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Comparing alternative explanations for accounting risk-return relations

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  • Deephouse, David L.
  • Wiseman, Robert M.

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  • Deephouse, David L. & Wiseman, Robert M., 2000. "Comparing alternative explanations for accounting risk-return relations," Journal of Economic Behavior & Organization, Elsevier, vol. 42(4), pages 463-482, August.
  • Handle: RePEc:eee:jeborg:v:42:y:2000:i:4:p:463-482
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    References listed on IDEAS

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    1. Alchian, Armen A & Demsetz, Harold, 1972. "Production , Information Costs, and Economic Organization," American Economic Review, American Economic Association, vol. 62(5), pages 777-795, December.
    2. Harikumar, T, 1996. "Leverage, Risk-Shifting Incentive, and Stock-Based Compensation," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 19(3), pages 417-428, Fall.
    3. Fama, Eugene F & Jensen, Michael C, 1983. "Agency Problems and Residual Claims," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 327-349, June.
    4. Michael C. Jensen, 2010. "The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 43-58.
    5. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    6. Theresa K. Lant, 1992. "Aspiration Level Adaptation: An Empirical Exploration," Management Science, INFORMS, vol. 38(5), pages 623-644, May.
    7. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    8. Morck, Randall & Shleifer, Andrei & Vishny, Robert W., 1988. "Management ownership and market valuation : An empirical analysis," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 293-315, January.
    9. Morck, Randall & Shleifer, Andrei & Vishny, Robert W., 1988. "Management ownership and market valuation," Scholarly Articles 29407535, Harvard University Department of Economics.
    10. Saunders, Anthony & Strock, Elizabeth & Travlos, Nickolaos G, 1990. " Ownership Structure, Deregulation, and Bank Risk Taking," Journal of Finance, American Finance Association, vol. 45(2), pages 643-654, June.
    11. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-329, May.
    12. Byrd, John W. & Hickman, Kent A., 1992. "Do outside directors monitor managers? *1: Evidence from tender offer bids," Journal of Financial Economics, Elsevier, vol. 32(2), pages 195-221, October.
    13. Timothy W. Ruefli, 1990. "Mean-Variance Approaches to Risk-Return Relationships in Strategy: Paradox Lost," Management Science, INFORMS, vol. 36(3), pages 368-380, March.
    14. Lant, Theresa K. & Montgomery, David B., 1987. "Learning from strategic success and failure," Journal of Business Research, Elsevier, vol. 15(6), pages 503-517, December.
    15. Philip Bromiley, 1991. "Paradox or At Least Variance Found: A Comment on "Mean-Variance Approaches to Risk-Return Relationships in Strategy: Paradox Lost"," Management Science, INFORMS, vol. 37(9), pages 1206-1210, September.
    16. James G. March & Zur Shapira, 1987. "Managerial Perspectives on Risk and Risk Taking," Management Science, INFORMS, vol. 33(11), pages 1404-1418, November.
    17. Benjamin M. Oviatt & Alan D. Bauerschmidt, 1991. "Business Risk and Return: A Test of Simultaneous Relationships," Management Science, INFORMS, vol. 37(11), pages 1405-1423, November.
    18. Lev, Baruch, 1974. "On the Association between Operating Leverage and Risk," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 9(04), pages 627-641, September.
    19. Sinha, Tapen, 1994. "Prospect theory and the risk return association: Another look," Journal of Economic Behavior & Organization, Elsevier, vol. 24(2), pages 225-231, July.
    20. T. Harikumar, 1996. "Leverage, Risk-Shifting Incentive, And Stock-Based Compensation," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 19(3), pages 417-428, September.
    21. Myers, Stewart C., 1977. "Determinants of corporate borrowing," Journal of Financial Economics, Elsevier, vol. 5(2), pages 147-175, November.
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    Cited by:

    1. Lim, Sonya Seongyeon & Wang, Heli, 2007. "The effect of financial hedging on the incentives for corporate diversification: The role of stakeholder firm-specific investments," Journal of Economic Behavior & Organization, Elsevier, vol. 62(4), pages 640-656, April.
    2. Jonathan P. O'Brien & Timothy B. Folta, 2009. "A transaction cost perspective on why, how, and when cash impacts firm performance," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 30(7), pages 465-479.
    3. Díez-Esteban, José María & Farinha, Jorge Bento & García-Gómez, Conrado Diego, 2016. "The role of institutional investors in propagating the 2007 financial crisis in Southern Europe," Research in International Business and Finance, Elsevier, vol. 38(C), pages 439-454.
    4. Núñez-Nickel, Manuel & Cano Rodríguez, Manuel, 2002. "Las tres caras del riesgo estratégico: riesgo sistemático, riesgo táctico y riesgo idiosincrásico," DEE - Documentos de Trabajo. Economía de la Empresa. DB db021508, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    5. Nickel, Manuel Núñez & Rodriguez, Manuel Cano, 2002. "A review of research on the negative accounting relationship between risk and return: Bowman's paradox," Omega, Elsevier, vol. 30(1), pages 1-18, February.
    6. Rodríguez, Manuel Cano & Nickel, Manuel Núñez, 2003. "Author's reply," Omega, Elsevier, vol. 31(5), pages 413-416, October.
    7. repec:eee:jbrese:v:82:y:2018:i:c:p:68-78 is not listed on IDEAS
    8. Basu, Sandip & Phelps, Corey & Kotha, Suresh, 2011. "Towards understanding who makes corporate venture capital investments and why," Journal of Business Venturing, Elsevier, vol. 26(2), pages 153-171, March.
    9. Liu, Xiaohui & Gao, Lan & Lu, Jiangyong & Lioliou, Eleni, 2016. "Environmental risks, localization and the overseas subsidiary performance of MNEs from an emerging economy," Journal of World Business, Elsevier, vol. 51(3), pages 356-368.
    10. repec:eee:riibaf:v:42:y:2017:i:c:p:900-911 is not listed on IDEAS
    11. Jiménez, Alfredo & Delgado-García, Juan Bautista, 2012. "Proactive management of political risk and corporate performance: The case of Spanish multinational enterprises," International Business Review, Elsevier, vol. 21(6), pages 1029-1040.
    12. Cano Rodríguez, Manuel & Núñez-Nickel, Manuel, 2002. "Problems with extending conclusions between Bowman's paradox and Beta's death," DEE - Working Papers. Business Economics. WB wb024919, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    13. Henkel, Joachim, 2007. "The Risk-Return Paradox for Strategic Management: Disentangling True and Spurious Effects," CEPR Discussion Papers 6538, C.E.P.R. Discussion Papers.

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