MEASURING ORGANIZATIONAL DOWNSIDE RISK
Despite widespread incorporation of risk measures in strategy research, there is little consensus regarding the meaning and measurement of risk. In contrast to the variability measures widely used in strategy studies, this paper draws from behavioral decision theory, finance, and management theory t...
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| Veröffentlicht in: | Strategic management journal 1996-11, Vol.17 (9), p.671-691 |
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| container_end_page | 691 |
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| container_title | Strategic management journal |
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| creator | MILLER, KENT D. REUER, JEFFREY J. |
| description | Despite widespread incorporation of risk measures in strategy research, there is little consensus regarding the meaning and measurement of risk. In contrast to the variability measures widely used in strategy studies, this paper draws from behavioral decision theory, finance, and management theory to present an alternative perspective on organizational risk-downside risk. The paper explains three categories of organizational downside risk measures based on the concept of lower partial moments. The latter sections of the paper present considerations involved in specifying operational measures of downside risk and an empirical comparison of alternative downside risk measures. |
| doi_str_mv | 10.1002/(SICI)1097-0266(199611)17:9<671::AID-SMJ838>3.0.CO;2-1 |
| format | Article |
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In contrast to the variability measures widely used in strategy studies, this paper draws from behavioral decision theory, finance, and management theory to present an alternative perspective on organizational risk-downside risk. The paper explains three categories of organizational downside risk measures based on the concept of lower partial moments. The latter sections of the paper present considerations involved in specifying operational measures of downside risk and an empirical comparison of alternative downside risk measures.</description><identifier>ISSN: 0143-2095</identifier><identifier>EISSN: 1097-0266</identifier><identifier>DOI: 10.1002/(SICI)1097-0266(199611)17:9<671::AID-SMJ838>3.0.CO;2-1</identifier><identifier>CODEN: SMAJD8</identifier><language>eng</language><publisher>Chichester: John Wiley & Sons, Ltd</publisher><subject>Analytical forecasting ; Applied sciences ; Behavioral decision theory ; Business management ; Business risks ; Business strategies ; Decision theory ; Earnings forecasting ; Earnings per share ; Exact sciences and technology ; Financial management ; Financial risk ; Forecasting standards ; Investment risk ; Operational research and scientific management ; Operational research. Management science ; Organization theory ; Organizational behavior ; Organizational behaviour ; Rates of return ; Risk ; Risk assessment ; Risk aversion ; Risk management ; risk measurement ; Risk theory. Actuarial science ; risk-return ; Standard deviation ; Strategic management ; Strategic planning ; Studies</subject><ispartof>Strategic management journal, 1996-11, Vol.17 (9), p.671-691</ispartof><rights>Copyright 1996 John Wiley and Sons Limited</rights><rights>Copyright © 1996 John Wiley & Sons, Ltd.</rights><rights>1997 INIST-CNRS</rights><rights>Copyright Wiley Periodicals Inc. Nov 1996</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.jstor.org/stable/pdf/2486721$$EPDF$$P50$$Gjstor$$H</linktopdf><linktohtml>$$Uhttps://www.jstor.org/stable/2486721$$EHTML$$P50$$Gjstor$$H</linktohtml><link.rule.ids>315,781,785,804,1418,27874,27929,27930,45579,45580,58022,58255</link.rule.ids><backlink>$$Uhttp://pascal-francis.inist.fr/vibad/index.php?action=getRecordDetail&idt=2473051$$DView record in Pascal Francis$$Hfree_for_read</backlink></links><search><creatorcontrib>MILLER, KENT D.</creatorcontrib><creatorcontrib>REUER, JEFFREY J.</creatorcontrib><title>MEASURING ORGANIZATIONAL DOWNSIDE RISK</title><title>Strategic management journal</title><addtitle>Strat. Mgmt. J</addtitle><description>Despite widespread incorporation of risk measures in strategy research, there is little consensus regarding the meaning and measurement of risk. In contrast to the variability measures widely used in strategy studies, this paper draws from behavioral decision theory, finance, and management theory to present an alternative perspective on organizational risk-downside risk. The paper explains three categories of organizational downside risk measures based on the concept of lower partial moments. The latter sections of the paper present considerations involved in specifying operational measures of downside risk and an empirical comparison of alternative downside risk measures.</description><subject>Analytical forecasting</subject><subject>Applied sciences</subject><subject>Behavioral decision theory</subject><subject>Business management</subject><subject>Business risks</subject><subject>Business strategies</subject><subject>Decision theory</subject><subject>Earnings forecasting</subject><subject>Earnings per share</subject><subject>Exact sciences and technology</subject><subject>Financial management</subject><subject>Financial risk</subject><subject>Forecasting standards</subject><subject>Investment risk</subject><subject>Operational research and scientific management</subject><subject>Operational research. Management science</subject><subject>Organization theory</subject><subject>Organizational behavior</subject><subject>Organizational behaviour</subject><subject>Rates of return</subject><subject>Risk</subject><subject>Risk assessment</subject><subject>Risk aversion</subject><subject>Risk management</subject><subject>risk measurement</subject><subject>Risk theory. 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Mgmt. J</addtitle><date>1996-11</date><risdate>1996</risdate><volume>17</volume><issue>9</issue><spage>671</spage><epage>691</epage><pages>671-691</pages><issn>0143-2095</issn><eissn>1097-0266</eissn><coden>SMAJD8</coden><abstract>Despite widespread incorporation of risk measures in strategy research, there is little consensus regarding the meaning and measurement of risk. In contrast to the variability measures widely used in strategy studies, this paper draws from behavioral decision theory, finance, and management theory to present an alternative perspective on organizational risk-downside risk. The paper explains three categories of organizational downside risk measures based on the concept of lower partial moments. The latter sections of the paper present considerations involved in specifying operational measures of downside risk and an empirical comparison of alternative downside risk measures.</abstract><cop>Chichester</cop><pub>John Wiley & Sons, Ltd</pub><doi>10.1002/(SICI)1097-0266(199611)17:9<671::AID-SMJ838>3.0.CO;2-1</doi><tpages>21</tpages></addata></record> |
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| identifier | ISSN: 0143-2095 |
| ispartof | Strategic management journal, 1996-11, Vol.17 (9), p.671-691 |
| issn | 0143-2095 1097-0266 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_38992020 |
| source | Periodicals Index Online; Access via Wiley Online Library; JSTOR Archive Collection A-Z Listing |
| subjects | Analytical forecasting Applied sciences Behavioral decision theory Business management Business risks Business strategies Decision theory Earnings forecasting Earnings per share Exact sciences and technology Financial management Financial risk Forecasting standards Investment risk Operational research and scientific management Operational research. Management science Organization theory Organizational behavior Organizational behaviour Rates of return Risk Risk assessment Risk aversion Risk management risk measurement Risk theory. Actuarial science risk-return Standard deviation Strategic management Strategic planning Studies |
| title | MEASURING ORGANIZATIONAL DOWNSIDE RISK |
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