The Effects of Strategic Planning on Common Stock Returns.
- 1 March 1980
- journal article
- Published by Academy of Management in The Academy of Management Journal
- Vol. 23 (1) , 5-20
- https://doi.org/10.2307/255493
Abstract
In a study of the effects of strategic planning, statistical tests did not indicate significant differences between the returns earned by shareholders of planning firms and nonplanning firms. There was indication of a transitory reduction in the riskiness of planning firms after the initiation of planning, relative to nonplanning firms, where risk is measured in a capital asset pricing model framework.Keywords
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