A replication of Bowman's paradox across 28 countries

Pankaj C. Patel, Mingxiang Li, Haemin Dennis Park

This study assessed the generalizability of Bowman's paradox across 12,235 firms from 28 countries. Cross-sectional and longitudinal relationships between risk and return provided broad support for the presence of Bowman's paradox in diverse country settings (Asia, Europe, and South Africa), except India, Japan, and South Korea, where the relationship was positive. This replication confirms that Bowman's paradox generally holds across diverse institutional and cultural settings and supports prior studies on Bowman's paradox based on US samples.

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Year of publication:	September-December 2018
Authors:	Patel, Pankaj C. ; Li, Mingxiang ; Park, Haemin Dennis
Published in:	Journal of innovation & knowledge : JIK. - Amsterdam : Elsevier, ISSN 2444-569X, ZDB-ID 2885454-8. - Vol. 3.2018, 3, p. 128-142
Subject:	Bowman's paradox \| International business \| Risk \| Return \| Skewness