Paradox or At Least Variance Found: A Comment on "Mean-Variance Approaches to Risk-Return Relationships in Strategy: Paradox Lost"
In general, the problem is that the computed mean-variance relationship for a period of time cannot be identified in distinction to the effects of shifts in the relationship over time---without additional information or assumptions. Thus, using a mean-variance approach to risk-return relationships means that statements about the nature of the mean-variance association cannot be confirmed in a nontrivial fashion within the empirical system nor generalized to any other time period---including subperiods. (Ruefli 1990) (emphasis in original)
Year of publication: |
1991
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Authors: | Bromiley, Philip |
Published in: |
Management Science. - Institute for Operations Research and the Management Sciences - INFORMS, ISSN 0025-1909. - Vol. 37.1991, 9, p. 1206-1210
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Publisher: |
Institute for Operations Research and the Management Sciences - INFORMS |
Saved in:
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