Shafer, Michael; Yildirim, Yildiray - In: Finance Research Letters 10 (2013) 4, pp. 157-168
We use an empirical model to categorize firms into portfolios based on operational risk. Using these portfolios, we show that a strategy of buying firms in the highest decile of operational risk and shorting firms in the lowest decile of operational risk earned a positive but insignificant...
