Putting rational blinders behind us: Behavioural understandings of finance and strategic management

Long Range Planning

Volumn 36, Issue 1, 2003, Pages 37-48

  Bromiley, Philip ^a   James Wade, Sharon ^b  

^a UNIVERSITY OF MINNESOTA   (United States)

^b WASHINGTON UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

ECONOMICS; FINANCE;

MARKET EQUILIBRIUM;

STRATEGIC PLANNING;

FINANCIAL MARKET; MANAGEMENT PRACTICE; MARKET CONDITIONS; STRATEGIC APPROACH;

EID: 0037304340     PISSN: 00246301     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0024-6301(02)00199-1     Document Type: Article

References (27)

1. A. Shleifer, Inefficient Markets: An Introduction to Behavioural Finance in Oxford University Press, New York (2000).
2. E. F. Fama and K. R. French, Multifactor explanations of asset pricing anomalies, The Journal of Finance 51(1), 55-84 (1996).
3. W. F. M. De Brondt and R. H. Thaler, Does the stock market overreact?, The Journal of Finance 40(3),793-807 (1986);
4. N. Jegadeesh and S. Titman, Overreaction, delayed reaction, and contrarian profits, The Review of Financial Studies 8(4), 973-993 (1995).
5. J. B. Barney, Firm resourcesand sustained competitive advantage, Journal of Management 17, 99-120 (1991).
6. M. Jensen, Some anomalous evidence regarding market efficiency, Journal of Financial Economics 23, 389-416 (1978).
7. P. Krugman, What Economists can learn from evolutionary theorists, Talk given to the European Associationfor Evolutionary Political Economy (November 1996).
8. F. Modigliani and R. A. Cohn, Inflation, rational valuation and the market, Financial Analysts' Journal 35, 22-44 (1979).
9. P. D. Easton, Accounting earnings and security valuation: empirical evidence of the fundamental links, Journal of Accounting Researchment 23(supplement), 54-77 (1985);
10. R. Shiller, Do stock prices move too much to be justified by subsequent changes in dividends?, American Economic Review 71, 421-436 (1981);
11. R. Shiller, Market Volatility, MIT Press, Cambridge MA (1989).
12. L. H. Summers, Does the stock market rationally reflect fundamental values?, The Journal of Finance 41(3), 591-601 (1986).
13. E. F. Fama, Efficient capital markets: II, Journal of Finance 46(5), 1575-1617 (1991).
14. L. K. C. Chan, Y. Hamao and J. Lakonishok, Fundamentals and stock returns in Japan, Journal of Finance 46(5), 1739-1764 (1991).
15. F. Black, Noise, Journal of Finance 41, 529-543 (1986).
16. D. Hirshleifer and T. Shumway, Good Day Sunshine: Stock Returns and the Weather, Ohio State University, Department of Finance (2001);
17. A. Rappaport, Selecting strategies that create shareholder value, Harvard Business Review 59, 139-149(1981).
18. G. C. Biddle, R. M. Bowen and J. S. Wallace, Does EVA beat earnings? Evidence on associations withstock returns and firm values, Journal of Accounting and Economics 24(3), 301-336 (1997).
19. J. B. Barney, Strategic factor markets: expectations, luck and business strategy, Management Science 32(10), 1231-1241 (1986).
20. E. Mosakowski, Managerial prescriptions under the resource-based view of strategy: the example of motivational techniques, Strategic Management Journal 19(12), 1169-1183 (1998);
21. R. Rumelt, D. Schendel and D. Teece, Strategic management and economics, Strategic Management Journal 12, 5-29 (1991).
22. S. Lippman and R. Rumelt, Uncertain imitability: an analysis of interfirm differences in efficiency under competition, Bell Journal of Economics 13, 418-438 (1982);
23. J. Schumpeter, Capitalism, Socialism and Democracy, Chapter 7. Harper & Row, New York (1950);
24. R. Nelson and S. Winter, An Evolutionary Theory of Economic Change, The Belknap Press, Harvard University, Cambridge, MA (1982).
25. G. Szulanski, Exploring internal stickiness: Impediments to the transfer of best practice within the firm. Strategic Management Journal, 17 27-44. (1996).
26. P. Khanna, R. Gulati and N. Nohria The dynamics of learning alliances: competition, co-operation and relative scope. Strategic Management Journal, 19, 193-210 (1998)
27. D. C. Mowery, J. E. Oxley and B. S. Silverman, Strategic alliances and interfirm knowledge transfer, Strategic Management Journal 17 (Special Issue), 77-91 (1996).