Purpose – The paper examines the conditional capital asset pricing model (CCAPM) of Jagannathan and Wang using the UK data and develops a data-driven measure of beta instability risk that is pertinent to the UK stock market. In contrast to the view that the main part of the Jagannathan and...

The resource‐based view (RBV) and the dynamic‐capabilities approach (DCA) have emerged as two important frameworks in strategic management that seek to explain why firms are different. In recent years operations management scholars have sought to integrate both RBV and DCA within the field's...

Given the increasingly competitive nature of the international hotel industry, understanding sources of competitive advantage is likely to become a critical management task in the 1990s. A framework for practising managers is presented within which to examine the link between the hotel′s...

Purpose – The paper examines the conditional capital asset pricing model (CCAPM) of Jagannathan and Wang using the UK data and develops a data-driven measure of beta instability risk that is pertinent to the UK stock market. In contrast to the view that the main part of the Jagannathan and...