The relationships between risk and performance were tested employing within and between analyses at the level of strategic groups in three different industries. As hypothesized, systematic risk did not exhibit a consistent relationship with performance. By contrast, all of the total...

We compare top management compensation among prospector, defender, and analyzer strategic types, and the effects of differences in managers' employment risks, firm performance, and firm size. Prospectors performed better and they paid their top management group more than did analyzers. They were...