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Purpose: Performance appraisal (PA) is one of the most indispensable human resource management practices as many critical decisions regarding employees’ performance are heavily based on the PA results as they are responsible for various attitude-related outcomes. This study aims to...
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The Capital Asset Pricing Model (CAPM) is based on the Expected Utility (EU) theory that assumes linearity in probabilities and models the assumption of risk-aversion via a concave utility function. Studies in psychology and economics, however, show that individuals systematically violate the...
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