Richardson, Vernon J.; Waegelein, James F. - In: Journal of Business Finance & Accounting 30 (2003-04) 3-4, pp. 621-644
This study investigates why firms adopt long-term performance plans. The results provide evidence that firms that adopt long-term performance plans have higher risk as measured by Beta, have lower percentages of managerial stockholdings, have higher levels of investment in research and...