文章基本信息

标题：THE IMPORTANCE OF FINANCIAL LEVERAGE AND RISK AVERSION IN RISK MANAGEMENT STRATEGY SELECTION
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作者：Baker, Timothy G. ; Gloy, Brent A.
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：2001
出版社：Food Distribution Research Society
摘要：The problem of choice among risk management strategies is addressed with the stochastic dominance with a risk free asset (SDRA) criteria. The SDRA criteria consider all possible combinations of the strategies and financial leverage. This consideration allows the possibility that strategies with less business risk, less expected return, and greater leverage may dominate strategies with greater business risk and greater expected return. Results show that the inclusion of the risk free asset significantly improves the discriminatory power of the ordinary SD criteria.