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- Title
The Operating Performance of High Performance Companies during a Period of Financial Crisis: Risks and Opportunities.
- Authors
Needles, Belverd E.; Shigaev, Anton; Powers, Marian; Frigo, Mark L.
- Abstract
The global financial crisis of 2007-2009 presented a challenge to all companies around the globe. This study analyzes whether companies that exhibited high performance characteristics in the pre-financial crisis period can maintain their high performance in the post-financial crisis period, and if so, what operating characteristics are most important in managing a company through such a period. The study empirically investigates 1,480 companies in the United States and 22 other countries (MSCI index) over the periods 1998-2007 (benchmark) and 2008-2009 (period of financial crisis) to identify HPC from the former period that exited, maintained, or entered HPC status in the latter period including: (1) the operating characteristics of those companies that were able to sustain high performance from 1998-2007 into 2008-2009; (2) the operating characteristics (performance drivers and performance measures) and associated risk factors which were most critical for companies that exited HPC status in 2008-2009; and (3) the operating characteristics which were most critical for companies that emerged to HPC status in the post-financial crisis period. The results provide direction for management of companies that aspire to HPC status and to maintain HPC status, particularly in times of global financial stress.
- Subjects
PERFORMANCE evaluation; BUSINESS enterprises; FINANCIAL crises; RISK assessment; FINANCIAL stress; FINANCIAL management
- Publication
Global Studies Journal, 2013, Vol 5, Issue 2, p67
- ISSN
1835-4432
- Publication type
Article
- DOI
10.18848/1835-4432/CGP/v05i02/40841