Research On Strategic Risk And The Association With Return

As the trend towards globalization has accelerated, the organizational level risk called strategic risk needs more attentions. The core concern of strategic risk is to avoid business disasters, and to achieve sustainable growth. In view of the current limitations on academic study, followed by the paradigm of strategic management, the thesis integrates the theory from strategic management, economic, risk management and system science, and methods from qualitative and quantitative, deductive and inductive, empirical and normative, to analysis theory and method of strategic risk and its relationship with return. The main works are as follows:Firstly, on foundation of reviewing relevant literatures about enterprise strategic risk, new concept and characteristic of strategic risk are defined. This thesis emphatically studies in the risk factor and risk form mechanism of enterprise strategic risk identification process. It points out that strategic environment; strategic resource, strategic knowledge, strategy, structure and process are the six related enterprise strategic risk factors. Also the paper concludes that dynamic imbalance of coordinating and matching between them is the direct reason of enterprise strategic risk occurrence, and finally founds the enterprise strategic risk form mechanism model.Secondly, focusing on flexible characteristics, the single factor model is formed by introducing real option. With the Copula coupling functions, it's described the multiple factors co-probability distribution and coupling structure. The dynamic evaluating method of enterprise strategic risk is proposed with real option as core.Thirdly, considering specific character of strategic risk management, the thesis indicates that strategic risk sharing alliance (SRSA) is a good outside mechanism. From the dimension of RBV, the thesis analyzes the form motivation of enterprise SRSA, resulting of two basic conditions. Then, on the basis of systematic entropy and...