Volatility Spillover between the US, Chinese and Australian Stock Markets

Posted: 27 Apr 2018

See all articles by Emawtee Bissoondoyal-Bheenick

Emawtee Bissoondoyal-Bheenick

Monash University; Financial Research Network (FIRN)

Robert D. Brooks

Monash University; Financial Research Network (FIRN)

Wei Chi

Tsinghua University

Hung Xuan Do

Massey University, Albany campus

Multiple version iconThere are 2 versions of this paper

Date Written: August 7, 2017

Abstract

Rational strategic planning has long been used as an instrument to improve financial performance. With the increasing complexity of the business environment, this positive impact has decreased. As a result, there have been several calls for more work focusing on investigating and understanding the strategic planning process and how it affects financial performance. Many recent studies suggest that a rational approach to strategic planning should be combined with an adaptive approach to build a hybrid approach that is better suited to the current dynamic and complex environment. The purpose of this research is to examine how a strategic planning process that combines rational characteristics and adaptive characteristics improves financial performance. To this end, this study develops and empirically tests a conceptual model, using a quantitative study of 335 European organizations. A combined strategic planning process has a positive impact on financial performance, through the mediators of employee strategic alignment and organizational capabilities.

Keywords: employee strategic alignment, financial performance, organizational capabilities, strategic planning process

Suggested Citation

Bissoondoyal-Bheenick, Emawtee and Brooks, Robert Darren and Chi, Wei and Do, Hung Xuan, Volatility Spillover between the US, Chinese and Australian Stock Markets (August 7, 2017). Australian Journal of Management, Vol. 43, No. 2, 2018, Available at SSRN: https://ssrn.com/abstract=3159908

Emawtee Bissoondoyal-Bheenick (Contact Author)

Monash University ( email )

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Financial Research Network (FIRN)

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Robert Darren Brooks

Monash University ( email )

Wellington Road
Clayton, Victoria 3168
Australia

Financial Research Network (FIRN)

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

Wei Chi

Tsinghua University ( email )

Haidian District
Beijing, Beijing 100084
China

Hung Xuan Do

Massey University, Albany campus ( email )

Auckland
New Zealand
+64 92136160 (Phone)
+64 92136160 (Fax)

HOME PAGE: http://www.massey.ac.nz/massey/expertise/profile.cfm?stref=972450

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