Volatility Spillover between the US, Chinese and Australian Stock Markets
Posted: 27 Apr 2018
There are 2 versions of this paper
Volatility Spillover between the US, Chinese and Australian Stock Markets
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
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