), which is a statistical measure and gives investors a clue concerning volatility, is calculated to determine the extent to which companies are exposed to systematic risk. However, the asymmetry of information between the internal and external environment of small and More
), which is a statistical measure and gives investors a clue concerning volatility, is calculated to determine the extent to which companies are exposed to systematic risk. However, the asymmetry of information between the internal and external environment of small and medium-sized companies makes such studies more complex. According to the panel-data model results, the size of companies and the amount of their advertising have an adverse effect on systematic risk.
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