Deregulation, strategic choice, risk and financial performance
研究了美国银行业放松管制如何影响企业的战略选择、风险与财务绩效，发现放松管制对战略选择有直接影响，并通过战略选择间接影响风险与回报。
Abstract This study explores the effects of regulation and deregulation on strategic choice and performance in the U.S. banking industry. Drawing on literature from strategic management, industrial organization economics, and organization theory, we develop a framework which suggests that regulatory scope and regulatory incrementalism influence strategic choice and performance. A path analytic model is used to empirically examine these influences. The results suggest that deregulation has direct effects on firms' strategic choices and both direct and indirect effects on risk and return.