Analysis of Extremes in Management Studies

Baum, Joel A. C.; McKelvey, Bill

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Analysis of Extremes in Management Studies

Research Methodology in Strategy and Management, Vol. 3, pp. 123-196, 2006

74 Pages Posted: 2 Apr 2008

See all articles by Joel A. C. Baum

Joel A. C. Baum

University of Toronto - Joseph L. Rotman School of Management

Bill McKelvey

University of California, Los Angeles (UCLA) - Anderson School of Management

Date Written: 2006

Abstract

The potential advantage of extreme value theory in modeling management phenomena is the central theme of this paper. The statistics of extremes have played only a very limited role in management studies despite the disproportionate emphasis on unusual events in the world of managers. An overview of this theory and related statistical models is presented, and illustrative empirical examples provided.

Keywords: Extreme Value Theory, Power Laws, Management Studies

JEL Classification: C14, M10, M20

Suggested Citation: Suggested Citation

Baum, Joel A.C. and McKelvey, Bill, Analysis of Extremes in Management Studies (2006). Research Methodology in Strategy and Management, Vol. 3, pp. 123-196, 2006, Available at SSRN: https://ssrn.com/abstract=1115317