A study by Rarick and Vitton found that firms with a formalized mission statement have the average return on shareholders' equity compared to those firms without a formalized mission statement.
a) Twice
b) One quarter
c) Half
d) Five times
Answer:
The study by Rarick and Vitton found that firms with a formalized mission statement have an average return on shareholders' equity that is twice that of firms without a formalized mission statement. Therefore, the correct answer is: