Excerpt from A Risk The total set of industries from Value Line is used to demonstrate that business risk and return are negatively correlated across companies within industries. Some empirical questions about industries themselves are also raised. The concepts of income smoothing and corporate strategy are utilized to explain this apparent paradox. Further work is both suggested and elaborated. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.