A number of studies have examined the algorithms that business games use to simulate real-world company functions. This study extends that research tradition into the area of the firm's stock price algorithm while increasing the range of validates considered. An investigation of the stock price algorithms associated with six computer-based management games revealed diversity in the number and treatment of the variables used to create company stock prices. This diversity created radically different firm stock prices. These valuations also differed under simulation firm conditions of economic growth and decline. Most stock price results would meet a face validity test under conditions of improving firm performance, but most would be challenged under conditions of company decline.
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