Titler
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The Role of Families in Succession Decisions and PerformanceBennedsen, Morten; Nielsen, Kasper; Pérez-González, Francisco; Wolfenzon, Daniel (København, 2005)[Flere oplysninger][Færre oplysninger]
Resume: This paper uses a unique dataset from Denmark to investigate (1) the role of family characteristics in corporate decision making, and (2) the consequences of these decisions on firm performance. We focus on the decision to appoint either a family or an external chief executive officer (CEO). We show that a departing CEO’s family characteristics have a strong predictive power in explaining CEO succession decisions: family CEOs are more frequently selected the larger the size of the family, the higher the ratio of male children and when the departing CEOs had only had one spouse. We then analyze the impact of family successions on performance. We overcome endogeneity and omitted variables problems of previous papers in the literature by using the gender of a departing CEO’s first-born child as an instrumental variable (IV) for family successions. This is a plausible IV as male first-child family firms are more likely to pass on control to a family CEO than female first-child firms, but the gender of the first child is unlikely to affect firms' performance. We find that family successions have a dramatic negative causal impact on firm performance: profitability on assets falls by at least 6 percentage points around CEO transitions. These estimates are significantly larger than those obtained using ordinary least squares. Finally, our findings demonstrate that professional nonfamily CEOs provide extremely valuable services to the organizations they work for. JEL classification: G32, G34, M13 Keywords: family firms, successions, CEO turnover, governance URI: http://hdl.handle.net/10398/7594 Filer i denne post: 1
wp21-2005.pdf (249.7Kb) -
Brian Loasby and The Theory of The FirmFoss, Nicolai J. (Frederiksberg, 1997)[Flere oplysninger][Færre oplysninger]
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A sociomaterial study of development processes in the Danish film industryStrandvad, Sara Malou (Frederiksberg, 2009)[Flere oplysninger][Færre oplysninger]
Resume: The empirical question, which the thesis addresses in the different papers, is how the process of development is organized in Danish film production. Development in film production characterizes the initial phase where an idea is constructed and transformed into a realizable film project. In practice, this creation consists in writing a synopsis and, later on, a manuscript for the film, because such drafts of the product are institutionalized as necessary devices for achieving funding to make the actual film. Hence, the focus area of the thesis is the process of manuscript writing in film production; an organizing process of developing projects. URI: http://hdl.handle.net/10398/7793 Filer i denne post: 1
Sara_Malou_Strandvad.pdf (1.916Mb) -
Pedersen, Ove K. (København, 2008)[Flere oplysninger][Færre oplysninger]
Resume: In recent years, the concept of international competitiveness has (re)emerged as a paradigm in public discourse. In this paper I introduce the concept of institutional competitiveness to show how the concept of international competition has been reformulated as part of a political project for initiating economic globalization. It is my intention to show how the concept of institutional competitiveness (CIC) has raised to become important in the last 25 years, moving from a simple conversation among academics into a political discussion with real-world effects. The purpose of the paper is to describe the rise and movement into the realm of practice. The purpose is also to show how the voyage has come to include institutional change as an important policy instrument and the use of institutional analysis as a key utensil for policy makers. It is my claim that discourses and institutions are used with the intention to enhance the competitiveness of nations and enterprises; why discourses and institutions have become a political phenomenon of interest and salience for policy makers and decision takers. It is also my claim that knowledge of institutions is applied to explain economic growth and to assess the potential relevance of institutional reforms; why interpretations of institutions has been become a policy tool for the implementation of globalisation. It is this dual role of discourses and institutions I describe in the following. The whole debate on the CIC will be looked upon as an example of how institutions (as a political phenomenon) and institutional analysis (as a policy tool) have become part of a policy approach. Two caveats are necessary. It is not my ambition to describe the conflicts of interests and the accidents of history involved in moving the process from dawn to mid-day. Neither is it my ambition to explain why the travel has happened in the first place. Even if the process is engulfed in conflicts – at several levels and including multiple interests – I will NOT identify these, nor describe them. The purpose of the paper is only to describe not to explain. The paper will be organised as follows. First, I describe how the concept of national and institutional competitiveness is discussed. In order to describe how the concept of competitiveness has been redefined over the past 20-25 years I include literature from economic theory and business analysis (Aiginger 2006b; Siggel 2006). It is in this context that the concept of Institutional Competitiveness is introduced. Second, I trace the institutionalization of the discussion into expert systems. Two examples will be emphasized. One is the development of "The post-Washington consensus” another is The Open Method of Coordination within the EU. The presentation is based on a reading of policy papers, reports and other primary sources from international organizations and national governments. Third, I point to how the institutionalization has included a number of welfare reforms and ignited a process towards the transformation of national welfare states. I draw on primary and secondary literature in presenting the concept of competition state (Cerny 1990, 2007; Stopford et al 1991; Jessop 1994, 2003; Hirsch 1995; but also Rosecranze 1999; Bobbit 2002; Weiss 2003). Fourth, and finally, I emphasize how state-society relations have been changed. The concept of competitive corporatism (Rhodes 1998; Molina & Rhodes 2002) is employed. URI: http://hdl.handle.net/10398/7356 Filer i denne post: 1
wp cbp 2008-47.pdf (174.2Kb) -
Lund, Anker Brink (København, 2005)[Flere oplysninger][Færre oplysninger]
Resume: This inaugural address is a welcome opportunity to call your attention to a new area of research that the International Center for Business and Politics has chosen as one of five areas of special interest. By referring to this area of focus as"institutional competition in the media market" we also signal an approach that will be free of much of the traditional dogma in Danish media research: First of all, we will consider the media as a market for opinion, goods and services – not primarily as a cultural discourse with a singular focus on public service. Secondly, we consider media activity from a social science / leadership perspective – not from the perspective of a journalist or from the ideologically critical perspective of the license payer. Thirdly, we consider competition in the media market as an institutional phenomenon that is not solely conditioned by economic considerations. We aim to find a third way between economic determinism and the optimism of political regulation. The media enterprise as institutionalized practice is, from our perspective, placed at the intersection of the marketplace and politics. We recognize that the daily press, radio and television in Denmark have emerged from a tradition based upon ideals of freedom of expression, democracy and the enlightenment of the general public. At the same time we stress the fact that the media worldwide is Big Business – and that this reality has an increasing effect on Danish competitiveness and business development in general. Not only as a channel for opinion, but as a political actor and a potential business locomotive in the so-called culture- and experience-economy. URI: http://hdl.handle.net/10398/7345 Filer i denne post: 1
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Denmark and the United StatesCampbell, John L.; Pedersen, Ove K. (København, 2005)[Flere oplysninger][Færre oplysninger]
Resume: Despite high taxes, a large state budget and welfare state, much economic regulation, and a very open economy, Denmark continues to compete successfully against the other advanced capitalist economies. Hence, Denmark presents a paradox for neoliberalism, which predicts that these policies will hurt national competitiveness under conditions of economic globalization. Following the varieties of capitalism literature, this paper argues that Denmark’s success has been based in large part on its institutional competitiveness–its capacity to achieve socioeconomic success as a result of the competitive advantages that firms derive from operating within a particular set of political and economic institutions. The institutional basis for successfully coordinating labor markets, vocational training and skill formation programs, and industrial policy are examined for Denmark and the United States—two countries that are very different institutionally. The analysis shows that there is no one best way to achieve success in today’s global economy, except perhaps for reducing socioeconomic inequality; that the type of capitalism known as coordinated market economies are oversimplified in the literature; and that high taxes, state spending, and economic regulation can actually enhance socioeconomic performance. URI: http://hdl.handle.net/10398/7329 Filer i denne post: 1
institutional_comp_21.pdf (251.6Kb) -
Ionascu, Delia; Meyer, Klaus E.; Estrin, Saul (København, 2004)[Flere oplysninger][Færre oplysninger]
Resume: The concept of ‘distance’ has been used by international business scholars to explain variations in international business strategies and operations across countries. The more distant a host country is from the organizational centre of a multinational enterprise (MNE), the more it has to manage cultural, regulatory and cognitive differences, and to develop appropriate entry strategies, organizational forms, and internal procedures to accommodate these differences. Scholarly research has focused on the concept of psychic distance, which has been narrowed down in empirical work to indices based on Hofstede’s work on culture. However, these measures capture only very partially the dimensions of distance of concern to international business. In this paper, we show how the broader theoretical concept of institutional distance, which incorporates normative, regulatory and cognitive aspects, affects entry strategies. Specifically, our theoretical arguments suggest that the impact of distance varies with different aspects of the concept of institutional distance, and that this impact interacts with both the investor’s experience and with the relative importance of the pertinent operation for the investing MNE. Using a unique dataset of foreign direct investment in emerging economies that incorporates multi-host as well as multi-home countries, we find empirical support for our propositions, and provide an explanation for apparently inconsistent results in the previous literature. URI: http://hdl.handle.net/10398/7116 Filer i denne post: 1
cees wp51 ionascu meyer estrin.pdf (548.5Kb) -
Ionaşcu, Delia; Meyer, Klaus; Estrin, Saul (København, 2004)[Flere oplysninger][Færre oplysninger]
Resume: The concept of ‘distance’ has been used by international business scholars to explain variations in international business strategies and operations across countries. The more distant a host country is from the organizational centre of a multinational enterprise (MNE), the more it has to manage cultural, regulatory and cognitive differences, and to develop appropriate entry strategies, organizational forms, and internal procedures to accommodate these differences. Scholarly research has focused on the concept of psychic distance, which has been narrowed down in empirical work to indices based on Hofstede’s work on culture. However, these measures capture only very partially the dimensions of distance of concern to international business. In this paper, we show how the broader theoretical concept of institutional distance, which incorporates normative, regulatory and cognitive aspects, affects entry strategies. Specifically, our theoretical arguments suggest that the impact of distance varies with different aspects of the concept of institutional distance, and that this impact interacts with both the investor’s experience and with the relative importance of the pertinent operation for the investing MNE. Using a unique dataset of foreign direct investment in emerging economies that incorporates multi-host as well as multi-home countries, we find empirical support for our propositions, and provide an explanation for apparently inconsistent results in the previous literature. URI: http://hdl.handle.net/10398/6620 Filer i denne post: 1
working paper 2004-51.pdf (550.9Kb) -
Lessond from East AsiaGammeltoft, Peter (København, 2003)[Flere oplysninger][Færre oplysninger]
Resume: While still short of being entirely mainstream there does appear to be a growing recognition in both policy circles and academia that economic development is not brought about by autonomous profitmaximising agents interacting anonymously through equilibrium markets.1 Rather, economic development is an inherently disequilibric process involving interactive and institutionally embedded processes in broader systems of firms, governments, research centres, universities, consultants, and other entities. These systems can tap into stocks of global knowledge and technologies, assimilate and adapt it to local circumstances, and create new knowledge or technologies. Such broader production systems are conceptualised in several different ways in the literature, e.g. Lundvall et al.’s ‘national innovation systems’, Richard Whitley’s ‘business systems’, and Sanjaya Lall’s concept of ‘industrial technology development’. This paper identifies and outlines four different systemic approaches to economic development. All four approaches have primarily been developed to address nationally based institutional systems in advanced economies. Both the ontological premises and the policy implications of these systemic approaches depart distinctly from the conventional orthodoxy on economic development as articulated in the ‘Washington Consensus’ and its later derivatives. The article goes on to explore which policy implications the adoption of such a systemic view might have for the New Partnership for Africa’s Development (NEPAD). URI: http://hdl.handle.net/10398/6982 Filer i denne post: 1
pga+nepad+wp.pdf (324.2Kb) -
The Emergence of Environmental Management AccountingGeorg, Susse (København, 2004)[Flere oplysninger][Færre oplysninger]
Resume: Based on a study of the emergence of EMA as a new managerial domain and of how EMA costs the environment, the paper examines the institutionalisation of EMA. This is accomplished by linking EMA to the broader discourse of economic efficiency. Moreover, the paper contends that the institutionalisation of EMA is supported through the legitimacy it produces for individuals (notably environmental managers) and organizations. Through the use of different metrics, EMA frames the environment in terms of the well known – money – and establishes equivalence between the actions to protect the environment and changes in the bottom line. URI: http://hdl.handle.net/10398/6688 Filer i denne post: 1
wp200415.pdf (54.37Kb) -
how to make KM survive in adverse economic circumstances?Mahnke, Volker; Venzin, Markus (København, 2003)[Flere oplysninger][Færre oplysninger]
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Differentiated internationalization strategies of emerging market state-owned enterprisesLi, Ming Hua (Frederiksberg, 2014)[Flere oplysninger][Færre oplysninger]
Resume: The rise of globalization over the past several decades has witnessed a surge of cross-border activities by emerging market firms. To a large extent, such acceleration in their overseas venturing has been precipitated by the liberalization of domestic and foreign trade regimes governing foreign direct investment. In order to compete with advanced country multinationals, emerging economy firms have increasingly leveraged a broad array of resources and organizational strategies to springboard abroad. Simultaneously, such firms are subject to dynamic shifts in their institutional terrains triggered by a plethora of heterogeneous reform treatments as their governments endeavor to modernize their economies. The initiation of these potent large-scale reforms associated with transition such as economic decentralization, market liberalization, industrial restructuring and corporate ownership reform undoubtedly exert cross-cutting and transformational impacts on the resource endowments, adaptive capabilities and strategic behaviors of emerging market firms. Given this critical phenomenon, this dissertation is motivated by the primary research question – how does institutional transition and its related change processes operate to reconfigure and alter firm resources and capabilities for internationalization? Since a significant proportion of emerging market firms are owned by governments, this thesis investigates how reforms have transformed state-owned firms’ strategic characteristics for internationalization. The dissertation comprises of three research papers utilizing extensive primary fieldwork and a manually compiled panel dataset of Chinese firms to examine emerging market state-owned firms’ overseas activities. The first paper is a conceptual piece which develops an overarching framework to delineate the reconfigured orchestration of multiple institutional reforms in the emerging economy context can spawn organizational diversity among state-owned firms leading to their differing outward FDI strategies. The second paper builds on this notion of organizational diversity and investigates how corporate ownership reform confers varying levels of institutional competitive advantages to marketized and non-marketized state owned firms to support their overseas venturing. It further examines how the relationship between firm ownership and outward FDI propensity is moderated by state-owned business group affiliation. The final paper studies how hybrid organizational forms arising from institutional transition such as university-run firms can evolve novel organizational features including ‘incubating platforms’ to launch overseas entrepreneurial spin-offs. URI: http://hdl.handle.net/10398/9113 Filer i denne post: 1
Ming_Hua_Li.pdf (2.466Mb) -
Bevan, Alan; Estrin, Saul; Meyer, Klaus (London, 2001)[Flere oplysninger][Færre oplysninger]
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Tiltrædelsesforelæsning 18.3.2005Lund, Anker Brink (København, 2005)[Flere oplysninger][Færre oplysninger]
Resume: Jeg har valgt at benytte denne anledning til at introducere et nyt forskningsfelt, som CBS International Center for Business and Politics har prioriteret som et af sine fem indsatsområder. Vi kalder det "institutionel konkurrence på mediemarkedet" og signalerer derved nogle frontale opgør med traditionelle dogmer i dansk medieforskning: For det første ser vi medierne som et marked for meninger, varer og tjenesteydelser – ikke primært som en kulturel offentlighed med ensidig fokus på public service. For det andet betragter vi medievirksomhed i et samfundsvidenskabeligt ledelsesperspektiv – ikke primært i et journalistisk medarbejderperspektiv eller et ideologikritisk licensbetalerperspektiv.For det tredje betragter vi konkurrencen på mediemarkedet som et institutionelt fænomen – ikke alene som noget driftsøkonomisk betinget. Vi forsøger kort sagt at finde en tredje vej mellem økonomisk determinisme og politisk reguleringsoptimisme. Derved placeres medievirksomhed som en institutionaliseret praksis i skæringspunktet mellem marked og politik. Vi anerkender, at dagspresse, radio og tv i Danmark er vokset ud af en publicistisk tradition med vægt på idealer om ytringsfrihed, demokrati og folkeoplysning. Men vi understreger samtidig, at medievirksomheden world-wide er big business – og at det får stadig større betydning for dansk konkurrenceevne og erhvervsudvikling mere alment. Ikke kun som kanal for andres meninger, men som en politisk aktør og et potentielt erhvervslokomotiv i den såkaldte oplevelsesøkonomi. URI: http://hdl.handle.net/10398/7368 Filer i denne post: 1
institutionel_konkurrenceevne-1.pdf (524.6Kb) -
Institutionelt brud i den offentlige moderniseringspolitik? OPP og udlicitering i de danske kommunerHelby Petersen, Ole; Ring Christensen, Lasse (, 2009)[Flere oplysninger][Færre oplysninger]
Resume: Vi stiller os i dette paper kritisk spørgende til det nye i OPP og søger at belyse, om OPP markerer et institutionelt brud med det i dansk moderniseringspolitik velkendte begreb udlicitering. Vi giver svar gennem to del-analyser. Først sammenlignes nøgletal for danske kommuners brug af udlicitering og arbejde med OPP-modellen. Analysen viser, at OPP-arbejdet overvejende foregår i større kommuner med en gennemsnitlig økonomi og en ideologisk sammensætning på borgmesterposterne på linje med gennemsnittet i landets kommuner. Hvorimod kommuner med højt udliciteringsniveau oftest ledes af borgerlige borgmestre, så er OPP-kommunerne økonomisk og ideologisk på linje med gennemsnittet af landets kommuner. I anden delanalyse kigger vi på reguleringsrammen for brug af henholdsvis OPP og udlicitering. Det kommunale selvstyre og de årlige kommuneaftaler fungerer som en institutionel ramme omkring de reguleringstiltag, som regeringen har mulighed for at anvende. Fælles for reguleringen af kommunernes udlicitering og OPP ligger et bærende princip om metodefrihed i opgaveløsningen. Hvor grænserne for metodefriheden går, er dog ikke en fastlåst størrelse, men genstand for løbende forhandling mellem det statslige og kommunale niveau. Vi konkluderer, at OPP på centrale parametre ikke blot er en forlængelse af udlicitering, men en selvstændig og bemærkelsesværdig kontraktmodel, som er ved at institutionaliseres i de danske kommuner. URI: http://hdl.handle.net/10398/7788 Filer i denne post: 1
WP CBP 2009-63.pdf (128.2Kb) -
Lunde Jørgensen, Ida (Frederiksberg, 2016)[Flere oplysninger][Færre oplysninger]
Resume: The thesis contributes to a more nuanced understanding of art support by investigating the underlying legitimations and institutional logics of two of the most significant foundations supporting visual art, in Denmark, the private New Carlsberg Foundation and public Danish Arts Foundation. Drawing on insights from neo-institutional and French convention theory, the thesis makes its central contributions within the fields of neo-institutional theory, cultural policy and philanthropy studies. The first paper shows the suitability of neo-institutional theory, particularly the theories of isomorphism, cultural and institutional entrepreneurship, institutional logics, and rhetorical work to address a number of key debates in cultural policy pertaining to the evaluation of aesthetic performance, the justification of investment in the arts and how ideas and meanings become taken for granted in the cultural policy field. In addition, the first paper theorizes the wider field of cultural policy, suggesting twelve institutional arenas where cultural policy is unfolded, of which the thesis focuses on public and private foundations. In the second paper, the thesis focuses on uncovering the key legitimations of art support in the New Carlsberg Foundation and the Danish Arts Foundation at critical points in time, drawing on and contributing to the literature on institutional logics and convention theory. Specifically, the thesis shows the importance of nine particular logics of legitimation underlying art support; the industrial, market, inspired, family, renown, civic, projective, emotional and temporal. Most central to the foundations’ operation are the professional (industrial), artistic (inspired) and civic logics. The thesis shows that the invocations of these logics are highly reflective upon wider societal institutions, prevailing institutional logics, the nature of the critical moment and the organisations’ practices and purpose. In the third paper the thesis hones in on the temporal logic, and draws attention to the micro-level use of this logic, which suggests that logics are invoked in characteristic ways. The third paper illuminates five distinctive uses of the past in the New Carlsberg Foundation, pertaining to the charter, the founding family, place, the moment and anecdotes and importantly shows that while some of these uses are reflected and instrumental, others are institutionalised and show propensity towards institutional reification. URI: http://hdl.handle.net/10398/9337 Filer i denne post: 1
Ida_Lund_Jørgensen.pdf (2.172Mb) -
Ludwig M. Lachmann’s Interpretative InstitutionalismFoss, Nicolai J.; Garzarelli, Giampaolo (København, 2006)[Flere oplysninger][Færre oplysninger]
Resume: The paper revisits the socioeconomic theory of the Austrian School economist Ludwig M. Lachmann. By showing that the common claim that Lachmann’s idiosyncratic (read: eclectic and multidisciplinary) approach to economics entails nihilism is unfounded, it reaches the following conclusions. (1) Lachmann held a sophisticated institutional position to economics that anticipated developments in contemporary new institutional economics. (2) Lachmann’s sociological and economic reading of institutions offers insights for the problem of coordination. (3) Lachmann extends contemporary new institutional theory without simultaneously denying the policy approach of comparative institutional analysis. (90 words.) Keywords Comparative institutional analysis, coordination, expectations, institutional evolution, interpretative institutionalism. JEL Codes B31, B52, B53, D80. URI: http://hdl.handle.net/10398/7417 Filer i denne post: 1
wp institutions as knowledge capital.pdf (310.3Kb) -
Meyer, Klaus (København, 2000)[Flere oplysninger][Færre oplysninger]
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the case of financial services in developing economiesPatibandla, Murali; Rosario, Shirley (København, 2002)[Flere oplysninger][Færre oplysninger]
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Alabau, Vicent; González-Rubio, Jesús; Ortiz-Martínez, Daniel; Sanchis-Trilles, Germán; García-Martínez, Mercedes; Mesa-Lao, Bartolomé; Cheung Pedersen, Dan; Dragsted, Barbara; Carl, Michael (Frederiksberg, 2014)[Flere oplysninger][Færre oplysninger]
Resume: This paper describes a pilot study with a computed-assisted translation workbench aiming at testing the integration of online and active learning features. We investigate the effect of these features on translation productivity, using interactive translation prediction (ITP) as a baseline. User activity data were collected from five beta testers using key-logging and eye-tracking. User feedback was also collected at the end of the experiments in the form of retrospective think-aloud protocols. We found that OL performs better than ITP, especially in terms of trans- lation speed. In addition, AL provides better translation quality than ITP for the same levels of user effort. We plan to incorporate these features in the final version of the workbench. URI: http://hdl.handle.net/10398/9070 Filer i denne post: 1
Michael Carl_ AMTA2014Proceedings_1.pdf (295.8Kb)