Browsing by Title
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Blomgren-Hansen, Niels (Frederiksberg, 2009)[More information][Less information]
Abstract: Modelling the e¤ects of mergers in the retail sector. According to the Danish Competition Act, a merger that impedes ef- fective competition signi cantly, in particular by creating or strengthening a dominant postition, shall be prohibited. To decide whether this is the case the authorities need a quanti able model of the relationship between the variables that are directly a¤ected by the merger and some measure of competition. In this paper we set up and calibrate a simple model of the inter- action of the retail and the wholesale markets based on a concrete case (the acquisition and merger of 250 shops previously organized in a vol- untary chain of shops comprising roughly half of the market for high-end cosmetics in Denmark). The model predicts that an unconditioned merger was likely to have a signi cant impact on retail prices, in particular through possible abuse of buyer-power, and that the authorities had good reasons for conditioning its approval on the removal of a number of contract-based barriers to entry. Analytically, the main results are the following: (1) In a linear model characterized by heterogenous products and constant marginal costs the optimal wholesale prices are una¤ected by the structure in the retail sec- tor. (2) The e¤ect on of buyer-power induced quantity discounts depends crucially on the speci c design of the rebate scheme: A relative discount on the list price the independent shops are charged increases the average retail price; A xed reduction relative to the pre-merger price reduces the average retail price). (3) Buyer-power induced retail price maintenance (RPM) increases the average retail price. RPM increases the competitive- ness and pro ts of the merged shops if producers keep wholesale prices unchanged. If, however, the producers adjust their wholesale prices, then RMP hurts merged and independent shops alike and bene ts only the producers. URI: http://hdl.handle.net/10398/7986 Files in this item: 1
wp8-2009.pdf (202.2Kb) -
Holst, Anders; Nalholm, Morten (København, 2004)[More information][Less information]
Abstract: In this paper an investigation of the pricing of callable annuities with interest-only (I-O) optionality is conducted. First the I-O optionality feature of callable annuities is introduced. Next an algorithm for pricing callable annuities with I-O optionality using the finite difference methodology, is formulated. This is then used to investigate optimal strategies of I-O bonds and impacts on prices from the I-O optionality. It is found that the I-O feature necessitates a simultaneous valuation of all elements of the callable I-O bond. Following this, the Greeks of the I-O bond are investigated. It is found that they are affected by the I-O feature, but only to a limited extent. Finally, a model of heterogenous prepayment decisions is incorporated into the framework. The model is extended to model heterogeneity in the I-O exercise decisions. The incorporation of heterogeneity in borrower decisions is found to lead to reasonable causalities. URI: http://hdl.handle.net/10398/7149 Files in this item: 1
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Rahbek Pedersen, Esben (København, 2008)[More information][Less information]
Abstract: The purpose of this article is to develop a model of how managers perceive the responsibilities of business towards society. The article is based on the survey responses of more than 1,000 managers in eight large international firms. It is concluded that the managerial perceptions of societal responsibilities differ in some respects from the mainstream models found in the corporate social responsibility (CSR) and business ethics literature. The article is an output of RESPONSE: an EUand corporate-funded research project on managerial perceptions of CSR. URI: http://hdl.handle.net/10398/7126 Files in this item: 1
wp cbscsr 2008-1.pdf (650.6Kb) -
Martensen, Anne; Hansen, Flemming (København, 2004)[More information][Less information]
Abstract: The paper reports findings from a larger study of sponsors and their relationship to sponsored parties. In the present reporting, the focus is on sponsors. Rather than evaluating such sponsorships in traditional effect hierarchical terms, a conceptual Sponsor Value Model is specified as a structural equation model where the drivers are attitudes towards the sponsorship and emotions towards the sponsorship. It is found that the two classes of variables describe different aspects of the perception of sponsorships, and that they both contribute significantly to the overall value of sponsoring for a particular company. In the present paper, two cases are shown for two major sponsors. The specified Sponsor Value Model is estimated by a partial least squares (PLS) method. It is found that the two sponsors are perceived differently, both in terms of emotional and attitudinal responses. It is also found that the emotional responses aroused by the sponsorships are at least as important as those ascribable to attitudinal elements. Key words: Sponsorship, emotional response, attitudes towards sponsorship, structural equation model URI: http://hdl.handle.net/10398/6642 Files in this item: 1
4_2004 .pdf (207.4Kb) -
The Role of Fundamentals Using a Regime-Switching ApproachNielsen, Steen; Overgaard Olesen, Jan (København, 2000)[More information][Less information]
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The Case of a Prepaid Danish CashcardHjelholt, Morten; Damsgaard, Jan (Frederiksberg, 2013)[More information][Less information]
Abstract: Payment transactions through the use of physical coins, bank notes or credit cards have for centuries been the standard formats of exchanging value. Recently online and mobile digital payment platforms has entered the stage as contenders to this position and possibly could penetrate societies thoroughly and replace current physical payment standards. This paper portrays how digital payment platforms evolve in socio-‐technical niches and how various technological platforms aim for institutional attention in their attempt to challenge earlier platforms and standards. The paper applies a co-‐evolutionary multilevel perspective to model the interplay and processes between technology and institutions wherein digital payment platforms potentially will substitute other payment platforms just like the credit card negated the cheque. We present a framework for understanding the evolution and transitions of payment platforms. We demonstrate the usefulness of the framework in a in-‐depth single case study of a prepaid cash card. The learning of past experience with digital payment platforms is demonstrated to be the right starting point for investigations into how new solutions might succeed or fail in the future. Thus we finally discuss how possible venues and routes of transitions appear in current evolution of digital payment platforms URI: http://hdl.handle.net/10398/8759 Files in this item: 1
Hjelholt_ITM_Com_12013.pdf (756.7Kb) -
The EU Regulator´s PerspectiveStaykova, Kalina; Damsgaard, Jan (Frederiksberg, 2013)[More information][Less information]
Abstract: The Single Euro Payments Area (SEPA) is probably the most ambitious self-regulatory project aimed at creating a single integrated European digital payments market since the introduction of the Euro. SEPA aims to make EU more innovative and competitive. When considering the SEPA initiative and combining it with the disruptive and innovative nature the mobile phone permeates, the result is a market that is rapidly transforming from well-established into a state of flux. We build a model to understand and explain this transformation of the digital payment infrastructure. The model captures the formation and development of digital payment infrastructure with a particular emphasis on the regulator´s perspective. It consists of four stages characterized by slow incremental change following by short rapid bursts of discontinuity. Each stage is portrayed by its evolutionary dynamics, the nature of the payment platform, the legal implications, the regulatory asymmetry, the level of competition, and what drives the discontinuity. URI: http://hdl.handle.net/10398/8834 Files in this item: 1
Staykova_Damsgaard.pdf (1.781Mb) -
The Yin-Yang Process of Top-Down and Bottom-Up MechanismsJuul Andersen, Torben; Hallin, Carina Antonia; Li, Xin (Frederiksberg, 2014)[More information][Less information]
Abstract: The organizational capacity to cope with unexpected changes remains a fundamental challenge in strategy as global competition and technological innovation increase environmental uncertainty. Conventional strategy-making is often conceived as a sequential linear process where we see it as a non-linear interaction between top-down and bottom-up mechanisms dealing with multiple actions taken throughout the organization over time. It is driven by intension but with a flexible balance between centralized (planned) and decentralized (spontaneous) activities. We adopt the principles of complementary Yin-Yang elements and Zhong Yong balance to explain the time bound interaction between these opposing yet complementary strategy-making mechanisms where tradeoffs and synergies are balanced across hierarchical levels. URI: http://hdl.handle.net/10398/9011 Files in this item: 1
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A Case of Danish Multinationals and their Subsidiaries in P.R. China and IndiaWorm, Verner; Xu, Xiaojun; Shinha, Jai b.P. (København, 2005)[More information][Less information]
Abstract: By drawing on a selective review of literature, we propose that the culture of Danish multinationals and transnational organizations interface with the Chinese and Indian societal and managerial cultures in order to create hybrid cultures in Danish subsidiaries in P. R. China and India. The hybrid culture moderates the relationships between the forms of knowledge and internationalization of multinationals on one hand and the transfer of knowledge on the other. It is postulated that stable cultural frames of the Danes and Chinese managers, both having stable cultural frame, will require long drawn efforts to overcome the cultural distance and transfer the various forms and levels of knowledge in the initial years of the subsidiaries. On the other hand, Indians’ style of switching their cultural frames will create less entry problems but more recurring problems once Danish multinationals will get going. Once the postulates are empirically validated, potential implications for strategic interventions are briefly discussed. Keywords: Knowledge transfer, culture, MNCs. URI: http://hdl.handle.net/10398/7400 Files in this item: 1
cdp2005-02worm.samlet.pdf (195.7Kb) -
Hansen, Torben (, 2012)[More information][Less information]
Abstract: Trust relates not only to customer trust in individual companies (i.e., narrow-scope trust) but also to the broader business context in which customer–seller relationships may develop (i.e., broad-scope trust [BST]). Based on two surveys comprising 1155 bank consumers and 817 insurance consumers, respectively, this study investigates the moderating influence of BST on relationships between satisfaction, narrow-scope trust, and loyalty and also examines the direct influence of BST on these variables. The results indicate that whereas BST negatively moderates relationships between satisfaction and narrow-scope trust and between narrow-scope trust and loyalty, BST positively moderates the relationship between satisfaction and loyalty. In addition, it is demonstrated that BST positively influences customer satisfaction and narrow-scope trust. C 2012 Wiley Periodicals, Inc. URI: http://hdl.handle.net/10398/8858 Files in this item: 1
moderating_influence_torben_hansen.pdf (677.6Kb) -
Thyssen, Ole (København, 2003)[More information][Less information]
URI: http://hdl.handle.net/10398/7722 Files in this item: 1
ole20thyssen20modernitetens20familie.pdf (173.8Kb) -
Foss, Nicolai J.; Stieglitz, Nils (Frederiksberg, 2010)[More information][Less information]
Abstract: We survey the resource-based view in strategic management, focusing on its roots in economics. We organize our discussion in terms of the Gavetti and Levinthal distinction between a “high church” and a “low church” resource-based view, and argue that these hitherto rather separate streams are increasingly overlapping. URI: http://hdl.handle.net/10398/8172 Files in this item: 1
CBS Forskningsindberetning SMG 261.pdf (200.4Kb) -
Kampagnestyring i Velfærdsstaten: En diskussion af trafikkampagners styringspotentialeSpeiermann, Sabrina (Frederiksberg, 2010)[More information][Less information]
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Baron, Irene (Odense, 2011)[More information][Less information]
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the case of Schindler ElevatorsMikkola, Juliana Hsuan (København, 2001)[More information][Less information]
Abstract: Modularity refers to the scheme by which interfaces shared among components in a given product architecture are standardized and specified to allow for greater reusability and commonality sharing of components among product families. The management of innovation through modular product architecture strategies is gaining increasing importance for firms, not only in practice but also from a theoretical perspective. It is argued that the degree of modularity inherent in a given product architecture is sensitive and highly dependent upon the number of components and the interface constraints shared among the components, modules, sub-systems, and systems. This paper applies a mathematical model, termed modularization function, for analyzing dynamics and the degree of modularity of a given product architecture by taking into account the following variables: number of components, number of interfaces, new-to-the-firm component composition, and substitutability factor. The application of the modularization function is illustrated with two elevator systems from Schindler Lifts of Switzerland: traction and hydraulic elevators. The comparative analysis of the elevators captures the sensitivity and dynamics of product architecture modularity created by three types of components (standard, neutral, and unique) and two types of interfaces (fundamental and optional). URI: http://hdl.handle.net/10398/6881 Files in this item: 1
wp01-06.pdf (82.05Kb) -
Hsuan Mikkola, Juliana (Frederiksberg, 2000)[More information][Less information]
Abstract: 2 Modularization assessment of product architecture by Juliana Hsuan Mikkola DRUID Dept. of Industrial Economics and Strategy Copenhagen Business School Howitzvej 60 DK-2000 Frederiksberg Denmark Tel: +45 3815 2941 Fax: +45 3815 2540 Email: jh.ivs@cbs.dk Abstract Modularization refers to the opportunity for mixing-and-matching of components in a modular product design in which the standard interfaces between components are specified to allow for a range of variation in components to be substituted in a product architecture. It is through mixing-and-matching of these components, and how these components interface with one another, that new systems are created. Consequently, the degree of modularization inherent in a system is highly dependent upon the components and the interface constraints shared among the components, modules, and sub-systems. In this paper, a mathematical model is derived for analyzing the degree of modularization in a given product architecture by taking into consideration the number of components, number of interfaces, the composition of new-to-the-firm (NTF) components, and substitutability of components. An analysis of Chrysler windshield wipers controller suggests that two product architectures may share similar interface constraints, but the opportunity for modularization of one module is significant higher than the other due to the higher substitutability of its components and lower composition of NTF components. URI: http://hdl.handle.net/10398/8082 Files in this item: 1
8778730880.pdf (120.5Kb) -
Mikkola, Juliana Hsuan (Frederiksberg, 2000)[More information][Less information]
Abstract: Modularization refers to the opportunity for mixing-and-matching of components in a modular product design in which the standard interfaces between components are specified to allow for a range of variation in components to be substituted in a product architecture. It is through mixing-and-matching of these components, and how these components interface with one another, that new systems are created. Consequently, the degree of modularization inherent in a system is highly dependent upon the components and the interface constraints shared among the components, modules, and sub-systems. In this paper, a mathematical model is derived for analyzing the degree of modularization in a given product architecture by taking into consideration the number of components, number of interfaces, the composition of new-to-the-firm (NTF) components, and substitutability of components. An analysis of Chrysler windshield wipers controller suggests that two product architectures may share similar interface constraints, but the opportunity for modularization of one module is significant higher than the other due to the higher substitutability of its components and lower composition of NTF components. URI: http://hdl.handle.net/10398/7900 Files in this item: 1
DRUID_00_04.pdf (120.5Kb) -
Improving Lead-Time in Product DevelopmentFoss, Kirsten (København, 2001)[More information][Less information]
Abstract: The impact of modular products on the organization of product development has recently attracted interest in academia. This paper explores the economic rational behind the idea that modular products result in modular product organizations using a team-theoretic approach. An important implication that can be drawn from team theory is that the nature of the design problem and the way in which it can efficiently be decomposed into design tasks strongly influence the information structures of organizations and therefore also the extent to which the organization can be characterized as a modular organization. Different economic rationales behind task definitions are identified and discussed. The organization of product development activities also can be expected to vary with the main goal of the product development team. I argue that when the minimization of lead-time is the main goal one should expect to find a more modular product development organization among firms that follow a modular product development strategy compared to those that follow an integral product development strategy. URI: http://hdl.handle.net/10398/6931 Files in this item: 1
linkwp01-12.pdf (364.7Kb) -
Florentsen, Bjarne; Møller, Michael; Nielsen, Niels Chr. (København, 1999)[More information][Less information]
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The Choice of Educational TypeAlstadsæter, Annette; Kolm, Ann-Sofie; Larsen, Birthe (København, 2005)[More information][Less information]
Abstract: This paper examines the effect of taxes on the individuals' choices of educational direction, and thus on the economy.s skill composition. A proportional labour tax induces too many workers with high innate ability to choose an educational type associated with high consumption value and low effort. This increases the skill mismatch and aggregate unemployment in the economy. The government can correct for this distortion by use of differentiated tuition fees or tax rates. JEL codes: J64, J68, H21, H24 Keywords: Unemployment, matching, education, optimal taxation, tuition fees URI: http://hdl.handle.net/10398/7562 Files in this item: 1
wp23-2005.pdf (207.8Kb)