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Effects on Performance in Danish and Swedish BiotechnologyValentin, Finn; Dahlgren, Henrich; Lund Jensen, Rasmus (København, 2006)[More information][Less information]
Abstract: Although biotech start-ups fail or succeed based on their research few attempts have been made to examine if and how they strategize in this core of their activity. Popular views on Dedicated Biotech Firms (DBFs) see the inherent uncertainty of research as defying notions of strategizing, directing instead the attention to the quality of their science, or the roles of boards, management, and collaborative networks etc. Using a unique comprehensive dataset on Danish and Swedish biotech start-ups in drug discovery this paper analyzes their research strategies. Adopting a Simonean point of departure we develop a contingency view on complex problem solving which structures the argument into three steps: 1) Characterising the problem architectures addressed by different types of DBFs; 2) Testing and confirming that DBFs form requisite research strategies, by which we refer to problem solving approaches developed as congruent responses to problem architectures; 3) Testing and confirming that financial valuation of firms is driven by achievements conforming to requisite research strategies. These strategies, in turn, require careful combination of multiple dimensions of research. Findings demonstrate that Shonhoovens classical argument that "strategy matters" is valid not only for the larger high-tech firms covered by her study, but also for small research-based start-ups operating at the very well springs of knowledge where science directly interacts with technologies. Even though a lot more research is needed along these lines, these findings offer new implications for the understanding, management, and financing of these firms. JEL Codes: L25, L65, O32 URI: http://hdl.handle.net/10398/7214 Files in this item: 1
wp06-11.pdf (254.6Kb) -
Effects on Performance in Danish and Swedish BiotechnologyLund Jensen, Rasmus; Dahlgren, Henrich; Valentin, Finn (København, 2006)[More information][Less information]
Abstract: Although biotech start-ups fail or succeed based on their research few attempts have been made to examine if and how they strategize in this core of their activity. Popular views on Dedicated Biotech Firms (DBFs) see the inherent uncertainty of research as defying notions of strategizing, directing instead the attention to the quality of their science, or the roles of boards, management, and collaborative networks etc. Using a unique comprehensive dataset on Danish and Swedish biotech start-ups in drug discovery this paper analyzes their research strategies. Adopting a Simonean point of departure we develop a contingency view on complex problem solving which structures the argument into three steps: 1. Characterising the problem architectures addressed by different types of DBFs; 2. Testing and confirming that DBFs form requisite research strategies, by which we refer to problem solving approaches developed as congruent responses to problem architectures; 3. Testing and confirming that financial valuation of firms is driven by achievements conforming to requisite research strategies. These strategies, in turn, require careful combination of multiple dimensions of research. Findings demonstrate that Shonhoovens classical argument that "strategy matters” is valid not only for the larger high-tech firms covered by her study, but also for small research-based start-ups operating at the very well springs of knowledge where science directly interacts with technologies. Even though a lot more re-search is needed along 3 these lines, these findings offer new implications for the understanding, management, and financing of these firms. URI: http://hdl.handle.net/10398/6769 Files in this item: 1
wp02-2006.pdf (167.5Kb) -
Effects on Performance in Danish and Swedish Biotechnology ByValentin, Finn; Dahlgren, Henrich; Lund Jensen, Rasmus (Frederiksberg, 2006)[More information][Less information]
Abstract: Although biotech start-ups fail or succeed based on their research few attempts have been made to examine if and how they strategize in this core of their activity. Popular views on Dedicated Biotech Firms (DBFs) see the inherent uncertainty of research as defying notions of strategizing, directing instead the attention to the quality of their science, or the roles of boards, management, and collaborative networks etc. Using a unique comprehensive dataset on Danish and Swedish biotech start-ups in drug discovery this paper analyzes their research strategies. Adopting a Simonean point of departure we develop a contingency view on complex problem solving which structures the argument into three steps: 1) Characterising the problem architectures addressed by different types of DBFs; 2) Testing and confirming that DBFs form requisite research strategies, by which we refer to problem solving approaches developed as congruent responses to problem architectures; 3) Testing and confirming that financial valuation of firms is driven by achievements conforming to requisite research strategies. These strategies, in turn, require careful combination of multiple dimensions of research. Findings demonstrate that Shonhoovens classical argument that “strategy matters” is valid not only for the larger high-tech firms covered by her study, but also for small research-based start-ups operating at the very well springs of knowledge where science directly interacts with technologies. Even though a lot more research is needed along these lines, these findings offer new implications for the understanding, management, and financing of these firms. URI: http://hdl.handle.net/10398/7879 Files in this item: 1
DRUID_06_11.pdf (254.6Kb) -
Seabrooke, Leonard (København, 2006)[More information][Less information]
Abstract: Since the Asian financial crisis of 1997-1998 the International Monetary Fund (the Fund) has been embroiled in an international crisis of legitimacy. Assertions of a crisis are premised on the notions that the Fund’s voting system is unfair, and that the Fund enforces homogenous policies onto borrowing member states and that loan programs tend to fail. Seen this way, poor institutional and policy design has led to a loss of legitimacy. But institutionalised inequalities or policy failure is not in itself sufficient to constitute an international crisis of legitimacy. This article provides a conceptually-driven discussion of the sources of the Fund’s international crisis of legitimacy by investigating how its formal "foreground" institutional relations with its member states have become strained, and how informal "background" political and economic relationships are expanding in a way that the Fund will find difficult to re-legitimate. The difference between the Fund's claims to legitimacy and how its member states, especially borrowers, act has led to the creation of a "legitimacy gap" that is difficult to close. However, identifying the sources of the Fund's international crisis of legitimacy allows us to explore what avenues are available to resolve the crisis. URI: http://hdl.handle.net/10398/7321 Files in this item: 1
wp35_imf_ls.pdf (172.3Kb) -
strategy, R&D and the management of technologyHusted, Kenneth; Frøslev Christensen, Jens (København, 1999)[More information][Less information]
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An Assessment and Diagnosis of ProblemsFoss, Nicolai J. (Frederiksberg, 1997)[More information][Less information]
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An Assessment and Diagnosis of ProblemsJ. Foss, Nicolai (København, 1997)[More information][Less information]
Abstract: The resource-based approach to strategy, which reaches back to the contributions of Penrose, Selznick and Chandler, has gradually become the dominant perspective in strategy (content) research, arguably because it combines realism with relative rigour. The present paper presents the main themes of the contemporary version of the resource-based perspective (Wernerfelt, Rumelt, Barney....) and diagnoses a number of problems, such as the lack of a clear terminology, unclarity as to what really is the unit of analysis, the role of the environment, and the seemingly different versions that exist of the perspective. The perhaps deepest problem, however, is the lack of theorizing with respect to the creation of new resources, which tends to give the perspective a retrospective character and makes its application to managerial practice. It is suggested that resource-based scholars may draw upon work relating to real options, complementarities and organizational learning if they wish to remedy this deficiency. URI: http://hdl.handle.net/10398/8117 Files in this item: 1
8778730198.pdf (167.9Kb) -
towards a sustainable explanation of competitive advantageFoss, Nicolai Juul; Knudsen, Thorbjørn (København, 2000)[More information][Less information]
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within mode changes and mode additionsPetersen, Bent; Welch, Lawrence S.; Nielsen, Kim V. (København, 1999)[More information][Less information]
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How the Economics of Property Rights Furthers the Resource-based ViewFoss, Kirsten; Foss, Nicolai J. (København, 2004)[More information][Less information]
Abstract: Abstract The economics of property rights furthers the resource-based view in a number of ways. Resource analysis is refined by conceptualizing resources as composed of multiple attributes to which property rights may be held. A resource owner’s ability to create, appropriate and sustain value from resources depends on the property rights that she holds to those resources and on the transaction costs of exchanging, defining and protecting the relevant property rights. While transaction costs are major sources of value dissipation, value may be created by reducing such dissipation. Implications for the RBV analysis of sustained competitive advantage are derived. URI: http://hdl.handle.net/10398/7297 Files in this item: 1
ckg-wp202004-09.pdf (318.9Kb) -
[More information][Less information]
Abstract: It has been argued that “… trade adjustment in East Asia…will be rapid and sizable, lifting aggregate growth in these economies even as the domestic non-tradable sectors continue to suffer a decline (as in Mexico)” (World Bank, 1998, p.5). Much hope has been pinned on the electronics industry to come through with rapid growth through expanding exports. Two arguments appear to bolster such an expectation: the severity of the region´s currency depreciations has lowered the cost of much of its electronics supply base relative to its competitors; and the electronics industry´s proven track record as an engine of export-led growth shows that it can be quickly started and accelerated in response to changes in the market. However, no export boom in electronics has (as yet) materialized. The paper analyzes what explains this puzzle. We first introduce a taxonomy of East Asia´s electronics firms and market segments to distinguish different capacities to ride out the crisis. We then discuss three barriers to an East Asian export boom in electronics: i) supply-side constraints that result from limited access to trade finance, and from the cost-increasing impact of local currency depreciations in highly import-dependent countries; ii) demand-related constraints, resulting from deteriorating growth perspectives in East Asia´s electronics export markets; and iii) deflationary pricing pressures, resulting from a narrow specialization in high-tech commodities that are characterized by periodic surplus capacity and price wars. Combined, these barriers have produced a vicious circle: once exports increase, net volume gains are likely to be offset by pricing losses. URI: http://hdl.handle.net/10398/8091 Files in this item: 1
x644977697.pdf (101.1Kb) -
Refashioning luxury goods through co-creationWolny, Julia; Hansen, Rina (Geneva, 2011)[More information][Less information]
Abstract: Sustainable fashion in all its guises, has been the preoccupation of many a recent campaign, article, research and initiative. Not only is the industry increasingly aware of the need to cut its environmental impact, but also consumers and consumer organisations are putting pressures on various parts of the supply chain to comply with environmental and ethical practices. Yet, from a management perspective, the economic impact of these demands can lead to conflicting priorities. In particular, the basic marketing concept of product lifecycle indicates the product’s gradual diminishing monetary returns through time. In this paper we will be analysing a case of a refashioning of products that are either obsolete or unsalable and making a commercially viable collection. In 2008 MCM collaborated with the London College of Fashion to reuse, recycle and redesign a number of end-of-line, dated handbags into new objects of desire with a new lifecycle. This case will form a basis of analysing the validity of such a product re-development tactic for other luxury brands. The paper will provides a blueprint for future re-fashioning initiatives by reflecting on the value inherent in the process for both users and firms alike. The paper contributes to the understanding of recycling and sustainable fashion from a theoretical perspective that links together the product lifecycle, co-creation and value creation theories. The main theoretical implication of the work concerns the framing of recycling and refashioning with the context of those linked concepts.According to this contribution, refashioning can enable value creation from obsolete products, especially if a co-design with consumers or users forms part of the proposition. On the managerial side, this study recognisees the economic drivers of business and highlights the commercial, not only environmental and societal benefits of recycling within the luxury sector. The recycled products stand in direct opposition to counterfeiting, which is evident in the uniqueness for refashioned products leading to the development of new objects of desire. URI: http://hdl.handle.net/10398/8525 Files in this item: 1
Rina_Hansen_2011_6.pdf (213.1Kb) -
Med særligt henblik på grønlandske forholdLund, Lars (København, 2007)[More information][Less information]
Abstract: Resource rents and models for taxation of these rents. Some references to the situation for Greenland. After a general introduction to the concept of rents the risk of distortion by double taxation of the normal capital income to investment is explained. Cash flow taxation or deduction in the tax base of investment times the risk free interest rate can be used to avoid this double taxation. Among other instruments to secure a part of rents for the public sector are direct participation and selling rights to exploit the resources by auction. The greater part of the paper is about taxation of rents in fisheries. The regulation is assumed to be based on professional advising and individual transferable quotas. Duties on the quota or a general cost increasing tariff, e. g. on fuel, are administratively simple models for taxation. Cost increasing indirect taxation has the good quality of incentive compatibility, as it supports the effort reducing aim of regulation. A concrete example illustrates a possible taxation of the prawn/shrimp fishery combining a duty on the quota with a tariff levied on the catch. Some comment are given on a recent report on the shrimp fishery (2005), and it is criticised for highlighting the theoretical qualities of Greenland’s fisheries policy, but neglecting the regulation and also to which extent incomes derived from quotas end up as income for Greenlandic households. URI: http://hdl.handle.net/10398/7559 Files in this item: 1
wp1-2007_rev.pdf (305.6Kb) -
Effects on Capacity Investments, Prices and WelfareBuehler, Stefan; Boom, Anette (København, 2006)[More information][Less information]
Abstract: We examine the effects of reorganizing electricity markets on capacity investments, retail prices and welfare when demand is uncertain. We study the following market configurations: (i) integrated monopoly, (ii) integrated duopoly with wholesale trade, and (iii) separated duopoly with wholesale trade. Assuming that wholesale prices can react to changes in retail prices (but not vice versa), we find that generators install sufficient capacity to serve retail demand in each market configuration, thus avoiding blackouts. Furthermore, aggregate capacity levels and retail prices are such that the separated (integrated) duopoly with wholesale trade performs best (worst) in terms of welfare. Keywords: Electricity, Investments, Generating Capacities, Vertical Integration, Monopoly and Competition. JEL-Classification: D42, D43, D44, L11, L12, L13 URI: http://hdl.handle.net/10398/7589 Files in this item: 1
wp11-2006.pdf (286.3Kb) -
A critical political economy perspectiveBuch-Hansen, Hubert (København, 2009)[More information][Less information]
Abstract: The focus of this thesis is one "component” of EC competition regulation, namely that of merger control. URI: http://hdl.handle.net/10398/7729 Files in this item: 1
hubert_buch-hansen.pdf (2.956Mb) -
Hagen Jørgensen, Ole (København, 2008)[More information][Less information]
Abstract: Using a stochastic overlapping generations model with endogenous labour supply, this paper studies the design and performance of a policy rule for the retirement age in response to fertility and mortality shocks. Two main results are derived: First, to oset a change in the labour force the retirement age should adjust more than proportionally to the fertility change and, second, to be socially desirable the retirement age should be indexed less than proportionally to changes in life expectancy. URI: http://hdl.handle.net/10398/7688 Files in this item: 1
dp 2008-03.pdf (361.1Kb) -
den glade skaberkraft og den sure dekonstruktion?Halskov Jensen, Elisabeth (København, 2003)[More information][Less information]
Abstract: Dette Working Paper kommer til at handle om, hvordan man egentlig kan finde på at arbejde med kritisk diskursanalyse og retorik på én gang, når nu diskursanalysen på den ene side hævder, at vi skal afsløre verdensanskuelser og magtforhold bag sprogbrug, og retorikken på den anden side er mere optaget af at fortælle os, hvordan vi skal styre og målrette vores sprogbrug i skabelsen af tekster. Hvis den kritiske diskursanalyse således repræsenterer ideer om, at mennesker og menneskelige relationer styres af normer, myter og kultur, og at det, vi skal stræbe efter, er at afsløre og dekonstruere dem for at imødegå faren for den totale kontrol, så er vel netop den klassiske retorik repræsentant for det modsatte, nemlig at vi skal operere inden for de afstukne grænser, som normerne og kulturen sætter, for bedst muligt at tale vores sag? Jeg vil her forsøge at vise, at denne fremstilling er for firkantet, og at den pointe, at sproget både skaber og skabes af mennesker og samfund i en dialektisk vekslen, er en hovedpointe i nutidige tilgange inden for både retorik og diskursanalyse. Ligeledes vil jeg argumentere for, at vi i vores private og professionelle virke både har brug for at 'pille tekster fra hinanden' og at vide, hvordan vi former dem på den mest hensigtsmæssige måde. Selv om jeg opererer med begreberne 'klassisk retorik' og 'kritisk diskursanalyse', er der ikke tale om, at jeg her hverken kan eller vil give nogen udtømmende, endsige grundig, gennemgang af nogen af områderne, ligesom jeg heller ikke vil forsøge at tage patent på, hvad hverken klassisk retorik eller kritisk diskursanalyse går ud på. Min artikel er blevet til på baggrund af mine egne beskedne erfaringer med begge områder, herunder mit empiriske arbejde med diskursanalyse af spanske avisartikler, hvor jeg anvender kritisk diskursanalyse a la Fairclough (1992, 1995). URI: http://hdl.handle.net/10398/6854 Files in this item: 1
nr.201-2003.pdf (193.8Kb) -
Lando, Henrik (København, 2005)[More information][Less information]
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Højlund, Holger (København, 2002)[More information][Less information]
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Heterogeneity and Non-LinearitiesIversen, Jens; Malchow-Møller, Nikolaj; Sørensen, Anders (Frederiksberg, 2010)[More information][Less information]
Abstract: The returns to education in self-employment are addressed in four different specifications of the relationship between log income and years of schooling. The specifications range from a standard Mincer equation with a constant percentage increase in income to an additional year of schooling to the most flexible specification with dummy variables for the different number of years of schooling split into different types of education. Based on the more flexible specifications, important non-linearities and heterogeneity in the returns to education in self-employment are found. These results are robust across different estimation methods: OLS; Heckit correction models to handle sample selection; and IV to deal with the potential endogeneity of years of schooling. Moreover, the results are insensitive to the use of different sample years, different definitions of self-employment, and different income measures for the self-employed. URI: http://hdl.handle.net/10398/8225 Files in this item: 1
Sorensen_WP_2010.pdf (411.9Kb)