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A Coordination Perspective on the FirmFoss, Kirsten (København, 2000)[More information][Less information]
Abstract: This paper develops a coordination perspective on the firm. The basic idea is to combine insights in the division of labor with insights into the allocation of property rights. Thus, a basic argument is that use rights over productive assets are necessary in order to accumulate the experience needed to perform improvements in production. Specialization in production accelerates the accumulation of skills from learning by doing in production. However, specialization introduces greater complexity and new kinds of tools and equipment and this in turn create uncertainty about the best way of coordinating the specialized and interdependent activities. The result may be bottlenecks in production and uneven development of components. Experimenting with the coordination of tasks is necessary in order to eliminate these problems. However, such experimentation is best facilitated by a certain structure of property rights. Coordination by direction provides a cheap way of conducting the experiments needed to collect information on how best to coordinate interdependent activities. URI: http://hdl.handle.net/10398/6919 Files in this item: 1
linkwp12.pdf (237.1Kb) -
Experiences from SingaporeOoi, Can-Seng (København, 2005)[More information][Less information]
Abstract: This paper draws inspiration from Edward Said’s orientalism, and examines how the three National Museums of Singapore – the Singapore History Museum, the Singapore Art Museum and the Asian Civilizations Museums – are orientalized. The process is mediated through the museums’ close links to tourism promotion in the city-state. The tourism authorities in Singapore have found that the city destination has become too modern and western for many tourists, and the destination has embarked on a campaign to make Singapore more oriental. The creation of the museums is one strategy to orientalize Singapore; these museums assert different layers of Singapore’s oriental identities. Each museum appropriates the tourist orientalist imagination in different ways. This paper argues that the orientalist imagination can be understood as a set of knowledge resources for the construction of local identities to enhance a destination’s uniqueness and attractiveness. Besides reviewing Said’s orientalism, this paper visits criticisms of the theory, within the context of the orientalization process of museums in Singapore. Keywords: orientalism, Singapore Art Museum, Singapore History Museum, Asian Civilizations Museum, Singapore tourism. URI: http://hdl.handle.net/10398/7399 Files in this item: 1
cdp05-01-csooibibl.pdf (170.2Kb) -
An Entrepreneurial Theory of Economic OrganizationKlein, Peter G.; Foss, Nicolai J.; Foss, Kirsten (København, 2006)[More information][Less information]
Abstract: Recent work links entrepreneurship to the economic theory of firm using the Knightian concept of entrepreneurship as judgment. When judgment is complementary to other as-sets, and these assets or their services are traded in well-functioning markets, it makes sense for entrepreneurs to hire labor and own assets. The entrepreneur’s role, then, is to arrange or organize the human and capital assets under his control. We extend this Knightian concept of the firm by developing a theory of delegation under Knightian uncertainty. What we call original judgment belongs exclusively to owners, but owners may delegate a wide range of decision rights to subordinates, who exercise derived judgment. We call these employees "proxy-entrepreneurs," and ask how the firm’s or-ganizational structure — its formal and informal systems of rewards and punishments, rules for settling disputes and renegotiating agreements, means of evaluating perform-ance, and so on — can be designed to encourage forms of proxy-entrepreneurship that increase firm value while discouraging actions that destroy value. Building on key ideas from the entrepreneurship literature, Austrian economics, and the economic theory of the firm we develop a framework for analyzing the tradeoff between productive and de-structive proxy-entrepreneurship. We link this analysis to the employment relation and ownership structure, providing new insights into these and related issues in the eco-nomic theory of the firm. Keywords: Judgment, entrepreneur, delegation, employment relation, ownership. JEL Codes: B53, D23, L2 URI: http://hdl.handle.net/10398/7452 Files in this item: 1
smg 2006-48.pdf (368.6Kb) -
Mikkelsen, Line; Hardt, Daniel; Ørsnes, Bjarne (Frederiksberg, 2011)[More information][Less information]
Abstract: Overt VP anaphors like do so, do it and do the same can host a following PP (Culicover & Jackendoff (2005:285–6), Huddleston & Pullum (2002:1533), Miller (2011:5–6), Sobin (2008:150, 155–157)): (1) The House is set to take up the final version of the funding bill tomorrow. The Senate will do the same on Thursday. [COCA] (2) You have jilted two previous fiances and I expect you would do the same to me. [COCA] Using (1) to fix terminology, the ANAPHOR is do the same, the ANTECEDENT is take up the final version of the funding bill, the ORPHAN is on Tuesday, and the CORRELATE is tomorrow. Examples like (2) are of particular interest because the correlate (two previous fiances) is inside the antecedent and, consequently, the orphan and the antecedent must interact to produce the interpretation of the clause containing the anaphor. In order to arrive at the interpretation ‘you would jilt me’, the me of the orphan must take the place of two previous fiances inside the antecedent VP. A superficially similar situation arises with remnants of ellipsis, including pseudogapping (3), sluicing (4), and fragment answers (5). In each case, the interpretation of the ellipsis clause combines part of the antecedent with all or part of the remnant. (3) I wouldn’t say that to my mother, but I would to you. (4) I know he gave the dresser away, but I don’t know to who. (5) Q: Who did he give the dresser to? A: To me. URI: http://hdl.handle.net/10398/8469 Files in this item: 1
mikkelsen_hardt_oersnes_2011.pdf (136.1Kb) -
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Koskela, Erkki; Poutvaara, Panu (København, 2008)[More information][Less information]
Abstract: We evaluate the effects of international outsourcing and labor taxation on wage formation and equilibrium unemployment in dual labor markets. Outsourcing promotes wage dispersion between the high-skilled and low-skilled workers. Higher domestic low-skilled wage tax, higher payroll tax and lower wage tax exemption increase optimal outsourcing. Outsourcing will reduce equilibrium unemployment of low-skilled workers both in the presence and absence of labor taxation. In the presence of outsourcing, wage tax, tax exemption and payroll tax have an ambiguous effect on equilibrium unemployment. Increasing the degree of tax progression decreases the wage rate and increases the demand of low-skilled workers. URI: http://hdl.handle.net/10398/7697 Files in this item: 1
dp 2008-09.pdf (203.0Kb) -
Lessons from EstoniaKhoury, Sarkis Joseph; Wihlborg, Clas (København, 2005)[More information][Less information]
Abstract: The literature on Currency Boards (CB) stops at the water edge in terms of dealing with the totality of the functions of a central bank. Monetary policy, and banking supervision can be "outsourced" in an open economy with substantial foreign direct investment (FDI) in the banking sector if political nationalism does not trump economic rationality. An orthodox CB renders the central banking function redundant in terms of interest rate and exchange rate determination. FDI in banking could perform the same role for the supervisory function of central banks. We use the case of Estonia to illustrate the feasibility of, and constraints on, outsourcing of central bank functions. A brief discussion of the Argentinian experience is used for contrast. Key words: Currency Board, Foreign Banks, Supervision, Regional Integration,outsourcing. URI: http://hdl.handle.net/10398/7168 Files in this item: 1
wplefic032005.pdf (270.1Kb) -
Towards a developing country firm perspectiveSchaumburg-Müller, Henrik; Pottenger, Eugene; Hansen, Michael W. (København, 2007)[More information][Less information]
Abstract: Changes of the global economy have led to a much deeper integration of firms from developing countries. Multinational corporations are increasingly using offshore-outsourcing to maintain competitiveness and market shares. While the implications of this trend has been studied from the point of view of the multinational firm and its home economy, far less attention has been paid to the developing country firm participating in the outsourcing arrangement and its strategic options. From this point of view this paper reviews the outsourcing literature and identifies theoretical contributions that can be employed to build a platform for analyzing the strategic implications of outsourcing for local firms in developing countries. URI: http://hdl.handle.net/10398/6758 Files in this item: 1
wps-2007_no.4.pdf (220.9Kb) -
Bennedsen, Morten; Schultz, Christian (København, 2003)[More information][Less information]
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Roy, Indrajit; Narayanan, K. (Frederiksberg, 2016)[More information][Less information]
Abstract: Indian OFDI has increased and diversified substantially in the last 10 years. This paper uses quantile difference-in-difference measure to estimate home country effects of the OFDI decision of Indian corporate on their firm level characteristics reflected in various financial/non-financial ratios. Quantile coefficients inform us about differential effects of OFDI on different segments of the probability distributions of these firm characteristics and also change in within group inequality. It is observed that in the Indian context, the ‘home’ effect of OFDI is a slow process and the true effect of OFDI is revealed as time progresses. Also the effects (dimension, intensity and significance level) of OFDI are not same across segments (top, median or bottom) of the distribution of the selected variables and effects are found to be mostly muted when they are analysed on the bases of mean of the distribution (i.e. general DiD effect). OFDI leads to (a) reduction of inequality of firms (b) improvement in R&D expense of firms except those firms with already relatively high expenditure (3rd quartile) (c) exports to sales initially improve for three years and then worsen for small firms (first quartile), however, for the mid-size firms (median) it worsens after one year and (d) median of operating ratio (expense/sales) as well as after tax profit margin (PAT/sales) worsened over the year. URI: http://hdl.handle.net/10398/9295 Files in this item: 1
CDP-60.pdf (390.2Kb) -
Theory and evidenceHansen, Michael W. (København, 2008)[More information][Less information]
Abstract: Indian outward foreign direct investment (FDI) has risen dramatically in recent years. This reflects that Indian multinational corporations (MNCs) are asserting an increasingly important role in the global economy, not only as resource and market seekers in less developed countries, but increasingly competing on par with western MNCs in their home markets. When we confront the Indian outward FDI path with theories of outward foreign direct investment from developing countries, a number of puzzles and anomalies becomes evident: Normally, we would expect strong inward FDI performance to precede strong outward FDI performance, however in India the rise in outward FDI has been almost simultaneous with the rise in inward FDI; Normally, we would expect developing country MNCs to invest in like or less developed countries, however Indian MNCs have in a rapid sequence moved into developed economies; Normally, we would expect developing country MNCs to be operating with less advanced technologies and business models, however Indian MNCs have moved directly into FDI in advanced sectors and technologies. This paper will offer a number of explanations for the unique Indian outward investment path, explanations that take their point of departure in the idiosyncratic nature of Indian industrialization. URI: http://hdl.handle.net/10398/6754 Files in this item: 1
wps-2007_no.8.pdf (248.0Kb) -
reducing employee computer crime through Situational Crime PreventionWillison, Robert; Siponen, Mikko (København, 2006)[More information][Less information]
Abstract: Employee computer crime represents a substantial threat for organisations. Yet information security researchers and practitioners currently lack a clear understanding of how these crimes are perpetrated, which, as a consequence, hinders security efforts. We argue that recent developments in criminology can assist in addressing the insider threat. More specifically, we demonstrate how an approach, entitled Situational Crime Prevention, can not only enhance an understanding of employee computer crime, but also strengthen security practices which are designed to address this problem. URI: http://hdl.handle.net/10398/6456 Files in this item: 1
11_2006.pdf (167.9Kb) -
Industry Involvment in the Development of Energy RegulationsGeorg, Susse; Garza de Linde, Gabriela; Schweber, Libby; Sexton, Martin (Frederiksberg, 2011)[More information][Less information]
Abstract: The 2002 European Union (EU) directive on the energy performance of buildings (Directive 2002/91/EC) set minimum standards on the energy performance of new buildings and existing buildings. It also indicated that these would be subject to periodic renovation. In some countries the directive supported policymakers in their bid for national commitments to carbon reduction. In others, it affirmed existing commitments. In most countries, it informed the ongoing reformulation of building regulations. This paper explores energy related developments in building regulations for new housing in Denmark (DK) and the United Kingdom (UK). The interest of the comparison lies in similarities in the type of changes introduced into the regulations and differences in industry responses. URI: http://hdl.handle.net/10398/8406 Files in this item: 1
Susse_Georg_2.pdf (97.79Kb) -
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Abstract: De faglige kilder er betydningsfulde for oversætteren af faglige tekster, fordi man her ser, hvordan fagfolk opfatter 'verden' og udtrykker sig, når de kommunikerer med hinanden. Når ingeniøren modtager en tekst, en oversættelse eller en tekst komponeret af sprogmedarbejderen, forventer han, at den giver mening og har nogenlunde samme sproglige karakteristika som de autentiske tekster, han plejer at læse; oversættere skal ikke være eksperter på det faglige indhold, men må kunne formidle det uden forvrængning. Sprogmedarbejderen må konsultere faglige tekster på kilde- og målsprog efter behov. Vi ved, at ikke alle fagfolk er lige sprogbevidste, og derfor er det vigtigt at sammenholde kilderne for at konstatere uoverensstemmelse eller diskrepans med hensyn til faglige eller sproglige forhold, eksempelvis typisk syntaks og kollokationer. Med hensyn til rent sproglige forhold må sprogmedarbejderen naturligvis korrigere. URI: http://hdl.handle.net/10398/6829 Files in this item: 1
arbejdspapirer04.pdf (811.7Kb) -
Med udgangspunkt i støtteverbers leksikaliseringsmønstre i dansk og franskHein, Birgitte (Frederiksberg, 2003)[More information][Less information]
Abstract: Enhver oversætter mellem et germansk sprog som dansk og et romansk sprog som fransk ved, at det ofte er bestemte sproglige konstruktioner, der volder problemer. En af disse konstruktioner består af et støtteverbum og et objekt, der tilsammen danner en semantisk enhed. Da denne konstruktion er hyppigt forekommende, specielt i juridiske og administrative tekster, kan det være af både praktisk og teoretisk værdi at skaffe et klarere billede af, hvordan konstruktionerne idiomatisk opbygges og bruges på de to sprog. Undersøgelsen søger at indskrive sig i en sammenhæng, der vedrører både oversættelse og lingvistisk beskrivelse, ud fra et ønske om at en komparativ beskrivelse skal kunne give en oversætter viden, som han kan bruge i sit praktiske arbejde. De fleste, som har benyttet computer-støttede oversættelser, må være enige i, at det stadig er nødvendigt med kvalificeret menneskelig oversættelse, hvis man skal have en idiomatisk korrekt og brugbart resultat. Der er ganske vist i dag mulighed for computer-støttede ”rå-oversættelser”. Somme tider kan disse oversættelser tjene til for eksempel at give en internetbruger et hurtigt indtryk af indholdet af en web-side på et sprog, som han ikke behersker.... URI: http://hdl.handle.net/10398/8623 Files in this item: 1
Birgitte_Hein.pdf (776.8Kb) -
En empirisk undersøgelse af effekten af lingvistisk kompleksitet og LSP på oversættelse af spanske teksterHalskov Jensen, Elisabeth (Frederiksberg, 1999)[More information][Less information]
Abstract: Det vi ved om oversættelsesprocessen er i dag i høj grad baseret på information om den strategiske adfærd, der kan eliciteres ved højttænkning og retrospektion — eller observeres af forsøgsiederen — under et givet oversættelsesforløb. Krings (1986), Lörscher (1991) og Kiraly (1995) er blandt de forskere, som på basis afempiriske analyser af høj ttænkningsprotokoller har udarbejdet modeller, hvor de gør rede for oversættelsesstrategier. Megen forskning har først og fremmest interesseret sig for at beskrive en adfærd hos oversætteren, som angiveligt var årsagen til mindre vellykkede oversættelser (f.eks. Königs 1993; Kussmaul 1995; Hönig 1995). En del studier har også sammenlignet professionelle og ikke professionelle eller gode versus dårlige oversættere (f.eks. Gerloff 1988; Jääskeläinen 1990; Tirkkonen-Condit 1991; Krings 1987, 1997). Alle disse studier har bidraget til, at vi i dag kan sætte ord på en stor del af den adfærd, der foregår i en oversættelsesprocces, men studiet af oversættelsesprocessen er stadig i sin begyndelse. Formålet med denne undersøgelse er at bidrage til beskrivelsen af, hvordan tekstuelle faktorer påvirker oversættelse. Fokus er således ikke på de strategier, som oversættere anvender under oversættelse, men på hvordan tekstprocessing påvirkes af henholdsvis tekstens krav til specialiseret forhåndsviden (LSP-viden) og dens lingvistiske kompleksitet. LSP-teksterne i denne undersøgelse er spanske juridiske tekster, og en gruppe semi-professionelle oversættere er valgt som informanter. URI: http://hdl.handle.net/10398/9317 Files in this item: 1
Elisabeth_Halskov_Jensen.pdf (8.118Mb) -
Clemmensen, Torkil; Roese, Kerstin (, 2009)[More information][Less information]
Abstract: In this paper, we analyze the concept of human-computer interaction in cultural and national contexts. Building and extending upon the framework for understanding research in usability and culture by Honold [3], we give an overview of publications in culture and HCI between 1998 and 2008, with a narrow focus on high-level journal publications only. The purpose is to review current practice in how cultural HCI issues are studied, and to analyse problems with the measures and interpretation of this studies. We find that Hofstede’s cultural dimensions has been the dominating model of culture, participants have been picked because they could speak English, and most studies have been large scale quantitative studies. In order to balance this situation, we recommend that more researchers and practitioners do qualitative, empirical work studies. URI: http://hdl.handle.net/10398/7948 Files in this item: 1
WP_2009_003.pdf (415.2Kb) -
Casanova, Lourdes; Crone Jensen, Elisabeth; Sloan, Pamela; Gradillas, Maria; Hockerts, Kai (København, 2008)[More information][Less information]
Abstract: This report summarizes selected findings of a three‐year research effort undertaken by INSEAD, Copenhagen Business School (CBS), Bocconi University, and the Leon Kosminski Academy. It is part of a larger European Commission‐funded study, entitled "RESPONSE”. This project has aimed at understanding how multinational firms see their responsibility towards society and how this is aligned (or not) with the expectations of their stakeholders. Preliminary findings were developed in a final report which was presented at a conference in autumn 2007 at INSEAD, Fontainebleau (please find link in the appendix). URI: http://hdl.handle.net/10398/7120 Files in this item: 1
wp csr 2008-06.pdf (1.271Mb) -
Does negative equity exist as a permanent feature in the Danish housing market?Lunde, Jens (København, 2005)[More information][Less information]
Abstract: House and flat prices have been through a tremendous bust and boom cycle in Denmark. From 1986 to 1993 real prices for houses and flats dropped by one third on average, foreclosures accounted for around 1/6 of the house and flat turnovers in numbers, and in reality the market for owner-occupied houses and flats was in a crisis. Initiated by a strong interest rate drop and by an expansive finance policy, the market turned. From 1993H1 to 2004H1 real house prices increased 76% and real flat prices 128%. Moreover, Denmark has a leading position in the international household debt race and as in many other countries the fear of the consequences of a strong interest rate increase for the housing market is widespread. Therefore, in order to examine the financial stability among owner-occupiers, a sample of approx. 40,000 owner-occupier families with data at household level has been drawn from the tax statistics for each year from 1987 to 2003. Through the analysis it is shown that the distributions of the owner-occupiers’ capital structure, measured by the net liability/housing wealth ratios, have more or less been the same throughout the 16 years, even during the long-lasting steep house and flat price rise. Moreover, since 1994 the median value of the net liability/income ratio has increased by 71% for all owner-occupiers and by 54% for owner-occupiers between 30-39 years of age.Finally, one last, important aspect of the financial stability of owner-occupiers, namely, their capacity to service their debt has been analysed. The owner-occupiers’ net interest expenditures/ income ratios before tax have been nearly halved from 1987 to 2003. Most of the drop happened during the years of the "housing market failure". From 1994 on the ratios were more slightly reduced and were in 2003 at 8.8% (median value) for all owner-occupiers and 12.2% for owner-occupiers between 30-39 years of age. However, if the reductions of the tax rates for deducting interest expenditures are taken into account, the 2003 after-tax-ratios are only about 2 percentage points below the 1987 after-tax ratios. At March 2005, a new challenge facing Danish owner-occupiers is that 50% of their mortgages carry interest adjustment. Keywords: house prices, housing wealth, real estate wealth, housing debt, mortgage debt, personal wealth, personal finance, loan-to-value, debt-to-income, interest expenditures, interest-to-income, financial stability. JEL classifications: D 14, E 44, G 21, R 20, R 31. URI: http://hdl.handle.net/10398/7197 Files in this item: 1
endeligt_wp_jens_lunde_2005_3.pdf (1.494Mb) -
Insights from Annual General MeetingsStrand, Therese (Frederiksberg, 2012)[More information][Less information]
Abstract: This thesis consists of five empirical studies, all relating to shareholder activism at annual general meetings. The first study concerns the structure and content of general meetings in Denmark and Sweden comparatively. The paper reveals significant differences in the level of activism, with Swedish investors being the most active in terms of proposals, proxy voting, and ‘voice’. The paper takes a legal approach, and discusses divergence in activism levels from the perspective of shareholder prerequisites to engage in monitoring efforts. Further, the paper investigating the topics addressed through questions and opinions. The results show that matters which can be categorized as irrelevant are reasonably rare. This is an important finding, as suggestions to abolish general meetings have often been based on the assumption that general meetings facilitate nothing but irrelevant, time consuming, and costly discussions that serves no monitoring function. The second study analyses the impact of voting power on shareholder activism. We hypothesize that there is a positive relationship between shareholder activism and a measure of the largest shareholder’s sensitivity to increased participation by small shareholders and find that firms’ amenability to small shareholder influence leads to more proposals by the nomination committee, but fewer proposals by other shareholders. We interpret this as evidence that the shareholder elected nomination committees effectively channel shareholder concerns and preempt other kinds of activism. Politicians and companies that desire active shareholders could improve the amenability of firms to shareholder influence by ownership transparency, shareholder committees, and contacts with shareholder associations and other vehicles for collective action... URI: http://hdl.handle.net/10398/8460 Files in this item: 1
Therese_Strand.pdf (1.719Mb)