Titler
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Lando, Henrik (København, 2005)[Flere oplysninger][Færre oplysninger]
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Evidence from Sibling CorrelationsLindquist, Matthew; Sol, Joeri; Praag, Mirjam van; Vladasel, Theodor (London, 2016)[Flere oplysninger][Færre oplysninger]
Resume: Promoting entrepreneurship has become an increasingly important part of the policy agenda in many countries. The success of such policies, however, rests in part on the assumption that entrepreneurship outcomes are not fully determined at a young age by factors that are unrelated to current policy. We test this assumption and assess the importance of family background and neighborhood effects as determinants of entrepreneurship, by estimating sibling correlations in entrepreneurship. We find that between 20 and 50 percent of the variance in different entrepreneurial outcomes is explained by factors that siblings share (i.e., family background and neighborhood effects). The average is 28 percent. Hence, entrepreneurship is far less than fully determined at a young age. Our estimates increase only a little when allowing for differential treatment within families by gender and birth order. We then investigate a comprehensive set of mechanisms that explain sibling similarities. Parental entrepreneurship plays a large role in explaining sibling similarities, as do shared genes. We show that neighborhood effects matter, but are rather small, particularly when compared with the overall importance of family factors. Sibling peer effects, and parental income and education matter even less. URI: http://hdl.handle.net/10398/9423 Filer i denne post: 1
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Overgaard Olesen, Jan; Risager, Ole (København, 2000)[Flere oplysninger][Færre oplysninger]
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Lando, David; Mortensen, Allan (København, 2004)[Flere oplysninger][Færre oplysninger]
Resume: This paper investigates the pricing of step-up bonds, i.e. corporate bonds with provisions stating that the coupon payments increase as the credit rating level of the issuer declines. To assess the risk-neutral rating transition probabilities necessary to price these bonds, we introduce a new calibration method within the reduced-form rating-based model of Jarrow, Lando, and Turnbull (1997). We also treat split ratings and adjust for rating outlook. Step-up bonds have been issued in large amounts in the European telecom sector, and we find that, through most of the sample, step-up bonds issued by the two largest issuers have traded at a discount relative to comparable fixed-coupon bonds from the same issuers. Our findings cannot be attributed to traditional liquidity factors, and they suggest that issuing step-up bonds increased the cost of capital for the issuers. Keywords: defaultable bonds, step-up coupons, rating-based models JEL classification: G12, G13 URI: http://hdl.handle.net/10398/7184 Filer i denne post: 1
endeligt_wp_2004-9.pdf (412.0Kb) -
Foss, Nicolai Juul (København, 1997)[Flere oplysninger][Færre oplysninger]
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Overgaard Olesen, Jan; Risager, Ole (København, 2000)[Flere oplysninger][Færre oplysninger]
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Lando, Henrik (København, 1998)[Flere oplysninger][Færre oplysninger]
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A Case Study in Knowledge ManagementRazmerita, Liana (, 2011)[Flere oplysninger][Færre oplysninger]
Resume: This article focuses on the role of user modeling and semantic-enhanced representations for personalization. The paper presents a generic Ontology-based User Modeling framework (OntobUMf), its components and its associated user modeling processes. This framework models the behavior of the users and classifies its users according to their behavior. The user ontology is the backbone of OntobUMf and has been designed according to the Information Management System Learning Information Package (IMS LIP). The user ontology includes a behavior concept that extends IMS LIP specification and defines characteristics of the users interacting with the system. Concrete examples of how OntobUMf is used in the context of a Knowledge Management System (KMS) are provided. The paper discusses some of the implications of ontology-based user modeling for semantic-enhanced Knowledge Management (KM), and in particular for personal KM. The results of this research may contribute to the development of other frameworks for modeling user behavior, other semantic-enhanced user modeling frameworks or other semantic-enhanced information systems. URI: http://hdl.handle.net/10398/8932 Filer i denne post: 1
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tax neutrality in the discrete time modelAstrup Jensen, Bjarne (København, 2002)[Flere oplysninger][Færre oplysninger]
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J.M.P., Albin; Bjarne, Astrup Jensen; Anders, Muszta; Martin, Richter (København, 2006)[Flere oplysninger][Færre oplysninger]
Resume: This article deals with stochastic differential equations with volatility induced stationarity. We study of theoretical properties of such equations, as well as numerical aspects, together with a detailed study of three examples. URI: http://hdl.handle.net/10398/7167 Filer i denne post: 1
dcaf-wp-10.pdf (811.2Kb) -
Veugelers, Reinhilde; Schneider, Cedric (København, 2008)[Flere oplysninger][Færre oplysninger]
Resume: Recent policy initiatives in the EU aim at supporting so-called Young Innovative Companies (YICs). This paper provides empirical evidence from German CIS data on the innovative performances of this specific type of firms, supporting why they matter. We first characterize YICs in the sample of innovation active firms. We show that firms that combine newness, smallness and high R&D intensity, are rare in the sample of innovative firms, but achieve significantly higher innovative sales than other innovative firms, especially innovative sales that are new to the market. Not surprisingly, YICs view financial constraints, both internal and external, as an important factor hampering their innovation activities, significantly more so than other innovation active firms. This access to finance problem is an often used motive for government intervention. In Germany, subsidies schemes for innovation are general and not particularly targeted at YICs. When assessing the effectiveness of these public funding schemes for our sample firms, we find that they are not effective to increase the innovative sales of YICs, unlike the average innovative firm in our sample. URI: http://hdl.handle.net/10398/7663 Filer i denne post: 1
wp4-2008.pdf (209.8Kb) -
Does Design Affect Participation?Høgenhaven, Thomas (Frederiksberg, 2013)[Flere oplysninger][Færre oplysninger]
Resume: Governments in more than 55 countries have signed the international Open Gov-ernment Partnership and are currently implementing open government initia-tives, aiming to make governments and public sectors more collaborative, participatory, transparent, and technology-driven. If successfully implemented, such open government initiatives can improve democracy, efficiency, and innovation. As history demonstrates, it is hard to build sustainable online participation. Merely 25% of online communities gather more than 1,000 members in their lifetime. Most of the other 75 % fail due to lack of participation. Many open gov-ernment communities have shared or are likely to share the same destiny. Giving citizens, companies, and non-governmental organizations the chance to participate in government does not necessarily mean they will do it. Consequently, open government communities face a participation challenge. Current research shows that the design of the community plays a critical role in participation. Some design patterns foster participation while other patterns discourage it. Existing research also demonstrates that insights from the social sciences can be translated into design ideas and thereby help solve the participation problem. URI: http://hdl.handle.net/10398/8768 Filer i denne post: 1
Thomas_Hoegenhaven.pdf (6.382Mb) -
Nedergaard, Peter (København, 2005)[Flere oplysninger][Færre oplysninger]
Resume: The purpose of this paper is to address two normative and interlinked methodological and theoretical questions concerning the Open Method of Coordination (OMC): First, what is the most appropriate approach to learning in the analyses of the processes of the European Employment Strategy (EES)? Second, how should mutual learning processes be diffused among the Member States in order to be efficient? In answering these two questions the paper draws on a social constructivist approach to learning thereby contributing to the debate about learning in the political science literature. At the same time, based on the literature and participatory observations, it is concluded that the learning effects of the EES are probably somewhat larger than what is normally suggested, but that successful diffusion still depends on a variety of contextual factors. At the end of the paper a path for empirical research based upon a social constructivist approach to learning is suggested. URI: http://hdl.handle.net/10398/7364 Filer i denne post: 1
eu-coordination.pdf (183.4Kb) -
Methodological and Theoretical ConsiderationsNedergaard, Peter (København, 2007)[Flere oplysninger][Færre oplysninger]
Resume: The purpose of this paper is solely to address two interlinked methodological and theoretical questions concerning the Open Method of Coordination (OMC), using the European Employment Strategy as a case: First, what is the most appropriate approach to learning in the analyses of the processes of the European Employment Strategy (EES)? Second, how is mutual learning processes diffused among the Member States? In answering these two questions the paper draws on a social constructivist approach to learning thereby contributing to the debate about learning in the political science literature. At the same time, based on this concept of learning, it is concluded that the learning effects of the EES are probably somewhat larger than what is normally suggested, but that successful diffusion still depends on a variety of contextual factors. URI: http://hdl.handle.net/10398/7338 Filer i denne post: 1
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Beyond the Business CaseHolck, Jesper; Kühn Pedersen, Mogens; Holm Larsen, Michael (København, 2005)[Flere oplysninger][Færre oplysninger]
Resume: Lately we have seen a growing interest from both public and private organisations to adopt Open Source Software (OSS), not only for a few, specific applications but also on a more general level throughout the organisation. As a consequence, the organisations’ decisions on adoption of OSS are becoming increasingly more important and complex. We present three perspectives organisations can employ in their decisions: seeing OSS acquisition as a business case, as COTS acquisition, and as architectural change within a governance framework. We present case studies of decisions on OSS adoption, and categorise the decision criteria we have found. Our results indicate that for large-scale adoption of OSS, focus will be on architectural considerations: enterprise-wide architectures will at first be a barrier, but in the long term OSS’s support of open standards can be a major enabler for OSS adoption. In contrast, in smaller organisations and in small-scale adoption of OSS, the cheap price of OSS is a major enabler, as it provides a good opportunity for experiments and short-term economic benefits. For small organisations these experiments can lead to development of a common IT-architecture, and in larger organisations OSS can be adopted in niche-areas, without significantly violating an existing IT-architecture. Keywords: open source, COTS, IT architecture, governance URI: http://hdl.handle.net/10398/6471 Filer i denne post: 1
07_2005.pdf (167.0Kb) -
Implications for the Government PolicyKühn Pedersen, Mogens; Fomin, Vladislav V. (København, 2006)[Flere oplysninger][Færre oplysninger]
Resume: Literature review URI: http://hdl.handle.net/10398/6489 Filer i denne post: 1
08_2006.pdf (227.2Kb) -
Lund, Lars (København, 2006)[Flere oplysninger][Færre oplysninger]
Resume: The Greenland infrastructure for the airborne traffic uses Kangerlussuaq, Søndre Strømfjord, as hub. New scenarios may change that, and one possibility is the construction of a large airport at Nuuk with a 3000 m runway. The trunk line will then be between Copenhagen and Nuuk. In that case the village Kangerlussuaq will be abandoned. The paper analyses the size of the economic gain to Greenland of such a change. Using official statistics and information collected for the investigation a description is made of the employment structure and the income earned in the trades represented in Kangerlussuaq. It is then discussed to which extent people do tasks that will still be needed with the new structure and to which extent they will be set free to go into alternative production. The last possibility is regarded as a saving or as an increase in resources for Greenland, and the estimate is that this gain will amount to around 40 percent of the contribution to GDP in Kangerlussuaq. The saving is modified a little by the need of some new investments in Nuuk, mostly for housing. URI: http://hdl.handle.net/10398/7507 Filer i denne post: 1
wp1-2006.pdf (395.9Kb) -
Transaction cost and property rights perspectives on entrepreneurshipStieglitz, Nils; Foss, Nicolai J. (, 2009)[Flere oplysninger][Færre oplysninger]
Resume: Entrepreneurs in a competitive economy face three fundamental problems. They need to search for and discover a business opportunity (Kirzner, 1973), evaluate it (Knight, 1921), and then seize the opportunity to reap entrepreneurial profits (Schumpeter, 1911) (Langlois, 2007). The problem that we address is how the ability to exploit business opportunities is influenced by entrepreneurial search and the economic organization of entrepreneurship (Arrow, 1962; Lippman & Rumelt, 2003; Aghion et al., 2005; Foss et al., 2007). In many cases, the discovery for a new business opportunity needs to be motivated by expected gains, since the search and evaluation of business opportunities is a costly, resource-consuming process (Denrell, Fang & Winter, 2003; Nickerson & Zenger, 2004; Foss & Klein, 2005; Teece, 2007; Foss & Foss, 2008).1 We show the critical role of expectations for understanding of the economic organization of entrepreneurship, and argue that transaction cost economics, with its insistence on bounded rationality, but far-sighted contracting offers useful insights and presents rich opportunities for further theoretical and empirical research (cf. also Furubotn, 2002). URI: http://hdl.handle.net/10398/7784 Filer i denne post: 1
SMG WP 2009-04.pdf (208.1Kb) -
Considering systems risk from the offender’s perspectiveWillison, Robert; Backhouse, James (København, 2005)[Flere oplysninger][Færre oplysninger]
Resume: Systems risk refers to the likelihood that an IS is inadequately guarded against certain types of damage or loss. While risks are posed by acts of God, hackers and viruses, consideration should also be given to the ‘insider’ threat of dishonest employees, intent on undertaking some form of computer abuse. Against this backdrop, a number of researchers have addressed the extent to which security managers are cognizant of the very nature of systems risk. In particular, they note how security practitioners’ knowledge of local threats, which form part of such risk, is often fragmented. This contributes to situations where risk reducing efforts are often less than effective. Security efforts are further complicated given that the task of managing systems risk requires input from a number of departments including, for example, HR, compliance, IS/IT and physical security. In a bid to complement existing research, but also offer a fresh perspective, this paper addresses systems risk from the offender’s perspective. If systems risk entails the likelihood that an IS is inadequately protected, this text considers those conditions, within the organisational context, which offer a criminal opportunity for the offender. To achieve this goal a model known as the ‘Crime Specific Opportunity Structure’ is advanced. Focussing on the opportunities for computer abuse, the model addresses the nature of such opportunities with regards to the organisational context and the threats posed by rogue employees. Drawing on a number of criminological theories, it is believed the model may help inform managers about local threats and, by so doing, enhance safeguard implementation. URI: http://hdl.handle.net/10398/6453 Filer i denne post: 1
10_2005.pdf (413.3Kb) -
internationalization of Danish and Austrian businessesKlinge Jacobsen, Mår; Meyer, Klaus E. (København, 1998)[Flere oplysninger][Færre oplysninger]