Browsing by Title
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Wihlborg, Clas; Angkinand, Apanard (København, 2005)[More information][Less information]
Abstract: The ambiguity in existing empirical work with respect to effects of deposit insurance schemes on banks’ risk-taking can be resolved if it is recognized that absence of deposit insurance is rarely credible and that the credibility of non-insurance can be enhanced by explicit deposit insurance schemes. We show that under reasonable conditions for effects on risk-taking of creditor protection in banking, and for effects on credibility of non-insurance of explicit coverage of deposit insurance schemes, there exists a partial level of coverage that maximizes market discipline and minimizes moral hazard incentives for risk-taking in banking. Using both the occurrence of banking crises and non-performing loans in the banking sector as proxies for excessive risk-taking the results strongly support this hypothesis in industrial and emerging market economies. Policy recommendations on the country level require analyses of institutional factors affecting the credibility of non-insurance. In particular, the implementation of effective distress resolution procedures for banks would allow governments to reduce explicit deposit insurance coverage and, thereby, to strengthen market discipline. JEL Classification: G21; G28; F43 Keywords: Deposit Insurance; Banking Crisis; Insolvency Procedures, Market Discipline URI: http://hdl.handle.net/10398/6808 Files in this item: 1
wplefic102005.pdf (642.4Kb) -
Lando, Henrik (København, 2006)[More information][Less information]
Abstract: This article derives key variables in the analysis of standards of proof in criminal law from basic conditional probabilities. The variables derived are the probability of correct and wrongful conviction, the expected sanction and society's incarceration costs, while the basic conditional probabilities are the probability of observing (any given) evidence against individual i given that individual j committed the crime (for any j including j equal to i). The variables are derived from the conditional probabilities as a function of the standard of the proof using simple Bayesian updating. URI: http://hdl.handle.net/10398/7225 Files in this item: 1
ssrn-id874907.pdf (143.3Kb) -
Olsen, Mia; Hedman, Jonas; Vatrapu, Ravi (Frederiksberg, 2012)[More information][Less information]
Abstract: Ubiquitous and pervasive computing is fundamentally transforming product categories such as music, movies, and books and the associated practices of product searching, ordering, and buying. This paper contributes to theory and practice of digital payments by conducting a design science inquiry into the mobile phone wallet (m-wallet). Four different user groups, including young teenagers, young adults, mothers and businessmen, have been involved in the process of identifying, developing and evaluating functional and design properties of m-wallets. Interviews and formative usability evaluations provided data for the construction of a conceptual model in the form of sketches followed by a functional model in the form of low-fidelity mockups. During the design phases, knowledge was gained on what properties the users would like the m-wallet to embody. The identified properties have been clustered as ‘Functional properties’ and ‘Design properties’, which are theoretical contributions to the on-going research on m-wallets. One of the findings from our design science inquiry into m-wallets is that everyday life contexts require that evaluation criteria have to be expanded beyond “functionality, completeness, consistency, accuracy, performance, reliability, usability, fit with the organization, and other relevant quality attributes” [12] that are used within current design science work. URI: http://hdl.handle.net/10398/8502 Files in this item: 1
Olsen_Hedman_Vatrapu.pdf (417.1Kb) -
A global perspective on ICT and illiteracyNielsen, Janni (København, 2005)[More information][Less information]
Abstract: The process of globalization is opening new windows for Danish initiatives. The requirement for innovation and development of new areas as a consequence of the globalization will lead to radical changes and the IT businesses need to take active part in the development. But in order to understand and explain the globalization process we also have to understand the limitations. One such limitation is found in the global digitalization of information- and communication processes. This global development requires, from the world citizens, literacy in use of computers. The majority of the world populations are illiterates, they are not only technical illiterates but also illiterates in the traditional sense: they cannot read and write, however, the global ICT development largely disregards the problem with illiteracy and cultural differences. It seems that a future area of growth for the Danish IT business with their specific competencies may be to strengthen the user oriented and interdisciplinary approaches to design and development of ICT applications - targeted to specific cultural groups and the illiterates - in developing countries and also to large groups of immigrants in the developed world. India is an example of the global structural changes. India has developed an impressive ICT industry and has a very high level of expertise in software engineering. India’s government has a vision for e-democracy and have implemented e-government systems, which also address the rural populations. But the Indian population is very large and the potential users are highly diverse groups of which many are illiterate. Denmark has an IT industry that supplements India’s, e.g. a strong expertise in e-government, and ICT for the agriculture. Denmark has a long tradition for cooperation between IT developers, researchers and users and is strong in interdisciplinary approaches to development and design of ICT applications. Denmark also has a tradition for a human centred design, and usability is seen as a competitive factor. In India usability is on the agenda in only few IT companies, and it is also new to the academic world (Pradeep Y. 2004). Copenhagen Business School, department of Informatics has for the last 18 months been involved in the establishment of a Euro-India Centre. The departments research group on human-computer interaction(HCI) has prioritized HCI work in the Asian world for the last 4 years (Clemmensen 2004, Nielsen Janni 2004, Nielsen, Clemmensen and Yssing 2002, Levinsen, K. 2002, Nielsen, Lene and Gregers Koch 2003). The wish for a collaborative network has come about as a result of meetings and discussions between researchers from especially India and Denmark and also from Great Britain and Sweden. The first Indian conference on HCI in December 2004 and the initiative from CBS, department of Informatics in May 2005 where an Indian – European workshop was held, created the basis for this network application. URI: http://hdl.handle.net/10398/6464 Files in this item: 1
11_2005.pdf (358.2Kb) -
Petersen, Christian; Plenborg, Thomas (København, 2007)[More information][Less information]
Abstract: Bonus plans have become a popular tool for compensating managers and employees. While other accounting studies on bonus plans typically focus on earnings management, for example by examining the association between cash bonuses and stock returns or the incentive for management to manage earnings, our study discusses specific issues that are relevant in designing and understanding bonus plans based on financial performance measures. Bonus contracts should be designed so they align the interest of management and owners. In practice, this is far more difficult than it sounds. We discuss issues that require special attention in preparing bonus contracts: Choice of performance measure(s), accounting issues, link between performance and bonus, and bonus threshold. Our study should be of interest to managers, compensation committees, investors and others interested in bonus plans. A proper bonus plan is essential to ascertain that management compensation is closely linked to management’s ability to create value. URI: http://hdl.handle.net/10398/6740 Files in this item: 1
wp_2007-05.pdf (99.26Kb) -
A Literature Study and A Preliminary ModelBøge Sørensen, Lars (København, 2004)[More information][Less information]
Abstract: Keywords Supply Chain Management, Supply Chain Design, Literature study Abstract Argues stability is a design objective for supply chain design alongside cost, lead time and responsiveness. Performs an extensive literature study on supply chain design, identifies methods, theories and objectives in the existing literature. Describes the concept external specificity and how it’s used to design supply chains. Using the concept upstream, archetypes of risk minimal and maximal design are identified. Downstream the concept describes two viable scenarios, one minimizing the impact, the other minimizing the probability of (intended) departure of a supply chain partner. Finally, principles for supply chain design are described and managerial outlined. URI: http://hdl.handle.net/10398/6298 Files in this item: 1
wp2004-01.pdf (18.41Mb) -
Ulslev Pedersen, Rasmus; Clemmensen, Torkil (Frederiksberg, 2012)[More information][Less information]
Abstract: In this paper we present a case study of early prototyping work performed within a Danish advanced technology project. We specifically investigate the problems and issues related to throw-away prototypes in sensor-intensive systems. An important criterion is to record and perhaps later reproduce the identified contributions of the throw-away prototypes, and to this end we use the educational version of Lego Mindstorms NXT. To achieve methodological rigor we have used the Design Science Framework by Hevner et. al. It allows us to focus on the prototyping effort (called the design cycle) without letting go of either the relevance or rigor related to the project. We relate the case study to a Human Work Interaction Design (HWID) framework for the use of interactive, sensor-intensive prototypes to develop interactive greenhouse climate management systems. By applying guidelines suggested in design science to the case studied, we identify a number of interactive prototypes that successively address core issues in this particular setting. Finally, the problems and issues pertaining to this setting is presented and identified. The main contribution of this paper is that it, by pointing out problems and issues related throw-away prototyping with sensor-intensive systems, extends the design cycle of the original design science framework. This is determined to be a necessary step in order to address the inherent multi-disciplinarily of sensor-intensive HWID systems. URI: http://hdl.handle.net/10398/8601 Files in this item: 1
Ulslev_Clemmensen.pdf (581.3Kb) -
et design perspektiv på repræsentationer af mennesket i Informationsteknologiens metoder og teknikkerNielsen, Janni; Ørngreen, Rikke; Levinsen, Karin; Yssing, Carsten; Clemmensen, Torkil; Nielsen, Lene (København, 2004)[More information][Less information]
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Pedersen, Jon O.; Vintergaard, Christian (København, 2001)[More information][Less information]
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Banghøj, Jesper; Petersen, Christian; Plenborg, Thomas (København, 2008)[More information][Less information]
Abstract: We examine what determines executive compensation in privately held firms. Our study is motivated by the fact that most studies in this area rely on data from publicly traded firms. Further, the few studies that are based on data from privately held firms only examine a limited number of determinants of executive compensation. Previous studies also assume that the quality of compensation contracts is identical across executives. Based on unique data from our survey we create a quality index on each executive’s bonus plan. We conjecture that the pay to performance relation is stronger for better designed bonus plans. URI: http://hdl.handle.net/10398/6751 Files in this item: 1
wp_2008-02.pdf (167.1Kb) -
Plenborg, Thomas; Petersen, Christian; Gabrielsen, Gorm; Banghøj, Jesper (Frederiksberg, 2009)[More information][Less information]
Abstract: We examine what determines executive compensation in privately held firms. Our study is motivated by the fact that most studies in this area rely on data from publicly traded firms. Further, the few studies that are based on data from privately held firms only examine a limited number of determinants of executive compensation. Our findings indicate that the pay to performance relation is weak. Board size and ownership concentration are the only corporate governance characteristics that explain variations in executive compensation. Executive characteristics like skills, title and educational attainment all explain variations in executive compensation. Contrary to our expectations we do not find a stronger pay to performance relation in firms with better designed bonus plans. URI: http://hdl.handle.net/10398/7958 Files in this item: 1
WP_2009-01[1].pdf (271.1Kb) -
Evidence using stochastic frontier approachSinani, Evis; Jones, Derek C.; Mygind, Niels (København, 2007)[More information][Less information]
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The case of biotechnology and pharmaceuticalsHarhoff, Dietmar; Reitzig, Markus (København, 2002)[More information][Less information]
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Schneider, Cédric (København, 2007)[More information][Less information]
Abstract: The aim of this paper is to study the determinants of the outcomes of patent applications (withdrawal, refusal or grant). The application process at the European Patent O¢ ce is modelled in three stages, using a Trivariate Probit model with double selectivity correction in order to test whether the applicants patenting history has an eect on the outcome of the current application. I investigate the behavior of the applicant after the patent o¢ ce has established the "state of the art", a precondition to an invention being patentable. The main results are (i) rms with large patents portfolios act following a "trial and error" strategy, by applying for large numbers of patents and thereafter waiting for the patent o¢ ce s nal decision when the expected probability of grant is high, (ii) the technological importance of a patent is a crucial determinant of a successful application grant, (iii) a withdrawal is to be regarded as an expected refusal, since applicants tend to withdraw their applications when there is evidence that the inventions cannot be considered to be novel or to involve an inventive step. patents, intellectual property rights URI: http://hdl.handle.net/10398/7693 Files in this item: 1
artikel 12.pdf (278.2Kb) -
Knudsen, Thorbjørn; Koed Madsen, Tage (København, 2001)[More information][Less information]
Abstract: The purpose of the present article is to contribute to a more detailed understanding of the determinants of the firm’s environmental performance. We pursue this aim by formulating a schematic theoretical model including a number of antecedents, mediators and consequences that are important according to the literature on environmental management and corporate greening. In addition, the model includes market orientation and the firm’s level of internationalization as possible determinants of environmental performance. Unfortunately, the previous empirical research on environmental management and corporate greening has not yet developed the measures needed to achieve a reasonable level of construct validity. To fill this gap, we complement previous research by developing and refining the multi-item scales necessary to measure the constructs of our theoretical model. We use a series of nested covariance structure models to test our theoretical model on survey data from 1995 and 1999. URI: http://hdl.handle.net/10398/6867 Files in this item: 1
linkwp01-27.pdf (125.7Kb) -
Rangvid, Jesper; Sørensen, Carsten (København, 1998)[More information][Less information]
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A Law and Economics Perspective on Optimal ContractingLando, Henrik (København, 2005)[More information][Less information]
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an analysis of ownership advantagesMeyer, Klaus E. (København, 1997)[More information][Less information]
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Pedersen, Torben (København, 2006)[More information][Less information]
Abstract: Subsidiary development is a multi-dimensional construct that cannot be captured just by looking at subsidiary roles, activities, etc. Three distinct dimensions of subsidiary development are identified and these are: scope of subsidiary (the breadth of activities), level of subsidiary competence (the depth of activities) and level of integration in the internal MNC-network. Birkinshaw and Hood (1998a) have in their seminal paper proposed a model where subsidiary development is determined by three factors: Headquarter assignment, dynamism of local business environment and subsidiary initiatives. This paper is the first to conduct a statistical test of this model on a large-sample data set including data of more than 2.100 subsidiaries located in seven different countries in Europe. The effect of the three determining factors on subsidiary development is tested simultaneously in a LISREL model. URI: http://hdl.handle.net/10398/7465 Files in this item: 1
cbs forskningsindberetning smg 40.pdf (2.251Mb) -
The Role of Physical and Intellectual InfrastructureKottaridi, Constantina; Bernhard Nielsen, Bo (København, 2003)[More information][Less information]
Abstract: Abstract In a recent global competitiveness report by the IMF, the four Nordic countries all ranked in top ten, attesting to the region’s growing attractiveness as a host location for MNCs. This paper investigates the driving forces determining foreign direct investment flows into Scandinavia. We use a panel data set covering FDI inflows to Denmark, Sweden, Norway and Finland for the period 1979-2000. Results suggest that, in addition to traditional determinants of FDI, technological advantages of the region are of particular importance for foreign investors. Thus, evidence is provided for the changing pattern of international production indicating strategic needs for MNCs to acquire assets and technology that are specific to particular locations. URI: http://hdl.handle.net/10398/6570 Files in this item: 1
bbn-wp4-2003.pdf (714.2Kb)