Browsing by Author "Pedersen, Torben"
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Pedersen, Torben (Frederiksberg, 2009)[More information][Less information]
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Complementary Explanations for Subsidiary Power in Multinational CorporationsMudambi, Ram; Pedersen, Torben (København, 2007)[More information][Less information]
URI: http://hdl.handle.net/10398/7472 Files in this item: 1
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The Roles of Knowledge Sources, Complementarities, and Organizational ContextFoss, Nicolai J.; Pedersen, Torben (København, 2001)[More information][Less information]
Abstract: We develop a view of the MNC as a knowledge-creating and and utilizing entity, building on the extant literature on the differentiated MNC as well as on Lyles and Schwenk’s work on corporate knowledge structures. The starting point for this conceptualization is that MNC management through choices regarding organizational control, motivation and context can influence the development, characteristics and transfer of knowledge. This extends existing literature. For example, in most of the literature, the characteristics of knowledge are seen as exogenous rather than endogenous variables. However, to the extent that management chooses a specific way of sourcing knowledge, it also implicitly chooses the characteristics of the sourced knowledge and the ease with which it can be transferred inside the MNC. This is because knowledge from different knowledge sources have different characteristics and are thus transferred at different cost. The six hypotheses that we draw from the main argument are tested on the basis of a unique and very rich dataset on subsidiary knowledge development (including information on the organizational setting, sources of subsidiary knowledge and the extent of knowledge transfer to other MNC-units) that has been constructed in connection with a cross-national project Centres of Excellence (Holm and Pedersen 2000a). The dataset covers more than 2.000 subsidiaries located in seven different European countries. 1 URI: http://hdl.handle.net/10398/6930 Files in this item: 1
linkwp01-30.pdf (285.8Kb) -
Pedersen, Torben; Thomsen, Steen (København, 1999)[More information][Less information]
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Pedersen, Torben; Thomsen, Steen (København, 2001)[More information][Less information]
Abstract: The causal relationship between insider ownership and market valuation is tested by simultaneous estimation of the causes and effect of insider ownership among the largest continental European companies. Controlling for nation and industry effects insider ownership (measured by the fraction of "closely held" shares) is found to have a positive effect on market valuation (market-to-book values). And market valuation is found to have a positive feedback effect on the level of insider ownership. The findings provide empirical support for a theoretical model proposed by La Porta et al (1999). But the results are also found to be sensitive to owner identity: while a higher level of financial and corporate insider ownership is found to increase market valuation, family ownership has no significant effect, and a higher level of government ownership is found to reduce market valuation. URI: http://hdl.handle.net/10398/6535 Files in this item: 1
linkwp01-13.pdf (92.70Kb) -
Impetus and SwitchingPedersen, Torben; Petersen, Bent; Benito, Gabriel R.G. (København, 2000)[More information][Less information]
Abstract: We thank the anonymous reviewers, Harald Biong, and Myles Shaver for their very helpful comments, Kim Vasant Nielsen for excellent research assistance, and Vibeke Henriksen for editorial assistance. Previous versions of this paper have been presented at the Academy of Management Annual Meeting, San Diego, August 1998, the 23rd EIBA Annual Conference, Stuttgart, December 1997, and in seminars at University of Vaasa, Swedish School of Economics, Norwegian School of Economics and Business Administration, Norwegian School of Management BI, and at the University of Melbourne. We thank participants at these meetings and seminars, in particular Ingmar Björkman, Andrew Delios, Carl Fey, Karin Fladmoe-Lindkvist, Mats Forsgren, Jean-Francois Hennart, Jan Johanson, Heli Korhonen, and Stephen Nicholas for their many comments and suggestions. URI: http://hdl.handle.net/10398/6918 Files in this item: 1
linkwp25.pdf (153.1Kb) -
A Learning PerspectiveLyles, Marjorie A.; Pedersen, Torben; Petersen, Bent (København, 2005)[More information][Less information]
Abstract: The study explores how firms close their knowledge gaps in relation to business environments of foreign markets. Potential determinants are derived from traditional internationalization process theory as well as more recent literature on organizational learning processes, including the concept of absorptive capacity. Building on these two literature streams a conceptual model is developed and tested on a set of primary data of Danish firms and their foreign market operations. The empirical study suggests that factors considered essential in traditional internationalization process theory, such as experiential learning, explains only a very limited part of perceived knowledge gaps. When factors pertaining to the concepts of absorptive capacity and superstitious learning are added, the explanatory power improves significantly. Apparently, our understanding of firms’ internationalization processes can be enriched by insights from organizational learning literature. Key words: Internationalization, knowledge gap, absorptive capacity, superstitious learning. JEL Codes: D21, F23, M10 URI: http://hdl.handle.net/10398/7434 Files in this item: 1
cbs forskningsindberetning smg 26.pdf (671.8Kb) -
different learning engagements of entrant firmsPetersen, Bent; Pedersen, Torben (København, 2001)[More information][Less information]
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Different Learning PathsPetersen, Bent; Pedersen, Torben (København, 2001)[More information][Less information]
Abstract: Much has been written about how international firms create and sustain firm-specific advantages that offset their liability of foreignness. Less attention has been devoted the question of how international firms can reduce their liability of foreignness. Looking for different paths of learning our study explores the dynamics of firms’ liability of foreignness. A sample of 494 international firms from Sweden, Denmark and New Zealand is clustered along three structural dimensions of liability of foreignness: (1) perceived lack of knowledge about the foreign market, (2) the longevity of operations in the foreign market, and (3) international experience of the entrant firm. The four clusters that precipitate represent different learning path positions. One group of firms can be identified as pre-entry learners, another group as post-entry learners. A minor group of firms is characterized by perceiving a persistent lack of knowledge about the foreign market they are operating in. One might speculate if these firms engage in any learning about the foreign business environment. Furthermore, the data suggest that firms with extensive international experience are more capable in familiarizing with the foreign business environment than are firms with little international experience. URI: http://hdl.handle.net/10398/6893 Files in this item: 1
linkwp01-11.pdf (146.1Kb) -
Holt, John; Purcell, William R.; Gray, Sidney J.; Pedersen, Torben (København, 2002)[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) -
Contextual Creation of Knowledge Versus Global Transfer of KnowledgeHolm, Ulf; Pedersen, Torben (København, 2000)[More information][Less information]
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US and EU EvidencePedersen, Torben; Thomsen, Steen; Kvist, Hans Kurt (København, 2001)[More information][Less information]
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Pedersen, Torben; Thomsen, Steen; Kvist, Hans Kurt (København, 2001)[More information][Less information]
Abstract: The causal relationship between insider ownership and market valuation is tested on a database of the largest EU and US companies. Using a Granger causality test insider ownership (measured by the fraction of closely held shares) is found to have a negative effect on market valuation (measured as the simple Tobin's Q ratio). And market valuation is found to have a negative effect on insider ownership. Consistent with an overall non-linear relationship as hypothesised by Morck et al. (1988) and Stultz (1988), the negative effect from insider ownership to performance is found to be significant only for companies with high initial levels of insider ownership, but insignificant for companies with low initial concentration levels. Furthermore, the effect on market valuation turns out to depend on system affiliation: it is only significant in continental Europe where average insider ownership is much higher than in the Anglo-American world (UK and US). URI: http://hdl.handle.net/10398/6900 Files in this item: 1
linkwp01-18.pdf (66.70Kb) -
An MNC Subsidiary Perspective on Knowledge OutflowsMahnke, Volker; Pedersen, Torben; Venzin, Markus (København, 2006)[More information][Less information]
Abstract: This empirical paper explores knowledge outflow from MNC subsidiaries and its impact on the MNC performance. We develop and test hypotheses derived from literature on MNC knowledge flows integrated with the perspective of knowledge-creating, self-interested MNC subsidiaries. The hypotheses are developed using a simultaneous equation model applied to a unique dataset encompassing a German MNC, HeidelbergCement. Enablers and impediments of knowledge outflows are assessed in order to explain why subsidiaries share their knowledge with other MNC units. Implications are examined by studying the link between knowledge outflows and subsidiary performance. Our findings suggest that knowledge outflows increase a subsidiary's performance only up to a certain point and that too much knowledge sharing may be detrimental to the contributing subsidiary's performance. URI: http://hdl.handle.net/10398/7464 Files in this item: 1
cbs forskningsindberetning smg 41.pdf (3.066Mb) -
Extending the diamond network modelGeisler Asmussen, Christian; Pedersen, Torben; Dhanaraj, Charles (København, 2006)[More information][Less information]
Abstract: We extend the ‘centers of excellence’ concept in the multinational corporation (MNC) literature to address the diversity and the multidimensionality of subsidiary competence and link such diversity to the host country environment. Using Rugman and Verbeke’s (1993) diamond network model of competitive advantage of nations, we hypothesize the contingencies under which heterogeneity in host environments influences subsidiary competence configuration. We test our model with data from more than 2,000 subsidiaries in seven Western European countries. Our results provide new insights on the evolution of subsidiary competence and how MNCs can overcome ‘unbalanced’ national diamonds by acquiring complementary capabilities across borders. Keywords: MNC environment, subsidiary competence configuration, industrial clusters, differentiated networks, subsidiary embeddedness. URI: http://hdl.handle.net/10398/7471 Files in this item: 1
cbs forskningsindberetning smg 105.pdf (815.6Kb) -
an empirical analysis of change in the organization of foreign distributionBenito, Gabriel R.G.; Pedersen, Torben; Petersen, Bent (København, 2000)[More information][Less information]
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Engwall, Lars; Marquardt, Rolf; Pedersen, Torben; Tschoegl, Adrian E. (København, 1999)[More information][Less information]
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Minbaeva, Dana B.; Pedersen, Torben (Frederiksberg, 2010)[More information][Less information]
Abstract: The emerging Knowledge Governance Approach asserts the need to build microfoundations grounded in individual action. Toward this goal, using the Theory of Planned Behavior, we aim to explain individual knowledge sharing behavior as being determined by the intention to share knowledge and its antecedents: attitude toward knowledge sharing, subjective norms, and perceived behavioral control. In addition, we consider managerial interventions (governance mechanisms) that managers can employ to influence the identified antecedents and thereby govern individual knowledge sharing behavior. We test the model arrived at on a dataset collected among individuals engaged in knowledge sharing in two competing firms. Results of the LISREL analysis show that the use of rewards affects attitudes toward knowledge sharing negatively, while the use of reciprocal schemes and communication mechanisms have a positive effect on subjective norms and perceived behavioral control, respectively. URI: http://hdl.handle.net/10398/8017 Files in this item: 1
CBS_Forskningsindberetning_SMG_245.pdf (357.8Kb) -
Theoretical Foundations and Research OpportunitiesFoss, Nicolai; Husted, Kenneth; Michailova, Snejina; Pedersen, Torben (København, 2003)[More information][Less information]
Abstract: An under-researched issue in work within the "knowledge movement" is the relation between organizational issues and knowledge processes (i.e., sharing and creating knowledge). We argue that managers can shape formal organization structure and organization forms and can influence the more informal organizational practices in order to foster knowledge sharing and creation. Theoretically, we unfold this argument by relying on key ideas of organizational economics and organizational behaviour studies. We put forward a number of refutable propositions derived from this reasoning. Acknowledgments We are grateful to Anna Grandori for numerous excellent comments on an earlier draft. The standard disclaimer applies. Keywords: Knowledge creation, knowledge sharing, governance, organizational economics, organizational behavior. URI: http://hdl.handle.net/10398/7311 Files in this item: 1
2003-governing knowledge.pdf (196.0Kb)
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