Browsing Departments by Title
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Tang Andersen, Allan Sall (Frederiksberg, 2011)[More information][Less information]
Abstract: The topic of this thesis is the modeling of risks in interest-rate and inflation markets. Interest-rate risk is an important issue to investors. For instance, according to BIS (2010) the notional value of over-the-counter interest-rate derivatives markets is 465,260 billion US-dollar. This corresponds to 77 percent of the notional of the entire OTC derivatives market. Thus interest-rate derivatives is at the back-bone of the financial markets. According to ISDA (2009) 83 percent of Fortune 500 companies report using interest-rate derivatives in their risk management. Furthermore, many mortgage-based loans and pension contracts contain either explicit or implicit interest-rate options. Thus a better understanding of the interest-rate derivative markets, and the risk associated with the traded products is of great value, both to financial and non-financial companies as well as individuals.... URI: http://hdl.handle.net/10398/8339 Files in this item: 1
AllanSallTangAnderen_PhDThesis.pdf (2.088Mb) -
Henningsson, Stefan; Hanseth, Ole (, 2011)[More information][Less information]
Abstract: This paper inquires into the complexities of contemporary IT solutions based on a case study of the EU’s eCustoms initiatives using Manuel DeLanda’s Assemblage Theory. Technological innovations have enabled information infrastructures with dramatically increased number and heterogeneity of included components, and their dynamic and unexpected interactions. Unfortunately, lack of understanding of how the increasing complexity influences development initiatives is hampering effective information infrastructure development. Assemblage Theory can be seen as holistic synthesis of previous research streams seeking to explain how information infrastructures evolve in social contexts. Accordingly, in this paper it helps us getting a holistic grasp of the complexity of contemporary IT solutions and the “essence” of their dynamics. Through Assemblage Theory we explain how the European eCustoms information infrastructure has through a dialectic between stabilizing and destabilizing processes assumed its current shape - a result of decisions taken decades ago, path dependency, complexity, and accumulated emergence. URI: http://hdl.handle.net/10398/8632 Files in this item: 1
Henningsson_Hanseth_2011.pdf (680.2Kb) -
between the "unification" and "fragmentation" trapKnudsen, Christian (København, 2002)[More information][Less information]
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Jeppesen, Kim K. (København, 2008)[More information][Less information]
Abstract: This paper examines recent attempts to professionalize Danish public sector auditing by the establishment of a certification of public sector auditors known in Danish as Certificeret Offentlig Revisor (COR). The establishment of the COR-certification has led to a dispute over the public sector auditing jurisdiction between a coalition of public sector auditors and the professional bodies of the private sector auditors. The paper outlines the process that led to the decision to create the COR-certification, analyse the COR coalition’s attempt to build a network of support for its jurisdictional claim of expertise, and discusses the general implications of the case for the ongoing attempt to create a European certification of public sector auditors. *) Paper presented at the 5th EIASM International Conference on Accounting, Auditing & Management in Public Sector Reforms, Amsterdam September 3-5, 2008 URI: http://hdl.handle.net/10398/6745 Files in this item: 1
wp_2008-01.pdf (105.0Kb) -
Andersen, Steffen; Fountain, John; Harrison, Glenn W.; Rutström, E. Elisabet (, 2009)[More information][Less information]
Abstract: It is intuitive that decision-makers might have attitudes towards uncertainty just as they might have attitudes towards risk. However, it is only recently that this intuitive notion has been formalized and axiomatically characterized. We estimate the extent of uncertainty aversion in a manner that is parsimonious and consistent with theory. We demonstrate that one can jointly estimate attitudes towards uncertainty, attitudes towards risk, and subjective probabilities in a rigorous manner. Our structural econometric model constructively demonstrates the theoretical claims that it is possible to define uncertainty aversion in an empirically tractable manner. Our results show that attitudes towards risk and uncertainty can be different, qualitatively and quantitatively, and that allowing for these differences can have significant effects on inferences about subjective probabilities. URI: http://hdl.handle.net/10398/7803 Files in this item: 1
wp2009-7.pdf (467.5Kb) -
Andersen, Steffen; Fountain, John; Harrison, Glenn W.; Rutström, E. Elisabet (, 2009)[More information][Less information]
Abstract: Subjective probabilities play a role in many economic decisions. There is a large theoretical literature on the elicitation of subjective probabilities, and an equally large empirical literature. However, there is a gulf between the two. The theoretical literature proposes a range of procedures that can be used to recover subjective probabilities, but stresses the need to make strong auxiliary assumptions or “calibrating adjustments” to elicited reports in order to recover the latent probability. With some notable exceptions, the empirical literature seems intent on either making those strong assumptions or ignoring the need for calibration. We illustrate how one can jointly estimate risk attitudes and subjective probabilities using structural maximum likelihood methods. This allows the observer to make inferences about the latent subjective probability, calibrating for virtually any well-specified model of choice under uncertainty. We demonstrate our procedures with experiments in which we elicit subjective probabilities. We calibrate the estimates of subjective beliefs assuming that choices are made consistently with expected utility theory or rank-dependent utility theory. Inferred subjective probabilities are significantly different when calibrated according to either theory. URI: http://hdl.handle.net/10398/7801 Files in this item: 1
wp2009-5.pdf (435.4Kb) -
Ionascu, Delia; Kristjánsdóttir, Helga; Davies, Ronald B. (København, 2007)[More information][Less information]
Abstract: This paper applies the panel fixed effects with vector decomposition estimator to three FDI datasets to estimate the impact of time-invariant variables on FDI while including fixed effects. We find that the omission of fixed effects significantly biases several of these variables, especially those proxying for trade costs and culture. After including fixed effects, we find that many time-invariant variables indicate the importance of vertical FDI. We also find that by eliminating these biases, the differences across datasets largely disappear. Thus, controversies in the literature that are driven by differences in data sets may be resolved by using this estimation technique. JEL Classification: F14, F23 Key Words: Foreign Direct Investment, Trade Costs, Culture URI: http://hdl.handle.net/10398/7610 Files in this item: 1
wp2-2007.pdf (355.7Kb) -
Skov, Lise (, 2008)[More information][Less information]
Abstract: The question of ethics is about determining concepts of right and wrong human action. There are a number of ethical controversies in relation to the industries that dress the visible self, especially clothing, shoes, accessories and skincare industries. The most important are, firstly, representations of idealized gender and body images, secondly, fakes and counterfeits of branded goods, thirdly, working conditions, fourthly, environmental impact and sustainability, and fifthly, animal rights. In a strict philosophical sense, these issues cannot be said to be purely moral because they overlap with political, social, legal, economic and environmental concerns. But they are problems that have been cast in terms of right and wrong behaviour from the point of view of West European industries and consumers. Because both consumption and production of dress are highly globalized these debates in West Europe are not qualitatively different from those of other highly developed regions. Many ethical problems, campaigns and monitoring issues are distinctly transnational because both consumer markets and production systems are highly globalized. It is a paradox that while many consumers have a positive involvement with clothing in terms of emotional attachment and identification, they also tend to have a distinctively negative image of the industry behind. In fact, there is a widespread cynicism about the fashion industry. URI: http://hdl.handle.net/10398/7770 Files in this item: 1
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Greve, Carsten (København, 2006)[More information][Less information]
Abstract: This paper consists of Carsten Greve’s inaugrial lecture as new professor with special responsibilities for the areas public-private relationships and public management. First, the talk gives a view of how public-private partnerships have been defined in the literature. Then the talk focuses on the business of PPPs, including the way markets develop and are structured. The talk moves on to focus on the politics of PPPs, including the political processes in forming a policy on PPPs. The talk then discusses the interrelationship between business and politics within a political economy framework and institutional theory. The talk ends by considering the international perspective and the comparative research agenda. The conclusions highlight the research challenges for the future which include examining the stability and change in the use of market mechanisms in the delivery of public services in a historical-institutional perspective. URI: http://hdl.handle.net/10398/7347 Files in this item: 1
wp38_intl_ppp.pdf (194.4Kb) -
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Abstract: This paper discusses the changing relationship between the EU and Vietnam, and asks whether there is a shift from a “parental” to a “competitive” relationship. The focus of the paper is on the shift from aid to trade as the main interface between the EU and Vietnam. Aid relationships are often understood as hierarchical, linking a benevolent donor to a needy recipient, whereas commercial relationships are typically expected to involve a more competitive relationship. However, we argue that the bilateral relationship was never a “parental” one, even at the time when Vietnam’s relation to the EU was limited to aid. The reason is largely Vietnam’s historical experiences from the aid relationship with the Soviet Union, which created dependence and eventually an economic crisis when aid flows dried up in the late 1980s. Instead, there has been substantial tension between the donor community and Vietnam during most of the period since the early 1990s, when aid flows from the EU started growing. Regarding trade relations, we note that the EU’s increasing use of antidumping tariffs against Vietnamese exporters during the past years could be an indication of a less friendly and more competitive attitude towards Vietnam. However, it is likely that the antidumping measures used by the EU are not primarily directed at Vietnam, but rather at China. This means that Vietnam is affected by the re-polarization of the world economy through its proximity to and links with China, but that the relation is perhaps not as bad as the increasingly frequent trade conflicts may suggest. URI: http://hdl.handle.net/10398/8369 Files in this item: 1
Kokko_November_2011_CIBEM_WP.pdf (151.5Kb) -
Nielsen, Ruth (København, 2006)[More information][Less information]
Abstract: In EU law, nationality and gender were the only equality issues on the legal agenda from the outset in 1958 and for about 40 years. Multiple discrimination was not addressed until the 1990's. The intersectionality approach which has been widely discussed outside Europe has mainly been used with a view to gendermainstreaming the fight against other kinds of discrimination (on grounds of ethnic origin, age, etc). URI: http://hdl.handle.net/10398/7385 Files in this item: 1
multiple.discrim.oslo.2006.alt.pdf (140.3Kb) -
The prohibition against misleading names in an internal market contextRørdam, Mette Ohm (Frederiksberg, 2013)[More information][Less information]
Abstract: This thesis investigates how food naming is regulated in the European Union with the aim to structure and explain the different rules regulating food naming and the interactions between the different rules, thereby clarifying de lege lata. Further, the thesis sets out to determine to what degree the Member States within the EU are free to regulate the naming of imported as well as domestically produced food, by way of legislation and/or by enforcement of the prohibition against misleading names. The interaction between the prohibition against misleading names and the obligation to mutually recognise names which have been legally used in other Member States are central in this thesis. The first part of the thesis introduces the thesis subject and provides an explanation to the approaches taken. The empirical data used for identifying practical real-life cases concerning potentially misleading names is presented. The second part of the thesis elaborates on the various EU rules in secondary law, their scope and objectives, including an examination of the rationales behind the rules based on application of economic theory. The borderlines between the rules are clarified. Part three of the thesis contains legal dogmatic analyses and discussions of the different EU rules regulating food naming. The analyses of the rules are based on practical real-life cases in which food naming has shown to be a challenging task. The difficulties addressed relate to: precision of names (the task of finding a name precise enough to provide adequate information to consumers without narrowing the product’s competitive field); product identity (difficulties in naming products that refer to specific ingredients and in which traditional ingredients have been replaced); the use of geographical names (which potentially mislead consumers) and language difficulties. In the last chapter of part three an analysis is provided of the concept of fairness and general prohibition against misleading consumers in order to clarify the criteria for applying these in real-life cases. Despite the existence of rather detailed rules on naming and labelling of food, which provides clarity in relation to food naming, the application of these rules is dependent on consumers’ expectation and potentially deception which must be assessed on a case-by-case basis, whereby the predictability of the rules is weakened. Part four of the thesis focuses on the borderlines between primary and secondary EU law and on answering the second part of the research question. Primary EU law defines the fundamental borderlines for EU law on food names and limits how food legislation can and must be applied. First part of this analysis focuses on the naming of imported food products, while the second part focuses on the naming of domestically produced food. The relevant sources of law are analysed and discussions are provided. It is concluded that the principle of mutual recognition takes precedence over the prohibition against misleading names, which prevents Member States from regulating the naming of imported food, by way of legislation and by enforcement of the prohibition against misleading names. Secondary EU law also limits how Member States can regulate the naming of domestically produced food. Part five provides the conclusion to the research question. URI: http://hdl.handle.net/10398/8670 Files in this item: 1
Mette_Ohm_Rørdam.pdf (1.743Mb) -
A Corporate Governance ApproachKnudsen, Jette Steen (København, 2003)[More information][Less information]
Abstract: This article examines why Members of the European Parliament (MEPs) in 2001 turned down a proposal for an EU take-over directive? The first explanation focuses on party ideology. However, MEPs overwhelmingly voted according to national rather than party lines. Two additional explanations emphasise national characteristics: labour market legislation (national schemes to protect employees against dismissals) and corporate governance issues. Labour market legislation can explain the UK and German MEP votes but not the Swedish and French MEPs votes. These votes can be explained by emphasising measures against take-overs such as a high level of market capitalisation and unequal voting rights. URI: http://hdl.handle.net/10398/6617 Files in this item: 1
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Tackney, Charles T.; Sato, Toyoko; Strömgren, Ole (København, 2008)[More information][Less information]
Abstract: This paper was composed in the fall of 2007. It was then presented on 17 November 2007 at the Matchpoints Conference at the University of Århus, a conference jointly sponsored by the Irish Embassy to Denmark and the University of Århus. We subsequently presented the paper to an internal IKL session of colleagues involved in educational research (dubbed, the "Educational Irregulars’) and then offered the paper to an internal seminar of the Asian Research Center. Throughout this process, Maribel Blasco has been particularly helpful as a colleague with knowledge and interest in the role, nature, and politics of tertiary education. We learned through this process that our Working Paper is at least four separate research journal pieces – in potential. Thus, we file this as a record of a work in progress and as a follow up to the previously filed Working Paper we now refer to as the "EU-ROPE 1” paper – our first venture into exploring the educational character and implications of the CBS SPRØK undergraduate educational model. URI: http://hdl.handle.net/10398/6939 Files in this item: 1
wp 2008-2.pdf (222.4Kb) -
Roseberry, Lynn (København, 2006)[More information][Less information]
Abstract: On May 1 2004, 10 additional countries joined the European Union. Out of fears that the "old” member states would be swamped by cheap labour from the new member states, many of the old members chose to impose transitional rules on the mobility of labour from the new to the old member states. This report provides an analysis of the transitional rules put in place by the Danish government. What are the rules that apply to workers from the new member states compared to those that apply to workers from the old member states? How are these rules administered? And what are the social rights of workers from the new member states, e.g., in the form of access to social benefits? These are some of the questions addressed in this report. (Report in Danish). URI: http://hdl.handle.net/10398/7387 Files in this item: 1
rockwell2-1.pdf (267.3Kb) -
Moeran, Brian (, 2009)[More information][Less information]
Abstract: This paper describes and analyses preparations for the holding of an anthropologist potter’s one-man show in a Japanese department store. Based on participant observation, it describes in detail the strategic planning of, and preparations for, the fieldworker’s own pottery exhibition in a department store located in northern Kyushu, the southernmost of Japan’s four main islands and home to a long tradition of porcelain and stoneware production. The paper focuses on the main players in the ceramic art world; the social interaction underpinning an exhibition; the conflicting ideals of ‘aesthetics’, display and money (pricing); and the ways in which different sets of values, and evaluating processes, affected the reception of the author’s work. It concludes by developing a theory of values in the light of recent writings in the field of cultural economics. URI: http://hdl.handle.net/10398/7942 Files in this item: 1
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Moberg, Kåre (Frederiksberg, 2011)[More information][Less information]
Abstract: Interest in entrepreneurship education is growing over the world, especially in innovation based economies, such as Denmark (GEM, 2010). However, we know rather little about the outcomes of entrepreneurship education, in particular with respect to which type of course content produces the best results (i.e. most high performing entrepreneurs) and how this affects different types of students. There is a great variety of different views in the field of research concerning the content and structure of entrepreneurship courses, but no comprehensive study has yet been done in which these competing views are clearly articulated as rivals and tested against each other. There is also a lack of programme evaluations that use control groups and have a longitudinal design (Gorman, Hanlon & King, 1997; Karlsson & Moberg, 2011; Matlay, 2008). Those that have this setup often experience methodological problems due to their conceptual framework (Krueger, 2009), or they have a view of entrepreneurship that does not take into account the advancements within research that have been made during the last decade (Sarasvathy, 2008). Thus, we clearly need to dig deeper into this field in order to create methods and models that allow us to evaluate the outcomes of different types of entrepreneurship courses. In the beginning of 2011, the Danish Foundation for Entrepreneurship – Young Enterprise initiated a research project with the aim to further our understanding of the type of impact entrepreneurship education and different educational designs have on different types of students. Two longitudinal surveys, one with a focus on elementary- and secondary-level education and one with focus on tertiary-level education, will be performed and databases with students from all levels of the Danish educational system will be created. The surveys will use entrepreneurial self-efficacy (Mauer, Neergaard & Kirketerp, 2009) as a performance indicator, but in order to generate robust results the development of new measurement tools is needed. In this paper the initial phases of this project and the research design of these two surveys will be presented. The development of a new ESE scale and the results from the pilot surveys will also be presented. URI: http://hdl.handle.net/10398/8381 Files in this item: 1
Kaare Moberg_SMG WP 14_2011.pdf (718.6Kb) -
A Case of Restaurant RankingsChristensen, Bo T.; Strandgaard Pedersen, Jesper (Frederiksberg, 2011)[More information][Less information]
Abstract: This paper is concerned with evaluative practices within the culinary field. The focus is on the evaluative practices performed by two restaurant ranking systems, respectively the Michelin Red Guide system handled by the French tire manufacturer Michelin and the San Pellegrino ’World’s 50 Best Restaurant’ list organized by the English based Restaurant Magazine. Both ranking systems evaluate and rate restaurants (judging their food, service, physical setting and so forth) but in different ways through different practices and means, and with somewhat different results. URI: http://hdl.handle.net/10398/8393 Files in this item: 1
Christensen_Strandgaard-Pedersen_#66.pdf (208.4Kb) -
Junge, Martin; Severgnini, Battista; Sørensen, Anders (Frederiksberg, 2012)[More information][Less information]
Abstract: This paper investigates the importance of the educational mix of employees at the firm level for the probability of firms being involved in innovation activities. We distinguish between four types of innovation: product, process, organisational, and marketing innovation. Moreover, we consider three different types of education for employees with at least 16 years of schooling: technical sciences, social sciences, and humanities. Furthermore, we examine the influence of these different innovation activities on firm productivity. Using a rotating panel data sample of Danish firms, we find that different types of innovations are related to distinct educational types. Moreover, we find that firms that adopt product and marketing innovation are more productive than firms that adopt product innovation but not marketing innovation and firms that adopt marketing innovation but not product innovation. In addition, firms that adopt organisational and process innovation demonstrate greated productivity levels than forms that adopt organisational innovation but not process innovation that again demonstrate greater productivity than firms that do not adopt process innovation but not organisational innovation. Finally, we establish that product and marketing innovation as well as organisational and process innovation are complementary inputs using formal tests for supermodularity. Complementarity can be rejected for all other pairs of innovation types. URI: http://hdl.handle.net/10398/8498 Files in this item: 1
Junge_Severgnini_Sørensen.pdf (517.4Kb)