Browsing Department of International Economics and Management (INT) by Title
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Consequences for Economic and Employment GrowthNarula, Rajneesh (København, 2004)[More information][Less information]
Abstract: This paper seeks to broaden our understanding of the concept underlying absorptive capacity at the macro –level, paying particular attention to the growth and development perspectives. We provide definitions of absorptive and technological capacity, external technology flows, productivity growth, employment creation and their interrelations. We then analyse the elements of absorptive capability, focusing on the nature of the relationship within a systems view of an economy, focusing primarily on the role of firm and non-firm actors and the institutions that connect them, both within and across borders. We also undertake to explain how the nature of absorptive capacity changes with stages of economic development, and the importance of the different aspects of absorptive capability at different stages. The relationship is not a linear one: the benefits that accrue from marginal increases in absorptive capability change over time. Finally, we provide a tentative and preliminary conceptual argument of how the different stages of absorptive capacity are related to productivity growth, economic growth and employment creation. Key words: New economy, absorptive capacity, knowledge URI: http://hdl.handle.net/10398/6559 Files in this item: 1
druid 04-02.pdf (446.8Kb) -
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Abstract: A number of influential studies have documented a considerable value premium for US stocks over long periods of time. Value stocks, defined as companies that trade at low price-earnings or price-book values, are reported to have given a higher mean return than growth stocks trading at high multiples. Outside the US, there is also robust evidence of a value premium for the UK, but otherwise the evidence is more uncertain due to data shortages. Studies of continental European and Asian markets are, for example, based on data that typically only covers 20 years of market history. The purpose of this paper is to report evidence for the Danish market using a consistent data set that extends over the period 1950-2008. On the basis of these data the paper investigates whether the value premium is a stylized fact or just a phenomenon that pops up every few decades only to disappear again. The results show that the Danish value premium exists and is significant over the long run. However, this paper also shows that the premium is not a simple constant but is volatile even across decades. URI: http://hdl.handle.net/10398/8241 Files in this item: 1
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Risager, Ole (København, 2008)[More information][Less information]
Abstract: A number of influential studies have documented a considerable value premium for US stocks over long time periods (Fama and French (1992, 2008), Lakonishok et al. (1994)). Stocks with low price-earnings multiples, price-book values and other measures of value are reported to have given a higher mean return than stocks with high multiples and high asset growth (Cooper et al. (2008)). Outside the US, the evidence is more uncertain due to data shortages. On the basis of a unique data set that extends over more than half a century, this paper not only shows that there is a value premium in the Danish market but also that growth stocks only produce high earnings growth in the run-up to portfolio formation. Growth stocks are therefore likely to have disappointed investors. We therefore also estimate the proportion of the premium that can be explained by growth stocks’ earnings disappointment. URI: http://hdl.handle.net/10398/6560 Files in this item: 1
wp1-2008.pdf (193.1Kb) -
Inter-firm Agreements in Eastern Europe's Car Component IndustryLorentzen, Jochen; Møllgård, Peter (København, 2000)[More information][Less information]
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Munar, Ana María (Frederiksberg, 2012)[More information][Less information]
Abstract: Tourists have happily embraced the possibilities of interactivity and publication provided by social media and Web 2.0. The last decade has seen a massive increase of digital content generated by tourists online. This paper examines the digitalization of tourists’ heritage experience, analyses the impact of social media and user generated content in the consumption of heritage sites, and discusses new forms of technologically mediated authenticity in tourism. Netnography and a constructive approach have been adopted for the examination of online communities and social networks. There are different types of tourist generated content online. This study focuses on the review genre and examines a purposive sample of data collected from Tripadvisor which, with over 30 million contributions, is the largest online community focusing on tourism and travel. Through a systematic analysis of tourists’ narratives and socio-technical structures, this study assesses how technologies influence tourists’ heritage experience. The research findings provide insights into the role that tourists’ online reviews play as mediators of the tourism experience and illustrate the features of an emerging virtual tourism culture. URI: http://hdl.handle.net/10398/8439 Files in this item: 1
Can-Seng_Ooi_WP120330.pdf (237.9Kb) -
Ooi, Can-Seng (Frederiksberg, 2013)[More information][Less information]
Abstract: Cities are becoming alike. As a result, there is a rise of “copy-cat” cities. There are many reasons for this, and this paper looks from the perspective of city branding: how does place branding lead to the homogenization of cities? Using the case of Singapore, and with references to Chinese cities, this paper highlights a number of accreditation tactics in place branding campaigns. Accreditation is necessary because the brand needs to seek credibility for the messages it sends. The types of accreditation used must also be globally understood, so as to reach out to diverse world audiences. URI: http://hdl.handle.net/10398/8677 Files in this item: 1
CLCS WP Ooi_New.pdf (891.5Kb) -
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