Browsing Centres by Title
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Keuschnigg, Christian; Nielsen, Søren Bo (København, 2003)[More information][Less information]
Abstract: In this paper we set up a model of start-up finance under double moral hazard. Entrepreneurs lack own resources and business experience to develop their ideas. Venture capitalists can provide start-up finance and commercial support. The effort put forth by either agent contributes to the firm’s success, but is not verifiable. As a result, the market equilibrium is biased towards inefficiently low venture capital support. The capital gains tax becomes especially harmful, as it further impairs advice and causes a first-order welfare loss. Once the capital gains tax is in place, limitations on loss off-set may paradoxically contribute to higher quality of venture capital finance and welfare. Subsidies to physical investment in VC-backed startups are detrimental in our framework. Keywords: Venture capital, capital gains taxation, double moral hazard. JEL-Classification: D82, G24, H24, H25 URI: http://hdl.handle.net/10398/6821 Files in this item: 1
wplefic032003.pdf (694.8Kb) -
A Property Rights Perspective on The Nature of The FirmFoss, Kirsten (Frederiksberg, 1998)[More information][Less information]
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A Paradigmatic ApproachLlerena, Patrick; Matt, Mireille (Frederiksberg, 2000)[More information][Less information]
Abstract: The main objective of the paper is to provide an analytical framework based on evolutionary arguments, explaining the role and rationale of technology policies based on inter-organisation cooperations. We try to combine different arguments developped in the literature in order to define a coherent approach of technology policies : organisational, failure and paradigmatic approaches. We will argue that the role of technological policies and their design are contingent on whether knowledge creation emerges in an existing technological paradigm or will be at the origin of a new one. In the first part of the paper, we will define two broad kinds of cooperative policy : one (pre-paradigmatic) devoted to create radically new knowledge by exploring new avenues in order to initiate a new technological paradigm and the other (paradigmatic) devoted to create new knowledge by using exploitation mechanisms in order to maintain technological options and variety, inducing innovation and reducing negative lock-in effects. We specify also for each situation the kind of intervention (coordination, institutional structure) compatible with the objective of the policy. In the second part of the paper, we will illustrate our theoretical arguments by focusing on two types of cooperative programme : one devoted to create a new knowledge base in a pre-paradigmatic phase (the development of a digital switching system in France) and the other more devoted to foster knowledge in existing paradigms (the case of Brite-Euram). URI: http://hdl.handle.net/10398/8084 Files in this item: 1
8778730864.pdf (82.27Kb) -
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a survey with special focus on KazakhstanMeyer, Klaus E.; Pind, Christina (København, 1998)[More information][Less information]
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Mygind, Niels (København, 2000)[More information][Less information]
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Vetterlein, Antje; Brown, Dana; Roemer-Mahler, Anne (København, 2009)[More information][Less information]
Abstract: An increasing number of firms are engaging in social and environmental initiatives beyond their core business activities. While much has been written on the question of why business should be spending resources on social and environmental causes, relatively few studies have systematically addressed the question of why companies actually do engage in such activities. A notable exception is literature on the ‘business case’ for corporate social responsibility, which argues that good social and environmental performance will positively affect a company’s financial results. Empirical evidence, however, has failed to prove this. Moreover, even if there is an economic rationale, it is not clear why some companies engage in social activities while others do not. And, why do many more companies today ‘see’ the business case than in the past? Our paper attempts to conceptualise the motives of companies to engage or not to engage in such activities. Drawing on theories from Management Studies, Sociology, Political Science and International Relations, we suggest modifying the notion of the business case by opening the black box of the corporation’s identity as a social actor. URI: http://hdl.handle.net/10398/7337 Files in this item: 1
wp cbp 2008-61.pdf (157.8Kb) -
A Stocktaking and AssessmentFoss, Nicolai J.; Klein, Peter G. (Frederiksberg, 2005)[More information][Less information]
Abstract: Ever since its emergence in the 1970s the modern economic or Coasian theory of the firm has been discussed and challenged by sociologists, heterodox economists, management scholars, and other critics. This chapter reviews and assesses these critiques, focusing on behavioral issues (bounded rationality and motivation), process (including path dependence and the selection argument), entrepreneurship, and the challenge from knowledge-based theories of the firm. URI: http://hdl.handle.net/10398/7890 Files in this item: 1
DRUID_05_03.pdf (363.9Kb) -
Precursor of The Competence-Based Approach to The FirmFoss, Nicolai J. (Frederiksberg, 1996)[More information][Less information]
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Studier af indrulleringsprocesser i forbindelse med introduktionen af kliniske kvalitetsdatabaser i speciallægepraksissektorenKousgaard, Marius Brostrøm (København, 2008)[More information][Less information]
Abstract: Since the late 1980s, concerns over quality of care have become a significant challenge to health care sectors across Europe, and numerous initiatives of quality assessment and improvement have been launched. In several western countries the idea of measuring the quality of clinical care by means of "quality indicators” has increasingly captured the attention of policy makers. In Denmark this development has been relatively pronounced, and today the principles of indicator monitoring constitute a crucial component in the national strategy of quality development. The so-called "clinical databases” are the oldest of the current indicator arrangements and this dissertation deals with the introduction of clinical databases in a particular branch of the health care sector where practising specialists in privately owned clinics offer medical services in accordance with collectively agreed reimbursement schemes. Inspired by actor-network theory this dissertation investigates the relations between the databases, their spokespersons, and the practising specialists who are supposed to be enrolled in the databases. The objective is to identify and articulate the various problematizations, interests, concerns, challenges and transformations that are involved in the process of enrolment. URI: http://hdl.handle.net/10398/6862 Files in this item: 1
marius_brostoem_ kousgaard.pdf (2.143Mb) -
Roseberry, Lynn (København, 2007)[More information][Less information]
Abstract: The purpose of this paper is to present a strategy for applying discourse analysis to the debate concerning the legal status of Corporate Social Responsibility ("CSR”). In the 1990s activists concerned with corporate involvement in activities that harm workers and the environment encouraged corporations to adopt voluntary initiatives, which have come to be known as CSR policies or corporate codes of conduct. Roughly ten years later NGOs like Christian Aid, which at first was a strong proponent of voluntary corporate codes of conduct, have begun calling for a greater emphasis on law and accountability mechanisms. Trade unions especially have expressed deep scepticism of the idea of CSR initiatives and the attendant industry that has grown up around them. The trade union movement criticises CSR initiatives for being a strategy to avoid regulation and trade unions. URI: http://hdl.handle.net/10398/7119 Files in this item: 1
wp cbscsr 2007-1.pdf (147.9Kb) -
Insights from Austrian Capital and Entrepreneurship TheoryFoss, Nicolai J.; Ishikawa, Ibuki (Frederiksberg, 2006)[More information][Less information]
Abstract: Over the last two decades the resource-based view (“RBV”) has become dominant in the strategic management field. It has often been observed that the RBV is lacking in the dynamic dimension. For example, processes of building competitive advantages by means of combining existing complementary resources in novel ways are not inquired into. We argue that the RBV may profitably draw on insights in entrepreneurship and capital theory, drawn from Austrian economists as well as Frank Knight, in order to strengthen its dynamic dimension. We link the RBV and Austrian ideas in the context of the theory of complex systems pioneered by Herbert Simon. We draw a number of implications for strategic management from this synthesis, notably into resource value and sustainability of competitive advantage. URI: http://hdl.handle.net/10398/7877 Files in this item: 1
DRUID_06_16.pdf (174.5Kb) -
Motta, Massimo; Rønde, Thomas (København, 2002)[More information][Less information]
Abstract: We show that when the researcher’s (observable but not contractible) contribution to innovation is crucial, a covenant not to compete (CNC) reduces effort and profits under both spot and relational contracts. Having no CNC allows the researcher to leave for a rival. This alleviates a commitment problem by forcing the firm to reward a successful researcher. However, if the firm’s R&D investment mainly matters, including a CNC in the contract is optimal, as it ensures the firm’s incentives to invest. JEL Codes: J3, K2, L14, O31, O34. Keywords: Innovation, intellectual property rights, labor contracts, poaching, relational contracts, start-ups. URI: http://hdl.handle.net/10398/6800 Files in this item: 1
wplefic122002.pdf (481.6Kb) -
Examples From The Fruit and Vegetable MarketFoss, Kirsten (Frederiksberg, 1996)[More information][Less information]
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Abstract: This article studies the involuntary transfer of property rights by theft - a topic almost unexplored in the law and economics literature. The question is whether a buyer of a stolen good should obtain title to the good if he/she has purchased it in good faith. As described in the article different jurisdictions treat this issue differently. The traditional theory suggests that there is a tradeoff between the costs of protecting the good and the costs of verifying the ownership. However, as shown, the rule of law concerning this issue significantly affects parties’ incentives. Specifically, it is shown that a rule of law where good faith is irrelevant in determining the issue of property rights Pareto dominates a rule where good faith may protect an innocent buyer. Thus, an owner of an asset will spend more resources on protecting his property and potential buyers will incur higher costs in order to verify the ownership when good faith is decisive for the transfer of property rights. JEL Classification: K11, K14 and K42 Keywords: property right law, theft, good faith and game theory URI: http://hdl.handle.net/10398/6802 Files in this item: 1
wplefic092005.pdf (324.7Kb) -
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Abstract: This paper gives an overview over how far transition has proceeded and what is still lacking in the process. The barriers for transition are identified. This includes an analysis of the different factors behind the steep fall in production in the first years of transition. It is shown that countries implementing a tough stabilization and a comprehensive and consequent liberalization have been most successful in the process. A fast and comprehensive privatization, on the other hand, has not been sufficient for the necessary restructuring of enterprises. Decisive for success in transition has been transformation of the state as a crucial part of the development of new market institutions implementing well functioning, clear and stable rules of the game for private enterprises. The institutional development has been important for the attractiveness of foreign investments and these FDI have been important for restructuring enterprises as part of a positive circle for the transition process. URI: http://hdl.handle.net/10398/7067 Files in this item: 1
wp63 2007.pdf (301.1Kb) -
Mygind, Niels (København, 2007)[More information][Less information]
Abstract: In countries like Italy, France, Spain and US enterprises where a broad group of the employees have controlling ownership have been quite widespread, while the Scandinavian countries have had few employee owned enterprises. In many countries in Eastern Europe the recent privatization process resulted in a strong wave of employee ownership, however, a wave that soon lost its momentum. The transition from plan to market has been a sort of experiment for analyzing the impact of institutional development. The spread of employee ownership is closely related to the change in both formal and informal institutions. The purpose of this article is to answer the following research questions: Why did employee ownership get so widespread in some countries Eastern Europe? Why did this ownership change relatively fast to other types of ownership? Was the development of employee ownership premature in relation to the development of the East European societies? URI: http://hdl.handle.net/10398/7086 Files in this item: 1
wp68 2007.pdf (211.4Kb) -
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Abstract: The concept and phenomenon of trust and its relation to leadership has recently come into focus. What role does trust play? Can trust be created strategically? Questions like these are often raised. How we conceive of and conceptualize trust is not as often discussed. Among those conceptualizations of trust available are those understanding trust as normatively value laden and those attempting to understand trust as normatively neutral. In this article I will attempt to challenge the idea that trust as a concept and phenomenon meaningfully can be understood as symmetrical and normatively neutral. One need not continue the phrase "trust is good," with "control is better," as e.g., Stalin did. Let us stop with "trust is good," and look at the implications of this evaluation. It is my conviction that trust is normally something which is normatively desirable, and that trust is a concept which cannot be exempted from a discussion of value judgment. This is perhaps because trust as a phenomenon is good in itself, even before it becomes good for something else. This point of view has consequences for understanding trust as connected to a systematic form of observation which is more or less directly claimed to be normatively neutral.i Such a view on analyzing trust presupposes that trust and mistrust are symmetrical and not so different. Such a point of view makes it possible for the terminology to maintain its normative neutrality (Luhmann 1979). Understanding trust by defining it as a conception characterized by normative neutrality is in thesystem theoretical universe interconnected with the fundamental premise that functionality and functional self-stabilization are more important than validity.The assumption of neutrality is also interconnected with the idea that functionality is normatively neutral and is not in itself attributed value judgments. Mistrust becomes, in principle, as equally good a form of observation as trust – or more explicitly stated, the question of good becomes irrelevant in the systems theoretical universe – all that is relevant is that both observations claim to be able to reduce complexity. It is this viewpoint on value related neutrality and concept related symmetry I wish to subject to a critical evaluation. At the same time I am interested in showing that one can in fact say something about trust and trust production by exposing some of the conditions which lay at the foundation for declaring trust or mistrust. My argument against the understanding of trust as value neutral is divided into five sections wherein I address different aspects of trust as a concept and phenomenon. In the first section, I address the trust concept’s connection with other related concepts, and show the inherent attribution of value within the concept. In the following section, I show the complexity which arises in and with that trust both can be a precondition for and a product of social processes. The creation of trust can be both the intentionally intended and functionally unintended; for example, trust can be something that is desirable, but can arise without anyone having planned it. In the third section, I argue that there is a difference between having trust in a phenomenon and having trust in one’s knowledge of the same phenomenon. The fourth section addresses the question in relation to the trust phenomena’s strategic flexibility of form for example, the idea that one with leadership tools can consciously bring forth trust. In the conclusion, the question about trust communication is addressed. In this section I argue that trust is positively value-laden, becausesincerity is a functional and pragmatic condition for successful communication which is oriented towards understanding. URI: http://hdl.handle.net/10398/7671 Files in this item: 1
wp 06 - trust and leadership.pdf (108.1Kb) -
Bordum, Anders (København, 2004)[More information][Less information]
Abstract: In this articlei I will argue that trust is a fundamental and critical concept because trust is the direct or transcendental constitutive ground of most social phenomena, as well as applicable as an operational method in critical theory. There are two different but overlapping positions on trust I address in this article. One is the standpoint we find in business strategy, that trust is naïve to show, and control or contracts are presumed better. In the strategy game the idealistic good guys seems to lose (Arrow 1974), (Williamson 1975). The other position is the position taken by systems theory where trust is treated as if it was a value-neutral system-internal decision, which presupposes that trust and mistrust are symmetrically interrelated functionally (Luhmann 1979). In his early book Trust and Power, Niklas Luhmann seems to agree with the vision guiding my general argument that there is a need for clear directions and specifications in organisations and systems as to whether trust or distrust is appropriate and rational (Luhmann 1979:93). Yet I challenge these positions described above with an alternative understanding inspired by Jürgen Habermas which can be applied as an operational strategy for analyzing trust in its’ empirical and social distribution, without ignoring the questions of validity in real social settings where trust is actively playing a direct or indirect constitutional role in the foundation of most interactions, organisations, institutions, and societies. URI: http://hdl.handle.net/10398/7675 Files in this item: 1
wp2004-004.pdf (106.5Kb) -
S.W.O.T. analyseLyck, Lise (Frederiksberg, 2012)[More information][Less information]
Abstract: Nærværende skal ses i sammenhæng med artiklen ”Kommunal turismepolitik som kommunal erhvervspolitik – hvorfor og hvordan?” Hørsholm er en by med knap 46.000 indbyggere i region hovedstaden, den omfatter Hørsholm kommune med knap 24.000 indbyggere, Fredensborg med knap 10.000 indbyggere og Rudersdal kommune med godt 10.000 indbyggere. Disse forhold indebærer i sig selv gode begrundelser for samarbejde med andre kommuner. Med hensyn til tilgængelighed gælder, at der ikke er jernbanestation centralt i byen, men mod øst ligger Rungsted Kyst st. og i nordøst Kokkedal st. med togforbindelser fra begge til Helsingør og København. Herudover er der tilgængelighed via busforbindelser, specielt skal nævnes S-busserne. Kommunens areal er beskeden, godt 31 kvadratkilometer. URI: http://hdl.handle.net/10398/8475 Files in this item: 1
Lyck_SWOT_2012.pdf (220.9Kb)