Browsing by Subject "PREM2017_extra"

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  • Cenamor, Javier; Parida, Vinit; Oghazi, Pejvak; Pesämaa, Ossi; Wincent, Joakim (2017-06-22)
    This study examines how subsidiaries can manage dual embeddedness with both local partners and a multinational enterprise. Specifically, we examine the role of absorptive capacity and appropriability mechanisms on subsidiary performance. We analyse how absorptive capacity and appropriability enable subsidiaries to successfully address knowledge challenges related to internal and external networks. We conducted an empirical analysis on a sample of 165 subsidiaries. Our results suggest that absorptive capacity has a direct, positive effect on subsidiary performance, which is greater in emerging countries. The study also found an indirect effect of absorptive capacity on subsidiary performance, which is mediated through appropriability mechanisms. These findings extend the literature on international networks, dual embeddedness and absorptive capacity.
  • Shy, Oz; Stenbacka, Rune (2017)
    The paper constructs an overlapping generations model to evaluate how different bank rescue plans affect banks’ risk-taking incentives. For a non-competitive banking industry, we find bailout with tax imposed on the old generation or equity bail-in to be efficient policies in the sense that they implement socially optimal risk-taking. In a competitive banking sector, no-bailout implements the socially-optimal risk-taking. Bailout policies financed by a tax imposed on the young generation always induce excessive risk-taking.
  • Saastamoinen, Jani; Ojala, Hannu; Pajunen, Kati; Troberg, Pontus (2017-12-21)
    While inputs used in analysts’ valuation models have been documented (Brown et al. 2015), it has not been studied how analysts’ personal characteristics are associated with their level of critical perception regarding agency conflict manifested in published financial statements. This is important because analysts are, to some extent, substitutes for industry‐specialised auditors in monitoring financial reporting (e.g., Sun and Liu 2011). To address this shortcoming, we investigate analysts’ level of critical perception concerning current goodwill accounting standards, which provide significant reporting latitude. We use data from a survey of Nordic financial analysts and examine this data with statistical methods, including factor analysis and structural equation modelling. We find two latent constructs, one which reflects a critical attitude to the current goodwill accounting standards and one which reflects an uncritical attitude to the current standards. Our structural equation model suggests that having a background in auditing, as well as general experience and exposure to different industries, is associated with a higher degree of critical perception of current standards. In contrast, having a basic (low) level of formal business (accounting) education is associated with a more uncritical perception than having a high level of education.
  • Fellman, Johan (2017-12-20)
    In the 19th century, a series of international statistical congresses began that were important for population studies, including twin research. The introduction of common rules for the national demographic registers enabled scientists to contribute to the genesis of statistical research. The congress in St. Petersburg in 1872, in particular, focused on the movements of the population, and how they should be registered. Among the facts to be recorded were in multiple births the sex and number of children born alive or still-born, whether legitimate or illegitimate, and the age of the mother at the date of the births. During the history of twin research Hellin´s law (1895) has played a central role because it is an approximately correct association between the rates of multiple maternities. It has been mathematically proven that Hellin´s law does not hold as a general rule. Analyses show divergences from the law that are difficult to explain and/or eliminate. Varying improvements of this law have been proposed. The majority of all studies of Hellin´s law are based on empirical rates of multiple maternities, ignoring random errors. Such studies can never confirm the law, but only identify errors with respect to Hellin´s law that are too large to be characterised as random. It is of particular interest to note and explain why the rates of higher multiple maternities are sometimes too high or too low when Hellin´s law is used as a benchmark. Studies have shown that there have been investigators before Hellin who have contributed substantially to Hellin´s law. In this paper, we re-examine some old data sets and contributions in which Hellin´s law has been evaluated and also analyse recent data.
  • Neuman, Yrsa; Laakso, Mikael (2017-12-01)
    Introduction. Open access, the notion that research output, such as journal articles, should be freely accessible to readers on the Web, is arguably in the best interest of science. In this article, we (1) describe in-depth how a society-owned philosophy journal, Nordic Wittgenstein Review, evaluated various publishing models and made an informed decision on how best to adopt open access publishing for the journal, and (2) develop and implement measures to evaluate the chosen model. Method. This case study uses reports from editorial board members (mainly the editor-in-chief), Web access metrics as well as a Web survey to the journal community as well as the wider philosophy research community. Analysis. After two years as a delayed open access journal with commercial publishers, the journal made a decision to become an independent scholar-run journal without fees to readers or authors, and which would rely mainly on volunteer effort with university faculty support. This decision was made after evaluating various publishing scenarios and negotiating with potential publishers. This study breaks down what is involved in terms of input and effort compared to having handed over the publishing of the journal to an external publisher. Conclusions. For an open access journal choosing between publishing models, elements of ideology and feasibility need to be balanced. This article provides an overview of relevant elements and some means to judge feasibility in journal publishing endeavours.
  • Ehrnström-Fuentes, Maria; Kröger, Markus (2017-12-27)
    This study examines the role of states in developing contemporary extractivism based on recent investments and project plans in industrial forestry in Uruguay. This sheds light on several unanswered questions related to the role of the state and civil society in the governance, politics, and political economy of extractivism. The role played by states in contemporary extractive investments is a topic that requires studies that do more than simply analyse whether that role is strong or weak. Instead the focus should be on how states promote such investments, and on the political and socio-economic consequences thereof. Our analysis shows that the multiple roles of states need to be better understood when explaining the role of states in endorsing and expanding extractivism and its effect on the broader societal governance of business conduct. Our analysis indicates severe and negative developmental and socio-economic outcomes of pulp investments in Uruguay, which are hard if not impossible to transform as corporations can now use the investment protection laws – created by the government to regulate the state conduct – to restrict the possibilities of civil society and state actions.
  • Sirén, Charlotta; Hakala, Henri; Wincent, Joakim; Grichnik, Dietmar (2017)
  • Primmer, Eeva; Termansen, Mette; Bredin, Yennie; Blicharska, Malgorzata; García Llorente, Marina; Berry, Pam; Jääskeläinen, Tiina; Bela, Györgyi; Fabok, Veronika; Geamana, Nicoleta; Harrison, Paula A.; Haslett, John R.; Cosor, Georgia Lavinia; Andersen, Anne H. K. (2017-07)
    Individual decision‐makers at different governance levels operate in social contexts, which means that they sometimes need to compromise their personal values. Yet, this dissonance is rarely the direct target of empirical analyses of environmental decision‐making. We undertake a Q‐analysis of decision‐makers' personal perspectives and the perspectives they perceive to dominate in their decision‐making contexts. Our empirical analysis addresses biodiversity conservation, which has traditionally been justified with intrinsic value‐ and science‐based arguments. The arguments have recently been broadened with the concept of ecosystem services, highlighting human benefits and values. This evolving context is interesting because of the new rise of anthropocentric values, which can lead to decision‐makers experiencing dissonance. Our analysis of interviews with 43 biodiversity conservation decision‐makers from nine European countries reveals four personally held perspectives that highlight different, yet partly overlapping, values – intrinsic, human benefit, conservation and connection – as well as three perspectives perceived to dominate in decision‐making – utilitarian, insurance and knowledge values. The comparison of personally held and perceived dominant perspectives points to one major conflict: those decision‐makers who personally associate with intrinsic values and perceive utilitarian values to dominate in decision‐making experience dissonance. By contrast, personally held human benefit values are accommodated well in decision‐making contexts and decision‐makers who perceive insurance values to dominate experience the least conflict with personally held values. These findings demonstrate the potential of arguments stressing long‐term benefits for easing tension and conflicts in conservation decision‐making, and the usefulness of empirically testing of the coincidence of individual and social values.
  • Florén, Henrik; Frishammar, Johan; Parida, Vinit; Wincent, Joakim (2017-07-05)
    The literature on the front end in the New Product Development (NPD) literature is fragmented with respect to the identification and analysis of the factors that are critical to successful product development. The article has a two-fold purpose. First, it describes, analyses, and synthesizes those factors through a literature review of the research on the front end in NPD. Second, it conceptualizes a framework that features two types of success factors: foundational success factors (common to all the firm’s projects) and project-specific success factors (appropriate for the firm’s individual projects). The article makes recommendations for the management of this important phase of product development, discusses limitations of relevant previous research, and offers suggestions for future research. The article makes a theoretical contribution with its analysis and synthesis of the reasons for success in front-end activities and a practical contribution with its conceptual framework that can be used as an analytical tool by firms and their product managers.
  • Smirnova, Maria M.; Rebiazina, Vera A.; Frösén, Johanna (2017-11-20)
    This study revisits one of the most widely used concepts in marketing - customer orientation (CO) - in the context of the Russian emerging market. Analysis of three sets of survey data, combined with insights from in-depth interviews with industry experts, suggest that customer orientation in the Russian market consists of two distinct dimensions: customer-centric strategy and customer service delivery. Both dimensions contribute to firms' ability to serve their customers, adapt to their market environment, and optimize growth and profitability. However, the relative impact of the two dimensions of CO does differ across diverse types of performance outcomes, suggesting that both are critical in a firm's quest to improve its overall business performance.
  • Lenka, Sambit; Parida, Vinit; Rönnberg Sjödin, David; Wincent, Joakim (2017-11-21)
    Servitization research has principally focused on the transition of organizational-level strategy, systems, capabilities, and processes for firms to be able to offer advanced services to their customers. Less is known of the underlying microfoundational dynamics of such transitions at the individual-level. Based on a multiple case study of six large multinational industrial firms engaged in servitization efforts, this paper identifies the tactics (i.e., evangelizing, bootlegging, leveraging, and collaborating) that individuals adopt to overcome organizational resistance to servitization. This study also presents the conditions that are necessary for individual employees to adopt these tactics. The present study provides theoretical and practical implications of the microfoundations of servitization, focusing attention on individual-level actions that affect the outcomes at the organizational-level to drive servitization efforts.
  • Andres, Pablo de; Arranz-Aperte, Laura; Rodriguez-Sanz, Juan Antonio (2017)
    Our study reveals how two separate dimensions of board composition-the proportion of independent directors and of non-independent directors-influence CEO compensation in Western European firms. Controlling for the simultaneous determination of CEO pay structure and board design, we find that firms with a higher proportion of non-independent outsiders on their boards pay less direct compensation (salary + bonus) and less equity-linked compensation to their CEOs. By contrast, CEOs working for firms with more independent boards receive more equity based-pay. When we control for the fact that equity linked is not granted systematically in Europe we find that firms with more independent directors on the board tend to grant equity linked compensation more often than firms with more non independent outside directors. Our results challenge the commonly accepted view of independent directors as safeguards of shareholder value, uncovering the relevance of non-independent outsiders for pay moderation and incentives.
  • Nordin, Fredrik; Ravald, Annika; Möller, Kristian; Mohr, Jakki J. (2017-10-16)
    Due to their inherent uncertainty, emerging high-tech business fields require a unique set of network management capabilities. Drawing from the dynamic capabilities literature and the networking capability literature, we develop a framework for network management in such environments. The framework consists of three interrelated capabilities – context handling, network construction, and network position consolidation. A longitudinal case study of a start-up company in the smart energy sector validates and provides an illustrative understanding of the three capabilities. The findings identify how they are enacted through a portfolio of activities, providing a microfoundational insight into how a focal actor in an entrepreneurial and explorative manner navigates and manages a business field in the making. Our research contributes a novel conceptualization of network management capabilities with an explicit focus on attracting, establishing and managing relationships in the complex and uncertain environment of emerging high-tech fields. In addition, our research offers guidance to managers with respect to the capabilities they need to galvanize and coalesce actors in an emerging business network.
  • Forrester, Amy; Björk, Bo-Christer; Tenopir, Carol (2017-08-03)
    The motivations for an author to choose a journal to submit to are complex and include factors relating to impact and prestige, service quality, and publication costs and policies. Authors require information about multiple characteristics of journals that may be difficult to obtain. This article compares and contrasts the new author-oriented journal comparison tools and services that have emerged to assist researchers in this important step of the scholarly publishing process. Many of these tools combine factors to provide full web-based manuscript submission decision tools, however all have limitations that reduce their usefulness.
  • Jongsma, Daniël Joseph Wietse (2017)
    Many EU member states have a well-established approach with regard to the use of copyright protected works for the purpose of parody. As a consequence of the CJEU’s Deckmyn decision, in which the Court held that parody is an autonomous concept of EU law and defined that concept, their approach may need to change. This article looks at the criteria developed by various national courts to determine the lawfulness of parodies prior to Deckmyn and at the role these criteria can play after Deckmyn. It will be argued that even though the adaptation right is not explicitly harmonized by the InfoSoc Directive, a parody will in principle constitute a reproduction within the meaning of that directive. In addition, it is submitted that member states are not free to restrict the scope of the harmonized parody exception by imposing requirements not found in the InfoSoc Directive. Consequently, there is very little margin of discretion left for member states with regard to the legal treatment of parodies. Nevertheless, most of the ‘old’ criteria can still play a role when determining the fair balance of rights and interests that, according to the CJEU, needs to be maintained when applying the exception. When taking account of the essential characteristics of a parody, as defined by the CJEU, and the fair balance in an overall assessment, the parody exception can act as a flexible exception allowing a wide array of humorous and critical uses of copyright protected works.
  • Colak, Gonul; Durnev, Artem; Qian, Yiming (2017-12-04)
    We analyze IPO activity under political uncertainty surrounding gubernatorial elections in the U.S. There are fewer IPOs originating from a state when it is scheduled to have an election. To establish identification, we develop a neighboring-states method that uses bordering states without elections as a control group. The dampening effect of elections on IPO activity is stronger for firms with more concentrated businesses in their home states, firms that are more dependent on government contracts (particularly state contracts), and harder-to-value firms. This dampening effect is related to lower IPO offer prices (hence higher costs of capital) during election years.
  • Ekman, Mats Johan (2017-11-13)
    In this empirical analysis of voting patterns in five countries on days when one or more national referenda were held, voter turnout appears to decline in the number of concurrent referenda, in contrast to standard theories’ predictions and regardless of method used to hold constant the quality of the referenda. Multiple concurrent referenda imply “quantity discounts” as one may vote on more ballots in one visit to the polling station. They should also draw more voters due to the wider range of interests attracted when more issues are up for vote. Yet, none of this seems to happen in the data. More recent developments, such as rule-utilitarian and information-based theories of voting, fare similarly poorly in light of the evidence presented in this article; a social theory of voting does better.