Browsing by Subject "PREM2018_09"

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  • Lahti, Tom; Wincent, Joakim; Parida, Vinit (2018-08-07)
    This paper contains a theory review of value creation and the implementation of next-generation sustainable business models to profit in the circular economy. While previous research has pointed to the influence of society and regulatory policy on companies’ ability to address larger sustainability concerns and to change their ways of working, the field suffers from little theoretical guidance outlining how undertake circular business mode transformation in practice. By reviewing the field’s main theories, we illustrate significant implications for how future research can study profitability and competitiveness in the circular economy. This paper introduces the central components of circular business models and discusses links to contingency theory, transaction cost theory, resource-based theory, theory on networks and industrial economics, and agency theory. Understanding the circular economy and the ways companies can compete in the circular economy based on these theories is important for establishing important new research directions for scholars of sustainable business and circular business models.
  • Boly, Amadou; Gillanders, Robert (2018-06-19)
    We analyse policymakers’ incentives to fight corruption under different institutional qualities. We find that ‘public officials’, even when non-corrupt, significantly distort anti-corruption institutions by choosing a lower detection probability when this probability applies to their own actions (legal equality), compared to a setting where it does not (legal inequality). More surprising perhaps is the finding that policy-makers do not choose a zero level of detection on average, even when it applies to them too. Finally, corruption is significantly lower when the detection probability is exogenously set, suggesting that the institutional power to choose detection can itself be corruptive.
  • Shy, Oz; Stenbacka, Rune (2018-07-28)
    We analyze competition for experienced workers among wage‐setting firms. The firms can design poaching offers with higher wages to workers who switch from rivals relative to wages paid to their own existing employees. We evaluate the profit and welfare effects of anti‐poaching agreements that eliminate poaching offers as a recruiting method. Anti‐poaching agreements increase industry profits, whereas workers are made worse off. We show that the effects of anti‐poaching agreements on total welfare are determined by the magnitude of workers' switching costs and the productivity change associated with switching employers.
  • Höglund, Henrik; Sundvik, Dennis (2019-04-16)
    This study investigates the association between private company auditing and intertemporal income shifting. Using a large reduction in the Finnish corporate tax rate as a strong incentive for income shifting and financial statement data coupled with proprietary information from the tax authorities, we analyse accruals and cost stickiness of small private companies. Our results reveal significant differences in accrual income shifting between audited and unaudited companies, but only among companies that on average could anticipate the tax reduction the most. Further, we find auditors to restrict sticky selling, general, and administrative cost behaviour that we hypothesise is associated with illegal actions. Additional tests expose a nontrivial number of incorrectly unaudited companies which are the ones mostly associated with income shifting. Taken together, our study highlights the effects of audit exemption and the importance of enforcement while also suggesting that the audit process is value adding for the tax authorities.
  • Blomkvist, Magnus; Felixson, Karl; Korkeamäki, Timo (2018-07-15)
    We examine the effects of cultural differences on the outcome of takeover contests. Our main focus is on individuality, which we posit to have an effect on firm behavior in international takeover contests. In a sample of international acquisitions with bidders from multiple countries, we find that individuality positively relates to the probability of placing the winning bid. We further find that takeover contest winners with high individuality scores experience lower announcement returns. Our results are consistent with the literature that links individuality to overconfidence. Our evidence suggests that firms should control culture‐related behavioral biases in their mergers and acquisitions activity.
  • Järvi, Kati; Almpanopoulou, Argyro; Ritala, Paavo (2018-05-06)
    This paper provides a unique perspective on knowledge ecosystems by studying their organization. Grounded in empirical evidence, we propose that knowledge ecosystems consist of users and producers of knowledge that are organized around a joint knowledge search. A distinction is drawn between knowledge ecosystems searching for a knowledge domain and those searching within an identified knowledge domain, respectively characterized as prefigurative and partial forms of organizing. In a knowledge ecosystem organized in prefigurative form (to identify a knowledge domain), actors whose participation is affiliated, self-resourced, and unobliged probe that domain to identify and establish shared knowledge as a basis for collective actorhood, with no formal rules or coordination mechanisms. In a knowledge ecosystem organized in partial form (where a knowledge domain has already been identified), actors search and reveal problem- and solution-related knowledge, participating though formal membership and access to resources, and their contributions are monitored. The present study contributes to the literature by 1) specifying the distinct types of joint search performed by knowledge ecosystems; 2) considering how the nature of joint search affects how knowledge ecosystems are organized; and 3) distinguishing two forms of organizing knowledge ecosystems, with a focus on participation and coordination.
  • Suominen, Jaakko; Silvast, Antti; Harviainen, Tuomas (2018-06-16)
    This article analyses users' olfactory recollections of computers, based on large-scale, online inquiry material collected between 2002 and 2003 and in 2013. It discusses how olfactory experiences and recollections can be classified based on narration and the causes of odors. Furthermore, it explores the changes of olfactory recollections over the course of ten years, and deals with age and gender in these recollections and in their representations. This project develops new paths and possibilities for studying the cultural history of technology and the collection of research material, as well as the exhibition of the history of computing by examining the historical, cultural, political, and economic dimensions of sensations and senses.
  • Miettinen, Topi; Stenbacka, Rune (2018-08-04)
    We study a duopoly model of history-based price competition with switching costs and demonstrate how strategic history-based pricing induces the owners of the firms to implement managerial short-termism by delegating the pricing decisions to managers with a discount factor lower than that of the owners. Managerial short-termism is a strategic device whereby owners can soften price competition at the stage when customer relationships are established. The degree of short short-termism is shown to depend on the market structure, the intensity of competition and the magnitude of switching costs.
  • Burström, Thommie; Wilson, Timothy L. (2018)
    Purpose The premise of this paper is that tension exists among participants and parties engaged in projects. The uniqueness of development virtually assures this. The purpose of this paper is to propose that tension is a product of the precursors of complexity, uncertainty and equivocality, and an attempt is made to characterize tension as it arises in projects – its genesis and its nature. Design/methodology/approach An in-depth case study was conducted in a manner in which the contextually sensitive empirical researches for which Nordic studies are known. Within discussions on the strategy, decision making, intra- and inter-project interdependencies and managing across development sites associated with a flagship project, 77 statements concerning tension were identified for analysis. Through a literature review, 12 tension-driving factors were identified. These factors were used as base for analysis. Findings These statements were analyzed for content to produce a model associating tension with its precursors and the literature on tension. It is found that due to innovation turbulence, tension-driving factors are cascaded in and around organization(s). Tension is manifested in various ways for different stakeholders and tension management is performed through cognitive and emotional responses. The texture of tension is characterized by fluidity, multiplicity and parallelism. Research limitations/implications Case studies can of course not be generalized; they are valuable, however, in indicating important observations for further studies. Practical implications A contribution is made to management theory where knowledge about project context is seen as essential in order to understand best practices for project execution and effectiveness. Originality/value Although common, even virtually assured in projects, tension tends to be neglected in successful management. This study associates the genesis of tension through the underlying contributions of complexity, uncertainty and equivocality. It is believed to be the first study of its type.