Showing papers by "Copenhagen Business School published in 2009"
TL;DR: In this article, the authors present theoretical and definitional issues associated with the concept and propose a conceptual account of institutional entrepreneurship that helps to accommodate them, and highlight future directions for research on institutional entrepreneurship, and conclude with a discussion of its role in strengthening institutional theory as well as in the field of organization studies.
Abstract: As well as review the literature on the notion of institutional entrepreneurship introduced by Paul DiMaggio in 1988, we propose a model of the process of institutional entrepreneurship We first present theoretical and definitional issues associated with the concept and propose a conceptual account of institutional entrepreneurship that helps to accommodate them We then present the different phases of the process of institutional entrepreneurship from the emergence of institutional entrepreneurs to their implementation of change Finally, we highlight future directions for research on institutional entrepreneurship, and conclude with a discussion of its role in strengthening institutional theory as well as, more broadly, the field of organization studies
1,827 citations
Posted Content•
TL;DR: It is suggested that, at least under certain conditions, crowdsourcing might constitute a promising method to gather user ideas which can complement those of a firm’s professionals at the idea generation stage in NPD.
Abstract: Generating ideas for new products used to be the exclusive domain of marketers, engineers, and/or designers. Users have only recently been recognized as an alternative source of new product ideas. Whereas some have attributed great potential to outsourcing idea generation to the “crowd” of users (“crowdsourcing”), others have clearly been more skeptical. The authors join this debate by presenting a real-world comparison of ideas actually generated by a firm’s professionals with those generated by users in the course of an idea generation contest. Both professionals and users provided ideas to solve an effective and relevant problem in the consumer goods market for baby products. Executives from the underlying company evaluated all ideas (blind to their source) in terms of key quality dimensions, including novelty, customer benefit, and feasibility. The study reveals that the crowdsourcing process generated user ideas that score significantly higher in terms of novelty and customer benefit, and somewhat lower in terms of feasibility. However, the average values for feasibility – in sharp contrast to novelty and customer benefit – tended to be relatively high overall, meaning that feasibility did not constitute a narrow bottleneck in this study. Even more interestingly, it is found that user ideas are placed more frequently than expected among the very best in terms of novelty and customer benefit. These findings, which are quite counterintuitive from the perspective of classic new product development (NPD) literature, suggest that, at least under certain conditions, crowdsourcing might constitute a promising method to gather user ideas which can complement those of a firm’s professionals at the idea generation stage in NPD.
1,046 citations
TL;DR: The authors applied competitive dynamics theory to analyze these contextual moderators of spillovers, and test hypotheses derived in a meta-analysis of the empirical literature on spillovers and found that spillovers vary across countries at different levels of economic development.
Abstract: Local firms may attract productivity spillovers from foreign investors, yet these vary with local firms' awareness, capability and motivation to react to foreign entry. In consequence, spillovers vary across countries at different levels of economic development. We apply competitive dynamics theory to analyze these contextual moderators of spillovers, and test hypotheses thus derived in a meta-analysis of the empirical literature on spillovers. Our analysis suggests a curvilinear relationship between spillovers and the host country's level of development in terms of income, institutional framework and human capital.
653 citations
TL;DR: In this article, the authors present a conceptual framework for analysing CSR practices in global supply chains and demonstrate how a pioneering Swedish company, IKEA, implements and manages CSR practice at its suppliers.
Abstract: Purpose – The paper aims to present a conceptual framework for analysing CSR practices in global supply chains. It also seeks to demonstrate how a pioneering Swedish company, IKEA, implements and manages CSR practices at its suppliers.Design/methodology/approach – A case analysis of IKEA illustrates the implementation and management of CSR practices in supply chains. The focus is on internal and external integration of CSR practices in the supply chain. IKEA holds a leading position in its supply chain and is a global brand‐owner. Personal interviews are performed with employees from one of the company's trading areas.Findings – Practising CSR in supply chains requires that CSR is embedded within the entire organisation, including subsidiaries abroad and offshore suppliers. It includes employee training and sharing of experience, training of key personnel at the supplier level, positive incentives for suppliers in the form of long‐term contracts and enlarged purchasing orders, and regular auditing of supp...
633 citations
21 Jul 2009
TL;DR: The first large-scale and practical application of secure multiparty computation, which took place in January 2008, is reported on and the novel cryptographic protocols used are reported on.
Abstract: In this note, we report on the first large-scale and practical application of secure multiparty computation, which took place in January 2008. We also report on the novel cryptographic protocols that were used.
604 citations
TL;DR: In this article, the authors present an integrative model that identifies the multi-level antecedents, process dimensions, and outcomes of absorptive capacity as well as the contextual factors that affect absorptive capacities.
Abstract: The purpose of this Perspective Paper is to advance understanding of absorptive capacity, its underlying dimensions, its multi-level antecedents, its impact on firm performance and the contextual factors that affect absorptive capacity. Nineteen years after the Cohen and Levinthal 1990 paper, the field is characterized by a wide array of theoretical perspectives and a wealth of empirical evidence. In this paper, we first review these underlying theories and empirical studies of absorptive capacity. Given the size and diversity of the absorptive capacity literature, we subsequently map the existing terrain of research through a bibliometric analysis. The resulting bibliometric cartography shows the major discrepancies in the organization field, namely that (1) most attention so far has been focused on the tangible outcomes of absorptive capacity; (2) organizational design and individual level antecedents have been relatively neglected in the absorptive capacity literature; and (3) the emergence of absorptive ccapacity from the actions and interactions of individual, organizational and inter-organizational antecedents remains unclear. Building on the bibliometric analysis, we develop an integrative model that identifies the multi-level antecedents, process dimensions, and outcomes of absorptive capacity as well as the contextual factors that affect absorptive capacity. We argue that realizing the potential of the absorptive capacity concept requires more research that shows how “micro antecedents” and “macroantecedents” influence future outcomes such as competitive advantage, innovation, and firm performance. In particular, we identify conceptual gaps that may guide future research to fully exploit the absorptive capacity concept in the organization field and to explore future fruitful extensions of the concept.
594 citations
TL;DR: In this article, the authors propose the concept of the coefficient of discrimination (COC) as a measure of explanatory power for logistic regression models, which is an extension of R2.
Abstract: Many analogues to the coefficient of determination R2 in ordinary regression models have been proposed in the context of logistic regression. Our starting point is a study of three definitions related to quadratic measures of variation. We discuss the properties of these statistics, and show that the family can be extended in a natural way by a fourth statistic with an even simpler interpretation, namely the difference between the averages of fitted values for successes and failures, respectively. We propose the name “the coefficient of discrimination” for this statistic, and recommend its use as a standard measure of explanatory power. In its intuitive interpretation, this quantity has no immediate relation to the classical versions of R2, but it turns out to be related to these by two exact relations, which imply that all these statistics are asymptotically equivalent.
591 citations
01 Apr 2009
TL;DR: The authors argue that critical management studies (CMS) should be conceptualized as a profoundly performative project, and suggest a range of tactics including affirming ambiguity, working with mysteries, applied communicative action, exploring heterotopias and engaging micro-emancipations.
Abstract: We argue that critical management studies (CMS) should be conceptualized as a profoundly performative project. The central task of CMS should be to actively and pragmatically intervene in specific debates about management and encourage progressive forms of management. This involves CMS becoming affirmative, caring, pragmatic, potential focused, and normative. To do this, we suggest a range of tactics including affirming ambiguity, working with mysteries, applied communicative action, exploring heterotopias and engaging micro-emancipations.
576 citations
TL;DR: In this paper, the implications of the movement towards entertainment-centred, market-driven media by comparing what is reported and what the public knows in four countries with different media systems are addressed.
Abstract: ■ This article addresses the implications of the movement towards entertainment-centred, market-driven media by comparing what is reported and what the public knows in four countries with different media systems. The different systems are public service (Denmark and Finland), a `dual' model (UK) and the market model (US). The comparison shows that public service television devotes more attention to public affairs and international news, and fosters greater knowledge in these areas, than the market model. Public service television also gives greater prominence to news, encourages higher levels of news consumption and contributes to a smaller within-nation knowledge gap between the advantaged and disadvantaged. But wider processes in society take precedence over the organization of the media in determining how much people know about public life. ■
477 citations
TL;DR: The intervention reduced fatigue and improved vitality, aerobic capacity, muscular strength, and physical and functional activity, and emotional wellbeing, but not quality of life.
Abstract: Objective To assess the effect of a multimodal group exercise intervention, as an adjunct to conventional care, on fatigue, physical capacity, general wellbeing, physical activity, and quality of life in patients with cancer who were undergoing adjuvant chemotherapy or treatment for advanced disease. Design Randomised controlled trial. Setting Two university hospitals in Copenhagen, Denmark. Participants 269 patients with cancer; 73 men, 196 women, mean age 47 years (range 20-65) representing 21 diagnoses. Main exclusion criteria were brain or bone metastases. 235 patients completed follow-up. Intervention Supervised exercise comprising high intensity cardiovascular and resistance training, relaxation and body awareness training, massage, nine hours weekly for six weeks in addition to conventional care, compared with conventional care. Main outcome measures European Organization for Research and Treatment of Cancer Quality of Life Questionnaire (EORTC QLQ-C30), Medical Outcomes Study Short Form (MOS SF-36), Leisure Time Physical Activity Questionnaire, muscular strength (one repetition maximum), maximum oxygen consumption (Vo 2 max). Statistical methods The general linear model was used for continuous outcome while analysis of associates between categorical outcomes was performed as analysis of marginal homogeneity in contingency tables. Results Adjusted for baseline score, disease, and demographic covariates, the intervention group showed an estimated improvement at six weeks for the primary outcome, fatigue, of −6.6 points (95% confidence interval −12.3 to −0.9, P=0.02; effect size=0.33, 0.04 to 0.61). Significant effects were seen on vitality (effect size 0.55, 95% CI 0.27 to 0.82), physical functioning (0.37, 0.09 to 0.65), role physical (0.37, 0.10 to 0.64), role emotional (0.32, 0.05 to 0.59), and mental health (0.28, 0.02 to 0.56) scores. Improvement was noted in physical capacity: estimated mean difference between groups for maximum oxygen consumption was 0.16 l/min (95% CI 0.1 to 0.2, P Conclusion A supervised multimodal exercise intervention including high and low intensity components was feasible and could safely be used in patients with various cancers who were receiving adjuvant chemotherapy or treatment for advanced disease. The intervention reduced fatigue and improved vitality, aerobic capacity, muscular strength, and physical and functional activity, and emotional wellbeing, but not quality of life. Trial registration Current Controlled trials ISRCTN05322922.
437 citations
TL;DR: The empirical results indicate that the model improves on the benchmark Heston model by 24% in-sample and 23% out-of-sample, and better fit results from improvements in the modeling of the term structure dimension as well as the moneyness dimension.
Abstract: State-of-the-art stochastic volatility models generate a "volatility smirk" that explains why out-of-the-money index puts have high prices relative to the Black-Scholes benchmark. These models also adequately explain how the volatility smirk moves up and down in response to changes in risk. However, the data indicate that the slope and the level of the smirk fluctuate largely independently. While single-factor stochastic volatility models can capture the slope of the smile, they cannot explain such largely independent fluctuations in its level and slope over time. We propose to model these movements using a two-factor stochastic volatility model. Because the factors have distinct correlations with market returns, and because the weights of the factors vary over time, the model generates stochastic correlation between volatility and stock returns. Besides providing more flexible modeling of the time variation in the smirk, the model also provides more flexible modeling of the volatility term structure. Our empirical results indicate that the model improves on the benchmark Heston model by 24% in-sample and 23% out-of-sample. The better fit results from improvements in the modeling of the term structure dimension as well as the moneyness dimension.
TL;DR: In this paper, the authors argue that job design matters to knowledge sharing for motivational reasons, and they develop six hypotheses that unfold these ideas and test them on the basis of individual-level data collected within a single firm.
Abstract: Job design is one of the most frequently researched practices in the Human Resource Management (HRM) literature, and knowledge sharing has become an important and heavily researched managerial practice The links between these practices, however, have received little attention in the literature We argue that job design matters to knowledge sharing for motivational reasons Specifically, jobs contain characteristics that stimulate different kinds of motivation toward knowledge sharing, which have different effects on individual knowledge sharing behavior We develop six hypotheses that unfold these ideas and test them on the basis of individual-level data collected within a single firm The hypotheses are tested in a LISREL model that confirms that job characteristics, such as autonomy, task identity, and feedback, determine different motivations to share knowledge, which in turn predict employees' knowledge sharing behaviors © 2009 Wiley Periodicals, Inc
TL;DR: The authors conducted an in-depth analysis of conceptual and methodological issues related to upper echelons diversity studies and offered some directions for future research, concluding that the complexity of diversity as a theoretical construct needs to be acknowledged and operationalized accordingly in upper echelon studies.
Abstract: This paper reviews empirical research on top management team (TMT) diversity. A number of scholars have concluded that upper echelons findings, in particular in terms of the consequences of TMT heterogeneity, have been inconclusive. This review conducts an in-depth analysis of conceptual and methodological issues related to upper echelons diversity studies and offers some directions for future research. Sixty journal articles, published in ten top international journals over a 22-year period (1984–2005), were analyzed. The results suggest that upper echelons research is increasingly multidisciplinary in nature; however, in-depth inquiries into the antecedents of TMT composition and the multilevel contextual influences on the implications of TMT heterogeneity are still needed. This review finds that clarity about level of analysis, both theoretically and empirically, remains an important issue in the field and thus a multilevel approach is strongly encouraged. Moreover, the complexity of diversity as a theoretical construct needs to be acknowledged and operationalized accordingly in upper echelons studies.
TL;DR: The article develops a service modularity function (SMF), a mathematical model indicating the degree of modularity deriving from unique services and the degree to which the modules can be replicated across a variety of services.
Abstract: An understanding of the nature of service architecture and modularity is crucial to service design and innovation. Two sets of approaches are developed that further our understanding and support decision making. First is a systematic decomposition approach to architecture modeling that allows organizations to understand their current architecture, evaluate alternative architectures, and identify key interfaces between different parts of the service. Second, the article develops a service modularity function (SMF), a mathematical model indicating the degree of modularity deriving from unique services and the degree to which the modules can be replicated across a variety of services. Three areas are identified that can contribute to competitiveness: the possession of unique service modules or elements not easily copied in the short term by competitors; the ability to exploit these through replication across multiple services and/or multiple sites; and the presence of a degree of modularity, which in turn supports both customization and rapid new product development. The SMF can support decision making in the design of services and the exploitation of service innovation. In particular, the relationship between architecture and modularity and the roles of service contact personnel in the customization of services is shown to be complementary. It is proposed that service customization can be either combinatorial (the combination of a set of service processes and products to create a unique service) or menu driven (the selection of one or more services from a set of existing services/products to meet customer needs).
TL;DR: In this paper, the authors estimate the risk of market skewness from daily S&P 500 index option data and find that the risk is between -6.00% and -8.40% annually.
Abstract: The cross-section of stock returns has substantial exposure to risk captured by higher moments in market returns. We estimate these moments from daily S&P 500 index option data. The resulting time series of factors are thus genuinely conditional and forward-looking. Stocks with high sensitivities to innovations in implied market volatility and skewness exhibit low returns on average, whereas those with high sensitivities to innovations in implied market kurtosis exhibit high returns on average. The results on market skewness risk are extremely robust to various permutations of the empirical setup. The estimated premium for bearing market skewness risk is between -6.00% and -8.40% annually. This market skewness risk premium is economically significant and cannot be explained by other common risk factors such as the market excess return or the size, book-to-market, momentum, and market volatility factors. Using ICAPM intuition, the negative price of market skewness risk indicates that it is a state variable that negatively affects the future investment opportunity set.
TL;DR: In this article, international information security management guidelines play a key role in managing and certifying organizational IS, and they should be seen as a library of material on information management for practitioners. But they do not pay enough attention to the differences between organizations and the fact that their security requirements are different.
TL;DR: In this article, the authors propose and test an integrated framework in which knowledge tacitness and trust act as mediating mechanisms in the relationship between partner characteristics and alliance outcomes, and test this proposition on a sample of 120 international strategic alliances.
Abstract: Drawing on knowledge-based, organizational learning, and social capital perspectives, we propose and test an integrated framework in which knowledge tacitness and trust act as mediating mechanisms in the relationship between partner characteristics and alliance outcomes. We distinguish between learning and innovation outcomes and suggest that while innovation may result from alliance learning, it can also be created by combining separate knowledge bases without learning from each other. We contend that tacitness and trust play differing roles in the pursuit of learning and innovation and test this proposition on a sample of 120 international strategic alliances.
TL;DR: The paper questions whether Web 2.0 technologies (social software) are a real panacea for the challenges associated with the management of knowledge and enables a new model of personal knowledge management (PKM) that includes formal and informal communication, collaboration and social networking tools.
Abstract: Purpose – The purpose of this paper is to discuss new approaches for managing personal knowledge in the Web 2.0 era. The paper questions whether Web 2.0 technologies (social software) are a real panacea for the challenges associated with the management of knowledge. Can Web 2.0 reconcile the conflicting interests of managing organisational knowledge with personal objectives? Does Web 2.0 enable a more effective way of sharing and managing knowledge at the personal level?Design/methodology/approach – Theoretically deductive with illustrative examples.Findings – Web 2.0 plays a multifaceted role for communicating, collaborating, sharing and managing knowledge. Web 2.0 enables a new model of personal knowledge management (PKM) that includes formal and informal communication, collaboration and social networking tools. This new PKM model facilitates interaction, collaboration and knowledge exchanges on the web and in organisations.Practical implications – Based on these findings, professionals and scholars wil...
TL;DR: A deeper understanding of agility is provided through an intensive study of the distributed ISD experience in TECHCOM, revealing that agility should be viewed as a multifaceted concept having three dimensions: resource, process, and linkage.
Abstract: Agility is increasingly being seen as an essential element underlying the effectiveness of globally distributed information systems development (ISD) teams today. However, for a variety of reasons, such teams are often unable develop and enact agility in dealing with changing situations. This paper seeks to provide a deeper understanding of agility through an intensive study of the distributed ISD experience in TECHCOM, an organization widely recognized for its excellence in IT development and use. The study reveals that agility should be viewed as a multifaceted concept having three dimensions: resource, process, and linkage. Resource agility is based on the distributed development team's access to necessary human and technological resources. Process agility pertains to the agility that originates in the team's systems development method guiding the project, its environmental scanning, and sense-making routines to anticipate possible crises, and its work practices enabling collaboration across time zones. Linkage agility arises from the nature of interactional relationships within the distributed team and with relevant project stakeholders, and is composed of cultural and communicative elements. The paper highlights some of the difficulties in developing agility in distributed ISD settings, provides actionable tactics, and suggests contingencies wherein different facets of agility may become more (or less) critical.
TL;DR: In this paper, the authors argue that the collective grandness of small business is often underestimated in CSR research and policy-making, and emphasize the importance of understanding the contexts and the ways in which small and medium-sized companies engage inCSR and how they differ from multinational companies.
Abstract: In this paper we argue that the collective grandness of small business is often underestimated in CSR research and policy-making. We emphasize the importance of understanding the contexts and the ways in which small- and medium-sized companies engage in CSR and how they differ from multinational companies. We suggest that it might be that researchers and practitioners are asking the wrong questions in their ambitions to prove ‘the business case for CSR’. Perhaps we should rather focus on the ‘how’ and the ‘with what impact’ questions to understand better the SME engagement in CSR.
TL;DR: In this paper, the authors present results from a study about women and employee-elected board members, and fill some of the gaps in the literature about their contribution to board effectiveness.
Abstract: We present results from a study about women and employee-elected board members, and fill some of the gaps in the literature about their contribution to board effectiveness. The empirical data are from a unique data set of Norwegian firms. Board effectiveness is evaluated in relation to board control tasks, including board corporate social responsibility (CSR) involvement. We found that the contributions of women and employee-elected board members varied depending on the board tasks studied. In the article we also explored the effects of the esteem of the women and employee-elected board members, and we used creative discussions in the boardroom as a mediating variable. Previous board research, including research about women and employee-elected directors, questions if the board members contribute to board effectiveness. The main message from this study is that it may be more important to ask how, rather than if, women and employee-elected board members contribute, and we need to open the black box of actual board behavior to explore how they may contribute.
Book•
20 Feb 2009TL;DR: In this paper, a taxonomy of brand management 1985-2015 is presented, including seven brand approaches: economic approach, identity approach, consumer-based approach, relational approach, community approach, personality approach and cultural approach.
Abstract: Part I: Setting the scene 1. Introduction 2. Overview: brand management 1985-2015 3. Taxonomy of brand management 1985-2015 Part II: Seven brand approaches 4. The economic approach 5. The identity approach 6. The consumer-based approach 7. The personality approach 8. The relational approach 9. The community approach 10. The cultural approach 11. Other categorizations of brand management 12. Keywords in brand management
TL;DR: In this paper, the authors explore how firms are attracted to one another within buyer-supplier dyads and propose a conceptual model of attraction with theoretical underpinnings in social exchange theory.
TL;DR: It is argued that the underlying, individual-level micro-components and interactional dynamics deserve more attention in extant work—calling in effect for a course-correction in work on organizational routines and capabilities.
15 Jan 2009
TL;DR: This paper proposed a multidimensional index of regional and global orientation that can be used in confirmatory studies with econometric methodologies and showed that large multinationals follow home region oriented internationalization paths, although much of the regional effect reported by previous studies in fact reflects strong home country biases.
Abstract: This paper proposes a multidimensional index of regional and global orientation that can be used in confirmatory studies with econometric methodologies. Unlike extant measures, the index is objectively scaled, and controls for home country orientation and market size differences. The index is shown to be consistent with models of internationalization that incorporate different assumptions about investment choice and global competition. Preliminary results show that large multinationals follow home region oriented internationalization paths, although much of the regional effect reported by previous studies in fact reflects strong home country biases.
TL;DR: In this article, the authors address a long-standing discrepancy between theory and practice regarding how firms choose, use, and modify their modes of operation in foreign markets, and propose richer and more realistic conceptualisations of foreign operation modes.
Abstract: We address a long-standing discrepancy between theory and practice regarding how firms choose, use, and modify their modes of operation in foreign markets. Theory typically treats foreign operation modes as choices between well-specified, discrete alternatives. Observation of business practice reveals a “messier” reality. We commonly observe mode packages, within-mode adjustments and mode role changes, yet by and large these aspects of international business development have been relatively ignored in the literature, and in theoretical and empirical research. We propose richer and more realistic conceptualisations of foreign operation modes, and look at their implications for theory and practice.
TL;DR: A new categorization of entry modes based on their potential to augment the resources of an entrant based on the antecedents of these modes is introduced, and testable propositions delimiting for which firms and in which circumstances each mode maximizes long-term value creation are explored.
Abstract: International strategies vary in their potential to exploit and augment a firm's resources, especially its knowledge base. Resource-based analysis suggests clustering the diverse entry modes in terms of their exploitation and augmentation characteristics. We thus introduce a new categorization of entry modes based on their potential to augment the resources of an entrant. We then explore the antecedents of these modes, and advance testable propositions delimiting for which firms and in which circumstances each mode maximizes long-term value creation. Finally, we outline how our resource-based framework complements transaction-cost-based frameworks.
Posted Content•
TL;DR: A U-shaped relationship between age and levels of life satisfaction for individuals aged between 16 and 65 is observed, and life satisfaction declines rapidly and the lowest absolute levels oflife satisfaction are recorded for the oldest old.
Abstract: This analysis uses data from the German Socio-Economic Panel (GSOEP) and the Survey on Health, Ageing and Retirement in Europe (SHARE) to assess the effect of ageing and health on the life satisfaction of the oldest old (defined as 75 and older). We observe a U-shaped relationship between age and levels of life satisfaction for individuals aged between 16 and approximately 65. Thereafter, life satisfaction declines rapidly and the lowest absolute levels of life satisfaction are recorded for the oldest old. This decline is primarily attributable to low levels of perceived health. Once cohort effects are also controlled for, life satisfaction remains relatively constant across the lifespan.
TL;DR: In this article, the authors discuss the assumptions needed to clean the disseminated TRACE data and suggest that different filters should be used depending upon the application, and that up to 18% of the reports should be deleted.
Abstract: The transactions database TRACE is rapidly becoming the standard data source for empirical research on US corporate bonds. This paper is the first to thoroughly discuss the assumptions needed to clean the disseminated TRACE data and to suggest that different filters should be used depending upon the application. 7.7% of all reports in TRACE are errors and in some cases up to 18% of the reports should be deleted. Failing to correct for these errors will bias popular liquidity measures towards a more liquid market. The median bias for the daily turnover will be 7.4% and for a quarter of the bonds the Amihud price impact measure will be underestimated by at least 14.6%. Further, calculating these two measures on the same data sample would potentially bias one of them.