Copenhagen Business School

About: Copenhagen Business School is a education organization based out in Copenhagen, Hovedstaden, Denmark. It is known for research contribution in the topics: Corporate governance & Entrepreneurship. The organization has 2194 authors who have published 9649 publications receiving 341898 citations.

Decomposing Swap Spreads

Abstract: We analyze a six-factor model for Treasury bonds, corporate bonds, and swap rates and decompose swap spreads into three components: A convenience yield from holding Treasuries, a credit risk element from the underlying LIBOR rate, and a factor specific to the swap market. The convenience yield is by far the largest component of spreads, there is a discernible but not highly variable contribution from credit risk, and a swap-specific factor with higher variability which in periods is related to hedging activity in the MBS market. The model further sheds light on the relationship between AA hazard rates and the spread between LIBOR rates and GC repo rates and on the level of the riskless rate compared to swap and Treasury rates.

Lost in state space: are preferences stable?*

Abstract: We use field experiments to examine the temporal stability of risk preferences. Over a 17-month period, we elicited risk preferences from subjects chosen to be representative of the adult Danish population. During this period we revisited many of these subjects and repeated a risk aversion elicitation task. We find some variation in risk attitudes over time, but we do not detect a general tendency for risk attitudes to increase or decrease over a 17-month span. The results also suggest that risk preferences are state contingent with respect to personal finances.

Brand Management: Research, Theory and Practice

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

Developing and managing knowledge through intellectual capital statements

Abstract: On the basis of empirical illustrations from five Danish firms this paper discusses how the objects of intellectual capital statements were constructed. These objects were the activities that defined knowledge management, and the intellectual capital statements monitored these through depicting a particular narrativised strategy for managing knowledge – called a knowledge narrative – and through a monitoring system that reflected the activities set in motion to mobilise the strategy for managing knowledge. Particularly, the paper discusses the idea of knowledge as a narrative. It is suggested that for knowledge to count, it has to be able to produce something. This something is found the value‐to‐the‐user of the products and services.