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 & Context (language use). The organization has 2194 authors who have published 9649 publications receiving 341898 citations.

Are You Experienced? Prior Experience and the Survival of New Organizations

Abstract: This paper investigates the relationship between the level of pre‐entry experience of managers and founders, and the survival of their new firms. Using a comprehensive dataset covering the entire Danish labor market from 1980 to 2000, we are able to trace prior activities of all employees working in all Danish start‐ups with at least one employee. We examine whether spin‐offs from surviving parents, spin‐offs from exiting parents or other start‐ups are more likely to survive. Moreover, we investigate whether firms managed and founded by teams with higher levels of industry‐specific experience have a higher chance of surviving. We find that spin‐offs from a surviving parent and to a lesser degree industry‐specific experience positively affects the likelihood of survival. We also find that spin‐offs from a parent that exits are less likely to survive than either spin‐offs from surviving parents or other start‐ups.

A Network Perspective on Individual-Level Ambidexterity in Organizations

Abstract: Addressing the call for a deeper understanding of ambidexterity at the individual level, we propose that managers' networks are an important yet understudied factor in the ability to balance the trade-off between exploring for new business and exploiting existing business. Analyses of 1,449 ties in the internal and external networks of 79 senior managers in a management consulting firm revealed significant differences in the density, contact heterogeneity, and informality of ties in the networks of senior managers who engaged in both exploration and exploitation compared with managers that predominately explored or exploited. The findings suggest that managers' networks are important levers for their ability to behave ambidextrously and offer insights into the microfoundations of organizational ambidexterity.

Liquidity Biases in TRACE

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.

Caveat emptor – let the buyer beware! environmental labelling and the limitations of ‘green’ consumerism

Abstract: In recent years, the idea of ‘green’ or ‘political’ consumers expressing their political beliefs in everyday life has been widely embraced. Eager to satisfy the needs of this new market segment, firms have allocated substantial resources to environmental management, social accountability, corporate citizenship, occupational health and safety etc. During the 1990s, the industrialized world also witnessed a growing number of environmental labels, expected to guide the political consumers in their shopping decisions. Evaluations of these environmental labelling (eco-labelling) programmes indicate that some labels and product groups receive a great deal of attention while others remain in obscurity. To understand these differences, the paper will discuss some of the factors that determine the market impact of environmental labelling. It is concluded that the concept of the ‘green’ consumer is over-simplified and fails to capture the actual complexity of consumer values, attitudes and behaviour. The results are based on existing literature and our own empirical findings. Copyright © 2005 John Wiley & Sons, Ltd and ERP Environment.

The Varieties of Capitalism and Hybrid Success: Denmark in the Global Economy

Abstract: The varieties of capitalism literature maintains that advanced capitalist countries whose institutions best fit either the liberal or coordinated market economy types will perform better than countries whose institutions are mixed. This is because hybrids are less likely to yield functionally beneficial institutional complementarities. The authors challenge this assertion. Denmark has performed as well as many purer cases during the 1990s. And Denmark has recently developed a more hybrid form than is generally recognized by (a) increasing the exposure of actors to market forces and (b) decentralizing collective learning and decision making. The institutional complementarities associated with such hybridization have contributed to its success; however, these complementarities are based on institutional heterogeneity rather than homogeneity. This is demonstrated by analyses of three cases: Danish labor markets, vocational training, and industrial policy. The implication of the authors’ argument is that the ...