London Business School

About: London Business School is a education organization based out in London, England, United Kingdom. It is known for research contribution in the topics: Portfolio & Equity (finance). The organization has 1138 authors who have published 5118 publications receiving 437980 citations. The organization is also known as: LBS.

A General Equilibrium Model of Portfolio Insurance

Abstract: This paper examines the effects of portfolio insurance on market and asset price dynamics in a general equilibrium continuous-time model. Portfolio insurers are modeled as expected utility maximizing agents in two alternative ways. Martingale methods are employed in solving the individual agents' dynamic consumption-portfolio problems. Comparisons are made between the optimal consumption processes, optimally invested wealth and portfolio strategies of the portfolio insurers and "normal agents". At a general equilibrium level, comparisons across economies reveal that the market volatility and risk premiums are decreased, and the asset and market price levels increased, by the presence of portfolio insurance.

Macroeconomic Instability and Business Exit: Determinants of Failures and Acquisitions of UK Firms

Abstract: We study the impact of the macroeconomic environment on business exit in a world where acquisition and bankruptcy are co-determined. We estimate competing risk hazard regression models using data on UK quoted firms spanning a 38-year period that witnessed several business cycles. We find that the processes determining bankruptcies and acquisitions depend on the macroeconomic environment. In particular, macroeconomic instability has opposing effects on bankruptcy hazard and acquisition hazard, raising the former and lowering the latter. While bankruptcy hazard is counter-cyclical and acquisition hazard pro-cyclical, the US business cycle is a better predictor than the UK cycle itself.

Cognitive social structures in social network research: A review

Abstract: Summary This review highlights one stream of work within the social network field, namely the work on cognitive social structures (CSS). First, CSS research is positioned within the field of social networks, and the key methods associated with CSS research are described. Research examining systematic biases in individuals' perceptions of social networks is covered, as is research examining the consequences of biased network perceptions (in terms of behaviors and outcomes). A research agenda is forwarded, suggesting three key directions for future research: the social capital of cognitive ties, extending and challenging network accuracy as a source of advantage and collective agency and organizational change. The overall goal is to invigorate research that moves beyond the description of cognitive social structures to an outcome-focused research paradigm. Copyright © 2013 John Wiley & Sons, Ltd.

Linking Systems to Strategy

Abstract: Presents a framework to determine manufacturing planning and control system requirements that reflect differences in manufacturing strategy and process technology in a business. Manufacturing planning and control systems represent a critical part of the manufacturing infrastructure and support functions, and their design needs to be closely linked to decisions regarding a firm′s manufacturing strategy and choice of processes. Discusses examples of companies which have developed a good fit between their manufacturing planning and control systems and their manufacturing strategy in terms of the framework presented.

Value appropriation as an organizational capability: the case of IP protection through patents

Abstract: We develop and test a theoretical framework that describes the organizational antecedents of value appropriation capabilities in the context of obtaining patent protection. We argue that intermediate levels of cross-functional involvement across intellectual property (IP) generation, protection, and utilization activities outperform very high or very low levels of functional specialization in terms of obtaining rapid patent protection; while these activities are distinct enough to generate gains from specialization, there are also significant gains to be generated by coordinating across them, which cross-functional involvement achieves. Using a unique dataset that combines survey and patent (application) data, and multiple estimation techniques, we test and find support for our arguments. Copyright © 2009 John Wiley & Sons, Ltd.