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.

Competition for Competence and Inter-Partner Learning within International Strategic Alliances

Abstract: Examines the impact of international alliances on interfirm learning. The focus is on whether there is a redistribution of skills among firms that pursue interfirm alliances. Data were gathered through interviews with individuals from eleven firms involved in nine international alliances. These firms were based in the United States, Europe, and Japan. From these interviews, three core concerns emerged with respect to interfirm learning: (1) intent of the partner firms (intent), (2) openness of the firm to its partner (transparency), and (3) ability to absorb skills from the partner firm (receptivity). Further data were gathered on five of the firms which were involved in two interfirm alliances. Only one reason was the same across firms: investment avoidance. The analysis shows that asymmetries in learning can result in a shift in relative competitive position and advantage between the firms outside of the alliance. This asymmetry can also change the relative bargaining power of the firms within the alliance. For those firms pursuing internationalization, the measure of success for alliances cannot be based on the longevity and stability of the partnerships. Process is more important than structure in the determination of learning outcomes. (SRD)

“I Shall Not Remain Insignificant”: Adding a Second Loop to Matter More

Abstract: An examination of how an individual working within the field of management research can increase the relevance of their work. The author notes that many scholars who work in the fields of research ...

Bookbuilding: How Informative is the Order Book

Abstract: When using a formal bookbuilding procedure, underwriters observe the demand curves of investors as stated in the "book" prior to pricing shares in an equity issue. The purpose of this paper is to examine whether the investment bank uses the information in the book when setting the issue price and whether this information can help predict subsequent secondary aftermarket prices. We examine the details of the institutional bids for shares for a sample of 63 international equity issues. We find that the issue price is closely related to the limit prices submitted by bidders. The level of oversubscription has a smaller but significant effect. The price primarily reflects the information in the price contingent bids of certain bidders such as large bidders and frequent bidders. Aftermarket returns in IPOs are positively correlated with oversubscription and elasticity of the demand.

Brands on the Brain: Neuro-Images of Advertising

Abstract: Neuroscience is opening a new chapter of understanding in many fields. One such is how advertising works. For the first time we can directly ‘see’ some effects of advertisements on the brain's activity. This article reports two small-scale experiments into the differential effects of advertising's rational and emotional components. Advertising has long been seen as providing reasons to buy, however subtle. In academic research at least, the importance of emotion has often been downplayed. The preliminary experiment reported here shows how emotional ads are more likely to be remembered. The second experiment uses brain imaging to investigate the part of the brain which responds to emotionally-engaging (‘affective’) and reason-engaging (‘cognitive’) advertising stimuli. These are very early days in using brain-imaging techniques and these experiments are very exploratory. However, as the three Commentaries by Simon Broadbent, Thomas O'Guinn and Larry Percy suggest, along with other work, they may point towards a revolution in advertising research.