Showing papers by "Stockholm School of Economics published in 1995"
TL;DR: In this paper, a three-fold typology of subsidiary roles (world mandate, specialized contributor, local implementer) was induced from the literature and its empirical validity was confirmed by adopting a configurational approach, and explored the ways in which subsidiary "structural context" varies across subsidiary role types.
Abstract: A three-fold typology of subsidiary roles (world mandate, specialized contributor, local implementer) was induced from the literature and its empirical validity was confirmed. Adopting a configurational approach, we then explored the ways in which subsidiary ‘structural context’ varies across subsidiary role types. Structural context characteristics were determined through a discussion of the underlying principles of the ‘hierarchy’ and ‘heterarchy’ models of multinational organization. The key findings were: (a) higher strategic autonomy in world mandates than in local implementers; (b) a more internationally configured value-chain in world mandates and specialized contributors than local implementers; (c) lower levels of internal product flows in world mandates than the other two types; and (d) a significantly lower performance in specialized contributors. Implications for a configurational model of subsidiary management, and for heterarchy as a higher level conceptualization, are discussed.
843 citations
TL;DR: In this article, a conceptual model is developed based on the abstraction level of the transfer process and whether it is driven by supply or demand, which is applied to two cases: the Quality Control Circle (QCC) and Time-based Competition (TBC).
Abstract: Learning from organizational innovations and best practices has become common. However, transfer of organizational innovations over cultural, national and industry borders often fails. A conceptual model is developed based on the abstraction level of the transfer process and whether it is driven by supply or demand. The content of transfers is classified as principles, organ izational vehicles and tools. The model is applied to two cases: the Quality Control Circle (QCC) and Time-based Competition (TBC), which illustrate how principles and tools were transferred with little modifications while organ izations had to be recreated through an abstraction-application process.
289 citations
TL;DR: In this paper, the authors explore the role of the management accounting system in the process of adopting a complex manufacturing strategy, lean production, and find that traditional performance measures have to reach a certain threshold to support the adoption of lean production.
Abstract: Explores the role of the management accounting system in the process of adopting a complex manufacturing strategy, lean production. Finds, in a longitudinal field study, using the clinical methodology, that in order to change the management accounting system to support the adoption of lean production, traditional performance measures have to reach a certain threshold. An important way to create impetus for this change is to raise the level of the unit of analysis in the management accounting system, both horizontally and vertically. Finally, the management accounting system affects the process in three concurrent ways: technically, through its design; formally, through its role in the organization; and cognitively, through the way in which actors think about and use the management accounting system. Proposes that in order for the system to be congruent with lean production principles, all three of these perspectives need to be changed.
212 citations
TL;DR: The authors argue that there is less consensus in our understanding of internalization and transaction costs than commonly supposed, and that a fuller vision of the terrain already mapped and that which is yet uncharted would provide a more useful basis for exploration and discovery.
Abstract: Debate is an indication that an issue warrants discussion. The comments of James Love and Donald McFetridge in this issue are fine statements that articulate a received wisdom.' Their comments differ with each other, and these differences remind us that there is less consensus in our understanding of internalization and transaction costs than commonly supposed. If we do not address all of the commentators' specific points, it is not for lack of appreciation, but because it is our belief that a fuller vision of the terrain already mapped and that which is yet uncharted would provide a more useful basis for exploration and discovery. A listing of issues is the task of a referee, while a published debate might perform a useful task by laying out the contours of the research tradition and future.
194 citations
TL;DR: A project network approach is proposed for describing the design and implementation processes in major investments that takes place in "semi-hierarchical" networks and is easier to plan and control.
154 citations
TL;DR: It is concluded that to interpret and use cost-effectiveness analysis as a tool to maximize the health effects for one specified real-world budget, will be inconsistent with a societal perspective and is likely to lead to major problems of suboptimization.
118 citations
TL;DR: The debate on the role of government policies for economic performance has, in recent years, turned from discussing the choice between free markets and government intervention to asking what types of intervention are good or bad.
114 citations
TL;DR: A computer simulation model for calculating the cost-effectiveness and cost-utility of treating patients with established osteoporosis in order to reduce the risk of fractures is presented.
Abstract: This study presents the results of a computer simulation model for calculating the cost-effectiveness and cost-utility of treating patients with established osteoporosis in order to reduce the risk of fractures. The results are based on Swedish data for risk of fracture and costs. The treatment intervention modelled is based on treatment of a 62-year-old woman with established osteoporosis. The cost per hip fracture avoided is 350,000 SEK, assuming a 50% reduction in the risk of fracture due to 5 years of treatment. A sensitivity analysis for changes in the cost and effectiveness of treatment, the risk of fracture and the discount rate is performed. The cost per life-year gained and the cost per quality-adjusted life-year (QALY) gained is presented to enable comparison of the cost-effectiveness of treating osteoporosis with that of other health care interventions. A comparison between treating the same woman for osteoporosis and mild hypertension shows a cost per life-year gained of 220,000 SEK and 128,000 SEK respectively. Cost per QALY gained is very similar for the two interventions: 105,000 SEK and 103,000 SEK respectively. This model provides a tool to enable clinicians, administrators and health policy makers to analyze and understand the economic aspects of a major health policy issue.
85 citations
TL;DR: It is found that the cost per life-year gained decreases with age for both men and women, and is relatively low for middle-aged and older patients, even when the diastolic blood pressure (DBP) range is 90 to 94mm Hg.
Abstract: The aim of this study was to carry out an analysis of the cost effectiveness of antihypertensive drug treatment in different patient groups in Sweden. The cost effectiveness ratios were estimated as net costs (treatment costs minus reduced costs of cardiovascular morbidity) divided by the number of life-years gained (the increase in life expectancy). The analysis was based on the reduction of coronary heart disease and stroke in the most recent meta-analysis of antihypertensive treatment, to which Swedish cost data were applied.
56 citations
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TL;DR: In this paper, Monte Carlo experiments show that some tests of the cointegration vectors do not work well on series generated by an equilibrium business cycle model, while structural VAR models based on weak long run restrictions seem to work well.
Abstract: Cointegration analyses of macroeconomic time series are often not based on fully specified theoretical models. We use a theoretical model to scrutinize common procedures in applied cointegration analysis. Monte Carlo experiments show that (1) some tests of the cointegration vectors do not work well on series generated by an equilibrium business cycle model; (2) cointegration restrictions add little in forecasting; (3) structural VAR models based on weak long run restrictions seem to work well. The main disadvantages of cointegration analysis without strong links to economic theory are that it makes it hard to estimate and interpret the cointegration vectors.
46 citations
TL;DR: It is concluded that the 'health care budget' perspective should be abandoned and the societal perspective reinstated in economic evaluation of health care.
TL;DR: In this article, the authors considered modeling the annual logarithmed per capita gross national product of the United States in 1889-1987 and found that the series turns out to be nonlinear and can be adequately characterized by an exponential smooth transition autoregressive model.
Abstract: This paper considers modelling the annual logarithmed per capita gross national product of the United States in 1889–1987. Some authors have suggested that the parameters of the process generating the data have changed over time but formal parameter constancy tests do not support this argument. The series turns out to be nonlinear and can be adequately characterized by an exponential smooth transition autoregressive model. For comparison, a detrended series is also considered, found nonlinear and modelled using a logistic smooth transition autoregressive model. The behaviour of the estimated models is discussed, and it is seen that nonlinearity is needed to describe the response of the process to exceptionally large exogenous shocks. The properties of the models are further investigated by forecasting several years ahead, and the forecasts are compared with those from other linear and nonlinear models.
TL;DR: Preliminary results methodological issues in collaborative multicentre placebo-controlled studies in the treatment of depression efficacy and safety of anti-depressants in the elderly are reported.
Abstract: Serotonin receptors - from genes to pathology relapse, recurrence and chronicity in depression nicotine and major depression - a genetically based association with clinical implications the treatment of depression in primary care a double-blind study with Fluvoxamine versus Desipramine combined with placebo or Haloperidol in delusional depression - preliminary results methodological issues in collaborative multicentre placebo-controlled studies in the treatment of depression efficacy and safety of anti-depressants in the elderly. (Part contents).
TL;DR: The results indicate that the population overall thinks that the current spending on health care in Sweden is on a reasonable level, and there seems to be a willingness to increase the tax payments somewhat, but major increases does not seem acceptable to a majority of the population.
TL;DR: In the last two decades, production by multinational firms outside their home countries has increased over the last decade, but it was still, in 1990, only about 7 percent of world output as mentioned in this paper.
Abstract: Internationalized production, that is, production by multinational firms outside their home countries has increased over the last two decades, but it was still, in 1990, only about 7 percent of world output. The share was higher, at 15 percent in 'industry,' including manufacturing, trade, construction, and public utilities, but it was negligible in 'services,' which are about 60 percent of world output. Given all the attention that 'globalization' has received from scholars, international organizations, and the press, these numbers are a reminder of how large a proportion of economic activity is confined to single geographical locations and home country ownership. Internationalization of production is clearly growing in importance, but the vast majority of production is still carried out by national producers within their own borders.
TL;DR: The relationship between public sector attributes and household characteristics, and Swedish household migration, 1981-4, is studied and multinomial logit is applied to a three-way choice set: staying and migrating short and long distances.
Abstract: WESTERLUND O. and WYZAN M. L. (1995) Household migration and the local public sector: evidence from Sweden, 1981–1984, Reg. Studies 29, 145–157. In this paper, the relationship between public sector attributes and household characteristics, and Swedish household migration, 1981–4, is studied. We report results separately for metropolitan and non-metropolitan areas because the per capita levels of the tax base and intergovernmental grants are theoretically important migration determinants where population is sparse, whilst the tax rate may be more important where population is dense. Because fiscal influences are likely to be stronger for short-distance migration, we apply multinomial logit to a three-way choice set: staying and migrating short and long distances. Empirical results support our fiscal hypotheses and are consistent with previous findings on household characteristics. WESTERLUND O. et WYZAN M. L. (1995) La migration des menages et le secteur public local: des preuves provenant de la Suede de ...
TL;DR: The aim of this study was to carry out a cost‐effectiveness analysis of a multifactorial intervention programme in treated hypertensive patients and found that the programme had limited impact on mortality and morbidity.
Abstract: . Objectives. The aim of this study was to carry out a cost-effectiveness analysis of a multifactorial intervention programme in treated hypertensive patients.
Design. A cost-effectiveness analysis based on 3 years of follow-up in an open, randomized, parallel-group study with allocation either to a comprehensive, multiple-risk-factor modification programme or to conventional treatment.
Setting. An outpatient clinic of a city hospital.
Subjects. Inclusion criteria were: male sex, age 50–72 (mean 66.4) years, treated hypertension and at least one of the following: serum cholesterol ≥ 6.5 mmol L-1, and/or smoking and/or diabetes mellitus. A total of 508 patients were included in the study.
Interventions. Advice given to individuals, and group meetings based on nutritional advice and behavioural treatment principles. If necessary, drug therapy could be instituted to achieve the treatment goals in the intervention group: serum total cholesterol of < 6.0 mmol L−1, no smoking, HbAlc < 6.0% and diastolic blood pressure < 90 mmHg in both groups.
Main outcome measure. Incremental cost per life-year gained of the intervention programme.
Results. The cost per life-year gained was SEK 4000 in an estimation based on the observed risk reduction and ranged between SEK 62 000 and SEK 163 000 in three estimations based on the risk factor changes.
Conclusions. The analysis indicates that the intervention programme is cost-effective in the studied patient population.
TL;DR: This paper investigates the treatment of health and the risk of 'doomsday' caused by pollution in welfare measures and addresses the matter of how to design a subsidy on health investment such that a market economy provides the optimal level of health.
TL;DR: In this paper, the authors extend the Krugman target zone model by including a realignment mechanism, such that no jump in fundamental is needed to accompany the jump in the exchange rate.
TL;DR: This study compares the cost effectiveness of Helicobacter pylori eradication and conventional treatment in duodenal ulcer patients treated by a general practitioner using a Markov chain approach, Swedish cost data and a study period of 5 years.
Abstract: This study compares the cost effectiveness of Helicobacter pylori eradication and conventional treatment in duodenal ulcer patients treated by a general practitioner. Using a Markov chain approach, Swedish cost data and a study period of 5 years, we conclude that H. pylori eradication with omeprazole and appropriate antibiotics is a cost-effective alternative compared with both maintenance and episodic treatment. Of the patients entering the eradication strategy, most are cured and will have no relapse during a 5-year period. H. pylori eradication results in higher initial costs but, because of a very low risk of recurrence after successful eradication, the expected future costs are reduced. The investment pays off within 1 year when compared with maintenance treatment, and within 3 years when compared with episodic treatment.
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TL;DR: In this article, the authors studied competition in small, concentrated and inter-related markets and found that if prices in nearby markets are low and the distances to them are short, it reduces prices.
Abstract: This paper studies competition in small, concentrated and inter-related markets. Our data set consists of price information from 543 driving schools in 250 local markets in Sweden, which gives a large sample to test hypotheses on how market structure influences competition. The results show that if prices in nearby markets are low and the distances to them are short, it reduces prices, as suggested in models of spatial competition. Moreover, we find that prices in closely located markets are interdependent. It is also shown that prices are increasing in firm concentration within a market, as most theories of oligopoly predict.
TL;DR: Different decision and policy situations where economic evaluations of drug treatments could potentially be used are examined, finding that economic evaluations appear to be most useful in the development of treatment guidelines and as an aid to reimbursement decisions.
Abstract: Interest in the economic evaluation of drug treatments is steadily increasing, but the impact of such evaluations on decisions concerning the use of drugs is unclear. In this article I examine different decision and policy situations where economic evaluations of drug treatments could potentially be used. Economic evaluations may be used as an aid to the development of treatment guidelines, decisions within healthcare organisations. and decisions relating to approval, reimbursement and pricing.
TL;DR: In this article, the authors used the veil of ignorance approach to empirically determine the shape of the social welfare function for income and found that respondents are willing to give up Swedish Crowns (SEK) 1 in the group with more income to gain SEK 0.35 in the groups with less income, but this trade-off is independent of the size of the difference in income between the groups.
Abstract: The veil of ignorance approach is tested as a basis for empirically determining the shape of the social welfare function for income. An experiment is carried out where the participants choose between different societies that differ with respect to per capita income and the distribution of income. The answers are analysed using logistic regression analysis. According to the results the respondents are willing to give up Swedish Crowns (SEK) 1 in the group with more income to gain SEK 0.35 in the group with less income, but this trade-off is independent of the size of the difference in income between the groups.
TL;DR: The Merton jump-diffusion model has been proposed as a more realistic currency option model, to eliminate pricing biases inherent in the Garman-Kohlhagen model as discussed by the authors.
TL;DR: Examination of different decision and policy situations where economic evaluation of health care programmes could potentially be used concluded that economic evaluation seems to be most useful in the development of treatment guidelines and as an aid to reimbursement decisions.
TL;DR: In this article, the authors show that the mere opportunity to wait out the opponent's move may be as harmful as a second-mover disadvantage, even when firms' initial moves are simultaneous.
TL;DR: In this article, the price elasticity of the demand for telecommunication between Sweden and six destination countries, Germany (FRG), United Kingdom, USA, and the three Scandinavian countries Denmark, Finland, and Norway, is investigated.
TL;DR: It is concluded that to get a more sober discussion about the use and interpretation of cost-effectiveness analysis it is important that the technique is used correctly.
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TL;DR: In this paper, the authors model the trade-off between the relative size of regions and the distribution of tastes in determining the optimum as well as the equilibrium design of jurisdictions, and show that both of these two forces are important parameters of the problem.
Abstract: Decentralized government lead to inter-regional externalities. Whereas an integrated jurisdiction solves the externality problem, centralized government entails other costs--in particular a neglect for minority interests. The paper models formally the trade-off between these two forces in determining the optimum as well as the equilibrium design of jurisdictions. Both the relative size of regions and the distribution of tastes are shown to be important parameters of the problem.