Stockholm School of Economics

About: Stockholm School of Economics is a education organization based out in Stockholm, Sweden. It is known for research contribution in the topics: Population & Cost effectiveness. The organization has 1186 authors who have published 4891 publications receiving 285543 citations. The organization is also known as: Stockholm Business School & Handelshögskolan i Stockholm.

Mixing business with politics: Political participation by entrepreneurs in China

Abstract: We study how Chinese private entrepreneurs benefit from participating in politics. Using original hand-collected data on listed firms controlled by private entrepreneurs, we document a significant positive relationship between political participation and subsequent change in firm performance. We also provide evidence that the change in social status cannot explain the change in performance. We then identify several ways through which firms gain preferential treatment when the controlling entrepreneur participates in politics: better access to debt financing, preferential tax treatment, more government subsidies, and superior access to regulated industries.

Managing cooperative research and development: Partner selection and contract design

Abstract: This paper explores the influence of partner selection and the design of contracts and agreements on the chances for a collaborative R&D venture to 'succeed'. It is based on questionnaire data regarding 49 such ventures undertaken by companies based in four Nordic countries. The age distribution of the sample is taken into account through use of statistical event history analysis, testing hypotheses regarding the determinants of the hazard rate. The results show that prior contacts with prospective partners improve the chances that a cooperation will succeed. Such contacts help prevent difficulties due to differences in corporate culture, inadequate technical capabilities, incongruous strategic intentions, etc. The analysis also suggests that contracts and agreements should avoid detailed specifications of the procedures to be followed during implementation. Such stipulations create problems by reducing the flexibility required in inherently uncertain R&D collaborations. Granting relative resource self-sufficiency and managerial autonomy to the venture organisation improves its chances of success.

Trading volume and autocorrelation: Empirical evidence from the Stockholm Stock Exchange

Abstract: In accordance with studies for other markets, Swedish index returns exhibit high autocorrelation, (a) after days of above average performance of the stock market, (b) after low absolute returns, (c) when trading volume is low, and (d) following Fridays. Contrary to the non-synchronous trading and the transaction cost hypotheses, all results extend to individual stock returns. It is concluded that autocorrelation patterns are related to the trading patterns of individual investors, and not the cross-security information processing of the market. In particular, the observed autocorrelation structure corresponds to feedback trading.