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.

Consequences of cultural practices for entrepreneurial behaviors

Abstract: Although national culture is an important regulator of entrepreneurship, there is a dearth of studies that: (1) explore the effects of national cultural practices on entrepreneurial behaviors by individuals; (2) use appropriate multilevel research designs; (3) consider the effects of culture on different entrepreneurial behaviors, such as entry and post-entry growth aspirations. We combined Global Entrepreneurship Monitor (GEM) and Global Leadership and Organizational Behavior Effectiveness (GLOBE) data from 42 countries for 2005–2008 to address these gaps, using a multilevel design. We found societal institutional collectivism practices negatively associated with entrepreneurial entry, but positively associated with entrepreneurial growth aspirations. Uncertainty avoidance practices were negatively associated with entry but not with growth aspirations, and performance orientation practices were positively associated with entry. Our analysis highlights the differential effects of cultural practices on entrepreneurial entry and growth aspirations, and demonstrates the value of multilevel techniques in analyzing the effect of culture on entrepreneurship.

The determinants of host country spillovers from foreign direct investment: a review and synthesis of the literature

Abstract: The existence of spillover efficiency benefits to host country economies from inward foreign direct investment (FDI) is well documented in the literature.1 The determinants of the size and scope of the spillover benefits have also been studied, but they are not as clearly and consistently documented as the existence and magnitude of the relevant externalities.

Returns to shareholder activism: evidence from a clinical study of the Hermes UK Focus Fund

Abstract: This article reports a unique analysis of private engagements by an activist fund. It is based on data made available to us by Hermes, the fund manager owned by the British Telecom Pension Scheme, on engagements with management in companies targeted by its UK Focus Fund. In contrast with most previous studies of activism, we report that the fund executes shareholder activism predominantly through private interventions that would be unobservable in studies purely relying on public information. The fund substantially outperforms benchmarks and we estimate that abnormal returns are largely associated with engagements rather than stock picking.

‘Development Blocks’ in Industrial Economics

Abstract: The concept development block refers to a set of factors in industrial development which are closely interconnected and interdependent. Some of them are reflected in price and cost signals in markets which are noted by firms and may give rise to new techniques and new products. Some of them come about by firms creating new markets for their products via entrepreneurial activities in other industries. This, too, may include the creation of new techniques and new products. In both cases, incomplete development blocks generate both difficulties and opportunities for firms. This analytical approach can contribute to closing the gap between micro and macro analysis.

The Swedish banking crisis: roots and consequences

Abstract: The article analyses the Swedish banking crisis in the early 1990s. Newly deregulated credit markets after 1985 stimulated a competitive process between financial institutions where expansion was given priority. Combined with an expansive macro policy, this contributed to an asset price boom. The subsequent crisis resulted from a highly leveraged private sector being simultaneously hit by three major exogenous events: a shift in monetary policy with an increase in pre-tax interest rates, a tax reform that increased after tax interest rates, and the ERM crisis. Combined with some overinvestment in commercial property, high real interest rates contributed to breaking the boom in real estate prices and triggering a downward price spiral resulting in bankruptcies and massive credit losses. The government rescued the banking system by issuing a general guarantee of bank obligations. The total direct cost to the taxpayer of the salvage has been estimated at around 2 per cent of GDP. Copyright 1999 by Oxford University Press.