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01/10/2020

Bjarke MacCarthy
Foto: Bjarke MacCarthy

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Natural Logic Knowledge Bases and Their Graph Form
Abstract:This paper describes how knowledge bases can be represented in and reasoned with in natural logic. Natural logic is a regimented fragment of natural language possessing a well-defined logical semantics. As such, natural logic may be considered an attractive alternative among the various knowledge representation logics such as description logics. Our version of natural logic expands formal ontologies with affirmative propositions expressing a variety of relationships between concepts. It comprises (nested) restrictive relative clauses and prepositional phrases and, as a new construct, adverbial prepositional phrases. The natural logic knowledge base is to be used for deductive query answering applying inference rules. This is facilitated by introduction of Datalog as an embedding meta-logic. The inference rules are stated in Datalog and act directly on the natural logic formulations. The knowledge base propositions are decomposed into a graph form enabling path finding between concepts. The examples in the paper are derived from text source life-science descriptions.

Journal: Data & Knowledge Engineering
Published: August 2020
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Contact CBS researcher: Per Anker Jensen

Definancialization, Financial Repression and Policy Continuity in East-Central Europe
Abstract: The Great Financial Crisis ushered unorthodox financial policies that would have been unfathomable before 2008. Perhaps unexpectedly, some of the boldest measures on this unorthodox spectrum were adopted in semi-peripheral and therefore theoretically vulnerable countries such as some of the European Union’s new member states from East-Central Europe. Why did policy makers in some of these countries (Hungary, Romania) embarked on rolling back financialization and resort to financial repression in ways that targeted foreign banks in contexts in which this seemed a very risky strategy? Why did such bold moves generally re-established state-finance relations in some countries (Hungary) while comparably milder ones left them generally unaltered in others (Romania)? Finally, why have some countries refrained altogether from such forms of financial unorthodoxy (Latvia)? The paper explains the varieties of policy responses in these countries, with three factors: the role of finance in the national growth model, the capacity of the state to protect itself against adverse bond market reactions and international constraints and opportunities.

Journal: Review of International Political Economy
Published: August 2020
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Contact CBS researcher: Cornel Ban

Model Talk: Calculative Cultures in Quantitative Finance
Abstract: This paper explores how calculative cultures shape perceptions of models and practices of model use in the financial industry. A calculative culture comprises a specific set of practices and norms concerning data and model use in an organizational setting. Drawing on interviews with model users (data scientists, software developers, traders, and portfolio managers) working in algorithmic securities trading, I argue that the introduction of complex machine-learning models changes the dynamics in calculative cultures, which leads to a displacement of human judgment in quantitative finance. In this paper, I distinguish between three calculative cultures: (1) an idealistic culture of undivided trust in models, (2) a pragmatic culture of skepticism toward model accuracy, and (3) a pragmatic idealist culture of early stage skepticism and implementation and production-phase idealism. Based on the empirical material, the analysis engages with examples of each of the three calculative cultures. The study contributes to the social studies of finance and science and technology studies more broadly by showing how perceptions of models shape and are shaped through model work in data-intensive, computerized finance.

Journal: Science, Technology & Human Values
Published: July 2020
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Contact CBS researcher: Kristian Bondo Hansen

Managing Digital Transformation: Scope of Transformation and Modalities of Value Co-generation and Delivery.
Abstract: The diffusion of digital technologies has enabled a notable transformation in the firms’ boundaries, processes, structures, roles, and interactions. It is now clear that digital transformation is not just a traditional IT back-end process; rather it affects the organization as a whole, redefining strategies, entrepreneurial processes, innovation, and governance mechanisms. This permeation has led to the emergence of new ways of organizing firms’ value chains and interfirm relationships, which now increasingly occur in digital ecosystems and marketplaces. The scope of transformation as well as the modalities of value co-generation and delivery are here used to introduce the content of this Special Issue of California Management Review on Digital Transformation.

Journal: California Management Review
Published: August 2020
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Contact CBS researcher: Carmelo Cennamo

Market Structure and Transaction Costs of Index CDSs.
Abstract: Despite regulatory efforts to promote all-to-all trading, the post–Dodd-Frank index credit default swap market remains two-tiered. Transaction costs are higher for dealer-to-client than interdealer trades, but the difference is explained by the higher, largely permanent, price impact of client trades. Most interdealer trades are liquidity motivated and executed via low-cost, low-immediacy trading protocols. Dealer-to-client trades are nonanonymous; they almost always improve upon contemporaneous executable interdealer quotes, and dealers appear to price discriminate based on the perceived price impact of trades. Our results suggest that the market structure is a consequence of the characteristics of client trades: relatively infrequent, large, and differentially informed.

Journal: Journal of Finance
Published: 2020
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Contact CBS researcher: Anders B. Trolle

Firm Enablement through Outsourcing: A Longitudinal Analysis of how Outsourcing Enables Process Improvement under Financial and Competence Constraints
Abstract: The dominant view is that outsourcing is driven by efficiency considerations. We demonstrate that a different path to outsourcing originates from critical internal resource shortages. These shortages pose a critical dilemma; on the one hand outsourcing is a reasonably durable approach to solving resource shortages. On the other hand, the same resource shortages complicate the management of outsourcing and may create knowledge and evaluation problems. We empirically examine this dilemma and thereby add to the limited work on the enabling effects of outsourcing under resource constraints. We employ two rich and unique panel datasets of Australian firms observed over five-year periods, to test dynamic change models if firm-level financial and competence constraints induce outsourcing, and if this in turn enables internal process improvement. The results show that outsourcing indeed is associated with both financial and competence constraints, although the impact of these constraints differs over time. In turn, we find that increased outsourcing relates positively to contemporaneous and future process improvement. These findings thus shed a positive light on how outsourcing can enable firms to overcome constraints and realize internal process improvement.

Journal: Industrial Marketing Management
Published: 2020
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Contact CBS researcher: Henri C. Dekker

Equality and Gender at Work in Islam: The Case of the Berber Population of the High Atlas Mountains.
Abstract: This article investigates how religion-based social norms and values shape women’s access to employment in Muslim-majority countries. It develops a religiously sensitive conceptualization of the differential valence of genders based on respect, which serves to (re)produce inequality. Drawing on an ethnographic study of work practice in Berber communities in Morocco, aspects of respect are analyzed through an honor–shame continuum that serves to moralize and mediate gender relations. The findings show that respect and shame function as key inequality-(re)producing mechanisms. The dynamic interrelationship between respect and shame has implications for how we understand the ways in which gender inequality is institutionalized and (re)produced across different levels. Through these processes, gender-differentiated forms of respect become inscribed in organizational structures and practices, engendering persistent inequality.

Journal: Business Ethics Quarterly
Published: August 2020
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Contact CBS researcher: Claudia Eger

Introduction to the Special Issue ‘Beyond Civil Society’: Advancing a Post-sectoral Conception of Civil Society—Moving Beyond Civil Society?
Abstract: Pending

Journal: International Journal of Politics, Culture, and Society
Published: August 2020
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Contact CBS researcher: Liv Egholm, Lars Bo Kaspersen

Turning Local: Home-bias Dynamics of Relocating Foreigners
Abstract: Using comprehensive data from Denmark, we study private investors’ preferences for domestic stocks. We compare the equity home bias of foreigners recently relocated to Denmark to the equity home bias of other investors. We find that home bias of recently relocated foreigners is lower than home bias of other investors. Our main result is that when relocated foreigners’ duration of stay increases, their home bias also increases. After 7–8 years, home bias of relocated foreigners does not differ from home bias of other investors. Our results imply that familiarity with domestic stocks develops dynamically with the length of stay in a given country. We discuss implications for explanations of the home-bias puzzle building on information asymmetries.

Journal: Journal of Empirical Finance
Published: 2020
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Contact CBS researcher: Bjarne Florentsen, Ulf Nielsson, Jesper Rangvid

Strategy-making in a Loosely Coupled System: The Guided Evolution of the Copenhagen Business School
Abstract: While considerable research interest has been devoted to university governance (i.e., the allocation of authority over decisions in a university), little is known about the formation and content of university strategy and how it relates to university governance and organization. To further our knowledge about university strategy and its relation to university governance, we undertake a process study of the emergence of strategies for the organization of research work at one of the largest business schools in the world, the Copenhagen Business School (CBS), in the period 1987 to 2009. We find that CBS strategy processes in this period followed a “guided evolution” model, in which the top manager (president) invited bottom-up (research) initiatives, and supported selected ones. Such processes are likely to arise in, and be appropriate for, organizations that are characterized by considerable ambiguity, unclear/vague input/output measures, conflicting interests, and substantial heterogeneity in activities, as exemplified by universities. We discuss the benefits and costs of the guided evolution approach.

Journal: Beta
Published: 2020
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Contact CBS researcher: Nicolai J. Foss

The European Commission’s Ideas on Integrating Underrepresented Groups into the Labour Market.
Abstract: The paper explores the European Commission’s ideas on social policy. It contributes to the debate on asymmetric economic and social policies in the EU from an ideational perspective. Analysing Commission reports on labour markets, employment, and social affairs over a fifteen-year period (2004–2018), I seek to understand what ideas on employment of underrepresented labour market groups are prominent in the reports and whether there is variation over time. To do so, I draw on the theoretical literature on ideas. The paper concludes that the Commission’s approach to underrepresented groups in the labour market has been and remains justified by an economic growth-discourse, leading to frames and policy ideas dominated by supply-side thinking. Thus, there has been a lack of new policy solutions to underrepresented labour market groups over the past fifteen years, revealing a lack of ideational innovation in the Commission’s early-stage policy formulation.

Journal: European Politics and Society
Published: August 2020
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Contact CBS researcher: Lea Acre Foverskov

Maps of Behavioural Economics: Evidence from the Field
Abstract: Behavioural economics is a research agenda, which gradually has moved from the periphery to the centre of the discipline of economics. The rise of behavioural economics has fostered a burgeoning number of studies dealing with the past, present and future of the field. In contrast to these studies which focus on predestinated scholars, outlets and key concepts, this article uses exploratory bibliometric approaches to map behavioural economics. Utilising a novel data set, comprising 104,558 references across 1,872 articles published in the period 1956–2016, the article systematically illuminates the historical foundations, development and interdisciplinary nature of behavioural economics. The article shows (a) the overlooked role of several behavioural psychologists in shaping the field; (b) the influence of the Anglo-Saxon universities, such as University of California Berkeley, Harvard University and University of Pennsylvania; and that (c) behavioural economics mainly draws knowledge from five disciplinary clusters: (a) economics and policy, (b) psychology, (c) pharmacology, (d) health and (e) law.

Journal: Journal of Interdisciplinary Economics
Published: August 2020
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Contact CBS researcher: Mads Dagnis Jensen

Political Trust, Shocks, and Accountability: Quasi-experimental Evidence from a Rebel Attack
Abstract: How does armed conflict affect accountability and political trust in democratic governments? To answer this question, we present quasi-experimental evidence based on survey data which, coincidentally, were collected in the days surrounding an unanticipated violent attack by a rebel group in Mali. The chance occurrence of the attack five days into the survey demarcates respondents into two groups surveyed before and after the attack and allows us to examine how the attack affected approval of politicians and trust in political institutions. Our results show that people mainly attribute responsibility to the president and not to parliament or local government, while trust in institutions is largely unaffected. We also show that these effects are strongest in the region of the attack. These findings suggest that voters in new democracies are capable of attributing responsibility to individual politicians and governments while maintaining trust in the fundamental political institutions of democracy.

Journal: Journal of Conflict Resolution
Published: 2020
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Contact CBS researcher: Mogens Kamp Justesen

Jurisdiction Shopping and Foreign Location Choice: The Role of Market and Nonmarket Experience in the European Solar Energy Industry
Abstract: Several countries provide policy support to specific sectors in order to facilitate industry transitions. While industry-support policies stimulate the growth of their target sectors, little is known about how such policies engender heterogeneous international strategies. In this article, we investigate how industry-support policies influence foreign location choices. We argue that firms engage in jurisdiction shopping, choosing to invest in countries with more generous policy support, but that this tendency varies markedly across firms. Specifically, we suggest that firms’ nonmarket experience exacerbates the effect of policy support on location choice, whereas market experience has less of an impact. Further, we propose that some firms view generous policies more skeptically than others, depending on the nature of their nonmarket experience. We test and find support for our predictions using a longitudinal dataset of foreign investments of firms entering the solar energy industry in the European Union. Our findings indicate that supportive policies stimulate the energy transition, attracting in particular foreign entrants diversifying into renewables or having more policy experience. At the same time, they suggest that adverse policy changes in one country affect how firms assess policies in other countries, highlighting the need for policy coordination at a supranational level.

Journal: Journal of International Business Studies
Published: August 2020
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Contact CBS researcher: Joao Albino Pimentel

The Impact of Distance, National Transportation Systems and Logistics Performance on FDI and International Trade Patterns: Results from Asian Global Value Chains.
Abstract: With almost 30 per cent of the global foreign direct investment (FDI) inflows channeled to Asia the region is world leading in attracting FDI. Yet, on a sub-regional level South Asia is the weakest region among all Asian sub-regions. This gives raise to the question what separates South Asian countries from their more successful East and South East neighbouring countries.
The general question why certain countries manage to attract FDI while others fail has been frequently addressed in literature. Moreover, research in logistics and transportation claims on a host of determinants that explains the location considerations of MNEs based on host country logistic performance. By implementing these determinants into more traditional FDI and trade models our objective is to shed more light on the importance of the individual aspects of national transportation systems on the FDI and trade patterns in the Asian region. Moreover, we provide theoretical arguments and empirical evidence that national transportation systems moderate the effects of the different dimensions of (between-) country distance on international trade and FDI performance.
Our findings show that the elements of national transportation systems positively influence both trade and FDI. Additionally, more developed national transportation systems are able to overcome the costs of distance to some degree. We also find support for the notion that the nature of the costs of geographic distance (e.g. transportation costs) differ between trade and FDI. While the former is related to international transportation and port infrastructure, the latter is based on within-country transportation and is moderated by land-based transportation infrastructure.

Journal: Transport Policy
Published: 2018
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Contact CBS researcher: Aseem Kinra

Civil Society in the Shadow of the Neoliberal State
Abstract: In this paper, I outline an approach to civil society that is in contradistinction to the dominant liberal conception of civil society as a sphere or sector distinct from the state with inherently positive values. Instead, I argue, civil society always exists in the shadow of the state. I propose to advance a conception of civil society through the combination of two thinkers who are not often combined: G.W.F. Hegel and Michel Foucault. From Hegel, I take the conception of the state’s regulation of civil society to direct the particular interests towards the universal of the state through the police and, especially, the corporation. By incorporating a specific type of civil society, the state attempts to shape a civil society that advances its own interests. From Foucault, I take the conception of civil society as a transactional reality, as well as the conception of neoliberalism as a form of statecraft and the production of subjects. I propose that neoliberalism can be understood as the promotion of the corporate form to all areas of social life. In neoliberalism, the central wealth-producing subject is the corporation, and as a result, the state privileges the corporation by granting it extensive powers, privileges, and exemptions from law. This happens to the detriment of both individual and other collective subjects, making it the primary subject of neoliberal civil society.

Journal: International Journal of Politics, Culture, and Society
Published: August 2020
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Contact CBS researcher: Mathias Hein Jessen

Risikobaseret regulering som tillidsbevarende mekanisme i en uforudsigelig verden – rationaler, dilemmaer og paradokser
Abstract: Den moderne verden er kompleks og dynamisk. Usikkerhed og uforudsigelighed råder, og det stiller store krav til den måde, vi forvalter de samfundsmæssige processer på. For i en usikker verden er tilliden til samfundets centrale institutioner og de systemiske organisationer af endnu større betydning, når vi skal opretholde et velfungerende velfærdssamfund. Alligevel oplever vi en række sager, f.eks. relateret til SKAT, sundhedssektoren og den finansielle sektor, der udfordrer vores indlejrede oplevelse af tillid til systemet. Men hvorfor får vi disse sager, og kan de undgås? En del af svaret ligger muligvis i det paradoks, at vi konsekvent søger at håndtere usikkerhed og uforudsigelighed ud fra strategier og principper, der er rodfæstet i en verdensopfattelse af forudsigelige kausale sammenhænge. Artiklen argumenterer for, at den opfattelse har konsekvenser, fordi årsags-virknings-sammenhænge ofte kendetegnes ved det stik modsatte, nemlig uigennemskuelighed og deraf, uforudsigelighed. Artiklen tager afsæt i paradigmet om risikobaseret regulering og kontrol som eksponent for samfundsmæssige strømninger om rationel kausalitet, der har gjort risikostyring til et dominerende, men også tvetydigt svar på næsten alting. På den baggrund diskuteres 3 centrale udfordringer (strategisk ideologi, motiv- / praktik-kobling og risiko- / usikkerheds-tolkning), som risikobaseret regulering bør adressere for at afstemme intention med modernitetens natur. Den overordnede konklusion er, at ureflekteret tiltro til risikobaseret regulering og kontrol som universel metodik, er en farefyldt vej for samfundskontrakten, fordi paradigmet i praksis ignorerer verdens diskontinuitet og betydningen af samme.

Journal: Samfundslederskab i Skandinavien
Published: 2020
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Contact CBS researcher: Per Henriksen

The Digital Marketing Capabilities Gap.
Abstract: Over the past two decades, digitalization has revolutionized not only consumer marketing but also industrial marketing. Both industrial marketing scholars and industrial marketers seek insights to understand how our knowledge and practice of digital marketing has been structured and configured. To address this gap, we adopt the resource-based perspective as an organizing framework and systematically review 129 articles spanning two decades of research to identify different digital marketing capabilities in industrial firms. From this analysis, we identify four themes: channels, social media, digital relationships, and digital technologies. We then stress-test this knowledge with managerial practices by conducting an online survey of 169 managers, designed to establish the repertoire of current and future marketing capability needs of industrial firms. Herein, we identify two marketing capabilities gaps: the practice gap—which identifies the deficit between managers' ‘current’ practices and their ‘ideal’ digital marketing capabilities; and, the knowledge gap—which demonstrates a significant divide between the digital marketing transformations in industrial firms and the extant scholarly knowledge that underpins this. Based on these results, we build an agenda for future research on digital marketing capabilities.

Journal: Industrial Marketing Management
Published: 2020
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Contact CBS researcher: Robert E. Morgan

Platform Signaling for Generating Platform Content.
Abstract: The generation of platform content is essential for platform growth and competition. However, the overwhelming number of platform complementors makes it impossible for platform operators to engage in extensive communication with each complementor about which content contributions are desired. Therefore, platform operators need to find a way to signal strategic interests to platform complementors. In this paper, we employ a mixed-methods design using data from the geodata platform OpenStreetMap to develop and test two distinct types of platform signals as a means of implementing a platform operator’s strategy: (1) opportunity signals, which aim to stimulate activity in new areas of the platform, and (2) endorsement signals, which aim to increase activity in existing areas of the platform. In particular, we examine how platform signals influence the generation of platform content in terms of the volume and diversity of information on the platform. We contribute important insights to the platform governance literature by developing and empirically testing a signaling perspective on the generation of platform content and discussing its implications for guiding platform complementors in content creation.

Journal: MIS Quarterly
Published: September 2020
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Contact CBS researcher: Philipp Hukal

Positive Developments but Challenges Still Ahead: A Survey Study on UX Professionals’ Work Practices.
Abstract: This paper describes and gives an overview of User Experience (UX) professionals’ work practices—their environment, practices, tools, and challenges. First, we reviewed 32 empirical studies about usability and UX work to identify key issues in usability and UX work practices. For the identified key issues, we collected data from 422 UX professionals surveyed in five different countries using a comprehensive questionnaire with 62 questions. Our results show that UX professionals individually know about usability and UX concepts, methods, and tools. They typically employ between one and five Human Computer Interaction (HCI) theories on average and use one to three different techniques and tools. On the organizational level, UX is involved from early to late stages and is generally well known within all levels of the organization. On the country and community level, UX professionals generally do not report themselves as belonging to a professional community, despite the fact that the survey was administered via channels of the respective communities in the survey countries. Overall, this survey shows that UX professionals have considerable work experience and strong UX expertise self-confidence. This may be considered as indicating a positive development of the UX profession

Journal: Journal of Usabiity Studies (JUS)
Published: 2020
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Contact CBS researcher: Torkil Clemmensen

Governing System Transitions in the Context of Scattered Agency: Flexibility, Action, and Ecologies of Epistemic Equipment
Abstract: Orchestrating change when agency is scattered among many different actors is a salient challenge affecting the governance of societal systems during transitions. Established normative governance approaches emphasize the cultivation of shared understandings among actors as a premise for coordinated transformative action. The aim of this paper is to outline a more nuanced and less integrated conception of the governance work involved in aligning agencies in pursuit of transformative change. First, we argue that attempts to coordinate agencies must account for the fact that most actors relate to societal systems from specific situated positions and through specific situated practices, rather than from abstract perspectives. From this point of departure, we stipulate that coordination practices are shaped by the techniques employed by actors to interpret the complex environments of societal systems as meaningful and actionable. We conceptualize such techniques for making sense of complexities as epistemic equipment. Based on a case study of flexibility governance in the transition to low carbon energy systems in Denmark, we suggest that identifying, intervening, and reshaping entire ecologies of epistemic equipment constitute critical aspects of transformative system governance. These governance activities configure how situated actors make sense of their own roles within systems, which are experienced through practical everyday actions.

Journal: Energy Research & Social Science
Published: 2020
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Contact CBS researcher: Trine Pallesen, Peter H. Jacobsen

Research Directions for Sharing Economy Issues
Abstract:The sharing economy proposes a new approach to designing and delivering products and services, that aims at avoiding waste, improving efficiency, and favoring bottom-up change. In this research commentary, we survey the current state of things and propose some directions for research. We first describe the industries, products, and services currently representing the sharing paradigm, the technology platforms enabling it, the business models driving it, and the regulatory issues. We envisage that promising areas of research should include: (1) devising more efficient algorithms; (2) considering ecological and prosocial objective functions; (3) dealing with regulatory issues; (4) expanding the span of research to cover more geographical areas and a wider set of services; and (5) supporting services with more reliable reputation and recommendation systems.

Journal: Electronic Commerce Research and Applications
Published: 2020
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Contact CBS researcher: Robert J. Kauffman

In Search of a Political Economy of the Postgrowth Era
Abstract: Against the backdrop of the ecological and climate emergencies and several other deep crises, advocates of degrowth call for democratic transitions towards societies that can thrive beyond economic growth within ecological boundaries while being socially equitable. In recent years, scholarship has emerged that brings together the emerging degrowth paradigm with insights from political economy. Yet much contemporary political economy continues to ignore the environment and, by implication, the ecological downsides of economic growth. The present contribution criticizes this state of affairs and highlights the promises of a synthesis of contemporary critical political economy and the growth-critical tradition in ecological economics. It hints at how concepts of one particular strand of critical political economy, namely regulation theory, may be of use in analyses of (trajectories to) the postgrowth era.

Journal: Globalizations
Published: August 2020
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Contact CBS researcher: Hubert Buch-Hansen

Mounting Corporate Innovation Performance: The Effects of High-skilled Migrant Hires and Integration Capacity
Abstract: We adopt an organizational learning approach to examine how firms’ recruitment of high-skilled migrants contributes to subsequent firm-level innovation performance. We argue that due to migrants’ often different experience from that of native high-skilled workers, their perspectives on problem-solving and access to non-overlapping knowledge networks will also differ. The implied complementarity between these worker types makes migrant hires a particularly valuable resource in the context of firm-level innovation. We refine our diversity hypothesis further by predicting that migrant hires who add to the firm's cultural diversity should contribute more to firm innovation performance than new high-skilled migrant hires who do not add cultural diversity. Finally, we conjecture that firms with high integration capacity as a function of prior experience of employing high-skilled migrants should derive more innovation-related benefits from migrant hiring than firms with a low integration capacity. We track the inward mobility of high-skilled workers empirically using patents and matched employer-employee data for 16,241 Dutch firms over an 11-year period. We find support for our hypotheses.

Journal: Research Policy
Published: 2020
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Contact CBS researcher: Keld Laursen

Samfundsforudsætninger - metodemæssige overvejelser
Abstract: Samfundsforudsætningerne gælder nu for både investeringsforeninger og pensionsselskaber og har dermed fået en afgørende betydning som referencegrundlag i forhold til at træffe investeringsbeslutninger. Beregninger i denne artikel tyder imidlertid på, at forholdet mellem afkast og risiko ikke er konsistent, hvilket forringer kvaliteten af beslutningsgrundlaget. Artiklen viser en metode til at sikre en bedre sammenhæng. De metodiske udfordringer aktualiserer behovet for at sikre en hensigtsmæssig governancestruktur med tilhørende modelvalidering i fremtiden

Journal: Finans/Invest
Published: August 2020
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Contact CBS researcher: Niels Lehde Pedersen

Patenting Patterns in Artificial Intelligence: Identifying National and International Breeding Grounds
Abstract: This paper identifies countries at the forefront of Artificial Intelligence (AI) development and proposes two novel patent-based indicators to differentiate structural differences in the patterns of intellectual property (IP) protection observed for AI across countries. In particular, we consider (i) the extent to which countries specialise in AI and are relevant markets for corresponding IP protection (‘National Breeding Ground’); and (ii) the extent to which countries attract AI from abroad for IP protection and extend the protection of their AI-related IP to foreign markets (‘International Breeding Ground’). Our investigation confirms prior findings regarding substantial changes in the technological leadership in AI, besides drastic changes in the relevance of AI techniques over time. Particularly, we find that National and International Breeding Grounds overlap only partially. China and the US can be characterised as dominant National Breeding Grounds. Australia and selected European countries, but primarily the US, are major International Breeding Grounds. We conclude that China promotes AI development with a major focus on IP protection in its domestic market, whereas the US sustains its AI progress in the international context as well. This might indicate a considerable bifurcation in the structural patterns of IP protection in global AI development.

Journal: World Patent Information
Published: September 2020
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Contact CBS researcher: Björn Jindra

Foreign Influence, Control, and Indirect Ownership: Implications for Productivity Spillovers.
Abstract: How does the presence of ‘controlled’ foreign firms affect the productivity of domestic firms in the same industry? We revisit the historical distinction between control and influence by the foreign owner and define ‘controlled’ foreign firms as those with a foreign ultimate owner holding 50% or more of voting shares. Connecting insights from new internalization theory with knowledge-based views of the MNE, we posit that ‘controlled’ foreign firms will generate larger productivity spillovers than non-controlled foreign firms. We use a firm-level panel dataset of 575,844 manufacturing firms (2,343,495 observations) across 20 European countries to test our proposition. We pay careful attention to how firms are categorized as foreign, taking into account both direct and indirect ownership links. Allowing for indirect ownership turns out to be pivotal: there are just as many indirectly controlled foreign firms as foreign firms captured with direct ownership data. We find positive horizontal spillovers from controlled foreign firms and zero spillovers from non-controlled foreign firms. Interestingly, the strongest positive spillovers come from the indirectly controlled foreign firms. The implications of our study extend beyond productivity spillovers to areas such as cross-border M&As, joint ventures, MNE strategies of legitimation, and corporate groups.

Journal: Journal of International Business Studies
Published: July 2020
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Contact CBS researcher: Pascalis Raimondos, Lisbeth la Cour

The Action Structure of Recruitment Calls and Its Analytic Implications: The Case of Disfluencies
Abstract: We describe interviewers' actions in phone calls recruiting sample members. We illustrate (1) analytic challenges of studying how interviewers affect participation and (2) actions that undergird the variables in our models. We examine the impact of the interviewer's disfluencies on whether a sample member accepts or declines the request for an interview as a case study. Disfluencies are potentially important if they communicate the competence or humanity of the interviewer to the sample member in a way that affects the decision to participate. Using the Wisconsin Longitudinal Study, we find that although as they begin, calls that become declinations are similar to those that become acceptances, they soon take different paths. Considering all recruitment actions together, we find that the ratio of disfluencies to words does not predict acceptance of the request for an interview, although the disfluency ratio before the turning point - request to participate or a declination - of the call does. However, after controlling for the number of actions, the disfluency ratio no longer predicts participation. Instead, when we examine actions before and after the first turning point separately, we find that the number of actions has a positive relationship with participation before and a negative relationship after.

Journal: Journal of Official Statistics
Published: September 2020
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Contact CBS researcher: Bo Hee Min

Aktiesparekontoen - en kritik
Abstract: Der foreligger nu ét års erfaringer med aktiesparekontoen. I denne artikel argumenteres for, at aktiesparekontoen bør afskaffes. De to væsentligste argumenter er:
- Den ene af de to hovedbegrundelser for indførelse af ordningen var urealistisk, nemlig at aktiesparekontoen ville hjælpe markedet for børsnoteringer af mindre danske aktieselskaber.
- Den anden af de to hovedbegrundelser for indførelse af ordningen var forkert, nemlig at aktiesparekontoen ville skabe forenkling. Ordningen har netto gjort investering mere kompliceret for banker, skattevæsenet og private investorer.
Aktiesparekontoen bør ses i et bredere perspektiv: De politiske forlig har over årene skabt mange særordninger, typisk omfattende små beløb, som gør det stadigt vanskeligere for befolkningen at forstå systemet. Som yderligere eksempler på ordninger, der med fordel kan fjernes, kan nævnes børneopsparing og aldersopsparing.

Journal: Finans/Invest
Published: August 2020
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Contact CBS researcher: Michael Møller, Claus Parum

Expanding the Concept of Social Impact Bonds.
Abstract: This article elaborates on the emerging concept of social impact bonds (SIB) by investigating the configuration of a SIB in a new empirical setting – Scandinavia. The analysis is based on a single case study of a SIB-development project in Denmark, which constitutes the first attempt to build a social impact bond in the country. The article investigates four elements of the SIB-model: 1) the configuration of roles and responsibilities, 2) service provision, 3) payment structure, and 4) evaluation. The findings show the existence of blurred boundaries between organisational stakeholders within the investigated SIB-programme, indicating a dynamic configuration of roles and responsibilities. Furthermore, both service provision and data collection procedures were conducted in close collaboration with the involved public authorities, implying an interdependent relationship between public authorities and external partners. Thus, the empirical findings indicate a divergence from traditional concepts of social impact bonds – specifically concerning their design and development. Empirical evidence has been collected through interviews, statistical data, and internal documents.

Journal: Journal of Social Entrepreneurship
Published: August 2020
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Contact CBS researcher: Mikkel Munksgaard Andersen

Validating a Theoretical Model of Citizens’ Trust in Tourism Development
Abstract: This research establishes the theoretical link between the development of tourism and citizens' trust. The research is grounded in political economy of state intervention in tourism and draws from social exchange theory to build the theoretical model. The latter incorporates variables such as trust, power, knowledge, and benefits and costs of tourism, which are central to any exchange process between social actors. The model distinguishes and proposes a theoretical relationship between domain specific political trust and generic political trust. The former refers to citizens' trust in local government in the specific context of tourism development while the latter refers to citizens' general level of trust in local government. The model is tested using data collected from residents of the metropolitan area of Naples, Italy. Results suggest that residents’ trust in local government in the specific context of tourism strongly influences their general level of trust, suggesting a spill-over effect of political trust. We demonstrated empirically that political trust in the context of tourism and the general trust in an institution are theoretically distinct concepts. The constructs we used to conceptualize tourism development has distinct influence on the two dimensions of political trust.

Journal: Socio-Economic Planning Sciences
Published: July 2020
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Contact CBS researcher: Robin Nunkoo

Academic Engagement: A Review of the Literature 2011-2019.
Abstract: We provide a systematic review of the literature on academic engagement from 2011 onwards, which was the cut-off year of a previous review article published in Research Policy. Academic engagement refers to knowledge-related interactions of academic scientists with external organisations. It includes activities such as collaborative research with industry, contract research, consulting and informal ties. We consolidate what is known about the individual, organisational and institutional antecedents of academic engagement, and its consequences for research, commercialisation, and society at large. Our results suggest that individual characteristics associated with academic engagement include being scientifically productive, senior, male, locally trained, and commercially experienced. Academic engagement is also socially conditioned by peer effects and disciplinary characteristics. In terms of consequences, academic engagement is positively associated with academics’ subsequent scientific productivity. We propose new areas of investigation where evidence remains inconclusive, including individual life cycle effects, the role of organisational contexts and incentives, cross-national comparisons, and the impact of academic engagement on the quality of subsequent research as well as the educational, commercial and society-wide impact.

Journal: Research Policy
Published: 2021
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Contact CBS researcher: Valentina Tartari

Efter det militante demokrati? Demokratisk selvforsvar i populismens tidsalder.
Abstract: Ifølge fremtrædende kommentatorer kommer den største trussel imod det liberale demokrati i dag ikke fra direkte anti-demokratiske bevægelser, der ønsker at omstyrte det liberal demokrati gennem voldelig revolution,for derefter at etablere en radikal anderledes styreform. I stedet er nutidens liberale demokratier primært truet af den gradvise erodering af demokratiske normer og institutioner foretaget af folkevalgte politiske ledere, der nyder legitimitet fra valghandlingen og hvis gradvise erodering af demokratiske normer kan være svær at øje på. Denne problematik har genvakt en teoretisk og politisk interesse i spørgsmålet om hvorledes demokratiske systemer kan bekæmpe populistiske og semi-autoritære politiske bevægelser, partier og ledere. Den dominerende tilgang til dette spørgsmål har været det såkaldte militante demokrati, første gang formuleret af den tysk-jødiske forfatningsteoretiker Karl Loewenstein i 1937, der baserer sig på at begrænse ekstreme bevægelsers adgang til det politiske system. Denne artikel ønsker at kritisere det militante demokrati både i dets klassiske og nutidige formuleringer, samt tegne konturerne af en alternativ tilgang til demokratisk selvforsvar, der ulig den militante tilgang ikke forsøger at begrænse demokratiet, men at udvide det. Hvor ansvaret for bekæmpelse af politisk ekstremisme i den militante model tilkommer politiske eliter, valgte repræsentanter og uvildige dommere, ligger ansvaret i den alternative model hos borgerne selv.

Journal: Agora
Published: 2020
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Contact CBS researcher: Benjamin Ask Popp-Madsen

Pensionsudbetalinger fra markedsrenteprodukter
Abstract: Denne artikel ser på den usikkerhed, der knytter sig til pensionsudbetalinger fra markedsrenteprodukter for en nyslået pensionist på 66 år. Pensionens størrelse afhænger i særlig grad af selskabernes regneforudsætninger, herunder specielt den renteforudsætning som selskaberne anvender ved beregningen af den årlige udbetaling.
Konklusionen i artiklen er, at det er delvist muligt at optimere pensionsudbetalingen i forhold til samspillet med folkepensionen. Pensionister med en større pensionsopsparing kan med fordel overveje niveauet for investeringsrisikoen, mens pensionister med en privat pensionsudbetaling, der ligger tæt på grænsen for modregning i folkepensionen, bør tilstræbe en nogenlunde konstant real pensionsudbetaling, så folkepensionens tillægsbeløb så vidt muligt udbetales fuldt ud. En overordnet konklusion er også, at lever man længe, kan det vise sig, at pensionen kommer til at afvige en hel del i forhold til, hvad man forventede, da man gik på pension.

Journal: Finans/Invest
Published: August 2020
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Contact CBS researcher: Henrik Ramlau-Hansen

Mitigating Climate Change via Food Consumption and Food Waste: A Systematic Map of Behavioral Interventions
Abstract: Demand-side policies for mitigating climate change based on behavioral insights are gaining increased attention in research and practice. Here we describe a systematic map that catalogues existing research on behaviorally informed interventions targeting changes in consumer food consumption and food waste behavior. The purpose is to gain an overview of research foci and gaps, providing an evidence base for deeper analysis. In terms of food consumption, we focus on animal protein (meat, fish, dairy, and eggs) and its substitutes. The map follows the standards for evidence synthesis from the Collaboration for Environmental Evidence (CEE) as well as the RepOrting Standards for Systematic Evidence Syntheses (ROSES). We identified 49 articles including 56 separate studies, as well as 18 literature reviews. We find a variety of study designs with a focus on canteen and restaurant studies as well as a steep increase of publications since 2016. We create an interactive evidence atlas that plots these studies across geographical space. Here, we find a concentration of research in the Anglo-Saxon world. Most studies follow multi-intervention designs and focus on actual food consumption behavior, fewer on food waste behavior. We identify knowledge clusters amenable for a systematic review focusing on the effectiveness of these interventions, namely: priming, disclosure, defaults, social norms, micro-environment changes, and ease of use. The systematic map highlights knowledge gaps, where more primary research is needed and evidence cannot support policy; it identifies knowledge clusters, where sufficient studies exist but there is a lack of clarity over effectiveness, and so full synthesis can be conducted rapidly; finally, it reveals patterns in research methods that can highlight best practices and issues with methodology that can support the improvement of primary evidence production and mitigation of research waste. To the best of our knowledge, this is the first systematic study mapping this specific area.

Journal: Journal of Cleaner Production
Published: 2020
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Contact CBS researcher: Lucia A. Reisch

Those Who Control the Code Control the Rules: How Different Perspectives of Privacy Are Being Written Into the Code of Blockchain Systems
Abstract: Blockchain systems afford new privacy capabilities. This threatens to create conflict, as different social groups involved in blockchain development often disagree on which capabilities specific systems should enact. This article adopts a boundary object perspective to make sense of disagreements between collaborating social worlds. We perform a case study of privacy attitudes among collaborating actors in Monero, a cryptocurrency community that emphasises privacy and decentralisation alongside a set of values sometimes described as anti-establishment, crypto-anarchist, and/or cypherpunk. The case study performs a series of interviews with users, developers, cryptographic researchers, corporate architects, and government regulators. Three novel and important findings emerge. The first is that none of the social worlds express a desire to monitor routine transactions, despite the obvious business and tax-collection value of such data. The second is that regulators are happy to postpone active involvement, based on the flawed assumption they can impose privacy-related regulation later, once risks have become clear. Such regulation may not be possible as protocols and rulesets currently being coded into the system may be impossible to amend in the future (unless they can obtain either developer or network consensus). The third is that regulators assume methods for overseeing extraordinary transaction are necessary to avoid widespread, near-effortless money laundering. Yet, each of the other social worlds is operating under the assumption that this trade-off has already been accepted. These findings demonstrate subtle power transitions and changes in privacy attitudes that have implications for research on blockchain, management, and boundary objects in general.

Journal: Journal of Information Technology
Published: August 2020
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Contact CBS researcher: Rob Gleasure

European Financial Reporting Enforcement: Analysis of Practices and Indices
Abstract: This paper analyses how financial reporting enforcement varies across 17 Eu-ropean countries and the extent to which enforcement indices used in the existing accounting literature capture this enforcement. Based on survey responses from European enforcement bodies and regulatory specialists, the study finds extensive variations in financial reporting enforcement across the European countries. Fur-thermore, enforcement indices used in the accounting literature do not appear to capture financial reporting enforcement. These findings should be of interest to ESMA and other enforcement bodies as well as for the use of enforcement indices in accounting research.

Journal: Financial Reporting
Published: June 2020
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Contact CBS researcher: Thomas Riise Johansen, Thomas Plenborg

Erhvervslivets adgang til domstolene
Abstract: I Danmark har domstolene altid som udgangspunkt været det sted man søgte til når man som borger eller erhvervsvirksomhed havde en konflikt med andre man ikke selv kunne løse. Forudsætningen for, at dette fremstår som en naturlig og attraktiv mulighed er, at domstolssystemet er indrettet således, at både borgere og erhvervsvirksomheder har adgang til at håndhæve deres rettigheder inden for rimelig tid og på acceptable økonomiske vilkår.
Ifølge en rapport udarbejdet af konsulenthuset Rambøll for Domstolsstyrelsen i 2015 faldt antallet af modtagne almindelige civile sager ved byretterne fra 67.624 til 45.978 sager mellem 2010 og 2014; et gennemsnitligt årligt fald på 9,2%. Rambølls undersøgelser viser, at det især er sager med en sagsværdi i intervallet 50.001 til 500.000 kr., der er faldet markant. Både Rambølls og Justitias egne undersøgelser synes at vise, at erhvervsvirksomheder i høj grad fravælger at anvende domstolene, fordi systemet er for langsomt og for dyrt. Det fremgår af Rambøllrapporten og Justitias egne undersøgelser og de input fra erhvervslivet, som Justitia har indhentet til brug for analysen viser, at de sagsomkostninger den vindende part i en retssag får tilkendt alene svarer til ca. 1/3 af dennes faktiske omkostninger ved at føre sagen. Oven i dette kommer så, at domstolenes sagsbehandlingstider i almindelige civile sager, fortsat forekommer alt for lange for virksomhederne.
I analysen “Erhvervslivets adgang til domstolene” har Justitia analyseret og vurderet, hvorvidt de danske erhvervsvirksomheders retssikkerhed i tilstrækkeligt omfang tilgodeses i de regler og den praksis, der er gældende for behandlingen af civile sager ved domstolene.

Journal: Revision & Regnskabsvæsen
Published: 2020
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Contact CBS researcher: Henrik Rothe

Variable Selection with Group Structure: Exiting Employment at Retirement Age—A Competing Risks Quantile Regression Analysis
Abstract: We consider the exit routes of older employees out of employment around retirement age. Our administrative data cover weekly information about the Danish population from 2004 to 2016 and 397 variables from 16 linked administrative registers. We use a flexible dependent competing risks quantile regression model to identify how early and late retirement transitions are related to the information in various registers. Our model selection is guided by machine learning methods, in particular statistical regularization. We use the (adaptive) group bridge to identify the relevant administrative registers and variables in heterogeneous and high-dimensional data, while maintaining the oracle property. By applying state-of-the-art statistical methods, we obtain detailed insights into conditional distributions of transition times into the main pension programs in Denmark.

Journal: Empirical Economics
Published: August 2020
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Contact CBS researcher: Shuolin Shi, Ralf Wilke

What Can Socratic Philosophy Achieve? Plato’s Conception of Care in the Light of Christine Korsgaard’s Self-constitution
Abstract: Can rational arguments convince a person to change from a commitment to living an unvirtuous life into striving after virtue? Or can rationality, even in the best cases, only help preserve an already existing commitment to virtue? Our paper throws light on this question through a discussion of the form of care for the self that Plato thinks is practiced through the engagement in Socratic philosophy, the practice of giving and asking for reasons. First, the Platonic conception of the soul as the object of care is described. Secondly, we consider what care of the soul is meant to accomplish. Thirdly, we consider the pedagogical role that can be attributed to Socratic philosophy in stimulating such care. This is discussed through a critical analysis of Christine Korsgaard’s interpretation of Plato which we draw upon in our previous reconstruction. The conclusion is that the engagement in rational discourse can at best function as a way of preserving the virtue of already virtuous souls, and not as a way of transforming the unvirtuous by rationally motivating them to pursue virtue for its own sake.

Journal: International Journal of Philosophy and Theology
Published: May 2020
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Contact CBS researcher: Morten Sørensen Thaning

Disentangling the Impact of Omni Channel Integration on Consumer Behavior in Integrated Sales Channels
Abstract: “Brick-and-mortar” retailers, when expanding their businesses to online channels, can either add a separate online channel or integrate channels to enhance service offerings. Although past studies on channel choice have yielded insights into factors affecting consumers’ channel preference, there is a dearth of research that sheds light on when and why massive investments into channel integration would be preferred over online optimizations. To this end, we construct and validate a theoretical model that posits omni channel integration services for acquisition and recovery as predictors of consumers’ online channel preference through influencing their perceptions of convenience and risk. Our experimental study reveals how distinct configurations of cross-channel service offerings affect consumers’ channel evaluations and decisions, as well as how complementarities from channel integration across transaction and post-transaction phases can prevail over pure online substitutes. Consequently, this study bridges diagnostic and prescriptive research streams on multichannel and omni channel retail by attesting to channel integration as a viable channel differentiator. From a practical stand point, we compare 12 distinct channel configurations with regard to consumers’ core evaluative criteria and highlight the value of omni channel integration since efficiency improvements to the online channel can only serve as a partial substitute to channel integration.

Journal: MIS Quarterly
Published: September 2020
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Contact CBS researcher: Chee-Wee Tan

On the Origins of Entrepreneurship: Evidence from Sibling Correlations
Abstract: Despite the consensus that entrepreneurship runs in the family, we lack evidence regarding the total importance of family and community background, as well as the relative importance of different background influences that affect entrepreneurship. We draw on human capital formation theories to argue that families and communities provide a salient context for the development of individual entrepreneurial skills and preferences, beyond the existing focus on parental entrepreneurship. We posit that early influences are more important than later influences and propose a hierarchy of family influences, whereby genes have the largest explanatory power, followed by parental entrepreneurship, neighborhoods, and parental resources, and finally by parental immigration, family structure, and sibling peers. Finally, we argue that the higher human and financial capital intensity of incorporated relative to unincorporated entrepreneurship predictably alters the hierarchy of family influences, as does gender. Sibling correlations estimated on Swedish register data confirm our hypotheses.

Journal: Journal of Business Venturing
Published: March 2020
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Contact CBS researcher: Mirjam Van Praag

When Ambiguity Rules: The Emergence of Adaptive Governance from (In)Congruent Frames of Knowledge Sharing Technology
Abstract: As increasingly diverse stakeholders engage in technology-mediated knowledge sharing, the establishment of appropriate forms of governance becomes a challenge. Existing research highlights that successful governance is a result of congruence between different stakeholders’ views and uses of technology, but the way suitable governance can emerge in the presence of incongruent or ambiguous framings of technology is still unclear. In this article, we present a case study of a collaboration between government, industry and university stakeholders, where the social media platform WeChat is used for knowledge sharing. Using the theoretical lens of the technological frames of reference (TFR), we investigate how views and uses of technology among different stakeholders shape the emergence of governance arrangements. We find that patterns of congruence and incongruence in the stakeholders’ framings of technology for knowledge sharing lead to emergent adaptive governance practices, which are characterized by selective participation, role and capability identification, and ad-hoc decision-making.

Journal: Information Systems Frontiers
Published: August 2020
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Contact CBS researcher: Rony Medaglia, Tina Blegind Jensen

Powered by “Qinghuai”: The Melding of Traditional Values and Digital Entrepreneurship in Contemporary China
Abstract: Based on three case studies of Chinese Internet start‐ups, this study seeks to address the research question: “How is digital entrepreneurship enacted in China?” Our findings reveal that there was a common theme that underpinned the start‐ups we studied, which we termed ‘Qinghuai’ in the language of the informants we spoke with. In this paper, we explain the roots of the concept and its six constituent elements at the individual, organizational, and ecosystem levels. These elements are then abstracted into two dimensions: (a) spiritual idealism and (b) perpetual development. We argue that Qinghuai as a concept is a product and reflection of the cultural and institutional complexity of contemporary China. Further, we discuss how Qinghuai facilitates digital entrepreneurship across the business, organizational, and technological domains. This explanation is substantiated by data from our three cases and juxtaposed with what has been discussed in the existing digital entrepreneurship literature. Finally, as we present the contributions of our study, we elaborate on (a) how Qinghuai reflects the contemporary context of China; (b) how Qinghuai is instrumental to digital entrepreneurship in China; and (c) how Qinghuai is different from other related concepts including Guanxi, collectivism, collective action and social entrepreneurship. We conclude the paper by discussing its limitations, future research opportunities, as well as its practical implications.

Journal: Information Systems Journal
Published: July 2020
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Contact CBS researcher: Xiao Xiao

Sidst opdateret: Sekretariat for Ledelse og Kommunikation // 05/10/2020