BI Research Centre's Series: Recent submissions
Now showing items 201-220 of 329
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The Dual-Agency Problem Reconsidered: A Strategic Deviance Perspective on the Franchise Form of Organizing
(CCGR Working Paper;1/2010, Working paper, 2010)Drawing on various theoretical streams, including organizational deviance, we propose that a franchisor cannot assess and control opportunism without comparative information from plural form contractual arrangements provided ... -
Initial Public Offering or Initial Private Placement?
(CCGR Working Paper;4/2011, Working paper, 2011)This paper studies the choice between an auction and a negotiation when selling a large fraction of a company. Using detailed data on ownership structure in 123 public offerings and 88 negotiated private placements, we ... -
When Does Cash Matter?
(CCGR Working Paper;6/2011, Working paper, 2011)We examine the association between a firm’s cash holdings and its performance. Using a large sample of private companies, we find that the importance of cash for a firm’s performance varies substantially with its size ... -
The marginal value of cash, cash flow sensitivities and bank-finance shocks in nonlisted firms
(CCGR Working Paper;1/2011, Working paper, 2011)We study how nonlisted firms trade off financial, real, and distributive uses of cash. We show that firms' marginal value of cash (MVC) affects the mix of external and internal finance used to absorb fluctuations in cash ... -
Earnings Management Priorities of Private Family Firms
(CCGR Working Paper;3/2010, Working paper, 2010)We compare earnings management priorities of private family and private non-family firms. Our study is made possible by the availability of a new and unique database on family relationships between CEOs, board members and ... -
Using Brokerage Commissions to Secure IPO Allocations
(CCGR Working Paper;4/2010, Working paper, 2010)Using data, at the investor level, on the allocations of shares in initial public offerings (IPOs), we document a strong positive relationship between the amount of stock-trading commission and the number of shares an ... -
"Just Google it": Forecasting Norwegian unemployment figures with web queries
(CREAM Publications;11/2010, Working paper, 2010)This thesis explores whether online search queries, represented by Google search queries, contain information useful in forecasting short term unemployment figures in Norway or not. Based on earlier work utilizing online ... -
Competition with local network externalities
(CREAM Publications;10/2010, Working paper, 2010)Local network externalities are present when the utility of buying from a firm not only depends on the number of other customers (global network externalities), but also on their identity and / or characteristics. We ... -
Ongoing quest for QWERTY
(CREAM Publications;1/2012, Working paper, 2012)First, we replicate the remarkable result of Hossain & Morgan (AER 2009), in which subjects in an experimental market tip almost perfectly to the superior platform even if an inferior platform enjoys initial monopoly. Next, ... -
The economic impacts of compatibility standards: The case of Office Open XML
(CREAM Publications;8/2010, Working paper, 2010) -
Efficient Exclusion
(CREAM Publications; 9/2010, Working paper, 2010)In their influential paper, Aghion and Bolton (1987) argue that a buyer and a seller may agree on high liquidation damages in order to extract rents from future suppliers. As this may distort future trade, it may be socially ... -
The R&D of Norwegian Firms: an Empirical Analysis
(CREAM Publications;5/2010, Working paper, 2010)This thesis aims at investigating the determinants and the effects of R&D investments in a panel data of Norwegian medium and large firms from year 1995 to 2005. There is evidence of cash constraints in the R&D expenditures, ... -
Konkurranse for innovasjon
(CREAM Publications;2/2010, Working paper, 2010)Konkurransepolitikkens målsetning er å legge til rette for velfungerende konkurranse i markedene for på den måten å bidra til effektiv bruk av samfunnets ressurser. Samfunnsøkonomisk effektivitet vedrører optimal utnyttelse ... -
R&D and productivity: A firm level investigation of the Norwegian manufacturing industry
(CREAM Publications;6/2010, Working paper, 2010)For centuries researchers have grappled with the question: What drives technological progress which in turn powers the all important aggregated growth of the economy? We argue that this question is interesting because it ... -
Entrepreneurship: Origins and Returns
(CREAM Publications;7/2010, Working paper, 2010)We examine the origins and outcome of entrepreneurship on the basis of exceptionally comprehensive Norwegian matched worker-firm-owner data. In contrast to most existing studies, our notion of entrepreneurship not only ... -
Regulering av fjernvarme
(CREAM Publications;3/2010, Working paper, 2010)I denne rapporten vurderer vi reguleringer av fjernvarmesektoren i Norge. Utgangspunktet for analysen er hensynet til en samfunnsøkonomisk effektiv energiforsyning. Prinsippene for effektive investeringer i energiinfra ... -
Borgerlønn: en samfunnsøkonomisk analyse
(CREAM Publications;4/2010, Working paper, 2010)Borgerlønn har hatt en rekke talsmenn blant filosofer, samfunnsvitere og politikere, som med ulike begrunnelser og politisk ståsted har tatt til orde for ordninger som skal sikre alle en viss minsteinntekt. I alle ... -
Incentives in Competitive Search
(CREAM Publications;1/2010, Working paper, 2010)This paper proposes a labor market model with job search frictions where workers have private information on match quality and e¤ort. Firms use wage contracts to motivate workers. In addition, wages are also used to ... -
Does forecast combination improve Norges Bank inflation forecasts?
(CAMAR Working Paper Series;2/2010, Working paper, 2010)We develop a system that provides model-based forecasts for inflation in Norway. We recursively evaluate quasi out-of-sample forecasts from a large suite of models from 1999 to 2009. The performance of the models are then ... -
House prices and stock prices: Different roles in the U.S. monetary transmission mechanism
(CAMP Working Paper Series;1/2012, Working paper, 2012)We analyze the role of house and stock prices in the monetary policy transmission mechanism in the U.S. using a structural VAR model. The VAR is identifed using a combination of short-run and long-run (neutrality) ...