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Journal Article

Art lessons for the global manager

Business Strategy Review 20 (1): 50–57
Jamie Anderson, Martin Kupp, Jörg Reckhenrich (2009)
Subject(s)
Strategy and general management
Keyword(s)
innovation, competitive strategy, globalization
Globalization has been seen as both a threat and an opportunity whenever it has occurred. Jamie Anderson, Martin Kupp and Jörg Reckhenrich give us an artists' perspective on managing in a global business world.
© 2009 The Author Journal compilation © 2009 London Business School
Volume
20
Journal Pages
50–57
Journal Article

The credit rating process and estimation of transition probabilities: A Bayesian approach

Journal of Empirical Finance 16 (2): 216–234
Catalina Stefanescu, Radu Tunaru, Stuart Turnbull (2009)
Subject(s)
Management sciences, decision sciences and quantitative methods
Keyword(s)
ratings transitions, Bayesian inference, latent factors, Markov Chain, Monte Carlo
JEL Code(s)
G21, G28, G32, C11, C13, C52
The Basel II Accord requires banks to establish rigorous statistical procedures for the estimation and validation of default and ratings transition probabilities. This raises great technical challenges when sufficient default data are not available, as is the case for low default portfolios. We develop a new model that describes the typical internal credit rating process used by banks. The model captures patterns of obligor heterogeneity and ratings migration dependence through unobserved systematic macroeconomic shocks. We describe a Bayesian hierarchical framework for model calibration from historical rating transition data, and show how the predictive performance of the model can be assessed, even with sparse event data. Finally, we analyze a rating transition data set from Standard and Poor's during 1981-2007. Our results have implications for the current Basel II policy debate on the magnitude of default probabilities assigned to low risk assets.
With permission of Elsevier
Volume
16
Journal Pages
216–234
Journal Article

The economics of organizing economists

Antitrust Law Journal 76 (2): 569–584
Luke M. Froeb, Paul A. Pautler, Lars-Hendrik Röller (2009)
Subject(s)
Economics, politics and business environment
Keyword(s)
decision making, functional organization
Volume
76
Journal Pages
569–584
Journal Article

Usage and diffusion of cellular telephony, 1998-2004

International Journal of Industrial Organization 27 (2): 238–249
Michał Grajek, Tobias Kretschmer (2009)
Subject(s)
Strategy and general management
Keyword(s)
cellular telephony, diffusion, usage intensity, network effects, consumer heterogeneity, fixed-mobile substitution
JEL Code(s)
L1, L52, O38
We study the dynamics of usage intensity of second-generation cellular telephony over the diffusion curve. Specifically, we address two questions: First, can we draw conclusions about the underlying drivers of technology diffusion by studying usage intensity? Second, what is the effect of high penetration of previous generations and competing networks on network usage intensity? Using an operator-level panel covering 41 countries with quarterly data over 6 years, we find that heterogeneity among adopters dominates network effects and that different technological generations are complements in terms of usage, but substitutes in terms of subscription.
With permission of Elsevier
Volume
27
Journal Pages
238–249
Book Chapter

Managing mergers and acquisitions

In The global business handbook: The eight dimensions of international management, edited by David Newlands, Mark J. Hooper, 123–132. Aldershot: Gower.
Subject(s)
Strategy and general management
Keyword(s)
strategic management, mergers and acquisitions
JEL Code(s)
G34, M10
Secondary Title
The global business handbook: The eight dimensions of international management
Pages
123–132
ISBN
978 0 566 08747 9
Journal Article

Corporate Governance und Internationale Kapitalmärkte

Zeitschrift für betriebswirtschaftliche Forschung (ZfbF) 61 (February): 114–123
Subject(s)
Economics, politics and business environment; Finance, accounting and corporate governance
Volume
61
Journal Pages
114–123
ISSN (Online)
2366–6153
ISSN (Print)
0341–2687
Journal Article

Counteractive self-control: When making temptation available makes temptation less tempting

Psychological Science 20 (2): 159–163
Kristian Ove R. Myrseth, Ayelet Fishbach, Yaacov Trope (2009)
Subject(s)
Management sciences, decision sciences and quantitative methods
Keyword(s)
self-regulation, self-control, goals, temptation
Volume
20
Journal Pages
159–163
ESMT White Paper

How and why MBAs buy an MBA

ESMT White Paper No. WP-109-02
Mario Rese, Annika Wilke, Bülent Gögdün (2009)
Subject(s)
Marketing
Keyword(s)
MBA marketing, business school, MBA program, full-time MBA, executive MBA, part-time MBA, distance MBA, reasons for starting an MBA, business school selection, information sources, quality indicators, number of applications, ranking, accreditation
JEL Code(s)
M31
The purpose of this paper is to deepen our understanding of the MBA market. Our focus lies hereby on the customers, that is, on people who are interested in attending an MBA program and who are courted relentlessly by business schools. The paper analyzes why people do an MBA and how they select their favorite business schools and MBA programs. We particularly try to understand the differences between various groups of applicants based on gender, length of work experience, level of GMAT score, type of study, and nationality. The paper shows that different segments of applicants start an MBA for different reasons and display different preferences with respect to school selection, use of information sources as well as decision-making. We hope that the insights will help business schools make their marketing approaches even more effective.
Pages
66
ISSN (Print)
1866–4016
Journal Article

Золотая середина - Путь к успеху в России [Creating synergies for leading: Three key success factors for western expatriates in Russia]

Harvard Business Review Russia February: 58–68
Franziska Frank, Ekaterina Kasbuskaya-Kimelainen, Marion Festing, Martina Maletzky (2009)
Subject(s)
Human resources management/organizational behavior
Keyword(s)
cross-cultural, leadership, Russia, expatriates
Expatriates who go to Russia encounter issues that need to be solved by adapting their leadership style. The article explores the key issues and what routes are successful in tackling them.
Journal Pages
58–68
ESMT Case Study

George Martin

ESMT Case Study No. ESMT-709-0090-1
Subject(s)
Ethics and social responsibility
Keyword(s)
ethics, financial crisis, toxic products, general management, responsible leadership
This short (1 page) case describes 38 year-old George Martin, who is having second thoughts about the possible 'toxic' effects of video games - the main business of the division where he is currently CFO. His concern is focused on violent video games in particular, and the widespread concern that they are easily accessible to children of all ages, some of whom may be influenceable by what they see. Apparently George may soon be offered an opportunity to take over as General Manager of the division, and on an evening out with two friends from 'B'-school days (one with responsibility for a sport utility vehicle automobile line, and the other working for a leading tobacco brand) they discuss the recent financial crisis and the 'toxic' products which triggered it. A conversation in a bar raises the question about the toxicity of their own businesses, and implicitly the issue of their own responsibility as executives, relative to that of the consumer who buys the product, or government who might provide oversight and regulation.
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