BI Open (Norwegian Business School)
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Cross-section Bootstrap for CCE regressions
Get PDFThe Common Correlated Effects (CCE) methodology is now well established for the analysis of factor-augmented panel data models. Yet, it is often neglected that the pooled variant is biased unless the cross-section dimension ( ) of the dataset dominates the time series length ( ). This is problematic for inference with typical macroeconomic datasets, where is often equal or larger than . In response, we establish in this paper the theoretical foundation of the cross-section (CS) bootstrap for inference with CCE estimators in large and panels with . This resampling scheme is often used to estimate standard errors, yet without theoretical justification, and with unused potential, as we show it also provides a solution to the bias problem. We derive conditions under which the scheme replicates the distribution of the CCE estimators, such that bias can be eliminated and asymptotically valid inference can ensue. In so doing, we also spend attention to the case where factors need not be common across the dependent and explanatory variables, or when slopes are heterogeneous. Since we find that the CS-bootstrap applies in each case, researchers can stay agnostic on these issues. Simulation experiments show that the asymptotic properties also translate well to finite samples.publishedVersio
Correlates of climate change skepticism
Get PDFWhile much research has examined the correlates of climate change beliefs from an alarmist perspective, less work has systematically measured climate change skepticism. This study aims to create a comprehensive tool capturing climate skeptics’ beliefs and test its association with individual difference variables. 502 European adults completed a 22-item questionnaire on climate change (CC) skepticism as well as measures of ambiguity tolerance, belief in a just world (BJW), dark-side personality traits, and self-esteem. Principal components analysis revealed a four dimension structure of CC. Political ideology was the most consistent and significant predictor across the climate change skepticism factors. Dark-side traits, also played a role. Future research should further validate this measure and explore how climate change information could be tailored to different audiences. Understanding the nuances and causes of climate skepticism can enable more effective communication to promote sustainability.publishedVersio
Stakeholders’ views of online surveillance capabilities: a comparative analysis of the debates in UK, Finland and Norway
Get PDFWe examine how stakeholders (n = 74) in the United Kingdom, Finland and Norway perceive security authorities’ online surveillance capabilities, and how these perceptions form patterns transcending national borders and organisational boundaries. Using a Q-methodological approach, we found variation within and between nations that is usually obscured in the polarised public debates. Furthermore, our stakeholders presented areas of consensus not usually apparent in public discourses. We argue for using awareness of this nuance and areas of convergence as platforms on which to build more effective public debates to further principles of deliberative democracy.publishedVersio
Influence of Physical Attractiveness and Gender on Patient Preferences in Digital Doctor Consultations: Experimental Study
Get PDFBackground: The rise of digital health services, particularly digital doctor consultations, has created a new paradigm in health care choice. While patients traditionally rely on digital reviews or referrals to select health care providers, the digital context often lacks such information, leading to reliance on visual cues such as profile pictures. Previous research has explored the impact of physical attractiveness in general service settings but is scant in the context of digital health care. Objective: This study aims to fill the research gap by investigating how a health care provider’s physical attractiveness influences patient preferences in a digital consultation setting. We also examine the moderating effects of disease severity and the availability of information on health care providers’ qualifications. The study uses signal theory and the sexual attribution bias framework to understand these dynamics. Methods: Three experimental studies were conducted to examine the influence of health care providers’ physical attractiveness and gender on patient preferences in digital consultations. Study 1 (n=282) used a 2×2 between-subjects factorial design, manipulating doctor attractiveness and gender. Study 2 (n=158) focused on women doctors and manipulated disease severity and participant gender. Study 3 (n=150) replicated study 2 but added information about the providers’ abilities. Results: This research found that patients tend to choose attractive doctors of the opposite gender but are less likely to choose attractive doctors of the same gender. In addition, our studies revealed that such an effect is more prominent when the disease severity is high. Furthermore, the influence of gender stereotypes is mitigated in both the high and low disease severity conditions when service providers’ qualification information is present. Conclusions: This research contributes to the literature on medical information systems research and sheds light on what information should be displayed on digital doctor consultation platforms. To counteract stereotype-based attractiveness biases, health care platforms should consider providing comprehensive qualification information alongside profile pictures.publishedVersio
Unraveling the anchoring effect of crisis communication in cyberattack spillover crises
Get PDFA spillover crisis arises when an external organization’s events create worry, ambiguity, or unfavorable perceptions for another organization. The study shows that organizational response strategies for spillover crises are influenced by an anchoring effect, where competitors’ level of accommodation in their crisis response serves as an anchor point. The difference between accommodative and advocative crisis responses becomes more pronounced when the anchor response has a lower level of accommodation. Additionally, stakeholders’ confidence in an organization’s ability to manage crises can predict its reputation during spillover crises. If an organization chooses to respond with advocacy, it may experience a decline in reputation compared to adopting a competitor's accommodative anchor response due to decreased stakeholder confidence. Conversely, using an accommodative response can result in a higher organizational reputation than following a competitor’s advocative anchor response since it boosts stakeholder confidence. The study highlights the importance of considering situational factors such as competitor responses in the contingency theory of accommodation. Additionally, this study provides evidence that a continuum of public response confidence could be another valuable tool for understanding how crises impact reputation.publishedVersio
The Importance of Unemployment Risk for Individual Savings
Get PDFIn this paper, we use a novel natural experiment and Norwegian tax data to quantify the causal impact of unemployment risk on individual savings. By comparing individuals who live in the same area but face different increases in risk, we show that a one-percentage-point increase in unemployment rates increases safe assets by 1.3%. Reas- suringly, this effect is driven by low-tenured workers, who face the highest increase in risk. Savings in risky financial assets remain unaffected, implying a decrease in the overall risky share of individual portfolios. We use two independent approaches, relying either on cross-sectional variation or time series variation, to quantify the importance of job loss risk in accounting for higher savings during recessions. Our results suggest that unemploy- ment risk can explain 60%–80% of the recession-induced increase in safe assetsacceptedVersio
Investigating and Prosecuting White-Collar and Corporate Crime: Challenges and Barriers for National Police Agencies
Get PDFMany countries have established national authorities to investigate and prosecute serious and complex white-collar and corporate crime incidents. This article reviews research literature regarding external challenges and barriers for national agencies in Norway (Økokrim), New Zealand (SFO), the United Kingdom (SFO), and the Netherlands (OSF). The policing study in this article is important as it illustrates dilemmas that governments need to address when reviewing their national fraud offices and economic crime authorities. While Økokrim in Norway seems reluctant to prosecute too complex economic crime cases, the SFO in New Zealand attempts prevention of deinstitutionalization, the SFO in the UK might have deterrence effects, while the OSF in the Netherlands is challenged by the private industry of corporate investigators. These are some of the challenges and barriers facing national authorities that are charged with the tasks of investigating and prosecuting white-collar and corporate crime at the national level. The identified challenges and barriers especially related to the convenience theory perspective should enable future research to identify relevant actions.publishedVersio
PhD studies hurt mental health, but less than previously feared
Get PDFWe study the mental health of PhD students in Sweden using comprehensive administrative data on prescriptions, specialist care visits, hospitalizations, and causes of death. We find that about 7 % (5 %) of PhD students receive medication or diagnosis for depression (anxiety) in a given year. These prevalence rates are less than one-third of the earlier reported survey-based estimates, and even after adjusting for difference in methodology, 43 % (72 %) of the rates in the literature. Nevertheless, PhD students still fare worse than their peers not pursuing graduate studies. Our difference-in-differences research design attributes all of this health disadvantage to the time in the PhD program. This deterioration suggests doctoral studies causally affect mental healthpublishedVersio
Regulatory Capital Management to Exceed Thresholds
Get PDFWe investigate whether a carrot approach, which provides benefits for regulatory compliance rather than penalties for noncompliance, incentivizes banks to reach capital levels above the minimum requirements. We document a significant discontinuity at the 10% regulatory capital threshold, where banks receive benefits for exceeding it. Banks exceed it to pay lower deposit insurance fees, access brokered deposits, and expanded financial activities. Banks often rely on equity to reach this threshold while using accounting discretion primarily when facing small capital shortfalls. Our findings suggest the carrot approach can effectively increase banks' capital positions. However, we find that using accounting discretion to exceed the threshold hurts bank stability.publishedVersio
Seasoned Equity Offerings and Earnings Management
Get PDFMasteroppgave(MSc) in Master of Science in Business, Accounting and Business Control - Handelshøyskolen BI, 2024The relationship between earnings management and seasoned equity offerings (SEO) is a topic which have generated interest from scholars. However, there has been limited research focusing on the connection between earnings management and SEOs in the post-Sarbanes-Oxley Act (SOX) period. Our study aims to contribute to the existing literature by examining the relationship between real and accrual-based earnings management around SEOs in the post-SOX era. Contrary to previous findings, our results indicate no evidence of real earnings management. While we observe a slight increase in discretionary accruals in the years leading up to the issuance, this increase is not statistically significant. We also do not find a statistically significant post-issue decrease. Our findings on the effect of earnings management on post-issue valuation indicate no statistically significant negative relation