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Unlocking Shark Tank: Predicting pitch outcomes using a multimodal approach
Get PDFMasteroppgave(MSc) in Master of Science in Business Analytics, Handelshøyskolen BI, 2024Acquiring funding for a startup venture is a critical yet challenging endeavor. Funding success often hinges on effectively pitching a business idea to potential investors. Understanding the multimodal cues influencing investment decision-making can significantly enhance entrepreneurs’ persuasive skills and provide valuable insights for investors and entrepreneurs. Previous research on predicting investment decisions in entrepreneurial pitches has primarily focused on unimodal behavioral cues, emphasizing vocal features. To address this gap, this study combines visual, verbal, and vocal cues with a unique emphasis on body language to predict pitch outcomes. By implementing a robust feature extraction framework for video data and utilizing interpretable machine learning models, this research aims to further enhance the understanding of investor decision-making processes. Our findings indicate that a multimodal approach outperforms unimodal methods in predicting pitch success, underscoring the importance of the interplay between all modalities in achieving successful pitches. Displaying a positive facial expression, using a high level of gestures, and maintaining low variation in vocal pitch have the greatest impact on the likelihood of securing a deal. The best-performing multimodal model achieved an accuracy of 62.8% and an F1 score of 0.77.
All code and data used in this thesis are available in this GitHub repository
Transitory Income Windfalls and Charitable Giving: Evidence from Norwegian Register Data, 1993-2021
Get PDFThis paper studies the impact of unearned, transitory income shocks on charitable giving using Norwegian administrative data. We exploit the random timing and size of lottery wins and our long time period (1993 2021) to estimate both short- and longer-term impacts. We find no meaningful effect of small windfalls. Yet, windfalls exceeding $10,000 induce a long-lasting increase in the likelihood to donate, the absolute level of donations and the share of annual income donated (conditional on donating). We show that this is consistent with individuals thinking of large transitory income shocks as a long-term addition to their annual incomeacceptedVersio
PREDICT THE SUCCESS OF CLEAN ENERGY STARTUPS USING A MACHINE LEARNING APPROACH
Get PDFMasteroppgave (MSc) in Master of Science in Entrepreneurship and Innovation - Handelshøyskolen BI, 2024This thesis, conducted within the Master of Science program in Entrepreneurship and Innovation at BI Norwegian Business School, explores the application of machine learning, specifically the Extreme Gradient Boosting (XGBoost) algorithm, in predicting the success of clean energy startups. This study is driven by the pressing global need to meet 'net zero' emissions targets by 2050, emphasizing the crucial role of innovative clean energy solutions.
Central to this thesis is the research question: "Using a machine learning model, can founders and investors focus on specific factors to ensure the success of clean energy startups?" This is supported by two sub-questions that guide the methodology and findings. First, "How well can a machine learning model predict clean energy startups' success?" Here, the XGBoost model exhibits robust predictive performance, accurately identifying types of companies within the dataset—71% for Mergers and Acquisitions, 82% for Initial Public Offerings, 76% for Failures, and 93% for Remain Private. Second, "Can founders and investors focus on specific factors to ensure the success of clean energy startups?" In response, SHapley Additive exPlanations (SHAP) values provide detailed insights on two levels: global and local. Globally, SHAP values identify critical factors influencing the success across the sector, such as the presence of former and active investors, and the growth rates of social media sites. Locally, SHAP values offer nuanced insights into individual startup scenarios, enabling tailored strategic approaches.
By applying an advanced machine learning technique alongside strategic business analysis, this thesis aims to contribute to the sustainable energy discourse, suggesting potential frameworks that could enhance the viability and success of clean energy startups
Formuesskatt på kapitalbeholdning og exit-skatten ved utflytting av en personlig skattyter
Get PDFMasteroppgave(MSc) i Master of Science i Forretningsjus og økonomi - Handelshøyskolen BI, 2024Masteroppgavens tematikk er formuesskatten på kapitalbeholdning til Norge, og exit-skattekrav ved utflytting av en personlig skattyter. Gjennom regelverket kommer det klart frem hvor omfattende formuesskatten på kapitalbeholdning, og den totale eierbeskatningen er for personlige skattytere til Norge. Slik det er lagt frem i masteroppgaven, er skattleggingen en tydelig rettslige årsak til at flere formuende personer velger å flytte til land med klart bedre skattevilkår. Med bakgrunn i denne kunnskapen er det sett på regelverket knyttet til opphør av skatteplikten til landet, og rettslige følger av å flytte til et annet land som en tidligere skattepliktig til Norge.
I denne oppgave vil jeg mer konkret beskrive og analysere formuesskatten på kapitalbeholdning etter norsk internrett, og redegjøre for det rettslige grunnlaget knyttet til å unngå en norsk beskatning ved utflytting.
I masteroppgaven foreligger det interessante funn. Dette omfatter blant annet at en personlig skattyter må oppfylle en rekke vilkår ved utflytting, for å rettslig sett unnslippe en skattepliktig av inntekt og formue til Norge. Slikt vil være en omfattende prosess, og fordrer at personlig skattyter gjør opphør av sin tilknytning til landet. Videre, kommer det klart frem gjennom drøftelsen at en personlig skattyter med formuesverdier, i de fleste tilfeller, ikke helt kan fjerne seg fra skattlegging til Norge. Dette av den grunn at det foreligger begrensninger med både kildeskatt og exit-skattekrav til staten ved en utflytting. Selv om exit-skattlegging blir sett på som en rettslig konsekvens ved en utflytting fra Norge, vil en fordel med regelverket være at skattytere kan utsette innbetalingen av skattekravet. Etter gjeldende regler vil utsettelsen gjelde frem til en realisasjon av den skattepliktiges aksjer er gjennomført. Med et nytt høringsnotat fra Finansdepartementet er det fremmet et ønske om å sette en maksgrense for antall år som denne betalingsutsettelsen skal gjelde for. Det er gjennom denne masteroppgaven – etter gjeldende EU-rett, blitt konkludert med at lovendringsforslaget ikke helt er i tråd med EU-retten. Slikt tyder på at lovforslaget nok ikke fremover vil bli vedtatt som gjeldende norsk internrett
Small Moves for Strong Bonds: Rethinking Stakeholder Engagement Practices in Renewable Energy Projects
Get PDFMasteroppgave(MSc) in Master of Science in Business, Leadership and Change - Handelshøyskolen BI, 2024This research investigates how the project leaders of Småkraft, Europe's biggest small-scale hydropower producer, build and maintain positive relationships with stakeholders in renewable energy projects. Through twelve in-depth interviews with project leaders from Småkraft, the study uncovered four key relational practices that contribute largely to their successful stakeholder engagement. By meeting stakeholders at their home ground, reducing distance through adaptive behavior, walking in nature, and demonstrating grit and flair these
practices, underpinned by mutuality, effectively reduce opposition and foster long-term positive relationships. This study contributes significantly to both the positive relationship and stakeholder engagement literature by bridging the gap between them, thus providing a more comprehensive understanding of stakeholder engagement dynamics. By integrating the concept of nature into both fields this study demonstrates how natural settings can enhance relational dynamics and foster bonding. The last main contribution introduces the concept of preparing to relate within the literature on positive relationships, highlighting the importance of proactive pre-situational preparations. This study suggests that these relational practices significantly can contribute to the green energy transition by underscoring the necessity of combining the overarching strategies with small genuine micro-interactions
The varying effects of standardisation on digital platform innovation: evidence from OpenStreetmap
Get PDFWe investigate the effects of standardisation as a means of direct control on digital platform innovation. Specifically, we study the standardisation of parameters and procedures implemented in the web editing API on the popular geodata platform, OpenStreetMap. Using a regression-based approach to interrupted time series analysis, we assess the quantity and quality of new content generated on the platform before and after the standardisation. We find that the intervention had positive and negative effects on the generation of platform content on OpenStreetMap, which we summarise in three different effects (control, simplification, spill-over). Through the control effect, standardisation decreases the generation of content in quantity by enforcing conformity and reducing complementor’s freedom in producing certain outcomes. Through the simplification effect, standardisation increases the generation of new content in quantity by simplifying and streamlining the production of certain outcomes. Lastly, through the spill-over effect, standardisation increases the generation of content in quality and new areas of the platform by improving the compatibility and interoperability of content. Framing these findings through the rich body of work on standardisation and innovation in the technology management literature, we engage a long-standing tension in research on digital platforms – the balance between control and innovation. We discuss the prospect of standardisation as one way to directly control the balance between desirable and undesirable variation necessary for platforms to innovate, as it restricts some activities while enabling others.publishedVersio
Demolishers or ‘material experts’? Project actors negotiating changing roles in sustainable projects
Get PDFFor projects to contribute to sustainability transitions, traditional roles of project actors need to be challenged. This paper focus on the changing role of demolishers in circular construction projects. We explore the role changes needed and the tactics adopted to negotiate these changes. Therefore, we collected data across 10 demolishers and two construction projects in the Netherlands. We identified required changes related to task, timing, position, and image. The studied demolishers adopted six different tactics to negotiate these changes. These findings contribute to the sustainability transitions literature by highlighting the important function of projects in operationalizing role changes and enabling change in the roles of incumbent actors. Furthermore, the results contribute to the debate on roles in sustainable projects, and on the roles of demolishers in particular, showing the different elements and non-linear nature of role change, including the unique challenges and tactics adopted by demolishers to negotiate these changes.publishedVersio
Portfolio Optimization: Maximizing Investor Satisfaction through Bayesian Belief Networks and ESG Factors
Get PDFMasteroppgave(MSc) in Master of Science in Finance - Handelshøyskolen BI, 2024/Masteroppgave(MSc) in Master of Science in Sustainable Finance, Handelshøyskolen BI, 2024In this thesis, we aim at discovering a portfolio structure that fulfills investor satisfaction in both financial and sustainability performance. To develop an integrated model, we employ Bayesian Belief Networks (BBNs) due to their capability to capture and visualize complex, non-linear relationships between variables. We select financial and ESG factors grounded in academic research and the methodologies developed by Morningstar and the London Stock Exchange Group, two leading institutions in investment research and management services. Our findings indicate that portfolios with a high emphasis on ESG factors show significant improvements in investor utility, particularly in high-volatility scenarios. Our study underscores the effectiveness of ESG integration into the portfolio optimization process, which not only maximizes investor utility but also aligns with the growing trend of sustainability-driven investments in financial markets.
Key words: Bayesian Belief Networks, Investor satisfaction, Financial factors, ESG factors, Portfolio optimizatio
How Can Innovative Post Smolt Strategies Revolutionize Sustainability in Salmon Farming?
Get PDFMasteroppgave(MSc) in Master of Science in Business, Sustainable Finance - Handelshøyskolen BI, 2024This thesis evaluates the effectiveness of Closed Containment Systems (CCS) and Recirculating Aquaculture Systems (RAS) in enhancing the sustainability and economic possibilities of the Norwegian salmon industry in the Western Norway region. Utilizing data from Ovum AS for the post smolt stage and advanced simulation modelling, the study demonstrates that employing larger post smolt sizes to the open net farming practice can dramatically reduce mortality rates by up to 40% and decrease the frequency of sea lice treatments by over 80%.
These improvements significantly support fish welfare and reduce the environmental footprint of aquaculture practices. Furthermore, the adoption of CCS and RAS not only optimizes operational efficiencies but also elevates profitability by enhancing operational margins through better maximum allowed biomass utilization and reduced operational risks. The findings advocate for a strategic shift in practices involved in farming Atlantic salmon, suggesting that the integration of cutting-edge technologies in post smolt strategies is imperative for achieving sustainable growth and resilience in the industry. This research provides compelling evidence that advanced aquaculture systems are essential for the future sustainability and economic success of salmon farming in Norway
Analyzing the Impact of CEO Turnover on Firm Performance and CEO Job Survival Rates. Evidence from Norwegian Firms
Get PDFMasteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2024This thesis examines the change in firm performance following CEO turnover, focusing on family firms (the largest family among the firm’s shareholders holds more or equal to 50% of the shares) versus non-family firms (<50%). We also investigate whether there are performance differences between hiring a family CEO (those related to the largest shareholder) and a non-family CEO.
Additionally, the thesis investigates the job survival rates of both CEOs in family versus non-family firms and family versus non-family CEOs, and how Return on Assets (ROA) relates to CEO turnover.
Using high-quality data from Norwegian companies, we clearly define family CEOs and family firms to ensure robust results. We develop three hypotheses based on existing literature to address the gap in research on CEO turnover and firm performance in family and non-family firms.
Our study finds that non-family firms outperform family firms in ROA improvement by 4.8 percentage points three years after a CEO transition. Hiring a non-family CEO leads to a 2.53 percentage point greater improvement in ROA over the same three-year period compared to hiring a family CEO.
Using the Cox Proportional Hazards Model, we find that CEOs in family firms are 64.18% less likely to be terminated compared to those in non-family firms. Family CEOs are 83% less likely to be terminated than non-family CEOs. Higher ROA is associated with a small but significant decrease in the hazard rate of CEO termination, with a one-percentage point increase in ROA reducing the hazard by 0.71%. This effect is more pronounced in family firms.
Kaplan-Meier Survival Analysis reveals that the median tenure of CEOs in family firms is over 21 years, significantly longer than the roughly 12 years for non-family firm CEOs. Similarly, family CEOs have
median tenure exceeding 21 years, compared to around 9 years for non family CEOs. This highlights the unique stability and longevity associated with family CEOs compared to their non-family counterparts