BI Open (Norwegian Business School)
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Time-Varying Green Yield Differential
Get PDFMasteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2024We investigate the green yield differential for corporate and government bonds
in the European primary and secondary markets. Additionally, we examine
the development of the green yield differential during the recent COVID-19
and energy crises, aiming to uncover significant changes in investor trading
decisions. We utilize a matching process to identify comparable bonds and
analyze the behavior of the green yield differential using multiple regression
models. Our results suggest that the green yield differential remains insignificant
and inconsistent over the years and has stayed mostly the same following
the recent economic shocks. We conclude that despite being present in the
European market, the green yield differential does not result in substantially
cheaper financing compared to conventional bonds, does not substantially differ
from conventional bond prices, and is sensitive to sustainability-related
events in the European market
"Evaluating the Role of CRM System Quality and Cross-Understanding in Enhancing Conflict Resolution and Communication Quality in B2B Relationships"
Get PDFMasteroppgave(MSc) in Master of Science in Strategic Marketing Management - Handelshøyskolen BI, 2024In the marketing literature, there appears to be a gap concerning the impact of
Customer Relationship Management (CRM) system applications. While substantial
literature addresses the implementation of CRM systems, there is a lack of research
focusing on the effects of these systems, particularly in relation to conflict handling
and communication.
This thesis aims to investigate whether CRM systems and the cross-understanding
perceived by the seller influence communication quality, communication
complexity, norms, and conflict handling within B2B relationships. Additionally, it
examines whether formal contracts have a mediating effect on these relationships.
To achieve this objective, the study utilized a sample of 62 relevant respondents
from companies in Norway, specifically targeting individuals who hold roles as
sellers in B2B relationships. The data were collected through a detailed survey and
analyzed using regression analysis. The analysis revealed the following significant
findings. Cross-understanding was found to mediate the effects of CRM systems on
norms, communication quality, and communication complexity. This suggests that
a seller's comprehension of the CRM system and the shared understanding between
parties can enhance these aspects of business interactions. Furthermore, formal
contracts were identified as mediators in the relationship between crossunderstanding
and the same variables, highlighting the role of formal agreements
in facilitating effective communication and adherence to norms.
Based on these results, we discuss the theoretical and managerial implications,
providing actionable insights into the practical applications and contributions to
existing literature on CRM systems in B2B contexts. The research contributes to
the limited body of knowledge on the effects of CRM systems by demonstrating
their impact on key aspects of B2B communication and conflict management.
Furthermore, this research underscores the importance of not only implementing
CRM systems but also understanding their broader impact on business processes
and relationships
En sammenligning av Norge og Sveits i lys av makroøkonomiske teorier
Get PDFBacheloroppgave i Anvendt makroøkonomi fra Handelshøyskolen BI, 2024Norge og Sveits er blant de mest velstående landene i verden, rangert høyt på
BNP per innbygger. Deres veier til velstand har imidlertid vært forskjellige:
Norges rikdom skyldes i stor grad olje, mens Sveits har oppnådd sin velstand uten
vesentlige naturressurser. Denne oppgaven forsøker å gi et kvalitativt svar på om
Norge kan dra nytte av inspirasjon fra Sveits når oljeressursene tar slutt.
Oppgaven utforsker både Norges og Sveits’ historiske utvikling og nåværende
situasjon ved å analysere makroøkonomiske variabler basert på teorier som
oljemodellen, inntektskamp-modellen, Solows vekstmodell og inntektsbeskatning.
På kort sikt vil Norges økonomiske politikk avhenge av utviklingen i økonomiens
tempo og inflasjon, mens Sveits vil påvirkes av fall i utenlandsk etterspørsel og
økte offentlige utgifter. Begge land har størst sysselsetting i helse-og
sosialsektoren og står overfor utfordringer med en aldrende befolkning. De
kjennetegnes av lav arbeidsledighet internasjonalt, men har opplevd utfordringer
de siste årene. Sveits har overgått Norge i HDI-målinger, mens Norge har vist
bedre utvikling i innovasjonsevne. Norges arbeidsproduktivitet har hatt en mer
positiv utvikling enn Sveits, som har hatt høyere total faktorproduktivitet. Begge
landene har økende eksport, men Sveits har en større eksportandel av BNP enn
Norge.
Viktigheten av eksport gjør begge landene sårbare for økonomiske utviklinger i
andre land, og sammen med fremtidige kriser utgjør dette en usikker faktor.
Likevel har de håndtert tidligere kriser relativt sterkt, til tross for ulik påvirkning.
Norges avhengighet av olje viser behovet for lærdom fra Sveits. Solows
vekstmodell framhever total faktorproduktivitet som kilden til langsiktig
økonomisk vekst. Norge kan dra nytte av Sveits’ utdanningssystem,
innovasjonsevne og effektive offentlige institusjoner. Viktige faktorer inkluderer
økt næringslivstilknytning, internasjonal student- og professorattraktivitet,
yrkesfaglig prestisje, tiltrekning av multinasjonale selskaper, grønn innovasjon og
intellektuell eiendom. Økt desentralisering og justering av skattesystemet kan
også være nødvendig
Understanding Consumer Responses to Diversity Portrayals: The Role of Authenticity in Instagram Advertising
Get PDFMasteroppgave(MSc) in Master of Science in Digital Communication Management, Handelshøyskolen BI, 2024This master’s thesis examines how consumers perceive and respond to the portrayal of diversity and inclusion in digital advertising on Instagram. Driven by the increasing prevalence of digital advertising and the growing consumer demand for authentic brand representation, this study explores how diversity in advertising influences consumer perceptions of brands.
The research employs a mixed-methods approach, combining social media scraping of comments and posts on Instagram with in-depth qualitative interviews of Instagram users in Norway. The study focuses on a case study involving the clothing brand Monki, analyzing reactions to their decision to remove certain sizes, as well as broader consumer perspectives on diversity in advertising.
Findings reveal that consumers actively evaluate the authenticity and inclusivity of diversity portrayals in digital advertising. A lack of genuine inclusivity can lead to negative consumer sentiment, erode trust, and even spark calls for boycotts. Conversely, authentic diversity efforts enhance brand image and foster consumer loyalty. However, consumers are wary of “diversity washing” and demand transparency and accountability from brands.
This study contributes to the understanding of the complex relationship between
diversity, authenticity, and consumer perception in the digital advertising
landscape. The findings underscore the importance for brands to prioritize genuine
inclusivity and avoid tokenistic gestures if they wish to resonate with today’s
socially conscious consumers. The study also highlights the pivotal role of social
media platforms and influencers in shaping public opinion and holding brands
accountable for their actions
Short- and Long-term Drivers of the Norwegian Krone
Get PDFMasteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2024This thesis examines the short- and long-term drivers of the EURNOK nominal exchange rate from 2000 to 2023. With contemporaneous regressions, we emphasize the increasing relevance of
the OSEBX and volatility measures in explaining exchange rate fluctuations. Next, our cointegration analysis reveals a persistent long-term relationship between the exchange rate and OSEBX from 2013 to 2019. Further, we identify a long-term relationship with the interest differential from March 25, 2022 to December 31, 2023. Finally, we observe that the productivity differential was cointegrated
with the exchange rate from 2015 to 2023 and reveal that lagged decreases in relative productivity are linked with the depreciation of the NOK
Hvordan kan en fastkurspolitikk påvirke Norges Banks posisjon i den norske økonomien?
Get PDFBacheloroppgave i Økonomi og administrasjon fra Handelshøyskolen BI, 2024I denne oppgaven har vi analysert hvordan en fastkurspolitikk kan påvirke Norges Banks posisjon i den norske økonomien. Gjennom en grundig gjennomgang av forskjellene mellom flytende valutakurs og fast valutakurs, har vi benyttet Mundell-Fleming-modellen, også kjent som IS-LM-BP-modellen, for å illustrere de makroøkonomiske implikasjonene av en slik overgang.
Vi begynner med en introduksjon til den norske økonomien og Norges Banks rolle i å utforme og implementere pengepolitikken. Her blir det belyst hvordan sentralbanken opererer under dagens flytende valutakursregime, samt de pengepolitiske målene som er satt av regjeringen. Videre i oppgaven presenterer vi Mundell-Fleming-modellen og anvender denne for å undersøke hvordan Norges Banks funksjon og relevans kan endre seg under en fast valutakurs. Denne modellen hjelper oss å forstå de komplekse interaksjonene mellom produktmarkedet, pengemarkedet og valutamarkedet i en åpen økonomi som Norge.
Vår analyse viser at en overgang til fast valutakurs vil medføre betydelige endringer for Norges Bank. Under en fast valutakurs vil sentralbanken måtte opprettholde en stabil valutakurs gjennom hyppige intervensjoner i valutamarkedet, noe som begrenser dens mulighet til å justere renten for å reagere på innenlandske økonomiske forhold. Dette innebærer at Norge i praksis må importere pengepolitikken fra det landet eller den sentralbanken kronen er knyttet til, noe som kan redusere Norges Banks uavhengighet og fleksibilitet. Oppgaven konkluderer med at en fast valutakurs kan gi stabilitet og forutsigbarhet, men på bekostning av fleksibiliteten i pengepolitikken. Norges Bank vil miste en betydelig grad av kontroll over nasjonal pengepolitikk, og må tilpasse seg utenlandske rentesettinger og pengepolitiske beslutninger for å opprettholde valutakursen
How Important Is Word of Mouth? Development, Validation, and Application of a Scale
Get PDFCompanies spend large amounts of money to induce word of mouth (WOM) and spread it among consumers. This research introduces the concept of “WOM relevance,” which measures the importance of WOM for consumers’ purchase-decision process in a specific category. It uses three studies to develop and validate a parsimonious scale to measure WOM relevance at the consumer level across various product categories and different types of WOM, and applies the scale in an additional set of five studies. Specifically, this research disentangles the consumer-level and category components of WOM relevance; shows that the consumer-level variation is (much) larger than the category-level variation; and provides insights into differences in WOM relevance across categories, consumers, and WOM types. It also empirically shows that electronic WOM relevance relates to consumers’ search behavior and consideration-set formation in an online-shopping environment. Furthermore, it demonstrates that the proposed scale predicts choices as well as a more sophisticated choice model does. Finally, this research shows that WOM relevance influences not only consumers’ own purchase-decision process but also their intentions to retransmit others’ WOM messages.acceptedVersio
Hvordan påvirker renteendringer private investeringer og konsum?
No full textBacheloroppgave i Økonomi og administrasjon med regnskapsutdanning fra Handelshøyskolen BI, 2024Det har vært 14 renteendringer i tidsperioden 19. august 2021 - 14. desember 2023. Både privatpersoner og bedrifter har blitt påvirket av renteendringene som Norges Bank har vedtatt , ettersom styringsrenten har gått fra 0 til 4,5 på en
tidsperiode på 2 år. I denne oppgaven undersøker vi hvordan renteendringer påvirker private investeringer og konsum. Formålet med denne oppgaven er å forstå de ulike faktorene og mekanismene som påvirker økonomisk aktivitet, med hovedfokus på styringsrenten.
For å besvare problemstillingen i oppgaven, anvender vi samfunnsøkonomisk teori og vi analyserer tidligere empiriske studier. Vi benytter oss også av sekundærdata fra Statistisk Sentralbyrå (SSB) og Norges Bank for å underbygge teoriene fra mikro og makroøkonomi.
Oppgaven starter med en gjennomgang av andelen privat konsum og investeringer av bruttonasjonalprodukt (BNP). Videre belyser vi hvordan faktorer som disponibel inntekt, kredittmuligheter, forventinger om inntekt og renter påvirker husholdningenes beslutninger om investeringer og konsum. Ved hjelp av IS MP modellen analyserer vi sammenhengen mellom konsum, investering og pengepolitikk. I tillegg undersøker vi hvordan en renteendring påvirker konsumutjevning.
Etter å ha anvendt teori og sett på de empiriske studiene, kommer vi frem til at renteendringene har signifikant effekt på både konsum og investeringer. For eksempel, en høy rente kan føre til redusert investering i boligsektoren, mens lavere renter kan stimulere til økonomisk vekst for både konsum og investeringer. Gjennomgående funn i de empiriske studiene gjenspeiler det økonomiske bildet vi har sett i Norge de siste 4 årene. I årene 2020 2021 og 2021 2022 , da renten var lav, økte privat konsum med henholdsvis 8,9 % og 4,1 %, mens i årene 2022-2023 , da renten var var det en reduksjon på 3,8 (Statistisk sentralbyrå, 2024 .a )
Individual characteristics in arts management careers: investigating the highly sensitive person scale on motivation to lead
Get PDFResearch on personality in leadership indicates that self-selection to leadership careers and artistic careers correlates with diverging personality profiles. People in leadership careers traditionally display lower neuroticism and higher conscientiousness than artistic individuals. In between, there are individuals entering arts management careers. To study these individuals directly, we collected Norwegian data from 91 musical theater students and 102 arts management students and compared with 109 business management students. As expected, conscientiousness and neuroticism predicted artistic careers against business management careers, aligned with the “arts for arts’ sake” myth of artists. Interestingly, arts management careers were not different from artistic careers. They weren’t more motivated to take on leadership roles than performing artists either. However, the Highly Sensitive Person Scale indicated that narrower traits of sensitivity predicted higher levels of motivation to lead in many artists. Some arts and arts management students seem to bring unique talents into forms of leadership particularly useful for artistic organizations. Our findings are discussed in terms of how leadership characteristics operate in the field of art, and the effect of domain-specific characteristics in this setting.publishedVersio
An economic analysis of topics in law regarding a broad interpretation of Article 101(3) TFEU, which considers sustainability
Get PDFMasteroppgave(MSc) i Master of Science in Law and Business - Handelshøyskolen BI, 2024The thesis deliberates how incorporating sustainability into the interpretation of Article 101(3) TFEU is considered consistent with the objectives of EU competition law and thus the legislative intent. The motivation behind the problem statement is an increasing international focus on sustainable development, which has incentivized the European Commission’s development of a sustainable growth strategy for Europe, herein an emphasis on sustainability in all EU policies and activities, including competition law.
The wording of the EU treaties, case law from the CJEU and the Commission, as well as other relevant legal sources, suggest that it is possible to adapt various objectives of competition law, which entails both strictly economic and more politically and socially oriented ones. Nevertheless, both the CJEU and the Commission argue that increased welfare is likely the fundamental objective, which may be expressed both strictly economically, through price and quantity consumed, but also through a broader set of social parameters, taking into account “quality of life”, as the CJEU and the Commission advocate for. Therefore, to assess the legislative intent, it is necessary to consider both economic and legal evaluations of the objectives of competition law.
The method of economic analysis of topics in law is utilized, where the first part of the deliberation, by applying relevant legal sources, demonstrates that a broad interpretation of the Article’s exemption provision, which allows for the inclusion of non-economic sustainability benefits extending beyond the relevant market, is in accordance with the legislative intent. Furthermore, the deliberation reveals that such a broad interpretation entails various economic implications for society, which affect economic efficiency and welfare. Although it is therefore complex to assess whether the broad interpretation actually aligns with the overall legislative intent, including the objective of increased welfare, the thesis’ comprehensive conclusion is that the broad interpretation and enforcement of Article 101(3) TFEU, which considers sustainability, is compatible with the legislative intent, and thus the legal and economic objectives of European competition law