BI Open (Norwegian Business School)
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Frozen Russian Assets to Finance Ukraine: Collateralization Instead of Confiscation
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Regulating short-term rental platforms: the effects of local regulatory responses on Airbnb’s operations in Europe
Get PDFMany digital platforms offer services that affect real-world socio-economic processes. One example is the impact of short-term rental platforms such as Airbnb or Wimdu on cities and neighborhoods. Because these platforms often operate in a regulatory void characterized by absent, unclear, or poorly enforced laws and regulations, local governments in affected cities have begun experimenting with a variety of instruments to regulate the operations of short-term rental platforms. In this paper, we report how such locally implemented regulatory responses have affected Airbnb’s operations across 13 European cities over the period from 2015 to 2019. Using a difference-in-difference specification with synthetic controls, we assess the impact of different regulatory responses by disaggregating them into motivations, actions, targets, and outcomes. We find that the effectiveness of regulatory responses differs by type of regulation (restricting or clarifying), type of host (professional or private), as well as the enforcement (with or without the cooperation of the platform operator). Through this work, we add to the ongoing debate on the regulation of digital platforms by presenting both empirical evidence as well as an analytical framework.Regulating short-term rental platforms: the effects of local regulatory responses on Airbnb’s operations in EuropepublishedVersionpublishedVersio
Project Governance and Governance of Interorganizational Project Networks: Toward Understanding Their Relationships and Future Research Agenda
Get PDFThis article considers and reflects upon the mark that Ralf Müller made through his published research on project governance. From project governance to governance of interorganizational project networks, Müller, along with his coauthors, has made significant contributions to project governance literature. In light of these two decades of theoretical development, we compare and synthesize the key elements of project governance and network governance. We provide a model that integrates project governance and network governance and propose several main themes for future research, including investigation of network governors, network governance design, mechanisms and principles, and its impact on improved project performance.acceptedVersio
Probabilistic Quantile Factor Analysis
Get PDFThis article extends quantile factor analysis to a probabilistic variant that incorporates regularization and computationally efficient variational approximations. We establish through synthetic and real data experiments that the proposed estimator can, in many cases, achieve better accuracy than a recently proposed loss-based estimator. We contribute to the factor analysis literature by extracting new indexes of low, medium, and high economic policy uncertainty, as well as loose, median, and tight financial conditions. We show that the high uncertainty and tight financial conditions indexes have superior predictive ability for various measures of economic activity. In a high-dimensional exercise involving about 1000 daily financial series, we find that quantile factors also provide superior out-of-sample information compared to mean or median factors.publishedVersio
Up for the challenge: Power motive congruence drives nurses to craft their jobs and experience well-being
Get PDFJob crafting is the behavior that employees engage in to create personally better fitting work environments, for example, by increasing challenging job demands. To better understand the driving forces behind employees’ engagement in job crafting, we investigated implicit and explicit power motives. While implicit motives tend to operate at the unconscious, explicit motives operate at the unconscious level. We focused on power motives, as power is an agentic motive characterized by the need to influence your environment. Although power is relevant to job crafting in its entirety, in this study, we link it to increasing challenging job demands due to its relevance to job control, which falls under the umbrella of power. Using a cross-sectional design, we collected survey data from a sample of Lebanese nurses (N = 360) working in 18 different hospitals across the country. In both implicit and explicit power motive measures, we focused on integrative power that enable people to stay calm and integrate opposition. The results showed that explicit power predicted job crafting (H1) and that implicit power amplified this effect (H2). Furthermore, job crafting mediated the relationship between congruently high power motives and positive work-related outcomes (H3) that were interrelated (H4). Our findings unravel the driving forces behind one of the most important dimensions of job crafting and extend the benefits of motive congruence to work-related outcomes.publishedVersio
The role of persuasion by significant others and engagement in bank-switching intention
Get PDFA person’s beliefs in individual abilities, such as self-efficacy or perceived behavioral control, profoundly affect emotion, cognition, and behavior. However, the influence of such beliefs is not apparent in current research on bank-switching intention and behavior. Moreover, the relationship between bank-switching intention and the sources that promote self-efficacy and perceived behavioral control has received even less attention. In a study with a representative sample of 1245 adults in the Norwegian market, we looked at the role of four promotional sources of self-efficacy, i.e., enactive mastery experience, vicarious experience, verbal persuasion, and physiological and affective states, in bank-switching intention. In line with past research, we found a negative association between customer satisfaction and bank-switching intention. However, bank-switching intention was positively associated with promoters of self-efficacy in bank-switching behavior, particularly persuasion from significant others and a feeling of engagement. This feeling of engagement also interacted with customer satisfaction on bank-switching intention. Our findings suggest that bank-switching intentions cannot be attributed solely to customer dissatisfaction. They also involve social cognitive aspects promoting individual self-efficacy and human agency. The effects of significant others and internal emotional activation are important when decoding bank-switching intention.publishedVersio
Kartet og terrenget: En analyse av EUs forsøk på å sikre lik nasjonal forvaltningspraksis ved fastsettelse av bankenes kapitalkrav
Get PDFRammeverket for fastsettelse av bankers kapitalkrav utgjør en viktig del av EUs bankregulering. Etter det någjeldende rammeverket følger summen av det samlede kapitalkravet en bank må overholde, av både kapitalkravsforordningen (CRR) og beslutninger fattet av forvaltningsmyndigheter (som oftest nasjonale) i medhold av lovgivning som gjennomfører det fjerde kapitalkravsdirektivet (CRD IV). Når fastsettelsen av en enkelt banks kapitalkrav delvis avhenger av beslutningene til nasjonale myndigheter, oppstår risikoen for ulik praksis i forskjellige medlemsstater. Et slikt utfall vil passe dårlig med EUs uttalte ambisjoner om felles krav på bankreguleringens område. Artikkelen analyserer hvordan EU ved utformingen av regelverket for fastsettelsen av bankenes kapitalkrav har søkt å løse spenningen mellom hensynet til lik regulering og hensynet til å sikre at kravene er tilpasset særegne forhold ved individuelle banker eller medlemsstatenes finanssektorer. Analysen avdekker at det er stor variasjon mellom ulike bestemmelser i CRD IV med hensyn til hvor klare føringer EU-retten legger for nasjonale myndighetsbeslutninger. Det er derfor risiko for at nasjonale myndigheter praktiserer deler av kapitalkravsrammeverket på en uensartet måte.publishedVersio
Does Convergence with International Standards on Auditing Improve Audit Quality?
Get PDFMany countries have converged their domestic auditing standards with International Standards on Auditing (ISA). This study provides global empirical evidence on first-order determinants of audit quality by examining whether and how convergence affects audit quality through utilizing data on 41 jurisdictions and using a staggered difference-in-differences approach. We find that ISA convergence leads to higher audit quality on average. The positive effect is stronger for clients of domestic audit firms, in jurisdictions with stronger enforcement, and when the ISA convergence level is higher. Insights from textual features suggest that changes in principle-orientation, comparability, readability, and size (or length) of auditing standards are positively related to audit quality. Exploratory analyses of textual content using machine learning reveal that the emphases of ISA on going-concern assessment and legal compliance, fraud risk assessment and internal control evaluation, and related-party transactions and subsequent events contribute to enhanced audit quality.Does Convergence with International Standards on Auditing Improve Audit Quality?acceptedVersio