BI Open (Norwegian Business School)
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FRAUD DETECTION IN U.S. FINANCIAL STATEMENTS: INCORPORATING GOVERNANCE IN DETECTIVE MODELLING
Get PDFMasteroppgave(MSc) in Master of Science in Finance - Handelshøyskolen BI, 2024This thesis extends the financial fraud detection model from ”The Model of Fraud Detection in Financial Statements by Means of Financial Ratios” by Kanapickien˙e and Grundien˙e (2015) by integrating governance factors with traditional financial ratios. Our model aims to improve the detection of fraudulent activities in U.S.- listed companies, addressing the limitations of current methods that primarily rely on financial ratios. Utilizing logistic regression, we analyzed a dataset of financial statements from 1998 to 2018, discovering that the inclusion of governance metrics significantly increases the accuracy of fraud detection. Our findings contribute to the existing literature by demonstrating the benefits of a comprehensive analytical approach that combines financial and non-financial factors, potentially facilitating earlier identification and prevention of financial fraud
Leadership Evaluations and Gender: A Cross-Sectoral Perspective
Get PDFMasteroppgave(MSc) in Master of Science in Leadership and Organizational Psychology - Handelshøyskolen BI, 2024This study investigates the presence of gender biases in leadership evaluations of assertive women across various sectors, using the character "Julie" as a case study to elicit natural responses without explicit gender labeling. The research employs a cross-sectoral case study approach, conducting semi-structured interviews with eight informants, including one female and one male leader representing each sector: academia, oil, finance, and health sectors.
The findings reveal significant variations in how Julie's assertiveness is perceived across sectors. All four sectors exhibited conditioned acceptance of Julie based on her success, team orientation, and competence. Leaders tended to correct her behavior to align with more communal traits, reflecting the "double-bind" dilemma, where women must balance assertiveness with warmth to avoid negative perceptions. While ambition was recognized as important, Julie was advised to moderate it, as "too much" ambition would be perceived as annoying. This illustrates the "labyrinth" women often navigate in the business world. Leaders either integrated Julie into the in-group by guiding her towards communal traits or placed her in the out-group if her norms and values did not align with theirs. The study concludes that gender biases and stereotypes influence evaluations, varying by sector and leader. This study complements prior research by illustrating how these biases manifest in sector-specific contexts.
The study underscores the persistence of gender biases in leadership evaluations and necessitates for continued efforts to create inclusive and equitable workplaces where all employees can succeed based on their competence and qualifications. Based on the findings, this thesis discusses practical implications, limitations, and directions for future research
Defensa colaborativa en el ártico: Fortalecimiento de la resiliencia del sector petrolero de Noruega mediante el intercambio de conocimientos y la vigilancia contra las amenazas de los drones
No full textNorway's oil sector faces significant security challenges due to rapid technological advancements and heightened geopolitical tensions, particularly concerning threats from Russian drones. The sector maintains a vigilant approach, continually monitoring and adapting to evolving threats. This study investigates strategies employed by sector companies to mitigate challenges, emphasizing collaboration, effective network utilization, and learning from past incidents to enhance operational resilience. Our analysis aligns with three thematic areas from the Generic Resilience Management Guidelines developed under the EU-funded H2020 project DARWIN: enhancing coordination in emergency response operations, managing adaptive capacities, and updating procedures and checklists. The study underscores the role of task forces, interdisciplinary teams, and collaborative efforts among industry operators in enhancing adaptability to threats. Findings indicated that although a willingness to draw insights from past incidents exists, a predominant reactive approach to learning prevails. Furthermore, a culture of secrecy prevalent in the sector inhibits knowledge sharing, potentially challenging overall resilience. In this complex context, proactive and transparent security approaches are imperative for Norway's oil sector to enhance resilience. Organizations should adopt a dynamic, technology-integrated risk management approach, involving continuous policy revision and stakeholder engagement, as suggested in contemporary resilience enhancement strategies.publishedVersio
The SOFR Discount
Get PDFThe transition from London Interbank Offered Rate (LIBOR) to Secured Overnight Financing Rate (SOFR) affects the reference rate of floating-rate debt worth trillions of dollars. We provide the first evidence highlighting a benefit of the benchmark transition for debt markets. Focusing on the market for dollar-denominated floating rate notes (FRNs), we compare the yield spreads of FRNs linked to LIBOR and SOFR, issued by the same entity during the same month. After adjusting for the maturity-matched spreads from derivatives markets, we find significantly lower spreads for SOFR-linked FRNs. We link this SOFR discount to the enhanced price stability of SOFR-linked FRNs.publishedVersio
Styrer og bærekraft: Norske børsnoterte selskap møter forventninger med kontroll heller enn strategi
Get PDFFormålet med artikkelen er å identifisere hvordan styrer oppfatter sin rolle for å møte bærekrafts-forventninger. Vi gjennomførte digitale tekstanalyser av ESG-rapporteringen til alle selskap ved Oslo børs som ble ESG-rangert av Refinitiv i perioden 2012–2022. Analysen gir en kvantitativ oversikt over hvordan selskapene har respondert på bærekraftsrelaterte forventninger, og hvordan styrer har organisert arbeidet for å møte forventningene i denne tiårsperioden. Vi finner at styrer i børsnoterte selskap responderer på endring i eksterne bærekrafts-forventninger gjennom økt fokus på kontrollrollen, men bare i liten grad ved å ta strategisk ansvar for utviklingen, som opprinnelig forventet. På bakgrunn av dette mener vi at dagens system for eierstyring og selskapsledelse i Norge (referert til som Corporate Governance-system i denne artikkel) ikke er optimalt for å nå politisk bestemte bærekraftsmål.publishedVersio
Industrial policy, green challenges, and international business
Get PDFNation-states are designing their industrial policies increasingly to not only enhance national competitiveness, but also to simultaneously address “Green Challenges”, concerns about the natural environment that require concerted action among different actors in society, including domestic and foreign multinational enterprises (MNEs). This blending of global and national policy objectives is leading to a new wave of industrial policies in advanced economies that are informed by scholarly discourses in evolutionary economics, innovation systems, and 'wicked problems'. We discuss the implications of these sustainability-oriented industrial policies for MNEs. They operate in increasingly diverse local ecosystems shaped by local actors and local policies as we illustrate for two such ecosystems in Nordic countries: circular economy and energy transition. Many MNEs face a tension between capabilities they could use to help nations achieve their sustainability goals and incentives to protect existing rents and business models. They may thus engage pro-actively or reactively in both market and nonmarket realms in each country in which they operate. We discuss the interactions between MNEs, governments, and other actors in host countries pursuing both sustainability and competitiveness objectives, and outline how ensuing tensions create new challenges and opportunities for international business scholarship.publishedVersio
Perceptions of offender motives, opportunities and willingness for financial crime: an empirical analysis of survey responses in six nations
Get PDFPurpose: This study aims to identify perceptions of financial crime among students in six different countries. Design/methodology/approach: Survey research was conducted among students in India, Iran, Malaysia, Norway, Romania and the USA to compare the ranking of perceptions. Findings: The following three propositions for financial crime had most agreement among respondents: lack of oversight and guardianship, legitimate access to resources and heroic offender status. Research limitations/implications: Scholars involved in various countries conducted survey research at different points in time with little knowledge of each other’s survey populations and response rates. Practical implications: Crime convenience and, thus, attractiveness can be addressed by focusing on propositions finding the strongest agreement in the surveys. Social implications: Agreement and lack of agreement indicate priorities in fighting financial crime. Originality/value: The diversity of nations involved in survey research makes this study interesting.acceptedVersio
Rebound Effects as an Obstacle to Sustainable Housing Goals: How Green Features Lead to Larger‐Sized Homes
Get PDFGlobal resource use and emissions continue to rise despite the widespread adoption of more energy-efficient products and technologies. The current research addresses this green paradox by examining how the availability of rooftop solar panels and other energy-saving green features leads to rebound effects that inadvertently increase the popularity of physically larger and more resource-intensive homes. A conjoint analysis-based survey of US home buyers is utilized to determine the presence of income and moral licensing-based rebound effects, which together are predicted to increase buyer preference for larger homes. As expected, the findings show a shift in buyer preference towards larger homes due to significant income and moral licensing-based rebound effects created by the availability of energy-saving/guilt-reducing green features. The conjoint analysis results are then utilized in conjunction with home construction-sourced secondary data to estimate the economic and environmental implications of the larger home sizes. These estimates reveal that larger homes increase the financial attractiveness of green features for home builders and buyers, but at the cost of largely eliminating their environmental benefits. This suggests that efforts to achieve the widespread adoption of green features should focus on introducing them on physically larger products first when doing so makes the features more popular and profitable, because such popularity may create the potential for scale-based cost reductions that could lead to their wider adoption across all product sizes with consequent environmental benefits.publishedVersio
Hvordan virker utlånsforskriften? En oppsummering av forskningslitteraturen
Get PDFdenne artikkelen forsøker vi å svare på om utlånsforskriften har virket etter hensikten og hvilke kostnader den påfører husholdningene. Forskningslitteraturen indikerer at boliglånsregulering bidrar til noe lavere gjelds- og boligprisvekst, men at det er mer usikkert om den reduserer husholdningenes sårbarhet for uforutsette hendelser som renteøkninger og arbeidsledighet. Utlånsforskriften påfører samtidig mange husholdninger kostnader ved at den begrenser muligheten for konsumglatting og kan gjøre det vanskeligere for unge å kjøpe sin første bolig. Reguleringen kan også forsterke viktigheten av formuende foreldre for muligheten til boligkjøp. Høy inflasjon og rente kan redusere behovet for forskriften og øke kostnadene.publishedVersio
The influence of network understanding on value creation in business relationships
Get PDFPurpose – This study aims to investigate how companies’ understanding of the business network influences the creation of value in business-to-business relationships. The authors do this by analysing dimensions in actors’ “network pictures” and illustrating how value perception and network understanding influence actors’ mutual effort to create value. Approaching relationship value from the point of actors’ cognitive understanding of their business network has so far been largely overlooked in relationship value research. Design/methodology/approach This study applies a qualitative case study methodology whereby dyadic data from a well-established business-to-business relationship is collected from 18 company representatives through personal interviews and group interviews supplemented by participant observations and company data. Findings The findings contribute with new insight into how companies’ understanding of their surrounding network influence (facilitates or limits) relationship value creation. The authors find that companies continuously reflect on changes in their networks and the related changes in partners’ value perceptions. Through value articulations, companies seek to explicitly express their value perception. Value reflections and value articulations create a dynamic process formed not only by the individual actor but also through their relationship and engagement in their network environment. This requires companies to develop their networking capabilities. Research limitations/implications This paper presents findings, insights and contributions limited to a case study of a particular business relationship within an industrial setting. Although the findings and contributions are valid and in line with the criteria for rigorous qualitative research, the authors advocate and call for additional studies that investigate relationships value creation and address the interplay between actors’ network understanding and their actions and behaviour. One way to approach this would be to test the four propositions derived and presented as part of the present study. Practical implications The findings imply that management needs to be aware not only of the value created and delivered to a specific partner but also of how the partner’s understanding of the wider network will influence the value delivering and capturing process. Originality/value This study contributes to the growing literature on relationship value creation by outlining a dynamic process where relationship partners reflect upon and articulate value. Such activities are influenced by the partners’ network understanding and form the basis of the mutual relationship value creation effort. The findings also contribute to the network pictures literature by emphasizing insights into the formation of value perceptions through actors’ understanding of their surrounding networks. Keywords Network understanding, Value creation, Relationship value, Network pictures, Business relationships, Value perceptionsThe influence of network understanding on value creation in business relationshipsacceptedVersio