BI Open (Norwegian Business School)
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Unveiling inflation: Oil Shocks, Supply Chain Pressures, and Expectations
Get PDFThis paper demonstrates that inflation expectations have acted as significant amplifiers of recent global demand and supply shocks, thereby playing a crucial role in maintaining inflation at relatively high levels. This finding is established by applying a structural vector autoregression model that includes various shocks to global demand and supply, along with domestic inflation and inflation expectations for six economies: the United States, Canada, New Zealand, the Euro area, the United Kingdom, and Norway. We begin by documenting that global demand and supply shocks in the oil market, as well as global supply chain disruptions, have been major drivers of the recent inflation surge in all these economies. Subsequently, through various counterfactual and conditional forecasting exercises, we demonstrate that inflation expectations generally amplify the transmission of global shocks to inflation and have played a critical role in sustaining elevated inflation rates in recent years, particularly in the United States, Canada, and New Zealand
Redefining Leadership Practices in the Digital Age: The Role of Psychological Needs and Leader Support in Advancing Technology, Innovation, Creativity, and Sustainability
Get PDFMasteroppgave(MSc) in Master of Science in Leadership and Organizational Psychology - Handelshøyskolen BI, 2024This study investigates how basic psychological needs at work and leader support are associated with fostering development of technology, innovation, creativity, and sustainable solutions in the digital age.
A quantitative method was used collecting data through an online survey capturing the perceptions of 217 Norwegian workers from various sectors. Established scales as Basic Psychological Need Satisfaction Scale and the Leader Support for Innovation Questionnaire were applied. Statistical analyses, including correlation and multiple linear regression analyses, were performed to examine the associations between the variables.
The results showed that leader support had a positive association with development of new technologies, innovation and creativity, and sustainable solutions. Further, competence had a positive association with new technology development and sustainable solutions, while autonomy was positively significantly associated with innovation and creativity. Relatedness did not show significant direct associations with any of the outcomes. The results demonstrate the importance of leader support in innovative and creative processes, explaining additional variance in both models.
This study highlights the importance of both basic psychological needs and leader support in innovative and creative processes. Insights underscore the importance of leaders adopting supportive and autonomy-enhancing practices to foster environments conducive to technological advancements and sustainability. Organizations are recommended to invest in leadership development programs emphasizing leader support, as well as the satisfaction of autonomy, competence and relatedness of employees. By doing so, organizations can create a more motivated, innovative and creative workforce capable of meeting the challenges of tomorrow
Individual differences in sensitivity to taste-shape crossmodal correspondences
Get PDFPeople generally associate curved and symmetrical shapes with sweetness, while associating angular and asymmetrical shapes with the other basic tastes (e.g., sour, bitter). However, these group-level taste-shape correspondences likely conceal important variation at an individual-level. We examined the extent to which individuals vary in their sensitivity to crossmodal correspondence between curvature and symmetry, on the one hand, and the five basic taste qualities (sweet, bitter, salty, sour, and umami), on the other. In Experiment 1, participants matched shapes (curved vs. angular, symmetrical vs. asymmetrical) and taste words. In Experiment 2, participants performed a similar task, though this time using actual tastants. Given that people differ in their hedonic experience of such shapes and tastes, we also measured participants’ liking for each taste and shape separately. The results replicate the general crossmodal correspondences between curved-sweet and symmetrical-sweet stimuli. Furthermore, participants tended to match sour and bitter tastes with angular and asymmetrical stimuli. However, these group-level taste-shape correspondences coexist alongside substantial variation at the level of the individual. While some participants consistently matched specific tastes with curved and symmetrical stimuli, others consistently matched these tastes with angular and asymmetrical stimuli, or else did not show these taste-shape correspondences. Liking for curved and symmetrical stimuli was higher than for angular and asymmetrical stimuli. However, participants also differed considerably in the extent to which these visual features affected their liking. Overall, our findings highlight the substantial individual differences that are associated with the degree to which people associate and like shapes and tastes.Individual differences in sensitivity to taste-shape crossmodal correspondencespublishedVersio
Evaluating the Impact of Private Label Brands vs. National Brands on Purchase Intention: The Mediating Role of Brand Embarrassment
Get PDFMasteroppgave(MSc) in Master of Science in Strategic Marketing Management - Handelshøyskolen BI, 2024This study examines the impact of brand-related embarrassment on purchase
intention in the grocery context. By integrating theories of product brand type, and brand embarrassment, social risk, brand congruence, the study also sheds light on the moderating role of social risk and brand congruence in affecting the effects of private label brand purchases on consumer’s embarrassment and consequently purchase intention. A survey was conducted among 241 Norwegian residents as well as international individuals residing in Norway and utilizing Norwegian grocery stores. Data analysis was performed using smartPLS. The results indicate embarrassment significantly mediates the effects of private label brand purchase and social risk on purchase intention. Similarly, this moderating effect is observed in the relationships between brand incongruence and brand purchases. However, in the absence of contextual considerations, there is a significant direct effect of private label brand purchases on embarrassment. These findings offer valuable managerial insights for decision-makers regarding product brand selection and store configuration
Sustainable Transportation: Evidence from the Role of Charging Infrastructure in Norway
Get PDFMasteroppgave(MSc) in Master of Science in Business, Economics - Handelshøyskolen BI, 2024This thesis examines how the installation of fast charging infrastructure influences
the adoption of battery electric vehicles (BEVs) in Norwegian municipalities.
Building on Schulz and Rode's (2022) research, our study differentiates between
fast and slow chargers while also controlling for economic regions to reduce
potential spillover effects. The data set contains observations from 252 rural
Norwegian municipalities between 2010 and 2019. The change in electric vehicle
share following installation of fast charging infrastructure is analyzed using a
Difference-in-Difference methodology and presented as event studies with
municipalities that received fast charging installations serving as the treatment
group, while those without such installations act as the control group. Our study
finds that the installation of the first public fast charging station in a municipality
increases BEV adoption rates by 1.4 percentage points over a 5-year period. When
controlling for economic regions to reduce potential spillover effects, the increase
was 1.7 percentage points for the same period. This suggests that the original
study by Schulz and Rode (2022) may have underestimated the actual impact by
not fully capturing the positive externalities of charging infrastructure in
neighboring municipalities. In both cases, initial effects are modest in the first two
years but show a notable rise by the fifth year, indicating a sustained positive
impact over time. This suggests that fast charging infrastructure significantly
boosts electric vehicle adoption. When expanding the analysis to include slow
charging infrastructure, similar adoption trends were observed. These findings
highlight consistent influences such as consumer preferences, government
incentives, and environmental focus, which drive adoption regardless of charging
type. Overall, this study provides insights into the relationship between charging
infrastructure and electric vehicle adoption
Empirisk analyse av kronekursen
Get PDFBacheloroppgave i Økonomi og administrasjon fra Handelshøyskolen BI, 2024Denne oppgaven tar for seg utviklingen i kronekurs målt i importveid kursindeks (I-44) i tidsrommet 2004-2024. Oppgaven har som mål å se om ulike makroøkonomiske variabler har en signifikant effekt på utviklingen i kronekursen. Vi bruker både kvartalsvis og månedlig data for å undersøke effekten.
I den teoretiske delen har vi tatt med økonomiske teorier som har som mål å forklare hvordan kronekursen blir påvirket av rente og prisnivå. Vi har også med teori om valutamarkedet som forklarer hvordan vekslingsforholdet mellom valutakurser oppstår.
Den kvartalsvise modellen kommer frem til at kun to av variablene ble signifikante. Dette er endringen i oljepris og endringen av I-44 fra tidligere periode. En positiv økning i oljepris fører til negativ endring i I-44, noe som gir intuitivt mening ved at oljeprisen fører til en generell appresiering av kronen. Resultatene viser også at en økning i I-44 fører til en svekkelse av I-44 neste periode, noe som gir intuitivt mindre mening.
Den månedlige modellen inneholder flere parametere. Her blir endringen i I-44 påvirket av hva endringen var for to perioder siden, endringen i oljeprisen, endringer i VIX-indeksen og endringen i rentedifferanser mellom Norge og USA for to perioder tilbake. Til tross for flere parametere blir forklaringskraften svakere i denne modellen, der �2 er 34,54% kontra 54,62% i den kvartalsvise modellen
Remote Work: Perceived Supervisor Support and the Mediating Role of Basic Psychological Needs on Turnover Intention
Get PDFMasteroppgave(MSc) in Master of Science in Leadership and Organizational Psychology - Handelshøyskolen BI, 2024Using a cross-sectional, quantitative research design, the current thesis examines how Perceived Supervisor Support relates to turnover intention, and whether the proposed relationship is mediated by the basic psychological needs autonomy, competence and relatedness. The research is contextualized within remote work environments, using only data from employees with the opportunity to work from home. The findings support our first hypothesis, demonstrating that Perceived Supervisor Support has a significant negative relationship with turnover intention. Moreover, the study reveals that both autonomy and relatedness partially mediate this relationship, whereas competence did not yield significant results.
We have discussed the implications and limitations of the study and provided suggestions for future research directions
Investigating the effectiveness of model-based, out-of-sample predictors regarding the predictability of stock (excess) returns in the US
Get PDFMasteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2024This thesis investigates the effectiveness of model-based, out-of-sample predictors in determining the predictability of stock returns in the US market, focusing on the S&P 500 index. The research examines the impact of inflation and interest rates on stock returns. Significant results indicate that Year-over-Year (YoY) inflation has predictive power for one-, three-, and twelve-month returns. Detrending data significantly improves these results. Multivariate regression incorporating both interest rates and inflation provides better forecasting than univariate regression. This study aims to offer insights for investors and researchers.
Keywords: Inflation, Interest Rate, Predictability, Excess Stock Return, Detrending, Univariate Regression, Multivariate Regression, In-sample, Out-of-sample, S&P 500, U.S. market
Time-Varying Green Yield Differential
No full textMasteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2024This thesis investigates the inflation hedging properties of the main commodity
classes: metal, energy, livestock, and agriculture, comparing them to other
asset classes against both expected and unexpected inflation from 1970 to
2023. We conduct a three-step analysis. first, we examine the relationships
with historical inflation. Furthermore, we test the hedging capabilities of each
asset against expected and unexpected inflation. Finally, we assess nominal
and real returns for each asset class. We also regress the excess returns on the
Capital asset pricing model (CAPM) and calculate Sharpe ratios to evaluate
risk-adjusted performance. We conclude that only US housing consistently
hedges against expected inflation. Returns in commodities and gold exhibit
substantial sensitivity to inflation, and the Center for International Securities
and Derivatives Markets (CISDM) Index emerges as superior in returns. In
addition, the CISDM index shows a strong correlation with unexpected inflation
over a monthly and quarterly holding period. However, no asset hedge
against both expected and unexpected inflation across all periods
The development of a calling by hospitality employees during an extreme event
Get PDFThis study explores the development of a calling by hospitality employees during extreme events. Despite the importance of a calling in the hospitality industry, the process of its cultivation has not been explored. Using event system theory and research on sensegiving and sensemaking, we explore the evolution of employee perceptions of an extreme event and the impact of this evolution on the development of a calling. Our interviews with hotel employees who worked during a lockdown due to COVID-19 demonstrate that extreme events can stimulate and develop a calling among employees, particularly when their perceptions of the event converge. This study contributes to the literature on hospitality and organizational behavior by revealing that an extreme event can shape, transmit, and communalize a calling among employees.publishedVersio