NHH Brage (Norges Handelshøyskole)
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Fairness Beliefs Affect Perceived Economic Inequality
Get PDFThis paper establishes a causal link from fairness beliefs to perceived economic inequality. I conduct an experiment where participants are asked to estimate various income inequality measures of hypothetical societies. While the true income distributions of the societies remain identical and simple, the description of the societies varies to indicate “fair” and “unfair” inequality across respondents. Describing the society as “unfair” increases the incentivized estimated top 10% income share as much as the actual difference between Denmark and the United States. Other inequality metrics are similarly affected. The findings imply that ideological beliefs fundamentally alter how people perceive economic inequality
Public governance versus corporate governance: Evidence from oil drilling in forests
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Four Essays in Natural Resource Economics: Dynamic Modeling of Renewable and Nonrenewable Marine Resources
Get PDFUnderrepresentation, Quotas and Quality: A dynamic argument for reform
Get PDFThe trade-off between increased representation and perceived quality is central to the debate on how to address underrepresentation in high-profile professions. We address this trade-off using a dynamic model of career selection where juniors value both the identity and perceived quality of their mentors (seniors). A preference for homophily results in the persistence of underrepresentation, suggesting intervention is needed. However, if an abrupt quota causes a large decrease in the perceived quality of underrepresented seniors, then underrepresented juniors of high talent will select out of the profession, causing a permanent (real) quality difference. Encouragingly, we show that gradual reform—while decreasing perceived quality in the short term—enables a transition to equal representation and equal quality in the long term. We discuss the implications of our analysis for commonly-used measures to increase representation
Skaper forskjeller i bankregulering ulike konkurransevilkår? En empirisk analyse av IRB-metodens påvirkning på lønnsomhet og risiko i norske banker
Get PDFI denne utredningen undersøker vi hvordan implementeringen av «Internal Ratings-Based
(IRB)»-metoden påvirker lønnsomhet og risiko for norske banker, og om den har noen
implikasjoner for konkurransevilkårene. Ved hjelp av «Difference-In-Difference»-regresjoner
studerer vi finansielle nøkkeltall for 7 IRB-banker og 61 standardmetode-banker fra 1996 til
2021. Resultatene viser ingen endring i lønnsomhet, målt ved rentemargin og
totalkapitalrentabilitet. I utredningen skiller vi mellom rapportert risiko og faktisk risiko. Med
hensyn til rapportert risiko finner vi at gjennomsnittlig risikovekt faller og at kapitaldekningen
øker. Begge disse indikerer at rapportert risiko går ned etter at metoden implementeres. Videre
finner vi at utlån som andel av innskudd faller, noe som styrker bankenes likviditet og med det
reduserer faktisk risiko. At risikoen til IRB-bankene faller uten at det går ut over lønnsomheten,
indikerer at reguleringen fører til ulike konkurransevilkår mellom IRB-bankene og
standardmetode-bankene.nhhma
Evaluating the Impact of Image Features on Airbnb Price Predictions : A Machine Learning Approach to Hedonic Pricing
Get PDFThis thesis explores the influence of image features on the predictive performance of hedonic price models for Airbnb listings. By integrating machine learning methods, image quality features, colour features, and black-box model interpretation methods, the study demonstrates the value of these components in the field of property price prediction. This thesis utilizes a novel dataset scraped in 2023 from Amsterdam which offers updated insights into the role of image features in Airbnb pricing. After deploying 10 different machine learning models, the XGBoost model yields the best predictive accuracy based on several performance metrics. Although the enhancement in predictive performance of the XGBoost model by inclusion of image features was not statistically significant, these features showed non-negligible influences and interactions in the decision-making process of the model. These findings imply a potential role of image features in refining property price models, providing valuable insights for the stakeholders in the fields of hospitality, real estate, advertising, and machine learning research.nhhma
Trade in times of conflict and sanctions : A gravity model analysis on the trade between the Scandinavian countries and Russia during the Russian-Ukrainian conflict
Get PDFIn this thesis we study trade flows between the Scandinavian countries Denmark, Norway and
Sweden and Russia. Particularly, we investigate the trade flows in light of the Russian-
Ukrainian conflict and the following sanctions against Russia imposed by the EU. We look at
data on exports, imports and total trade between the Scandinavian countries and Russia and
how they have developed in the period from 2012 till third quarter of 2022. Insights in this
development are interesting and important, both to evaluate the effectiveness of the sanctions
already imposed, and what implications these findings may have for future policy work.
To answer the research question, we have used both descriptive statistics and regression
analysis. We have used an augmented gravity model when evaluating the development of trade
flows. To estimate the relationship between trade flows and conflict and sanction, we have
added dummy variables to the traditional gravity model that adhere to important events in the
period.
Our main findings are that the exports from the Scandinavian countries to Russia tend to
decrease from the first sanctions are imposed in 2014, mainly explained by the Russian import
embargo on food effective from August of 2014. Further, imports from Russia have not
significantly changed until second quarter of 2022, when the EU put Russia under a strict and
wide-ranging sanction regime as a respond to the Russian invasion of Ukraine in February
2022. Our main explanation for why it has not decreased earlier is that the goods the
Scandinavian countries imported to Russia were not directly included in the sanction
programs. We do not see any change in trade in periods where new sanctions are not imposed.nhhma
Kan selskapslederens kjønn ha innflytelse på revisors profesjonelle skepsis? En eksperimentell studie
Get PDFRevisor er allmenhetens tillitsperson og innehar en viktig rolle som bekjemper av økonomisk
kriminalitet. Lovverket understreker at profesjonell skepsis er en vesentlig holdning i
etterlevelsen av denne rollen. Litteraturen foreslår imidlertid at revisors profesjonelle skepsis
kan bli påvirket av ulike faktorer.
Denne masteroppgaven utforsker den potensielle påvirkningen av kjønnet til
ledelsesrepresentanten hos klienten på revisorers profesjonelle skepsis i revideringen knyttet
til hvitvasking. Forskningen benyttet en eksperimentell tilnærming ved å bruke
spørreskjemaer for å samle inn data. Utvalget bestod av 33 deltakere som var masterstudenter
i regnskap og revisjon ved universiteter og høyskoler i Norge. De innsamlede dataene ble
analysert ved hjelp av Statistical Package for the Social Sciences (SPSS).
Spesifikt testes hypotesene om at revisorer har høyere tillit til kvinner og utviser høyere grad
av profesjonell skepsis overfor menn. Resultatene viste interessante funn, men ga imidlertid
ingen bekreftelse av hypotesene. Studien finner heller ikke at revisors kjønn påvirker forholdet
mellom klientkjønn og profesjonell skepsis. Designet, utformingen og analysen av studien
forblir imidlertid upåvirket, og man vil likevel oppnå et læringsutbytte fra masteroppgaven
som inkluderer forståelse av forskningsprosessen, anvendelse av metoder og analyseverktøy,
samt evnen til å trekke konklusjoner og diskutere begrensningene ved egen forskning.
Mens tidligere forskning har antydet potensielle skjevheter i profesjonell vurdering,
understreker resultatene fra denne studien behovet for videre undersøkelser og en mer nyansert
forståelse av faktorene som påvirker revisors beslutningsprosesser. Studiefunnene åpner
muligheter for videre undersøkelser av faktorer som påvirker revisors profesjonelle skepsis
med inkludering av flere aspekter ved revisors rolle som bekjemper av økonomisk kriminalitet.
Videre er det foreslått å studere hvorvidt ledelsens kjønn påvirker revisor på andre måter i
revisjonen, herunder profesjonelt skjønn, uavhengighet, integritet og objektivitet. Denne
studien tjener som et fundament for fremtidige undersøkelser innen regnskap og revisjon, med
mål om å forbedre forståelsen av revisorers profesjonelle skepsis og dens komplekse forhold
til kjønn.nhhma
Empirical Analysis of Charterers’ Willingness to Pay for Energy Efficiency : A Study on Time Charter Contract Rates in the Dry Bulk Market and GHG Ratings by RightShip
Get PDFThis thesis investigates whether charterers value energy efficiency in the dry bulk time charter
(TC) market using greenhouse gas (GHG) emissions ratings from RightShip and TC fixtures from
Western Bulk and Clarksons Shipping Intelligence Network (SIN). An energy efficiency premium
in the TC market would incentivize shipowners to invest in energy efficiency technology as they
would recoup some or all their investment, strengthening the investment case. Energy efficiency
technology on ships allows less fuel consumption for the same speed, effectively reducing harmful
emissions (IMO, 2023). Therefore, an increased adaptation of such technology would help the
shipping industry to contribute to the worldwide effort to lower carbon emissions.
Applying different multiple linear regression models to the size segments Handysize, Panamax,
Capesize, and Supramax, we find no statistically significant energy efficiency premium for any
segments. This implies that charterers are unwilling to pay for energy efficiency in the TC market.
A TC contract facilitates dynamics that can create principal-agent problems between the shipowner
and the charterer. We identify the presence of split incentives and information asymmetry between
the contract parties, which can ultimately lead to market failure resulting in a lack of energy
efficiency investments by shipowners. It is necessary that the International Maritime Organization
(IMO) and the European Union (EU) implement policies that help unite the incentives of the
shipowner (principal) and charterer (agent) and equalize the information asymmetries between the
two to correct for inefficient market outcomes. Therefore, the EU Monitoring, Reporting, and
Verification (MRV) and the IMO 2023 regulations can make a difference.
On the other hand, we find a discount for vessels with below average energy efficiency
performance in the Handysize and Supramax segments, showing that a relative lack of energy
efficiency technology is penalized. This could incentivize shipowners to invest in energy
efficiency as they would otherwise have to accept a discount, lowering their revenue potential.
However, no publicly available cut-offs on energy efficiency performance by charterers exist, and
there is a low adaptation rate of energy efficiency technology in the shipping industry. Our data
sample has weaknesses in terms of size and biased sampling, making the discount representative
of one charterer, Western Bulk, rather than the whole market.nhhma