Search results for "leverage"
showing 10 items of 100 documents
Food community networks as leverage for social embeddedness
2013
Social embeddedness, defined as the interaction of economic activities and social behavior, is used in this study as a conceptual tool to describe the growing phenomenon of food community networks (FCNs). The aim in this paper was to map the system of relations which the FCNs develop both inside and outside the network and, from the number of relations, it was inferred the influence of each FCN upon the formation of new socially embedded economic realities. A particular form of FCN was taken under consideration: solidarity purchase groups (SPGs). Performed with the aid of social network analysis on a sample of SPGs in Sicily (a region in southern Italy), the study allowed us to identify a r…
Intellectual Property and Leverage: The Role of Patent Portfolios
2019
This paper analyses the importance of intellectual property in determining capital structure decisions. We argue that firms can use their patent stock as collateral and thereby relax possible debt financing restrictions. Using data from the European Patent Office and balance sheet data of European companies, we find that larger and more valuable patent stocks lead to higher debt-ratios - controlling for well-established capital structure determinants. We further assess variation across as well as within industries and show that effects are mainly driven by tech-oriented and research intensive firms. Drawing on a legislative change in EU- law, allows us to establish a causal relationship bet…
The Cyclicality of Bank Credit Losses and Capital Ratios under Expected Loss Model
2023
We model the evolution of stylised bank loan portfolios to assess the impact of IFRS 9 and US GAAP expected loss model (ECL) on the cyclicality of loan loss provisions (LLPs), realised losses and capital ratios of banks, relative to the incurred loss model of IAS 39. We focus on the interaction between the changes in LLPs charges (the flow channel) and stocks (the stock channel) under ECL. Our results show that, when GDP growth doesn’t demonstrate high volatility, ECL model smooths the impact of credit losses on profits and capital resources, reducing the pro-cyclicality of capital and leverage ratios, especially under US GAAP. However, when GDP growth is highly volatile, the large differen…
Dealing with the Public Debt Burden. A system dynamics approach to implementing sustainable financial policies in the Italian State
2012
In the last decades in several mature democracies the problem of debt emerged as a violation of intergenerational equal treatment due to high expenditures concentration and dilution of costs by mean of debt creation. So far this issue has been analyzed from a statistical and a socio-economic perspective, which identified the high political interference as the main dysfunction of country debt management. There are no studies which frame the issue by focusing on State institutions as performance-oriented organizations, according to this perspective such organizations have to respect dynamically trade-off between development and the debt reduction through a mix of levers such as: funds acquisi…
The influence of online professional social media in human resource management: A systematic literature review
2020
Professional social media platforms (PSMs), including LinkedIn, have created better opportunities for students and employees to advance their career aspirations. Though PSMs seem to be an effective human resource management (HRM) tool, in order to leverage PSMs effectively, it is strategically essential to incorporate research inputs from both the employers' and the individuals’ perspectives. Realizing this, academic researchers have been interested in PSMs since the previous decade. However, research on PSMs and their effectiveness continues to be in the embryonic stage. To catalyze scholarly interest and provide a foundation for formulating sound theoretical propositions for the efficient…
Organizational Learning to Leverage Benefits Realization Management; Evidence from a Municipal eHealth Effort
2017
Part 3: Organizational Aspects; International audience; While work with benefits realization requires organizational learning to be effective, emphasis on organizational learning is hard to find in benefits realization studies. To remedy this research gap, we study how organizational learning theory can contribute to improve benefits realization processes. A qualitative approach was used to gain in depth understanding of benefits realization in an ICT healthcare services project. We found that individual learning is present, but organizational learning has not been given explicit attention neither in the project nor in the literature of benefits realization management. We argue that the ind…
How Smart Cities Explore New Technologies
2019
The concept of smart city is considered as a new paradigm of urban development. Information and communication technologies are expected to transform cities into smart cities and improve the citizens’ quality of life. However, smart city initiatives still have difficulties to leverage value from technology opportunities. How smart city initiatives examine the possibilities of new technologies is therefore a highly interesting question. Based on a multiple case study we identify two different approaches and factors that influence the choice of approach: Cities either initially focus on use cases solving urban challenges, or on a systematic build-up of a technological platform for future use c…
Internal Software Startups - A Multiple Case Study on Practices, Methods, and Success Factors
2020
Startups are often seen as drivers of innovation. In an attempt to leverage this potential, larger business organizations have founded internal startups as a subset of internal corporate ventures (ICV). These smaller organizations are intended to be more agile than the parent organization, in order to produce new service and product innovations using their own methods and practices independently of the organizational culture and methods of the parent organization. However, our understanding of ICVs is still lacking in terms of processes and success factors, and especially the more recent internal startups have scarcely been studied thus far. To approach this novel area of research, we take …
Design, Implementation, and Evaluation of a Virtual Meeting Tool-Based Innovation for UML Technology Training in Global Organizations
2012
End-user training is complicated to implement in global corporations whose activities are typically scattered across multiple sites in different countries and leverage information systems in various ways. This is especially true in global software development where the sites may leverage a development tool for totally different purposes. Web-based Virtual Meeting Tools (VMT) enable synchronous communication globally through interactive audio, online chats, video, and the sharing of presentations. They provide potentially a cost effective way to train even complex topics to large numbers of people in global settings. Few industrial experiences from the design and use of VMT-based training in…
EXPLORATION, EXPLOITATION AND INCENTIVES TO INNOVATE: THE DISCIPLINING ROLE OF DEBT
2014
Extant research suggests that when compared to equity, debt financing is less conducive to innovation activities. In this paper we challenge this view by suggesting that although equity sustains innovation by allowing risk-taking and experimentation, it may also encourage the pursuit of exploration at the expense of exploitation. Under these circumstances, the stricter governance associated with debt becomes important as it stimulates managers to shift resources towards exploitation in order to mitigate risk and improve short-term pay-offs. In support of these arguments our empirical analysis shows that, while leverage has a negative impact on standard measures of innovation quantity and qu…