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Article
Publication date: 8 February 2016

Elias Bengtsson

This paper aims to consider the role of investment funds in the credit intermediation process and discuss various forms of systemic risk their involvement might give rise to. It…

2197

Abstract

Purpose

This paper aims to consider the role of investment funds in the credit intermediation process and discuss various forms of systemic risk their involvement might give rise to. It concludes by drawing some conclusions on the policy challenges facing authorities charged with regulating shadow banking.

Design/methodology/approach

The paper is based on findings from prior research and statistics.

Findings

On a general level, the paper shows that even though traditional investment funds and hedge funds may be very different in terms of their investment strategies and business models, some of them share several commonalities from a systemic risk perspective. More specifically, it discusses how instability in the funding profile of investment funds may threaten their ability to substitute banks’ maturity and liquidity transformation; that their potential funding liquidity shortages, asset reallocations and leverage may contribute to procyclicality in credit and market runs on the systemic money and short-term credit markets; and that insufficient risk separation may elude managerial and supervisory oversight, and force banks to reduce or interrupt credit intermediation.

Research limitations/implications

The paper points to the lack of timely and comprehensive data for uncovering the stages and entities involved in shadow banking. Without sufficient data, the task of policy bodies, regulators or macroprudential authorities to fully grasp shadow banking and its contribution to systemic risk is daunting.

Originality/value

The paper represents (to the author’ knowledge) the first analysis of the role of investments in shadow banking.

Details

Journal of Financial Regulation and Compliance, vol. 24 no. 1
Type: Research Article
ISSN: 1358-1988

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Article
Publication date: 22 May 2007

Nerijus Mačiulis, Vaiva Lazauskaitė and Elias Bengtsson

The purpose of this paper is to evaluate and compare performances of three Nordic (Sweden, Denmark, Finland) and three Baltic (Lithuania, Latvia, Estonia) exchanges.

1543

Abstract

Purpose

The purpose of this paper is to evaluate and compare performances of three Nordic (Sweden, Denmark, Finland) and three Baltic (Lithuania, Latvia, Estonia) exchanges.

Design/methodology/approach

Portfolio performance is estimated using two different approaches: traditional measures – Sharpe, Sortino and Treynor ratios; and alternative measures – reward to value‐at‐risk and reward to expected tail loss (RETL).

Findings

The findings highlight the differences and similarities in Nordic and Baltic stock exchanges and their performance trends after creation of common marketplace OMX. Returns of Baltic, like Nordic, exchanges are normally distributed. During the period of 2000‐2006, Baltic exchanges outperformed Nordic exchanges.

Research limitations/implications

The research is limited to six stock exchanges that are members of common marketplace OMX. Proposed alternative performance measures did not diverge from traditional approaches, because, apparently, Baltic exchanges offer normally distributed returns and should not be considered emerging markets. These measures should be further tested in developing and emerging markets.

Originality/value

The findings have both theoretical and practical implications. To the authors' best knowledge, it is the first public attempt to estimate performance of Baltic and Nordic exchanges in the context of modern portfolio theory and, alternatively, new science of risk management (value at risk and expected tail loss). The paper argues for the usage of an alternative measure for performance valuation – RETL. Furthermore, the paper discuses merits and limitations of different approaches to risk and performance measurement.

Details

Baltic Journal of Management, vol. 2 no. 2
Type: Research Article
ISSN: 1746-5265

Keywords

Available. Content available
Article
Publication date: 12 September 2008

959

Abstract

Details

Baltic Journal of Management, vol. 3 no. 3
Type: Research Article
ISSN: 1746-5265

Available. Content available

Abstract

Details

Baltic Journal of Management, vol. 2 no. 2
Type: Research Article
ISSN: 1746-5265

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Article
Publication date: 22 July 2020

Huanhuan Chen, Yanhong Yao, Ao Zan and Elias G. Carayannis

Building on the resource- and knowledge-based views, this paper aims to explore how coopetition affects radical innovation and the roles of knowledge structure and external…

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Abstract

Purpose

Building on the resource- and knowledge-based views, this paper aims to explore how coopetition affects radical innovation and the roles of knowledge structure and external knowledge integration in the relationship between coopetition and radical innovation.

Design/methodology/approach

This study proposes a research model to examine the mediating role of external knowledge integration on the coopetition-radical innovation link, where the mediation is moderated by the firm’s knowledge structure (including component knowledge and architectural knowledge). The authors use regression and bootstrapping to test the proposed model with survey data from 241 Chinese technology firms.

Findings

This study finds that coopetition positively affects radical innovation and the effect is fully mediated by external knowledge integration. Additionally, component knowledge negatively moderates the coopetition-external knowledge integration link and architectural knowledge positively moderates this relationship. Further, the mediating effect of external knowledge integration is also moderated by component knowledge and architectural knowledge.

Practical implications

Firms should engage in coopetition to promote radical innovation. Further, it is necessary for firms to appropriately manage coopetition according to their internal knowledge structure.

Originality/value

This study explains why scholars have different ideas about the relationship between coopetition and radical innovation by exploring the mediating role of external knowledge integration and the moderating effect of knowledge structure. Firms possess increased possibilities for knowledge leakage and partner opportunism with high levels of component knowledge, which will reduce the positive effect coopetition on external knowledge integration; thus, they are less likely to realize radical innovation. Instead, firms possess increased opportunities for resource sharing with high levels of architectural knowledge, thus improving the positive effect coopetition on external knowledge integration and they are more likely to achieve radical innovation.

Details

Journal of Business & Industrial Marketing, vol. 36 no. 11
Type: Research Article
ISSN: 0885-8624

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Book part
Publication date: 4 December 2024

Magnus Emmendoerfer and Elias Mediotte

Emerging debates in public policy emphasise sustainability and the role of the Creative Economy in advancing the UN's Sustainable Development Goals within UNESCO Creative Cities…

Abstract

Emerging debates in public policy emphasise sustainability and the role of the Creative Economy in advancing the UN's Sustainable Development Goals within UNESCO Creative Cities (UCC). However, research on ‘coopetition’ – a blend of cooperation and competition – remains sparse within these global networks. This study investigates coopetition under Multilevel Governance in UNESCO-designated tourist destinations, offering a comprehensive examination of its dynamics through a multidimensional, jurisdiction-spanning lens. We uncover disparities within Multilevel Governance structures using a qualitative methodology, including documentary and field research with non-participant observation and thematic content analysis. While cooperation strategies are intended to foster reciprocity among social actors and their organisations, competition prevails, resulting in conflicting goals. This study concludes that the UCC label while promoting coopetition, risks reducing these cities to mere ‘brands’, challenging their legitimacy. This study underscores the complexity of integrating coopetition within UCC governance and its implications for their identity and sustainability objectives.

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Article
Publication date: 2 September 2014

Elias George Carayannis, Audrey Depeige and Stavros Sindakis

The purpose of this paper is to analyze important theoretical work conducted in the research streams of co-opetition and value creation. While innovation is acknowledged as a…

1436

Abstract

Purpose

The purpose of this paper is to analyze important theoretical work conducted in the research streams of co-opetition and value creation. While innovation is acknowledged as a desirable and empirically verified outcome of co-opetition between firms, academic research has not systematically examined value creation outcomes of intra-firm co-opetition. This study aims to explore the nature of co-opetitive relationships within the firm. Processes of knowledge creation, differentiation and evolution are presented in the paper.

Design/methodology/approach

The paper examines and compares co-opetitive dynamics in different contexts, by adopting a multi-level approach to help understand and analyze the complex phenomenon of intra-organizational co-opetition. Value creation in an ecology perspective is discussed to enhance the conceptualization of the Quintuple Helix.

Findings

This paper highlights the role of knowledge differentiation as a driver of value creation. In particular, intra-firm co-opetition dynamics are investigated in relationship with knowledge evolution. A theoretical model is proposed via the Dynamics of Ultra-Organizational Co-opetition and Circuits of Knowledge (DUCCK) framework.

Research limitations/implications

This paper attempts to provide new perspectives on the growing academic field of co-opetition and knowledge creation. It complements previous research in intra-organizational settings and offers an alternative knowledge-based view of organizational value creation.

Practical implications

The paper contributes to develop managers’ practices in understanding potential benefits of intra-organizational co-opetition. The paper also brings additional insights for knowledge management (KM) practitioners, by considering the impact of co-opetition on knowledge dynamics.

Originality/value

This paper explores, adds to the existing theoretical knowledge and contributes to the under-researched topic of intra-organizational co-opetition. This is the first attempt to link internal co-opetition to firm’s KM practices.

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Book part
Publication date: 13 April 2022

Daniel Kilvington, Jonathan Cable, Sophie Cowell, Glyn Mottershead and Chris Webster

This work critically investigates online fan responses towards the implementation of the affirmative action policy, the Rooney Rule, within English professional football. It…

Abstract

Purpose

This work critically investigates online fan responses towards the implementation of the affirmative action policy, the Rooney Rule, within English professional football. It explores systemic and structural racism and the history of the Rooney Rule, before analysing football fans' Twitter comments concerning the policy within English football across an 18-month period.

Design/methodology/approach

This research utilised a bespoke search programme to identify and analyse Tweets which focused on the Rooney Rule in English football. A total of 205 posts were thematically analysed and a series of codes were created.

Findings

The findings illustrated that fans were generally divided over the Rooney Rule. Over half of the participants welcomed counter measures against structural racism although many caveated responses by critiquing the Rule's approach and scope. For others, however, the policy is yet another example of ‘reverse racism’ and ‘political correctness gone mad’. The findings illustrate that there is an undercurrent of hostility towards anti-racist action and a belief that sport is inherently meritocratic and fair.

Originality/value

While much research has focused on examining online reactions to ‘trigger events’, this chapter provides an empirical insight into contemporary football fan responses towards anti-racist action in the ‘beautiful game’. It demonstrates that there are a series of common misconceptions and misunderstandings towards affirmative action policies in sport. Once we become aware of such misunderstandings, we can attempt to remedy them in order to aid the efficacy of anti-racist action.

Details

Sport, Social Media, and Digital Technology
Type: Book
ISBN: 978-1-80071-684-1

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Book part
Publication date: 3 December 2024

Kristiina Urb

Creative industry entrepreneurs successfully exploiting the identified new business opportunities depends on creative and cultural industry (CCI) managers and their collaboration…

Abstract

Creative industry entrepreneurs successfully exploiting the identified new business opportunities depends on creative and cultural industry (CCI) managers and their collaboration with other sectors (nonCCI). The chapter offers a contribution to the creative industry entrepreneurs’ collaboration literature. It strives to understand and exhibit potential themes underlying cognitive mental models of CCI managers concerning collaboration processes with nonCCI. This novel knowledge may be an enabler for smoother and more effective collaboration processes between CCI and nonCCI organisations. The chapter employs an explorative abductive approach with interviews as the primary research method and uses an interpretative phenomenological analysis (IPA). Based on the findings, the chapter proposes a concept map illustrating potential themes of CCI managers’ mental models for collaborations.

Details

Creative (and Cultural) Industry Entrepreneurship in the 21st Century: Policy Challenges for and by Policymakers
Type: Book
ISBN: 978-1-80455-907-9

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Article
Publication date: 21 October 2020

Rida Elias and Bassam Farah

This conceptual paper uses the resource-based theory (RBT) of the firm to argue that for competitors to improve their innovation through a cooperative relationship – coopetitive…

485

Abstract

Purpose

This conceptual paper uses the resource-based theory (RBT) of the firm to argue that for competitors to improve their innovation through a cooperative relationship – coopetitive relationship – they need to work on building a stable relationship with each other by investing a special type of resources, namely locked-in resources.

Design/methodology/approach

The authors draw on RBT criteria to argue that when the antecedent – the locked-in resources – and the mediator – the relationship stability – are valuable, rare, inimitable and organized (VRIO), they will help the parties involved achieve sustained competitive advantage from the coopetitive relationship.

Findings

This paper argues that locked-in resources lead to higher coopetitive relationship stability by reducing the impact of opportunistic behavior from any of the partners. More stable relationship leads to more innovations especially radical innovations. In addition, the nature of the industry plays a moderating role. The industry's competitive intensity affects the relationship between locked-in resources and relationship stability. The industry's age affects the relationship between stability and innovation quantity and type.

Research limitations/implications

This conceptual paper anchors its arguments within the RBT related to the firm's strategic resources (VRIO) characteristics and applies the same arguments (VRIO) beyond the firm level to the coopetitive relationship level. The model invites researchers and practitioners to consider two new constructs namely locked-in resources and coopetitive relationship stability in order to build successful coopetitive relationships.

Practical implications

This paper contributes considerably and in a practical manner to managers as it draws their attention to the importance of investing a special type of resources, namely locked-in resources and ensuring the relationship stability with their coopetitors to achieve the desired outcome. It also draws the managers' attention to the impact industry's competitive intensity and industry's age have on the quality of the relationship and on the innovation outcomes.

Originality/value

A distinct contribution of this conceptual paper is the introduction of two new constructs: locked-in resources and coopetitive relationship stability. Locked-in resources are valuable within the coopetitive relationship and they improve the second construct or relationship stability. Relationship stability is different from relationship strength as it leads to more trust between partners over longer periods of time.

Details

Journal of Strategy and Management, vol. 14 no. 2
Type: Research Article
ISSN: 1755-425X

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