Using data on a broad international sample of listed, private, and non-profit entities, we explore the influence of risk management value creation objectives on the incorporation of risk considerations in planning and control systems. The combination of detailed survey responses and archival...

There are various valuation methodologies applicable to both the financial evaluation of projects as to the valuation of companies. First, have developed methods of Discounted Cash Flows (DCF), which allow discounting, or bring to present value, a series of projected future cash flows over time....

Methodological individualism is the doctrine that economic or social phenomena are ultimately grounded in individual knowing and choice. Recently numerous collective concepts have been introduced into our thinking about the firm - absorptive capacity, communities of practice, dynamic...

We examine whether fair value (FV) input levels and estimation sources are related to FV inflation, the difference between an insurer's FV estimate and the consensus FV estimate across the security's holders. FV inflation is higher and self-estimation more likely, when insurers report using...

The rise of the knowledge economy has far-reaching implications for the nature of economic organization as well as firm strategy. Not surprisingly, thinking in management studies as well as in economies has been profoundly affected by these changes. Thus, management thinking in particular has...

The purpose of this paper is to analyze how universities can develop dynamic capabilities based on their strategic resources in order to increase their competitiveness in the knowledge economy. ”Dynamic capabilities” is a concept introduced by Teece, Pisano, and Shuen (1997) to emphasize the...

Hidden Champions (HCs) are firms unknown to the wider public, but global leaders in the niche markets they serve. This paper looks at distinctive features of these firms, focusing on their dynamic capabilities. Employing a unique data base on German firms, we identify a representative sample of...