Where Firm‐Level Innovation and Industrial Policy Meet: Consensus Roadmaps for Low‐Carbon Powertrain Technologies

Environmental mandates, energy security concerns, and societal demands place considerable pressure on automotive manufacturers to develop novel powertrain technologies that reduce energy consumption, and in turn, carbon emissions. The economic case for these novel technologies is far from clear, however, and firms often turn to the respective national governments for R&D aid and demand‐side subsidies. Government on the other hand often feels unable to back any single technology for competition regulatory reasons, while at the same time being presented with conflicting messages from industry where to focus its support. This paper reports on an initiative by the U.K. Government that led to the establishment of a permanent forum for government‐industry exchange, the Automotive Council U.K., in which the author has participated from the outset. In the course of the Council's work, two “consensus roadmaps” have been developed jointly by industry and the U.K. Government to guide national efforts in the transition for both passenger car and commercial vehicle powertrain technologies toward low‐carbon alternatives. This paper discusses the key technological development stages and projections outlined in these technology roadmaps and comments on the general determinants of an effective interaction between government and industry in the light of a technological discontinuity.     

Mandatory IFRS adoption and analyst forecast accuracy: the role of financial statement-based forecasts and analyst characteristics

Review of Accounting Studies - This study examines whether the improvement in analyst forecast accuracy around mandatory IFRS adoption is associated with the improvement in the accuracy of...     

Normfare: Norm entrepreneurship in internet governance

This special issue is the first to systematically address the activity we call “normfare” - the assiduous development of norms of very different character (public and private, formal and informal, technically mediated and directly implemented) by different actors (platforms, standard-setters, states) as an answer to the wide range of challenges facing internet governance. We bring together contributions from leading anthropologists, technologists, political scientists, legal and communication scholars exploring how norms underpin the new ordering of the internet, whether in explicit or implicit forms. Through various theoretical lenses, contributions analyze the impact of platforms, states, civil society, expert groups and key individuals on restructuring the normative order of the internet, and present empirical evidence for instances of norm creation, legitimation, contestation and opposition. Valuable new insights for norm development processes come from case studies, ethnographies, legal and discourse analysis and interdisciplinary approaches locating agency and power plays. In this introduction, we define the key concepts applicable to norm entrepreneurship and discuss their interplay in internet governance debates, followed by an overview of the articles included in the special issue. In the final section, we reflect on the implications of our new research agenda.     

War for talents—How perceived organizational innovativeness affects employer attractiveness

Recruiting high potentials is the foundation for creating knowledge, innovation and competitive advantages. Unfortunately, many companies face the problem of having a hard time recruiting high potentials in a tightening labor market. To secure future innovation, growth and competitiveness companies must be attractive for potential employees. Within this respect, past research suggests that innovative companies might be at an advantage as they appear more attractive to employees in general and to those with an innovative personality in specific. Hence, HR communication might use an organization's innovativeness within employer branding to attract high potentials. However, current literature falls short to provide empirical evidence on whether and how the communication of organizational innovativeness affects employer attractiveness and especially attracts innovative employees. The results of our scenario-based experiment (n = 322) show that organizations with an innovative product portfolio and a strong innovation culture appear more attractive to potential employees. These effects turned out to be even stronger for employees which are highly innovative as they care a great deal about the organizational innovativeness of the company they work for. Thus, our findings suggest that communicating organizational innovativeness within employer branding is an effective measure not only to improve employer perceptions in general, but also to attract innovative employees.     

EU Commission versus Volkswagen: New Evidence on Price Differentiation in the European Car Market

This paper is motivated by the large fine the EuropeanCommission imposed on Volkswagen in January 1998 forobstructing sales to foreigners. The first partdiscusses the competitive framework in which the carsector operates, especially the exclusive dealershipsystem. This is followed by a detailed examination ofthe degree of price-differentiation across nationalmarkets by 24 major manufacturers. The evidencereveals VW and Audi not to be special cases. Thisfinding implies that the Commission should reconsiderits own block exemption if it wants to establisha more competitive car market along the principles ofthe Common Market.     

A contemporary justice perspective on dual ladders for R&D professionals

Research and development (R&D) professionals play a key role in companies' innovation performance. Whereas prior research has indicated the potential benefits of dual ladder career systems to retain and motivate R&D professionals, there is a lack of knowledge regarding the design properties of dual ladders that facilitate such positive effects. The purpose of this study is to address this research gap by exploring how organizations can design dual ladders to enhance R&D professionals' organizational commitment and career satisfaction. Drawing on contemporary justice theory, we point to two factors integral for the successful application of dual ladders: the perceived equality of the technical ladder and the transparency of the dual ladder. These factors are related to R&D professionals' organizational commitment and career satisfaction. Furthermore, this study investigates whether these relationships are moderated by R&D professionals' age and self‐directedness in career management as well as firm size. The hypotheses are tested in a cross‐level study with 9 heads of R&D departments, 32 human resource managers, and 382 R&D professionals from 32 organizations. Based on the analyses, this study finds positive relationships between the perceived equality and the transparency of the dual ladder with R&D professionals' organizational commitment and career satisfaction. In addition, the findings show that the effects of the perceived equality of the technical ladder on R&D professionals' career satisfaction are weaker at high levels of self‐directed career management. The study contributes by developing theory on the consequences of dual ladders' design properties and moderating influences thereon. Thus, this research has implications for the literature on innovation management by expanding the knowledge on the interplay between career management and the human side of innovation.     

Are There Rational Bubbles in REITs? New Evidence from a Complex Systems Approach

This study applies a complex systems approach to test for the presence of rational bubbles in the Equity REITs market. The applied model is based on theoretical implications of the evolution of prices under rational bubble regimes. The advantage of the approach is twofold. The model is able to detect rational bubbles while they rise and to predict the most likely time of their collapse. We apply the model to daily price data on U.S. Equity REITs from 1989 to 2011. Our findings suggest the existence of a bubble for the period of 2003 to 2007. Tests for sub-markets reveal that the bubble developed in the Residential REITs market, but not in the Office REITs market.     

PowerPlay: Exploring decision making behaviors in energy efficiency markets

Computer models are widely used to analyze decisions about energy efficiency improvements in the residential and commercial sectors. Few models exist that can actually be run interactively by decision makers to play out alternative future scenarios. None are available that interactively capture the dynamics, subtleties and complexities of interdependent decisions by utilities, households and firms in an ever-changing technological and economic environment.This paper presents the features and experiences of PowerPlay, a computer-facilitated game which fills that gap and does more: it is a game to be played by at least a dozen player groups who interact with each other, make deals (or break them), plan for the future and revise decisions. The computer model functions like a game board to trace actions and offer choices. The observed behaviors can be analyzed to advance understanding of investment strategies and consumer choices; to generate experimentally-based data on energy efficiency changes; and to provide the basis for analyses that can substantiate or complement historical, time-series driven specifications of energy models.