Shadow Financial Regulatory Committee statements

Shadow Financial Regulatory Committee statements     

Sharing my way to success: A case study on developing entrepreneurial ventures using social capital in an OSS community

While Open Source Software (OSS) communities provide opportunities for knowledge creation, we have a limited understanding of how entrepreneurs leverage OSS communities for their entrepreneurial ventures. Using social capital theory in a mixed methods case study, we compare entrepreneur and non-entrepreneur behaviors to investigate how entrepreneurs build social capital within an OSS community. This study shows that entrepreneurs differentiate themselves from non-entrepreneurs by focusing on cognitive and relational capital building activities, which in return makes it possible for them to leverage their social capital to influence and shape the environment in which they are operating. Our findings suggest that entrepreneurs strategically select which activities within the community to expend their limited resources on (e.g., developing code over participating in email conversations) and build their social capital more through their actions than through their words (e.g., showing their commitment to the community through code commits, bug fixes, and documentation). Given the liabilities of newness and smallness as well as other challenges faced by entrepreneurs, applying an open innovation strategy in OSS communities could be one approach where entrepreneurs, by developing and freely revealing their intellectual property to the community, share their way to success via OSS-infused entrepreneurial business ventures.     

LOGISTICS INNOVATION: A CUSTOMER VALUE‐ORIENTED SOCIAL PROCESS

This paper reports on a qualitative, grounded theory research project conducted in the United States, Sweden, and The United Kingdom designed to explore logistics innovation as perceived by leaders of logistics service provider firms and logistics business functions within product focused firms. Analysis of 33 depth interviews conducted within seven organizations revealed activities that reflect multiple aspects of being innovative, including: (1) setting a stage for innovation; (2) identifying clues to shifts in what customers value; (3) negotiating, clarifying, and reflecting upon insights; and (4) managing inter‐organizational learning.     

TESTING FOR STATIONARITY WITH A BREAK IN PANELS WHERE THE TIME DIMENSION IS FINITE

In this paper, we consider the case of finite time dimension in the panel stationarity tests with structural breaks. By fixing T, the finite sample properties of the tests for both micro (T small and N large) and macro (both T and N large) panel data are generally greatly improved. More importantly, the derivation of the tests for finite T and , as opposed to joint asymptotic where N and simultaneously, avoids the imposition of the rate condition making the test valid for any (T, N) blend. Four models corresponding to the usual combination of breaks are considered. The asymptotic distributions of the test are derived under the null hypothesis and are shown to be normally distributed. Their moments for T fixed are derived analytically employing Ghazal’s corollary 1. The case with unknown breaks is also considered. The proposed tests have generally empirical sizes that are very close to the nominal size. The Monte Carlo simulations show that the power of the test statistics increases substantially with N and T.     

The seasoned executive's decision-making style

Leaders make decisions every day of their lives, but how they do it changes dramatically over the course of their careers. At lower levels, the job is to get widgets out the door; action is at a premium. At higher levels, the job involves decisions about which widgets to offer and how to develop them. To climb the corporate ladder and be effective in new roles, managers need to change the way they use information and evaluate options. Based on a study of the decision-making profiles of more than 120,000 executives, the authors found that people make decisions very differently in public than they do in private and that the decision styles of successful managers evolve in highly predictable patterns. The most successful managers and executives become increasingly open and interactive in their leadership (or public) styles, and more analytic in their thinking (or private) styles, as they progress in their careers. The research shows that decision-making profiles do a complete flip over the course of a career; that is, the decision profile of a successful CEO is the opposite of a successful first-line supervisor's. When does the major change in focus occur? Somewhere between the manager level and the director level, executives find that formerly effective decision styles no longer work so well. At this point, decision styles fall into a "convergence zone", where managers use all styles more or less equally. From then on, the executives continue to evolve their styles. The most successful managers come to the convergence zone quickly and continue to adjust their styles as their careers progress. Low performers seem to stagnate once they hit the convergence zone; their styles do not evolve in new directions. Clearly, relying on past successes and habits is no guarantee of success-indeed, it may be the road to failure.     

Celling The Concept: A Study of Managerial Brand Mindsharing of A Distributed Biobanking Research Infrastructure

This interview study investigates how managers/associates of a failed distributed large-scale Research Infrastructures perceived their brand and the role mindsharing played in light of the organisation’s ultimate failure. Specifically, the study looks at BioBanking and Molecular Resource Infrastructure in Sweden (BBMRI.se), an organisation that involved collaboration between several medical and technical universities and sought to harmonise biobanking in Sweden. The aim was to discern the respondents’ degree of mindsharing in regards to their perception of the organisational brand. The four stages the branding process investigated were: Brand Strategic Analysis, Brand Identity, Brand Operationalising, and Post-Implementation Reflections. The results indicated that the mindsharing was present at the initial two stages, but dissipated throughout the ensuing two final stages, resulting in a fragmented brand perception, thereby forgoing the ability of generating a “pull-effect” for the BBMRI.se brand. The study’s implication is for branding to account more for social and individual motivations and less for instrumental motivations, e.g. mission statements.     

Discretely sampled variance and volatility swaps versus their continuous approximations

Discretely sampled variance and volatility swaps trade actively in OTC markets. To price these swaps, the continuously sampled approximation is often used to simplify the computations. The purpose of this paper is to study the conditions under which this approximation is valid. Our first set of theorems characterize the conditions under which the discretely sampled swap values are finite, given that the values of the continuous approximations exist. Surprisingly, for some otherwise reasonable price processes, the discretely sampled swap prices do not exist, thereby invalidating the approximation. Examples are provided. Assuming further that both swap values exist, we study sufficient conditions under which the discretely sampled values converge to their continuous counterparts. Because of its popularity in the literature, we apply our theorems to the 3/2 stochastic volatility model. Although we can show finiteness of all swap values, we can prove convergence of the approximation only for some parameter values.     

Shadow Financial Regulatory Committee statements

Shadow Financial Regulatory Committee statements