Catalogue Search | MBRL
Are you sure you want to remove the book from the shelf?
{{itemTitle}}
57
result(s) for
"Finanzinnovation"
Sort by:
Customer Participation and the Trade-Off between New Product Innovativeness and Speed to Market
To address the trade-off between new product innovativeness and speed to market caused by customer participation activities, the author differentiates two dimensions of customer participation-customer participation as an information resource (CPI) and customer participation as a codeveloper (CPC)-and explores the moderating effects of downstream customer network connectivity and new product development process interdependence and complexity. Matched data collected from 143 customer-component manufacturer dyads indicate that CPI has a negative influence on innovativeness when downstream customer network connectivity is high but a positive effect when it is low. In contrast, CPI has a positive effect on speed to market when downstream customer network connectivity is high and no significant effect when it is low. In addition, CPC undermines new product speed to market when process interdependence is high. In contrast, CPC can improve new product speed to market but hurt new product innovativeness when process interdependence is low. The results of this article provide specific managerial guidelines as to how to manage customer participation to improve new product innovativeness and speed to market.
Journal Article
Pay What You Want: A New Participative Pricing Mechanism
Pay what you want (PWYW) is a new participative pricing mechanism in which consumers have maximum control over the price they pay. Previous research has suggested that participative pricing increases consumers' intent to purchase. However, sellers using PWYW face the risk that consumers will exploit their control and pay nothing at all or a price below the seller's costs. In three field studies, the authors find that prices paid are significantly greater than zero. They analyze factors that influence prices paid and show that PWYW can even lead to an increase in seller revenues.
Journal Article
How Customer Portfolio Affects New Product Development in Technology-Based Entrepreneurial Firms
This article focuses on how the customer portfolios of technology-based entrepreneurial firms affect new product development. Drawing on knowledge-based, resource dependence, and relational theories, the authors argue that the impact of a firm's customers on new product development depends on the size and relational embeddedness of the customer portfolio and the extent to which the firm is dependent on one or a few dominant customers for a majority of its revenues. The authors test the research model using longitudinal data on young firms operating in business-to-business markets in six technology-based industries. The results indicate that customer portfolio size has an inverse U-shaped relationship to the number of new products developed and that the more relationally embedded the customer set, the more new products the firm develops. Dependence stemming from revenue concentration has a negative impact on new product output. Furthermore, the authors find that relational embeddedness can compensate for too small of a customer portfolio and can help offset the negative effects of a highly concentrated portfolio. These results make important theoretical and empirical contributions to the new product development literature, helping uncover some of the antecedents of innovative productivity particularly relevant for young, technology-based firms. The results also contribute to the broader discourse on how customers affect new product development.
Journal Article
Flow Signals: How Patterns over Time Affect the Acceptance of Start-Up Firms
This study introduces the concept of flow signals - patterns of a firm's attributes over time - and contrasts them with point signals discussed in the literature to date. Three properties of flow signals are delineated: displacement, propensity, and reversals. The authors illustrate these properties using a start-up's research-and-development (R&D) spending and voluntary disclosure flows. The authors argue that the flow signal properties affect prospective customers' perceptions of a start-up's current and future product quality, thus influencing their purchase likelihood and, ultimately, the start-up's growth in sales. The findings, obtained from panel data comprised of U.S. venture-backed firms that went public in 2001-2005, suggest that sales growth is positively affected by displacement and propensity of both R&D spending and voluntary disclosures and negatively affected by R&D spending reversals. Furthermore, these effects are stronger for the relatively younger start-ups. [PUBLICATION ABSTRACT]
Journal Article
Capital and the Common Good
Despite social and economic advances around the world, poverty and disease persist, exacerbated by the mounting challenges of climate change, natural disasters, political conflict, mass migration, and economic inequality. While governments commit to addressing these challenges, traditional public and philanthropic dollars are not enough. Here, innovative finance has shown a way forward: by borrowing techniques from the world of finance, we can raise capital for social investments today. Innovative finance has provided polio vaccines to children in the DRC, crop insurance to farmers in India, pay-as-you-go solar electricity to Kenyans, and affordable housing and transportation to New Yorkers. It has helped governmental, commercial, and philanthropic resources meet the needs of the poor and underserved and build a more sustainable and inclusive prosperity. Capital and the Common Good shows how market failure in one context can be solved with market solutions from another: an expert in securitization bundles future development aid into bonds to pay for vaccines today; an entrepreneur turns a mobile phone into an array of financial services for the unbanked; and policy makers adapt pay-for-success models from the world of infrastructure to human services like early childhood education, maternal health, and job training. Revisiting the successes and missteps of these efforts, Georgia Levenson Keohane argues that innovative finance is as much about incentives and sound decision-making as it is about money. When it works, innovative finance gives us the tools, motivation, and security to invest in our shared future.
Book
Financing Innovation and Sustainable Development in Africa
This book derives from a symposium held at Cornell University in April 2014. The symposium explored development financing, which has become an important area of policy discussion in Africa and other developing areas in recent years. Using multifaceted and multidisciplinary analytical approaches, it considers the role of the banking system, the stock market, credit access, external aid, and sovereign wealth funds in the evolving development finance architecture. Further, the volume looks at China's role as an aid donor, the impact of BRICs partnerships in South Africa, the role of NEPAD in mobilizing resources for infrastructure development, and the links between law, trade, and regional integration. The study concurs with previous analyses that greater access to credit by the poor represents the most effective way of fighting poverty and raising the standards of living in Africa. Cornell's Institute for African Development and the African Development Bank were cosponsors of the 2014 symposium.
eBook
An Explicit, Multi-Factor Credit Default Swap Pricing Model with Correlated Factors
With the recent significant growth in the single-name credit default swap (CDS) market has come the need for accurate and computationally efficient models to value these instruments. While the model developed by Duffie, Pan, and Singleton (2000) can be used, the solution is numerical (solving a series of ordinary differential equations) rather than explicit. In this paper, we provide an explicit solution to the valuation of a credit default swap when the interest rate and the hazard rate are correlated by using the “change of measure” approach and solving a bivariate Riccati equation. CDS transaction data for the period 2/15/2000 through 4/8/2003 for 60 firms are used to test both the goodness of fit of the model and provide estimates of the influence of economic variables in the market for credit-risky bonds.
Journal Article
Stochastic filtering with applications in finance
This book provides a comprehensive account of stochastic filtering as a modeling tool in finance and economics. It aims to present this very important tool with a view to making it more popular among researchers in the disciplines of finance and economics. It is not intended to give a complete mathematical treatment of different stochastic filtering approaches, but rather to describe them in simple terms and illustrate their application with real historical data for problems normally encountered in these disciplines. Beyond laying out the steps to be implemented, the steps are demonstrated in the context of different market segments. Although no prior knowledge in this area is required, the reader is expected to have knowledge of probability theory as well as a general mathematical aptitude.
eBook