Norwegian School of Economics and Business Administration

www.nhh.no
Bergen, Norway

The Norwegian School of Economics or NHH is a business school situated in Bergen, Norway. Opened in 1936 by King Haakon VII, it is Norway's oldest business school and has since its foundation been a leading Norwegian teaching and research institution in the fields of economics and business administration. The school celebrated its 75th anniversary in 2011.NHH has a strong international orientation. The school participates in exchange programs with more than 130 foreign institutions in over 30 countries, and around 40 percent of the school's students spend at least one semester on exchange. The school is member of CEMS and the Partnership in International Management network, and is accredited by EQUIS.Admission to NHH is the most selective in its field in Norway. For seven years in a row , the NHH undergraduate programme received more applications than any other undergraduate study programme in Norway, and around 20% of applicants are admitted annually. In 2013, NHH received 2265 applications for 450 spots in its undergraduate program. Wikipedia.

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News Article | May 24, 2017
Site: globenewswire.com

Mr. Leiv Kallestad is appointed Chief Financial Officer of the TTS Group ASA. He joins the position as from August 2017. Kallestad (55) is an experienced business executive. He is currently Vice President Norway at Palfinger Marine. Previously he has held executive positions with amongst others, Harding Safety, SR-Bank, Torp LNG and Kverneland Group after almost 20 years with ExxonMobil and ConocoPhillips. He has a degree in Business Administration from Norwegian School of Economics and Business Administration. Kallestad succeeds Mr. Henrik Solberg-Johansen, who resigns as Chief Financial Officer of the TTS Group ASA effective as of the end of July 2017. Solberg-Johansen has been with TTS since August 2013 and will now seek new challenges outside the company. - We are very grateful for Solberg-Johansen's efforts and service to TTS for the past four years and wish him all the best in the future, says Toril Eidesvik, CEO of TTS Group ASA. This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.


News Article | May 24, 2017
Site: globenewswire.com

Mr. Leiv Kallestad is appointed Chief Financial Officer of the TTS Group ASA. He joins the position as from August 2017. Kallestad (55) is an experienced business executive. He is currently Vice President Norway at Palfinger Marine. Previously he has held executive positions with amongst others, Harding Safety, SR-Bank, Torp LNG and Kverneland Group after almost 20 years with ExxonMobil and ConocoPhillips. He has a degree in Business Administration from Norwegian School of Economics and Business Administration. Kallestad succeeds Mr. Henrik Solberg-Johansen, who resigns as Chief Financial Officer of the TTS Group ASA effective as of the end of July 2017. Solberg-Johansen has been with TTS since August 2013 and will now seek new challenges outside the company. - We are very grateful for Solberg-Johansen's efforts and service to TTS for the past four years and wish him all the best in the future, says Toril Eidesvik, CEO of TTS Group ASA. This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.


Hvide H.K.,University of Aberdeen | Moen J.,Norwegian School of Economics and Business Administration
Management Science | Year: 2010

If entrepreneurs are liquidity constrained and not able to borrow to operate on an efficient scale, economic theory predicts that entrepreneurs with more personal wealth should do better than those with less wealth. We test this hypothesis using a novel data set covering a large panel of start-ups from Norway. Consistent with liquidity constraints, we find a positive relation between founder prior wealth and start-up size. The relationship between prior wealth and start-up performance, as measured by profitability on assets, increases in the first three wealth quartiles. In the top wealth quartile, however, profitability drops sharply in wealth. Our findings are consistent with a luxury good interpretation of entrepreneurship and that higher wealth may induce a less alert or a less dedicated management. We conclude that an abundance of resources might do more harm than good for start-ups. © 2010 INFORMS.


Grant
Agency: European Commission | Branch: FP7 | Program: CSA-CA | Phase: SSH.2012.1.2-1 | Award Amount: 1.61M | Year: 2013

The European Union is the worlds largest economic entity, yet its ability to design and implement effective economic policies is not commensurate with its size. While the field of economics has seen an impressive growth, the economic research remains fragmented across the Member States. Developing an efficient research area is essential for growth and to the process of European integration. However, a variety of informal barriers inhibit the free flow of research funding, as a result, the efficient allocation of R&D funding. Research grants can provide a viable tool to circumvent limits to integration and to enhance the exchange of ideas. However, if not designed correctly, research funding can also aggravate the initial problem. This proposal outlines how the European Economic Association will go about creating the COEURE (COoperation for EUropean Research in Economics) network, which will bring together key stakeholders in the European economic research space and funders of research. COEURE will launch a global process that will lead to the formulation of an Agenda for Research Funding for Economics in Europe (ARFEE). First the project involves taking stock of the current state of research in key sub-fields in economics to map out the research frontier and the activities of European researchers. It identifies key open research questions and suggests ways in which research on these issues should evolve, notably to better address the policy challenges that Europe is now facing. Second the project assesses the extent to which mechanisms for funding economic research in Europe have supported research at the frontier in the past, and suggests ways in which they might evolve in the future to support it more effectively. Third the project brings together stakeholders to formulate the ARFEE to ensure that Europe has the appropriate funding mechanisms and the coordination among them.


Grant
Agency: European Commission | Branch: FP7 | Program: MC-ITN | Phase: FP7-PEOPLE-ITN-2008 | Award Amount: 3.61M | Year: 2009

CLARA will train a new generation of linguistic experts who will be able to cooperate across national boundaries on the establishment of a common language resources infrastructure and its exploitation for the construction of the next generation of language models with wide theoretical and applied significance. The scientific objectives of the CLARA research context are twofold: 1. to develop the next generation of data-intensive language models and applications by integrating approaches across language and country boundaries; 2. to contribute to the establishment of a pan-European infrastructure for language resources. CLARA will supplement basic research competencies in the language and text sciences with specialized knowledge and skills in computer science, knowledge engineering, databases, statistical processing and language and speech applications. Participation in advanced research at leading universities will be complemented with additional training at industrial partners contributing to careers in industry.


Timilsina G.R.,The World Bank | Kurdgelashvili L.,University of Delaware | Narbel P.A.,Norwegian School of Economics and Business Administration
Renewable and Sustainable Energy Reviews | Year: 2012

Solar energy has experienced phenomenal growth in recent years due to both technological improvements resulting in cost reductions and government policies supportive of renewable energy development and utilization. This study analyzes the technical, economic and policy aspects of solar energy development and deployment. While the cost of solar energy has declined rapidly in the recent past, it still remains much higher than the cost of conventional energy technologies. Like other renewable energy technologies, solar energy benefits from fiscal and regulatory incentives, including tax credits and exemptions, feed-in-tariff, preferential interest rates, renewable portfolio standards and voluntary green power programs in many countries. The emerging carbon credit markets are expected to provide additional incentives to solar energy deployment; however, the scale of incentives provided by the existing carbon market instruments, such as, the Clean Development Mechanism of the Kyoto Protocol is limited. Despite the huge technical potential, the development and large scale deployment of solar energy technologies world-wide still has to overcome a number of technical, financial, regulatory and institutional barriers. The continuation of policy supports might be necessary for several decades to maintain and enhance the growth of solar energy in both developed and developing countries. © 2011 Elsevier Ltd. All rights reserved.


Hannesson R.,Norwegian School of Economics and Business Administration
Marine Policy | Year: 2011

The high seas fisheries are troubled by overcapacity and lax enforcement of management rules. The idea has emerged that these problems could be dealt with by property rights solutions such as ITQs. Such management tools only emerged after the 200-mile EEZ was established. This made it possible to apply the sovereign state's legislative, enforcement and judiciary apparatus to regulate fisheries. It is argued that without the EEZ such solutions would have been unlikely to emerge, and that a further extension of the EEZ is necessary to apply rights-based regulations to high seas fisheries. The current management regime of high seas fisheries lacks the necessary enforcement apparatus, which makes it necessary to apply trade sanctions, port measures and blacklisting to support regulations of high seas fisheries. It is argued that such measures are likely to be the second best, compared to further extending coastal state jurisdiction. Finally a bioeconomic model is applied to analyze potential gains from cooperation in high seas fisheries. © 2011 Elsevier Ltd.


Hannesson R.,Norwegian School of Economics and Business Administration
Marine Policy | Year: 2013

This paper discusses the development of ITQs in Norway. Even if some would deny that anything such exists, fisheries management in Norway has some unmistakable characteristics of an ITQ system. Both boatowners and policy makers have discovered the attractions of transferable quotas, the former as a means to increase their private profits, the latter as a vehicle to reduce fleet overcapacity. The slow evolution of transferability is mainly the result of ideological opposition and opposition to structural changes, the latter involving falling number of fishermen, changes in location of the fishing industry, and changed composition of the fishing fleet. The development of this system in the purse seine fleet and the fleet fishing for cod and similar species is traced. Then the concept of resource rent is discussed, as well as how it has become capitalized in quota values, which show up as a rise in value of long term assets of the fishing industry. © 2012 Elsevier Ltd.


Grant
Agency: European Commission | Branch: FP7 | Program: MC-IEF | Phase: FP7-PEOPLE-2010-IEF | Award Amount: 190.31K | Year: 2011

This project contributes to the understanding of the impact of financial regulation on securities markets through the development and application of an interdisciplinary approach which combines finance, economics and computer science to study order book and OTC markets. Our research supports regulators in forecasting and quantifying the effect of regulations. The insights gained in this project are highly relevant for policy makers as European competitiveness and growth can be negatively affected if regulations are poorly designed. Despite a dearth of scientific insight into the effects of regulatory measures, short sale bans and financial transactions taxes to curb `speculation have strong political support in Europe. On the market design side, OTC markets, whose lack of transparency is believed to have deepened the financial crisis, are under scrutiny with the aim to centralise trade. We study microstructure models where investors and security traders submit orders or write contracts to adjust their asset holdings over time. Trader behaviour is represented by computer programmes which process information. We identify behavioural equilibria through genetic programming which exerts evolutionary pressure to successively improve the traders decision-making abilities until abnormal returns are eliminated. In these equilibria of behaviour and market dynamics, traders are optimally adapted to the institutional and regulatory setting. Results are obtained on the impact of regulatory measures on market stability (excess volatility and crashes), microstructure properties (market quality, price discovery) and the behaviour of investors and traders (asset allocation, skills) which are highly relevant to the understanding and prevention of market breakdowns and financial crises. The models and results will be published as a book to promote this newly established field. We will make the software available as open source code to ensure verifiability of the results.


Fisher-Vanden K.,Pennsylvania State University | Thorburn K.S.,Norwegian School of Economics and Business Administration
Journal of Environmental Economics and Management | Year: 2011

Researchers debate whether environmental investments reduce firm value or actually improve financial performance. We provide some compelling evidence on shareholder wealth effects of membership in voluntary environmental programs (VEPs). Companies announcing membership in EPA's Climate Leaders, a program targeting reductions in greenhouse gas emissions, experience significantly negative abnormal stock returns. The price decline is larger in firms with poor corporate governance structures, and for high market-to-book (i.e., high growth) firms. However, firms joining Ceres, a program involving more general environmental commitments, have insignificant announcement returns, as do portfolios of industry rivals. Overall, corporate commitments to reduce greenhouse gas emissions appear to conflict with firm value maximization. This has important implications for policies that rely on voluntary initiatives to address climate change. Further, we find that firms facing climate-related shareholder resolutions or firms with weak corporate governance standards - giving managers the discretion to make such voluntary environmentally responsible investment decisions - are more likely to join Climate Leaders; decisions that may result in lower firm value. © 2011 Elsevier Inc.

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