53 episodes

Find out more about ESMT's experts research in the field of economics, politics and business environment.

Economics, politics and business environment ESMT European School of Management and Technology

    • Business

Find out more about ESMT's experts research in the field of economics, politics and business environment.

    Speeding up the internet: regulation and investment in European fiber optic infrastructure

    Speeding up the internet: regulation and investment in European fiber optic infrastructure

    In this paper we study how the coexistence of access regulations for legacy (copper) and fiber networks shapes the incentives to invest in network infrastructure. To this end, we develop a theoretical model explaining investment incentives by incumbent telecom operators and heterogeneous entrants and test its main predictions using panel data from 27 EU member states over the last decade. Our theoretical model extends the existing literature by, among other things, allowing for heterogeneous entrants in internet access markets, as we consider both other telecom and cable TV operators as entrants. In the empirical part, we use a novel data set including information on physical fiber network investments, legacy network access regulation and recently imposed fiber access regulations. Our main finding is that more stringent access regulations for both the legacy and the fiber networks harm investments by incumbent telecom operators, but, in line with our theoretical model, do not affect cable TV operators.

    • video
    ESMT Open Lecture with Nicolas Véron "Challenges for the European Union in 2017"

    ESMT Open Lecture with Nicolas Véron "Challenges for the European Union in 2017"

    The European Union has reached its tenth year of a cycle of financial and economic turmoil that started in mid-2007. In this Open Lecture, based on the observation of recent developments including those related to the Italian banking sector and Brexit in 2016, Nicolas Véron will argue that a new policy cycle is likely to start this year. This new cycle will allow for less emphasis on emergency crisis management and more on the build-up of a sustainable framework to bring the European economy back to normal functioning. While stopping short of currently unrealistic visions of fiscal and political union and EU treaty change, this framing implies significant further changes in the areas of banking, capital markets, fiscal accountability, and structural economic policies.

    About Nicolas Véron
    Nicolas Véron cofounded Bruegel in 2002-05, joined the Peterson Institute for International Economics in 2009, and is currently employed on equal terms by both organizations. His research is primarily about financial systems and financial services policy, on which he has published widely since 2002. He has been a witness at numerous parliamentary hearings in the US Senate, European Parliament, and in several European member states; a financial policy expert for the European Commission and Court of Auditors; and a consultant to the International Monetary Fund and World Bank. He is also an independent board member of the global derivatives trade repository arm of DTCC, a financial infrastructure company that operates on a non-profit basis. A graduate of France’s Ecole Polytechnique and Ecole des Mines, his earlier experience includes senior positions in the French government and private sector in the 1990s and early 2000s. In September 2012, Bloomberg Markets included Véron in its yearly global “50 Most Influential” list, with reference to his early advocacy of European banking union.

    • 1 hr 16 min
    • video
    ESMT Open Lecture with George Yip "Strategies for Innovation in China"

    ESMT Open Lecture with George Yip "Strategies for Innovation in China"

    In this ESMT Open Lecture on November 29, George S. Yip will analyze the key advantages China has for innovation, while identifying challenges for foreign companies conducting innovation in this Asian country. The Professor of Marketing and Strategy at Imperial College Business School will highlight leadership and strategy lessons for foreign companies to be learned, basing his talk upon a four-year program of research conducted by the CEIBS Centre on China Innovation. The findings are the subject of the book China’s Next Strategic Advantage: From Imitation to Innovation, published by The MIT Press in 2016.

    • 58 min
    Taking ‘some’ of the mimicry out of the adoption process: Quality management and strategic substitution

    Taking ‘some’ of the mimicry out of the adoption process: Quality management and strategic substitution

    Operations management scholarship has focused on reference-group adoption positively influencing focal-facility adoption; i.e., positive imitation parameters manifest due to the presence of mimicry and contagion. We instead argue that the incentive to adopt a quality-management system can be inversely related to reference-group diffusion. Our theoretical model formalizes the potential for strategic substitution and negative imitation parameters to be applicable in quality-management adoption. We compile a dataset of 2,895 facility-level observations that allows for three different industry-level reference groups; i.e., domestic industry, domestic exporters and foreign exporters. When undertaking probit estimations that do not account for appropriate fixed effects, we find positive imitation parameters which support the presence of mimicry and contagion. Yet when accounting for fixed effects, the imitation parameters turn negative in line with the presence of strategic substitution. Furthermore, the negative influence of reference-group adoption on focal-facility adoption is robust across the three reference groups.

    • video
    Uncertain times: perspectives for a stable Europe | ESMT Open Lecture with Jürgen Chrobog

    Uncertain times: perspectives for a stable Europe | ESMT Open Lecture with Jürgen Chrobog

    Is the success story “European Union” coming to an end? With the United Kingdom leaving the European Union and developments in the Middle East, the political and economic union is struggling for internal stability, while having to face major international crises. In this ESMT Open Lecture on November 1, diplomat, lawyer, and former German State Secretary Jürgen Chrobog will analyze this European challenge as well as its perspectives for a stable future.

    About Jürgen Chrobog
    Jürgen Chrobog was born in Berlin in 1940. He represented the German Federal Foreign Office abroad for more than 30 years, with stages in Singapore and Brussels among others. Chrobog held the position of spokesman of the Federal Foreign Office for seven years. During this period he accompanied the process of the German reunification. In 1991 he was appointed Head of Political Affairs and was responsible for most operations in the field of public affairs. Chrobog served as German ambassador in Washington D.C. for six years from 1995, before assuming office as German State Secretary in 2001 and officially retiring from the civil service in 2005. During his time as State Secretary he became well-known for his exceptional commitment to freeing hostages in the Middle East. Thereafter, Chrobog was appointed Chairman of the Board of Directors of the BMW Stiftung Herbert Quandt before moving to Berlin. In the German capital, he works as columnist and consultant, with a main focus on topics such as the Arabic world, especially as they relate to terrorism and the developments in the Middle and Far East. Jürgen Chrobog is married to the Egyptian native, Islamic scholar and consultant for intercultural communications Dr. Magda Gohar-Chrobog.

    www.esmt.org/open-lectures

    • 1 hr 5 min
    A price concentration study on European mobile telecom markets: Limitations and insights

    A price concentration study on European mobile telecom markets: Limitations and insights

    Price concentration studies investigate the relationship between market concentration and price levels. They are increasingly used in the mobile telecom industry. This paper provides a detailed account of the limitations of such studies. In addition, it proposes a specific approach in order to account for quality differences across countries, which are likely important when explaining price differences. When applying our approach to European mobile telecom markets from 2003 to 2012, we find that there is no positive relationship between concentration and prices and some indications that the relationship may be negative.

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