von MALTZAHN Andreas, PAGES Mar, PAMIAS Alberto, SADOULET Loïc
D-20: Rising Stars in the Telecom Space
INSEAD Working Paper 2012/52/EPS

The key objectives of this white paper, a joint effort between INSEAD and Delta Partners, are to:Define the core 20 markets that present the next wave of growth for the mobile telecommunications industry ; to Describe the key industry shifts taking place within these markets and define different paths towards maturity Cluster these markets to identify similarities, opportunities and challenges for operators as well as for investors. Despite the fundamentally similar business models, telecom operators in emerging markets are not likely to follow the same growth and development path their developed market counterparts took. Differences in competition, regulation, access to technology and services will shape their "way to maturity" in different ways, facing new challenges as well as creating interesting opportunities.

DERMINE Jean
Bank Corporate Governance, Beyond the Global Banking Crisis Journal of Financial Markets, Institutions and Instruments Forthcoming

Following the publication of the Walker Report (2009) in the United Kingdom, international organizations such as the Basel Committee (2010), the OECD (2010), and the European Union (2010) have proposed guidelines to improve bank corporate governance and, more specifically, risk governance. These international reports vary widely on what the prime objective of bank corporate governance should be, with one group recommending a shareholder-based approach, and the other a stakeholder-based one. Moreover, the focus of these reports is exclusively on risk avoidance, with little guidance as to how an acceptable level of risk should be defined. Drawing on insights from economics and finance, this paper is designed to contribute to the debate on bank corporate governance. Our four main conclusions are as follows. Firstly, the debate on bank governance should concern not only the boards but also the governance of banking supervision with clearly identified accountability principles. Secondly, since biases for short-term profit maximization are numerous in banking, boards of banks should focus on long-term value creation. Thirdly, board members and banking supervisors should pay special attention to cognitive biases in risk identification and measurement. Fourthly, a value-based approach to risk taking must take into account the probability of stress scenarios and the associated costs of financial distress. Mitigation of these costs should be addressed explicitly in the design of bank strategy.

HUY Quy
Emotions in Strategic Organization: Opportunities for Impactful Research Organization Science Forthcoming

Following the emergence of the behavioral movement in economics and finance, there have been mounting calls for strategy scholars to expand and deepen what is called as the field of behavioral strategy, in which cognitive and social psychology will be merged with strategic management theory and practice (Powell, Lovallo, & Fox, 2011). The goal is to bring realistic assumptions about human cognition, emotion, and social behavior to the strategic management of organizations and thus to enrich strategy theory, empirical research, and real world practice. Thanks to advancing research in social psychology and neuroscience, there has been a resurgence of scholarly interest in connecting micro psychological phenomena to strategic outcomes (e.g., Hodgkinson & Healey, 2011; Huy, 2011; Powell et al., 2011). Levinthal (2011) noted that many strategic management challenges involve ill-specified alternatives and coarse-grained representations of strategic issues with a high level of uncertainty and ambiguity. Dealing adequately with these issues escapes neat optimizing algorithms, which has been the focus of the literature on judgment and decision making. One type of psychological phenomenon, human emotion, has barely been integrated to strategy research, although mushrooming research on emotion has shown that emotion can have a potent influence on cognition and behavior, especially under conditions of uncertainty and ambiguity (see Elfenbein, 2007).

HUY Quy
Emotions in Strategic Organization: Opportunities for Impactful Research
INSEAD Working Paper 2012/51/ST

Following the emergence of the behavioral movement in economics and finance, there have been mounting calls for strategy scholars to expand and deepen what is called as the field of behavioral strategy, in which cognitive and social psychology will be merged with strategic management theory and practice (Powell, Lovallo, & Fox, 2011). The goal is to bring realistic assumptions about human cognition, emotion, and social behavior to the strategic management of organizations and thus to enrich strategy theory, empirical research, and real world practice. Thanks to advancing research in social psychology and neuroscience, there has been a resurgence of scholarly interest in connecting micro psychological phenomena to strategic outcomes (e.g., Hodgkinson & Healey, 2011; Huy, 2011; Powell et al., 2011). Levinthal (2011) noted that many strategic management challenges involve ill-specified alternatives and coarse-grained representations of strategic issues with a high level of uncertainty and ambiguity. Dealing adequately with these issues escapes neat optimizing algorithms, which has been the focus of the literature on judgment and decision making. One type of psychological phenomenon, human emotion, has barely been integrated to strategy research, although mushrooming research on emotion has shown that emotion can have a potent influence on cognition and behavior, especially under conditions of uncertainty and ambiguity (see Elfenbein, 2007).

DYER Jeff, GREGERSEN Hal, CHRISTENSEN Clayton
세종서적 신간 《이노베이터 DNA》가 나왔습니다~!
Sejong Books (2012) [Korean translation of The Innovator's DNA: Mastering the Five Skills of Disruptive Innovators, Harvard Business Review Press, 2011]