A model for R&D performance measurement

R&D activities are increasingly costly and risky and, as a consequence, measuring their performance and contribution to value becomes critical. This paper illustrates a formal model for measuring R&D performance, based upon a balanced and synthetic evaluation of quantitative indicators from five different perspectives of performance: financial, customer, innovation and learning, internal business, alliances, and networks. The model is built in coherence with the suggestions coming from the theory of measurement in soft systems, which gives relevant guidelines for ensuring validity, objectivity and inter-subjectivity of the model. Then, an application in a real R&D setting is described, which helps to understand the model and to enlighten its main advantages and limits.     

Single factor models with Markovian spot interest rate: an analytical treatment

In the spirit of the Heath–Jarrow–Morton methodology, we provide an analytical characterization of bond prices within the context of single factor term structure models in which the spot rate follows a Markov process and the volatility structure of zero coupon bond returns is stochastic. Also, a perturbative analysis of the extended Cox–Ingersoll–Ross model is proposed. Received: 7 February 2001 / Accepted: 8 June 2002     

Patterns of dominant flows in the world trade web

The large-scale organization of the world economies is exhibiting increasing levels of local heterogeneity and global interdependency. Understanding the relation between local and global features calls for analytical tools able to uncover the global emerging organization of the international trade network. Here we analyze the world network of bilateral trade imbalances and characterize its overall flux organization, unraveling local and global high-flux pathways that define the backbone of the trade system. We develop a general procedure capable to progressively filter out in a consistent and quantitative way the dominant trade channels. This procedure is completely general and can be applied to any weighted network to detect the underlying structure of transport flows. The trade fluxes properties of the world trade web determine a ranking of trade partnerships that highlights global interdependencies, providing information not accessible by simple local analysis. The present work provides new quantitative tools for a dynamical approach to the propagation of economic crises.     

Corporations as Political Actors – A Report on the First Swiss Master Class in Corporate Social Responsibility

This paper presents a report on the first Swiss Master Class in Corporate Social Responsibility, which was held between the 8th and 9th December 2006 at HEC Lausanne in Switzerland. The first section of the report introduces the topic of the master class – ?Corporations as Political Actors – Facing the Postnational Challenge’ – as well as the concept of the master class. The second section gives an overview of papers written by nine young scholars that were selected to present their research. The brief summary of each paper also includes a summary of comments from the masters, practitioners, and NGO representatives at the event. The third section brings in the perspectives of one master and one NGO representative on the discussed issues. The final section offers a brief wrap-up of the discussed topics and outlines ways to structure future conceptual and empirical research.     

Window on Eastern Europe: Business and National Culture in Estonia

As the emerging democracies of Eastern Europe try to make capitalism work in an ethical manner, their historical background and the national culture acquired over centuries cannot be ignored, as this study from Estonia eloquently shows. Dr Professor Maksim Saat is Professor of Business Administration, and Dr Mari Meel is Assistant Professor of Business Ethics, at the Tallinn Technical University, Ehitajate tee 5, EE-0026 Tallinn, Estonia. In an Appendix Dr Meel describes how she teaches business ethics to university students.     

Towards adequate and equitable energy provision for farmworker families

Consumption patterns of farmworker households are constrained by limited access and choice. Few households use electricity to any significant extent, most rely on fuelwood for power‐intensive energy applications, and the use of commercial hydrocarbon fuels is generally lower than in other rural communities. An evaluation of energy supply reveals opportunities for improvement, particularly for households on farms with a grid electricity supply and with the potential for fuelwood production. First, problems must be overcome, most of which result from the socio‐economic status of farmworkers and their dependence on their employers.     

Conflict as a Tool for Measuring Ethics at Workplace

The article concentrates on problems, which emerge in the ongoing process of transforming a socialistic society to a western welfare society. This process does not only include economic aspects, as it might seem from several articles and books written about the subject. Often these societies, having established a stable financial and legal systems face much harder problems related to the prevailing values. They are not struggling anymore because of bad loans or lack of investment but because of outdated values and inability to adapt themselves to a changing world. To understand these difficulties better, 2000 conflicts, occurred during last four years in local companies, have been investigated.Conflict as the research tool has been chosen because it is a very informative phenomenon for revealing an organisation's general status. It sheds light on different aspects of problems, which occur during rapid development. We could name several conflict reasons but generally all of them stem from three sources:(1)Popularity of the early-capitalistic values(2)Inability to organise information according to needs(3)Outdated valuesThe article gives an overview about the reasons of conflicts in Estonian companies and ethical problems, which occur when managers start to solve these conflicts with power.