A gene to drug venture: Poisson options analysis

We provide a Poisson real option model of a gene‐to‐drug venture. First we describe a general new drug discovery programme as well as a specific secretory protein research programme. Then we model both the candidate secretory gene and the 'hot' gene discoveries as Poisson processes. Gene deal value sizes are modeled as lognormal distributions. Then we calculate the expected R&D value (EV) of the Poisson discoveries times the value distributions, for both stages. Finally, for generic collaborating‐funding arrangements, we show the Merton (1976) standard mixed diffusion‐jump option value, compared to a risk neutral 'intrinsic' value. Under simple assumptions, the real option value is substantial, even if there is no intrinsic value.     

University research and development of a microsatellite

Developing a microsatellite at a university is an effective means of training engineering students for an R&D career. Such a programme requires the adoption of many research and development processes from industry. This paper describes how tailored forms of systems engineering, project management and technology management were applied to develop a high technology product at a tertiary educational institution. This microsatellite development programme has produced students who are well prepared for the realities of engineering practice, and a research and development facility that earns research funding for the university.     

Nutrition research policy : US progress in the past decade

Human nutrition research is receiving a great deal of attention from the media, consumers and the US government. This article focuses on policy problems facing the government in the development and implementation of the federal human nutrition research programme: establishment of priorities, organization and funding. The background leading up to the present situation is developed, and the political bodies and federal agencies participating in the debate are described. The authors identify the policy issues, and discuss progress towards their resolution.     

Management of European fast reactor R&D

Since 1984 government-funded fast reactor R&D in France, Germany and the UK has been run as a collaborative activity, and since 1988 as a unified programme in support of the design and construction of the advanced European Fast Reactor. This paper describes the international management structure which has been set up, and the means used to control the work. It is written from the point of view of those engaged in the project, and makes no attempt at a formal analysis of the structure.
The main difficulty is that control of funding remains with the three governments. The R&D programme has to be managed so that it meets the needs of each government separately as well as the designers' requirements.
To start with the management structure was excessively bureaucratic, but it has become more flexible and efficient. This has happened as the initial nationalistic suspicions have broken down, and the staff engaged in the work have learnt more about each others' ways of working so that an atmosphere of trust and inter-dependence has grown up.
(This paper was written before the changes in UK policy on fast reactor development were announced in November 1992.)     

Reshaping European metrology research – the role of national research managers

This paper deals with the role of research and development (R&D) managers in shaping the landscape of public research in Europe. These R&D managers work in the sphere of public research within national government laboratory services. The case we present is of the reconfiguration of metrology research. Metrology is the science of measurement. We examine why scientists and research managers in nationally embedded institutes, which are performing R&D in support of national policy and local industry needs, have chosen to co‐operate in a shared research programme. This means giving up, in part, their national sovereignty over funds and decision making. Furthermore, we examine how they have achieved the shared programme, which was launched as a European Commission (EC) programme through the Article 185 ¹ initiative, which allows the European Union to participate in research programmes undertaken jointly by several Member States.     

The relationship between the planning and technical functions: Part II-The longer term growth of a company

This paper concentrates on m e of the fundamental questions on which a Company needs to focus in generating a longer term corporate strategy, in particular—What is the environment within which the Company will have to develop? A longer term appreciation of this question is not only important for corporate strategy in general but is a key factor in establishing a viable, economic and relevant programme or plan for the Technical function. The actual approach used to study this longer term in a limited number of cases is described and the results in one case are summarized in principle in order to indicate the different fundamental questions with which a Company might be faced by taking a longer view in addition to the more normal short term one. The results also give an example of how the plan for the technical function may need revising. For this revision, however, specific business objectives could be given and many key aspects of the future business environment would have been very carefully considered and evaluated. This greatly improves the basis from which the technical function can develop its ideas and programmes.     

Quo vadis, FAO?

The present recession in aid funding and the ongoing transformation of the United Nations development programme and project management approach calls for fresh ideas, particularly from within the UN specialized agencies. In the largest of these, PAO, a process of self-reflection and intellectual fermentation seems to be taking place to some extent in response to the important November 1993 biennial FAO Conference. The Conference marks the end of the third consecutive six-year electoral term of the organization's Director-General. This article presents for debate some critical issues and opportunities which appear timely for consideration by those working within and outside FAO on the design of realistic development policies.     

US and EEC agricultural trade policies: A long-run view of the present conflict

This paper traces post-war agricultural policy in the USA and compares it with the developing policies of the EEC. It examines the reasons for, and the results of, the protectionist policies which have been adopted in each case, and how the present conflict between the two trading blocs were inevitable, due to the foundations laid in the 1950s. The grain sector is used to illustrate the dominant tendencies in US agricultural policies, which include a programme of food aid used as an outlet for US agricultural capacity. The conclusion outlines how the EEC, with its potential for further growth in grain exports, can learn from the US experience in this, and other, aspects of agricultural trade.     

Undergraduate design learning in multiple partnerships: joinedupdesign for academies

This article reports research into undergraduate design learning through an off-campus partnership. The Sorrell Foundation’s Joinedupdesign for Academies programme involved partnerships between university design departments, ‘failing’ 11–18 schools and professional designers, in the context of a funding commitment to rebuild/renew school buildings in the UK, and an ideological commitment to remodel schools as ‘Academies’. We investigated the impact on 12 undergraduate Design students’ learning as they partnered pupils at two secondary schools in a live regeneration project, following both schools’ redesign/relaunch as ‘Academies’. Using a mixed methods case study approach, we report the acquisition of a wide range of employability skills, vital for professional designers, through an innovative learning model in which pupils act as clients. In terms of design education, these partnerships provided a rare and authentic exposure to the complex demands of publicly-funded work for undergraduate design students, and as such offer a new and potentially interesting model for experiential design education, which bridges campus and off-campus learning.     

商业银行流动性与违约风险研究——基于 PVAR 模型的实证检验

本文使用11家上市银行的季度数据建立面板向量自回归（PVAR）模型,运用脉冲响应函数分析银行流动性对银行风险的动态影响。结果显示,内外部融资流动性对商业银行风险有显著影响,但二者作用于银行风险的时间路径和作用存在差异。银行风险之于外部流动性的响应较为迅速,对于内部流动性而言有一定滞后;外部流动性对银行风险的影响在时间序列上呈现衰弱周期,而内部流动性的影响则随着时间推移逐步加强。由此,在短期的流动性危机中,应更注重外部流动性的补充,但从长期来看,内部融资流动性才是商业银行风险的基础因素。     

Impact of funding sources on innovation: evidence from Brazilian software companies

This paper aims to investigate the impacts of different sources of innovation funding on company performances in the context of an emerging economy. Brazilian software companies are selected as a case for this investigation. Data – related to the types of funding support received and eight types of company performances measured in binary scales – was collected through an online survey from 188 companies located across Brazil. A multivariate probit model was estimated to assess the impacts of different funding schemes on company performances – controlling for other confounding effects. The findings confirmed the critical importance of public innovation funding, and revealed that companies that: (1) Used public funds were more likely to become nationally competitive; (2) Used loans from commercial banks were less likely to become nationally and internationally competitive; (3) Reinvested revenues were more likely to gain market share, and help in increasing the number of employees; (4) Not aware of public funding schemes were less likely to invest on research, development, and innovation. The overall findings suggest the positive impacts of innovation funds on company performance. They can serve as a policy guide to develop targeted performance strategy to determine which funding scheme would be effective to foster what outcomes.     

系统科学视角下的乔布斯

创新型人才是建设创新型国家的关键。系统科学视角下的美国最富代表性的创新人物史蒂夫·乔布斯的成长过程具有耗散性、混沌性和协同性等系统特征。鼓励创新、宽容失败、尊重个人价值的系统环境以及创新教育、快速发展的风险投资业和不断交汇的人文与科技等系统要素是史蒂夫.乔布斯成长的关键。因此,我们应该采取加强创新创业教育、推广通识教育、鼓励风险投资业发展等措施,改善创新环境,这对于我们成功实现＂十二五＂规划和《国家中长期人才发展规划纲要》以及十七届六中全会的要求,具有重要的现实意义。     

The assessment of Government support for industrial research: lessons from a study of Norway

Abstract: This paper summarises the results of a recent study carried out by the Science Policy Research Unit for the Norwegian Royal Commission on Industrial Research (the 'Industriforskningsutvalget'). We assess in broad terms the effectiveness of existing Norwegian mechanisms for supporting Industrial research in institutes and firms, focussing in particular on the mechanical engineering and electronics sectors. A range of evaluation techniques are utilised in examining (a) research institute performance, (b) the research institute/industry interface, and (c) the general mode of operation of the funding system. It is suggested that the methodology adopted in the study may be of more general value in evaluating national systems for funding R & D.     

Open social innovation dynamics and impact: exploratory study of a fab lab network

The aim of this research is to explore the dynamics and impact of open social innovation, within the context of fab labs and makerspaces. Using an exploratory methodology based on 12 semi‐structured interviews of fab lab founders belonging to The Centres for Maker Innovation and Technology (CMIT) programme – a network of 170 fab labs located in Eastern Europe – this research explores the impact of an adopting an open approach in relation to the different stages of social innovation (prompts, proposals, prototypes, sustaining, scaling and diffusion, systemic change) as well as social impact. The main results of this study are that while the CMIT programme provided each fab lab with similar initial conditions (identical funding, objectives and rules), the open social innovation approached adopted enabled to give birth to a wide diversity of fab labs, each being very well adapted to the local environment, social needs and constraints and able to deliver social impact in just a matter of years; a result that would be hard to achieve with a centralised top‐down approach. The study identified three types of CMITs – Education, Industry and Residential – which could be similar or different depending on the stage of social open innovation. Furthermore, this paper discusses the main difficulties social entrepreneurs encounter as a part of the open social innovation process, as well as means to overcome them. In this respect, this study adds to the literature on fab labs by providing more comprehensive view of the challenges faced by fab labs (and makerspaces) founders, as well as suggestions of strategies enabling to ensure their long‐term sustainability.     

Financial planning issues concerning funding, pricing and organization of corporate R&D activity: A case study

This paper is a case study of financial planning issues concerning funding, pricing, and the organization of corporate research and development (R&D) activity faced by American Telephone and Telegraph Company (AT&T) after the break up of the Bell System. The paper concludes that from the standpoint of financial planning, and in the context of firms similar to AT&T, a variant of the predivestiture model, rather than a profit centre model or a market model, appears to be the most efficient way of funding, pricing and organizing corporate R&D activity.     

Student teachers of technology and design into industry: a Northern Ireland case study

This paper, based in Northern Ireland, is a case study of an innovative programme which places year 3 B.Ed. post-primary student teachers of Technology and Design into industry for a five-day period. The industrial placement programme is set in an international context of evolving pre-service field placements and in a local context defined by the Northern Ireland Curriculum (CCEA 2007); a rationale for the inclusion of Technology and Design within that curriculum; and the promotion of a STEM (Science, Technology, Engineering and Mathematics) agenda. Undertaken in collaboration with a range of industrial partners, the placements aim to give the student teachers an opportunity to spend time in industry. All the students concerned started their teacher education degree straight from school and therefore are without industrial experience. As a result of the placements the students gained valuable industrial experience and thereby further enhanced their working knowledge and understanding in their main subject area of Technology and Design, in particular, and other curricular areas, in general. The students report many benefits, both personally and professionally, to be gained from the placements typically the opportunity to see a range of industrial processes, many of which they are required to teach, and to gain a better understanding of the link between content of Technology and Design education and the activities of industry. This case study is based on feedback from the 2010 to 2011 cohort of students whose comments confirm the inherent value of exposing student teachers to industrial environments.     

Lead time reduction through ICT application in the footwear industry: A case study

This paper analyses some relevant supply chain management issues for Italian firms operating in the footwear industry. The analysis is carried out on representative firms, located in a specialized regional district with a high density of shoe manufacturing companies. Companies were experiencing substantial problems in the management of supplier relationships, as well as in the commercial/distributive channel. Specifically, synchronization issues in the logistics pipeline were weakening firms’ lead time performances.The case study presented strives to highlight the critical points in the set up of the supply chain management programme, as well as the main results obtained. The case study also shows that the adoption of tailored Information and Communication Technology (ICT) tools has the potential to save significant lead time in supplier/buyer relationships. From the case study, generalities can be drawn and transferred to the footwear industry.     

Regulating the BBC

The BBC is active in an increasing number of markets. In some cases the BBC enters the market using licence fee income; in others its commercial operations have linkages with licence-fee activities—for example, by provision of resources for programme making, joint funding of programmes, trailing of commercial products, and so on. These situations raise serious competition issues. The authors conclude that theory and evidence suggest exceptional risks that anticompetitive practices by the BBC will discourage private sector initiative and investment in broadcasting and related markets and recommend strengthened ex ante regulation of the BBC by OFCOM.     

A class of chance constrained multiobjective linear programming with birandom coefficients and its application to vendors selection

In this paper, a class of chance constrained multiobjective linear programming model with birandom coefficients is considered for vendor selection problem. Firstly we present a crisp equivalent model for a special case and give a traditional method for crisp model. Then, the technique of birandom simulation is applied to deal with general birandom objective functions and birandom constraints which are usually difficult to be converted into their crisp equivalents. Furthermore, a genetic algorithm based on birandom simulation is designed for solving a birandom multiobjective vendor selection problem. Finally, a real numbers example is given. The paper makes certain contribution in both theoretical and application research related to multiobjective chance constrained programming, as well as in the study of vendor selection problem under uncertain environment.     

Generating agricultural technology: Triticale for the Himalayan Hills

This article is concerned with the process of generating agricultural technologies in public sector research and development (R & D) institutions. The case study examines a research programme to develop triticale as a food crop for the people of the Himalayan hills. It explains how significant changes occurred in the priorities and organization of a triticale improvement programme in India as a result of the timely analysis of information from on-farm trials and surveys, a review of past triticale data and a field workshop in the Himalayas.