基于价值创造的公司经营价值评估方法

公司经营价值评估方法主要有经济增加值法和自由现金流量折现法。经济增加值法能够从逻辑上说明公司经营价值的源泉,自由现金流量折现法能够较好地说明公司经营价值的本质。而基于价值创造基础的公司经营价值的评估方法综合上述两种方法的优点,不仅有利于理解价值的本质,更有利于理解价值的源泉,因此能够更好地帮助投资者实现价值管理和价值投资的目标。     

In search of alliance-level relational capabilities: Balancing innovation value creation and appropriability in R&D alliances

In order to advance our knowledge of alliance-level relational capabilities, this paper investigates how searching across different knowledge domains affects both innovation value creation and appropriability in R&D alliances. Focusing on the alliance level of analysis, we advance that, in R&D strategic alliances, search span has a curvilinear (inverted U-shape) relationship with value creation and a positive relationship with value appropriability. Our analysis on a sample of 1515 interfirm dyadic R&D alliances confirms these hypotheses. We find that, after a threshold level of search span, joint value creation decreases. Conversely, the allied firms’ ability to appropriate the value of their jointly developed inventions grows exponentially as the alliance search span increases. Thus, value creation and appropriability may have conflicting exigencies. We argue that firms involved in R&D strategic alliances should develop the interorganizational relational capability to jointly manage the process of search that occurs at the interorganizational level, and specifically the span of their search, in ways that balance the needs of value creation and appropriability.     

Time to decision: the drivers of innovation adoption decisions

Organisations desire timeliness. Timeliness facilitates a better responsiveness to changes in an organisation's external environment to either attain or maintain competitiveness. Despite its importance, decision timeliness has not been explicitly examined. Decision timeliness is measured in this study as the time taken to commit to a decision. The research objective is to identify the drivers of decision timeliness in the context of adopting service-oriented architecture (SOA), an innovation for enterprise computing. A research model rooted in the technology–organisation–environment (TOE) framework is proposed and tested with data collected in a large-scale study. The research variables have been examined before in the context of adoption, but their applicability to the timeliness of innovation decision-making has not received much attention and their salience is unclear. The results support multiple hypothesised relationships, including the finding that a risk-oriented organisational culture as well as normative and coercive pressures accelerates decision timeliness. Top management support as well as the traditional innovation attributes (compatibility, relative advantage and complexity/ease-of-use) were not found to be significant when examining their influence on decision timeliness, which appears inconsistent with generally accepted knowledge and deserves further examination.     

New challenges in sport entrepreneurship for value creation

International Entrepreneurship and Management Journal - Sport entrepreneurship has rapidly gained popularity in the entrepreneurship, management and sports fields due to the way it balances...     

The underlying potential of supply management in value creation

This study discusses the value-creation potential of supply management in firms, highlighting the significance of buyer–supplier collaboration, as well as resources and capabilities in the process. It is a conceptual study that builds on the theoretical basis of the resource-based view and the value net approach. Given the critical role of supply management in generating value the strategic emphasis in future should be on triple value creation. It is concluded that this cannot be achieved by focusing only on dyadic relationships or relationships in chains, and that supply relations should be viewed in a wider network context.     

Recombination in the open-ended value landscape of digital innovation

Digital innovation introduces a new open-ended value landscape to anyone seeking to generate or capture new value. To understand this landscape, we distinguish between design recombination and use recombination, explore how they play out together, and redirect the attention from products and services toward digital resources. Digital resources serve as building-blocks in digital innovation, and they hold the potential to simultaneously be part of multiple value paths, offered through design recombination and assembled through use recombination. Building on this perspective, we offer the value spaces framework as a tool for better understanding value creation and capture in digital innovation. We illustrate the framework and offer the early contours of a research agenda for information systems researchers.     

Challenges to open innovation in traditional SMEs: an analysis of pre-competitive projects in university-industry-government collaboration

International Entrepreneurship and Management Journal - Governments are increasingly focusing their efforts on stimulating innovation within small and medium-sized enterprises (SMEs). As a result,...     

Technology and the creation of value in services: a conceptual model

In this paper, a model to visualize service delivery processes is proposed — mostly by pulling together concepts and relationships explored in varions functional areas. It is based on the notion of value chain and emphasizes the connectedness — both internal and external — of activity nodes. Productivity, service quality, job enlargement and enrichment and quality of worklife all hinge on how activities are grouped and on the nature and extent of interaction between nodes. Through its dual emphasis on internal and external client interfaces and on focused activity nodes, the model may be a useful tool for service and service delivery process (SDP) designers trying to explore new and innovative ways to compete. It may be of particular assistance in the defensive or proactive assessment of the most complex impacts of information technology.     

为热水器行业引入价值创新

热水器行业现状 热水器行业发展史可以追溯到20世纪70年代末,当时诞生了我国第一台燃气热水器,并以其方便、快捷的特性,立即得到广大消费者的青睐,从而揭开了燃气热水器在中国发展的新纪元.经过20多年的发展,整个热水器行业已经从最初的小而少发展到现在的大而多,产品类型也随着技术的不断成熟由最初的燃气热水器独领风骚发展到今天的燃气式、电热式、太阳能等多种类型.近年来,热水器行业被认为是利润丰厚的最有前途的行业之一,这也是投资者均看好该行业的原因.     

Conceptualising the capabilities and value creation of HRM shared service models

Organisations are increasingly establishing HRM Shared Service Models (SSMs) for the delivery of HRM. These SSMs are claimed to maximise usage of the advantages of centralised and decentralised delivery approaches while minimising the drawbacks of both. This article draws on concepts from the Resource-Based View, the Dynamic Capabilities Approach and from contingency models in order to advance the argument on HRM SSMs and their value for organisations. We propose a model that enables one to conceptualise the value created by an HRM SSM and that is contingent on the types of capabilities employed within it, the types of HRM services offered and the organisational model chosen.     

Intangible assets as drivers of innovation: Empirical evidence on multinational enterprises in German and UK regional systems of innovation

The sources of value creation are increasingly relying on intangible assets (IAs). IAs are the lifeblood of knowledge-intensive industries where the new value added is disproportionally based on specialized, non-repetitious activities. However, while the role of IAs is recognised as central to sustain the competitiveness of firms and innovation systems, the understanding of the mechanisms through which IAs display their effects has not yet been fully grasped.By focussing on the processes through which investments in IAs occur, this paper aims to explore the key dimensions through which two specific IAs - organisational and network capital - are enhanced and contribute to the innovativeness and embeddedness of Multinational Enterprises (MNEs) in regional innovation systems. On the basis of over forty in-depth interviews to leading staff of German and UK flagship MNEs operating in the automotive, life science and ICT sectors, the paper shows that MNEs adopt rather distinctive strategies to develop IAs; that MNE degree of local embeddedness is strictly related to both the kind of IA strategy and the local environment; and that causation mechanisms are at work between MNE embeddedness and regional creation of IAs.     

Strategy and process of value creation and appropriation in service clusters

Service-oriented networks and clusters of firms have increasingly become prevalent in recent decades. This new form of service clusters is different from the traditional industrial clusters in which the focus is primarily on costs, production, and channel distributions. We extend the research on service innovation, alliance networks, and industrial clusters to analyze the strategy and the process of value creation and appropriation in service clusters. Higher perceived customer value is created and delivered by a network of agglomerate firms dynamically engaged in value networking and service innovation. The proposed theoretical framework and innovation mechanism provide new insights for firms located in the service clusters to gain and sustain competitive advantages. It also offers a new perspective for policymakers to advance regional and global competitiveness.     

战略新思维:价值创新

经济全球化的推进和技术的飞跃发展,导致一个明显的结果是竞争的动态性不断增强。在过去的十多年中,企业的外部经营环境发生了剧烈变化。其表现为竞争范围扩大.创新成果扩散加快,顾客需求持续变化等特点。竞争要素从成本、质量、速度上升到提供优异的顾客价值上来。许多实现了高速发展的企业如美国西南航空公司、戴尔电脑公司、沃尔玛公司等在竞争战略上采用了“价值创新”的思     

Exploring preconditions for open innovation: Value networks in industrial firms

The open innovation model embraces the purposive flow of internal and external ideas as a foundation for innovation and network formation. While the open innovation paradigm has been successfully applied in high-tech settings, there is a lack of research on adopters of open innovation in other settings. We describe a case study conducted in a process industry setting, focusing on the LKAB mineral group as it makes a transition from a closed to a more open innovation context by adopting remote diagnostics technology. This process has resulted in the creation of new value networks. By tracing the reasoning behind the organizational transformation and studying the technology used to carry it through, we seek to explore the preconditions for open innovation and provide insight into the role of IT in the process. Our findings show that adoption of the open innovation model is grounded in developing organizational environments that are conducive to innovation, including expertise in creating a culture for knowledge sharing, building a trustful environment, and a resourceful use of IT.     

A critical review of empirical research on open innovation adoption

The open innovation approach has been one of the most discussed topics in innovation management literature in the 2000s. Over the past few years, academic publications on open innovation have increased substantially. This paper attempts to summarize and review the state-of-the-art of empirical open innovation research and develop new opportunities for open innovation research in the future. In order to make the papers more comparable, a clear focus on large-scale quantitative-oriented studies was set. From a total of 282 documents, 30 studies were analyzed in detail along four key dimensions: Firstly, different methods of measuring open innovation adoption are compared. Then, the level of open innovation adoption is analyzed on a general basis. Thirdly, the level of adoption is compared at the level of the open innovation mode (inbound and outbound). Finally, the study results regarding the variables that influence open innovation adoption are compared and conclusions for future research directions are drawn.     

Understanding novelty creation in exploration networks—Structural and relational embeddedness jointly considered

In exploration networks the key-organisational question is not how to organise a division of labour but instead how to create novelty. The aim of this paper is to develop an understanding of how such novelty in exploration networks is created. Based on an empirical analysis of the multimedia and biotechnology industries in the Netherlands, this paper shows that exploration networks face a trade-off between diversity and selection. Moreover, the findings indicate that depending on the type of exploration task, exploration networks need to make a combination of density and tie strength in such a way that diversity and selection are aligned. The paper concludes, among others, that the views of Burt, Coleman and Granovetter should not be seen as contradictory, but rather as proponents of complementary views.     

The role of human capital in identifying the drivers of product and process innovation: empirical investigation from Italy

Quality & Quantity - Economists recognize that the local availability of higher human capital represents significant knowledge spillovers, especially for innovation process. This research...     

“技能型创新人才”的主要特征对高职教育教学改革的启示

培养"技能型创新人才"是高职教育教学改革的目标指向。"技能型创新人才"首先是在技能型人才基础上成长起来的,所以与其他类型人才相比,突出强调的是技能,这是"技能型创新人才"的本质属性;而与传统技能型人才相比,"技能型创新人才"在知识经济背景下应运而生,突出强调的是理论技术和智力技能,丰富和完善了传统技能型人才的内涵,主要表现出现代技术型人才特征。这使高职教育教学改革得到启示。     

Residential development in an open city

This paper investigates the residential development process using a dynamic model of an open city. The model is used to analyze how the density and timing of development at various sites respond to changes in exogenous trajectories and functions. In particular, the impact of income and equilibrium utility trajectory variations as well as transportation and construction cost changes are evaluated for the general model with no specific functional forms assumed. Sufficient conditions for predicted responses are derived and interpreted.