Envirox™ fuel-borne catalyst: Developing and launching a nano-fuel additive

The paper presents a product case study tracing the challenges of commercialization from research and product development to market launch. Envirox™ is a diesel fuel additive containing nanoparticles of cerium oxide, which enables fuel efficiency gains alongside reductions in harmful emissions such as black carbon (soot). The case traces developmental stages from lab experimentation and performance data sets, to raising finance, securing manufacturing capability and market testing in Hong Kong and the UK. The paper raises a number of generic and specific issues facing innovative small, university spin-out companies engaged in introducing nano-products to the market-place.     

Einzelbesprechungen

Ohne Zusammenfassung     

Einzelbesprechungen

Ohne ZusammenfassungÜbersetzt von Josef Steindl, WienAus dem Italienischen übersetzt von Erich Allina, Wien     

The shark is dead: how to build yourself a new market

British artist Damien Hirst is both controversial and successful. Jörg Reckhenrich, Jamie Anderson and Martin Kupp suggest that his innovative approach to life and work demonstrate strategies useful to organizations.     

Speculative bubbles in the S&P 500: Was the tech bubble confined to the tech sector?

This study tests for the presence of periodically, partially collapsing speculative bubbles in the sector indices of the S&P 500 using a regime-switching approach. We also employ an augmented model that includes trading volume as a technical indicator to improve the ability of the model to time bubble collapses and to better capture the temporal variations in returns. We find that well over half of the S&P 500 index by market capitalization and seven of its ten sector component indices exhibited at least some bubble-like behavior over our sample period. Thus the speculative bubble that grew in the 1990s and subsequently collapsed was surprisingly pervasive in the US equity market and it affected numerous sectors including financials and general industrials, rather than being confined to information technology, telecommunications and the media. In addition, we develop a joint model for cross-sectional contagion of bubbles across the sectors and we examine whether there is evidence for bubble spillovers.     

The Value of Private Businesses in the United States

The vast majority of businesses in the United States are privately held, and approximately 99 percent meet a common government definition of “small.” However, we know surprisingly little about the market values of these organizations. In this paper, we estimate the market value of privately held firms in the United States from sources on earnings, assets, and reported market value of multiple forms of business entities, including corporations, partnerships, LLCs, and sole proprietorships. We discuss various theoretical and practical methods of valuing assets, including those arising from economics, neoclassical finance, portfolio theory, and tradition. Concluding that most of them are not appropriate for valuing private firms, we use insights from dynamic programming and ratio analyses from traditional technique to produce a new estimate based on reported taxable earnings, net worth, and tax filing status. Using this approach, we estimate that privately held U.S. firms had earnings that exceeded those of publicly held firms in two recent years by a significant margin. Moreover, the market value of these firms exceeded that of publicly traded firms. We also conclude that policymakers, perhaps grossly, underestimate the true scale of “small” and privately held firms in the economy.     

The impact of risk and uncertainty on expected returns

We study asset pricing in economies featuring both risk and uncertainty. In our empirical analysis, we measure risk via return volatility and uncertainty via the degree of disagreement of professional forecasters, attributing different weights to each forecaster. We empirically model the typical risk-return trade-off and augment these models with our measure of uncertainty. We find stronger empirical evidence for an uncertainty-return trade-off than for the traditional risk-return trade-off. Finally, we investigate the performance of a two-factor model with risk and uncertainty in the cross section.     

Influence of usage situations and consumer shopping orientations on the importance of the retail store environment

This paper is based on a mainly qualitative study of 22 recently married or cohabiting Scottish couples who have set up home together. The research focuses on their food shopping habits in this period of transition as they adjust to living together. Despite the increased involvement of men the findings suggest that much of the responsibility for food shopping still fell on the women in the study. Control over what was bought raised some interesting questions about the concept of the woman as 'gatekeeper' and primary target for food marketers.     

Measurement of Angler Catch-Related Attitudes: An Assessment of Model Structure and Metric Invariance

Catch-related attitudes (CRA) are of particular interest to researchers studying the behavior of recreational anglers. This study assessed factorial structure and invariance of two measurement models of CRA using data from a statewide survey of licensed Texas anglers and a follow-up survey of catfish anglers. We determined that a 4-construct model of CRA provided better fit to the data than a 3-construct model, and was configural and metric invariant across gender, ethnic, and angling context groups. While further scale refinement is needed, our results indicate the current model provides unbiased measurement of CRA across a variety of groups and contexts.