Influences of Technological Attributes and Environmental Factors on Technology Commercialization

As part of a new focus on sustainability, this study examines the effects of technological attributes, market potential, and environmental factors on the commercialization of technologies. A survey was conducted on two of Taiwan’s promising sustainable high-tech industries—solar photovoltaic (PV) and light emitting diodes (LEDs). We found that if the technologies possess the specific attributes of innovativeness, genericness, simplicity, and compatibility, as required by the potential adopters, the level of market potential will be more favorable and technology commercialization (TC) probability will be higher. In addition, the results of regression analysis indicate that environmental requirements play moderating roles in affecting the relationships between market potential and TC probability. The empirical findings highlight the role of market potential as a mediator between technological attributes and the likelihood of commercialization. Furthermore, environmental factors moderate the influence of market potential on TC. The results of this study can provide firms’ operations with insights into resource allocation, sustainable development, and competitive advantages in an intensely competitive environment.     

AN ANALYSIS OF FACTORS AFFECTING CROSS DOCKING OPERATIONS

Using simulation, we examine the decisions in moving freight between inbound and outbound trailers in a cross dock. The decisions examined include direct versus indirect handling of pallets, number of open receiving doors, door layout, number of forklifts, size of cross dock and freight mix. This study provides useful insights on handling freight in a cross dock.     

Corporate governance in the 2007–2008 financial crisis: Evidence from financial institutions worldwide

This paper investigates the influence of corporate governance on financial firms' performance during the 2007–2008 financial crisis. Using a unique dataset of 296 financial firms from 30 countries that were at the center of the crisis, we find that firms with more independent boards and higher institutional ownership experienced worse stock returns during the crisis period. Further exploration suggests that this is because (1) firms with higher institutional ownership took more risk prior to the crisis, which resulted in larger shareholder losses during the crisis period, and (2) firms with more independent boards raised more equity capital during the crisis, which led to a wealth transfer from existing shareholders to debtholders. Overall, our findings add to the literature by examining the corporate governance determinants of financial firms' performance during the 2007–2008 crisis.     

An Intertemporal CAPM Approach to Evaluate Mutual Fund Performance

Merton (1973) and Campbell (1993) have demonstrated that if an investor anticipates information shifts, he will adjust his portfolio choice today in an attempt to hedge these shifts. Exploiting these insights, we construct a new performance measure to evaluate fund managers' hedging ability. This new measure is different from two widely adopted performance evaluation measures: securities selectivity and market timing. Moreover, an econometric methodology is developed to simultaneously estimate the magnitudes of these three portfolio performance evaluation measures. The results show that mutual fund managers are on average with positive security selection and negative market timing ability. Furthermore, the mutual funds with investment style classified as Asset Allocation generally have positive hedging timing ability.     

Investor protection and analysts’ cash flow forecasts around the world

We find that analysts are more likely to provide cash flow forecasts in countries with weak investor protection. This finding is consistent with our hypothesis that market participants demand (and analysts supply) cash flow information when weak investor protection results in earnings that are less likely to reflect underlying economic performance. Our results suggest that information intermediaries respond to market-based incentives to attenuate the adverse effects of country-level institutional factors on earnings’ usefulness. These findings contribute to the literature by shedding light on the institutional determinants of analysts’ research activities, and on the nature of the financial information they generate.     

Relinking Cross‐functional Collaboration,Knowledge Integration Mechanisms,and Product Innovation Performance: a Moderated Mediation Model

Previous research shows that knowledge integration mechanisms (KIMs) mediate the cross‐functional collaboration‐product innovation performance relationship; however, this mediating effect seems to be rather weak. This study, in contrast, develops a moderated mediation (MOME) model to argue that such a mediating effect is moderated by product innovativeness. A sample comprised of 106 manufacturing firms is utilized in the analyses. A moderated‐mediation approach shows that the mediating effect of KIMs in the linkage between cross‐functional collaboration and product innovation performance varies by different perspectives of product innovativeness. From an industry (macro‐level) perspective, product innovativeness positively moderates the mediating effect of KIMs on product innovation performance; in contrast, such a moderating effect is not significant under a firm (micro‐level) perspective. Copyright © 2011 ASAC. Published by John Wiley & Sons, Ltd.     

An overview of Internet-based surveys in hospitality and tourism journals

Survey research has reached an era when the Internet is commonly used as a research tool in different fields of study. Yet, the use of this method in tourism and hospitality research has not been fully explored. This study provides a state-of-the-art assessment of journal publications in the past ten years to reveal how the Internet has been incorporated into tourism and hospitality research. Various aspects of online research in tourism and hospitality are identified via reviewing relevant articles retrieved from the EBSCOhost.     

IMPACT OF DIVIDEND‐PROTECTED EMPLOYEE STOCK OPTIONS ON PAYOUT POLICIES: EVIDENCE FROM TAIWAN

Abstract. This study used a sample of 1035 Taiwanese firms to examine the impact of dividend protected employee stock options on stock repurchase and cash dividend policies from 2000 to 2005. This study finds a positive relationship between cash dividends and executive options, implying that executives holding stock options might prefer to distribute cash dividends to boost the stock price. This result, unlike in earlier studies, arises from the dividend protected characteristic of Taiwanese employee stock options. Finally, free cash flow, firm profitability, level of debt, investment opportunities and firm size are found to considerably influence payout decisions.     

Can You Hear Me Now? Communication in Virtual Product Development Teams*

Globalization and technological advances are driving organizations to extend the boundaries of new product development (NPD) teams from traditional colocated settings to dispersed or virtual settings. Virtual NPD teams have a wide array of information and communication technologies (ICTs) at their disposal. ICTs allow team members to communicate and collaborate as they cope with the opportunities and challenges of cross‐boundary work. The purpose of this paper is to explore ICT use by members of virtual NPD teams. This study presents an exploratory test and integration of two competing perspectives of media use in virtual teams: media capacity theories and social dynamic media theories. Specifically, this paper examines the role of task type, organizational context, and ICT type as critical contingency variables affecting ICT use. It also examines how different patterns of ICT use relate to individual perceptions of team performance. The findings from this study of 184 members of virtual NPD teams in three global firms suggest that communication via ICTs in virtual NPD teams is contingent on a range of factors.     

Auditing Standards in China—A Comparative Analysis with Relevant International Standards and Guidelines

The continuing and deepening economic reforms in China have brought many changes both socially and economically to the society. The primary function of auditing in China has begun to shift away from the traditional tax compliance assessment towards the credibility lending to financial statements. The economic reforms and the development of the Accounting Standards for Business Enterprises have necessitated the parallel development of auditing standards in China. While some significant differences exist, the new Chinese auditing standards are, in a number of important aspects, similar to the professional standards promulgated by the International Federation of Accountants. The development of a comprehensive body of standards, auditor independence, the role of certain auditing techniques, and certified public accountant (CPA) population are the major areas that China needs to improve. Opening up the Chinese accounting industry will trigger significant advances in the implementation of Chinese standards and the development of the Chinese accounting profession.