Determinants of the Incidence and Scale of Seed Capital Investments by Venture Capital Firms

Employing both behavioral decision making and agency theories, our study seeks to identify those factors that influence a venture capital (VC) firm’s decision to undertake seed capital investments and, subsequently, the scale of such activity. Using data on the investments made by 2949 VC funds raised worldwide between 1962 and 2002, we find investor age, timing of investment, and fund location to be of importance. In addition, the size of the fund and the existing number of portfolio firms exert opposite influences on the level of seed capital activity of the VC firm. These results suggest that seed activity is a valuable source of market intelligence for leading VC firms seeking proactively to identify and invest in novel technologies.      

Common risk factors in returns in Asian emerging stock markets

This paper examines the application of the Fama and French's (1993) three-factor model in three Asian emerging markets (Hong Kong, Singapore and Taiwan). The empirical evidence is consistent with the US findings that the model can explain most of the variations in average returns. However, we find that the main contributing factor is the contemporaneous market excess returns. The impact of the size effect and book-to-market (BE/ME) factor is limited and in some cases insignificant. When the three-factor model is modified by using lagged market excess returns instead in order to check for the predictability of the market factor, the explanatory power of the model drops substantially but both the risk factors for size and BE/ME are now able to contribute significantly in explaining the cross-sectional variations of stock returns. Their explanatory powers are strongest for small-size with high BE/ME portfolios. The robustness of our results is also checked for the separation of up and down markets periods and January effect.     

On-line modeling of thermally hazardous batch processes

Reaction kinetics models, which were originally developed to define safe process designs for potentially hazardous batch aminations of nitroaromatics, are being applied on-line for advisory control. The simulation takes as input live time-temperature data, and calculates variables such as, conversions, heat-release rates and pressure profiles. Results are continuously compared to measured data to ensure no unusual safety behavior throughout the reaction cycle. Model outputs also are employed to predict end-of-batch conditions to minimize processing times and yield uniform quality products.     

The modified Tichy TPC framework for pattern matching and hypothesis development in historical case study research

Scholars' calls for an integrating view of the technical, political, and cultural (TPC) aspects of management lead to examining Tichy's TPC framework as the basis of such a view. Tichy's framework is shown to require modification to include the TPC systems of a firm's customers and competitors, and a modified TPC framework is proposed. This framework's usefulness for pattern matching to identify causes of performance is demonstrated in historical case research into a strategic group marketing IBM‐compatible mainframes. A result is four testable hypotheses suggesting how firms' success marketing to organizations depends on effective integration between marketing and general management, and a potential cause of variations in performance within strategic groups and during movement between strategic groups. In addition, a method for testing and developing hypotheses by pattern matching on a modified TPC framework is demonstrated. Copyright © 2000 John Wiley & Sons, Ltd.     

Meeting user information needs: The impact of major changes in FASB and GASB standards on financial reporting by colleges and universities

This longitudinal study reports the impact of changes in generally accepted accounting principles on financial statement disclosures for 100 public and private institutions of higher education. Disclosures from the period when all colleges and universities followed the same accounting standards are compared with disclosures in periods after major changes in accounting and reporting standards were made by the Financial Accounting Standards Board (FASB) for private institutions and by the Governmental Accounting Standards Board (GASB) for public institutions. We find that an importance-weighted disclosure index shows that user needs are better met using the new reporting standards for public but not private institutions. An expanded unweighted index, however, shows improvement for both public and private colleges and universities. Using this disclosure index, the improvement for universities reporting under GASB standards exceeded the improvement for those reporting under FASB standards.     

Relationship marketing effectiveness: The role of involvement

The term relationship marketing has been used to describe a wide range of marketing tactics. In this article, three dimensions that may be used to categorize these tactics are identified: personalization, individualization, and continuity. Research is presented demonstrating that the effectiveness of each type of tactic is influenced by buyer involvement in the product category, although the nature of this influence differs by country and gender. This suggests that managers contemplating relationship marketing programs should consider buyer involvement levels, and that researchers studying relationship marketing effectiveness should control for this variable. © 1998 John Wiley & Sons, Inc.     

Knowledge,attitudes, and practices of family physicians and nurses regarding unintentional injuries among children under 15 years in Cairo,Egypt

Unintentional injuries are a leading cause of death among children, especially in developing countries. Lack of reliable data regarding primary health care professionals' role in childhood unintentional injury prevention hinders the development of effective prevention strategies. A survey of 99 family physicians and nurses from 10 family health centres sought to develop insight into their knowledge, attitudes, and practices regarding unintentional injury prevention for children <15 in Cairo, Egypt. Approximately, 60% were familiar with the terms unintentional injuries and injury prevention. Falls and road traffic crashes were identified as primary causes of childhood injuries by 54.5%. While >90% agreed injury prevention counselling (IPC) could be effective, only 50.5% provided IPC. Lack of time and educational materials were the leading barriers to provision of IPC (91.9% and 85.9%, respectively), while thinking counselling is not part of their clinical duties was the least perceived barrier (9.1%). There is a large disconnect between providers' knowledge, attitudes and practices regarding IPC, more training and provision of counselling tools are essential for improving IPC by Egyptian medical providers.