An improved genetic algorithm for robust design in multivariate systems

In a previous article, we presented a genetic algorithm (GA), which finds solutions to problems of robust design in multivariate systems. Based on that GA, we developed a new GA that uses a new desirability function, based on the aggregation of the observed variance of the responses and the squared deviation between the mean of each response and its corresponding target value. Additionally, we also changed the crossover operator from a one-point to a uniform one. We used three different case studies to evaluate the performance of the new GA and also to compare it with the original one. The first case study involved using data from a univariate real system, and the other two employed data obtained from multivariate process simulators. In each of the case studies, the new GA delivered good solutions, which simultaneously adjusted the mean of each response to its corresponding target value. This performance was similar to the one of the original GA. Regarding variability reduction, the new GA worked much better than the original one. In all the case studies, the new GA delivered solutions that simultaneously decreased the standard deviation of each response to almost the minimum possible value. Thus, we conclude that the new GA performs better than the original one, especially regarding variance reduction, which was the main problem exhibited by the original GA.     

Organizational public value and employee life satisfaction: the mediating roles of work engagement and organizational citizenship behavior

Abstract

Building on Meynhardt’s public value concept, which has been developed to make transparent an organization’s contributions to the common good, we investigate the influence of organizational common good practices in the perceptions of employees (measured as public value) on employees’ work attitudes and life satisfaction. The proposed model is tested on a sample of 1045 Swiss employees taken from the 2015 Swiss Public Value Atlas data-set. Study findings reveal that organizational public value is positively related to employee life satisfaction, and that this relationship is partially mediated by work engagement and organizational citizenship behavior. Further, we show that employee common good orientations strengthen the positive impact of organizational public value on employee work engagement and organizational citizenship behavior. Results also provide evidence that the indirect effects of organizational public value on employee life satisfaction via work engagement and organizational citizenship behavior are stronger at higher employee common good orientation levels.     

Following the Crowd—Does Crowdfunding Affect Venture Capitalists’ Selection of Entrepreneurial Ventures?

Given the increasing popularity of crowdfunding as a new means to finance entrepreneurial ventures, we assess whether and how crowdfunding campaign‐specific signals that affect campaign success influence venture capitalists’ selection decisions in ventures’ follow‐up funding process. Our study relies on cross‐referencing a proprietary data set of 56,000 crowdfunding campaigns that ran on Kickstarter between 2009 and 2016 with 100,000 investments in the same period from the Crunchbase data set. Drawing on signaling theory and the microfinance literature, our empirical findings reveal that a successful crowdfunding campaign leads to a higher likelihood to receive follow‐up venture capital (VC) financing, and that there exists an inverted U‐shaped relationship between the funding‐ratio and the probability to receive VC funding. Further, we find statistical evidence that an endorsement by the platform provider has a likewise positive impact on the receipt of VC. Contrary to our expectations, word‐of‐mouth volume seems to be a negligible factor when it comes to follow‐up VC financing. Our results support the view that crowdfunding signals are factored into the VC’s funding decision in order to evaluate the potential of entrepreneurial ventures.     

The dynamics of social agreement according to Conceptual Agreement Theory

Many social phenomena can be viewed as processes in which individuals in social groups develop agreement (e.g., public opinion, the spreading of rumor, the formation of social and linguistic conventions). Conceptual Agreement Theory (CAT) models social agreement as a simplified communicational event in which an Observer \((O)\) and Actor \((A)\) exchange ideas about a concept \(C\) , and where \(O\) uses that information to infer whether \(A\) ’s conceptual state is the same as its own (i.e., to infer agreement). Agreement may be true (when \(O\) infers that \(A\) is thinking \(C\) and this is in fact the case, event \(a1\) ) or illusory (when \(O\) infers that \(A\) is thinking \(C\) and this is not the case, event \(a2\) ). In CAT, concepts that afford \(a1\) or \(a2\) become more salient in the minds of members of social groups. Results from an agent-based model (ABM) and probabilistic model that implement CAT show that, as our conceptual analyses suggested would be the case, the simulated social system selects concepts according to their usefulness to agents in promoting agreement among them (Experiment 1). Furthermore, the ABM exhibits more complex dynamics where similar minded agents cluster and are able to retain useful concepts even when a different group of agents discards them (Experiment 2). We discuss the relevance of CAT and the current findings for analyzing different social communication events, and suggest ways in which CAT could be put to empirical test.     

University–industry linkage evolution: an empirical investigation of relational success factors

University–industry linkages (UILs) offer an array of benefits for the parties involved and the economy at large; however, research provides limited theoretical development and practical advice on successfully managing UILs from initial negotiations to project completion and beyond. This paper, thus, empirically investigates the impact of relational success factors (communication, trust, understanding, individuals) on UIL performance across three phases of evolution, accounting for the changing manifestations of these factors over time. Communication emerged as a consistent predictor of success, with positive interrelationships between individuals advancing all relational success factors across all phases. A positive effect of trust and understanding, however, only emerged for some relationship phases. Results provide managers with insight into forms relational drivers take throughout long‐lasting successful UILs.     

How to motivate people to put their money where their mouth is: What makes employees participate in electronic prediction markets?

Although prediction markets are widely acknowledged to be as effective as other institutions predicting future events, little is known regarding their application in organizational settings. For organizations, prediction markets offer a new technical possibility to make use of the beliefs, information and knowledge of their employees for organizational decisions and forecasts. Based on survey data of 147 users in German-speaking Europe, we show that expected rewards increase user satisfaction. While contribution effort and general reciprocity in isolation have no impact on satisfaction, perceived general reciprocity in conjunction with high rewards is likely to increase user satisfaction. Our findings extend our knowledge on user behavior and emphasize the importance of incentives in prediction markets.     

The Impact of Host Community on Destination (re)branding: A Case Study of Hiroshima

This paper investigates local groups’ opinions on interpreting a dark heritage site for the promotion of tourism and analyzes their roles in tourism activities, through a case study of Hiroshima, Japan. As the first city suffered nuclear bombing, Hiroshima is a primary tourism destination in Japan but faced the challenge of revitalization. Fieldwork investigation methods, including semi‐structured interviews, were applied. The results suggest that local people hold favorable attitudes toward tourism development. They conduct an alternative approach to rejuvenating Hiroshima by identifying the essence of the place – a cheerful and peaceful city – and incorporating it into tourism events. Copyright © 2013 John Wiley & Sons, Ltd.     

Absorbing partner knowledge in R&D collaborations – the influence of founders on potential and realized absorptive capacity

We investigate whether founder participation in research and development collaborations enhances the two dimensions of absorptive capacity (ACAP): potential ACAP and realized ACAP. Based on a longitudinal firm-patent dataset of over 700 collaborations, and using a novel measure of ACAP, we find that founder involvement enhances potential ACAP provided the knowledge bases of focal firm and partner are related. Once knowledge has been absorbed, founder involvement increases realized ACAP irrespective of relatedness. Thus, we highlight the merit of treating the dimensions of ACAP separately by showing differing effects of founder involvement. Our paper emphasizes the outstanding role founders play in the R&D process of their firms. Firms should consider carefully the allocation of team members to R&D projects because team members differ with respect to their ACAP.