The derivation of the NPV variance of a risky capital investment project with first-order autoregressive cash flows and autoregressive conditional heteroscedastic variances

In this article, the authors develop a closed-form solution for assessing the capital investment project NPV variance when cash flows obey a first-order autoregressive process. A distinction is established between static and dynamic solutions as the authors focus on the case involving partial positive dependence between cash flows. Under a Markovian process, the NPV solution is stationary in mean but not strictly in variance. Constraining the process to become fully stationary will overestimate the NPV variance. Finally, the authors show that the Markovian NPV variance closed-form solution is robust to the introduction of autoregressive conditional heteroscedastic variances complying with a GARCH(1,1) process; it will, however, have its value increased and consequently the riskiness of the capital investment project.     

The framing of product ideas in the making: a case study of the development of an energy saving pump

Research regarding work with ideas in industrial settings has predominantly treated ideas as rather stable ‘black boxes’. This article contributes a new understanding of idea work and seeks to expand our understanding of how a product concept is constituted and synthesised through socio-material interaction of organisational members and engagement in idea work. The article contributes a case study of the development process behind the energy-saving Alpha Pro circulator launched by the Danish pump manufacturer Grundfos. Based on an analysis of how organisational players engage in the controversial and shifting understandings of what seems to constitute a successful product, the article offers a new perspective on navigating the players’ ideas in the political processes of innovation. It suggests that navigation of technological frames can offer a new perspective to make explicit the implicated actors’ world views, including what they perceive as relevant problems and related strategies for solving them.     

Implementing technology roadmapping with supplier selection for semiconductor manufacturing companies

The rapid pace of technological innovation in the semiconductor manufacturing industry has necessitated the acquisition of competitive advantage from strategic technology planning. The vital requisite for this is well-timed investment including the replacement of old equipment with advanced new equipment. In such investment, selecting the appropriate semiconductor manufacturing equipment from the appropriate supplier is a key factor for successful technology planning. Therefore, equipment supplier selection should be taken into account in the technology planning of semiconductor manufacturing companies. One of the most widely used tools for technology planning is the technology roadmap (TRM). However, conventional TRMs have not considered the task of supplier selection. To address this limitation, this study proposes an extended, four-layered TRM that adds the layer of equipment supplier to the conventional layers of market, product, and technology. The equipment suppliers to be included in the new layer are selected from the supplier portfolio matrix composed of two performance axes: supplier performance and equipment performance. The candidates of equipment suppliers are placed on the supplier portfolio matrix according to the values of two axes determined by evaluation using the analytic hierarchy process (AHP). The proposed TRM is expected to be useful for technology planning by adding a consideration for equipment supplier selection in semiconductor manufacturing companies.     

The effect of interfirm codevelopment competency on the innovation of the e-service process and product: the perspective of internal/external technology integration mechanisms

Service innovations are central to today's rapidly changing business environment. Because of heterogeneous customer demands, rapid product life cycles, and advances in information technology (IT) for services management, an expanded conceptualisation of e-service innovation is required. This study examines the mediating effects of internal and external technology integration mechanisms among interfirm codevelopment competency and the innovation of the e-service process and product. A field survey was conducted of IT departments in information service firms to test the theoretical model. IT managers were the key informants. Partial least squares (PLS) analyses supported the main premises of the proposed research model. The data suggest that firms in the information service industry emphasise interfirm codevelopment competency in developing e-service innovations but use different sets of technology integration mechanisms to enhance e-service product and process innovation.     

From innovation to market entry: a strategic management model for new technologies

In this paper, we introduce a new framework that generates a list of strategic actions to support successful management of the innovation process as new technologies are taken to market. The framework links different stakeholders inside and outside the organisation to obtain an holistic view of the requirements necessary to develop the new technology. It integrates and synthesises existing frameworks into an inclusive set of guidelines. The framework is then tested in a case study located in a mid-size semiconductor organisation currently seeking new business opportunities in the emerging photovoltaic market. We conclude by reflecting on the usefulness of the model. Theoretically, the paper contributes to the literature on the management of the introduction of new technologies; practically, the framework provides a normative tool for practising managers.     

The Influence of Innovative Organizational Culture on Marketing Strategy Formulation and Results

ABSTRACT

This article's objective is to analyze the influence innovative organizational culture has on marketing strategy formulation and results, and how this relationship affects organizational performance. The theoretical basis lies in Menon et al.'s (1999 Menon , A. , Bharadwaj , S. G. , Adidam , P. T. , and Edison , S. W. ( 1999 ). Antecedents and consequences of marketing strategy making: A model and a test . Journal of Marketing , 63 , 18 – 40 .[Crossref], [Web of Science ®] , [Google Scholar]) model. The methodology included a survey with medium to large Brazilian companies in different sectors. The final sample consisted of 153 questionnaires that were valid for analysis. Techniques for statistical analysis including singular and multivariate methods were used, from which the relationships between constructs were established by structural equation modeling. Results show a positive relationship between innovative organizational culture, the marketing strategy process, and organizational performance. However, innovative culture does not have a direct influence on performance.     

我国高技术服务业研发机构科技创新效率评价

构建了高技术服务业研发机构科技创新效率评价指标体系。利用2010—2011年我国高技术服务业7个细分行业研发机构的科技创新活动数据,运用数据包络分析法,测度了2010—2011年我国高技术服务业7个细分行业研发机构的科技创新效率,比较了各细分行业研发机构的科技创新效率差异,并分析其原因。进而利用理想点模型,对2010—2011年我国高技术服务业研发机构的科技创新效率进行了排名。研究结果显示:我国高技术服务业研发机构的科技创新效率总体良好,但行业差异较大。最后,提出促进我国高技术服务业发展的对策建议。     

基于网络层次分析法的区域软实力评价——以江苏省为例

基于国内外软实力研究文献,考虑各指标间的交互影响、指标的数据获取和量化等因素,构建了包括三级指标的区域软实力评价指标体系,并利用网络层次分析法对江苏省的软实力进行评价。研究结果表明:江苏省的综合软实力排名为全国第二,这主要得益于其区域文化、科技创新能力以及和谐度的排名靠前,而扩散度、人口素质、区域环境以及公共服务的得分偏低。据此提出强化江苏省综合软实力的相应措施:应进一步强化各类传媒的扩散作用、完善公共服务体制以及优化投资以及居住环境等。     

商品金融化与产品定价机制变革——从近代欧洲大宗商品交易中心形成过程谈起

近年来,在金融全球化背景下,商品金融化趋势愈加显著。商品金融化并非新生事物,早在近代欧洲,一些大宗商品贸易已开始被赋予金融属性。本文从近代欧洲大宗商品交易中心的形成过程的历史视角研究商品金融化与产品定价机制变革关系,对荷兰的大宗商品交易中心发展过程及商品金融属性的表现特征研究发现,各类金融衍生工具在近代初期已从商品交易中发展起来,并在阿姆斯特丹商品市场上大量应用。由于过分依赖资本收益,国内产业衰落,荷兰商品交易中心地位没能保持下去,在工业革命前半个世纪甚至更早,欧洲商品交易中心从阿姆斯特丹转移至伦敦。从交易中心的形成与转移,可以看到商品金融化进程中基本条件的意义与作用,以及商品金融化问题的本质。这同时揭示出当代商品金融化趋势与产品定价机制变革的关系。     

基于AHP的失地农民保障需求分析

随着失地农民增加,失地农民保障成为日益紧迫的问题。参考前期研究文献,选择养老保障、医疗保障、经济保障、就业保障四个要素作为失地农民保障需求指标,运用德尔菲法并结合层次分析模型,采用定量和定性结合方法对失地农民的保障需求进行分析,发现失地农民最强烈的保障需求是经济保障,各项指标中失地农民更看重的是经济方面的货币补偿、保障金额和经济收入等,提出保障政策要结合马斯洛需求层次理论,设置更合理的保障金额和保障范围,确保失地农民经济来源,保证其可持续发展。