Four years on – are the Gazelles still running? A longitudinal study of firm performance after a period of rapid growth

Gazelles, or very rapidly growing firms, are important because they contribute disproportionately to economic growth. There is a concern that some of these firms pursue growth too aggressively resulting in lower subsequent performance. We investigate the relationship between growth and subsequent profitability for gazelle firms, and how this is moderated by firm strategy. Previous empirical research regarding the growth-profitability relationship for firms in general is rather inconclusive, with only one study specifically investigating gazelle firms. Likewise, there are theoretical arguments both for and against growth leading to profitability that equally apply to gazelle firms. Further, while contingency theory might suggest the relationship depends on the firm’s strategy, earlier studies have not investigated this relationship. We address these questions using longitudinal data (seven years) for a sample of 964 Danish Gazelle firms. Our study finds a clear positive relationship between growth and subsequent profitability among gazelle firms. Moreover, this relationship is stronger for firms pursuing a broad market strategy rather than a focus or niche strategy. An important managerial implication is that the growth strategy should be clearly integrated with the general strategic orientation of the firm.

The acquisition of an artificial logographic script and bilingual working memory : Evidence for L1-specific orthographic processing skills transfer in Chinese-English bilinguals

Studies of orthographic skills transfer between languages focus mostly on working memory (WM) ability in alphabetic first language (L1) speakers when learning another, often alphabetically congruent, language. We report two studies that, instead, explored the transferability of L1 orthographic processing skills in WM in logographic-L1 and alphabetic-L1 speakers. English-French bilingual and English monolingual (alphabetic-L1) speakers, and Chinese-English (logographic-L1) speakers, learned a set of artificial logographs and associated meanings (Study 1). The logographs were used in WM tasks with and without concurrent articulatory or visuo-spatial suppression. The logographic-L1 bilinguals were markedly less affected by articulatory suppression than alphabetic-L1 monolinguals (who did not differ from their bilingual peers). Bilinguals overall were less affected by spatial interference, reflecting superior phonological processing skills or, conceivably, greater executive control. A comparison of span sizes for meaningful and meaningless logographs (Study 2) replicated these findings. However, the logographic-L1 bilinguals’ spans in L1 were measurably greater than those of their alphabetic-L1 (bilingual and monolingual) peers; a finding unaccounted for by faster articulation rates or differences in general intelligence. The overall pattern of results suggests an advantage (possibly perceptual) for logographic-L1 speakers, over and above the bilingual advantage also seen elsewhere in third language (L3) acquisition.

Thermal performance of non-load bearing LSF walls using numerical studies

Fire safety of light gauge cold-formed steel frame (LSF) wall systems is significant to the build-ing design. Gypsum plasterboard is widely used as a fire safety material in the building industry. It contains gypsum (CaSO4.2H2O), Calcium Carbonate (CaCO3) and most importantly free and chemically bound water in its crystal structure. The dehydration of the gypsum and the decomposition of Calcium Carbonate absorb heat, which gives the gypsum plasterboard fire resistant qualities. Recently a new composite panel system was developed, where a thin insulation layer was used externally between two plasterboards to improve the fire performance of LSF walls. In this research, finite element thermal models of both the traditional LSF wall panels with cavity insulation and the new LSF composite wall panels were developed to simulate their thermal behaviour under standard and realistic design fire conditions. Suitable thermal properties of gypsum plaster-board, insulation materials and steel were used. The developed models were then validated by comparing their results with fire test results. This paper presents the details of the developed finite element models of non-load bearing LSF wall panels and the thermal analysis results. It has shown that finite element models can be used to simulate the thermal behaviour of LSF walls with varying configurations of insulations and plasterboards. The results show that the use of cavity insulation was detrimental to the fire rating of LSF walls while the use of external insulation offered superior thermal protection. Effects of real fire conditions are also presented.

The relationship between academic library usage and perceived personal performance in Kuwait

Academic libraries around the world often have to justify high maintenance costs. High maintenance costs of university libraries are often justified by the belief that regular use of an academic library improves the grades of students. However, this is a difficult statement to support, therefore demonstrating the link between library use and student outcomes is critical to ensuring that library investment continues. Questionnaires and interviews were conducted and the findings were analysed to derive users’ perceptions. The findings revealed interesting results regarding how users make use of the library and how users feel the library improves their personal performance. Overall, the perception of all three groups of the academic libraries within Kuwait is positive, however many users are dissatisfied with some academic library services. Students answered positively regarding their grades and use of the academic library. Academics and administrators were generally positive and offered an experienced insight into the quality of the library. This study offers the first perception based results in Kuwait. The inclusion of administrators’ perceptions is also novel in terms of the Gulf States. A refined model was designed based on the overall findings within the study. This model can be applied to any academic library, regardless of size or collection type. Based on findings, the researcher recommends taking the following points into consideration in order to improve library services and facilities for all users. Improvements could be made in the structure of library training courses and academic libraries should be providing flexible spaces for individuals and group study as well as social activities.

Structural performance of reinforced concrete beams repairing from spalling

The effectiveness of a repair work for the restoration of spalled reinforced concrete (r.c.) structures depends to a great extent, on their ability to restore the structural integrity of the r.c. element, to restore its serviceability and to protect the reinforcements from further deterioration. This paper presents results of a study concocted to investigate the structural performance of eight spalled r.c. beams repaired using two advanced repair materials in various zones for comparison purposes, namely a free flowing self compacting mortar (FFSCM) and a polymer Modified cementitious mortar (PMCM). The repair technique adopted was that for the repair of spalled concrete in which the bond between the concrete and steel was completely lost due to reinforcement corrosion or the effect of fire or impact. The beams used for the experiment were first cast, then hacked at various zones before they were repaired except for the control beam. The beam specimens were then loaded to failure under four point loadings. The structural response of each beam was evaluated in terms of first crack load, cracking behavior, crack pattern, deflection, variation of strains in the concrete and steel, collapse load and the modes of failure. The results of the test showed that, the repair materials applied on the various zones of the beams were able to restore more than 100% of the beams’ capacity and that FFSCM gave a better overall performance.

The role of alternative message strategies in advertising performance : challenges to the B2B marketing paradigm

In this study the impact of message strategy on advertising performance will be in examined in a business-to-business (B2B) context. From a theoretical standpoint, the study will explore differences in message type between symbolic and literal approaches in B2B advertisements. While there has been much discussion on the effect of symbolism, (eg. metaphors, abstract images and figurative language), an empirically-tested scale that measures the degree of symbolism has not been developed. This research project focuses on development of a methodological scale to accurately test the difference in the direction of message appeals. Thus, insights in the role of message strategy in the B2B adoption process are anticipated with contributions in future consumer and business advertising research.

Performance analysis of PTP components for IEC 61850 process bus applications

New substation automation applications, such as sampled value process buses and synchrophasors, require sampling accuracy of 1 µs or better. The Precision Time Protocol (PTP), IEEE Std 1588, achieves this level of performance and integrates well into Ethernet based substation networks. This paper takes a systematic approach to the performance evaluation of commercially available PTP devices (grandmaster, slave, transparent and boundary clocks) from a variety of manufacturers. The ``error budget'' is set by the performance requirements of each application. The ``expenditure'' of this error budget by each component is valuable information for a system designer. The component information is used to design a synchronization system that meets the overall functional requirements. The quantitative performance data presented shows that this testing is effective and informative. Results from testing PTP performance in the presence of sampled value process bus traffic demonstrate the benefit of a ``bottom up'' component testing approach combined with ``top down'' system verification tests. A test method that uses a precision Ethernet capture card, rather than dedicated PTP test sets, to determine the Correction Field Error of transparent clocks is presented. This test is particularly relevant for highly loaded Ethernet networks with stringent timing requirements. The methods presented can be used for development purposes by manufacturers, or by system integrators for acceptance testing. A sampled value process bus was used as the test application for the systematic approach described in this paper. The test approach was applied, components were selected, and the system performance verified to meet the application's requirements. Systematic testing, as presented in this paper, is applicable to a range of industries that use, rather than develop, PTP for time transfer.

The role of organisational concern for workplace fairness in the choice of a performance mesaurement system

Prior studies linking performance management systems (PMS) and organisational justice have examined how PMS influence procedural fairness. Our investigation differs from these studies. First, it examines fairness as an antecedent (instead of as a consequence) of the choice of PMS. Second, instead of conceptualising organisational fairness as procedural fairness, it relies on the impression management interpretation of organisational fairness. Hence, the study investigates how the need of senior managers to cultivate an impression of being fair is related to the choice of PMS systems and employee outcomes. Based on a sample of 276 employees, the results indicate that the need of senior management to cultivate an impression of being fair is associated with employee performance. They also indicate that a substantial component of these effects is indirect through the choice of comprehensive performance measures (CPM) and employee job satisfaction. These findings highlight the importance of organisational concern for workplace fairness as an antecedent of choice of CPM. From a theoretical perspective, the adoption of the impression management interpretation of organisational fairness contributes by providing new insights into the relationship between fairness and choice of PMS from a perspective that is different from those used in prior management accounting research.

Business planning, idea change, flexibility and performance: the best of both worlds?

The relationships between business planning and performance have divided the entrepreneurship research community for decades (Brinckmann et al, 2010). One side of this debate is the assumption that business plans may lock the firm in a specific direction early on, impede the firm to adapt to the changing market conditions (Dencker et al., 2009) and eventually, cause escalation of commitments by introducing rigidity (Vesper, 1993). Conversely, feedback received from the production and presentation of business plans may also lead the firm to take corrective actions. However, the mechanisms underlying the relationships between changes in business ideas, business plans and the performance of nascent firms are still largely unknown. While too many business idea changes may confuse stakeholders, exhaust the firm’s resources and hinder the undergoing legitimization process, some flexibility during the early stages of the venture may be beneficial to cope with the uncertainties surrounding new venture creation (Knight, 1921; March, 1982; Stinchcombe, 1965; Weick, 1979). Previous research has emphasized adaptability and flexibility as key success factors through effectual logic and interaction with the market (Sarasvathy, 2001; 2007) or improvisation and trial-and-error (Miner et al, 2001). However, those studies did not specifically investigate the role of business planning. Our objective is to reconcile those seemingly opposing views (flexibility versus rigidity) by undertaking a more fine-grained analysis at the relationships between business planning and changes in business ideas on a large longitudinal sample of nascent firms.

Consecutive days of cold water immersion: effects on cycling performance and heart rate variability.

We investigated performance and heart rate (HR) variability (HRV) over consecutive days of cycling with post-exercise cold water immersion (CWI) or passive recovery (PAS). In a crossover design, 11 cyclists completed two separate 3-day training blocks (120 min cycling per day, 66 maximal sprints, 9 min time trialling [TT]), followed by 2 days of recovery-based training. The cyclists recovered from each training session by standing in cold water (10 °C) or at room temperature (27 °C) for 5 min. Mean power for sprints, total TT work and HR were assessed during each session. Resting vagal-HRV (natural logarithm of square-root of mean squared differences of successive R-R intervals; ln rMSSD) was assessed after exercise, after the recovery intervention, during sleep and upon waking. CWI allowed better maintenance of mean sprint power (between-trial difference [90 % confidence limits] +12.4 % [5.9; 18.9]), cadence (+2.0 % [0.6; 3.5]), and mean HR during exercise (+1.6 % [0.0; 3.2]) compared with PAS. ln rMSSD immediately following CWI was higher (+144 % [92; 211]) compared with PAS. There was no difference between the trials in TT performance (-0.2 % [-3.5; 3.0]) or waking ln rMSSD (-1.2 % [-5.9; 3.4]). CWI helps to maintain sprint performance during consecutive days of training, whereas its effects on vagal-HRV vary over time and depend on prior exercise intensity.

The effect of post-exercise hydrotherapy on subsequent exercise performance and heart rate variability

We investigated the effect of hydrotherapy on time-trial performance and cardiac parasympathetic reactivation during recovery from intense training. On three occasions, 18 well-trained cyclists completed 60 min high-intensity cycling, followed 20 min later by one of three 10-min recovery interventions: passive rest (PAS), cold water immersion (CWI), or contrast water immersion (CWT). The cyclists then rested quietly for 160 min with R-R intervals and perceptions of recovery recorded every 30 min. Cardiac parasympathetic activity was evaluated using the natural logarithm of the square root of mean squared differences of successive R-R intervals (ln rMSSD). Finally, the cyclists completed a work-based cycling time trial. Effects were examined using magnitude-based inferences. Differences in time-trial performance between the three trials were trivial. Compared with PAS, general fatigue was very likely lower for CWI (difference [90% confidence limits; -12% (-18; -5)]) and CWT [-11% (-19; -2)]. Leg soreness was almost certainly lower following CWI [-22% (-30; -14)] and CWT [-27% (-37; -15)]. The change in mean ln rMSSD following the recovery interventions (ln rMSSD(Post-interv)) was almost certainly higher following CWI [16.0% (10.4; 23.2)] and very likely higher following CWT [12.5% (5.5; 20.0)] compared with PAS, and possibly higher following CWI [3.7% (-0.9; 8.4)] compared with CWT. The correlations between performance, ln rMSSD(Post-interv) and perceptions of recovery were unclear. A moderate correlation was observed between ln rMSSD(Post-interv) and leg soreness [r = -0.50 (-0.66; -0.29)]. Although the effects of CWI and CWT on performance were trivial, the beneficial effects on perceptions of recovery support the use of these recovery strategies.

Compact arrays for mobile platforms : trade-off between size and performance for SDMA and MIMO applications

Smart antenna receiver and transmitter systems consist of multi-port arrays with an individual receiver channel (including ADC) and an individual transmitter channel (including DAC)at every of the M antenna ports, respectively. By means of digital beamforming, an unlimited number of simultaneous complex-valued vector radiation patterns with M-1 degrees of freedom can be formed. Applications of smart antennas in communication systems include space-division multiple access. If both stations of a communication link are equipped with smart antennas (multiple-input-multiple-output, MIMO). multiple independent channels can be formed in a "multi-path-rich" environment. In this article, it will be shown that under certain circumstances, the correlation between signals from adjacent ports of a dense array (M + ΔM elements) can be kept as low as the correlation between signals from adjacent ports of a conventional array (M elements and half-wavelength pacing). This attractive feature is attained by means of a novel approach which employs a RF decoupling network at the array ports in order to form new ports which are decoupled and associated with mutually orthogonal (de-correlated) radiation patterns.