Systemic absorptive capacity: creating early-to-market returns through R&D alliances

For most complex emergent technologies, product-market success depends on efficient linkages between changing lead innovators within the R&D process. In this paper, our unit of analysis is a complex high technology product and the system of alliance linkages formed to progress a product through R&D milestones. We present a model and evidence for advancing our understanding of how achieving early-to-market returns depends on systemic absorptive capacity. This systemic absorptive capacity is the cumulative efficiency in the use of absorptive capacity to link changing lead innovators across successive milestones in R&D product development. We advance propositions of how systemic absorptive capacity can explain performance differences between rival product development systems competing for early-to-market returns with similar products through accelerating speed to market, cost and quality advantages. These explanations are contrasted with the conclusions of previous studies that have focused on absorptive capacity of single firms or single alliances in RD.

Size and book to market effects and the Fama French three factor asset pricing model: Evidence from the Australian stockmarket

The present study adds to the sparse published Australian literature on the size effect, the book to market (BM) effect and the ability of the Fama French three factor model to account for these effects and to improve on the asset pricing ability of the Capital Asset Pricing Model (CAPM). The present study extends the 1981–1991 period examined by Halliwell, Heaney and Sawicki (1999) a further 10 years to 2000 and addresses several limitations and findings of that research. In contrast to Halliwell, Heaney and Sawicki the current study finds the three factor model provides significantly improved explanatory power over the CAPM, and evidence that the BM factor plays a role in asset pricing.

Prescription drug samples: Does this marketing strategy counteract policies for quality use of medicines?

Prescription drug samples, as used by the pharmaceutical industry to market their products, are of current interest because of their influence on prescribing, and their potential impact on consumer safety. Very little research has been conducted into the use and misuse of prescription drug samples, and the influence of samples on health policies designed to improve the rational use of medicines. This is a topical issue in the prescription drug debate, with increasing costs and increasing concerns about optimizing use of medicines. This manuscript critically evaluates the research that has been conducted to date about prescription drug samples, discusses the issues raised in the context of traditional marketing theory, and suggests possible alternatives for the future.

Economic Incentives to Conserve Wildlife on Private Lands: Analysis and Policy

Some believe that provision of private property rights in wildlife on private land can provide a powerful economic incentive for nature conservation because it enables property owners to market such wildlife or its attributes. If such marketing is profitable, private landholders will conserve the wildlife concerned and its required habitat. But land is not always most profitably used for exploitation of wildlife, and many economic values of wildlife (such as non-use economic values) cannot be marketed. The mobility of some wildlife (their fugitive nature) adds to the limitations of the private property approach. While some species may be conserved by this approach, it is suboptimal as a single policy approach to nature conservation. Nevertheless, it is being experimented with in the Northern Territory of Australia where landholders have the possibility of harvesting on their properties a quota of eggs and chicks of red-tailed black cockatoos for commercial sale. This scheme is expected to provide an incentive to private landholders to retain hollow trees essential for the nesting of these birds. Aspects of this approach are analysed using this case, and related ones, from Northern Australia. It is noted that the private property rights approach adopted in southern Africa is unlikely to be equally successful everywhere. The long-term survival of some species depends on their ability to use private lands without severe harassment, either for their migration or to supplement their available resources, for example, the Asian elephant in Sri Lanka. Nature conservation on private land is often a useful, if not essential, supplement to conservation on public lands. Community and public incentives for such conservation are outlined.

Supply chain management as beyond operational efficiency

The orthodoxy of supply chain management (SCM) emphasises competitive advantage through increased operational efficiency and market responsiveness from production and distribution processes into the hands of consumers. It anticipates that future competition will be between chains rather than between firms. While well established in other industry sectors, the SCM concept is newly developed in the Australian agri-food sector. Critical review of the concept has identified key issues of power among channel members, processes of chain initiation and innovation, and the inability of SCM to offer a viable business strategy for some firms. Building on those insights, this paper examines the supply chain concept for horticulture. Horticultural products are characterised by perishability, heterogeneity and lags in production response to market signals. Producers’ profits are vulnerable to quantity, timing of supply and product specification. Many supply chains in smaller industries are loose, fragmented, interwoven, unstable and unique! Firms operating within these environments need an astute understanding of the chains, the hierarchy of channel members and their relative position. Effective business strategies – for individual firms and supply chains - need to be developed and redeveloped to accommodate the dynamic nature of horticulture. Two case studies are discussed as contributions to this early stage of the theoretical development of supply chain management. The SCM concept also has implications for horticultural researchers, involving a wider range of industry stakeholders, technical problems and research skills. As for business management, the usefulness of the concept will depend on its capacity to increase responsiveness to customers’ preferences and customer value.

Managing new product development in the Chinese steel industry: An empirical investigation

This study explores several important aspects of the management of new product development (NPD) in the Chinese steel industry. Specifically it explores NPD success factors, the importance of management functions to new product success and measures of new product success from the perspective of the industry's practitioners. Based on a sample of 190 industrial practitioners from 18 Chinese steel companies, the study provides a mixed picture as China makes the transition from a centrally-controlled to market-based economy. On one hand, respondents ranked understanding users' needs as the most important factor influencing the performance of the new products. Further, formulating new product strategy and strengthening market research are perceived as the most important managerial functions in NPD. However, technical performance measures are regarded as more important and are more widely used in industry than market-based or financial measures of success.

Economic Incentives to Conserve Wildlife on Private Lands: Analysis and Policy

Some believe that provision of private property rights in wildlife on private land provides a powerful economic incentive for nature conservation because it enables property owners to market such wildlife or its attributes. If such marketing is profitable, private landholders will conserve the wildlife concerned and its required habitat. But land is not always most profitably used for exploitation of wildlife, and many economic values of wildlife (such as non-use economic values) cannot be marketed. The mobility of some wildlife adds to the limitations of the private-property approach. While some species may be conserved by this approach, it is suboptimal as a single policy approach to nature conservation. Nevertheless, it is being experimented with, in the Northern Territory of Australia where landholders had a possibility of harvesting on their properties a quota of eggs and chicks of red-tailed black cockatoos for commercial sale. This scheme was expected to provide an incentive to private landholders to retain hollow trees essential for the nesting of these birds but failed. This case and others are analysed. Despite private-property failures, the long-term survival of some wildlife species depends on their ability to use private lands without severe harassment, either for their migration or to supplement their available resources, for example, the Asian elephant. Nature conservation on private land is often a useful, if not essential, supplement to conservation on public lands. Community and public incentives for such conservation are outlined.

Impact of weather dependency on planning decisions in the australian national electricity market

A long-term planning method for the electricity market is to simulate market operation into the future. Outputs from market simulation include indicators for transmission augmentation and new generation investment. A key input to market simulations is demand forecasts. For market simulation purposes, regional demand forecasts for each half-hour interval of the forecasting horizon are required, and they must accurately represent realistic demand profiles and interregional demand relationships. In this paper, a demand model is developed to accurately model these relationships. The effects of uncertainty in weather patterns and inherent correlations between regional demands on market simulation results are presented. This work signifies the advantages of probabilistic modeling of demand levels when making market-based planning decisions.

Energy derivative market and derivative pricing via simulation

The deregulation of power industry worldwide has delivered the efficiency gains to the society; meanwhile, the intensity of competition has increased uncertainty and risks to market participants. Consequently, market participants are keen to hedge the market risks and maintain a competitive edge in the market; and this is a good explanation to the flourish of electricity derivative market. In this paper, the authors gave a comprehensive review of derivative contract pricing methods and proposed a new framework for energy derivative pricing to suit the needs of a deregulated electricity market

Behavioral Types for Embedded Software - A Survey

At present, there is a variety of formalisms for modeling and analyzing the communication behavior of components. Due to a tremendous increase in size and complexity of embedded systems accompanied by shorter time to market cycles and cost reduction, so called behavioral type systems become more and more important. This chapter presents an overview and a taxonomy of behavioral types. The intentions of this taxonomy are to provide a guidance for software engineers and to form the basis for future research.

Resource entitlements of indigenous minorities, their poverty and conservation of nature: Status of Australian Aborigines, comparisons with India's tribals, theory and changing policies globally

Considers the relevance of A.K. Sen’s theory of entitlements to the situation facing indigenous tribal people, its relationship to institutionalism, and to theories of property rights. Changing world views about the resource entitlements that should be given to local communities are outlined concentrating on the views expressed by the World Conservation Union (IUCN). These changing views have relevance for the resource entitlements of indigenous tribal communities and are reflected in differences in the policy approaches inherent in the Convention on International Trade in Endangered Species (CITES) and the more recent Convention on Biological Diversity. The latter embodies the view that provision of greater resource entitlements to local communities can provide economic incentives for nature conservation. There is a case for Indigenous Australians to be given greater rights to market the natural produce from their lands. Despite progress with land rights, they are not entitled to market much of the natural produce from their land. The socioeconomic status of Australian Aborigines is outlined. Their standard of living and their life expectancy are low by world standards and in comparison to other Australians. This is partly a result of historical events that have restricted their rights. These events are outlined briefly. Views differ about the appropriate development paths for Indigenous Australians and these are assessed. Concern on environmental and economic grounds is expressed about the view that the economic development of Australian Aboriginal communities would be accelerated by replacing their communal land titles by private land titles and encouraging Western-style agriculture and commercial development of their lands. Some comparisons are also made with the situation of India’s Tribals.