Electronic commerce investments, the resource-based view of the firm, and firm market value

Firms have embraced electronic commerce as a means of doing business, either because they see it as a way to improve efficiency, grow market share, expand into new markets, or because they view it as essential for survival. Recent research in the United States provides some evidence that the market does value investments in electronic commerce. Following research that suggests that, in certain circumstances, the market values noninnovative investments as well as innovative investments in new products, we partition electronic commerce investment project announcements into innovative and noninnovative to determine whether there are excess returns associated with these types of announcements. Apart from our overall results being consistent with the United States findings that the market values investments in electronic commerce projects, we also find that noninnovative investments are perceived as more valuable to the firm than innovative investments. On average, the market expects innovative investments to earn a return commensurate with their risk. We conclude that innovative electronic commerce projects are most likely seen by the capital market as easily replicable, and consequently have little, if any, competitive advantage period. On the other hand, we conclude from the noninnovative investment results that these types of investments are seen as being compatible with a firm's assets-in-place, in particular, its information technology capabilities, a view consistent with the resource-based view of the firm.

The global sports-media nexus: Reflections on the 'Super League Saga' in Australia

Despite the social and (increasingly) commercial significance of sport and sporting bodies worldwide, they remain under-represented in the mainstream management literature. One of the more recent and dramatic examples of the global sports-media nexus is the 'Super League saga' in Australia. This paper recounts the tale of the Super League saga, providing a holistic analysis of the events and competitive issues arising by drawing on literatures concerning the economic nature and value of sports leagues, the resource-based view of the firm and the nature of psychological contracts in changing environments. The analysis confirms the general monopolistic tendencies of professional sports leagues in an increasingly global industry driven by the sports-media nexus, in accord with a number of comparable cases internationally. The particular conditions of the Australian marketplace that exacerbate this tendency beyond, for example, that found in the USA, and differences in the outcomes of battles between rival leagues are also considered. The Super League saga portrays the importance of effective management of resources key to the production of the 'rugby league product' including, among others, the often over-looked importance of careful management of local resources for the success of global strategies, and, where human resources are key, the importance of psychological contracting. The holistic analysis of the Super League saga in Australia affords lessons that extend well beyond the realm of sports.

Likelihood-based estimation of the regression model with scrambled responses

A significant problem in the collection of responses to potentially sensitive questions, such as relating to illegal, immoral or embarrassing activities, is non-sampling error due to refusal to respond or false responses. Eichhorn & Hayre (1983) suggested the use of scrambled responses to reduce this form of bias. This paper considers a linear regression model in which the dependent variable is unobserved but for which the sum or product with a scrambling random variable of known distribution, is known. The performance of two likelihood-based estimators is investigated, namely of a Bayesian estimator achieved through a Markov chain Monte Carlo (MCMC) sampling scheme, and a classical maximum-likelihood estimator. These two estimators and an estimator suggested by Singh, Joarder & King (1996) are compared. Monte Carlo results show that the Bayesian estimator outperforms the classical estimators in almost all cases, and the relative performance of the Bayesian estimator improves as the responses become more scrambled.

A population-based study of the biochemical and clinical expression of the H63D hemochromatosis mutation

Background & Aims: Two major mutations are defined within the hemochromatosis gene, HFE. Although the effects of the C282Y mutation have been well characterized, the effects of the H63D mutation remain unclear. We accessed a well-defined population in Busselton, Australia, and determined the frequency of the H63D mutation and its influence on total body iron stores. Methods: Serum transferrin saturation and ferritin levels were correlated with the H63D mutation in 2531 unrelated white subjects who did not possess the C282Y mutation. Results: Sixty-two subjects (2.1%) were homozygous for the H63D mutation, 711 (23.6%) were heterozygous, and 1758 (58.4%) were wild-type for the H63D mutation. Serum transferrin saturation was significantly increased in male and female H63D homozygotes and heterozygotes compared with wild-types. Serum ferritin levels within each gender were not influenced by H63D genotypes. Elevated transferrin saturation greater than or equal to45% was observed in a greater proportion of male H63D carriers than male wild-types. Male H63D homozygotes (9%) and heterozygotes (3%) were more likely to have both elevated transferrin saturation and elevated ferritin greater than or equal to300 ng/mL than male wild-types (0.7%). Homozygosity for H63D was not associated with the development of clinically significant iron overload. Conclusions: Presence of the H63D mutation results in a significant increase in serum transferrin saturation but does hot result in significant iron overload. In the absence of the C282Y mutation, the H63D mutation is not clinically significant.

Competitive advantage in public-sector organizations: explaining the public good/sustainable competitive advantage paradox

Resource-based views of the firm and in particular Kay's (Why Firms Succeed. Oxford: Oxford Univ. Press, 1995) model of sustainable competitive advantage have been used to advance an understanding of differences in the competitive advantage of private-sector firms. We extend the analysis to a public-sector firm where its major purpose includes engaging in public good by giving away its knowledge base and services. The case highlights the paradox that many public-sector organizations face in simultaneously pursuing public good and sustainable competitive advantage. While Kay's model is applicable for understanding intergovernmental agency competition, we find it necessary to incorporate resource dependency theory to address the paradox. Implications for theory and practice are provided. (C) 2002 Elsevier Inc. All rights reseved.

Web services based state of the environment reporting

The Environmental Sciences Division within Queensland Environmental Protection Agency works to monitor, assess and model the condition of the environment. The Division has as a legislative responsibility to produce a whole-of-government report every four years dealing environmental conditions and trends in a ”State of the Environment report” (SoE)[1][2][3]. State of Environment Web Service Reporting System is a supplementary web service based SoE reporting tool, which aims to deliver accurate, timely and accessible information on the condition of the environment through web services via Internet [4][5]. This prototype provides a scientific assessment of environmental conditions for a set of environmental indicators. It contains text descriptions and tables, charts and maps with spatiotemporal dimensions to show the impact of certain environmental indicators on our environment. This prototype is a template based indicator system, to which the administrator may add new sql queries for new indicator services without changing the architecture and codes of this template. The benefits are brought through a service-oriented architecture which provides an online query service with seamless integration. In addition, since it uses web service architecture, each individual component within the application can be implemented by using different programming languages and in different operating systems. Although the services showed in this demo are built upon two datasets of regional ecosystem and protection area of Queensland, it will be possible to report on the condition of water, air, land, coastal zones, energy resources, biodiversity, human settlements and natural culture heritage on the fly as well. Figure 1 shows the architecture of the prototype. In the next section, I will discuss the research tasks in the prototype.

The Hierarchical Structure of the Firm: A Geometric Perspective

This paper incorporates hierarchical structure into the neoclassical theory of the firm. Firms are hierarchical in two respects: the organization of workers in production and the wage structure. The firm’s hierarchy is represented as the sector of a circle, where the radius represents the hierarchy’s height, the width of the sector represents the breadth of the hierarchy at a given height, and the angle of the sector represents span of control for any given supervisor. A perfectly competitive firm then chooses height and width, as well as capital inputs, in order to maximize profit. We analyze the short run and long run impact of changes in scale economies, input substitutability and input and output prices on the firm’s hierarchical structure. We find that the firm unambiguously becomes more hierarchical as the specialization of its workers increases or as its output price increases relative to input prices. The effect of changes in scale economies is contingent on the output price. The model also brings forth an analysis of wage inequality within the firm, which is found to be independent of technological considerations, and only depends on the firm’s wage schedule.

An occupational view of the Australian labour force - Patterns of job growth and decline

Generally employment has been studied in terms of changes in the types of goods and services that the economy is purchasing. Far less attention has been given to the occupational aggregates that go into producing these goods and services. The few studies that did investigate this area found that the mix of tabour inputs appear to have been changing over time in a systematic pattern. The increasing prevalence of white-collar, information workers gave rise to the assertion that many societies had entered a post-industrial information age. Deals first of aff with some issues of measurement in the context of the Australian labour force, then looks at trends in various occupational groups using a non-standard four-sector classification of the labour force. Finally suggests an application in relation to the link between education and training and its ability to reduce structural unemployment.