Linking entrepreneural orientation to export performance: the role of intangible resources and dynamic capabilities

Understanding the determinants of international performance, and in particular, export performance is key for the success of international companies. Research in this area focuses mainly on how resources and capabilities allow companies to gain competitive advantage and superior performance in external markets. Building on the Resource-Based View (RBV) and the Dynamic Capabilities Approach (DCA), this study aims at analysing the effect of intangible resources and capabilities on export performance. Specifically, this study focuses on the proposition that entrepreneurial orientation potentiates the attraction of intangible resources, namely relational and informational resources. Moreover, we propose that these resources impact export performance both directly and indirectly through dynamic capabilities.

Evaluation of dynamic pass-through of carbon prices into electricity prices – a cointegrated VECM analysis

This paper addresses the impact of the CO2 opportunity cost on the wholesale electricity price in the context of the Iberian electricity market (MIBEL), namely on the Portuguese system, for the period corresponding to the Phase II of the European Union Emission Trading Scheme (EU ETS). In the econometric analysis a vector error correction model (VECM) is specified to estimate both long–run equilibrium relations and short–run interactions between the electricity price and the fuel (natural gas and coal) and carbon prices. The model is estimated using daily spot market prices and the four commodities prices are jointly modelled as endogenous variables. Moreover, a set of exogenous variables is incorporated in order to account for the electricity demand conditions (temperature) and the electricity generation mix (quantity of electricity traded according the technology used). The outcomes for the Portuguese electricity system suggest that the dynamic pass–through of carbon prices into electricity prices is strongly significant and a long–run elasticity was estimated (equilibrium relation) that is aligned with studies that have been conducted for other markets.

Dynamic QoS-Aware coalition formation

Users of wireless devices increasingly demand access to multimedia content with speci c quality of service requirements. Users might tolerate di erent levels of service, or could be satis ed with di erent quality combinations choices. However, multimedia processing introduces heavy resource requirements on the client side. Our work tries to address the growing demand on resources and performance requirements, by allowing wireless nodes to cooperate with each other to meet resource allocation requests and handle stringent constraints, opportunistically taking advantage of the local ad-hoc network that is created spontaneously, as nodes move in range of each other, forming a temporary coalition for service execution. Coalition formation is necessary when a single node cannot execute a speci c service, but it may also be bene cial when groups perform more e ciently when compared to a single s node performance.

Dynamic global scheduling of parallel real-time tasks

High-level parallel languages offer a simple way for application programmers to specify parallelism in a form that easily scales with problem size, leaving the scheduling of the tasks onto processors to be performed at runtime. Therefore, if the underlying system cannot efficiently execute those applications on the available cores, the benefits will be lost. In this paper, we consider how to schedule highly heterogenous parallel applications that require real-time performance guarantees on multicore processors. The paper proposes a novel scheduling approach that combines the global Earliest Deadline First (EDF) scheduler with a priority-aware work-stealing load balancing scheme, which enables parallel realtime tasks to be executed on more than one processor at a given time instant. Experimental results demonstrate the better scalability and lower scheduling overhead of the proposed approach comparatively to an existing real-time deadline-oriented scheduling class for the Linux kernel.

Dynamic analysis of earthquake phenomena by means of pseudo phase plane

This paper analyses earthquake data in the perspective of dynamical systems and its Pseudo Phase Plane representation. The seismic data is collected from the Bulletin of the International Seismological Centre. The geological events are characterised by their magnitude and geographical location and described by means of time series of sequences of Dirac impulses. Fifty groups of data series are considered, according to the Flinn-Engdahl seismic regions of Earth. For each region, Pearson’s correlation coefficient is used to find the optimal time delay for reconstructing the Pseudo Phase Plane. The Pseudo Phase Plane plots are then analysed and characterised.

A fuzzified systematic adjustment of the robotic Darwinian PSO

The Darwinian Particle Swarm Optimization (DPSO) is an evolutionary algorithm that extends the Particle Swarm Optimization using natural selection to enhance the ability to escape from sub-optimal solutions. An extension of the DPSO to multi-robot applications has been recently proposed and denoted as Robotic Darwinian PSO (RDPSO), benefiting from the dynamical partitioning of the whole population of robots, hence decreasing the amount of required information exchange among robots. This paper further extends the previously proposed algorithm adapting the behavior of robots based on a set of context-based evaluation metrics. Those metrics are then used as inputs of a fuzzy system so as to systematically adjust the RDPSO parameters (i.e., outputs of the fuzzy system), thus improving its convergence rate, susceptibility to obstacles and communication constraints. The adapted RDPSO is evaluated in groups of physical robots, being further explored using larger populations of simulated mobile robots within a larger scenario.

Enhanced Race-to-halt: a leakage-aware energy management approach for dynamic priority systems

With progressing CMOS technology miniaturization, the leakage power consumption starts to dominate the dynamic power consumption. The recent technology trends have equipped the modern embedded processors with the several sleep states and reduced their overhead (energy/time) of the sleep transition. The dynamic voltage frequency scaling (DVFS) potential to save energy is diminishing due to efficient (low overhead) sleep states and increased static (leakage) power consumption. The state-of-the-art research on static power reduction at system level is based on assumptions that cannot easily be integrated into practical systems. We propose a novel enhanced race-to-halt approach (ERTH) to reduce the overall system energy consumption. The exhaustive simulations demonstrate the effectiveness of our approach showing an improvement of up to 8 % over an existing work.

Towards a flexible and dynamic replication control for distributed real-time embedded systems with QoS interdependencies

Replication is a proven concept for increasing the availability of distributed systems. However, actively replicating every software component in distributed embedded systems may not be a feasible approach. Not only the available resources are often limited, but also the imposed overhead could significantly degrade the system's performance. The paper proposes heuristics to dynamically determine which components to replicate based on their significance to the system as a whole, its consequent number of passive replicas, and where to place those replicas in the network. The results show that the proposed heuristics achieve a reasonably higher system's availability than static offline decisions when lower replication ratios are imposed due to resource or cost limitations. The paper introduces a novel approach to coordinate the activation of passive replicas in interdependent distributed environments. The proposed distributed coordination model reduces the complexity of the needed interactions among nodes and is faster to converge to a globally acceptable solution than a traditional centralised approach.

Memória de longo prazo nos retornos acionistas dos índices de referência da euronext, implicações para a hipótese de mercados eficientes e contributo fractal para aperfeiçoamento do capital asset pricing model

Não existe uma definição única de processo de memória de longo prazo. Esse processo é geralmente definido como uma série que possui um correlograma decaindo lentamente ou um espectro infinito de frequência zero. Também se refere que uma série com tal propriedade é caracterizada pela dependência a longo prazo e por não periódicos ciclos longos, ou que essa característica descreve a estrutura de correlação de uma série de longos desfasamentos ou que é convencionalmente expressa em termos do declínio da lei-potência da função auto-covariância. O interesse crescente da investigação internacional no aprofundamento do tema é justificado pela procura de um melhor entendimento da natureza dinâmica das séries temporais dos preços dos ativos financeiros. Em primeiro lugar, a falta de consistência entre os resultados reclama novos estudos e a utilização de várias metodologias complementares. Em segundo lugar, a confirmação de processos de memória longa tem implicações relevantes ao nível da (1) modelação teórica e econométrica (i.e., dos modelos martingale de preços e das regras técnicas de negociação), (2) dos testes estatísticos aos modelos de equilíbrio e avaliação, (3) das decisões ótimas de consumo / poupança e de portefólio e (4) da medição de eficiência e racionalidade. Em terceiro lugar, ainda permanecem questões científicas empíricas sobre a identificação do modelo geral teórico de mercado mais adequado para modelar a difusão das séries. Em quarto lugar, aos reguladores e gestores de risco importa saber se existem mercados persistentes e, por isso, ineficientes, que, portanto, possam produzir retornos anormais. O objetivo do trabalho de investigação da dissertação é duplo. Por um lado, pretende proporcionar conhecimento adicional para o debate da memória de longo prazo, debruçando-se sobre o comportamento das séries diárias de retornos dos principais índices acionistas da EURONEXT. Por outro lado, pretende contribuir para o aperfeiçoamento do capital asset pricing model CAPM, considerando uma medida de risco alternativa capaz de ultrapassar os constrangimentos da hipótese de mercado eficiente EMH na presença de séries financeiras com processos sem incrementos independentes e identicamente distribuídos (i.i.d.). O estudo empírico indica a possibilidade de utilização alternativa das obrigações do tesouro (OT’s) com maturidade de longo prazo no cálculo dos retornos do mercado, dado que o seu comportamento nos mercados de dívida soberana reflete a confiança dos investidores nas condições financeiras dos Estados e mede a forma como avaliam as respetiva economias com base no desempenho da generalidade dos seus ativos. Embora o modelo de difusão de preços definido pelo movimento Browniano geométrico gBm alegue proporcionar um bom ajustamento das séries temporais financeiras, os seus pressupostos de normalidade, estacionariedade e independência das inovações residuais são adulterados pelos dados empíricos analisados. Por isso, na procura de evidências sobre a propriedade de memória longa nos mercados recorre-se à rescaled-range analysis R/S e à detrended fluctuation analysis DFA, sob abordagem do movimento Browniano fracionário fBm, para estimar o expoente Hurst H em relação às séries de dados completas e para calcular o expoente Hurst “local” H t em janelas móveis. Complementarmente, são realizados testes estatísticos de hipóteses através do rescaled-range tests R/S , do modified rescaled-range test M - R/S e do fractional differencing test GPH. Em termos de uma conclusão única a partir de todos os métodos sobre a natureza da dependência para o mercado acionista em geral, os resultados empíricos são inconclusivos. Isso quer dizer que o grau de memória de longo prazo e, assim, qualquer classificação, depende de cada mercado particular. No entanto, os resultados gerais maioritariamente positivos suportam a presença de memória longa, sob a forma de persistência, nos retornos acionistas da Bélgica, Holanda e Portugal. Isto sugere que estes mercados estão mais sujeitos a maior previsibilidade (“efeito José”), mas também a tendências que podem ser inesperadamente interrompidas por descontinuidades (“efeito Noé”), e, por isso, tendem a ser mais arriscados para negociar. Apesar da evidência de dinâmica fractal ter suporte estatístico fraco, em sintonia com a maior parte dos estudos internacionais, refuta a hipótese de passeio aleatório com incrementos i.i.d., que é a base da EMH na sua forma fraca. Atendendo a isso, propõem-se contributos para aperfeiçoamento do CAPM, através da proposta de uma nova fractal capital market line FCML e de uma nova fractal security market line FSML. A nova proposta sugere que o elemento de risco (para o mercado e para um ativo) seja dado pelo expoente H de Hurst para desfasamentos de longo prazo dos retornos acionistas. O expoente H mede o grau de memória de longo prazo nos índices acionistas, quer quando as séries de retornos seguem um processo i.i.d. não correlacionado, descrito pelo gBm(em que H = 0,5 , confirmando- se a EMH e adequando-se o CAPM), quer quando seguem um processo com dependência estatística, descrito pelo fBm(em que H é diferente de 0,5, rejeitando-se a EMH e desadequando-se o CAPM). A vantagem da FCML e da FSML é que a medida de memória de longo prazo, definida por H, é a referência adequada para traduzir o risco em modelos que possam ser aplicados a séries de dados que sigam processos i.i.d. e processos com dependência não linear. Então, estas formulações contemplam a EMH como um caso particular possível.

Flexible and dynamic replication control for interdependent distributed real-time embedded systems

Replication is a proven concept for increasing the availability of distributed systems. However, actively replicating every software component in distributed embedded systems may not be a feasible approach. Not only the available resources are often limited, but also the imposed overhead could significantly degrade the system’s performance. This paper proposes heuristics to dynamically determine which components to replicate based on their significance to the system as a whole, its consequent number of passive replicas, and where to place those replicas in the network. The activation of passive replicas is coordinated through a fast convergence protocol that reduces the complexity of the needed interactions among nodes until a new collective global service solution is determined.

Optimising and adapting the QoS of a dynamic set of inter-dependent tasks

Due to the growing complexity and adaptability requirements of real-time systems, which often exhibit unrestricted Quality of Service (QoS) inter-dependencies among supported services and user-imposed quality constraints, it is increasingly difficult to optimise the level of service of a dynamic task set within an useful and bounded time. This is even more difficult when intending to benefit from the full potential of an open distributed cooperating environment, where service characteristics are not known beforehand and tasks may be inter-dependent. This paper focuses on optimising a dynamic local set of inter-dependent tasks that can be executed at varying levels of QoS to achieve an efficient resource usage that is constantly adapted to the specific constraints of devices and users, nature of executing tasks and dynamically changing system conditions. Extensive simulations demonstrate that the proposed anytime algorithms are able to quickly find a good initial solution and effectively optimise the rate at which the quality of the current solution improves as the algorithms are given more time to run, with a minimum overhead when compared against their traditional versions.

Capacity sharing and stealing in dynamic server-based real-time systems

This paper proposes a dynamic scheduler that supports the coexistence of guaranteed and non-guaranteed bandwidth servers to efficiently handle soft-tasks’ overloads by making additional capacity available from two sources: (i) residual capacity allocated but unused when jobs complete in less than their budgeted execution time; (ii) stealing capacity from inactive non-isolated servers used to schedule best-effort jobs. The effectiveness of the proposed approach in reducing the mean tardiness of periodic jobs is demonstrated through extensive simulations. The achieved results become even more significant when tasks’ computation times have a large variance.

Real-time tracking and reporting of dynamic events in hierarchical wireless sensor networks

Wireless Sensor Networks (WSNs) are highly distributed systems in which resource allocation (bandwidth, memory) must be performed efficiently to provide a minimum acceptable Quality of Service (QoS) to the regions where critical events occur. In fact, if resources are statically assigned independently from the location and instant of the events, these resources will definitely be misused. In other words, it is more efficient to dynamically grant more resources to sensor nodes affected by critical events, thus providing better network resource management and reducing endto- end delays of event notification and tracking. In this paper, we discuss the use of a WSN management architecture based on the active network management paradigm to provide the real-time tracking and reporting of dynamic events while ensuring efficient resource utilization. The active network management paradigm allows packets to transport not only data, but also program scripts that will be executed in the nodes to dynamically modify the operation of the network. This presumes the use of a runtime execution environment (middleware) in each node to interpret the script. We consider hierarchical (e.g. cluster-tree, two-tiered architecture) WSN topologies since they have been used to improve the timing performance of WSNs as they support deterministic medium access control protocols.

Dynamic QoS adaptation of inter- dependent task sets in cooperative embedded systems

Due to the growing complexity and dynamism of many embedded application domains (including consumer electronics, robotics, automotive and telecommunications), it is increasingly difficult to react to load variations and adapt the system's performance in a controlled fashion within an useful and bounded time. This is particularly noticeable when intending to benefit from the full potential of an open distributed cooperating environment, where service characteristics are not known beforehand and tasks may exhibit unrestricted QoS inter-dependencies. This paper proposes a novel anytime adaptive QoS control policy in which the online search for the best set of QoS levels is combined with each user's personal preferences on their services' adaptation behaviour. Extensive simulations demonstrate that the proposed anytime algorithms are able to quickly find a good initial solution and effectively optimise the rate at which the quality of the current solution improves as the algorithms are given more time to run, with a minimum overhead when compared against their traditional versions.

Dynamic adaptation of stability periods for service level agreements

A QoS adaptation to dynamically changing system conditions that takes into consideration the user’s constraints on the stability of service provisioning is presented. The goal is to allow the system to make QoS adaptation decisions in response to fluctuations in task traffic flow, under the control of the user. We pay special attention to the case where monitoring the stability period and resource load variation of Service Level Agreements for different types of services is used to dynamically adapt future stability periods, according to a feedback control scheme. System’s adaptation behaviour can be configured according to a desired confidence level on future resource usage. The viability of the proposed approach is validated by preliminary experiments.