The finance of biotechnology:investment in new biotechnology firms by British venture capitalists-attitudes to, and evaluation of, business proposals

A notable feature of the recent commercialisation of biotechnology has been the success of 200 or so new firms, established in America since 1976, in exploiting specialised market niches. A key factor in their formation has been the ready availability of venture capital funding. These firms have been instrumental in establishing America's lead in exploiting biotechnology. It is this example which Britain has attempted to emulate as part of its strategy for developing its own biotechnology capabilities. This thesis investigated some aspects of the relationship between biotechnology and venture capital, concentrating on the determinants of the venture capitalist's investment decision. Following an extensive literature survey, two hypothetical business proposals were used to find what venture capitalists themselves consider to be the key elements of this decision. It was found that venture capitalists invest in people, not products, and businesses, not industries. It was concluded that venture capital-backed small firms should, therefore, be seen as an adjunct to the development of biotechnology in Britain, rather than as a substitute for a co-ordinated, co-operative strategy involving Government, the financial institutions, industry and academia. This is chiefly because the small size of the UK's domestic market means that many potentially important innovations in biotechnology may continue to be lost, since the short term identification of market opportunities for biotechnology products will dictate that they are insupportable in Britain alone. In addition, the data analysis highlighted some interesting methodological issues concerning the investigation of investment decision making. These related especially to shortcomings in the use of scoresheets and questionnaires in research in this area. The conclusion here was that future research should concentrate on the reasons why an individual reaches an investment decision. It is argued that only in this way can the nature of the evaluation procedures employed by venture capitalists be properly understood.

Science or practice? UK undergraduate experiences and attitudes to the MPharm degree

Objective: The debate surrounding the science/practice balance in the teaching of undergraduate pharmacy has been played out in the professional literature for years. The objective of this work was to explore the attitudes of pharmacy undergraduates on the practice-science debate. Setting: The study was undertaken as part of a national study of teaching, learning and assessment methods in United Kingdom (UK) schools of pharmacy. Method: Six focus groups were carried out. The sample was 44 volunteer students from nine UK schools of pharmacy, representing all 4 years of the MPharm programme. Groups were tape recorded and transcribed. Analysis of the transcripts was theme based by topic. Main Outcome Measure: Qualitative data on student attitudes and experiences. Results: Most students thought that there was too strong an emphasis placed on the science components of the course in the early part of their studies. Later in the course they realised that the majority of the science was necessary; it just had not been apparent to them at the time. There were strongly held attitudes across all 4 years that it would be beneficial to include more practice-related material at the beginning of their studies. This would be beneficial for three reasons: to make the course more interesting, to aid in the contextualisation of the science component and to assist the students in any early placement or vacational work. Conclusion: Internationally, changes to the role of the pharmacist from a traditional supply function to a more clinical role has resulted in differing educational needs for the pharmacist of the future. Pharmacy will remain a degree built on a strong scientific background, but students advise that the contextualisation and sequencing of material within the degree could make a considerable improvement to their learning. Consulting students helps us to understand the teaching, learning and assessment experience better by giving insights into ways of improving the delivery. In the case of the UK, there are legislative changes impending which may provide an opportunity to review the balance of practice-and science in the curriculum. © 2006 Springer Science+Business Media B.V.

Attitudes to children's pain:exploding the 'pain myth'

Previous research has identified healthcare professionals' belief in myths about children's experience of pain as a cause of inadequate pain treatment. In this study, 47 doctors and 36 nurses involved in paediatric care completed a detailed questionnaire on 'pain myths'. The findings indicate a more informed awareness among healthcare professionals regarding childhood pain than previously suggested and that unconditional belief in 'pain myths' is not widespread.

Intolerance of ambiguity, gender stereotypes, and attitudes to sexuality

The premise of this thesis is that Western thought is characterised by the need to enforce binary classification in order to structure the world. Classifications of sexuality and gender both embody this tendency, which has been largely influenced by Judeo-Christian tradition. Thus, it is argued that attitudes to sexuality, particularly homosexuality are, in part, a function of the way in which we seek to impose structure on the world. From this view, it is (partly) the ambiguity, inherent in gender and sexual variation, which evokes negative responses. The thesis presents a series of inter-linked studies examining attitudes to various aspects of human sexuality, including the human body, non-procreative sex acts (anal an oral sex) and patterns of sexuality that depart from the hetero-homo dichotomy. The findings support the view that attitudes to sexuality are significantly informed by gender-role stereotypes, with negative attitudes linked to intolerance of ambiguity. Male participants show large differences in their evaluations of male and female bodies, and of male and female sexual actors, than do female participants. Male participants also show a greater negativity to gay male sexual activity than do female participants, but males perceive lesbian sexuality similarly to heterosexuality. Male bodies are rated as being less 'permeable' than female bodies and male actors are more frequently identified as being the instigators of sexual acts. Crucial to the concept of heterosexism is the assumption that 'femininity' is considered inherently inferior to 'masculinity'. Hence, the findings provide an empirical basis for making connections between heterosexism and sexism, and therefore between the psychology of women, and gay and lesbian psychology.

Teacher participation in school management : an analysis of some major issues, background factors, and the use of an attitude scale to study and compare teacher attitudes to participation

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Survey of habits and attitudes to retinoscopy by optometrists in the UK

This research suggests that although retinoscopy is considered to be an important part of the eye examination by the majority, it is being carried out less by optometrists working in multiple practices. This less frequent use of retinoscopy may be due to the greater use of non-optometric staff in prescreening and that the more 'difficult' patients (young children or adults with poor communication) may be more likely to attend independent practices or an eye clinic.

Corporate social responsibility and organizational commitment:the moderating role of individuals’ attitudes to CSR

Corporate Social Responsibility (CSR) becomes ever more important for organizations. In times of corporate scandals and more governmental regulation on the one hand and a foreseeable shortage of highly qualified employees on the other, CSR is both a means to serve the wider society and to attract employees with a positive reputation and image. The aim of the present study was to determine whether CSR activities as perceived by employees indeed lead to more employee affective commitment and whether this would be moderated by employee differences in importance of CSR. The study differentiated two forms of CSR, namely corporate social responsibility directed towards individual employees (CSR-E) and directed towards the wider society (CSR-S). We surveyed 89 employees and found evidence for the predicted moderation and for both forms of CSR such that CSR-E and CSR-S and affective commitment were only positively related for those employees who evaluated CSR as important. Implications for recruitment and future research are discussed.

Patient experiences of serious adverse drug reactions and their attitudes to medicines:a qualitative study of survivors of Stevens-Johnson syndrome and toxic epidermal necrolysis in the UK

Background: Adverse drug reactions (ADRs) cause significant morbidity and mortality and account for around 6.5% of hospital admissions. Patient experiences of serious ADRs and their long-term impact on patients' lives, including their influence on current attitudes towards medicines, have not been previously explored. Objective: The aim of the study was to explore the experiences, beliefs, and attitudes of survivors of serious ADRs, using drug-induced Stevens-Johnson syndrome (SJS) and Toxic Epidermal Necrolysis (TEN) as a paradigm. Methods: A retrospective, qualitative study was undertaken using detailed semi-structured interviews. Fourteen adult survivors of SJS and TEN, admitted to two teaching hospitals in the UK, one the location of a tertiary burns centre, were interviewed. Interview transcripts were independently analysed by three different researchers and themes emerging from the text identified. Results: All 14 patients were aware that their condition was drug induced, and all but one knew the specific drug(s) implicated. Several expressed surprise at the perceived lack of awareness of the ADR amongst healthcare professionals, and described how the ADR was mistaken for another condition. Survivors believed that causes of the ADR included (i) being given too high a dose of the drug; (ii) medical staff ignoring existing allergies; and (iii) failure to monitor blood tests. Only two believed that the reaction was unavoidable. Those who believed that the condition could have been avoided had less trust in healthcare professionals. The ADR had a persisting impact on their current lives physically and psychologically. Many now avoided medicines altogether and were fearful of becoming ill enough to need them. © 2011 Adis Data Information BV. All rights reserved. Conclusions: Life-threatening ADRs continued to affect patients’ lives long after the event. Patients’ beliefs regarding the cause of the ADR differed, and may have influenced their trust in healthcare professionals and medicines. We propose that clear communication during the acute phase of a serious ADR may therefore be important.

Attitudes to language in literary sources:beyond post-colonialism in nigerian literature

All societies display attitudes to (varieties of) languages that tell us about the relative status of the groups that are associated to them. One method to document these is the systematic study of public discourses, including literary production. How (varieties of) languages are used, mentioned and characterised in a literary work tells us about their social status, and any change in this status should therefore be followed by changes in judgements on languages. This is demonstrated by the present paper with reference to the language attitudes in Nigeria, on the basis of two iconic Nigerian novels 2004 Purple Hibiscus and in 1958 classic postcolonial Things Fall Apart, separated by nearly fifty years. Ibo as well as Pidgin, Nigerian and European Englishes are presented in Purple Hibiscus in nuanced complementary configurations. A strong axiological polarisation is by contrast offered in Things Fall Apart between Ibo speakers and Ibo interpreters who are presented as cruel and ridiculous traitors siding with the English colonising power whose language, curiously, is not commented upon. Showing how a replicable method applied to language judgements can document social organisation and change, these results validate the view that the Nigerian society and culture has moved beyond the historically situated postcolonialist movement to embrace a globalised paradigm. © 2010 Taylor & Francis.

Conceptualizing leadership perceptions as attitudes:using attitude theory to further the understanding of the relation between leadership and outcomes

Leadership is one of the most examined factors in relation to understanding employee wellbeing and performance. While there are disparate approaches to studying leadership, they share a common assumption that perceptions of a leader's behavior determine reactions to the leader. The concept of leadership perception is poorly understood in most theoretical approaches. To address this, we propose that there are many benefits from examining leadership perceptions as an attitude towards the leader. In this review, we show how research examining a number of aspects of attitudes (content, structure and function) can advance understanding of leadership perceptions and how these affect work-related outcomes. Such a perspective provides a more multi-faceted understanding of leadership perceptions than previously envisaged and this can provide a more detailed understanding of how such perceptions affect outcomes. In addition, we examine some of the main theoretical and methodological implications of viewing leadership perceptions as attitudes to the wider leadership area. The cross-fertilization of research from the attitudes literature to understanding leadership perceptions provides new insights into leadership processes and potential avenues for further research. (C) 2015 Elsevier Inc. All rights reserved

Foreign direct investment, access to finance, and innovation activity in Chinese enterprises

A recent, comprehensive database is used to investigate the link between inward foreign direct investment (FDI) and innovation activity in China. The results of the analysis suggest that private and collectively owned firms with foreign capital participation and those with good access to domestic bank loans innovate more than other firms do. Among enterprises not owned by the state, inward FDI at the sectoral level is positively associated with domestic innovative activity only among firms that engage in their own research and development or that have good access to domestic finance. At the sector level the effect of inward FDI into technology transfer is distinguished from the effect on domestic credit opportunities. FDI affecting credit is of little significance for state-owned enterprises and is independent of their access to finance. In contrast, better access to credit is an important channel through which FDI affects the innovation of domestic private and collectively owned enterprises.

eHealth as a challenge to `expert' power: a focus group study of internet use for health information and management

Objective To investigate current use of the internet and eHealth amongst adults. Design Focus groups were conducted to explore participants' attitudes to and reasons for health internet use. Main outcome measures The focus group data were analysed and interpreted using thematic analysis. Results Three superordinate themes exploring eHealth behaviours were identified: decline in expert authority, pervasiveness of health information on the internet and empowerment. Results showed participants enjoyed the immediate benefits of eHealth information and felt empowered by increased knowledge, but they would be reluctant to lose face-to-face consultations with their GP. Conclusions Our findings illustrate changes in patient identity and a decline in expert authority with ramifications for the practitioner–patient relationship and subsequent implications for health management more generally.

Transglutaminase treatment of wool fabrics leads to resistance to detergent damage

Biological detergents are now routinely used in domestic laundry because the enzymes they contain provide the added benefit of low temperature washes with improved cleaning performance. One of the key enzymes found in these detergents are proteases, which if exposed to natural protein fibres such as wool or silk can cause irreversible damage, leading to loss of fabric strength, shape and poor colour fastness. Transglutaminases (TGases) are protein cross-linking enzymes capable of adding tensile strength to wool proteins, and as a consequence are capable of remediating the damage caused by previous chemical treatments, and more importantly, by proteases. In this paper we treated dyed wool fabric with TGase and then washed the fabric with biological and non-biological detergents to investigate whether TGases would protect wool garments from damage by the undue use of biological detergents in domestic laundry. We demonstrate using different cycles of detergent washes containing biological and non-biological detergents and different TGase treatments, that wool fabric treated previously with TGase release less dye into the washing liquor and in addition maintain fabric strength at levels greater than the washed controls. As a consequence, wool garments previously treated with TGase are likely to have increased resistance to domestic washing and thus provide increased longevity. © 2005 Elsevier B.V. All rights reserved.

Ownership characteristics and access to finance:evidence from a survey of large privatised companies in Hungary and Poland

We examine financial constraints and forms of finance used for investment, by analysing survey data on 157 large privatised companies in Hungary and Poland for the period 1998 - 2000. The Bayesian analysis using Gibbs sampling is carried out to obtain inferences about the sample companies' access to finance from a model for categorical outcome. By applying alternative measures of financial constraints we find that foreign companies, companies that are part of domestic industrial groups and enterprises with concentrated ownership are all less constrained in their access to finance. Moreover, we identify alternative modes of finance since different corporate control and past performance characteristics influence the sample firms' choice of finance source. In particular, while being industry-specific, the access to domestic credit is positively associated with company size and past profitability. Industrial group members tend to favour bond issues as well as sells-offs of assets as appropriate types of finance for their investment programmes. Preferences for raising finance in the form of equity are associated with share concentration in a non-monotonic way, being most prevalent in those companies where the dominant owner holds 25%-49% of shares. Close links with a leading bank not only increase the possibility of bond issues but also appear to facilitate access to non-banking sources of funds, in particular, to finance supplied by industrial partners. Finally, reliance on state finance is less likely for the companies whose profiles resemble the case of unconstrained finance, namely, for companies with foreign partners, companies that are part of domestic industrial groups and companies with a strategic investor. Model implications also include that the use of state funds is less likely for Polish than for Hungarian companies.