Institutional environment, innovative entrepreneurial entry and venture capital financing

We analyse the determinants of high growth expectations entrepreneurial entry (HGE) using individual data drawn on working age population, based on the Global Entrepreneurship Monitor (GEM) surveys for the 1998-2004 period. Individual level explanatory variables are combined with country-level factors. Our results suggest that availability of venture capital and intellectual proper rights protection are strong predictors of HGE. In addition, we also find that innovative start-ups are associated with highest growth expectations in countries with extensive supply of venture capital and strongest intellectual property rights. Once we introduce venture capital, we detect no significant effects of other elements of financial systems on high-powered entry.

An interpretive approach to analysing the role and value of information systems in Jordanian financial organisations

Analysing investments in ISs in order to maximise benefits has become a prime concern, especially for private corporations. No formula of equilibrium exists that could link the injected amounts and accrued returns. The relationship is simply not straightforward. This thesis is based upon empirical work which involved sketching organisational ethnographies (four organographies and a sectography) into the role and value of information systems in Jordanian financial organisations. Besides deciphering the map of impacts, it explains the attributions of the variations in the impacts of ISs which were found to be related to the internal organisational processes: culturally and politically specific considerations, economically or technically rooted factors and environmental factors. The research serves as an empirical attempt to test out the applicability of adopting the interpretive paradigm to researching organisations in a developing country. The fieldwork comprised an exploratory stage, a detailed investigation of four case studies and a survey stage encompassing 16 organisations. Primary and secondary data were collected from multiple sources using a range of instruments. The evidence highlights the fact that little long term strategic planning was pursued; the emphasis was more focused on short term planning. There was no noticeable adoption of any strategic fit principle linking IS strategy to the corporate strategy. In addition, the benefits obtained were mostly intangible. Although ISs were central to the work of the organisations surveyed as the core technology, they were considered as tools or work enablers rather than weapons for competitive rivalry. The cultural specificity of IS impacts was evident and the cultural and political considerations were key factors in explaining the attributions of the variations in the impacts of ISs in JFOs. The thesis confirms that measuring the benefits of ISs is the problematic. However, in order to gain more insight, the phenomenon of "the use of ISs" has to be studied within its context.

Process improvement and quality management systems in the financial services industry:the case for the OPEX quality management system and framework

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Expert systems for vendor selection

The survival of organisations, especially SMEs, depends, to the greatest extent, on those who supply them with the required material input. This is because if the supplier fails to deliver the right materials at the right time and place, and at the right price, then the recipient organisation is bound to fail in its obligations to satisfy the needs of its customers, and to stay in business. Hence, the task of choosing a supplier(s) from a list of vendors, that an organisation will trust with its very existence, is not an easy one. This project investigated how purchasing personnel in organisations solve the problem of vendor selection. The investigation went further to ascertain whether an Expert Systems model could be developed and used as a plausible solution to the problem. An extensive literature review indicated that very scanty research has been conducted in the area of Expert Systems for Vendor Selection, whereas many research theories in expert systems and in purchasing and supply management chain, respectively, had been reported. A survey questionnaire was designed and circulated to people in the industries who actually perform the vendor selection tasks. Analysis of the collected data confirmed the various factors which are considered during the selection process, and established the order in which those factors are ranked. Five of the factors, namely, Production Methods Used, Vendors Financial Background, Manufacturing Capacity, Size of Vendor Organisations, and Suppliers Position in the Industry; appeared to have similar patterns in the way organisations ranked them. These patterns suggested that the bigger the organisation, the more importantly they regarded the above factors. Further investigations revealed that respondents agreed that the most important factors were: Product Quality, Product Price and Delivery Date. The most apparent pattern was observed for the Vendors Financial Background. This generated curiosity which led to the design and development of a prototype expert system for assessing the financial profile of a potential supplier(s). This prototype was called ESfNS. It determines whether a prospective supplier(s) has good financial background or not. ESNS was tested by the potential users who then confirmed that expert systems have great prospects and commercial viability in the domain for solving vendor selection problems.

Business information systems:technology, development and management for the e-business with Webct pin card

This is an online course pack consisting of Chaffey: Business Information Systems ISBN: 027365540X and access to a Pearson Education online course ISBN: 0273673491

From national innovation systems to national innovation capacity:internationalisation and technology transfer perspectives

The last decade or so has witnessed the emergence of the national innovation system (NIS) phenomenon. Since then, many scholars have investigated NIS and its implementation in different countries. However, there are very few investigations into the relationship between the NIS of a country and its national innovation capacity. This paper aims to make a contribution in this area by examining the link that currently exists between these two topics. Whilst examining this relationship, we also explore internationalisation and technology transfer, being cognate areas that have been investigated during the same period. This follows our assertion that the link between NIS and national innovation capacity is the mechanism of internationalisation and technology transfer. The NIS approach was introduced in the late 1980s (see Freeman, 1987; Dosi et al., 1988) and further elaborated later (see Lundvall, 1992; Nelson, 1993; Edquist, 1997). In essence, a country?s NIS is a historically grown subsystem of the entire national economy consisting of organisations and institutions which play a major role in the innovative activity in the country. In the NIS approach, interactions within organisations as well as the interplay between organisations and institutions are of central importance. The NIS approach has been used to reveal the structure of the innovation processes and the main actors involved in them in industrialised and emerging countries. Although the national focus remains strong, it has been accompanied by studies seeking to analyse the notion of systems of innovation at an international level and at a sub-national scale (Archibugi et al., 1999). Dosi in the edition of Archibugi et al. (1999) argues that the general background of the discussion of national systems is the observation of non-random distributions across countries of: corporate capabilities; organisational forms; strategies; and ultimately revealed performances, in terms of production efficiency and inputs productivities, rates of innovation, rates of adoption/diffusion of innovation themselves, dynamics of market shares on the world markets, growth of income and employment. They also mention that there are several approaches to NIS. Nelson (1993) focuses upon the specificities of national institutions and policies supporting directly or indirectly innovation, diffusion and skills accumulation. Patel and Pavitt (1991) have stressed the links between the national patterns of technological accumulation and the competencies and innovative strategies of a few major national companies. Amable et al (1997) and Soskice (1993) and Zysman (1994) focus on the specifics of national institutions including, for example, the forms of organization, financial and labour markets, training institutions, forms of state intervention in the economy etc. However, the most common reference is by Lundvall (1992) who argues that the focus on the national level is associated with the fact that national economies vary according to their production system and their institutional framework and these differences are in turn strengthened by different historical experiences, language and culture. On the other hand, the national innovation capability consists of abilities to create and carry new technological possibilities through to economic practice. The term covers a wide range of activities from capability to invent to capability to innovate and to capability to improve existing technology beyond the original design parameters (Kim, 1997). The term innovation is often associated by many with technological change at international frontiers. However, technological capability is not the same as innovation capability. Technological capability refers to assimilation, use, adaptation, and change to existing technologies. It also enables the creation of new technologies and development of new products and processes in response to changing economic environments. It denotes operational command over knowledge (Kim, 1997). It is manifested not merely by the knowledge possessed, but, more important, by the uses to which that knowledge can be put and by the proficiency with which it is applied in the activities of investment and production and in the creation of new knowledge (Westphal et al., 1985). Therefore, the analytical framework that is used in this paper is based on the way a country derives from its NIS a national innovation capacity. There are two perspectives that are identified on this way. These are internationalisation and technology transfer. Even though NIS is not directly related to national innovation capacity, to achieve national innovation capacity from NIS, the country should have the ability for technology transfer. Technology transfer is a link between these two phenomena. On the other hand, internationalisation can be either the input or the output of the relationship between NIS and national innovation capability. If a company is investing in a country because of its national innovation capacity, this can be regarded as an input to the relationship between NIS and national innovation capacity. If this company is investigating the national innovation capacity of a country then, for its internationalisation, the national innovation capacity should be important, which in turn means this company is active in innovation and innovation is also an important success factor. The interrelationship between the investment of the company and the NIS of the country (assuming that the country is competent and competitive in technology transfer) will generate and improve that country?s national innovation capacity. This is the output of internationalisation from the relationship between NIS and national innovation capacity. When companies are evaluating whether to internationalise, they investigate certain factors in the countries in which they are considering to invest. The ability to transfer technology is dependent on ability to adopt a new technology and also on the learning derived from this technology. If countries wish to attract innovation related investment they need to show their ability to have a NIS and also the capability to transfer technology. Without the technology transfer capability, the NIS is not functioning. Therefore, companies that internationalise will investigate the factors common to NIS, technology transfer, and their business needs. Through this paper we will demonstrate this link though its mechanisms. Our research will be through extensive literature review and identifying relevant aspects of previous research carried out by the authors. It will investigate certain factors of different countries that are successful in attracting innovation related foreign direct investment. Through these, we will point out the factors that are important for the link and mechanisms of NIS and national innovation capability.

Business information systems:technology, development and management in the E-business

Information technology is at the centre of today’s business environment. The increasing importance of e-commerce and the integration of information systems in all areas of a business means it is crucial for managers to understand and implement IS (information systems). This major text, now in its second edition, provides the skills and knowledge necessary to choose the right systems, and to develop and manage them effectively. Business Information Systems: Technology, Development and Management assumes no prior knowledge of IS or IT, and emphasises the importance of IS to management decision making. It takes a 3 part structure: Part One covers hardware and software technologies; Part Two looks at information systems analysis and design; and Part Three describes the strategic management of IS. This successful format allows each section to be studied alongside individual modules, and enables students to focus clearly on specific areas and use the book for more than one course. This book is suitable for college students, undergraduate degree and postgraduate students taking courses with modules in the practical IT skills of selection, implementation, management and use of BIS. The practical sections are also of use to managers in industry involved in the development and use of IS.

Business information systems:technology, development and management in the E-business

This major text assumes no prior knowledge of IS or IT and builds both business and Information systems knowledge to enable the reader to choose the right systems, to develop them and to manage them effectively. The three-part structure to the book covers: Introduction to business information systems Business information systems development Business information systems management Suitable for any IS, BIS or MIS course from UG to MBA level within a Business or Computer Science Department.

Business information systems:technology, development and management in the E-business

A comprehensive introduction to the technology, development and management of business information systems. The book assumes no prior knowledge of IS or IT, so that new concepts and terms are defined as clearly as possible, with explanations in the text, and definitions at the margin. In this fast-moving area, the book covers both the crucial underpinnings of the subject as well as the most recent business and technology applications. It is written for students on any IS, BIS or MIS course from undergraduate to postgraduate and MBA level within a Business or Computer Science Department.

Business information systems:technology, development and management for the e-business

A comprehensive introduction to the technology, development and management of business information systems. The book assumes no prior knowledge of IS or IT, so that new concepts and terms are defined as clearly as possible, with explanations in the text, and definitions at the margin. In this fast-moving area, the book covers both the crucial underpinnings of the subject as well as the most recent business and technology applications.It is written for students on any IS, BIS or MIS course from undergraduate to postgraduate and MBA level within a Business or Computer Science Department - See more at: http://catalogue.pearsoned.ca/educator/product/Business-Information-Systems-Technology-Development-and-Management-for-the-EBusiness/9780273716624.page#sthash.LgAheK57.dpuf

Knowledge management and enterprise risk management implementation in financial services

This paper starts from the viewpoint that enterprise risk management is a specific application of knowledge in order to control deviations from strategic objectives, shareholders’ values and stakeholders’ relationships. This study is looking for insights into how the application of knowledge management processes can improve the implementation of enterprise risk management. This article presents the preliminary results of a survey on this topic carried out in the financial services sector, extending a previous pilot study that was in retail banking only. Five hypotheses about the relationship of knowledge management variables to the perceived value of ERM implementation were considered. The survey results show that the two people-related variables, perceived quality of communication among groups and perceived quality of knowledge sharing were positively associated with the perceived value of ERM implementation. However, the results did not support a positive association for the three variables more related to technology, namely network capacity for connecting people (which was marginally significant), risk management information system functionality and perceived integration of the information systems. Perceived quality of communication among groups appeared to be clearly the most significant of these five factors in affecting the perceived value of ERM implementation.

Improving scheduling techniques in heterogeneous systems with dynamic, on-line optimisations

Computational performance increasingly depends on parallelism, and many systems rely on heterogeneous resources such as GPUs and FPGAs to accelerate computationally intensive applications. However, implementations for such heterogeneous systems are often hand-crafted and optimised to one computation scenario, and it can be challenging to maintain high performance when application parameters change. In this paper, we demonstrate that machine learning can help to dynamically choose parameters for task scheduling and load-balancing based on changing characteristics of the incoming workload. We use a financial option pricing application as a case study. We propose a simulation of processing financial tasks on a heterogeneous system with GPUs and FPGAs, and show how dynamic, on-line optimisations could improve such a system. We compare on-line and batch processing algorithms, and we also consider cases with no dynamic optimisations.

Economical analysis for investment on measuring systems

Metrology processes contribute to entire manufacturing systems that can have a considerable impact on financial investment in coordinate measuring systems. However, there is a lack of generic methodologies to quantify their economical value in today’s industry. To solve this problem, a mathematical model is proposed in this paper by statistical deductive reasoning. This is done through defining the relationships between Process Capability Index, measurement uncertainty and tolerance band. The correctness of the mathematical model is proved by a case study. Finally, several comments and suggestions on evaluating and maximizing the benefits of metrology investment are given.

Bi-directional double auction for financial market simulation

Typical Double Auction (DA) models assume that trading agents are one-way traders. With this limitation, they cannot directly reflect the fact individual traders in financial markets (the most popular application of double auction) choose their trading directions dynamically. To address this issue, we introduce the Bi-directional Double Auction (BDA) market which is populated by two-way traders. Based on experiments under both static and dynamic settings, we find that the allocative efficiency of a static continuous BDA market comes from rational selection of trading directions and is negatively related to the intelligence of trading strategies. Moreover, we introduce Kernel trading strategy designed based on probability density estimation for general DA market. Our experiments show it outperforms some intelligent DA market trading strategies. Copyright © 2013, International Foundation for Autonomous Agents and Multiagent Systems (www.ifaamas.org). All rights reserved.