Offshoring of Information-intensive Services: Structural Breaks in Industry Life Cycles. ACES Working Papers, August 2010

The emergence of widespread offshoring of information-intensive services is arguably one of the more impactful phenomena to transform business in the last ten years. A growing body of research has examined the firm-level drivers andlocation factors (i.e., the why's and where's) of services offshoring. However, little empirical research has examined the maturation sequencing (or when's) of services offshoring. Adopting industry life cycle theory as a framework, the key research questions examined in the paper are: when do different categories of offshoring services provision change from being emergent sectors to more mature ones, and how does the timing of this sequence relate to the type of service offshored. Using a database of 1420 offshore services FDI projects, we find that the value-add as well as the information sensitivity of the service category are related to when the service categories progress through the industry life cycle. Implications for future waves of service offshoring are discussed.

The effect of life expectancy on fertility, saving, schooling and economic growth: theory and evidence

We construct a simple growth model where agents with uncertain survival choose schooling time, life-cycle consumption and the number of children. We show that rising longevity reduces fertility but raises saving, schooling time and the growth rate at a diminishing rate. Cross-section analyses using data from 76 countries support these propositions: life expectancy has a significant positive effect on the saving rate, secondary school enrollment and growth but a significant negative effect on fertility. Through sensitivity analyses, the effect on the saving rate is inconclusive, while the effects on the other variables are robust and consistent. These estimated effects are decreasing in life expectancy. Copyright The editors of the Scandinavian Journal of Economics 2005.

The Bali bombs and the tourism development cycle

This paper analyses the impact of the Bali bombings on international visitor arrivals in Bali and compares this crisis with previous crises with reference to Butler’s hypothetical tourism area life cycle. The paper demonstrates that the Bali bombings had by far the greatest impact on international tourism visitation than any other crisis in the island’s history. Such was the severity of the decline in Bali that both national and local measures were taken to restore confidence. Important though these measures were, they do not fully account for the strong resurgence in international arrivals, suggesting that the destination has not yet reached consolidation in accordance with Butler’s hypothesis and that the strength of the resurgence owes much to the underlying trend of the development phase associated with the general picture proposed by Butler.

Whole life performance bid evaluation in the Korean public sector

Korea has increasingly adopted design-build for public construction projects in the last few years. There is a much greater awareness of the need to change a system based on ‘Value for Money’ which is high on the government's agenda. A whole life performance bid evaluation model is proposed to aid decision makers in the selection of a design-builder. This is based on the integration of a framework using an analytic hierarchy process as the bid awarding system is being changed from one based on lowest price, to one based on best value over the life-cycle. Key criteria like whole life cost, service life planning and design quality are important through the key stages of evaluation process. The model uses a systematic and holistic approach which enables a public sector to make better decisions in design-builder selection, which will deliver whole life benefits, based on long term cost-effectiveness and whole life.

Estimation of transportation battery second life for use in electricity grid systems

This paper presents research from part of a larger project focusing on the potential development of commercial opportunities for the reuse of batteries on the electricity grid system, subsequent to their primary use in low and ultra-low carbon vehicles, and investigating the life cycle issues surrounding the batteries. The work has three main areas; examination of electric vehicle fleet data in detail to investigate usage in first life. Batteries that have passed through a battery recycler at the end of their first life have been tested within the laboratory to confirm the general assumption that remaining capacity of 80% after use in transportation is a reasonable assumption as a basis for second-life applications. The third aspect of the paper is an investigation of the equivalent usage for three different second-life applications based on connection to the electricity grid. Additionally, the paper estimates the time to cell failure of the batteries within their second-life application to estimate lifespan for use within commercial investigations. © 2014 IEEE.

What Is a Firm’s Life Expectancy? Empirical Evidence in the Context of Portuguese Companies

It is a fact that the uncertainty about a firm’s future has to be measured and incorporated into a company’s valuation throughout the explicit analysis period – in the continuing or terminal value within valuation models. One of the concerns that can influence the continuing value of enterprises, which is not explicitly considered in traditional valuation models, is a firm’s average life expectancy. Although the literature has studied the life cycle of a firm, there is still a considerable lack of references on this topic. If we ignore the period during which a company has the ability to produce future cash flows, the valuations can fall into irreversible errors, leading to results markedly different from market values. This paper aims to provide a contribution in this area. Its main objective is to construct a mortality table for non-listed Portuguese enterprises, showing that the use of a terminal value through a mathematical expression of perpetuity of free cash flows is not adequate. We provide the use of an appropriate coefficient to perceive the number of years in which the company will continue to operate until its theoretical extinction. If well addressed regarding valuation models, this issue can be used to reduce or even to eliminate one of the main problems that cause distortions in contemporary enterprise valuation models: the premise of an enterprise’s unlimited existence in time. Besides studying the companies involved in it, from their existence to their demise, our study intends to push knowledge forward by providing a consistent life and mortality expectancy table for each age of the company, presenting models with an explicitly and different survival rate for each year. Moreover, we show that, after reaching a certain age, firms can reinvent their business, acquiring maturity and consequently postponing their mortality through an additional life period.

Energy harvesting for monitoring bridges over their operational life

The use of energy harvesting materials for large infrastructure is a promising and growing field. In this regard, the use of such harvesters for the purpose of structural health monitoring of bridges has been proposed in recent times as one of the feasible options since the deployment of them can remove the necessity of an external power source. This paper addresses the performance issue of such monitors over the life-cycle of a bridge as it deteriorates and the live load on the structure increases. In this regard, a Lead Zirconate Titanate (PZT) material is considered as the energy harvesting material and a comparison is carried out over the operational life of a reinforced concrete bridge. The evolution of annual average daily traffic (AADT) is taken into consideration, as is the degradation of the structure over time, due to the effects of corrosion. Evolution of such harvested energy is estimated over the life-cycle of the bridge and the sensitivity of harvested energy is investigated for varying rates of degradation and changes in AADT. The study allows for designing and understanding the potential of energy harvesters as a health monitor for bridges. This paper also illustrates how the natural growth of traffic on a bridge over time can accentuate the identification of damage, which is desirable for an ageing structure. The paper also assesses the impact and effects of deployment of harvesters in a bridge as a part of its design process, considering performance over the entire life-cycle versus a deployment at a certain age of the structure.

Life history of a wide-ranging deepwater lantern shark in the north-east Atlantic, Etmopterus spinax (Chondrichthyes: Etmopteridae), with implications for conservation

In this paper, the population biology of the velvet belly lanternshark Etmopterus spinax was studied and life-history coefficients determined. Age was estimated from sections of the second dorsal spine and validated by marginal increment analysis. Males attained a maximum age of 8 years while 11 year-old females were found. Several growth models were fitted and compared for both size-at-age and mass-at-age data, showing that even though this is a small-sized species, it has a relatively slow growth rate. This species matures late, specifically at 49.6 and 42.5% of the maximum observed ages for males and females, respectively. It has a low fecundity, with a mean ovarian fecundity of 9.94 oocytes and a mean uterine fecundity of 7.59 embryos per reproductive cycle. This species seems to have a long reproductive cycle, and even though no conclusive data were obtained, a 2-3 year cycle is possible. The estimated coefficients indicate that this species has a vulnerable life cycle, typical of deepwater squalid sharks. Given the high fishing pressures that it is suffering in the north-east Atlantic, this fish may already be facing severe declines or in risk of facing them in the near future. (C) 2008 The Authors Journal compilation (C) 2008 The Fisheries Society of the British Isles

Life history & environmental effects on telomere dynamics in Atlantic salmon

While much of the study of molecular biology inevitably focuses on the parts of the genome that contain active genes, there are also non-coding regions that nonetheless play an essential role in maintaining genome integrity. One such region are telomeres, which cap the ends of all eukaryotic chromosomes and play an important role in chromosome protection. Telomere loss occurs at each cell division as a result of the ‘end replication problem’ and a relatively short telomere length is indicative of poor biological state. Thus far, the majority of studies on the dynamics and role of telomeres have been biased towards certain taxa. Research to date has mostly focussed on humans, other mammals and birds. There has been far less research on the telomere dynamics of ectotherms. It is important that we do so, especially since ectothermic vertebrates do not seem to down-regulate telomerase expression in the same way as endotherms, suggesting that their telomere dynamics may be less predictable in the later life stages. The main objective of this thesis was therefore to investigate how life history and environmental effects may influence telomere dynamics in Atlantic salmon Salmo salar. I carried out carefully designed experiments, both in the laboratory and in the wild, using a longitudinal approach where possible, in order to address a number of specific questions that are connected to this central theme. In chapter 2, I demonstrate that there can be significant links between parental life history and offspring telomere dynamics. Maternal life history traits, in particular egg size, were most strongly related to offspring telomere length at the embryonic stages. Paternal life history traits, such as early life growth rate, had a greater association with offspring telomere dynamics in the later stages of development. In chapter 3, using a wild Atlantic salmon population, I found that most individuals experienced a reduction in telomere length during the migratory phase of their life cycle; however the relative rate of telomere loss was dependent on sex, with males experiencing a relatively greater loss. Unexpectedly, I also found that juvenile salmon that had the shortest telomeres at the time of outward migration, had the greatest probability of surviving through to the return migration. In chapter 4, again using a wild system involving experimental manipulations of juvenile Atlantic salmon in Scottish streams, I found that telomere length in juvenile fish was influenced by parental traits and by direct environmental effects. Faster-growing fish had shorter telomeres and there was a greater cost (in terms of reduced telomere length) if the growth occurred in a harsher environment. I also found a positive association between offspring telomere length and the growth history of their fathers (but not mothers), represented by the number of years that fathers had spent at sea. Chapter 5 explored the hypotheses that oxidative DNA damage, catalase (CAT) antioxidant activity and cell proliferation rate are underlying mechanisms linking incubation temperature and telomere dynamics in salmon embryos. No evidence was found for any such effects, but telomere lengths in salmon embryos were found to be significantly affected by the temperature of the water in which they were living. There is also evidence that telomere length significantly increases during embryonic development. In summary, this thesis has shown that a complex mix of environmental and parental effects appear to influence telomere dynamics in Atlantic salmon, with parental effects especially evident during early life stages. It also demonstrated that telomeres lengthen through the embryo stages of development before reducing once the fry begin feeding, indicating that the patterns of telomere loss commonly found in endotherms may differ in ectotherms. Reasons for this variation in telomere dynamics are presented in the final Discussion chapter of the thesis.

Why do so few hold stocks : theory and evidence

This study develops a life-cycle model where investors make investment decisions in a realistic environment. Model results show that personal illiquid projects (housing and children), fixed costs (once-off/per-period participation costs plus variable/fixed transaction costs) and endogenous risky human capital (with permanent, transitory and disastrous shocks) together are able to address both the non-participation puzzle and the age-effects puzzle. Empirical implications of the model are examined using Heckman’s two-step method with the latest five Surveys of Consumer Finance (SCF). Regression results show that liquidity, informational cost and human capital are indeed the major determinants of participation and asset allocation decisions at different stages of an investor’s life.

Testing a framework for the quality of process models: A case study

Process modeling can be regarded as the currently most popular form of conceptual modeling. Research evidence illustrates how process modeling is applied across the different information system life cycle phases for a range of different applications, such as configuration of Enterprise Systems, workflow management, or software development. However, a detailed discussion of critical factors of the quality of process models is still missing. This paper proposes a framework consisting of six quality factors, which is derived from a comprehensive literature review. It then presents in a case study, a utility provider, who had designed various business process models for the selection of an Enterprise System. The paper summarizes potential means of conducting a successful process modeling initiative and evaluates the described modeling approach within the Guidelines of Modeling (GoM) framework. An outlook shows the potential lessons learnt, and concludes with insights to the next phases of this study.

Critical success factors of process modeling for enterprise systems

The integrated and process oriented nature of Enterprise Systems (ES) has led organizations to use process modeling as an aid in managing these systems. Enterprise Systems success factor studies explicitly and implicitly state the importance of process modeling and its contribution to overall Enterprise System success. However, no empirical evidence exists on how to conduct process modeling successfully and possibly differentially in the main phases of the ES life-cycle. This paper reports on an empirical investigation of the factors that influence process modeling success. An a-priori model with 8 candidate success factors has been developed to this stage. This paper introduces the research context and objectives, describes the research design and the derived model, and concludes by looking ahead to the next phases of the research design.

A comparative analysis of major ERP lifecycle implementation, management and support issues in Queensland Government

This paper reports on a study of ERP lifecycle major issues from the perspectives of individuals with substantial and diverse involvement with SAP Financials in Queensland Government. A survey was conducted of 117 ERP system project participants in five closely related state government agencies. A modified Delphi technique identified, rationalized and weighed perceived major issues in ongoing ERP life cycle implementation, management and support. The five agencies each implemented SAP Financials simultaneously using a common implementation partner. The three survey rounds of the Delphi technique, together with coding and synthesizing procedures, resulted in a set of 10 major issue categories with 38 sub-issues. Relative scores of issue importance are compared across government agencies, roles (client vs implementation partner) and organizational levels (strategic, technical and operational). Study findings confirm the importance of this finer partitioning of the data, and distinctions identified reflect the circumstances of ERP lifecycle implementation, management and support among the stakeholder groups. The study findings should also be of interest to stakeholders who seek to better understand the issues surrounding ERP systems and to better realise the benefits of ERP.