An Examination of How Entrepreneurs Can Improve Their Position in Relation to Investors

Previous research has been inconclusive regarding the impact of those who invest in entrepreneurs. Consider for a moment how potentially important they are to entrepreneurs. They for example decide who deserves funding, how much time they contribute to their portfolio firms, how they grant entrepreneurs access to their networks, and help entrepreneurs acquire additional funding. In sum, investors potentially have a great impact on the success of entrepreneurs. It is therefore important that we better understand the environment, relationships and context in which parties operate. This thesis contains five articles that explore investors’ and entrepreneurs’ relationships from various viewpoints, in theoretical frameworks, and use a variety of data and research methods. The first article is a literature review that summarises what we know of venture capital, business angel and corporate venture capital funding. The second article studies the entrepreneurs’ investor selection process, its consequences, and identifies key factors that influence the process. Earlier, the common approach has been to concentrate research on the investors’ selection policy, not the entrepreneurs’. The data and conclusions are based on multiple case studies. The article analyses how entrepreneurs can ensure that they get the best possible investor, when it is possible for an entrepreneur to select an investor, and what are the consequences of investor selection. The third article employs power constructs (dependency, power balance/imbalance, power sources) and analyses their applicability in the investor-entrepreneur relationship. Power constructs are extensively studied and utilised in the management and organisation literature. In entrepreneur investor relationships, power aspects are rarely analysed. However, having the ability to “get others to do things they would not otherwise do” is a very common factor in the investor-entrepreneur relationship. Therefore, employing and analysing the applicability of power constructs in this setting is well founded. The article is based on a single case study but suggests that power constructs could be applicable and consequently provide additional insights into the investor-entrepreneur relationship. The fourth article studies the role of advisors in the venture capital investment process and analyses implications for research and practice, particularly from the entrepreneurs’ perspective. The common entrepreneurial finance literature describes the entrepreneur-investor relationship as linear and bilateral. However, it was discovered that advisors may influence the relationship. In this article, the role of advisors, operating procedures and advisors’ impact on different parties is analysed. The fifth article concentrates on investors’ certification effect. The article measures and demonstrates that venture capital investment is likely to increase the credibility (in terms of media attention) of early stage firms, those that most often need additional credibility. Understanding investor certification can affect how entrepreneurs evaluate investment offers and how investors can make their offers appear more lucrative.

A critical re-examination and a revised phase diagram of La1-xSrxCoO3

We report the results of a comprehensive study on dc magnetization, ac susceptibility, and the magnetotransport properties of the La1-xSrxCoO3(0 <= x <= 0.5) system. At higher Sr doping (x >= 0.18), the system exhibits Brillouin-like field cooled magnetization (M-FC). However, for x < 0.18, the system exhibits a kink in the M-FC, a peak at the intermediate field in the thermoremnant magnetization and a non-saturating tendency in the M-H plot that all point towards the characteristic of spin glass behavior. More interestingly, dc magnetization studies for x < 0.18 do not suggest the existence of ferromagnetic correlation that can give rise to an irreversible line in the spin glass regime. The ac susceptibility study for x > 0.2 exhibits apparently no frequency dependent peak shift around the ferromagnetic transition region. However, a feeble signature of glassiness is verified by studying the frequency dependent shoulder position in chi `' (T) and the memory effect below the Curie temperature. But, for x < 0.18, the ac susceptibility study exhibits a considerable frequency dependent peak shift, time dependent memory effect, and the characteristic spin relaxation time scale tau(0) similar to 10(-13) s. The reciprocal susceptibility versus temperature plot adheres to Curie-Weiss behavior and does not provide any signature of preformed ferromagnetic clusters well above the Curie temperature. The magnetotransport study reveals a cross over from metallic to semiconducting-like behavior for x <= 0.18. On the semiconducting side, the system exhibits a large value of magnetoresistance (upto 75%) towards low temperature and it is strongly connected to the spin dependent part of the random potential distribution in the spin glass phase. Based on the above observations, we have reconstructed a new magnetic phase diagram and characterized each phase with associated properties.

Examination of Stress-Fields In Elastic Plastic Indentation

A block of high-purity copper was indented by a 120-degrees diamond-tipped cone. Strain gauges were placed on the surface to measure the radial strains at different surface locations, during loading as well as unloading. The competence of three stress fields proposed for elastic-plastic indentation is assessed by comparing the predicted surface radial strains with those experimentally observed.

An examination of the BEBO model with the results of ab initio calculations of a reaction series

The BEBO (bond energy-bond order) model of Johnston and Parr is examined with the results of ab initio MO calculations on a series of metathetic reactions which involve hydrogen transfer. Energies are calculated at the 6-31G**/PMP2 = full//6-31G** level while the bond orders are estimated using the 6-31G** basis set with the geometry optimisation at the single configuration unrestricted Hartree-Fock frame. Our analysis reveals that the bond-order exponent in the BEBO theory is greater than unity for the reaction series and the entropy term becomes implicitly present in the BEBO model.

Re-examination of compaction characteristics of fine-grained soils

Standard Proctor compaction test data were generated for 3 soils with liquid limit water contents ranging from 48% to 84%. It has been established that by defining a soil by its liquid limit and coarse fraction, the path of compaction for a specific compactive effort can be predicted via a simple density-water content-liquid limit relationship. (Abstract quotes from original text)

Re-examination of crack opening model of interface fracture

The complex singularity associated with a crack at the interface between two dissimilar, isotropic and homogeneous materials leads to mathematical artefacts, such as stress oscillations and crack face interpenetrations in the vicinity of the crack tip. To avoid these unrealistic features, Sinclair (Sinclair GB. On the stress singularity at an interface crack. International Journal of Fracture 1980;16(2):111-9) assumed a finite crack opening angle (COA) such that the singularity lambda became real equal to 1/2. This paper extends the COA model by considering real singularities not necessarily equal to 1/2. When COA is 0 degrees: the interface crack singularity is complex with a real part equal to 1/2. On increasing COA, the imaginary part of the singularity decreases and becomes zero at a threshold value of COA; at this point, the singularity is a real, repeated value. A further increase in COA results in a pair of real singularities. Different crack opening configurations and material combinations are studied, and results presented for threshold COAs and associated values of singularity. Stress analyses for these three regimes: (a) complex, (b) real pair and (c) real repeated singularities, are reported. It is seen that additional complexities are present in the last case. Typical results for stress fields are also included for comparing with standard fields. (C) 1999 Elsevier Science Ltd. All rights reserved.

Compressive fracture features of syntactic foams-microscopic examination

Syntactic foams made by mechanical mixing of polymeric binder and hollow spherical particles are used as core materials in sandwich structured materials. Low density of such materials makes them suitable for weight sensitive applications. The present study correlates various postcompression microscopic observations in syntactic foams to the localized events leading the material to fracture. Depending upon local stress conditions the fracture features of syntactic foam are identified for various modes of fracture such as compressive, shear and tensile. Microscopic observations were also taken at sandwich structures containing syntactic foam as core materials and also at reinforced syntactic foam containing glass fibers. These observations provide conclusive evidences for the fracture features generated under different failure modes. All the microscopic observations were taken using scanning electron microscope in secondary electron mode. (C) 2002 Kluwer Academic Publishers.

Total Factor Productivity Growth and Output Growth in Indian Electronics Industry in the Liberalization Era: An Empirical Examination

This paper analyses the efficiency and productivity growth of Electronics industry, which is considered one of the vibrant and rapidly growing manufacturing industry sub-sectors of India in the liberalization era since 1991. The main objective of the paper is to examine the extent and growth of Total Factor Productivity (TFP) and its components namely, Technical Efficiency Change (TEC) and Technological Progress (TP) and its contribution to total output growth. In this study, the electronics industry is broadly classified into communication equipments, computer hardware, consumer electronics and other electronics, with the purpose of performing a comparative analysis of productivity growth for each of these sub-sectors for the time period 1993-2004. The paper found that the sub-sectors have improved in terms of economies of scale and contribution of capital.The change in technical efficiency and technological progress moved in reverse directions. Three of the four industry witnessed growth in the output primarily due to TFPG and the contribution of input growth to output growth had been negative/negligible, except for Computer hardware where contribution from both input growth and TFPG to output growth were prominent. The paper explored the possible reasons that addressed the issue of low technical efficiency and technological progress in the industry.

Detection and Evaluation of Impact damage in CFRP Laminates Using Ultrasound C-Scan and IR Thermography

Advanced composite structural components made up of Carbon Fibre Reinforced Polymers (CFRP) used in aerospace structures such as in Fuselage, Leading & Trailing edges of wing and tail, Flaps, Elevator, Rudder and entire wing structures encounter most critical type of damage induced by low velocity impact (<10 m/s) loads. Tool dropped during maintenance & service,and hailstone impacts on runways are common and unavoidable low-velocity impacts. These lowvelocity impacts induce defects such as delaminations, matrix cracking and debonding in the layered material, which are sub-surface in nature and are barely visible on the surface known as Barely Visible Impact Damage (BVID). These damages may grow under service load, leading to catastrophic failure of the structure. Hence detection, evaluation and characterization of these types of damage is of major concern in aerospace industries as the life of the component depends on the size and shape of the damage.In this paper, details of experimental investigations carried out and results obtained from a low-velocity impact of 30 Joules corresponding to the hailstone impact on the wing surface,simulated on the 6 mm CFRP laminates using instrumented drop-weight impact testing machine are presented. The Ultrasound C-scan and Infrared thermography imaging techniques were utilized extensively to detect, evaluate and characterize impact damage across the thickness of the laminates.

Ultrasound-modulated optical tomography: recovery of amplitude of vibration in the insonified region from boundary measurement of light correlation

We address a certain inverse problem in ultrasound-modulated optical tomography: the recovery of the amplitude of vibration of scatterers [p(r)] in the ultrasound focal volume in a diffusive object from boundary measurement of the modulation depth (M) of the amplitude autocorrelation of light [phi(r, tau)] traversing through it. Since M is dependent on the stiffness of the material, this is the precursor to elasticity imaging. The propagation of phi(r, tau) is described by a diffusion equation from which we have derived a nonlinear perturbation equation connecting p(r) and refractive index modulation [Delta n(r)] in the region of interest to M measured on the boundary. The nonlinear perturbation equation and its approximate linear counterpart are solved for the recovery of p(r). The numerical results reveal regions of different stiffness, proving that the present method recovers p(r) with reasonable quantitative accuracy and spatial resolution. (C) 2011 Optical Society of America

Ultrasound modulated optical tomography: Young's modulus of the insonified region from measurement of natural frequency of vibration

We demonstrate a method to recover the Young's modulus (E) of a tissue-mimicking phantom from measurements of ultrasound modulated optical tomography (UMOT). The object is insonified by a dualbeam, confocal ultrasound transducer (US) oscillating at frequencies f(0) and f(0) + Delta f and the variation of modulation depth (M) in the autocorrelation of light traversed through the focal region of the US transducer against Delta f is measured. From the dominant peaks observed in the above variation, the natural frequencies of the insonified region associated with the vibration along the US transducer axis are deduced. A consequence of the above resonance is that the speckle fluctuation at the resonance frequency has a higher signal-to-noise to ratio (SNR). From these natural frequencies and the associated eigenspectrum of the oscillating object, Young's modulus (E) of the material in the focal region is recovered. The working of this method is confirmed by recovering E in the case of three tissue-mimicking phantoms of different elastic modulus values. (C) 2011 Optical Society of America