Drivers of Local Firms’ Focus on Internal R&D in Emerging Economies and Their International Performance

Grounded on the resource-based view of the firm, the study of this thesis investigates the effect of four internal and external factors – engineer intensity, location, affiliation with the government, government funding – on Chinese firms’ decision to either invest in internal R&D activities or external R&D and the effect of this decision on the firms’ international market success. In addition, the moderating role of the presence of foreign firms in China is examined. To understand these relationships, the thesis’ theorization focuses on the issue of how firms can combine optimally the two options – “internal R&D” and “external R&D”. In this regard I juxtapose internal R&D and external R&D and compare their advantages and disadvantages. To test my model, I apply panel data from the Annual Industrial Survey Database provided by the Chinese National Bureau of Statistics. My results show that three of the four investigated factors affect Chinese firms’ resource allocation decisions; and effective resource allocation decisions lead effectively to international market success, strengthened by the presence of foreign firms in China. Moreover the findings bear several theoretical and managerial contributions. First I propose the last dimension of the “VRIO framework” – “organization” – as an endogenous component of the VRIO framework, as my study investigated how firms can effectively combine resources to generate a competitive advantage in terms of international market success. Previous academic literature so far focused on examining whether internal and external R&D are complements or substitutes. My study fills a gap in the literature by investigating the determinants of the efficient combination of the two strategies and the outcome of the combination. One of the managerial implications is that Chinese firms can learn from foreign companies that are present in China.

Performance of hybrid rebars as longitudinal reinforcement in normal strength concrete

A/though steel is most commonly used as a reinforcing material in concrete due to its competitive cost and favorable mechanical properties, the problem of corrosion of steel rebars leads to a reduction in life span of the structure and adds to maintenance costs. Many techniques have been developed in recent past to reduce corrosion (galvanizing, epoxy coating, etc.) but none of the solutions seem to be viable as an adequate solution to the corrosion problem. Apart from the use of fiber reinforced polymer (FRP) rebars, hybrid rebars consisting of both FRP and steel are also being tried to overcome the problem of steel corrosion. This paper evaluates the performance of hybrid rebars as longitudinal reinforcement in normal strength concrete beams. Hybrid rebars used in this study essentially consist of glass fiber reinforced polymer (GFRP) strands of 2 mm diameter wound helically on a mild steel core of 6 mm diameter. GFRP stirrups have been used as shear reinforcement. An attempt has been made to evaluate the flexural and shear performance of beams having hybrid rebars in normal strength concrete with and without polypropylene fibers added to the concrete matrix

Oral Presentations: Preparation and Performance

A short lecture on presentation skills in an academic environment

Analyzing the performance of non-listed real estate funds: an panel data analysis

The rapid growth of non-listed real estate funds over the last several years has contributed towards establishing this sector as a major investment vehicle for gaining exposure to commercial real estate. Academic research has not kept up with this development, however, as there are still only a few published studies on non-listed real estate funds. This paper aims to identify the factors driving the total return over a seven-year period. Influential factors tested in our analysis include the weighted underlying direct property returns in each country and sector as well as fund size, investment style gearing and the distribution yield. Furthermore, we analyze the interaction of non-listed real estate funds with the performance of the overall economy and that of competing asset classes and found that lagged GDP growth and stock market returns as well as contemporaneous government bond rates are significant and positive predictors of annual fund performance.

Performance drivers of UK unlisted property funds

An unlisted property fund is a private investment vehicle which aims to provide direct property total returns and may also employ financial leverage which will accentuate performance. They have become a far more prevalent institutional property investment conduit since the early 2000’s. Investors have been primarily attracted to them due to the ease of executing a property exposure, both domestically and internationally, and for their diversification benefits given the capital intensive nature of constructing a well diversified commercial property investment portfolio. However, despite their greater prominence there has been little academic research conducted on the performance and risks of unlisted property fund investments. This can be attributed to a paucity of available data and limited time series where it exists. In this study we have made use of a unique dataset of institutional UK unlisted non-listed property funds over the period 2003Q4 to 2011Q4, using a panel modelling framework in order to determine the key factors which impact on fund performance. The sample provided a rich set of unlisted property fund factors including market exposures, direct property characteristics and the level of financial leverage employed. The findings from the panel regression analysis show that a small number of variables are able to account for the performance of unlisted property funds. These variables should be considered by investors when assessing the risk and return of these vehicles. The impact of financial leverage upon the performance of these vehicles through the recent global financial crisis and subsequent UK commercial property market downturn was also studied. The findings indicate a significant asymmetric effect of employing debt finance within unlisted property funds.

The design of a semantics-oriented organisational performance measurement system

Current methods and techniques used in designing organisational performance measurement systems do not consider the multiple aspects of business processes or the semantics of data generated during the lifecycle of a product. In this paper, we propose an organisational performance measurement systems design model that is based on the semantics of an organisation, business process and products lifecycle. Organisational performance measurement is examined from academic and practice disciplines. The multi-discipline approach is used as a research tool to explore the weaknesses of current models that are used to design organisational performance measurement systems. This helped in identifying the gaps in research and practice concerning the issues and challenges in designing information systems for measuring the performance of an organisation. The knowledge sources investigated include on-going and completed research project reports; scientific and management literature; and practitioners’ magazines.

Are informed citizens more trusting? Transparency of performance data and trust towards a British police force

In Britain, substantial cuts in police budgets alongside controversial handling of incidents such as politically sensitive enquiries, public disorder and relations with the media have recently triggered much debate about public knowledge and trust in the police. To date, however, little academic research has investigated how knowledge of police performance impacts citizens’ trust. We address this long-standing lacuna by exploring citizens’ trust before and after exposure to real performance data in the context of a British police force. The results reveal that being informed of performance data affects citizens’ trust significantly. Furthermore, direction and degree of change in trust are related to variations across the different elements of the reported performance criteria. Interestingly, the volatility of citizens’ trust is related to initial performance perceptions (such that citizens with low initial perceptions of police performance react more significantly to evidence of both good and bad performance than citizens with high initial perceptions), and citizens’ intentions to support the police do not always correlate with their cognitive and affective trust towards the police. In discussing our findings, we explore the implications of how being transparent with performance data can both hinder and be helpful in developing citizens’ trust towards a public organisation such as the police. From our study, we pose a number of ethical challenges that practitioners face when deciding what data to highlight, to whom, and for what purpose.

The development of a data-driven application benchmarking approach to performance modelling

Performance modelling is a useful tool in the lifeycle of high performance scientific software, such as weather and climate models, especially as a means of ensuring efficient use of available computing resources. In particular, sufficiently accurate performance prediction could reduce the effort and experimental computer time required when porting and optimising a climate model to a new machine. In this paper, traditional techniques are used to predict the computation time of a simple shallow water model which is illustrative of the computation (and communication) involved in climate models. These models are compared with real execution data gathered on AMD Opteron-based systems, including several phases of the U.K. academic community HPC resource, HECToR. Some success is had in relating source code to achieved performance for the K10 series of Opterons, but the method is found to be inadequate for the next-generation Interlagos processor. The experience leads to the investigation of a data-driven application benchmarking approach to performance modelling. Results for an early version of the approach are presented using the shallow model as an example.

Rethinking the literature on the performance of Chinese multinational enterprises

We synthesize the literature on Chinese multinational enterprises (MNEs) and find that much of the prior research is based on as few as a dozen case studies of Chinese firms. They are so case-specific that it has led to a misplaced call for new theories to explain Chinese firms’ internationalization. In an attempt to better relate theory with empirical evidence, we examine the largest 500 Chinese manufacturing firms. We aim to find out the number of Chinese manufacturing firms to be true MNEs by definition, and to examine their financial performance relative to global peers using the financial benchmarking method. We develop our theoretical perspectives from new internalization theory. We find that there are only 49 Chinese manufacturing firms to be true MNEs, whereas the rest is purely domestic firms. Their performance is poor relative to global peers. Chinese MNEs have home country bound firm-specific advantages (FSAs), which are built upon home country-specific advantages (home CSAs). They have not yet developed advanced management capabilities through recombination with host CSAs. Essentially, they acquire foreign firms to increase their sales in domestic market, but they fail to be competitive internationally and to achieve superior performance in overseas operations. Our findings have important strategic implications for managers, public policy makers, and academic research.

Cool Roofs for improving thermal performance of EU office buildings: an investigation for different climates and building layouts

Cool materials are characterized by having a high solar reflectance r – which is able to reduce heat gains during daytime - and a high thermal emissivity ε that enables them to dissipate the heat absorbed throughout the day during night. Despite the concept of cool roofs - i.e. the application of cool materials to roof surfaces - is well known in US since 1990s, many studies focused on their performance in both residential and commercial sectors under various climatic conditions for US countries, while only a few case studies are analyzed in EU countries. The present work aims at analyzing the thermal benefits due to their application to existing office buildings located in EU countries. Indeed, due to their weight in the existing buildings stock, as well as the very low rate of new buildings construction, the retrofit of office buildings is a topic of great concern worldwide. After an in-depth characterization of the existing buildings stock in the EU, the book gives an insight into roof energy balance due to different technological solutions, showing in which cases and to what extent cool roofs are preferable. A detailed description of the physical properties of cool materials and their availability on the market provides a solid background for the parametric analysis carried out by means of detailed numerical models that aims at evaluating cool roofs performance for various climates and office buildings configurations. With the help of dynamic simulations, the thermal behavior of representative office buildings of the existing EU buildings stock is assessed in terms of thermal comfort and energy needs for air conditioning. The results, which consider several variations of building features that may affect the resulting energy balance, show how cool roofs are an effective strategy for reducing overheating occurrences and thus improving thermal comfort in any climate. On the other hand, potential heating penalties due to a reduction in the incoming heat fluxes through the roof are taken into account, as well as the aging process of cool materials. Finally, an economic analysis of the best performing models shows the boundaries for their economic convenience.

CONTRA: Improving the performance of dynamic investigations in natural abundance organic solids by mirror-symmetric constant-time CODEX

We present a minor but essential modification to the CODEX 1D-MAS exchange experiment. The new CONTRA method, which requires minor changes of the original sequence only, has advantages over the previously introduced S-CODEX, since it is less sensitive to artefacts caused by finite pulse lengths. The performance of this variant, including the finite pulse effect, was confirmed by SIMPSON calculations and demonstrated on a number of dynamic systems. (C) 2007 Elsevier Inc. All rights reserved.

Piano Performance at the New York Trade School

A piano player is shown performing at the New York Trade School. He is likely playing on a piano tuned or built by students in the Piano Crafts Department at the school. Black and white photograph.

Piano Performance at a New York Trade School Commencement

Six piano players spread across the front of the stage at the New York Trade School perform at a commencement ceremony. The graduates can be seen sitting in the first few rows of the auditorium with guests filling up the rest of the space. On the dais several administrators from the New York Trade School are shown. Black and white photograph.