Employee-owned firms: a labour model with potential?

In Spain, the companies that are mainly owned by the employees form a part of the Social Economy and offer an alternative business model, which is found in a conventional capitalist economy. The objective of this study is to establish whether there are significant differences in the performance of Employee Owned Firms (EOFs) and more conventionally structured businesses, non-Employee Owned Firms (non-EOFs), due to the inherent differences in the capital-ownership structure. The aim is to establish whether or not a corporate governance structure characterised by the employee participation for both the financial and the informational decision-making aspects can be advocated. The results show differences in favour of the conventional non-EOFs for various indicators measuring economic performance and confirm the different objectives of each business type; however, they provide evidence of significant differences in favour of the EOFs in terms of the efficient use of the capital and labour factors of production, according to the theoretical literature.

Measuring the impact of international R&D cooperation: the case of Spanish firms participating in the EU Framework Programme

The objective of this paper is to analyse the effects of international R&D cooperation on firms’ economic performance. Our approach, based on a complete data set with information about Spanish participants in research joint ventures supported by the EU Framework Programme during the period 1995-2005, establishes a recursive model structure to capture the relationship between R&D cooperation, knowledge generation and economic results, which are measured by labour productivity. In the analysis we take into account that the participation in this specific type of cooperative projects implies a selection process that includes both the self-selection by participants to join the consortia and the selection of projects by the European Commission to award the public aid. Empirical analysis has confirmed that: (1) R&D co-operation has a positive impact on the technological capacity of firms, captured through intan-gible fixed assets and (2) the technological capacity of firms is positively related to their productivity.

Robust scenario formulations for strategic supply chain optimization under uncertainty

Strategic supply chain optimization (SCO) problems are often modelled as a two-stage optimization problem, in which the first-stage variables represent decisions on the development of the supply chain and the second-stage variables represent decisions on the operations of the supply chain. When uncertainty is explicitly considered, the problem becomes an intractable infinite-dimensional optimization problem, which is usually solved approximately via a scenario or a robust approach. This paper proposes a novel synergy of the scenario and robust approaches for strategic SCO under uncertainty. Two formulations are developed, namely, naïve robust scenario formulation and affinely adjustable robust scenario formulation. It is shown that both formulations can be reformulated into tractable deterministic optimization problems if the uncertainty is bounded with the infinity-norm, and the uncertain equality constraints can be reformulated into deterministic constraints without assumption of the uncertainty region. Case studies of a classical farm planning problem and an energy and bioproduct SCO problem demonstrate the advantages of the proposed formulations over the classical scenario formulation. The proposed formulations not only can generate solutions with guaranteed feasibility or indicate infeasibility of a problem, but also can achieve optimal expected economic performance with smaller numbers of scenarios.

Novel Formulation and Efficient Solution Strategy for Strategic Optimization of an Industrial Chemical Supply Chain Under Demand Uncertainty

This paper is concerned with strategic optimization of a typical industrial chemical supply chain, which involves a material purchase and transportation network, several manufacturing plants with on-site material and product inventories, a product transportation network and several regional markets. In order to address large uncertainties in customer demands at the different regional markets, a novel robust scenario formulation, which has been developed by the authors recently, is tailored and applied for the strategic optimization. Case study results show that the robust scenario formulation works well for this real industrial supply chain system, and it outperforms the deterministic formulation and the classical scenario-based stochastic programming formulation by generating better expected economic performance and solutions that are guaranteed to be feasible for all uncertainty realizations. The robust scenario problem exhibits a decomposable structure that can be taken advantage of by Benders decomposition for efficient solution, so the application of Benders decomposition to the solution of the strategic optimization is also discussed. The case study results show that Benders decomposition can reduce the solution time by almost an order of magnitude when the number of scenarios in the problem is large.

Hemp fines - an agricultural by-product for biocomposites? A holistic approach

The technical, environmental and economic potential of hemp fines as a natural filler in bioplastics to produce biocomposites is the subject of this study – giving a holistic overview. Hemp fines are an agricultural by-product of the hemp fibres and shives production. Shives and fibres are for example used in the paper, animal bedding or composite area. About 15 to 20 wt.-% per kg hemp straw results in hemp fines after processing. In 2010 about 11,439 metric tons of hemp fines were produced in Europe. Hemp fines are an inhomogeneous material which includes hemp dust, shives and fibre. For these examinations the hemp fines are sieved in a further step with a tumbler sieving machine to obtain more specified fractions. The untreated hemp fines (ex work) as well as the sieved fractions are combined with a polylactide polymer (PLA) using a co-rotating twin screw extruder to produce biocomposites with different hemp fine content. By using an injection moulding machine standard test bars are produced to conduct several material tests. The Young’s modulus is increased and the impact strength reduced by hemp fines. With a content of above 15 wt.-% hemp fines are also improving the environmental (global warming potential) and economic performance in comparison to pure PLA.

Beyond the bottom line: redefining the value of design in SME formation

For SMEs to operate in the complex and globalised economic landscape of today engaging with innovation can sustain competitive advantage. Within Design Management, design is being increasingly posited as a strategic resource to facilitate the absorption of new design resources and leverage design knowledge in ways that support SMEs through such economic pressures. Evidencing the relationship between design and economic performance is complex, leading to extensive current research and industry efforts to show how design adds economic value. Despite the value of such efforts, it is important to recognise that innovation means different things to different organizations, especially for start-ups and SMEs. Within the rising tide of design-led innovation, there is a gap being explored in how design can effectively capture and evaluate its contribution within the complex and diverse situations of business development it engages. In seeking to address this gap, this paper presents findings from research undertaken within Design in Action (DiA), an AHRC-funded knowledge exchange hub. Presenting DiA as a single case study, the paper offers methodical reflection on five case example start-up businesses funded by DiA in order to explore the value that design-led innovation approaches offered in their formation.

Carbon nanotube films for flexible electronics

Discovering scalable routes to fabricate large scale electronic devices on flexible substrates has been the goal of the newly emerging field of flexible macroelectronics. Thin film transistors (TFTs) have been fabricated on flexible substrates by using organic small-molecule and polymer-based materials, or thin layers of crystalline inorganic semiconductors. Recently, films of carbon nanotubes have been proposed as electronic materials with superior electrical performance due to exceptional electrical and mechanical properties of single-walled carbon nanotubes (SWCNTs). In this thesis, some aspects of recent research efforts on integrating arrays of carbon nanotubes into macroelectronic devices are described. Carbon nanotube films have two major uses for flexible macroelectronics. The first approach uses carbon nanotube thin films as active semiconducting materials in the channel of flexible TFTs. Even though, high-performance carbon nanotube thin film transistors have been realized, the electronic non-homogeneity of the as-grown carbon nanotubes in the film limits the device performance for some applications. In this thesis, the application of electrochemical functionalization on carbon nanotube films to improve the electronic homogeneity of the film is described. The effect of the crystal quartz substrates on the growth rate of carbon nanotubes, and whether this can be used to sort out as-grown carbon nanotubes by electronic type is also discussed. Finally, I argue that high density carbon nanotube films can also be used as highly conducting stretchable interconnects on mechanically flexible electronic circuits. The sheet resistance and the nature of the buckling of carbon nanotube films on flexible substrates are discussed.

Uma análise da política econômica a partir do desempenho da indústria automotiva brasileira no cenário econômico de 2003-2014

Entre 2003 e 2008, o Brasil apresentou um positivo desempenho econômico em meio a um cenário externo favorável, entretanto a partir da crise de 2008, o governo brasileiro passou a adotar medidas anticíclicas a fim de minimizar os efeitos externos da crise. Essas medidas objetivaram o incentivo da demanda agregada, o que realmente sofreu um efeito positivo de curto prazo, entretanto essas políticas, além de apresentar uma natureza limitada, podem levar a cenários futuros indesejados para o desenvolvimento econômico, como o aumento da inadimplência e taxa elevadas de inflação. Somado a isso, as medidas de incentivos de inovação e de desenvolvimento tecnológico foram interrompidas pela crise ou não implementadas de forma efetiva. Diante disto, a monografia se propõe a analisar os efeitos dessas políticas de incentivo à demanda adotada no período a partir de uma análise da indústria automotiva brasileira, uma das indústrias mais poderosas e receptoras de incentivos governamentais, já que apresenta um caráter dinâmico e movimenta um grande número de indústrias de base. Logo, para que a indústria automotiva cresça e se desenvolva de forma sustentável, bem como os outros setores, o incentivo não deve ser de cunho setorial, por tanto, temporário, deve ser de natureza permanente e abrangente. Além disso, um incentivo da demanda terá resultados positivos com os incentivos tecnológicos, inovadores e de qualificação do capital humano para uma crescente exportação, levando a saldos positivos da balança comercial e, consequentemente, maiores investimentos a partir de uma indústria mais competitiva.

The Cost of Co-viability in the Australian Northern Prawn Fishery

Fisheries management must address multiple, often conflicting objectives in a highly uncertain context. In particular, while the bio-economic performance of trawl fisheries is subject to high levels of biological and economic uncertainty, the impact of trawling on broader biodiversity is also a major concern for their management. The purpose of this study is to propose an analytical framework to formally assess the trade-offs associated with balancing biological, economic and non-target species conservation objectives. We use the Australian Northern Prawn Fishery (NPF), which is one of the most valuable federally managed commercial fisheries in Australia, as a case study. We develop a stochastic co-viability assessment of the fishery under multiple management objectives. Results show that, due to the variability in the interactions between the fishery and the ecosystem, current management strategies are characterized by biological and economic risks. Results highlight the trade-offs between respecting biological, economic and non-target species conservation constraints at each point in time with a high probability and maximizing the net present value of the fishery.

Regenerative Stormwater Conveyance: Design Implications of an Urban Case Demonstration in Baltimore, Maryland

This research-design thesis explores the implementation of Regenerative Stormwater Conveyance (RSC) as a retrofit of an existing impervious drainage system in a small catchment in the degraded Jones Falls watershed in Baltimore City. An introduction to RSC is provided, placing its development within a theoretical context of novel ecosystems, biomimicry and Nassauer and Opdam’s (2008) model of landscape innovation. The case site is in Baltimore’s Hampden neighborhood on City-owned land adjacent to rowhomes, open space and an access point to a popular wooded trail along a local stream. The design proposal employs RSC to retrofit an ill-performing stormwater system, simultaneously providing a range of ecological, social and economic services; water quantity, water quality and economic performance of the proposed RSC are quantified. While the proposed design is site-specific the model is adaptable for retrofitting other small-scale impervious drainage systems, providing a strategic tool in addressing Baltimore City’s stormwater challenges.

Transition to Product Service Systems: methodology based on scenarios identification, modelling and evaluation

Part 4: Transition Towards Product-Service Systems

Impacto del uso de los sistemas de alimentación a corral como estrategia para el engorde de bovinos para carne

El confinamiento estratégico de los bovinos Argentina es una herramienta muy útil para lograr la terminación de animales destinados al consumo interno y a la exportación. La utilidad de estos encierres consiste permitir un mejor aprovechamiento del forraje y reduciendo la edad a la faena. Para su aplicación es necesario considerar los factores que afectan su resultado económico tales como la característica de las dietas utilizadas, los niveles de consumo y la eficiencia de conversión. Esto interactúa a su vez con el tipo de animal a encerrar. Son dos los sistemas de confinamiento estratégico que van a ser considerados en esta presentación: los corrales de engorde o terminación y los de recría o engorde de los terneros posdete. La actividad del engorde a corral durante los últimos años, ha estado ligada a variaciones operadas en el precio del grano y del tipo de producto logrado. Hay variaciones atribuidas al cambio en las preferencias del consumidor y también al efecto de la concentración de las ventas de carne en determinadas bocas de expendio que exigen uniformidad en la entrega de animales y del tamaño de los cortes. Se comentan entonces algunos aspectos relevantes del engorde a corral americano y de los engordes a corral en Argentina, además de algunos factores que pueden afectar el resultado económico de la actividad. En cuanto al corral de recría, tiene como objetivo la mejora de la ganancia de peso durante esta etapa frente a condiciones de recría a pasto donde pueden existir limitantes en la cantidad y calidad del forraje producido. En esta presentación se hace el comentario y el análisis de los factores a tener en cuenta en los dos tipos de manejo de los animales a corral: los de terminación o engorde final y los de recría o engorde de terneros después del destete. En el primer caso, los efectos del sexo, la edad, la eficiencia de conversión, la raza, el estado nutricional previo, así como factores de la dieta en si mismo. En el segundo caso se analizan sobre todo los distintos tipos de terneros que pueden incorporar al sistema, así como el uso de diferentes dietas. El desarrollo de los encierres de terneros permitió diseñar nuevos sistemas de producción basados en un aumento de la carga, de la ganancia de peso, la modificación del peso final y los posibles cambios en el momento de terminación. En el caso de los corrales de terminación, han sido una herramienta muy útil para lograr la terminación de animales destinados al consumo interno como exportación.

Plantas y sustancias tóxicas para el ganado

Las pérdidas económicas ocasionadas por las intoxicaciones vegetales son muy difíciles de cuantificar, fundamentalmente porque son muy diversos los mecanismos de acción y las manifestaciones de toxicidad. Estas pueden producir graves mortandades en forma súbita, mermas en los índices reproductivos, malformaciones congénitas, merma en la ganancia o directamente pérdida de peso. No obstante a pesar de la dificultad en la evaluación, es muy claro que el efecto de las intoxicaciones repercute fuertemente en el resultado económico de los productores de carne. El objetivo de esta presentación es aportar información tendiente a facilitar el reconocimiento de las plantas tóxicas por parte del productor, y dar armas al Veterinario para diagnosticar en forma certera las intoxicaciones mediante el conocimiento de las alteraciones clínicas, parámetros bioquímicos y lesiones macroscópicas observables a la necropsia.

The contribution of the entrepreneurial orientation to SMEs profitability: a contingent analysis that considers the environment role

This paper aims first to show the effect of the Entrepreneurial Orientation (EO) on SMEs financial performance, and second, to propose a contingency model which explores the moderating effects of environmental hostility of the relationship EO –financial performance -- To examine the research hypotheses, a sample of 121 manufacturing SMEs located in Catalonia, Spain has been used -- The results confirm a positive EO-financial performance relation, and suggest that a more positive relation exists when there is an adjustment between the EO and the environment -- Finally, the academic and entrepreneurial implications related to the EO and the SMEs environment are presented and discussed

Defining efficient policies in a general equilibrium model: a multi-objective approach

Macroeconomic policy makers are typically concerned with several indicators of economic performance. We thus propose to tackle the design of macroeconomic policy using Multicriteria Decision Making (MCDM) techniques. More specifically, we employ Multiobjective Programming (MP) to seek so-called efficient policies. The MP approach is combined with a computable general equilibrium (CGE) model. We chose use of a CGE model since they have the dual advantage of being consistent with standard economic theory while allowing one to measure the effect(s) of a specific policy with real data. Applying the proposed methodology to Spain (via the 1995 Social Accounting Matrix) we first quantified the trade-offs between two specific policy objectives: growth and inflation, when designing fiscal policy. We then constructed a frontier of efficient policies involving real growth and inflation. In doing so, we found that policy in 1995 Spain displayed some degree of inefficiency with respect to these two policy objectives. We then offer two sets of policy recommendations that, ostensibly, could have helped Spain at the time. The first deals with efficiency independent of the importance given to both growth and inflation by policy makers (we label this set: general policy recommendations). A second set depends on which policy objective is seen as more important by policy makers: increasing growth or controlling inflation (we label this one: objective-specific recommendations).