Multimarket contact externalities: the effect of rival's multimarket contacts on focal firm performance

Given that firms develop their activities in a network of multiple players, interfirm rivalry is not only a matter of direct competitors, but also of indirect competition. In spite of this, the literature on competitive dynamics tends to focus on analyzing rivalry as an exclusive function of the competitive relationship between a focal firm and its direct rivals. In this article, we extend competitive dynamics literature by considering how focal firms are affected by the relationships of their rivals with third-party firms. Specifically, we study the effect that the multimarket contacts of rivals produces on the performance of the focal firm. Additionally, we incorporate the idea that there are different strategic options for operating in an industry that affect the intensity of multimarket contact externalities. Our results show that multimarket contact among firms causes externalities that indirectly affect firms that are not directly involved in this competitive relationship. We find that multimarket contact externalities differ between and within strategic groups.

Market rewards to patterns on increasing earnings: do cash flow patterns, accruals manipulation and real activities manipulation matter?

This study explores whether firms have differential price-earnings multiples associated with their means of achieving a sequential pattern of increasing positive earnings. Our main findings show that market participants assign higher price-earnings multiples to firms when their pattern of increasing earnings is supported by the same pattern of increasing cash flows. Market participants assign lower price-earnings multiples to firms suspect of having engaged in accrual-based earnings management, sales manipulation, and overproduction to achieve the earnings pattern. We find, however, that market participants do not penalize firms suspect of having achieved the earnings pattern through the opportunistic reduction of discretionary expenses.

Validation française de l'échelle d'expérience temporelle du plaisir [Validation of the Temporal Experience of Pleasure Scale (TEPS) in a French-speaking environment.]

INTRODUCTION: Anhedonia is defined as a diminished capacity to experience pleasant emotion and is commonly included among the negative symptoms of schizophrenia. However, if patients report experiencing a lower level of pleasure than controls, they report experiencing as much pleasure as controls with online measurements of emotion. OBJECTIVE: The Temporal Experience of Pleasure Scale (TEPS) measures pleasure experienced in the moment and in anticipation of future activities. The TEPS is an 18-item self-report measurement of anticipatory (10 items) and consummatory (eight items) pleasure. The goal of this paper is to assess the psychometric characteristics of the French translation of this scale. METHODS: A control sample was composed of 60 women and 22 men, with a mean age of 38.1 years (S.D.: 10.8). Thirty-six were without qualification and 46 with qualified professional diploma. A sample of 21 patients meeting DSM IV-TR criteria for schizophrenia was recruited among the community psychiatry service of the department of psychiatry in Lausanne. They were five women and 16 men; mean age was of 34.1 years (S.D.: 7.5). Ten obtained a professional qualification and 11 were without qualification. None worked in competitive employment. Their mean dose of chlorpromazine equivalent was 431mg (S.D.: 259). All patients were on atypical antipsychotics. The control sample fulfilled the TEPS and the Physical Anhedonia Scale (PAS). The patient sample fulfilled the TEPS and was independently rated on the Calgary Depression Scale and the Scale for Assessment of Negative Symptoms. For comparison with controls, patients were matched on age, sex and professional qualification. This required the supplementary recruitment of two control subjects. RESULTS: Results with the control sample indicate that the TEPS presents an acceptable internal validity with Crombach alphas of 0.84 for the total scale, 0.74 for the anticipatory pleasure scale and 0.79 for the consummatory pleasure scale. The confirmatory factor analysis indicated that the model is well adapted to our data (chi(2)/dl=1.333; df=134; p<0.0006; root mean square residual, RMSEA=0.064). External validity measured with the PAS showed R=-0.27 (p<0.05) for the consummatory scale and R=-0.26 for the total score. Comparisons between patients and matched controls indicated that patients were significantly lower than control on anticipatory pleasure (t=2.7, df(40), 2-tailed p=0.01; cohen's d=0.83) and on total score of the TEPS (t=2.8, df (40), 2-tailed p=0.01; cohen's d=0.87). The two samples did not differ on consummatory pleasure. The anticipatory pleasure factor and the total TEPS showed significant negative correlation with the SANS anhedonia, respectively R=-0.78 (p<0.01) for the anticipatory factor and R=-0.61 (p<0.01) for the total TEPS. There was also a negative correlation between the anticipatory factor and the SANS avolition of R=-0.50 (p<0.05). These correlations were maintained, with partial correlations controlling for depression and chlorpromazine equivalents. CONCLUSION: The results of this validation show that the French version of the TEPS has psychometric characteristics similar to the original version. These results highlight the discrepancy between results of direct or indirect report of experienced pleasure in patients with schizophrenia. Patients may have difficulties in anticipating the pleasure of future enjoyable activities, but not in experiencing pleasure once in an enjoyable activity. Medication and depression do not seems to modify our results, but this should be better controlled in a longitudinal study. The anticipatory versus consummatory pleasure distinction appears to be useful for the development of new psychosocial interventions, tailored to improve desire in patients suffering from schizophrenia. Major limitations of the study are the small size of patient sample and the under representation of men in the control sample.

Bilinear models for spatio-temporal point distribution analysis: application to extrapolation of left ventricular, biventricular and whole heart cardiac dynamics

In this work we describe the usage of bilinear statistical models as a means of factoring the shape variability into two components attributed to inter-subject variation and to the intrinsic dynamics of the human heart. We show that it is feasible to reconstruct the shape of the heart at discrete points in the cardiac cycle. Provided we are given a small number of shape instances representing the same heart atdifferent points in the same cycle, we can use the bilinearmodel to establish this. Using a temporal and a spatial alignment step in the preprocessing of the shapes, around half of the reconstruction errors were on the order of the axial image resolution of 2 mm, and over 90% was within 3.5 mm. From this, weconclude that the dynamics were indeed separated from theinter-subject variability in our dataset.

Temporal diffeomorphic free-form deformation: application to motion and strain estimation from 3D echocardiography

This paper presents a new registration algorithm, called Temporal Di eomorphic Free Form Deformation (TDFFD), and its application to motion and strain quanti cation from a sequence of 3D ultrasound (US) images. The originality of our approach resides in enforcing time consistency by representing the 4D velocity eld as the sum of continuous spatiotemporal B-Spline kernels. The spatiotemporal displacement eld is then recovered through forward Eulerian integration of the non-stationary velocity eld. The strain tensor iscomputed locally using the spatial derivatives of the reconstructed displacement eld. The energy functional considered in this paper weighs two terms: the image similarity and a regularization term. The image similarity metric is the sum of squared di erences between the intensities of each frame and a reference one. Any frame in the sequence can be chosen as reference. The regularization term is based on theincompressibility of myocardial tissue. TDFFD was compared to pairwise 3D FFD and 3D+t FFD, bothon displacement and velocity elds, on a set of synthetic 3D US images with di erent noise levels. TDFFDshowed increased robustness to noise compared to these two state-of-the-art algorithms. TDFFD also proved to be more resistant to a reduced temporal resolution when decimating this synthetic sequence. Finally, this synthetic dataset was used to determine optimal settings of the TDFFD algorithm. Subsequently, TDFFDwas applied to a database of cardiac 3D US images of the left ventricle acquired from 9 healthy volunteers and 13 patients treated by Cardiac Resynchronization Therapy (CRT). On healthy cases, uniform strain patterns were observed over all myocardial segments, as physiologically expected. On all CRT patients, theimprovement in synchrony of regional longitudinal strain correlated with CRT clinical outcome as quanti ed by the reduction of end-systolic left ventricular volume at follow-up (6 and 12 months), showing the potential of the proposed algorithm for the assessment of CRT.

Reusing IMS-LD formalized best practices in collaborative learning structuring

Designs of CSCL (Computer Supported Collaborative Learning)activities should be flexible, effective and customizable toparticular learning situations. On the other hand, structureddesigns aim to create favourable conditions for learning. Thus,this paper proposes the collection of representative and broadlyaccepted (best practices) structuring techniques in collaborative learning. With the aim of establishing a conceptual common ground among collaborative learning practitioners and softwaredevelopers, and reusing the expertise that best practicesrepresent, the paper also proposes the formulation of these techniques as patterns: the so-called CLFPs (CollaborativeLearning Flow Patterns). To formalize these patterns, we havechosen the educational modelling language IMS Learning Design (IMS-LD). IMS-LD has the capability to specify many of the collaborative characteristics of the CLFPs. Nevertheless, the language bears limited capability for describing the services that mediate interactions within a learning activity and the specification of temporal or rotated roles. This analysis isdiscussed in the paper, as well as our approaches towards thedevelopment of a system capable of integrating tools using IMSLDscripts and a CLFP-based Learning Design authoring tool.

Chronic deep brain stimulation in mesial temporal lobe epilepsy.

The objective of this study was to evaluate the efficiency and the effects of changes in parameters of chronic amygdala-hippocampal deep brain stimulation (AH-DBS) in mesial temporal lobe epilepsy (TLE). Eight pharmacoresistant patients, not candidates for ablative surgery, received chronic AH-DBS (130 Hz, follow-up 12-24 months): two patients with hippocampal sclerosis (HS) and six patients with non-lesional mesial TLE (NLES). The effects of stepwise increases in intensity (0-Off to 2 V) and stimulation configuration (quadripolar and bipolar), on seizure frequency and neuropsychological performance were studied. The two HS patients obtained a significant decrease (65-75%) in seizure frequency with high voltage bipolar DBS (≥1 V) or with quadripolar stimulation. Two out of six NLES patients became seizure-free, one of them without stimulation, suggesting a microlesional effect. Two NLES patients experienced reductions of seizure frequency (65-70%), whereas the remaining two showed no significant seizure reduction. Neuropsychological evaluations showed reversible memory impairments in two patients under strong stimulation only. AH-DBS showed long-term efficiency in most of the TLE patients. It is a valuable treatment option for patients who suffer from drug resistant epilepsy and who are not candidates for resective surgery. The effects of changes in the stimulation parameters suggest that a large zone of stimulation would be required in HS patients, while a limited zone of stimulation or even a microlesional effect could be sufficient in NLES patients, for whom the importance of the proximity of the electrode to the epileptogenic zone remains to be studied. Further studies are required to ascertain these latter observations.

Does locally delivered Zoledronate influence peri-implant bone formation? - Spatio-temporal monitoring of bone remodeling in vivo.

Bisphosphonates are known for their strong inhibitory effect on bone resorption. Their influence on bone formation however is less clear. In this study we investigated the spatio-temporal effect of locally delivered Zoledronate on peri-implant bone formation and resorption in an ovariectomized rat femoral model. A cross-linked hyaluronic acid hydrogel was loaded with the drug and applied bilaterally in predrilled holes before inserting polymer screws. Static and dynamic bone parameters were analyzed based on in vivo microCT scans performed first weekly and then biweekly. The results showed that the locally released Zoledronate boosted bone formation rate up to 100% during the first 17 days after implantation and reduced the bone resorption rate up to 1000% later on. This shift in bone remodeling resulted in an increase in bone volume fraction (BV/TV) by 300% close to the screw and 100% further away. The double effect on bone formation and resorption indicates a great potential of Zoledronate-loaded hydrogel for enhancement of peri-implant bone volume which is directly linked to improved implant fixation.

Metodologia del treball en neologia: criteris, materials i processos

L'Observatori de Neologia, dirigit per la Dra. M. Teresa Cabré, neix com a grup de recerca l'any 1988 a la Universitat de Barcelona i des de 1994 s'incorpora com a projecte a l'Institut Universitari de Lingüística Aplicada de la Universitat Pompeu Fabra. L'Observatori de Neologia analitza el fenomen de l'aparició de paraules noves o neologismes en l'ús, tant pel que fa al català com al castellà. Actualment compta amb una base de dades de més de 82.000 ocurrències per al català i de més de 60.000 ocurrències per al castellà procedents de textos escrits i orals de mitjans de comunicació.Aquest volum recull la metodologia establerta des de l’inici del projecte pels membres fundadors de l’Observatori de Neologia - tot i que revisada i actualitzada al llarg dels anys. Aquesta metodologia guia tots els treballs de detecció, selecció, tractament i emmagatzemament de les dades que es duen a terme a l’Observatori.

EducME: una aproximació a un entorn de treball complet mitjançant Moodle i eyeOS

En aquest projecte es presenta la solució aportada per combinar un entorn virtual d'aprenentatge com Moodle i un escriptori virtual com EyeOs. La solució anomenada educME (educació, Moodle i EyeOS) es basa en el desenvolupament d'una aplicació dins de l'escriptori virtual que doni accéss a Moodle.EducME està basat en el patró de comportament Strategy. S'ha combinat la interfície web original de Moodle amb la nova interfície basada en Qooxdoo. D'aquesta manera, es desenvolupa la aplicació de forma progressiva, sent funcional des del principi. Es completa la comunicació de les dues aplicacions principals mitjançant l'ús dels Web Services. A més a més, s'ha desenvolupat un sistema automàtic d'identificació a través de l'escriptori virtual, que allibera de feina extra tant l'usuari final, com a l'administrador principal de Moodle.Finalment, s'ha registrat la aplicació sota la llicència GNU GPL, s'ha publicat el codi font al Google Code, i s'ha realitzat una web i una demo públiques per que la comunitat pugui conèixer i provar la aplicació.

X-Munich : cas pràctic

Berneda S.A. és una “pime” familiar catalana no cotitzada que es va fundar l’any 1939. També coneguda per ser l’empresa posseïdora de la marca X-Munich, destaca per la seva capacitat d’autofinançament.Al llarg de la seva història Berneda S.A. ha sabut guanyar-se el mercat en diverses etapes i, tot i haver viscut períodes de menys facturació, des de l’any 2007 ha gaudit d’un boom de les seves vendes al mercat espanyol. Part d’aquest creixement del volum de vendes i ingressos està relacionat també amb la seva capacitat exportadors: actualment les seves sabatilles esportives es comercialitzen, entre d’altres, a Itàlia, Holanda, Japó, Gran Bretanya i Portugal.Berneda S.A. ha aprofitat el seu avantatge competitiu, la diferenciació, per a oferir al mercat un producte diferent i posicionar-se com a una marca de referencia en el sector.

KH-7

El trabajo que presentamos a continuación analiza la situación de la empresa KH Lloreda en el mercado de productos desengrasantes. Concretamente hemos profundizado en la estrategia de márketing utilizada en la empresa a la hora de lanzar su producto KH-7.Decidimos elegir la empresa KH Lloreda y más concretamente el producto KH-7 porque nos llamó la atención que un producto destinado al uso diario de la limpieza del hogar hubiera tenido tanto éxito. ¿Cuál es la característica innovadora que hace que la gente prefiera este producto? Otro factor que también ha sido decisivo a la hora de elegir la empresa es la evolución de la compañía. Una empresa catalana de origen familiar ha logrado hacerse un hueco en el mercado y, en determinados sectores, ha logrado superar a grandes multinacionales. por esto hemos aprovechado esta ocasión para estudiar las estrategias que ha utilizado la empresa y más importante aún cómo las ha implementado para llegar hasta donde está ahora.El trabajo está estructurado en cuatro grandes partes. La primera trata de analizar los factores que pueden tener un impacto en la actividad de la empresa, tanto a nivel externo como dentro de la compañía.En la segunda hemos estudiado la estrategia que ha seguido la empresa al lanzar su producto KH-7, qué decisiones ha tomado, qué factores ha resaltado, de qué cosas han prescindido...La tercera comprende el análisis del apartado de márketing. Cómo ha dado a conocer la empresa el producto y cómo ha conseguido que los clientes se decanten por su producto antes que el de la competencia.Y por último, la cuarta parte del trabajo consiste en las conclusiones, analiza los resultados que hemos obtenido al estudiar cada una de las partes anteriores.por último creemos que es importante explicar brevemente qué esperamos obtener nosotros de la realización de este proyecto. Creemos que lo más importante que podemos aprender de él es que no sólo triunfan las grandes marcas y las grandes multinacionales con presencia mundial. Si se encuentra una buena idea de negocio, que normalmente viene dada por un hueco en el mercado, y se desarrolla una política empresarial coherente con el nuevo producto, las posibilidades de tener éxito en el mercado son muy elevadas, y con este trabajo intentamos demostrarlo.

Aquarius

Aquarius es una bebida isotónica, especialmente fabricada para los deportistas, perteneciente a The Coca-Cola Company. Se comercializó por primera vez en 1983 en Japón como una respuesta a la bebida deportiva llamada Pocari Sweat; pero el lanzamiento no tuvo éxito.Así pues, en 1991 Aquarius es lanzado en España y Portugal como un producto técnico asociado al deporte. su lanzamiento en el mercado español creó una pequeña revolución en el sector de las bebidas comerciales y, en 1992, Aquarius se convirtió en la bebida oficial de los Juegos Olímpicos de Barcelona. Poco a poco, el producto pasó a ser concebido no sólo com bebida isitónica, sino también como un refresco. Es por eso que en 2005 la empresa decide renovar la imagen de la marca, los envases del producto y lanzar otros sabores para que se adecuen a las nuevas necesidades del consumidor.Aquarius es la marca estrella de "Coca-Cola España", ninguna otra le hace sombra en cuanto a crecimiento. Cuenta con un 75% de cuota de mercado y supone el 70% de las ventas del producto a nivel internacional. Con este éxito, la compañía queríaanzar el producto en otros países europeos como Bélgica y Holanda, aunque sin tanto éxito como en España.Sus principales competidoras a nivel de bebidas isotónicas en España son las marcas blancas con un 27% de cuota de mercado u otras con menos peso como Powerade con un 3% de cuota (también de "The Coca-Cola Company").En el mercado de las "softs drinks" Aquarius sufrió un ascenso increible con su campaña publicitaria: "La Era Aquarius", consiguiendo en la actualidad representar el 30% de las ventas de Coca-Cola en este sector. Sus principales competidores son el Grupo Danone o Pepsi que tienen también altas cuotas de mercado

Red Bull

The aim of this project is to analyze the Red Bull company in order to find out its major potentialities and weaknesses using the concepts and tools learnt in the subject "Dirección Comercial I". To this end we have focused our attention in the Red Bull classic drink, so as to see how the enterprise has positioned its product in the market and the implications it has had.