The value of innovation:the interaction of competition, R&D and IP

This paper analyses market valuations of UK companies using a new data set of their R&D and IP activities (1989–2002). In contrast to previous studies, the analysis is conducted at the sectoral-level, where the sectors are based on the technological classification originating from Pavitt [Pavitt, K., 1984. Sectoral patterns of technical change. Research Policy 13, 343–373]. The first main result is that the valuation of R&D varies substantially across these sectors. Another important result is that, on average, firms that receive only UK patents tend to have no significant market premium. In direct contrast, patenting through the European Patent Office does raise market value, as does the registration of trade marks in the UK for most sectors. To explore these variations the paper links competitive conditions with the market valuation of innovation. Using profit persistence as a measure of competitive pressure, we find that the sectors that are the most competitive have the lowest market valuation of R&D. Furthermore, within the most competitive sector (‘science based’ manufacturing), firms with larger market shares (an inverse indicator of competitive pressure) also have higher R&D valuations, as well as some positive return to UK patents. We conclude that this evidence supports Schumpeter by finding higher returns to innovation in less than fully competitive markets and contradicts Arrow [Arrow, K., 1962. Economic welfare and the allocation of resources for invention. In: Nelson, R. (Ed.), The Rate and Direction of Inventive Activity. Princeton University Press, Princeton], who argued that, with the existence of IP rights, competitive market structure provides higher incentives to innovate.

What are tests for? The implications of stuttering steps along the patient pathway

This article explores the implications of how US family physicians make decisions about ordering diagnostic tests for their patients. Data is based on a study of 256 physicians interviewed after viewing a video vignette of a presenting patient. The qualitative analysis of 778 statements relating to trustworthiness of evidence for their decision making, the use of any kind of technology and diagnostic testing suggests a range of internal and external constraints on physician decision making. Test-ordering for family physicians in the United States is significantly influenced by both hidden cognitive processes related to the physician's calculation of patient resources and a health insurance system that requires certain types of evidence in order to permit further tests or particular interventions. The consequence of the need for physicians to meet multiple forms of proof that may not always relate to relevant treatment delays a diagnosis and treatment plan agreed not only by the physician and patient but also the insurance company. This results in a patient journey that is made up of stuttering steps to a confirmed diagnosis and treatment undermining patient-centred practice, compromising patient care, constraining physician autonomy and creating additional expense. © 2014 Elsevier Ltd.

Logistics Innovation in Small 3PLs:what is the Role of ICT?

For companies competing in highly dynamic markets, the search for new sources of competitive advantages is mandatory. Innovation is considered a fundamental component of a successful business as it allows companies to sustain profit margins and sales growth and to reduce pressures coming from competitors. In the knowledge-driven economy, information and communication technology (ICT) plays an important role as it enables innovation in product/service, processes and organisations especially in service companies. This paper investigates the role of ICT in logistics innovation. The focus of the paper is on the effects that ICT usage is having on the management of small third-party logistics service providers (3PLs). On the basis of quantitative and qualitative evidence emerging from a recent survey carried out on the Italian logistic service market, the paper analyses how ICT is used to support logistics innovation and the factors inhibiting/facilitate the usage of ICT in such companies. Implications for logistics innovation management will be outlined from both research and managerial perspectives.

Founders' human capital and the performance of UK new technology based firms

This paper investigates the role of entrepreneurs' general and specific human capital on the performance of UK new technology based firms using a resource based approach to the entrepreneurship theory. The effect of entrepreneurial human capital on the performance of NTBFs is investigated using data derived from a survey of 412 firms operating in both high-tech manufacturing and the services sectors. According to the resource based theory it is found that specific human capital is more important for the performance of NTBFs in relation to general. More specifically individual entrepreneurs or entrepreneurial teams with high levels of formal business education, commercial, managerial or same sector experience are found to have created better performing NTBFs. Finally it is found that the performance of a NTBF can improve through the combination of heterogeneous but complementary skills, including, for example, technical education and commercial experience or managerial technical and managerial commercial experience. © 2010 Springer Science+Business Media, LLC.

Cardiocentric neurophysiology:the persistence of a delusion

Aristotle is well known to have taught that the brain was a mere coolant apparatus for overheated blood and to have located the hegemonikon in the heart. This teaching was hotly disputed by his immediate successors in the Alexandrian Museum, who showed that the brain played the central role in psychophysiology. This was accepted and developed by the last great biomedical figure of classical antiquity - Claudius Galen. However, Aristotle's cardiocentric theory did not entirely disappear and this article traces its influence through the Arabic physicians of the Islamic ascendancy, into the European Middle Ages where Albertus Magnus' attempt to reconcile cardiocentric and cerebrocentric physiology was particularly influential. It shows how cardiocentricity was sufficiently accepted to attract the attention of, and require refutation by, many of the great names of the Renaissance, including Vesalius, Fernel, and Descartes, and was still taken seriously by luminaries such as William Harvey in the mid-seventeenth century. The article, in rehearsing this history, shows the difficulty of separating the first-person perspective of introspective psychology and the third-person perspective of natural science. It also outlines an interesting case of conflict between philosophy and physiology. © 2013 Copyright Taylor & Francis Group, LLC.

The Notion of Model in Software Engineering

Милослав A. Средков - Понятията модел и моделиране се използват толкова интензивно в много дисциплини, че е трудно да им се придаде конретно значение. Дори в Софтуерните технологии, разбирането на тези понятия силно зависи от контекста. Ние смятаме, че това допринася за неконсистентността между подходите за моделиране там. В тази статия посочваме някои от произтичащите проблеми, както и важността да има подходяща дефиниция, съчетана с подходящи инструменти. Преглеждаме по-общите дефиниции на модел отвъд границите на Софтуерните технологии. Минаваме през моделирането на различни вторични продукти на процесите от Софтуерните технологии. Накрая представяме нашата визия относно използването на такава обща основа за наша полза.

Investigating the ability of antibodies to recognize specific oxidized protein epitopes

There is a growing awareness that inflammatory diseases have an oxidative pathology, which can result in specific oxidation of amino acids within proteins. Antibody-based techniques for detecting oxidative posttranslational modifications (oxPTMs) are often used to identify the level of protein oxidation. There are many commercially available antibodies but some uncertainty to the potential level of cross reactivity they exhibit; moreover little information regarding the specific target epitopes is available. The aim of this work was to investigate the potential of antibodies to distinguish between select peptides with and without oxPTMs. Two peptides, one containing chlorotyrosine (DY-Cl-EDQQKQLC) and the other an unmodified tyrosine (DYEDQQKQLC) were synthesized and complementary anti-sera were produced in sheep using standard procedures. The anti-sera were tested using a half-sandwich ELISA and the anti-serum raised against the chloro-tyrosine containing peptide showed increased binding to the chlorinated peptide, whereas the control anti-serum bound similarly to both peptides. This suggested that antibodies can discriminate between similar peptide sequences with and without an oxidative modification. A peptide (STSYGTGC) and its variants with chlorotyrosine or nitrotyrosine were produced. The anti-sera showed substantially less binding to these alternative peptides than to the original peptides the anti-sera were produced against. Work is ongoing to test commercially available antibodies against the synthetic peptides as a comparison to the anti-sera produced in sheep. In conclusion, the antisera were able to distinguish between oxidatively modified and unmodified peptides, and two different sequences around the modification site.

Anatomy and lessons of the global financial crisis. Is US consumption financed by Chinese savings?

Savings and investments in the American money market by emerging countries, primarily China, financed the excessive consumption of the United States in the early 2000s, which indirectly led to a global financial crisis. The crisis started from the real estate mortgage market. Such balance disrupting processes began on the American financial market which contradicted all previously known equilibrium theories of every school of economics. Economics has yet to come up with models or empirical theories for this new disequilibrium. This is why the outbreak of the crisis could not be prevented or at least predicted. The question is, to what extent can existing market theories, calculation methods and the latest financial products be held responsible for the new situation. This paper studies the influence of the efficient market and modern portfolio theory, as well as Li’s copula function on the American investment market. Naturally, the issues of moral risks and greed, credit ratings and shareholder control, limited liability and market regulations are aspects, which cannot be ignored. In summary, the author outlines the potential alternative measures that could be applied to prevent a new crisis, defines the new directions of economic research and draws the conclusion for the Hungarian economic policy.

Climatic effects on the phenology of geophytes

Nowadays, the scientific and social significance of the research of climatic effects has become outstanding. In order to be able to predict the ecological effects of the global climate change, it is necessary to study monitoring databases of the past and explore connections. For the case study mentioned in the title, historical weather data series from the Hungarian Meteorological Service and Szaniszló Priszter’s monitoring data on the phenology of geophytes have been used. These data describe on which days the observed geophytes budded, were blooming and withered. In our research we have found that the classification of the observed years according to phenological events and the classification of those according to the frequency distribution of meteorological parameters show similar patterns, and the one variable group is suitable for explaining the pattern shown by the other one. Furthermore, our important result is that the dates of all three observed phenophases correlate significantly with the average of the daily temperature fluctuation in the given period. The second most often significant parameter is the number of frosty days, this also seem to be determinant for all phenophases. Usual approaches based on the temperature sum and the average temperature don’t seem to be really important in this respect. According to the results of the research, it has turned out that the phenology of geophytes can be well modelled with the linear combination of suitable meteorological parameters

Consequences of interorganizational information systems: An empirical investigation of the effects of EDI use on interorganizational relationships in the retail industry

This dissertation examines the consequences of Electronic Data Interchange (EDI) use on interorganizational relations (IR) in the retail industry. EDI is a type of interorganizational information system that facilitates the exchange of business documents in structured, machine processable form. The research model links EDI use and three IR dimensions--structural, behavioral, and outcome. Based on relevant literature from organizational theory and marketing channels, fourteen hypotheses were proposed for the relationships among EDI use and the three IR dimensions.^ Data were collected through self-administered questionnaires from key informants in 97 retail companies (19% response rate). The hypotheses were tested using multiple regression analysis. The analysis supports the following hypothesis: (a) EDI use is positively related to information intensity and formalization, (b) formalization is positively related to cooperation, (c) information intensity is positively related to cooperation, (d) conflict is negatively related to performance and satisfaction, (e) cooperation is positively related to performance, and (f) performance is positively related to satisfaction. The results support the general premise of the model that the relationship between EDI use and satisfaction among channel members has to be viewed within an interorganizational context.^ Research on EDI is still in a nascent stage. By identifying and testing relevant interorganizational variables, this study offers insights for practitioners managing boundary-spanning activities in organizations using or planning to use EDI. Further, the thesis provides avenues for future research aimed at understanding the consequences of this interorganizational information technology. ^

The effects of a sound-modified environment on physiological variables in premature infants in neonatal intensive care

This study investigated the effects of sound reduction on physiological variables in premature infants in neonatal intensive care. Ten premature infants born between 27 and 36 weeks gestation wore a specially designed earmuff cap for a 45-minute rest period. Heart rate, respiration rate, oxygen saturation level and behavioral state were measured and compared to a similar 45-minute control period without the earmuff cap. Subjects showed a significant decrease (p =.050) in mean respiration rate, and a significant increase (p $<$.02) in mean oxygen saturation level with the earmuff cap on. No significant differences were found in heart rate between the experimental condition and the control condition. Behavioral state was documented only as a potentially confounding variable, however a significant decrease (p $<$.05) in the time spent awake and a significant increase (p $<$.05) in the time spent in quiet sleep rather than active sleep occurred with the earmuff cap on. Findings suggest that noise reduction may be a viable means of increasing respiratory efficiency and the amount and quality of sleep in premature infants in neonatal intensive care.

A comparison of the effects of social constructivist and traditional approaches to teaching on students' attitude and achievement in high school chemistry

Current views of the nature of knowledge and of learning suggest that instructional approaches in science education pay closer attention to how students learn rather than on teaching. This study examined the use of approaches to teaching science based on two contrasting perspectives in learning, social constructivist and traditional, and the effects they have on students' attitudes and achievement. Four categories of attitudes were measured using the Upper Secondary Attitude Questionnaire: Attitude towards school, towards the importance of science, towards science as a career, and towards science as a subject in school. Achievement was measured by average class grades and also with a researcher/teacher constructed 30-item test that involved three sub-scales of items based on knowledge, and applications involving near-transfer and far-transfer of concepts. The sample consisted of 202 students in nine intact classrooms in chemistry at a large high school in Miami, Florida, and involved two teachers. Results were analyzed using a two-way analysis of covariance (ANCOVA) with a pretest in attitude as the covariate for attitudes and prior achievement as the covariate for achievement. A comparison of the adjusted mean scores was made between the two groups and between females and males. ^ With constructivist-based teaching, students showed more favorable attitude towards science as a subject, obtained significantly higher scores in class achievement, total achievement and achievement on the knowledge sub-scale of the knowledge and application test. Students in the traditional group showed more favorable attitude towards school. Females showed significantly more positive attitude towards the importance of science and obtained significantly higher scores in class achievement. No significant interaction effects were obtained for method of instruction by gender. ^ This study lends some support to the view that constructivist-based approaches to teaching science is a viable alternative to traditional modes of teaching. It is suggested that in science education, more consideration be given to those aspects of classroom teaching that foster closer coordination between social influences and individual learning. ^

The role of disturbance and resource availability in structuring plant communities

Disturbances alter competitive hierarchies by reducing populations and altering resource regimes. The interaction between disturbance and resource availability may strongly influence the structure of plant communities, as observed in the recolonization of seagrass beds in outer Florida Bay that were denuded by sea-urchin overgrazing. There is no consensus concerning the interaction between disturbance and resource availability on competition intensity (CI). On the other hand, species diversity is dependent on both factors. Peaks in species diversity have been observed to occur when both resource availability and disturbance intensity are high, thus implying that CI is low. Based on this supposition of previous models, I presented the resource-disturbance hypothesis as a graphical model to make predictions of CI as a function of both disturbance intensity and the availability of a limiting resource. The predictions of this model were tested in two experiments within a seagrass community in south Florida, in which transplants of Halodule wrightii were placed into near-monocultures of Syringodium filiforme in a full-factorial array. In the first experiment, two measures of relative CI were calculated based on the changes in the short-shoot number (SS) and of rhizome length (RHL) on the transplants. Both light and disturbance were identified as important factors, though the interaction between light * disturbance was not significant. Relative CISS ranged between 0.2 and 1.0 for the high light and high disturbance treatments and the relative CIRHL < 0 for the same treatments, though results were not significantly different due to high variability and low sample size. These results, including a contour schematic using six data points from the different treatment combinations, preliminarily suggests that the resource-disturbance hypothesis may be used may be used as a next step in developing our understanding of the mechanisms involved in structuring plant communities. Furthermore, the focus of the model is on the outcome of CI, which may be a useful predictor of changes in species diversity. Further study is needed to confirm the results of this study and validate the usefulness of this model in other systems. ^

State legislative term limits and the law of unintended consequences: An examination of member behavior, power structures, and legislative organization in Florida

The implementation of term limits on state legislators has provided a wealth of data for study. Florida, the second largest state in the Union with term limits, has not been comprehensively studied. This research examines the effects of term limits on electoral competition, member composition, legislator career paths, legislative leadership, and intra- and inter-governmental influences on Florida's legislature. This study looks at the Florida legislature from 1992 when term limits were enacted through 2004, three electoral cycles in which term limits have been in effect. This study uses both quantitative and qualitative data where appropriate. Electoral data is used to assess electoral and demographic effects, as well as member career trajectories. Interview data with current and former legislators, lobbyists, and executive branch officials is used to analyze both changes in legislative organization and intra- and inter-governmental influences on the legislative process. Term limits has only created greater competition when a legislative seat opens and has actually created a greater advantage for incumbents. Women and minorities have only made minimal gains in winning seats post-term limits. Newly elected legislators are not political novices with a vast majority having previous elective experience. Leadership is more centralized under term limits and the Senate has gained an advantage over the more inexperienced House. Lastly, the influence of staff, lobbyists, and most importantly, the governor has greatly increased under term limits. This research finds that term limits have not produced the consequences that proponents had envisioned.^

Private higher education policy in Ohio, 1980--2006: A case study demonstrating the usefulness of Zumeta's public policy posture model

This study describes the case of private higher education in Ohio between 1980 and 2006 using Zumeta's (1996) model of state policy and private higher education. More specifically, this study used case study methodology and multiple sources to demonstrate the usefulness of Zumeta's model and illustrate its limitations. Ohio served as the subject state and data for 67 private, 4-year, degree-granting, Higher Learning Commission-accredited institutions were collected. Data sources for this study included the National Center for Education Statistics Integrated Postsecondary Data System as well as database information and documents from various state agencies in Ohio, including the Ohio Board of Regents. ^ The findings of this study indicated that the general state context for higher education in Ohio during the study time period was shaped by deteriorating economic factors, stagnating population growth coupled with a rapidly aging society, fluctuating state income and increasing expenditures in areas such as corrections, transportation and social services. However, private higher education experienced consistent enrollment growth, an increase in the number of institutions, widening involvement in state-wide planning for higher education, and greater fiscal support from the state in a variety of forms such as the Ohio Choice Grant. This study also demonstrated that private higher education in Ohio benefited because of its inclusion in state-wide planning and the state's decision to grant state aid directly to students. ^ Taken together, this study supported Zumeta's (1996) classification of Ohio as having a hybrid market-competitive/central-planning policy posture toward private higher education. Furthermore, this study demonstrated that Zumeta's model is a useful tool for both policy makers and researchers for understanding a state's relationship to its private higher education sector. However, this study also demonstrated that Zumeta's model is less useful when applied over an extended time period. Additionally, this study identifies a further limitation of Zumeta's model resulting from his failure to define "state mandate" and the "level of state mandates" that allows for inconsistent analysis of this component. ^