Innovative real estate development finance – evidence from Europe

The authors would like to thank the Royal Institution of Chartered Surveyors (RICS) for their financial support of the project and the numerous respondents who gave so freely of their time.

Knowledge sources, innovative activity and the performance of UK new technology based firms

We present an innovation value chain analysis for a representative sample of new technology based firms (NTBFs) in the UK. This involves determining which factors lead to the usage of different knowledge sources and the relationships that exist between those sources of knowledge; the effect that each knowledge source has on innovative activity; and how innovation outputs affect the performance of NTBFs. We find that internal (i.e. R&D) and external knowledge sources are complementary for NTBFs, and that supply chain linkages have both a direct and indirect effect on innovation. NTBFs' skill resources matter throughout the innovation value chain, being positively associated with external knowledge linkages and innovation success, and also having a direct effect on growth independent of the effect on innovation. ©2010 IEEE.

Knowledge sources, innovative activity and the performance of UK new technology based firms

We present an innovation value chain analysis for a representative sample of new technology based firms (NTBFs) in the UK. This involves determining which factors lead to the usage of different knowledge sources and the relationships that exist between those sources of knowledge; the effect that each knowledge source has on innovative activity; and how innovation outputs affect the performance of NTBFs. We find that internal (i.e. R&D) and external knowledge sources are complementary for NTBFs, and that supply chain linkages have both a direct and indirect effect on innovation. NTBFs' skill resources matter throughout the innovation value chain, being positively associated with external knowledge linkages and innovation success, and also having a direct effect on growth independent of the effect on innovation. ©2010 IEEE.

Essays on Economics of Entrepreneurship

This dissertation examines three important issues. The first issue is about the human capital investment and entrepreneurship as a career choice. The standard human capital theory shows that firms (employees) never invest in general (firm-specific) human capital of the employee as they do not extract any return from it. However, when entrepreneurship is introduced as a career option for an innovative employee, both firm’s and employee’s human capital investments change. Employee starts investing in his firm-specific human capital to increase the probability to innovate (and to become an entrepreneur). However, the firm uses general human capital investment to reduce the risk of employee’s departure. The second issue is regarding the factors motivating entry regulations reforms and the possible nonlinear effects of entry regulation reforms. The current literature and the policy recommendations assume that these reforms have linear effects on entrepreneurship. Nevertheless, the anecdotal evidence shows that the outcomes of such reforms vary greatly from country to country. To investigate this issue, I collect a sample data on entry regulations and firm creation from World Bank. The empirical analysis indicates that the effect of entry regulation reforms depends on the pre-reform level of bureaucracy in the country. More specifically, while low-bureaucracy countries benefit from entry regulation reforms, high-bureaucracy countries do not benefit. Moreover, the probability of making a reform increases if the country has reformist neighbors, cumbersome entry regulations, high unemployment rate, or low corruption level. The last issue is related to the individual and joint effects of bureaucracy and corruption on different types of entrepreneurs. The current literature investigates these effects only on unified measures of entrepreneurship. However, entrepreneurs are very different in many senses. To address this issue, I collect the necessity-based and opportunity-based entrepreneurship data from Global Entrepreneurship Monitor. The empirical analysis yield two important results: First, bureaucracy has a direct negative (positive) effect on necessity-based (opportunity-based) entrepreneurs. Second, corruption mitigates the effect of bureaucracy for both groups of entrepreneurs. All three chapters offer useful insights and important implications to academics and policymakers.

The recent development and performance of ethical investments

In this chapter, we assess the recent development and performance of ethical investments around the world. Ethical investments include both socially responsible investments (following Environmental, Social and Governance criteria) and faith-based investments (following religious principles). After presenting the development of each type of funds in a historical context, we analyse their ethical screening process, highlighting similarities and differences across funds and regions. This leads us to investigate their characteristics in terms of return and risk, and finally evaluate their historical performance using various risk-adjusted performance measures on a small sample of US funds. Hence we are able to not only compare the performance of each fund with each other and with traditional investments, but also assess their relative resilience to the 2007-08 financial crisis.

Good practices and inclusive Art at the University: the image of the Artist/Teacher and Innovative Pedagogies

The aim of art, as transformer of the individual, has numerous sides which give the human beings a sense of enhancement and growth. It is considered by university the need for our students to take part of this process of social transformation in which they feel the need of helping the community when its members are at risk of social exclusion. Art is considered to be a means, a tool and a purpose for an artis-pedagogue to be used as a guide for the renewal. And the university is also considered as a focus of commitment by means of the development of good practices as well as adopting an open and innovative attitude to any changes aimed at living harmoniously within a more just society.

Development of sustainable, innovative and energy-efficient concrete, based on the integration of all-waste materials: SUS-CON panels for building applications

The building sector requires the worldwide production of 4 billion tonnes of cement annually, consuming more than 40% of global energy and accounting for about 8% of the total CO2 emissions. The SUS-CON project aimed at integrating waste materials in the production cycle of concrete, for both ready-mixed and pre-cast applications, resulting in an innovative light-weight, ecocompatible and cost-effective construction material, made by all-waste materials and characterized by enhanced thermal insulation performance and low embodied energy and CO2. Alkali activated “cementless” binders, which have recently emerged as eco-friendly construction materials, were used in conjunction with lightweight recycled aggregates to produce sustainable concrete for a range of applications. This paper presents some results from the development of a concrete made with a geopolymeric binder (alkali activated fly ash) and aggregate from recycled mixed plastic. Mix optimisation was achieved through an extensive investigation on production parameters for binder and aggregate. The mix recipe was developed for achieving the required fresh and hardened properties. The optimised mix gave compressive strength of about 7 MPa, flexural strength of about 1.3 MPa and a thermal conductivity of 0.34 W/mK. Fresh and hardened properties were deemed suitable for the industrial production of precast products. Precast panels were designed and produced for the construction of demonstration buildings. Mock-ups of about 2.5 x 2.5 x 2.5 m were built at a demo park in Spain both with SUS-CON and Portland cement concrete, monitoring internal and external temperatures. Field results indicate that the SUS-CON mock-ups have better insulation. During the warmest period of the day, the measured temperature in the SUS-CON mock-ups was lower.

Global efficiency of innovative rotational mold directly heated by thermal fluid

The article is focused on analysis of global efficiency of new mold for rotational molding of plastic parts, being directly heated by thermal fluid. The overall efficiency is based on several items such as reduction of cycle time, better uniformity of heating-cooling and low energy consumption. The new tool takes advantage of additive fabrication and electroforming for making the optimal manifold and cavity shell of the mold. Experimental test of a prototype mold was carried out on an experimental rotational molding machine, developed for this purpose, measuring wall temperature, and internal air temperature, with and without plastic material inside. Results were compared with conventional mold heated into an oven and to theoretical simulations done by Computational Fluid Dynamic software (CFD). The analysis represents considerable improvement of cycle time related to conventional methods (heated by oven) and better thermal uniformity to conventional procedures by direct heating of oil with external channels. In addition to thermal analysis an energetic efficiency study was done. POLYM. ENG. SCI., 52:1998-2005, 2012. © 2012 Society of Plastics Engineers Copyright © 2012 Society of Plastics Engineers.

An innovative electroforming process for oil heated rotational moulding tools

Rotational moulding is a method to produce hollow plastic articles. Heating is normally carried out by placing the mould into a hot air oven where the plastic material in the mould is heated. The most common cooling media are water and forced air. Due to the inefficient nature of conventional hot air ovens most of the energy supplied by the oven does not go to heat the plastic and as a consequence the procedure has very long cycle times. Direct oil heating is an effective alternative in order to achieve better energy efficiency and cycle times. This research work has combined this technology with new innovative design of mould, applying the advantages of electroforming and rapid prototyping. Complex cavity geometries are manufactured by electroforming from a rapid prototyping mandrel. The approach involves conformal heating and cooling channels , where the oil flows into a parallel channel to the electroformed cavity (nickel or copper). Because of this the mould enables high temperature uniformity with direct heating and cooling of the electroformed shell, Uniform heating and cooling is important not only for good quality parts but also for good uniform wall thickness distribution in the rotationally moulded part. The experimental work with the manufactured prototype mould has enabled analysis of the thermal uniformity in the cavity, under different temperatures. Copyright © 2008 by ASME.