The impact of information and communications technology on commercial real estate in the new economy

Purpose – This paper seeks to critically review the conceptual frameworks that have been developed for assessing the impact of information and communications technology (ICT) on real estate. Design/methodology/approach – The research is based on a critical review of existing literature and draws from examples of previous empirical research in the field. Findings – The paper suggests that a “socio-technical framework” is more appropriate to examine ICT impact in real estate than other “deterministic” frameworks. Therefore, ICT is an important part of the new economy, but must be seen in the context of a number of other social and economic factors. Research limitations/implications – The research is based on a qualitative assessment of existing frameworks, and by using examples from commercial real estate, assesses the extent to which a “socio-technical” framework can aid understanding of ICT impact. Practical implications – The paper is important in highlighting a number of the main issues in conceptualising ICT impact in real estate and also critically examines the emergence of a new economy in the information society within the general context of real estate. The paper also highlights research gaps in the field. Originality/value – The paper deconstructs the myths of the “death of real estate” and “productivity increase means jobs loss”, in relation to office real estate. Finally, it examines some of the ways in which ICT is impacting on real estate and suggests the most important components for a future research agenda in the field of ICT and real estate impact, and will be of value to property investors, facilities managers, developers, financiers, and others.

Evaluating business value of IT towards optimisation of the application portfolio

Information technology has become heavily embedded in business operations. As business needs change over time, IT applications are expected to continue providing required support. Whether the existing IT applications are still fit for the business purpose they were intended or new IT applications should be introduced, is a strategic decision for business, IT and business-aligned IT. In this paper, we present a method which aims to analyse business functions and IT roles, and to evaluate business-aligned IT from both social and technical perspectives. The method introduces a set of techniques that systematically supports the evaluation of the existing IT applications in relation to their technical capabilities for maximising business value. Furthermore, we discuss the evaluation process and results which are illustrated and validated through a real-life case study of a UK borough council, and followed by discussion on implications for researchers and practitioners.

The Value of Using Interns in the Academic Library

Graduate programs in library and information science programs provide strong theoretical foundations in information systems, library organization, library history, management, collection management to support user needs, reference, information literacy instruction, and specialized information resources. While practical course projects create approximations of professional librarianship, the best hands-on learning experiences include work-based learning through internship placements in actual libraries. Internships immerse students in valuable hands-on practical work in real-workd settings. Internships also learn from the interns' perspectives on library processes and challenges, while also providing library professionals with enriching opportunities to mentor library students and convey knowledge to future generations of professionals.

Learning-by-employing: the value of commitment

We analyze a dynamic principal–agent model where an infinitely-lived principal faces a sequence of finitely-lived agents who differ in their ability to produce output. The ability of an agent is initially unknown to both him and the principal. An agent’s effort affects the information on ability that is conveyed by performance. We characterize the equilibrium contracts and show that they display short–term commitment to employment when the impact of effort on output is persistent but delayed. By providing insurance against early termination, commitment encourages agents to exert effort, and thus improves on the principal’s ability to identify their talent. We argue that this helps explain the use of probationary appointments in environments in which there exists uncertainty about individual ability.

The impact of negative social environmental events on the market value of supply chain partners

The present work analyzes the impact of negative social / environmental events on the market value of supply chain partners. The study offers a contextualized discussion around important concepts which are largely employed on the Operations Management and Management literature in general. Among them, the developments of the literature around supply chains, supply chain management, corporate social responsibility, sustainable development and sustainable supply chain management are particularly addressed, beyond the links they share with competitive advantage. As for the theoretical bases, the study rests on the Stakeholder Theory, on the discussion of the efficient-market hypothesis and on the discussion of the adjustment of stock prices to new information. In face of such literature review negative social / environmental events are then hypothesized as causing negative impact in the market value of supply chain partners. Through the documental analysis of publicly available information around 15 different cases (i.e. 15 events), 82 supply chain partners were identified. Event studies for seven different event windows were conducted on the variation of the stock price of each supply chain partner, valuing the market reaction to the stock price of a firm due to triggering events occurred in another. The results show that, in general, the market value of supply chain partners was not penalized in response to such announcements. In that sense, the hypothesis derived from the literature review is not confirmed. Beyond that, the study also provides a critical description of the 15 cases, identifying the companies that have originated such events and their supply chain partners involved.

A Markovian model market-Akerlof's lemons and the asymmetry of information

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Mexico: industrial policies and the production of information and communication technology goods and services

This study investigates the extent to which the digital boom has had repercussions on productive activity, in terms of both manufacturing (ict goods) and services (ict services), in addition to its potential ramifications in the rest of the Mexican economy. Input-output matrices are used and compared to those of Brazil and the United States. Mexico has fallen behind, particularly in the production of ict goods, and the productive chains of this activity have weakened. The ict services sector offers much greater potential than has been exploited thus far, with the advantage that it involves comparatively more value added and has major diversification possibilities. It is considered essential to find more effective industrial policies targeted on the ict goods and services sectors; but the experience of countries such as Brazil, which have applied more proactive approaches with mixed results, suggests that this will be challenging.

Chemical Composition, Rumen Fermentation Kinetics, Digestibility and Energy Value of Cassava Leaves Hay at Different Storage Times

Cassava leaves have been widely used as a protein source for ruminants in the tropics. However, these leaves contain high level of hydro-cyanic acid (HCN) and condensed tannins (CT). There are evidences that making hay can eliminate more than 90% of HCN and that long-term storage can reduce CT levels. A complete randomized design with four replicates was conducted to determine the effect of different storage times (0-control, 60, 90 and 120 days) on chemical composition, in vitro rumen fermentation kinetics, digestibility and energy value of cassava leaves hay. Treatments were compared by analyzing variables using the GLM procedure (SAS 9.1, SAS Institute, Inc., Cary, NC). Crude protein (CP) and ether extract (EE) of the cassava hay were not affected (P > 0.05) by storage time (17.7% and 3.0%, respectively). Neutral detergent fiber, acid detergent fiber, total carbohydrate and non-fiber carbohydrate were not affected either (P>0.05) by storage time (47.5, 32.6, 72.3 and 25.8% respectively). However, other parameters were influenced. CT was lower (P<0.05) in hay after 120 days of storage compared with control (1.75% versus 3.75%, respectively). Lignin and insoluble nitrogen in neutral detergent, analyzed without sodium sulfite, were higher (P<0.01) after 120 days of storage, compared with the control (11.22 versus 13.57 and 1.65 versus 3.81% respectively). This suggests that the CT has bound to the fiber or CP and became inactive. Consequently, the in vitro digestibility of organic matter (50.36%), total digestible nutrients (44.79%) and energy (1.61 Mcal/KgMS), obtained from gas production data at 72 h of incubation, has increased (P<0.05) with storage times (56.83%, 51.53% and 1.86 Mcal/KgMS, respectively). The chemical composition and fermentative characteristics of cassava hay suffered variations during the storage period. The best values were obtained after 90 days of storage. This is probably due to the reduction in condensed tannins.

Information access law and disclosing of information by joint-stock companies in Brazil: open data and Extensible Business Reporting Language (XBRL) standard

The strategic management of information plays a fundamental role in the organizational management process since the decision-making process depend on the need for survival in a highly competitive market. Companies are constantly concerned about information transparency and good practices of corporate governance (CG) which, in turn, directs relations between the controlling power of the company and investors. In this context, this article presents the relationship between the disclosing of information of joint-stock companies by means of using XBRL, the open data model adopted by the Brazilian government, a model that boosted the publication of Information Access Law (Lei de Acesso à Informação), nº 12,527 of 18 November 2011. Information access should be permeated by a mediation policy in order to subsidize the knowledge construction and decision-making of investors. The XBRL is the main model for the publishing of financial information. The use of XBRL by means of new semantic standard created for Linked Data, strengthens the information dissemination, as well as creates analysis mechanisms and cross-referencing of data with different open databases available on the Internet, providing added value to the data/information accessed by civil society.

Protected Species – Research Permits and the Value of Basic Research

The complexities involved in obtaining permits for field research using protected species continue to increase. In October 1988, Congress amended the Marine Mammal Protection Act (MMPA) to increase the documentation required to obtain a scientific research permit (PL 100-711). Applicants for scientific research permits must now submit “information indicating that the taking is required to further a bona fide scientific purpose and does not involve unnecessary duplication of research.”

Towards a Model of Information Systems User Competency

The ability to utilize information systems (IS) effectively is becoming a necessity for business professionals. However, individuals differ in their abilities to use IS effectively, with some achieving exceptional performance in IS use and others being unable to do so. Therefore, developing a set of skills and attributes to achieve IS user competency, or the ability to realize the fullest potential and the greatest performance from IS use, is important. Various constructs have been identified in the literature to describe IS users with regard to their intentions to use IS and their frequency of IS usage, but studies to describe the relevant characteristics associated with highly competent IS users, or those who have achieved IS user competency, are lacking. This research develops a model of IS user competency by using the Repertory Grid Technique to identify a broad set of characteristics of highly competent IS users. A qualitative analysis was carried out to identify categories and sub-categories of these characteristics. Then, based on the findings, a subset of the model of IS user competency focusing on the IS-specific factors – domain knowledge of and skills in IS, willingness to try and to explore IS, and perception of IS value – was developed and validated using the survey approach. The survey findings suggest that all three factors are relevant and important to IS user competency, with willingness to try and to explore IS being the most significant factor. This research generates a rich set of factors explaining IS user competency, such as perception of IS value. The results not only highlight characteristics that can be fostered in IS users to improve their performance with IS use, but also present research opportunities for IS training and potential hiring criteria for IS users in organizations.

Assessing Pathogenicity for Novel Mutation/Sequence Variants: The Value of Healthy Older Individuals

Improvement in DNA technology is increasingly revealing unexpected/unknown mutations in healthy persons and generating anxiety due to their still unknown health consequences. We report a 44-year-old healthy father of a 10-year-old daughter with bilateral coloboma and hearing loss, but without muscle weakness, in whom a whole-genome CGH revealed a deletion of exons 38-44 in the dystrophin gene. This mutation was inherited from her asymptomatic father, who was further clinically and molecularly evaluated for prognosis and genetic counseling (GC). This deletion was never identified by us in 982 Duchenne/Becker patients. To assess whether the present case represents a rare case of non-penetrance, and aiming to obtain more information for prognosis and GC, we suggested that healthy older relatives submit their DNA for analysis, to which several complied. Mutation analysis revealed that his mother, brother, and 56-year-old maternal uncle also carry the 38-44 deletion, suggesting it an unlikely cause of muscle weakness. Genome sequencing will disclose mutations and variants whose health impact are still unknown, raising important problems in interpreting results, defining prognosis, and discussing GC. We suggest that, in addition to family history, keeping the DNA of older relatives could be very informative, in particular for those interested in having their genome sequenced.

Registry for the Evaluation of the Prognostik value of a novel integrated imaging approach combining Single Photon Emission Computed Tomography with coronary calcification imaging (REPROSPECT)

AIMS: Although an added diagnostic and prognostic value of the global coronary artery calcification (CAC) score as an adjunct to single-photon emission computed tomography (SPECT)-myocardial perfusion image (MPI) has been repeatedly documented, none of the previous studies took advantage of the anatomic information provided by the unenhanced cardiac CT. Therefore, no co-registration has so far been used to match a myocardial perfusion defect with calcifications in the subtending coronary artery. To evaluate the prognostic value of integrating SPECT-MPI with CAC images were obtained from non-enhanced cardiac computed tomography (CT) for attenuation correction to predict major adverse cardiac events (MACE). METHODS AND RESULTS: Follow-up was obtained in 462 patients undergoing a 1-day stress/rest (99m)Tc-teterofosmin SPECT and non-enhanced cardiac CT for attenuation correction. Survival free of MACE was determined using the Kaplan-Meier method. After integrating MPI and CT findings, patients were divided into three groups (i) MPI defect matched by calcification (CAC ≥ 1) in the subtending coronary artery (ii) unmatched MPI and CT finding (iii) normal finding by MPI and CT. At a mean follow-up of 34.5 ± 13 months, a MACE was observed in 80 patients (33 death, 6 non-fatal myocardial infarction, 9 hospitalizations due to unstable angina, and 32 revascularizations). Survival analysis revealed the most unfavourable outcome (P < 0.001 log-rank test) for patients with a matched finding. CONCLUSION: In the present study, a novel approach using a combined integration of cardiac SPECT-CAC imaging allows for refined risk stratification, as a matched defect emerged as an independent predictor of MACE.

Added value of coronary artery calcium score as an adjunct to gated SPECT for the evaluation of coronary artery disease in an intermediate-risk population

The coronary artery calcium (CAC) score is a readily and widely available tool for the noninvasive diagnosis of atherosclerotic coronary artery disease (CAD). The aim of this study was to investigate the added value of the CAC score as an adjunct to gated SPECT for the assessment of CAD in an intermediate-risk population. METHODS: Seventy-seven prospectively recruited patients with intermediate risk (as determined by the Framingham Heart Study 10-y CAD risk score) and referred for coronary angiography because of suspected CAD underwent stress (99m)Tc-tetrofosmin SPECT myocardial perfusion imaging (MPI) and CT CAC scoring within 2 wk before coronary angiography. The sensitivity and specificity of SPECT alone and of the combination of the 2 methods (SPECT plus CAC score) in demonstrating significant CAD (>/=50% stenosis on coronary angiography) were compared. RESULTS: Forty-two (55%) of the 77 patients had CAD on coronary angiography, and 35 (45%) had abnormal SPECT results. The CAC score was significantly higher in subjects with perfusion abnormalities than in those who had normal SPECT results (889 +/- 836 [mean +/- SD] vs. 286 +/- 335; P < 0.0001). Similarly, with rising CAC scores, a larger percentage of patients had CAD. Receiver-operating-characteristic analysis showed that a CAC score of greater than or equal to 709 was the optimal cutoff for detecting CAD missed by SPECT. SPECT alone had a sensitivity and a specificity for the detection of significant CAD of 76% and 91%, respectively. Combining SPECT with the CAC score (at a cutoff of 709) improved the sensitivity of SPECT (from 76% to 86%) for the detection of CAD, in association with a nonsignificant decrease in specificity (from 91% to 86%). CONCLUSION: The CAC score may offer incremental diagnostic information over SPECT data for identifying patients with significant CAD and negative MPI results.

Prognostic value of early exercise testing after coronary stent implantation

The clinical value of early exercise stress testing (EST) after coronary stenting to predict long-term clinical outcomes is unknown. Of 1,000 unselected patients who underwent coronary stenting, 446 random patients underwent early EST the day after intervention. Clinical long-term outcomes (41 +/- 20 months) were correlated with normal (n = 314 [70%]) or positive (n = 102 [23%]) EST results. Patients with inconclusive test results (n = 30 [7%]) were excluded from the analysis. Overall mortality was significantly higher in patients with positive EST results (9.3% vs 3.9%, p = 0.04). Major adverse cardiac events and cardiac mortality also tended to be higher in patients with positive stress test results (45.4% vs 35.4%, p = 0.08, and 4.1% vs 1.1%, p = 0.05, respectively). Patients with the combination of positive stress test results and incomplete revascularization appeared to be the group at highest risk for major adverse cardiac events (47.1% vs 33.3% for patients with normal stress test results and complete revascularization, p = NS). Negative stress test results reduced (odds ratio 0.329, 95% confidence interval 0.120 to 0.905, p = 0.031) and a lower ejection fraction increased (odds ratio 0.942, 95% confidence interval 0.897 to 0.989, p = 0.017) the risk for death. In conclusion, an early stress test after coronary stenting provides important prognostic information. Positive stress test results, especially in combination with incomplete revascularization, are associated with higher mortality, a trend toward more repeat revascularization procedures, and higher risk for major adverse cardiac events.