Exploring the financial consequences of the servitization of manufacturing

Commentators suggest that to survive in developed economies manufacturing firms have to move up the value chain, innovating and creating ever more sophisticated products and services, so they do not have to compete on the basis of cost. While this strategy is proving increasingly popular with policy makers and academics there is limited empirical evidence to explore the extent to which it is being adopted in practice. And if so, what the impact of this servitization of manufacturing might be. This paper seeks to fill a gap in the literature by presenting empirical evidence on the range and extent of servitization. Data are drawn from the OSIRIS database on 10,028 firms incorporated in 25 different countries. The paper presents an analysis of these data which suggests that: [i] manufacturing firms in developed economies are adopting a range of servitization strategies-12 separate approaches to servitization are identified; [ii] these 12 categories can be used to extend the traditional three options for servitization-product oriented Product-Service Systems, use oriented Product-Service Systems and result oriented Product-Service Systems, by adding two new categories "integration oriented Product-Service Systems" and "service oriented Product-Service Systems"; [iii] while the manufacturing firms that have servitized are larger than traditional manufacturing firms in terms of sales revenues, at the aggregate level they also generate lower profits as a % of sales; [iv] these findings are moderated by firm size (measured in terms of numbers of employees). In smaller firms servitization appears to pay off while in larger firms it proves more problematic; and [v] there are some hidden risks associated with servitization-the sample contains a greater proportion of bankrupt servitized firms than would be expected. © Springer Science + Business Media, LLC 2009.

Evidence-informed development of engineering practical work: Effecting change through staff and student engagement

This paper discusses innovations in curriculum development in the Department of Engineering at the University of Cambridge as a participant in the Teaching for Learning Network (TFLN), a teaching and learning development initiative funded by the Cambridge-MIT Institute a pedagogic collaboration and brokerage network. A year-long research and development project investigated the practical experiences through which students traditionally explore engineering disciplines, apply and extend the knowledge gained in lectures and other settings, and begin to develop their professional expertise. The research project evaluated current practice in these sessions and developed an evidence-base to identify requirements for new activities, student support and staff development. The evidence collected included a novel student 'practice-value' survey highlighting effective practice and areas of concern, classroom observation of practicals, semi-structured interviews with staff, a student focus group and informal discussions with staff. Analysis of the data identified three potentially 'high-leverage' strategies for improvement: development of a more integrated teaching framework, within which practical work could be contextualised in relation to other learning; a more transparent and integrated conceptual framework where theory and practice were more closely linked; development of practical work more reflective of the complex problems facing professional engineers. This paper sets out key elements of the evidence collected and the changes that have been informed by this evidence and analysis, leading to the creation of a suite of integrated practical sessions carefully linked to other course elements and reinforcing central concepts in engineering, accompanied by a training and support programme for teaching staff.

Dynamic Covariance Models for Multivariate Financial Time Series

The accurate prediction of time-changing covariances is an important problem in the modeling of multivariate financial data. However, some of the most popular models suffer from a) overfitting problems and multiple local optima, b) failure to capture shifts in market conditions and c) large computational costs. To address these problems we introduce a novel dynamic model for time-changing covariances. Over-fitting and local optima are avoided by following a Bayesian approach instead of computing point estimates. Changes in market conditions are captured by assuming a diffusion process in parameter values, and finally computationally efficient and scalable inference is performed using particle filters. Experiments with financial data show excellent performance of the proposed method with respect to current standard models.

Student-t processes as alternatives to Gaussian processes

We investigate the Student-t process as an alternative to the Gaussian process as a non-parametric prior over functions. We derive closed form expressions for the marginal likelihood and predictive distribution of a Student-t process, by integrating away an inverse Wishart process prior over the co-variance kernel of a Gaussian process model. We show surprising equivalences between different hierarchical Gaussian process models leading to Student-t processes, and derive a new sampling scheme for the inverse Wishart process, which helps elucidate these equivalences. Overall, we show that a Student-t process can retain the attractive properties of a Gaussian process - a nonparamet-ric representation, analytic marginal and predictive distributions, and easy model selection through covariance kernels - but has enhanced flexibility, and predictive covariances that, unlike a Gaussian process, explicitly depend on the values of training observations. We verify empirically that a Student-t process is especially useful in situations where there are changes in covariance structure, or in applications such as Bayesian optimization, where accurate predictive covariances are critical for good performance. These advantages come at no additional computational cost over Gaussian processes.

Rapid fabrication of Au nanoparticle films with the aid of centrifugal force

In this work, rapid fabrication of Au nanoparticle (Au NP) films has been simply achieved by alternate adsorption of citrate-stabilized Au NPs and poly(diallyldimethylammonium chloride) with the aid of centrifugal force. In contrast to conventional electrostatic assembly, we carried out the assembly process in a centrifuge with a rotating speed of 4000 rpm, where centrifugal force can be imposed on Au NPs. Scanning electron microscopy and cyclic voltammetry were employed to characterize the assembly procedure and the thus-prepared thin solid films. Our results demonstrate that centrifugal force can promote the assembly of Au NPs and therefore enable the rapid fabrication of functional Au NP films.

本科实习男护生压力源、应对方式与心理健康关系的研究

Objectives:To investigate stressor and stress level,coping styles and mental health of male nursing undergraduates in clinical practice;To find out the factors that influence mental health of male nursing undergraduates in clinical practice and to put forward some suggestions to improve the mental health status of male nursing undergraduates. Methods: After doing many literaturere search both at home and abroad,I gather further consulting many nursing undergraduates in clinical practice,Finally I formulate the “Nursing Student's Clinical Stressor Scale”.80 male nursing ungraduates from Bengbu Medical Colledge were recruited. While 140 female nursing ungraduates who were in clinical practice in the same period of time were taken as a comparative group.The following questionnaire package including a background questionnair,Nursing Student's Clinical Stressor Scale NSCSS,Simplified Coping Style Questionnaire SCSQ,The Symptom Checklist 90 SCL-90 were distributed and collected together in the 14th week during the clinical practice.Of the 220 questionnaires were distributed and 198 were found to valid,the valid callback rate was 92%.The endudeed 77 were male and 121 were female .Statistices analysis was performed by SPSS13.0 and AMOS5.0 software. Results： 1.25% of male nursing undergraduates had a higher level of stress, mainly from employment,major,working nature,working contents and so on.Compared with female nursing undergraduates,male nursing undergraduates underwent a higher pressure in the employment and the profession aspect,but lower in their insufficient knowledge and ability.There was a significant negative correlation between the male undergraduates’ stress level and their satisfaction degree to clinical nursing teaching and the professional title of the clinical teachers,but it was positively correlated with their family monthly income. Stress level of female nursing undergraduates positively related with the number of children in their families,but negatively correlated with their family monthly income; 2.Male nursing undergraduates' coping style both positive and negative coping styles were adopted by male nursing undergraduates but mean at while positive coping styles.The positive coping styles adopted by male nursing undergraduates were significantly lower than that adopted by female nursing undergraduates; 3.The scores of depression,interpersonal sensitivity and anxiety in male nursing undergraduates were significantly higher than those of the nationwide youths norm.Alist all subscales scores of male nursing group were more than those of female nursing undergraduates except for fear subscale. Mental health of male nursing undergraduates was inversly correlated with the professional title of the clinical teachers and satisfaction of their majors; 4.Among male nursing undergraduates,the total score of stress and most subscale(except working nature and working contents,employment)scores of stress were positively correlated with the negative coping styles.The scores of stress level was positively correlated with the scores of SCL-90,Negative coping styles was positively correlated with the scores of SCL-90 among male nursing undergraduates,while positive coping styles were inversly correlated with most subscales(except phobic,paranoia,psychoticism)scores of SCL-90. Conclusions： 1.25% male nursing undergraduates have a higher level of stress,which is from employment, profession,working nature and working contents,financial difficulties and so on.The coping styles adopted by male nursing undergraduates were mainly positive coping styles.The mental health of male nursing undergraduates were lower; 2.Different genders have significant differences between stressors, coping style and mental health; 3.Stress,coping style,satisfaction degree to clinical nursing teaching and the professional title of the clinical teachers are predietors of mental health among male nursing undergraduates.