Aineettoman pääoman taloudellinen raportointi ja siihen liittyvät haasteet

Tutkielmassa perehdytään aineettoman pääoman taloudellisessa raportoinnissa ilmeneviin haasteisiin. Sen lisäksi pyritään selvittämään kuinka aineettoman pääoman taloudellista raportointia voitaisiin kehittää.

Intellectual Capital Measurement in IT industry

The goal of this research – which is to critically analyze current theories and methods of intangible assets evaluation and potentially develop and test new methodology based on the practical example(s) in the IT industry. Having this goal in mind the main research questions in this paper will be: What are advantages and disadvantages of the current practices of measurement intellectual capital or valuation of intangible assets? How to properly measure intellectual capital in IT? Resulting method exhibits a new unique approach to the IC measurement and potentially even larger field of application. Despite the fact that in this particular research, I focused my attention on IT (Software and Internet services cluster – to be exact), the logic behind the method is applicable within any industry since the method is designed to be fully compliant with measurement theory and thus can be properly scaled for any application. Building a new method is a difficult and iterative process: in the current iteration the method stands out as rather a theoretical concept rather than a business tool, however even current concept totally fulfills its purpose as a benchmarking tool for measuring intellectual capital in IT industry.

Suorituskyvyn johtamisen ja mittaamisen kehittäminen suuren yrityksen tutkimus- ja tuotekehitystoiminnassa

Tässä tutkimuksessa selvitettiin, miten suorituskyvyn johtamista ja mittaamista käytännössä toteutettiin suuressa tutkimus- ja tuotekehitystoimintaa Suomessa harjoittavassa elintarvikealan yrityksessä. Tutkimuksessa kartoitettiin tärkeimpiä suorituskykyyn vaikuttavia tekijöitä suorituskyvyn johtamisen ja mittaamisen näkökulmasta. Tutkimuksen tavoitteena oli saada kooste suosituksista tutkimus- ja tuotekehitystoiminnan suorituskyvyn johtamisen ja mittaamisen kehittämiseksi. Tutkimuksen laajuus rajattiin neljään case-yritykseen. Tutkimuksessa tehtiin empiirinen puolistrukturoitu kyselytutkimus, strukturoidut haastattelut sekä tulosten arviointi. Tutkimusote oli lähinnä toiminta-analyyttinen, koska tutkimuksessa käsiteltiin organisaation toimintaa, johtamista, ongelmanratkaisua, päätöksentekoprosesseja sekä kehitys- ja muutosprosesseja. Tutkimustulosten perusteella suorituskyvyn johtamista ja mittaamista case-yrityksissä toteutettiin BSC:n yleisten näkökulmien mukaisesti. Tutkimus- ja tuotekehitystoiminnan mittauksen tavoitteet poikkesivat toisistaan niiden toiminnan luonteesta johtuen. Tutkimustoiminnassa suorituskyvyn mittauksen tavoitteet painottuivat lähinnä innovatiivisuuteen, oppimiseen ja motivointiin. Tuotekehitystoiminnassa mittauksen tavoitteet olivat enemmän diagnostisia. Tuotekehitystoiminnassa tavoitteena olivat projektien seurantaan, toiminnan tulostenarviointiin, talouteen sekä koordinaatioon ja kommunikointiin liittyvät tekijät. Tutkimustulosten perusteella puutteita havaittiin suorituskyvyn viestinnän riittävyydessä ja vaikuttavuudessa, mittaustiedon hyödynnettävyydessä, aineettoman pääoman mittauksessa, projektien arviointikriteerien viestinnässä, prosessien selkeydessä ja toimivuudessa, projektiosaamisessa, suorituskyvyn mittauksessa, vaikutusmahdollisuuksissa, johtamisessa ja esimiestyössä.

Impact of Product-harm Crisis on Brand Equity: the Moderating Role of Corporate Social Performance

There is an increasing amount of product-harm crisis in the past few years; and the impact of a product-harm crisis becomes more and more influential due to the high increasing speed of globalization. And it is believed that the negative damages to a firm leading to a loss of the intangible assets is bigger than other costs such as the cost of the product recall. Brand equity is a very important and valuable intangible asset for a firm; and it is particularly vulnerable during the crisis. And CSP (CSP) is a hot concept associated with product-harm crisis and brand equity. The aim of this study is to understand how product-harm crisis influences by simultaneously involving CSP as a moderator in a consumer-based level. An experimental study was conducted through an online questionnaire among 198 students in Finland. The questionnaire mainly assessed the consumers’ attitudes towards CSP and brand before/after a fictional product-harm crisis. The results shows that the brand equity was negatively related to the product-harm crisis. And the extent level of crisis’s severity was positively related to the loss of the brand equity; whereas, acknowledged blame was more useful to compensate the loss of brand equity in the low-severity crisis. CSP acted as a moderator role which could compensate the loss of brand equity caused by the product-harm crisis. Managerial implications are also offered for crisis managers, brand managers, and CSR managers.

La protéine accessoire Vpu du VIH-1 inhibe l'activité antivirale des pDCs à travers un processus ILT7-dépendant

Viral protein U (Vpu) is an accessory protein of HIV‐1 that efficiently targets BST2/Tetherin, a cellular restriction factor that acts as molecular anchor impeding the release of various enveloped viruses from the cell surface. The recently discovered natural receptor of BST2 is ILT7, a molecule exclusively expressed at the surface of the professional type 1 interferon (IFN‐1) producing cells, plasmacytoid dendritic cells (pDCs). The interaction between BST2 and ILT7 has been reported to efficiently induce a repression of IFN­‐1 secretion by pDCs. Here, we investigated the impact of Vpu mediated antagonism of BST2, in regards to this newly described immune function of BST2. Using a system of CD4+ T cell lines infected with wild type or Vpu‐deficient HIV-­1 cultured with peripheral blood mononuclear cells or purified pDCs, we report that the presence of Vpu efficiently reduces IFN-­1 production from sensing pDCs. Furthermore, we observed that this Vpu effect is dependent on the availability of BST2 molecules at the surface of the infected cells, since the Vpu's immunoregulation is abrogated when blocking any potential BST2 trans interaction with anti­‐BST2 antibodies. Similarly, depleting ILT7 from pDCs by means of small interfering RNA treatment equally negates the downregulation of pDC IFN-­1 secretion by Vpu. Finally, the use of recombinant soluble ILT7 competes with pDC‐bound ILT7 for the free BST2 and similarly results in high IFN-­1 production, causing an identical phenotype. Overall, our results demonstrate that Vpu heightens ILT7 activation and subsequent repression of IFN‐1 production by pDCs in response to HIV­‐1 infected CD4+ T cells by promoting it's trans interaction with infected T cell bound BST2, through a yet uncharacterized mechanism. By allowing efficient particle release and restraining pDCs antiviral functions, Vpu exerts a double role on BST2 that seems crucial for the replication and dissemination of HIV‐1.

Hacia una estrategia de marca país : caso Colombia es Pasión

Colombia ha comenzado a emerger en ese grupo de países que ven la estrategia de marca país como una herramienta poderosa de comunicación; y que de lograr una gestión exitosa en el ámbito internacional, resulta ser un activo estratégico que contribuirá a promover el crecimiento de las exportaciones, la inversión extranjera y el turismo.

Plan de empresa COLPallets S.A.S.

Plan de empresa en el cual se encuentra demostrada la viabilidad para la formulación, puesta en marcha y desarrollo, de una empresa productora y comercializadora de Pallets (Estibas) que tiene como principal mercado Estados Unidos.

La protección jurídica del canal de distribución

Analiza la función económica de distribución comercial, da un recorrido general de la figura para presentar los remedios jurídicos del distribuidor en el Derecho colombiano.

El uso en las organizaciones de venta al por mayor del marketing mediante la relación estratégica comunitaria y efectividad de la misma

Se busca ver cuál es el uso que las organizaciones hacen del concepto y estrategias comunitarias mediante el marketing; aunque existen varias formas de fidelizar el cliente, en el sector de comercio al por mayor, se vio una gran dificultad de acercarse al consumidor. Una de las formas más fáciles y efectivas de hacerlo es por medio de comunidades ya que elimina las barreras de mercado y crea vínculos entre cliente-empresa. Para esto se utilizó el análisis de caso, seleccionando una organización de relevancia en el sector de venta al por mayor. En dicha organización no se encontró el uso de la relación estratégica comunitaria de forma directa, aunque se vio un interés en incorporarlo; esto se evaluó mediante fuentes de evidencia, tales como entrevistas, informes financieros de la compañía, documentos que proporciono la organizaciones, pagina web e información del comercio de venta al por mayor y fundamentación teórica para realizar un óptimo análisis. A la empresa se le recomienda incorporar en sus planes estratégicos la relación estratégica comunitaria; esto ayudaría a eliminar barreras de mercado, identificar las necesidades o nuevos nichos de mercado.

SBR technology for wastewater treatment: suitable operational conditions for a nutrient removal

Actualment, la legislació ambiental ha esdevingut més restrictiva pel que fa a la descàrrega d'aigües residuals amb nutrients, especialment en les anomenades àrees sensibles o zones vulnerables. Arran d'aquest fet, s'ha estimulat el coneixement, desenvolupament i millora dels processos d'eliminació de nutrients. El Reactor Discontinu Seqüencial (RDS) o Sequencing Batch Reactor (SBR) en anglès, és un sistema de tractament de fangs actius que opera mitjançant un procediment d'omplerta-buidat. En aquest tipus de reactors, l'aigua residual és addicionada en un sol reactor que treballa per càrregues repetint un cicle (seqüència) al llarg del temps. Una de les característiques dels SBR és que totes les diferents operacions (omplerta, reacció, sedimentació i buidat) es donen en un mateix reactor. La tecnologia SBR no és nova d'ara. El fet, és que va aparèixer abans que els sistema de tractament continu de fangs actius. El precursor dels SBR va ser un sistema d'omplerta-buidat que operava en discontinu. Entre els anys 1914 i 1920, varen sorgir certes dificultats moltes d'elles a nivell d'operació (vàlvules, canvis el cabal d'un reactor a un altre, elevat temps d'atenció per l'operari...) per aquests reactors. Però no va ser fins a finals de la dècada dels '50 principis del '60, amb el desenvolupament de nous equipaments i noves tecnologies, quan va tornar a ressorgir l'interès pels SBRs. Importants millores en el camp del subministrament d'aire (vàlvules motoritzades o d'acció pneumàtica) i en el de control (sondes de nivell, mesuradors de cabal, temporitzadors automàtics, microprocessadors) han permès que avui en dia els SBRs competeixin amb els sistemes convencional de fangs actius. L'objectiu de la present tesi és la identificació de les condicions d'operació adequades per un cicle segons el tipus d'aigua residual a l'entrada, les necessitats del tractament i la qualitat desitjada de la sortida utilitzant la tecnologia SBR. Aquestes tres característiques, l'aigua a tractar, les necessitats del tractament i la qualitat final desitjada determinen en gran mesura el tractament a realitzar. Així doncs, per tal d'adequar el tractament a cada tipus d'aigua residual i les seves necessitats, han estat estudiats diferents estratègies d'alimentació. El seguiment del procés es realitza mitjançant mesures on-line de pH, OD i RedOx, els canvis de les quals donen informació sobre l'estat del procés. Alhora un altre paràmetre que es pot calcular a partir de l'oxigen dissolt és la OUR que és una dada complementària als paràmetres esmentats. S'han avaluat les condicions d'operació per eliminar nitrogen d'una aigua residual sintètica utilitzant una estratègia d'alimentació esglaonada, a través de l'estudi de l'efecte del nombre d'alimentacions, la definició de la llargada i el número de fases per cicle, i la identificació dels punts crítics seguint les sondes de pH, OD i RedOx. S'ha aplicat l'estratègia d'alimentació esglaonada a dues aigües residuals diferents: una procedent d'una indústria tèxtil i l'altra, dels lixiviats d'un abocador. En ambdues aigües residuals es va estudiar l'eficiència del procés a partir de les condicions d'operació i de la velocitat del consum d'oxigen. Mentre que en l'aigua residual tèxtil el principal objectiu era eliminar matèria orgànica, en l'aigua procedent dels lixiviats d'abocador era eliminar matèria orgànica i nitrogen. S'han avaluat les condicions d'operació per eliminar nitrogen i fòsfor d'una aigua residual urbana utilitzant una estratègia d'alimentació esglaonada, a través de la definició del número i la llargada de les fases per cicle, i la identificació dels punts crítics seguint les sondes de pH, OD i RedOx. S'ha analitzat la influència del pH i la font de carboni per tal d'eliminar fòsfor d'una aigua sintètica a partir de l'estudi de l'increment de pH a dos reactors amb diferents fonts de carboni i l'estudi de l'efecte de canviar la font de carboni. Tal i com es pot veure al llarg de la tesi, on s'han tractat diferents aigües residuals per a diferents necessitats, un dels avantatges més importants d'un SBR és la seva flexibilitat.

Knowledge and information evaluation practice: an exploratory study in a construction firm

There are a number of challenges associated with managing knowledge and information in construction organizations delivering major capital assets. These include the ever-increasing volumes of information, losing people because of retirement or competitors, the continuously changing nature of information, lack of methods on eliciting useful knowledge, development of new information technologies and changes in management and innovation practices. Existing tools and methodologies for valuing intangible assets in fields such as engineering, project management and financial, accounting, do not address fully the issues associated with the valuation of information and knowledge. Information is rarely recorded in a way that a document can be valued, when either produced or subsequently retrieved and re-used. In addition there is a wealth of tacit personal knowledge which, if codified into documentary information, may prove to be very valuable to operators of the finished asset or future designers. This paper addresses the problem of information overload and identifies the differences between data, information and knowledge. An exploratory study was conducted with a leading construction consultant examining three perspectives (business, project management and document management) by structured interviews and specifically how to value information in practical terms. Major challenges in information management are identified. An through-life Information Evaluation methodology (IEM) is presented to reduce information overload and to make the information more valuable in the future.

The impact of real estate on the mixed-asset portfolio in periods of financial stress

The case for holding real estate in the mixed-asset portfolio is typically made on its stabilising effect as a result of its diversification benefits. However, portfolio diversification often fails when it is most needed, i.e. during periods of financial stress. In these periods, the variability of returns for most asset classes increases thus reducing the stabilising effect of a diversified portfolio. This paper applies the approach of Chow et al (1999) to the US domestic mixed-asset portfolio to establish whether real estate, represented by REITs, is especially useful in times of financial stress. To this end monthly returns data on five assets classes: large cap stocks, small cap stocks, long dated government bonds, cash (T-Bills) and real estate (REITs) are evaluated over the period January 1972 to December 2001. The results indicate that the inclusion of REITs in the mixed-asset portfolio can lead to increases or decreases in returns depending on the asset class replaced and whether the period is one of calm or stress. However, the inclusion of REITs invariably leads to reductions in portfolio risk that are greater than any loss in return, especially in periods of financial stress. In other words, REITs acts as a stabilising force on the mixed-asset portfolio when it is most needed, i.e. in periods of financial stress.

Is ESG commitment linked to investment performance in the real estate sector?

The linkage between corporate commitment to environmental, social and governance (ESG) issues and investment performance has generated a substantial body of research outside the real estate sector. Nevertheless, the relationship between the environmental performance and financial performance of companies is still not well understood as studies have found mixed and contradicting results. Drawing upon the KLD database which contains ratings on seven ESG dimensions from 2003-2009, this paper investigates the relationship between the ESG rating and the financial performance of a sample of US real estate firms. Since the primary transmission channel from ESG activities to financial performance may be better reflected by a firm's intangible assets, we model both Tobin's q and the total annual return in a panel framework with time and sector specific fixed effects. Our results are largely consistent with the existing literature finding a positive relationship between CFP and CSP. Further, the time scale of the lagged effects seems plausible.

Fatores relevantes na geração de valor da marca PETROBRAS - um estudo com consumidores do segmento de combustíveis

The main purpose of this study is identify and select the assessment indicators for Brand Equity (BE), in the fuels segment. Within this perspective, we have chosen to assess the influences based on the following attributes: Brand Loyalty (Lealdade à Marca ( LM), Brand Recognition (Conhecimento da Marca ( CM), Perceived Quality (Qualidade Percebida ( QP) and Brand Associations (Associações à Marca ( AM), through perception of consumers in Rio de Janeiro and São Paulo States. Based on deep interviews in the qualitative phase and in surveys, in the quantitative phase, we began the data analysis through Multiple Linear Regression, according to Atilgan et al. (2005) model and Ha (1996). In the first model, the (CM) was considered non-explanatory to (BE¿, and we¿ve chosen to remove it from the following study model. In the final model, besides remaining variables, demographic variables were included, such as: Family Income (Renda Familiar ( RF) and Federation State (Estado da Federação ( EF), as independent variables. The main relevant findings, through perception of consumers, indicated that the (BE) of company analyzed was better ranked in Rio de Janeiro than in São Paulo and, as for the income, higher level classes tend to have less understanding on the value of (BE) of Petrobras BR. The study finish with mentions the contribution of the research and management implication, as well as limitations and suggestions to further researchers.