Search results for: innovative firm

Authors: Patricia Kopetz

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Too often our youngest children with disabilities receive diagnostic labels and accompanying treatment plans based upon perceptions that the children are of limited aptitude and/or ambition. However, children of varied-ability levels who are diagnosed with ‘multiple disabilities,’ can participate and excel in school-based instruction that aligns with their desires, interests, and fortitude – criteria components not foretold by scores on standardized assessments. The paper represents theoretical work in Special Education Innovative Instruction, and includes presenting research materials, some developed by the author herself. The majority of students with disabilities are now served in general education settings in the United States, embracing inclusive practices in our schools. ‘There is now a stronger call for special education to step up and improve efficiency, implement evidence-based practices, and provide greater accountability on key performance indicators that support successful academic and post-school outcomes for students with disabilities.’ For example, in the United States, the Office of Special Education Programs (OSEP) is focusing on results-driven indicators to improve outcomes for students with disabilities. School personnel are appreciating the implications of research-driven approaches for students diagnosed with multiple disabilities, and aim to align their practices toward such focus. The paper presented will provide updates on current theoretical principles and perspectives, and explore advancements in latest, evidence-based and results-driven instructional practices that can motivate children with multiple disabilities to advance their skills and engage in learning activities that as nonconventional, innovative, and proven successful.

Keywords: childhood special education, educational technology , innovative instruction, multiple disabilities

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Authors: Mohammad Shahid Jamil

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In this study we have investigated students’ learning and satisfaction in one of the course offered in the Foundation Program at Qatar University. We implied innovative teaching methodology that emphasizes on enhancing students’ thinking skills, decision making, and problem solving skills. Some interesting results were found which can be used to further improve the teaching methodology. To make sure the full use of technology in Foundation Program at Qatar University has started implementing new ways of teaching Math course by using Blackboard as an innovative interactive tool to support standard teaching such as Discussion board, Virtual class, and Study plan in My Math Lab “MML”. In MML Study Plan is designed in such a way that the student can improve their skills wherever they face difficulties with in their Homework, Quiz or Test. Discussion board and Virtual Class are collaborative learning tools encourages students to engage outside of class time. These tools are useful to share students’ knowledge and learning experiences, promote independent and active learning and they helps students to improve their critical thinking skills through the learning process.

Keywords: blackboard, discussion board, critical thinking, active learning, independent learning, problem solving

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Authors: Emma Garcia-Meca, Jennifer Martinez-Ferrero, Camino Ramon Llorens

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This paper provides insights into how narcissistic Chief Executive Officers (CEOs) influence the presence of women in top management teams (TMT). We also study whether a CEO's power and gender and the gender diversity of the firm's board moderate the relationship between CEO narcissism and TMT gender diversity. Our results reveal that narcissistic CEOs are less likely to support women in TMTs, confirming that CEO personality traits influence team structure. Further results suggest that this aversion increases as the CEO's power grows when female representation on boards decreases and when the CEO is a woman. This paper integrates theories that use the social psychology and upper echelon theories, offering a greater understanding of how CEO personality traits influence the structure of firms. We also contribute to the knowledge about how different governance characteristics can moderate the influence of narcissistic CEOs on women in TMTs, highlighting the relevance of governance traits that increase the effect of narcissism. The results demonstrate different female behavior toward promoting TMT gender equality depending on the specific position of women in the firm's hierarchy and their psychological attributes. We find that women directors support social identity values, and narcissistic female CEOs act like queen bees.

Keywords: gender diversity, board, corporate governance, female CEO, management

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Authors: Sohanur Rahman, Elisabeth Sinnewe, Larelle (Ellie) Chapple, Sarah Osborne

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Greater political attention to global climate change exposes firms to a higher level of political uncertainty, which can lead to adverse capital market consequences. However, a higher level of discourse on environment-specific political risk (EPR) between management and investors can mitigate information asymmetry, followed by less stock price crash risk. This study examines whether EPR discourse in discourse in the earnings conference calls (ECC) reduces firm-level stock price crash risk in the US market. This research also explores if adverse disclosures via media channels further moderates the association between EPR on crash risk. Employing a dataset of 28,933 firm-year observations from 2002 to 2020, the empirical analysis reveals that EPR discourse in ECC reduces future stock price crash risk. However, adverse disclosures via media channels can offset the favourable effect of EPR discourse on crash risk. The results are robust to the potential endogeneity concern in a quasi-natural experiment setting.

Keywords: earnings conference calls, environment, environment-specific political risk discourse, environmental disclosures, information asymmetry, reputation risk, stock price crash risk

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Authors: Moses Pinto, Ana Paula Monte

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The present research analyses the interactions between various categories of corporate social responsibility (CSR) that mediate the relationship between CSR and financial performance in Multinational Enterprises (MNE) in light of the present socio-political factors prevalent in the countries under observation. In the research it has been hypothesized that the absence of consensus in the empirical literature on the CSR–financial performance relationship may be explained by the existence of synergies (Complementarities) between the different CSR components. Upon investigation about whether such relationships exist, a final unbalanced panel sample of 1000 observations taken from 100 Multinational Enterprises per year functioning in the Schengen countries and one south east Asian country namely: India, over the span of 10 years i.e. from the year 2008 to 2018 has been analyzed. The empirical analysis used in the research methodology employs dynamic Panel Data in time series specifically, the system Generalized Method of Moments (GMM) which had been used to detect the varying degrees of relationships between the CSR and financial performance parameters in the background of the socio-political factors prevailing in the countries at the time and also taking into account the bilateral treaty obligations between the countries under observation. The econometric model has employed the financial ratio namely the Return on Assets (ROA) as an indicator of financial performance in order to gauge the internal performance and valuation of a firm as opposed to the Tobin’s Q that provides for the external evaluation of a firm’s financial performance which may not always be accurate. The various CSR dimensions have demonstrated significant correlations to the ‘ROA’ which include some negatively associated correlations and one positively associated correlation that is highly significant throughout the analysis of the observations, namely the correlation between the ‘ROA’ and the CSR dimension: ‘Environment’. The results provide a deeper insight in the synergistic CSR activities that managers could adapt into their Firm’s CSR strategy in order to enhance the ‘ROA’ and also to understand which interactions between the CSR dimensions can be adapted together due to their positively correlated association with each other and the ROA. The future lines of research would be inclined to investigate the effects of socio-political factors on the ROA of the MNEs through better designed econometric models.

Keywords: CSR, financial performance, complementarity, sociopolitical factors

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Authors: Luke Miller

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This paper develops an options pricing methodology to value strategic pricing strategies in the services sector. More specifically, this study provides a unifying taxonomy of current service sector pricing practices, frames these pricing decisions as strategic real options, demonstrates accepted option valuation techniques to assess service sector pricing decisions, and suggests future research areas where pricing decisions and real options overlap. Enhancing revenue in the service sector requires proactive decision making in a world of uncertainty. In an effort to strategically price service products, revenue enhancement necessitates a careful study of the service costs, customer base, competition, legalities, and shared economies with the market. Pricing decisions involve the quality of inputs, manpower, and best practices to maintain superior service. These decisions further hinge on identifying relevant pricing strategies and understanding how these strategies impact a firm’s value. A relatively new area of research applies option pricing theory to investments in real assets and is commonly known as real options. The real options approach is based on the premise that many corporate decisions to invest or divest in assets are simply an option wherein the firm has the right to make an investment without any obligation to act. The decision maker, therefore, has more flexibility and the value of this operating flexibility should be taken into consideration. The real options framework has already been applied to numerous areas including manufacturing, inventory, natural resources, research and development, strategic decisions, technology, and stock valuation. Additionally, numerous surveys have identified a growing need for the real options decision framework within all areas of corporate decision-making. Despite the wide applicability of real options, no study has been carried out linking service sector pricing decisions and real options. This is surprising given the service sector comprises 80% of the US employment and Gross Domestic Product (GDP). Identifying real options as a practical tool to value different service sector pricing strategies is believed to have a significant impact on firm decisions. This paper identifies and discusses four distinct pricing strategies available to the service sector from an options’ perspective: (1) Cost-based profit margin, (2) Increased customer base, (3) Platform pricing, and (4) Buffet pricing. Within each strategy lie several pricing tactics available to the service firm. These tactics can be viewed as options the decision maker has to best manage a strategic position in the market. To demonstrate the effectiveness of including flexibility in the pricing decision, a series of pricing strategies were developed and valued using a real options binomial lattice structure. The options pricing approach discussed in this study allows service firms to directly incorporate market-driven perspectives into the decision process and thus synchronizing service operations with organizational economic goals.

Keywords: option pricing theory, real options, service sector, valuation

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Authors: Peer M. Sathikh

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Creativity and innovation have become an important phenomenon today, whose potential is being realized through the success of Apple, Google/Android, Nike, Virgin, Dyson and other multinationals that are a household name today. Creativity and Innovation are, many times, used interchangeably, causing confusion as to what each represents and are capable of. Attempts to understand creativity and innovation clearly point to the difference, and at the same time, inter-dependency of one on the other. The assumption that having more creative personnel in a team will translate into innovation sooner or later seems generally counterproductive. What helps define the role of creativity and innovation in an organization and how can one build an innovative team? This paper points to the importance of understanding creative culture and innovation culture in order to bring about the desired innovation outcome and proposes a means to transform one to another as ideas move from mere ideas to useful innovation.

Keywords: creativity, innovation, creative culture, innovation culture, transformal operators

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Authors: Heeyong Noh, Seongryong Kang, Sungjoo Lee

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As the world becomes increasingly interconnected, firms have tried to explore market opportunities not only in the domestic market but also abroad. In particular, transactions of intangible assets in the global market now take on great importance. Accordingly, technology transfer activities such as patent licensing, copyright transfer, or workforce trainings which are considered significant to leverage an organization’s internal capabilities, are occurring more frequently and briskly across the world than ever before. Though a number of studies have addressed the issues regarding technology transfer, most of them have focused on university-industry technology transfer. Of course, some have investigated international technology transfer phenomenon but used patent citations data as a proxy. In order to understand the phenomena more clearly, it would be necessary to collect and analyze data that can measure technology transfer activities between firms more directly. Therefore, this study aims to examine the patterns of international trade in technology by employing data about international technology in-licensing activities in Korean firms. We also investigate the effect of international technology in-licensing strategy on a firm’s innovation performance. The research findings are expected to help R&D managers understand how firms have absorbed technological knowledge from foreign firms in the form of licensing and further develop effective international collaboration strategies. In addition, significant implications can be offered for political decision-making regarding technology trade within increasing international interconnections.

Keywords: international technology trade, technology trade effect, technology transfer, R&D managers

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Authors: Edson Vengesai

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Derivative products have become essential instruments in portfolio diversification, price discovery, and, most importantly, risk hedging. Derivatives are complex instruments; their valuation, volatility implications, and real impact on the underlying assets' behaviour are not well understood. Little is documented empirically, with conflicting conclusions on how these instruments affect firm risk exposures. Given the growing interest in using derivatives in risk management and portfolio engineering, this study examines the practical impact of derivative usage on the underlying stock price exposure and systematic risk. The paper uses data from South African listed firms. The study employs GARCH models to understand the effect of derivative uses on conditional stock volatility. The GMM models are used to estimate the effect of derivatives use on stocks' systematic risk as measured by Beta and on the total risk of stocks as measured by the standard deviation of returns. The results provide evidence on whether derivatives use is instrumental in reducing stock returns' systematic and total risk. The results are subjected to numerous controls for robustness, including financial leverage, firm size, growth opportunities, and macroeconomic effects.

Keywords: derivatives use, hedging, volatility, stock price exposure

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Authors: Mahfoud Djebbar

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The past two decades or so have witnessed phenomenal growth of the Islamic financial services industry. The whole industry has been thriving at about 15 percent per annum. This development entails the Islamic financial engineering, IFE, to some kind of crossroads, lagging behind its conventional counterpart. Therefore, IFE, and particularly traded products development, and in order to achieve its goals, two approaches are available, i.e., replicating engineering and innovative engineering. We also try to emphasis the innovative strategy since it guards the Islamic identity of different financial products and processes, and thereby, improves the creativity in the Islamic financial industry. The attempt also centers on sukukization (Islamic securitization), innovation, liquidity management, and risk management and hedging in the Islamic financial system. Finally, the challenges facing IFE are also addressed.

Keywords: islamic financial engineering, hedging and risk management, innovation, securitization, money market instruments, islamic capital markets

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Authors: Eugene Y. C. Wong

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The increased market competition, customer expectation, and warehouse operating cost in third-party logistics have motivated the continuous exploration in improving operation efficiency in warehouse logistics. Cargo tracing in ordering picking process consumes excessive time for warehouse operators when handling enormous quantities of goods flowing through the warehouse each day. Internet of Things (IoT) with mobile cargo tracing apps and database management systems are developed this research to facilitate and reduce the cargo tracing time in order picking process of a third-party logistics firm. An operation review is carried out in the firm with opportunities for improvement being identified, including inaccurate inventory record in warehouse management system, excessive tracing time on stored products, and product misdelivery. The facility layout has been improved by modifying the designated locations of various types of products. The relationship among the pick and pack processing time, cargo tracing time, delivery accuracy, inventory turnover, and inventory count operation time in the warehouse are evaluated. The correlation of the factors affecting the overall cycle time is analysed. A mobile app is developed with the use of MIT App Inventor and the Access management database to facilitate cargo tracking anytime anywhere. The information flow framework from warehouse database system to cloud computing document-sharing, and further to the mobile app device is developed. The improved performance on cargo tracing in the order processing cycle time of warehouse operators have been collected and evaluated. The developed mobile voice picking and tracking systems brings significant benefit to the third-party logistics firm, including eliminating unnecessary cargo tracing time in order picking process and reducing warehouse operators overtime cost. The mobile tracking device is further planned to enhance the picking time and cycle count of warehouse operators with voice picking system in the developed mobile apps as future development.

Keywords: warehouse, order picking process, cargo tracing, mobile app, third-party logistics

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Authors: Edward Pol

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All companies are confronted with the need to innovate in order to meet market demands. In so doing they are challenged with the dilemma of whether to aim to be first into the market with a new innovative product or to deliberately wait and learn from a pioneers’ mistakes; potentially avoiding higher risks. It is therefore important to critically understand from a first-mover advantage and disadvantage perspective the decision-making implications of defence industry transformation onset by an innovative paradigm shift. This paper will argue that the type of industry characteristics matter, especially when considering what role the clients play in the innovation process and what is their level of influence. Through investigation of qualitative case study research, this inquiry will focus on first mover advantages and first mover disadvantages with a view to establish practical and value-added academic findings by focusing on specific industries where the clients play an active role in cooperation with the supplier innovation. The resulting findings will help managers to mitigate risk in innovative technology introduction. A selection from several defense industry innovations is specifically chosen because of the client-supplier relationship typically differing from traditional first-mover research. In this instance, case studies will be used referencing vertical-takeoff-and-landing defence equipment innovations.

Keywords: innovation, pioneer, first-mover advantage, first-mover disadvantage, risk

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Authors: B. Adcock, H. van Rensburg

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Education is ever-changing to keep up with innovative technological development and the rapid acceleration of globalisation. This chapter introduces the historical development and transformation of teaching in distance education from correspondence to on-line learning in Queensland universities. It furthermore investigates changes to the delivery models of distance education that have impacted on teaching at tertiary level in Queensland, and reflects on the social changes that have taken place during the past 100 years. This includes an analysis of the following five different periods in time: Foundation period (1911-1919) including World War I; 1920-1939 including the Great Depression; 1940-1970s, including World War II and the post war reconstruction; and the current technological era (1980s to present). In Queensland, the concept of distance education was begun by the University of Queensland (UQ) in 1911, when it began offering extension courses. The introduction of modern technology, in the form of electronic delivery, dramatically changed tertiary distance education due to political initiatives. The inclusion of electronic delivery in education signifies change at many levels, including policy, pedagogy, curriculum and governance. Changes in delivery not only affect the way study materials are delivered, but also the way courses are be taught and adjustments made by academics to their teaching methods.

Keywords: distance education, innovative technological development, on line education, tertiary education

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Authors: Enrique Claver Cortés, Bartolomé Marco Lajara, Eduardo Sánchez García, Pedro Seva Larrosa, Encarnación Manresa Marhuenda, Lorena Ruiz Fernández, Esther Poveda Pareja

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In recent decades, the analysis of the effects of clustering as an essential factor for the development of innovations and the competitiveness of enterprises has raised great interest in different areas. Nowadays, companies have access to almost all tangible and intangible resources located and/or developed in any country in the world. However, despite the obvious advantages that this situation entails for companies, their geographical location has shown itself, increasingly clearly, to be a fundamental factor that positively influences their innovative performance and competitiveness. Industrial clusters could represent a unique level of analysis, positioned between the individual company and the industry, which makes them an ideal unit of analysis to determine the effects derived from company membership of a cluster. Also, the absorptive capacity (hereinafter 'AC') can mediate the process of innovation development by companies located in a cluster. The transformation and exploitation of knowledge could have a mediating effect between knowledge acquisition and innovative performance. The main objective of this work is to determine the key factors that affect the degree of generation and use of knowledge from the environment by companies and, consequently, their innovative performance and competitiveness. The elements analyzed are the companies' membership of a cluster and the AC. To this end, 30 most relevant papers published on this subject in the "Web of Science" database have been reviewed. Our findings show that, within a cluster, the knowledge coming from the companies' environment can significantly influence their innovative performance and competitiveness, although in this relationship, the degree of access and exploitation of the companies to this knowledge plays a fundamental role, which depends on a series of elements both internal and external to the company.

Keywords: absorptive capacity, clusters, innovation, knowledge

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Authors: Mateusz Janas

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Innovative implementations in the micro, small, and medium-sized enterprises (MSME) sector are among the essential activities considering the current market realities, technological advancements, and digitization trends. MSMEs play a crucial role and significantly influence the economic conditions of countries, as their competitiveness directly impacts the global economy. Business development and investment in innovation and technology are integral parts of every modern enterprise's strategy, seeking to maintain and achieve a desired competitive position. The instability of the socio-economic environment, along with contemporary changes in artificial intelligence implementation and digitization, requires businesses to adopt increasingly newer solutions and actions. Enterprises must strive to survive in the global market and build competitive positions, especially in uncertain conditions. Being aware of the significance of innovative actions is crucial for MSMEs as it enables them to enhance their operations and expand their scope. It is essential for managers and executives of MSMEs to be focused on development and innovation, as their approach will also impact their employees, emphasizing results and maximizing the company's value. Managers of MSMEs must be aware of various threats, costs, opportunities, and gains that can arise from implementing new technical and organizational solutions. Businesses must view development as an integral part of their strategy and continuously strive for improvement.

Keywords: innovation, SME, develop, management

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Authors: S. K. Ashiquer Rahman

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The paper concentrates on the importance of Sustainable Campus Strategies, emphasizing the significance of mobilizing Innovative technological tools for constructing effectiveness of higher education strategy and institutional cooperation for sustainable campus at the university level and preparing the university’s authority to face the upcoming higher education strategy and institutional cooperation difficulties to the Sustainable Campus Plan. Within a framework of Sustainable Campus Strategies and institutional cooperation, the paper discusses the significance of a set of reference points that will lead to operational activities for multi-stakeholder multi-criteria evaluation of Higher Education and Research Institutions relative to the Sustainable Campus criteria and potential action plan for the University’s Strategy and Institutional Cooperation. It makes mention of the emergence of the effectiveness of Higher Education Strategy and Institutional Cooperation as well as the necessity of mobilizing innovative technological methods and tools for constructing the effectiveness of this Process. The paper outlines the conceptual framing of a Sustainable Campus Strategy, Institutional Cooperation and Action Plan for a sustainable campus. Optimistically, these will be a milestone in higher education, a pathway to meet the imminent Sustainable Campus Strategy and Institutional Cooperation of the completive world, and be able to manage the required criteria for a Sustainable University.

Keywords: higher education strategy, institutional cooperation, sustainable campus, multi-criteria evaluation, innovative method and tools

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Authors: Sevde D. Karayel, Ediz Atmaca

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Supplier selection subject is vital because of development competitiveness and performance of firms which have right, rapid and with low cost procurement. Considering the fact that competition between firms is no longer on their supply chains, hence it is very clear that performance of the firms’ not only depend on their own success but also success of all departments in supply chain. For this purpose, firms want to work with suppliers which are cost effective, flexible in terms of demand and high quality level for customer satisfaction. However, diversification and redundancy of their expectations from suppliers, supplier selection problems need to be solved as a hard problem. In this study, supplier selection problem is discussed for critical piece, which is using almost all production of products in and has troubles with lead time from supplier, in a firm that produces medical devices. Analyzing policy in the current situation of the firm in the supplier selection indicates that supplier selection is made based on the purchasing department experience and other authorized persons’ general judgments. Because selection do not make based on the analytical methods, it is caused disruptions in production, lateness and extra cost. To solve the problem, AHP and TOPSIS which are multi-criteria decision making techniques, which are effective, easy to implement and can analyze many criteria simultaneously, are used to make a selection among alternative suppliers.

Keywords: AHP-TOPSIS methods, multi-criteria decision making, supplier selection problem, supply chain management

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Authors: Natasha Hazarika, Xiaoling Zhang

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Eco- innovations, unlike regular innovations, are not self-enforcing and are associated with the double externality problem. Therefore, it is emphasized that eco-innovations need government. intervention in the form of supportive policies on priority. Off late, factors like consumer demand, technological advancement as well as the competitiveness of the firms have been considered as equally important. However, the interaction among these driving forces has not been fully traced out. Also, the theory on eco-innovation is found to be at a nascent stage which does not resonate with its dynamics as it is traditionally studied under the neo- classical economics theory. Therefore, to begin with, insights for this research have been derived from the merits of ‘neo- classical economics’, ‘evolutionary approach’, and the ‘resource based view’ which revealed the issues pertaining to technological system lock- ins and firm- based capacities which usually remained undefined by the neo classical approach; it would be followed by determining how the policies (in the national level) and their instruments are designed in order to motivate firms to eco-innovate, by analyzing the innovation ‘friendliness’ of the policy style and the policy instruments as per the indicators provided in innovation literature by means of document review (content analysis) of the relevant policies introduced by the Chinese government. The significance of theoretical analysis lies in its ability to show why certain practices become dominant irrespective of gains or losses, and that of the policy analysis lies in its ability to demonstrate the credibility of govt.’s sticks, carrots and sermons for eco-innovation.

Keywords: firm competency, eco-innovation, policy, theory

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Authors: Henry Kiptum Yatich, Ronald Chepkilot, Aquilars Mutuku Kalio

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Studies on energy management have focused on environmental conservation, reduction in production and operation expenses. However, transferring gains of energy management practices to competitive advantage is importance to manufacturers in Kenya. Success in managing competitive advantage arises out of a firm’s ability in identifying and implementing actions that can give the company an edge over its rivals. Manufacturing firms in Kenya are the highest consumers of both electricity and petroleum products. In this regard, the study posits that transfer of the gains of energy management practices to competitive advantage is imperative. The study was carried in Nairobi and its environs, which hosts the largest number of manufacturers. The study objectives were; to determine the level of implementing energy management regulations on sustaining competitive advantage, to determine the level of implementing company energy management policy on competitive advantage, to examine the level of implementing energy efficient technology on sustaining competitive advantage, and to assess the percentage energy expenditure on sustaining competitive advantage among manufacturing firms. The study adopted a survey research design, with a study population of 145,987. A sample of 384 respondents was selected randomly from 21 proportionately selected firms. Structured questionnaires were used to collect data. Data analysis was done using descriptive statistics (mean and standard deviations) and inferential statistics (correlation, regression, and T-test). Data is presented using tables and diagrams. The study found that Energy Management Regulations, Company Energy Management Policies, and Energy Expenses are significant predictors of Competitive Advantage (CA). However, Energy Efficient Technology as a component of Energy Management Practices did not have a significant relationship with Competitive Advantage. The study revealed that the level of awareness in the sector stood at 49.3%. Energy Expenses in the sector stood at an average of 10.53% of the firm’s total revenue. The study showed that gains from energy efficiency practices can be transferred to competitive strategies so as to improve firm competitiveness. The study recommends that manufacturing firms should consider energy management practices as part of its strategic agenda in assessing and reviewing their energy management practices as possible strategies for sustaining competitiveness. The government agencies such as Energy Regulatory Commission, the Ministry of Energy and Petroleum, and Kenya Association of Manufacturers should enforce the energy management regulations 2012, and with enhanced stakeholder involvement and sensitization so as promote sustenance of firm competitiveness. Government support in providing incentives and rebates for acquisition of energy efficient technologies should be pursued. From the study limitation, future experimental and longitudinal studies need to be carried out. It should be noted that energy management practices yield enormous benefits to all stakeholders and that the practice should not be considered a competitive tool but rather as a universal practice.

Keywords: energy, efficiency, management, guidelines, policy, technology, competitive advantage

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Authors: M. Kolotylo, H. Zheng, R. Parente, R. Dahiya

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Large number of organizations, frequently motivated by budget and cost cuts, outsource their Information Technology (IT) positions every year. Although the objective of reduction in financial obligations is often not accomplished, many buyer companies still manage to benefit from outsourcing projects. Knowledge Transfer (KT), being one of the major processes that take place during IT outsourcing partnership, may exert a strong impact on the performance of the parties involved, particularly that of the buyer. Research, however, lacks strong conceptual basis for the possible benefits that KT from supplier may bring to the buyer; and for the mechanisms that may be adopted by the buyer to maximize such benefit. This paper aims to fill this gap by proposing a conceptual framework of organizational learning and development of dynamic capabilities enabled by KT from the supplier to the buyer. The study examines buyer-supplier relationships in the context of IT outsourcing transactions, and theorizes how KT from the supplier to the buyer helps the performance of the buyer. It warrants that more research is carried out in order to explicate and provide evidence regarding the role that KT plays in strategic improvements for the buyer. The paper proposes to take up a two-fold approach to the research: conceptual development that utilizes logical argumentation and interpretive historical research, as well as a qualitative case study which aims to capture and understand the complex processes involved. Thus, the study provides a comprehensive visualization of the dynamics of the conditions under which participation in IT outsourcing partnership might be of benefit to the buyer company. The framework demonstrates the mechanisms involved in buyer’s achievement of strategic alignment through organizational learning enabled by KT from the supplier. It highlights that organizational learning involves a balance between exploitation of assets and exploration of new possibilities, and further notes that the dynamic capabilities mediate the effect of organizational learning on firm performance. The paper explicates in what ways managers can leverage outsourcing projects to execute strategy, which would enable their organization achieve better performance. The study concludes that organizational learning enables the firm to develop IT capabilities of strategic planning, IT integration, and IT relationships in the outsourcing context, and that IT capabilities developed through the organizational learning would help the firm in achieving strategic alignment.

Keywords: dynamic capabilities, it outsourcing, knowledge transfer, organizational learning, strategic alignment

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Authors: Mary David, Denis Basila

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This study assessed the Impact of Board Composition on the Performance of Listed Deposit Money Banks in Nigeria. A sample of ten (10) deposit money banks formed the sample of this study. Board size, gender diversity, and board independence were used as the independent variables, and firm size as a control variable, whiles the bank performance was proxy with Tobin’s Q (TQ) as the dependent variable. Secondary data was collected from secondary source through the annual report and account of the banks and was analyzed through the support of STATA 14 versions. Descriptive statistics, correlation matrix, and OLS multiple regression model were adopted for the study. Breusch and pagan lagrangian multiplier test for random effect was conducted. The findings of the study reveal that board size has positive and significant impact on Tobin’s Q, gender diversity has positive and significant impact on Tobin’s Q, while board independent had a negative and nonsignificant influence on the Tobin’s Q, Similarly, firm size was found to have a negative and nonsignificant impact on Tobin’s Q of the study banks. This study recommended that policy makers, stakeholders, and corporate managers of deposit money banks of Nigeria and related industries are encouraged to adopt board sizes and gender diversity that impact positively on bank performance.

Keywords: board composition, performance, deposit money banks, nigeria

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Authors: Lina Najafian, Hamidreza Vakilifard

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The present study focused on the relationship between the quality of accruals and non-systematic risk. The independent study variables included the ability of accruals, the information content of accruals, and amount of discretionary accruals considered as accruals quality measures. The dependent variable was non-systematic risk based on the Fama and French Three Factor model (FFTFM) and the capital asset pricing model (CAPM). The control variables were firm size, financial leverage, stock return, cash flow fluctuations, and book-to-market ratio. The data collection method was based on library research and document mining including financial statements. Multiple regression analysis was used to analyze the data. The study results showed that there is a significant direct relationship between financial leverage and discretionary accruals and non-systematic risk based on FFTFM and CAPM. There is also a significant direct relationship between the ability of accruals, information content of accruals, firm size, and stock return and non-systematic based on both models. It was also found that there is no relationship between book-to-market ratio and cash flow fluctuations and non-systematic risk.

Keywords: accruals quality, non-systematic risk, CAPM, FFTFM

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Authors: Cory Callahan

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Here the author synthesizes findings and implications from two research studies that comprise a continuing line of inquiry into the potential of an innovative professional development program to help in-service teachers understand and implement a complex model of social studies instruction. The paper specifically explores the question: To what degree can a collaborative professional development program centered around innovative curriculum materials help social studies teachers understand and implement a powerful social studies approach? Findings suggest the teachers increasingly incorporated substantive thinking (i.e., second-order historical domain knowledge) into their respective practice and they facilitated students’ use of historical photographs as evidence to begin to answer a compelling question. The teachers also began to effectively support students’ abilities to make claims about the past. Implications include the foregrounding of high-quality questions during planning and the need for explicit guidance in the form of structures and procedures (i.e., scaffolds) to help teachers systematically review students’ work products. The work shared here may contribute to scholarship that posits explanations for why teacher-support is routinely ineffectual and suggests ways to provide substantive collaborative support for in-service social studies teachers.

Keywords: educative curriculum, social studies, professional development, lesson study

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Authors: Ali Hojati Najafabadi, Mohamad Hosein Rahmati, Seyed Ali Madanizadeh

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Governments execute energy subsidy reforms by either increasing energy prices or reducing energy price dispersion. These policies make less use of energy per plant (intensive margin), vary the total number of firms (extensive margin), promote technological progress (technology channel), and make additional resources to redistribute (resource channel). We estimate a structural dynamic firm model with endogenous technology adaptation using data from the manufacturing firms in Iran and a country ranked the second-largest energy subsidy plan by the IMF. The findings show significant dynamics and distributional effects due to an energy reform plan. The price elasticity of energy consumption in the industrial sector is about -2.34, while it is -3.98 for large firms. The dispersion elasticity, defined as the amounts of changes in energy consumption by a one-percent reduction in the standard error of energy price distribution, is about 1.43, suggesting significant room for a distributional policy. We show that the intensive margin is the main driver of energy price elasticity, whereas the other channels mostly offset it. In contrast, the labor response is mainly through the extensive margin. Total factor productivity slightly improves in light of the reduction in energy consumption if, at the same time, the redistribution policy boosts the aggregate demands.

Keywords: energy reform, firm dynamics, structural estimation, subsidy policy

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Authors: Tris Kee

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As the urban design discipline develops renewed interests in participatory design and collaborative place-making, it becomes critical to review the potential and limitations in current processes to ensure a sustainable method for future development.This paper explores how collaborative design can be a key to future sustainable urban development through two case studies from Asia.The process involves a multi-disciplinary collaboration and an innovative learning process by sharing ideas as well as careful consideration on social, economic and political circumstances among government and district stakeholders.This intrinsic proposition of innovative participatory planning implies interdisciplinary collaboration between professionals and local residents to integrate knowledge into new urban place-making thinking.Design innovation in contemporary society can manifest itself in the discourse sustainable urban development by bottom-up planning and community driven design. This paper examines the emerging design pedagogy which promotes interdisciplinary coalition of professionals and local stakeholders in community development as an innovative design rubric to create a sustainable urban approach.Through two case studies in Hong Kong, this paper reviews and critically evaluates the process of how the notion of sustainable development in contemporary urban planning theory is underpinned by the collaborative design practice.

Keywords: collaborative design, design innovation, sustainable development, urban development

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Authors: Evgeni Baratashvili, Anzor Abralava, Rusudan Kutateladze, Nino Pailodze, Irma Makharashvili, Larisa Takalandze

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Sinergy as a neological term is reflected in modern sciences. It can be found in the various fields of science including the humanities and technical sciences. Among them are biology and medicine, philology, economy and etc. Synergy is the received surplus of marginal high total effect of the groups, consolidated by one common idea, received through endeavored applies of their combined tools, via obtained effect of the separate independent actions of the groups. In the conditions of market economy, according the terms of new communication terminology, synergy effects on management and marketing successfully as well as on purity defense of native language. The well-known scientist’s and public figure’s Academician I. Prangishvili’s works are especially valuable in this aspect. In our opinion the entropy research is linked to his name in our country. In modern economy, the current qualitative changes shows us that the most number of factors and issues have been regrouped. They have a great influence and even define the economic development. The declining abilities of traditional recourses of economic growth have been related on the use of their physical abilities and their moving closer to the edge. Also it is related on the reduced effectiveness, which at the same time increases the expenditures. This means that the leading must be the innovative process system of products and services in the economic growth model. In our opinion the above mentioned system is distinguished with the synergistic approach. It should be noted that the main components of the innovative system are technological, scientific and scientific-technical, social-organizational, managerial and cognitive changes. All of them are reflected on scientific works and inventions in the proper dosages, in know-how and material source. At any stage they create the reproduction cycle. The innovations are different from each other by technologies, origination, design, innovation and quality, subject-content structure, by the the spread of economic processes and the impact of the level of it’s distribution. We have presented a generalized statement of an innovative approach, which is not a single act of innovation but it is also targeted system of the development, implementation, reconciling-exploitation, production, diffusion and commercialization of news. The innovative approaches should be considered as the creation of news, in-depth process of creativity as an innovative alternative to the realization of innovative and entrepreneurial efforts and measures, in order to meet the requirements of the permanent process.

Keywords: economic development, leading process, neological term, synergy

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Authors: Radostina Popova

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The analysis of the competitiveness of the innovation of furniture enterprises in Bulgaria requires distinguishing types of innovation and innovation activities to determine the results. Main object of the analysis are the results of innovative activities with a high degree of novelty that determine competitiveness and high innovation. It is focused on innovative research in the EU in the last three-year period and its level is directly related to the forms of protection of industrial property, which enterprises use. The results are from studies of innovation of furniture enterprises in Bulgaria during the period - 2006-2012 on a sample of more than 600 furniture companies. The results from studies are focused on product and process (technological) innovations with a high degree of novelty.

Keywords: innovations, competitiveness, furniture enterprises, Bulgaria

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Authors: Akhatjon Nasullaev, Raffaella Manzini, Vincent Frigant

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The prior research largely discussed open innovation practices both in large and small and medium-sized enterprises (SMEs). Open Innovation compels firms to observe and analyze the external environment in order to tap new opportunities for inbound and/or outbound flows of knowledge, ideas, work in progress innovations. As SMEs are different from their larger counterparts, they face several limitations in utilizing open innovation activities, such as resource scarcity, unstructured innovation processes and underdeveloped innovation capabilities. Technology intelligence – the process of systematic acquisition, assessment and communication of information about technological trends, opportunities and threats can mitigate this limitation by enabling SMEs to identify technological and market opportunities in timely manner and undertake sound decisions, as well as to realize a ‘first mover advantage’. Several studies highlighted firm-level barriers to successful implementation of open innovation practices in SMEs, namely challenges in partner selection, intellectual property rights and trust, absorptive capacity. This paper aims to investigate the question how technology intelligence can be useful for SMEs to overcome the barriers to effective open innovation. For this, we conduct a case study in four Estonian life-sciences SMEs. Our findings revealed that technology intelligence can support SMEs not only in inbound open innovation (taking into account inclination of most firms toward technology exploration aspects of open innovation) but also outbound open innovation. Furthermore, the results of this study state that, although SMEs conduct technology intelligence in unsystematic and uncoordinated manner, it helped them to increase their innovative performance.

Keywords: technology intelligence, open innovation, SMEs, life sciences

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Authors: Ichiro Takahashi

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One conundrum that macroeconomic theory faces is to explain how an economy can revive from depression, in which the aggregate demand has fallen substantially below its productive capacity. This paper examines an autonomous stabilizing mechanism using an agent-based Wicksell-Keynes macroeconomic model. This paper focuses on the effects of the number of firms and the length of the gestation period for investment that are often assumed to be one in a mainstream macroeconomic model. The simulations found the virtual economy was highly unstable, or more precisely, collapsing when these parameters are fixed at one. This finding may even suggest us to question the legitimacy of these common assumptions. A perpetual decline in capital stock will eventually encourage investment if the capital stock is short-lived because an inactive investment will result in insufficient productive capacity. However, for an economy characterized by a roundabout production method, a gradual decline in productive capacity may not be able to fall below the aggregate demand that is also shrinking. Naturally, one would then ask if our economy cannot rely on an external stimulus such as population growth and technological progress to revive investment, what factors would provide such a buoyancy for stimulating investments? The current paper attempts to answer this question by employing the artificial macroeconomic model mentioned above. The baseline model has the following three features: (1) the multi-period gestation for investment, (2) a large number of heterogeneous firms, (3) demand-constrained firms. The instability is a consequence of the following dynamic interactions. (a) A multiple-period gestation period means that once a firm starts a new investment, it continues to invest over some subsequent periods. During these gestation periods, the excess demand created by the investing firm will spill over to ignite new investment of other firms that are supplying investment goods: the presence of multi-period gestation for investment provides a field for investment interactions. Conversely, the excess demand for investment goods tends to fade away before it develops into a full-fledged boom if the gestation period of investment is short. (b) A strong demand in the goods market tends to raise the price level, thereby lowering real wages. This reduction of real wages creates two opposing effects on the aggregate demand through the following two channels: (1) a reduction in the real labor income, and (2) an increase in the labor demand due to the principle of equality between the marginal labor productivity and real wage (referred as the Walrasian labor demand). If there is only a single firm, a lower real wage will increase its Walrasian labor demand, thereby an actual labor demand tends to be determined by the derived labor demand. Thus, the second positive effect would not work effectively. In contrast, for an economy with a large number of firms, Walrasian firms will increase employment. This interaction among heterogeneous firms is a key for stability. A single firm cannot expect the benefit of such an increased aggregate demand from other firms.

Keywords: agent-based macroeconomic model, business cycle, demand constraint, gestation period, representative agent model, stability

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Authors: Rasim M. Alguliyev, Alovsat G. Aliyev, Roza O. Shahverdiyeva

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The paper investigated the role and position of high techno-parks, which is one of the priorities of Azerbaijan. The main objectives, functions and features of the establishment of high-techno parks, as well as organization of the activity of the structural elements, which are the parking complex and their interactions were analyzed. The development, organization and management of high techno-parks were studied. The key features and functions of innovative structures’ management were explained. The need for a comprehensive management system for the development of high-techno parks was emphasized and the major problems were analyzed. In addition, the methods were proposed for the development of information systems supporting decision making in systematic and sustainable management of the parks.

Keywords: innovative development, innovation processes, innovation economy, innovation infrastructure, high technology park, efficient management, management decisions, information insurance

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