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Milk or Wine: Mutual Funds’ (Dis)economies of Life 牛奶还是葡萄酒:共同基金的(非)生命经济
Pub Date : 2015-07-20 DOI: 10.2139/ssrn.2631615
Laura K. Dahm, Christoph Sorhage
Mutual fund investors are supposed to make long-term investments instead of striving for quick fortunes. However, the dynamics of funds' ability to generate abnormal returns over their lifetime is still an unattended issue. This paper provides evidence on the liability of newness and liability of aging theory that funds' investment skill changes to the positive or negative over time. Our results find strong support for an underperformance of mature funds consistent with the liability of aging theory. Furthermore, the observed diseconomies of life result from older funds pursuing less innovative investment strategies. The lack of innovation manifests in less performance enhancing trading and fewer investments in hard-to-value stocks. Still, we provide evidence that less performance sensitive as well as non-institutional investors seek investments in mature funds and that they benefit from more stable investment styles and performance outcomes.
共同基金投资者应该进行长期投资,而不是追求一夜暴富。然而,基金在其生命周期内产生异常回报的能力的动态,仍然是一个无人关注的问题。本文对基金投资技能随时间变化的新责任理论和老化责任理论提供了证据。我们的研究结果有力地支持了与老化负债理论相一致的成熟基金表现不佳。此外,观察到的生命不经济是由于较老的基金追求较少创新的投资策略。缺乏创新表现为业绩提升交易减少,对难以估值的股票的投资减少。尽管如此,我们提供的证据表明,业绩敏感性较低以及非机构投资者寻求成熟基金的投资,并且他们从更稳定的投资风格和业绩结果中受益。
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引用次数: 1
Understanding Commercialization of Technological Innovation: Taking Stock and Moving Forward 理解技术创新的商业化:评估和前进
Pub Date : 2015-06-01 DOI: 10.1111/radm.12068
Avimanyu Datta, D. Mukherjee, Len Jessup
The commercialization of technological innovation, which is key to entrepreneurial success, represents a combination of several entrepreneurial activities. Building on research in management, strategy, entrepreneurship, and economics, this research summarizes 194 articles from 62 journals, categorizing them into six broad entrepreneurial activity themes: sources of innovations, types of innovation, market entry competence and feasibility, protection, development, and deployment. This review and synthesis suggest a framework of commercialization and an agenda for future research along with recommendations and guidance for future research. The proposed agenda provides topics and research questions for research, as well as related recommendations regarding the study and practice of the commercialization of innovation.
技术创新的商业化是企业成功的关键,它是若干企业活动的结合。在管理学、战略、企业家精神和经济学研究的基础上,本研究总结了来自62种期刊的194篇文章,将其分为六大创业活动主题:创新来源、创新类型、市场进入能力和可行性、保护、发展和部署。这一综述和综合提出了商业化框架和未来研究议程,以及对未来研究的建议和指导。拟议的议程为研究提供了主题和研究问题,以及有关创新商业化的研究和实践的相关建议。
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引用次数: 82
Theory and Practice-Dichotomy & Resolution. And the Validation of Multi-Paradigmatic Organization Studies 理论与实践——二分法与解决方案。以及多范式组织研究的有效性
Pub Date : 2014-12-20 DOI: 10.2139/ssrn.2541201
K. Gopalan
1. This is a paper where what is unsaid is as much important to me as what is said. Ultimately, I would say it made me think with a hammer, but still left me frustrated. The theory-practice debate has always engaged me as a practicing administrator, but I could hold on fondly to my prejudices until I began to write this.2. I have tried to answer two questions: 1. Are multiple paradigms good for organizational theory? 2. Is theory valid for its own sake or for its relevance and usefulness to the practitioner? I have begun by trying to see the reasons for the theory-practice divide: Theory does not capture complexity, the heterogeneous nature of the practitioner audience, theory’s emphasis on what ‘ought to be’ than process and politics, distance from local reality, and theory creating theoreticians, not actors.3. In Part II, I have tried to see if a bridge can be built. History, Globalization and the emergence of Professional disciplines (management, public policy) seem to be closing the gap. Part III is a discussion of Professional/Practitioner Rationality vis-a-vis Technical Rationality and the nature of Professional theory. In Part IV I have concluded that given the complex nature of reality, and given that theory and practice validate each other; a multi-paradigmatic discipline like organizational studies is more equipped to provide answers than other mono-paradigmatic sciences.4. Early on, I began to have doubts (a) Is it not better to leave theory free to find validation in itself than in practice? (b) Is it the practitioner’s responsibility to sift and find answers or the theorist’s to cater to practicality? (c) Is it good for a discipline to be self engaged or engage with the world outside itself? As I read more and more to find clarity, what I found were heartening echoes in literature rather than answers. My questions remain, but I hope I am a bit wiser now in not having all the answers.
1. 在这篇论文中,没说出来的内容和说出来的内容对我来说同样重要。最终,我会说它让我用锤子思考,但仍然让我感到沮丧。理论与实践的争论一直让我作为一名实践管理人员着迷,但在我开始写这篇文章之前,我可以固执地坚持自己的偏见。我试图回答两个问题:1。多范式对组织理论有好处吗?2. 理论是因其本身而有效,还是因其对实践者的相关性和有用性而有效?我首先试图找出理论-实践鸿沟的原因:理论没有捕捉到复杂性,实践者受众的异质性,理论强调“应该是什么”而不是过程和政治,与当地现实的距离,理论创造理论家,而不是行动者。在第二部分中,我试着看看是否可以建立一座桥梁。历史、全球化和专业学科(管理、公共政策)的出现似乎正在缩小这一差距。第三部分是对专业/从业者理性与技术理性的对比以及专业理论的本质的讨论。在第四部分中,我得出结论,鉴于现实的复杂性,鉴于理论和实践相互证实;像组织研究这样的多范式学科比其他单范式科学更有能力提供答案。一开始,我就开始怀疑(a)让理论自由地去寻找验证,不是比在实践中找到验证更好吗?(b)是实践者的责任是筛选和寻找答案,还是理论家的责任是迎合实用性?(c)对一门学科来说,是自我参与好,还是与外部世界接触好?当我越来越多地阅读以寻求清晰时,我在文学中找到了令人振奋的回响,而不是答案。我的问题仍然存在,但我希望我现在更明智一点,因为我没有所有的答案。
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引用次数: 0
Messy Talk in Virtual Teams: Achieving Knowledge Synthesis through Shared Visualizations 虚拟团队中的混乱对话:通过共享可视化实现知识综合
Pub Date : 2014-07-03 DOI: 10.1061/(ASCE)ME.1943-5479.0000301
C. Dossick, Anne Anderson, R. Azari, Josh Iorio, Gina Neff, J. Taylor
Engineering teams collaborating in virtual environments face many technical, social and cultural challenges. In this paper we focus on distributed teams making joint unanticipated discoveries in virtual environments. We operationalize Dossick and Neff’s definition of “Messy Talk” as a process in which teams mutually discover issues, critically engage in clarifying and finding solutions to the discovered issues, exchange their knowledge, and resolve the issue. Can globally distributed teams use “Messy Talk” via virtual communication technology? We analyzed the interactions of four distributed student teams collaborating on a complex design and planning project using building information models (BIM) and the CyberGRID, a virtual world specifically developed for collaborative work. Their interactions exhibited all four elements of Messy Talk, even though resolution was the least common. Virtual worlds support real time joint problem solving by 1) providing affordances for talk mediated by shared visualizations, 2) supporting team perceptions of building information models that are mutable and 3) allowing transformations of those models while people were together in real time. Our findings suggest that distributed team collaboration requires technologies that support Messy Talk -- and iterative trial-and-error -- for complex multidimensional problems.
在虚拟环境中协作的工程团队面临许多技术、社会和文化方面的挑战。在本文中,我们关注分布式团队在虚拟环境中进行联合意外发现。我们将Dossick和Neff对“混乱谈话”的定义作为一个过程,在这个过程中,团队相互发现问题,批判性地澄清和寻找所发现问题的解决方案,交流他们的知识,并解决问题。全球分布的团队可以通过虚拟通信技术使用“凌乱谈话”吗?我们使用建筑信息模型(BIM)和CyberGRID(一个专门为协作工作开发的虚拟世界)分析了四个分布式学生团队在复杂设计和规划项目上的相互作用。他们的互动展示了凌乱谈话的所有四个要素,尽管解决是最不常见的。虚拟世界通过以下方式支持实时联合问题的解决:1)为由共享可视化介导的谈话提供支持;2)支持构建可变信息模型的团队感知;3)当人们实时在一起时,允许对这些模型进行转换。我们的发现表明,分布式团队协作需要支持杂乱谈话的技术——以及迭代的试错——来解决复杂的多维问题。
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引用次数: 35
Centralize or Decentralize? How Productivity Shocks Affect Authority in Organizations 中心化还是去中心化?生产力冲击如何影响组织中的权威
Pub Date : 2014-05-01 DOI: 10.2139/ssrn.2127229
Umberto Garfagnini
This paper identifies how productivity shocks propagate within a multi-divisional organization and induce organizational change. Key ingredients are the presence of cross-divisional spillovers, background uncertainty associated with technology choices, and local information about the riskiness of innovation. When authority is decentralized and spillovers are small, a shock that increases the productivity gap across divisions increases the relative performance of centralization over decentralization and can lead the organization to centralize authority. Centralization: i) helps to curb the innovative ambitions of the manager of the most productive division, which hurt spillovers; and ii) improves communication within the organization when communication is most needed.
本文确定了生产力冲击如何在多部门组织内传播并引发组织变革。关键因素是存在跨部门溢出效应、与技术选择相关的背景不确定性以及有关创新风险的本地信息。当权力分散且溢出效应较小时,增加部门间生产率差距的冲击会增加集权优于分权的相对绩效,并可能导致组织集中权力。集中化:i)有助于抑制最具生产力部门管理者的创新野心,这会损害溢出效应;ii)在最需要沟通的时候,改善组织内部的沟通。
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引用次数: 0
The Role of Creativity in Development of Innovation in Tourism 创意在旅游创新发展中的作用
Pub Date : 2014-03-17 DOI: 10.7341/2013911
Elif Bascavusoglu-Moreau, S. Kopera, E. Wszendybył-Skulska
Creativity, innovation and entrepreneurship are slogans that have become an integral part of modern tourism economy. Creativity and innovation of tourism economy as well as the meaning of creativity in tourism business are intensely discussed. Today, creativity is being frequently analyzed as a basic feature of actions performed on a daily basis in terms of both personal and professional life, a feature that every employee is required to possess. It means that employers and, above all, the education system must feel it necessary to develop certain conditions in which human creativity can be shaped, which is understood as a system that enables us to adjust to constantly changing environment and take a risk to apply new solutions to particular problems. The article aims to present the role of creativity in development of innovation in tourism as well as factors that improve it. The analytical part of the article will concentrate on the analysis of, inter alia, two significant groups of creativity determinants: factors related to availability of qualified staff on the local labor market as well as info-structure of tourism businesses.
创意、创新、创业是现代旅游经济不可或缺的口号。对旅游经济中的创意与创新以及创意在旅游经营中的意义进行了深入探讨。今天,创造力经常被分析为个人生活和职业生活中日常行为的基本特征,是每个员工都需要具备的特征。这意味着雇主,尤其是教育系统必须感到有必要创造一些条件来塑造人类的创造力,这被理解为一种使我们能够适应不断变化的环境并冒险将新的解决方案应用于特定问题的系统。本文旨在阐述创意在旅游创新发展中的作用以及提升创意的因素。本文的分析部分将集中分析两组重要的创造力决定因素:与当地劳动力市场上合格工作人员的可用性有关的因素以及旅游企业的基础结构。
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引用次数: 7
Stiftungen Und Soziale Innovationen (Foundations and Social Innovation) 捐赠基金和社会创新(喷泉和社会创新)
Pub Date : 2014-03-09 DOI: 10.2139/ssrn.2464232
S. Bethmann
German Abstract: Der folgende Beitrag geht der Frage nach, wie Stiftungen soziale Innovationen fordern konnen. Der erste Teil beschaftigt sich mit dem Organisationstyp der Stiftung, dem regulatorischen Umfeld und dominanten Strategien, die zur Zweckverwirklichung eingesetzt werden. Stiftungen wird das Potenzial zugeschrieben als Impulsgeber und soziale Innovatoren auftreten zu konnen. Dies konnte bisher aber insbesondere wegen der unscharfen und inflationaren Verwendung des Innovationsbegriffs kaum uberpruft werden. Der zweite Teil widmet sich daher dem Ursprung und den neuesten Erkenntnissen der sozialwissenschaftlichen Forschung uber soziale Innovationen. Eine Definition wird vorgestellt und der Prozess sozialer Innovation beschrieben. Im dritten Teil werden die Erkenntnisse aus der Innovationsliteratur auf die Arbeit von Stiftungen bezogen. Zum Schluss wird ein Idealtyp einer Stiftung fur soziale Innovationen vorgestellt.English Abstract: The following article explores the question of how foundations can promote social innovations. The first part deals with the foundation as organizational type, its regulatory environment and dominant foundations strategies. Foundations are often described as catalyst and initiators of social innovation. However, if foundations really can fulfill this role has been difficult to assess. The term social innovation was used rather as a buzz word and without sufficient analytical reflection. Therefore, the second part of the paper discusses social innovation from a social science research perspective. A definition is provided and the process of social innovation is explained. In the third part the concept of social innovation is applied to foundations. Different tools foundations can use to initiate and promote social innovations are discussed. Finally, an ideal type of a foundation for social innovation is presented.
抽象:以下文章探寻关于基金会是如何呼吁社会创新的。第一部分与基金会的组织类型、监管环境和用于实现目的的主导战略有关。基金会有可能作为向导和社会创新者出现。不过,由于使用创新这个公式所隐含的不稳定和通胀特征,因此仍无法对它进行考量。因此,第二部分探讨社会创新领域的最新社会科学研究方向和见解。然后给出了定义,描述了社会创新的过程。第三部分,创新文献来源于基金会的工作。最后,介绍了一个完美的社会创新基金会类型。英国抽象:跟着音乐炮2号:《能促进社会创新》第一部分与基金会签订的协议是基于组织形式,那是基于危机和主导战略。方廷之泉是社会创新的催化剂和先锋胡佛不是吗?“条件创新”是什么?读它是社会科学研究的第二部分一个定义是社会创新的扩展和黎明就是解释第三个部分是社会创新的考虑之道通信危机的另一种选择最后,理想社会创新基金会赚钱。
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引用次数: 0
Dealing with the Devil of Deviation: Managing Uncertainty During Product Development Execution 处理偏差的魔鬼:管理产品开发执行中的不确定性
Pub Date : 2014-03-01 DOI: 10.1111/radm.12045
Caroline Munthe, Lars Uppvall, M. Engwall, Lars Dahlén
This paper examines deviations in complex product development. Based on an extensive case study, using participant observations, interviews, and data from deviation reports, it illustrates the causes, procedures, management challenges of deviations, and organizational roles devoted to deviation management. Based on the rich data material, it furthermore proposes a typology of deviations developed for a better understanding of this significant empirical phenomenon.
本文探讨了复杂产品开发中的偏差。基于广泛的案例研究,使用参与者观察、访谈和来自偏差报告的数据,它说明了偏差的原因、过程、管理挑战,以及致力于偏差管理的组织角色。基于丰富的数据材料,它进一步提出了一种偏差的类型学,以便更好地理解这一重要的经验现象。
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引用次数: 29
Customer Knowledge to Improve the Innovation: The Relationship in México. 顾客知识对创新的促进作用:msamxico中的关系。
Pub Date : 2014-01-16 DOI: 10.2139/ssrn.2508402
Juan Mejía-Trejo, J. Sánchez-Gutiérrez, José Francisco Haro-Beas
The Knowledge Management (KM) improves the innovation in the firms based on information (OECD, 2003). Gebert, Geib, Kolbe, & Riempp, (2013) showed the sense of information: for, from and about the customers, that increase the market opportunities; this is called Customer Knowledge Management (CKM). The different Innovation Stages (INNOVS) increase the competitive advantage (OECD, 2005). Hence: ?Which is the conceptual model that relates the variables, dimensions and indicators from CKM with INNOVS? A questionnaire was designed using Likert scale and the Cronbach's alpha for confidence measurement, Pearson's Correlation and Multiple Regression Analysis (MRA) with stepwise method, was applied in 200 SME's belonging to the software developer sector located in Guadalajara City (SDSGC), Mexico. Independent variables are based on CKM to explain the dependent variable INNOVS. CKM as a Driver Innovation (CKMADI) and CKM other sources of Knowledge (CKMOSK) on INNOVS showed correlation.
知识管理促进了企业基于信息的创新(OECD, 2003)。Gebert, Geib, Kolbe, & Riempp,(2013)显示了信息感:为了客户,来自客户和关于客户,增加了市场机会;这就是客户知识管理(CKM)。不同的创新阶段(INNOVS)增加竞争优势(OECD, 2005)。那么,将CKM的变量、维度和指标与INNOVS联系起来的概念模型是什么?采用李克特量表和Cronbach’s alpha进行置信度测量,采用Pearson’s Correlation and Multiple Regression Analysis (MRA)逐步分析方法,对墨西哥瓜达拉哈拉市(SDSGC)软件开发行业的200家中小企业进行问卷调查。自变量基于CKM来解释因变量INNOVS。CKM as a Driver Innovation (CKMADI)和CKM other sources of Knowledge (CKMOSK)在INNOVS上表现出相关性。
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引用次数: 3
Leveling with Friends: Social Networks and Indian Farmers’ Demand for Agricultural Custom Hire Services 与朋友平起平坐:社交网络和印度农民对农业习俗雇佣服务的需求
Pub Date : 2013-11-01 DOI: 10.2139/ssrn.2373213
N. Magnan, D. Spielman, Travis J. Lybbert, K. Gulati
This research was undertaken to understand how information about a new agricultural technology is transmitted through social networks, and what effect information gained through social networks has on technology demand at the household level. The technology in question is laser land leveling (LLL)—a resource-conserving technology—which we introduced in eastern Uttar Pradesh, India as part of the study. [IFPRI Discussion Paper No. 01302].
本研究旨在了解一项新农业技术的资讯如何透过社会网络传播,以及透过社会网络所获得的资讯对家庭层面的技术需求有何影响。所讨论的技术是激光土地平整(LLL) -一种资源节约技术 -作为研究的一部分,我们在印度北方邦东部引入了这种技术。[IFPRI讨论文件第01302号]。
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引用次数: 45
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Innovation & Organizational Behavior eJournal
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