This paper presents a structural framework for assessing knowledge management implementation that supply practitioners with an instrument for institutionalizing and measuring knowledge management in business environments. The framework consists of 6 factors (Principle, Strategy, Structure, Technology, Partnership, and Knowledge Culture), some components, and measurement metrics. Then we applied the framework to the cosmetic manufacturer metrics for knowledge management assessment. As results, the framework can be used for analyzing strength, weakness, and some important points for improvement.
{"title":"A Structural Framework for Assessing Knowledge Management Implementation","authors":"Thanakorn Sornkaew, W. Pan-in","doi":"10.2139/ssrn.3067191","DOIUrl":"https://doi.org/10.2139/ssrn.3067191","url":null,"abstract":"This paper presents a structural framework for assessing knowledge management implementation that supply practitioners with an instrument for institutionalizing and measuring knowledge management in business environments. The framework consists of 6 factors (Principle, Strategy, Structure, Technology, Partnership, and Knowledge Culture), some components, and measurement metrics. Then we applied the framework to the cosmetic manufacturer metrics for knowledge management assessment. As results, the framework can be used for analyzing strength, weakness, and some important points for improvement.","PeriodicalId":346559,"journal":{"name":"Innovation Measurement & Indicators eJournal","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133508488","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We introduce a new approach to algorithmic investment management that yields profitable automated trading strategies. This trading model design is the result of a path of investigation that was chosen nearly three decades ago. Back then, a paradigm change was proposed for the way time is defined in financial markets, based on intrinsic events. This definition lead to the uncovering of a large set of scaling laws. An additional guiding principle was found by embedding the trading model construction in an agent-base framework, inspired by the study of complex systems. This new approach to designing automated trading algorithms is a parsimonious method for building a new type of investment strategy that not only generates profits, but also provides liquidity to financial markets and does not have a priori restrictions on the amount of assets that are managed.
{"title":"The Alpha Engine: Designing an Automated Trading Algorithm","authors":"A. Golub, J. Glattfelder, R. Olsen","doi":"10.2139/ssrn.2951348","DOIUrl":"https://doi.org/10.2139/ssrn.2951348","url":null,"abstract":"We introduce a new approach to algorithmic investment management that yields profitable automated trading strategies. This trading model design is the result of a path of investigation that was chosen nearly three decades ago. Back then, a paradigm change was proposed for the way time is defined in financial markets, based on intrinsic events. This definition lead to the uncovering of a large set of scaling laws. An additional guiding principle was found by embedding the trading model construction in an agent-base framework, inspired by the study of complex systems. This new approach to designing automated trading algorithms is a parsimonious method for building a new type of investment strategy that not only generates profits, but also provides liquidity to financial markets and does not have a priori restrictions on the amount of assets that are managed.","PeriodicalId":346559,"journal":{"name":"Innovation Measurement & Indicators eJournal","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122853657","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Greg Leo, Jian Lou, Martin Van der Linden, Yevgeniy Vorobeychik, M. Wooders
We study iterated matching of soulmates [IMS] — the process of matching coalitions that are the favorite for each member (soulmates), coalitions of soulmates in the remaining group, and so on. Coalitions produced by IMS belong to any stable partition and mechanisms that implement IMS give players in these coalitions (or who at least believe they are) no incentive to deviate from truthful preference reporting, even jointly. When everyone is matched by IMS, these mechanisms are stable and have a truthful strong Nash equilibrium. Furthermore, we show, using real-world data and simulation, that scenarios in which many people are matched by IMS are common under natural kinds of preferences.
{"title":"Matching Soulmates","authors":"Greg Leo, Jian Lou, Martin Van der Linden, Yevgeniy Vorobeychik, M. Wooders","doi":"10.2139/ssrn.2833553","DOIUrl":"https://doi.org/10.2139/ssrn.2833553","url":null,"abstract":"We study iterated matching of soulmates [IMS] — the process of matching coalitions that are the favorite for each member (soulmates), coalitions of soulmates in the remaining group, and so on. Coalitions produced by IMS belong to any stable partition and mechanisms that implement IMS give players in these coalitions (or who at least believe they are) no incentive to deviate from truthful preference reporting, even jointly. When everyone is matched by IMS, these mechanisms are stable and have a truthful strong Nash equilibrium. Furthermore, we show, using real-world data and simulation, that scenarios in which many people are matched by IMS are common under natural kinds of preferences.","PeriodicalId":346559,"journal":{"name":"Innovation Measurement & Indicators eJournal","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127040750","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper presents summary information on U.S.-located MNEs that engage in both R&D and international trade in selected innovation-related services (charges for IP and R&D services), based on a microdata link of several U.S. economic and R&D surveys. Aggregate linked data suggest that MNEs that engage in innovation-related services are more R&D-intensive than MNEs that perform R&D but do not engage in these transactions. The paper also illustrates differences in trade balances for these services by U.S. MNE parent companies and by U.S. affiliates of foreign MNEs.
{"title":"Innovation-Related Services Trade by Multinational Enterprises: Results from an Interagency Data Link Project","authors":"F. Moris, William J. Zeile","doi":"10.2139/SSRN.2967041","DOIUrl":"https://doi.org/10.2139/SSRN.2967041","url":null,"abstract":"This paper presents summary information on U.S.-located MNEs that engage in both R&D and international trade in selected innovation-related services (charges for IP and R&D services), based on a microdata link of several U.S. economic and R&D surveys. Aggregate linked data suggest that MNEs that engage in innovation-related services are more R&D-intensive than MNEs that perform R&D but do not engage in these transactions. The paper also illustrates differences in trade balances for these services by U.S. MNE parent companies and by U.S. affiliates of foreign MNEs.","PeriodicalId":346559,"journal":{"name":"Innovation Measurement & Indicators eJournal","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121855585","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article summarizes the major policy recommendations contained in the book, "Permissionless Innovation: The Continuing Case for Comprehensive Technological Freedom" (now in its second edition). The book highlights the importance of permissionless innovation and explains how technological advancement is the fundamental driver of long-term economic growth and human flourishing more generally.
{"title":"Permissionless Innovation and Public Policy: A 10-Point Blueprint","authors":"Adam Thierer","doi":"10.2139/SSRN.2761139","DOIUrl":"https://doi.org/10.2139/SSRN.2761139","url":null,"abstract":"This article summarizes the major policy recommendations contained in the book, \"Permissionless Innovation: The Continuing Case for Comprehensive Technological Freedom\" (now in its second edition). The book highlights the importance of permissionless innovation and explains how technological advancement is the fundamental driver of long-term economic growth and human flourishing more generally.","PeriodicalId":346559,"journal":{"name":"Innovation Measurement & Indicators eJournal","volume":"127 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133977080","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper reports significant discrepancies in the Census’s methods and reports of online and physical retail sales in the United States. We recommend material changes in how the Census Bureau reports e-commerce and physical sales reported to it. We also recommend that the Census commission an independent review of its methods and reporting.
{"title":"The Census Bureau Needs to Significantly Revise Reporting and Calculation of Its Online and Physical Retail Sales Figures and Commission an Independent Review","authors":"David S. Evans, R. Schmalensee, Scott Murray","doi":"10.2139/SSRN.2728918","DOIUrl":"https://doi.org/10.2139/SSRN.2728918","url":null,"abstract":"This paper reports significant discrepancies in the Census’s methods and reports of online and physical retail sales in the United States. We recommend material changes in how the Census Bureau reports e-commerce and physical sales reported to it. We also recommend that the Census commission an independent review of its methods and reporting.","PeriodicalId":346559,"journal":{"name":"Innovation Measurement & Indicators eJournal","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-02-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121353080","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We propose a test for invertibility or fundamentalness of structural vector autoregressive moving average models generated by non‐Gaussian independent and identically distributed structural shocks. We prove that in these models and under some regularity conditions the Wold innovations are a martingale difference sequence (mds) if and only if the structural shocks are fundamental. This simple but powerful characterization suggests an empirical strategy to assess invertibility. We propose a test based on a generalized spectral density to check for the mds property of the Wold innovations. This approach does not require the specification and estimation of the economic agent's information flows or the identification and estimation of the structural parameters and the noninvertible roots. Moreover, the proposed test statistic uses all lags in the sample and it has a convenient asymptotic N(0,1) distribution under the null hypothesis of invertibility, and hence, it is straightforward to implement. In case of rejection, the test can be further used to check if a given set of additional variables provides sufficient informational content to restore invertibility. A Monte Carlo study is conducted to examine the finite‐sample performance of our test. Finally, the proposed test is applied to two widely cited works on the effects of fiscal shocks by Blanchard and Perotti (2002) and Ramey (2011).
{"title":"Testing for Fundamental Vector Moving Average Representations","authors":"Bin Chen, Jinho Choi, J. Escanciano","doi":"10.2139/ssrn.2704860","DOIUrl":"https://doi.org/10.2139/ssrn.2704860","url":null,"abstract":"We propose a test for invertibility or fundamentalness of structural vector autoregressive moving average models generated by non‐Gaussian independent and identically distributed structural shocks. We prove that in these models and under some regularity conditions the Wold innovations are a martingale difference sequence (mds) if and only if the structural shocks are fundamental. This simple but powerful characterization suggests an empirical strategy to assess invertibility. We propose a test based on a generalized spectral density to check for the mds property of the Wold innovations. This approach does not require the specification and estimation of the economic agent's information flows or the identification and estimation of the structural parameters and the noninvertible roots. Moreover, the proposed test statistic uses all lags in the sample and it has a convenient asymptotic N(0,1) distribution under the null hypothesis of invertibility, and hence, it is straightforward to implement. In case of rejection, the test can be further used to check if a given set of additional variables provides sufficient informational content to restore invertibility. A Monte Carlo study is conducted to examine the finite‐sample performance of our test. Finally, the proposed test is applied to two widely cited works on the effects of fiscal shocks by Blanchard and Perotti (2002) and Ramey (2011).","PeriodicalId":346559,"journal":{"name":"Innovation Measurement & Indicators eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130055646","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In 2000, I was asked to prepare a report on The Economics of Standardization for the British government, summarising what was known about the field at that time (Swann, 2000). Ten years later, I was asked to update this (Swann, 2010). This short think piece follows on from those earlier reports. It considers this, purely hypothetical question: if I were to produce another update, what new topics might it cover? A full update would need to consider a long list, but here I focus on just four issues.1) You cannot understand all aspects of the economics of standards if you are too specialised in a limited area of economics. For those working on the economics of innovation, which is my field, standards mostly appear to encourage trade. But for those working on the economics of agriculture or the economics of development, the picture is rather different. We examine two contrasting examples which illustrate why these differences arise.2) Many empirical studies of the effects of standards on trade treat the relationship as something of a black box, and to understand what is going on, we need to open up that box. We give a brief summary of some of the connections to be found in the box. It appears that the number and complexity of linkages has evolved over time, and will probably continue to evolve in future.3) If the standards development organisation (hereafter, SDO) is to develop a full understanding of the economics of standardization, and all the ways in which standards can enhance economic performance, it must involve a wide variety of players. These should include representatives from some the developing countries who can be losers from the process of standardization, and also representatives from various sectors of the economy that have, to date, been absent from the standards table. There is, of course, a substantial gap between the capabilities of some of these new players and the established players in the standards community. Nevertheless, we shall argue that involvement of these new players is good for the standards community as a whole.4) As the variety of players increases, however, the SDO will have to face a problem that is perhaps, at present, just below the surface. Some of the challenges facing the SDOs can be seen as questions of social choice. Given the different preferences of different participants, how can the SDO reach a compromise that is acceptable to all? Arrow's celebrated impossibility theorem tells us that this is not a trivial question. Roughly speaking, the problems of social choice become more significant as the diversity of participant preferences increases.. It seems likely, in particular, that these problems may be more common in the context of mega-regions (TPP and TTIP) and the WTO, than in (say) CEN and CENELEC.
{"title":"Technical Standards and Trade: A Greater Role for the SDO","authors":"G. Swann","doi":"10.2139/SSRN.2745491","DOIUrl":"https://doi.org/10.2139/SSRN.2745491","url":null,"abstract":"In 2000, I was asked to prepare a report on The Economics of Standardization for the British government, summarising what was known about the field at that time (Swann, 2000). Ten years later, I was asked to update this (Swann, 2010). This short think piece follows on from those earlier reports. It considers this, purely hypothetical question: if I were to produce another update, what new topics might it cover? A full update would need to consider a long list, but here I focus on just four issues.1) You cannot understand all aspects of the economics of standards if you are too specialised in a limited area of economics. For those working on the economics of innovation, which is my field, standards mostly appear to encourage trade. But for those working on the economics of agriculture or the economics of development, the picture is rather different. We examine two contrasting examples which illustrate why these differences arise.2) Many empirical studies of the effects of standards on trade treat the relationship as something of a black box, and to understand what is going on, we need to open up that box. We give a brief summary of some of the connections to be found in the box. It appears that the number and complexity of linkages has evolved over time, and will probably continue to evolve in future.3) If the standards development organisation (hereafter, SDO) is to develop a full understanding of the economics of standardization, and all the ways in which standards can enhance economic performance, it must involve a wide variety of players. These should include representatives from some the developing countries who can be losers from the process of standardization, and also representatives from various sectors of the economy that have, to date, been absent from the standards table. There is, of course, a substantial gap between the capabilities of some of these new players and the established players in the standards community. Nevertheless, we shall argue that involvement of these new players is good for the standards community as a whole.4) As the variety of players increases, however, the SDO will have to face a problem that is perhaps, at present, just below the surface. Some of the challenges facing the SDOs can be seen as questions of social choice. Given the different preferences of different participants, how can the SDO reach a compromise that is acceptable to all? Arrow's celebrated impossibility theorem tells us that this is not a trivial question. Roughly speaking, the problems of social choice become more significant as the diversity of participant preferences increases.. It seems likely, in particular, that these problems may be more common in the context of mega-regions (TPP and TTIP) and the WTO, than in (say) CEN and CENELEC.","PeriodicalId":346559,"journal":{"name":"Innovation Measurement & Indicators eJournal","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133375803","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Over the last few decades, innovation has doubled automobile performance at a time when outsourcing has increased. But outsourcing is subject to well-known contracting hazards that would also afflict outsourcing for innovation. In this paper, we examine how supplier firms generate innovation in the presence of such hazards, using a recent survey of the US automotive supply chain that contains new measures of innovative activity. Taking the supplier perspective on the traditionally buyer-framed make-or-buy problem pays surprising dividends. First, we identify three supplier innovation strategies — distinct combinations of various innovative activities. Next, we find evidence that each strategy represents a response to the transactional hazards associated with innovating in this environment. Finally, the coexistence of heterogeneous supplier strategies enhances our understanding of the buyer’s make-or-buy problem, providing a more complex picture of the various approaches to transactional hazards that buyers employ simultaneously.
{"title":"Supplier Innovation Strategy: Transactional Hazards and Innovation in the Automotive Supply Chain","authors":"Jennifer W. Kuan, Daniel C. Snow, S. Helper","doi":"10.2139/ssrn.2567536","DOIUrl":"https://doi.org/10.2139/ssrn.2567536","url":null,"abstract":"Over the last few decades, innovation has doubled automobile performance at a time when outsourcing has increased. But outsourcing is subject to well-known contracting hazards that would also afflict outsourcing for innovation. In this paper, we examine how supplier firms generate innovation in the presence of such hazards, using a recent survey of the US automotive supply chain that contains new measures of innovative activity. Taking the supplier perspective on the traditionally buyer-framed make-or-buy problem pays surprising dividends. First, we identify three supplier innovation strategies — distinct combinations of various innovative activities. Next, we find evidence that each strategy represents a response to the transactional hazards associated with innovating in this environment. Finally, the coexistence of heterogeneous supplier strategies enhances our understanding of the buyer’s make-or-buy problem, providing a more complex picture of the various approaches to transactional hazards that buyers employ simultaneously.","PeriodicalId":346559,"journal":{"name":"Innovation Measurement & Indicators eJournal","volume":"77 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115747975","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Benjamin Dachis, R. Brydon, Nicholas Chesterley, A. Jacobs
Alberta and Ontario are leading the pack in innovation as measured by patents filed per capita, according to a new report from the C.D. Howe Institute. In “Measuring Innovation in Canada: The Tale Told by Patent Applications,” authors Robbie Brydon, Nicholas Chesterley, Benjamin Dachis and Aaron Jacobs show for the first time which provinces and which sectors are leading or lagging in Canadian-led innovation for the Canadian market.
{"title":"Measuring Innovation in Canada: The Tale Told by Patent Applications","authors":"Benjamin Dachis, R. Brydon, Nicholas Chesterley, A. Jacobs","doi":"10.2139/ssrn.2535504","DOIUrl":"https://doi.org/10.2139/ssrn.2535504","url":null,"abstract":"Alberta and Ontario are leading the pack in innovation as measured by patents filed per capita, according to a new report from the C.D. Howe Institute. In “Measuring Innovation in Canada: The Tale Told by Patent Applications,” authors Robbie Brydon, Nicholas Chesterley, Benjamin Dachis and Aaron Jacobs show for the first time which provinces and which sectors are leading or lagging in Canadian-led innovation for the Canadian market.","PeriodicalId":346559,"journal":{"name":"Innovation Measurement & Indicators eJournal","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127613542","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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