Successful joint ventures in Science Parks

Technology-based firms are looking for ways of minimizing the increasing risks and costs of developing new products and processes. Acquisition of new technology through a collaborative development is one way which is finding favour. Universities, their associated Science Parks and spinout companies offer opportunities for such partnerships which are growing in importance. The services available by this route to large companies are attracting a substantial international clientele.     

Adaptation in new technology‐based ventures: Insights at the company level

Recent research shows that, owing to the presence of uncertainty and ambiguity, new ventures have great difficulties in defining a viable business model from the outset and that minor or major adaptations to this initial business model are needed as the venture evolves. Technology‐based companies are confronted with particularly high degrees of uncertainty and ambiguity. This paper therefore focuses on new technology‐based ventures as a special case worth investigating. Most of the entrepreneurship literature studies adaptation at the individual level. However, many new technology‐based firms are founded by a team of entrepreneurs. This paper therefore looks at how existing literature at the company level can inform us about adaptation in new technology‐based companies. It starts by relating the concept of adaptation in new technology‐based ventures to the existing literature on organizational adaptation at the firm level. Based on an overview of existing literature at the firm level, a propositional model is then put forward, describing (1) the process of adaptation and (2) the factors enabling adaptation in new technology‐based ventures.     

Governing inter-organisational R&D supplier collaborations: a study at Jaguar Land Rover

This article discusses the importance of collaboration with suppliers and partners during research and development (R&D) technology projects. It details how this can be accomplished using the collaborative enterprise governance (CEG) concept to manage a technology project. CEG is based on the premise that parts of companies work with parts of other companies, which are reconfigured on dynamic bases according to a variety of different internal and external factors. This article presents an overview of the founding literature, the CEG and its methodology, and examples based at Jaguar Land Rover in the UK. CEG has been used here to explain why some technology projects have succeeded while others have done less well. This article concludes by offering new propositions, inducted through grounded theory, relating to the successful management of R&D projects, which should be picked up by future research studies in the area.     

基于实物期权的新技术投资决策实证研究

本文基于对我国高新技术企业的实际调研,从实物期权视角检验不同类型不确定性对企业新技术投资决策的影响。研究结果表明,市场与政策不确定性对投资的延迟作用与技术不确定性对投资的促进作用得到不同程度验证,而竞争强度与投资不可逆程度对不确定性与投资关系的调节作用则不完全符合实物期权的理论预期。论文结果揭示了我国高新技术企业进行投资决策的一般规律,可为企业应用实物期权方法提供参考。     

Employer branding practices for young talents in IT companies (Russian experience)

This article discusses the current Russian experience of information technology (IT) companies in building employer branding practices to attract and retain young talents. Focusing on generation theory and employer branding perspective, we identify the core employment values and preferences of young IT-professionals and consider the efficient employer branding tools used by three IT companies to cooperate with them in the conditions of ‘war for talents’.     

关联方关系及其交易的信息披露问题

上市公司关联方关系及其交易一直是证券市场关注的热点问题,对这一事项的信息披露是财务报表附注中的一项重要内容.因为关联方关系及其交易不同于-般的公司间关系及交易,有其自身独具的特点,因而成为投资者决策的一条主要依据.从中报和年报的总体来看,大部分上市公司能够比较客观、清楚地披露该项事宜,但仍然有一些上市公司不能按照准则要求去做,在信息披露中暴露出一些问题.因此,不论关联方关系及其交易的信息披露还是关联交易本身都有待于进一步规范.     

DRIVERS OF INTERNET PURCHASING SUCCESS

The development of the Internet as a business tool over the past 5 years has been phenomenal, causing a period of chaos and creative destruction. E‐commerce has been hyped as a catalyst for vast streamlining of the supply chain. Yet, in a time of such phenomenal change, the focus tends to be on the large picture. Many details of how a new technology should be or is employed tend to be unknown or ignored. However, as the technology matures and stabilizes, one of the primary factors that separate winners from losers is the way in which the technology is implemented and operated on a daily basis. This study examines the ways in which companies utilize the Internet to streamline their purchasing process. A survey of 416 customers of a major Internet retailer of commodity office supplies reveals important relationships between web site design, employee work environments, Internet strategy, and purchasing performance. Our sample of companies consists of firms that have ordered office supplies at least once using the Internet. Our data indicate that companies do realize performance benefits from utilizing the Internet as a purchasing tool. Furthermore, the data suggest factors that facilitate purchasing process improvements. These factors can be utilized by both buying and selling companies to improve their proprietary processes to maximize the benefits of e‐commerce as a purchasing tool.     

基于LGCNET多层网络的中国A股上市公司系统性风险度量

系统性风险度量一直是金融风险领域的热点问题,但是对于复杂网络条件下的度量方法还缺乏深入研究。本文将滑动窗口分位数回归与局部高斯相关方法相结合,构建出一种全新的多层时变网络——局部高斯相关网络(Local Gaussian Correlation Network, LGCNET)。基于此方法,本文通过研究中国证券市场股票总体及尾部收益的非线性相关性,分析了2018年至2021年我国A股50家上市企业关联网络的演化特征,通过考察金融网络系统性风险水平在整个时间段内的变化情况,探究了新冠疫情及中美贸易摩擦期间上市公司网络的风险变化情况。结果表明：第一,金融与科技行业是网络节点的中心,与其他行业公司存在较高关联性,表明该类行业是风险传导的中心。第二,基建及银行类公司因为其市值高,在系统中的重要程度普遍较高;同时,尾部风险排名高于其市值排名的企业具有较大市场影响力和风险传导能力,也应该受到关注。第三,在系统层面,受信用风险加剧及中美贸易摩擦的影响,2018年整个网络系统普遍具有较高风险水平;但在2020年新冠疫情期间,国内系统性风险一直控制在较低水平。     

Strategizing in a digital world: Overcoming cognitive barriers,reconfiguring routines and introducing new organizational forms

As digital technologies such as cloud and edge computing, machine learning, advanced artificial intelligence (AI), and the internet of things (IoT) unfold, traditional industries such as telecoms, media, entertainment, and financial services are being reconfigured and new sectors are emerging. In this new competitive landscape we observe new organizational forms and new business models, including the emergence of platforms and multi-sided markets. This emergence has required a strategic response from incumbent firms, including both well-established firms and some first-generation digital enterprises. With these advances in digital technology, the very nature of strategy is changing. Fundamentally, the use of digital technologies may provide new opportunities for efficiency gains, customer intimacy, and innovation. However, without the right mindset for change, appropriate digital routines, and structural changes, digital transformation efforts will fail. We therefore present a framework for strategizing in this new digital competitive landscape that underscores the importance of the interplay between (1) the cognitive barriers faced by managers when trying to understand this new digital world and envision new digital business models, (2) a need to reconfigure and extend digital routines, and (3) new organizational forms that are better equipped to creating value and gaining competitive advantage. From this framework of essential pillars, we derive four journeys of digital transformation for companies that were formed in the pre-digital economy. We also describe the management roles required by top, middle, and frontline managers, depending on whether the digital migration is evolutionary or transformative and whether the firm is responding to or attempting to shape the ecosystem. Although digital transformation is technically all about technology, the more important issue is how companies make their way through this strange new digital world in which they find themselves. Ultimately digital transformation is as much about strategizing as it is about technology.     

炫耀性产品品牌策略：品牌延伸或新品牌？

企业在推出炫耀性产品时，可以采用两种品牌策略：品牌延伸或新品牌。为分析企业的炫耀性产品品牌策略，通过博弈论本文建立了无新产品、品牌延伸和新品牌三种模型，并得到了垄断情形与竞争情形下企业在不同品牌策略下的最优定价和利润。研究发现：在垄断情形下，企业总是采用品牌延伸策略。而在面临企业竞争时，如果消费者对地位身份不敏感，则企业选择不推出新产品；如果消费者对身份地位敏感，则当创建新品牌成本较小时，企业采用新品牌策略，否则企业选择放弃推出新产品。此外，一定条件下，企业推出新品牌会增加竞争对手的利润。     

Quality circles—Are they working in British factories?

A survey of Quality Circle programmes in British manufacturing companies reveals that Circles introduced and used properly with full management and trade union support can and do work and have many benefits. The findings suggest that current management attitudes and actions are more detrimental to the establishment and success of a circle programme than that of the trade unions. Based on the findings, indications are made of the factors which will assist companies who are considering the introduction of a Quality Circle programme and also help those companies currently using Circles to make and keep them effective.     

产业链2.0 谁是新一代链主?

产业链二次革命来袭,掌控话语权,重大机遇不容错失!借鉴日本商社模式,学习比亚迪、元太科技、杉杉的布局智慧,围猎核心环节!     

上市公司传闻的澄清效果研究——来自中国证券市场的证据

发布澄清公告是上市公司应对市场传闻的重要途径.然而,证券市场中澄清公告的实际效果如何,以及哪些因素会影响澄清效果尚未得到实证检验.为此,收集了从2000年到2008年中国A股市场1 960个澄清公告,从中整理出179个针对负面传闻进行"澄清"的样本.研究发现,澄清公告效果一定程度上依赖于公司的澄清方式,模糊澄清非但达不到效果,而且进一步加剧了传闻的影响,产生"澄清公告澄不清"的现象.多元回归模型的结果显示,澄清效果不仅与澄清方式有显著关系,而且还受到公司声誉、停牌等因素的影响.研究结论为传闻心理学实验研究的发现提供了中国证券市场的直接证据,同时也为上市公司有效应对传闻提供了新思路.     

How Provider Selection and Management Contribute to Successful Innovation Outsourcing: An Empirical Study at Siemens

It is becoming increasingly common to involve external technology providers in developing new technologies and new products. Two important phases involved in working with technology vendors are vendor selection and vendor management. Because for both steps theory development of key decision guidelines is still immature, we use detailed case studies of 31 innovation outsourcing projects at Siemens to develop grounded theory on provider selection criteria and on project management success drivers. A selection criterion often associated with successful outsourcing is the provider's “track record” or previous experience. Our cases suggest that there is no standard “track record” for success but that a “match” between the client firm's outsourcing motivation and the provider's strengths appears to be a necessary condition for a successful outsourcing collaboration. As to the second phase—managing the vendor—we identify a number of operational project success drivers. There seems to be no universal checklist, but the most important drivers seem to be contingent on the type of vendor chosen and on the maturity of the technology. We compare five provider types—universities, competitors, customers, start‐up companies, and component suppliers—and find that some success drivers are common to all providers, while others are relevant only for certain types of provider. Moreover, drivers in the case of a mature technology are more focused on successful transfer to manufacturing than on development itself. Our findings offer guidelines for innovation managers on how to select innovation providers and how to manage them during the project.     

盈余管理对资本结构的影响--中国上市公司的实证分析

MM定理开创了研究现代企业融资行为和资本结构管理的先河,国外诸多学者研究表明,资产结构、公司规模、非债务税盾、成长能力、公司业绩、财务困境成本等因素影响资本结构的选择,但是上述研究都没有考虑上市公司盈余管理的影响,本文的创新之处在于研究上述影响因素的同时引入盈余管理作为资本结构的解释变量,选取中国上市公司作为样本进行实证分析,得出了中国上市公司盈余管理与资本结构负相关,资产结构与资本结构正相关,公司规模指数与资本结构正相关,非债务税盾与资本结构负相关,公司成长指数与资本结构正相关等结论.     

Supplier quality assessment to identify depth technical knowledge of component reliability

As a result of global competition, international companies that manufacture photocopiers, printers or car navigation systems have to purchase low-cost electronic components such as semiconductors and hard disk drives by outsourcing production. However, it is often difficult for these companies to evaluate the quality of their suppliers through interviews and technical documentations. This article proposes new measures for supplier assessment and a systematic approach to select suppliers that have in-depth knowledge of component reliability and technology. The measures for selection not only include the physical quality of components but also information disclosures provided by suppliers, which consist of failure analysis, reliability data and details of the design-manufacturing process. The proposed measures are applied to real data of photocopier manufacturing enterprises. Experiments conducted show that a systematic assessment will enable selecting appropriate suppliers with a lower failure rate.     

反思美式管理

在金融危机的打击下，美国一些大企业已危机四伏。改革开放30年来，华尔街的商业理念已渗透到中国企业的机体，中国企业也一直以引进和学习美式管理为傲，对美式管理曾经盲从甚至崇拜。不久前，一本由法国总统文化顾问弗雷什写的书在中国上市。该书以探讨当今中国对世界的影响为着眼点，但书的名字很有意思——《中国不笑，世界会哭》。     

Approaches to Manufacturing Regeneration: Some Empirical Data1

The study examined the efforts of 11 manufacturing companies to regenerate competitiveness through implementing improvement programmes. Data were collected about the activities seen to constitute improvement programmes as well as the reasons and intentions given for their implementation. Companies were found to have shared a common set of strategic intentions whilst having used differently constituted improvement programmes to achieve them. This similarity in strategic intent was seen as evidence of companies using improvement programmes to facilitate movement from mass to lean production paradigms. AU of the 11 companies studied exhibited widespread use of improvement activities. However, significant differences in individual company choice was interpreted as contra-evidence of improvements being driven solely by manufacturing fashions. This together with their similarities in strategic intent was seen as evidence that companies tailored their regenerative efforts to suit individual circumstances in pursuit of a generic strategic recipe. Some companies had discovered they had developed new capabilities through their regenerative efforts and these were seen as providing a distinctive competitive advantage. All of the companies set out with strategic intentions which centred on catching up with or imitating the best of their competitors – over a half discovered en route a means for changing the rules of the game.     

Prediction and practice in multinational strategic planning

The author of this article argues that the models which have been put forward relating to the strategic planning process in multinational companies are inadequate. Nevertheless that the organizational structures and control systems adopted by companies have allowed them to cope to some degree, the advent of the regional headquarters having played a significant role in this process where inter-regional trading is limited.The emergence of global strategies seems to be progressing at a substantial pace.     

Inter‐Firm R&D Networks: the Importance of Strategic Network Capabilities for High‐Tech Partnership Formation1

We examine the role of different network capabilities of companies that influence the formation of R&D partnerships in pharmaceutical biotechnology. Strategic network capabilities, specifically centrality‐based capabilities and the efficiency with which companies choose their partners, are found to facilitate the formation of new partnerships. Unlike general experience with partnering, these strategic network capabilities play a crucial role in enabling companies to continue to interact with other companies through partnerships in a complex network setting.