The Sarbanes-Oxley Act, Security Analyst Monitoring Activity, and Firm Value

In this study we examine the complementary monitoring activity that takes place via the Sarbanes-Oxley Act (SOX) and its effect on security analyst monitoring activity and firm value of large and small public firms. Our findings indicate that security analyst monitoring activity has decreased post-SOX while firm value has increased post-SOX for both large and small firms. We also find that the increase in firm value is more pronounced for the group of small firms. Given these results, we surmise that the complementary monitoring activity provided by SOX is effective enough to have a positive impact on firm value

Combining Open Source and Commercial Tools in Digital Twin for Cities Generation

Evidently, Smart Cities are on the rise and there is an increasing need for digital twins of these complex environments and their corresponding 3D models. The creation and maintenance of such twins is a time consuming task, since cities are living evolving organisms. In this paper we are presenting work done within the Digital Twin Cities Centre (DTCC) in Sweden in the field of automated 3D city model generation. We showcase a novel method of combining open source and commercial software for creating digital twins of any urban context in a procedural way from raw input data and using Unreal Engine as a visualization front-end. We combine two different workflows, one based on the commercial software suite Feature Manipulation Engine and in parallel we utilize the open source code developed within the Centre, dubbed DTCC Builder. The assets created can be used in urban planning, multiphysics continuum mechanics simulations and for visualization and illustration on a 3D scale. By using, in a complementary way, established commercial software and state of the art open source C++ code we manage to utilize the quality of life features the first provides, while assigning the demanding tasks of comforming mesh generation to the former. The longer term goal is (nearly) real-time mesh digital twinning of any city and user interaction with the 3D assets provided. Copyright (C) 2022 The Authors

Decisions about entry modes for telecom companies into digital music business: An empirical case study

The digital music market offers an opportunity for telecom companies to furnish value-added services. However, little effort has been made to study empirically how to make a decision about entry modes for telecom companies into digital music business. This study therefore investigates various strategies that telecom companies may implement to enter the digital music industry. The results of a series of expert surveys reveal that the preference ranking of entry modes is acquisition, joint venture, and contractual agreement, respectively. Moreover, the leading key factors in selecting entry modes are complementary capabilities, hostility of environment, relational risk between firms as partners, commitment of resources, and availability of expertise. Furthermore, an importance-performance analysis was conducted to understand the different aspects that are of different performances and importance in each entry mode. The implications of the findings are also discussed. --Telecom companies,Digital music business,Entry modes,Value added

Commercialisation Strategies of Technology based European SMEs: Markets for Technology vs. Markets for Products

This paper focuses on European small-medium "serial innovators" at the beginning of the 1990s and provides an empirical basis to answer the following questions: who are the upstream specialized small-medium technology producers? How are they distributed across countries? Are there technologies in which they show a relative advantage? By focusing on firms? history, activities, and the description of events obtained by different data sources, we also investigates if technology based SMEs choose to implement a strategy based on the commercialisation of their technologies or if they invest in the complementary assets of production, marketing and distribution becoming micro-chandlerian firms. Through this analysis we are able to propose a taxonomy of technology based SMEs? strategies in the market for technology, in the market for embedded technologies and in the market for products.SMEs, Technology Strategies, Licensing.

Value chain envy: explaining new entry and vertical integration in popular music

The desirability of establishing a value chain at a particular stage in a value system can be considered to depend on the relation between the value that can be created and the value that can be captured at that particular stage. Value chain envy motivates firms to invade the more desirable stages of the value system, either through new entry or vertical integration. The feasibility of establishing a value chain, however, can be considered to depend on the efficacy of the means to value protection at that particular stage. The concepts of value creation, capture, and protection within value systems are employed to analyze recent developments in the recorded music industries, particularly those affecting the stage of music publishing. Over the course of the 20th century the value created at the stage of music publishing diminished steadily, while the value captured remained high, thereby giving rise to value chain envy. On the basis of the proposed theoretical framework one could expect these developments to trigger strategic responses to remedy this value chain envy. However, most actors, except the major record companies, were unable to do so until new information communication technologies were introduced. Industry level data do indeed corroborate that vertical integration by major record companies was followed, from the mid-1990’s onwards, by a significant increase in the prevalence rate of newly founded SMEs in the music publishing industry in the Netherlands. These newly founded firms are testimony to new entry or vertical integration by musician-entrepreneurs, thereby providing support for the advanced arguments.

Profiting in the info-communications in the age of broadband: lessons and new considerations

Who profits in the info-coms industry in the broadband age, and how? This paper looks at this question, decomposing the industry in terms of five complementary activities: (1) equipment provision, (2) network operation, (3) Internet access and service provision, (4) navigation and security provision, and (5) Internet content provision, which correspond to five different assets in the sense of Teece (1986). By focusing on two key stylized facts (SF1: “R&D and patent licensing are increasingly high in this industry, but the initiators of innovations have greatly changed over time”, and SF2: “Small, facilities-less companies emerged during the development of the Internet industry, but have generally performed badly as the industry has matured and broadband use has become widespread”) the paper analyses the robustness of Teece (1986) in its ability to provide a framework appropriate to the changes that have occurred in the broadband industry. The paper draws some lessons, and provides some new considerations related to the robustness of Teece's framework.