Corporate Venturing, Allocation of Talent, and Competition for Star Managers

We provide new rationales for corporate venturing (CV), based on competition for talented managers. As returns to venturing increase, firms engage in CV for reasons other than capturing these returns. First, higher venturing returns increase managerial compensation, to which firms respond by increasing the power of incentives. Managers increase effort, prompting firms to reallocate them to new ventures, where the marginal product of effort is highest. Second, as returns to venturing become large, CV emerges as a way to recruit/retain managers who would otherwise choose alternative employment. We derive several testable empirical predictions about the determinants and structure of CV.corporate venture capital, venture capital, failure, competition, entrepreneur, manager

Sources and supply of kelp detritus : quantifying mechanisms of production

In temperate waters, rocky reefs dominated by extremely productive kelp beds export considerable primary production. Despite the extensive body of work on kelp detritus as a trophic subsidy, many questions remain about the production of this detritus. The aim of this thesis was to determine the rate and mechanisms of kelp detritus production, for Ecklonia radiata, the dominant kelp species in temperate Australia. Most of the work was conducted in Marmion Lagoon located 20 km North of Perth, south-western Western Australia, a region strongly influenced by oceanic swell and winter storms. The study comprised of four major components: the impact of kelp morphology on the drag forces acting on kelp thalli; investigation of wound patterns in kelp tissue and the biomechanical implications for kelp detritus production; the relative contribution of erosion of frond material and dislodgement of whole thalli to detritus production; and the relationship between kelp dislodgement and peak water velocities, implemented with a kelp dislodgement model. The initial work in chapter 1 revealed that only size (total area), not morphology, was important in determining the drag acting on E. radiata at peak velocities. This implied that at storm velocities the only way drag forces acting on a kelp can be reduced is by a reduction of total thallus area (biomass) and not by modification of thallus shape. These results constituted the first step to build a mechanistic model of kelp dislodgement. In chapter 2, it is shown that wounds were highly abundant on kelps before peaks in winter storms and that simulated wounds caused significant loss of tissue integrity and strength. Collectively, these findings suggest that accumulation of wounds over summer results in kelp pruning (tissue fragmentation) in early winter. Paradoxically, this may increase kelp survival during winter storms because the biomechanical drag is much lower on small, pruned kelps (lower biomass). Results presented in chapter 3 indicated that erosion accounted for 80% of the annual detrital production with a pulse in autumn, whereas dislodgement accounted for a smaller and more constant proportion throughout the year. Neither erosion nor dislodgement correlated with increasing water velocity. Instead, the pulse of detrital 4 production coincided with sporogenesis, leading to the hypothesis that weakening of structural tissue through the formation and release of spores made E. radiata more susceptible to wound accumulation (Ch. 2) and erosion. In chapter 4, results are presented that show no increase in kelp dislodgement with increasing water velocity, except during the most severe storms. The dislodgement model indicated that the seasonal variation in individual kelp biomass, resulting from erosion of frond tissue (Ch. 3), resulted in lower susceptibility to dislodgement (lower biomass) at times of peak water velocities. The benefit of erosion in reducing drag acting on the thallus, as proposed in the previous chapters, was therefore demonstrated by the model. The commonly accepted model of wave-driven mortality of kelp during storms in winter was refined by the results. The experimental, field sampling and modelling studies have been synthesised into an alternative model of kelp dislodgement, in which kelp beds are in dynamic equilibrium with wave disturbance. This equilibrium is mediated through erosion-driven adjustment of individual kelp biomass in autumnwinter which lowers drag on kelp thalli during the period of peak water velocity. This relationship between erosion and the susceptibility of E. radiata to dislodgement suggests an adaptation of the kelp E. radiata to its environment, critical to kelp survival in one of the most hydrodynamically challenging environment

Internet e-ethics in confrontation with an activists' agenda: Yahoo! on trial

A prolonged confrontation between Yahoo! Inc. and French anti-racism activists who ask for the removal of Nazi items from auction sites as well as restricted access to neo-Nazis sites is analyzed. We present the case and its development up to the decision of Yahoo! Inc. to remove the items from yahoo.com following a French court’s verdict against the firm. Using a business ethics approach, we distinguish the legal, technical, philosophical and managerial issues involved in the case and their management by Yahoo! We conclude on the difficulty of governing relations with society from corporate and legal affairs departments at the headquarters level, and on the clash of two visions over the regulation of social freedom.E-business, e-ethics, auctions, legal compliance, internet regulation, freedom of expression, media crisis

Processes and consequences in business ethical dilemmas: The oil industry and climate changes

This paper proposes a framework to examine business ethical dilemmas and business attitudes towards such dilemmas. Business ethical dilemmas can be understood as reflecting a contradiction between a socially detrimental process and a self-interested profitable consequence. This representation allows us to distinguish two forms of behavior differing by whether priority is put on consequences or on processes. We argue that these forms imply very different business attitudes towards society: controversial or competitive for the former and aligned or cooperative for the latter. These attitudes are then analyzed at the discursive level in order to address the question of good faith in business argumentation, i.e. to which extent are these attitudes consistent with actual business behaviors. We argue that consequential attitudes mostly involve communication and lobbying actions aiming at eluding the dilemma. Therefore, the question of good faith for consequential attitudes lies in the consistency between beliefs and discourse. On the other hand, procedural attitudes acknowledge the dilemma and claim a change of the process of behavior. They thus raise the question of the consistency between discourses and actual behavior. We apply this processes/consequences framework to the case of the oil industry’s climate change ethical dilemma which comes forth as a dilemma between ‘emitting greenhouse gases’ and ‘making more profits’. And we examine the different attitudes of two oil corporations-BP Amoco and ExxonMobil-towards the dilemma.Business ethical dilemma, procedural rationality, consequential rationality, oil industry, climate change, Kyoto protocol

Wnt/Fz interactions in the developing central nervous system.

Wnt signalling is central to many early developmental processes including embryonic patterning, programmed cell death and cell migration. Recent studies have implicated Wnt signalling in the formation of neuronal connections in the nervous system. Wntl a regulates synapse formation in the cerebellum by inducing presynaptic differentiation characterized by axonal remodelling and presynaptic assembly. A very similar gene, Wnt7b regulates dendritic development in hippocampal neurons, but can also trigger axonal remodelling. These different responses are due to the activation of different signalling pathways. We aim to identify the receptors triggering these processes in neurons. Intracellular signalling by Wnts is initiated by the activation of their seven transmembrane receptors Frizzled (Fz). Three known Wnt signalling pathways may be activated: the canonical, the planar cell polarity and Calcium pathways. Ten Fz receptors and 19 Wnts have been identified in the mouse genome. To begin to address what Fz receptors are used by Wnts, we examined the pattern of expression of Wnt 7a and Wnt 7b together with several Fz receptors during postnatal brain development. We found that Wnt7a,fz7, and fz3 are expressed in the postnatal and adult cerebellum. Wnt7b and fz3 are highly expressed in the postnatal hippocampus. These overlapping patterns of expression led us to investigate the ability of Wnt7a and Wnt7b to bind to the cell surface of HEK293 cells expressing the ligand-binding domain of Fz receptors. Binding of Wnt7a an -7b to Fz-3, -5, -7 and -8 was tested. Wnt7b binds Fz3 and Fz5, whilst Wnt7a binds Fz7 and Fz3. Signalling activity was then assessed by measuring TCF/LEF mediated transcription (Top-Flash assay) and by the increased levels of 6-catenin. Wnt-7a is able to activate the canonical pathway in Fz7 and Fz3/LRP6 transfected HEK293 cells. These studies highlight the idea that activation of the canonical / p-catenin pathway by Wnt7a can be mediated by Fz7 and the LRP6/Fz3 complex

Towards a safety learning culture for the shipping industry : a white paper

Within the framework of the EU-funded SAFEMODE project, a series of confidential, in-depth interviews of seafarers and investigators was carried out to ascertain the current status of Safety Culture in the shipping industry, and to recommend possible avenues for improvement. The interview script covered practices in incident and accident investigation and reporting, the Human Element, the factors that keep the ship safe, the role of the Safety Management System, Just Culture and Safety Learning. The seafarers’ and investigators’ interviews were complemented by small focus groups with unions, education and safety bodies. Participants were open and genuine in providing their opinions, as anonymity was preserved. The general consensus among interviewees was that seafarers are the ones who keep ships safe at sea, which is a good omen for Safety Culture in the shipping industry. The originally intended ‘destination’ for the shipping industry was to be Just Culture, but the interviews quickly revealed that Safety Learning, already evident in some parts of the industry, appeared a more pragmatic and attainable destination, one that could add safety improvements and shore up Safety Cultur

Hybrid solar cells based on thin-film silicon and P3HT

International audienceHybrid concepts based on a nanoscale combination of organic and inorganic semiconductors are a promising way to enhance the cost efficiency of solar cells through a better use of the solar spectrum, a higher aspect ratio of the interface, and the good processability of polymers. A new type of solar cells has been investigated. It is based on a heterojunction between regio-regular poly(3-hexylthiophene) as an organic electron donor and silicon as an inorganic electron acceptor. In a first step towards nanostructured devices, cells made of flat thin films of these materials have been studied as a model case of the heterojunction. The materials were characterized through ellipsometry and absorption spectroscopy. The devices were studied by means of their spectral response and their I-V characteristics. By combining these results, the contribution of each layer and the mechanisms of photocurrent generation are explained. The best cells to-date show a power conversion efficiency of 1.6% under AM 1.5 illumination, with a Voc of 0.704 V and a Jsc of 4.22 mA/cm2

Three-dimensional tetra(oligothienyl)silanes as donor material for organic solar cells

Tetrahedral conjugated systems involving four conjugated oligothiophene chains fixed onto a central silicon node (1, 2) have been synthesized and used as donor materials in hetero-junction solar cells. Bilayer solar cells have been realized by thermal evaporation of compounds1 and 2 as donors and N,N′-bis-tridecylperylenedicarboxyimide as an acceptor. Comparison of the performances of these devices to those of a reference system based on dihexylterthienyl (H3T) shows that despite comparable effective conjugation lengths, the 3D compounds 1 and 2lead to a power conversion efficiency four–five times higher, suggesting better absorption of the incident light and better hole transport properties. Whereas fabrication of bulk hetero-junction with H3T was prevented by the lack of film forming properties, a prototype bulk hetero-junction based on compound 2 as the donor and [6,6]-phenyl-C61-butyric acid methyl ester (PCBM) as the acceptor has been realized. A short-circuit current density of 1.13 mA cm−2 and a power conversion efficiency of 0.30% has been measured under AM 1.5 simulated solar irradiation at 80 mW cm−2