Extensiveness of business planning and firm survival: an examination into the drivers of success and survival for knowledge intensive start-up firms

A number of studies have found that writing a business plan increases the likelihood of firm survival. For instance, Liao and Gartner (2006) found that firms that completed a business plan were nearly three times more likely to launch their business than those that did not. On the contrary, other studies have found no association between writing a business plan and success. For example, Honig and Karlsson (2004) found evidence that entrepreneurs only write business plans because they are required to do so by investors, educators and advisors. While the evidence is mixed on the effectiveness of business planning, previous research has not examined individual elements of business plans. Thus, it is not clear which aspects (e.g., financial projections v. marketing strategy) of business planning are positively (or negatively) related to performance and survival. Our study addresses two main issues concerning the impact of business planning in firm survival: 1) Are surviving firms different in the extent of their business planning? 2) Which topical areas within business planning are more (or less) predictive of firm survival? To seek answers, we reconceptualize business planning along four dimensions: service/product description, marketing strategy, financial projections and organizational planning

A six-part collisional model of the main asteroid belt

In this work, we construct a new model for the collisional evolution of the main asteroid belt. Our goals are to test the scaling law of Benz and Asphaug (1999) and ascertain if it can be used for the whole belt. We want to find initial size-frequency distributions (SFDs) for the considered six parts of the belt (inner, middle, 'pristine', outer, Cybele zone, high-inclination region) and to verify if the number of synthetic asteroid families created during the simulation matches the number of observed families as well. We used new observational data from the WISE satellite (Masiero et al., 2011) to construct the observed SFDs. We simulate mutual collisions of asteroids with a modified version of the Boulder code (Morbidelli et al., 2009), where the results of hydrodynamic (SPH) simulations of Durda et al. (2007) and Benavidez et al. (2012) are included. Because material characteristics can significantly affect breakups, we created two models - for monolithic asteroids and for rubble-piles. To explain the observed SFDs in the size range D = 1 to 10 km we have to also account for dynamical depletion due to the Yarkovsky effect. The assumption of (purely) rubble-pile asteroids leads to a significantly worse fit to the observed data, so that we can conclude that majority of main-belt asteroids are rather monolithic. Our work may also serve as a motivation for further SPH simulations of disruptions of smaller targets (with a parent body size of the order of 1 km).Comment: Accepted for publication in Icaru

Photoinduced Floquet topological magnons in Kitaev magnets

We study periodically driven pure Kitaev model and ferromagnetic phase of the Kitaev-Heisenberg model on the honeycomb lattice by off-resonant linearly and circularly-polarized lights at zero magnetic field. Using a combination of linear spin wave and Floquet theories, we show that the effective time-independent Hamiltonians in the off-resonant regime map onto the corresponding anisotropic static spin model, plus a tunable photoinduced magnetic field along the $[111]$ direction, which precipitates Floquet topological magnons and chiral magnon edge modes. They are tunable by the light amplitude and polarization. Similarly, we show that the thermal Hall effect induced by the Berry curvature of the Floquet topological magnons can also be tuned by the laser field. Our results pave the way for ultrafast manipulation of topological magnons in irradiated Kitaev magnets, and could play a pivotal role in the investigation of ultrafast magnon spin current generation in Kitaev materials.Comment: 7 pages, 5 figures + Supplemental Materia

Bilingual Preschoolers ’ Speech is Associated with Non-Native Maternal Language Input

Published online: 11 Nov 2018Bilingual children are often exposed to non-native speech through their parents. Yet, little is known about the relation between bilingual preschoolers’ speech production and their speech input. The present study investigated the production of voice onset time (VOT) by Dutch-German bilingual preschoolers and their sequential bilingual mothers. The findings reveal an association between maternal VOT and bilingual children’s VOT in the heritage language German as well as in the majority language Dutch. By contrast, no input-production association was observed in the VOT production of monolingual German-speaking children and monolingual Dutch-speaking children. The results of this study provide the first empirical evidence that non-native and attrited maternal speech contributes to the often-observed linguistic differences between bilingual children and their monolingual peers

Dynamic Factor Models of Consumption, Hours, and Income

This paper addresses two questions. First, what are the key factors that affect a consumer's lifetime budget constraint and how do they evolve over the lifecycle? Second, how do consumers respond to changes in these factors? We examine the permanent income hypothesis and the Keynesian consumption model using a dynamic factor model of consumption, hours, wages, unemployment, and income. We show that a quarterly dynamic factor model with restrictions on the lag structure nay be used with annual panel data to account for the fact that in many micro panel data sets the variables relevant to a study are measured at different time intervals and/or are aggregates for the calendar year. By using several income indicators we are able to extend the panel data studies of Hall and Mishkin and Bernanke to allow for measurement error. We are also able to study the response of income and consumption to some of the factors which determine them. In addition, we study a dynamic factor representation of a joint lifecycle model of consumption and labor supply. We provide estimates of the effect of wages, unemployment, and other income determinants on the marginal utility of income as well as estimates of the substitution effects of wage change on labor supply and consumption.

A New Narrow-Line Seyfert 1 galaxy : RXJ1236.9+2656

We report identification of a narrow-line Seyfert 1 galaxy RXJ1236.9+2656. X-ray emission from the NLS1 galaxy undergoes long-term variability with 0.1--2.0 keV flux changing by a factor of 2 within about 3 yr. The ROSAT PSPC spectrum of RXJ1236.9+2656 is well represented by a power-law of Gamma = 3.7 absorbed by matter in our own Galaxy (N_H = 1.33X10^20 cm**-2). Intrinsic soft X-ray luminosity of the NLS1 galaxy is estimated to be 1.5X10^43 erg/s in the energy band of 0.1-2.0 keV. The optical spectrum of RXJ1236.9+2656 is typical of NLS1 galaxies and shows narrow Balmer emission lines (1100 km/s < FWHM < 1700 km/s) of Hbeta, Halpha, and forbidden lines of [O III] and [N II]. Fe II multiplets, usually present in optical spectra of NLS1 galaxies, are also detected in RXJ1236.9+2656.Comment: 4 pages, A&A style Latex, To apear in A&A as a research not

Fermionic bound states in Minkowski-space: Light-cone singularities and structure

The Bethe-Salpeter equation for two-body bound system with spin $1/2$ constituent is addressed directly in the Minkowski space. In order to accomplish this aim we use the Nakanishi integral representation of the Bethe-Salpeter amplitude and exploit the formal tool represented by the exact projection onto the null-plane. This formal step allows one i) to deal with end-point singularities one meets and ii) to find stable results, up to strongly relativistic regimes, that settles in strongly bound systems. We apply this technique to obtain the numerical dependence of the binding energies upon the coupling constants and the light-front amplitudes for a fermion-fermion $0^+$ state with interaction kernels, in ladder approximation, corresponding to scalar-, pseudoscalar- and vector boson exchanges, respectively. After completing the numerical survey of the previous cases, we extend our approach to a quark-antiquark system in $0^-$ state, taking both constituent-fermion and exchanged boson masses, from lattice calculations. Interestingly, the calculated light-front amplitudes for such a mock pion show peculiar signatures of the spin degrees of freedom.Comment: 22 pages, 7 figures, bst file include

Fractional spins and static correlation error in density functional theory

Electronic states with fractional spins arise in systems with large static correlation (strongly correlated systems). Such fractional-spin states are shown to be ensembles of degenerate ground states with normal spins. It is proven here that the energy of the exact functional for fractional-spin states is a constant, equal to the energy of the comprising degenerate pure spin states. Dramatic deviations from this exact constancy condition exist with all approximate functionals, leading to large static correlation errors for strongly correlated systems, such as chemical bond dissociation and band structure of Mott insulators. This is demonstrated with numerical calculations for several molecular systems. Approximating the constancy behavior for fractional spins should be a major aim in functional constructions and should open the frontier for DFT to describe strongly correlated systems. The key results are also shown to apply in reduced density-matrix functional theory.Comment: 6 pages, 4 figure