IT Innovation Capability and Returns on IT Innovation Persistence

Prior studies have shown that the IT innovation capability, a company\u27s ability to innovate systematically with IT, is not easily replicated (persistent), and the persistence tends to be more pronounced during periods when economy-wide IT budgets are declining (hard IT budgets), such the post-Y2K period. Building on resource based view we argue that companies that systematically innovate with IT have a sustained competitive advantage versus their competitors who are adopting an opportunistic approach to IT innovation or choose not to innovate with IT, and the advantage is stronger during periods of hard IT budgets. Both of these arguments were strongly supported when tested on a sample of 1,057 large US firms by indicating increased return on sales, return on assets, and growth

Do the Roles of the CEO and CFO Differ when it comes to Data Security Breaches?

Using a sample of S&P 1500 firms from 2005-2013, we investigate the independent relationships of Chief Executive Officer (CEO) IT expertise, Chief Financial Officer (CFO) IT expertise, and board level technology committees with data security breaches. Overall, our results indicate that firms that either employ a CEO with IT expertise or implement a technology committee are more likely to detect and report breaches. Further, firms that employ a CFO with IT expertise are less likely to report a breach, suggesting that these firms are better at preventing breaches. The aggregate findings build on the extant corporate governance and risk management literatures

The Impact Of Performance-Based CEO And CFO Compensation On Internal Control Quality

We examine the effects of compensation on the quality of internal control and provide the first evidence relating the time horizon of ex ante performance-based compensation incentives and internal control quality over financial reporting in the SOX 404 era. Specifically, we find that for CEOs and CFOs, the sensitivity of the option portfolio to stock price changes and the proportion of compensation received from long-term incentive plans are related to the propensity to report internal control weaknesses during the period 2004-2006. These effects are negative for long-term incentives but positive or insignificant for short-term incentives for both CEOs and CFOs, who have the primary responsibility for the financial reporting process. Compensation sensitivity is also more strongly related to more severe company-level than account-specific control weaknesses. This company-level weakness relation is stronger for the CFO, who has the primary responsibility for the processes generating financial information and for the financial reporting by the firm. Our findings indicate that SOX disclosures harness the power of compensation schemes to improve internal control quality

Sustainable value creation: The role of IT innovation persistence

In this research, we investigate the role of alternative IT innovation strategies (systematic, opportunistic, and non-IT innovation) on earnings persistence. Building on agility theory we argue that systematic IT innovation leads to sustainable value creation and ability to recover from negative earnings and recession. Using a sample of large US firms we find that good (bad) performance of systematic IT innovators is more persistent (transitory) than non-systematic IT innovators, and are more likely to recover from recession. We conclude that systematic IT innovators are better prepared to deal with the modern hypercompetitive environment

Blockchain Adoption and Investment Efficiency

This study empirically examines the relation between blockchain adoption and investment efficiency. Using a difference-in-differences research design with a sample of U.S. listed firms that indicate adoption of blockchain in business processes in 8-K filings during 2014 to 2019, we find that relative to non-adopters, blockchain adopters exhibit an increase in investment efficiency after the implementation of blockchain technology. Our findings suggest that blockchain adoption improves information quality which in turn affects firms’ price informativeness and information environments, and through which it enhances investment efficiency. Our study provides the first empirical evidence on the real effects of blockchain adoption. The findings are relevant to business communities given that improved efficiency is one of the main goals that many companies seek to achieve from adopting blockchain

An Acute Postoperative Intractable Hyperventilation after an Endoscopic Third Ventriculostomy

This report describes a rare case of postoperative hyperventilation attack after an endoscopic third ventriculostomy in a 46-year-old woman. About 60 min after the termination of the operation, an intractable hyperventilation started with respiratory rate of 65 breaths/min and EtCO2, 16.3 mm Hg. Sedation with benzodiazepine, thiopental sodium, fentanyl, and propofol/remifentanil infusion was tried under a rebreathing mask at a 4 L/min of oxygen. With aggressive sedative challenges, ventilation pattern was gradually returned to normal during the 22 hrs of time after the surgery. A central neurogenic hyperventilation was suspected due to the stimulating central respiratory center by cold acidic irrigation solution during the neuroendoscopic procedure

Global, regional, and national incidence, prevalence, and years lived with disability for 354 diseases and injuries for 195 countries and territories, 1990-2017: a systematic analysis for the Global Burden of Disease Study 2017.

The Global Burden of Diseases, Injuries and Risk Factors 2017 includes a comprehensive assessment of incidence, prevalence, and years lived with disability (YLDs) for 354 causes in 195 countries and territories from 1990 to 2017. Previous GBD studies have shown how the decline of mortality rates from 1990 to 2016 has led to an increase in life expectancy, an ageing global population, and an expansion of the non-fatal burden of disease and injury. These studies have also shown how a substantial portion of the world's population experiences non-fatal health loss with considerable heterogeneity among different causes, locations, ages, and sexes. Ongoing objectives of the GBD study include increasing the level of estimation detail, improving analytical strategies, and increasing the amount of high-quality data. METHODS: We estimated incidence and prevalence for 354 diseases and injuries and 3484 sequelae. We used an updated and extensive body of literature studies, survey data, surveillance data, inpatient admission records, outpatient visit records, and health insurance claims, and additionally used results from cause of death models to inform estimates using a total of 68 781 data sources. Newly available clinical data from India, Iran, Japan, Jordan, Nepal, China, Brazil, Norway, and Italy were incorporated, as well as updated claims data from the USA and new claims data from Taiwan (province of China) and Singapore. We used DisMod-MR 2.1, a Bayesian meta-regression tool, as the main method of estimation, ensuring consistency between rates of incidence, prevalence, remission, and cause of death for each condition. YLDs were estimated as the product of a prevalence estimate and a disability weight for health states of each mutually exclusive sequela, adjusted for comorbidity. We updated the Socio-demographic Index (SDI), a summary development indicator of income per capita, years of schooling, and total fertility rate. Additionally, we calculated differences between male and female YLDs to identify divergent trends across sexes. GBD 2017 complies with the Guidelines for Accurate and Transparent Health Estimates Reporting