Finding the Next Unicorn: When Big Data Meets Venture Capital

Venture capital (VC) has been growing rapidly in recent years. So far the screening and evaluation of potential startups as investment objects largely depends on the venture capitalist’s personal experience, network and qualitative evaluations. In the era of big data, the advent of new data sources and analytic techniques enables a data-driven investment process. Grounded in systems theory and the theory of complementarity, this study reports the findings from an exploratory study of 13 VC firms that synthesize and use novel data sources. Our analysis shows that the data-driven approach, in particular, impacts the deal origination and screening stages of investment. It leads to informational and transactional benefits, which lower operational costs in the short term and enlarge the potential return on investment of a VC firm in the long term. We contribute to the literature by shedding light on how various data sources complementarily lead to additional business value

SETTING TARGETS RIGHT! HOW NON-RATIONAL BIASES AFFECT THE RISK PREFERENCE OF IT-OUTSOURCING DECISION MAKERS - AN EMPIRICAL INVESTIGATION

During the past 20 years, a rich but diverse body of knowledge has accumulated regarding information technology outsourcing (ITO). Researchers have studied several factors that explain ITO decisions. So far, previous studies resorted mainly to rational efficiency criteria. In recent years researchers started to integrate soft factors into the explanatory models. In many cases, the failure of ITO projects still cannot be fully explained. By expanding ITO research in the direction of behavioral economics, this paper integrates psychological concepts that demonstrate that IT decision makers suffer from non-rational biases. Representing a broad variety of biases, this empirical study focuses on cognitive dissonance and reference point dependency. Using a structural equation model, based on an online survey with 198 participants, we show that IT decision makers use targets of past decisions as reference points. The assessment of target achievement in a subsequent decision can evoke cognitive dissonance that non-rationally affects the risk preferences of the decision maker. Two fictional scenarios demonstrate the practical implications of our study. Setting targets too high can cause non-rational risk affinity, potentially leading to project failure. Conversely, setting targets too low may cause non-rational risk aversion restraining the decision maker to make use of the full performance of a project

Pricing of Content Services – An Empirical Investigation of Music as a Service

In the last years new concepts of digital music distribution have been developed. One of them is Music as a Service, which provides music streaming over the internet as a service - without transferring ownership for the content. This differentiates Music as a Service from Download to Own, which is used by music download platforms predominantly and is the most widely studied concept in academic research. The aim of this paper is to receive first research implications about customers’ attitudes towards MaaS. Based on an empirical survey of 132 Music as a Service users, this research explores the effects of product configurations on consumers’ utility and their willingness to pay (WTP) for premium offers. We can show that next to price, contract duration and music quality as the most important product attributes, there is a high WTP for overcoming insufficient mobile internet coverage

α-parvin is required for epidermal morphogenesis, hair follicle development and basal keratinocyte polarity

Epidermal morphogenesis and hair follicle (HF) development depend on the ability of keratinocytes to adhere to the basement membrane (BM) and migrate along the extracellular matrix. Integrins are cell-matrix receptors that control keratinocyte adhesion and migration, and are recognized as major regulators of epidermal homeostasis. How integrins regulate the behavior of keratinocytes during epidermal morphogenesis remains insufficiently understood. Here, we show that α-parvin (α-pv), a focal adhesion protein that couples integrins to actin cytoskeleton, is indispensable for epidermal morphogenesis and HF development. Inactivation of the murine α-pv gene in basal keratinocytes results in keratinocyte-BM detachment, epidermal thickening, ectopic keratinocyte proliferation and altered actin cytoskeleton polarization. In vitro, α-pv-null keratinocytes display reduced adhesion to BM matrix components, aberrant spreading and stress fibers formation, and impaired directed migration. Together, our data demonstrate that α-pv controls epidermal homeostasis by facilitating integrin-mediated adhesion and actin cytoskeleton organization in keratinocytes

Effects of eHealth Literacy on General Practitioner Consultations: A Mediation Analysis.

BackgroundMost evidence (not all) points in the direction that individuals with a higher level of health literacy will less frequently utilize the health care system than individuals with lower levels of health literacy. The underlying reasons of this effect are largely unclear, though people's ability to seek health information independently at the time of wide availability of such information on the Internet has been cited in this context.ObjectiveWe propose and test two potential mediators of the negative effect of eHealth literacy on health care utilization: (1) health information seeking and (2) gain in empowerment by information seeking.MethodsData were collected in New Zealand, the United Kingdom, and the United States using a Web-based survey administered by a company specialized on providing online panels. Combined, the three samples resulted in a total of 996 baby boomers born between 1946 and 1965 who had used the Internet to search for and share health information in the previous 6 months. Measured variables include eHealth literacy, Internet health information seeking, the self-perceived gain in empowerment by that information, and the number of consultations with one's general practitioner (GP). Path analysis was employed for data analysis.ResultsWe found a bundle of indirect effect paths showing a positive relationship between health literacy and health care utilization: via health information seeking (Path 1), via gain in empowerment (Path 2), and via both (Path 3). In addition to the emergence of these indirect effects, the direct effect of health literacy on health care utilization disappeared.ConclusionsThe indirect paths from health literacy via information seeking and empowerment to GP consultations can be interpreted as a dynamic process and an expression of the ability to find, process, and understand relevant information when that is necessary

Linkage of the current ALS-resistance status with field history information of multiple fields infested with blackgrass (Alopecurus myosuroides Huds.) in southern Germany

The repetitive use of herbicides as major tool to control troublesome weeds in agriculture caused an increase in resistant weeds lately, especially when Integrated Weed Management principles were ingnored. In a case study approach we sampled blackgrass (Alopecurus myosuroides Huds.) in three distinctive locations for at least 3 years. Based on field infestation level, greenhouse biotests and laboratory analyses we grouped 23 fields as resitant (R), 28 fields as less sensitive (I) and 39 fields as sensitive (S) with regard to their ALS resistance status. Field history information was collected for 90 fields. Variables regarding the frequency of 1) summer crops, 2) winter cerals, 3) ploughing, 4) herbicide use, and 5) early versus late seeding were calculated. Fields with a higher frequency of summer crops, ploughing and later sowing dates in the crop rotation were less frequently grouped into R and I. No relationship was found between the number of modes of action used and the resistance status. Intensity of ALS-inhibitor use of grass herbicides played a role to distinguish resistant from sensitive fields. Our results suggest that cultural measures to bring the blackgrass population size to lower levels are more important than the selection by the herbicide.Zusammenhang des ALS-Resistenzstatus bei Ackerfuchsschwanz (Alopecurus myosuroides Huds.) mit den durchgeführten Bewirtschaftungsmaßnahmen auf mehreren Feldern in SüddeutschlandDer übermäßige Einsatz von Herbiziden als einzige Maßnahme zur Reduzierung von Problemunkräutern hat in den letzten jahren zu einer Zunahme resistenter Unkrautpopulationen geführt. Im Rahmen einer Fallstudie wurde daher Ackerfuchsschwanzsamen (Alopecurus myosuroides Huds.) an 3 Standorten über einen Zeitraum von mindetstens 3 Jahren beprobt. Basierend auf einer Befallseinschätzung im Feld, Gewächshaustests und Laboranalysen wurden 23 Felder als resistent (R), 28 Felder als vermindert sensitiv (I) und 39 Felder als sensitive Felder (S) gegenüber ALS-Inhibitoren klassifiziert. In Interviews mit den Landwirten konnten die Bewirtschaftungsmaßnahmen für diese 90 Felder erfragt werden. Aus diesen wurden Variablen, die den Anteil an 1) der Sommerungen in der Fruchtfolge, 2) des Wintergetreides in der Fruchtfolge, 3) den Pflugeinsatz, 4) den Herbizideinsatz sowie 5) die Saatzeitpunktewahl repräsentieren, generiert. Mit einer Zunahme an Sommerungen in der Fruchtfolge, einem erhöhten Pflugeinsatz sowie der häufigeren Wahl später Saatterminewar eine geringere Häufigkeit an resistenten Feldern zu beobachten. Dagegen wurde kein Zusammenhang zwischen der Anzahl der eingesetzten Wirkstoffklassen und dem Resistenzstatus gefunden. Signifikante Unterschiede beim Einsatz von ALS-Inhibitoren waren nur zwischen S und R erkennbar. Unsere Ergebnisse zeigen, dass ackerbauliche Maßnahmen eine stärkere Wirkung auf die Resistenzentwicklung haben, als die Häufigkeit and Art des Herbizid-Einsatzes

Assessing periodicity of periodic leg movements during sleep

Periodic leg movements (PLM) during sleep consist of involuntary periodic movements of the lower extremities. The debated functional relevance of PLM during sleep is based on correlation of clinical parameters with the PLM index (PLMI). However, periodicity in movements may not be reflected best by the PLMI. Here, an approach novel to the field of sleep research is used to reveal intrinsic periodicity in inter movement intervals (IMI) in patients with PLM