Intellectual Capital Disclosure Quality Changes in the Biotechnology Industry, 2003-10

The purpose of this research project was to examine the voluntary disclosure quality for intellectual capital by Australian biotechnology companies between 2003 and 2010. Measurement was made in the annual reports of the same 28 biotechnology firms in 2003, 2006 and 2010. Content analysis of narrative and measurement items, based on Sveiby’s ‘Intangible Assets Monitor’ categories (Internal, External and Human Capital) were used to accurately record the quality of voluntary ICD. Although expected, there was no demonstrable increase in the quality of voluntary ICD measured by Wilcoxon Signed Rank Test. In fact, the only significant change in quality of ICD reporting in the firm’s annual reports was a significant decrease in ‘Internal Capital’ of the type most commonly recorded for intellectual property, financial relations and corporate culture. Key success factors for ‘Human Capital’ ICD, for example staff qualifications and know-how, or ‘External capital’ ICD, like those about collaborations, licensing agreements and grant funding, were certainly not absent from disclosures, but an expected increase in quality was not detected. A limitation of this study is its Australian context. Financial managers’ distraction by 2006 IFRS harmonization (intangible asset balance sheet de-recognition) and insulation of the Australian equities market to recent global events may partly explain our observation

Validating a Novel New Instrument for Measuring Firm Managers' Intellectual Property Management Practices: A study of biotechnology firms

Purpose: The purpose of this research project was to pilot and validate a new instrument to measure firm intellectual property (IP) management practices.Methodology/Approach: A survey instrument was developed in consultation with a Perth-based firm of patent attorneys specialising in IP management services. The survey was piloted by random mail-out to 357 biotechnology firms, 68 of which returned a useable response. IP managers' responses to the following seven dimensions of extent of IP management practice were measured on a 5-point Likert-scale: 1) Record-keeping and management practices (22 items); 2) IP capture and protection mechanisms (10 items); 3) Use of IP management services or traditional patent attorney services (9 items); 4) Defensive measures (12 items); 5) Business Plan and strategic vision (9 items); 6) Knowledge of the IP landscape (9 items); and, 7) Promoting an IP culture (7 items). Factor Analysis and Principle Component Analysis extraction method with Varimax Rotation were used to identify factors measured by our instrument.Findings: Between two and seven factors were extracted for each of the dimensions measuring IP management practices, explaining between 51% (IP Defensive Measures) to 74% (IP management services and traditional patent attorney services) of the cumulative variance on any one factors. Scrutiny of the Component Matrices for a common thread amongst large loadings indicated thirteen actual measures of IP management practices perceived by biotechnology firm IP managers; with high Cronbach's Alpha reliability.Research limitations/implications: Factor analysis of this instrument revealed that IP managers' responses were loading on 13 factors instead of the original 7 anticipated dimensions to the measure. The spread of 78 item was reduced to a more relevant and economical measure with 56 items. As scrutiny of the factor analysis has revealed increasing heterogeneity to IP management practices in the biotechnology industry, it might be interesting to repeat the study for IP managers in another industry. A limitation of the study is its Australian biotechnology context and also that no concession was made in the measure for the effect of firm vertical disintegration.Originality/value: To our knowledge this is a novel project. We have validated and streamlined a new IP management practices instrument with advice from a practicing firm of IP management consultants. The instrument should be useful to high-technology firms as a checklist of IP management practices for innovation management. It should also be a valuable measurement tool for academics, firms and industries wanting to characterise the nature of firm-level IP management practices

The moduli space of stable quotients

A moduli space of stable quotients of the rank n trivial sheaf on stable curves is introduced. Over nonsingular curves, the moduli space is Grothendieck's Quot scheme. Over nodal curves, a relative construction is made to keep the torsion of the quotient away from the singularities. New compactifications of classical spaces arise naturally: a nonsingular and irreducible compactification of the moduli of maps from genus 1 curves to projective space is obtained. Localization on the moduli of stable quotients leads to new relations in the tautological ring generalizing Brill-Noether constructions. The moduli space of stable quotients is proven to carry a canonical 2-term obstruction theory and thus a virtual class. The resulting system of descendent invariants is proven to equal the Gromov-Witten theory of the Grassmannian in all genera. Stable quotients can also be used to study Calabi-Yau geometries. The conifold is calculated to agree with stable maps. Several questions about the behavior of stable quotients for arbitrary targets are raised.Comment: 50 page

Three-dimensional Magnetic Restructuring in Two Homologous Solar Flares in the Seismically Active NOAA AR 11283

We carry out a comprehensive investigation comparing the three-dimensional magnetic field restructuring, flare energy release, and the helioseismic response, of two homologous flares, the 2011 September 6 X2.1 (FL1) and September 7 X1.8 (FL2) flares in NOAA AR 11283. In our analysis, (1) a twisted flux rope (FR) collapses onto the surface at a speed of 1.5 km/s after a partial eruption in FL1. The FR then gradually grows to reach a higher altitude and collapses again at 3 km/s after a fuller eruption in FL2. Also, FL2 shows a larger decrease of the flux-weighted centroid separation of opposite magnetic polarities and a greater change of the horizontal field on the surface. These imply a more violent coronal implosion with corresponding more intense surface signatures in FL2. (2) The FR is inclined northward, and together with the ambient fields, it undergoes a southward turning after both events. This agrees with the asymmetric decay of the penumbra observed in the peripheral regions. (3) The amounts of free magnetic energy and nonthermal electron energy released during FL1 are comparable to those of FL2 within the uncertainties of the measurements. (4) No sunquake was detected in FL1; in contrast, FL2 produced two seismic emission sources S1 and S2 both lying in the penumbral regions. Interestingly, S1 and S2 are connected by magnetic loops, and the stronger source S2 has weaker vertical magnetic field. We discuss these results in relation to the implosion process in the low corona and the sunquake generation.Comment: 12 pages, 9 figures, accepted to the Astrophysical Journa

Effects of a transitional palliative care model on patients with end-stage heart failure: study protocol for a randomized controlled trial

BACKGROUND: Heart failure (HF) is characterized by high rates of readmission after hospitalization, and readmission is a major contributor to healthcare costs. The transitional care model has proven efficacy in reducing the readmission rate and economic outcomes, and increasing satisfaction with care. However, the effectiveness of the transitional care model has not been evaluated in patients with end-stage HF. This study was designed to compare the customary hospital-based care and a comprehensive transitional care model, namely the Home-based Palliative HF Program (HPHP), in terms of readmission rate, quality of life, and satisfaction with care among end-stage HF patients under palliative care. METHODS/DESIGN: This is a randomized controlled trial taking place in hospitals in Hong Kong. We have been recruiting patients with end-stage HF who are identified as appropriate for palliative care during hospitalization, on referral by their physicians. A set of questionnaires is collected from each participant upon discharge. Participants are randomized to receive usual care (customary hospital-based care) or the intervention (HPHP). The HPHP will be implemented for up to 12 months. Outcome measures will be performed at 1, 3, 6, and 12 months post-discharge. The primary outcome of this study is quality of life measured by the Chronic Heart Failure Questionnaire - Chinese version; secondary outcomes include readmission rate, symptom intensity, functional status, and satisfaction with care. DISCUSSION: This study is original and will provide important information for service development in the area of palliative care. The introduction of palliative care to end-stage organ failure patients is new and has received increasing attention worldwide in the last decade. This study adopts the randomized controlled trial, a vigorous research design, to establish scientific evidence in exploring the best model for end-stage HF patients receiving palliative care. TRIAL REGISTRATION: This trial was registered as NCT02086305 on 7 March 2014 in the United States Clinical Trials Registration, and in the Clinical Trials Registry, Hong Kong University with the trial number UW12202. ELECTRONIC SUPPLEMENTARY MATERIAL: The online version of this article (doi:10.1186/s13063-016-1303-7) contains supplementary material, which is available to authorized users

Repeatable and adjustable on-demand sciatic nerve block with phototriggerable liposomes

Pain management would be greatly enhanced by a formulation that would provide local anesthesia at the time desired by patients and with the desired intensity and duration. To this end, we have developed near-infrared (NIR) light-triggered liposomes to provide on-demand adjustable local anesthesia. The liposomes contained tetrodotoxin (TTX), which has ultrapotent local anesthetic properties. They were made photo-labile by encapsulation of a NIR-triggerable photosensitizer; irradiation at 730 nm led to peroxidation of liposomal lipids, allowing drug release. In vitro, 5.6% of TTX was released upon NIR irradiation, which could be repeated a second time. The formulations were not cytotoxic in cell culture. In vivo, injection of liposomes containing TTX and the photosensitizer caused an initial nerve block lasting 13.5 ± 3.1 h. Additional periods of nerve block could be induced by irradiation at 730 nm. The timing, intensity, and duration of nerve blockade could be controlled by adjusting the timing, irradiance, and duration of irradiation. Tissue reaction to this formulation and the associated irradiation was benign.National Institutes of Health (U.S.) (GM073626