From start-up to acquisition: Implications of financial investment trends for small- to medium-sized high-tech enterprises

The high-technology (high-tech) industry is a dynamic environment defined by both frequent changes in composition and a concentration of market power through consolidation. Operating as a new or small venture within this environment poses many complex challenges, especially when considering the financial resources needed to be successful. In their efforts to obtain financial resources, entrepreneurs often overlook how the choice and pattern of investment funding to maintain a growth path can later affect a successful entrepreneurial exit. Exit via acquisition for small- to medium-sized technology enterprises (SMTEs) is a strong area of interest given firms in the U.S. high-tech industry experience the fastest growth rates and have been the target of over $400 billion in deal volume and 20% of all merger and acquisition (M&A) transactions in the last twenty years. Much of this M&A activity is conducted by five prominent firms, Alphabet, Amazon, Apple, Facebook, Microsoft, commonly referred to as the Fearsome Five or the “FANGS”. However, as there has been only limited research examining this unique M&A context, in this study we explore the investment funding factors influencing exit via acquisition by the Fearsome Five. We highlight questions and potential concerns for SMTEs given the trends in financial investments and increasing market power

Policies that Enhance Learning and Teaching

Educational institutions often implement policies with the intention of influencing how learning and teaching occur. Generally, such policies are not as effective as their makers would like; changing the behavior of third-level teachers proves difficult. Nevertheless, a policy instituted in 2006 at the Dublin Institute of Technology has met with success: each newly hired faculty member must have a post-graduate qualification in “Learning and Teaching” or successfully complete one within the first two years of employment. The intention is to build teachers’ knowledge about student-centered pedagogies and their capacity to implement them. As a result of this policy (and associated programs that support it), positive outcomes are readily apparent. Individual teachers who have completed the programs have implemented significant change at the course and program levels. This paper introduces the policy, identifies outcomes in relation to existing theory, describes research underway, and pinpoints areas where organizational learning has occurred

The HITRAN 2008 molecular spectroscopic database

This paper describes the status of the 2008 edition of the HITRAN molecular spectroscopic database. The new edition is the first official public release since the 2004 edition, although a number of crucial updates had been made available online since 2004. The HITRAN compilation consists of several components that serve as input for radiative-transfer calculation codes: individual line parameters for the microwave through visible spectra of molecules in the gas phase; absorption cross-sections for molecules having dense spectral features, i.e. spectra in which the individual lines are not resolved; individual line parameters and absorption cross-sections for bands in the ultraviolet; refractive indices of aerosols, tables and files of general properties associated with the database; and database management software. The line-by-line portion of the database contains spectroscopic parameters for 42 molecules including many of their isotopologues. (c) 2009 Elsevier Ltd. All rights reserved

Broadband enhancement of light emission in silicon slot waveguides

We investigate the light emission properties of electrical dipole emitters inside 2-dimensional (2D) and 3-dimensional (3D) silicon slot waveguides and evaluate the spontaneous emission enhancement (F_p) and waveguide coupling ratio (β). Under realistic conditions, we find that greater than 10-fold enhancement in F_p can be achieved, together with a β as large as 0.95. In contrast to the case of high Q optical resonators, such performance enhancements are obtained over a broad wavelength region, which can cover the entire emission spectrum of popular optical dopants such as Er. The enhanced luminescence efficiency and the strong coupling into a limited set of well-defined waveguide modes enables a new class of power-efficient, CMOS-compatible, waveguide-based light sources

Universality in movie rating distributions

In this paper histograms of user ratings for movies (1,...,10) are analysed. The evolving stabilised shapes of histograms follow the rule that all are either double- or triple-peaked. Moreover, at most one peak can be on the central bins 2,...,9 and the distribution in these bins looks smooth `Gaussian-like' while changes at the extremes (1 and 10) often look abrupt. It is shown that this is well approximated under the assumption that histograms are confined and discretised probability density functions of L\'evy skew alpha-stable distributions. These distributions are the only stable distributions which could emerge due to a generalized central limit theorem from averaging of various independent random avriables as which one can see the initial opinions of users. Averaging is also an appropriate assumption about the social process which underlies the process of continuous opinion formation. Surprisingly, not the normal distribution achieves the best fit over histograms obseved on the web, but distributions with fat tails which decay as power-laws with exponent -(1+alpha) (alpha=4/3). The scale and skewness parameters of the Levy skew alpha-stable distributions seem to depend on the deviation from an average movie (with mean about 7.6). The histogram of such an average movie has no skewness and is the most narrow one. If a movie deviates from average the distribution gets broader and skew. The skewness pronounces the deviation. This is used to construct a one parameter fit which gives some evidence of universality in processes of continuous opinion dynamics about taste.Comment: 8 pages, 5 figures, accepted for publicatio

Spontaneous emission of an atom placed near a nanobelt of elliptical cross-section

Spontaneous emission of an atom (molecule) placed near a nanocylinder of elliptical cross-section of an arbitrary composition is studied. The analytical expressions have been obtained for the radiative and nonradiative channels of spontaneous decay and investigated in details.Comment: 35 pages, 11 figure