scholarly journals Endogenous financial constraints and innovation

2020 ◽  
Author(s):  
Henry Lahr ◽  
Andrea Mina
Keyword(s):  
Research And Development ◽  
Financial Constraints ◽  
Bivariate Probit ◽  
Innovation Activities ◽  
Probit Models ◽  
Innovation Surveys ◽  
The Uk

Abstract We investigate which indicators of a firm’s innovation activities are associated with financial constraints and analyze the nature and direction of causal links between innovation and financial constraints. By estimating simultaneous bivariate probit models on data from the UK Innovation Surveys, we show that among innovation inputs, research and development (R&D) activity increases the likelihood that firms face financial constraints. Among innovation outputs, only new-to-market products generate financial constraints. Reverse effects on innovation appear limited to external R&D.

scholarly journals A history of high-power laser research and development in the United Kingdom

2021 ◽  
Vol 9 ◽  
Author(s):  
Colin N. Danson ◽  
Malcolm White ◽  
John R. M. Barr ◽  
Thomas Bett ◽  
Peter Blyth ◽  
...  
Keyword(s):  
Research And Development ◽  
High Power ◽  
Laser Action ◽  
Historical Review ◽  
High Power Laser ◽  
Power Laser ◽  
The United Kingdom ◽  
History Of ◽  
The Uk ◽  
Made In

Abstract The first demonstration of laser action in ruby was made in 1960 by T. H. Maiman of Hughes Research Laboratories, USA. Many laboratories worldwide began the search for lasers using different materials, operating at different wavelengths. In the UK, academia, industry and the central laboratories took up the challenge from the earliest days to develop these systems for a broad range of applications. This historical review looks at the contribution the UK has made to the advancement of the technology, the development of systems and components and their exploitation over the last 60 years.

She-E-Os and innovation: do female CEOs influence firm innovation?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hafiz Mustansar Javaid ◽  
Qurat Ul Ain ◽  
Antonio Renzi
Keyword(s):  
Financial Constraints ◽  
Ordinary Least Squares ◽  
State Ownership ◽  
Corporate Environment ◽  
Firm Innovation ◽  
Content Type ◽  
Innovation Activities ◽  
Female Ceos ◽  
Innovation Output ◽  
The Impact

PurposeThis paper empirically investigates whether female CEOs (She-E-Os) have an effect on firm innovation among Chinese listed firms based on patent data. This study also delved further by looking at whether the internal corporate environment moderates the effect of female CEOs on innovation, that is, state ownership. Finally, this study investigates an additional test of financial constraints to examine whether financial constraints also moderate the impact of female CEOs on firm innovation.Design/methodology/approachThis study used the data of all A-share listed companies on the Shanghai and Shenzhen stock exchanges for the period from 2008 to 2017. The authors use ordinary least squares regression as a baseline methodology, along with firm-fixed effect, lagged measure of female CEOs, alternative measures of innovation, Heckman two-step model and negative binomial regression to check and control the possible issue of endogeneity.FindingsThe authors’ findings show that CEO gender plays an important role in producing higher levels of innovation output by improving the governance structure. However, female CEOs have no effect on state-owned enterprises' (SOEs) innovation activities, which suggests that the main goal of SOEs is achieving sociopolitical objectives. Furthermore, female CEOs' influence on innovation output is weaker in firms with financial constraints.Social implicationsThis study adds to the emerging global discussion on gender diversity. Many legislative bodies require a quota for women on corporate boards due to gender inequality. This study's findings reinforce such guidelines by emphasizing the economic benefits of including women in top management positions.Originality/valueThis study provides new insights by highlighting the role of female CEOs in increasing firms' innovation activities. Additionally, this study provides evidence on whether the internal corporate environment (state ownership and financial constraints) moderates female CEOs' effect on innovation.

Should critical care doctors be part of the cardiac arrest call team?

2020 ◽  
Vol 81 (2) ◽  
pp. 1-2
Author(s):  
Maxime T Rigaudy ◽  
Feras Tomalieh ◽  
Sanya Caratella
Keyword(s):  
Cardiac Arrest ◽  
Critical Care ◽  
Financial Constraints ◽  
The World ◽  
The Uk ◽  
Cardiac Arrest Team ◽  
Resuscitation Team

The composition of the cardiac arrest team varies widely both throughout the UK and the world. There are no agreed standards regarding the composition of the resuscitation team, and variety in teams is often dictated by availability of staff and financial constraints. This article discusses the evidence for and against the inclusion of critical care doctors on the cardiac arrest call team.

Bayesian Versus Maximum Likelihood Estimation of Treatment Effects in Bivariate Probit Instrumental Variable Models

2018 ◽  
Vol 7 (3) ◽  
pp. 651-659 ◽  
Author(s):  
Florian M. Hollenbach ◽  
Jacob M. Montgomery ◽  
Adriana Crespo-Tenorio
Keyword(s):  
Maximum Likelihood ◽  
Maximum Likelihood Estimation ◽  
Instrumental Variable ◽  
Likelihood Estimation ◽  
Direct Calculation ◽  
Causal Effects ◽  
Parameter Estimates ◽  
Bivariate Probit ◽  
Probit Models ◽  
Quantities Of Interest

Bivariate probit models are a common choice for scholars wishing to estimate causal effects in instrumental variable models where both the treatment and outcome are binary. However, standard maximum likelihood approaches for estimating bivariate probit models are problematic. Numerical routines in popular software suites frequently generate inaccurate parameter estimates and even estimated correctly, maximum likelihood routines provide no straightforward way to produce estimates of uncertainty for causal quantities of interest. In this note, we show that adopting a Bayesian approach provides more accurate estimates of key parameters and facilitates the direct calculation of causal quantities along with their attendant measures of uncertainty.

Sellafield Decommissioning Programme: Progress Update

2003 ◽  
Author(s):  
S. F. Challinor
Keyword(s):  
Research And Development ◽  
Fuel Cycle ◽  
Step Change ◽  
Nuclear Facilities ◽  
Extensive Experience ◽  
Strategic Direction ◽  
Wide Range ◽  
Uk Government ◽  
The Uk

In 1999 the UK government announced a step change in the strategy for the delivery of the UK civil nuclear clean-up programme. BNFL has responded to the Governments announcement by changing the strategic direction and increasing the priority on remediation activities across the Company. BNFL has extensive experience in decommissioning nuclear facilities having undertaken remediation and decommissioning operations on BNFL sites for many years, encompassing a wide range of projects including reactors, fuel cycle plants and Research and Development facilities. This paper describes the challenges posed by, and the progress made, on some of the range of decommissioning projects undertaken on the Sellafield site as part of its decommissioning and remediation portfolio. These decommissioning operations cover a variety of redundant fuel cycle facilities ranging in size and complexity in both beta gamma and alpha contamination environments utilising manual and remote decommissioning techniques to systematically and progressively reduce the hazard on the site.

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