86,579 research outputs found
Litigation risks and firms innovation dynamics after the IPO
No full textAn initial public offering (IPO) is a critical event in a firm’s life cycle which can reshape its innovation strategy. Research suggests that after going public firms experience an increase in patent productivity. Our paper explores perceived litigation risks as a determinant of this outcome by examining US semiconductor firms. Results show that perceived patent litigation risks are positively associated with patent productivity after the IPO. Interestingly, we also find that the amount of capital raised during the IPO is positively associated with patent productivity after the IPO, successfully replicating previous findings on this relationship. These results are robust to model specifications where we attempt to account for the dynamics of self-selection of firms into IPO by considering matched control firms with similar pre-IPO characteristics, but that never went public
IPO Performance and Strategic Management of IPRs: Evidence from the US Semiconductor Industry
No full textProactive financial reporting enforcement: audit fees and financial reporting quality effects
No full textWe examine the costs and benefits of proactive financial reporting enforcement by the U.K. Financial Reporting Review Panel. Enforcement scrutiny is selective and varies by sector and over time, yet can be anticipated by auditors and companies. We find evidence that increased enforcement intensity leads to temporary increases in audit fees and more conservative accruals. However, cross-sectional analysis across market segments reveals that audit fees increase primarily in the less-regulated AIM segment, and especially those AIM companies with a higher likelihood of financial distress and less stringent governance. On the contrary, less reliable operating asset-related accruals are more conservative in the Main segment and, in particular, those Main companies with stronger incentives for higher financial reporting quality. Overall, our study indicates that financial reporting enforcement generates costs and benefits, but not always for the same companies
IPO performance and strategic management of IPRs: evidence from the US semiconductor industry
No full textIn order to complement previous literature, we intend to analyze whether and to what extent the choice of a given patent commercialization strategy by a high-technology company affects its pricing at IPO. We focus on the impact of commercialization strategy because, ceteris paribus, it can significantly affect the uncertainty over the firm value and therefore information asymmetries and underpricing. We will analyze such research questions in the semiconductor industry and we refer in particular to two different commercialization strategies (Hall and Ziedonis 2001; Linden and Somaya, 2003; Ahuja and Lahiri 2006): a) licensing-based strategies adopted by firms focusing on the development of patented technologies which are then licensed to external partners (so called fabless companies); b) integrated strategies, adopted by firms which engage in the development, manufacturing and commercialization of new technologies
Stock market valuation of patent portfolios: Offprint of Paragraph 5
No full textThe investors in the stock market place a value on patent portfolios of traded firms in addition to
other corporate assets.
A growing body of empirical literature has documented a significantly positive relationship
between patents and firm market value. In addition, the market seems to recognize the different
quality of different patent portfolios. Therefore, a better understanding of how the stock market
evaluates firms’ patents can be important for managers and professionals.
Accordingly, this chapter analyzes the theoretical and methodological foundations of the
relationship between patents and market value and it reviews the main results of the empirical
literature, discussing the implications for patent valuation
Data set from the article Malavazos AE, Capitanio G, Milani V, Ambrogi F, Matelloni IA, Basilico S, Dubini C, Sironi FM, Stella E, Castaldi S, Secchi F, Menicanti L, Iacobellis G, Corsi Romanelli MM, Carruba MO, Morricone LF. Tri-Ponderal Mass Index vs body Mass Index in discriminating central obesity and hypertension in adolescents with overweight. Nutr Metab Cardiovasc Dis. 2021 May 6;31(5):1613-1621. doi: 10.1016/j.numecd.2021.02.013. Epub 2021 Feb 23. Erratum in: Nutr Metab Cardiovasc Dis. 2021 Oct 28;31(11):3247-3248. PMID: 33741212.
No full textData set from the article Malavazos AE, Capitanio G, Milani V, Ambrogi F, Matelloni IA, Basilico S, Dubini C, Sironi FM, Stella E, Castaldi S, Secchi F, Menicanti L, Iacobellis G, Corsi Romanelli MM, Carruba MO, Morricone LF. Tri-Ponderal Mass Index vs body Mass Index in discriminating central obesity and hypertension in adolescents with overweight. Nutr Metab Cardiovasc Dis. 2021 May 6;31(5):1613-1621. doi: 10.1016/j.numecd.2021.02.013. Epub 2021 Feb 23. Erratum in: Nutr Metab Cardiovasc Dis. 2021 Oct 28;31(11):3247-3248. PMID: 33741212.
Astrac
The Maestro of Multiple Voices: The ‘Absolute Music’ of Ennio Morricone
No full textEnnio Morricone’s 2016 Oscar for Tarantino’s The Hateful Eight came after a decades-long succession of nominations for his scores to Days of Heaven (Terrence Malick, 1979), The Mission (Roland Joffe, 1986), The Untouchables (Brian de Palma, 1987), Bugsy (Barry Levinson, 1991), and Malena (Giuseppe Tornatore, 2000). These are just the tip of the iceberg for Morricone, who has composed music for some four hundred and fifty film and television productions since the early 1960s when he rose to international prominence after the success of A Fistful of Dollars (Sergio Leone, 1964). Dwarfed by this gargantuan record of accomplishment in music for cinema, Morricone’s output as a composer of ‘absolute music’ nonetheless represents a substantial body of work spanning some one hundred and twenty compositions for orchestra, choir, piano, percussion, various soloists, organ, guitar, harp, brass, strings, woodwinds, harmonica, harpsichord, synthesizers and tape. Additionally, the experimental music that issued from his involvement as trumpeter and flautist with improvisation group Nuova Consonanza between 1965 and 1980 reflects the influence of avant-garde composers John Cage and Giacinto Scelsi, funk and free jazz. This essay considers several of Morricone’s prominent concert works, including Cantata for Europe (1988), UT (1991), Voci dal silenzio (2002), Vuoto d’Anima Pien (2008), and Mass for Pope Francis (2015), within the context of his broader output. It examines how the influences of sacred music, opera, serialism, musique concrete, and populism are present in the language he applies in his film and concert music, offering intersections that connect both aspects of his work. For example, the striking polymodality of his main theme for The Mission is evident in his Mass for Pope Francis (2015), where a split choir recreates the antiphonal singing that characterized Renaissance Venetian Church music, and into the Mass’s Kyrie, Gloria, and Agnus Dei, Morricone introduces dissonance, extended vocal techniques, and phrases from The Mission theme. In Voci dal Silenzio (2002), a somber programmatic work for orchestra, choir, spoken word and tape, Morricone incorporates field recordings of vocal performances from different cultures, played over a sustained orchestral layer; a compositional choice more reflective of film soundtrack convention than that of music for the concert hall
Influence of epicardial adipose tissue and adipocytokine levels on cardiac abnormalities in visceral obesity
No full textAdipocytokine levels and visceral adipose tissue ( VAT) seem to be associated with some cardiac abnormalities and a role of visceral fat in predisposing to cardiac dysfunction, possibly through a low-grade state of inflammation, has been demonstrated. In this study we firstly show that elevated levels of both monocyte chemoattractant protein 1 ( MCP-1) and soluble IL-6 receptor/interleukin-6 ( sIL-6R/IL-6) complex are closely correlated with epicardial fat thickness
- …
