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This study examines the links between financial performance and executive compensation for high-performance companies (HPC). HPC display sustained and superior cash flow returns, asset growth, and total shareholder returns. In previous empirical analysis, HPC companies displayed specific identifiable financial performance drivers and measures when compared to companies in the S&P 500 (Needles et al., 2004). Most recently, HPC sustained their high performance when compared to the S&P 500 over varied economic periods. Further, the research identified operating asset management characteristics of these companies, especially as they relate to the cash cycle (Needles et al., 2004). Continuing this stream of research, this study first identifies the financial and non-financial performance measures related to compensation of top management of HPC as reported in the companies’ public disclosures. Then, these findings for HPC are matched to a set of comparable non-HPC. Finally, we evaluate the stated performance measures for executive compensation in light of the performance drivers and measures identified by previous research to be distinguishing characteristics of HPC. We hypothesize that HPC will more closely align stated performance measures for executive compensation with performance characteristics that have been shown to be characteristics of HPC. We find that HPC are more focused and unambiguous in their use of both financial and non-financial performance measures in executive compensation.

Purpose – This study investigates the links between strategy, execution, and financial performance with particular attention to the underlying performance drivers that describe how a company executes strategy to create financial value.

Methodology – This study empirically investigates companies in the United States and 22 other countries over a 20-year period (11 successive 10n-year periods: 1988–2007): (1) to compare financial performance characteristics of HPC versus non-HPC; (2) to study the sustainability of performance in HPC; and (3) to identify the companies that exit or enter the HPC classification and the performance drivers and performance measures that characterized the change in HPC classification.

Findings – The 20-year longitudinal results confirm the results of prior studies as to the long-term superior performance of HPC over other companies (Objective 1). For sustaining HPC, results were consistent as to total asset management, profitability, financial risk, and liquidity (Objective 2). Declining HPC companies fail at total asset management, profitability, and operating asset management and significantly increase their financial risk. Emerging HPC companies improve liquidity through improved operating asset management and cash flows (Objective 3).

Practical implications – To become a HPC management must generate increased cash flows from income, manage receivables and inventory vigorously, and reduce its debt in relation to equity. Thereafter, management must concentrate on maintaining its asset turnover and growth in revenues while maintaining its profit margin and not increasing its debt to equity.

Value of the paper – The results provide direction for management of companies that aspire to HPC status and to maintain HPC status.

The present study investigates whether companies that exhibit high performance characteristics in the pre-financial crisis period can maintain their high performance in the financial crisis period of 2007–2009 and, in particular, the post-financial crisis period of 2010–2011.

The current study of 1,473 companies in 25 countries and 66 industries (MSCI index) (1) extends the empirical research of prior studies through the year 2011; (2) identifies the operating characteristics (performance drivers and performance measures) and associated risk factors which were most critical with regard to sustaining, exiting, and entering HPC companies during the five 10-year periods since 1998–2007, and (3) summarizes conclusions about HPC results from the 13 ten-year periods (1989–1998 to 2002–2011) in this stream of research.

(1) Companies that sustain high performance over periods of financial stress clearly excel in asset turnover performance driver and on the performance measures of growth in revenues, profit margin, return on equity and return on assets. Sustaining HPC had less debt than other companies and consistent cash flow yields. Operating turnover ratios became less important in recent years as an indicator of high performance. (2) Although exiting companies maintained profitability, financial risk and liquidity, the key factor in their dropping out of HPC status is their failure to grow revenues. (3) Entering companies did not exhibit the superior performance in all categories.

The results provide strategic direction for management of companies that aspire to HPC status and to maintain HPC status once gained, particularly in times of global financial stress.

Prior research shows that companies that achieve high performance excel at certain financial objectives. This chapter addresses the question: Do companies that excel at these financial performance objectives also excel in integrated reporting and sustainability reporting?

We compare a sample of high performance companies (HPC) with a sample of companies that purport to support integrated reporting, and a sample that purport to support sustainability reporting. Our hypotheses are that HPC will equal or exceed the integrated reporting and sustainability reporting practices shown by International Integrated Reporting Committee (IIRC) and Global Reporting Initiative (GRI) companies and US companies will be less at these practices than non-US companies.

Our findings indicate that IIRC companies and GRI companies generally do not meet the high financial performance measures of the HPC. Based on an integrated reporting and sustainability reporting matrix, we show that HPC exhibit equal performance on the practices of sustainability and integrated reporting compared to GRI companies, but both HPC and GRI are lower on these practices than IIRC companies. Also, US companies disclose less information in sustainability reports and integrated reports as compared to non-US companies. Overall, all three groups fall short of full compliance with standards of integrated reporting and sustainability reporting.

This chapter provides evidence as to the financial performance and the current state of integrated reporting and sustainability reporting among HPC, GRI, and IIRC companies. This chapter highlights the global need for a generally accepted set of standards for sustainability and integrated reporting practices.

This study establishes a baseline evaluation of sustainability reporting (SR) and integrated reporting (IR) practices among groups of companies globally using a combined evaluation matrix. We evaluate a sample of high performance companies (HPC), global reporting initiative (GRI) companies, international integrated reporting committee (IIRC) companies, and a control group of companies that do not belong to any of these groups. We test for high performance and compliance with a 30-point evaluation matrix for financial reporting, corporate governance, integrated disclosure, SR, and assurance developed from the standards set by GRI and IIRC. This chapter provides evidence as to the current IR and SR states, and shows that considerable variation exists even among companies that have pledged to improve reporting in this arena. The analysis also shows that companies that belong to no special group do in fact score on a level that shows that SR and IR standards are being implemented by many companies in the world, not just those in special groups like the HPC, GRI, and IIRC. Finally, this study provides direction for global regulators and professional associations, and to the management of companies that aspire to HPC status while meeting the IR and SR standards.

This paper aims to explore the key anchors of the National Innovation System shaping the nature of collaboration between academic high-performance computing centres (academic HPC centres) and small- to medium-sized enterprises (SMEs) working in the automotive and electronics sectors of the Danube region. With two main research questions, it discusses the importance of knowledge transfer and technology transfer for collaboration between University and Industry (U-I collaboration) in three groups of developmentally distinct countries: competitively advanced, competitively intermediate and competitively lagging. As main anchors of the innovation system, stable legal environment, exciting innovation policies and strong R&D funding are recognised.

A qualitative empirical study in 14 Danube region countries included 92 focus group participants, expert representatives of academic HPC centres and SMEs. The data were audio recorded, transcribed and analysed.

The findings show the main prerequisites of the framework conditions for efficient U-I collaboration evolve through a goal-oriented National Innovation Policy and developed and functioning legal environment supporting labour market and intellectual property (IP) protection and enforcement. Additionally, skilled people are needed to be able to operate with HPC, where it seems all the countries lack such skilled workforce. In competitively lagging countries, the high levels of brain drain exhibit strong impact to U-I collaboration.

Research into relationships between academic HPC centres and SMEs conducted was qualitative; therefore, limitations in terms of generalisation arise from it. On the other hand, the research is promising in terms of offering the guidance for policy makers who can use the findings when delivering innovation policy mix, adjusted to developmental level of own innovation ecosystem.

The study is among the pioneering work in U-I collaboration between academic HPC centres and SMEs from automotive and electronics industries in the Danube region. The research addresses the dynamics of collaboration and offers policy implications to strengthen the particular U-I collaboration.

本文旨在探究國家創新系統的主要支柱; 這些支柱決定了學術性的高速網路與計算中心 (註: 此為直譯) (以下簡稱學術高網算中心) 與於多瑙河地區的汽車製造業和電子產品行業內營運的中小型企業之間的合作性質。本文透過兩條主要的研究問題、去探討知識轉移和技術轉讓對大學與產業界之間的合作的重要性而這些產業是屬於在發展階段上三個明顯不同的國家組別裏的這三個組別是 競爭先進的、競爭性中級的和競爭落後的。穩定的法律環境、令人興奮的創新政策和強大的研究與開發資金被認為是創新系統的三個主要支柱。

研究人員在14個位於多瑙河地區的國家裏進行一個質性觀察研究研究涵蓋92個焦點小組參與者、來自學術高網算中心和中小型企業的專家代表。有關的數據被錄音繼而被轉寫下來最後被分析。

研究結果顯示效率高的大學產業界合作的框架條件的主要先決條件是透過一個以目標為導向的國家創新政策而逐漸形成繼而發展起來; 另外所需的條件是一個支援勞工市場、保障知識產權、並執行有關的法律的正常運作的法律環境。其次若想與學術高網算中心一起工作技術人才是必須的因學術高網算中心內的所有國家似乎欠缺技術勞動力。在落後於競爭對手的國家裏高度的人才外流對大學與產業界之間的合作會產生重大的影響。

由於研究採用的研究方法為質性研究法故研究結果、就普遍化的歸納而言是有其局限的。唯研究結果在實務方面有其作用因政策制定者在推行與科技進步與對策有關的策略時他們可把研究結果作為指引就其自身創新生態系統的發展水準而作出適當的調整。

本研究探討涉及學術高網算中心與於多瑙河地區的汽車製造業和電子產品行業內營運的中小型企業之間合作的大學產業界合作就此而言可說是開創性研究之一。本研究探究有關的大學產業界合作的變革動力並為政策制定者提供啟示以能強化有關的合作。

This paper aims to develop a conceptual framework as a valuable investigative tool for future empirical studies examining stakeholders’ interactions within a high-performance computing (HPC) service ecosystem and identifying the enablers for better value co-creation under various service provisioning contexts.

This conceptual paper follows a theory adaptation research design that systematically examines the literature on a substantive topic encompassing HPC technology adoption and usage by European small and medium-sized enterprises (SMEs). Furthermore, it introduces theoretical perspectives from service innovation research as its methodological approach (method theory) to develop a theoretical framework for value co-creation within an HPC service ecosystem.

The conceptual framework presented in this paper identifies the critical resource elements of SMEs, which can potentially be integrated with other stakeholders’ resources and complement the limited internal resources of SMEs for enhanced value co-creation within an HPC service ecosystem.

The conceptualisation of an HPC service ecosystem and the potential of value co-creation through integrating stakeholders’ resources, presented in this paper, underscore further empirical research in this direction.

Findings from this paper can inform European policymakers for regional development to frame regional strategies and policies that enable SMEs to better uptake HPC services. Service providers can revisit their business models to reconfigure their organisational resources for enhanced value proposition and co-creation.

This study advances the agenda of transformative service research that aims uplifting changes and societal well-being through a more inclusive and sustainable value co-creation among a wider set of stakeholders within the service ecosystem.

The paper addresses an under-investigated research gap by examining SMEs’ adoption of HPC services and opportunities for higher value co-creation using a service ecosystem approach based on multi-actor interaction, collaboration and resource integration.

High performance computing (HPC) is used to solve complex calculations that personal computing devices are unable to handle. HPC offers the potential for small- and medium-size enterprises (SMEs) to engage in product innovation, service improvement and the optimization of resource allocation (Borstnar and Ilijas, 2019). However, the expensive infrastructure, maintenance costs and resource knowledge gaps that accompany the use of HPC can make it inaccessible to SMEs. By moving HPC to the cloud, SMEs can gain access to the infrastructure without the requirement of owning or maintaining it, but they will need to accept the terms and conditions of the cloud contract. This paper aims to improve how SMEs access HPC through the cloud by providing insights into the terms and conditions of HPC cloud contracts.

This paper adopts a systematic literature review by implementing a four-step approach. A comprehensive search was undertaken and results synthesized to enable this paper’s objectives to be met.

This paper proposes that SMEs could gain competitive advantage(s) by understanding their own needs and improving their contract negotiation abilities, service management skills and risk management abilities before accepting the terms and conditions of the cloud contract. Furthermore, a checklist, service-level agreement, easily ignored elements and risk areas are presented as guidance for SMEs when reviewing their HPC cloud contract(s).

While HPC cloud contracts are a niche research topic, it is one of the key factors influencing the ability of SMEs to access HPC through the cloud. It is, however, by no means a level playfield with SMEs at a distinct disadvantage because of not influencing the writing up of the HPC cloud contract. The added value of the paper is that it contributes to our overall understanding of the terms and conditions of HPC cloud contracts.

This study aims to motivate the application of some low-cost minerals in synthesizing nanoparticles as effective additives on the performance of liquid crystal (LC) hydroxypropyl cellulose (HPC) nanocomposite film, in comparison with carbon nanoallotrope.

Metallic nanoparticles of vanadium oxide, montmorillonite (MMT) and bentonite were synthesized and characterized by different techniques (Transmission electron microscopy [TEM], X-ray diffraction [XRD] and Fourier transform infrared [FTIR]). While the XRD, FTIR, non-isothermal analysis thermogravimetric analysis, mechanical analysis, scanning electron microscope and polarizing microscope were techniques used to evaluate the key role of metallic nanoparticles on the performance of HPC-nanocomposite film.

The formation of nanoparticles was evidenced from TEM. The XRD and FTIR measurements of nanocomposite films revealed that incorporating the mineral nanoparticles led to enhance the HPCs crystallinity from 14% to 45%, without chemical change of HPC structure. It is interesting to note that these minerals provide higher improvement in crystallinity than carbon nanomaterials (28%). Moreover, the MMT provided film with superior thermal stability and mechanical properties than pure HPC and HPC containing carbon nanoparticles, where it increased the E_a from 583.6 kJ/mol to 669.3 kJ/mol, tensile strength from 2.25 MPa to 2.8 MPa, Young’s modulus from 119 MPa to 124 MPa. As well as it had a synergistic effect on the LC formation and the birefringence texture of the nanocomposites (chiral nematic).

Hydroxylpropyl cellulose-nanocomposite films were prepared by dissolving the HPC powder in water to prepare 50% concentration, (free or with incorporating 5% synthesized nanoparticles). To obtain films with uniform thickness, the prepared solutions were evenly spread on a glass plate via an applicator, by adjusting the thickness to 0.2 mm, then air dried.

These minerals provide higher improvement in crystallinity than carbon nanomaterials (28%), moreover, the MMT and bentonite provided films with superior thermal stability than pure HPC and HPC containing carbon nanoparticles. The mineral nanoparticles (especially MMT nanoclays) had a synergistic effect on LC formation and the birefringence texture of the nanocomposites (chiral nematic).

This study presents the route to enhance the utilization of claystone available in El-Fayoum Province as the precursor for nanoparticles and production high performance LC nanocomposites.

This study presents the route for the valorization of low-cost mineral-based nanoparticles in enhancing the properties of HPC-film (crystallinity, thermal stability, mechanical strength), in comparison with carbon-based nanoparticles. Moreover, these nanoparticles provided more ordered mesophases and, consequently, good synergetic effect on LCs formation and the birefringence texture of the HPC-films.

This paper aims to explore high performance computing (HPC) in the context of the South East region of Ireland, which hosts a publicly available HPC infrastructure, by identifying whether companies, especially small and medium enterprises (SMEs), are using, or are prepared to use, HPC to improve their business processes, expansion and sustainability. The result of the analysis provides region-specific guidelines that are meant to improve the HPC landscape in the region. The lessons learned from this research may apply to other similar, and developing, European regions.

This paper explores the use of HPC in the context of the South East region of Ireland and examines whether companies, especially SMEs, are benefiting from the use of publicly available HPC infrastructure in the region. This paper also provides a set of recommendations, of a policy nature, and required actions to increase HPC usage, based on the reality of the region. Therefore, the first step in the process was to understand the HPC landscape in the South East region of Ireland. Interviews were conducted with higher education institute (HEI) staff who were knowledgeable about the HPC infrastructure of their institutes and also about whether collaboration between the HEIs and businesses from the same region exists. The interview findings allowed the proposal of region-specific guidelines to improve the HPC landscape and collaboration in the region. The guidelines were analysed and refined in a focus group with key regional stakeholders from academia, industry and government, who have experience and expertise in high-technology transfer processes happening in the region.

The findings of the current study strongly suggest that HPC usage by SMEs in the South East region of Ireland is still incipient; and that HPC knowledge is currently inadequately transferred from the HEI hosting the HPC infrastructure to public and private sector organisations based in the region. The findings also demonstrate that there are no courses or training programmes available dedicated to HPC and that the level of collaboration between the HEI hosting the HPC infrastructure and industry in the region is minimal as regards HPC usage and projects. Therefore, there is a need to put specific targeted policies and actions, both from a regional government and HEI perspectives, in place to encourage SMEs to optimise their processes by using HPC.

This research is unique as it provides customised region-specific recommendations (RSR) and feasible actions to encourage industry, especially SMEs, to use HPC and collaborate around it. The literature review identified that there is a lack of studies that can inform policymakers to include HPC in their innovation agenda. Previous research studies specifically focussing on HPC policies are even more scarce. Most of the existing research pertaining to HPC focusses on the technical aspect of HPC; therefore, this research and paper bring a new dimension to existing HPC research. Even though this research was focussed on the South East of Ireland region, the model that generated the RSRs can be extrapolated and applied to other regions that need to develop their HPC landscape and the use of HPC among SMEs in their respective regions.