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Small firms, which represent much of the Silicon Valley region, tend to experience losses due to their small scale, small customer base and lack of diversification. The authors study the impact of accounting conservatism and losses on firm value and as such this study is an appropriate addition to this growing field of financial management.

The authors use methodology developed in prior literature to examine Silicon Valley and non-Silicon Valley firms' and their behavior when facing losses and the factors, which might play a role in their valuation. The authors focus particularly on earnings and accounting conservatism. Accounting conservatism captures how fast firms record losses relative to gains. The faster losses are recognized than gains the more accounting conservatism is exhibited. The authors examine the seemingly unrelated estimation of differences in means for our independent variables of interest across the two samples of Silicon Valley and non-Silicon Valley firms, both earnings and accounting conservatism. The authors use matched sample analysis of these firms based on four digit SIC code, size and date. In robustness, the authors run a more in-depth propensity score matched sample analysis.

The authors document that market values of Silicon Valley firms with accounting losses are affected less by negative earnings than other firms with accounting losses in the United States outside of the Silicon Valley region, noting the “lose big, win bigger” sentiment of Silicon Valley. Additionally, the authors document that accounting conservatism does play a role in influencing valuations of companies with accounting losses both in Silicon Valley and the rest of the United States, marginally more for Silicon Valley firms.

This study would be of interest to fund managers who need to consider smaller firms for inclusion in their portfolios. A lot of small firms have experienced losses ever since going public, especially Silicon Valley start-up firms.

Recently, multiple examples of large firms acquiring real estate have polarized investors. Who are the firms investing in real estate and what are their characteristics? How does this investment in owning commercial real estate relate to cash holding policies? Is owning commercial real estate associated with better credit ratings? This study questions commonly held beliefs in finance that firms prefer to lease their real estate rather than own it and examines what are the differences in outcomes between the choices.

The authors identify three testable hypotheses based on the research questions and prior literature. The authors use univariate and multivariate analyses to test these hypotheses along with thorough robustness and addressing of endogeneity issues to confirm that our results hold in a variety of settings. The authors employ new proxies of real estate to the literature from Bloomberg and firm level data from Compustat.

The authors show that more firms within the S&P 500 choose to own commercial real estate. The authors also find many significant differences in corporate characteristics between firms who own real estate and those who do not, such that firms with real estate ownership have significantly: higher growth opportunities, higher R&D expenses, higher working capital levels, lower capital expenditures, higher leverage and higher cash flow. Firms with corporate real estate (CRE) ownership hold less cash. Contingent on real estate ownership, firms have higher cash holdings as their real estate holdings increase. Last, firms with commercial real estate ownership have higher credit ratings.

One of the main contributions of this study is in the use of a new specific proxy using data on corporate land, buildings and construction in progress, which to the best of our knowledge has not been done in the past. Other studies focus on aggregate property, plant and equipment data which blurs the CRE ownership picture. Additionally, the authors provide an underexplored variable of CRE ownership to its impacts of cash holdings and credit ratings, which had yet to be uncovered.

Rooted in adult fear, adult authority aims to protect and control youth (Gannon, 2008; Valentine, 1997). Continuously negotiating for freedom, youth search for adult-free public spaces and are therefore extremely attracted to social networking sites (boyd, 2007, 2014). However, a significant portion of youth now includes adult authorities within their Facebook networks (Madden et al., 2013). Thus, this study explores how youth navigate familial- and educational-adult authorities across social networking sites in relation to their local peer culture.

Through semi-structured interviews, including youth-centered and participant-driven social media tours, 82 youth from the Northeast region of the United States of America (9–17 years of age; 43 females and 39 males) shared their lived experiences and perspectives about social media during the summer of 2013.

In their everyday lives, youth are subjected to the normative expectations emerging from peer culture, school, and family life. Within these different and at times conflicting normative schemas, youth’s social media use is subject to adult authority. In response, youth develop intricate ways to navigate adult authority across social networking sites.

Adult fear is powerful, but fragile to youth’s interpretation; networked publics are now regulated and youth’s ability to navigate then is based on their social location; and youth’s social media use must be contextualized to be holistically understood.

A process of continuous innovation isn't just “nice to have,” it's “need to have.”

The Internet has become an obsession that's affecting the global economy, businesses of all sizes, and lifestyles. Consider these statistics.

Escaping from the woodwork these days are all manner of critters, from exotic to mundane. There are more of them than ever before, they're emerging faster and faster, and they're all after your best customers.

The purpose of this paper is to explore older people’s intention to relocate from their primary homes. The study also seeks to understand the policy implications that such intentions may have.

This study employs a survey-based design via computer-aided telephone interviews (CATI). The CATI survey was employed to gather information on the behaviour of older people and whether differences exist by gender, age, health immigration status and financial knowledge. The survey-based design is triangulated with the literature on this topic area and policy issues.

The findings of the study suggest amongst others, that older South Australians overwhelmingly and significantly do not intend to move from their primary home and are content to age in place. This is particularly true as people reach the older stages of life.

The study enhances the understanding of the decision-making environment that older people are exposed to in contemplating relocation from the primary home. More specifically, it shows that factors stated in the literature that deemed to be of importance in the decision to relocate, has no significance in this study and that ageing in place should be used as a policy base.

The purpose of this paper is to analyse the inconsistent use of terminology in international collaboration, and develop a clearer typology that reflects the commercial and practical realities of modern business.

A critique of existing typologies provided the basis for the development of a more practical framework. The new typology was populated with the most prominent collaborative forms to emerge from the analysis of academic research and commercial practice.

“Structure” and “purpose” emerged as the most logical determinants in differentiating and classifying collaborative forms. Actual commercial ventures mapped on to the new typology demonstrate a good fit between these two considerations and the collaboration strategies adopted.

This work contributes much needed clarity in differentiating and classifying forms of collaboration. The key determinants of structure and purpose reflect more accurately the commercial and practical realities of modern business, and offer practitioners and researchers a logical means of mapping and analyzing collaboration strategy.