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1 – 10 of 68John S. Pearlstein and Robert D. Hamilton
The theory presented suggests that underwriters are both advisors and independent agents in the issuerʼs attempt to send “signals” of quality to investors by making pre-IPO…
Abstract
The theory presented suggests that underwriters are both advisors and independent agents in the issuerʼs attempt to send “signals” of quality to investors by making pre-IPO organizational changes. These pre-IPO gambits are intended to increase IPO proceeds, and preemptively address potential investor concerns that would deter them from subscribing. These organizational changes initially can financially benefit founders, early investors and underwriters. But they can also have a longterm impact that some issuers, especially founders, would prefer to avoid. Utilizing signaling and resource-based power, we find that underwriter power is significantly associated with making pre-IPO gambits and lower levels of underpricing.
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Tommie L. Ellis, Robert A. Nicholson, Antoinette Y. Briggs, Scott A. Hunter, James E. Harbison, Paul S. Saladna, Michael W. Garris, Robert K. Ohnemus, John E. O’Connor and Steven B. Reynolds
Rising operational costs and software sustainment concerns have driven the Air Force to move to newer technology to ensure that the Air Force Standard Base Supply System (SBSS…
Abstract
Purpose
Rising operational costs and software sustainment concerns have driven the Air Force to move to newer technology to ensure that the Air Force Standard Base Supply System (SBSS) can continue to provide affordable and sustainable mission support in the years to come. This paper aims to summarize the successful software modernization effort the Air Force undertook to achieve that objective.
Design/methodology/approach
The paper describes the preliminary system updates that were required to isolate the SBSS software from all internal and external system and user interfaces in preparation for the subsequent successful code roll effort. Once the legacy SBSS component was fully isolated, the SBSS software modernization objective was achieved via a “code roll” conversion of the SBSS software from legacy COBOL to Java code, and movement of the integrated logistics system-supply application from a proprietary information technology (IT) platform to an open IT operating environment.
Findings
The SBSS system modernization yielded immediate and significant IT operational cost reductions and provided an important foundation for achieving Air Force logistics system consolidation and cloud computing objectives going forward.
Originality/value
The SBSS modernization experience should be useful in assisting similar data system software modernization efforts.
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