Conveying quality and value in emerging industries: Star scientists and the role of signals in biotechnology

This paper addresses the role that scientific status plays in initial public offerings of technology focused firms. The paper builds on the literature of the sociology of science as well as the work of Spence (1974) and Podolny (1993) and argues that the presence of a Nobel laureate affiliated with a firm making an IPO provides a signal of firm quality to potential investors. Moreover, and building on the work of Podolny and Scott Morton (1999) and Stuart et al. (1999) we hypothesize that the importance of status diminishes as other measures of firm quality become available. We test our hypothesis for two periods of initial public offerings in biotechnology. We document that there is a clear difference in “maturity” of the firms across the two windows on a number of metrics. Consistent with our hypothesis that Nobel laureates play an important role as a non-financial signal of firm quality, we find that first-window firms with a Nobel laureate affiliate realize greater IPO proceeds in the amount of $24 million. In the second window the amount of money raised is not significantly different between Nobel and non-Nobel firms. This finding is consistent with the signaling literature that argues that the importance of a signal is inversely related to the availability of cogent information on firm quality. Consistent with this view, we also find a change between the two windows in the importance of other non-financial metrics used to convey value. Our research is one of the first to examine the dynamic nature of signals. Because we are unable to distinguish the extent to which the reduction in uncertainty at the firm level is correlated with the reduction of uncertainty at the industry level, the question remains as to the extent to which the diminished importance of signals in our second period is due to a change in market uncertainty versus a change in firm uncertainty.     

A validated search assessment tool: assessing practice-based learning and improvement in a residency program

Objective:

The objective of this study was to validate an assessment instrument for MEDLINE search strategies at an academic medical center.

Method:

Two approaches were used to investigate if the search assessment tool could capture performance differences in search strategy construction. First, data from an evaluation of MEDLINE searches from a pediatric resident''s longitudinal assessment were investigated. Second, a cross-section of search strategies from residents in one incoming class was compared with strategies of residents graduating a year later. MEDLINE search strategies formulated by faculty who had been identified as having search expertise were used as a gold standard comparison. Participants were presented with a clinical scenario and asked to identify the search question and conduct a MEDLINE search. Two librarians rated the blinded search strategies.

Results:

Search strategy scores were significantly higher for residents who received training than the comparison group with no training. There was no significant difference in search strategy scores between senior residents who received training and faculty experts.

Conclusion:

The results provide evidence for the validity of the instrument to evaluate MEDLINE search strategies. This assessment tool can measure improvements in information-seeking skills and provide data to fulfill Accreditation Council for Graduate Medical Education competencies.

Highlights

• The University of Michigan MEDLINE Search Assessment tool can be used to assess search skills in residency education.
• Five elements were identified as critical elements in the development of an effective MEDLINE search strategy: inclusion of all search concepts, appropriate use of Medical Subject Headings, appropriate use of search limits, successful combination of all concepts, and search efficiency.

Implications

• This validated assessment tool can serve as an effective means to measure improvements in residents'' information-seeking skills and provide data to fulfill Accreditation Council for Graduate Medical Education competencies.

     

Implementing web 2.0 tools in the classroom: Four teachers’ accounts

In this paper, four teachers shared their experiences using the following free Web 2.0 tools with their students: Jing, Wix, Google Sites, and Blogger. The teachers found that students reacted positively to lessons in which these tools were used, and also noted improvements they could make when using them in the future.     

Libraries,Mobile Devices,and the Visible College

Bryan Alexander described the digital environment that we live in, giving an extensive overview of the current state of interactive devices, particularly mobile devices, which are moving us beyond the personal computer. He covered recent major developments that have transformed the world in surprising ways in a rather short period of time. The world of apps is further expanding what these devices can do, also bringing with them more challenges to individual privacy. Gaming and augmented reality are becoming deeply embedded in much of what we do. Alexander laid out four possible futures that these contemporary developments could lead to.     

Improving early childhood teacher education: Preservice teachers' beliefs about inclusion

Abstract

The purpose of this study is to describe early childhood preservice teachers’ beliefs about the inclusion of children with special needs in early childhood settings. Nineteen female undergraduate early childhood education preservice teachers participated in one of five focus groups. Students were divided into three groups based on the courses they were enrolled in or had completed: Beginner (sophomore and junior courses), Intermediate (senior courses), and Advanced (student teaching). Additionally, 6 of the 19 students participated in individual interviews. Data analysis resulted in themes related to students’ beliefs and philosophies of inclusion, as well as their thoughts concerning practice in inclusive programs. This paper describes students’ beliefs within each group and compares responses across the different groups. Implications are discussed in relation to teacher education programs and directions for future research.     

The influence of reading unit size on the development of Stroop interference in early word decoding

The purpose of the experiments was to determine the automatic use of large or small word reading units in young readers in the absence of word decoding strategies. Picture-word Stroop interference was examined from four types of conflicting labels: (a) words containing both highly predictable grapheme–phoneme correspondence (GPC) units and highly consistent rime units (henceforth, Hi-GPC + Hi-Rime); (b) words with highly predictable GPC units and less consistent rime units (Hi-GPC + Lo-Rime); (c) words with low predictability GPC units and highly consistent rime units (Low GPC + High Rime); (d) nonwords that contained both highly predictable GPC and highly consistent rime units. Naming time for pictures containing these labels was compared against that for pictures with random letter strings or no labels. In Experiment 1, Stroop interference was examined in first, second, and third grade children to determine whether there was developmental change in the presence of rime or GPC interference. In Experiment 2, Stroop interference was examined as a function of relative reading skill in first grade children. In Experiment 3, Stroop interference in adults was compared to the use of rime or GPC pronunciation strategies for nonword reading. In all experiments, Stroop interference in picture naming was longer for pictures with highly predictable GPC unit labels than less predictable GPC unit labels. However, in Experiment 3, even though adults showed interference from predictable GPC units in the Stroop task, they always preferred rime pronunciation for ambiguous nonwords in the nonword reading task. It is argued that the current experiments provide evidence for a flexible units model. The results of this study were presented at the Cognitive Development Society meeting, November 2001, Virginia Beach, VA, and the American Educational Research Association meeting, April 2004, San Diego, California.     

Associations between different forms of peer victimization and school absences: The moderating role of teacher attachment and perceived school safety

Given the significant negative impacts of peer victimization on youth development, studies have sought to understand what buffers against these consequences. To that end, the present study examined whether teacher attachment and perceptions of school safety moderated the associations between different forms of victimization and school absences over the course of an academic year among a sample of 272 high school students. Findings indicated that teacher attachment moderated the associations between relational and cyber victimization and absences, while perceived school safety moderated associations between relational victimization and absences. However, findings pertaining to cyber victimization were not as anticipated. Implications for prevention and intervention efforts in high schools are discussed.     

Evaluating effects of different forms of revision instruction in upper-primary students

Reading and Writing - This study aimed to establish (a) whether teaching students revision skills provides benefit over and above teaching strategies for setting explicit goals for the...     

Scientific teams and institutional collaborations: Evidence from U.S. universities, 1981-1999

This paper explores recent trends in the size of scientific teams and in institutional collaborations. The data derive from 2.4 million scientific papers written in 110 top U.S. research universities over the period 1981-1999. The top 110 account for a large share of published basic research conducted in the U.S. during this time.We measure team size by the number of authors on a scientific paper. Using this measure we find that team size increases by 50% over the 19-year period. We supplement team size with measures of domestic and foreign institutional collaborations, which capture the geographic dispersion of team workers. The time series evidence suggests that the trend towards more geographically dispersed scientific teams accelerates beginning with papers published at the start of the 1990s. This acceleration suggests a sharp decline in the cost of collaboration. Our hypothesis is that the decline is due to the deployment of the National Science Foundation's NSFNET and its connection to networks in Europe and Japan after 1987.Using a panel of top university departments we also find that private universities and departments whose scientists have earned prestigious awards participate in larger teams, as do departments that have larger amounts of federal funding. Placement of former graduate students is a key determinant of institutional collaborations, especially collaborations with firms and with foreign scientific institutions. Finally, the evidence suggests that scientific output and influence increase with team size and that influence rises along with institutional collaborations. Since increasing team size implies an increase in the division of labor, these results suggest that scientific productivity increases with the scientific division of labor.