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on Project, Program and Portfolio Management |
| By: | Quentin Plantec (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique, Institut National de la Propriété Industrielle (INPI)); Benjamin Cabanes (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique); Pascal Le Masson (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique); Benoit Weil (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | There is abundant literature on the consequences of academic engagement with the industry, on overall scientists' commercialization and scientific performances. Nevertheless, the literature remains silent on how those performances are contingent on the research orientation's choice at the project level. This paper aims to fill this gap by exploring different research orientations in the context of university-industry collaborative Ph.D., a topic of interest as private companies are becoming more involved in Ph.D. training. To do so, we relied on a unique dataset comprising of 635 Collaborative Ph.D. projects through the CIFRE program in France. We classified the projects' ex-ante research directions: market-pull-oriented (MPO), research-push-oriented (RPO), and simultaneous-discovery-invention-oriented (SDI), and we observed their ex-post performances. First, as expected, an orientation towards industry needs conduct to higher commercialization performances. However, counter-intuitively, those projects are also prone to have similar scientific performances than those oriented towards scientific discoveries. Second, while SDI projects were considered over-performing other research orientations, they led to more significant scientific performances than traditional orientations but generated as many patents as MPO projects. Finally, we highlight that initial research orientation is a crucial determinant variable of scientific and commercialization performances, and our paper opens rooms for further research to the literature on academic engagement, university-industry collaborations, and Collaborative Ph.D. |
| Keywords: | Academic engagement,Doctoral education,Ph.D.,University-Industry collaborations |
| Date: | 2021–07–29 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03190142&r=all |
| By: | Mohammad Abbas Rezaei |
| Abstract: | General partners (GP) are sometimes paid on a deal-by-deal basis and other times on a whole-portfolio basis. When is one method of payment better than the other? I show that when assets (projects or firms) are highly correlated or when GPs have low reputation, whole-portfolio contracting is superior to deal-by-deal contracting. In this case, by bundling payouts together, whole-portfolio contracting enhances incentives for GPs to exert effort. Therefore, it is better suited to alleviate the moral hazard problem which is stronger than the adverse selection problem in the case of high correlation of assets or low reputation of GPs. In contrast, for low correlation of assets or high reputation of GPs, information asymmetry concerns dominate and deal-by-deal contracts become optimal, as they can efficiently weed out bad projects one by one. These results shed light on recent empirical findings on the relationship between investors and venture capitalists. |
| Date: | 2021–04 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2104.07049&r=all |
| By: | Taimyra Batz Li\~neiro; Felix M\"usgens |
| Abstract: | Auctions have become the primary instrument for promoting renewable energy around the world. However, the data published on such auctions are typically limited to aggregated information (e.g., total awarded capacity, average payments). These data constraints hinder the evaluation of realisation rates and other relevant auction dynamics. In this study, we present an algorithm to overcome these data limitations in German renewable energy auction programme by combining publicly available information from four different databases. We apply it to the German solar auction programme and evaluate auctions using quantitative methods. We calculate realisation rates and - using correlation and regression analysis - explore the impact of PV module prices, competition, and project and developer characteristics on project realisation and bid values. Our results confirm that the German auctions were effective. We also found that project realisation took, on average, 1.5 years (with 28% of projects finished late and incurring a financial penalty), nearly half of projects changed location before completion (again, incurring a financial penalty) and small and inexperienced developers could successfully participate in auctions. |
| Date: | 2021–04 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2104.07536&r=all |