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Article
Publication date: 28 May 2024

Guang-Zhi Zeng, Zheng-Wei Chen, Yi-Qing Ni and En-Ze Rui

Physics-informed neural networks (PINNs) have become a new tendency in flow simulation, because of their self-advantage of integrating both physical and monitored information of…

Abstract

Purpose

Physics-informed neural networks (PINNs) have become a new tendency in flow simulation, because of their self-advantage of integrating both physical and monitored information of fields in solving the Navier–Stokes equation and its variants. In view of the strengths of PINN, this study aims to investigate the impact of spatially embedded data distribution on the flow field results around the train in the crosswind environment reconstructed by PINN.

Design/methodology/approach

PINN can integrate data residuals with physical residuals into the loss function to train its parameters, allowing it to approximate the solution of the governing equations. In addition, with the aid of labelled training data, PINN can also incorporate the real site information of the flow field in model training. In light of this, the PINN model is adopted to reconstruct a two-dimensional time-averaged flow field around a train under crosswinds in the spatial domain with the aid of sparse flow field data, and the prediction results are compared with the reference results obtained from numerical modelling.

Findings

The prediction results from PINN results demonstrated a low discrepancy with those obtained from numerical simulations. The results of this study indicate that a threshold of the spatial embedded data density exists, in both the near wall and far wall areas on the train’s leeward side, as well as the near train surface area. In other words, a negative effect on the PINN reconstruction accuracy will emerge if the spatial embedded data density exceeds or slips below the threshold. Also, the optimum arrangement of the spatial embedded data in reconstructing the flow field of the train in crosswinds is obtained in this work.

Originality/value

In this work, a strategy of reconstructing the time-averaged flow field of the train under crosswind conditions is proposed based on the physics-informed data-driven method, which enhances the scope of neural network applications. In addition, for the flow field reconstruction, the effect of spatial embedded data arrangement in PINN is compared to improve its accuracy.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0961-5539

Keywords

Article
Publication date: 28 May 2024

Siti Nurazira Mohd Daud, Nur Syazwina Ghazali and Nur Hafizah Mohammad Ismail

This paper aims to examine the relationships among environmental, social and governance (ESG) practices, innovation and economic growth in five Asian countries from 1990 to 2020.

Abstract

Purpose

This paper aims to examine the relationships among environmental, social and governance (ESG) practices, innovation and economic growth in five Asian countries from 1990 to 2020.

Design/methodology/approach

The study innovatively constructed the ESG index at the country level by using frequency statistics on text mining and factor analysis for each country over time. In addition, this study used the autoregressive distributed lag method to establish a long-term relationship.

Findings

The authors discovered that ESG practices among corporate entities significantly impact economic growth in Malaysia, the Philippines and Singapore. Specifically, the environmental component positively affects the growth of Malaysia, Thailand and the Philippines, while the governance components of ESG contribute to Thailand’s economic growth. The authors also discovered that innovation improves countries’ economic growth, thus offering policy insights into promoting ESG practices and stimulating the ecosystem for innovation.

Originality/value

The paper fills the gap left in previous inconclusive findings on the association between ESG practices and country growth.

Details

Studies in Economics and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1086-7376

Keywords

Open Access
Article
Publication date: 23 May 2024

Peterson K. Ozili

This study aims to investigate the effect of CBDC issuance on economic growth rate and inflation rate in Nigeria. We are interested in determining whether the rate of economic…

Abstract

Purpose

This study aims to investigate the effect of CBDC issuance on economic growth rate and inflation rate in Nigeria. We are interested in determining whether the rate of economic growth and inflation changed significantly after the issuance of a non-interest bearing CBDC in Nigeria.

Design/methodology/approach

Two-stage least squares regression and granger causality test were used to analyze the data.

Findings

Inflation significantly increased in the CBDC period, implying that CBDC issuance did not decrease the rate of inflation in Nigeria. Economic growth rate significantly increased in the CBDC period, implying that CBDC issuance improved economic growth in Nigeria. The financial sector, agricultural sector and manufacturing sector witnessed a much stronger contribution to gross domestic product (GDP) after CBDC issuance. There is one-way granger causality between CBDC issuance and monthly inflation, implying that CBDC issuance causes a significant change in monthly inflation in Nigeria. The implication of the result is that the non-interest bearing eNaira CBDC is not able to solve the twin economic problem of “controlling inflation which stifles economic growth” and “stimulating economic growth which leads to more inflation.” Policy makers should therefore use the eNaira CBDC alongside other monetary policy tools at their disposal to control inflation while stimulating growth in the economy.

Originality/value

There are no empirical studies on the effect of CBDC issuance on economic growth or inflation using real-world data. We add to the monetary economics literature by analyzing the effect of CBDC issuance on economic growth and inflation.

Details

Journal of Money and Business, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2634-2596

Keywords

Open Access
Article
Publication date: 24 May 2024

Bingzi Jin and Xiaojie Xu

Agriculture commodity price forecasts have long been important for a variety of market players. The study we conducted aims to address this difficulty by examining the weekly…

Abstract

Purpose

Agriculture commodity price forecasts have long been important for a variety of market players. The study we conducted aims to address this difficulty by examining the weekly wholesale price index of green grams in the Chinese market. The index covers a ten-year period, from January 1, 2010, to January 3, 2020, and has significant economic implications.

Design/methodology/approach

In order to address the nonlinear patterns present in the price time series, we investigate the nonlinear auto-regressive neural network as the forecast model. This modeling technique is able to combine a variety of basic nonlinear functions to approximate more complex nonlinear characteristics. Specifically, we examine prediction performance that corresponds to several configurations across data splitting ratios, hidden neuron and delay counts, and model estimation approaches.

Findings

Our model turns out to be rather simple and yields forecasts with good stability and accuracy. Relative root mean square errors throughout training, validation and testing are specifically 4.34, 4.71 and 3.98%, respectively. The results of benchmark research show that the neural network produces statistically considerably better performance when compared to other machine learning models and classic time-series econometric methods.

Originality/value

Utilizing our findings as independent technical price forecasts would be one use. Alternatively, policy research and fresh insights into price patterns might be achieved by combining them with other (basic) prediction outputs.

Details

Asian Journal of Economics and Banking, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2615-9821

Keywords

Article
Publication date: 21 May 2024

Trung Duc Nguyen, Lanh Kim Trieu and Anh Hoang Le

This paper aims to propose a dynamic stochastic general equilibrium (DSGE) model for the State Bank of Vietnam (SBV) to assess the response from the household sector to monetary…

Abstract

Purpose

This paper aims to propose a dynamic stochastic general equilibrium (DSGE) model for the State Bank of Vietnam (SBV) to assess the response from the household sector to monetary policy shocks through the consumption function. Moreover, the transmission from monetary policy to household consumption and income distribution is experimented with through the vector autoregression (VAR) model.

Design/methodology/approach

In this study, the authors used the maximum likelihood estimation to estimate the DSGE and VAR models with the sample from 1996Q1 to the end of 2021Q4 (104 observations).

Findings

The DSGE model’s results show that the response of the household sector is as expected in the theory: a monetary policy shock occurs that increases the policy interest rate by 0.29%, leading to a decrease in consumer spending of about 0.041%, the shock fades after one year. Estimates from the VAR model give similar results: a monetary policy shock narrows income inequality after about 2–3 quarters and this process tends to slow down in the long run.

Research limitations/implications

Based on the research results, the authors propose policy implications for the SBV to achieve the goal of price stability, and stabilizing the macro-economic environment in Vietnam.

Originality/value

The findings of the study have theoretical contributions and empirical scientific evidence showing the effectiveness of the implementation of the SBV’s monetary policy in the context of macro-instability, namely: flexibility, caution and coordination of different measures promptly.

Details

Journal of Financial Economic Policy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-6385

Keywords

Article
Publication date: 23 May 2024

Thi Hong Minh Thai

The agriculture sector is crucial for all economies, especially the developing ones. However, agricultural production is influenced by government intervention, which outshines the…

Abstract

Purpose

The agriculture sector is crucial for all economies, especially the developing ones. However, agricultural production is influenced by government intervention, which outshines the significant role of good governance indicators in agricultural productivity. In addition to this, the major climate changes also posed various challenges and led to water shortages and yield losses. Thus affecting agricultural production. In this paper, we address the issue by determining the association between state governance and agricultural productivity in N-11 countries.

Design/methodology/approach

Panel data have been collected from 2000 to 2021 through the Governance Indicator, World Development Indicator and World Bank databases. For data analysis, the researcher has utilized the autoregressive distributed lag (ARDL) estimations.

Findings

Through ARDL estimations, it is suggested that corruption (CC), employment in agriculture (EAG), political stability and violence absence (PS), rule of law (RL), regulatory equality (RQ) and water quality (WQ) significantly impact agricultural productivity (AGP) in the long run. In the short run, the impact of RL on AGP has been significant.

Research limitations/implications

This study follows the method of data collection from secondary sources, which hinders the effectiveness of this study as, on the basis of the respective data, the potential of the researcher to get specific answers to research questions has been affected. Also, this study examines the context of N-11 countries from 2000 to 2021, which exerts a geographical limitation. While exploring the association between state governance and agricultural productivity, this study neglects the internal aspects of implementing state policies in firms.

Originality/value

On practical grounds, the significant association demonstrated by this study encourages agricultural firms to keenly consider state policies to gain sustainable agricultural development. Moreover, this study encourages agricultural firms to efficiently follow governance policies for efficient productivity. The outcomes of the study have shown that agricultural employment and governance infrastructure can efficiently enhance agricultural productivity. Besides, as per the results, water quality also positively impacts agricultural productivity; thus, relevant steps can be taken by the agricultural sector to improve the quality of water.

Details

Journal of Agribusiness in Developing and Emerging Economies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-0839

Keywords

Article
Publication date: 22 May 2024

Gaffar Hafiz Sagala and Dóra Őri

The dynamic of the business environment has escalated the competition and uncertainty, which is challenging business survivability, particularly for small and medium enterprises…

Abstract

Purpose

The dynamic of the business environment has escalated the competition and uncertainty, which is challenging business survivability, particularly for small and medium enterprises (SMEs). SMEs attract researchers due to their unique characteristics that have limited resources but great flexibility and adaptability. Furthermore, Collaborative Networks (CNs) have been proposed by business scholars as a critical strategy to gain resilience and antifragility. However, the concept of antifragility and its relation with CNs is still vague in the SME sector. Therefore, this study aims to develop a complete understanding regarding: (1) the emerging knowledge that is critical in explaining antifragility in the business sector based on co-citation and thematic analysis; (2) the relation between resilience and antifragility in emerging business research; (3) the relation between CNs and antifragility in emerging business research and (4) a framework of antifragility in the SME context.

Design/methodology/approach

Bibliographic Analysis and Systematic Literature Review are performed to reach the research objectives. We use co-citation and thematic analysis to identify the map of emerging knowledge and the related concepts, which are the fundamentals of antifragility. Furthermore, we use a systematic literature review to determine the relation of antifragility, resilience and CNs in the SME context.

Findings

Antifragility is a higher level of survivability compared to resilience. Antifragile SMEs could gain an advantage from the uncertain business environment. However, both in resilience and antifragility, SMEs should become active learners. Furthermore, CNs are proposed as the gateway for SMEs to manage their resource limitations. The conceptual framework of Antifragile SMEs is presented as the theoretical contribution of this manuscript.

Originality/value

This article explains the knowledge structure of antifragility in the business sector, particularly among SMEs. Based on bibliometric data, we describe critical characteristics or mental states entrepreneurs should have when facing uncertainty. Furthermore, we propose a conceptual framework for antifragile SMEs where active learning and positive psychology are the pillars, and CNs are critical ingredients of antifragility in SMEs.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

Keywords

Article
Publication date: 27 May 2024

Bahati Sanga and Meshach Aziakpono

Lack of access to finance is a major constraint to the growth of small and medium-sized enterprises (SMEs) and entrepreneurship in developing countries. The recent proliferation…

Abstract

Purpose

Lack of access to finance is a major constraint to the growth of small and medium-sized enterprises (SMEs) and entrepreneurship in developing countries. The recent proliferation of mobile phone services, access to the internet and emerging technologies has led to a surge in the use of FinTech in Africa and is transforming the financial sector. This paper aims to examine whether FinTech developments heterogeneously contribute to the growth of digital finance for SMEs and entrepreneurship in 47 African countries from 2013 to 2020.

Design/methodology/approach

The paper uses a novel method of moments quantile regression, which deals with heterogeneity and endogeneity in diverse conditions for asymmetric and nonlinear models.

Findings

The empirical results reveal that the rise of FinTech companies offering services in Africa heterogeneously increases digital finance for SMEs and entrepreneurship in their different stages of growth. FinTech developments have a strong and positive impact in countries with higher levels of digital finance than those with lower levels. FinTech developments and digital finance positively and significantly influence entrepreneurship in Africa, particularly in the nascent and transitional development stages of entrepreneurship. Institutional quality has a considerable positive moderating effect when used as a control rather than an interaction variable.

Practical implications

The results suggest the need to promote FinTech developments in Africa: to provide a wide range of alternative digital finance schemes to SMEs and to promote entrepreneurship, especially in countries where entrepreneurship is in the nascent and transitional development stages. The results also underscore the need to promote FinTech development through supportive regulations and institutional quality to reduce risks related to FinTech and digital financing schemes.

Originality/value

To the best of the authors’ knowledge, this paper is one of the first attempts to account for the often overlooked heterogeneity effects and show that the influence of FinTech developments is not homogenous across the varying development stages of digital finance and entrepreneurship.

Details

Journal of Entrepreneurship in Emerging Economies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2053-4604

Keywords

Article
Publication date: 28 May 2024

Karel Dvorak, Lucie Zarybnicka, Radek Ševčík, Michal Vopalensky and Irena Adamkova

The purpose of this paper is to clarify the relationship between the use of different polymer matrices for the preparation of composite materials, namely, polyethylene…

Abstract

Purpose

The purpose of this paper is to clarify the relationship between the use of different polymer matrices for the preparation of composite materials, namely, polyethylene terephthalate-glycol (PET-G) and polyamide (PA), using Composite Fiber Co-Extrusion technology with the application of two types of carbon fibers, short and continuous. The aim of the study is also to extend the knowledge of the production of composite materials with a defined structure from the point of view of their influence on the microstructure and their physical-mechanical properties.

Design/methodology/approach

As part of the experiment, four types of samples were prepared, namely, two types of samples with PA polymer matrix and two types with PET-G polymer matrix. All types contained short carbon fibers and always one set from each polymer matrix in addition to continuous carbon fibers. All types were prepared using the same 3D printing parameters to avoid any further influence. The samples were then tested for microstructure using microCT, mechanical properties using a tensile test and dilatation characteristics from the point of view of aerospace applications. Finally, the raw materials themselves were tested.

Findings

The paper provides insight into the influence of polymer matrix types on the physico-mechanical properties of 3D printed composites. The analysis confirmed that the physico-mechanical results varied with respect to the interface between the polymer matrix and the carbon fiber. The implications of the conclusions can be extended to the development of products in the aerospace and automotive sectors.

Originality/value

This study provides information for composite applications in the aerospace industry, focusing on evaluating dilatation characteristics within very low temperatures (−60 °C) when using carbon fibers (continuous carbon fibers, short carbon fibers and a combination of both) in two types of thermoplastic matrices. This perspective on materials characterisation for aerospace applications is a very important and unpublished approach within the 3D printing of composites. These characteristics are important parameters in the design of prototypes and functional samples with regard to the resulting behaviour in real conditions.

Details

Rapid Prototyping Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-2546

Keywords

Article
Publication date: 24 May 2024

Hamidreza Najafi, Ahmad Golrokh Sani and Mohammad Amin Sobati

In this study, a different approach is introduced to generate the kinetic sub-model for the modeling of solid-state pyrolysis reactions based on the thermogravimetric (TG…

Abstract

Purpose

In this study, a different approach is introduced to generate the kinetic sub-model for the modeling of solid-state pyrolysis reactions based on the thermogravimetric (TG) experimental data over a specified range of heating rates. Gene Expression Programming (GEP) is used to produce a correlation for the single-step global reaction rate as a function of determining kinetic variables, namely conversion, temperature, and heating rate.

Design/methodology/approach

For a case study on the coal pyrolysis, a coefficient of determination (R2) of 0.99 was obtained using the generated model according to the experimental benchmark data. Comparison of the model results with the experimental data proves the applicability, reliability, and convenience of GEP as a powerful tool for modeling purposes in the solid-state pyrolysis reactions.

Findings

The resulting kinetic sub-model takes advantage of particular characteristics, to be highly efficient, simple, accurate, and computationally attractive, which facilitates the CFD simulation of real pyrolizers under isothermal and non-isothermal conditions.

Originality/value

It should be emphasized that the above-mentioned manuscript is not under evaluation in any journals and submitted exclusively for consideration for possible publication in this journal. The generated kinetic model is in the final form of an algebraic correlation which, in comparison to the conventional kinetic models, suggests several advantages: to be relatively simpler, more accurate, and numerically efficient. These characteristics make the proposed model computationally attractive when used as a sub-model in CFD applications to simulate real pyrolizers under complex heating conditions.

Details

Engineering Computations, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0264-4401

Keywords

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