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The purpose of this paper is to analyze the credit channel effects on investment behavior for the US and the Euro area.

This paper uses the dynamic stochastic general equilibrium model and calibrates a version of the Carlstrom and Fuerst’s (1997) agency cost model of business cycles with time-varying uncertainty in the technology shocks that affect capital production. To highlight the differences between the US and European financial sectors, the paper focuses on two key components of the lending channel: the risk premium associated with bank loans and the bankruptcy rates.

This paper shows that the effects of minor differences in the credit market translate into large, persistent and asymmetric fluctuations in real and financial variables and depend on the type of shocks. The results imply that the Euro areas supply elasticities for capital are less elastic than that of the USA following a technology shock. Finally, the authors find that the adverse impact of uncertainty shocks is heterogeneous across countries and amplified by the steady-state bankruptcy rate and risk premium.

This paper quantifies the effects of uncertainty shocks when there is a credit channel due to asymmetric information between lenders and borrowers for the Euro area countries, and then compares the results to that of the USA. This paper shows that financial accelerator mechanism could potentially play a significant role in business cycles in the Euro area. This result directly lends one to conclude the following: the credit channel that affects the financial sector does indeed matter for macroeconomic behavior, and that policy makers should be attentive in smoothing out uncertainties if the economic policies are to lower the business and financial cycle volatilities.

The basis of this study is Kelley’s (1992) two-dimensional model, which measures five follower types. Previous investigations did not support the validity of Kelley’s model. Although the model is utilized in research, the validity and reliability of the Kelley Followership Questionnaire (KFQ) is still in question. In this study, the KFQ validity was tested after revision of the instrument. Factor analysis revealed a three-factor model disputing the theorized two-factor model. Factors of the KFQ-R convergent validity were supported by significant correlations with critical thinking disposition and work engagement scales. This research project is intended to promote the study of the followership construct.

With the accelerated technological advancement, innovation has become a critical factor, which affects the core competitiveness of a company. However, studies about the relationship between internal stock option mechanisms and innovation productivity remain limited. Therefore, this paper aims to examine the impact of stock options and their elements design on innovation output from an internal mechanism perspective.

Using a sample of 302 stock option incentive plans announced and implemented between 2006 and 2016, this study uses the propensity score matching and difference-in-difference model to find out whether the implementation of stock options improves the innovation outputs of enterprises.

Based on the statistical analysis, it is concluded that: stock options can stimulate corporate innovation; a stock option may drive innovation outputs through two ways, performance-based incentives and risk-taking incentives, with the latter one playing a more dominant role and the risk-taking incentives of stock options, could be optimised when the non-executives granting proportion is larger, the granting range is limited, the incentive period is longer, the exercisable proportion is increasing, the price-to-strike ratio is lower and relatively loose performance assessment criteria are applied.

The conclusion reached in the study may provide valuable information to listed firms in designing and implementing the stock option plans.

The purpose of this paper is to identify the impact of traditionally unmonitored energy sources and sinks on assessment of the as-built thermal performance of occupied homes. The analysis aims to demonstrate the potential scale of uncertainties introduced in a heat balance estimation of the heat transfer coefficient (HTC) when using in-use monitored data.

Energy flows for two UK homes – one a 1930s dwelling with high heat loss, the second a higher-performing 2014-built home – are predicted using the UK Government’s standard assessment procedure (SAP) and visualised using Sankey diagrams. Selected modelled energy flows are used as inputs in a quasi-steady state heat balance to calculate in-use HTCs as if from measured data sets gathered in occupied homes. The estimated in-use HTCs are compared against SAP-calculated values to illustrate the impact of including or omitting various heat sources and sinks.

The results demonstrate that for dwellings with low heat loss, the increased proportion of heating demand met by unmetered internal and solar gains informs a greater sensitivity of a heat balance estimation of the HTC to their omission. While simple quasi-steady state heat balance methods may be appropriate for dwellings with very high heat loss, alternative approaches are likely to be required for those with lower heat loss.

A need to understand the impacts of unmetered heat flows on the accuracy with which a building’s thermal performance may be inferred from in-use monitored data is identified: this paper illustrates the scale of these impacts for two homes at opposite ends of the energy performance scale.

This paper examines the relationship between transport connectivity and regional economic development in China. It develops measurements appropriate for transport connectivity based on a set of evaluation models. This model is used to analyze the logistic connectivity of China’s 31 provinces by focusing on 11 variables, including some new factors (Density of road network, Density of railway network, Number of Internet Users) not used in previous studies, over the 13-year period from 2002 to 2014. Using panel data regression analysis, the empirical results show a statistically significant and positive impact of transport connectivity (factors like Density of road network, Density of railway network and Number of Internet Users) on economic development in China. In particular, the Number of internet users is a key factor reflecting information connectivity in all the variables. Comparative analysis regarding economic development is conducted to benchmark between coastal provinces and interior provinces. Like most previous research, this study yields the same finding of higher impact of transport connectivity on economic development in eastern provinces than in western provinces. This study suggests that decentralized decision-making will be significantly more efficient for analyzing regional infrastructure development. It also shows that the influence of transport connectivity on economic development is dependent on a certain developmental stage. This suggests that an economic region should adopt different development strategies for transport connectivity during different stages of development.

The purpose of the current study was to assess the impact of information technology on strategic flexibility for small- and medium-sized enterprises (SMEs). Results of the study show that under conditions of low environmental dynamism, IT capabilities are associated with greater reactive strategic flexibility. Specifically, IT capabilities enabling the management of internal activities was significant. Under conditions of high environmental dynamism, IT capabilities are associated with greater proactive strategic flexibility. Specifically, IT capabilities enabling the management of competitor information was significant. Managerial as well as future research implications are discussed.

The goal of this paper is to give a comprehensive and short review on how to compute the first- and second-order topological derivatives and potentially higher-order topological derivatives for partial differential equation (PDE) constrained shape functionals.

The authors employ the adjoint and averaged adjoint variable within the Lagrangian framework and compare three different adjoint-based methods to compute higher-order topological derivatives. To illustrate the methodology proposed in this paper, the authors then apply the methods to a linear elasticity model.

The authors compute the first- and second-order topological derivatives of the linear elasticity model for various shape functionals in dimension two and three using Amstutz' method, the averaged adjoint method and Delfour's method.

In contrast to other contributions regarding this subject, the authors not only compute the first- and second-order topological derivatives, but additionally give some insight on various methods and compare their applicability and efficiency with respect to the underlying problem formulation.

In this study we confirm the often assumed but largely untested belief that entrepreneurs think and behave differently than others. We examine a group of more than 700 nascent entrepreneurs and 400 nonentrepreneurs. We determine the entrepreneurs’ cognitive style propensity for problem solving (Innovator versus Adaptor); we compare their expectations; and, we examine the outcomes (performance and start-up) of their ventures. We find that nascent entrepreneurs are more likely to be overly optimistic Innovators, most people are Adaptors, and oneʼs cognitive style can indeed play a role in the initial development and outcome for the venture, but not always as expected.

This paper aims to present the mathematical foundation of so-called advance algorithms, developed to compensate for defects during acceleration and deacceleration of the print head in filament-based melt extrusion additive processes. It then investigates the validity of the mathematical foundation, its performance on a low-cost system and the effect of changing layer height on the algorithm’s associated process parameter.

This study starts with a compilation and review of literature associated with advance algorithms, then elaborates on its mathematical foundation and methods of implementation. Then an experiment displaying the performance of the algorithm implemented in Marlin machine firmware, Linear Advance 1.0, is performed using three different layer heights. The results are then compared with simulations of the system using Simulink.

Findings suggests that advance algorithms following the presented approach is capable of eliminating defects because of acceleration and deacceleration of the print head. The results indicate a layer height dependency on the associated process parameter, requiring higher compensation values for lower layer heights. It also shows higher compensation values for acceleration than deacceleration. Results from the simulated mathematical model correspond well with the experimental results but predict some rapid variations in flow rate that is not reflected in the experimental results.

As there are large variations in printer design and materials, deviation between different setups must be expected.

To the best of authors’ knowledge, this study is the first to describe and investigate advance algorithms in academic literature.

Research suggests there are at least three challenges to Black male interest and success in STEM careers: increasing access to STEM resources and curriculum, increasing Black and male inclusiveness in STEM initiatives, and increasing cultural and technical competency in STEM fields. African American schools typically do not have equitable STEM resources or instruction. In addition, there is limited research on supporting Black males' success in STEM in the culturally responsive computing (CRC) literature. Most STEM initiatives prioritize increasing the number of girls in STEM fields. STEM field employers are not active recruiters of Black male hires and have little experience with diversity and cultural inclusiveness. Research also suggests that Black students may not be interested working in White corporate America that undervalues their unique cultural perspectives and are more concerned with schooling that improves their communities. This chapter utilized CRC as a lens to examine the complexity of engaging Black males in STEM. As a result, the authors suggest adopting an equity ethic to help teachers help Black males connect themselves and their communities to STEM technology by utilizing smartphones and smartphone technology to engage Black males who may not have access to computers. We end with an example of CRC called barbershop computing, which combines computing, engineering, and innovation as a method to attract and retain Black males in STEM classes and help them persist in STEM careers.