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The purpose of this paper is to artificially construct a functional surface with self-propulsion flow characteristics for the directional transportation of propellant in surface tension tanks.

In this study, a method to enhance the propulsion efficiency by using functional surfaces of self-propulsion performance was proposed. Superhydrophilic wedged-groove with the superhydrophobic background was fabricated and the self-propulsion capacity was verified.

It is found that the self-propulsion capacity is related to the divergence angle of the wedged-groove in the hydrophilic area, and the velocity of the droplets on the deflector plate is the largest with the divergence angle of 4°; the temperature gradient field formed by the condensing device at the nozzle can accelerate the droplet outflow from the tank.

Realization of this idea provides an accurate control strategy for the complex flow process of propellant in plate surface tension tanks, which could enhance the efficiency of the tension tank significantly.

This study investigated the impact of corporate ownership structure on agency costs in the insurance industry.

The study sample included 23 insurance companies listed on the Amman Stock Exchange (ASE) from 2010 to 2019. Panel regression was used to account for the firm- and time-specific unobservable variables and system-GMM estimation was used to address endogeneity concerns.

The results show that managerial ownership positively (negatively) affects selling, general and administrative (SG&A) expenses (assets turnover), implying that unmonitored managers engage in activities that serve their own interests rather than those of shareholders. The largest shareholder's ownership has no impact on agency costs, implying that the ownership of the largest shareholder is irrelevant. However, as the wedge between the percentage of capital owned by the largest shareholders and managers increases, SG&A expenses (efficiency ratio) decrease (increases), indicating that the existence of large non-management shareholders reduces agency costs. After accounting for the endogeneity problem, the impact of ownership structure on agency costs measured by asset turnover remains robust.

To the best of the authors' knowledge, this study is the first to provide unique evidence and useful insights into the determinants of agency costs from a frontier market in the Middle East and North Africa (MENA), with a focus on the insurance sector. Additionally, this study uses a new measure of separation between ownership and control by calculating the wedge between managers' and large shareholders' ownership.

Although tax-motivated income shifting has been widely explored, no studies have as yet analyzed the association between ownership structure and management decisions about income shifting. The ownership structure of multinational groups is characterized by different levels of minority interests, and our aim is to establish whether income shifting is explained by the aim of expropriation of minorities, as well as taxation avoidance.

We collect data on a sample of European parent companies located in five countries and their foreign subsidiaries, and run a multivariate regression based on the Huizinga and Laeven (2008) model.

Our results support the idea of minority expropriation, finding evidence of ownership-motivated income shifting. We also find that the level of minority protection affects ownership-motivated income shifting, and that, when both are present, expropriation is statistically significant.

Although the study looks at a wide range of subsidiaries, a limitation may be that it examines only firms having parent companies in five European countries. Further research would overcome this limitation and extend the literature and take into account other income-shifting contextual variables. Our results may lead regulators to pay more attention to the protection of minority interests.

This research offers insights to companies and investors, and should help them to make better-informed decisions and evaluate the best contexts for investments.

This study enriches the literature on income shifting by revealing that it can be caused by factors other than the desire to avoid taxation. It suggests that ownership structure is crucial.

The purpose of this study is to identify factors that foster or prevent sense of belonging among frontline and middle managers in social and health-care services in Finland.

The data have been collected among social and health-care managers (n = 135; 64 per cent nursing managers) through two open-ended questions in a questionnaire concerning sense of community. The results of the open-ended questions have been analyzed using qualitative content analysis.

Among managers, six categories of factors that foster sense of belonging (open interaction, effective conversation culture, support and encouragement, common values, a shared vision of the work and its objectives and structure of leadership) and five categories of factors that prevent sense of belonging (negative work atmosphere, lack of common time, structural solutions in the organization, problems that occur in the organizational level and problems related to leadership and management) have been identified.

The resulting information can be used to develop sense of belonging among managers at all levels of organization (horizontal and vertical).

Paying attention to the quantity and quality of interaction and to structural solutions in the organization can affect the sense of belonging among frontline managers and middle managers.

Particles bed binding by selective cement activation (SCA) method is a computer-aided manufacturing (CAM) technique used to produce cementitious elements. A computer-aided design file is sliced to generate G-codes before printing. This paper aims to study the effect of key input parameters for slicer software on the final properties of printed products.

The one factor at a time (OFAT) methodology is used to investigate the impact of selected parameters on the final properties of printed specimens, and the causes for the variations in outcomes of each variable are discussed.

Finer aggregates can generate a more compact layer, resulting in a denser product with higher strength. Fluid pressure is directly determined by voxel rate (r_V); however, high pressures enable better fluid penetration control for fortified products; for extreme r_Vs, residual voids in the interfaces between successive layers and single-line primitives impair mechanical strength. It was understood that printhead movement along the orientation of the parts in the powder bed improved the mechanical properties.

The design of experiment (DOE) method assesses the influence of process parameters on various input printing variables at the same time. As the resources are limited, a fractional factorial plan is carried out on a subset of a full factorial design; hence, providing physical interpretation behind changes in each factor is difficult. OFAT aids in analyzing the effect of a change in one factor on output while all other parameters are kept constant. The results assist engineers in properly considering the influence of variable variations for future DOE designs.

This study aims to investigate the influence of economic policy uncertainty (EPU) and geopolitical risk (GPR) on corporate cash holding level and speed of adjustment (SOA) in one of the most important emerging markets in the Middle East and North Africa, Saudi Arabia. It also investigates whether Shariah-compliance as well as financial constraints affect the relationship between both EPU and GPR and corporate cash holdings.

The study employs GMM regression considering a sample of 140 nonfinancial firms drawn from the Saudi stock market over the period 2002 to 2019.

The authors find evidence in support of the precautionary motive hypothesis. Facing costly external financing induced by economic policy-related uncertainty and geopolitical tension, Saudi firms tend to accumulate cash as a buffer against negative shocks to their cash flows. The results also show that the positive impact of EPU and GPR on the level of cash holding is less pronounced in Shariah-compliant firms, whereas it is more pronounced in more financially constrained firms. Evidence also reveals that the estimated adjustment coefficients show that Saudi firms adjust more quickly toward their target cash ratio in periods of high economic instability and geopolitical risks.

This study has important implications for managers, policymakers and regulators. For managers, the study is an important reference to understand and design cash management policies by considering factors measured at the country level. More specifically, managers should pay more attention to periods of heightened uncertainties and geopolitical tensions in which the availability of funds is reduced. For policymakers and regulators, this study may be useful in assessing the effect of economic instability on firm’s cash holding decision. Therefore, in an effort to increase the supply of external financing available to firms, policymakers may devise investment friendly environment by controlling country-specific factors.

This paper shows how EPU and GPR as institutional environment factors affect cash holding decision in an oil-rich country.