Search results

1 – 10 of over 1000
Open Access
Article
Publication date: 11 April 2023

Idris A. Adediran, Raymond Swaray, Aminat O. Orekoya and Balikis A. Kabir

This study aims to examine the ability of clean energy stocks to provide cover for investors against market risks related to climate change and disturbances in the oil market.

Abstract

Purpose

This study aims to examine the ability of clean energy stocks to provide cover for investors against market risks related to climate change and disturbances in the oil market.

Design/methodology/approach

The study adopts the feasible quasi generalized least squares technique to estimate a predictive model based on Westerlund and Narayan’s (2015) approach to evaluating the hedging effectiveness of clean energy stocks. The out-of-sample forecast evaluations of the oil risk-based and climate risk-based clean energy predictive models are explored using Clark and West’s model (2007) and a modified Diebold & Mariano forecast evaluation test for nested and non-nested models, respectively.

Findings

The study finds ample evidence that clean energy stocks may hedge against oil market risks. This result is robust to alternative measures of oil risk and holds when applied to data from the COVID-19 pandemic. In contrast, the hedging effectiveness of clean energy against climate risks is limited to 4 of the 6 clean energy indices and restricted to climate risk measured with climate policy uncertainty.

Originality/value

The study contributes to the literature by providing extensive analysis of hedging effectiveness of several clean energy indices (global, the United States (US), Europe and Asia) and sectoral clean energy indices (solar and wind) against oil market and climate risks using various measures of oil risk (WTI (West Texas intermediate) and Brent volatility) and climate risk (climate policy uncertainty and energy and environmental regulation) as predictors. It also conducts forecast evaluations of the clean energy predictive models for nested and non-nested models.

Details

Fulbright Review of Economics and Policy, vol. 3 no. 1
Type: Research Article
ISSN: 2635-0173

Keywords

Open Access
Article
Publication date: 7 June 2021

Giuseppe Di Vita, Raffaele Zanchini, Giovanni Gulisano, Teresina Mancuso, Gaetano Chinnici and Mario D'Amico

Urban metropolitan consumers react to the different qualitative categorizations of the product thus creating homogeneous market segments. The aim of this paper is to identify…

2758

Abstract

Purpose

Urban metropolitan consumers react to the different qualitative categorizations of the product thus creating homogeneous market segments. The aim of this paper is to identify specific market segments which allow for the definition of homogeneous olive oil consumer targets.

Design/methodology/approach

This study was based on the stated preferences of consumers and emphasizes the role that different quality scales of olive oil have in the eye of the consumer. The data, collected through a questionnaire, were analysed by means of inferential and multivariate statistics techniques, that is, the study specifically entailed a factorial and cluster analysis.

Findings

This paper explores olive oil market segments broken down by the different quality levels of existing products, thus trying to identify main consumer preferences. Our outcomes suggest the existence of three main quality classes of olive oil consumer: basic, popular and premium.

Research limitations/implications

Even though we gathered data and information from a broad sample, the study does not fully reflect the average Italian population since we based our study on a convenience sample of northern Italian consumers. A more extended sample is needed to test our hypothesis in other regional areas.

Practical implications

The outcomes derived from this study provide useful insights both for marketers and olive oil producers by allowing more efficient strategic decisions in terms of product segmentation.

Originality/value

This study, aimed at matching olive oil market segments and consumer preferences, shows the existence of three well-defined quality classes of olive oil consumer: basic, popular and premium. In addition, this study ascertains for the first time how the attitude towards local products is positively influenced by family origin as a result of an inter-generational attitude.

Details

British Food Journal, vol. 123 no. 13
Type: Research Article
ISSN: 0007-070X

Keywords

Open Access
Article
Publication date: 5 November 2021

Darko Lovrec and Vito Tič

Apart from the basic material properties of liquid lubricants, such as, e.g., the viscosity and density of the hydraulic fluid, it is also important to have information regarding…

2826

Abstract

Purpose

Apart from the basic material properties of liquid lubricants, such as, e.g., the viscosity and density of the hydraulic fluid, it is also important to have information regarding the electrical properties of the fluid used. The latter is closely related to the purpose, type, structure, and conditions of use of a hydraulic system, especially the powertrain design and fluid condition monitoring. The insulating capacity of the hydraulic fluid is important in cases where the electric motor of the pump is immersed in the fluid. In other cases, on the basis of changing the electrical conductive properties of the hydraulic fluid, we can refer its condition, and, on this basis, the degree of degradation.

Design/methodology/approach

The paper first highlights the importance of knowing the electrical properties of hydraulic fluids and then aims to compare these properties, such as the breakdown voltage of commonly used hydraulic mineral oils and newer ionic fluids suitable for use as hydraulic fluids.

Findings

Knowledge of this property is crucial for the design approach of modern hydraulic compact power packs. In the following, the emphasis is on the more advanced use of known electrical quantities, such as electrical conductivity and the dielectric constant of a liquid.

Originality/value

Based on the changes in these quantities, we have the possibility of real-time monitoring the hydraulic fluid condition, on the basis of which we judge the degree of fluid degradation and its suitability for further use.

Details

Industrial Lubrication and Tribology, vol. 74 no. 3
Type: Research Article
ISSN: 0036-8792

Keywords

Open Access
Article
Publication date: 22 September 2023

Nengsheng Bao, Yuchen Fan, Chaoping Li and Alessandro Simeone

Lubricating oil leakage is a common issue in thermal power plant operation sites, requiring prompt equipment maintenance. The real-time detection of leakage occurrences could…

Abstract

Purpose

Lubricating oil leakage is a common issue in thermal power plant operation sites, requiring prompt equipment maintenance. The real-time detection of leakage occurrences could avoid disruptive consequences caused by the lack of timely maintenance. Currently, inspection operations are mostly carried out manually, resulting in time-consuming processes prone to health and safety hazards. To overcome such issues, this paper proposes a machine vision-based inspection system aimed at automating the oil leakage detection for improving the maintenance procedures.

Design/methodology/approach

The approach aims at developing a novel modular-structured automatic inspection system. The image acquisition module collects digital images along a predefined inspection path using a dual-light (i.e. ultraviolet and blue light) illumination system, deploying the fluorescence of the lubricating oil while suppressing unwanted background noise. The image processing module is designed to detect the oil leakage within the digital images minimizing detection errors. A case study is reported to validate the industrial suitability of the proposed inspection system.

Findings

On-site experimental results demonstrate the capabilities to complete the automatic inspection procedures of the tested industrial equipment by achieving an oil leakage detection accuracy up to 99.13%.

Practical implications

The proposed inspection system can be adopted in industrial context to detect lubricant leakage ensuring the equipment and the operators safety.

Originality/value

The proposed inspection system adopts a computer vision approach, which deploys the combination of two separate sources of light, to boost the detection capabilities, enabling the application for a variety of particularly hard-to-inspect industrial contexts.

Details

Journal of Quality in Maintenance Engineering, vol. 29 no. 5
Type: Research Article
ISSN: 1355-2511

Keywords

Open Access
Article
Publication date: 2 August 2019

Maria de Lourdes Miranda-Medina, Christian Tomastik, Tia Truglas, Heiko Groiss and Martin Jech

The purpose of this paper is to provide a general picture for describing the formed tribofilm, including chemical and physical aspects in the micro-scale and the nano-scale. In a…

1177

Abstract

Purpose

The purpose of this paper is to provide a general picture for describing the formed tribofilm, including chemical and physical aspects in the micro-scale and the nano-scale. In a previous study, the durability of zinc dialkyl dithiophosphate (ZDDP) tribofilms on cylinder liner samples has been investigated in a tribometer model system by using fresh and aged fully formulated oils and replacing them with PAO8 without additives. Analyses of the derived tribofilms by means of X-ray photoelectron spectroscopy and scanning electron microscopy could give some hints about the underlying mechanisms of the tribofilm build-up and wear performance, but a final model has not been achieved.

Design/methodology/approach

Thus, characterisation of these tribofilms by means of focused ion beam-transmission electron microscopy (FIB-TEM) and energy dispersive X-ray spectroscopy is presented and a concluding model of the underlying mechanisms of tribofilm build-up is discussed in this paper.

Findings

For tribotests running first with fresh fully formulated engine oil, a rather homogeneous ZDDP-like tribofilm is found underneath a carbon rich tribofilm after changing to non-additivated PAO8. However, when the tests run first with aged fully formulated engine oil, no ZDDP-like tribofilm has been found after changing to non-additivated PAO8, but a wear protective carbon rich tribofilm.

Originality/value

The obtained results provide insights into the structure and durability of tribofilms. Carbon-based tribofilms are built up on the basis of non-additivated PAO8 because of the previously present ZDDP tribofilms, which suggests an alternative way to reducing the consumption of antiwear additives.

Details

Industrial Lubrication and Tribology, vol. 72 no. 4
Type: Research Article
ISSN: 0036-8792

Keywords

Open Access
Article
Publication date: 10 August 2018

Yishou Wang, Zhibin Han, Tian Gao and Xinlin Qing

The purpose of this study is to develop a cylindrical capacitive sensor that has the advantages of high resolution, small size and designability and can be easily installed on…

1841

Abstract

Purpose

The purpose of this study is to develop a cylindrical capacitive sensor that has the advantages of high resolution, small size and designability and can be easily installed on lubricant pipeline to monitor lubricant oil debris.

Design/methodology/approach

A theoretical model of the cylindrical capacitive sensor is presented to analyze several parameters’ effectiveness on the performance of sensor. Numerical simulations are then conducted to determine the optimal parameters for preliminary experiments. Experiments are finally carried out to demonstrate the detectability of developed capacitive sensors.

Findings

It is clear from experimental results that the developed capacitive sensor can monitor the debris in lubricant oil well, and the capacitance values increase almost linearly when the number and size of debris increase.

Research limitations/implications

There is lot of further work to do to apply the presented method into the application. Especially, it is necessary to consider several factors’ influence on monitoring results. These factors include the flow rate of the lubricant oil, the temperature, the debris distribution and the vibration. Moreover, future work should consider the influence of the oil degradation to the capacitance change and other contaminations (e.g. water and dust).

Practical implications

This work conducts a feasibility study on application of capacitive sensing principle for detecting debris in aero engine lubricant oil.

Originality/value

The novelty of the presented capacitance sensor can be summarized into two aspects. One is that the sensor structure is simple and characterized by two coaxial cylinders as electrodes, while conventional capacitive sensors are composed of two parallel plates as electrodes. The other is that sensing mechanism and physical model of the presented sensor is verified and validated by the simulation and experiment.

Details

Industrial Lubrication and Tribology, vol. 70 no. 7
Type: Research Article
ISSN: 0036-8792

Keywords

Open Access
Article
Publication date: 22 November 2022

Xinjun Zhou

Under the dual pressure of resources and environment, many countries have focused on the role of railways in promoting low-carbon development of integrated transportation and of…

Abstract

Purpose

Under the dual pressure of resources and environment, many countries have focused on the role of railways in promoting low-carbon development of integrated transportation and of even the whole society. This paper aims to provide a comprehensive study on methods to improve railway energy efficiency in other national railways and achievements made by China’s railways in the past practice, and then to propose ways in which in the future China’s railways could rationally select the path of improving energy efficiency regarding the needs of the nation's ever-shifting development and carry out the re-engineering for mechanism innovation in energy conservation and emission reduction process.

Design/methodology/approach

This paper first studies other national railways that have tried to promote the improvement of railway energy efficiency by the ways of technology, management and structural reconstruction to reduce energy consumption and carbon emissions. Among them, the effect of structural energy conservation and emission reduction has become more prominent. It has become the main energy conservation and emission reduction measure adopted by foreign railway sectors. The practice of energy conservation and emission reduction of railways in various countries has tended to shift from a technical level to a structural one.

Findings

Key aspects in improving energy efficiency include re-optimization of energy structure, re-innovation of energy-saving technologies and optimization of transportation organization. Path selection includes continuing to promote electrified railway construction, increasing the use of new and renewable energy sources, and promoting the reform of railway transportation organizations.

Originality/value

This paper provides further challenges and research directions in the proposed area and has referential value for the methodologies, approaches for practice in a Chinese context. To achieve the expected goals, relevant supporting policies and measures need to be formulated, including actively guiding integrated transportation toward railway-oriented development, promoting innovation in energy-saving and emission reduction mechanisms and strengthening policy incentives, focusing on improving the energy efficiency of railways through market behavior. At the same time, it is necessary to pay attention to new phenomena in the railway industry for track and analysis.

Open Access
Article
Publication date: 29 March 2023

Fabrizio Flavio Baldassarre, Savino Santovito, Raffaele Campo and Giacomo Dilorenzo

Palm oil is widely used in the food industry; however, there are two main controversies connected to its use, namely, its nutritional value and the environmental consequences…

1380

Abstract

Purpose

Palm oil is widely used in the food industry; however, there are two main controversies connected to its use, namely, its nutritional value and the environmental consequences deriving from its crop. In Italy, the use of palm oil has recently been criticized, insomuch that some important bakery companies decided to substitute it, creating a real food marketing case. Through a focus on biscuits, this study is aimed at profiling consumers with regard to palm oil issue to better comprehend if the presence of this ingredient truly influences their food purchases and if they care about the nutritional and environmental aspects, highlighting the impact of the Covid-19 pandemic on consumers' consumption.

Design/methodology/approach

A questionnaire was administered to 243 subjects in Italy, in order to apply a cluster analysis.

Findings

The findings show the presence of three main kinds of consumers: (1) compromise finders (sensitive to cost savings but trying to privilege palm-oil free food), (2) brand-loyal consumers (palm oil does not influence their preferences) and (3) healthsensitives (the presence of palm oil profoundly affects their choices), who represent the majority of our sample. The results and implications are discussed.

Originality/value

Research on palm oil is essentially focused on chemistry, natural sciences or on its industrial uses: this study analyzes the consumer point of view by applying a different methodology compared to existing studies.

Details

British Food Journal, vol. 126 no. 1
Type: Research Article
ISSN: 0007-070X

Keywords

Open Access
Article
Publication date: 24 May 2021

Imlak Shaikh

The crude oil market has experienced an unprecedented overreaction in the first half of the pandemic year 2020. This study aims to show the performance of the global crude oil

3852

Abstract

Purpose

The crude oil market has experienced an unprecedented overreaction in the first half of the pandemic year 2020. This study aims to show the performance of the global crude oil market amid Covid-19 and spillover relations with other asset classes.

Design/methodology/approach

The authors employ various pandemic outbreak indicators to show the overreaction of the crude oil market due to Covid-19 infection. The analysis also presents market connectedness and spillover relations between the crude oil market and other asset classes.

Findings

One of the essential findings the authors report is that the crude oil market remains more responsive to pandemic fake news. The shock of the global pandemic panic index and pandemic sentiment index appears to be more promising. It has also been noticed that the energy trader's sentiment (OVX and OIV) was measured at a too high level within the Covid-19 outbreak. Volatility spillover analysis shows that crude oil and other market are closely connected, and the total connectedness index directs on average 35% contribution from spillover. During the initial growth of the infection, other macroeconomic and political events remained to favor the market. The second phase amidst the pandemic outbreak harms the global crude oil market. The authors find that infectious diseases increase investor panic and anxiety.

Practical implications

The crude oil investors' sentiment index OVX indicates fear and panic due to infectious diseases and lack of hedge funds to protect energy investments. The unparalleled overreaction of the investors gauged in OVX indicates market participants have paid an excessive put option (protection) premium over the contagious outbreak of the infectious disease.

Originality/value

The empirical model and result reported amid Covid-19 are novel in terms of employing a news-based index of the pandemic, which are based on the content analysis and text search using natural processing language with the aid of computer algorithms.

研究目的

原油市場在流行病肆虐的2020年的頭半年經歷史無前例的過度反應。本文旨在顯示全球原油市場在2019冠狀病毒病流行期間的表現及原油市場與其它資產類別之溢出關係.

研究設計/方法/理念

我們使用各種大流行病爆發的指標,來顯示原油市場因2019冠狀病毒病的感染而過度反應。我們的分析亦涉及市場的關聯性及原油市場與其它資產類別之溢出關係.

研究結果

我們其中一個基本的發現是: 原油市場仍對大流行病的虛假新聞有更迅速的反應。全球大流行病恐慌性指數及大流行病情緒指數所帶來的震驚似乎是有希望的。大家亦察覺,能源交易商的情緒(OVX及OIV) 在2019冠狀病毒病爆發期間被測量為處於太高的水平。波動溢出分析顯示、原油與其它市場有密切的關係,而總關聯度指數引導平均35%來自溢出量的作用。在感染傳播初期,其它的宏觀經濟和政治事件仍對市場有利。在大流行病爆發期間的第二階段則損害全球原油市場。我們發現,傳染病會增加投資者的恐慌和焦慮.

實際的意義

原油投資者的情緒指數OVX顯示因傳染病及因缺乏對沖基金來保障能源投資而帶來的懼怕和恐慌。於OVX測算到的投資者空前的過度反應顯示市場參與者就這傳染病的感染爆發付出過量的賣權(保障)權利金.

研究的原創性

我們的經驗模型和在2019冠狀病毒病肆虐期間匯報的研究結果,從使用以新聞為基礎的流行病指數的角度而言是新穎的。而這些全以內容分析和正文搜尋為基礎、使用自然語言處理,並輔以計算機算法.

Details

European Journal of Management and Business Economics, vol. 30 no. 3
Type: Research Article
ISSN: 2444-8451

Keywords

Open Access
Article
Publication date: 12 July 2022

Ahmed Samir Mahdi

This paper aims to argue that the Global Political Economy (GPE) theory of neomercantilism provides a sound explanation to the American military involvement in the Persian Gulf…

1131

Abstract

Purpose

This paper aims to argue that the Global Political Economy (GPE) theory of neomercantilism provides a sound explanation to the American military involvement in the Persian Gulf. Accordingly, this paper also proposes the concept of “Neomercantilist War” which analyses the use of military force to protect a strategically vital economic resource (such as Gulf oil). Neomercantilist War is a point of similarity between the GPE school of neomercantilism and the International Relations (IR) school of realism.

Design/methodology/approach

The 1991 Gulf War and the American invasion of Iraq in 2003 are two major events of American military involvement to protect and/or seize Gulf oil. These two events will be tested for neomercantilism, in addition to the concept of “Neomercantilist War” as presented in the paper. The first feature, or definitional component, of neomercantilism is the major role of the state, the second is the preponderance of security/geopolitical goals over economic goals and the third is the zero-sum, relative gains mentality to dealing between states IR.

Findings

The GPE school of neomercantilism and the concept of Neomercantilist War do offer a sound explanation of American military involvement in the Gulf.

Originality/value

The American military involvement in the Gulf region has been analysed using the IR schools of realism and liberalism, but never using GPE theory. Even though GPE is mostly concerned with economic activity, the scope of GPE should be expanded to include military policies if they affect economic resources and activity.

Details

Review of Economics and Political Science, vol. 7 no. 4
Type: Research Article
ISSN: 2356-9980

Keywords

1 – 10 of over 1000