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The purpose of this paper is to prepare a multifunctional nanocomposite that is slow-release and resistant to seawater corrosion and biofouling corrosion and to explore the synergistic effect between the two corrosion inhibitors.

The morphology, structure and release properties of CAP@HNTs, BTA@HNTs and CAP/BTA@HNTs were investigated by scanning electron microscopy, transmission electron microscopy, Fourier transform infrared spectroscopy, specific surface area analysis and UV spectrophotometry. The corrosion resistance and antimicrobial properties were investigated by electrochemical measurements and bioinhibition rate tests, and the synergistic effect between the two corrosion inhibitors was explored by X-ray photoelectron spectroscopy.

The CAP/BTA@HNTs are responsive to acidic environments and have significantly improved antibacterial and corrosion resistance compared with CAP@HNTs and BTA@HNTs. CAP and BTA have a positive synergistic effect on anticorrosion and antifouling.

Two types of inhibitors, anticorrosion and antifouling, were loaded into the same nanocontainer to prepare a slow-releasable and multifunctional nanocomposite with higher resistance to seawater corrosion and biocorrosion and to explore the synergistic effect of CAP and BTA on corrosion resistance.

This study aims to examine the cross-sectional variation in risk of US-based micro-cap open-end mutual funds. Micro-cap mutual funds allow investors to access very low-priced stocks issued by the smallest of companies. The stock of these firms is usually not traded in major exchanges, and their financial information is not readily available and, thus, regarded as risky investments.

The author examines the cross-sectional variation in risk and higher moments of US-based micro-cap mutual funds in comparison with that of small-cap and mid-cap mutual funds. Total, systematic and idiosyncratic risk metrics, along with higher moments, are estimated before, during and after the 2008 financial crisis.

The author finds that, indeed, based on total and idiosyncratic risk metrics, the sample of micro-cap funds is riskier than the size-matched samples of small-cap and mid-cap funds. The author also reports that the sample of micro-cap funds fail to generate higher excess returns than the less risky small-cap and mid-cap funds.

To the best of the author’s knowledge, this is the first time that the risk of small-cap mutual funds has been examined.

In healthcare, overuse and underuse of medical treatments represent equally dangerous deviations from an optimal use equilibrium and arouse concerns about possible implications for patients’ health, and for the healthcare system in terms of both costs and access to medical care. Medical liability plays a dominant role among the elements that can affect these deviations. Therefore, a remarkable economic literature studies how medical decisions are influenced by different levels of liability. In particular, identifying the relation between liability and treatments selection, as well as disentangling the effect of liability from other incentives that might be in place, is a task for sound empirical research. Several studies have already tried to tackle this issue, but much more needs to be done. In this chapter, we offer an overview of the state of the art in the study of the relation between liability and treatments selection. First, we reason on the theoretical mechanisms underpinning the relationship under investigation by presenting the main empirical predictions of the related literature. Second, we provide a comprehensive summary of the existing empirical evidence and its main weaknesses. Finally, we conclude by offering guidelines for further research.

The Compliance Assurance Process (CAP) is a federally funded IRS corporate audit program. The program’s goal is to determine the best tax treatment for complex transactions before a corporation files its tax return. The US Department of the Treasury has voiced concerns regarding resource constraints and whether the program enhances public (nonprofessional investor) and investor confidence. We conduct a behavioral experiment using 176 Master of Business Administration and Master of Accounting students as proxies for nonprofessional investors. In the experiment, we examine the effects of CAP participation and corporate tax risk profile on judgments about financial statement credibility. We use a 2 × 2 experimental design with corporate tax risk profile manipulated as high risk or low risk and participation in CAP manipulated as participatory or non-participatory. This research investigates whether CAP program participation and/or tax risk level influence nonprofessional investors’ perceptions of the certainty and accuracy of the provision for income taxes. The results suggest both CAP program participation and tax risk influence nonprofessional investors’ perceptions of the certainty of the income tax provision; and tax risk also influences nonprofessional investors’ perception of the accuracy of the income tax provision.

We develop an extension of the Traditional Deterrence Game to examine the interaction between international and domestic sources of uncertainty as these sources influence the behavior of Challengers and Defenders. The extension involves incorporating a third and a fourth domestic player, named Assassin ♯1 and Assassin ♯2. Assassin ♯1 reacts to Challenger's decision to capitulate to Defender, and Assassin ♯2 reacts to Defender's decision to capitulate to Challenger. From the perspective of Challenger and Defender, Assassin ♯1 and Assassin ♯2 are lotteries that involve a probability of being punished, and a complementary probability of not being punished, for the decisions to capitulate to the adversary, respectively, in the international game. We employ the two-sided incomplete information version of the game wherein Challenger is uncertain about Defender's type and the behavior of Assassin ♯1, and Defender is uncertain about Challenger's type and the behavior of Assassin ♯2.

The model provides an account of the trade-off between domestic and international conflicts generally, and specifies the conditions under which Challenger and/or Defender is advantaged in the international game with the presence of a domestic constraint in the form of Assassin ♯1 or Assassin ♯2. The model generates two striking results in particular. First, Assassin ♯1 can influence the behavior of some Challengers, whereas Assassin ♯2 can determine the behavior of some Defenders. Second, the Challengers who ultimately capitulate are more prone to initiate conflict, in the first place, than are the Challengers who will not capitulate.

The agricultural sector remains the backbone of several emerging economies, including Kenya, where it contributes 34% to its gross domestic product (GDP). However, access to financing for agricultural activities appears to be very low compared to developed economies. Following this, governments in a number of countries have sought to introduce banking sector regulations to facilitate increased funding to the agricultural sector. Taking motivation of the interest rate capping regulations by the Central Bank of Kenya (CBK) in 2016, this paper examined the effect of these interest rate ceiling regulations on agri-lending in Kenya.

The paper employs random effects technique to estimate a panel data of 26 commercial banks in Kenya from 2014 to 2018 using the ratio of loans to agricultural sector to gross loans and the natural logarithm of loans to agricultural sector as proxies for agri-lending. Bank size, equity, asset quality, liquidity, revenue concentration and bank concentration are employed as control variables.

The results of the panel regression estimations show that the introduction of the interest cap resulted in increases in the proportion and growth in agri-lending compared with the pre-interest cap period. In addition, large banks and highly capitalised banks were found to be associated with lower agri-lending, with differences in the effects across pre-cap and post-cap periods.

From a policy perspective, the findings highlight the effectiveness of interest rate capping in meeting this objective and supports the calls for strengthening cooperation between the government and key stakeholders in the financial sector. This will allow for the effective enforcement of policies by the regulatory powers in a manner that guarantees sound and dynamic financial systems, particularly within the agricultural sector.

As far as the authors are aware, this the first paper to examine the effect of the interest rate cap regulation on agri-lending in Kenya.

Describes work currently being done by the Leeds Metropolitan University (LMU) in action‐based learning and its use in the development of graduates and regional industry. Examines a pilot scheme – the Company Associate Partnership Scheme (CAPS) – which aims to increase the employment of graduates within small businesses. This, it is hoped, will enable companies to introduce strategic change projects. Includes observations of LMU associates, companies involved, academic institutions and the Department of Trade and Industry. Concludes that the greatest challenge for associates is managing the integration of academia and industry to form a learning partnership.

The purpose of this paper is to investigate the effectiveness of recommendations made by the Australian Stock Exchange (ASX) relating to audit committees in Australia, and whether they have improved financial reporting quality for low‐ and mid‐cap listed firms.

The authors examine the relation between characteristics of the audit committee and financial reporting quality for listed companies not mandated to comply with these requirements, i.e. low‐ and mid‐cap firms. For a sample of 288 firms, the authors regress measures of audit committee independence, expertise and activity and size on alternative measures of earnings management.

A significant association is found between all three characteristics and lower earnings management. The significant measure for independence is the proportion of independent directors on the audit committee; for expertise, it is that at least one member of the audit committee has an accounting qualification; and for activity and size, it is the frequency of audit committee meetings.

The results provide support for the mandatory establishment of audit committees for the top 500 (high‐ and mid‐cap) firms introduced by the ASX and suggest those audit committee characteristics which could improve financial reporting quality for low‐ and mid‐cap firms.

The paper examines low‐ and mid‐cap firms in order to complement previous similar studies done for high‐cap firms. It identifies the effects on financial reporting quality of voluntarily choosing to have an audit committee and of the choice of audit committee characteristics, in the period after substantial corporate governance reform. It includes a new measure among audit committee characteristics, industry expertise, which is required in Australia and is new to the literature.

The prevalence of psychiatric disorders in children and young people is increasing, leading to recommendations that medical schools re-consider their curriculum content and teaching practices for child and adolescent psychiatry (CAP). The purpose of this paper is to seek guidance for undergraduate curriculum development from the wider literature on CAP curriculum content and teaching practices.

A comprehensive search of the literature was conducted, focussing on studies that examined undergraduate teaching of CAP. In an attempt to establish whether there is an agreed level of curriculum content and teaching practices, literature from all over the world was included.

Findings suggest that curriculum content and teaching practices are varied, therefore it was difficult to identify best practice upon which recommendations can be made. In addition, despite previous calls for curriculum improvements and expansion of learning objectives, recent studies suggest that there has been little change.

A common theme emerging was the importance of making the CAP curriculum relevant to all future doctors rather than only those who plan to specialise in CAP. Further research to determine what CAP knowledge, skills and attitudes non-psychiatrists think that medical students need to be taught is warranted.

This paper reviewed the literature on undergraduate CAP teaching, highlighting common themes from the wider literature on medical curriculum development to inform how CAP curricula content can be developed to equip future doctors.

A recent case of a criminal prosecution using the 1987 Consumer Protection Act Part 2 was applied to the serious eye injury of a teenager resulting from the explosive separation of a cap from a bottle of Coca‐Cola. The scientific evidence used by the Defence, who were found not guilty, is considered herein to be flawed and its value challenged. The energy and velocity of missiling caps are calculated for a range of pressure and headspace volumes. The energy of a missiling cap was shown to increase approximately linearly with pressure and/or headspace volume. Missiling velocities of up to 12 m/s are achievable on a 70 per cent vacuity and it is shown that, for a typical product pressure of 34 psig (2.31 bar), a headspace of 0.82 litres is capable of projecting a cap at sonic velocity. This raises disturbing questions, inter alia, about the wisdom of continuing to market large three‐litre packs of carbonated drinks. Headspace of carbonated drinks should be kept as low as the filling plant will allow; this reduces the ballistic energy when premature separation of the cap occurs. Applying a permanent hinge, linking the cap to the security ring, would prevent injuries from explosive separation of a cap from the neck of a bottle. Introducing a system of assessors into the legal procedures in a complex hearing is proposed, in view of the higher burden of proof required in criminal actions such as the one described.