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Several studies have examined the relationship between spin-off announcements and stock performance. However, a comparison of the announcement effect of different schemes of spin-offs remains relatively underexplored in the literature. This study aims to find the differential impact of pure scheme and composite schemes of spin-offs on parent company stock performance. A pure scheme includes only the separation of business into independent companies, while a composite scheme includes a simultaneous merger of one of the companies with another company along with separation.

A total of 109 pure and 51 composite spin-off announcements made by Indian listed companies from 2010 to 2023 are examined using event study methodology. The cross-sectional t-test is used to measure the significance of abnormal returns. The t-test for two sample means (right-tailed) is incorporated to test the significance of variations in the stock returns of pure and composite schemes of spin-off announcements. Cross-sectional regression is also done to evaluate the impact of the type of scheme on the spin-off return.

The study found a cumulative average abnormal return of −1.06% for the pure spin-off and 8.27% for the composite spin-off over a 41-day event window. The univariate analysis revealed that the composite scheme generates a significantly higher cumulative average abnormal return than the pure scheme. Regression analysis also confirmed that the composite scheme significantly positively impacts the stock return. It can be concluded that investors favour the composite scheme, expecting that it will deliver a better strategic fit and generate synergy.

This paper makes a valuable contribution to the existing literature on corporate spin-offs. The study by analysing and comparing how the spin-off and merger combination differently affects the stock performance, helps the investor who wants to capitalize on the market imperfections and the managers to make complex business decisions.

This study examines how different stacking sequences of bamboo and flax fibers, treated with 5% aqueous sodium hydroxide (NaOH) and filled with 6wt% titanium oxide (TiO₂), affect the physical, mechanical and dry sliding wear resistance properties of a hybrid composite.

Composites with different fiber stacking arrangements were developed and tested per American Society for Testing and Materials (ASTM) standards to evaluate physical, mechanical and wear resistance properties, focusing on the impact of flax fiber mats at intermediate and outer layers.

The hybrid composite significantly outperformed composites reinforced solely with bamboo fibers, showing a 65.95% increase in tensile strength, a 53.29% boost in flexural strength and a 91.01% improvement in impact strength. The configuration with multiple layers of flax fiber mat at intermediate and outer levels also demonstrated superior wear resistance.

This study highlights the critical role of stacking order in optimizing the mechanical properties and wear resistance of hybrid composites. The findings provide valuable insights for the design and application of advanced composite materials, particularly in industries requiring high performance and durability.

This study aims to report the development and experimental evaluation of two kinds of PANI@semiconductor based photocathodic anti-corrosion coating, for application on stainless steel substrates.

PANI was in situ chemical polymerized on TiO₂ and BiVO₄ particles, and FT-IR and SEM/EDS were used to understand the characteristics and elemental distribution of the composite particles. Composite coatings, which consisted of epoxy, PANI@TiO₂ or PANI@BiVO₄ and graphene, were prepared on the 304L stainless steel. Photoelectrochemical response measurement, electrochemical tests and immersion tests were used to assess the anti-corrosion performance of the prepared coatings in 45°C 3.5 wt.% NaCl solution. And the corrosion protection mechanism was further explained by combining with surface observation.

The photoelectrochemical response tests revealed the good photocathodic effect of the coatings, and the reversible oxidation-reduction properties of PANI (pseudocapacitive effect) leading to the repeated usage of the coatings. Consequently, the anti-corrosion mechanism of the composite coating is attributed to the physical barrier effect of the coating, the anodic protection effect of PANI and the photocathodic and energy store effect.

These kind coatings could prevent corrosion from day to night for stainless steel, which has great engineering application prospects on stainless steel corrosion protection.

The purpose of this study is to improve the mechanical properties, thermal insulation properties and flame retardant properties of polyethylene terephthalate (PET), the organic montmorillonite (OMMT)/SiO₂ aerogel/PET composites and fibers were prepared, and the effects of the OMMT/SiO₂ aerogel on the structure, thermal conductivity and flame retardance of the OMMT/SiO₂ aerogel/PET composites and their fibers were systematically investigated.

The OMMT/SiO₂ aerogel/PET composites and fibers were prepared by in-situ polymerization and melt spinning using SiO₂ aerogel as thermal insulation filler and OMMT (DK2) as comodified filler.

The experimental results showed that OMMT improved the crystallization properties of PET. Compared with the crystallinity of SiO₂ aerogel/PET composites (34.8%), SiO₂ aerogel/PET composites and their fibers reached 45.1% and 49.2%, respectively. The breaking strength of the OMMT/SiO₂ aerogel/PET composite fibers were gradually increased with the OMMT content. When the content of OMMT was 0.8 wt.%, the fracture strength of the composite fibers reached 4.40 cN/dtex, which was 54% higher than that of the SiO₂ aerogel/PET fiber. In addition, the thermal insulation properties of the composites and their fibers were improved by addition of fillers, and at the same time reached the flame retardant level. The thermal conductivity of the 0.8 wt.% OMMT/SiO₂ aerogel/PET composites was 101.78 mW/(m·K), which was 49.3% and 58.8% lower than that of the SiO₂ aerogel/PET composites and the pure PET, respectively. The thermal conductivity of the fiber fabrics woven from the 0.8 wt.% OMMT/SiO₂ aerogel/PET composites was 28.18 mW/(m·K), which was 29.0% and 44.6% lower than that of the SiO₂ aerogel/PET composite fiber fabrics and PET fiber fabrics. The flame retardancy of the composites was improved, with an limiting oxygen index value of 29.2% for the 0.8 wt.% OMMT/SiO₂ aerogel/PET composites, which was 4.1% higher compared to the SiO₂ aerogel/PET composites, and achieved the flame retardant level.

The SiO₂ aerogel/PET composites and their fibers have good mechanical properties, flame retardant properties and thermal insulation properties, exhibited good potential for application in the field of thermal insulation, such as warm clothing. Nowadays, as the energy crisis is becoming more and more serious, it is very important to improve the thermal insulation properties of PET to reduce energy losses and mitigate the energy crisis.

In this study, PET based composites and their fibers with excellent mechanical properties, thermal insulation properties and flame retardant property were obtained by using three-dimensional network porous silica aerogel with low density and low thermal conductivity as the thermal insulation functional filler and two-dimensional layered OMMT as the synergetic modified filler.

This study aims to evaluate the low energy impact characteristics of 3D printed carbon fiber thermoplastic and thermoset polymer composite using the Izod impact test. The effects of infill density are examined on the Izod impact properties of 3D printed thermoset polymer and thermoplastic composite specimens. Furthermore, a thorough investigation is conducted into the effect of heat treatment using a hot-air oven on both types of 3D printed composite specimens. To characterize the impact characteristics of each specimen, the fracture surfaces caused by impact load are inspected, and the fracture mechanism is studied using scanning electron micrographs.

Izod Impact specimens of thermoset (epoxy resin) and thermoplastic carbon fiber of different infill density (70, 75, 80, 85, 90 and 100%) are fabricated using the different fiber impregnation 3D printing process. To carry out the heat treatment process, printing of composites is done for each infill design from both thermoset and thermoplastic composites and the impact characteristics of specimens are evaluated on a pendulum test-rig using the ASTM D-256 standard. Using a scanning electron microscope, each fracture zone underwent four separate scanning processes, ranging in size from 2 µm to 100 µm.

The impact resistance of the 3D printed thermoset and thermoplastic composite material is significantly influenced by the type of fiber placement and infill density in the matrix substrate. Because of the weak interfacial strength between the layers of fiber and polyamide 6, the specimen printed with continuous fiber implanted at the part exhibited reduced impact resistance. At 75% infill density, the impact specimen printed with coextruded fiber showed the highest impact resistance with a 367.02% greater magnitude than the continuous fiber specimen with the same infill density.

This work presents a novel approach to analyze the low energy impact characteristics and three-dimensional printing of carbon fiber reinforced thermoplastic and carbon fiber reinforced thermoset and thermoplastic composite material.

This study aims to investigate the impact of titanium oxide (TiO₂) filler on the coefficient of friction (COF) and specific wear rate (SWR) in flax fiber reinforced epoxy composites (FFRCs) under abrasive wear conditions utilizing the Taguchi approach. The primary objective is to enhance wear resistance and promote the development of sustainable materials for various applications.

Epoxy/flax composites with varying TiO₂ filler content (0–8 wt%) are fabricated through the hand layup method. Subsequently, wear testing is conducted following ASTM G99-05 standards. The Taguchi design of experiments (DOE) and analysis of variance (ANOVA) are utilized for statistical analysis.

Results indicate a significant improvement in abrasive wear properties with the incorporation of TiO₂ filler. The COF is found to be most influenced by the normal load (55.19%), followed by grit size, wt% TiO₂ filler and sliding distance. SWR is found to be most influenced by the grit size (42.92%), followed by wt% TiO₂, normal load and sliding distance. Notably, the Taguchi model aligns well with experimental results, demonstrating its efficacy in predicting the abrasive wear behavior of FFRCs.

This research introduces a novel hybrid composite that combines TiO₂ filler and flax fibers, showcasing their potential to enhance the tribological properties of epoxy composites. The study offers valuable insights into optimizing abrasive wear test variables in natural fiber-reinforced composites using Taguchi DOE and ANOVA, crucial for improving the performance of sustainable materials in engineering applications.

This study aims to explore the enhancement of mechanical properties in epoxy resin composites through the incorporation of graphene nanoparticles, focusing on their impact and wear resistance. It investigates the role of graphene, both treated and untreated, as a reinforcing agent in composites, highlighting the significance of nanoparticle dispersion and surfactant treatment in optimizing mechanical performance.

Employing a novel dispersion technique using a drawing brush, this research contrasts with traditional methods by examining the effects of graphene nanoparticle concentrations treated with surfactants – Polyvinylpyrrolidone (PVP) and Sulphonated Naphthalene Formaldehyde (SNF) – on the mechanical properties of epoxy resin composites. The methodology includes conducting a series of impact and wear tests to assess the influence of graphene reinforcement on the composites' performance.

The findings reveal a marked enhancement in the composites impact resistance and energy absorption capabilities, which escalate with an increase in graphene content. Additionally, the study demonstrates a significant improvement in wear resistance, attributed to the superior mechanical properties, robust interface adhesion and effective dispersion of graphene. The use of surfactants for graphene treatment is identified as a crucial factor in these advancements, offering profound insights into the development of advanced composite materials for diverse industrial uses.

This study introduces a unique dispersion technique for graphene in epoxy composites, setting it apart from conventional methods. By focusing on the critical role of surfactant treatment in enhancing the mechanical properties of graphene-reinforced composites, it provides a novel insight into the optimization of impact and wear resistance.

This study aims to explore the synthesis, characteristics and utilization of polymer composites integrated with cutting-edge pigments.

The incorporation of advanced pigments introduces functionalities such as enhanced mechanical strength, thermal stability, ultraviolet resistance and color stability, thus extending the range of applications in diverse fields including automotive, aerospace, electronics and construction.

This review discusses the mechanisms underlying the property enhancements achieved through the incorporation of advanced pigments and highlights recent developments in the field.

Polymer composites incorporating advanced pigments have garnered significant attention in recent years because of their potential to enhance various material properties and broaden their applications. This paper explores the fabrication methods of polymer composites reinforced with organic/inorganic advanced pigments in brief along with their characteristics and applications.

This paper aims to investigate the differences in hot corrosion behavior of the GTD222 superalloy and TiC/GTD222 composite in a mixed salt of 75% Na₂SO₄ and 25% K₂SO₄ at 900°C.

The GTD222 superalloy and TiC/GTD222 nickel-based composite were prepared using selective laser melting (SLM). Subsequently, the hot corrosion behavior of the two alloys was systematically investigated in a salt mixture consisting of 75% Na₂SO₄ and 25% K₂SO₄ (Wt.%) at 900°C.

The TiC/GTD222 composite exhibited better hot corrosion resistance compared to the GTD222 superalloy. First, the addition of alloying elements led to the formation of a protective oxide film on the TiC/GTD222 composites 20 h before hot corrosion. Second, TiC/GTD222 composite corrosion surface has a higher Ti content, after 100 h of hot corrosion, the composite corrosion surface Ti content of 10.8% is more than two times the GTD222 alloy 4% Ti. The Ti and Cr oxides are tightly bonded, effectively resisting the erosion of corrosive elements.

The hot corrosion behavior of GTD222 superalloy and TiC/GTD222 composites prepared by SLM in a mixed salt of 75% Na₂SO₄ and 25% K₂SO₄ was studied for the first time. This study provides insights into the design of high-temperature alloys resistant to hot corrosion.

Multilayer composite liner structures are the primary structural form of hydraulic tunnels. However, the bearing mechanism of multilayer composite liners has not been investigated thoroughly. Many existing design schemes do not properly achieve a balance between structural safety, anti-seepage capacity, and cost effectiveness. Thus, a new composite liner structure type and its theoretical model was proposed.

A novel hydraulic tunnel composite liner structure with a polyurea spray coating interlayer was proposed in this study. A theoretical model based on the state-space method was developed and verified using FEM models and existing theoretical models. Parametric analysis was conducted based on the theoretical model to investigate the influence of various variables, including interfacial shear stiffness, inner liner thickness, and outer liner elastic modulus.

It was concluded that the proposed theoretical model can be used successfully to calculate multilayer composite liner structures with high calculation efficiency. The overall deformation stiffness of the composite liner system increased with the interfacial shear stiffness. The sprayed coating interlayer significantly affects the residual force distribution between the outer and inner liners, which can also be affected by the adjustment of the thickness of the outer and inner liners. Thus, attention should be paid to these factors in the rational design of the proposed composite liner system.

With the development of China’s water conservancy projects, complex geological conditions, high surrounding rock stress, high internal and external water pressures, and other unique application scenarios have gradually increased. This places higher requirements on the bearing performance and impermeability of hydraulic tunnel lining structures. On the other hand, conventional hydraulic tunnel lining structures can hardly achieve a satisfactory balance between economy, structural safety, and impermeability. Thus, the proposed structure has the potential to be used in a wide range of applications.