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1 – 10 of 136Kei Kimura, Takeshi Onogi and Fuminobu Ozaki
This work examines the effects of strain rate on the effective yield strength of high-strength steel at elevated temperatures, through tensile coupon tests at various strain…
Abstract
Purpose
This work examines the effects of strain rate on the effective yield strength of high-strength steel at elevated temperatures, through tensile coupon tests at various strain rates, to propose appropriate reduction factors considering the strain rate effect.
Design/methodology/approach
The stress–strain relationships of 385 N/mm2, 440 N/mm2 and 630 N/mm2-class steel plates at elevated temperatures are examined at three strain rate values (0.3%/min, 3.0%/min and 7.5%/min), and the reduction factors for the effective yield strength at elevated temperatures are evaluated from the results. A differential evolution-based optimization is used to produce the reduction-factor curves.
Findings
The strain rate effect enhances with an increase in the standard design value of the yield point. The effective yield strength and standard design value of the yield point exhibit high linearity between 600 and 700 °C. In addition to effectively evaluating the test results, the proposed reduction-factor curves can also help determine the ultimate strength of a steel member at collapse.
Originality/value
The novelty of this study is the quantitative evaluation of the relationship between the standard design value of yield point at ambient temperature and the strain-rate effect at elevated temperatures. It has been observed that the effect of the strain rate at elevated temperatures increases with the increase in the standard design value of the yield point for various steel strength grades.
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Burak Pirgaip and Ozgur Arslan-Ayaydin
This study aims to fill a gap in the literature by providing evidence for a “greenium” in the primary Sukuk market. The term “greenium” is defined in the study as the lower cost…
Abstract
Purpose
This study aims to fill a gap in the literature by providing evidence for a “greenium” in the primary Sukuk market. The term “greenium” is defined in the study as the lower cost of capital or reduced yields that green Sukuk may offer compared to non-green Sukuk, reflecting investor willingness to accept lower returns for green investments. Therefore, the main aim of this study is to investigate the potential role of “greenium” as an incentive for issuers to fund eco-friendly projects, contributing to a sustainable environment.
Design/methodology/approach
This study uses propensity score matching techniques to provide an accurate comparison of pricing differences between green and non-green Sukuk issued in global primary markets during the period 2017–2022.
Findings
The results reveal that green Sukuk signify a “greenium” effect. This suggests that investors find green Sukuk attractive, willing to accept lower returns. Given the positive investor response to green initiatives in the market, issuers can capitalize on the growing demand for green Sukuk, leading to low-cost funding.
Originality/value
This study makes an important contribution to the literature at the interface of Islamic finance and environmental sustainability. In particular, it stands out by focusing on the pricing dynamics in the green Sukuk market and highlights the potential benefits of issuing green Sukuk to help achieve sustainability goals while providing access to lower cost of capital for the transition to a low-carbon economy.
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Haoyu Gao, Ruixiang Jiang, Junbo Wang and Xiaoguang Yang
This chapter investigates the cost of public debt for firms using a comprehensive sample consisting of 17,368 industrial bond issues from 1970 to 2011. The empirical evidence…
Abstract
This chapter investigates the cost of public debt for firms using a comprehensive sample consisting of 17,368 industrial bond issues from 1970 to 2011. The empirical evidence shows that yield spreads for seasoned bond issues are significantly lower than those for initial bond issues. This seasoning effect is robust across different sample periods, subsamples, and model specifications. On average, the yield spreads for seasoned bond issues are around 50 bps lower than those for initial bond issues. This difference cannot be explained by other bond and firm characteristics. The seasoning effect is more pronounced for firms with higher levels of uncertainty, lower information disclosure quality, and longer time intervals between the first and subsequent issues. Our empirical findings provide supportive evidence for the extant theories that aim to rationalize the information role in determining the cost of capital.
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This paper develops a debt-run model to study the effects of liquidity injections on debt markets in the presence of a renegotiation option. In the model, creditors decide when to…
Abstract
This paper develops a debt-run model to study the effects of liquidity injections on debt markets in the presence of a renegotiation option. In the model, creditors decide when to withdraw their funding and equityholders can renegotiate the contract terms of debt. We show that when equityholders have a large bargaining power, liquidity injections into distressed firms can rather cause more aggressive runs from their creditors, hurting the debt value. This outcome occurs because equityholders can strategically utilize the renegotiation option as a bankruptcy threat, pushing down the debt value below the potential liquidation value of the firm. In such a scenario, a deterred default resulting from emergency capital injections could be detrimental to creditors.
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This study aims to examine how consumers perceive the persuasion intent and sincerity of brand messages differently and to what extent the advertised brand sounds opportunistic…
Abstract
Purpose
This study aims to examine how consumers perceive the persuasion intent and sincerity of brand messages differently and to what extent the advertised brand sounds opportunistic within the context of a crisis, depending on what the message offers.
Design/methodology/approach
In Study 1 (N = 163), the brand messages were manipulated in terms of control (an empathetic claim only), monetary reward (with a discount offer) and cause-related marketing (CRM) conditions. In Study 2 (N = 150), the message effects were replicated using a different product category. In Study 3 (N = 216), the three brand messages were examined under high vs low involvement conditions.
Findings
The results revealed a linear decrease in negativity in consumer responses when the brand message offers CRM activity, followed by one that offers a discount. It was also found that the monetary reward message was perceived to have greater persuasion intent and be more opportunistic than other message types under low involvement, whereas such effects disappeared under high involvement. Conversely, the CRM message was perceived to have greater persuasion intent and be more opportunistic under high involvement (vs low).
Originality/value
Amidst the global economic impact and corporate landscape changes, there is limited understanding of consumer responses to crisis-related brand messages. Rooted in the attribution theory and the persuasion knowledge model, this study fills the gap by examining how consumers assess the underlying motives of different message types and perceive brands as taking advantage of the crisis situation.
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Aïda Mimouni Chaabane, Virginie Pez and Raphaëlle Butori
The purpose of this research is to identify how a reward programme name (“loyalty programme” (LP) versus “customer club” (CC)) influences the type of central rewards expected and…
Abstract
Purpose
The purpose of this research is to identify how a reward programme name (“loyalty programme” (LP) versus “customer club” (CC)) influences the type of central rewards expected and their impact on loyalty to the retailer.
Design/methodology/approach
The authors conducted a survey followed by an experiment.
Findings
Central rewards from programmes called LP are equally hard and soft, whereas central rewards from programmes called CC are mainly soft. Providing customers with central rewards increases satisfaction with the programme and loyalty to the retailer, but only for programmes called LP.
Practical implications
Loyalty managers are advised to pay particular attention to the consistency between the type of rewards they offer and the reward programme name that carries them. Contrary to the name LP that leads to me-too programmes, the name CC offers more flexibility to choose the rewards, providing opportunities to stand out from competing programmes.
Originality/value
By building on a new and original theoretical approach, this research is the first attempt to investigate the effect of the reward programme naming decisions on customers' evaluations and responses.
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