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1 – 10 of over 5000Xiaogen Liu, Shuang Qi, Detian Wan and Dezhi Zheng
This paper aims to analyze the bearing characteristics of the high speed train window glass under aerodynamic load effects.
Abstract
Purpose
This paper aims to analyze the bearing characteristics of the high speed train window glass under aerodynamic load effects.
Design/methodology/approach
In order to obtain the dynamic strain response of passenger compartment window glass during high-speed train crossing the tunnel, taking the passenger compartment window glass of the CRH3 high speed train on Wuhan–Guangzhou High Speed Railway as the research object, this study tests the strain dynamic response and maximum principal stress of the high speed train passing through the tunnel entrance and exit, the tunnel and tunnel groups as well as trains meeting in the tunnel at an average speed of 300 km·h-1.
Findings
The results show that while crossing the tunnel, the passenger compartment window glass of high speed train is subjected to the alternating action of positive and negative air pressures, which shows the typical mechanic characteristics of the alternating fatigue stress of positive-negative transient strain. The maximum principal stress of passenger compartment window glass for high speed train caused by tunnel aerodynamic effects does not exceed 5 MPa, and the maximum value occurs at the corresponding time of crossing the tunnel groups. The high speed train window glass bears medium and low strain rates under the action of tunnel aerodynamic effects, while the maximum strain rate occurs at the meeting moment when the window glass meets the train head approaching from the opposite side in the tunnel. The shear modulus of laminated glass PVB film that makes up high speed train window glass is sensitive to the temperature and action time. The dynamically equivalent thickness and stiffness of the laminated glass and the dynamic bearing capacity of the window glass decrease with the increase of the action time under tunnel aerodynamic pressure. Thus, the influence of the loading action time and fatigue under tunnel aerodynamic effects on the glass strength should be considered in the design for the bearing performance of high speed train window glass.
Originality/value
The research results provide data support for the analysis of mechanical characteristics, damage mechanism, strength design and structural optimization of high speed train glass.
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Hazera-Tun- Nessa and Katsushi S. Imai
Existence of working poverty reduces the effectiveness of the strategy of “increasing employment to reduce poverty”. Developed countries are already concerned about it but…
Abstract
Purpose
Existence of working poverty reduces the effectiveness of the strategy of “increasing employment to reduce poverty”. Developed countries are already concerned about it but insufficient attention has been made by developing countries. Focusing on developing countries this study identifies (1) the effects of trade openness (TO) on working poverty and (2) whether the working poverty trap exists or not in developing countries. Both objectives are also analyzed for three subsamples of low income, lower-middle income and upper-middle income developing countries.
Design/methodology/approach
Panel data for 98 developing countries over the period of 2000–2016 have been collected for the study. Fixed effect and GMM methods are applied for static and dynamic analysis, respectively.
Findings
The study finds that TO significantly reduces working poverty rate (WPR) (mainly driven up by upper-middle income developing countries). The positive association between WPR with its previous year's rate proves the existence of working poverty trap.
Research limitations/implications
The study's outcome is subject to selected time, countries and methods. Future research should use more improve methods and should identify the channels through which TO could affect working poverty.
Practical implications
Middle income and upper-middle income developing countries should increase TO to reduce the working poverty. Low income developing countries that have the highest working poverty should search the way to derive beneficial effects of trade on working poverty.
Social implications
Working poverty is not only a developed country issue rather it is a global phenomenon. Hence, it is expected that the study will raise the social consciousness about this phenomenon in developing countries too.
Originality/value
The study fulfills the gaps of identifying the effects of TO on working poverty and existence of in-work poverty trap in developing countries.
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The purpose of this study is to provide new insights into the relationship between fiscal policy and total factor productivity (TFP) while accounting for several economic and…
Abstract
Purpose
The purpose of this study is to provide new insights into the relationship between fiscal policy and total factor productivity (TFP) while accounting for several economic and econometric issues of the phenomenon like non-stationarity, fiscal feedback effects, persistence in productivity, country heterogeneity and unobserved global shocks and local spillovers affecting heterogeneously the countries in the sample.
Design/methodology/approach
The paper is empirical. It builds an Error Correction Model (ECM) specification within a dynamic heterogeneous framework with common correlated effects and models both reverse causality and feedback effects.
Findings
The results of this study highlight some new findings relative to the existing related literature. The outcomes suggest some relevant evidence at both the academic and policy levels: (1) the causal effects going from fiscal deficit/surplus to TFP are heterogeneous across countries; (2) the effects depend on the time horizon considered; (3) the long-run dynamics of TFP are positively impacted by improvements in fiscal budget, but only if the austerity measures do not exert slowdowns in aggregate growth.
Originality/value
The main originality of this study is methodological, with possible extensions to related phenomena. Relative to the existing literature, the gains of this study rely on the way econometric techniques, recently proposed in the literature, are adapted to the economic relationship of interest. The endogeneity due to the existence of reverse causality is modelled without implying relevant performance losses of the models. Moreover, this is the first article that questions whether the effects of fiscal budget on productivity depend on the impact of the former on aggregate output growth, thus emphasising the importance of the quality of fiscal adjustments.
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Yong Wang, Tianze Tang, Weiyi Zhang, Zhen Sun and Qiaoqin Xiong
In this paper, the authors study the effect of consumers' fairness preferences on dynamic pricing strategies adopted by platforms in a non-cooperative game.
Abstract
Purpose
In this paper, the authors study the effect of consumers' fairness preferences on dynamic pricing strategies adopted by platforms in a non-cooperative game.
Design/methodology/approach
This study applies fair game and repeated game theory.
Findings
This study reveals that, in a one-shot game, if consumers have fairness preferences, dynamic prices will slightly decline. In a repeated game, dynamic prices will be reduced even when consumers do not have fairness preferences. When fairness preferences and repeated game are considered simultaneously, dynamic prices are most likely to be set at fair prices. The authors also discuss the effect of platforms' discounting factors, the consumers' income and alternative choices of consumption on the dynamic prices.
Research limitations/implications
The study findings illustrate the importance of incorporating behavioral elements in understanding and designing the dynamic pricing strategies for platforms and the implications on social welfare in general.
Originality/value
The authors developed a theoretical model to incorporate consumers' fairness preference into the decision-making process of platforms when they design the dynamic pricing strategies.
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Mamdouh Abdelmoula Mohamed Abdelsalam
This paper aims to explore the extreme effect of crude oil price fluctuations and its volatility on the economic growth of Middle East and North Africa (MENA) countries. It also…
Abstract
Purpose
This paper aims to explore the extreme effect of crude oil price fluctuations and its volatility on the economic growth of Middle East and North Africa (MENA) countries. It also investigates the asymmetric and dynamic relationship between oil price and economic growth. Further, a separate analysis for each MENA oil-export and oil-import countries is conducted. Furthermore, it studies to what extent the quality of institutions will change the effect of oil price fluctuations on economic growth.
Design/methodology/approach
As the effect of oil price fluctuations is not the same over different business cycles or oil price levels, the paper uses a panel quantile regression approach with other linear models such as fixed effects, random effects and panel generalized method of moments. The panel quantile methodology is an extension of traditional linear models and it has the advantage of exploring the relationship over the different quantiles of the whole distribution.
Findings
The paper can summarize results as following: changes in oil price and its volatility have an opposite effect for each oil-export and oil-import countries; for the former, changes in oil prices have a positive impact but the volatility a negative effect. While for the latter, changes in oil prices have a negative effect but volatility a positive effect. Further, the impact of oil price changes and their uncertainty are different across different quantiles. Furthermore, there is evidence about the asymmetric effect of the oil price changes on economic growth. Finally, accounting for institutional quality led to a reduction in the impact of oil price changes on economic growth.
Originality/value
The study concludes more detailed results on the impact of oil prices on gross domestic product growth. Thus, it can be used as a decision-support tool for policymakers.
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Charles Martinez, Christopher N. Boyer, Tun-Hsiang Yu, S. Aaron Smith and Adam Rabinowitz
The authors examined the impact of the Market Facilitation Program (MFP) and Coronavirus Food Assistance Program (CFAP) payments to United States agricultural producers on…
Abstract
Purpose
The authors examined the impact of the Market Facilitation Program (MFP) and Coronavirus Food Assistance Program (CFAP) payments to United States agricultural producers on non-real estate agricultural loans.
Design/methodology/approach
The authors used quarterly, state-level commercial bank data from 2016–2020 to estimate dynamic panel models.
Findings
The authors found MFP and CFAP payments not associated with the percentage of non-real estate agricultural loans with payments over 90 days late. However, these payments associated with the percentage of non-real estate agricultural loans with payments between 30 and 89 days late. The available data utilized cannot consider when producers received the actual payment and what they specifically did with those funds.
Originality/value
The contribution of this study is for US policymakers and agricultural lenders. The findings could be helpful in designing and implementing future ad hoc payment programs and provide an understanding of potential shortcomings of the current safety net for agricultural producers in the Farm Bill. Additionally, findings can assist agricultural lenders in predicting the impact of ad hoc payments on their distressed loan portfolios.
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Anna Białek-Jaworska, Agnieszka Teterycz, Ricardo Sichel and Michał Woźniak
This paper aims to verify how the intellectual property (IP) box affects firms’ effective tax rate, growth and innovation activity outcomes related to intellectual property rights.
Abstract
Purpose
This paper aims to verify how the intellectual property (IP) box affects firms’ effective tax rate, growth and innovation activity outcomes related to intellectual property rights.
Design/methodology/approach
Implementing the innovation box regimes into the tax system intends to encourage firms to engage in more innovative activities. In UK, Italy and Poland, the IP box tax relief was introduced in 2013, 2015 and 2019, respectively. In return, companies may reduce their tax rate to increase their investment and innovativeness. With a panel model approach – system GMM and DiD with multiple time periods – it analyses data from the Orbis database for 2011–2019 of 673 firms from the gaming industry in 11 countries and hand-collected data on intellectual property rights protection. The authors study public and private companies from the gaming sector in leading European markets and all three countries that protect intellectual property rights of software (Japan, South Korea, the USA).
Findings
Recent reforms enable gaming companies to use preferential tax treatment for IP-related income and significantly impact a firm’s revenue growth.
Practical implications
Nevertheless, European gaming firms require time to leap the gap to the growth and innovativeness of countries that protect software.
Originality/value
The authors show that the IP box stimulates gaming firms to protect IP via wordmarks, figurative marks, trademarks and software patents that bring effects in five years. Despite the critics against IP box, the authors prove its lagged efficiency, especially in profitable and larger firms.
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Billy Prananta and Constantinos Alexiou
The authors explore the relationship between the exchange rate, bond yield and the stock market as well as the effect of capital market dynamics on the exchange rate before and…
Abstract
Purpose
The authors explore the relationship between the exchange rate, bond yield and the stock market as well as the effect of capital market dynamics on the exchange rate before and during the COVID-19 pandemic.
Design/methodology/approach
The authors employ a non-linear autoregressive distributed lag (NARDL) methodology using daily data of the Indonesian economy over the period 2012–2021.
Findings
Whilst, over the full sample period, the authors find no cointegration between the exchange rate, the 10-year bond yield and stock market, for the COVID-19 period, evidence of cointegration is present. Furthermore, the results suggest that asymmetric effects are evident both in the short as well as the long run.
Originality/value
To the best of the authors’ knowledge, this is the first time that the relationship between the exchange rate, bond yield and the stock market as well as the effect of capital market dynamics on the exchange rate before and during the COVID-19 pandemic has been explored in the case of the Indonesian economy.
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Achraf Ghorbel, Sahar Loukil and Walid Bahloul
This paper analyzes the connectedness with network among the major cryptocurrencies, the G7 stock indexes and the gold price over the coronavirus disease 2019 (COVID-19) pandemic…
Abstract
Purpose
This paper analyzes the connectedness with network among the major cryptocurrencies, the G7 stock indexes and the gold price over the coronavirus disease 2019 (COVID-19) pandemic period, in 2020.
Design/methodology/approach
This study used a multivariate approach proposed by Diebold and Yilmaz (2009, 2012 and 2014).
Findings
For a stock index portfolio, the results of static connectedness showed a higher independence between the stock markets during the COVID-19 crisis. It is worth noting that in general, cryptocurrencies are diversifiers for a stock index portfolio, which enable to reduce volatility especially in the crisis period. Dynamic connectedness results do not significantly differ from those of the static connectedness, the authors just mention that the Bitcoin Gold becomes a net receiver. The scope of connectedness was maintained after the shock for most of the cryptocurrencies, except for the Dash and the Bitcoin Gold, which joined a previous level. In fact, the Bitcoin has always been the biggest net transmitter of volatility connectedness or spillovers during the crisis period. Maker is the biggest net-receiver of volatility from the global system. As for gold, the authors notice that it has remained a net receiver with a significant increase in the network reception during the crisis period, which confirms its safe haven.
Originality/value
Overall, the authors conclude that connectedness is shown to be conditional on the extent of economic and financial uncertainties marked by the propagation of the coronavirus while the Bitcoin Gold and Litecoin are the least receivers, leading to the conclusion that they can be diversifiers.
研究目的
本文分析於2020年2019冠狀病毒病肆虐期間、主要的加密貨幣、七國集團 (G7) 股價指數與黃金價格三者之間在網絡上的連通性。
研究設計/方法/理念
分析使用迪博爾德和耶爾馬茲 (Diebold and Yilmaz (2009, 2012, 2014)) 提出的多變量分析法。
研究結果
就一個股票指數投資組合而言,靜態連結的結果顯示、在2019冠狀病毒病肆虐期間,股票市場之間有更高的獨立性。值得我們注意的是:一般來說,加密貨幣在股票指數投資組合起著多元化投資作用,這可減低不穩定性,尤其是在危機時期。動態連結的結果與靜態連結的結果沒有顯著的分別。我們剛提到、比特幣黃金已成為純接收者。除了處於先前水平的達世幣和比特幣黃金外,就大部分的加密貨幣而言,連通的範圍在衝擊後都得以維持。事實上,在這危機時期,比特幣一直是波動性連結或溢出的最大淨傳播者。掛單者 (Maker) 是從全球系統中出現的最大波動淨接收者。至於黃金,我們注意到在危機時期、它仍然是在網絡接收方面擁有顯著增長的淨接收者,這確認其為安全的避難所。
研究的原創性/價值
總的來說,我們的結論是:連通性被確認為取決於標誌著受廣泛傳播的冠狀病毒影響下的經濟和金融欠缺穩定的程度,而比特幣黃金和萊特幣則是最小的接收者,這帶出一個結論、就是:比特幣黃金和萊特幣、可以成為多元化投資項目。
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Sanna Joensuu-Salo, Anmari Viljamaa and Emilia Kangas
This paper aims to examine the growth rates of small- and medium-sized enterprises (SMEs) over a three-year period, the relationship between firm size and firm growth in the…
Abstract
Purpose
This paper aims to examine the growth rates of small- and medium-sized enterprises (SMEs) over a three-year period, the relationship between firm size and firm growth in the context of SMEs, and the effect of marketing capability (MC) on firm growth and how it relates to firm size. The theoretical framework is based on the resource-based view and dynamic capabilities.
Design/methodology/approach
Data were gathered from Finnish SMEs (n = 214) and analyzed with Latent growth curve modeling (structural equation modeling). Respondents were chief executive officers or company owners.
Findings
Results show that firm size is unrelated to the rate of change, and MC has a significant effect on both the intercept and slope parameters. Smaller SMEs have less MC than larger SMEs.
Practical implications
While the overall human resources level of the SME is not linked to the rate of growth, MC is. This is an important point for small business growth studies, for it shows what type of personnel is called for during rapid growth. SMEs could advance significantly and rapidly if they invest in versatile human capital, especially in the marketing area.
Originality/value
Majority of the MC research involves larger corporations. This study brings new insights from SME perspective. In addition, this study suggests that it is imperative to consider different types of growth separately. This study contributes to this need by demonstrating the connection between employee growth rate and MC in SMEs.
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