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Better work can be accomplished through team and organisational activity if people are given an opportunity to develop their own skills and approaches to working together. This report on team‐building in Egypt is offered as one approach to development. The critical need is for managers to build teamwork and share responsibilities to face world problems effectively, management development being the first step in human resource development, which is the essential step in world development.

Making law in America is not a simple task. It can be legislated by Congress, enforced by the executive, interpreted by the courts, and augmented by a massive body of rules created by administrative agencies such as the Securities and Exchange Commission (SEC). The Dodd-Frank Wall Street Reform and Consumer Protection Act (2010) (Dodd-Frank was passed) with an eye to preventing future financial crises. Four years later, many details of Dodd-Frank have yet to be finalized as the SEC is still in the process of developing the regulations that the legislation required them to create. Even once the regulations are finalized by the SEC, the regulations will be challenged by various parties in the courts. The regulations will be either upheld or rejected. Those that are upheld will then face numerous challenges when applied in specific cases, while those rejected will have to be redone all over again. The process of developing these regulations is cumbersome and attracts many of the special interests that were present in the legislative phase of Dodd-Frank and who will also be present in the litigation phases of testing Dodd-Frank in the courts. This paper focuses on the requirement that investment advisors and broker-dealers be deemed as owing fiduciary duties to their clients as a case study for the entangled political economy theory. The paper shows how the development of a simple rule such as whether these fiduciary duties should be owed or not requires years of back and forth between the legislative, executive, administrative, and judicial branches.

In this short chapter, we seek to begin to understand what it might mean to ‘interrupt the legal person’. We do this in two parts. In the first part, we begin with the phrase itself and interrogate its components. Interrogating these components leads us to think of the legal person as a technical and grammatical question that varies across different legal traditions and jurisdictions, i.e., across different ways of living and speaking law (recall that juris-diction says to speak the law). In the second part, we briefly explore four versions or declinations of interruptions, each corresponding to a different kind of juris-diction or legal tradition. We see this chapter as itself a friendly interruption in (or of) a broad and rich conversation so as to encourage ourselves to be struck again by some things we may take for granted.

Commercial auctions of cultural goods are typically brokerage arrangements where potential buyers may consider pre-sale estimates (PSEs) in bidding. The economic theory suggests that PSEs should provide honest guidance – winning bids should, on average, equal PSEs – but available research from fine art and antique auctions finds otherwise. The authors examine this relationship for commercial auctions of fine wine – items which, unlike fine art and antiques, are widely traded so that bidders may more knowledgably interpret PSEs.

The paper examines the relationship of PSEs to winning bids econometrically for an iconic wine widely traded in several Chicago wine auctions, a novel setting for this analysis.

The relationship of winning bids to PSEs differs significantly between two neighboring auction houses, perhaps reflecting differences in how they do business; neither’s PSEs have a straightforward relationship to winning bids; PSEs have an influence on winning bids independent of a lot’s characteristics, reflecting perhaps an anchoring effect; the analysis suggests broad bidding strategies (with counter-strategies implied) and might guide auction house lot selection and ownership if more complete data became available.

The role and reliability of PSEs in auctions of other cultural goods, representing most of the literature, has limited application to auctions of fine wine whose markets differ categorically from those of other cultural goods.

The purpose of the study is to evaluate Cr-Mn ASS weld using different heat inputs for its microstructure, mechanical properties and electrochemical behavior. The microstructural examination used optical and scanning electron microscopy. It was observed that ferrite content decreases with increasing heat input. The length of dendrites, inter-dendritic space and volume of lathy ferrite increase with increasing heat input. The increasing heat input caused grain coarsening near the fusion boundary and produced wider heat-affected zone (HAZ). It also decreases hardness and tensile strength. This is attributed to formation of more δ ferrite in the weld. The electrochemical evaluation suggested that the δ ferrite helps in improving the pitting potential in 3.5 per cent NaCl solution saturated with CO₂. Whereas in 0.5-M H2SO4 + 0.003-M NaF solution, higher passivation current density was observed because of dissolution of dferrite. The interphase corrosion resistance decreased with increasing heat input.

The Cr-Mn austenitic stainless steel or low-nickel ASS was procured in form of 3-mm sheets in rolled condition. The tungsten inert gas welding was performed at three different heat inputs (100 A, 120 A and 140 A), argon as shielding gas with a flow rate of 15 L/min. Different welded regions were observed using optical microscope and scanning electron microscope. Electrochemicals test were performed in solutions containing 3.5 per cent NaCl with saturated CO₂ solution and 0.5 M sulfuric acid + 0.003 M NaF at a scan rate of 0.1667 mV/s at room temperature (30 °C ± 1 °C) using a potentiostat.

The test steel Cr-Mn ASS is suitable with the selected electrode (308 L) and it produces no defects. Vermicular ferrite and lathy ferrite form in welds of various heat inputs. The increase in heat input reduces the formation of lathy ferrite. The width of HAZ and un-mixed zone increases with increase in heat input. The weld zone of low heat input (LHI) has the highest hardness and tensile strength because of higher δ ferrite content and small grain size in the weld zone. The hardness at high heat input (HHI) is found to be lowest because of grain coarsening in the weld. With increase in δ ferrite, the pitting resistance increases. In 0.5-M sulfuric acid + 0.003-M NaF, the increase in ferrite content reduces the passivation current density. Interphase corrosion resistance increases with increase in δ ferrite content as higher per cent degree of sensitization was observed in LHI welds as compared to medium heat input and HHI welds.

This work focuses on welding of ASS by tungsten inert gas welding at different heat inputs. Welding is a critical process for joining metals in most of the fabrication industries and proper heat input is required for getting desired microstructure in the weld metal. This would highly affect the strength and corrosion behavior of the alloy. This paper would give an understanding of how the change in heat input by tungsten inert gas welding affects the microstructural and corrosion behavior in the weld metal.

This paper aims to investigate whether Kazakh small- and medium-sized enterprises (SMEs) that claim to compete with the informal sector are more likely to invest in innovation than their competitors who do not perceive such pressure.

Logistic regression and classification trees are performed on the Business Environment and Enterprise Performance Survey (2018–2020) to examine whether the degree of informal competition correlates with a firm's propensity to innovate.

The findings show that informal sector competition is a critical factor that shapes the organizational behaviour of Kazakh SMEs. There is a stimulating positive effect of informal competition on both product and process innovation, depending on its perceived intensity.

This study challenges conventional thinking that still views informal sector competition as a barrier to innovation and entrepreneurship by assessing whether innovation is compatible with informal entrepreneurial practice.

Even though there is neither case law nor policy negating the concept of the maximisation of shareholders' profits, the ‘schizophrenia’ of the legal conception of the corporation (Allen 1992), and the incertitude that stems from this, justify a new definition of the ‘best interests of the corporation’. Doubt is accentuated by the statutes of American companies, called non-shareholder constituency statutes, which refer to ‘best interests’ in the assessment of corporation director duties. Indeed, nearly half of U.S. states have adopted ‘constituency statutes’ which allow the board of directors to take into account the interests of non-shareholders when making decisions (Mitchell, 1992; Orts, 1992).⁷

The purpose of this paper is to investigate the extent to which financial behavior and financial well-being are affected by cognitive and non-cognitive factors in a specific Romanian post-communist context. This study shows that financial well-being is significantly linked to both financial education and to a set of non-cognitive factors. This paper offers strategic insights on what financial services should communicate to consumers and how they should be communicated, achieve the mutual benefits of the transformative paradigm.

This study uses an online sample of 1,602 participants, representative of the general population in Romania concerning income and education, to collect data on financial anxiety, financial security and financial saving behavior (dependent variables), self-control, optimism, future orientation, deliberative thinking and financial literacy (independent variables). This paper measures the latent constructs – as composite indices, using partial least squares – path modeling. Working with WarpPLS software version 6.0 allows exploration of both linear and non-linear relationships involved in the model, along with their practical and managerial implications.

The results indicate that the key component to address in the development of financial services (in the post-soviet context) is financial anxiety. This study finds that, in contrast to Western countries, in Central, Eastern and Southeastern Europe (CESEE), financial education is not always a panacea. Additionally, financial security is not always the most important goal for consumers.

This paper suggests managerial recommendations for redefining the relationship between banks and the Romanian population, focused mainly on diminishing financial anxiety and increasing financial security, as key elements of transformative financial services.

The study highlights the significant role played by behavioral variables in shaping financial well-being in Romania, being among the very few investigations illustrating the relevance of the topic in post-communist countries. This research shows unique challenges for the design of transformative financial services in a specific (post-communist) setting and provides insights on how financial services marketing can become more effective in the CESEE region.

The paper aims to investigate the feasibility of developing natural dyes from the barks of Araucaria columnaris and leaves of Macaranga peltata, Averrhoa bilimbi. The paper also deals with the application of natural dyes in textile coloration.

Dye extraction was carried out using the aqueous method. The dyeability of the aqueous extract was assessed on cotton, silk and polyester yarns using different mordants (alum, acetic acid, CuSO₄, lemon juice) and without mordant. UV–Visible spectral analysis and pH of different natural dyes were determined. Percent absorption, K/S values, CIELab values and fastness properties of the selected dyed yarns were also assessed.

The percentage values for dye exhaustion differed with various mordants. The K/S values were found to be influenced by the addition of mordants. Different hues were obtained with the usage of different mordants. Fastness results exhibited good to very good grades.

The effective application of aqueous method of dye extraction in the study avoids solvent toxicity. The current results proved that the dyeing could be achieved at room temperature for different yarns (cotton, silk, polyester). At present, no report exists in the literature of research work on the extraction of natural dyes from the leaves of M. peltata, A. bilimbi and their dyeing potential on cotton, silk and polyester.

The present work offers new environment-friendly dye as well as simple dyeing method. Barks and leaves are promising sources of dye. Enormous availability of barks and leaves avoids the exploitation of the plant parts for the extraction of natural dyes.

The important feature of this study was the effective dyeing of natural and synthetic fibers at room temperature. The novel sources of natural dyes would contribute significantly to the existing knowledge of dyeing, and the natural dyes reduce the environmental impact of synthetic dyes.

Interturn winding faults, one of the most important causes of power transformers failures, cannot be detected by existing detection methods until they develop into high‐level faults with more severe damage to the transformer. The purpose of this paper is to describe development of a new discrete wavelet transform (DWT) based approach for detection of winding interturn faults.

The following approach was accomplished for development of the proposed fault detection method in this study. The DWT was first applied to decompose the terminal current signals of a transformer, which in turn were obtained from simulations using a finite elements method model of the transformer, into a series of wavelet components. Based on the characteristic features associated with interturn faults extracted from the decomposed waveforms of the terminal currents, a detection scheme was developed. An experimental setup was used to validate the proposed detection method.

The results of this study demonstrate the efficacy of DWT applied on terminal currents of the transformer to identify interturn faults on the windings well before such faults lead to a catastrophic failure. It is believed that, based on the present findings, there definitely exists scope for improving interturn fault diagnosis with wavelet transform.

Performing more detailed studies to find all relevant characteristics of the wavelet transform in this application, identifying the location of the faulted turns along winding, applying the method for indicating early stages of turn insulation deterioration and evaluating other type of wavelets for this application would be some future directions of this research.

With the proposed method, it is becoming possible to detect early signs of the fault occurrence, so that the necessary corrective actions can be taken to prevent long‐lasting outages and reduce down times of the faulty power transformer. The method will be particularly useful as a complement for the classical protection devices of the power transformers.

Some recent studies have been carried out regarding the application of DWT for discrimination between an internal fault and other disturbances such as magnetizing inrush and external faults. This paper extends those studies for the detection of interturn faults using more quantitative and qualitative characteristics features.