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We propose a risk factor for idiosyncratic entropy and explore the relationship between this factor and expected stock returns.

We estimate a cross-sectional model of expected entropy that uses several common risk factors to predict idiosyncratic entropy.

We find a negative relationship between expected idiosyncratic entropy and returns. Specifically, the Carhart alpha of a low expected entropy portfolio exceeds the alpha of a high expected entropy portfolio by −2.37% per month. We also find a negative and significant price of expected idiosyncratic entropy risk using the Fama-MacBeth cross-sectional regressions. Interestingly, expected entropy helps us explain the idiosyncratic volatility puzzle that stocks with high idiosyncratic volatility earn low expected returns.

We propose a risk factor of idiosyncratic entropy and explore the relationship between this factor and expected stock returns. Interestingly, expected entropy helps us explain the idiosyncratic volatility puzzle that stocks with high idiosyncratic volatility earn low expected returns.

Entrepreneurs prioritise and act on purposeful endeavours instigated to actions by the visions of profits and benefits in the perceived opportunities. In the state of maximum entropy, with disorderliness and disequilibrium, entrepreneurs select the preferred pathway, through the profit-sensing mechanism, with the best probability of success to bet on. Therefore, this paper unpacks the forces at work in the mechanism to explain how entrepreneurs respond to opportunity and interpret the signals to coalesce into organised actions.

This research is primarily a conceptual paper on entrepreneurial action and the mechanism leading to that action. It refers to thermodynamic principles and biological cases to explain the forces at work using mostly analogical comparisons and similarities.

This paper aims to present an alternative theoretical scaffolding for entrepreneurship researchers to explore non-rational entrepreneurial behaviours and actions in uncertain, unstable and non-equilibrium environments, thereby creating new and competing hypotheses under the backdrop of adaptive evolution and thermodynamics phenomena.

The discussion featuring instinctively and naturally forming responses cannot fully explain the real entrepreneurial action as there is an element of free will and choices that are not discussed. While strategic choice and free-will shape decisions, they are preceded first by the attraction of the gradients and the biased motion in the direction of profit-attractant.

There remain essential links and issues not addressed in this “natural science”, constituting life science and physical science, oriented entrepreneurship research and exploration. Conceptualising opportunity-as-artefact and entrepreneurship as design, significant incidences of entrepreneurial actions can be explained by the presence of gradients stimulating entrepreneurial actions.

This viewpoint of information causality in opportunity-as-artefact casts a new look at the venerable question of what causes entrepreneurial actions. Shane and Venkataraman brought into focus this conversation, initiating the conceptual definition of opportunity. To have entrepreneurship, entrepreneurial opportunities must come first. Figuring the signals arising from these opportunities and cueing entrepreneurs to action is the main focus of this study.

Considering the “mechanism” at work and the thermodynamical forces at play, the entrepreneurial design process appears to hold considerable promise for future research development.

This study aims to examine the potential of Information Ethics (IE) to serve as a coherent ethical foundation for the library and information science profession (LIS profession).

This study consists of two parts: the first part present IE’s central theses and the main critiques it has received; the second part offers the authors' own evaluation of the theory from the LIS perspective in two steps: (1) assessing its internal consistency by testing its major theses against each other; (2) assessing its utility for resolving frequently debated LIS ethical dilemmas by comparing its solutions with solutions from other ethical theories.

This study finds that IE, consisting of an informational ontology, a fundamental ethical assertion and a series of moral laws, forms a coherent ethical framework and holds promising potential to serve as a theoretical foundation for LIS ethical issues; its inclusion of nonhuman objects as moral patients and its levels of abstraction mechanism proved to be particularly relevant for the LIS profession. This study also shows that, to become more solid an ethical theory, IE needs to resolve some of its internal contradictions and ambiguities, particularly its conceptual conflations between internal correctness, rightness and goodness; between destruction, entropy and evil; and the discrepancy between its deontological ethical assertion and its utilitarian moral laws.

This study alerts LIS professionals to the possibility of having a coherent ethical foundation and the potential of IE in this regard.

This study provides a systemic explication, evaluation and field test of IE from the LIS perspective.

This paper aims to study numerically the flow, heat transfer, and entropy generation of aqueous copper oxide-silver hybrid nanofluid over a down-pointing rotating vertical cone, with linear surface temperature (LST) and linear surface heat flux (LSHF), in the presence of a cross-magnetic field. In industrial applications, such as oil and gas plants, food industries, steel factories and nuclear packages, the real bodies may contain nonorthogonal walls and variable cross-section three-dimensional forms which this issue can clarify the importance of selective geometry in the present research.

The mass-based scheme is accomplished for the simulation, and the entropy generation and Bejan number will be analyzed in conjunction with the aforementioned model. It has been hypothesized that two types of boundary conditions (LST and LSHF) as well as five nanoparticle shapes (sphere, brick, cylinder, platelet and disk) present a collection of crucial results. The overseeing PDEs are changed over completely to the dimensionless ODEs, and these are solved by Runge–Kutta–Fehlberg approach combined with a shooting methodology for certain values of physical parameters.

Subsequent to the fantastic compromise of the computational outcomes with past reports, the outcomes are introduced to conduct the investigation of the hydrodynamics/thermal boundary layers, the skin friction and the Nusselt number, as well as entropy generation and Bejan number. A state of hybrid nanofluid, which exhibits a remarkable increase in heat transfer in comparison to the states of mono-nanofluid and regular fluid, has been found to have the highest Nusselt number; however, the skin friction values should always be taken into account and managed. The entropy generation improves with the mass of the second nanoparticle (silver), while the opposite pattern is exhibited for the Bejan number. Furthermore, the lowest value of entropy generation number belongs to the cylindrical shape of nanoparticles in the LST case. In final, a significant accomplishment of the current study is the accurate output of the mass-based scheme for an entropy analysis problem.

To the best of the authors’ knowledge, for the first time, in this study, a new development of natural convective flow of a hybrid nanofluid about the warmed (LST and LSHF) and down-pointing rotating vertical cone by the mass-based algorithm has been presented. The applied methodology considers the masses of base fluid (water) and nanoparticles (Ag and CuO) as an alternative to the first and second nanoparticles volume fraction. Indeed, the combination use of the Tiwari–Das nanofluid model and the mass-based hybridity algorithm for the entropy generation analysis can be the main novelty of this work.

Once introduced and conceptualized as a factor that causes erosion and decay of social institutions and subsequent deinstitutionalization, the notion of entropy is at odds with predictions of institutional isomorphism and seems to directly contradict the tendency toward ever-increasing institutionalization. The purpose of this paper is to offer a resolution of this theoretical inconsistency by revisiting the meaning of entropy and reconceptualizing institutionalization from an information-theoretic point of view.

It is a theoretical paper that offers an information perspective on institutionalization.

A mistaken understanding of the nature and role of entropy in the institutional theory is caused by conceptualizing it as a force that counteracts institutional tendencies and acts in opposite direction. Once institutionalization and homogeneity are seen as a product of natural tendencies in the organizational field, the role of entropy becomes clear. Entropy manifests itself at the level of information processing and corresponds with increasing uncertainty and the decrease of the value of information. Institutionalization thus can be seen as a special case of an increase in entropy and a decrease of knowledge. Institutionalization is a state of maximum entropy.

It is explained why institutionalization and institutional persistence are what to be expected in the long run and why information entropy contributes to this tendency. Contrary to the tenets of the institutional work perspective, no intentional efforts of individuals and collective actors are needed to maintain institutions. In this respect, the paper contributes to the view of institutional theory as a theory of self-organization.

The purpose of this paper is to study haemodynamic flow characteristics and entropy analysis in a bifurcated artery system subjected to stenosis, magnetohydrodynamic (MHD) flow and aneurysm conditions. The findings of this study offer significant insights into the intricate interplay encompassing electro-osmosis, MHD flow, microorganisms, Joule heating and the ternary hybrid nanofluid.

The governing equations are first non-dimensionalised, and subsequently, a coordinate transformation is used to regularise the irregular boundaries. The discretisation of the governing equations is accomplished by using the Crank–Nicolson scheme. Furthermore, the tri-diagonal matrix algorithm is applied to solve the resulting matrix arising from the discretisation.

The investigation reveals that the velocity profile experiences enhancement with an increase in the Debye–Hückel parameter, whereas the magnetic field parameter exhibits the opposite effect, reducing the velocity profile. A comparative study demonstrates the velocity distribution in Au-CuO hybrid nanofluid and Au-CuO-GO ternary hybrid nanofluid. The results indicate a notable enhancement in velocity for the ternary hybrid nanofluid compared to the hybrid nanofluids. Moreover, an increase in the Brinkmann number results in an augmentation in entropy generation.

This study investigates the flow characteristics and entropy analysis in a bifurcated artery system subjected to stenosis, MHD flow and aneurysm conditions. The governing equations are non-dimensionalised, and a coordinate transformation is applied to regularise the irregular boundaries. The Crank–Nicolson scheme is used to model blood flow in the presence of a ternary hybrid nanofluid (Au-CuO-GO/blood) within the arterial domain. The findings shed light on the complex interactions involving stenosis, MHD flow, aneurysms, Joule heating and the ternary hybrid nanofluid. The results indicate a decrease in the wall shear stress (WSS) profile with increasing stenosis size. The MHD effects are observed to influence the velocity distribution, as the velocity profile exhibits a declining nature with an increase in the Hartmann number. In addition, entropy generation increases with an enhancement in the Brinkmann number. This research contributes to understanding fluid dynamics and heat transfer mechanisms in bifurcated arteries, providing valuable insights for diagnosing and treating cardiovascular diseases.

The purpose of this study is to determine the impact of two-phase power law nanofluid on a curved arterial blood flow under the presence of ovelapped stenosis. Over the past couple of decades, the percentage of deaths associated with blood vessel diseases has risen sharply to nearly one third of all fatalities. For vascular disease to be stopped in its tracks, it is essential to understand the vascular geometry and blood flow within the artery. In recent scenarios, because of higher thermal properties and the ability to move across stenosis and tumor cells, nanoparticles are becoming a more common and effective approach in treating cardiovascular diseases and cancer cells.

The present mathematical study investigates the blood flow behavior in the overlapped stenosed curved artery with cylinder shape catheter. The induced magnetic field and entropy generation for blood flow in the presence of a heat source, magnetic field and nanoparticle (Fe₃O₄) have been analyzed numerically. Blood is considered in artery as two-phases: core and plasma region. Power-law fluid has been considered for core region fluid, whereas Newtonian fluid is considered in the plasma region. Strongly implicit Stone’s method has been considered to solve the system of nonlinear partial differential equations (PDE’s) with 10–6 tolerance error.

The influence of various parameters has been discussed graphically. This study concludes that arterial curvature increases the probability of atherosclerosis deposition, while using an external heating source flow temperature and entropy production. In addition, if the thermal treatment procedure is carried out inside a magnetic field, it will aid in controlling blood flow velocity.

The findings of this computational analysis hold great significance for clinical researchers and biologists, as they offer the ability to anticipate the occurrence of endothelial cell injury and plaque accumulation in curved arteries with specific wall shear stress patterns. Consequently, these insights may contribute to the potential alleviation of the severity of these illnesses. Furthermore, the application of nanoparticles and external heat sources in the discipline of blood circulation has potential in the medically healing of illness conditions such as stenosis, cancer cells and muscular discomfort through the usage of beneficial effects.

The purpose of this paper is to show that transmission of information and information storage or registration depends on structures. Structures emerge from coordinated sets of constraints. Complex systems depend on their structures to function. The temporal sequence of changes in the levels of the complex system determines its behavior. These three concepts are intimately linked with the environment. Environment, structure, function and behavior form a complex system–environment unit, which is the operational unit of existence for all open complex systems. Therefore, it becomes a point in the directional propagation of the cause, where stimulus environment becomes a Creaon, and then the Creaon becomes a Genon, becoming in turn the response to the experienced environment. The formation of structures is the main phenomenon of evolution. Evolution can also be accepted as free, in the sense that it does not cost additional deaths.

Mathematical and logical development of the structure and thermodynamics in complex systems.

Based on the above considerations, the authors are going to introduce two fundamental principles in Complex systems Theory: the Matthew Effect and the Principle of Sagan.

But as the authors’ purpose is to give a formal definition of a complex system from a totally theoretical point of view, they establish a relationship between concepts of General Systems Theory, Theory of the Environment, linguistics, Information Theory and thermodynamics.

A porous cavity flow field generates entropy owing to energy and momentum exchange within the fluid and at solid barriers. The heat transport and viscosity effects on fluid and solid walls irreversibly generate entropy. This numerical study aims to investigate convective heat transfer together with entropy generation in a partially heated wavy porous cavity filled with a hybrid nanofluid.

The governing equations are nondimensionalized and the domain is transformed into a unit square. A second-order finite difference method is used to have numerical solutions to nondimensional unknowns such as stream function and temperature. This numerical computation is conducted to explore a wide range of regulating parameters, e.g. hybrid nano-particle volume fraction (σ = 0.1%, 0.33%, 0.75%, 1%, 2%), Rayleigh–Darcy number (Ra = 10, 10², 10³), dimensionless length of the heat source (ϵ = 0.25, 0.50,1.0) and amplitude of the wave (a = 0.05, 0.10, 0.15) for a number of undulations (N = 1, 3) per unit length.

A thorough analysis is conducted to analyze the effect of multiple factors such as thermal convective forces, heat source, surface corrugation factors, nanofluid volume fraction and other parameters on entropy generation. The flow and temperature fields are studied through streamlines and isotherms. The average Bejan number suggested that entropy generation is entirely dominated by irreversibility due to heat transport at Ra = 10, and the irreversibility due to the viscosity effect is severe at Ra = 10³, but the increment in s augments irreversibility due to the viscosity effect over the heat transport at Ra = 10².

To the best of the authors’ knowledge, this numerical study, for the first time, analyzes the influence of surface corrugation on the entropy generation related to the cooling of a partial heat source by the convection of a hybrid nanofluid.

Nonlinear mixed-convective entropy optimized the flow of hyperbolic-tangent nanofluid (HTN) with magnetohydrodynamics (MHD) process is considered over a vertical slendering surface. The impression of activation energy is incorporated in the modeling with the significance of nonlinear radiation, dissipative-function, heat generation/consumption connection and Joule heating. Research in this area has practical applications in the design of efficient heat exchangers, thermal management systems or nanomaterial-based devices.

Suitable set of variables is introduced to transform the PDEs (Partial differential equations) system into required ODEs (Ordinary differential equations) system. The transformed ODEs system is then solved numerically via finite difference method. Graphical artworks are made to predict the control of applicable transport parameters on surface entropy, Bejan number, Sherwood number, skin-friction, Nusselt number, temperature, velocity and concentration fields.

It is noticed from present numerical examination that Bejan number aggravates for improved estimations of concentration-difference parameter a_2, Eckert number E_c, thermal ratio parameter ?_w and radiation parameter R_d, whereas surface entropy condenses for flow performance index n, temperature-difference parameter a_1, thermodiffusion parameter N_t and mixed convection parameter ?. Sherwood number is enriched with the amplification of pedesis-motion parameter N_b, while opposite development is perceived for thermodiffusion parameter. Lastly, outcomes are matched with formerly published data to authenticate the present numerical investigation.

To the best of the authors' knowledge, no investigation has been reported yet that explains the entropic behavior with activation energy in the flowing of hyperbolic-tangent mixed-convective nanomaterial due to a vertical slendering surface.