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Article
Publication date: 9 March 2020

Christina Muhs, Adesola Osinaike and Lorna Thomas

This paper explores the factors motivating people to attend the Dutch hardstyle festival, Defqon.1. This paper delivers new insights to festival attendance by including…

Abstract

Purpose

This paper explores the factors motivating people to attend the Dutch hardstyle festival, Defqon.1. This paper delivers new insights to festival attendance by including social and cultural factors in the motivational dimensions and considering a niche electronic music festival.

Design/methodology/approach

This research utilised qualitative methods to identify and gain detailed information about attendee's visitor motives. Eleven semi-structured in-depth interviews which focus on the influence of intangible features of visitor motivations were conducted.

Findings

The research result revealed an increased influence of social factors and decreased the effect of all other visitor motives. The subcultural ties amongst members of the hardstyle scene were identified as stronger than the ones of different electronic music scenes. The study concluded that social factors, such as friendships gain significant importance for stimulating return visits.

Originality/value

Contemporary music festivals, especially electronic events have not comprehensively been researched. Also, the effects of social and cultural factors on festival attendance have previously been neglected in research. Studies on popular electronic music genres, such as rave and hardcore, are from a sociological viewpoint. These studies revealed motivations of members of the subculture to be a part of the scene and to attend events.

Details

International Journal of Event and Festival Management, vol. 11 no. 2
Type: Research Article
ISSN: 1758-2954

Keywords

Article
Publication date: 29 July 2010

James Kirkbride, Jeremy Coid, Craig Morgan, Paul Fearon, Paola Dazzan, Min Yang, Tuhina Lloyd, Glynn Harrison, Robin Murray and Peter Jones

Genetic and environmental factors are associated with psychosis risk, but the latter present more tangible markers for prevention. We conducted a theoretical exercise to…

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Abstract

Genetic and environmental factors are associated with psychosis risk, but the latter present more tangible markers for prevention. We conducted a theoretical exercise to estimate the proportion of psychotic illnesses that could be prevented if we could identify and remove all factors that lead to increased incidence associated with ethnic minority status and urbanicity. Measures of impact by population density and ethnicity were estimated from incidence rate ratios [IRR] obtained from two methodologically‐similar first episode psychosis studies in four UK centres. Multilevel Poisson regression was used to estimate IRR, controlling for confounders. Population attributable risk fractions [PAR] were estimated for our study population and the population of England. We considered three outcomes; all clinically relevant ICD‐10 psychotic illnesses [F10‐39], non‐affective psychoses [F20‐29] and affective psychoses [F30‐39]. One thousand and twenty‐nine subjects, aged 18‐64, were identified over 2.4 million person‐years. Up to 22% of all psychoses in England (46.9% within our study areas) could be prevented if exposures associated with increased incidence in ethnic minority populations could be removed; this is equivalent to 66.9% within ethnic minority groups themselves. For non‐affective psychoses only, PAR for population density was large and significant (27.5%); joint PAR with ethnicity was 61.7%. Effect sizes for common socio‐environmental risk indicators for psychosis are large; inequalities were marked. This analysis demonstrates potential importance in another light: we need to move beyond current epidemiological approaches to elucidate exact socio‐environmental factors that underpin urbanicity and ethnic minority status as markers of increased risk by incorporating gene‐environment interactions that adopt a multi disciplinary perspective.

Details

Journal of Public Mental Health, vol. 9 no. 2
Type: Research Article
ISSN: 1746-5729

Keywords

Article
Publication date: 17 October 2017

Muhammad Masood Rafi, Abdul Basit Dahar and Tariq Aziz

The purpose of this paper is to present the results of experimental testing of steel rebars at elevated temperatures. Three types of bars available in the local market in…

Abstract

Purpose

The purpose of this paper is to present the results of experimental testing of steel rebars at elevated temperatures. Three types of bars available in the local market in Pakistan were used. These data are not available in Pakistan.

Design/methodology/approach

Three types of bars were used, which included cold-twisted ribbed (CTR), hot-rolled deformed (HRD) and thermo-mechanically treated (TMT) bars. The diameter of the bar of each type was 16 mm. The bars were heated in an electrical furnace at temperatures which were varied from 100°C to 900°C in increment of 100°C. Bars of each type were also tested at ambient temperature as control specimens. The change of strength, strain and modulus of elasticity of the bars at high temperatures were determined.

Findings

The mechanical properties of the bars were nearly unaffected by the temperatures up to 200°C. CTR bars did not show yield plateau and strain hardening both at ambient and high temperatures. The high temperature yield strength and elastic modulus for all the three types of bars were similar at all temperatures. The yield plateau of both the HRD and TMT bars disappeared at temperatures greater than 300°C. The ultimate strength at high temperature of the HRD and TMT bars was also similar. The behaviours of the HRD and TMT bars changed to brittle beyond 400°C as compared to their behaviours at ambient temperature. The CTR bars exhibited ductile characteristics at failure at all the exposure temperatures relative to their behaviour at ambient temperature.

Research limitations/implications

The parameters of the paper included the rebar type and heating temperature and the effects of temperature on strength and stiffness properties of the steel bars.

Practical implications

Building fire incidents have increased in Pakistan. As reinforced concrete (RC) buildings exist in the country in significant numbers, the data related to elevated temperature properties of steel is required. These data are not available in Pakistan presently. The presented paper aims at providing this information for the design engineers to enable them to assess and increase fire resistance of RC structural members.

Originality/value

The presented paper is unique in its nature in that there is no published contribution to date, to the best of authors’ knowledge, which has been carried out to assess the temperature-dependent mechanical properties of steel reinforcing bars available in Pakistan.

Details

Journal of Structural Fire Engineering, vol. 9 no. 3
Type: Research Article
ISSN: 2040-2317

Keywords

Article
Publication date: 23 August 2013

Milagros Vivel‐Búa, Luis Otero‐González, Sara Fernández‐López and Pablo Durán‐Santomil

Using hedging theories, we analyse the variables that determine the decision to hedge with foreign currency debt.

Abstract

Purpose

Using hedging theories, we analyse the variables that determine the decision to hedge with foreign currency debt.

Design/methodology/approach

Using a sample of 100 Spanish companies with a significant social and economic role in Latin American during 2004‐2007, we estimated probit models for panel data.

Findings

Our results showed that the main determinants are scale economies and the use of derivatives. On the one hand, we found that this hedging is positively related to tax loss carry‐forwards and long‐term economic sectors, and on the other, that it is related negatively to information asymmetries and growth opportunities. Results were mixed for foreign currency exposure.

Research limitations/implications

The limitations of this paper are associated to the availability of information from annual reports and the SABI database, especially the variables in relation to operational hedging. Therefore, as a future line of research, we propose gathering of data on these internal hedging practices in order to obtain more accurate evidence about its use in companies and their relationship with financial hedging.

Originality/value

This paper makes three major contributions to the existing literature. First, it contributes by illustrating currency hedging practices used by Spanish firms – which are important in Latin markets – to manage exchange rate exposure in. Second, we used more variables for the empirical analyses to contrast the hedging theories than previous studies had. Finally, we used a data panel because it allows the control of unobservable heterogeneity and endogeneity problems. Previous studies only used cross‐section estimations.

Objetivo

Este trabajo analiza la cobertura cambiaria con deuda en divisa utilizando las teorías de cobertura.

Diseño/metodología/aproximación

Se estimaron modelos probit para datos de panel usando una muestra de 100 empresas españolas con un papel económico‐social relevante en Latinoamérica durante el período 2004‐2007.

Resultados

Los resultados muestran que esta cobertura se relaciona principalmente con las economías de escala y el uso de derivados. Asimismo, existe una relación positiva con la convexidad impositiva y la localización empresarial en sectores orientados al largo plazo, y negativa con las asimetrías informativas y oportunidades de crecimiento. No existe evidencia concluyente para la exposición cambiaria.

Limitaciones de la investigación/implicaciones

La investigación tuvo como limitación la disponibilidad de algunos datos en los informes anuales de las empresas y la base de datos SABI, en especial, aquellos referidos a la cobertura operativa. En consecuencia, una línea de trabajo futura es la mejora de la información sobre esta cobertura, lo cual permitiría aportar mayor evidencia sobre su utilización y su relación con la cobertura financiera.

Originalidad/valor

Esta investigación realiza tres contribuciones a la literatura existente: a) permite un mejor conocimiento de la cobertura cambiaria en empresas españolas internacionales que ejercen un papel relevante en los mercados latinoamericanos; b) utiliza un conjunto de variables más amplio para contrastar las teorías de cobertura que el aplicado en estudios precedentes; c) emplea la metodología de datos de panel y no estimaciones en sección cruzada como presentan los trabajos previos, lo cual permite controlar la heterogeneidad inobservable y posibles problemas de endogeneidad.

Details

Academia Revista Latinoamericana de Administración, vol. 26 no. 2
Type: Research Article
ISSN: 1012-8255

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Article
Publication date: 1 January 1995

Marilyn E. Barnes

Libraries need to develop information processing systems for evaluation, budgeting, planning, and operations. Electronic spreadsheets lend themselves to a variety of…

Abstract

Libraries need to develop information processing systems for evaluation, budgeting, planning, and operations. Electronic spreadsheets lend themselves to a variety of applications, but are time‐consuming to create. A model template and macros that can be used in many different types of library data analysis have been developed here. The procedures demonstrated here can build an essential set of tools for meeting fundamental goals of administrative efficiency, effective use of library resources, staff motivation, and rational policy making.

Details

The Bottom Line, vol. 8 no. 1
Type: Research Article
ISSN: 0888-045X

Book part
Publication date: 26 November 2019

Partha Gangopadhyay, Mamun Billah and Siddharth Jain

Economic and financial integration (hereafter, economic integration) among economies has been a fertile area of research. Yet, what we argue is that economic integration…

Abstract

Economic and financial integration (hereafter, economic integration) among economies has been a fertile area of research. Yet, what we argue is that economic integration needs new thoughts to adequately model the recent challenges to the global economy by developing a new index/measure of economic integration. The new index will not only shed invaluable insights into the drivers of economic integration between Australia and the Middle East but will also help craft economic, trade, and commercial policies to achieve the desired type of integration with Australia's trading partners. Our analysis is undertaken on a cross section of 140 countries for the year 2011, to understand the causes and indicators of integration. Our model combines changes in real GDP, per capita GDP, percentage of educational expense, and gender inequality as causal factors to explain integration as a latent variable. We use three indicators of integration: (1) a standard measure of economic integration, (2) exports and imports as a percentage of GDP, (3) flows of foreign direct investment. We then explore the linkages between these indicators, or manifestations of integration, and a number of its possible causes. In terms of the new index we rank 140 nations and note that Australia is ranked among the top 20 nations in terms of integration with the global economy. Except Israel and Oman, Australia's trade partners in the Middle East have little integration with the global economy. In a similar vein, we also find that Australia's northern neighbors – especially Indonesia, Malaysia, Thailand, Cambodia, Myanmar, Sri Lanka, India – are yet to get well-integrated with the global economy. As a result, we argue, Australia can lead these countries from Southeast Asia and the Middle East to form closer ties with the global economy via Australia and, by doing so, Australia can create unprecedented economic and social benefit.

Book part
Publication date: 21 October 2019

Rudy Yaksick

The purpose of this chapter is to demonstrate how blockchain technology – which permits the Internet-based exchange of value (digital assets) – enables supply chain…

Abstract

The purpose of this chapter is to demonstrate how blockchain technology – which permits the Internet-based exchange of value (digital assets) – enables supply chain finance banks to overcome the challenges they face when attempting to create win–win transactions for supply chain participants. Traditionally, buyers and suppliers linked together in a supply chain have conflicting objectives as manifested by a zero-sum payoff structure. Suppliers want their invoices to be paid quickly in order to reduce their need for working capital. In contrast, buyers want to delay payment of invoices as long as possible in order to reduce their need for working capital. In other words, suppliers want a short cash conversion cycle; buyers want a long cash conversion cycle. This conflict is eliminated by the insertion of a financial intermediary (supply chain finance bank) between the buyer and the supplier. The bank eliminates the conflict by: (1) using its balance sheet to decouple the cash conversion cycles of the buyer and supplier; and (2) providing cheaper financing to impatient suppliers and reluctant buyers (since the bank has a higher credit rating than both the supplier and the buyer).

Details

Disruptive Innovation in Business and Finance in the Digital World
Type: Book
ISBN: 978-1-78973-381-5

Keywords

Book part
Publication date: 26 April 2014

Anubha Dhasmana

To study the determinants and effects of “Operational” exchange rate exposure resulting from the mismatch between cost and revenues of the firms by using data on 500 Indian firms.

Abstract

Purpose

To study the determinants and effects of “Operational” exchange rate exposure resulting from the mismatch between cost and revenues of the firms by using data on 500 Indian firms.

Design/methodology/approach

We conduct detailed empirical analysis of the determinants of firm level exposure and their impact using panel regression techniques and conduct several robustness tests to confirm the validity of these results.

Findings

Among other factors, exchange rate volatility appears as a significant determinant of average firm level exposure with the direction of relationship supporting the presence of “Moral Hazard” in firm’s risk-taking behavior. Further large “operational” exposure is associated with significantly lower output growth, profitability, and capital expenditure during episodes of large currency depreciation at the firm level.

Research limitations/implications

This paper leaves several questions to be answered. Further research is called for to explore the nature of distortions in the production process encouraged by exchange rate volatility and their impact on firm level productivity. Looking at the relationship between the use of financial and operational hedges is another fruitful area of future research.

Practical implications

Our results have important implications for policy makers worried about mitigating the impact of exogenous shocks. Implicit and explicit guarantees with regards to the value of exchange rate tend to raise the vulnerability of the economy to exchange rate shocks at same time that they encourage capital expenditures and possibly output growth during “normal” times. Our findings indicate that the policy makers must take into account the incentive effects of their intervention in foreign exchange markets.

Originality/value

Unlike the existing papers in the literature, we use a measure of “operational” currency exposure based on foreign currency revenues and costs of firms. In most of the existing papers the focus is on the mismatch between the currency denomination of assets and liabilities. Little attention has been paid to the currency mismatch between costs and revenues of the firms. Such “operational” mismatches are potentially equally important and deserve attention of policy makers and academics alike.

Details

Macroeconomic Analysis and International Finance
Type: Book
ISBN: 978-1-78350-756-6

Keywords

Book part
Publication date: 26 November 2019

Anil Bhuimali, Partha Pratim Sengupta, Sidhartha Sankar Laha and Madhabendra Sinha

This chapter attempts to investigate and analyze the worldwide long-run dynamics among foreign direct investment (FDI) inflow, international trade, and economic growth…

Abstract

This chapter attempts to investigate and analyze the worldwide long-run dynamics among foreign direct investment (FDI) inflow, international trade, and economic growth empirically in the era of globalization. Impact of FDI on economic performances has been a burning topic during the current age. Different theoretical studies viewed both positive and negative impacts of inflow of foreign capital in terms of FDI. We empirically test the relationships among FDI and trade, gross domestic product by using the data for top 20 FDI-hosting countries sourced from UNCTAD in a dynamic panel frame over the period of 1991–2016. The stochastic properties are looked into by carrying out panel data unit root tests developed by Levin, Lin, and Chu (2002) and Im, Pesaran, and Shin (2003). We carry out the generalized method of moments estimates. Empirical findings suggest that inflows of FDI significantly promote economic growth in selected economies.

Details

The Gains and Pains of Financial Integration and Trade Liberalization
Type: Book
ISBN: 978-1-83867-004-7

Keywords

Book part
Publication date: 19 December 2016

Abu Umar Faruq Ahmad

Sukuk are popular means for governments to raise money through sovereign issues, and for corporations to obtain finance through corporate sukuk offerings. The purpose of…

Abstract

Purpose

Sukuk are popular means for governments to raise money through sovereign issues, and for corporations to obtain finance through corporate sukuk offerings. The purpose of this study is to critically examine the issues revolving around various aspects of sukuk such as regulation, performance and future challenges from different Asian market jurisdictions.

Methodology/approach

Using various sukuk structures and other literatures, this chapter critically investigates some general legal and regulatory requirements for sukuk issuance, its required infrastructure in various jurisdictions in addition to some other relevant important issues to generate cash flows and raise finance through Islamic capital market (ICM) operations without violating the tenets of Sharī’ah in sukuk structures which ultimately helps the economic growth of the Asian region.

Findings

The study finds that in many Asian countries, a separate and specialised regulatory framework, as demanded by sukuk, is lacking and this instrument is treated under the same regulations as of conventional capital markets and their instruments. Some of the regulations may be appropriate for ICM and sukuk, however, most of these regulations need proper modification in order to treat sukuk with clear understanding.

Practical implications

Being part of a niche and new area of Islamic finance in the global financial market a plethora of confusion exists regarding various aspects of sukuk including regulation, performance and future challenges particularly in Asian jurisdiction where sukuk are largely in operation. Findings from this study can be used as a reference to understand the need of the proper modification of conventional regulations, the performance of sukuk in better ways, and meeting other relevant challenges.

Originality/value

Although the demands for having specialised regulatory framework of sukuk, or at least amendments in the current framework for conventional bonds is gaining momentum worldwide in order to accommodate sukuk in the capital markets according to their peculiar nature, it has not caught much attention of researchers and practitioners involved with Islamic finance. Therefore, this study is expected to add value to regulation, standardisation and performance of sukuk in the Asian market, and it deals with the obstacles in the growth of sukuk, which were not extensively covered earlier by the researchers and the Islamic finance industry practitioners.

Details

Advances in Islamic Finance, Marketing, and Management
Type: Book
ISBN: 978-1-78635-899-8

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