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Given the fierce competition in financial services, service failure management and trust restoration tactics are becoming strategic priorities. Studies investigating trust restoration have increased over the years due to the significance of trust in services and the frequency of trust violations. Drawing on the sense-making and defensive approaches of attribution theory, this study aims to explore the effectiveness of various trust recovery tactics (e.g. apology, explanation, and investigation) in financial services considering the prevalence of service failure severity.

Based on a scenario-based survey, this study gathered data from 402 consumers of different banks in Pakistan. The study analyzed the data using ordinary least square regressions and structural equation modeling.

The study indicated that explanation is more effective in repairing character-competence and commitment-based trust, while investigation remained highly effective for inducing congruence-based trust. Interestingly, an apology was more effective for communication-based trust repairing, while context-based trust recovery was unaffected against all recovery tactics. Despite the prevalence of severe service failure, recovery actions proved fully effective for character-competence and commitment-based trust while partially effective for congruence-based trust recovery. This study also found that severe service failure undermines the effectiveness of recovery actions in repairing communication and context-based trust.

The study extends the literature on trust recovery by integrating sense-making and defensive attribution theory. The sense-making approach contributes to the existing knowledge on trust recovery by elucidating how consumers and service providers develop a shared understanding to facilitate the recovery mechanism of multidimensional trust in financial services.

This paper aims to determine the effect of exposure of underground electrical cables to chemically contaminated water.

Visual inspection and photography were carried out to record the appearance of electrical cables. Failed and un-failed cable samples were collected and analyzed using light microscopy, scanning electron microscopy coupled with energy-dispersive X-ray spectroscopy and Fourier transform infrared spectroscopy. Sand and water samples were chemically tested for contaminants.

Underground low-voltage 0.6/1-kV cross-linked polyethene insulated cables belonging to a chemical production plant suffered failure after four years of service. Excavation of the cable trench revealed that the cables were buried in sand polluted with chemically contaminated water. The cables were discolored and covered with corrosion deposits. Experimental results indicated that the cable insulation was heavily degraded and the outer jacket of polyvinyl chloride exhibited cracks that had penetrated through its thickness. Water and sand surrounding the cable were found to have high concentrations of ammonia. Mechanical testing of the cables indicated high values of stiffness that could contribute to the formation of cracks at the surface.

It was concluded that contamination in the water had degraded the cable, resulting in the development of a network of branched cracks within the cable insulation through which water could permeate, leading to eventual failure of the cable. Accelerated degradation took place due to exposure to the contaminated environment, which promoted aging and brittleness. Continued exposure of electric cables to contamination would lead to power failures and plant shutdowns.

This paper provides an account of a failure investigation of low-voltage electrical cable buried underground. It discusses the role of contaminated environment in the eventual failure of electrical cable due to corrosion. This information will be useful for plant engineers and project managers working in any industry that makes use of chemicals.

The purpose of the present study is to examine the failure factors for the construction firms in a developing nation. Furthermore, the comparison of failure factors for private and government firms are evaluated.

In the present study, comparison between private and government construction firms is done in the context of a construction firm failure. About 60 construction firms were selected in and around the Nashik region for the investigation, where a simple multi-attribute rating technique (SMART) is used for analysis purpose.

It is found that for private firms (private contractors and builders) lack of experience is the major factor for failure of the business as against lack of managerial experience is a critical factor in case of a government contractor.

The outcome of the present study will be used to guide the policymakers during the implementation of governmental and private projects in order to lessen the construction project failures.

Construction company failure is an important aspect in developing countries like India. The limited studies were available in literature which shows failure factors for government and private firms and distinguished them. Hence, the present study extends the construction company failure literature by focusing on government and private firms. Also, the study provides some theoretical guidelines for management to avoid construction company failure in India.

A description of failure events during construction illustrates the urgent need to emphasize the management of quality in civil engineering projects. During the construction of a civil engineering project, cost control techniques are used to monitor cost trends and to detect cost deviations in order to control project cost. However, this technique does not reveal the cause of any failure. The nature and collection of failure costs have been part of quality costing. Hypothetical illustrations show how failure costs can be extracted during construction using a matrix. Quality cost information can be used to supplement cost control techniques for cost control purposes and in identifying weaknesses within a system.

Near-surface mounted (NSM) fiber-reinforced polymer (FRP) rod is extensively applied in reinforced concrete (RC) structures. The mechanical performances of NSM FRP-strengthened RC structures depend on the bond behavior between NSM reinforcement and concrete. This behavior is typically studied by performing pull-out tests; however, the failure behavior, which is crucial to the local debonding process, is not yet sufficiently understood.

In this study, a three-dimensional meso-scale finite element method considering the cohesion and adhesion failures is presented to model the debonding failure process in pull-out tests of NSM FRP rod in concrete. The smeared crack model is used to capture the cohesion failures in the adhesive or concrete. The interfacial constitutive model is applied to simulate the adhesion failures on the FRP-adhesive and concrete-adhesive contact interfaces.

The present method is first validated by two simple examples and then applied to a practical NSM FRP system. This work studied in detail the debonding process, the bond failure types, the location of peak bond stress, the transmitting deformation in adhesive and the morphology of contact zone. The developed method provides a practical and convenient tool applicable for further investigations on the debonding mechanism for the NSM FRP rod in concrete.

A three-dimensional meso-scale finite element method considering the cohesion and adhesion failures is presented to model the debonding failure in NSM FRP-strengthened RC structures. The smeared crack model and the interfacial constitutive model are introduced to develop a convenient approach to analyze the failures in adhesive, concrete and related interfaces. The developed numerical method is applicable for studying the debonding process, the bond failure types, the location of peak bond stress, the transmitting deformation in adhesive and the morphology of contact zone in detail.

Drawing on the fairness theory, this paper aims to propose a conceptual framework that investigates how co-creation in the failed service delivery (coproduction intensity) and co-creation in the service recovery affect customers’ evaluation of the firm’s competence, justice and ethicalness, and ultimately their willingness to co-create in the future.

Tax services were chosen as the research context. A consumer panel consisting of individuals who live in the USA and have used tax preparation services within the past year was recruited. The first study explores what happens to customers’ ethical perceptions during a failed co-created service encounter. A secondary study investigates what happens to customers’ ethical perceptions in the event that the failed co-created service is recovered.

The findings show that customers’ perceptions of the firm’s abilities and ethics are impeded by coproduction intensity but favorably influenced by co-creation of recovery.

A sense of ethicalness and fairness is violated when co-created service failure occurs, but fortunately, practitioners can count on engaging customers in the service recovery process as co-creators of the solution to positively alter perceived ethicalness and fairness.

Failed co-created services represent an under-researched area in the marketing literature. Current investigations of co-created service failures have largely approached the notion of fairness from a perceived justice perspective without referencing ethical judgments. However, fairness is grounded in basic ethical assumptions of normative treatment. This research is among the first to highlight the importance of perceived ethicalness in the context of co-created service failure and recovery.

Corporate failure remains a critical financial concern, with implications for both firms and financial institutions; this paper aims to review the literature that proposes corporate failure prediction models for the twenty-first century.

This paper gathers information from 106 published articles that contain corporate failure prediction models. The focus of the analysis is on the elements needed to design corporate failure prediction models (definition of failure, sample approach, prediction methods, variables and evaluation metrics and performance). The in-depth review creates a synthesis of current trends, from the view of those elements.

Both consensus and divergences emerge regarding the design of corporate failure prediction models. On the one hand, authors agree about the use of bankruptcy as a definition of failure and that at least two evaluation metrics are needed to examine model performance for each class, individually and in general. On the other hand, they disagree about data collection procedures. Although several explanatory variables have been considered, all of them serve as complements for the primarily used financial information. Finally, the selection of prediction methods depends entirely on the research objective. These discrepancies suggest fundamental advances in discovery and establish valuable ideas for further research.

This paper reveals some caveats and provides extensive, comprehensible guidelines for corporate failure prediction, which researchers can leverage as they continue to investigate this critical financial subject. It also suggests fruitful directions to develop further experiments.

To evaluate Thomas Cook’s financial condition, students deploy financial analysis techniques including comparative analysis. The role of financial reporting in impressions management is considered in two respects: firstly, the use of separately disclosed items by companies; and secondly, the treatment of goodwill on acquisition.

The case draws on a range of public data from Annual Reports and secondary sources including the Department of Business Energy and Industrial Strategy investigation into the failure of Thomas Cook.

Thomas Cook Group plc’s (Thomas Cook) was one of the oldest travel firms, yet its apparently sudden failure on 23 September 2019 left 600,000 holidaymakers stranded and sparked the largest ever peacetime repatriation of British citizens at cost of £83m to the Department of Transport. Around 9,000 employees who had expected to be paid on 30 September were left unpaid.Could CEO Peter Frankhauser have addressed the challenges faced by Thomas Cook more effectively during his tenure or was the company locked into a flightpath to failure? The case highlights the importance of context when performing financial analysis and encourages students to evaluate the challenges posed by the current standards related to accounting for goodwill and corporate reporting of underlying performance.

This case can be used in undergraduate financial reporting and current issues in accounting courses/modules at the postgraduate level.

This paper aims to present a novel approach on investigating critical current densities in the solder joints of chip-size surface-mounted components or device (SMD) components and ball grid array (BGA) lead-free solder joints with the focus of via-in-pad geometries. The investigation involves a numerical approach and a physical validation with selected geometry configurations and high current loads to reveal possible failure sources. The work is a continuation of a previous study.

Current density was investigated using finite element modeling on BGA joints. Dummy BGA components, 0402 and 0603 zero ohm jumper resistors, were used, both in daisy chain setups on standard FR4 printed circuit boards (PCBs). Respective physical loading experiments were set to find effects of elevated current density at hot zones of the joints. Cross-section analysis, scanning electron microscopy and shear force tests were used to analyze the joints.

The findings reveal alterations in the joints, while the current loading is not directly affecting the structure. The modeling reveals the current density map in the selected formations with increased current crowding zones. Overall, the degradation does not reach the level of electromigration (EM)-induced voiding due to the limiting factor of the FR4 substrate.

The heavy current load affects joint reliability, but there are limitations of EM-induced failures on PCB-based assemblies due to the thermomechanical weakness of the FR4 material.

The experiments investigate current density from a novel aspect on frequently used BGA surface mounted components with modeling configurations focusing on possible effects of via-in-pad structure.

Plant failures are often not fully investigated, owing to the pressures of restoring production so as to avoid delays and consequent losses. Instead, problems are overcome by quick solutions. Such solutions, however, may not eliminate the underlying cause of trouble and additional costly failures may occur.