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The purpose of this paper is to present a new constrained optimization algorithm based on a particle swarm optimization (PSO) algorithm approach.

This paper introduces a hybrid approach based on a modified ring neighborhood with two new perturbation operators designed to keep diversity. A constraint handling technique based on feasibility and sum of constraints violation is adopted. Also, a special technique to handle equality constraints is proposed.

The paper shows that it is possible to improve PSO and keeping the advantages of its social interaction through a simple idea: perturbing the PSO memory.

The proposed algorithm shows a competitive performance against the state‐of‐the‐art constrained optimization algorithms.

The proposed algorithm can be used to solve single objective problems with linear or non‐linear functions, and subject to both equality and inequality constraints which can be linear and non‐linear. In this paper, it is applied to various engineering design problems, and for the solution of state‐of‐the‐art benchmark problems.

A new neighborhood structure for PSO algorithm is presented. Two perturbation operators to improve PSO algorithm are proposed. A special technique to handle equality constraints is proposed.

A new laminated composite plate finite element is proposed that is numerically stable and accurate in displacements and stresses, including transverse shear stress. The formulation is based on the Hellinger—Reissner principle with Mindlin kinematics. All stress components are given independent approximations and do not satisfy equilibrium conditions a priori. A novel feature of the formulation is the additive decomposition of the displacement field into two parts corresponding to nodal interpolations and independent local basis functions. The additional basis functions and their associated parameters play an important role in characterizing the accuracy of the element. These functions eliminate shear locking in the lower order elements and provide additional variational constraints on the stresses, leading to very accurate results. A 4‐node and a 9‐node version are developed and it is shown that both elements pass the patch test suggested by Zienkiewicz et al. and are stable in the sense of the Babuška—Brezzi condition. The special structure of the element flexibility matrix provides computational efficiency approaching that of displacement based formulations.

The paper discusses the prediction of shirt patterns for different body sizes using multiple linear regression (MLR).Design/methodology/approach – A total of 29 pattern parameters from men's tailor‐made shirt and 34 body parameters obtained from a body scanner were designed for analysis. MLR has been applied to examine the underlying relationship between shirt pattern parameters and body measurements.Findings– Compared with formulae from the pattern expert, the prediction of shirt pattern from MLR has been improved.Originality/value – The findings could help to predict pattern size with different body sizes more accurately.

This paper attempts to evaluate the transverse stresses that are generated within the interface between two layers of laminated composite and sandwich laminates by using Cℴ finite element formulation of higher‐order theories. These theories do not require the use of a fictitious shear correction coefficient which is usually associated with the first‐order Reissner‐Mindlin theory. The in‐plane stresses are evaluated by using constitutive relations. The transverse stresses are evaluated through the use of equilibrium equations. The integration of the equilibrium equations is attempted through forward and central direct finite difference techniques and a new approach, named as, an exact surface fitting method. Sixteen and nine‐noded quadrilateral Lagrangian elements are used. The numerical results obtained by the present approaches in general and the exact surface fitting method in particular, show excellent agreement with available elasticity solutions. New results for symmetric sandwich laminates are also presented for future comparisons.

This study aims to analyse slender thin-walled anisotropic box-beams. Fiber-reinforced laminated composites could play an important role in the design of current and future generations of innovative civil aircrafts and unconventional unmanned configurations. The tailoring characteristics of these composites not only improve the structural performance, and thus reduce the structural weight, but also allow possible material couplings to be made. Static and dynamic aeroelastic stability can be altered by these couplings. It is, therefore, necessary to use an accurate and computationally efficient beam model during the preliminary design phase.

A proper structural beam scheme, which is a modification of a previous first-level approximation scheme, has been adopted. The effect of local laminate stiffness has been investigated to check the possibility of extending the analytical approximation to different structural configurations. The equivalent stiffness has been evaluated for both the case of an isotropic configuration and for simple thin-walled laminated or stiffened sections by introducing classical thin-walled assumptions and the classical beam theory for an equivalent system. Coupling effects have also been included. The equivalent analytical and finite element beam behaviour has been determined and compared to validate the considered analytical stiffness relations that are useful in the preliminary design phase.

The work has analyzed different configurations and highlighted the effect of flexural/torsion couplings and a local stiffness effect on the global behaviour of the structure. Three types of configurations have been considered, namely, a composite wing box configuration, with and without coupling effects; a wing box configuration with sandwich and cellular constructions; and a wing box with stiffened panels in a coupled or an uncoupled configuration. An advanced aluminium experimental test sample has also been described in detail. Good agreement has been found between the theoretical and numerical analyses and the experimental tests, thus confirming the validity of the analytical relations.

The equivalent beam behaviour that has been determined and the stiffness calculation procedure that has been derived could be useful for future dynamic and aeroelastic analyses.

The article presents an original derivation of the sectional characteristics of a thin-walled composite beam and a numerical/experimental validation.

A unified approach is presented for the pseudo‐transient (static) linear and geometrically non‐linear analyses of composite laminates. A finite element idealization with a four‐noded linear and a nine‐noded quadrilateral isoparametric elements, both belonging to the Lagrangian family are used in space discretization. An explicit time marching scheme is employed for time integration of the resulting discrete ordinary differential equations with the special forms of diagonal fictitious mass and/or damping matrices. The accuracy of the formulation is then established by comparing the presnt pseudo‐transient analysis results with the present static Newton‐Raphson method results and other available analytical closed‐form two dimensional and finite element solutions. The usefulness and effectiveness of this approach is established by comparing computational time required by this approach and Newton‐Raphson's approach.

This study aims to comprehensively inspect the impact of blockchain technology in the context of globalization, focusing on the most influential research works, scientific production by countries, commonly used keywords, trending topics and the conceptual and intellectual structure of this field.

A bibliometric analysis was conducted in R Studio, involving the review and scrutiny of 194 research papers indexed in the Scopus database. This analytical approach allowed for a systematic examination of the literature and the identification of key patterns and trends in blockchain and globalization research.

The analysis revealed the most influential research contributions, highlighted countries with significant scientific production, identified frequently used keywords and unveiled emerging trends and areas of focus in the field of blockchain and digitization. Additionally, the study explores prospective research directions.

This research provides insights into the current state of blockchain and globalization research, offering valuable information for scholars, policymakers and industry professionals. The recognized themes provide a systematic structure for upcoming inquiries, directing studies toward vital domains like supply chain management and sustainable development. Moreover, the analysis emphasizes the significance of interdisciplinary collaboration and provides practical insights, enabling businesses and policymakers to enhance transparency, counteract fraud and adjust to the digital era for societal and economic advancement.

The study contributes to the prevailing literature by steering a comprehensive analysis of the interplay between blockchain technology and globalization, shedding light on influential works and emerging trends. It adds value by providing a structured overview of the field's intellectual landscape.

We study the role of having an audit committee (AC) as a signal of firm quality and as a monitoring device of the information quality contained in the listing prospectus.

Ordinary Least Squares regressions are used to examine the association between the presence of an audit committee and (1) the initial return (IR), and (2) the earnings forecast error in the listing prospectus in a sample of 55 Real Estate Investment Trusts that went public on the BME Growth market during 2013–2022. Heckman two-step estimation procedure to correct for endogeneity and bootstrap are used for robustness.

We show that IR and earnings forecasts are significantly affected by the presence of AC. The IR is higher and the earnings forecast included in the prospectus are of higher quality in firms with AC.

Our research provides (1) managers with new tools when deciding on their corporate governance structure in the listing process, (2) specific evidence for regulators on the role played by ACs in the process of going public, which may be useful in the context of the ongoing regulatory changes regarding admission processes in Europe, and (3) society with a sign that AC can enhance investor and public confidence in financial markets and foster a more stable and transparent investment environment.

The adoption of an AC is voluntary in this market, so this discretionary decision provides an exceptional opportunity to conduct such an analysis. Additionally, this issue has not been previously analysed in Europe.

我們擬探討審計委員會在作為是公司質素的一個信號, 以及在作為是監控上市招股書內資料質素的一個機制所扮演的角色。

研究人員使用普通最小二乘法回歸模型, 去探討審計委員會的存在與 (一) 初期回報、和 (二)上市招股書內收益預測的錯誤兩者之間的關聯。研究的樣本為55個於2013年 至 2022年間在 BME Growth 市場上市的不動產投資信託。研究人員使用自助法和可幫助修正內生性問題的赫克曼兩階段回歸, 以達數據的穩健性。

研究結果顯示, 審計委員會的存在會顯著地影響初期回報和收益預測。若公司採用審計委員會, 初期回報則會較高; 而且, 招股書內的收益預測也顯示較高的質素。

由於採用審計委員會與否在這研究的有關市場內純基於自主的決定、而非屬強制性, 因此, 與這決定有關的課題為學者提供了特殊的研究機會。再者, 在歐洲至今似仍未有學者曾嘗試探討這個課題。

本研究帶來以下實務方面的啟示: (一) 當經理需決定其在上市過程中的公司治理結構時, 本研究為他們提供了新的工具給他們使用; (二) 本研究為調控者就公司上市過程中審計委員會所扮演的角色提供具體的證據。而這因歐洲正進行更改與批核上市有關的規管而可能使其產生用處; (三) 本研究為社會提供一個信號, 顯示審計委員會不但可增強投資者和大眾對金融市場的信心, 而且還能培育更穩定和透明的投資環境。

公司治理、審計委員會、上市、初期回報、盈餘預測、不動產

This study examines principal rotation in China to gain empirical insights from the policy analysis and succession strategies that principals employ to gain internal and external support in their new schools.

We employed document analysis and a case study approach. Interviews were conducted with officials in 5 local educational agencies and 40 principals from 5 different regions who were undergoing rotation. Thematic analysis was used to identify common patterns and themes in the interview responses.

We explored how the principal-rotation policy was implemented, including the goals, standards, targeted principals, tools and other aspects of the policy in China. The study revealed the challenges faced by the rotated principals and their succession strategies.

Our study contributes to the field of educational leadership by shedding light on the implementation and impact of principal rotation in mainland China.

Financial manipulation means the modification made knowingly and willfully by businesses in accounting records and transactions, in financial statements, through addition and subtraction, for the purpose of misleading financial information users. Financial manipulations are expected to have an effect on the decisions of financial information users. The present study was established on the basis of two main objectives. The first objective is to determine whether banks, which are Public Interest Entities (PIE), manipulate their financial statements. As for the second objective, it is to reveal whether the detected financial manipulations have an effect on investor decisions. The research conducted to achieve the first objective is based on the examination of independent audit reports for the periods between 2009 and 2017, pertaining to 45 banks registered to the Banks Association of Turkey, in terms of presented opinions. Data acquired from examined reports were subjected to content analysis via the Microsoft Excel program. In line with the second objective of the study, investor numbers for the periods between 2010 and 2017, of 13 banks, which are within the scope of BIST BANK, were included in the analysis, according to data acquired from the Central Registry Agency. Financial statements of banks, with audit reports in which a qualified opinion is expressed, were considered to have been manipulated. SPSS 22.0 statistics pack software was used to analyze whether investment demands toward these banks had an effect on decisions of domestic and foreign investors. In the analysis, frequency and One-Way ANOVA tests were used. In consequence of the analyses conducted, it was determined that, around one fifth of financial statements of PIE banks, pertaining to the periods between 2009 and 2017, were manipulated; it was mostly committed by private banks, and majority of the manipulations were committed due to free provisions made. It was also observed that manipulations did not have an effect on decisions of neither domestic nor foreign investors. The reason behind the latter is the fact that while the level of manipulations in financial statements is significant, it is not a widespread occurrence.