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Book part
Publication date: 15 June 2012

Johan E. Eklund and Johan P. Larsson

The neoclassical theory of investments, as formulated by Dale Jorgenson (1963, 1967), can be expressed in a fairly straightforward way.1 Neoclassical formulations such as…

Abstract

The neoclassical theory of investments, as formulated by Dale Jorgenson (1963, 1967), can be expressed in a fairly straightforward way.1 Neoclassical formulations such as Jorgenson's were preceded by contributions by many influential economists. Both John Maynard Keynes and Irving Fisher, for example, argued that investments are made until the present value of expected future revenues, at the margin, equals the opportunity cost of capital. This means that investments are made until the net present value is equal to zero.

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The Spatial Market Process
Type: Book
ISBN: 978-1-78190-006-2

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Book part
Publication date: 15 June 2012

David Emanuel Andersson

In “An Austrian Theory of Spatial Land,” Fred E. Foldvary addresses the disregard of spatial issues in basic Austrian economic theory as formulated by Carl Menger (1871)

Abstract

In “An Austrian Theory of Spatial Land,” Fred E. Foldvary addresses the disregard of spatial issues in basic Austrian economic theory as formulated by Carl Menger (1871) and elaborated upon by Ludwig von Mises (1940). Foldvary shows that Johann Heinrich von Thünen (1826) and Henry George (1879/1884), in particular, serve to fill these gaps in the classical Austrian theory of the market process. Moreover, a theory that incorporates spatial land leads to the conclusion that Austrian business cycle theory is incomplete: The “malspeculation” that accompanies urbanization whenever capital and labor rather than land are the main sources of tax revenue will have to be added to the malinvestment that is caused by expansionary monetary policies.

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The Spatial Market Process
Type: Book
ISBN: 978-1-78190-006-2

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Article
Publication date: 31 May 2011

Sameeksha Desai, Johan Eklund and Andreas Högberg

The purpose of this paper is to study the efficiency of capital allocation, across levels of ownership, in the aftermath of pro‐market reforms in India.

Abstract

Purpose

The purpose of this paper is to study the efficiency of capital allocation, across levels of ownership, in the aftermath of pro‐market reforms in India.

Design/methodology/approach

The paper measures investment efficiency using the accelerator principle and examines the effect of ownership type on capital allocation.

Findings

No significant improvement in capital allocation during the period studied is found. The findings suggest firms face significant costs in adjusting their capital stock.

Originality/value

The paper uses unique data to estimate the elasticity of capital with respect to output.

Details

Journal of Financial Economic Policy, vol. 3 no. 2
Type: Research Article
ISSN: 1757-6385

Keywords

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Book part
Publication date: 15 June 2012

Abstract

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The Spatial Market Process
Type: Book
ISBN: 978-1-78190-006-2

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Article
Publication date: 31 May 2011

James Barth and John Jahera

Abstract

Details

Journal of Financial Economic Policy, vol. 3 no. 2
Type: Research Article
ISSN: 1757-6385

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Article
Publication date: 8 November 2011

Annika Haugen and Johan Mattsson

In Norway the most critical effects of climate change are predicted to be increased rain and snow, higher temperatures, increased wind loads, and sea‐level rise. This will…

Abstract

Purpose

In Norway the most critical effects of climate change are predicted to be increased rain and snow, higher temperatures, increased wind loads, and sea‐level rise. This will increase the number of floods and landslides, along with more cycles around the freezing point and increased exposure to high moisture. The main issue for protecting Norway's historical monuments from climate change is how to be aware of and how to handle the coming problems. One challenge is to define and give this information to heritage owners and local authorities. The purpose of this paper is to describe some of the practical threats related to climate change, and provide suggestions for mitigation and adaption strategies.

Design/methodology/approach

Theoretical information of the problem is useful at a general level, but the practical impact has to be used at a local level. Improved knowledge about the risks for deterioration at different exposure levels, thorough surveys, and practical solutions, can significantly reduce the negative effects. This knowledge must reach the people that have local and daily contact with the cultural heritage. Information to the owners and responsible authorities about the normal risk of deterioration and how to identify risks related to climate change is crucial.

Findings

The main results of the authors' work is a methodology dealing with the problem step‐by‐step production of a web‐site based on fact sheets for heritage owners and managers. The fact sheets are divided amongst different subjects and are designed to be informative and easy to use for owners and responsible authorities.

Originality/value

The results presented in this paper will increase the knowledge of how owners of cultural heritage can be prepared for climate change on a practical, hands‐on level. This can, for example, be done by a brief overall analysis of the threats of the cultural heritage in a specific municipality. The analysis can be summarised in a list of increased possible risks, with direct practical information given to those needing it, and placed online. This would enable detection of and reaction to warning signs of an unusual situation. Information, training and production of both general and specific plans for action in case of extreme situations are also important in order to prevent the negative effects of climate change.

Details

International Journal of Climate Change Strategies and Management, vol. 3 no. 4
Type: Research Article
ISSN: 1756-8692

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Article
Publication date: 14 September 2012

K. Bukat, J. Sitek, M. Kościelski, M. Jakubowska, M. Słoma, A. Młożniak and W. Niedźwiedź

The purpose of this paper is to study the manufacturing of SAC 305 solder paste with multiwall carbon nanotubes (MWCNT) before and after structure modification and also to…

Abstract

Purpose

The purpose of this paper is to study the manufacturing of SAC 305 solder paste with multiwall carbon nanotubes (MWCNT) before and after structure modification and also to investigate the added carbon nanotubes' influence on the technological properties and the microstructure of “nano” solder pastes. This work is a continuation of similar previous studies of SAC solder pastes with silver nanopowder additions.

Design/methodology/approach

The authors applied functionalization and esterification methods for the structural modification of the carbon nanotubes. The “nano” solder paste preparation was performed with the use of a two‐stage method of carbon nanotube dispersion in “own‐manufactured” SAC 305 solder paste. To determine the technological properties of the “nano” solder paste, slump, solder ball, wetting and spreading tests were applied according to the existing standards. Standard metallographic procedures were applied for microstructural analysis.

Findings

As expected on the basis of the previous studies of SAC solder pastes with silver nanopowders, positive results were obtained for the own‐manufactured SAC 305 solder paste with carbon nanotubes by applying the dispersion method. Also applied were functionalization and esterification methods, whose results showed microstructural changes in the carbon nanotubes. The “nano” SAC solder pastes showed a positive influence on the slump properties, compared to the basic SAC solder paste. The authors proved a negative influence of the carbon nanotubes' addition (dependent on their concentration) on the spreading and wetting of the SAC solder paste on a copper substrate, which provoked the non‐wetting and dewetting phenomena. A slight improvement was observed for the “nano” SAC solder pastes with modified carbon nanotubes. The carbon nanotubes' presence in the solder paste showed a positive effect on the growth reduction of the IMCs' thickness, which depended on the type.

Research limitations/implications

The authors intend to verify the reinforcement effect of the alloys with carbon nanotubes suggested in the literature (the aim of Part II). For this purpose, an assembly process with RC electronic elements on PCBs with Ni/Au and SAC (HASL) finishes will be performed, with the use of the SAC 305 solder paste with modified carbon nanotubes, for the purpose of reflow soldering. Next, measurements of the mechanical strength of the solder joints and their microstructures will be conducted.

Practical implications

It is suggested that further studies of the mechanical properties and the reliability of solder joints are necessary for the practical implementation of the “nano” SAC solder pastes, but taking into account the wetting data, the investigation should be performed only for “nano” pastes with the lowest additions of modified carbon nanotubes.

Originality/value

The paper demonstrates a method of “nano” solder paste preparation by means of a two‐stage dispersion of carbon nanotubes in the own‐manufactured SAC 305 solder paste and a comparison study of the properties of “nano” pastes with the basic SAC solder paste.

Details

Soldering & Surface Mount Technology, vol. 24 no. 4
Type: Research Article
ISSN: 0954-0911

Keywords

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