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This article aims to verify if there are detectable barriers in price levels that are understood to be psychologically important (psychological barriers) in a set of hourly electricity prices. These barriers manifest themselves when the market struggles with a difficulty in crossing the barrier to a different level. Psychological barriers focus on directional price movements around regions of the barrier, thus the importance of understanding investor behavior. The authors intend to contribute empirically to the scarce literature on psychological influences in individuals trading in the energy market, hereby enhancing the knowledge concerning the behavior of investors in this market.

The present work aims to test psychological barriers in the Nord Pool electricity market. Through a sample of hourly data on the Elspot day-ahead market, from 2013 to 2017, three groups of tests were made, following the M-values methodology: (1) uniformity tests, which clearly rejected the uniformity in hourly prices; (2) barrier tests, which included the barrier proximity and barrier hump tests, evidencing psychological barriers and (3) conditional effects tests, which allowed us to conclude in favor of effects of positive returns after approaching a barrier on an upward movement, i.e. the barrier breaches due to the fact that increasing prices tend to lead to further price increases, on average.

Uniformity tests, rejected the uniformity in hourly prices; barrier tests, included the barrier proximity and barrier hump tests, evidencing psychological barriers and conditional effects tests, allowed us to conclude in favor of effects of positive returns after approaching a barrier on an upward movement, i.e. the barrier breaches due to the fact that increasing prices tend to lead to further price increases, on average. Another relevant conclusion is that the period from midnight to 9 a.m. is very sensitive, since there is evidence of return and variance effects simultaneously. The implications of these results are potentially relevant, since changes on the variance are usually perceived as a proxy for risk, with changes on the return. It was also concluded that with the increase of the time span from 5 to 10 days on the conditional effects difference tests, there were significant changes on the results, the variance effect is stronger, while the return effect weakens.

However, this research presents some limitations that result in representing opportunities for future research. The fact that there are reduced data available for other markets end up limiting the study of the global electricity market. Although Nord Pool is Europe's leading energy market and is seen as one of the most successful energy markets in the world, it would be interesting to do a study with more than one electricity market to make comparative considerations. Although the spot market is the main arena for energy trade, while the intraday market works as a compliment, it would be equally interesting to do a similar study for the intraday market and then compare conclusions. Moreover, in the present study, it was used standard methods in the literature on psychological barriers, but other methods could have been used–for example, those that assume that prices follow the Benford's distribution (Lu and Giles, 2010), which also present a path for future research and opportunity for confirming the robustness of the present results.

When the presence of psychological barriers is detected it means that the risk-return relationship becomes weaker around the psychological barrier (round numbers, meaning that electricity traders anchor). Identification of psychological barriers supports the claim that technical analysis strategies based on price support and resistance can be profitable. Therefore, more profitable strategies can be built by traders, but no reconciliation with the efficient market hypothesis (EMH) (provided that in inefficient markets prices should not exhibit any particular pattern). The finding of significant psychological barriers in specific hourly time intervals implies the need to address its practical implications in electricity markets, being so specific, namely, the possibility to earn extraordinarily profits exploiting this anomaly and who wins.

The electricity sector is a determinant sector in economic growth and a factor of development. Herein lies the importance of studying this market, which until now has not occurred in this subject, as far as it was possible to gauge. Are there barriers in the electricity market and should such a presence be taken into account? Investigating the existence of psychological barriers in the electric market becomes relevant, because knowing that investors are psychologically affected by a psychological barrier, can become a useful tool in negotiation, as it can function as another variable in the “equation” which is to trade in a complex market like this. Proving the potential presence of a psychological barrier may lead investors to believe in the idea of levels of resistance or levels of support, affecting their decision-making and price dynamics.

This research aims to systematically explore the cognitive and emotional effects of values-related and performance-related negative brand publicity and investigate how the psychological effects translate into different behavioural outcomes. In addition, it examines the relative effectiveness of two major brand response strategies in mitigating negative publicity.

Two experimental studies were conducted to test the hypotheses. Study 1 examines the effects of values- and performance-related negative brand publicity, using a 3 (negative brand publicity: values-related vs performance-related vs control) × 2 (brand: Dove vs Axe) between-subjects experiment. Study 2 further compares the effects of two major brand response strategies on consumers’ post-crisis perceived trustworthiness and trust and responses towards a brand involved in negative publicity. A 2 (negative brand publicity: values-related vs performance-related) × 2 (brand response strategy: reduction-of-offensiveness vs corrective action) between-subjects design was used.

The results suggest that values-related negative brand publicity is perceived as being more diagnostic and elicits a stronger emotion of contempt, but a weaker emotion of pity than performance-related negative brand publicity. Moreover, values-related negative brand publicity has a stronger negative impact on consumer responses than performance-related negative brand publicity. Interestingly, compared to perceived diagnosticity of information and the emotion of pity, the emotion of contempt is more likely to cause differences in consumer responses to these two types of negative brand publicity. Regarding brand response strategy, corrective action is more effective than reduction-of-offensiveness for both types of negative brand publicity, but the advantage of corrective action is greater for the performance-related case.

This research enriches the negative publicity and brand perception literature, showing the asymmetric cognitive, emotional and behavioural effects of values- and performance-related negative brand publicity. It also identifies the psychological mechanisms underlying consumer responses to negative brand publicity, and it provides empirical evidence for the relative effectiveness of two major brand response strategies.

The purpose of this paper is to study the existence of psychological barriers in cryptocurrencies.

To detect psychological barriers, the authors perform a uniformity test, a barrier hump test, a barrier proximity test and conditional effects test to a sample comprised by the daily closing quotes of six of the most liquid cryptocurrencies.

The results evidence the existence of psychological barriers in four of the cryptocurrencies under scrutiny, namely, Bitcoin, Dash, NEM and Ripple.

The fact that the cryptocurrency market has a high share of unexperienced investors and presents several cases of psychological barriers is consistent with the hypothesis that that class of investors is particularly prone to the behavioral biases which cause psychological barriers.

This paper studies, for the first time, the existence of psychological barriers in the market of cryptocurrencies.

Earlier research found that firms with the highest distress risk have low book‐to‐market (B/M) ratios and low returns. This paper aims to examine the robustness of those's results and provide further evidence that high distress‐risk firms do not enjoy the same high returns earned by high B/M firms and that distress risk is unlikely to explain the Fama and French high‐minus‐low (HML) B/M factor.

A distress‐risk measure, distressed‐minus‐solvent (DMS), is calculated and a range of zero investment distress‐risk trading strategies is investigated. Value‐ and equal‐weighted portfolios are examined both with negative book‐equity firms and without. These most distressed firms have low or negative B/M values and would either not be included in the Fama and French sample or included in the low B/M portfolio.

The paper finds that the DMS factor is negative and significant, and none of the zero investment strategies earns significantly positive returns.

The findings suggest that exposure to distress risk does not earns investors a positive risk premium. It appears that over the period examined, market inefficiencies drive the market value and returns of high distress‐risk firms.

The distress‐risk premium is shown to be negative and, therefore, cannot be driven by bankruptcy risk alone. The negative premium is not consistent with a financial distress explanation for the Fama and French HML factor.

This paper compares the provision and risk associated with the lack of safety measures in the student accommodations of a university in the Western Cape province, South Africa, with the aim of developing a guide to improve the provision of the safety measures.

The study adopted a case study research strategy. A questionnaire was used as an instrument to collect quantitative data, whereas an interview was conducted to collect qualitative data. Both descriptive (mean score) and inferential (paired t-test) statistics were used to analyse the quantitative data, whereas a content analysis was used to analyse the qualitative data.

Although most of the measures were provided, few critical measures were not adequate or not provided at all. Moreover, the mean scores obtained indicated that there were statistically significant differences between the provision and risk of non-provision of most of the measures. Weapon detector, closed-circuit television (CCTV), water sprinkler system, lift for disabled students, disabled toilet facility, burglar bar on doors, first aid box, medically trained personnel on post and accident logbook were identified as measures requiring urgent attention.

Data were collected only from one university; therefore, the findings of the research study may not be generalised. Thus, a study that can expand the number of participating universities is recommended.

The facilities department and safety unit can use the recommendations provided to improve the safety of the student accommodations. Policymakers could also benefit from the findings of the study.

There is dearth of studies focussing mainly on student accommodation security and safety measures from the infrastructure point of view. Thus, this article contributes to the body of knowledge in this area.

Using belief functions, this paper develops a model of the situation of a management team trying to decide if a cost process is in control, or out of control and, thus, in need of investigation. Belief functions allow accounting for uncertainty and information about the cost processes, extending traditional probability theory approaches. The purpose of this paper is to build and investigate the ramifications of that model. In addition, an example is used to illustrate the process.

This study aims to undertake a comprehensive examination of heat transfer by convection in porous systems with top and bottom walls insulated and differently heated vertical walls under a magnetic field. For a specific nanofluid, the study aims to bring out the effects of different segmental heating arrangements.

An existing in-house code based on the finite volume method has provided the numerical solution of the coupled nondimensional transport equations. Following a validation study, different explorations include the variations of Darcy–Rayleigh number (Ra_m = 10–10⁴), Darcy number (Da = 10^–5–10^–1) segmented arrangements of heaters of identical total length, porosity index (ε = 0.1–1) and aspect ratio of the cavity (AR = 0.25–2) under Hartmann number (Ha = 10–70) and volume fraction of φ = 0.1% for the nanoparticles. In the analysis, there are major roles of the streamlines, isotherms and heatlines on the vertical mid-plane of the cavity and the profiles of the flow velocity and temperature on the central line of the section.

The finding of a monotonic rise in the heat transfer rate with an increase in Ra_m from 10 to 10⁴ has prompted a further comparison of the rate at Ra_m equal to 10⁴ with the total length of the heaters kept constant in all the cases. With respect to uniform heating of one entire wall, the study reveals a significant advantage of 246% rate enhancement from two equal heater segments placed centrally on opposite walls. This rate has emerged higher by 82% and 249%, respectively, with both the segments placed at the top and one at the bottom and one at the top. An increase in the number of centrally arranged heaters on each wall from one to five has yielded 286% rate enhancement. Changes in the ratio of the cavity height-to-length from 1.0 to 0.2 and 2 cause the rate to decrease by 50% and increase by 21%, respectively.

Further research with additional parameters, geometries and configurations will consolidate the understanding. Experimental validation can complement the numerical simulations presented in this study.

This research contributes to the field by integrating segmented heating, magnetic fields and hybrid nanofluid in a porous flow domain, addressing existing research gaps. The findings provide valuable insights for enhancing thermal performance, and controlling heat transfer locally, and have implications for medical treatments, thermal management systems and related fields. The research opens up new possibilities for precise thermal management and offers directions for future investigations.

The workforce management model conceptualised for the effective management of the construction workforce was subjected to expert scrutiny to determine the suitability and applicability of the identified practices and their attributed variables to the construction industry. In achieving this, a Delphi approach was adopted using experts from construction organisations in South Africa. These experts comprised workforce management personnel and construction professionals in senior management positions. The data were analysed using appropriate statistical tools such as interquartile deviation, Kendell’s coefficient of concordance, and chi square to determine consensus among these experts. After a two-round Delphi, the seven constructs proposed in the conceptualised workforce management model were adjudged to be important and worthy of adoption by construction organisations seeking to improve workforce management in the current fourth industrial revolution era.

This study aims to elucidate the role of curved walls in the presence of identical mass of porous bed with identical heating at a wall for two heating objectives: enhancement of heat transfer to fluid saturated porous beds and reduction of entropy production for thermal and flow irreversibilities.

Two heating configurations have been proposed: Case 1: isothermal heating at bottom straight wall with cold side curved walls and Case 2: isothermal heating at left straight wall with cold horizontal curved walls. Galerkin finite element method is used to obtain the streamfunctions and heatfunctions associated with local entropy generation terms.

The flow and thermal maps show significant variation from Case 1 to Case 2 arrangements. Case 1 configuration may be the optimal strategy as it offers larger heat transfer rates at larger values of Darcy number, Da_m. However, Case 2 may be the optimal strategy as it provides moderate heat transfer rates involving savings on entropy production at larger values of Da_m. On the other hand, at lower values of Da_m (Da_m ≤ 10⁻³), Case 1 or 2 exhibits almost similar heat transfer rates, while Case 1 is preferred for savings of entropy production.

The concave wall is found to be effective to enhance heat transfer rates to promote convection, while convex wall exhibits reduction of entropy production rate. Comparison between Case 1 and Case 2 heating strategies enlightens efficient heating strategies involving concave or convex walls for various values of Da_m.

Mechanisms to adjust planned lead times based on current work loads are desirable for time‐phased planning systems. This paper investigates the use of exponentially smoothed order flow time feedback in setting planned lead times dynamically. The system studied is a supply chain with capacity‐constrained processing stations and transit times between stations. Lot sizes are based on the minimization of flow times using queuing approximations. Both seasonal and level demand patterns with uncertainty are considered. Since both dependent and independent demands are assumed at each station, customer delivery performance depends on the distribution of inventory along the supply chain. Results show that dynamic planned lead time setting can be used effectively to control delivery performance along the supply chain. Performance is also influenced significantly by appropriate lot size selection.