Search results

1 – 10 of 143

Abstract

Details

Responsible Investment Around the World: Finance after the Great Reset
Type: Book
ISBN: 978-1-80382-851-0

Book part
Publication date: 5 April 2024

Taining Wang and Daniel J. Henderson

A semiparametric stochastic frontier model is proposed for panel data, incorporating several flexible features. First, a constant elasticity of substitution (CES) production…

Abstract

A semiparametric stochastic frontier model is proposed for panel data, incorporating several flexible features. First, a constant elasticity of substitution (CES) production frontier is considered without log-transformation to prevent induced non-negligible estimation bias. Second, the model flexibility is improved via semiparameterization, where the technology is an unknown function of a set of environment variables. The technology function accounts for latent heterogeneity across individual units, which can be freely correlated with inputs, environment variables, and/or inefficiency determinants. Furthermore, the technology function incorporates a single-index structure to circumvent the curse of dimensionality. Third, distributional assumptions are eschewed on both stochastic noise and inefficiency for model identification. Instead, only the conditional mean of the inefficiency is assumed, which depends on related determinants with a wide range of choice, via a positive parametric function. As a result, technical efficiency is constructed without relying on an assumed distribution on composite error. The model provides flexible structures on both the production frontier and inefficiency, thereby alleviating the risk of model misspecification in production and efficiency analysis. The estimator involves a series based nonlinear least squares estimation for the unknown parameters and a kernel based local estimation for the technology function. Promising finite-sample performance is demonstrated through simulations, and the model is applied to investigate productive efficiency among OECD countries from 1970–2019.

Article
Publication date: 19 April 2024

Mahesh Gaikwad, Suvir Singh, N. Gopalakrishnan, Pradeep Bhargava and Ajay Chourasia

This study investigates the impact of the fire decay phase on structural damage using the sectional analysis method. The primary objective of this work is to forecast the…

Abstract

Purpose

This study investigates the impact of the fire decay phase on structural damage using the sectional analysis method. The primary objective of this work is to forecast the non-dimensional capacity parameters for the axial and flexural load-carrying capacity of reinforced concrete (RC) sections for heating and the subsequent post-heating phase (decay phase) of the fire.

Design/methodology/approach

The sectional analysis method is used to determine the moment and axial capacities. The findings of sectional analysis and heat transfer for the heating stage are initially validated, and the analysis subsequently proceeds to determine the load capacity during the fire’s heating and decay phases by appropriately incorporating non-dimensional sectional and material parameters. The numerical analysis includes four fire curves with different cooling rates and steel percentages.

Findings

The study’s findings indicate that the rate at which the cooling process occurs after undergoing heating substantially impacts the axial and flexural capacity. The maximum degradation in axial and flexural capacity occurred in the range of 15–20% for cooling rates of 3 °C/min and 5 °C/min as compared to the capacity obtained at 120 min of heating for all steel percentages. As the fire cooling rate reduced to 1 °C/min, the highest deterioration in axial and flexural capacity reached 48–50% and 42–46%, respectively, in the post-heating stage.

Research limitations/implications

The established non-dimensional parameters for axial and flexural capacity are limited to the analysed section in the study owing to the thermal profile, however, this can be modified depending on the section geometry and fire scenario.

Practical implications

The study primarily focusses on the degradation of axial and flexural capacity at various time intervals during the entire fire exposure, including heating and cooling. The findings obtained showed that following the completion of the fire’s heating phase, the structural capacity continued to decrease over the subsequent post-heating period. It is recommended that structural members' fire resistance designs encompass both the heating and cooling phases of a fire. Since the capacity degradation varies with fire duration, the conventional method is inadequate to design the load capacity for appropriate fire safety. Therefore, it is essential to adopt a performance-based approach while designing structural elements' capacity for the desired fire resistance rating. The proposed technique of using non-dimensional parameters will effectively support predicting the load capacity for required fire resistance.

Originality/value

The fire-resistant requirements for reinforced concrete structures are generally established based on standard fire exposure conditions, which account for the fire growth phase. However, it is important to note that concrete structures can experience internal damage over time during the decay phase of fires, which can be quantitatively determined using the proposed non-dimensional parameter approach.

Details

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

Keywords

Article
Publication date: 12 December 2023

Bhavya Srivastava, Shveta Singh and Sonali Jain

The present study assesses the commercial bank profit efficiency and its relationship to banking sector competition in a rapidly growing emerging economy, India from 2009 to 2019…

Abstract

Purpose

The present study assesses the commercial bank profit efficiency and its relationship to banking sector competition in a rapidly growing emerging economy, India from 2009 to 2019 using stochastic frontier analysis (SFA).

Design/methodology/approach

Lerner indices, conventional and efficiency-adjusted, quantify competition. Two SFA models are employed to calculate alternative profit efficiency (inefficiency) scores: the two-step time-decay approach proposed by Battese and Coelli (1992) and the recently developed single-step pairwise difference estimator (PDE) by Belotti and Ilardi (2018). In the first step of the BC92 framework, profit inefficiency is calculated, and in the second step, Tobit and Fractional Regression Model (FRM) are utilized to evaluate profit inefficiency correlates. PDE concurrently solves the frontier and inefficiency equations using the maximum likelihood process.

Findings

The results suggest that foreign banks are less profit efficient than domestic equivalents, supporting the “home-field advantage” hypothesis in India. Further, increasing competition drives bank managers to make riskier lending and investment choices, decreasing bank profit efficiency. However, this effect varies depending on bank ownership and size.

Originality/value

Literature on the competition bank efficiency link is conspicuously scant, with a focus on technical and cost efficiency. Less is known regarding the influence of competition on bank profit efficiency. The article is one of the first to examine commercial bank profit efficiency and its relationship to banking sector competition. Additionally, the study work represents one of the first applications of the FRM presented by Papke and Wooldridge (1996) and the PDE provided by Belotti and Ilardi (2018).

Details

Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 1 February 2024

Jianlan Zhong, Han Cheng and Fu Jia

Despite its crucial role in ensuring food safety, traceability remains underutilized by small and medium-sized enterprises (SMEs), a vital component of China’s agricultural supply…

Abstract

Purpose

Despite its crucial role in ensuring food safety, traceability remains underutilized by small and medium-sized enterprises (SMEs), a vital component of China’s agricultural supply chain, thereby compromising the integrity of the supply chain traceability system. Therefore, this study sets out to explore the factors influencing SMEs’ adoption of traceability systems and the impact of these factors on SMEs’ intent to adopt such systems. Furthermore, the study presents a model to deepen understanding of system adoption in SMEs and provides a simulation demonstrating the evolutionary trajectory of adoption behavior.

Design/methodology/approach

This study considers the pivotal aspects of system adoption in SMEs, aiming to identify the influential factors through a grounded theory-based case study. Concurrently, it seeks to develop a mathematical model for SMEs’ adoption patterns and simulate the evolution of SMEs’ adoption behaviors using the Q-learning algorithm.

Findings

The adoption of traceability among SMEs is significantly influenced by factors such as system attributes, SMEs’ capability endowment, environmental factors and policy support and control. However, aspects of the SMEs’ capability endowment, specifically their learning rate and decay rate, have minimal impact on the adoption process. Furthermore, group pressure can expedite the attainment of an equilibrium state, wherein all SMEs adopt the system.

Originality/value

This study fills the existing knowledge gap about the adoption of traceability by SMEs in China’s agricultural supply chain. This study represents the pioneer study that identifies the factors influencing SMEs’ adoption and examines the effects of these factors on their traceability adoption, employing a multi-methodological approach that incorporates grounded theory, mathematical modeling and the Q-learning algorithm.

Details

Industrial Management & Data Systems, vol. 124 no. 3
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 11 March 2024

Vipin Gupta, Barak M.S. and Soumik Das

This paper addresses a significant research gap in the study of Rayleigh surface wave propagation within a piezoelectric medium characterized by piezoelectric properties, thermal…

Abstract

Purpose

This paper addresses a significant research gap in the study of Rayleigh surface wave propagation within a piezoelectric medium characterized by piezoelectric properties, thermal effects and voids. Previous research has often overlooked the crucial aspects related to voids. This study aims to provide analytical solutions for Rayleigh waves propagating through a medium consisting of a nonlocal piezo-thermo-elastic material with voids under the Moore–Gibson–Thompson thermo-elasticity theory with memory dependencies.

Design/methodology/approach

The analytical solutions are derived using a wave-mode method, and roots are computed from the characteristic equation using the Durand–Kerner method. These roots are then filtered based on the decay condition of surface waves. The analysis pertains to a medium subjected to stress-free and isothermal boundary conditions.

Findings

Computational simulations are performed to determine the attenuation coefficient and phase velocity of Rayleigh waves. This investigation goes beyond mere calculations and examines particle motion to gain deeper insights into Rayleigh wave propagation. Furthermore, this investigates how kernel function and nonlocal parameters influence these wave phenomena.

Research limitations/implications

The results of this study reveal several unique cases that significantly contribute to the understanding of Rayleigh wave propagation within this intricate material system, particularly in the presence of voids.

Practical implications

This investigation provides valuable insights into the synergistic dynamics among piezoelectric constituents, void structures and Rayleigh wave propagation, enabling advancements in sensor technology, augmented energy harvesting methodologies and pioneering seismic monitoring approaches.

Originality/value

This study formulates a novel governing equation for a nonlocal piezo-thermo-elastic medium with voids, highlighting the significance of Rayleigh waves and investigating the impact of memory.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 34 no. 4
Type: Research Article
ISSN: 0961-5539

Keywords

Article
Publication date: 19 February 2024

Ambra Poggi

The aim of this paper is to empirically investigate whether social contacts can mediate the way in which current unemployment impacts future unemployment.

Abstract

Purpose

The aim of this paper is to empirically investigate whether social contacts can mediate the way in which current unemployment impacts future unemployment.

Design/methodology/approach

We use 2006–2017 data from the Household Income and Labour Dynamics in Australia (HILDA) survey and a dynamic random-effects model to describe the evolution of individual unemployment status over time.

Findings

Once controlled for the local context where individuals live and create friendships, we find that above-average social contacts reduce unemployment persistence. However, social contacts seem to be slightly less effective in deprived neighborhoods. These findings are consistent with the idea that individuals obtain information about job opportunities through a network of social contacts, and unemployment may lead to a decay of social capital, making it more difficult to find employment in future periods. Our results also show that neighborhood deprivation increases individual unemployment risk, while above-average neighborhood cohesion reduces the probability of unemployment in deprived neighborhoods.

Originality/value

Although many studies have been published on unemployment persistence, to the best of the author's knowledge, this is the first study quantifying the impact of social contacts on unemployment persistence. The study also offers fresh empirical evidence on the impact of neighborhood characteristics on unemployment risk.

Details

International Journal of Manpower, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0143-7720

Keywords

Article
Publication date: 18 December 2023

Leiming Geng, Ruihua Zhang and Weihua Liu

It is an indispensable part of airworthiness certification to evaluate the fuel tank flammability exposure time for transport aircraft. There are many factors and complex coupling…

Abstract

Purpose

It is an indispensable part of airworthiness certification to evaluate the fuel tank flammability exposure time for transport aircraft. There are many factors and complex coupling relationships affecting the fuel tank flammability exposure time. The current work not only lacks a comprehensive analysis of these factors but also lacks the significance of each factor, the interaction relationship and the prediction method of flammability exposure time. The lack of research in these aspects seriously restricts the smooth development of the airworthiness forensics work of domestic large aircraft. This paper aims to clarify the internal relationship between user input parameters and predict the flammability exposure time of fuel tanks for transport aircraft.

Design/methodology/approach

Based on the requirements of airworthiness certification for large aircraft, an in-depth analysis of the Monte Carlo flammability evaluation source procedures specified in China Civil Aviation Regulation/FAR25 airworthiness regulations was made, the internal relationship between factors affecting the fuel tank flammability exposure time was clarified and the significant effects and interactions of input parameters in the Monte Carlo evaluation model were studied using the response surface method. And the BP artificial neural network training samples with high significance factors were used to establish the prediction model of flammability exposure time.

Findings

The input parameters in the Monte Carlo program directly or indirectly affect the fuel tank flammability exposure time by means of the influence on the flammability limit or fuel temperature. Among the factors affecting flammability exposure time, the cruising Mach number, balance temperature difference and maximum range are the most significant, and they are all positively correlated with flammability exposure time. Although there are interactions among all factors, the degree of influence on flammability exposure time is not the same. The interaction between maximum range and equilibrium temperature difference is more significant than other factors. The prediction model of flammability exposure time based on multifactor interaction and BP neural network has good accuracy and can be applied to the prediction of fuel tank flammability exposure time.

Originality/value

The flammability exposure time prediction model was established based on multifactor interaction and BP neural network. The limited test results were combined with intelligent algorithm to achieve rapid prediction, which saved the test cost and time.

Details

Aircraft Engineering and Aerospace Technology, vol. 96 no. 2
Type: Research Article
ISSN: 1748-8842

Keywords

Article
Publication date: 31 July 2023

Syed Sohaib Zafar, Aurang Zaib, Farhan Ali, Fuad S. Alduais, Afrah Al Bossly and Anwar Saeed

The modern day has seen an increase in the prevalence of the improvement of high-performance thermal systems for the enhancement of heat transmission. Numerous studies and…

Abstract

Purpose

The modern day has seen an increase in the prevalence of the improvement of high-performance thermal systems for the enhancement of heat transmission. Numerous studies and research projects have been carried out to acquire an understanding of heat transport performance for their functional application to heat conveyance augmentation. The idea of this study is to inspect the entropy production in Darcy-Forchheimer Ree-Eyring nanofluid containing bioconvection flow toward a stretching surface is the topic of discussion in this paper. It is also important to take into account the influence of gravitational forces, double stratification, heat source–sink and thermal radiation. In light of the second rule of thermodynamics, a model of the generation of total entropy is presented.

Design/methodology/approach

Incorporating boundary layer assumptions allows one to derive the governing system of partial differential equations. The dimensional flow model is transformed into a non-dimensional representation by applying the appropriate transformations. To deal with dimensionless flow expressions, the built-in shooting method and the BVP4c code in the Matlab software are used. Graphical analysis is performed on the data to investigate the variation in velocity, temperature, concentration, motile microorganisms, Bejan number and entropy production concerning the involved parameters.

Findings

The authors have analytically assessed the impact of Darcy Forchheimer's flow of nanofluid due to a spinning disc with slip conditions and microorganisms. The modeled equations are reset into the non-dimensional form of ordinary differential equations. Which are further solved through the BVP4c approach. The results are presented in the form of tables and figures for velocity, mass, energy and motile microbe profiles. The key conclusions are: The rate of skin friction incessantly reduces with the variation of the Weissenberg number, porosity parameter and Forchheimer number. The rising values of the Prandtl number reduce the energy transmission rate while accelerating the mass transfer rate. Similarly, the effect of Nb (Brownian motion) enhances the energy and mass transfer rates. The rate of augments with the flourishing values of bioconvection Lewis and Peclet number. The factor of concentration of microorganisms is reported to have a diminishing effect on the profile. The velocity, energy and entropy generation enhance with the rising values of the Weissenberg number.

Originality/value

According to the findings of the study, a slip flow of Ree-Eyring nanofluid was observed in the presence of entropy production and heat sources/sinks. There are features when the implementations of Darcy–Forchheimer come into play. In addition to that, double stratification with chemical reaction characteristics is presented as a new feature. The flow was caused by the stretching sheet. It has been brought to people's attention that although there are some investigations accessible on the flow of Ree-Eyring nanofluid with double stratification, they are not presented. This research draws attention to a previously unexplored topic and demonstrates a successful attempt to construct a model with distinctive characteristics.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 34 no. 2
Type: Research Article
ISSN: 0961-5539

Keywords

Article
Publication date: 9 June 2023

Haylim Chha and Yongbo Peng

In real life, excitations are highly non-stationary in frequency and amplitude, which easily induces resonant vibration to structural responses. Conventional control algorithms in…

3073

Abstract

Purpose

In real life, excitations are highly non-stationary in frequency and amplitude, which easily induces resonant vibration to structural responses. Conventional control algorithms in this case cannot guarantee cost-effective control effort and efficient structural response alleviation. To this end, this paper proposes a novel adaptive linear quadratic regulator (LQR) by integrating wavelet transform and genetic algorithm (GA).

Design/methodology/approach

In each time interval, multiresolution analysis of real-time structural responses returns filtered time signals dominated by different frequency bands. Minimization of cost function in each frequency band obtains control law and gain matrix that depend on temporal-frequency band, so suppressing resonance-induced filtered response signal can be directly achieved by regulating gain matrix in the temporal-frequency band, leading to emphasizing cost-function weights on control and state. To efficiently subdivide gain matrices in resonant and normal frequency bands, the cost-function weights are optimized by a developed procedure associated to genetic algorithm. Single-degree-of-freedom (SDOF) and multi-degree-of-freedom (MDOF) structures subjected to near- and far-fault ground motions are studied.

Findings

Resonant band requires a larger control force than non-resonant band to decay resonance-induced peak responses. The time-varying cost-function weights generate control force more cost-effective than time-invariant ones. The scheme outperforms existing control algorithms and attains the trade-off between response suppression and control force under non-stationary excitations.

Originality/value

Proposed control law allocates control force amounts depending upon resonant or non-resonant band in each time interval. Cost-function weights and wavelet decomposition level are formulated in an elegant manner. Genetic algorithm-based optimization cost-efficiently results in minimizing structural responses.

1 – 10 of 143