Search results

To maintain the well integrity, the strength and sealing ability of premium connection should be in the safe scope. ISO 13679 is widely used for evaluating the ability of tubing and casing connection all over the world. FE is adopted to simulate the ISO 13679 tests.

Because of the disadvantage of experiment such as long period, high cost and high requirement on the facility, considering the convenience and universality of finite element method, as well as the contacting nonlinearity and material nonlinearity, three-dimensional finite element model of a certain type of premium connection is established with the consideration of helix angle. The loads exerted on the premium connection are the loads in series B test and thermal cycle test of ISO 13679. The distributions of Von Mises stress and contact pressure in various cases were studied.

The results showed that the bending load has a great influence on the distribution of Von Mises stress and contact pressure for premium connection. The Von Mises stress and contact pressures on the sealing surface are smaller on the tension side and greater on the compression side. With increasing axial compression load, the contact pressures on the tension side are too small, which may lead to sealing failure. The influence of temperature on the performance of premium connection cannot be ignored when choosing or designing premium connections. Both the Von Mises stress and contact pressure decrease slightly during a period of thermal cycle. Although the performance of the premium connection is good in a period of thermal cycle, its performance in a long period should be evaluated. Finite element simulation can effectively simulate the ISO 13679 test procedure and obtain the stress and contact pressure distribution. It can be used as a reference for evaluating the performance of premium connections.

Considering the convenience and universality of finite element method, as well as the contacting nonlinearity and material nonlinearity, three-dimensional finite element model of a certain type of premium connection is established with the consideration of helix angle.

The purpose of this paper is to investigate how foreign and domestic investors differ in their beliefs about the relative merits of a firm's political connections.

These differences are employed to explain cross-sectional variation in the previously documented premium in A-share prices relative to otherwise equivalent foreign currency denominated B-shares for Chinese firms.

Chinese domestic individual investors were excluded from owning B-shares of Chinese firms prior to February 20, 2001. The authors find that firms with more political connections have higher premiums and a smaller reduction in premiums associated with this event.

This is consistent with domestic block holders deriving additional benefits from politically connected firms.

The findings also have important policy implications by showing that government can have a strong effect on the economy even without applying macro-policy tools.

Government ownership in listed companies can result in discrepancies among classes of investors with respect to their valuations. Furthermore, the prohibition of short sales prevents arbitrage from correcting this bias, and eventually the role of the market in allocating resources efficiently is undermined.

The authors investigate the role of political connections as implied by the proportion of state ownership in explaining the A-share premium. Unlike previous studies that associate state ownership with political risk, the paper relates state ownership to political connections that are particularly beneficial to domestic large block shareholders. This interpretation is consistent with the findings and with previous literature on state ownership and political connections of Chinese firms.

The purpose of this paper is to investigate whether ex ante board connections and director retention result in agency costs to target company shareholders in the form of reduced payment in mergers and acquisitions transaction.

The authors employ detailed data of ex ante board connection and director retention in the mergers and acquisition in the UK from 1999 to 2015. Ex ante board connections are measured as proportion of target and acquirer companies’ directors worked on the same board at any time prior to the takeover, while director retention is measured as proportion of target companies’ directors remains on board after the takeover is completed. For mergers and acquisition payment characteristics, the authors examine takeover premium, cash payment percentage and offer price adjustment.

The authors find that ex ante board connections and director retention lead to reduced offer prices and lower proportions of cash payment. Notably, when there is no connection and target directors are not retained, the authors find that the bidding companies increase their final offer by £14m more than in other scenarios. The authors also document strong evidence that ex ante board connections lead to a higher probability of director retention.

The paper highlights that ex ante board connections and director retention will lead to a significant cost on target company shareholders. The authors recommend that a more detailed set of information on ex ante board connections and intended target board retention should be disclosed.

The purpose of this paper is to develop a capped barrier option framework to consider the politically preferential treatment for bank loans incentivized by government capital injections and calculate loan-risk sensitive insurance premiums.

This paper takes a capped barrier option approach to the market valuation of the equity of the bank and the liability of the deposit insurer. The cap demonstrates the dynamics of a politically connected borrowing firm’s asset and highlights the truncated nature of loan payoffs. The barrier addresses that default can occur at any time before the maturity date. The bank participating in a government capital injection program is required to fund the politically connected firm that has preferential access to financing.

Political connection as such makes the bank more prone to risk taking at a reduced interest margin, produces greater safety for the bank owing to government capital injections, and leads to increasing the fair deposit insurance premium. The positive effect of political connection on the deposit insurance premium, which ignores the cap and the barrier yields significant over-estimation.

The study on the politically connected borrowing firm shows that political connection is likely to affect the distressed bank’s performance, yielding the political-connection cost of a reduced bank interest margin and the political-connection benefit of a reduced bank equity risk, contributing the literature on political connection and bank bailout.

This study aims to increase the understanding of the emergence of a values-based (VB) premium private label (PL) brand reputation within a multiple-tier PL brand portfolio in retailing.

By building on the research on PLs, brand image, brand reputation and consumer values, this study creates a conceptual foundation for the emergence of VB PL brand reputation within a multiple-tier brand portfolio among consumers and examines the emergence of such reputation empirically using interpretive exploratory qualitative laddering interviews in the context of fast-moving consumer goods.

The findings of this study illustrate that the VB reputations of the premium PL product brand and the PL brand store intertwine, ultimately relating to two terminal values: pleasure and doing good. These reputations differ remarkably from the VB reputations of the economy PL brand and the umbrella brand of the retail chain (not doing good and financial security).

This study explains the emergence of VB brand reputation within a multiple-tier brand portfolio and introduces the use of the laddering technique in such research.

This study reminds brand managers to carefully design the relevant brand strategy for brands and their relationships under a brand umbrella.

Although much is known about PL brands and brand reputation, to the best of the authors’ knowledge, this study might be the first to increase the understanding of how a VB premium PL brand reputation emerges and accumulates from brand images within a multiple-tier brand portfolio.

This paper aims to investigate the key characteristics of parent brands and the relationships among customer perceived value (a second-order construct containing financial, functional, individual and social attributes), parent brand loyalty and the willingness to pay for a premium extended brand. Moreover, the moderating effect of self–brand integration on the influences in the model is examined.

Data were collected in two countries, the USA (n = 535) and China (n = 511), through an online survey. Structural equation modeling and a multi-group analysis were used to analyze the data.

The results show that perceived quality and premium brand authenticity are two important predictors of perceived value. The relationships among perceived value, parent brand loyalty and willingness to pay for an extended premium brand were significantly supported. In addition, self–brand integration was found to moderate the relationship between perceived value and loyalty to the parent brand.

Wine marketers and managers can use recommendations to establish effective brand extension strategies to help the industry know what essential characteristics of a parent brand to focus on and maintain sustainable development through the customer–extended brand relationship.

Previous researchers have discussed wine consumption behaviors or branding strategies. By limiting combining two theories (flow theory and the theory of planned behavior), this paper proposes a chain of behaviors to optimize customer experience to develop a brand extension strategy based on key characteristics of the parent brand.

This paper aims to study the predictors influencing hijabista satisfaction towards Hijab fashion brands and their willingness to pay premium pricing as fashion consumers. The effects of product design, product quality, social and self-identity have been studied in relation to product, and brand satisfaction is believed to have led to acceptance of premium pricing. Various factors have been studied and analysed to provide a better understanding of Hijab fashion consumer behaviour.

Data were collected by using online structured surveys distributed within the area of Shah Alam City in Malaysia. Convenience sampling was used in defining the 223 target respondents, and the collected data was analysed using Smart-PLS Software.

The results highlighted that product design has the largest influence on the willingness of hijabistas in paying premium prices, followed by products that reflect their social-identity while communicating their religious obligations and commitments. Communicating one’s self-identity was also found not to have a significant impact which relates to the importance of the religious and social commitments on hijabista purchasing choices rather than their own self-conceptual image.

This paper provides insights on the factors that affect hijabista satisfaction towards Hijab fashion products and brands. Conclusions provided are very relevant to the practices of the fashion industry, and in particular, for designers to understand the needs of this large and significant segment of the fashion market.

Hijab fashion is a growing segment in the fashion industry, and it has been gaining recent global attention. Designers need to be more aware of the requirements of this segment of the fashion market. This research focusses on Hijab consumer satisfaction and how this reflects their willingness to pay premium prices for chosen products and brands. Factors such as product design and quality, along with social and self-identity, were studied in connection with hijabista willingness to accept premium pricing. Such connections and terms have not been covered in previous literature.

The purpose of this paper is to examine the influence of bilateral political relations on the completion stage premium of cross-border mergers and acquisitions(CSPCMA) and the moderating roles of cultural distance, trade openness and the nature of firm ownership for this relationship.

Based on a sample of 401 cross-border mergers and acquisitions (M&A) conducted by Chinese companies from 1995 to 2019 in the Statistical Data Center (SDC), this article used weighted least squares (WLS) to empirically test the impact of bilateral political relations between countries on the CSPCMA.

The better the target country of entry’s bilateral political relations with China, the lower the premium of the transaction price paid by Chinese companies at the completion stage of cross-border M&A. Among the moderators, the study found cultural distance positively moderates the relationship between bilateral political relations between countries and CSPCMA. The degree of trade openness of the target country negatively moderates the relationship between bilateral political relations between countries and CSPCMA. The negative relationship between bilateral political relations between countries and CSPCMA is stronger when the acquirer is a state-owned enterprise (SOE).

The findings of this study not only add to the knowledge about the relationship between bilateral political relations and corporate cross-border M&A premiums, but also have managerial implications for Chinese corporate managers to sustainably reduce corporate cross-border M&A premiums.

There is little known globally on the association among the independent shareholder, board size and merger and acquisition (M&A) performance. This paper addresses the global issue about cross-border M&A in banking sector, particularly exploring the role of difference in the independent shareholder and board size between acquirer and target banks on synergy gains based on the international study.

Based on cross-border bank M&As data on 59 deals from 1995 to 2009, we initially apply social network analysis techniques to explore the country connectedness of the acquirer-target banks in cross-border M&As. Ordinary least squares (OLS) with robust standard errors is further used to investigate synergy gains within the difference in the degree of bank independent shareholder and board sizes between the acquirer and target banks.

Our results indicate that the acquiring banks are generally interconnected with the targeted banks and that some of acquiring banks are clearly concentrated in Asian countries including China, Hong Kong, and Philippines. Moreover, we find that cross-border M&As with larger difference in independent shareholders between the bidder and target bank would result in higher synergy gains in all cases of takeover premiums on 1 day, 1 week and 4 weeks. In addition, financial differences between the bidder and target banks have a significant impact on synergetic gains, a topic not explored in previous studies. There is no evidence that institutional and governance differences between bidder and target bank have significant cross-border impacts on takeover premiums with respect to 1 day, 1 week and 4 weeks, respectively.

This paper contributes to the literature by exploring the international issue about the role of difference in the degree of bank independent shareholder and board sizes between acquirer and target banks on synergy gains. Based on bank cross-border M&As data on 59 deals from 1995 to 2009, we initially apply social network analysis to explore the country connectedness of acquirer-target bank in cross-border M&As, while ten ordinary least squares (OLS) with robust standard errors is used to investigate synergy gains within the difference in the degree of bank independent shareholder and board sizes between acquirer and target banks.

This paper aims to approach the issue of premium offers in Italy by discussing the case study of Fabbri, a firm operating since 1905 in the business of liqueurs, syrups and semi-manufactured products for ice cream.

The research takes into analysis three marketing schemes, all related to direct premium promotions, adopted by Fabbri at various times during the twentieth century. The evolution of the company’s marketing strategy is outlined drawing on several types of sources: archive documents, posters and labels and audiovisual material. It is analysed in the socio-economic and legal context of twentieth century Italy, and in comparison with premium offers in the USA and Europe.

The study argues that direct premium may represent a long-lasting and efficient marketing strategy when a firm is able to adapt it to a context that changes over time. Fabbri not only used premium offers to launch its products but also to consolidate its brand image.

By showing that innovative promotions are not necessarily connected to large firms, Fabbri’s case suggests that further research should be carried out to outline marketing policies carried out by small to medium enterprises.

Much has been written on premium offers in the USA and in Europe, but very little on such types of promotions in Italy, especially with reference to direct premiums. This study fills this gap and documents that a small family-owned firm was able to carry out innovative marketing policies as far as in the 1920s.