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This paper aims to examine the current practice in Singapore regarding an inheritance issue: disposal of the residual net estate to the bayt al-māl, which is identified as the Islamic Religious Council of Singapore (Majlis Ugama Islam Singapura, MUIS). The issue arises when the deceased leaves farḍ (fixed-share) heir(s) and/or dhawū al-arḥām (outer family members) but there is no ʿaṣabah (agnatic residuary heir by blood). Farḍ legal heirs are those beneficiaries for whom the Qurʾān prescribes inheritance of a pre-determined share. Disposal of the residual net estate to the bayt al-māl results in a reduction in the share due to the farḍ legal heir or worse, a total loss to the dhawū al-arḥām legal heirs.

A qualitative approach based on library and case study research has been adopted to elaborate practices that fall under the purview of the Administration of Muslim Law Acts (AMLA), Chapter 3.

The current practice seems biased against, especially, women and spouses. It creates high dissatisfaction in the community, especially those affected by such practices. This paper elaborates on the practice of residual net estate distribution in Singapore and the contemporary practices of the four Sunni madh-habs – the Ḥanafī, Mālikī, Shāfiʿī and Ḥanbalī jurisprudential schools – in other countries.

In Singapore, Muslim law is defined and implemented by the civil court, not the Syariah Court or MUIS. The recommendation to change from the current classical practice by the Syariah Court and MUIS to the contemporary practice that is relevant to today’s context lies with the civil court and Government of Singapore. The choice for the Syariah Court and MUIS to adopt the contemporary practice as per Ḥanafī School by rule of the court or the government is beyond this research. Zayd ibn Thābit, Caliph Abū Bakr and a small number of companions held the view that the residue net estate asset must go to the bayt al-māl, the current classical practice. The contemporary practice adopted by Sayyidina ʿUthmān ibn ʿAffān, Jābir ibn Zayd and majority of the companions’ view, is not in favour of the residue net estate asset to go to the bayt al-māl; rather they view that it must be returned to the legal heirs.

Awareness in the community in the current controversial practice in Singapore when the residue net estate through the farāʾiḍ law was giving to bayt al-māl instead of returning to farḍ or dhawū al-arḥām in the absence of the ʿaṣabah legal heir as stated in the Inheritance Certificate issued by Syariah Court.

To understand the contemporary Muslim law and the practical and just application in today’s Singapore context as supported by the AMLA, Chapter 3.

This is the first study that challenges the current practice by the Syariah Court and MUIS in Singapore, thereby endeavouring to restore justice to the community.

This study will examine the impact of cash dividends on the market value of banks listed in Middle East and North African (MENA) emerging countries during the period 2000–2015.

The current study adopts residual income approach based on Ohlson's (1995) valuation model. By testing different statistical techniques, fixed effect is applied on panel data for (144) banks listed on 11 MENA stock markets over the period 2000–2015. Furthermore, additional tests are applied to confirm the primary results.

The analysis reveals that current dividend payouts and dividend yield do not provide information relevant to the establishment of market values in MENA emerging markets; thus, they have no material impact on MENA banks' market values. This lack of current dividend payment effect is consistent with Miller and Modigliani (1961) dividend irrelevance assumption: there is no evidence of either an informational or real cash inflow effect of current dividend payments. The findings of this study can be attributed to the fact that MENA banks may be forced to place more emphasis on allocating money for investment instead of paying dividends given them they are subject to liquidity requirements for investment, expansion, general operations and compliance with regulations. Only after all these financial needs are covered can the remaining surplus be distributed as cash dividends. Therefore, cash dividends represent earnings residual rather than an active decision variable that impacts a firm's market value. This is consistent with the residual dividend hypothesis, which is the crux of Miller and Modigliani (1996) irrelevance theory of dividends.

The current study is restricted to a sample of one type of financial firms, banks, because of the problem of missing data and limited information related to other financial firms for the same period. Therefore, further research could be additional types of financial firms such as insurance firms that play a vital role in MENA emerging economies.

The results of this study have some important implications for banks' dividend policymakers. Dividend policymakers in MENA emerging markets seem to follow residual dividend policy, in which they distribute dividends according to what is left over after all acceptable investment opportunities have been undertaken. This makes for inconsistent and unstable dividend policy trends, making it difficult for investors to predict future dividend decisions. Further, this practice may deliver information to shareholders about a lack of positive future investment opportunities, and this may negatively affect the share value of banks.

This study is the first of its kind – up to the author's knowledge – that examines a large cross-country sample of MENA banks (144) to cover a long time period in the recent past, and, more importantly, after the banking sector in the region has experienced major transformations during last two decades. In addition, most of the MENA region countries included in this study, namely, banks, operate in tax-free environments (there are neither taxes on dividends nor on capital gains). This feature adds complexity to the ongoing dividend debate.

The purpose is using generative adversarial network (GAN) to solve the problem of sample augmentation in the case of imbalanced bearing fault data sets and improving residual network is used to improve the diagnostic accuracy of the bearing fault intelligent diagnosis model in the environment of high signal noise.

A bearing vibration data generation model based on conditional GAN (CGAN) framework is proposed. The method generates data based on the adversarial mechanism of GANs and uses a small number of real samples to generate data, thereby effectively expanding imbalanced data sets. Combined with the data augmentation method based on CGAN, a fault diagnosis model of rolling bearing under the condition of data imbalance based on CGAN and improved residual network with attention mechanism is proposed.

The method proposed in this paper is verified by the western reserve data set and the truck bearing test bench data set, proving that the CGAN-based data generation method can form a high-quality augmented data set, while the CGAN-based and improved residual with attention mechanism. The diagnostic model of the network has better diagnostic accuracy under low signal-to-noise ratio samples.

A bearing vibration data generation model based on CGAN framework is proposed. The method generates data based on the adversarial mechanism of GAN and uses a small number of real samples to generate data, thereby effectively expanding imbalanced data sets. Combined with the data augmentation method based on CGAN, a fault diagnosis model of rolling bearing under the condition of data imbalance based on CGAN and improved residual network with attention mechanism is proposed.

The study investigated the relationship between residual audit fee and real income smoothening, proxied as real operating cash flow and production expenditure smoothing of non-financial firms in Nigeria.

The study relied on secondary data from annual financial statements of 75 firms in the non-financial sector from 2010 to 2019. The study estimated the residual audit fee using a modified model from several contexts to suit the Nigerian environment. The hypotheses were tested using the dynamic panel GMM estimation procedure.

The results showed a significant negative effect of residual audit fee on (real) operating cash flow smoothing and production expenditure smoothing of non-financial firms. The control variables showed mixed effects for the industry-related (firm size and profitability), auditor attribute (audit quality and audit report lag) and the board related (board size and board independence).

The firms included in the analysis were selected based on data availability from MachameRatios® and the occurrence of missing values for some of the variables used in the various estimation models may bias results.

The study identifies the nexus between RAF and real earnings management practices of non-financial firms; and shows the implication of fee payment to the overall conduct of the audit. More so, the mixed findings from the CVs suggest that in the context of developing economies, shareholders and capital markets regulators should be watchful of residual audit fees and utilise it as a gauge for audit quality and also an indicator of opportunism and weak internal control in the firm in the future assessments.

The implication of the study stems from its relevance to the capital market stability and the potential negative disastrous effect of corporate failure from earnings management practices.

The study develops a newly residual audit fee model to explore the effect of RAF on real income smoothing rather than the widely used models from prior literature; secondly, the focus on real activities manipulation may present additional evidence that applies to developing countries rather the widely used accrual measurement technique from an economic bonding perspective.

This paper aims to present an investigation into the variation of scan vector hatch rotation strategies in selective laser melting (SLM), focussing on how it effects density, surface roughness, tensile strength and residual stress.

First the optimum angle of hatch vector rotation is proposed by analysing the effect of different increment angles on distribution of scan vectors. Sectioning methods are then used to determine the effect that the chosen strategies have on the density of the parts. The top surface roughness was analysed using optical metrology, and the tensile properties were determined using uni-axial tensile testing. Finally, a novel multi-support deflection geometry was used to quantify the effects of rotation angles on residual stress.

The results of this research showed that the hatch rotation angle had little effect on the density, top surface roughness and strength of the parts. The greatest residual stress deflection was measured parallel to unidirectional scan vectors. The use of hatch rotations other than alternating 90° showed little benefit in lowering the magnitude of residual stresses. However, the use of rotation angles with a good suitability measure distributes stresses in all directions more evenly for certain part geometries.

All samples produced in this work were made from commercially pure titanium, therefore care must be taken when applying these results to other materials.

This paper serves to increase the understanding of SLM scanning strategies and their effect on the properties of the material.

Steer-by-wire (SBW) system mainly relies on sensors, controllers and motors to replace the traditionally mechanical transmission mechanism to realize steering functions. However, the sensors in the SBW system are particularly vulnerable to external influences, which can cause systemic faults, leading to poor steering performance and even system instability. Therefore, this paper aims to adopt a fault-tolerant control method to solve the safety problem of the SBW system caused by sensors failure.

This paper proposes an active fault-tolerant control framework to deal with sensors failure in the SBW system by hierarchically introducing fault observer, fault estimator, fault reconstructor. Firstly, the fault observer is used to obtain the observation output of the SBW system and then obtain the residual between the observation output and the SBW system output. And then judge whether the SBW system fails according to the residual. Secondly, dependent on the residual obtained by the fault observer, a fault estimator is designed using bounded real lemma and regional pole configuration to estimate the amplitude and time-varying characteristics of the faulty sensor. Eventually, a fault reconstructor is designed based on the estimation value of sensors fault obtained by the fault estimator and SBW system output to tolerate the faulty sensor.

The numerical analysis shows that the fault observer can be rapidly activated to detect the fault while the sensors fault occurs. Moreover, the estimation accuracy of the fault estimator can reach to 98%, and the fault reconstructor can make the faulty SBW system to retain the steering characteristics, comparing to those of the fault-free SBW system. In addition, it was verified for the feasibility and effectiveness of the proposed control framework.

As the SBW fault diagnosis and fault-tolerant control in this paper only carry out numerical simulation research on sensors faults in matrix and laboratory/Simulink, the subsequent hardware in the loop test is needed for further verification.

Aiming at the SBW system with parameter perturbation and sensors failure, this paper proposes an active fault-tolerant control framework, which integrates fault observer, fault estimator and fault reconstructor so that the steering performance of SBW system with sensors faults is basically consistent with that of the fault-free SBW system.

Contemporary supply chain relationships inherently rely on delegation of work between organizations and, thus, are subject to agency problems for which a wide range of governance mechanisms exist. This review of agency theory (AT), across four distinct fields, explains the connection between governance mechanisms and supply chain relationship types.

The study uses a systematic literature review (SLR) of articles using AT in a supply chain context from the operations and supply chain management, general management, marketing, and economics fields.

The authors categorize the governance mechanisms identified to create a typology of agency relationships in supply chains.

The developed typology provides parsimonious theory on different forms of supply chain agency relationships and takes a step towards a “supply chain-oriented agency theory” explaining and predicting relationship types and governance in supply chains. Furthermore, a future research agenda calls for more accurate measuring of agency costs, to examine residual gains alongside residual losses, to take a dual-sided perspective of agency relations and to adopt AT to examine more complex supply networks.

The review provides a menu of governance mechanisms and describes situations under which these mechanisms could be deployed to guide managers when developing their supply chain relationships.

The first review to combine and elaborate views from four major disciplines using AT as a lens to supply chain relationships. Expanding the traditional set of governance mechanisms provides academics and practitioners with a bigger “menu” of options to consider.

This research provides some evidence by the vine copula approach, suggesting the significant and symmetric causal relation between subsections of Baltic Exchange and hence concluding that investing in different indexes, which is currently a risk diversification system, is not a correct risk reduction strategy.

The daily observations of Baltic Capesize Index (BCI), Baltic Handysize Index (BHSI), Baltic Dirty Tanker Index (BDTI) and Baltic LNG Tanker Index (BLNG) over an eight-year period have been used. After collecting data, calculating the return and estimating the marginal distribution of return rates for each of the indexes applying asymmetric power generalized autoregressive conditional heteroskedasticity and autoregressive moving average (APGARCH-ARMA), and with the assumption of skew student's t-distribution, the dependence of Baltic indexes was modeled based on Vine-R structures.

A positive and symmetrical correlation was observed between the study groups. High and low tail dependence is observed between all four indexes. In other words, the sector business groups associated with each of these indexes react similarly to the extreme events of other groups. The BHSI has a pivotal role in examining the dependency structure of Baltic Exchange indexes. That is, in addition to the direct dependence of Baltic groups, the dependence of each group on the BHSI can transmit accidents and shocks to other groups.

Since the Baltic Exchange indexes are tradable, these findings have implications for portfolio design and hedging strategies for investors in shipping markets.

Vine copula structures proves the causal relationship between different Baltic Exchange indexes, which are derived from different types of markets.

To the best of the authors’ knowledge, this paper is a first attempt to deal with the phenomenon of new venture failure from the business network perspective of the Industrial Marketing and Purchasing (IMP) Group. In particular, this study aims to explore the post-failure phase of a new venture to investigate what happens to the new venture’s resources and relationships in the aftermath of its failure and the role of the entrepreneur in this process.

The paper builds on an explorative multiple case study of two failed new ventures, unfolding the failure and post-failure phase: evidence from both cases is confronted and discussed.

This study shows that the post-failure is a complex phase of recombination of activities and residual resources that may lead to new business opportunities. It is discussed that residual resources influence the direction and extent of post-failure activities in terms of restrictions as well as opportunities to restart new projects or ventures. It is also shown how the entrepreneur deals with the “business remains”.

While much attention has been devoted to new ventures’ failure, the paper focuses on the post-failure phase, an almost neglected topic in industrial marketing research. This study sheds some new light upon the journey through which entrepreneurs come to develop the set of resources, activities and relationships that are not only key to the establishment of the venture but also relevant in the complex and intricate trajectories of post-failure.

As an advanced manufacturing method, additive manufacturing (AM) technology provides new possibilities for efficient production and design of parts. However, with the continuous expansion of the application of AM materials, subtractive processing has become one of the necessary steps to improve the accuracy and performance of parts. In this paper, the processing process of AM materials is discussed in depth, and the surface integrity problem caused by it is discussed.

Firstly, we listed and analyzed the characterization parameters of metal surface integrity and its influence on the performance of parts and then introduced the application of integrated processing of metal adding and subtracting materials and the influence of different processing forms on the surface integrity of parts. The surface of the trial-cut material is detected and analyzed, and the surface of the integrated processing of adding and subtracting materials is compared with that of the pure processing of reducing materials, so that the corresponding conclusions are obtained.

In this process, we also found some surface integrity problems, such as knife marks, residual stress and thermal effects. These problems may have a potential negative impact on the performance of the final parts. In processing, we can try to use other integrated processing technologies of adding and subtracting materials, try to combine various integrated processing technologies of adding and subtracting materials, or consider exploring more efficient AM technology to improve processing efficiency. We can also consider adopting production process optimization measures to reduce the processing cost of adding and subtracting materials.

With the gradual improvement of the requirements for the surface quality of parts in the production process and the in-depth implementation of sustainable manufacturing, the demand for integrated processing of metal addition and subtraction materials is likely to continue to grow in the future. By deeply understanding and studying the problems of material reduction and surface integrity of AM materials, we can better meet the challenges in the manufacturing process and improve the quality and performance of parts. This research is very important for promoting the development of manufacturing technology and achieving success in practical application.