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The purpose is to describe new business opportunities within the Swedish railway industry and to support the development of business models that corresponds with the needs and requirements of Industry 4.0, here denoted as Service Management 4.0.

The study is an in-depth and descriptive case study of the Swedish railway system with specific focus on a railway vehicle maintainer. Public reports, statistics, internal documents, interviews and dialogues forms the basis for the empirical findings.

The article describes the complex business environment of the deregulated Swedish railway industry. Main findings are in the form of identified business opportunities and new business model propositions for one of the key actors, a vehicle maintainer.

The article provides valuable understanding of business strategy development within complex business environments and how maintenance related business models could be developed for reaching Service Management 4.0.

Indian railways (IR) is one of the largest railway networks in the world. As a part of its strategic development initiative, demand forecasting can be one of the indispensable activities, as it may provide basic inputs for planning and control of various activities such as coach production, planning new trains, coach augmentation and quota redistribution. The purpose of this study is to suggest an approach to demand forecasting for IR management.

A case study is carried out, wherein several models i.e. automated autoregressive integrated moving average (auto-ARIMA), trigonometric regressors (TBATS), Holt–Winters additive model, Holt–Winters multiplicative model, simple exponential smoothing and simple moving average methods have been tested. As per requirements of IR management, the adopted research methodology is predominantly discursive, and the passenger reservation patterns over a five-year period covering a most representative train service for the past five years have been employed. The relative error matrix and the Akaike information criterion have been used to compare the performance of various models. The Diebold–Mariano test was conducted to examine the accuracy of models.

The coach production strategy has been proposed on the most suitable auto-ARIMA model. Around 6,000 railway coaches per year have been produced in the past 3 years by IR. As per the coach production plan for the year 2023–2024, a tentative 6551 coaches of various types have been planned for production. The insights gained from this paper may facilitate need-based coach manufacturing and optimum utilization of the inventory.

This study contributes to the literature on rail ticket demand forecasting and adds value to the process of rolling stock management. The proposed model can be a comprehensive decision-making tool to plan for new train services and assess the rolling stock production requirement on any railway system. The analysis may help in making demand predictions for the busy season, and the management can make important decisions about the pricing of services.

This paper researches a bidirectional volatility transmission effect between stocks and exchange rate markets in the six East European and Eurasian countries.

Research process involves creation of transitory and permanent volatilities via optimal component generalized autoregressive heteroscedasticity (CGARCH) model, while these volatilities are subsequently embedded in Markov switching model.

This study’s results indicate that bidirectional volatility transmission exists between the markets in the selected countries, whereas the effect from exchange rate to stocks is stronger than the other way around in both short-term and long-term. In particular, the authors find that long-term spillover effect from exchange rate to stocks is stronger than the short-term counterpart in all countries, which could suggest that flow-oriented model better explains the nexus between the markets than portfolio-balance approach. On the other hand, short-term volatility transfer from stock to exchange rate is stronger than its long-term equivalent.

This suggests that portfolio-balance theory also has a role in explaining the transmission effect from stock to exchange rate market, but a decisive fact is from which direction spillover effect is observed.

This paper is the first one that analyses the volatility nexus between stocks and exchange rate in short and long term in the four East European and two Eurasian countries.

This study aims to reduce the redundant weight of the anti-roll torsion bar brought by the traditional empirical design and improving its strength and stiffness.

Based on the finite element approach coupled with the improved beluga whale optimization (IBWO) algorithm, a collaborative optimization method is suggested to optimize the design of the anti-roll torsion bar structure and weight. The dimensions and material properties of the torsion bar were defined as random variables, and the torsion bar's mass and strength were investigated using finite elements. Then, chaotic mapping and differential evolution (DE) operators are introduced to improve the beluga whale optimization (BWO) algorithm and run case studies.

The findings demonstrate that the IBWO has superior solution set distribution uniformity, convergence speed, solution correctness and stability than the BWO. The IBWO algorithm is used to optimize the anti-roll torsion bar design. The error between the optimization and finite element simulation results was less than 1%. The weight of the optimized anti-roll torsion bar was lessened by 4%, the maximum stress was reduced by 35% and the stiffness was increased by 1.9%.

The study provides a methodological reference for the simulation optimization process of the lateral anti-roll torsion bar.

The purpose of this study is to address the extended travel time caused by dwelling time at stations for passengers on traditional rail transit lines. To mitigate this issue, the authors propose the “Non-stop” design, which involves trains comprised of modular vehicles that can couple and uncouple from each other during operation, thereby eliminating dwelling time at stations..

The main contributions of this paper are threefold: first, to introduce the concept of non-stop rail transit lines, which, to the best of the authors’ knowledge, has not been researched in the literature; second, to develop a framework for the operation schedule of such a line; and third, the author evaluate the potential of its implementation in terms of total passenger travel time.

The total travel time was reduced by 6% to 32.91%. The results show that the savings were more significant for long commutes and low train occupancy rates.

The non-stop system can improve existing lines without the need for the construction of additional facilities, but it requires technological advances for rolling stock.

To eliminate dwelling time at stations, the authors present the “Non-stop” design, which is based on trains composed of locomotives that couple and uncouple from each other during operation, which to the best of the authors’ knowledge has not been researched in the literature.

The purpose of this paper is to examine the practicability of the self-designed ambient humidity controllable pin-disc/rolling multifunctional friction and wear test device and to evaluate the friction and wear characteristics of materials under diverse ambient humidity conditions in different contact forms.

The practicability of the self-designed multifunctional friction tester was examined by the friction and wear tests of materials under different ambient humidity conditions [65%RH, 98%RH (relative humidity)] in diverse contact forms (pin/disc and rolling). Meanwhile, the friction and wear properties of pin/disc samples also rolling samples were assessed from three aspects: average friction coefficient, wear mass and wear morphology.

The results prove that the self-designed multifunctional friction tester has practicability. Therefore, it can be used to simulate the friction and wear tests of materials under diverse ambient humidity conditions in different contact forms. Besides, it is evident that the wear damage of pin/disc and rolling samples are greatly improved under high ambient humidity conditions. And when other conditions are identical, the higher the ambient humidity, the smaller the average friction coefficient, wear mass and wear damage degree of pin/disc also rolling samples.

This paper offers a self-designed multifunctional friction and wear test device. And the tester not only can realize the control of test ambient humidity, but also achieve the wear test of pin/disc or rolling contact forms. The design and production of the tester can offer convenience for the research of tribology, and provide fundamental guidance for the study of materials under high humidity condition in diverse contact forms.

Over a long period, even low inflation has an impact on portfolio value and households’ purchasing power. In such a context, inflation hedging should remain an important issue for investors. In particular, long-term investors, who are concerned with the protection of their wealth, seek to hold effective hedging assets. This study aims to demonstrate that residential assets in “Grand Paris” are a hedge against inflation and particularly against its unexpected component.

In this study, the physical residential markets in 127 communes in Paris and the Parisian first-ring suburbs are considered as potential asset classes. We simplified the analysis by clustering the 127 communes into five homogenous groups using ascending hierarchical classification (AHC). Then, we test the hedging ability of these groups within a mixed asset portfolios using both correlation and regression analysis.

This paper presents an analysis of the “Grand Paris” housing market and its inflation hedging ability with comparison to other financial asset classes. Results show that the five housing groups act as a highly positive hedge against unexpected inflation. Furthermore, cash and bonds seem to provide, respectively, a partial and an over hedge against unexpected inflation. Stocks act as a perverse hedge against unexpected inflation and provide no significant hedge against expected inflation. Also, indirect listed real estate demonstrates little correlation with inflation, which makes us reject its hedging ability contrary to physical residential real estate.

The inflation topic: although several researches exist that question the hedging property of real estate, very few concentrate on physical residential assets and to the best of the authors’ knowledge, this study is the only one that targets the “Grand Paris” area. Residential assets of the “Grand Paris” communes are confirmed to be a hedge against inflation and particularly against its unexpected component thanks to its capital appreciation rather than income one. Also, we show that the listed real estate in France (Sociétés d’Investissement Immobilier Cotée) does not provide the same hedging properties contrary to the US real estate investment trusts (REITs) who demonstrate this ability. Listed real estate could thus not be used interchangeably with housing to protect from inflation in the French market.

Protection of investors against inflation and in particular in the face of its return to France in 2022. Reassuring promoters and investors of the interest of residential investment projects in “Greater Paris” and of the potential that this holds.

Inflation takes a chunk out of the purchasing power of money and thereby erodes the real value of people’s finance. Investors and households who seek protection from inflation erosion should invest in direct housing, and in particular within areas that are experiencing an effective metropolization process.

The originality of the study is precisely relative to the geographical area studied. The latter has experienced favorable economic conditions for several years and offers interesting fundamentals to explore and exploit in investment strategies that prove capable of protecting against imminent inflation. The database is specific to this project and has been built through the compilation of several sources and with the support of BNP Paribas Real Estate.

This study aims to explore the relationship between firm risk, capital structure, cost of equity capital and social and environmental sustainability during the COVID-19 pandemic for companies listed on Tehran Stock Exchange.

To this aim, the information about 190 companies in 2014–2020 was retrieved to be analyzed. The total risk and systematic risk were used as the indicators of company risk; the industry-adjusted earnings price ratio (IndEP) and GORDON were used for the cost of equity capital. To measure social sustainability and environmental sustainability, the procedure suggested by Arianpoor and Salehi (2020) was used.

Underleveraged firms have had a lower total risk during the COVID-19 pandemic, while overleveraged firms have not had a higher risk during this time. In overleveraged firms, using systematic risk has a negative impact on social sustainability during the COVID-19 pandemic. In overleveraged firms, using total risk and systematic risk has a significant negative impact on environmental sustainability in the pandemic. Besides, overleveraged firms have a lower cost of equity capital (IndEP) during COVID-19.

To the best of the authors’ knowledge, no similar study has so far examined the joint impact of COVID-19 and corporate risk on social and environmental sustainability and also the joint impact of COVID-19 and capital structure on the cost of equity. This study contributes to the related literature by providing corporations with insightful post-pandemic directions on capital structure decisions and social and environmental activities. Furthermore, this research and the relevant findings can help understand and develop social responsibility in Iran as a developing country.

This study aims to improve the availability of regenerative braking for urban metro vehicles by introducing a sensorless operational temperature estimation method for the braking resistor (BR) onboard the vehicle, which overcomes the vulnerability of having conventional temperature sensor.

In this study, the energy model based sensorless estimation method is developed. By analyzing the structure and the convection dissipation process of the BR onboard the vehicle, the energy-based operational temperature model of the BR and its cooling domain is established. By adopting Newton's law of cooling and the law of conservation of energy, the energy and temperature dynamic of the BR can be stated. To minimize the use of all kinds of sensors (including both thermal and electrical), a novel regenerative braking power calculation method is proposed, which involves only the voltage of DC traction network and the duty cycle of the chopping circuit; both of them are available for the traction control unit (TCU) of the vehicle. By utilizing a real-time iterative calculation and updating the parameter of the energy model, the operational temperature of the BR can be obtained and monitored in a sensorless manner.

In this study, a sensorless estimation/monitoring method of the operational temperature of BR is proposed. The results show that it is possible to utilize the existing electrical sensors that is mandatory for the traction unit’s operation to estimate the operational temperature of BR, instead of adding dedicated thermal sensors. The results also validate the effectiveness of the proposal is acceptable for the engineering practical.

The proposal of this study provides novel concepts for the sensorless operational temperature monitoring of BR onboard rolling stocks. The proposed method only involves quasi-global electrical variable and the internal control signal within the TCU.

This study aims to reduce the weight of the door, improve the operating efficiency and ensure the safety of vehicle operation.

Based on traditional aluminium alloy doors, a new type of honeycomb composite material was developed. Tests were conducted to determine the honeycomb compression resistance, honeycomb and skin shear performance, plate bending, thermal conductivity and environmental protection. Eight doors were developed based on the full-side open structure, and static strength and stiffness analyses were performed simultaneously. To solve door vibration problems, modal analysis and test were carried out.

The test results showed that the weight of the door was reduced by more than 40% whilst ensuring the strength and stiffness of the vehicle. The first–sixth-order test mode of the door was increased by more than 14% compared with existing aluminium alloy doors.

A new type of honeycomb composite material was used in this study. The test results showed that the weight of the door was reduced by more than 40% whilst ensuring the strength and stiffness of the vehicle. The 1st-to-6th order test mode of the door was increased by more than 14% compared with the existing aluminium alloy door.