Search results
1 – 4 of 4Samet Aksoy, Fikret Kabakcı, Mustafa Acarer, Hayrettin Düzcükoğlu, Erdem Ünüvar and Fehim Fındık
Paper aims to an alloy development study was carried out to increase the mechanical properties of cylinder heads.
Abstract
Purpose
Paper aims to an alloy development study was carried out to increase the mechanical properties of cylinder heads.
Design/methodology/approach
AlSi12 alloys are used to manufacture the compressor head cylinder by high-pressure casting for easy casting and superior properties. Therefore, 1.1%, 2.4% and 3.1% Mg were added to AlSi12. The microstructures of the produced samples were characterized by optical microscope, scanning electron microscopy, energy dispersive spectrometry and X-ray diffraction methods. Hardness and tensile tests as well as Charpy impact tests were performed. Wear tests were also carried out on the pin-on disc tester, and then the wear performance was examined on the tester, which simulates the actual operating condition.
Findings
AlSi12 has primary Si and eutectic Si in the Al matrix. However, alloys of Mg with AlSi12 have other intermetallics such as Mg2Si and ß-Fe, as well as primary Si and eutectic Si. Hardness and tensile strength as well as improved wear performance with increased Mg content.
Originality/value
In this study, wear performance test to simulate the operation of the cylinder head produced by high pressure casting from AlSi12 alloy moreover tensile test, hardness test and impact test were performed. Therefore, in this study, the wear performance of the compressor head produced by high-pressure casting method by adding three different amounts of Mg to AlSi12 alloy was investigated.
Details
Keywords
Monika Dahiya, Shveta Singh and Neeru Chaudhry
The study investigates the relationship between corporate social responsibility (CSR) and dividend policy in the context of Indian firms, as well as how regulatory interventions…
Abstract
Purpose
The study investigates the relationship between corporate social responsibility (CSR) and dividend policy in the context of Indian firms, as well as how regulatory interventions in the form of mandated CSR can moderate this relationship.
Design/methodology/approach
A sample of the largest 500 companies listed on the National Stock Exchange from 2008 to 2019 is used in the study. The authors employ the system generalized method of moments since this estimation technique yields accurate and consistent findings in a dynamic panel data setting.
Findings
The authors find that CSR is positively associated with dividend payments. Increased incomes and lower financial constraints are the likely factors causing this relationship. Additional analysis suggests that the positive relationship is stronger for mature firms and for firms with higher information asymmetry. Financial reporting quality works in tandem with CSR to boost dividends. Regulatory interventions in the form of mandated CSR weaken the relationship. Finally, the speed of adjustment of dividends is relatively faster for socially responsible firms.
Practical implications
The positive association between CSR and dividends suggests that the interest of shareholders and other non-financial stakeholders can be reconciled. Additionally, businesses should attempt to strategically implement their CSR plans in accordance with the requirements of Section 135 of the Companies Act, 2013 to avoid any unfavourable moderating effects of the legislation. The results also show that CSR disclosures complement rather than serve as a substitute for financial disclosures.
Originality/value
The study is the first to evaluate the relationship between CSR and dividends in the context of India, which is a pioneer in passing legislation that mandates CSR for firms surpassing a threshold. The authors also identify financial constraints as a channel through which CSR affects dividends.
Details
Keywords
Muhammad Farooq, Asrar Ahmed, Imran Khan and Muhammad Munir
This study aims to investigate the impact of dividend policy on a firm’s participation in corporate social responsibility (CSR)-related activities in the context of Pakistani…
Abstract
Purpose
This study aims to investigate the impact of dividend policy on a firm’s participation in corporate social responsibility (CSR)-related activities in the context of Pakistani firms. Furthermore, the role of the board governance mechanism in dividend policy-CSR is investigated.
Design/methodology/approach
The study’s sample consists of 115 nonfinancial Pakistan Stock Exchange-listed firms from 2010 to 2021. A multidimensional financial method is used to assess the firm’s CSR engagement, and dividend policy is assessed using the dividend payout ratio and dividend yield. The authors used the fixed effect model and the random effect model to fulfill the study’s objectives. Furthermore, the system-generalized method of moment estimation technique is used to test the robustness of the result. In addition, the authors perform reverse causality analysis and investigate the effect of financial constraints on the dividend policy–CSR relationship.
Findings
The authors find that dividend policy has a significant positive impact on CSR. The authors also find that dividend policy is significantly positively associated with components of CSR, i.e. donation, employee welfare and research and development. Furthermore, the authors find that the board governance mechanism strengthens this positive relationship between dividend policy and CSR.
Practical implications
The government and authorities must mandate or at least encourage enterprises to pay dividends as doing so not only keeps shareholders happy but also encourages firms to make CSR initiatives to balance stakeholders. Furthermore, the regulator should take steps to strengthen the board governance structure as it strengthens the positive dividend policy–CSR relationship.
Originality/value
Although little previous research has focused on the CSR-dividend policy link, the authors believe that this is the first study to look at the influence of dividend policy on CSR and the moderating impact of board governance mechanisms in an emerging country, namely, Pakistan.
Details
Keywords
The purpose of this paper is to examine the factors that influence farmers' preference for the use of Islamic banks in Turkey and to investigate their knowledge level and…
Abstract
Purpose
The purpose of this paper is to examine the factors that influence farmers' preference for the use of Islamic banks in Turkey and to investigate their knowledge level and perception about Islamic finance.
Design/methodology/approach
Survey data used in this study is obtained by drawing a sample of 1902 farmers who are members of the Agricultural Credit Cooperatives Union (ACCU) from 37 provinces of Turkey. Pearson's Chi-square test is used to analyze the association between the demographic features of farmers, conventional bank usage and Islamic bank usage. Binary logistic regression model is used to estimate the factors influencing the preference for Islamic banks. Explanatory variables include knowledge on Islamic banking and finance, perception of compliance to religion, saving ability and cost concern along with the control variables of Islamic bank branch number in the region and age of respondent. Robustness check is conducted via alternative models using ordinary least squares (OLS) and logistic regression.
Findings
Less than 10% of the participant farmers use Islamic banks and 59% declare they know nothing about Islamic banking. Age, education level, income level, nonagricultural income level, saving ability, duration of working in agriculture, land size and region are significantly related to farmers' preference of using Islamic banks. Knowledge level, perception of religious compliance, saving ability and cost concern are statistically significant factors that influence the probability of using Islamic banks.
Research limitations/implications
This study does not include the analysis of the relationship between being religious and using Islamic banks because questions related to the assessment of religious practice were excluded due to the ACCU's sensitivity to investigate personal beliefs. Therefore, future studies can expand the scope of this research by investigating religiousness. The sample is chosen from the ACCU members who are already benefiting from a formal source of credit; therefore, the results should not be attributed to all farmers.
Practical implications
Islamic banks and microfinance institutions' further engagement in the agricultural sector and ACCU's implementation of Islamic finance instruments.
Social implications
Islamic banks' further diversification in the agricultural sector and ACCU's implementation of Islamic finance instruments.
Originality/value
To the best of the authors' knowledge, this paper is the first to investigate the farmers' perception and preference of Islamic banking in Turkey. The sample size of 1902 is much larger and geographically diversified compared to studies in agricultural finance. This study will be valuable for the agricultural finance empirical studies in Turkey as well as an important addition to the emerging literature on Islamic finance.
Details