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Article
Publication date: 25 September 2018

Kaushal Kumar, Satish Kumar, Munish Gupta and Hem Chander Garg

This paper aims at erosion wear experimentation conducted on two piping materials, namely SS202 and SS304 to establish the effect of rotational speed, concentration and…

Abstract

Purpose

This paper aims at erosion wear experimentation conducted on two piping materials, namely SS202 and SS304 to establish the effect of rotational speed, concentration and time period.

Design/methodology/approach

Erosion wear because of slurry flow is investigated using a slurry erosion pot tester. Fly ash is taken as erodent material having different solid concentrations lie in range 30 to 60per cent (by weight). Experiments are performed at four different speeds, i.e. 600; 900; 1,200; and 1,500 rpm for time duration of 90, 120, 150 and 180 min, respectively. To enhance erosion wear resistance of both piping materials, high-velocity-oxy-fuel coating technique is used to deposit WC-10Co4Cr coating. The parametric influence of erosion wear is optimized using Taguchi method.

Findings

The results show that significant improvement in erosion wear resistance is observed by deposition of WC-10Co4Cr coating. It is observed that rotational speed is found as highly influencing parameter followed by concentration and time duration. Parametric investigation of erosion wear is helpful to develop a procedure for minimizing the erosion wear in pipeline for the flow of solid-liquid mixture.

Originality/value

Slurry erosion wear of WC-10Co4Cr coated stainless steel (SS202 and SS304) is substantiated by extensive microstructural analysis and optimization technique.

Details

Industrial Lubrication and Tribology, vol. 70 no. 9
Type: Research Article
ISSN: 0036-8792

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Article
Publication date: 9 November 2018

Ajaya Kumar Panda, Swagatika Nanda, Vipul Kumar Singh and Satish Kumar

The purpose of this study is to examine the evidences of leverage effects on the conditional volatility of exchange rates because of asymmetric innovations and its…

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294

Abstract

Purpose

The purpose of this study is to examine the evidences of leverage effects on the conditional volatility of exchange rates because of asymmetric innovations and its spillover effects among the exchange rates of selected emerging and growth-leading economies.

Design/methodology/approach

The empirical analysis uses the sign bias test and asymmetric generalized autoregressive conditional heteroskedasticity (GARCH) models to capture the leverage effects on conditional volatility of exchange rates and also uses multivariate GARCH (MGARCH) model to address volatility spillovers among the studied exchange rates.

Findings

The study finds substantial impact of asymmetric innovations (news) on the conditional volatility of exchange rates, where Russian Ruble is showing significant leverage effect followed by Indian Rupee. The exchange rates depict significant mean spillover effects, where Rupee, Peso and Ruble are strongly connected; Real, Rupiah and Lira are moderately connected; and Yuan is the least connected exchange rate within the sample. The study also finds the assimilation of information in foreign exchanges and increased spillover effects in the post 2008 periods.

Practical implications

The results probably have the implications for international investment and asset management. Portfolio managers could use this research to optimize their international portfolio. Policymakers such as central banks may find the study useful to monitor and design interventions strategies in foreign exchange markets keeping an eye on the nature of movements among these exchange rates.

Originality/value

This is one of the few empirical research studies that aim to explore the leverage effects on exchange rates and their volatility spillovers among seven emerging and growth-leading economies using advanced econometric methodologies.

Details

Journal of Financial Economic Policy, vol. 11 no. 2
Type: Research Article
ISSN: 1757-6385

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Article
Publication date: 19 June 2020

Riya Sureka, Satish Kumar, Sachin Kumar Mangla and Flavio Hourneaux Junior

International Journal of Productivity and Performance Management (IJPPM) is one of the prominent journals publishing on general management with a particular focus on…

Abstract

Purpose

International Journal of Productivity and Performance Management (IJPPM) is one of the prominent journals publishing on general management with a particular focus on performance management and productive sciences. The objective of this study is to provide an academic structure overview of the journal between 2004 and 2018 using bibliometric tools.

Design/methodology/approach

Data used for this study were extracted using the Scopus database. Bibliometric analysis using several bibliometric indicators are adopted to know the major trends and themes of the journal. Mapping of bibliographic data is carried using VOSviewer and Gephi software.

Findings

Authors: Most of the IJPPM contributors are affiliated to the UK and India. Journal Performance: It is gaining pre-eminence in terms of total citations as well as CiteScores. Main themes: Major themes published in the journal are “performance management”, “productivity”, “six sigma”, “lean” and “supply chain management”.

Originality/value

IJPPM's growing influence in the scientific community has generated the interest to analyse the journal's publication and growth pattern. Moreover, no such retrospective bibliometric study for IJPPM is conducted so far.

Details

International Journal of Productivity and Performance Management, vol. 70 no. 5
Type: Research Article
ISSN: 1741-0401

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Article
Publication date: 2 May 2017

Purnima Rao, Satish Kumar, Vidhu Gaur and Deepak Verma

This exploratory study aims to investigate the financing issues faced by Indian small and medium enterprise (SME) owners. It also classifies the financing constraints into…

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1183

Abstract

Purpose

This exploratory study aims to investigate the financing issues faced by Indian small and medium enterprise (SME) owners. It also classifies the financing constraints into four financing gaps, namely, demand, knowledge, supply and benevolence.

Design/methodology/approach

The study uses the convergent interviewing technique to highlight the key issues being faced by SME owners in financing. Forty-four owners from different industries and having dispersed demographics have been interviewed in the study.

Findings

The findings reveal the real-time issues being faced by SME owners. SMEs faced both demand- and supply-side constraints. The most common financing challenges are high cost of credit, complex procedures of lending institutions, information asymmetry, creditworthiness and self-abstaining from external financial resources. Issues pertaining to lack of knowledge and awareness about the financial products and services are also being noticed by the researchers.

Research limitations/implications

This study identifies the major financing concerns of SMEs and thereby provides a directional approach to the policymakers in the area of SME financing.

Originality/value

The study offers a better and data-based understanding of financing issues being faced by the SME owners. The usage of convergent interviewing allows the researchers to highlight the common issues raised by the SME owners.

Details

Qualitative Research in Financial Markets, vol. 9 no. 2
Type: Research Article
ISSN: 1755-4179

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Article
Publication date: 6 February 2017

Harsh Pratap Singh, Satish Kumar and Sisira Colombage

The purpose of this study is to quantitatively aggregate the findings of prior literature on the effect of working capital management (WCM) on corporate profitability…

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5727

Abstract

Purpose

The purpose of this study is to quantitatively aggregate the findings of prior literature on the effect of working capital management (WCM) on corporate profitability using the meta-analysis technique developed by Hunter et al. (1982).

Design/methodology/approach

A set of 46 research articles that directly studied the relationship between WCM, and profitability was analyzed for the purpose. In addition to overall meta-analysis, a detailed subgroup study was also conducted to test whether the differences in results are due to moderating effects related to different profitability proxies, economic development of a specific country and size of the firms under study.

Findings

The findings of this meta-analysis confirm that WCM is negatively associated with profitability, which means an aggressive WCM policy leads to higher profitability. Overall, and in all the subgroup studies, the cash conversion cycle was found to be negatively associated with profitability.

Originality/value

Unlike narrative literature review papers, this meta-analysis provides quantitatively aggregate evidence on the relationship of WCM and firms’ profitability. To the best of authors’ knowledge, no previous meta-analysis paper is published on the topic.

Details

Qualitative Research in Financial Markets, vol. 9 no. 1
Type: Research Article
ISSN: 1755-4179

Keywords

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Article
Publication date: 10 June 2021

Sunday Simon, Norfaiezah Sawandi, Satish Kumar and Magdi El-Bannany

This study aims to explore changes in working capital management (WCM) practices in response to economic downturns, especially during the coronavirus pandemic.

Abstract

Purpose

This study aims to explore changes in working capital management (WCM) practices in response to economic downturns, especially during the coronavirus pandemic.

Design/methodology/approach

This study adopts an interpretative approach. This paper used semi-structured interviews with 2 finance directors and 13 top managers for data collection. This paper used thematic analysis for analysing the interview data.

Findings

The study findings suggest that the traditional ways of managing working capital may no longer be sufficient during a crisis. Instead, dynamic financing, trade credit policy and continuous staff training to develop new skills are alternative WCM practices to navigate the challenges of a crisis. Further, this paper finds that economic conditions, such as inflation rates, interest rates, exchange rates and government policy, negatively affect WCM.

Practical implications

The study findings highlight practical issues that may help firms meet their present and future financing needs, manage their day-to-day operational activities and enhance performance, both operational and financial. The study is beneficial for regulators in understanding a firm’s constraints during crises and respond appropriately.

Originality/value

This is the first study, to the best of the knowledge that uses a qualitative approach to investigate the impact of economic downturns on WCM practices of firms. Thus, this study offers new insights into the fundamentals of WCM practices during crises.

Details

Qualitative Research in Financial Markets, vol. 13 no. 4
Type: Research Article
ISSN: 1755-4179

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Article
Publication date: 3 April 2019

Jashanpreet Singh, Satish Kumar and S.K. Mohapatra

This study/paper aims to investigate the erosion wear performance of Ni-based coatings [Ni-Cr-O and NiCrBSiFe-WC(Co)] under sand-water slurry conditions.

Abstract

Purpose

This study/paper aims to investigate the erosion wear performance of Ni-based coatings [Ni-Cr-O and NiCrBSiFe-WC(Co)] under sand-water slurry conditions.

Design/methodology/approach

A high-velocity oxy-fuel (HVOF) process was used to deposit the Ni-based coatings [Ni-Cr-O and NiCrBSiFe-WC(Co)] on the surface of stainless steel (SS 316L) substrate. A Ducom TR-41 erosion tester was used to conduct the tribological experiments on bare/HVOF coated SS 316L. The erosion wear experiments were carried out for different time durations (1.30-3.00 h) at different impact angles (0-60°) by running the pot tester at different rotational speeds (600-1,500 rev/min). The solid concentration of sand slurry was taken in the range of 30-60 Wt.%. The surface roughness of Ni-based coated surfaces was also measured along the transverse length of the specimens.

Findings

Results show the arithmetic mean roughness (Ra) values of Ni-Cr-O and NiCrBSiFe-WC coated SS-316L were 7.04 and 6.67 µm, respectively. The erosion wear SS-316L was almost 3.5 ± 1.5 times greater than that of the NiCrBSiFe-WC coatings. NiBCrSi-WC(Co) sprayed SS-316L showed lower erosion wear than Ni-Cr-O sprayed SS-316L. Microscopically, the eroded Ni-Cr-O coating underwent plowing, microcutting and craters. Ni-Cr-O coating have shown the ductile nature of erosion wear mechanism. NiBCrSi-WC(Co) surface underwent craters, plowing, carbide/boride pullout, fractures and intact. Erosion wear mechanisms on the eroded surface of NiBCrSi-WC(Co) were neither purely ductile nor brittle.

Practical implications

It is a useful technique to estimate the erosion wear of hydraulic machinery coated with Ni-based coatings imposed under mining conditions.

Originality/value

The erosion wear performance of HVOF-sprayed Ni-Cr-O and NiCrBSiFe-WC(Co) powders was investigated through extensive experimentation, and the results are well supported by scanning electron micrographs and 3D topology.

Details

Industrial Lubrication and Tribology, vol. 71 no. 4
Type: Research Article
ISSN: 0036-8792

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Article
Publication date: 25 September 2018

Gurmeet Singh, Satish Kumar and Satbir S. Sehgal

This paper aims to optimize the erosion wear analysis of slurry impeller material. Stainless steel (SS-410) was used as the pump impeller material. This erosion test was…

Abstract

Purpose

This paper aims to optimize the erosion wear analysis of slurry impeller material. Stainless steel (SS-410) was used as the pump impeller material. This erosion test was established to influence the rotational speed, solid concentration, time period and particle size. Fly ash was used as the erodent material.

Design/methodology/approach

The erosion wear experiments were performed at different particle size, rotational speed, time duration and solid concentration (by weight). These tests were performed at four different speeds of 750, 1,000, 1,250 and 1,500 rpm, and the time durations of these experiments are 75, 120,165 and 210 min. For protective coating, high-velocity oxygen-fuel spray process was used for depositing WC-10Co-4Cr coating on stainless steel. To investigate the influence of controlled process parameters on slurry erosion wear of pump impeller material, Taguchi method was used.

Findings

Results show that significant improvement in erosion wear resistance has been observed by using WC-10Co-4Cr coating. The process parameters affecting the erosion wear loss were in following order: time > rpm > concentration > particle size. The means of signal-to-noise ratio of stainless steel SS410 with and without coating vary from 93.56 to 54.02 and from 86.02 to 48.18, respectively.

Originality/value

For the erosion wear rate of both uncoated and coated stainless steel, the most powerful influencing factor was identified as time. The erosion test reveals that the coating exhibits ductile erosion mechanism and shows better erosion wear resistance (approximately two times) compared to uncoated stainless steel.

Details

Industrial Lubrication and Tribology, vol. 70 no. 9
Type: Research Article
ISSN: 0036-8792

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Article
Publication date: 17 December 2018

H. Kent Baker, Satish Kumar, Nisha Goyal and Vidhu Gaur

The purpose of this paper is to examine how financial literacy and demographic variables (gender, age, income level, education, occupation, marital status and investment…

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3331

Abstract

Purpose

The purpose of this paper is to examine how financial literacy and demographic variables (gender, age, income level, education, occupation, marital status and investment experience) related to behavioral biases.

Design/methodology/approach

The study uses one-way analysis of variance (ANOVA), factor analysis and multiple regression analysis to examine survey data from more than 500 individual investors in India.

Findings

The results reveal the presence of different behavioral biases including overconfidence and self-attribution, the disposition effect, anchoring bias, representativeness, mental accounting, emotional biases and herding among Indian investors. Hence, the findings support the view that individual investors do not always act rationally. The results also show that financial literacy has a negative association with the disposition effect and herding bias, a positive relation with mental accounting bias, but no significant relation with overconfidence and emotional biases. Age, occupation and investment experience are the most important demographic variables that relate to the behavioral biases of individual investors in the sample. Regarding gender, males are more overconfident than are females about their knowledge of the stock market.

Research limitations/implications

The study does not test for causality, only association between the variables. Thus, the findings in this study should not be interpreted as suggesting causality. The study may have implications for financial educators in promoting the financial awareness programs for individuals. Financial advisors can potentially become more effective by understanding their clients’ decision-making processes.

Originality/value

Despite an extensive literature on behavioral finance, limited academic research attempts to unravel the relation of how financial literacy and demographic variates relate to behavioral biases. This study contributes to this literature by trying to fill this gap.

Details

Managerial Finance, vol. 45 no. 1
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 25 October 2019

Gurmeet Singh, Satish Kumar, Satbir Singh Sehgal and Shashi Bhushan Prasad

This paper aims to depict the erosion performance of two HVOF-coated micron layers (Colmonoy-88 and Stellite-6) on pump impeller steel (SS-410) by using Taguchi's method…

Abstract

Purpose

This paper aims to depict the erosion performance of two HVOF-coated micron layers (Colmonoy-88 and Stellite-6) on pump impeller steel (SS-410) by using Taguchi's method. Taguchi's array (L16) was used to optimize the erosion wear (in terms of weight loss) by using four influencing parameters such as rotational speed, solid concentration, average particle size and time which were varied at four different levels.

Design/methodology/approach

The experiments were carried out by using a Ducom slurry tester with rotational speed in the range of 750-1,500 rpm, solid concentration of 35-65 per cent by weight, time period of 75-210 min and average particle sizes in the range of < 53 to 250 µm. Bottom Ash with a nominal size range of < 53 to 250 µm was used as erodent. The process parameters were optimized by using Taguchi's method. The ANOVA method was used to validate the results given by Taguchi's method.

Findings

The results revealed that the presence of both carbides and borides and the additional presence of Cr in Colmonoy-88 coating enhancing the slurry erosion resistance of Colmonoy-88 coating. Moreover, the chromium and tungsten carbide particles help in increasing the bond strength between the coating and the substrate material. Further, it was also found that the time was the most dominant factor as compared to other factors.

Originality/value

The very less work has been reported on optimization of erosion wear response of Colmonoy-88 and Stellite-6 coatings by using different design of experiment techniques. Further, the erosion wear mechanism of both coatings has been studied by using image j analysis software.

Details

Industrial Lubrication and Tribology, vol. 72 no. 3
Type: Research Article
ISSN: 0036-8792

Keywords

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