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The purpose of this paper is to analyse how London Interbank Offered Rate Index (LIBOR) and the spread between LIBOR and the base rate of interest as set by the Bank of England (BoE) influences the variation in house prices in the UK.

This paper uses monthly data over a long time series, since 1986, to investigate the relationships between house price and LIBOR. Data are drawn from several different sources to include housing, financial and macro-economic variables. The time series is sub-divided into a series of splines based on stages in the economic and property market cycle. Both value-based and percentage change models are developed.

The results show that BoE base/LIBOR margin variable has a strong positive and significant effect on house price; however, the percentage change model infers a weaker and inverse relationship. The spline analysis re-emphasised the significance of the BoE base/LIBOR margin variable. Where variation between base rates and LIBOR is reduced, a significant positive effect can be observed in the average house price; however, where significant variation exists, the BoE base/LIBOR margin has little effect and LIBOR itself becomes a significant driver.

The results highlight that the predictive qualities of the BoE base/LIBOR margin, as the contribution of this margin to the explanation of house price, exceeds both the base rate and LIBOR variables individually. Also highlighted is the contribution of unemployment to the explanation of house price. In both the value and percentage change models, unemployment is shown as a negative and highly significant contributor.

Previous papers have demonstrated the important linkage between house price and interest rates, the originality in this paper lies in examining the impact of LIBOR and the spreads between LIBOR and base rate as key variables influencing variation in UK house prices.

The purpose of this paper is to further simplify the use of NURBS in industrial environnements. Although isogeometric analysis (IGA) has been the object of intensive studies over the past decade, its massive deployment in industrial analysis still appears quite marginal. This is partly due to its implementation, which is not straightforward with respect to the elementary structure of finite element (FE) codes. This often discourages industrial engineers from adopting isogeometric capabilities in their well-established simulation environment.

Based on the concept of Bézier and Lagrange extractions, a novel method is proposed to implement IGA from an existing industrial FE code with the aim of bringing human implementation effort to the minimal possible level (only using standard input-output of finite element analysis (FEA) codes, avoid code-dependent subroutines implementation). An approximate global link to go from Lagrange polynomials to non-uniform-rational-B-splines functions is formulated, which enables the whole FE routines to be untouched during the implementation.

As a result, only the linear system resolution step is bypassed: the resolution is performed in an external script after projecting the FE system onto the reduced, more regular and isogeometric basis. The novel procedure is successfully validated through different numerical experiments involving linear and nonlinear isogeometric analyses using the standard input/output of the industrial FE software Code_Aster.

A non-invasive implementation of IGA into FEA software is proposed. The whole FE routines are untouched during the novel implementation procedure; a focus is made on the IGA solution of nonlinear problems from existing FEA software; technical details on the approach are provided by means of illustrative examples and step-by-step implementation; the methodology is evaluated on a range of two- and three-dimensional elasticity and elastoplasticity benchmarks solved using the commercial software Code_Aster.

Current economic conditions have identified a complication if not conflict in the application of valuation analysis assumptions with the free fall in asset prices observed since 2007. Discrepancies in debt obligations (from prior periods) with underlying collateral value have been opined to be an unforeseen anomaly. This investigation aims to observe an alternative perspective using data from 1900 to the present.

This 110‐year period of observation shows that return (value) volatility is the characteristic norm of the market system. Showing volatility as a fundamental characteristic of economic and property performance supports conjecture by definition, observation and rationality that valuation analysis had to be successfully employed in prior down cycles and across divergent economic regimes. A systematic literature search was conducted to identify the application of specific value theory, premises and concepts with appropriate valuation techniques in given economic regimes. The variables derived from the literature and practices observed and designated as operating across time emphasizing recorded recessions are then tested for statistically significant associations using χ² tests.

The findings show that traditional value techniques are successfully applied in stabilized and even accelerated growth periods, but weaken and even break down during down markets. Alternative approaches and techniques are emphasized and developed during these periods that address specific problems but are befitting more general issues. The alternative perspectives are then observed to operate, generating much debate for extended periods. They are then incorporated as orthodox or disappear as issues. This study identifies a statistical link between the economic and valuation concerns of the Great Depression of the 1930s and the current Great Recession of 2007‐2009. The more relevant finding, however, is that the period following the depression of the 1930s, which shows a period characterized as using innovation and alternative valuation techniques, was continued into a period that ran from the 1950s into the mid‐1990s. This was a period of stabilization, at least into the early 1980s. The deregulation of the 1980s generated a period of fewer cycles but major magnitude shifts in the less frequent measures of volatility. Unfortunately, the sophistication in debate concerning valuation procedure and valuation premises, as statistically measured, declined from the 1990s into the present period. The present economy reflects statistical measures similar to those observed from 1900‐1930.

Given the 110 years considered in the study, the findings should not be considered original with regard to assisting the general welfare or professional decision making. However, given that the market shifted from being a useful institution to assist in the allocation and distribution of property to being a religious caveat that could only result in perfect solutions to solve all social needs, wants and ills, the findings emphasizing valuation techniques based on rational value premises that can operate to assist inference of future events subject to divergent and cyclical operations might be calmed to offer very useful assistance with procedure based on fundamentals and expression of behaviour that has long been vilified. The uses of the patterns identified in this study need to be incorporated into causal analysis.

This paper proposes a method for multi‐terminal resistor optimal design based on a stochastic optimization algorithm coupled with a high accuracy boundary element method numerical analysis module using spline boundary elements. The aim of the optimization process is to find out the optimal shape of the resistor so that the values of the partial resistances between its terminals can be globally reduced. In the first part of the paper, a short introduction to the boundary element method formulation using spline interpolation of the boundary unknowns is performed. Then, the genetic algorithm optimization method is briefly described, emphasising the numerical implementation particularities related to the actual application. In the second part of the paper, three numerical examples are proposed and the final conclusions are outlined.

The paper aims to examine the impact of information technology (IT) on the financial performance of third‐party logistics (3PL) firms in China.

A questionnaire‐based mail survey was conducted in mainland China. Path analysis and spline regressions were used to model the relationship between IT and financial performance.

This study found that IT can significantly improve 3PL firms’ financial performance and there are complementarity and plateau effects of influencing financial performance between IT advantage and executives’ involvement in both IT and business strategy planning.

The modeled relationship between IT and competitive advantages may not hold in different cultural environments and industrial settings. The sample size was small. Perceptual performance data were used.

To achieve better financial performance, it is essential for 3PL firms to sense strategically the importance of IT and commit sufficient managerial efforts and resources to achieve IT competency. In addition, IT executives should involve themselves in strategic business planning to better understand business strategies.

The results of this study – which constitutes the first to investigate IT in the 3PL industry in China – provide empirical evidence and a better description of the relationship between IT and financial performance. The findings provide valuable managerial guidance and insights for logistics managers.

This paper seeks to examine the impact of information technology (IT) on the competitive advantages of third‐party logistics (3PL) firms in China.

A questionnaire‐based mail survey was conducted in mainland China. Spline regressions were used to model the relationship between IT and competitive advantages.

This study found that IT could significantly influence a firm's competitive advantage, and the effects are nonlinear.

The modeled relationship between IT and competitive advantages may not hold in different cultural environments and industrial settings. The sample size was small.

A higher IT focus may improve a firm's competitive advantage. To achieve competitive advantages efficiently, it is essential to integrate IT, align IT strategy and business strategy, obtain IT‐related management skills, and achieve IT competency. 3PL managers can expect competitive advantages from their investments in IT to begin showing up when the deployment of IT is higher than the average relative to competitors.

This paper is a pioneering study that investigates the relationship between IT and competitive advantages in 3PL firms; is a pioneering study on IT and its impact on competitive advantages in China's 3PL firms; and provides valuable guidance and insights for 3PL managers to improve competitive advantages using information technology.

In this article, the authors aims to introduce a novel Vieta–Lucas wavelets method by generalizing the Vieta–Lucas polynomials for the numerical solutions of fractional linear and non-linear delay differential equations on semi-infinite interval.

The authors have worked on the development of the operational matrices for the Vieta–Lucas wavelets and their Riemann–Liouville fractional integral, and these matrices are successfully utilized for the solution of fractional linear and non-linear delay differential equations on semi-infinite interval. The method which authors have introduced in the current paper utilizes the operational matrices of Vieta–Lucas wavelets to converts the fractional delay differential equations (FDDEs) into a system of algebraic equations. For non-linear FDDE, the authors utilize the quasilinearization technique in conjunction with the Vieta–Lucas wavelets method.

The purpose of utilizing the new operational matrices is to make the method more efficient, because the operational matrices contains many zero entries. Authors have worked out on both error and convergence analysis of the present method. Procedure of implementation for FDDE is also provided. Furthermore, numerical simulations are provided to illustrate the reliability and accuracy of the method.

Many engineers or scientist can utilize the present method for solving their ordinary or Caputo–fractional differential models. To the best of authors’ knowledge, the present work has not been used or introduced for the considered type of differential equations.

The misaligned condition in splines coupling brings more relative motion between the engaging tooth surface and subsequently a rise of wear phenomenon. The sliding friction between the spline surfaces and initial gap between the teeth are the key roles in wear behaviour in both crowned and straight splines. The paper aims to discuss these issues.

There is a design constraint to include fretting and wear damage of spline surface in design criteria. It becomes very essential to use a finite element tool to evaluate the wear behaviour of spline surface in order to design for severe environmental conditions. The fretting fatigue and fretting wear damage mechanisms on the spline surfaces are mainly dependent on the forces between the spline surfaces and relative movement between the teeth. This study focusses on the effect of sliding friction coefficients on the wear damage of the spline surfaces based on mating condition.

Analysis shows that the contact pressure and root stress increase with increasing friction coefficient and misalignment. This is irrelevant to the crowned type of splines. This case becomes worst when the spline has more misaligned condition.

The fretting wear damage of straight spline is essential criterial for the application in aero engines and the crowned spline under controlled misaligned condition provides better wear life compared to straight spline surfaces.

This bibliography contains references to papers, conference proceedings, theses and books dealing with finite strip, finite prism and finite layer analysis of structures, materially and/or geometrically linear or non‐linear.

During the operation of a wet clutch, there are fluctuations in speed and torque, which have an impact on the stability of the clutch and the strength of the friction plate and the spline pair of the dual steel plate. The purpose of this study is to investigate the vibration characteristics of the wet clutch and the dynamic load characteristics of the spline pairs.

The spline pair model is established by the piecewise linear function method, and on this basis, dynamic equations considering the spline pair of dual steel plates and friction plates are established. Considering that the wet clutch has multiple spline pairs, an equivalent model of the number of teeth and the equivalent model of the tooth width were proposed, and the Runge-Kutta numerical method was used for the wet clutch for these two models.

The research results show that the equal tooth number model has greater meshing stiffness and smaller fluctuation than the constant tooth width model, which shows that increasing the meshing stiffness of the system is beneficial to reduce system fluctuation and improve system stability.

The friction plate has the system that multiple splines are independent of each other, which is relatively complicated. Therefore, an equivalent calculation is performed on multiple pairs of steel plates (friction plates) to simplify the calculation of the spline pairs.

This paper provides a theoretical basis for further dynamic characteristics analysis of wet clutch and reducing fluctuation of speed and torque.

Dynamic equation considering the spline pair of the dual steel plates and the friction plates is established to study the vibration characteristics of the wet clutch and the dynamic load characteristics of the spline pair, etc.

The peer review history for this article is available at: https://publons.com/publon/10.1108/ILT-03-2023-0078/