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1 – 10 of over 3000Łukasz Kurowski and Paweł Smaga
Financial stability has become a focal point for central banks since the global financial crisis. However, the optimal mix between monetary and financial stability policies…
Abstract
Purpose
Financial stability has become a focal point for central banks since the global financial crisis. However, the optimal mix between monetary and financial stability policies remains unclear. In this study, the “soft” approach to such policy mix was tested – how often monetary policy (in inflation reports) analyses financial stability issues. This paper aims to discuss the aforementioned objective.
Design/methodology/approach
A total of 648 inflation reports published by 11 central banks from post-communist countries in 1998-2019 were reviewed using a text-mining method.
Findings
Results show that financial stability topics (mainly cyclical aspects of systemic risk) on average account for only 2%of inflation reports’ content. Although this share has grown somewhat since the global financial crisis (in CZ, HU and PL), it still remains at a low level. Thus, not enough evidence was found on the use of a “soft” policy mix in post-communist countries.
Practical implications
Given the strong interactions between price and financial stability, this paper emphasizes the need to increase the attention of monetary policymakers to financial stability issues.
Originality/value
The study combines two research areas, i.e. monetary policy and modern text mining techniques on a sample of post-communist countries, something which to the best of the authors’ knowledge has not been sufficiently explored in the literature before.
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Marcin Figat and Agnieszka Kwiek
Tandem wing aircrafts belong to an unconventional configurations group, and this type of design is characterised by a strong aerodynamic coupling, which results in lower induced…
Abstract
Purpose
Tandem wing aircrafts belong to an unconventional configurations group, and this type of design is characterised by a strong aerodynamic coupling, which results in lower induced drag. The purpose of this paper is to determine whether a certain trend in the wingspan impact on aircraft dynamic stability can be identified. The secondary goal was to compare the response to control of flaps placed on a front and rear wing.
Design/methodology/approach
The aerodynamic data and control derivatives were obtained from the computational fluid dynamics computations performed by the MGAERO software. The equations of aircraft longitudinal motion in a state space form were used. The equations were built based on the aerodynamic coefficients, stability and control derivatives. The analysis of the dynamic stability was done in the MATLAB by solving the eigenvalue problem. The response to control was computed by the step response method using MATLAB.
Findings
The results of this study showed that because of a strong aerodynamic coupling, a nonlinear relation between the wing size and aircraft dynamic stability proprieties was observed. In the case of the flap deflection, stronger oscillation was observed for the front flap.
Originality/value
Results of dynamic stability of aircraft in the tandem wing configuration can be found in the literature, but those studies show outcomes of a single configuration, while this paper presents a comprehensive investigation into the impact of wingspan on aircraft dynamic stability. The results reveal that because of a strong aerodynamic coupling, the relation between the span factor and dynamic stability is nonlinear. Also, it has been demonstrated that the configuration of two wings with the same span is not the optimal one from the aerodynamic point of view.
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Chenhao Wei, Gang Lin, Jun Huang, Lei Song and Howard Smith
Unlike conventional aircraft, birds can glide without a vertical tail. The purpose of this paper is to analyse the influence of dihedral angle spanwise distribution on…
Abstract
Purpose
Unlike conventional aircraft, birds can glide without a vertical tail. The purpose of this paper is to analyse the influence of dihedral angle spanwise distribution on lateral-directional dynamic stability by the simulation, calculation in the development of the bird-inspired aircraft and the flight testing.
Design/methodology/approach
The gliding magnificent frigatebird (Fregata magnificens) was selected as the study object. The geometric and mass model of the study object were developed. Stability derivatives and moments of inertia were obtained. The lateral-directional stability was assessed under different spanwise distributions of dihedral angle. A bird-inspired aircraft was developed, and a flight test was carried out to verify the analysed results.
Findings
The results show that spanwise distribution changing of dihedral angle has influence on the lateral-directional mode stability. All of the analysed configurations have convergent Dutch roll mode and rolling mode. The key role of dihedral angle changing is to achieve a convergent spiral mode. Flight test results show that the bird-inspired aircraft has a well-convergent Dutch roll mode.
Practical implications
The theory that birds can achieve its lateral-directional stability by changing its dihedral angle spanwise distribution may explain the stability mechanism of gliding birds.
Originality/value
This paper helps to improve the understanding of bird gliding stability mechanism and provides bio-inspired solutions in aircraft designing.
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Junru Zhang, Yumeng Liu and Bo Yan
This study aims to research the large cross-section tunnel stability evaluation method corrected after considering the thickness-span ratio.
Abstract
Purpose
This study aims to research the large cross-section tunnel stability evaluation method corrected after considering the thickness-span ratio.
Design/methodology/approach
First, taking the Liuyuan Tunnel of Huanggang-Huangmei High-Speed Railway as an example and taking deflection of the third principal stress of the surrounding rock at a vault after tunnel excavation as the criterion, the critical buried depth of the large section tunnel was determined. Then, the strength reduction method was employed to calculate the tunnel safety factor under different rock classes and thickness-span ratios, and mathematical statistics was conducted to identify the relationships of the tunnel safety factor with the thickness-span ratio and the basic quality (BQ) index of the rock for different rock classes. Finally, the influences of thickness-span ratio, groundwater, initial stress of rock and structural attitude factors were considered to obtain the corrected BQ, based on which the stability of a large cross-section tunnel with a depth of more than 100 m during mechanized operation was analyzed. This evaluation method was then applied to Liuyuan Tunnel and Cimushan No. 2 Tunnel of Chongqing Urban Expressway for verification.
Findings
This study shows that under different rock classes, the tunnel safety factor is a strict power function of the thickness-span ratio, while a linear function of the BQ to some extent. It is more suitable to use the corrected BQ as a quantitative index to evaluate tunnel stability according to the actual conditions of the site.
Originality/value
The existing industry standards do not consider the influence of buried depth and span in the evaluation of tunnel stability. The stability evaluation method of large section tunnel considering the correction of overburden span ratio proposed in this paper achieves higher accuracy for the stability evaluation of surrounding rock in a full or large-section mechanized excavation of double line high-speed railway tunnels.
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Tran Ngoc Tam, Nguyen Minh Hai and Bantaojai Thanatporn
The purpose of this paper is to study the Hölder calmness of solutions to equilibrium problems and apply it to economics.
Abstract
Purpose
The purpose of this paper is to study the Hölder calmness of solutions to equilibrium problems and apply it to economics.
Design/methodology/approach
The authors obtain the Hölder calmness by using an effective approach. More precisely, under the key assumption of strong convexity, sufficient conditions for the Hölder continuity of solution maps to equilibrium problems are established.
Findings
A new result in stability analysis for equilibrium problems and applications in economics is archived.
Originality/value
The authors confirm that the paper has not been published previously, is not under consideration for publication elsewhere and is not being simultaneously submitted elsewhere.
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Jonathan Simões Freitas, Jéssica Castilho Andrade Ferreira, André Azevedo Rennó Campos, Júlio Cézar Fonseca de Melo, Lin Chih Cheng and Carlos Alberto Gonçalves
This paper aims to map the creation and evolution of centering resonance analysis (CRA). This method was an innovative approach developed to conduct textual content analysis in a…
Abstract
Purpose
This paper aims to map the creation and evolution of centering resonance analysis (CRA). This method was an innovative approach developed to conduct textual content analysis in a semi-automatic, theory-informed and analytically rigorous way. Nevertheless, despite its robust procedures to analyze documents and interviews, CRA is still broadly unknown and scarcely used in management research.
Design/methodology/approach
To track CRA’s development, the roadmapping approach was properly adapted. The traditional time-based multi-layered map format was customized to depict, graphically, the results obtained from a systematic literature review of the main CRA publications.
Findings
In total, 19 papers were reviewed, from the method’s introduction in 2002 to its last tracked methodological development. In all, 26 types of CRA analysis were identified and grouped in five categories. The most innovative procedures in each group were discussed and exemplified. Finally, a CRA methodological roadmap was presented, including a layered typology of the publications, in terms of their focus and innovativeness; the number of analysis conducted in each publication; references for further CRA development; a segmentation and description of the main publication periods; main turning points; citation-based relationships; and four possible future scenarios for CRA as a method.
Originality/value
This paper offers a unique and comprehensive review of CRA’s development, favoring its broader use in management research. In addition, it develops an adapted version of the roadmapping approach, customized for mapping methodological innovations over time.
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Hangjing Zhang, Yan Chen and H. Vicky Zhao
The purpose of this paper is to have a review on the analysis of information diffusion based on evolutionary game theory. People now get used to interact over social networks, and…
Abstract
Purpose
The purpose of this paper is to have a review on the analysis of information diffusion based on evolutionary game theory. People now get used to interact over social networks, and one of the most important functions of social networks is information sharing. Understanding the mechanisms of the information diffusion over social networks is critical to various applications including online advertisement and rumor control.
Design/methodology/approach
It has been shown that the graphical evolutionary game theory (EGT) is a very efficient method to study this problem.
Findings
By applying EGT to information diffusion, the authors could predict every small change in the process, get the detailed dynamics and finally foretell the stable states.
Originality/value
In this paper, the authors provide a general review on the evolutionary game-theoretic framework for information diffusion over social network by summarizing the results and conclusions of works using graphical EGT.
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Dhulika Arora and Smita Kashiramka
Shadow banks or non-bank financial intermediaries (NBFIs) are facilitators of credit, especially in emerging market economies (EMEs). However, there are certain risks associated…
Abstract
Purpose
Shadow banks or non-bank financial intermediaries (NBFIs) are facilitators of credit, especially in emerging market economies (EMEs). However, there are certain risks associated with them, such as their unchecked leverage and interconnectedness with the rest of the financial system. In light of this, the present study analyses the impact of the growth of shadow banks on the stability of the banking sector and the overall stability of the financial system. The authors further examine the effect of the growth of finance companies (a type of NBFIs) on financial stability.
Design/methodology/approach
The study employs data of 11 EMEs (monitored by the Financial Stability Board (FSB)) for the period 2002–2020 to examine the above relationships. Panel-corrected standard errors method and Driscoll–Kray standard error estimation are deployed to conduct the analysis.
Findings
The results signify that the growth of the shadow banking sector and the growth of lending to the shadow banking sector are negatively associated with the stability of the banking sector and increases the vulnerability of the financial system (overall instability). This implies that the higher the growth of the shadow banks, the higher the financial fragility. Finance companies are also found to negatively affect financial stability. These findings are validated by different estimation methods and point out the risks posed by the NBFI sector.
Originality/value
The extant study builds a composite index (Financial Vulnerability Index (FVI)) to measure financial stability; thus, the findings contribute to the evolving literature on shadow banks.
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This study aims to explore the relationship between risk governance characteristics (chief risk officer [CRO], chief financial officer [CFO] and senior directors [SENIOR]) and…
Abstract
Purpose
This study aims to explore the relationship between risk governance characteristics (chief risk officer [CRO], chief financial officer [CFO] and senior directors [SENIOR]) and regulatory adjustments (RAs) in Organization for Economic Cooperation and Development public commercial banks.
Design/methodology/approach
Using principal component analysis (PCA) and regression models, the research analyzes a representative data set of these banks.
Findings
A significant negative correlation between risk governance characteristics and RAs is found. Sensitivity analysis on the regulatory Tier 1 capital ratio and the total capital ratio indicates mixed outcomes, suggesting a complex relationship that warrants further exploration.
Research limitations/implications
The study’s limited sample size calls for further research to confirm findings and explore risk governance’s impact on banks’ capital structures.
Practical implications
Enhanced risk governance could reduce RAs, influencing banking policy.
Social implications
The study advocates for improved banking regulatory practices, potentially increasing sector stability and public trust.
Originality/value
This study contributes to understanding risk governance’s role in regulatory compliance, offering insights for policymaking in banking.
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Aidan Jungo, Mengmeng Zhang, Jan B. Vos and Arthur Rizzi
The purpose of this paper is to present the status of the on-going development of the new computerized environment for aircraft synthesis and integrated optimization methods…
Abstract
Purpose
The purpose of this paper is to present the status of the on-going development of the new computerized environment for aircraft synthesis and integrated optimization methods (CEASIOM) and to compare results of different aerodynamic tools. The concurrent design of aircraft is an extremely interdisciplinary activity incorporating simultaneous consideration of complex, tightly coupled systems, functions and requirements. The design task is to achieve an optimal integration of all components into an efficient, robust and reliable aircraft with high performance that can be manufactured with low technical and financial risks, and has an affordable life-cycle cost.
Design/methodology/approach
CEASIOM (www.ceasiom.com) is a framework that integrates discipline-specific tools like computer-aided design, mesh generation, computational fluid dynamics (CFD), stability and control analysis and structural analysis, all for the purpose of aircraft conceptual design.
Findings
A new CEASIOM version is under development within EU Project AGILE (www.agile-project.eu), by adopting the CPACS XML data-format for representation of all design data pertaining to the aircraft under development.
Research limitations/implications
Results obtained from different methods have been compared and analyzed. Some differences have been observed; however, they are mainly due to the different physical modelizations that are used by each of these methods.
Originality/value
This paper summarizes the current status of the development of the new CEASIOM software, in particular for the following modules: CPACS file visualizer and editor CPACSupdater (Matlab) Automatic unstructured (Euler) & hybrid (RANS) mesh generation by sumo Multi-fidelity CFD solvers: Digital Datcom (Empirical), Tornado (VLM), Edge-Euler & SU2-Euler, Edge-RANS & SU2-RANS Data fusion tool: aerodynamic coefficients fusion from variable fidelity CFD tools above to compile complete aero-table for flight analysis and simulation.
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