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Article
Publication date: 13 September 2011

Roger Lorence and Steven Q. Zhang

The purpose of this paper is to highlight not only the pre‐closing, but also the continuing due diligence required of all parties in private placement life insurance or…

Abstract

Purpose

The purpose of this paper is to highlight not only the pre‐closing, but also the continuing due diligence required of all parties in private placement life insurance or annuities invested in hedge funds.

Design/methodology/approach

This technical paper describes the due diligence process for these high‐end offerings, illustrating key concerns through case studies.

Findings

Recent events have caused the advantages, disadvantages and timing issues to crystallize, together with what issues require pre‐closing and post‐closing due diligence.

Originality/value

This paper provides timely guidance from experts approaching the issues from multiple disciplines – law, accounting, and financial analysis – to yield a comprehensive analysis of the position of all parties to the transaction.

Details

Journal of Investment Compliance, vol. 12 no. 3
Type: Research Article
ISSN: 1528-5812

Keywords

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Article
Publication date: 1 June 1997

Jaroslav Mackerle

Gives a bibliographical review of the finite element methods (FEMs) applied for the linear and nonlinear, static and dynamic analyses of basic structural elements from the…

Abstract

Gives a bibliographical review of the finite element methods (FEMs) applied for the linear and nonlinear, static and dynamic analyses of basic structural elements from the theoretical as well as practical points of view. The range of applications of FEMs in this area is wide and cannot be presented in a single paper; therefore aims to give the reader an encyclopaedic view on the subject. The bibliography at the end of the paper contains 2,025 references to papers, conference proceedings and theses/dissertations dealing with the analysis of beams, columns, rods, bars, cables, discs, blades, shafts, membranes, plates and shells that were published in 1992‐1995.

Details

Engineering Computations, vol. 14 no. 4
Type: Research Article
ISSN: 0264-4401

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Article
Publication date: 19 September 2016

Ziqiang Cui, Qi Wang, Qian Xue, Wenru Fan, Lingling Zhang, Zhang Cao, Benyuan Sun, Huaxiang Wang and Wuqiang Yang

Electrical capacitance tomography (ECT) and electrical resistance tomography (ERT) are promising techniques for multiphase flow measurement due to their high speed, low…

Abstract

Purpose

Electrical capacitance tomography (ECT) and electrical resistance tomography (ERT) are promising techniques for multiphase flow measurement due to their high speed, low cost, non-invasive and visualization features. There are two major difficulties in image reconstruction for ECT and ERT: the “soft-field”effect, and the ill-posedness of the inverse problem, which includes two problems: under-determined problem and the solution is not stable, i.e. is very sensitive to measurement errors and noise. This paper aims to summarize and evaluate various reconstruction algorithms which have been studied and developed in the word for many years and to provide reference for further research and application.

Design/methodology/approach

In the past 10 years, various image reconstruction algorithms have been developed to deal with these problems, including in the field of industrial multi-phase flow measurement and biological medical diagnosis.

Findings

This paper reviews existing image reconstruction algorithms and the new algorithms proposed by the authors for electrical capacitance tomography and electrical resistance tomography in multi-phase flow measurement and biological medical diagnosis.

Originality/value

The authors systematically summarize and evaluate various reconstruction algorithms which have been studied and developed in the word for many years and to provide valuable reference for practical applications.

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Article
Publication date: 14 May 2021

Lijuan Chen, Ditao Duan, Arunodaya Raj Mishra and Melfi Alrasheedi

This study caries a survey approach using the expert's interview and literature to select the important criteria to select and evaluate the third-party reverse logistics…

Abstract

Purpose

This study caries a survey approach using the expert's interview and literature to select the important criteria to select and evaluate the third-party reverse logistics providers (3PRLPs) in manufacturing companies. In total, 16 criteria are selected to evaluate 3PRLPs, and these criteria are classified on the basis of three main elements of sustainable growth, including economic, social and environmental development. Therefore, a hybrid decision-making approach is utilized to evaluate and rank the 3PRLPs in manufacturing companies.

Design/methodology/approach

This paper proposes a new decision-making approach using the projection model and entropy method under the interval-valued intuitionistic fuzzy set to assess 3PRLPs based on sustainability perspectives. A survey approach using the literature review and experts' interview is conducted to select the important criteria to select and evaluate 3PRLPs in manufacturing companies. To assess the criteria weight, the entropy method is used. Further, the projection model is applied to prioritize the 3PRLPs option. Sensitivity analysis and comparison process are performed in order to test and validate the developed method.

Findings

The presented methodology uses the benefits to determine the former for measuring the parameters considered and the latter for rating the 3PRLPs alternatives. A case study is taken to 3PRLPs in the manufacturing industry to illustrate the efficiency of the introduced hybrid method. The findings of this study indicate that when facing uncertainties of input and qualitative data, the proposed solution delivers more viable performance and therefore is suitable for wider uses.

Originality/value

The conception of the circular economy (CE) comes from the last 4 decades, and in recent years, tremendous attention has been carried out on this concept, partially because of the availability of natural resources in the world and changes in consumption behaviour of developed and developing nations. Remarkably, the sustainable supply chain management concepts are established parallel to the CE foundations, grown in industrial practice and ecology literature for a long time. In fact, to reduce the environmental concerns, sustainable supply chain management seeks to diminish the materials' flow and minimize the unintentional harmful consequences of consumption and production processes. Customers and governments are becoming increasingly aware of the environmental sustainability in the CE era, which allows businesses to concentrate more resources on reverse logistics (RLs). However, most manufacturing enterprises have been inspired to outsource their RL operations to competent 3PRLPs due to limited resources and technological limitations. In RL outsourcing practices, the selection of the best 3PRLP is helpfully valuable due to its potential to increase the economic viability of enterprises and boost their long-term growth.

Details

Journal of Enterprise Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1741-0398

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Article
Publication date: 25 June 2021

Daniel Tidbury, Steven F. Cahan and Li Chen

Board faultlines, which reflect intrinsic divisions of board members into relatively homogeneous subgroups, are associated with poor firm performance. This paper aims to…

Abstract

Purpose

Board faultlines, which reflect intrinsic divisions of board members into relatively homogeneous subgroups, are associated with poor firm performance. This paper aims to extend the existing board faultline research by examining how acquisition deal size moderates the negative implications of board faultlines.

Design/methodology/approach

This paper uses a sample of acquisitions and a quantitative research approach to conduct statistical analysis.

Findings

Using a sample of acquisitions announced between 2007 and 2016, this paper finds evidence suggesting that strong faultlines are associated with poorer acquisition outcomes in the long-term, but not in the short term. Further, this paper finds that the effect of faultline strength on long-term acquisition outcomes is weaker for larger acquisition deals than smaller acquisition deals. The findings are consistent with deal size moderating the relation between faultlines and acquisition outcomes.

Research limitations/implications

This paper addresses possible endogeneity through firm fixed effects and instrumental variable analysis. Although this paper provides evidence on the moderating role of deal size in the context of faultlines, future research could examine the role of additional moderators, such as pro-diversity, trust, board leadership and board and task characteristics.

Practical implications

The findings suggest that boards need to be aware of situations where the negative effects of faultlines are more likely to come to the fore. For example, faultlines are more likely to play a role in more routine, obscure monitoring than for high-profile strategic decisions.

Originality/value

The study is multidisciplinary as it draws on the management, organizational behaviour and psychology and finance literature. It contributes to the developing literature on faultlines in several important ways. First, this paper supports their view that faultlines have adverse effects on board performance by showing that faultlines negatively impact discrete strategic investment decisions. Second, this paper provides evidence that deals size moderates the faultline-acquisition performance relation, indicating that the role of faultlines is contextual. Third, this paper finds evidence that suggests investors do not factor in board faultlines when responding to acquisition announcements.

Details

Meditari Accountancy Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2049-372X

Keywords

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Article
Publication date: 28 October 2014

Minchen Zhu, Weizhi Wang and Jingshan Huang

It is well known that the selection of initial cluster centers can significantly affect K-means clustering results. The purpose of this paper is to propose an improved…

Abstract

Purpose

It is well known that the selection of initial cluster centers can significantly affect K-means clustering results. The purpose of this paper is to propose an improved, efficient methodology to handle such a challenge.

Design/methodology/approach

According to the fact that the inner-class distance among samples within the same cluster is supposed to be smaller than the inter-class distance among clusters, the algorithm will dynamically adjust initial cluster centers that are randomly selected. Consequently, such adjusted initial cluster centers will be highly representative in the sense that they are distributed among as many samples as possible. As a result, local optima that are common in K-means clustering can then be effectively reduced. In addition, the algorithm is able to obtain all initial cluster centers simultaneously (instead of one center at a time) during the dynamic adjustment.

Findings

Experimental results demonstrate that the proposed algorithm greatly improves the accuracy of traditional K-means clustering results and, in a more efficient manner.

Originality/value

The authors presented in this paper an efficient algorithm, which is able to dynamically adjust initial cluster centers that are randomly selected. The adjusted centers are highly representative, i.e. they are distributed among as many samples as possible. As a result, local optima that are common in K-means clustering can be effectively reduced so that the authors can achieve an improved clustering accuracy. In addition, the algorithm is a cost-efficient one and the enhanced clustering accuracy can be obtained in a more efficient manner compared with traditional K-means algorithm.

Details

Engineering Computations, vol. 31 no. 8
Type: Research Article
ISSN: 0264-4401

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Article
Publication date: 6 May 2020

Xinyu Wang, Yu Lin and Yingjie Shi

From the intra- and inter-regional dimensions, this paper investigates the linkage between industrial agglomeration and inventory performance, and further demonstrates the…

Abstract

Purpose

From the intra- and inter-regional dimensions, this paper investigates the linkage between industrial agglomeration and inventory performance, and further demonstrates the moderating role of firm size and enterprise status in the supply chain on this linkage.

Design/methodology/approach

Using a large panel dataset of Chinese manufacturers in the Yangtze River Delta for the period from 2008 to 2013, this study employs the method of spatial econometric analysis via a spatial Durbin model (SDM) to examine the effects of industrial agglomeration on inventory performance. Meanwhile, the moderation model is applied to examine the moderating role of two firm-level heterogeneity factors.

Findings

At its core, this research demonstrates that industrial agglomeration is associated with the positive change of inventory performance in the adjacent regions, whereas that in the host region as well as in general does not significantly increase. Additionally, both firm size and enterprise status in the supply chain can positively moderate these effects, except for the moderating role of firm size on the positive spillovers.

Practical implications

In view of firm heterogeneity, managers should take special care when matching their abilities of inventory management with the agglomeration effects. Firms with a high level of inventory management are suited to stay in an industrial cluster, while others would be better in the adjacent regions to enhance inventory performance.

Originality/value

This paper is the first to systematically analyze the effects of industrial agglomeration on inventory performance within and across clusters, and confirm that these effects are contingent upon firm size and enterprise status in the supply chain. It adds to the existing literature by highlighting the spatial spillovers from industrial clusters and enriching the antecedents of inventory leanness.

Details

Journal of Manufacturing Technology Management, vol. 32 no. 2
Type: Research Article
ISSN: 1741-038X

Keywords

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Article
Publication date: 4 September 2017

Chunlei Shao and Yang Zhao

The purpose of this paper is to study the dimensionless characteristics of a molten salt pump and propose an approach to carry out the modeling experiment by using water…

Abstract

Purpose

The purpose of this paper is to study the dimensionless characteristics of a molten salt pump and propose an approach to carry out the modeling experiment by using water instead of molten salts.

Design/methodology/approach

External characteristics of the pump were estimated by using the steady flow model and compared with the experimental results. By taking water as the working fluid, the pathlines in the volute of the model pump were validated by the results obtained of high-speed photography. According to the derived dimensionless characteristics of the molten salt pump, the modeling experimental schemes were proposed. Adopting the validated numerical simulation model, the performance of the molten salt pump was studied in detail.

Findings

The modeling experimental schemes designed according to the dimensionless characteristics are theoretically feasible. However, to carry out the experiment successfully, factors such as rotational speed, geometric size, flow rate and head should be taken into account. The flow in the pumps is similar under the similar operating condition and the external characteristics of the similar pump can be converted to each other. Compared with transporting water, the decline of the head and efficiency is within 5 per cent when the viscosity is lower than 0.01453 Pa · s. The pump is not suitable for running under the critical Reynolds number of 1.0 × 107.

Originality/value

The current work revealed the relationships among the dimensionless performances of a molten salt pump and proposed a critical Reynolds number ReQcr for the pump running.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 27 no. 9
Type: Research Article
ISSN: 0961-5539

Keywords

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Book part
Publication date: 6 September 2019

Abstract

Details

Experiencing Persian Heritage
Type: Book
ISBN: 978-1-78754-813-8

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Book part
Publication date: 27 November 2017

Steven A. Dennis, Prodosh Simlai and Wm. Steven Smith

Previous studies have shown that stock returns bear a premium for downside risk versus upside potential. We develop a new risk measure which scales the traditional CAPM…

Abstract

Previous studies have shown that stock returns bear a premium for downside risk versus upside potential. We develop a new risk measure which scales the traditional CAPM beta by the ratio of the upside beta to the downside beta, thereby incorporating the effects of both upside potential and downside risk. This “modified” beta has substantial explanatory power in standard asset pricing tests, outperforming existing measures, and it is robust to various alternative modeling and estimation techniques.

Details

Growing Presence of Real Options in Global Financial Markets
Type: Book
ISBN: 978-1-78714-838-3

Keywords

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