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The aim of this study is to understand a family firm's choice of related-party transaction (RPT) types and analyze their value impacts to separate the abusive from benign RPTs.

It uses a 10-year panel of BSE-listed 378 family (and 200 non-family) firms. The fixed effects, logit and difference-in-difference (DID) models help examine value effects, propensity and persistence of harmful RPTs.

Loans/guarantees (irrespective of counterparties) destroy firm value. Capital asset RPTs decrease the firm value but enhance value when undertaken with holding parties. Operating RPTs increase firm value and profitability. They improve asset utilization and reduce discretionary expenses (especially when made with controlled entities). Family firms have larger loans/guarantees and capital asset volumes but have smaller operating RPTs than non-family firms. They are less likely to undertake loans/guarantees (and even operating RPTs) and more capital RPTs vis-à-vis non-family firms. Family firms persist with dubious loans/guarantees but hold back beneficial operating RPTs, despite RPTs being in investor cross-hairs amid the Satyam scam.

Rent extractability and counterparty incentives supplement each other. (1) The higher extractability of related-party loans and guarantees (RPLGs) dominates the lower extraction incentives of controlled parties. (2) Holding parties' bringing assets, providing a growth engine and adding value dominate their higher extraction incentives (3) The big gains to the operational efficiency come from operating RPTs with controlled parties, generally operating companies in the family house. (4) Dubious RPTs seem more integral to family firms' choices than non-family firms. (5) Counterparty incentives behind the divergent use of RPTs deserve more research attention. Future studies can give more attention to how family characteristics affect divergent motives behind RPTs.

First, the study does not single out family firms for dubious use of all RPTs. Second, investors, auditors or creditors must pay close attention to RPLGs as a special expropriation mechanism. Third, operating RPTs (and capital RPTs with holding parties) benefit family firms. However, solid procedural safeguards are necessary. Overall, results may help clarify the dilemma Indian regulators face in balancing the abusive and business sides of RPTs.

The study fills the gap by arguing why some RPTs may be dubious or benign and then shows how RPTs' misuse depends on counterparty types. It shows operating RPTs enhance operating efficiencies on several dimensions and that benefits may vary with counterparty types. It also presents the first evidence that family firms favor dubious RPTs more and efficient RPTs less than non-family firms.

This paper aims to introduce a non-invasive and convenient method to detect a life-threatening disease called aortic dissection. A Bayesian inference based on enhanced multi-sensors impedance cardiography (ICG) method has been applied to classify signals from healthy and sick patients.

A 3D numerical model consisting of simplified organ geometries is used to simulate the electrical impedance changes in the ICG-relevant domain of the human torso. The Bayesian probability theory is used for detecting an aortic dissection, which provides information about the probabilities for both cases, a dissected and a healthy aorta. Thus, the reliability and the uncertainty of the disease identification are found by this method and may indicate further diagnostic clarification.

The Bayesian classification shows that the enhanced multi-sensors ICG is more reliable in detecting aortic dissection than conventional ICG. Bayesian probability theory allows a rigorous quantification of all uncertainties to draw reliable conclusions for the medical treatment of aortic dissection.

This paper presents a non-invasive and reliable method based on a numerical simulation that could be beneficial for the medical management of aortic dissection patients. With this method, clinicians would be able to monitor the patient’s status and make better decisions in the treatment procedure of each patient.

In the cylinders of a marine diesel engine, self-ignition occurs in a very short time after the fuel injection into the combustion chamber. Therefore, this paper aims to develop a model of diesel fuel spray for the early stage of fuel spray in the marine diesel engine. The main technical aspects such as nozzle diameter of the marine engine injector and backpressure in the combustion chamber were taken into consideration.

In this paper, laboratory experimental studies were carried out to determine parameters of fuel spray in an early stage of injection in the marine diesel engine. The optical measuring Mie scattering technique was used to record the fuel injection process. The working space was a constant volume chamber. The backpressure parameters in the constant volume chamber were the same as during the operation of the marine diesel engine. Based on the experimental studies and important Hiroyasu and Arai models of fuel spray presented in literature was proposed new model of fuel spray parameters for marine diesel injectors.

In this paper, the proposed new model of the two main parameters described fuel spray evolution”: new model of spray tip penetration (STP) and spray cone angle (SCA). New model propagation of fuel STP in time was included the influence of nozzle diameter and backpressure. The proposed model has a lower error, about 15%–34%, than the model of Hiroyasu and Arai. Moreover, a new model of the evolution over time of the SCA is developed.

In the future research of fuel spray process must be taken influence of the fuel temperature. Diesel fuel has a different density and viscosity in dependence of fuel temperature. Therefore are predicted of the expansion about influence of fuel temperature, new model of fuel spray for a marine diesel engine. The main limitations occurring in the research are not possible to carry out the research while real operation marine diesel engine.

An experimental test was carried out for a real fuel injector of a marine diesel engine. Design parameters and fuel injection parameters were selected on the basis of the actual one. In the literature, SCA is defined as a constant parameter for the specific preliminary data. A new model for the early stage of fuel spray of SCA propagation in time has been proposed. The early stage of fuel spray is especially important, because in this time comes in there to fuel self-ignition.

An appropriate equivalent model is the key to the effective analysis of the system and structure in which permanent magnet takes part. At present, there are several equivalent models for calculating the interacting magnetic force between permanent magnets including magnetizing current, magnetic charge and magnetic dipole–dipole model. How to choose the most appropriate and efficient model still needs further discussion.

This paper chooses cuboid, cylindrical and spherical permanent magnets as calculating objects to investigate the detailed calculation procedures based on three equivalent models, magnetizing current, magnetic charge and magnetic dipole–dipole model. By comparing the accuracies of those models with experiment measurement, the applicability of three equivalent models for describing permanent magnets with different shapes is analyzed.

Similar calculation accuracies of the equivalent magnetizing current model and magnetic charge model are verified by comparison between simulation and experiment results. However, the magnetic dipole–dipole model can only accurately calculate for spherical magnet instead of other nonellipsoid magnets, because dipole model cannot describe the specific characteristics of magnet's shape, only sphere can be treated as the topological form of a dipole, namely a filled dot.

This work provides reference basis for choosing a proper model to calculate magnetic force in the design of electromechanical structures with permanent magnets. The applicability of different equivalent models describing permanent magnets with different shapes is discussed and the equivalence between the models is also analyzed.

Establishing the strength of a novel variable–mortgage debt as a fraction of US gross domestic product (GDP)–on forecasting capitalisation rates in both the US office and multifamily sectors.

The authors specify a vector error correction model (VECM) to the data. VECM are used to address the nonstationarity issues of financial variables while maintaining the information embedded in the levels of the data, as opposed to their differences. The cap rate series used are from Green Street Advisors and represent transaction cap rates which avoids the problem of artificial smoothness found in appraisal-based cap rates.

Using a VECM specified with the novel variable, unemployment and past cap rates contains enough information to produce more robust forecasts than the traditional variables (return expectations and risk premiums). The method is robust both in and out of sample.

This has direct implications for governmental policy, offering a path to real estate price stability and growth through mortgage access–functions largely influenced by the Fed and the quasi-federal agencies Fannie Mae and Freddie Mac. It also offers a timely alternative to interest rate-based forecasting models, which are likely to be less useful as interest rates are to be held low for the foreseeable future.

This study offers a new and highly explanatory variable to the literature while being among the only to model either (1) transactional cap rates (versus appraisal) (2) out-of-sample data (versus in-sample) (3) without the use of the traditional variables thought to be integral to cap rate modelling (return expectations and risk premiums).

This paper presents a case study examining the emissions impacts of a modal shift from on-road trucks to rail for goods movement through the Southern California ports region, one of the severest non-attainment areas in terms of national air quality standards. Recent completion of the Alameda Corridor, a 20-mile rail expressway that connects the Ports of Long Beach and Los Angeles with rail mainlines near downtown Los Angeles, provides substantial reserve capacity for port traffic to be diverted from the severely congested road network to the rail line. On-road vehicles emissions were estimated using California mobile-source emissions model, ‘EMFAC’ that incorporates a set of emissions factors for each vehicle type and an estimate of vehicle activity. These emissions were then compared with the emissions generated from trains increased to carry freight volume diverted from truck traffic. On the basis of year 2000 traffic level, it was estimated that for a 20 percent modal shift of port traffic, mobile-source emissions can be reduced up to 0.86 tons for nitrogen oxides and 16 kg for particulate matter per day. The analysis results indicate that encouraging the modal shift for port-related freight traffic should be an integral part of overall air quality improvement initiatives for the study area.

The leadership identity development (LID) grounded theory (Komives, Owen, Longerbeam, Mainella, & Osteen, 2005) and related LID model (Komives, Longerbeam, Owen, Mainella, & Osteen, 2006) present a framework for understanding how individual college students develop the social identity of being collaborative, relational leaders interdependently engaging in leadership as a group process (Komives, Lucas, & McMahon, 1998, 2007). Challenges to applying and measuring this stage based developmental theory are discussed and recommendations are included.

Volunteers play an integral role in supporting the mission of 4-H programs in the southern region. For this reason their proficiency in volunteer administration competence and perceived leadership style is important. The researchers sought to examine both the perceived proficiency of 4-H faculty in the southern region in seven competencies associated with volunteer administration leadership (Stedman, 2004) and perceived leadership style based on Full Range Leadership (Avolio & Bass, 1991). Overall respondents’ scores indicated an average proficiency in volunteer administration leadership competence. Yet, their reported scores showed a higher proficiency in the individual competency areas of personal skill and organizational culture. Leadership style was measured based on behavior scores of transformational, transactional, and laissez faire leadership. The 4-H county faculty used transformational leadership most frequently, followed by transactional leadership, and then laissez faire. Implications are 4-H county faculty could use additional professional development opportunities which address accountability and management.