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Book part
Publication date: 4 April 2024

Hsing-Hua Chang, Chen-Hsin Lai, Kuen-Liang Lin and Shih-Kuei Lin

Factor investment is booming in global asset management, especially environmental, social, and governance (ESG), dividend yield, and volatility factors. In this chapter, we use…

Abstract

Factor investment is booming in global asset management, especially environmental, social, and governance (ESG), dividend yield, and volatility factors. In this chapter, we use data from the US securities market from 2003 to 2019 to predict dividends and volatility factors through machine learning and historical data–based methods. After that, we utilize particle swarm optimization to construct the Markowitz portfolio with limits on the number of assets and weight restrictions. The empirical results show that that the prediction ability using XGBoost is superior to the historical factor investment method. Moreover, the investment performance of our portfolio with ESG, high-yield, and low-volatility factors outperforms baseline methods, especially the S&P 500 ETF.

Details

Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-83753-865-2

Keywords

Article
Publication date: 30 December 2022

Subbarama Kousik Suraparaju, Arjun Singh K., Vijesh Jayan and Sendhil Kumar Natarajan

The utilisation of renewable energy sources for generating electricity and potable water is one of the most sustainable approaches in the current scenario. Therefore, the current…

Abstract

Purpose

The utilisation of renewable energy sources for generating electricity and potable water is one of the most sustainable approaches in the current scenario. Therefore, the current research aims to design and develop a novel co-generation system to address the electricity and potable water needs of rural areas.

Design/methodology/approach

The cogeneration system mainly consists of a solar parabolic dish concentrator (SPDC) system with a concentrated photo-voltaic module at the receiver for electricity generation. It is further integrated with a low-temperature thermal desalination (LTTD) system for generating potable water. Also, a novel corn cob filtration system is introduced for the pre-treatment to reduce the salt content in seawater before circulating it into the receiver of the SPDC system. The designed novel co-generation system has been numerically and experimentally tested to analyse the performance at Karaikal, U.T. of Puducherry, India.

Findings

Because of the pre-treatment with a corn cob, the scale formation in the pipes of the SPDC system is significantly reduced, which enhances the efficiency of the system. It is observed that the conductivity, pH and TDS of seawater are reduced significantly after the pre-treatment by the corncob filtration system. Also, the integrated system is capable of generating 6–8 litres of potable water per day.

Originality/value

The integration of the corncob filtration system reduced the scaling formation compared to the general circulation of water in the hoses. Also, the integrated SPDC and LTTD systems are comparatively economical to generate higher yields of clean water than solar stills.

Details

World Journal of Engineering, vol. 21 no. 2
Type: Research Article
ISSN: 1708-5284

Keywords

Article
Publication date: 25 January 2024

Shrushti Maheshwari, Zafar Alam and Sarthak S. Singh

The purpose of this study is to experimentally investigate the large deformation compression characteristics of fused deposition modelling (FDM)-printed poly lactic acid (PLA)…

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Abstract

Purpose

The purpose of this study is to experimentally investigate the large deformation compression characteristics of fused deposition modelling (FDM)-printed poly lactic acid (PLA), considering the combined effect of infill density and strain rate, and to develop a constitutive viscoplastic model that can incorporate the infill density to predict the experimental result.

Design/methodology/approach

The experimental approach focuses on strain rate-dependent (2.1 × 10−4, 2.1 × 10−3, and 2.1 × 10−2 s−1) compression testing for varied infill densities. Scanning electron microscopy (SEM) imaging of compressed materials is used to investigate deformation processes. A hyperelastic-viscoplastic constitutive model is constructed that can predict mechanical deformations at different strain rates and infill densities.

Findings

The yield stress of PLA increased with increase in strain rate and infill density. However, higher degree of strain-softening response was witnessed for the strain rate corresponding to 2.1 × 10−2 s−1. While filament splitting and twisting were identified as the damage mechanisms at higher strain rates, matrix crazing was observed as the primary deformation mechanism for higher infill density (95%). The developed constitutive model captured yield stress and post-yield softening behaviour of FDM build PLA samples with a high R2 value of 0.99.

Originality/value

This paper addresses the need to analyse and predict the mechanical response of FDM print polymers (PLA) undergoing extensive strain-compressive loading through a hyperelastic-viscoplastic constitutive model. This study links combined effects of the printing parameter (infill density) with the experimental parameter (strain rate).

Open Access
Article
Publication date: 7 April 2023

Billy Prananta and Constantinos Alexiou

The authors explore the relationship between the exchange rate, bond yield and the stock market as well as the effect of capital market dynamics on the exchange rate before and…

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Abstract

Purpose

The authors explore the relationship between the exchange rate, bond yield and the stock market as well as the effect of capital market dynamics on the exchange rate before and during the COVID-19 pandemic.

Design/methodology/approach

The authors employ a non-linear autoregressive distributed lag (NARDL) methodology using daily data of the Indonesian economy over the period 2012–2021.

Findings

Whilst, over the full sample period, the authors find no cointegration between the exchange rate, the 10-year bond yield and stock market, for the COVID-19 period, evidence of cointegration is present. Furthermore, the results suggest that asymmetric effects are evident both in the short as well as the long run.

Originality/value

To the best of the authors’ knowledge, this is the first time that the relationship between the exchange rate, bond yield and the stock market as well as the effect of capital market dynamics on the exchange rate before and during the COVID-19 pandemic has been explored in the case of the Indonesian economy.

Details

Asian Journal of Economics and Banking, vol. 8 no. 1
Type: Research Article
ISSN: 2615-9821

Keywords

Article
Publication date: 21 February 2024

Mohan Kumar K and Arumaikkannu G

The purpose of this paper is to compare the influence of relative density (RD) and strain rates on failure mechanism and specific energy absorption (SEA) of polyamide lattices…

Abstract

Purpose

The purpose of this paper is to compare the influence of relative density (RD) and strain rates on failure mechanism and specific energy absorption (SEA) of polyamide lattices ranging from bending to stretch-dominated structures using selective laser sintering (SLS).

Design/methodology/approach

Three bending and two stretch-dominated unit cells were selected based on the Maxwell stability criterion. Lattices were designed with three RD and fabricated by SLS technique using PA12 material. Quasi-static compression tests with three strain rates were carried out using Taguchi's L9 experiments. The lattice compressive behaviour was verified with the Gibson–Ashby analytical model.

Findings

It has been observed that RD and strain rates played a vital role in lattice compressive properties by controlling failure mechanisms, resulting in distinct post-yielding responses as fluctuating and stable hardening in the plateau region. Analysis of variance (ANOVA) displayed the significant impact of RD and emphasised dissimilar influences of strain rate that vary to cell topology. Bending-dominated lattices showed better compressive properties than stretch-dominated lattices. The interesting observation is that stretch-dominated lattices with over-stiff topology exhibited less compressive properties contrary to the Maxwell stability criterion, whereas strain rate has less influence on the SEA of face-centered and body-centered cubic unit cells with vertical and horizontal struts (FBCCXYZ).

Practical implications

This comparative study is expected to provide new prospects for designing end-user parts that undergo various impact conditions like automotive bumpers and evolving techniques like hybrid and functionally graded lattices.

Originality/value

To the best of the authors' knowledge, this is the first work that relates the strain rate with compressive properties and also highlights the lattice behaviour transformation from ductile to brittle while the increase of RD and strain rate analytically using the Gibson–Ashby analytical model.

Details

Rapid Prototyping Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-2546

Keywords

Article
Publication date: 26 March 2024

Donia Aloui and Abderrazek Ben Maatoug

Over the last few years, the European Central Bank (ECB) has adopted unconventional monetary policies. These measures aim to boost economic growth and increase inflation through…

Abstract

Purpose

Over the last few years, the European Central Bank (ECB) has adopted unconventional monetary policies. These measures aim to boost economic growth and increase inflation through the bond market. The purpose of this paper is to study the impact of the ECB’s quantitative easing (QE) on the investor’s behavior in the stock market.

Design/methodology/approach

First, the authors theoretically identify the transmission channels of the QE shocks to the stock market. Then, the authors empirically assess the financial market’s responses to QE shocks in a data-rich environment using a factor augmented VAR (FAVAR).

Findings

The results show that the ECB’s unconventional monetary policy positively affects the stock market. A QE shock leads to an increase in stock prices and a drop in the realized volatility and the implied risk premium. The authors also suggest that the ECB’s QE is transmitted to the stock market through five main channels: the liquidity, the expectation, the portfolio reallocation, the interest rates and the risk premium channels.

Practical implications

The findings help to better understand the behavior of stock market assets in a data-rich economic context and guide investors and policymakers in the presence of unconventional monetary tools. For instance, decision-makers and investors should consider the short-term effect of the QE interventions and the changing behavior of the financial actors over time. In addition, high stock market returns can increase risk appetite. This can lead investors to underestimate the market risk. Decision-makers and market participants should take into consideration the impact of the large injection of money through the QE, which may raise the risk of a speculative bubble in the financial market.

Originality/value

To the best of the authors’ knowledge, this is the first study that incorporates a theoretical and empirical analysis to explore QE transmission to the stock market in the European context. Unlike previous studies, the authors use the shadow rate proposed by Wu and Xia (2017) to quantify the effect of the ECB’s QE in a data-rich environment. The authors also include two key risk indicators – the stock market risk premium and the realized volatility – to capture investors’ behavior in the stock market following QE shocks.

Details

Studies in Economics and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1086-7376

Keywords

Article
Publication date: 13 September 2022

Chaitanya D.V.S.K. and Naga Satish Kumar Ch.

This study aims on a broad review of Concrete's Rheological Properties. The Concrete is a commonly used engineering material because of its exquisite mechanical interpretation…

Abstract

Purpose

This study aims on a broad review of Concrete's Rheological Properties. The Concrete is a commonly used engineering material because of its exquisite mechanical interpretation, but the addition of constituent amounts has significant effects on the concrete’s fresh properties. The workability of the concrete mixture is a short-term property, but it is anticipated to affect the concrete’s long-term property.

Design/methodology/approach

In this review, the concrete and workability definition; concrete’s rheology models like Bingham model, thixotropy model, H-B model and modified Bingham model; obtained rheological parameters of concrete; the effect of constituent’s rheological properties, which includes cement and aggregates; and the concrete’s rheological properties such as consistency, mobility, compatibility, workability and stability were studied in detail.

Findings

Also, this review study has detailed the constituents and concrete’s rheological properties effects. Moreover, it exhibits the relationship between yield stress and plastic viscosity in concrete’s rheological behavior. Hence, several methods have been reviewed, and performance has been noted. In that, the abrasion resistance concrete has attained the maximum compressive strength of 73.6 Mpa; the thixotropy approach has gained the lowest plastic viscosity at 22 Pa.s; and the model coaxial cylinder has recorded the lowest stress rate at 8 Pa.

Originality/value

This paper especially describes the possible strategies to constrain improper prediction of concrete’s rheological properties that make the workability and rheological behavior prediction simpler and more accurate. From this, future guidelines can afford for prediction of concrete rheological behavior by implementing novel enhancing numerical techniques and exploring the finest process to evaluate the workability.

Details

World Journal of Engineering, vol. 21 no. 1
Type: Research Article
ISSN: 1708-5284

Keywords

Article
Publication date: 14 March 2024

Peter Papadakos

The intent of this Practice Briefing is to provide clarity on drivers of property pricing in a changing economic environment. The principal basis of this analysis is to…

Abstract

Purpose

The intent of this Practice Briefing is to provide clarity on drivers of property pricing in a changing economic environment. The principal basis of this analysis is to investigate how properties have been priced relative to interest rates over the long haul. Such an insight may help investors navigate the world of property investment in a post zero interest-rate policy (ZIRP) world.

Design/methodology/approach

This practice briefing is an overview of the role of economic drivers in pricing property in different economic eras pre- and post-ZIRP. It looks at returns over time relative to risk criteria and growth.

Findings

This briefing is a review of property pricing and its relationship to economic drivers and discusses the concept of return premiums as a market indicator to spot under/over-priced property assets in the market.

Practical implications

This briefing considers the implications of identifying salient and pertinent market indicators over time as bellweathers for property pricing. Good property investment is grounded in understanding when assets are under and overpriced relative to investors’ expectations of growth and returns going forward. An understanding of markets and the current indicators thereof can provide investors with insights into those criteria.

Originality/value

This provides guidance on how to interpret markets and get an understanding of property pricing over time.

Details

Journal of Property Investment & Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 26 February 2024

Rosli Said, Mardhiati Sulaimi, Rohayu Ab Majid, Ainoriza Mohd Aini, Olusegun Olaopin Olanrele and Omokolade Akinsomi

This study aims to address the critical need for innovative financing solutions in the global housing sector, focusing specifically on Malaysia’s distinct housing finance system…

Abstract

Purpose

This study aims to address the critical need for innovative financing solutions in the global housing sector, focusing specifically on Malaysia’s distinct housing finance system encompassing both conventional and Islamic loans. The primary objective is to develop a transformative housing finance model that addresses affordability challenges and reshapes the Malaysian housing landscape.

Design/methodology/approach

The study presents an alternate housing finance model for Malaysia, integrating lower monthly payments and reduced household debt. Key variables include house price appreciation rates, interest rates, initial guarantee fees and loan-to-value ratios. Inspired by the Help to Buy (HTB) scheme, the model aligns with proven global initiatives for enhanced affordability, balancing payment amounts, loan interest rates and acceptable price thresholds.

Findings

The study’s findings promise to address affordability disparities and reshape Malaysia’s housing finance landscape. The emphasis is on introducing a structured repayment plan that offers a sustainable path to homeownership, particularly for low-income families. Incorporating the future value adaptation concept, inspired by reverse mortgages and Islamic finance, enhances adaptability, ensuring long-term sustainability despite economic shifts.

Practical implications

The proposed model promotes widespread access to homeownership, offering practical solutions for policymakers to improve affordability, prompting adaptable risk management strategies for financial institutions and empowering potential homebuyers with increased flexibility.

Originality/value

The study introduces a transformative housing finance model for Malaysia, merging elements from reverse mortgages, Islamic finance and the HTB scheme, offering potential applicability to similar systems globally.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Expert briefing
Publication date: 8 March 2024

The NBP is not cutting interest rates further partly because of tensions with Prime Minister Donald Tusk’s pro-EU government, following the defeat of the nationalist Law and…

1 – 10 of over 2000