Multi‐layer surface finish, from the bottom to top, of electroless Ni, electroless Pd, and immersion Au (Ni/Pd/Au) have been introduced in the printed circuit board (PCB) industry…
Abstract
Multi‐layer surface finish, from the bottom to top, of electroless Ni, electroless Pd, and immersion Au (Ni/Pd/Au) have been introduced in the printed circuit board (PCB) industry recently. This paper reports an evaluation of this surface finish from the perspective of solder joint attachment reliability, especially to see if the Ni/Pd/Au could be immune from the brittle interfacial fracture of PBGA on electroless Ni/immersion Au, recently observed and reported by us. PCBs with Ni/Pd/Au finishes, made from two vendors with varied Pd layer thickness were attached with PBGA packages, and tested in four‐point bending. When joint strength is strong, bending tests resulted in peeling off the PCB pads; otherwise, brittle fractures occurred at the interface between solder balls and PCB pads. After aging, solder joints on all Ni/Pd/Au and reference metal finishes failed by the same brittle fracture at the interface between Ni‐Sn and Au‐Sn intermetallic compounds. It is concluded that the interfacial fracture was controlled by something other than the Pd, and the existence of the Pd did not prevent the interfacial fracture. Also, the presence of Pd could not prevent the Au migration and subsequent fracture.
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Seyedhesam Vaghfi, Sedighe Kamranrad and Fateme Keshvari
The purpose of this study is to investigate the impact of innovation and differentiation strategy on financial performance with a focus on the role of risk management and…
Abstract
Purpose
The purpose of this study is to investigate the impact of innovation and differentiation strategy on financial performance with a focus on the role of risk management and intellectual capital of companies listed on the Tehran Stock Exchange.
Design/methodology/approach
In this research, differentiation and innovation strategy criteria are the independent variables, performance criteria are the dependent variables and risk management effectiveness and intellectual capital are the moderating variables. The statistical population of this research includes all the companies listed in the Tehran Stock Exchange during the 10-year period, and 127 companies were selected as a statistical sample using the systematic elimination method. The research model fitting and hypothesis testing were carried out using structural equation modeling and SPSS, Smart PLS software.
Findings
The results of the hypothesis testing showed a positive and significant relationship between the innovation and differentiation strategy and the firm performance. In addition, effective management of risk and intellectual capital also had a significant and positive impact on this relationship.
Research limitations/implications
Given that this research was conducted at the Tehran Stock Exchange, it was difficult for the researchers to collect data. Also, since the Tehran Stock Exchange is a new market, a lot of research needs to be done in different areas of this market to identify the existing problems and shortcomings and to provide reasons for its growth and development.
Practical implications
According to the results of the research on the impact of intellectual capital and risk management on corporate performance and the impact of strategy on this relationship, this paper can expect to see an improvement in corporate performance and an increase in shareholder wealth as a result of applying the results of this research.
Social implications
Considering that corporate strategy, intellectual capital criteria and risk management to increase the financial performance of companies have informational content; therefore, according to the results of this research, an increase in the performance of listed companies is expected, and naturally, this increase in performance will lead to the prosperity of the economic sector, increase in job creation and as a result, improve the quality of social life.
Originality/value
In the Tehran Stock Exchange, by properly evaluating the financial performance criteria of companies and identifying the factors that increase intellectual capital and risk management, they provide the means to improve knowledge in this area of research.