Christopher A. Wolf, Mark W. Stephenson, Wayne A. Knoblauch and Andrew M. Novakovic
The purpose of this paper is to evaluate dairy farm financial performance over time utilizing farm financial ratios from three university business analysis programs. The…
Abstract
Purpose
The purpose of this paper is to evaluate dairy farm financial performance over time utilizing farm financial ratios from three university business analysis programs. The evaluation includes measures of profitability, solvency, and liquidity by herd size.
Design/methodology/approach
Financial ratios to reflect profitability (rate of return on assets), solvency (debt to asset ratio), and liquidity (current ratio) were collected from Cornell University, Michigan State University, and the University of Wisconsin for dairy farms from 2000 to 2012. The distribution of farm financial performance using these ratios was examined over time and by herd size. Variance component methods are used to examine the percent of variation due to individual firm and industry aspects. A simple credit risk score is calculated to examine relative farm risk.
Findings
Dairy farm profitability performance is similar across herd sizes in poor years but larger herds realized significantly more profitability in good years. Findings were similar with respect to liquidity. Large herds consistently carried relatively more debt. Large herds’ financial performance was more uniform than across smaller herds. Larger herds had more financial risk as measured by credit risk scoring but recovered quickly to industry averages in profitable years.
Originality/value
The variation of dairy farm financial performance in an era of volatile milk and feed price is assessed. The results have important implications for farm financial management and benchmarking farm financial performance. In addition to helping to evaluate the efficacy of various price and income risk management tools, these results have important implications for understanding the benefits of the new federal Margin Protection Program for Dairy that is available to all US dairy farmers.
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Danielle Mayes, Sarah Victoria Ramsden, Louise Braham, Zoe Whitaker and Mark Norburn
The purpose of this paper is to explore service users’ experience of community meetings (CMs) within a high secure setting.
Abstract
Purpose
The purpose of this paper is to explore service users’ experience of community meetings (CMs) within a high secure setting.
Design/methodology/approach
A qualitative design was employed in which focus groups were used to capture service users’ experience of CMs. In all, 12 focus groups comprising a total of 27 participants were carried out using a semi-structured interview schedule. Data were analysed using thematic and saliency analysis, identifying themes which were pertinent to the research aims.
Findings
Positive experiences reported by service users included a safe space to explore ward issues and develop skills, with some viewing the meeting as a therapeutic forum in which to facilitate personal growth.
Research limitations/implications
There were a wide range of patient presentations and views. Furthermore, only 20 per cent of the patient population were included within this study.
Practical implications
A number of recommendations have been identified that can have positive implications for patients (quality of life and recovery), staff (resolving conflicts and problem-solving) and the overall therapeutic milieu of the ward.
Originality/value
There are no reviews looking at CMs within the last decade. This paper brings the understanding up to date to allow the development of this potentially positive tool.
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Florencia Edith Wiria, Kah Fai Leong and Chee Kai Chua
Tissue engineering (TE) involves biological, medical and engineering expertise and a current engineering challenge is to provide good TE scaffolds. These highly porous 3D…
Abstract
Purpose
Tissue engineering (TE) involves biological, medical and engineering expertise and a current engineering challenge is to provide good TE scaffolds. These highly porous 3D scaffolds primarily serve as temporal holding devices for cells that facilitate structural and functional tissue unit formation of the newly transplanted cells. One method used successfully to produce scaffolds is that of rapid prototyping. Selective laser sintering (SLS) is one such versatile method that is able to process many types of polymeric materials and good stability of its products. The purpose of this paper is to present modeling of the heat transfer process, to understand the sintering phenomena that are experienced by powder particles in the SLS powder bed during the sintering process. With the understanding of sintering process obtained through the theoretical modeling, experimental process of biomaterials in SLS could be directed towards the appropriate sintering window, so as not to cause unintentional degradation to the biomaterials.
Design/methodology/approach
SLS uses a laser as a heat source to sinter parts. A theoretical study based on heat transfer phenomena during SLS process was carried out. The study identified the significant biomaterial and laser beam properties that were critical to the sintering result. The material properties were thermal conductivity, thermal diffusivity, surface reflectivity and absorption coefficient.
Findings
The influential laser beam properties were laser power and scan speed, which were machine parameters that can be controlled by users. The identification of the important parameters has ensured that favorable sintering conditions can be achieved.
Research limitations/implications
The selection of biopolymer influences the manner in which energy is absorbed by the powder bed during the SLS process. In this paper, the modeling and investigative work was validated by poly(vinyl alcohol) which is a biomaterial that has been used for many biomedical and pharmaceutical purposes.
Practical implications
The paper can be the foundation for extension to other types of biomaterials including biopolymers, bioceramics and biocomposites.
Originality/value
The formulation of the theory for heat transfer phenomena during the SLS process is of significant value to any studies in using SLS for biomedical applications.
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ACCORDING to the Directory of Libraries in the United States and Canada, there are about 4,500 libraries of a more or less public character in those two countries. The Literary…
Abstract
ACCORDING to the Directory of Libraries in the United States and Canada, there are about 4,500 libraries of a more or less public character in those two countries. The Literary Year‐book, Clegg's Directory, and other authorities, furnish the information that at least 2,000 public libraries exist in the United Kingdom. Allowing 10,000 more for the rest of the world, we get a total of 16,500 libraries. Deducting three‐fourths of this number as representing libraries of the smallest and most poverty‐stricken or special kind, we obtain 4,000 institutions capable of supporting professional literature of all forms. A sanguine librarian might be induced by these figures to launch out in authorship, certain of his market, and might even be prone to disregard the warning that not more than about one‐tenth of these 4,000 libraries are to be depended upon as possible purchasers.
Andrew Ngawenja Mzembe and Uwafiokun Idemudia
Drawing on theories of organisational identity, social exchange and stakeholder engagement, this study aims to investigate the processes and practices involved in the formation…
Abstract
Purpose
Drawing on theories of organisational identity, social exchange and stakeholder engagement, this study aims to investigate the processes and practices involved in the formation and shaping of identities of social enterprises (SEs) that operate in the Malawian hospitality and tourism industry.
Design/methodology/approach
Drawing on an interpretive research paradigm, data collected from 22 semi-structured interviews with four founders of case SEs and stakeholders, and SEs’ reports and other publicly available documents were generated and analysed following a grounded theory approach.
Findings
The authors show that the trajectory SEs followed and the exchanges that occurred with the external stakeholders allowed three out of four case SEs to swiftly re-evaluate their pre-existing identities and work towards the formation of their new identities.
Practical implications
This study provides an opportunity for policymakers and other actors in developing countries to frame and place SEs in line with the wider societal realities in such contexts. This may in turn call for policymakers to increase actors’ engagement with SEs and provide the necessary support that can allow SEs to be an effective force for the public good.
Originality/value
This paper highlights the role of exchanges with external stakeholders in identity formation and shaping within SEs in the hospitality and tourism sector in the context of institutional voids. By adopting the social exchange theory, this paper introduces a dynamic lens to identity formation and shaping and helps to explain how, across different tourism ventures, stakeholder engagement and different modes of exchange unfold in the inter-organisational and community domains. It further shows how the ventures’ value orientations on the one hand, and stakeholder engagement practices and the ensuing exchanges, on the other hand, are closely interwoven.
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Geoffroy Enjolras, Philippe Madiès and Hang Yue
This paper examines the influence of accounting practices on financial performance with an application to farms. In response to the yield, price and weather risks they face, farms…
Abstract
Purpose
This paper examines the influence of accounting practices on financial performance with an application to farms. In response to the yield, price and weather risks they face, farms have strong incentives to manipulate their earnings.
Design/methodology/approach
We measure earnings management and performance using data from the Farm Accountancy Data Network (FADN), which is representative of French professional farms over the period 2000–2022.
Findings
Our results show that, on average, regardless of year and specialisation, farms use two competing strategies to manage their earnings and deal with uncertainty. In the short run, timely reporting of bad news can help them to access public support. In the long run, farms also smooth their earnings, which is justified by the need to maintain their access to credit and to cope with climatic and economic shocks.
Research limitations/implications
Further research could provide more precise evidence of the impact of climatic, geopolitical or market events on farm accounting practices. In addition, the analysis could be extended to other industries that are also exposed to risks.
Practical implications
The results shed new light on the observed volatility in farm profitability and their ability to manage risk. Accounting practices play an important role in helping farmers to cope with risky production and volatile market conditions. While farmers may appear to be in a difficult situation due to reduced and low-quality earnings, we believe that they are in fact resilient in ensuring the sustainability of their operations and financing.
Originality/value
This work highlights the key role of earnings management in risk management. Farms are a relevant example of small- and medium-sized enterprises (SMEs) exposed to natural and economic risks.
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Erfan Rezvani Ghomi, Saeideh Kholghi Eshkalak, Sunpreet Singh, Amutha Chinnappan, Seeram Ramakrishna and Roger Narayan
The potential implications of the three-dimensional printing (3DP) technology are growing enormously in the various health-care sectors, including surgical planning, manufacturing…
Abstract
Purpose
The potential implications of the three-dimensional printing (3DP) technology are growing enormously in the various health-care sectors, including surgical planning, manufacturing of patient-specific implants and developing anatomical models. Although a wide range of thermoplastic polymers are available as 3DP feedstock, yet obtaining biocompatible and structurally integrated biomedical devices is still challenging owing to various technical issues.
Design/methodology/approach
Polyether ether ketone (PEEK) is an organic and biocompatible compound material that is recently being used to fabricate complex design geometries and patient-specific implants through 3DP. However, the thermal and rheological features of PEEK make it difficult to process through the 3DP technologies, for instance, fused filament fabrication. The present review paper presents a state-of-the-art literature review of the 3DP of PEEK for potential biomedical applications. In particular, a special emphasis has been given on the existing technical hurdles and possible technological and processing solutions for improving the printability of PEEK.
Findings
The reviewed literature highlighted that there exist numerous scientific and technical means which can be adopted for improving the quality features of the 3D-printed PEEK-based biomedical structures. The discussed technological innovations will help the 3DP system to enhance the layer adhesion strength, structural stability, as well as enable the printing of high-performance thermoplastics.
Originality/value
The content of the present manuscript will motivate young scholars and senior scientists to work in exploring high-performance thermoplastics for 3DP applications.
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Sinan Sönmez, Kecheng Li and Cornelius Marcello
In this study, the printability properties of different printing substrates coated with biodegradable formulation using different crosslinkers in the flexo printing system were…
Abstract
Purpose
In this study, the printability properties of different printing substrates coated with biodegradable formulation using different crosslinkers in the flexo printing system were examined and the data obtained regarding this was shared.
Design/methodology/approach
In this study, a coating formulation that can both provide barrier properties and be printable at the same time has been developed. The most basic feature that distinguishes this improved formulation from other products used in the packaging industry is that it is biodegradable. However, crosslinkers used in such formulations may affect the chemical structural properties of the formulations. In the study conducted to determine these effects and their effects on printing properties, two different coating formulations were prepared using glyoxal and N-hydroxymethyl acrylamide. The prepared formulation was coated on three different substrates and its printability properties were determined.
Findings
It has been determined that the use of N-hydroxymethyl acrylamide is better than glyoxal in improving both porosity and surface smoothness. Since coating both surfaces reduces the porosity value, the barrier property obtained will be better than single-sided coating. The two-sides coating did not significantly affect the surface roughness. However, higher optical density obtained kraft, kraft has a lower print contrast compared to other paper samples. The use of N-hydroxymethyl acrylamide resulted in an increase in the print contrast value compared to the use of glyoxal. Using glyoxal, the two-sides coating increased the print contrast. Kraft has a lower print chroma. The crosslinking agent change has not affected print chroma. Also, the two-sides coating did not significantly change the print chroma. Office paper and SBS have a higher print lightness compared to other paper samples. After print, gloss values of test sample decreased. The two-sides coating did not significantly change the printability properties.
Originality/value
It is a resource for packaging manufacturers and institutions providing training on this subject.
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Dorota Leszczynska and Jean-Louis Chandon
Do female CEOs face a compensation gap? The purpose of this paper is to examine whether gender affects the total compensation of today’s CEOs, and whether it moderates ten factors…
Abstract
Purpose
Do female CEOs face a compensation gap? The purpose of this paper is to examine whether gender affects the total compensation of today’s CEOs, and whether it moderates ten factors influencing their total compensation.
Design/methodology/approach
Taking the 54 female CEOs cited in the US 2014 Fortune’s 1000 report, a matched sample of male CEOs was selected, matched according to the crosstab of age by education and by the sizes of the companies directed by these female CEOs.
Findings
Using four years’ worth of Fortune reports, between 2013 and 2016, this matched sample indicates that female CEOs are not discriminated against in terms of total compensation. However, eight factors do show a significant effect on total compensation. Using moderation analysis, the present study reveals how gender interacts with company size, sector, membership of outside boards and nature of previous experience.
Research limitations/implications
This paper addresses an important and under-researched gap, with contradictory findings in the existing literature, by compiling and testing the characteristics of male and female CEOs which are not cited in Fortune 1000 reports.
Originality/value
Arguably, this is therefore one of the first papers to study gender differences in total compensation among Fortune 1000 CEOs using a matched sample technique, based on a larger number of female CEOs and a larger number of years than any previous research.