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A finite element model for multimaterial configurations is presented. The material behavior of each body within a composite material is given by an elastic‐viscoplastic constitutive law. Automatic remeshing techniques which preserve the topology of the different bodies of material are used to simulate large deformations of the multiphasic system. An experimental set‐up has been designed in order to simulate the compaction of multilayer composite materials. Plasticine was chosen as a model material. Experimental results are used to validate the finite element model for consolidation of multilayer composites.

This paper aims to optimize feed moisture contents, barrel temperatures, blending ratios of maize and lupine for processing of protein-rich best quality extruded product using a twin-screw extruder.

A three-factor three-level response surface methodology by Box-Behnken Design was applied to evaluate the effect of selected processing conditions of blending ratios of lupine (10-20 per cent), barrel temperatures (120°C-150°C) and feed moisture content (14-18 per cent) on functional, nutritional and sensory characteristics of produced snack food.

The results of functional properties such as radial expansion ratio, bulk density, water absorption index, water solubility index observed as 0.71-1.2, 0.33-0.92 g/cc, 4.4-6.4 per cent and 10.2-15.1 per cent, respectively. The snack food showed the moisture 5.6-7.2 per cent, protein 8.1-18.1 per cent, fiber 1.6-2.7 per cent, ash 1.6-2.2 per cent and carbohydrate 64.8-81.4 per cent. The independent variables (lupine blending ratio, barrel temperature and feed moisture content) posed significant effects on expansion ration (p = 0.0030), bulk density (p = 0.0026), water absorption index (p = 0.0075) and water-solubility index (p = 0.0116). Higher blending ratio of lupine was increase in the bulk density and water solubility index, but decrease in expansion ratio and water absorption index of snack food. Higher feed moisture content was led to a reduction in expansion ratio and water-soluble index of snack food. Whereas, higher feed moisture contents was lead to rise in bulk density and water absorption index. Fiber (p = 0.0145), ash (p = 0.0343) and carbohydrate (p = 0.0001) contents were significantly depended on blending ratio. Blending of lupine 15.06 per cent, barrel temperature of 150 °C and feed moisture content of 14.0 per cent produced the snack food with desirability value of 72.8 per cent.

Protein malnutrition is one of the major problems in child development in under developed countries including Ethiopia. Maize is a top producer in the country but least appreciated for cost. Lupine is one of the undervalued produce consumed in Ethiopia after boiling. Still data on the utilization of maize and lupine in the extruded snack preparation was very limited. Optimization of moisture and barrel temperatures for this snack was not reported clearly yet.

This study examines the ethical and social consequences of the accelerated adoption of new technologies. An empirical approach is employed to explore the impacts of rapid technological integration on societal norms, ethical considerations, and individual behaviours. Responses from 305 participants are analysed using partial least squares structural equation modelling (PLS-SEM), focusing on perceived usefulness, ease of use, relative advantage, personal innovativeness, and fear of missing out (FOMO). The findings unveil intricate interactions between technological advancements and ethical–social dynamics, underscoring challenges and opportunities. This study offers critical insights for policymakers, technology developers, and society at large, aiming to encourage a more ethically informed and socially conscious approach to technology adoption.

This study aims to analyse whether and when victim incivility may be related to work-to-family conflict and then burnout among emergency workers.

A total of 304 Italian emergency workers from five firehouses and six emergency rooms completed questionnaires, examining: victim incivility, work-to-family conflict, social support seeking and burnout symptoms. Descriptive analyses, confirmatory factor analyses and structural equation models were conducted.

Victim incivility was positively associated with burnout symptoms, both directly and indirectly, as mediated by work-to-family conflict. Additionally, social support seeking exacerbated (rather than mitigated) the impact of work-to-family conflict on burnout symptoms.

Organisations can greatly benefit from implementing family-friendly practices and providing their workers with training programmes on how to deal with difficult victims.

This study contributes to the existing literature on workplace incivility and work–life interface by supporting for the first time the notion that victim incivility can spill over into emergency workers' family domain and by clarifying how and when victim incivility is related to burnout symptoms.

This paper demonstrates that present value (PV) models can be viewed as multiperiod extensions of accrual income statements (AISs). Failure to include AIS details in PV models may lead to inaccurate estimates of earnings and rates of return on assets and equity and inconsistent rankings of mutually exclusive investments. Finally, this paper points out that rankings based on assets and equity earnings and rates of return need not be consistent, requiring financial managers to consider carefully the questions they expect PV models to answer.

AISs are used to guide the construction of PV models. Numerical examples illustrate the results. Deductions from AIS definitions demonstrate the potential conflict between asset and equity earnings and rates of return.

PV models can be viewed as multiperiod extensions of AISs. Mutually exclusive rankings based on assets and equity earnings and rates of return need not be consistent.

PV models are sometimes constructed without the details included in AISs. The result of this simplified approach to PV model construction is that earnings and rates of return may be miscalculated and rankings based as asset and equity earnings and rates of return are inconsistent. Tax adjustments for asset and equity earnings may be miscalculated in applied models.

This paper provides guidelines for properly constructing PV models consistent with AISs.

PV models are especially important for small to medium size firms that characterize much of agricultural. Providing a model consistent with AIS construction principles should help financial managers view the linkage between building financial statements and investment analysis.

This is the first paper to develop the idea that the PV model can be viewed as a multiperiod extension of an AIS.

The robust appraisal of exploration drilling concepts is essential for establishing the economic viability of a prospective recovery field. This study evaluates the different concept selection methods that were considered for drilling operations at the Trym field in Norway. The construction of drilling rigs is a capital-intensive process, and it involves high levels of economic risk. These risks can be broadly categorised as aleatoric (i.e. those related to chance) and epistemic (i.e. those related to knowledge). Evaluating risks in the investment appraisal process tends to be a complicated process. Project risks are evaluated using Monte Carlo simulation (MCS) and are based on the fuzzy analytic hierarchy process (AHP). MCS provides a useful means of evaluating variabilities (i.e. aleatoric risks) in oil drilling operations. However, many of the economic risks in oil drilling processes are unanticipated, and, in some cases, are not readily expressible in quantitative values. The fuzzy AHP is therefore used to appraise the qualitatively defined indirect revenues comprising risks that affect future flexibilities, schedule certainty and health and safety performance. Both the Monte Carlo technique and the fuzzy AHP technique found that a cumulative revenue variation of up to 30% is possible in any of the considered drilling options. The fuzzy AHP technique estimates that the chances of profitability being less than NOK 1 billion over a five-year period is 0.5%, while the Monte Carlo technique estimates suggest a more conservative proportion of 10%. Overall, the fuzzy AHP technique is easy to use and flexible, and it demonstrates increased robustness and improved predictability.

The literature on project finance appraisal contains several ambiguities mainly concerning the correct method of equity cash flow (ECF) determination. This vagueness can lead to serious misevaluation of these projects. The purpose of this paper is to present and justify a correct method of ECF determination for project finance evaluation.

Based on the analysis of the specificity of project finance ventures and the study of existing literature, the authors propose a coherent model of ECF estimation that avoids misevaluating project finance ventures.

This paper demonstrates that the potential dividends methodology of ECF estimation, used commonly in the corporate finance world, leads to the erroneous valuation of project finance investments. Moreover, simulations demonstrate that the scale of this misevaluation is an increasing function of the debt covenant duration, the required rate of return, and the investment outlay dispersion over time. The proposed model of proper project finance valuation, despite inconsistency with assumptions of the fair value concept, is best suited for project finance venture appraisal, taking into consideration the inherently specific timing of the ECF.

This paper rectifies, clarifies, and extends the range of existing solutions for the project finance valuation and the application of the concepts of actual dividends and potential dividends in different valuation contexts. Furthermore, it proposes a simple and coherent method to value project finance ventures. Additionally, it offers evidence of the scale of NPV misevaluation in project finance, which occurs when the potential dividends approach is utilized.

The purpose of the paper is to focus on the rating, ranking and valuing of firms.

Fuzzy logic and expert systems are used in order to provide a score for the firm(s) under consideration, representing the firm value‐creating power.

The fuzzy expert system introduced is capable of dealing with both quantitative and qualitative variables and integrates financial, managerial and strategic variables. A sensitivity analysis corroborates the model.

The system is apt to rate and rank firms within a sector. Some regression analysis can lead to a determined price for the target firm.

The expert system may be used by rating agencies for ranking firms, and by financial analysts and potential buyers to furnish a price for acquisition.

The use of a fuzzy expert system for ranking firms within a sector and pricing firms is a first attempt at an alternative way of measuring performance and value.

Despite many troublesome aspects in its use, the risk-adjusted discount rate has survived and continues to be extensively used by practitioners. While the appropriate discount rate for projects as risky as the current business operations of the firm can be estimated relatively easily as the firm’s cost of capital, no clear guideline is available for projects with a higher risk profile. The purpose of this paper is to evaluate an appropriate risk addendum for such risky projects.

Extending the framework developed by Davies et al. (2012), the perceived risk in a project is captured by focussing on a downside case scenario and estimating its probability and severity. An expression is then developed for the risk addendum (as an addendum to the firm’s cost of capital) that can be used to find the value of a risky project.

The risk addendum is found to depend only on the product of the probability (p) and the severity (d) of the downside case scenario and not on either of them individually It was also found that the risk addendum rises fast for projects with shorter lives and so is the highest for risky projects with short lives.

Managers can use the expression derived to evaluate an appropriate risk addendum for risky projects.

The paper suggests a simple framework to quantify the risk involved in a project and to evaluate an appropriate risk addendum.