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Andres Marquez and Chris Maharaj
The purpose of this study was to carry out an analysis of the corrosion failure on a chrome-moly pipeline transporting highly concentrated sulfuric acid in a demineralization…
Abstract
Purpose
The purpose of this study was to carry out an analysis of the corrosion failure on a chrome-moly pipeline transporting highly concentrated sulfuric acid in a demineralization section at a petrochemical plant, along with the feasibility of using inhibitors to minimize the corrosive effects of sulfuric acid.
Design/methodology/approach
X-ray fluorescence spectroscopy, high-resolution optical microscopy, scanning electron microscopy, energy-dispersive X-ray spectroscopy and accelerated corrosion experiments (ACE) were performed.
Findings
Erosion-corrosion failure was confirmed by the significant reduction in thickness of the internal surface of the material exposed to sulfuric acid, as well as the formation of an oxide scale/layer. ACE accurately predicted high material loss from exposure to sulfuric acid. Moreover, adding ascorbic acid as a corrosion inhibitor (even at low concentrations) was found to reduce the oxidation by more than 50% in the presence of sulfuric acid.
Originality/value
The main idea/purpose of this work relies on the analysis of recurrent real-life corrosion-attributed failures that are common in industry but are not properly addressed for a variety of reasons, poor management and lack of corrosion preventive strategies being the main ones. This study once again highlights readily available solutions/implementations that are capable of not only addressing technically the issue investigated but also, and as important, economically. By using microscopic imaging, reliable well-tested and widely used characterization methods, all combined with basic experiments and tests, the nature of the repetitive failure investigated was clearly demonstrated as well as readily available alternatives to minimize it in the short term. Nevertheless, implementing material selection techniques appropriately as effective corrosion prevention/control and cost-saving strategies must be enforced in any process.
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There is a strong political imperative to regard the prison as a key social setting for health promotion, but evidence indicates that drug misuse continues to be a significant…
Abstract
Purpose
There is a strong political imperative to regard the prison as a key social setting for health promotion, but evidence indicates that drug misuse continues to be a significant issue for many prisoners. This paper aims to examine the social and environmental factors within the setting that influence individuals' drug taking.
Design/methodology/approach
Focus groups and interviews were conducted with prisoners and staff in three male training prisons in England. The sampling approach endeavoured to gain “maximum variation” so that a broad based understanding of the prison setting could be gathered. The data were analysed in accordance with Attride‐Stirling's thematic network approach.
Findings
The findings suggest a myriad of social and environmental factors influencing drug use. While staff recognised the scale of the drugs problem, they struggled to cope with creative inmates who were not perturbed by taking risks to gain their supplies. Fellow prisoners played a major role in individuals' decision making, as did the boredom of institutional life and Mandatory Drug Testing (MDT) policies within the institutions.
Practical implications
Drug treatment is an essential component of prison healthcare, but it only forms a small part of creating a health‐promoting setting. If the health‐promoting prison is to be fully realised, a more radical, upstream and holistic outlook is required.
Originality/value
The settings approach is an important theoretical and practical approach in health promotion. In comparison to other settings (such as schools), however, there has been limited research on the prison as a health‐promoting environment.
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James Ward and Di Bailey
Purpose – To consider the unique ethical dilemmas, such as limitations in confidentiality, that research in prison settings is required to address.Methodology/approach – The…
Abstract
Purpose – To consider the unique ethical dilemmas, such as limitations in confidentiality, that research in prison settings is required to address.
Methodology/approach – The ethics of prison-based research are explored within the context of a three-year Participatory Action Research (PAR) project which aimed to involve staff and women in prison in the development of care pathways for self-harm.
Findings – The ethics of prison research are complex and require the balancing of individual rights with prison security requirements. In keeping with the PAR approach the experience for two of the women of being involved in the research and action for change is discussed through their own accounts.
Originality/value of paper – PAR has not been previously used in an English prison; this article provides an account of the ethical considerations of empowering methodologies with people who by their very status as prisoners are disempowered.
Research implications – Although this is just one example within a women's prison the authors assert that PAR as a methodology within a prison environment is not only feasible but also desirable for engaging offenders in the development of services.
Practical implications – The engagement of this traditionally ‘hard to reach’ groups of people can ensure the development of meaningful and effective services based upon service user's experiential expertise (Beresford, 2000).
Social implications – PAR offers those in prison a stake in the development and design of services. This not only has personal benefits for the individual but also is likely to increase service uptake and relevance (Foster, J., Tyrell, K., Cropper, V., & Hunt, N. (2005). Welcome to the team – Service users in staff recruitment. Drink and Drugs News, 21).
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Courtney Field, Alyssa Zovko and Julia Bowman
The purpose of this paper is to compare the rates of chronic health conditions and lifestyle factors between Australian-born and overseas-born inmates and to uncover predictive…
Abstract
Purpose
The purpose of this paper is to compare the rates of chronic health conditions and lifestyle factors between Australian-born and overseas-born inmates and to uncover predictive relationships between lifestyle factors and health outcomes for both groups.
Design/methodology/approach
Data are presented from a cross-sectional study based on a sample of inmates from correctional sites in New South Wales (NSW). The inclusion of results here was guided by the literature relating to the healthy immigrant effect.
Findings
Results indicate that a higher proportion of Australian-born inmates consumed alcohol at higher levels and were more likely to smoke on a daily or almost daily basis than overseas-born inmates. Australian-born inmates were also more likely than overseas-born inmates to have been diagnosed with cancer, epilepsy or hepatitis C. Physical activity predicted the number of diagnoses for Australian-born inmates while physical activity and smoking frequency predicted the number of diagnoses for overseas-born inmates.
Practical implications
Overseas-born inmates make up a considerable portion of the prison population in NSW. A better understanding of those health and lifestyle factors that distinguish them from Australian-born inmates provides important insight regarding health promotion and the planning of service provision for those providing health care in this space.
Originality/value
Comparison of the health of immigrant and native-born prison inmates has not been undertaken before and promises to provide important information regarding those factors that distinguish a sizeable minority in the prison population.
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Rongbing Huang and James G. Tompkins
The purpose of this paper is to study the role of corporate governance in abnormal returns around announcements of seasoned equity offerings (SEOs) by publicly traded US firms…
Abstract
Purpose
The purpose of this paper is to study the role of corporate governance in abnormal returns around announcements of seasoned equity offerings (SEOs) by publicly traded US firms from 2001 to 2004.
Design/methodology/approach
Cross‐sectional regression analysis was used to determine which variables are important to the market's reaction to the SEO, with a particular focus on corporate governance variables.
Findings
It was found that investors react more positively for firms in which different people hold the CEO and board chairman positions. Limited evidence was found that investor reaction is more positive when the board has a greater representation of outside directors, the CEO has less ownership, and the board is not too large. These findings suggest that investors react more favorably to SEOs by firms with stronger corporate governance mechanisms that reduce adverse selection or agency problems.
Practical implications
This paper's findings are evidence that stronger boards can reduce a firm's cost of raising additional equity capital. Originality/value – There is not believed to be any other published paper that examines the impact of corporate governance mechanisms on the reaction to SEOs with such a comprehensive sample or in post‐Enron periods.
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The purpose of this paper is to discover how firms use issue proceeds from seasoned equity offerings (SEOs).
Abstract
Purpose
The purpose of this paper is to discover how firms use issue proceeds from seasoned equity offerings (SEOs).
Design/methodology/approach
Utilizing a large sample of industrial corporations, the authors perform a series of regressions in which the dependent variable is one of six use categories and the independent variables are issue proceeds, other sources, and control variables. The impact of macroeconomic conditions on the use of issue proceeds is explicitly considered and the primary use is found to be investment in R&D.
Findings
Some evidence is found that issue proceeds are funnelled into cash, capital expenditures, and acquisitions but these do not seem to be the primary use. While the results suggest a motive for issue that does not rely on behavioural theories, they also suggest that investment theories must reconcile the weak post‐issue performance of SEO firms with the fact that, in general, R&D investment is associated with positive abnormal returns and operating performance. To that end the evidence is consistent with equity issues being made in reaction to exogenous reductions in required returns and during periods when growth opportunities are more plentiful.
Originality/value
This is the first paper to explicitly consider the role of macroeconomic conditions in the use of proceeds from seasoned equity issues and to document that the primary use is investment in R&D. The results will help scholars better understand the motivation for SEOs and assist in evaluating explanations of the poor performance of issuers. The results also provide practitioners with valuable benchmarks of the use of issue proceeds, which they can use to evaluate equity as a source of external funding for their company.
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In this study we analyze the determinants of the type and structure of debt included in dual offerings of debt and equity. Our sample consists of 54 dual offerings of convertible…
Abstract
In this study we analyze the determinants of the type and structure of debt included in dual offerings of debt and equity. Our sample consists of 54 dual offerings of convertible bond and common stock (CBCS) and 258 dual offerings of straight bond and common stock (SBCS). We find that firms with high asset substitution problems are more likely to issue CBCS offerings instead of SBCS offerings. These firms are also more likely to include convertible bonds with a high probability of conversion in the issue. The probability of CBCS offerings is higher for firms with low information asymmetry and during high interest rate periods. We also find that the announcement returns of CBCS offerings are lower than the returns of SBCS offerings.
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Mackenzie Mountford and Faye M. Vento
Children's marginalisation in research limits their opportunities to create meaningful social change. This project explored children's meaningful participation in Participatory…
Abstract
Children's marginalisation in research limits their opportunities to create meaningful social change. This project explored children's meaningful participation in Participatory Action Research as a tool to empower children as change makers. An adult and child co-researcher collaborated to conduct a literature review on a social issue chosen by the child: helicopter parenting. Highlighting that children and adults have access to different knowledge based on their status in society, the co-researchers wrote about helicopter parenting from three different perspectives: media, psychology and childhood studies. Through a reflection on the research process, the co-researchers offer insight into the impact of mutual relationships, power imbalances, and emotions on children's meaningful participation in research. They also present the value of children's voices in research and research as a learning opportunity for adults and children. Ultimately, the co-researchers aim to challenge readers to reflect on creating more equitable research practices with children to enhance children's opportunities to make change through research.
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The focus of this paper is on the problem of managerial opportunism in the corporate governance of UK quoted property companies. Agency conflicts exist between firm managers and…
Abstract
The focus of this paper is on the problem of managerial opportunism in the corporate governance of UK quoted property companies. Agency conflicts exist between firm managers and owners because of the separation of ownership from management. Consequently, managers pursue activities that enhance their interests rather than that of the shareholders’. The empirical investigation of this paper is divided into two sections. The first part examines the ownership structure of 83 UK quoted property companies between 1989 and 1995, revealing that close to a quarter of the common shares issued by the companies are held by the managers. The gap between ownership and management appears to increase with firm size, risk and growth rate but decrease with corporate performance. In the second section, logit modeling is employed to examine 110 security issues of the companies during the study period. The evidence shows that ownership structure has an influence on the debt‐equity choice of property companies. Consistent with the findings of previous studies, the study also reveals that the capital structure choice is dictated to a large extent by company size, issue size, and condition of the security market. The empirical analysis also suggests that property companies make their financing decisions as though they have a target capital structure in mind.