The purpose of this paper is to explore whether share ownership structure plays a role in determining the ex-day pricing of dividends. If share ownership structure, specifically…
Abstract
Purpose
The purpose of this paper is to explore whether share ownership structure plays a role in determining the ex-day pricing of dividends. If share ownership structure, specifically the proportion of the firm’s stock held by individuals vs institutions, has an effect on the ex-dividend day stock price behavior, the ex-day premium is expected to be different for firms with different ownership structures.
Design/methodology/approach
To investigate whether the ex-day pricing of dividends is affected by the proportion of the firm’s stock held by individuals vs institutions, the author look into the ex-day premium. The ex-day premium is calculated by dividing the difference between the closing price on the cum-dividend day and the closing price on the ex-dividend day by the amount of the dividend.
Findings
Consistent with both the tax-based theory and the dynamic trading clientele theory, the author find that the ex-day premium decreases with the level of individual ownership. Consistent with the short-term trading theory, the author also find that the ex-day premium increases with the degree of investor heterogeneity, defined as the product of the proportion of the firm’s stock held by individual investors and the proportion held by institutional investors.
Originality/value
The author believe that this study contributes to the literature by providing useful evidence that share ownership structure affects the ex-day pricing of dividends, and thus this study will be of interest to the readers of managerial finance.
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Yangyang Dong, Tongle Zhang, Shaojie Han, Yipan Guo, Bo Zeng, Yongbin Wang and Zijian Zhang
Spherical robot plays an essential role in the field of mobile robot because of its unique shape and omni-directional mobility, especially in the application of planet detection…
Abstract
Purpose
Spherical robot plays an essential role in the field of mobile robot because of its unique shape and omni-directional mobility, especially in the application of planet detection. Although spherical robot has many advantages over leg robot, its obstacle climbing performance is still not satisfactory, that is exactly the motivation of this paper. The purpose of this paper is to propose a high-performance hopping mechanism for spherical robot, which can adapt to different terrain and effectively cross obstacles.
Design/methodology/approach
The hopping system uses torque spring as part of the energy storage mechanism, and converts the kinetic energy of rotation into elastic potential energy with a particularly designed turntable. Moreover, the track of the turntable, based on the Archimedes spiral principle, has the attributes of equidistance and equivelocity that enable better stability of energy storage process.
Findings
Experiments show that the proposed hopping mechanism can make a 250 g spherical robot jump up to 58 cm with the take-off angle of 60°. Finally, the influence of friction and take-off angle on the hopping height and distance of the robot is also analyzed, which provides a prior guidance for optimizing its jumping process.
Originality/value
This paper shows how to easily design a lightweight, compact and embedded spring hopping structure so that a spherical hopping robot with detection ability can be developed.
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Harish Soundararajan and Sridhar B.T.N.
This study aims to numerically study the three-dimensional (3D) flow field characteristics in a conical convergent divergent (CD) nozzle with an internal strut system to describe…
Abstract
Purpose
This study aims to numerically study the three-dimensional (3D) flow field characteristics in a conical convergent divergent (CD) nozzle with an internal strut system to describe the effect of struts on producing a side force for thrust vectoring applications.
Design/methodology/approach
Struts are solid bodies. When inserted into the supersonic region of the axisymmetric CD nozzle, it induces a shock wave that causes an asymmetric pressure distribution predominantly over the internal surface of the diverging wall of the C-D nozzle, creating a net side force similar to the secondary injection thrust vectoring control method. Numerical simulations were performed by solving Unsteady Reynolds Averaged Navier–Stokes equations with re-normalized group k–ϵ turbulence model. Cylindrical struts of various heights positioned at different locations in the divergent section of the nozzle were investigated at a nozzle pressure of 6.61.
Findings
Thrust vectoring angle of approximately 3.8 degrees was obtained using a single cylindrical strut with a dimensionless thrust (%) and total pressure loss of less than 2.36% and 2.67, respectively. It was shown that the thrust deflection direction could also be changed by changing the strut insertion location. A strut located at half of the diverging length produced a higher deflection per unit total pressure loss.
Practical implications
Using a lightweight and high-temperature resistant material, such as a strut, strut insertion-based thrust vectoring control might provide an alternative thrust vectoring method in applications where a longer period of control is needed with a reduced overall system weight.
Originality/value
This study describes the 3D flow field characteristics which result in side force generation by a supersonic nozzle with an internal strut.
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Samira Rahimi Mavi and Sabine Einwiller
This chapter aims to provide a normative evaluation of companies' web-based external corporate social responsibility (CSR) communication on halal products for ethnic-religious…
Abstract
This chapter aims to provide a normative evaluation of companies' web-based external corporate social responsibility (CSR) communication on halal products for ethnic-religious minorities. It contributes to the existing literature on (political) CSR and moral legitimacy by examining corporate communication on ethical principles. To answer five specific research questions, a content analysis of companies' websites, online shops, Facebook pages, and CSR reports was conducted. The results show that of the 61 companies analyzed, 18% (4 AUT, 7 GER) communicate publicly that they offer halal products. The analysis of the 11 cases that do communicate about their halal offerings shows that only few live up to the principles of transparency and accountability; open discourse with users on Facebook is almost nonexistent as social media communication is mainly defensive and rarely proactive. The practical implications of this study suggest that if companies want to take their role as quasi-political actors seriously, they should be more transparent and accountable about their halal offerings. Supporting the Muslim community through action – that is, offering halal products and working with nonbusiness stakeholders such as nongovernmental organizations (NGOs) to promote inclusion – is key, but also communicating about it is important. However, whether dialogue should take place on social media, where polarization and harmful speech is prevalent, is debatable and requires further research.
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Christos P. Exadaktylos, Dimitrios I. Karatzidis, Theodoros T. Zygiridis and Nikolaos V. Kantartzis
A class of robust and efficient beamforming methods is developed in this paper for the optimised design of realistic microstrip antennas on arbitrarily curved substrates. More…
Abstract
Purpose
A class of robust and efficient beamforming methods is developed in this paper for the optimised design of realistic microstrip antennas on arbitrarily curved substrates. More specifically, this paper aims to focus on the formulation of an effective and computationally light beamforming algorithm and its implementation on a novel realistic cylindrical-substrate microstrip array antenna with significantly decreased size, wideband operation and enhanced radiation characteristics.
Design/methodology/approach
The proposed multi-parametric schemes introduce an efficient null-steering concept, which drastically annihilates the undesired beamformer waveform artefacts, while retaining the real output signal undistorted. In particular, the key objective is the accurate calculation of the appropriate complex feeding weights, required to set nulls along the propagation directions of the unwanted signals and a maximum towards the propagation direction of the desired incoming signal. The featured technique, combined with a modified finite element method, is applied to the design of a new family of cylindrical-substrate microstrip array antennas.
Findings
Numerical results, mainly concerning customisable three-dimensional radiation patterns and attributes, certify the merits of the algorithm and its limited system demands. The introduced beamforming algorithms are applied to a variety of different inputs (desired radiation patterns), which indicate that the designed cylindrical-substrate antenna overwhelms existing designs in terms of computational cost for the beamforming algorithm, while retaining acceptable values for radiation characteristics, such as gain, directivity and side-lobe suppression. In this manner, the effectiveness of the prior methodology and the benefits of this newly shaped array antenna are comprehensively revealed and substantiated.
Originality/value
Rigorous beamforming techniques in conjunction with a class of contemporary array antennas are developed for potential use in high-end communication systems, such as 5G configurations. The proposed cylindrical-shaped structures are systematically designed, with an emphasis on space efficiency and wideband radiation effectiveness to offer fully adjustable setups. To this aim, the cylindrical-substrate microstrip antenna, because of its inherent azimuthal symmetry and confined overall dimensions, provides reliable operation and promising performance.
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Keywords
X.L. Wang, X.D. Bai, X.K. Jiang, C. Wang and C. Chen
The purpose of this paper is to prepare polypyrrolone nanofibres and investigate the effects of concentration of polypyrrolone precursor and voltage on polypyrrolone precursor…
Abstract
Purpose
The purpose of this paper is to prepare polypyrrolone nanofibres and investigate the effects of concentration of polypyrrolone precursor and voltage on polypyrrolone precursor nanofibres by electrospinning, in order to achieve ideal nanofibres.
Design/methodology/approach
Polypyrrolone nanofibres were prepared by polypyrrolone precursor electrospinning. Various fibres were made with different concentrations of polypyrrolone precursor and different voltages. Morphology of fibres was characterised by scanning electron microscopy to study the effect of different preparation conditions on morphology of fibres.
Findings
A method of preparation of polypyrrolone nanofibres with the polypyrrolone precursor by electrospinning was introduced which had not been reported. The effects of concentration of polypyrrolone precursor and voltage on the morphology of the nanofibres were studied. It was found that the concentration of polypyrrolone precursor was the major factor and the voltage also affected the distribution and dimension of polypyrrolone fibres to an extent.
Research limitations/implications
Polypyrrolone nanofibres provided potential applications in solar cells and field‐effect transistors.
Originality/value
To the best of the authors' knowledge, there is no literature on the preparation of polypyrrolone nanofibres by electrospinning. Herein the preparation of polypyrrolone nanofibres by electrospinning is first reported. The polypyrrolone nanofibres might be used in solar cell, non‐linear optics, conducting and semi‐conducting materials.
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Jarraya Abdessalem, Dammak Fakhreddine, Abid Said and Haddar Mohamed
– This paper aims to describe a shape optimization for hyperelastic axisymmetric structure with an exact sensitivity method.
Abstract
Purpose
This paper aims to describe a shape optimization for hyperelastic axisymmetric structure with an exact sensitivity method.
Design/methodology/approach
The whole shape optimization process is carried out by integrating a closed geometric shape in the real space R2 with boundaries defined by B-splines curves. An exact sensitivity analysis and a mathematical programming method (SQP: Sequential Quadratic Programming) are implemented. The design variables are the control points' coordinates which minimize the Von-Mises criteria, with a constraint that the total material volume of the structure remains constant. The feasibility of the proposed methods is carried out by two numerical examples. Results show that the exact Jacobian has an important computing time reduction.
Findings
Numerical examples are presented to illustrate its performance.
Originality/value
In this work, the sensitivity performance is computed using two numerical methods: the efficient finite difference scheme and the exact Jacobian.
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The purpose of this paper is to investigate the impact of Crime Prevention Through Environmental Design (CPTED), a crime prevention tool, on reducing rates of sexual assault. In…
Abstract
Purpose
The purpose of this paper is to investigate the impact of Crime Prevention Through Environmental Design (CPTED), a crime prevention tool, on reducing rates of sexual assault. In addition, the study attempts to understand if CPTED results in crime displacement in non-target areas.
Design/methodology/approach
This research utilizes a Weighted Displacement Quotient (WDQ) model to analyze the effects of CPTED, which is an appropriate tool in fields of regional-scale crime prevention and on sexual assault prevention. WDQ is capable of analyzing policy effectiveness while controlling for geographical crime displacement, a known side effect of CPTED in the literature.
Findings
The analysis results show that CPTED is an effective tool to prevent sexual assaults in South Korea. The sexual assault occurrence rate decreased in the CPTED implementation zone of Yeomri-dong Mapo-gu. WDQ showed that crime displacement occurred in adjacent areas in Daeheung-dong and Ahyun-dong. But, crime displacement was lower than the policy effectiveness in the target zone.
Originality/value
The policy implications of this research are immense. First, CPTED for the prevention of sexual assaults should be considered as a pre-control tool. Second, a strategic method for more effectively implementing CPTED is required. Third, because CPTED is a policy done on a regional scale, provisions need to be in place to manage crime displacement.
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There is significant amount of literature tackling different issues related to the port industry. The present chapter focuses on a single business unit of seaports aiming at the…
Abstract
There is significant amount of literature tackling different issues related to the port industry. The present chapter focuses on a single business unit of seaports aiming at the documentation of works related to container terminals.
An effort to review, collect and present the majority of the works present in the last 30 years, between 1980 and 2010, has been made in order to picture the problems dealt and methods used by the authors in the specific research field. To facilitate the reader, studies have been grouped under five categories of addressed problems (productivity and competitiveness, yard and equipment utilization, equipment scheduling, berth planning, loading/unloading) and four modelling methodologies (mathematics and operations research, management and economics, simulation, stochastic modelling).
The analysis shows that most works focus on productivity and competitiveness issues followed by yard and equipment utilisation and equipment scheduling. In reference to the methodologies used managerial and economic approaches lead, followed by mathematics and operations research.
In reference to future research, two fields have been identified where there is scope of significant contribution by the academic community: container terminal security and container terminal supply chain integration.
The present chapter provides the framework for researchers in the field of port container terminals to picture the so far works in this research area and enables the identification of gaps at both research question and methodology level for further research.
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Kwangwuk Kim, Dong-Hoon Son and Hwa-Joong Kim
In today’s multi-channel distribution environment, it is crucial for the competitiveness of retail stores and companies to improve efficiency of dedicated logistics centers (DLCs…
Abstract
In today’s multi-channel distribution environment, it is crucial for the competitiveness of retail stores and companies to improve efficiency of dedicated logistics centers (DLCs) servicing types of retail outlets such as large retail-stores, super supermarkets, and convenient stores. This paper derives efficiency improvement strategies for DLCs through efficiency analyses. To this end, this paper empirically analyzes the efficiency of DLCs by applying DEA (data envelopment analysis) approaches using real data from a Korean distribution company. In detail, this paper analyzes operations, finance, and service efficiencies of DLCs and performs a comparison analysis on the efficiency between DLCs. Finally, this paper discusses the analysis results considering the DLCs’ characteristics and derives managerial and operational implications.