Robert E. Williams, Daniel F. Walczyk and Hoang T. Dang
To determine the feasibility of sealing and finishing conformal cooling/heating channels in profiled edge laminae (PEL) rapid tooling (RT) using abrasive flow machining (AFM).
Abstract
Purpose
To determine the feasibility of sealing and finishing conformal cooling/heating channels in profiled edge laminae (PEL) rapid tooling (RT) using abrasive flow machining (AFM).
Design/methodology/approach
Sample PEL tools constructed of both aluminum and steel were designed and assembled for finishing by AFM. A simple design of experiments approach was utilized. Output parameters of interest included the material removal, surface roughness improvement and, most importantly, the ability to withstand a pressurized oil leak test.
Findings
AFM significantly improved the finish in the channels for aluminum and steel PEL tooling. Leak testing found that AFM also improved the sealing of both stacks at static pressures up to 690 kPa. The steel tooling appeared to benefit more from the AFM process. It has been postulated that the primary cause of the sealing is the plastic deformation of workpiece material in the plowing mode.
Research limitations/implications
The conformal channels studied had a simple cross‐sectional geometry and straight runs. The PEL tools were only made of two materials. However, the research results show great promise for large RT, including thermoforming and composite forming molds where temperature control is a critical issue.
Practical implications
The ability to seal the interfaces between individual laminae expands the potential application of AFM tremendously. AFM also has the potential to finish a wide range of internal passages in a variety of RT.
Originality/value
AFM has been previously used for finishing stereolithography prototypes. This is the first known attempt to seal and finish channels in laminated RT using AFM.
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Tolga Dursun and Costas Soutis
The purpose of this paper is to investigate the effect of fastener geometry (protruding head and countersunk fastener) and friction coefficient on the stress distributions around…
Abstract
Purpose
The purpose of this paper is to investigate the effect of fastener geometry (protruding head and countersunk fastener) and friction coefficient on the stress distributions around the hole of the double-lap single bolted aluminium alloy joints.
Design/methodology/approach
3D finite element analyses of double-lap bolted 7075-T6 aluminium joints were carried out. An elastic-plastic multi-linear kinematic hardening material behaviour was assumed for the Al alloy. Contact was defined using an augmented-Langrange contact algorithm, including the friction effect. Bolt clamping force and remote axial tensile loading were applied in two load steps and their separate and combined effects on the joint behaviour were investigated for two types of fastener configurations.
Findings
It was observed that bolt clamping reduces the axial tensile stress at the hole edge by introducing a through-thickness compressive stress. This reduction in stress concentration may have a beneficial effect on the fatigue life of the joint. Second, bolt clamping reduces the bearing stress at the fastener hole by creating a frictional force between the joint plates. Results showed that the joint with protruding head fastener shows lower tensile stress concentration, and lower bearing stress, near the bolt hole of the middle plate.
Originality/value
Bolt clamping force reduces both the stress concentration near the hole edge and the bearing stress at the hole by creating a frictional force. Joint with a protruding head fastener may lead to higher load carrying capability and improved fatigue life. Friction coefficient affects the stress levels around the bolt hole.
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This study aims to investigate the institutional, macroeconomic and firm-specific determinants of financial leverage in Vietnam and provides new evidence from the dynamic panel…
Abstract
Purpose
This study aims to investigate the institutional, macroeconomic and firm-specific determinants of financial leverage in Vietnam and provides new evidence from the dynamic panel fractional estimator.
Design/methodology/approach
This study uses a panel dataset of 859 Vietnamese firms from 2008 to 2022 and employs three estimators: Feasible Generalized Least Squares (FGLS), System Generalized Method of Moments (SysGMM) and Dynamic Panel Fractional (DPF), with DPF being particularly suitable for handling fractional dependent variables and the dynamic nature of financial leverage.
Findings
The results confirm the dynamic nature of the financial leverage model, with firm-specific factors, institutional factors and macroeconomic factors playing significant roles in shaping firms' financing decisions. The DPF estimator highlights the positive impact of stock market development on leverage. This study contributes to the literature by providing new evidence on the determinants of leverage in Vietnam, using the DPF estimator for more accurate estimation and revealing the significant impact of the size of the banking sector, the size of the stock market, the stock market development index, the financial development index and the corruption perception index on leverage.
Originality/value
This study contributes to the literature by providing new evidence on the dynamic nature of the financial leverage model and the impact of institutional, macroeconomic and firm-specific factors on financial leverage in the context of Vietnam. The use of the DPF estimator allows for a more accurate and reliable estimation of the determinants of leverage, considering the fractional nature of the dependent variable and the persistence of capital structure decisions over time.
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Ammad Ahmed, Atia Hussain and Abiot M. Tessema
This study aims to examine the association between audit partner busyness and audit quality. Moreover, this research investigates whether boardroom gender diversity moderates the…
Abstract
Purpose
This study aims to examine the association between audit partner busyness and audit quality. Moreover, this research investigates whether boardroom gender diversity moderates the relationship between audit partner busyness and audit quality in Australia.
Design/methodology/approach
The study sample consists of all public companies listed on the Australian Stock Exchange from 2005 to 2014. The data is obtained from SIRCA and the Morning Star databases. The study uses fixed effects and logistic regression techniques to test the relationship between audit partner busyness, boardroom gender diversity and audit quality.
Findings
The collected empirical evidence shows that audit partner busyness is negatively associated with audit quality. In contrast, boardroom gender diversity moderates the relationship between audit partner busyness and audit quality. More specifically, the results suggest that board gender diversity mitigates the negative impact of audit partners’ busyness on the audit quality. The results are robust to endogeneity and alternative definitions of audit partner busyness, boardroom gender diversity and audit quality.
Practical implications
The study’s findings will be of interest to policymakers, regulators and investors in the Australian market. The results show the importance of gender-diverse boards in companies’ audit functions, particularly in the presence of busy audit partners, and hence support the call for more women on corporate boards in Australia. Moreover, the results call for a cap or upper limit on the number of clients an audit partner can take on based on their capacity.
Originality/value
The authors contribute to the growing literature on board gender diversity, audit partner busyness and audit quality. Although a plethora of prior literature suggests a negative association between audit partner busyness and audit quality, the results suggest that women in the boardroom positively moderate the relationship between audit partner busyness and audit quality.
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Van Dan Dang and Hoang Chung Nguyen
This paper aims to investigate the link between uncertainty in banking and bank lending behavior, particularly shedding light on the modifying role of bank competition in the…
Abstract
Purpose
This paper aims to investigate the link between uncertainty in banking and bank lending behavior, particularly shedding light on the modifying role of bank competition in the nexus.
Design/methodology/approach
The study uses a panel of Vietnamese banks over the 2007–2019 period for empirical analysis and the dispersion of shocks to bank-level variables to measure banking uncertainty. To strongly confirm our findings, the authors perform a battery of alternative checks based on different econometric techniques, including fixed effect regressions with Driscoll–Kraay standard errors, the two-step system generalized method of moments estimator and the least squares dummy variable-corrected estimator.
Findings
Uncertainty induces multifaceted unfavorable impacts on bank lending. Concretely, banks tend to restraint loan growth, suffer more credit risk, and charge higher lending rates during periods of higher uncertainty. Further investigation reveals that lending activities of banks with greater market power are less sensitive to adverse uncertainty shocks; in other words, increased competition in the banking system is associated with more substantial consequences of uncertainty on bank lending.
Originality/value
To the best of the authors’ knowledge, this study is the first attempt to simultaneously explore the impacts of uncertainty on quantity, quality and prices of bank lending. This paper also aim at putting forth the level of uncertainty particularly related to the banking sector. Importantly, examining the conditionality of the linkage between uncertainty and bank lending with respect to bank competition is entirely novel.
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Van Thac Dang, Ninh Nguyen, Hoang Viet Nguyen, Hoang Nguyen, Le Van Huy, Viet Thao Tran and Tran Hung Nguyen
Facial recognition payment (FRP) has been recently introduced as a new cashless payment method in retail store context. Anchored on information systems and consumer theories, this…
Abstract
Purpose
Facial recognition payment (FRP) has been recently introduced as a new cashless payment method in retail store context. Anchored on information systems and consumer theories, this research aims to investigate the key antecedents and outcomes of consumer attitudes toward this innovative payment method.
Design/methodology/approach
This research used a survey method to obtain data from 795 consumers at retail stores in China. The data were then analyzed by different statistical methods, including descriptive statistics, reliability analysis and structural equation modeling.
Findings
Results show that perceived usefulness, perceived ease of use and perceived innovativeness positively affect consumer attitudes toward FRP, while perceived risk negatively impacts such attitudes. In addition, consumer attitudes enhance store satisfaction, and hedonic shopping value plays a mediating role in this relationship.
Practical implications
This study encourages retailers to adopt FRP that can enhance consumer hedonic shopping value and satisfaction.
Originality/value
This study contributes to the literature by explaining both the antecedents and the outcomes of consumer attitudes toward FRP in retail context. The study also provides fresh insights into how such attitudes can improve consumers' shopping values and satisfaction in an emerging market.
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Van Dan Dang and Hoang Chung Nguyen
The study examines the impact of uncertainty on bank opacity while particularly taking into account the moderating role of market structures.
Abstract
Purpose
The study examines the impact of uncertainty on bank opacity while particularly taking into account the moderating role of market structures.
Design/methodology/approach
Using a sample of Vietnamese banks from 2007 to 2019, the paper measures uncertainty at the disaggregate level of the banking sector through the dispersion of bank shocks and capture bank opacity from the perspective of bank earnings management based on discretionary loan loss provisions. The authors apply both structural and non-structural proxies of bank competition/concentration to better explore the role of market structures. Empirical regressions are conducted using the fixed effect regressions with Driscoll–Kraay standard errors and the two-step system generalized method of moments (GMM) technique, and then verified by the least squares dummy variable corrected (LSDVC) estimator.
Findings
Bank earnings opacity is less severe in periods of higher uncertainty. Further analysis documents that the negative impact of uncertainty on bank earnings opacity is stronger when the level of bank competition increases or when bank market power decreases.
Originality/value
The finding highlighting the conditioning role of market structures is entirely novel in the uncertainty-bank opacity literature. Moreover, in providing additional evidence on the significant impact of uncertainty on bank opacity, while prior related studies explore economic policy uncertainty, the authors utilize micro uncertainty in banking that exhibits enormous superiority.
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Van Dan Dang and Hoang Chung Nguyen
The paper investigates the link between uncertainty and banks' balance sheet reactions.
Abstract
Purpose
The paper investigates the link between uncertainty and banks' balance sheet reactions.
Design/methodology/approach
The study employs bank-level data in Vietnam during 2007–2019 to measure micro uncertainty in banking through the dispersion of bank-level shocks. Empirical regressions are performed by the two-step system generalized method of moments (GMM) estimator and then verified using the least squares dummy variable corrected (LSDVC) technique.
Findings
Banks tend to reduce risky loans, hoard more liquidity and decrease financial leverage in response to higher uncertainty. The relationship between uncertainty and banks' balance sheet reactions is more pronounced for banks that suffer more credit risk and overall risk, thus supporting the precautionary motive of banks. Additionally, uncertainty also leads to a decline in the Net Stable Funding Ratio (NSFR) under Basel III, implying that banks may fail to find a more stable source of funding and be more subject to maturity mismatch during periods of higher uncertainty.
Originality/value
The paper is the first to explore comprehensively the relationship between uncertainty and banks' balance sheet aspects as simultaneously estimated by bank loans, bank liquidity and bank leverage. While many other uncertainty measures display aggregate uncertainty sources, an important contribution in this study is to anatomize uncertainty originating exclusively from banking at a disaggregate level. Besides, shedding light on how uncertainty drives bank funding liquidity as captured by the NSFR under Basel III is entirely novel in the literature.
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Nguyen Vinh Khuong, Doan Thi Ngoc Anh, Pham Minh Nhu, Tai Vu Tran Trong, Nguyen Thi Kieu Trang and Dang Hoang Kha Thy
This study aims to examine the relationship between key audit matters (KAMs) and the restatement of financial statements, assessing their impact on the financial statement…
Abstract
Purpose
This study aims to examine the relationship between key audit matters (KAMs) and the restatement of financial statements, assessing their impact on the financial statement restatement process.
Design/methodology/approach
This study aims to examine the economic context of Vietnam by analyzing data from 170 listed enterprises on the Vietnam stock exchange from 2010–2021. Feasible generalized least squares and robustness regression are conducted to give results and conclusions.
Findings
The results show that the KAMs disclosure in the financial statements has not really significantly affected the quality of an audit, so the KAMs disclosure does not have too much impact on the restatement of financial statements. However, this study found that the number of disclosed KAMs would partly reflect the shortcoming that exists in companies' financial statements.
Practical implications
The authenticity of financial statements is crucial for companies to meet auditor requirements, particularly KAMs. Restatements can influence business decisions and provide more accurate financial information to stakeholders. Thus, studying the impact of KAMs on restatement is essential for improving the veracity and reliability of financial statements.
Originality/value
This study clarifies the important role of KAMs in financial statements to recommend investors to be more careful in considering KAMs disclosed by auditors in audit reports. In addition, this study helps to add an overview of KAMs in emerging markets like Vietnam, as well as helps stakeholders to improve the legal system on Accounting – Auditing in Vietnam.
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Viet Anh Hoang, Man Dang, Ngoc Vu Nguyen, Ngoc Thang Nguyen and Darren Henry
The purpose of this paper is to investigate the effects of cross-country characteristics on acquirers' target status choice in cross-border mergers and acquisitions across 41…
Abstract
Purpose
The purpose of this paper is to investigate the effects of cross-country characteristics on acquirers' target status choice in cross-border mergers and acquisitions across 41 emerging markets.
Design/methodology/approach
The paper first reviews the existing literature and develops the related hypotheses, in conjunction with the objectives of this paper. We then describe the data employed, variable measurement and examine the effects of cross-country characteristics on the acquirers' target status choice in cross-border mergers and acquisitions while controlling for firm-level and deal-specific characteristics. The paper continues to conduct the robustness check on cross-country determinants of target status choices using the difference independent variables rather than target country-level variables only.
Findings
This research found that the likelihood of a public firm acquired relative to private one is higher if the target firm is located in countries with stronger government quality, weaker economic freedom, better financial market development and lower cultural distance between the host and home countries. The results suggest that bidders actively assess cross-country characteristics as part of their acquisition planning.
Originality/value
Rather than commonly analysed determinants in the previous research such as firm- and deal-specific attributes, value creation and shareholder protection, this paper indicates that institutional environments and economic conditions are closely associated with acquisition risks and benefits and have direct influences on bidder firms' acquisition bidding planning and target choice decision-making.