In smart cities striving for innovation, development, and prosperity, hydrogen offers a promising path for decarbonization. However, its effective integration into the evolving…
Abstract
In smart cities striving for innovation, development, and prosperity, hydrogen offers a promising path for decarbonization. However, its effective integration into the evolving energy landscape requires understanding regional intricacies and identifying areas for improvement. This chapter examines hydrogen transport from production to utilization, evaluating technologies’ pros, cons, and process equations and using Analytic Hierarchy Process (AHP) as a Multi-Criteria Decision-Making (MCDM) tool to assess these technologies based on multiple criteria. It also explores barriers and opportunities in hydrogen transport within the 21st-century energy transition, providing insights for overcoming challenges. Evaluation criteria for hydrogen transport technologies were ranked by relative importance, with energy efficiency topping the list, followed by energy density, infrastructure requirements, cost, range, and flexibility. Safety, technological maturity, scalability, and compatibility with existing infrastructure received lower weights. Hydrogen transport technologies were categorized into three performance levels: low, medium, and high. Hydrogen tube trailers ranked lowest, while chemical hydrides, hydrail, liquid organic hydrogen carriers, hydrogen pipelines, and hydrogen blending exhibited moderate performance. Compressed hydrogen gas, liquid hydrogen, ammonia carriers, and hydrogen fueling stations demonstrated the highest performance. The proposed framework is crucial for next-gen smart cities, cutting emissions, boosting growth, and speeding up development with a strong hydrogen infrastructure. This makes the region a sustainable tech leader, improving air quality and well-being. Aligned with Gulf Region goals, it is key for smart cities. Policymakers, industries, and researchers can use these insights to overcome barriers and seize hydrogen transport tech opportunities.
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Abstract
Purpose
In this study, organo clay modified alkyd resins were synthesised and these modified alkyd resins were cured with different ratios of phenol formaldehyde resin. The purpose of this paper is to investigate the physical and chemical properties of the films and thermal behaviours of the resins.
Design/methodology/approach
Alkyds formulated to have an oil content of 40 percent were prepared with phthalic anhydride (PA), glycerine (G), coconut oil fatty acid (COFA), dipropylene glycol (DPG) and organo clay. “K alkyd constant system” was used for the formulation calculations of the alkyd resins. Alkyd resins were blended with 30 percent of a phenol–formaldehyde. The films of the alkyd–phenol formaldehyde (A‐PF) resins were prepared from 60 percent solid content xylene solutions by using 50 μm applicators. After the films were cured at 150°C for 2 h in an oven, properties of the films were determined.
Findings
The effect of organo clay addition on the film properties such as drying degree, hardness, adhesion strength, impact resistance, water, acid, alkaline, solvent resistance and thermal behaviours of the resins were investigated. The addition of organo clay has a positive effect on the physical and chemical film properties for phenol formaldehyde resin.
Originality/value
The paper reports on a study in which organo clay modified A‐PF resins for manufacturing of industrial baking enamels were synthesised for the first time.
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Hong Thi Hoa Nguyen, Dat Tien Nguyen and Anh Hong Pham
The purpose of this paper is to examine the effects of share repurchase announcements on the stock price of rival firms in the same industry in Vietnam during 2010–2017.
Abstract
Purpose
The purpose of this paper is to examine the effects of share repurchase announcements on the stock price of rival firms in the same industry in Vietnam during 2010–2017.
Design/methodology/approach
Both event study and t-test are employed to test the effects of share repurchase announcements on rival firms. In addition, cross-sectional analysis by ordinary least square regression is also applied for investigating the heterogeneous effects due to information transfer.
Findings
The finding shows that stock repurchase announcements result in a positive and significant valuation effect for both announcing firms and rival firms in Vietnam. Furthermore, the degree of signal to the industry is conditional on the degree of signal about the announcing firms as a contagious effect. Intra-industry effects are more favorable when profit performance of rival firms is good and when leverage of rival firms is low.
Practical implications
Rival firms can seize opportunities surrounding share repurchase announcements in the same industry in Vietnam. However, due to firm characteristics, intra-industry effects of stock repurchases differ among industries.
Originality/value
By examining different methods, the paper attributes valuable results to investigate the stock price behavior of rival firms in the same industry when firms announce stock repurchase in Vietnam.
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Alastair Marsden, Russell Poskitt and Yinjian Wang
The purpose of this paper is to investigate the impact of the introduction of New Zealand's statutory‐backed continuous disclosure regime enacted in December 2002 on the…
Abstract
Purpose
The purpose of this paper is to investigate the impact of the introduction of New Zealand's statutory‐backed continuous disclosure regime enacted in December 2002 on the differential disclosure behaviour of New Zealand firms with good and bad earnings news.
Design/methodology/approach
This paper examines the level of information disclosure, analyst forecast error and forecast dispersion, abnormal returns and abnormal volumes for firms with good and bad news earnings announcements in a sample period surrounding reforms to New Zealand's continuous disclosure regime.
Findings
The authors find evidence that the pre‐announcement information flow was poorer prior to the reform for bad news firms compared to good news firms, in terms of greater analysts' forecast dispersion and a larger abnormal price reaction to the actual earnings announcement. Second, the reform reduced the asymmetry of information flow between good and bad news firms, with the differences in analysts' forecast dispersion and abnormal price reaction dissipating after the reform.
Research limitations/implications
The findings suggest that the reforms to New Zealand's continuous disclosure regime have reduced managers' propensity to withhold bad news and improved the quality of information provided to investors by firms with bad earnings news.
Originality/value
This study improves our understanding of the impact of disclosure reform on the behaviour of managers in a market with relatively low liquidity and less litigation risk in comparison to larger and more developed markets.
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Halil Kizilaslan, Z. Gokalp Goktolga and Nuray Kizilaslan
The purpose of this paper is to determine the socio‐economic factors affecting meat sales outlets, as preferred by the consumers of the city of Tokat, Turkey. This paper…
Abstract
Purpose
The purpose of this paper is to determine the socio‐economic factors affecting meat sales outlets, as preferred by the consumers of the city of Tokat, Turkey. This paper underlines the social and economic factors leading to healthy meat outlet preferences and focuses the attention of producers, policy makers, sellers and consumers on the issue, which will lead to the creation of a healthier and more aware society.
Design/methodology/approach
Within the research, the sample size, preferred as 263, will deviate at a maximum of 6 percent from the main population at 95 percent importance level. The inquiries are proportionally dispersed between the quarters, considering the population, in accordance with the records of 2006. Surveys were carried out by way of direct interviews by the researchers. In the survey, particular attention was paid to ensure that the interviewee was the decision maker in regards to the purchasing of foods. Meat outlets (market places, butchers and hypermarkets) were chosen as the dependent variables of the model. The independent variables were the sex, age and educational background of the consumers, household size, place of residence, the status of the mother, income, price difference, quality difference, hygiene, freshness and the seller's image. The multinomial logit model was used to measure the effect of the independent variables on the dependent variable.
Findings
According to the results of the research; such factors as age, household size, place of residence, status of the mother, income, price difference, quality difference, hygiene, freshness and the seller's image are deemed to be the variables affecting the consumers' meat outlet preferences.
Practical implications
Studies of this nature will be particularly beneficial for policy makers, producers and consumers in the sector and the researchers in the field. By extension, conducting such studies aimed at determining consumer habits from the perspective of Turkey, will ultimately help form consumer consciousness, protect consumer health and raise the sellers' income. Defining aptitude of consumers' demands, searching reasons for buying choices will be helpful for the food safety, hygiene and quality standards to become a matter of importance.
Originality/value
This paper underlines the social and economic factors leading to healthy meat outlet preferences and focuses the attention of producers, policy makers, sellers and consumers on the issue, which will lead to the creation of a healthier and more aware society.
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We can define architectural design studios as environments of simulation. Within this simulation limitations of real life architectural problems are constructed, yet the…
Abstract
We can define architectural design studios as environments of simulation. Within this simulation limitations of real life architectural problems are constructed, yet the constructed reality is far from the reality of existing practice.
In Architecture: Story of Practice, Dana Cuff, makes a sociological study of the architectural design practice and in the volume she discusses design studios as limited versions of the actual design practice. As compared to the actual practice in the studio the students are alone, there isn’t a multiplicity of actors involved in the process, and the design problems are clearly defined. Cuff points out to these shortcomings and provides guidelines to overcome them.
One of the shortcomings mentioned in Cuff’s study is that: design studios do not represent the variety of actors that are present in a real life situation. Cuff suggests to include representatives of different actors in the studio practice to overcome this. If the studio fails to support itself with a variety of actors, to compensate the short coming of actors, the instructors start taking the role of many possible participants of a design process. The instructors simulate: the user, the owner, the engineer, the contractor and so on so forth. This type of an approach in the design studios leads to a certain result: the ideological construct of the instructors becomes the foundation of the constructed reality of the studio.
This study explores the ideological construction of the design studio through active involvements with undergraduate students. Through the findings of two discussion sessions, students’ own ideological positions, their relationship with the external realities and limits imposed on such relations by the studio instructor’s own ideological stances are explored.
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Many papers have argued that there are long‐run downward‐sloping demand curves (LRDDC) for stocks. The purpose of this paper is to analyze this hypothesis using a new, unique, and…
Abstract
Purpose
Many papers have argued that there are long‐run downward‐sloping demand curves (LRDDC) for stocks. The purpose of this paper is to analyze this hypothesis using a new, unique, and ostensibly information‐free event: the re‐weighting of the Standard & Poor (S&P) 500 index from market based to free‐float based, which involves a significant shift in supply that, under the LRDDC, should result in significant and permanent price movements.
Design/methodology/approach
Event study methodology is used to examine abnormal returns and trading activity around the free‐float weight implementation dates for S&P 500 firms with various investable weight factors.
Findings
As a result of S&P 500 index re‐weighting, affected stocks experience statistically significant excess returns of −1.54 percent during the event week. This return is reversed during the following 30 days as trading volume returns to normal levels. These results are contrary to previous studies that analyze ostensibly informational events and/or different exchanges.
Research limitations/implications
Results of this study indicate that arbitrage appears to be effective in eliminating a long‐term mispricing, which challenges the validity of the LRDDC hypothesis.
Originality/value
This study contributes to the body of literature on the S&P 500 index firms by providing supporting evidence for the price‐pressure hypothesis.
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Supriya Maheshwari and Raj Singh Dhankar
The purpose of this paper is to provide insights into the profitability of momentum strategies in the Indian stock market. This study further evaluates whether the momentum effect…
Abstract
Purpose
The purpose of this paper is to provide insights into the profitability of momentum strategies in the Indian stock market. This study further evaluates whether the momentum effect is a manifestation of size, value or an illiquidity effect.
Design/methodology/approach
Monthly stock return data of 470 BSE listed stocks over the sample period from January 1997 to March 2013 were used to create extreme portfolios (winner and loser). The returns of extreme portfolios were evaluated using t-statistics and a risk-adjusted measure. Further checks were imposed by controlling for other potential sources of risk including size, value and illiquidity.
Findings
The study provides support in favor of momentum profitability in the Indian stock market. In contrast to the literature, momentum profitability is driven by winning stocks, and hence, buying past winning stocks generates higher returns than shorting loosing stocks in the Indian stock market. Strong momentum profits were observed even after controlling for size, value and trading volume of stocks. This suggests that the momentum effect in the Indian stock market is not a manifestation of small size effect, value effect or an illiquidity effect.
Practical implications
From the practitioner’s perspective, the study indicates that a momentum-based investment strategy in the short run is still persistent and can generate potential profits in the Indian stock market.
Originality/value
There is little empirical evidence on the momentum profitability, especially in the Indian stock market. The study contributes toward the literature by analyzing the momentum profitability even after controlling for size, value and an illiquidity effect. Some aspects of the momentum effect were observed to be dissimilar from those observed in literature for the USA and other countries. Such findings justify the need for testing the momentum profitability in stock markets other than the USA.
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Ilker Yilmaz and Haitham Nobanee
This article examines the relationship between the cash conversion cycle (CCC) and profitability in countries in the Middle East and North Africa (MENA) region.
Abstract
Purpose
This article examines the relationship between the cash conversion cycle (CCC) and profitability in countries in the Middle East and North Africa (MENA) region.
Design/methodology/approach
The authors used dynamic panel methodology to analyze a dataset consisting of 395 firms from nonfinancial sectors in the MENA countries from 2013 to 2018. The authors developed several models consisting of different measures of profitability, CCC and the components of CCC. The control variables were used in the models at different levels.
Findings
The results bring out a significantly positive relationship between the CCC and profitability. However, mixed results have been obtained for industry and country details. The quadratic model revealed an inverted U-shaped relationship and the presence of an optimal point of CCC. The robustness checks have confirmed the results of the main models.
Practical implications
The results of the study imply that corporate managers and policymakers ought to pay equal attention to the components of CCC when developing working capital policies and be aware of the optimal level of CCC.
Originality/value
This paper handles the endogeneity problem that is inherent in the relationship. It investigates and confirms the nonlinear characteristics of the relationship. To the best of the authors' knowledge, this study is the first to use dynamic panel models to examine the CCC and its relationship with profitability in the MENA context.
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Adetayo Olaniyi Adeniran, Mosunmola Joseph Muraina and Josiah Chukwuma Ngonadi
Energy consumption in transportation accounted for over 29% of total final consumption (TFC) of energy and 65% of global oil usage, and it is highly connected to mobility…
Abstract
Energy consumption in transportation accounted for over 29% of total final consumption (TFC) of energy and 65% of global oil usage, and it is highly connected to mobility. Mobility is essential for access to day-to-day activities such as education, leisure, healthcare, business activities, and commercial and industrial operations. This study examines the energy consumption for the transport industry, and the level of renewable energy development in some selected Sub-Saharan African (SSA) nations. This study relied on previous publications of government, reports and articles related to the subject matter. Vehicle ownership is fast increasing, particularly in cities. Still, it begins at a relatively low level because the area is home to countries with the lowest ownership rates worldwide. In its current state, the energy sector faces significant challenges such as inadequate and poorly maintained infrastructure, dealing with increasing traffic congestion in cities, large-scale imports of used vehicles with poor emission standards that affect air quality in cities, a lack of safe and formally operated public transportation systems, and inadequate consideration for women and disabled mobility needs. Motorcycle and tricycle are dominating the rural areas, accounting for a substantial amount of this growth. Aviation is the largest non-road user of energy, and this trend is predicted to continue through 2040 as Gross Domestic Product (GDP) grows and urbanisation expands. This study revealed the energy consumption for the transport industry, and the level of renewable energy development in some selected SSA. Rail and navigation lag behind current global levels. The usage of biofuel and rail transport was recommended.