Lionel Martellini and Branko Urošević
Executive compensation packages are often valued in an inconsistent manner: while employee stock options (ESOs) are typically valued ex‐ante, i.e., before uncertain ties are…
Abstract
Executive compensation packages are often valued in an inconsistent manner: while employee stock options (ESOs) are typically valued ex‐ante, i.e., before uncertain ties are resolved, cash bonuses are valued ex‐post, i.e., by discounting the realized cash grants. Such a lack of consistency can, potentially, distort empirical results. A related, yet mostly overlooked, problem is that when ex‐post valuation is used pay‐performance measures cannot be well defined. Consistent use of ex‐ante valuation for all components of a compensation package would simultaneously resolve both of these problems and provide a natural framework for the analysis of agency problems. In this paper, we perform ex‐ante valuation of cash bonus contracts as if the executive’s performance were measured by the company stock price, demonstrate how the shape of the bonus contract influences the executive’s attitude toward risk, and study the pay‐performance sensitiv ty of such contracts. We commence by demonstrating that a typical executive bonus contract with a linear incentive zone has a pay off structure equivalent to a portfolio of standard and binary European call options so that the ex‐ante contract value is given by the linear combination of Black and Scholes call and binary call prices, with the strike prices at the boundary points of the incentive zone. Assuming that a risk neutral executive can choose the level of stock price volatility by selecting a set of projects at origination, we show that bonus contract terms can dramatically affect the executive’s risk taking behavior and pay performance incentives. Our results are extended to bonus contracts with non‐linear incentive zones, and performance share contracts with vesting risk.
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Vishwanath B. Awati, Oluwole Daniel Makinde and Manjunath Jyoti
The purpose of this paper is to study the laminar boundary layer flow between a stationary nonporous disk and a porous rotating disk, both being immersed in large amount of fluid.
Abstract
Purpose
The purpose of this paper is to study the laminar boundary layer flow between a stationary nonporous disk and a porous rotating disk, both being immersed in large amount of fluid.
Design/methodology/approach
The governing nonlinear momentum equations in cylindrical polar coordinates together with relevant boundary conditions are reduced to a system of coupled nonlinear ordinary differential equations (NODEs) using similarity transformations. The resulting coupled NODEs are solved using computer-extended series solution and homotopy analysis method.
Findings
The analytical solutions are explicitly expressed in terms of recurrence relation for determining the universal coefficients. The nature and location of singularity which restricts the convergence of series is analyzed by using Domb–Sykes plot. Reversion of series is used for the improvement of series. The region of validity of series is extended for much larger values of Reynolds number (R), i.e. R = 6 to 15.
Originality/value
The resulting solutions are compared with earlier works in the literature and are found to be in good agreement.
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Body weight has a long history of functioning as a symbol of one’s beauty, social status, morality, discipline, and health. It has also been a standard inflicted much more…
Abstract
Body weight has a long history of functioning as a symbol of one’s beauty, social status, morality, discipline, and health. It has also been a standard inflicted much more intensely on women than men. While US culture has long idealized thinness for women, even at risky extremes, there is growing evidence that weight standards are broadening. Larger bodies are becoming more visible and accepted, while desire for and approval of a thin ideal has diminished. However, the continued widespread prevalence of anti-fat attitudes and stigma leaves uncertainty about just how much weight standards are changing. This study used an online survey (n = 320) to directly compare evaluations of thin, fat, and average size women through measures of negative stereotypes, prejudicial attitudes, and perceptions about quality of life. Results indicated that, as hypothesized, thin women were perceived less favorably than average weight women. However, fat women were perceived less favorably than both average and thin women. Men were harsher than women in their evaluations of only fat women. Additionally, participants being underweight or overweight did not produce an ingroup bias in their evaluations of underweight and overweight targets, respectively. That is, participants did not rate their own group more favorably, with the exception of overweight participants having lower prejudice toward overweight targets. These findings add to the emerging evidence that women’s weight standards are in transition, marked by an increasingly negative perception of thin women, though not necessarily growing positivity toward fat women. This evidence further points toward the need for more extensive research on attitudes of people across the entire weight spectrum.
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Yih‐Guang Leu and Yi‐Xuan Hong
The purpose of this paper is to propose an adaptive output feedback controller using wavelet neural networks with nonlinear parameterization for unknown nonlinear systems with…
Abstract
Purpose
The purpose of this paper is to propose an adaptive output feedback controller using wavelet neural networks with nonlinear parameterization for unknown nonlinear systems with only system output measurement.
Design/methodology/approach
An error observer is used to estimate the tracking errors through output measurement information, and the wavelet neural networks are utilized to online approximate an unknown control input by adjusting their internal parameters.
Findings
The controller integrates an error observer and wavelet neural networks with nonlinear parameterization into adaptive control design and is derived in accordance with implicit function and mean value theorem. The adjustment mechanism for the parameters of the wavelet neural networks can be derived by means of mean value theorem and Lyapunov theorem, and the stability of the closed‐loop system can be guaranteed.
Originality/value
This paper utilizes the nonlinear parametric wavelet neural networks with estimate state inputs to obtain the adaptive control input for nonaffine systems with only system output measurement, and the nonlinear wavelet parameters can be adjusted efficiently.
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Anna Marie Johnson, Amber Willenborg, Christopher Heckman, Joshua Whitacre, Latisha Reynolds, Elizabeth Alison Sterner, Lindsay Harmon, Syann Lunsford and Sarah Drerup
This paper aims to present recently published resources on information literacy and library instruction through an extensive annotated bibliography of publications covering all…
Abstract
Purpose
This paper aims to present recently published resources on information literacy and library instruction through an extensive annotated bibliography of publications covering all library types.
Design/methodology/approach
This paper annotates English-language periodical articles, monographs, dissertations and other materials on library instruction and information literacy published in 2017 in over 200 journals, magazines, books and other sources.
Findings
The paper provides a brief description for all 590 sources.
Originality/value
The information may be used by librarians and interested parties as a quick reference to literature on library instruction and information literacy.
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Maosheng Yang, Lei Feng, Honghong Zhou, Shih-Chih Chen, Ming K. Lim and Ming-Lang Tseng
This study aims to empirically analyse the influence mechanism of perceived interactivity in real estate APP which affects consumers' psychological well-being. With the growing…
Abstract
Purpose
This study aims to empirically analyse the influence mechanism of perceived interactivity in real estate APP which affects consumers' psychological well-being. With the growing application of human–machine interaction in real estate APP, it is crucial to utilize human–machine interaction to stimulate perceived interactivity between humans and machines to positively impact consumers' psychological well-being and sustainable development of real estate APP. However, it is unclear whether perceived interactivity improves consumers' psychological well-being.
Design/methodology/approach
This study proposes and examines a theoretical model grounded in the perceived interactivity theory, considers the relationship between perceived interactivity and consumers' psychological well-being and explores the mediating effect of perceived value and the moderating role of privacy concerns. It takes real estate APP as the research object, analyses the data of 568 consumer samples collected through questionnaires and then employs structural equation modelling to explore and examine the proposed theoretical model of this study.
Findings
The findings are that perceived interactivity (i.e. human–human interaction and human–information interaction) positively influences perceived value, which in turn affects psychological well-being, and that perceived value partially mediates the effect of perceived interaction on psychological well-being. More important findings are that privacy concerns not only negatively moderate human–information interaction on perceived value, but also negatively moderate the indirect effects of human–information interaction on users' psychological well-being through perceived value.
Originality/value
This study expands the context on perceived interaction and psychological well-being in the field of real estate APP, validating the mediating role and boundary conditions of perceived interactivity created by human–machine interaction on consumers' psychological well-being, and suggesting positive implications for practitioners exploring human–machine interaction technologies to improve the perceived interaction between humans and machines and thus enhance consumer psychological well-being and span sustainable development of real estate APP.
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Abstract
Purpose
The purpose of this paper is to study the influence of silver on the high‐temperature oxidation behaviour of the Sn‐8.5Zn‐xAg‐0.01Al‐0.1Ga (x=0, 0.1, 0.3 and 0.5) solder alloys.
Design/methodology/approach
The weight gains of the studied solders are measured using thermal gravimetric analyzers (TGA) at temperatures of 250, 300, 350 and 400°C. The weight gains measured are used to compare the oxidation behaviour of the studied solders. The surfaces of the solders are also analyzed with Auger emission spectroscopy (AES) depth profiling and thin‐film X‐ray diffractometry (thin‐film XRD) to identify the elements present on the surface of the studied solders.
Findings
The TGA results show that the weight gains decrease with increasing silver content in the studied solders. It meant that increasing silver content could help improve the high‐temperature oxidation behaviour of the studied solder. AES and thin‐film XRD confirm that the formed oxide layers on the surface of the studied solder are Zn‐based oxide layers.
Originality/value
The findings of this paper will help provide an understanding of the effects of silver on Sn‐8.5Zn‐xAg‐0.01Al‐0.1Ga solder.
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Sadia Samar Ali, Shahbaz Khan, Nosheen Fatma, Cenap Ozel and Aftab Hussain
Organisations and industries are often looking for technologies that can accomplish multiple tasks, providing economic benefits and an edge over their competitors. In this…
Abstract
Purpose
Organisations and industries are often looking for technologies that can accomplish multiple tasks, providing economic benefits and an edge over their competitors. In this context, drones have the potential to change many industries by making operations more efficient, safer and more economic. Therefore, this study investigates the use of drones as the next step in smart/digital warehouse management to determine their socio-economic benefits.
Design/methodology/approach
The study identifies various enablers impacting drone applications to improve inventory management, intra-logistics, inspections and surveillance in smart warehouses through a literature review, a test of concordance and the fuzzy Delphi method. Further, the graph theory matrix approach (GTMA) method was applied to ranking the enablers of drone application in smart/digital warehouses. In the subsequent phase, researchers investigated the relation between the drone application's performance and the enablers of drone adoption using logistic regression analysis under the TOE framework.
Findings
This study identifies inventory man agement, intra-logistics, inspections and surveillance are three major applications of drones in the smart warehousing. Further, nine enablers are identified for the adoption of drone in warehouse management. The findings suggest that operational effectiveness, compatibility of drone integration and quality/value offered are the most impactful enablers of drone adoption in warehouses. The logistic regression findings are useful for warehouse managers who are planning to adopt drones in a warehouse for efficient operations.
Research limitations/implications
This study identifies the enablers of drone adoption in the smart and digital warehouse through the literature review and fuzzy Delphi. Therefore, some enablers may be overlooked during the identification process. In addition to this, the analysis is based on the opinion of the expert which might be influenced by their field of expertise.
Practical implications
By considering technology-organisation-environment (TOE) framework warehousing companies identify the opportunities and challenges associated with using drones in a smart warehouse and develop strategies to integrate drones into their operations effectively.
Originality/value
This study proposes a TOE-based framework for the adoption of drones in warehouse management to improve the three prominent warehouse functions inventory management, intra-logistics, inspections and surveillance using the mixed-method.
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Jagjiwan Mittal and Kwang-Lung Lin
This paper aims to study the diffusion of Zn, Ni and Sn in the liquid state during the reflow ageing of the Sn-Zn solder above its melting point on an Ni/Cu substrate in relation…
Abstract
Purpose
This paper aims to study the diffusion of Zn, Ni and Sn in the liquid state during the reflow ageing of the Sn-Zn solder above its melting point on an Ni/Cu substrate in relation to the formation of intermetallic compounds (IMCs).
Design/methodology/approach
The Sn-Zn solder is reflowed on Ni/Cu substrates and is aged at 503 K. The formation of IMCs and their composition is characterized using scanning electron microscopy (SEM) and energy-dispersive X-ray spectroscopy (EDX). Diffusion coefficients and diffusion distances of Zn, Ni and Sn in the liquid state during reflow and ageing are theoretically calculated. Both experimental and theoretical behaviours for Ni and Zn diffusions are compared.
Findings
Calculations show a linear increment in the liquid-state diffusion coefficients of Ni, Zn and Sn in the solder matrix with a rise in temperature, but they remained constant during ageing. However, diffusion distances increased slowly with temperature but manifold with ageing time. The experimental results revealed segregation of Zn and Ni at the interface in the as-reflow aged specimens. The Zn was concentrated at the solder–substrate interface and it reacted with Ni diffusing from the substrate to form Ni-Sn-Zn IMCs. The rapid diffusion of Zn and Ni with the increase in ageing time increased their atomic concentrations in the IMCs against the reduction in Sn concentration owing to a comparatively slower diffusion.
Originality/value
The novelty of the paper is the detailed study of theoretical diffusion of Zn, Sn and Ni in the liquid state during reflow ageing of Sn-Zn above its melting points on a Ni/Cu substrate. This is compared with values obtained experimentally and related to the mechanisms of IMC formation.