Kelly S. Carney, Omar Hatamleh, James Smith, Thomas Matrka, Amos Gilat, Michael Hill and Chanh Truong
The purpose of this paper is to present an analytical framework for predicting the residual stresses that result from the laser shock peening of a friction stir‐welded 2195…
Abstract
Purpose
The purpose of this paper is to present an analytical framework for predicting the residual stresses that result from the laser shock peening of a friction stir‐welded 2195 aluminum alloy sample, using the finite element software LS‐DYNA.
Design/methodology/approach
The pressures resulting from the laser peening are directly applied in an explicit transient analysis as forces. At the completion of the transient analysis, an implicit springback analysis is performed to determine the final residual stresses. This cycle is repeated for the appropriate number of peen applications, including the appropriate overlap of application areas. To validate the analytical framework, a comparison of residual stresses between analysis and a test specimen is made using laser‐peened base material which was not friction stir‐welded. Friction stir welding (FSW) causes residual stresses and material property variations. In this work, the varying material properties regions are simplified and defined as discrete, separate materials. The residual stresses resulting from the welding are introduced directly as initial conditions in the peening transient analysis and so are combined within the analysis with the residual stresses from the peening.
Findings
Comparisons made between the experimental and analytical residual stresses are generally favorable.
Originality/value
Analysis of the laser shock peening of FSW has not been accomplished previously.
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Mikel Larreina and Leire Gartzia
In the last decades, many of the most talented and promising young graduates in the developed economies have joined the financial industry. Simultaneously, ill-designed…
Abstract
In the last decades, many of the most talented and promising young graduates in the developed economies have joined the financial industry. Simultaneously, ill-designed incentives’ schemes have favored the development of a culture in which excessive greed, free-riders’ behavior, unreasonable appetite for risk, and short-term decision making have endangered the economy and, potentially, have laid the foundations for financial, economic, social, and environmental crises.
In this chapter, we review current challenges in the financial industry from the lens of human and social capital. We examine some of the factors that allowed unethical behavior and a short-term financial focus in the financial sector, examining how compensation and an extremely competitive culture became key elements that favored greedy and manipulative behavior and ultimately generated socially harmful human and social capital in the financial sector. Finally, we discuss the emergence of a number of game-changers (namely, Brexit, FinTech, the growing relevance of ethical standards, and the increasing participation of women and millennials in the industry) that might represent potential promotors of change and help restructure and reshape the financial industry.
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How can large international financial firms go green in authentic ways? What enhances ‘Net Zero action’? Changes in global banks, fund managers, and insurance firms are at the…
Abstract
How can large international financial firms go green in authentic ways? What enhances ‘Net Zero action’? Changes in global banks, fund managers, and insurance firms are at the heart of green finance. External change pressures – combined with problematic firm predispositions – exacerbate barriers to change and promote scepticism about authentic Net Zero change. Field research reveals main elements, connections, and interactions of this question by considering financial firms as complex socio-technical systems (Mitleton-Kelly, 2003). An interdisciplinary/holistic narrative approach (De Bakker et al., 2019) is adopted to design a conceptual framework that can support a green ‘behavioural theory of the financial firm’ (green BTFF). The BTFF presents an international version (Peng, 2001) of the resource-based view (RBV) of the firm (Barney, 1991; Hart, 1995; Teece et al., 1997).
The approach of this chapter is aimed at closing knowledge gaps and realign values in financial markets and society. By raising awareness about organised hypocrisy and facades (Brunsson, 1993; Cho et al., 2015; Schoeneborn et al., 2020) in financial firms the chapter aims at overcoming the gap between ‘talking’ and ‘walking’ in the financial sector. The chapter defines testable firm-level hypotheses for ‘Green Finance’ (Poterba, 2021) as well as – by implication – tests for ‘greenwashing’.
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Stephen Choo, Tim Mazzarol and Geoff Soutar
Although international franchising has occurred in East Asia over the past 20 years, surprisingly very little academic research has been undertaken to understand key dynamics of…
Abstract
Purpose
Although international franchising has occurred in East Asia over the past 20 years, surprisingly very little academic research has been undertaken to understand key dynamics of this marketing phenomenon. The purpose of this paper is to examine franchise resources, which is a key construct in the internationalization of retail franchising.
Design/methodology/approach
A multiple case study approach has been adopted to generate rich data designed to aid understanding of the complexities inherent within such an international marketing relationship. The data were drawn from five US food service retail franchises, which are household brands across East Asia, operating in Singapore.
Findings
This study presents several interesting findings for the retail franchise industry. First, consistent with resource scarcity theory, international franchising relationship begins with a high degree of franchise dependency on the local franchisees. Next, international franchisors will be well served to select their overseas franchisees with strong financial resources to engage in rapid expansion, good contacts to secure early stores in prime retail locations and well‐proven local knowledge to modify the concept to suit particular market needs.
Practical implications
Findings from this study have important managerial implications for international retail franchisors on how to effectively select franchisees to successfully launch and manage their brands in East Asia.
Originality/value
This empirical study has made a major contribution in adding to the limited body of empirical knowledge on franchisee selection in international retail franchising, particularly in East Asia. It is hoped that this paper will encourage more academics to investigate why certain international retail franchise concepts perform relatively better in East Asia than others.
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The paper summarizes predictions about the use of franchising as an expansion strategy and examines them through an empirical investigation of a sample of restaurant franchisors…
Abstract
The paper summarizes predictions about the use of franchising as an expansion strategy and examines them through an empirical investigation of a sample of restaurant franchisors. The restaurant industry is an appropriate field for such an investigation as franchising is extensively used in this sector. The subject of growth is also important from the consumer’s perspective because of the increased desire for convenience and uniformity. The results suggest that franchising is an effective strategy for store expansion. However, larger chains have a lower need to use franchising as a growth strategy, apparently because they have their own resources. The paper also shows that the chain’s mix of company owned and franchised outlets is likely to be influenced by its past growth pattern. The results indicate that a significant increase in the proportion of franchised outlets is unlikely for chains that already have a relatively high percentage of franchised outlets. This is ostensibly because synergistic benefits are achieved through having both company owned and franchised stores.
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Rajiv P. Dant, Audhesh K. Paswan and John Stanworth
Franchising has long been seen as an avenue into small business. For some, it offers opportunities to build up franchise systems, as franchisors, by cloning small business success…
Abstract
Franchising has long been seen as an avenue into small business. For some, it offers opportunities to build up franchise systems, as franchisors, by cloning small business success in exchange for a royalty. For many others, as franchisees, it offers opportunities for self‐employment, combining elements of the independence normally associated with self‐employment allied with the security derived from association with a tried‐and‐tested business system. However, there is an ongoing debate, the ownership redirection thesis, which suggests that franchise systems will only characteristically seek to involve franchisees in their business growth strategies during the early phases of business development. Thereafter, when finance, human capital and local market intelligence resources are no longer at a premium, the thesis predicts, franchisors will reduce their dependence on franchising with franchisees the prime casualties. Assesses the available evidence on the ownership redirection thesis and offers some fresh data on the issue.
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Laura Senier, Matthew Kearney and Jason Orne
This mixed-methods study reports on an outreach clinics program designed to deliver genetic services to medically underserved communities in Wisconsin.
Abstract
Purpose
This mixed-methods study reports on an outreach clinics program designed to deliver genetic services to medically underserved communities in Wisconsin.
Methodology/approach
We show the geographic distribution, funding patterns, and utilization trends for outreach clinics over a 20-year period. Interviews with program planners and outreach clinic staff show how external and internal constraints limited the program’s capacity. We compare clinic operations to the conceptual models guiding program design.
Findings
Our findings show that state health officials had to scale back financial support for outreach clinic activities while healthcare providers faced increasing pressure from administrators to reduce investments in charity care. These external and internal constraints led to a decline in the overall number of patients served. We also find that redistribution of clinics to the Milwaukee area increased utilization among Hispanics but not among African-Americans. Our interviews suggest that these patterns may be a function of shortcomings embedded in the planning models.
Research/Policy Implications
Planning models have three shortcomings. First, they do not identify the mitigation of health disparities as a specific goal. Second, they fail to acknowledge that partners face escalating profit-seeking mandates that may limit their capacity to provide charity services. Finally, they underemphasize the importance of seeking trusted partners, especially in working with communities that have been historically marginalized.
Originality/Value
There has been little discussion about equitably leveraging genetic advances that improve healthcare quality and efficacy. The role of State Health Agencies in mitigating disparities in access to genetic services has been largely ignored in the sociological literature.