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Article
Publication date: 4 May 2020

Jyotsna Ghimire, Cesar L. Escalante, Ramesh Ghimire and Charles B. Dodson

This study adds a new dimension in the study of racial and gender bias in farm lending. Most previous studies analyzed the separate effects of race and gender attributes on loan…

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Abstract

Purpose

This study adds a new dimension in the study of racial and gender bias in farm lending. Most previous studies analyzed the separate effects of race and gender attributes on loan approval decisions. The analysis focuses on the stipulation of loan terms (loan amount, interest rate and maturity) among approved farm loan applications. The time period analyzed spans from 2004 until 2014 during which the government has undertaken reforms to improve delivery of loan services to its clientele of minority farmers. Thus, this study's findings could help validate the effectivity of such institutional reforms affecting Farm Service Agency (FSA) lending operations.

Design/methodology/approach

This study utilizes a national direct loan origination data from the FSA of the U.S. Department of Agriculture (USDA) collected from 2004 to 2014. The analysis begins by identifying significant differences in cross-tabulations of loan terms among different racial and gender classes. Seemingly unrelated regression (SUR) regression techniques are then applied for a system of equations involving the three loan packaging components. The combined effects of the prescribed loan packaging terms are subsequently analyzed under a simulation-optimization framework.

Findings

Regression results validate that indeed, relative to White American borrowers, certain minority borrowers are accommodated with lower loan amounts at higher interest rates and with shorter maturities. However, these decisions seem to be prompted by credit risk management considerations. The most compelling findings include the insignificance of all double minority labeling variables, except for the interest rate equation that even produced favorable results for Hispanic American females. Simulation-optimization results further reinforce that even when one or two unfavorable loan terms are included in the packaging, double minority borrowers end up with better profitability and liquidity positions.

Practical implications

This study provides a different perspective in dealing with the controversial minority bias in lending by presenting evidence gathered from a government farm lending institution. The USDA-FSA has been sued in numerous occasions by minority borrowers. Since then, however, it has deliberately implemented institutional reforms to rectify previous errors. This study provides empirical evidence strengthening FSA's claim of its intention to improve its delivery of loan services, especially for its socially disadvantaged borrowers with double minority classification.

Originality/value

This study pioneers the analysis of the double minority labeling effect on farm lending decisions. Its contributions to literature are further enhanced by its goal to validate the effectiveness of FSA institutional reforms undertaken since the early 2000s in order to improve credit access of and delivery of credit services to minority farm borrowers, especially those that belong to more than one minority classification.

Details

Agricultural Finance Review, vol. 80 no. 5
Type: Research Article
ISSN: 0002-1466

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Article
Publication date: 29 August 2023

Chigoziri N. Njoku, Temple Uzoma Maduoma, Wilfred Emori, Rita Emmanuel Odey, Beshel M. Unimke, Emmanuel Yakubu, Cyril C. Anorondu, Daniel I. Udunwa, Onyinyechi C. Njoku and Kechinyere B. Oyoh

Corrosion is a major concern for many industries that use metals as structural or functional materials, and the use of corrosion inhibitors is a widely accepted strategy to…

115

Abstract

Purpose

Corrosion is a major concern for many industries that use metals as structural or functional materials, and the use of corrosion inhibitors is a widely accepted strategy to protect metals from deterioration in corrosive environments. Moreover, the toxic nature, non-biodegradability and price of most conventional corrosion inhibitors have encouraged the application of greener and more sustainable options, with natural and synthetic drugs being major actors. Hence, this paper aims to stress the capability of natural and synthetic drugs as manageable and sustainable, environmentally friendly solutions to the problem of metal corrosion.

Design/methodology/approach

In this review, the recent developments in the use of natural and synthetic drugs as corrosion inhibitors are explored in detail to highlight the key advancements and drawbacks towards the advantageous utilization of drugs as corrosion inhibitors.

Findings

Corrosion is a critical issue in numerous modern applications, and conventional strategies of corrosion inhibition include the use of toxic and environmentally harmful chemicals. As greener alternatives, natural compounds like plant extracts, essential oils and biopolymers, as well as synthetic drugs, are highlighted in this review. In addition, the advantages and disadvantages of these compounds, as well as their effectiveness in preventing corrosion, are discussed in the review.

Originality/value

This survey stresses on the most recent abilities of natural and synthetic drugs as viable and sustainable, environmentally friendly solutions to the problem of metal corrosion, thus expanding the general knowledge of green corrosion inhibitors.

Details

Pigment & Resin Technology, vol. 53 no. 6
Type: Research Article
ISSN: 0369-9420

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Article
Publication date: 15 December 2020

Samira Idrissi, Soumia Ziti, Hicham Labrim and Lahoucine Bahmad

In this paper, using Monte Carlo simulations (MCSs) under the metropolis algorithm, the authors study the magnetic properties of the yttrium-based Heusler alloys: Y2CrGa and…

129

Abstract

Purpose

In this paper, using Monte Carlo simulations (MCSs) under the metropolis algorithm, the authors study the magnetic properties of the yttrium-based Heusler alloys: Y2CrGa and YFeCrGa. In the first step, the authors elaborate and discuss the ground-state phase diagrams of the more stable configurations. It is worth to note that the full-Heusler alloy Y2CrGa contains only one magnetic atom (Cr), while the quaternary Heusler alloy YFeCrGa has two magnetic atoms (Cr and Fe). This leads to modeling of the compound Y2CrGa by a Hamiltonian containing only one magnetic spin moment (S = 2), while the quaternary Heusler alloy YFeCrGa is modeled by a Hamiltonian containing two magnetic spin moments (Q = 5/2 and s = 2). The results of the study reveal that the critical temperature increases when increasing the reduced crystal field for the two studied compounds. To complete this study, the authors elaborated the hysteresis cycles of the two yttrium-based Heusler alloys: Y2CrGa and YFeCrGa.

Design/methodology/approach

In this paper, the authors study the magnetic properties and the critical behavior of the yttrium-based Heusler alloys, Y2CrGa and YFeCrGa, using MCSs under the metropolis algorithm. In the first step, the authors elaborate and discuss the ground-state phase diagrams of the more stable configurations for the both structures at null temperature (T = 0). On the other hand, for non-null temperature (T ≠ 0), the authors investigate the critical behavior of these two yttrium-based Heusler alloys: Y2CrGa and YFeCrGa. It is worth to note that the full-Heusler alloy Y2CrGa contains only one magnetic atom (Cr), while the quaternary Heusler alloy YFeCrGa has two magnetic atoms (Cr and Fe). Hence, the compound Y2CrGa can be modeled by a Hamiltonian containing only one magnetic spin moment (S = 2), while the quaternary Heusler alloy YFeCrGa is modeled by a Hamiltonian containing two magnetic spin moments (Q = 5/2 and s = 2). Moreover, the results of the study reveal that the critical temperature increases when increasing the reduced crystal field for the two studied compounds. To complete this study, the authors elaborated the hysteresis cycles of the two yttrium-based Heusler alloys: Y2CrGa and YFeCrGa.

Findings

The authors elaborate the ground-state phase diagrams of the more stable configurations. It is worth to note that the full-Heusler alloy Y2CrGa contains only one magnetic atom (Cr), while the quaternary Heusler alloy YFeCrGa has two magnetic atoms (Cr and Fe). This leads to modeling of the compound Y2CrGa by a Hamiltonian containing only one magnetic spin moment (S = 2), while the quaternary Heusler alloy YFeCrGa is modeled by a Hamiltonian containing two magnetic spin moments (Q = 5/2 and s = 2). The results of the study reveal that the critical temperature increases when increasing the reduced crystal field for the two studied compounds. To complete this study, the authors elaborated the hysteresis cycles of the two yttrium-based Heusler alloys: Y2CrGa and YFeCrGa.

Research limitations/implications

The authors elaborate the ground-state phase diagrams of the more stable configurations. It is worth to note that the full-Heusler alloy Y2CrGa contains only one magnetic atom (Cr), while the quaternary Heusler alloy YFeCrGa has two magnetic atoms (Cr and Fe). This leads to modeling of the compound Y2CrGa by a Hamiltonian containing only one magnetic spin moment (S = 2), while the quaternary Heusler alloy YFeCrGa is modeled by a Hamiltonian containing two magnetic spin moments (Q = 5/2 and s = 2). The results of the study reveal that the critical temperature increases when increasing the reduced crystal field for the two studied compounds. To complete this study, the authors elaborated the hysteresis cycles of the two yttrium-based Heusler alloys: Y2CrGa and YFeCrGa.

Practical implications

The authors elaborate the ground-state phase diagrams of the more stable configurations. It is worth to note that the full-Heusler alloy Y2CrGa contains only one magnetic atom (Cr), while the quaternary Heusler alloy YFeCrGa has two magnetic atoms (Cr and Fe). This leads to modeling of the compound Y2CrGa by a Hamiltonian containing only one magnetic spin moment (S = 2), while the quaternary Heusler alloy YFeCrGa is modeled by a Hamiltonian containing two magnetic spin moments (Q = 5/2 and s = 2). The results of the study reveal that the critical temperature increases when increasing the reduced crystal field for the two studied compounds. To complete this study, the authors elaborated the hysteresis cycles of the two yttrium-based Heusler alloys: Y2CrGa and YFeCrGa.

Social implications

The authors elaborate the ground-state phase diagrams of the more stable configurations. It is worth to note that the full-Heusler alloy Y2CrGa contains only one magnetic atom (Cr), while the quaternary Heusler alloy YFeCrGa has two magnetic atoms (Cr and Fe). This leads to modeling of the compound Y2CrGa by a Hamiltonian containing only one magnetic spin moment (S = 2), while the quaternary Heusler alloy YFeCrGa is modeled by a Hamiltonian containing two magnetic spin moments (Q = 5/2 and s = 2). The results of the study reveal that the critical temperature increases when increasing the reduced crystal field for the two studied compounds. To complete this study, the authors elaborated the hysteresis cycles of the two yttrium-based Heusler alloys: Y2CrGa and YFeCrGa.

Originality/value

The authors elaborate the ground-state phase diagrams of the more stable configurations. It is worth to note that the full-Heusler alloy Y2CrGa contains only one magnetic atom (Cr), while the quaternary Heusler alloy YFeCrGa has two magnetic atoms (Cr and Fe). This leads to modeling of the compound Y2CrGa by a Hamiltonian containing only one magnetic spin moment (S = 2), while the quaternary Heusler alloy YFeCrGa is modeled by a Hamiltonian containing two magnetic spin moments (Q = 5/2 and s = 2). The results of the study reveal that the critical temperature increases when increasing the reduced crystal field for the two studied compounds. To complete this study, the authors elaborated the hysteresis cycles of the two yttrium-based Heusler alloys: Y2CrGa and YFeCrGa.

Details

Multidiscipline Modeling in Materials and Structures, vol. 17 no. 3
Type: Research Article
ISSN: 1573-6105

Keywords

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