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…
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
Keywords
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…
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.
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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…
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.