R.K. Banerjee and S.C. Sengupta
Rebulac has been found to be highly suitable for the production of water‐thinnable primers and gloss paints formulations. The baked films on ferrous and non‐ferrous metals are…
Abstract
Rebulac has been found to be highly suitable for the production of water‐thinnable primers and gloss paints formulations. The baked films on ferrous and non‐ferrous metals are highly adherent, hard and water‐resistant, in contrast to aqueous lac varnishes. The possibilities of the development of aqueous zinc chrome primers based on Rebulac has also been indicated.
P.C. Sarkar and A.K. Shrivastava
Applies Fourier transform infrared spectroscopy (FTIR) to the study of lac resin, a complex natural resin of insect origin, and some of its derivatives. Compares the result…
Abstract
Applies Fourier transform infrared spectroscopy (FTIR) to the study of lac resin, a complex natural resin of insect origin, and some of its derivatives. Compares the result obtained by this method with those from earlier studies that used classical methods of chemical analysis (the so‐called wet methods). Finds that FTIR has several advantages over the classical methods but, as spectroscopic assignments are still only tentative because of the complex nature of the lac resin, the FTIR data requires supplementing by other instrumental techniques such as FT‐Raman spectroscopy and solid state nuclear magnetic resonance.
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Elizabeth C. Annan-Prah and Raphael P.K. Andoh
Customised capacity building is thought to be essential for organisations. However, empirical studies are lacking with respect to its effect on employee outcomes. This study aims…
Abstract
Purpose
Customised capacity building is thought to be essential for organisations. However, empirical studies are lacking with respect to its effect on employee outcomes. This study aims to examine the effect of customised capacity building on employee outcomes including employee empowerment and employee engagement through employee learning in Ghanaian local government institutions.
Design/methodology/approach
Valid responses from 281 employees of Metropolitan, Municipal, and District Assemblies (MMDAs) in Ghana were collected through a survey. A structural equation model was used to analyse the data and test the hypotheses formulated.
Findings
The results showed that customised capacity building has an effect on employee learning, employee empowerment, and employee engagement. Employee learning also had an effect on employee empowerment and employee engagement. In addition, employee learning partially mediated the effect of customised capacity building on both employee empowerment and employee engagement.
Originality/value
This study is of particular relevance to public organisations. As there is a dearth of studies focusing on customised capacity building, this study provides insight into incorporating the phenomenon into public sector organisations to enhance employee learning, empowerment and engagement.
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Nicola Raimo, Alessandra Caragnano, Massimo Mariani and Filippo Vitolla
In recent years, policymakers have increasingly pushed firms to disclose non-financial information. In Europe, integrated reporting (IR) is an increasingly adopted tool to fully…
Abstract
Purpose
In recent years, policymakers have increasingly pushed firms to disclose non-financial information. In Europe, integrated reporting (IR) is an increasingly adopted tool to fully comply with the requirements of the Directive 2014/95/EU. This study aims to examine the financial benefits of IR quality and specifically the effect on the cost of debt.
Design/methodology/approach
A manual content analysis is performed to measure the quality of the information contained in integrated reports. A panel regression model is used to test the effect of the IR quality on the cost of debt on a sample of 399 observations (a balanced panel of 133 European listed firms for the period 2017–2019).
Findings
Results demonstrate a negative relationship between IR quality and the cost of debt, showing that firms that provide higher quality integrated reports benefit from access to third party financial resources at better conditions.
Research limitations/implications
The results of this study offer important implications for managers and policymakers. The capacity of IR quality to allow a cost of debt reduction should push managers to a greater propensity towards transparency and the dissemination of high quality integrated reports. In addition, in light of the benefits connected to the IR quality, policymakers should push towards the adoption of IR as a solution to fulfil the regulatory obligations deriving from Directive 2014/95/EU.
Practical implications
Results show the goodness of IR as an ideal solution to fulfil the obligations imposed by Directive 2014/95/EU. The important financial benefits associated with IR quality make the high quality integrated report an ideal tool capable of fulfilling regulatory obligations and at the same time guaranteeing a reduction in the cost of debt.
Originality/value
To the best of the authors’ knowledge, this is the first work that analyses the relationship between IR quality and cost of debt.
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The exploration of small businesses has risen in prominence over the last years in the UK context, particularly given the impact they carry in terms of their contribution to…
Abstract
Chapter Contribution
The exploration of small businesses has risen in prominence over the last years in the UK context, particularly given the impact they carry in terms of their contribution to national productivity and overall economic and financial performance. The exit of the UK from the European Union has created new conditions and issues that organisations are called to face. This chapter attempts to draw on pertinent literature to sketch out and map the challenge that Brexit poses for small business owners and managers. This chapter will elicit information primarily through an extensive scan and analysis of the available literature to crystallise the main arguments and frameworks that can help understand and interpret the more nuanced aspects. Ensuing, building on the findings from the literature, there will be an attempt to present a range of potential recommendations to assist small business with their planning to address the issues that might emerge both during the transition phase, but equally in the medium- and long-term future. The topic is of interest to both academics and practitioners as it explores the interplay between two very important and contemporary themes, the specific characteristics of small business and the unfolding exit from the EU, exploring how management and organisations can adapt to tackle this new landscape.
Rami Salem, Ernest Ezeani, Ali Meftah Gerged and Bilal Bilal
This study aims to examine how banks’ credit ratings can be driven by the quality of the disclosed financial and nonfinancial information in emerging economies.
Abstract
Purpose
This study aims to examine how banks’ credit ratings can be driven by the quality of the disclosed financial and nonfinancial information in emerging economies.
Design/methodology/approach
Using a sample of 1,590 bank-year observations of 29 Islamic and 77 conventional banks across 17 MENA countries from 2006 to 2020, we conducted a random-effects regression model that is supported by various methods, including 2SLS and GMM models, to overcome the potential incidence of endogeneity concerns.
Findings
We found that the quality of voluntary disclosure positively influences the credit rating of Islamic and conventional banks. Although the spread and usefulness of disclosed information are positively associated with banks’ ratings, the quantity dimension is not. Audit quality also significantly influences Islamic banks’ credit ratings compared to their traditional counterparts.
Practical implications
Our evidence offers practical implications for regulators and standards setters in emerging economies to develop more effective disclosure regimes to enhance the impact of the quality of banks’ voluntary disclosures on their credit ratings.
Originality/value
Our paper contributes to the existing literature by investigating the effect of the quality of voluntary disclosures on credit ratings along three dimensions: quantity, spread and usefulness of the information. Further, our research contributes to the international accounting literature by investigating the effect of audit quality on the credit ratings of both conventional and Islamic banks in a cross-country setting.
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The purpose of this paper is to fill this void in the existing literature and investigate how firms’ disclosure policies influence bank loan contracting in emerging markets after…
Abstract
Purpose
The purpose of this paper is to fill this void in the existing literature and investigate how firms’ disclosure policies influence bank loan contracting in emerging markets after controlling for the influence of borrowers’ private information obtained by banks. Furthermore, the paper examines how firms’ disclosure and non-disclosure governance interact to affect financial contracts.
Design/methodology/approach
The key variables Disclosure and Firm Governance are based on a survey by Credit Lyonnais Securities Asia (CLSA) in 2000. The paper hand-merges CLSA disclosure and governance data with the Dealscan database and Worldscope database by firm names. The paper conducts a multivariate analysis to investigate how firms’ disclosure policies influence bank loan contracting and how firms’ disclosure and non-disclosure governance interact to affect financial contracts.
Findings
The authors found that firms with superior disclosure policies obtain bank loans with more favorable loan contracting terms, such as larger amounts, longer maturity, and lower spread. In addition, the effects of disclosure on bank loan contracting are more pronounced for borrowers with superior firm-level non-disclosure governance or firms located in a country with better country-level governance.
Originality/value
The paper provides a more comprehensive view of the effects of corporate disclosure has on financial contracts in emerging economies.
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Parvez Alam, Suprava Jena, Irfan Anjum Badruddin, Tatagar Mohammad Yunus Khan and Sarfaraz Kamangar
This paper aims to study the attenuation and dispersion phenomena of shear waves in anelastic and elastic porous strips. Numerical investigations are performed for the phase and…
Abstract
Purpose
This paper aims to study the attenuation and dispersion phenomena of shear waves in anelastic and elastic porous strips. Numerical investigations are performed for the phase and damped velocity profiles of the wave. For numerical computation purposes, water-saturated limestone and kerosene oil saturated sandstone for the first and second porous strips, respectively. Some other peculiarities have been observed and discussed.
Design/methodology/approach
Dispersion and attenuation characteristic of the shear wave propagations have been studied in an inhomogeneous poro-anelastic strip of finite thickness, which is clamped between an inhomogeneous poroelastic strip of finite thickness and an elastic half-space. Both the strips are initially stressed and the half-space is self-weighted. Analytical methods are used to calculate the interior deformations of the model with the involvement of special functions. The determination of the frequency equation, which includes the Bessel’s and Whittaker functions, has been obtained using the prescribed boundary conditions.
Findings
Impacts of attenuation coefficient, dissipation factor, inhomogeneities, initial stresses, Biot’s gravity, porosity and thickness ratio parameters on the velocity profile of the wave have been demonstrated through the graphical visuals. These parameters are playing an important role and working as a catalyst in affecting the propagation behaviour of the wave.
Originality/value
Inclusion of the concept of doubly layered initially stressed inhomogeneous porous structure of elastic and anelastic medium bedded over a self-weighted half-space medium brings a novelty to the existing literature related to the study of shear wave. It may be helpful to geologists, seismologists and structural engineers in the development of theoretical and practical studies.
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D. Bhatia, P.C. Sarkar and M. Alam
To determine molecular level changes occurring in lac resin, due to the effect of thermal stress at different levels of temperature and baking times.
Abstract
Purpose
To determine molecular level changes occurring in lac resin, due to the effect of thermal stress at different levels of temperature and baking times.
Design/methodology/approach
Films of lac resin were applied on tin panels and baked at 100 and 200°C for different time intervals. The baked films were examined by specular reflectance spectroscopy, as they were otherwise difficult to examine through conventional IR techniques, using KBr pellet method. The results obtained were compared and correlated with work reported by earlier authors using wet chemical methods.
Findings
No significant spectroscopic change was observed on heating lac resin films at 100°C for different time intervals, as compared to air‐dried (parent) lac films. However, it was observed that when the films were baked at 200°C, the spectroscopic data indicated anhydride formation in the oligomers, due to heating effects.
Research limitations/implications
Chemical researches on lac resin have been typically limited by lack of modern tools, due to the difficult and unique nature of the material. The present method to determine molecular level changes in lac due to heating effects, using state‐of‐art instrumentation and computational technique opens a new vista in this field of research.
Practical implications
Lac resin still has a significant place in the surface coating industry, typically in food applications, insulating vanishes, etc. The results obtained indicate that lac‐based baking compositions, when baked at 200°C, exhibit improved characteristics, in terms of adhesion, scratch hardness and even acid resistance. Such an improvement can be attributed unequivocally to the formation of anhydride linkage as evident from spectroscopic data.
Originality/value
As of now, there is no report of specular reflectance data on lac resin and its derivatives. This paper represents the first attempt to obtain and correlate reflectance data on lac. It also highlights the convenience of the method and the scope of sophisticated data analysis, using computational methods.
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This survey explores the application of real options theory to the field of health economics. The integration of options theory offers a valuable framework to address these…
Abstract
Purpose
This survey explores the application of real options theory to the field of health economics. The integration of options theory offers a valuable framework to address these challenges, providing insights into healthcare investments, policy analysis and patient care pathways.
Design/methodology/approach
This research employs the real options theory, a financial concept, to delve into health economics challenges. Through a systematic approach, three distinct models rooted in this theory are crafted and analyzed. Firstly, the study examines the value of investing in emerging health technology, factoring in future advantages, associated costs and unpredictability. The second model is patient-centric, evaluating the choice between immediate treatment switch and waiting for more clarity, while also weighing the associated risks. Lastly, the research assesses pandemic-related government policies, emphasizing the importance of delaying decisions in the face of uncertainties, thereby promoting data-driven policymaking.
Findings
Three different real options models are presented in this study to illustrate their applicability and value in aiding decision-makers. (1) The first evaluates investments in new technology, analyzing future benefits, discount rates and benefit volatility to determine investment value. (2) In the second model, a patient has the option of switching treatments now or waiting for more information before optimally switching treatments. However, waiting has its risks, such as disease progression. By modeling the potential benefits and risks of both options, and factoring in the time value, this model aids doctors and patients in making informed decisions based on a quantified assessment of potential outcomes. (3) The third model concerns pandemic policy: governments can end or prolong lockdowns. While awaiting more data on the virus might lead to economic and societal strain, the model emphasizes the economic value of deferring decisions under uncertainty.
Practical implications
This research provides a quantified perspective on various decisions in healthcare, from investments in new technology to treatment choices for patients to government decisions regarding pandemics. By applying real options theory, stakeholders can make more evidence-driven decisions.
Social implications
Decisions about patient care pathways and pandemic policies have direct societal implications. For instance, choices regarding the prolongation or ending of lockdowns can lead to economic and societal strain.
Originality/value
The originality of this study lies in its application of real options theory, a concept from finance, to the realm of health economics, offering novel insights and analytical tools for decision-makers in the healthcare sector.