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Article
Publication date: 1 February 1971

T.R. Bullet

Introduction The post‐war period has seen great changes in the protective treatments applied to structural steel. Whilst corrosion scientists had urged for many years that removal…

44

Abstract

Introduction The post‐war period has seen great changes in the protective treatments applied to structural steel. Whilst corrosion scientists had urged for many years that removal of all rust, scale and surface contaminants before painting was essential to obtain full value from paint treatments, it was generally agreed until recently that to do so was impractical or ruinously expensive. Because the performance of the best available paints was not always adequate on poorly prepared steel, metallization treatments, designed to isolate steel by a complete cover of non‐ferrous metal, were sought, Galvanizing on pickled steel has been practised for many years on light gauge metal. For heavier sections metal‐spraying was developed, but to make this a viable process, mediods for cleaning the steel surface were essential. The grit‐blasting technique perfected for preparation for metal spraying began to be adopted as preparation for painting. However, progress was limited by gross variations in efficiency, and thus in costs, doubts about the type of surface desirable for paint and lack of definition of the bonus in performance to be expected from good preparation.

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Anti-Corrosion Methods and Materials, vol. 18 no. 2
Type: Research Article
ISSN: 0003-5599

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Publication date: 24 October 2019

Don N. MacDonald and Hirofumi Nishi

This chapter develops a no-arbitrage, futures equilibrium cost-of-carry model to demonstrate that the existence of cointegration between spot and futures prices in the New York…

Abstract

This chapter develops a no-arbitrage, futures equilibrium cost-of-carry model to demonstrate that the existence of cointegration between spot and futures prices in the New York Mercantile Exchange (NYMEX) crude oil market depends crucially on the time-series properties of the underlying model. In marked contrast to previous studies, the futures equilibrium model utilizes information contained in both the quality delivery option and convenience yield as a timing delivery option in the NYMEX contract. Econometric tests of the speculative efficiency hypothesis (also termed the “unbiasedness hypothesis”) are developed and common tests of this hypothesis examined. The empirical results overwhelming support the hypotheses that the NYMEX future price is an unbiased predictor of future spot prices and that no-arbitrage opportunities are available. The results also demonstrate why common tests of the speculative efficiency hypothesis and simple arbitrage models often reject one or both of these hypotheses.

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Essays in Financial Economics
Type: Book
ISBN: 978-1-78973-390-7

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Article
Publication date: 1 June 1943

Alexander Klemin

THE eleventh annual meeting of the Institute was for the first time held simultaneously in three centres—in New York City at Columbia University, in Detroit at Rackham Educational…

50

Abstract

THE eleventh annual meeting of the Institute was for the first time held simultaneously in three centres—in New York City at Columbia University, in Detroit at Rackham Educational Memorial, and in Los Angeles at the University of Southern California—from January 25 to 29. The purpose of the three simultaneous meetings was to minimize travel by executives and engineers from important war jobs in the present emergency. The same programme was offered at all three centres, papers being sometimes presented by proxies—experts in the same field as far as possible. In spite of the fact that attendance was divided between three centres, there was splendid representation at each place and a wide range of subjects was covered in the many papers. Naturally these were restricted more to analysis, and technology and information as to the latest design or production features of current aircraft or engines was withheld. The same ban applied to striking developments in accessories, instruments and armaments. All papers had to be approved by the Army or Navy and to be read substantially as written. While off‐the‐record discussions were permitted, these discussions were not made public. In particular there was a ban on comparisons between foreign and American materials, equipment or methods. The formula for control of comparison performance stated that the manufacturer's smooth curve calibrations and performance figures might be quoted, but no Wright field performance figures or data could be revealed. In spite of such restrictions a tremendous amount of valuable technical information was presented to the assembled engineers.

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Aircraft Engineering and Aerospace Technology, vol. 15 no. 6
Type: Research Article
ISSN: 0002-2667

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Article
Publication date: 25 October 2018

Mengdi Wang and Dong Li

In accordance with Bagozzi’s self-regulation theory, the aim of this paper is to explore the enablers and inhibitors of continuance intention from the perspective of bullet

656

Abstract

Purpose

In accordance with Bagozzi’s self-regulation theory, the aim of this paper is to explore the enablers and inhibitors of continuance intention from the perspective of bullet curtain, a new form of commentary on online video websites.

Design/methodology/approach

A total of 350 questionnaires were collected for the final analysis (covering 101 questionnaires for the pilot test) from China’s bullet curtain website. To analyze the model, the authors adopted SmartPLS 3.2, a structural equation modeling software.

Findings

As the results suggest, there is a positive correlation between satisfaction and continuance intention and a negative association between social network fatigue and continuance intention. In addition, synchronicity between the comments and video content, a dimension of synchronicity proposed in this study, improves the satisfaction. Furthermore, information overload significantly intensify social network fatigue.

Practical implications

The results help bullet curtain providers offer better interactive environment and improve websites’ functions to stimulate users.

Originality/value

By combining positive effect and negative effect of commentary, this study investigates Bagozzi’s theory in a context of bullet curtain. Besides, combinations of these factors help to gain insights in how the bullet curtain works in online video websites. These offer useful guidelines for managers to optimize a better system.

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Chinese Management Studies, vol. 13 no. 1
Type: Research Article
ISSN: 1750-614X

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Article
Publication date: 5 October 2020

Denis Mike Becker

The primary purpose of this paper is to develop the translation formula between the required return on unlevered and levered equity for the specific case where cash flows have a…

428

Abstract

Purpose

The primary purpose of this paper is to develop the translation formula between the required return on unlevered and levered equity for the specific case where cash flows have a finite lifetime and the flow to debt is prespecified. The secondary purpose of this paper is to underpin the importance of the type of stochasticity of cash flows for translation formulas. A general derivation of such formulas and the discount rate in the free cash flow approach is shown.

Design/methodology/approach

The paper starts with the same assumptions that have been applied by Modigliani and Miller (1963), Miles and Ezzell (1980) and other researchers. Then the paper develops the mathematical foundations to apply a deterministic backward-iterative scheme for valuing cash flows. After stating the valuation formulas for levered and unlevered equity, debt and tax shields, the authors mathematically derive the relationship between the unlevered return and levered return on equity.

Findings

Conventional translation formulas apply to very special cases. They can generally not be used for projects with nonconstant leverage and a finite lifetime. In general, translation formulas depend on continuing values, cash flows, leverage, taxation, risk-free rate, etc. In this paper, the translation depends on the structure of the debt in addition to the well-known parameters in conventional formulas. This paper formula contains the Modigliani-Miller translation formula as a special case.

Originality/value

The authors develop a novel formula for the translation of the required return on unlevered to levered equity. With this formula, the authors offer a solution for the consistent valuation of cash flows with a limited lifetime and given debt financing.

Details

Managerial Finance, vol. 47 no. 4
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 2 January 2025

Ruilian Han, Lu An, Wei Zhou and Gang Li

Social media platforms (SMPs) are pivotal in information dissemination and molding public opinion. Various platforms exhibit differences and characteristics. It is necessary to…

10

Abstract

Purpose

Social media platforms (SMPs) are pivotal in information dissemination and molding public opinion. Various platforms exhibit differences and characteristics. It is necessary to compare and analyze the roles played by different platforms in the evolution of public events.

Design/methodology/approach

This study develops a framework to evaluate the role of SMPs at different stages of public events. To calculate some of these indicators, the GPT-AP-TextRank topic model is constructed. The study further analyzes the correlation between indicators at different stages and SMP’s role and compares SMP’s different roles among the four stages.

Findings

The results reveal significant disparities in the role of different SMPs during public events. Weibo demonstrates notable performance during the outbreak, spread and recession stages of the event, exhibiting a strong influence on public event evolution. Bilibili, Douban, Zhihu and Baidu Tieba show relatively ordinary roles. In addition, compared to the spread stage, SMPs exhibit a stronger ability to influence event redirection in the initial stage, which is different from the original assumption of the study.

Practical implications

The findings expose the powerful roles of SMPs in event evolution, providing valuable insights for enhancing public event governance.

Originality/value

This study proposes an evaluation method for SMPs’ role and introduces a novel GPT-AP-TextRank topic generation model for the indicator calculation.

Details

Aslib Journal of Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2050-3806

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Article
Publication date: 1 March 1988

Ellen Conrad

Published by the Science and Technology Division of the Library of Congress since 1972, the Tracer Bullet series is an underused reference source available in many library and…

58

Abstract

Published by the Science and Technology Division of the Library of Congress since 1972, the Tracer Bullet series is an underused reference source available in many library and government documents collections. The Tracer Bullets cover a wide variety of subjects in the natural and physical sciences and technology. Each one is devoted to a specific topic and is designed “to help a reader begin to locate published material on a subject about which he or she has only general knowledge.” Developed in the style of a library pathfinder, each explores the resources available, listing texts, handbooks, encyclopedias, dictionaries, bibliographies, government documents, and journal articles. Addresses and telephone numbers of relevant organizations are also included as are appropriate Library of Congress subject headings to use in locating additional material.

Details

Reference Services Review, vol. 16 no. 3
Type: Research Article
ISSN: 0090-7324

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Article
Publication date: 1 February 2003

SHIJUN LIU and PETER A. MOZER

A majority of the loan products produced by modern financial intermediaries (e.g., banks) provide borrowers with an option to prepay loans. The institutions issuing these products…

67

Abstract

A majority of the loan products produced by modern financial intermediaries (e.g., banks) provide borrowers with an option to prepay loans. The institutions issuing these products typically retain much of this prepayment exposure on their balance sheets. This article develops and applies a general framework to match funding to the prepayment‐sensitivity of assets, in order to preserve spread and achieve a more stable return profile.

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The Journal of Risk Finance, vol. 4 no. 3
Type: Research Article
ISSN: 1526-5943

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Article
Publication date: 1 June 2002

George K. Chacko

Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange…

4286

Abstract

Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange for Auto Parts procurement by GM, Ford, Daimler‐Chrysler and Renault‐Nissan. Provides many case studies with regards to the adoption of technology and describes seven chief technology officer characteristics. Discusses common errors when companies invest in technology and considers the probabilities of success. Provides 175 questions and answers to reinforce the concepts introduced. States that this substantial journal is aimed primarily at the present and potential chief technology officer to assist their survival and success in national and international markets.

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Asia Pacific Journal of Marketing and Logistics, vol. 14 no. 2/3
Type: Research Article
ISSN: 1355-5855

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Article
Publication date: 1 November 1948

UNTIL the end of 1948 Mr. Nowell remains our President and his occupancy of the office has fulfilled all that we expected of him. It has been forceful and, we think, has left its…

23

Abstract

UNTIL the end of 1948 Mr. Nowell remains our President and his occupancy of the office has fulfilled all that we expected of him. It has been forceful and, we think, has left its mark upon us, his general statesmanship and complete sanity of outlook being shown whenever he had occasion to direct meetings or to speak to them. He does not now go into retirement as our past four presidents‐have done by the fiat of superannuation schemes ; he has what President Cashmore called the glory of going on for a number of years yet. He will therefore continue to exercise profound influence on public and other librarianship with the wisdom and power with which, as President, he has won general thanks.

Details

New Library World, vol. 51 no. 5
Type: Research Article
ISSN: 0307-4803

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