Peter Greenwood, Börje S. Gevert, Jan‐Erik Otterstedt, Gunnar Niklasson and William Vargas
The purpose of this paper is to develop methods to produce white composite pigments consisting of a silica core with a titania shell.
Abstract
Purpose
The purpose of this paper is to develop methods to produce white composite pigments consisting of a silica core with a titania shell.
Design/methodology/approach
Silica cores were coated with titanium dioxide (TiO2) via forced hydrolysis of a solution prepared from titanium tetrachloride (TiCl4). The morphology, surface charge and particle size of obtained composite particles were studied.
Findings
Dispersions of well‐dispersed composite particles, having silica cores of uniform size in the range from 300 to 500 nm with a homogeneous titania coating are obtained. The coating thickness corresponded to 150‐400 per cent by weight of titania based on the core. Modification of the silica core by incorporation of 1.5 aluminosilicate sites per square nanometre of core surface proves to be favourable in achieving a homogeneous coating on the silica core. Deposition of such titania coating is also favoured by agitating the dispersion well, keeping electrolyte content low, maintaining pH at 2.0 and the temperature at 75°C during the coating process.
Research limitations/implications
Only TiCl4 is used as titania source. In addition, only silica cores obtained by Stöber synthesis are used while commercially available silica solutions made from sodium silicate are not used.
Practical implications
The process offers a method of producing a white composite pigment with a narrow particle size distribution in order to maximise light scattering as well as using a core with lower density than the shell. This kind of particle would be of interest for coating applications and white inorganic inks.
Originality/value
The developed method provides a straightforward process to produce well‐defined composite particles.
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Stefan Colza Lee and William Eid Junior
This paper aims to identify a possible mismatch between the theory found in academic research and the practices of investment managers in Brazil.
Abstract
Purpose
This paper aims to identify a possible mismatch between the theory found in academic research and the practices of investment managers in Brazil.
Design/methodology/approach
The chosen approach is a field survey. This paper considers 78 survey responses from 274 asset management companies. Data obtained are analyzed using independence tests between two variables and multiple regressions.
Findings
The results show that most Brazilian investment managers have not adopted current best practices recommended by the financial academic literature and that there is a significant gap between academic recommendations and asset management practices. The modern portfolio theory is still more widely used than the post-modern portfolio theory, and quantitative portfolio optimization is less often used than the simple rule of defining a maximum concentration limit for any single asset. Moreover, the results show that the normal distribution is used more than parametrical distributions with asymmetry and kurtosis to estimate value at risk, among other findings.
Originality/value
This study may be considered a pioneering work in portfolio construction, risk management and performance evaluation in Brazil. Although academia in Brazil and abroad has thoroughly researched portfolio construction, risk management and performance evaluation, little is known about the actual implementation and utilization of this research by Brazilian practitioners.
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Alvaro Cuervo-Cazurra, Jorge Carneiro, Diego Finchelstein, Patricio Duran, Maria Alejandra Gonzalez-Perez, Miguel A. Montoya, Armando Borda Reyes, Maria Tereza Leme Fleury and William Newburry
This paper aims to analyze how emerging market firms upgrade their capabilities by focusing on “uncommoditizing strategies” that enable them to achieve levels of international…
Abstract
Purpose
This paper aims to analyze how emerging market firms upgrade their capabilities by focusing on “uncommoditizing strategies” that enable them to achieve levels of international competitiveness beyond the comparative advantages of their home countries and serve markets with premium pricing, quality and reputation of products.
Design/methodology/approach
In this paper, the authors studied 18 Latin American companies across six countries. Latin America represents an ideal setting because many of these countries have traditionally developed using natural resource endowments, and their firms have tended to rely on these in their internationalization. To facilitate the analysis of each case and the comparisons across cases, the authors used the same analytical framework for the companies, identifying the sources of differentiation and cost efficiency strategies that enabled these firms to upgrade their capabilities and compete on the basis of premium pricing, quality and reputation.
Findings
The analysis identified a general framework that represents an abstraction of the actions taken by these companies over time. The proposed model consists of three main elements used to pursue uncommoditizing strategies: tropicalized innovation, global efficiency and coordinated control.
Originality/value
Recent research on emerging market firms has shown interest in how these firms upgrade their capabilities. This paper contributes to this stream of research by providing an overarching framework that not only bridged previous narrower studies but also explained how firms can develop uncommoditizing strategies to upgrade their capabilities. Further, this paper helps managers by providing a comprehensive yet succinct overview of the main strategies that they can use to help their firms to achieve international competitiveness.
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Marcio Pereira Basilio, Valdecy Pereira, Max William Coelho de Oliveira and Antonio Fernandes da Costa Neto
The purpose of this study is modelling of a problem of policing strategy order using a multicriteria method.
Abstract
Purpose
The purpose of this study is modelling of a problem of policing strategy order using a multicriteria method.
Design/methodology/approach
For the construction of the impact matrix strategies under the reduction of crime rates, considering a portfolio of crimes, a questionnaire applied to specialists was used. In a second moment, defined the criteria and strategies to be ordered, the multicriteria PROMETHEE II method was used, which with the help of the Visual PROMETHEE software, emulated the systematised data in the impact matrix and produced the final ordering of the most efficient strategies, in the fight against crime, in the perception of decision makers.
Findings
As a result, this research revealed that radio patrol, when used in a non-randomised manner, is the most effective policing strategy in reducing the 18 criminal demands studied in the perception of decision makers after data emulation with the PROMETHEE II method.
Research limitations/implications
As research implications, it can be inferred that the use of multicriteria methods in the modelling of problems in public security area can contribute to the rationalisation of use of the available means in the fight against crime in large cities. This research showed that it is possible to use customised policing strategies to absolute reality.
Practical implications
The practical impact of this research lies in optimising the resources available to law enforcement agencies in the fight against crime in general.
Social implications
It can be inferred that by choosing appropriate strategies to combat local crime, there is a direct implication in optimising the resources that the government makes available to police agencies. This optimisation allows pressure reduction under the public budget for more features. The model for choosing more effective strategies contributes to local crimes decrease, increasing the sense of the population security.
Originality/value
The originality lies in filling a gap in the literature with the elaboration of the impact matrix of policing strategies in reducing criminal indices and in their associated use in ordering strategies through a multicriteria method. This study contributed to applied police intelligence.
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Marcio Pereira Basilio, Valdecy Pereira, Max William Coelho Moreira de Oliveira, Antonio Fernandes da Costa Neto, Orlinda Claudia Rosa de Moraes and Samya Cotta Brandão Siqueira
The database of the Web of Science (WoS) was searched for publications from January 1945–May 7, 2020 on the topic of domestic violence in titles, abstracts and keywords. The…
Abstract
Purpose
The database of the Web of Science (WoS) was searched for publications from January 1945–May 7, 2020 on the topic of domestic violence in titles, abstracts and keywords. The references were analyzed using the R bibliometrix package, and abstracts were analyzed using latent Dirichlet allocation (LDA) with collapsed Gibbs sampling to obtain topics related to domestic violence.
Design/methodology/approach
The aim of the study is to explore and provide an overview of research carried out on domestic violence, in its various aspects, over the past fifty years.
Findings
As a result of the research, the authors can assert that in the last fifty years, 32,298 authors have produced 19,495 documents on the theme of policing strategy and related subjects in 111 countries. Scientific production in this area grows at a rate of 12.81 per year. The United States of America is the leading country in publications with 48.14%, followed by the United Kingdom with 7.57% and Australia with 6.05%. Regarding universities, the highlight is the University of California with 664 publications, followed by the University of London with 515 and the University of North Carolina with 484. As for journals, the highlight is the Journal of Interpersonal Violence, Journal of Family Violence and Violence Against Women, which account for more than 14.32% of all indexed literature. Regarding the authors, the highlight is Campbell J.C and Feder G. Probabilistic topic modeling revealed that 18% of the topics concentrate 90% of all tokens. Topic 1 accounts for 27.9% of the sample and conducts research related to intimate partner violence.
Practical implications
As a practical implication of using the LDA in the bibliographic review, we infer that its capacity to explore large masses of data allows the researcher to explore an infinitely greater amount than the traditional methods of systematic literature review.
Originality/value
The value of these studies is summarized in the presentation of an overview on the theme in the last fifty years, offering the opportunity for other researchers to use this research as a starting point for other analyses.
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Mariana Oreng, Claudia Emiko Yoshinaga and William Eid Junior
This study aims to investigate the association of demographic characteristics, market conditions and risk taking with the disposition effect using data on Brazilian individual…
Abstract
Purpose
This study aims to investigate the association of demographic characteristics, market conditions and risk taking with the disposition effect using data on Brazilian individual investors.
Design/methodology/approach
This study uses a unique data set with monthly data from June 2007 to February 2017 provided by one of the largest asset management firms in Brazil. This paper computes the proportion of gains realized and the proportion of losses realized to see if investors incur the disposition effect. This paper then performs logistic regressions to verify the association between investors’ disposition effects and demographic and portfolio characteristics. This paper analyses the prevalence of cognitive biases depending on market conditions (bull or bear markets) and include regressions by asset class as robustness checks.
Findings
This paper finds evidence that risk averse investors are more prone to the disposition effect, male subjects are less prone to this cognitive bias and age is not associated with the disposition effect. This paper observes that the tendency to incur the disposition effect decreases during bull markets but increases during bear markets. Also, this paper finds that sophisticated investors are more prone to selling winning assets and holding on to losses.
Research limitations/implications
First, paper gains and losses are based on the highest and lowest prices of the month and not on the price at the moment the sale occurred. Second, this paper had access only to end-of-month information, not to actual daily trading records. Third, because the data set relates to individual investors who trade investment funds, this paper cannot determine whether firm size is associated with the disposition effect. Fourth, age may not necessarily be a proxy for investor experience, so one should interpret the lack of significance for age in terms of generational differences.
Practical implications
This paper demonstrates that the disposition effect is prevalent even among wealthier and more educated investors with delegated asset classes. This paper also presents evidence on the association between demographic characteristics and cognitive biases considering a liquidity-constrained, highly volatile and developing market.
Social implications
This paper demonstrates that gender is an important characteristic to understand cognitive biases and that investor sophistication may not necessarily be an attenuation factor for the disposition effect in a liquidity-constrained market.
Originality/value
This is the first study to analyse the role of demographic characteristics and risk taking to explain the disposition effect using real information at the individual level about Brazilian investors. It is also the first to analyse the intensity of cognitive biases during bull and bear markets in the Brazilian economy.
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Armando Borda Reyes, William Newburry, Jorge Carneiro and Carlos Cordova
This paper aims to use Latin America as a laboratory to better understand the relationship between inward foreign direct investment (IFDI) and outward foreign direct investment…
Abstract
Purpose
This paper aims to use Latin America as a laboratory to better understand the relationship between inward foreign direct investment (IFDI) and outward foreign direct investment (OFDI) (both in total as well as in regional flows) and also examine the moderating effect of trade openness on that relationship. Latin America is an ideal study context for this purpose because of the relative homogeneity of its countries, which reduces confounding effects and increases comparability.
Design/methodology/approach
This paper uses longitudinal panel regression models with moderation effects. Secondary data were gathered on IFDI (per country and per country-sector), OFDI (total per country and region-targeted per country) and on trade openness from 11 Latin American countries.
Findings
IFDI in natural resources is positively associated with OFDI in both overall total flows and regional flows. The effect of IFDI in manufacturing has a consistent negative effect on total OFDI. IFDI in services has positive effects on total OFDI. Additionally, trade openness moderates positively the relationship between total IFDI and both total OFDI and regional OFDI. As a consequence, the authors found evidence suggesting that the relation between IFDI and OFDI in Latin America is positively moderated by trade openness.
Originality/value
The authors explored the nature of the impact of IFDI on the capacity of the recipient country to compete abroad as expressed by its OFDI flows. Specifically, they elucidated whether trade openness can be considered a suitable mechanism for home country firms to leverage potential spillovers provided by foreign entrants.