Zhi Wang, Arvind Upadhyay and Anil Kumar
Facing the challenges posed by the pandemic of COVID-19, this paper aims to contribute to the resilience of businesses through the development of a real options approach (ROA…
Abstract
Purpose
Facing the challenges posed by the pandemic of COVID-19, this paper aims to contribute to the resilience of businesses through the development of a real options approach (ROA) that provides alternatives and opportunities for a decision process under situations when future events and outcomes are unknown and not capable of being known from current information.
Design/methodology/approach
This paper involves a stochastic modelling process in generating a set of absolute option values, using available data and scenarios from the COVID-19 pandemic event. The modelling and simulations using ROA suggest how strategic portfolios resolve the growing problem during the endemic to all but in the most isolated societies.
Findings
This study finds the emergent correlation between circuit breakers and lockdowns, which have brought about a “distorted gravity” effect (inverse growth of global businesses and trades). However, “time-to-build” real options (i.e. deferral, expand, switch and compound exchange) start to function in the adaptive-transformative capabilities for growth opportunities of both government and corporate sectors. Significantly, some sectors grow faster than others while the compound exchange remains primarily challenging. Clearly, the government and corporate sectors are entangled, inevitably, the decoherence allows for the former to change uncertainty in the latter; therefore, government sector options change option values in the corporate sector.
Originality/value
The ROA by empirically focusing on both government and corporate sectors demonstrates under conditions of uncertainty how options in decision-making generate opportunities that hitherto have not been recognised and exercised upon by research in the immediate context of the COVID-19 pandemic. Importantly, the ROA provides an insightful concatenation (capability–behaviour approach) that drives resilience.
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Qiang Xiao, Liu Yi-Cong, Yue-Peng Zhou, Zhi-Hong Wang, Sui-Xin Fan, Jun-Hu Meng and Junde Guo
Given the current friction and wear challenges faced by automobile parts and bearings, this study aims to identify a novel texture for creating anti-friction and wear-resistant…
Abstract
Purpose
Given the current friction and wear challenges faced by automobile parts and bearings, this study aims to identify a novel texture for creating anti-friction and wear-resistant surfaces. This includes detailing the preparation process with the objective of mitigating friction and wear in working conditions.
Design/methodology/approach
Femtosecond laser technology was used to create a mango-shaped texture on the surface of GCr15 bearing steel. The optimized processing technology of the texture surface was obtained through adjusting the laser scanning speed. The tribological behavior of the laser-textured surface was investigated using a reciprocating tribometer.
Findings
The friction coefficient of the mango-shaped texture surface is 25% lower than that of the conventional surface, this can be attributed to the reduced contact area between the friction ball and the micro-textured surface, leading to stress concentration at the extrusion edge and a larger stress distribution area on the contact part of the ball and disk compared to the conventional surface and the function of the micro-texture in storing wear chips during the sliding process, thereby reducing secondary wear.
Originality/value
The mango-shaped textured surface in this study demonstrates effective solutions for some of the friction and wear issues, offering significant benefits for equipment operation under light load conditions.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/ILT-04-2024-0127/
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Xu Long, Xianyi Zhao, Kainan Chong, Yutai Su, Kim S. Siow, Zhi Wang, Fengrui Jia and Xin Wan
The purpose of this paper is to analyze and compare the mechanical properties of sintered nanosilver with different porosities at both the mesoscopic and macroscopic scales and to…
Abstract
Purpose
The purpose of this paper is to analyze and compare the mechanical properties of sintered nanosilver with different porosities at both the mesoscopic and macroscopic scales and to conduct a multiscale analysis of the porosity effect on the mechanical properties of sintered nanosilver.
Design/methodology/approach
This paper establishes a mesoscopic model for the uniaxial tension of sintered nanosilver and a macroscopic model for chips containing sintered silver layers. Using the finite element method, combined with crystal plasticity theory and unified creep plasticity theory, a multiscale analysis is conducted for the mechanical properties of sintered nanosilver. First, stress distribution characteristics under uniaxial tensile loading for different porosities in sintered nanosilver polycrystal models are analyzed at the mesoscopic scale. Second, at the macroscopic scale, the mechanical performance of sintered nanosilver layers with varying porosities in high-power chip models under cyclic loading is analyzed. Finally, the porosity influence on the damage evolution in sintered nanosilver is summarized, and simulations are conducted to explore the evolution of damage parameters in sintered nanosilver under different porosities.
Findings
In the mesoscopic model, the presence of mesoscale voids affects the stress distribution in sintered nanosilver subjected to tensile loading. Sintered nanosilver with lower porosity exhibits higher tensile strength. In the macroscopic model, sintered nanosilver layers with lower porosity correspond to a more uniform stress distribution, whereas higher porosity leads to faster accumulation of plastic strain in the sintered layer. During chip packaging processes, improving processes to reduce the porosity of sintered layers can delay the initiation of damage and the propagation of cracks in sintered nanosilver.
Practical implications
During chip packaging processes, improving processes to reduce the porosity of sintered layers can delay the initiation of damage and the propagation of cracks in sintered nanosilver.
Originality/value
This paper innovatively uses a mesoscopic crystal plasticity constitutive model and a macroscopic unified creep plasticity constitutive model to analyze the mechanical behavior of sintered nanosilver with different porosities. It comprehensively investigates and explains the influence of porosity on the mechanical performance of sintered nanosilver across multiple scales.
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Zhen Yang, Kangning Song, Xingsheng Gu, Zhi Wang and Xiaoyi Liang
Nitrogen oxides (NOx) have been considered as primarily responsible for many serious environmental problems. Removing NO is the key task to remove NOx hazards. To clarify, NO…
Abstract
Purpose
Nitrogen oxides (NOx) have been considered as primarily responsible for many serious environmental problems. Removing NO is the key task to remove NOx hazards. To clarify, NO removal process for pitch-based spherical-activated carbons (PSACs), an online prediction and optimization technique in real-time based on support vector machine algorithm in regression (support vector regression [SVR]) is discussed. The purpose of this paper is to develop a predictor and optimizer system on selective catalytic reduction of NO (SCRN) using experimental data and data-driven SVR intelligence methods.
Design/methodology/approach
Predictor and optimizer using developed SVR have been proposed. To modify the training efficiency of SVR, the authors especially customize batch normalization and k-fold cross-validation techniques according to the unique characteristics of PSACs model.
Findings
The results present that SVR provides a property regression model since it can linkage linear and non-linear process and property relationships in few experimental data sets. Also, the integrated normalization and k-fold cross-validation show a satisfying improvement and results for SVR optimization. The predicted results of predictor and optimizer in single and double factor systems are in excellent agreement with the experimental data.
Originality/value
SCRN-PO for predicting and optimization SCRN problems is developed by data-driven methods. The outperformed SCRN-PO system is used to predict multiple-factors property parameters and obtain optimum technological parameters in real-time. Also, experiment duration is greatly shortened.
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Xi Liang Chen, Zheng Yu Xie, Zhi Qiang Wang and Yi Wen Sun
The six-axis force/torque sensor based on a Y-type structure has the advantages of simple structure, small space volume, low cost and wide application prospects. To meet the…
Abstract
Purpose
The six-axis force/torque sensor based on a Y-type structure has the advantages of simple structure, small space volume, low cost and wide application prospects. To meet the overall structural stiffness requirements and sensor performance requirements in robot engineering applications, this paper aims to propose a Y-type six-axis force/torque sensor.
Design/methodology/approach
The performance indicators such as each component sensitivities and stiffnesses of the sensor were selected as optimization objectives. The multiobjective optimization equations were established. A multiple quadratic response surface in ANSYS Workbench was modeled by using the central composite design experimental method. The optimal manufacturing structural parameters were obtained by using multiobjective genetic algorithm.
Findings
The sensor was optimized and the simulation results show that the overload resistance of the sensor is 200%F.S., and the axial stiffness, radial stiffness, bending stiffness and torsional stiffness are 14.981 kN/mm, 16.855 kN/mm, 2.0939 kN m/rad and 6.4432 kN m/rad, respectively, which meet the design requirements, and the sensitivities of each component of the optimized sensor have been well increased to be 2.969, 2.762, 4.010, 2.762, 2.653 and 2.760 times as those of the sensor with initial structural parameters. The sensor prototype with optimized parameters was produced. According to the calibration experiment of the sensor, the maximum Class I and II errors and measurement uncertainty of each force/torque component of the sensor are 1.835%F.S., 1.018%F.S. and 1.606%F.S., respectively. All of them are below the required 2%F.S.
Originality/value
Hence, the conclusion can be drawn that the sensor has excellent comprehensive performance and meets the expected practical engineering requirements.
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Biodiversity conservation is a major challenge globally. This global challenge exists due to the Scarcity of funds to preserve biodiversity. The need for more funds is the primary…
Abstract
Biodiversity conservation is a major challenge globally. This global challenge exists due to the Scarcity of funds to preserve biodiversity. The need for more funds is the primary issue in managing biodiversity in this uncertain environment wherein different challenges emerge routinely. Thus, the main purpose of this study is to focus on the issues of biodiversity conservation and to examine alternative sources for biodiversity financing. Biodiversity is a multidimensional aspect covering several facets of the environment. It acts as a life support on earth and is a catalyst for human survival. However, biodiversity conservation is critical due to the Scarcity of biodiversity financing (Negacz, Petersson, Widerberg, Kok, & Pattberg, 2022). Thus, it is the need of the hour to overcome this issue by examining varied sources to generate more funds for preserving biodiversity. The study is based on a systematic review of past research wherein possible alternatives have been provided for generating necessary funds to mitigate biodiversity loss. It is revealed through past literature that though effort is made to combat the problem of funds, a very minimal effort is made at the individual level. More so framework lneeds to be not implemented globally. Therefore, the present study has proposed the practice of Green finance as an innovative financial mechanism to deal with biodiversity loss by emphasising environmental benefits. As laid down in this paper, a theoretical framework about biodiversity loss will encourage researchers to carry out various studies from varied outlooks to have a holistic approach towards this issue, hence ensuring environmental sustainability.
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Introduction: Investments in environmentally friendly initiatives can bolster infrastructure projects, agricultural methods, and water management systems that improve the ability…
Abstract
Introduction: Investments in environmentally friendly initiatives can bolster infrastructure projects, agricultural methods, and water management systems that improve the ability to withstand climate-related difficulties. Green investments encompass endorsing carbon markets and financial instruments that incentivise reducing emissions. This research helps attain the climate objectives described in sustainable development goal 13 (SDG 13).
Purpose: This chapter aims to investigate the relationship between greenhouse gases (GHG) and gross domestic product (GDP), with the underlying objective of understanding the relevance of green investment for sustainable development.
Methodology: For the analysis, the top five countries: the USA, China, Germany, Japan, and India, were chosen based on the world’s largest economies in 2023, as per their GDP data. For testing the hypothesis, data from the World Bank database during the period 2002-2022 was retrieved and GDP is used as a dependent variable and GHG as an independent variable. For the study, panel data are used, and the Johansen cointegration test and ordinary least squares (OLS) regression are applied.
Findings: In the case of China and India, the null hypothesis has been rejected, which is depicted by the significant and high degree of relation between GHGs and the GDP of these two countries. The null hypothesis is also rejected for the USA and Germany, but it shows a significant and moderate degree of relationship between GHG and GDP. For Japan, the null hypothesis is accepted and reflects a negative relationship between GHG and GDP.
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Mehwish Bhatti, Saba Shaikh and Nazish Baladi
The main objective of this chapter is to figure out various challenges emerging, or transition economies face in fostering sustainable finance. In this regard, extensive review of…
Abstract
The main objective of this chapter is to figure out various challenges emerging, or transition economies face in fostering sustainable finance. In this regard, extensive review of the extant and relevant literature is conducted with specification of time range, online database, and keywords. The findings suggest the various financing barriers experienced by emerging and transition economies in implementing the sustainable development goals (SDGs). Furthermore, this chapter triggers further debate on green financing initiatives that can help in dealing with the challenges of sustainable finance. It is found that green financing initiatives offer significant solutions in emerging and transition economies. In addition, this chapter provides policy implications to academia, practitioners, financial institutions, and government agencies to promote sustainable finance.
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The chemical plant (CP) maintenance industry has been under increasing pressure by process designers to demonstrate its evaluation and information management of model checking…
Abstract
Purpose
The chemical plant (CP) maintenance industry has been under increasing pressure by process designers to demonstrate its evaluation and information management of model checking (MC) on the durability’s performance and design of plant control instrument. This main problem has been termed as imperfect maintenance actions (IMAs) level. Although IMAs have been explored in interdisciplinary maintenance environments, less is known about what imperfect maintenance problems currently exist and what their causes are, such as the recent explosion in the Beirut city (4 August 2020, about 181 fatalities). The aim of this paper is to identify how CP maintenance environments could integrate MC within their processes.
Design/methodology/approach
To achieve this aim, a comprehensive literature review of the existing conceptualisation of MC practices is reviewed and the main features of information and communication technology tools and techniques currently being employed on such IMA projects are carried out and synthesised into a conceptual framework for integrating MC in the automation system process.
Findings
The literature reveals that various CP designers conceptualise MC in different ways. MC is commonly shaped by long-term compliance to fulfil the requirement for maintaining a comfortable durability risk on imperfect maintenance schemes of CP projects. Also, there is a lack of common approaches for integrating the delivery process of MC. The conceptual framework demonstrates the importance of early integration of MC in the design phase to identify alternative methods to cogenerate, monitor and optimise MC.
Originality/value
Thus far, this study advances the knowledge about how CP maintenance environments can ensure MC delivery. This paper highlights the need for further research to integrate MC in CP maintenance environments. A future study could validate the framework across the design phase with different CP project designers.