bluuebunny/crossref_metadata_2025_split huggingface dataset:
Overseas listing location and capital structure
Authors: Li Peixin , Wang Baolian 
Published: February 2014

Purpose
– A significant number of Chinese companies are listed overseas. The authors aim to examine whether overseas locations affect their financing decision, specifically their capital structure choice.

Design/methodology/approach
– Most of the Chinese overseas listed companies are listed in the USA and Hong Kong. As the institutional quality of the USA is better than Hong Kong, the authors, therefore, choose to build the hypotheses from the “law and finance” literature. Specifically, the authors argue that the better institutional environment of the USA can mitigate the information asymmetry problem and the agency problem of financing via equity. Consequently, firms listed in the USA will rely more on equity and have lower leverage ratio. The difference in leverage ratio of US listed and Hong Kong listed companies should be larger when the marginal benefit of better information environment is larger.

Findings
– Referring to various data sources, the authors construct a comprehensive list of overseas listed companies in the USA and Hong Kong. The authors collect the accounting and stock performance information from Datastream/Worldscope and the equity offering data from Global New Issue database. The empirical findings provide strong support of the hypotheses: the leverage is 15 percent lower for US listed companies than the Hong Kong listed companies; the results are stronger when the firms face more severe information asymmetry problem; the stock price reacts less negatively for seasoned equity offering in the USA than in Hong Kong.

Practical implications
– Most of the Chinese companies decided to be listed overseas because they cannot be listed in the Mainland Chinese stock exchanges. One of the most important motivation is to access to external capital to support firm growth. As the main channel of external financing in the overseas markets is equity since debt is still mainly domestically based, one implication of this paper is that Chinese companies can gain better access to external capital in the USA than in Hong Kong and relax their financial constraint.

Originality/value
– There are a considerable number of Chinese companies listed in the overseas markets. Many successful and famous companies are among them. However, almost no research has been done based on them. This paper documents some very important phenomenon of this market. The authors wish that more studies will be conducted. In addition, the study also complements the existing studies on how institutional environment affects corporate financial behavior.
Assessment on RMB valuation – a triangular analysis approach
Authors: Wang Peijie , Zhang Bing 
Published: February 2014

Purpose– The authors make assessment on RMB valuation and to contribute to the fierce debate on this important issue, which is perceived to have a great effect on the improvement or deterioration in trade balance. A triangular analysis approach is put forward and empirical assessment is made. The paper aims to discuss these issues.Design/methodology/approach– A triangular analysis approach based on no arbitrage conditions for three currencies, and causality and influence analysis.Findings– First, it has been found that the movements in the RMB dollar exchange rate do influence the dollar euro exchange rate and the former do have a causality effect on the latter, in both the long run and the short term. Second, it is implied that the RMB is overvaluedvis-à-visthe US dollar, as the analysis suggests that an overvalued eurovis-à-visthe US dollar would imply a kind of overvaluation of the RMBvis-à-visthe US dollar, and by any conventional measures the euro has appeared to be overvaluedvis-à-visthe US dollar, especially in the months before the last financial crisis.Practical implications– First, the peg of the RMB to the US dollar that undervalues the RMBvis-à-visthe US dollar will not help promote China's overall trade balance or export even if undervaluation of currencies can ever help improve nations' terms of trade. Second, no stability in RMB exchange rates can be claimed by pegging the RMB to the US dollar, as the exchange rate of the RMBvis-à-viscurrencies other than the US dollar would be as volatile as that between the US dollar and the euro and other convertible currencies.Originality/value– A new triangular analysis approach in international finance research. First, there is an advantage to adopt this seemingly simple analytical framework: it is highly reliable; no triangular arbitrage conditions have to be met even under exchange controls, whilst PPP may not hold even with flexible exchange rate regimes. Second, it does away with the thinking confined to small open economies that has dominated academic research for so long and is totally inapplicable to the RMB case.
Testing asymmetric correlations in stock returns via empirical likelihood method
Authors: Pan Zhiyuan , Zheng Xu , Chen Qiang 
Published: February 2014

Purpose
– This study aims to propose a model-free statistic that tests asymmetric correlations of stock returns, in which stocks move more often with the market when the market goes down than when it goes up, and then empirically analyze the asymmetric correlations of the China stock market and international stock markets, respectively.

Design/methodology/approach
– Using empirical likelihood method, this study designs and conducts a model-free test, which converges to χ2 distribution under regulated conditions and performs well in the finite sample using bootstrap critical value method.

Findings
– By analyzing the authors' model-free test, the authors find that compared with Hong et al.'s test that closely relates to the authors, both of the tests are under rejected using asymptotic critical value. However, using the bootstrap critical value method can greatly improve the performance of the two tests. Second, investigating the power of the two tests, the authors find that the proportion of rejections of the authors' test is roughly 10-20 percent larger than Hong et al.'s test in mixed copula model setting. The last finding is the authors find evidence of asymmetric for small-cap size portfolios, but no evidence for middle-cap and large-cap size portfolios in the China stock market. Besides, the authors test asymmetric correlations between the USA and Japan, France and the UK; the asymmetric phenomenon exists in international stock markets, which is similar to Longin and Solnik's findings, but they are not significant according to both the authors' test and Hong et al.'s test.

Research limitations/implications
– The findings in this study suggest that both the authors' test and Hong et al.'s test are under rejected using asymptotic critical value. When applying these statistics to test asymmetric correlations, the authors should take care with the choice of critical value.

Practical implications
– The empirical analysis has a significant practical implication for asset allocation, asset pricing and risk management fields.

Originality/value
– This study constructs a model-free statistic to test asymmetric correlations using empirical likelihood method for the first time and corrects the size performance by bootstrap method, which improves the performance of Hong et al.'s test. To the authors' knowledge, this is the first study to test the asymmetric correlations in the China stock market.
Macro-factors on gold pricing during the financial crisis
Authors: Fan Wei , Fang Sihai , Lu Tao 
Published: February 2014

Purpose
– This study aims to propose the idea of which macro-factors and how the macro-factors impact on the gold price.

Design/methodology/approach
– An EGARCH model is applied to test the volatility of gold price. A VAR method is applied to validate the idea by decomposing gold's value into three parts according to its features.

Findings
– Three macro-factors have significant impact on the gold's price. The USDX index is negatively correlated with the gold price, while the CRB index and the US Treasury CDS spreads are positively correlated with the gold price. In particular, it is found that the one-lagged CRB index, one-lagged USDX index, and two-lagged US Treasury CDS spreads have significant impact on the gold price.

Research limitations/implications
– The findings in this study suggest a normal case of the gold price. However, in particular cases, new models or new parameters may need to be introduced.

Practical implications
– This paper bridges the gap between theory and practice on the gold pricing model. The three-factor model can be used for trading in the field of gold investment.

Originality/value
– This paper provides a composite idea for investors and researchers to study the gold price.
Transient mixed convection flow of nanofluids in a vertical tube
Authors: Viorel Popa Catalin , Tam Nguyen Cong , Fohanno Stéphane , Polidori Guillaume 
Published: February 2014

Purpose
– In the present work, a theoretical model based on the full Navier-Stokes and energy equations for transient mixed convection in a vertical tube is extended to nanofluids with nanoparticle volume fraction up to 5 percent to ensure a Newtonian fluid behaviour. The paper aims to discuss these issues.

Design/methodology/approach
– The nanofluids considered, alumina/water and CuO/water, flow inside a vertical tube of circular cross-section, which is subjected to convective heat exchange at the outer surface. The transient regime is caused by a sudden change of nanofluid temperature at the tube inlet. The range of the Richardson number (1.6=Ri=2.5) investigated in this study corresponds to classic cases of mixed convection flow.

Findings
– Results have shown a significant reduction in the size of the recirculation zone near the wall when the particle volume fraction increases. This may be attributed to the viscosity increase with the volume fraction. Moreover, the flow structure clearly changes when the convective heat transfer coefficient is modified. A decrease of the wall temperature along the tube was found when increasing the convective heat transfer coefficient imposed at the tube external surface.

Research limitations/implications
– The problem formulation in 2D axisymmetric geometry includes the continuity, the Navier-Stokes and energy equations and is based on the stream function and vorticity; the numerical solution of equations is carried out using a finite difference method.

Practical implications
– From an economic point of view, this research paper is innovative in the sense that it considers nanofluids as a new and more efficient way to transfer heat. This paper could find applications for heat exchange purposes of compact systems with high thermal loads.

Originality/value
– Across the world, a still growing number of research teams are investigating nanofluids and their properties. Investigations concern several aspects such as the preparation of the nanofluids, as well as the applications of these nanofluids for convective heat transfer purposes. The dynamical study will consist in the instantaneous and spatial characterization of the dynamic flow field for different nanoparticle volume fractions.
Three-dimensional stretched flow via convective boundary condition and heat generation/absorption
Authors: Hayat Tasawar , Ali Shehzad Sabir , Qasim Muhammad , Asghar Saleem 
Published: February 2014

Purpose
– The purpose of this paper is to investigate the three-dimensional flow of viscous fluid with convective boundary conditions and heat generation/absorption.

Design/methodology/approach
– The governing partial differential equations are reduced into ordinary differential equations by applying similarity transformations. Series solutions of velocity and temperature are found by adopting homotopy analysis method (HAM).

Findings
– The authors found that an increase in ratio parameter and Hartman number increased the values of skin-friction coefficient, but the values of local Nusselt number are reduced with an increase in Hartman number.

Practical implications
– The present study is a useful source of information for the investigators in the fields of Newtonian fluids and heat transfer. The results obtained are specifically important in processes of polymer industry and metallurgical.

Originality/value
– Very scarce literature is available on three-dimensional stretched flow with convective boundary conditions. Mathematical modelling for such flow in regime of magnetohydrodynamics is a main concern here. Performed computations to the resulting nonlinear analysis further enhance its novelty.
Soret-Dufour effects on MHD rotating flow of a viscoelastic fluid
Authors: Hayat T. , Naz R. , Asghar S. , Alsaedi A. 
Published: February 2014

Purpose
– The purpose of this paper is to study the heat and mass transfer with Soret-Dufour effects for the magnetohydrodynamic three-dimensional flow of second grade fluid in the rotating frame of reference.

Design/methodology/approach
– Series solution is obtained by homotopy analysis method.

Findings
– Increase in Soret number, Schmidt number and Dufour number, the heat transfer increases and mass transfer decreases. Effects of Prandtl and Eckert numbers are qualitatively similar as they assist the temperature profile and reduce the concentration of species. Increase in the length of the channel versus height increases the temperature profile but decreases the concentration field. Increase in the second grade fluid parameter causes reduction in both the temperature and concentration fields. The heat flux values at the lower plate are smaller than the values at the upper plate, whereas the situation is opposite in the case of mass transfer.

Originality/value
– These findings will be useful for the fluid flow in porous channel.
Time-dependent flow of UCM fluid with chemical reaction, thermal-diffusion and diffusion-thermo effects
Authors: Awais M. , Alsaedi A. , Hayat T. 
Published: February 2014

Purpose
– The authors presented the time-dependent flow of an upper-convected Maxwell (UCM) fluid in the presence of chemical reaction, thermal-diffusion and diffusion-thermo effects. The paper aims to discuss these issues.

Design/methodology/approach
– Recent technique namely homotopy analysis method (HAM) is utilized to compute the solution of the problem.

Findings
– Chemical reaction has opposite effects on the concentration field for the destructive and constructive cases. The Deborah number acts as a retarding agent.

Originality/value
– Combined effects of thermal-diffusion, diffusion-thermo and chemical reaction are analyzed.
An analytic solution of micropolar flow in a porous channel with mass injection using homotopy analysis method
Authors: Hassan Hany , Mehdi Rashidi Mohammad 
Published: February 2014

Purpose
– The paper aims to find an accurate analytic solution (series solution) for the micropolar flow in a porous channel with mass injection for different values of Reynolds number.

Design/methodology/approach
– In this paper, the homotopy analysis method (HAM) with different numbers of unknown convergence-control parameters has been used to derive accurate analytic solution for micropolar flow in a porous channel with mass injection. The possible optimal value of convergence-control parameter determined by minimizing the averaged residual error.

Findings
– The results obtained from HAM solution with two parameters are compared with numerical results and that obtained from HAM solution with only one parameter. The results show that this method gives an analytical solution with high order of accuracy with a few iterations. As shown in this paper, by minimizing the averaged residual error, the authors can get the possible optimal value of the convergence-control parameters which may give the fastest convergent series.

Practical implications
– The HAM with different numbers of unknown convergence-control parameters can be used to obtain analytic solutions for many problems in sciences and engineering.

Originality/value
– This paper fulfils an identified need to evaluate the accurate analytic solution (series solution) of practical problem.
Large eddy simulations of the influence of piston position on the swirling flow in a model two-stroke diesel engine
Authors: Obeidat Anas , Schnipper Teis , M. Ingvorsen Kristian , Haider Sajjad , Erik Meyer Knud , Mayer Stefan , H. Walther Jens 
Published: February 2014

Purpose
– The purpose of this paper is to study the effect of piston position on the in-cylinder swirling flow in a simplified model of a large two-stroke marine diesel engine.

Design/methodology/approach
– Large eddy simulations with four different models for the turbulent flow are used: a one-equation model, a dynamic one-equation model, a localized dynamic one-equation model and a mixed-scale model. Simulations are carried out for two different geometries corresponding to 100 and 50 percent open scavenge ports.

Findings
– It is found that the mean tangential profile inside the cylinder changes qualitatively with port closure from a Lamb-Oseen vortex profile to a solid body rotation, while the axial velocity changes from a wake-like profile to a jet-like profile. The numerical results are compared with particle image velocimetry measurements, and in general, the authors find a good agreement.

Research limitations/implications
– Considering the complexity of the real engine, the authors designed the engine model using the simplest configuration possible. The setup contains no moving parts, the combustion is neglected and the exhaust valve is discarded.

Originality/value
– Studying the flow in a simplified engine model, the setup allows studies of fundamental aspects of swirling flow in a uniform scavenged engine. Comparing the four turbulence models, the local dynamic one-equation model is found to give the best agreement with the experimental results.
Analytic and numeric solutions for stagnation-point flow with melting, thermal-diffusion and diffusion-thermo effects
Authors: Awais M. , Hayat T. , Mustafa M. , Bhattacharyya K. , Asif Farooq M. 
Published: February 2014

Purpose
– The aim of this work is to analyze the combined effects of melting, thermal-diffusion and diffusion-thermo on the flow of non-Newtonian fluid.

Design/methodology/approach
– An efficient approach namely homotopy analysis method is applied to compute the solution of the non-linear problem. Moreover, numerical results using MATLAB function bvp4c are also computed.

Findings
– Main findings are an increase in the melting process corresponding to increase in the velocity and the boundary layer thickness. However, surface heat and mass transfer decrease by increasing the values of melting parameter M.

Originality/value
– Combined effects of thermal-diffusion and diffusion-thermo are analyzed and the solutions are computed both numerically and analytically. Some deduced results can be obtained in a limiting sense.
Finite volume formulation of thermal lattice Boltzmann method
Authors: Zarghami Ahad , Ubertini Stefano , Succi Sauro 
Published: February 2014

Purpose
– The main purpose of this paper is to develop a novel thermal lattice Boltzmann method (LBM) based on finite volume (FV) formulation. Validation of the suggested formulation is performed by simulating plane Poiseuille, backward-facing step and flow over circular cylinder.

Design/methodology/approach
– For this purpose, a cell-centered scheme is used to discretize the convection operator and the double distribution function model is applied to describe the temperature field. To enhance stability, weighting factors are defined as flux correctors on a D2Q9 lattice.

Findings
– The introduction of pressure-temperature-dependent flux-control coefficients in the streaming operator, in conjunction with suitable boundary conditions, is shown to result in enhanced numerical stability of the scheme. In all cases, excellent agreement with the existing literature is found and shows that the presented method is a promising scheme in simulating thermo-hydrodynamic phenomena.

Originality/value
– A stable and accurate FV formulation of the thermal DDF-LBM is presented.
Taking off the L-plates: making training more effective
Authors: McCrae Bryan 
Published: February 2014

Purpose
– Emphasizes the importance of ensuring the right training and the right delivery.

Design/methodology/approach
– Draws on information gathered from the author's industry knowledge and experience.

Findings
– Argues that senior managers sometimes fail to understand how training needs to be different to meet the expectations and requirements of the different personalities in the organization.

Practical implications
– Explains how using flooding or drip-feed techniques will have different outcomes for different personalities and helps managers to identify which is more suitable.

Originality/value
– Deals with what happens once the training is finished: taking off the L-plates, so to speak.
It's not all perfection at Paradise Retail
Authors: Joshi Gowri , Pande Sharon 
Published: February 2014

Purpose
– Observes a number of human-resource management problems in the Indian hand-loom industry.

Design/methodology/approach
– Considers what gave rise to the problems and considers how they may be solved.

Findings
– Highlights the need to: attract talented designers with the right values and alignment to the company vision; refine training strategies to make them need-based and relevant; attract the right artisans; enhance productivity levels; standardize pricing and quality of products; and preserve art and craft to sustain the business.

Practical implications
– Presents a number of review questions. In what way can a firm like Paradise differ from other retailers? Define some realistic strategies to combat the problems of Paradise Retail. Which will be cost-effective? What can be gauged about the organizational culture of Paradise Retail? What are its values?

Originality/value
– Deals with some of the problems of poorly paid workers in a traditional industry in a developing country.
Stick-slip properties of single and multiple yarn pull-out in dry and softening treated polyester satin woven fabrics in boundary region
Authors: Bilisik Kadir , Yildirim Bekir 
Published: February 2014

Purpose
– The aim of this study was to understand the stick-slip properties of single and multiple yarn pull-out in dry and treated polyester satin woven fabric in boundary regions.

Design/methodology/approach
– Polyester satin pattern woven fabric was used to conduct the pull-out tests in order to examining the kinetic region of the force-displacement curve. Data generated from this research help the authors to obtain stick-slip force and accumulative retraction force.

Findings
– It was found that stick-slip force and accumulative retraction force depend on the number of pulled ends in the fabric, fabric sample dimensions and softening treatments. Stick-slip forces of polyester satin fabric in the multiple yarn pull-out test were higher than those of the single yarn pull-out test. Stick-slip force in single and multiple yarn pull-out tests in the dry polyester satin fabric was generally higher than those of the softening treated polyester satin fabric. In addition, the warp directional single and multiple yarn stick-slip and accumulative retraction forces in the dry and softening treated polyester fabrics were generally higher than those in the weft direction in the fabric edges due to fabric density. On the other hand, the amount of stick-slip force was related to the number of interlacement points in the fabric, whereas the amount of accumulative retraction force was related to fabric structural response.

Originality/value
– The mechanism of stick-slip and accumulative retraction force of dry-treated polyester satin pattern woven fabrics were explained. This research could be valuable for development of multifunctional fabrics in technical textiles and ballistic.