bluuebunny/crossref_metadata_2025_split huggingface dataset:
Market‐wide and sectoral integration
Authors: Antoniou Antonios , Pescetto Gioia M. , Stevens Ibrahim 
Published: February 2007

PurposeThe paper seeks to investigate conditional correlations and conditional volatility spillovers across international stock markets and industrial sectors from the perspective of the UK investor.Design/methodology/approachUtilizing the DCC model, the paper extracts the time‐varying conditional correlations between the UK, US and European stock markets and industrial sectors. It also uses the multivariate generalized autoregressive conditional heteroscedasticity (MVGARCH) to assess the transmission of volatility from the US and European stock markets to the UK.FindingsThe findings suggest that the UK equity market is more integrated with Europe, in terms of both aggregate stock markets and sectors. Correlations are higher during bear markets and tend to fall during periods of recovery. The sectoral analysis also provides interesting insights into the dynamics of volatility transmission across sectors.Research limitations/implicationsThe results suggest that the search for a better understanding of the dynamics of correlations between markets and sectors must continue.Practical implicationsThe investigation raises interesting questions for investors and regulators, as well as theoretical finance. For example, the finding that correlations increase in bear markets suggests that hedging strategies need to be revisited. The existence of sectoral idiosyncratic volatility offers further evidence that arbitrage may at times become more risky and thus limited.Originality/valueThe findings from analysing both market‐wide and sectoral integration raises the overarching question of whether studies of market integration and portfolio diversification, as well as the authorities overseeing financial stability, should be focusing on sectoral rather than market‐wide analysis.
Market frictions and stock return dynamics
Authors: Koutmos Gregory , Philippatos George C. 
Published: February 2007

PurposeThis paper seeks to test the hypothesis that stock returns in the Athens Stock Exchange (ASE) adjust asymmetrically to past information due to differential adjustment costs.Design/methodology/approachThe methodological approach is based on the asymmetric price adjustment model suggested by Koutmos. The model is estimated using daily sector stock return data for the ASE over the period 2 January 1992‐1 March 1999.FindingsThe empirical evidence suggests that prices respond asymmetrically to past information. Specifically, positive past returns are more persistent than negative past returns of an equal magnitude. This behavior is consistent with an asymmetric partial adjustment price model where news suggesting overpricing (negative returns) are incorporated faster into current market prices than news suggesting underpricing (positive returns).Research limitations/implicationsThis paper does not investigate the possibility that the asymmetric price adjustment is related to conditional heteroscedasticity in stock return. Further research in this area should prove very useful.Practical implicationsThe findings in this paper have important theoretical and practical implications. On the theoretical level the findings suggest that violations of the efficient markets hypothesis could be due to market frictions and costly adjustments. On the practical level, the asymmetric adjustment process could improve trading profits, especially those based on momentum strategies.Originality/valueThis paper presents new findings on the stock price dynamics of the ASE. These findings should be of interest to researchers, regulators and market participants.
Volatility and autocorrelation in European futures markets
Authors: Katsikas Epaminontas 
Published: February 2007

PurposeThis paper seeks to investigate the relationship between volatility and autocorrelation in major European stock index futures markets.Design/methodology/approachThe methodology is based on the exponential autoregressive model with conditionally heteroskedastic errors (EAR‐GARCH).FindingsThe evidence points to a negative relationship between volatility and autocorrelation. Specifically, autocorrelation is low during volatile periods and high during calm periods. This evidence is in agreement with LeBaron's findings for US stock market returns, suggesting that return dynamics are similar across asset categories.Research limitations/implicationsAn obvious limitation of this study is the lack of a theoretical justification for the observed relationships in futures markets, an area where future research should be directed.Practical implicationsThe observed relationships suggest that futures prices are non‐linearly predictable so that short‐term trading could produce abnormal returns.Originality/valueThe paper documents a negative relationship between volatility and autocorrelation in major European futures markets. This finding should be of interest to researchers and market participants.
International marketing behaviour amongst exporting firms
Authors: Rundh Bo 
Published: February 2007

PurposeThe increasing internationalisation and globalisation of business has forced many firms to reconsider what contributes to international success. The purpose of this paper is to study international marketing behaviour of firms within the exporting industry.Design/methodology/approachThe main study was conducted by a questionnaire within the Swedish manufacturing industry with respect to firms' exports to Europe. Data was then analysed in relation to four areas – export stimuli, factors affecting market entry, market barriers and need for changes in the marketing strategy.FindingsThe findings in this study indicate no general difference in the international marketing behaviour among small and large firms. The main factors affecting market entry relate to proximity due to local representation and a need for service in the local market. The main obstacles are administrative and technical impediment and a fierce competitive situation. Changing market conditions also have an impact on a need to change the marketing strategy. A conceptual model has been developed from findings in the study and by integrating internationalisation and marketing theory.Practical implicationsThe main implication is the importance of the fact that management has a commitment to and engagement in international activities especially when a firm is trying to establish a position in a local market. Another implication is that management needs to understand and meet service requirements in the local export market.Originality/valueThis paper fulfils an identified need for recognising the importance of learning more about international marketing behaviour among small and large exporting firms.
Relationship marketing in the subsidised arts: the key to a strategic marketing focus?
Authors: Conway Tony , Whitelock Jeryl 
Published: February 2007

PurposeThe purpose of this paper is to consider whether successful subsidised arts organisations are more likely to apply a relationship rather than transactional marketing approach to overcome the tendency of not‐for‐profit organisations generally, and subsidised arts organisations particularly, to use marketing for short‐term, tactical purposes.Design/methodology/approachResearch was undertaken to identify whether “successful” subsidised performing arts organisations were indeed more strategic in their focus, whether they had applied a relationship marketing approach and whether such an approach had been influential in the development of their “success”. Preliminary research led to the production of a conceptual framework that identifies major partnerships and specific stakeholder types that need to be considered by a subsidised performing arts organisation if an effective relationship marketing approach is to be developed. This was used as the basis for subsequent research involving a multiple case study approach studying two “successful” theatres and one “unsuccessful” theatre in depth. The strengths of relationship between the various key stakeholder roles and artistic directors within the three theatres were analysed.FindingsAlthough this research is limited to a case study analysis of three theatres, it does seem to provide evidence to suggest that building strong relationships with stakeholders other than end users can be advantageous to subsidised performing arts organisations.Practical implicationsIt is likely that this approach could be successful for the subsidised arts generally and indeed for all those organisations in the not‐for‐profit sector where those who pay do not necessarily receive the service.Originality/valueThis article provides a discussion on successful subsidised arts organisations.
Developing “new commons” between HRD research and practice
Authors: Mavin Sharon , Wilding Philip , Stalker Brenda , Simmonds David , Rees Chris , Winch Francine 
Published: February 2007

PurposeThe purpose of this paper is to report on a Forum for HRD initiative to proactively engage with HRD practitioners to develop “new commons” in the research‐practice nexus. Researchers joined a community of UK university HRD practitioners, negotiated a research project mapping the terrain of HRD practice, explored how research informed these are and identified future practice relevant HRD research.Design/methodology/approachThe research process is described as grounded in relationship building and collaboration. Researchers utilized qualitative research methods to develop small‐scale empirical research and explore HRD practice in four case study universities and the UK Leadership Foundation for Higher Education.FindingsFindings are presented in the following themes: organizational approaches to HRD; underpinning philosophies and interventions as research informed and contracting and evaluating external providers and identifies opportunities to develop new commons between theory and practice via collaborative partnerships between the Forum for HRD and UK university HRD practitioners.Research limitations/implicationsFuture empirical research which is practice relevant is necessary in the area of evaluation of non‐accredited HRD interventions, the challenges of developing leadership and management in UK HE and the HRD research‐practice nexus.Practical implicationsThe paper has valuable implications for bridging the space between HRD research and practice; it surfaces the practitioners' “lack of voice” within the profession and field of HRD and the lack of opportunities for the development of individual HRD practitioners.Originality/valueThe link between practice and theory within universities should be more developed, as HRD academics, a theoretical resource, are also “clients” of a University's HRD approach in practice. The research highlights how the reverse is the case, with the link between theory and practice under developed.
The resource‐based view and value: the customer‐based view of the firm
Authors: Clulow Val , Barry Carol , Gerstman Julie 
Published: February 2007

PurposeThe resource‐based view (RBV) explores the role of key resources, identified as intangible assets and capabilities, in creating competitive advantage and superior performance. To a great extent the conceptual analysis and empirical research within the RBV has focused on the firm's perspective of key resources and the value to the firm of these key resources. The other perspective on key resources is to explore the value they provide to the customer. The question of interest here is whether key resources that hold value for the firm also hold value for the customer.Design/methodology/approachA depth interview was trialled as an appropriate methodology by which to begin to explore the customer perspective of key resources.FindingsThis trial suggests that further investigation of the customer perspective will provide a clearer view of customers' assessment of the firm's valuable resources. The trial interview with a key customer indicates there are subtle differences in the ranking of valued skills and capabilities between producers and customers that if verified in further trials, have potential to better focus firms on key resources valued by customers.Originality/valueThis trial provides insight into the process of identification of the factors that customers regard as the firm's valuable resources and how this influences their choice of firm. Differences in ranking of key resources by customers compared to those of producers could lead to re‐evaluation of skills and experience background for staff recruitment purposes, and training programs to better reflect customer valuation preferences.
Adaptive fuzzy logic speed‐sensorless control improvement of induction motor for standstill and low speed operations
Authors: Kouzi Katia , Saïd Naït‐Saïd Mohamed 
Published: February 2007

PurposeThis work proposes a method to improve the estimation performance at standstill and low speed operations of an adaptive fuzzy logic speed‐sensorless field‐oriented control of an induction motor.Design/methodology/approachFirst, the speed estimation algorithm presented in Tursiniet al., which it has been designed to consider constant speed operation, is modified in an attempt to reduce the estimation error. Second, the speed regulation by fuzzy logic controller (FLC) with fuzzy adapted gains (FAG) is proposed for speed regulation. The main features of the proposed algorithm are investigated and compared with those of the algorithm of (Tursini) considering different dynamic operating conditions.FindingsSimulation results clearly show the performance of the proposed algorithm.Originality/valueThe proposed scheme is recommended for applications requiring robust speed control and field‐orientation even in the presence of some key parameter deviations.
Dynamic modeling of induction motor taking into account thermal stresses
Authors: Laïssaoui S. , Mékidèche M.R. , Sedira D. , Ladjimi A. 
Published: February 2007

PurposeThe paper aims to estimate the thermal impact of temperature dependency of material characteristics on induction machines, for which a coupled electromagnetic thermal analysis is carried out.Design/methodology/approachBoth electromagnetic and thermal fields are calculated using a weak coupled finite element analysis algorithm. The electromagnetic behavior of the induction motor is obtained by coupling the field equations to the voltage equations of the windings. The nonlinearity due to the saturation of the iron core and the temperature dependency of the electrical conductivity are taken into account. When the heat sources are evaluated the temperature distribution in the induction motor is obtained. In order to improve the accuracy of the formulation, thermal contact resistances, external and internal convection are considered.FindingsThe results presented in this paper prove that the temperature dependency of electric material characteristics must be considered, to accurately simulate the behavior of the induction motors during the design stage.Originality/valueThe presented field‐circuit coupling completes the two‐dimensional finite element analysis by introducing the possibility to take into account the three‐dimensional part of the motor (Rtête, Ltête). Another advantage is the ability to include voltage sources. Consequently, a realistic approach for the electromagnetic and thermal behavior of the electrical machine is achieved.
Fast dynamic macro element and finite element 2D coupled model for an electromagnetic launcher study
Authors: Belli Boulassel Zoubida , Rachid Mékidèche Mohamed 
Published: February 2007

PurposeThe modelling of the electromagnetic devices with moving objects such as launchers, electrical machines and actuators, necessitates considering the motion. This paper aims to examine this subject.Design/methodology/approachThis task can be performed by introducing the velocity term in the electromagnetic equation. However, the application of this method leads to a non‐symmetrical finite element matrix. This numerical problem can be avoided either by the finite element meshing domain every displacement step or by using special techniques coupled to the finite element method like the moving bound, sliding surface and macro element (ME). The ME solution, based on an analytical model in the air‐gap of the devices, is more solicited for its low cost and accuracy by comparison with the other one. This technique keeps unchanged the finite element topology during the simulation, where the motion is taken into account by modification of the ME formula's every displacement.FindingsThis paper sought to present a new formula of the ME which is called dynamic ME. This new formula keeps unchanged the finite element topology and the terms of the analytical stiffness matrix too during the movement simulation.Research limitations/implicationsThe developed model is limited to analyzing the 2D devices with moving objects in linear or non‐linear case with saturation of the magnetic circuits. Extending the model to consider the 3D effects is the perspective of this work.Originality/valueThe developed formula is more economical than the classical one.
On the comparison between different space vector PWM strategies implemented in FSTPI‐fed induction motor drives
Authors: El Badsi Bassem , Guermazi Abdessattar , Masmoudi Ahmed 
Published: February 2007

PurposeThe paper aims to discuss the comparison of the performance of four space‐vector pulse‐width modulation (SVPWM) strategies dedicated to four‐switch three‐phase inverters (FSTPI).Design/methodology/approachThe comparison is based on three comparison criteria: the total harmonic distortion, the switching loss factor, and the quality factor. The comparison is extended to the FFT of the phase currents and to the analysis of the ripples of the electromagnetic torque of the induction motor.FindingsIt has been clearly shown that the basic SVPWM strategy of the conventional six‐switch three‐phase inverter (SSTPI) offers better performance than those of the four FSTPI‐SVPWM strategies. This said, it has been found that the performance of two among the four FSTPI‐SVPWM strategies tend to those of the SSTPI‐SVPWM basic strategy, especially in high switching frequencies.Research limitations/implicationsThe work should be extended by an experimental validation of the simulation results.Practical implicationsThe established results open up crucial benefits from the point of view of cost‐effectiveness and volume‐compactness improvements of induction motor drives especially in large‐scale industries such as the automotive one where electric and hybrid propulsion systems are currently regarded as an interesting alternative to substitute or to assist the thermal propulsion systems.Originality/valueThe implementation in the FSTPI feeding an induction motor of SVPWM strategies exhibiting acceptable performance, which tend to those yielded by the SSTPI‐SVPWM basic strategy especially in high switching frequencies, is extended here.
A comprehensive analysis of the inverter switching frequency in Takahashi DTC strategy
Authors: Ben Salem Fatma , Masmoudi Ahmed 
Published: February 2007

PurposeThis paper aims to discuss a comprehensive analysis of the effects of torque and flux hysteresis bands on the inverter average switching frequency considering an induction machine drive under the control of the Takahashi DTC strategy.Design/methodology/approachThe analysis of the effects of torque and flux hysteresis bands on the inverter average switching frequency is carried out taking into account the speed range and the sampling period.FindingsIt has been found that the inverter average switching frequency could be more or less taken down according to the speed range and the sampling period by selecting suitable flux and torque hysteresis bands.Research limitations/implicationsThis work should be extended by an experimental validation of the established results.Practical implicationsThe reduction of the inverter switching frequency is of great importance in direct torque controlled induction motor drive as far as it leads to a decrease of the torque ripple and an increase of the efficiency.Originality/valueFor given torque and flux hysteresis bands, the inverter average switching frequency presents nonlinear shape. Given the fact that the flux switching frequency is a linear function of the speed, one can conclude that the nonlinearity of the inverter average switching frequency is due to the torque switching frequency. This statement has been proven by the introduction of the so‐called focal speeds for the torque switching frequency turns to be null.
RFOC implementation in four‐switch three phase inverter‐fed induction motor drive
Authors: Guermazi Abdessattar , El Badsi Bassem , Masmoudi Mourad , Masmoudi Ahmed 
Published: February 2007

PurposeThis paper seeks to discuss the implementation of the rotor flux oriented control (RFOC) in a four‐switch three‐phase inverter (FSTPI)‐fed induction motor drive.Design/methodology/approachThe implementation is achieved considering a current regulation of the FSTPI. Such a regulation is done thanks to bang‐bang regulators. As far as the FSTPI is fed by a battery pack, the paper considers an electrical equivalent circuit of such a power supply.FindingsSimulation works, carried out considering the case of an ideal model of the battery pack and the case where the electrical equivalent circuit of the battery pack is taken into account, have shown that the drive dynamic performance are practically the same. Furthermore, and in order to highlight the performance of the induction motor fed by a FSTPI, these are compared with those obtained with the induction motor fed by a conventional six‐switch three‐phase inverter (SSTPI), considering both models of the battery pack. It has been found that the drive offers almost the same dynamic and steady‐state performance.Research limitations/implicationsThe work should be extended by an experimental validation of the simulation results.Practical implicationsThe established results open up crucial benefits from the point of view of cost‐effectiveness and volume‐compactness improvements of induction motor drives especially in large‐scale industries such as the automotive one where electric and hybrid propulsion systems are currently regarded as an interesting alternative to substitute or to assist the thermal propulsion systems.Originality/valueThe implementation of the RFOC in FSTPI‐fed induction motor drives is feasible and exhibits almost the same performance as those obtained by conventional SSTPI‐fed induction motor drives under the same control strategies.