Search results for: corporate bond portfolio

Authors: Caroline Alice Rouget-Virbel, F. Dean Toste

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Heterobimetallic systems have been precedented in a wide array of bioinorganic and heterogeneous catalytic settings, in which cooperative bond-breaking and bond-forming events mediated by neighboring metal sites have been proposed but are challenging to study and characterize. Heterodinuclear transition-metal catalysis has recently emerged as a promising strategy to tackle challenging chemical transformations, including C−C and C−X couplings as well as small molecule activation. It has been shown that these reactions can traverse nontraditional mechanisms, reactivities, and selectivities when homo- and heterobimetallic systems are employed. Moreover, stoichiometric studies of transmetallation from gold complexes have demonstrated that R transfer from PPh3–Au(I)R to Cp- and Cp*-ligated group 8/9 complexes is a viable elementary step. With these considerations in mind, we hypothesized that heterobimetallic Au–M complexes could serve as a viable and tunable catalyst platform to explore mechanisms and reactivity. In this work, heterobimetallic complexes containing Au(I) centers tethered to Ir(III) and Rh(III) piano stool moieties were synthesized and characterized. Preliminary application of these complexes to a catalytic allylic arylation reaction demonstrates bimetallic cooperativity relative to their monomeric metal components.

Keywords: heterobimetallic, catalysis, gold, rhodium

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Authors: Mazin Mohammed S. Sarhan

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This study presents the performance of concrete beams reinforced with steel plates as a technique of reinforcement. Three reinforced concrete beams with the dimensions of 200 mm x 300 mm x 4000 mm (width x height x length, respectively) were experimentally investigated under flexural loading. The deformed steel bars were used as the main reinforcement for the first beam. A steel plate placed horizontally was used as the main reinforcement for the second beam. The bond between the steel plate and the surrounding concrete was enhanced by using steel bolts (with a diameter of 20 mm and length of 100 mm) welded to the steel plate at a regular distance of 200 mm. A pair of steel plates placed vertically was used as the main reinforcement for the third beam. The bond between the pair steel plates and the surrounding concrete was enhanced by using 4 equal steel angles (with the dimensions of 75 mm x 75 mm and the thickness of 8 mm) for each vertical steel plate. Two steel angles were welded at each end of the steel plate. The outcomes revealed that the bending stiffness of the beams reinforced with steel plates was higher than that reinforced with deformed steel bars. Also, the flexural ductile behavior of the second beam was much higher than the rest beams.

Keywords: concrete beam, deflection, ductility, plate

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Authors: Mehrdad Karimi, Farshad Negintaji

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This study has examined the appearance of identity in the urban landscape and its effects on the natural factors. For this purpose, the components of place identity, emotional attachment, place dependence and social bond which totally constitute place attachment, measures it in three domains of cognitive (place identity), affective (emotional attachment) and behavioral (place dependence and social bond). In order to measure the natural factors, three components of the absolute elements, living entities, natural elements have been measured. The study is descriptive and the statistical population has been Yasouj, a city in Iran. To analyze the data the SPSS software has been used. The results in two level of descriptive and inferential statistics have been investigated. In the inferential statistics, Pearson correlation coefficient test has been used to evaluate the research hypotheses. In this study, the variable of identity is in high level and the natural factors are also in high level. These results indicate a positive relationship between place identity and natural factors. Development of environment and reaching the quality level of the personality or identity will develop the individual and society.

Keywords: identity, place identity, landscape, urban landscape, landscaping

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Authors: M. Benhaliliba, A. Ben Ahmed, C.E. Benouis, A.Ayeshamariam

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The properties of nonlinear optical NLOs are examined, and the results confirm the 2.19 eV HOMO-LUMO mismatch. In the Al-Pc cluster, certain functional bond lengths and bond angles have been observed. The Quantum chemical method (DFT and TD-DFT) and Vibrational spectra properties of AlPc are studied. X-ray pattern reveals the crystalline structure along with the (242) orientation of the AlPc organic thin layer. UV-Vis shows the frequency selective behavior of the device. The absorbance of such layer exhibits a high value within the UV range and two consecutive peaks within visible range. Spin coating is used to make an organic diode based on the Aluminium-phthalocynanine (AlPc-Cl) molecule. Under dark and light conditions, electrical characterization of Ag/AlPc/Si/Au is obtained. The diode's high rectifying capability (about 1x104) is subsequently discovered. While the height barrier is constant and saturation current is greatly reliant on light, the ideality factor of such a diode increases to 6.9 which confirms the non-ideality of such a device. The Cheung-Cheung technique is employed to further the investigation and gain additional data such as series resistance and barrier height.

Keywords: AlPc-Cl organic material, nonlinear optic, optical filter, diode

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Authors: Weber-Lewerenz Bianca

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Digitization is developing fast and has become a powerful tool for digital planning, construction, and operations. Its transformation bears high potentials for companies, is critical for success, and thus, requires responsible handling. This study provides an assessment of calls made in the sustainable development goals by the United Nations (SDGs), White Papers on AI by international institutions, EU-Commission and German Government requesting for the consideration and protection of values and fundamental rights, the careful demarcation between machine (artificial) and human intelligence and the careful use of such technologies. The study discusses digitization and the impacts of artificial intelligence (AI) in construction engineering from an ethical perspective by generating data via conducting case studies and interviewing experts as part of the qualitative method. This research evaluates critically opportunities and risks revolving around corporate digital responsibility (CDR) in the construction industry. To the author's knowledge, no study has set out to investigate how CDR in construction could be conceptualized, especially in relation to the digitization and AI, to mitigate digital transformation both in large, medium-sized, and small companies. No study addressed the key research question: Where can CDR be allocated, how shall its adequate ethical framework be designed to support digital innovations in order to make full use of the potentials of digitization and AI? Now is the right timing for constructive approaches and apply ethics-by-design in order to develop and implement a safe and efficient AI. This represents the first study in construction engineering applying a holistic, interdisciplinary, inclusive approach to provide guidelines for orientation, examine benefits of AI and define ethical principles as the key driver for success, resources-cost-time efficiency, and sustainability using digital technologies and AI in construction engineering to enhance digital transformation. Innovative corporate organizations starting new business models are more likely to succeed than those dominated by conservative, traditional attitudes.

Keywords: construction engineering, digitization, digital transformation, artificial intelligence, ethics, corporate digital responsibility, digital innovation

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Authors: Seba Quqandi

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This study investigates the bond that people form using their assistive devices and the tactics applied during the product design process to help improve the user experience leading to a long-term product relationship. The aim is to develop a conceptual framework with which to describe and analyze the bond people form with their assistive devices and to integrate human emotions as a factor during the development of the product design process. The focus will be on the assistive technology market, namely, the Aid-For-Daily-Living market for situational impairments, to increase the quality of wellbeing. Findings will help us better understand the real issues of the product experience concerning people’s interaction throughout the product performance, establish awareness of the emotional effects in the daily interaction that fosters the product attachment, and help product developers and future designers create a connection between users and their assistive devices. The research concludes by discussing the implications of these findings for professionals and academics in the form of experiments in order to identify new areas that can stimulate new /or developed design directions.

Keywords: experience design, interaction design, emotion, design psychology, assistive tools, customization, userentred design

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Authors: Glyn Atwal, Douglas Bryson

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The rapid expansion of a consumer class in India has also coincided with an increasing awareness of social and environmental issues. The overall objective of this study explores to what extent Corporate Social Responsibility (CSR) can lead to luxury brand avoidance within an Indian context. In-depth interviews were conducted with luxury consumers in New Delhi. The demographic breakdown of those interviewed was 16 males and 9 females, aged between 21 and 44. Antecedents of brand avoidance could be sorted according to two main categories. The first category was consumer dissatisfaction due to poor product or service performance. Customer service, particularly within the hospitality sector, was identified as a defining source of brand avoidance. The second category was negative stereotypes of brand users. A salient finding was that no single participant explicitly identified CSR as a source of brand avoidance. However, the interviews revealed that luxury consumers are in fact concerned about CSR issues but assume that international luxury brands have a positive record on CSR performance. Interestingly, participants placed greater emphasis on the broader interpretation of ‘corporate reputation’ rather than specific social or environmental issues to determine the CSR performance of a luxury brand. The findings reported in this exploratory study suggest that Indian luxury consumers do value the overall CSR performance of luxury brands expressed as a brand responsibility or brand reputation, and this is a potential source of brand avoidance. International luxury brands need, therefore, consider developing but also communicating a positive CSR strategy in order to reduce the risk of customers forming negative opinions about the brand.

Keywords: brand avoidance, CSR, luxury

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Authors: Hongmin Chun

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This paper examines corporate cash holdings and their effect on the cost of equity capital. In addition, this study examines the potentially different effects when the firm belongs to chaebol and non-chaebol groups. Chaebol is a South Korean form of business conglomerate. Chaebol is typically global multinationals and owns numerous international enterprises, controlled by a chairman with power over all the operations. The overall empirical result suggests that higher cash holdings are a risk increasing factor which holds for the chaebol group of firms. This result is valid in a battery of robustness tests and 2SLS regressions. In Korea, higher cash holdings represent a risk premium factor that is closely related to the overinvestment and agency problems between managers and shareholders.

Keywords: cash holdings, implied cost of equity capital, chaebol, agency problem

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Authors: Niklas Bondesson

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Purpose: This paper attempts to examine how different facets of attitudinal brand loyalty are determined by different brand image elements in business markets. Design/Methodology/Approach: Statistical analysis is employed to data from a web survey, covering 226 professional packaging buyers in eight countries. Findings: The results reveal that different brand loyalty facets have different antecedents. Affective brand loyalties (or loyalty 'feelings') are mainly driven by customer associations to service relationships, whereas customers’ loyalty intentions (to purchase and recommend a brand) are triggered by associations to the general reputation of the company. The findings also indicate that willingness to pay a price premium is a distinct form of loyalty, with unique determinants. Research implications: Theoretically, the paper suggests that corporate B2B brand loyalty needs to be conceptualised with more refinement than has been done in extant B2B branding work. Methodologically, the paper highlights that single-item approaches can be fruitful when measuring B2B brand loyalty, and that multi-item scales can conceal important nuances in terms of understanding why customers are loyal. Practical implications: The idea of a loyalty 'silver metric' is an attractive idea, but this study indicates that firms who rely too much on one single type of brand loyalty risk to miss important building blocks. Originality/Value/Contribution: The major contribution is a more multi-faceted conceptualisation, and measurement, of corporate B2B brand loyalty and its brand image determinants than extant work has provided.

Keywords: brand equity, business-to-business branding, industrial marketing, buying behaviour

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Authors: Haider Al-Zubaidy, Xiao-Ling Zhao, Riadh Al-Mahaidi

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In recent years, the technique adhesively-bonded fibre reinforced polymer (FRP) composites has found its way into civil engineering applications and it has attracted a widespread attention as a viable alternative strategy for the retrofitting of civil infrastructure such as bridges and buildings. When adopting this method, adhesive has a significant role and controls the general performance and degree of enhancement of the strengthened and/or upgraded structures. This is because the ultimate member strength is highly affected by the failure mode which is considerably dependent on the utilised adhesive. This paper concerns with experimental investigations on the effect of the adhesive used on the bond between CFRP patch and steel plate under medium impact tensile loading. Experiment were conducted using double strap joints and these samples were prepared using two different types of adhesives, Araldite 420 and MBrace saturant. Drop mass rig was used to carry out dynamic tests at impact speeds of 3.35, 4.43 and m/s while quasi-static tests were implemented at 2mm/min using Instrone machine. In this test program, ultimate load-carrying capacity and failure modes were examined for all loading speeds. For both static and dynamic tests, the adhesive type has a significant effect on ultimate joint strength. It was found that the double strap joints prepared using Araldite 420 showed higher strength than those prepared utilising MBrace saturant adhesive. Failure mechanism for joints prepared using Araldite 420 is completely different from those samples prepared utilising MBrace saturant. CFRP failure is the most common failure pattern for joints with Araldite 420, whereas the dominant failure for joints with MBrace saturant adhesive is adhesive failure.

Keywords: CFRP/steel double strap joints, adhesives of different ductility, dynamic tensile loading, bond between CFRP and steel

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Authors: Wanda Luen-Wun Siu, Xiaowen Zhang

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This paper offered the primary methodical proof on how CSR reporting related to enterprise earnings in listed firms in China in light of most evidence focusing on cross-sectional data or data in a short span of time. Using full economic and business panel data on China’s publicly listed enterprise from 2006 to 2020 over two decades in the China Stock Market and Accounting Research database, we found initial evidence of significant direct relations between CSR reporting and firm corporate performance in both state-owned and privately owned firms over this period, supporting the stakeholder theory. Results also revealed that state-owned enterprises performed as well as private enterprises in the current period. But private enterprises performed better than state-owned enterprises in the subsequent years. Moreover, the release of social responsibility reports had a more significant impact on the financial performance of state-owned and private enterprises in the current period than in the subsequent periods. Specifically, CSR release was not significantly associated with the financial performance of state-owned enterprises on the lag of the first, second, and third periods. But it had an impact on the lag of the first, second, and third periods among private enterprises. Such findings suggested that CSR reporting helped improve the corporate financial performance of state-owned and private enterprises in the current period, but this kind of effect was more significant among private enterprises in the lag periods.

Keywords: China’s listed firms, CSR reporting, financial performance, panel analysis

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Authors: Nor Anisa

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This paper aims to describe the use of conservation and rehabilitation of Mangrove forests as an alternative area in protecting the natural environment and ecosystems and ecology, community education and innovation of sustainable industrial development such as oil companies, gas and coal. The existence of globalization encourages energy needs such as gas, diesel and coal as an unaffected resource which is a basic need for human life while environmental degradation and natural phenomena continue to occur in Indonesia, especially global warming, sea water pollution, extinction of animal steps. The phenomenon or damage to nature in Indonesia is caused by a population explosion in Indonesia that causes unemployment, the land where the residence will disappear so that this will encourage the exploitation of nature and the environment. Therefore, Pertamina as a state-owned oil and gas company carries out its social responsibility efforts, namely to carry out conservation and rehabilitation and management of Mangrove fruit seeds which will provide an educational effect on the benefits of Mangrove seed maintenance. The method used in this study is a qualitative method and secondary data retrieval techniques where data is taken based on Pertamina activity journals and websites that can be accounted for. So the conclusion of this paper is: the benefits and function of conservation of mangrove forests in Indonesia physically, chemically, biologically and socially and economically and can provide innovation to the CSR (Corporate Social Responsibility) of the company in continuing social responsibility in the scope of environmental conservation and social education.

Keywords: mangrove, environmental damage, conservation and rehabilitation, innovation of corporate social responsibility

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Authors: Prashant Motwani, Arghadeep Laskar

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The transfer of prestress force from prestressing strands to the surrounding concrete is dependent on the bond between the two materials. It is essential to understand the actual bond stress distribution along the transfer length to determine the transfer zone in pre-tensioned concrete. A 3-D nonlinear finite element model has been developed to simulate the transfer of prestress force from steel to concrete in pre-tensioned bridge girders through thermal strain technique using commercially available package ABAQUS. Full-scale bridge girder has been analyzed with thermal strain approach where the damage plasticity constitutive model has been used to model concrete. Parameters such as concrete strain, effective prestress, upward camber and longitudinal stress have been compared with analytical results. The discrepancy between numerical and analytical values was within 20%. The paper also presents a convergence study on mesh density and aspect ratio of the elements to perform the finite element study.

Keywords: aspect ratio, bridge girder, centre of gravity of strand, mesh density, finite element model, pretensioned bridge girder

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Authors: Rizka Ardhiyana, Liesbetini Haditjaroko, Sri Mulijani, Reki Ashadi Wicaksono, Raafqi Ranasasmita

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Designing a sensitive, specific and easy to use method to detect pork contamination in the food industry remains a major challenge. In the current study, we developed a sensitive thiol-bond AuNP-Probe biosensor that will change color when detecting pork DNA in the Cytochrome B region. The interaction between the biosensors and DNA sample is measured by spectrophotometer at 540 nm. The biosensor is made by reducing gold with trisodium citrate to produce gold nanoparticle with 39.05 nm diameter. The AuNP-Probe biosensor (gold nanoprobe) achieved 16.04 ng DNA/µl limit of detection and 53.48 ng DNA/µl limit of quantification. The linearity (R2) between color absorbance changes and DNA concentration is 0.9916. The biosensor has a good specificty as it does not cross-react with DNA of chicken and beef. To verify specificity towards the target sequence, PCR was tested to the target sequence and reacted to the PCR product with the biosensor. The PCR DNA isolate resulted in a 2.7 fold higher absorbance compared to pork-DNA isolate alone (without PCR). The sensitivity and specificity of the method show the promising application of the thiol-bond AuNP biosensor in pork-detection.

Keywords: biosensor, DNA probe, gold nanoparticle (AuNP), pork meat, qPCR

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Authors: Lubica Hikkerova, Jean-Michel Sahut

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Environmental protection remains a global challenge but, since 2012, there has been a progressive decline in corporate engagement in environmental protection issues. This study seeks to investigate the role of financial capacity and governance in improving the level of environmental engagement of companies. The regression technique is applied to data on 351 large European companies from the ASSET4-ESG database for the 2007-2015 period. Firstly, the results show that the companies in the sample are fairly engaged in environmental protection, with a strong dispersion representing nearly four times the average. This means that the companies in the sample do not share the same level of engagement in matters of environmental protection, some being more committed than others. Secondly, the results reveal that the financial capacity of the company, as assessed through its indicators, has a significant effect on its level of environmental protection engagement in the present sample. This effect is more positive the higher the profits the company makes, and more negative the more heavily indebted or, the higher the rates of dividends it pays per share. Lastly, the results also show that a better quality of governance plays an important role in the decision to undertake actions leading to environmental protection. More specifically, the degree of management implication in the running of the business, the respect of the rights of the shareholders, the effectiveness of the control exerted by the board of directors, and, to a lesser extent, the independence of the audit committee, are variables which have a positive and significant influence on the level of environmental engagement of companies.

Keywords: financial capacity, corporate governance, environmental engagement, stakeholder theory, theory of organizational legitimacy, theory of resources and capabilities

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Authors: Dian Andari

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In several decades, Islamic Banks (IBs) has proliferated internationally. To ensure IBs’ accountability to all stakeholders, a governance system is established. Similar to conventional banks (CBs), IBs create corporate governance system. In addition, IBs have Shari’ah Supervisory Board (SSB) as part of Shari’ah governance formed purposively to ensure IBs innovative operations comply to the Shari’ah. Thus, all boards in IBs must actively participate in good corporate as well as Shari’ah governance. The research will analyze SSB’s performance and quality of disclosure by observing 10 IBs annual report from 2011 to 2015 in Gulf countries. The content analysis will be done to see the relationship between SSB’s performance and quality of disclosure in the annual report. The analysis found that event all aspects of disclosure have been meet, financial disclosure still dominates the annual report. This can indicate that the SSB’s focus is on the interest of capital providers.

Keywords: Islamic banks, Shari'ah supervisory board, accountability, quality of disclosure

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Authors: Folorunso Omoniyi, Peter Olubambi, Rotimi Sadiku

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Thermal barrier coating (TBC) system is used in both aero engines and other gas turbines to offer oxidation protection to superalloy substrate component. In the present work, it shows the ability of a new fabrication technique to develop rapidly new coating composition and microstructure. The compact powders were prepared by Powder Metallurgy method involving powder mixing and the bond coat was synthesized through the application of Spark Plasma Sintering (SPS) at 10500C to produce a fully dense (97%) NiCrAl bulk samples. The influence of sintering temperature on the hardness of NiCrAl, done by Micro Vickers hardness tester, was investigated. And Oxidation test was carried out at 1100oC for 20h, 40h, and 100h. The resulting coat was characterized with optical microscopy, scanning electron microscopy (SEM), energy dispersive x-ray analysis (EDAX) and x-ray diffraction (XRD). Micro XRD analysis after the oxidation test revealed the formation of protective oxides and non-protective oxides.

Keywords: high-temperature oxidation, powder metallurgy, spark plasma sintering, thermal barrier coating

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Authors: Zeynep Genel

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The concept of reputation in corporate development comes to the fore as one of the most frequently discussed topics in recent years. Many organizations, which make worldwide investments, make effort in order to adapt themselves to the topics within the scope of this concept and to promote the name of the organization through the values that might become prominent. The stakeholder groups are considered as the most important actors determining the reputation. Even, the effect of stakeholders is not evaluated as a direct factor; it is signed as indirect effects of their perception are a very strong on ultimate reputation. It is foreseen that the parallelism between the projected reputation and the perceived c reputation, which is established as a result of communication experiences perceived by the stakeholders, has an important effect on achieving these objectives. In assessing the efficiency of these efforts, the opinions of stakeholders are widely utilized. In other words, the projected reputation, in which the positive and/or negative reflections of corporate communication play effective role, is measured through how the stakeholders perceptively position the organization. From this perspective, it is thought that the interaction and cooperation of corporate communication professionals with different stakeholder groups during the reputation positioning efforts play significant role in achieving the targeted reputation or in sustainability of this value. The governmental stakeholders having intense communication with mass stakeholder groups are within the most effective stakeholder groups of organization. The most important reason of this is that the organizations, regarding which the governmental stakeholders have positive perception, inspire more confidence to the mass stakeholders. At this point, the organizations carrying out joint projects with governmental stakeholders in parallel with sustainable communication approach come to the fore as the organizations having strong reputation, whereas the reputation of organizations, which fall behind in this regard or which cannot establish the efficiency from this aspect, is thought to be perceived as weak. Similarly, the social responsibility campaigns, in which the governmental stakeholders are involved and which play efficient role in strengthening the reputation, are thought to draw more attention. From this perspective, the role and effect of governmental stakeholders on the reputation positioning is discussed in this study. In parallel with this objective, it is aimed to reveal perspectives of seven governmental stakeholders towards the cooperation in reputation positioning. The sample group representing the governmental stakeholders is examined under the lights of results obtained from in-depth interviews with the executives of different ministries. It is asserted that this study, which aims to express the importance of stakeholder participation in corporate reputation positioning especially in Turkey and the effective role of governmental stakeholders in strong reputation, might provide a new perspective on measuring the corporate reputation, as well as establishing an important source to contribute to the studies in both academic and practical domains.

Keywords: collaborative communications, reputation management, stakeholder engagement, ultimate reputation

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Authors: Hannan Al-Qanai, Haitham Mustafa, Rajeswaran Sivasankar

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Kuwait Integrated Petroleum Industries Company (KIPIC, Company), established in 2016 as a subsidiary to Kuwait Petroleum Corporation (KPC), is responsible for operating and managing the largest grassroots integrated complex for refining, petrochemicals manufacture businesses, and liquefied natural gas import facilities at Al-Zour, Kuwait. KIPIC and its Contractors/sub-contractors employ over 69,000 staff in its current projects at Al-Zour during peak construction activity. KIPIC holds a unique responsibility to the society, which includes all stakeholders, and demonstrates its social commitment in developing an integrated environment & social management system (ESMS) and ensuring sustainability. This paper mainly demonstrates the knowledge on corporate branding from a corporate social responsibility (CSR) perspective and presents the achievements and best practices of KIPIC in the field of CSR and the challenges faced in handling social issues. Moreover, the study is based on qualitative data abstracted from KIPIC Health, Safety, Security & Environment Management System (HSSE MS) procedures, audit reports, the outcome of counseling sessions, national and international laws and regulations, and International Guidelines on Environment and Social Management System (ESMS). KIPIC has committed to caring for the environmental concerns and acting on social as they do on profits and economic growth. The main findings of this paper are that the successful implementation and operationalization of CSR within an organization depends on a simple but stringent process with both top-down and bottom-up commitment.

Keywords: welfare, corporate social responsibility, social management, sustainability

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Authors: Jian Wu

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Since a few years, some French companies have integrated CRS (corporate social responsibility) criteria in their variable remuneration plans to ‘restore a good working atmosphere’ and ‘preserve the natural environment’. These CSR criteria are based on concerns on environment protection, social aspects, and corporate governance. In June 2012, a report on this practice has been made jointly by ORSE (which means Observatory on CSR in French) and PricewaterhouseCoopers. Facing this initiative from the business world, we need to examine whether it has a real economic utility. We adopt a theoretical approach for our study. First, we examine the debate between the ‘orthodox’ point of view in economics and the CSR school of thought. The classical economic model asserts that in a capitalist economy, exists a certain ‘invisible hand’ which helps to resolve all problems. When companies seek to maximize their profits, they are also fulfilling, de facto, their duties towards society. As a result, the only social responsibility that firms should have is profit-searching while respecting the minimum legal requirement. However, the CSR school considers that, as long as the economy system is not perfect, there is no ‘invisible hand’ which can arrange all in a good order. This means that we cannot count on any ‘divine force’ which makes corporations responsible regarding to society. Something more needs to be done in addition to firms’ economic and legal obligations. Then, we reply on some financial theories and empirical evident to examine the sound foundation of CSR. Three theories developed in corporate governance can be used. Stakeholder theory tells us that corporations owe a duty to all of their stakeholders including stockholders, employees, clients, suppliers, government, environment, and society. Social contract theory tells us that there are some tacit ‘social contracts’ between a company and society itself. A firm has to respect these contracts if it does not want to be punished in the form of fine, resource constraints, or bad reputation. Legitime theory tells us that corporations have to ‘legitimize’ their actions toward society if they want to continue to operate in good conditions. As regards empirical results, we present a literature review on the relationship between the CSR performance and the financial performance of a firm. We note that, due to difficulties in defining these performances, this relationship remains still ambiguous despite numerous research works realized in the field. Finally, we are curious to know whether the integration of CSR criteria in variable remuneration plans – which is practiced so far in big companies – should be extended to other ones. After investigation, we note that two groups of firms have the greatest need. The first one involves industrial sectors whose activities have a direct impact on the environment, such as petroleum and transport companies. The second one involves companies which are under pressures in terms of return to deal with international competition.

Keywords: corporate social responsibility, corporate governance, variable remuneration, stakeholder theory

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Authors: Csaba Kalman

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In spite of the existence of numerous second language (L2) motivation theories, the teacher’s role in motivating learners has remained an under-researched niche to this day. If we narrow down our focus on the teacher’s role on motivating adult learners of English in an English as a Foreign Language (EFL) context in corporate environments, empirical research is practically non-existent. This study fills the above research niche by exploring the most motivating aspects of the teacher’s personality, behaviour, and teaching practices that affect adult learners’ L2 motivation in corporate contexts in Hungary. The study was conducted in a wide range of industries in 18 organisations that employ over 250 people in Hungary. In order to triangulate the research, 21 human resources managers, 18 language teachers, and 466 adult learners of English were involved in the investigation by participating in interview studies, and quantitative questionnaire studies that measured ten scales related to the teacher’s role, as well as two criterion measure scales of intrinsic and extrinsic motivation. The qualitative data were analysed using a template organising style, while descriptive, inferential statistics, as well as multivariate statistical techniques, such as correlation and regression analyses, were used for analysing the quantitative data. The results showed that certain aspects of the teacher’s personality (thoroughness, enthusiasm, credibility, and flexibility), as well as preparedness, incorporating English for Specific Purposes (ESP) in the syllabus, and focusing on the present, proved to be the most salient aspects of the teacher’s motivating influence. The regression analyses conducted with the criterion measure scales revealed that 22% of the variance in learners’ intrinsic motivation could be explained by the teacher’s preparedness and appearance, and 23% of the variance in learners’ extrinsic motivation could be attributed to the teacher’s personal branding and incorporating ESP in the syllabus. The findings confirm the pivotal role teachers play in motivating L2 learners independent of the context they teach in; and, at the same time, call for further research so that we can better conceptualise the motivating influence of L2 teachers.

Keywords: adult learners, corporate contexts, motivation, teacher’s role

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Authors: Bella Llego

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This study aims to investigate the relationships between human resource management and entrepreneurship in the view of owner-managers and employees, and among employees with in the SME in Thailand. The research method used a qualitative method to confirm the phenomenology interest with top management position which women are regarding their career path by using purposive sampling method. The results showed that human resources management has positive relate with the corporate entrepreneurship are including the recruitment process, training worker, professional career development and reward system impact to entrepreneur’s knowledge and innovation of corporate entrepreneurship in respectively to bring a very reliable way. Then, the key informant suggested that women’s career experiences predisposed them to find an alternative route for entrepreneurship, despite having achieved top management. The understanding factors that successfully contribute to the development of women entrepreneurs from career development perspective are critical endeavours for any type of organization as well.

Keywords: entrepreneurship, firm performance, human resource management, work efficiency

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Authors: Syed Ahmed Salman

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Ethicality is essential in our daily activities, including personal and commercial activities. This is evidenced by referring to the historical development of the corporate governance and ethical guidelines. The first corporate governance guideline, i.e. Cadbury Report from U.K. focuses the responsibility of board members towards the shareholders only. Gradually, realising the need to take care of the society and community, stakeholders are now concerns of business entities. Consequently, later codes of corporate governance started extending the responsibility to the other stakeholders in addition to the shareholders. One prevailing corporate governance theory, i.e. stakeholder theory, has been widely used in the research to explore the effects of business entities on society. In addition, the Global Reporting Initiative (GRI) is the leading organisation which promotes social care from businesses for sustainable development. Conventionally, history shows that ethics is key to the long term success of businesses. Many organisations, societies, and regulators give full attention and consideration to ethics. Several countries have introduced ethical codes of conduct to direct trade activities. Similarly, Islam and other religions prohibit the practice of interest, uncertainty, and gambling because of its unethical nature. These prohibited practices are not at all good for the society, business, and any organisation especially as it is detrimental to the well-being of society. In order to avoid unethicality in the finance industry, Shari’ah scholars come out with the idea of Islamic finance which is free from the prohibited elements from the Islamic perspective. It can also be termed ethical finance. This paper highlights how Takaful as one of the Islamic finance products offers fair and just products to the contracting parties and the society. Takaful is framed based on ethical guidelines which are extracted from Shari’ah principles and divine sources such as the Quran and Sunnah. Takaful products have been widely offered all over the world, including in both Muslim and non-Muslim countries. It seems that it is gaining acceptance regardless of religion. This is evidence that Takaful is being accepted as an ethical financial product.

Keywords: ethics, insurance, Islamic finance, religion and takaful

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Authors: Wanlapha Phraibueng, Patrick Sentis, Geraldine Riviere-Giordano

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Corporate Social Responsibility (CSR) initiatives have been widely discussed especially in investor-oriented firms. In contrast, cooperatives pay less attention to CSR because their activities have integrated the responsibility and the solidity of social, economic and environment. On the other hand, by adopting ownership theory and agency theory – cooperatives ignore CSR investment due to unclarified decision control in the governance and the limitation to acquire the capital financed. The unique governance and financial structures in cooperatives lead to the conflict among the stakeholders and long-term investment which have an impact on firm financial performance. As an illustration of cooperatives dilemmas, we address the question of Whether or not cooperatives in term of governance and financial structures are the constraints on implementing CSR policies. We find that the governance and financial structures in large cooperatives are the influence factors which predispose cooperatives to invest on CSR. In contrast, in the startup or small cooperatives, its governance and financial structures are the constraints on implementing CSR policies. We propose the alternative financial structure based on the trade-off between debt and equity which aims to relax the restrictions in cooperatives’ governance and allow cooperatives to acquire the capital financed either from its members or non-members. We suggest that engaging equity as a financial structure induces cooperatives to invest on CSR policies. Alternative financial structure eliminates not only cooperative ownership control problem but also the constraints in capital acquisition. By implementing CSR activities consistent with the alternative financial choice, cooperatives can increase firm’s value and reduce the conflict among their stakeholders.

Keywords: cooperatives, corporate social responsibility, financial, governance

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Authors: B. Nečasová, P. Liška, J. Šlanhof

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Verification of vented wooden façade system with bonded joints is presented in this paper. The potential of bonded joints is studied and described in more detail. The paper presents the results of an experimental and theoretical research about the effects of freeze cycling on the bonded joint. For the purpose of tests spruce timber profiles were chosen for the load bearing substructure. Planks from wooden plastic composite and Siberian larch are representing facade cladding. Two types of industrial polyurethane adhesives intended for structural bonding were selected. The article is focused on the preparation as well as on the subsequent curing and conditioning of test samples. All test samples were subjected to 15 cycles that represents sudden temperature changes, i.e. immersion in a water bath at (293.15 ± 3) K for 6 hours and subsequent freezing to (253.15 ± 2) K for 18 hours. Furthermore, the retention of bond strength between substructure and cladding was tested and strength in shear was determined under tensile stress. Research data indicate that little, if any, damage to the bond results from freezing cycles. Additionally, the suitability of selected group of adhesives in combination with timber substructure was confirmed.

Keywords: adhesive system, bonded joints, wooden lightweight façade, timber substructure

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Authors: Mathieu Audet, Monica Soliman, Emilie Eve Gravel, Rebecca Friesdorf

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Access to higher education is critical for reducing social inequalities. The Canada Learning Bond (CLB) is a government savings incentive aimed at increasing higher education access for children of low income families by providing money toward a Registered Education Savings Plan. To better understand the educational and financial decision-making of low income families, Employment Social Development Canada conducted qualitative fieldwork with eligible parents and children, teachers, and community organizations promoting the Bond. Insights from this fieldwork were then used to develop letters to better target the needs and experiences of eligible families. In the present study, we conducted a randomized controlled trial with children ages 12 to 13, the oldest cohort of eligible children, to test the effectiveness of the new letters. Parents or caregivers of 150,088 eligible children were assigned to one of five letter conditions promoting the Bond or to a control condition that did not receive a letter. The letter conditions were: (a) the standard letter from past outreach, (b) a letter presenting the exact amount the child was eligible to receive, enhancing the salience of benefits, (c) a letter with a social norm, (d) a letter with an image emphasizing the feasibility of higher education by presenting the diversity of options (i.e., college, trade schools, apprenticeships) – many participants interviewed viewed that university was unfeasible, and (e) a letter minimizing references to 'saving' (i.e., not framing the Bond explicitly as a savings incentive) – a concept that did not resonate with low income families who felt they could not afford to save. The exact amount was also presented in letters (c) through (e). The letter minimizing references to 'saving' and presenting the exact amount had the highest net take-up rate at 6.6%, compared to 3.5% for the standard letter group. Furthermore, this trial’s BI-informed letters showed the largest impact on take-up so far, with a net take-up of 5.7% compared to 3.0% and 3.9% in the first two trials. This research highlights the value of mixed-method approaches combining qualitative and behavioural insights methods for developing context-sensitive interventions for social programs. By gaining a deeper understanding of the needs and experiences of program users through qualitative fieldwork, and then integrating these insights into behaviourally informed communications, we were able to increase take-up of an education savings program, which may ultimately improve access to higher education in children of low income families.

Keywords: access to higher education, behavioral insights, government, innovation, mixed-methods, social programs

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Authors: Julie V. Logan, Preston T. Webster, Kevin B. Woller, Christian P. Morath, Michael P. Short

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Semiconductors, as the base of critical electronic systems, are exposed to damaging radiation while operating in space, nuclear reactors, and particle accelerator environments. What innate property allows some semiconductors to sustain little damage while others accumulate defects rapidly with dose is, at present, poorly understood. This limits the extent to which radiation tolerance can be implemented as a design criterion. To address this problem of determining the driver of semiconductor radiation tolerance, the first step is to generate a dataset of the relative radiation tolerance of a large range of semiconductors (exposed to the same radiation damage and characterized in the same way). To accomplish this, Rutherford backscatter channeling experiments are used to compare the displaced lattice atom buildup in InAs, InP, GaP, GaN, ZnO, MgO, and Si as a function of step-wise alpha particle dose. With this experimental information on radiation-induced incorporation of interstitial defects in hand, hybrid density functional theory electron densities (and their derived quantities) are calculated, and their gradient and Laplacian are evaluated to obtain key fundamental information about the interactions in each material. It is shown that simple, undifferentiated values (which are typically used to describe bond strength) are insufficient to predict radiation tolerance. Instead, the curvature of the electron density at bond critical points provides a measure of radiation tolerance consistent with the experimental results obtained. This curvature and associated forces surrounding bond critical points disfavors localization of displaced lattice atoms at these points, favoring their diffusion toward perfect lattice positions. With this criterion to predict radiation tolerance, simple density functional theory simulations can be conducted on potential new materials to gain insight into how they may operate in demanding high radiation environments.

Keywords: density functional theory, GaN, GaP, InAs, InP, MgO, radiation tolerance, rutherford backscatter channeling

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Authors: Sumanta Das, Miroslav Gašparík, Tomáš Kytka, Anil Kumar Sethy

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In this modern century, Cross-laminated timber (CLT) evolved as an excellent material for building and high load-bearing structural applications worldwide. CLT is produced mainly from softwoods such as Norway spruce, White fir, Scots pine, European larch, Douglas fir, and Swiss stone pine. The use of hardwoods in CLT production is still at an early stage, and the utilization of hardwoods is expected to provide the opportunity for obtaining higher bending stiffness and shear resistance to CLT panels. In load-bearing structures like CLT, bonding is an important character that is needed to evaluate. One particular issue with using hardwood lumber in CLT panels is that it is often more challenging to achieve a strong, durable adhesive bond. Several researches in the past years have already evaluated the bonding properties of CLT panels from hardwood both from higher and lower densities. This research aims to identify the effect of pressure and glue spread and evaluate which poplar lumber characteristics affect adhesive bond quality. Three-layered CLT panels were prepared from poplar wood with one-component polyurethane (PUR) adhesive by applying pressure of 0.6 N/mm2 and 1 N/mm2 with a glue spread rate of 160 and 180 g/m2. The delamination and block shear tests were carried out as per EN 16351:2015, and the wood failure percentage was also evaluated. The results revealed that glue spread rate and applied pressure significantly influenced both the shear bond strength and wood failure percentage of the CLT. However, samples with lower pressure 0.6 N/mm2 and less glue spread rate showed delamination, and in samples with higher pressure 1 N/mm2 and higher glue spread rate, no delamination was observed. All the properties determined by this study met the minimum requirement mentioned in EN 16351:2015 standard.

Keywords: cross-laminated timber, delamination, glue spread rate, poplar, pressure, PUR, shear strength, wood failure percentage

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Authors: Lajmi Azhaar, Yab Mdallelah

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This study examines the Tunisian market in which recent events, notably financial scandals, provide an appropriate framework for studying the impact of corporate governance on the audit report lag. Moreover, very little research has been done to examine this relationship in this context. The objective of this work is, therefore, to understand the factors influencing audit report lag, drawing primarily on agency theory (Jensen and Meckling, 1976), which shows that the characteristics of the board of directors have an impact on the report lag (independence, diligence, and size). In addition, the characteristics of the committee also have an impact on the audit report lag (size, independence, diligence, and expertise). Therefore, our research provides empirical evidence on the impact of governance mechanisms attributes on audit report lag. Using a sample of forty-seven (47) Tunisian companies listed on the Tunis Stock Exchange (BVMT) during the period from 2014 to 2019, and basing on the GMM method of the dynamic panel, multivariate analysis shows that most corporate governance attributes have a significant effect on audit report lag. Specifically, the audit committee diligence and the audit committee expertise have a significant and positive effect on audit report lag. But the diligence of the board has a significant and negative effect on audit report lag. However, this study finds no evidence that the audit committee independence, the size, independence, and diligence of the director’s board are associated with the audit report lag. In addition, the results of this study also show that there is a significant effect of some control variables. Finally, we are contributing to this study by using the GMM method of the dynamic panel. We are also using an emerging context that is very poorly developed and exploited by previous studies.

Keywords: governance mechanisms, audit committee, board of directors, audit report lag

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Authors: Morena Paulisic, Marli Gonan Bozac

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Business organization and management in theory are typically presented as gender- neutral. Although in practice female contribution to corporation is not questionable, gender diversity in top management of corporation is and that especially in emerging countries like Croatia. This paper brings insights into obstacles and problems which should be overcome. Furthermore, gives an introspective view on the most important promotion and motivation factors of powerful female CEOs in Croatia. The goal was to clarify perception and performance of female CEOs that contributed to their success and to determine mutual characteristics of women in corporate entrepreneurship regarding the motivation. For our study we used survey instrument that was developed for this research. The research methods used were: table research, field research, generalization method, comparative method, and statistical method (descriptive statistics and Pearson’s Chi-square test). Some result showed us that today even more women in corporations are not likely to accept more engagement at work if it harms their families (2003 – 31.9% in 2013 – 33.8%) although their main motivating factor is still interested job (2003 – 95.8%; in 2013-100%). It is also significant that 78.8 % of Croatian top managers (2013) think that women managers in Croatia are insufficiently spoken and written about, and that the reasons for this are that: (1) the society underestimates their ability (37.9%); (2) women underestimate themselves (22.4%); (3) the society still mainly focuses on male managers (20.7%) and (4) women managers avoid interviews and appearing on front pages (19%). The environment still “blocks” the natural course of advancement of women managers in organisations (entrepreneurship in general) and the main obstacle is that women must always or almost always be more capable than men in order to succeed (96.6%). Based on survey results on longitudinal research conducted in 2003 (return rate 30,8%) and 2013 (return rate 29,2%) in Croatia we expand understanding of determination indicators of corporate female entrepreneurship. Theoretically in practice gender structure at the management level (executive management, management board and supervisory board) throw years (2011- 2014) have positive score but still women remain significantly underrepresented at those positions. Findings from different sources have shown that diversity at the top of corporations’ correlates with better performance. In this paper, we have contributed to research on gender in corporate entrepreneurship by offering experiences from successful female CEOs and explanation why in social responsible society women with their characteristics can support needed changes and construct different way forward for corporations. Based on research result we can conclude that in future underrepresentation of female in corporate entrepreneurship should be overcome.

Keywords: Croatia, female entrepreneurship, glass ceiling, motivation

Procedia PDF Downloads 314