Iceland capital controls exit could set precedent

2016 ◽  
Keyword(s):  
Capital Flows ◽  
Currency Crisis ◽  
Capital Controls ◽  
International Markets ◽  
Content Type ◽  
Bank Resolution ◽  
The Stability ◽  
The Way

Significance The island is on track to start receiving early this year the 'stability contribution' that creditors of its three large failed banks have agreed to pay in return for regaining access to their assets, clearing the way for the -- probably gradual -- lifting of capital controls. Iceland could become an important international example of lifting capital controls without a fresh currency crisis, further public assumption of debt or litigation by creditors. Impacts If it persists, international markets' febrile state will make it especially hard to assess post-liberalisation risks for the krona. CBI rate rises are extra insurance against a post-liberalisation devaluation, but could complicate inflation and capital-flows policy. President Olafur Ragnar Grimsson will stand down after 20 years when his term ends in June, reinforcing the sense of an era ending. The January 1 entry into force of the euro-area's controversial new bank resolution regime will highlight Iceland's different path. Being one of the few states to prosecute and sentence bankers for their pre-crash actions will reinforce Iceland's distinctiveness.

Dynamics of capital controls: panel evidence from Asia

2020 ◽  
Vol 47 (2) ◽  
pp. 242-263
Author(s):  
Biplab Kumar Guru ◽  
Inder Sekhar Yadav
Keyword(s):  
Capital Flows ◽  
Capital Controls ◽  
Substitution Effect ◽  
Capital Flight ◽  
Empirical Examination ◽  
Content Type ◽  
Asian Economies ◽  
Asset Classes ◽  
The Impact ◽  
Gross Capital Flows

PurposeThis study empirically examines the effect of capital controls on the volume and composition of capital flows at aggregated as well as at disaggregated level by different asset classes such as debt, FDI, equity, and derivatives.Design/methodology/approachSeveral dynamic panel SYS-GMM models are employed on two sets of unique data on cross-border capital flows and capital control index along with control variables at aggregated and disaggregated level by different asset classes during 1995–2015 for a sample of 31 Asian economies.FindingsEconometric findings suggest that higher capital controls effectively reduce gross capital flows. The reduction in gross capital flows is largely found to be on account of effectiveness of controls on equity flows. However, the impact of controls on overall debt and derivative flows is found to be insignificant. Further, it was found that an increase in direct capital controls disaggregated by inflow and outflow categories significantly reduced the inflow of debt and equity + FDI flows and outflow of equity + FDI and derivative flows. Finally, the study did not find any substitution effect (due to indirect controls) and net effect on capital flows.Practical implicationsResults of such empirical examination may enable governments in respective countries to pursue prudent and rational capital controls as a shield against capital flight and shock transmission.Social implicationsPreventing capital flight through effective controls has macroeconomic benefits such as maintaining stability in income, growth, interest rate, exchange rate, and employment levels for the society.Originality/valueThe primary contribution of the study is the analysis of effectiveness of capital controls disaggregated by different asset categories such as debt, equity, FDI, and derivatives using two unique recent data sets for a large sample of Asian economies.

Virus impact will make Bulgaria keener to adopt euro

2020 ◽  
Keyword(s):  
Crisis Management ◽  
Healthcare System ◽  
International Markets ◽  
Content Type ◽  
Debt Ceiling ◽  
The Way

Significance The country’s successful two-month lockdown ended on May 13. Bulgaria has raised its debt ceiling fivefold for this year and plans to sell debt on international markets, expecting the budget to swing from balance to a 3% of GDP deficit. Impacts The 14-day quarantine at the Greek and Serbian borders will end for business and other travellers from June 1 and for tourists from June 15. Many Bulgarians approve the government’s crisis management, few attending the anti-lockdown protest organised by a fringe party on May 14. The crisis is likely to prompt a reform in the way Bulgaria’s healthcare system is financed.

Vardhman Envirotech: expanding by making world water positive

2021 ◽  
Vol 11 (4) ◽  
pp. 1-27
Author(s):  
Amarpreet Singh Ghura ◽  
Abhishek Abhishek
Keyword(s):  
International Market ◽  
International Markets ◽  
Case Discussion ◽  
Content Type ◽  
Market Expansion ◽  
Link Type ◽  
Academic Level ◽  
The Government ◽  
The Way ◽  
Recharge Well

Complexity academic level The case provides an opportunity for participants to step into the shoes of Doshi and plan a way to expand Vardhman Envirotech (VE) business by either entering the government segment or by undertaking international market expansion. In doing so, participants should understand the existing strategy by taking into consideration the aspects regarding the manner in which VE’s Injection Recharge Well differs from the existing recharge well solutions. VE lack of experience in government segment, as well as international markets provides an interesting context for the case discussion wherein participants have to examine the positives and challenges of both expansion opportunities and decide the way forward. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email [email protected] to request teaching notes. Subject code CSS3: Entrepreneurship.

Co-workers’ perceptions of and reactions to employee’s involuntary demotion

2019 ◽  
Vol 41 (4) ◽  
pp. 740-757 ◽  
Author(s):  
Sophie Hennekam ◽  
Subramaniam Ananthram ◽  
Steve McKenna
Keyword(s):  
Design Methodology ◽  
Emotional Responses ◽  
Emotional Reaction ◽  
Content Type ◽  
Informational Justice ◽  
Behavioural Responses ◽  
Behavioural Reaction ◽  
Three Stages ◽  
Depth Interviews ◽  
The Way

Purpose The purpose of this paper is to investigate how individuals perceive and react to the involuntary demotion of a co-worker in their organisation. Design/methodology/approach The authors draw on 46 semi-structured in-depth interviews (23 dyads) with co-workers of demoted individuals. Findings The findings suggest that an individual’s observation of the demotion of a co-worker has three stages: their perception of fairness, their emotional reaction and their behavioural reaction. The perception of fairness concerned issues of distributive, procedural, interpersonal and informational justice. The emotional responses identified were feelings of disappointment/disillusion, uncertainty, vulnerability and anger. Finally, the behavioural reactions triggered by their emotional responses included expressions of voice, loyalty, exit and adaptation. Originality/value Perceptions of (in)justice perpetrated on others stimulate emotional and behavioural responses, which impacts organisational functioning. Managers should therefore pay attention to the way a demotion is perceived, not only by those directly concerned, but also by co-workers as observers.

Fusion based learning approach for predicting concrete pouring productivity based on construction and supply parameters

2016 ◽  
Vol 16 (2) ◽  
pp. 185-202 ◽  
Author(s):  
Mojtaba Maghrebi ◽  
Ali Shamsoddini ◽  
S. Travis Waller
Keyword(s):  
Supply Chain ◽  
Production Rate ◽  
Learning Method ◽  
Data Set ◽  
Content Type ◽  
Field Database ◽  
The Stability ◽  
Stable Learning ◽  
Ready Mixed Concrete ◽  
Practical Implications

Purpose The purpose of this paper is to predict the concrete pouring production rate by considering both construction and supply parameters, and by using a more stable learning method. Design/methodology/approach Unlike similar approaches, this paper considers not only construction site parameters, but also supply chain parameters. Machine learner fusion-regression (MLF-R) is used to predict the production rate of concrete pouring tasks. Findings MLF-R is used on a field database including 2,600 deliveries to 507 different locations. The proposed data set and the results are compared with ANN-Gaussian, ANN-Sigmoid and Adaboost.R2 (ANN-Gaussian). The results show better performance of MLF-R obtaining the least root mean square error (RMSE) compared with other methods. Moreover, the RMSEs derived from the predictions by MLF-R in some trials had the least standard deviation, indicating the stability of this approach among similar used approaches. Practical implications The size of the database used in this study is much larger than the size of databases used in previous studies. It helps authors draw their conclusions more confidently and introduce more generalised models that can be used in the ready-mixed concrete industry. Originality/value Introducing a more stable learning method for predicting the concrete pouring production rate helps not only construction parameters, but also traffic and supply chain parameters.

Investigation of sustainability of lubricated journal bearing under relevant design parameters

2018 ◽  
Vol 70 (4) ◽  
pp. 789-804 ◽  
Author(s):  
M.M. Shahin ◽  
Mohammad Asaduzzaman Chowdhury ◽  
Md. Arefin Kowser ◽  
Uttam Kumar Debnath ◽  
M.H. Monir
Keyword(s):  
Aspect Ratio ◽  
Elastic Strain ◽  
Journal Bearing ◽  
Design Parameters ◽  
Content Type ◽  
Computational Fluid Dynamics Cfd ◽  
Stress Formation ◽  
Bearing Design ◽  
The Stability ◽  
Bearing Friction

Purpose The purposes of the present study are to ensure higher sustainability of journal bearings under different applied loads and to observe bearing performances such as elastic strain, total deformation and stress formation. Design/methodology/approach A journal bearing test rig was used to determine the effect of the applied load on the bearing friction, film thickness, lubricant film pressure, etc. A steady-state analysis was performed to obtain the bearing performance. Findings An efficient aspect ratio (L/D) range was obtained to increase the durability or the stability of the bearing while the bearing is in the working condition by using SAE 5W-30 oil. The results from the study were compared with previous studies in which different types of oil and water, such as Newtonian fluid (NF), magnetorheological fluid (MRF) and nonmagnetorheological fluid (NMRF), were used as the lubricant. To ensure a preferable aspect ratio range (0.25-0.50), a computational fluid dynamics (CFD) analysis was conducted by ANSYS; the results show a lower elastic strain and deformation within the preferable aspect ratio (0.25-0.50) rather than a higher aspect ratio using the SAE 5W-30 oil. Originality/value It is expected that the findings of this study will contribute to the improvement of the bearing design and the bearing lubricating system.

How to turn managers into data-driven decision makers

2019 ◽  
Vol 25 (3) ◽  
pp. 553-578 ◽  
Author(s):  
Kevin Daniel André Carillo ◽  
Nadine Galy ◽  
Cameron Guthrie ◽  
Anne Vanhems
Keyword(s):  
Measurement Instrument ◽  
Data Driven ◽  
Business Analytics ◽  
Business World ◽  
Content Type ◽  
Multi Stage ◽  
Attitudes Toward Statistics ◽  
Attitude Toward Business ◽  
Professional Contexts ◽  
The Way

Purpose The purpose of this paper is to emphasize the need to engender a positive attitude toward business analytics in order for firms to more effectively transform into data-driven businesses, and for business schools to better prepare future managers. Design/methodology/approach This paper develops and validates a measurement instrument that captures the attitude toward business statistics, the foundation of business analytics. A multi-stage approach is implemented and the validation is conducted with a sample of 311 students from a business school. Findings The instrument has strong psychometric properties. It is designed so that it can be easily extrapolated to professional contexts and extended to the entire domain of business analytics. Research limitations/implications As the advent of a data-driven business world will impact the way organizations function and the way individuals think, work, communicate and interact, it is crucial to engage a transdisciplinary dialogue among domains that have the expertise to help train and transform current and future professionals. Practical implications The contribution provides educators and organizations with a means to measure and monitor attitudes toward statistics, the most anxiogenic component of business analytics. This is a first step in monitoring and developing an analytics mindset in both managers and students. Originality/value By demonstrating how the advent of the data-driven business era is transforming the DNA and functioning of organizations, this paper highlights the key importance of changing managers’ and all employees’ (to a lesser extent) mindset and way of thinking.

Blockchain as supply chain technology: considering transparency and security

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Pei Xu ◽  
Joonghee Lee ◽  
James R. Barth ◽  
Robert Glenn Richey
Keyword(s):  
Supply Chain ◽  
Text Mining ◽  
Information Security ◽  
Design Methodology ◽  
Use Cases ◽  
Future Research ◽  
Content Type ◽  
Blockchain Technology ◽  
Twitter Data ◽  
The Way

PurposeThis paper discusses how the features of blockchain technology impact supply chain transparency through the lens of the information security triad (confidentiality, integrity and availability). Ultimately, propositions are developed to encourage future research in supply chain applications of blockchain technology.Design/methodology/approachPropositions are developed based on a synthesis of the information security and supply chain transparency literature. Findings from text mining of Twitter data and a discussion of three major blockchain use cases support the development of the propositions.FindingsThe authors note that confidentiality limits supply chain transparency, which causes tension between transparency and security. Integrity and availability promote supply chain transparency. Blockchain features can preserve security and increase transparency at the same time, despite the tension between confidentiality and transparency.Research limitations/implicationsThe research was conducted at a time when most blockchain applications were still in pilot stages. The propositions developed should therefore be revisited as blockchain applications become more widely adopted and mature.Originality/valueThis study is among the first to examine the way blockchain technology eases the tension between supply chain transparency and security. Unlike other studies that have suggested only positive impacts of blockchain technology on transparency, this study demonstrates that blockchain features can influence transparency both positively and negatively.

Analysis of Hiemenz flow of Reiner-Rivlin fluid over a stretching/shrinking sheet

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Golam Mortuja Sarkar ◽  
Suman Sarkar ◽  
Bikash Sahoo
Keyword(s):  
Nusselt Number ◽  
Stability Analysis ◽  
Friction Coefficient ◽  
Skin Friction Coefficient ◽  
Dual Solutions ◽  
Shrinking Sheet ◽  
Content Type ◽  
Hiemenz Flow ◽  
Self Similar ◽  
The Stability

Purpose This paper aims to theoretically and numerically investigate the steady two-dimensional (2D) Hiemenz flow with heat transfer of Reiner-Rivlin fluid over a linearly stretching/shrinking sheet. Design/methodology/approach The Navier–Stokes equations are transformed into self-similar equations using appropriate similarity transformations and then solved numerically by using shooting technique. A simple but effective mathematical analysis has been used to prove the existence of a solution for stretching case (λ> 0). Moreover, an attempt has been laid to carry the asymptotic solution behavior for large stretching. The obtained asymptotic solutions are compared with direct numerical solutions, and the comparison is quite remarkable. Findings It is observed that the self-similar equations exhibit dual solutions within the range [λc, −1] of shrinking parameter λ, where λc is the turning point from where the dual solutions bifurcate. Unique solution is found for all stretching case (λ > 0). It is noticed that the effects of cross-viscous parameter L and shrinking parameter λ on velocity and thermal fields show opposite character in the dual solution branches. Thus, a linear temporal stability analysis is performed to determine the basic feasible solution. The stability analysis is based on the sign of the smallest eigenvalue, where positive or negative sign leading to a stable or unstable solution. The stability analysis reveals that the first solution is stable that describes the main flow. Increase in cross-viscous parameter L resulting in a significant increment in skin friction coefficient, local Nusselt number and dual solutions domain. Originality/value This work’s originality is to examine the combined effects of cross-viscous parameter and stretching/shrinking parameter on skin friction coefficient, local Nusselt number, velocity and temperature profiles of Hiemenz flow over a stretching/shrinking sheet. Although many studies on viscous fluid and nanofluid have been investigated in this field, there are still limited discoveries on non-Newtonian fluids. The obtained results can be used as a benchmark for future studies of higher-grade non-Newtonian flows with several physical aspects. All the generated results are claimed to be novel and have not been published elsewhere.

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