Supply Chain Finance, Performance and Risk: How Do SMEs Adjust Their Buyer-Supplier Relationship for Competitiveness?

Supply chain finance (SCF) has attracted considerable attention being an innovative business model that allows firms, especially small- and medium-sized enterprises (SMEs), to convert illiquid assets into cash without incurring additional liabilities. However, its effects on SME performance and risk have been insufficiently studied. The competitiveness of SMEs depends on performance enhancement and risk mitigation. Thus, this study constructs a scaled-decile rank transformation of account receivable turnover to gauge the degree to which a supplier implements SCF, thereby examining the relationship between SCF, performance, and risk. We collect data on 4,679 SMEs from the Chinese manufacturing sector. Thereafter, hierarchical linear regression, a complex form of multiple linear regression analysis, is employed to test the hypotheses. The results indicate that an SME’s SCF adoption positively impacts its performance but negatively impacts its risk. To further explore cross-sectional variability, we investigated the buyer-supplier relationship’s moderating role. Results show that an increase in customer concentration strengthens both the positive effects of SCF on performance and the negative effects of SCF on risk. Overall, our study contributes to the literature on the interface of operations and finance in supply chains by exploring the multiple facets of SCF adoption and highlighting the moderating role of buyer-supplier relationship in SCF and SME competitiveness. Finally, we provide managerial implications for SMEs and financial service providers by validating the value of SCF implementation and the buyer-supplier relationship management in forging competitive advantages.

Decoupling countermands nonselective response inhibition during selective stopping

Response inhibition is essential for goal-directed behavior within dynamic environments. Selective stopping is a complex form of response inhibition where only part of a multi-effector response must be cancelled. A substantial response delay emerges on unstopped effectors when a cued effector is successfully stopped. This stopping-interference effect is indicative of nonselective response inhibition during selective stopping which may, in-part, be a consequence of functional coupling. The present study examined selective stopping of (de)coupled bimanual responses in healthy human participants of either sex. Participants performed synchronous and asynchronous versions of an anticipatory stop-signal paradigm across two sessions while mu (µ) and beta (β) rhythm were measured with electroencephalography. Results showed that responses were behaviorally decoupled during asynchronous go trials and the extent of response asynchrony was associated with lateralized sensorimotor µ and β desynchronization during response preparation. Selective stopping produced a stopping-interference effect and was marked by a nonselective increase and subsequent rebound in prefrontal and sensorimotor β. In support of the coupling account, stopping-interference was smaller during selective stopping of asynchronous responses, and negatively associated with the magnitude of decoupling. However, the increase in sensorimotor β during selective stopping was equivalent between the stopped and unstopped hand irrespective of response synchrony. Overall, the findings demonstrate that decoupling facilitates selective stopping after a global pause process and emphasizes the importance of considering the influence of both the go and stop context when investigating response inhibition.

Ordinary Versus Novel Particle With the Example of Their Spontaneous Transition

The bicubic equation of particle limiting velocity formalism yields three solutions c1, c2 and c3, (primary, secondary and tertiary) limiting velocities in terms of the congruent parameter  which is defined in terms of m, v, and E, respectively being particle mass, velocity and energy. The bicubic equation discriminant D is given in terms of the congruent parameter z(m). When one has z2(m) ≤ 1 with the discriminant satisfying D ≤ 0 then we are talking about limiting velocities of ordinary particles. Good examples are the relativistic particles such as electron, neutrino,etc., with luminal limiting velocity c3 = c and calculated superluminal c2, and imaginary superluminal c1, all corresponding to the real particle energy. On the specific level, the situations like these, we discuss in the muon neutrino velocities with the OPERA detector and the electron velocities from the 2010 Grab Nebula Flare. The z(m) = 1 value separates the ordinary particles from novel particles, associated with D ⪰ 0 and z2 ⪰ 1 with new novel particle limiting velocity solutions c1, c2 and c3 which depend, in addition to z(m), also on the congruent angle α(m), nonlinearly related to z(m). These solutions are discussed on the newly defined sterile neutrino which here is modeled as an ordinary particle with z2 ⪯ 1 spontaneously transiting via z(m) = 1 into the modeled novel sterile neutrino with z2 ⪰ 1. All ordinary and novel particles limiting velocities carry real particle energies; the ordinary particle limiting velocity solutions being in quadratic forms, while the novel particle limiting velocity solutions being respectively, in quadratic complex form, linear complex form, and just congruent angle α complex quadratic form.

EXTRACTION CONCENTRATING OF SCANDIUM (III) IN COMPLEX FORM WITH 2-HYDROXY-5-T-BUTYLPHENOL-4-METOXYAZOBENZENE AND ITS DETERMINATION BY ATOMIC-ABSORPTION SPECTROMETRY

Complexation of scandium 2-hydroxy-5-T-butylphenol-4-metoxyazobenzene (HR) was studied by atomic-absorption and spectrophotometric methods. Optimum conditions of formation and extraction of the complex were found. Maximum light absorbance of a complex in n-butanol is in the range of 470÷480 nm. Molar absorption coefficient equals to (2.2–3.0).104. Stability constant of scandium in n-butanol is л=2.8·1010. Selective and sensitive techniques of extraction-atomic absorption determination of scandium in soils were developed

Genotyping and multivariate regression trees reveal ecological diversification within the Microcystis aeruginosa complex along a wide environmental gradient

Addressing the ecological and evolutionary processes underlying biodiversity patterns is essential to identify the mechanisms shaping community structure and function. In bacteria, the formation of new ecologically distinct populations (ecotypes) is proposed as one of the main drivers of diversification. New ecotypes arise when mutations in key functional genes or acquisition of new metabolic pathways by horizontal gene transfer allow the population to exploit new resources, permitting their coexistence with the parental population. We previously reported the presence of microcystin-producing organisms of the Microcystis aeruginosa complex (toxic MAC) through an 800 km environmental gradient ranging from freshwater to estuarine-marine waters in South America. We hypothesize that the success of toxic MAC in such a gradient is due to the existence of very closely related populations that are ecologically distinct (ecotypes), each specialized to a specific arrangement of environmental variables. Here, we analyzed toxic MAC genetic diversity through qPCR and high-resolution melting analysis (HRMA) of a functional gene ( mcyJ , microcystin synthetase cluster). We explored the variability of the mcyJ gene along the environmental gradient by multivariate classification and regression trees ( m CART). Six groups of mcyJ genotypes were distinguished and associated with different combinations of water temperature, conductivity and turbidity. We propose that each mcyJ variant associated to a defined environmental condition is an ecotype (or species) whose relative abundances vary according to their fitness in the local environment. This mechanism would explain the success of toxic MAC in such a wide array of environmental conditions. Importance Organisms of the Microcystis aeruginosa Complex form harmful algal blooms (HABs) in nutrient-rich water bodies worldwide. MAC HABs are difficult to manage owing to the production of potent toxins (microcystins) that resist water treatment. Besides, the role of microcystins in the ecology of MAC organisms is still elusive, meaning that the environmental conditions driving the toxicity of the bloom are not clear. Furthermore, the lack of coherence between morphology-based and genomic-based species classification makes it difficult to draw sound conclusions about when and where each member species of the MAC will dominate the bloom. Here, we propose that the diversification process and success of toxic MAC in a wide range of waterbodies involves the generation of ecotypes, each specialized in a particular niche, whose relative abundance varies according to its fitness in the local environment. This knowledge can improve the generation of accurate prediction models of MAC growth and toxicity, helping to prevent human and animal intoxication.

The transition from the female-like great calls to male calls during ontogeny in southern yellow-cheeked gibbon males (Nomascus gabriellae)

It is well known that gibbons emit a pattern of vocalizations, which is specific for species and sex. A previous study showed, however, that immature southern yellow-cheeked gibbon (Nomascus gabriellae) males produce only female-like great calls from 2.3 to 5.3 years of age in co-singing interactions with their mothers. To date, nothing is known about how the vocal repertoire of a male changes from the female-like call (great call) to the male call (staccato notes and multi-modulation phrase) during vocal ontogeny. The goal of this study was to describe the transition from the female-like great call to the male call and the ontogeny of the male call. We predicted that the transition from the female-like great call to the male-specific call and the development of the male call is a normal part of the aging proces. If this is the case, the following phenomena will occur: (a) female vocalization should no longer be produced with the mature form of the multi-modulation phrase and (b) all stages of the male vocalization should occur gradually as the young male ages. Young males regularly emit both female-like great calls and male-specific calls between the ages of 5.6 to 7.1 years. Once the young males reached 7.1 years of age, they emitted male calls exclusively, and they continued to do so until the end of the observation period (at 8.11 years of age). It was confirmed that the young males emitted only female-like great calls during periods when they produced non-mature forms of a multi-modulation phrase (Fm0,1—none or one frequency modulation in second notes). Furhermore, the decrease in the number of female-like great calls was attributed to the development of the mature form of the multi-modulation phrase (Fm2—two or more frequency modulation in second notes), which developed with age. We also confirmed that the multi-modulation phrase developed gradually, while the development of the staccato notes occurred in leaps. A multi-modulation phrase developed as the initial part of the male-specific call. It was evolved from a simpler to a more complex form as the maximum frequency and age of the young males increased. Staccato notes subsequently developed in certain young males. Possible explanations for such vocal ontogeny in young males are discussed in this work.

TRANSFORMATIONAL LEADERSHIP IN THE SERVICE OF ORGANIZATIONAL CHANGES

The complex and dynamic environment in which modern companies operate requires frequent organizational changes that are used as a mechanism for adapting the company's business to market requirements, in order to improve or maintain a competitive advantage. Mergers and acquisitions, as a complex form of organizational change of companies, represent a relevant problem area of ​​research. Since the success of organizational change depends on two important factors, leaders and employees, the aim of this research is to identify the interdependence of transformational leadership, job satisfaction and commitment to organizational change by employees in the post-acquisition period. The research results show that there is interdependence between transformational leadership, job satisfaction and commitment to organizational change in the post-acquisition period. The empirical research was conducted in 2021, using a survey method. Data were analyzed using Pearson’s correlation and single as well as multiple regression method. A sample of 129 respondents was taken into accounts, who are employed in companies in the Republic of Serbia that have gone through the acquisition process in the last five years.

A Projective Site: Inhabiting the Metaphorical Interval between the Instrumental and Symbolic Meanings of Architecture

<p>Historically, there have been two ways of perceiving space that have been considered opposed to one another and that have significant implications for the way in which architecture is understood. The first is real space, which relates to the direct, sensory and embodied perceptions of architecture as built. This space generates the symbolic meanings of architecture and is understood as our primary way of understanding space. The Second is the analytical, measured space of representation - the drawings and models architects make, which have historically been called the instrumental as they are instruments in the description of architecture. This work challenges that these are independent and oppositional ways of understanding space. I argue that this perceived separation perpetuates the notion of the instrumental and symbolic meanings of architecture to be held in a dichotomous relationship. The aim of this research is to reorient the instrumental and symbolic meanings of architecture toward a reciprocal relationship by examining their presence within both real and representational space. The research first explores the distinct characteristics of real and representational space that have perpetuated the notion they are distinct entities. Once these characteristics are identified, two central case studies explore ways in which they are translated through real and representational space in order to engender a more meaningful reciprocity. Referencing Michael Webb’s Temple Island (1966 - ongoing) and Guarino Guarini’s Santissima Sindone in Turin (1667-1694) as revealing examples, this thesis argues that the qualities of real and representational space are constantly permeating the assumed boundaries of each other, and that consequently, an architectural space exists between them. Indeed, this thesis aims to examine the existence of a metaphorical interval between a physical building, and its representation in drawings and modeling. This research proposes that pure instrumentality is an illusion, maintaining its legitimacy through a self-imposed autonomy. The research concludes in a design project that suggests a more complex form of inhabiting architecture may challenge the gap between real and representational space, and by extension the separation of the instrumental and symbolic meanings of architecture. It sets out to achieve this through an allegorical investigation exploring a more complex way to occupy architecture - where both real space and the space of representation can be occupied simultaneously. The design research seeks to dissolve the distinctions between how architecture is designed and represented, and how it is understood experientially as built. The thesis concludes that by collapsing the sensory, embodied complexities of real space, with the abstract, analytical characteristics of representational space, the instrumental and symbolic meanings of architecture can be understood in a reciprocal relationship, where one gives structure and meaning to the other.</p>