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Determinants of Leverage in Emerging Markets and the Moderating Effect of Foreign Ownership: Evidence from Nigeria
Get PDFManagers of corporations are usually faced with several strategic decisions to make, including those related to capital structure and financial leverage. This study examines the determinants of leverage practices of listed non-financial firms, both local and foreign, and the moderating effect of foreign ownership. The study uses data from 61 listed non-financial firms over the period 2011–2021 and employs the generalized method of moments estimation technique to explore direct and moderating relationships. The key findings show that profitability, firm growth, liquidity, asset tangibility, capital expenditure, dividend and foreign ownership decrease leverage significantly, while holding more cash increases leverage practices significantly. In particular, firm growth, asset tangibility and dividend increase leverage insignificantly (significantly for cash), whereas return on asset and liquidity significantly decrease leverage in local firms (insignificantly for capital expenditure). On the other hand, all firm characteristics, except cash and dividends, significantly decrease leverage in foreign firms. Moreover, foreign firms have more debt financing compared to the local firms in Nigeria. It is also evident that foreign ownership moderates the relationship between return on asset, firm growth and leverage practices. Such findings should assist managers, investors and regulators in Nigeria to understand the determining factors of leverage and to consider the accruing benefits of debt financing over equity financing
Machine Learning-Driven Optimization of Spent Lithium Iron Phosphate Regeneration
Get PDFThe increasing number of spent lithium-ion batteries demands efficient recovery or regeneration to address the associated environmental challenges. Solid-state direct regeneration of spent electrodes is a promising technique that has received significant attention recently. However, the process still requires considerable optimization before being commercially applied. This study leverages machine learning (ML) to develop highly accurate models that characterize the performance of regenerated lithium iron phosphate (LFP) cathodes through three case studies focused on direct regeneration methods. Five different ML models, including artificial neural network (ANN), advanced classification and regression trees (C&RT), boosted regression trees (BRT), support vector machine (SVM), and K-nearest neighbors (KNN), were trained using the collected data. The optimized regeneration conditions identified by the ANN model indicate that a 6.2% increase in specific discharge capacity can be achieved compared to the conditions determined experimentally. The results also showed a possible increase in cycle life, with higher capacity retention after 1147 cycles. These findings highlight the efficacy of ANN models in predicting and optimizing the performance of regenerated batteries, offering significant reductions in time and resources compared to traditional laboratory methods. Moreover, the concept demonstrated in this study shows strong potential for generalization to other battery materials, enabling the optimization of regeneration processes across a broader range of battery chemistry. While most research emphasizes using support vector machines (SVMs) for modeling newly manufactured batteries, this study demonstrates that ANN models provide superior accuracy for regenerated batteries, paving the way for more sustainable energy storage solutions
Achieving Senior Tourists’ Active Aging Through Value Co–creation: A Customer-Dominant Logic Perspective
Get PDFSenior tourists have their own travel behaviors and preferences and require specific resources from the tourism industry and the broader society. This study adopts customer-dominant logic to understand how participating in tourism activities can support seniors to co-create
active aging value. Interviews were conducted with 31 senior tourists and 16 tourism and hospitality service providers. Six value themes were identified from the interviews, namely, enjoyment, connectedness, mental vitality, independence, sense of belonging, and selfesteem. The six values were categorized into functional, social, and spiritual dimensions. A value co-creation nexus was developed with continuum- and development-oriented active aging as the two extremes. This nexus highlighted the differentiated efforts exerted by cocreators to create value and identified the value co-creation routines of stakeholders, their
corresponding values, and their facilitators. Value co-creation activities were introduced into active aging with tourism as the context. The findings of this study can support the management of tourism services, promote inclusiveness in society, and aid in government policy making
“Were in this Together” - NGO Advocacy and LGBTQ+ Asylum Claimants: Intimate/Care Citizenship as Co- Presence and Imagined Equality
Get PDFThis paper explores the work of regional NGO organisations in the UK that explicitly support LGBTQ+ asylum claimants, framing the testimonials of both service providers and service users, in considering issues of co-presence, and imagined equality, that may be experienced between the parties. While framing the cultural and political environment at the time of the Covid-19 pandemic, and critiquing citizenship as a purely hegemonic nationalistic concept by drawing from theories of “intimate citizenship” (Plummer, 1995) and “Care-tizenship” (Casas-Cortes, 2019), this paper considers the dynamics of collective advocacy. Offering an intersectional approach that frames issues of sexuality, gender, race, ethnicity, religion and regionality, the authors consider the significance of co-presence, offering a hybrid mode of citizenship that frames the optimistic sense of equality afforded when LGBTQ+ service users support LGBTQ+ asylum claimants
CORRECTION: Photocatalytic CO2 reduction to methanol integrated with the oxidative coupling of thiols for S-X (X = S, C) bond formation over an Fe3O4/BiVO4 composite
Get PDFCorrection for ‘Photocatalytic CO2 reduction to methanol integrated with the oxidative coupling of thiols for S–X (X = S, C) bond formation over an Fe3O4/BiVO4 composite’ by Nitish Saini et al., Sustainable Energy Fuels, 2024, 8, 1750–1760, https://doi.org/10.1039/D3SE01651J.
The authors regret the omission of one of the affiliations of the author, Suman L. Jain, from the original manuscript. The corrected list of authors and affiliations for this paper is as shown here.
The Royal Society of Chemistry apologises for these errors and any consequent inconvenience to authors and readers
The risk of believing that emotions are bad and uncontrollable: association with orthorexia nervosa.
Get PDFPURPOSE: This study aimed to explore emotional functioning in individuals with varying levels of orthorexia nervosa (ON) symptoms. Given the established links between emotion dysregulation and other eating disorders (EDs), and the conceptualization of ON within the ED spectrum, this research sought to examine the relationships between ON symptomatology and emotion regulation strategies, alexithymia, and beliefs about emotions. METHODS: A large sample (N = 562) completed self-report measures with high psychometric properties, assessing ON traits (E-DOS), emotion regulation strategies (DERS-SF and ERQ), alexithymia (TAS-20), and beliefs about emotions (ERQ). The study used well-validated measures to address limitations of previous research. RESULTS: Individuals with high ON traits demonstrated difficulties in most aspects of emotional functioning compared to those with low ON traits. Suppression, but not reappraisal, partially mediated the relationship between beliefs about emotions and ON symptoms. Believing emotions are bad or useless, difficulty controlling impulses, and relying on suppression to regulate emotions were most strongly associated with ON symptoms. CONCLUSION: This study provides evidence that emotion dysregulation plays an important role in ON symptomatology. The findings suggest that when emotions feel unhelpful or uncontrollable, and maladaptive strategies like suppression are employed, individuals may seek perceived control through pathologically 'healthy' eating. There is currently no diagnosis criteria for ON, and consequently no clear treatment pathway. Our research suggests that specific aspects of emotional functioning such as beliefs about the usefulness of emotions or difficulties with feeling out of control when upset may be a useful treatment target to help individuals with ON develop healthier coping mechanisms and reduce reliance on rigid dietary rules as a means of emotional regulation. LEVEL III: Evidence obtained from well-designed cohort or case-control analytic studies
Assessing the Greater Sciatic Notch With 2-D Shape Analysis for Sex Estimation
Get PDFA correct biological profile leads to a better understanding of the past and assists in the identification of human remains within bioarchaeology and forensic casework. Sex estimation forms a critical component of a biological profile. With the advancement of technologies such as geometric morphometrics (GMM), new methods and a deeper understanding of morphological features can be investigated digitally. However, how well do these methods compare to standard visual methods and how easy are they to employ? This research investigates the use of 2-D shape analysis and visual morphological methods for sex estimation using the greater sciatic notch (GSN). A total of 202 adult os coxae were photographed and analyzed from the Spitalfields Coffin Plate Collection housed at the Natural History Museum, UK. Each os coxae was analyzed digitally to extract a “line” for elliptical fourier analysis (EFA) and subsequent discriminant function analysis (DFA). Os coxae were also scored using two well established morphological methods for the GSN. This study found an overall accuracy of 82.81% when using the computational method (EFA and DFA). Lower accuracies were found for the visual methods with the Bruzek method correctly classifying 82.17% and the Walker method resulting in a much lower accuracy at 72.77%. The finding of this study showcases the benefits of using more computational methods such as shape analysis/GMM. However, it has a nearly identical overall error rate to the Bruzek method and higher accuracy than the Walker method and therefore is a suitable and accurate method for sex estimation. As these practices are evolving, practitioners will have to balance the cost/benefit (e.g., time, training, and accuracy) of using the different techniques while continuing to refine and combine approaches for optimal results in biological profiling
Humanising the Digital: From User Models to Civic Systems
No full textThis paper proposes a paradigm shift in how digital publics are conceptualised and modelled. Current platform monetisation relies on reductive personalisation metrics that shape incentives across infrastructure, interface, and user interaction—producing systemic effects detrimental to civic resilience and information integrity. We argue for a reconceptualisation of digital publics as emergent sociotechnical collectives, drawing on modelling approaches from live event and civic design. We outline a multi-method programme combining tabletop games, megagames, and simulations to develop and test new metrics that support alternative incentives and human-centred platform governance
The impact of perceived physician communication skills on revisit intention: A moderated mediation model
Get PDFThis study aims to evaluate the impact of perceived physician communication skills on patients’ revisit intention, focusing on the mediating role of two dimensions of trust and the moderating role of gender. While several studies on revisit intention examine the effect of service quality as a whole, this is one of the few that not only focuses solely on physician-patient communication but also examines both dimensions of trust and revisit intention with the same physician. A cross-sectional survey was employed via questionnaire distribution. A total of 265 valid responses were used for data analysis. The findings revealed that perceived physician communication skills impact trust and revisit intention.
Emotional trust was seen to have a full mediating effect on the relationship. Gender had no moderating effect on the proposed relationship, which suggests that irrespective of gender, patients’ expectations and preferences for effective communication are similar. By cultivating a supportive and empathetic attitude, physicians can create a positive emotional environment that enhances patient trust and positive behavioral intentions
