Currency quality and changes in the behavior of depository institutions

Banks and banking

Large Eddy Simulation of Turbulent Channel Flows by the Rational LES Model

The rational large eddy simulation (RLES) model is applied to turbulent channel flows. This approximate deconvolution model is based on a rational (subdiagonal Pade') approximation of the Fourier transform of the Gaussian filter and is proposed as an alternative to the gradient (also known as the nonlinear or tensor-diffusivity) model. We used a spectral element code to perform large eddy simulations of incompressible channel flows at Reynolds numbers based on the friction velocity and the channel half-width Re{sub tau} = 180 and Re{sub tau} = 395. We compared the RLES model with the gradient model. The RLES results showed a clear improvement over those corresponding to the gradient model, comparing well with the fine direct numerical simulation. For comparison, we also present results corresponding to a classical subgrid-scale eddy-viscosity model such as the standard Smagorinsky model.Comment: 31 pages including 15 figure

The experience of positive psychology coaching following unconscious bias training: An Interpretative Phenomenological Analysis

This study explored the lived experience of four professionals who engaged in positive psychology coaching following an implicit association test and unconscious bias training. Unconscious bias training focuses on a human limitation, avoidance goals, and can result in defensiveness. In contrast, positive psychology coaching leverages strengths, intrinsically motivated approach goals and positive affect. Interpretative phenomenological analysis was applied to analyse data gathered via semi-structured interviews. Findings reveal that participants were self-conscious about being perceived negatively and they experienced deep introspection and reflexivity. Participants also reported increased self-efficacy, motivation to improve and feeling safe to discuss previously avoided personal issues

Trust in financial services: the influence of demographics and dispositional characteristics

So far, very little attention has been paid to examining consumer perceptions of trust from an interdisciplinary perspective. The purpose of this study is to examine how consumer trusting belief and disposition to trust within the financial services sector vary on the basis of individual demographic differences in trust. The research provides new insights into how consumers with higher dispositional trust have higher institutional trust and higher trusting belief and how consumers’ trusting belief significantly differs according to their demographic background in terms of age, marital status, ethnicity and gross annual income. The findings offer useful insights for the managers in financial institutions to carefully consider the impact of the influence of these individual differences on consumer behaviour in order to serve the needs of consumers in their target market and be able to design financial products and develop trust building strategies to attract and retain them. They also call for the action of the regulators and the financial institutions to play their part in building strong institutional systems that contribute to engendering higher levels of consumer trust

Trust in financial services: Retrospect and prospect

Fostering and maintaining high levels of trust in the financial services sector is seen as crucial because of the characteristics of many financial service and in order to promote consumer engagement in the sector. In this article, we report evidence from a body of work and other commentary to provide an insight into trends in consumer trust in the sector as a whole, in comparison with other organisations and how different types of financial services provider have performed relative to each other. We show that the financial services sector as a whole is trusted more than some comparator institutions, and that aggregate levels of trust in the sector have fluctuated a relatively small amount subsequent to the financial crisis. However, important differences between provider types are apparent and these differences have become more profound in the recent past. We provide suggestions as to how trust in the sector may be improved and provider an analysis of current initiatives to improve trust levels in the sector in general and in banking in particular

Using LES to Study Reacting Flows and Instabilities in Annular Combustion Chambers

Great prominence is put on the design of aeronautical gas turbines due to increasingly stringent regulations and the need to tackle rising fuel prices. This drive towards innovation has resulted sometimes in new concepts being prone to combustion instabilities. In the particular field of annular combustion chambers, these instabilities often take the form of azimuthal modes. To predict these modes, one must compute the full combustion chamber, which remained out of reach until very recently and the development of massively parallel computers. Since one of the most limiting factors in performing Large Eddy Simulation (LES) of real combustors is estimating the adequate grid, the effects of mesh resolution are investigated by computing full annular LES of a realistic helicopter combustion chamber on three grids, respectively made of 38, 93 and 336 million elements. Results are compared in terms of mean and fluctuating fields. LES captures self-established azimuthal modes. The presence and structure of the modes is discussed. This study therefore highlights the potential of LES for studying combustion instabilities in annular gas turbine combustors

Sufism and Liberation across the Indo-Afghan Border: 1880-1928

How do we understand links between sufism and pro-egalitarian revolutionary activism in the early twentieth century; and how did upland compositions of self and community help constitute revolutionary activism in South Asia more broadly? Using Pashto poetry as my archive I integrate a history of radical egalitarian thought and political practice to a holistic study of self-making; of imperial spatiality; and of shifting gradients of power in the regions between Kabul and Punjab. Amid a chaotic rise of new practices of imperial and monarchic hegemony around the turn of the twentieth century, I argue, older sedimentations of ‘devotee selfhood’ in the high valleys of eastern Afghanistan gave rise, in social spaces preserved by self-reflexive poetic practice and circulation, to conscious desires for avoidance of all forms of hierarchy or sovereignty, in favour of a horizontal politics of reciprocity. Such inchoate drives for freedom later played a role in constituting anti-statist revolutionary subjectivities across great geographical and social distance. From upland sufi roots they rippled outward to intersect with the work of transnational socialist and anti-imperialist militants in Indian nationalist circles too; and even influenced scholars at the heart of the nascent Afghan nation-state

Trust and FinTech:A review and research agenda

The primary objective of this paper is to formulate a detailed research agenda focussed on trust in the context of FinTech. To achieve this objective, conceptualisations of trust and related constructs are reviewed, and a detailed model of trust is developed. The domain of FinTech is then introduced and is taken to include current and emerging innovations in financial services incorporating aspects of big data and AI, as well as open and decentralised finance and crypto assets. Typologies of FinTech services are also explored. Arguments concerning the importance of trust in financial services are then reviewed, along with prior studies of trust in the context of financial services. Nascent research into trust and FinTech is emerging, but many important questions remain, such as (a) to what degree are traditional definitions and conceptualisations of trust germane to aspects of FinTech and what adaptations or additional factors may be beneficial? (b) from both the trustor’s and trustee’s perspective, what are the relevant objects of dependence that form the focus of the trust relationship in the context of FinTech? (c) are views on the importance of trust consistent across elements of the FinTech domain including big data and AI and open, decentralised, and crypto finance? (d) how best to measure and evaluate levels of trust in FinTech? (e) what are the antecedents and consequences of trust in FinTech and other related questions? Thus, a comprehensive and nuanced exposition of trust and its impact in relation to the gamut of activities encompassed under the FinTech moniker would add significantly to collective understanding.</p

TRUST IN CROSS-CULTURAL B2B FINANCIAL SERVICE RELATIONSHIPS: THE ROLE OF SHARED VALUES

This is the accepted version of the following article: Houjeir, R. & Brennan, R. J, 'Trust in cross-cultural b2b financial service relationships: The role of shared values', Journal of Financial Services Marketing, June 2016, Vol 21(2): 90-102 The final publication is available at Springer via http://dx.doi.org/10.1057/fsm.2016.4Trust in business-to-business supplier–customer relationships in financial services is an area of considerable research interest. The bulk of prior empirical research in this field has concentrated on trust in business relationships within a Western cultural context. However, shared values are acknowledged to be an important antecedent to trust. The premise of this study is that in circumstances where there are substantial cultural differences between parties to a supplier–customer relationship, these differences will be reflected in shared values, which will in turn be reflected in differences in the nature of trust. A qualitative study was conducted among business bankers and their corporate clients in the context of the United Arab Emirates. In all 170 respondents were interviewed; of these, 160 were paired respondents, that is, where a client and banker from the same business relationship were interviewed (yielding 80 interview dyads). Substantial differences with respect to trust were found between relationships that involved only Emiratis, those that involved Emiratis and non-Emiratis, and those that involved only non-Emiratis. For Emiratis mutual trust is substantially based on family and clan ties and exhibits strongly affective characteristics. For non-Emiratis trust is largely based on business considerations, and exhibits strongly cognitive characteristics.Peer reviewedFinal Accepted Versio

Thermal Conduction in Magnetized Turbulent Gas

Using numerical methods, we systematically study in the framework of ideal MHD the effect of magnetic fields on heat transfer within a turbulent gas. We measure the rates of passive scalar diffusion within magnetized fluids and make the comparisons a) between MHD and hydro simulations, b) between different MHD runs with different values of the external magnetic field (up to the energy equipartition value), c) between thermal conductivities parallel and perpendicular to magnetic field. We do not find apparent suppression of diffusion rates by the presence of magnetic fields, which implies that magnetic fields do not suppress heat diffusion by turbulent motions.Comment: 4 pages; 2 figures; submitted to Ap