Collectivism and the Costs of High Leverage

Prior literature shows that high leverage is associated with losses in market share due to unfavorable actions by customers and competitors. Building on this literature, we investigate the effect of collectivism on the product market performance of highly leveraged firms. Using a sample of 46 countries over the 1989–2016 period, we find significantly lower costs of high leverage for countries with higher collectivism scores. Moreover, we find that the impact of collectivism on high leverage costs is more pronounced for firms with high product specialization and with financially healthy rivals. In additional analysis, we find that collectivism helps highly leveraged firms retain employees and obtain trade credit from suppliers. Our findings thus suggest that a country’s culture affects corporate financial outcomes by influencing the actions of firm stakeholders

Does Corporate Social Responsibility Reduce the Costs of High Leverage? Evidence from Capital Structure and Product Market Interactions

Research on capital structure and product market interactions shows that high leverage is associated with substantial losses in market share due to unfavorable actions by customers and competitors. We examine whether corporate social responsibility (CSR) affects firms’ interactions with customers and competitors, and whether it can reduce the costs of high leverage. We find that CSR reduces losses in market share when firms are highly leveraged. By reducing adverse behavior by customers and competitors, CSR helps highly leveraged firms keep customers and guard against rivals’ predation. Our results support the stakeholder value maximization view of CSR

Willingness to Continue with Software Projects: Effects of Feedback Direction and Optimism under High and Low Accountability Conditions

The willingness of managers to continue with software projects can be both beneficial and troubling. Management optimism can help bring promising projects to fruition, but can also cause valuable resources to be expended on faltering projects. This study examines three factors that can affect the willingness of managers to continue with software projects: feedback direction, feedback optimism, and accountability. Feedback direction is the objective information reflecting project prospects. Feedback optimism is the subjective mode with which the objective information has been framed. Accountability is the extent to which the manager feels responsible for project outcomes. Results of a study that manipulated these three factors showed that the effects of feedback direction and feedback optimism on willingness to continue with software projects were additive (either factor alone affected willingness to continue with software projects) when accountability was high but were interactive (both factors jointly affected willingness to continue with software projects) when accountability was low. These findings have useful implications for practice and further research

Effects of inter-particle friction on the critical state behavior of granular materials: a numerical study

Critical state soil mechanics (CSSM) gives a theoretical framework for soil modelling. This paper investigates the effect of inter-particle friction on the critical state behavior of DEM assemblies with grading representative of a real soil. It is found that the angle of shearing resistance at the critical state increases with increasing inter-particle friction (µ) and in void ratio (e) vs logarithmic mean effective stress (log(p’)) space the critical state locii have higher e values when µ is higher. An atypical CSL in e-logp’ space that deviates from experimental observations and the classical CSSM behavior was observed when µ = 0.5. Micro-scale analyses show that this can be attributed to the emergence of a higher number of floating particles due to the increasing self-stability of strong force chains with increasing inter-particle friction. This study recommends the use of inter-particle friction lower than 0.5 in DEM simulations of element testing in soil mechanics

Design and Development of an RFID-based HIS - A Case Study

The Healthcare industry involves critical activities where small mistakes could cause huge loss of life and incur massive financial losses. Improving operational efficiency and enhancing data correctness of patients are the prime targets of using hospital information system (HIS). Radio Frequency Identification (RFID) technology, with a unique ability to perform automatic data collection without any human intervention, has gained great interest in the healthcare industry. In this research, an RFID‐enabled HIS is proposed for improving operations in a hospital. This research presents the fundamentals of RFID, the benefits and its challenges, and also demonstrates three improved signature applications. It aims at providing the healthcare industry with a comprehensive understanding of RFID and its suitability for healthcare applications. The proposed system is considered to be suitably operational, practical, and affordable for healthcare organizations not only in China and Hong Kong, but also in other countries

SARS Coronavirus Detection Methods

Using clinical samples from patients with severe acute respiratory syndrome, we showed that the sensitivities of a quantitative reverse transcription–polymerase chain reaction (80% for fecal samples and 25% for urine samples) were higher than those of the polyclonal (50% and 5%) and monoclonal (35% and 8%) antibody-based nucleocapsid antigen capture enzyme-linked immunosorbent assays

New Lymphogranuloma Venereum Chlamydia trachomatis Variant, Amsterdam

We retrospectively conducted a study of men who have sex with men who visited the Amsterdam, the Netherlands, sexually transmitted diseases clinic from January 2002 to December 2003 and had rectal Chlamydia trachomatis infections. We found that symptomatic (73%) as well as asymptomatic (43%) patients were infected with a new C. trachomatis LGV variant