Reconstructing ethical conduct within financial firms

This chapter explores whether ethical cultures can be created within a financial market context. Ongoing regulatory and legal actions, and press coverage of these, suggest that a definition of ethical problems in terms of ‘rogue traders’ and ‘bad apples’ would be inadequate, since entire business areas have been resorting to collusive illegal behaviour. The concept of ‘bad barrels’ seems to capture the situation rather better: the culture of firms fails to discourage transgression and indeed supports it. Unpacking the links between regulatory objectives and the cultural settings of firms and their employees, this chapter questions the chances of success of measures such as enhanced controls on individuals and restructured reward mechanisms. Financial firms typically have very flat, nodal structures, within which traders conceptualise themselves as an elite, in contrast to back office staff and also in contrast to managers. Traders’ functions and their occupational mobility mean that their linkages and attachments may be much stronger with others outside ‘their’ firm than their firm and those within it. Performance, camaraderie and their linkages are important in all work situations, yet all the more so for traders in financial markets. Thus, whether regulators and senior management combine to send a clear and consistent message to traders – or whether the logic of the financial marketplace leads some firms to continue send conflicting or ambivalent messages to them – misconduct is likely to continue to be a tough nut to crack.

Accounting for clean, fast and high yielding reactions under microwave conditions

Thermal reactions proceed optimally when they are rapidly heated to the highest tolerable temperature, held there for the shortest possible time and then quenched. This is explained through assessments of reaction kinetics in literature examples and models. Although presently available microwave equipment is better suited to rapid heating than resistance-heated systems, the findings do not depend upon the method of heating. Claims that microwave heated reactions proceed faster and more cleanly than their conventionally heated counterparts are valid only when comparably rapid heating and cooling cannot be obtained by conventional heating. These findings suggest that rigid adherence to the sixth principle of green chemistry, relating to the use of ambient temperature and pressure, may not always afford optimal results. © 2010 The Royal Society of Chemistry.

A 1-D Vaneless Diffuser Model Accounting for the Effects of Spanwise Flow Stratification

The radial vaneless diffuser, though comparatively simple in terms of geometry, poses a significant challenge in obtaining an accurate 1-D based performance prediction due to the swirling, unsteady and distorted nature of the flow field. Turbocharger compressors specifically, with the ever increasing focus on achieving a wide operating range, have been recognised to operate with significant regions of spanwise separated flow, particularly at off design conditions.
Using a combination of single passage Computational Fluid Dynamics (CFD) simulations and extensive gas stand test data for three geometries, the current study aims to evaluate the onset and impact of spanwise flow stratification in radial vaneless diffusers, and how the extent of the aerodynamic blockage presented to the flow throughout the diffuser varies with both geometry and operating condition. Having analysed the governing performance parameters and flow phenomena, a novel 1-D modelling method is presented and compared to an existing baseline method as well as test data to quantify the improvement in prediction accuracy achieved.

A 1-D radial vaneless diffuser model accounting for the effects of aerodynamic blockage

The radial vaneless diffuser, though comparatively simple in terms of geometry, poses a significant challenge in obtaining an accurate 1-D based performance prediction due to the swirling, unsteady and distorted nature of the flow field. Turbocharger compressors specifically, with the ever increasing focus on achieving a wide operating range, have been recognised to operate with significant regions of spanwise separated flow, particularly at off-design conditions.

Using a combination of single passage Computational Fluid Dynamics (CFD) simulations and extensive gas stand test data for three geometries, the current study aims to evaluate the onset and impact of spanwise aerodynamic blockage in radial vaneless diffusers, and how the extent of the blocked region throughout the diffuser varies with both geometry and operating condition. Having analysed the governing performance parameters and flow phenomena, a novel 1-D modelling method is presented and compared to an existing baseline method as well as test data to quantify the improvement in prediction accuracy achieved.

Additionality of Incubator Support on Networks of University Spin-Out Firms

The formation rate of university spin-out firms has increased markedly over the past decade. While this is seen as an important channel for the commercialisation of academic research, concerns have centred around high failure rates and no-to-low growth among those which survive compared to other new technology based firms. Universities have responded to this by investing in incubators to assist spin-outs to overcome their liability of newness. Yet how effective are incubators in supporting these firms? Here we examine this in terms of the structural networks that spin-out firms form, the role of the incubator in this and the effect of this on the spin-out process.

Improved model for interfacial stresses accounting for the effect of shear deformation in plated beams

A significant increase in strength and performance of reinforced concrete, timber and metal beams may be achieved by adhesively bonding a fibre reinforced polymer composite, or metallic such as steel plate to the tension face of a beam. One of the major failure modes in these plated beams is the debonding of the plate from the original beam in a brittle manner. This is commonly attributed to the interfacial stresses between the adherends whose quantification has led to the development of many analytical solutions over the last two decades. The adherends are subjected to axial, bending and shear deformations. However, most analytical solutions have neglected the effect of shear deformation in adherends. Few solutions consider this effect approximately but are limited to one or two specific loading conditions. This paper presents a more rigorous solution for interfacial stresses in plated beams under an arbitrary loading with the shear deformation of the adherends duly considered in closed form using Timoshenko’s beam theory. The solution is general to linear elastic analysis of prismatic beams of arbitrary cross section under arbitrary loading with a plate of any thickness bonded either symmetrically or asymmetrically with respect to the span of the beam.

Improved shear strength model for FRP-strengthened RC beams accounting for adverse FRP-steel interaction

RC beams shear-strengthened with externally-bonded FRP side strips or U-strips usually fail by debonding. As such debonding occurs in a brittle manner at relatively small shear crack widths, some of the internal steel stirrups may not have reached yielding at beam shear failure. Consequently, the internal steel stirrups cannot be fully utilized. This adverse shear interaction between internal steel stirrups and external FRP strips may significantly reduce the benefit of shear-strengthening FRP but has not been considered by any of the existing FRP strengthening design guidelines. In this paper, an improved shear strength model capable of accounting for the effect of the above shear interaction is first presented, in which the unfavorable effect of shear interaction is reflected through a reduction factor (i.e. shear interaction factor). Using a large test database established in the present study, the performance of the proposed model as well as that of three other shear strength models is then assessed. This assessment shows that the proposed shear strength model performs better than the three existing models. The assessment also shows that the inclusion of the proposed shear interaction factor in the existing models can significantly improve their performance.

Studying administrative reforms through textual analysis: the case of Italian central government accounting

This paper contributes to the literature on public-sector reforms by proposing textual analysis as a useful research strategy to explore how reform archetypes and related ideas are deployed in the parliamentary debate and regulations advancing reforms. Public Administration (PA) (Wilson 1887; Weber 1922), New Public Management (NPM) (Hood 1991, 1995; Dunleavy and Hood 1994; Ferlie et al. 1996) and Public Governance (GOV) (Osborne 2010; Rhodes 1997) can be depicted as three different archetypes providing characteristic administrative ideas and concepts (i.e. interpretive schemes) and related tools and practices (i.e. structures and systems) which lead reforms. We use textual analysis to look into more than twenty years of Italian central government accounting reforms and investigate how the three administrative archetypes have evolved, intertwined and replaced each other. Textual analysis proves a useful tool to investigate reform processes and allows highlighting that in neo-Weberian countries, such as Italy, NPM and GOV, far from being revolutionary paradigms, may represent fashionable trends that did not leave significant traces in the practice and rhetoric of reforms. These results also suggest interesting implications for practitioners and policy makers.

Managerial Representations of Achieving Competitive Advantage in Architectural Firms within the United Kingdom

Purpose - The purpose is to unearth managerial representations of achieving competitive advantage in relation to architectural firms operating within the United Kingdom (UK).
Design/Methodology/Approach - A sequential qualitative methodology is applied, underpinned by nine managerial interviews in five architectural practices; all of which are analysed using computer assisted qualitative data analysis software.
Findings - 108 representations are identified with highly rated concepts discussed in detail. Subsequently, the leading concepts include reputation, client satisfaction, fees and staff resources, among others.
Research Limitations/Implications - There are numerous studies conducted on this subject; however, there has been no research done to date documenting managerial representations within the UK on achieving competitive advantage in the context of architectural firms.
Practical Implications – The need for architectural firms to develop a competitive advantage within their market sector is ever more apparent, particularly during times of increased competitiveness.
Originality/Value – This paper fulfils a gap in knowledge by contributing to underlying research on the subject of competitive advantage, but focusing on the managerial representations, specifically within UK practices. The findings are of relevance to architects in both the UK and beyond, as well as perhaps forming the basis of identifying further research with the area.