Industry-specific effect of CSR initiatives: hotels and airlines

Purpose – This study aims to examine the relationships between a firm's corporate social responsibility (CSR) activities and its performance and risk. The authors hypothesize that industry-level effects are highly determinant of the sign and magnitude of these relationships to establish a ranking of industries to identify the position of the most prominent tourism-related industries: hotels and airlines. Based on the cybernetic model of decision making and the heuristics thereof, shareholders base their investment decisions derived from CSR announcements on the idea that the industries behave differently; their fixed costs being a relevant factor. Design/methodology/approach – The authors estimate the industry-specific effects of CSR initiatives on firms' performance and risk using a sample of 583 announcements from the Spanish Stock Market. Findings – The results show that while CSR announcements have a positive effect on performance when the authors do not account for industry-specific factors, once the authors incorporate these factors into the analysis, the authors find that firm performance and risk vary quite substantially as a function of the industry to which the firm belongs. Interestingly, while the hotel industry presents an average behavior (standing at 9th position in returns, 15th in terms of risk, and 8th according to the ratio returns/volatility), the airline industry presents the worst situation of all industries: last in performance and last in risk. Practical implications – The results help managers assess their decisions and allocate CSR resources optimally. Originality/value – This article is the first attempt to empirically test and comprehensively detect the different relationships between CSR and firm performance across industries.

S-SETA: Selective Software-Only Error-Detection Technique Using Assertions

Software-based techniques offer several advantages to increase the reliability of processor-based systems at very low cost, but they cause performance degradation and an increase of the code size. To meet constraints in performance and memory, we propose SETA, a new control-flow software-only technique that uses assertions to detect errors affecting the program flow. SETA is an independent technique, but it was conceived to work together with previously proposed data-flow techniques that aim at reducing performance and memory overheads. Thus, SETA is combined with such data-flow techniques and submitted to a fault injection campaign. Simulation and neutron induced SEE tests show high fault coverage at performance and memory overheads inferior to the state-of-the-art.

Effects of infiltration pressure on mechanical properties of Al–12Si/graphite composites for piston engines

In this work results for the flexural strength and the thermal properties of interpenetrated graphite preforms infiltrated with Al-12wt%Si are discussed and compared to those for packed graphite particles. To make this comparison relevant, graphite particles of four sizes in the range 15–124 μm, were obtained by grinding the graphite preform. Effects of the pressure applied to infiltrate the liquid alloy on composite properties were investigated. In spite of the largely different reinforcement volume fractions (90% in volume in the preform and around 50% in particle compacts) most properties are similar. Only the Coefficient of Thermal Expansion is 50% smaller in the preform composites. Thermal conductivity of the preform composites (slightly below 100 W/m K), may be increased by reducing the graphite content, alloying, or increasing the infiltration pressure. The strength of particle composites follows Griffith criterion if the defect size is identified with the particle diameter. On the other hand, the composites strength remains increasing up to unusually high values of the infiltration pressure. This is consistent with the drainage curves measured in this work. Mg and Ti additions are those that produce the most significant improvements in performance. Although extensive development work remains to be done, it may be concluded that both mechanical and thermal properties make these materials suitable for the fabrication of piston engines.