A Continuation of the Happiness Success Story: Does Happiness Impact Service Quality?

A Continuation of the Happiness Success Story: Does Happiness Impact Service Quality? The effects of long-term happiness on various outcomes for the individual and society have been studied extensively in psychology but the concept has so far received limited research attention in marketing. Happiness is defined as a summary judgment of one’s life. Previous research has shown that happiness is a relatively stable perception of happiness in one’s life. Thus, happiness in this thesis is long-term and more global as a phenomenon than in the marketing literature, where happiness is commonly conceptualized as an emotion, feeling or momentary state of happiness. Although there is plenty of research on consumer affect and its impact on service responses, there are no studies on the effect of long-term happiness on service evaluation. As empirical evidence suggests that happy people perceive smaller and bigger events in life more positively than less happy people and that happy people are more prone to experience positive feelings and less of negative feelings it was hypothesized that happiness affects service quality directly but also indirectly through mood. Therefore, in this thesis, it was set out to explore if happiness affects customer-perceived service quality. A survey method was adopted to study the relationship between happiness, mood and service quality. Two studies were conducted with a total of 17 investigated services. Out of the 17 different investigated cases, happiness was found to positively affect service quality in only four cases. The results from the two studies also provide weak support for a positive relationship between mood and service quality. Out of the 17 cases, mood was found to positively affect service quality in only three cases and the results provide additional evidence for the stream of literature arguing that affect plays no or only a minimal role in service quality. Based on the collective results in this study, it can be concluded that the evidence for a positive relationship between happiness, mood and service quality is weak. However, in this thesis, it was recognized that the happiness concept is relevant for marketers and serve potential to explain marketing related phenomena. Marketing researchers who are interested in studying happiness are advised to focus research attention on consumer well-being.

The Impact of the EMU on International Portfolio Investments

This paper analyses the impact of the launch of the European Monetary Union (EMU) on the allocation of international portfolio investments. The initiation of the EMU provides an opportunity for comparison of competing theoretical explanations for investment behavior. Models stressing the diversification motive would predict that the increased dependence between countries participating in the EMU should reduce the attractiveness of portfolio holdings in other EMU countries. Models based on asymmetric information would instead emphasize the increased intensity in the flow of information resulting from an increase in cross border transactions between the EMU countries. The consequent decline in information asymmetry should increase, rather than reduce portfolio holdings in other EMU countries. Our results based on the allocation of Finnish foreign portfolio investment support the information-based explanation against predictions based on the diversification motive.

The Impact of New Capital Requirements on the Portfolio Decisions of Finnish Pension Institutions

This paper examines the potential impact of new capital requirements on asset allocations of Finnish pension institutions. We describe the new requirements and consider portfolio construction to minimize regulatory capital, given the investor’s preferred level of expected return. Results identify portfolio transactions that enhance expected return without increasing capital needs. Regulation calls for portfolio diversification and prudence in management, but this paper shows that market participants can exploit inconsistencies in regulation. Possible future consequences include capital outflows from the pension system and an unintended decrease in pre-funding of old-age pensions.

The impact of stock option incentives on investment and firm value

This paper analyzes the relations among firm-level stock option portfolio incentives, investment, and firm value based on a sample of Finnish firms during the time period 1987 – 2000. Utilizing exact and complete information regarding stock option portfolio characteristics, we find some evidence that firm investment is increasing in the incentives to increase stock price (delta) and risk (vega). Furthermore, we find strong evidence of a positive relation between both incentive effects and firm value (Tobin’s Q). In contrast, when we allow for stock option incentives, investment, and firm value to be simultaneously determined, we find no evidence that investment is increasing in incentives. However, even after controlling for endogeneity, we find that both incentive effects arising from stock option compensation display a positive and significant effect on firm value. Finally, in contradiction to earlier findings, we observe that neither Tobin’s Q nor investment drives incentives.

Robust prediction of residual velocities and ballistic limits of projectiles for impact on thin aluminium plates

This paper deals with the simulation-driven study of the impact of hardened steel projectiles on thin aluminium target plates using explicit finite element analysis as implemented in LS-DYNA. The evaluation of finite element modelling includes a comprehensive mesh convergence study using shell elements for representing target plates and the solid element-based representation of ogivalnosed projectiles. A user-friendly automatic contact detection algorithm is used for capturing interaction between the projectile and the target plate. It is shown that the proper choice of mesh density and strain rate-dependent material properties is crucial as these parameters significantly affect the computed residual velocity. The efficacy of correlation with experimental data is adjudged in terms of a 'correlation index' defined in the present study for which values close to unity are desirable.By simulating laboratory impact tests on thin aluminium plates carried out by earlier investigators, extremely good prediction of experimental ballistic limits has been observed with correlation indices approaching unity. Additional simulation-based parametric studies have been carried out and results consistent with test data have been obtained. The simulation procedures followed in the present study can be applied with confidence in designing thin aluminium armour plates for protection against low calibre projectiles.

Electrochemical reduction of oxygen on gold and boron-doped diamond electrodes in ambient temperature, molten acetamide-urea-ammonium nitrate eutectic melt

The electrochemical reduction of oxygen has been studied on gold, boron-doped diamond (BDD) and glassy carbon (GC) electrodes in a ternary eutectic mixture of acetamide (CH3CONH2), urea (NH2CONH2) and ammonium nitrate (NH4NO3). Cyclic voltammetry (CV), differential pulse voltammetry (DPV), chronoamperometry and rotating disk electrode (RDE) voltammetry techniques have been employed to follow oxygen reduction reaction (ORR). The mechanism for the electrochemical reduction of oxygen on polycrystalline gold involves 2-step. 2-electron pathways of O-2 to H2O2 and further reduction of H2O2 to H2O. The first 2-electron reduction of O-2 to H2O2 passes through superoxide intermediate by 1-electron reduction of oxygen. Kinetic results suggest that the initial 1-electron reduction of oxygen to HO2 is the rate-determining step of ORR on gold surfaces. The chronoamperometric and ROE studies show a potential dependent change in the number of electrons on gold electrode. The oxygen reduction reaction on boron-doped diamond (BOO) seems to proceed via a direct 4-electron process. The reduction of oxygen on the glassy carbon (GC) electrode is a single step, irreversible, diffusion limited 2-electron reduction process to peroxide. (C) 2010 Elsevier Ltd. All rights reserved.

Dephosphorisation of Iron–Chrome Alloy with Ca–CaF2 Melt during Electro Slag Refining

Calcium-calcium fluoride melt was used to remove phosphorus from the ferro-chrome alloy (64.5 wt% Cr, 0.15 wt% P) during electro slag refining process. The effect of atmosphere and deoxidisers, viz. Al, Fe–Mo and misch metal were also studied during dephosphorisation reaction. The thermodynamic properties of Ca–CaF2 melt is calculated from a known phase diagram and these results are discussed in relation with the dephosphorisation reaction.

The Impact of FDI on International Portfolio Investments

Some empirical research has argued that part of the reason for the observed "home bias" is that investors are able to indirectly achieve internationally diversified portfolios via domestically listed multinational firms. Another branch of this research attributes the "home bias" and country allocations to more deeply rooted informational causes. Using a four-year annual panel of Finnish international portfolios and Foreign Direct Investments in twenty-five countries, I provide evidence consistent with an information asymmetry explanation

Contraception in Namibia : usage, methods and the impact of education

Användningen av preventivmedel har blivit en allt viktigare fraga i utvecklingsländerna idag, speciellt i Namibia dar fruktsamheten och HIV-prevalensen är höga. Kondomen är det enda allmänt tillgängliga preventivmedlet som skyddar mot könssjukdomar, medan ocksä injektioner, p-piller och andrà metoder kan användas för att förhindra graviditet. Användningen av preventivmedel har upptäckts korrelera med vissa sociodemografiska faktorer, bland annat utbildningsnivå och förmögenhet. Malet med denna undersökning var att studera användningen av preventivmedel, avsikter att använda preventivmedel samt kunskap om HIV/AIDS och andra könssjukdomar bland kvinnor i Namibia. Detta gjordes frän ett historiskt perspektiv genom att studerà användningsmönster frän 1990 till slutet av 2000-talet. Dessutom undersöktes sociodemografiska faktorers, speciellt utbildningens, inverkan på användningen av preventivmedel, likasä sambandet mellan skolningsnivå och preventivmedelsanvändning pä regionnivå. Undersökningen gjordes utgäende frän statistiska Namibia Demographic and Health Survey -material samlade 1992, 2000 och 2006-2007. Prevalenser och användningen av specifika metoder studerades skilt för olika bakgrundsvariabler 1992, 2000 och 2006-2007, och enligt utbildningsnivå och region är 2006-2007. Utbildning mattes skilt pä individ- och aggregatnivå. Sambandet mellan preventivmedelsanvändning och utbildning undersöktes med hjälp av logistisk regression, i vilken sociodemografiska bakgrundsfaktorer kontrollerades i sex modeller. Resultaten visade att användningen av preventivmedel har fördubblats sedan början av 1990-talet. Skillnader mellan kvinnor med olika utbildningsnivåer existerade redan i början av 1990-talet, likaså mellan olika yrkesgrupper. Undersökningen visade att högre utbildning ökar på reventivmedelsanvändningen, också då sociodemografisk bakgrundfaktorer, även utbildning och användning av preventivmedel på aggregatnivå, kontrollerades. Undersökningen antyder att utbildning på aggregatnivå inte ensam påverkar användningen av preventivmedel hos en individ. De sistnämnda resultaten var dock inte statistiskt signifikanta och kan inte generaliseras över namibiska kvinnor i allmänhet.

Outward spherical solidification of a superheated melt with time dependent boundary flux

Short-time analytical solutions of solid and liquid temperatures and freezing front have been obtained for the outward radially symmetric spherical solidification of a superheated melt. Although results are presented here only for time dependent boundary flux, the method of solution can be used for other kinds of boundary conditions also. Later, the analytical solution has been compared with the numerical solution obtained with the help of a finite difference numerical scheme in which the grid points change with the freezing front position. An efficient method of execution of the numerical scheme has been discussed in details. Graphs have been drawn for the total solidification times and temperature distributions in the solid.