The corporate credit risk literature has many studies modelling the change in the credit risk of corporate bonds over time. There is far less analysis of the credit risk for portfolios of consumer loans. However behavioural scores, which are commonly calculated on a monthly basis by most consumer lenders are the analogues of ratings in corporate credit risk. Motivated by studies in corporate cr...

We investigate whether controlling shareholders expropriate corporate resources during a financial crisis using the data of Thai firms. Our results are consistent with the argument of Friedman, Johnson, and Mitton (2003) that the propensity to tunnel and prop is higher for business groups in particular if they are organized in pyramids. Specifically, we find that firms that belong to the top 30...

The paper shows that variables commonly used in takeover prediction models also help to explain the likelihood of several other restructuring events, including divestitures, bankruptcies and significant employee layoffs. This finding helps to explain the larger misclassification errors in binomial takeover prediction models commonly used in prior research. The results show that modelling takeov...

Binder jetting is an emerging indirect additive manufacturing technique for ceramic materials, which could be employed to produce application-oriented designed components impossible achieve with traditional processes and featuring enhanced performances. In our study, niobium-doped lead zirconate titanate (PZT-N) powder, usually processed through the standard press-and-sinter route, was as raw m...

We present the piezoelectric properties of multi-poled network microstructures based on cross, Gibson-Ashby and face-centred cubic base cells at a range solid fractions with different polarisation profiles. Piezoelectric are determined via computational homogenisation finite element method. Each profile is triple-poled, so it includes material poled in x, y z directions. The result this that ho...

A prudential framework is an important element in facilitating the successful integration of Islamic financial services to the global financial system. In recognition of this need, various stakeholders decided to establish the Islamic Financial Services Board (IFSB) to spearhead the development of a uniform set of prudential, supervisory and disclosure standards for the Islamic financial s...

The aim of this work is to analyze the factors that help companies avoid liquidation following spirit Spanish insolvency law. This focuses on phase starting when file for bankruptcy and ending with completion common phase. We apply agency theory explain how administrators court characteristics influence outcome process (liquidation or reorganization). unique accounting data from 2,627 filed dur...

This work presents the next leap in piezoelectric all-ceramic composites fabricated at ultra low temperatures. The “Upside-down” composite method is further developed and instead of water-soluble lithium molybdate used our earlier study, an organotitanate based precursor gel as a binder. Utilizing heat pressure transforms into titanium oxide which, together with lead zirconate titanate particle...

The structural health monitoring of composite laminates is a rapidly emerging need in applications. Different real-time sensors integrated into have been proposed, such as fiber Bragg gratings and piezoceramics. However, their presence negatively affects the mechanical properties hosting laminate. This work proposes non-invasive method for piezoelectric functionalization by interleaving lead zi...