Browsing by Type "Book"

Now showing 1 - 6 of 6
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    Publication
    Hedging, corporate governance and firm value: Empirical evidence on risk management from an emerging market
    (Nova Science Publishers, Inc., 2017)
    Islam S.M.N.
    ;
    Hussin B.M.
    ;
    7202012941
    ;
    57197712665
    Corporate risk management policy is essential during a period of volatile commodity prices and exchange rates in managing the risk exposure and its consequent impact on cash flow, profitability and firm value. Debates on whether hedging with derivatives practically enhances firm value through market imperfections, however, are still on-going. Hitherto, conflicting and mixed empirical evidence supported the debates in financial risk management theories. Taking into account that the contradictions among the existing literature could possibly be caused by the problem of endogeneity among variables and firm heterogeneity or fixed effects due to differences in corporate governance, this book explores the interrelationship between commodity risk exposure, hedging, corporate governance and firm value in an emerging market, using Malaysia as a case study. It provides the major findings in this area and the conclusions for strategies and insights for further generalisation in wider capital markets from the perspective of an emerging market of the Asia-Pacific region. Three main econometrics models are applied in this book. The first model estimates the commodity risk exposure of non-financial companies in the Malaysian stock exchange as a case study, and its implications for corporate hedging policy, by examining two sets of commodities; namely crude oil and palm oil. The commodity risk exposures were estimated by employing the augmented ordinary least squares (OLS) market model. Probit and tobit models were applied to assess the effect of risk exposure on corporate risk management policy. The results conclude that commodity risk exposure significantly affects the hedging policy of Malaysian firms. The second set of models examined the impact of hedging on firm value, using 420 firm-year observations (2004 to 2009). The results strongly support the positive effect of hedging on firm value. Both univariate and multivariate analysis support the hypothesis that a company�s decisions to hedge � as well as the extent of its hedging � lead to higher firm value. The results remain robust by comparing pooled-OLS regressions, fixed-effects panel analysis, two-stage least squares and generalised methods of moments (GMM). The third model investigates the effect of corporate governance on hedging using probit and tobit regressions. This book presents major empirical findings for the relationship between risk management, corporate governance and firm value, and their general implications for capital markets. The empirical and general findings discussed in this book strongly support managerial risk aversion theory, which posits that firms with a higher proportion of directors� shareholdings are likely to hedge more. The findings also revealed that firm size is positively related to hedging, that geographically diversified firms are more likely to hedge and have higher hedging activity, and that firms with higher cash holdings and lower dividend pay-outs are less likely to hedge. As a conclusion for policy implication, the findings emphasise the need for greater transparency and disclosure of commodity price risks and hedging policy in corporate financial statements in an emerging market. � 2017 by Nova Science Publishers, Inc. All rights reserved.
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    Publication
    The Internet of Mechanical Things: The IoT Framework for Mechanical Engineers
    (CRC Press, 2022)
    Hajjaj S.S.H.
    ;
    Gsangaya K.R.
    ;
    55812832600
    ;
    57216542136
    This book provides knowledge, skills, and strategies an engineer requires to effectively integrate Internet of Things (IoT) into the field of mechanical engineering. Divided into three sections named IoT Strategies, IoT Foundation topics, and IoT system development, the volume covers introduction to IoT framework, its components, advantages, challenges, and practical process for effective implementation of IoT from mechanical engineering perspective. Further, it explains IoT systems and hands-on training modules, implementation, and execution of IoT Systems. Features: Presents exclusive material on application of IoT in mechanical engineering. Combines theory and practice including relevant terminologies and hands-on. Emphasis on use of IoT to streamline operations, reduce costs, and increased profits. Focusses on development and implementation of Raspberry Pi and Arduino based IoT systems. Illustrates use IoT data to improve performance of robots, machines, and systems. This book aims at Researchers, Graduate students in Mechanical Engineering, Computer Programming, Automobile, Robotics, and Industry 4.0/automation. � 2022 Sami Salama Hussen Hajjaj and Kisheen Rao Gsangaya. All rights reserved.
      7
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    Publication
    Kings, country and constitutions: Thailand's political development 1932-2000
    (Taylor and Francis, 2013)
    Suwannathat-Pian K.
    ;
    56409915600
    Provides a detailed analysis of Thailand's political development since 1932, when Thailand became a constitutional monarchy, until the present. It examines the large number of different versions of the constitution which Thailand has had since 1932, and explains why the constitution has been subject to such frequent change, and why there have been so many outburstsof violent, political unrest. It explores the role of the military, and, most importantly, di cusses the role of the monarchy, which, as the author shows, has been crucial in holding Thailand together through the various changes of regime. The author brings to light original and largely unseen documents from the Public Records Office and US National Archives, as well as drawing upon her extensive knowledge of politics in Thailand. � 2003 Kobkua Suwannathat-Pian
      5
  • No Thumbnail Available
    Publication
    Kings, country and constitutions: Thailand�s political development 1932-2000
    (Taylor and Francis, 2012)
    Suwannathat-Pian K.
    ;
    56409915600
    Providing a detailed analysis of Thailand's political development since 1932, when Thailand became a constitutional monarchy, until the present, this book examines the large number of different versions of the constitution which Thailand has had since 1932, and explains why the constitution has been subject to such frequent change, and why there have been so many outbursts of violent, political unrest. It explores the role of the military, and, most importantly, discusses the role of the monarchy, which, as the author shows, has been crucial in holding Thailand together through the various changes of regime. The author brings to light original and largely unseen documents from the Public Records Office and US National Archives, as well as drawing upon her extensive knowledge of politics in Thailand. � 2003 Kobkua Suwannathat-Pian All rights reserved.
      4
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    Publication
    Principles of Multiple-Liquid Separation Systems: Interaction, Application and Advancement
    (Elsevier, 2023)
    Chew K.W.
    ;
    Chia S.R.
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    Show P.L.
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    57192980692
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    57194081866
    ;
    47861451300
    Principles of Multiple-Liquid Separation Systems: Interaction, Application and Advancement describes the basic principles and advancements of multiple-liquid separation systems in downstream processing. Several important elements are included, such as the fundamental process and mechanisms of the multiple-liquid separation system, key principles of the interaction between different solvents and phase components, applications, and green solvents for the separation system. Furthermore, the book gives insights in commercializing this separation technique to industrial scale and making the process environmentally and economically sustainable. The book also presents constructive critics of this separation technique for both past and the latest findings. � 2023 Elsevier Inc. All rights reserved.
      15
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    Publication
    Smart Electrical and Mechanical Systems: An Application of Artificial Intelligence and Machine Learning
    (Elsevier, 2022)
    Sehgal R.
    ;
    Gupta N.
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    Tomar A.
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    Sharma M.D.
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    Kumaran V.
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    57202592183
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    57143416900
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    57193687676
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    56287958400
    ;
    57879908900
    Smart Electrical and Mechanical Systems: An Application of Artificial Intelligence and Machine Learning is an international contributed work with the most up-to-date fundamentals and conventional methods used in smart electrical and mechanical systems. Detailing methods and procedures for the application of ML and AI, it is supported with illustrations of the systems, process diagrams visuals of the systems and/or their components, and supportive data and results leading to the benefits and challenges of the relevant applications. The multidisciplinary theme of the book will help researchers build a synergy between electrical and mechanical engineering systems. The book guides readers on not only how to effectively solve problems but also provide high accuracy needed for successful implementation. Interdisciplinary in nature, the book caters to the needs of the electrical and mechanical engineering industry by offering details on the application of AI and ML in robotics, design and manufacturing, image processing, power system operation and forecasting with suitable examples. � 2022 Elsevier Inc. All rights reserved.
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