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The purpose of this paper is to determine and compare the tribological characteristics (weight wear and friction moment) of a friction couple C45/C330 at running‐in with motor oil SAE 30 and different friction modifiers of copper oleate and zinc oleate.

Friction couples are tested using the model “roller‐sector” and they are lubricated with oil SAE 30 and two other samples of SAE 30 containing 0.6 per cent copper oleate and 0.6 per cent zinc oleate, respectively. Graphic dependencies are drawn for the weight wear of the sectors, rollers and couples; as well as for the running‐in moment, the friction moments at the end of the loading and at the end of the test.

The weight wear, running‐in moment and friction moments are evaluated for friction with SAE 30 as reference and oils containing copper oleate and zinc oleate as friction modifiers. The best performing material is the oil with zinc oleate.

From a practical point of view this paper offers a new idea about a friction modifier – zinc oleate. Data for tribological characteristics and suitable concentration in the oil composition are given in the paper.

Reuse of construction and demolition (C&D) waste as aggregates is becoming increasingly popular for a number of environmental and economic reasons. The purpose of this paper is to explore this topic.

In this study, structural‐ and pavement‐grade portland cement concrete (PCC) mixtures were developed using crushed recycled brick masonry from a demolition site as a replacement for conventional coarse aggregate. Prior to developing concrete mixtures, testing was performed to determine properties of whole clay brick and tile, as well as the crushed recycled brick masonry aggregate (RBMA), and a database of material properties was developed.

Concrete mixtures exhibiting acceptable workability and other fresh concrete properties were obtained, and tests were performed to assess mechanical properties and durability performance of the hardened concrete. Results indicated that recycled brick masonry aggregate concrete (RBMAC) mixtures can exhibit mechanical properties comparable to that of structural‐ and pavement‐grade PCC containing conventional coarse aggregates.

Results for durability performance were mixed, but additional testing to evaluate durability performance is recommended.

Although RBMAC has been untested in field applications, results of laboratory studies performed to date indicate that this material shows promise for use in pavement and structural applications. Future testing of RBMAC in both laboratory and field settings will allow stakeholders to gain a comfort level with its properties, identify specific potential uses, and establish guidelines that will assist in ensuring acceptable service life performance.

From the standpoint of sustainability, use of recycled materials as aggregates provides several advantages. Landfill space used for disposal is decreased, and existing natural aggregate sources are not as quickly depleted. Use of recycled aggregates in lieu of virgin quarried aggregates can potentially result in a lower embodied energy of the concrete, although this is often dependent on hauling costs. This particularly holds true if the methodology used to compute the embodied energy of a structure accounts for the “recovery” of energy at the end of its service life.

During the last few decades, rising intra-regional volumes of trade as well as air passenger traffic have been key characteristics of Asia-Pacific’s economic development. Although conceptual and empirical linkages between rising levels of trade and air passenger flows are often assumed, relatively little is known about the potential causality in these parallels. In this chapter, we seek to empirically uncover this causality through the application of heterogeneous Time Series Cross Section Granger causality analysis for the period 1980–2010. Four scenarios are found amongst the different country-pairs: (1) there is no co-evolution, implying that both patterns develop independently (e.g. Japan–Australia); (2) there is ‘real’ co-evolution in that both patterns influence each other through feedback loops (e.g. South Korea–Philippines); (3) air passenger traffic is facilitated by trade (e.g., South Korea–Philippines); or (4) trade is facilitated by air passenger traffic (e.g. Australia–Malaysia). Some possible interpretations of this heterogeneity are discussed.

The importance of obtaining a sovereign credit rating from an agency is still underrated in Africa. Literature on the determinants of sovereign credit ratings in Africa is scarce. The purpose of this research is to determine what the determinants are for sovereign credit ratings in Africa and whether these determinants differ between regions and income groups.

A sample of 19 African countries' determinants of sovereign credit ratings are compared between 2007 and 2014 using a panel-ordered probit approach.

The findings indicated that the determinants of sovereign credit ratings differ between African regions and income groups. The developmental indicators were the most significant determinants across all income groups and regions. The results affirm that the identified determinants in the literature are not as applicable to African sovereigns, and that developmental variables and different income groups and regions are important determinants to consider for sovereign credit ratings in Africa.

The results affirm that the identified determinants in the literature are not as applicable to African sovereigns, and that developmental variables and different income groups and regions are important determinants to consider for sovereign credit ratings in Africa. Rating agencies follow the same rating assignment process for developed and developing countries, which means investors will have to supplement the allocated credit rating with additional information. Africa can attract more investment if African countries obtain formal, accurate sovereign credit ratings, which take the characteristics of the continent into consideration.

This examine the impact of environmental, social and governance (ESG) performance on financial reporting quality (FRQ) before and during COVID-19 in the Egyptian market.

This study uses quarterly data from 2017 to 2021 to draw conclusions, with a sample consisting of 486 firm-year observations for 27 Egyptian companies listed on the Standard and Poor’s/Egyptian Stock Exchange ESG index. This study uses both firms’ ESG scores and the Beneish Model, an earnings detection model, as proxies for FRQ. COVID-19 effects on ESG performance and FRQ were examined by using Pearson’s correlation coefficient and two-stage least squares.

COVID-19 has a significant impact on the link between ESG and FRQ. This implies that corporations with high ESG performance are less likely to manipulate earnings (having a low M-score) and thus provide high FRQ during the COVID-19 pandemic. Moreover, there is a significant positive relationship between firm size, leverage and M-Score, indicating that large firms typically present a high FRQ.

The sample size and data availability are the main research limitations. Additionally, this study only considers the effects of firms’ ESG performance on FRQ during the COVID-19 pandemic. Thus, future research should consider other factors associated with investors’ corporate social responsibility (CSR).

This research has practical implications for market regulators seeking to establish a legislative framework and enhance guidance to mandate managers to provide ESG data and CSR reports appropriate for Egypt and other developing economies in times of crisis.

Promoting the adoption of ESG practices in business, particularly during crises, has the potential to effectively provide high-quality and reliable financial reporting required for investment.

This study aspires to address notable deficiencies in the pertinent literature concerning the relationship between ESG performance and FRQ during COVID-19. To the best of the authors’ knowledge, little is known about how ESG performance changes in response to pandemics in emerging markets. To address this gap, this study examines the effects of COVID-19 on the relationship between ESG performance and FRQ in Egyptian-listed firms from 2017 to 2021.

For the dimensions of the corporate social responsibility (CSR) score, only environmental practices have shown a significant negative link with banking performance. However, the social and government dimensions did not have a significant effect on this variable. The authors also find that the financial performance of banks depends primarily on the financial stability of the bank, in particular, on capital adequacy and on the management of liquidity risk.

The recurrence of banking and financial crises has revealed the complexity and vulnerability of the financial and banking system. In this article, the authors empirically study the impact of CSR on the financial performance of banks as well as the individual effect of each dimension of CSR (social, governance and environmental) with particular attention to the moderating role of financial stability. Based on a sample of 23 French banks over the period from 2010 to 2018, the results indicate a negative and significant effect of CSR measured by the overall CSR score on the performance of banks.

This study provides insight into the essential role of financial stability in moderating the benefits of CSR disclosure while virtually no previous study examines this effect.

This article offers several contributions to the literature. First, this study builds on previous research by providing a more comprehensive view and evidence on the relationship between CSR and bank performance. The authors affirm and show that the financial stability of the bank moderates the effect of CSR on the performance of banks. The link between social responsibility and performance demonstrated in this study is more complicated than the direct–direct relationship as widely assumed in the previous literature.

Resurgent interest in the life and work of the Italian Cambridge economist Piero Sraffa is leading to New Directions in Sraffa Scholarship. This chapter introduces readers to some of these developments. First and perhaps foremost is the fact that as of September 2016 Sraffa’s archival material has been uploaded onto the website of the Wren Library, Trinity College, Cambridge University, as digital colour images; this chapter introduces readers to the history of these events. This history provides sharp relief on the extant debates over the role of the archival material in leading to the final publication of Production of Commodities by Means of Commodities, and readers are provided a brief sketch of these matters. The varied nature of Sraffa scholarship is demonstrated by the different aspects of Sraffa’s intellectual legacy which are developed and discussed in the various entries of our Symposium. The conclusion is reached that we are on the cusp of an exciting phase change of tremendous potential in Sraffa scholarship.

Concrete forms a major component of the national infrastructure. Corrosion of reinforced steels embedded in concrete has recently received wide attention in R&D programmes. Different cases have been reported showing failures of concrete structures which means huge loss. An attempt has been made to identify the different factors affecting the corrosion of embedded steel. Comparative evaluation of different protective schemes use of additives in concrete admixtures and the application of the cathodic protection technique has been discussed.

Assesses the likely impact of European legislation on the conduct of pharmacy business in Britian and Germany. Examines the range of (proposed) legislation and inferences drawn about its likely impact; compares the differing national systems for the regulation of pharmacies and considers the “fit” between these systems and the European framework; addresses the possibilities for internationalization of the operations of pharmacies by opening in the other country. Concludes that current proposals may impact on British practices more severely. An apparent opportunity for expansion by British firms in Germany is shown to be limited by the presence of major drugstore chains in the German market, which are seen to have domestic advantages over incoming firms. Summarizes the legislation connected with the SEM and pharmacy in a Table showing anticipated consequences in the two countries.

The forward curve dynamics in the Nordic electricity market is examined. Six years of price data on futures and forward contracts traded in the Nordic electricity market are analysed. For the forward price function of electricity, we specify a multi‐factor term structure models in a Heath‐Jarrow‐Morton framework. Principal component analysis is used to reveal the volatility structure in the market. A two‐factor model explains 75 per cent of the price variation in our data, compared to approximately 95 per cent in most other markets. Further investigations show that correlation between short‐ and long‐term forward prices is lower than in other markets. We briefly discuss possible reasons why these special properties occur, and some consequences for hedging exposures in this market.