Using cross-sectional panel data over eleven years (2009–2019), or 1001 firm-year observations, this study examines the relationship between capital structure and firm performance of service sector firms from Australian stock market. Unlike other studies, in this study directional causalities of all performance measures were used to identify the cause of firm performance. The study finds that long-term debt dominates debt choices of Australian service sector companies. Although the finding is to some extent similar to trends in debt financed operations observed in companies in developed and developing countries, the finding is unexpected because the sectoral and institutional borrowing rules and regulations in Australia are different from those in other parts of the world.
A time-dependent two-dimensional computational fluid model has been adopted to investigate the dynamic behavior of the high-pressure mercury lamp during the last phase of the warm-up period. The model solves the combined momentum, continuity, energy, and electric field equations for the plasma and the energy equation for the wall. Two models have been compared. The first takes convection into account and is called “convection model.” The second, which neglects this term, is termed “convectionless model.” Good agreement between the predictions and experimental data from literature has been obtained. It is found that the convection affects the lamp performance by increasing the mercury losses behind the electrodes and the mercury-evaporation time.
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