Search results for: market microstructure

Authors: Huseyin Zengin, Muhammet Emre Turan, Yunus Turen, Hayrettin Ahlatci, Yavuz Sun

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This study aimed for understanding the effects of dilute Nb additions on the austenite microstructure of microalloyed steels at five different reheating temperatures from 950 °C to 1300 °C. Four microalloyed high-carbon steels having 0.8 %wt C were examined in which three of them had varying Nb concentrations from 0.005 wt% to 0.02 wt% and one of them had no Nb concentration. The quantitative metallographic techniques were used to measure the average prior austenite grain size in order to compare the grain growth pinning effects of Nb precipitates as a function of reheating temperature. Due to the higher stability of the precipitates with increasing Nb concentrations, the grain coarsening temperature that resulted in inefficient grain growth impediment and a bimodal grain distribution in the microstructure, showed an increase with increasing Nb concentration. The respective grain coarsening temperatures (T_GC) in an ascending order for the steels having 0.005 wt% Nb, 0.01 wt% Nb and 0.02 wt% Nb were 950 °C, 1050 °C and 1150 °C. According to these observed grain coarsening temperatures, an approximation was made considering the complete dissolution temperature (T_DISS) of second phase particles as T_GC=T_DISS-300. On the other hand, the plain carbon steel did not show abnormal grain growth behaviour due to the absence of second phase particles. It was also observed that the higher the Nb concentration, the smaller the average prior austenite grain size although the small increments in Nb concenration did not change the average grain size considerably.

Keywords: microalloyed steels, prior austenite grains, second phase particles, grain coarsening temperature

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Authors: Ahmad Khoirul Umam

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This paper investigates the role of vested interests and its impacts on anti-corruption agenda in Indonesia following the collapse of authoritarian regime in 1998. A pervasive and rampant corruption has been believed as the main cause of the state economy’s fragility. Hence, anti-corruption measures were implemented by applying democratization and market liberalization since the establishment of a consolidated democracy which go hand in hand with a liberal market economy is convinced to be an efficacious prescription for effective anti-corruption. The reform movement has also mandated the establishment of the independent, neutral and professional special anti-corruption agency namely Corruption Eradication Commission (KPK) to more intensify the fight against the systemic corruption. This paper will examine whether these anti-corruption measures have been effective to combat corruption, and investigate to what extend have the anti-corruption efforts, especially those conducted by KPK, been impeded by the emergence of a nexus of vested interests as the side-effect of democratization and market liberalization. Based on interviews with key stakeholders from KPK, other law enforcement agencies, government, prominent scholars, journalists and NGOs in Indonesia, it is found that since the overthrow of Soeharto, anti-corruption movement in the country have become more active and serious. After gradually winning the hearth of people, KPK successfully touched the untouchable corruption perpetrators who were previously protected by political immunity, legal protection and bureaucratic barriers. However, these changes have not necessarily reduced systemic and structural corruption practices. Ironically, intensive and devastating counterattacks were frequently posed by the alignment of business actors, elites of political parties, government, and also law enforcement agencies by hijacking state’s instruments to make KPK deflated, powerless, and surrender. This paper concludes that attempts of democratization, market liberalization and the establishment of anti-corruption agency may have helped Indonesia to reduce corruption. However, it is still difficult to imply that such anti-corruption measures have fostered the more effective anti-corruption works in the newly democratized and weakly regulated liberal economic system.

Keywords: vested interests, democratization, market liberalization, anti-corruption, Indonesia

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Authors: M. Murmu, Govardhan, J. Satya Eswari

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Concrete is the most common and widely used building material. Concrete is basically made of aggregates, both fine and coarse, glued by a cement paste which is made of cement and water. Each one of these constituents of concrete has a negative environmental impact and gives rise to different sustainability issues. The current concrete construction practice is unsustainable because, not only it consumes enormous quantities of stones, sand, and drinking water, but also one billion tons a year of cement, which is not an environment friendly material. Preventing the reduction of natural resources and enhancing the usage of waste materials has become a challenge to the scientist and engineers. A number of studies have been conducted concerning the protection of natural resources, prevention of environmental pollution and contribution to the economy by using this waste material. This paper outlines the influence of Ground Granulated Blast furnace Slag (GGBS) as partial replacement of fine aggregate on mechanical properties of concrete. The strength of concrete is determined having OPC binder, replaced the fine aggregate with15%, 30%, 45% respectively. For this purpose, characteristics concrete mix of M25 with partial replacement of cement with GGBS is used and the strength of concrete cubes and cylinder have determined. The strength of concrete specimens has been compared with the reference specimen. Also X-ray diffraction (XRD) and scanning electron microscope (SEM) tests have been performed to examine the hydration products and the microstructure of the tested specimens. A correlation has been established between the developmental strength concrete with and without GGBS through analysis of hydration products and the microstructure.

Keywords: GGBS, sand, concrete, workability

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Authors: Narges Shayesteh Moghaddam

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Tungsten (W), a refractory metal known for its remarkably high melting temperature, offers tremendous potential for use in challenging environments prevalent in sectors such as space exploration, defense, and nuclear industries. Additive manufacturing, especially the Laser Powder-Bed Fusion (LPBF) technique, emerges as a beneficial method for fabricating tungsten parts. This technique enables the production of intricate components while simultaneously reducing production lead times and associated costs. However, the inherent brittleness of tungsten and its tendency to crack under high-temperature conditions pose significant challenges to the manufacturing process. Our research primarily focuses on the process of rolling tungsten parts in a layer-by-layer manner in LPBF and the subsequent changes in microstructure. Our objective is not only to identify the alterations in the microstructure but also to assess their implications on the physical properties and performance of the fabricated tungsten parts. To examine these aspects, we conducted an extensive series of experiments that included the fabrication of tungsten samples through LPBF and subsequent characterization using advanced materials analysis techniques. These investigations allowed us to scrutinize shifts in various microstructural features, including, but not limited to, grain size and grain boundaries occurring during the rolling process. The results of our study provide crucial insights into how specific factors, such as plastic deformation occurring during the rolling process, influence the microstructural characteristics of the fabricated parts. This information is vital as it provides a foundation for understanding how the parameters of the layer-by-layer rolling process affect the final tungsten parts. Our research significantly broadens the current understanding of microstructural evolution in tungsten parts produced via the layer-by-layer rolling process in LPBF. The insights obtained will play a pivotal role in refining and optimizing manufacturing parameters, thus improving the mechanical properties of tungsten parts and, therefore, enhancing their performance. Furthermore, these findings will contribute to the advancement of manufacturing techniques, facilitating the wider application of tungsten parts in various high-demand sectors. Through these advancements, this research represents a significant step towards harnessing the full potential of tungsten in high-temperature and high-stress applications.

Keywords: additive manufacturing, rolling, tungsten, refractory materials

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Authors: Junior Nomani

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This paper presents a novel approach to modelling the metal cutting of duplex stainless steels, a two-phase alloy regarded as a difficult-to-machine material. Calculation and control of shear strain and stresses during cutting are essential to achievement of ideal cutting conditions. Too low or too high leads to higher required cutting force or excessive heat generation causing premature tool wear failure. A 2D finite element cutting model was created based on electron backscatter diffraction (EBSD) data imagery of duplex microstructure. A mesh was generated using ‘object-oriented’ software OOF2 version V2.1.11, converting microstructural images to quadrilateral elements. A virtual workpiece was created on ABAQUS modelling software where a rigid body toolpiece advanced towards workpiece simulating chip formation, generating serrated edge chip formation cutting. Model results found calculated stress strain contour plots correlated well with similar finite element models tied with austenite stainless steel alloys. Virtual chip form profile is also similar compared experimental frozen machining chip samples. The output model data provides new insight description of strain behavior of two phase material on how it transitions from workpiece into the chip.

Keywords: Duplex stainless steel, ABAQUS, OOF2, Chip formation

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Authors: Adeolu O. Dairo

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Getting the consumer marketing strategy right is a crucial and complex task for firms with a large customer base such as mobile operators in a competitive mobile market. While empirical studies have made efforts to identify key constructs, no geospatial model has been developed to comprehensively assess the viability and interdependency of ground realities regarding the customer, competition, channel and the network quality of mobile operators. With this research, a geo-analytic framework is proposed for strategy formulation and allocation for mobile operators. Firstly, a fuzzy analytic network using a self-organizing feature map clustering technique based on inputs from managers and literature, which depicts the interrelationships amongst ground realities is developed. The model is tested with a mobile operator in the Nigeria mobile market. As a result, a customer-centric geospatial and visualization solution is developed. This provides a consolidated and integrated insight that serves as a transparent, logical and practical guide for strategic, tactical and operational decision making.

Keywords: geospatial, geo-analytics, self-organizing map, customer-centric

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Authors: M. Khajezadeh, M. Saied Fallah Niasar, S. Ali Asli, D. Davani Davari, M. Godarzi, Y. Asgari

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This study aims to explore the joint application of both Boston and Ansoff matrices in the operational development of the product. We conduct deep analysis, by utilizing the Artificial Neural Network, to predict the position of the product in the market while the company is interested in increasing its share. The data are gathered from two industries, called hygiene and detergent. In doing so, the effort is being made by investigating the behavior of top player companies and, recommend strategic orientations. In conclusion, this combination analysis is appropriate for operational development; as well, it plays an important role in providing the position of the product in the market for both hygiene and detergent industries. More importantly, it will elaborate on the company’s strategies to increase its market share related to a combination of the Boston Consulting Group (BCG) Matrix and Ansoff Matrix.

Keywords: artificial neural network, portfolio analysis, BCG matrix, Ansoff matrix

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Authors: Lourdes Yareth Herrera-Chavez, Alberto Ruiz, Victor H. Lopez

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Superalloys are used in components that operate at high temperatures such as pressure vessels and heat exchanger tubing. Design standards for these components must consider creep resistance among other criteria. Fusion welding processes are commonly used in the industry to join such components. Fusion processes commonly generate three distinctive zones, i.e. heat affected zone (HAZ), namely weld metal (WM) and base metal (BM). In nickel-based superalloy, the microstructure developed during fusion welding dictates the mechanical response of the welded component and it is very important to establish these effects in the mechanical response of the component. In this work, two plates of Inconel 600 superalloy were Gas Metal Arc Welded (GMAW). Creep samples were cut and milled to specifications and creep tested at a temperature (650 °C) using stress level of 350, 300, 275, 250 and 200 MPa. Microstructural analysis results showed a progressive creep damage evolution that depends on the stress levels with a preferential accumulation of creep damage at the heat affected zone where the creep rupture preferentially occurs owing to an austenitic matrix with grain boundary precipitated of the type Cr23C6. The fractured surfaces showed dimple patterns of cavity and voids. Results indicated that the damage mechanism is due to cavity growth by the combined effect of the power law and diffusion creep.

Keywords: austenitic microstructure, creep damage evolution, heat affected zone, vickers microhardness

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Authors: Waqar Ahmad Bajwa

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In the land market, there are two kinds of government intervention. First one is the control of development and second is the supply of land. In the both intervention Government has a lot of benefits. In development control the government designation of conservation areas and the effects of growth controls which may increase the price of land. On other hand Government also apply charge fee on land. The second type of intervention is to increase the supply of land, either by direct action or indirect action, as in the Pakistan, by obligatory purchase or important domain.

Keywords: supply of control, control of development, charge fee, land control

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Authors: Rotem Mashkov, Noam Shoval

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In an age when a tourist’s gaze is more focused on the daily lives of locals, it is evident that local food markets are being rediscovered. Traditional urban markets succeed in reinventing themselves as a space for consumption, recreation, and culture, enabling authentic experiences and interpersonal interactions with the local culture. Alongside this, the pressure of tourism development may result in commercialization and retail gentrification to the point of losing the sense of local identity. The issue of finding a balance between tourism development and the preservation of unique local features is at the heart of this study and is being tested using the case of the Mahane Yehuda market in Jerusalem. The research question—how merchants respond to tourism development in the Mahane Yehuda food market— focuses on local traders, a group of players who are usually absent from the research arenas, although they influence tourism development as well as influenced by it. Three main research methods were integrated into this study. The first two methods, a survey of articles survey and comparative mapping of the business mix, were used to characterize the changes in the Mahane Yehuda market both consciously and physically. The third research method, involving in-depth interviews with merchants, was used to examine the traders' attitudes and responses to tourism development. The findings indicate that there has been a turnaround in the market image over the past decade and a half. Additionally, there has been a significant physical change in the business mix, reflected by a decline of 15% in the number of stalls selling food products and delicacies. The data from the interviews on the traders’ attitudes towards tourism development were inconclusive; there were disagreements among the traders about the economic contribution of tourism development in relation to their dependence on the tourism industry. However, there was a consensus on the need for authentic elements in the marketplace. The findings of the study also indicate a strong link between the merchants’ response to tourism development and their stall ownership status as the merchant could exercise their position in various ways depending on the possession type.

Keywords: business mix, Jerusalem, local food markets, Mahane Yehuda market, merchants’ attitude, ownership status, retail gentrification, tourism development, traditional urban markets

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Authors: Azizah Hashim, Rohana Ngah

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Transformation of Economic Development is aimed to transform Malaysia to become a high-income developed nation with a knowledge-based economy by 2020. To achieve this national agenda, the country needs to further strengthen its economic development, growth and well-being. Therefore, this study aspires to examine the relationship between market orientation, human resource management and adoption of information communication technology and SMEs performance and cash management as a mediator. This study will employ quantitative approaches. Questionnaires will be distributed to managers and owners in service sectors. The data collected will be analyzed using SPSS and Structural Equation Modelling. Resource Based Theory (RBT) adopts as an integral part of management literature that explains the performance of organizations through building resources and implement of their strategies.

Keywords: small medium enterprises (SMEs), market orientation, human resource management, adoption of information communication technology

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Authors: Javad Izadi, Sahar Majioud

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This study presents an approach of assessing the choice of performance measures of companies in the United Kingdom after the application of IFRS in 2005. The aim of this study is to investigate the effects of IFRS on the choice of performance evaluation methods for UK companies. We analyse through an econometric model the relationship of the dependent variable, the firm’s performance, which is a nominal variable with the independent ones. Independent variables are split into two main groups: the first one is the group of accounting-based measures: Earning per share, return on assets and return on equities. The second one is the group of market-based measures: market value of property plant and equipment, research and development, sales growth, market to book value, leverage, segment and size of companies. Concerning the regression used, it is a multinomial logistic regression performed on a sample of 130 UK listed companies. Our finding shows after IFRS adoption, and companies give more importance to some variables such as return on equities and sales growth to assess their performance, whereas the return on assets and market to book value ratio does not have as much importance as before IFRS in evaluating the performance of companies. Also, there are some variables that have no impact on the performance measures anymore, such as earning per share. This article finding is empirically important for business in subjects related to IFRS and companies’ performance measurement.

Keywords: performance’s Measure, nominal variable, econometric model, evaluation methods

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Authors: Md. Qamruzzaman, Wei Jianguo

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Over the decade, it is observed that financial development, through financial innovation, not only accelerated development of efficient and effective financial system but also act as a catalyst in the economic development process. In this study, we try to explore insight about how financial innovation causes economic growth in Bangladesh by using Vector Error Correction Model (VECM) for the period of 1990-2014. Test of Cointegration confirms the existence of a long-run association between financial innovation and economic growth. For investigating directional causality, we apply Granger causality test and estimation explore that long-run growth will be affected by capital flow from non-bank financial institutions and inflation in the economy but changes of growth rate do not have any impact on Capital flow in the economy and level of inflation in long-run. Whereas, growth and Market capitalization, as well as market capitalization and capital flow, confirm feedback hypothesis. Variance decomposition suggests that any innovation in the financial sector can cause GDP variation fluctuation in both long run and short run. Financial innovation promotes efficiency and cost in financial transactions in the financial system, can boost economic development process. The study proposed two policy recommendations for further development. First, innovation friendly financial policy should formulate to encourage adaption and diffusion of financial innovation in the financial system. Second, operation of financial market and capital market should be regulated with implementation of rules and regulation to create conducive environment.

Keywords: financial innovation, economic growth, GDP, financial institution, VECM

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Authors: Wang Jianguo, Ding Xiao, Liu Dong, Wang Haiping, Yang Yanhui, Hu Yang

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The hot deformation behavior of Inconel 718 alloy was studied by uniaxial compression tests under the deformation temperature of 940~1040℃ and strain rate of 0.001-10s⁻¹. The double cone compression (DCC) tests develop strains range from 30% to the 79% strain including all intermediate values of stains at different temperature (960~1040℃). DCC tests were simulated by finite element software which shown the strain and strain rates distribution. The result shows that the peak stress level of the alloy decreased with increasing deformation temperature and decreasing strain rate, which could be characterized by a Zener-Hollomon parameter in the hyperbolic-sine equation. The characterization method of hot processing window containing recrystallization volume fraction and average grain size was proposed for double cone compression test of uniform coarse grain, mixed crystal and uniform fine grain double conical specimen in hydraulic press and screw press. The results show that uniform microstructures can be obtained by low temperature with high deformation followed by high temperature with small deformation on the hydraulic press and low temperature, medium deformation, multi-pass on the screw press. The two methods were applied in industrial forgings process, and the forgings with uniform microstructure were obtained successfully.

Keywords: inconel 718 superalloy, hot processing windows, double cone compression, uniform microstructure

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Authors: Imad Zeyad Ramadan

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In this paper a genetic algorithm was developed to construct the optimal portfolio based on the Treynor method. The GA maximizes the Treynor ratio under budget constraint to select the best allocation of the budget for the companies in the portfolio. The results show that the GA was able to construct a conservative portfolio which includes companies from the three sectors. This indicates that the GA reduced the risk on the investor as it choose some companies with positive risks (goes with the market) and some with negative risks (goes against the market).

Keywords: oOptimization, genetic algorithm, portfolio selection, Treynor method

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Authors: Kianoosh Samimi, Siham Kamali-Bernard, Ali Akbar Maghsoudi

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Due to the difficult placement and vibration between reinforcements of reinforced concrete and the defects that it may cause, the use of self-compacting concrete (SCC) is becoming more widespread. Ordinary Portland Cement (OPC) is the most widely used binder in the construction industry. However, the manufacture of this cement results in a significant amount of CO₂ being released, which is detrimental to the environment. Thus, an alternative to reduce the cost of SCC is the use of more economical and environmental mineral additives in partial or total substitution of Portland cement. Our study is in this context and aims to develop SCCs both economic and ecological. Two natural pozzolans such as pumice and zeolite are chosen in this research. This research tries to answer questions including the microstructure of the two types of natural pozzolan and their influence on the mechanical properties as well as on the transport property of SCC. Based on the findings of this study, the studied zeolite is a clinoptilolite that presents higher pozzolan activity compared to pumice. However, the use of zeolite decreases the compressive strength of SCC composites. On the contrary, the compressive strength in SCC containing of pumice increases at both early and long term ages with a remarkable increase at long term. A correlation is obtained between the compressive strength with permeable pore and capillary absorption. Also, the results concerning compressive strength and transport property are well justified by evaporable and non-evaporable water content measurement. This paper shows that the substitution of Portland cement by 15% of pumice or 10% of zeolite in HSSCC is suitable in all aspects. 

Keywords: concrete, durability, pumice, SCC, transport, zeolite

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Authors: Trisiladi Supriyanto

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Although much research has been done on the pricing benchmark both in terms of fiqh or Islamic economic perspective, but no substitution for the concept of interest (rate of interest) up to now in the application of Islamic Banking because some of the jurists from the middle east even allow the use of a benchmark rate such as LIBOR (London Interbank Offered Rate) as a measure of Islamic financial asset prices, so in other words, they equate the concept of rate of interest with the concept of rate of profit, which is the core reason (raison detre) for the replacement of usury as instructed in the Quran. This study aims to find the concept of rate of profit on Islamic banking that can create economic justice and stability in Islamic Banking and Capital market. Rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets that are measured from the Islamic financial asset price volatility in Islamic Bond Market in Capital Market.

Keywords: Rate of profit, economic justice, stability, equitable distribution of income, equitable distribution of wealth

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Authors: Supreet Singh, Manpreet Kaur, Manoj Kumar

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High temperature corrosion is an imperative material degradation method experienced in thermal power plants and other energy generation sectors. Metallic materials such as ferritic steels have special properties such as easy fabrication and machinibilty, low cost, but a serious drawback of these materials is the worsening in properties initiating from the interaction with the environments. The metallic materials do not endure higher temperatures for extensive period of time because of their poor corrosion resistance. Friction Stir Processing (FSP), has emerged as the potent surface modification means and control of microstructure in thermo mechanically heat affecting zones of various metal alloys. In the current research work, FSP was done on the boiler tube of SA 210 Grade A1 material which is regularly used by thermal power plants. The strengthening of SA210 Grade A1 boiler steel through microstructural refinement by Friction Stir Processing (FSP) and analyze the effect of the same on high temperature corrosion behavior. The high temperature corrosion performance of the unprocessed and the FSPed specimens were evaluated in the laboratory using molten salt environment of Na₂SO₄-82%Fe₂(SO₄). The unprocessed and FSPed low carbon steel Gr A1 evaluation was done in terms of microstructure, corrosion resistance, mechanical properties like hardness- tensile. The in-depth characterization was done by EBSD, SEM/EDS and X-ray mapping analyses with an aim to propose the mechanism behind high temperature corrosion behavior of the FSPed steel.

Keywords: boiler steel, characterization, corrosion, EBSD/SEM/EDS/XRD, friction stir processing

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Authors: Saeed Rabea Baatwah, Zalailah Salleh, Norsiah Ahmad

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This study examines whether audit committee chair with financial expertise enhances the audit committee role in financial reporting quality in emerging market. We investigate this influence by employing the direct effect and moderating effect of audit committee chair with financial expertise on financial reporting timeliness. By using Omani data and the panel data method for two proxies for financial reporting timeliness, we find that audit committee chair with financial expertise enhances the timeliness of financial reporting through making the disclosure of annual reports timely. Further, we report evidence showing that both accounting and non-accounting financial expertise on the audit committee have a positive and significant influence on the timeliness of financial reporting. We also document that the association between financial expertise and the timeliness of financial reporting is more pronounced when the chair of the audit committee has financial expertise. This study is among the first to comprehensively prove that audit committee chair with financial expertise contributes to the quality of financial reporting in emerging market.

Keywords: audit committee, chair with financial expertise, timeliness of financial reporting, Oman

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Authors: Sarakorn Sukaviriya

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This paper describes the inspection procedure, root cause analysis, the rectification of crack, and how to apply the procedure with other similar plants. During the operation of the steam turbine (620MW), instruments such as speed sensor of steam turbine, the servo valve of main stop valve and electrical wires were malfunction caused by leakage steam from main steam governing valve. Therefore, the power plant decided to shutdown steam turbines for figuring out the cause of leakage steam. Inspection techniques to be applied in this problem were microstructure testing (SEM), pipe stress analysis (FEM) and non-destructive testing. The crack was initially found on main governing valve’s weldment by visual inspection. To analyze more precisely, pipe stress analysis and microstructure testing were applied and results indicated that the crack was intergranular and originated from the weld defect. This weld defect caused the notch with high-stress concentration which created crack and then propagated to steam leakage. The major root cause of this problem was an inappropriate welding process, which created a weld defect. To repair this joint from damage, we used a welding technique by producing refinement of coarse grain HAZ and eliminating stress concentration. After the weldment was completely repaired, other adjacent weldments still had risk. Hence, to prevent any future cracks, non-destructive testing (NDT) shall be applied to all joints in order to ensure that there will be no indication of crack.

Keywords: steam-pipe leakage, steam leakage, weld crack analysis, weld defect

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Authors: Sun-Ki Choi

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The U.S. student loan policy was initiated to improve the equality of educational opportunity and help low-income families to provide higher education opportunities for their children. However, with the increase in the average student loan amount, college graduates with student loans experience problems and restrictions in their early-career choices. This study examines the early career labor market choices of college graduates who obtained student loans to finance their higher education. In this study, National Survey of College Graduates (NSCG) data for 2017 and 2019 was used to estimate the effects of student loans on the employment status and current job wages of graduates with student loans. In the analysis, two groups of workers, those with student loans and those without loans, were compared. Using basic models and Mahalanobis distance matching, it was found that graduates who rely on student loans to finance their education are more likely to participate in the labor market than those who do not. Moreover, in entry-level jobs, graduates with student loans receive lower salaries than those without student loans. College graduates make job-related decisions based on their current and future wages and fringe benefits. Graduates with student loans tend to demonstrate risk-averse behaviors due to their financial restrictions. Thus, student loan debt creates inequity in the early-career labor market for college graduates. Furthermore, this study has implications for policymakers and researchers in terms of the student loan policy.

Keywords: student loan, wage differential, unintended consequences, mahalanobis distance matching

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Authors: Subir Gupta, Subhas Ganguly

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In this paper, we demonstrate the new area of application of image processing in metallurgical images to develop the more opportunity for structure-property correlation based approaches of alloy design. The present exercise focuses on the development of image processing tools suitable for phrase segmentation, grain boundary detection and recognition of micro-constituents in SEM micrographs of ferrite and pearlite steels. A comprehensive data of micrographs have been experimentally developed encompassing the variation of ferrite and pearlite volume fractions and taking images at different magnification (500X, 1000X, 15000X, 2000X, 3000X and 5000X) under scanning electron microscope. The variation in the volume fraction has been achieved using four different plain carbon steel containing 0.1, 0.22, 0.35 and 0.48 wt% C heat treated under annealing and normalizing treatments. The obtained data pool of micrographs arbitrarily divided into two parts to developing training and testing sets of micrographs. The statistical recognition features for ferrite and pearlite constituents have been developed by learning from training set of micrographs. The obtained features for microstructure pattern recognition are applied to test set of micrographs. The analysis of the result shows that the developed strategy can successfully detect the micro constitutes across the wide range of magnification and variation of volume fractions of the constituents in the structure with an accuracy of about +/- 5%.

Keywords: SEM micrograph, metallurgical image processing, ferrite pearlite steel, microstructure

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Authors: Walailak Atthirawong

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By the end of 2015, the Association of Southeast Asian Nations (ASEAN) countries proclaim to transform into the next stage of an economic era by having a single market and production base called ASEAN Economic Community (AEC). One objective of the AEC is to establish ASEAN as a single market and one production base making ASEAN highly competitive economic region and competitive with new mechanisms. As a result, it will open more opportunities to enterprises in both trade and investment, which offering a competitive market of US$ 2.6 trillion and over 622 million people. Location decision plays a key role in achieving corporate competitiveness. Hence, it may be necessary for enterprises to redesign their supply chains via enlarging a new production base which has low labor cost, high labor skill and numerous of labor available. This strategy will help companies especially for apparel industry in order to maintain a competitive position in the global market. Therefore, in this paper a generic model for location selection decision for Thai apparel industry using Fuzzy Analytical Network Process (FANP) is proposed. Myanmar, Vietnam and Cambodia are referred for alternative location decision from interviewing expert persons in this industry who have planned to enlarge their businesses in AEC countries. The contribution of this paper lies in proposing an approach model that is more practical and trustworthy to top management in making a decision on location selection.

Keywords: apparel industry, ASEAN Economic Community (AEC), Fuzzy Analytical Network Process (FANP), location decision

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Authors: Li Lei, Jia Jidong

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Employment right is linked to the people’s livelihood in our society. As a most important and representative part in the labor market, the employment of public servants is always taking much attention. But the discrimination in the employment of public servants has always existed and, to become a controversy in our society. The paper try to discuss this problem from four parts as follows: First, the employment of public servants has a representative status in our labor market. The second part is about the discrimination in the employment of public servants. The third part is about the right of equality and its significance. The last part is to analysis the legal predicament about discrimination in the employment of public servants in China.

Keywords: discrimination, employment of public servants, right of labor, law

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Authors: Christian C. Vaso, Rinlee Butch M. Cervera

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Solid oxide electrolysis cell (SOEC) is a promising technology for hydrogen production that will contribute to the sustainable energy of the future. An important component of this SOEC is the anode material and one of the promising anode material for such application is the Sr-doped LaMnO3 (LSM) and Yttrium-stabilized ZrO2 (YSZ) composite material. In this study, LSM/YSZ with different weight percent compositions of LSM and YSZ were synthesized using solid-state reaction method. The obtained samples, 60LSM/40YSZ, 50LSM/50YSZ, and 40LSM/60YSZ, were fully characterized for its microstructure using X-ray diffraction, FTIR, and SEM/EDS. EDS analysis confirmed the elemental composition and distribution of the synthesized samples. Surface morphology of the sample using SEM exhibited a well sintered and densified samples and revealed a beveled cube-like LSM morphology while the YSZ phase appeared to have a sphere-like microstructure. Density measurements using Archimedes principle showed relative densities greater than 90%. In addition, AC impedance measurement of the synthesized samples have been investigated at intermediate temperature range (400-700 °C) in an inert and oxygen gas flow environment. At pure states, LSM exhibited a high electronic conductivity while YSZ demonstrated an ionic conductivity of 3.25 x 10-4 S/cm at 700 °C under Oxygen gas environment with calculated activation energy of 0.85eV. The composite samples were also studied and revealed that as the YSZ content of the composite electrode increases, the total conductivity decreases.

Keywords: ceramic composites, fuel cells, strontium lanthanum manganite, yttria partially-stabilized zirconia

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Authors: N. H. Othman, N. Udin, M. Ishak, L. H. Shah

Abstract:

This study focuses on the effect of pin taper tool ratio on friction stir welding of magnesium alloy AZ31. Two pieces of AZ31 alloy with thickness of 6 mm were friction stir welded by using the conventional milling machine. The shoulder diameter used in this experiment is fixed at 18 mm. The taper pin ratio used are varied at 6:6, 6:5, 6:4, 6:3, 6:2 and 6:1. The rotational speeds that were used in this study were 500 rpm, 1000 rpm and 1500 rpm, respectively. The welding speeds used are 150 mm/min, 200 mm/min and 250 mm/min. Microstructure observation of welded area was studied by using optical microscope. Equiaxed grains were observed at the TMAZ and stir zone indicating fully plastic deformation. Tool pin diameter ratio 6/1 causes low heat input to the material because of small contact surface between tool surface and stirred materials compared to other tool pin diameter ratio. The grain size of stir zone increased with increasing of ratio of rotational speed to transverse speed due to higher heat input. It is observed that worm hole is produced when excessive heat input is applied. To evaluate the mechanical properties of this specimen, tensile test was used in this study. Welded specimens using taper pin ratio 6:1 shows higher tensile strength compared to other taper pin ratio up to 204 MPa. Moreover, specimens using taper pin ratio 6:1 showed better tensile strength with 500 rpm of rotational speed and 150mm/min welding speed.

Keywords: friction stir welding, magnesium AZ31, cylindrical taper tool, taper pin ratio

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Authors: Ahmed. S. Alasmari, M. S. Soliman, Magdy M. El-Rayes

Abstract:

This study focuses on the effect of the addition of magnesium (Mg) and silver (Ag) on the mechanical properties of aluminum based alloys. The alloying elements will be added at different levels using the factorial design of experiments of 2²; the two factors are Mg and Ag at two levels of concentration. The superior mechanical properties of the produced Al-Cu-Mg-Ag alloys after aging will be resulted from a unique type of precipitation named as Ω-phase. The formed precipitate enhanced the tensile strength and thermal stability. This paper further investigated the microstructure and mechanical properties of as cast Al–Cu–Mg–Ag alloys after being complete homogenized treatment at 520 °C for 8 hours followed by isothermally age hardening process at 190 °C for different periods of time. The homogenization at 520 °C for 8 hours was selected based on homogenization study at various temperatures and times. The alloys’ microstructures were studied by using optical microscopy (OM). In addition to that, the fracture surface investigation was performed using a scanning electronic microscope (SEM). Studying the microstructure of aged Al-Cu-Mg-Ag alloys reveal that the grains are equiaxed with an average grain size of about 50 µm. A detailed fractography study for fractured surface of the aged alloys exhibited a mixed fracture whereby the random fracture suggested crack propagation along the grain boundaries while the dimples indicated that the fracture was ductile. The present result has shown that alloy 5 has the highest hardness values and the best mechanical behaviors.

Keywords: precipitation hardening, aluminum alloys, aging, design of experiments, analysis of variance, heat treatments

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Authors: Oluchukwu P. Obioma, Amarachi R. Dike

Abstract:

Competition law promotes market competition by regulating anti-competitive conduct by undertakings. There is a need for a third party to regulate the market for efficiency and supervision, since, if the market is left unchecked, it may be skewed against the consumers and the economy. Competition law is geared towards the protection of consumers from economic exploitation. It is the duty of every rational government to optimally manage its economic system by employing the best regulatory practices over the market to ensure it functions effectively and efficiently. The Nigerian government has done this by enacting the Federal Competition and Consumer Protection Act, 2018 (FCCPA). This is a comprehensive legal framework with the objective of governing competition issues in Nigeria. Prior to its enactment, the competition law regime in Nigeria was grossly inadequate despite Nigeria being the biggest economy in Africa. This latest legislation has become a bold step in the right direction. This study will use the doctrinal methodology in analyzing the FCCPA, 2018 in order to discover the extent to which the Act will guard against anti-competitive practices and promote competitive markets for the benefit of the Nigerian economy and consumers. The study finds that although the FCCPA, 2018 provides for the regulation of competition in Nigeria, there is a need to effectively tackle the challenges to the implementation of the Act and the development of anti-trust jurisprudence in Nigeria. This study concludes that incisive implementation of competition law in Nigeria will help protect consumers and create a conducive environment for economic growth, development, and protection of consumers from obnoxious competition practices.

Keywords: anti-competitive practices, competition law, competition regulation, consumer protection.

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Authors: Farangiz Davranbekova

Abstract:

Subject: The study explores the impact of Over-the-Top services in the sports rights market, focusing on football games. This impact is analysed in the big five European football markets. The research entails how the pay-TV market is combating the disruptors' entry, how the fans are adjusting to these changes and how leagues and football clubs are orienting in the transitional period of more choice. Aims and methods: The research aims to offer a general overview of the impact of OTT players in the football rights market. A theoretical framework of Jenkins’ five layers of convergence is implemented to analyse the transition the sports rights market is witnessing from various angles. The empirical analysis consists of secondary research data as and seven expert interviews from three different clusters. The findings are bound by the combination of the two methods offering general statements. Findings: The combined secondary data as well as expert interviews, conducted on five layers of convergence found: 1. Technological convergence presents that football content is accessible through various devices with innovative digital features, unlike the traditional TV set box. 2. Social convergence demonstrates that football fans multitask using various devices on social media when watching the games. These activities are complementary to traditional TV viewing. 3. Cultural convergence points that football fans have a new layer of fan engagement with leagues, clubs and other fans using social media. Additionally, production and consumption lines are blurred. 4. Economic convergence finds that content distribution is diversifying and/or eroding. Consumers now have more choices, albeit this can be harmful to them. Entry barriers are decreased, and bigger clubs feel more powerful. 5. Global convergence shows that football fans are engaging with not only local fans but with fans around the world that social media sites enable. Recommendation: A study on smaller markets such as Belgium or the Netherlands would benefit the study on the impact of OTT. Additionally, examination of other sports will shed light on this matter. Lastly, once the direct-to-consumer model is fully taken off in Europe, it will be of importance to examine the impact of such transformation in the market.

Keywords: sports rights, OTT, pay TV, football

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Authors: M. Gregušová, V. Schindlerová, I. Šajdlerová, P. Mohyla, J. Kedroň

Abstract:

Company managers are always looking for more and more opportunities to succeed in today's fiercely competitive market. Maintain your place among the successful companies on the market today or come up with a revolutionary business idea; it is much more difficult than before. Each new or improved method, tools, or the approach that can improve the functioning of business processes or even the entire system is worth checking and verification. The use of simulation in the design of manufacturing systems and their management in practice is one of the ways without increased risk to find the optimal parameters of manufacturing processes and systems. The paper presents an example of using simulation to solve the bottleneck problem in concrete company.

Keywords: practical applications, business processes, systems, simulation

Procedia PDF Downloads 622