Search results for: market microstructure

Authors: Muyatdinova Aigul, Aitkaliyeva Madina

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The article deals with the evaluation of the quality of medical services on the basis of quality indicators. For this purpose allocated initially the features of the medical services market. The Features of the market directly affect on the evaluation process that takes a multi-level and multi-stakeholder nature. Unlike ordinary goods market assessment of medical services does not only market. Such an assessment is complemented by continuous internal and external evaluation, including experts and accrediting bodies. In the article highlighted the composition of indicators for a comprehensive evaluation

Keywords: health care market, quality of health services, indicators of care quality

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Authors: Hiroki Yoshikai, Shin’ichi Arakawa, Tetsuya Takine, Masayuki Murata

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API (Application Programming Interface) economy is expected to create new value by converting corporate services such as information processing and data provision into APIs and using these APIs to connect services. Understanding the dynamics of a market of API economy under the strategies of participants is crucial to fully maximize the values of the API economy. To capture the behavior of a market in which the number of participants changes over time, we present a time-evolving market model for a platform in which API providers who provide APIs to service providers participate in addition to service providers and consumers. Then, we use the market model to clarify the role API providers play in expanding market participants and forming ecosystems. The results show that the platform with API providers increased the number of market participants by 67% and decreased the cost to develop services by 25% compared to the platform without API providers. Furthermore, during the expansion phase of the market, it is found that the profits of participants are mostly the same when 70% of the revenue from consumers is distributed to service providers and API providers. It is also found that when the market is mature, the profits of the service provider and API provider will decrease significantly due to their competition, and the profit of the platform increases.

Keywords: API economy, ecosystem, platform, API providers

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Authors: Seok Hong Min, Tae Kwon Ha

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High strength Fe-36Ni-base Invar alloys containing Al contents up to 0.3 weight percent were cast into ingots and thermodynamic equilibrium during solidification has been investigated in this study. From the thermodynamic simulation using Thermo-Calc®, it has been revealed that equilibrium phases which can be formed are two kinds of MC-type precipitates, MoC, and M2C carbides. The mu phase was also expected to form by addition of aluminum. Microstructure observation revealed the coarse precipitates in the as-cast ingots, which was non-equilibrium phase and could be resolved by the successive heat treatment. With increasing Al contents up to 0.3 wt.%, tensile strength of Invar alloy increased as 1400MPa after cold rolling and thermal expansion coefficient increased significantly. Cold rolling appeared to dramatically decrease thermal expansion coefficient.

Keywords: invar alloy, aluminum, phase equilibrium, thermal expansion coefficient, microstructure, tensile properties

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Authors: Reham K. El Sawah, N. S. M. El-Tayeb

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This study aims to produce a polymer matrix composite reinforced with Al₂O₃ nanoparticles in order to enhance the mechanical properties of PMMA. The composite was fabricated via Friction stir processing to ensure homogenous dispersion of Al₂O₃ nanoparticles in the polymer, and the processing was submerged to prevent the sputtering of nanoparticles. The surface quality, microstructure, impact energy and hardness of the prepared samples were investigated. Good surface quality and dispersion of nanoparticles were attained through employing sufficient processing conditions. The experimental results indicated that as the percentage of nanoparticles increased, the impact energy and hardness increased, reaching 2 kJ/m2 and 14.7 HV at a nanoparticle concentration of 25%, which means that the toughness and the hardness of the polymer-ceramic produced composite is higher than unprocessed PMMA by 66% and 33% respectively.

Keywords: friction stir processing, polymer matrix nanocomposite, mechanical properties, microstructure

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Authors: Panupong Chanplin, Wilailuk Mepracha, Sathapath Kilaso

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The aims of this research were twofold: 1) to logo design of Huay Kon Border Market, Chaloemphrakiat District, Nan Province and 2) to study the level of tourist satisfaction towards logo design of Huay Kon Border Market, Chaloemphrakiat District, Nan Province. Tourist satisfaction was measured using four criteria: a unique product identity, ease of remembrance, product utility, and beauty/impressiveness. The researcher utilized a probability sampling method via simple random sampling. The sample consisted of 30 tourists in the Huay Kon Border Market. Statistics utilized for data analysis were percentage, mean, and standard deviation. The results suggest that tourist had high levels of satisfaction towards all four criteria of the logo design that was designed to target them. This study proposes that specifically logo designed of Huay Kon Border Market could also be implemented with other real media already available on the market.

Keywords: satisfaction, logo, design, Huay Kon border market

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Authors: P. Fernández-Morales, D. Peláez, C. Isaza, J. M. Meza, E. Mendoza

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Mg AZ31B alloy sheets were processed through equal-channel angular sheet drawing (ECASD) process, following the route A and C at room temperature and varying the processing speed. SEM was used to analyze the microstructure. The grain size was refined and presence of twins was observed. Vickers microhardness and tensile testing were carried out to evaluate the mechanical properties, showing in general; a remarkable increase in the first pass and slight increases during subsequent passes and, that the route C produces better uniform properties distribution through the thickness of the samples.

Keywords: ECASD, Mg Alloy, mechanical properties, microstructure

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Authors: Temitope Faloye

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The absence of equity and transparency in Nigeria's economic system has resulted in unemployment. Women’s unemployment rate remains higher because women's range of jobs is often narrower due to discriminatory attitudes of employers and gender segregation in the labor market. Gender inequality is one of the strong factors of unemployment, especially in developing countries like Nigeria, where the female gender is marginalized in the labor force market. However, gender equality in terms of labor market access and employment condition has not yet been attained. Feminist theory is considered as an appropriate theory for this study. The study will use a mixed-method design, collecting qualitative and quantitative data to provide answers to the research questions. Therefore, the research study aims to investigate the present situation of gender inequality in the Nigerian labor market.

Keywords: unemployment, gender inequality, gender equality, labor market, female graduate

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Authors: Yuhao Jin, Zhou Zhou, Katsumi Yoshida, Zhengcao Li, Tadashi Maruyama, Toyohiko Yano

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Four kinds of nuclear graphite, IG-110U, ETP-10, CX-2002U and IG-430U were neutron-irradiated at different fluences and temperatures, ranged from 1.38 x 1024 to 7.4 x 1025 n/m2 (E > 1.0 MeV) at 473K, 573K and 673K. To take into account the disorder in the microstructure, such as stacking faults and anisotropic coherent lengths, the X-ray diffraction patterns were interpreted using a comprehensive structural model and a refinement program CARBONXS. The deduced structural parameters show the changes of lattice parameters, coherent lengths along the c-axis and the basal plane, and the degree of turbostratic disorder as a function of the irradiation dose. Our results reveal neutron irradiation effects on the microstructure and macroscopic dimension, which are consistent with previous work. The methodology used in this work enables the quantification of the damage on the microstructure of nuclear graphite induced by neutron irradiation.

Keywords: nuclear graphite, neutron irradiation, thermal annealing, recovery behavior, dimensional change, CARBONX, XRD analysis

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Authors: Nan KANG, Pierre Coddet, Hanlin Liao, Christian Coddet

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In this study, the almost dense eutectic Al-12Si alloys were fabricated by selective laser melting (SLM) from the powder mixture of pure Aluminum and pure Silicon, which show the mean particle sizes of 30 μm and 5μm respectively, under the argon environment. The image analysis shows that the highest value of relative density (95 %) was measured for the part obtained at the laser power of 280 W. X ray diffraction (XRD), Optical microscope (OM) and scanning electron microscope (SEM) equipped with X-ray energy dispersive spectroscopy (EDS) were employed to determine the microstructures of the SLM-processed Al-Si alloy, which illustrate that the SLM samples present the ultra-fine microstructure. The XRD results indicate that no clearly phase transformation happened during the SLM process. Additionally, the vaporization behavior of Aluminum was detected for the parts obtained at high laser power. Besides, the maximum microhardness value, about 95 Hv, was measured for the samples obtained at laser power of 280 W, and which shows the highest wear resistance.

Keywords: al-Si alloy, selective laser melting, wear behavior, microstructure

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Authors: Qura-tul-aain Khair

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Purpose- The purpose of this paper is to empirically examining the strength of association of responsive market orientation and proactive market orientation with new product performance and exploring the possible moderating role of organizational learning based on contingency theory. Design/methodology/approach- Data for this study was collected from FMCG manufacturing industry and services industry, where customers are in contact frequently and responses are recorded on continuous basis. Sample was collected through convenience sampling. The data collected from different marketing department and sales personnel were analysed using SPSS 16 version. Findings- The paper finds that responsive market orientation is more strongly associated with new product performance. The moderator, organizational learning, plays it significant role on the relationship between responsive market orientation and new product performance. Research limitations/implications- this paper has taken sample from just FMCG industry and service industry, more work can be done regarding how different-markets require different market orientation behaviours. Originality/value- This paper will be useful for foreign business looking for investing and expanding in Pakistan, they can find opportunity to get sustained competitive advantage through exploring the proactive side of market orientation and importance of organizational learning.

Keywords: organizational learning, proactive market orientation, responsive market orientation, new product performance

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Authors: Dong Tang, Yongli Zhao

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The study of the microstructure of asphalt is of great importance for the analysis of its macroscopic properties. However, the peculiarities of the chemical composition of the asphalt itself and the limitations of existing direct imaging techniques have caused researchers to face many obstacles in studying the microstructure of asphalt. The advantage of small-angle X-ray scattering (SAXS) is that it allows quantitative determination of the internal structure of opaque materials and is suitable for analyzing the microstructure of materials. Therefore, the SAXS technique was used to study the evolution of microstructures on the nanoscale during asphalt aging. And the reasons for the change in scattering contrast during asphalt aging were also explained with the help of Fourier transform infrared spectroscopy (FTIR). SAXS experimental results show that the SAXS curves of asphalt are similar to the scattering curves of scattering objects with two-level structures. The Porod curve for asphalt shows that there is no obvious interface between the micelles and the surrounding mediums, and there is only a fluctuation of the hot electron density between the two. The Beaucage model fit SAXS patterns shows that the scattering coefficient P of the asphaltene clusters as well as the size of the micelles, gradually increase with the aging of the asphalt. Furthermore, aggregation exists between the micelles of asphalt and becomes more pronounced with increasing aging. During asphalt aging, the electron density difference between the micelles and the surrounding mediums gradually increases, leading to an increase in the scattering contrast of the asphalt. Under long-term aging conditions due to the gradual transition from maltenes to asphaltenes, the electron density difference between the micelles and the surrounding mediums decreases, resulting in a decrease in the scattering contrast of asphalt SAXS. Finally, this paper correlates the macroscopic properties of asphalt with microstructural parameters, and the results show that the high-temperature rutting resistance of asphalt is enhanced and the low-temperature cracking resistance decreases due to the aggregation of micelles and the generation of new micelles. These results are useful for understanding the relationship between changes in microstructure and changes in properties during asphalt aging and provide theoretical guidance for the regeneration of aged asphalt.

Keywords: asphalt, Beaucage model, microstructure, SAXS

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Authors: J. Gochermann

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German energy market is under historical change. Turning-off the nuclear power plants and intensive subsidization of the renewable energies causes a paradigm change from big central energy production and distribution to more local structures, bringing the energy production near to the consumption. The formerly big energy market with only a few big energy plants and grid operating companies is changing into a disperse market with growing numbers of small and medium size companies (SME) generating new value-added products and services. This change in then energy market, in Germany called the “Energiewende”, inverts also the previous innovation system. Big power plants and large grids required also big operating companies. Innovations in the energy market focused mainly on big projects and complex energy technologies. Innovation in the new energy market structure is much more dispersed. Increasing number of SME is now able to develop energy production and storage technologies, smart technologies to control the grids, and numerous new energy related services. Innovation is now regional distributed, which is a remarkable problem for the old big energy companies. The paper will explain the change in the German energy market and the paradigm change as well as the consequences for the innovation structure in the German energy market. It will show examples how SME participate from this change and how innovation systems, as well for the big companies and for SME, can be adapted.

Keywords: changing energy markets, disperse innovation, new value-added products and services, SME

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Authors: Rosdyana Mangir Irawan Kusuma, Wei-Chun Kao, Ho-Thi Trang, Yu-Yen Ou, Kai-Lung Hua

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Stock market prediction is still a challenging problem because there are many factors that affect the stock market price such as company news and performance, industry performance, investor sentiment, social media sentiment, and economic factors. This work explores the predictability in the stock market using deep convolutional network and candlestick charts. The outcome is utilized to design a decision support framework that can be used by traders to provide suggested indications of future stock price direction. We perform this work using various types of neural networks like convolutional neural network, residual network and visual geometry group network. From stock market historical data, we converted it to candlestick charts. Finally, these candlestick charts will be feed as input for training a convolutional neural network model. This convolutional neural network model will help us to analyze the patterns inside the candlestick chart and predict the future movements of the stock market. The effectiveness of our method is evaluated in stock market prediction with promising results; 92.2% and 92.1 % accuracy for Taiwan and Indonesian stock market dataset respectively.

Keywords: candlestick chart, deep learning, neural network, stock market prediction

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Authors: Ammar Z. Alshemary, Zafer Evis

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In this study, nanorods of Cr³⁺/SiO₄⁴⁻ codoped hydroxyapatite (Cr³⁺/SiO₄⁴⁻-HA) were synthesized successfully and rapidly through microwave irradiation technique, using (Ca(NO₃)₂•4H₂O), ((NH₄)₂HPO₄), (SiC₈H₂₀O₄) and (Cr(NO₃)₃.9H₂O) as source materials for Ca²⁺, PO₄³⁻, SiO₄⁴⁻ and Cr³⁺ ions, respectively. The impact of dopants on the phase formation and microstructure of the powders were investigated by means of X-ray diffraction (XRD), Fourier transform infrared spectrum analysis (FT-IR) and Field emission electron microscopy (FESEM) techniques. XRD analysis showed that with an incorporation of Cr³⁺/SiO₄⁴⁻ ions into HA structure resulted in peak broadening and reduced peak height due to the amorphous nature and reduced crystallinity of the resulting HA powder. FTIR spectroscopy revealed the existence of the different vibrational modes matching to phosphates and hydroxyl groups. The FESEM analysis showed a change in the crystal shape from spherical to rod shaped particles upon Cr³⁺ doping into the crystal structure. Acknowledgments: This study was supported by Karabük University (Project no. KBÜBAP-17-YD-144). The authors would like to thank for support.

Keywords: nano-hydroxyapatite, microwave, dopants, characterization, microstructure

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Authors: A. P .I. Popoola, V. S. Aigbodion, O. S. I. Fayomi

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The experimental study of the microstructure and properties of Al-Cu-Mg alloy/bean pod ash (BPA) nanoparticles was investigated. The aluminium matrix composites (AMCs) were produced by varying the BPA nanoparticles from 1-4wt%. The microstructure and phases of the composites produced were examined by SEM/EDS and XRD. Properties such as: hardness, tensile strength, impact energy, fatigue and wear were evaluated. The results showed that tensile strength and hardness values increased by 35 and 44.1% at 4wt% BPA nanoparticles with appreciable impact energy. The fatigue limit of 167MPa, 135 MPa and 75Mpa were obtained for the nano-particle (55nm), micro-particle (100µm) BPA composites and unreinforced alloy respectively. The wear properties of the as-cast Al–3.7%Cu-1.4%Mg/BPA nanoparticle have been improved significantly even with a low weight percent of BPA nanoparticle. The properties of the as-cast aluminium nanoparticles (MMNCs) have been improved significantly even with a low weight percent of nano-sized BPAp.

Keywords: bean pod ash nanoparticles, al-cu-mg alloy, mechanical properties, wear, microstructures

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Authors: Irina Bondarenko, Olga Vandina

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The theory of evolutionary economics is the basis for preparation and application of methods forming the stock market infrastructure development concept. The authors believe that the basis for the process of formation and development of the stock market model infrastructure in Russia is the theory of large systems. This theory considers the financial market infrastructure as a whole on the basis of macroeconomic approach with the further definition of its aims and objectives. Evaluation of the prospects for interaction of securities market institutions will enable identifying the problems associated with the development of this system. The interaction of elements of the stock market infrastructure allows to reduce the costs and time of transactions, thereby freeing up resources of market participants for more efficient operation. Thus, methodology of the transaction analysis allows to determine the financial infrastructure as a set of specialized institutions that form a modern quasi-stable system. The financial infrastructure, based on international standards, should include trading systems, regulatory and supervisory bodies, rating agencies, settlement, clearing and depository organizations. Distribution of financial assets, reducing the magnitude of transaction costs, increased transparency of the market are promising tasks in the solution for questions of services level and quality increase provided by institutions of the securities market financial infrastructure. In order to improve the efficiency of the regulatory system, it is necessary to provide "standards" for all market participants. The development of a clear regulation for the barrier to the stock market entry and exit, provision of conditions for the development and implementation of new laws regulating the activities of participants in the securities market, as well as formulation of proposals aimed at minimizing risks and costs, will enable the achievement of positive results. The latter will be manifested in increasing the level of market participant security and, accordingly, the attractiveness of this market for investors and issuers.

Keywords: institutional infrastructure, financial assets, regulatory system, stock market, transparency of the market

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Authors: Matthew Ferguson, Tatyana Konkova, Ioannis Violatos

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Microstructure analysis of additively manufactured (AM) materials is an important step in understanding the interrelationship between mechanical properties and materials performance. Literature on the effect of laser-based AM process parameters on the microstructure in the substrate-deposit interface is limited. The interface region, the adjoining area of substrate and deposit, is characterized by the presence of the fusion zone (FZ) and heat-affected zone (HAZ), experiencing rapid thermal gyrations resulting in thermal-induced transformations. Inconel 718 was utilized as work material for both the substrate and deposit. Three blocks of Inconel 718 material were deposited by Direct Energy Deposition (DED) using three different laser powers, 550W, 750W and 950W, respectively. A coupled thermo-mechanical transient approach was utilized to correlate temperature history to the evolution of microstructure. The thermal history of the deposition process was monitored with the thermocouples installed inside the substrate material. The interface region of the blocks was analyzed with Optical Microscopy (OM) and Scanning Electron Microscopy (SEM), including the electron back-scattered diffraction (EBSD) technique. Laser power was found to influence the dissolution of intermetallic precipitated phases in the substrate and grain growth in the interface region. Microstructure and thermal history data were utilized to draw conclusive comparisons between the investigated process parameters.

Keywords: additive manufacturing, direct energy deposition, electron back-scattered diffraction, finite element analysis, inconel 718, microstructure, optical microscopy, scanning electron microscopy, substrate-deposit interface region

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Authors: Sebastiana Viphindratin, Silvi Asna

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The under ground economy phenomenon is exist in Indonesia. There are some factors which affect the existence this underground economy activity. One of them is a hierarchy power structure that handles the underground economy existence. The example of the existence of underground economy is the occurring informal market in Indonesia. Malang city is one of the city which has this kind of market. Junk night market (JNM) as an underground economy activity is arising in that city. The JNM is located in Gatot Subroto Sidewalk Street. The JNM is a illegal market which sell thrift, antique, imitation and black market goods. The JNM is interesting topic to be discussed, because this market is running in long time without any policy from local government. The JNM activity has their own “power” that run the market rules. Thus, it is important to analyze how the existence and power structure of JNM actors community are in Malang city. This research using qualitative method with phenomenological approach where we try to understand the phenomenon and related actors deeply. The aim of this research is to know the existence and power structure of JNM actors community in Malang. In JNM, there is no any entry barriers and tax charge from Malang government itself. Price competition also occurs because the buyer can do a bargain with the seller. In maintaining buyer loyalty, the JNM actors also do pre-order system. Even though, this market is an illegal market but the JNM actors also give the goods guarantee (without legal contract) as a formal market. In JNM actor’s community, there is no hierarchy and formal power structure. The role in JNM is managed by informal leaders who come up from the trading activity problems that are sidewalk and parking area dividing. Therefore, can be concluded that even the JNM is illegal market but it can survive with natural market pattern. In JNM development, JNM has positive and negative impact for Malang city. The positive impact of JNM is this market can open a new employment but the negative impact is there is no tax income from that market. Therefore, suggested that the government of Malang city should manage and give appropriate policies in this case.

Keywords: junk night market (JNM), Malang city, underground economy, illegal

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Authors: Nadia Sghaier

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In this paper, we examine the influence of the COVID-19 pandemic on the performance of the Tunisian stock market and 12 sectors over a recent period from 23 March 2020 to 18 August 2021, including several waves and the introduction of vaccination. The empirical study is conducted using cointegration techniques which allows for long and short-run relationships. The obtained results indicate that both daily growth in confirmed cases and deaths have a negative and significant effect on the stock market returns. In particular, this effect differs across sectors. It seems more pronounced in financial, consumer goods and industrials sectors. These findings have important implications for investors to predict the behavior of the stock market or sectors returns and to implement hedging strategies during the COVID-19 pandemic.

Keywords: Tunisian stock market, sectors, COVID-19 pandemic, cointegration techniques

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Authors: Saud Al Mahdi

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Traditionally,portfolio managers have been discouraged from timing the market. This means, for example, that equity managers have been forced to adhere strictly to a benchmark with static or relatively stable components, such as the SP 500 or the Russell 3000. This means that the portfolio’s exposures to all risk factors should mimic as closely as possible the corresponding exposures of the benchmark. The main risk factor, of course, is the market itself. Effectively, a long-only portfolio would be constrained to have a beta 1. More recently, however, managers have been given greater discretion to adjust their portfolio’s risk exposures (in particular, the beta of their portfolio) dynamically to match the manager’s beliefs about future performance of the risk factors themselves. This freedom translates into the manager’s ability to adjust the portfolio’s beta dynamically. These strategies have come to be known as smart beta strategies. Adjusting beta dynamically amounts to attempting to "time" the market; that is, to increase exposure when one anticipates that the market will rise, and to decrease it when one anticipates that the market will fall. Traditionally, market timing has been believed to be impossible to perform effectively and consistently. Moreover, if a majority of market participants do it, their combined actions could destabilize the market. The aim of this project is to investigate so-called smart beta strategies to determine if they really can add value, or if they are merely marketing gimmicks used to sell dubious investment strategies.

Keywords: beta, alpha, active portfolio management, trading strategies

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Authors: K. Subbaiah, C. V. Jeyakumar, S. R. Koteswara Rao

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Cast Aluminum-Magnesium-Scandium alloy was Gas Tungsten Arc (GTA) welded, and the microstructure and mechanical properties of the joint and its component parts were examined and analyzed. The global joint fractured in the base metal, and thus possessed slightly greater tensile strength than the base metal. These results clearly show that Gas Tungsten Arc welding is an optimum / suitable welding process for cast Aluminum-Magnesium-Scandium alloys.

Keywords: cast Al-Mg-Sc alloy, GTAW, microstructure, mechanical properties

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Authors: Isabel L. Guidote

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Continued advancements and innovation in the technological arena may yield both beneficial and detrimental effects to market competition in the Philippines. This paper discusses recent developments in the digital sphere which have resulted in improved access to the Philippine market for both producers and consumers. Acknowledging that these developments are likely to disrupt or alter prevailing market conditions, this paper likewise tackles competition theories of harm that may arise as a result of such technological innovations, with reference to cases decided by foreign competition authorities and the European Commission. As the Philippine moves closer to the digital frontier, it is imperative that producers, consumers, and regulators alike be well-equipped to address the risks and challenges posed by these rapid advancements in technology.

Keywords: antitrust, competition law, market competition, technology

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Authors: E. Kharaishvili, M. Chavleishvili, M. Natsvaladze

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The article presents the trends in Georgian wine market development and evaluates the competitive advantages of Georgia to enter the wine market based on its customs, traditions and historical practices combined with modern technologies. In order to analyze the supply of wine, dynamics of vineyard land area and grape varieties are discussed, trends in wine production are presented, trends in export and import are evaluated, local wine market, its micro and macro environments are studied and analyzed based on the interviews with experts and analysis of initial recording materials. For strengthening its position on the international market, the level of competitiveness of Georgian wine is defined, which is evaluated by “ex-ante” and “ex-post” methods, as well as by four basic and two additional factors of the Porter’s diamond method; potential advantages and disadvantages of Georgian wine are revealed. Conclusions are made by identifying the factors that hinder the development of Georgian wine market. Based on the conclusions, relevant recommendations are developed.

Keywords: Georgian wine market, competitive advantage, bio wine, export-import, Porter's diamond model

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Authors: Hailu Getnet

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This study focus on reverse innovation on performance outcomes across developed and subsistence markets context. The subsistence market consists two third of the world population and the largest international market. To date, it has been neglected because of its issues of perceived challenges and seeming unattractiveness compared to the established markets in the west. However, subsistence markets are becoming source of reverse innovation; an innovation that is likely to be adopted first in developing world and successfully traded globally. In response, there is a growing interest on reverse innovation to power the future. Based on the theories of innovation and growing subsistence market literatures, the study propose drivers and outcomes of reverse innovation, a potential similarities and difference in benefiting and challenging firms and consumers in subsistence and developed markets.

Keywords: reverse innovation, subsistence market, developing world, developed market

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Authors: Tamar Lazariashvili

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The paper examines the market of bioproducts in the world and in Georgia. The experience of European countries in the field of production of bioproducts is shown, the level of interest of the population in these products is presented, and the tendency of the demand for them to grow is evaluated. Objectives. The purpose of the research is to identify modern challenges and develop recommendations for development opportunities based on the analysis of the European and local market of organic products. Methodologies. General and specific methods are used in the research process: comparative analysis, induction, deduction. A desk study has been conducted. Findings. It has been revealed that the production of organic products in Georgia is significantly behind the European requirements, in the market of organic products of Georgia there is a formation of a layer of consumers who are in favor of healthy food and are ready to pay a different price. Conclusions. Based on the analysis of the bioproducts market, appropriate recommendations are proposed, namely, the introduction of innovative technologies; financial and legal support by the state; provision of consulting services on the tax system; Elimination of asymmetric information in the market and others.

Keywords: bioproducts market, European experience, production of bioproducts, layer of consumers.

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Authors: Rahim Sabbaghizadeh, Mansor Hashim, Nooshin Shourcheh

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Nanocrystalline Nd8Pr2Fe79-xCo5B6Alx (x=0, 1, 2, 3) magnets were prepared by mechanical alloying and respective heat treatment, and the effects of the addition of Al on the microstructure and magnetic properties of Nd-Fe-Co-B alloy were studied. The changes in the nanostructure and magnetic properties were examined by X-Ray diffraction, combined with Field Emission Scanning electron microscopy (FeSEM) and vibrating sample magnetometer (VSM). Addition of Al was found to be effective for improving the coercivity and the hysteresis squareness in Nd–Fe–Co–B magnets without decreasing much the remanent magnetization.

Keywords: mechanical alloying, nanocrystalline, Nd-Fe-B, vibrating sample magnetomete

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Authors: Bijit Kalita, R. Jayaganthan

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Additive manufacturing (AM) is a novel manufacturing method which provides more freedom in design, manufacturing near-net-shaped parts as per demand, lower cost of production, and expedition in delivery time to market. Among various metals, AM techniques, Laser Powder Bed Fusion (L-PBF) is the most prominent one that provides higher accuracy and powder proficiency in comparison to other methods. Particularly, 17-4 PH alloy is martensitic precipitation hardened (PH) stainless steel characterized by resistance to corrosion up to 300°C and tailorable strengthening by copper precipitates. Additively manufactured 17-4 PH stainless steel exhibited a dendritic/cellular solidification microstructure in the as-built condition. It is widely used as a structural material in marine environments, power plants, aerospace, and chemical industries. The excellent weldability of 17-4 PH stainless steel and its ability to be heat treated to improve mechanical properties make it a good material choice for L-PBF. In this study, the microstructures of martensitic stainless steels in the as-built state, as well as the effects of process parameters, building atmosphere, and heat treatments on the microstructures, are reviewed. Mechanical properties of fabricated parts are studied through micro-hardness and tensile tests. Tensile tests are carried out under different strain rates at room temperature. In addition, the effect of process parameters and heat treatment conditions on mechanical properties is critically reviewed. These studies revealed the performance of L-PBF fabricated 17–4 PH stainless-steel parts under cyclic loading, and the results indicated that fatigue properties were more sensitive to the defects generated by L-PBF (e.g., porosity, microcracks), leading to the low fracture strains and stresses under cyclic loading. Rapid melting, solidification, and re-melting of powders during the process and different combinations of processing parameters result in a complex thermal history and heterogeneous microstructure and are necessary to better control the microstructures and properties of L-PBF PH stainless steels through high-efficiency and low-cost heat treatments.

Keywords: 17–4 PH stainless steel, laser powder bed fusion, selective laser melting, microstructure, additive manufacturing

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Authors: M. A. Yazdi, J. Yang, L. Yihui, H. Su

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The application of recycle waste tires into civil engineering practices, namely asphalt paving mixtures and cementbased materials has been gaining ground across the world. This review summarizes and compares the recent achievements in the area of plain rubberized concrete (PRC), in details. Different treatment methods have been discussed to improve the performance of rubberized Portland cement concrete. The review also includes the effects of size and amount of tire rubbers on mechanical and durability properties of PRC. The microstructure behaviour of the rubberized concrete was detailed.

Keywords: waste rubber aggregates, microstructure, treatment methods, size and content effects

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Authors: Shijie Liu, Jehnming Lin

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This study mainly discussed the mechanical properties of selective laser sintered 304L stainless steel powder specimen. According to a single layer specimen sintering, the microstructure and porosity were observed to find out the proper sintering parameters. A multi-layer sintering experiment was conducted. Based on the microstructure and the integration between layers, the suitable parameters were found out. Finally, the sintered specimens were examined by metallographical inspection, hardness test, tensile test, and surface morphology measurement. The structure of the molten powder coated with unmelted powder was found in metallographic test. The hardness of the sintered stainless steel powder is greater than the raw material. The tensile strength is less than the raw material, and it is corresponding to different scanning paths. The specimen will have different patterns of cracking. It was found that the helical scanning path specimen will have a warpage deformation at the edge of the specimen. The S-scan path specimen surface is relatively flat.

Keywords: laser sintering, sintering path, microstructure, mechanical properties

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Authors: Tarah Bouaricha

Abstract:

The impact of worst natural disasters is analysed in terms of insured losses which happened between 2010 and 2014 on S&P insurance index. Event study analysis is used to test whether natural disasters impact insurance index stock market price. There is no negative impact on insurance stock market price around the disasters event. To analyse the reaction of insurance stock market, normal returns (NR), abnormal returns (AR), cumulative abnormal returns (CAR), cumulative average abnormal returns (CAAR) and a parametric test on AR and on CAR are used.

Keywords: study event, natural disasters, insurance, reinsurance, stock market

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