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Article

H. Rhee and K.N. Subramanian

To understand the roles of service‐related parameters, such as imposed cyclic strain amplitude and cyclic strain rate, on the stress relaxation behaviour of eutectic Sn‐Ag…

Abstract

Purpose

To understand the roles of service‐related parameters, such as imposed cyclic strain amplitude and cyclic strain rate, on the stress relaxation behaviour of eutectic Sn‐Ag solder joints.

Design/methodology/approach

Cyclic shear straining with associated stress relaxation at the shear strain extremes imposed was carried out on pre‐strained eutectic Sn‐Ag solder joints with various cyclic shear straining conditions. Results from such experiments were compared with previously reported findings from monotonic shear straining and stress relaxation tests.

Findings

At higher testing temperatures with a larger cyclic strain amplitude, stress states realized at the subsequent cycle are comparable with, or even gradually increase on, those experienced at the previous cycle, especially after few cycles. The maximum shear stress obtained at each cycle and residual stress during stress relaxation are strongly affected by cyclic strain rate. Stress relaxation during subsequent cycles of straining was found to be strongly dependent on the test temperature, and the imposed cyclic strain amplitude and cyclic strain rate.

Originality/value

In this paper, the experiments were carried out on eutectic Sn‐Ag solder joints with about a 100 μm joint thickness, which are, therefore, representative of those used in microelectronics. Also, there is no systematic study reporting the effects of cyclic straining conditions on the stress relaxation behaviour of eutectic Sn‐Ag solder for this joint configuration in the published literature.

Details

Soldering & Surface Mount Technology, vol. 18 no. 1
Type: Research Article
ISSN: 0954-0911

Keywords

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Article

Wan Seuk Choi and Joon H. Rhee

This paper performs the empirical analysis on the factors affection the hedge effectiveness of Korea Treasury Bond (KTB) Futures by different hedge models. Before…

Open Access

Abstract

This paper performs the empirical analysis on the factors affection the hedge effectiveness of Korea Treasury Bond (KTB) Futures by different hedge models. Before analyzing the factors, firstly, we compare the hedge effectiveness for benchmark bond portfolio among different hedge models. We find that KTB Futures' hedge effectiveness do not produce significant difference depending on the different models.

Secondly, we test hedge effectiveness for the corporate bond. The results vary depending on the credit ranks. Below BBB rating, hedge effectiveness deteriorated significantly. This seems to be caused by the fact that BBB rated bond is more prone to be affected by credit risk rather than interest rate risk.

Thirdly, hedge effectiveness analysis for the maturity term mismatch, KTB Futures has performed poorly as underlying bond maturity mismatching with Futures. Finally, different yield curve shape, Futures price undervaluation or time to maturity of Futures do not produce significant effect for the hedge effectiveness.

In summary hedge effectiveness of KTB Futures (3 Year, 10 Year) seems to be dominantly affected by the 1) underlying hedging bond credit rating and 2) hedge term mismatch. Other factors such as yield curve shape, undervaluation of Futures and time to maturity of Futures has limited contribution under our research.

Details

Journal of Derivatives and Quantitative Studies, vol. 25 no. 3
Type: Research Article
ISSN: 2713-6647

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Article

Jin Woo Kim and Joon H. Rhee

This paper extracts the factors determining the implied volatility skew movements of KOSPI200 index options by applying PCA (Principal Component Analysis). In particular…

Open Access

Abstract

This paper extracts the factors determining the implied volatility skew movements of KOSPI200 index options by applying PCA (Principal Component Analysis). In particular, we analyze the movement of skew depending on the changes of the underlying asset price. As a result, it turned out that two factors can explain 94.6%~99.8% of the whole movement of implied volatility. The factor1 could be interpreted as ‘parallel shift’, and factor2 as the movement of ‘tilt or slope’. We also find some significant structural changes in the movement of skew after the Financial Crisis. The explanatory power of factor1 becomes more important on the movement of skew in both call and put options after the financial crisis. On the other hand, the influences of the factor2 is less. In general, after financial crisis, the volatility skew has the strong tendency to move in parallel. This implies that the changes in the option price or implied volatility due to the some shocks becomes more independent of the strike prices.

Details

Journal of Derivatives and Quantitative Studies, vol. 24 no. 3
Type: Research Article
ISSN: 2713-6647

Keywords

Content available
Article

Young Geun Ji and Joon H. Rhee

ELS (Equity Linked Security) is the structured product which is one of the fast grown and the most successful in Korean financial markets. In particular, ELS with the…

Open Access

Abstract

ELS (Equity Linked Security) is the structured product which is one of the fast grown and the most successful in Korean financial markets. In particular, ELS with the index of stocks as underlying asset (‘index ELS') has shown a remarkable growth since 2010. This paper has analyzed the hedging effects of index ELS to the KOSPI200 index and futures market. It verifies that the hedging of index ELS has not shown any significant effect to the return of KOSPI200 index and futures, but it seems that it effects on the volatility. In other words, as ELS issue amount increases, VKOSPI tends to decrease because ELS issuer which has long vega position is trying to hedge it.

Details

Journal of Derivatives and Quantitative Studies, vol. 23 no. 3
Type: Research Article
ISSN: 2713-6647

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Book part

Md Nuruzzaman

The objective of this study is to investigate how country risk, different political actions from the government and bureaucratic behavior influence the activities in…

Abstract

The objective of this study is to investigate how country risk, different political actions from the government and bureaucratic behavior influence the activities in industry supply chains (SCs) in emerging markets. The main objective of this study is to investigate the influence of these external stakeholders’ elements to the demand-side and supply-side drivers and barriers for improving competitiveness of Ready-Made Garment (RMG) industry in the way of analyzing supply chain. Considering the phenomenon of recent change in the RMG business environment and the competitiveness issues this study uses the principles of stakeholder and resource dependence theory and aims to find out some factors which influence to make an efficient supply chain for improving competitiveness. The RMG industry of Bangladesh is the case application of this study. Following a positivist paradigm, this study adopts a two phase sequential mixed-method research design consisting of qualitative and quantitative approaches. A tentative research model is developed first based on extensive literature review. Qualitative field study is then carried out to fine tune the initial research model. Findings from the qualitative method are also used to develop measures and instruments for the next phase of quantitative method. A survey is carried out with sample of top and middle level executives of different garment companies of Dhaka city in Bangladesh and the collected quantitative data are analyzed by partial least square-based structural equation modeling. The findings support eight hypotheses. From the analysis the external stakeholders’ elements like bureaucratic behavior and country risk have significant influence to the barriers. From the internal stakeholders’ point of view the manufacturers’ and buyers’ drivers have significant influence on the competitiveness. Therefore, stakeholders need to take proper action to reduce the barriers and increase the drivers, as the drivers have positive influence to improve competitiveness.

This study has both theoretical and practical contributions. This study represents an important contribution to the theory by integrating two theoretical perceptions to identify factors of the RMG industry’s SC that affect the competitiveness of the RMG industry. This research study contributes to the understanding of both external and internal stakeholders of national and international perspectives in the RMG (textile and clothing) business. It combines the insights of stakeholder and resource dependence theories along with the concept of the SC in improving effectiveness. In a practical sense, this study certainly contributes to the Bangladeshi RMG industry. In accordance with the desire of the RMG manufacturers, the research has shown that some influential constructs of the RMG industry’s SC affect the competitiveness of the RMG industry. The outcome of the study is useful for various stakeholders of the Bangladeshi RMG industry sector ranging from the government to various private organizations. The applications of this study are extendable through further adaptation in other industries and various geographic contexts.

Details

Sustaining Competitive Advantage Via Business Intelligence, Knowledge Management, and System Dynamics
Type: Book
ISBN: 978-1-78441-764-2

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Article

X.‐Z. Zhang and I. Hassan

To develop a reliable methodology and procedure of simulating the jet‐in‐crossflow using the current turbulence models and numerically investigate the cooling performance…

Abstract

Purpose

To develop a reliable methodology and procedure of simulating the jet‐in‐crossflow using the current turbulence models and numerically investigate the cooling performance of a new scheme for the engines of next generation.

Design/methodology/approach

A new advanced film cooling scheme is proposed based on the literature survey and a systematic methodology developed to successfully predict the right level of heat transfer in the CFD simulation of film cooling.

Findings

The proposed cooling scheme gives considerable lower heat transfer coefficient at the centerline in the near hole region than the traditional cylindrical hole, especially at a high blowing ratio when traditional cylindrical hole undergoes liftoff.

Research limitations/implications

The number of cooling holes in the computational domain is limited by the speed of the computers used.

Practical implications

The new methodology can be used to numerically test new cooling schemes in the design of turbine blades and to provide useful information/data under actual working conditions to design engineers.

Originality/value

This paper provides some useful information on the simulation of film cooling in terms of the performance of different turbulence models and wall treatments and also sends some valuable messages regarding the design of cooling scheme of turbine blades to the technical community.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 16 no. 8
Type: Research Article
ISSN: 0961-5539

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Article

Xiangjian Chen, Di Li, Zhijun Xu and Yue Bai

Quadrotor micro aerial vehicle (MAV) is nonlinear and under actuated plant, and it is difficult to obtain an accurate mathematical model for quadrotor MAV due to…

Abstract

Purpose

Quadrotor micro aerial vehicle (MAV) is nonlinear and under actuated plant, and it is difficult to obtain an accurate mathematical model for quadrotor MAV due to uncertainties. The purpose of this paper is to propose one robust control strategy for quadrotor MAV to accommodate system uncertainties, variations, and external disturbances.

Design/methodology/approach

The robust control strategy is composed of two self‐organizing interval type‐II fuzzy neural networks (SOIT‐IIFNNs) and one PD controller: the PD controller is adopted to control the attitude and position; one of the SOIT‐IIFNNs is designed to learn the inverse model of quadrotor MAV online; the other SOIT‐IIFNNs is the copy of the former one to compensate for model errors, system uncertainties and external disturbances, both structure and parameters of SOIT‐IIFNNs are tuned online at the same time, and then the stability of the resulting quadrotor MAV closed‐loop control system is proved using Lyapunov stability theory.

Findings

The validity of the proposed control method has been verified through real‐time experiments. The experimental results show that the performance of SOIT‐IIFNNs is significantly improved compared with Backstepping‐based controller.

Practical implications

This approach has been used in quadrotor MAV, the controller works well, and it could guarantee quadrotor MAV control system with good performances under uncertainties, variations, and external disturbances.

Originality/value

The proposed SOIT‐IIFNNs controller is interesting for the design of an intelligent control scheme. The main contributions of this paper are: the overall closed‐loop control system is globally stable, demonstrated by Lyapunov stable theory; the tracking error can be asymptotically attenuated to a desired small level around zero by appropriate chosen parameters and learning rates; and the quadrotor MAV control system based on SOIT‐IIFNNs controller can achieve favorable tracking performance.

Details

International Journal of Intelligent Computing and Cybernetics, vol. 4 no. 3
Type: Research Article
ISSN: 1756-378X

Keywords

Content available
Article

Jiandong Chen, Yinyin Wu, Chong Xu, Malin Song and Xin Liu

Non-fossil fuels are receiving increasing attention within the context of addressing global climate challenges. Based on a review of non-fossil fuel consumption in major…

Abstract

Purpose

Non-fossil fuels are receiving increasing attention within the context of addressing global climate challenges. Based on a review of non-fossil fuel consumption in major countries worldwide from 1985 to 2015, the purpose of this paper is to analyze trends for global non-fossil fuel consumption, share of fuel consumption and inequality.

Design/methodology/approach

The similarities were obtained between the logarithmic mean divisia index and the mean-rate-of-change index decomposition analysis methods, and a method was proposed for complete decomposition of the incremental Gini coefficient.

Findings

Empirical analysis showed that: global non-fossil fuel consumption accounts for a small share of the total energy consumption, but presents an increasing trend; the level of global non-fossil fuel consumption inequality is high but has gradually declined, which is mainly attributed to the concentration effect; inequality in global non-fossil fuel consumption is mainly due to the difference between nuclear power and hydropower consumption, but the contributions of nuclear power and hydropower to per capita non-fossil fuel consumption are declining; and population has the greatest influence on global non-fossil fuel consumption during the sampling period.

Originality/value

The main contribution of this study is its analysis of global non-fossil fuel consumption trends, disparities and driving factors. In addition, a general formula for complete index decomposition is proposed and the incremental Gini coefficient is wholly decomposed.

Details

Management Decision, vol. 57 no. 4
Type: Research Article
ISSN: 0025-1747

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Article

Seyyed Mostafa Hoseinalipour, Hamidreza Shahbazian and Bengt Ake Sunden

The study aims to focus on rotation effects on a ribbed channel of gas turbine blades for internal cooling. The combination and interaction between secondary flows…

Abstract

Purpose

The study aims to focus on rotation effects on a ribbed channel of gas turbine blades for internal cooling. The combination and interaction between secondary flows generated by angled rib geometry and Coriolis forces in the rotating channel are studied numerically.

Design/methodology/approach

A radially outward flow passage as an internal cooling test model with and without ribs is used to perform the investigation. Aspect ratio of the passage is 1:1. Square ribs with e/Dh = 0.1, p/e = 10 and four various rib angles of 90°, 75°, 60° and 45° are configured on both the leading and trailing surfaces along the rotating duct. The study covers a Reynolds number of 10,000 and Rotation number in the range of 0-0.15.

Findings

Nusselt numbers in the ribbed duct are 2.5 to 3.5 times those of a smooth square duct, depending on the Rotation number and rib angle. The maximum value is attained for the 45° ribbed surface. The synergy angle between the velocity and temperature gradients is improved by the angled rib secondary flows and Coriolis vortex. The decrease of the synergy angle is 8.9, 13.4, 12.1 and 10.1 per cent for the 90°, 75°, 60° and 45° ribbed channels with rotation, respectively. Secondary flow intensity is increased by rotation in the 90° and 75° ribbed ducts and is decreased in 45° and 60° ribbed cases for which the rib-induced secondary flow dominates.

Originality/value

The primary motivation behind this work is to investigate the possibility of heat transfer enhancement by vortex flow with developing turbulence in the view point of the field synergy principle and secondary flow intensity.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 29 no. 1
Type: Research Article
ISSN: 0961-5539

Keywords

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Article

A. Immarigeon and I. Hassan

The present study aims to conduct a numerical investigation of a novel film cooling scheme combining in‐hole impingement cooling and flow turbulators with traditional…

Abstract

Purpose

The present study aims to conduct a numerical investigation of a novel film cooling scheme combining in‐hole impingement cooling and flow turbulators with traditional downstream film cooling, and was originally proposed by Pratt & Whitney Canada for high temperature gas turbine applications.

Design/methodology/approach

Steady‐state simulations were performed and the flow was considered incompressible and turbulent. The CFD package FLUENT 6.1 was used to solve the Navier‐Stokes equations numerically, and the preprocessor, Gambit, was used to generate the required grid.

Findings

It was determined that the proposed scheme geometry can prevent coolant lift‐off much better than standard round holes, since the cooling jet remains attached to the surface at much higher blowing rates, indicating a superior performance for the proposed scheme.

Research limitations/implications

The present study was concerned only with the downstream effectiveness aspect of performance. The performance related to the heat transfer coefficient is a prospective topic for future studies.

Practical implications

Advanced and innovative cooling techniques are essential in order to improve the efficiency and power output of gas turbines. This scheme combines in‐hole impingement cooling and flow turbulators with traditional downstream film cooling for improved cooling capabilities.

Originality/value

This new advanced cooling scheme both combines the advantages of traditional film cooling with those of impingement cooling, and provides greater airfoil protection than traditional film cooling. This study is of value for those interested in gas turbine cooling.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 16 no. 4
Type: Research Article
ISSN: 0961-5539

Keywords

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