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1 – 10 of 644Guanchen Liu, Dongdong Xu, Zifu Shen, Hongjie Xu and Liang Ding
As an advanced manufacturing method, additive manufacturing (AM) technology provides new possibilities for efficient production and design of parts. However, with the continuous…
Abstract
Purpose
As an advanced manufacturing method, additive manufacturing (AM) technology provides new possibilities for efficient production and design of parts. However, with the continuous expansion of the application of AM materials, subtractive processing has become one of the necessary steps to improve the accuracy and performance of parts. In this paper, the processing process of AM materials is discussed in depth, and the surface integrity problem caused by it is discussed.
Design/methodology/approach
Firstly, we listed and analyzed the characterization parameters of metal surface integrity and its influence on the performance of parts and then introduced the application of integrated processing of metal adding and subtracting materials and the influence of different processing forms on the surface integrity of parts. The surface of the trial-cut material is detected and analyzed, and the surface of the integrated processing of adding and subtracting materials is compared with that of the pure processing of reducing materials, so that the corresponding conclusions are obtained.
Findings
In this process, we also found some surface integrity problems, such as knife marks, residual stress and thermal effects. These problems may have a potential negative impact on the performance of the final parts. In processing, we can try to use other integrated processing technologies of adding and subtracting materials, try to combine various integrated processing technologies of adding and subtracting materials, or consider exploring more efficient AM technology to improve processing efficiency. We can also consider adopting production process optimization measures to reduce the processing cost of adding and subtracting materials.
Originality/value
With the gradual improvement of the requirements for the surface quality of parts in the production process and the in-depth implementation of sustainable manufacturing, the demand for integrated processing of metal addition and subtraction materials is likely to continue to grow in the future. By deeply understanding and studying the problems of material reduction and surface integrity of AM materials, we can better meet the challenges in the manufacturing process and improve the quality and performance of parts. This research is very important for promoting the development of manufacturing technology and achieving success in practical application.
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This research provides some evidence by the vine copula approach, suggesting the significant and symmetric causal relation between subsections of Baltic Exchange and hence…
Abstract
Purpose
This research provides some evidence by the vine copula approach, suggesting the significant and symmetric causal relation between subsections of Baltic Exchange and hence concluding that investing in different indexes, which is currently a risk diversification system, is not a correct risk reduction strategy.
Design/methodology/approach
The daily observations of Baltic Capesize Index (BCI), Baltic Handysize Index (BHSI), Baltic Dirty Tanker Index (BDTI) and Baltic LNG Tanker Index (BLNG) over an eight-year period have been used. After collecting data, calculating the return and estimating the marginal distribution of return rates for each of the indexes applying asymmetric power generalized autoregressive conditional heteroskedasticity and autoregressive moving average (APGARCH-ARMA), and with the assumption of skew student's t-distribution, the dependence of Baltic indexes was modeled based on Vine-R structures.
Findings
A positive and symmetrical correlation was observed between the study groups. High and low tail dependence is observed between all four indexes. In other words, the sector business groups associated with each of these indexes react similarly to the extreme events of other groups. The BHSI has a pivotal role in examining the dependency structure of Baltic Exchange indexes. That is, in addition to the direct dependence of Baltic groups, the dependence of each group on the BHSI can transmit accidents and shocks to other groups.
Practical implications
Since the Baltic Exchange indexes are tradable, these findings have implications for portfolio design and hedging strategies for investors in shipping markets.
Originality/value
Vine copula structures proves the causal relationship between different Baltic Exchange indexes, which are derived from different types of markets.
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Di Kang, Steven W. Kirkpatrick, Zhipeng Zhang, Xiang Liu and Zheyong Bian
Accurately estimating the severity of derailment is a crucial step in quantifying train derailment consequences and, thereby, mitigating its impacts. The purpose of this paper is…
Abstract
Purpose
Accurately estimating the severity of derailment is a crucial step in quantifying train derailment consequences and, thereby, mitigating its impacts. The purpose of this paper is to propose a simplified approach aimed at addressing this research gap by developing a physics-informed 1-D model. The model is used to simulate train dynamics through a time-stepping algorithm, incorporating derailment data after the point of derailment.
Design/methodology/approach
In this study, a simplified approach is adopted that applies a 1-D kinematic analysis with data obtained from various derailments. These include the length and weight of the rail cars behind the point of derailment, the train braking effects, derailment blockage forces, the grade of the track and the train rolling and aerodynamic resistance. Since train braking/blockage effects and derailment blockage forces are not always available for historical or potential train derailment, it is also necessary to fit the historical data and find optimal parameters to estimate these two variables. Using these fitted parameters, a detailed comparison can be performed between the physics-informed 1-D model and previous statistical models to predict the derailment severity.
Findings
The results show that the proposed model outperforms the Truncated Geometric model (the latest statistical model used in prior research) in estimating derailment severity. The proposed model contributes to the understanding and prevention of train derailments and hazmat release consequences, offering improved accuracy for certain scenarios and train types
Originality/value
This paper presents a simplified physics-informed 1-D model, which could help understand the derailment mechanism and, thus, is expected to estimate train derailment severity more accurately for certain scenarios and train types compared with the latest statistical model. The performance of the braking response and the 1-D model is verified by comparing known ride-down profiles with estimated ones. This validation process ensures that both the braking response and the 1-D model accurately represent the expected behavior.
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Samhita Vemuri and Ziaul Haque Munim
While previous studies focused mainly on East Asia to Europe or United States trade routes, in recent years, trade among South-East Asian countries has increased notably. The…
Abstract
Purpose
While previous studies focused mainly on East Asia to Europe or United States trade routes, in recent years, trade among South-East Asian countries has increased notably. The price of transporting a container is not fixed and can fluctuate heavily over the course of a week. Besides, extant literature only identified seasonality patterns in the container freight market, but did not explore route-varying seasonality patterns. Hence, this study analyses container freight seasonality patterns of the six South-East Asian routes of the South-East Asian Freight Index (SEAFI) and the index itself and forecasts them.
Design/methodology/approach
Data of the composite SEAFI and six routes are collected from the Shanghai Shipping Exchange (SSE) including 167 weekly observations from 2016 to 2019. The SEAFI and individual route data reflect spot rates from the Shanghai Port to South-East Asia base ports. The authors analyse seasonality patterns using polar plots. For forecasting, the study utilize two univariate models, autoregressive integrated moving average (ARIMA) and seasonal autoregressive neural network (SNNAR). For both models, the authors compare forecasting results of original level and log-transformed data.
Findings
This study finds that the seasonality patterns of the six South-East Asian container trade routes are identical in an overall but exhibits unique characteristics. ARIMA models perform better than SNNAR models for one-week ahead test-sample forecasting. The SNNAR models offer better performance for 4-week ahead forecasting for two selected routes only.
Practical implications
Major industry players such as shipping lines, shippers, ship-owners and others should take into account the route-level seasonality patterns in their decision-making. Forecast analysts can consider using the original level data without log transformation in their analysis. The authors suggest using ARIMA models in one-step and four-step ahead forecasting for majority of the routes. The SNNAR models are recommended for multi-step forecasting for Shanghai to Vietnam and Shanghai to Thailand routes only.
Originality/value
This study analyses a new shipping index, that is, the SEAFI and its underlying six routes. The authors analyze the seasonality pattern of container freight rate data using polar plot and perform forecasting using ARIMA and SNNAR models. Moreover, the authors experiment forecasting performance of log-transformed and non-transformed series.
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Phuong Thi Ly Nguyen, Nha Thanh Huynh and Thanh Thanh Canh Huynh
The authors investigate how foreign investment in securities market informs about the future firm performance in emerging markets.
Abstract
Purpose
The authors investigate how foreign investment in securities market informs about the future firm performance in emerging markets.
Design/methodology/approach
The authors define the independent variable, abnormal foreign investment (AFI) as the residuals of the foreign ownership equation. The authors regress foreign ownership on its first lag and factors and define the residuals as the AFI. The AFI is the over- or under-investment reflecting foreign conscious (clear-purpose) investment, thus better indicating how foreign investment affects firm performance. The dependent variable is Tobin’s q (Q), which represents the firm performance. Then, the authors regress the Tobin’s q next quarters (Qt + k) on the AFI current quarter (AFIt). The authors use a two-step generalized method of moments (GMM) and check endogeneity with the D-GMM model for the regression.
Findings
The results show that the current AFI is positively correlated with the firm performance in each of the next four quarters (the following one year). This positive relationship is pronounced for large firms, firms with no large foreign investors, liquid firms and firms listed in the active market. The results suggest that foreign investment might choose well-productive firms already. Also, the current AFI is significantly positively correlated with stock returns in each of the next three quarters. These results suggest that the AFI is informative up to one-year period.
Research limitations/implications
The results suggest that foreign investors (most of them are small) in the Vietnamese market might choose well-productive firms already. However, if the large investors have long-term investment in tangible, intangible, human capital and so on, and lead to a significant increase in firms’ performance is still the limitation of this paper.
Practical implications
The results of this paper may guide investors whose portfolios are composed of stocks with foreign investment.
Originality/value
This paper adds to the literature to enrich the conclusion of a positive relationship between foreign ownership and firm performance.
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Fulin Shang, Xiyue Teng and Minyoung Park
The purpose of this study is to quantify port efficiency assessment indicators to analyze the impact of COVID-19 on Chinese One Belt One Road (OBOR) ports.
Abstract
Purpose
The purpose of this study is to quantify port efficiency assessment indicators to analyze the impact of COVID-19 on Chinese One Belt One Road (OBOR) ports.
Design/methodology/approach
This study utilized a grey prediction model GM(1,1) to forecast five relevant indicators for each of the 17 OBOR ports both with and without COVID-19 background conditions. Additionally, the data envelopment analysis (DEA) efficiency assessment approach was used to analyze the impact of COVID-19 on port efficiency.
Findings
The results indicate that cargo and container throughput growth rates during the COVID-19 pandemic are reduced by 1.7 and 2.1%, respectively. There was also a noticeable reduction in technological efficiency (TE) as well as pure technological efficiency (PTE), while scale efficiency (SE) remained largely unaffected. Furthermore, the dynamic efficiency MI was mainly negatively impacted by changes in overall efficiency change (EFFCH), where pure efficiency change (PECH) less than one contributed significantly towards overall regression of port efficiencies during this period.
Originality/value
This paper is unique in its use of a combination of the grey prediction model and DEA efficiency assessment to quantify changes in important indicators during pandemic periods. This approach not only provides a quantitative understanding of the impact on port-level efficiency through numerical quantification but also offers readers an intuitive understanding.
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Pasquale Legato and Rina Mary Mazza
An integrated queueing network focused on container storage/retrieval operations occurring on the yard of a transshipment hub is proposed. The purpose of the network is to support…
Abstract
Purpose
An integrated queueing network focused on container storage/retrieval operations occurring on the yard of a transshipment hub is proposed. The purpose of the network is to support decisions related to the organization of the yard area, while also accounting for operations policies and times on the quay.
Design/methodology/approach
A discrete-event simulation model is used to reproduce container handling on both the quay and yard areas, along with the transfer operations between the two. The resulting times, properly estimated by the simulation output, are fed to a simpler queueing network amenable to solution via algorithms based on mean value analysis (MVA) for product-form networks.
Findings
Numerical results justify the proposed approach for getting a fast, yet accurate analytical solution that allows carrying out performance evaluation with respect to both organizational policies and operations management on the yard area.
Practical implications
Practically, the expected performance measures on the yard subsystem can be obtained avoiding additional time-expensive simulation experiments on the entire detailed model.
Originality/value
As a major takeaway, deepening the MVA for generally distributed service times has proven to produce reliable estimations on expected values for both user- and system-oriented performance metrics.
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Milad Shabanian and Nicole Leo Braxtan
Thermomechanical behavior of intermediate-size beam-to-wall assemblies including Glulam-beams connected to cross-laminated timber (CLT) walls with T-shape steel doweled…
Abstract
Purpose
Thermomechanical behavior of intermediate-size beam-to-wall assemblies including Glulam-beams connected to cross-laminated timber (CLT) walls with T-shape steel doweled connections was investigated at ambient temperature (AT) and after and during non-standard fire exposure.
Design/methodology/approach
Three AT tests were conducted to evaluate the load-carrying capacity and failure modes of the assembly at room temperature. Two post-fire performance (PFP) tests were performed to study the impact of 30-min (PFP30) and 60-min (PFP60) partial exposure to a non-standard fire on the residual strength of the assemblies. The assemblies were exposed to fire in a custom-designed frame, then cooled and loaded to failure. A fire performance (FP) test was conducted to study the fire resistance (FR) during non-standard fire exposure by simultaneously applying fire and a mechanical load equal to 65% of the AT load carrying capacity.
Findings
At AT, embedment failure of the dowels followed by splitting failure at the Glulam-beam and tensile failure of the epoxy between the layers of CLT-walls were the dominant failure modes. In both PFP tests, the plastic bending of the dowels was the only observed failure mode. The residual strength of the assembly was reduced 14% after 30 min and 37% after 60 min of fire exposure. During the FP test, embedment failure of timber in contact with the dowels was the only major failure mode, with the maximum rate of displacement at 51 min into the fire exposure.
Originality/value
This is the first time that the thermomechanical performance of such an assembly with a full-contact connection is presented.
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Mohammadreza Tavakoli Baghdadabad
We propose a risk factor for idiosyncratic entropy and explore the relationship between this factor and expected stock returns.
Abstract
Purpose
We propose a risk factor for idiosyncratic entropy and explore the relationship between this factor and expected stock returns.
Design/methodology/approach
We estimate a cross-sectional model of expected entropy that uses several common risk factors to predict idiosyncratic entropy.
Findings
We find a negative relationship between expected idiosyncratic entropy and returns. Specifically, the Carhart alpha of a low expected entropy portfolio exceeds the alpha of a high expected entropy portfolio by −2.37% per month. We also find a negative and significant price of expected idiosyncratic entropy risk using the Fama-MacBeth cross-sectional regressions. Interestingly, expected entropy helps us explain the idiosyncratic volatility puzzle that stocks with high idiosyncratic volatility earn low expected returns.
Originality/value
We propose a risk factor of idiosyncratic entropy and explore the relationship between this factor and expected stock returns. Interestingly, expected entropy helps us explain the idiosyncratic volatility puzzle that stocks with high idiosyncratic volatility earn low expected returns.
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Joseph Lwaho and Bahati Ilembo
This paper was set to develop a model for forecasting maize production in Tanzania using the autoregressive integrated moving average (ARIMA) approach. The aim is to forecast…
Abstract
Purpose
This paper was set to develop a model for forecasting maize production in Tanzania using the autoregressive integrated moving average (ARIMA) approach. The aim is to forecast future production of maize for the next 10 years to help identify the population at risk of food insecurity and quantify the anticipated maize shortage.
Design/methodology/approach
Annual historical data on maize production (hg/ha) from 1961 to 2021 obtained from the FAOSTAT database were used. The ARIMA method is a robust framework for forecasting time-series data with non-seasonal components. The model was selected based on the Akaike Information Criteria corrected (AICc) minimum values and maximum log-likelihood. Model adequacy was checked using plots of residuals and the Ljung-Box test.
Findings
The results suggest that ARIMA (1,1,1) is the most suitable model to forecast maize production in Tanzania. The selected model proved efficient in forecasting maize production in the coming years and is recommended for application.
Originality/value
The study used partially processed secondary data to fit for Time series analysis using ARIMA (1,1,1) and hence reliable and conclusive results.
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