Search results for "Microstructure"
showing 10 items of 707 documents
The evolution of market power in European banking
2017
This paper analyses the effect that European financial market integration has had on the evolution of the banks' market power disparities. The results show that market power disparity has narrowed among eurozone banks. The reduction is attributable to the convergence in the average levels of market power of the European banking sectors. In contrast, the disparities observed within each country have remained stable. As a result, the measures adopted to advance towards a single banking market should be complemented by measures at the national level designed to intensify competition among the banks within a given country.
Value based trading of real assets in shipping under stochastic freight rates
2009
The article uses a real options valuation model with stochastic freight rates to investigate market efficiency and the economics of switching between the dry bulk and the tanker markets in international shipping. A dry bulk carrier is replaced with a tanker when the expected net present value of such a switch is optimal from a real options based decision rule. Depending on the development of the markets a reversal may take place later. The cost and demand parameters upon which the decisions to switch are made, including the stochastic characteristics of freight rates, are estimated from an empirical analysis that is updated every week throughout a 12-year time period from 1993 to 2005. The …
High performance in after-sales support services in the automotive industry
2009
In the automotive aftermarket industry, market development has become more than merely the offer of a core product portfolio. With the aim of genuine differentiation and increased customer loyalty, the so-called value-added services have been brought into the market as separate/independent services or as product-supporting services by the automotive industry. However, owing to the increasing price erosion and budget pressure in practice, it has become essential for companies to ensure the effectiveness and efficiency of the services offered. The groundwork of effective and efficient service is a market- and customer-oriented service portfolio. This in turn requires a service-controlling sys…
Market entry decisions of US small and medium‐sized software firms
2008
PurposeThe purpose of this paper is to investigate market entry decisions of the US software SMEs by analyzing the impact of the most obvious factors (cultural distance, geographical distance, country risk, and three market size variables) in traditional internationalization theories to target country selection. By investigating the influence of these commonly cited macro‐level factors, this study proposes the best indicator for market entry decisions of the US small and medium‐sized software firms.Design/methodology/approachThis study uses a quantitative research approach applied to a sample of 100 US small and medium‐sized software firms.FindingsEmpirical findings in this study indicate t…
How markets slowly digest changes in supply and demand
2008
In this article we revisit the classic problem of tatonnement in price formation from a microstructure point of view, reviewing a recent body of theoretical and empirical work explaining how fluctuations in supply and demand are slowly incorporated into prices. Because revealed market liquidity is extremely low, large orders to buy or sell can only be traded incrementally, over periods of time as long as months. As a result order flow is a highly persistent long-memory process. Maintaining compatibility with market efficiency has profound consequences on price formation, on the dynamics of liquidity, and on the nature of impact. We review a body of theory that makes detailed quantitative pr…
Design Of Experiments for the optimization the process parameters of thixotropic aluminum alloy
2006
The success of the thixoforming process depends on the possibility to confer to material, when it is found in the semisolid state, a microstructure characterized by globular particles of solid phase surrounded by a continuous film of liquid phase; such microstructure is obtainable through particular thermo-mechanical treatments. In the present research, in order to optimize the influence of process parameters in the step in which the thixotropic properties are conferred to the AA7075 aluminum alloy, the statistic technique of the Design Of Experiments (DOE) has been used. The advantages in the application of such technique are expressible in terms of reduction the times of development of pr…
Femtosecond pulse compression in a hollow-core photonic bandgap fiber by tuning its cross section
2012
Abstract We present a numerical study of soliton pulse compression in a seven-cell hollow-core photonic bandgap fiber. We analyze the enhancement of both the compression factor and the pulse shape quality of 360 nJ femtosecond pulses at the wavelength of 800 nm by tuning the cross section size of the fiber. We use the generalized non-linear Schrodinger equation in order to modeled the propagation of light pulses along the fiber. Our numerical results show that output compressed pulses can be obtained, in a propagation length of 31 cm, with a compression factor of 5.7 and pulse shape quality of 77% for a reduction of 4.5% of the cross section size of the fiber. The predicted compression fact…
Pore fabric geometry inferred from magnetic and acoustic anisotropies in rocks with various mineralogy, permeability and porosity.
2014
14 pages; International audience; he ferrofluid impregnation technique combined with anisotropy of magnetic susceptibility measurements (AMSff) is one of the ways to analyze the 3-D geometry of the pore space in a rock and indirectly to infer the anisotropy of permeability. We applied this method on different types of rocks (sandstones and carbonates) with a range of different porosity values (10-30%) and permeability (1 mD to 1 D). To get additional information on both the pore aspect ratio and the directional anisotropy we used another technique, measuring the anisotropy of P-waves velocity (APV) in dry and water saturated conditions. Comparing between both methods shows that despite the …
Using organoclay to promote morphology refinement and co-continuity in high-density polyethylene/polyamide 6 blends – Effect of filler content and po…
2010
We investigate the gradual changes of the microstructure of two blends of high-density polyethylene (HOPE) and polyamide 6 (PA6) at opposite composition filled with increasing amounts of an organo-modified clay. The filler locates preferentially inside the polyamide phase, bringing about radical alterations in the micron-scale arrangement of the polymer phases. When the host polyamide represents the major constituent, a sudden reduction of the average sizes of the polyethylene droplets was observed upon addition of even low amounts of organoclay. A morphology refinement was also noticed at low filler contents when the particles distributes inside the minor phase. In this case, however, keep…
Effects of Behavioural Finance on Emerging Capital Markets
2014
Abstract A recent common view of finance experts is that it is becoming increasingly difficult to understand how the economy as a whole works. Although the efficient market theory might be considered an ideal model enabling the interpretation of market behavior, it has begun to lose ground, and the rationality hypothesis failed to explain the excessive volatility of the returns and trading volume recorded on both developed capital markets and emerging ones. Adding the behavioral finance perspective to the equation can help us to understand better how market agents will react. In this article, we investigate the factors that may explain the trading volume evolution on two emerging capital ma…