The conditions to which marine paints are subjected are undoubtedly very much more severe than those which any similar types of paint meet on land. Conditions of application…
Abstract
The conditions to which marine paints are subjected are undoubtedly very much more severe than those which any similar types of paint meet on land. Conditions of application, which are more often than not bad, add further complications. In dry‐dock painting the ship must undock to schedule and painting must, therefore, go on regardless of rain, frost and fog. As a result, most marine paints and compositions for the outer hull must be a compromise between the ideal and the practical, rather than the best possible material which could be used under perfectly controlled conditions.
Paints and the Part they Play in the Fight Against Corrosion. H. Hollis, B.SC., A.R.I.C., and L. J. COLEMAN (Chemical Inspectorate, Ministry of Supply). Dr. W. F. Higgins…
Abstract
Paints and the Part they Play in the Fight Against Corrosion. H. Hollis, B.SC., A.R.I.C., and L. J. COLEMAN (Chemical Inspectorate, Ministry of Supply). Dr. W. F. Higgins (Magnesium Elektron Ltd.) stated that the importance of surface preparation could not be too greatly stressed. Continuing, he said that the authors had made what seemed to him to be an extraordinary statement, although up to a point it was really common sense. They had said that a primer was applied to protect the metal surface, and then the top coat or maybe the intermediate coat was applied to protect the primer. He gathered they were not referring to protection merely against physical damage. But why did they do that? It should not be necessary. On the previous day it was stated by Mr. Rogers that it was done because the ratio of binder to solid was small, and therefore there was not good adhesion. Dr. Higgins suggested that, if a primer were applied to the metal surface and it had not good adhesion, one could not make it good by putting another coat of paint on top of it.
Helen Bishop, Michael Bradbury and Tony van Zijl
We assess the impact of NZ IAS 32 on the financial reporting of convertible financial instruments by retrospective application of the standard to a sample of New Zealand companies…
Abstract
We assess the impact of NZ IAS 32 on the financial reporting of convertible financial instruments by retrospective application of the standard to a sample of New Zealand companies over the period 1988 ‐ 2003. NZ IAS 32 has a broader definition of liabilities than does the corresponding current standard (FRS‐31) and it does not permit convertibles to be reported under headings that are intermediate to debt and equity. The results of the study indicate that in comparison with the reported financial position and performance, the reporting of convertibles in accordance with NZ IAS 32 would result in higher amounts for liabilities and higher interest. Thus, analysts using financial statement information to assess risk of financial distress will need to revise the critical values of commonly used measures of risk and performance when companies report under NZ IAS
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Dmitrij Celov and Mariarosaria Comunale
Recently, star variables and the post-crisis nature of cyclical fluctuations have attracted a great deal of interest. In this chapter, the authors investigate different methods of…
Abstract
Recently, star variables and the post-crisis nature of cyclical fluctuations have attracted a great deal of interest. In this chapter, the authors investigate different methods of assessing business cycles (BCs) for the European Union in general and the euro area in particular. First, the authors conduct a Monte Carlo (MC) experiment using a broad spectrum of univariate trend-cycle decomposition methods. The simulation aims to examine the ability of the analysed methods to find the observed simulated cycle with structural properties similar to actual macroeconomic data. For the simulation, the authors used the structural model’s parameters calibrated to the euro area’s real gross domestic product (GDP) and unemployment rate. The simulation outcomes indicate the sufficient composition of the suite of models (SoM) consisting of popular Hodrick–Prescott, Christiano–Fitzgerald and structural trend-cycle-seasonal filters, then used for the real application. The authors find that: (i) there is a high level of model uncertainty in comparing the estimates; (ii) growth rate (acceleration) cycles have often the worst performances, but they could be useful as early-warning predictors of turning points in growth and BCs; and (iii) the best-performing MC approaches provide a reasonable combination as the SoM. When swings last less time and/or are smaller, it is easier to pick a good alternative method to the suite to capture the BC for real GDP. Second, the authors estimate the BCs for real GDP and unemployment data varying from 1995Q1 to 2020Q4 (GDP) or 2020Q3 (unemployment), ending up with 28 cycles per country. This analysis also confirms that the BCs of euro area members are quite synchronized with the aggregate euro area. Some major differences can be found, however, especially in the case of periphery and new member states, with the latter improving in terms of coherency after the global financial crisis. The German cycles are among the cyclical movements least synchronized with the aggregate euro area.
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Bijuan Yan, Huijun Liang, Minjie Jin, Zhanlong Li and Yong Song
In the vibration reduction field, constrained stand-off layer damping cylindrical shell plays an important role. However, due to the lack of accurate analysis of its damping…
Abstract
Purpose
In the vibration reduction field, constrained stand-off layer damping cylindrical shell plays an important role. However, due to the lack of accurate analysis of its damping characteristics, this hinders its further research and application. Therefore, the purpose of this paper is concerned with an accurate solution for the vibration-damping characteristics of a constrained stand-off-layer damping cylindrical shell (CSDCS) under various classical boundary conditions and conducts a further analysis.
Design/methodology/approach
Based on the Rayleigh–Ritz method and the Hamilton principle, a dynamic model of CSDCS is established. Then the loss factor and the frequency of CSDCS are obtained. The correctness and convergence behavior of the present model are verified by comparing the calculation results with the literature. By using for various classical boundary conditions without any special modifications in the solution procedure, the characteristics of CSDCS with S-S, C-C, C-S, C-F and S-F boundaries are discussed.
Findings
The Rayleigh–Ritz method is effective in handling the problem of CSDCS with different boundaries and an accurate solution is obtained. The boundary conditions have an important influence on the vibration and damping behavior of the CSDCS.
Originality/value
Based on the Rayleigh–Ritz method and Hamilton principle, a dynamic model of CSDCS is established for the first time, and then the loss factor and frequency of CSDCS are obtained. In addition, the effectiveness of adding the stand-off layer between the base shell and the viscoelastic layer is confirmed by discussing the characteristics of CSDCS with S-S, C-C, C-S, C-F and S-F boundaries.