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Article
Publication date: 15 August 2016

Ben Brown, Wes Everhart and Joe Dinardo

In the development of powder bed additive manufacturing (AM) process parameters, the characterization of mechanical properties is generally performed through relatively large…

637

Abstract

Purpose

In the development of powder bed additive manufacturing (AM) process parameters, the characterization of mechanical properties is generally performed through relatively large mechanical test samples that represent a bulk response. This provides an accurate representation of mechanical properties for equivalently sized or larger parts. However, as feature size is reduced, mechanical properties transition from a standard bulk response to a thin wall response where lower power border scans and surface roughness have a larger effect.

Design/methodology/approach

For this study, samples of wall thickness varying between 4.0 and 0.25 mm were built in 304L on the selective laser melting (SLM) platform and Ti-6Al-4V on the electron beam melting (EBM) platform. Samples were then mechanically tested, and fractography was performed for analysis.

Findings

This study experimentally identifies the threshold between bulk and thin wall mechanical properties for 304L SS on the SLM platform and Ti-6Al-4V on the EBM platform. A possible method for improving those properties and shifting the transition from bulk to thin wall response to smaller wall thicknesses by manipulation of scan pattern was investigated.

Originality/value

This study is a novel investigation into the effect of reduced wall thickness on the mechanical properties of a part produced by powder bed AM.

Details

Rapid Prototyping Journal, vol. 22 no. 5
Type: Research Article
ISSN: 1355-2546

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Article
Publication date: 5 June 2020

Moeti Damane and Imtiaz Sifat

This paper sets out to investigate whether the four members of the common monetary area (CMA) regime experience similar inflation-unemployment dynamics as explained by the…

288

Abstract

Purpose

This paper sets out to investigate whether the four members of the common monetary area (CMA) regime experience similar inflation-unemployment dynamics as explained by the Phillips Curve phenomenon.

Design/methodology/approach

This study uses a combination of seemingly unrelated regression (SUR) and Copula based marginal regression techniques to investigate existence of a common Phillips curve (PC) between members of the CMA. Model estimation was done using country specific annual time series data for inflation, unemployment and imports spanning from 1980 to 2014.

Findings

We find evidence of contemporaneous correlation between the residuals of individual CMA PC equations and a statistically significant trade-off between inflation and unemployment for all CMA countries. Wald test results of cross-equation restrictions reveal a 9.94% chance of a common unemployment coefficient for CMA countries.

Originality/value

Together, the results of the SUR and Gaussian Copula techniques provide mixed and inconclusive evidence to support the existence of a common PC among CMA member states. This study is the first of its kind in examining this phenomenon for currency board regimes like CMA, and one of the very few among emerging market economies.

Details

Journal of Economic Studies, vol. 47 no. 6
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 10 January 2023

Guoyu Lin, Anna Bergman Brown, Eric Lin and Chunhao Xu

Unionization is generally thought to improve employee welfare through higher compensation and benefits. However, managers of unionized firms have incentives to manage earnings…

249

Abstract

Purpose

Unionization is generally thought to improve employee welfare through higher compensation and benefits. However, managers of unionized firms have incentives to manage earnings downward to avoid sharing rents with unionized workers, which may explain why empirical findings on the association between unionization and employee compensation are mixed. This paper develops an analytical model incorporating earnings management into the relationship between newly unionized firms and employee compensation.

Design/methodology/approach

The authors develop an analytical model that relies on Nash bargaining theory and signal jamming (Stein, 1989; Fischer and Verrecchia, 2000; Dye and Sridhar, 2004) and model a setting where newly unionized workers' collective bargaining power increases substantially. The authors' model analyzes the relationship between newly unionized firms and employee wages and benefits while incorporating firms' incentives to engage in earnings management.

Findings

The authors find that newly unionized firms are more likely to engage in income-decreasing earnings management to avoid paying higher salaries and wages to workers. Further, the authors find that this association is more pronounced when (1) the correlation of firms' earnings across periods is higher, (2) the cost of earnings management is lower and (3) firms' earnings are more volatile.

Originality/value

This is the first paper to analytically model the effect of new unionization on firms' earnings management and workers' welfare. The authors' model offers new cross-sectional predictions that have not been tested in the prior literature. Specifically, the authors show that newly unionized firms are more likely to engage in income-decreasing earnings management; when earnings are more highly correlated, the cost of earnings management is lower and earnings are more volatile. The authors' findings may be relevant to regulators and policymakers.

Details

Asian Review of Accounting, vol. 31 no. 2
Type: Research Article
ISSN: 1321-7348

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Article
Publication date: 3 May 2016

Yener Coskun and Hasan Murat Ertugrul

The purpose of this paper is to empirically analyze volatility properties of the house price returns of Turkey and Istanbul, Ankara and Izmir provinces over the period of July…

590

Abstract

Purpose

The purpose of this paper is to empirically analyze volatility properties of the house price returns of Turkey and Istanbul, Ankara and Izmir provinces over the period of July 2007-June 2014.

Design/methodology/approach

The paper uses conditional variance models, namely, ARCH, GARCH and E-GARCH. As the supportive approach for the discussions, we also use correlation analysis and qualitative inputs.

Findings

Empirical findings suggest several points. First, city/country-level house price return volatility series display volatility clustering pattern and therefore volatilities in house price returns are time varying. Second, it seems that there were high (excess) and stable volatility periods during observation term. Third, a significant economic event may change country/city-level volatilities. In this context, the biggest and relatively persistent shock was the lagged negative shocks of global financial crisis. More importantly, short-lived political/economic shocks have not significant impacts on house price return volatilities in Turkey, Istanbul, Ankara and Izmir. Fourth, however, house price return volatilities differ across geographic areas, volatility series may show some co-movement pattern. Fifth, volatility comparison across cities reveal that Izmir shows more excess volatility cases, Ankara recorded the highest volatility point and Istanbul and national series show lower and insignificant volatilities.

Research limitations/implications

The study uses maximum available data and focuses on some house price return volatility patterns. The first implication of the findings is that micro/macro dimensions of house price return volatilities should be carefully analyzed to forecast upside/downside risks of house price returns. Second, defined volatility clustering pattern implies that rate of return of housing investment may show specific patterns in some periods and volatile periods may result in some large losses in the returns. Third, model results generally suggest that however data constraint is a major problem, market participants should analyze regional idiosyncrasies during their decision-making in housing portfolio management. Fourth, because house prices are not sensitive to relatively less structural shocks, housing may represent long-term investment instrument if it provides satisfactory hedging from inflation.

Originality/value

The evidences and implications would be useful for housing market participants aiming to manage/use externalities of housing price movements. From a practical contribution perspective, the study provides a tool that will allow measuring first time of the return volatility patterns of house prices in Turkey and her three biggest provinces. Local level analysis for Istanbul, Ankara and Izmir provinces, as the globally fastest growing cities, would be found specifically interesting by international researchers and practitioner.

Details

Journal of European Real Estate Research, vol. 9 no. 1
Type: Research Article
ISSN: 1753-9269

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