Structural Behaviour and Fire Design of Duplex and Ferritic Stainless Steel CHS Stub Columns

Asif Mohammed,Katherine A. Cashell 한국강구조학회 2021 International Journal of Steel Structures Vol.21 No.4

This paper investigates the structural behaviour and design of duplex and ferritic stainless steel stub columns with a circular hollow cross-section (CHS) at elevated temperature. A numerical model is developed to supplement the limited test results on stainless steel CHS stub columns in the literature. Following validation, the numerical approach is employed to gain an understanding of the critical behavioural characteristics which have not previously been studied. In addition, the paper considers and extends the continuous strength method (CSM) to include duplex and ferritic stainless steel for CHS stub columns in fire. The CSM employs a base curve linking the cross-section resistance to its deformation capacity and implements an elastic, linear hardening material model. The cross-sectional resistances obtained from the proposed CSM are compared with those from the numerical analysis, as well as with the standardised procedures in the European, American and Australia/New Zealand design standards. It is demonstrated that CSM can lead to more accurate and less scattered strength predictions than current design codes.

Measuring the Financial Health of U.S. Bankruptcy Filers: An Application of Financial Epidemiology

Donald D Hackney,Peter Cashel Cordo,Dan Friesner,Matthew Q McPherson People&Global Business Association 2013 Global Business and Finance Review Vol.18 No.1

The recent economic recession has impacted the finances of many U.S. households. A portion of these households eventually become insolvent and are forced to file for bankruptcy protection. Given the potentially large re-distribution of wealth that occurs in the bankruptcy process, it is important to understand the factors that lead to bankruptcy in order to mitigate unintended consequences. To do so, one must first identify a simple but comprehensive measure of a household's financial distress, or put differently, its "financial health". This paper postulates that a household's financial health can be measured using the concept of a casemix index; a metric currently used to assess the "sickness" (or the average severity of illnesses) of patient loads treated by hospitals. As an empirical illustration, we apply this casemix to a random sample of bankruptcy filers in Eastern Washington in 2007 and 2009 and assess whether specific types of bankruptcy filers have lower or higher levels of financial health. We find that financial health varies systematically by the county of residence. However, there are no significance differences in financial health based on the chapter of the U.S. Bankruptcy code under which the bankruptcy is filed.

Corporate Leverage Strategy in an Emerging Market

Byung S. Min,Peter Cashel-Cordo,Jong C. Rhim People&Global Business Association 2015 Global Business and Finance Review Vol.20 No.2

This study empirically investigates whether the introduction of a new corporate governance system in the Korean economy (where controlling shareholders dominate business groups and corporate-bank relationships are prominent) affects corporate leverage strategies. We find evidence suggesting that improved corporate governance, measured by appointments of outside directors and controlling shareholder’s ownership, constrains corporate borrowing. Chaebol firms, on average, have higher levels of borrowing than stand-alone firms. However, the largest chaebols, who are heavily involved in multinational ventures, showed the opposite trend, ostensibly due to more diversified business opportunities and sources of financing available in international markets. This suggests that government policies designed to improved corporate governance among “average” chaebols may be ineffective (or only partially effective), because such policies do not account the heterogeneity that exists across chaebols. Lastly, we find that intragroup transactions among affiliates increase corporate borrowing, but they are not consistently related to chaebol borrowing as a whole.

IS EXPORT-LED INDUSTRIAL DEVELOPMENT A VIABLE POLICY? SOME EMPIRICAL EVIDENCE

Sudesh Mujumdar,Jeffrey A Mills,Peter Cashel Cordo People&Global Business Association 2005 Global Business and Finance Review Vol.10 No.1

This paper re-examines the time-series evidence on the relationship between exports and industrial development for eight newly-industrialized economies in light of recent breakthroughs in time-series analysis. Specifically, the investigation employs the time-series procedure of Toda and Yamamoto (1995) where many shortcomings of the traditional approaches (e.g., the Vector-Error-Correction approach) are overcome. The investigation reveals that for all but one of the economies where a policy of export-led growth was explicitly adopted, there is evidence indicating that current increases in exports produce future increases in industrial output. Such evidence is not found for the economies where the policy was not explicitly adopted. This suggests that for a country without an explicit strategy of export-expansion, it appears unlikely that export-expansion will spontaneously stimulate industrial development.

The Effectiveness of a Predictor-corrector Technique in European Currency Option Valuation

Sangwoo Heo,Jinsuk Yang,SeungCheol Lim,Peter Cashel-Cordo 사람과세계경영학회 2019 Global Business and Finance Review Vol.24 No.4

In this work, we adopt a predictor-corrector technique to examine the accuracy of the Fractional Black-Scholes (FBS) model. Compared to the standard Black-Scholes (B-S) model, FBS model involves one additional parameter, a Hurst value (H) providing information whether the time series exhibits persistent or anti-persistent behavior. The FBS model, as a result, has been shown to provide more accurate predictions of option price [Heo et al. (2017) and reference therein]. Estimation accuracy of volatility and H values are key to better option price estimates. However, volatility and Hurst values are unknown prior to the closing time; consequently, the estimation of option prices relies heavily on the accuracy of volatilities and Hurst parameter estimation. In this study we compare option price estimation accuracy using three variations of calculating H values, and two volatility measures. We estimate two H values using historic data using one-month data (21 trading days) and three-month data (63 trading days), respectively, and by using predicted volatility estimates obtained using a binomial method, as a predictor and then used them to estimate implied H values. We subsequently correct the predicted volatility measure using the implied H value, the predictor-corrector technique. We investigate the accuracy of these FBS models and examine effectiveness of this predictor-corrector technique using Euro currency option (XDE) data traded in NASDAQ from November 2007 to June 2016.

The influence of different factors on buildings’ height in the absence of shear walls in low seismic regions

Reza Keihani,Ali Bahadori-Jahromi,Charles Goodchild,Katherine A. Cashell 국제구조공학회 2020 Structural Engineering and Mechanics, An Int'l Jou Vol.76 No.1

Shear walls are structural members in buildings that are used extensively in reinforced concrete frame buildings, and almost exclusively in the UK, regardless of whether or not they are actually required. In recent years, the UK construction industry, led by the Concrete Centre, has questioned the need for such structural elements in low to mid-rise reinforced concrete frame buildings. In this context, a typical modern, 5-storey residential building is studied, and its existing shear walls are replaced with columns as used elsewhere in the building. The aim is to investigate the impact of several design variables, including concrete grade, column size, column shape and slab thickness, on the building’s structural performance, considering two punching shear limits (VEd/VRd,c), lateral drift and accelerations, to evaluate its maximum possible height under wind actions without the inclusion of shear walls. To facilitate this study, a numerical model has been developed using the ETABS software. The results demonstrate that the building examined does not require shear walls in the design and has no lateral displacement or acceleration issues. In fact, with further analysis, it is shown that a similar building could be constructed up to 13 and 16 storeys high for 2 and 2.5 punching shear ratios (VEd/VRd,c), respectively, with adequate serviceability and strength, without the need for shear walls, albeit with thicker columns.

Shrinkage Crack Detection in Expansive Soil using Deep Convolutional Neural Network and Transfer Learning

A. Diana Andrushia,T. Mary Neebha,S. Umadevi,N. Anand,Katherine A. Cashell 대한토목학회 2022 KSCE JOURNAL OF CIVIL ENGINEERING Vol.26 No.10

The formation of shrinkage cracks is a natural phenomenon in expansive soils. The development of these cracks affects both the physical and mechanical properties of the soil. This paper proposes new procedures for predicting and detecting the formation of crack patterns in expansive soils, based on customized Convolution Neural Network (CNN) and transfer learning. A total of four different deep learning models are developed to detect the soil crack pattern by changing the convolution layers and hyper-parameters in the analysis. The novelty of the proposed detection methods lies in the use of customized CNN models in shrinkage crack detection for expansive soils. The customized CNN models are constructed by varying the number of convolution layers and the hyperparameters. The results show that the proposed CNN models provide very accurate results and are capable of detecting the presence of cracks in the soil with great accuracy. The best results are from one of the customized CNN models namely the Customized CNN Model 2 which consists of five convolution layers, three activation layers, one pooling layer, two fully connected layers, and a softmax layer. The results from this model are compared with other well-known approaches from the literature and are shown to provide improved results. Overall, the proposed deep learning methods developed in this paper produce excellent results in terms of the accurate detection of shrinkage soil cracks and can also be applied to other types of soil cracks.