scholarly journals Transportation Infrastructure Project Financing; Highways Capital Structure Design Techniques

2021 ◽  
Vol 2021 ◽  
pp. 1-8
Author(s):  
Hanieh Soleymani ◽  
Mehdi Ravanshadnia ◽  
Mehdi Montazer
Keyword(s):  
Capital Structure ◽  
Private Equity ◽  
Stopping Time ◽  
Structure Optimization ◽  
Optimization Methods ◽  
Structure Design ◽  
Traditional Model ◽  
Steady Growth ◽  
The Status ◽  
Infrastructure Project

Whether a private bidder can win a concession depends largely on advanced financial engineering techniques, numerous methods were developed. Meeting large infrastructure needs including its proper maintenance and operation is and will remain a major challenge for the all-around the in the coming years requiring targeted innovative financing mechanisms. Even though it is recognized that there are three types of financial instruments, equity, mezzanine finance and debt in funding an infrastructure project, the status quo is that previous capital optimization methods did not consider mezzanine finance or simply categorized it into debt-like or equity-like instruments. The global infrastructure sector is witnessing a steady growth of private equity investment in mezzanine instruments. The frequent usage of the contingent claim embedded in mezzanine financing makes the traditional model for capital structure optimization invalid. This study presents a more advanced method to optimize capital structure in infrastructure financing. This easily implemented method is based on a two-stage procedure: I) identification of optimal stopping time for convertible securities, and II) capital structure optimization by a conventional model. The quantitative optimization model can be easily generalized. The global infrastructure sector is witnessing the continued growth of a private equity fund of mezzanine tools. Repeated use of potential claims embedded in mezzanine financing has invalidated the traditional model for optimizing capital structure.

An improved lattice structure design optimization framework considering additive manufacturing constraints

2017 ◽  
Vol 23 (2) ◽  
pp. 305-319 ◽  
Author(s):  
Recep M. Gorguluarslan ◽  
Umesh N. Gandhi ◽  
Yuyang Song ◽  
Seung-Kyum Choi
Keyword(s):  
Additive Manufacturing ◽  
Lattice Structure ◽  
Structure Optimization ◽  
Optimization Methods ◽  
Structure Design ◽  
Second Phase ◽  
Manufacturing Constraints ◽  
Ground Structure ◽  
Content Type ◽  
Optimization Framework

Purpose Methods to optimize lattice structure design, such as ground structure optimization, have been shown to be useful when generating efficient design concepts with complex truss-like cellular structures. Unfortunately, designs suggested by lattice structure optimization methods are often infeasible because the obtained cross-sectional parameter values cannot be fabricated by additive manufacturing (AM) processes, and it is often very difficult to transform a design proposal into one that can be additively designed. This paper aims to propose an improved, two-phase lattice structure optimization framework that considers manufacturing constraints for the AM process. Design/methodology/approach The proposed framework uses a conventional ground structure optimization method in the first phase. In the second phase, the results from the ground structure optimization are modified according to the pre-determined manufacturing constraints using a second optimization procedure. To decrease the computational cost of the optimization process, an efficient gradient-based optimization algorithm, namely, the method of feasible directions (MFDs), is integrated into this framework. The developed framework is applied to three different design examples. The efficacy of the framework is compared to that of existing lattice structure optimization methods. Findings The proposed optimization framework provided designs more efficiently and with better performance than the existing optimization methods. Practical implications The proposed framework can be used effectively for optimizing complex lattice-based structures. Originality/value An improved optimization framework that efficiently considers the AM constraints was reported for the design of lattice-based structures.

scholarly journals Sensible or Outdated? Gender and Opinions of Tenure Criteria in Canada

2019 ◽  
Vol 49 (2) ◽  
pp. 1-16 ◽  
Author(s):  
Jennifer Dengate ◽  
Annemieke Farenhorst ◽  
Tracey Peter
Keyword(s):  
Academic Success ◽  
Gender Bias ◽  
Traditional Model ◽  
Gender Similarities ◽  
Research Scholarship ◽  
The Status ◽  
Allocation Of Time ◽  
Definition Of Success ◽  
Definition Of ◽  
The University

The university reward structure has traditionally placed greater value on individual research excellence for tenure and promotion, influencing faculty’s allocation of time and definition of worthwhile labour. We find gender differences in Canadian natural sciences and engineering faculty’s opinions of the traditional criteria for measuring academic success that are consistent with an implicit gender bias devaluing service and teamwork. Most women recommend significant changes to the traditional model and its foundation, while a substantial minority of men support the status quo. However, this comparative qualitative analysis finds more cross-gender similarities than differences, as most men also want a more modern definition of success, perceiving the traditional model to be disproportionately supportive of one type of narrow research scholarship that does not align with the realities of most faculty’s efforts. Thus, this study suggests a discrepancy between traditional success criteria and faculty’s understanding of worthwhile labour.

scholarly journals The Announcement Effect of Open-Market Share Buybacks: The Case for European Firms

2018 ◽  
Vol 10 (8) ◽  
pp. 117
Author(s):  
Jyoti Gupta ◽  
Florian Wagner
Keyword(s):  
Capital Structure ◽  
Abnormal Return ◽  
Market Timing ◽  
Structure Optimization ◽  
Share Price ◽  
Open Market ◽  
Timing Ability ◽  
Announcement Returns ◽  
Positive Abnormal Return ◽  
Book Values

Using a comprehensive sample of 1830 open-market repurchases of 15 European countries encompassing the period from 1998 until 2013, we analyzed the magnitude and determinants of the share price reaction on announcement. Our results indicate that buyback announcements in Europe lead on average to a significantly positive abnormal return of 0.92% on announcement day, however, decreasing in firm size and announcement frequency. Additionally, our findings show that the market does not particularly greet the distribution of excess cash to shareholders, but rather when companies take advantage of undervalued stock as market-to-book values are inversely related to announcement returns. Looking at the companies’ leverage ratios, the motive of capital structure optimization cannot be supported by the empirical findings. Lastly, with respect to managerial market timing ability we could not observe that buybacks are following a period of share price underperformance, concluding that managers are not able to time the implementation of buyback programs.

The Structure Optimization of Aluminum Alloy Automotive Wheels

2013 ◽  
Vol 753-755 ◽  
pp. 1175-1179
Author(s):  
Bao An Yang ◽  
Xu Hui Li ◽  
Fei Yang ◽  
Zi Ru Niu ◽  
Zhi Hong Wang
Keyword(s):  
Aluminum Alloy ◽  
Fatigue Test ◽  
Optimization Design ◽  
Structure Optimization ◽  
Scientific Basis ◽  
Structure Design ◽  
Bending Fatigue ◽  
Structure Characteristics ◽  
Bending Fatigue Test

The aluminum alloy automotive wheels are widely used and their quality safety is vital. So their structure design should be optimized. Based on the wheel bending fatigue test and the analysis of aluminum alloy automotive wheel's structure characteristics, the wheel's load was discussed and the analysis of the wheel was done by using Solidworks and ANSYS. The analysis result provides scientific basis for the optimization design of the aluminum alloy automotive wheels.

Research productivity in neurosurgery: trends in globalization, scientific focus, and funding

2011 ◽  
Vol 115 (6) ◽  
pp. 1262-1272 ◽  
Author(s):  
Jason S. Hauptman ◽  
Daniel S. Chow ◽  
Neil A. Martin ◽  
Michael W. Itagaki
Keyword(s):  
Case Reports ◽  
Bibliometric Study ◽  
Funding Sources ◽  
Relative Contribution ◽  
Steady Growth ◽  
Review Articles ◽  
The Us ◽  
The Status ◽  
Relative Decline ◽  
Nih Funding

Object While research is important for the survival, growth, and expansion of neurosurgery, little work has been done to quantify the status and trends of neurosurgical publications. The purpose of this bibliometric study was to quantitatively analyze trends in neurosurgical publications, including changes in worldwide productivity, study methodology, subspecialty topic, and funding. Methods This was a retrospective bibliometric study using MEDLINE to record all publications between 1996 and 2009 by first authors affiliated with neurosurgical departments. Country of origin, MEDLINE-defined methodology, study topic, and funding sources (for US articles) were recorded. Linear regression was used to derive growth rates. Results Total articles numbered 53,425 during the study period, with leading global contributors including the US with 16,943 articles (31.7%) and Japan with 10,802 articles (20.2%). Countries demonstrating rapid growth in productivity included China (121.9 ± 9.98%/year, p < 0.001), South Korea (50.5 ± 4.7%/year, p < 0.001), India (19.4 ± 1.8%/year, p < 0.001), and Turkey (25.3 ± 2.8%/year, p < 0.001). While general research articles, case reports, and review articles have shown steady growth since 1996, clinical trials and randomized controlled trials have declined to 2004 levels. The greatest overall subspecialty growth was seen in spine surgery. Regarding funding, relative contribution of National Institutes of Health (NIH)–funded publications decreased from 30.2% (290 of 959) to 22.5% (356 of 1229) between 1996 and 2009. Conclusions Neurosurgical publications demonstrate continued increases in productivity as well as in global expansion, although US contributions remain dominant. Two challenges that the neurosurgical community is facing include the preponderance of case reports and review articles and the relative decline in NIH funding for US neurosurgical publications, as productivity has outpaced government financial support.

A Research on the Stresses Distributed over Pipe Insulating Joints

2013 ◽  
Vol 753-755 ◽  
pp. 1530-1533
Author(s):  
Kang Yong ◽  
Nai Qin Chen
Keyword(s):  
3D Modeling ◽  
Computer Software ◽  
Structure Optimization ◽  
Mechanical Analysis ◽  
Structure Design ◽  
Analysis Software ◽  
Element Analysis ◽  
Joint Structure ◽  
Design Structure ◽  
Main Factors

By using CAD 3D modeling and structural statics of finite element analysis software ANSYS, the stress distribution of the insulating joint under different loads is obtained. The main factors are suggested, which influence the effects of the insulating joint, being base on the mechanical analysis of using computer software, and the ranges of concentrated stress are pointed out. These studies will help the insulating joint structure design, structure optimization and better applications.

scholarly journals Analysis of Pre-existing Investment Behavior and Influence of Trading Apps

2021 ◽  
Vol 10 (4) ◽  
Author(s):  
Anish Guddati ◽  
Dhruva Bhat
Keyword(s):  
Private Equity ◽  
Industrial Revolution ◽  
Status Quo ◽  
Investment Behavior ◽  
Stock Trading ◽  
Behavioral Biases ◽  
Wharton School ◽  
The Us ◽  
Retail Investors ◽  
The Status

The last few years have seen a rise in trading apps, and Robinhood is one trading app that has attracted millennials. This paper explores trading apps such as Robinhood and their role in providing financial inclusion and safe trading opportunities. This paper discusses investment behavior in the status quo, explaining overconfidence, sociability, and the disposition effect. Investment behavior can include the behavioral biases and common notions investors utilize for trading. Furthermore, this paper assesses the design and business model of Robinhood. Five expert investors were interviewed (such as a professor and other MBA graduates from Wharton School of Business, financial experts from private equity firms in the US and Mexico, and a JP Morgan investment banking professional), and five casual investors were interviewed to understand their opinions on investment behavior, certain trading apps, common criticisms of stock trading, and solutions to these concerns. The findings led to the conclusion that investment behavior is harmful in the status quo. Results did indicate that Robinhood does promote at least some dangerous behavior through excessive active trading and is one example of a problematic trading app through the 4th Industrial Revolution, but trading apps can only amplify behavioral biases most retail investors already display.

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