Performance of square and inclined insulated rail joints based on field strain measurements

Insulated rail joints (IRJs) possess lower bending stiffness across the gap containing insulating endpost and hence are subjected to wheel impact. IRJs are either square cut or inclined cut to the longitudinal axis of the rails in a vertical plane. It is generally claimed that the inclined cut IRJs outperformed the square cut IRJs; however, there is a paucity of literature with regard to the relative structural merits of these two designs. This article presents comparative studies of the structural response of these two IRJs to the passage of wheels based on continuously acquired field data from joints strain-gauged closer to the source of impact. Strain signatures are presented in time, frequency, and avelet domains and the peak vertical and shear strains are systematically employed to examine the relative structural merits of the two IRJs subjected to similar real-life loading. It is shown that the inclined IRJs resist the wheel load with higher peak shear strains and lower peak vertical strains than that of the square IRJs.

The impact of the Malaysian code on corporate governance: compliance, institutional investors and stock performance

In 2001, the Malaysian Code on Corporate Governance (MCCG) became an integral part of the Bursa Malaysia Listing Rules, which requires all listed firms to disclose the extent of compliance with the MCCG. Our panel analysis of 440 firms from 1999 to 2002 finds that corporate governance reform in Malaysia has been successful, with a significant improvement in governance practices. The relationship between ownership by the Employees Provident Fund (EPF) and corporate governance has strengthened during the period subsequent to the reform, in line with the lead role taken by the EPF in establishing the Minority Shareholders Watchdog Group. The implementation of MCCG has had a substantial effect on shareholders' wealth, increasing stock prices by an average of about 4.8%. Although there is no evidence that politically connected firms perform better, political connections do have a significantly negative effect on corporate governance, which is mitigated by institutional ownership.

Good faith in contractual performance and enforcement : Australian doctrinal hurdles

In the ongoing and spirited debate about the relative merits of an obligation of good faith in contractual performance and enforcement, widely divergent views have been expressed about the appropriateness and content of the putative obligation. However, relatively less time has been devoted to discussion of the sparseness of tools available to facilitate doctrinal development and the hurdles necessarily imposed by such limited doctrinal resources. This article seeks to examine the Australian doctrinal position against the backdrop of good faith as it finds application in the wider global context.