Volumetric consequences of particle loss by grading entropy.

Chemical and biological processes, such as dissolution in gypsiferous sands and biodegradation in waste refuse, result in mass or particle loss, which in turn lead to changes in solid and void phase volumes and grading. Data on phase volume and grading changes have been obtained from oedometric dissolution tests on sand–salt mixtures. Phase volume changes are defined by a (dissolution-induced) void volume change parameter (Λ). Grading changes are interpreted using grading entropy coordinates, which allow a grading curve to be depicted as a single data point and changes in grading as a vector quantity rather than a family of distribution curves. By combining Λ contours with pre- to post-dissolution grading entropy coordinate paths, an innovative interpretation of the volumetric consequences of particle loss is obtained. Paths associated with small soluble particles, the loss of which triggers relatively little settlement but large increase in void ratio, track parallel to the Λ contours. Paths associated with the loss of larger particles, which can destabilise the sand skeleton, tend to track across the Λ contours.

Variation of modal parameters of pile-supported structures in seismically liquefiable soils.

This paper presents experimental results that aimed to investigate the effects of soil liquefaction on the modal parameters (i.e. frequency and damping ratio) of pile-supported structures. The tests were carried out using the shaking table facility of the Bristol Laboratory for Advanced Dynamics Engineering (BLADE) at the University of Bristol (UK) whereby four pile-supported structures (two single piles and two pile groups) with and without superstructure mass were tested. The experimental investigation aimed to monitor the variation in natural frequency and damping of the four physical models at different degrees of excess pore water pressure generation and in full-liquefaction condition. The experimental results showed that the natural frequency of pile-supported structures may decrease considerably owing to the loss of lateral support offered by the soil to the pile. On the other hand, the damping ratio of structure may increase to values in excess of 20%. These findings have important design consequences: (a) for low-period structures, substantial reduction of spectral acceleration is expected; (b) during and after liquefaction, the response of the system may be dictated by the interactions of multiple loadings, that is, horizontal, axial and overturning moment, which were negligible prior to liquefaction; and (c) with the onset of liquefaction due to increased flexibility of pile-supported structure, larger spectral displacement may be expected, which in turn may enhance Pdelta effects and consequently amplification of overturning moment. Practical implications for pile design are discussed.

Islamic corporate financing : does it promote profit and loss sharing?

Islamic financing instruments can be categorised into profit and loss/risk sharing and non-participatory instruments. Although profit and loss sharing instruments such as musharakah are widely accepted as the ideal form of Islamic financing, prior studies suggest that alternative instruments such as murabahah are preferred by Islamic banks. Nevertheless, prior studies did not explore factors that influence the use of Islamic financing among non-financial firms. Our study fills this gap and contributes new knowledge in several ways. First, we find no evidence of widespread use of Islamic financing instruments across non-financial firms. This is because the instruments are mostly used by less profitable firms with higher leverage (i.e., risky firms). Second, we find that profit and loss sharing instruments are hardly used, whilst the use of murabahah is dominant. Consistent with the prediction of moral-hazard-risk avoidance theory, further analysis suggests that users with a lower asset base (to serve as collateral) are associated with murabahah financing. Third, we present a critical discourse on the contentious nature of murabahah as practised. The economic significance and ethical issues associated with murabahah as practised should trigger serious efforts to steer Islamic corporate financing towards risk-sharing more than the controversial rent-seeking practice.