Multiscale modelling of stress and strain partitioning in high strength dual phase steels

Multiscale modelling of stress and strain partitioning in DP steel was carried out using both realistic microstructure-based RVE models as well as stochastic microstructures generated by Monte Carlo method. The stochastic microstructure models were shown to resemble that of realistic microstructures, enabling research on the specific aspects of the microstructure that could be difficult to control and study during experimental work. One such feature of the realistic microstructures studied in this work was the grain size and microstructure morphology. The microstructures were generated with varying average grain sizes while all other parameters, such as boundary conditions, material properties and volume fractions of martensite and ferrite were kept constant. It is found that the effect of grain size is much more pronounced during the initial localisation of the plastic deformation at and around the interface of the phases. In addition, the decrease in ductility and increase in strength of the DP steels are directly related to the refinement of grain sizes of each phase and the stress-strain partitioning in between them.

A study on mechanical behavior of functionally-graded carbon nanotube-reinforced nanocomposites

In this study, we are focusing on the investigation of the effects of gradient patterns on mechanical behavior of functionally-graded carbon nanotube-reinforced nanocomposites and considering typical beams made of such nanocomposites. Both analytic and finite element-based numerical models were developed. Analytic model was developed based on the first-order shear deformation and Timoshenko beam theories meanwhile finite element models were developed using Abaqus in conjunction with user-defined subroutines for defining the continuously gradient material properties for different gradient patterns. Position-dependent elastic modulus equations for four continuously graded patterns were studied. A nongraded pattern was used for benchmarking with the same geometry and total carbon nanotube (CNT) contents. For validation and verification, the results on both deflection and stress of these nanocomposite beams were analyzed, which clearly showed high influence from gradient patterns on these mechanical behaviors of such beams.

Disproportional ownership structure and pay–performance relationship: evidence from China’s listed firms

This paper examines the impact of ownership structure on executive compensation in China's listed firms. We find that the cash flow rights of ultimate controlling shareholders have a positive effect on the pay–performance relationship, while a divergence between control rights and cash flow rights has a significantly negative effect on the pay–performance relationship. We divide our sample based on ultimate controlling shareholders' type into state owned enterprises (SOE), state assets management bureaus (SAMB), and privately controlled firms. We find that in SOE controlled firms cash flow rights have a significant impact on accounting based pay–performance relationship. In privately controlled firms, cash flow rights affect the market based pay–performance relationship. In SAMB controlled firms, CEO pay bears no relationship with either accounting or market based performance. The evidence suggests that CEO pay is inefficient in firms where the state is the controlling shareholder because it is insensitive to market based performance but consistent with the efforts of controlling shareholders to maximize their private benefit.

Sustainable population health : a pressing priority for community wellbeing

Recent developments in primary health care, preventive care, early intervention programs, population health constructs and coordinated care trials in Australia have explored the idea of changing our emphasis in health care from responsive acute care to more integrated, whole population community wellbeing management. This idea accepts that much illness and even trauma experienced by individuals in our communities can be prevented, mitigated or managed in a more constructive and positive manner than has previously been the case. Much disabling illness need not occur at all and can be avoided through better community based management models, education programs, and lifestyle changes that contribute to more healthy communities. As in the wider business world, we are becoming more cognisant of the fact that prevention is not only an appealing idea in terms of health outcomes and quality of life, but that it is good for business also. It can moderate demand for costly health care, assist consumers to understand how to live healthier and fulfilling lives and overall help to sustain a much more dynamic community. This article, based on work in a rural health service in South Australia, points to some elements of sustainable primary care that appear to have potential to take us where we need to go. It asks whether we have the capacity and the will to make the necessary investment in sustainability to ensure our future or whether we are to remain bound in a reactionary model of health care rather than considering the impact of wider social and physical environments as part of the overall community health equation.

Lung cancer prediction from microarray data by gene expression programming

Lung cancer is a leading cause of cancer-related death worldwide. The early diagnosis of cancer has demonstrated to be greatly helpful for curing the disease effectively. Microarray technology provides a promising approach of exploiting gene profiles for cancer diagnosis. In this study, the authors propose a gene expression programming (GEP)-based model to predict lung cancer from microarray data. The authors use two gene selection methods to extract the significant lung cancer related genes, and accordingly propose different GEP-based prediction models. Prediction performance evaluations and comparisons between the authors' GEP models and three representative machine learning methods, support vector machine, multi-layer perceptron and radial basis function neural network, were conducted thoroughly on real microarray lung cancer datasets. Reliability was assessed by the cross-data set validation. The experimental results show that the GEP model using fewer feature genes outperformed other models in terms of accuracy, sensitivity, specificity and area under the receiver operating characteristic curve. It is concluded that GEP model is a better solution to lung cancer prediction problems.

Empirical evidence from the corporate collapse literature suggesting re-examination of accounting standards in relation to valuation of assets

This paper examines the recent spectacular corporate collapses of Parmalat in Europe, Enron and WorldCom in the USA and HIH in Australia and argues for a re-examination of corporate governance regulations, particularly in relation to accounting standards regarding the valuation of assets. The recommendation that is put forward in this regard is based upon empirical evidence arising from further examination of the empirical results in (Hossari and Rahman, 2004). Specifically, the recommendation is based upon the realization that, among the 48 financial ratios across the 50-plus refereed studies, five financial ratios, all of which contained assets as one of the variables, were a relatively robust indicator of corporate collapse. The five ratios are: Net Income/Total Assets, Current Assets/Current Liabilities, Total Liabilities/Total Assets, Working Capital/Total Assets, and Earnings Before Interest and Taxes/Total Assets. This paper suggests that it's not the failure of the corporate collapse prediction models, rather it's the erosion of the reliability of some key input data, namely assets and the valuation thereof, that is largely responsible for the apparent failure of these models in capturing impending collapses, such as those that we witnessed in the recent past. Such empirical findings support the argument that assets are soft targets for misrepresentation, because of the leeway granted in accounting standards with regards to their valuation.

Valuation and reporting of native fauna in monetary terms: compatibility between a market-Based system and natural resources?

A change in community values and priorities has introduced ethical,
environmental and social issues into the way in which business conducts
its activities. There are an increasing number of managed investment funds focusing on socially responsible investment (SRI) by concentrating on firms that operate according to predetermined criteria for environmental, social and ethical issues. For investors in these funds environmental stewardship issues are integrated with concern over financial resources and performance. In this paper the accounting and reporting by business activities concerned with conservation of wildlife are examined. The world of accounting has functioned for many years with relatively few accounting standards devoted to specialised industry needs. In 1998 the Australian Accounting Standards Board and in 2001 the International Accounting Standards Board issued standards devoted to agriculture. Both standards deal with the reporting of managed biological assets and require application of essentially the same approaches despite the Australian standard requiring net market value while the International standard requires fair value. In this paper we analyse how one conservation firm Earth Sanctuaries Ltd. (ESL) has applied AASB 1037 and then we explore the implications for conservation firms operating in geographical locations outside Australia. It is suggested that AASB 1037 and indeed lAS 41 may not provide value appropriate information for investor decisions relating to accounting profits for such firms. Our examination shows that it is appropriate to reconsider accounting guidelines provided by these standards in order to link the information relating to economic and environmental performance. Transparency may be improved by a move closer to Elkington 's (1997) triple bottom line reporting. We therefore contend that the issues arising from the use ofAASB 1037 and lAS 41 need to be widely considered by all standard setters, particularly given the increasing attention to SRI.

Implications of the IFRS goodwill accounting treatment

Purpose – This paper aims to critically examine the change in accounting treatment for goodwill pursuant to international financial reporting standards (IFRSs) by reference to the Australian reporting regime.

Design/methodology/approach – The paper discusses and compares the former Australian and the new IFRS treatments for goodwill. This comparison focuses on the advantages and potential complexities of the new method, with the aim of identifying the issues and challenges that preparers, independent auditors and those involved in corporate governance face in complying with the new requirements.

Findings – The paper highlights that the identification and valuation of cash-generating units and goodwill require numerous assumptions to be made in estimating fair value, value in use and recoverable amount. Considerable ambiguity and subjectivity are inherent in the IFRS requirements.

Research limitations/implications – Findings suggest that future research should examine how financial report preparers and corporate governance mechanisms are dealing with the complex change required by the new goodwill accounting treatment and how the many critical issues involved in auditing the resulting figures are being addressed.

Practical implications – The research has practical implications for financial report preparers in identifying the issues that must be addressed in complying with the international goodwill accounting treatment. In turn, the paper highlights conceptual issues of relevance to auditors in their role of providing assurance on the resulting accounting numbers. It also has implications for others involved in corporate governance, such as audit committee members, in emphasising the areas in which they should be providing oversight of the accounting judgments. These issues are of relevance in any reporting regime based on IFRSs.

Originality/value – While much has been written about the mechanics of the new goodwill accounting requirements, there has been a lack of critical research highlighting the many problems and ambiguities that will arise in the application of those rules.

Evaluation of the robustness of predictive yield models based on catchment characteristics using GIS for reservoir fisheries in Sri Lanka

Land-use patterns in the catchment areas of Sri Lankan reservoirs, which were quantified using Geographical Information Systems (GIS), were used to develop quantitative models for yield prediction. The validity of these models was evaluated through the application to five reservoirs that were not used in the development of the models, and by comparing with the actual fish yield data of these reservoirs collected by an independent body. The robustness of the predictive models developed was tested by principal component analysis (PCA) on limnological characteristics, land-use patterns of the catchments and fish yields. The predicted fish yields in five Sri Lankan reservoirs, using the empirical models based on the ratios of forest cover and/or shrub cover to reservoir capacity or reservoir area were in close agreement with the observed fish yields. The scores of PCA ordination of productivity-related limnological parameters and those of land-use patterns were linearly related to fish yields. The relationship between the PCA scores of limnological characteristics and land-use types had the appropriate algebraic form, which substantiates the influence of the limnological factors and land-use types on reservoir fish yields. It is suggested that the relatively high predictive power of the models developed on the basis of GIS methodologies can be used for more accurate assessment of reservoir fisheries. The study supports the importance and the need for an integrated management strategy for the whole watershed to enhance fish yields.

Laboratory and non-laboratory-based risk prevention models for secondary prevention of cardiovascular disease : the LIPID study

Aims : The aims of this study were to examine whether risk prediction models for recurrent cardiovascular disease (CVD) events have prognostic value, and to particularly examine the performance of those models based on non-laboratory data. We also aimed to construct a risk chart based on the risk factors that showed the strongest relationship with CVD.

Methods and results : Cox proportional hazards models were used to calculate a risk score for each recurrent event in a CVD patient who was enrolled in a very large randomized controlled clinical trial. Patients were then classified into groups according to quintiles of their risk score. These risk models were validated by calibration and discrimination analyses based on data from patients recruited in New Zealand for the same study. Non-laboratory-based risk factors, such as age, sex, body mass index, smoking status, angina grade, history of myocardial infarction, revascularization, stroke, diabetes or hypertension and treatment with pravastatin, were found to be significantly associated with the risk of developing a recurrent CVD event. Patients who were classified into the medium and high-risk groups had two-fold and four-fold the risk of developing a CVD event compared with those in the low-risk group, respectively. The risk prediction models also fitted New Zealand data well after recalibration.

Conclusion : A simpler non-laboratory-based risk prediction model performed equally as well as the more comprehensive laboratory-based risk prediction models. The risk chart based on the further simplified Score Model may provide a useful tool for clinical cardiologists to assess an individual patient's risk for recurrent CVD events.

Innovation in accounting education

An exploration of a distinctive inter-disciplinary, problem-based, team-based and student centred learning environment: the Inter-disciplinary Industrial Project. Goal-free evaluation shows the IDIP successfully prepares students for the workplace. Case study narratives and outcome oriented conceptual models elaborate a Grounded Theory of Team-based Problem Solving.

Trade and industrial policy in developing countries : what scope for interfaces between agent-based models and computable-general equilibrium models

How best to assess trade and industrial policy in developing countries is a controversial question that unlocks a host of modelling complexities. Large computable general-equilibrium (CGE) models dominate many economic policy debates, but recent developments in the field have demonstrated that it is by no means clear that they give reliable results to questions of how trade reforms affect the poor. Over the last decade or so, a new approach to modelling complex systems has emerged using agent-based models (ABMs). This paper explores the question of whether ABMs are useful for economic policy-makers seeking to quantitatively model the effects of trade and industrial policies and whether constructive interfaces could be developed between CGE models and ABMs. The paper argues that in developing economic policy, ABMs can and should be used in conjunction with CGE models and that there is much to be gained from a greater understanding of the strengths and weaknesses of different modelling approaches, and what domains are most appropriate for their use. It concludes with some reflections on the reasons for the success of CGE approaches and ways in which ABMs could be made more widely understood and used among economists.

Developing an ethics education framework for accounting

The purpose of this paper is to propose a framework of ethics education that promotes the structured learning of ethics in the accounting discipline. The Ethics Education Framework (EEF) is based on three key inter-related components that include: Rest’s (1986) Four-Component Model of ethical decision-making and behaviour; the key cognitive and behavioural objectives of ethics education; and the discrete and pervasive approaches to delivering content. The EEF provides university students and professional accountants a structure to learn to identify, analyse and resolve ethical issues, to the point of action. The EEF is a four-stage learning continuum represented as a set of building blocks which introduces ethical concepts and then reinforces and develops new levels of understanding with progressive stages. This paper describes the EEF, and includes a discussion of how it compares with other ethics education models, and an analysis of the support through responses by professional organisations (based on an Exposure Draft issued by the International Federation of Accountants (IFAC), as the initial International Education Practice Statement). The IFAC has now revised its International Education Standard (IES 4) in relation to ethics, with a commentary period till July 2011.