Time-varying dependence in the intraday AUS/USD spot market

Using a high-frequency data set of the spot Australian dollar/US dollar this study examines the distribution of quotes and returns across the 24 hour trading "day". Employing statistical methods for measuring long-tenn dependence in time-series we find evidence of time-varying dependence and volatility that aligns with the opening and closing of markets. This variation is attributed to the effects of liquidity and the price-discovery actions of dealers.

Effect of susceptibility to interfacial fracture on fatigue properties of spot-welded high strength sheet steel

While advanced high strength steels (AHSS) have numerous advantages for the automotive industry, they can be susceptible to interfacial fracture when spot-welded. In this study, the susceptibility of interfacial fracture to spot-weld microstructure and hardness is examined, as well as the corresponding relationships between fatigue, overload performance, and interfacial fracture for a TRIP (transformation induced plasticity) steel. Simple post-weld heat-treatments were used to alter the weld microstructure. The effect on interfacial fracture of diluting the weld pool by welding the TRIP material to non-TRIP steel was examined, along with the effect of altering the base material microstructure. Results show that weld hardness is not a good indicator of either the susceptibility to interfacial fracture, or the strength of the joint, and that interfacial fracture does not necessarily lead to a decrease in strength compared to conventional weld-failure mechanisms, i.e. button pullout. It was also found that while interfacial fracture does affect low cycle to failure behavior, there was no effect on high cycle fatigue.

Modelling of laser beam spot-weld using 2-D hybrid crack finite elements

Laser beam spot-welding is widely applied to join sheet metals for automotive components especially for thinsheet components in automotive industries. The spot welds in such metallic structures contribute a lot to the integrated strength and fatigue life for the whole structures and they are responsible for their damage or collapse in some loading cases. In this paper, the 2-D hybrid special finite elements each containing an edge crack are employed to study the fracture behaviors of laser beam spot-welds. Hence the calculation accuracy in the vicinity of crack tips is ensured, and a better description of stress singularity with only one hybrid element surrounding one crack is provided. The numerical modeling for laser beam spot-welds subjected to three typical modes ofloadings including tension-lap, shear-lap and angle-clip can be greatly simplified with the applications of such elements. Three specimens under lap-shear, lap-tension and angle clip are devised and analyzed respectively, and main fracture parameters such as stress intensity factors and the initial direction of crack growth are obtained through tinite element analyses. The computed results ti'om numerical examples demonstrate the validity and versatility of the proposed modeling.

Fracture analysis of spot-welds with edge cracks using 2-D hybrid special finite element

This paper employed a systematic analysis using a 2-D hybrid special finite element containing an edge crack in order to describe the fracture behavior of spot-welds in automotive structures. The 2-D hybrid special finite element is derived form a mixed formulation with a complex potential function with the description of the singularity of a stress field. The hybrid special finite element containing an edge crack can give a better description of its singularity with only one hybrid element surrounding one crack. The advantage of this special element is that it can greatly simplify the numerical modeling of the spot welds. Some numerical examples demonstrate the validity and versatility of the present analysis method. The lap-shear, lap-tension and angle-clip specimens are analyzed and some useful fracture parameters such as the stress intensity factor and the initial direction of crack growth are obtained simultaneously.

Supporting decision making : the BI sweet spot

In this paper, we propose the concept: the BI Sweet Spot. The BI Sweet Spot ecosystem includes mobile computing, cloud computing and Big Data. We provide an overview for each of the key components and explain how these three components support the BI Sweet Spot. We also discuss best practices for managing these essential components. This study is the first-of-its-kind work in the BI research that considers the inter-relationships and the combined effect of mobile, cloud and Big Data.

Does data frequency matter for the impact of forward premium on spot exchange rate?

In this paper we take the forward premium and exchange rate literature forward by asking whether data frequency matters in that relationship. We use four frequencies of data, namely, quarterly, monthly, weekly and daily. We find that data frequencies matter both statistically and economically. More specifically, we document that investors prefer the forward premium model over a constant returns model in most countries when models are estimated using daily, weekly, and quarterly data, but not when using monthly data.