Ball Response and Traction of Skinned Infields Amended with Calcine Clay at Varying Soil Moisture Contents

The skinned portions of baseball and softball infields vary widely with respect to soil texture, applied amendments and conditioners, and water management. No studies have been reported that quantify the effects of these varying construction and maintenance practices on the playability of the skinned portions of infields. In Connecticut, USA, skinned infield plots were constructed from five different soils (silt loam, loam, coarse sandy loam, loamy sand, loamy coarse sand) and amended with four rates of calcined clay (0, 4.9, 9.8, 19.6 kg m–2) to determine the effects on surface hardness, traction, and ball-to-surface friction (static and dynamic) at varying soil moisture contents (10, 14, and 18%). Bulk density, saturated hydraulic conductivity, and shear strength of the different soil–calcined clay rate combinations were determined. Increasing the rate of calcined clay decreased bulk density and shear strengths, and increased saturated hydraulic conductivity. Surface hardness increased more with coarse-textured soils and increasing calcined clay rate, but decreased more with fine-textured soils and increasing soil moisture. Increasing the calcined clay rate resulted in decreases in ball-to-surface static friction across all soils and decreased dynamic friction with the fine-textured soils. Increases in soil moisture increased friction in all soils. The fine-textured soils had greater traction than the sandy soils, but no consistent calcined clay or moisture effects on traction were observed. Shear strength of the soils was highly correlated with traction and friction. The results suggest that differences in skinned infield soils are quantifiable, which could lead to the development of playing surface standards.

Increasing Derivatives Market Activity in Emerging Markets and Exchange Rate Exposure

Understanding the effects of off-balance sheet transactions on interest and exchange rate exposures has become more important for emerging market countries that are experiencing remarkable growth in derivatives markets. Using firm level data, we report a significant fall in exposure over the past 10 years and relate this to higher derivatives market participation. Our methodology is composed of a three stage approach: First, we measure foreign exchange exposures using the Adler-Dumas (1984) model. Next, we follow an indirect approach to infer derivatives market participation at the firm level. Finally, we study the relationship between exchange rate exposure and derivatives market participation. Our results show that foreign exchange exposure is negatively related to derivatives market participation, and support the hedging explanation of the exchange rate exposure puzzle. This decline is especially salient in the financial sector, for bigger firms, and over longer time periods. Results are robust to using different exchange rates, a GARCH-SVAR approach to measure exchange rate exposure, and different return horizons.