Financial distress, financial constraint and investment decision: Evidence from Brazil

This paper analyses the presence of financial constraint in the investment decisions of 367 Brazilian firms from 1997 to 2004, using a Bayesian econometric model with group-varying parameters. The motivation for this paper is the use of clustering techniques to group firms in a totally endogenous form. In order to classify the firms we used a hybrid clustering method, that is, hierarchical and non-hierarchical clustering techniques jointly. To estimate the parameters a Bayesian approach was considered. Prior distributions were assumed for the parameters, classifying the model in random or fixed effects. Ordinate predictive density criterion was used to select the model providing a better prediction. We tested thirty models and the better prediction considers the presence of 2 groups in the sample, assuming the fixed effect model with a Student t distribution with 20 degrees of freedom for the error. The results indicate robustness in the identification of financial constraint when the firms are classified by the clustering techniques. (C) 2010 Elsevier B.V. All rights reserved.

A boundary element formulation for analysis of elastoplastic plates with geometrical nonlinearity

In this paper a new boundary element method formulation for elastoplastic analysis of plates with geometrical nonlinearities is presented. The von Mises criterion with linear isotropic hardening is considered to evaluate the plastic zone. Large deflections are assumed but within the context of small strain. To derive the boundary integral equations the von Karman`s hypothesis is taken into account. An initial stress field is applied to correct the true stresses according to the adopted criterion. Isoparametric linear elements are used to approximate the boundary unknown values while triangular internal cells with linear shape function are adopted to evaluate the domain value influences. The nonlinear system of equations is solved by using an implicit scheme together with the consistent tangent operator derived along the paper. Numerical examples are presented to demonstrate the accuracy and the validity of the proposed formulation.

A numerical model for the description of the nonlinear behaviour of multi-leaf masonry walls

A nonlinear finite element model was developed to simulate the nonlinear response of three-leaf masonry specimens, which were subjected to laboratory tests with the aim of investigating the mechanical behaviour of multiple-leaf stone masonry walls up to failure. The specimens consisted of two external leaves made of stone bricks and mortar joints, and an internal leaf in mortar and stone aggregate. Different loading conditions, typologies of the collar joints, and stone types were taken into account. The constitutive law implemented in the model is characterized by a damage tensor, which allows the damage-induced anisotropy accompanying the cracking process to be described. To follow the post-peak behaviour of the specimens with sufficient accuracy it was necessary to make the damage model non-local, to avoid mesh-dependency effects related to the strain-softening behaviour of the material. Comparisons between the predicted and measured failure loads are quite satisfactory in most of the studied cases. (c) 2007 Elsevier Ltd. All rights reserved.

Dynamic formation of SEBS copolymer submicrometric structures

Highly ordered A-B-A block copolymer arrangements in the submicrometric scale, resulting from dewetting and solvent evaporation of thin films, have inspired a variety of new applications in the nanometric world. Despite the progress observed in the control of such structures, the intricate scientific phenomena related to regular patterns formation are still not completely elucidated. SEBS is a standard example of a triblock copolymer that forms spontaneously impressive pattern arrangements. From macroscopic thin liquid films of SEBS solution, several physical effects and phenomena act synergistically to achieve well-arranged patterns of stripes and/or droplets. That is, concomitant with dewetting, solvent evaporation, and Marangoni effect, Rayleigh instability and phase separation also play important role in the pattern formation. These two last effects are difficult to be followed experimentally in the nanoscale, which render difficulties to the comprehension of the whole phenomenon. In this paper, we use computational methods for image analysis, which provide quantitative morphometric data of the patterns, specifically comprising stripes fragmentation into droplets. With the help of these computational techniques, we developed an explanation for the final part of the pattern formation, i.e. structural dynamics related to the stripes fragmentation. (C) 2010 Elsevier Ltd. All rights reserved.

Glass formation of alloys selected by lambda and electronegativity criteria in the Ti-Zr-Fe-Co system

This work evaluates the glass formation of selected alloys based on the Ti-Zr-Fe-Co system, assuming the synergy of two distinct criteria: minimum topological instability and average electronegativity plots. Combining the minimum topological instability and the average electronegativity values result in a plot in which the most probable good glass former compositions are identified Ti-Zr rich alloys with Fe and Co additions were produced, compared against the final plot, and the best glass forming alloy composition was found to be very close the theoretically predicted ones on the Ti-Zr rich side, for both Ti-Zr-Fe and Ti-Zr-Co systems. (C) 2009 Elsevier B V All rights reserved

Fatigue behaviour of friction stir welded AA2024-T3 alloy: longitudinal and transverse crack growth

The fatigue crack growth properties of friction stir welded joints of 2024-T3 aluminium alloy have been studied under constant load amplitude (increasing-Delta K), with special emphasis on the residual stress (inverse weight function) effects on longitudinal and transverse crack growth rate predictions (Glinka`s method). In general, welded joints were more resistant to longitudinally growing fatigue cracks than the parent material at threshold Delta K values, when beneficial thermal residual stresses decelerated crack growth rate, while the opposite behaviour was observed next to K-C instability, basically due to monotonic fracture modes intercepting fatigue crack growth in weld microstructures. As a result, fatigue crack growth rate (FCGR) predictions were conservative at lower propagation rates and non-conservative for faster cracks. Regarding transverse cracks, intense compressive residual stresses rendered welded plates more fatigue resistant than neat parent plate. However, once the crack tip entered the more brittle weld region substantial acceleration of FCGR occurred due to operative monotonic tensile modes of fracture, leading to non-conservative crack growth rate predictions next to K-C instability. At threshold Delta K values non-conservative predictions values resulted from residual stress relaxation. Improvements on predicted FCGR values were strongly dependent on how the progressive plastic relaxation of the residual stress field was considered.

Verification of a mixed high-order accurate DNS code for laminar turbulent transition by the method of manufactured solutions

This paper presents results on a verification test of a Direct Numerical Simulation code of mixed high-order of accuracy using the method of manufactured solutions (MMS). This test is based on the formulation of an analytical solution for the Navier-Stokes equations modified by the addition of a source term. The present numerical code was aimed at simulating the temporal evolution of instability waves in a plane Poiseuille flow. The governing equations were solved in a vorticity-velocity formulation for a two-dimensional incompressible flow. The code employed two different numerical schemes. One used mixed high-order compact and non-compact finite-differences from fourth-order to sixth-order of accuracy. The other scheme used spectral methods instead of finite-difference methods for the streamwise direction, which was periodic. In the present test, particular attention was paid to the boundary conditions of the physical problem of interest. Indeed, the verification procedure using MMS can be more demanding than the often used comparison with Linear Stability Theory. That is particularly because in the latter test no attention is paid to the nonlinear terms. For the present verification test, it was possible to manufacture an analytical solution that reproduced some aspects of an instability wave in a nonlinear stage. Although the results of the verification by MMS for this mixed-order numerical scheme had to be interpreted with care, the test was very useful as it gave confidence that the code was free of programming errors. Copyright (C) 2009 John Wiley & Sons, Ltd.

Rotifer abundance, biomass, and secondary production after the recovery of hydrologic connectivity between a river and two marginal lakes (Sao Paulo, Brazil)

Rotifera density, biomass, and secondary production on two marginal lakes of Paranapanema River were compared after the recovery of hydrologic connectivity with the river (Sao Paulo State, Brazil). Daily samplings were performed in limnetic zone of both lakes during the rainy season immediately after lateral inflow of water and, in the dry period, six months after hydrologic connectivity recovery. In order to identify the factors that affect rotifer population dynamics, lake water level, volume, depth, temperature, transparency, dissolved oxygen, pH, alkalinity, conductivity, suspended solids, nutrients, and chlorophyll-a were determined. Variations of water physical and chemical factors that affect rotifer population were related to the lake-river degree of connection and to water level rising after drought. The water lateral inflow from the river resulted in an increase in lake water volume, depth, and transparency and a decrease in water pH, alkalinity, and suspended solids. The lake with the wider river connection, more frequent biota exchange, and larger amount of particulate and dissolved materials was richer and more diverse, while rotifer density, biomass, and productivity were lower in both periods studied. Density, biomass, and secondary production were higher in the lake with the smaller river connection and the higher physical and chemical stability. Our results show that the connectivity affects the limnological stability, associated to seasonality. Stable conditions, caused by low connectivity in dry periods, were related with high density, biomass and secondary production. Conversely, instability conditions in rainy periods were associated to elevated richness and diversity values, caused by exchange biota due to higher connectivity. (C) 2008 Elsevier GmbH. All rights reserved.

A 2-D Delaunay refinement algorithm using an initial prerefinement from the boundary mesh

An improvement to the quality bidimensional Delaunay mesh generation algorithm, which combines the mesh refinement algorithms strategy of Ruppert and Shewchuk is proposed in this research. The developed technique uses diametral lenses criterion, introduced by L. P. Chew, with the purpose of eliminating the extremely obtuse triangles in the boundary mesh. This method splits the boundary segment and obtains an initial prerefinement, and thus reducing the number of necessary iterations to generate a high quality sequential triangulation. Moreover, it decreases the intensity of the communication and synchronization between subdomains in parallel mesh refinement.

Buckling and post-buckling of extensible rods revisited: A multiple-scale solution

An exact non-linear formulation of the equilibrium of elastic prismatic rods subjected to compression and planar bending is presented, electing as primary displacement variable the cross-section rotations and taking into account the axis extensibility. Such a formulation proves to be sufficiently general to encompass any boundary condition. The evaluation of critical loads for the five classical Euler buckling cases is pursued, allowing for the assessment of the axis extensibility effect. From the quantitative viewpoint, it is seen that such an influence is negligible for very slender bars, but it dramatically increases as the slenderness ratio decreases. From the qualitative viewpoint, its effect is that there are not infinite critical loads, as foreseen by the classical inextensible theory. The method of multiple (spatial) scales is used to survey the post-buckling regime for the five classical Euler buckling cases, with remarkable success, since very small deviations were observed with respect to results obtained via numerical integration of the exact equation of equilibrium, even when loads much higher than the critical ones were considered. Although known beforehand that such classical Euler buckling cases are imperfection insensitive, the effect of load offsets were also looked at, thus showing that the formulation is sufficiently general to accommodate this sort of analysis. (c) 2008 Elsevier Ltd. All rights reserved.

Secondary instabilities in the flow around two circular cylinders in tandem

Direct stability analysis and numerical simulations have been employed to identify and characterize secondary instabilities in the wake of the flow around two identical circular cylinders in tandem arrangements. The centre-to-centre separation was varied from 1.2 to 10 cylinder diameters. Four distinct regimes were identified and salient cases chosen to represent the different scenarios observed, and for each configuration detailed results are presented and compared to those obtained for a flow around an isolated cylinder. It was observed that the early stages of the wake transition changes significantly if the separation is smaller than the drag inversion spacing. The onset of the three-dimensional instabilities were calculated and the unstable modes are fully described. In addition, we assessed the nonlinear character of the bifurcations and physical mechanisms are proposed to explain the instabilities. The dependence of the critical Reynolds number on the centre-to-centre separation is also discussed.

Influence of hardness of the harder body on wear regime transition in a sliding pair of steels

In the unlubricated sliding wear of steels the mild-severe and severe-mild wear transitions have long been investigated. The effect of system inputs such as normal load, sliding speed, environment humidity and temperature, material properties, among others, on those transitions have also been studied. Although transitions seem to be caused by microstructural changes, surfaces oxidation and work-hardening, some questions remain regarding the way each aspect is involved. Since the early studies in sliding wear, it has usually been assumed that only the material properties of the softer body influence the wear behavior of contacting surfaces. For example, the Archard equation involves only the hardness of the softer body, without considering the hardness of the harder body. This work aims to discuss the importance of the harder body hardness in determining the wear regime operation. For this, pin-on-disk wear tests were carried out, in which the disk material was always harder than the pin material. Variations of the friction force and vertical displacement of the pin were registered during the tests. A material characterization before and after tests was conducted using stereoscopy and scanning electron microscopy (SEM) methods, in addition to mass loss, surface roughness and microhardness measurements. The wear results confirmed the occurrence of a mild-severe wear transition when the disk hardness was decreased. The disk hardness to pin hardness ratio (H(d)/H(p)) was used as a criterion to establish the nature of surface contact deformation and to determine the wear regime transition. A predominantly elastic or plastic contact, characterized by H(d)/H(p) values higher or lower than one, results in a mild or severe wear regime operation, respectively. (c) 2009 Elsevier B.V. All rights reserved.

Floquet stability analysis of the flow around an oscillating cylinder

This investigative work is concerned with the flow around a circular cylinder submitted to forced transverse oscillations. The goal is to investigate how the transition to turbulence is initiated in the wake for cases with different Reynolds numbers (Re) and displacement amplitudes (A). For each Re the motion frequency is kept constant, close to the Strouhal number of the flow around a fixed cylinder at the same Re. Stability analysis of two-dimensional periodic flows around a forced-oscillating cylinder is carried out with respect to three-dimensional infinitesimal perturbations. The procedure consists of performing a Floquet type analysis of time-periodic base flows, computed using the spectral/hp element method. With the results of the Floquet calculations, considerations regarding the stability of the system are drawn, and the form of the instability at its onset is obtained. The critical Reynolds number is observed to change with the amplitude of oscillation. With respect to instabilities, unstable modes with the same symmetry as mode A of a fixed cylinder are observed; however, they present different wavelengths. Also, the instabilities observed for the oscillating cylinder are distinctively stronger in the braid shear layers. Other unstable modes similar to mode B are found. Quasi-periodic modes are observed in the 2S wake, and subharmonic mode occurrences are reported in P + S wakes. (C) 2009 Elsevier Ltd. All rights reserved.

Effect of the domain spanwise periodic length on the flow around a circular cylinder

We assess the effect of the choice of spanwise periodic length on simulations of the flow around a fixed circular cylinder. The Reynolds number is set to 400 because, at this value, both lift coefficient and shedding frequency show significant drop due to three-dimensional flow structures. From the analysis of the three-dimensionalities of the wake and of the integral quantities such as Strouhal number, RMS of lift coefficient and energy contained in the three-dimensional portion of the flow we obtain an estimate of the minimum spanwise length to satisfactorily represent the flow. Furthermore, we observe a distinct wake behavior when the spanwise length is approximately the mode B instability wavelength. (C) 2011 Elsevier Ltd. All rights reserved.

Experiments on stress-triaxiality dependence of material behavior of aluminum alloys

The paper presents and discusses experimental procedures, visual observations and test results considered important to obtain data that can be used in validation of constitutive relations and failure criteria. The aim is to investigate the combined effects of stress intensity, stress-triaxiality and Lode parameter on the material response and failure behavior of aluminum alloys. Smooth and pre-notched tensile and shear specimens were manufactured from both very thin sheets and thicker plates to cover a wide range of stress triaxialities and Lode parameters. In addition, modified Arcan specimens were designed allowing investigation of the effect of sudden changes in stress states and deformation modes on the material behavior. (C) 2009 Elsevier Ltd. All rights reserved.