Evaluation of selected chemical processes for production of low-cost silicon phase 2. silicon material task, low-cost silicon solar array project

Progress from October 1, 1977, through December 31, 1977, is reported in the design of the 50 MT/year experimental facility for the preparation of high purity silicon by the zinc vapor reduction of silicon tetrachloride in a fluidized bed of seed particles to form a free flowing granular product

Development of a chromium-thoria alloy

Low temperature ductility and high temperature strength of pure chromium and chromium-thoria alloy prepared from vapor deposited powder

ALUMINA COATING OF UOsup2sup 2 SHOT BY HYDROLYSIS OF ALUMINUM CHLORIDE VAPOR

Uniform, dense coatings of alumina about 5 to 150 mu thick were applied to uranium dioxide particles 44 to 350 mu in diameter by hydrolysis of aluminum chloride vapor in a fluidized bed of the particles at 1830 deg F. The coated particles were resistant to nitric acid leaching, to oxidation in 1830 deg F air, and to thermal cycling from 6OO to 2500 deg F. After low neutron exposures, the coated particles showed excellent fission-gas retention at temperatures up to 2400 deg F in inert gas. Although not optimized in the study, the coating process appears to have commercial feasibility. (auth

Profitability as a business goal: the multicriteria approach to the ranking of the five largest Croatian banks

Background: The ranking of commercial banks is usually based on using a single criterion, the size of assets or income. A multicriteria approach allows a more complex analysis of their business efficiency. Objectives: This paper proposes the ranking of banks based on six financial criteria using a multicriteria approach implementing a goal programming model. The criteria are classified into three basic groups: profitability, credit risk and solvency. Methods/Approach: Business performance is evaluated using a score for each bank, calculated as the weighted sum of relative values of individual indicators. Results: In the process of solving the corresponding goal programming problem, the weights are calculated. It is assumed that the goal of each bank is the highest profitability. Because of the market competition among banks, the weights of indicators depend on the performance of each bank. This method is applied to the five biggest Croatian banks (ZABA, PBZ, ERSTE, RBA and HYPO). Conclusion: For the observed period (2010), the highest priority is given to profitability and then to credit risk. The ranking is achieved by using a multicriteria model

The performance of stochastic designs in wellbore drilling operations

© 2018, The Author(s). Wellbore drilling operations frequently entail the combination of a wide range of variables. This is underpinned by the numerous factors that must be considered in order to ensure safety and productivity. The heterogeneity and sometimes unpredictable behaviour of underground systems increases the sensitivity of drilling activities. Quite often the operating parameters are set to certify effective and efficient working processes. However, failings in the management of drilling and operating conditions sometimes result in catastrophes such as well collapse or fluid loss. This study investigates the hypothesis that optimising drilling parameters, for instance mud pressure, is crucial if the margin of safe operating conditions is to be properly defined. This was conducted via two main stages: first a deterministic analysis—where the operating conditions are predicted by conventional modelling procedures—and then a probabilistic analysis via stochastic simulations—where a window of optimised operation conditions can be obtained. The outcome of additional stochastic analyses can be used to improve results derived from deterministic models. The incorporation of stochastic techniques in the evaluation of wellbore instability indicates that margins of the safe mud weight window are adjustable and can be extended considerably beyond the limits of deterministic predictions. The safe mud window is influenced and hence can also be amended based on the degree of uncertainty and the permissible level of confidence. The refinement of results from deterministic analyses by additional stochastic simulations is vital if a more accurate and reliable representation of safe in situ and operating conditions is to be obtained during wellbore operations.Published versio

Price discovery in the CDS market: the informational role of equity short interest

This paper documents a negative relation between equity short interest and future returns on credit default swaps (CDS). This relation is most consistent with the theory that equity short interest telegraphs relevant information to secondary market CDS investors about credit spread not transmitted into prices in other ways. The CDS return predictive pattern also strengthens negatively for equity short-interest positions subject to an outward shift in the demand for shortable stocks, which we view as a proxy for the expected benefits of private information (Cohen et al. in J Finance 62(5):2061–2096, 2007). This suggests that features of the shorting market may help explain the lagged response of CDS spreads to equity short interest. Our tests of economic significance, however, do not support the view that the CDS return predictive pattern is strong enough to cover the round-trip cost of trading in the secondary CDS market