Effects of Factors on the Market Price of the Shares Using Design of Experiment

When the cost of capital, dividends and the price of the share at the beginning is known, Modigliani and Miller’s model can be used to estimate the price of the share at the end of the period. A design of experiment (Taguchi’s orthogonal array) is used in order to investigate the impact of three parameters on the price of the share at the end of the period. The main aim of this research article is to find which parameter is more significant on the price of the share at the end of the period. Taguchi’s methodology of design of the experiment is used for the experimental setup and to optimize the factors for the value of shares. In this study, the optimal combination of input factors is sought for the first time using the Taguchi method. To explore the effects of input factors, the Taguchi method L9 design of experiment (DOE), analysis of variance (ANOVA), regression analysis, and analysis of mean (ANOM) are used and the analysis is carried out using MINITAB 18 software. The ANOM is used to check the best optimal combination among the parameters where the value of the share is maximum, also it measures which parameter impacts more on the price of the share at the end of the period. ANOVA is used to measure the percentage contribution of each parameter on the price of the share

Control of eta carbide formation in tungsten carbide powders sputter-coated with (Fe/Ni/Cr)

Composite powders of tungsten carbide with variable coating contents of Fe/Ni/Cr based alloys (1-15 wt.%) were prepared by sputtering. The coated powders have revealed a good performance to shape-forming and sintering. However, the presence of nanocrystalline coatings could enhance the formation of a brittle phase during sintering, named [eta]-phase, (M, W)6C. To investigate this effect, the powders were heat-treated at variable temperatures, up to 1400 °C. For comparison, conventionally prepared powders were studied, too, and the content of [eta]-phase was found to be higher for the sputter-coated ones. This result is attributed to the content of binder elements with affinity to carbon, like chromium, enhanced by the difference on binder characteristics, such as nanocrystallinity and morphology. It was concluded that an effective control of the reaction can be achieved by increasing in the binder composition the ratio between the elements without affinity and those with affinity to carbon and/or enlarging the carbon content.http://www.sciencedirect.com/science/article/B6TY1-4MBJY6R-1/1/f383fedbf0fa61a789c1d40bd9608ba