Verification of Job Mix Formula for Alaskan HMA

INE/AUTC 14.1

Characterization of Alaskan Hot-Mix Asphalt containing Reclaimed Asphalt Pavement Material

In order to properly characterize Alaskan HMA materials containing RAP, this study evaluated properties of 3 asphalt binders typically used in Alaska, PG 52-28, PG 52-40, and PG 58-34, and 11 HMA mixtures containing up to 35% RAP that were either produced in the lab or collected from existing paving projects in Alaska. Various binder and mixture engineering properties were determined, including true high binder grades, complex modulus (|G*|), and phase angle (δ) at high performance temperatures, MSCR recovery rate and compliance, BBR stiffness and m-value, DTT failure stress and strain for binders, and dynamic modulus, flow number, IDT creep stiffness and strength for mixtures. Binder cracking temperatures were determined through Thermal Stress Analysis Routine (TSAR) software along with BBR and DTT data. Mixture cracking temperatures were determined with IDT creep stiffness and strength data. It was found that rutting may not be a concern with Alaskan RAP mix, while low-temperature cracking concerns may still exist in RAP mix in Alaska. A savings of $13.3/ton was estimated for a 25% RAP mix, with consideration of Alaskan situations. Many recommendations for future RAP practice and research are recommended based on testing results and cost analysis.Alaska Department of Transportation Statewide Research Offic

Performance of TenCate Paving Interlayers in Asphalt Concrete Pavements

As a continued effort of a previously completed project entitled “Performance of TenCate Mirafi PGM-G4 Interlayer-Reinforced Asphalt Pavements in Alaska,” this project evaluated two newly modified paving interlayers (TruPave and Mirapave) through overlay, dynamic modulus tests and low-temperature performance tests. A field survey was conducted to further evaluate the performance of three paving interlayers (G4, G50/50, and G100/100) applied to field sections constructed in May 2013 at Milepost 148–156 Richardson Highway in Alaska. Overlay test results indicate that asphalt concrete (AC) with paving interlayers (TruPave and Mirapave) shows lower reduction in peak load, suggesting better cracking resistance. The dynamic modulus measurement of AC with paving interlayers reveals more rational results from the IDT mode test than the AMPT method due to similar stress conditions in the paving interlayer. With paving interlayers, the temperature sensitivity and cracking potential of AC material were reduced according to the results from the IDT creep test. Field survey results confirm that all sections reinforced with paving interlayers (G4, G50/50, and G100/100) had better cracking resistance than the control section.TenCate Geosynthetics North Americ

Performance of Tencate Mirafi PGM-G4 Interlayer-Reinforced Asphalt Pavements in Alaska

Geosynthetics has been used in hot mix asphalt (HMA) overlays in a variety of design and construction situations for more than three decades. A number of positive benefits have been identified such as waterproofing control for base and subgrade protection, improved fatigue resistance and reduced propagation of reflective cracks. In cold regions such as Alaska and other northern states, pavements are more prone to distresses due to extreme climatic conditions. Research is needed to explore how interlayers functions in asphalt pavements in cold regions. The interlayers used for pavement reinforcement applications and available in the market are primarily biaxial. Biaxial grids with equal strength in both the machine and cross machine directions allow stress transfer at low strain mainly in longitudinal and transverse directions. The new PGM-G4 paving composite developed by Tencate Geosynthetics contains multi-axial fiberglass filament yarn, which changes the aperture geometry from a rectangular to a quad angular grid structure. This unique feature improves the structure radial stiffness and efficiently distributes stress from surface layer to the geogrid throughout the full 360o. This isotropic feature could deliver optimal asphalt concrete (AC)/grid interaction and more efficient reinforcement. There is a need to identify/validate its expected performance and added value over conventional biaxial grids. Hence, a study has been conducted on interlayer-reinforced asphalt pavements in Alaska that included two phases: laboratory index testing (Phase I) and field performance evaluation (Phase II). Phase I focused on laboratory evaluation of engineering properties of PGM-G4 composite paving grid-reinforced asphalt pavement structure and comparison with other types of interlayers. Five types of interlayers were evaluated in this study for various laboratory tests and they were PGM-G4 (multi-axial composite grid), PGM-G100/100 and PGM-G50/50 (bi-axial composite grid), TruPave® (engineered paving fiberglass and polyester hybrid mat), and MPV500 (conventional polypropylene interlayer). The performance tests included asphalt retention and grab strength tests of interlayers, and shear strength, permeability and indirect tension (IDT) tests of interlayer-reinforced asphalt mixtures. Further, a typical Alaska flexible pavement structure was used, and pavement structure analyses and simulation were conducted by Bisar, Alaska Flexible Pavement Design (AKFPD) and ABAQUS programs to investigate the effects of paving interlayers on the pavement performance.Tencate Geosynthetics North Americ

Financial Impact of Fines in the Unbound Pavement Layers

INE/AUTC 14.1

Idiosyncratic Risk and Short Interest Analysis for Canadian Large Cap Stocks

While previous studies have focused on the relation between idiosyncratic risk and short interest in US stock markets, we test whether the Canadian market shows the same symptoms in costs limiting arbitrage. In order to measure arbitrage cost, we use idiosyncratic risk and use it as a proxy to determine the cost level. To prevent any ambiguity and bias in our result, we use commonly recognized indexes to measure both transaction and holding costs. Consistent with the similar study conducted in U.S., we find that high Short Interest Canadian stocks appear to have higher idiosyncratic risk that is significant enough to affect investors’ decisions

State Ownership and Abnormal Accruals in Highly-Valued Firms: Evidence from China

We examine how state ownership affects Chinese firms’ abnormal accruals during a period of high valuation. We find the magnitude of abnormal accruals first increases for up to three years of high valuation, and then reduces after the fourth year. We also find that managers turn to using abnormal real transactions after four consecutive years of high valuation. Next, we examine whether the degree of abnormal accruals in highly-valued firms differs between state-owned enterprises (SOEs) and non-NSOEs. Supporting the view that SOE managers have less incentive to sustain high stock prices, we find evidence that highly-valued SOEs have significantly lower levels of abnormal accruals than highly-valued NSOEs during the period of high valuation. Our findings contribute to the literature on the cross-sectional variation in the relation between managers’ pressure to sustain high stock prices and their accounting choices in firms with different ownership structures