Emerging Markets and Financing with Preferred Stocks: The Case of Pacific Rim Countries

Points out that preference shares are much more heavily used in emerging economies than in advanced ones to finance new investment projects and develops a mathematical model to show the conditions under which companies are willing to issue them at a price which will attract investors. Outlines the tax systems in Taiwan, South Korea and New Zealand and uses the model to explain why companies in the former two countries issue preference share but New Zealand firms to not

Numerical simulation of 3D viscoelastic developing flow and heat transfer in a rectangular duct with a nonlinear constitutive equation

This paper presents a numerical simulation of the developing flow and heat transfer of a viscoelastic fluid in a rectangular duct. In fully developed flow of a viscoelastic fluid in a non-circular duct, secondary flows normal to the flow direction are expected to enhance the rate of heat and mass transfer. On the other hand, properties such as viscosity, thermal conductivity, specific heat and relaxation time of the fluid are a function of temperature. Therefore, we developed a numerical model which solves the flow and energy equation simultaneously in three dimensional form. We included several equations of state to model the temperature dependency of the fluid parameters. The current paper is one of the first studies which present a 3D numerical simulation for developing viscoelastic duct flow that takes the dependency of flow parameters to the temperature into account. The rheological constitutive equation of the fluid is a common form of the Phan-Thien Tanner (PTT) model, which embodies both influences of elasticity and shear thinning in viscosity. The governing equations are discretized using the FTCS finite difference method on a staggered mesh. The marker-and-cell method is also employed to allocate the parameters on the staggered mesh, and static pressure is calculated using the artificial compressibility approach during the numerical simulation. In addition to report the results of flow and heat transfer in the developing region, the effect of some dimensionless parameters on the flow and heat transfer has also been investigated. The results are in a good agreement with the results reported by others in this field

Flow of second-order fluid in a curved duct with square cross-section

10.1016/j.jnnfm.2010.01.007Journal of Non-Newtonian Fluid Mechanics1657-8323-339JNFM

On viscoelastic drop impact onto thin films: axisymmetric simulations and experimental analysis

Abstract This study investigates the effect of fluid elasticity on axisymmetric droplets colliding with pre-existing liquid films, using both numerical and experimental approaches. The numerical simulations involve solving the incompressible flow momentum equations with viscoelastic constitutive laws using the finite volume method and the volume of fluid (VOF) technique to track the liquid’s free surface. Here, the Oldroyd-B model is used as the constitutive equation for the viscoelastic phase. Experiments are also performed for dilute viscoelastic solutions with 0.005% and 0.01% (w/w) polyacrylamide in 80:20 glycerin/water solutions, in order to ensure the validity of the numerical solution and to investigate the elasticity effect. The formation and temporal evolution of the crown parameters are quantified by considering the flow parameters, including the fluid’s elasticity. The results indicate that the axisymmetric numerical solutions reasonably agree with the experimental observations. Generally, the fluid’s elasticity can enlarge the crown dimension at different thicknesses of the fluid film. Moreover, at intermediate values of the Weissenberg number, the extensional force in the crown wall can control the crown propagation. Furthermore, the results reveal that the effects of the Weber number and the viscosity ratio on this problem are more significant at higher values of the Weissenberg number