Risk and return of U.S. water transportation stocks over time and over bull and bear market conditions

The aim of this paper is to investigate the behaviour of water transportation company stock returns in the U.S. stock exchanges from 1985 to 1994 in order to determine whether the systematic risk of this industry is different from that of the 'average' company in the market, whether it has changed over the ten year period, over bull and bear market conditions, and whether there is a firm 'size' effect in the industry. In the context of the Capital Asset Pricing Model (Capm), we find that the systematic risk of the shipping industry return is not different from that of the 'average' company. It is also found that the covariance of water transportation companies with respect to the overall stock market return did not change over the ten year period although it appears that it has changed over normal upward/downward market movements. There is also reasonable evidence that the intercept of the equation might have changed over normal upward/downward market movements. Finally, we document contradictory evidence regarding the size effect; during the period 1985-1989 we find small companies to have significantly higher returns and risk while during the period 1990-1994 medium size companies tend to have higher risk than small and large firms, which is not however compensated by higher returns.     

Gain and noise figure analysis of Er<Superscript>3+</Superscript>-doped YAG transparent ceramic microchip amplifier

The rate equations and the power evolution equations based on excited state absorption (ESA) and cooperative upconversion (CUC) of high concentration erbium-doped yttrium aluminum garnet (YAG) transparent ceramic waveguide amplifier are set up to analyze the effects of the pump power, active ion concentration and waveguide length on the amplifier gain and noise figure (NF). The numerical analysis predicts that with a pump power of 100mW, an active ion concentration of 1.0×10²⁶ ion/m³ and a waveguide length of 3 cm, a small-signal gain of 30 dB and an NF of 5 dB can be achieved in the micro-chip amplifier.     

Fast passenger ferries and their future

This papers examines the different choices of High Speed Craft (HSC) hull design available and briefly looks at the advantages and disadvantages of each hull form. The trends in various design aspects of HSC such as speed, capacity and size are studied. An investigation on the HSC development is conducted and the future of HSC in the UK is studied. A study onboard an HSC with the aim of trying to determine what passengers think of HSC and why they travel by them is also conducted. Finally, an analysis of the possible market for HSC is carried out.     

A Study in Port Planning: The Example of Mina Zayed

The correct number of berths that a port should provide is solved by a model which minimizes the total port usage cost in terms of the costs of berth provision and the costs accruing to ships from time spent in the port. This model is then applied to Mina Zayed in the Arabian Gulf as an aid to future planning, and from different sets of cargo forecasts an optimal stategy is derived using a game-theoretic approach.     

Study of the helicopter blade running elevation measurement system

Helicopter blade running elevation measurement is an important measure target in helicopter blade dynamic balance experimentation. The elevation influences the helicopter＇ s security and other performance capabilities. In testing, however, it has been difficult to measure the elevation when the rotor reaches high speeds. To get a simple, fast and highly accurate measurement system, photo electricity technology was applied to measuring the blade running elevation. Discussed is the measurement principle of blade running elevation, tire design of the measurement system and analysis of the measurement precision.     

Course-keeping control of underactuated hovercraft

The course-keeping control of underactuated hovercraft with two aft propellers was considered. The control of the heading error and cross-track error was accomplished by the yaw torque merely in this case. The hovercraft dynamic model is nonlinear and underactuated. At first the Controllability of course-keeping control for hovercraft was proved, then a course-keeping control law was derived that keeps hovercraft heading constant as well as minimizes the lateral movement of hovercraft. The proposed law guarantees heading error and sway error all converge to zero exponentially. Simulation tests were carried out to illustrate the effectiveness of the proposed control law. For further research, the disturbance influence would be considered in the dynamic equations.     

Special requirements for alumina ceramic of ESG electrode bowl

At present ESG (Electrostatic Suspended Gyro) is the most precise inertia element in the world. The electrode bowl, which has direct effect on the precision of ESG, is a key part to ESG. Through the analysis of the function and characteristic of the electrode bowl in hollow rotor ESG and the present situation of new material development in the world, the alumina ceramic is regarded as the best material for the electrode bowl of hollow rotor ESG. By analyzing the present situation of alumina ceramic in the world, main technique requirements have been put forward for the alumina ceramic of ESG electrode bowl which is also fit for solid rotor ESG.     

吊拉组合体系预应力连续加劲梁性能分析

按照６ 种不同分跨的设计方案, 每种方案又按照施工阶段采取几种不同预压荷载的计算比较来研究按照预压合龙施工工艺完成体系转换的预应力连续加劲梁吊拉组合体系桥的主梁结构性能, 并选择体系的最优分跨比．