The specific concepts of Islamic capital market are based on transparency, accountability, and no asymmetric information. A capital market is said to be efficient with respect to an information item if the prices of s...The specific concepts of Islamic capital market are based on transparency, accountability, and no asymmetric information. A capital market is said to be efficient with respect to an information item if the prices of securities fully impound the return implication of that item. This study has two main objectives. Firstly, for testing the efficiency of Islamic capital market which focuses on Jakarta Islamic Index （JII）. Secondly, by this research finding the regulator can make a good solution to create the real Islamic capital market. This study concludes that the Islamic capital market is not efficient in information. This is proved by test, where the result for both mean adjusted model and market adjusted model shows not significant, which means that the stock price that occurred has not been able to reflect a strong relationship with the real conditions that exist within the company. The second conclusion is the magnitude of abnormal return suggests that the market still has asymmetric information that will cause the occurrence of abnormal return. This is very unfortunate because Islamic capital market should be efficient in reflecting information transparency that could create a fair price in accordance with the real condition of the company＇s stock issuance.展开更多
Mini centrifugal pumps having a diameter smaller than lOOmm are employed in many fields. But the design method for the mini centrifugal pump is not established because the internal flow condition for these small-sized...Mini centrifugal pumps having a diameter smaller than lOOmm are employed in many fields. But the design method for the mini centrifugal pump is not established because the internal flow condition for these small-sized fluid machines is not clarified and conventional theory is not suitable for small-sized pumps. Therefore, mini cen- trifugal pumps with simple structure were investigated by this research. Splitter blades were adopted in this re- search to improve the performance and the internal flow condition of mini centrifugal pump which had large blade outlet angle. The original impeller without the splitter blades and the impeller with the splitter blades were prepared for experiment. The performance tests are conducted with these rotors in order to investigate the effect of the splitter blades on performance and internal flow condition of mini centrifugal pump. On the other hand, a three dimensional unsteady numerical flow analysis was conducted to investigate the change of the internal flow according to the rotor rotation. It is clarified from the experimental results that the performance of the mini cen- trifugal pump is improved by the splitter blades. The blade-to-blade low velocity region was suppressed in the case with the splitter blades. In addition to that, the unsteady flows near the volute casing tongue were suppressed due to the splitter blades. In the present paper, the performance of the mini centrifugal pump is shown and the un- steady flow condition is clarified with the results of the numerical flow analysis. Furthermore, the effects of the splitter blades on the performance and the unsteady internal flow condition are investigated.展开更多
文摘The specific concepts of Islamic capital market are based on transparency, accountability, and no asymmetric information. A capital market is said to be efficient with respect to an information item if the prices of securities fully impound the return implication of that item. This study has two main objectives. Firstly, for testing the efficiency of Islamic capital market which focuses on Jakarta Islamic Index （JII）. Secondly, by this research finding the regulator can make a good solution to create the real Islamic capital market. This study concludes that the Islamic capital market is not efficient in information. This is proved by test, where the result for both mean adjusted model and market adjusted model shows not significant, which means that the stock price that occurred has not been able to reflect a strong relationship with the real conditions that exist within the company. The second conclusion is the magnitude of abnormal return suggests that the market still has asymmetric information that will cause the occurrence of abnormal return. This is very unfortunate because Islamic capital market should be efficient in reflecting information transparency that could create a fair price in accordance with the real condition of the company＇s stock issuance.
文摘Mini centrifugal pumps having a diameter smaller than lOOmm are employed in many fields. But the design method for the mini centrifugal pump is not established because the internal flow condition for these small-sized fluid machines is not clarified and conventional theory is not suitable for small-sized pumps. Therefore, mini cen- trifugal pumps with simple structure were investigated by this research. Splitter blades were adopted in this re- search to improve the performance and the internal flow condition of mini centrifugal pump which had large blade outlet angle. The original impeller without the splitter blades and the impeller with the splitter blades were prepared for experiment. The performance tests are conducted with these rotors in order to investigate the effect of the splitter blades on performance and internal flow condition of mini centrifugal pump. On the other hand, a three dimensional unsteady numerical flow analysis was conducted to investigate the change of the internal flow according to the rotor rotation. It is clarified from the experimental results that the performance of the mini cen- trifugal pump is improved by the splitter blades. The blade-to-blade low velocity region was suppressed in the case with the splitter blades. In addition to that, the unsteady flows near the volute casing tongue were suppressed due to the splitter blades. In the present paper, the performance of the mini centrifugal pump is shown and the un- steady flow condition is clarified with the results of the numerical flow analysis. Furthermore, the effects of the splitter blades on the performance and the unsteady internal flow condition are investigated.
