Design Engineer/Contractor Bankruptcy: Considerations for Debtor and Creditors
The bankruptcy rate within the American construction industry has been increasing in recent years. Despite its increasing frequency, many construction industry professionals remain unaware of what a bankruptcy proceeding entails. This lack of awareness is cause for concern to both debtors and creditors. This paper, therefore, is designed to, on an overview level, lay out the factors construction debtors and creditors must consider when deciding whether to file for bankruptcy. Assuming that the decision to file for bankruptcy has been made, the paper presents an analytical overview of the bankruptcy code in terms of its operative chapters, under which a construction‐related debtor might seek relief from creditors. Since the decision to file for bankruptcy fundamentally changes business relationships, models of both Chapter 7 and 11 proceedings are included to illustrate common occurrences. It is hoped that this paper will prepare construction‐related debtors and creditors for dealing with the possibility o...
Entropy for Business Failure Prediction: An Improved Prediction Model for the Construction Industry
This paper examines empirically the effectiveness of entropy measures derived from information theory combined with discriminant analysis in the prediction of construction business failure. Such failure in modern complex supply chains is an extremely disruptive force, and its likelihood is a key factor in the prequalification appraisal of contractors. The work described, using financial data from the Taiwanese construction industry, extends the classical methods by applying Shannon's information theory to improve their prediction ability and provides an alternative to newer artificial-intelligence-based approaches.
Far-field dispersal modeling for fuel-air-explosive devices
A computer model for simulating the explosive dispersal of a fuel agent in the far-field regime is described and is applied to a wide variety of initial conditions to judge their effect upon the resulting fuel/air cloud. This work was directed toward modeling the dispersal process associated with Fuel-Air-Explosives devices. The far-field dispersal regime is taken to be that time after the initial burster charge detonation in which the shock forces no longer dominate the flow field and initial canister and fuel mass breakup has occurred. The model was applied to a low vapor pressure fuel, a high vapor pressure fuel and a solid fuel. A strong dependence of the final cloud characteristics upon the initial droplet size distribution was demonstrated. The predicted fuel-air clouds were highly non-uniform in concentration. 18 refs., 86 figs., 4 tabs.