Mossbauer analysis of the structure Fe-Ni-C alloys after heat and ultrasonic treatments
Mossbauer spectroscopy has been used for atomic scale investigation of austenitic Fe-Ni-C alloys after ultrasonic and low-frequency impact surface treatments. The phase composition and hyperfine structure of the Fe-30.5 % Ni—1.5 %C and Fe-25.3 %Ni-0.78 %C alloys with the f.c.c. lattice after anneali...
Gespeichert in:
| Datum: | 2004 |
|---|---|
| Hauptverfasser: | , , , |
| Format: | Artikel |
| Sprache: | English |
| Veröffentlicht: |
НТК «Інститут монокристалів» НАН України
2004
|
| Schriftenreihe: | Functional Materials |
| Online Zugang: | https://nasplib.isofts.kiev.ua/handle/123456789/135245 |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| Назва журналу: | Digital Library of Periodicals of National Academy of Sciences of Ukraine |
| Zitieren: | Mossbauer analysis of the structure Fe-Ni-C alloys after heat and ultrasonic treatments / V.M. Nadutov, D.V. Semenov, Ye.O. Svystunov, G.I. Kuzmich // Functional Materials. — 2004. — Т. 11, № 1. — С. 101-107. — Бібліогр.: 15 назв. — англ. |
Institution
Digital Library of Periodicals of National Academy of Sciences of Ukraine| id |
nasplib_isofts_kiev_ua-123456789-135245 |
|---|---|
| record_format |
dspace |
| spelling |
nasplib_isofts_kiev_ua-123456789-1352452025-02-09T21:51:37Z Mossbauer analysis of the structure Fe-Ni-C alloys after heat and ultrasonic treatments Мессбауерівський аналіз структури Fe-Ni-C сплавів після термічної та ультразвукової обробок Nadutov, V.M. Semenov, D.V. Svystunov, Ye.O. Kuzmich, G.I. Mossbauer spectroscopy has been used for atomic scale investigation of austenitic Fe-Ni-C alloys after ultrasonic and low-frequency impact surface treatments. The phase composition and hyperfine structure of the Fe-30.5 % Ni—1.5 %C and Fe-25.3 %Ni-0.78 %C alloys with the f.c.c. lattice after annealing at 1373 K and 773 K in vacuum and following ultrasonic surface treatment (UST, f = 1—3 kHz, the amplitude 20 pm, t = 8— 24 s) have been studied. The results were analyzed in comparison with the low-frequency impact surface treatment (1ST) of the alloys. The microhardness of the alloys after UST has been analyzed. Мессбауэровская спектроскопия использована для исследования на атомном уровне аустенитных Fe-Ni-C сплавов после ультразвуковой и низкочастотной ударной поверхностной обработок. Изучен фазовый состав и сверхтонкая структура ГЦК сплавов Fe-30.5 % Ni—1.5 %C и Fe-25.3 % Ni—0.78 %C после нагрева до 1373 К и 773 К в вакууме и последующей ударной ультразвуковой обработки (УЗО), f = 1-3 кГц, амплитуда 20 мкм, t = 8-24 с. Результаты проанализированы в сравнении с влиянием низкочастотной ударной поверхностной обработки (УПО) сплавов. После УЗО проанализирована микротвердость сплавов. Mecc6ayepiBCbKy спектроскопію використано для дослідження на атомному рівні аустенітних Fe-Ni-C сплавів після ультразвукової та низькочастотної ударної поверхневої обробок. Вивчено фазовий склад і надтонку структуру ГЦК сплавів Fe-30.5 %Ni-1.5 %C та Fe-25.3 % Ni—0.78 %C після нагрівання до 1373 К і 773 К у вакуумі та наступної ударної ультразвукової обробки (УЗО) (f = 1-3 кГц, амплітуда 20 мкм, t = 8-24 с). Результати проаналізовано у порівнянні з впливом низькочастотної ударної поверхневої обробки (УПО) сплавів. Після УЗО проаналізована мікротвердість сплавів. 2004 Article Mossbauer analysis of the structure Fe-Ni-C alloys after heat and ultrasonic treatments / V.M. Nadutov, D.V. Semenov, Ye.O. Svystunov, G.I. Kuzmich // Functional Materials. — 2004. — Т. 11, № 1. — С. 101-107. — Бібліогр.: 15 назв. — англ. 1027-5495 https://nasplib.isofts.kiev.ua/handle/123456789/135245 en Functional Materials application/pdf НТК «Інститут монокристалів» НАН України |
| institution |
Digital Library of Periodicals of National Academy of Sciences of Ukraine |
| collection |
DSpace DC |
| language |
English |
| description |
Mossbauer spectroscopy has been used for atomic scale investigation of austenitic Fe-Ni-C alloys after ultrasonic and low-frequency impact surface treatments. The phase composition and hyperfine structure of the Fe-30.5 % Ni—1.5 %C and Fe-25.3 %Ni-0.78 %C alloys with the f.c.c. lattice after annealing at 1373 K and 773 K in vacuum and following ultrasonic surface treatment (UST, f = 1—3 kHz, the amplitude 20 pm, t = 8— 24 s) have been studied. The results were analyzed in comparison with the low-frequency impact surface treatment (1ST) of the alloys. The microhardness of the alloys after UST has been analyzed. |
| format |
Article |
| author |
Nadutov, V.M. Semenov, D.V. Svystunov, Ye.O. Kuzmich, G.I. |
| spellingShingle |
Nadutov, V.M. Semenov, D.V. Svystunov, Ye.O. Kuzmich, G.I. Mossbauer analysis of the structure Fe-Ni-C alloys after heat and ultrasonic treatments Functional Materials |
| author_facet |
Nadutov, V.M. Semenov, D.V. Svystunov, Ye.O. Kuzmich, G.I. |
| author_sort |
Nadutov, V.M. |
| title |
Mossbauer analysis of the structure Fe-Ni-C alloys after heat and ultrasonic treatments |
| title_short |
Mossbauer analysis of the structure Fe-Ni-C alloys after heat and ultrasonic treatments |
| title_full |
Mossbauer analysis of the structure Fe-Ni-C alloys after heat and ultrasonic treatments |
| title_fullStr |
Mossbauer analysis of the structure Fe-Ni-C alloys after heat and ultrasonic treatments |
| title_full_unstemmed |
Mossbauer analysis of the structure Fe-Ni-C alloys after heat and ultrasonic treatments |
| title_sort |
mossbauer analysis of the structure fe-ni-c alloys after heat and ultrasonic treatments |
| publisher |
НТК «Інститут монокристалів» НАН України |
| publishDate |
2004 |
| url |
https://nasplib.isofts.kiev.ua/handle/123456789/135245 |
| citation_txt |
Mossbauer analysis of the structure Fe-Ni-C alloys after heat and ultrasonic treatments / V.M. Nadutov, D.V. Semenov, Ye.O. Svystunov, G.I. Kuzmich // Functional Materials. — 2004. — Т. 11, № 1. — С. 101-107. — Бібліогр.: 15 назв. — англ. |
| series |
Functional Materials |
| work_keys_str_mv |
AT nadutovvm mossbaueranalysisofthestructurefenicalloysafterheatandultrasonictreatments AT semenovdv mossbaueranalysisofthestructurefenicalloysafterheatandultrasonictreatments AT svystunovyeo mossbaueranalysisofthestructurefenicalloysafterheatandultrasonictreatments AT kuzmichgi mossbaueranalysisofthestructurefenicalloysafterheatandultrasonictreatments AT nadutovvm messbauerívsʹkiianalízstrukturifenicsplavívpíslâtermíčnoítaulʹtrazvukovoíobrobok AT semenovdv messbauerívsʹkiianalízstrukturifenicsplavívpíslâtermíčnoítaulʹtrazvukovoíobrobok AT svystunovyeo messbauerívsʹkiianalízstrukturifenicsplavívpíslâtermíčnoítaulʹtrazvukovoíobrobok AT kuzmichgi messbauerívsʹkiianalízstrukturifenicsplavívpíslâtermíčnoítaulʹtrazvukovoíobrobok |
| first_indexed |
2025-12-01T04:08:42Z |
| last_indexed |
2025-12-01T04:08:42Z |
| _version_ |
1850277493425045504 |
| fulltext |
0RVVEDXHU�DQDO\VLV�RI�WKH�VWUXFWXUH�)H±1L±&DOOR\V�DIWHU�KHDW�DQG�XOWUDVRQLF�WUHDWPHQWV
9�0�1DGXWRY��'�9�6HPHQRY��<H�2�6Y\VWXQRY��*�,�.X]PLFK
*�.XUG\XPRY�,QVWLWXWH�IRU�0HWDO�3K\VLFV��1DWLRQDO�$FDGHP\�RI�6FLHQFHVRI�8NUDLQH��������.\LY��8NUDLQH
0RVVEDXHU� VSHFWURVFRS\� KDV� EHHQ� XVHG� IRU� DWRPLF� VFDOH� LQYHVWLJDWLRQ� RI� DXVWHQLWLF)H±1L±&� DOOR\V� DIWHU� XOWUDVRQLF� DQG� ORZ�IUHTXHQF\� LPSDFW� VXUIDFH� WUHDWPHQWV�� 7KH� SKDVHFRPSRVLWLRQ� DQG� K\SHUILQH� VWUXFWXUH� RI� WKH� )HÜ������1LÜ�����& DQG� )HÜ������1LÜ������&�DOOR\V�ZLWK�WKH�I�F�F��ODWWLFH�DIWHU�DQQHDOLQJ�DW������.�DQG�����.�LQ�YDFXXP�DQGIROORZLQJ� XOWUDVRQLF� VXUIDFH� WUHDWPHQW� �867�� I ��Ü��N+]�� WKH�DPSOLWXGH����µP�� W ��Ü���V��KDYH�EHHQ�VWXGLHG��7KH�UHVXOWV�ZHUH�DQDO\]HG�LQ�FRPSDULVRQ�ZLWK�WKH�ORZ�IUHTXHQF\LPSDFW� VXUIDFH� WUHDWPHQW� �,67��RI� WKH� DOOR\V��7KH�PLFURKDUGQHVV�RI� WKH� DOOR\V� DIWHU�867KDV�EHHQ�DQDO\]HG�
l˰°È�ª¯ºm°}È«�°¹Ë}�¯º°}º¹Ò«�Ò°¹ºã ϺmÈÓÈ��ã«�Ò°°ãË�ºmÈÓÒ«�ÓÈ�È�ºäÓºä��¯ºmÓËÈ�°�ËÓÒ�Ó©²�)H±1L±& °¹ãÈmºm�¹º°ãË��ã �¯ÈÏm�}ºmº®�Ò�ÓÒÏ}º�Ȱ�º�Óº®���ȯӺ®�¹ºm˯²�Óº°�Óº®�º¯Èº�º}��jÏ��ËÓ�ÁÈϺm©®�°º°�Èm�Ò�°m˯²�ºÓ}È«�°�¯�}��¯È��¡z�°¹ãÈmºm�)HÜ������1LÜ�����& Ò�)HÜ������1LÜ������& ¹º°ãË�ÓÈ�¯ËmÈ��º������z�Ò�����z�m�mÈ}��äËÒ� ¹º°ãË��
�Ë®� ��ȯӺ®� �ã �¯ÈÏm�}ºmº®� º¯Èº�}Ò� ��~|��� I ��Ü��}���� Èä¹ãÒ���È���ä}ä�� W ��Ü���°��cËÏ�ã �È�©�¹¯ºÈÓÈãÒÏÒ¯ºmÈÓ©�m�°¯ÈmÓËÓÒÒ�°�mãÒ«ÓÒËä�ÓÒÏ}º�Ȱ�º��Óº®� ��ȯӺ®� ¹ºm˯²Óº°�Óº®� º¯Èº�}Ò� ���|�� °¹ãÈmºm�� �º°ãË� �~|� ¹¯ºÈÓÈãÒÏÒ¯ºmÈÓÈäÒ}¯º�m˯�º°� °¹ãÈmºm�
7KH� XOWUDVRQLF� VXUIDFH� WUHDWPHQW� �867�LV� DQ� HIIHFWLYH�PHWKRG� LPSURYLQJ�PHFKDQL �FDO� SURSHUWLHV� DQG� SHUIRUPDQFH� FKDUDF �WHULVWLFV� RI� PHWDO� SURGXFWV�� 7KH� KDUGHQLQJLV� DVVRFLDWHG� ZLWK� VSHFLDO� GHIHFW� VWUXFWXUHIRUPHG�XQGHU� WKH�867� UHVXOWLQJ� LQ� DQRPD �ORXV�GLIIXVLRQ�RI�DWRPV�DQG�SKDVH�WUDQVIRU �PDWLRQV� >�@�� $� SRZHU� XOWUDVRQLFV� SURGXFHVGHIHFWV�RI�FU\VWDO�VWUXFWXUH�ZLWK�WKH�GHQVLW\GLIIHUHQW� IURP� WKDW� DIWHU� UROOLQJ� RU� LPSDFWORZ�IUHTXHQF\�WUHDWPHQW��,67���7KH�HOHFWURQPLFURVFRS\�RI�PHWDO�VDPSOHV�DIWHU�867�KDVVKRZQ�WKH�LQFUHDVHG��E\����RUGHUV��GHQVLW\RI� GLVORFDWLRQV� DQG�PRUH� KRPRJHQHRXV� GLV �WULEXWLRQ�RI�WKHVH�GHIHFWV�LQ�WKH�VXUIDFH�OD\ �HUV�>�@��0RUHRYHU��WKH�KLJK�FRQFHQWUDWLRQ�RIYDFDQFLHV� DULVLQJ� XQGHU� WKH� KLJK�VSHHG� GH �IRUPDWLRQ� LV� FRQVLGHUHG� LQ� >�@� DV� D� UHDVRQIRU�WKH�QRQ�FRQVHUYDWLYH�PRYHPHQW�RI�GLVOR �FDWLRQV��7KH�DQRPDORXV�PDVV�WUDQVIHU�LV�H[ �SODLQHG� E\� KLJK� FRQFHQWUDWLRQ� RI� YDFDQFLHVDQG� LQWHUVWLWLDO� DWRPV� XQGHU� WKH� KLJK�VSHHGLPSDFW�SXOVH�ORDGLQJ�RI�PHWDO�VXUIDFH�DV�FRP �SDUHG�WR�WKH�ORZ�VSHHG�GHIRUPDWLRQ�>�@�
7KH�867�HIIHFW�RQ�VWUXFWXUH�DQG�SURSHU �WLHV� RI�PHWDO� VXUIDFH� ZDV� VWXGLHG� LQ� GHWDLOE\� VWUXFWXUDO�PHWKRGV�DQG�PHFKDQLFDO� WHVW �LQJ� >�@�� 1R� GHWDLOHG� DWRPLF� VFDOH� VWXG\� RIWKH� DERYH�PHQWLRQHG� SURFHVVHV� XVLQJ�0RVV �EDXHU�VSHFWURVFRS\�ZDV�FDUULHG�RXW��:H�DV �VXPH� WKDW� WKH� DQRPDORXV� PDVV� WUDQVIHUXQGHU�WKH�867�VKRXOG�IROORZ�UHGLVWULEXWLRQRI� DWRPV� LQ� WKH� FU\VWDO� ODWWLFH� WKDW�PD\�EHGHPRQVWUDWHG� LQ� 0RVVEDXHU� VSHFWUD�� 7KHPDLQ� JRDO� RI� WKLV� ZRUN� ZDV� WR� UHYHDOFKDQJHV�LQ�SKDVH�FRPSRVLWLRQ�DQG�K\SHUILQHVWUXFWXUH� RI� WKH� DXVWHQLWLF� )H±1L±& DOOR\VDIWHU� WKH�867� E\�PHDQV� RI�0RVVEDXHU� VSHF �WURVFRS\�LQ�FRPSDULVRQ�WR�WKH�GDWD�UHODWLQJ�WRWKH�VDPSOHV�DIWHU�WKH�,67��7KH�I�F�F�� )H±1L±&DOOR\V� XQGHU� VWXG\� DUH� RI� LQGXVWULDO� LQWHUHVWDV� WKH� EDVLV� RI� ,QYDU� PDWHULDOV� DQG� WKHLUKDUGHQLQJ�LV�RQH�RI�WKH�PDLQ�WDVNV��7KH�REMHFWV� RI� WKLV� VWXG\�ZHUH� WKH� I�F�F�)H±1L±& DOOR\V�RI�WKH�FKHPLFDO�FRPSRVLWLRQVOLVWHG�LQ�7DEOH����7KH�DOOR\V�ZHUH�PHOWHG�LQWKH�YDFXXP�LQGXFWLRQ�IXUQDFH�XQGHU�SURWHF �WLYH� DUJRQ� DWPRVSKHUH�� 7KH� FDUERQ� FRQFHQ �
)XQFWLRQDO�0DWHULDOV�����1R��������� ��������,QVWLWXWH�IRU�6LQJOH�&U\VWDOV
)XQFWLRQDO�PDWHULDOV������������� ���
WUDWLRQ�ZDV�GHWHUPLQHG�E\�FKHPLFDO�DQDO\VLVDQG� WKH�1L FRQWHQW�ZDV�PHDVXUHG� E\�;�UD\IOXRUHVFHQFH� PHWKRG�� $IWHU� VXUIDFH� FOHDQ �LQJ��WKH�LQJRWV�ZHUH�DJHG�DW������.�LQ�YDF �XXP� GXULQJ� �� K�� 7KH� �� PP� WKLFN� PHWDOSODWHV� ZHUH� PHFKDQLFDOO\� SROLVKHG� RQ� DEUD �VLYH� PDWHULDO� DQG� FKHPLFDOO\� WKLQQHG�� 7KHVDPSOHV� IRU� 0RVVEDXHU� VSHFWURVFRS\� ZHUHWKH� ��Ü��� µP� WKLFN� IRLOV� DQQHDOHG� DW�����.�GXULQJ����PLQ�DQG�TXHQFKHG�LQ�RLO�7KH� )H±������1LÜ������& DOOR\� DIWHU� DQ�QHDOLQJ� DW� ����� .� ZDV� DJHG� DW� ���� .� LQYDFXXP�GXULQJ���K��7KH�SKDVH�FRPSRVLWLRQZDV�H[DPLQHG�E\�;�UD\�GLIIUDFWLRQ��7KH�DO �OR\V�ZHUH� LQ� DXVWHQLWLF� VWDWH� DIWHU� WKH�KHDWWUHDWPHQW�� 7KH� PLFURKDUGQHVV� ZDV� PHDV �XUHG� RQ� �� PP� WKLFN� SODWHV� RI� WKH� DOOR\VXVLQJ�VWDQGDUG�HTXLSPHQW�7KH�PHFKDQLFDO�VXUIDFH�WUHDWPHQW�RI�WKHDOOR\V� ZDV� FDUULHG� RXW� XVLQJ� WZR� PHWKRGV�WKH� SRZHU� XOWUDVRQLFV� �867� DQG� LPSDFW� ORZ�IUHTXHQF\� WUHDWPHQW� �,67��� 7KH� IUHTXHQF\�RIXOWUDVRQLF�JHQHUDWRU�ZDV� I ����N+]��WKH�IUH�TXHQF\� RI�PDJQHWRVWULFWRU� ZDV� I ��Ü��N+]�WKH� YLEUDWLRQ� DPSOLWXGH� ZDV� ��� µP�� 7KHIRLOV�ZHUH� WUHDWHG� LQ� YDFXXP� FKDPEHU� GXU �LQJ� �� V�� 7KH�0RVVEDXHU� VSHFWUD� DQG�PLFUR �KDUGQHVV�ZHUH�PHDVXUHG�DQG� WKHQ� WKH� VDP �SOHV� ZHUH� WUHDWHG� DJDLQ� IRU� �� V�� 7KH� WHP �SHUDWXUH� ZDV� FRQWUROOHG� GXULQJ� SURFHVVLQJDQG� IRXQG� WR� UHPDLQ� XQFKDQJHG� IRU� �� VZKLOH� LWV� LQFUHDVH� WR� ���� .� ZDV� REVHUYHGGXULQJ� WKH� WUHDWPHQW� IRU� ���� PLQ�� ,Q� WKH,67�� WKH� IUHTXHQF\� RI� LPSDFW� ZDV� I ����� +]�� 7KH� KDPPHU� PDVV� ZDV� ��� J�� WKHGURS�KHLJKW����FP��7KH�,67�ZDV�FDUULHG�RXWLQ� DLU� IRU� ���� WR� �� K�� 7KH� GLIIHUHQFH� EH �WZHHQ� WZR� WUHDWPHQW�PHWKRGV� LV� DVVRFLDWHGZLWK� GLIIHUHQW� SRZHU� WUDQVPLWWHG� E\� PHWDOFDS� WR� WKH� VDPSOH� VXUIDFH�� ��� -�V� DW� 867�Ü��N+]�DQG������-�V�IRU�,67�7KH�WUDQVPLVVLRQ�0RVVEDXHU�VSHFWUD�ZHUHPHDVXUHG�RQ�06����(�VSHFWURPHWHU��5RVWRYQD� 'RQX�� DW� URRP� WHPSHUDWXUH�� 7KH� ��&RLVRWRSH�LQ�&U PDWUL[�ZDV�XVHG�DV�JDPPD�UD�GLDWLRQ�VRXUFH��7KH�VSHFWUD�ZHUH�VWRUHG�LQ�DPXOWLFKDQQHO� VFDOHU� ZLWK� ���� FKDQQHOV� DQGILWWHG� DFFRUGLQJ� WR� OHDVW� VTXDUH� ILW� URXWLQHE\� /RUHQW]� OLQHV�� 7KH�:LQGRZ�PHWKRG�ZDV
DSSOLHG� WR� DSSUR[LPDWH� VPHDUHG� VSHFWUDZLWK� EURDGHQHG� OLQHV� >�@�� 7KH� YHORFLW\� FDOL �EUDWLRQ�ZDV�SHUIRUPHG�DW�URRP�WHPSHUDWXUHZLWK�D�αÜ)H IRLO��7KH�DFFXUDF\�RI�WKH�YHORF �LW\�PHDVXUHPHQWV�ZDV�������PP�V��0RVVEDXHU�VSHFWUD�RI�WKH�DOOR\V�DIWHU�DQ �QHDOLQJ� DQG� PHFKDQLFDO� WUHDWPHQW� DUHVKRZQ� LQ� )LJ����� )LJ���� DQG� WKH� K\SHUILQHSDUDPHWHUV� DUH� OLVWHG� LQ� 7DEOH���� 7KH� VSHF �WUXP�RI�WKH�)HÜ������1LÜ������& DOOR\�LQLQLWLDO�VWDWH�LV�W\SLFDO�RI�VXFK�D�FRPSRVLWLRQDQG� FRQVLVWV� RI� EURDGHQHG� VLQJOHW� DQG� GRX �EOHW�� 7KH� EURDGHQHG� FHQWUDO� OLQH�ZDV� ILWWHGE\�VH[WHW�ZLWK�ORZ�K\SHUILQH�PDJQHWLF�ILHOG+� ��������7DEOH����IROORZLQJ�WKH�DSSURDFKFRQVLGHUHG�LQ�>�@��$V�GHWHUPLQHG�LQ�>�@��WKHVLQJOHW� �� LQ� 0RVVEDXHU� VSHFWUD� RI� WKHDXVWHQLWLF� )H±1L±& DOOR\V� FRQWDLQLQJ� DS�SUR[LPDWHO\� ��� �� 1L LV� DWWULEXWHG� WR� )HDWRPV�ZLWK�QR�FDUERQ�QHDUHVW�QHLJKERUV��QQ��)H��� DQG� WKH� GRXEOHW� �� LV� UHODWHG� WR� )HDWRPV�ZLWK�RQH�RU�WZR�FDUERQ�QQ��)H&��7KH� VSHFWUD� IRU� VDPSOHV� DQQHDOHG� DW����� .� DQG� DJHG� DW� ���� .� DUH� VLPLODU� LQVKDSH� DQG� D� VPDOO� GHFUHDVH� RI� LQWHQVLW\� RIWKH� GRXEOHW� �� DIWHU� DJHLQJ� ZDV� REVHUYHG�7KH�GHFUHDVH�RI�WKH�GRXEOHW�LQWHQVLW\�SRLQWVWR� FOXVWHULQJ� RI� LQWHUVWLWLDO� DWRPV� LQDXVWHQLWH��1RWH�WKDW�QHZ�OLQHV�ZLWK�TXDGUX �SROH� VSOLWWLQJ� ODJJHG� WZLFH� WKDQ�IRU�FRPSR �QHQW� �� ZHUH� QRW� GHWHFWHG� LQ� WKH� VSHFWUXP�
7DEOH���� 7KH� FKHPLFDO� FRPSRVLWLRQ� RI� WKHDOOR\V $OOR\ 1LPDVV��� &PDVV��� )HPDVV���
)H������1L�����& ���� ��� ����)H������1L������& ���� ���� �����
)LJ����� 0RVVEDXHU� VSHFWUD� RI� WKH� )H������1L������& DOOR\� DIWHU� DJHLQJ� DW����.�DQG�867�IRU���V��D������V��E������V��F��
9�0�1DGXWRY�HW�DO����0RVVEDXHU�DQDO\VLV�RI�WKH����
��� )XQFWLRQDO�PDWHULDOV�������������
7KLV�PHDQV� WKDW�DWRPLF�RUGHULQJ�DV� )H�1L&LQ�WKH�DOOR\�GRHV�QRW�RFFXU�DIWHU�DJLQJ��7KHVWUXFWXUH� RI� WKH� )HÜ������1LÜ������&DOOR\� VSHFWUD� ZDV� QRW� FKDQJHG� DIWHU� 867GXULQJ���V��)LJ�����D���KRZHYHU��WKH�GRXEOHW��LQWHQVLW\�ZDV�GHFUHDVHG��7DEOH�����7KH�LQ �FUHDVLQJ� SURFHVVLQJ� WLPH� WR� ��� V� DQG� ��� VUHVXOWHG�LQ�WKH�GHFUHDVH�RI�WRWDO�DUHD�XQGHUWKH� GRXEOHW� E\� DSSUR[LPDWHO\� ��� ��� 1RRWKHU� VXEVSHFWUD� ZKLFK� FRXOG� EH� DWWULEXWHGWR� VWUXFWXUDO� WUDQVIRUPDWLRQV�RU�DWRPLF�RU �GHULQJ�ZHUH�UHYHDOHG�7KH�UHGXFWLRQ�RI�WKH�GRXEOHW�LQWHQVLW\�LQWKH� VSHFWUXP� DIWHU� 867� LV� DVVRFLDWHG� ZLWKWKH� GHFUHDVHG� UHODWLYH� QXPEHU� RI� )H DWRPVKDYLQJ� RQH� RU� WZR� & QQ� DQG� FRXOG� EH� H[�SODLQHG� DV� IROORZV�� 7KH� JHQHUDWLRQ� RI� WKHFU\VWDO�VWUXFWXUH�GHIHFWV�E\�SRZHU�XOWUDVRQ �LFV� LQFUHDVHV� WKH� PRELOLW\� RI� LQWHUVWLWLDODWRPV�UHVXOWLQJ� LQ�WKHLU�FOXVWHULQJ��7KH� &±& SDLUV� LQ� WKH� )H±1L±& DXVWHQLWH� ZHUH� UH�YHDOHG�LQ�>�@�DQG�H[SODLQHG�E\�WKH�VRIW� &±&UHSXOVLRQ� LQ� WKH� ILUVW� DQG� VHFRQG� FRRUGLQD �WLRQ� VKHOOV� >����@�� ,Q� DGGLWLRQ�� WKH� LQWHUDF �WLRQ�RI�LQWHUVWLWLDO�DWRPV�ZLWK�YDFDQFLHV�DQGGLVORFDWLRQV� SURGXFH� VHJUHJDWLRQV� WKDW� PD\GHFUHDVH�WKH�QXPEHU�RI�)H& DWRPV��
)LJ����� 0RVVEDXHU� VSHFWUD� RI� WKH� )H������1L������& DOOR\�DIWHU�DJHLQJ�DW�����.DQG�,67�IRU�����K��D�����K��E�����K��F��
7DEOH����7KH�SDUDPHWHUV�RI�0RVVEDXHU�VSHFWUD
$OOR\ 7UHDWPHQW 6XEVSHFWUXP δL��PP�V
±����� ∆L��PP�V
±����� +L��7 ±��� ΓL�����PP�V
±����� 6L�∑6L����±���
)H������1L������&
$JHLQJ������.����K )H2 Ü����� ���� ���� ����� �����)H& ����� ����� Ü ����� �����867����V )H2 Ü����� ���� ���� ����� �����)H& ����� ����� Ü ����� �����867�����V )H2 Ü����� ���� ���� ����� �����)H& ����� ����� Ü ����� �����867�����V )H2 Ü����� ���� ���� ����� �����)H& ����� ����� Ü ����� �����)HÜ������1LÜ������&
,67������K )H2 Ü����� ���� ���� ����� �����)H& ����� ����� Ü ����� �����,67����K )H2 Ü����� ���� ���� ����� �����)H& ����� ����� Ü ����� �����,67����K )H2 Ü����� ���� ���� ����� �����)H& Ü����� ����� Ü ����� �����)H)H ����� Ü����� ���� ����� �����
9�0�1DGXWRY�HW�DO����0RVVEDXHU�DQDO\VLV�RI�WKH����
)XQFWLRQDO�PDWHULDOV������������� ���
$QRWKHU� SLFWXUH� LV� REVHUYHG� XQGHU� WKHWUHDWPHQW� RI� WKH� )H������1L������&DOOR\� IRLO� E\� ORZ�IUHTXHQF\� ,67�� 7KH� VSHF �WUXP�VKDSH�GHSHQGV�FRQVLGHUDEO\�RQ�WKH�,67GXUDWLRQ� �)LJ������ 7KH� LQWHQVLW\� RI� GRXEOHWGHFUHDVHG�E\������DIWHU�WKH�����K�RI�,67�DVFRPSDUHG� WR� DJHG� VWDWH� DQG� WKLV� HIIHFW� LVVLPLODU�WR�WKH�UHVXOW�GHULYHG�IURP�IRLO�DIWHU867� �7DEOH����� 6XFK� D� FKDQJH� UHVXOWV� IURPIRUPDWLRQ�RI�FDUERQ�VHJUHJDWLRQV�RQ�GLVORFD �WLRQV� DULVHQ� XQGHU� WKH� ,67�� ZKLFK� FRQWULE �XWHG� LQWR� EDFNJURXQG� DQG� ZHUH� QRW� VHSD �UDWHG�LQ�WKH�VSHFWUXP�7KH� ,67� GXULQJ� �� K� GLG� QRW� SULQFLSDOO\FKDQJH� WKH� GRXEOHW� LQWHQVLW\�� KRZHYHU�� WKHWUDFHV�RI�WKH�VH[WHW�OLQHV�DUH�DSSHDUHG�WKDW�LQ�RXU�RSLQLRQ��FRUUHVSRQGV�WR�WKH�PDUWHQVL �WLF�SKDVH��)LJ���E���,Q�IDFW��WKH�,67�IRU���KUHVXOWV� LQ� LQFUHDVHG� LQWHQVLW\� RI� WKLV� VXE �VSHFWUXP�ZLWK�WKH�PDJQHWLF�ILHOG�RI������7�)LJ���F��� 7KLV� ILHOG� FRUUHVSRQGV� WR� LURQDWRPV� LQ� PDUWHQVLWH� >����@�� 7KH� DPRXQW� RIPDUWHQVLWLF� SKDVH� HVWLPDWHG� IURP� WKH� VH[WHWLQWHQVLW\�ZDV� DSSUR[LPDWHO\������ �7DEOH����$WWHPSWV�WR� LQFUHDVH�WKH�,67�GXUDWLRQ�RYHU�� KU� UHVXOWV� LQ� GDPDJH� RI� IRLO� GXH� WR� WKHKHDY\�FROG�ZRUN�DQG�DSSHDUDQFH�RI�PDUWHQ �VLWLF�SKDVH�7KH�HVWLPDWLRQV�VKRZ�WKDW�WKH�WRWDO�QXP �EHU�RI�LPSDFWV�LV�1,67 �������IRU���K�,67DQG�1867 �������IRU����V�867��7KXV��WKH
PDUWHQVLWH� WUDQVIRUPDWLRQ� LQ� WKH)H������1L������& DOOR\� LQGXFHG� E\,67� RFFXUV� DW� URRP� WHPSHUDWXUH�� ZKLFK� LVKLJKHU� WKDQ� PDUWHQVLWLF� SRLQW� lV�� 7KH� HI�IHFW� RI� VWUDLQ� DQG� VWUHVVHV� RQ� PDUWHQVLWLFWUDQVIRUPDWLRQ� ZDV� FRQVLGHUHG� LQ� GHWDLO� E\*�%�2OVRQ� DQG� 0�-�&RKHQ� >��@� DQG� GH �VFULEHG� E\� *�9�.XUG\XPRY� >��@�� $V� LW� KDVEHHQ� VKRZQ�� WKH� VWUHVVHV� IDYRU� WKH� IRUPD �WLRQ�RI�PDUWHQVLWH�LQ�PLFUR�DUHDV�ZKHUH�WKHPDUWHQVLWLF� QXFOHL�ZRXOG� EH� DSSHDUHG� VSRQ �WDQHRXVO\� XQGHU� FRROLQJ� ZLWKRXW� VWUHVVHV�7KH� GHIRUPDWLRQ� FUHDWHV� QHZ� DUHDV� IRU� DS �SHDUDQFH�RI�WKH�QXFOHL��7KH�EORFNLQJ�RI�GLV �ORFDWLRQV�ZLWK�FDUERQ�DQG�PDUWHQVLWLF�SKDVHKDUGHQV� FRQVLGHUDEO\� WKH� DOOR\� UHVXOWLQJ� LQORFDOL]DWLRQ� RI� VWUDLQ� DV� WKH� ,67� GXUDWLRQLQFUHDVHV� DQG� ILQDOO\� GDPDJLQJ� WKH� DOOR\WKDW�ZDV�REVHUYHG��8QOLNH�WKH�,67��WKH�867GRHV� QRW� FKDQJH� WKH� SKDVH� FRPSRVLWLRQ� RIWKH� )H������1L������& DOOR\� DQG� GRHVQRW�GDPDJH�WKH�IRLO��:H�DVVXPH�WKDW�WKLV�LVFDXVHG�E\�PRUH�KRPRJHQHRXV�GLVWULEXWLRQ�RIFU\VWDO� VWUXFWXUH� GHIHFWV� DIWHU� 867� WKDQDIWHU� ,67� DQG� WKH� DEVHQFH� RI� WKH� VWUDLQ� OR �FDOL]DWLRQ�,Q� RUGHU� WR� FKHFN� WKLV� DVVXPSWLRQ�� ZHVWXGLHG� WKH�867� DQG� ,67� HIIHFW� RQ� WKH�PL �FURKDUGQHVV�� SKDVH�FRPSRVLWLRQ��DQG�K\SHU �ILQH� LQWHUDFWLRQV� LQ� WKH� )H������1L�����& DOOR\�ZLWK�KLJK�& DQG�1L FRQFHQWUD�
+L��LV�WKH�K\SHUILQH�PDJQHWLF�ILHOG��δL��WKH�LVRPHU�VKLIW�ZLWK�UHVSHFW�WR�αÜ)H��∆L��WKH�TXDGUXSROHVSOLWWLQJ��ΓL�����WKH�OLQH�ZLGWK��6L�∑ 6L��WKH�UHODWLYH�LQWHJUDO�LQWHQVLW\�RI� L VXEVSHFWUXP��
9�0�1DGXWRY�HW�DO����0RVVEDXHU�DQDO\VLV�RI�WKH����
��� )XQFWLRQDO�PDWHULDOV�������������
WLRQV��7KH� FKRLFH� RI� WKLV� FRPSRVLWLRQ� LV�DV �VRFLDWHG� ZLWK� WKH� IDFW� WKDW� WKH� K\SHUILQHPDJQHWLF� VWUXFWXUH� LV� FRQVLGHUDEO\� GHYHO �RSHG� LQ� WKLV� DOOR\� >������@� ZKLFK� FRXOG� EHFKDQJHG�XQGHU�WKH�867�DQG�,67��0RUHRYHU�WKH� PDUWHQVLWLF� SRLQW� GHFUHDVHV� EHORZ� WKHOLTXLG�QLWURJHQ�WHPSHUDWXUH�GXH�WR�WKH�KLJK& DQG�1L FRQFHQWUDWLRQ� DQG� WKH�PDUWHQVLWHWUDQVIRUPDWLRQ� GRHV� QRW� RFFXU� XQGHU� FRRO �LQJ�� %HVLGHV�� WKH� KLJKHU� FRQFHQWUDWLRQ� RIFDUERQ� VKRXOG� UHVXOW� LQ� PRUH� HIIHFWLYHVWUDLQ�KDUGHQLQJ�RI�WKH�DOOR\�7KH� 0RVVEDXHU� VSHFWUXP� RI� WKH� )H������1L�����& DOOR\� LQ� LQLWLDO� VWDWHDIWHU� DQQHDOLQJ� DW� ����� z� LV� SUHVHQWHG� LQ)LJ���D�� 7KH� VSHFWUXP� VKDSH� GLIIHUV� IURPWKDW� UHODWLQJ� WR� WKH� )H������1L������&DOOR\� E\� FRQVLGHUDEOH� GHYHORSHG� PDJQHWLFVWUXFWXUH�HYLGHQFLQJ�PDJQHWLF�RUGHULQJ��7KLV
VSHFWUXP� ZDV� DQDO\]HG� E\� WKH� :LQGRZPHWKRG� >�@�� 7KLV�PHDQV� WKDW� WKH� &XULH� WHP�SHUDWXUH� OLHV� DERYH� WKH� URRP� RQH�� 7KH�PDJ �QHWLF� PHDVXUHPHQWV� RI� WKH� )HÜ������1LÜ�����& DOOR\� KDYH� VKRZQ� WKDW� �° �����z>��@� 7KH�PDJQHWLF�RUGHULQJ�LQ�WKH�DOOR\�RF �FXUV�GXH� WR� FDUERQ�GLVVROXWLRQ�DQG� LV� FKDU �DFWHUL]HG�E\� H[LVWLQJ�RI�VWUXFWXUDO�DQG�PDJ�QHWLF� LQKRPRJHQHLWLHV� >��@�� 7KH� GLVWULEXWLRQRI�WKH�K\SHUILQH�PDJQHWLF�ILHOGV�LV�UHODWLYHO\ZLGH� DQG� OLHV� ZLWKLQ� WKH� UDQJH� RI� �Ü��� 7�)LJ���G��7KH�PLFURKDUGQHVV� PHDVXUHPHQWV� RI� WKH)HÜ������1LÜ�����& DOOR\� EHIRUH� DQGDIWHU� 867� KDV� VKRZQ� WKDW� +µ LQFUHDVHVIURP� ����� l3D� ������ z�� WR� ����� 03D�867� IRU� ��� V�� DQG� WR� �����03D� �867� IRU���V�� �)LJ������7KH�GDWD�REWDLQHG�SRLQW�WR�DVXUIDFH�KDUGHQLQJ�WKDW�PD\�EH�DWWULEXWHG�WRWKH� VWUDLQ� KDUGHQLQJ� RU� WR� WKH� PDUWHQVLWLFFRPSRQHQW�DSSHDUDQFH�$V� LV� VKRZQ�� WKH�867�GXULQJ� �� V� FRUUH �VSRQGLQJ� WR� WKH� LPSDFW� QXPEHU� ������ DQGWKH� QH[W� �� V� �WRWDO� ��� V�� GLG� QRW� FRQVLGHU �DEO\� FKDQJH� WKH� K\SHUILQH� PDJQHWLF� VWUXF �WXUH� RI� WKH� VSHFWUD� �)LJ���E�F��� 7KLV� UHVXOWPHDQV� WKDW� WKH� SKDVH� FRPSRVLWLRQ� RI� WKHDOOR\�LV�QRW�FKDQJHG��7KH�GLVWULEXWLRQ�RI�WKHK\SHUILQH� PDJQHWLF� ILHOGV� ZDV� FKDQJHG� RQWKH�KLJK�ILHOG�VLGH��ZKLFK�LV�VKLIWHG�WRZDUGVODUJHU�YDOXHV��)LJ���H�I���6LQFH�D�FRUUHODWLRQH[LVWV� LQ� )H±1L±& DOOR\V� EHWZHHQ� PDJQHWLFRUGHU� DQG� DWRPLF� GLVWULEXWLRQ� >������@�� WKHREVHUYHG�FKDQJH�LQ�S�+��FXUYH�SRLQWV�WR�WKHPRUH� KRPRJHQHRXV� DWRPLF� GLVWULEXWLRQ� LQWKH�VROLG�VROXWLRQ�LQGXFHG�E\�867��,Q� FRQWUDVW�� WKH� 0RVVEDXHU� VSHFWUXP� RIWKH�)HÜ������1LÜ�����& DOOR\�DIWHU�,67�LV
)LJ�����0RVVEDXHU�VSHFWUD�RI�WKH�)H������1L�����& DOOR\�DQG�WKH�GLVWULEXWLRQ�RI�WKH�K\SHUILQHPDJQHWLF�ILHOGV�DIWHU�DJHLQJ�DW������.��D�G��DQG�867�IRU���V��E�H������V��F�I��
)LJ����� 0RVVEDXHU� VSHFWUD� RI� WKH� )H������1L�����&� DOOR\� DQG� WKH� GLVWULEXWLRQRI�WKH�K\SHUILQH�PDJQHWLF�ILHOGV�DIWHU�,67�IRU����K��D�F�����K��E�G��
9�0�1DGXWRY�HW�DO����0RVVEDXHU�DQDO\VLV�RI�WKH����
)XQFWLRQDO�PDWHULDOV������������� ���
FKDQJHG�FRQVLGHUDEO\�DV�FRPSDUHG�WR�LWV�LQ �LWLDO� VWDWH� �)LJ���D��� 7KH� WUHDWPHQW� UHVXOWVLQ� WKH� VSHFWUXP� QDUURZLQJ� HYHQ� IRU� ���� K�)LJ���D��DQG�GHFUHDVLQJ�WKH�PHDQ�PDJQHWLFILHOG� YDOXH� �)LJ���E��� 7KH� UHDVRQ� LV� WKH� UH �GLVWULEXWLRQ� RI� FDUERQ� DWRPV� EHWZHHQ� LQ �GXFHG�GHIHFWV�DQG�VROLG�VROXWLRQ�DQG�WKH�GH �VWUR\LQJ� WKH� VKRUW�UDQJH� DWRPLF� RUGHU�� 7KHQHZ� FRPSRQHQWV� ZDV� DSSHDUHG� LQ� WKH� VSHF �WUXP�DIWHU�,67�GXULQJ���K��)LJ���F��ZLWK�WKHPDJQHWLF�ILHOG�s ����������7DEOH����RI�WKLVVXEVSHFWUXP� FRUUHVSRQGV� WR� PDUWHQVLWLFSKDVH�� 7KH� DGGLWLRQDO� LQWHQVH� KLJK�ILHOGFRPSRQHQW�FRUUHVSRQGLQJ�WR�PDUWHQVLWH��WKHGHFUHDVLQJ�PLGGOH�ILHOG�FRQWULEXWLRQ�DQG�LQ �FUHDVLQJ�WKH�ORZ�ILHOG�FRPSRQHQW�UHODWLQJ�WRDXVWHQLWH�DUH�REVHUYHG�LQ�WKH� S�+�� IXQFWLRQDIWHU� VXFK� D� WUHDWPHQW� �)LJ���G��� 7KHPDUWHQVLWLF� SKDVH� DPRXQW� HVWLPDWHG� IURPLQWHJUDO�LQWHQVLW\�LQ�WKH�S�+��FXUYH�LV�����WKDW�LV�OHVV�E\�WKH�IDFWRU�RI�WZR�WKDQ�IRU�WKH)HÜ������1LÜ������& DOOR\� DIWHU� VXFK� DWUHDWPHQW��7DEOH����7KXV�� WKH� VXUIDFH� ORZ�IUHTXHQF\� GHIRU �PDWLRQ� RI� WKH� DOOR\� KDYLQJ� WKH� PDUWHQVLWHSRLQW�EHORZ�WKH�OLTXLG�QLWURJHQ�WHPSHUDWXUHUHVXOWV� LQ� PDUWHQVLWLF� WUDQVIRUPDWLRQ� HYHQDW� URRP� WHPSHUDWXUH��:H� DVVXPH� WKDW� WKHGLIIHUHQFH� EHWZHHQ� 867� DQG� ,67� LV� DVVRFL �DWHG� ZLWK� GLIIHUHQW� GHIHFW� VWUXFWXUH� DQGZLWK�WKH�HQHUJ\�WUDQVIHUUHG�WR�PHWDO�VDPSOHLQ� WKHVH� WZR� FDVHV�� 7KH� HVWLPDWLRQV� KDYHVKRZQ� WKDW� IRU� �� K� RI� ,67�� WKH� HQHUJ\� LV�����-�ZKLOH�EHLQJ������-�IRU����V�RI�867�7KXV��DV�LV�HVWDEOLVKHG�E\�PHDQV�RI�0RVV �EDXHU� VSHFWURVFRS\�� WKH� 867� DQG� ,67FKDQJH�WKH�K\SHUILQH�PDJQHWLF�VWUXFWXUH� LQI�F�F�� )H±1L±& DOOR\V� UHVXOWLQJ� IURP� UHGLV �WULEXWLRQ�RI� LQWHUVWLWLDO�DWRPV�GXH� WR� LQWHU �DFWLRQ� ZLWK� WKH� FU\VWDO� VWUXFWXUH� GHIHFWV�7KH� 867� LQ� WKH� FRQVLGHUHG� PRGH� GRHV� QRWFKDQJH� WKH� SKDVH� FRPSRVLWLRQ� RI� WKH� DOOR\VDQG� LQFUHDVHV� WKH� PLFURKDUGQHVV� DSSUR[L �PDWHO\� E\� �����GXH� WR� EORFNLQJ� RI� FU\VWDOVWUXFWXUH� GHIHFWV� ZLWK� FDUERQ� DWRPV�� 7KH,67� FDXVHV� ERWK� DWRPLF� UHGLVWULEXWLRQ� DQGPDUWHQVLWLF� WUDQVIRUPDWLRQ� LQ� ERWK� )HÜ������1LÜ������& DQG� )HÜ������1LÜ�����& DOOR\V��7KH�XOWUDVRQLF� WUHDWPHQW� LVPRUH�HIIHFWLYH�PHWKRG�IRU�VWUDLQ�KDUGHQLQJ
RI�I�F�F�� LQWHUVWLWLDO�DOOR\V�WKDQ� LPSDFW�VXU �IDFH� WUHDWPHQW�� WKLV� UHVXOWV� IURP�PRUH� KR �PRJHQHRXV�GLVWULEXWLRQ�RI�FU\VWDO�VWUXFWXUHGHIHFWV�DQG�WKHLU�HIIHFWLYH�EORFNLQJ�ZLWK�LQ �WHUVWLWLDOV�$FNQRZOHGJHPHQW�� 7KLV� ZRUN� ZDV� VXS�SRUWHG� E\� WKH� 6FLHQFH� DQG�7HFKQRORJ\� &HQ �WHU�LQ�8NUDLQH��3URMHFW�������5HIHUHQFHV���$�9�.XO\RPLQ�� 8OWUDVRXQG� DQG� 'LIIXVLRQ� LQ0HWDOV��0HWDOOXUJLD��0RVFRZ���������>LQ�5XV�VLDQ@����$�9�.XO\RPLQ�� 9�9�.RQRQRY�� ,�$�6WHEHONRY�3UREOHP\�3URFKQRVWL������������������/�1�/DULNRY�� LQ�� 0HWDOV�� (OHFWURQV�� /DWWLFH�1DXNRYD�'XPND��.LHY���������S�����>LQ�5XV�VLDQ@����%�:LQGRZ��-��$SSO��3K\V����������������������9�*�*DYULOMXN��9�0�1DGXWRY��)L]��0HWDO��0HW�DOORYHG���������������������9�0�1DGXWRY�� 9�$�7DWDUHQNR�� .�/�7V\QPDQ�LQ�� 3URF���UG ,QW��&RQI��RQ� +LJK� 1LWURJHQ6WHHOV�� HG�� E\� 9�*�*DYULO\XN� DQG9�0�1DGXWRY��.LHY��,QVWLWXWH�IRU�0HWDO�3K\V�LFV���������S��������9�*�%DODQ\XN�� 9�1�%XJDHY�� 9�0�1DGXWRY�$�/�6R]LQRY��3K\V��6WDW��6RO�������E���������������.�8OODNNR�� 9�0�*DYULOMXN�� 9�0�1DGXWRY�$FWD��0HW�����$�����������������9�0�1DGXWRY�� 0DWHULDORYHGHQL\H�� ��� �������������*�%�2OVRQ��0�-�&RKHQ��/HVV�&RPPRQ�0HWDOV��������������������*�9�.XUG\XPRY��7UDQVIRUPDWLRQV�LQ�,URQ�DQG6WHHOV��1DXND��0RVFRZ��������>LQ�5XVVLDQ@�����9�0�*DYULOMXN��9�0�1DGXWRY��)L]��0HWDO��0HW�DOORYHG����������������������9�0�*DYULOMXN��9�0�1DGXWRY��&U\RJHQLFV��������������������9�0�1DGXWRY�� <H�2�6Y\VWXQRY�� 7�9�(ILPRYD�$�9�*RUEDWRY�� LQ�� 0DWHULDO� 5HVHDUFK� LQ$WRPLF�6FDOH�E\�0RVVEDXHU�6SHFWURVFRS\��HG�E\� 0�0DVKODQ�� 0�0LJOLHULQL� DQG� 3�6FKDDI�1$72� 6FL�� 6HULHV�� YRO����� .OXZHU� $FDGHPLF3XEOLVKHUV�� 'RUGUHFKW� �%RVWRQÜ/RQGRQ��� 7KH1HWKHUODQGV� �������� S�����DQG�9�0�1DGXWRY�9�$�7DWDUHQNR�� 6�$�3DQNUDWLHY�� 0HWDOORIL]�1RYHMVKLH�7HNKQRO�����������������������9�0�1DGXWRY�� 9�0�*DUDPXV�� 5�:LOOXPHLW�<H�2�6Y\VWXQRY��0HWDOORIL]��1RYHMVKLH�7HNKQRO�����������������
9�0�1DGXWRY�HW�DO����0RVVEDXHU�DQDO\VLV�RI�WKH����
��� )XQFWLRQDO�PDWHULDOV�������������
l˰°È�˯Lm° }Ò®�ÈÓÈãLÏ�°�¯�}��¯Ò�)H±1L±& °¹ãÈmLm¹L°ã«��˯äL�Óº���È��ã �¯ÈÏm�}ºmº��º¯ºR}
{�l�sÈ���ºm��i�{�vËäËÓºm����|�vmÒ°��Óºm����,�z�Ï äÒ�
l˰°È�˯Lm° }�� °¹Ë}�¯º°}º¹L
mÒ}º¯Ò°�ÈÓº� �ã«� �º°ãL�ÎËÓÓ«� ÓÈ� È�ºäÓºä�� ¯LmÓLÈ�°�ËÓL�ÓÒ²�)H±1L±& °¹ãÈmLm�¹L°ã«��ã �¯ÈÏm�}ºmº���È�ÓÒÏ }º�Ȱ�º�Óº����ȯӺ��¹ºm˯²ÓË�mº��º¯ºº}��{Òm�ËÓº�ÁÈϺmÒ®� °}ãÈ� L�ÓÈ��ºÓ}��°�¯�}��¯���¡z�°¹ãÈmLm�)HÜ������1LÜ�����& �È� )HÜ������1LÜ������& ¹L°ã«� ÓÈ�¯LmÈÓÓ«� �º� ����� z� L� ���� z� �� mÈ}��äL� �ÈÓȰ��¹Óº�� ��ȯӺ�� �ã �¯ÈÏm�}ºmº�� º¯º}Ò� ��~|�� �I ��Ü�� }���� Èä¹ã����È� ��� ä}ä�W ��Ü���°���cËÏ�ã �È�Ò�¹¯ºÈÓÈãLϺmÈÓº���¹º¯LmÓ«ÓÓL�Ï�m¹ãÒmºä�ÓÒÏ }º�Ȱ�º�Óº����ȯ�Óº�� ¹ºm˯²ÓËmº�� º¯º}Ò� ���|�� °¹ãÈmLm�� �L°ã«� �~|� ¹¯ºÈÓÈãLϺmÈÓÈ� äL}¯º�m˯�L°� °¹ãÈmLm�
9�0�1DGXWRY�HW�DO����0RVVEDXHU�DQDO\VLV�RI�WKH����
)XQFWLRQDO�PDWHULDOV������������� ���
|