The effect of dipolar and exchange interactions on the magnetic behaviour o
f sputtered CoFe-Ag(Cu) granular alloys is examined through the study of re
manence curves and Delta M plots as a function of the ferromagnetic volume
content, x(nu), and annealing temperature. As-deposited samples, with eithe
r a random distribution of weakly interacting fine magnetic particles (3 nm
in size) at low x(nu) or with strong dipolar and exchange interactions (le
ading to a long range out-of-plane stripe-like domain structure) at x(nu) g
reater than or equal to 0.25, display negative Delta M values. In the forme
r, this is attributed to dipolar interactions being dominant in a random di
stribution of well separated particles. In the latter, Delta M < 0 is attri
buted to the flux closure between antiparallel neighbouring domains, which
is strongly demagnetizing. Annealing causes phase segregation and particle
growth, while particle clusterization occurs. These facts lead to an increa
se of the direct exchange through the surface of neighbouring grains in the
same particle clusters, at the expense of dipolar interactions, which decr
ease as the clusters become more separated. Consequently, at high x(nu), an
nealed samples display positive Delta M values.