Search results for: European option pricing

Authors: Caleb B. Sagwa, Tobias O. Okeno, Alexander K. Kahi

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Dairy cattle production plays an important role in the Kenyan economy. However, high incidences of mastitis is a major setback to the productivity in this industry. The current dairy cattle breeding objective in Kenya does not include mastitis resistance, mainly because the economic value of mastitis resistance has not been determined. Therefore this study aimed at estimating the economic value of mastitis resistance in dairy cattle in Kenya. Initial input parameters were obtained from literature on dairy cattle production systems in the tropics. Selection index methodology was used to derive the economic value of mastitis resistance. Somatic cell count (SCC) was used an indicator trait for mastitis resistance. The economic value was estimated relative to milk yield (MY). Economic values were assigned to SCC in a selection index such that the overall gain in the breeding goal trait was maximized. The option of estimating the economic value for SCC by equating the response in the trait of interest to its index response was considered. The economic value of mastitis resistance was US $23.64 while maximum response to selection for MY was US $66.01. The findings of this study provide vital information that is a pre-requisite for the inclusion of mastitis resistance in the current dairy cattle breeding goal in Kenya.

Keywords: somatic cell count, milk quality, payment system, breeding goal

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Authors: Marie-Elise Beydon, Daniel Sacristan, Isabel Ruppen

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MB02 (Alymsys®) is a candidate biosimilar to bevacizumab, which was developed against the reference product (RP) Avastin® sourced from both the European Union (EU) and United States (US). MB02 has been extensively characterized comparatively to Avastin® at a physicochemical and biological level using sensitive orthogonal state-of-the-art analytical methods. MB02 has been demonstrated similar to the RP with regard to its primary and higher-order structure, post- and co-translational profiles such as glycosylation, charge, and size variants. Specific focus has been put on the characterization of Fab-related activities, such as binding to VEGF A 165, which directly reflect the bevacizumab mechanism of action. Fc-related functionality was also investigated, including binding to FcRn, which is indicative of antibodies' half-life. The data generated during the analytical similarity assessment demonstrate the high analytical similarity of MB02 to its RP.

Keywords: analytical similarity, bevacizumab, biosimilar, MB02

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Authors: Ringisai Abigail Mawondo-Dhliwayo, Kahilu Kajimo-Shakantu

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Due to financial challenges which governments in general face, it is becoming more difficult for many to continually use their limited resources to undertake infrastructural development. Governments increasingly now need other delivery approaches, in particular, the Public-Private Partnerships which make it possible for the public sector to achieve infrastructural development without incurring any/minimum cost. The literature reviewed outlined that benefits of PPPs include timely delivery of quality projects with cost limits. The methodology utilized for the empirical study comprised six interviews and sixty questionnaires which were undertaken and administered by construction consultants and government officials involved in PPPs projects. The results obtained showed that PPPs are not widely used in Zimbabwe although the need for their use exists. The study also found some challenges which prevent or derail the rate at which PPPs are utilized, of which the primary one was a political influence. It is concluded that despite limitations, PPPs remain the most effective and viable option for the delivery of government projects. The study recommends that policy and framework for the implementation of PPPs be developed. More useful information could have been obtained if final users of PPPs projects were included in the sample for data collection.

Keywords: construction projects, procurement, public private partnerships, public sector

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Authors: Li-hsing Shih, Tzu-hsun Yen

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Because of the long-term commitment to net zero carbon emission, utility companies include more renewable energy supply, which generates electricity with time and weather restrictions. This leads to time-of-use electricity pricing to reflect the actual cost of energy supply. From an end-user point of view, better residential energy management is needed to incorporate the time-of-use prices and assist end users in scheduling their daily use of electricity. This study uses bi-criteria optimization methods to schedule daily energy consumption by minimizing the electricity cost and maximizing the comfort of end users. Different from most previous research, this study schedules users’ activities rather than household appliances to have better measures of users’ comfort/satisfaction. The relation between each activity and the use of different appliances could be defined by users. The comfort level is at the highest when the time and duration of an activity completely meet the user’s expectation, and the comfort level decreases when the time and duration do not meet expectations. A questionnaire survey was conducted to collect data for establishing regression models that describe users’ comfort levels when the execution time and duration of activities are different from user expectations. Six regression models representing the comfort levels for six types of activities were established using the responses to the questionnaire survey. A computer program is developed to evaluate electricity cost and the comfort level for each feasible schedule and then find the non-dominated schedules. The Epsilon constraint method is used to find the optimal schedule out of the non-dominated schedules. A hypothetical case is presented to demonstrate the effectiveness of the proposed approach and the computer program. Using the program, users can obtain the optimal schedule of daily energy consumption by inputting the intended time and duration of activities and the given time-of-use electricity prices.

Keywords: bi-criteria optimization, energy consumption, time-of-use price, scheduling

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Authors: Francisco Alvarado, Luz Ramírez

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Corneal diseases are one of the main causes of visual impairment and affect almost 4 million, and this study assesses the effects of deep anterior lamellar keratoplasty (DALK) with porcine corneal stroma and postoperative topical treatment with tacrolimus in patients with infectious keratitis. No patient was observed with clinical graft rejection. Among the cases: 2 were positive to fungal culture, 2 with Aspergillus and the other 8 cases were confirmed by bacteriological culture. Corneal diseases are one of the main causes of visual impairment and affect almost 4 million. This study assesses the effects of deep anterior lamellar keratoplasty (DALK) with porcine corneal stroma and postoperative topical treatment with tacrolimus in patients with infectious keratitis. Receiver bed diameters ranged from 7.00 to 9.00 mm. No incidents of Descemet's membrane perforation were observed during surgery. During the follow-up period, no corneal graft splitting, IOP increase, or intolerance to tacrolimus were observed. Deep anterior lamellar keratoplasty seems to be the best option to avoid xenograft rejection, and it could help new surgical techniques in humans.

Keywords: ophthalmology, cornea, corneal transplant, xenografts, surgical innovations

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Authors: Cem Isik Dogru, Salih Tekin, Kursad Derinkuyu

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Electric vehicle (EV) carsharing is an alternative method to tackle urban transportation problems. This method can be applied by several options. One of the options is the one-way carsharing, which allow an EV to be taken at a designated location and leaving it on another specified location customer desires. Although it may increase users’ satisfaction, the issues, namely, demand dissatisfaction, relocation of EVs and charging schedules, must be dealt with. Also, excessive electricity has to be stored in batteries of EVs. To cope with aforementioned issues, two-step mixed integer programming (MIP) model is proposed. In first step, the integer programming model is used to determine amount of electricity to be sold to the grid in terms of time periods for extra profit. Determined amounts are provided from the batteries of EVs. Also, this step works in day-ahead electricity markets with forecast of periodical electricity prices. In second step, other MIP model optimizes daily operations of one-way carsharing: charging-discharging schedules, relocation of EVs to serve more demand and renting to maximize the profit of EV fleet owner. Due to complexity of the models, heuristic methods are introduced to attain a feasible solution and different price information scenarios are compared.

Keywords: electric vehicles, forecasting, mixed integer programming, one-way carsharing

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Authors: Ketwadee Madden

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Product or service image is among the vital factors that predict individuals’ choice of buying a product or services, goes to a place or attached to a person. Similarly, in the context of tourism, the destination image is a very important factor to which tourist considers before making their tour destination decisions. In light of this, the objective of this study is to conceptually investigate among French tourists, the determinants of Thailand’s tourism destination image. For this objective to be achieved, prior studies were reviewed, leading to the development of conceptual framework highlighting the determinants of destination image. In addition, this study develops some hypotheses that are to be empirically investigated. Aside these, based on the conceptual findings, suggestions on how to motivate European tourists to chose Thailand as their preferred tourism destination were made.

Keywords: cognitive destination image, affective destination image, motivations, risk perception, word of mouth

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Authors: Esteban Hincapie

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The growing climate change, global warming and population growth have contributed to the energy crisis, aggravated by the generation of organic solid waste, as a material with high energy potential. From the context of waste generation in the Metropolitan Area of the Aburrá Valley, was evaluated the potential of energy content in organic solid waste generated in La Herradura housing complex, through anaerobic digestion process in batch reactors, with mixtures of substrate, water and inoculum 1: 3: 0.2 and 1: 3: 0, reaching a total biogas production of 0,2 m³/Kg y 0,14 m³/Kg respectively, in a period of 38 days under temperature conditions of 24°C. The volume of biogas obtained was equivalent to the monthly consumption of natural gas for 75 apartments or 1.856 Kw of electric power. For the Metropolitan Area of the Aburrá Valley, a production of 7.152Kw of electric power was estimated for a month, from the treatment of 22.319 tons of organic solid waste that would not be taken to the landfill. The results indicate that the treatment of organic waste from anaerobic digestion is a sustainable option to reduce pollution, contribute to the production of alternative energies and improve the efficiency of urban metabolism.

Keywords: alternative energies, anaerobic digestion, solid waste, sustainable construction, urban metabolism, waste management

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Authors: Amjad Naveed

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This study analysed the role of structural change in the process of labour productivity convergence at country and regional levels. Many forms of structural changes occurred within the European Union (EU) countries i.e. variation in sectoral employment share, changes in demand for products, variations in trade patterns and advancement in technology which may have an influence on the process of convergence. Earlier studies on convergence have neglected the role of structural changes which can have resulted in different conclusion on the nature of convergence. The contribution of this study is to examine the role of structural change in testing labour productivity convergence at various levels. For the empirical purpose, the data of 19 EU countries, 259 regions and 6 industries is used for the period of 1991-2009. The results indicate that convergence varies across regional and country levels for different industries when considered the role of structural change.

Keywords: labor produvitivty, convergence, structural change, panel unit root

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Authors: Yakup Uslu

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The purpose of this study is to reveal how the Turkish soap operas effect the image of Turkey in the Middle Europe. In last decades, Turkish soap operas have been shown on TV in the middle European countries. A research based on face to face questioning was done in February and June 2014 in Slovakia and the Czech Republic. The participants were seven women and six men from the Czech Republic, 8 women and 6 men from Slovakia. According to results of the research, the Turkish image has been changed substantially after broadcasting the soap operas. In general, the Turkish soap operas have had positive effects on the image of Turkey. The other result of the study shows that most of the people in Slovakia and Czech Republic want to come to Turkey as tourists and want to visit the places where the soap operas have been shooted.

Keywords: Turkish soap operas, image of Turkey, Slovakia, Czech Republic

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Authors: Maciej Kozlowski, Agnieszka Piotrowska-Piatek

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Purpose: This article analyses the most important financial participation programmes (FPP) in Poland to show the relationship between the programmes applied and the socio-economic results of enterprises and assesses the impact of participation on these results and the impact of selected factors on the introduction of FPP. Methodology: The research has been based on a questionnaire answered by senior management of listed Polish companies that had at least one out of three major FPPs in operation, namely share ownership, profit-sharing, or a stock option scheme. Findings: The results of the empirical study conducted indicate the existence of some peculiar relationships. The vast majority of schemes in Polish public companies are aimed at the participation of the management personnel; these programmes are narrow-based (only for management) and rather hermetic, with a high concentration of stocks or shares in the hands of the management. Conclusion: FPPs generally have a positive influence on enterprise functioning. However, the effects are more social than economic (no significant economic improvement after programme implementation). The paper contributes to the debate about financial participation and suggests actions to popularize these programmes on a wider scale.

Keywords: financial participation, profit sharing, stock options, worker attitude, worker ownership

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Authors: Abdulrahman H. Alrashidi

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Kuwait Oil Company provides health care services through Ahmadi hospital for oil sector employee and their families. Due to increasing number of entitled patients in Ahmadi hospital, the company starts health insurance option in 2010. In addition, a new Ahmadi hospital decided to build to accumulate all entitled patients. Operation and management of new Ahmadi hospital investigated in this research. In order to maintain the high quality of medical services and satisfaction rate among oil sector community and reducing the operation cost. Six operation and management options evaluated in order to implement in new Ahmadi hospital. Qualitative Risk assessment method used to investigate proposed options for operation and management of new Ahmadi hospital. Evaluation criteria consist of quality of medical services, operation cost and satisfaction rate among oil sector community. Results show that using the same operation and management system in existing Ahmadi hospital with new Ahmadi hospital will bring cost higher. This approach brings risk to KOC. Results from risk assessment show that partially operated new Ahmadi hospital is the best opportunity to meet the objectives of KOC’s medical group.

Keywords: Kuwait Oil Company, new Ahmadi hospital, operation and management, risk assessment

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Authors: Muhammad Affan, Muhammad Ilyas Raza, Muhammad Harris Hashmi

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This work is attributed to the battery management unit design of student Satellites under Pakistan National Student Satellite Program (PNSSP). The aim has been to design a customized, low-cost, efficient, reliable and less-complex battery management scheme for the Satellite. Nowadays, Lithium Ion (Li-ion) batteries have become the de-facto standard for remote applications, especially for satellites. Li-ion cells are selected for secondary storage. The design also addresses Li-ion safety requirements by monitoring, balancing and protecting cells for safe and prolonged operation. Accurate voltage measurement of individual cells was the main challenge because all the actions triggered were based on the digital voltage measurement. For this purpose, a resistive-divider network is used to maintain simplicity and cost-effectiveness. To cater the problem of insufficient i/o pins on microcontroller, fast multiplexers and de-multiplexers were used. The discrepancy inherited in the given design is the dissipation of heat due to the dissipative resistors. However, it is still considered to be the optimum adoption, considering the simple and cost-effective nature of the passive balancing technique. Furthermore, it is a completely unique solution, customized to meet specific requirements. However, there is still an option for a more advanced and expensive design.

Keywords: satellite, battery module, passive balancing, dissipative

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Authors: Fekir Youcef, Mederbal Khalladi, M. A. Hamadouche, D. Anteur

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Algeria is one of the countries that are highly affected by desertification which is the consequence of several factors. For this purpose, there is a need to study this problem by quantitative approaches. In this study, we apply the MEDALUS method (Mediterranean Desertification and Land Use) to a watershed located in Saida town in semi-arid environment in the south west of Algeria. The method is based on sensitive areas identification by making use of the different parameters that may affect the desertification process such as vegetation, soil, climate and management. Spatial analyses are strong tools that allow modelization of each indicator. Results show that according to European standards, a large scale of the watershed falls into critical classes. And therefore, the modelization approach can be an effective way to study and understand the desertification showing an example of the project of the green dam that limits the desertification process to affect the north areas off Algeria.

Keywords: Algeria, desertification, MEDALUS, modelization

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Authors: Charalampos Saridakis, Stelios Tsafarakis

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Although environmental concern is on the rise across Europe, current market data indicate that adoption rates of environmentally friendly vehicles remain extremely low. Against this background, the aim of this paper is to a) assess preferences of European consumers for clean-fuel cars and their characteristics and b) design car lines that optimize the combination of fuel types among models in the line-up. In this direction, the authors introduce a new evolutionary mechanism and implement it to stated-preference data derived from a large-scale choice-based conjoint experiment that measures consumer preferences for various factors affecting clean-fuel vehicle (CFV) adoption. The proposed two-step methodology provides interesting insights into how new and existing fuel-types can be combined in a car line that maximizes customer satisfaction.

Keywords: clean-fuel vehicles, product line design, conjoint analysis, choice experiment, differential evolution

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Authors: Darius Danesh, Michael J. Ryan, Alireza Abbasi

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Project Portfolio Management (PPM) is an essential component of an organisation’s strategic procedures, which requires attention of several factors to envisage a range of long-term outcomes to support strategic project portfolio decisions. To evaluate overall efficiency at the portfolio level, it is essential to identify the functionality of specific projects as well as to aggregate those findings in a mathematically meaningful manner that indicates the strategic significance of the associated projects at a number of levels of abstraction. PPM success is directly associated with the quality of decisions made and poor judgment increases portfolio costs. Hence, various Multi-Criteria Decision Making (MCDM) techniques have been designed and employed to support the decision-making functions. This paper reviews possible option to improve the decision-making outcomes in the organisational portfolio management processes using the Analytic Hierarchy Process (AHP) both from academic and practical perspectives and will examine the usability, certainty and quality of the technique. The results of the study will also provide insight into the technical risk associated with current decision-making model to underpin initiative tracking and strategic portfolio management.

Keywords: analytic hierarchy process, decision support systems, multi-criteria decision making, project portfolio management

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Authors: Stepan Hysek, Premysl Sedivka, Petra Gajdacova

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Currently, structural composite materials contain cellulose-based particles (wood chips, fibers) bonded with synthetic adhesives containing formaldehyde (urea-formaldehyde, melamine-formaldehyde adhesives and others). Formaldehyde is classified as a volatile substance with provable carcinogenic effects on live organisms, and an emphasis has been put on continual reduction of its content in products. One potential solution could be the development of an agglomerated material which does not contain adhesives releasing formaldehyde. A potential alternative to formaldehyde-based adhesives could be polyurethane adhesives containing no formaldehyde. Such adhesives have been increasingly used in applications where a few years ago formaldehyde-based adhesives were the only option. Advantages of polyurethane adhesive in comparison with others in the industry include the high elasticity of the joint, which is able to resist dynamic stress, and resistance to increased humidity and climatic effects. These properties predict polyurethane adhesives to be used in OSB/EPS panel production. The objective of this paper is to develop an adhesive for bonding of sandwich panels made of material based on wood and other materials, e.g. SIP) and optimization of input components in order to obtain an adhesive with required properties suitable for bonding of the given materials without involvement of formaldehyde. It was found that polyurethane recyclate as a filler is suitable modification of polyurethane adhesive and results have clearly revealed that modified adhesive can be used for OSB/EPS panel production.

Keywords: adhesive, polyurethane, recyclate, SIP

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Authors: Hamida Memon

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Rheumatoid arthritis (RA) is a persistent inflammation of the joints caused by an aggressive immune reaction leading to pain, stiffness, and limited function. Abatacept, a selective co-modulator, is a promising option for treatment and may have better safety profiles compared to other interventions. This meta-analysis aims at assessing the effectiveness and safety of abatacept in contrast to various RA treatments such as placebos, biological DMARDs and conventional DMARDs. The analysis assesses how abatacept influences disease activity, pain intensity and overall patient functionality. It weighs the risk factor of abatacept with other drugs such as tocilizumab, with the numbers being lower for abatacept. This meta-analysis aims at assessing the effectiveness and safety of abatacept in contrast to various RA treatments such as placebos, biological DMARDs and conventional DMARDs. The analysis assesses how abatacept influences disease activity, pain intensity and overall patient functionality. It weighs the risk factor of abatacept with other drugs such as tocilizumab, with the numbers being lower for abatacept.

Keywords: Rheumatoid arthritis, abatacept, control group, bone disease

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Authors: Samuele Ghignoli, Valentina de Lorenzi, Gianmarco Ferri, Stefano Luin, Francesco Cardarelli

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Insulin and glucagon are the two essential hormones for maintaining proper blood glucose homeostasis, which is disrupted in Diabetes. A constantly growing research interest has been focused on the study of the subcellular structures involved in hormone secretion, namely insulin- and glucagon-containing granules, and on the mechanisms regulating their behaviour. Yet, while several successful attempts were reported describing the dynamic properties of insulin granules, little is known about their counterparts in α cells, the glucagon-containing granules. To fill this gap, we used αTC1 clone 9 cells as a model of α cells and ZIGIR as a fluorescent Zinc chelator for granule labelling. We started by using spatiotemporal fluorescence correlation spectroscopy in the form of imaging-derived mean square displacement (iMSD) analysis. This afforded quantitative information on the average dynamical and structural properties of glucagon granules having insulin granules as a benchmark. Interestingly, the iMSD sensitivity to average granule size allowed us to confirm that glucagon granules are smaller than insulin ones (~1.4 folds, further validated by STORM imaging). To investigate possible heterogeneities in granule dynamic properties, we moved from correlation spectroscopy to single particle tracking (SPT). We developed a MATLAB script to localize and track single granules with high spatial resolution. This enabled us to classify the glucagon granules, based on their dynamic properties, as ‘blocked’ (i.e., trajectories corresponding to immobile granules), ‘confined/diffusive’ (i.e., trajectories corresponding to slowly moving granules in a defined region of the cell), or ‘drifted’ (i.e., trajectories corresponding to fast-moving granules). In cell-culturing control conditions, results show this average distribution: 32.9 ± 9.3% blocked, 59.6 ± 9.3% conf/diff, and 7.4 ± 3.2% drifted. This benchmarking provided us with a foundation for investigating selected experimental conditions of interest, such as the glucagon-granule relationship with the cytoskeleton. For instance, if Nocodazole (10 μM) is used for microtubule depolymerization, the percentage of drifted motion collapses to 3.5 ± 1.7% while immobile granules increase to 56.0 ± 10.7% (remaining 40.4 ± 10.2% of conf/diff). This result confirms the clear link between glucagon-granule motion and cytoskeleton structures, a first step towards understanding the intracellular behaviour of this subcellular compartment. The information collected might now serve to support future investigations on glucagon granules in physiology and disease. Acknowledgment: This work has received funding from the European Research Council (ERC) under the European Union’s Horizon 2020 research and innovation programme (grant agreement No 866127, project CAPTUR3D).

Keywords: glucagon granules, single particle tracking, correlation spectroscopy, ZIGIR

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Authors: Mohammad H. Ruhipour, Mahdi Goharrokhi, Mahsa Ghasemi, Artadokht Ostadsarayi

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In this paper, we are aiming to study the consequences of chlorine gas leak in direct chlorine gas injection compared to using bleach (sodium hypochlorite), studying the negative effects both on the environment and individuals. This study was performed in the cooling towers of a natural fractioning unit of Bandar-e-IMAM petrochemical plant. Considering that chlorine gas is highly toxic and based on the health regulation, its release into the surrounding environment can be very dangerous for people and even fatal for individuals. We studied performing quantitative studies in the worst cases of event incidence. In addition, studying alternative methods with a lower risk was also on the agenda to select the least likely possible option causing an accident. In this paper chlorine gas release consequences have been evaluated by using PHAST software. Reaching to 10 ppm of chlorine gas concentration was basis of hazardous area determination. The results show that the full chlorine gas line rupture scenario in Pasquill category F, were worst case, and many people could be harmed around cooling towers area because of chlorine gas inhalation.

Keywords: chlorine gas, consequence modeling, cooling towers, direct chlorination, risk assessment, system failure

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Authors: Valentine Ubanako

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This paper investigates a situation that has given rise to a particular kind of variety or category of users of English in Cameroon which I have called here Non-native expatriate English (Users). This paper asserts that Non-expatriates in Cameroon (those who work for native speakers of English) use English in a peculiar manner which is worth investigating. This paper thus looks into the kind of English they use and their attitudes towards other users of different varieties of English and how these non-native expatriates form new identities and try to negotiate social ascendency within a local context. Data for this paper is collected through observation, interviews and questionnaires. Some Cameroonians, especially the educated, believe that they must move to Europe or America, study to a very high level and struggle to be like the white man whereas, the lowly educated (working with native English expatriates), are living their European and American dream in Cameroon among their brothers. Thus, educational attainment is not a necessary criterion for social ascendency.

Keywords: non-native expatriate English, native expatriates, varieties of English, English language, linguistics

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Authors: Mary Titilayo Olowe

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The controversies that trailed the political campaign and eventual choice of Donald Trump as the American president is so great that expectations are high as to what the content of his inaugural speech will portray. Given the fact that language is a dynamic vehicle of expressing intentions, the speech needs to be objectively assessed so as to access its content in the manner intended through the three strands of meaning postulated by the Systemic Functional Grammar (SFG): the ideational, the interpersonal and the textual. The focus of this paper, however, is on the interpersonal meaning which deals with how language exhibits social roles and relationship. This paper, therefore, attempts to analyse President Donald Trump’s inaugural speech to elicit interpersonal meaning in it. The analysis is done from the perspective of mood and modality which are housed in SFG. Results of the mood choice which is basically declarative, reveal an information-centered speech while the high option for the modal verb operator ‘will’ shows president Donald Trump’s ability to establish an equal and reliant relationship with his audience, i.e., the Americans. In conclusion, the appeal of the speech to different levels of Interpersonal meaning is largely responsible for its overall effectiveness. One can, therefore, understand the reason for the massive reaction it generates at the center of global discourse.

Keywords: interpersonal, modality, mood, systemic functional grammar

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Authors: S. L. Tulasi Devi, Shivam Azad

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The primary objective of this study is to analyze the impact of green bond issuance on the stock prices of respective Indian companies. An event study methodology has been employed to study the effect of green bond issuance. For in-depth study and analysis, this paper used different window frames, including 15-15 days, 10-10 days, 7-7days, 6-6 days, and 5-5 days. Further, for better clarity, this paper also used an uneven window period of 7-5 days. The period of study covered all the companies which issued green bonds during the period of 2017-2022; Adani Green Energy, State Bank of India, Power Finance Corporation, Jain Irrigation, and Rural Electrification Corporation, except Indian Renewable Energy Development Agency and Indian Railway Finance Corporation, because of data unavailability. The paper used all three event study methods as discussed in earlier literature; 1) constant return model, 2) market-adjusted model, and 3) capital asset pricing model. For the fruitful comparison between results, the study considered cumulative average return (CAR) and buy and hold average return (BHAR) methodology. For checking the statistical significance, a two-tailed t-statistic has been used. All the statistical calculations have been performed in Microsoft Excel 2016. The study found that all other companies have shown positive returns on the event day except for the State Bank of India. The results demonstrated that constant return model outperformed compared to the market-adjusted model and CAPM. The p-value derived from all the methods has shown an almost insignificant impact of the issuance of green bonds on the stock prices of respective companies. The overall analysis states that there’s not much improvement in the market efficiency of the Indian Stock Markets.

Keywords: green bonds, event study methodology, constant return model, market-adjusted model, CAPM

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Authors: Stephanie Elizabeth Talder

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Art therapy is a field that is growing exponentially with new groundbreaking discoveries that allow for embodying trauma and mental healing. Applied theatre and performance is a continuously growing and developing field that can help people who are struggling to work through traumatic experiences plaguing their life. By using performance, there is an ability to target sensitive topics in a manner that does not lead to re-traumatization. The use of theatre as a healing agent has been going on for centuries, with clear applications beginning in Greek theatre and tragedy. When working with complex mental illness, issues such as PTSD, anxiety, and depression can be managed and worked through. A central component of drama therapy is the connection to community and self. The ability to connect mind-body to stories as well as to other people allows for healing to occur. There is the opportunity for healing through emotional catharsis and community building. Applied theatre in connection to the medical field can allow for there to be a meaningful impact made on mental health. Though there is still a significant amount of progress to be made within the stigmatization of mental health problems, bringing in a varying option that allows for there to be movement and community building possesses a strong ability to impact people in a positive way.

Keywords: applied theatre, drama therapy, art therapy, performance, theatre

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Authors: Ratri A. Benedictus, Felicia M. Yolanda

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Public transport is a crucial issue for capital city in developing country, such as Jakarta. Inadequate number and low quality of public transport services resulting personal vehicles as the main option. As a result, traffic jams are getting worse in Jakarta. The low quality of public transport, particularly buses, compounded by the risk behavior of the driver. Traffic accidents involving public bus in Jakarta were often the case, even result in fatality. The purpose of this study is to get a description of risk behavior among the public bus drivers in Jakarta. 132 bus drivers become respondent of this study. Risky Driving Behavior scale of Dorn were used. Data were analyzed using descriptive statistics. 51.5% of respondents felt often showing risky behavior while on driving. The highest type of risky driving behavior is still using the unsafe bus (62%). Followed by trespass the bus line (30%), over speed (21%), violate the road signs (15%) and driving with unhealthy physical condition (4%). Results of this study suggested that high understanding of the bus drivers on their risk behaviors have not lead to the emergence of safe driving behavior. Therefore, together with technical engineering and instrumentation work intervention over this issue, psychological aspects also need to be considered, such as: risk perception, safety attitude,safety culture, locus of control and Fatalism.

Keywords: bus driver, psychological factors, public transportation, risky driving behavior

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Authors: Mohammad Reza Oftadeh

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The purpose of the article is to describe project objective structure (POS) concept that was developed on research activities and experiences about project management, Balanced Scorecard (BSC) and European Foundation Quality Management Excellence Model (EFQM Excellence Model). Furthermore, this paper tries to define a balanced, systematic, and integrated measurement approach to meet project objectives and project strategic goals based on a process-oriented model. In this paper, POS is suggested in order to measure project performance in the project life cycle. After using the POS model, the project manager can ensure in order to achieve the project objectives on the project charter. This concept can help project managers to implement integrated and balanced monitoring and control project work.

Keywords: project objectives, project performance management, PMBOK, key performance indicators, integration management

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Authors: Enerit Saçdanaku, Idriz Haxhiu

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In this study was monitored the population of the European Pond Turtle, Emys orbicularis (Linnaeus, 1758) in the area of Narta Lagoon, Vlora Bay (Albania), from August to October 2014. A total of 54 individuals of E. orbicularis were studied using different methodologies. Curved Carapace Length (CCL), Plastron Length (PL) and Curved Carapace Width (CCW) were measured for each individual of E. orbicularis and were statistically analyzed. All captured turtles were separated in seven different size–classes based on their carapace length (CCL). Each individual of E. orbicularis was marked by notching the carapace (marginal scutes). Form all individuals captured resulted that 37 were females (68.5%), 14 males (25.9%), 3 juveniles (5.5%), while 18 individuals of E. orbicularis were recaptured for the first and some for the second time.

Keywords: Emys orbicularis, female, juvenile, male, population, size–classes

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Authors: Abdou Khafor Ndiaye

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The article examines clean water and sanitation in Saint-Louis region schools. It finds that 59% have clean water, with disparities between departments, urban/rural areas, and school types. Podor and Dagana lack water due to distance and costs. 70% have sanitation, but rural schools lack it due to low investment. Podor and Dagana suffer the most. Many sanitation facilities need renovation. Wastewater treatment is effective, reducing pollutants and nitrogen, but adjustments are needed for nitrates. Treated water meets Senegalese standards and can be used for irrigation but needs monitoring for strict standards. In conclusion, the wastewater system is good for regions with limited water. Meeting stricter European standards and monitoring for health and environmental standards are needed.

Keywords: water, constructed wetland, sanitation, hygiene

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Authors: Maria Jose Granero Paris, Ana Isabel Jimenez Zarco, Agustin Pablo Alvarez Herranz

Abstract:

In the industrial sector collaboration with suppliers is key to the development of innovations in the field of processes. Access to resources and expertise that are not available in the business, obtaining a cost advantage, or the reduction of the time needed to carry out innovation are some of the benefits associated with the process. However, the success of this collaborative process is compromised, when from the beginning not clearly rules have been established that govern the relationship. Abundant studies developed in the field of innovation emphasize the strategic importance of the concept of “Governance”. Despite this, there have been few papers that have analyzed how the governance process of the relationship must be designed and managed to ensure the success of the collaboration process. The lack of literature in this area responds to the wide diversity of contexts where collaborative processes to innovate take place. Thus, in sectors such as the car industry there is a strong collaborative tradition between manufacturers and suppliers being part of the value chain. In this case, it is common to establish mechanisms and procedures that fix formal and clear objectives to regulate the relationship, and establishes the rights and obligations of each of the parties involved. By contrast, in other sectors, collaborative relationships to innovate are not a common way of working, particularly when their aim is the development of process improvements. It is in this case, it is when the lack of mechanisms to establish and regulate the behavior of those involved, can give rise to conflicts, and the failure of the cooperative relationship. Because of this the present paper analyzes the similarities and differences in the processes of governance in collaboration with suppliers in the European aerospace industry With these ideas in mind, we present research is twofold: Understand the importance of governance as a key element of the success of the collaboration in the development of product and process innovations, Establish the mechanisms and procedures to ensure the proper management of the processes of collaboration. Following the methodology of the case study, we analyze the way in which manufacturers and suppliers cooperate in the development of new products and processes in two industries with different levels of technological intensity and collaborative tradition: the automotive and aerospace. The identification of those elements playing a key role to establish a successful governance and relationship management and the compression of the mechanisms of regulation and control in place at the automotive sector can be use to propose solutions to some of the conflicts that currently arise in aerospace industry. The paper concludes by analyzing the strategic implications for the aerospace industry entails the adoption of some of the practices traditionally used in other industrial sectors. Finally, it is important to highlight that in this paper are presented the first results of a research project currently in progress describing a model of governance that explains the way to manage outsourced services to suppliers in the European aerospace industry, through the analysis of companies in the sector located in Germany, France and Spain.

Keywords: supplier collaboration, supplier relationship governance, innovation management, product innovation, process innovation

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Authors: Syena Moltaji, Stephanie Posa, Sander Hitzig, Amanda Mayo, Heather Baltzer

Abstract:

Purpose: To critically assess deficits following thumb amputation and delineate elements of an ideal thumb prosthesis from the end-user perspective. Methods: This was a qualitative study based on grounded theory. End-user stakeholder groups of thumb amputees and prosthetists were interviewed. Transcripts were reviewed whole first for familiarity. Data coding was then performed by two individual authors. Coded units were grouped by similarity and reviewed to reach a consensus. Codes were then analyzed for emergent themes by each author. A consensus meeting was held with all authors to finalize themes. Results: Three patients with traumatic thumb amputation and eight prosthetists were interviewed. Seven themes emerged. First was the significant impact of losing a thumb, in which codes of functional impact, mental impact, and occupational impact were included. The second theme was the unique nature of each thumb amputee, including goals, readiness for prosthesis, nature of the injury, and insurance. The third emergent theme was cost, surrounding government funding, insurability, and prosthetic pricing. The fourth theme was patient frustration, which included mismatches of prosthetic expectations and realities, activity limitations, and causes of devices abandonment. Themes five and six surrounded the strengths and weaknesses of current prosthetics, respectively. Theme seven was the ideal design for a thumb prosthetic, including abilities, suspension, and materials. Conclusions: Representative data from stakeholders mapped the current status of thumb prosthetics. Preferences for an ideal thumb prosthetic emerged, with suggestions for a simple, durable design. The ability to oppose, grasp and sense pressure was reported as functional priorities. Feasible cost and easy fitting emerged as systemic objectives. This data will be utilized in the development of a sensate thumb prosthetic.

Keywords: smart thumb, thumb prosthetic, sensate prosthetic, amputation

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