Miracle-dz/UniFAR-FTUs huggingface dataset:
Multi-commodity real options analysis of power plant investments: discounting endogenous risk structures

The value of power generation technologies can be derived from the investment cost, the plant’s expected lifetime, and the discounted cash flows, the latter of which typically are a combination of several underlyings, such as the price of fuel, electricity, and CO$$_2$$2. To determine this value, most studies assume predefined, uniform, and constant discount rates, irrespective of the fact that the specific risk strongly varies with the technology concerned and also over time. In order to endogenize the technology-specific risk, we develop a new model that explicitly accounts for the (likewise technology-specific) combination of the underlyings. More specifically, we use a multivariate binomial tree real options approach for analyzing the value of different power plants (gas-fired and coal-fired, with and without carbon capture and storage (CCS); hydro; wind; photovoltaics) and for taking into account technical change. We further investigate the influence of alternative CO$$_2$$2 policies on the plants’ values, modeling the CO$$_2$$2 price in three different ways and for three different carbon price levels (5, 25, 45 €/t$$_\mathrm{CO_2}$$CO2): (1) as a stochastic process (geometric Brownian motion), reflecting the price development in the Emissions Trading Scheme of the European Union (EU ETS); (2) as a (constrained) stochastic process with a price floor, and (3) as a deterministic carbon tax. From the model application, using data from German exchange-based markets and a much-cited pilot study on future energy strategies and scenarios in Germany, we find a strong preference for hard-coal power plants in the low CO$$_2$$2 price scenario ($$P_{2015}=$$P2015= €5) and a low value of waiting in case of using the real options model. For all price scenarios, the value of waiting is much higher for both the CO$$_2$$2 permits with a price floor and the CO$$_2$$2 tax policy. This leads, for the medium and high CO$$_2$$2 price scenario, to a dominance of the CCS power plants. In the high CO$$_2$$2 price scenario ($$P_{2015}=$$P2015= €45), the value of waiting only delays the investment decision in the case of the floored CO$$_2$$2 permit prices. For the two other policies, the model predicts an immediate investment in CCS power plants once the CCS technology becomes commercially available in 2020.
Ownership concentration, ownership composition and the performance of the Kuwaiti listed non-financial firms

Purpose – This paper aims to investigate the relationship between ownership structure (ownership concentration and ownership composition) and firm performance in Kuwaiti non-financial firms. To this end, it examines the relationship between firm performance and ownership concentration to determine whether the impact of this relationship is conditional on the nature of the large shareholders. Design/methodology/approach – First, the relationship between ownership concentration and firm performance was tested using ordinary least squares regressions on 618 observations (103 listed firms) from 2005 to 2010; next, the ownership compositions were classified as institutional, government and individuals (families) and their impact on firm performance examined. Findings – The overall concentration ownership by large shareholders showed no impact on firm performance. However, when the type of shareholders was introduced, only the government and individuals (families) ownership categories influenced firm performanc.
Just green enough: contesting environmental gentrification in Greenpoint, Brooklyn

While sustainability and green urbanism have become buzzwords in urban policy circles, too little analysis has focused on who gets to decide what green looks like. Many visions of the green city seem to have room only for park space, waterfront cafes, and luxury LEED-certified buildings, prompting concern that there is no place in the “sustainable” city for industrial uses and the working class. We will use the case study of Newtown Creek in Brooklyn, New York, to explore how different visions for the green city are enacted through activism and policy-making. Neighbourhood residents and business owners seem to be advocating a strategy we call “just green enough”, in order to achieve environmental remediation without environmental gentrification. Following the crash of both the financial and real estate markets, attempts to construct a sustainable city that is economically diverse and socially just seem to be taking hold. We interrogate how urban sustainability can be used to open up a space for diversity and democracy in the neoliberal city and argue that there is space for interventions that challenge the presumed inevitability of gentrification.
After Sochi 2014: costs and impacts of Russia’s Olympic Games

This paper assesses the outcomes of the 2014 Winter Olympic Games in Sochi, Russia, examining the costs and economic impacts of the event, the prospects for the long-term use of venues and infrastructure, and the attitudes of the global and the Russian population. Total costs were $55 billion, having increased 4.5 times from $12 billion at the time of the bid. Of this total, about $16 billion were sports-related costs. After accounting for inflation, this makes Sochi the second-most expensive Olympics ever in terms of sports-related costs and the most expensive Olympics in terms of cost per event. With a public share of 96.5 percent of funding, the Sochi Games had the highest proportion of public money for any Olympic Games on record. The benefit from this high cost, however, is limited. Extensive construction led to hotel overcapacities, investors defaulted on state-backed loans, and there is no coherent plan for the after use of venues and some of the largest infrastructure projects. As a consequence, the Sochi Olympics will continue to be a burden for the Russian state, with expenses for operation, maintenance, and foregone interest and tax revenue in the order of $1.2 billion per year. The event also did not manage to improve the image of Russia in the world. Among the domestic population, support dropped over the seven years of its implementation, most notably among the local population.
Public Education via Exclusive Territories

It is argued in the literature that, under completely free choice and market competition, the public benefits from education would be underproduced because, although each family will benefit from the social indoctrination of other people's children, it will concentrate on securing primarily private benefits from the schooling of its own. Similarly, it has been contended that, to resolve this free rider problem, education should be supplied on a noncompetitive basis via exclusive territories (zones). This article shows that the full logic of this type of welfare argument calls not for an exclusive public system but for some public and some private schooling for each and every child. Because this supply pattern is not found in the real world, the remaining alternative explanation for the continued supply of public schooling via exclusive territories is the simple presence of rent seekers on the supply side who enjoy monopoly conditions.
Biodiversity–ecosystem functioning relationships in long-term time series and palaeoecological records: deep sea as a test bed

The link between biodiversity and ecosystem functioning (BEF) over long temporal scales is poorly understood. Here, we investigate biological monitoring and palaeoecological records on decadal, centennial and millennial time scales from a BEF framework by using deep sea, soft-sediment environments as a test bed. Results generally show positive BEF relationships, in agreement with BEF studies based on present-day spatial analyses and short-term manipulative experiments. However, the deep-sea BEF relationship is much noisier across longer time scales compared with modern observational studies. We also demonstrate with palaeoecological time-series data that a larger species pool does not enhance ecosystem stability through time, whereas higher abundance as an indicator of higher ecosystem functioning may enhance ecosystem stability. These results suggest that BEF relationships are potentially time scale-dependent. Environmental impacts on biodiversity and ecosystem functioning may be much stronger than biodiversity impacts on ecosystem functioning at long, decadal–millennial, time scales. Longer time scale perspectives, including palaeoecological and ecosystem monitoring data, are critical for predicting future BEF relationships on a rapidly changing planet.
Prescription and transcription errors in multidose-dispensed medications on discharge from hospital: an observational and interventional study.

BACKGROUND Medication errors frequently occur when patients are transferred between health care settings. The main objective of this study was to investigate the frequency, type and severity of prescribing and transcribing errors for drugs dispensed in multidose plastic packs when patients are discharged from the hospital. The secondary objective was to correct identified errors and suggest measures to promote safe prescribing. METHODS The drugs on the patients' multidose drug dispensing (MDD) order sheets and the medication administration records were reconciled prior to the MDD orders being sent to the pharmacy for dispensing. Discrepancies were recorded and the prescribing physician was notified and given the opportunity to change the order. Discrepancies categorized as unintentional and related to the discharge process were subject to further analysis. RESULTS Seventy-two (25%) of the 290 reviewed MDD orders had at least one discharge error. In total, 120 discharge errors were identified, of which 49 (41%) were assessed as being of moderate and three (3%) of major severity. Orders with a higher number of medications and orders from the orthopaedic wards had a significantly higher error rate. CONCLUSION The main purpose of the MDD system is to increase patient safety by reducing medication errors. However, this study shows that prescribing and transcribing errors frequently occur when patients are hospitalized. Because the population enrolled in the MDD system is an elderly, physically vulnerable group with a high number of prescribed drugs, preventive measures to ensure safe prescribing of MDD drugs are warranted.
Distinct Roles of D1 and D5 Dopamine Receptors in Motor Activity and Striatal Synaptic Plasticity

Stimulation of dopamine (DA) receptors in the striatum is essential for voluntary motor activity and for the generation of plasticity at corticostriatal synapses. In the present study, mice lacking DA D1 receptors have been used to investigate the involvement of the D1-like class (D1 and D5) of DA receptors in locomotion and corticostriatal long-term depression (LTD) and long-term potentiation (LTP). Our results suggest that D1 and D5 receptors exert distinct actions on both activity-dependent synaptic plasticity and spontaneous motor activity. Accordingly, the ablation of D1 receptors disrupted corticostriatal LTP, whereas pharmacological blockade of D5 receptors prevented LTD. On the other side, genetic ablation of D1 receptors increased locomotor activity, whereas the D1/D5 receptor antagonist SCH 23390 decreased motor activity in both control mice and mice lacking D1 receptors. Endogenous DA stimulated D1 and D5 receptors in distinct subtypes of striatal neurons to induce, respectively, LTP and LTD. In control mice, in fact, LTP was blocked by inhibiting the D1–protein kinase A pathway in the recorded spiny neuron, whereas the striatal nitric oxide-producing interneuron was presumably the neuronal subtype stimulated by D5 receptors during the induction phase of LTD. Understanding the role of DA receptors in striatal function is essential to gain insights into the neural bases of critical brain functions and of dramatic pathological conditions such as Parkinson's disease, schizophrenia, and drug addiction.
The capacities needed by local authority chief executives

Research was commissioned to identify the competences that are required by local authority chief executives in the UK. It emerged that the “competence approach” was inappropriate for their needs. Instead, “capacity” – a concept originating in psychoanalytic theory – was adopted as one which reflected better the reality of the chief executive’s role. Through a qualitative research approach with a sample of chief executives, five capacities were identified. These were seen as central to the effective performance of the chief executive’s role. The research suggests that policies concerned with the development of chief executives should not be based on an orthodox competence approach. It recommends the use of “capacity” as a better way of conveying chief executives’ capabilities to “hold” many interconnected, dynamic and paradoxical dimensions in their work.
Board and Monitoring Committee Independence

This study focuses on the composition of boards of directors and their monitoring committees (audit and compensation) for large Australian companies. For firms whose boards use a committee structure, much of the monitoring responsibility of the board is expected to rest with the independent committee members. We document a positive association between the proportion of independent directors on the full board and its monitoring committees, and a greater proportion of independent directors on both audit and compensation committees than the full board. Our hypotheses tests involve an examination of the impact of other mechanisms used to control agency conflicts on full board and committee independence, and the association between this independence and firm value. We find that full board independence is associated with low management ownership and an absence of substantial shareholders. Audit committee independence is associated with reduced monitoring by debtholders when leverage is low. While we predict a positive relationship between board and monitoring committee independence and firm value, our results do not support this conjecture.
Is Sweden's fiscal framework sustainable? The effects of population ageing on economic growth and public finances

Summary As in most developed countries, Sweden is facing significant demographic changes. This paper focuses on the possible strains that these changes could place on public finances and on economic activity. The underlying model is a Ramsey growth model with two important extensions. First, age-related consumption is financed with both private income and public-sector benefits. Second, public spending is financed with distorting taxes on income and consumption. As a result, increases in public sector spending (because of an ageing population) could require increases in tax rates, which, in turn, could discourage capital accumulation, resulting in slower economic activity and lower per capita consumption. The model is calibrated to the case of Sweden, and some preliminary results are presented.
Academic Advising and Adult Education: An Emerging Synthesis

Academic Advising as a profession has taken great strides in the last decade. In the 1960's academic advisors, who were usually faculty with little or no training, acted as willing amateurs, transmitting to their advisees whatever limited information trickled down from the division chairperson's office. In recent years, however, academic advisors have increasingly been referred to in literature and on campuses as "resource people" and "change agents. " Instead of their roles being purely informational, they are more developmental; advisors are now in the business of helping their students reach their full potential.
The power of sport: Building social bridges and breaking down cultural barriers

This thesis set out to find evidence whether sport was effective at breaking down cultural barriers across sporting communities for Indigenous people and those from Culturally and Linguistically Diverse (CaLD) backgrounds, and if it could build bridges by contributing to wider social, physical and health issues, and thereby generate increased social capital in communities. Drawing upon new insights and experiences of online survey respondents and interviewees who are directly involved in various capacities in all levels of sport in Australia, this research finds that sport is not the magic bullet to ‘cure all’ social ills that many assume, in fact in many cases sport reaffirms many existing power structures which cause discrimination and inequality. However, participation in and through sport can help processes of belonging, trust and inclusion, and if managed correctly, sport can be an excellent medium for encouraging awareness and valuable public debate on wider social issues. This thesis aims to contribute to existing sport and sociology studies concerning social capital and exclusion and discrimination in elite and community sporting contexts. It also aims to add to sports policy knowledge and practice through investigating the nature, effects and consequences of policies, programs and systems that have been put in place to encourage inclusive, non-discriminatory environments across a number of different sports in Australia. By comparing and contrasting multiple sporting codes it is possible to determine how far these sports have progressed at addressing issues and challenges for Indigenous people and CaLD groups since I conducted research in 2007 for the Australian Human Rights Commission when I authored What’s the Score? A survey of cultural diversity and racism in Australian sport (AHRC, 2007). I also highlight the contribution that sportspeople, events and campaigns have contributed to enhancing social networks and furthering awareness and debate on wider social, physical and health issues. One enduring point to highlight from this research is that sport alone cannot achieve social goals or solve complex issues it is the players, coaches and administrators who are the heart and soul of sporting organisations at elite and grassroots levels that hold the key to what sport is capable of delivering. This thesis argues that sport is the empty vessel it is how we choose to fill this vessel that determines what the The Power of Sport iv outcomes will be; this includes the avowed policy outcomes it seeks to achieve around participation, inclusion, health, education or any other issue it may engage with.
Pengaruh Struktur Aktiva, Ukuran Perusahaan, dan Profitabilitas Terhadap Struktur Modal Emiten Sektor Telekomunikasi Periode 2000-2006: Sebuah Pengujian Hipotesis Pecking Order

The aim of this research is to examine pecking order hypothesis with some variables that have impact on capital structure such as asset tangibility, firm’s size, and profitability. The sample that I used was taken from telecommunication sector which collected by purposive sampling method. This research uses panel data analysis as method of analysis. The result concludes that the firm’s size is the only variable that supports pecking order hypothesis.
Tip-Collection Strategies, Service Guarantees, and Consumer Evaluations of Group Package Tours

Signaling theory proposes that consumers use signals, such as price and guarantee, sent by firms to form impressions of quality. Several tip-collection strategies and types of service guarantee are employed by travel agencies as pricing strategies and marketing tools, but empirical evidence for the effects of these strategies and guarantees on consumers' pre-purchase evaluation is lacking. This study employed a 2×3 between-subjects factorial design—with two tip-collection strategies (tipping by participants and included) and three types of service guarantee (none, attribute-specific, and full satisfaction)—to elucidate these effects. The results indicate that a group package tour (GPT) with a tips-included strategy and full satisfaction guarantee was preferred by our subjects because of higher expected service quality and willingness to buy, and the lower perceived risk. Research implications and future research directions are also discussed.
Towards redefining the concept of legacy in relation to sport mega-events: Insights from the 2010 FIFA World Cup

Increasingly, governments from both the developed and developing world look to hosting sport mega-events as a way to stimulate development. There is much debate over what the legacies of sport mega-events are, how to stimulate positive legacies and how they should be studied. Drawing on a growing body of scholarship on legacy best and worst practice, this article discusses the economic, physical, infrastructural, social, political and environmental consequences of sport mega-events, using insights from South Africa's hosting of the 2010 FIFA World Cup. It examines pertinent debates, highlights prominent approaches to assessing legacy impacts, notes the lack of consensus on the meaning of ‘legacy’, and suggests steps towards a clear definition of the concept. These include the need to consider event impacts in relation to the context in which they occur, and to integrate triple bottom-line principles systematically into mega-event planning, design and evaluation.
Welfare-optimal trade and competition policies in small open oligopolistic economies

Standard trade theory claims that free trade is welfare-enhancing. We show that this is not the case if at least one sector of the economy is a Cournot oligopoly. In a simple small open economy with one oligopolistic and one competitive sector, welfare is an inverted U-shaped function of tariffs. Hence, an optimal tariff rate can be determined. The optimal rate depends on the number of firms in the oligopolistic sector. Below the optimal level, the competitive sector overproduces, i.e. oligopolistic good have a higher marginal effect on welfare. Increasing tariff rates stimulate the production of the oligopolistic sector by dampening imports. Under balanced trade, this reduces exports and production in the competitive sector, thus shifting resources to oligopolistic goods production. We also find that given certain levels of protection, perfect competition is not welfare maximal and, hence, not desirable. The finding explains why developing economies with imperfect competition are often reluctant to embrace trade liberalization and why, conversely, countries with high levels of external protection may be unenthusiastic about competition theory.
IMPACT OF THE NOVA SCOTIA SCHOOL ACCREDITATION PROGRAM ON TEACHING AND STUDENT LEARNING: AN INITIAL STUDY

School accreditation is one process currently mandated in Nova Scotia schools to facilitate school improvement efforts. This mixed methods study sought to discover and describe the impact of the Nova Scotia School Accreditation Program (NSSAP) specifically on teaching and student learning in three secondary schools in one school board. Surveys, interviews, and school documents provided data concerning the nature of each school’s respective improvement goals and subsequent implemented strategies. An analysis follows that considers the NSSAP impact on teacher participation and student achievement, and the ambiguity of program success.