bluuebunny/crossref_metadata_2025 huggingface dataset:
Theories Reflecting My Personal Experience and Life Development
Authors: Alderfer Clayton P.
Published: January 2017

Social science theories are expressive acts by their authors, and thus reflect their authors' life experiences and developmental tasks. Maslow's theory of human motivation and Alderfer's conception of existence, relatedness, and growth (ERG) needs are frameworks accounting for the same phenomena. An alternative to Maslow's formulation, ERG theory was presented during a later historical period than its predecessor, and at an earlier stage of its author's life. In this autobiographical account, the author describes his childhood and adolescent origins and the events that led him to formulate ERG theory, examines the life stages at which he and Maslow developed their theories, and discusses how aspects of the authors' lives might account for similarities and differences in their conceptual products.
The Pathways of My Research: A Journey of Personal Engagement and Change
Authors: Gray Barbara
Published: January 2017

Research is a process of self-engagement, for researchers project their own identities and conflicts into their professional work. In this autobiographical account, the author describes her background as a middle-class Catholic in Cleveland, her education and work experience in chemistry, her community activism, and her experiences as a doctoral student, faculty member, and consultant in organizational behavior. From this personal history four key themes emerge that inform her work: developing meaningful relationships, dealing with diversity, commitment to social change, and empowerment. These themes are particularly evident in her work on multiparty collaboration to resolve business and social problems. The author suspects that her gravitation toward organizational transformation and collaboration reflects her own inner search for wholeness.
Upper Airway Obstruction in Nigeria: An Aetiological Profile and Review of the Literature
Authors: Ogunleye A O A , Nwaorgu O G B , Sogebi O A
Published: January 2017

The early history of tracheostomy and intubation suggested that upper airway obstruction had been in existence for a long time. A study of 80 patients with upper airway obstructions treated over a 10-year period between 1990 and 1999 was carried out to determine the aetiology and incidence. There were 65 (81%) males and 15 (19%) females with a sex ratio of 4.3:1 (M:F). The age ranged from 6 months to 70 years; with mean age of 27 years. Ninety-nine per cent were acquired causes and 1% were congenital. The commonest site of obstruction was in the larynx 81%. In children, the most common causes were laryngeal papilloma (16%) and foreign body (14%), while in adults, laryngeal carcinoma (24%) and direct laryngeal injuries (15%). The study revealed a wide range of causes of upper respiratory tract obstruction encountered in a developing tropical country. Health education and community awareness programmes should be supported. This would encourage early presentation, prompt referral to experts and earlier treatment with improved outcome.
Mental Health Problems in a Population without a Previous Modern Psychiatric Care System
Authors: Chabwine Joelle-Nsimire , Mubagwa Kanigula
Published: January 2017

Despite the recognized role of traditional healers in helping patients with mental health problems, there is a need for modern mental healthcare facilities in Africa. When made available, these are used by the local population, but less by those at remote locations. Data from the SOSAME centre indicate the high prevalence of mental diseases, especially in urban population and during the active decades of life. To decrease the burden imposed on mental health institutions by patients consulting for non-mental problems, it is desirable to integrate these institutions with the other components of the healthcare system.
Epidemiology of Burn Injury: Experience in the Savannah Region of Northern Nigeria
Authors: Kalayi G D
Published: January 2017

Burn injury is a worldwide problem. We examine the epidemiological factors which cause conditions in which burns are more likely to occur. Seasonal variation influences (i.e. the cold dry harmattan period), certain cultural factors such as ‘Wankan Jego’, and using platforms with bedside fires, are contributing factors. The faulty storage of petroleum product has its toll. Poor architectural design and a low level of education in addition to poor socio-economic condition are factors that need to be addressed to reduce the incidence.
Evaluation of Lacto-Phenol Cotton Blue Stain for Detection of Eggs of Enterobius Vermicularis in Perianal Surface Samples
Authors: Parija S C , Sheeladevi C , Shivaprakash M R , Biswal N
Published: January 2017

A lacto-phenol cotton blue (LPCB) stain for detecting eggs of Enterobius vermicularis in perianal surface samples was evaluated prospectively. Two hundred children treated in the paediatrics ward and outpatients department of Jipmer Hospital in Pondicherry were studied. From each child two anal surface samples were collected by Scotch cellophane tape method. One cellophane tape containing anal surface samples was pressed against surface of the glass slide containing a drop of LPCB while another cellophane tape was placed on a clean glass slide without adding any LPCB. Both the specimens from each child were examined by microscopy for presence of the eggs of the parasite. The anal samples collected from 50 children were positive for the eggs of E. vermicularis - 48 were detected by cellophane tape using LPCB and 36 by cellophane tape method without using any LPCB. Using LPCB stain, naturally transparent and colourless eggs of the parasites were stained deep blue which facilitated their easy detection and accurate identification in routine microscopy. We therefore recommend Scotch cellophane tape using LPCB as a simple, rapid, inexpensive and overall more sensitive method for detecting E. vermicularis eggs in anal surface samples for diagnosis of enterobiasis in children.
Spinal Tuberculosis
Authors: Bewes Peter
Published: January 2017

Spinal tuberculosis is an important and potentially crippling disease, but if recognized early and treated energetically it can be brought under control, often with very gratifying results. Knowledge of the exact bacteriology and sensitivity pattern of the organisms involved can be very helpful indeed, and should be sought where possible.
Splenectomy for Trauma
Authors: Ihekwaba F N
Published: January 2017

The progress of 94 patients who had splenectomy for trauma, and 96 controls, matched for age and sex, who had other emergency abdominal operations were compared after follow-up periods of 4–49 (mean 26) months, with a view to identifying: any increased tendency to bacterial sepsis generally; any incidence of overwhelming postoperative infection.

There was no evidence of an increased tendency to pyogenic infection among the splenectomized patients studied. No instance of overwhelming sepsis was recorded among patients in either group.

It is suggested that apart from splenosis and ectopic spleens, additional factors peculiar to the tropics may operate to enhance host defence among splenectomized patients in these areas. Conservation of the ruptured spleen may thus be unnecessary for the older child and young adult patient in the tropics.
Layered versus Mass Closure of Vertical Midline Laparotomy Wounds in Negro Africans
Authors: Efem Spencer E E , Aja Akuma
Published: January 2017

A prospective comparative study of layered closure versus mass closure of vertical midline laparotomy incisions was undertaken in 314 consecutive patients of indigenous Negroid ancestry. Group A (109 patients) had mass closure and group B (205 patients) had layered closure. The patients were similar in both groups. Group A consisted of 49 (45%) emergencies and 60 (55%) elective cases, and group B of 93 (45%) emergencies and 112 (55%) elective cases. There were 6 cases of burst abdomen and 4 cases of incisional hernia in group B; group A suffered no wound failure. The wound infection rates were 3.7% for group A and 10% for group B.

Mass closure carries lower wound failure rates than layered closure of laparotomy wounds, and polyamide sutures do not increase keloid formation in Negro patients.
Tuberculosis in Diabetic Patients in Tanzania
Authors: Swai A B M , McLarty D G , Mugusi F
Published: January 2017

During a 1–7 year follow-up of 1250 African diabetic patients at Muhimbili Medical Centre, Dar es Salaam, 68 (5.4%) were known to have developed pulmonary tuberculosis and two (0.2%) spinal tuberculosis. In 18 (25.7%) of the 70 patients tuberculosis was diagnosed prior to the diagnosis of diabetes, and in 32 (45.7%) after the diagnosis of diabetes. In 20 (28.6%) patients tuberculosis and diabetes were diagnosed at approximately the same time with most presenting with symptoms of diabetes. The prevalence of tuberculosis was greater in the young, in those with a low body mass index (BMI), in patients with insulin-dependent diabetes mellitus compared to those with non-insulin-dependent diabetes mellitus (9.0% vs 2.7%) and in those whose diabetes was poorly controlled. Seventeen (24.3%) of the 70 patients are known to have died. Pulmonary tuberculosis may progress rapidly and a high index of suspicion is required. It remains a significant cause of morbidity and mortality among diabetic patients in developing countries.
Indoor Woodsmoke Pollution Causing Lower Respiratory Disease in Children
Authors: Collings D A , Sithole S D , Martin K S
Published: January 2017

Suggested aetiological factors were evaluated in 244 consecutive children presenting with lower respiratory disease at Marondera Hospital, Zimbabwe. Data obtained from these children were compared with information obtained from 500 children seen at the local well baby clinic. There were no differences in the prevalence of malnutrition, breast feeding, overcrowding, poor housing conditions and poverty in these two groups of children. A significant association was identified between lower respiratory disease and exposure to atmospheric woodsmoke pollution in young children. Air sampling within the kitchens of 40 children revealed levels of atmospheric pollution far in excess of the WHO recommended exposure limit1. Elevated carboxyhaemoglobin concentrations confirmed childhood smoke inhalation. We suggest that in many Third World communities a chemical pneumonitis resulting from the inhalation of noxious constituents of woodsmoke predisposes to lower respiratory disease in children.
Adi Quala: Application of Solar Photovoltaic Generation in Rural Medical Centres
Authors: Allen Paul , Welstead Jean
Published: January 2017

Adi Quala is an Eritrean agricultural town of 14 000 people, and is situated about 70 km south of the capital, Asmara and 30 km from the border with Tigray, Ethiopia. On good days electricity was received from Asmara between 0600 h and 2300 h with nothing available outside these hours. These conditions meant the electricity supply had been a constant problem for the Adi Quala hospital which caters for about 50 000 people with 21 staff. It was for this reason that it was chosen for the first solar system, which provides all essential requirements completely independently from the grid connection. This will in turn enable the hospital to increase the range and reliability of services on offer.

Three weeks after the arrival of the equipment the elders were able to have a guided tour of their new local facilities. This included 2kW of photovoltaic panels (installed on the roof), batteries and control equipment powering a range of hospital equipment used in the Mother and Child Health Centre, delivery room, wards, dispensary, clinic and laboratory. Their enormous appreciation was very moving and well articulated in an afternoon of music, speeches and feasting. Eritrea's first solar powered hospital was welcomed into capable hands. The pilot project was successfully installed and commissioned in February 1992, and has performed well to date.
Rheumatic Fever and Rheumatic Heart Disease: An Overview
Authors: Groves Alison M M
Published: January 2017

Rheumatic fever and rheumatic heart disease are still major causes of disease in the developing world today. Diagnosis and prevention, particularly secondary prophylaxis, will become even more important as increased urbanization, with greater population pressure and economic problems, increase the prevalence. The number of children and young adults in their most crucial years of life who would avoid chronic disease and death would more than repay the investment of time and resources.
Tuberculosis and Pericarditis in Children
Authors: Weber Suse
Published: January 2017

With the rapid spread of tuberculosis (TB) in Zimbabwe the disease is becoming a major paediatric health problem. Children are at high risk of TB, are prone to disseminated disease and the diagnosis of paediatric TB may be difficult, since complaints often are unspecific and contacts may not been known. Data from 265 children, aged between 2 weeks and 12 years, being treated for TB in Gweru Hospital in 1995, are analysed. In 72% pericardial effusion was found as a sign of early dissemination. Cultures of gastric aspirates for Mycobacterium tuberculosis were positive in 31%. In optimal circumstances the yield for isolates of M. tuberculosis is less than 50%, and these results under limited conditions are acceptable, and may reflect the true incidence. Given the epidemiology of TB in Zimbabwe, pericardial effusions should be considered indicative of TB until proven otherwise.
Epidemiology and Clinical Profile of HIV/AIDS in Pakistan
Authors: Baqi Shehla , Kayani Naila , Khan Javaid A
Published: January 2017

This study reviews available data on HIV/AIDS in Pakistan and is the first to analyse a clinical series of HIV-infected patients thus giving a wider perspective of the epidemic in Pakistan. A retrospective analysis of all medical records of patients with HIV/AIDS since 1986 was conducted in March 1998 at a Karachi hospital. There were 67 patients. Twenty-two were overseas (Middle East) contract workers. None were sex workers or drug users. Fifty-four had travelled or lived abroad. High risk sexual behaviour was reported in 35 patients of whom 26 men reported contact with commercial sex workers, mostly in the Middle East (21). The most common AIDS indicator condition was chronic diarrhoea. HIV in Pakistan is currently a disease of those Pakistanis (and their sexual partners) who have travelled abroad, overseas contract workers and those who, prior to 1989, were transfused abroad or received imported blood products.
Detection of Disabilities by Schoolchildren: A Pilot Study in Rural Pakistan
Authors: Saeed K , Wirz S , Gater R , Mubbashar M H , Tomkins A , Sullivan K
Published: January 2017

An important consideration in planning services for disabled children is to establish the need, including the size of the potential beneficiary group. However, surveys are expensive and time consuming (especially surveys of disability, which has a low prevalence within the population), and can raise expectations of service for patients who are often very unsure about how to cope with their disabled child. The World Health Organization (WHO) has produced a series of survey tools1 which have been used to identify disabled children in settings where a service is planned. Zaman et al.2 produced the ‘10 Question Screen’, a simple screening tool for use by community health staff to identify disabilities among children in the community. Both the WHO survey tools and the 10 Question Screen rely on trained primary health care (PHC) or community-based rehabilitation (CBR) staff. The small study reported here shows that schoolchildren are effective identifiers of disabled children within their home communities and may be a useful resource when there are no trained CBR or PHC workers to conduct surveys. Furthermore, the children's ability to identify within the five major disability groups was relatively robust when compared with medical diagnosis.
Exploitation of Vigorous Hydrothermal Systems
Authors: Elder John
Published: January 2017

Some 1% of the earth's crust has heat flux significantly above the global average. Concentrated in areas of the order of 10km2 associated with volcanic zones, such energy can be tapped for local power projects commonly generating 10MW km2. Such systems are of great value to those areas of developing countries, and elsewhere, lucky enough to possess this resource, but could never be seen as a ‘solution’ to the world energy problem.

Long-term effects of field development are unknown, for instance development of the Wairakei field in New Zealand has only been active for 25 years. The vital choices for management of such fields are in how quickly energy is required, and how much. These choices will dertermine whether the resource must be ‘mined’ or whether it is possible to recharge the system and maintain a long-term supply. If the former, geothermal energy must be regarded as a ‘finite’ resource, for it is non-renewable, unless fluid extracted is replaced. Mining, resource definition, field development and theoretical background to these aspects are discussed and illustrated using a model of a typical development.
A Renewable Energy Source: Wood
Authors: Watt G. R.
Published: January 2017

Wood currently provides about 3.6% of the total energy consumed in the world which it is estimated is a slightly higher percentage than for nucleur power. However there is a marked variation in the importance of wood as an energy source between developing countries, where the percentage varies between 6% and 75%, depending on the region, and developed countries where the percentage is estimated to lie between 0.3% and 1%. Fuelwood accounts for approximately 47% of total world wood production with a similar marked difference between developing and developed countries.

Wood, whose thermal efficiency is influenced by its specific gravity and moisture content, can be converted to energy by combustion, pyrolysis, gasification, hydrolysis or hydrogenation. These processes are reviewed along with some of their advantages and disadvantages. Of these, combustion is the most important at present although charcoal is locally important in some countries. In the long term, gasification and hydrolysis may be of more significance since they can be used to convert wood to liquid fuels.

Information on the size of the world's wood resources is given and also estimates of biomass production. These suggest that wood has considerable potential since annual forest biomass production is equivalent to about four times the world's total energy consumption per year. Wood supplies for energy in future could come from switching small roundwood logs from existing end uses, using sawmilling residues, fuller utilisation of trees in the forest, or by establishing new plantations specifically for energy production.

The way in which wood may be used in the future, and the scale of any developments are examined in the context of both developing and developed countries, and it is concluded that wood being a renewable source of energy is likely to remain at least as important as it is now, and any increased use will depend on the cost of alternative sources of energy, wood availability, and the costs and technological developments in using wood itself as a source of energy.
North American Energy Markets: The Evolution of Energy Interdependence between Canada and the United States
Authors: Hughes William R.
Published: January 2017

Energy trade between the United States and Canada is growing from a minor aspect of the markets in the United States to a significant development with material impacts on energy prices in the United States and a major aspect of Canada's energy economy.

This development is most pronounced in natural gas, where Canada's large resources and flexible approach of negotiated transactions is leading to regrowth of exports. For the United States, Canada serves as a buffer from potential high prices as a result of resource depletion. This price impact is potentially substantial over the next 10 years. Imports will likely double by 1990 and will further increase thereafter.

In electric power, the impacts are regional; in the affected regions, Canadian ratepayers will be spared the high costs of overcapacity and will benefit from provincial profits from exports. Ratepayers in the importing regions—New York, New England, and potentially California—will benefit from the fact that Canadian power is available at substantially lower rates than alternative sources in the United States.

In petroleum, Canada, Mexico, and the Caribbean are main exporters to the United States. Price decontrol will help free interdependence of domestic Canadian markets with Canadian trade with the United States, but, overall, little change is expected from the present pattern.
Natural Gas Competition: A Distributor's Viewpoint
Authors: Terry Richard E.
Published: January 2017

Competition in the natural gas industry from the viewpoint of a distributor centers around the interstate pipeline producers' contract problems and the responsiveness of pipeline rates to markets. Trends in regulation have been to encourage producers to deal directly with distributors and end-users by blanket transportation approvals and by allowing pipeliners to act as brokers. Natural gas should maintain its competitiveness against alternate fuels in a deregulated market.
Perspective of a US Producer
Authors: Nelson Richard F.
Published: January 2017

The US natural gas business is making headway in becoming more efficient, and more market responsive. Advice to the Canadian gas industry is this: Our challenges are your challenges. Be prepared to meet in a very competitive United States market.
Deregulation and North American Natural Gas Markets: Perspective of a US Pipeliner
Authors: Slocum George S.
Published: January 2017

A cliché that seems appropriate to any energy overview these days: ‘in times like these, it helps to remember that there have always been times like these’.
US Electricity Markets
Authors: Bauer Douglas C.
Published: January 2017

Current US electricity markets are showing improvement, reflecting improvement in the economy as a whole. However, we do have several concerns for the future. The risks which accompany new power plant construction have led the industry, as well as others, to seek out new alternatives. Canadian imports, cogeneration, and improved bulk power markets all have a role to play in future utility planning. But, I believe we must still retain the option of new central station generation.

Current attempts in the US to remove capital formation incentives through tax reform, to prohibit construction work in progress in the rate base, and to exclude surplus capacity from cost recovery are examples of public policy decisions which we believe would be counterproductive to providing low cost, reliable power to consumers. Rather, we believe public policy should focus on providing the utility industry with the opportunities to make the best long-term economic decisions on behalf of its customers.
Canada's Project Lazarus: Resurrecting US Nuclear Power?
Authors: Bagge Carl E.
Published: January 2017

The North American coal market is healthy. It will grow in the United States because electricity use will grow; and coal is America's only real option. The Canadian coal industry will grow as well. The only competition for coal in the United States is the non-coal power of Canada. We will compete and establish a natural economic frontier along our border in the east.
Energy Project Financing: Risk Analysis and Allocation
Authors: Logan Frank H.
Published: January 2017

This paper shall address the area of risk analysis, i.e. the allocation of certain risks between the project sponsors/owners, that is the borrowers, and the Bank and the remuneration received and paid for such risks. The approach to this topic is to provide an historical perspective on these areas and to provide a few thoughts on possible future directions.
Editorial
Authors: Herzer Richard H.
Published: January 2017

New Zealand's Energy Predicament — Setting for the New Zealand Oil Exploration Conference, Wairakei, N.Z., 1–3 July, 1987
Tectonic Controls on Cenozoic Sedimentation in the North Island New Zealand
Authors: Spörli K.B.
Published: January 2017

Cenozoic deformation of the North Island was dominated by the “closure” of the Challenger Rift and the establishment of the presently active subduction system. The initiation of subduction-related volcanic chains and their subsequent migration influenced the source of clastic material deposited in the Neogene basins. Uplift patterns, shoreline and drainage configurations were governed by complex 3-D distortion of the transition between the Alpine Fault system in the south and the Hikurangi through subduction system in the north.

Along the Pacific side of the island, in Northland, some “piggy back” basins were formed on allochthonous pockets of sediments involved in obduction of ocean floor rocks onto the North island. Clockwise rotation on the east coast region and alternate coupling and decoupling across the subduction thrust created short-lived forearc basins. Axial ranges, and derivation of gravels from them are younger than 1 m y B.P. A very young, still active cross structure due to oblique subduction led to the formation of South Taranaki Bight, caused differences in the width of the axial ranges along their length and may be the reason for the peculiar coastal indentation of Hawke Bay.
Weather and Sea Conditions Offshore New Zealand
Authors: Falconer R.K.H. , Handley L.J.
Published: January 2017

Weather and sea conditions offshore New Zealand are severe enough to be of concern for oil exploration or production, coastal engineering, and shipping; and there have been some bad experiences. Analysis of existing information will permit adequate predictions of likely conditions in most areas. To illustrate the type of data available, and its limitations, examples are presented from the the southern area of New Zealand. Ship report files, particularly those from oil rigs, give adequate indications of wind speed and direction, swell and sea height is reasonable if recalculated as combined wave height, swell directions are adequate, but many sea and swell periods are unreliable. Hinds derived from radar tracked balloons can be used to predict winds up to 250km offshore, which provides a large historical data base. Numerical model derived wave heights correctly indicate the pattern of wave height changes with time, but the amplitudes must be scaled for near site data.
Advances in Oil and Gas Reservoir Appraisal
Authors: Spencer J A
Published: January 2017

Significant variation in reserves during the life of a field from initial discovery through production and decline to abandonment, has long been recognized as a fact of life in the oil industry. As a fundamental asset of an oil company, there is a global desire to limit inaccuracies and present not only a consistent, but also an accurate view of reserves.

Discussed here are the stages of a field's development and how these relate to reserves growth and decline. The impossibility of exact prediction from an inaccurate science in a changing world is acknowledged. Statistical information gathered on British Petroleum's fields has been analysed to illustrate historical movement and trends in reserves.

The application and effect of recent advances in the techniques used in reservoir appraisal and reserves estimation is briefly reviewed.
China's Offshore Oilfields — A Reappraisal of the Success Rate
Authors: Davies A.W. , Davies J.M.
Published: January 2017

Whilst there have been claims that the success rate has been near 30 per cent, the realistic success rate is near 3 per cent. Due to the poor success rate, the Chinese petroleum authorities are now likely to consider all proposals of offshore exploration.
Structural Changes in the USSR Coal Industry and Prospects for International Co-Operation
Authors: Astakhov A.S.
Published: January 2017

The purpose of the paper is to draw some lines of long-run development of the USSR coal industry and to attract attention of western colleagues to some new possibilities of business activities related to a number of structural changes which are faced for this industry. Objective necessity of such restructuring, and hard problems arising from it are, in the author's opinion, main objects to be taken into account in future co-operation. It is not intended to discuss details, but to review some effective directions. Restructuring directions are to be discussed within a wide spectrum of activities.
A Futures Market Response to Oil Price Volatility
Authors: Levine Alan H.
Published: January 2017

The volatility of oil prices has expanded dramatically over the past twenty years. New mechanisms, including futures and forward contracts, options on futures and “over-the-counter” options have been developed to deal with the uncertainty of buying or selling of petroleum in the highly competitive markets that now characterize the oil situation.

Futures contracts — agreements to buy or sell oil at a particular time in the future — are the core of the new mechanisms. Since futures market prices move in concert with cash (“wet”) market prices, futures can be an effective substitute for wet barrel transactions. Buyers of options gain the advantage of futures trading — the right to buy without the obligation to do so — for a fee.

Futures markets provide open pricing, not subject to special, hidden arrangements. Contracts are available for crude oil, heating oil, gasoline, propane and natural gas. All contract terms are fixed so that only price need be negotiated. This is how so many contracts are traded rapidly.

Financial institutions are learning that futures, when used in a competent hedge program, provide safety and allow for business expansion.
Technologies for Reducing Carbon Dioxide Emissions from Fossil Fuel Fired Installations
Authors: Steinberg Meyer
Published: January 2017

All mitigation scenarios proposed to date either tend to slow down the rate of atmospheric CO2 emissions or level out the CO2 concentration in the atmosphere. A unique system has been devised which offers a method of actually reducing the CO2 concentration in the atmophere while still generating energy from fossil fuel. The only economically and technically reasonable method for removal of CO2 from the atmosphere is by the process of solar photosynthesis which extracts carbon from atmospheric CO2 by formation of biomass, e.g., ligno-cellulose. The biomass is then thermochemically converted by the HYDROCARB technology with fossil fuel, gas, oil or coal to produce carbon black and methanol. The carbon is returned to the earth, for long-term storage, while the methanol is used as fuel. In this manner, methane gas and oil co-processed with biomass results in a net removal of CO2 from the atmosphere of about 78 lb CO2 per million Btu of methanol generated energy. There is also large energy enhancement in utilizing gas and oil for producing methanol compared to conventional methanol processes using these fuels. Co-processing with bituminous coal results in no net CO2 emitted or removed per unit of methanol energy generated. The process chemistry system is described and quantified in this paper.
The Natural Gas Futures Markets - is it Still Inefficient?
Authors: Herbert John H.
Published: January 2017

The natural gas futures market is fundamental to the current natural gas market both as means of price discovery and for price hedging. Thus, the informational efficiency of the futures market is an important issue. In this article we re-examine the informational efficiency of the natural gas futures market. In this re-examination several cash price series are considered. It is found that the natural gas futures market is informationally efficient for only one of the cash markets. The characteristics of the current natural gas market that might explain the estimated results are also discussed.
Outlook for the Supply of Carbon-Based Energy to 2010
Authors: O'Dell Sean
Published: January 2017

The next 15 years will see the overall energy structure become more global. There are unlikely to be supply problems and to some extent will depend on resources not yet discovered. OPEC oil supplies might, in part, depend on its willingness to respond to demand pressures. Natural gas supply will be influenced by the expansion of gas infrastructure including pipelines, liquefaction and re-gasification plants and tankers. Most regions are unlikely to face restrictions in coal availability.
Strategic Developments in the Middle East: Their Impact on Oil Markets
Authors: Kern Nathaniel
Published: January 2017

Many strategic issues for oil markets are related to the future of Iraq, hostility between Washington and Teheran and the stability of regimes in the Arabian Gulf. Other issues are Islamic extremism, the Arab-Israeli peace process, regional border disputes and the management of the regional oil producer's economies.
Petroleum Product Demand in China
Authors: Wang Henry Haijiang
Published: January 2017

Market forces play an increasingly important role in petroleum product distribution, sales and pricing. Both refiners and consumers have opportunity to operate, in part, as private businesses. The total petroleum product demand is likely to increase by 3.9 per cent per year by 2005 to reach 4.47 mmb/d, that is 140,000 b/d per year over the next decade.
Northwest Asia – Gas Market Outlook: LNG vs. Pipline Gas
Authors: Paik Keun Wook
Published: January 2017

The share of natural gas in Northeast Asia's energy mix is quite low despite that the region currently dominates the world LNG trade. In the long term, the region's rapid expansion of gas demand in the coming decades looks very likely, hut the LNG dominance in the region's gas market will collapse in parallel with the introduction of a long distance pipeline gas. The most likely timing of pipeline gas introduction in Northeast Asian gas market seems to be during the second half of the next decade.
Global Implications of U.S. Power Deregulation
Authors: Maschoff Dean C.
Published: January 2017

With U.S. power deregulation remaining a topic that is dominating the entire North American energy marketplace, this paper provides an update of events occurring in U.S. electric power markets, offering some observations about changes due to increasing competition in electric power markets, and discusses some reasons why the events in U.S. electric power markets will soon transform global energy markets.

How quickly is the move from local service territory to global markets proceeding? More than fifty U.S. utility companies with revenues of over $1 billion (U.S.) will soon be actively seeking and participating in global business opportunities. Using the same logic that led them to pursue utility initiatives nationally, U.S. utilities will use their core capabilities to compete in global energy services markets. In connection with these global initiatives, U.S. utilities will bring the same fuel-neutral, gas-electric perspective to international electric power and natural gas markets.
Stock Dividends and Splits: Anticipation, Signaling, and Market Response
Authors: Crawford Dean , Franz Diana R.
Published: January 2017

The literature on stock distributions has documented that there is a positive stock market response to the announcement of a stock distribution and a negative relation between the market response and the presplit price of the stock. The positive market reaction has been attributed to (1) the benefits that may result from a lower per share stock price and (2) a signal from management about their favorable private information. The negative correlation between the market reaction and the presplit price may indicate (1) that the firm's share price affects the extent to which the market anticipates the distribution and/or (2) that the share price acts as an inverse proxy for the credibility of the signal. Empirical evidence supports both the anticipation and credibility-of-signal hypotheses. The anticipation effect can exist only if the anticipated event has cash flow consequences for investors. Therefore, the evidence supporting an anticipation effect implies that the positive market reaction to stock distributions is partly due to trading range benefits. Likewise, the credibility-of-signal model presupposes a decision by management to signal the market. Thus, the evidence also implies that the market reaction is partly due to a favorable signal from management.
Insider Trading, Analysts' Forecast Revisions, and Earnings Changes
Authors: Sivakumar Kumar , Vijayakumar Jayaraman
Published: January 2017

We provide evidence that insider trading contains value-relevant information by examining the association of insider trading with subsequent earnings changes and analysts' forecast revisions. Using a sample of 93,036 observations for 2,181 firms during 1986-1991, we document significant associations between insider trading and short (one-year-ahead) and longer term (two-and three-years-ahead) earnings changes, and between insider trading and analysts' forecast revisions, showing that insider trading contains value-relevant information. Our results also suggest that when insider trading is in the direction of the unexpected earnings news (i.e., insider purchases following good earnings news and sales following bad news), insiders may be acting on value-relevant private information. When insider trading is in a direction contrary to the earnings news, these trades appear to be motivated by the insiders' recognition of the market mispricing of their securities.
Using Fundamental Analysis to Assess Earnings Quality: Evidence from the Center for Financial Research and Analysis
Authors: Fairfield Patricia M. , Whisenant J. Scott
Published: January 2017

We document postevent negative abnormal returns to the (implicit) sell recommendations of a group of fundamental analysts. We also find statistically significant deterioration in the financial performance of the identified firms in the year after the recommendations. Together the results are consistent with the claim of fundamental analysts that they are able to identify firms that are successfully masking operational problems with aggressive accounting. The sample in this study comprises 373 firms identified over a four-year period by the Center for Financial Research and Analysis (CFRA). The CFRA offers to subscribers a monthly report identifying approximately 10 firms that CFRA claims are experiencing operational problems and particularly those that employ unusual or aggressive accounting practices to mask the problems. The CFRA analysts rely on traditional techniques of fundamental analysis, including mechanical screens and more time-consuming analyses of footnotes and other public disclosures. Their data sources include only publicly available information, primarily SEC filings. We conclude that CFRA's apparent success in identifying firms with deteriorating performance provides evidence about the usefulness of traditional financial statement analysis. The results also provide a strong rationale for future research to identify specific techniques of fundamental analysis that can be employed to detect operational problems masked by aggressive accounting practices.
Evidence on the Management of Earnings Components
Authors: Plummer Elizabeth , Mest David P.
Published: January 2017

Although recent studies provide convincing evidence that firms manage earnings to achieve certain reporting objectives, there is only limited evidence on what steps firms take to manage their earnings. This paper presents evidence as to which components firms use to manage bottom-line, reported earnings. Specifically, we identify a set of firms believed to be managing earnings upward; plot the empirical distributions of analysts' forecast errors for sales, operating expenses, nonoperating expenses, and depreciation expense; and then examine these distributions for discontinuities around zero. Results suggest that these firms managed earnings upward by managing sales upward and by managing operating expenses downward. There is no evidence to suggest that these firms managed nonoperating expenses or depreciation expense to affect earnings. We then identify firm characteristics (level of current assets, level of current liabilities, and operating margin percentage) that affect the likelihood that these firms used a specific component to manage earnings. Finally, we use a firm's stock recommendation to make predictions about its incentives to manage earnings. Our evidence suggests that firms rated buy (rated sell) manage earnings upward (downward) by managing sales, operating, and nonoperating expenses in predictable directions.
S&Ls, Reporting Changes, and the Impact on the GNMA Market
Authors: Fried Dov , Hosler Charles
Published: January 2017

In an effort to alleviate the poor liquidity and profitability positions of S&Ls, the FHLBB eased its statutory net worth requirements by allowing the deferral of losses on the sale of old loans. This study examines the reaction of S&Ls to this accounting reporting change and the subsequent effect on the market price of mortgage-backed securities traded by S&Ls. The paper indicates that in reaction to the reporting change, prices in the GNMA market were affected, with low-coupon GNMAs declining in price relative to high-coupon GNMAs. This phenomenon is consistent with the (relative) increase in the supply of low-coupon GNMAs that were offered for sale by the S&Ls as a result of the change in reporting requirements.
The Financial Implications of In-Substance Defeasance
Authors: Roden Peyton Foster
Published: January 2017

In November 1983, the Financial Accounting Standards Board issued Statement No. 76, Extinguishment of Debt. The Statement permits corporations completing an in-substance defeasance to recognize an increase in earnings and earnings per share. High interest rates in 1984 and the Statement encouraged corporate managers to defease debt in substance and to show the associated increase in earnings per share.

The financial impact contrasts with those of accounting. Although in-substance defeasance leads to an increase in reported earnings, financial theory suggests that it leads to a decrease in the price of the defeasing corporation's common stock by doing the following: decreasing the amount of future cash flows, decreasing corporate liquidity, redistributing wealth from common shareholders to bondholders, and decreasing the debt-equity ratio. Only the change in the debt-equity ratio may lead to an expected increase in stock price. The other three influences lead to an expected decrease.
Dividend Restrictions and Accounting Choices
Authors: Hall Steven C.
Published: January 2017

Accounting changes of firms surrounding a tightening of the dividend constraint are examined for evidence of debt-contract-induced, income-increasing accounting changes. No meaningful difference in the number of material income-increasing accounting changes was detected between the sample of firms experiencing near-binding dividend constraints and a control group of firms. Weak evidence suggests that these results may be sensitive to the definition of near-binding and the persistence of the firm's downturn.
Determinants of Relative Investor Demand for Common Stocks
Authors: Cready William M.
Published: January 2017

This paper examines the demand for a firm's common stock by wealthy relative to less wealthy individual investors and by individual relative to institutional investors as a function of risk, information environment (proxied by firm size and S&P 500 membership), and form of return payout (i.e., dividends versus capital gains). The findings indicate that among individual investors demand for the stocks of riskier, larger, and low-dividend-yield firms increases with wealth. The findings also suggest that relative to individual investors, institutional investors prefer the stocks of larger firms, S&P 500 firms, and firms paying low dividend yields. Overall, these results suggest that investors find a number of firm-specific factors important in their investment choices and that the importance of such factors varies systematically with investor size.
An Investigation of the Effect of Accountant Involvement with Forecasts on the Decisions and Perceptions of Commercial Lenders
Authors: Strawser Jerry R.
Published: January 2017

Guidance for the traditional attest function recently has been expanded to provide directions to independent accountants performing engagements on forecasted financial statements (“Financial Forecasts and Projections,” AICPA [1992, AT 200]). Although the use of forecasted financial information in lending decisions has been extensively examined in previous research, the extent to which engagements identified by “Financial Forecasts and Projections” actually affect users' decisions and perceptions has not been determined. This study examines whether decisions and perceptions of commercial lenders are influenced by the level of accountant involvement (no involvement, a compilation engagement, or an examination engagement) with a hypothetical loan candidate's forecasted financial statements. The results of this study indicate that bankers consider the extent of accountant involvement with forecasted financial statements in their lending decisions. In addition, a significant interaction between the level of accountant involvement with historical financial statements and forecasted financial statements indicates that this effect is more pronounced when the accountant also audits the loan candidate's historical financial statements. However, bankers' perceptions of the responsibilities assumed and assurances provided by the accountant in these engagements differ from statements in accountants' reports. These inconsistencies suggest the need for the AICPA to modify current accountants' reports to communicate more clearly the nature of these engagements and to provide further education to users.
Accounting Standard-Setting Institutions and the Governance of Incomplete Contracts
Authors: King Ronald , Waymire Gregory
Published: January 2017

“A constant problem of the accounting profession lies in the development of procedures to keep pace with changing economic conditions.” Charles Couchman, President, American Institute of Accountants, 1932.1

“New and extremely difficult problems are constantly arising in the wake of innovative business techniques.” The Wheat Committee, 1972.2

“The Board recognizes that financial reporting must adapt to a world in which change is a continuing, even accelerating process.” Dennis Beresford, Chairman, Financial Accounting Standards Board, 1991.3
Determinants of the Choice between Alternative Share Repurchase Methods
Authors: Vafeas Nikos
Published: January 2017

This study provides an empirical examination of the determinants of the choice between alternative share repurchase methods. It is shown that the likelihood of selecting a self-tender offer over an open market share repurchase increases with the repurchasing firm's agency costs of free cash flow, inside ownership percentage, leverage, prebuyback stock performance, and the magnitude of cash involved in the transaction. The empirical evidence is consistent with the free cash flow, information-signaling, and managerial entrenchment hypotheses contributing toward explaining the choice of repurchase method among firms. The study concludes that the two repurchase methods appear to serve different purposes for the repurchasing firm.