bluuebunny/crossref_metadata_2025_split huggingface dataset:
The Role of The European Bank in The Energy Sector
Authors: Coleman John 
Published: January 2017

The European Bank for Reconstruction and Development was established in 1991 and is owned by the western industrialized countries, including Canada, and the former communist countries of Europe and Central Asia. Its purpose is to assist the latter countries to make the transition from command to market economies in a democratic framework. The Bank, with an initial capital of approximately US$1.2 billion, directs 60 per cent of its resources towards private enterprises and state-owned enterprises which are being privatized. The remainder of the EBRD's lending is directed to governments for infrastructure development. The EBRD's lending, now at US$1.5 to 2 billion a year, is small in relation to the investment needs of its countries of operation. As a result, the Bank tries to maximize its leverage by limiting its share in total project financing to 35 per cent and encouraging co-financing by other lenders and investors. Through its lending it tries to create a demonstration effect and to encourage institutional reforms which increase private investment flows. In the energy sector, most of the EBRD's lending has been in the oil and gas sector in Russia, but it is open for business in other sectors and in all countries of operation. Unlike other development banks, the EBRD is prepared to finance nuclear power projects, especially for improving the safety and extending the operating life of nuclear power stations built before the fall of communism. In this connection, it operates a Nuclear Safety Account established by the G-7 countries after the 1992 Munich Summit. The Bank also is prepared to finance conventional power plants where these would permit the closure of obsolete or unsafe nuclear plants. In the oil and gas sector, most of the EBRD's lending has related to private sector, joint venture projects in Russia, aimed at oilfield rehabilitation and development. Three of the eight projects done so far have involved Canadian firms, reflecting their expertise in secondary and tertiary recovery, and cold weather operations. The private sector ventures supported by the Bank normally involve joint stock companies owned 50 per cent by western partners and 50 per cent by Russian state oil companies, which are being privatized or are operating according to private sector principles. The joint stock companies make up the difference between the EBRD's financing and total project cost through equity contributions in cash and kind, and through debt financing. The EBRD adds value not simply through its own financing. Its involvement in a project promotes co-financing by other investors. Its influence on behalf of foreign and local investors can help overcome administrative and regulatory difficulties affecting projects. Furthermore, the EBRD can give potential clients the benefit of its accumulated knowledge on how to structure the deal to meet host country priorities and regulations and to benefit from the greatest possible financing from the EBRD and from other lenders and investors.
Ranges of Probable Uncertainty in Gas Resource Estimates for The Usa
Authors: Lerche I. 
Published: January 2017

Estimates have been made by ten different groups of different categories contributing to potential gas resources for the USA. The estimates are evaluated using probabilistic methods to determine both the most likely values of potential reserves (or resources) in a given category, and also to assess the range of uncertainty of each category, i.e. the volatility of each estimate. In the case of conventional existing gas fields, where the most copious and most accurate data are available from which an estimate can be constructed, the range of uncertainty is about 40%. In the cases of all other more speculative resource categories the range of uncertainty is at least 75% and as high as 160% for shale gas. Estimates of the total Lower 40 States reserves are uncertain by about 80% and for the total 50 United States by 70%. A total reserve estimate, risk-weighted inversely with the volatility of each category, would suggest a likely discoverable gas reserve of greater than 110 Tcf (90% chance), less than 260 Tcf (90% change, and probably (2/3 chance) less than about 190 Tcf. It is also 5 times as likely that the majority of this discoverable gas will be in existing and discoverable fields in the Lower 48 States together with tight sands, as compared to anywhere else in the nation or in any other category.
Crunch Mining: The Logistics of Western Canadian Export Coal Supply
Authors: Jamieson Eric D. 
Published: January 2017

Since its revitalization in 1968 the Western Canadian bituminous coal industry has operated almost exclusively in export markets. As a result, coal sales have been subject to external demand and pricing forces beyond the control of Canadian companies and governments. The recession that affected all industrialized nations in the early 1980s compounded by the world oil price collapse of 1986 initiated a period of low coal prices, intensified competition among producers and oversupply of internationally traded coal. The attritional effects of this adverse marketing regime became serious for Western Canadian metallurgical coal producers after 1989 and reached crisis proportions in 1992. Major coal industry restructuring involving corporate consolidation and substantial write-downs of financial assets quickly followed. Four companies emerged from the restructuring process with 90–95% of potentially reduced regional production capacity and appear to be in reasonably solid positions to compete viably under current marketing conditions. The next major crunch for the industry looms in 1998 when initial 15 year contracts come up for renewal at several mines and serious concerns arise over their ability to operate economically beyond then.
Empirical Characteristics of Debenture Conversions: The Issue of Equivalency
Authors: Knauf Janine B. , Vasarhelyi Miklos A. 
Published: January 2017

Stock market and corporate valuation decisions are often based on the earnings-per-share (EPS) figure. With the advent of a large number of different types of equity or semi-equity securities, the concept of common stock equivalency became essential. Despite extensive regulatory consideration, only arbitary rules came into being in the assessment of this concept. This paper empirically examines the conversion of debentures into common stock. This conversion process is divided into three types: (1) forced conversion, (2) semi-forced conversion, and (3) voluntary conversion. Nonparametric and discriminant analyses are used for hypothesis testing and conversion prediction. Statistical analysis supports simple relationships between market values and convertible debenture characteristics which were found significant in all three types of conversion.
The Implicit Criteria for the Recognition, Quantification, and Reporting of Accounting Events
Authors: Sorter George H. , Ingberman Monroe 
Published: January 2017

Professor Ingberman recently lost a 30-year valiant battle against Hodgkin's disease. During those 30 years, and despite almost continuous chemotherapy, Professor Ingberman earned his Ph.D. in mathematics from Northwestern University, writing a notable dissertation, taught mathematics, and was considered by many the best bridge theoretician in the world. A few years ago, he was persuaded to devote his rigorous analytical ability, keen insight, and high standards to research and teaching in accounting. The world of accounting theory sorely needed his talents and will miss him greatly, but not nearly as much as his colleagues and countless friends, and none as much as I, who was privileged to enjoy his friendship for almost 30 years. G.H.S. The editor wishes to associate himself with the comments of Professor Sorter concerning Professor Ingberman, and like everyone else who knew him, feels his loss keenly.
Stock Splits: Tests of the Earnings Signaling and Attention Directing Hypotheses Using Analyst Forecasts and Revisions
Authors: Doran David T. 
Published: January 2017

The major findings of this study are: (1) earnings performance of splitting firms is favorable relative to preevent longterm analyst (Value Line) forecasts; (2) analysts significantly revise earnings forecasts upward in response to stock split announcements; and (3) in the case of stock split announcing firms, there is a high correlation between future earnings performance and analyst forecast revision. These findings indicate that stock split announcements convey “permanent” earnings information to the market, and security analysts scrutinize the earnings signal at the firm specific level. The results support both the earnings signaling hypothesis and the attention directing hypothesis concerning stock split events.
The New Paradigm of Georgescu-Roegen and the Tremendous Speed of Increase in Entropy in the Modern Economic Process
Authors: Kozo Mayumi 
Published: January 2017

Inputs of low entropy resources into the economic process and outputs of high entropy waste from it are two unavoidable flows of our economic activities as long as we remain as bioeconomic beings on the earth. The true problem consists in the choice for the suitable speed of increase in entropy in the long run. The tremendous speed of increase in entropy is one of the most troublesome characteristics of modern technological systems with respect to the resource and environmental constraint menacing the existence of humans on the earth. The main purpose of this study is to clarify this characteristic both in terms of two types of physical efficiency and in terms of four variations of the law of diminishing returns. Georgescu-Roegen’s emphasis on matter as well as energy and his Fourth Law of Thermodynamics will be reinforced by these concepts. Georgescu-Roegen’s theory will be also compared with Tsuchida’s water cycle theory which emphasizes the openness of the earth with respect to energy. The implication of these two theories for the steady state of the earth is also discussed. Final section gives some implications of this study for our future economic system.
Politics, Psychology, and the Neutrality Proposition
Authors: Mevorach Baruch 
Published: January 2017

This paper provides a political-psychological explanation to the otherwise somewhat pessimistic accounts of the (structural) neutrality (invariance) proposition in the Rational Expectations (RE) money-output literature. We argue that: 1. The methodology for detecting unanticipated monetary policy, in its present form, might be flawed; 2. The political information, discussed in this paper, is of a “pure” expectational nature. This is due to the psychologically convenient limited information basis it has, and the complete lack of direct-stimuli effects, resulting from its existence in different explanatory models; 3. Existing unanticipated monetary policy should probably be partitioned into two unanticipated sources: “punishing expectations”, concerning an adjusting average metaphor, capable of apply ‘punishing expectations’ whenever economic conditions do not conform with its own egocentric welfare; and, real shocks to the system, unanticipated by both parts to the macroeconomic game, the public and policy-makers as well.
Nigeria: Economy, Finance and the Role of the Stockbroker
Authors: Abdullahi Nuruddeen A. , Wakelam Alan 
Published: January 2017

The first part deals with the financial background to the economy. The switch from an agricultural economy to one where, since 1974, oil has taken centre stage, has been dramatic. A country traumatised by civil war has left deep scars, as a result the oil boom of the 1970’s was not taken full advantage of—wastage and misallocation of revenues were characteristic of the 1970’s and 80’s. Despite this, there has been some improvement in the infrastructure as a result of public spending. The second part looks at the role of the stockbroker. As professional advisors, stockbrokers are expected to have a good understanding of the financial market. Sadly the advice that some gave to private investors was not always sound. A particular example was when a third of the sample advised their clients to borrow money for share purchase at a time when interest rates were particularly high. It is interesting to note that in spite of their strong support for deregulation of the stock market, the majority (74.1%) expressed satisfaction with the Nigerian Securities and Exchange Commission (NSEC). The authors expected the financial press to be the most important source of financial information, instead company reports took first place, possibly reflecting a lack of confidence in press reporting. 62% of the stockbrokers were ignorant of the fact that a company may declare profit even when its cashflow position is in deficit, and 22% had the misconception that listed companies were always profitable. Unlike the UK and the USA there is yet to emerge a market risk service, hence the stockbrokers have to rely on their own perceptions of market risk, and the results show that
Environment Growth and Value Revisited
Authors: Mulberg Jon 
Published: January 2017

This article returns to the debate on economic growth and the environment. It outlines two approaches to environment: the orthodox and the Austrian. The orthodox approach claims to be positivistic, and stresses objective functions. In fact positivism has an implied political theory, and objectivity leads to a policy of economic planning, not market-led solutions. The orthodox approach to environment leads to an environmental planning ‘supplement’. It is not clear why the criticisms of economic planning are invalid in environmental economics, nor why these techniques should not be extended to the rest of the economy. The Austrian school accepted that laissez-faire and positivism are incommensurable. The Austrian theory is normative and subjective, and criticises the static and unrealistic nature of the orthodox approach, but has a consequence that macroeconomic variables are meaningless. What is required is a political economy not based on ‘rational economic human’, but grounded instead in a concept of dialogic democracy, based on the concept of citizenship and community.
Ecological Efficiency, Economic Efficiency and Time Efficiency in Private Consumption
Authors: Cogoy Mario 
Published: January 2017

Consumerism is on the list of critical targets of ecological economists, but an economic theory of consumerism has still to be developed. The present paper intends to contribute to such a theory based on an institutionalist view of consumption as a social process and focussing on the interrelations between consumers as skilled social agents, infrastructures and institutions. In the present paper consumption is understood as the life-process encompassing all kinds of social activities necessary to the life-enjoyment objective of socialized and culturally determined individuals. In their consumption activities, individuals have to move between different types of institutions (the market, the firm, the state, personal relations, etc.) with the aim of successfully organizing their life-processes. Consumers are therefore potentially creative and consumption may become an important source of social and environmental innovation. Innovative behaviour involves a change in the relationship between consumers, infrastructures and institutions and its outcome may be evaluated under different criteria. The present paper suggests a comparison of three types of efficiency: ecological, economic and time efficiency. In order to illustrate the here proposed view, some environmental problems of the transportation system are discussed.
Activated Carbon as an Adsorbent for the Separation of Low-Molecular Weight Alkyl Halides from Ground Water in the Production of Drinking Water. II. The Relationship between the Adsorption Capacity for Trichloroethene of Virgin and Regenerated Activated Carbons, and Their Achievement in the Purification of Deep-Well Ground Water
Authors: Roncken Th. , Roebers A. , Hopman R. , de Ligny C.L. , Dekker B.G. , Van der Laan J. , Kruithof J.C. 
Published: January 2017

Activated carbon can be used for the separation of trichloroethene from contaminated deep-well ground water. When the activated carbon has become saturated with trichloroethene, it may be regenerated (i.e., purified from trichloroethene) by the manufacturer. After regeneration, it can be used again. It is shown that the activated carbon deteriorated gradually upon regeneration. Successive regenerations became necessary after ever-decreasing time intervals, and the amount of trichloroethene adsorbed from the ground water decreased gradually. It appears that the efficiency in the separation of trichloroethene from ground water of the regenerated activated carbons is proportional to their adsorption capacity for trichloroethene at equilibrium. This relationship can be used to predict the efficiency of a charge of regenerated activated carbon in the separation of trichloroethene from deep-well ground water.
Tungsten Adsorption on to Alumina from Ammonium Meta- and Para-Tungstate Solutions — UV-Visible Spectra of the Solutions
Authors: Pizzio L.R. , Cáceres C.V. , Blanco M.N. 
Published: January 2017

The species in solutions used during tungsten adsorption on to alumina from ammonium meta- and para-tungstate solutions have been studied by UV-visible spectroscopy. For metatungstate, the spectra of the impregnant solution placed in contact with alumina and of the solutions corresponding to the dissolution pH and pH- were measured as a function of time. In all the cases, the intensity of the band corresponding to metatungstate decreased with time. The spectra of paratungstate B solutions placed in contact with alumina as a function of time were very different from those of paratungstate solutions maintained at the dissolution pH and at pH = 8.5. However, these latter spectra were similar to those obtained for metatungstate solution placed in contact with alumina. The decrease was more rapid for the solution which had been in contact with alumina relative to that to which ammonia had been added (pH = 9). In both cases, the variation in intensity with time was greater than that recorded for the metatungstate solution maintained at the dissolution pH. The observed fraction of metatungstate transformed depended not only on the solution pH but also on the presence of an additional effect due to the interaction of metatungstate ions and alumina. Only the monomeric species WO2-4 was present in a solution which had been placed in contact with alumina for 24 h. During impregnation of an alumina support with paratungstate B and ammonium metatungstate solution, the species adsorbed is the monomer while the metatungstate fraction which does not interact with alumina is slowly transformed to the WO2-4 species.
Influence of the Nature of the Non-Framework Cations on the Sorption Properties of Natural Stilbite
Authors: Kasture M.W. , Joshi P.N. , Joshi V.V. , Choudhari A.L. , Mirajkar S.P. , Shiralkar V.P. 
Published: January 2017

A natural zeolite of stilbite type, collected from the Deccan traps (Aurangabad, M.S., India), has been investigated for its selectivity sequence in exchanging extra-framework cations for the first time, using Ca2+, Sr2+, Ba2+, Mg2+, Na+ and Ag+ cations as the probe cations. The different cation-exchanged forms were characterised by X-ray powder diffraction, IR spectroscopy, TG/DTA, chemical analysis and water sorption capacity. Water sorption isotherms in the temperature range 303–393 K were obtained as a function of different non-framework cations up to a pressure of 22 Torr. The sorption data were analysed in terms of different sorption models. The characteristics and population of the non-framework cations were found to influence the chemical affinity for water sorbate almost in a similar trend.
An in Vitro Model for the Molecular Investigation of Varicose Veins: Use of Cultured Explants of Human Long Saphenous Vein
Authors: Hollingsworth S. J. , Tang C. Bong , Barker S. G. E. 
Published: January 2017

Objective: To develop an in vitro model from explants of human varicose veins (VVs). Procedures: Segments of VVs were cultured for up to 14 days with 30% fetal calf serum. At 7 and 14 days, segments were analysed for changes in intima:media thickness and by immunohistochemistry. Comparisons were made with VVs at isolation and cultured explants of normal vein. Results: At isolation, VVs had a significantly thicker intima than normal veins ( p<0.001). By day 7 in culture, normal veins developed a significant (smooth muscle cell-derived) ‘neo-intima’ ( p<0.006). In contrast, in VVs there was little change in the intima but a significant increase in the thickness of the media ( p<0.001). Following 14 days in culture, both the neo-intima in normal veins and thickened media in VVs had regressed. Overall, there was a reduction in the intima:media ratio in VVs by day 14 ( p<0.03). Conclusions: Segments of VVs can be maintained in culture for up to 14 days without developing a neo-intima and may provide a suitable model to investigate mechanisms underlying the chronic venous insufficiency of varicosity.
The ‘Wound Boot’: A Preliminary Assessment of a Novel Device for the Management of Leg Ulcers
Authors: Barker S. G. E. , Cooper D. G. , Ahmed A. , Agu O. , Challoner E. J. , Hollingsworth S. J. 
Published: January 2017

Objective: A preliminary assessment of a novel device, the ‘wound boot’, in the management of leg ulcers. Procedures: Eight subjects with ulcers wore the boot for 5–14 days. Ulcers were cleaned with saline only. No other dressings were applied. Questionnaires examined comfort and ease of use and asked for suggestions for modifications. Additionally, nurses examined ‘time taken to clean and dress ulcers’ in comparison with standard dressings. Although not a primary end-point, ulcer healing was noted. Results: For all, the boot was comfortable, easy to use and preferable to standard dressings. Ulcer-associated odour was eliminated entirely. A significant reduction was seen in the nursing time taken to clean and dress ulcers. Occasionally, excess exudate was problematic, with the boot's absorptive materials insufficient. In two cases, where the ‘boot’ was applied for 14 days, significant wound healing was seen. Conclusions: The prototype ‘boot’ helped significantly in leg ulcer management. Modifications based upon this assessment will allow a second prototype to be evaluated fully.
Subfascial Endoscopic Perforator Surgery is More Cost-Effective Than Compression Bandaging for Healing Venous Ulcers
Authors: Huang A. , Edwards N. , McWhinnie D. L. 
Published: January 2017

Objective: To determine whether subfascial endoscopic perforator surgery (SEPS) is more cost-effective than compression bandaging for healing venous ulcers. Design: Cost analyses based on theoretical patients supposing the two methods are equally effective in healing venous ulcers. Setting: District hospital. Patients: A theoretical population of 200 patients with unilateral leg ulceration due to incompetent perforating veins. Intervention: The cost of SEPS was calculated based on outpatient visits, investigations and surgery including complications, with varying failure and re-ulceration rates. The cost of compression bandaging was estimated from published data and compared with that of SEPS. Results: The average cost per patient undergoing SEPS was £723. In 100 patients with an operative failure rate of 2% and a 10% re-ulceration rate, the cost increased to £818/patient in the first year (£16/ulcer-free week). A re-ulceration rate of 35% increased the cost to £23/ulcer-free week. However, the cost of compression bandage was £33/ulcer-free week using the same model, with healing rates of 50–70% at 20–40 weeks and a recurrence rate of 18–30% at 30–40 weeks. Conclusion: In a theoretical model SEPS was more cost-effective in healing venous ulcers due to incompetent perforators compared with compression bandaging.