Negative ESG Screening and Investment Returns : A Study of the Norwegian Oil Fund and Excluded Stocks

This thesis investigates whether there is a difference in stock returns for the Norwegian Oil Fund and the companies they exclude from their investment universe due to breaches of their ethical guidelines between 2006 and 2022. We analyze the returns from the excluded companies and the Oil Fund with the Fama-French five-factor model and split the excluded stocks into sub-portfolios to investigate if there is a difference in returns for sectors, markets and reason for exclusion. In addition to previous work, we also investigate if there is a correlation between the yearly returns and the ESG score for the excluded companies and the 100 largest companies in the Oil Fund measured by investment size. In line with previous research, our findings suggest that the excluded companies have outperformed the Oil Fund between 2006 and 2022. Moreover, eight out of nine sub-portfolios deliver excessive returns compared to the Oil Fund. We find that ESG scores and yearly returns are positively correlated for the excluded companies and negatively correlated for the 100 largest companies in the Oil Fund.nhhma

Recovering from a Decade: A Systematic Mapping of Information Retrieval Approaches to Software Traceability

Engineers in large-scale software development have to manage large amounts of information, spread across many artifacts. Several researchers have proposed expressing retrieval of trace links among artifacts, i.e. trace recovery, as an Information Retrieval (IR) problem. The objective of this study is to produce a map of work on IR-based trace recovery, with a particular focus on previous evaluations and strength of evidence. We conducted a systematic mapping of IR-based trace recovery. Of the 79 publications classified, a majority applied algebraic IR models. While a set of studies on students indicate that IR-based trace recovery tools support certain work tasks, most previous studies do not go beyond reporting precision and recall of candidate trace links from evaluations using datasets containing less than 500 artifacts. Our review identified a need of industrial case studies. Furthermore, we conclude that the overall quality of reporting should be improved regarding both context and tool details, measures reported, and use of IR terminology. Finally, based on our empirical findings, we present suggestions on how to advance research on IR-based trace recovery

Field Evaluation of Four Low-cost PM Sensors and Design, Development and Field Evaluation of A Wearable PM Exposure Monitoring System

To mitigate the significant biases/errors in research studying the associations between PM and health, which are introduced by the coarse/inadequate assessments of PM exposure from conventional PM monitoring paradigm, a personalized monitoring system consisting of a low-cost wearable PM device is proposed. However, due to the absence of a unifying evaluation protocol for low-cost PM sensors, the evaluation results/performance specifications from existing studies/datasheets are of limited reference values when attempting to determine the best candidate for the proposed system. In this regard, the authors appeal to the research community to develop a standardized evaluation protocol for low-cost PM sensors/devices, and a unifying attempt is established in this manuscript by adopting the definitive terminology from international documents and the evaluation metrics regarded as best practices. Collocated on the rooftop of the HKUST Supersite, four empirically selected PM sensors were compared against each other and calibrated against two reference monitors. They were then evaluated against the reference following the protocol. The PlanTower PMS-A003 sensor was selected for the wearable device as it outperformed the others in terms of affordability, portability, detection capability, data quality, as well as humidity and condensation insusceptibility. An automated approach was proposed to identify and remove the condensation associated abnormal measurements. The proposed device has better affordability and portability as well as similar usability and data accessibility compared to those existing devices recognized. The first 10 devices were also evaluated and calibrated at the Supersite. Additional 120 units were manufactured and delivered to the subjects to acquire their daily PM2.5 exposures for investigating the association with subclinical atherosclerosis

From Bugs to Decision Support – Leveraging Historical Issue Reports in Software Evolution

Software developers in large projects work in complex information landscapes and staying on top of all relevant software artifacts is an acknowledged challenge. As software systems often evolve over many years, a large number of issue reports is typically managed during the lifetime of a system, representing the units of work needed for its improvement, e.g., defects to fix, requested features, or missing documentation. Efficient management of incoming issue reports requires the successful navigation of the information landscape of a project. In this thesis, we address two tasks involved in issue management: Issue Assignment (IA) and Change Impact Analysis (CIA). IA is the early task of allocating an issue report to a development team, and CIA is the subsequent activity of identifying how source code changes affect the existing software artifacts. While IA is fundamental in all large software projects, CIA is particularly important to safety-critical development. Our solution approach, grounded on surveys of industry practice as well as scientific literature, is to support navigation by combining information retrieval and machine learning into Recommendation Systems for Software Engineering (RSSE). While the sheer number of incoming issue reports might challenge the overview of a human developer, our techniques instead benefit from the availability of ever-growing training data. We leverage the volume of issue reports to develop accurate decision support for software evolution. We evaluate our proposals both by deploying an RSSE in two development teams, and by simulation scenarios, i.e., we assess the correctness of the RSSEs' output when replaying the historical inflow of issue reports. In total, more than 60,000 historical issue reports are involved in our studies, originating from the evolution of five proprietary systems for two companies. Our results show that RSSEs for both IA and CIA can help developers navigate large software projects, in terms of locating development teams and software artifacts. Finally, we discuss how to support the transfer of our results to industry, focusing on addressing the context dependency of our tool support by systematically tuning parameters to a specific operational setting

EXPLOITING KASPAROV'S LAW: ENHANCED INFORMATION SYSTEMS INTEGRATION IN DOD SIMULATION-BASED TRAINING ENVIRONMENTS

Despite recent advances in the representation of logistics considerations in DOD staff training and wargaming simulations, logistics information systems (IS) remain underrepresented. Unlike many command and control (C2) systems, which can be integrated with simulations through common protocols (e.g., OTH-Gold), many logistics ISs require manpower-intensive human-in-the-loop (HitL) processes for simulation-IS (sim-IS) integration. Where automated sim-IS integration has been achieved, it often does not simulate important sociotechnical system (STS) dynamics, such as information latency and human error, presenting decision-makers with an unrealistic representation of logistics C2 capabilities in context. This research seeks to overcome the limitations of conventional sim-IS interoperability approaches by developing and validating a new approach for sim-IS information exchange through robotic process automation (RPA). RPA software supports the automation of IS information exchange through ISs’ existing graphical user interfaces. This “outside-in” approach to IS integration mitigates the need for engineering changes in ISs (or simulations) for automated information exchange. In addition to validating the potential for an RPA-based approach to sim-IS integration, this research presents recommendations for a Distributed Simulation Engineering and Execution Process (DSEEP) overlay to guide the engineering and execution of sim-IS environments.Major, United States Marine CorpsApproved for public release. Distribution is unlimited

Analysing artefacts dependencies to evolving software systems

Les logiciels sont en constante évolution, nécessitant une maintenance et un développement continus. Ils subissent des changements tout au long de leur vie, que ce soit pendant l'ajout de nouvelles fonctionnalités ou la correction de bogues. Lorsque les logiciels évoluent, leurs architectures ont tendance à se dégrader et deviennent moins adaptables aux nouvelles spécifications des utilisateurs. En effet, les architectures de ces logiciels deviennent plus complexes et plus difficiles à maintenir à cause des nombreuses dépendances entre les artefacts. Par conséquent, les développeurs doivent comprendre les dépendances entre les artefacts des logiciels pour prendre des mesures proactives qui facilitent les futurs changements et ralentissent la dégradation des architectures des logiciels. D'une part, le maintien d'un logiciel sans la compréhension des les dépendances entre ses artefacts peut conduire à l'introduction de défauts. D'autre part, lorsque les développeurs manquent de connaissances sur l'impact de leurs activités de maintenance, ils peuvent introduire des défauts de conception, qui ont un impact négatif sur l'évolution du logiciel. Ainsi, les développeurs ont besoin de mécanismes pour comprendre comment le changement d'un artefact impacte le reste du logiciel. Dans cette thèse, nous proposons trois contributions principales : La spécification de deux nouveaux patrons de changement et leurs utilisations pour fournir aux développeurs des informations utiles concernant les dépendances de co-changement. La spécification de la relation entre les patrons d'évolutions des artefacts et les fautes. La découverte de la relation entre les dépendances des anti-patrons et la prédisposition des différentes composantes d'un logiciel aux fautes.Program maintenance accounts for the largest part of the costs of any program. During maintenance activities, developers implement changes (sometimes simultaneously) on artefacts to fix bugs and to implement new requirements. Thus, developers need knowledge to identify hidden dependencies among programs artefacts and detect correlated artefacts. As programs evolved, their designs become more complex over time and harder to change. In the absence of the necessary knowledge on artefacts dependencies, developers could introduce design defects and faults that causes development and maintenance costs to rise. Therefore, developers must understand the dependencies among program artefacts and take proactive steps to facilitate future changes and minimize fault proneness. On the one hand, maintaining a program without understanding the different dependencies between their artefacts may lead to the introduction of faults. On the other hand, when developers lack knowledge about the impact of their maintenance activities, they may introduce design defects, which have a negative impact on program evolution. Thus, developers need mechanisms to understand how a change to an artefact will impact the rest of the programs artefacts and tools to detect design defects impact. In this thesis, we propose three principal contributions. The first contribution is two novel change patterns to model new co-change and change propagation scenarios. We introduce the Asynchrony change pattern, corresponding to macro co-changes, i.e., of files that co-change within a large time interval (change periods), and the Dephase change pattern, corresponding to dephase macro co-changes, i.e., macro co-changes that always happen with the same shifts in time. We present our approach, named Macocha, and we show that such new change patterns provide interesting information to developers. The second contribution is proposing a novel approach to analyse the evolution of different classes in object-oriented programs and to link different evolution behaviour to faults. In particular, we define an evolution model for each class to study the evolution and the co-evolution dependencies among classes and to relate such dependencies with fault-proneness. The third contribution concerns design defect dependencies impact. We propose a study to mine the link between design defect dependencies, such as co-change dependencies and static relationships, and fault proneness. We found that the negative impact of design defects propagate through their dependencies. The three contributions are evaluated on open-source programs

Cliff ecology: Extent, biota, and recreation of cliff environments in the New River Gorge, WV

The New River Gorge National River (NERI) contains an extensive network of exposed cliff-forming sandstone units, the most extensive in West Virginia and possibly within the entire Appalachian range. These cliff resources are critical to NERI\u27s national significance, and contain specialized and potentially rare plant communities (Vanderhorst 2001; Mahan 2004; Vanderhorst, Jeuck, and Gawler 2007). This project investigates the spatial distribution of cliffs, associated plant (vascular and non-vascular) and lichen communities, and the impacts to cliff environments caused by recreational rock climbing.;Using LiDAR in a GIS, we mapped all cliffs in the northern extent of NERI, from Keeney\u27s Creek to the Hawks Nest Dam. We randomly selected 36 potential cliff outcrops along gorge slopes to measure structure and inventory cliff face species along all outcrop-forming sandstones. We also sampled 111 Nuttall Sandstone cliffs desirable for rock climbing to assess impacts to cliff environments at three positions: cliff base, face, and top. We randomly selected 79 established rock climbs (experimental) stratified by climb difficulty, potential use intensity, and aspect. In addition, we selected 32 unclimbed sites (control) deemed climbable and stratified by estimated difficulty and aspect. We measured species richness, soils depths, hardened zone (compacted area) lengths, and evidence of anthropogenic disturbance to analyze recreational impacts by climb difficulty, use intensity, and climb style ( traditional or sport ).;Based on LiDAR, we estimate that there are 97 linear kilometers of exposed sandstone cliffs in the northern extent of NERI. Nuttall Sandstone differs in extent, structure and competence from the Raleigh, Guyandot, and Pineville Sandstones. Incompetent cliffs are more heterogeneous and sustain greater vascular species richness and frequency compared to sites desirable for rock climbing. Stepwise regression indicates 40% of overall cliff face species richness is determined by cliff angle and topography. We recorded 249 total species on cliff faces plus an additional 109 on cliff tops and base. Total species richness on cliff face ranges from 0 -- 49. Common cliff face plants include: Asplenium montanum Wild., Betula lenta L., Lasallia pennsylvanica (Hoffm.) Llano, Phsycia subtilis Degel., Leucobryum glaucum (Hedw.) Angstr., and Dicranella heteromalla (Hedwig) Schimper. Species of special interest include: Danthonia sericea Nutt., Dichanthelium acuminatum (Sw.) Gould & C.A. Clark ssp. columbianum, Chrysothrix susquehannensis Lendemer & Elix, Umbilicaria americana Poelt & T.H. Nash, Dicranum condensatum Hedw., and Brothera leana (Sull.) Mull. Hal.;Impacts to cliff environments from rock climbing are conditioned by climb difficulty, use intensity, and to some extent, climb style. Climb difficulty is highly correlated with cliff structure, with significant declines in topographic frequency and steeper cliff angles associated with more difficult climbs (r 2 = 0.63; P \u3c 0.01). Cliff face species richness declines with increases in climb difficulty (climbed or unclimbed) as well as with increased use intensity. A general linear model based on difficulty and use intensity explains 50% of the variability in total cliff face species richness. Of all cliff positions we investigated, cliff bases are most impacted by climbing, regardless of use intensity, difficulty, or style. Impacts to cliff tops are uncommon and are confined to low difficulty, popular, traditional climbs.;Sites desirable for rock climbing represent a subset of cliffs in NERI, differing from randomly selected and incompetent cliffs in structure and vascular richness and abundance. Rock climb difficulty (e.g., cliff structure) and use intensity are clear predictors of diversity and can be used to guide management. Future development of climbs on competent, low angle cliffs should be limited to preserve the most diverse environments. Cliff bases are the most consistently impacted, where beginner level climbs sustain the greatest impacts to soils, bryophyte species richness, and hardened zone lengths. Impacts to cliff tops are infrequent, occurring on less that 20% of sites and are confined to a subset of climbing (classified as: high use, traditional, \u3c5.9). To prevent further impacts to sensitive cliff tops, management should target current and future beginner level, highly popular, traditional style climbs and establish a perimeter to impede enhanced impacts. We suggest that trails at base and top be rerouted away from cliffs into the contiguous forest to limit unnecessary traffic along sensitive and unique cliff edges. We recommend the judicious placement of climbing anchors at moderate to high use sites, specifically placed \u3e2 m below cliff top above which height diversity is greatest. In addition, we recommend outreach to educate climbers about the negative effects of topping out (climbing on the top of the cliff rather than using anchors). Similarly, other recreational uses at cliff tops should be limited, especially trails and lookouts

Restoration of Biological Soil Crust on Disturbed Gypsiferous Soils in Lake Mead National Recreation Area, Eastern Mojave Desert

Biological soil crusts (BSCs) are sensitive to anthropogenic disturbances. Natural recovery takes many years. Active restoration decreases recovery time. Native BSC inocula, which included lichens and mosses, salvaged from gypsiferous soil habitats in Lake Mead National Recreation Area (LMNRA) in the eastern Mojave Desert were stored dry for two years and applied to disturbed soil after a road reconstruction in LMNRA and also used in laboratory experiments to test inoculation technique effectiveness. After 18 months, field results revealed positive relationships between inoculation and the presence of macroscopic BSC cover, cyanobacteria abundance, soil stability, and ammonium concentrations. Chlorophyll fluorescence monitoring of the dominant lichen Collema revealed specimens from field sites had equivalent or higher values than undisturbed specimens indicating photosynthetic recovery after salvage, storage, and field application. Laboratory slurry treatments showed significant evidence of cyanobacteria growth after eight months. The results from this thesis research have direct implications for ecosystem management

Molecular profiling of bark beetle mycobiota

No organism evolves in isolation; the symbiotic microorganisms associated with insects are key determinants of their hosts ecology and evolution. This thesis investigates the fungal communities found with bark and ambrosia beetles (Curculionidae: Scolytinae & Platypodinae) in an attempt to better understand the diversity and variability of this ecologically and economically important system. I start by assessing the efficacy of high throughput sequencing (HTS) and metabarcoding for the characterisation of fungal communities derived from whole arthropod DNA extracts (Chapter 2). I then apply this approach to understanding the biotic and abiotic determinants of beetle associated fungal taxa, and find that both beetle species identity and environmental conditions significantly predict community richness and composition (Chapter 3). In Chapter 4, I expand upon the beetle species level differences in microbial communities to show that they are driven by a relatively small subset of fungal taxa, predominantly belonging to the beetle associated Microascales, but also to the relatively unexplored Saccharomycetes. I further apply HTS to the recreation of beetle evolutionary histories using mitochondrial genomics, and test for correlations between beetle phylogenetic and mycobiotic similarities (Chapter 5). My investigations demonstrate the utility of recently developed sequencing technologies to the study of microbial symbioses and I conclude with a synthetic summary of my findings with suggestions for further research.Open Acces

Development of an adaptable model for distributed collaborative computer aided design

Master'sMASTER OF ENGINEERIN