5,694 research outputs found

    Corporate Social Responsibility: the institutionalization of ESG

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    Understanding the impact of Corporate Social Responsibility (CSR) on firm performance as it relates to industries reliant on technological innovation is a complex and perpetually evolving challenge. To thoroughly investigate this topic, this dissertation will adopt an economics-based structure to address three primary hypotheses. This structure allows for each hypothesis to essentially be a standalone empirical paper, unified by an overall analysis of the nature of impact that ESG has on firm performance. The first hypothesis explores the evolution of CSR to the modern quantified iteration of ESG has led to the institutionalization and standardization of the CSR concept. The second hypothesis fills gaps in existing literature testing the relationship between firm performance and ESG by finding that the relationship is significantly positive in long-term, strategic metrics (ROA and ROIC) and that there is no correlation in short-term metrics (ROE and ROS). Finally, the third hypothesis states that if a firm has a long-term strategic ESG plan, as proxied by the publication of CSR reports, then it is more resilience to damage from controversies. This is supported by the finding that pro-ESG firms consistently fared better than their counterparts in both financial and ESG performance, even in the event of a controversy. However, firms with consistent reporting are also held to a higher standard than their nonreporting peers, suggesting a higher risk and higher reward dynamic. These findings support the theory of good management, in that long-term strategic planning is both immediately economically beneficial and serves as a means of risk management and social impact mitigation. Overall, this contributes to the literature by fillings gaps in the nature of impact that ESG has on firm performance, particularly from a management perspective

    Extended mixed integer quadratic programming for simultaneous distributed generation location and network reconfiguration

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    Introduction. To minimise power loss, maintain the voltage within the acceptable range, and improve power quality in power distribution networks, reconfiguration and optimal distributed generation placement are presented. Power flow analysis and advanced optimization techniques that can handle significant combinatorial problems must be used in distribution network reconfiguration investigations. The optimization approach to be used depends on the size of the distribution network. Our methodology simultaneously addresses two nonlinear discrete optimization problems to construct an intelligent algorithm to identify the best solution. The proposed work is novel in that it the Extended Mixed-Integer Quadratic Programming (EMIQP) technique, a deterministic approach for determining the topology that will effectively minimize power losses in the distribution system by strategically sizing and positioning Distributed Generation (DG) while taking network reconfiguration into account. Using an efficient Quadratic Mixed Integer Programming (QMIP) solver (IBM ®), the resulting optimization problem has a quadratic form. To ascertain the range and impact of various variables, our methodology outperforms cutting-edge algorithms described in the literature in terms of the obtained power loss reduction, according to extensive numerical validation carried out on typical IEEE 33- and 69-bus systems at three different load factors. Practical value. Examining the effectiveness of concurrent reconfiguration and DG allocation versus sole reconfiguration is done using test cases. According to the findings, network reconfiguration along with the installation of a distributed generator in the proper location, at the proper size, with the proper loss level, and with a higher profile, is effective.  Вступ. Для мінімізації втрат потужності, підтримки напруги в допустимому діапазоні та покращення якості електроенергії у розподільчих мережах представлена реконфігурація та оптимальне розміщення розподіленої генерації. При дослідженнях реконфігурації розподільної мережі необхідно використовувати аналіз потоку потужності та передові методи оптимізації, які можуть вирішувати серйозні комбінаторні проблеми. Підхід до оптимізації, що використовується, залежить від розміру розподільної мережі. Наша методологія одночасно вирішує дві задачі нелінійної дискретної оптимізації, щоби побудувати інтелектуальний алгоритм для визначення найкращого рішення. Пропонована робота є новою, оскільки вона використовує метод розширеного змішано-цілочисельного квадратичного програмування (EMIQP), детермінований підхід до визначення топології, що ефективно мінімізує втрати потужності в системі розподілу за рахунок стратегічного визначення розмірів та позиціонування розподіленої генерації (DG) з урахуванням реконфігурації мережі. При використанні ефективного солвера Quadratic Mixed Integer Programming (QMIP) (IBM®) результуюча задача оптимізації має квадратичну форму. Щоб з'ясувати діапазон та вплив різних змінних, наша методологія перевершує передові алгоритми, описані в літературі, з точки зору одержаного зниження втрат потужності, згідно з великою числовою перевіркою, проведеною на типових системах з шинами IEEE 33 і 69 при трьох різних коефіцієнтах навантаження. Практична цінність. Вивчення ефективності одночасної реконфігурації та розподілу DG у порівнянні з єдиною реконфігурацією проводиться з використанням тестових прикладів. Відповідно до результатів, реконфігурація мережі разом із установкою розподіленого генератора в потрібному місці, належного розміру, з належним рівнем втрат і з більш високим профілем є ефективною

    A Decision Support System for Economic Viability and Environmental Impact Assessment of Vertical Farms

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    Vertical farming (VF) is the practice of growing crops or animals using the vertical dimension via multi-tier racks or vertically inclined surfaces. In this thesis, I focus on the emerging industry of plant-specific VF. Vertical plant farming (VPF) is a promising and relatively novel practice that can be conducted in buildings with environmental control and artificial lighting. However, the nascent sector has experienced challenges in economic viability, standardisation, and environmental sustainability. Practitioners and academics call for a comprehensive financial analysis of VPF, but efforts are stifled by a lack of valid and available data. A review of economic estimation and horticultural software identifies a need for a decision support system (DSS) that facilitates risk-empowered business planning for vertical farmers. This thesis proposes an open-source DSS framework to evaluate business sustainability through financial risk and environmental impact assessments. Data from the literature, alongside lessons learned from industry practitioners, would be centralised in the proposed DSS using imprecise data techniques. These techniques have been applied in engineering but are seldom used in financial forecasting. This could benefit complex sectors which only have scarce data to predict business viability. To begin the execution of the DSS framework, VPF practitioners were interviewed using a mixed-methods approach. Learnings from over 19 shuttered and operational VPF projects provide insights into the barriers inhibiting scalability and identifying risks to form a risk taxonomy. Labour was the most commonly reported top challenge. Therefore, research was conducted to explore lean principles to improve productivity. A probabilistic model representing a spectrum of variables and their associated uncertainty was built according to the DSS framework to evaluate the financial risk for VF projects. This enabled flexible computation without precise production or financial data to improve economic estimation accuracy. The model assessed two VPF cases (one in the UK and another in Japan), demonstrating the first risk and uncertainty quantification of VPF business models in the literature. The results highlighted measures to improve economic viability and the viability of the UK and Japan case. The environmental impact assessment model was developed, allowing VPF operators to evaluate their carbon footprint compared to traditional agriculture using life-cycle assessment. I explore strategies for net-zero carbon production through sensitivity analysis. Renewable energies, especially solar, geothermal, and tidal power, show promise for reducing the carbon emissions of indoor VPF. Results show that renewably-powered VPF can reduce carbon emissions compared to field-based agriculture when considering the land-use change. The drivers for DSS adoption have been researched, showing a pathway of compliance and design thinking to overcome the ‘problem of implementation’ and enable commercialisation. Further work is suggested to standardise VF equipment, collect benchmarking data, and characterise risks. This work will reduce risk and uncertainty and accelerate the sector’s emergence

    Review of Methodologies to Assess Bridge Safety During and After Floods

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    This report summarizes a review of technologies used to monitor bridge scour with an emphasis on techniques appropriate for testing during and immediately after design flood conditions. The goal of this study is to identify potential technologies and strategies for Illinois Department of Transportation that may be used to enhance the reliability of bridge safety monitoring during floods from local to state levels. The research team conducted a literature review of technologies that have been explored by state departments of transportation (DOTs) and national agencies as well as state-of-the-art technologies that have not been extensively employed by DOTs. This review included informational interviews with representatives from DOTs and relevant industry organizations. Recommendations include considering (1) acquisition of tethered kneeboard or surf ski-mounted single-beam sonars for rapid deployment by local agencies, (2) acquisition of remote-controlled vessels mounted with single-beam and side-scan sonars for statewide deployment, (3) development of large-scale particle image velocimetry systems using remote-controlled drones for stream velocity and direction measurement during floods, (4) physical modeling to develop Illinois-specific hydrodynamic loading coefficients for Illinois bridges during flood conditions, and (5) development of holistic risk-based bridge assessment tools that incorporate structural, geotechnical, hydraulic, and scour measurements to provide rapid feedback for bridge closure decisions.IDOT-R27-SP50Ope

    Metaphors of London fog, smoke and mist in Victorian and Edwardian Art and Literature

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    Julian Wolfreys has argued that after 1850 writers employed stock images of the city without allowing them to transform their texts. This thesis argues, on the contrary, that metaphorical uses of London fog were complex and subtle during the Victorian and Edwardian periods, at least until 1914. Fog represented, in particular, formlessness and the dissolution of boundaries. Examining the idea of fog in literature, verse, newspaper accounts and journal articles, as well as in the visual arts, as part of a common discourse about London and the state of its inhabitants, this thesis charts how the metaphorical appropriation of this idea changed over time. Four of Dickens's novels are used to track his use of fog as part of a discourse of the natural and unnatural in individual and society, identifying it with London in progressively more negative terms. Visual representations of fog by Constable, Turner, Whistler, Monet, Markino, O'Connor, Roberts and Wyllie and Coburn showed an increasing readiness to engage with this discourse. Social tensions in the city in the 1880s were articulated in art as well as in fiction. Authors like Hay and Barr showed the destruction of London by its fog because of its inhabitants' supposed degeneracy. As the social threat receded, apocalyptic scenarios gave way to a more optimistic view in the work of Owen and others. Henry James used fog as a metaphorical representation of the boundaries of gendered behaviour in public, and the problems faced by women who crossed them. The dissertation also examines fog and individual transgression, in novels and short stories by Lowndes, Stevenson, Conan Doyle and Joseph Conrad. After 1914, fog was no more than a crude signifier of Victorian London in literature, film and, later, television, deployed as a cliche instead of the subtle metaphorical idea discussed in this thesis

    Quantifying the Indirect Effect of Wolves on Aspen in Northern Yellowstone National Park: Evidence for a Trophic Cascade?

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    Yellowstone National Park is renowned for its incredible wildlife, and perhaps the most famous of these species is the gray wolf, which was reintroduced to the Park in the mid-1990s. After reintroduction, it was highly publicized by scientists, journalists, and environmentalists that the wolf both decreased elk density and changed elk behavior in a way that reduced elk effects on plants, a process known as a “trophic cascade.” Aspen, which is eaten by elk in winter, is one species at the forefront of Yellowstone trophic cascade research because it has been in decline across the Park for over a century. However, due to the challenges of measuring trophic cascades, there is continued uncertainty regarding the effects of wolves on aspen in northern Yellowstone. Thus, the purpose of my dissertation was to provide a comprehensive test of a trophic cascade in this system. Specifically, I used 20 years of data on aspen, elk, and wolves in Yellowstone to: 1) clarify annual trends in browsing and height of young aspen (a proxy for regeneration) after wolf reintroduction, 2) assess the influence of wolves scaring elk on aspen (“trait-mediated indirect effects”), and 3) evaluate the effect of wolves killing elk on aspen (“density-mediated indirect effects”). My research suggests that wolves indirectly contributed to increased aspen over story recruitment following their reintroduction by helping to reduce the elk population size, but elk response to the risk of wolf predation did not reduce elk foraging in a way that measurably increased aspen recruitment. Additionally, hunter harvest of elk north of the park was twice as important as wolf predation in causing increased aspen recruitment. However, despite wolves and hunters limiting elk abundance, it is still uncommon for young aspen to grow past peak browsing height (120-cm), indicating that many stands remain vulnerable to elk herbivory nearly 30 years after wolf reintroduction. These results highlight that the strength and mechanism of predator effects on plant communities are context-specific. Thus, using predator reintroduction as a tool for ecosystem restoration without considering the many factors that shape trophic cascades may result in different management and conservation outcomes than intended

    Management controls, government regulations, customer involvement: Evidence from a Chinese family-owned business

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    This research reports on a case study of a family-owned elevator manufacturing company in China, where management control was sandwiched between the state policies and global customer production requirements. By analysing the role of government and customer, this thesis aimed to illustrate how management control operated in a family-owned business and to see how and why they do management control differently. In particular, it focused on how international production standards and existing Chinese industry policies translated into a set of the management control practices through a local network within the family-owned business I studied. Based on an ethnographic approach to research, I spent six months in the field, conducted over 30 interviews, several conservations, and reviewed relevant internal documents to understand how management control (MC) techniques with humans cooperated in the company. I also understood how two layers of pressure have shaped company behaviour, and how a company located in a developing country is connecting with global network. I also found there is considerable tension among key actors and investigated how the company responded and managed it. Drawing on Actor Network Theory (ANT), I analysed the interviews from key actors, examined the role of government regulations and customer requirements to see how management control being managed under two layers of pressure, i.e., the government regulations (e.g., labour, tax, environment control) and customer requirement (e.g., quality and production control). Management controls were an obligatory passage point (OPP), and transformation of those elements of Western production requirements and government requirements arrived at the Chinese local factory and influenced management control and budgeting. The findings suggest that management control systems are not only a set of technical procedures, but it is also about managing tensions. This understanding shows a linear perspective on MC practices rather than a social perspective. However, when we use ANT as a theoretical perspective, we see those actors who, being obliged and sandwiched, and controlled by external forces for them to follow. Consequently, human actors must work in an unavoidable OPP. This is the tension they face which constructed mundane practices of MC. Hence, MCs are managing such tensions. This study contributes to management control research by analysing management controls in terms of OPP, extends our understanding by illustrating the role of the government and customers, and our understanding of family-owned business from a management controls perspective in a developing country

    A productive response to legacy system petrification

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    Requirements change. The requirements of a legacy information system change, often in unanticipated ways, and at a more rapid pace than the rate at which the information system itself can be evolved to support them. The capabilities of a legacy system progressively fall further and further behind their evolving requirements, in a degrading process termed petrification. As systems petrify, they deliver diminishing business value, hamper business effectiveness, and drain organisational resources. To address legacy systems, the first challenge is to understand how to shed their resistance to tracking requirements change. The second challenge is to ensure that a newly adaptable system never again petrifies into a change resistant legacy system. This thesis addresses both challenges. The approach outlined herein is underpinned by an agile migration process - termed Productive Migration - that homes in upon the specific causes of petrification within each particular legacy system and provides guidance upon how to address them. That guidance comes in part from a personalised catalogue of petrifying patterns, which capture recurring themes underlying petrification. These steer us to the problems actually present in a given legacy system, and lead us to suitable antidote productive patterns via which we can deal with those problems one by one. To prevent newly adaptable systems from again degrading into legacy systems, we appeal to a follow-on process, termed Productive Evolution, which embraces and keeps pace with change rather than resisting and falling behind it. Productive Evolution teaches us to be vigilant against signs of system petrification and helps us to nip them in the bud. The aim is to nurture systems that remain supportive of the business, that are adaptable in step with ongoing requirements change, and that continue to retain their value as significant business assets
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