Agency problems and capital expenditure announcements

This article examines the market valuation of announcements of new capital expenditure. Prior research suggests that the firm's growth opportunities and cash flow position condition the market response. This study jointly examines the role of growth and cash flow, and the interaction between them. Using a new data set of Australian firms that avoids problems associated with expectations models, the results are remarkably strong and support a positive association between growth opportunities and the market valuation, in addition to supporting the role of free cash flow. The findings have implications for the relationship between general investment information and stock prices

Life Cycle Sustainability Assessment Study of Conventional and Prefabricated Construction Methods: MADM Analysis

Lately, many governments have been significantly promoting modular building instead of conventional as a practical solution toward enhancing sustainability in the construction sector. Therefore, this research aims to compare traditional and modular building construction to find each environmental and cost difference as a criterion for comparison. This study’s life cycle sustainability assessment comprises embodied energy, greenhouse gas (GHG), and cost. The result showed that the steel modular has the lowest embodied energy and carbon emission following conventional steel construction. For traditional construction, 28% of GHG emissions are related to on-site activity, while PPVC is less than 1%. However, the development of the factory is about 11% of the total construction emission for PPVC. On the other hand, the concrete, conventional method has a lower construction cost following by concrete modular. The transportation cost of modular building is responsible for up to 13% of the total construction cost. While the conventional building has a higher worker wage by 11%, compare to modular construction. Multi-attributes decision making (MADM) using WASPAS has been applied to reveal the best construction material and method. The result showed that steel modular is the best option for construction

Blue Swimmer Crab ( Portunus armatus ) and Sand Crab ( Ovalipes australiensis ) Resource in the South Coast Bioregion of Western Australia

The blue swimmer crab (Portunus armatus) is found along the entire coastline of Western Australia (WA) in a range of estuarine, inshore and continental shelf areas (\u3c50 m). In the South Coast Bioregion (SCB), blue swimmer crabs are retained as by-product in commercial nets of the 25 licences operating in the South Coast Estuarine Managed Fishery (SCEMF) and targeted by purpose-designed crab traps allocated to fishers in Princess Royal and Oyster Harbours in Albany

Blue Swimmer Crab ( Portunus armatus ) Resource in the West Coast Bioregion, Western Australia Part 2: Warnbro Sound, Comet Bay, Mandurah to Bunbury, Leschenault Estuary, Geographe Bay an d Hardy Inlet

Blue swimmer crabs (Portunus armatus) are found along the entire coastline of Western Australia in a range of estuarine, inshore and continental shelf environments (\u3c50 m). Crab fisheries in the West Coast Bioregion are centred in the estuaries and coastal embayments from the Swan-Canning Estuary south to Geographe Bay. Major commercial and recreational fisheries in this Bioregion include the Cockburn Sound Crab Managed Fishery, the Swan-Canning Estuary Crab Fishery (Area 1 of the West Coast Estuarine Managed Fishery), and the Peel-Harvey Crab Fishery (Area 2 of the West Coast Estuarine Managed Fishery). Refer to Johnston et al. (2020b) for detailed information on these fisheries

Economic and environmental life cycle perspectives on two engineered wood products: Comparison of LVL and GLT construction materials

The embodied carbon of building materials and the energy consumed during construction have a significant impact on the environmental credentials of buildings. The structural systems of a building present opportunities to reduce environmental emissions and energy. In this regard, mass timber materials have considerable potential as sustainable materials over other alternatives such as steel and concrete. The aim of this investigation was to compare the environment impact, energy consumption, and life cycle cost (LCC) of different wood-based materials in identical single-story residential buildings. The materials compared are laminated veneer lumber (LVL) and glued laminated timber (GLT). GLT has less global warming potential (GWP), ozone layer depletion (OLD), and land use (LU), respectively, by 29%, 37%, and 35% than LVL. Conversely, LVL generally has lower terrestrial acidification potential (TAP), human toxicity potential (HTP), and fossil depletion potential (FDP), respectively, by 30%, 17%, and 27%. The comparative outcomes revealed that using LVL reduces embodied energy by 41%. To identify which of these materials is the best alternative, various environmental categories, embodied energy, and cost criteria require further analysis. Therefore, the multi-criteria decision-making (MCDM) method has been applied to enable robust decision-making. The outcome showed that LVL manufacturing using softwood presents the most sustainable choice. These research findings contribute to the body of knowledge about the use of mass timber in construction

Blue Swimmer Crab ( Portunus armatus ) and Mud Crab Scylla serrata and Scylla olivacea ) Resources in the North Coast and Gascoyne Coast Bioregions, Western Australia

Blue swimmer crab (Portunus armatus) are found along the entire Western Australia (WA) coast, in a range of estuarine, inshore and continental shelf areas (\u3c50 m). In the North Coast Bioregion (NCB), commercial fishing primarily occurs as part of the Pilbara Crab Managed Fishery (PCMF) which spans the inshore waters from Onslow through to Port Hedland, with most fishing activity taking place around Nickol Bay

Blue Swimmer Crab ( Portunus armatus ) Resource in the West Coast Bioregion, Western Australia Part 1: Peel Harvey Estuary, Cockburn Sound and Swan Canning Estuary

Blue swimmer crabs (Portunus armatus) are found along the entire coastline of Western Australia in a range of estuarine, inshore and continental shelf areas (\u3c50 m). In the West Coast Bioregion (WCB), crab fisheries are centred in estuaries and coastal embayments from Geographe Bay to the Swan River. Commercial fisheries include the Cockburn Sound Crab Managed Fishery (CSCMF), the Warnbro Sound Crab Managed Fishery, the Swan-Canning Estuary (SCE) Crab Fishery (Area 1 of the West Coast Estuarine Managed Fishery (WCEMF)), Peel-Harvey Crab Fishery (Area 2 of the WCEMF), Hardy Inlet (Area 3 of the WCEMF) and the Mandurah to Bunbury Developing Crab Fishery (Area 1, Comet Bay and Area 2, Mandurah-Bunbury)