Board Characteristics and Corporate Performance in the Netherlands

We analyze the performance-board characteristic nexus of Dutch listed firms. The Netherlands has a continental-European two-tier board structure. This makes it interesting to analyze the impact of management and supervisory board characteristics (size, composition and remuneration) on corporate performance. In Dutch corporate governance, the supervisory board plays a role in (anti-) investor protection. Subsequently, both board size and composition are variables that reflect corporate decision-making. In order to deal with this endogeneity problem, we use governance indicators such as (anti-) investor protection to endogenize board variables. Our results reveal that the size of the management board is not affecting corporate performance. We find support for a negative relationship between the supervisory board size and firm performance. Moreover, we observe a negative relationship between the proportion of supervisory board members with network ties to other organizations and performance.Corporate Governance; Firm; Firms; Governance; Management

A novel SOFC tri-generation system for building applications

In response to the critical need to decarbonise the built environment, alternative methods for more effective energy utilisation need to be explored including tri-generation systems. Tri-generation is the simultaneous generation of electricity, heating and/or cooling from a single fuel source. Solid oxide fuel cell (SOFC) and liquid desiccant demonstrate many characteristics that make them an attractive option in the development of an efficient and effective tri-generation system. SOFCs have high operational electrical efficiencies and a thermal output in good agreement with the low temperature regeneration requirement of liquid desiccants. The aim of this thesis is to design, develop and test an efficient and effective proof of concept tri-generation system based on SOFC and liquid desiccant air conditioning technology for building applications. An extensive review of the literature shows that no previous work has been reported on such a system. The research has critically examined, both theoretically and experimentally, the novel tri-generation system concept. Simulations show tri-generation system efficiencies of up to 71% are achievable at a 1.5kWe capacity, which are encouraging values for a system of this size. An integration analysis, based on empirical data, provides good agreement with the simulations. At a 1.5kWe output, a tri-generation efficiency of 69% has been demonstrated. The inclusion of liquid desiccant air conditioning provides an efficiency increase of up to 15% compared to SOFC electrical operation only, demonstrating the merit of the novel tri-generation system in applications that require simultaneous electrical power, heating and dehumidification/cooling. An experimental system, using a micro-tubular SOFC shows the novel system can generate 150W of electrical power, 443W of heat or 279W of cooling. Instantaneous tri-generation system efficiency is low at around 25%. This is primarily due to the low capacity and poor performance of the micro-tubular SOFC. Although the performance is low, the experimental results demonstrate regeneration of a potassium formate desiccant solution using the thermal output from the micro-tubular SOFC in the first of its kind tri-generation system. The thesis has established that a clear operational advantage of the novel SOFC liquid desiccant tri-generation system is the potential for nonsynchronous operation. The constant SOFC thermal output can be used to re-concentrate the desiccant solution as a form of thermal energy storage. Unlike thermal storage techniques based on sensible energy, a significant advantage of (chemical) thermal energy storage in the form of strong desiccant solution is that there are minimal losses over time. Using this nonsynchronous operating concept, the experimental system can generate an increased peak cooling output of up to 527W and a daily tri-generation efficiency of 38%. An economic assessment demonstrates questionable performance; however this is anticipated to improve with SOFC capital cost reductions. Environmental assessments establish that emission reductions of up to 51% compared to a base case system are possible, with the potential for zero carbon operation with the transition to a pure hydrogen fuel. The thesis presents the following general conclusions with respect to the novel SOFC liquid desiccant tri-generation system: (1) SOFC and liquid desiccant air conditioning are an effective technological pairing. High tri-generation efficiencies, particularly in hot and humid climates, are demonstrated; (2) appropriate matching of component capacity is necessary. Overall tri-generation system performance is more influenced by the SOFC component than the liquid desiccant; and (3) it is primarily the optimisation of the liquid desiccant component that facilitates effective tri-generation system integration and operation. The thesis proposes that future work should focus on improving the thermal agreement between the SOFC and liquid desiccant component, accompanied by field trial testing in a building context

A novel SOFC tri-generation system for building applications

In response to the critical need to decarbonise the built environment, alternative methods for more effective energy utilisation need to be explored including tri-generation systems. Tri-generation is the simultaneous generation of electricity, heating and/or cooling from a single fuel source. Solid oxide fuel cell (SOFC) and liquid desiccant demonstrate many characteristics that make them an attractive option in the development of an efficient and effective tri-generation system. SOFCs have high operational electrical efficiencies and a thermal output in good agreement with the low temperature regeneration requirement of liquid desiccants. The aim of this thesis is to design, develop and test an efficient and effective proof of concept tri-generation system based on SOFC and liquid desiccant air conditioning technology for building applications. An extensive review of the literature shows that no previous work has been reported on such a system. The research has critically examined, both theoretically and experimentally, the novel tri-generation system concept. Simulations show tri-generation system efficiencies of up to 71% are achievable at a 1.5kWe capacity, which are encouraging values for a system of this size. An integration analysis, based on empirical data, provides good agreement with the simulations. At a 1.5kWe output, a tri-generation efficiency of 69% has been demonstrated. The inclusion of liquid desiccant air conditioning provides an efficiency increase of up to 15% compared to SOFC electrical operation only, demonstrating the merit of the novel tri-generation system in applications that require simultaneous electrical power, heating and dehumidification/cooling. An experimental system, using a micro-tubular SOFC shows the novel system can generate 150W of electrical power, 443W of heat or 279W of cooling. Instantaneous tri-generation system efficiency is low at around 25%. This is primarily due to the low capacity and poor performance of the micro-tubular SOFC. Although the performance is low, the experimental results demonstrate regeneration of a potassium formate desiccant solution using the thermal output from the micro-tubular SOFC in the first of its kind tri-generation system. The thesis has established that a clear operational advantage of the novel SOFC liquid desiccant tri-generation system is the potential for nonsynchronous operation. The constant SOFC thermal output can be used to re-concentrate the desiccant solution as a form of thermal energy storage. Unlike thermal storage techniques based on sensible energy, a significant advantage of (chemical) thermal energy storage in the form of strong desiccant solution is that there are minimal losses over time. Using this nonsynchronous operating concept, the experimental system can generate an increased peak cooling output of up to 527W and a daily tri-generation efficiency of 38%. An economic assessment demonstrates questionable performance; however this is anticipated to improve with SOFC capital cost reductions. Environmental assessments establish that emission reductions of up to 51% compared to a base case system are possible, with the potential for zero carbon operation with the transition to a pure hydrogen fuel. The thesis presents the following general conclusions with respect to the novel SOFC liquid desiccant tri-generation system: (1) SOFC and liquid desiccant air conditioning are an effective technological pairing. High tri-generation efficiencies, particularly in hot and humid climates, are demonstrated; (2) appropriate matching of component capacity is necessary. Overall tri-generation system performance is more influenced by the SOFC component than the liquid desiccant; and (3) it is primarily the optimisation of the liquid desiccant component that facilitates effective tri-generation system integration and operation. The thesis proposes that future work should focus on improving the thermal agreement between the SOFC and liquid desiccant component, accompanied by field trial testing in a building context

Age and Gender Identity in the Relationship Between Minority Stress and Loneliness:A Global Sample of Sexual and Gender Minority Adults

Loneliness is prevalent among sexual minority adults and is associated with minority stress. Yet there is limited understanding of how loneliness and minority stress vary across key demographic variables. This cross-sectional study explored age and gender differences in a minority stress model linking sexual orientation marginalization to social and emotional loneliness via proximal stress (internalized homonegativity, concealment, and stigma preoccupation) and via social anxiety and inhibition. The study also assessed age and gender differences in the protective influence of LGBTQ community involvement. 7,856 sexual minority adults from 85 countries completed an online survey. They were categorized as emerging adults (18−24, n = 3,056), young adults (25−34, n = 2,193), midlife adults (35−49, n = 1,243), and older adults (50−88, n = 1,364). Gender identity groups were cisgender men (n = 4,073), cisgender women (n = 3,017), and transgender individuals (n = 766). With each successive age group, there was a lower prevalence of sexual orientation marginalization, proximal stress, social anxiety, inhibition, and emotional loneliness, along with more community involvement. Sexual orientation marginalization was more pronounced among cisgender women and, especially, transgender individuals. The latter also exhibited the most social anxiety, inhibition, loneliness, and community involvement. Proximal stress was more prevalent among cisgender men than cisgender women and transgender individuals. Multiple group structural equation modeling supported the applicability of the loneliness model across age and gender groups, with only a few variations; these mainly related to how strongly community involvement was linked to marginalization, internalized homonegativity, and social loneliness.</p

Age and Gender Identity in the Relationship Between Minority Stress and Loneliness:A Global Sample of Sexual and Gender Minority Adults

Loneliness is prevalent among sexual minority adults and is associated with minority stress. Yet there is limited understanding of how loneliness and minority stress vary across key demographic variables. This cross-sectional study explored age and gender differences in a minority stress model linking sexual orientation marginalization to social and emotional loneliness via proximal stress (internalized homonegativity, concealment, and stigma preoccupation) and via social anxiety and inhibition. The study also assessed age and gender differences in the protective influence of LGBTQ community involvement. 7,856 sexual minority adults from 85 countries completed an online survey. They were categorized as emerging adults (18−24, n = 3,056), young adults (25−34, n = 2,193), midlife adults (35−49, n = 1,243), and older adults (50−88, n = 1,364). Gender identity groups were cisgender men (n = 4,073), cisgender women (n = 3,017), and transgender individuals (n = 766). With each successive age group, there was a lower prevalence of sexual orientation marginalization, proximal stress, social anxiety, inhibition, and emotional loneliness, along with more community involvement. Sexual orientation marginalization was more pronounced among cisgender women and, especially, transgender individuals. The latter also exhibited the most social anxiety, inhibition, loneliness, and community involvement. Proximal stress was more prevalent among cisgender men than cisgender women and transgender individuals. Multiple group structural equation modeling supported the applicability of the loneliness model across age and gender groups, with only a few variations; these mainly related to how strongly community involvement was linked to marginalization, internalized homonegativity, and social loneliness.</p

An experimental investigation of a micro-tubular SOFC membrane-separated liquid desiccant dehumidification and cooling tri-generation system

This paper reports the results of experimental work carried out on a micro-tubular solid oxide fuel cell tri-generation systemthat uses the waste heat from the fuel cell for dehumidification and cooling though the integration of an open cycle liquid desiccant dehumidification and cooling system. The experimental results demonstrate regeneration of the potassium formate solution using the thermal output from the SOFC in the first of its kind tri-generation system. Optimisation has shown that a 2.2L.min-1 regenerator desiccant volumetric flow facilitates best performance.When integrated with the micro-SOFC, the open cycle desiccant system demonstrates a COP of approaching 0.7, an encouraging value for a waste heat driven cooling system of this capacity. A tri-generation performance analysis is presented which serves to demonstrate the novel system operating in a building. The system achieved an electrical efficiency of 11% and regeneration efficiency of approximately 37%. The electrical efficiency is lower than that predicted by the company supplying the micro-tubular SOFC, because the unit suffered sulphur poisoning during preliminary tests. The electrical power output decreased from 250W to 150W, which reduced the electrical efficiency from around 18% to 11% and the overall efficiency from approximately 45% to just over 37%. Low temperature (33-36°C) regeneration was demonstrated

A simulation study on performance improvement of solar assisted heat pump hot water system by novel controllable crystallization of supercooled PCMs

Domestic hot water (DHW) has a significant share in building’s energy consumption. In order to reduce this consumption, various solutions have been proposed such as controlling the system in an efficient way, using renewable sources and using phase change materials (PCM) in the system to increase heat capacity. However, this study is not only offering heat capacity improvement of the DHW storage unit but also proposing that energy efficiency can be improved by controlling the heat releasing time of the PCM. In this study, supercooled PCM tubes are placed in a water tank and charged with a solar assisted heat pump unit, these supercooled PCM tubes can then be discharged anytime when the hot water is required. In this paper, a transient thermodynamic model is built for the whole system including solar collector, heat pump, water tank with PCM and DHW demand profile. System components are modelled and a 24 h of demand profile is used in simulation for a UK home for summer and spring weather conditions. The results show that the PCM tubes effectively compensate the morning peak hot water demand and reduce daily energy consumption around 12.1% and 13.5% by shifting heating provision from immersion heater to solar heat pump

Assessment of a novel solid oxide fuel cell tri-generation system for building applications

The paper provides a performance analysis assessment of a novel solid oxide fuel cell (SOFC) liquid desiccant tri-generation system for building applications. The work presented serves to build upon the current literature related to experimental evaluations of SOFC tri-generation systems, particularly in domestic built environment applications. The proposed SOFC liquid desiccant tri-generation system will be the first-of-its-kind. No research activity is reported on the integration of SOFC, or any fuel cell, with liquid desiccant air conditioning in a tri-generation system configuration. The novel tri-generation system is suited to applications that require simultaneous electrical power, heating and dehumidification/cooling. There are several specific benefits to the integration of SOFC and liquid desiccant air conditioning technology, including; very high operational electrical efficiencies even at low system capacities and the ability to utilise low-grade thermal energy in a (useful) cooling process. Furthermore, the novel tri-generation system has the potential to increase thermal energy utilisation and thus the access to the benefits achievable from on-site electrical generation, primarily; reduced emissions and operating costs. Using empirical SOFC and liquid desiccant component data, an energetic, economic and environmental performance analysis assessment of the novel system is presented. Significant conclusions from the work include: (1) SOFC and liquid desiccant are a viable technological pairing in the development of an efficient and effective tri-generation system. High tri-generation efficiencies in the range of 68-71% are attainable. (2) The inclusion of liquid desiccant provides an efficiency increase of 9-15% compared to SOFC electrical operation only, demonstrating the potential of the system in building applications that require simultaneous electrical power, heating and/or dehumidification/cooling. (3) Compared to an equivalent base case system, the novel tri-generation system is currently only economically viable with a government’s financial support. SOFC capital cost and stack replacement are the largest inhibitors to economic viability. Environmental performance is closely linked to electrical emission factor, and thus performance is heavily country dependent. (4) The economic and environmental feasibility of the novel tri-generation system will improve with predicted SOFC capital cost reductions and the transition to clean hydrogen production

Energy, Economic and Environmental (3E) Assessments on Hybrid Renewable Energy Technology Applied in Poultry Farming

This chapter aims to design, construct and test a new and renewable heating system for fulfilling the energy demand and ameliorating the interior environment of poultry farming in the UK. This system consists of a photovoltaic/thermal module attached to the polyethylene heat exchanger integrated with a geothermal copper pipe array and heat pump. The thermal and electrical energy performance of the hybrid renewable heating system is investigated based on a numerical model and experimental test. Moreover, the economic analysis (and environmental assessment are conducted. It is concluded that the electrical energy production from the photovoltaic array could reach 11867 kWh per annum whereas the heat pump thermal output is about 30210 kWh per annum. Meanwhile, the overall gas and electrical cost of the hybrid renewable heating system are £320 and £129, which are much less than that of the gas burners system and could save £763 and £750, respectively, resulting in less than 6-year of payback period. The energy consumption of the hybrid renewable heating system could decrease about 28873 kWh, resulting in a reduction in total CO2 emission of approximately 8.3 tons, in comparison with the gas burners system

An experimental study of a novel integrated desiccant air conditioning system for building applications

To date, the application of liquid desiccant air conditioning systems in built environment applications, particularly small scale, has been limited. This is primarily due to large system size and complexity, issues of desiccant solution leakage and carry-over and equipment corrosion. As a result, a novel integrated desiccant air conditioning system (IDCS) has been developed. The system combines the regenerator, dehumidifier and evaporative inter-cooler into a single membrane based heat and mass exchanger. This paper presents an evaluation, based on experimental data, of the novel IDCS operating with a potassium formate (CHKO2) desiccant working fluid. A range of tests have been completed to characterise the performance of the dehumidifier, regenerator and complete IDCS. Cooling output in the range of 570 to 1362W and dehumidifier effectiveness in the range of 30 to 47% are presented. An issue encountered has been an imbalance between moisture removal rate in the dehumidifier and moisture addition rate in the regenerator. As a result, an adjusted thermal COP (COPth,adj) value has been calculated. COPth,adj values of 1.26 have been achieved with an average of 0.72. Electrical COP (COPel) values of 3.67 have been achieved with an average of 2.5. The work demonstrates that the novel IDCS concept is viable and has provided progressto the field of liquid desiccant air conditioning technology for building applications. Further work is required in order to address the main issue of mass imbalance between the dehumidifier and regenerator