Style migration in Europe

This paper complements the literature on style migration by examining value and size premiums throughout Europe. Information from more than 25 European markets indicates an average value premium of 9.58% per year. The primary determinants of the persistent value outperformance are: 1) value firms migrating to a neutral or growth portfolio, and 2) growth stocks migrating to neutral or value portfolios. The financial health metric F_SCORE helps uncover outperforming stocks ex ante, and provides preliminary evidence on the probability of migration, but only for small stocks

Living arrangements of older persons in 1987–2035 in Finland: trends by age, sex and educational attainment

Changes in household structure may have a major impact on the future wellbeing of older people. We evaluate changes in living arrangements of 65+ Finnish men and women from 1987 to 2011 and project living arrangements to 2035 by education level. We use an 11 per cent longitudinal sample of Finns drawn from the population registration data. We estimate proportions in various living arrangements and multi-state life table estimates of years lived in particular states. Projections are based on dynamic transition probability forecasts with constant and changing rates. We show that women more than men tend to live alone at older ages. These proportions are likely to start to decline slowly among women, particularly at 80+, but increase or stabilise among men. Apart from living with a marital or co-habiting partner, other living arrangements are growing increasingly rare. The number of basic educated older people is declining rapidly. Educational differences in living arrangements are modest among women, but among men living with a partner is more common among the higher educated. Future living arrangements of older people are strongly determined by past partnership behaviour and future changes in mortality. If life expectancy differences between men and women continue to converge, so will sex differences in the remaining years of life spent living with a partner

Software business : A short history and trends for the future

During its 70 years of existence, the software business has been following an evolution curve that can be considered typical for several fields of industrial businesses. Technological breakthroughs and innovations are typically seen as enablers for business evolution in the domain of technology and innovation management. Software, data collection, and data analysis represent a greater and greater part of the value of products and services, and today, their role is also becoming essential in more traditional fields. This, however, requires business and technology competences that traditional industries do not have. The transformation also enables new ways of doing business and opens the field for new kinds of players. Together, all this leads to transformation and new possibilities for the software industry. In this paper we study the overall trajectory of the software business, and then offer some viewpoints on the change in different elements of business models. Copyright © by the paper's authors. Copying permitted only for private and academic purposes.Peer reviewe

Comparison of novel fungal mycelia strains and sustainable growth substrates to produce humidity-resistant biocomposites

Fungal mycelia are versatile, highly productive and sustainable sources for biocomposites to replace conventional plastics. However, with only very few fungal strains that have been characterized, numerous strains still remain unexplored as potential competitors against traditional non-biodegradable materials. Moreover, the functionality of mycelium composites at commonly occurring, challenging ambient conditions such as changing humidity and temperature is not well characterized. Here we evaluated the properties of the fungal composite material produced by novel fungal strains, including Trichoderma asperellum and Agaricus bisporus, grown on oat husk and rapeseed cake after oil pressing. The results showed that the mycelium composites were hydrophobic and strong, particularly when grown on rapeseed cake. A. bisporus grown on rapeseed cake exhibited increased stiffness after humidity was successively increased and decreased. The moisture-resistance of these novel mycelium composites is encouraging for novel sustainable material solutions.Peer reviewe

Association between breastfeeding and better preserved cognitive ability in an elderly cohort of Finnish men

Background. Being breastfed in infancy has been shown to benefit neurodevelopment. However, whether the benefits persist to old age remains unclear. Methods. We examined the associations between breastfeeding and its duration on cognitive ability in young adulthood and old age, and on aging-related cognitive change over five decades. In total, 931 men from the Helsinki Birth Cohort Study born in 1934-1944 in Finland took the Finnish Defence Forces Basic Intellectual Ability Test (total and verbal, arithmetic and visuospatial subtest scores) twice, at ages 20.2 and 67.9 years, and had data on breastfeeding (yes v. no) and its duration ('never breastfed', 'up to 3', '3 to 6' and 6 or more months'). Linear and mixed model regressions tested the associations. Results. At 20.2 years, breastfed men had higher cognitive ability total and visuospatial subtest scores [mean differences (MDs) ranged between 3.0-3.9, p values <0.013], and its longer duration predicted higher cognitive ability total and arithmetic and visuospatial subtest scores (MDs ranged between 3.0 and 4.8, p values <0.039). At 67.9 years, breastfed men had higher total cognitive ability and all subtest scores (MDs ranged between 2.6 and 3.4, p values <0.044) and its longer duration predicted all cognitive ability scores (MDs ranged between 3.1 and 4.7, p values <0.050). Verbal subtest scores decreased over five decades in men who were never breastfed or were breastfed for 3 months or less, and increased in those breastfed for longer than 3 months. Conclusions. Neurodevelopmental advantages of breastfeeding and its longer duration persist into old age, and longer duration of breastfeeding may benefit aging-related change, particularly in verbal reasoning ability.Peer reviewe

Using discriminant analysis as a nucleation event classification method

More than three years of measurements of aerosol size-distribution and different gas and meteorological parameters made in Po Valley, Italy were analysed for this study to examine which of the meteorological and trace gas variables effect on the emergence of nucleation events. As the analysis method, we used discriminant analysis with non-parametric Epanechnikov kernel, included in non-parametric density estimation method. The best classification result in our data was reached with the combination of relative humidity, ozone concentration and a third degree polynomial of radiation. RH appeared to have a preventing effect on the new particle formation whereas the effects of O₃ and radiation were more conductive. The concentration of SO₂ and NO₂ also appeared to have significant effect on the emergence of nucleation events but because of the great amount of missing observations, we had to exclude them from the final analysis

Analysis of nucleation events in the European boundary layer using the regional aerosol-climate model REMO-HAM with a solar radiation-driven OH-proxy

This work describes improvements in the regional aerosol–climate model REMO-HAM in order to simulate more realistically the process of atmospheric new particle formation (NPF). A new scheme was implemented to simulate OH radical concentrations using a proxy approach based on observations and also accounting for the effects of clouds upon OH concentrations. Second, the nucleation rate calculation was modified to directly simulate the formation rates of 3 nm particles, which removes some unnecessary steps in the formation rate calculations used earlier in the model. Using the updated model version, NPF over Europe was simulated for the periods 2003–2004 and 2008–2009. The statistics of the simulated particle formation events were subsequently compared to observations from 13 ground-based measurement sites. The new model shows improved agreement with the observed NPF rates compared to former versions and can simulate the event statistics realistically for most parts of Europe

Insight on current advances in food science and technology for feeding the world population

While the world population is steadily increasing, the capacity of Earth to renew its resources is continuously declining. Consequently, the bioresources required for food production are diminishing and new approaches are needed to feed the current and future global population. In the last decades, scientists have developed novel strategies to reduce food loss and waste, improve food production, and find new ingredients, design and build new food structures, and introduce digitalization in the food system. In this work, we provide a general overview on circular economy, alternative technologies for food production such as cellular agriculture, and new sources of ingredients like microalgae, insects, and wood-derived fibers. We present a summary of the whole process of food design using creative problem-solving that fosters food innovation, and digitalization in the food sector such as artificial intelligence, augmented and virtual reality, and blockchain technology. Finally, we briefly discuss the effect of COVID-19 on the food system. This review has been written for a broad audience, covering a wide spectrum and giving insights on the most recent advances in the food science and technology area, presenting examples from both academic and industrial sides, in terms of concepts, technologies, and tools which will possibly help the world to achieve food security in the next 30 years.Peer reviewe

Modelling and simulation of flame cutting for steel plates with solid phases and melting

The goal of this work is to describe in detail a quasi-stationary state model which can be used to deeply understand the distribution of the heat in a steel plate and the changes in the solid phases of the steel and into liquid phase during the flame cutting process. We use a 3D-model similar to previous works from Thiebaud [1] and expand it to consider phases changes, in particular, austenite formation and melting of material. Experimental data is used to validate the model and study its capabilities. Parameters defining the shape of the volumetric heat source and the power density are calibrated to achieve good agreement with temperature measurements. Similarities and differences with other models from literature are discussed