The impact of environmental performance on stock prices in the green and innovative context

.This study examines the impact of environmental performance on firms' stock prices, considering the moderating effect of the green and innovative environmental context by country. Renewable energy policies, green technologies, and foreign trade form this environmental context of interest for the reduction of carbon emissions. Using a sample of 2638 firm-year observations for the firms listed in the main stock index of 16 European countries over the period of 2005–2017, we find that environmental performance is value-relevant, except during the worst years of a crisis, when it is not significant. Two elements of the green technological framework, namely, renewable energy policies and the potential transmission effect of technology through foreign trade, are valued by investors as offsetting factors of the positive effect exerted by carbon performance on the firm's value. This is consistent with the slow and costly adoption of greener technologies. However, registered green patents appear to be a turning point, showing a significant positive effect on the relationship between firms' environmental performances and their market values. Again, the crisis period interferes with deepening the negative effect of renewable energy policies and cancelling out the effect of green patents and foreign trade. On one hand, our results highlight the market's role in making inefficiencies visible and showing the potential future losses of green and innovative policies; on the other hand, the hampering interference of crisis periods must be considered by policymakers.S

IT-REHAB : Integral Telerehabilitation System

The main functionalities of the physical rehabilitation module of IT-REHAB are briefly described in this paper. IT-REHAB is a telerehabilitation system under development for patients with physical or cognitive rehabilitation needs. It supports wireless biomechanical and physiological data collection and includes advanced functionalities based on a custom-designed Medium Access (MAC) protocol for improved bandwidth utilization and an immersive user interface that incorporates virtual reality elements for a motivating experience. Moreover, it includes affective computing technologies for pain intensity estimation, wearables for easy sensor devices setting up, and real-time communication between patients and therapists

Predicting the energy consumption of heated plastic greenhouses in south-eastern Spain

[ENG] Measurements of heat consumption in a parral type greenhouse, equipped with an air-heating system, were carried out in south-eastern Spain (Almería) during the 1998/99 winter. From the daily values of heat consumption (Qd, MJ m-2 d-1) recorded in five identical greenhouses heated to different night temperature set-points (Tc), and data of minimum outside air temperature (Te,min), relationships between Qd and the temperature difference (ΔTmin = Tc – Te,min) were established. Linear regressions between Qd and ΔTmin gave satisfactory fits (R2 ranging from 0.75 to 0.83), considering that Te,min was the only input data for the model. When all data were pooled, the correlation was curvilinear, the best fit to a 2nd order polynomial being Qd = 0.049 ΔTmin 2 – 0.001 ΔTmin + 1.107 (R2 = 0.89). Validation of this model was performed using data obtained during other years, giving a fair agreement at the daily (R2 = 0.86), 10-day (R2 = 0.95) and yearly (R2 = 0.99) time scales. This simple model could be of interest to growers for decision-making related to the choice of set-point temperature and crop planning in heated greenhouses.[ESP] Se realizaron medidas de consumo de energía de la calefacción por aire caliente en invernaderos tipo parral durante la campaña 1998/99 en el sureste de España (Almería). Se determinaron relaciones adecuadas, para cinco invernaderos calentados a diferentes temperaturas nocturnas de consigna (Tc), entre los valores de consumos diarios de energía (Qd, MJ m-2 d-1) y la diferencia (ΔTmin) entre la temperatura de consigna de calefacción y la temperatura mínima exterior (Te,min). La regresión lineal entre Qd y ΔTmin fue satisfactoria (R2 varió entre 0,75 y 0,83), considerando que Te,min fue la única variable de entrada para el modelo. Cuando se analizaron todos los datos en conjunto, la correlación fue curvilínea, siendo el mejor ajuste para un polinomio de 2º orden, Qd = 0,049 ΔTmin 2 – 0,001 ΔTmin + 1,107 (R2 = 0,89). La validación de este modelo fue realizada utilizando datos de otros años, mostrando un ajuste adecuado para los periodos diarios (R2 = 0,86), 10-días (R2 = 0,95) y anuales (R2 = 0,99). Este sencillo modelo puede ser de interés para los agricultores a la hora de tomar decisiones sobre el mercado, escoger la temperatura de consigna y programar el periodo de calefacción del invernadero

Acción del 2,2-Dimetox¡propano sobre algunos nitratos de metales de transición

En la reacción del 2,2-dimetoxipropano con los nitratos de níquel (II) y cinc hexahidratados se forman los correspondientes nitratos hexametanólicos; en el caso del nitrato de hierro (III) se obtiene nitrato dimetóxido de hierro (III). Se estudian los productos obtenidos por espectrofotometría de absorción en el infrarrojo y por análisis térmico

A Review of ENSO Influence on the North Atlantic. A Non-Stationary Signal

ReviewThe atmospheric seasonal cycle of the North Atlantic region is dominated by meridional movements of the circulation systems: from the tropics, where the West African Monsoon and extreme tropical weather events take place, to the extratropics, where the circulation is dominated by seasonal changes in the jetstream and extratropical cyclones. Climate variability over the North Atlantic is controlled by various mechanisms. Atmospheric internal variability plays a crucial role in the mid-latitudes. However, El Niño-Southern Oscillation (ENSO) is still the main source of predictability in this region situated far away from the Pacific. Although the ENSO influence over tropical and extra-tropical areas is related to different physical mechanisms, in both regions this teleconnection seems to be non-stationary in time and modulated by multidecadal changes of the mean flow. Nowadays, long observational records (greater than 100 years) and modeling projects (e.g., CMIP) permit detecting non-stationarities in the influence of ENSO over the Atlantic basin, and further analyzing its potential mechanisms. The present article reviews the ENSO influence over the Atlantic region, paying special attention to the stability of this teleconnection over time and the possible modulators. Evidence is given that the ENSO–Atlantic teleconnection is weak over the North Atlantic. In this regard, the multidecadal ocean variability seems to modulate the presence of teleconnections, which can lead to important impacts of ENSO and to open windows of opportunity for seasonal predictability.We thank the Climatic Research Unit (CRU), the National Centers for Environmental Prediction (NCEP), the Met Office Hadley Centre and the US National Hurricane Center (NHC) for the Land Precipitation, reanalysis, SST and HURDAT2 datasets, respectively. Belen Rodríguez-Fonseca, Roberto Suárez-Moreno, Jorge López-Parages, Iñigo Gómara, Elsa Mohino, Teresa Losada and Antonio Castaño-Tierno are supported by the research projects PREFACE (EUFP7/2007-2013 Grant Agreement 603521) and MULCLIVAR (CGL2012-38923-C02-01-Spanish Ministry of Economy and Competitiveness). Blanca Ayarzagüena is supported by the Natural Environment Research Council (grant number NE/M006123/1). Julián Villamayor is granted through a scholarship from the MICINN—Spanish government (BES-2013-063821