How Does the Stock Market Respond to Chemical Disasters?

In this paper, we examine the stock market reaction to industrial disasters. We consider an original sample of 64 explosions in chemical plants and refineries worldwide over the period 1990-2005. A quarter of the accidents resulted in a toxic release, and half of them caused at least one death or serious injury. On average, petrochemical firms in our sample experience a drop in their market value of 1.3% over the two days immediately following the disaster. Using multivariate analysis, we show that this loss is significantly related to the seriousness of the accident as measured by the number of casualties and by chemical pollution: each casualty corresponds to a loss of $164 million and a toxic release to a loss of$1 billion.Technological risk; Event study; Environmental liability; Disclosure; Insurance

How Does the Stock Market Respond to Chemical Disasters?

International audienceIn this paper, we examine the stock market reaction to industrial disasters. We consider an original sample of 64 explosions in chemical plants and refineries worldwide over the period 1990-2005. A quarter of the accidents resulted in a toxic release, and half of them caused at least one death or serious injury. On average, petrochemical firms in our sample experience a drop in their market value of 1.3% over the two days immediately following the disaster. Using multivariate analysis, we show that this loss is significantly related to the seriousness of the accident as measured by the number of casualties and by chemical pollution: each casualty corresponds to a loss of $164 million and a toxic release to a loss of$1 billion

Analisis Pentingnya Penilaian Prestasi Kerja dalam Hubungannya dengan Peningkatan Motivasi Karyawan

Performance appraisal is one of many aspects that are very important in Human resource management. On the other hand, motivation is also vital for a Manager because it drives and directs all human behavior, including an employees performance. This short essay tries to analyze the relationship Between performance appraisal and motivation, and how performance appraisal system can enhance motivation of employees. The motivation itself is seen in the light of content and Process theorie

Experiences with a national team-based learning program for advance care planning in pediatric palliative care

Background Advance Care Planning (ACP) enables patients and relatives to define and share values, goals and preferences for future medical treatment and care. The IMplementing Pediatric Advance Care Planning Toolkit (IMPACT), developed in the Netherlands, is a method for conducting ACP in pediatric palliative care. Healthcare professionals who were trained to use IMPACT, indicated their need for ongoing support to practice ACP communication skills optimally over time. Therefore, we developed a team-based learning program aimed at teaching participants how to transfer knowledge on ACP, continue practicing ACP communication skills and reflect on ACP conversations within their own team context. The aim of this study was to evaluate the program’s transfer of knowledge as well as the professionals’ experience and team reflection on ACP. Methods A one-day IMPACT train-the-trainer course was developed and a selection of healthcare professionals (facilitators) from pediatric palliative care teams (PPCTs) from all seven Dutch university hospitals and the specialized Center for Pediatric Oncology were invited to participate. Hereafter, facilitators were asked to transfer their course-acquired knowledge to their team members (learners) by organizing two coaching-on-the-job sessions. A mixed-methods design, combining questionnaires and field notes, was used to evaluate the level of knowledge transfer and team reflection achieved. Results Eighteen healthcare professionals in the role of facilitator participated in the train-the-trainer course. In seven PPCTs one (n=3) or two (n=4) coaching-on-the-job session(s) took place, attended by 29 and 17 learners, respectively. In the questionnaires, 11 facilitators indicated that they had to some extent transferred acquired knowledge to their team members as intended. Sixteen out of 21 learners who participated in at least one coaching-on-the-job session, reported (somewhat) increased self-confidence for conducting ACP conversations. The reported main strength of the program was practicing with/learning from colleagues whereas dealing with workload and variation in existing ACP skills within PPCTs need more attention. Conclusions The newly developed team-based learning program resulted in intended transfer of knowledge and methodical reflection on ACP in coaching-on-the-job sessions in most participating PPCTs. Planning coaching-on-the-job sessions regarding ACP in pediatric palliative care with multiple healthcare professionals is challenging and needs more emphasis in the training

Accuracy of upper endoscopies with random biopsies to identify patients with gastric premalignant lesions who can safely be exempt from surveillance

Introduction: Guidelines recommend endoscopy with biopsies to stratify patients with gastric premalignant lesions (GPL) to high and low progression risk. High-risk patients are recommended to undergo surveillance. We aimed to assess the accuracy of guideline recommendations to identify low-risk patients, who can safely be discharged from surveillance. Methods: This study includes patients with GPL. Patients underwent at least two endoscopies with an interval of 1–6 years. Patients were defined ‘low risk’ if they fulfilled requirements for discharge, and ‘high risk’ if they fulfilled requirements for surveillance, according to European guidelines (MAPS-2012, updated MAPS-2019, BSG). Patients defined ‘low risk’ with progression of disease during follow-up (FU) were considered ‘misclassified’ as low risk. Results: 334 patients (median age 60 years IQR11; 48.7% ma

Non-Standard Errors

In statistics, samples are drawn from a population in a data-generating process (DGP). Standard errors measure the uncertainty in estimates of population parameters. In science, evidence is generated to test hypotheses in an evidence-generating process (EGP). We claim that EGP variation across researchers adds uncertainty: Non-standard errors (NSEs). We study NSEs by letting 164 teams test the same hypotheses on the same data. NSEs turn out to be sizable, but smaller for better reproducible or higher rated research. Adding peer-review stages reduces NSEs. We further find that this type of uncertainty is underestimated by participants

Monolithic integration of bipolar devices and radiofrequency circuits on porous silicon/silicon hybrid substrates

Le récent essor des systèmes de communication sans fil implique le développement de circuits RF performants, à fort taux d’intégration, bas coût, et adaptés à la production de masse. L’intégration monolithique de systèmes RF sur silicium permet de répondre en partie à ces critères. Cependant, le silicium est responsable de pertes dans le substrat dégradant les performances des composants passifs. Pour adresser cette limite, des caissons isolants de silicium poreux peuvent être réalisés au sein du silicium (substrat mixte). Les objectifs de cette thèse sont de montrer la faisabilité de l’intégration monolithique sur substrat mixte et d’étudier son impact sur les performances de circuits RF. Ce manuscrit décrit l’élaboration des substrats mixtes et donne une comparaison des performances de composants passifs intégrés sur silicium poreux et sur substrats standards. Enfin, l’intégration monolithique de circuits RF est menée sur substrat mixte 6’’. La caractérisation de ces démonstrateurs montre une amélioration des performances par rapport au silicium. De plus, la compatibilité du substrat mixte avec un procédé industriel de microélectronique est validée.The rapid growth of wireless systems involves the development of highly efficient, large-scale, low-cost and radio frequency (RF) systems. Monolithic integration of RF circuits on silicon can enhance the appeal of this technology further. However, in order to fully realize the next generation of system-on-chip on silicon, the losses which results in to degradation in the performances of passive components need to be addressed. This work investigates locally insulating porous silicon regions on silicon substrates, targeting highly efficient passive components. This thesis begins with a detailed description of porous silicon/silicon hybrid substrate fabrication using a novel mask. The influence of the hybrid substrate on fabricated passive device performances was studied and the results were compared to similar devices on conventional silicon substrates. Finally, monolithic integration of passive and active devices was demonstrated on 6” hybrid substrates, with performance improvements when compared with standard silicon. This work has also shown that hybrid substrates can be fully integrated into industrial scale microelectronic processes