On Incentives for Sustainable Investments

There is a trend among institutional investors to split their assets between index-managers and specialists. The specialist mandates are typically delegated to specialist asset managers, who are assumed to generate "alpha", take on large risks and whose remuneration is performance based. In this paper, we will study how the optimal behavior of the specialist manager will depend on the remuneration structure.Incentives; portfolio choice; sustainable investments; value function

Structural Response With Regard to Explosions

When a structure is subjected to an explosion, it will have a response that differs from the one that arises from a static load. Engineers are used to design for static loads but the common knowledge of how to design for explosions is weak. There are guidelines for how to design for explosions with simplified methods but they are partly outdated and the explanation of how they are derived is vague. This Master thesis compiles some of the most important guidelines and explains the underlying theory. In order to understand the structural response one must first study basic theory of explosions, different material behaviours and basic dynamics, which are also presented in the thesis. A structure can be simplified by transformation into a single degree of freedomsystem(SDOF-system), and the reliability of such an SDOF-system is evaluated within this thesis. The SDOF-system is created by using a system point where the maximum displacement will occur, and it is compared to hand calculations for the maximum values and to non-linear finite element analyses. The SDOF-model assumes a specific deflection shape which is taken into account by using certain transformation factors. The simplified methods of calculating the structural response are presented in general, but the examples are made for reinforced concrete beams as these, due to their high mass and ductile behaviour, often are used as protection from explosions. Since no actual tests could be performed to collect empirical data about the response, FE-analyses are performed with the finite element software ADINA and even for a complex material such as concrete these analyses are assumed to represent the actual response of a structure. In order to speed up the analyses, adequate simplifications of the motion can be described with mode superposition, and the effectiveness of these simplifications is shown in the thesis. When the mode superposition-analysis is made with only one mode, the results can verify the accuracy of the SDOF-model. When designing structures it is important that the calculations are on the safe side to minimize the risk of damage and above all, failure, and therefore damping is often neglected as it is both easier to calculate without it and the results will be on the safe side. However, in order to get more accurate results the damping should also be included and therefore different approaches for this are described. For impulse loads the moments near the supports are initially larger than for a static load which could pose a problem when the reinforcement is shortened in these areas. In this Master thesis the response for curtailed concrete beams is studied

Analysis of vehicle acceleration and cornering performance with the Direction Sensitive Locking Differential (DSLD)

The purpose of this Master's Thesis was to, through simulations, evaluate the advantages of the Direction Sensitive Locking Differential, DSLD, in various driving situations. The purpose was also to simulate situations that indicates possible risks of a mechanically locked differential. A vehicle model with chassis and drivetrain and a driver model that can follow a predefined path and given speed curves were developed in MATLAB/Simulink. Then a number of driving situations were simulated in MATLAB/Simulink showing different effects of the DSLD and how it affected the performance and maneuverability of the vehicle. The results of the simulations show that the DSLD preferably is positioned on the front axle in a four wheel driven vehicle and the DSLD makes the largest dierence in cornering ability and acceleration in a front wheel driven vehicle. The DSLD will both contribute to produce more power/grip/yaw when accelerating in corners as well as it will reduce yaw motion when in oversteered situations, such as the Sine with Dwell. No problems has been shown with the DSLD remaining locked in the a prefered direction. It has followed the quickest reactions of the driver and the fastest movements of the vehicle without any problems. The worst case simulation showed that even when the DSLD was forced to lock in the wrong direction, it wasn't any notable loss in cornering ability when unlocking it with a short brake activation. What needs to be developed further is the interactions and cooperation between the DSLD and the brake, chassis and powertrain/engine control and the other systems that already exists in a vehicle. By developing these interactions the maximum effect of the differential can be achieved and the risk that the systems will work against each other will be reduced. The main thing that is needed is a signal from the DSLD to the other systems with the information whether and how the differential is locked and then the other systems will have to take that into account

Cost-efficient light-weighting within the aviation sector

Rising fuel prices and growing concerns over the impacts of aviation on the greenhouse effect have increased the pressure on the commercial aviation sector to develop measures that improve fuel efficiency. Since commercial aircraft normally remain in service for more than 20 years, it is of interest for aircraft operators to consider fuel efficiency improvements that can be made on existing aircraft. This study develops a method to measure cost efficiency ofreplacing components with light-weight versions of the same component type, in order toreduce aircraft empty weight. Fuel cost reductions arising from weight reductions arediscounted and aggregated over the light-weight components lifetime to produce a net present value (NPV) of the intervention. In addition break-even values (NPV=0) of unit fuel costs,weight reductions, and net investment costs are also derived. Calculations for economy classpassenger seats and catering service trolleys, along with a range of generic intervention scenarios, are conducted. Results show that replacing catering service trolleys is beneficial even at relatively low unit fuel costs -break-even occurs at unit fuel costs between 2 and 24 US$/barrel - while the break-even unit fuel costs for economy class passenger seats ranges from 38 to 359 US$/barrel, depending on the circumstances. Results from generic scenario calculations reveals that - at unit fuel costs of 100 US$/barrel and a component lifetime of 10 years - any intervention with a net investment cost below 1,094 US$ per kg of weight reduction will be profitable

Фотодинамическая терапия экспериментального острого холецистита

фотохимиотерапияхолецистит /те

Insight into hydrothermal aging effect on Pd sites over Pd/LTA and Pd/SSZ-13 as PNA and CO oxidation monolith catalysts

In this study, Pd/LTA and Pd/SSZ-13 were prepared and then hydrothermally aged at the temperature of 750, 800, 850, and 900 \ub0C. Multiple Pd species, including isolated Pd ions (Pd2+ and [Pd(OH)]+) and 1∼2 nm PdOx nanoparticles, were presented in two fresh samples. The Pd/LTA sample showed remarkable hydrothermal stability, but the Pd/SSZ-13 sample experienced severe damage after aging at 900 \ub0C. The destruction of the aged Pd/SSZ-13 sample led to the migration and sintering of PdOx nanoparticles, which formed bulk PdOx particles on the surface of the zeolite crystallite. A large number of PdOx nanoparticles were retained after aging of the Pd/LTA sample. Pd/LTA contained a higher concentration of Pd2+ sites, while Pd/SSZ-13 had more [Pd(OH)]+ sites. It is found that the improvement of NO adsorption ability with CO addition onto Pd2+ was more significant than onto [Pd(OH)]+

To what extent does surrounding landscape explain stand-level occurrence of conservation-relevant species in fragmented boreal and hemi-boreal forest?-a systematic review protocol

Background: Silviculture and land-use change has reduced the amount of natural forest worldwide and left what remains confined to isolated fragments or stands. To understand processes governing species occurrence in such stands, much attention has been given to stand-level factors such as size, structure, and deadwood amount. However, the surrounding matrix will directly impact species dispersal and persistence, and the link between the surrounding landscape configuration, composition and history, and stand-level species occurrence has received insufficient attention. Thus, to facilitate optimisation of forest management and species conservation, we propose a review addressing 'To what extent does surrounding landscape explain stand-level occurrence of conservation-relevant species in fragmented boreal and hemi-boreal forest?'.Methods: The proposed systematic review will identify and synthesise relevant articles following the CEE guidelines for evidence synthesis and the ROSES standards. A search for peer-reviewed and grey literature will be conducted using four databases, two online search engines, and 36 specialist websites. Identified articles will be screened for eligibility in a two-step process; first on title and abstract, and second on the full text. Screening will be based on predefined eligibility criteria related to a PECO-model; population being boreal and hemi-boreal forest, exposure being fragmentation, comparator being landscapes with alternative composition, configuration, or history, and outcome being occurrence (i.e., presence and/or abundance) of conservation-relevant species. All articles that pass the full-text screening will go through study validity assessment and data extraction, and be part of a narrative review. If enough studies prove comparable, quantitative meta-analyses will also be performed. The objective of the narrative review and the meta-analyses will be to address the primary question as well as six secondary questions, and to identify important knowledge gaps