The Validity of Economic Value Added as a Metric for Determining Intrinsic Value

Economic Value Added has been discussed as a financial metric since its creation by Stern Stewart & Co. in the 1980s. Closely tied to value investing, which was pioneered by Benjamin Graham in the late 1920s and early 1930s, E.V.A. has been applied both as a tool for valuation by investors and as a tool for managers to measure the creation of value. While including and allowing for the cost of capital in its calculation, E.V.A. also integrates the present value of future cash flows. This paper discusses not only the origins and application of E.V.A. but also explores the stock prices over seven years of ten companies who had the greatest Market Value Added (the sum of the present value of expected future E.V.A.) and the ten companies who returned the lowest M.V.A. as described by James L. Grant in Foundations of Economic Value Added. In addition, two companies who use E.V.A. as a management tool will be explored to help to determine its validity both as a tool for investors and managers

The Roles of Inflammation, Oxidative Stress, and Neurotransmitters in an Animal Model of Post-Traumatic Stress Disorder

Post-traumatic stress disorder (PTSD), a trauma- and stressor-related disorder, is a condition that can develop in response to life-threatening situations. According to the Diagnostic and Statistical Manual of Mental Disorders 5 (DSM-5), a diagnosis of PTSD necessitates exposure to a life-threatening event, intrusive recollections, avoidance of associated stimuli, hyperarousal, and a significant social impairment. All of these symptoms must persist for at least 30 days and not be due to illness, medication, or substance abuse. To date, no definitive diagnostic biomarkers have been identified for PTSD. Recent research, however, points toward physiological abnormalities in the brain, hypothalamic-pituitary-adrenal (HPA) axis, and immune system that may be partially responsible. Many chronic conditions such as hypertension, heart failure, and metabolic syndrome perpetuate in a state of increased inflammation and oxidative stress, exacerbating their pathophysiology. In many psychiatric conditions such as depression and anxiety disorders, neurotransmitter modulation may play a critical role in their pathogenesis. Based upon the literature and work from our laboratory, we hypothesized that similar pathophysiological mechanisms may play a role in PTSD development. We tested our theory by creating a PTSD-like syndrome in rats with the use of a predator exposure/psychosocial stress animal model. We then conducted a series of in vivo and ex vivo experiments in an attempt to discover the roles of inflammation, oxidative stress, and neurotransmitter modulation in PTSD development. First, we evaluated inflammation and oxidative stress in the brain, adrenal glands, and blood in response to the predator exposure model. We then analyzed neurotransmitter modulation in the hippocampus and prefrontal cortex. Next, we investigated the anti-inflammatory and neuromodulating effects of the histone deacetylase inhibitor (HDACi) valproic acid (VA) on inflammation/oxidative stress and neurotransmitters. Finally, we employed the selective-serotonin reuptake inhibitor (SSRI) sertraline to ascertain why SSRIs have historically been ineffective in treating PTSD. Taken together, our findings indicate inflammation, oxidative stress, and aberrant neurotransmitter profiles may play a significant role in PTSD development and progression. In addition, VA may prove to be a legitimate pharmacologic alternative in PTSD treatment, as SSRIs may increase the noradrenergic response and actually exacerbate anxiety in a clinical setting

Revitalizing the Space Shuttle's Thermal Protection System with Reverse Engineering and 3D Vision Technology

The Space Shuttle is protected by a Thermal Protection System (TPS) made of tens of thousands of individually shaped heat protection tile. With every flight, tiles are damaged on take-off and return to earth. After each mission, the heat tiles must be fixed or replaced depending on the level of damage. As part of the return to flight mission, the TPS requirements are more stringent, leading to a significant increase in heat tile replacements. The replacement operation requires scanning tile cavities, and in some cases the actual tiles. The 3D scan data is used to reverse engineer each tile into a precise CAD model, which in turn, is exported to a CAM system for the manufacture of the heat protection tile. Scanning is performed while other activities are going on in the shuttle processing facility. Many technicians work simultaneously on the space shuttle structure, which results in structural movements and vibrations. This paper will cover a portable, ultra-fast data acquisition approach used to scan surfaces in this unstable environment

Surge pricing on a service platform under spatial spillovers: evidence from Uber

Ride-sharing platforms employ surge pricing to match anticipated capacity spillover with demand. We develop an optimization model to characterize the relationship between surge price and spillover. We test predicted relationships using a spatial panel model on a dataset from Ubers operation. Results reveal that Ubers pricing accounts for both capacity and price spillover. There is a debate in the management community on the ecacy of labor welfare mechanisms associated with shared capacity. We conduct counterfactual analysis to provide guidance in regards to the debate, for managing congestion, while accounting for consumer and labor welfare through this online platform.First author draf

Restricted-Use Pesticide Record Keeping for Private Applicators -- 1998

A section of the Food, Agriculture, Conservation, and Trade (FACT) Act of 1990, also known as the 1990 Farm Bill, requires private pesticide applicators to keep records of restricted-use pesticide (RUP) applications. These regulations originally went into effect in May 1993 and were revised in May 1995. The intent of these record-keeping requirements is to estimate the use of RUPs and to provide emergency medical information for the treatment of exposure to these pesticides. The program is administered by the Ag Marketing Service of USDA

Influencing culture related risks to improve project success

Advances in technologies have resulted in significant interest, projects and investment in associated infrastructure to transform how public and private organisations engage and interact with their stakeholders. However, the success of such projects is far from certain. Projects continue to fail in higher numbers than they succeed across multiple industries, no matter the type of project management methodology adopted. Project success is often focused on time, cost and quality. However, there is growing recognition that the dynamic interaction of multiple actors from diverse networks influences project success. Current project management methodologies may not sufficiently reflect the complex and dynamic nature of projects. This paper explores how actions to influence culture can contribute to project success. We explore this concept through the lens of actor-network theory (ANT) which was used to guide the collection of data and the data analysis

Extending Construal-Level Theory to Distributed Groups: Understanding the Effects of Virtuality

This Perspectives article seeks to redirect research on distributed (also referred to as virtual) groups, a well-established organizational phenomenon in which group members are separated by one or more forms of distance (e.g., geographic or temporal). Such distances directly affect individual behavior and shape other features of the context that alter group processes (e.g., by forcing groups to adopt new communication tools). Prior research has examined isolated effects of various dimensions of virtuality without considering how these effects on individual behavior and group dynamics might have conceptually related underpinnings. To address this gap, we propose an extension of construal-level theory as a way to link the effects of virtuality through a common mediating mechanism. According to construal-level theory, events or objects that are physically or temporally distant are also distant psychologically and thus are likely to be described in terms of their general characteristics. In contrast, views of more proximal events or objects will be more detailed and nuanced. We develop propositions that illustrate how objective dimensions of distance create psychological distance and how that in turn affects how individuals view and interact with their teammates. We also develop propositions that show. how the context of the distributed group (e.g., technology usage) affects this process over time. We compare and link this construal-based approach to alternatives based in theories of computer-mediated communication and social identity, and we thereby show that construal-level theory offers both parsimonious explanations and novel predictions about how and why distance alters perceptions of distributed group members (including oneself). Finally, we consider theoretical and practical implications of construal-level theory for future organization science research and the management of virtual teams

Impact of Biofilter Backwashing on the Biofiltration / Ultrafiltration Process

The use of ultrafiltration membrane technology for drinking water treatment has seen a marked increase in the past few decades, however, membrane fouling remains the top technological hurdle in the way of its widespread use. Multiple membrane pretreatment methods exist to alleviate this issue, however, they can be complicated and involve the addition of chemicals to the system. A novel method, known as biofiltration without pretreatment, is a green alternative to conventional membrane pretreatment, and has been shown effective at both the laboratory and bench scale in proof of concept studies. It is unknown if the conventional biofiltration operational experience, applies to biofiltration without pretreatment especially as it relates to filter backwashing. To this end, the goal of this study was to investigate the performance of biofiltration without pretreatment as a membrane pretreatment under varying water quality conditions, as well as to test the effect of various backwashing parameter settings on the system performance. To perform this study, a pilot plant was constructed at the Mannheim water treatment plant in Kitchener Ontario. This plant consisted of multiple identical biofilter columns running in parallel. For this study, dual identical biofilters run in parallel were used, with one being a control and run under constant backwashing conditions, while the other, an experimental filter, was run over a range of backwashing conditions according to a statistical experiment design. The dual media filters (anthracite over sand) used in this study were run with a 7 minute empty bed contact time. This study was divided into two parts. In the first part, focus was placed on the performance of the biofilters and in the second part the combined process, that is the use of biofilters without pretreatment as a membrane fouling reduction pretreatment, was investigated. In both cases, the effect of changing inlet water quality parameters, as well as the effect of backwashing parameters (collapse pulsing time, wash time, wash expansion and membrane run delay) was investigated. Performance of both sections of the plant was monitored through a combination of online and laboratory measured parameters. Biofilter turbidity, temperature, headloss, as well as membrane temperature and transmembrane pressure were monitored online. In the laboratory, liquid chromatography with organic carbon detection was used to measure the concentrations of various water constituents. Fluorescence emission and excitation matrices were also used for this purpose. In addition, dissolved organic carbon, and ultraviolet light absorption were also measured. The consumption of dissolved oxygen by biofilms attached to biofilter media was quantified as a means to determine biological activity within the biofilter. In terms of biofilter performance, the backwashing factors studied were found to have no effect on the biological activity, either through the removal of nutrients, or by the amount of biomass on the biofilter media. However, these factors were found to influence turbidity removal and headloss accumulation by the biofilters as well as the removal of suspected membrane foulants, namely biopolymers and protein-like material In terms of membrane performance, the irreversible fouling rate was found to be correlated to the amount of biopolymers applied to the membranes and reversible fouling was found to not be correlated to any of the parameters studied. The amount of turbidity applied to the membranes was shown to a play a complex, role in this fouling as well. Backwashing was also shown to have an effect on irreversible fouling, suggesting that the backwashing regime may be optimized for the reduction of irreversible fouling. Although the backwashing procedure was found to have an effect on both the reduction of irreversible membrane fouling and the headloss buildup (hence biofilter run time), these two parameters were found to be affected in opposite , meaning that one may be optimized at the expense of the other. Therefore process optimization must be undertaken with specific goals in mind. It was found however, that the filter run time of the biofilters may be extended by optimizing the biofilter backwashing procedure. The results of this study provide a frame work for which to further study the influence of backwashing on biofiltration without pretreatment used as a membrane pretreatment by pointing to the backwashing parameters which have the greatest effect on performance. Moreover, the results of this study may be used as a starting point for more in depth optimization exercises

Junior Recital: Josh Hayward, saxophone

This recital is presented in partial fulfillment of requirements for the degree Bachelor of Music in Performance. Mr. Hayward studies saxophone with Sam Skelton.https://digitalcommons.kennesaw.edu/musicprograms/2155/thumbnail.jp

Extending the notion of customer value to surfing camps

Wilson, B., Rita, P., Barrios, A., & Popp, B. (2021). Extending the notion of customer value to surfing camps. Heliyon, 7(8), 1-10. [e07876]. https://doi.org/10.1016/j.heliyon.2021.e07876This study applies the germane principles of service-dominant logic by investigating how different dimensions of service value impact customers’ satisfaction and related behavioral intentions in the surf camps context. An empirical model was developed and tested via survey responses from 300 Portuguese surf camps tourists who profiled their experience. Data were analyzed using Structural Equation Modeling, specifically Partial Least Squares (PLS-PM). Results highlight the respective impact the numerous value dimensions (functional, emotional, social, epistemic, experiential, and contextual) have on the overall level of perceived value as well as its resultant impact on satisfaction and repurchase intentions.publishersversionpublishe