The effect of environmental, social, governance (ESG) on cost of equity capital (COEC):evidence from Finnish listed companies

Abstract. The importance of corporate social responsibility (CSR) and non-financial disclosures to investors and other stakeholders has grown in recent years. Companies acknowledge that ESG (environmental, social, and governance) disclosure has a substantial impact on brand recognition, investment choices, the company’s public image, and stakeholders’ understanding of environmental, social, and governance concerns. By offering ESG ratings and sharing pertinent information, businesses may show their commitment to responsible business practices and increase their openness. This improved openness not only encourages investor and stakeholder confidence, but also reduces organizations’ exposure to risk. Investors and stakeholders increasingly see ESG performance as a crucial determinant of a company’s long-term resilience and sustainability. Understanding the link between ESG disclosure, transparency, and risk is essential for businesses looking to develop trust, attract investments, and navigate the rapidly changing environment of sustainable business practices. This study examines the association between ESG as a type of non-financial company information and COEC for listed Finnish firms from 2003 to 2022. In addition, we attempt to determine whether the relationship between ESG and COEC differs between industrial and non-industrial units. Furthermore, we seek an answer to the question, "Is this relationship growing stronger over time?" This thesis sample consists of 405 observations of Finnish listed firms collected from the Refinitive database. These listed companies were gathered from the Helsinki Stock Exchange. The ESG score is the independent variable, whereas the COEC is the dependent variable (cost of equity capital). In addition, control variables such as firm size, represented by the natural logarithm of total assets (LN TA), leverage, and market-to-book ratio (MTBR), as well as dummy variables including industry and annual dummy variables for every three years, were added to the original models. The regression results indicate that there is a negative association between ESG and COEC, however this relationship is not significantly stronger among industrial enterprises. Although the results for our last hypothesis were not statistically significant, we can observe that the influence of ESG on the cost of equity capital (COEC) grew larger before 2018 and then reversed. The first result is consistent with existing studies; however, there is no comparable research for our second and third results. To be able to draw broad conclusions about ESG and the standardization of ESG measurement and impact among non-listed or small- and medium-sized businesses, additional research is required. In addition, it is possible that future research will investigate the ways in which companies that have high ESG ratings are affected by stock market shocks like the one that was brought on by the epidemic

Effect of anode angle on photon beam spectra and depth dose characteristics for X-RAD320 orthovoltage unit

AbstractBackgroundIn radiation therapy with orthovoltage units, the tube design has a crucial effect on its dosimetric features.AimIn this study, the effect of anode angle on photon beam spectra, depth dose and photon fluence per initial electron was studied for a commercial orthovoltage unit of X-RAD320 biological irradiator.Materials and methodsThe MCNPX MC code was used for modeling in the current study. We used the Monte Carlo method to model the X-RAD320 X-ray unit based on the manufacturer provided information. The MC model was validated by comparing the MC calculated photon beam spectra with the results of SpekCalc software. The photon beam spectra were calculated for anode angles from 15 to 35 degrees. We also calculated the percentage depth doses for some angles to verify the impact of anode angle on depth dose. Additionally, the heel effect and its relation with anode angle were studied for X-RAD320 irradiator.ResultsOur results showed that the photon beam spectra and their mean energy are changed significantly with anode angle and the optimum anode angle of 30 degrees was selected based on less heel effect and appropriate depth dose and photon fluence per initial electron.ConclusionIt can be concluded that the anode angle of 30 degrees for X-RAD320 unit used by manufacturer has been selected properly considering the heel effect and dosimetric properties

Paediatric food allergy and the role of vitamin D

Vitamin D plays a significant role in multiple physiological functions in humans. The prevalence of paediatric food allergy (FA) has been tentatively linked to vitamin D insufficiency. In Victoria, Australia, the frequency of both vitamin D insufficiency and paediatric FA is high.Vitamin D conventionally is measured in serum / plasma and the interpretation cut-offs for adults are well-defined. However, the interest in the use of dried blood spots (DBS) as an alternative matrix for vitamin D assessment has increased or large-scale population studies. we aimed to develop a sensitive and robust local DBS vitamin D method, to to provide a description of vitamin D levels at birth in the Melbournian infant population and investigate the association between vitamin D status and prevalence of paediatric FA and eczema in early childhood. We developed a sensitive liquid chromatography tandem mass spectrometery method and measured vitamin D from 2700 newborns' DBS samples. Our research demonstrated that, vitamin D levels in newborn babies is influenced by season of birth and maternal vitamin D supplementation. Lower vitamin D levels do not influence the risk of challenge-proven FA or eczema in infancy. Further studies are required to define age appropriate decision limits for vitamin D

Relationship between Social Support and Mental Health of Novice Nurses during Coronavirus Epidemic

Abstract Background: Coronavirus has created a confusing and stressful situation around the world. In these circumstances, health care workers are most prone to vulnerability. The goal of this study was to investigate the relationship between social support and mental health of novice nurses during the outbreak of COVID-19 to provide basic information for intervention measures. Study design: cross-sectional study Methods: This study was performed in spring of 2020 in hospital affiliated with Ilam University of Medical Sciences. Data were collected using general information questionnaire, General Health Questionnaire (GHQ) and Phillip’s Social Support Questionnaire and analyzed by SPSS software, as well as descriptive and inferential statistics. Results: The total score of GHQ and social support was 24.58±12.063 and 70.77±9.761, respectively. There was a statistically significant inverse relationship between social support and mental health of participants. Among the demographic variables, there was a significant correlation between work experience, hospital, direct contact with COVID-19 patients and the number of working days in coronavirus ward with mental health and social support. Conclusion: The findings of the present study add to our knowledge obtained from previous studies by discovering the impact of social support on mental health of health care providers with special attention to novice nurses at the forefront. Ongoing monitoring of psychological consequences associated with COVID-19 outbreak and social support of them require further attention

The Petrology of Ziyran Volcanic Belt (ZVB) Eocene Volcanic Rocks

The Ziyaran Volcanic Belt (ZVB) is located in the southern part of central Alborz and in the Ziyaran area. The geology of this layer includes various kinds of stone units. In the north, they are the reminder of Cenozoic, quaternary deposits, and in the western part, the exposure stone units are mostly Precambrian and Paleozoic deposits and in the south-eastern part of the studied area, the stones belong to the Mesozoic era and specifically, the sediments belong to the Jurassic era are exposed. Also, the basic volcanic rocks that belong to the Eocene period are located in the Ziyaran area, in the western part of Taleqan County and in the Alborz state. This study aimed to evaluate the petrology of Ziyaran Volcanic Belt (ZVB) Eocene volcanic rocks. For this purpose, which is mostly focused on the study of Cretaceous stones in the central Alborz zone, sampling of the stones in the intended area was performed with the survey and field methods and for 120 samples. After the preparation of the thin layer from the well and without alteration samples, they were examined with petrography and petrology tests. The results of the petrology studies of the volcanic rocks of the Ziyaran area expressed that the basic volcanic rocks in the intermediate area with the intermediate- upper chemical composition of Eocene Alkaline Phosphatase (ALP) located in the central zone of Alborz heights, with lithology composition of Alkali olivine basalts and Andesite

MINERAL CHEMISTRY AND GEOCHEMISTRY OF GRANITOID ROCKS IN NORTHERN OF SARDUIEH (DASHT SHAGHIN AND SARTASHTAK), IRAN

Dehaj-Sarduieh volcano-plutonic belt in Kerman province of Iran represents a part of Urumieh-Dokhtar Magmatic assemblage which is mainly composed of granodiorite, quartz diorite, tonalite granite and granophyre. These rocks emplaced in Eocene volcanic and pyroclastic deposits rocks and are considered to be Oligo-Miocene in age. Geochemical studies showed that the amphibole minerals in diorite and granodiorites are calcic in composition and range from actinolite to magnesio-hornblende. Geochemical and mineralogical results revealed that these bodies have been generated in the lower part of the lower crust at a temperature of 700 to 750 °C, with an oxygen fugacity of -13.57 to -15.76 and a low pressure of 1 to 3 kb through mixing of mantle-derived mafic magma with crustal-derived felsic melts. These amphiboles are subduction-related and in accordance with the tectono-magmatic features suggested for these massifs, they show the characteristics of subduction and active continental margin environments. Field observations and mineralogical-geochemical evidence revealed that the original magma has been calc-alkaline in composition and metaluminous I-type. It is also showed that the process of fractional crystallization has significantly contributed in the formation of these rocks. Sarduieh igneous rocks displayed an enrichment in the large-ion lithophile elements (LILE, e.g. Ce, Th, Ba, Zr, Sr) and a depletion of the high field strength elements (HFSE, e.g. Nb, P, and Ti) and Chondrite normalized REE patterns are characterized by LREE enrichment and Show slight negative Eu anomalies which reflect the influence of subductions zone and active continental margin environments. The tectonic setting of these rocks is inferred to be continental arc or active continental margin and they were deduced to be generated by the subduction of the Neotethys oceanic crust beneath the Central Iranian continental plate.O cinturão vulcânico-plutônico de Dehaj-Sarduieh, na província de Kerman, no Irã, representa uma parte do conjunto Urumieh-Dokhtar Magmatic, composto principalmente de granodiorito, diorito de quartzo, granito e granito. Essas rochas localizadas em depósitos vulcânicos e piroclásticos do Eoceno e são consideradas como idade do Oligo-Mioceno. Estudos geoquímicos mostraram que os minerais anfibólio nos dioritos e granodioritos são de composição cálica e variam de actinolita a magnésio-hornblenda.Resultados geoquímicos e mineralógicos revelaram que esses corpos foram gerados na parte inferior da crosta inferior a uma temperatura de 700 a 750 ° C, com uma fugacidade de oxigênio de -13,57 a -15,76 e baixa pressão de 1 a 3 kb através da mistura de magma máfico derivado do manto com derretidos félsicos derivados da crosta. Esses anfibólios estão relacionados à subducção e, de acordo com as características tectono-magmáticas sugeridas para esses maciços, mostram as características dos ambientes de subducção e margem continental ativa. As observações de campo e as evidências mineralógico-geoquímicas revelaram que o magma original tem composição alcalino-calcária e tipo I metaluminoso. Também é mostrado que o processo de cristalização fracionada contribuiu significativamente na formação dessas rochas. As rochas ígneas de Sarduieh exibiram um enriquecimento nos elementos litófilos de íons grandes (LILE, por exemplo, Ce, Th, Ba, Zr, Sr) e um esgotamento dos elementos de alta força de campo (HFSE, por exemplo, Nb, P e Ti) e Condrita normalizados Os padrões REE são caracterizados pelo enriquecimento LREE e Mostrar pequenas anomalias negativas da Eu que refletem a influência da zona de subducção e ambientes ativos de margens continentais. O cenário tectônico dessas rochas é inferido como arco continental ou margem continental ativa e elas foram deduzidas para serem geradas pela subducção da crosta oceânica de Neotethys sob a placa continental iraniana central

Geoquímica del rango volcánico alcalino del eoceno medio-superior, parte sur de las montañas centrales de Alborz, norte de Irán

The Ziaran volcanic Belt (ZVB), North of Iran contains a number of intra-continental alkaline volcanic range situated on South part of central Alborz Mountains, formed along the localized extensional basins developed in relation with the compressional regime of Eocene. The mid-upper Eocene volcanic suite comprises the extracted melt products of adiabatic decompression melting of the mantle that are represented by small volume intra-continental plate volcanic rocks of alkaline volcanism and their evaluated Rocks with compositions representative of mantle-derived, primary (or near-primary) melts. Trace element patterns with significant enrichment in LILE, HFSE and REEs, relative to Primitive Mantle. Chondrite-normalized of rare earth elements and enrichment in incompatible elements and their element ratios (e. g. LREE/HREE, MREE/HREE, LREE/MREE) shown these element modelling indicates that the magmas were generated by comparably variable degrees of partial melting of garnet lherzolite and a heterogeneous asthenospheric, OIB mantle sources.El cinturón volcánico de Ziaran (ZVB), al norte de Irán, contiene una serie de cordilleras volcánicas alcalinas intracontinentales situadas en la parte sur de las montañas centrales de Alborz, formadas a lo largo de las cuencas extensionales localizadas desarrolladas en relación con el régimen de compresión del Eoceno. La suite volcánica del Eoceno medio superior comprende los productos de fusión extraídos de la fusión por descompresión adiabática del manto que están representados por rocas volcánicas de placa intracontinental de pequeño volumen de vulcanismo alcalino y sus rocas evaluadas con composiciones representativas de las rocas derivadas del manto, primarias (o cercanas). -primaria) se derrite. Patrones de oligoelementos con enriquecimiento significativo en LILE, HFSE y REE, en relación con Primitive Mantle. Condrita normalizada de elementos de tierras raras y enriquecimiento en elementos incompatibles y sus proporciones de elementos (por ejemplo, LREE / HREE, MREE / HREE, LREE / MREE) que muestra el modelado de estos elementos indica que los magmas se generaron por grados comparativamente variables de fusión parcial de granate lherzolita y fuentes de manto OIB astenosféricas heterogéneas

Geoquímica del rango volcánico alcalino del eoceno medio-superior, parte sur de las montañas centrales de Alborz, norte de Irán

The Ziaran volcanic Belt (ZVB), North of Iran contains a number of intra-continental alkaline volcanic range situated on South part of central Alborz Mountains, formed along the localized extensional basins developed in relation with the compressional regime of Eocene. The mid-upper Eocene volcanic suite comprises the extracted melt products of adiabatic decompression melting of the mantle that are represented by small volume intra-continental plate volcanic rocks of alkaline volcanism and their evaluated Rocks with compositions representative of mantle-derived, primary (or near-primary) melts. Trace element patterns with significant enrichment in LILE, HFSE and REEs, relative to Primitive Mantle. Chondrite-normalized of rare earth elements and enrichment in incompatible elements and their element ratios (e. g. LREE/HREE, MREE/HREE, LREE/MREE) shown these element modelling indicates that the magmas were generated by comparably variable degrees of partial melting of garnet lherzolite and a heterogeneous asthenospheric, OIB mantle sources.El cinturón volcánico de Ziaran (ZVB), al norte de Irán, contiene una serie de cordilleras volcánicas alcalinas intracontinentales situadas en la parte sur de las montañas centrales de Alborz, formadas a lo largo de las cuencas extensionales localizadas desarrolladas en relación con el régimen de compresión del Eoceno. La suite volcánica del Eoceno medio superior comprende los productos de fusión extraídos de la fusión por descompresión adiabática del manto que están representados por rocas volcánicas de placa intracontinental de pequeño volumen de vulcanismo alcalino y sus rocas evaluadas con composiciones representativas de las rocas derivadas del manto, primarias (o cercanas). -primaria) se derrite. Patrones de oligoelementos con enriquecimiento significativo en LILE, HFSE y REE, en relación con Primitive Mantle. Condrita normalizada de elementos de tierras raras y enriquecimiento en elementos incompatibles y sus proporciones de elementos (por ejemplo, LREE / HREE, MREE / HREE, LREE / MREE) que muestra el modelado de estos elementos indica que los magmas se generaron por grados comparativamente variables de fusión parcial de granate lherzolita y fuentes de manto OIB astenosféricas heterogéneas

The Petrology of Ziyran Volcanic Belt (ZVB) Eocene Volcanic Rocks

The Ziyaran Volcanic Belt (ZVB) is located in the southern part of central Alborz and in the Ziyaran area. The geology of this layer includes various kinds of stone units. In the north, they are the reminder of Cenozoic, quaternary deposits, and in the western part, the exposure stone units are mostly Precambrian and Paleozoic deposits and in the south-eastern part of the studied area, the stones belong to the Mesozoic era and specifically, the sediments belong to the Jurassic era are exposed. Also, the basic volcanic rocks that belong to the Eocene period are located in the Ziyaran area, in the western part of Taleqan County and in the Alborz state. This study aimed to evaluate the petrology of Ziyaran Volcanic Belt (ZVB) Eocene volcanic rocks. For this purpose, which is mostly focused on the study of Cretaceous stones in the central Alborz zone, sampling of the stones in the intended area was performed with the survey and field methods and for 120 samples. After the preparation of the thin layer from the well and without alteration samples, they were examined with petrography and petrology tests. The results of the petrology studies of the volcanic rocks of the Ziyaran area expressed that the basic volcanic rocks in the intermediate area with the intermediate- upper chemical composition of Eocene Alkaline Phosphatase (ALP) located in the central zone of Alborz heights, with lithology composition of Alkali olivine basalts and Andesite