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To evaluate return to play (RTP), clinical outcomes, and recurrence rates in collision athletes 20 years of age and younger who underwent open Latarjet for anterior shoulder instability. A retrospective review of collision athletes 20 years of age and younger, who underwent an open Latarjet procedure by a single surgeon between the years of 2010-2020 was carried out. Inclusion criteria were 1) collision athlete, 2) underwent open Latarjet procedure, 3) 16-20 years old, and 4) minimum 24-month follow-up. Exclusion criteria were 1) other pathology of the ipsilateral shoulder and 2) noncollision athlete. Rate of RTP, time to RTP, rate of return to preinjury level, the Shoulder Instability Return to Sport after Injury score (SIRSI) score, Subjective Shoulder Value (SSV), visual analogue scale (VAS) scores, and recurrence events were recorded. Quantitative statistical analysis was carried out. The study included 105 male collision athletes with a mean age of 18.6 ± 1.0 years (range: 17-20). The mean follow-up for patients was 36 ± 26.2 months. A total of 93 (88.6%) RTP at a mean time of 6.3 ± 2.2 months, with 73 (69.5%) returning to their preinjury level of participation. The mean SIRSI score was 69.2 ± 21.8, the mean VAS score was 2.3 ± 2.1, and the mean SSV score was 84.1 ± 16.8. Five patients (4.8%) redislocated their shoulder, with 4 of these requiring a further surgery (3.8%). Two patients (1.9%) reported incidents of subluxation. The open Latarjet procedure in young collision athletes results in high rates of RTP, excellent functional outcomes and low recurrence rates at mid-term follow-up. Additionally, complication rates are low in this cohort. Level IV, case series [ABSTRACT FROM AUTHOR]

To evaluate the functional and athletic outcomes after primary subpectoral biceps tenodesis for type II SLAP tear in overhead athletes. All competitive elite athletes with type II SLAP tears undergoing biceps tenodesis by a single surgeon were isolated between 2007 and 2015. Exclusion criteria were applied to individuals not involved in overhead athletics, clinical follow-up <24 months, adjacent rotator cuff or labral repair, concomitant SLAP repair, and/or previous arthroscopic shoulder surgery. Patient-reported outcome measures included visual analog scale (VAS), Kerlan Jobe Orthopaedic Clinic shoulder score, and Single Assessment Numerical Assessment. Clinical and sporting outcomes were recorded using a sports-specific questionnaire. Of 22 identified patients, 16 competitive overhead athletes (72.7%; 11 men, 5 women) with a mean age of 21.0 years were available at mean 4.5-year follow-up. Baseball or softball comprised the majority of patients (n = 9; 56.3%), followed by gymnastics (n = 2), swimming (n = 2), and other sports (n = 3). At mean 4.1 months postoperatively, 13 patients (81.3%) returned to previous level of athletic activity, whereas 2 patients (12.5%) failed to return to sporting activity and 1 (6.3%) returned at a lower level of competition. VAS pain significantly decreased from an average of 4.4 preoperatively to 1.7 postoperatively (P =.002), and mean Single Assessment Numerical Assessment scores also demonstrated significant improvement (55.4-76.7; P =.008). Final mean Kerlan Jobe Orthopaedic Clinic score was 74.0 (standard deviation 25.9), including 2 patients with suboptimal outcomes due to persistent pain. There were no significant differences in mean forward flexion or rotation in either the adducted or throwing position (P >.05), although small, significant decreases in postoperative active abduction were noted (165° vs 155°; P =.003). In the current series of competitive overhead athletes, 81% of patients returned to previous level of play at an average of 4.1 months postoperatively after subpectoral biceps tenodesis for symptomatic SLAP tear. Athletes reliably experienced significant decreased activity-related pain with athletic function. IV, case series. [ABSTRACT FROM AUTHOR]

Bioregenerative Life Support Systems (BLSS) are a key facet of plans for long term habitats on other celestial bodies. With the Artemis program headed to the moon and SpaceX pushing towards Mars the roadmap is about 10–20 years. Therefore it is vital to consider how BLSS will work with the traditional physicochemical Environmental Control and Life Support Systems (ECLSS). Biological systems are complicated. Their inputs and outputs cannot be turned on and off the way physicochemical systems can. Therefore the accurate monitoring and prediction of these systems is fundamental to integrating the BLSS into the life support system as a whole. This paper will summarize the history of BLSS research, the system requirements for integrating a BLSS into the ECLSS, and the research needed to meet these requirements. As the world looks towards the future of humans living on other celestial bodies, there is a lot of work to do to support keeping them safe and healthy. Bioregenerative Life Support Systems have potential to provide massive support, if they are effectively integrated with the physicochemical systems. • Explores the systems requirements of physicochemical and bioregenerative systems. • Provides updated equivalent system mass estimates using LED lighting technologies. • Calculates return on investment time for bioregenerative food production. • Suggests future research directions for bioregenerative life support systems (BLSS). [ABSTRACT FROM AUTHOR]

The purpose of this study was to report return to sport, patient-reported outcomes (PROs), subjective outcomes, and complications or failures in patients who underwent open Latarjet surgery. Patients who underwent open Latarjet surgery performed by 2 fellowship-trained surgeons between August 2006 and November 2018 were included. Prospectively collected data were reviewed. Recurrent instability and revision surgical procedures were recorded. Subjective outcomes included return to sport and fear of reinjury or activity modification as a result of patients' instability history. PROs included the American Shoulder and Elbow Surgeons (ASES) score, Short Form 12 Physical Component Summary score, Single Assessment Numeric Evaluation score, Quick Disabilities of the Arm, Shoulder and Hand score, and satisfaction. Age, sex, sports participation, pain, primary vs. revision surgery (prior failed arthroscopic or open Bankart repair), dislocation number, glenoid bone loss, glenoid track concept, and projected glenoid track were evaluated. Failure was defined as an ASES score <70, recurrent dislocation, or revision instability surgery. A total of 126 shoulders (125 patients) met the inclusion criteria, with a mean age of 28.1 years (range, 15-57 years). Of 126 shoulders, 7 (5.5%) underwent additional procedures prior to final follow-up and were excluded from outcome analyses; failure occurred in 6 of these shoulders. Mean follow-up data at 3.7 years (range, 2-9.3 years) were attained in 86.6% of patients (103 of 119). All PROs significantly improved from preoperative baseline (ASES score, from 69.7 to 90.2; Single Assessment Numeric Evaluation score, from 55.8 to 85.9; and Quick Disabilities of the Arm, Shoulder and Hand score, from 28.4 to 10.5). PROs did not differ based on sex, sports participation type, dislocation with or without sports, primary vs. revision procedure, and preoperative dislocation number. No correlations existed between PROs and age, glenoid bone loss, or number of previous surgical procedures. On-track lesions (50 of 105, 47.6%) and projected on-track lesions (90 of 105, 85.7%) correlated with better patient satisfaction but not PROs. Despite not having recurrences, 63 of 99 patients (63.6%) reported activity modifications and 44 of 99 patients (44.4%) feared reinjury. These groups had statistically worse PROs, although the minimal clinically important difference was not met. Return to sport was reported by 97% of patients (86 of 89), with 74% (66 of 89) returning at the same level or slightly below the preinjury level. Revision stabilization surgery was required 6 of 126 cases (4.8%), and 6 of 103 shoulders (5.8%) had ASES scores <70. The open Latarjet procedure led to significant improvements in all PROs, and overall, 97% of patients returned to sport. Fear of reinjury and activity modifications were common after open Latarjet procedures but did not appear to affect clinical outcomes. On-track and projected on-track measurements correlated with better patient satisfaction but not improved PROs. [ABSTRACT FROM AUTHOR]

The purpose of this study was to evaluate return to sport (RTS) outcomes in tennis athletes following hip arthroscopy for femoroacetabular impingement syndrome (FAIS). It was hypothesized that there would be a high rate of return to tennis after hip arthroscopy. Level IV, Retrospective Analysis. Outpatient sports medicine clinic at a single institution. A total of 28 patients (60.8% female; mean age, 36.2 ± 9.2 years; mean BMI, 22.8 ± 2.1 kg/m2) with self reported tennis activity prior to hip arthroscopy. A postoperative return to sport and minimum two-year patient reported outcomes. There was a high rate of return to tennis, with 78% of patients eventually returning to tennis. An additional 9% of patients had the necessary hip function to return, but did not return due to lack of interest or resources. The patients returned to tennis at an average of 8.0 ± 3.3 months after surgery. The majority of athletes (66.7%) were able to continue competing at the same or higher levels following surgery. Patients return to tennis 78% of the time at a mean of 8.0 ± 3.3 months following hip arthroscopy for FAIS. • Tennis players return to sport 87% of the time following hip arthroscopy. •The patients returned to sport at an average of 8 ± 3.3 months after surgery. •66.7% of tennis players compete at the same or higher level following surgery. [ABSTRACT FROM AUTHOR]

This paper discusses the technical and economic feasibility of a renewable energy-based system, aimed to replace the traditional diesel engines implemented on a pushed and pusher bulk carrier barge. This barge has a challenging navigational route in the Nile River from Alexandria to Aswan and vice versa. It is scheduled to complete 30 trips annually while carrying 850 tons/trip. The system is based on photovoltaic panels, and was selected with its excess energy to be stored primarily in the form of H 2 gas through electrolysis, and batteries (i.e. Power to Gas technology) to be later converted back to electrical energy through fuel cells. Hence, an operation algorithm was formulated to optimize the performance of the system by defining operating modes that use solar energy, hydrogen energy, batteries, or hybrid energy coming from multiple sources that result in an internal rate of return (IRR) of 15.1% and overall efficiency of 57.9%. This high efficiency is due to the nature of water current that flows from south to north of Egypt, therefore, causing a significant reduction in power demand in the trip from Aswan to Alexandria that requires 11,980 kW h, compared to the trip from Alexandria to Aswan that requires 21,064 kW h. • Zero emission solution combining solar energy, hydrogen generation and fuel cell propulsion for a barge in Nile River. • Preparation to achieve the 7th goal of sustainable development ensuring green propulsion in Nile River cargo transport. • Efficient use of natural resources, solar energy and water current from south to north of Egypt. • Integrating electrolizer, fuel cell, solar energy pv, batteries, and hydrogen storage to form an autonomous barge. [ABSTRACT FROM AUTHOR]

Offshore wind power integration is a grand challenge due to the volatility, randomness and intermittency This work presents a wind-thermal-electrolysis-battery (WTEB) hybrid energy system designed to integrate large-scale offshore wind energy and reduce curtailment. The system composes of offshore wind farms (OWF), thermal power plants (TPP), electrolysis station, battery bank. The Qingzhou (geographic name) I-VII offshore wind farms (5000 MW) and the Yangxi (geographic name) coal-fired power plant units #5, #6 (2 × 1240 MW) are taken as a case study. The OWF is the indispensable generator and the renewable fraction increases with integration level. The TPP adjusts the load ratio to meet the changing net load. The electrolysis station consumes the excess electricity and the battery bank time-shifts the electricity to reduce the electrolyzer downtime. The recommended wind-thermal (W-T) capacity ratio is 1.452:1 in the studied case, namely 3600 MW OWF. The WTEB system breaks the trade-off relationship between renewable fraction (50.11%) and curtailment rate (1.48%) compared to traditional wind-thermal (WT) bundled system. The WPEB system improves the electricity shortage rate (4.74%), transmission line capacity factor (61.79%), load following precision (91.79%). The internal rate of return (IRR), levelized cost of electricity (LCOE), levelized cost of hydrogen (LCOH) of WTEB-W3600 are 34.70%, 0.5172 ¥/kWh, 29.76 ¥/kg. The WTEB hybrid energy system for a large-scale offshore wind power integration is first proposed and the techno-economic feasibility analysis proves the feasibility and forward-looking of the system. Collaborative capacity optimization of OWF, TPP, electrolysis station, battery can improve the system performance and economy. The wind-photovoltaic-thermal-electrolysis-battery (WPTEB) system co-locating the OWF and floating photovoltaic (PV) is an important development direction. Figure. Schematic of the wind-thermal-electrolysis-battery (WTEB) hybrid energy system in Yangjiang, China. [Display omitted] • WTEB enables a large-scale offshore wind power integration and curtailment reduction. • WTEB improves load following precision, electricity shortage and curtailment rate. • The wind-thermal (W-T) capacity ratio of the WTEB system is 1.452:1. • The electrolyzers and battery bank operate on the curtailed electricity. • The NPV, LCOE, IRR of WTEB-W3600 are 3.13 billion¥, 0.5172 ¥/kWh, 4.70%. [ABSTRACT FROM AUTHOR]

In this paper, we study whether a firm's carbon risk exposure plays a role in the relationship between dividend announcements and stock returns. Our results show that when investors hold disproportionately high carbon emitters with associated increased carbon risk, a positive relationship exists between a firm's carbon emissions and the association between the stock returns and dividend payment. If investors hold disproportionately high carbon emitters with the associated increased carbon risk stocks, the stock market reacts less positively (more negatively) to dividend increase (decrease) announcements. At the same time, if firms under-price their carbon risk, the stock market reacts less positively (more negatively) to dividend increase (decrease) announcements. [ABSTRACT FROM AUTHOR]

IRR , a widely used profitability measure, is the Discount Rate that yields Net Present Value ( NPV ) = 0 for a stream of positive and negative cash flows, at least one of each sign and with no explicit financing payments. A big disadvantage is lack of parameters, such as a project finance rate or the enterprise rate ( ER ), i.e., Return on Investment of the overarching investment group to serve as a measure of opportunity cost. The coupled metrics proposed earlier by the author— NPV project and NPV % –do not suffer these disadvantages, so IRR is analyzed in terms of NPV % . Useful information can be obtained from a projection of IRR values onto the NPV % , ER plane revealing the sensitivity of IRR to risk under meaningful operating conditions. [ABSTRACT FROM AUTHOR]

Floating photovoltaics is a solution that is getting significant attention worldwide. It consists of installing photovoltaic modules on water basins. This contributes to alleviating the land occupancy issue associated with the growing deployment of photovoltaics. However, because of the early stage of deployment, the costs of floating systems are still higher than traditional land-based photovoltaics. Nonetheless, in some cases, the installation of floating photovoltaics might occur independently of the cost competition with the in-land technology. In this light, the current work presents an analysis of the profitability and cost competitiveness of floating photovoltaics in Europe. The Levelized Cost of Electricity of floating photovoltaics is found to be generally higher than onshore wind and land-based photovoltaics, but lower than fossil gas. Furthermore, floating photovoltaics is found to be a profitable investment in countries with low capital costs, high energy yields and/or high market price of electricity. In these countries, the internal rate of return is typically higher than the weighted average cost of capital, confirming the profitability of the investigated solution. Last, the economic parameters are found to influence the economic viability of FPV more than the energy related factors such as the tilt angle or the heat transfer. [Display omitted] • Profitability and cost competitiveness of floating photovoltaics (FPV) are analyzed. • FPV has higher LCOE than land-based photovoltaics (LPV) but lower than fossil gas. • In Italy, Spain, and Switzerland, the LCOE is lower than 5 € cents /kWh. • Positive NPVs are found in Turkey, Italy, Spain, Romania, Bulgaria, and Greece. • FPV viability is more affected by the economic conditions than by the energy yield. [ABSTRACT FROM AUTHOR]

The return to R&D investment and activities has been the object of a vast literature, both from a theoretical and empirical perspective. The aim of this overview is to present a selection of contributions to underscore the main shared findings and highlight open issues, while also providing a preliminary analysis of the returns to R&D investment in large research infrastructures (RIs) in Europe. First, a common methodological framework is distilled from the macro-literature, examining the return to R&D in aggregate terms. Then, the evaluation in the context of specific projects, mainly in large RIs, is examined, followed by the explicit consideration of externalities and spillover effects of research activities. A novel empirical analysis of European RIs is also presented, based on a novel data set, to highlight trends and suggest new avenues for the evaluation of the rate of return to investments in research infrastructures, using both a cost effectiveness ratio and a bibliometric citation count as metrics to evaluate the return to R&D investment in these facilities. Directions for future research are sketched in the concluding section. [ABSTRACT FROM AUTHOR]

· Satellite launches distract investors from the stock market. · Investors focus more on market-level rather than firm-specific shocks on launch days. · This drives stock returns to comove more with market returns on launch days. · Worldwide competition in space exploration and information content of launches matter. · Trading strategy exploiting potential satellite-induced mispricing yields abnormal returns. Fierce aerospace competition among global superpowers has resulted in strong public attention on satellite launch events in the U.S. Given limited attentional resources, U.S. investors pay more attention to market-level shocks than to firm-specific shocks, making stock returns comove more with the market on satellite launch days than on other days. We find that the effect is significantly stronger for military-related satellite launches, launches before the dissolution of the former Soviet Union, and international satellite launches by other competitors, highlighting a greater concern for national security. A trading strategy that exploits the potential satellite-induced mispricing yields an annualized abnormal risk-adjusted return of up to 17% within the three-day window around launch date. Our results are robust to a battery of robustness analyses that consider the different characteristics of satellite launches, the exclusion of aerospace firms, and stock return comovement with industries. [ABSTRACT FROM AUTHOR]

A conceptual biorefinery process has been designed for the integration of the protein extraction and the ethanol production from brewers' spent grain (BSG) and palm kernel meal (PKM). The conceptual process is designed for an industrial scale biorefinery annually processing 20 kton dry weight BSG and 50 kton dry weight PKM with 8000 production hours per year and is used to techno-economically analyse the performance. The techno-economic analysis showed that the biorefinery of BSG has a high economic potential with an internal rate of return of 24 %. However, despite the high raw material costs, the biorefinery of PKM still has a positive internal rate of return of 12 %. The presented virtual biorefinery demonstrated the economic potential of integrating the production of a valuable product, like protein powder for food applications, with the production of biofuel, like ethanol, from the remaining biomass, thereby valorising larger portion of the biomass with the same raw material costs. [ABSTRACT FROM AUTHOR]

Femoroacetabular impingement (FAI) is common among the active and young population. The present study analysed the rate of return to sport, related influencing factors, and the sport activity level according to the Hip Outcome Score - Sport-Specific Subscale (HOS-SSS). The literature search was performed in December 2020. All clinical trials investigating HOS-SSS and/or return to sport after arthroscopic treatment for FAI were considered for inclusion. The outcomes of interest were to analyse the rate of return to sport and the sport activity level according to the HOS-SSS in patients who underwent arthroscopic osteoplasty for FAI. Data from 41 studies (4063 procedures) were retrieved. A total of 88.75% (581 of 655) of patients returned to sports within a mean of 37.4 ± 16.5 months. The HOS-SSS score improved from 45.0 ± 10.6 to 73.1 ± 9.5 (P < 0.0001) at last follow-up. The following baseline characteristics evidenced positive association with post-operative activity level: lighter weight (P = 0.01), younger age (P = 0.001), Tönnis angle grade I (P = 0.009), greater HHS (P = 0.01), NAHS (P < 0.0001) and HOS-ADL (P = 0.01). Arthroscopic treatment for FAI resulted in excellent results in terms of return to sport. Moreover, lighter weight and younger age, greater HHS, NAHS, HOS-ADL at baseline were positively associated with post-operative sport activity level. IV, systematic review. [ABSTRACT FROM AUTHOR]

Purpose: To evaluate return to sport (RTS) and work (RTW), as well as clinical outcomes following double level osteotomy (DLO) via combined medial open wedge high tibial osteotomy and lateral closing wedge distal femoral osteotomy for bifocal symptomatic varus malalignment, and to compare these outcome parameters between patients undergoing a single surgery and those undergoing a two-stage procedure.Methods: Consecutive patients who underwent DLO for symptomatic varus malalignment between 12/2007 and 03/2018 were enrolled. Patients converted to arthroplasty (n = 3) during follow-up were excluded. Outcome measures included the International Knee Documentation Committee (IKDC) Score, Western Ontario and McMaster Universities Osteoarthritis Index (WOMAC), Lysholm score, Tegner Activity Scale, and visual analog scale (VAS) for pain, which were collected preoperatively and at a minimum of 24 months postoperatively. RTS and RTW were evaluated by questionnaire. Outcome measures were compared between DLO performed in a single- versus a two-stage surgery.Results: Thirty-two patients (mean age: 44.2 ± 12.6 years), who underwent DLO for varus malalignment (10.1° ± 2.9°) were included at a mean follow-up of 56.9 ± 35.3 months (range: 24-148). Compared to preoperatively, these patients significantly improved in IKDC (50.4 ± 13.9 to 66.1 ± 15.4; P < .001), WOMAC (29.7 ± 19.2 to 11.8 ± 13.5; P < .001) and Lysholm (53.6 ± 23.6 to 73.1 ± 23.6; P = .002) scores at final follow-up. For the WOMAC score, 78% of the patients included reached the minimally important clinical difference, along with a significant reduction of the VAS for pain (5.0 ± 3.0 to 2.5 ± 2.4; P < .001). Postoperatively, 96% of patients returned to sport after 7.7 ± 4.8 months, but at a lower frequency (P = .010) and to fewer disciplines (P = .005) with a shift to low-impact sports. 90% of the patients returned to work at a mean 5.9 ± 9.4 months, with 79% reporting a similar or superior working ability. Patients undergoing a two-stage procedure recovered to full physical working ability at a significantly longer duration, as compared to a single-stage procedure (9.8 ± 3.8 vs 9.0 ± 13.1 months; P = .047).Conclusion: The majority of patients undergoing DLO for symptomatic varus malalignment, who were not converted to arthroplasty, experienced clinically significant functional improvement at mid-term follow-up. Return to sport and work rates in these patients were high; however, a shift to lower-impact sports disciplines was observed. Similar clinical outcomes can be expected when performing DLO in a single surgery or a two-stage procedure.Level Of Evidence: Retrospective case series; Level IV. [ABSTRACT FROM AUTHOR]

Purpose: To evaluate the rate and duration of return to work in patients undergoing Latarjet for failed soft-tissue stabilization or glenoid bone loss.Methods: Consecutive patients undergoing Latarjet from 2005 to 2015 at our institution were retrospectively reviewed at a minimum of 2 years postoperatively. Patients completed a standardized and validated work questionnaire, Western Ontario Shoulder Instability Index Survey, and a satisfaction survey.Results: Of 89 eligible patients who had Latarjet, 67 patients (75.3%) responded to the questionnaire, of whom 51 patients (76.1%) were employed within 3 years before surgery (mean age: 29.9 ± 11.8 years; mean follow-up: 54.6 ± 11.9 months) and had an average glenoid bone loss of 14.5 ± 6.1%. Fifty patients (98.0%) returned to work by 2.7 ± 3.0 months postoperatively; 45 patients (88.2%) patients returned to the same level of occupational intensity. Those who held sedentary, light, moderate, or heavy intensity occupations returned to their previous occupation at a rate of 100.0%, 93.3%, 90.0%, and 66.7% (P = .2) at a duration of 1.2 ± 1.6 months, 1.8 ± 1.9 months, 3.1 ± 3.5 months, and 6.5 ± 4.1 months (P = .001), respectively. The average postoperative Western Ontario Shoulder Instability Index score was 70.9 ± 34.2. Fifty patients (98.0%) noted at least "a little improvement" in their quality of life following surgery, with 35 patients (68.6%) noting great improvement. Furthermore, 49 patients (96.1%) reported being satisfied with their procedure, with 25 patients (49.0%) reporting being very satisfied. Four patients (7.8%) returned to the operating room, with 1 patient (2.0%) requiring arthroscopic shoulder stabilization.Conclusions: Approximately 98% of patients who underwent Latarjet returned to work by 2.7 ± 3.0 months postoperatively. Patients with greater-intensity occupations had a longer duration of absence before returning to their preoperative level of occupational intensity. Information regarding return to work is imperative in preoperative patient consultation to manage expectations.Level Of Evidence: IV, case series. [ABSTRACT FROM AUTHOR]

A feasibility study is essential before installing a power generation system to recover waste heat from nuclear power plants, but not yet been done. Hence, nine possible waste heat locations of Indian nuclear power plants are identified and two feasible cases (case-1 and case-2) are deduced to use the organic Rankine cycle (ORC) as a bottoming cycle. Energy, exergy, economic and environmental performances are evaluated for feasible cases with three working fluids. Capital investment in alternator has been correlated based on market data and applied in economic analysis. The economic study is based on Net present value, Discounted payback period, Levelized cost of energy, Internal rate of return, Profit and per unit build-up cost of ORC to suggest whether the installation is worth to venture or not. The result shows that below 41 °C condenser temperature, case-2 based bottoming ORC should be the priority to install and at the availability of sufficient funds, both cases can be installed, which will cumulatively produce 486.2 kW of electricity from waste energy with a total of 201.14 thousand USD annual profit from the total capital investment of 723.74 thousand USD. In 40 years of the project's lifetime, a total of 1.317 million USD will be used if both cases are employed and the invested cost will be returned in 8.3 years. • Feasible waste heat locations of nuclear plants are identified to use organic Rankine cycle. • Energy, exergy, economic and environmental performances are evaluated. • Payback period, Levelized cost of energy, Internal rate of return, Profit are evaluated. • Total annual profit of 201140 USD can be earned from investment of 723740 USD. [ABSTRACT FROM AUTHOR]

Background: Potential pharmacy students need a financial frame of reference to compare alternative fields of study or even determine if studying is financially worthwhile.Objective: Estimate the rate of return to a pharmacy education investment in the U.S.Methods: A model is used to estimate the rate of return to a pharmacy education. It is formulated using exclusively present values (i.e., dollars at 2019 prices). Several assumptions are made regarding the individual getting the education, the costs incurred, the amount borrowed, and the benefits derived. The robustness of the model is tested using sensitivity analysis and the rate of return is recalculated each time.Results: The estimated real rate of return to a pharmacy education investment in the U.S., devoid of inflation and under the assumptions initially postulated in the model, is 4.89%. The nominal rate of return is 6.44%. Post-estimation sensitivity analysis shows that the real rate of return is relatively inelastic with respect to changes in eight inputs considered, thus indicating robustness in the results of the model.Conclusions: The real rate of return estimated here establishes pharmacy as a financially viable occupation for young individuals possessing the aptitude and commitment to pursue a patient-centered career in medication management. [ABSTRACT FROM AUTHOR]

We compare the predictive performances of AR- t -GARCH and recent QAR-Beta- t -EGARCH models. We compare predictive performances for those days when an extreme value is observed, and also for the trading day after each day when an extreme value is observed. We use a historical dataset from the adjusted Dow Jones Industrial Average (DJIA) index. We assume that the forecast users of this study are DJIA options investors. We find that AR- t -GARCH dominates QAR-Beta- t -EGARCH on each day when an extreme value is observed, and QAR-Beta- t -EGARCH dominates AR- t -GARCH on the trading day after each day when an extreme value is observed. [ABSTRACT FROM AUTHOR]

This study evaluated the potential of energy generation from anaerobic co-digestion (AcD) of vinasse and hemicelluloses hydrolysate within the context of an integrated 1G-2G sugarcane biorefinery as a mean to ensure its technical, economic and environmental feasibility. Environmental impact indexes for 2G ethanol and biogas production process, such as carbon footprint, which varied from 12.3 to 50.02 g CO 2 /MJ and reduction of greenhouse gas (GHG) emissions (from 42.7 to 85.9%), were obtained in all scenarios. Economic indicators showed the unviability of 1G-2G sugarcane mill integration adopting AcD of wastes, considering technologies for 2G ethanol production in view of their high capital and operational costs (pretreatment). However, by fixing the experimental methane yield at 0.245 Nm3 kg COD−1 r which has been obtained for two-stage anaerobic systems and by considering the use of 50% of bagasse surplus for biogas production, it was possible to achieve internal rate of return (IRR), return on investment (ROI) and payback period of 21.8%, 59.50% and 10.55 years respectively. Moreover, when experimental methane yield is increased in 10% in such scenario, it was possible to achieve internal rate of return (IRR), return on investment (ROI) and payback period of 26%,89.05% and 5.36 years, respectively. [ABSTRACT FROM AUTHOR]

Social and political concerns on climate change have made renewable energy an essential component of government's work plans. Grid-connected horizontal-axis hydrokinetic turbines are promising eco-friendly power sources for electrical energy supply to households near middle-to-high discharge rivers, while providing an opportunity to sell the energy surplus. In this work, a rotor design analysis of a hydrokinetic turbine with a 1 m nominal radius is performed based on blade element momentum theory. Then, an economic analysis is presented in terms of the discounted payback period and the internal rate of return. The numerical results show that three-bladed hydrokinetic turbines with a nominal tip speed ratio of 5 and state-of-the art high lift-to-drag ratio hydrofoils (∼ 100) lead to maximum performance with a power coefficient around 0.45. Performance can be further improved in an affordable manner using diffuser-augmented hydrokinetic turbines. The use of hydrokinetic energy in household applications can be profitable in leading economic countries with a discounted payback period of 4–6 years. In energy developing countries, this technological solution can be cost effective accompanied by economic subsides and implementation of a local industry, resulting in similar payback periods. • Hydrokinetic energy for household applications in middle-to-high discharge rivers is analyzed. • Rotor design using BEM theory and economic analysis are presented. • Three blades with a tip speed ratio of 5 and high Cl/Cd maximize performance. • The investment is profitable with a discounted payback period of 4–6 years. • Economic subsides in countries with a high discount rate are necessary. [ABSTRACT FROM AUTHOR]

Designing off-grid microgrids is a costly and risky activity, especially for newly electrified communities in developing countries. Private developers and researcher have been using several economic indicators to value the profitability of an investment, such as Net Present Value, Discounted Payback Period, Levelized Cost of Electricity; however, each index has its advantages and specific limitations. Selecting a single objective may lead the developer to misestimate the profitability of a project, because a single index cannot accommodate the variety of requirements of the business process. Acknowledging this, this study proposes a wide analysis for highlighting the effects of different indicators onto the optimal design of an off-grid system. A multi-objective approach that optimizes together different economic indicators is proposed, based on the results of a preliminary analysis on single-objective formulations. A sensitivity analysis with respect to the electricity price, the load curtailment cost and the dispatching strategy is also performed. A numerical case study is proposed for a possible off-grid microgrid in Soroti, Uganda, which well represents a hard environment for business development. Results suggest that the proposed multi-objective approach provides intermediate configurations that are a good compromise between multiple objectives, thus satisfying the difficult environment developers are enduring. • Multi-objective economic optimization to maximize business opportunities. • Analysis of different objective functions for the optimal design of the minigrid. • Modified Internal Rate of Return applied to hybrid microgrids. • Numerical case study for an off-grid system in developing countries. • Sensitivity analysis w.r.t. indicator, load curtailment cost and operating strategy. [ABSTRACT FROM AUTHOR]

Despite the importance of cost of capital and expected returns from investing on renewable electricity generation in Africa on one hand and the implications of such investments on economic, social and environmental factors on the other. These concepts are not well understood by non-finance and finance actors respectively. Studies that analyze renewable energy-growth nexus at regional and global level are lacking. Instead, existing studies emphasize on individual countries or panel of countries. The paper undertakes comparisons of costs and returns of selected renewable energy technologies in Africa and presents estimates of its impact on Africa's economic growth between 1990 and 2014. Even with abundant renewable resources and well performing technologies measured using levelized cost of electricity and expected internal rate of return, investment on renewable electricity generation is quite low. Findings from Autoregressive Distributed Lag approach and cointegration established a long run relationship among hydro power generation, carbon emissions and electricity consumption. Error Correction Model results suggest that investment in renewable generations excluding hydro power generation is boosted by economic growth, so long as development of such renewables corresponds with lesser carbon emissions. To accelerate renewable development, SSA countries will need to deploy initiatives that enhances national economic growth. [ABSTRACT FROM AUTHOR]

The benefits of the use of horizontal U-type and spiral-coil-type ground heat exchangers (GHE) were investigated and compared based on heat transfer performance and economic analysis. The feasibility of a novel backfill material (controlled low-strength material) for a horizontal ground heat exchanger was also assessed. A numerical analysis model was developed to simulate the heat transfer in a horizontal ground source heat exchanger and calculate the annual heat exchange using 100 case studies with different GHE types, backfill materials, fluid velocities, and installation depths. A thermal response test was conducted using a spiral-coil GHE backfilled with sand and a controlled low-strength material to validate the numerical model. The economic feasibility of each case was investigated using analytical tools including the annual heat exchange, payback period, and internal rate of return. The results indicate that, although a spiral-coil-type GHE has 30% higher total initial installation costs, its high annual heat exchange (twice that of U-type) results in a shorter payback period (12.7 years compared with 8.4 years for U-type) and a higher internal rate of return (12.0% compared with 6.9% for U-type). The use of a controlled low-strength material leads to a slight increase in the initial investment; however, as expected, its high heat exchange capacity shows better long-term economic performance than a ground heat exchanger backfilled with normal soil. [ABSTRACT FROM AUTHOR]

Population growth has increased the production of municipal solid waste (MSW). The processes of degradation of MSW generate products poluants such as biogas. However, reforming biogas into biomethane for energy use can reduce impacts and increase energy supply. This study aimed to assess the technical and economic feasibility of using biomethane generated from landfills in the Southeastern region of Brazil to supply vehicles. The economic feasibility of this endeavor was verified using Net Present Value (NPV), and the Internal Rate of Return (IRR). We estimated Greenhouse Gas (GHG) emission reductions by replacing diesel with biomethane, using a methodology proposed by the Intergovernmental Panel on Climate Change. We analyzed 50 different landfill consortia. Consortia with installed capacity less than 5500 m³/day were economically unviable. The NPV ranged from around US$-20.00 million to US$120.00 million, while project IRR, with CAPEX from US$ 4 million, remains approximately constant, around 35%. Replacing diesel oil with biomethane produced can offset 29.14 trillion tons of CO 2eq emissions. Biomethane is one option for replacing fossil fuels. This study is innovative because it presents an analysis of biomethane's energy and economic potential in southeastern Brazil, the country's most developed region, helping develop the national biomethane market. [Display omitted] [ABSTRACT FROM AUTHOR]

This study aims to investigate the utilizability of Photovoltaic (PV) application by qualitative and quantitative examination of hurdles on the rooftops of university buildings. The rooftops of university buildings were investigated with the help of remote sensing technique. Site surveys were also conducted to validate data. Utilizable rooftop area, available for PV application was determined by identifying restrictions, their respective coefficients and utilization factors. PV∗SOL software was utilized to simulate the rooftop PV application on university buildings and it was found that university buildings have the potential to generate 5389.2 MWh/year with an annual specific yield of 1336.6 kWh/kWp. Environmental analysis was also conducted whose results revealed that PV utilization can save 63,727.05 tons of CO 2 , 1.89 tons of CH 4 , 0.27 tons of N 2 O, 970.05 tons of SO 2 and 590.12 tons of NO emissions in 25 years. Economic assessment was also carried out in which levelized cost of electricity, discounted payback period, benefit to cost ratio, net present value and internal rate of return were determined as 0.05 USD/kWh, 11.17 years, 1.4, USD 2,682,508.01 and 11.81%, respectively. This research can benefit public and private sectors to capitalize their buildings' rooftops for reducing energy and environmental challenges. [ABSTRACT FROM AUTHOR]

As an important measure of promoting renewable energy sources (RESs), Integrated Energy System (IES) has caused wide concern. However, investors are staying on the sidelines due to the shortage of the details about investment returns. Therefore, here investigates the survivability of investment entity in Chinese IES service under contract for difference (CFD). Integrated with the intricate relationship of different entities, here constructed three evaluation models including the dynamic payback period (DPP), net present value (NPV) and internal rate of return (IRR). Considering the multipath feature of IES operation, the priority of energy utilization is proposed to promote RES consumption. According to the existing circumstance of RESs and IES, 12 operation scenarios are classified to investigate economic benefit of investment entity. Plenty of simulations show that the project benefit is affected by the contract tariff risk bigger, by the contract cycle risk slighter. Also, RESs absorption rate and RESs increase have significant influence on the investment benefits. The performances of IES with combined supply mode (CSM) are superior to that with sub-supply mode(SSM). With Chinese existing technologies and policies, the optimal scenario is S2 of which the payback period is about 6.38 years, and the internal rate of return is 18.47 %. [ABSTRACT FROM AUTHOR]

Pancreatic cancer has the highest growth in incidence among patients aged ≥80 years. Discharge destination after hospitalization is increasingly recognized as a marker of return to baseline functional status. Our aim was to identify the preoperative and intraoperative predictors of non-home discharge in those aged 80 or older. The ACS-NSQIP pancreas-targeted database was queried to identify patients aged ≥80 years who underwent pancreatoduodenectomy (PD) from 2014 to 2020. Home discharge (HD) versus non-HD cohorts were compared using univariate logistic regression. Multivariable logistic regression was used to identify predictors of non-HD. Non-HD was over twice as likely to occur in patients aged ≥80 years than in those aged 65–79 years (p < 0.01). Comorbidity factors significantly associated with non-HD in patients aged ≥80 years included COPD, hypertension, HF, lower preoperative albumin, but not obesity. Non-comorbidity factors included older age, female gender, ASA III–IV, preoperative dependent functional status, and transfer origin before PD. Individuals ≥80 years have possibly delayed or lower rate of return to baseline functional status following PD compared to those aged 65–79 years. Predictors of non-HD can be identified to facilitate preoperative counseling and discharge planning, thus enhancing care workflow efficiency. [Display omitted] [ABSTRACT FROM AUTHOR]

In this study, a biorefinery concept is presented to produce valuable platform chemicals such as γ-valerolactone (GVL), 2-methyltetrahydrofuran (2-MTHF) and 5-hydroxymethylfurfural (5-HMF) from lignocellulosic biomass via aqueous phase processing. Process simulation models are developed using Aspen Plus and a techno-economic assessment including cost estimation, energy integration, profitability study, sensitivity analysis and Monte Carlo simulation-based uncertainty analysis is carried out for evaluating the economic potential of the proposed process. The total investment for a plant with an annual production capacity of 35 kt of GVL, 17 kt of 2-MTHF and 5 kt of 5-HMF, is estimated as 257 M€. The minimum selling prices (MSPs) of GVL, 2-MTHF and 5-HMF are estimated to be 1.91 €/kg, 1.64 €/kg, and 1.93 €/kg, respectively. The profitability study revealed that the process generates an internal rate of return of 15.90%, making it viable and profitable. The sensitivity analysis indicated that the annual operational costs and fixed capital investment have the biggest influence on the minimum selling price of the products. Furthermore, based on the uncertainty analysis, the probability of loss is estimated as 17%. According to the market potential assessment, the most promising application of these platform chemicals is as biofuels and solvents. [ABSTRACT FROM AUTHOR]

This research investigates the effect of the expansion of the digital economy on the quality of regional investment introduction in China using city-level data from 2011 to 2019. The findings of the study indicate that the growth of the digital economy can greatly raise the calibre of regional investment, and this conclusion has withstood a number of robustness tests, including endogeneity. The growth of the digital economy primarily draws high-quality foreign investment through enhancing productivity, attracting talent, and increasing return on investment. A region's high-quality development plan can increase the promotion effect of the digital economy on the quality of foreign investment, but the promotion effect of the digital economy on the quality of foreign investment clearly demonstrates regional variation. [ABSTRACT FROM AUTHOR]

We propose a novel firm-level measure of speculative trading (SPT) for the Chinese stock market. Based on prior studies identifying differences of opinion as the dominant driver of speculative trading, we isolate the trading volume driven by differences of opinion from total trading volume as the speculative trading measure. We verify that SPT effectively reflects speculative trading and significantly and negatively predicts future returns. More importantly, SPT contains incremental information relative to the other speculative trading proxies. Using SPT , we further find that speculative trading plays a key role in explaining and driving the anomaly returns in the Chinese market. • We propose a novel measure SPT to capture speculative trading using PLS. • SPT significantly and negatively predicts future returns in cross-section. • SPT contains incremental information relative to the other speculation proxies. • SPT prominently explains the anomaly returns in the Chinese stock markets. [ABSTRACT FROM AUTHOR]

• This study aims to explore the impact of DSC announcements on stock market Value. • Event study and signaling theory are used in the model building. • This study reveals a positive stock market reaction to DSC announcements. • Technological innovation capability does not affect the stock market reaction. • DSC announcements in the internalization stage led to more positive reactions. • DSC announcements facing downstream supply chain lead to more positive reactions. Listed companies have implemented the digital transformation of supply chains to improve performance, and these companies usually actively issue digital supply chain (DSC) announcements to disclose important information about DSC establishments with the aim of attracting investors. This event study selects 174 DSC announcements released by Chinese-listed companies from 2018 to 2020 to explore the impact of DSC announcements on stock market performance based on signaling theory, which can be used to elucidate the critical value of DSC announcements. First, the results reveal a positive stock market reaction to DSC announcements. Second, compared with DSC announcements involving simple supply chain network structures, DSC announcements involving complex supply chain network structures lead to more positive stock market reactions. Third, technological innovation capability does not affect stock market reactions. Finally, DSC announcements in the internalization stage led to more positive stock market reactions than DSC announcements in the input and output stages. Compared with DSC announcements facing upstream supply chains or whole supply chains, DSC announcements facing downstream supply chains lead to more positive stock market reactions. This study explores the stock market value of DSCs and promotes the existing empirical literature on DSCs to help managers fully understand the market value of DSCs. [ABSTRACT FROM AUTHOR]

The European Union has been allocating funds for the energy transition to meet escalating global energy demands while minimising the environmental impact. This paper focuses on the impact of post-pandemic policies on photovoltaic technology in Italy and Portugal, specifically analysing self-consumption schemes and energy communities. A techno-economic assessment identified optimal PV systems for four families in each country, considering financial incentives. Italy offers Superbonus 110 and Ecobonus schemes, while Portugal provides access to the Environmental Fund. Profitable PV systems with storage are feasible in Italy but not in Portugal. Superbonus 110 favours smaller systems, Ecobonus supports larger ones, and Portuguese policies prioritise smaller systems. Simulations of energy communities for the same families showed that in Italy, the best configurations consist of families acting as producers with larger PV capacities and smaller batteries. In contrast, in Portugal, the policies favour smaller PV systems without batteries, resulting in optimal configurations where families are solely consumers. This research underscores diverse national approaches to post-pandemic energy policies and their nuanced impacts on PV technology in Italy and Portugal. It can be concluded that energy communities offer greater profitability than individual self-consumption schemes. This is because individual households continue to prioritise self-consumption and personal savings while selling their excess energy at a more favourable price than what they would receive from the grid. • In Italy, there are financial incentives and in Portugal, electricity cost reductions. • The models used the Net Present Value and the Internal Rate of Return as indicators. • In Italy, Superbonus 100 favours smaller systems, while Ecobonus supports larger ones. • Smaller systems without batteries for self-consumption are more profitable in Portugal. • Energy communities are more economically viable in both countries. [ABSTRACT FROM AUTHOR]

Islands have the potential to be precursors in the transition to clean energy, by adopting new technologies and applying innovative solutions that can serve as showcases at an international level. This paper is a contribution towards understating the importance of community engagement on energy transition processes. It covers multiple aspects of a green transition process, including technical, environmental, social, and economic issues. Starting by a participatory diagnosis process, the community of a small island located in Portugal (Culatra Island, Algarve), was challenged to lead the transition process and define different pillars of energy transition. The process brought together local authorities, academia, citizens and companies. Using practical examples, it is shown how the community is succeeding in tailoring new technological solutions for a green transition, according with the specific needs of the island, as expressed by the islanders themselves, including batteries, electric vehicles, retrofitting of homes, or heat pumps, which, when combined, could lay the foundations for the creation of a Renewable Energy Community and leverage socioeconomic benefits. •The vision is to create an island' energy community based on participatory economy. •Energy generation, revenues and internal rate of return are presented. •The energy layout plant can generate 35% of the total energy consumed in the island. •There is a potential to the island become autonomous in terms of energy production. • Adjusting consumption to generation can be achieved through demand response. [ABSTRACT FROM AUTHOR]

The rising trend of solar PV generation from ground based installations has led to competition for land between agriculture and PV generation. The solution to this challenge lies in the agri-voltaic system (AVS). The AVS systems allows agricultural activities on land while provides opportunity for PV generation and thus returns additional income from land. Therefore, the Governments of many countries e.g. Japan, France, USA, South Korea, and China have already introduced policies for installation of AVS on agricultural land. Following this trend, policy to install AVS in farmers field has also been launched in India under the national level scheme called KUSUM (Kisan Urja Suraksha evam Utthan Mahaabhiyan) targeting for energy security and upliftment campaign for farmers. Under the scheme, subsidy is gurranted for installation of PV power plants in farmers field with a capacity between 0.5 and 2 MW p and on-grid net metering connection of the PV power plant. After announcement of the scheme, there has been increasing interests for installation of AVS by farmers, however, limited knowledge on techno-economic performance of the system, field scale installations of it has been hindered. In the present study, techno-economic analysis of different designs of AVS systems (105 kW p) established at ICAR-Central Arid Zone Research Institute has been evaluated with several combinations of rainfed and irrigated crops. Field performance of the AVS system of 105 kW p has been used to extrapolate cost and returns for 520 kW p system, which lies in the range of KUSUM target. Five AVS designs were considered in the study: extrapolated into 520 kWp AVS and compared theoretically with the price and returns of a photo-voltaic ground-mounted (PV-GM) plant the same capacity. Among five designs of PV arrays in the AVS, the one-row full density photovoltaic array with irrigated brinjal recorded the highest combined net returns of PV + crop components followed by rainfed snap melon. Based on the highest returns per hectare basis, the economic analysis of AVS design for rainfed and irrigated crops is compared to PV-GM. The higher values of life cycle benefit (LCB) could lead to higher net present worth (NPW) of AVS over PV-GM. The higher values of internal rate of return (IRR) in AVS lead to quicker repayment of investment cost as indicated by the pay-back period (PBP), which is shorter by 0.5 and 1.14 years in AVS one row PV array in rainfed and irrigated as compared to PV-GM (8.61 years). Moreover, the one row PV array with irrigated had the lowest Levelized cost of electricity generation (LCOE) (INR 3.17 kWh−1), which is much lower than the prevailing electricity tariff (INR 5.0 kWh−1). Hence, it is inferred that crop production can be very economical for an AVS. AVS technology shows flexibility up to 6% escalation in cost with no escalation in returns, as is indicated by sensitivity analysis. One row full density with irrigated is found the best system based on sensitivity analysis and economic feasibility. The economic analysis of AVS designs in this study is similar to the cost of other PV systems worldwide. Therefore, all PV systems analyzed represent a relatively safe investment. • Different designs of AVS with options to grow crops were established in arid region of India. • Technoeconomic of the AVS was evaluated following targets of KUSUM, a scheme of Govt of India. • AVS design with single row full density PV modules recorded the highest returns with brinjal. • LCOE (3.17 kWh−1) was found lowest with AVS design with single row full density PV modules. [ABSTRACT FROM AUTHOR]

Coke oven gas (COG) is an important energy resource that rich in hydrogen and methane, which is conventionally used for industrial heating but is embarking on high-quality utilization routes to produce bulk energy and materials. Previous work emphasized the comparison of COG utilization with external competitors but has limited understanding of the internal competitiveness of different COG utilization routes, making it impossible to scientifically guide the high-quality utilization of COG. This study proposed a technology-environment-economy assessment framework to compare the competitiveness of six high-quality COG utilization routes called COG to electricity (COGTE), COG to methanol (COGTM), COG to hydrogen (COGTH), COG to synthetic natural gas (COGTSNG), COG to synthetic ammonia (COGTSA), and COG to olefins (COGTO). The framework employed the life cycle assessment method based on an economic functional unit to calculated individual indicators and used the entropy weight method to integrate these indicators to a comprehensive score. The results show that energy consumption, water consumption, and carbon emission are critical defects of COGTSNG, COGTM, and COGTE, respectively. Net present value rate, internal rate of return, and dynamic payback period are common but differentiated disadvantages of the five COG utilization routes other than COGTO with the current market price, which are the main factors of their weaker comprehensive competitiveness. COGTO is expected to be the most promising high-quality COG utilization route thanks to its excellent competitiveness, handsome market demand, and special policy preferences. In addition to COGTM, any of the other five COG utilization routes are likely to be most competitive when raw material and product prices fluctuate by 25%, which suggests that the investment should be tailored to local specific prices, demand, and policies. • A technical-environmental-economic competitiveness assessment model is proposed. • NPVR, IRR, and DPP of COGTO reach 111.6%, 23.6%, and 5.1 years, respectively. • COGTO presents the strongest comprehensive competitiveness at the current price. • Flexible investment should be implemented when the price fluctuates. [ABSTRACT FROM AUTHOR]

There is a growing demand for large-market natural and biotechnological products driven by shifting consumer preferences in food and calls for decentralized vaccine and medication production capabilities. The current paradigm of bioreactor-based biomanufacturing faces difficulties of scalability and a high entry barrier of capital intensity and workforce specialization. Field-grown plant-based manufacturing, as an inexpensive and readily scalable platform, is a promising strategy to meet this call. Despite some successes in field-grown bioproducts manufacturing, concerns, including process variability, have largely stymied adoption. Here we report on the development of techno-economic modeling coupled with Monte Carlo simulation as an effective tool to quantify, and mitigate, the impact of variation in field-grown plant-based manufacturing on profitability-related (internal rate of return, cost of goods) and process performance (product purity, annual throughput) forecast variables. In the base case, we observe 80.8% certainty of meeting all forecast variable specifications, defined generically to represent those of a high-volume food-grade commodity product. We observe an internal rate of return (with a selling price of $2275/kg bioproduct) as low as 10.7% and as high as 47.9% across facility scenarios. We also demonstrate optimization under uncertainty in a facility retrofitting to find a profitability-optimal chromatography column diameter of 1.2 m. [ABSTRACT FROM AUTHOR]

• We scrutinize a global database of estimated returns to agricultural R&D investments. • Reported R&D returns differ substantially between developed and developing countries. There is widespread professional consensus that agricultural research and development (R&D) realizes high economic returns, though there are concerns as to whether the returns have been declining over the past few decades and are unevenly distributed among different regions in the world. This study examines both the time trend (i.e., increasing or decreasing) and regional developmental differences in the reported returns to agricultural R&D. Using a newly updated and expanded global database of estimated returns to agricultural R&D and a robust statistical methodology, we find that after accounting for methodological changes and other study attributes that have varied over time, the contemporary returns to agricultural R&D investments are as high as ever. We also conduct a Oaxaca decomposition to assess the relative importance of differences among countries in study attributes (e.g., what research was evaluated, by whom, and how) versus differences in how these attributes relate to the IRR (e.g., model parameter estimates). We find that the regional differences in study attributes tend to result in higher IRR estimates in developed countries, whereas developing versus developed country differences in the marginal effects of the attributes on the estimated IRRs tend to result in higher estimates in developing countries. [ABSTRACT FROM AUTHOR]

Brown coal is one of the dominant local strategic raw materials in Europe, used, to a large extent, in the power-generating industry. The current situation, where the price of gas and electricity precludes the efficient use of gas sources, leads to the extraction of older sources, chiefly brown coal ones. In tandem with a turning away from nuclear power, brown coal is experiencing a renaissance and the issue of brown coal price setting is, and will be, relevant. This paper deals with a proposal of a new method for determining the base price, consisting of defining the reference fuel chain for electricity and heat production based on brown coal. It builds on the notion that the degree of risk of the involved parties should be reflected in the modified amount of revenue per capital invested. The resulting price is then an economically justified price which encourages a respect for the specific features of the market in question and set the base price of the commodity in a way that is acceptable for both the extractive and the productive components of the fuel chain. [ABSTRACT FROM AUTHOR]

[Display omitted] • HYSYS simulation of 2 modular processes: Fischer-Tropsch and Direct CH 4 to Methanol. • Techno-economic assessment was performed comparing the two processes. • Effect of tailgas recycle ratio and water integration on F-T process were studied. • Effect of methane recycle on the performance of the DMTM were studied. • Energy and performance metrics and benchmarks were identified. The aim of this study is to perform a techno-economic assessment of the Fischer-Tropsch synthesis (FTS) process in a microchannel reactor (MCR) to produce clean syncrude, and the Direct Methane to Methanol (DMTM) process in a compact plant footprint. The operational and economic performances of the two processes were modeled using the Aspen HYSYS v7.2. The operational performance parameters include products yield and the economic performance parameters include net present value (NPV), payback period (PBP) and internal rate of return (IRR). In addition, the effects of tailgas recycle ratios and water integration on the performances of the FTS process and the effect of methane recycle ratios on the performances of the DMTM were investigated. The simulation results showed that the unit cost of the DMTM process was sensitive to the methane recycle ratio, however, that of the FTS in MCR was less sensitive to the tailgas recycle ratios. In order to maintain an IRR > 10 %, the tail gas recycle ratio of the FTS in MCR had to be greater than 8 % and 30 %, at CO conversions of 80 % and 72 %, respectively, whereas in the DMTM process, a minimum methane recycle ratio of 60 % was required to achieve any profitability. In addition, the DMTM process appeared to have significantly higher net energy requirements per product yield when compared with those of the FTS in MCR process; however, both processes had higher energy requirements than those of conventional GTL technologies. [ABSTRACT FROM AUTHOR]

Environmental, social, and governance (ESG) practices can play a crucial role in promoting green recovery by fostering sustainable and responsible economic growth. Based on a novel dataset of Japanese listed companies from January 2016 to December 2021, this study examines the effect of corporate (ESG) performance on the Japanese stock market during the COVID-19 pandemic. We contribute additional evidence to the literature by exploring the unique role of ESG factors that affect stock markets during economic downturns. The results of the study show a positive association between corporate ESG performance and stock returns during the COVID-19 period. Furthermore, we demonstrate that strong ESG performance contributed to enhanced stock market stability and increased market liquidity in Japan during the COVID-19 pandemic. These results provide a rationale for implementing supportive measures and regulations that encourage companies to adopt and disclose robust ESG practices. By doing so, they can contribute to the stability and liquidity of the stock market and fostering sustainable economic growth. [ABSTRACT FROM AUTHOR]

This study investigates the impact of COVID-19 pandemic on the Chinese stock market in 2020. Using daily data of three industries, this study addresses the identification of abnormal stock returns as a multiple hypothesis testing problem and proposes to apply a grouped comparison procedure for better detection. By comparing the numbers of daily signals and numbers of stocks with abnormal positive and negative returns, the empirical result shows that the three industries perform differently under the pandemic. Compared to the non-grouped testing procedure, the signals found by the grouped procedure are more prominent, which is advantageous for some situations when there tends to be abnormal performance clustering at the occurrence of major event. This paper on stock return anomalies gives a new perspective on the impact of major events to the stock market, like the global outbreak disease. [ABSTRACT FROM AUTHOR]