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Introduction: Inside-out and all-inside arthroscopic meniscal repairs are widely performed. However, it remains unclear which method promotes greater clinical outcomes. This study compared inside-out versus all-inside arthroscopic meniscal repair in terms of patient-reported outcome measures (PROMs), failures, return to play, and symptoms. Methods: This systematic review was conducted in accordance with the PRISMA guidelines. Two authors independently performed the literature search by accessing the following databases: PubMed, Google Scholar, and Scopus in February 2023. All clinical studies which investigated the outcomes of all-inside and/or inside-out meniscal repair were considered. Results: Data from 39 studies (1848 patients) were retrieved. The mean follow-up was 36.8 (9 to 120) months. The mean age of the patients was 25.8 ± 7.9 years. 28% (521 of 1848 patients) were women. No difference was found in PROMs: Tegner Activity Scale (P = 0.4), Lysholm score (P = 0.2), and International Knee Document Committee score (P = 0.4) among patients undergoing meniscal repair with all inside or inside-out techniques. All-inside repairs showed a greater rate of re-injury (P = 0.009) but also a greater rate of return to play at the pre-injury level (P = 0.0001). No difference was found in failures (P = 0.7), chronic pain (P = 0.05), reoperation (P = 0.1) between the two techniques. No difference was found in the rate of return to play (P = 0.5) and to daily activities (P = 0.1) between the two techniques. Conclusion: Arthroscopic all-inside meniscal repair may be of special interest in patients with a particular interest in a fast return to sport, while, for less demanding patients, the inside-out suture technique may be recommended. High-quality comparative trials are required to validate these results in a clinical setting. Level of Evidence: Level III, systematic review. [ABSTRACT FROM AUTHOR]

Purpose: Return to preinjury levels of performance (RTP) is the main goal after anterior cruciate ligament reconstruction (ACL‐R) for athletes when ACL graft rupture is a career‐threatening event. The purpose of this study was to elucidate the associated factors for RTP and subsequent ACL injury after ACL‐R using bone‐patellar tendon‐bone (BPTB) or hamstring (HT) autograft in high‐level athletes with a minimum postoperative follow‐up of 24 months. Methods: This retrospective study included 157 patients who had preinjury Tegner activity level of 9 and underwent primary ACL‐R using BPTB (average age, 16.9 years; 35 males and 36 females) or HT (average age, 17.2 years; 49 males and 37 females). The mean follow‐ups were 33.6 months in BPTB and 44.5 months in HT, respectively. The data were obtained based on routine clinical follow‐ups and telephone interviews performed by the surgeon. Multivariate logistic regression analysis was conducted to determine the association of patient variables with RTP and subsequent ACL injury. Results: Ninety‐nine patients (63.1%) were able to RTP. The rate of RTP in BPTB (74.6%) was significantly higher than that of HT (53.5%) (p < 0.05). The overall average timing of RTP after ACL‐R was 10.0 months while that was significantly earlier in BPTB (9.7 months) than in HT (10.5 months) (p < 0.05). Twenty‐three (14.6%) and 21 patients (13.4%) had ACL graft ruptures and ACL injuries in the contralateral knees, respectively. Multivariate analyses showed that BPTB (odds ratio [OR], 2.590; 95% confidence interval [CI], 1.300–5.160; p = 0.007) was associated with a higher potential for RTP after ACL‐R. The incidence of ACL graft rupture after ACL‐R decreased with BPTB (OR, 0.861; 95% CI, 0.770–0.962; p = 0.009). Conclusions: The use of BPTB autograft was associated with a higher rate of RTP and a lower incidence of ACL graft rupture compared to ACL‐R using HT autograft. Level of Evidence: Level IV, retrospective case series. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study was to compare the results of arthroscopic isolated Bankart repair (B) with Bankart repair plus Remplissage (B + R) procedure in contact overhead athletes with on-track anterior shoulder instability. Methods: A total of 64 athletes playing basketball, volleyball and handball in elite professional level who underwent arthroscopic isolated Bankart repair (34 patients) or Bankart repair plus Remplissage procedure (30 patients) with the diagnosis of recurrent anterior shoulder instability between 2017 and 2020, were retrospectively reviewed. Radiologically all patients had on-track Hill-Sachs defects and minimal or subcritical glenoid bone loss (< 13.5%). Patients were evaluated using pre- and postoperative pVAS, SANE, ASES, ROWE, WOSI scores and postoperative active ROM assessment. Patients were also asked for the frequency of any subjective apprehension and satisfaction with the surgery in four grades. Results: The mean ages of the groups B and B + R were 26.8 and 26 years (SD = 3.22), respectively; the mean follow-up times were 37.8 and 36.2 months (SD = 11.19). Compared with the preoperative status, there was a statistically significant improvement of all 5 postoperative outcome scores in both groups (P < 0.001). However, significant difference between the improvement of the groups were only found for the SANE (B: 22.3 ± 4.1, B + R: 26.3 ± 4.3; P = 0.0004), ASES (B: 26.1 ± 2.6, B + R: 30.2 ± 3.6; P < 0.001) and ROWE (B: 42 ± 3.7, B + R: 47.7 ± 2.8; P < 0.001) scores in favor of the group B + R. The loss of internal and external rotation of the adducted arm in group B + R was found to be approximately 5 degrees compared to the group B (P < 0.001). More than 80% of group B + R showed no apprehension in sports activities and almost completely returned to pre-injury athletic level, depicting statistically significant improvement compared to group B athletes (P = 0.002 and 0.036, respectively). 3 patients developed re-dislocation after isolated Bankart repair, whereas no re-dislocation occurred in the B + R group. Conclusion: Adding Remplissage procedure to the Bankart repair provided an advantage in terms of both return to sport at preinjury level and the frequency of apprehension sensation during sports activity. Level of evidence: III. [ABSTRACT FROM AUTHOR]

To facilitate return to work (RTW) in patients with stroke, a health and employment support (HES) program was started at Rosai hospitals in Japan. This study aimed to determine the rate of RTW in patients with stroke under this support program. We collected demographic and clinical data of patients with stroke from the implementation reports of the HES program. The program provided coordinated dual support, such as acute medical treatments, and stroke and vocational rehabilitation on the medical side, and management and support on the workplace side. The primary endpoint was RTW. Successful and unsuccessful RTW were examined using the χ2 test. The RTW rate curves were analyzed using the Kaplan–Meier method. We enrolled 483 patients; 355 (73%) and 128 (27%) patients had successful and unsuccessful RTW, respectively. Stroke types, neurological findings, and activities of daily living were significant factors for RTW. The Kaplan–Meier method revealed that left hemiplegia, right hemiplegia, and neuropsychological deficits, except for combined disability (hemiplegia with neuropsychological deficits), had similar RTW curves with an RTW rate of > 70%. [ABSTRACT FROM AUTHOR]

We present new estimates of the internal rate of return to early childhood education. Utilizing the nationwide expansion of preschool education in Japan between 1960 and 1980, we initially assess the impact of preschool attendance on high school graduation and college enrollment for men. Subsequently, we compute the social rate of return to preschool attendance for men by drawing upon national wage statistics to project expected wage trajectories and referencing government documents to account for the social cost of preschools. Our findings indicate a social rate of return ranging from 5.7% to 8.1%, consistent with previous estimates in the literature. [ABSTRACT FROM AUTHOR]

To facilitate return to work (RTW) in patients with stroke, a health and employment support (HES) program was started at Rosai hospitals in Japan. This study aimed to determine the rate of RTW in patients with stroke under this support program. We collected demographic and clinical data of patients with stroke from the implementation reports of the HES program. The program provided coordinated dual support, such as acute medical treatments, and stroke and vocational rehabilitation on the medical side, and management and support on the workplace side. The primary endpoint was RTW. Successful and unsuccessful RTW were examined using the χ2 test. The RTW rate curves were analyzed using the Kaplan–Meier method. We enrolled 483 patients; 355 (73%) and 128 (27%) patients had successful and unsuccessful RTW, respectively. Stroke types, neurological findings, and activities of daily living were significant factors for RTW. The Kaplan–Meier method revealed that left hemiplegia, right hemiplegia, and neuropsychological deficits, except for combined disability (hemiplegia with neuropsychological deficits), had similar RTW curves with an RTW rate of > 70%. [ABSTRACT FROM AUTHOR]

The ongoing demographic change in most developed countries consists of two coinciding independent developments that differ in structure and persistence: A slow, monotonic and (presumably) permanent longevity effect caused by an increasing life expectancy; and a more rapidly changing, non-monotonic and less permanent cohort effect caused by fluctuations in the size of cohorts. This paper shows the longevity effect has a positive impact on the rates of return households generate within a pay-as-you-go (PAYG) pension system. The cohort effect, by contrast, results in winners and losers in PAYG systems. The paper additionally shows that the type of PAYG pension system alters the results significantly. Taking the remarkable demographic change in Germany as an example, a large-scale overlapping generation model quantifies rates of return within the PAYG pension system for every cohort. The results show that the two effects combined cause return differentials of almost 1.3 percentage points between generations. [ABSTRACT FROM AUTHOR]

A portfolio selection model with return as triangular intuitionistic fuzzy number is developed in this study to assess and select portfolios on China Stock Exchange. Although the portfolio selection has been widely investigated, and most studies have regarded return and risk as the main decisive criteria, there are many uncertainties in the financial market, such as social, political and human psychological factors, which makes it difficult for us to describe the risks in line with empirical evidence. To fill this gap, first, a literature review was conducted to clarify the current situation and shortcomings of portfolio selection. Second, the triangular intuitionistic fuzzy number was used to fuzzify the coefficients of the objective function and the constraints in the portfolio model. Third, the triangular intuitionistic fuzzy number model was transformed into a linear programming model by using the selected exact ranking function, and the model was solved by MATLAB. Finally, the historical monthly returns of 10 stocks in China's Stock Exchange from December 2017 to November 2020, lasting 36 months, were selected to demonstrate the model. The results indicate that the portfolio selection model with triangular intuitionistic fuzzy number can better meet the uncertainty of the real securities market, and more reasonable investment decision guidance can be provided for investors. Besides, the limitations of this study are pointed out, and implications and directions for future research are discussed. [ABSTRACT FROM AUTHOR]

This paper assesses the profitability of battery storage systems (BSS) by focusing on the internal rate of return (IRR) as a profitability measure which offers advantages over other frequently used measures, most notably the net present value (NPV). Furthermore, this study proposes a multi-objective optimisation (MOO) approach to IRR estimation instead of relying on the simple linear optimisation and compares the results to the popular linear optimisation with battery cycle-cost penalty. The analysis is conducted under perfect foresight conditions by considering multiple revenue streams: arbitrage trading in the day-ahead and intraday markets, peak shaving, participating in the primary reserves market, and from photovoltaic (PV) power-generation unit. Data are collected for the German power market for 2017 and 2021. The results show that MOO approach yields similar IRR estimates to the cycle-cost model in 2017. However, higher market volatility and increased electricity prices in 2021 resulted in tangible differences. The analysis shows that, if such conditions are coupled with a low battery capacity price, the MOO method significantly outperforms the cycle-cost model. The effects of battery calendar lifetime and state of charge which decrease profitability are also considered. Nevertheless, a noticeable rise in profitability in 2021 relative to 2017 could provide enough compensation to address the issue of relatively poor viability track record. [ABSTRACT FROM AUTHOR]

One of the most attractive indexes to select the best investment decision is internal rate of return (IRR) measure, but it has some significant faults both in practice and theoretically. Multiple attempts have been made to resolve the IRR challenges, but none of them are perfect. This article presents the Modified Simple Average Internal Rate of Return criterion as a profitability index for calculating a unique rate of return for all various types of cash flow streams so that obtained results are consistent with the net present value method in accept/reject decisions. The presented method is simple to compute and is capable of resolving all known IRR defects including when the resulting rate is greater than −1. [ABSTRACT FROM AUTHOR]

The research generally aims to conduct an economic analysis and evaluation of agricultural nursery projects for the most important vegetable seedlings in greenhouses. Therefore the returns and costs structure items, the inflow and outflow have been studied. Also the investment efficiency measures for the studied project have been estimated. The research problem is that the recent period in Egypt has witnessed clear fluctuations in the prices of important agricultural commodities such as tomato, pepper, eggplant, cucumber, zucchini, cabbage, cauliflower, and others, Which requires studying one of the inputs of these commodities to determine whether or not nurseries have a role in these fluctuations through an economic evaluation of the outputs and inputs, To achieve its objectives, the research relied on primary field data collected from one of the agricultural nurseries specialized in growing vegetable seedlings inside greenhouses from the Abu Hammad Center in Sharqia Governorate, which consists of 20 greenhouses. through the results of the research it was revealed (1) The average area vegetables subject to the study during the period (2015-2021), which are tomato, pepper, eggplant, cucumber, zucchini, cabbage, and cauliflower, amounted to about 48.8, 23.9, 28.9, 2.8, 9.9., 3.5, 0.3 thousand Feddan, respectively. (2) The average production of the vegetables subject of the study during the period (2015-2021), which are tomato, pepper, eggplant, cucumbers, zucchini, cabbage, and cauliflower, amounted to about 926.2, 208.9, 438.8, 24.9, 91.2, 60.0, 2.6 thousand ton, respectively. (3) Investment, fixed and variable costs amounted to about 2.3 million LE, 330 thousand LE, and 13.37 million LE. (4) The current values during the life of the project for total inflows, investment costs, fixed costs, variable costs, total outflows, and net cash flows amounted to about 315.1, 6.1, 6.6, 267.5, 280.2, 34.9 million LE, respectively, while they amounted to The present value at an 8% discount rate is about 154.6, 3.8, 3.2, 121.6, 128.6, 26.0 million LE, respectively. (5) By studying the efficiency of investment in vegetable seedling nurseries, it was found that the Internal rate of return, the Benefit/Cost ratio, Net present wealth, Capital turnover to about 84%, 1.2 LE, 14.8 million LE, 1.2 year, respectively. (6) The sensitivity analysis explained the most important elements affecting investment efficiency, which is the decrease in the selling price of a tray of imported tomato, eggplant, and pepper seedlings by about 10% on the values of investment efficiency indicators, shows a decrease in the values of the internal rate of return (IRR), net present wealth (NPW), benefit/cost ratio (B/CR) by about 80.7%, 90.9%. 9.4%, respectively, with a deterioration in the capital turnover (CTO) by about 417.1%. The study recommends the necessity of providing highly efficient local seeds like imported ones. [ABSTRACT FROM AUTHOR]

This article presents a dataset of estimates of the private rate of return to schooling from 1970 to 2014. The dataset includes estimates for 142 economies using 853 household surveys. The authors estimate an average private rate of return to schooling of 10%, which can be useful for empirical work and providing critical information for youth. The article emphasizes the importance of education for income growth and poverty reduction and discusses the various social and nonmarket benefits of schooling. The document provides information on estimates of the returns to education from 1970 to 2014, including data on different regions and income groups. It states that the returns to primary education are higher than secondary education, and the returns to tertiary education are the highest. The returns to education are generally higher for females than males, especially at the tertiary level. The document also discusses the relationship between the returns to schooling and changes in technology and demand for skilled workers. The profitability of further educational expansion is still justified. The study found that the level of education has increased more in certain countries compared to the overall database, but the returns to schooling remain high. The demand for education, particularly at the university level, has increased faster than the supply. The study also compares its findings to other estimates of returns to schooling and finds some variations. However, overall, the estimates are consistent and stable. The study acknowledges limitations, such as not including self-employed or informal sector workers, and the potential bias of endogeneity. The results provide valuable information for individuals [Extracted from the article]

Studying investment opportunities and activities in animal production activity in general and red meat production in New Valley Governorate in particular is considered of great importance for many reasons, including the relative importance of the value of animal production, as it represents about 35.4% of the total value of agricultural production. The relative importance of the value of livestock meat, as it contributed about 58.7 billion pounds, representing about 27.8% of the value of animal production. The research aimed to (1) measure investment efficiency indicators for livestock fattening farms (calves and mixed cows) in the New Valley Governorate, according to farm capacity (number of heads). (2) Measuring the impact of potential changes in the most important economic variables for red meat production in New Valley Governorate (high costs, low returns, high costs and low returns together) on the efficiency of investment at the level of farm capacity. The research was based on a field sample of 60 farms for fattening mixed cow calves in New Valley Governorate, which were randomly drawn from the study population. The sample was classified into two categories according to the farm’s capacity, each category having 30 observations. The net present value (NPV), the internal rate of return (IRR), and the return-to-cost ratio (B/C) were calculated at the discount rate, which represents the opportunity cost of investing capital in society, as the most important indicators of investment efficiency for the fattening farms under study. At the level of farm capacity, and according to the mathematical formulation of the discounted measures of the project value, according to the current operating conditions and according to sensitivity analysis. The research reached several results, the most important of which are: (1) Investment efficiency for fattening projects for fattening mixed cow calves in New Valley Governorate under the current operating conditions, where the value of the present net wealth amounted to about 837.12 and 2179.52 thousand pounds for farms of the two categories, small and large capacity, respectively. The internal rate of return also reached About 57% and 72% for small and large capacity farms, respectively. (2) Continuing to achieve investment efficiency for fattening projects for mixed cow calves in the New Valley Governorate, under conditions of risk of rising costs and declining revenues by 10% for each of them separately while holding the other constant, and in light of rising costs and declining revenues by 10% for both of them together at the same time. This indicates the feasibility and safety of investing in this activity. The research ended with a recommendation and implementation mechanisms that may help advance this sector and overcome the problems it faces. [ABSTRACT FROM AUTHOR]

Coupling of biogas upgrading and power‐to‐X is challenging due to the intermittent cheap energy availability. A system was designed that overcomes the technical challenges in this coupling. This is possible by alternating biogas upgrading and methanol synthesis in a reactor operating both as sorption‐enhanced synthesis reactor and as upgrading unit by pressure swing adsorption. It was observed that this concept is feasible in both fixed‐ and fluidized‐bed reactors, and the potential for economic performance improvement was quantified in approximately 20 % increase of the internal rate of return. [ABSTRACT FROM AUTHOR]

Antibiotics are considered one of the most important contributions to clinical medicine in the last century. Due to the use and overuse of these drugs, there have been increasing frequencies of infections with resistant pathogens. One form of resistance, heteroresistance, is particularly problematic; pathogens appear sensitive to a drug by common susceptibility tests. However, upon exposure to the antibiotic, resistance rapidly ascends, and treatment fails. To quantitatively explore the processes contributing to the emergence and ascent of resistance during treatment and the waning of resistance following cessation of treatment, we develop two distinct mathematical and computer-simulation models of heteroresistance. In our analysis of the properties of these models, we consider the factors that determine the response to antibiotic-mediated selection. In one model, heteroresistance is progressive, with each resistant state sequentially generating a higher resistance level. In the other model, heteroresistance is non-progressive, with a susceptible population directly generating populations with different resistance levels. The conditions where resistance will ascend in the progressive model are narrower than those of the non-progressive model. The rates of reversion from the resistant to the sensitive states are critically dependent on the transition rates and the fitness cost of resistance. Our results demonstrate that the standard test used to identify heteroresistance is insufficient. The predictions of our models are consistent with empirical results. Our results demand a reevaluation of the definition and criteria employed to identify heteroresistance. We recommend that the definition of heteroresistance should include a consideration of the rate of return to susceptibility. [ABSTRACT FROM AUTHOR]

The global forest industry is focused on developing waste valorization technologies. Regional resources use in biorefineries could be a strategy to improve profitability and mitigate the environmental impact of the involved industrial sectors, adding a new value chain to the forest industry. This study develops the mass and energy balance for bioethylene and lignin production from industrial pine sawdust (IS), a primary wood processing in Argentina. The proposed production process is composed of: (i) sodaethanol pretreatment to remove the lignin; (ii) simultaneous saccharification and fermentation (SSF) to convert the cellulose to glucose and then to ethanol; (iii) ethanol recovery (95%); (iv) ethanol dehydration to bioethylene and; (v) bioethylene recovery through an ethylene tower and stripper. In the proposed process, 107 kg of bioethylene per ton of dry sawdust could be obtained, recovering 208 kg of lignin. Energy consumption is about 1885 MW h t-1 of dry sawdust. The highest consumption is in pretreatment and ethanol recovery processes, which can be reduced by 42%. Regarding economic assessment, the internal rate of return (IRR) and net present value (NPV) were 10.08% and 5.21 MM USD, respectively. Sensitivity analysis shows that the most influential parameters are lignin and bioethylene market prices and energy and enzyme costs. [ABSTRACT FROM AUTHOR]

Purpose: Cruciate-retaining and posterior-stabilised implant designs are available for primary total knee arthroplasty. However, whether the implant design is associated with a difference in the level of activity still remains unclear. This clinical trial compared posterior-stabilised and cruciate-retaining implants in sport-related patient-reported outcome measures, range of motion, rate of return to sport, and weekly time dedicated to sport in active adults. It was also hypothesised that in young and active patients both implants lead to a similar rate of return to sport in terms of hours per week, type of sport, and joint mobility. Methods: All patients were evaluated preoperatively and for a minimum of 36 months follow-up. The University of California Los Angeles activity scores, High-Activity Arthroplasty Score, and Visual Analogue Scale were administered preoperatively and at the last follow-up. The range of motion was investigated at admission and the last follow-up. Data concerning the hours per week dedicated to sports and the type of sport practiced were also collected at admission and at the last follow-up. The Kaplan–Meier Curve was performed to compare implant survivorship. Results: Data from 227 procedures (cruciate-retaining: 109, posterior-stabilised: 118) were prospectively collected. At the last follow-up, no difference was reported in The University of California Los Angeles activity scores (p = 0.6), High-Activity Arthroplasty Score (p = 0.1), Visual Analogue Scale (p = 0.9), flexion (p = 0.7) and extension (p = 0.4). No difference was found in the rate of return (p = 0.1) and weekly hours dedicated to sport (p = 0.3). The Kaplan–Meier curve evidenced no statistically significant difference in implant survivorship (p = 0.6). Conclusions: At approximately five years of follow-up, no difference was reported between cruciate-retaining and posterior-stabilised implants in active adults in sport-related patient-reported outcomes measures, range of motion, pain, weekly time dedicated to sport, rate of return to sport, and implant survivorship. Level of evidence: Level II, prospective study. [ABSTRACT FROM AUTHOR]

Purpose: Femoroacetabular impingement syndrome (FAIS) is a known cause of impaired sports performance in athletes and the relationship between FAIS and soccer players has previously been described. Hip arthroscopy is a viable treatment option that can facilitate athletes' return to sport (RTS). The aim of this study was to evaluate the RTS and return to performance (RTP) with objective measurements in high-level soccer players after hip arthroscopy for FAIS. Method: Soccer players, with a hip sports activity scale (HSAS) level of 7 or 8 before symptom onset and undergoing hip arthroscopy for FAIS between 2011 and 2019 were identified in the Gothenburg hip arthroscopic registry. A total of 83 high-level soccer players, with a mean age of 23.9 (SD 4.4) years at surgery, were included. To verify the activity level and further stratify players as elite or sub-elite, player statistics were collected from soccer-specific scout webpages and the Swedish national soccer association. The return to sport was defined as return to one game of soccer. Return to performance was defined as playing at the same level, or higher, and participating in at least 80% of the number of games played the season before symptom onset or the season before surgery either the first or second season after hip arthroscopy. Results: In total, 71 (85.5%, 95% confidence interval (CI) 76.1–92.3%) of the players returned to sport the first or second season after surgery. Compared to the season before symptom onset, 31 (37.3%, 95% CI 27.0–48.7%) players returned to performance the first or second season after surgery, and 32 (38.6%, 95% CI 28.1–49.9%) players returned to performance the first or second season after surgery compared to the season before surgery. Conclusion: A high rate of elite and sub-elite soccer players return to soccer after hip arthroscopy for FAIS. However, less than half of the players RTP when evaluating performance through level of play and number of games played. Level of evidence: Level IV. [ABSTRACT FROM AUTHOR]

This study presents a hybrid multicriteria decision-making approach for evaluating stocks in the Saudi Stock Market. The objective is to provide investors and stakeholders with a robust evaluation methodology to inform their investment decisions. With a market value of USD 2.89 trillion dollars in September 2022, the Saudi Stock Market is of significant importance for the country's economy. However, navigating the complexities of stock market performance poses investment challenges. This study employs the best–worst method and the technique for order preference by similarity to identify an ideal solution to address these challenges. Utilizing data from the Saudi Stock Market (Tadawul), this study evaluates stock performance based on financial criteria, including return on equity, return on assets, net profit margin, and asset turnover. The findings reveal valuable insights, particularly in the banking sector, which exhibited the highest net profit margin ratios among sectors. The hybrid multicriteria decision-making-based approach enhances investment decisions. This research provides a foundation for future investigations, facilitating a deeper exploration and analysis of additional aspects of the Saudi Stock Market's performance. The developed methodology and findings have implications for investors and stakeholders, aiding their investment decisions and maximizing returns. [ABSTRACT FROM AUTHOR]

Purpose - Today, due to the breadth, diversity and multiplicity of investment projects, decision makers and investors are faced with the issue of choosing the most profitable project. The economic rate of return (ERR) index is one of the proper indices that has been presented to determine the profitability of the projects. However, the ERR index has important shortcomings that have led to serious limitations in its use. In this regard, this paper introduces a new measure called the reliable economic rate of return (RERR), which has originated from ERR measure, but it has resolved the drawbacks of ERR index. On the other hand, this paper proposes a new solution by considering the values of the cash flow in terms of fuzzy numbers. After calculating the fuzzy economic rate of return, the profitability potentiality degree of the investment projects can be determined as well as their reliability based on the net present value (NPV) method. Design/methodology/approach - This paper proves that if we equate the initial cash flow of investment projects with the sum of the negative values of the relevant cash flow stream, then the RERR value would be greater than '-1'. In this regard, this paper proposes a solution to modify the initial and final values of the investment cash flow stream, merely without changing middle values. Thereby, the NPV of the modified cash flow does not change. On the other hand, it is sometimes difficult to estimate the values of cash flows as a crisp number, which may lead to a wrong decision in accepting or rejecting projects. For this purpose, this paper considers the values of cash flow stream as fuzzy numbers and describes a solution for calculating the fuzzy RERR using the α-cut method and the RERR index. The proposed solution is compatible with the NPV method and also has fewer calculations than the other methods. This paper also proposes a method that calculates the profitability potentiality degree of projects and provides more comprehensive information to the decision makers by examining the intervals obtained from cutting the fuzzy values of the projects and presenting a new and reliable solution. Findings - Using the @RISK software, it was found that the estimation of fuzzy return rate using RERR index and α-cut method is very close to the simulation result. It confirms the appropriate accuracy of the proposed solution. Also, the results obtained from the software in determining the profitability of projects indicated that the proposed solution is more accurate than the methods of 'comparison of the expected intervals' and 'strict exceedance possibility'. It is also fully compatible with the NPV method. Research limitations/implications - In this research the market rate is assumed constant, while, in practice it can vary over the periods. Defining the market rate as an inconstant parameter, using the robust optimization approach and investigating the subject of this paper under other uncertainty environments are future study suggestions to both researchers and practitioners. Practical implications - One of the most important applications of this study is in risky projects wherein estimating the values of cash flow stream as a crisp number is difficult. The results of this paper help decision makers in reducing risk and determining the project profitability. It is worth mentioning that the solution proposed in this paper can be used for all projects with any cash flow stream value. Social implications - Failure to make the correct decision regarding the acceptance or rejection of the projects could have major negative consequences for the companies, organizations and even society. This paper helps decision makers, investors and organizations to determine the projects profitability that could benefit organizations and society. Originality/value - This paper proposes the RERR measure as a profitability index such with several favorable properties: (ⅰ) it exists and is unique, (ⅱ) it is NPV-consistent in accepting/rejecting decisions, (ⅲ) it provides values greater than '-1', (ⅳ) it takes into account all of the project's outflows which may be regarded by some practitioners as an appropriate indicator of the overall investment. Furthermore, this paper proposes an appropriate method for calculating the fuzzy RERR and a new method for determining the profitability potentiality degree of the investment projects based on the NPV method. [ABSTRACT FROM AUTHOR]

Background: The purpose of this study was to systematically review the rate and timing of return to play in overhead athletes following operative management of anterior shoulder instability. Methods: A systematic literature search based on PRISMA guidelines, utilizing the EMBASE, MEDLINE, and The Cochrane Library Databases. Eligible for inclusion were clinical studies reporting on return to play among overhead athletes following arthroscopic Bankart repair, open Latarjet procedure or Remplissage procedure. Results: There are 23 studies included with 961 patients. Among those undergoing arthroscopic Bankart repair, the rate of return to play was 86.2%, with 70.6% returning to the same level of play and the mean time to return to play was 7.1 months. Among those undergoing an open Latarjet procedure, the rate of return to play was 80.9%, with 77.7% returning to the same level of play and the mean time to return to play was 5.1 months. Among those undergoing a Remplissage procedure, the rate of return to play was 70.6%, with 70.0% returning to the same level of play or mean time to return to play. Discussion: Overall, there were high rates of return to play following operative management of anterior shoulder instability in overhead athletes. [ABSTRACT FROM AUTHOR]

Background: Traumatic anterior shoulder instability affects athletes at a higher rate compared with the general population. In recent years, indications for arthroscopic remplissage, an adjunct procedure classically used to reduce the recurrence of anterior shoulder instability in patients with off-track Hill-Sachs lesions, have expanded. Purpose: To investigate return-to-sport (RTS) rates, functional outcomes, and adverse events in athletes who underwent arthroscopic Bankart repair with remplissage compared with surgical alternatives such as Bankart repair alone or the Latarjet procedure. Study Design: Systematic review and meta-analysis; Level of evidence, 4. Methods: A literature review of the Embase, PubMed (MEDLINE), and Web of Science databases was conducted for articles published before May 22, 2022. For the systematic review, 16 of 457 studies that reported RTS rates at any time point after remplissage were deemed eligible for inclusion in quantitative analysis and 17 of 457 studies in qualitative analysis. For the meta-analysis, 8 of 457 studies reported RTS rates after remplissage compared with surgical alternatives including Bankart repair alone or the Latarjet procedure and were deemed eligible for inclusion. Results: In total, 538 athletes underwent remplissage and were included in the study. RTS at any level was achieved by 86% (395/457) of patients, and the odds of RTS at any level were significantly higher after remplissage compared with surgical alternatives (odds ratio [OR], 2.71 [95% CI, 1.14-6.43]; P =.02). The odds of RTS at a previous or higher level were also significantly higher after remplissage compared with surgical alternatives (OR, 2.07 [95% CI, 1.29-3.31]; P =.002). The mean Rowe score increased significantly from 43.9 ± 7.77 preoperatively (n = 173) to 92.2 ± 4.02 after remplissage (n = 397) (P <.001), but there was no significant difference in Rowe scores between remplissage and surgical alternatives (P =.54). After remplissage, the recurrence rate was 5.0% for athletes (n = 220) and 7.3% for all patients (n = 634), with a mean time to recurrence of 24.0 ± 12.5 months. Reoperations occurred in 3.6% of athletes (n = 110) and 4.1% of all patients (n = 445). Recurrence and reoperations were significantly less likely after remplissage compared with surgical alternatives (OR, 0.18 [95% CI, 0.08-0.39]; P <.001 and OR, 0.17 [95% CI, 0.06-0.50]; P =.001, respectively). Conclusion: Arthroscopic Bankart repair with remplissage augmentation significantly improved RTS rates among athletes, both at any level and at previous levels of play. Additionally, remplissage appeared to significantly decrease recurrence and reoperation rates compared with surgical alternatives such as Bankart repair alone or the Latarjet procedure. [ABSTRACT FROM AUTHOR]

Volatility modeling is crucial in finance, especially when dealing with intraday transaction‐level asset returns. The irregular and high‐frequency nature of the data presents unique challenges. While stochastic volatility (SV) models are widely used for understanding patterns in volatility of daily stock returns which constitute regularly spaced time series, new classes of models must be introduced for analyzing volatility in irregularly spaced intraday data. Specifically these models must accommodate the random gaps between successive transactional events. By modeling the gaps using autoregressive conditional duration (ACD) models, we describe a hierarchical irregular SV autoregressive conditional duration (IR‐SV‐ACD) model for estimating and forecasting intertransaction gaps and the volatility of log‐returns. We carry out the analysis in the Bayesian framework via the Hamiltonian Monte Carlo (HMC) algorithm with No‐U‐turn sampler (NUTS) in R using the cmdstanr package. The fits and forecasts are obtained using Monte Carlo averages based on the posterior samples. We illustrate this approach using simulation studies and real data analysis for intraday prices available at microseconds level of health stocks traded on the New York Stock Exchange (NYSE). The log‐returns and gaps are calculated for the stocks and are used for modeling. [ABSTRACT FROM AUTHOR]

This study assesses the effect of USD-Rand exchange rate volatility on South African sectoral stock returns between 29 March 1996 and 28 July 2022. Using the quantile-on-quantile regression (QQR) technique, we uncover that, although each of the sectors exhibit important idiosyncrasies, there exists a single overarching relationship between exchange rate volatility and stock returns that persists across all sectors. We find that low levels of volatility in the exchange rate have a negative impact on stock returns. Conversely, high levels of exchange rate volatility have a positive impact on stock returns. The most important implication of the findings of this study is that investors should have a keen awareness of movements in both the exchange rate and stock markets. [ABSTRACT FROM AUTHOR]

Investment decisions in personal financial management especially for students is crucial because investment is a process of learning to manage finances, starting now and in the future. Low knowledge about planning an often makes students experience fraud, because offers from investment returns are also very tempting. Based on the phenomenon, this study aims to determine the effect of financial technology, investment literacy, investment interest, and return investment tolerance on investment decisions. This research was conducted by distributing questionnaires to respondents with the criteria of students at the University of Sidoarjo city in study program, economy &; business class. The number of research respondents was 288 students and data management used SmartPLS 3.2.8 analysis techniques. The results of this study state that financial technology, investment literacy, investment interest has a positive and significant effect on investment decisions, while return investment have a insignificant effect on investment decisions of University student University of Sidoarjo city in study program economy & business. [ABSTRACT FROM AUTHOR]

In this paper, we developed an approach for the empirical testing of the relationship between the financing choices of companies and the abnormal returns obtained by their shareholders. We innovate by incorporating controls on how this relationship is affected by the capabilities of each funding source, at different levels of returns, through quantile regression. The estimation of the model for a sample of Brazilian companies indicates the inexistence of a significant relationship between abnormal returns and debt issuance. The same occurs between abnormal returns and equity issuance, with one exception: when there is a deficit of internal financing that extrapolates the available safe debt and the abnormal returns are, at least, median, this relationship becomes significant and positive. Considered as a whole, the results suggest an indifference to the sources of funds used by the company. Among the contributions, we highlight the incorporation of the aforementioned controls, which bridges the gap identified in the literature relating business financial flows and stock returns. [ABSTRACT FROM AUTHOR]

This study analyze the factors that affect stock returns in food and beverages companies listed on the Indonesia Stock Exchange (IDX) for the 2017-2020 period. The variables in this study are Economic Value Added (EVA) and Market Value Added (MVA). This research was conducted using multiple linear regression analysis. The data collection tools used are literature study and documentation with purposive sampling method. The sample used in this study were 12 companies from a total population of 30 companies. The results of this study indicate that the higher or lower the value of Economic Value Added (EVA) does not affect the value of Stock Return, as well as the higher or lower value of the Market Value Added (MVA) also does not affect the Stock Return. [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]

The objective of the study is to explore the relationship between country governance practices along with political stability and Economic policy uncertainty, and stock market performance of two different economies, Pakistan and Kurdistan region of Iraq. To meet our objectives, we used the 25 years past data from 1996 to 2021. Data is collected from the DataStream database. The regression analysis is used as the method of estimation for linear and moderation effect. Our results show that regulatory quality, rules of law and political stability has significant positive relationship with stock market performance of Pakistan, but all the governance indicators have significant positive relationship with stock market performance of the Kurdistan Region of Iraq. Moreover, political stability has significant moderating impact between the governance practices and the performance of the stock markets of both economies indicating that the governance practices perform well with the political stability that leads to rise in the stock market indices of selected countries. Economic policy uncertainty has significant negative moderation impact due to creating the risk in both economies that decrease the performance of the stock markets of the selected economies. Finally, our study advocated some implications for the investors to increase their confidence on the stock of high political stability and low economic policy uncertainty economies. Government can take significant measures to control the uncertainty of the policy and portfolio managers can adjust their risk on the ground of the political stability and efficient governance practices countries. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic has emerged as a significant event of the current century, introducing substantial transformations in economic and social activities worldwide. The primary objective of this study is to investigate the relationship between daily COVID-19 cases and Pakistan stock market (PSX) return volatility. To assess the relationship between daily COVID-19 cases and the PSX return volatility, we collected secondary data from the World Health Organization (WHO) and the PSX website, specifically focusing on the PSX 100 index, spanning from March 15, 2020, to March 31, 2021. We used the GARCH family models for measuring the volatility and the COVID-19 impact on the stock market performance. Our E-GARCH findings show that there is long-term persistence in the return volatility of the stock market of Pakistan in the period of the COVID-19 timeline because ARCH alpha (ω1) and GARCH beta (ω2) are significant. Moreover, is asymmetrical effect is found in the stock market of Pakistan during the COVID-19 period due to Gamma (ѱ) being significant for PSX. Our DCC-GARCH results show that the COVID-19 active cases have a long-term spillover impact on the Pakistan stock market. Therefore, the need of strong planning and alternative platform should be needed in the distress period to promote the stock market and investor should advised to make diversified international portfolio by investing in high and low volatility stock market to save their income. This study advocated the implications for investors to invest in low volatility stock especially during the period of pandemics to protect their return on investment. Moreover, policy makers and the regulators can make effective policies to maintain financial stability during pandemics that is very important for the country's economic development. [ABSTRACT FROM AUTHOR]

The purpose of this study is to examine how Dividend Income, Capital Structure, and Exchange Rate affect Stock Market Performance. The sample consisted of 12 companies trading on the Indonesia Stock Exchange (IDX) selected using the Purposive Sampling method, resulting in 63 observations for each variable. Data from audited financial statements, tax reports, and stock market prices are published by Bursa Indonesia (IDX). Data analysis was performed using regression analysis techniques. The results of this study show that the Exchange Rate, Dividend Payout Ratio (DPR), and Debt to Equity ratio (DER) all have a significant impact on stock prices. Individually, the Exchange Rate and DER have significant effects, with the Exchange Rate having a negative effect and DER having a positive effect, but the DPR having no significant effect. The coefficient of determination shows that 10.8% of the stock price variation can be explained by the three variables studied, while 89.2% can be explained by other factors not included in the study. [ABSTRACT FROM AUTHOR]

Purpose: This paper has analysed the impact of cultural dimensions, investor sentiment and uncertainty on bank stock returns. Also, the study examined the influences of the interaction between cultural dimensions and individual (private) sentiment (investor sentiment). Design/methodology/approach: To meet the study's objectives, a two-step generalised method of moments estimator was applied to the study sample, which included 105 banks in the nine Middle East and North African region countries between 2010 and 2020. Findings: The cultural dimensions of individualism and masculinity were found to have a positive and significant effect on banks' buy and hold stock return (BUH). At the same time, power distance and uncertainty avoidance were discovered to have negative effects. Besides, the findings revealed that the interactions of power distance, individual sentiment and uncertainty avoidance had positive and significant relationships with banks' BUH. However, individualism, individual sentiment and masculinity had inverse relationships with banks' BUH. Furthermore, the findings revealed that investor sentiment positively influenced banks' BUH. Finally, uncertainty influenced banks' BUH stock returns positively. Research limitations/implications: Important implications for participants in the financial sector and governments may be learnt from this study's conclusions. Due to cultural biases, this study's findings suggested that investors overreact in the stock market. Originality/value: Additionally, this research comprises one of the few studies that have overviewed the link between classical and behavioural finance in MENA countries with distinctive cultural characteristics. [ABSTRACT FROM AUTHOR]

This study addresses the challenge of estimating high-dimensional covariance matrices in financial markets, where traditional sparsity assumptions often fail due to the interdependence of stock returns across sectors. We present an innovative element-aggregation method that aggregates matrix entries to estimate covariance matrices. This method is designed to be applicable to both sparse and non-sparse matrices, transcending the limitations of sparsity-based approaches. The computational simplicity of the method's implementation ensures low complexity, making it a practical tool for real-world applications. Theoretical analysis then confirms the method's consistency and effectiveness with its convergence rate in specific scenarios. Additionally, numerical experiments validate the method's superior algorithmic performance compared to conventional methods, as well as the reduction in relative estimation errors. Furthermore, empirical studies in financial portfolio optimization demonstrate the method's significant risk management benefits, particularly its ability to effectively mitigate portfolio risk even with limited sample sizes. [ABSTRACT FROM AUTHOR]

Cloud providers offer various purchasing options to enable users to tailor their costs according to their specific requirements, including on-demand, reserved instances, and spot instances. On-demand and spot instances satisfy short-term workloads, whereas reserved instances fulfill long-term instances. However, there are workloads that fall outside of either long-term or short-term categories. Consequently, there is a notable absence of services specifically tailored for medium-term workloads. On-demand services, while offering flexibility, often come with high costs. Spot instances, though cost-effective, carry the risk of termination. Reserved instances, while stable and less expensive, may have a remaining period that extends beyond the duration of users' tasks. This gap underscores the need for solutions that address the unique requirements and challenges associated with medium-term workloads in the cloud computing landscape. This paper introduces a new cloud broker that introduces IaaS services for medium-term workloads. On one hand, this broker strategically reserves resources from providers, and on the other hand, it interacts with users. Its interaction with users is twofold. It collects users' preferences regarding commitment term for medium-term workloads and then transforms the leased resources based on commitment term, aligning with the requirements of most users. To ensure profitability, the broker sells these services utilizing an auction algorithm. Hence, in this paper, an auction algorithm is introduced and developed, which treats cloud services as virtual assets and integrates the depreciation over time. The findings affirm the lack of services that fulfill medium workloads while ensuring the financial viabilty and profitability of the broker, given that the estimated return on investment (ROI) is acceptable. [ABSTRACT FROM AUTHOR]

Organic aquaculture is a new approach in the modern farming system. As the capital investment is higher for setting up the organic aquaculture, it is essential to conduct an economic feasibility study with compare the conventional farming system. In the current study, economic feasibility of culturing Indian major carps (IMC) using conventional culture system and organic culture system (OCS) were evaluated. IMC was cultured for three consecutive years from 2017 to 2019 in experimental ponds of 0.015 hectare (ha) area each. The crude protein content of the organic and conventional feed was maintained at the same iso-nitrogenous level (32% crude protein) but the highest production to the tune of 19 tons per ha was obtained in OCS. Further, in case of OCS, apart from fish production, vermicomposting to the tune of 45,000 kg ha−1 in the first year, and 90,000 kg ha−1 from second year onward is achievable by installing a vermicomposting unit of 200 tons annual capacity. Economic analysis of the culture systems assuming a project period of 10 years showed that the highest net present value (NPV) of 1.06 million USD, a payback period of one year and nine months and an internal rate of return (IRR) of 51% are achievable per ha of fish culture pond for OCS. Sensitivity analysis of various costs performed for OCS revealed that profitability of the organic fish farming investment is most sensitive to the total fish production and sale price of the organic fishes. In terms of production of fish and economics of organic culture system is proved to be the best available technique. [ABSTRACT FROM AUTHOR]

Purpose: To investigate the rate of return to sports and sport psychological readiness between patients who underwent isolated MPFLR (iMPFLR) compared to a matched cohort of patients who underwent MPFLR with anteromedializing tibial tubercle osteotomy (MPFLR/TTO). Methods: Patients who underwent primary MPFLR with or without TTO for recurrent patellar instability were retrospectively reviewed from 2012 to 2020 at a single institution. Preinjury sport and work information, Kujala, Tegner, Visual Analogue Score for pain, satisfaction and MPFL‐Return to Sport after Injury (MPFL‐RSI) score were collected. Two readers independently measured the tibial tuberosity‐trochlear groove distance, Caton–Deschamps index and Dejour classification for trochlear dysplasia. Patients in iMPFLR and MPFLR/TTO groups were matched 1:1 on age, sex, body mass index and follow‐up length. Multivariate regression analysis was performed to determine whether the MPFL‐RSI was associated with a return to sport. Results: This study included 74 patients at mean follow‐up of 52.5 months (range: 24–117). These groups returned to sport at similar rates (iMPFLR: 67.6%, MPFLR/TTO: 73.0%, not significant [ns]), though iMPFLR patients returned more quickly (8.4 vs. 12.8 months, p = 0.019). Rates of return to preinjury sport level were also similar (45.9% vs. 40.5%, ns). Patients with Dejour B/C took more time to return to sport compared to patients with mild/no trochlear pathology (13.8 vs. 7.9 months, p = 0.003). Increasing MPFL‐RSI score was significantly predictive of the overall return to sport (odds ratio [OR]: 1.08, 95% confidence interval [CI] [1.03, 1.13], p < 0.001) and return to preinjury level (OR: 1.07, 95% CI [1.04, 1.13], p < 0.001). Most patients in iMPFLR and MPFLR/TTO groups resumed work (95.7% vs. 88.5%, ns), though iMPFLR patients who returned to preinjury work levels did so more quickly (1.7 vs. 4.6 months, p = 0.005). Conclusion: Patients who underwent MPFLR with anteromedializing TTO demonstrated similar rates of return to sport and psychological readiness compared to an isolated MPFLR matched comparison group, though iMPFLRs returned more quickly. Patients with more severe trochlear pathology required more time to return to sports. Level of Evidence: Level III. [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 the case of new investment in RES technology, there are two issues related to efficiency assessment. The first one is how to join technical, financial and economic efficiency assessments in one. An investment feasibility study is usually conducted through a financial analysis to obtain the internal rate of return and the net present value. However, a new RES investment is typically financially unprofitable unless the environmental and social aspects are included. The second one is a lack of required financial data. The new RES investment is often innovative and neither the owner nor other entities have financial data on the operating costs and expenditure for the last periods. Therefore, in this paper, we proposed two methods of efficiency assessment. The first one is based on the avoided costs theory. Furthermore, the second one belongs to heuristic methods and is based on the experts' assessment of different kinds of parameters. The purpose of this study is to assess the efficiency of the pilot project of VPPs using two recommended methods. This paper emphasizes the advantages and disadvantages of each method. The actual technical and financial data for the period of six months from the pilot study were calculated. [ABSTRACT FROM AUTHOR]

Because of the capital intensiveness of gas-to-liquids (GTL) projects, much research has been focused on optimization to reduce the capital and operational cost, increase the efficiency, reduce the size and lower the emission levels associated with GTL technology processes. In this work, an effort to optimize the GTL plant has been proposed through the use of waste heat from produced steam in a typical modular GTL plant. The waste heat from the steam generated was used to simulate electricity production alongside the production of GTL diesel. The GTL plant was retrofitted with a steam turbine unit to handle the concurrent production of GTL fuels and electricity. The integrated GTL system was simulated in Unisim using the Peng-Robinson property package. A total of 220 MMscfd of medium pressure steam were produced from the synthesis gas and Fischer-Tropsch units. The integrated GTL plant produced 2534 b/d of GTL diesel and gasoline together with 4 MW of electricity. The economics analyses results show that the GTL liquids product alone yielded an NPV of US$231.8 million, with a payout time and internal rate of return (IRR) of 4.5 yrs and 22% respectively without the inclusion of an electricity generating unit. The integration of an electricity generating unit to the conventional GTL increased the profitability of the GTL project, an NPV of US$240.5 million was realized which translates to a percentage increase of 4%. The payout time and IRR for the GTL-Power coproduction were 3.3yrs and 30.2% respectively. Thus, there was a reduction in payout time of 0.67% and an increase in IRR of 0.91%. The enhanced GTL-Power co-production configuration has the potential to increase the profit realizable from the GTL project and should be considered an investment option. [ABSTRACT FROM AUTHOR]

The paper introduces a semiparametric estimator of the correlations among elliptically distributed random variables invariant to any form of heteroscedasticity, robust to outliers, and asymptotically normal. Our estimator is particularly fit for financial applications as vectors of stock returns are generally well approximated by heteroskedastic processes with elliptical (conditional) distributions and heavy tails. The superiority of our estimator with respect to Pearson's sample correlation in financial applications is illustrated using simulated data and real high-frequency stock returns. Using simple exponentially weighted moving averages, we extend our estimator to the case of time-varying correlations and compare it to the popular GARCH-DCC model. We show that the two approaches have comparable performances through simulations and a simple application. However, our estimator is extremely fast to compute, computationally robust, and straightforward to implement. [ABSTRACT FROM AUTHOR]

The study investigated the relationship and hence impact of foreign capital outflows on stock market performance in Nigeria for the period 1986 to 2021. Specifically, we examined how foreign direct investments outflow (FDIO), foreign portfolio investments outflow (FPIO), foreign remittances outflow (FRO), official development assistance outflow (ODAO), interest rate (INTR) and inflation rate (INFR) affected stock market performances (STMP) in Nigeria. The study employed the autoregressive distributed lags (ARDL) for the analysis of data. The Augmented Dickey fuller (ADF) Unit root tests were used to ascertain the series properties of the variables while the Correlation analysis was conducted to ascertain the degree of relationship between the dependent and independent variables. The results showed that, foreign direct investments outflow (FDIO) and other development assistance outflow (ODAO) have significant negative relationship with stock market performance in Nigeria while foreign portfolio investments outflow (FPIO) and interest rate (INTR) has a weak positive relationship with stock market performance in Nigeria. However, inflation rate (INFR) does not have any significant impact on stock market performance in Nigeria. The study therefore recommends that there is need to improve the investment climate in Nigeria because, one of the major factors that promotes foreign capital outflow is the risky investment climate. This can be done by formulating deliberate investment policies to strengthen the productivity of the monetary system especially the financial market which main goal is to move funds from the surplus unit of the economy to its deficit unit. Also, policies that will discourage capital outflow in the form of remittances outflow, such as capping the repatriation of a proportion of domestic earnings to reduce financial constraints, strengthen investment domestically as well as increase tax revenue, should be vigorously pursued by policy makers and the government. [ABSTRACT FROM AUTHOR]

Prior research hasn't provided convincing empirical support for two crucial issues: how investor sentiment can be measured, and can it be used to forecast stock market performance? To bridge this divide, we present a novel empirical technique based on investor sentiment and Bayesian vector autoregressive (BVAR) models to estimate stock returns. Sentiment has always had a substantial impact on the determination of stock prices in US financial markets, even during the subprime crisis. Impulse responses show that a positive shock to investor sentiment pushes equity returns above their equilibrium positions, with the maximum deviation being achieved around two months after the trigger event followed by a return to equilibrium after 6 months. Compared to BVAR models with priors commonly used in the literature, our model enables a very efficient restriction of the coefficients to be estimated without reducing the explanatory power of the model. Moreover, it provides better forecasting of stock returns than other BVAR models beyond 3 months. [ABSTRACT FROM AUTHOR]