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State and federal governments invest millions of dollars in providing accurate and relevant information on expected outcomes to students pursuing higher education, but whether such information targets what students value about college is unclear. We use new survey data to identify the extent to which conventional indicators for college quality and returns correlate with collegegoers' satisfaction with their education. We find that alumni are on average very satisfied with their education, even among those with poor labor market outcomes. Our results suggest the consumptive value of higher education is much higher than economic models of college choices typically assume. [ABSTRACT FROM AUTHOR]

This paper estimates returns to education during a period of sharp wage cuts in Greece, considering both the endogenous nature of education and women's self-selection. Findings suggest that dramatic wage declines were followed by sharp decreases in returns to education, while the documented convergence of returns between genders is an added benefit. Once endogeneity is examined, using parental education and number of siblings in the household as instruments, and self-selection is accounted for, returns to education almost double compared to OLS. These findings are verified using several robustness tests and alternative specifications. [ABSTRACT FROM AUTHOR]

We contribute to the higher education returns discourse by examining perceptions among college graduates. Using 2021 U.S. Survey of Household Economics of Decisionmaking data, we observe that over 80% of degree holders perceive that they received positive financial returns from college, while only 7% of college degree holders regret their decision to go to university. However, 39% regret their major choice, and 24% regret their institution choice. Logistic regression reveals perceptions and regrets vary with field of study, gender, type of institution attended, student debt load, and age. [ABSTRACT FROM AUTHOR]

This study examines the impact of educational attainment on employment and earnings in Nepal. Using the Nepal Labour Force Survey 2017–2018 cycle, we employ an extended earnings function derived from the foundational Mincer equation to estimate returns to education. The results underscore the overall positive impact of education (1.76, 3.73, 7.68 and 11.00% increase in earnings by primary, secondary, bachelor's and master's degrees, respectively), which is lower than the average observed in other low– and middle– income countries, except in higher education. The results also indicate persisting disparities for females and disadvantaged groups. The study emphasizes the need for strategic interventions, improved educational infrastructure and inclusive policies to foster equitable opportunities. [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]

This paper uses the Mincerian approach in an experimental way to examine the impact of education on household incomes (not labor earnings) of all workers (not just employees) across 162 countries. Our results are broadly similar to the conventionally estimated rates of return to education after allowing for the fact that earnings are only a part of total household incomes. We then apply the results to the case of Arab countries and find that our experimental approach can promisingly be used for the study of the impact of education not just on individual earnings of employees but also on total household incomes of all workers and more broadly on the economy and the labor market. [ABSTRACT FROM AUTHOR]

Hotel managers in New Zealand do not calculate Human Capital Return on Investment (HCROI) and are unaware if they are over or underinvesting in their HC. While literature reports the complexity of such measurement, given the challenges of attracting, retaining and ongoing training of HC, it is surprising little has been done to examine how HCROI can add value to hotels and how it can be calculated. Hotel practitioners and hospitality researchers must collaborate to examine and define better HCROI and measurement tools to enable hotel managers to make more strategic HC decisions. [ABSTRACT FROM AUTHOR]

The present study conceptualizes and simulates a methanol production process through the direct hydrogenation of captured CO2. CuO/ZnO/ZrO2 was employed as the catalyst and Aspen HYSYS was used for the process simulation. Configurational optimization of the process flowsheet was carried out using a step-by-step hierarchical approach. Many alternate flowsheets have resulted, and their capital investment, product cost, and profitability measures were calculated. The discrimination among the competing flowsheets was carried out based on net profit and percent return on investment. The retained flowsheet was further analyzed for optimizing the recycle ratio and evaluating the effect of the price of captured CO2, green H2, natural gas (fuel), and catalyst on the economic performance of the plant. The optimum value of the recycle ratio was computed to be 4.23. Additionally, it was found that the price of H2 is the most important parameter in defining the feasibility and profitability of the process. Mathematical correlations were also developed that relate the profitability and price of the above-mentioned feed materials. [ABSTRACT FROM AUTHOR]

Hedge fund managers' risk-taking choices are influenced by their compensation structure. We differ from most studies that focus on incentive fees and the high-water mark by examining how management fees affect managers' risk-taking. Our simple model shows that managers' risk-taking is negatively related to their future management fees. Using fund-level data, we find that future management fees are the dominant component of managers' total compensation. When the contribution of future management fees increases, managers reduce risk-taking to increase survival probabilities. Moreover, funds with higher decreasing returns to scale are more sensitive to future management fees and reduce risk-taking even more. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

We estimate unsmoothed private equity net asset values (NAVs) at weekly frequency for individual funds. Using simulations and large samples of buyout and venture funds, we show that our method yields superior estimates of NAVs relative to simple approaches based on extrapolation of reported NAVs. The market beta of an average buyout (venture) fund is around 1.0 (1.4), and the total risk is 33 |$\%$| (40 |$\%$|⁠) per year. The risk-return profile of the funds varies significantly over time and across funds. Risk-taking and reporting quality appear to persist by manager. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

We find evidence of selective exposure to confirmatory information among 400,000 users on the investor social network StockTwits. Self-described bulls are five times more likely to follow a user with a bullish view of the same stock than are self-described bears. Consequently, bulls see 62 more bullish messages and 24 fewer bearish messages than bears do over the same 50-day period. These "echo chambers" exist even among professional investors and are strongest for investors who trade on their beliefs. Finally, beliefs formed in echo chambers are associated with lower ex post returns, more siloing of information, and more trading volume. [ABSTRACT FROM AUTHOR]

Oil refineries have become increasingly more efficient over time. Therefore, huge efforts are being made to invest in better processes and technologies that save energy and maximize the production of high-value products, particularly, gasoline. In this study, two scenarios are proposed to upgrade the Sarir Oil Refinery for increasing its capacity from 10,000 BPD to 120,000 BPD by adding new units of vacuum distillation and Delayed Coking or Fluid Catalytic Cracking (FCC) unit. The production rates of all units are obtained through material balance calculations. Finally, an economical evaluation is carried out to determine if the proposed projects meet the profitability criteria of the refinery and to decide which refinery scenario is techno-economically feasible and maximizes the production of gasoline more than the other. The observational results revealed that the best refinery scenario is the one that uses atmospheric distillation and FCC units as it has less payout time (3.6 years), higher internal rate of return (110%) and higher production of gasoline.

In an increasingly uncertain world, with internal risks and external social, economic and geopolitical threats to organizational development and automation looming overhead, CSOs have been adopting strategies to be prepared [...]

Citizen-driven approaches are promising to overcome the challenges in the energy transition of geographical islands. However, the economic profitability of related activities must be ensured to achieve the intrinsic and sustainable uptake of related solutions in an island's communities. Here, we investigate the long-term (2020–2054) economic profitability of solar-based prosumption on islands belonging to the European Union (EU), soft-linking energy system modelling and actor-related cash-flow analysis. This combination considerably extends common assessments of the profitability of renewable energy technology and long-term projections of island energy systems. We base our case study on the French overseas territory of Mayotte, discussing household affordability and the socio-economic impact of prosumerism. These topics are relevant to transferability on non-EU islands. The profitability of investments in PV depends on (i) the size of the PV system, with larger systems (>9 kWp) profiting from lower specific investment costs compared to smaller systems; (ii) the time of investment, with more profitable investments to be expected in early periods; (iii) the level of decarbonization of the entire energy sector, with an ongoing decarbonization reducing the compensation or energy-saving possibilities; and (iv) the market behavior, with the practice of feeding in all electricity produced rather than self-consuming energy offering a higher expected return on investment under current feed-in-tariff (FiT) compensation schemes. We introduce various policy measures to improve solar rooftop PV profitability and discuss their trade-offs and effectiveness. While indirect subsidies via FiT are generally effective in improving PV profitability, they undermine efforts to incentivize decentralized self-consumption. From the perspective of harmonizing efforts in the energy transition of African and European islands, we recommend a careful evaluation of the trade-offs in relevant regulations required for the economic incentivization of prosumers to achieve compatibility with the principles of a citizen-driven and just energy transition. Particular attention must be paid to context-specific socio-economic characteristics, including low access to financial resources and non-financial access barriers, including legal status. [ABSTRACT FROM AUTHOR]

Background: Patellar tendinopathy (PT) involves anterior knee pain and functional. Platelet-rich fibrin matrix (PRFM) is a promising biological therapy for tendinopathies. We examined a cohort of PT patients treated with tendon debridement and autologous PRFM at the 24-month follow-up to assess whether the combined treatment facilitated return to sports and yielded satisfactory clinical and functional scores. Methods: Baseline and 24-month visual analogue scale (VAS), Victorian Institute of Sport Assessment Scale for Patellar Tendinopathy (VISA-P), Tegner Activity Scale (TAS), and Blazina scores were compared to evaluate treatment effectiveness. The Friedman test was used to compare repeated observations of VAS, VISA-P, TAS, and Blazina Score values. Return to sport rate, Tampa Scale of Kinesiophobia (TKS) score and patient satisfaction were collected at 24 months. Results: The postoperative clinical scores demonstrated significant improvement compared with their preoperative values (all p < 0.001). Specifically, the VISA-P score was 80.32 (±20.58), 92.10% of patients had resumed sports activities and patient satisfaction was 9.21 (±1.21) at 24 months. Conclusions: Surgical debridement and autologous PRFM application in patients with chronic PT resulted in a higher rate of return to sports when compared to solely surgical treatment, significantly improved clinical outcomes and excellent patient satisfaction at 24 months. [ABSTRACT FROM AUTHOR]

The Energy Return On Investment (EROI) is a recognised indicator for assessing the relevance of an energy project in terms of net energy delivered to society. For woody biomass divergences remain on the right methodology to assess the EROI leading to large variations in the published estimates. This article presents an in‐depth discussion about the EROI of woody biomass in three different forms: woodchips, pellets and liquid fuels. The conceptualisation of EROI is further developed to reach a consistent definition for biomass post‐processed fuels. It considers, on top of the external energy investments, the grey energy associated with the energy used to enrich the fuel. With the proposed methodology, all woodchips have an EROI of the same order of magnitude, between 20 and 37, depending on forestry types, operations and machineries. For secondary residues, the first estimate is 170 if, as co‐products, no energy investment is allocated to the forestry operations and transport. On the basis of a mass allocation for forestry operations and transport, the EROI for secondary residues becomes of the same order of magnitude as that for wood chips. Woodchips can be further post‐processed into pellets or liquid fuels. Pellets have an EROI of 4–7 if the heat is externally supplied and 8–23 if internally supplied (self‐consumption of part of the raw material). Liquid fuels derived from primary wood and residues through gasification and Fischer‐Tropsch synthesis have an EROI between 4 and 16. Fuel enhancement with hydrogen (Power & Biomass to Liquids) impacts negatively the EROI due to the low EROI of hydrogen produced from renewable electricity. However, these fuels offer other advantages such as improved carbon efficiency. A correct estimate of EROI for forestry biomass, as proposed in this work, is a necessary dimension in assessing the suitability of a project. [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]

The main purpose of this research was to assess how the profitability and liquidity of the company "Central de Cooperativas Mineras Rinconada y Lunar de Oro Limitada" were impacted by COVID-19 between the periods 2018 and 2022. This study is classified as basic and explanatory in nature, and it is non-experimental. For data collection, the documentation technique and observation were used, and the company's Balance Sheet and Income Statement were analyzed. The results indicate that, based on the analysis of profitability through Return on Assets (ROA), in 2019, it showed a negative value (-0.21). In contrast, in 2020, it recorded a value of 78.02. On the other hand, the analysis of Return on Equity (ROE) revealed a value of -0.14 in 2019, while in 2020, a significant value was recorded in the ratios (65.01). Regarding the liquidity of the mining company, the Current Ratio in 2019 was 15.46, and in 2020, it was 0.78. Furthermore, the Quick Ratio values were 15.46 in 2019 and 0.78 in 2020. Conclusions: the mining company experienced a significant decline in liquidity; however, it managed to maintain strong economic and financial profitability. Although a company may be profitable, the lack of liquidity represents a significant risk. [ABSTRACT FROM AUTHOR]

Oil refineries have become increasingly more efficient over time. Therefore, huge efforts are being made to invest in better processes and technologies that save energy and maximize the production of high-value products, particularly, gasoline. In this study, two scenarios are proposed to upgrade the Sarir Oil Refinery for increasing its capacity from 10,000 BPD to 120,000 BPD by adding new units of vacuum distillation and Delayed Coking or Fluid Catalytic Cracking (FCC) unit. The production rates of all units are obtained through material balance calculations. Finally, an economical evaluation is carried out to determine if the proposed projects meet the profitability criteria of the refinery and to decide which refinery scenario is techno-economically feasible and maximizes the production of gasoline more than the other. The observational results revealed that the best refinery scenario is the one that uses atmospheric distillation and FCC units as it has less payout time (3.6 years), higher internal rate of return (110%) and higher production of gasoline. [ABSTRACT FROM AUTHOR]

The valuation of Goodwill (GW) has remained one of the several critical issues in financial analysis. This aspect is particularly important for mergers and acquisitions due to the significance of intangible assets. This study delves into the capitalization method of super profit (CMSP), a prominent technique for GW valuation, enhanced by the integration of statistical tools. Assessing a company's excess profits over its average return on tangible assets is part of the CMSP. Finding the variables that have a significant impact on GW valuation, such as average profit, capital employed, and rate of return, is the main goal of this research. These issues are thoroughly investigated through statistical analysis to give stakeholders useful information for well-informed decision-making. Additionally, the study seeks to identify the external elements influencing this process as well as the internal aspects influencing GW valuation. Regression analysis, correlation matrices, response analysis and ANOVA are used to improve GW assessment and comprehension of the complex relationships between different factors. [ABSTRACT FROM AUTHOR]

Purpose: The aim of the paper is to assess the efficiency of investment portfolios built in the 2017-2022 period, with a particular focus on the COVID-19 pandemic, and to reveal the potential relationship between the real rate of change of dividend payment of the WIG, DAX and S&P500 companies and selected macroeconomic determinants. The analysis will be conducted in the context of the adaptive markets9 hypothesis. Design/methodology/approach: The scientific purpose of the paper is fulfilled by conducting a thorough review of the literature. Empirical data, on the other hand, was studied by quantitative analysis. The authors also employ comparative and descriptive analysis to investigate potential differences between companies listed on selected stock exchanges in terms of dividend payment frequency and rate of change in nominal and real terms. A study of the relationship between the real rate of change of dividends and the macroeconomic determinants of dividend payments was carried out by means of the Fisher equation, Pearson9s linear correlation coefficient and Spearman9s rank correlation coefficient. Findings: The assessment of the efficiency of investment portfolios in the 2017-2022 period revealed that, by choosing strong, trend-following investment portfolios, one could earn high and possibly above-average rates of return. The assumptions of the adaptive markets9 hypothesis appear to be correct in this context. Furthermore, the results of the empirical analyses demonstrate, that most companies listed on the US Stock Exchange paid dividends without interruption. In addition, in the analyzed period, the DAX companies reported the highest average real dividend growth rate. Practical implications: Enhanced knowledge in building and assessing the efficiency of investment portfolios during turbulent periods in the financial markets, in the context of the adaptive market hypothesis. Moreover, knowledge of the similarities and differences between dividend-paying companies listed on different stock exchanges is very important for investors and investment fund boards alike. Consequently, better investment decisions can be made as to where to make efficient capital investments. Social implications: In terms of the social implications of the paper, the most important one seems to be a possible change in attitude of investors towards dividend-paying companies, especially those listed on the international capital market and the acceptance of the adaptive markets9 hypothesis9 assumptions. Originality/value: This paper assesses the efficiency of investment portfolios for the 2017- 2022 period against the appropriateness of considering the adaptive market hypothesis. Another new feature is the comparison of dividend-paying companies9 shares from the perspective of the real rate of change of dividends and the demonstration of the impact of macroeconomic determinants of dividend payments on the inflation-adjusted dividend payment rate of change. [ABSTRACT FROM AUTHOR]

One of the most challenging global problems today is environmental sustainability, which countries and companies, at a micro level, are pressured to address. The study aimed to analyze the financial and non-financial environmental data disclosed in the sustainability reports of selected environmentally sensitive Philippine publicly listed companies (PLCs) relative to the Sustainability Reporting Guidelines of the Securities and Exchange Commission (SEC). Content analysis of PLCs' reports was employed, with both descriptive and inferential statistics applied on the different data sets gathered. The study showed that the release of the SEC memo raised the level of environmental data disclosed by the Subject Companies for the period 2017-2021. Also, results showed a significant, positive association between firm size and reported environmental data, while leverage, return on equity, and the holding sector showed significant, negative relationships. The study is expected to add to the currently sparse written works on the environmental reporting in the Philippines, and also in other countries. [ABSTRACT FROM AUTHOR]

Copyright of Financing is the property of Financing and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The value of the firm depends upon its expected Financial Forecasting. The rate used to discount earnings stream it's the firm's required rate of return or the cost of capital. Thus, the capital structure and Financial Forecasting decision can affect the value of the firm either by changing the expected earnings of the firm, but it can affect the reside earnings of the shareholders. The effect of leverage on the cost of capital is not very clear. Conflicting opinions have been expressed on this issue. In fact, this issue is one of the most continuous areas in the theory of finance, and perhaps more theoretical and empirical work has been done on this subject than any other. [ABSTRACT FROM AUTHOR]

Enhancing legal certainty is one of the main values that are sought in the investor–state dispute settlement system. The importance of legal certainty is strengthened in the case of renewable energy investments, which are in the global public interest, long-term and capital-intensive up-front. The first part of the paper presents the importance of legal certainty in investment arbitration in general, its limits and its importance in the context of the green energy transition. In addition, it addresses the special features of renewable energy investments. The second part of the paper analyses from the perspective of legal certainty the Spanish renewable energy cases initiated under the Energy Charter Treaty (ECT), which deal with similar factual and legal issues. In this respect, the paper presents the varying weight tribunals gave to the important facts that led them further to conclude whether Spain breached the fair and equitable treatment standard, and if so, whether the investor was entitled to full compensation or a reasonable rate of return. In addition, it presents different approaches to perceiving the stability provision of Article 10 (1) of the ECT. The paper concludes that it remains uncertain to what extent RE investors will be protected under the ECT's stability condition in the case of fundamental or small-scale changes. Although one group of arbitrators may argue that the fundamental change triggers per se a breach of a stability condition, others may argue that for the breach to be established, the host state's measures must be arbitrary, unreasonable or discriminatory. Moreover, the threat to legal certainty might not only be the vague provisions of the ECT but also the significant discretion tribunals have towards the interpretation of facts, leading to different outcomes. Indeed, it is at the discretion of arbitrators to consider whether the timing of investment, presence of evidence indicating possible regulatory changes, and the reasonable rate of return prescribed in Spain's domestic law will be relevant or irrelevant. [ABSTRACT FROM AUTHOR]

It is commonly accepted that the success and expansion of insurance companies' underwriting operations, which is indicated by the premiums received from insurance policies, is reflected in their profitability rates. During the period of 2010 to 2021, Iraqi insurance companies in the private sector that are listed on the Iraq Stock Exchange experienced a fluctuation in the increase and noticeable decrease of gross written premiums, which had a negative impact on their profitability ratios. The aim of this investigation is to analyze the underwriting activities carried out by all insurance companies that are publicly listed on the Iraq Stock Exchange spanning from 2010 to 2021, and assess the impact of these activities on the companies' profitability rates. To evaluate the profitability of these firms, three indicators are used, namely the rate of return on assets, return on equity, and profit margin ratio. The study employs Data Panel models using Eviews 12 to identify the research samples during the study period. Additionally, the pooled regression model is used to compare the findings and test the hypotheses of the study. In a structured manner, data is collected from the annual reports released by the Iraq Stock Exchange. The statistical examination of the findings reveals that the gross written premium has a significant and positive influence on all of the profitability ratios that were evaluated in this study, namely the rate of return on assets, return on equity, and profit margin ratio. [ABSTRACT FROM AUTHOR]

We propose a novel factor model for option returns. Option exposures are estimated nonparametrically, and factor risk premia can vary nonlinearly with states. The model is estimated using regressions with minimal assumptions on factor and option return dynamics. We estimate the model using index options to characterize the conditional risk premia for factors of interest, such as the market return, market variance, tail and intermediary risk factors, higher moments, and the VIX term structure slope. Together, market return and variance explain more than 90% of option return variation. Unconditionally, the magnitude of the variance risk premium is plausible. It displays pronounced time variation, spikes during crises, and always has the expected sign. [ABSTRACT FROM AUTHOR]

The purpose of this study was to examine the key determinants of corporate governance in selected financial institutions. Using South African financial institutions as a unit of analysis, namely insurance companies and banks, the study employed a panel generalised method of moments (GMM) model using a data set for the period from 2007 to 2020, to assess key determinants of corporate governance proxies identified for the study. The study sampled 21 South African financial institutions composed of Johannesburg Securities Exchange (JSE) listed and unlisted banks and insurance companies. To measure corporate governance, the study developed a composite index employing the principal components analysis (PCA) method. The findings revealed a positive and significant association between the corporate governance index and its lagged variables. Furthermore, a significant and positive link was found between the efficiency ratio and corporate governance index and capital adequacy ratio (CAR); corporate governance index and firm size; corporate governance index and leverage ratio (LEV); and corporate governance index and return on assets (ROA). However, a negative and significant correlation was found between financial stability and the corporate governance index. The link between return on equity (ROE) and corporate governance was insignificant. A small cohort of financial institutions was excluded because it was challenging to obtain complete annual reports to extract the required data. The study was limited to only five corporate governance measures, namely board diversity, board size, board composition (independent non-executive directors and non-executive directors), and board remuneration. The findings are anticipated to persuade developing countries to pay special attention to how corporate governance is measured. [ABSTRACT FROM AUTHOR]

In order to evaluate the impact of the amount of material compensation per employee on the performance of the company, the authors systematically analysed amount of material compensation per employee, total income, total expenses, net profit margin and return on equity in small, medium and large companies in the five observed counties of the Republic of Croatia. The aim of the paper is to analyse the connection between the amount of material compensation of employees and the performance of the company. The research in the paper was conducted based on data provided by the Financial Agency, a leading Croatian company in the field of providing financial and electronic services. The research was conducted on a sample of 3,914 small, medium and large companies. In the research part of the paper, Spearman’s correlation coefficient which is a non-parametric equivalent of Pearson’s correlation coefficient (product of rank correlation), was used to assess the relationship between the variables of average monthly net wage and salary per employee, total income, total expenses, net profit margin, return on equity. The results indicate that there are significant differences between the size of the company and the observed parameters (average monthly net wages and salaries per employee, total income, total expenses, net profit margin, and return on equity). Based on an extensive analysis of data, obtained results indicate that the given correlation matrix of the connection between the average monthly net wage and salary per employee with the observed parameters for all years shows that all parameters are statistically significantly correlated. This paper provides an insight into the importance of human resources and their proper management on the company business, regardless of their size. Statistical analysis of research data was performed by statistical software MedCalc® Statistical Software and SPSS Statistics for Windows. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to analyze the impact of the adoption of ISO 14001 and ISO 9001 on the performance of Portuguese companies. The sample includes the companies listed on Euronext Lisbon, with economic, financial and specific information – the specific being environmental information and quality information – for the period between 2015 and 2019, which corresponds to the post-Troika period when some economic growth started to be witnessed. The specific information of each area is translated into the environmental certification by the ISO 14001 standard, the quality certification by the ISO 9001 standard, and sustainability reports. Design/methodology/approach: To achieve this aim, four variables were used as a measure of the companies' performance, Return on Assets (ROA), Return on Equity (ROE); Tobin's Q and EBITDA Margin. With this data, different panel models were tested to validate if ISO 9001 and ISO 14001 certifications impact Portuguese listed companies performance. Specifically, the authors have used the Generalized Method of Moments, GMM-System, an estimation method proposed by Arellano and Bover (1995) and Blundell and Bond (1998). Findings: The results show that, in general, the environment and quality variables fail to explain the dependent variables, that is, ISO certifications do not provide positive or negative variations in the performance of companies, suggesting that they are not yet as much for civil society, as well as for current or potential shareholders. When used as an independent variable, certification according to the ISO 14001 or 9001 standards, negative and significant oscillations were verified in the dependent variable, MgEBITDA, suggesting that only for managers this variable is determinant, but with a negative impact, given the high costs, it entails without pressure from other stakeholders. Originality/value: This study is the first to analyze the impact of the adoption of ISO 14001 and ISO 9001 on Portuguese companies' performance. This empirical study aims to show all investors, managers, regulators and civil society itself the long path that still needs to be taken toward sustainability. [ABSTRACT FROM AUTHOR]

We investigate the impact of a conventional corporate taxation system on an investment project's profitability and risk and on a firm's risk diversification capability. We use the Canadian corporate tax system as a representative of Western countries' conventional non-neutral corporate taxation systems and contrast it with a neutral taxation system. The analysis uses a simple probabilistic NPV stationary model with normally distributed random errors. We show that corporate taxation is doubly regressive, in that both the effective tax rate and the riskiness of a project decrease as its return on investment increases. Diversification capabilities also can be impaired or improved by the conventional non-neutral taxation system. [ABSTRACT FROM AUTHOR]

Copyright of Revista Fatec Zona Sul (REFAS) is the property of Revista Fatec Zona Sul (REFAS) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Fatec Zona Sul (REFAS) is the property of Revista Fatec Zona Sul (REFAS) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The well called X (for confidential reasons) put into production in 2003 presents excessive water inflows a few years after it was put into production. The aim of this paper is to reduce this water flow through the chemical injection method. The available PVT, reservoir, and completion data are analyzed by using the nodal and sensitivity analysis methods. The results obtained show that initially the well X produced 509.1 STB/d of liquid, i.e. 71.3 STB/d of oil and 437.9 STB/d of water for a water cut of 86%. After flooding the tank with 80,000 ppm of polymers and 2,000 ppm of gels, the variation in viscosity followed by the decrease in oil saturation and the increase in water saturation will lead to a decrease in water cut (percentage of water production) up to 0%. This reduction in water cut is lighten the hydrostatic column so the liquid production rate is 2,572.5 STB/d of liquids, i.e. 2,058 STB/d of oil and 514.5 STB/d of water for a water cut of 20%. The economic report shows a minimum profit of $55,923,628 with a return on investment over a period of 1 month after the project is put into operation. [ABSTRACT FROM AUTHOR]

The study aims to analyse, how the sustainable performance of the company impacts the economy and businesses' economic performance, and to build a model, using environmental, social, and financial indicators. To achieve this goal such methods as the Pearson correlation, Multiple Linear Regression, Cook's distance method, K-nearest neighbour and COPRAS technique were implemented. The results indicate no significant correlation between the sustainability activities of companies and the GDP of their respective countries, nor between companies' ROE and their sustainability performance. These findings suggest that conventional methods of evaluating corporate sustainability may not accurately reflect its economic impacts. Furthermore, discrepancies observed between the Corporate Knights rankings and those calculated using the COPRAS method highlight the critical need for a deeper examination of assessment methodologies. This outcome calls for a reassessment of sustainability practices and methodologies to better understand and leverage their benefits in the corporate and economic realms. While the study provides initial insights into the current sustainability assessments, further research should explore alternative evaluative models and their implications across different industries. Companies have a significant impact on the environment and society, and sustainability is important not only for ethical concerns but also for financial and economic reasons. [ABSTRACT FROM AUTHOR]

This article details the construction and logic of a novel approach that uses Macaulay duration to create a time-weighted measure of private equity (PE) performance. The objective of this duration-adjusted return on capital metric is to compare the overall return streams of varying private investment outcomes using a single annualized rate of return. Currently, no single, unambiguous standard captures the actual growth in wealth generated by a PE investment over time. Existing metrics neither enable performance comparisons to other asset classes nor properly measure and represent, through the standard logic of compounding, the underlying portfolio assets. Therefore, the objective of the authors is to construct a clear, unbiased metric for PE investments that (as for all asset classes) has the simple but robust characteristic of practical usability in a multi-asset, multi-period capital market framework. To this end, they use capital market constraints and algorithms applied in valuing fixed income securities to properly evaluate the impact of contributions, distributions, and interim net asset values in private investing. The Macaulay duration (the "weighted average time" of a financial transaction) applied to PE fund contributions, distributions, and the resulting net financial transaction is the pivotal tool in this exercise. As presented and tested, the outcome is a modular rate of return that explains the unique time-dependent features of PE investing. [ABSTRACT FROM AUTHOR]

Climate change's impact on the planet forced the United Nations and governments to promote green energies and electric transportation. The deployments of photovoltaic (PV) and electric vehicle (EV) systems gained stronger momentum due to their numerous advantages over fossil fuel types. The advantages go beyond sustainability to reach financial support and stability. The work in this paper introduces the hybrid system between PV and EV to support industrial and commercial plants. This paper covers the theoretical framework of the proposed hybrid system including the required equation to complete the cost analysis when PV and EV are present. In addition, the proposed design diagram which sets the priorities and requirements of the system is presented. The proposed approach allows setup to advance their power stability, especially during power outages. The presented information supports researchers and plant owners to complete the necessary analysis while promoting the deployment of clean energy. The result of a case study that represents a dairy milk farmer supports the theoretical works and highlights its advanced benefits to existing plants. The short return on investment of the proposed approach supports the paper's novelty approach for the sustainable electrical system. In addition, the proposed system allows for an isolated power setup without the need for a transmission line which enhances the safety of the electrical network. [ABSTRACT FROM AUTHOR]

Context: There is little published information on how long it takes for the performance of phosphorus (P)-deficient mature cows to improve once they start receiving P supplements, or whether their long-term performance is impaired by P deficiency early in life. Aims: The performance of mature P-deficient and P-adequate Brahman cows was compared over 3 years to investigate the time it takes for the performance of P-deficient mature cows to improve once they are supplemented with P, and whether their long-term performance is compromised by P deficiency early in life. Methods: Cows that had been a part of a P-supplementation trial at Victoria River Research Station from weaning until they were 5.5 years old were used for this study. One treatment group had received continuous P supplement (P+) since weaning and the other treatment had never received any P supplement (P−). At the conclusion of the original trial, 42 cows were randomly selected from each treatment and then grazed together in the same paddock for 3 years, during which time they were given P supplement continuously. Performance attributes were measured and compared. Key results: This study found that P supplementation rapidly improved the liveweight, body condition, reproductive performance and survival rate of the P-deficient (P−) mature cows. Within a year of receiving P supplement, their performance improved to be similar to that of P+ cows. However, P deficiency early in life did have some residual stunting effects, resulting in lower mean hip height and liveweights of P− cows. Conclusions: The performance of P-deficient mature cows improved rapidly once they were given P supplements and matched that of cows that had always been supplemented. However, P deficiency early in life caused stunting, resulting in mature cows being shorter and lighter. Implications: Cattle producers in P-deficient country should see a rapid improvement in performance and return on investment once they start supplementing P-deficient cows. However, it is better to supplement cattle throughout their lives in P-deficient areas to avoid stunting. This study investigated how long it takes for the performance of phosphorus (P)-deficient mature cows to improve once they are supplemented with P, and whether their long-term performance is compromised by P deficiency early in life. The performance of P-deficient cows improved to be similar to that of P-adequate cows within a year of P supplementation commencing. However, P deficiency early in life did have some residual stunting effects, resulting in lower hip height and liveweight. [ABSTRACT FROM AUTHOR]

The present study uses K-means++ clustering to assess the financial performance patterns of renewable or clean energy companies using the Return on Equity (ROE) decomposition. It also explores the relationship between ESG and financial performance and discovers a positive relationship between ROE and ESG. The ESG-ROE relationship becomes negative or insignificant when businesses are grouped based on ROE change. The findings suggest that firm-specific heterogeneity affects the ESG-ROE relationship and long-term financial performance. Hence, it emphasizes the significance of the internal and external environment in determining firms' ESG and financial success. [ABSTRACT FROM AUTHOR]

Background: The Veterans Health Administration (VHA) is the United States largest learning health system. The Diffusion of Excellence (DoE) program is a large-scale model of diffusion that identifies and diffuses evidence-informed practices across VHA. During the period of 2016-2021, 57 evidence-informed practices were implemented across 82 VHA facilities. This setting provides a unique opportunity to understand sustainment determinants and pathways. Our objective was to characterize the longitudinal pathways of practices as they transition from initial implementation to long-term sustainment at each facility. Methods: A longitudinal, mixed-methods evaluation of 82 VHA facilities. Eighty-two facility representatives, chosen by leadership as points-of-contact for 57 DoE practices, were eligible for post-implementation interviews and annual sustainment surveys. Primary outcomes (implementation, sustainment), and secondary outcomes (institutionalization, effectiveness, anticipated sustainment) at four time-points were collected. We performed descriptive statistics and directed content analysis using Hailemariam et al.'s factors influencing sustainment. Results: After approximately five years post-implementation (e.g., 2021 sustainment outcomes), of the 82 facilities, about one-third fully sustained their practice compared to one-third that did not fully sustain their practice because it was in a "liminal" stage (neither sustained nor discontinued) or permanently discontinued. The remaining one-third of facilities had missing 2021 sustainment outcomes. A higher percentage of facilities (70%) had inconsistent primary outcomes (changing over time) compared to facilities (30%) with consistent primary outcomes (same over time). Thirty-four percent of facilities with sustained practices reported resilience since they overcame implementation and sustainment barriers. Facilities with sustained practices reported more positive secondary outcomes compared to those that did not sustain their practice. Key factors facilitating practice sustainment included: demonstrating practice effectiveness/benefit, sufficient organizational leadership, sufficient workforce, and adaptation/alignment with local context. Key factors hindering practice sustainment included: insufficient workforce, not able to maintain practice fidelity/integrity, critical incidents related to the COVID-19 pandemic, organizational leadership did not support sustainment of practice, and no ongoing support. Conclusions: We identified diverse pathways from implementation to sustainment, and our data underscore that initial implementation outcomes may not determine long-term sustainment outcomes. This longitudinal evaluation contributes to understanding impacts of the DoE program, including return on investment, achieving learning health system goals, and insights into achieving high-quality healthcare in VHA. [ABSTRACT FROM AUTHOR]

A significant legume crop in Ethiopia, chickpeas (Cicer arietinum L.) have several advantages, including high nutritional value and the capacity to improve soils deficient in nitrogen through biological nitrogen fixation using several endosymbiotic Mesorhizobium spp. strains. However, the host variety, the soil's capacity to hold nutrients, and the endosymbiont's innate physiological traits all affect how efficient the strains are. The primary obstacles to its cultivation in the research area are inadequate agronomicmethods and low soil fertility [low nitrogen (N), low soil organic matter (OM), low accessible phosphorous (P), sulfur (S), and boron (B)], which results in ineffective nodulation. To evaluate the effects of NPSB fertilization and inoculation, a field experiment was carried out in Buchach Kebele's Cheha area during the primary cropping season of 2021/22. The trial included two chickpea kinds (Local and Arerti), twoNPSB levels (zero and 121 kg NPSB ha-1), and four levels of Mesorhizobium strains (CP-M41, CP-EAL 029, CP-M20b, and un-inoculated control). A randomized complete block design (RCBD) was used to organize the treatments in a factorial form with three replications. In comparison to the single application and the control, the interaction impact of strains, NPSB fertilizer, and variety greatly increased nodulation parameters, growth parameters, yield, and yield components. The Arerti variety combined with the CP-M41 Mesorhizobium strain andNPSB fertilizer had themaximum grain production (3177.16 kg ha-1). It yielded 15.96%, 24.06%, and 37.93%more than the Arerti with CP-M41 strain, Arertiwith NPSB, and the control treatments, respectively. The partial budget analysis of the study treatments showed that the Arerti varietywith the combined application of 121 kg NPSB ha-1 and Mesorhizobium strain CP-M41 inoculation produced the highest net return (102,092.6 ETB ha-1) with an acceptable marginal rate of return (618%). It has been found that the CPM41 strain and the Arerti variety, when combined with 121 kg NPSB ha-1 application, is a suitable treatment combination to achieve increased chickpea crop yield and profit in the studied area. However, the results need further validation in the farmer's field before recommending to farmers. [ABSTRACT FROM AUTHOR]

This study empirically investigates the linkage between boardroom independence and the financial performance of non-financial firms in an emerging market featured by family-controlled businesses and concentrated ownership. The relationship is tested in a sample of 152 non-financial firms listed on the Pakistan Stock Exchange over a period from 2003 to 2018. Firms' financial performance is measured through return on assets (ROA), return on equity (ROE), market-to-book ratio (MBR), and Tobin's Q (TQ), while boardroom independence is measured through the proportion of non-executive directors on the corporate board. Using the dynamic GMM approach to address the possibility of endogeneity, it was found that boardroom independence is significantly negatively related to the financial performance of the sample firms. This negative impact is due to the reason of close ties of outside independent directors (non-executive directors) with dominant shareholders and management in personal, financial, and social terms. A significant negative influence of the board size and CEO duality on firms' financial performance was also observed. The present study will add to the existing literature on corporate governance and firm financial performance using firm-level manually collected data. Further, our findings will also help the policymakers by providing empirical insights for strengthening corporate governance mechanisms in emerging market economies, specifically in the context of Pakistan. [ABSTRACT FROM AUTHOR]

This paper considers traditional and online stores under the context of a dual-channel retailing system. Fully refunded returns are permissible in both forms: same-channel and cross-channel. We examined three different coordination strategies that may form between the retailer and a third-party logistics and service provider. The provider was tasked to manage the online store's orders through transaction-based fees, flat-based fees, and gain-sharing contracts. For each of those strategies, we found the online store's optimal pricing policy and the seasonal fee, if applicable. The performance ratings of the partners under the different strategies were compared, and the managerial insights were provided using analytical as well as numerical analysis. It was found that the retailer is always more profitable under the flat-based fee strategy compared to the gain-sharing strategy, while the provider was almost always more profitable under the latter strategy. Moreover, a low rate of return encouraged the retailer to have more independence by implementing the transaction-based fee strategy, while a high rate pushed the retailer to have more logistical involvement and support through the implementation of either the flat-based fee or gain-sharing strategies. [ABSTRACT FROM AUTHOR]

The financial system of production-sharing contracts has more complications in comparison with other oil contracts, especially production participation contracts. The financial system and the conditions governing the payment and repayment of production-sharing contracts can be modeled at various times during the implementation of these contracts, and by using this modeling, the profitability of the plan for the parties of the contract can be evaluated, and an optimal decision can be made based on the results of the modeling In the research literature, the economic analysis of oil production-sharing contracts in the middle stages of contract implementation has not been done or very little has been done from the perspective of the investor. In this paper, economic mathematical modeling of oil production-sharing contracts with the aim of maximizing the investor's internal rate of return is presented. In this model, the data is derived from a real contract that has been delayed for approximately 30 months, as well as payment and repayment forecasts for the next 56 months. To optimize the model, we have simulated monthly payments and repayments were generated by observing their minimum and maximum values in 2000 times and each time, the rate of return was calculated, and the optimal payment and repayment amount was determined. Results specify that if the contract has been delayed, the investor can improve the internal rate of return by managing the timing of payments. [ABSTRACT FROM AUTHOR]

Sweetpotato (Ipomoea batatas (L) Lam) is prioritized among crops that enhance food security and reduce malnutrition in Ghana. The production is expanding faster than other food crops owing to its superior nutrient composition. This study evaluates integrated approaches to increase on‐farm productivity, income, and utilization of sweetpotato. The first part evaluated the agronomic yield performance, financial return, and sensory quality of 10 varieties under different fertilizer treatments. The second part of activities assessed both storage root and leaf composition (i.e., total sugars, dry matter, protein, Fe, Zn, Ca, total phenolic, total monomeric anthocyanins, lutein, zeaxanthin, α‐tocopherol, β‐carotene, and total carotenoids). Third, storage stability characteristics were assessed (i.e., shelf life and the incidence of decay). Application of NPK of 40:40:70 at 300 kg ha−1 significantly (p < 0.001) increased storage root yield from 12.4 to 17.3 t ha−1, which represents a 32% increase in yield compared to farmers' standard practice. The variety SARI‐JanLow (where SARI is Savanna Agricultural Research Institute) was outstanding for root yield (23.5 t ha−1) and β‐carotene content (20.8 Mg 100 g−1). SARI‐Tiemeh was consistently ranked among the three most preferred varieties by the sensory panel across the production hubs. At locations Nyankpala and Nikongo, the most responsive varieties to fertilizer application with regard to marketable storage root yield were SARI‐Tiemeh (108%) and PGA14351‐4 (79%), respectively. The varieties SARI‐Nyumengre (1.4%), SARI‐Nyoriberi‐gu (1.4%), and PGA14351‐4 (1.6%) were the least susceptible to sweetpotato weevil attack. Considering the benefit–cost ratio and a return on investments, the four most economically viable varieties appear to be SARI‐JanLow, SARI‐Suyolo, SARI‐Tiemeh, and SARI‐Nyoriberi‐gu. Core Ideas: Fertilizer application increased storage root yield productivity by 36%–108% compared to farmers' standard practice.The benefit–cost ratio of 4.1:6 and a return on investment of 306%–501% were recorded in high‐yielding varieties.SARI‐JanLow (where SARI is Savanna Agricultural Research Institute) recorded the highest storage root yield and β‐carotene content, but SARI‐Tiemeh possesses superior sensory qualities.At the 40% decay threshold, SARI‐Nyoriberi‐gu, SARI‐Nyumengre, and SARI‐Nan showed longer shelf‐life.Leaf nutrients are compared favorably with vegetables such as Amaranthus spp. and Colocasia spp. [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]

Foam flooding has been successfully implemented in solving problems that arise during gas flooding as it increases gas viscosity and reduces gas relative permeability resulting in favorable mobility ratios and better volumetric sweep efficiency. This research study aims to evaluate the effect of different flood patterns on field performance during foam enhanced oil recovery. A three-dimensional reservoir simulation model was developed with a reservoir simulator and each flood pattern including normal and inverted four, five, seven, and nine-spots were modeled and simulated separately under consistent conditions of field gas injection rate, bottom-hole pressure of production wells, and surfactant concentration. Field Oil Efficiency (FOE), Net Present Value (NPV), Rate of Return (ROR), and Payout Time (POT) were used in making comparisons. An Original Oil in Place of 139.43 MMSTB was found at the initialization. Simulation results showed that a normal and an inverted five-spot pattern were more effective in their respective categories as they resulted respectively in higher FOE, lower FGOR, higher NPV and ROR, and shorter POT. An inverted five-spot resulted in an FOE of 4.36 %, an NPV of $ 83.48 million, and an ROR of 13.64% higher than that obtained for a normal five spot, and a payout time of 1.54 years shorter than that obtained for the normal five spots. The findings highlight the superior efficiency of the normal and inverted five-spot patterns, with the inverted five-spot pattern demonstrating significantly better performance in terms of FOE, NPV, ROR, and POT. Based on the presented results, an inverted five-spot pattern was recommended in this paper as the best flood pattern during foam-enhanced oil recovery applications. [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]

The combination of a land‐based system and natural habitat can propagate donor plants from cuttings for use in seagrass restoration projects; however, the appropriate period for land‐based cultivation is unclear. Eelgrass (Zostera marina) cuttings were cultivated under different combinations of land‐based (0, 3, 6, 9, and 12 weeks) and natural habitat cultivation for 12 weeks. We measured survivorship, growth, productivity, leaf pigmentation, and carbohydrate concentration in eelgrass. Return on investment (defined as the number of ramets of Z. marina returned through input cultivation costs in the seagrass cultivation process) analysis suggested that the optimal period of land‐based cultivation for the propagation of Z. marina is 3.1–3.8 weeks. The ramet frequency of Z. marina exposed to a combination of land‐based cultivation (3 weeks) and natural habitat cultivation (9 weeks) was 1.4 times higher than that of plants cultivated in natural habitats for 12 weeks. The promotional effect of the combination of land‐based and natural habitat cultivation on Z. marina mainly depended on the increase in chlorophyll content and the accumulation and synthesis of nonstructural carbohydrates. The soluble sugar content of Z. marina leaves exposed to a combination of land‐based cultivation (3 weeks) and natural habitat cultivation (9 weeks) was 1.5 times higher than that of plants cultivated in natural habitats for 12 weeks. These results indicated that implementation of a controlled plant cultivation system and process to acquire abundant donor plants. This can help provide valuable data for the development of efficient artificial propagation technologies for Z. marina. [ABSTRACT FROM AUTHOR]