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Using the peer-exposure ratio, we explore the factor exposure heterogeneity in green and brown stocks. By looking at peer groups of S&P 500 index firms over 2014-2020 based on their greenhouse gas emission levels, we find that, on average, green stocks exhibit less factor exposure heterogeneity than brown stocks for most of the traditional equity factors but the value factor. Hence, investment managers shifting their investments from brown stocks to green stocks have less room to differentiate themselves regarding their factor exposures. Finally, we find that factor exposure heterogeneity has increased for green stocks compared to earlier periods., Forthcoming in Finance Research Letters. arXiv admin note: substantial text overlap with arXiv:2201.05709

Through a data-driven analysis, namely network analysis, we investigate the relationships between all existing cryptocurrencies. Starting from the analysis of cryptocurrencies in 2013, we extend our study until July 2018 to study the interdependencies between 1636 cryptocurrencies. Our study shows that, although Bitcoin is the older and the most famous cryptocurrency, it does not appear as an influential asset on the virtual currency market. Our analysis also indicates a densification of the interconnections between virtual currencies, indicating that change of a single coin will likely influence many other coins. Interestingly, we also observe that the most influential cryptocurrencies for a year appear not to be influential the following year. Finally, cryptocurrencies tend to change their influence over time suggesting a short-term interdependence between them. JEL: G11, G12

We explore the realized alpha-performance heterogeneity in green and brown stocks' universes using the peer performance ratios of Ardia and Boudt (2018). Focusing on S&P 500 index firms over 2014-2020 and defining peer groups in terms of firms' greenhouse gas emission levels, we find that, on average, about 20% of the stocks differentiate themselves from their peers in terms of future performance. We see a much higher time-variation in this opportunity set within brown stocks. Furthermore, the performance heterogeneity has decreased over time, especially for green stocks, implying that it is now more difficult for investment managers to deploy their skills when choosing among low-GHG intensity stocks.

Nowadays, the rapid development of information technology has opened up new development trends for countries. The concept of “Digital Economy” appears and is mentioned as an inevitable trend in the future. However, due to the advancement of technology platforms which results in such quick changes and applications in many fields that the concept of digital economy has not yet been defined accurately and universally, nor yet been clarified which activities are included in the measurement for the digital economy. The objective of this study is to give an overview of digital economy concepts and ways of measuring digital economy used by countries around the world. Further studies can be screened and adjusted to create a set of criteria for measuring digital economy for Vietnam

In this research article, we aim to study the proposed role of human&ndash, machine interactive (HMI) technologies, including both artificial intelligence (AI) and virtual reality (VR)-enabled applications, for the post-COVID-19 revival of the already depleted tourism industry in Vietnam&rsquo, s major tourist destination and business hub of Ho Chi Minh City. The researchers aim to gather practical knowledge regarding tourists&rsquo, intentions for such service enhancements, which may drive the sector to adopt a better conclusive growth pattern in post-COVID-19 times. In this study, we attempt to focus on travelers who look for paramount safety with the assurance of empathetic, personalized care in post-COVID-19 times. In the current study, the authors employ structural equation modeling to evaluate the intentions of tourists both structurally and empirically for destination tourism with data collected from tourists with previous exposure to various kinds of these devices. The study shows that human&ndash, machine interactive devices are integrating AI and VR and have a significant effect on overall service quality, leading to tourist satisfaction and loyalty. The use of such social interactive gadgets within tourism and mostly in hospitality services requires an organization to make a commitment to futuristic technologies, along with building value by enriching service quality expectations among fearful tourists. This research shows that tourists mainly focus on the use of such HMI devices from the perspective of technology acceptance factors, qualitative value-enhancing service and trustworthy information-sharing mechanisms. The concept of the tour bubble framework is also discussed in detail. The analysis of this discussion gives us a more profound understanding of the novel opportunities which various administrative agencies may benefit from to position these devices better in smart, sustainable destination tourism strategies for the future so that, collectively, service 5.0 with HMI devices can possibly bring back tourism from being disintegrated. Such service applications are the new social innovations leading to sustainable service and a sophisticated experience for all tourists.

Background: The fetoscopic approach to the prenatal closure of a neural tube defect (NTD) may offer similar advantages to the newborn compared to prenatal open closure of a NTD, with a reduction in maternal risks. Enhanced recovery after surgery (ERAS) protocols have been applied to different surgical procedures with documented advantages. We modified the perioperative care of patients undergoing in utero repair of myelomeningocele with the goal of enhancing the recovery. A retrospective study comparing traditional management to the ERAS protocol was conducted. Aims: Primary aim was to evaluate the length of stay (LOS). Secondary outcomes included pain scores, time to oral intake, opioid-induced side effects, and respiratory complications. Methods: Thirty patients who underwent a mid-gestation fetoscopic closure of a NTD were included. Data analyzed include demographics, comorbidities, LOS, anatomical location of the NTD, magnesium sulfate doses and duration of administration, oxygen requirements, duration of the postoperative epidural infusion, duration of surgery and anesthesia, incidence of postoperative nausea and vomiting, respiratory complications, time to oral intake, pain scores, and sedation scores. Differences between the treatment groups were compared using the independent sample t-test or Mann-Whitney Ʋ test. Results: Of the 30 patients, 10 patients were managed according to the ERAS protocol and 20 patients according to the traditional management (1:2 ratio). The mean gestational age at the time of intervention for the traditional and ERAS groups was 24.9 ± 0.5 weeks and 24.8 ± 0.5 weeks, respectively. Compared to the traditional group, the LOS was reduced in the ERAS group to 112.5 ± 12.6 h (4.7 ± 0.5 days) from 179.7 ± 87.9 h (7.5 ± 3.7 days) (p = 0.012). The time to oral intake was also shorter 502.6 ± 473.4 min versus 1015.6 ± 698.2 min; p = 0.049. Oxygen requirements were prolonged in the traditional group (1843.7 ± 1262.6 min vs. 1051.7 ± 1078.1 min p = 0.052). The total duration of magnesium sulfate was longer for patients in the traditional group (2125.6 ± 727.1 min vs. 1429.5 ± 553.8 min; p = 0.006). No statistically significant difference in pain scores was observed between the groups. Conclusions: Establishing an ERAS protocol for fetoscopic in utero repair of NTDs approach is feasible with the advantages of decreased postoperative LOS, reduced oxygen requirements, lower duration of magnesium sulfate infusion, and facilitation of earlier oral intake without compromising the pain scores.

This research discusses the role of Web 4.0 and 5.0 devices on the commercial sustainability for tourism in Ho Chi Minh City (HCMC), Vietnam. The study adopts a tourist perspective regarding the future implementation of Web 4.0 and 5.0 devices, focusing on the service quality of various tourism-associated services and assessing, in return, the extent to which the overall satisfaction and long-term patronage of tourists is affected. Usually, researchers conduct this test in various popular establishments where devices are intended for experimental use and tourists are supposed to have previous exposure to them, so that their perceptual thinking regarding the service quality of these devices can be studied. The tourists act as respondents for various establishments. We also asked subjective questions in a short interview to 10 professionals working in these establishments, which helped us in the quantitative survey process. As a mixed method study, it has covered both quantitative and qualitative aspects of the items and provided a holistic result. The results indicated that Web 4.0 and 5.0, along with the service quality offered by personnel working in the establishments, showed significant variance in holistic service evaluation for tourist satisfaction and loyalty. Very few service quality factors had a distinct variance in the output. After using a regression analysis for Web 4.0 and 5.0 devices and service quality, we found that Web 4.0 and 5.0 showed insignificant negative results. This study contributes to the incremental research on Web 1.0 to 5.0, specifically detailing how it affects tourists&rsquo, satisfaction and patronage. Moreover, from a management point of view, this study can help solve the financial riddle of various establishments in HCMCs tourism ecosystem for optimum fund management and better productivity.

When Bowen introduced definition of corporate social responsibility (CSR) in 1953, it has attracted many researchers in both theoretical and applied research. Business managers recognized that when their companies do CSR, they create a better image in the community and are more well-known than their competitors, therefrom increasing their business performance. However, CSR has become widespread in developed nations but in developing ones like Vietnam, it is a relatively new concept that has not caught much public attention. This paper therefore put forth a conceptual model of CSR for tourist companies in Vietnam. This model shows the relationship between CSR, firm reputation and firm performance. From the proposed model, the following studies may continue to using this model to survey to reinforce its value.

Recently, consumers are not only pay attention to the quality and price of goods but also interested in the impact of products on the environment during their lifecycle. Therefore, to meet the consumers' needs, businesses are forced to change the production processes, logistics and marketing operations. In the field of marketing, the green marketing strategy, which seems to be a useful tool for solving that problem, had appeared and became popular in the developed countries. However, this concept is still new in the developing countries such as Vietnam. The overall of this paper is to introduce green marketing strategy as well as the need to apply it.

International audience; On s’intéresse ici à l’entrefer discoïde entre un rotor et un stator, qu’on rencontre notamment dans les alternateurs d’éoliennes de dernière génération. Des comparaisons entre des mesures de vitesse par PIV et de température par thermographie infrarouge et des résultats numériques issus d’un modèle aux tensions de Reynolds [1] sont effectuées pour une cavité ouverte caractérisée par G=e/R=0.02 et e/D=0.25 sur une large gamme de nombres de Reynolds : 17200≤Rej=VD/ν≤43000 et 33000≤ Re=ΩR2/ν ≤ 532000. Trois régions d’écoulement ont été identifiées : une zone dominée par le jet à faibles rayons caractérisée par une vitesse tangentielle nulle et de fortes valeurs du nombre de Nusselt, une zone dominée par la rotation en périphérie de la cavité où le nombre de Nusselt est faible, et une zone mixte entre les deux. Pour tous les jeux de paramètres considérés, la turbulence est quasi-isotrope dans le coeur de l’écoulement. Les intensités de turbulence sont maximales dans une région située juste en aval de la zone d’impact du jet. Un bon accord entre les mesures PIV et les prévisions du modèle de turbulence a été obtenu.

Quantitative risk analysis in the offshore industry is mandated by the Norwegian legislation. A literature survey is carried out, related to the current legislation from the Norwegian Petroleum Safety Authority (PSA) and supporting NORSOK standards. Process accidents on offshore installations, operating on the Norwegian continental shelf are emphasized. A risk picture is the synthesis of a risk assessment, describing the risk level. Requirements to the risk picture are discussed, and associated risk measures are presented. The risk measures represent the quantitative parts of a risk picture and the measures are evaluated against risk acceptance criteria. The evaluation can be performed with a mechanistic approach, or more flexibly by using the as low as reasonably practicable principle. Uncertainty is an important aspect that many quantitative risk analyses treat too briefly. Assumptions are always made in risk analyses, and uncertainty therefore becomes an important issue. To put it on the agenda, an introduction to the topic is given. The main purpose of a risk analysis is to support decision-making and the analysts should keep that in mind when performing the analysis. The field of quantitative risk analysis has received some criticisms, but some of it is unjust. To understand why, the scope of the quantitative risk analysis must be understood. Risk can be considered both from a strategic (long-term) and an operational (day-to-day) perspective. For quantitative risk analyses, a probabilistic view is used, dealing with probabilities and expected values. Strategic decision-making fits with this approach, but renders a day-to-day basis decision-making unsuitable. In addition, quantitative risk analysis copes with several types of hazards, with a long time span. The resources needed to handle all the hazards on an operational level of detail would be tremendous. Several methods can be used when performing a quantitative risk analysis. The approach used by Scandpower is explored in detail. The main method currently used is event tree analysis. This method has some challenges. A problem addressed is the treatment of dependencies, both within and between event trees. The answer is related to how RiskSpectrum, a fault and event tree software, calculates the end event frequencies. A second problem is the treatment of human reliability, and how it can be implemented in the event tree analyses. Large investments have been used on fire protection systems, to mitigate the consequences of process accidents. The thesis endeavors to study the importance of these safety systems. The emphasis is how the systems’ reliability is modeled and treated in a quantitative risk analysis. To investigate the effects of the safety systems on the risk measures, three quantitative risk analyses are explored in detail. This was executed by using sensitivity analyses. The sensitivity analyses are performed by altering the failure probabilities to the far ends. Astonishing results arisen. An attempt has been made to understand the mechanisms leading to the results. Possible explanations are discussed, and the three most important are outlined. An input to the quantitative risk analyses is reliability data of the safety systems, but there can be nonconformity between the data. Vendor data seems to be too optimistic related to the field performance. Possible explanations are discussed in the thesis. A best practice is presented, formed as an extended conclusion. Topics considered are: - Challenges when modeling the event trees - How to include vulnerability of the safety systems - Uncertainties with the effect of deluge - Human factors - Dependencies