Comparing freight transport strategies and measures in London and Paris

The paper compares the approach being taken to freight transport strategy and the specific policy measures being implemented in London and Paris. It highlights the serious consideration that has been given to freight transport by the Mayors of London and Paris in the last five years. These freight policy considerations are taking place against a background of growing levels of road freight activity, energy use and pollutant emissions in both cities. The key freight transport objectives being followed in London and Paris are similar and focus on improving the efficiency and reliability of freight transport while reducing the negative environmental impacts that it causes. The specific freight transport policy measures being followed show some differences in each city. However, attempts to address problems related to loading and unloading are taking place in both, albeit through different specific initiatives. These policy initiatives have important implications for companies concerned with urban logistics operations.

CO2 reduction and efficiency in road freight traffic: measures, baseline and potential

The objective of our research was to analyse the relevant logistic factors influencing energy efficiency in road freight transport, while quantifying the potential for CO2 reduction. We carried out a survey and linked fuel consumption to transport performance parameters in 50 German haulage companies during 2003. Efficiency ranges from 0.8 tkm to 26 tkm for 1 kg CO2 emissions. The results show a high potential for improvements, given a low level of efficiency in vehicle usage and load factor, scarce use of lightweight vehicle design, incorrectly selected vehicle class and a high proportion of empty runs. Efficiency measures are poorly applied.

Exchange-Trade Funds Evaluation using Performance Measures Distribution

In this study we propose the use of the performance measure distribution rather than its punctual value to rank hedge funds. Generalized Sharpe Ratio and other similar measures that take into account the higher-order moments of portfolio return distributions are commonly used to evaluate hedge funds performance. The literature in this field has reported non-significant difference in ranking between performance measures that take, and those that do not take, into account higher moments of distribution. Our approach provides a much more powerful manner to differentiate between hedge funds performance. We use a non-semiparametric density based on Gram-Charlier expansions to forecast the conditional distribution of hedge fund returns and its corresponding performance measure distribution. Through a forecasting exercise we show the advantages of our technique in relation to using the more traditional punctual performance measures.