Paper 1: The disruptive forces of the sharing economy

Overview: - The sharing economy unlocks a previously unused value of goods and labour, and causes disruption in established industries. - The pattern of disruption is similar regardless of the industry that's impacted. While the initial phases of disruption are transformational for many (e.g. lost jobs), often the industries end up stronger than before they were before the disruption. - Due to different in setting, upholding and enforcing standards, it is hard to assess the regulatory trade-offs. Safety, labour relations and social fairness are important factors to consider across the industry.

Residential Differentiation, Housing Policy and Urban Planning in the Transformation from State Socialism to a Market Economy: The Case of Tallinn

The thesis examines urban issues arising from the transformation from state socialism to a market economy. The main topics are residential differentiation, i.e., uneven spatial distribution of social groups across urban residential areas, and the effects of housing policy and town planning on urban development. The case study is development in Tallinn, the capital city of Estonia, in the context of development of Central and Eastern European cities under and after socialism. The main body of the thesis consists of four separately published refereed articles. The research question that brings the articles together is how the residential (socio-spatial) pattern of cities developed during the state socialist period and how and why that pattern has changed since the transformation to a market economy began. The first article reviews the literature on residential differentiation in Budapest, Prague, Tallinn and Warsaw under state socialism from the viewpoint of the role of housing policy in the processes of residential differentiation at various stages of the socialist era. The paper shows how the socialist housing provision system produced socio-occupational residential differentiation directly and indirectly and it describes how the residential patterns of these cities developed. The second article is critical of oversimplified accounts of rapid reorganisation of the overall socio-spatial pattern of post-socialist cities and of claims that residential mobility has had a straightforward role in it. The Tallinn case study, consisting of an analysis of the distribution of socio-economic groups across eight city districts and over four housing types in 1999 as well as examining the role of residential mobility in differentiation during the 1990s, provides contrasting evidence. The third article analyses the role and effects of housing policies in Tallinn s residential differentiation. The focus is on contemporary post-privatisation housing-policy measures and their effects. The article shows that the Estonian housing policies do not even aim to reduce, prevent or slow down the harmful effects of the considerable income disparities that are manifest in housing inequality and residential differentiation. The fourth article examines the development of Tallinn s urban planning system 1991-2004 from the viewpoint of what means it has provided the city with to intervene in urban development and how the city has used these tools. The paper finds that despite some recent progress in planning, its role in guiding where and how the city actually developed has so far been limited. Tallinn s urban development is rather initiated and driven by private agents seeking profit from their investment in land. The thesis includes original empirical research in the three articles that analyse development since socialism. The second article employs quantitative data and methods, primarily index calculation, whereas the third and the fourth ones draw from a survey of policy documents combined with interviews with key informants. Keywords: residential differentiation, housing policy, urban planning, post-socialist transformation, Estonia, Tallinn

Metal Nanoparticles via the Atom-Economy Green Approach

Metal nanoparticles (NPs) of Cu(air-stable),Ag,and Au have been prepared using an atom-economy green approach Simple mechanical stirring of solid mixtures (no solvent) of a metal salt and ammonia borane at 60 degrees C resulted in the formation of metal NPs. In this reaction, ammonia borane is transformed into a BNHx polymer, which protects the NPs formed and halts their growth. This results in the formation of the BNHx polymer protected monodisperse NPs Thus, ammonia borane used in these reactions plays a dual role (reducing agent andprecursor for the stabilizing agent).

Large-scale structures in turbulent and reverse-transitional sink flow boundary layers

Aspects of large-scale organized structures in sink flow turbulent and reverse-transitional boundary layers are studied experimentally using hot-wire anemometry. Each of the present sink flow boundary layers is in a state of 'perfect equilibrium' or 'exact self-preservation' in the sense of Townsend (The Structure of Turbulent Shear Flow, 1st and 2nd edns, 1956, 1976, Cambridge University Press) and Rotta (Progr. Aeronaut. Sci., vol. 2, 1962, pp. 1-220) and conforms to the notion of 'pure wall-flow' (Coles, J. Aerosp. Sci., vol. 24, 1957, pp. 495-506), at least for the turbulent cases. It is found that the characteristic inclination angle of the structure undergoes a systematic decrease with the increase in strength of the streamwise favourable pressure gradient. Detectable wall-normal extent of the structure is found to be typically half of the boundary layer thickness. Streamwise extent of the structure shows marked increase as the favourable pressure gradient is made progressively severe. Proposals for the typical eddy forms in sink flow turbulent and reverse-transitional flows are presented, and the possibility of structural self-organization (i.e. individual hairpin vortices forming streamwise coherent hairpin packets) in these flows is also discussed. It is further indicated that these structural ideas may be used to explain, from a structural viewpoint, the phenomenon of soft relaminarization or reverse transition of turbulent boundary layers when subjected to strong streamwise favourable pressure gradients. Taylor's 'frozen turbulence' hypothesis is experimentally shown to be valid for flows in the present study even though large streamwise accelerations are involved, the flow being even reverse transitional in some cases. Possible conditions, which are required to be satisfied for the safe use of Taylor's hypothesis in pressure-gradient-driven flows, are also outlined. Measured convection velocities are found to be fairly close to the local mean velocities (typically 90% or more) suggesting that the structure gets convected downstream almost along with the mean flow.

Essays on Corporate Governance and the Quality of Disclosed Earnings: Across Transitional Europe

A growing body of empirical research examines the structure and effectiveness of corporate governance systems around the world. An important insight from this literature is that corporate governance mechanisms address the excessive use of managerial discretionary powers to get private benefits by expropriating the value of shareholders. One possible way of expropriation is to reduce the quality of disclosed earnings by manipulating the financial statements. This lower quality of earnings should then be reflected by the stock price of firm according to value relevance theorem. Hence, instead of testing the direct effect of corporate governance on the firm’s market value, it is important to understand the causes of the lower quality of accounting earnings. This thesis contributes to the literature by increasing knowledge about the extent of the earnings management – measured as the extent of discretionary accruals in total disclosed earnings - and its determinants across the Transitional European countries. The thesis comprises of three essays of empirical analysis of which first two utilize the data of Russian listed firms whereas the third essay uses data from 10 European economies. More specifically, the first essay adds to existing research connecting earnings management to corporate governance. It testifies the impact of the Russian corporate governance reforms of 2002 on the quality of disclosed earnings in all publicly listed firms. This essay provides empirical evidence of the fact that the desired impact of reforms is not fully substantiated in Russia without proper enforcement. Instead, firm-level factors such as long-term capital investments and compliance with International financial reporting standards (IFRS) determine the quality of the earnings. The result presented in the essay support the notion proposed by Leuz et al. (2003) that the reforms aimed to bring transparency do not correspond to desired results in economies where investor protection is lower and legal enforcement is weak. The second essay focuses on the relationship between the internal-control mechanism such as the types and levels of ownership and the quality of disclosed earnings in Russia. The empirical analysis shows that the controlling shareholders in Russia use their powers to manipulate the reported performance in order to get private benefits of control. Comparatively, firms owned by the State have significantly better quality of disclosed earnings than other controllers such as oligarchs and foreign corporations. Interestingly, market performance of firms controlled by either State or oligarchs is better than widely held firms. The third essay provides useful evidence on the fact that both ownership structures and economic characteristics are important factors in determining the quality of disclosed earnings in three groups of countries in Europe. Evidence suggests that ownership structure is a more important determinant in developed and transparent countries, while economic determinants are important determinants in developing and transitional countries.

Effect of favorable pressure gradient on transitional spot formation rate

The calculation of the transitional boundary layer requires estimates of the extent of the transition zone, which in turn depends on the rate at which turbulent spots are formed. This rate has been found to scale with local boundary layer thickness and viscosity, and the resulting nondimensional group (called crumble) is a function of the pressure gradient, among other parameters. Available experimental data are analyzed to show that the crumble increases slowly with increasing favorable pressure gradients, being about four times as large as in constant-pressure flow when the Thwaites pressure gradient parameter at the effective origin of the resulting turbulent boundary layer is 0.1 and when transition is driven by free-stream turbulence.

Integral method for the calculation of incompressible two-dimensional transitional boundary layers

The method proposed here considers the mean flow in the transition zone as a linear combination of the laminar and turbulent boundary layer in proportions determined by the transitional intermittency, the component flows being calculated by approximate integral methods. The intermittency distribution adopted takes into account the possibility of subtransitions within the zone in the presence of strong pressure gradients. A new nondimensional spot formation rate, whose value depends on the pressure gradient, is utilized to estimate the extent of the transition zone. Onset location is determined by a correlation that takes into account freestream turbulence and facility-specific residual disturbances in test data. Extensive comparisons with available experimental results in strong pressure gradients show that the proposed method performs at least as well as differential models, in many cases better, and is always faster.

Evaluation of strain-rate effects in transitional round jets using direct numerical simulation

The coherent flame model uses the strain rate to predict reaction rate per unit flame surface area and some procedure that solves for the dynamics of flame surfaces to predict species distributions. The strainrate formula for the reaction rate is obtained from the analytical solution for a flame in a laminar, plane stagnation point flow. Here, the formula's effectiveness is examined by comparisons with data from a direct numerical simulation (DNS) of a round jetlike flow that undergoes transition to turbulence. Significant differences due to general flow features can be understood qualitatively: Model predictions are good in the braids between vortex rings, which are present in the near field of round jets, as the strain rate is extensional and reaction surfaces are isolated. In several other regions, the strain rate is compressive or flame surfaces are folded close together. There, the predictions are poor as the local flow no longer resembles the model flow. Quantitative comparisons showed some discrepancies. A modified, consistent application of the strain-rate solution did not show significant changes in the prediction of mean reaction rate distributions.

Transitional intermittency detection by neural network

A neural network has been used to predict the flow intermittency from velocity signals in the transition zone in a boundary layer. Unlike many of the available intermittency detection methods requiring a proper threshold choice in order to distinguish between the turbulent and non-turbulent parts of a signal, a trained neural network does not involve any threshold decision. The intermittency prediction based on the neural network has been found to be very satisfactory.

Constant pressure laminar, transitional and turbulent flows - An approximate unified treatment

A nondimensional number that is constant in two-dimensional, incompressible and constant pressure laminar and fully turbulent boundary, layer flows has been proposed. An extension of this to constant pressure transitional flow is discussed.

Optimal allocation of carbon credits to emitting agents in a carbon economy

Reduction of carbon emissions is of paramount importance in the context of global warming. Countries and global companies are now engaged in understanding systematic ways of achieving well defined emission targets. In fact, carbon credits have become significant and strategic instruments of finance for countries and global companies. In this paper, we formulate and suggest a solution to the carbon allocation problem, which involves determining a cost minimizing allocation of carbon credits among different emitting agents. We address this challenge in the context of a global company which is faced with the challenge of determining an allocation of carbon credit caps among its divisions in a cost effective way. The problem is formulated as a reverse auction problem where the company plays the role of a buyer or carbon planning authority and the different divisions within the company are the emitting agents that specify cost curves for carbon credit reductions. Two natural variants of the problem: (a) with unlimited budget and (b) with limited budget are considered. Suitable assumptions are made on the cost curves and in each of the two cases we show that the resulting problem formulation is a knapsack problem that can be solved optimally using a greedy heuristic. The solution of the allocation problem provides critical decision support to global companies engaged seriously in green programs.

An economical method for direct numerical simulation studies of transitional round jets

A pseudo-spectral method based on Fourier expansions in a Cartesian coordinate system is shown to be an economical method for direct numerical simulation studies of transitional round jets, Several characteristics of the solutions are presented to establish the validity of the solutions in spite of the unnatural choices. We show that neither periodicity, nor the use of a Cartesian system have adversely affected the simulations, Instead, there are benefits in terms of ease of computing and lack of the usual restrictions due to grid structure near the jet axis. By computing the simultaneous evolution of passive scalers, the process of reaction in round jet burners, between a fuel-laden jet and an ambient oxidizer, was also simulated. Some typical solutions are shown and then the results of analysis of these data are summarized. (C) 2001 Elsevier Science Ltd, All rights reserved.