Adopting an integrated, flexible approach to reducing the birdstrike risk from Canada geese

Canada Geese overflying the runways at London’s Heathrow Airport have been struck on eleven occasions by aircraft during the last ten years. Four of these occurred during the pre-breeding season and seven during the post moult period. A monitoring study was initiated in 1999 to evaluate the movements of geese around the airport and determine appropriate mitigation strategies to reduce the risk of birdstrike. Moult sites within 13km of the airport were identified. 4,900 moulting geese were caught and fitted with colour rings and radio-transmitters between 1999 and 2004. 2,500 visits were made to over 300 sites resulting in over 10,000 sightings of known individuals. Birds that crossed the airport approaches whilst moving between roost sites and feeding areas in newly harvested cereal crops were identified. Throughout the monitoring period efforts were made to control the risk, but by 2003 it was estimated that 10,000 bird transits of the approaches involving almost 700 individuals occurred during a 50 day period. The knowledge of the movements of ringed and tagged birds was used to inform a revised habitat management, daily roost dispersal and on-airfield bird deterrence programme in 2004. By adopting a flexible approach to management, an estimated 70% reduction in bird transits was achieved. This paper discusses the techniques used to achieve this reduction.

Biomechanical Performance of Flexible Intramedullary Nails With End Caps Tested in Distal Segmental Defects of Pediatric Femur Models

Background: Unstable distal femoral fractures in children are challenging lesions with restricted surgical options for adequate stabilization. Elastic nails have become popular for treating femoral shaft fractures, yet they are still challenging for using in distal fractures. The aim of this study was to test whether end caps (CAP) inserted into the nail extremity improved the mechanical stabilization of a segmental defect at the distal femoral metaphyseal-diaphyseal junction created in an artificial pediatric bone model. Methods: Two 3.5-mm titanium elastic nails (TEN) were introduced intramedullary into pediatric femur models, and a 7.0-mm-thick segmental defect was created at the distal diaphyseal-metaphyseal junction. Nondestructive 4-point bending, axial-bending, and torsion tests were conducted. After this, the end caps were inserted into the external tips of the nails and then screwed into the bone cortex. The mechanical tests were repeated. Stiffness, displacement, and torque were analyzed using the Wilcoxon nonparametric test for paired samples. Results: In the combined axial-bending tests, the TEN + CAP combination was 8.75% stiffer than nails alone (P < 0.01); in torsion tests, the TEN + CAP was 14% stiffer than nails alone (P < 0.01). In contrast, the 4-point bending test did not show differences between the methods (P = 0.91, stiffness; P = 0.51, displacement). Thus, the end caps contributed to an increase in the construct stability for torsion and axial-bending forces but not for 4-point bending forces. Conclusions: These findings indicate that end caps fitted to elastic nails may contribute to the stabilization of fractures that our model mimics (small distal fragment, bone comminution, and distal bone fragment loss).

Le scelte di investimento dei fondi pensioni italiani: un’analisi degli asset immobiliari

Il lavoro persegue l’obiettivo generale di indagare sulle scelte di investimento dei fondi pensione italiani. Per giungere al suddetto obiettivo il lavoro si articola in quattro capitoli principali corredati da premessa e conclusioni. Il primo capitolo si preoccupa di analizzare in quale modo le scelte operate dal legislatore italiano abbiano influenzato e influenzino le politiche di investimento dei fondi pensione. E’ indubbio, infatti, che l’intervento del legislatore abbia un forte ascendente sull’operatività dei fondi e possa limitarne o, viceversa, agevolarne l’attività. Alla luce di queste considerazioni, il secondo capitolo mira ad analizzare nel concreto l’influenza delle scelte operate dal legislatore sullo sviluppo del mercato dei fondi pensione italiani. In sostanza, l’obiettivo è quello di fornire informazioni circa il mercato italiano dei fondi pensione sviluppatosi in conseguenza alla normativa testé presentata. Il successivo capitolo, il terzo, propone un’analisi della letteratura che, nel contesto nazionale ed internazionale, ha analizzato la tematica dei fondi pensione. Più nel dettaglio, si propone una disamina dei riferimenti letterari che, affrontando il problema della gestione finanziaria dei fondi pensione, trattano delle politiche e delle scelte di investimento operate da questi. Il quarto capitolo riguarda un’analisi empirica mirata ad analizzare le politiche di investimento dei fondi pensione, in particolare quelle relative agli investimenti alternativi e soprattutto, tra questi, quelli immobiliari. L’obiettivo generale perseguito è quello di analizzare la composizione del patrimonio dei fondi appartenenti al campione considerato e ricavarne indicazioni circa le scelte manageriali operate dai fondi, nonché trarre indicazioni circa lo spazio riservato e/o riservabile alle asset class alternative, soprattutto a quelle di tipo immobiliare. Si evidenzia, infatti, che la verifica presentata riguarda prevalentemente gli investimenti immobiliari che rappresentano nella realtà italiana l’alternative class maggiormente diffusa. L’analisi si concentra, anche se in modo inferiore e con un approccio quasi esclusivamente qualitativo, su altre asset class alternative (hedge fund e private equity). Si precisa, inoltre, che la volontà di focalizzare la verifica sugli alternative investment limita l’analisi ai soli fondi pensione preesistenti che, ad oggi, rappresentano l’unica categoria alla quale è consentito effettuare investimenti di tipo alternativo. A differenza dei fondi di nuova generazione, tali fondi, infatti, non sono sottoposti a limitazioni nell’attività di investimento e, almeno in linea teorica, essi possono optare senza alcuna restrizione per l’asset allocation ritenuta più appropriata Tre sono le domande di ricerca a cui l’analisi proposta mira a dare risposta: Quale è la dimensione e la composizione del portafoglio dei fondi pensione preesistenti? Quale è la dimensione e la tipologia di investimento immobiliare all’interno del portafoglio dei fondi pensione preesistenti? Esiste uno “spazio” ulteriore per gli investimenti immobiliari e/o per altri alternative investment nel portafoglio dei fondi pensione preesistenti? L’analisi è condotta su un campione di dieci fondi preesistenti, che rappresenta il 60% dell’universo di riferimento (dei 29 fondi pensione preesistenti che investono in immobiliare) e la metodologia utilizzata è quella della case study. Le dieci case study, una per ogni fondo preesistente analizzato, sono condotte e presentate secondo uno schema quanto più standard e si basano su varie tipologie di informazioni reperite da tre differenti fonti. 2 La prima fonte informativa utilizzata è rappresentata dai bilanci o rendiconti annuali dei fondi analizzati. A questi si aggiungono i risultati di un’intervista svolta nei mesi di gennaio e febbraio 2008, ai direttori generali o ai direttori dell’area investimento dei fondi. Le interviste aggiungono informazioni prevalentemente di tipo qualitativo, in grado di descrivere le scelte manageriali operate dai fondi in tema di politica di investimento. Infine, laddove presente, sono state reperite informazioni anche dai siti internet che in taluni casi i fondi possiedono. Dalle case study condotte è possibile estrapolare una serie di risultati, che consentono di dare risposta alle tre domande di ricerca poste in precedenza. Relativamente alla prima domanda, è stato possibile stabilire che il portafoglio dei fondi pensione preesistenti analizzati cresce nel tempo. Esso si compone per almeno un terzo di titoli di debito, prevalentemente titoli di stato, e per un altro terzo di investimenti immobiliari di vario tipo. Il restante terzo è composto da altre asset class, prevalentemente investimenti in quote di OICR. Per quanto riguarda la politica d’investimento, si rileva che mediamente essa è caratterizzata da un’alta avversione al rischio e pochissimi sono i casi in cui i fondi prevedono linee di investimento aggressive. Relativamente alla seconda domanda, si osserva che la dimensione dell’asset class immobiliare all’interno del portafoglio raggiunge una quota decrescente nell’arco di tempo considerato, seppur rilevante. Al suo interno prevalgono nettamente gli investimenti diretti in immobili. Seguono le partecipazioni in società immobiliari. L’analisi ha permesso, poi, di approfondire il tema degli investimenti immobiliari consentendo di trarre indicazioni circa le loro caratteristiche. Infine, relativamente all’ultima domanda di ricerca, i dati ottenuti, soprattutto per mezzo delle interviste, permettono di stabilire che, almeno con riferimento al campione analizzato, l’investimento immobiliare perde quota e in parte interesse. Questo risulta vero soprattutto relativamente agli investimenti immobiliari di tipo diretto. I fondi con patrimoni immobiliari rilevanti, infatti, sono per la totalità nel mezzo di processi di dismissione degli asset, mirati, non tanto all’eliminazione dell’asset class, ma piuttosto ad una riduzione della stessa, conformemente anche a quanto richiesto dalle recenti normative. Le interviste hanno messo in luce, tuttavia, che a fronte di un’esigenza generale di contentere la quota investita, l’asset immobiliare è considerato positivamente soprattutto in termini di opportunità di diversificazione di portafoglio e buoni rendimenti nel lungo periodo. I fondi appaiono interessati in modo particolare a diversificare il portafoglio immobiliare, dismettendo parte degli asset detenuti direttamente e aumentando al contrario le altre tipologie di investimento immobiliare, soprattutto quote di OICR immobiliari. Altrettanto positivi i giudizi relativi alle altre asset class alternative. Pur restando ancora limitato il totale delle risorse destinate, tali investimenti sono percepiti come una buona opportunità di diversificazione del portafoglio. In generale, si è rilevato che, anche laddove l’investimento non è presente o è molto ridotto, nel breve periodo è intenzione del management aumentare la quota impiegata.

Il risk management tecnico nel trading di portafoglio

Il problema che si cerca di risolvere attraverso la gestione quantitativa del portafoglio è la riduzione del rischio tramite strategie che non dipendano dalla diversificazione dei titoli che compongono il portafoglio. Nel momento in cui si decide di applicare un trading system su un determinato gruppo di asset, il capitale non viene allocato automaticamente su tutti i titoli e si deve affrontare invece un continuo investimento tramite l’apertura dinamica di posizioni sul mercato.Questo significa che la diversificazione non è più una misura adeguata del rischio sostenuto poiché i rendimenti attesi dell’investimento non dipendono più dalle proprietà stesse degli strumenti scelti, ma dalla profittabilità dei segnali generati dalla logica del trading system su questi. Bisogna testare in questo caso le performance del sistema a livello statistico e prevedere anche, per esempio, che l’algoritmo possa generare dei segnali errati che portano a delle posizioni in perdita. Il portafoglio a livello quantitativo deve essere gestito tramite dei trading system che abbiano la possibilità di valutare aspetti globali, come il profitto totale di tutte le posizioni attualmente aperte, o l’intero rischio sostenuto dal capitale gestito. Le decisioni non vengono prese dall’analisi delle prestazioni individuali che la strategia ottiene operando sui singoli titoli. Per affrontare una possibile soluzione a questa problematica si sono quindi selezionati due trading system le cui prestazioni fossero robuste su un intero portafoglio e non solo su determinati titoli. In un successivo momento vengono analizzate le prestazioni del portafoglio aggiungendo ai test due ulteriori strategie di uscita: lo stoploss di portafoglio e il target di portafoglio. Nonostante esse ricalchino idee ampiamente utilizzate per la gestione delle singole posizioni su un titolo, per i test si è deciso di modificarle implementando la gestione globale del capitale all’interno del trading system di portafoglio.

The use of learning management systems: A Longitudinal Case Study

In this article the use of Learning Management Systems (LMS) at the School of Engineering, University of Borås, in the year 2004 and the academic year 2009-2010 is investigated. The tools in the LMS were classified into four groups (tools for distribution, tools for communication, tools for interaction and tools for course administration) and the pattern of use was analyzed. The preliminary interpretation of the results was discussed with a group of teachers from the School of Engineering with long experience of using LMS. High expectations about LMS as a tool to facilitate flexible education, student centered methods and the creation of an effective learning environment is abundant in the literature. This study, however, shows that in most of the surveyed courses the available LMS is predominantly used to distribute documents to students. The authors argue that a more elaborate use of LMS and a transformation of pedagogical practices towards social constructivist, learner centered procedures should be treated as an integrated process of professional development.

Socialism and intrafirm asset allocation

We rely on a survey of Swiss firms to document deviation from first-best for reasons of internal 'fairness' when allicating resources. This 'socialist' practice is more widespread in smaller than in larger firms. It ignores the reputation and past performance of the managers who apply for dunding, but takes into account their hierarchical position and their past use of resources. Socialism is only partially explained by concerns about empire building and managerial optimism, and it is not meant to benefit shareholders.

Management of children with autism spectrum disorder in the dental setting: concerns, behavioural approaches and recommendations

OBJECTIVES This article reviews the present literature on the issues encountered while coping with children with autistic spectrum disorder from the dental perspective. The autistic patient profile and external factors affecting the oral health status of this patient population are discussed upon the existing body of evidence. MATERIAL AND METHODS The MEDLINE database was searched using the terms 'Autistic Disorder', 'Behaviour Control/methods', 'Child', 'Dental care for disabled', 'Education', 'Oral Health', and 'Pediatric Dentistry' to locate related articles published up to January 2013. RESULTS Most of the relevant studies indicate poor oral hygiene whereas they are inconclusive regarding the caries incidence in autistic individuals. Undergraduate dental education appears to determine the competence of dental professionals to treat developmentally disabled children and account partly for compromised access to dental care. Dental management of an autistic child requires in-depth understanding of the background of the autism and available behavioural guidance theories. The dental professional should be flexible to modify the treatment approach according to the individual patient needs.

Energy-Efficient Management Of Heterogeneous Wireless Sensor Networks

Various applications for the purposes of event detection, localization, and monitoring can benefit from the use of wireless sensor networks (WSNs). Wireless sensor networks are generally easy to deploy, with flexible topology and can support diversity of tasks thanks to the large variety of sensors that can be attached to the wireless sensor nodes. To guarantee the efficient operation of such a heterogeneous wireless sensor networks during its lifetime an appropriate management is necessary. Typically, there are three management tasks, namely monitoring, (re) configuration, and code updating. On the one hand, status information, such as battery state and node connectivity, of both the wireless sensor network and the sensor nodes has to be monitored. And on the other hand, sensor nodes have to be (re)configured, e.g., setting the sensing interval. Most importantly, new applications have to be deployed as well as bug fixes have to be applied during the network lifetime. All management tasks have to be performed in a reliable, time- and energy-efficient manner. The ability to disseminate data from one sender to multiple receivers in a reliable, time- and energy-efficient manner is critical for the execution of the management tasks, especially for code updating. Using multicast communication in wireless sensor networks is an efficient way to handle such traffic pattern. Due to the nature of code updates a multicast protocol has to support bulky traffic and endto-end reliability. Further, the limited resources of wireless sensor nodes demand an energy-efficient operation of the multicast protocol. Current data dissemination schemes do not fulfil all of the above requirements. In order to close the gap, we designed the Sensor Node Overlay Multicast (SNOMC) protocol such that to support a reliable, time-efficient and energy-efficient dissemination of data from one sender node to multiple receivers. In contrast to other multicast transport protocols, which do not support reliability mechanisms, SNOMC supports end-to-end reliability using a NACK-based reliability mechanism. The mechanism is simple and easy to implement and can significantly reduce the number of transmissions. It is complemented by a data acknowledgement after successful reception of all data fragments by the receiver nodes. In SNOMC three different caching strategies are integrated for an efficient handling of necessary retransmissions, namely, caching on each intermediate node, caching on branching nodes, or caching only on the sender node. Moreover, an option was included to pro-actively request missing fragments. SNOMC was evaluated both in the OMNeT++ simulator and in our in-house real-world testbed and compared to a number of common data dissemination protocols, such as Flooding, MPR, TinyCubus, PSFQ, and both UDP and TCP. The results showed that SNOMC outperforms the selected protocols in terms of transmission time, number of transmitted packets, and energy-consumption. Moreover, we showed that SNOMC performs well with different underlying MAC protocols, which support different levels of reliability and energy-efficiency. Thus, SNOMC can offer a robust, high-performing solution for the efficient distribution of code updates and management information in a wireless sensor network. To address the three management tasks, in this thesis we developed the Management Architecture for Wireless Sensor Networks (MARWIS). MARWIS is specifically designed for the management of heterogeneous wireless sensor networks. A distinguished feature of its design is the use of wireless mesh nodes as backbone, which enables diverse communication platforms and offloading functionality from the sensor nodes to the mesh nodes. This hierarchical architecture allows for efficient operation of the management tasks, due to the organisation of the sensor nodes into small sub-networks each managed by a mesh node. Furthermore, we developed a intuitive -based graphical user interface, which allows non-expert users to easily perform management tasks in the network. In contrast to other management frameworks, such as Mate, MANNA, TinyCubus, or code dissemination protocols, such as Impala, Trickle, and Deluge, MARWIS offers an integrated solution monitoring, configuration and code updating of sensor nodes. Integration of SNOMC into MARWIS further increases performance efficiency of the management tasks. To our knowledge, our approach is the first one, which offers a combination of a management architecture with an efficient overlay multicast transport protocol. This combination of SNOMC and MARWIS supports reliably, time- and energy-efficient operation of a heterogeneous wireless sensor network.

Impacts of out-migration on land management in mountain areas

INTRODUCTION Out-migration from mountain areas is leaving behind half families and elderly to deal with managing the land alongside daily life challenges. A potential reduction of labour force as well as expertise on cropping practices, maintenance of terraces and irrigation canals, slope stabilization, grazing, forest and other land management practices are further challenged by changing climate conditions and increased environmental threats. An understanding of the resilience of managed land resources in order to enhance adaptation to environmental and socio-economic variability, and evidence of the impact of Sustainable Land Management (SLM) on the mitigation of environmental threats have so far not sufficiently been tackled. The study presented here aims to find out how land management in mountains is being affected by migration in the context of natural hazards and climate change in two study sites, namely Quillacollo District of Bolivia and Panchase area of Western Nepal, and which measures are needed to increase resilience of livelihoods and land management practices. The presentation includes draft results from first field work periods in both sites. A context of high vulnerability According to UNISDR, vulnerability is defined as “the characteristics and circumstances of a community, system or asset that make it susceptible to the damaging effects of a hazard”.Hazards are another threat affecting people’s livelihood in mountainous area. They can be either natural or human induced. Landslides, debris flow and flood are affecting peopleGood land management can significantly reduce occurrence of hazards. In the opposite bad land management or land abandonment can lead to negative consequences on the land, and thus again increase vulnerability of people’s livelihoods. METHODS The study integrates bio-physical and socio-economic data through a case study as well as a mapping approach. From the social sciences, well-tested participatory qualitative methodologies, typically used in Vulnerability and Capacity Analyses, such as semi-structured interviews with so-called ‘key informants’, transect walks, participatory risk and social resource mapping are applied. The bio-physical analysis of the current environmental conditions determining hazards and structural vulnerability are obtained from remote sensing analysis, field work studies, and GIS analysis The assessment of the consequences of migration in the area of origin is linked with a mapping and appraisal of land management practices (www.wocat.net, Schwilch et al., 2011). The WOCAT mapping tool (WOCAT/LADA/DESIRE 2008) allows capturing the major land management practices / technologies, their spread, effectiveness and impact within a selected area. Data drawn from a variety of sources are compiled and harmonised by a team of experts, consisting of land degradation and conservation specialists working in consultation with land users from various backgrounds. The specialists’ and land users’ knowledge is combined with existing datasets and documents (maps, GIS layers, high-resolution satellite images, etc.) in workshops that are designed to build consensus regarding the variables used to assess land degradation and SLM. This process is also referred to as participatory expert assessment or consensus mapping. The WOCAT mapping and SLM documentation methodologies are used together with participatory mapping and other socio-economic data collection (interviews, questionnaires, focus group discussions, expert consultation) to combine information about migration types and land management issues. GIS and other spatial visualization tools (e.g. Google maps) will help to represent and understand these links. FIRST RESULTS Nepal In Nepal, migration is a common strategy to improve the livelihoods. Migrants are mostly men and they migrate to other Asian countries, first to India and then to the Gulf countries. Only a few women are migrating abroad. Women migrate essentially to main Nepali cities when they can afford it. Remittances are used primarily for food and education; however they are hardly used for agricultural purposes. Besides traditional agriculture being maintained, only few new practices are emerging, such as vegetable farming or agroforestry. The land abandonment is a growing consequence of outmigration, resulting in the spreading of invasive species. However, most impacts of migration on land management are not yet clear. Moreover, education is a major concern for the respondents; they want their children having a better education and get better opportunities. Linked to this, unemployment is another major concern of the respondents, which in turn is “solved” through outmigration. Bolivia Migration is a common livelihood strategy in Bolivia. In the area of study, whole families are migrating downward to the cities of the valleys or to other departments of Bolivia, especially to Chapare (tropics) for the coca production and to Santa Cruz. Some young people are migrating abroad, mostly to Argentina. There are few remittances and if those are sent to the families in the mountain areas, then they are mainly used for agriculture purpose. The impacts of migration on land management practices are not clear although there are some important aspects to be underlined. The people who move downward are still using their land and coming back during part of the week to work on it. As a consequence of this multi-residency, there is a tendency to reduce land management work or to change the way the land is used. As in Nepal, education is a very important issue in this area. There is no secondary school, and only one community has a primary school. After the 6th grade students have therefore to go down into the valley towns to study. The lack of basic education is pushing more and more people to move down and to leave the mountains. CONCLUSIONS This study is on-going, more data have to be collected to clearly assess the impacts of out-migration on land management in mountain areas. The first results of the study allow us to present a few interesting findings. The two case studies are very different, however in both areas, young people are not staying anymore in the mountains and leave behind half families and elderly to manage the land. Additionally in both cases education is a major reason for moving out, even though the causes are not always the same. More specifically, in the case of Nepal, the use of remittances underlines the fact that investment in agriculture is not the first choice of a family. In the case of Bolivia, some interesting findings showed that people continue to work on their lands even if they move downward. The further steps of the study will help to explore these interesting issues in more detail. REFERENCES Schwilch G., Bestelmeyer B., Bunning S., Critchley W., Herrick J., Kellner K., Liniger H.P., Nachtergaele F., Ritsema C.J., Schuster B., Tabo R., van Lynden G., Winslow M. 2011. Experiences in Monitoring and Assessment of Sustainable Land Management. Land Degradation & Development 22 (2), 214-225. Doi 10.1002/ldr.1040 WOCAT/LADA/DESIRE 2008. A Questionnaire for Mapping Land Degradation and Sustainable Land Management. Liniger H.P., van Lynden G., Nachtergaele F., Schwilch G. (eds), Centre for Development and Environment, Institute of Geography, University of Berne, Berne

The Evolution of Routines under flexible Information Technology

Many technological developments of the past two decades come with the promise of greater IT flexi-bility, i.e. greater capacity to adapt IT. These technologies are increasingly used to improve organiza-tional routines that are not affected by large, hard-to-change IT such as ERP. Yet, most findings on the interaction of routines and IT stem from contexts where IT is hard to change. Our research ex-plores how routines and IT co-evolve when IT is flexible. We review the literatures on routines to sug-gest that IT may act as a boundary object that mediates the learning process unfolding between the ostensive and the performative aspect of the routine. Although prior work has concluded from such conceptualizations that IT stabilizes routines, we qualify that flexible IT can also stimulate change because it enables learning in short feedback cycles. We suggest that, however, such change might not always materialize because it is contingent on governance choices and technical knowledge. We de-scribe the case-study method to explore how routines and flexible IT co-evolve and how governance and technical knowledge influence this process. We expect to contribute towards stronger theory of routines and to develop recommendations for the effective implementation of flexible IT in loosely coupled routines.

A note on the selection of priority rules in software packages for project management

Various software packages for project management include a procedure for resource-constrained scheduling. In several packages, the user can influence this procedure by selecting a priority rule. However, the resource-allocation methods that are implemented in the procedures are proprietary information; therefore, the question of how the priority-rule selection impacts the performance of the procedures arises. We experimentally evaluate the resource-allocation methods of eight recent software packages using the 600 instances of the PSPLIB J120 test set. The results of our analysis indicate that applying the default rule tends to outperform a randomly selected rule, whereas applying two randomly selected rules tends to outperform the default rule. Applying a small set of more than two rules further improves the project durations considerably. However, a large number of rules must be applied to obtain the best possible project durations.

The Impact of Human Asset Specificity on the Sourcing of Application Services

The question concerning the circumstances under which it is advantageous for a company to outsource certain information systems functions has been a controversial issue for the last decade. While opponents emphasize the risks of outsourcing based on the loss of strategic potentials and increased transaction costs, proponents emphasize the strategic benefits of outsourcing and high potentials of cost-savings. This paper brings together both views by examining the conditions under which both the strategic potentials as well as savings in production and transaction costs of developing and maintaining software applications can better be achieved in-house as opposed to by an external vendor. We develop a theoretical framework from three complementary theories and test it empirically based on a mail survey of 139 German companies. The results show that insourcing is more cost efficient and advantageous in creating strategic benefits through IS if the provision of application services requires a high amount of firm specific human assets. These relationships, however, are partially moderated by differences in the trustworthiness and intrinsic motivation of internal versus external IS professionals. Moreover, capital shares with an external vendor can lower the risk of high transaction costs as well the risk of loosing the strategic opportunities of an IS.

The Effects of Credit Risk on Dynamic Portfolio Management: A New Computational Approach

The study investigates the role of credit risk in a continuous time stochastic asset allocation model, since the traditional dynamic framework does not provide credit risk flexibility. The general model of the study extends the traditional dynamic efficiency framework by explicitly deriving the optimal value function for the infinite horizon stochastic control problem via a weighted volatility measure of market and credit risk. The model's optimal strategy was then compared to that obtained from a benchmark Markowitz-type dynamic optimization framework to determine which specification adequately reflects the optimal terminal investment returns and strategy under credit and market risks. The paper shows that an investor's optimal terminal return is lower than typically indicated under the traditional mean-variance framework during periods of elevated credit risk. Hence I conclude that, while the traditional dynamic mean-variance approach may indicate the ideal, in the presence of credit-risk it does not accurately reflect the observed optimal returns, terminal wealth and portfolio selection strategies.

Governance Structure Choices in Supply Chain Management Evidence from Spanish and Chinese Pork Chain Cases

The author participated in the 6 th EU Framework Project ―Q-pork Chains (FP6-036245-2)‖ from 2007 to 2009. With understanding of work reports from China and other countries, it is found that compared with other countries, China has great problems in pork quality and safety. By comparing the pork chain management between China and Spain, It is found that the difference in governance structure is one of the main differences in pork chain management between Spain and China. In China, spot-market relationship still dominates governance structure of pork chain, especially between the numerous house-hold pig holders and the great number of small slaughters. While in Spain, chain agents commonly apply cooperatives or integrations to cooperate. It also has been proven by recent studies, that in quality management at the chain level that supply chain integration has a direct effect on quality management practices (Han, 2010). Therefore, the author started to investigate the governance structure choices in supply chain management. And it has been set as the first research objective, which is to explain the governance structure choices process and the influencing factors in supply chain management, analyzing the pork chains cases in Spain and in China. During the further investigation, the author noticed the international trade of pork between Spain and China is not smooth since the signature of bi-lateral agreement on pork trade in 2007. Thus, another objective of the research is to find and solve the problems exist in the international pork chain between Spain and China. For the first objective, to explain the governance structure choices in supply chain management, the thesis conducts research in three main sections. 10 First of all, the thesis gives a literature overview in chapter two on Supply Chain Management (SCM), agri-food chain management and pork chain management. It concludes that SCM is a systems approach to view the supply chains as a whole, and to manage the total flow of goods inventory from the supplier to the ultimate customer. It includes the bi-directional flow of products (materials and services) and information, and the associated managerial and operational activities. And it also is a customer focus to create unique and individual source of customer value with an appropriate use of resources, leading to customer satisfaction and building competitive chain advantages. Agri-food chain management and pork chain management are applications of SCM in agri-food sector and pork sector respectively. Then, the research gives a comparative study in chapter three in the pork chain and pork chain management between Spain and China. Many differences are found, while the main difference is governance structure in pork chain management. Furthermore, the author gives an empirical study on governance structure choice in chapter five. It is concluded that governance structure of supply chain consists of a collection of rules/institutions/constraints structuring the transactions between the various stakeholders. Based on the overview on literatures closely related with governance structure, such as transaction cost economics, transaction value analysis and resource-based view theories, seven hypotheses are proposed, which are: Hypothesis 1: Transaction cost has positive relationship with governance structure choice Hypothesis 2: Uncertainty has positive relationship with transaction cost; higher uncertainty exerts high transaction cost Hypothesis 3: The relationship between asset specificity and transaction cost is positive Hypothesis 4: Collaboration advantages and governance structure choice have positive relationship11 Hypothesis 5: Willingness to collaborate has positive relationship with collaboration advantages Hypothesis 6: Capability to collaborate has positive relationship with collaboration advantages Hypothesis 7: Uncertainty has negative effect on collaboration advantages It is noted that as transaction cost value is negative, the transaction cost mentioned in the hypotheses is its absolute value. To test the seven hypotheses, Structural Equation Model (SEM) is applied and data collected from 350 pork slaughtering and processing companies in Jiangsu, Shandong and Henan Provinces in China is used. Based on the empirical SEM model and its results, the seven hypotheses are proved. The author generates several conclusions accordingly. It is found that the governance structure choice of the chain not only depends on transaction cost, it also depends on collaboration advantages. Exchange partners establish more stable and more intense relationship to reduce transaction cost and to maximize collaboration advantages. ―Collaboration advantages‖ in this thesis is defined as the joint value achieved through transaction (mutual activities) of agents in supply chains. This value forms as improvements, mainly in mutual logistics systems, cash response, information exchange, technological improvements and innovative improvements and quality management improvements, etc. Governance structure choice is jointly decided by transaction cost and collaboration advantages. Chain agents take different governance structures to coordinate in order to decrease their transaction cost and to increase their collaboration advantages. In China´s pork chain case, spot market relationship dominates the governance structure among the numerous backyard pig farmer and small family slaughterhouse 12 as they are connected by acquaintance relationship and the transaction cost in turn is low. Their relationship is reliable as they know each other in the neighborhood; as a result, spot market relationship is suitable for their exchange. However, the transaction between large-scale slaughtering and processing industries and small-scale pig producers is becoming difficult. The information hold back behavior and hold-up behavior of small-scale pig producers increase transaction cost between them and large-scale slaughtering and processing industries. Thus, through the more intense and stable relationship between processing industries and pig producers, processing industries reduce the transaction cost and improve the collaboration advantages with their chain partners, in which quality and safety collaboration advantages be increased, meaning that processing industries are able to provide consumers products with better quality and higher safety. It is also drawn that transaction cost is influenced mainly by uncertainty and asset specificity, which is in line with new institutional economics theories developed by Williamson O. E. In China´s pork chain case, behavioral uncertainty is created by the hold-up behaviors of great numbers of small pig producers, while big slaughtering and processing industries having strong asset specificity. On the other hand, ―collaboration advantages‖ is influenced by chain agents´ willingness to collaborate and chain agents´ capabilities to cooperate. With the fast growth of big scale slaughtering and processing industries, they are more willing to know and make effort to cooperate with their chain members, and they are more capable to create joint value together with other chain agents. Therefore, they are now the main chain agents who drive more intense and stable governance structure in China‘s pork chain. For the other objective, to find and solve the problems in the international pork chain between Spain and China, the research gives an analysis in chapter four on the 13 international pork chain. This study gives explanations why the international trade of pork between Spain and China is not sufficient from the chain perspective. It is found that the first obstacle is the high quality and safety requirement set by Chinese government. It makes the Spanish companies difficult to get authorities to export. Other aspects, such as Spanish pork is not competitive in price compared with other countries such as Denmark, United States, Canada, etc., Chinese consumers do not have sufficient information on Spanish pork products, are also important reasons that Spain does not export great quantity of pork products to China. It is concluded that China´s government has too much concern on the quality and safety requirements to Spanish pork products, which makes trade difficult to complete. The two countries need to establish a more stable and intense trade relationship. They also should make the information exchange sufficient and efficient and try to break trade barriers. Spanish companies should consider proper price strategies to win the Chinese pork market

Challenges for the comprehensive management of cloud services in a PaaS framework

The 4CaaSt project aims at developing a PaaS framework that enables flexible definition, marketing, deployment and management of Cloud-based services and applications. The major innovations proposed by 4CaaSt are the blueprint and its lifecycle management, a one stop shop for Cloud services and a PaaS level resource management featuring elasticity. 4CaaSt also provides a portfolio of ready to use Cloud native services and Cloud-aware immigrant technologies.