Financial integration and TARGET2-Securities – A stakeholder approach

The purpose of this study was to analyze how different stakeholders, such as the European Central Bank, the European Commission, the European Central Securities Depositories Association, the Bank of International Settlements and the International Monetary Fund, have influenced the European financial integration in the area of securities clearing and settlement since the introduction of the single currency. The results show that the contribution differs from stakeholder to another and can take the form of standards and recommendations, legislation, research and publications, risk analysis etc. The Eurosystem has been particularly active in this area by proving and planning central bank services, such as TARGET2, CCMB2 and T2S. Along the way the development has and continues to face challenges that need to be solved by European authorities. Coordination is a key factor for the future as we have seen during the recent financial turmoil.

Choosing the optimal energy system for buildings and districts

The purpose of this master’s thesis was to develop a method to be used in the selection of an optimal energy system for buildings and districts. The term optimal energy system was defined as the energy system which best fulfils the requirements of the stakeholder on whose preferences the energy systems are evaluated. The most influential stakeholder in the process of selecting an energy system was considered to be the district developer. The selection method consisted of several steps: Definition of the district, calculating the energy consumption of the district and buildings within the district, defining suitable energy system alternatives for the district, definition of the comparing criteria, calculating the parameters of the comparing criteria for each energy system alternative and finally using a multi-criteria decision method to rank the alternatives. For the purposes of the selection method, the factors affecting the energy consumption of buildings and districts and technologies enabling the use of renewable energy were reviewed. The key element of the selection method was a multi-criteria decision making method, PROMETHEE II. In order to compare the energy system alternatives with the developed method, the comparing criteria were defined in the study. The criteria included costs, environmental impacts and technological and technical characteristics of the energy systems. Each criterion was given an importance, based on a questionnaire which was sent for the steering groups of two district development projects. The selection method was applied in two case study analyses. The results indicate that the selection method provides a viable and easy way to provide the decision makers alternatives and recommendations regarding the selection of an energy system. Since the comparison is carried out by changing the alternatives into numeric form, the presented selection method was found to exclude any unjustified preferences over certain energy systems alternatives which would affect the selection.

Stock Price Reactions on M&A, Dividends and Game Releases. Evidence from Gaming Industry.

A rapidly growing gaming industry, which specializes on PC, console, online and other games, attracts attention of investors and analysts, who try to understand what drives changes of the gaming industry companies’ stock prices. This master thesis shows the evidence that, besides long-established types of events (M&A and dividend payments), the companies’ stock price changes depend on industry-specific events. I analyzed specific for gaming industry events - game releases with respect to its subdivisions: new games-sequels, games ratings and subdivision according to a developer of a game (self-developed by publisher or outsourced). The master thesis analyzes stock prices of 55 companies from gaming industry from all over the world. The research period covers 5 year, spreading from April 2008 to April 2013. Executed with an event study method, results of the research show that all the analyzed events types have significant influence on the stock prices of the gaming industry companies. The current master thesis suggests that acquisitions in the industry affect positively bidders’ and targets’ stock prices. Mergers events cause positive stock price reactions as well. But dividends payments and game releases events influence negatively on the stock prices. Game releases’ effect is up to -2.2% of cumulative average abnormal return (CAAR) drop during the first ten days after the game releases. Having researched different kinds of events and identified the direction of their impact, the current paper can be of high value for investors, seeking profits in the gaming industry, and other interested parties.

Backpacker 2.0 - Contemporary backpackers and their use of social media as an information and communication platform

Long-term independent budget travel to countries far away has become increasingly common over the last few decades, and backpacking has now entered the tourism mainstream. Nowadays, backpackers are a very important segment of the global travel market. Backpacking is a type of tourism that involves a lot of information search activities. The Internet has become a major source of information as well as a platform for tourism business transactions. It allows travelers to gain information very effortlessly and to learn about tourist destinations and products directly from other travelers in the form of electronic word-of-mouth (eWOM). Social media has penetrated and changed the backpacker market, as now modern travelers can stay connected to people at home, read online recommendations, and organize and book their trips very independently. In order to create a wider understanding on modern-day backpackers and their information search and share behavior in the Web 2.0 era, this thesis examined contemporary backpackers and their use of social media as an information and communication platform. In order to achieve this goal, three sub-objectives were identified: 1. to describe contemporary backpacker tourism 2. to examine contemporary backpackers’ travel information search and share behavior 3. to explore the impacts of new information and communications technologies and Web 2.0 on backpacker tourism The empirical data was gathered with an online survey, thus the method of analysis was mainly quantitative, and a qualitative method was used for a brief analysis of open questions. The research included both descriptive and analytical approaches, as the goal was to describe modern-day backpackers, and to examine possible interdependencies between information search and share behavior and background variables. The interdependencies were tested for statistical significance with the help of five research hypotheses. The results suggested that backpackers no longer fall under the original backpacker definitions described some decades ago. Now, they are mainly short-term travelers, whose trips resemble more those of mainstream tourists. They use communication technologies very actively, and particularly social media. Traditional information sources, mainly guide books and recommendations from friends, are of great importance to them but also eWOM sources are widely used in travel decision making. The use of each source varies according to the stage of the trip. All in all, Web 2.0 and new ICTs have transformed the backpacker tourism industry in many ways. Although the experience has become less authentic in some travelers’ eyes, the backpacker culture is still recognizable.

Belt conveyor energy efficiency analysis and energy model development

An energy model of a belt conveyor was designed. Operation of a belt conveyor was researched. Operational indexes were calculated. Energy optimization process and recommendations were presented.

Distribution network design and optimization

The objective of this thesis is to examine distribution network designs and modeling practices and create a framework to identify best possible distribution network structure for the case company. The main research question therefore is: How to optimize case company’s distribution network in terms of customer needs and costs? Theory chapters introduce the basic building blocks of the distribution network design and needed calculation methods and models. Framework for the distribution network projects was created based on the theory and the case study was carried out by following the defined framework. Distribution network calculations were based on the company’s sales plan for the years 2014 - 2020. Main conclusions and recommendations were that the new Asian business strategy requires high investments in logistics and the first step is to open new satellite DC in China as soon as possible to support sales and second possible step is to open regional DC in Asia within 2 - 4 years.

A Web-Based Environmental Toolkit to Support Small and Medium-Sized Enterprises in the Implementation of Their Own Environmental Management System

With small and medium sized-enterprises (SMEs) taking up the majority of the global businesses, it is important they act in an environmentally responsible manner. Environmental management systems (EMS) help companies evaluate and improve their environmental impact but they often require human, financial, and temporary resources that not all SMEs can provide. This research encompasses interviews with representatives of two small enterprises in Germany to provide insights into their understanding, and knowledge of an EMS and how they perceive their responsibility towards the environment. Furthermore, it presents a toolkit created especially for small and medium-sized enterprises that serves as a simplified version of an EMS based on the ISO 14001 standard and is evaluated by the representatives of the SMEs. Some of the findings are: while being open to the idea of improving their environmental impact, SMEs do not always feel it is their responsibility to do so; they seem to lack the means to fully implement an EMS. The developed toolkit is considered useful and usable and recommendations are drawn for its future enhancement.

Effect of loading type on the fatigue strength of symmetric and asymmetric welded joints made of ultra high strength steel

In this study, finite element analyses and experimental tests are carried out in order to investigate the effect of loading type and symmetry on the fatigue strength of three different non-load carrying welded joints. The current codes and recommendations do not give explicit instructions how to consider degree of bending in loading and the effect of symmetry in the fatigue assessment of welded joints. The fatigue assessment is done by using effective notch stress method and linear elastic fracture mechanics. Transverse attachment and cover plate joints are analyzed by using 2D plane strain element models in FEMAP/NxNastran and Franc2D software and longitudinal gusset case is analyzed by using solid element models in Abaqus and Abaqus/XFEM software. By means of the evaluated effective notch stress range and stress intensity factor range, the nominal fatigue strength is assessed. Experimental tests consist of the fatigue tests of transverse attachment joints with total amount of 12 specimens. In the tests, the effect of both loading type and symmetry on the fatigue strength is studied. Finite element analyses showed that the fatigue strength of asymmetric joint is higher in tensile loading and the fatigue strength of symmetric joint is higher in bending loading in terms of nominal and hot spot stress methods. Linear elastic fracture mechanics indicated that bending reduces stress intensity factors when the crack size is relatively large since the normal stress decreases at the crack tip due to the stress gradient. Under tensile loading, experimental tests corresponded with finite element analyzes. Still, the fatigue tested joints subjected to bending showed the bending increased the fatigue strength of non-load carrying welded joints and the fatigue test results did not fully agree with the fatigue assessment. According to the results, it can be concluded that in tensile loading, the symmetry of joint distinctly affects on the fatigue strength. The fatigue life assessment of bending loaded joints is challenging since it depends on whether the crack initiation or propagation is predominant.

Modularity in Health and Social Services: Perspectives on Organization and Management

Organizations that provide health and social services operate in a complex and constantly changing environment. Changes occur, for example, in ageing, technology and biotechnology, and customers’ expectations, as well as the global economic situation. Organizations typically aim to adapt the changes by introducing new organizational structures and managerial practices, such as process and lean management. Only recently has there been an interest in evaluating whether organizations providing health and social services could apply modularity in order to respond to some of the changes. The concept of modularity originates from manufacturing, but is applied in many other disciplines, such as information technology and logistics. However, thus far, the literature concerning modularity in health and social services is scarce. Therefore the purpose of this thesis is to increase understanding concerning modularity and the possibilities to apply modularity in the health and social services context. In addition, the purpose is to shed light on the viewpoints that are worth taking into account when considering the application of modularity in the health and social services context. The aim of the thesis is to analyze the way in which the modular structures are applied in the health and social services context and to analyze what advantages and possible barriers, as well as managerial concerns, might occur if modularity is applied in the health and social services context. The thesis is conducted by using multiple methods in order to provide a broad aspect to the topic. A systematic literature review provided solid ground for pre-understanding the topic and supported the formulation of the research questions. Theoretical reasoning provided a general overview of the special characteristics of the health and social services context and their effect on application of modularity. Empirical studies concentrated on managerial concerns of modularity particularly from the perspective of health and social services for the elderly. Results of the thesis reveal that structures in products, services, processes, and organizations are rather modular in health and social services. They can be decomposed in small independent units, while the challenges seem to occur especially in the compatibility of the services. It seems that health and social services managers have recognized this problem and they are increasingly paying attention to this challenge in order to enhance the flexible compatibility of services. Advantages and possible barriers of modularity are explored in this thesis, and from the theoretical perspective it could be argued that modularity seems to be beneficial in the context of health and social services. In fact, it has the potential to alleviate several of the challenges that the health and social services context is confronting. For example, modular structures could support organizations in their challenging task to respond to customers’ increasing demand for heterogeneous services. However, special characteristics of the health and social services context create barriers and provide significant challenges in application of modularity. For example, asymmetry of information, negative externalities, uncertainty of demand, and rigid regulation prevent managers from extensively drawing benefits from modularity. Results also reveal that modularity has managerial implications in health and social service. Modularity has the potential to promote and support new service development and outsourcing. Results also provide insights into network management and increases managerial understanding of different network management strategies. Standardization in health and social services is extensive due to legislation and recommendations. Modularity provides alternative paths to take an advantage of standardization while still ensuring the quality of the services. Based on this thesis, it can be concluded, both from a theoretical perspective and from empirical results concerning modularity in health and social services, that modularity might fit well and be beneficial. However, the special characteristics of the health and social services context prevent some of the benefits of modularity and complicate its application. This thesis contributes to the academic literature on the organization and management of health and social services by describing modularity as an alternative way for organizing and managing health and social services. In addition, it contributes to the literature of modularity by exploring the applicability of modularity in the context of health and social services. It also provides practical contribution to health and social services managers by evaluating the pros and cons of modularity when applied to health and social services.

Grade nine teachers' perception of how teachers, parents, peers, administrators, and community members affect the development of the grade nine student /

The purpose of this study was to examine grade nine teachers' perception of how teachers, parents, peers, administrators, and community members influence the overall development of grade nine students. Ten grade nine teachers (four male and six female) participated in the study which consisted of the completion of a one hour, tape-recorded interview. The central findings were as follows: 1) the grade nine student has evolved; 2) peers have an important impact on the four developmental areas (physical, emotional, social, and academic) of the grade nine student; and 3) the role of the grade nine teacher appears to have dramatically changed over the last seventeen years. Suggestions and recommendations for future research in this field are based on findings related to the enhancement of the secondary school experience for the grade nine adolescent.

Moral identity, youth engagement, and discussions with parents and peers /

The strength of adolescents' moral identity was examined in relation to their sense of social responsibility, frequency of community engagement, and interactions with parents and friends. Participants were 191 applicants to national youth conferences, ranging in age from 14-19, who completed a 40-minute survey. 76% of the participants were female. Social responsibility, community engagement, and discussion with parents and friends were measured using self-report questionnaires. Participants also reported on the importance of various values to themselves, their parents, and their friends, which were used to create an index of the degree of disagreement between the youth and their parents and friends. In addition, participants provided self-descriptions, which were used to measure moral identity with both a coding scheme and a ratings measure. Moral identity as measured by coding was not related to social responsibility, community engagement, or any other study variables, and thus did not appear to be a valid measure of moral identity. However, moral identity as measured by ratings was related to both social responsibility and community engagement, and thus appeared to be a valid measure. Neither disagreement nor discussion with friends was related to moral identity. However, disagreement with parents was positively related to moral identity ratings, and for girls only was negatively related to social responsibility. Furthermore, discussion with parents was positively related to moral identity for boys only. The hypothesis predicting a mediational model was not supported. Results were discussed in terms of theoretical positions on the role of parents and friends in children's moral development and suggestions for ftiture research were made.

Sensitivity to differences between posed and genuine facial expressions : are children easily fooled? /

Adults and children can discriminate various emotional expressions, although there is limited research on sensitivity to the differences between posed and genuine expressions. Adults have shown implicit sensitivity to the difference between posed and genuine happy smiles in that they evaluate T-shirts paired with genuine smiles more favorably than T-shirts paired with posed smiles or neutral expressions (Peace, Miles, & Johnston, 2006). Adults also have shown some explicit sensitivity to posed versus genuine expressions; they are more likely to say that a model i?,feeling happy if the expression is genuine than posed. Nonetheless they are duped by posed expressions about 50% of the time (Miles, & Johnston, in press). There has been no published study to date in which researchers report whether children's evaluation of items varies with expression and there is little research investigating children's sensitivity to the veracity of facial expressions. In the present study the same face stimuli were used as in two previous studies (Miles & Johnston, in press; Peace et al., 2006). The first question to be addressed was whether adults and 7-year-olds have a cognitive understanding of the differences between posed and genuine happiness {scenario task). They evaluated the feelings of children who expressed gratitude for a present that they did or did not want. Results indicated that all participants had a fundamental understanding of the difference between real and posed happiness. The second question involved adults' and children's implicit sensitivity to the veracity of posed and genuine smiles. Participants rated and ranked beach balls paired with faces showing posed smiles, genuine smiles, and neutral expressions. Adults ranked.but did not rate beach balls paired with genuine smiles more favorably than beach balls paired with posed smiles. Children did not demonstrate implicit sensitivity as their ratings and rankings of beach balls did not vary with expressions; they did not even rank beach balls paired with genuine expressions higher than beach balls paired with neutral expressions. In the explicit (show/feel) task, faces were presented without the beach balls and participants were first asked whether each face was showing happy and then whether each face wasfeeling happy. There were also two matching trials that presented two faces at once; participants had to indicate which person was actuallyfeeling happy. In the show condition both adults and 7-year-olds were very accurate on genuine and neutral expressions but made some errors on posed smiles. Adults were fooled about 50% of the time by posed smiles in thefeel condition (i.e., they were likely to say that a model posing happy was really feeling happy) and children were even less accurate, although they showed weak sensitivity to posed versus genuine expressions. Future research should test an older age group of children to determine when explicit sensitivity to posed versus genuine facial expressions becomes adult-like and modify the ranking task to explore the influence of facial expressions on object evaluations.

Legal education in crisis: healing and humanizing Canadian law schools /

Western law schools are suffering from an identity and moral crisis. Many of the legal profession's problems can be traced to the law school environment, where students are taught to reason and practice in ways that are often at odds with their own personalities and values and even with generally accepted psychologically healthy practices. The idealism, ethic of care, and personal moral compasses of many students become eroded and even lost in the present legal education system. Formalism, rationalism, elitism, and big business values have become paramount. In such a moment of historical crisis, there exists the opportunity to create a new legal education story. This paper is a conceptual study of both my own Canadian legal education and the general legal education experience. It examines core problems and critiques of the existing Western legal education organizational and pedagogical paradigm to which Canadian law schools adhere. New approaches with the potential to enrich, humanize, and heal the Canadian law school experience are explored. Ultimately, the paper proposes a legal education system that is more interdisciplinary, theoretically and practically integrated, emotionally intelligent, technologically connected, morally accountable, spiritual, and humane. Specific pedagogical and curricular strategies are suggested, and recommendations for the future are offered. The dehumanizing aspects of the law school experience in Canada have rarely been studied. It is hoped that this thesis will fill a gap in the research and provide some insight into an issue that is of both academic and public importance, since the well-being of law students and lawyers affects the interests of their clients, the general public, and the integrity and future of the entire legal system.

Openness and privacy in Ontario: an evaluation of the implementation of FIPPA : (The Freedom of Information and Protection of Privacy Act, 1987, Chapter 25 and Ontario Regulation 532/87) /

Since the early 1970's, Canadians have expressed many concerns about the growth of government and its impact on their daily lives. The public has requested increased access to government documents and improved protection of the personal information which is held in government files and data banks. At the same time, both academics and practitioners in the field of public administration have become more interested in the values that public servants bring to their decisions and recommendations. Certain administrative values, such as accountability and integrity, have taken on greater relative importance. The purpose of this thesis is to examine the implementation of Ontario's access and privacy law. It centres on the question of whether or not the Freedom of Information and Protection of Privacy Act, 1987, (FIPPA) has answered the demand for open access to government while at the same time protecting the personal privacy of individual citizens. It also assesses the extent to which this relatively new piece of legislation has made a difference to the people of Ontario. The thesis presents an overview of the issues of freedom of information and protection of privacy in Ontario. It begins with the evolution of the legislation and a description of the law itself. It focuses on the structures and processes which have been established to meet the procedural and administrative demands of the Act. These structures and processes are evaluated in two ways. First, the thesis evaluates how open the Ontario government has become and, second, it determines how Ill carefully the privacy rights of individuals are safeguarded. An analytical framework of administrative values is used to evaluate the overall performance of the government in these two areas. The conclusion is drawn that, overall, the Ontario government has effectively implemented the Freedom of Information and Protection of Privacy Act, particularly by providing access to most government-held documents. The protection of individual privacy has proved to be not only more difficult to achieve, but more difficult to evaluate. However, the administrative culture of the Ontario bureaucracy is shown to be committed to ensuring that the access and privacy rights of citizens are respected.

Exploring the potential of early identification and intervention within a college of applied arts

This study probed for an answer to the question, "How do you identify as early as possible those students who are at risk of failing or dropping out of college so that intervention can take place?" by field testing two diagnostic instruments with a group of first semester Seneca College Computer Studies students. In some respects, the research approach was such as might be taken in a pilot study. Because of the complexity of the issue, this study did not attempt to go beyond discovery, understanding and description. Although some inferences may be drawn from the results of the study, no attempt was made to establish any causal relationship between or among the factors or variables represented here. Both quantitative and qualitative data were gathered during. four resea~ch phases: background, early identification, intervention, and evaluation. To gain a better understanding of the problem of student attrition within the School of Computer Studies at Seneca College, several methods were used, including retrospective analysis of enrollment statistics, faculty and student interviews and questionnaires, and tracking of the sample population. The significance of the problem was confirmed by the results of this study. The findings further confirmed the importance of the role of faculty in student retention and support the need to improve the quality of teacher/student interaction. As well, the need __f or ~~ills as~e:ss_~ent foll,,-~ed }JY supportiv e_c_ounsell~_I'l9_ ~~d_ __ placement was supported by the findings from this study. strategies for reducing student attrition were identified by faculty and students. As part of this study, a project referred to as "A Student Alert project" (ASAP) was undertaken at the School of Computer Studies at Seneca College. Two commercial diagnostic instruments, the Noel/Levitz College Student Inventory (CSI) and the Learning and Study Strategies Inventory (LASSI), provided quantitative data which were subsequently analyzed in Phase 4 in order to assess their usefulness as early identification tools. The findings show some support for using these instruments in a two-stage approach to early identification and intervention: the CSI as an early identification instrument and the LASSI as a counselling tool for those students who have been identified as being at risk. The findings from the preliminary attempts at intervention confirmed the need for a structured student advisement program where faculty are selected, trained, and recognized for their advisor role. Based on the finding that very few students acted on the diagnostic results and recommendations, the need for institutional intervention by way of intrusive measures was confirmed.