Indian bank efficiency and productivity changes with undesirable outputs: A disaggregated approach

The objective of this study is to examine technical efficiency and productivity growth in the Indian banking sector over the period from 2004 to 2011. We apply an innovative methodological approach introduced by Chen et al. (2011) and Barros et al. (2012), who use a weighted Russell directional distance model to measure technical inefficiency. We further modify and extend that model to measure TFP change with NPLs. We find that the inefficiency levels are significantly different among the three ownership structure of banks in India. Foreign banks have strong market position in India and they pull the production frontier in a more efficient direction. SPBs and domestic private banks show considerably higher inefficiency. We conclude that the restructuring policy applied in the late 1990s and early 2000s by the Indian government has not had a long-lasting effect.

Energy Transformed: Sustainable Energy Solutions for Climate Change Mitigation

This 600+ page online education program provides free access to a comprehensive education and training package that brings together the knowledge of how countries, specifically Australia, can achieve at least 60 percent cuts to greenhouse gas emissions by 2050. This resource has been developed in line with the activities of the CSIRO Energy Transformed Flagship research program which is focused on research that will assist Australia to achieve this target. This training package provides industry, governments, business and households with the knowledge they need to realise at least 30 percent energy efficiency savings in the short term while providing a strong basis for further improvement. It also provides an updated overview of advances in low carbon technologies, renewable energy and sustainable transport to help achieve a sustainable energy future. Whist this education and training package has an Australian focus, it outlines sustainable energy strategies and provide links to numerous online reports which will assist climate change mitigation efforts globally. This training program seeks to compliment other initiatives seeking to encourage the reduction of greenhouse gas emissions through behaviour change, sustainable consumption, and constructive changes in economic incentives and policy.

Re-engineering higher education for energy efficiency solutions

Emerging 21st century challenges require higher education institutions (HEIs) to play a key role in developing graduates and professionals, particularly in engineering and design, who can forge sustainable solutions. The trouble is there’s currently a significant lag in the preparedness of HEIs to provide the stream of professionals needed. Addressing energy efficiency competencies is one critical area.

Making the profitable transition towards sustainable business practice

The last three decades have been difficult for companies and industry. In an increasingly competitive international business climate with shifting national environmental regulations, higher standards are being demanded by the consumer and community groups, not-to-mention the escalating cost of primary resources such as water, steel and minerals. The cause of these pressures is the traditional notion held by business executives and engineers that there is an inherent trade off between eco-efficiency and improving the economic bottom line. However there is significant evidence and examples of best practice to show that there is in fact no trade-off between the environment and the economy if sustainable development through continual improvement is adopted. It is highly possible therefore for companies to make a profitable transition towards sustainable business practice, where along the transition significant business opportunities can be taken advantage of. Companies are by their very nature dynamic, influential and highly capable of adapting to change. Making an organisational transformation to a sustainable business is not outside the capacity of the typical company, who know much of what is needed already to change their activities to satisfy current market demands while achieving competitiveness. However in order to make the transition towards sustainable business practice companies require some key mechanisms such as accurate information on methodologies and opportunities, understanding of the financial and non-financial incentives, permission from stakeholders and shareholders, understanding of the emerging market opportunities, a critical mass of leaders in their sector and demonstrated case studies, and awarding appropriate risk-taking activities undertaken by engineers and CEOs. Satisfying these requirements will adopt an innovative culture within the company that strives for continual improvement and successfully transforms itself to achieve competitiveness in the 21st Century. This paper will summarise the experiences of The Natural Edge Project (TNEP) and its partners in assisting organisations to make a profitable transition towards sustainable business practice through several initiatives. The Natural Advantage of Nations publication provides the critical information required by business leaders and engineers to set the context of sustainable business practice. The Profiting in a Carbon Constrained World report, developed with Natural Capitalism Inc led by Hunter Lovins, summarises the opportunities available to companies to take advantage of the carbon trading market mechanisms such as the Chicago Climate Exchange and European Climate Exchange. The Sustainability Helix then guides the company through the transition by identifying the key tools and methodologies required by companies to reduce environmental loading while dramatically improving resource productivity and achieving competitiveness. Finally, the Engineering Sustainable Solutions Program delivers the key engineering information required by companies and university departments to deliver sustainable engineering solutions. The initiatives are of varying complexity and level of application, however all are designed to provide key staff the critical information required to make a profitable transition towards sustainable business practice. It is then their responsibility to apply and teach their knowledge to the rest of the organisation.

Brain network efficiency and topology depend on the fiber tracking method: 11 tractography algorithms compared in 536 subjects

As connectivity analyses become more popular, claims are often made about how the brain's anatomical networks depend on age, sex, or disease. It is unclear how results depend on tractography methods used to compute fiber networks. We applied 11 tractography methods to high angular resolution diffusion images of the brain (4-Tesla 105-gradient HARDI) from 536 healthy young adults. We parcellated 70 cortical regions, yielding 70×70 connectivity matrices, encoding fiber density. We computed popular graph theory metrics, including network efficiency, and characteristic path lengths. Both metrics were robust to the number of spherical harmonics used to model diffusion (4th-8th order). Age effects were detected only for networks computed with the probabilistic Hough transform method, which excludes smaller fibers. Sex and total brain volume affected networks measured with deterministic, tensor-based fiber tracking but not with the Hough method. Each tractography method includes different fibers, which affects inferences made about the reconstructed networks.

Magnetic nanoparticles boosting the osmotic efficiency of a polymeric FO draw agent: Effect of polymer conformation

Poly sodium acrylate (PSA)-coated Magnetic Nanoparticles (PSA-MNPs) were synthesized as smart osmotic draw agent (SMDA) for water desalination by forward osmosis (FO) process. The PSA-coated MNPs demonstrated significantly higher osmotic pressure (~ 30 fold) as well as high FO water flux (~ 2–3 fold) when compared to their polymer (polyelectrolyte) counterpart, even at a very low concentration of ~ 0.13 wt.% in the draw solution. The PSA polymer chain conformation – coiled to extended – demonstrates a significant impact on the availability of the polymer hydrophilic groups in solution which is the driving force to attain higher osmotic pressure and water flux. When an optimum concentration of the polymer was anchored to a NP surface, the polymer chains assume an extended open conformation making the functional hydrophilic groups available to attract water molecules. This in turn boosts the osmotic pressure and FO water flux of the PSA-MNP draw agents. The low concentration of the PSA-MNP osmotic agent and the associated high water flux enhances the cost-effectiveness of our proposed SMDA system. In addition, easier magnetic separation and regeneration of the SMDA also improves its usability making it efficient, cost-effective and environment-friendly.

Innovation in energy efficiency education for engineers

Energy efficiency as a concept has gained significant attention over the last few decades, as governments and industries around the world have grappled with issues such as rapid population growth and expanding needs for energy, the cost of supplying infrastructure for growing spikes in peak demand, the finite nature of fossil based energy reserves, and managing transition timeframes for expanding renewable energy supplies. Over the last decade in particular, there has been significant growth in understanding the complexity and interconnectedness of these issues, and the centrality of energy efficiency to the engineering profession. Furthermore, there has been a realisation amongst various government departments and education providers that associated knowledge and skill sets to achieve energy efficiency goals are not being sufficiently developed in vocational or higher education. Within this context, this poster discusses the emergence of a national energy efficiency education agenda in Australia, to support embedding such knowledge throughout the engineering curriculum, and throughout career pathways. In particular, the posterprovides insights into the national priorities for capacity building in Australia, and how this is influencing the engineering education community, from undergraduate education through to postgraduate studies and professional development. The poster is intended to assist in raising awareness about the central role of energy efficiency within engineering, significant initiatives by major government, professional, and training organisations, and the increasing availability of high quality energy efficiency engineering education resources. The authors acknowledge the support for and contributions to this poster by the federal Department of Resources, Energy and Tourism, through members of the national Energy Efficiency Advisory Group for engineering education.

Consultation: Energy efficiency and engineering education

This report provides the Commonwealth Department of Resources, Energy and Tourism (RET) with a summary of consultation undertaken with representatives from industry and academia around Australia regarding mainstreaming energy efficiency within engineering education. Specifically, the report documents the purpose of the consultation process, key messages and emerging themes, industry-perceived gaps in energy efficiency related knowledge and skills, and academic considerations regarding graduate attributes and learning pathways to close these gaps. This information complements previous reports by presenting the current thoughts and ideas of more than 100 engineering academic and practising professionals who are actively involved in building capacity through the education system or implementing energy efficiency improvements in companies/the workplace. Furthermore, the report describes the emergence of a potential ‘community of practice’ in energy efficiency capacity building that arose during the project.

State of Education for Energy Efficiency in Australian Engineering Education - Summary of Questionnaire Results

In 2007 the National Framework for Energy Efficiency provided funding for the first survey of energy efficiency education across all Australian universities teaching engineering education. The survey asked the question, ‘What is the state of education for energy efficiency in Australian engineering education?’. There was an excellent response to the survey, with 48 course responses from lecturers across 27 universities from every state and territory in Australia, and 260 student responses from 18 courses across 8 universities from all 6 states. It is concluded from the survey findings that the state of education for energy efficiency in Australian engineering education is currently highly variable and ad hoc across universities and engineering disciplines.

'Crossing the line': Criminological expertise, policy advice and the 'quarrelling society'

In October 2009, Professor David Nutt, eminent neuropsychopharmacologist and world leading expert on drugs, was dismissed as Chair of the UK government’s Advisory Council on the Misuse of Drugs for comments he made at the Centre for Crime and Justice Studies’ Eve Saville lecture. This article considers the role of evidence in political decision-making through the case of David Nutt. It is argued that the status of expert knowledge is in crisis for both the natural and the social sciences. We examine the role of the criminological advisor within emerging discourses of public criminology and suggest that high-stakes political issues can open up unprecedented opportunities for critical voices to engage in unbridled critique and to mobilise movements of dissent.

Trainee-therapists are not all equal: Examination of therapeutic efficiency, effectiveness and early client dropout after 12 months of clinical training

Objective Contemporary research demonstrates the feasibility of assessing therapeutic performance of trainee-therapists through the use of objective measures of client treatment outcome. Further, significant variation between individual therapists based on their client treatment outcomes has been demonstrated. This study sets out to determine whether a reliable composite measure of therapeutic efficiency, effectiveness and early dropout can be developed and used to objectively compare trainee-therapists against each other. Design and methods Treatment outcomes of 611 clients receiving treatment from 58 trainee-therapists enrolled in a professional training programme were tracked with the OQ-45.2 over a 6-year period to assess therapeutic efficiency, therapeutic effectiveness and early client dropout. Results Significant variation between trainee-therapists was observed for each index. Findings of a moderately strong correlation between therapeutic efficiency and effectiveness enabled the ranking of trainee-therapists based upon a composite measure of these indexes. A non-significant correlation was found between early client dropout and measures of therapeutic effectiveness and efficiency. Conclusions The findings stress the importance of utilizing objective measures to track the treatment outcomes. Despite all trainee-therapists being enrolled in the same training programme, significant variation between trainee-therapists' therapeutic efficiency and effectiveness was found to exist. Practitioner points Developing of potential benchmarking tools that enable trainee-therapists, supervisors and educational institutions to quickly assess therapeutic performance can become part of a holistic assessment of a trainee-therapist's clinical development. Despite an inherent optimistic belief that therapists do not cause harm, there appears to be a small and significant proportion of trainee-therapists who consistently evidence little therapeutic change. Considerable variability in trainee-therapists' therapeutic efficiency and effectiveness can exist in the one training programme. Early client dropout may not be associated with therapists' therapeutic effectiveness and efficiency.

Reviewing in-vehicle systems to improve fuel efficiency and road safety

Road transport plays a significant role in various industries and mobility services around the globe and has a vital impact on our daily lives. However it also has serious impacts on both public health and the environment. In-vehicle feedback systems are a relatively new approach to encouraging driver behavior change for improving fuel efficiency and safety in automotive environments. While many studies claim that the adoption of eco-driving practices, such as eco-driving training programs and in-vehicle feedback to drivers, has the potential to improve fuel efficiency, limited research has integrated safety and eco-driving. Therefore, it is crucial to understand the human factors related theories and practices which will inform the design of an in-vehicle Human Machine Interface (HMI) that could provide real-time driver feedback and consequently improve both fuel efficiency and safety. This paper provides a comprehensive review of the current state of published literature on in-vehicle systems to identify and evaluate the impact of eco-driving and safety feedback systems. This paper also discusses how these factors may conflict with one another and have a negative effect on road safety, while also exploring possible eco-driving practices that could encourage more sustainable, environmentally-conscious and safe driving behavior. The review revealed a lack of comprehensive theoretical research integrating eco-driving and safe driving, and no current available HMI covering both aspects simultaneously. Furthermore, the review identified that some eco-driving in-vehicle systems may enhance fuel efficiency without compromising safety. The review has identified a range of concepts which can be developed to influence driver acceptance of safety and eco-driving systems within the area of HMI. This can promote new research aimed at enhancing our understanding of the relationship between eco-driving and safety from the human factors viewpoint. This provides a foundation for developing innovative, persuasive and acceptable in-vehicle HMI systems to improve fuel efficiency and road safety.

The equity and efficiency of the Australian share market with respect to director trading

Purpose – The purpose of this paper is to investigate the extent of directors breaching the reporting requirements of the Australian Stock Exchange (ASX) and the Corporations Act in Australia. Further, it seeks to assess whether directors in Australia achieve abnormal returns from trades in their own companies. Design/methodology/approach – Using an event study approach on an Australian sample, abnormal returns for a range of situations were estimated. Findings – A total of 13 (seven) per cent of own‐company directors trades do not meet the ASX (Corporations Act) requirement of reporting within five (14) business days. Directors do achieve abnormal returns through trading in shares of their own companies. Ignoring transaction costs, outsiders can achieve abnormal returns by imitating directors' trades. Analysis of returns to directors after they trade but before they announce the trade to the market shows that directors are making small but statistically significant returns that are not available to the market. Analysis of returns to directors subsequent to the ASX reporting requirement up to the day the trade is reported shows that directors are making small but statistically significant returns that should be available to the market. Research limitations/implications – Future research should investigate the linkages between late reporting by directors and disadvantages to outside shareholders and the implementation of internal policies implemented to mitigate insider trading. Practical implications – Market participants should remain vigilant regarding the potential for late/non‐reporting of directors' trades. Originality/value – Uncovering breaches of reporting regulations are particularly important given that directors tend to purchase (sell) shares when the price is low (high), thereby achieving abnormal returns.

EVERSUN: A phase 2 trial of alternating sunitinib and everolimus as first-line therapy for advanced renal cell carcinoma

Background We hypothesised that alternating inhibitors of the vascular endothelial growth factor receptor (VEGFR) and mammalian target of rapamycin pathways would delay the development of resistance in advanced renal cell carcinoma (aRCC). Patients and methods A single-arm, two-stage, multicentre, phase 2 trial to determine the activity, feasibility, and safety of 12-week cycles of sunitinib 50 mg daily 4 weeks on / 2 weeks off, alternating with everolimus 10 mg daily for 5 weeks on / 1 week off, until disease progression or prohibitive toxicity in favourable or intermediate-risk aRCC. The primary end point was proportion alive and progression-free at 6 months (PFS6m). The secondary end points were feasibility, tumour response, overall survival (OS), and adverse events (AEs). The correlative objective was to assess biomarkers and correlate with clinical outcome. Results We recruited 55 eligible participants from September 2010 to August 2012. Demographics: mean age 61, 71% male, favourable risk 16%, intermediate risk 84%. Cycle 2 commenced within 14 weeks for 80% of participants; 64% received ≥22 weeks of alternating therapy; 78% received ≥22 weeks of any treatment. PFS6m was 29/55 (53%; 95% confidence interval [CI] 40% to 66%). Tumour response rate was 7/55 (13%; 95% CI 4% to 22%, all partial responses). After median follow-up of 20 months, 47 of 55 (86%) had progressed with a median progression-free survival of 8 months (95% CI 5–10), and 30 of 55 (55%) had died with a median OS of 17 months (95% CI 12–undefined). AEs were consistent with those expected for each single agent. No convincing prognostic biomarkers were identified. Conclusions The EVERSUN regimen was feasible and safe, but its activity did not meet pre-specified values to warrant further research. This supports the current approach of continuing anti-VEGF therapy until progression or prohibitive toxicity before changing treatment.

Environmental efficiency of energy, materials, and emissions

This study estimates the environmental efficiency of international listed firms in 10 worldwide sectors from 2007 to 2013 by applying an order-m method, a non-parametric approach based on free disposal hull with subsampling bootstrapping. Using a conventional output of gross profit and two conventional inputs of labor and capital, this study examines the order-m environmental efficiency accounting for the presence of each of 10 undesirable inputs/outputs and measures the shadow prices of each undesirable input and output. The results show that there is greater potential for the reduction of undesirable inputs rather than bad outputs. On average, total energy, electricity, or water usage has the potential to be reduced by 50%. The median shadow prices of undesirable inputs, however, are much higher than the surveyed representative market prices. Approximately 10% of the firms in the sample appear to be potential sellers or production reducers in terms of undesirable inputs/outputs, which implies that the price of each item at the current level has little impact on most of the firms. Moreover, this study shows that the environmental, social, and governance activities of a firm do not considerably affect environmental efficiency.