Asset Management and Investment Banking

We find evidence that conflicts of interest are pervasive in the asset management business owned by investment banks. Using data from 1990 to 2008, we compare the alphas of mutual funds, hedge funds, and institutional funds operated by investment banks and non-bank conglomerates. We find that, while no difference exists in performance by fund type, being owned by an investment bank reduces alphas by 46 basis points per year in our baseline model. Making lead loans increases alphas, but the dispersion of fees across portfolios decreases alphas. The economic loss is $4.9 billion per year.

Learning from one another: evaluating the impact of horizontal knowledge exchange for environmental management and governance

There is increasing advocacy for inclusive community-based approaches to environmental management, and growing evidence that involving communities improves the sustainability of social-ecological systems. Most community-based approaches rely on partnerships and knowledge exchange between communities, civil society organizations, and professionals such as practitioners and/or scientists. However, few models have actively integrated more horizontal knowledge exchange from community to community. We reflect on the transferability of community owned solutions between indigenous communities by exploring challenges and achievements of community peer-to-peer knowledge exchange as a way of empowering communities to face up to local environmental and social challenges. Using participatory visual methods, indigenous communities of the North Rupununi (Guyana) identified and documented their community owned solutions through films and photostories. Indigenous researchers from this community then shared their solutions with six other communities that faced similar challenges within Guyana, Suriname, Venezuela, Colombia, French Guiana, and Brazil. They were supported by in-country civil society organizations and academics. We analyzed the impact of the knowledge exchange through interviews, field reports, and observations. Our results show that indigenous community members were significantly more receptive to solutions emerging from, and communicated by, other indigenous peoples, and that this approach was a significant motivating force for galvanizing communities to make changes in their community. We identified a range of enabling factors, such as building capacity for a shared conceptual and technical understanding, that strengthens the exchange between communities and contributes to a lasting impact. With national and international policy-makers mobilizing significant financial resources for biodiversity conservation and climate change mitigation, we argue that the promotion of community owned solutions through community peer-to-peer exchange may deliver more long-lasting, socially and ecologically integrated, and investment-effective strategies compared to top-down, expert led, and/or foreign-led initiatives.

Adapting prospective structural analysis to strengthen sustainable management and capacity building in community-based natural resource management contexts

Local communities collectively managing common pool resources can play an important role in sustainable management, but they often lack the skills and context-specific tools required for such management. The complex dynamics of social-ecological systems (SES), the need for management capacities, and communities’ limited empowerment and participation skills present challenges for community-based natural resource management (CBNRM) strategies. We analyzed the applicability of prospective structural analysis (PSA), a strategic foresight tool, to support decision making and to foster sustainable management and capacity building in CBNRM contexts and the modifications necessary to use the tool in such contexts. By testing PSA in three SES in Colombia, Mexico, and Argentina, we gathered information regarding the potential of this tool and its adaptation requirements. The results suggest that the tool can be adapted to these contexts and contribute to fostering sustainable management and capacity building. It helped identify the systems’ dynamics, thus increasing the communities’ knowledge about their SES and informing the decision-making process. Additionally, it drove a learning process that both fostered empowerment and built participation skills. The process demanded both time and effort, and required external monitoring and facilitation, but community members could be trained to master it. Thus, we suggest that the PSA technique has the potential to strengthen CBNRM and that other initiatives could use it, but they must be aware of these requirements.

Scale and ecosystem services: how do observation, management, and analysis shift with scale—lessons from Québec

Ecosystem service assessment and management are shaped by the scale at which they are conducted; however, there has been little systematic investigation of the scales associated with ecosystem service processes, such as production, benefit distribution, and management. We examined how social-ecological spatial scale impacts ecosystem service assessment by comparing how ecosystem service distribution, trade-offs, and bundles shift across spatial scales. We used a case study in Québec, Canada, to analyze the scales of production, consumption, and management of 12 ecosystem services and to analyze how interactions among 7 of these ecosystem services change across 3 scales of observation (1, 9, and 75 km²). We found that ecosystem service patterns and interactions were relatively robust across scales of observation; however, we identified 4 different types of scale mismatches among ecosystem service production, consumption, and management. Based on this analysis, we have proposed 4 aspects of scale that ecosystem service assessments should consider.

Improving Wood Fuel Pellets for Household Use : Perspectives on Quality, Efficiency and Environment

Bioenergy is one of many contributors to reducing the use of fossil fuels in order to mitigate climate change by decreasing CO2-emissions, and the potential for biofuels are large. The wood fuel pellets are a refined biofuel made of sawdust, which is dried and compressed to achieve improved fuel and transportation properties. In 2007 the amount of wood fuel pellets used for heating purposes in Sweden was 1715000 tons. The aims of this work was: to examine the moisture content and emission of monoterpenes during the drying and pelletising steps of the pellets production (Paper I); to investigate how the recirculation of drying gases affects the energy efficiency of rotary dryers and how the energy efficiency is related to the capacity of the dryer. (Paper II); to analyse the causes of the problems encountered by household end-users of pellets and investigate whether an improved pellet quality standard could reduce these problems (Paper III); to investigate how the energy consumption of the pelletising machine and chosen pellet quality parameters were affected using an increased amount of rapeseed cake in wood fuel pellets (Paper IV); and to identify gaps of knowledge about wood fuel pellet technology and needs for further research on quality, environmental and health aspects throughout the wood fuel pellet chain, from sawdust to heat. (Paper V).

HPC management and engineering in the hybrid cloud

The evolution and maturation of Cloud Computing created an opportunity for the emergence of new Cloud applications. High-performance Computing, a complex problem solving class, arises as a new business consumer by taking advantage of the Cloud premises and leaving the expensive datacenter management and difficult grid development. Standing on an advanced maturing phase, today’s Cloud discarded many of its drawbacks, becoming more and more efficient and widespread. Performance enhancements, prices drops due to massification and customizable services on demand triggered an emphasized attention from other markets. HPC, regardless of being a very well established field, traditionally has a narrow frontier concerning its deployment and runs on dedicated datacenters or large grid computing. The problem with common placement is mainly the initial cost and the inability to fully use resources which not all research labs can afford. The main objective of this work was to investigate new technical solutions to allow the deployment of HPC applications on the Cloud, with particular emphasis on the private on-premise resources – the lower end of the chain which reduces costs. The work includes many experiments and analysis to identify obstacles and technology limitations. The feasibility of the objective was tested with new modeling, architecture and several applications migration. The final application integrates a simplified incorporation of both public and private Cloud resources, as well as HPC applications scheduling, deployment and management. It uses a well-defined user role strategy, based on federated authentication and a seamless procedure to daily usage with balanced low cost and performance.

Management and follow-up of a patient with Familial Atypical Multiple Mole-Melanoma (FAMMM) Syndrome

Introduction. Familial Atypical Multiple Mole-Melanoma Syndrome (FAMMM) is an autosomal dominant genodermatosis characterized by the presence of a high number of dysplastic nevi and family history of melanoma or pancreatic cancer. Melanomas in FAMMM patients tend to occur at a younger age, although they are clinically similar to sporadic melanomas in terms of overall survival. Case report. A 45 year-old woman with a family history of melanoma, a type II phototype and numerous (>100) nevi was admitted to our Department of Dermatology and Plastic Surgery. Over the past years, the patient underwent several surgical operations to remove pigmented lesions and two are dysplastic nevi. Since 1995, she underwent surgery to remove four melanomas. She is followed for skin examinations including dermoscopy. Conclusion. Identifying high-risk patients for melanoma represents a primary objective for the specialists that are involved in the management of this disease, especially in order to enact all the necessary surveillance and follow-up strategies.

KE & Science Europe briefing paper: Funding Research Data Management and related infrastructures

Responsible Research Data Management (RDM) is a pillar of quality research. In practice good RDM requires the support of a well-functioning Research Data Infrastructure (RDI). One of the challenges the research community is facing is how to fund the management of research data and the required infrastructure. Knowledge Exchange and Science Europe have both defined activities to explore how RDM/RDI are, or can be, funded. Independently they each planned to survey users and providers of data services and on becoming aware of the similar objectives and approaches, the Science Europe Working Group on Research Data and the Knowledge Exchange Research Data expert group joined forces and devised a joint activity to to inform the discussion on the funding of RDM/RDI in Europe.

Socio-economic processes on Lake Kyoga: potentials for participatory management and poverty eradication

The purpose of this paper is to review selected socio-economic aspects of the Kyoga basin lakes with a view to assessing, the potehtials within the fishing communities for participatory management and poverty eradication. This paper is based on information obtained from three categories of activities. First a review of existing data and reports was undertaken to establish existing knowledge on the subject and identify the gaps.

Societal human resources management and development

Based on a broad conceptualization of Human Resources Management and Development (HRMD) as a technical, political, and strategic field concerned to managing and developing people within and towards work context(s), this research aims to explore a potential societal role of Human Resources (HR) profession. Framed on a larger project on “New Human Resources roles”, this particular study approaches HR profession by analysing its macro-societal challenges and intervention spaces.

Individual human resource management and development: career management

Framed on a wider project on Individual Human Resource Management and Development (HRMD), this project aims to explore Individual Career Management and Development (CMD) as an emergent professional field of HRMD.

New developments in UAV remote sensing for pest management and the implications for cotton

Efficient crop monitoring and pest damage assessments are key to protecting the Australian agricultural industry and ensuring its leading position internationally. An important element in pest detection is gathering reliable crop data frequently and integrating analysis tools for decision making. Unmanned aerial systems are emerging as a cost-effective solution to a number of precision agriculture challenges. An important advantage of this technology is it provides a non-invasive aerial sensor platform to accurately monitor broad acre crops. In this presentation, we will give an overview on how unmanned aerial systems and machine learning can be combined to address crop protection challenges. A recent 2015 study on insect damage in sorghum will illustrate the effectiveness of this methodology. A UAV platform equipped with a high-resolution camera was deployed to autonomously perform a flight pattern over the target area. We describe the image processing pipeline implemented to create a georeferenced orthoimage and visualize the spatial distribution of the damage. An image analysis tool has been developed to minimize human input requirements. The computer program is based on a machine learning algorithm that automatically creates a meaningful partition of the image into clusters. Results show the algorithm delivers decision boundaries that accurately classify the field into crop health levels. The methodology presented in this paper represents a venue for further research towards automated crop protection assessments in the cotton industry, with applications in detecting, quantifying and monitoring the presence of mealybugs, mites and aphid pests.

The role of knowledge management and renewal in building innovation performance

Tämän työn tavoitteena oli selvittää tietojohtamisen eri käytäntöjen vaikutusta oppimiseen, uudistumiseen sekä yrityksen innovaatiokyvykkyyteen. Työssä on keskitytty erityisesti sellaisiin tietojohtamisen käytäntöihin, jotka edistävät oppimista ja uusiutumista yrityksissä. Työssä on käytetty tilastollisia menetelmiä, muun muassa faktorianalyysia, korrelaatioanalyysia sekä regressiota, analysoitaessa 259 suomalaisesta yrityksestä kerättyä kyselydataa niiden tietojohtamisen käytöntöihin ja aineettomaan pääomaan liittyen. Analyysi osoittaa, että useat tietojohtamisen käytännöt vaikuttavat positiivisesti yrityksen uudistumiseen ja sitä kautta innovaatiokyvykkyyteen. Henkilöstön kouluttaminen sekä parhaiden käytäntöjen kerääminen ja soveltaminen yrityksessä ovat positiivisesti yhteydessä innovaatiokyvykkyyteen. Henkilöstön kouluttamisella on merkittävin suora vaikutus innovaatiokyvykkyyteen ja tässä työssä on esitetty, että koulutuksen tarjoamisen suurin vaikutus on oppimismyönteisen kulttuurin kehittyminen yrityksiin sen sijaan, että koulutuksella pyrittäisiin vain parantamaan tehtäväkenttään liittyviä taitoja ja tietoja. Henkilöstön kouluttaminen, parhaat käytännöt sekä sosialisaatiossa tapahtuva tiedon vaihto ja suhteiden solmiminen vaikuttavat positiivisesti uudistumispääomaan. Työn tulosten perusteella uudistumispääomalla on merkittävä rooli innovaatioiden syntymisessä yrityksissä. Uudistumispääoma medioi koulutuksen, parhaiden käytäntöjen ja mahdollisesti myös sosialisaation vaikutusta innovaatiokyvykkyyteen ja on näin merkittävä osa innovaatioiden syntyä yrityksissä. Innovaatiokyvykkyyden osatekijöiden ymmärtäminen voi auttaa johtajia ja esimiehiä keskittämään huomionsa tiettyihin tietojohtamisen käytäntöihin edistääkseen innovaatioiden syntymistä yrityksessä sen sijaan, että he pyrkisivät vain vaikuttamaan innovaatioprosessiin.

THE DISTRIBUTION AND FUNCTION OF DENITRIFICATION GENES: EXPLORING AGRICULTURAL MANAGEMENT AND SOIL CHEMICAL IMPLICATIONS

Denitrification is a microbially-mediated process that converts nitrate (NO3-) to dinitrogen (N2) gas and has implications for soil fertility, climate change, and water quality. Using PCR, qPCR, and T-RFLP, the effects of environmental drivers and land management on the abundance and composition of functional genes were investigated. Environmental variables affecting gene abundance were soil type, soil depth, nitrogen concentrations, soil moisture, and pH, although each gene was unique in its spatial distribution and controlling factors. The inclusion of microbial variables, specifically genotype and gene abundance, improved denitrification models and highlights the benefit of including microbial data in modeling denitrification. Along with some evidence of niche selection, I show that nirS is a good predictor of denitrification enzyme activity (DEA) and N2O:N2 ratio, especially in alkaline and wetland soils. nirK was correlated to N2O production and became a stronger predictor of DEA in acidic soils, indicating that nirK and nirS are not ecologically redundant.

Platform management and early supplier involvement in NPD

Platform strategies reflect a firm’s technology policy towards its new product development (NPD) activities. Depending on the technological complexities embedded in the platform, certain degree of interdependence is created between the firm and its suppliers. Firms may decide to what extent the suppliers should be involved in its NPD activities. There has been an increasing interest with issues related to supplier involvement in NPD. Involving suppliers early in NPD can help firms reduce costs, reduce concept-to-customer development time, improve quality, and provide innovative technologies. However, it requires a great effort and many tradeoffs need to be considered. This paper discusses the implications of early supplier involvement in new product development, specifically regarding to sourcing decisions and NPD processes when new components are designed and incorporated into the new platform. We would like to understand to what extent the NPD collaborates with suppliers, and at which stage of the NPD process suppliers are invited to participate in platform designs. A case study of Oticon, a Danish manufacturer of hearing aids, is presented. We describe how the successful introduction of a new platform of hearing aids is realized as well as how and when Oticon’s suppliers were involved during this process.