Profitability of a sample of Portuguese bank branches and its decomposition into technical and allocative components

The efficiency literature, both using parametric and non-parametric methods, has been focusing mainly on cost efficiency analysis rather than on profit efficiency. In for-profit organisations, however, the measurement of profit efficiency and its decomposition into technical and allocative efficiency is particularly relevant. In this paper a newly developed method is used to measure profit efficiency and to identify the sources of any shortfall in profitability (technical and/or allocative inefficiency). The method is applied to a set of Portuguese bank branches first assuming long run and then a short run profit maximisation objective. In the long run most of the scope for profit improvement of bank branches is by becoming more allocatively efficient. In the short run most of profit gain can be realised through higher technical efficiency. © 2003 Elsevier B.V. All rights reserved.

Kinetic study on thermal decomposition of woods in oxidative environment

The purpose of this work is to gain knowledge on kinetics of biomass decomposition under oxidative atmospheres, mainly examining effect of heating rate on different biomass species. Two sets of experiments are carried out: the first set of experiments is thermal decomposition of four different wood particles, namely aspens, birch, oak and pine under an oxidative atmosphere and analysis with TGA; and the second set is to use large size samples of wood under different heat fluxes in a purpose-built furnace, where the temperature distribution, mass loss and ignition characteristics are recorded and analyzed by a data post-processing system. The experimental data is then used to develop a two-step reactions kinetic scheme with low and high temperature regions while the activation energy for the reactions of the species under different heating rates is calculated. It is found that the activation energy of the second stage reaction for the species with similar constituent fractions tends to converge to a similar value under the high heating rate.

Studies on the thermal decomposition behaviour, kinetics and electrical conductivity of the non-isothermal decomposition of pyridine mono carboxylic acids and some of their transition metal complexes

The thesis is divided into four chapters. They are: introduction, experimental, results and discussion about the free ligands and results and discussion about the complexes. The First Chapter, the introductory chapter, is a general introduction to the study of solid state reactions. The Second Chapter is devoted to the materials and experimental methods that have been used for carrying out tile experiments. TIle Third Chapter is concerned with the characterisations of free ligands (Picolinic acid, nicotinic acid, and isonicotinic acid) by using elemental analysis, IR spectra, X-ray diffraction, and mass spectra. Additionally, the thermal behaviour of free ligands in air has been studied by means of thermogravimetry (TG), derivative thermogravimetry (DTG), and differential scanning calorimetry (DSC) measurements. The behaviour of thermal decomposition of the three free ligands was not identical Finally, a computer program has been used for kinetic evaluation of non-isothermal differential scanning calorimetry data according to a composite and single heating rate methods in comparison with the methods due to Ozawa and Kissinger methods. The most probable reaction mechanism for the free ligands was the Avrami-Erofeev equation (A) that described the solid-state nucleation-growth mechanism. The activation parameters of the decomposition reaction for free ligands were calculated and the results of different methods of data analysis were compared and discussed. The Fourth Chapter, the final chapter, deals with the preparation of cobalt, nickel, and copper with mono-pyridine carboxylic acids in aqueous solution. The prepared complexes have been characterised by analyses, IR spectra, X-ray diffraction, magnetic moments, and electronic spectra. The stoichiometry of these compounds was ML2x(H20), (where M = metal ion, L = organic ligand and x = water molecule). The environments of cobalt, nickel, and copper nicotinates and the environments of cobalt and nickel picolinates were octahedral, whereas the environment of copper picolinate [Cu(PA)2] was tetragonal. However, the environments of cobalt, nickel, and copper isonicotinates were polymeric octahedral structures. The morphological changes that occurred throughout the decomposition were followed by SEM observation. TG, DTG, and DSC measurements have studied the thermal behaviour of the prepared complexes in air. During the degradation processes of the hydrated complexes, the crystallisation water molecules were lost in one or two steps. This was also followed by loss of organic ligands and the metal oxides remained. Comparison between the DTG temperatures of the first and second steps of the dehydration suggested that the water of crystallisation was more strongly bonded with anion in Ni(II) complexes than in the complexes of Co(II) and Cu(II). The intermediate products of decomposition were not identified. The most probable reaction mechanism for the prepared complexes was also Avrami-Erofeev equation (A) characteristic of solid-state nucleation-growth mechanism. The tempemture dependence of conductivity using direct current was determined for cobalt, nickel, Cl.nd copper isonicotinates. An activation energy (ΔΕ), the activation energy (ΔΕ ) were calculated.The ternperature and frequency dependence of conductivity, the frequency dependence of dielectric constant, and the dielectric loss for nickel isonicotinate were determined by using altemating current. The value of s paralneter and the value of'density of state [N(Ef)] were calculated. Keyword Thermal decomposition, kinetic, electrical conduclion, pyridine rnono~ carboxylic acid, cOlnplex, transition metal compJex.

Studies of clay minerals and their decomposition products

Mõssbauer spectroscopy and X-ray diffraction of five coals revealed the presence of pyrite, illite, kaolinite and Quartz, together with other minor phases. Analysis of the coal ashes indicated the formation of hematite and an Fe (3+) paramagnetic phase, the latter resulting from .the dehydroxylation of the clay minerals during ashing at 700 to 750 C. By using a combination of several physicochemical methods, different successive stages of dehydroxylation, structural consolidation, and recrystallisation of illite, montmorillonite and hectorite upon thermal treatment to 1300 C were investigated. Dehydroxylation of the clay minerals occurred between 450 and 750 C, the X-ray crysdallinity of illite and montmorillonite remaining until 800 C. Hectorite gradually recrystallises to enstatite at temperatures above 700°C. At 900 C the crystalline structure of all three clay minerals had totally collapsed. Solid state reactions occurred above 900 C producing such phases as spinel, hematite, enstatite, cristobalite and mullite. Illite and montmorillonite started to melt between 1200 and 1300°C, producing a silicate glass that contained Fe(3+) and Fe(2+) ions. Ortho-pnstatite, clino-enstatite and proto-enstatite were identified in the thermal products of hectorite, their relative proportions varying with temperature. Protoenstatite was stabilised with respect to metastable clinoenstatite upon cooling from 12000 C by the presence of exchanged transition metal cations. Solid state Nuclear Magnetic Resonance spectroscopy of thermally treated transition metal exchanged hectorite indicated the levels at which paramagnetic cations could be loaded on to the clay before spectral resolution is significantly diminished.

The measurement and decomposition of economy-wide productivity growth:Assessing the accuracy and selecting between different approaches

Productivity at the macro level is a complex concept but also arguably the most appropriate measure of economic welfare. Currently, there is limited research available on the various approaches that can be used to measure it and especially on the relative accuracy of said approaches. This thesis has two main objectives: firstly, to detail some of the most common productivity measurement approaches and assess their accuracy under a number of conditions and secondly, to present an up-to-date application of productivity measurement and provide some guidance on selecting between sometimes conflicting productivity estimates. With regards to the first objective, the thesis provides a discussion on the issues specific to macro-level productivity measurement and on the strengths and weaknesses of the three main types of approaches available, namely index-number approaches (represented by Growth Accounting), non-parametric distance functions (DEA-based Malmquist indices) and parametric production functions (COLS- and SFA-based Malmquist indices). The accuracy of these approaches is assessed through simulation analysis, which provided some interesting findings. Probably the most important were that deterministic approaches are quite accurate even when the data is moderately noisy, that no approaches were accurate when noise was more extensive, that functional form misspecification has a severe negative effect in the accuracy of the parametric approaches and finally that increased volatility in inputs and prices from one period to the next adversely affects all approaches examined. The application was based on the EU KLEMS (2008) dataset and revealed that the different approaches do in fact result in different productivity change estimates, at least for some of the countries assessed. To assist researchers in selecting between conflicting estimates, a new, three step selection framework is proposed, based on findings of simulation analyses and established diagnostics/indicators. An application of this framework is also provided, based on the EU KLEMS dataset.

Thermal decomposition behavior of 1,2-bis-(2,4,6-tribromophenoxy)ethane

The thermal decomposition behavior of 1,2-bis-(2,4,6-tribromophenoxy)ethane (BTBPE) widely used as flame retardant plastics additive was studied by HRTG and differential scanning calorimetries. It was pyrolysed in inert atmosphere at 240 and 340 °C in isothermal conditions, the decomposition products were collected and investigated by means of IR and GC-MS, most of them are identified. It was found that BTBPE mostly evaporates at 240 °C. The decomposition products at 340°C depend on rate of their removal from the hot reaction zone. Main primary decomposition products found in case of rapid removal are tribromophenol and vinyl tribromophenyl ether. Whereas, prolonged contact with heating zone also produces hydrogen bromide, ethylene bromide, polybrominated vinyl phenyl ethers and diphenyl ethers, and dibenzodioxins. The nature of the identified compounds are in accordance with a molecular and radical pyrolysis reaction pathway. © 2002 Elsevier Science B.V. All rights reserved.

A shape-based decomposition of the yield adjustment term in the arbitrage-free Nelson and Siegel (AFNS) model of the yield curve

The appealing feature of the arbitrage-free Nelson-Siegel model of the yield curve is the ability to capture movements in the yield curve through readily interpretable shifts in its level, slope or curvature, all within a dynamic arbitrage-free framework. To ensure that the level, slope and curvature factors evolve so as not to admit arbitrage, the model introduces a yield-adjustment term. This paper shows how the yield-adjustment term can also be decomposed into the familiar level, slope and curvature elements plus some additional readily interpretable shape adjustments. This means that, even in an arbitrage-free setting, it continues to be possible to interpret movements in the yield curve in terms of level, slope and curvature influences. © 2014 © 2014 Taylor & Francis.

Decomposition of the B2-type matrix

The microstructural stability of aluminide diffusion coatings, prepared by means of a two-stage pack-aluminization treatment on single-crystal nickel-base superalloy substrates, is considered in this article. Edge-on specimens of coated superalloy are studied using transmission electron microscopy (TEM). The effects of coating thickness and post-coating heat treatment (duration, temperature, and atmosphere) on coating microstructure are examined. The article discusses the partial transformation of the matrix of the coating, from a B2-type phase (nominally NiAl) to a L12 phase (nominally Ni3(Al, Ti)), during exposure at temperatures of 850 °C and 950 °C in air and in vacuum for up to 138 hours. Three possible processes that can account for decom- position of the coating matrix are investigated, namely, interdiffusion between the coating and the substrate, oxidation of the coating surface, and aging of the coating. Of these processes, aging of the coating is shown to be the predominant factor in the coating transformation under the conditions considered. © 1992 The Minerals, Metals and Materials Society, and ASM International.

Intragranular nucleation of austenite

The mechanism of intragranular nucleation of austenite in a duplex stainless steel (Fe-23.1 Cr-6.1 Ni-3.1 Mo-O.165 N-0.017 C, wt.%) weld metal and heat-affected zone (HAZ) has been examined. In the weld metal the acicular austenite is found to nucleate intragranularly on inclusions and subsequent plates form sympathetically resulting in a fine interlocked microstructure. Austenite plates adopt the Kurdjumov-Sachs orientation relationship with the ferrite matrix and grow with diffusion-controlled mechanism as evident from partitioning of substitutional alloying elements. At least one set of fine intrinsic dislocations on the austenite/ferrite interphase interfaces is observed suggesting that the boundaries are semi-coherent. The high cooling rates involved in the HAZ result in a supersaturated ferrite matrix where precipitation of intragranular austenite occurs as a result of reheating associated with subsequent passes. Austenite particles in the HAZ nucleate preferentially away from gain boundary austenite allotriomorphs indicating that intragranular precipitation is favoured by the supersaturated matrix.