Mixed models for short-run forecasting of electricity prices: Application for the Spanish market

Short-run forecasting of electricity prices has become necessary for power generation unit schedule, since it is the basis of every profit maximization strategy. In this article a new and very easy method to compute accurate forecasts for electricity prices using mixed models is proposed. The main idea is to develop an efficient tool for one-step-ahead forecasting in the future, combining several prediction methods for which forecasting performance has been checked and compared for a span of several years. Also as a novelty, the 24 hourly time series has been modelled separately, instead of the complete time series of the prices. This allows one to take advantage of the homogeneity of these 24 time series. The purpose of this paper is to select the model that leads to smaller prediction errors and to obtain the appropriate length of time to use for forecasting. These results have been obtained by means of a computational experiment. A mixed model which combines the advantages of the two new models discussed is proposed. Some numerical results for the Spanish market are shown, but this new methodology can be applied to other electricity markets as well

Time-motion analysis in women’s team handball: importance of aerobic performance

Women’s handball is a sport, which has seen an accelerated development over the last decade. Data on movement patterns in combination with physiological demands are nearly nonexistent in the literature. The aim of this study was twofold: first, to analyze the horizontal movement pattern, including the sprint acceleration profiles, of individual female elite handball players and the corresponding heart rates (HRs) during a match and secondly to determine underlying correlations with individual aerobic performance. Players from one German First League team (n = 11) and the Norwegian National Team (n = 14) were studied during one match using the Sagit system for movement analysis and Polar HR monitoring for analysis of physiological demands. Mean HR during the match was 86 % of maximum HR (HRmax). With the exception of the goalkeepers (GKs, 78 % of HRmax), no position-specific differences could be detected. Total distance covered during the match was 4614 m (2066 m in GKs and 5251 m in field players (FPs)). Total distance consisted of 9.2 % sprinting, 26.7 % fast running, 28.8 % slow running, and 35.5 % walking. Mean velocity varied between 1.9 km/h (0.52 m/s) (GKs) and 4.2 km/h (1.17 m/s) (FPs, no position effect). Field players with a higher level of maximum oxygen uptake (V̇O2max) executed run activities with a higher velocity but comparable percentage of HRmax as compared to players with lower aerobic performance, independent of FP position. Acceleration profile depended on aerobic performance and the field player’s position. In conclusion, a high V̇O2max appears to be important in top-level international women’s handball. Sprint and endurance training should be conducted according to the specific demands of the player’s position.

Measurement of free drug and clinical end-point by high-performance liquid chromatography-mass spectrometry: Applications and implications for pharmacokinetic and pharmacodynamic studies

Free drug measurement and pharmacodymanic markers provide the opportunity for a better understanding of drug efficacy and toxicity. High-performance liquid chromatography (HPLC)-mass spectrometry (MS) is a powerful analytical technique that could facilitate the measurement of free drug and these markers. Currently, there are very few published methods for the determination of free drug concentrations by HPLC-MS. The development of atmospheric pressure ionisation sources, together with on-line microdialysis or on-line equilibrium dialysis and column switching techniques have reduced sample run times and increased assay efficiency. The availability of such methods will aid in drug development and the clinical use of certain drugs, including anti-convulsants, anti-arrhythmics, immunosuppressants, local anaesthetics, anti-fungals and protease inhibitors. The history of free drug measurement and an overview of the current HPLC-MS applications for these drugs are discussed. Immunosuppressant drugs are used as an example for the application of HPLC-MS in the measurement of drug pharmacodynamics. Potential biomarkers of immunosuppression that could be measured by HPLC-MS include purine nucleoside/nucleotides, drug-protein complexes and phosphorylated peptides. At the proteomic level, two-dimensional gel electrophoresis combined with matrix-assisted laser desorption/ionisation time-of-flight (TOF) MS is a powerful tool for identifying proteins involved in the response to inflammatory mediators. (C) 2003 Elsevier Science B.V. All rights reserved.

Measuring performance of virtual learning environment system in higher education

Purpose – The purpose of this paper is to measure the performance of commercial virtual learning environment (VLE) systems, which helps the decision makers to select the appropriate system for their institutions. Design/methodology/approach – This paper develops an integrated multiple criteria decision making approach, which combines the analytic hierarchy process (AHP) and quality function deployment (QFD), to evaluate and select the best system. The evaluating criteria are derived from the requirements of those who use the system. A case study is provided to demonstrate how the integrated approach works. Findings – The major advantage of the integrated approach is that the evaluating criteria are of interest to the stakeholders. This ensures that the selected system will achieve the requirements and satisfy the stakeholders most. Another advantage is that the approach can guarantee the benchmarking to be consistent and reliable. From the case study, it is proved that the performance of a VLE system being used at the university is the best. Therefore, the university should continue to run the system in order to support and facilitate both teaching and learning. Originality/value – It is believed that there is no study that measures the performance of VLE systems, and thus decision makers may have difficulties in system evaluation and selection for their institutions.

The impact of leadership and quality climate on hospital performance

Objective. To explore the relationship between leadership effectiveness and health-care trust performance, taking into account external quality measures and the number of patient complaints; also, to examine the role of care quality climate as a mediator. Design. We developed scales for rating leadership effectiveness and care quality climate. We then drew upon UK national indices of health-care trust performance—Commission for Health Improvement star ratings, Clinical Governance Review ratings and the number of patient complaints per thousand. We conducted statistical analysis to examine any significant relationships between predictor and outcome variables. Setting. The study is based on 86 hospital trusts run by the National Health Service (NHS) in the UK. The data collection is part of an annual staff survey commissioned by the NHS to explore the quality of working life. Participants. A total of 17 949 employees were randomly surveyed (41% of the total sample). Results. Leadership effectiveness is associated with higher Clinical Governance Review ratings and Commission for Health Improvement star ratings for our sample (ß = 0.42, P < 0.05; ß = 0.37, P < 0.05, respectively), and lower patient complaints (ß = –0.57, P < 0.05). In addition, 98% of the relationship between leadership and patient complaints is explained by care quality climate. Conclusions. Results offer insight into how non-clinical leadership may foster performance outcomes for health-care organizations. A frequently neglected area—patient complaints—may be a valid measure to consider when assessing leadership and quality in a health-care context.

The influence of tool geometry on the performance of drilling tools

The main objective of the work presented in this thesis is to investigate the two sides of the flute, the face and the heel of a twist drill. The flute face was designed to yield straight diametral lips which could be extended to eliminate the chisel edge, and consequently a single cutting edge will be obtained. Since drill rigidity and space for chip conveyance have to be a compromise a theoretical expression is deduced which enables optimum chip disposal capacity to be described in terms of drill parameters. This expression is used to describe the flute heel side. Another main objective is to study the effect on drill performance of changing the conventional drill flute. Drills were manufactured according to the new flute design. Tests were run in order to compare the performance of a conventional flute drill and non conventional design put forward. The results showed that 50% reduction in thrust force and approximately 18% reduction in torque were attained for the new design. The flank wear was measured at the outer corner and found to be less for the new design drill than for the conventional one in the majority of cases. Hole quality, roundness, size and roughness were also considered as a further aspect of drill performance. Improvement in hole quality is shown to arise under certain cutting conditions. Accordingly it might be possible to use a hole which is produced in one pass of the new drill which previously would have required a drilled and reamed hole. A subsidiary objective is to design the form milling cutter that should be employed for milling the foregoing special flute from drill blank allowing for the interference effect. A mathematical analysis in conjunction with computing technique and computers is used. To control the grinding parameter, a prototype drill grinder was designed and built upon the framework of an existing cincinnati cutter grinder. The design and build of the new grinder is based on a computer aided drill point geometry analysis. In addition to the conical grinding concept, the new grinder is also used to produce spherical point utilizing a computer aided drill point geometry analysis.

Executive remuneration, financial performance and corporate governance in UK and Spanish listed firms

This study examines the relationship between executive directors’ remuneration and the financial performance and corporate governance arrangements of the UK and Spanish listed firms. These countries’ corporate governance framework has been shaped by differences in legal origin, culture and backgrounds. For example, the UK legal arrangements can be defined as to be constituted in common-law, whereas for Spanish firms, the legal arrangement is based on civil law. We estimate both static and dynamic regression models to test our hypotheses and we estimate our regression using Ordinary Least Squares (OLS) and the Generalised Method of Moments (GMM). Estimated results for both countries show that directors’ remuneration levels are positively related with measures of firm value and financial performance. This means that remuneration levels do not lead to a point whereby firm value is reduced due to excessive remuneration. These results hold for our long-run estimates. That is, estimates based on panel cointegration and panel error correction. Measures of corporate governance also impacts on the level of executive pay. Our results have important implications for existing corporate governance arrangements and how the interests of stakeholders are protected. For example, long-run results suggest that directors’ remuneration adjusts in a way to capture variation in financial performance

How green is green? A framework for environmental performance assessment in operations

This paper presents a framework based upon a relationship between environmental benefits and the investments and costs needed to implement and run company operations. As the results of environmental management become more evident it is proposed that the benefits rather than the environmental impacts are measured in the analysis of environmental performance. Four categories, or stages, are defined in this paper: “creative-green”, “expensive-green”, “inefficient-green or beginner”, and finally, the “complacent” stage. The paper describes the characteristics of each category and provides examples of indicators that could be used to measure environmental benefits. Qualitative and quantitative methods are necessary to classify companies according to the framework. It is believed that this paper can assist companies and public organisations to assess operations and projects considering their level of sustainability. The proposed framework can impact FDI and environmental policies in the public arena, and foster innovation on environmental practices within the private sector.

Small business performance:business, strategy and owner-manager characteristics

Purpose: This paper aims to contribute to the understanding of the factors that influence small to medium-sized enterprise (SME) performance and particularly, growth. Design/methodology/approach: This paper utilises an original data set of 360 SMEs employing 5-249 people to run logit regression models of employment growth, turnover growth and profitability. The models include characteristics of the businesses, the owner-managers and their strategies. Findings: The results suggest that size and age of enterprise dominate performance and are more important than strategy and the entrepreneurial characteristics of the owner. Having a business plan was also found to be important. Research limitations/implications: The results contribute to the development of theoretical and knowledge bases, as well as offering results that will be of interest to research and policy communities. The results are limited to a single survey, using cross-sectional data. Practical implications: The findings have a bearing on business growth strategy for policy makers. The results suggest that policy measures that promote the take-up of business plans and are targeted at younger, larger-sized businesses may have the greatest impact in terms of helping to facilitate business growth. Originality/value: A novel feature of the models is the incorporation of entrepreneurial traits and whether there were any collaborative joint venture arrangements. © Emerald Group Publishing Limited.

Trade marks and performance in UK firms:evidence of Schumpeterian competition through innovation

This paper uses novel data on trade mark activity of UK manufacturing and service sector firms to investigate whether trade marks improve the profitability and productivity of firms. We first analyse Tobin`s q, the ratio of stock market value to book value of tangible assets. We then investigate the relationship between trade mark activity and productivity, using a value added production function. Finally we examine interactions between firms IP activity, to explore creative destruction and growth via innovation. We find trade marks are positively related to both Tobin`s q and to productivity. Also in the short run greater IP activity by other firms in the industry reduces the value added of the firm, but this same competitive pressure has later benefits via productivity growth, also reflected in higher stock market value. This describes the Schumpeterian process of competition through innovation, restraining profit margins while increasing product variety and quality.

An examination of the relationship of governance structure and performance: Evidence from banking companies in Bangladesh

Corporate governance has become increasingly important in developed and developing countries just after a series of corporate scandals and failures in a number of countries. Corporate governance structure is often viewed as a means of corporate success despite prior studies reveal mixed, somewhere conflicting and ambiguous, and somewhere no relationship between governance structure and performance. This study empirically investigates the relationship between corporate governance mechanisms and financial performance of listed banking companies in Bangladesh by using two multiple regression models. The study reveals that a good number of companies do not comply with the regulatory requirements indicating remarkable shortfall in corporate governance practice. The companies are run by the professional managers having no duality and no ownership interest for which they are compensated by high remuneration to curb agency conflict. Apart from some inconsistent relationship between some corporate variables, the corporate governance mechanisms do not appear to have significant relationship with financial performances. The findings reveal an insignificant negative impact or somewhere no impact of independent directors and non-independent non-executive directors on the level of performance that strongly support the concept that the managers are essentially worthy of trust and earn returns for the owners as claimed by stewardship theory. The study provides support for the view that while much emphasis on corporate governance mechanisms is necessary to safeguard the interest of stakeholders; corporate governance on its own, as a set of codes or standards for corporate conformance, cannot make a company successful. Companies need to balance corporate governance mechanisms with performance by adopting strategic decision and risk management with the efficient utilization of the organization’s resources.

The relationship between staff perceptions of principal leadership and school performance

The climate of a school can be defined as the set of internal characteristics that distinguishes one school from another and influences the behavior of its members (Hoy & Hannum, 1997). Schools with a positive climate have been shown to positively impact students (Hoy, 1972). A principal’s leadership style influences the climate that, in turn, impacts student performance. ^ In this work, the researcher investigated Miami-Dade County Public Schools in order to determine if there was a relationship between instructional staff members’ perceptions of their school’s principals, a derivative of the district’s school climate studies, and their schools’ grades. ^ Eight School Climate Survey items were inter-correlated. The smallest intercorrelation was .83, which is still a large intercorrelation, and the largest intercorrelation was .96. Pearson’s correlation analysis (Healey, 2004) was run to determine the relationship between schools’ earned points and averaged survey responses. Survey items 8, 9, 12 and 13 had weak (less than .30) positive correlations to schools’ earned points. Survey items 7, 10, 11 and 14 had moderate (above .30) positive correlations to schools’ earned points. ^ The researcher created a composite variable (Pallant, 2007) from all the School Climate Survey responses. This composite variable, titled Principal Leadership Score, allowed the researcher to determine that approximately 9% of the variance in the points earned by schools in 2009 can be accounted for by how teachers in this study perceived the leadership of their principals. ^ This study’s findings of a moderate positive correlation between teachers’ perceptions of principal leadership and school performance supports earlier research linking school climate and school performance. Due to the fact that the leadership of the principal affects, either positively or negatively, the learning and working environment of students and teachers, it is recommended that principals use the eight School Climate Survey items examined within this study as guides (Pepper & Thomas, 2002). Through focusing on these survey items, principals may be propelled to self-identify their leadership strengths as well as leadership weaknesses.^

Does core strength training influence kinetic efficiency, lower extremity stability, and 5000m performance in runners?

Context: Core strength training (CST) has been popular in the fitness industry for a decade. Although strong core muscles are believed to enhance athletic performance, only few scientific studies have been conducted to identify the effectiveness of CST on improving athletic performance. Objective: Identify the effects of a 6-wk CST on running kinetics, lower extremity stability, and running performance in recreational and competitive runners. Design and Setting: A test-retest, randomized control design was used to assess the effect of CST and no CST on ground reaction force (GRF), lower extremity stability scores, and running performance. Participants: Twenty-eight healthy adults (age, 36.9+9.4yrs, height, 168.4+9.6cm, mass, 70.1+15.3kg) were recruited and randomly divided into two groups. Main outcome Measures: GRF was determined by calculating peak impact vertical GRF (vGRF), peak active vGRF, duration of the breaking or horizontal GRF (hGRF), and duration of the propulsive hGRF as measured while running across a force plate. Lower extremity stability in three directions (anterior, posterior, lateral) was assessed using the Star Excursion Balance Test (SEBT). Running performance was determined by 5000 meter run measured on selected outdoor tracks. Six 2 (time) X 2 (condition) mixed-design ANOVA were used to determine if CST influences on each dependent variable, p < .05. Results: No significant interactions were found for any kinetic variables and SEBT score, p>.05. But 5000m run time showed significant interaction, p < .05. SEBT scores improved in both groups, but more in the experimental group. Conclusion: CST did not significantly influence kinetic efficiency and lower extremity stability, but did influence running performance.

Improving performance of a permeable reactive barrier in the degradation of trichloroethylene using ultrasound

The impact of ultrasound on improving the performance of a granular iron Permeable Reactive Barrier (PRB) in the degradation of Trichloroethylene (TCE) was evaluated. Two treatment columns made of clear Plexiglas with a height of 1ft and a diameter of 2 inches and filled with granular iron were used. One was fitted with 25Khz ultrasound probes. A solution of TCE was run through at constant flow rate. Samples obtained from the column at different residence times before and after sonication were analyzed for concentrations of TCE and used to generate concentration profiles to obtain rate constants, which were compared. An improvement of 23.4% in the reaction rate of TCE degradation was observed after sonication of the iron media suggesting that ultrasound may contribute to improving the performance of PRBs in the degradation of TCE in contaminated groundwater.

Using Coding to Improve Localization and Backscatter Communication Performance in Low-Power Sensor Networks

Backscatter communication is an emerging wireless technology that recently has gained an increase in attention from both academic and industry circles. The key innovation of the technology is the ability of ultra-low power devices to utilize nearby existing radio signals to communicate. As there is no need to generate their own energetic radio signal, the devices can benefit from a simple design, are very inexpensive and are extremely energy efficient compared with traditional wireless communication. These benefits have made backscatter communication a desirable candidate for distributed wireless sensor network applications with energy constraints.

The backscatter channel presents a unique set of challenges. Unlike a conventional one-way communication (in which the information source is also the energy source), the backscatter channel experiences strong self-interference and spread Doppler clutter that mask the information-bearing (modulated) signal scattered from the device. Both of these sources of interference arise from the scattering of the transmitted signal off of objects, both stationary and moving, in the environment. Additionally, the measurement of the location of the backscatter device is negatively affected by both the clutter and the modulation of the signal return.

This work proposes a channel coding framework for the backscatter channel consisting of a bi-static transmitter/receiver pair and a quasi-cooperative transponder. It proposes to use run-length limited coding to mitigate the background self-interference and spread-Doppler clutter with only a small decrease in communication rate. The proposed method applies to both binary phase-shift keying (BPSK) and quadrature-amplitude modulation (QAM) scheme and provides an increase in rate by up to a factor of two compared with previous methods.

Additionally, this work analyzes the use of frequency modulation and bi-phase waveform coding for the transmitted (interrogating) waveform for high precision range estimation of the transponder location. Compared to previous methods, optimal lower range sidelobes are achieved. Moreover, since both the transmitted (interrogating) waveform coding and transponder communication coding result in instantaneous phase modulation of the signal, cross-interference between localization and communication tasks exists. Phase discriminating algorithm is proposed to make it possible to separate the waveform coding from the communication coding, upon reception, and achieve localization with increased signal energy by up to 3 dB compared with previous reported results.

The joint communication-localization framework also enables a low-complexity receiver design because the same radio is used both for localization and communication.

Simulations comparing the performance of different codes corroborate the theoretical results and offer possible trade-off between information rate and clutter mitigation as well as a trade-off between choice of waveform-channel coding pairs. Experimental results from a brass-board microwave system in an indoor environment are also presented and discussed.