Does oil price affect the value of firms? Evidence from Tunisian listed firms

A new debate on the potential impact of oil price changes on the value of firms was initiated in this paper. Using a stochastic frontier approach, an attempt was made to derive the optimal value Q* of firms and calculate the Q value observed. Then the shortfall (Q*–Q) which represents the inefficiency term was explained. Starting from 19 industrial Tunisian firms listed on the Tunis Stock Exchange between 2007 and 2011, the fact that variation of oil prices can largely explain distortions in the value of firms was empirically demonstrated.     

Socio-economic and political barriers to public participation in EIA: implications for sustainable development in the Maldives

Abstract

Environmental impact assessment (EIA) is a policy process that can lead to more sustainable development by preventing or mitigating the negative impacts of development projects. Public participation in the EIA process, especially one based on the ideals of deliberative democracy, is essential to deliver on the goal of sustainable development that is arguably the primary objective of EIA. This article specifically focuses on a study of public participation in the EIA process of the Maldives. Using a qualitative research design involving an analysis of documents and interviews, it investigates four aspects of a deliberative participatory process: fairness, competence, willingness and capacity. The analysis suggests that the process for public participation in the Maldives cannot be characterized as fully fair or competent. It further identifies several socio-economic barriers that affect the capacity and willingness of the actors to participate including political influence, lack of human and financial capacity, gender gap, loss of community spirit and lack of environmental and procedural awareness.     

Multi-objective design of vehicle suspension systems via a local diffusion genetic algorithm for disjoint Pareto frontiers

This article presents a multi-objective design optimization study of a vehicle suspension system with passive variable stiffness and active damping. Design of suspension systems is particularly challenging when the effective mass of the vehicle is subject to considerable variation during service. Perfectly maintaining the suspension performance under the variable load typically requires a controlled actuator to emulate variable stiffness. This is typically done through a hydraulic or pneumatic system, which can be too costly for small/medium pick-up trucks. The system in this article employs two springs with an offset to the second spring so that it engages during large deformation only, thereby providing passive variable stiffness without expensive hydraulics. The system damping is assumed to be controlled via variable viscosity magnetizable fluid, which can be implemented in a compact, low-power set-up. Performance indices from the literature are evaluated at minimum and maximum weight, and regarded as objectives in a multi-objective problem. As the individual objectives are prone to having local optima, the multi-objective problem is prone to having a disjointed Pareto-space. To deal with this issue, a modification is proposed to a multi-objective genetic algorithm. The algorithm performance is investigated via analytical test functions as well as the design case of the suspension system.     

Thermal degradation behavior of poly(vinyl chloride) in the presence of poly(glycidyl methacrylate)

The thermal degradation behavior of poly(vinyl chloride) (PVC) in presence of poly(glycidyl methacrylate) (PGMA) has been studied using continuous potentiometric determination of the evolved HCl gas from the degradation process from one hand and by evaluating the extent of discoloration of the degraded samples from the other. The efficiency of blending PGMA with dibasic lead carbonate (DBLC) conventional thermal stabilizer has also been investigated. A probable radical mechanism for the effect of PGMA on the thermal stabilization of PVC has been suggested based on data reported by FTIR and elemental analyses. © 2008 Wiley Periodicals, Inc. J Appl Polym Sci, 2008     

Potential of using nonwoven polyester fabric (NWPF) as a packing media in multistage passively aerated biological filter for municipal wastewater treatment

The performance of a multistage passively aerated biological filter (PABF) packed with Nonwoven polyester fabric (NWPF) for municipal wastewater treatment was investigated under different operating conditions. The system was operated at different hydraulic retention times (HRTs) of 2.3, 1.72 and 1.38 h and corresponding to organic loading rates (OLRs) of 1.77, 2.15 and 2.9 kg BOD/m³. d. Increasing HRT and decreasing OLR, increased dissolved oxygen (DO) and consequently increased the removal rate of organic matters (87%), suspended solids (95.8%) and ammonia (88%). Profile results from different compartments showed that the major part of organic and suspended matters was removed in the upper layers of the system, whereas most of the suspended solids were trapped, while the nitrification process took place in the lower part of the PABF system because of the increase in DO concentrations. The results proved the advantage of using NWPF. It has pleated and rough surface which retain more biomass compared with plain surface. Excess biomass produced from PABF was negligible compared to conventional treatment systems.