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Two credit risk models are applied to calculate the expected distance to default in a sample of 32 Chinese listed non-financial companies from 2006 to 2011.One is the KMV(Merton) model under the machinery of option pricing and other is the market based model relied on a conditional version of capital asset pricing model(CAPM). The results imply that both KMV model and the market based model are va
This paper audits, theoretically and empirically, how the nature of the renewal projects in Turkey and social justice are closely connected by looking at spatial and urban politics with a special emphasis on the case of Tarlabasi Neighborhood in Istanbul. Based upon the theoretical framework of Henri Lefebvre's spatial triad, the study aims to illustrate the socio-economic and socio-cultural c
At this point, railway switching systems exchange takes about 15 hours to perform. It means that long time is needed if performing multiple exchanges. It even means that traffic on tracks has to be disallowed for a long amount of time. It costs maintenance companies like Infranord a lot of money to keep tracks free from other vehicles during the work. The company needs to purchase special permissi
Rätten till arbete, som utgör en av de mest centrala mänskliga rättigheterna och även ses som en grundläggande förutsättning för samhällsintegrering, är införlivad i en rad olika MR-instrument. Lika tillgång till arbetsmarknaden är en mycket viktig aspekt av denna rättighet, som även utmanar den underliggande norm om universalitet som präglar det internationella ramverket för mänskliga rättigheterThe right to work, as one of the most crosscutting and enabling socio-economic rights, as well as a basic requirement for social integration, is enshrined in a wide range of international human rights instruments. Equal access to the labour market is one important aspect of this right that challenges the underlying universality norm of the human rights regime by imposing on states the obligation t
Nowadays consumers are becoming more aware of the environmental impacts caused by their consumption habits. As a result their consumption patterns and information needs have changed. Currently, product-related environmental information for ICT consumer products is not easily available. In addition, the general perception of ICT practitioners is that private consumers are not asking for environment
Purpose: The purpose of this research is to empirically estimate the divestiture announcement effect on the shareholder’s wealth for metal-producing companies using the event study methodology and to analyze firm and industry-specific factors that can affect/cause these announcement effects by implying the cross-sectional analysis. Data Selection: Research sample contains information regarding d
Achieving climate policy goals and addressing the challenges of energy security requires very significant efforts from many private and public actors to bring immature technologies to competitiveness. Algae-based biofuel production is an emerging industrial sector that has great promise with regards to many sustainability aspects but faces many challenges in order to attain any meaningful market p
Sustainable development is now a part of environmental, social, and economic agendas all over the world. Sustainability projects are cropping up in urban areas, including projects in the housing sector aimed at sustainable regeneration. Simultaneously, it is now recognized that public participation is an essential character of implementing change. And within sustainability participation, it is con
Trinidad and Tobago is a country with a long history in the hydrocarbon industry. This makes the country one of the wealthiest in the Caribbean region and most poised to be at the edge of innovation and sustainable technology use. However, unsustainable urban development practices have resulted in increasing negative impacts. Governments world-wide have been introducing policies and regulations to
The paper aims at developing set of indicators to evaluate energy efficiency progress in the Arab World considering the current realities of the countries. In particular, the paper explores the current situation of energy efficiency in the region, provides in depths description and analysis of the main drivers and barriers, identifies the essential features of good energy efficiency governance and
The purpose of this study was to analyze selected passages of the short story The South Wind by the Iraqi writer Abd el-Malik Nuri, which was done in order to find out how the description of characters, setting, and events, are related to class. The main research questions dealt with how the use of word choice and imagery are used in connection to the setting and characterization, but also how the
This thesis evaluates the institutional feasibility of the New Zealand Emission Trading Scheme (NZ ETS) policy during its formation, design, and implementation as well as how the related changes in the regulatory framework affected the policy and market behaviour. Using a set of complementary analytical methods, the research investigates the institutional developments and complexities of the NZ ET
Speech recognition is available on ordinary personal computers and is starting to appear in standard software applications. A known problem with speech interfaces is their integration into current graphical user interfaces. This paper reports on a prototype developed for studying integration of speech dialogue into graphical interfaces aimed towards programming of industrial robot arms. The aim of
A need for autonomous electro-mechanical machines performing tasks that can save human efforts and even be deployed in hazardous environments along with the research in the field of human mind and body has led to new fields often called AI Robotics. To provide a mean for stimulating students and researchers around the world for promotion of this new field, an annual world championship, Robocup, ha
Syftet med denna undersökning är att mot bakgrund av nationella handlingsplaner och riktlinjer för funktionsnedsattas inkludering undersöka hur dessa överensstämmer med musik- och kulturskolors verksamhet. Med musik- och kulturskolan i fokus syftar också denna undersökning till att kritiskt granska inkluderingsarbetet i den reguljära verksamheten vid utvalda musik- och kulturskolor. Även musikpedaTitle: Inclusion of pupils with functional deficits in music and cultural schools The major aims of the study are to investigate the extent to which the activities of music and cultural schools that many children in Sweden can attend in their free time are consistent with the plans and guiding principles adopted in Sweden for primary and secondary school education, to examine critically the inclus
The Chinese economy in central and western regions is not as developed as eastern coast. There is a big discrepancy between various regions in economic development. The disparities of Chinese regional economy have become the main problem, since it affects China’s continued economic prosperity, social stability, national unity and it’s attracted by world attentions. This study intends to analysis t
Bus rapid transit (BRT) systems have been recognized around the world by combining the advantages of urban rail transit systems with the flexibility and low cost of conventional bus systems. Although its introduction in different cities has helped to reduce greenhouse gas emissions and improve air quality, one of the major criticisms for these systems is that buses are usually powered by diesel, w
The Chinese economy in central and western regions is not as developed as eastern coast. There is a big discrepancy between various regions in economic development. The disparities of Chinese regional economy have become the main problem, since it affects China’s continued economic prosperity, social stability, national unity and it’s attracted by world attentions. This study intends to analysis t
Ukraine is a country with huge wind energy potential. And yet it remains heavily dependent on imported fuel from Russia. Despite the existing potential the development of the wind energy sector in Ukraine faces many obstacles. Lack of transparency in the market and lack of the effect regulations both have negative impact for the development of wind energy sector. Political instability and continuo
