This paper aims at highlighting the role of the XBRL in electronic accounting disclosure and how it contributes to the activation and efficiency of the stock market, in order to increase the awareness of Algerian institutions to the need of introducing this new technology in the accounting disclosure process. And consequently, to increase the quality of the financial reports, transparency and the integrity, because these latter is considered to be the backbone of confidence in both the financial and non- financial communities. Transparent and efficient financial reports, especially, of those listed on the Algerian stock market would achieve the centralization and the efficiency of investment and keep in touch with successful global markets. To achieve our goal, we conducted a field study to validate our plan above.The questionnaire was distributed to some practitioners in countries that applied the"XBRL" language (Malaysia, South Africa, Romania, Oman...). As we intended, first of all, to appreciate the tight relation between the language "XBRL" and the quality of the financial information. And, with the second part, we wanted to know the relationship between the language "XBRL" and the efficiency of the stock market.

The study examines the effect of board diversity and audit committee on earnings management of listed Deposit Money Banks in Nigeria, for low and high leveraged Banks. Earnings Management is measured using Chang, Shen and Fang (2008) model. All the 15 banks listed in Nigerian Stock Exchange as at 2015 were used for the analysis. Data were obtained from the financial statements covering the period 2008-2015. Multiple regression technique was employed, while the tool of analysis is Stata 13. The findings revealed that, all the variables have significant effect on earnings management of banks except for women directors and board size under the low leveraged banks, while board ownership was also found to have weak impact on earnings management under the high leveraged banks. Meanwhile, the findings also revealed that the explanatory variables under the low explained earnings management better than high leveraged.

There are various financial instruments traded on the market today in order to provide funds who are in need also offering financial options for the investors to evaluate their own funds. Real estate certificates are also included among the mentioned instruments within the market by the arrangements have been held recently. The real estate certificate is a capital market instrument issued in order to finance real estate projects of the issuers which are being built or to be built, having equal nominal values that represent certain independent units of a real estate project or a certain area unit of the indepent units. These certificates are considered to be a significant financial instrument to meet the funding need of construction firms within the construction industry which is having a dominant role in Turkish economy. The fundamental regulation-in force, relating the mentioned certificates in Turkey, is the “Real Estate Certificates Issue” within the Official Gazette of the Republic of Turkey published on July 5th, 2013 Number: 28698. The mentioned study is updated by the following changes which are issued in the Official Gazette published on 3rd August 2016 Number: 29790, 7th March 2017 Number: 30000 and 29th November 2017 Number: 30255. The aim of this study is presenting the real estate certificates within the framework of relating legal regulations and explaining the accounting process of the mentioned certificates.

The aim of the study is to reveal the relationship between Turkey's foreign trade and economic growth. In the analyzes, import, export and gross domestic product datas of 1923-2016 period of Turkish economy were used. For empirical examination has been benefited from causality tests. The result of the study is the existence of import-led economic growth.

Linearization of portfolio optimization plays a central role in financial studies, since linear problem allows for performing sensitivity analysis. This concept makes it possible to measure the variation of parameters as a result of variation of one parameter in a linear problem, without solving the problem from scratch. Based on the existing literatures, the approach of CVaR (conditional value at risk) method outperforms other methods, therefore in this study CVaR is applied as a constraint to change portfolio optimization problem into a linear problem. The coefficient of objective function of mentioned method for a portfolio includes average of asset returns, which are highly correlated. Here principal component analysis is employed to convert the correlation of the functional relations. An example of stock market is employed to substantiate the validity of method. Finally, we verify that the result of the presented method is closer to the ideal result.

Tax evasion has always being a bane to any tax system and there are diverse arguments on tax audit and investigation as a curb to this anathema. Based on this, the study examined the application of tax audit and investigation on tax evasion control in Nigeria. It specifically investigated the impact of desk audit-DEKAUD, field audit-FIAUD, back duty auditBAKAUD and tax investigation-TAXINV on tax evasion control in Nigeria. Relevant data was sourced fromthe administration of questionnaire and response from it analyzed with ordered logistic regression and Spearman's rho measure of association. It was revealed that from the Likelihood ratio test: Chisquare(4)= 325.11 [0.0000] and cut1 to cut11 that the overall model is significant at 5% levelin explaining the variation in tax evasion control in Nigeria. DEKAUD has a tendency to significantly reduce the occurrence of tax fraud in Nigeria (z=5.8743, p<0.00001); FIAUD indicated effect of 0.14 (z=, p=0.15720) on tax evasion control in the country; BKAUD showed significant influence on the control of tax evasion (z=4.1856, p<0.05); Tax investigation does not influence significantly the level of fraud control (z= 1.1017, p>0.05).It was concluded that tax audit in the form of desk and back duty are highly instrumental in the reduction in tax evasion, while tax investigation and field audit does not influence the control of tax frauds in the form of evasion. The study recommended that revenue agency should frequently engage in desk and field audit as they both contribute largely to the control of tax evasion in the country, while in the conduct of field audit and tax investigation, they must put in place adequate machinery in the form security personnel to help protect tax inspectors so as to mitigate the occurrence of fracas between tax inspectors and tax evaders which makes it impact not to be felt on tax evasion control.

This paper examined the influence of accountants’ ethics on fraud control. Data were drawn from a review of the literature on ethics and fraud. Using content analysis, major ethical considerations, fraud risk factors, control procedures and the effects of internal control system on fraud detection in Banks were identified. Scholars reached a conclusion in which fraud and fraudulent activities are found to have inflicted severe financial difficulties on Banks and their customers. However, findings indicate that the national value system greatly moderates the extent to which ethics, illustrating from the accountants perspective minimises fraud. Consequently, a fraud control model was developed highlighting the national value system factor in fraud management. The people’s behavioural pattern and philosophy anchored on ethical considerations should reflect honesty, integrity and value of knowledge. This will enhance productivity and good corporate governance. In this manner, fraud will be reduced.

Aimed at discrete character of complex pneumatic control valve, the 120 emergency valve was taken as an example. Under the theory of power bond graph and model approximation and introduction of controllable node and virtual element, the mathematic model of 120 emergency valve was built with uniform causality in different working modes. The created bond graph was utilized to research the effects of two structural parameters (aperture size of hole Ⅲ and gap between piston rod and push rod) on stability and emergency sensitivity. Analysis results show that when the diameter is designed as 2.5 mm, the selection range of the gap will be 3–3.5 mm; when the gap is designed as 3 mm, the diameter will be 2.5–2.7 mm. The proposed method may be commonly applied to modelling and analysis of other complex pneumatic control valve.

Hybrid vehicles have experienced a great boom in recent years thanks to the increasing spread of ‘parallel’ architectures, often realized by a planetary gear train (Hybrid Synergy Drive).

At the same time, an enhancement of electrical and electronic components has been experienced; these improvements especially concern reliability and efficiency. Particularly, the possibility of using supercapacitors with increasing storage performances makes possible to manage higher power flows together with a superior efficiency. These innovations may challenge the architecture used nowadays on medium size cars.

The hybrid series architecture, which allows the optimal management of the combustion engine, has been disadvantaged until now by the electric powertrain efficiency.

In the current scenario, this architecture could benefit from the above-mentioned technology, becoming a competitive alternative to the actual powertrain configurations. The aim of this article is the efficiency analysis, in order to evaluate the operational energy efficiency achievable thanks to this configuration. This analysis will be carried out considering all the possible working conditions of the different powertrains.

This study verifies the impact of the reduced fare programme for senior citizens on the step count per day, visited places and the modal share of public transportation. We targeted citizens over 65 years in Toyama City, Japan. The city operates a Special Pass Project, which allows passholders to receive a public transportation discount fare to the city centre from any station or stop in the city. We selected participants randomly and collected global positioning system log data and step counts for one month. Participants were instructed to wear the provided instruments, which we configured in advance. We analysed and compared the results between passholders and non-passholders. Passholders walked more than non-passholders. In addition, passholders visited more places in the city centre. Moreover, the modal share of public transportation between the city centre and home was higher for passholders than for non-passholders. These results confirm that the reduced fare programme supports active lifestyles for senior citizens.

Current techniques of travel demand management are based on the simulation of users’ reactions to implement strategies. Indeed, the correct modelling of user behaviour may be considered important for managing public transport systems. Especially in high-density contexts, performance of the masstransit system may represent one of the main tools of decision-makers for affecting users’ choices. In this article, we focus on the behaviour of users waiting on rail/metro platforms, analysing boarding priorities when a train arrives based on the traditional First In–First Out (FIFO) approach and comparing it with Random In–First Out (RIFO) behaviour. The approaches are then applied in the case of a real metro line operating under different congestion levels.

The Southern African region is made of nine countries, each with own local railway network. Most of the countries have railway links with neighbouring countries resulting in the formation of a wide railway network. Majority of the locomotives currently in use in most of these countries are diesel powered despite efforts made by some countries such as South Africa and Zimbabwe of electrifying some of their domestic railway routes. The focus of the research article is on the economic and environmental benefits that Southern African countries can draw from an electrified railway network. It is expected that there would be reduced railway locomotive exhaust fumes-related pollutants in the environment resulting in cleaner air. High-speed associated with electric trains would encourage the use of railway transport for both passenger and heavy goods movement which at the moment are dominated by road and air transport. The use of comparatively safe and cost-effective railway transport would not only improve trade among member countries but also attract foreign investment. It is expected that transportation of industrial raw materials and finished products would not only be efficient but also costeffective. Reduction of heavy goods traffic would besides decongesting the roads, but also bring down the cost of road maintenance. Finally, the damaging effects of the locomotives’ exhaust fumes would be avoided if railway electrification was embarked on. In addition, trade between member countries is expected to increase due to comparatively cost-effective fast movement of goods and passengers. The region is expected to save some foreign exchange due to reduced expenditure on road maintenance and locomotive diesel imports.

Congestion at ticket gatelines is a growing problem. According to travel projections in the UK, the number of journeys for rail passengers is likely to double over the next 30 years. This creates the need to improve passenger throughput while still maintaining revenue protection. The proposed solution is to create a ‘Gateless Gateline’: a concept in which a user can seamlessly authenticate the intent to travel in train stations using current ticketing media ranging from barcode and Bluetooth low energy to radiofrequency identification, as well as new and emerging ticketing media, specifically related to biometrics. This article focuses on utilizing three-dimensional (3D) face recognition based on photometric stereo using near-infrared (NIR) light to illuminate a face for a 3D construction and tracking for the purpose of associating the correct biometric identifier with the correct person in a high-throughput environment. Other biometric systems have also been investigated as part of this project, i.e. palm vein scanning based on passing NIR light through the palm. There are challenges when it comes to associating passengers with valid travel tokens in a system which is free flowing and does not have a modus operandi of a standard access gate where validation occurs one at a time, normally signalled by paddles opening and closing. The proposed solution to the above, alongside the known issues associated with scaling biometric solutions, is reported in this article.

The project brief was simple: create future proof guidelines for a form of transport that has rarely been seen and technology capabilities that have only recently been imagined while ensuring safety and ease of use for government and industry. Automated vehicles are predicted to revolutionize mobility in a way that we have not seen for over a hundred years. Increased safety on the road, improved efficiency and beneficial environmental impacts are all presented as potential benefits of more automated vehicles. However, to achieve these outcomes the technology must be trialled and tested in many different environments. In Australia, establishing that the technology can perform is crucial to both the public as users and to governments, who aim to ensure public safety. For example, it is necessary to confirm that the red dust in Central Australia doesn’t inhibit cameras and that movement projection algorithms can accurately predict the course of a kangaroo. Additionally, any guidance must work within the existing transport regulatory framework. The federated states and territories of Australia manage operational aspects of road transport regulation, while the Commonwealth Government manages standards for imported vehicles or those manufactured in Australia. This article describes the policy context in which the National Transport Commission worked with the state, territory and federal governments as well as industry stakeholders to design a flexible but robust set of guidelines that both encourages trials in Australia and ensures the safety of other road users.

Many initiatives have been implemented in an attempt to reduce traffic congestion and to encourage more sustainable commuting choices, however, rarely has before–after research been undertaken to measure the effect of introduction of such initiatives on commuter attitudes or behaviour. The University of Waikato, New Zealand, introduced parking charges for approximately 14,000 staff and students on their main campus in 2016, but not on a satellite campus in another city. A multimethod approach including questionnaires, naturalistic observation and photo-voice methodologies was used to assess the impact of parking fees on commuting attitudes and behaviour of staff and students. The heavy reliance on car travel was undiminished after the introduction of parking fees. Commuters still arrived by car, but more parked off-campus or became willing to pay parking fees after they were introduced. There was no increase in bus travel or cycling after the introduction of parking fees. Strategies to decrease car commuting to university campuses include higher parking charges, removing any ability to pay in advance for parking, reducing the availability of free parking nearby, subsidizing bus travel for staff and students, improving cycle and pedestrian access and related facilities, promoting the health benefits of active transport, policies that encourage students to spend more time on campus, ensuring that bus schedules align with lecture times and provision of student housing on or near campus.

The number of urban residents is growing by nearly 60 million people every year. With the growth of cities and urban population, cities are becoming more and more the centre of worldwide development. Being the centre of growth, cities have the additional responsibility to make development activities more sustainable and environmental friendly. Increasing urbanization requires new and innovative ways to manage the complexity of urban living and to target problems of energy consumption, resource man- agement and environmental protection. The present study is mostly based on investigating managers of transport and forwarding companies, public transport administrators and city board representatives within the Pomeranian region. Moreover, research is carried out on the analysis of practical solutions in the field of smart mobility solutions in European urban areas, documents of the European Commission and the publications prepared by industry associations. The theoretical part of the article is based on existing materials from public resources and author’s research experience. The study result is an authorial framework of goods’ and people’s transport organizer within metropolitan areas with conceptual modelling of their functions. Thus, the organizer’s specialization does not depend on the subject of transportation, and their range comprehensively covers goods flows as well as passengers’ transportation. Analysis of solutions within goods and people flows within the metropolitan areas and the studies carried out on the basis of investigating key stakeholders shows that the best way within smart mobility concepts is employing specialized integrator – City Transport Organizer.

Many existing industrial solutions for transportation services assume tightly controlled optimization scenarios where the price does not take a centre role, yet these models heavily rely on long-term business relationships between shippers and carriers. a number of solutions have been proposed for auction-based marketplaces with market-clearing property models, where supply and demand dictate the price and through innovation and improve transparency and efficiency. The overall objectives of these efforts are aimed at finding a balance that assures maximizing capital efficiency, maximizing customer satisfaction and minimizing logistical complexity, hence maximizing scalability. Some uber- like experiences have recently emerged, introducing fresh perspectives and putting back the spotlight on the potential of digital markets in transportation industry. In this article, we take a look at how the ideas of digital marketplaces have evolved over time and specifically consider how the lessons learned can be applied in last-mile urban logistics. We also present a prototype marketplace for urban city logistics and draw initial conclusions.

The vast majority of studies on urban travel demand focus on the effect on the demand of one travel mode given a change in the characteristics of that same transport mode, for example, own-elasticities. comparatively little is known about cross-elasticities of demand. In particular, there is a need for a better understanding of the underlying mechanisms of modal substitution, that is a better understanding of cross-modal diversion factors (Dfs) defined as the proportion of people who leave mode a and switch to mode b. The purpose of this article is to investigate what factors explain variations in Dfs across transport modes, submarkets and policy measures. using a recently developed empirical travel mode choice model for the Oslo area, we simulate over 10,000 different Dfs by systematically changing the underlying transport modes, submarkets and policies (size, direction and type of change). With descrip- tive statistics, we show how the Dfs vary on a general level. most results are immediately intuitive, for example that car drivers mostly substitute to walk for short-distance trips but that those Dfs diminish rapidly with increasing distance. Interestingly, we find rather high Dfs across different forms of public transportation. With successive regression analyses we show that the number of available alternatives and relative market shares significantly affect Dfs.

Coconut shell and husk are two biomasses wastes abundant in most of the coastal countries. However, despite their enormous potential as energy sources, they are hardly studied and their thermal characteristics are still not well known. In this study, both biomasses are thermally degraded through thermogravimetry (TG-DTA) and their pyrolysis product yield such as char, tar and gases are analyzed. The TG-DTA results show that pyrolysis of biomass consists of three stages. Three stages can be out- lined as: (1) dehydration process for temperatures below 122°C, (2) pyrolytic cracking from 122°C to 400°C, stage consist of two exothermic simultaneous processes where hemicelluloses, cellulose and lignin are decomposed and a high amount of volatile matter formation occurs and (3) the last endother- mic decomposition of the lignin at temperatures above 400°C. From the pyrolytic results, it is showed that the char and gases yields were increased with the decrement tar. The gas-evolving profiles from pyrolyzing the coconut shell and husk components in a packed bed, monitored by a GC-TCD and a GC-FID, showed similar behavior. H₂ was released out at a higher temperature (>450°C) and it got the maximum rate at 700°C then it decreased. CO₂ was released out at 130°C –750°C and got the maximum releasing value at 300°C –400°C. The released CO showed almost similar pattern with that of CO₂. However, the release rate was lower than CO₂ and the maximum release rate of CO was found at 300°C –400°C. CH4 was released out at the temperature between 200°C –850°C, and it got the maximum rate at 550°C. The releasing of hydrocarbon was generally very low.

Carbon dioxide (CO₂) is an appropriate replacement for conventional refrigerants due to its low global warming effects. However, its application within a traditional refrigeration compression cycle leads to low thermodynamic performance due to the large expansion losses in a throttling process. The application of ejectors allows reducing these losses. Many scenarios of ejector-based cycles have been proposed. Among them four different configurations may be distinguished: an expansion work recovery cycle (EERC), a liquid recirculation cycle (LRC), an increasing compressor discharge pressure cycle (CDPC) and a vapor jet refrigeration cycle (VJRC). This study deals with the comparative analysis of these cycles. In order to study the performance of the cycles, the numerical simulations are developed using EES software. Two performance criteria, energy efficiency (COP) and exergy efficiency are evaluated for each cycle. The highest values of these criteria point to the most thermodynamically efficient cycle. The results show that the EERC has the highest COP and exergy efficiency compared to other cycles. For example, the COP of the EERC is 3.618 and the exergy efficiency is 9.68%. The COP (resp. exergy efficiency) is approximately 23.3% (resp. 23.3%), 24.9% (resp. 25.5%) and 5.6 times (resp. 56.2%) higher than the corresponding energy and exergy efficiencies of LRC, CDPC and VJRC. Moreover, in comparison with a basic throttling valve cycle, the COP and exergy efficiency in EERC are higher up to 23% and 24% correspondingly. The detailed exergy analysis of EERC cycle has pinpointed the equipment where the major exergy losses take place. The largest losses occur in the evaporator (about 33% of the total exergy destruction of the cycle) followed by the compressor (25.5%) and the ejector (24.4%).

Build–operate–transfer (BOT) model is extensively used by many governments throughout the world for the realization of large-scale transportation projects. As a rapidly developing economy, Turkey is also increasingly referring to the use of the project finance model for delivering large-scale transport, energy and healthcare projects. Istanbul, located between Asia and europe, is one of the most important economic centres of the country. Based on this model, rapid urbanization and population growth are taking place in the city. Growing concerns over the insufficiency of the existing two bridges in meeting the traffic demands of cross-continental transport in Istanbul have urged central and local governments to find a solution for the traffic congestion problem. As a result, the government of Turkey has announced plans for building a new bridge to connect the european and Asian sides in early 2011. The construction of the new Bosphorus Strait Crossing Project which has started in 2012 is expected to be completed by 2015. however, since its launch, the project faced many diverse challenges such as delayed tendering, legal disputes, financial problems and social opposition. This study aims at exploring the problems experienced and the solutions developed as a response to these problems in the implementation and management of the third Bosphorus Bridge and the Northern Marmara Motorway Project using a case study approach. To achieve this objective, necessary data regarding the tendering process were collected from various sources. The conclusion provided at the end of this case study is expected to enhance our understanding of the use of BOT model for transport projects and risk allocation between different actors. Both public and private sector participants that are involved in delivering transport projects using the BOT model may benefit from the findings of this study.

The possibility of reducing the flow losses in low-pressure turbine stage has been investigated in an iterative process using a novel hybrid optimisation algorithm. Values of the maximised objective func- tion that is isentropic efficiency are found from 3D RANS computation of the flowpath geometry, which was being changed during the optimisation process. To secure the global flow conditions, the constraints have been imposed on the mass flow rate and reaction. Among the optimised parameters are stator and rotor twist angles, stator sweep and lean, both straight and compound. Blade profiles remained unchanged during the optimisation. A new hybrid stochastic-deterministic algorithm was used for the optimisation of the flowpath. In the proposed algorithm, the bat algorithm was combined with the direct search method of Nelder-Mead in order to refine the best obtained solution from the standard bat algorithm. The method was tested on a wide variety of well-known test functions. Also, the results of the optimisation of the other stochastic and deterministic methods were compared and discussed. The optimisation gives new 3D-stage designs with increased efficiency comparing to the original design.

In the construction industry, the popularity of sustainability and its benefits have been on the rise in recent years. Alas, with various building sustainability assessment schemes on the market, there is still no single general method for a comprehensive and inclusive design and building process for sustainable buildings. The literature describes several barriers of entry preventing actors in the industry from seeking sustainability certifications and prioritizing design methods, supporting sustainability in greater numbers. In the newly developed tool, “DGNB building certification companion: Sustainable Tool for Assessment, Planning, Learning, and Engaging (STAPLE)”, a new Excel-based, interactive, and iterative education focused platform is introduced, intended to engage dialog among stakeholders, building owners, and decision makers, and the assigned group team leaders, based on the five DGNB topics. In order to establish common levels of knowledge, terminology, and understanding for proper interdisciplinary discussions, which would result in suitable and timely decisions, personal and profes- sional development is enabled by imbedded educational documents in multiple formats throughout the tool as plain-language, easily digestible summaries of various topics regarding sustainability and the DGNB certification scheme. The identified barriers are described in the tool followed by a solution to overcome them. The tool, tested at multiple stages of development and moulded by many individuals both within and outside of the sustainable building industry, has shown to achieve the primary goals of assessment of individual’s current knowledge, educating through multiple stages and formats, and the inspiring of conversation among team members through a graphical display of opinions. Based on user feedback, the conclusion was that this is a desired product on the market. This new approach is expected to dramatically reduce misunderstandings, conflicts, and mistakes during a sustainable design process, helping the design team plan a project to possibly obtain the highest DGNB score if desired and properly documented.

With the increasing world’s energy demand along with the constantly expanding field of natural gas exploitation around the world, dry reforming of methane has gained increasing attention. Through this technology, natural gas can be converted into syngas, which is a well-known building block used for the production of alcohols and fuels. This technology has become an interesting approach for the valorization of a variety of CO₂ streams and for the reduction of the natural gas carbon footprint. In this work, attention will be given to the different reforming technologies used at industrial scale, followed by an investigation of the different approaches used for dry reforming of methane. Furthermore, focus will be given on how natural gas reforming could be used as a vehicle to store renewable energy while trying as well to reduce the carbon footprint of this technology. The technology presented in this work was previously developed by Hydro Québec and uses a cheap and available catalyst in addition to electricity to convert methane and carbon dioxide into syngas. Reactants conversions were up to 99% and the syngas produced had a H2/CO ratio of 1 for over 200h.

The Saudi arabian government is investing more than $22 billion to build a metro system in riyadh, with a total length of 176 km across 6 lines and 85 stations. The metro network has been under construction since 2013 and is expected to be in operation by 2019. One of the biggest challenges faced by the authorities early on is as to how to manage traffic during the construction period especially that the metro lines running along some of the busiest corridors in the city. Specifically, the construction of Metro Line 5 was expected to cause major disruptions due to several reasons, among them are significant traffic volume uses this main road; wide extent of construction works (very large worksites, undertaken at busy junctions); concurrent execution of other infrastructure projects in the vicinity; and the presence of more than 20 government entities along the road. In this regard, a comprehensive Strategic Traffic Management Plan for Line 5 was developed based on the state-of-the-art traffic manage- ment practices, supplemented by innovative and outside the box concepts. The plan included physical measures such as converting major roads into temporary one-way roads, parking management, junction improvements, modifications to traffic signals as well as soft measures such as shifting working hours for some government entities and a very aggressive community outreach programme. The plan was implemented in 2015, and was well received by the general public in addition to the key stakeholders. This article presents the thinking behind the development of this plan – including a benchmarking exercise against projects of similar nature/scale, adopted methodology, challenges faced, expectations of the plans’ performance before implementation as well as the results after the implementation of the plan. This successful story could be a good case study for forward thinking of managing traffic in mega infrastructure and urban transport projects.

In recent decades, the industry has observed a significant shift towards the use of renewable energy, such as solar, wind and geothermal. The Chilean scenario has not been an exception, and much pro- gress has been made in sustainable energy prospection and implementation, especially in the electricity sector, where solar and wind power amount 2300 MW, and since April 2017, the first geothermal power plant (48 MW) has come into operation. In the area of low enthalpy geothermal energy, the use is around 19 MW.

The Faculty of Physical and Mathematical Sciences at the University of Chile has been contributing to this transformational process, with its Sustainable Campus initiative. The first step of this initiative is the introduction of renewable energy on site, which has been achieved through the installation of a solar photovoltaic plant of 15 kW. Along this line, the design and implementation of a geothermal air conditioning system (HAVC) is underway, which will serve the classrooms and offices in the tradi- tional engineering building of the campus. The technology to be used in this project is the Ground Heat Pump (GHP).

The present paper includes an introduction of the applications of low enthalpy geothermal energy in Chile, a description of the Office of Engineering for Sustainable Development at the Faculty of Physical and Mathematical Sciences, and the design of a geothermal HAVC system in the university campus, considering economic, environmental, technical and social aspects. Besides the operation of the GHP, the system will be used for teaching purposes to incorporate sustainable development in the curriculum of the university. The expected savings of the geothermal system versus an aerothermal design are 41,070 kWh annually, considering both cooling and heating.

The world's economy is fuelled by energy. Depletion of resources and severe environmental effects resulting from the continuous use of fossil fuels has motivated an increasing amount of interest in renewable energy resources and the search for sustainable energy policies.
The changes required to progress from an economy mainly focused on hydrocarbons to one taking advantage of sustainable energy resources require considerable scientific research as well as the development of new engineering systems. Energy policies and management are of primary importance to achieve the development of sustainability and need to be consistent with recent advances in energy production and distribution.
In many cases, the challenges lie as much in the conversion from renewable energies (wind, solar, etc) to useful forms (electricity, heat, fuel) at an acceptable cost (including damage to the environment), as in the integration of those resources into an existing infrastructure.
The diverse topics covered by these papers involved collaboration between different disciplines in order to arrive at optimum solutions; including studies of materials, energy networks, new energy resources, storage solutions, waste to energy systems, smart grids and many others.
The Editors are especially grateful to the reviewers, as well as to the authors for their contributions.

The Editors
2017

In a 2015 study, policy measures to promote electric mobility were examined with regard to their acceptance by consumers in 20 countries on five continents. results of a choice-based conjoint analysis showed that people appreciate monetary incentives; however, the application of the Kano method to detect dissatisfaction with missing features revealed that charging networks are absolute must-haves. In the same 20 countries, the present article examines the actual effects of three kinds of policy measures: monetary incentives, traffic regulations in favour of electric vehicles (eVs), and investments in charging infrastructure. The outcome variable was the percentage of new registered eVs in 2016. all policy measures had positive direct effects; however, the number of existing charging stations as a moderator increased the effect of monetary measures over proportionately. The widespread uptake of eVs has been challenged by the problem that people do not accept eVs as long as the number of charging stations is insufficient, and the low number of eVs has not stimulated sufficient demand for charging stations yet. The results demonstrate how this ‘chicken or the egg’ dilemma will be resolved over time as soon as a sufficient number of charging stations are available. because the effects of monetary measures and charging stations reinforce each other and the number of charging stations is accumulative, governments will be able to offer fewer and fewer monetary incentives to produce the same promoting effects.

The regularity is a key performance in the operation of a metro service, because it is normally affecting a large set of secondary performances: for example, punctuality, energy efficiency, economic efficiency and vehicles availability. Human behaviours are affecting the regularity by introducing deviations between planned and actual times in various operational phases of metro services: for example, dwelling times, acceleration/deceleration times, inversion times at terminus and headways themselves. The variability in passengers’ flows is one of the most relevant parameters affecting mainly dwelling times and finally headways themselves. In this framework, this article is specifically presenting the results of experimental surveys on metro services operating in rome (lines a and B). On these lines, a systematic counting of passengers boarding and alighting in the most crowded stations, combined with simultaneous measurement of actual dwelling times and headways, has been performed. The collected results have been analysed, cleaned by inconsistent data and statistically interrelated looking for significant trends to compare with the most consolidated theoretical models and to quantify the effects in line with the literature developments, including those by the authors themselves. Finally, the focus is on the most relevant quantitative outputs and the mainly identified and outlined further research needs.

Deregulation and/or privatization of railway systems has been adapted in many developed countries, aimed at improving economic performance. literature on railway performance mainly focuses on the effects of reforms and on liberalization itself as well as measuring performance indicators for the management of assets in the railway industry. although these management reforms on the maintenance and operations of rail infrastructures are generally found to have contributed to improving trends of rail safety and safety performance, there is not much evidence from research to support this. There is also little work on how the lessons from restructuring can apply in developing countries. Identifying approaches that can revitalize railways in developing and emerging economies while raising standards of safety and operational performance is the objective of this article. Presented are some of the specific lessons from developed countries and how they can be applied in developing economies’ railways, noting that it is not generally feasible to adopt best practices because of social and/or economic constraints. Only where there is a significant foreign investor is there the potential to replicate best in class technology and operational practices, so the presentation will identify areas where less well-funded railways can adopt lessons from developed countries – using both historical and current international benchmarks. The originality of this approach lies in establishing the relationship between performance and safety in the era of reforms and liberalization of the rail industry. The article analyses publicly available data to suggest how rail safety considerations have impacted in a more general way upon railway performance, and by extension, derive lessons for emerging and developing economies.

The de-carbonization of the transport sector is a particularly complex challenge as greenhouse gases are delocalized and diffused. Therefore, the problem has to be tackled from the source of the emissions, and efforts in the scientific and technological field must seek out new energy vectors of high density, neutral in CO₂ and based on renewable energy that meet the sector demands and requisites. This could be the case of the synthetic natural gas which can be produced through the Power to Gas process (PtG). This process, originally developed by the German institutes ZSW and IWES, converts electricity into synthetic natural gas (SNG) via the methanation of CO₂ together with H₂ from water electrolysis. The energy content of the produced methane comes from the primary source for power generation (optimally renewable electricity) and it is possible to produce a CO₂ neutral fuel by capturing the carbon emissions from an existing source. In addition, the PtG process can be seen as a new concept of renewable energy and CO₂ hybrid storage. This paper identifies the possibilities that the Power to Gas technology offers for the production of sustainable methane and the existing potential for the symbiosis of industrial sectors through optimization of their waste streams of matter and energy. In particular power and transport sectors are considered and the outline of a small facility for the generation of synthetic natural gas from renewable electricity and its consumption in the vehicles of a road freight company is presented as a case study. Not only the technical feasibility but the economic viability of the process and the environmental improvements resulting from the use of a renewable fuel free of CO₂ emissions in terms of carbon footprint are evaluated.

This research addresses the issue of sustainability of high-income monofunctional urban structures sprawled within the city, considering as case study Alphaville Barueri residential condominiums in the metropolitan area of São Paulo. The aim was to investigate how these spatial structures are truly sustainable by checking their environmental efficiency according to their mobility behavioural pattern. The methodology used was to calculate the estimated transportation diseconomies produced by these sprawled urban structures through their quantification and establishment of monetary value to three indexes of environmental costs – fuel consumption, air emissions and time in congestion – and then to compare the results of the study case (the Alphaville Barueri residential condominiums) with the results of three control areas (the districts of Morumbi, Alto de Pinheiros and Pacaembu), which have been defined according to their similarity of urban design and socio-economic profile, but with different location taking into consideration the centre of the metropolis. The results pointed out that the Alphaville Barueri residential condominiums are not environmentally efficient in accordance with the defined criteria, when compared to the results of all three control areas, even if one of these areas, Morumbi, showed to be less environmentally efficient than all areas, including the case study.

This study aims at empirically examining the influences of bankruptcy prediction score, institutional ownership, managerial ownership, independent commissioner, and board meeting on the going concern audit opinion for the period 2008-2014. By using purposive sampling technique, data were gathered from annual audited financial reports of 11 companies that were taken as research sample. All of the reports were published by Indonesia Stock Exchange from 2008 to 2014. Based on the logistic regression model, the study found that the bankruptcy prediction of Altman Z-Score has a significant influence on the release of going concern audit opinion by the auditor. Meanwhile, the other independent variables showed insignificant influences toward the going concern audit opinion for non-bank financial institutions listed in Indonesia Stock Exchange.

The objectives of this paper are to ascertain and assess the role of the Public Accounts Committee (PAC) in Maltese public finance, analyzing its operational effectiveness and the barriers to it, and assessing its relationships with major stakeholders. The research methodology involves the conduct of nineteen semi-structured interviews, attendance to one PAC sitting, a review of applicable PAC transcripts, and an examination of relevant legislative pieces governing the PAC. The study finds that PAC is fulfilling a wide proportion of its remit, recently exercising an improved role. However, the reoccurrence of errors and weaknesses within the public sector highlights the need for the Committee to investigate further areas falling within its scope, thus acting as a deterrent to the misuse of public funds. Additionally, improvements in the PAC’s operational effectiveness are called for, particularly with regard to its structure and member composition, as well as its communication of end results and follow-ups. The appointment and participation of technical expertise in PAC meetings, and the widening of the PAC’s mandate to incorporate broader topics would also be conducive to enhanced effectiveness. In addition, while the Committee’s relationships with its major stakeholders are deemed positive, it is evident that there is still room for improvement. The PAC is instrumental in the conduct of effective financial scrutiny and oversight, which in turn enhances its contribution to the proper management of Maltese public finances. Yet, achieving a strong impact may be restricted by the existence of barriers that are impeding the Committee’s operational effectiveness. While the surmounting of such obstacles becomes highly relevant for the PAC to retain its watchdog function, the maintenance of effective relationships with its main stakeholders is also necessary if it is to make the most of such links. It is hoped that this paper contributes to +further progress in the PAC’s operations and in the public sector’s use of public resources.

Objective of this study is to examine the economic value added (EVA) approach, which is a value-based performance measurement method, and the calculation of this approach from the methods used to measure financial performance. In this context, an application has been presented for the examination and comparison of holdings and investment companies in terms of economic value, using annual financial statement data for holding companies and investment companies traded in Stock Exchange Istanbul 100 index in Turkey in 2016. In the application part, 9 holding and investment companies were examined and compared in terms of economic added value. In the practice part of the study, companies that can access paid dividend data for the last five years are included in the holding companies and investment companies sector, while the other companies are excluded from the research. According to the findings of the study, when the holdings and investment companies examined in the study are evaluated in general for 2016, Hacı Ömer Sabancı Holding Joint Stock Company, which has the highest EVA value and the best financial performance. (-787.415.407,65) and Eczacıbaşı Investment Holding Partnership Joint Stock Company (- 117.686.290,15) cannot create value for their shareholders with EVA value, whereas the existing Have consumed their capital. It has been found that they cannot create shareholder value with EVA value and consume their existing capital instead of creating value.

Achieve to optimal financial leverage for achieving to maximum profitable, value and minimum capital are important topics of research that studies by financial experts. Economic researchers found that capital structure and firms performance are affiliated with each other but the relationship between them according to financial operations in international affairs is not the same and according to country type depends on financial structure and economic conditions. The aim of the present article is to evaluate the mutual relationship between financial leverage and firm performance concerning the moderating role of the firm size. Given that, the financial information of 108 listed companies in Tehran Stock Exchange were used during the financial period from 2005 to 2014. Multivariable regression model was employed for hypotheses testing. The results indicated that there is a positive and significant relationship between financial leverage and firm performance and the firm size has no moderating effect on the relationship between the two variables. Moreover, there is a negative and significant relationship between financial leverage and the changes of firm performance and the firm size has no moderating impact on these relationships. On the other hand, there is a negative and significant relationship between firm performance and the changes of financial leverage. Similarly, the moderating effect of the firm size was not significant in these relationships.

Since audit has a great importance in preventing, consulting and finding cases of funds misuse, it was thought of analyzing the factors that contribute to increasing the efficiency of internal audit in the public sector which would help to set proper and more transparent governance of public financial resources. This study investigated the relationship between effectiveness and contributing factors. The data for the study were collected through an online questionnaire and direct hand-outs of such. The results of the empirical analysis proved that effectiveness has a positive relationship with internal audit quality, the competence of the internal audit team, the independence of internal audit, as well as with the support of internal audit from the management. Moreover, it was confirmed that audit quality is the fundamental element of the effectiveness of internal audit since it was among the most influential factors in the sample.

Copper pesticides used to control fungal and bacterial diseases such as grapes downy mildew (Plasmopara viticola), downy mildew of hops (Pseudoperonospora humili), apple scab (Venturia spp.), fireblight (Erwinia amylovora) and potato late blight (Phytophthora infestans), play an important role in plant protection. In a 2013 survey of copper application in Germany we found, that while the amounts of copper used per hectare in conventional grape (0.8 kg ha^-1), hop (1.7 kg ha^-1) and potato-farming (0.8 kg ha^-1) were well below those used in organic farming (2.3, 2.6 and 1.4 kg ha^-1, respectively), they were nearly identical to those used in apple growing (1.4 kg ha^-1). Due to the smaller farming area, only 24% (26.5 tonnes) of the total amount of copper was applied in organic farming compared to 76% (84.8 tonnes) in conventional farming. Since 2001, the Federal Agency for Agriculture and Food (BLE) promoted a copper research and minimization strategy which was funded with a total of C10.2 million. Our status quo analysis of research in this field shows that some progress is being made concerning alternative compounds, resistant varieties and decision support systems. However, it also shows that new approaches are not yet able to replace copper pesticides completely, especially in organic farming. In integrated pest management, copper preparations are important for the necessary active substance rotation and successful resistance management. The availability of such products is often essential for organic grapes, hops and fruit production and for extending the organic farming of these crops. We conclude that the complete elimination of copper pesticides is not yet practicable in organic farming as the production of several organic crops would become unprofitable and may lead to organic farmers reverting to conventional production. Several existing copper reduction strategies were, however, identified, and some, like modified forecast models adapted to organic farming, varieties more resistant to fungal diseases and new alternative products, already contribute to copper minimization in German agriculture.

Legume-based leys (perennial sod crops) are an important component of fertility management in organic rotations in many parts of Europe. Despite their importance, however, relatively little is known about how these leys affect weed communities or how the specific composition of leys may contribute to weed management. To determine whether the choice of plant species in the ley affects weeds, we conducted replicated field trials at six locations in the UK over 24 months, measuring weed cover and biomass in plots sown with monocultures of 12 legume and 4 grass species, and in plots sown with a mixture of 10 legume species and 4 grass species. Additionally, we monitored weed communities in leys on 21 organic farms across the UK either sown with a mixture of the project species or the farmers’ own species mix. In total, 63 weed species were found on the farms, with the annuals Stellaria media, Sonchus arvensis, and Veronica persica being the most frequent species in the first year after establishment of the ley, while Stellaria media and the two perennials Ranunculus repens and Taraxacum officinale dominated the weed spectrum in the second year. Our study shows that organic leys constitute an important element of farm biodiversity. In both replicated and on-farm trials, weed cover and species richness were significantly lower in the second year than in the first, owing to lower presence of annual weeds in year two. In monocultures, meadow pea (Lathyrus pratensis) was a poor competitor against weeds, and a significant increase in the proportion of weed biomass was observed over time, due to poor recovery of meadow pea after mowing. For red clover (Trifolium pratense), we observed the lowest proportion of weed biomass in total biomass among the tested legume species. Crop biomass and weed biomass were negatively correlated across species. Residuals from the linear regression between crop biomass and weed biomass indicated that at similar levels of crop biomass, grasses had lower weed levels than legumes. We conclude that choice of crop species is an important tool for weed management in leys.