Optimal Collective Investment in Generic Advertising, Export Market Promotion and Cost-of-Production-Reducing Research

Optimal investment rules are developed for a producer agency investing in domestic-market generic advertising, export market promotion, and cost-of-production-reducing research. These rules are derived assuming either maximization of producers' surplus or social surplus. The form of the optimality rules differs according to which objective is pursued. Fixed producer agency budgets are also allowed by incorporating a constraint limiting total expenditure on the three activities. Addition of such a constraint substantially alters the structure of the optimal investment rules. Differences in these rules highlight the importance of accounting for the financing mechanism when modeling optimal checkoff fund investment decisions. Optimality rules are simulated using data for the Canadian beef sector. Results suggest historic underinvestment in domestic-market generic advertising but overinvestment in export market promotion. Sensitivity of simulation results underscores the difficulty in assessing optimality of historic producer investment in cost-of-production-reducing research.     

Regulation Fair Disclosure and Earnings Information: Market, Analyst, and Corporate Responses

With the adoption of Regulation Fair Disclosure (Reg FD), market behavior around earnings releases displays no significant change in return volatility (after controlling for decimalization of stock trading) but significant increases in trading volume due to difference in opinion. Analyst forecast dispersion increases, and increases in other measures of disagreement and difference of opinion suggest greater difficulty in forming forecasts beyond the current quarter. Corporations increase the quantity of voluntary disclosures, but only for current quarter earnings. Thus, Reg FD seems to increase the quantity of information available to the public while imposing greater demands on investment professionals.     

唐山市水环境保护工作的几点做法

河北省唐山市水环境保护范围包括滦河流域，沙、陡河流域，还乡河流域，北三河流域，共有河流70多条，大型水库2座、中型水库3座、小型水库152座。全市正常年份可用水量31．86亿m^3,2006年污水排放量3．8909亿m^3．其中工业污水2．8473亿m^3．生活污水1．0436亿m^3.近年来．该市不断加大水环境保护工作力度，取得了显著成效，滦河、还乡河、沙河、陡河、蓟运河等主要河道水质有了明显改善。[第一段]     

一种基于三电平矢量调制波的多电平调制方法

以五电平为例简述了多电平空间矢量调制（SVM）的实现方法，在此基础上分析了多电平SVM与多电平载波调制的联系和区别，指出多电平SVM比载波调制在开关组合的选择上更加灵活，使得多电平SVM更有利于输出电压波形的优化和输入直流侧的功率平衡，但是多电平SVM的实现相对复杂。因此文中提出了一种改进的多电平调制方法，该方法基于三电平矢量调制波，折衷了多电平SVM和载波调制的优缺点，既利用了SVM在调制波过零点附近增加开关次数来减小输出电压波形畸变的优点，又可以通过三电平矢量调制计算出调制波，使用载波调制的方法实现，使得该方法的计算量不会随着电平数的增多而大幅度增加。所建立的五电平实验模型验证了该方法确实可行。     

Development of an empirical mathematical model for describing and optimizing the hygiene potential of a thermophilic anaerobic bioreactor treating faeces.

Poor sanitation and insufficient disposal of sewage and faeces are primarily responsible for water associated health problems in developing countries. Domestic sewage and faeces are prevalently discharged into surface waters which are used by the inhabitants as a source for drinking water. This paper presents a decentralized anaerobic process technique for handling of such domestic organic waste. Such an efficient and compact system for treating faeces and food waste may be of great benefit for developing countries. Besides a stable biogas production for energy generation, the reduction of bacterial pathogens is of particular importance. In our research we investigated the removal capacity of the reactor concerning pathogens, which has been operated under thermophilic conditions. Faecal coliforms and intestinal enterococci have been detected as indicator organisms for bacterial pathogens. By the multiple regression analysis technique an empirical mathematical model has been developed. The model shows a high correlation between removal efficiency and both, hydraulic retention time (HRT) and temperature. By this model an optimized HRT for defined bacterial pathogens effluent standards can be easily calculated. Thus, hygiene potential can be evaluated along with economic aspects. In this paper not only results for describing the hygiene potential of a thermophilic anaerobic bioreactor are presented, but also an exemplary method to draw the right conclusions out of biological tests with the aid of mathematical tools.     

永吉县农村饮水安全问题及解决对策

本文通过对永吉县农村饮水现状的调查,掌握了饮水不安全人口的分布状况,分析了饮水不安全问题的成因,并对存在的问题提出了解决的办法和对策。     

The effects of debt versus equity inflows on savings and growth in developing economies

Zusammenfassung Die Wirkung von ausl?ndischer Kapitalbeteiligung und Kreditfinanzierung auf Ersparnisbildung und Wachstum in Entwicklungsl?ndern. — Zur Bew?ltigung der internationalen Schuldenprobleme von Entwicklungsl?ndern wird h?ufig vorgeschlagen, die Struktur des Kapitalimports zugunsten von Forderungsarten zu verschieben, bei denen sich die Gl?ubiger am wirtschaftlichen Risiko beteiligen, wie dies etwa bei Direktinvestitionen der Fall ist. Die Wahl zwischen Kapitalbeteiligung und Kreditfinanzierung mag jedoch Risiko-Ertrag-Konflikte zwischen Einkommensstabilit?t und erwartetem wirtschaftlichem Wachstum involvieren. Diese Hypothese wird aus einem entscheidungstheoretischen Modell auf der Basis eines Benutzer-Eigentümer Verh?ltnisses abgeleitet und mittels einer L?nderquerschnittsuntersuchung regressionsanalytisch getestet. Es zeigt sich, da\ bei nichtkooperativen Beziehungen zwischen Schuldnern und Gl?ubigern kreditfinanzierte Kapitalimporte einen vergleichsweise starken positiven Einflu\ auf die Ersparnisbildung und das Wirtschaftswachtum im Schuldnerland ausüben. Kapitalbeteiligungen k?nnen deshalb nicht ohne weiteres als vorteilhaft angesehen werden und auch nicht allen L?ndern empfohlen werden, ohne zu bedenken, wie sich soziale Gruppen gegenüber dem Risiko verhalten.

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Résumé Les effets de l’influx de la dette et du capital propre sur l’épargne et la croissance en économies développantes. — L’élément commun des beaucoup de propositions données pour faciliter les problèmes de la dette extérieure des pays développants est l’intention de changer la structure des importations de capital vers l’augmentation du rapport des créances qui basent sur quelque forme de partager les risques, p.e. la participation en capital propre. Cependant, le choix entre le capital propre ou des influx des capitaux financés par des dettes peut induire un conflit de ?rendement-risque? entre la stabilité de revenu et la croissance attendue. Cette hypothèse est dérivée d’un modèle choix-théorique basé sur l’approche agent-principal et testée empiriquement en appliquant l’analyse de régression trans-pays. Les auteurs démontrent que, dans un cadre non-coopératif des relations débiteurcréditeur, des transferts financés par des dettes ont une influence plus positive sur l’épargne et la croissance économique. La participation en capital propre ne peut pas être évaluée supérieure sans ambigu?té et c’est pourquoi elle ne peut pas être recommendée pour tous les pays, indépendant des attitudes sociales envers le risque.

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Resumen El efecto del endeudamiento sobre el ahorro y el crecimiento eneconomías en desarrollo comparado con el de las inversiones directas. — En varias propuestas para aliviar el problema de la deuda externa de los países en desarrollo se sugiere alterar la composición de las importaciones de capital en el sentido de aumentar la proportión de derechos con participación en el riesgo económico, es decir, la participación de la inversión directa. La elección entre inversión directa y deuda considera la relación inversa riesgo-beneficio que existe entre la estabilidad del ingreso y el crecimiento esperado. Esta tesis se dériva de un modelo teórico de elección basado en el enfoque agente-principal, que es sometido a un test empírico de regresión sobre una muestra de países. Se muestra que en el marco de relaciones deudor-acreedor de tipo no cooperativas las transferencias de financiamiento por deuda ejercen una influencia positiva relativamente superior sobre el ahorro y el crecimiento económico. La participación directa en el capital no resulta superior en todos casos y por ello no puede ser recomendada para todos los países, independientemente de las actitudes frente al riesgo que prevalezcan.

     

Construction of transmission lines above valuable standing timber

Problems with the construction of transmission lines above a forest are examined. Construction of lines above standing timber makes it possible to shorten the length of the route, eliminate the clearing of a continuous swath along the line, and reduce the volume of in-service work. To implement this solution, it is necessary to introduce changes and supplements to existing regulatory technical documents. __________ Translated from élektricheskie Stantsii, No. 10, October 2007, pp. 48–51.     

Aqua-Biomant: integrated biological and electrochemical oxidation for industrial wastewater treatment.

An innovative technology for industrial wastewater treatment has been developed. The main focus of the new system is a transformation of persistent organic compounds (biorecalcitrant COD) into a biodegradable fraction, followed by high efficient biological elimination using specialised bacteria's. To fulfill these targets the Aqua-Biomant process integrates two treatment steps: an aerated biological upflow filter and a electrochemical oxidation technique using boron doped-diamond electrodes. The advantages of the process are high efficient COD removal with reduced energy consumption combined with low total residence time.