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We introduce a new way to measure the forecast effort that analysts devote to their earnings forecasts by measuring the analyst's general effort for all covered firms. While the commonly applied effort measure is based on analyst behaviour for one firm, our measure considers analyst behaviour for all covered firms. Our general effort measure captures additional information about analyst effort and thus can identify accurate forecasts. We emphasise the importance of investigating analyst behaviour in a larger context and argue that analysts who generally devote substantial forecast effort are also likely to devote substantial effort to a specific firm, even if this effort might not be captured by a firm-specific measure. Empirical results reveal that analysts who devote higher general forecast effort issue more accurate forecasts. Additional investigations show that analysts' career prospects improve with higher general forecast effort. Our measure improves on existing methods as it has higher explanatory power regarding differences in forecast accuracy than the commonly applied effort measure. Additionally, it can address research questions that cannot be examined with a firm-specific measure. It provides a simple but comprehensive way to identify accurate analysts.
Zero energy solutions for multifunctional steel intensive commercial buildings (ZEMUSIC) - EUR 27627
(2015)
The broad commercial objective of this project was the sustainable value creation in steel building technology by addressing the ways in which significant energy reductions can be made in the operation phase of multi-storey commercial buildings. A review on energy efficient commercial buildings in Europe has been carried out consisting of several case studies from different countries. The project included development of zero-energy concepts for reducing energy demand as well as concepts for heating, cooling and ventilation systems by utilising renewable energy sources in three different climates. Also alternative structural frame solutions were developed and analyzed in respect of structural and MEP (mechanical, electrical and plumbing solutions) features. An innovative long span floor system with integrated MEP routings promises a cost effective alternative for sophisticated ventilation distribution and radiant heating and cooling systems, allowing for high energy efficiency and high quality interior climate. The report includes also review of best architectural practices for integrated renewable energy solutions including different design strategies for building facades of zero energy buildings. Interesting results and design basis are also presented for steel energy pile concept, where structural foundation piles are utilized for ground energy harvesting. Life cycle cost calculations for near zero energy office building based on developed technologies show that a near zero energy construction is also profitable. The results and work methods of the project have been summarized in the form of design guidance that offers designers the knowledge gained in a form that can be easily understood.
Simulation model for the transient process behaviour of solar aluminium recycling in a rotary kiln
(2015)
Changes in intestinal microflora in rats induced by oral exposure to low lead (II) concentrations
(2015)
Gossamer-1 is the first project of the three-step Gossamer roadmap, the purpose of which is to develop, prove and demonstrate that solar-sail technology is a safe and reliable propulsion technique for long-lasting and high-energy missions. This paper firstly presents the structural analysis performed on the sail to understand its elastic behavior. The results are then used in attitude and orbital simulations. The model considers the main forces and torques that a satellite experiences in low-Earth orbit coupled with the sail deformation. Doing the simulations for varying initial conditions in attitude and rotation rate, the results show initial states to avoid and maximum rotation rates reached for correct and faulty deployment of the sail. Lastly comparisons with the classic flat sail model are carried out to test the hypothesis that the elastic behavior does play a role in the attitude and orbital behavior of the sail
With autonomous mobile robots receiving increased
attention in industrial contexts, the need for benchmarks
becomes more and more an urgent matter. The RoboCup
Logistics League (RCLL) is one specific industry-inspired scenario
focusing on production logistics within a Smart Factory.
In this paper, we describe how the RCLL allows to assess the
performance of a group of robots within the scenario as a
whole, focusing specifically on the coordination and cooperation
strategies and the methods and components to achieve them.
We report on recent efforts to analyze performance of teams in
2014 to understand the implications of the current grading
scheme, and derived criteria and metrics for performance
assessment based on Key Performance Indicators (KPI) adapted
from classic factory evaluation. We reflect on differences and
compatibility towards RoCKIn, a recent major benchmarking
European project.