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Does increased water efficiency improve financial performance? The important role of operational efficiency
PurposeThe purpose of this study is to examine the relationships between changes in water efficiency, profit and risk for firms in the global Consumer Packaged Goods industry. This study also aims to consider the moderating effect of operational efficiency on those relationships.Design/methodology/approachUsing a sample of 155 firms with annual corporate social performance and financial performance data from Bloomberg for the years 2010–2019, this study employs first-differencing panel regression models to obtain our results.FindingsThis study finds strong evidence that operational efficiency moderates the relationships between water efficiency, profit and risk. For operationally efficient firms, increasing water efficiency increases profit and reduces risk. But for firms that are not operationally efficient, this study finds the opposite effects. These findings suggest a threshold level of operational efficiency that firms should achieve before they can reap financial benefits from increases in water efficiency.Originality/valueDespite the increasing importance of water efficiency as a measure of corporate social performance, its effects on financial performance are not well studied. The relationship between operational efficiency and water efficiency has also not been examined. This work provides empirical evidence to better understand these important relationships. The major implication for managers is that operational efficiency is a foundational capability that should be developed before focusing on efforts to improve water efficiency. For operationally efficient firms, improvements in water efficiency can be an important mechanism to increase profitability and reduce risk.
Journal Article
Lost in space : countdown to danger. Volume 1, Countdown to danger
Lost in Space: Countdown to Danger Vol. 1 is an official graphic novel expansion of the hit Netflix series featuring all-new, original adventures not seen on television.
Book
Sharing Responsibility for Product Recovery Across the Supply Chain
Extended producer responsibility (EPR) programs typically hold the producer—a single actor defined by the regulator—responsible for the environmental impacts of end‐of‐life products. This is despite emphasis on the need to involve all actors in the supply chain in order to best achieve the aims of EPR. In this paper, we examine the economic and environmental implications of product recovery mandates and shared responsibility within a supply chain. We use a two‐echelon model consisting of a supplier and a manufacturer to determine the impacts of product collection and recycling mandates on the incentive to recycle and resulting profits in the integrated and decentralized supply chains. For the decentralized supply chain, we demonstrate how the sharing of responsibility for product recovery between the echelons can improve total supply chain profit and suggest a contract menu that can Pareto‐improve profits. To examine both the economic and environmental performance associated with responsibility sharing, we propose a social welfare construct that includes supply chain profit, consumer surplus, and the externalities associated with virgin material extraction, product consumption, and disposal of nonrecycled products. Using a numerical example, we discuss how responsibility sharing may or may not improve social welfare. The results of this paper are of value to firms either anticipating or subject to product recovery legislation, and to social planners that attempt to balance economic and environmental impacts and ensure fairness of such legislation.
Journal Article
Quantitative analysis of dynamic computed tomography angiography for the detection of endoleaks after abdominal aorta aneurysm endovascular repair: A feasibility study
To assess the feasibility of quantitative analysis of dynamic computed tomography angiography (dCTA) for the detection of endoleaks in patients who underwent endovascular repair of abdominal aortic aneurysms (EVAR).
Twenty patients scheduled for contrast-enhanced CT angiography (CTA) of the abdominal aorta post-EVAR were prospectively enrolled. All patients received a standard triphasic CTA protocol, followed by an additional dCTA. The dCTA acquisition enabled reconstruction of color-coded maps depicting blood perfusion and a dCTA dataset of the aneurysm sac. Observers assessed the dCTA and dynamic CT perfusion (dCTP) images for the detection of endoleaks, establishing diagnostic confidence based on a modified 5-point Likert scale. An index was calculated for the ratio between the endoleak and aneurysm sac using blood flow for dCTP and Hounsfield units (HU) for dCTA. The Wilcoxon test compared the endoleak index and the diagnostic confidence of the observers.
In total, 19 patients (18 males, median age 74 years [70.5-75.7]) were included for analysis. Nine endoleaks were detected in 7 patients using triphasic CTA as the reference standard. There was complete agreement for endoleak detection between the two techniques on a per-patient basis. Both dCTA and dCTP identified an additional endoleak in one patient. The diagnostic confidence using dCTP for detection of endoleaks was not significantly superior to dCTA (5.0 [5-5] vs. 4.5 [4-5], respectively; p = 0.11); however, dCTP demonstrated superior diagnostic confidence for endoleak exclusion compared to dCTA (1.0 [1-1] vs 1.5 [1.5-1.5], respectively; p <0.01). Moreover, the dCTP endoleak index was significantly higher than the dCTA index (18.5 [10.8-20.5] vs. 3.5 [5-2.7], respectively; p = 0.02).
Quantitative analysis of dCTP imaging can aid in the detection of endoleaks and demonstrates a higher endoleak detection rate than triphasic CTA, as well as a strong correlation with visual assessment of dCTA images.
Journal Article
Coronary Computed Tomographic Angiography-Derived Fractional Flow Reserve for Therapeutic Decision Making
This study investigated the performance of coronary computed tomography angiography (cCTA) with cCTA-derived fractional flow reserve (CT-FFR) compared with invasive coronary angiography (ICA) with fractional flow reserve (FFR) for therapeutic decision making in patients with suspected coronary artery disease (CAD). Seventy-four patients (62 ± 11 years, 62% men) with at least 1 coronary stenosis of ≥50% on clinically indicated dual-source cCTA, who had subsequently undergone ICA with FFR measurement, were retrospectively evaluated. CT-FFR values were computed using an on-site machine-learning algorithm to assess the functional significance of CAD. The therapeutic strategy (optimal medical therapy alone vs revascularization) and the appropriate revascularization procedure (percutaneous coronary intervention vs coronary artery bypass grafting) were selected using cCTA-CT-FFR. Thirty-six patients (49%) had a functionally significant CAD based on ICA-FFR. cCTA-CT-FFR correctly identified a functionally significant CAD and the need of revascularization in 35 of 36 patients (97%). When revascularization was deemed indicated, the same revascularization procedure (32 percutaneous coronary interventions and 3 coronary artery bypass grafting) was chosen in 35 of 35 patients (100%). Overall, identical management strategies were selected in 73 of the 74 patients (99%). cCTA-CT-FFR shows excellent performance to identify patients with and without the need for revascularization and to select the appropriate revascularization strategy. cCTA-CT-FFR as a noninvasive “one-stop shop” has the potential to change diagnostic workflows and to directly inform therapeutic decision making in patients with suspected CAD.
Journal Article
Fractional flow reserve derived from CCTA may have a prognostic role in myocardial bridging
PurposeTo evaluate the feasibility of fractional flow reserve (cFFR) derivation from coronary CT angiography (CCTA) in patients with myocardial bridging (MB), its relationship with MB anatomical features, and clinical relevance.MethodsThis retrospective study included 120 patients with MB of the left anterior descending artery (LAD) and 41 controls. MB location, length, depth, muscle index, instance, and stenosis rate were measured. cFFR values were compared between superficial MB (≤ 2 mm), deep MB (> 2 mm), and control groups. Factors associated with abnormal cFFR values (≤ 0.80) were analyzed.ResultsMB patients demonstrated lower cFFR values in MB and distal segments than controls (all p < 0.05). A significant cFFR difference was only found in the MB segment during systole between superficial (0.94, 0.90–0.96) and deep MB (0.91, 0.83–0.95) (p = 0.018). Abnormal cFFR values were found in 69 (57.5%) MB patients (29 [49.2%] superficial vs. 40 [65.6%] deep; p = 0.069). MB length (OR = 1.06, 95% CI 1.03–1.10; p = 0.001) and systolic stenosis (OR = 1.04, 95% CI 1.01–1.07; p = 0.021) were the main predictors for abnormal cFFR, with an area under the curve of 0.774 (95% CI 0.689–0.858; p < 0.001). MB patients with abnormal cFFR reported more typical angina (18.8% vs 3.9%, p = 0.023) than patients with normal values.ConclusionMB patients showed lower cFFR values than controls. Abnormal cFFR values have a positive association with symptoms of typical angina. MB length and systolic stenosis demonstrate moderate predictive value for an abnormal cFFR value.Key Points• MB patients showed lower cFFR values than controls.• Abnormal cFFR values have a positive association with typical angina symptoms.• MB length and systolic stenosis demonstrate moderate predictive value for an abnormal cFFR value.
Journal Article
A Good Sentencing Precedent is Hard to Find
In federal criminal cases, federal law requires that judges consider the sentences other courts have imposed in factually similar matters. Courts and parties, however, face significant challenges in finding applicable sentencing precedents because judges do not typically issue written sentencing opinions, and transcripts of sentencings are not readily available in advanced searchable databases. At the same time, particularly since the Supreme Court’s 2005 decision in United States v. Booker, sentencing precedent has come to play a significant role in federal sentencing proceedings. By way of example, this article discusses recent cases involving defendants with gambling addictions, and recent cases involving college admissions or testing fraud. The article explores the ways the parties in those cases have used sentencing precedent in their advocacy, as well as the ways the courts involved have used sentencing precedent to justify their decisions. Given the important role of sentencing precedent in federal criminal cases, the article finally looks at ways in which the body of sentencing law could be made more readily available to parties and courts alike.
Journal Article
Spatial patterns and ecological drivers of historic piñon-juniper woodland expansion in the American southwest
Apparent changes in the local occurrence and regional extent of southwestern U. S. piñon— juniper woodlands since Euro-American settlement (i.e. historic expansion) are widely reported. These changes are commonly attributed to rapid onset of intensive and unregulated livestock grazing in western rangelands beginning ca 1850. However, other potential drivers of historic expansion including climatic warming, biological inertia, elevated CO₂ , and post-disturbance successional recovery have also been noted. Landscape patterns of woodland expansion have not been well characterized, thus the magnitude, extent, and timing of historic change remains uncertain and the relative importance of ecological drivers difficult to assess. Previous work within a monsoonal north-central New Mexico study area demonstrated the utility of logistic modeling to address these questions. Here I expand these efforts by sampling and modeling piñon-juniper woodlands across a climatically variable four-state area (i.e. New Mexico, Arizona, Colorado, and Utah). Using MARS, a piece-wise linear procedure, I model occurrence of pre-versus post-settlement aged stands in relation to environmental factors, predictively map woodland expansion patterns, and evaluate grazing versus other potential drivers of historic change. Pre-settlement woodlands were most commonly found in upland settings consistent with previous work, although this relationship was less pronounced in winter moisture areas on the Colorado Plateau. Post-settlement stands in contrast were typically associated with more productive valley-terrace and toe-slope settings. However, predicted extent of expansion regionally was largely restricted to summer moisture areas within the range of one-seed juniper. This dichotomy, where historic expansion was directional into depositional settings atypical of pre-settlement woodland occurrence supports the view of intensive grazing as a disruptive disturbance. However, the more limited expansion predicted for winter moisture areas suggests grazing effects were likely contingent on bio-climatic context including ecological potential of different juniper species and affected sites.
Journal Article
High-pitch low-voltage CT coronary artery calcium scoring with tin filtration: accuracy and radiation dose reduction
ObjectivesTo investigate diagnostic accuracy and radiation dose of high-pitch CT coronary artery calcium scoring (CACS) with tin filtration (Sn100kVp) versus standard 120kVp high-pitch acquisition.Methods78 patients (58% male, 61.5±9.1 years) were prospectively enrolled. Subjects underwent clinical 120kVp high-pitch CACS using third-generation dual-source CT followed by additional high-pitch Sn100kVp acquisition. Agatston scores, calcium volume scores, Agatston score categories, percentile-based risk categorization and radiation metrics were compared.Results61/78 patients showed coronary calcifications. Median Agatston scores were 34.9 [0.7–197.1] and 41.7 [0.7–207.2] and calcium volume scores were 34.1 [0.7–218.0] for Sn100kVp and 35.7 [1.1–221.0] for 120kVp acquisitions, respectively (both p<0.0001). Bland-Altman analysis revealed underestimated Agatston scores and calcium volume scores with Sn100kVp versus 120kVp acquisitions (mean difference: 16.4 and 11.5). However, Agatston score categories and percentile-based risk categories showed excellent agreement (ĸ=0.98 and ĸ=0.99). Image noise was 25.8±4.4HU and 16.6±2.9HU in Sn100kVp and 120kVp scans, respectively (p<0.0001). Dose-length-product was 9.9±4.8mGy*cm and 40.9±14.4mGy*cm with Sn100kVp and 120kVp scans, respectively (p<0.0001). This resulted in significant effective radiation dose reduction (0.13±0.07mSv vs. 0.57±0.2mSv, p<0.0001) for Sn100kVp acquisitions.ConclusionCACS using high-pitch low-voltage tin-filtered acquisitions demonstrates excellent agreement in Agatston score and percentile-based cardiac risk categorization with standard 120kVp high-pitch acquisitions. Furthermore, radiation dose was significantly reduced by 78% while maintaining accurate risk prediction.Key points• Coronary artery calcium scoring with tin filtration reduces radiation dose by 78%.• There is excellent correlation between high-pitch Sn100kVp and standard 120kVp acquisitions.• Excellent agreement regarding Agatston score categories and percentile-based risk categorization was achieved.• No cardiac risk reclassifications were observed using Sn100kVp coronary artery calcium scoring.
Journal Article