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Driven by falling photovoltaic (PV) installation costs and potential support policies, rooftop PV is expected to expand rapidly in Thailand. As a result, the relevant stakeholders, especially utilities, have concerns about the net economic impacts of high PV adoption. Using a cost–benefit analysis, this study quantifies the net economic impacts of rooftop PV systems on three utilities and on ratepayers in Thailand by applying nine different PV adoption scenarios with various buyback rates and annual percentages of PV cost reduction. Under Thailand’s current electricity tariff structure, Thai utilities are well-protected and able to pass all costs due to PV onto the ratepayers in terms of changes in retail rates. We find that when PV adoption is low, the net economic impacts on both the utilities and retail rates are small and the impacts on each utility depend on its specific characteristics. On the other hand, when PV adoption ranges from 9–14% in energy basis, five-year retail rate impacts become noticeable and are between 6% and 11% as compared to the projected retail rates in 2036 depending on the PV adoption level. Thus, it is necessary for Thailand to make tradeoffs among the stakeholders and maximize the benefits of rooftop PV adoption.
Driven by decreasing PV and energy storage prices, increasing electricity costs and policy supports from Thai government (self-consumption era), rooftop PV and energy storage systems are going to be deployed in the country rapidly that may disrupt existing business models structure of Thai distribution utilities due to revenue erosion and lost earnings opportunities. The retail rates that directly affect ratepayers (non-solar customers) are expected to increase. This paper focuses on a framework for evaluating impacts of PV with and without energy storage systems on Thai distribution utilities and ratepayers by using cost-benefit analysis (CBA). Prior to calculation of cost/benefit components, changes in energy sales need to be addressed. Government policies for the support of PV generation will also help in accelerating the rooftop PV installation. Benefit components include avoided costs due to transmission losses and deferring distribution capacity with appropriate PV penetration level, while cost components consist of losses in revenue, program costs, integration costs and unrecovered fixed costs. It is necessary for Thailand to compare total costs and total benefits of rooftop PV and energy storage systems in order to adopt policy supports and mitigation approaches, such as business model innovation and regulatory reform, effectively.
Aim: The aim of the study was to identify common orthopedic sports injury profiles in adolescent elite athletes with respect to age, sex, and anthropometrics.
Methods: A retrospective data analysis of 718 orthopedic presentations among 381 adolescent elite athletes from 16 different sports to a sports medical department was performed. Recorded data of history and clinical examination included area, cause and structure of acute and overuse injuries. Injury-events were analyzed in the whole cohort and stratified by age (11–14/15–17 years) and sex. Group differences were tested by chi-squared-tests. Logistic regression analysis was applied examining the influence of factors age, sex, and body mass index (BMI) on the outcome variables area and structure (α = 0.05).
Results: Higher proportions of injury-events were reported for females (60%) and athletes of the older age group (66%) than males and younger athletes. The most frequently injured area was the lower extremity (47%) followed by the spine (30.5%) and the upper extremity (12.5%). Acute injuries were mainly located at the lower extremity (74.5%), while overuse injuries were predominantly observed at the lower extremity (41%) as well as the spine (36.5%). Joints (34%), muscles (22%), and tendons (21.5%) were found to be the most often affected structures. The injured structures were different between the age groups (p = 0.022), with the older age group presenting three times more frequent with ligament pathology events (5.5%/2%) and less frequent with bony problems (11%/20.5%) than athletes of the younger age group. The injured area differed between the sexes (p = 0.005), with males having fewer spine injury-events (25.5%/34%) but more upper extremity injuries (18%/9%) than females. Regression analysis showed statistically significant influence for BMI (p = 0.002) and age (p = 0.015) on structure, whereas the area was significantly influenced by sex (p = 0.005).
Conclusion: Events of soft-tissue overuse injuries are the most common reasons resulting in orthopedic presentations of adolescent elite athletes. Mostly, the lower extremity and the spine are affected, while sex and age characteristics on affected area and structure must be considered. Therefore, prevention strategies addressing the injury-event profiles should already be implemented in early adolescence taking age, sex as well as injury entity into account.
Background: On the way to a more sustainable society, transport needs to be urgently optimized regarding energy consumption and pollution control. While in earlier decades, Europe followed automobile technology leaps initiated in the USA, it has decoupled itself for 20 years by focusing research capacity towards the diesel powertrain. The resulting technology shift has led to some 45 million extra diesel cars in Europe. Its outcome in terms of health and environmental effects will be investigated below.
Results: Expected greenhouse gas savings initiated by the shift to diesel cars have been overestimated. Only about one tenth of overall energy efficiency improvements of passenger cars can be attributed to it. These minor savings are on the other hand overcompensated by a significant increase of supply chain CO2 emissions and extensive black carbon emissions of diesel cars without particulate filter. We conclude that the European diesel car boom did not cool down the atmosphere. Moreover, toxic NO x emissions of diesel cars have been underestimated up to 20-fold in officially announced data. The voluntary agreement signed in 1998 between the European Automobile industry and the European Commission envisaging to reduce CO2 emissions has been identified as elementary for the ensuing European diesel car boom. Four factors have been quantified in order to explain very different dieselization rates across Europe: impact of national car/supplier industry, ecological modernization, fuel tourism and corporatist political governance. By comparing the European diesel strategy to the Japanese petrol-hybrid avenue, it becomes clear that a different road would have both more effectively reduced CO2 emissions and pollutants.
Conclusion: Europe's car fleets have been persistently transformed from being petrol-driven to diesel-driven over the last 20 years. This paper investigates on how this came to be and why Europe took a distinct route as compared to other parts of the world. It also attempts to evaluate the outcome of stated goals of this transformation which was primarily a robust reduction in GHG emissions. We conclude that global warming has been negatively affected, and air pollution has become alarming in many European locations. More progressive development scenarios could have prevented these outcomes.
This research paper discusses how RFID technology could improve current deposit bottle logistic processes in food retailing and which obstacles impede successful implementations. Research Methodology include desk research: Library, EBSCOhost, wiso.net, Google Scholar, Scientific Journals, Statista, SpringerLink. Implementation of RFID is potentially beneficial, but same obstacles remain outlook. To validate the conclusion further studying and practical proof of concept are necessary. Contributions: supply chain management, return logistics, food retail, beverage industry
Objective: The objective of the article highlight the significance of culture in the entrepreneurial landscape and provides entrepreneurs and (project) managers with a guidance tool to overcome previously unconsidered stumbling blocks while operating in the intercultural setting.
Research Design & Methods: The following article was prepared based on a critical study review devoted to existing approaches to intercultural impact in business life and used the archival technique from 1990-2020. The study review reflects on the identification of existing literature gaps in the implementation of a subcultural business environment. It addresses these by designing an appropriate model to bypass the apparent pitfalls of intercultural business communication and co-existence, if possible.
Findings: Culture impacts diverse sets of society and businesses, including entrepreneurship. This article underpins which pitfalls are advisable to consider when encountering the intercultural and entrepreneurship-driven workplace.
Implications & Recommendations: Based on the study review, startups, as well as big corporate companies’ projects of a creational nature, are advised to reconsider their perception and handling of culture applying The Building of Cultural and Entrepreneurial Force.
Contribution & Value Added: The added value of this article is to be found in the solid analysis of cultural essentialism, anti-essentialism, and implications to beware of in the managerial and entrepreneurial context related to The Building of Intercultural and Entrepreneurial Force that intends to ease to co-work of intercultural teams.
Objective: In this article, the methods used to simplify the business modelling and founding of new companies are presented and critically reflected. Furthermore, it is discussed to what extent a specific method is advantageous, disadvantageous, applicable, not applicable, or even contradictory.
Methodology: The theoretical analysis is underpinned by a qualitative interview study asking company founders about applying the methods mentioned above. The work is based on scientific papers and books and is complemented by the data originating from a specially designed study.
Findings: The results conclude that business model founding instruments provide strategic guidelines favouring entrepreneurs, yet they turn out to be minor in its real-life significance as numerous factors rooted in different fields of expertise play in.
Value Added: The added value of this paper is in the elaboration of efficiency bringing and risk-minimizing components of the methods, respectively. Accordingly, managers and entrepreneurs of all industries are intended to be equipped with sufficient information content that eases the decision for or against one of the methods as realistic expectations considering the application are likely to emerge.
Recommendations: The limitations of this study are rooted in the chosen qualitative research since every interviewee is a subject to their individual perception.
Purpose: In this article, the canvas used to simplify business modeling of a platform and its visual depiction are put into the entrepreneurial context, and critically reflected accordingly. Furthermore, it is discussed to what extent the canvas is advantageous, disadvantageous, applicable, not applicable, or even contradictory.
Methodology: The analysis is based on theoretical research. Additionally, qualitative interviews with business founders were conducted.
Results: The results conclude that the canvas employed to ease the business model sharpening process supplies founders with essential aspects to cover, yet they are part of a large set of factors that play in.
Conclusion: The limitations of this study are rooted in the chosen research design based on the conceptual review.
Many borate crystals feature nonlinear optical properties that allow for efficient frequency conversion of common lasers down into the ultraviolet spectrum. Twinning may degrade crystal quality and affect nonlinear optical properties, in particular if crystals are composed of twin domains with opposing polarities. Here, we use measurements of optical activity to demonstrate the existence of inversion twins within single crystals of YAl3(BO3)4 (YAB) and K2Al2B2O7 (KABO). We determine the optical rotatory dispersion of YAB and KABO throughout the visible spectrum using a spectrophotometer with rotatable polarizers. Space-resolved measurements of the optical rotation can be related to the twin structure and give estimates on the extent of twinning. The reported dispersion relations for the rotatory power of YAB and KABO may be used to assess crystal quality and to select twin-free specimens.
A systemic framework of energy efficiency in schools: Experiences from six European countries
(2023)
Schools are complex physical and social institutions within national education systems. They account for significant energy consumption and like other buildings can demonstrate inefficient patterns of energy use. Poor energy performance of educational facilities is an intricate issue driven by complex causality of interconnected and dynamic factors. Addressing this issue requires a systemic approach, which is heretofore lacking. The aim of this research is to present and describe a systemic framework to facilitate energy reduction in schools across different European contexts. This transdisciplinary approach to sustainable energy use has been piloted in 13 post-primary schools located in six countries in northwest Europe. The research implements a series of planned activities and interventions, which help to unveil a systemic approach to improving energy efficiency in schools. The findings demonstrate how this approach, together with its ensuing methodologies and strategies, can contribute to reducing carbon emissions and improve knowledge and awareness around sustainable energy.
Multimodal meaning making: The annotation of nonverbal elements in multimodal corpus transcription
(2021)
The article discusses how to integrate annotation for nonverbal elements (NVE) from multimodal raw data as part of a standardized corpus transcription. We argue that it is essential to include multimodal elements when investigating conversational data, and that in order to integrate these elements, a structured approach to complex multimodal data is needed. We discuss how to formulate a structured corpus-suitable standard syntax and taxonomy for nonverbal features such as gesture, facial expressions, and physical stance, and how to integrate it in a corpus. Using corpus examples, the article describes the development of a robust annotation system for spoken language in the corpus of Video-mediated English as a Lingua Franca Conversations (ViMELF 2018) and illustrates how the system can be used for the study of spoken discourse. The system takes into account previous research on multimodality, transcribes salient nonverbal features in a concise manner, and uses a standard syntax. While such an approach introduces a degree of subjectivity through the criteria of salience and conciseness, the system also offers considerable advantages: it is versatile and adaptable, flexible enough to work with a wide range of multimodal data, and it allows both quantitative and qualitative research on the pragmatics of interaction.
Additive manufacturing is an essential tool in innovative production processes. The extended degrees of freedom offer much potential in usage, construction, and product design. Rising raw material and energy costs, constantly increasing environmental requirements, and the increasing demand for resource-saving products represent a paradigm shift in classic production processes.
In addition to the purely energetic evaluation, developing energy models is a method to determine energy consumption and reduce it in the long term. The specific energy consumption model, also known as the SEC model, allows a quick estimation of energy consumption by multiplying the SEC with a unit like the mass of the workpiece, the manufacturing time, or the exposed area. Here, high dependence on the used machine, the considered peripheral devices, and the geometry are noticeable.
Previous studies, such as those by Kellens et al. and Baumers et al., have laid the basis for understanding the energy demands of PBF-LB/M processes. Various energy models have subsequently been proposed, including those by Paul and Anand, Yi et al., Lv et al., and Hui et al. These models are often limited by their specificity to sub-processes or subsystems. This results in limitations in their applicability to other manufacturing machines or inaccuracies in energy consumption predictions. The simulation accuracy ACC is mostly in the range of 90% with the limitation of small sample sizes. Moreover, nearly, all these models rely heavily on process time information, making the accuracy of their simulations largely dependent on the quality of the underlying time model.
In the following study, two manufacturing machines of the PBF-LB/M process are analyzed and compared with other studies. The aim is to analyze the power and resource consumption to use these data to build an improved energy model with a high accuracy, which can be used as an additional parameter in the adapted design methodology. Furthermore, potential savings are derived from the load curves.
Deep brain stimulation (DBS) is an established therapy for movement disorders such as in Parkinson's disease (PD) and essential tremor (ET). Adjusting the stimulation parameters, however, is a labour-intensive process and often requires several patient visits. Physicians prefer objective tools to improve (or maintain) the performance in DBS. Wearable motion sensors (WMS) are able to detect some manifestations of pathological signs, such as tremor in PD. However, the interpretation of sensor data is often highly technical and methods to visualise tremor data of patients undergoing DBS in a clinical setting are lacking. This work aims to visualise the dynamics of tremor responses to DBS parameter changes with WMS while patients performing clinical hand movements. To this end, we attended DBS programming sessions of two patients with the aim to visualise certain aspects of the clinical examination. PD tremor and ET were effectively quantified by acceleration amplitude and frequency. Tremor dynamics were analysed and visualised based on setpoints, movement transitions and stability aspects. These methods have not yet been employed and examples demonstrate how tremor dynamics can be visualised with simple analysis techniques. We therefore provide a base for future research work on visualisation tools in order to assist clinicians who frequently encounter patients for DBS therapy. This could lead to benefits in terms of enhanced evaluation of treatment efficacy in the future.
This paper presents a feasibility study for the production of recycled glycol modified polyethylene terephthalate (PETG) material for additive manufacturing. Past studies showed a variety of results for the recycling of 3D-printing material, therefore the precise effect on the material properties is not completely clear. For this work, PETG waste of the same grade was recycled once and further processed into 3D printing filament. The study compares three blend ratios between purchased plastic pellets and recycled pellets to determine the degradation effect of one recycling cycle and possible blend ratios to counter these effects. Furthermore, the results include a commercially available filament. The comparison uses the filament diameter, the dimensional accuracy of the printed test specimen and mechanical properties as quality criteria. The study shows that the recycled material has a minor decrease concerning the tensile strength and Young’s modulus.
The following paper aims to find out consumers' expectations and attitudes towards the innovation "Metaverse". It will also be explored which role the Meta Group plays in mass adaption and how the company influences consumers' possible use and opinion on the project. These results are connected to the fashion industry, further exploring new types of products and a possible distribution channel. Therefore, this study is useful to developers of Metaverses and AR/VR products, the Meta Group, and fashion companies. The main results of this research are: Meta and the Metaverse are seen as critical, the required technology has not yet reached mainstream use, but interest is present. Digital fashion had participants divided, some not willing to spend any money and some already having spent over 100€, although the Metaverse's influence on future purchases is little. The Metaverse could serve as a new distribution channel for clothing products. To conduct this research Google Forms was used. The research is classified as survey-based. The biggest limitation is the nonexistence of the Metaverse as envisioned by Meta, making it hard for participants to answer some of the questions asked.
Electric drive systems are increasingly used in automobiles. However, the combination of comfort, dynamics and safety requirements places high demands on the torque accuracy. The complex interplay of battery, inverter and electrical machine causes a lot of system uncertainties based on parameter fluctuations and measurement errors that influence the system performance. In this paper these influences on the closed loop torque control are analyzed and quantified using a variance based sensitivity analysis. The method enables to connect the variance of the torque accuracy with the parameter uncertainties causing this variance. Moreover, it quantifies the influences of the parameters independent of the complexity of the analyzed system. In addition, two methods to ensure convergence of the estimated variance based sensitivity measures are proposed. The results of the analysis are presented for 19 static working points of an battery electric drive system.
Diadromous fish have exhibited a dramatic decline since the end of the 20th century. The allis shad (Alosa alosa) population in the Gironde-Garonne-Dordogne (GGD) system, once considered as a reference in Europe, remains low despite a fishing ban in 2008. One hypothesis to explain this decline is that the downstream migration and growth dynamics of young stages have changed due to environmental modifications in the rivers and estuary. We retrospectively analysed juvenile growth and migration patterns using otoliths from adults caught in the GGD system 30 years apart during their spawning migration, in 1987 and 2016. We coupled otolith daily growth increments and laser ablation inductively-coupled plasma mass spectrometry measurements of Sr:Ca, Ba:Ca, and Mn:Ca ratios along the longest growth axis from hatching to an age of 100 days (i.e., during the juvenile stage). A back-calculation allowed us to estimate the size of juveniles at the entrance into the brackish estuary. Based on the geochemistry data, we distinguished four different zones that juveniles encountered during their downstream migration: freshwater, fluvial estuary, brackish estuary, and lower estuary. We identified three migration patterns during the first 100 days of their life: (a) Individuals that reached the lower estuary zone, (b) individuals that reached the brackish estuary zone, and (c) individuals that reached the fluvial estuary zone. On average, juveniles from the 1987 subsample stayed slightly longer in freshwater than juveniles from the 2016 subsample. In addition, juveniles from the 2016 subsample entered the brackish estuary at a smaller size. This result suggests that juveniles from the 2016 subsample might have encountered more difficult conditions during their downstream migration, which we attribute to a longer exposure to the turbid maximum zone. This assumption is supported by the microchemical analyses of the otoliths, which suggests based on wider Mn:Ca peaks that juveniles in 2010s experienced a longer period of physiological stress during their downstream migration than juveniles in 1980s. Finally, juveniles from the 2016 subsample took longer than 100 days to exit the lower estuary than we would have expected from previous studies. Adding a new marker (i.e., Ba:Ca) helped us refine the interpretation of the downstream migration for each individual.
The following collection of manuscripts emerged from an interdisciplinary virtual exchange held during the Winter semester of 2023/2024 at the Environmental Campus Birkenfeld, organized by Prof. Dr. Milena Valeva and Prof. Dr. Kathrin Nitschmann. Additionally, Prof. Dr. Héctor Bombiella Medina, a lecturer of anthropology in the Department of World Languages and Cultures at Iowa State University, contributed to the virtual exchange and supervised case studies 3 and 4, bringing his extensive experience in this field and facilitating the international exchange. Within the elective module on Human Rights, students from the Bachelor's programs "Nonprofit and NGO Management" and "Environmental and Business Law," as well as the Master's program "Energy and Corporate Law," explored the interconnections between human rights and sustainability.
In an era marked by unprecedented environmental challenges and profound social transformations, the intersection of human rights and the rights of nature has emerged as a critical area of inquiry and debate. Today, as we face the dual crises of climate change and biodiversity loss, the traditional boundaries between human and environmental rights are increasingly blurred. This confluence demands a fresh, interdisciplinary approach to understanding and addressing the complex and interrelated issues at hand. Human rights, fundamental to the dignity and freedom of individuals, are deeply impacted by environmental degradation. Communities worldwide are experiencing firsthand the devastating effects of polluted air, contaminated water, and deforested landscapes, all of which undermine basic human rights to health, livelihood, and well-being. Conversely, recognizing the rights of nature — the intrinsic value of ecosystems and species — challenges us to reconsider our legal, ethical, and philosophical frameworks. It calls for a paradigm shift from a view to one that embraces the interconnectedness of all life forms. Engaging in robust discussions and research on these topics is essential in today's context. By exploring interdisciplinary perspectives, we can forge innovative solutions that honor both the rights of individuals and the integrity of nature. This special issue aims to contribute to this vital discourse, providing insights and fostering dialogue on how we can collectively navigate the complex landscape of human rights and environmental sustainability.
The first chapter „Human rights and SDGs in the context of democracy“ examines the significance of international human rights in today's context and links them to new value systems like sustainability. The second chapter, the case study „Rights of Nature“ explores the concept of granting legal rights to nature itself by comparing laws from various countries to show how it combats environmental exploitation. The third chapter, the case study „Traditional coca leaf consumption and drug trafficking in Colombia“ delves into the complex issues surrounding coca cultivation in Colombia, highlighting its economic, social, and political impacts. The fourth chapter, the case study „The artisanal fishing community of Chorrillos, Peru“ aims to provide theoretical insights and recommendations for improving the livelihoods of artisanal fishing communities in Peru, considering legal, ethical, and environmental perspectives as well as how economic liberalization, privatization, and deregulation affect the community's socio-economic conditions.
Content:
Chapter 1 - Conceptual: Human rights and SDGs in the context of democracy
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Milena Valeva: "From Human Dignity and Human Rights to Sustainability within the context of Democracy"
Yannick Sebastian Wagner: "The relationship between the SDGs, human rights, and Catholicism in the United States, on health-related issues"
Christine Wetter: "Comparison of Human Rights and Sustainable Development Goals"
Jacob Mayer: "The challenges and opportunities of liberal democracies in promoting international value systems"
Pauline Nicolay: "Effective conflict resolution through ADRs: opportunities, challenges and applications in different contexts"
Chapter 2 - Case Study: Rights of Nature
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Kathrin Nitschmann: "Ecology and the protection of fundamental rights: status quo and development potential in the light of the precautionary principle"
Johannes Hagemann: "Decoding the Environmental Crisis: A Historical Analysis of Human-Nature Relationships"
Sahar Mallak: "Rights for Nature in selected states"
Nergiz Dogan: "Rights for Nature in Germany"
Chapter 3 - Case Study: Traditional coca leaf consumption and drug trafficking in Colombia
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Héctor Andrés Bombiella Medina: "Prologue"
Cara-Maxine Heyd: "Should something happen somewhere else that we don't want here?" ["Affected Human Rights by the destruction of coca plantations"]
Maxi-Mercedes Jahn: "Glyphosate use in line with the peace policy Colombia"
Daniel Förster: "Coca Cultivation in Colombian Economy – Considering the 2007 US-Colombian Free Trade Agreement"
Chapter 4 - Case Study: The artisanal fishing community of Chorrillos Peru
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Dorothea Hensing: "Artisanal fisheries in circumstances with political framework and comanagement"
Nina Giordano: "Traditional ecological knowledge – a key element of sustainable development"
Yasmin Krami: "Strategy to promote the Human Right to an adequate standard of living for Peruvian artisanal fishers according to Article 25 of the Universal Declaration of Human Rights"
Unternehmen verlassen sich bei der Entwicklung von Software und Lösungen häufig auf das Know-How externer Dienstleister. Moderne Arbeits- und Kollaborationsformen verändern gleichzeitig die Entwicklung von Produkten und Dienstleistungen. Wie beeinflussen diese Trends die Zusammenarbeit und Kooperation zwischen Unternehmen und ihren externen agilen Dienstleistern? Ziel dieser wissenschaftlichen Arbeit ist es herauszufinden, welche Schritte unternehmen müssen, um agiles Arbeiten und die Zusammenarbeit mit externen Dienstleistern umzusetzen. Daher wurde anhand einer Fallstudie inklusive einer qualitativen Befragung herausgefunden und aufgezeigt, welche Maßnahmen und Handlungen Unternehmen ergreifen müssen, um das Ziel einer effektiven Umsetzung einer agilen Zusammenarbeit und Kooperation zu erreichen. Drei Kernthemen wurden identifiziert, auf deren Grundlage die Forschungsfragen zu den Maßnahmen beantwortet werden: Erstens, welche Möglichkeiten Unternehmen haben, ein internes agiles Setup zu implementieren, um mit agilen Dienstleistern auf Augenhöhe zusammenzuarbeiten. Zweitens, welche Vertragsvarianten die agile Zusammenarbeit unterstützen und verbessern können und drittens, welche agilen Techniken und Methoden in der agilen Zusammenarbeit eingesetzt werden sollten. Die Ergebnisse der Fallstudien bestätigen die Annahme, dass die drei identifizierten Kernthemen für eine effektive Zusammenarbeit im agilen Umfeld essenziell sind. Während einerseits nachgewiesen wurde, dass sich die Vertragsanforderungen hinsichtlich ihrer Flexibilität und Anpassungsfähigkeit veränderten, wurde andererseits auch nachgewiesen, dass das interne Setup agile Treiber, Techniken und Methoden erfordert, um eine effektive Zusammenarbeit mit agilen Dienstleistern zu ermöglichen. Dieser Artikel gibt einen Überblick über die wichtigsten Inhalte innerhalb der drei genannten Kernthemen und gibt Unternehmen zudem Hinweise, wie sie eine Basis für eine effektive Zusammenarbeit schaffen können.
Evolution of stock market efficiency in Europe: Evidence from measuring periods of inefficiency
(2024)
This study introduces novel measures to quantify periods of market inefficiency, enabling precise analysis of their evolution over time and effective comparisons across markets or groups of markets. These measures are applied to an extensive dataset comprising stock indices from 25 European countries from 2007 to 2022. The empirical findings reveal a 20% increase in market inefficiency across Europe, primarily driven by heightened average inefficiencies in the stock markets of the group of developed European countries such as Germany and the Scandinavian countries.