If we want to compare the explanatory and descriptive adequacy of the MP and OT, the original definitions by Chomsky (1964) are or little direct use. However, a relativized version of both notions can be defined, which can be used to express a number of parallels between the study of individual I-languages and the language faculty. In any version of explanatory and descriptive adequacy, the two notions derive from the research programme and can only be achieved together. They can therefore not be used to characterize the difference in orientation between OT and the MP. Even if ‘OT’ is restricted to a particular theory in Chomskyan linguistics (to the exclusion of, for instance, its use in LFG), it cannot be said to be stronger in descriptive adequacy than in explanatory adequacy in the technical sense of these terms.

No description available.

While two objectives of deregulation are to reduce service interruptions and achieve lower energy costs, deregulation has actually introduced new problems in both areas. Since the transmission network was built in the last century, mainly for the regulated power systems, with mostly local power transfers, the increased long distance power transfer introduced by free energy trading has made congestion happen more frequently. When congestion happens, service interruptions occur and higher energy costs arise. We approach the issue from the viewpoints of both planning and online operations. Accordingly, we develop a reactive online remedying method that uses Flexible AC Transmission (FACTS) devices to eliminate congestion with minimum transaction curtailment to maintain market force. We also develop a proactive preventive method for offline planning, such as in the day-ahead market, which uses FACTS devices to maximize the Total Transfer Capability so that more transactions can be scheduled without causing congestion in the system. Optimal Power Flow is used for both methods with FACTS devices treated as control variables so that they can be adjusted to the best FACTS parameters to minimize the transaction curtailment or maximize the Total Transfer Capability. We demonstrate that FACTS devices are very effective for both situations. Since the installation of FACTS devices involves heavy infrastructure investment, an effective pricing method needs to be in place to encourage this investment by guaranteeing sufficient return. This research uses a novel pricing scheme to charge for both utilizing the FACTS devices and having the FACTS devices operating at their limits. The owners of the FACTS devices will then be able to recover their investment. With the above control method and the pricing method, we can make better use of the existing transmission network and relieve congestion. However, deregulation may also degrade system reliability since the generation companies are not obligated to sell into the market and market participation is driven by market forces instead. We use the market share based short-term adequacy analysis method to address generation resource adequacy issues. The market share based method uses the market share time series for the generation companies to reflect their market behavior in the new environment. Multiple regression modeling, a tool of time series analysis, is used to model involved factors. We demonstrate how the market share based short-term adequacy analysis method can capture the adequacy problems that the traditional method cannot. In addition, it can also help to remedy the adequacy problems, which can in turn reduce service interruption and thus the energy price.

No description available.

Bulk electric system reliability analysis is an important activity in both vertically integrated and unbundled electric power utilities. Competition and uncertainty in the new deregulated electric utility industry are serious concerns. New planning criteria with broader engineering consideration of transmission access and consistent risk assessment must be explicitly addressed. Modern developments in high speed computation facilities now permit the realistic utilization of sequential Monte Carlo simulation technique in practical bulk electric system reliability assessment resulting in a more complete understanding of bulk electric system risks and associated uncertainties. Two significant advantages when utilizing sequential simulation are the ability to obtain accurate frequency and duration indices, and the opportunity to synthesize reliability index probability distributions which describe the annual index variability. <p>This research work introduces the concept of applying reliability index probability distributions to assess bulk electric system risk. Bulk electric system reliability performance index probability distributions are used as integral elements in a performance based regulation (PBR) mechanism. An appreciation of the annual variability of the reliability performance indices can assist power engineers and risk managers to manage and control future potential risks under a PBR reward/penalty structure. There is growing interest in combining deterministic considerations with probabilistic assessment in order to evaluate the system well-being of bulk electric systems and to evaluate the likelihood, not only of entering a complete failure state, but also the likelihood of being very close to trouble. The system well-being concept presented in this thesis is a probabilistic framework that incorporates the accepted deterministic N-1 security criterion, and provides valuable information on what the degree of the system vulnerability might be under a particular system condition using a quantitative interpretation of the degree of system security and insecurity. An overall reliability analysis framework considering both adequacy and security perspectives is proposed using system well-being analysis and traditional adequacy assessment. The system planning process using combined adequacy and security considerations offers an additional reliability-based dimension. Sequential Monte Carlo simulation is also ideally suited to the analysis of intermittent generating resources such as wind energy conversion systems (WECS) as its framework can incorporate the chronological characteristics of wind. The reliability impacts of wind power in a bulk electric system are examined in this thesis. Transmission reinforcement planning associated with large-scale WECS and the utilization of reliability cost/worth analysis in the examination of reinforcement alternatives are also illustrated.

<p>Very little protection has been afforded to wetlands1 and estuaries within the South African legislative framework.2 These ecosystems are extremely important and valuable to mankind, the flora and fauna.3 The continued destruction of wetlands and estuaries is the most heinous act of environmental vandalism on a worldwide scale today.4 Wetland and estuarine loss has been accelerated and extended by human activities such as mining,5 urbanisation,6 drainage, river diversion,7 groundwater abstraction as well as climate change.8 Time is running out for so many critically important sites and for the world at large.9 Without wetlands and estuaries the biosphere10 cannot continue to do its essential work.11 Despite, the importance of a range of resources and services12 which wetlands and estuaries provide, these have been taken for granted by humans.13 As a result hereof, the maintenance of wetlands and estuaries has received low priority in many countries.14 This is further precipitated by the lack of interest and ignorance which result in the conversion of wetlands and estuaries into man-made structures.15 Research has shown that the lack of information and the awareness of the importance of these ecosystems has the made the conservation legislation for these ecosystems a toothless dragon.16 People are becoming increasingly aware17 of the loss of wetlands and estuaries, once in abundance and now merely shadows of their former nature.18 To investigate this lack of protection, the starting point would be the global level.</p>

Problem and purpose: The authors were interested in studying how large Swedish banks managed liquidity risks when facing the financial crisis of 2008 and whether the implementation of Basel II framework had an impact on the major Swedish banks' capital adequacy. Furthermore, the authors intend to examine how, based on the analysis of the implementation of Basel II, the introduction of Basel III will affect major Swedish banks' liquidity in the future. Method: The essay is written from a quantitative approach and has a deductive perspective. Data was collected from the annual reports of the selected banks to later use relevant theories to analyze the work. Theory: This part of the essay presents relevant theories, a detailed description of the Basel regulatory framework and its requirements, rules for capital adequacy and to relevant key to achieve the Basel regulatory requirements are considered. Furthermore the authors present criticism of the Basel framework and a summary of the key theoretical points to be used for analyzing empirical data. Empirical: In this chapter the data collected from selected banks is presented and processed. Conclusion: The essay authors present the deficiencies and weaknesses that make the Basel II regulatory framework inadequate for the Swedish financial market. Essay authors also present their opinions regarding how the latest form of the Basel regulations could have a more significant influence on the long-term stability of Swedish banks and how this may increase protection against potential liquidity risks.

This thesis compares insurance premium principles with current financial risk paradigms and uses distorted probabilities, a recent development in premium principle literature, to synthesize the current models for financial risk measures in banking and insurance. This work attempts to broaden the definition of value-at-risk beyond the percentile measures. Examples are used to show how the percentile measure fails to give consistent results, and how it can be manipulated. A new class of consistent risk measures is investigated.

Bulk electric system reliability analysis is an important activity in both vertically integrated and unbundled electric power utilities. Competition and uncertainty in the new deregulated electric utility industry are serious concerns. New planning criteria with broader engineering consideration of transmission access and consistent risk assessment must be explicitly addressed. Modern developments in high speed computation facilities now permit the realistic utilization of sequential Monte Carlo simulation technique in practical bulk electric system reliability assessment resulting in a more complete understanding of bulk electric system risks and associated uncertainties. Two significant advantages when utilizing sequential simulation are the ability to obtain accurate frequency and duration indices, and the opportunity to synthesize reliability index probability distributions which describe the annual index variability. <p>This research work introduces the concept of applying reliability index probability distributions to assess bulk electric system risk. Bulk electric system reliability performance index probability distributions are used as integral elements in a performance based regulation (PBR) mechanism. An appreciation of the annual variability of the reliability performance indices can assist power engineers and risk managers to manage and control future potential risks under a PBR reward/penalty structure. There is growing interest in combining deterministic considerations with probabilistic assessment in order to evaluate the system well-being of bulk electric systems and to evaluate the likelihood, not only of entering a complete failure state, but also the likelihood of being very close to trouble. The system well-being concept presented in this thesis is a probabilistic framework that incorporates the accepted deterministic N-1 security criterion, and provides valuable information on what the degree of the system vulnerability might be under a particular system condition using a quantitative interpretation of the degree of system security and insecurity. An overall reliability analysis framework considering both adequacy and security perspectives is proposed using system well-being analysis and traditional adequacy assessment. The system planning process using combined adequacy and security considerations offers an additional reliability-based dimension. Sequential Monte Carlo simulation is also ideally suited to the analysis of intermittent generating resources such as wind energy conversion systems (WECS) as its framework can incorporate the chronological characteristics of wind. The reliability impacts of wind power in a bulk electric system are examined in this thesis. Transmission reinforcement planning associated with large-scale WECS and the utilization of reliability cost/worth analysis in the examination of reinforcement alternatives are also illustrated.

For the evaluation of banks¡¦ performance, non-performing loans ratio and capital adequacy ratio are the two major indicators other than earnings performance. Among the various tools for earnings manipulation, loan loss provisions may be the only one that could affect bank¡¦s earning numbers, non-performing loans ratio and capital adequacy ratio simultaneously. In order to satisfy the need to increase earnings and capital adequacy ratio and to decrease non-performing loans ratio, banks may have motivation to conduct earnings management. The purpose of the study is thus to investigate whether there is a relationship between the earnings management by using the discretionary loan loss provisions and the earnings before loan loss provisions, non-performing loans ratio, capital adequacy ratio, asset size, loan growth rate, and loans uncollected. In addition, the study divides the sample banks into the following categories: (1) commercial banks versus others, (2) new banks versus old banks (based on the time the bank was founded), and (3) state-run versus non-state-run (based on whether the president of the bank is appointed by the government). The study also intends to examine whether earnings management conducted by the bank¡¦s management is different between the various categories. Based on the empirical results from the Taiwan Economics Journal (TEJ) database, the study found: (1) the three variables of earnings before loan loss provisions, asset size, and loans uncollected are significantly related to the earnings management by using discretionary loan loss provisions, and the higher the three variables, the higher the degree of earnings management; (2) non-performing loans ratio, capital adequacy ratio, and loan growth rate are not found to be significantly related to the earnings management by using discretionary loan loss provisions; (3) state-run banks have conducted more earnings management than non-state-run banks; and (4) there is no significant result found in other analyses for other categories.