The research examines what drives Mergers and Acquisitions (M&As) using a theoretical and empirical approach. The theoretical part uses flexible optimal policies which adjust to changes in the market structure following a merger. The empirical part tests the major theoretical predictions to identify determinants of M&As in advanced economies. Chapters 1 and 2 consider M&As among firms in a pollution-intensive sector. Chapter 1 shows that identical polluting firms engage in M&As only if environmental policies are flexible. Chapter 2 shows that the flexibility of environmental policy increases the incentive to merge among heterogeneous firms. In addition, with flexible policy highly polluting firms have the highest incentive to merge than less polluting firms in a given sector. The empirical evidence suggests that the decision of manufacturing firms to engage in M&As is affected by environmental policy and firms may engage in merger deals in anticipation of a change in policy. Chapter 3 shows that with a flexible consumption tax firms in a bigger, more efficient country takeover firms in a smaller, less efficient country. The incentive to merge increases with the efficiency and market size of the host country. The empirical result obtained from 7 OECD countries shows that market size and firm efficiency play a major role in triggering international mergers.

This work exploits the general equilibrium modeling framework to simulate complex systems, an economy and an ecosystem. In an economic application, this work leverages a novel data revision scheme to integrate technological detail on electricity generation and pollution abatement into national accounts data in a traditional economic computed general equilibrium (CGE) model. This integration provides a rich characterization of generation and abatement for multiple fuel sources and pollutants across 72 different generation-abatement technology configurations. Results reveal that the benefits of reductions in oxides of nitrogen and sulfur from a carbon policy in the US electric sector are on the order of $10 bn., which rival the policy's welfare costs and make 12-13% carbon abatement economically justifiable without considering any climate benefits. For ecosystem applications, this work demonstrates how the structure of economic CGE modeling can be adapted to construct a Biological General Equilibrium (BGE) model grounded in the theoretical biology literature. The BGE model contributes a novel synthesis of micro-behavioral, bioenergetic features with macroscopic ecosystem outcomes and empirical food web data. Species respond to prevailing ecosystem scarcity conditions that impinge on their energy budgets driving population outcomes within and across model periods. This adaptive capacity is a critical advance over the commonly-taken phenomenological or first-order parametric approaches. The distinctive design of the BGE model enables numerical examination of how changes in scarcity drives biomass production and consumption in a complex food web. Moreover, the BGE model design can exploit empirical datasets used by extant ecosystem models to offer this level of insight for a wide cast of ecosystems. Monte carlo simulations demonstrate that the BGE framework can produce stable results for the ecosystem robust to a variety of shocks and parameterizations. The BGE model's validity is supported in tests against real-world phenomena within the Aleutian ecosystem - both an invasive species and a harvesting-induced trophic cascade - by mimicking key features of these phenomena. The BGE model's micro-founded dynamics, the stability and robustness of its results, and its validity against real-world phenomena offer a unique and valuable contribution to ecosystem modeling and a way forward for the integrated assessment of human-ecosystem interactions.

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O manejo pré-abate representa grande desafio para os abatedouros frigoríficos de suínos, por esta ser uma espécie muito susceptível ao estresse. Embora o atendimento às legislações e diretrizes de bem-estar animal já sejam a realidade em grandes abatedouros frigoríficos, pouco ainda é aplicado em estabelecimentos menores, tais como os inspecionados pelos serviços de inspeção municipal e estadual. As adequações das pocilgas e equipamentos de contenção e insensibilização podem agregar valor aos produtos derivados de pequenos estabelecimentos, muitas vezes ocorre grande perda da matéria-prima ocasionada por estruturas e manejo inadequado, levando a estresse dos animais e perdas por contusões na musculatura. O objetivo do presente estudo foi avaliar as estruturas e operações do manejo pré-abate de suínos em um abatedouro e propor alterações para melhor eficiência destas operações, visando consequente melhoria do bem-estar animal. Para tanto, o presente trabalho foi dividido em três etapas, como segue: Etapa 1) Avaliou-se a eficiência da insensibilização de 509 suínos nas condições regulares do abatedouro (primeira fase) e após a realização de um treinamento dos funcionários e a substituição do equipamento de insensibilização (segunda fase). A eficiência da insensibilização foi verificada por meio dos sinais de respiração rítmica, movimentos oculares, pedaleio, endireitamento da cabeça e tentativa de recuperar a postura, vocalização e se o animal voltou a andar. O estudo revelou que apenas 28,28% dos suínos estavam adequadamente insensibilizados na primeira fase. Já na segunda fase, verificou-se uma importante melhoria, sendo que 82,55% estavam insensibilizados adequadamente. Etapa 2) Nas análises das instalações das pocilgas de recepção e espera existentes atualmente, verificou-se diversas inconformidades em relação à legislação vigente e às recomendações de bem-estar no manejo pré-abate de suínos. Foi proposta melhorias a serem realizadas visando melhorar o bem-estar animal e qualidade da carne, por meio do desenvolvimento do projeto das novas instalações para o desembarque, corredor de acesso, pocilgas de espera e matança dos suínos, incluindo o levantamento do valor para estas reformas, orçadas em R$ 128.480,27. Etapa 3) As estruturas da área de insensibilização e sangria também foram avaliadas e verificou-se diversas deficiências, tanto ergonômicas para os funcionários como para o bem-estar animal. Também neste caso foi proposto um projeto de melhorias para este setor, incluindo a instalação de um box de contenção e insensibilização e mesa de sangria, visando maior rapidez no processo, o que reduziria ainda mais os problemas de insensibilização inadequada verificados na Etapa 1. Conclui-se que simples treinamentos de funcionários e ajustes de equipamentos são importantes para melhorar o bem-estar no abate de suínos, e maiores investimentos precisam ser realizados nas estruturas de recepção e abate dos suínos para garantir o bem-estar animal adequado em todas as operações do manejo pré-abate do abatedouro estudado. / The pre-slaughter management presents a great challenge for the slaughterhouses of pigs, because this is a species very susceptible to stress. Although compliance with animal welfare legislation and guidelines is already the reality in large slaughterhouses, little is still applied in smaller establishments, such as those inspected by the municipal and state inspection services. The adequacies of styes and containment and desensitization equipment can add value to products derived from small establishments, often a great loss of raw material caused by structures and improper handling, leading to animal stress and losses due to bruises on the musculature. The objective of the present study was to evaluate the structures and operations of the pre-slaughtering of pigs in a slaughterhouse and to propose changes to improve the efficiency of these operations, aiming at the consequent improvement of animal welfare. To do so, the present work was divided in three stages, as follows: Step 1) The efficiency of the desensitization of 509 pigs under the regular conditions of the slaughterhouse (first phase) and after the training of the employees and the replacement of the equipment (second phase). The efficiency of the desensitization was verified through the signs of rhythmic breathing, ocular movements, pedaling, straightening of the head and attempt to recover the posture, vocalization and if the animal returned to walk. The study revealed that only 28.28% of the pigs were adequately numbed in the first stage. In the second phase, there was an important improvement, with 82.55% being adequately numbed. Step 2) In the analysis of the facilities of the reception and waiting pens currently in existence, there were several non-conformities regarding current legislation and welfare recommendations on the pre-slaughtering of pigs. Improvements to animal welfare and meat quality have been proposed through the development of the new landing facility design, access corridor, porpoise and pig slaughtering facilities, including the assessment of the value of these facilities reforms, budgeted at R $ 128,480.27. Step 3) The structures of the area of desensitization and bleeding were also evaluated and there were several deficiencies, both ergonomic for employees and for animal welfare. Also in this case, a project of improvements for this sector was proposed, including the installation of a containment and desensitization box and bleeding table, aiming at a faster process, which would further reduce the problems of inadequate desensitization verified in Step 1. Concludes that simple employee training and equipment adjustments are important to improve welfare at pig slaughter, and greater investments need to be made in the reception and slaughtering structures of pigs to ensure adequate animal welfare in all operations of the pre-slaughtering management of the slaughterhouse studied.

South Florida continues to become increasingly developed and urbanized. My exploratory study examines connections between land use and water quality. The main objectives of the project were to develop an understanding of how land use has affected water quality in Miami-Dade canals, and an economic optimization model to estimate the costs of best management practices necessary to improve water quality. Results indicate Miami-Dade County land use and water quality are correlated. Through statistical factor and cluster analysis, it is apparent that agricultural areas are associated with higher concentrations of nitrogen, while urban areas commonly have higher levels of phosphorous than agricultural areas. The economic optimization model shows that urban areas can improve water quality by lowering fertilizer inputs. Agricultural areas can also implement methods to improve water quality although it may be more expensive than urban areas. It is important to keep solutions in mind when looking towards future water quality improvements in South Florida.

O manejo pré-abate representa grande desafio para os abatedouros frigoríficos de suínos, por esta ser uma espécie muito susceptível ao estresse. Embora o atendimento às legislações e diretrizes de bem-estar animal já sejam a realidade em grandes abatedouros frigoríficos, pouco ainda é aplicado em estabelecimentos menores, tais como os inspecionados pelos serviços de inspeção municipal e estadual. As adequações das pocilgas e equipamentos de contenção e insensibilização podem agregar valor aos produtos derivados de pequenos estabelecimentos, muitas vezes ocorre grande perda da matéria-prima ocasionada por estruturas e manejo inadequado, levando a estresse dos animais e perdas por contusões na musculatura. O objetivo do presente estudo foi avaliar as estruturas e operações do manejo pré-abate de suínos em um abatedouro e propor alterações para melhor eficiência destas operações, visando consequente melhoria do bem-estar animal. Para tanto, o presente trabalho foi dividido em três etapas, como segue: Etapa 1) Avaliou-se a eficiência da insensibilização de 509 suínos nas condições regulares do abatedouro (primeira fase) e após a realização de um treinamento dos funcionários e a substituição do equipamento de insensibilização (segunda fase). A eficiência da insensibilização foi verificada por meio dos sinais de respiração rítmica, movimentos oculares, pedaleio, endireitamento da cabeça e tentativa de recuperar a postura, vocalização e se o animal voltou a andar. O estudo revelou que apenas 28,28% dos suínos estavam adequadamente insensibilizados na primeira fase. Já na segunda fase, verificou-se uma importante melhoria, sendo que 82,55% estavam insensibilizados adequadamente. Etapa 2) Nas análises das instalações das pocilgas de recepção e espera existentes atualmente, verificou-se diversas inconformidades em relação à legislação vigente e às recomendações de bem-estar no manejo pré-abate de suínos. Foi proposta melhorias a serem realizadas visando melhorar o bem-estar animal e qualidade da carne, por meio do desenvolvimento do projeto das novas instalações para o desembarque, corredor de acesso, pocilgas de espera e matança dos suínos, incluindo o levantamento do valor para estas reformas, orçadas em R$ 128.480,27. Etapa 3) As estruturas da área de insensibilização e sangria também foram avaliadas e verificou-se diversas deficiências, tanto ergonômicas para os funcionários como para o bem-estar animal. Também neste caso foi proposto um projeto de melhorias para este setor, incluindo a instalação de um box de contenção e insensibilização e mesa de sangria, visando maior rapidez no processo, o que reduziria ainda mais os problemas de insensibilização inadequada verificados na Etapa 1. Conclui-se que simples treinamentos de funcionários e ajustes de equipamentos são importantes para melhorar o bem-estar no abate de suínos, e maiores investimentos precisam ser realizados nas estruturas de recepção e abate dos suínos para garantir o bem-estar animal adequado em todas as operações do manejo pré-abate do abatedouro estudado. / The pre-slaughter management presents a great challenge for the slaughterhouses of pigs, because this is a species very susceptible to stress. Although compliance with animal welfare legislation and guidelines is already the reality in large slaughterhouses, little is still applied in smaller establishments, such as those inspected by the municipal and state inspection services. The adequacies of styes and containment and desensitization equipment can add value to products derived from small establishments, often a great loss of raw material caused by structures and improper handling, leading to animal stress and losses due to bruises on the musculature. The objective of the present study was to evaluate the structures and operations of the pre-slaughtering of pigs in a slaughterhouse and to propose changes to improve the efficiency of these operations, aiming at the consequent improvement of animal welfare. To do so, the present work was divided in three stages, as follows: Step 1) The efficiency of the desensitization of 509 pigs under the regular conditions of the slaughterhouse (first phase) and after the training of the employees and the replacement of the equipment (second phase). The efficiency of the desensitization was verified through the signs of rhythmic breathing, ocular movements, pedaling, straightening of the head and attempt to recover the posture, vocalization and if the animal returned to walk. The study revealed that only 28.28% of the pigs were adequately numbed in the first stage. In the second phase, there was an important improvement, with 82.55% being adequately numbed. Step 2) In the analysis of the facilities of the reception and waiting pens currently in existence, there were several non-conformities regarding current legislation and welfare recommendations on the pre-slaughtering of pigs. Improvements to animal welfare and meat quality have been proposed through the development of the new landing facility design, access corridor, porpoise and pig slaughtering facilities, including the assessment of the value of these facilities reforms, budgeted at R $ 128,480.27. Step 3) The structures of the area of desensitization and bleeding were also evaluated and there were several deficiencies, both ergonomic for employees and for animal welfare. Also in this case, a project of improvements for this sector was proposed, including the installation of a containment and desensitization box and bleeding table, aiming at a faster process, which would further reduce the problems of inadequate desensitization verified in Step 1. Concludes that simple employee training and equipment adjustments are important to improve welfare at pig slaughter, and greater investments need to be made in the reception and slaughtering structures of pigs to ensure adequate animal welfare in all operations of the pre-slaughtering management of the slaughterhouse studied.

<div>This dissertation consists of three chapters about the European Union Emissions Trading Scheme (EU ETS). All chapters contributes to the scarce but recently great developing literature on installation and firm-level studies in the EU ETS. The first chapter evaluates the policy effectiveness and efficiency by theoretical modelling and</div><div>empirical assessment of firms’ emission abatement activities. The second chapter overviews the global emission trading market, documents the institutional background</div><div>of emission trading, and analyzes firms’ emission trading patterns in light of the broader empirical literature. The last chapter studies productivity and firms’ emission</div><div>permit trading behaviors by considering a complete set of options. In the first chapter, I investigate how firms reduce emissions under continuous adjustment of the policy by using the implementation of the three phases of EU ETS</div><div>as a cost shock. I develop a model of emission abatement with heterogeneous firms by introducing two channels: Reallocation and Investment which incur variable and</div><div>fixed abatement costs respectively. More productive firms are cleaner as they put more effort on Investment. However, the policy effect is ambiguous driven by the magnitude</div><div>and correlation of the proposed abatement technology parameters, which highlights the importance of the current abatement technology for firms’ responses to climate</div><div>policy. I then empirically test the model by using a novel dataset that matches firms’ financial, production and emission data. In addition to providing the elasticity of</div><div>emission intensity, the elasticity of Reallocation and Investment, the model enabled me to estimate the firm’s abatement technology parameters and decompose the emissions into the proposed two channels. The results indicate that firms have a higher efficiency on abatement in utilizing of inputs than green technology investment. The emission change is primarily driven by the channel of Reallocation and is concentrated in non-metallic</div><div>mineral companies. The green innovation is limited under the policy with a small emission intensity decrease even though there is large emission reductions. The second chapter reviews the global rise of emission trading, documents the institutional background of emission trading, and summarizes firms’ emission trading patterns. To the best of my knowledge, this study is one of the first to empirically analyze the trading behaviors of all ETS firms covering all three phases in the EU ETS. I use two micro-level datasets to investigate the permit trading behaviors of all types of trading in the market, including international offset permits. Some explanations of the identified trading patterns are provided in this paper. Additionally, this study also discusses the patterns in light of the broader empirical literature. The last chapter contributes to the literature on the firms’ permit trading behaviors. The development of the EU ETS has complicated firms’ decisions around carbon trading and offered firms more options to offset emissions. We provide a first look at the determinants behind firms’ participation in the EU ETS as well as their trading behaviors by considering a complete portfolio of permit trade markets</div><div>in the EU ETS. Based on a comprehensive permit transaction dataset linked with individual level firm’s characteristics, we quantitatively analyze firms’ participation</div><div>decisions and trading patterns. We focus on the impact of firms’ productivity, endowment position, and endowment value on market choice and trading amount. Our</div><div>results suggest that productive firms are more likely to participate in permits trading and to purchase the permits in the secondary and international markets. Conditional</div><div>on firms’ market choice, the permit trading amount is also correlated with a firm’s productivity and endowment value. In addition, firms in power and energy sector are</div><div>more likely to participate in permit trading than other manufacturing firms. Overall, the empirical results indicate that less productive firms have disadvantages competing</div><div>in the permit trade market.</div>

Animal welfare, reproduction, and milk production can be negatively affected when dairy cattle experience heat stress. Dairy cows in southern latitudes spend nearly 4 to 6 months in a state of heat stress. Animal health professionals and dairy producers use changes in physiological responses and behavioral patterns of cows as a tool for identifying poor health and welfare in periods of heat stress. The objectives of this study were to monitor the effects of heat stress on grazing dairy cows provided with shade or sprinklers by comparing various physiological indices of heat stress, and to, design and utilize a heat stress scoring system to evaluate heat stress severity on grazing dairy cows with access to shade and sprinklers. Finally, the results were used to predict the accuracy of the scoring system with machine learning methods. The findings from this study provide a new tool to assess heat stress in dairy cows.

No description available.