Conventional methods of groundwater modeling are based on applying laminar flow condition in the aquifer and assuming primary porosity to be present in the aquifer. But in cases where conduits, caves, springs and sinks characterize the aquifer as in karst, this assumption is inappropriate. In addition to Darcian flow condition in matrix portion of aquifer there should be consideration for dealing with non-Darcian flow in the conduits where high velocity of flow occurs. Presence of conduit network in the aquifer greatly affects the potentiometric heads within the aquifer. Hence the necessity of different modeling method has long been realized for karst aquifers. MODFLOW-Conduit Flow Process (CFP) has the capability to simulate both turbulent and laminar groundwater flow condition present in caves and conduits portion of karst aquifers. This study examined the cases where a sub-regional model was used to simulate discharge of springs and heads both with and without considering the presence of conduit network in the aquifer using MODFLOW-CFP 2005 and MODFLOW 2005 respectively. Comparison of results showed that the potentiometric head in the area consisting conduit network were unrealistically low when conduit network was not considered to be present in the matrix. This study also introduces and uses a program called CONGEN to generate conduit flow process file for CFP Mode 1. Furthermore this study also carried out the benchmark testing to examine the capability of MODFLOW-CFP to simulate both laminar and turbulent pipe flow in the conduits for a sub-regional scale. Results from transient state simulation indicate that, although MODFLOW-CFP considers both laminar and turbulent flow conditions in the pipe like conduits in the karst, it underestimated the peak discharge of the springs in this study.

Denna studie undersöker det finansiella värdeskapandet av CSR-aktiviteter genom att studera förhållandet mellan Corporate Social Performance (CSP) och Corporate Financial Performance (CFP). I enlighet med The CSP-CFP multilevel framework studeras ett avgränsat CSP-CFP samband med utgångspunkt i svenska konsumenter. Vidare undersöker studien den modererande effekten av företagsstorlek på det undersökta CSP-CFP sambandet. Av resultatet framkommer ett signifikant positivt CSP-CFP förhållande för CSR-aktiviteter riktade mot svenska konsumenter. Av resultatet framkommer även ett signifikant starkare positivt CSP-CFP samband för små svenska företag jämfört med för stora svenska företag. Resultatet bidrar till en ökad förståelse av CSP-CFP förhållandet på den svenska marknaden avgränsat för intressentgruppen konsumenter. Framtida forskning kan med fördel, genom kvalitativa metoder, undersöka de underliggande faktorerna som påverkar det finansiella värdeskapandet av CSR-aktiviteter riktade mot konsumenter.

Syfte: Ett flertal studier har undersökt om socialt ansvarstagande (CSR) är lönsamt, men inga entydiga bevis finns. Tidigare undersökningar har dock implicit antagit att CSR-aktiviteter är lönsamma oavsett hur de implementeras. Vi ifrågasätter detta antagande och undersöker hur implementeringen av CSR påverkar dess lönsamhet. Vi undersöker om variablerna takt, konsekvens och väg förklarar relationen mellan CSR och bolagens lönsamhet. Metod: Studien är utförd enligt ett positivistiskt perspektiv med en hypotetisk-deduktiv ansats och en longitudinell design med fem års observationer. Data har insamlats från Thomson Reuters Eikon och Thomson Reuters Datastream. Data har analyserats med statistiska metoder. Resultat & slutsats: Studien visaratt implementeringen av CSR påverkar bolags CFP och studien diskuterar de teoretiska förutsättningarna för sådana effekter. Bolag kan påverka lönsamheten av CSRgenom att implementera den på rätt sätt. Förslag till fortsatt forskning: Ett förslag till fortsatta studier av CSR-implementering är att inte bara mätabolagens redovisningsmässiga mått utan även se på de marknadsmässiga. Att mäta bolag CSR-aktiviteter med start i tidigare årtal än vi gjort kan dessutom öka möjligheten att mäta effekter av implementering. Uppsatsens bidrag: Föreliggande studie utvidgar CSR-litteraturen och redovisningslitteraturen genom att (1) diskutera hur implementering av CSR kan påverka dess lönsamhet och (2) empiriskt undersöka effekten av implementering av CSR på lönsamhet. Det praktiska bidraget är att kunskap om hur implementering av CSR kan påverka lönsamheten är till nytta för all implementering av CSR och för behovet av lagstiftning om socialt ansvarstagande. / Aim: A number of studies have investigated whether social responsibility (CSR) is profitable, but no unambiguous evidence exists. However, previous surveys have implicitly assumed that CSR activities are profitable regardless of how they are implemented. We question this assumption and investigate how the implementation of CSR affects its profitability. We investigate whether the variables pace, consistency and path explain the relationship between CSR and the company's profitability. Method: The study is conducted in a positivist perspective with a hypothetical deduction. The procedure is quantitative and secondary data has been collected from Thomson Reuters Eikon and Thomson Reuters Datastream. The data from this longitudinal study has been analyzed and processed in MiniTab. Result & Conclusions: The study is conducted in a positivist perspective with a hypothetical deduction and a longitudinal design with fiveyear’s observations. Data has been collected from Thomson Reuters Eikon and Thomson Reuters Datastream. Data has been analyzed using statistical methods. Suggestion for future research: A proposal for further study of CSR implementation is to not only measure the company's accounting standards but also look at the market-related. Measuring companies CSR activities starting in earlier years than we did can also increase the ability to measure effects of implementation. Contribution of the thesis: Present study extends the CSR literature and accounting literature by (1) discussing how implementation of CSR can affect its profitability and (2) empirically investigates the impact of CSR implementation on profitability. The practical contribution is that knowledge about how the implementation of CSR can affect profitability is beneficial to all implementation of CSR and the need for social responsibility legislation.

Title: Analysis of running technique and efficiency when using Nike Air Zoom Alphafly shoes. Objectives: The main goal is to identify possible changes in selected physiological parameters and biomechanics of running when using Nike Air Zoom Alphafly shoes compared to standard running shoes. Methods: A 3D treadmill (H/P Cosmos Gaitway II S, Germany) was used in the analysis of running biomechanics. For the analysis of physiological parameters, the Metalyzer device was used within the spiroergometric examination of the run. The Borg scale was used to analyze the subjective assessment of the load. A paired T-test of Excel software was used to process the results. Results: The results of the work partially show a change in the biomechanics of running. A statistically significant difference was recorded at all speeds (15 km/h, 18 km/h, 21 km/h) in loading rate (p15 = 0,003; p18 = 0,000; p21 = 0,001) and time to impact peak (p15 = 0,017; p18 = 0,022; p21 = 0,003). At a speed of 15 km/h, an additional difference in running cadence (p = 0,044) was noted. The results show a statistically significant change in the economics of running all measured parameters, in oxygen intake converted to kilograms of weight (p = 0,003), minute ventilation (p = 0,000), respiratory rate (p = 0,000), respiratory coefficient (p...

South Africa has faced many changes in the last 20 years. There are some glaringly obvious ones such as democracy while others, such as the considerable increase of the legislative and regulatory requirements in the financial-services industry, are more subtle. Both however, have far-reaching consequences for both individuals and businesses. In Schaeffer's keynote address at the 2011 Financial Planning Convention, the global trends currently influencing the financial-planning profession were pointed out. These included the move towards a more relationship-based approach between financial planners and their clients, with holistic service offerings and regulatory change. Currently close to 100 000 Financial Services Board (FSB)-registered brokers/ advisors/ planners/ consultants claim to offer financial advice. Of these representatives only 4 600 (approximately) are Certified Financial Planner® professionals. The Financial Planning Institute of Southern Africa (FPI) maintains that the regulatory environment governing the financial industry is dynamic. Coupled with a tumultuous economic environment, this enforces the importance of an expert to assist individuals and businesses in planning for the future. The primary purpose of the Financial Advisory and Intermediaries Services Act (FAIS Act) is to: 1. protect the client against indecorous conduct by the financial service provider (FSP) and its representatives when providing financial advice and/or rendering intermediary services to clients; 2. ensure economic efficiency of the industry; 3. ensure that clients of FSPs are provided with sufficient information regarding their financial products, the representatives selling the products, the represented FSP and the product provider offering the products. The effect of the FAIS Act is that key individuals and representatives are now being held responsible for their actions, which may include providing incorrect information or not having sufficient qualifications or experience. According to the FSB the FAIS Fit and Proper requirements determine a set of requirements that all FSPs, key individuals and representatives need to comply with. The Determination of Fit and Proper Requirements of 2008 outlines the categories of fit and proper requirements for FSPs, their key individuals and representatives. The categories of the FAIS Fit and Proper requirements are: - honesty and integrity requirements for FSPs, key individuals and representatives; - competency requirements of FSPs, key individuals and representatives; - experience requirements of FSPs, key individuals and representatives; - qualifications requirements of key individuals and representatives; - regulatory examinations requirements of key individuals and representatives; - continuous professional development requirements of FSPs, key individuals and representatives; - operational ability of FSPs, key individuals and representatives; and - solvency of FSPs. The empirical study of the research was conducted nationally, within South Africa. The focus of the study was to investigate the perception of financial planners with regard to the regulatory and legislative prescriptions of the financial-services industry. The general objective of the study is to provide a quantitative measure of the perception of financial planners of the effect that the legislative and regulatory requirements in South Africa have on the ethicality of the financial-planning industry. To achieve this objective, the empirical study focussed on the responsibilities of financial-services providers and the FAIS fit and proper requirements as set out by the FAIS Act. The population identified for the empirical study consisted of financial planners that provide advisory and/or intermediary services in South Africa. The population of the study consisted of the full advisory complement, 826, which form part of the advisory division of a major South African financial-services provider. These financial planners are located across South Africa, in all nine provinces and in rural and metropolitan areas. Based on the result of the adjusted sample size equation, the required sample size for the study is reduced from 266 to 201. A total of 260 responses were received for the study which ensures a high level of accuracy is achieved from the findings of the research. The results of the empirical study provide ample proof that financial planners support the necessity and specificity of the FAIS fit and proper requirements as defined by the FAIS Act. Additionally, the financial planners agree that the determinants of the FAIS Act are not only beneficial to the sustainability and ethicality of the industry, but also support the success of the planner and ultimately ensure that clients receive the best possible financial advisory and/or intermediary services. / MBA, North-West University, Potchefstroom Campus, 2015

South Africa has faced many changes in the last 20 years. There are some glaringly obvious ones such as democracy while others, such as the considerable increase of the legislative and regulatory requirements in the financial-services industry, are more subtle. Both however, have far-reaching consequences for both individuals and businesses. In Schaeffer's keynote address at the 2011 Financial Planning Convention, the global trends currently influencing the financial-planning profession were pointed out. These included the move towards a more relationship-based approach between financial planners and their clients, with holistic service offerings and regulatory change. Currently close to 100 000 Financial Services Board (FSB)-registered brokers/ advisors/ planners/ consultants claim to offer financial advice. Of these representatives only 4 600 (approximately) are Certified Financial Planner® professionals. The Financial Planning Institute of Southern Africa (FPI) maintains that the regulatory environment governing the financial industry is dynamic. Coupled with a tumultuous economic environment, this enforces the importance of an expert to assist individuals and businesses in planning for the future. The primary purpose of the Financial Advisory and Intermediaries Services Act (FAIS Act) is to: 1. protect the client against indecorous conduct by the financial service provider (FSP) and its representatives when providing financial advice and/or rendering intermediary services to clients; 2. ensure economic efficiency of the industry; 3. ensure that clients of FSPs are provided with sufficient information regarding their financial products, the representatives selling the products, the represented FSP and the product provider offering the products. The effect of the FAIS Act is that key individuals and representatives are now being held responsible for their actions, which may include providing incorrect information or not having sufficient qualifications or experience. According to the FSB the FAIS Fit and Proper requirements determine a set of requirements that all FSPs, key individuals and representatives need to comply with. The Determination of Fit and Proper Requirements of 2008 outlines the categories of fit and proper requirements for FSPs, their key individuals and representatives. The categories of the FAIS Fit and Proper requirements are: - honesty and integrity requirements for FSPs, key individuals and representatives; - competency requirements of FSPs, key individuals and representatives; - experience requirements of FSPs, key individuals and representatives; - qualifications requirements of key individuals and representatives; - regulatory examinations requirements of key individuals and representatives; - continuous professional development requirements of FSPs, key individuals and representatives; - operational ability of FSPs, key individuals and representatives; and - solvency of FSPs. The empirical study of the research was conducted nationally, within South Africa. The focus of the study was to investigate the perception of financial planners with regard to the regulatory and legislative prescriptions of the financial-services industry. The general objective of the study is to provide a quantitative measure of the perception of financial planners of the effect that the legislative and regulatory requirements in South Africa have on the ethicality of the financial-planning industry. To achieve this objective, the empirical study focussed on the responsibilities of financial-services providers and the FAIS fit and proper requirements as set out by the FAIS Act. The population identified for the empirical study consisted of financial planners that provide advisory and/or intermediary services in South Africa. The population of the study consisted of the full advisory complement, 826, which form part of the advisory division of a major South African financial-services provider. These financial planners are located across South Africa, in all nine provinces and in rural and metropolitan areas. Based on the result of the adjusted sample size equation, the required sample size for the study is reduced from 266 to 201. A total of 260 responses were received for the study which ensures a high level of accuracy is achieved from the findings of the research. The results of the empirical study provide ample proof that financial planners support the necessity and specificity of the FAIS fit and proper requirements as defined by the FAIS Act. Additionally, the financial planners agree that the determinants of the FAIS Act are not only beneficial to the sustainability and ethicality of the industry, but also support the success of the planner and ultimately ensure that clients receive the best possible financial advisory and/or intermediary services. / MBA, North-West University, Potchefstroom Campus, 2015

Syfte: I ett flertal tidigare studier har positiva samband mellan hållbarhetsprestationer (CRP) och finansiella resultat (CFP) hittats och försökt förklaras. Dock har endast ett fåtal antagit synsättet att immateriella resurser fungerar som medlare för dessa samband. Vi menar att de immateriella resurserna har en betydande roll, för sambandet. Med hjälp av de immateriella resurserna formas en positiv spiral som ökar hållbarhetsprestationer och finansiellt resultat i båda kausala riktningarna. Vi vill belysa huruvida detta positiva, medlande samband existerar samt om tillväxt stärker sambandet mellan CRP och CFP, genom de immateriella resurserna. Metod: Studien har antagit en positivistisk forskningsfilosofi med en hypotetisk-deduktiv ansats. En kvantitativ metod har använts genom att sekundärdata samlats in från databasen Thomson Reuters Eikon. I en longitudinell design har fem års observationer använts för ett urval av 113 publika industriföretag där inhämtat data har analyserats statistiskt. Resultat & slutsats: Denna studie fann övervägande negativa samband och kan inte visa att de immateriella resurserna medlar kopplingen mellan CRP och CFP i en positiv spiral. Studiens resultat visar dock att immateriella resurser har betydelse för uppbyggnaden av CRP och CFP men de fungerar inte som verktyg som påverkar prestationsmåtten i båda kausala riktningarna. De har en egen effekt på CRP och CFP direkt vars verkan skiljer sig mellan de olika immateriella resurserna. Endast i tillväxt har studiens resultat visat på en positiv påverkan av CRP på CFP och tvärt om. Examensarbetets bidrag: Ur ett teoretiskt perspektiv bidrar studien till insikter om att immateriella resurser och satsningar på CRP är vägar att öka finansiella prestationer hos industriföretag i tillväxt. Praktiskt kan detta vara användbar kunskap för företagsledare i beslut om satsningar på immateriella resurser. Förslag till fortsatt forskning: Denna studie bygger på mätdata från en femårsperiod som sträcker sig över en tidsperiod då det råder lågkonjunktur. Studien bygger också på ett relativt litet urval som försvårar möjligheten att dra slutsatser med precision. Studien undersöker också endast fyra immateriella resurser. En studie med ett större urval under en längre tidsperiod där fler immateriella resurser tas med i beräkningsmodellen kan kasta ljus över hur de immateriella resurserna bidrar till förändringar i CRP och CFP. Nyckelord: CRP, CFP, immateriella resurser, tillväxt, positiv spiral

BAKGRUND: Företag fyller en stor roll i vårt samhälle eftersom de på många sätt är en viktig beståndsdel i att driva vårt samhälle mot vidare utveckling. För vidare hållbar utveckling krävs ansvarstagande av alla inblandade parter, men hur mycket ansvar ska företagen egentligen ta? Ska de ta ansvar för aspekter som exempelvis miljö och mänskliga rättigheter? Eller ska de endast fokusera på att vara så vinstmaximerande som möjligt? SYFTE: Syftet med denna uppsats är att undersöka sambandet mellan svenska företags rapporterade hållbarhetsredovisning och deras lönsamhet. METOD: För att kunna svara på syftet på bästa sätt valdes en kvantitativ metod med ett deduktivt synsätt. Tvärsnittsdesign valdes eftersom studien skulle undersöka sambandet mellan Corporate Social Responsibility och lönsamhet under en viss tidpunkt. Variabeln CSR operationaliseras genom användning av Folksams index för ansvarsfullt företagande och lönsamhet genom en justerad formel för Tobins Q. En regressionsanalys gjordes för att kunna undersöka korrelationen mellan CSR och lönsamhet. SLUTSATS: Sambandet mellan CSR och lönsamhet är neutralt, det vill säga statistiskt går det inte att påvisa något signifikant samband mellan CSR och lönsamhet för de studerade företagen i denna studie.

Syfte: Sambandet mellan CSR och CFP har undersökts otaliga gånger utan att forskarna kommer överens om huruvida det finns ett samband eller inte. Därmed finns också olika åsikter om vilket motiv som driver företag att investera i CSR. Tidigare forskning har fokuserat på två huvudmotiv: vinstmaximerings- samt filantropiska motiv. Vi har kunnat utröna ett möjligt tredje motiv till CSR-investeringar, nämligen att företagets information om framtida CFP motiverar investeringar i CSR. Syftet med vår studie är därmed att undersöka om framtida förväntad CFP förklarar nuvarande CSR-investeringar i företag.   Metod: Vår studie utgår från en positivistisk forskningsfilosofi med hypotetisk-deduktiv ansats. Forskningsstrategin är kvantitativ med en longitudinell forskningsdesign. Data från 890 europeiska bolag har insamlats från Thomson Reuters Datastream för åren 2008-2016. Vidare har dessa data analyserats i statistikprogrammet SPSS.   Resultat & slutsats: Resultatet visar att framtida förväntad CFP förklarar företagets nuvarande CSR-investeringar. Detta genom att den information företaget innehar om sin framtida CFP påverkar dess engagemang i CSR-aktiviteter, vilket därmed utgör det huvudsakliga motivet till företagets CSR-investeringsbeslut. Resultatet visar också att företag inte investerar i CSR av filantropiska skäl, medan en undergrupp av företag väljer att investera i CSR med vinstmaximering som motiv.   Examensarbetets bidrag: Studien bidrar till motivforskningen om CSR-investeringsbeslut genom att bevis erhållits för att ett tredje motiv finns, som hittills är outforskat. Olika intressenter har nytta av kunskapen om detta motiv eftersom studien visar att CSR-investeringar leder till att information om företagets framtida information avslöjas.   Förslag till fortsatt forskning: Fortsatta studier inom ämnet skulle förslagsvis kunna rikta in sig på mindre företag eller enskilda länder, då denna studie fokuserat på stora europeiska bolag. För att få en mer detaljerad inblick i hur ett företag tänker kring CSR-investeringar föreslår vi en fallstudie inom ämnet, med kvalitativ inriktning. / Aim: The relationship between CSR and CFP has been investigated many times without any conclusion if there is any relationship or not. Because of the lack of conclusion there are different opinions about what motive companies have when they invest in CSR. The research that has been done in the field have focused on two motives: profit maximization- and the philanthropical motive. We have identified a possible third motive to CSR-investments, namely that company’s information about future CFP motivates current investments in CSR. The aim of our study is to investigate if future expected CFP explains current CSR-investments among companies.   Method: Our study is based on a positivistic research philosophy with a hypothesis-deductive approach. The study has a quantitative strategy with a longitudinal design. We have collected data from 890 European companies during the period of 2008-2016 from Thomson Reuters Datastream. We have analyzed the data in the statistical software SPSS.   Result & Conclusions: The result of the study indicates that the future CFP explains current CSR-investments. This happens because the company’s private information regarding future CFP influences the commitment to CSR-activities, which make the information-motive the main motive to CSR-investments. The result also shows that companies do not invest in CSR for philanthropic reasons, while a subgroup of companies chooses to invest in CSR with profit maximization as a motive.   Contribution of the thesis: The study provides a contribution to the research about how different motives drive companies’ decision-making process about CSR-investments through the third identified motive, which is an unexplored field. Different stakeholders can appreciate the knowledge of this motive because of the private information the companies reveal with the CSR-investments that they do.   Suggestions for future research: We have done our study on large public European companies. Future studies in the field should aim non-public companies or specific countries. We suggest a qualitative study to get a more detailed picture about how companies reveal private information in this field.

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