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13 pages, 658 KiB  
Article
Optimizing Sulfur Fertilization for Yield and Aroma Enhancement in Fragrant Rice Under Varying Soil Sulfur Conditions
by Sirilak Chaiboontha, Chananath Chanauksorn, Choochad Santasup, Fapailin Chaiwan and Chanakan Prom-u-thai
Agronomy 2025, 15(7), 1569; https://doi.org/10.3390/agronomy15071569 - 27 Jun 2025
Viewed by 689
Abstract
Sulfur (S) fertilizer is routinely applied together with other macronutrients by farmers across all regions to improve grain yield and quality, but its distinct effects on grain yield and aroma intensity in fragrant rice remain inadequately studied, especially when applied under varying existing [...] Read more.
Sulfur (S) fertilizer is routinely applied together with other macronutrients by farmers across all regions to improve grain yield and quality, but its distinct effects on grain yield and aroma intensity in fragrant rice remain inadequately studied, especially when applied under varying existing soil S levels. This study aimed to determine the effects of S fertilizer application on grain yield and aroma intensity (2-Acetyl-1-Pyrroline, 2AP) in fragrant rice grown under varying soil S levels (very low, low, and medium). The premium Thai fragrant rice cultivar KDML105 was grown under field conditions during two cropping seasons in 2021 and 2022 in Surin province, northeastern Thailand. Sulfur fertilizer in the form of (NH4)2SO4 was applied at 0, 30, 60, 90, and 120 kg S ha−1 at one time with the basal fertilizers phosphorus (P) and potassium (K) under varying soil S levels, using the same protocol in both cropping seasons. Plant growth parameters were evaluated at the tillering stage, and grain samples were harvested at maturity to evaluate grain yield and aroma intensity. The results showed that applying S at rates between 60 and 90 kg ha−1 to soils with very low and low S increased grain yield from 4 to 20% compared to no S application, while no effect of S application was observed for the medium soil S level. The results were primarily attributed to the number of tillers and panicles per hill and the 1000-grain weight in both cropping seasons. Dissimilar effects of S application rates and soil S level were found for grain 2AP content. There was a higher grain 2AP content in the low and medium soil S levels compared to very low S, but the pattern varied according to the S application rate. Applying the appropriate rate of S fertilizer can significantly improve rice productivity, especially when cultivated under S-deficient soil, and higher soil S levels can promote the grain 2AP content of fragrant rice. Full article
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20 pages, 4009 KiB  
Article
Comparative Analysis of Nutritional, Textural, and Sensory Attributes of Butter Crab and Normal Female Mud Crab (Scylla paramamosain): Insights for Market Positioning and Consumer Preference
by Baojia Chen, Mingfei Feng, Kang Fang, Kun Wu, Hai Yang, Shaojian Chen, Haoji Guo, Shuangli Hao and Xiaobo Wen
Foods 2025, 14(12), 2101; https://doi.org/10.3390/foods14122101 - 15 Jun 2025
Viewed by 488
Abstract
In recent years, the butter crab (BC), a distinctive phenotypic variant of the female mud crab Scylla paramamosain, has garnered increasing market attention due to its perceived superior nutritional and sensory attributes. This study conducted a comprehensive comparative analysis of the nutritional [...] Read more.
In recent years, the butter crab (BC), a distinctive phenotypic variant of the female mud crab Scylla paramamosain, has garnered increasing market attention due to its perceived superior nutritional and sensory attributes. This study conducted a comprehensive comparative analysis of the nutritional composition, textural properties, and sensory characteristics of BC and normal female mud crab (NFMC). Results showed that the muscle and hepatopancreas of BC contained significantly higher lipid contents (0.77 and 22.14 g/100 g wet weight) and elevated levels of DHA + EPA (18.36% and 12.86% of total fatty acids), which contributed to its characteristic orange–yellow coloration, as reflected by colorimetric values (L* × a* × b* = 30.20 × 4.38 × 16.15). Sensory evaluation revealed that BC exhibited enhanced umami taste and aroma in both muscle and hepatopancreas, corresponding to higher concentrations of umami amino acids (0.75 and 1.95 mg/g wet weight) and aldehydes (35.06% and 34.37% of total volatiles), respectively. In addition, 80% of panelists preferred BC based on visual appearance, indicating its strong consumer appeal. Overall, this study advances our understanding of the biochemical and sensory profiles of BC and NFMC and provides important insights for market positioning of BC in the premium seafood sector. Full article
(This article belongs to the Section Food Nutrition)
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19 pages, 9597 KiB  
Article
Genomic Analysis Reveals the Fast-Growing Trait and Improvement Potential for Stress Resistance in the Elite Poplar Variety Populus × euramericana ‘Bofeng 3’
by Shanchen Zhong, Weixi Zhang, Changjun Ding, Zhengsai Yuan, Le Shen, Bingyu Zhang, Yanguang Chu and Xiaohua Su
Int. J. Mol. Sci. 2025, 26(12), 5526; https://doi.org/10.3390/ijms26125526 - 9 Jun 2025
Viewed by 405
Abstract
Enhancing stress tolerance represents a critical objective in the genetic improvement of poplar trees. Populus × euramericana ‘Bofeng 3’ is a nationally certified elite poplar variety that was approved as a premium pulpwood variety for the southern area of Northeastern China. This variety [...] Read more.
Enhancing stress tolerance represents a critical objective in the genetic improvement of poplar trees. Populus × euramericana ‘Bofeng 3’ is a nationally certified elite poplar variety that was approved as a premium pulpwood variety for the southern area of Northeastern China. This variety grows quickly, has good yield, and resists frost; however, its weaker drought and salt tolerance limits its broader use in diverse environments. The aim of this study is to understand the genetic basis of the fast growth and stress-adaptation traits of this variety and to provide support for future molecular breeding efforts. We present a chromosome-scale genome assembly of Populus × euramericana ‘Bofeng 3’, totaling 445.53 Mb, of which with 90.39% is anchored to 19 chromosomes, containing 33,309 protein-coding genes and 45.36% repetitive elements. Comparative genomics showed that ‘Bofeng 3’ has expanded gene families related to photosynthesis and metabolism, and contracted families involved in stress responses, distinguishing it from other Populus species. Under drought (9137 leaf, 9403 root differentially expressed genes (DEGs)) and salt stress (2840 leaf, 3807 root DEGs), trend analysis revealed specific expression patterns. Several unique and expanded genes, including those for photosynthetic proteins, peroxidases, gamma-aminobutyric acid metabolism, and disease resistance, showed stress-responsive trends. Weighted gene co-expression network analysis identified five modules (three positive, two negative) that significantly correlated with photosynthetic traits, highlighting key candidates such as bZIP transcription factors and auxin/indole acetic acid genes. This study determined the genetic basis underlying the rapid growth traits of Populus × euramericana ‘Bofeng 3’, while providing genomic resources to establish a robust foundation for future gene editing and molecular breeding studies, including critical candidate genetic resources for developing superior drought- and salt-tolerant poplar varieties via targeted genome editing technologies. Full article
(This article belongs to the Section Molecular Plant Sciences)
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27 pages, 1136 KiB  
Article
Circular Pathways to Sustainability: Asymmetric Impacts of the Circular Economy on the EU’s Capacity Load Factor
by Brahim Bergougui
Land 2025, 14(6), 1216; https://doi.org/10.3390/land14061216 - 5 Jun 2025
Cited by 2 | Viewed by 554
Abstract
Amid escalating environmental crises—ranging from biodiversity loss to climate instability—the circular economy has emerged as a promising pathway to align economic growth with ecological limits. The objective of this study is to examine the asymmetric impact of a novel composite circular economy index [...] Read more.
Amid escalating environmental crises—ranging from biodiversity loss to climate instability—the circular economy has emerged as a promising pathway to align economic growth with ecological limits. The objective of this study is to examine the asymmetric impact of a novel composite circular economy index (CEI)—constructed via entropy weighting—on the load capacity factor (LCF), a holistic sustainability metric, across 27 EU member states over 2010–2023. Employing the method of moments quantile regression (MMQR) and controlling for GDP, foreign direct investment, trade openness, employment, and population growth, the main findings indicate pronounced heterogeneity: positive CEI shocks yield a 1.219 percent increase in LCF at the 90th quantile versus just 0.229 percent at the 10th, revealing a “sustainability premium” for high-performing economies, while negative shocks inflict a −5.253 percent decline at the 90th quantile, exposing their greater vulnerability. Low-LCF countries, by contrast, display relative resilience to downturns, likely due to less entrenched circular systems. Panel Granger causality tests further reveal bidirectional feedback loops between LCF and economic growth, investment, and labor markets, alongside a unidirectional effect from trade openness to enhanced sustainability. These insights carry clear policy implications: high-LCF nations require safeguards against circularity backsliding, whereas low-LCF members need capacity-building to convert latent resilience into sustained gains—together forming a nuanced blueprint for achieving the EU’s 2050 climate-neutrality ambitions. Full article
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18 pages, 3819 KiB  
Article
Melatonin Promotes Muscle Growth and Redirects Fat Deposition in Cashmere Goats via Gut Microbiota Modulation and Enhanced Antioxidant Capacity
by Di Han, Zibin Zheng, Zhenyu Su, Xianliu Wang, Shiwei Ding, Chunyan Wang, Liwen He and Wei Zhang
Antioxidants 2025, 14(6), 645; https://doi.org/10.3390/antiox14060645 - 27 May 2025
Viewed by 638
Abstract
Liaoning cashmere goats is a dual-purpose breed valued for premium cashmere fiber and meat yields, and there is currently a lack of optimized strategies for meat quality, including skeletal muscle development and lipid partitioning. This investigation systematically examines how melatonin administration modulates gastrointestinal [...] Read more.
Liaoning cashmere goats is a dual-purpose breed valued for premium cashmere fiber and meat yields, and there is currently a lack of optimized strategies for meat quality, including skeletal muscle development and lipid partitioning. This investigation systematically examines how melatonin administration modulates gastrointestinal microbiota and antioxidant capacity to concurrently enhance skeletal muscle hypertrophy and redirect lipid deposition patterns, ultimately improving meat quality and carcass traits in Liaoning cashmere goats. Thirty female half-sibling kids were randomized into control and melatonin-treated groups (2 mg/kg live weight with subcutaneous implants). Postmortem analyses at 8 months assessed carcass traits, meat quality, muscle histology, plasma metabolites, and gut microbiota (16S rRNA sequencing). Melatonin supplementation decreased visceral adiposity (perirenal, omental, and mesenteric fat depots with a p < 0.05) while inducing muscle fiber hypertrophy (longissimus thoracis et lumborum (LTL) and biceps femoris (BF) with p < 0.05). The melatonin-treated group demonstrated elevated postmortem pH24h values, attenuated muscle drip loss, enhanced intramuscular protein deposition, and improved systemic antioxidant status (characterized by increased catalase and glutathione levels with concomitant reduction in malondialdehyde with p < 0.05). Melatonin reshaped gut microbiota, increasing α-diversity (p < 0.05) and enriching beneficial genera (Prevotella, Romboutsia, and Akkermansia), while suppressing lipogenic Desulfovibrio populations, and concomitant with improved intestinal morphology as evidenced by elevated villus height-to-crypt depth ratios. These findings establish that melatonin-mediated gastrointestinal microbiota remodeling drives anabolic muscle protein synthesis while optimizing fat deposition, providing a scientifically grounded strategy to enhance meat quality. Full article
(This article belongs to the Special Issue Oxidative Stress in Livestock and Poultry—3rd Edition)
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20 pages, 5360 KiB  
Article
The Transcriptome Analysis Provides New Insights into Signaling for Bamboo Shoot Development of Sympodial Bamboo
by Shunkai Hu, Mengran Dong and Qirong Guo
Foods 2025, 14(9), 1647; https://doi.org/10.3390/foods14091647 - 7 May 2025
Viewed by 519
Abstract
Bamboo is a member of the Poaceae family and serves as an important economic resource with various applications, including reforestation, food production, and environmental conservation, due to its rapid growth and renewable nature. Among its various uses, bamboo shoots stand out for their [...] Read more.
Bamboo is a member of the Poaceae family and serves as an important economic resource with various applications, including reforestation, food production, and environmental conservation, due to its rapid growth and renewable nature. Among its various uses, bamboo shoots stand out for their tender texture and delicate flavor, making them a highly sought-after culinary delicacy in many cultures and a key ingredient in global food industries. Despite extensive research on the development of monopodial bamboos, studies focused on the developmental processes of sympodial bamboos, especially regarding their culinary potential, remain limited. This study conducted a comprehensive transcriptomic analysis of sympodial bamboo (Bambusa sp.) across six developmental stages (S1–S6) to uncover the molecular regulatory networks governing early bamboo shoot development. The results revealed that 1603 common differentially expressed genes (DEGs) across S1–S6 were enriched in multiple key pathways, with the most significant being plant hormone signaling, MAPK signaling, and Glycolysis/Gluconeogenesis pathways. Co-expression clustering analysis indicated that the Glycolysis/Gluconeogenesis pathway plays a crucial role during the later stages of bamboo shoot development (S5–S6), impacting its texture and flavor—two critical factors determining its culinary quality. Further Weighted Gene Co-expression Network Analysis (WGCNA) highlighted the significant role of the MAPK signaling pathway during early bamboo shoot development and identified key hub genes (MKK, MPK, MEKK) within this pathway, emphasizing their importance in cell division and hormonal coordination. This study provides valuable insights into the molecular mechanisms underlying the rapid growth and exceptional flavor of bamboo shoots and lays the foundation for the genetic improvement of bamboo as a sustainable and nutritious food source, enhancing its value as a premium food ingredient in the global market. Full article
(This article belongs to the Section Foodomics)
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40 pages, 794 KiB  
Article
An Automated Decision Support System for Portfolio Allocation Based on Mutual Information and Financial Criteria
by Massimiliano Kaucic, Renato Pelessoni and Filippo Piccotto
Entropy 2025, 27(5), 480; https://doi.org/10.3390/e27050480 - 29 Apr 2025
Viewed by 605
Abstract
This paper introduces a two-phase decision support system based on information theory and financial practices to assist investors in solving cardinality-constrained portfolio optimization problems. Firstly, the approach employs a stock-picking procedure based on an interactive multi-criteria decision-making method (the so-called TODIM method). More [...] Read more.
This paper introduces a two-phase decision support system based on information theory and financial practices to assist investors in solving cardinality-constrained portfolio optimization problems. Firstly, the approach employs a stock-picking procedure based on an interactive multi-criteria decision-making method (the so-called TODIM method). More precisely, the best-performing assets from the investable universe are identified using three financial criteria. The first criterion is based on mutual information, and it is employed to capture the microstructure of the stock market. The second one is the momentum, and the third is the upside-to-downside beta ratio. To calculate the preference weights used in the chosen multi-criteria decision-making procedure, two methods are compared, namely equal and entropy weighting. In the second stage, this work considers a portfolio optimization model where the objective function is a modified version of the Sharpe ratio, consistent with the choices of a rational agent even when faced with negative risk premiums. Additionally, the portfolio design incorporates a set of bound, budget, and cardinality constraints, together with a set of risk budgeting restrictions. To solve the resulting non-smooth programming problem with non-convex constraints, this paper proposes a variant of the distance-based parameter adaptation for success-history-based differential evolution with double crossover (DISH-XX) algorithm equipped with a hybrid constraint-handling approach. Numerical experiments on the US and European stock markets over the past ten years are conducted, and the results show that the flexibility of the proposed portfolio model allows the better control of losses, particularly during market downturns, thereby providing superior or at least comparable ex post performance with respect to several benchmark investment strategies. Full article
(This article belongs to the Special Issue Entropy, Econophysics, and Complexity)
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17 pages, 2958 KiB  
Article
Pomegranate Peel as a Sustainable Additive for Baijiu Fermentation: Physicochemical and Flavor Analysis with Process Optimization
by Longwen Wang, Guida Zhu, Na Li, Zhiheng Wang, Yi Ji, Chen Shen, Jing Yu and Ping Song
Molecules 2025, 30(8), 1800; https://doi.org/10.3390/molecules30081800 - 17 Apr 2025
Viewed by 870
Abstract
Rice hulls, a traditional ingredient in Chinese light-flavor Baijiu, contribute to bran and furfural flavors but may adversely affect the aroma and taste. This study explores fresh pomegranate peel as a sustainable alternative to rice hulls in Baijiu fermentation. The flavor profiles in [...] Read more.
Rice hulls, a traditional ingredient in Chinese light-flavor Baijiu, contribute to bran and furfural flavors but may adversely affect the aroma and taste. This study explores fresh pomegranate peel as a sustainable alternative to rice hulls in Baijiu fermentation. The flavor profiles in jiupei and Baijiu were interpreted by employing head-space solid-phase microextraction coupled with gas chromatography–mass spectrometry (HS-SPME-GC-MS), while their physicochemical characteristics were systematically assessed. Statistical evaluations, such as correlation analysis and cluster analysis, were conducted to interpret the data. The results showed that compared with rice hull, pomegranate peel reduced furfural content in jiupei by 90%, increased the alcohol distillation rate (alcohol distillation rate: this refers to the weight percentage of 50% alcohol by volume (ABV) Baijiu produced from a unit amount of raw material under standard atmospheric pressure at 20 °C (also known as Baijiu yield)) by 30%, enhanced antioxidant capacity by 24.38%, and improved starch efficiency by 3%. Notably, the Baijiu complied with the premium Baijiu standards specified in the Chinese National Standard for light-flavor Baijiu. Additionally, under the experimental conditions of this study, the optimal Baijiu yield (optimal Baijiu yield: the maximum achievable Baijiu production under defined constraints (e.g., energy input, time, cost)) (48% ± 3.41%) correlated with the pomegranate peel particle size. This research highlights the viability of using pomegranate peel as a sustainable and environmentally friendly adjunct in the fermentation of light-flavor Baijiu, offering valuable perspectives for exploring alternative brewing ingredients. Full article
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16 pages, 283 KiB  
Article
Weight-Adjusted Waist Index as a New Useful Tool for Assessing Body Composition and Risk of Metabolic Disorders in Adult Women
by Martina Gažarová, Laura Hačková, Zoia Sharlovych, Petra Lenártová, Mária Kijovská, Jana Pastrnáková and Tetiana Kutiuhova
Appl. Sci. 2025, 15(3), 1335; https://doi.org/10.3390/app15031335 - 27 Jan 2025
Cited by 3 | Viewed by 1689
Abstract
(1) Background: Commonly used anthropometric indices have limitations that discriminate their relevance. The subject of this research was to evaluate the health risks associated with body composition using the new weight-adjusted waist index (WWI). (2) Materials and Methods: The research group consisted of [...] Read more.
(1) Background: Commonly used anthropometric indices have limitations that discriminate their relevance. The subject of this research was to evaluate the health risks associated with body composition using the new weight-adjusted waist index (WWI). (2) Materials and Methods: The research group consisted of two hundred and thirty-nine Caucasian women. Body composition was analyzed by the MF-BIA method using InBody 970. The WWI was calculated as waist circumference divided by the square root of weight. Biochemical parameters (lipid profile, glucose, hs-CRP and uric acid) were analyzed using a Biolis 24i Premium biochemical analyser. One-factor variance analysis, a post-hoc test, Pearson correlation analysis and WWI quartiles were used for the statistical evaluation. (3) Results: The results showed significant differences between WWI quartiles. Compared to the lowest quartile, participants in the highest quartile groups had the highest values of body weight (58.49 vs. 87.17 kg; p < 0.001), waist circumference (WC) (76.47 vs. 109.45 cm; p < 0.001), body mass index (BMI) (20.65 vs. 32.06 kg/m2; p < 0.001), waist-to-hip ratio (WHR) (0.84 vs. 1.03; p < 0.001), waist-to-height ratio (WHtR) (0.46 vs. 0.66; p < 0.001), fat-free mass (FFM) (44.97 vs. 49.12 kg; p < 0.001), fat mass (FM) (13.52 vs. 38.05 kg; p < 0.001) and visceral fat area (VFA) (56.94 vs. 150.62 cm2; p < 0.001), confirming a higher risk of obesity. The women in the highest quartile had significantly higher values of total cholesterol (TC), triglycerides (TG), glucose (GLU), uric acid (UA), high-sensitivity C-reactive protein (hs-CRP) and systolic and diastolic blood pressure (BP). The correlations showed a strong positive relationship of the WWI with WC (r = 0.924), VFA (r = 0.907) and FM (r = 0.901) and a strong negative relationship with %FFM (r = −0.9) and %SMM (skeletal muscle mass) (r = −0.887). The correlation analysis also confirmed a strong positive association with WHR (r = 0.964), WHtR (r = 0.944), FMI (r = 0.902) and BMI (r = 0.863). (4) Conclusions: Our results confirmed that the WWI is a useful tool for assessing fat and muscle components, as well as for assessing health risks. Full article
(This article belongs to the Special Issue Novel Anthropometric Techniques for Health and Nutrition Assessment)
13 pages, 1430 KiB  
Article
Sustainability Certifications in Real Estate: Value and Perception
by António Marques, João Fragoso Januário and Carlos Oliveira Cruz
Buildings 2024, 14(12), 3823; https://doi.org/10.3390/buildings14123823 - 28 Nov 2024
Cited by 2 | Viewed by 3250
Abstract
This study examines the influence of sustainability certifications on the real estate market, particularly highlighting the advantages they offer compared to uncertified buildings and their recognition within the industry. A survey targeting various industry professionals garnered ninety responses, predominantly from the real estate [...] Read more.
This study examines the influence of sustainability certifications on the real estate market, particularly highlighting the advantages they offer compared to uncertified buildings and their recognition within the industry. A survey targeting various industry professionals garnered ninety responses, predominantly from the real estate sector. The survey explored the respondents’ awareness and perceived benefits of sustainability certifications, their priority areas within sustainability, and the relevance of these certifications across different real estate sectors. The analysis also compared the additional costs and operational savings of certified versus uncertified buildings. Among the certifications, LEED and BREEAM were the most recognized. The primary benefits associated with these certifications included enhanced corporate image, improved health and well-being, increased building value, and higher rental yields. We estimated a valuation and rent premium for certified buildings, noting that these premiums were more pronounced among respondents who were younger, had less professional experience, and were from the property sector. The office market was identified as the segment placing the highest importance on sustainability certifications. Additionally, the LiderA evaluation system’s weighting closely aligned with the respondents’ sustainability priorities. This study concludes that while sustainability certifications incur a cost premium, this is outweighed by the appreciation in building value, rental advantages, and operational cost savings. Full article
(This article belongs to the Collection Sustainable Buildings in the Built Environment)
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16 pages, 947 KiB  
Article
The Impact of Rebalancing Strategies on ETF Portfolio Performance
by Attila Bányai, Tibor Tatay, Gergő Thalmeiner and László Pataki
J. Risk Financial Manag. 2024, 17(12), 533; https://doi.org/10.3390/jrfm17120533 - 24 Nov 2024
Viewed by 7208
Abstract
This research explores the efficacy of rebalancing strategies in a diversified portfolio constructed exclusively with exchange-traded funds (ETFs). We selected five ETF types: short-term U.S. Treasury bonds, U.S. equities, global commodities, U.S. real estate investment trusts (REITs), and a multi-strategy hedge fund. Using [...] Read more.
This research explores the efficacy of rebalancing strategies in a diversified portfolio constructed exclusively with exchange-traded funds (ETFs). We selected five ETF types: short-term U.S. Treasury bonds, U.S. equities, global commodities, U.S. real estate investment trusts (REITs), and a multi-strategy hedge fund. Using a 10-year historical period, we applied a unique simulation model to generate random portfolios with varying asset weights and rebalancing tolerance bands, assessing the impact of rebalancing premiums on portfolio performance. Our study reveals a significant positive correlation (r = 0.6492, p < 0.001) between rebalancing-weighted returns and the Sharpe ratio, indicating that effective rebalancing enhances risk-adjusted returns. Support vector regression (SVR) analysis shows that rebalancing premiums have diverse effects. Specifically, equities and commodities benefit from rebalancing with improved risk-adjusted returns, while bonds and REITs demonstrate a negative relationship, suggesting that rebalancing might be less effective or even detrimental for these assets. Our findings also indicate that negative portfolio rebalancing returns combined with positive rebalancing-weighted returns yield the highest average Sharpe ratio of 0.4328, highlighting a distinct and reciprocal relationship between rebalancing effects at the asset and portfolio levels. This research highlights that while rebalancing can enhance portfolio performance, its effectiveness varies by asset class and market conditions. Full article
(This article belongs to the Special Issue Financial Funds, Risk and Investment Strategies)
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14 pages, 3385 KiB  
Article
Tea Bud Detection Model in a Real Picking Environment Based on an Improved YOLOv5
by Hongfei Li, Min Kong and Yun Shi
Biomimetics 2024, 9(11), 692; https://doi.org/10.3390/biomimetics9110692 - 13 Nov 2024
Cited by 3 | Viewed by 1506
Abstract
The detection of tea bud targets is the foundation of automated picking of premium tea. This article proposes a high-performance tea bud detection model to address issues such as complex environments, small target tea buds, and blurry device focus in tea bud detection. [...] Read more.
The detection of tea bud targets is the foundation of automated picking of premium tea. This article proposes a high-performance tea bud detection model to address issues such as complex environments, small target tea buds, and blurry device focus in tea bud detection. During the spring tea-picking stage, we collect tea bud images from mountainous tea gardens and annotate them. YOLOv5 tea is an improvement based on YOLOv5, which uses the efficient Simplified Spatial Pyramid Pooling Fast (SimSPPF) in the backbone for easy deployment on tea bud-picking equipment. The neck network adopts the Bidirectional Feature Pyramid Network (BiFPN) structure. It fully integrates deep and shallow feature information, achieving the effect of fusing features at different scales and improving the detection accuracy of focused fuzzy tea buds. It replaces the independent CBS convolution module in traditional neck networks with Omni-Dimensional Dynamic Convolution (ODConv), processing different weights from spatial size, input channel, output channel, and convolution kernel to improve the detection of small targets and occluded tea buds. The experimental results show that the improved model has improved precision, recall, and mean average precision by 4.4%, 2.3%, and 3.2%, respectively, compared to the initial model, and the inference speed of the model has also been improved. This study has theoretical and practical significance for tea bud harvesting in complex environments. Full article
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21 pages, 3914 KiB  
Article
Asset Returns: Reimagining Generative ESG Indexes and Market Interconnectedness
by Gordon Dash, Nina Kajiji and Bruno G. Kamdem
J. Risk Financial Manag. 2024, 17(10), 463; https://doi.org/10.3390/jrfm17100463 - 13 Oct 2024
Viewed by 2268
Abstract
Financial economists have long studied factors related to risk premiums, pricing biases, and diversification impediments. This study examines the relationship between a firm’s commitment to environmental, social, and governance principles (ESGs) and asset market returns. We incorporate an algorithmic protocol to identify three [...] Read more.
Financial economists have long studied factors related to risk premiums, pricing biases, and diversification impediments. This study examines the relationship between a firm’s commitment to environmental, social, and governance principles (ESGs) and asset market returns. We incorporate an algorithmic protocol to identify three nonobservable but pervasive E, S, and G time-series factors to meet the study’s objectives. The novel factors were tested for information content by constructing a six-factor Fama and French model following the imposition of the isolation and disentanglement algorithm. Realizing that nonlinear relationships characterize models incorporating both observable and nonobservable factors, the Fama and French model statement was estimated using an enhanced shallow-learning neural network. Finally, as a post hoc measure, we integrated explainable AI (XAI) to simplify the machine learning outputs. Our study extends the literature on the disentanglement of investment factors across two dimensions. We first identify new time-series-based E, S, and G factors. Second, we demonstrate how machine learning can be used to model asset returns, considering the complex interconnectedness of sustainability factors. Our approach is further supported by comparing neural-network-estimated E, S, and G weights with London Stock Exchange ESG ratings. Full article
(This article belongs to the Special Issue Business, Finance, and Economic Development)
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19 pages, 1004 KiB  
Article
Cost of Capital in the Energy Sector, in Emerging Markets, the Case of a Dollarized Economy
by Victor Aguilar, Freddy Naula and Fanny Cabrera
Energies 2024, 17(19), 4782; https://doi.org/10.3390/en17194782 - 25 Sep 2024
Cited by 1 | Viewed by 2708
Abstract
This article estimates the weighted average cost of capital (WACC) for the energy sector in Ecuador, a country with a dollarized economy and illiquid stock markets. Thus, reference companies in the region were taken, and at the same time combined with characteristics of [...] Read more.
This article estimates the weighted average cost of capital (WACC) for the energy sector in Ecuador, a country with a dollarized economy and illiquid stock markets. Thus, reference companies in the region were taken, and at the same time combined with characteristics of national companies, establishing a useful methodology, which makes sense with the acceptable discount rates in the Ecuadorian economy. For the above, four estimation alternatives were used. In method one, the traditional WACC formula was applied using interest rates and risk premiums from the U.S. market, which resulted in an overestimation due to the double penalty of the country risk and the U.S. market premium. Method two adjusted the market risk premium to consider only the Ecuador-specific risk premium, thus avoiding the double penalty. In method three, the credit default swap (CDS) was used to calculate the country risk premium, and the CDS was excluded from the nominal interest rate, avoiding redundancies. Finally, method four combined the U.S. interest rate with the CDS directly to calculate the market risk premium, more accurately reflecting local economic conditions in a dollarized economy. The WACC results range from 12.63% to 29.70%. In addition, a dummy variable was controlled for during the pandemic period. This article highlights the need for methodologies adapted to emerging markets, since traditional approaches would overestimate the WACC. Full article
(This article belongs to the Topic Energy Market and Energy Finance)
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34 pages, 8298 KiB  
Article
Virtual Plug-In Hybrid Concept Development and Optimization under Real-World Boundary Conditions
by Jannik Kexel, Jonas Müller, Ferris Herkenrath, Philipp Hermsen, Marco Günther and Stefan Pischinger
Vehicles 2024, 6(3), 1216-1248; https://doi.org/10.3390/vehicles6030058 - 15 Jul 2024
Cited by 2 | Viewed by 1999
Abstract
The automotive industry faces development challenges due to emerging technologies, regulatory demands, societal trends, and evolving customer mobility needs. These factors contribute to a wide range of vehicle variants and increasingly complex powertrains. The layout of a vehicle is usually based on standardized [...] Read more.
The automotive industry faces development challenges due to emerging technologies, regulatory demands, societal trends, and evolving customer mobility needs. These factors contribute to a wide range of vehicle variants and increasingly complex powertrains. The layout of a vehicle is usually based on standardized driving cycles such as WLTC, gradeability, acceleration test cases, and many more. In real-world driving cycles, however, this can lead to limitations under certain boundary conditions. To ensure that all customer requirements are met, vehicle testing is conducted under extreme environmental conditions, e.g., in Sweden or Spain. One way to reduce the development time while ensuring high product quality and cost-effectiveness is to use model-based methods for the comprehensive design of powertrains. This study presents a layout methodology using a top-down approach. Initially, powertrain-relevant requirements for an exemplary target customer are translated into a specification sheet with specific test cases. An overall vehicle model with detailed thermal sub-models is developed to evaluate the different requirements. A baseline design for a C-segment plug-in hybrid vehicle was developed as part of the FVV research project HyFlex-ICE using standardized test cases, highlighting the influence of customer profiles on the design outcome through varying weighting factors. The target customer’s design is analyzed in four real driving scenarios, considering variations in parameters such as the ambient temperature, traffic, driver type, trailer pulling, and battery state-of-charge, to assess their influence on the target variables. In the next step, the potential of hardware technologies and predictive driving functions is examined in selected driving scenarios based on the identified constraints of the baseline design. As a result, four application-specific technology packages (Cost neutral, Cold country, Hot country, and Premium) for different customer requirements and sales markets are defined, which, finally, demonstrates the applicability of the holistic methodology. Full article
(This article belongs to the Special Issue Vehicle Design Processes, 2nd Edition)
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