Current Issue : April-June Volume : 2026 Issue Number : 2 Articles : 5 Articles
This study investigates the causal effects of mandated ESG disclosure on two key corporate financial outcomes: earnings quality and cost of capital. Using a panel dataset of 210 publicly listed firms from eight European Union countries between 2015 and 2024, the study exploits cross- country variation in the timing and intensity of ESG disclosure mandates under the EU Directive 2014/95/EU. A difference- in- differences research design is employed, supported by dynamic models and placebo tests to strengthen causal inference. The findings reveal that firms subject to mandatory ESG disclosure exhibit a statistically significant improvement in earnings quality and a reduction in the cost of capital following the implementation of the regulation. These effects are more pronounced among larger firms, suggesting that firm size moderates the ability to translate ESG transparency into financial benefits. The study recommends that regulators continue enforcing ESG mandates and that firms integrate ESG disclosure as a core element of their financial strategy. By providing rigorous evidence of financial benefits associated with mandated ESG practices, this study contributes to the literature on sustainable finance, corporate transparency, and capital market regulation....
In this study, we derive the probability density functions (PDFs) for the product and quotient of two generalized order statistics (GOS) from the exponentiated Fréchet distribution (EFD), also known as the generalized extreme value type-II distribution. Utilizing the Mellin transform and its inverse, along with the Fox H-function, we provide explicit expressions for these PDFs. We analyze special cases, including extreme GOS, consecutive GOS, and reductions to the standard Fréchet distribution. The motivation stems from the EFD's applications in modeling extreme events such as earthquakes, floods, and wind speeds, where products and quotients of order statistics are crucial for reliability analysis and stress-strength models. Our contributions include novel analytical derivations extending prior works on Weibull and Pareto distributions, enhanced by numerical simulations and real-data applications to earthquake magnitudes. These results offer insights for fields like extreme value theory, with illustrative examples demonstrating practical utility....
3D Gaussian Splatting (3DGS) achieves real-time, high-fidelity rendering through explicit Gaussian primitives and efficient rasterization techniques. However, the absence of geometric information often leads to artifacts around object edges and weakly textured regions. Although existing methods attempt to optimize geometric representation by imposing depth constraints, their efficacy remains limited due to interference from pervasive sensor noise. To address this, we propose a novel optimization framework integrating edge-aware mechanisms with depth reliability detection. Specifically, our approach employs multi-scale local depth statistics and gradient information to strategically exclude depth loss computations in ambiguous background edge regions. Simultaneously, it utilizes neighborhood depth consistency to construct a robust reliability mask that actively suppresses the influence of depth outliers. Experiments on the TUM-RGBD dataset demonstrate that our method significantly mitigates blurring and visual artifacts while improving the evaluation metrics holistically....
This study evaluates the impact of geographic source variation of Burnt Pulverized Chikoko (BPC) clay on the compressive strength characteristics of concrete Chikoko clay was sourced from Okrika (Rivers State) and Ogbia (Bayelsa State), both in the Niger Delta region of Nigeria, and processed through calcination into BPC. The material was incorporated as an admixture in concrete at varying proportions (0%, 5%, 10%, 15%, and 20%) using two mix ratios (1:1.5:3 and 1:2:4) with a constant water cement ratio of 0.5. Compressive strength was evaluated at curing ages of 7, 14, and 28 days. Results revealed distinct trends between the two sources: Okrika-sourced BPC significantly improved concrete strength, peaking at 32.89 MPa (15% admixture, 1:1.5:3 mix), while Ogbia clay showed optimal performance at lower dosages (5% - 10%) and declined thereafter. Two-way ANOVA confirmed that the clay source (p = 0.0033) and its interaction with BPC percentage (p = 0.0250) had statistically significant effects on strength development, while the BPC percentage alone was not uniformly significant (p = 0.1830). These findings emphasize that the pozzolanic performance of Chikoko clay is highly dependent on its mineralogical origin and dosage, underscoring the importance of source-specific characterization before use in structural applications. The study advocates for careful optimization of natural pozzolans based on location to ensure performance reliability in concrete production....
Background and Aims: Charcot–Marie–Tooth disease (CMT) is a hereditary neuropathy that causes progressive muscle weakness, sensory deficits, and impaired mobility, significantly affecting quality of life (QoL). The Pediatric Charcot–Marie–Tooth Quality of Life (pCMT- QoL) instrument was developed specifically for children with CMT. However, a validated Thai version is not yet available. Methods: We conducted a cross- sectional study at the Pediatric Neuromuscular Clinic from July 2023 to December 2024. Using a forward–backward translation method, we adapted the pCMT- QoL into Thai. Twenty- three children with CMT and their caregivers completed the Thai questionnaire. We evaluated internal consistency using Cronbach's alpha and test–retest reliability using intraclass correlation coefficients (ICCs). Convergent validity was examined via Pearson correlation between child selfreports and parent- proxy reports across functional, mental, and physical domains. Results: The Thai pCMT- QoL demonstrated high test–retest reliability (ICC > 0.85) and satisfactory internal consistency (Cronbach's alpha > 0.7) across most domains. Convergent validity was strong for the total and mental domains but weaker for the physical domain, reflecting differences in perception between children and parents. Parents generally reported higher QoL scores than children did, a finding consistent with studies in other neuromuscular diseases. Most participants completed the questionnaire within 15 min, suggesting good feasibility. Interpretation: The Thai pCMT- QoL is a reliable, culturally adapted tool for assessing QoL in children with CMT. It is suitable for both remote and in- clinic administration. Future studies with larger cohorts are needed to confirm its responsiveness to clinical changes and to broaden its application in diverse settings....
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