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Social venture challenges: Aligning the Business Model and with an appropriate Legal Structure
No full textThe Case Centre, case study 325-0146-1, teaching note 325-0146-
Comparative analysis of microwave and ultrasound extraction techniques for valorizing almond milk byproducts
No full textInternational audienceThis study explores the sustainable valorization of almond okara, a nutrient-rich by-product of almond milk production, through advanced green extraction technologies. Although conventional solid-liquid extraction (CSLE) has previously shown the potential of almond okara due to its high content of bioactive compounds, this research focuses on assessing and optimizing ultrasound-assisted extraction (UAE) and microwave-assisted extraction (MAE) to enhance the recovery of polyphenols and related phytochemicals. While UAE demonstrated significantly higher polyphenol yields than CSLE under comparable conditions, indicating superior extraction efficiency, MAE ultimately outperformed both methods, emerging as the most effective technique overall. Systematic optimization of MAE parameters, such as microwave power, extraction time, and solid-to-solvent ratio, resulted in significantly increased recoveries of total polyphenols (800 mg GAE/100 g dry okara), phenolic acids (770 mg CAE/100 g), tannins (670 mg GAE/100 g), and flavonoids (480 mg CE/100 g). Additionally, antioxidant activity peaked at 1280 mg AAE/100 g under optimal MAE conditions (400 W, 1:50 g/mL, 90 min). Moreover, UHPLC-UV analysis revealed a more diverse and abundant polyphenol profile in MAE extracts. These results highlight MAE as a powerful, efficient, and eco-friendly extraction method, endorsing the sustainable use of almond okara in functional foods, nutraceuticals, and cosmetics, aligned with green chemistry principles and the circular economy
Do foreign firms cater to American investors’ dividend desires ?
No full textInternational audienceWill foreign firms alter their dividend policies to cater to minority American investors’ tax preferences? Conceptually, in the context of foreign controlling shareholders making the tunneling-and-dividend decisions, foreign firms will not do so unless they value a broad American shareholder base. During a U.S. tax cut that increases American investors’ dividend desires only from qualified foreign corporations (QFCs), the dividend policies of those QFCs domiciled in low withholding tax jurisdictions exhibit a significantly stronger catering pattern than others. The conceptual framework and the empirical results jointly suggest that some foreign firms see the value of a broad American shareholder base
The shape of ray average cost and its role in multioutput scale economies: some generalizations
No full textInternational audienceEstablishing a link between the so-called ‘neoclassical’ and ‘axiomatic’ approaches to production theory, we deal with some central and unresolved issues concerning scale economies in multi-output technologies. First, we extend Panzar and Willig’s (1977) results on the duality between primal and dual scale elasticity measures, which helps pointing out the unknown role played in this regard by the monotonicity of the local degree of homogeneity of the technology. Second, under a general representation of a convex technology – allowing for non-differentiability of the cost function and multiple optima – we determine the shape of the ray average cost function. Third, in the same setting, we determine an unambiguous relationship between cost scale elasticity and cost scale efficiency, and therefore between local and global scale economies. Fourth, we develop a complete map of values taken by primal and dual scale elasticities and point out that the equality between returns to scale and scale economies local measures breaks down in a convex technology at points where the cost function is not differentiable. This highlights the importance of considering non-differentiability when analysing scale economies in production technologies
Validité et sensibilité à l'entraînement de tests d'évaluation de la condition physique
No full textInternational audienceIntroduction: Physical Fitness (PF) is a key health and performance indicator (American College of Sports Medicine, 2021). Test batteries like Diagnoform assess PF, but despite growing attention in the scientific literature (due to the 268,000 data collected), the validity and sensitivity of four Diagnoform tests remain insufficiently verified (Duclos et al., 2022; Mouraby et al., 2012). This cohort study aimed to evaluate the validity and training sensitivity of four Diagnoform tests: 3-Minute Shuttle Run (MSR), cross test, modified-plank test and modified-unipedal stance test. Methods: Sixty-five runners completed four Diagnoform tests and four reference tests recognized by the scientific literature measuring the same PF components. CardioRespiratory Fitness (CRF) was assessed with the 3-MSR and an incremental intermittent field test (45-15FIT) (Assadi & Lepers, 2012). Agility was tested with the cross and hexagon agility tests (Beekhuizen et al., 2009). Muscular Endurance (ME) was assessed with the modified plank, and sport-specific endurance plank tests, and balance with modified and standard unipedal stance tests (Springer et al., 2007; Tong et al., 2014). A bivariate correlation examined the relationships between Diagnoform and reference tests. The Wilcoxon signed-rank test compared performance changes after 8 weeks of running training. Effect Size (ES) was calculated. Results: Correlation was very high for CRF (p < 0.001, r = 0.932), moderate for agility (p < 0.001, r = 0.502), high for ME (p < 0.001, r = 0.716), and significant but low for balance (p = 0.003, r = 0.376). No statistical differences in performance changes were observed between Diagnoform tests and reference tests (p = 0.602, ES = 0.050 for CRF; p = 0.114, ES = 0.173 for agility; p = 0.913, ES = 0.012 for ME; and p = 0.492, ES = 0.074 for balance). Discussion: The very high correlation between both CRF tests might be attributed to their potential relationship with maximal aerobic speed, a well-established field criterion measure of CRF (Assadi & Lepers, 2012; Mouraby et al., 2012). For agility, the correlation observed could be explained by the characteristics as regards the scientific definition of agility, observed in both tests (e.g., quickly change direction with precision) (American College of Sports Medicine, 2021). Although both ME tests differ in their duration, the correlation between these tests is probably due to some similarities in their content (e.g., hold an isometric plank position, lift arms). The association between the balance tests might be explained by the unipedal position under similar conditions (i.e., eyes open and eyes closed) involved in both tests. Conclusions / Perspectives: These results support the validity and sensitivity of four Diagnoform tests. These field-based, inexpensive, valid, sensitive and quick-to-administer PF tests offer practical tools for sport and health professionals to monitor PF. The large number of individuals who have undergone the Diagnoform, could assist professionals in rapidly identifying the PF component level of their population compared to matched age- and sex- individuals. References American College of Sports Medicine. (2021). ACSM’s guidelines for exercise testing and prescription—Eleventh edition (19e éd.). Wolters Kluwer. Assadi, H., & Lepers, R. (2012). Comparison of the 45-second/15-second intermittent running field test and the continuous treadmill test. International Journal of Sports Physiology and Performance, 7(3), 277‑284. https://doi.org/10.1123/ijspp.7.3.277 Beekhuizen, K. S., Davis, M. D., Kolber, M. J., & Cheng, M.-S. S. (2009). Test-retest reliability and minimal detectable change of the hexagon agility test. Journal of Strength and Conditioning Research, 23(7), 2167‑2171. https://doi.org/10.1519/JSC.0b013e3181b439f0 Duclos, M., Lacomme, P., Lambert, C., Pereira, B., Ren, L., Fleury, G., Ovigneur, H., Deschamps, T., Fearnbach, N., Vanhelst, J., Toussaint, J.-F., & Thivel, D. (2022). Is physical fitness associated with the type of attended school? A cross-sectional analysis among adolescents. The Journal of Sports Medicine and Physical Fitness, 62(3), 404‑411. https://doi.org/10.23736/S0022-4707.21.12203-0 Mouraby, R., Tafflet, M., Nassif, H., Toussaint, J.-F., & Desgorces, F.-D. (2012). Fiabilité et validation de la batterie de tests physiques Diagnoform. Science & Sports, 27(1), 50‑53. https://doi.org/10.1016/j.scispo.2011.01.011 Springer, B. A., Marin, R., Cyhan, T., Roberts, H., & Gill, N. W. (2007). Normative values for the unipedal stance test with eyes open and closed. Journal of Geriatric Physical Therapy (2001), 30(1), 8‑15. https://doi.org/10.1519/00139143-200704000-00003 Tong, T. K., Wu, S., & Nie, J. (2014). Sport-specific endurance plank test for evaluation of global core muscle function. Physical Therapy in Sport, 15(1), 58‑63. https://doi.org/10.1016/j.ptsp.2013.03.00
Extraction assistée par ultrasons des antioxydants phénoliques à partir du coproduit marc de cassis
No full textIn the context of climate change and the transition to a circular economy, a potential valorization of an agri-food by-product (blackcurrant pomace) was studied. Ultrasound-Assisted Extraction (UAE) was selected as a green process for recovering antioxidant polyphenols and anthocyanins. It was studied firstly at laboratory scale on batch mode, then on recycling mode, permitting to treat higher quantities of by-product. On batch mode, the study used a multi-criteria optimization model expressing simultaneously the extraction yields, the antioxidant activity of the extracts, the energy consumption and the environmental impacts of the process as functions of the varied operating parameters (extraction time, solvent/by-product ratio, ethanol content in the solvent and ultrasound power). This original tool combines kinetic equations to the methods of experimental design and Life cycle assessment. A process organisation for semi-pilot extractions in recycling mode was performed to assess process scalability. This innovative approach enabled to treat 10 times larger volumes with approximately 2.5 times lower energy consumption per mass of extracted antioxidants, demonstrating the potential for scale-up of the UAE process. The ultrasound assistance increased highly the extraction yields and enabled to reduce the process duration, the energy consumption and the environmental impacts. This work offers a methodological framework applicable to other agri-food by-products and green extraction processes and allows the integration of energy consumption and environmental performance criteria early in the process design.Dans le contexte du changement climatique et de la transition vers une économie circulaire, une valorisation potentielle d'un coproduit agroalimentaire (le marc de cassis) a été étudiée. L'extraction assistée par ultrasons (EAUS) a été sélectionnée comme éco-procédé pour la récupération de polyphénols et d'anthocyanines antioxydants. Elle a été étudiée d'abord à l'échelle laboratoire en mode batch, puis en mode de recirculation permettant de traiter des quantités plus importantes de coproduit. En mode batch, l'étude a utilisé un modèle d'optimisation multi-critères exprimant simultanément les rendements d'extraction, l'activité antioxydante des extraits, la consommation d'énergie et les impacts environnementaux du procédé en fonction de différents paramètres opératoires (temps d'extraction, ratio solvant/coproduit, teneur en éthanol dans le solvant et puissance des ultrasons). Cet outil original combine des équations cinétiques aux méthodologies du plans d'expériences et d'Analyse du cycle de vie. Une organisation du procédé en mode de recirculation à l'échelle semi-pilote a été réalisée afin d'évaluer la montée en échelle du procédé. Cette organisation du procédé a permis de traiter des volumes 10 fois plus importants avec 2,5 fois moins d'énergie par masse d'antioxydants extraits, démontrant ainsi le potentiel de mise à échelle du procédé EAUS. L'assistance des ultrasons a fortement augmenté les rendements d'extraction et permis de réduire la durée du procédé, la consommation d'énergie et les impacts environnementaux. Ces travaux offrent une méthodologie applicable à d'autres coproduits agroalimentaires et à l'utilisation d'autres éco-procédés d'extraction, et permettent d'intégrer les critères de la consommation d'énergie et de la performance environnementale dès la conception du procédé
Toward Holistic Stakeholder Engagement: Integrating Participation, Inclusion, and Democracy
No full textInternational audienceResearch on the manifestations and hurdles of stakeholder engagement remains scant and fragmented. In this introduction to the Special Issue on stakeholder engagement, we conceptualize the concept through three related modes: participation, inclusion, and democracy. Each mode reflects different aspects of stakeholder engagement, generating benefits for both organizations and their stakeholders. Yet, each mode also faces challenges. We propose an integrative framework that unifies these modes of stakeholder engagement, emphasizing areas of synergy and potential conflict. The article concludes by advancing directions for future business and society research on stakeholder engagement
A SAT-based Method for Counting All Singleton Attractors in Boolean Networks
No full textInternational audienceBoolean networks (BNs) are widely used to model biological regulatory networks. Attractors here hold significant meaning as they represent long-term behaviors such as homeostasis and the results of cell differentiation. As such, computing attractors is of critical importance to guarantee the validity of a model or to assess its stability and robustness. However, this problem is quite challenging when it comes to large real-world models. To overcome the limits of state-of-the-art BDD-based or ASP-based enumeration approaches, we introduce a SAT-based approach to compute fixed points (singleton attractors) of BN and exhibit its merits for counting the number of singleton attractors of large-scale benchmarks well established in the literature
Exploring the links between energy poverty and international migration: Evidence from developing countries
No full textInternational audienceThe determinants of international migration are well developed in the literature. But we know very little about the effects of energy poverty (EP) on it. This article aims to fill this gap. Starting with a sample of 102 developing countries observed over the period 2000 to 2022, we specify a model estimated by the econometric methods of Driscoll, Lewbel, Kinky Least Square and S-GMM. Our results show that energy poverty, captured by access to electricity (Elec) and clean fuels (Clean), has a positive and significant effect on migration flows. Our results remain robust to various tests and suggest public policies aimed at promoting renewable and decentralized energy infrastructures