ARTICLE | doi:10.20944/preprints202011.0473.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: Poverty; Education; Economic Policy; Social Welfare; Investment
Online: 18 November 2020 (12:04:00 CET)
Underpinned by the research works on private returns on education in developing nations that have found a positive correlation between earning and subsequent level of schooling, this paper presents a concept of an investment policy which will help the impoverished children in becoming economically successful through systematic funding of their educational needs with an obligation of interest adjusted returns.
ARTICLE | doi:10.20944/preprints201808.0213.v1
Subject: Business, Economics And Management, Econometrics And Statistics Keywords: FDI, M&Q, energy, supply chain, inbound investment, outbound investment, BRI.
Online: 12 August 2018 (19:19:40 CEST)
Global financial investments in energy production and consumption are significant since all aspects of a country's economic activity, and development require energy resources. In this paper, we assess the investment trends in the global energy sector during, before and after financial crises of 2008 using two data sources: (1) Dealogic database providing cross‐border mergers and acquisitions (M&As), and (2) fDi Intelligence fDi Markets database providing greenfield (GF) foreign direct investments (FDIs). We highlight the changing role of China and compare its M&A and GF FDI activities to those of the United States, Germany, UK, Japan and others during this period. We analyze the investments along each segment of the energy supply chain of these countries to highlight the geographical origin and destination, sectoral distribution, and cross‐border M&As and GF FDI activities. Our paper shows that while energy accounts for nearly 25% of all GF FDI, it only accounts for 4.82% of total M&A FDI activity in the period 1996-2016. China's outbound FDI in the energy sector started its ascent around the time of the global recession and had accelerated in the post-recession phase. In the energy sector, the development of China's outbound cross‐border M&As is similar to USA or UK, located mostly in the developed countries in the west, while their outbound GF investments are spread across many countries around the world. Also, China's outbound energy M&As are concentrated in certain segments (extraction, and electricity generation) while their GF covers all segments of the energy supply chain.
ARTICLE | doi:10.20944/preprints201608.0159.v2
Subject: Business, Economics And Management, Economics Keywords: public investment; domestic private investment; FDI; crowding out effect; economic growth
Online: 30 August 2016 (04:03:38 CEST)
This paper analyzes the causal effect between domestic private investment, public investment, foreign direct investment and economic growth in Tanzania during the 1970-2014 period. The modified neo-classical growth model is used to estimate the ieffect of investment on economic growth. Also, the economic growth models based on Phetsavong and Ichihashi (2012) , and Le and Suruga (2005) are used to estimate the crowding out effect of public investment on domestic private investment on one hand and foreign direct investment on the other hand. In the same way, the crowding out effect of foreign direct investment on domestic private investment is estimated. A correlation test is applied to check the correlation among independent variables, and the results show that there is very low correlation suggesting that multicollinearity is not a serious problem. Moreover, the diagnostic tests including RESET regression errors specification test, Breusch-Godfrey serial correlation LM test, Jacque-Bera-normality test and white heteroskedasticity test reveal that the model has no signs of misspecification and that, the residuals are serially uncorrelated, normally distributed and homoskedastic. Broadly, the empirical results show that the domestic private investment and foreign direct investment play an important role in economic growth in Tanzania. Besides, a revealed negative, albeit weak, association between public and private investment suggests that the positive effect of domestic private investment on economic growth becomes smaller when public investment-to-GDP ratio exceeds 8-10 percent. Similarly, foreign direct investment tends to marginally reduce the impact of domestic private investment on growth. These results suggest that public investment and foreign direct investment need to be considered carefully in order to avoid a reduced positive impact of domestic private investment on growth. Domestic saving may be promoted to encourage domestic investment for economic growth.
ARTICLE | doi:10.20944/preprints202210.0027.v1
Subject: Computer Science And Mathematics, Computer Science Keywords: cross-disciplinary; AI; blockchain; investment; protection
Online: 5 October 2022 (04:04:40 CEST)
This article presents the results of a cross-disciplinary applied study exploring investors’ protections in the context of distributed ledger technology (DLT) smart contracts. Fusing legal, business, and technical perspectives, we developed a framework for protection from non-commercial risks for stablecoins, taking advantage of DLT and AI. A key concept we propose is the monitoring of disinformation and fake news to prevent malicious parties from abusing our solution. Based on the similarities between central bank digital currencies (CBDCs) and stablecoins, we propose scaling up our results to all future internet investments performed without face-to-face contact between the investor and the company.
ARTICLE | doi:10.20944/preprints202209.0294.v1
Subject: Computer Science And Mathematics, Computational Mathematics Keywords: Financial Investment; Machine Learning; Artificial Intelligence.
Online: 20 September 2022 (05:45:26 CEST)
To support the decision making process of new investors, this paper aims to implement Machine Learning algorithms to generate investment indications. Three artificial intelligence techniques were implemented, namely: Multilayer Perceptron, Logistic Regression and Decision Tree, which performed the classification of investments. The results of the different algorithms were compared to each other using the metrics: accuracy, precision, recall, and F1-score. The Decision Tree was the algorithm that obtained the best classification metrics and an accuracy of 77%.
ARTICLE | doi:10.20944/preprints201903.0273.v1
Subject: Business, Economics And Management, Economics Keywords: foreign direct investment; economic growth; economies
Online: 29 March 2019 (08:01:17 CET)
This paper aims to research whether there is link between FDI inflows and Economic growth in the Republic of Seychelles Island. The ordinary least square results obtained shows that in the impact of FDI inflows on economic growth is low. Small Island Developing States attracts less FDI inflow because they are limited to few resources that attracts overseas firms which results in retarded development. The research lighted that impact of foreign direct investment on host countries does not only depend on the quality and quantity of the FDI inflows but some other variables such as the internal policies and the management skills, market structures, economic trends among others.
Subject: Social Sciences, Education Keywords: University tuition fees; educational equality; educational investment
Online: 15 August 2023 (08:55:06 CEST)
The expansion of university enrollment and the implementation of tuition fees have become focal points of discussion in both current educational practices and theories. While increased university enrollment offers more opportunities for higher education, the high cost of tuition fees has pushed economically disadvantaged students to the brink of discontinuing their studies, prompting widespread concerns about educational equality.
Subject: Business, Economics And Management, Accounting And Taxation Keywords: Foreign direct investment; technological innovation; ARDL approach
Online: 20 May 2021 (11:04:28 CEST)
Fostering innovation is considered one of the key policy priorities in most governments' agendas in developing countries, and foreign direct investment (FDI) is considered a principal resource for financing sustainable development, corresponding to 17 sustainable development goals (SDGs). This study analyzes the extent to which inward FDI affects innovation (proxied with patent applications) in Sri Lanka using secondary data from 1990 to 2019. We used the Autoregressive Distributed Lag (ARDL) cointegration procedure to examine the long-run relationships between variables. As per the study results, the coefficient of inward FDI is a negative sign while the coefficients of per capita gross domestic product (GDP) and high technology exports (HEX) show positive signs 2.142 and 0.414, respectively, and statistically significant in the long run. It is demonstrated that per capita GDP and high technology exports are an important variable in explaining technological innovation, and inward FDI and education expenditure (EDU) did not contribute towards widening technological innovation in Sri Lanka. Shaping the future of FDI in Sri Lanka is essential to foster innovation capability.
ARTICLE | doi:10.20944/preprints202201.0450.v1
Subject: Business, Economics And Management, Economics Keywords: Credit to Private Sector; Foreign Direct Investment; Government Consumption Expenditure; Public Investment; Error Correction Model and South Africa
Online: 31 January 2022 (11:15:23 CET)
This study aims to explore the link between public investment and private investment in South Africa, using time series data spanning 40 years (1980–2020). Private investment is subdivided into credit to private sector (CPS) and foreign direct investment (FDI). Several econometric methodologies were used in the study, including the unit root test, cointegration test, and Error Correction Method (ECM). The Phillips-Perron (PP) test results point out that all the variables are stationary at levels with the exception of public investment (PI) which is stationary at first difference. The co-integration test reveals that the variables have a long-run equilibrium relationship. According to the findings of the ECM, public investment has a negative relationship with private investment (as measured by credit to private sector and foreign direct investment). The conclusion implies that in South Africa, public investment crowds out private investment. Other results revealed that, RGDP crowds in credit to private sector while crowding out foreign direct investment. Finally, the ECM findings show that government consumption expenditure crowds out credit to private sector and foreign direct investment. The residuals are homoskedastic and show no serial correlation, indicating that the model is adequate, according to the test for adequacy.
ARTICLE | doi:10.20944/preprints202311.0524.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: ESG; investment decision; individual investor; Vietnamese stock market
Online: 8 November 2023 (16:14:30 CET)
In recent years, the implementation and disclosure of ESG information has become indispensable for companies around the world. Companies need to publish ESG reports to meet the requirements of shareholders, investors, and society. Therefore, this article aims to study the impact of ESG report information on the investment decisions of individual investors at Vietnamese stock markets. We apply Theory of Planned Behavior (TPB) to examine the "attitude" of individual investors towards ESG reports and the "investment intentions” on ESG reported companies. We employ logistic regression to analyze a usable sample of 232 individual investors. It is found that ESG reports have a nexus with the decision- making of individual investors. The investors pay more attention to Governance (G) information than Social (S) information and Environmental (E) information in ESG reports when making investment decisions. These findings would promote the listed companies and regulatory agencies to disclosure more information and issue regulations on ESG reports to encourage individual investors at emerging stock markets.
ARTICLE | doi:10.20944/preprints202310.0304.v1
Subject: Business, Economics And Management, Business And Management Keywords: key components; overconfidence; revenue-sharing; R&D investment
Online: 6 October 2023 (07:54:55 CEST)
Revenue-sharing (RS) contracts are a common approach to incentivize innovation of upstream suppliers by addressing the uneven profit distribution between upstream and downstream firms. Considering the possible overconfidence characterizing decision makers in the supply chain, we investigate the effect of the RS contract and the tendency of overconfidence of supply chain members on the investment in R&D of key components of products in the context of an upstream supplier that is the leader in the R&D and production of key components. We find that regardless of the bargaining power of either party, a RS contract can increase the R&D investment in key components. Regarding the effects of overconfidence of either downstream manufacturer or up-stream supplier, it can increase the R&D investment in key components. Supplier (manufacturer) overconfidence can harm their own profits but increase the profits of the manufacturer (supplier), and when the level of overconfidence is below a certain threshold, the damage to their own profits is less than the increase in each other's profits, thus benefiting the whole supply chain. In addition, we also find a joint effect of RS contracts and overconfidence: when the bargaining power of the supplier is low, the RS contract has a certain compensatory effect on the loss of their own profits caused by overconfidence.
ARTICLE | doi:10.20944/preprints202007.0098.v1
Subject: Engineering, Energy And Fuel Technology Keywords: heat sector; bioenergy; optimization; consumer choice; investment behavior
Online: 6 July 2020 (09:01:38 CEST)
Energy system optimization models (ESOM) are widely used to inform about energy transition strategies. The heterogeneity of consumers, especially in the heat sector, is rarely considered in these model types. Integrating consumer heterogeneity and behavioral factors into ESOMs may generate new insights for energy policy. In this study a literature review was conducted, identifying empirical data on consumer behavior for adopting residential heating systems. This data was integrated into an ESOM for the German heat sector, combining established methods for integrating consumer heterogeneity and a novel approach for calculating indirect costs, representing behavioral factors. The incorporation of consumer choice leads to a higher diversity in technology market shares in a business as usual and an ambitious measures scenario. Especially, the future role of log wood technologies in the private household sector may have been underestimated in previous studies and should be discussed, when designing policies. Still, these findings need to be handled with care, since the empirical data basis and the methodological basis is limited.
CONCEPT PAPER | doi:10.20944/preprints202005.0111.v1
Subject: Business, Economics And Management, Econometrics And Statistics Keywords: migrant remittances; foreign capital; consumption; investment; economic growth
Online: 7 May 2020 (08:26:35 CEST)
Economic globalization has increased interdependence, particularly among the developing economies. This has increased the potential of migration across the national borders. In a similar context, the Indian economy has witnessed a rapid growth in the number of migrants after the phase of globalization. The rise in the migrant stock has led to a massive increase in the income generated through international borders in the form of remittances. India has become one of the top recipients of remittances with 79$ billion inflows in 2018. The major factor driving the growth of migrant remittances has been the monetary incentives that raise the standard of living of the recipient’s households. The rise in the income level of these households also affects other economic parameters including consumption and investment. Apart from this, the pattern of migration has also changed since the past few years with skilled workers migrating to the developed economies and unskilled ones migrating to the Gulf economies. In this context, the present study examines the trend and pattern of remittance inflows in India for the period of 1975-2017. Additionally, the study explores how remittance inflows affect the level of household consumption and investments. This relationship was examined using a two-stage least squares method by framing a set of simultaneous equations. The findings of the two-stage least square estimates indicate that though personal remittances do not impact the gross domestic product of the economy directly. But, an increase in the inflow of personal remittances leads to a rise in consumption and investment which in turn plays an important role in determining the Gross Domestic Product of the economy.
ARTICLE | doi:10.20944/preprints201810.0297.v1
Subject: Computer Science And Mathematics, Artificial Intelligence And Machine Learning Keywords: real estate; appraisal; investment; machine learning; artificial intelligence
Online: 15 October 2018 (10:31:07 CEST)
The real estate market is exposed to many fluctuations in prices, because of existing correlations with many variables, some of which cannot be controlled or might even be unknown. Housing prices can increase rapidly (or in some cases, also drop very fast), yet the numerous listings available online where houses are sold or rented are not likely to be updated that often. In some cases, individuals interested in selling a house (or apartment) might include it in some online listing, and forget about updating the price. In other cases, some individuals might be interested in deliberately setting a price below the market price in order to sell the home faster, for various reasons. In this paper we aim at developing a machine learning application that identifies opportunities in the real estate market in real time, i.e., houses that are listed with a price substantially below the market price. This program can be useful for investors interested in the housing market. We have focused in a use case considering real estate assets located in the Salamanca district in Madrid (Spain) and listed in the most relevant Spanish online site for home sales and rentals. The application is formally implemented as a regression problem, that tries to estimate the market price of a house given features retrieved from public online listings. For building this application, we have performed a feature engineering stage in order to discover relevant features that allows attaining a high predictive performance. Several machine learning algorithms have been tested, including regression trees, $k$-nearest neighbors, support vector machines and neural networks, identifying advantages and handicaps of each of them.
REVIEW | doi:10.20944/preprints201809.0084.v1
Subject: Business, Economics And Management, Economics Keywords: corporate tax; fdi; tax incentives; tax rate; investment
Online: 5 September 2018 (05:10:14 CEST)
This paper discusses corporate taxes and Foreign Direct Investment (FDI) in Nigeria. It is a review of literature that attempts to explore and give a reality on the response of FDI to corporate taxes. This paper shows in its introductory phase a prior discussion of the terms corporate tax and FDI and also elements of both terms and classifications. It follows with issues such as the effects of corporate taxes on FDI. This paper discusses the rhetoric whether reduced corporate taxes and other tax incentives has an effect on the inflow of FDI in Nigeria. To answer this question, the paper utilised information gathered from secondary sources including books, newspapers publications, working papers and research findings from studies. This paper shows that from surveyed empirical studies corporate taxes may have an important role in attracting FDI and have a rising effect on the development of the country, and as such recommends that tax incentives should be employed as a means to attracting FDI, a cost benefit analysis should be employed on the types of corporate taxes to determine the benefit from the perceived FDI inflow, in addition a review of the current tax policies should be carried out as they seem not to respond to the current economic situation.
ARTICLE | doi:10.20944/preprints202309.1152.v1
Subject: Environmental And Earth Sciences, Environmental Science Keywords: renewable energy; wind power; wind park; investment plan; Retscreen
Online: 18 September 2023 (09:41:52 CEST)
Considering that traditional energy sources such as fossil fuel are about to deplete during the following decades, governments try to turn to renewable energy. It is commonly known that Greece has a natural advantage of abundant solar energy and wind power due to its geographical location and characteristics.The main focus of this study is to examine how wind energy potential across the Aegean Sea and continental Greece can provide a promising field for investments in Greece, considering the economic crisis, current trends and future perspectives.We firstly focus on current legislation framework considering that laws associated with such types of investment in Greece are very complex and rapidly changing. Furthermore, a case study for a hypothetical investment plan concerning a wind park located in an Aegean island will be presented. RetScreen which is a software made by the Canadian government, will be used as a decision support tool for analyzing the potential investment scenario and a financial report will follow with estimation of the overall cost, depreciation, upcoming benefits, and payback period of the investment.Data analysis concludes that wind parks still prove to be an economically viable investment, although incentives considering the guaranteed price per kwh and faster investment times must be provided by the government.
ARTICLE | doi:10.20944/preprints202307.0723.v1
Subject: Engineering, Metallurgy And Metallurgical Engineering Keywords: fluidity test; investment casting; pattern wax; viscosity; wax injection
Online: 11 July 2023 (12:25:07 CEST)
In the investment casting process, the pattern made of wax is obtained in a die for further formation of shell mold. This work investigates commercial pattern waxes fluidity with a newly developed injection fluidity test. A good correlation between wax fluidity and its viscosity is observed, which is different from metallic alloys, where the solidification behavior is more critical. The difference in investigated filled waxes fluidity can be associated with the type and amount of filler.
ARTICLE | doi:10.20944/preprints201802.0124.v1
Subject: Business, Economics And Management, Business And Management Keywords: sustainable investment, corporate performance, economic development, VAR, and VECM
Online: 19 February 2018 (16:23:14 CET)
This paper explores how the sustainable investment impacts financial returns and economic development in of Asia Pacific and North America, utilizing real data empirically. In academia and industrial field, it is polemical that indeed, the sustainable behavior has economic returns. In order to clarify that, we tested hypotheses with an analysis of seven stock markets, accounting of rates such as ROI, ROIC, and ROA in eleven companies, and GDP/GNI per capita. The results indicate that both financial return and economic development are positively germane to the sustainable investment. Besides, the variance of sustainability to economic development exists, depending on GDP per capita between two regions. We conclude, concerning the sustainability, by corroborating micro perspective for corporate level and macro perspective of economic development in the private and public sector. This research consequence will be interested in both practitioners and researchers in the measurement of sustainability performance
ARTICLE | doi:10.20944/preprints202201.0257.v1
Subject: Business, Economics And Management, Economics Keywords: FDI; Domestic Investment; Government Investment Expenditure; Economic Growth; Real exchange rate; Gross Domestic Savings; Trade openness; ARDL-ECM Approach and South Africa
Online: 18 January 2022 (12:42:00 CET)
The aim of this study is to empirically examine the link between foreign direct investment (FDI) and domestic investment (DI) in South Africa over the period of 41 years (1975-2016). Accurately, it attempts to determine whether FDI crowds in or crowds out DI in South Africa. DI is sub-divided into private domestic investment (credit to domestic private sector) and public corporation investment (state owned enterprises). We used the Autoregressive Distributed Lag-Error Correction Model (ARDL-ECM) technique to ascertain long run and short run effects concurrently after establishing that the variables were stationary (using the PP test). The results of the unit root test shows that all variables are integrated of order zero I(0) or integrated of order one I(1), indicating that the series of variables are stationary in the level or first difference form. The findings revealed that variables are cointegrated in the long run. The ARDL model found a negative link between FDI and domestic investment. The result implies that FDI crowds out domestic investment. Moreover, the long run estimate revealed that domestic investment is crowded in by government investment expenditure (GINV). Other findings uncovered that, GDP crowds out private domestic investment while crowding in public corporation investment. Moreover, the long run estimate revealed that domestic investment is crowded in by gross domestic savings (SAV). On the other hand, the real exchange rate (EXCR) crowds out private domestic investment while crowding in public corporation investment. Trade openness (TRA) crowds out domestic investment. Additionally, the short run estimate uncovered that private domestic investment is crowded out by FDI, EXCR, and TRA whereas GINV, GDP and SAV is crowding in private domestic investment. Other findings discovered that, in the short run, public corporation investment is crowded out by FDI, GDP, EXCR and TRA, while GINV and SAV crowd in public corporation investment. The CUSUM confirms that the models are structurally firmness.
ARTICLE | doi:10.20944/preprints202311.1598.v1
Subject: Business, Economics And Management, Finance Keywords: socially responsible investment funds; conventional funds; profitability; multifactorial models; risk
Online: 24 November 2023 (11:30:08 CET)
Socially Responsible Investments, also referred to as ethical or sustainable investments, have experienced rapid global growth in recent years. They represent an investment approach that incorporates social, environmental, and ethical considerations into decision-making processes. Consequently, the significance of SRIs has captured the attention of academics, prompting inquiries into the impact of integrating social criteria on portfolio performance. The primary objective of this work was to conduct a comparative study of the performance between socially responsible and non-socially responsible investment funds, using funds domiciled in Portugal and Spain. Various multi-factor models, including the three-factor model of Fama and French (1992), the four-factor model of Carhart (1997), and the five-factor model of Fama and French (2015), were employed to assess performance. The sample comprised 125 investment funds, with 43 identified as socially responsible and 82 as non-socially responsible. The study's findings indicate that there are no significant differences between socially responsible funds and their conventional counterparts. The majority of funds experience performance alterations during periods of crisis compared to crisis-free periods. Additionally, when comparing non-conditional models with conditional models, an improvement in the explanatory power of the latter is observed. This suggests that the inclusion of the dummy variable enhances the quality of fit for the models.
ARTICLE | doi:10.20944/preprints202303.0457.v1
Subject: Medicine And Pharmacology, Reproductive Medicine Keywords: Historic Syrian cities; cultural preservation; tourism investment; Challenges; key players
Online: 27 March 2023 (10:06:28 CEST)
This paper explores the challenges and opportunities of balancing cultural preservation and tourism investment in historic Syrian cities in the post-war period. The Syrian conflict has caused significant damage to the country's cultural heritage, including its ancient cities, which are UNESCO World Heritage sites. Key issues raised include what challenges local governments to face, the impact of the war on the preservation of historic sites, how tourism can be used as a tool for economic development, and how to ensure that cultural heritage is preserved while also allowing for tourism investment. To gain an in-depth understanding of the old Syrian cities, extensive research has been conducted, including a review of existing literature and interviews with key stakeholders. The researcher found that rebuilding historic Syrian cities is a complex task that requires balancing cultural preservation with tourism investment. It will require collaboration between government officials, preservationists, developers, and local communities to ensure that these cities are restored in a way that respects their history and culture while also promoting economic growth through tourism.
ARTICLE | doi:10.20944/preprints202110.0159.v2
Subject: Business, Economics And Management, Finance Keywords: Maritime Silk Road; investment environment; dynamic evaluation; projection pursuit cluster
Online: 14 October 2021 (10:47:02 CEST)
Understanding and evaluating urban investment environment is essential for effectively improving the efficiency of resource allocation between cities and promoting overall development of the regional economy. This paper takes 15 node cities on maritime Silk Road covered by the “Belt and Road” as the research object, establishes a dynamic evaluation index system for investment environment, and uses projection pursuit cluster to analyze and evaluate the investment environment of the cities. It is found that the investment environment potential of a city is directly related to the level of social development, economic development, and the degree of opening to the outside world. It is recommended that node cities should seize the important opportunity of the construction of the Maritime Silk Road, introduce world-wide human, financial and material resources to promote regional resources allocation and flow, and continuously improve and upgrade the investment environment quality.
ARTICLE | doi:10.20944/preprints202012.0611.v1
Subject: Business, Economics And Management, Economics Keywords: Time-series analysis; Foreign Direct Investment; economic growth; Bangladesh economy
Online: 24 December 2020 (09:30:19 CET)
This study investigates the impact of Foreign Direct Investment (FDI) on economic growth and examines the causality between FDI and economic growth in Bangladesh during 1972-2013. Gross Domestic Product (GDP), export performance (EXP), Foreign Direct Investment (FDI), and Gross Fixed Capital Formation (GFCF) are considered to capture the objective of the study. The study methodology includes some systematic steps. As the data used in the study is time-series in nature, the author employs unit root tests, and in this case, Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) tests are used. Then Johansen’s cointegration test, Granger causality test, regression with Newey-West Standard Error and Vector Error Correction Model (VECM) are applied. By using the ADF and PP test the study reveals that the variables of four-time series are integrated of I (1) i.e. they are stationary at first difference. Regression analysis result demonstrates that FDI has a positive effect on economic growth. The Granger Causality test discloses that there is a unidirectional relationship between FDI and economic growth. But the VECM estimation finds that in the long run FDI negatively affects economic growth.
ARTICLE | doi:10.20944/preprints202009.0284.v1
Subject: Business, Economics And Management, Economics Keywords: public debt; government spending efficiency; public investment; public sector corruption
Online: 13 September 2020 (12:09:52 CEST)
This study examines whether government spending efficiency is associated with differential effects of public investment on debt-to-GDP ratio for a panel data consisting of 16 developing countries in Asia-Pacific region over the period 2007-2017. Public investment is central to implementing the UN 2030 Agenda for Sustainable Development — but high debt-to-GDP ratio poses a key risk. The empirical results indicate that public investment efficiency moderates debt-to-GDP ratio whereas public investment in the midst of public sector corruption accentuates debt-to-GDP ratio. The results have important policy implications.
ARTICLE | doi:10.20944/preprints201807.0563.v1
Subject: Social Sciences, Decision Sciences Keywords: technological innovation; cloud computing; compound binomial options; investment risk; uncertainty
Online: 30 July 2018 (07:40:39 CEST)
The purpose of this paper is to evaluate the timing of innovative investment in technology product life cycles using a compound binomial option with management flexibility. Considering the business cycles changes in the macroeconomic will affect consumer purchasing power. The focus is how to evaluate the optimal investment strategy and the project value. It was applied to different product stages (three stages including production innovation, manufacture innovation, and operation innovation) and factored to different risks to build a technology innovation strategy model. An aim of this study is the options premium of the best strategy timing for each innovation stage. Its application of the compound binomial options for the manufacture innovation will only be considered after the execution of the production innovation. The same condition is applied to the operation innovation, which will only be considered after the execution of the manufacture innovation. Then, this paper constructs the dynamic investment sequential decision model, assesses the feasibility of an investment strategy, and makes a decision on the appropriate project value and options premium for each stage under the possible change of Gross Domestic Product (GDP). This paper investigates the product life cycle innovation investment topic by using the compound binomial options method and will provide a more flexible strategy decision compared with other trend forecast criteria.
ARTICLE | doi:10.20944/preprints202305.1537.v1
Subject: Environmental And Earth Sciences, Environmental Science Keywords: global gas; LNG; supply and demand dynamics; market outlook; investment needs
Online: 23 May 2023 (02:57:40 CEST)
This article provides a comprehensive analysis of the global gas and liquefied natural gas (LNG) markets. The article begins by discussing the increasing demand for gas and LNG, particularly in Asia, as countries aim to transition to cleaner sources of energy. It explores how market volatility has led to energy security interventions and lasting economic and emissions impacts. It then explores the global supply and demand dynamics, highlighting the structural change expected in the market and the competition between Europe and Asia for limited new LNG supply. The article also focuses on Europe's increased flexibility and dependence on LNG imports, which have risen by 60% to 121 million tonnes, offsetting lower Russian pipeline imports. Furthermore, the article delves into global supply and demand dynamics, how the market is expected to remain tight, and how record gas and LNG prices have led to demand reductions. Additionally, it analyzes the future outlook and investment needs, highlighting the continued uptake of gas in heavy-duty transport and the need for further investment to avoid a supply-demand gap. The article concludes with an analysis of the implications for the future of the global gas and LNG markets.
ARTICLE | doi:10.20944/preprints202104.0329.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: Financial Behavior; Investor Attitudes; Traders and Investors Behavior; Experience; Investment Decision
Online: 13 April 2021 (09:14:10 CEST)
Pakistan is under developing country and it has an unpredictable market nature of shareholder-investors observe the company’s performance. This research could help to companies in understanding financial behavior, attitude and investors’ satisfaction in stock trade. Financial behavior is comparatively new subject in Pakistan therefore; this study has examined the financial behavior and attitude of investors. The behavioral finance that has been attempted to understand the positive experiences influences investors’ financial behavior. This study has find out that investor satisfaction is strongest in influence of positive financial behavior of investor and trader in stock trading; positive experience and brokers suggestions are strengthens the investment decision of investors and increases behavior loyalty to prefer over competitor. The main purpose of research to determine the effect of financial behavior on investors’ attitude and behavioral loyalty and investors’ satisfaction to preference over competitor. The research framework links with experiences in stock trade for positive (negative) experiences, attitude and financial behavior is developed. The research framework is measured data from sample of Karachi and Karachi Stock Exchange; the data is analyzed in smart PLS based on PLS-SEM. This study focused on trading experience with company’s active investors and traders in banking industry in Pakistan. The future research could be research in other sectors with inter-related issue of investors and traders (brokers) in stock trade. This is the first study in this research area; this study will be determine the experiences with positive (negative) financial behavior, attitude, satisfaction and behavioral loyalty of investors and traders in stock trade. Therefore, adding in this area of study which will help understanding the investors and traders attitude, preference and financial behavior in financial market.
ARTICLE | doi:10.20944/preprints201811.0264.v1
Subject: Biology And Life Sciences, Ecology, Evolution, Behavior And Systematics Keywords: feeding behavior; Peripatidae; invertebrate behavior; undescribed Costa Rican onychophorans; parental investment
Online: 12 November 2018 (04:51:33 CET)
We report, for the first time in onychophorans, food hiding, parental feeding investment and an ontogenetic diet shift, from adhesive to prey, after their first two weeks of life.
ARTICLE | doi:10.20944/preprints201612.0035.v1
Subject: Business, Economics And Management, Economics Keywords: inflation risk; investment returns; life annuity; longevity risk; post-retirement benefits
Online: 7 December 2016 (10:27:23 CET)
Building a social security system to ensure Singapore residents have peace of mind in funding for retirement has been at the top of Singapore Government’s policy agenda over the last decade. Implementation of the Lifelong Income For the Elderly (LIFE) scheme in 2009 clearly shows that the government spares no effort in improving its pension scheme to boost its residents’ income after retirement. Despite the recent modifications to the LIFE scheme, Singapore residents must still choose between two plans: the Standard and Basic plans. To enhance the flexibility of the LIFE scheme while maintaining its simplicity, we propose some plan modifications such that scheme members do not face a dichotomy of plan choices. Instead, they select two age parameters: the Payout Age and the Life-annuity Age. This paper provides an actuarial framework for determining members’ payouts and bequests based on the proposed age parameters. We analyze the net cash receipts and internal rate of return (IRR) for various plan-parameter configurations. This information helps members make their plan choices. To address cost-of-living increases we propose to extend the plan to accommodate an annual step-up of monthly payouts. By deferring the Payout Age from 65 to 68, members can enjoy an annual increase of about 2% of the payouts for the same first-year monthly benefits.
ARTICLE | doi:10.20944/preprints202308.1877.v1
Subject: Business, Economics And Management, Economics Keywords: Economic growth; Foreign Direct Investment; Import and Export; Influence Analysis; Labor Force
Online: 29 August 2023 (03:04:57 CEST)
This study aims to explore predictors of the foreign investment from China coming into Rwanda. One of the components of Rwanda’s economy is the investment it receives from other countries. In order to achieve these objectives, the study gathers econometric secondary data from 2007 to 2020 quarterly which were availably provided by National Statistics of China, World Bank, UNCTAD, National Institute of Statistics of Rwanda, and the National bank of Rwanda. From literature and based on the availability of data, market size, trade openness, infrastructure, and human capital were measured as predictors of Chinese FDI. The data is analyzed using linear regression in Stata. The finding of the study showed that variables have a positive effect on FDI from China, and it found that though FDI had an effect on overall economy of Rwanda, the effect was not statistically significant. The study suggested that Rwanda’s policy on foreign investment should aim to attract and encourage Chinese investment to increase the economy of Rwanda. To encourage more FDI, the Rwandan government can offer Chinese investors greater ownership, locational, and internalization benefits. It also should continue to strengthen economic policy transparency since it lowers transaction costs and hence improves incentives for foreign investment.
ARTICLE | doi:10.20944/preprints202308.0035.v1
Subject: Engineering, Architecture, Building And Construction Keywords: Affordable housing; Private real estate investment; Housing market; National Housing fund; Nigeria
Online: 1 August 2023 (09:56:12 CEST)
Despite the shift to private sector-driven affordable housing in Nigeria for decades, the housing deficit has continued to increase to the disadvantage of low-income families. This paper explores the enabling strategies for stimulating private-driven affordable housing in Nigeria. A case study of the Millard Fuller Foundation projects was undertaken and semi structured interviews were administered to 12 residents of the estates and the developer to explore their experience and highlight the considerations for designing appropriate strategies. The data generated was analysed using thematic analysis with the support of Nvivo. The study identifies four major components of construction costs- land, design, materials, and finance that policy improvement can target to stimulate private investment. It shows that developers are likely to adopt practices that will reduce these costs with repercussions for end-users. Mindful of this, and the concern to make returns on investment, strategies should aim to harmonise both developers’ interest and that of the end-users through widespread infrastructural development to make land available in all locations, and incremental owner-building approach so that end users can take decisions for their housing. Furthermore, access to the National Housing Fund (NHF) mortgages should be enhanced by recognising supplementary incomes in the loan origination procedures
ARTICLE | doi:10.20944/preprints202307.0190.v1
Subject: Business, Economics And Management, Economics Keywords: Economic Geography; Free Economic Zone; Foreign Direct Investment; Industrial Location; Spatial Patterns
Online: 4 July 2023 (11:20:33 CEST)
Uzbekistan, as an emerging national economy, aims to attract foreign direct investment (FDI) to foster the development of its free economic zones (FEZs). While recent policy reforms have enhanced the country's appeal to investors and facilitated the inflow of international capital, challenges persist in attracting investment. This study employs an economic geographical approach to analyze and propose solutions to these obstacles. By examining the spatial patterns of FEZs and FDI through a comprehensive geographical lens, this research utilizes document analysis as an alternative to empirical analysis, considering the broader context rather than focusing on a specific FEZ. The findings reveal that the insufficiency of an innovation-driven environment, logistical systems, energy resource-related issues, among others, negatively impact the inflow of FDI into FEZs. Moreover, the study underscores the significance of economic geography in understanding these factors. Finally, relevant insights and recommendations are provided from an economic geographical perspective.
ARTICLE | doi:10.20944/preprints202305.0358.v1
Subject: Business, Economics And Management, Finance Keywords: Energy sector; Foreign direct investment; Belt and Road Initiative; Benefit and Risk
Online: 5 May 2023 (10:54:02 CEST)
China's gradually increasing assertiveness at the international level marked the beginning of several influential geopolitical projects. The biggest of these is the Belt and Road Initiative, which will be the subject of this post. The Chinese government initiated the BRI in 2013 to revive the historic Silk Road. The name of the new initiative was chosen based on well-known historical parallels, emphasizing the ideological component of China's current position. At the same time, neo-mercantilism prevails in China, and we can say that all roads lead to China, which means that the current nature of Chinese strategic planning corresponds to the increasingly important role of the state in international relations and strengthens its position in the world economy. The aim of the paper is to use the methods of analysis, synthesis, deduction, induction, comparison, and explanation to analyse Chinese investments that flow into various sectors worldwide, but especially into the countries participating in the Belt and Road Initiative from 2013 to the present. The largest such sector is the energy sector, which we will look at in more detail in the post. Finally, the contribution will be focused on predicting the development of further investments based on the available information as well as our own suggestions and recommendations to make them more efficient.
ARTICLE | doi:10.20944/preprints202304.0390.v1
Subject: Social Sciences, Urban Studies And Planning Keywords: Investment; university; campus open spaces; student experience; typology; assessment; intensity of use.
Online: 17 April 2023 (03:53:06 CEST)
As universities increasingly compete to improve students’ experience through investment in their campuses, well-designed Campus Open Spaces (COSs) become a major feature as well as a marketing tool. Well-designed and managed COSs are increasingly attractive to students and increase the number of public visits to university campuses (footfall). Current literature does not provide planners with evidence of what makes a COS add value to the student experiences. As such, this paper aims to find the nexus between the value/cost of COS and the attractiveness to - and enhanced experience of - students. This aim is approached via a three-phase integrative framework and results in a validated assessment model with a ‘COS Exp score’ that quantifies the most used/vital, best used/engaging, and most valued/beneficial COS. The data was gathered from in-depth analysis of 21 universities in the UK & USA. The conclusion offers valuable insights into improving experience-based outdoor space developments.
ARTICLE | doi:10.20944/preprints202304.0120.v1
Subject: Business, Economics And Management, Economics Keywords: innovation (IN); technology revolution (TR); foreign direct investment (FDI); economic growth (EG)
Online: 7 April 2023 (09:01:00 CEST)
Changing climate conditions and rapidly increasing carbon dioxide emissions have severely affected the global ecosystem and world economy. Governments around the world have paid attention to these resulting challenges and enacted many policies to reduce environmental pollution and carbon dioxide (CO2) emissions. This study aimed to determine and understand the relationship between innovation, foreign direct investment, economic growth, renewable consumption and CO2 emission in Vietnam. Information was collected annually based on the annual data of the General Statistics Office of Vietnam and World Bank from 2000 to 2022. Data processing was conducted using the STATA 17.0 software. The innovation affects Vietnam’s environmental pollution. Innovation positively affect environmental pollution in Vietnam; if Vietnam’s innovation were to increase by 1%, CO2 emissions would increase by 0.68%. The empirical research results of this study also show that renewable energy consumption has a negative effect on environmental pollution in Vietnam; if renewable energy were consumed at a 1% increase, CO2 emission would decrease by 0.51%. In addition, FDI inflows and economic growth have strongly positive affecting to environmental pollution; if Vietnam’s FDI inflows were to increase 1%, CO2 emissions would increase 1.39%; if Vietnam’s GDP increase 1% then CO2 emission would increase 1.26%. This paper also provides some recommendations that can assist Vietnam in developing a green and sustainable economy in the technology revolution 4.0 to achieve the United Nations Sustainable Development Goals (SDGs) over a long-term period.
ARTICLE | doi:10.20944/preprints202204.0237.v1
Subject: Business, Economics And Management, Business And Management Keywords: Chinese family business; intergenerational succession intention; institutional environment; innovation investment; innovation output
Online: 26 April 2022 (10:39:47 CEST)
In the development and growth of family businesses, succession is an unsolvable problem, which is also a popular focus of academic research. For a family firm, succession may be a strategic decision but also a long-term and intricate "footrace." It will have a significant impact on the long-term viability of a family firm if it is not handled appropriately. This study mainly explores the influences of family business owners' intergenerational succession intention on their family firms’ innovation strategy in China. In addition, this study further examines the moderating role of the institutional environment in the above relationship. Therefore, the data in this article comes from a survey of 271 family businesses in eight different regions of China. Also, this paper can aid the smooth transition of intergenerational transmission of small and medium-sized family businesses in addition to the untroubled development of technological innovation activities. Specifically, the institutional environment plays a negative moderating role in the relationship between family succession, radical succession, technological innovation, and a positive regulating role in the relationship between single equity succession and technological innovation.
ARTICLE | doi:10.20944/preprints202201.0330.v1
Subject: Business, Economics And Management, Economics Keywords: Female Participation in Labor Force (FPLF); Foreign Direct Investment (FDI); System GMM
Online: 21 January 2022 (13:39:27 CET)
This study assesses the impact of globalization on female participation in the labor force (FPLF). The increased globalization in the last several decades has created various economic opportunities for enterprises and individuals worldwide at an unprecedented rate. As a result, it has helped improve the quality of life for many men and women. In this process, the issue of women’s economic participation has been a critical topic for discussion worldwide. In that context, the objective of the paper is to determine if FPLF is influenced by a country’s participation in foreign markets through foreign direct investment (FDI) – a proxy for globalization. The paper uses a panel dataset obtained from the World Bank’s World Development Indicators database for 99 countries from 2001 to 2018. We then use system Generalized Method of Moments (system GMM) to estimate a dynamic panel model with appropriate specification tests. The results show that the positive effects of FDI on FPLF are more robust for low- and middle-income countries than high-income countries. We also find that results may be sensitive to outlier observations. Our results explain the seemingly inconclusive results within existing literatures and suggest that low- and middle-income countries should particularly focus on sectors that generate FDI as they stand to yield the greatest benefits with regards to female economic empowerment.
ARTICLE | doi:10.20944/preprints201804.0274.v2
Subject: Engineering, Energy And Fuel Technology Keywords: energy performance contracting; trust; annual energy saving quantity; annual cost saving; investment
Online: 16 May 2018 (11:14:51 CEST)
A lack of trust in Energy Service Company (ESCo) is the most critical factor affecting the development of Energy Performance Contracting (EPC) in China compared with other constraints. One cannot easily estimate the energy-saving performance of an EPC project. Under that condition, lack of trust may cause the Energy-Consuming Unit (ECU) to suspect the energy-saving performance promised by the ESCo, thus leaving potentially profitable projects without necessary funding. Currently, specific studies taking an across-projects viewpoint on annual energy-saving performance of EPC projects in multiple subsectors objectively and quantitatively are lacking. This paper studies the regression relationships of annual energy-saving quantity in terms of revamping cost and the regression relationships of annual cost saving in terms of revamping cost. The regression results show that there are statistically significant correlations in the above relationships in the nine subsectors investigated. This is significant for ESCos and ECUs because knowledge on energy-saving performance could contribute to EPC investment decisions and trust relationships between ESCos and ECUs. Then a multiple linear regression model of revamping cost is set up to analyze its influencing factors. The model indicates that the subsector the sample belongs to, financing, registered capital of the ESCo, and contract period have significant effects on revamping cost. Thus, policy implications regarding innovation of EE promotion technology, clarifying ESCos’ exit mechanism, innovation of financing mechanism, and improving the market credit environment for promoting investment in EPC projects are provided.
ARTICLE | doi:10.20944/preprints202207.0246.v1
Subject: Social Sciences, Cognitive Science Keywords: complex problem solving; microworlds; personality; investment traits; within-individual variabil-ity; performance trajectories
Online: 18 July 2022 (03:43:39 CEST)
Complex problem-solving (CPS) tasks have become an increasingly popular tool for understand-ing and assessing cognitive ability. These tasks have been repeatedly shown to be predictors of academic and workplace success above and beyond traditional measures of general intelligence and fluid intelligence. To date, there has been little exploration of the underlying mechanisms that drive this additional predictive utility. In this study, we examined the role of a variety of non-cognitive personality and investment traits that could drive performance on CPS tasks. Adult participants (n = 152) were recruited via M-Turk and completed a battery of personality and in-vestment trait measures, a measure of general mental ability, and a 61-trial microworlds-style CPS task. Generalised linear mixed-effects models revealed a wide variety of personality and in-vestment traits influenced task performance above and beyond general mental ability. Specifical-ly, two clusters of traits emerged as important determinants of performance: one cluster that in-fluenced the capacity to deal with the introduction of system randomness (Conscientiousness and Extraversion) and one cluster that influenced the capacity to deal with the introduction of system delays (NFC, Learning Goal Orientation, and Intellect). These findings suggest that CPS tasks do capture more than just general mental ability and may be good predictors of academic and workplace success because they tap into both cognitive ability and the motivation and willingness to engage in cognitive exploration and mental effort.
ARTICLE | doi:10.20944/preprints202307.0088.v1
Subject: Business, Economics And Management, Finance Keywords: disposition effect; anchoring bias; investment decisions; portfolio performance; stable markets; volatile markets; quasi-experiment
Online: 4 July 2023 (03:38:00 CEST)
We present evidence of the anchoring bias and disposition effect (DE) in investor trading decisions across different asset markets (stable and volatile assets) and market scenarios (stable and volatile markets), as well as how these biases affect investors' portfolio performance. The study employs a quasi-experimental design, allowing subjects to engage in interactive trading with four securities, two with potential negative returns and two with potential positive returns, within a simulated asset market. Our findings reveal the presence of the disposition effect and anchoring bias among individual investors in India. Second, market scenarios or volatility can influence the investors’ behavioral biases. The disposition effect was more prominent in volatile markets and the total market, while the anchoring bias was significant in stable and total markets. Additionally, investors exhibiting the disposition effect exhibit lower portfolio performance, while those demonstrating anchoring bias perform relatively better. The study's findings can help individual investors understand their behavioral biases, avoid them in future trading decisions, and improve portfolio performance. Financial institutions and regulatory agencies could identify investment products and supportive investor interactions towards better market trade decisions.
ARTICLE | doi:10.20944/preprints202210.0021.v1
Subject: Public Health And Healthcare, Public Health And Health Services Keywords: the reference group theory; life satisfaction; exercise adherence; personal investment; strategic and cultural fit
Online: 4 October 2022 (11:06:17 CEST)
To expand the application area of the reference group and enrich exercise theoretical research, based on Stimulus-Organism-Response (S–O-R) framework, this study examines the factors that motivate for adherence to exercise from the external. Taking reference group and strategy and cultural fit as the main stimulus, and personal investment and life satisfaction as mediating variables, this study try to explore the influence of external stimulus on residents’ exercise behavior. In order to enrich the sample size, two surveys of 734 Chinese residents in two cities (Xiamen vs. Fuzhou) were conducted using factor analyses, regression analysis, and T-test analysis. The results indicated that the reference group and strategic and cultural fit as external stimulus have impact on residents’personal investment, life satisfaction and exercise adherence, personal investment and life satisfaction as the organism has impact on residents’ exercise adherence. Personal investment and life satisfaction play a chain mediating role between the reference group and exercise adherence, strategy and cultural fit, and exercise adherence. Moreover, the T-test determined the differences between Xiamen and Fuzhou residents’ exercise adherence and life satisfaction. Residents’ surroundings affect their exercise behavior and life satisfaction. These findings have implications for policymaking aimed at promoting national exercise, which could gradually improve residents’ physical fitness, particularly in light of the current coronavirus emergency.
ARTICLE | doi:10.20944/preprints202108.0201.v1
Subject: Business, Economics And Management, Finance Keywords: green credit policy; heavily polluted industries; green innovation efficiency; financing cost; R&D investment
Online: 9 August 2021 (15:02:50 CEST)
Green credit policy as an important tool to guide China's sustainable economic development, how to effectively play the function of capital deployment and improve the efficiency of industrial green innovation is an important issue facing the construction of ecological civilization. This paper uses China's Green Credit Guideline introduced in 2012 as a quasi-natural experiment , based on relevant panel data of industries from 2007 to 2018, uses the Super-SBM model including non-expected output to measure the green innovation efficiency of 35 industries in China, and constructs the PSM-DID model to explore how green credit policy impact on the green innovation efficiency of heavily polluted industries, the results show that : green credit policy significantly contributes to green innovation efficiency of heavily polluted industries with a lag. Further study finds that green credit policy pushes heavily polluted industries to improve green innovation efficiency by increasing financing cost and R&D investment; meanwhile, the heterogeneity test shows that the higher the state-owned share of industry, the greater the promoted effect of green credit policy on green innovation efficiency of heavily polluted industries. Finally, in order to accelerate the implementation of green credit policy and promote the green innovation efficiency of heavily polluted industries, relevant countermeasures are proposed from three aspects: banks, enterprises and government.
ARTICLE | doi:10.20944/preprints202011.0635.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: Intellectual property protection; independent R&D investment; green technology innovation; masking effect; threshold effect
Online: 25 November 2020 (11:20:02 CET)
Due to the continuous trade friction between China and the United States, for domestic enterprises in China, the cost of importing foreign technologies is increasing. Thus, the independent research and development (R&D) becomes particularly important for the realization of green technology innovation (GTI). This paper establishes a non-linear mediating effect model based on the data of various regions in China from 2012 to 2018. The main results are shown in the following. Firstly, there is an inverted U-shaped relationship between the intensity of intellectual property protection (IPP) and the level of GTI. Furthermore, the independent R&D investment has a masking effect between them. Secondly, by taking the independent R&D investment as a threshold variable, we prove our findings. Considering that the intensity of IPP is at a high level in most regions of China, the above statements mean that the enterprises need to continuously increase their investment in R&D, in order to further improve the regional ability in GTI. Meanwhile, local governments should also stimulate enterprises' willingness to expand their scale in R&D by issuing incentive policies, such as R&D tax incentives and government subsidies.
ARTICLE | doi:10.20944/preprints202305.2130.v1
Subject: Social Sciences, Other Keywords: Companion animal; dog; cat; human-animal bond; Social Return on Investment; animal shelter; animal welfare
Online: 30 May 2023 (11:34:44 CEST)
Companion animals play a central role in many families and are especially valued by those who are socially isolated. Crisis situations such as acute hospitalizations, homelessness and natural disasters can make it difficult to preserve the human-animal bond and can result in animals being surrendered or euthanized. Social support programs like the RSPCA NSW Emergency Boarding and Homelessness program support people experiencing crisis situations with emergency pet boarding, access veterinary treatment and individualized case management. This study aimed to estimate the social return on investment (SROI) for this program using standard SROI methodology. In-depth interviews were conducted with 13 program stakeholders and questionnaire responses were received from 29 program clients. Outcomes were quantified for four stakeholder groups: program clients, client’s animals, RSPCA Inspectors, animal pounds and shelters. Clients and their animals experienced the bulk of the benefit from the program, estimated to have a combined value of over $5 million AUD for the 2020-21 financial year. The estimated social return on investment was $8.21 for each $1 invested. The study demonstrates that keeping people together with their companion animals, or ensuring they are reunited as soon as possible, can reduce stressors, and improve outcomes for people and animals.
ARTICLE | doi:10.20944/preprints202309.0955.v1
Subject: Engineering, Civil Engineering Keywords: construction industry; construction companies; investment and construction projects; sustainable activity; destabilizing factors; SEM-PLS; Smart PLS.
Online: 14 September 2023 (07:23:20 CEST)
Failure to meet the deadlines for the implementation of investment and construction projects is a problem in all countries of the world, and leads to unstable activity of construction companies. The article studies the most important destabilizing factors affecting the main indicator of sustainable activity of construction companies-the duration of the implementation of an investment and construction projects. To determine and assess the impact of destabilizing factors on the duration of implementation of selected investment and construction projects, a survey was conducted, in which a number of customers, consultants and contractors involved in construction projects took part. Questionnaires developed on the basis of a cluster sample were sent to respondents, 48 responses were received in response to the assessment of destabilizing factors. To analyze the received and grouped information, structural equation modeling using the Smart-PLS program was used. As a result of modeling, a number of results were obtained, the most important of which are the identification of the main reasons that lead to an average (20% - 50%) increase in the duration of projects in the construction sector. The most significant were: the lack of an appropriate procurement program for materials; inefficient scheduling by contractors and instability of construction production; poor-quality processing of incoming information and untimely deci-sion-making due to changes in projects during their implementation. Destabilizing factors con-tribute to an increase in the duration of construction sector projects, which leads to time overruns, cost overruns, and an increase in the negative impact on the overall use of resources. As a result of the study, a set of recommendations was formed, the most important of which is the use of possible compensatory measures that can allow construction companies to eliminate the risks of disrupting construction deadlines for sustainable activities. These compensatory measures include: - recommendations to customers of the construction project; - recommendations to contractors; - recommendations to the consultant. Moreover, the control of destabilizing factors that can cause delays, the improvement of contracts and the precise and clearer definition of all elements of the project can help to reduce the duration of construction, and will allow companies to maintain sustainable activities in the construction industry.
ARTICLE | doi:10.20944/preprints202307.1014.v1
Subject: Computer Science And Mathematics, Logic Keywords: investment management; multi-criteria decision making (MCDM); fuzzy number; fuzzy simple additive weighting; fuzzy group decision making
Online: 17 July 2023 (02:40:52 CEST)
Investment management is a common process and practice used for achieving a desirable investment goal or outcome. Investment assessment should be carried out at various stages of project realization in accordance with capital investment volume. Investment risk management implies the effective control of all procedures and monitoring of risks in all phases of the investment project. Because of the reason that a single indicator in probability calculation of achieving optimal return from the investment does not exist, performing sufficiently reliable estimates of the quality of investments becomes a tedious task. There are many indicators, factors, and criteria required for consideration to reach the effective solution of the investment problem. Unfortunately, the systematic variation of economic situations in the marketplace stipulates the continuous and frequent changes of investment conditions and environment in which the investor should act and operate. Hence, the rules required for providing a reasonable quality of investment projects can be based only on investor’s management strategy and rely on investor’s intuition and practice. The importance of classification in investment management and decision making process is undeniable. The objects to be classified are described using assessments in accordance with various criteria which can be both quantitative and qualitative. With a competent formulation of the investment process, both methods are used in parallel. There exist various decision making approaches for the investment management, and simple additive weighting (SAW) is one of the well-known multi-criteria decision making (MCDM) methods aiming to provide an optimal decision for decision maker when solving various real-life problems, and particularly, investment problem. In this paper, fuzzy simple additive weighting (FSAW) method in group decision making is applied to undertake the capital investment expenditure for purchasing cars with the purpose of renting them to the public. The development of existing FSAW method is accomplished and this process involves the sensibility of outcomes to changes in the rate of fuzziness represented with decisions taken. Eventually, the degree of fuzziness involved in an analysis that directly attempts to model the immanent vagueness and imperfectness in particular precedency judgments made, is determined. A numerical example illustrates the importance and effectiveness of the suggested approach with the aim of ranking alternatives and hence, determining the most preferred alternative in MCDM problem.
ARTICLE | doi:10.20944/preprints202205.0035.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: Financial Institutions and Services; General; Banks, Depository Institutions, Micro Finance Institutions, Mortgages; Investment Banking, Government Policy, and Regulation
Online: 5 May 2022 (11:14:25 CEST)
We have estimated the level of Risk Weighted Assets among 30 countries in Europe, in 30 trimesters, using data of the European Banking Authority-EBA of 139 variables. We perform an econometric model using Pooled OLS, Panel Data with Fixed Effects, Panel Data with Random Effects, Weighted Least Squares. We found that Risk Weighted Assets is negatively associated, among others, to the level of NFC loans in mining and quarrying, in public administration and defence, and in financial and insurance activities and positively associated, among others to distribution of NFC loans in human health services and social work activities, in education and the level of net fee and commission income. Furthermore, we apply a cluster analysis with the k-Means algorithm, and we find the presence of two clusters. A comparison was then made between eight different machine learning algorithms for predicting the value of the RWAs and we found that the best predictor is the linear regression. The RWA value is predicted to increase by 1.5%.
ARTICLE | doi:10.20944/preprints202110.0286.v1
Subject: Engineering, Civil Engineering Keywords: Urban resilience; Physical elements of a city; Indicator groups; Linear programming; Maximum resilience profit; Optimal investment; Opportunity costs
Online: 20 October 2021 (10:03:39 CEST)
This paper reviews the low-resilience problem in many cities, poor designs of cities to cope with disasters, and the need for tolerance of urban constructions. It explores answers concerning the question of how shall we build cities resiliently? The method of this applied research is a multiphase process that considers all physical and socioeconomic elements of a city. It introduces six indicator groups of urban management (M), economy (E), built environments (U), Infrastructures (I), natural environments (N), and health protection (H). The groups include 55 indicators as variables in the mathematical calculations in this paper. This paper builds a mathematical model to maximize the profitability of resilient buildings by optimizing investments in the required projects. The projects will upgrade the firmness and tolerance of cities against nature-based and human-made dangers and risks. There is a linear programming in 55 variables to select optimal solutions from fifty-five factorial alternatives. Then, the programming will develop into non-linear programming. The unique innovation of this paper is its linear programming interpretation by non-linear to give optimal solutions for the problem. Applying the Lagrange function in the Kuhn-Tucker conditions proves the accuracy of the hypothesis that post-COVID urbanization requires maximum resilience. Only in this way, the urban economies will be free of risks. Outcomes in this paper will assist in the pre-planning, design, and building of built environments everywhere resilient and sustainable.
ARTICLE | doi:10.20944/preprints202002.0401.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: Islamic accounting; mudarabah investment deposit; financial reporting of Islamic banks; profit equalization reserve; risk management for Islamic banks
Online: 27 February 2020 (11:22:54 CET)
The aim of this cross-country research is to examine how the profit and loss sharing mudarabah investment deposits are classified and disclosed in the financial statement of Islamic banks. The cross-country study examined the financial statements of fifty-one fully-fledged Islamic banks. The results of the data analysis show that Islamic banks disclose the mudarabah investment account in different ways. The absence of standardized disclosure for mudarabah investment deposit confuses the stakeholders. This research suggests to the regulators to fully or partially adopt the AAOIFI standards specifically for Islamic financial institutions.
ARTICLE | doi:10.20944/preprints201804.0261.v1
Subject: Business, Economics And Management, Business And Management Keywords: transnational oil investment, risk assessment, Fuzzy-Grey comprehensive evaluation, Delphi expert scoring system, risk factors, evaluation indicators system
Online: 20 April 2018 (09:11:15 CEST)
Oil has become the object of global exploits and fierce competition among the major world powers as it is a key strategic non-renewable resource. Transnational petroleum investment is therefore an important mechanism available to countries and international corporations to control oil resources even though there are numerous inherent uncertainties and risks. A new risk assessment index system is proposed in this paper based on use of the Delphi expert scoring system and fuzzy comprehensive evaluation that aims to minimize the potential risks inherent to multinational petroleum investment. This approach encapsulates political, legal, socioeconomic, and infrastructural factors to develop a technical method that can be used for transnational petroleum investment risk assessment. An evaluation of oil investment risk within a case study area is also presented; results provide reference data that can be applied by national and international oil companies to mitigate risks of transnational oil investment.
ARTICLE | doi:10.20944/preprints202011.0230.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: Poverty; Foreign direct investment inflows; Human capital; Trade openness; Export product diversification; Economic growth; Labour productivity; Financial development; Infrastructure development.
Online: 6 November 2020 (09:03:02 CET)
The present paper investigates the effect of poverty on foreign direct investment (FDI) inflows in developing countries. It complements the important extant literature on the effect of FDI inflows on poverty by examining the issue the other way around. The analysis is conducted using a sample of 117 countries over the period 1980-2017, and the two-step system Generalized Methods of Moments (GMM) technique. It has relied on two indicators of poverty, namely poverty headcount ratio and poverty gap. Findings indicate that over the full sample, poverty influences negatively FDI inflows, including through its adverse effect on human capital (that is, both education and health). Unsurprisingly, low-income countries (considered as poorest countries in the full sample) experience a higher negative effect of poverty on FDI inflows than other countries. On another note, participation in international trade matters for the effect of poverty on FDI inflows. In fact, an increase in poverty levels results in lower FDI inflows in countries that experience low workers' productivity, a less developed financial sector, and a low level of infrastructure development. Furthermore, the effect of poverty on FDI inflows does not depend on the prevailing economic growth rate. Finally, the analysis has revealed the existence of a non-linear effect of poverty on FDI inflows for the poverty headcount indicator, but not for the poverty gap indicator. The non-linear effect of poverty headcount on FDI inflows is such that a rise in poverty headcount ratio results in lower FDI inflows, but an additional increase in poverty more than further discourages FDI inflows. The conclusion discusses the implications of these findings.
ARTICLE | doi:10.20944/preprints202305.1467.v1
Subject: Business, Economics And Management, Finance Keywords: Economic Policy Uncertainty; Tobin's Q; Market Price Per Share; Investment in Intangible Assets; Fixed Assets; Financial Leverage; Cash Flow From Operations
Online: 22 May 2023 (05:35:13 CEST)
This study seeks to determine how economic policy uncertainty (EPU) influences investment decisions and the market value of the Pakistan Stock Exchange. The study examines investment and operational data from 249 energy and petroleum companies between 2015 and 2020, in addition to macroeconomic variables such as EPU. This study investigates the moderating effects of EPU on investments in fixed and intangible assets, as well as its effect on Tobin's Q and the market price per share. The outcomes demonstrate that EPU reduces the costs of both tangible and intangible assets for businesses. In addition, companies with a greater Tobin's Q and market price per share are more impacted by uncertain corporate investment policies. However, financial leverage is found to be negatively correlated with share price and positively correlated with earnings per share and earnings per unit. Tobin's Q is positively correlated with financial leverage, indicating that firms that raise capital through debt are more likely to create value for investors. The research indicates that market-dependent enterprises are more susceptible to the unpredictability of monetary policy. Eventually, the findings suggest that consistent and transparent economic policies may increase the efficiency of corporate investment.
REVIEW | doi:10.20944/preprints202009.0431.v1
Subject: Environmental And Earth Sciences, Sustainable Science And Technology Keywords: sustainability; Industry 4.0; automated content analysis; sustainable investment; corporate social responsibility; sustainable standards; sustainable reporting; smart manufacturing; renewable energy; cleaner production
Online: 18 September 2020 (11:11:47 CEST)
Background (1) In the time of the 4th Industrial Revolution or Industry 4.0, a conglomerate of technical and social inventions, political contexts, socio-cultural circumstances, environmental policies, business models, and economic policies has emerged. Sustainability policy in theory and practice aims to deal with the effects of all these factors and to try to make decisions that ensure both social and economic development sustainably. The question is how to familiarize oneself with the current knowledge about the relationship between Industry 4.0 and sustainability?; (2) Methods: This research utilizes an automated content analysis method to analyses scientific journals, newspapers and magazines. The comparison of results of both research group shows that the scientific literature focuses more on changes in business models, production processes and technologies that enable sustainable development; (3) We found that the scientific literature focuses more on changes in business models, production processes and technologies that enable sustainable development. Newspapers and magazines articles write more about sustainable or green investment, sustainable standards and sustainable reporting. Newspapers and magazines articles write more about sustainable or green investment, sustainable standards and sustainable reporting. Newspapers, as well as some latest research journals, include articles of the COVID-19 outbreak and its effect on the economy and the environment. Indeed, the outbreak of the virus brings a new thought to the reorganization of the complex relationships between consumers, businesses and the state; (4) Conclusions: According to the comparison of the analyses of the results, it can is that the analyses of both types of literature, both scientific and professional, shows that there are common topics they write about, which are related to the field of clean production, emissions, renewable energy, climate change, sustainable investments and corporate sustainability. An urgent global issue that extends all over the world is the promotion of energy-saving technologies and reduction of carbon dioxide emissions.
ARTICLE | doi:10.20944/preprints202307.1244.v1
Subject: Social Sciences, Law Keywords: policy exit; international law of climate action, law of the sea; international investment protection; linguistic entanglements in the law; off-shore wind energy
Online: 18 July 2023 (13:49:31 CEST)
The amendment or removal of superfluous government support policies is typically difficult, yet in the ever more important debate on low-carbon (i.e. clean) marine energy policy under the international law of climate action, the law of the sea, and international investment protection, there are additional dimensions of legal or economic peril. Coastal states enact policies subsidising clean energy investments, such as offshore wind energy generation, in their exclusive economic zones or continental shelves. Investors are attracted to the prospect that policies granting subsidies for ostensibly new industries are sufficiently durable. Are such subsidy policies salient or stale? In principle, the purpose of regulatory policy is the promotion of social welfare, and hence there is an optimal incidence, magnitude, and duration of the subsidy, in essence, an ideal strategy for starting, altering, or exiting such policy. We aim to introduce the concept of optimisation to the design and implementation of regulatory policy in this context. Our contribution is to offer three maxims of optimal clean marine energy law and policy: the efficiency and equity of alternative regulatory arrangements; the continuous optimisation of such arrangements; and the recognition of linguistic entanglements in the law. We test these maxims against the case of clean marine energy policy on offshore wind energy generation. One legal implication for international investment protection is that coastal states should establish a policy exit clause in their investment contracts. Our analysis of policy optimisation is generalisable across policies supporting the transition to sustainable energy forms.
ARTICLE | doi:10.20944/preprints202310.1134.v1
Subject: Engineering, Electrical And Electronic Engineering Keywords: carbon footprint; performance ratio; photovoltaic array system; PVsyst software; panel orienta-tion; levelized cost of electricity/energy (LCOE); payback period; return on investment (ROI); cost-effectiveness; project lifespan
Online: 18 October 2023 (08:12:42 CEST)
This study addresses the pressing energy constraints in nations like Bangladesh by proposing the implementation of photovoltaic (PV) microgrids. Given concerns about environmental degrada-tion, limited fossil fuel reserves, and volatile product costs, renewable energy sources are gaining momentum globally. Our research focuses on a grid-connected solar PV system model at Char Jazira, Lalpur, Natore, Rajshahi, Bangladesh. Through PVsyst simulation software, we assess the performance ratio (PR) and system losses, revealing an annual solar energy potential of 3375 MWh at Standard Test Condition (STC) efficiency. After considering losses, the system generates 2815 MWh annually, with 2774 MWh exported to the grid. We analyze an average PR of 78.63% and calculate a levelized cost of energy (LCOE) of 2.82 BDT/kWh [1 USD = 110 BDT]. The financial assessment indicates a cost-effective LCOE for the grid-connected PV system, with an annual gross income of 27744 BDT from selling energy to the grid and operating costs of 64060.60 BDT/year. Remarkably, this initiative can prevent 33074.061 tCO2 emissions over the project’s 25-year lifespan.