Search results for: investment efficiency

Authors: M. Feliciano, F. Rodrigues, A. Gonçalves, J. M. R. C. A. Santos, V. Leite

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With the objective of characterizing the profile and performance of energy use by slaughterhouses, surveys and audits were performed in two different facilities located in the northeastern region of Portugal. Energy consumption from multiple energy sources was assessed monthly, along with production and costs, for the same reference year. Gathered data was analyzed to identify and quantify the main consuming processes and to estimate energy efficiency indicators for benchmarking purposes. Main results show differences between the two slaughterhouses concerning energy sources, consumption by source and sector, and global energy efficiency. Electricity is the most used source in both slaughterhouses with a contribution of around 50%, being essentially used for meat processing and refrigeration. Natural gas, in slaughterhouse A, and pellets, in slaughterhouse B, used for heating water take the second place, with a mean contribution of about 45%. On average, a 62 kgoe/t specific energy consumption (SEC) was found, although with differences between slaughterhouses. A prominent negative correlation between SEC and carcass production was found specially in slaughterhouse A. Estimated Specific Energy Cost and Greenhouse Gases Intensity (GHGI) show mean values of about 50 €/t and 1.8 tCO2e/toe, respectively. Main results show that there is a significant margin for improving energy efficiency and therefore lowering costs in this type of non-energy intensive industries.

Keywords: meat industry, energy intensity, energy efficiency, GHG emissions

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Authors: Somtop Keawchuer

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This research aims to study (1) the relationship between competency-based learning and learning efficiency of new media communication students at Suan Sunandha University (2) the demographic factor effect on learning efficiency of students at Suan Sunandha University. This research method will use quantitative research; data was collected by questionnaires distributed to students from new media communication in management science faculty of Suan Sunandha Rajabhat University for 1340 sample by purposive sampling method. Data was analyzed by descriptive statistic including percentage, mean, standard deviation and inferential statistic including T-test, ANOVA and Pearson correlation for hypothesis testing. The results showed that the competency-based learning in term of ability to communicate, ability to think and solve the problem, life skills and ability to use technology has a significant relationship with learning efficiency in term of the cognitive domain, psychomotor domain and affective domain at the 0.05 level and which is in harmony with the research hypotheses.

Keywords: competency-based learning, learning efficiency, new media communication students, Suan Sunandha Rajabhat University

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Authors: A. Yakub AbdurRaheem

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Urban violence in the form of ethnic and religious conflicts have been on the increase in many African cities in the recent years of which most of them are the result of intense and bitter competition for political power, the control of limited economic, social and environmental resources. In Nigeria, the emergence of the Boko Haram insurgency in most parts of the northeastern parts have ignited violence, bloodshed, refugee exodus and internal migration. Not only do the persistent attacks of the sect create widespread insecurity and fear, but it has also stifled normal processes of trade and investments most especially real property investment which is acclaimed to accelerate the economic cycle, thus the need to evolve strategies for an improved property market in such areas. This paper, therefore, examines the impact of this social crisis on effective and efficient utilization of real properties as a resource towards the development of the economy, using a descriptive analysis approach where particular emphasis was based on trends in residential housing values; volume of estimated property transactions and real estate investment decisions by affected individuals. Findings indicate that social crisis in the affected areas have been a clog on the wheels of property development and investment as properties worth hundreds of millions have been destroyed thereby having great impact on property values. Based on these findings, recommendations were made to include the need to strategically continue investing in property during such times, the need for Nigerian government to establish an active conflict monitoring and management unit for the prompt response, encourage community and neighborhood policing to ameliorate security challenges in Nigeria.

Keywords: social crisis, economy, resources, property market

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Authors: Lin Dong, Fei Shi

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Based on the railway network and the principles of space syntax, the study attempts to reconstruct the spatial relationship of the passenger network connections from space and time perspective. According to the travel time data of main stations in the Yangtze River Delta urban agglomeration obtained by the Internet, the topological drawing of railway network under different time sections is constructed. With the comprehensive index composed of connection and integration, the accessibility and network operation efficiency of the railway network in different time periods is calculated, while the fairness of the network is analyzed by the fairness indicators constructed with the integration and location entropy from the perspective of horizontal and vertical fairness respectively. From the analysis of the efficiency and fairness of the railway passenger transport network, the study finds: (1) There is a strong regularity in regional system accessibility change; (2) The problems of efficiency and fairness are different in different time periods; (3) The improvement of efficiency will lead to the decline of horizontal fairness to a certain extent, while from the perspective of vertical fairness, the supply-demand situation has changed smoothly with time; (4) The network connection efficiency of Shanghai, Jiangsu and Zhejiang regions is higher than that of the western regions such as Anqing and Chizhou; (5) The marginalization of Nantong, Yancheng, Yangzhou, Taizhou is obvious. The study explores the application of spatial syntactic theory in regional traffic analysis, in order to provide a reference for the development of urban agglomeration transportation network.

Keywords: spatial syntax, the Yangtze River Delta, railway passenger time, efficiency and fairness

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Authors: Gizem İntepe, Eti Mizrahi

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Investment and financing decisions are influenced by various economic features. Detailed analysis should be conducted in order to make decisions not only by companies but also by governments. Such analysis can be conducted either at the company level or on a sectoral basis to reduce risks and to maximize profits. Sectoral disaggregation caused by seasonality effects, subventions, data advantages or disadvantages may appear in sectors behaving parallel to BIST (Borsa Istanbul stock exchange) Index. Proposed logistic indices could serve market needs as a decision parameter in sectoral basis and also helps forecasting activities in import export volume changes. Also it is an indicator of logistic activity, which is also a sign of economic mobility at the national level. Publicly available data from “Ministry of Transport, Maritime Affairs and Communications” and “Turkish Statistical Institute” is utilized to obtain five logistics indices namely as; exLogistic, imLogistic, fLogistic, dLogistic and cLogistic index. Then, efficiency and reliability of these indices are tested.

Keywords: economic activity, export trade data, import trade data, logistics indices

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Authors: Carla Silva

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Recent development of information and communication technology enables us to acquire, collect, analyse data in various fields of socioeconomic – technological systems. Along with the increase of economic globalization and the evolution of information technology, data mining has become an important approach for economic data analysis. As a result, there has been a critical need for automated approaches to effective and efficient usage of massive amount of educational data, in order to support institutions to a strategic planning and investment decision-making. In this article, we will address data from several different perspectives and define the applied data to sciences. Many believe that 'big data' will transform business, government, and other aspects of the economy. We discuss how new data may impact educational policy and educational research. Large scale administrative data sets and proprietary private sector data can greatly improve the way we measure, track, and describe educational activity and educational impact. We also consider whether the big data predictive modeling tools that have emerged in statistics and computer science may prove useful in educational and furthermore in economics. Finally, we highlight a number of challenges and opportunities for future research.

Keywords: data mining, research analysis, investment decision-making, educational research

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Authors: Zheng Ruoyuan

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With the rapid development of economic globalization and increasingly fierce international competition, multinational companies have carried out investment strategy shifts and innovations, and actively promoted localization strategies. Localization strategies have become the main trend in the development of multinational companies. Large-scale entry of multinational companies China has a history of more than 20 years. With the sustained and steady growth of China's economy and the optimization of the investment environment, multinational companies' investment in China has expanded rapidly, which has also had an important impact on the Chinese economy: promoting employment, foreign exchange reserves, and improving the system. etc., has brought a lot of high-tech and advanced management experience; but it has also brought challenges and survival pressure to China's local enterprises. In recent years, multinational companies have gradually regarded China as an important part of their global strategies and began to invest in China. Actively promote localization strategies, including production, marketing, scientific research and development, etc. Many multinational companies have achieved good results in localized operations in China. Not only have their benefits continued to improve, but they have also established a good corporate image and brand in China. image, which has greatly improved their competitiveness in the international market. However, there are also some multinational companies that have difficulties in localized operations in China. This article will closely follow the background of economic globalization and comprehensively use the theory of multinational companies and strategic management theory and business management theory, using data and facts as the entry point, combined with typical cases of representative significance for analysis, to conduct a systematic study of the localized operations of multinational companies in China. At the same time, for each specific link of the operation of multinational companies, we provide multinational enterprises with some inspirations and references.

Keywords: localization, business management, multinational, marketing

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Authors: C. E. Ogbanje, S. A. N. D. Chidebelu, N. J. Nweze

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The study evaluated off-farm work and cost efficiency in staple food production among small-scale farmers in North Central Nigeria. Multistage sampling technique was used to select 360 respondents (participants and non-participants in off-farm work). Primary data obtained were analysed using stochastic cost frontier and test of means’ difference. Capital input was lower for participants (N2,596.58) than non-participants (N11,099.14). Gamma (γ) was statistically significant. Farm size significantly (p<0.01) increased cost outlay for participants and non-participants. Average input prices of enterprises one and two significantly (p<0.01) increased cost. Sex, household size, credit obtained, formal education, farming experience, and farm income significantly (p<0.05) reduced cost inefficiency for non-participants. Average cost efficiency was 11%. Farm capital was wasted. Participants’ substitution of capital for labour did not put them at a disadvantage. Extension agents should encourage farmers to obtain financial relief from off-farm work but not to the extent of endangering farm cost efficiency.

Keywords: cost efficiency, mean difference, North Central Nigeria, off-farm work, participants and non-participants, small-scale farmers

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Authors: Elena Puica

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This paper aims to investigate the impact of Supply Chain Management (SCM) on the environment by applying a Machine Learning model while pointing out the efficiency of the technology used. The Machine Learning model was used to derive the efficiency and optimization of technology used in SCM and the environmental impact of SCM processes. The model applied is a predictive classification model and was trained firstly to determine which stage of the SCM has more outputs and secondly to demonstrate the efficiency of using advanced technology in SCM instead of recuring to traditional SCM. The outputs are the emissions generated in the environment, the consumption from different steps in the life cycle, the resulting pollutants/wastes emitted, and all the releases to air, land, and water. This manuscript presents an innovative approach to applying advanced technology in SCM and simultaneously studies the efficiency of technology and the SCM's impact on the environment. Identifying the conceptual relationships between SCM practices and their impact on the environment is a new contribution to the research. The authors can take a forward step in developing recent studies in SCM and its effects on the environment by applying technology.

Keywords: machine-learning model in SCM, SCM processes, SCM and the environmental impact, technology in SCM

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Authors: Dharminer Singh, Sanjeev Yadav, Pravakar Mohanty

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In this work, gasification of groundnut shell was carried out in an air bubbling fluidized bed gasifier. Atmospheric air used as gasification agent in the gasifier. The groundnut shell used for gasification was in powder form and the locally available river sand was used as bed material. Conventional charcoal was used for heating sand bed. Two cyclones were used for proper segregation of char particles and for proper cleaning and cooling the product gas. Experiments were performed on different equivalence ratio (ER) 0.3 - 0.33 by varying feeding rate 36 - 32.8 kg/h of biomass and by keeping the air flow rate constant at bed temperature between 700 °C – 800 °C. Performance of gasifier was evaluated on the basis of different parameters such as cold gas efficiency, carbon conversion efficiency (CCE), Tar and Suspended particles matter (SPM) generation, gas yield, and Higher heating value (HHV) of gas. The optimal ER value for gasification of groundnut shell (GNS) powder in an air bubbling fluidized bed gasifier was found to be 0.31. Cold gas efficiency and CCE value at optimal ER was found to be 63.7 %, and 91 %, respectively. Concentration of Tar and SPM, HHV of gas, and gas yield at optimal ER was found to be 11.88 g/Nm3, 2.38 MJ/Nm3, and 2.01m3/kg, respectively. In the product gas, concentrations of CO, CO2, CH4 and H2 were found to be 12.94%, 13.5%, 5.74% and 13.77%, respectively. At ER 0.31, it was observed that bed temperature of gasifier was in steady state for long time at 714 °C with 5 – 10 °C fluctuation.

Keywords: air bubbling fluidized bed gasifier, groundnut shell powder, equivalence ratio (ER), cold gas efficiency, carbon conversion efficiency (CCE), high heating value (HHV)

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Authors: A. Bouloufa, F. Khaled, K. Djessas

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This paper presents a new structure of solar cell based on p-type microcrystalline silicon as an absorber and n-type aluminum doped zinc oxide (ZnO:Al) transparent conductive oxide as an optical window. The ZnO:Al layer deposited by rf-magnetron sputtering at room temperature yields a low resistivity about 7,64.10-2Ω.cm and more than 85% mean optical transmittance in the VIS–NIR range, with an optical band gap of 3.3 eV. These excellent optical properties of this layer in combination with an optimal contact at the front surface result in a superior light trapping yielding to efficiencies about 20%. In order to improve efficiency, we have used a p+-µc-Si thin layer highly doped as a back surface field which minimizes significantly the impact of rear surface recombination velocity on voltage and current leading to a high efficiency of 24%. Optoelectronic parameters were determined using the current density-voltage (J-V) curve by means of a numerical simulation with Analysis of Microelectronic and Photonic Structures (AMPS-1D) device simulator.

Keywords: optical window, thin film, solar cell, efficiency

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Authors: M. Baldini, H. K. Jacobsen, M. Jaccard

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In light of the international efforts to comply with the Paris agreement and emission targets for future energy systems, Denmark and Canada are among the front-runner countries dealing with climate change. The experiences in the energy sector have seen both countries coping with trade-offs between investments in renewable energy technologies and energy efficiency, thus tackling the climate issue from the supply and demand side respectively. On the demand side, the industrial sector is going through a remarkable transformation, with implementation of energy efficiency measures, change of input fuel for end-use processes and forecasted electrification as main features under the spotlight. By looking at Canada and Denmark's experiences as pathfinders on the demand and supply approach to climate change, it is possible to obtain valuable experience that may be applied to other countries aiming at the same goal. This paper presents a comparative study on industrial energy efficiency between Canada and Denmark. The study focuses on technologies and system options, policy design and implementation and modelling methodologies when implementing industrial energy savings in optimization models in comparison to simulation models. The study identifies gaps and junctures in the approach towards climate change actions and, learning from each other, lessen the differences to further foster the adoption of energy efficiency measurements in the industrial sector, aiming at reducing energy consumption and, consequently, CO₂ emissions.

Keywords: industrial energy efficiency, comparative study, CO₂ reduction, energy system modelling

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Authors: Elaid Bouchetob, Bouchra Nadji

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This research paper compares the efficiency and reliability (R(t)) of SiC-based and Si-based DC-DC buck converters in thin layer PV systems with an AI-based MPPT controller. Using Simplorer/Simulink simulations, the study assesses their performance under varying conditions. Results show that the SiC-based converter outperforms the Si-based one in efficiency and cost-effectiveness, especially in high temperature and low irradiance conditions. It also exhibits superior reliability, particularly at high temperature and voltage. Reliability calculation (R(t)) is analyzed to assess system performance over time. The SiC-based converter demonstrates better reliability, considering factors like component failure rates and system lifetime. The research focuses on the buck converter's role in charging a Lithium battery within the PV system. By combining the SiC-based converter and AI-based MPPT controller, higher charging efficiency, improved reliability, and cost-effectiveness are achieved. The SiC-based converter proves superior under challenging conditions, emphasizing its potential for optimizing PV system charging. These findings contribute insights into the efficiency, reliability, and reliability calculation of SiC-based and Si-based converters in PV systems. SiC technology's advantages, coupled with advanced control strategies, promote efficient and sustainable energy storage using Lithium batteries. The research supports PV system design and optimization for reliable renewable energy utilization.

Keywords: efficiency, reliability, artificial intelligence, sic device, thin layer, buck converter

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Authors: Abdulkarim Yusuf

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Motivation: The Nigerian economy has seen significant macroeconomic instability, fuelled mostly by an overreliance on fluctuating oil revenues. The rising disparity between tax receipts and government spending in Nigeria necessitates government borrowing to fund the anticipated pace of economic growth. Rising public debt and fiscal sustainability are limiting the government's ability to invest in key infrastructure that promotes private investment and growth in Nigeria. Objective: This paper fills an empirical research vacuum by examining the impact of public debt on fiscal sustainability in Nigeria, given the significance of fiscal stability in decreasing poverty and the constraints that an unsustainable debt burden imposes on it. Data and method: Annual time series data covering the period 1980 to 2022 exposed to conventional and structural breaks stationarity tests and the Autoregressive Distributed Lag estimation approach were adopted for this study. Results: The results reveal that domestic debt stock, debt service payment, foreign reserve stock, exchange rate, and private investment all had a major adverse effect on fiscal stability in the long and short run, corroborating the debt overhang and crowding-out hypothesis. External debt stock, prime lending rate, and degree of trade openness, which boosted fiscal stability in the long run, had a major detrimental effect on fiscal stability in the short run, whereas foreign direct investment inflows had an important beneficial impact on fiscal stability in both the long and short run. Implications: The results indicate that fiscal measures that inspire domestic resource mobilization, sustainable debt management techniques, and dependence on external debt to boost deficit financing will improve fiscal stability and drive growth.

Keywords: ARDL co-integration, debt overhang, debt servicing, fiscal stability, public debt

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Authors: Gaurav Gupta, Jitendra Mahakud

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This study focuses on the significance of internal financing constraints on the determination of corporate fixed investments in the case of Indian manufacturing companies. Financing constraints companies which have less internal fund or retained earnings face more transaction and borrowing costs due to imperfections in the capital market. The period of study is 1999-2000 to 2013-2014 and we consider 618 manufacturing companies for which the continuous data is available throughout the study period. The data is collected from PROWESS data base maintained by Centre for Monitoring Indian Economy Pvt. Ltd. Panel data methods like fixed effect and random effect methods are used for the analysis. The Likelihood Ratio test, Lagrange Multiplier test, and Hausman test results conclude the suitability of the fixed effect model for the estimation. The cash flow and liquidity of the company have been used as the proxies for the internal financial constraints. In accordance with various theories of corporate investments, we consider other firm specific variable like firm age, firm size, profitability, sales and leverage as the control variables in the model. From the econometric analysis, we find internal cash flow and liquidity have the significant and positive impact on the corporate investments. The variables like cost of capital, sales growth and growth opportunities are found to be significantly determining the corporate investments in India, which is consistent with the neoclassical, accelerator and Tobin’s q theory of corporate investment. To check the robustness of results, we divided the sample on the basis of cash flow and liquidity. Firms having cash flow greater than zero are put under one group, and firms with cash flow less than zero are put under another group. Also, the firms are divided on the basis of liquidity following the same approach. We find that the results are robust to both types of companies having positive and negative cash flow and liquidity. The results for other variables are also in the same line as we find for the whole sample. These findings confirm that internal financing constraints play a significant role for determination of corporate investment in India. The findings of this study have the implications for the corporate managers to focus on the projects having higher expected cash inflows to avoid the financing constraints. Apart from that, they should also maintain adequate liquidity to minimize the external financing costs.

Keywords: cash flow, corporate investment, financing constraints, panel data method

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Authors: Warjito, Kevin Geraldo, Budiarso, Muhammad Mizan, Rafi Adhi Pranata, Farhan Rizqi Syahnakri

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According to data from 2021, the number of households in Indonesia that have access to on-grid electricity is claimed to have reached 99.28%, which means that around 0.7% of Indonesia's population (1.95 million people) still have no proper access to electricity and 38.1% of it comes from remote areas in Nusa Tenggara Timur. Remote areas are classified as areas with a small population of 30 to 60 families, have limited infrastructure, have scarce access to electricity and clean water, have a relatively weak economy, are behind in access to technological innovation, and earn a living mostly as farmers or fishermen. These people still need electricity but can’t afford the high cost of electricity from national on-grid sources. To overcome this, it is proposed that a hydroelectric power plant driven by a pico-hydro turbine with an undershot water wheel will be a suitable pico-hydro turbine technology because of the design, materials and installation of the turbine that is believed to be easier (i.e., operational and maintenance) and cheaper (i.e., investment and operating costs) than any other type. The comparative study of the angle of the undershot water wheel blades will be discussed comprehensively. This study will look into the best variation of curved blades on an undershot water wheel that produces maximum hydraulic efficiency. In this study, the blade angles were varied by 180 ̊, 160 ̊, and 140 ̊. Two methods of analysis will be used, which are analytical and numerical methods. The analytical method will be based on calculations of the amount of torque and rotational speed of the turbine, which is used to obtain the input and output power of the turbine. Whereas the numerical method will use the ANSYS application to simulate the flow during the collision with the designed turbine blades. It can be concluded, based on the analytical and numerical methods, that the best angle for the blade is 140 ̊, with an efficiency of 43.52% for the analytical method and 37.15% for the numerical method.

Keywords: pico hydro, undershot waterwheel, blade angle, computational fluid dynamics

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Authors: Abdulhameed Babatunde Owolabi, Benyoh Emmanuel Kigha Nsafon, Jeung-Soo Huh

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Energy efficiency measures for residential buildings in South Korea is a national issue because most of the apartments built in the last decades were constructed without proper energy efficiency measures making the energy performance of old buildings to be very poor when compared with new buildings. However, the adoption of advanced building technologies and regulatory building codes are effective energy efficiency strategies for new construction. There is a need to retrofits the existing building using energy conservation measures (ECMs) equipment’s in order to conserve energy and reduce GHGs emissions. To achieve this, the Institute for Global Climate Change and Energy (IGCCE), Kyungpook National University (KNU), Daegu, South Korea employed RETScreen Expert software to carry out measurement and verification (M&V) analysis on an existing building in Korea by using six years gas consumption data collected from Daesung Energy Co., Ltd in order to determine the building energy performance after the introduction of ECM. Through the M&V, energy efficiency is attained, and the resident doubt was reduced. From the analysis, a total of 657 Giga Joules (GJ) of liquefied natural gas (LNG) was consumed at the rate of 0.34 GJ/day having a peak in the year 2015, which cost the occupant the sum of $10,821.

Keywords: energy efficiency, measurement and verification, performance analysis, RETScreen experts

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Authors: Razan Salem

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Men and women have different approaches towards investing, both in terms of strategies and risk attitudes. This study aims to focus mainly on investigating the financial risk behaviors of Arab women investors and to examine the financial risk tolerance levels of Arab women relative to Arab men investors. Using survey data on 547 Arab men and women investors, the results of Wilcoxon Signed-Rank (One-Sample) test Mann-Whitney U test reveal that Arab women are risk-averse investors and have lower financial risk tolerance levels relative to Arab men. Such findings can be explained by the fact of women's nature and lower investment literacy levels. Further, the current political uncertainty in the Arab region may be considered as another explanation of Arab women’s risk aversion behavior. The study's findings support the existing literature by validating the stereotype of “women are more risk-averse than men” in the Arab region. Overall, when it comes to investment and financial behaviors, women around the world behave similarly.

Keywords: Arab region, culture, financial risk behavior, gender differences, women investors

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Authors: Liwiusz Wojciechowski

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Research background: The current knowledge does not give a clear answer to the question of the impact of FDI on productivity. Results of the empirical studies are still inconclusive, no matter how extensive and diverse in terms of research approaches or groups of countries analyzed they are. It should also take into account the possibility that FDI and productivity are linked and that there is a bidirectional relationship between them. This issue is particularly important because on one hand FDI can contribute to changes in productivity in the host country, but on the other hand its level and dynamics may imply that FDI should be undertaken in a given country. As already mentioned, a two-way relationship between the presence of foreign capital and productivity in the host country should be assumed, taking into consideration the endogenous nature of FDI. Purpose of the article: The overall objective of this study is to determine the causality between foreign direct investment and total factor productivity in host county in terms of different relative absorptive capacity across countries. In the classic sense causality among variables is not always obvious and requires for testing, which would facilitate proper specification of FDI models. The aim of this article is to study endogeneity of selected macroeconomic variables commonly being used in FDI models in case of Visegrad countries: main recipients of FDI in CEE. The findings may be helpful in determining the structure of the actual relationship between variables, in appropriate models estimation and in forecasting as well as economic policymaking. Methodology/methods: Panel and time-series data techniques including GMM estimator, VEC models and causality tests were utilized in this study. Findings & Value added: The obtained results allow to confirm the hypothesis states the bi-directional causality between FDI and total factor productivity. Although results differ from among countries and data level of aggregation implications may be useful for policymakers in case of providing foreign capital attracting policy.

Keywords: endogeneity, foreign direct investment, multi-equation models, total factor productivity

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Authors: Enas R. Shouman

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Economic development with population growth is leading to a continuous increase in energy demand. At the same time, growing global concern for the environment is driving to decrease the use of conventional energy sources and to increase the use of renewable energy sources. The objective of this study is to present the market trends of solar energy photovoltaic technology over the world and to represent economics methods for PV financial analyzes on the basis of expectations for the expansion of PV in many applications. In the course of this study, detailed information about the current PV market was gathered and analyzed to find factors influencing the penetration of PV energy. The paper methodology depended on five relevant economic financial analysis methods that are often used for investment decisions maker. These methods are payback analysis, net benefit analysis, saving-to-investment ratio, adjusted internal rate of return, and life-cycle cost. The results of this study may be considered as a marketing guide that helps diffusion of using PV Energy. The study showed that PV cost is economically reliable. The consumers will pay higher purchase prices for PV system installation but will get lower electricity bill.

Keywords: photovoltaic, financial methods, solar energy, economics, PV panel

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Authors: Veena Chaudhary, Rakesh P. Gakkhar

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In this study, energy and exergy analysis are applied to the experimental data of an internal combustion engine operating on conventional diesel cycle. The experimental data are collected using an engine unit which enables accurate measurements of fuel flow rate, combustion air flow rate, engine load, engine speed and all relevant temperatures. First and second law efficiencies are calculated for different engine speed and compared. Results indicate that the first law (energy) efficiency is maximum at 1700 rpm whereas exergy efficiency is maximum and exergy destruction is minimum at 1900 rpm.

Keywords: diesel engine, exergy destruction, exergy efficiency, second law of thermodynamics

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Authors: Rusudan Kinkladze, Guguli Kurashvili, Ketevan Chitaladze

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Foreign direct investment is a driving force in the development of the interdependent national economies, and the study and analysis of investments is an urgent problem. It is particularly important for transitional economies, such as Georgia, and the study and analysis of investments is an urgent problem. Consequently, the goal of the research is the study and analysis of direct foreign investments in Georgia, and identification and forecasting of modern trends, and covers the period of 2006-2015. The study uses the methods of statistical observation, grouping and analysis, the methods of analytical indicators of time series, trend identification and the predicted values are calculated, as well as various literary and Internet sources relevant to the research. The findings showed that modern investment policy In Georgia is favorable for domestic as well as foreign investors. Georgia is still a net importer of investments. In 2015, the top 10 investing countries was led by Azerbaijan, United Kingdom and Netherlands, and the largest share of FDIs were allocated in the transport and communication sector; the financial sector was the second, followed by the health and social work sector, and the same trend will continue in the future. 

Keywords: foreign direct investments, methods, statistics, analysis

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Authors: Corina E. Niculaescu, Ivan Sangiorgi, Adrian R. Bell

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The COVID-19 pandemic has been life-changing in many aspects of people’s daily and social lives, but has it also changed attitudes towards investments? This paper explores the effect of the COVID-19 pandemic on retail investors’ levels of investments in the U.S. during the first COVID-19 wave in summer 2020. This is an unprecedented health crisis, which could lead to changes in investment behavior, including irrational behavior in retail investors. As such, this study aims to inform policymakers of what happened to investment decisions during the COVID-19 pandemic so that they can protect retail investors during extreme events like a global health crisis. The study aims to answer two research questions. First, was the level of investments affected by the COVID-19 pandemic, and if so, why? Second, how were investments affected by retail investors’ personal experience with COVID-19? The research analysis is based on primary survey data collected on the Amazon Mechanical Turk platform from a representative sample of U.S. respondents. Responses were collected between the 15th of July and 28th of August 2020 from 1,148 U.S. retail investors who hold mutual fund investments and a savings account. The research explores whether being affected by COVID-19, change in the level of savings, and risk capacity can explain the change in the level of investments by using regression analysis. The dependent variable is changed in investments measured as decrease, no change, and increase. For this reason, the methodology used is ordered probit regression models. The results show that retail investors in the U.S. increased their investments during the first wave of COVID-19, which is unexpected as investors are usually more cautious in crisis times. Moreover, the study finds that those who were affected personally by COVID-19 (e.g., tested positive) were more likely to increase their investments, which is irrational behavior and contradicts expectations. An increase in the level of savings and risk capacity was also associated with increased investments. Overall, the findings show that having personal experience with a health crisis can have an impact on one’s investment decisions as well. Those findings are important for both retail investors and policymakers, especially now that online trading platforms have made trading easily accessible to everyone. There are risks and potential irrational behaviors associated with investment decisions during times of crisis, and it is important that retail investors are aware of them before making financial decisions.

Keywords: COVID-19, financial decision-making, health crisis retail investors, survey

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Authors: M. A. Spielmann, L. Schebek

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In order to reach the long-term national climate goals of the German government for the building sector, substantial energetic measures have to be executed. Historically, those measures were primarily energetic efficiency measures at the buildings’ shells. Advanced technologies for the on-site generation of heat (or other types of energy) often are not feasible at this small spatial scale of a single building. Therefore, the present approach uses the spatially larger dimension of a quarter. The main focus of the present paper is the long-term economic-ecological assessment of available decentralized heat-generating (CHP power plants and electrical heat pumps) technologies at the quarter level for the German unrefurbished residential buildings. Three distinct terms have to be described methodologically: i) Quarter approach, ii) Economic assessment, iii) Ecological assessment. The quarter approach is used to enable synergies and scaling effects over a single-building. For the present study, generic quarters that are differentiated according to significant parameters concerning their heat demand are used. The core differentiation of those quarters is made by the construction time period of the buildings. The economic assessment as the second crucial parameter is executed with the following structure: Full costs are quantized for each technology combination and quarter. The investment costs are analyzed on an annual basis and are modeled with the acquisition of debt. Annuity loans are assumed. Consequently, for each generic quarter, an optimal technology combination for decentralized heat generation is provided in each year of the temporal boundaries (2016-2050). The ecological assessment elaborates for each technology combination and each quarter a Life Cycle assessment. The measured impact category hereby is GWP 100. The technology combinations for heat production can be therefore compared against each other concerning their long-term climatic impacts. Core results of the approach can be differentiated to an economic and ecological dimension. With an annual resolution, the investment and running costs of different energetic technology combinations are quantified. For each quarter an optimal technology combination for local heat supply and/or energetic refurbishment of the buildings within the quarter is provided. Coherently to the economic assessment, the climatic impacts of the technology combinations are quantized and compared against each other.

Keywords: building sector, economic-ecological assessment, heat, LCA, quarter level

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Authors: Simon Huston, Ebraheim Lahbash, Ali Parsa

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The development of the United Arab Emirates (UAE) into a regional trade, tourism, finance and logistics hub has transformed its real estate markets. However, speculative activity and price volatility remain concerns. UAE residential market values (MV) are exposed to fluctuations in capital flows and migration which in turn are affected by geopolitical uncertainty, oil price volatility, and global investment market sentiment. Internally, a complex interplay between administrative boundaries, land tenure, building quality and evolving location characteristics fragments UAE residential property markets. In short, the UAE Residential Valuation System (UAE-RVS) confronts multiple challenges to collect, filter and analyze relevant information in complex and dynamic spatial and capital markets. A robust (RVS) can mitigate the risk of unhelpful volatility, speculative excess or investment mistakes. The research outlines the institutional, ontological, dynamic, and epistemological issues at play. We highlight the importance of system capabilities, valuation standard salience and stakeholders trust.

Keywords: valuation, property rights, information, institutions, trust, salience

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Authors: Sergey Podluzhnyy

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One of the most important tasks of investment and pension fund management is building decision support system which helps to make right decision on corporate bond portfolio formation. Today there are several basic methods of bond portfolio management. They are duration management, immunization and convexity management. Identified methods have serious disadvantage: they do not take into account credit risk or insolvency risk of issuer. So, identified methods can be applied only for management and evaluation of high-quality sovereign bonds. Applying article proposes mathematical model for building an optimal in case of risk and yield corporate bond portfolio. Proposed model takes into account the default probability in formula of assessment of bonds which results to more correct evaluation of bonds prices. Moreover, applied model provides tools for visualization of the efficient frontier of corporate bonds portfolio taking into account the exposure to credit risk, which will increase the quality of the investment decisions of portfolio managers.

Keywords: corporate bond portfolio, default probability, effective boundary, portfolio optimization task

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Authors: So-Jeong Kim, Nak-Kwan Chung, Jintae Kim, Juyoung Yun

Abstract:

The metal nanoplates are potentially used for electroluminescence enhancement of OLEDs owing to the localized surface plasmon resonance. In our study, enhanced electroluminescence in blue organic light-emitting diodes is demonstrated by incorporating silver nanoplates into poly(3,4-ethylene dioxythiophene):polystyrene sulfonic acid. To have surface plasmon resonance absorption peak matching with photoluminescent (PL) peak of blue, Ag nanoplates with triangular shape are used in this study. Finally, about 30 % enhancement in electroluminescence intensity and current efficiency for blue emission devices is obtained via Ag nanoplates.

Keywords: efficiency enhancement, nanoplate, OLED, surface plasmon resonance

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Authors: Ahmed Bellakhdhar

Abstract:

This paper aims to test the impact of various variables-namely, investment in physical capital, investment in human capital, openness to trade and foreign direct investments, and distance from the technology frontier-on economic growth in the Tunisian context during the period 1976-2010. Empirical results identify that the impact of human capital is significantly positive. This finding confirms the hypothesis that human capital is a main driver of economic performance through its role of improving the internal productive capacity and the absorption of foreign technology especially via foreign direct investments. The effect of FDI is significantly positive in all alternative regressions and the coefficient associated to physical capital variable is positive, but not significant overall. Concerning the import of technologically advanced equipments, our estimates show the absence of a significant direct impact on economic growth in Tunisia. Our empirical results also support the assumption of a non linear relationship between tax and growth and demonstrate the existence of an inverted-U curve between the two variables, in the spirit of the “Laffer curve”.

Keywords: Endogenous growth, Human capital, Technology transfer, Absorptive capacity

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Authors: Antonio Piga

Abstract:

The study of language strategies in financial and corporate discourse has always been vital for understanding how companies manage to communicate effectively with a wider customer base and offers new perspectives on how companies interact with key stakeholders, not only to convey transparency and an image of trustworthiness, but also to create affiliation and attract investment. In the light of Systemic Functional Linguistics, the purpose of this study is to examine and analyse the annual reports of Asian and Western joint-stock companies involved in oil refining and power generation from the point of view of the functions and frequency of grammatical metaphors. More specifically, grammatical metaphor - through the lens of Critical Discourse Analysis (CDA) - is used as a theoretical tool for analysing a synchronic cross-cultural study of the communicative strategies adopted by Asian and Western companies to communicate social and environmental sustainability and showcase their ethical values, performance and competitiveness to local and global communities and key stakeholders. According to Systemic Functional Linguistics, grammatical metaphor can be divided into two broad areas: ideational and interpersonal. This study focuses on the first type, ideational grammatical metaphor (IGM), which includes de-adjectival and de-verbal nominalisation. The dominant and more effective grammatical tropes used by Asian and Western corporations in their annual reports were examined from both a qualitative and quantitative perspective. The aim was to categorise and explain how ideational grammatical metaphor is constructed cross-culturally and presented through structural language patterns involving re-mapping between semantics and lexico-grammatical features. The results show that although there seem to be more differences than similarities in terms of the categorisation of the ideational grammatical metaphors conceptualised in the two case studies analysed, there are more similarities than differences in terms of the occurrence, the congruence of process types and the role and function of IGM. Through the immediacy and essentialism of compacting and condensing information, IGM seems to be an important linguistic strategy adopted in the rhetoric of corporate annual reports, contributing to the ideologies and actions of companies to report and promote efficiency, profit and social and environmental sustainability, thus advocating the engagement and investment of key stakeholders.

Keywords: corporate annual reports, cross-cultural perspective, ideational grammatical metaphor, rhetoric, systemic functional linguistics

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Authors: Mohamed Edesy, Carlo Cecere

Abstract:

This paper is a part of an ongoing research that proposes energy strategies for residential buildings in hot arid climates. In Egypt, the residential sector is dominated by increase in consumption rates annually. A building energy efficiency code was introduced by the government in 2005; it indicates minimum design and application requirements for residential buildings. Submission is mandatory and should lead to about 20% energy savings with an increase in comfort levels. However, compliance is almost nonexistent, electricity is subsidized and incentives to adopt energy efficient patterns are very low. This work presents an overview of the code and analyzes the impact of its introduction on different sectors. It analyses compliance barriers and indicates challenges that stand in the way of a realistic enforcement. It proposes an action plan for immediate code enforcement, updating current code to include retrofit, and development of rating systems for buildings. This work presents a broad national plan for energy efficiency empowerment in the residential sector.

Keywords: energy efficiency, housing, energy policies, code enforcement

Procedia PDF Downloads 316