Search results for: investments criteria

Authors: Esra Cebeci

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As a result of acceleration of globalization in the 21st century economic boundaries are removed. With liberalization of capital and foreign trade, not only developed countries but also developing countries get into rapid growth efforts. In developing countries, one of the most important problem is insufficient capital accumulation. For reduce this deficit, one of the general approaches that is offered increasing amount of foreign direct investments. Also, in developing countries saving rates are low. So, foreign direct investments make possible an increase for domestic savings. In this regard, the multinational corporations are capable of these investments have importance. By providing micro-macro effects for countries, demand for these firms are many. These effects in general positive, some negative effects may able to come into being especially for developing countries. Foreign direct investments are performed buying an existing corporation, merging or greenfield investments. In recent, foreign direct investments are performed as a green field investments for developing countries. The study aims to analysis foreign direct investment trends for 2000-2013 years. In the first part of this study, the importance of foreign direct investments and their determinants are explained. In the second part, the article also shows that comparative analysis of the inward and outward investments for developing and developed countries. In conclusion, while developed countries can stand competition against other countries with these investments, developing countries can provide a sustainable growth with capital inflows.

Keywords: foreign direct investments, multinational corporations, determinants of FDI, FDI trend

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Authors: Pieter C. M. Cornelis

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European theme parks invest approximately 10 percent of their yearly turnover into new rides and park improvements. Without these investments these parks assume not to be a very competitive and appealing daytrip for their target audiences. However, the impact of investments in attracting new visitors is not well-known and seems to differ dramatically between parks. This paper presents a case study from the Netherlands in which a small amusement park applied a suggested, not yet proven, investment method. The results of the investment are discussed in (a) the form of return on investment and (b) the success of the predictions with regard to this investment. Suggestions for future research are presented.

Keywords: entertainment industry, innovation, investments, theme parks

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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: Neslihan Karatas, Sibel Ecemis Kilic

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This paper aims to examine macro-scale plans and projects/investments which have been prepared for İzmir since The Republican Period. Macro projects that were proposed by central government, local government, industry and urban actors such as the chamber of commerce will be discussed and these projects and its reflections to the city's macro scale planning decisions will be evaluated based on existing development. Effects of macro plans, the related private and public investments, the developments of unplanned/specific projects to the current city form will be discussed. The factors and plans which determine urban form and the problems caused by unanticipated/uncontrolled developments will be evaluated. The proposals will be developed about more efficient planning process.

Keywords: Izmir, macro projects, macro investments, planning

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Authors: Paolo Biancone, Silvana Secinaro, Davide Calandra

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This study explores the integration of Islamic finance principles with environmental, social, and governance (ESG) criteria, focusing on the contribution of Islamic financial instruments to achieving sustainable development goals (SDGs). Through a systematic literature review (SLR) and bibliometric analysis of 66 documents from 2019 to 2024, the research addresses critical gaps by examining the alignment between Islamic finance and ESG, identifying emerging trends, and assessing operational challenges and opportunities. Findings indicate that Islamic finance, mainly through instruments such as green sukuk and Islamic microfinance, demonstrates substantial alignment with ESG objectives, anchored in its ethical principles of risk-sharing, fairness, and avoidance of harmful investments. Nevertheless, scalability and regulatory structures pose significant challenges to broader ESG adoption within Islamic finance. This study offers theoretical and practical implications, proposing that Islamic finance provides a solid framework to address sustainability shortcomings in conventional finance. Furthermore, it highlights future research directions, emphasizing the need for empirical studies on the long-term impact of Islamic financial products on sustainability outcomes and exploring the role of fintech in ESG integration.

Keywords: Islamic finance, ESG, SDGs, bibliometric analysis, Shariah-compliant investments

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Authors: V. Charaia

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From the strategic point of view, not all Foreign Direct Investments (FDIs) are always positively benefiting the host economy, i.e. not all Multinational Enterprises (MNEs) are promoting local/host economies. FDI could have different impact on different sectors of the economy, based not only on annual investment amount, but MNE motivations and peculiarities of the host economy in particular. FDI analysis based only on its amount can lead to incorrect decisions, it is much more important to understand the essence of investment. Consequently, our research is oriented on MNE’s motivations, answering which sectors are most popular among international investors and why, what motivated them to invest into one or another business. Georgian economy for the last period of time is attracting more and more efficiency seeking investments, which could be translated as - concentrating production in a limited number of locations to supply various markets, while benefiting local economy with: new technologies, employment, exports diversification, increased income for the local economy and so on. Foreign investors and MNEs in particular are no longer and not so much interested in the resource seeking investments, which was the case for Georgia in the last decade of XX century. Despite the fact of huge progress for the Georgian economy, still there is a room for foreign investors to make a local market oriented investments. The local market is still rich in imported products, which should be replaced by local ones. And the last but not the least important issue is that approximately 30% of all FDIs in Georgia according to this research are “efficiency seeking” investments, which is an enormous progress and a hope for future Georgian success.

Keywords: investments, MNE, FDI motivations, Georgian economy

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Authors: Joanna Stawska

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The main objective of this article is to examine the impact of interest rates on investments in Poland in the context of financial crisis. The paper also investigates the dependence of bank loans to enterprises on interbank market rates. The article studies the impact of interbank market rate on the level of investments in Poland. Besides, this article focuses on the research of the correlation between the level of corporate loans and the amount of investments in Poland in order to determine the indirect impact of central bank interest rates through the transmission mechanism of monetary policy on the real economy. To achieve the objective we have used econometric and statistical research methods like: econometric model and Pearson correlation coefficient. This analysis suggests that the central bank reference rate inversely proportionally affects the level of investments in Poland and this dependence is moderate. This is also important issue because it is related to preparing of Poland to accession to euro area. The research is important from both theoretical and empirical points of view. The formulated conclusions and recommendations determine the practical significance of the paper which may be used in the decision making process of monetary and economic authorities of the country.

Keywords: central bank, financial crisis, interest rate, investments

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Authors: Precious M. Tshabalala, Thula S. Dlamini, Frikkie Liebenberg, Johann Kirsten

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Numerous studies have been conducted, and the evidence has been unambiguous showing that investing in agricultural research and development increases productivity. Continued investments in agricultural research have led to the development of over 26 successful plum cultivars since 1980 at the Agricultural Research Council’s (ARC) Infruitec/Nietvoorbij in South Africa, and more continue to be developed to meet the specific needs of both producers and consumers. Yet very little is known about the returns on any of these research initiatives. The objective of the study was determine the economic impact of plum research investments at the ARC-the main plum breeding research organization in the country. The rate of return to plum research is estimated by estimating parameters in plum production and expressing research investment as an explanatory variable. The marginal rate of return is then determined to be 14.23 per cent. The rate of return to investment being this high is indicative of an under investment in plum research.

Keywords: Agricultural research investments, productivity and rate of return, plum

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Authors: Christoph Köster

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Supplier selection is one of the key challenges in supply chain management and can be considered a multi-criteria decision-making (MCDM) problem. In the 1960s, it evolved from considering only economic criteria, such as price, quality, and performance, to including environmental and social criteria nowadays. Although receiving considerable attention from scholars and practitioners over the past decades, existing research has not considered governance criteria so far. This is, however, surprising, as ESG (environmental, social, and governance) criteria have gained considerable attention. In order to complement ESG criteria in the supplier selection process, this study investigates German DAX and MDAX companies and evaluates the impact of governance criteria along their supplier selection process. Moreover, it proposes a set of criteria for the respective process steps. Specifically, eleven criteria for the first process step and five criteria for the second process step are identified. This paper contributes to a better understanding of the supplier selection process by elucidating the relevance of governance criteria in the supplier selection process and providing a set of empirically developed governance criteria. These results can be applied by practitioners to complement the criteria set in the supplier selection process and thus balance economic, environmental, social, and governance targets.

Keywords: ESG, governance, sustainable supplier selection, sustainability

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Authors: Jolanta Brodowska-Szewczuk

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The article includes the results and conclusions from empirical researches that had been done. The research focuses on the impact of investments made in small and medium-sized enterprises financed from EU funds on the competitiveness of these companies. The researches includes financial results in sales revenue and net income, expenses, and many other new products/services on offer, higher quality products and services, more modern methods of production, innovation in management processes, increase in the number of customers, increase in market share, increase in profitability of production and provision of services. The main conclusions are that, companies with direct investments under this measure shall apply the modern methods of production. The consequence of this is to increase the quality of our products and services. Furthermore, both small and medium-sized enterprises have introduced new products and services. Investments were carried out, thus enabling better work organization in enterprises. Entrepreneurs would guarantee higher quality of service, which would result in better relationships with their customers, what is more, noting the rise in number of clients. More than half of the companies indicated that the investments contributed to the increase in market share. Same thing as for market reach and brand recognition of particular company. An interesting finding is that, investments in small enterprises were more effective than medium-sized enterprises.

Keywords: competitiveness, efficiency, EU funds, small and medium-sized enterprises

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Authors: Munezero Vanessa

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A country is considered developed when its socio-economic and development situation is stable. Foreign direct investment is thus considered to be one of the solutions to this stability especially when it is used in development sectors. The present study was meant to understand whether the foreign direct investment stimulates economic growth performance in Rwanda. The foreign direct investments and economic growth (GDP) has been the subject of much debate among economic development researchers, aid donors as well as recipients in general and Rwanda in particular. In spite of this, there are only few empirical studies that investigate the contributions of foreign direct investments to economic growth in Rwanda. This study explores the relationship between foreign direct investments and economic growth in Rwanda using data that spans from 2000 to 2019 and establishing through causal study if changes in one variable cause changes in the other. The results show that foreign direct investments significantly contribute to the current level of economic growth. The findings imply that Rwanda could enhance its economic growth by effectively and strategically strengthening foreign direct investment plans.

Keywords: foreign direct investment (FDI), economic growth, GDP gross domestic product (GDP), inflation, exchange rate

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Authors: Tomas Barnak, Libor Matejka

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The aim of this study is to create a standard application using multi-criteria evaluation in the field of forensic engineering. This situation can occur in the professional assessment in several cases such as when it is necessary to consider more criteria variant of the structural subsystems, more variants according to several criteria based on a court claim, which requires expert advice. A problematic situation arises when it is necessary to clearly determine the ranking of the options according to established criteria, and reduce subjective evaluation. For the procurement in the field of construction which is based on the prepared text of the law not only economic criteria but also technical, technological and environmental criteria will be determined. This fact substantially changes the style of evaluation of individual bids. For the above-mentioned needs of procurement, the unification of expert’s decisions and the use of multi-criteria assessment seem to be a reasonable option. In the case of experimental verification when using multi-criteria evaluation of alternatives construction subsystem the economic, technical, technological and environmental criteria will be compared. The core of the solution is to compare a selected number of set criteria, application methods and evaluation weighting based on the weighted values assigned to each of the criteria to use multi-criteria evaluation methods. The sequence of individual variations is determined by the evaluation of the importance of the values of corresponding criteria concerning expertise in the problematic of outside wall constructional subsystems.

Keywords: criteria, expertise, multi-criteria evaluation, outside wall subsystems

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Authors: Ivana Tadić, Željana Aljinović Barać, Nikolina Plazonić

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Living today in turbulent business environment forces companies to distinguish from each other, securing sustainable competitive growth and competitive advantage. The best possible solution is to invest (effort and financial resources) within companies’ different practices of human resource management (HRM), more specifically in employees’ knowledge, skills and abilities. Applying this approach companies will create enviable level of human capital securing its economic growth. Employees become human capital for their employers at the moment when they contribute with their own knowledge and abilities in creating material and non-material value of the company. The main aim of this research is to explore the relations between human capital investments and business excellence of Croatian companies. Furthermore, the differences in the level of human capital investments with regard to several companies’ characteristics (e.g. size of the company, ownership and type of the industry) are investigated.

Keywords: business excellence, Croatian industries, human capital investments, human resource management

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Authors: M. Macchiaroli, V. Pellecchia, L. Dolores

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Within any European and world model of management of the integrated water service (in Italy only since 2012 is regulated by a national Authority, that is ARERA), a significant part is covered by the development of assets in terms of hydraulic networks and wastewater collection networks, including all their relative building works. The process of selecting the investments to be made starts from the preventive analysis of critical issues (water losses, unserved areas, low service standards, etc.) who occur in the managed territory of the Operator. Through the Program of Interventions (Provision by ARERA n. 580/2019/R/idr), the Operator provides to program the projects that can meet the emerged needs to determine the improvement of the water service levels. This phase (analyzed and solved by the author with a work published in 2019) involves the use of evaluation techniques (cost-benefit analysis, multi-criteria, and multi-objective techniques, neural networks, etc.) useful in selecting the most appropriate design answers to the different criticalities. However, at this point, the problem of establishing the time priorities between the various works deemed necessary remains open. That is, it is necessary to hierarchize the investments. In this decision-making moment, the interests of the private Operator are often opposed, which favors investments capable of generating high profitability, compared to those of the public controller (ARERA), which favors investments in greater social impact. In support of the concertation between these two actors, the protocol set out in the research has been developed, based on the AHP and capable of borrowing from the programmatic documents an orientation path for the settlement of the conflict. The protocol is applied to a case study of the Campania Region in Italy and has been professionally applied in the shared decision process between the manager and the local Authority.

Keywords: analytic hierarchy process, decision making, economic evaluation of projects, integrated water service

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Authors: Anuj Kumar Vaksha

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In the post cold war era the foreign direct investments have come to be considered as one of the most critical factors for economic development of a country particularly for the capital scarce countries like the developing and the under developed countries. The rush for foreign direct investments have led to intense competition between the countries treaties to attract foreign investments by entering into alluring Bilateral Investment Treaties (BITs). The Bilateral Investment Treaties are the intergovernmental legal framework for the promotion of private investments from one country to other. With more than 3000 BITs, the web of such BITs are the most dominant development of International Law in the post cold war era. The essence of all these BITs are bilateral cooperation for economic development and thus it is actually the theme of economic development around which the International Law had developed most dominantly in the post cold war era. Within the framework of two generally accepted premises that foreign direct investments are critical for economic development and the bilateral investment treaties are critical for promotion of foreign direct investments, the research paper seeks to explore the perspectives and paradigms on economic development as embodied in various Bilateral Investment Treaties. It seeks to address how and in what manners the perspectives on economic development as embodied in bilateral investment varies between the developed, developing and underdeveloped countries. It goes without saying that economic development is a very broad, complex and operationally intricate concept. In the paradigm of International Law it becomes much more complex and intricate. Understanding the concept of economic development from the perspectives of Bilateral Investment Treaties is a novel idea with far reaching significance. Such a perspective on economic development would help in enriching the contemporary International Law perspectives and paradigms on economic development.

Keywords: bilateral investment treaties, economic development, international Law, perspectives

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Authors: Nurullah Ekmekci, Ömer Akkaya, Kazım Karaboğa, Mahmut Tekin

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Job selection is one of the most important decisions that affect their lives in the name of being more useful to themselves and the society. There are many criteria to consider in the job selection. The amount of criteria in the job selection makes it a multi-criteria decision-making (MCDM) problem. In this study; job selection has been discussed as multi-criteria decision-making problem and has been solved by Analytic Hierarchy Process (AHP), one of the multi-criteria decision making methods. A survey, contains 5 different job selection criteria (finding a job friendliness, salary status, job , social security, work in the community deems reputation and business of the degree of difficulty) within many job selection criteria and 4 different job alternative (being academician, working at the civil service, working at the private sector and working at in their own business), has been conducted to the students of Selcuk University Faculty of Economics and Administrative Sciences. As a result of pairwise comparisons, the highest weighted criteria in the job selection and the most coveted job preferences were identified.

Keywords: analytical hierarchy process, job selection, multi-criteria, decision making

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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: Peter P. K. Chiu

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This paper reports a comparative study of new and old criteria for the professional accreditation of programme by the Hong Kong Institution of Engineers (HKIE). The major change in the criteria is the adoption of the outcome-based accreditation criteria and the use of measurement of attainment of outcomes which is very different from what academic did in the past. This has imposed a lot of difficulty for people in preparation for such exercise. Through this comparative study, the major difference between the two criteria is identified and a methodology is devised to help the academic to handle the issues due to the adoption of the new criteria. Thus it saves a lot of efforts.

Keywords: Hong Kong institution of engineers, outcome-based accreditation, Sydney accord, Washington accord

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Authors: Ali M. Al-Shaery

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The purpose of this paper is to address the functions of sustainability dimensions in city information modelling and to present the required sustainability criteria that support establishing a sustainable planning framework for enhancing existing cities and developing future smart cities. The paper is divided into two sections. The first section is based on the examination of a wide and extensive array of cross-disciplinary literature in the last decade and a half to conceptualize the terms ‘sustainable’ and ‘smart city,' and map their associated criteria to city information modelling. The second section is based on analyzing two approaches relating to city information modelling, namely statistical and dynamic approaches, and their suitability in the development of cities’ action plans. The paper argues that the use of statistical approaches to embedding sustainability dimensions in city information modelling have limited value. Despite the popularity of such approaches in addressing other dimensions like utility and service management in development and action plans of the world cities, these approaches are unable to address the dynamics across various city sectors with regards to economic, environmental and social criteria. The paper suggests an integrative dynamic and cross-disciplinary planning approach to embedding sustainability dimensions in city information modelling frameworks. Such an approach will pave the way towards optimal planning and implementation of priority actions of projects and investments. The approach can be used to achieve three main goals: (1) better development and action plans for world cities (2) serve the development of an integrative dynamic and cross-disciplinary framework that incorporates economic, environmental and social sustainability criteria and (3) address areas that require further attention in the development of future sustainable and smart cities. The paper presents an innovative approach for city information modelling and a well-argued, balanced hierarchy of sustainability criteria that can contribute to an area of research which is still in its infancy in terms of development and management.

Keywords: information modelling, smart city, sustainable city, sustainability dimensions, sustainability criteria, city development planning

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Authors: Mehdi Ghaemi

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Within the current paper, there is an attempt to examine the legal system that overrules economic stability and legitimate expectations of foreign investment rights. Studies show that Meeting the legitimate expectations of foreign investment is one of the rights and privileges which obviously are to be benefited from by all types of foreign investments. The legitimate expectations of foreign investors are protected and structured strongly with the help of international investment laws. The body of international investment laws is faced with multiple challenges with respect to the legitimate expectations of foreign investments, including the Economic stability and the public interest of the host country, the attitude of the host country towards the legitimate rights and privileges of the foreign investment, the ways to meet and to control those expectations, and also the assessment of the regulations of the host country which would affect the investing bodies within different circumstances.

Keywords: foreign investment, legitimate expectations, regulating investments, international investment

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Authors: Amit Gupta, Deepak Juneja, Sorabh Gupta

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This paper presents a model based on distance based approach (DBA) method employed for evaluation, selection, and ranking of replenishment policies for a single location inventory, which hitherto not developed in the literature. This work recognizes the significance of the selection problem, identifies the selection criteria, the relative importance of selection criteria for this research problem. The developed model is capable of comparing any number of alternate inventory policies for various selection criteria where cardinal values are assigned as a rating to alternate inventory polices for selection criteria and weights of selection criteria. The illustrated example demonstrates the model and presents the result in terms of ranking of replenishment policies.

Keywords: DBA, ranking, replenishment policies, selection criteria

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Authors: Ibrahim Cil, Onur Kurtcu, H. Ibrahim Demir, Furkan Yener, Yusuf. S. Turkan, Muharrem Unver, Ramazan Evren

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Fuzzy AHP (Analytic Hierarchy Process) method is decision-making way at the end of integrating the current AHP method with fuzzy structure. In this study, the processes of production planning, inventory management and purchasing department of a system were analysed and were requested to decide the performance criteria of each area. At this point, the current work processes were analysed by various decision-makers and comparing each criteria by giving points according to 1-9 scale were completed. The criteria were listed in order to their weights by using Fuzzy AHP approach and top three performance criteria of each department were determined. After that, the performance criteria of supply chain consisting of three departments were asked to determine. The processes of each department were compared by decision-makers at the point of building the supply chain performance system and getting the performance criteria. According to the results, the criteria of performance system of supply chain by using Fuzzy AHP were determined for which will be used in the supply chain performance system in the future.

Keywords: AHP, fuzzy, performance evaluation, supply chain

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Authors: Ahmad Sarfaraz, Raiyad Herwies

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In this paper, a multi-criteria decision making analysis is used to help any organization selects the best KM tool that fits and serves its needs. The AHP model is used based on a previous study to highlight and identify the main criteria and sub-criteria that are incorporated in the selection process. Different KM tools alternatives with different criteria are compared and weighted accurately to be incorporated in the GP model. The main goal is to combine the GP model with the AHP model to ensure that selecting the KM tool considers the resource constraints. Two important issues are discussed in this paper: how different factors could be taken into consideration in forming the AHP model, and how to incorporate the AHP results into the GP model for better results.

Keywords: knowledge management, analytical hierarchy process, goal programming, multi-criteria decision making

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Authors: Jihene Jebeniani

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We proposed an approach combining both the techniques of experimental economy and the flexibility of discrete choice models in order to test the loss aversion. Our main objective was to test the loss aversion of the Cumulative Prospect Theory (CPT). We developed an experimental laboratory in the context of the financial investments that aimed to analyze the attitude towards the risk of the investors. The study uses the lotteries and is basing on econometric modeling. The estimated model was the ordered probit.

Keywords: risk aversion, behavioral finance, experimental economic, lotteries, cumulative prospect theory

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Authors: Nasser Y. Mahamoud, Pierre Dehombreux, Hassan E. Robleh

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Industrial companies may be confronted with questions about their choice of maintenance policy. This choice must be guided by several numbers of decision criteria or objectives related to their production or service activities but also to their level of development and their investment prospects. A decision-support methodology to choose a maintenance policy (corrective, systematic or conditional preventive, predictive, opportunistic or not) is proposed to facilitate this choice using the main categories of the most important decision criteria. The different steps of this methodology are illustrated using theoretical case: identification of the different maintenance alternatives, determining the structure of the most important categories of the decision criteria, assessing the different maintenance policies on to the criteria by using an ordinal preference relation, and finally ranking the different maintenance policies.

Keywords: maintenance policy, decision criteria, decision-making process, AHP

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Authors: Elham Zabetian Targhi, Niusha Fardnava, Saba Saghafi

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Urban resilience to Corona Virus has become a major concern for cities these days. Our country also has not been safe from the destructive effects of this virus in social, economic, physical, governance, and management dimensions; and according to official statistics, hundreds of thousands of people in Iran have been infected with this virus and tens of thousands have died so far. Therefore, to measure urban resilience to this pandemic, some criteria and sub-criteria were developed based on the authors’ documentary and field studies, and their significance or weights were determined using analytical-comparative research method using a questionnaire of paired or L-Saati comparisons from the viewpoint of experts in urban sciences and urban development using AHP hierarchical analysis in EXPERT CHOICE software. Then, designing a questionnaire with a five-point Likert scale, the satisfaction of Tehran residents with the extracted criteria and sub-criteria was measured and the correlation between the important criteria in each dimension was assessed using correlation tests in SPSS16 software. According to the obtained results of AHP analysis and the scores of each sub-criterion, the weight of all criteria was normal. In the next stage, according to the pairwise correlation tests between the important criteria in each dimension from the viewpoint of urban science experts and Tehran residents, it was concluded that the reliability of the correlation between the criteria is 99%. In all the cases, the P-value or the same significance level was less than 0.05, which indicated the significance of the pairwise relations between the variables.

Keywords: Urban Resilience, Pandemics, Corona Virus (Covid-19), Criteria.

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Authors: G. Erkomaishvili, M. Kobalava, T. Lazariashvili, N. Damenia

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Current state of foreign direct investment (FDI) in Georgia is analyzed and evaluated in the paper, the existing legislative background for regulating investments and stimulating policies to attract investments are shown. It is noted that in developing countries encouragement of investment activity, support and implementation are of the most important tasks, implying a consistent investment policy, investor-friendly tax regime and the legal system, reducing administrative barriers and restrictions, fare competitive conditions and business development infrastructure. The work deals with the determining factor of FDIs and the main directions of stimulation, as well as prospective industries where new investments are needed. Contributing and hindering factors and stimulating measures are analyzed. As a result of the research, the direct and indirect factors attracting FDI have been identified. Facilitating factors to FDI inflow are as follows: simplicity of starting business, geopolitical location, low taxes, access to credit, ease of ownership registration, natural resources, low burden of regulations, low level of corruption and low crime rates. Hindering factors to FDI inflow are as follows: small market, lack of policy for attracting investments, low qualification of the workforce (despite the large number of unemployed people it is difficult to find workers with necessary special skills and qualifications), high interest rates, instability of national currency exchange rate, presence of conflict zones within the country and so forth.

Keywords: foreign direct investment, investor, investment attracting marketing policies, reinvestment

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Authors: Tayfun Cay, Fazil Nacar

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Energy investments have increased in North Mediterranean Ceyhan and Yumurtalık districts of Turkey in the last years because of the treaties which are signed between Turkey and other countries for petroleum and natural gas transmission. Authority of land use has passed to district and metropolitan municipalities from town municipalities because of changes in coast legislation and local management legislation. Also Ministry of Environment and Urban Planning and Ministry of Industry and Commerce have had a right to comment on planning unofficially. Public investments increase in area and related planning and expropriation services continue. On the other hand, a lot of private sectors invest in organised industrial sites and industrial areas and it causes a rapid change in ownership status. Also Ceyhan-yumurtalık region is the tourism centre of North Mediterranean. Tourism investments continue in this district. Especially construction sector gain speed and a lot of country sites and apartments are built. In these studies, changes in planning activities in management of different administrative organisations and changes in ownership status and changes in private properties will be presented.

Keywords: coast management, land management, land use, property, public interest

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Authors: Milena Lakicevic

Abstract:

The paper deals with the problem of optimizing management options for urban parks within different scenarios of nature protection and tourism importance. The procedure is demonstrated on a case study example of urban parks in Novi Sad (Serbia). Six management strategies for the selected area have been processed by the decision support method PROMETHEE. Two criteria used for the evaluation were nature protection and tourism and each of them has been divided into a set of indicators: for nature protection those were biodiversity and preservation of original landscape, while for tourism those were recreation potential, aesthetic values, accessibility and culture features. It was pre-assumed that each indicator in a set is equally important to a corresponding criterion. This way, the research was focused on a sensitivity analysis of criteria weights. In other words, weights of indicators were fixed and weights of criteria altered along the entire scale (from the value of 0 to the value of 1), and the assessment has been performed in two-dimensional surrounding. As a result, one could conclude which management strategy would be the most appropriate along with changing of criteria importance. The final ranking of management alternatives was followed up by investigating the mean PROMETHEE Φ values for all options considered and when altering the importance of nature protection/tourism. This type of analysis enabled detecting an alternative with a solid performance along the entire scale, i.e., regardlessly of criteria importance. That management strategy can be seen as a compromise solution when the weight of criteria is not defined. As a conclusion, it can be said that, in some cases, instead of having criteria importance fixed it is important to test the outputs depending on the different schemes of criteria weighting. The research demonstrates the state of the final decision when the decision maker can estimate criteria importance, but also in cases when the importance of criteria is not established or known.

Keywords: criteria weights, PROMETHEE, sensitivity analysis, urban parks

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Authors: Hamidrza Joodaki

Abstract:

The most complex issue in urban land use planning is site selection that needs to assess the verity of elements and factors. Multi Criteria Decision Making (MCDM) methods are the best approach to deal with complex problems. In this paper, combination of the analytical hierarchy process (AHP) model and FUZZY logic was used as MCDM methods to select the best site for gas station in the 4th gas zone of Tehran. The first and the most important step in FUZZY-AHP model is selection of criteria and sub-criteria. Population, accessibility, proximity and natural disasters were considered as the main criteria in this study. After choosing the criteria, they were weighted based on AHP by EXPERT CHOICE software, and FUZZY logic was used to enhance accuracy and to approach the reality. After these steps, criteria layers were produced and weighted based on FUZZY-AHP model in GIS. Finally, through ARC GIS software, the layers were integrated and the 4th gas zone in TEHRAN was selected as the best site to locate gas station.

Keywords: multiple criteria decision making (MCDM), analytic hierarchy process (AHP), FUZZY logic, geographic information system (GIS)

Procedia PDF Downloads 361