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Academic literature on the topic 'Investment Decision'

Author: Grafiati

Published: 4 June 2021

Last updated: 1 June 2024

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Journal articles on the topic "Investment Decision"

1

Virlics, Agnes. "Emotions, Mood and Decision Making." International Journal of Applied Behavioral Economics 3, no. 2 (April 2014): 48–69. http://dx.doi.org/10.4018/ijabe.2014040104.

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Decisions are made according to a complex cognitive and emotional evaluation of the situation. The aim of the paper is to examine the effect of mood on risky investment decision making by using a mood induction procedure. The paper investigates how happy and sad mood affects risky investment decision making and whether there is a difference between the perception of fix investments and monetary investments. The analysis has been conducted focusing on individual investment decisions. Data for the research comes from a laboratory experiment, where 166 participants in happy, sad and neutral mood, filled out a questionnaire of investment decisions. The results indicate that mood does affect investment decision making, and positive and negative mood might have similar effect on the investment decision.

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Kekytė, Ieva, and Viktorija Stasytytė. "Comparative Analysis of Investment Decision Models." Mokslas - Lietuvos ateitis 9, no. 2 (June 2, 2017): 197–208. http://dx.doi.org/10.3846/mla.2017.1023.

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Rapid development of financial markets resulted new challenges for both investors and investment issues. This increased demand for innovative, modern investment and portfolio management decisions adequate for market conditions. Financial market receives special attention, creating new models, includes financial risk management and investment decision support systems.Researchers recognize the need to deal with financial problems using models consistent with the reality and based on sophisticated quantitative analysis technique. Thus, role mathematical modeling in finance becomes important. This article deals with various investments decision-making models, which include forecasting, optimization, stochatic processes, artificial intelligence, etc., and become useful tools for investment decisions.

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Ahmad Zaidi, Atikah Zulaikha, and Nor Suziwana Hj Tahir. "Factors That Influence Investment Decision Making Among Potential Individual Investors in Malaysia." ADVANCES IN BUSINESS RESEARCH INTERNATIONAL JOURNAL 5, no. 1 (June 30, 2019): 9. http://dx.doi.org/10.24191/abrij.v5i1.9969.

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Individual investments behaviour is concerned with choices about purchases of small amounts of securities for his or her own account. Decision tools often support investment decisions. It is assumed that information structure and the factors in the market systematically influence individuals’ investment decisions as well as market outcomes. Decision tools often support investment decisions. It is assumed that information structure and the factors in the market systematically influence individuals’ investment decisions as well as market outcomes. Investor market behaviour derives from psychological principles of decision making to explain why people buy or sell stocks. These factors will focus upon how investors interpret and act on information to make investment decisions. The purpose of the study was to identify the factors that influence investment decision making among potential individual investors in Malaysia. Three behavioural factors might influence investment decision making which are accounting-information, firm-image coincidence and personal-financial-needs. A set of questionnaire was distributed to 384 potential investors in Malaysia specifically in housing area of Klang Valley as population of this study. Based on the findings, it showed that there is positive relationship between accounting-information, firm-image-coincidence and personal-financial-needs in investment decision making. Hence, between these three behavioural factors, accounting-information, firm-image coincidence and personal-financial-needs, the main influential factor is accounting-information. This study also proposed a future research for investment decision making and give implications to the potential investors, community, organization, policy makers and investment practitioners.

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Mehta, Pooja V. "Investment Decision Using Behavioural Finance." Paripex - Indian Journal Of Research 2, no. 2 (January 15, 2012): 146–47. http://dx.doi.org/10.15373/22501991/feb2013/50.

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Cruz, Julio, and Ariel Singerman. "Understanding Investment Analysis for Farm Management." EDIS 2019, no. 4 (August 1, 2019): 4. http://dx.doi.org/10.32473/edis-fe1060-2019.

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Investment decisions are among the most important decisions growers make. In many cases, those investments are in capital assets such as establishing a new orchard or purchasing a new piece of equipment. The process for evaluating those investments is called investment analysis or capital budgeting. This 4-page fact sheet written by Julio Cruz and Ariel Singerman and published by the UF/IFAS Food and Resource Economics Department reviews net present value and the internal rate of return, the two main criteria for decision making when evaluating a decision to invest in a capital asset. https://edis.ifas.ufl.edu/fe1060

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Alkaraan, Fadi. "Strategic investment decision-making – scanning and screening investment opportunities." Meditari Accountancy Research 24, no. 4 (October 3, 2016): 505–26. http://dx.doi.org/10.1108/medar-01-2016-0007.

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Purpose This study brings together cognitive and organizational aspects of the strategic investment decision-making process. It focuses on the early stages of strategic investment decision-making. This paper aims to augment the limitations of previous survey-based research through an archival case study that describes pre-decision screening in detail. Design/methodology/approach This paper draws on archival data covering an investment decision undertaken by a large brewing company. The data cover a period of about six years, focusing on the decision to invest in West Africa. A rational/intuitive orientation model of the process is used as a framework to help analyze the archival evidence. Findings Strategic investment decisions are non-programmed, complex and uncertain. For some companies (e.g. those with a strategic focus on new expansions), certain non-programmed decisions may become semi-programmed in the course of time by applying knowledge learned from having successfully handled non-programmed decision situations in the past. However, other companies without such a focus may not be able to programme part of their strategic decisions. Pre-decision control mechanisms constitute a form of strategic control by detecting potential problem areas in the investment option before formal approval. Research limitations/implications Given the narrow scope of this paper – a single case study – the findings are used for theorization rather than offering generalizable results. There is a need for unified models to enrich our understanding of the influence that contextual factors have on strategic investment decision-making. Effective strategic pre-decision control mechanisms that maintain a good balance between rational and intuitive approaches are matters that remain open for debate in future research. Practical implications Research on organizational and cognitive aspects of the strategic investment decision-making process is inherently practical. To achieve successful strategic investment decisions, it is essential to devote more attention to the choice and design of strategic control mechanisms. Originality/value The framework of this study can help practitioners to gauge the strengths and weaknesses of their decision-making practices. It focuses on three aspects that are relatively absent in the literature: the strategic problem, the strategic choice and the chronological relations between the five stages of the strategic investment decision-making process. The use of historical data is suited to providing illustrations of intuitive/heuristic-based practices that would otherwise be hard to capture.

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Simanjuntak, Rahmad, Sonya Putri, and Iskandar Muda. "The influence of technical and fundamental analysis on investment decision making for traders with theory of reasoned action." Brazilian Journal of Development 9, no. 12 (December 26, 2023): 31972–86. http://dx.doi.org/10.34117/bjdv9n12-095.

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Financial behavior is intended to understand the behavior of investors in making investment decisions. Decision-making is a process to select the best alternative from available possible alternatives in a complex situation. Decision-making in investments is influenced by knowledge of fundamental analysis, technical analysis, and investor psychology in the capital market. This study aims to determine the behavior of investors in decision-making in investments in the capital market. There were eight informants interviewed in this study from various backgrounds, including brokers, university students, private employees, and investment managers. The result of this study showed the behavior of investors in decision-making in investments in . In making a decision, investors paid less attention to intrinsic value of stocks when stocks are in an uptrend condition and were overconfident in making decisions. Meanwhile, stock investor decisions were quite influenced by fundamental conditions, macroeconomics, and technical stock price fluctuation, so the behavior of individual stock investors in decision-making in tends to be rational.

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Junivar, Mutiara Syahada, Moch Doddy Ariefianto, and Irwan Trinugroho. "Financial distress, value of firm, trilemma index dan investment decision studi pada perusahaan pertambangan global besar." Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan 4, no. 10 (May 25, 2022): 4697–703. http://dx.doi.org/10.32670/fairvalue.v4i10.1742.

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The purpose of this study was to determine the relationship between financial distress, value of firm and investment decision in the world's largest mining companies. Investment decision in a company is very important in developing the company, it can be by doing business expansion or other things. This research uses quantitative methods. The independent variables in this study are financial distress, firm value and trilemma index. the financial distress coefficient is negative -0.04 significant with a p-value of 0.021 for investment decisions. Financial distress has a negative influence on investment decisions in large mining companies around the world in 2010-2019, which means that in the world's large mining companies, companies that have a financial downturn in their companies tend to make investment decisions with the aim of restoring the company's financial condition. The point is, financial distress here can also occur not because after the company makes an investment decision, the company will experience a financial downturn, this can happen one of them because by making an investment decision it can make the company's finances seem to be reduced but financial conditions can be reduced. by the company in making investments.

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Stoilov, Todor, Krasimira Stoilova, and Miroslav Vladimirov. "Decision Making in Real Estate: Portfolio Approach." Cybernetics and Information Technologies 21, no. 4 (December 1, 2021): 28–44. http://dx.doi.org/10.2478/cait-2021-0041.

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Abstract An investment policy is suggested about assets on real estate markets. Such analysis recommends investments in non-financial assets and optimization of the results from such decisions. The formalization of the investment policy is based on the portfolio theory for asset allocation. Two main criteria are applied for the decision making: return and risk. The decision support is based on Mean-Variance portfolio model. A dynamical and adaptive investment policy is derived for active portfolio management. Sliding procedure in time with definition and solution of a set of portfolio problems is applied. The decision defines the relative value of the investment to which real estates are to be allocated. The regional real estate markets of six Bulgarian towns, which identify the regions with potential for investments, are compared. The added value of the paper results in development of algorithm for a quantitative analysis of real estate markets, based on portfolio theory.

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Putri, Silvia, and Halmawati Halmawati. "Pengaruh Financial Literacy, Representativeness Bias, Dan Bias Optimisme Terhadap Pengambilan Keputusan Investasi." JURNAL EKSPLORASI AKUNTANSI 2, no. 3 (November 5, 2020): 2976–91. http://dx.doi.org/10.24036/jea.v2i3.263.

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This study aims to analyze 1) whether there is an influence of financial literacy on investment decision maknig. 2) Obtain empirical evidence whether there is an Representativeness bias making on investment decisions. 3) Does Bias optimisme affect investment decision making. In this study using Causality Design. Population and sampek are 104 respondents registered in the Indonesia Stock Exchange Investment Gallery (GIBEI) Faculty of Economics, State University of Padang. The method of analysis is multiple linear regression. The results of the study found 1) Financial literacy influences investment decisions on investment decision making.2) Optimum bias affects investment decisions on investment decision making. 3) Representativness influences investment decisions on investment decision making. 4) Together financial literacy variables, the optimum bias and representativness together influence the investment decision on investment decision making

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Dissertations / Theses on the topic "Investment Decision"

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Bidewell, John. "Decision making in personal investment /." Connect to full text, 2003. http://setis.library.usyd.edu.au/adt/public_html/adt-NU/public/adt-NU20031219.140243/index.html.

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Bidewell, John W. "Decision making in personal investment." Connect to full text, 2003. http://hdl.handle.net/2123/517.

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Thesis (Ph. D.)--University of Sydney, 2003.
Title from title screen (viewed Apr. 29, 2008). Submitted in fulfilment of the requirements for the degree of Doctor of Philosophy to the School of Psychology, Faculty of Science. Includes bibliography. Also available in print form.

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Bidewell, John William. "Decision making in personal investment." Thesis, The University of Sydney, 2003. http://hdl.handle.net/2123/517.

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Personal investors must postpone gratification and manage risk. This thesis examines the effects of delay and risk on personal investment decisions. The delay discounting literature is employed in developing a new parameter �ki� which integrates an investment�s term and interest rate with the hyperbolic delay discounting model. By indicating the extent to which compound interest growth compensates for hyperbolic delay discounting, ki should strongly predict the subjective appeal of prospective investment returns. Six binary-choice experiments test this hypothesis, especially via a subsidiary hypothesis that exponential growth from compound interest will eventually compensate for delay, given a sufficient term. Analyses include a novel application of signal detection principles, which found ki a superior predictor of investment appraisals compared to the normative exponential delay discounting model. Subject to boundary conditions of term and investment amount, results support the predictive capacity of ki for gross returns, implying a hitherto unrecognised degree of predictability for investment decisions. To investigate perceptions of risk with delay, three additional experiments compared preferences among hypothetical investments with varying risk and term. Risk seeking and risk aversion were detected, consistent with individual differences in hyperbolic probability discounting rates. Excessive risk aversion proved the greater problem, encouraging unnecessarily conservative investment decisions. Unexpectedly, no evidence of delay discounted risk was found. Responses consistent with higher probability discounting of larger amounts occurred, but only for a longer rather than a shorter investment term. A survey of postgraduate finance students examined how investment past performance is interpreted. Participants evaluated annual returns from hypothetical 10-year investments that varied in their mean return, volatility, and sequence of high and low returns. Evaluations generally reflected underlying investment properties. Maladaptive appraisal tendencies included unwarranted attention to the order in which high and low returns occurred within a series. Overall for this dissertation, results suggest that delay and probability discounting theory has practical relevance for understanding personal investment decisions. The principles and methodology in this dissertation are applicable to other varieties of financial and consumer behaviour.

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Bidewell, John William. "Decision making in personal investment." University of Sydney. Psychology, 2003. http://hdl.handle.net/2123/517.

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Personal investors must postpone gratification and manage risk. This thesis examines the effects of delay and risk on personal investment decisions. The delay discounting literature is employed in developing a new parameter �ki� which integrates an investment�s term and interest rate with the hyperbolic delay discounting model. By indicating the extent to which compound interest growth compensates for hyperbolic delay discounting, ki should strongly predict the subjective appeal of prospective investment returns. Six binary-choice experiments test this hypothesis, especially via a subsidiary hypothesis that exponential growth from compound interest will eventually compensate for delay, given a sufficient term. Analyses include a novel application of signal detection principles, which found ki a superior predictor of investment appraisals compared to the normative exponential delay discounting model. Subject to boundary conditions of term and investment amount, results support the predictive capacity of ki for gross returns, implying a hitherto unrecognised degree of predictability for investment decisions. To investigate perceptions of risk with delay, three additional experiments compared preferences among hypothetical investments with varying risk and term. Risk seeking and risk aversion were detected, consistent with individual differences in hyperbolic probability discounting rates. Excessive risk aversion proved the greater problem, encouraging unnecessarily conservative investment decisions. Unexpectedly, no evidence of delay discounted risk was found. Responses consistent with higher probability discounting of larger amounts occurred, but only for a longer rather than a shorter investment term. A survey of postgraduate finance students examined how investment past performance is interpreted. Participants evaluated annual returns from hypothetical 10-year investments that varied in their mean return, volatility, and sequence of high and low returns. Evaluations generally reflected underlying investment properties. Maladaptive appraisal tendencies included unwarranted attention to the order in which high and low returns occurred within a series. Overall for this dissertation, results suggest that delay and probability discounting theory has practical relevance for understanding personal investment decisions. The principles and methodology in this dissertation are applicable to other varieties of financial and consumer behaviour.

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Loo, Steve C. K. (Chung Keung Steve) Carleton University Dissertation Management Studies. "An examination of the decision making process in AMT investment decisions." Ottawa, 1987.

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Hsieh, George Kuo-Liang 1975. "VC's decision factor in semiconductor investment." Thesis, Massachusetts Institute of Technology, 2003. http://hdl.handle.net/1721.1/29713.

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Thesis (S.M.M.O.T.)--Massachusetts Institute of Technology, Sloan School of Management, Management of Technology Program, 2003.
Includes bibliographical references (leaves 85-89).
This thesis examines the relationship between the semiconductor industry and venture capital ("VC") industry in China and Taiwan. Taiwan has established an impressive semiconductor industry by encouraging high technology investment for the past two decades; on the other hand, Mainland China is currently emerging as a new and strong entrant with a huge domestic market and resourceful human capital as its support. In the past few years, most of the Taiwanese and Chinese companies were funded by the VC industry that fueled their expansion. Lots of successful investments were made and enormous profits were realized. Nevertheless, the industry environment remains very capital intensive and technology can be easily disrupted by new generations of wafer fabs, making intelligent investments in the semiconductor industry is unpredictable. From the perspective of the VC firms, this thesis first provides a general description of the semiconductor industry, its historical development, the current state of Taiwanese IC Design Industry and a Porter's analysis of the industry outlook. By interviewing the venture capitalists in the Asia-Pacific region, the thesis analyzes what decision factors VC firms must consider in investing in the semiconductor industry in China Lastly, the thesis analyzes which characteristics of the Semiconductor Industry/IC Design sector affect how VC firms invest, how the investment process differs when investing in a semiconductor case and how different members of the VC team affect the investment process. By comparing between a generalist VC and a specialist VC, this thesis seeks to determine which firm has a long-term competitive advantage.
by George Kuo-Liang Hsieh.
S.M.M.O.T.

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Arif, Farrukh. "A Decision Support Framework for Infrastructure Maintenance Investment Decision-Making." FIU Digital Commons, 2013. http://digitalcommons.fiu.edu/etd/1002.

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Infrastructure management agencies are facing multiple challenges, including aging infrastructure, reduction in capacity of existing infrastructure, and availability of limited funds. Therefore, decision makers are required to think innovatively and develop inventive ways of using available funds. Maintenance investment decisions are generally made based on physical condition only. It is important to understand that spending money on public infrastructure is synonymous with spending money on people themselves. This also requires consideration of decision parameters, in addition to physical condition, such as strategic importance, socioeconomic contribution and infrastructure utilization. Consideration of multiple decision parameters for infrastructure maintenance investments can be beneficial in case of limited funding. Given this motivation, this dissertation presents a prototype decision support framework to evaluate trade-off, among competing infrastructures, that are candidates for infrastructure maintenance, repair and rehabilitation investments. Decision parameters’ performances measured through various factors are combined to determine the integrated state of an infrastructure using Multi-Attribute Utility Theory (MAUT). The integrated state, cost and benefit estimates of probable maintenance actions are utilized alongside expert opinion to develop transition probability and reward matrices for each probable maintenance action for a particular candidate infrastructure. These matrices are then used as an input to the Markov Decision Process (MDP) for the finite-stage dynamic programming model to perform project (candidate)-level analysis to determine optimized maintenance strategies based on reward maximization. The outcomes of project (candidate)-level analysis are then utilized to perform network-level analysis taking the portfolio management approach to determine a suitable portfolio under budgetary constraints. The major decision support outcomes of the prototype framework include performance trend curves, decision logic maps, and a network-level maintenance investment plan for the upcoming years. The framework has been implemented with a set of bridges considered as a network with the assistance of the Pima County DOT, AZ. It is expected that the concept of this prototype framework can help infrastructure management agencies better manage their available funds for maintenance.

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Kapur, Sandeep. "Flexibility in decision-making." Thesis, University of Cambridge, 1992. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.241019.

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Quinn, Fiona. "The Foreign Direct Investment Location Decision: A Contingency Model of the Foreign Direct Investment Location Decision-Making Process." Thesis, The University of Sydney, 2012. http://hdl.handle.net/2123/9062.

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Despite considerable prior research into foreign direct investment (FDI) location decisions, our understanding of the processes underlying such decisions is still limited. Findings from work based in the economics and behavioral theories of the multinational enterprise (MNE) both acknowledge that FDI is not a point-of-time decision but a gradual process that yields important changes over its duration. However, these competing traditions both fall short when attempting to portray the actual process by which FDI location decisions are made by managers in MNEs. This gap has been recently attributed to two interrelated limitations. Firstly, level of analysis concerns have artificially separated managerial decision-making processes from the organizational and environmental structures within which they are made. Secondly, because of the complexity inherent in the FDI location decision environment, the study of these decisions has not taken contextual factors into consideration. This study addresses three important questions in order to build our understanding of the FDI location decision-making processes: (1) What are the decision-making processes that lead to FDI location choice? (2) What is the impact of contextual variables on FDI location decision-making processes at different levels of analysis, and are there any patterns of variation in decision processes under different decision conditions? (3) What factors drive final FDI location choice, and can a useful framework or theory be developed that links FDI location decision-making processes and context to drivers of FDI location choice? In order to address level of analysis concerns, the study places the manager at the center of the FDI location decision in modeling and in research, a strategy recommended by an emerging stream of behavioral-focused international business research (Aharoni, 2010; Buckley et al., 2007; Devinney, 2011). By examining FDI location decisions from the perspective of the managers who implement them, it is possible to clarify the nature of processes that lead to FDI location choice, and identify the impact of different elements of decision maker, firm and environmental context on such processes. The conceptual framework builds on Aharoni’s (1966) pivotal research while incorporating findings from broader behavioral managerial decision models and international business research. The framework is based on the assumption that FDI location decision-making processes and final choice are contingent upon interactions between the environmental, firm and decision maker context under which the decision is made. The research was undertaken in three phases. Phase 1 included a literature review that covered research on the MNE, internationalization, and decision making. The findings of the review identified key aspects of FDI location decision context and led to the development of an initial contingency framework of strategic decision making. Phase 2 consisted of an exploratory case study of twenty four FDI location decisions. The initial contingency framework developed during the literature review was used during this stage to identify the relationship between decision-making processes and contextual variables at the case decisions. By drawing on results from the exploratory research, an initial conceptual model and a set of propositions were developed. In Phase 3, twenty case studies were theoretically sampled from a pool of MNEs of varying size and parent-country nationality within the knowledge-based industries. The data collection and analysis followed a process, event-driven approach to case study research involving the mapping of key sequences of events as well as within- and cross-case analysis. The results identify the key elements of the decision process that explain FDI location behavior and develop a framework that links them together and makes them sensible. The four key elements of the FDI location decision that comprise the framework include: (i) the process, (ii) the context, (iii) patterns, and (iv) location. Research findings show the FDI location decision process as comprising of five broad stages, the content of each driven by a dynamic and evolving interpretation of maximum subjective expected utility. Utility preferences are identified as the consequence of shifting and opaque goals, founded upon imperfect information, operating in an environment marked by uncertainty. Five variations in the overall orientation of utility at case decisions, classified in the study as ‘decision rules,’ proved to be more useful predictors of decision-making behavior than traditional notions of bounded rationality seeking rent extraction and profitability. Decision processes were found to vary in five prototypical patterns, according to clusters of contextual variables that together moderated the level of decision-maker autonomy, hierarchical centralization, rule formalization, commitment to strategy, and politicization of the decision. Patterns are described as FDI location decision-making models, and proposed as an initial step towards the development of a taxonomy of FDI location decision-making processes. Because of the dynamic and staged nature of the process, findings showed that factors that were important at one stage of the decision were not as important at the next. As such, the task of identifying universal drivers of FDI location was deemed an unfeasible one. In place of universal drivers, the initiating force of the investment, the purpose of investment and information sources and networks are identified as the key context-specific determinants of location in FDI decisions. Bounded by uncertainty, chance, the dynamics of the process and decision-maker effects, each of these aspects of the decision served to limit the possible consideration set for investment, and formed the value basis and measures from which to select the most attractive location choice. Despite the contextual differences in these drivers, however, the study revealed a strong pattern that showed that the importance of specific location considerations differed in much the same way across case decisions. During the first stage of case decisions primarily strategic aspects of locations were considered; during the second, considerations relating to the system; operational concerns in the third; implementation concerns in the fourth; and added value factors in the final choice. How each of these concerns was interpreted to reach final location choice differed according to the drivers mentioned previously, although the patterns were the same. This study develops a contingency framework for examining the FDI location decision-making processes of MNEs under different operating conditions. By identifying the four key components of the FDI location decision, their interrelationships and many sources of variance, this thesis shows that despite its complexity, the FDI location decision is amenable to useful conceptual structuring. From an academic standpoint, the framework answers Aharoni’s most recent call to action in ‘Behavioral Elements in Foreign Direct Investment’ (2010) by developing a replicable structure within which to think about incorporating managerial decision models and context into the theory of the MNE. These findings enhance understandings of decision making at MNEs, reconcile a number of inconsistencies between opposing perspectives of MNE theory, and thereby update extant theory so that it has greater relevance in today’s diverse international business environment. From a managerial standpoint, the thesis helps managers to recognize the opportunities and limitations posed by different aspects of decision context so that they are able to tailor their FDI location decision strategies to best suit their needs. Finally, from the perspective of policy markers, research findings provide great support for the use of investment attraction schemes through the use of targeted location marketing and investment incentives.

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Golubeva, Olga. "Foreign Investment Decision-Making in Transition Economies." Doctoral thesis, Stockholms universitet, 2001. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-24749.

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The purpose of this project is to describe and explain the foreign investment decision process in the uncertain and turbulent environment of transition economy. By getting an in-depth understanding of how decision-making works in the environment of transition economy, the study intends to contribute to the development of business administration theory in the area of foreign investment decision-making, particularly its application in the turbulent and uncertain world. Theoretical ‘blocks’, elaborated on the basis of literature study, include the following concepts: the framework of transition economy; initial motivation (or reasons) of companies to make foreign direct investments (FDI); investigation of the investment climate and information collection methods; project evaluation and investment decision criteria; risk assessment factors and risk reduction measures. Transition economy is defined in the study as ‘a non-planned, non-market economy’ where the new emerging market institutions coexist with the bureaucracy and hierarchy inherited from the old administrative system. Investment projects, therefore, should probably be seen as being under institutional influence from both the local (i.e. transition economy) and the Western investor’s home country environments. The empirical data presented in the paper also shows that it is necessary to establish the relevant economic, legal, political and social institutions in order to attract FDI. The study further includes the analysis of the main components and features of transition economies and their influence on FDI decision-making. One of the results of the study is that FDI decision-making in transition economies is largely consistent with different theoretical approaches suggested in the literature. On the other hand, the empirical support obtained for different theoretical approaches is often questionable and opened to alternative interpretations. The presented project suggests that theoretical perspectives do not preclude each other, but rather have a complimentary character. The study attempts to contribute to the mainstream FDI theories through a firm-level approach based on the case studies. Two in-depth case studies are presented in the paper: Ericsson’s direct investments in Russia and Vattenfall’s investments in the Baltic countries. A formal questionnaire based on the parameters of theoretical ‘blocks’ was created and 25 top executives from Ericsson and Vattenfall who participated in FDI decision-making were surveyed. The empirical investigation took place during the period 1997 - 1998 with partial updating of the cases during the year 2000. The study shows that where companies confront stable environments, investment decision routines and procedures will be less necessary and important than where market uncertainty is high. The strong appreciation of the local business partners for properly done investment calculations increases the importance of capital budgeting in transition economies more than in developed market economies. Besides, traditional investment appraisal methods provide managers with an ‘objective’ or ‘materialistic’ feedback for the decision-making in the rapidly changing uncertain environment. On the other hand, the study emphasises the importance of strategy over financial techniques and argues that FDI decisions in transition economies should be based on methods consistent with the company’s long-term objectives. In case of permanent changes, new approaches as well as better co-ordination of traditional techniques with strategic, political, historical, geographical and cultural issues are required. Ericsson’ s direct investments in Russia are presented in the paper in connection with other factors: the company’s historical involvement in Russia, marketing strategy, human resource development, privatisation and restructuring of the telecommunication sector in Russia, etc. Nordic Electric Power Co-operation (Nordel), the EU’ s decision in 1996 to create an internal electricity market in Europe, Baltic ring study, future plans to privatise the energy companies in the Baltic countries, etc., are the framework to present the second case. An application of project evaluation and risk assessment techniques for broader and more complicated environments shows that investment decision-making is probably as much, if not more, a social, political and cultural technology as an economic one. The study argues then that the rational choice decision-making model often co-exists with alternative models elaborated in social science - limited rationality, political and garbage can. According to the empirical data, the investment decisions are largely based on intuition, business experience and judgement, personal contacts with representatives from the local country, and these investment criteria are inevitable and acceptable in a situation of total chaos and permanent change. The right chosen partner, for example, is one of the major criteria for the success of the investment project in a transition economy. One of the outcomes of this study is that the revitalised form of investment decision-making will differ rather markedly from much of what has gone before: less emphasis on the quantitative aspects of capital budgeting, more on the qualitative aspects of companies and investment environment. The project also argues that determinants, approaches and criteria of investment activity in transition economies are largely consistent with patterns observed in other parts of the world. A few specific environmental conditions of transition economies, however, are shown in the study to affect the pattern of FDI decision-making. The level of turbulence is still different compared to the developed market economies due to uncertainties and unpredictibilities associated with environment of transition economies. Other major differences are the large power distance with authoritarian leadership, strong hierarchy and bureaucracy as well as the vital role of personal contacts in transition economies. It is not clear, however, if these features of transition economies should be seen as inherited from the past communist system or as an alternative way to organise the economic actors through networks, a way that is natural and appropriate for the majority of Asian societies.

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Books on the topic "Investment Decision"

1

Capital investment decision-making. London: Dryden Press, 1995.

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Northcott, Deryl. Capital investment decision-making. London: Academic Press, 1992.

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Kotrappa, G. Capital investment decision making. New Delhi: Deep & Deep Pub. PVT. Ltd., 1999.

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Capital investment decision-making. London: International Thompson Business Press, 1998.

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Marshall, Peter Lawrence. A decision analytic approach to silvicultural investment decisions. Vancouver: Forest Economics and Policy Analysis Research Unit, University of British Columbia, 1988.

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Rodgers, Waymond, and Timothy G. McFarlin. Decision Making for Personal Investment. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-47849-4.

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1938-, Mott Graham, ed. Investment appraisal. London: Pitman, 1989.

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1938-, Mott Graham, ed. Investment appraisal. 2nd ed. London: Pitman, 1993.

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Mott, Graham. Investment appraisal. London: Pitman, 1991.

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S, Pindyck Robert, ed. Investment under uncertainty. Princeton, N.J: Princeton University Press, 1994.

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Book chapters on the topic "Investment Decision"

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Tarrade, Hortense. "Investment scope decision." In Cross-Border Venture Capital Investments, 78–96. Wiesbaden: Gabler Verlag, 2012. http://dx.doi.org/10.1007/978-3-8349-6939-2_5.

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Schwarzbichler, Martin, Christian Steiner, and Daniel Turnheim. "Single Investment Decision." In Financial Steering, 39–104. Cham: Springer International Publishing, 2018. http://dx.doi.org/10.1007/978-3-319-75762-9_4.

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Gardiner, Paul D. "Investment decision making." In Project Management, 80–105. London: Macmillan Education UK, 2005. http://dx.doi.org/10.1007/978-1-137-07973-2_4.

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Hirshleifer, Jack. "Investment Decision Criteria." In The New Palgrave Dictionary of Economics, 6967–73. London: Palgrave Macmillan UK, 2018. http://dx.doi.org/10.1057/978-1-349-95189-5_896.

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Hirshleifer, Jack. "Investment Decision Criteria." In The New Palgrave Dictionary of Economics, 1–7. London: Palgrave Macmillan UK, 1987. http://dx.doi.org/10.1057/978-1-349-95121-5_896-1.

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Hirshleifer, Jack. "Investment Decision Criteria." In The New Palgrave Dictionary of Economics, 1–7. London: Palgrave Macmillan UK, 2008. http://dx.doi.org/10.1057/978-1-349-95121-5_896-2.

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Guilding, Chris, and Kate Mingjie Ji. "Investment decision-making." In Accounting Essentials for Hospitality Managers, 277–94. 4th ed. London: Routledge, 2022. http://dx.doi.org/10.4324/9781003183334-14.

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Schoenmaker, Dirk, and Willem Schramade. "Investment Decision Rules." In Springer Texts in Business and Economics, 145–71. Cham: Springer International Publishing, 2023. http://dx.doi.org/10.1007/978-3-031-35009-2_6.

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AbstractWhen making investment decisions, companies need to be able to compare various investment opportunities. Which ones offer the best value? The first sections of this chapter describe how companies can make such comparisons on a purely financial basis, using the basic investment decision rules of payback period; internal rate of return (IRR); discounted cash flow (DCF); or net present value (NPV) to calculate financial value (FV). We then dive deeper in the calculation of social value (SV) and environmental value (EV). Even with these values known, the big question remains: how to balance them? What decision rules should be followed? We present three approaches to combining NPV with social (S) and environmental (E) factors: (1) the constrained PV (with S & E as a budget); (2) the expanded PV (with SV & EV in monetary values); and (3) the integrated PV (with SV & EV explicitly balanced). In all three approaches F, S, and E all weigh in and can be prioritised—ideally informed by the company’s purpose and value creation profile.

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Narayana, D., Sharad Ranjan, and Nupur Tyagi. "Investment Decision Criteria." In Basic Computational Techniques for Data Analysis, 230–46. 2nd ed. London: Routledge India, 2023. http://dx.doi.org/10.4324/9781003398127-13.

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Adams, John, and Linda Juleff. "Investment appraisal." In Managerial economics for Decision Making, 241–76. London: Macmillan Education UK, 2013. http://dx.doi.org/10.1007/978-0-230-21432-3_10.

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Conference papers on the topic "Investment Decision"

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Akinpelu, L. O. "Resolving Conflicting Recommendations in Investment Analysis." In SPE Nigeria Annual International Conference and Exhibition. SPE, 2023. http://dx.doi.org/10.2118/217160-ms.

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Abstract Investment worth or investment performance metrics guide us in making investment decisions. These metrics address specific aspects of investments such as value creation, investment efficiency, risk exposure and risk mitigation amongst many considerations. With the complexity of most investment decisions and the size and scale of many investments especially in the Oil & Gas Industry, it is not enough to look at one dimension of investment. For instance, while most people will look favorably at value creation, which is the central premise of most investment decisions, in the context of limited capital, it is also relevant to factor into decision making, the cost of such value created. In other words, net present value (NPV) which is the time-tested value creation performance metric for investors, will not suffice for most current managerial considerations, particularly when comparing two or more investments. How much value is created is usually juxtaposed with the question: at what cost? In which case, analysts must, of necessity present to Management or the Project Decisions Board, NPV along with other performance metrics, usually the discounted profit to investment ratio, (DPI) and Rate of return (ROR). DPI is value creation per unit of investment or a measure of investment efficiency. The two measures complement each other and expand managerial insights as to the efficacy or otherwise of the investment(s) under consideration. In contemporary investment analysis, more emphasis is placed on investment efficiency reflecting investor preference for ever higher return on capital employed. If the two measures each recommend a particular investment over another, then the decision to invest is straight forward. The problem arises when one metric recommends one investment and the other metric recommends another - a situation that we describe as conflicting recommendations. Which investment to choose will require factoring into the investment decision several considerations beyond just value creation and investment efficiency. Considerations such as available capital, the company's short- and long-term business objectives, other potentially available opportunities all come into play. This paper addresses issues arising from conflicting recommendations. We will highlight this problem by considering a simple example of two investments A and B of the same duration of five years and slightly different investment levels. We will limit our analysis to two popular investment metrics - Net present value (NPV) and discounted profit to investment ratio - DPI. The analysis presented is mainly deterministic and the investment opportunity space is limited to these two investments.

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Lausberg, Carsten, and Patrick Krieger. "Decisions, decision-making, and decision support systems in real estate investment management." In 22nd Annual European Real Estate Society Conference. European Real Estate Society, 2015. http://dx.doi.org/10.15396/eres2015_215.

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Baker, Valerie. "Understanding the ERP Investment Decision." In 2006 IEEE International Conference on Management of Innovation and Technology. IEEE, 2006. http://dx.doi.org/10.1109/icmit.2006.262269.

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Huang, Xiaozhong, Ningkui Wang, and Daijun Wei. "Investment decision using D numbers." In 2016 Chinese Control and Decision Conference (CCDC). IEEE, 2016. http://dx.doi.org/10.1109/ccdc.2016.7531712.

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Sinha, Ankit A., S. V. Vamsi Krishna, Rajashree Shedge, and Avi Sinha. "Movie production investment decision system." In 2017 International Conference on Energy, Communication, Data Analytics and Soft Computing (ICECDS). IEEE, 2017. http://dx.doi.org/10.1109/icecds.2017.8390215.

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Sya’idah, Evi Husniati, Oki Bagus Satrio, and Nanin Sugiarti. "Promotion Mix and Investment Decision." In Annual Conference on Social Sciences and Humanities. SCITEPRESS - Science and Technology Publications, 2018. http://dx.doi.org/10.5220/0007415800870089.

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Hadzimustafa, Shenaj, and Nermine Shabani. "THE IMPACT OF OVERCONFIDENCE BIAS ON PERSONAL INVESTMENT DECISIONS: THE CASE OF NORTH MACEDONIA." In Economic and Business Trends Shaping the Future. Ss Cyril and Methodius University, Faculty of Economics-Skopje, 2020. http://dx.doi.org/10.47063/ebtsf.2020.0008.

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The "Financial Behavior" in the field of "decision making" is the topic that awarded the economist Richard H. Thaler the Nobel Prize in 2017. According to him, after many investigations made on human decisions, it is noticed that they often depend on nature, intuition, habits, cognitive biases, emotional biases which lead the investor to wrong decisions. Given that the investments play an important and central role in the economy, the main purpose of the paper is to analyze the investment decision making process based on emotional bias, or more specifically the overconfidence bias. This study captures the impact of gender, and level of education on overconfidence during investment decision making in North Macedonia. The results show that investors' decisions were significantly influenced by the overconfidence bias. Although men and women are found to be overconfident, studies have shown that the degree of overconfidence varies among them and men are more overconfident than women. Also, overconfidence increases with the level of education. Based on the results certain recommendations are provided in order to assist future investment decision-making processes by notifying and eliminating the overconfidence bias identified during this research as a key factor leading to wrong and failing, non-rational investment decision making.

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Obidike, Peter, and Adaobi Nwosi-Anele. "Techniques for Investment Decision Making for Oil and Gas Assets." In SPE Nigeria Annual International Conference and Exhibition. SPE, 2023. http://dx.doi.org/10.2118/217125-ms.

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Abstract Oil and gas will remain a critical source of energy in the global energy mix and will continue to command attention in investment decisions given resource rich countrie's dependence on hydrocarbon for revenue, even with the energy transition. The techniques for investment decision making vary, depending on the drivers of the decisions. Techniques for investment decision making can be both quantitative and qualitative. Most techniques will start with quantitative analysis but ultimately end up depending on qualitative views from project teams and top management decision makers as they consider factors beyond quantitative evaluations such as political and strategic views. Quantitative evaluations involve the use of economic indicators, stochastic evaluation, and prevailing market conditions for the assessment of profitability of oil and gas projects. The economic evaluation results influence the risk behaviour of investors and decision makers. The qualitative evaluations consider the business drivers, stakeholder's perspectives, including the government in most cases. Other considerations for the qualitative assessment include things like risk appetite, assessment of project locations and energy transition policies. These areas of considerations highlight the need for investment decision making to be guided by quality decision analysis that can help put things in the right perspective and guarantee quality decisions even if it is impossible to guarantee the outcome of such decisions. In this paper we review quantitative and qualitative decision-making techniques from literature. We also present practical cases where qualitative evaluations guide project teams to choices beyond the quantitative evaluation results.

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Luta (Manolescu), Daniela Alice, Adrian Ioana, Daniela Tufeanu, Daniela Ionela Juganaru, and Bianca Cezarina Ene. "FINANCIAL MANAGEMENT ELEMENTS SPECIFIC TO INVESTMENTS APPLICABLE IN EDUCATIONAL SYSTEMS." In Sixth International Scientific-Business Conference LIMEN Leadership, Innovation, Management and Economics: Integrated Politics of Research. Association of Economists and Managers of the Balkans, Belgrade, Serbia, 2020. http://dx.doi.org/10.31410/limen.2020.337.

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Our starting point is the definition and classification of investments, both financial and accounting. Thus, in a financial sense, an investment represents the change of an existing and available amount of money, with the hope of obtaining a higher but probable income in the future. In the accounting sense, an investment is the allocation of an amount available for the purchase of an asset, which will determine the future financial flows of income and expenses. Investments can be classified into two categories: domestic investments - consist of the allocation of capital for the purchase of machines, equipment, constructions, licenses, patents, etc. Their purpose can be to reduce costs, increase production, improve quality, increase market share, etc.; foreign investments - consist of capital investments in shares in other companies. They are also called financial investments and aim to increase the value of the company and diversify sources of income. We also analyze in this article the investment decision. The investment decision is the most important financial decision which a manager has to make. An investment usually involves allocating large sums of money in the long run, with a relatively high degree of risk. We also present and analyze both the stages of establishing an investment decision and the methods of evaluating an investment project. The article also presents management elements regarding the investment recovery term; discounted net value method, investment risk assessment.

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McClure, Wallace. "Decision criteria for a reusable launch vehicle investment decision." In AIAA Defense and Civil Space Programs Conference and Exhibit. Reston, Virigina: American Institute of Aeronautics and Astronautics, 1998. http://dx.doi.org/10.2514/6.1998-5139.

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Reports on the topic "Investment Decision"

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Jung, Kooyul, Yong-Cheol Kim, and Rene Stulz. Investment Opportunities, Managerial Decisions, and the Security Issue Decision. Cambridge, MA: National Bureau of Economic Research, October 1994. http://dx.doi.org/10.3386/w4907.

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Jiang, Zhengyang, Cameron Peng, and Hongjun Yan. Personality Differences and Investment Decision-Making. Cambridge, MA: National Bureau of Economic Research, March 2023. http://dx.doi.org/10.3386/w31041.

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Gollier, Christian, and Richard Zeckhauser. Collective Investment Decision Making with Heterogeneous Time Preferences. Cambridge, MA: National Bureau of Economic Research, April 2003. http://dx.doi.org/10.3386/w9629.

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Lenhart, S. Modeling and Analysis in Support of Decision Making for Technological Investment. Office of Scientific and Technical Information (OSTI), June 2003. http://dx.doi.org/10.2172/814390.

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Nascimento, José Rente. Forest Investment Attractiveness Index: Usefulness for Sector Management. Inter-American Development Bank, June 2006. http://dx.doi.org/10.18235/0006881.

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This presentation discusses how the Forest Investment Attractiveness Index (IAIF) and the Process to Improve the Business Climate for Forest Investment (PROMECIF) can be useful to improve forest sector governance. The general objective of the IAIF is to measure the business climate for investments in the sustainable forest business. The IAIF allows the systematic, periodic, quantitative and more rigorous analyses of the factors that affect the success of forest direct investment and business decision making. This presentation was created for a side event to the 24th Session of the Latin American and Caribbean Forestry Commission that took place on June 26th, 2006, in Santo Domingo, the Dominican Republic.

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Gandelman, Néstor, and Alejandro Rasteletti. Credit Constraints, Sector Informality and Firm Investments: Evidence from a Panel of Uruguayan Firms. Inter-American Development Bank, March 2013. http://dx.doi.org/10.18235/0011452.

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This paper explores whether the extent of informality in a sector affects a firm's investment decision directly or indirectly through a credit availability channel. The dataset used in the estimation of the econometric models consists of an unbalanced panel of Uruguayan firms for the period 1997-2008. The results suggest that financial restrictions affect investment decisions in Uruguay, as an increase in credit to the private sector translates into higher investment rates. A one percentage point increase in overall credit growth translates into a one half percent increase in investment rates. It is also found that, although there is no direct effect of informality on the firm investment decision, there is an indirect effect through the borrowing channel. More specifically, financial restrictions reduce the amount of investment undertaken by Uruguayan firms, the effect being smaller if the firm operates in a sector with lower informality.

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Muchametyanova, R. I., and A. V. Ramazanova. The algorithm of decision support for the implementation of an investment and innovation project. Ailamazyan Program Systems Institute of Russian Academy of Sciences, August 2023. http://dx.doi.org/10.12731/ofernio.2023.25187.

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Harkreader, S. A., and D. L. Ivey. The energy investment decision in the nonresidential building sector: Research into the areas of influence. Office of Scientific and Technical Information (OSTI), April 1987. http://dx.doi.org/10.2172/6880625.

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Vaughan, William J., and Sergio Ardila. Economic Analysis of the Environmental Aspects of Investment Projects. Inter-American Development Bank, December 1993. http://dx.doi.org/10.18235/0011617.

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This working paper develops upon the idea that economic analysis has a definite role to play in informing decision makers about the desirability of going ahead with an investment project designed to improve environmental quality and also that the role of precision in this matter is not trivial. The authors focus mainly on the costs and benefits of projects directly aimed at natural resource or environmental quality improvement, and the costs implied by the mandatory environmental assessment of investment projects whose primary purpose is not environmental. Also included is a review of IDB environmental procedures and the IDB's experience with mitigating measures and costs.

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Parra Torrado, Mónica, and María Angélica Arbeláez. Innovation, R&D Investment and Productivity in Colombian Firms. Inter-American Development Bank, April 2011. http://dx.doi.org/10.18235/0011194.

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This paper attempts to establish a formal relationship between innovation and productivity using Colombian firm-level data. It is found that the production of goods and services new to the firm and to the domestic market enhances firms' sales per worker, and innovation that results in introducing new goods and services to the international market boosts both sales and Total Factor Productivity (TFP). Innovation in processes likewise improves firms' productivity and sales. Finally, innovation in marketing and management increases sales per worker and enhances TFP when investment is made in Research and Development. The paper also studies the factors behind firms' decision to invest in innovation, the intensity of such investment and the returns to investment in innovation.

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