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1
Smith, Michael J. "Accounting Conservatism and Real Options." Journal of Accounting, Auditing & Finance 22, no. 3 (July 2007): 449–67. http://dx.doi.org/10.1177/0148558x0702200305.
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I address the interaction between accounting conservatism and real options in both a staged investment and abandonment model. An accounting policy biased toward classifying a Good (Bad) project as Bad (Good) is conservative (aggressive). The accounting signal is optimally conservative when the ex ante unconditional expected terminal value is less than the second investment (staged investment) or value of the asset in its alternative use (abandonment). The relative size of the second investment is a proxy for the degree of sequentiality of the project. Because research and development projects typically require more sequential investment than fixed assets projects, the staged investment results are consistent with the differential treatment of these types of investment under U.S. Generally Accepted Accounting Principles.
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Zhang, Yindong, Kaili Xiang, Chuan Ding, and Tao Chen. "Staged Venture Capital Investment considering Unexpected Major Events." Discrete Dynamics in Nature and Society 2017 (2017): 1–8. http://dx.doi.org/10.1155/2017/9427285.
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This paper presents a dynamic model of capital financing, taking into consideration unexpected major events occurring within continuous time model. We are considering a special jump-diffusion model first described by Samuelson (1973) while using traditional geometric Brownian motion. This paper seeks to accurately show the innovative project valuation when unexpected major events occur and get the analytical results of the project option value. Furthermore, we analyzed the impact of multistaged financing; results indicated that both sources of uncertainty positively impact the project option value; particularly, the option price when considering unexpected major events occurrence is larger than the option price without unexpected major events. Based on a comparative-static analysis, new propositions for optimal amount of investment and optimal level of project are derived from simulations.
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Rodriguez‐Paz, Enrique, and Richard Heuser. "Staged CTO PCI : The investment that pays dividends." Catheterization and Cardiovascular Interventions 96, no. 5 (November 2020): 1036. http://dx.doi.org/10.1002/ccd.29342.
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Hu, Wei, Kang Ren Huang, Zhi Yan Liu, and Min Du. "The Staged Decision Model of Key Grid Project: Based on the Real Option Theory." Advanced Materials Research 1008-1009 (August 2014): 827–30. http://dx.doi.org/10.4028/www.scientific.net/amr.1008-1009.827.
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With the continuous development of electric power construction and electricity market reform, power grid investment are facing more and more uncertainties. As to the Key Project investment evaluation for grid, single stage evaluation model is too simple to make an appropriate decision, which overlooked the option value of the investment project. Therefore, in view of the periodical characteristics of investment decision-making process of the grid company’s key project, this article based on the real option analysis methods, and divide the power grid’s key projects into multiple stage according to time sequence, to evaluate each stage’s option value, and to determine the overall value of the grid company’s key investment projects, which has also provided an new train? of thought for the assessment of risk investment projects.
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Wu, Meng, and Jiefeng Yang. "The optimal exit of staged investment when consider the posterior probability." Journal of Industrial & Management Optimization 13, no. 2 (2017): 1105–23. http://dx.doi.org/10.3934/jimo.2016064.
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Huang, Chao, Yan Li, Xiang Hong Lai, and Xiao Qin Li. "Optimal Cleaning Power Generation Investment Strategy in a Carbon Tax and CO2 Emission Trading Framework." Advanced Materials Research 347-353 (October 2011): 2805–10. http://dx.doi.org/10.4028/www.scientific.net/amr.347-353.2805.
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This paper studies a two-staged cleaning energy investment problem under uncertainty. It analyzes how a power generation firm may proceed with staged generation capacity investment and deployment of the carbon capture device through real options approach. The results indicate that, because of the variation fluctuation of electricity price, the investor tends to delay investing when the electricity price is lower, whereas the higher price-price ratio of CO2 and electricity is helpful for him to deploy ahead the carbon capture device, the main reason is that the yields from the sale of CO2 emission allowances can compensate him foe the higher operation cost of it.
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Hilliges, Rita, Eberhard Steinle, and Bernhard Böhm. "Case study on the implementation of deammonification for the process water treatment of Munich WWTPs." Water Science and Technology 65, no. 10 (May 1, 2012): 1895–902. http://dx.doi.org/10.2166/wst.2012.084.
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The two-staged WWTP ‘Gut Grosslappen’ has a capacity of 2 mio. PE. It comprises a pre-denitrification in the first stage using recirculation from the nitrifying second stage. A residual post-denitrification in a downstream sand filter is required in order to achieve the effluent standards. Presently the process water from sludge digestion is treated separately by nitrification/denitrification. Due to necessary reconstruction of the biological stages, the process water treatment was included in the future overall process concept of the WWTP. A case study was conducted comparing the processes nitritation/denitrititation and deammonification with nitrification/denitrification including their effect on the operational costs of the planned main flow treatment. Besides the different operating costs the investment costs required for the process water treatment played a significant role. Six cases for the process water treatment were compared. As a result, in Munich deammonification can only be recommended for long-term future developments, due to the high investment costs, compared with the nitritation/denitritation alternative realizable in existing tanks. The savings concerning aeration, sludge disposal and chemicals were not sufficient to compensate for the additional investment costs. Due to the specific circumstances in Munich, for the time being the use of existing tanks for nitritation/denitritation proved to be most economical.
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Saxena, Swami Prasad, and Ishan Shanker. "DYNAMICS OF EXTERNAL DEBT AND CAPITAL FLIGHT IN INDIA." Scholedge International Journal of Management & Development ISSN 2394-3378 3, no. 2 (March 11, 2016): 49. http://dx.doi.org/10.19085/journal.sijmd030203.
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<p>Countries at early stages of development have small stocks of capital and are likely to have investment opportunities with rates of return higher than those in advanced economies. The external debt for productive investment within reasonable levels enhances economic growth, but beyond certain levels additional indebtedness reduces growth. The mounting burden of debt servicing and debt crisis motivates capital flight, a paradoxical situation in which resources are flowing out of developing countries. This paper investigates the relationship between external debt and capital flight via TSLS (Two Staged Least Square Method). The results indicate positive relationship between external debt and capital Flight in India.</p>
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Yang, Wenke, Qianting Ma, Meile Tian, Lei Wang, and Jianmin He. "The Staged Financing Selection Mechanism for Government to Maximize the Green Benefits of Start-Ups." Mathematical Problems in Engineering 2021 (June 17, 2021): 1–13. http://dx.doi.org/10.1155/2021/9921355.
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In this study, we investigate the most common forms of government grant in green start-ups, which are appropriation, interest-free bank loans, and tax subsidies. These mechanisms are used to mitigate the problem of higher research costs and sunk costs of start-ups on green innovation and help venture investors better monitor the business plan, asset use, and agency cost and regularly collect information of start-ups to retain the right to terminate financing projects and improve the efficiency of them. The aim of this work is to develop a theoretical model of the agency among the government, the venture capitalists who only pursue monetary income, the strategy investors who pursue strategic objectives and monetary income, and the entrepreneur who takes into account both the influence of different forms of government grant on entrepreneur financing at a different stage and the improved monitoring process of venture investors owe to the staged capital infusion of government. The model shows that the optimal staged financing decision is given when the first target of the government is to achieve social welfare optimization and the secondary goal of maximizing green benefits. Moreover, the model explains the optimal staged financing decision of venture investors and equity stake share in different rounds. Ultimately, we find the optimal staged financing portfolios for green start-ups to acquire venture investment, reduce the staged financing uncertainty, and help the government realize a national green innovation strategy.
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Babcock-Lumish, Terry L. "Venture Capital Decision-Making and the Cultures of Risk: An Application of Q Methodology to US and UK Innovation Clusters." Competition & Change 9, no. 4 (November 2005): 329–56. http://dx.doi.org/10.1179/102452905x55930.
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This paper presents a comparative perspective on risk perception and decision-making within United States (US) and United Kingdom (UK) entrepreneurial communities since the bursting of the technology, media, and telecommunications (TMT) bubble in 2000. Using an empirical approach drawn from political science literature, this paper relies upon interviews and Q (rather than R) methodology to analyze the experiences and insights of individuals throughout innovation investment communities, including entrepreneurs, investment angels, venture capitalists, and institutional investors. This study sheds light on post-boom behavioral trends and risk propensities, in relation to actors' interrelated decision-making processes. From decision-makers' reported and ranked perceptions, factor analysis in conjunction with additional contextual evidence was used to identify four influential groups of individuals with shared approaches to early-stage innovation investment: American-style managers, junior venture professionals, experienced angel investors, and committed business builders. From this study of the social and economic geography of American and British innovation communities, implications are drawn for understanding the effectiveness of staged-funding networks in the innovation process and subsequently for community and economic development. Furthermore, this analysis represents a foray into application of Q methodology to the study of economic geography generally and innovation clusters specifically.
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Abraham, Thomas, and Viet T. Dao. "A longitudinal exploratory investigation of innovation systems and sustainability maturity using case studies in three industries." Journal of Enterprise Information Management 32, no. 4 (July 3, 2019): 668–87. http://dx.doi.org/10.1108/jeim-07-2018-0149.
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Purpose Sustainability innovation systems (SIS) refer to the investment in information systems (IS) to enable business sustainability within stages of sustainability maturity. A prior framework proposes that the roles played by IS to support sustainability depend on the stage of sustainability maturity achieved. The purpose of this paper is to empirically examine these propositions. Design/methodology/approach This study conducts longitudinal case studies of six companies across three industries. Data were collected from the companies’ Global Reporting Initiative (GRI) reports over a six-year period from 2009 to 2015. Findings The study provides initial empirical support for the proposition of the SIS framework that companies follow a staged path to sustainability maturity and that IS play specific roles as companies mature. Research limitations/implications The findings encourage future research to take a longitudinal and holistic view of sustainability and IS. Future research could also collect a more comprehensive data set for statistical analysis. Practical implications The study provides guidelines for practitioners in making decisions about companies’ investments in IS for sustainability, particularly within individual stages of sustainability maturity. Social implications The study goes beyond environmental sustainability to empirically show that companies are deploying IT assets for social sustainability too. Originality/value The multiple-longitudinal case study approach provides an intimate understanding of companies’ actual usage of IS resources to enable sustainability. The study is also among the very early research using GRI reports for research on IS and sustainability, showing that these reports are a rich secondary data source for IS scholars.
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Lyles, Marjorie, Dan Li, and Haifeng Yan. "Chinese Outward Foreign Direct Investment Performance: The Role of Learning." Management and Organization Review 10, no. 3 (November 2014): 411–37. http://dx.doi.org/10.1017/s1740877600004381.
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AbstractWe define the ‘Chinese way’ of internationalization as oriented toward experimental learning, in contrast to traditional internationalization models, such as the Uppsala model. Analyses of survey data of private Chinese firms that have made outward foreign direct investments (OFDI) show that only 50 percent follow the Uppsala model in which firms follow a staged approach. The other 50 percent follow more risky explorative OFDI approaches in which the firms learn on the ground experimentally from their OFDI. We further investigate how the founders’ congenital learning, firms’ inward international experience, potential absorptive capabilities, and motivations to learn, influence OFDI performance and how learning outcomes mediate these relationships. We show that the relationship between the firm’s potential absorptive capacity and its OFDI performance is fully mediated by what the firm learned from the OFDI project. Also the firm’s motivation to learn directly affects performance and is partially mediated by what the firm has learned.
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Сульповар, Лев, Lev Sulpovar, Татьяна Богачева, and Tatyana Bogacheva. "System of Region Management: a Framework Concept." Servis Plus 8, no. 2 (June 3, 2014): 40–45. http://dx.doi.org/10.12737/3891.
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The article covers the issues concerning the development of a framework concept for the system of management. The authors prove that the problem of socio-economic development of a region is to be
considered from the perspective of a systemic approach principles and methods, viewing regions as an integral socio-economic system, whose subsystems include the state subsystem (with regions regarded as constituent entities of the federation), municipal formations, and a range of private and legal entities. The authors identify the major objectives of region management and consider ways of aligning the social and economic development of regions by overcoming the existing inter-regional disproportions. The framework concept, as proposed by the authors, is to recognize the economic development of a region, the development of the major constituents of the regional complex, and the region´s social development. Special attention is paid to the issues of implementing the investment policy and substantiating the staged of its implementation. Planning the investment activity, involving the rationale for long-term and medium-term goals of the investment process, as well as ways to achieve the goals, is seen as a vital element of investment policy.
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Bolgan, Marta, Silvia S. Pedroso, Marta Picciulin, Paulo J. Fonseca, and M. Clara P. Amorim. "Differential investment in acoustic communication during social interactions in two closely-related sand goby species." Behaviour 150, no. 2 (2013): 133–52. http://dx.doi.org/10.1163/1568539x-00003041.
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Communication signals provide key information for conspecific recognition, mate choice and rival assessment. The painted goby Pomatoschistus pictus and the common goby P. microps are two closely-related sand goby species, often sympatric and with an overlapping breeding season. In this study we staged male–male and male–female interactions and compared visual, tactile and acoustic behaviour in both species. Sound production in the common goby is here accounted for the first time. We observed some differences in visual behaviour and a striking divergence in the use of tactile and acoustic communication during courtship and agonistic interactions. We further describe differences in drumming signals with social context in the painted goby. This study suggests a divergence in communication in two closely-related sand goby species and emphasizes the importance of further research concerning the role of multimodal communication in closely-related species.
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Feder, Judy. "How to Make Better Investment Decisions in Unconventional Projects." Journal of Petroleum Technology 72, no. 12 (December 1, 2020): 41–42. http://dx.doi.org/10.2118/1220-0041-jpt.
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This article, written by JPT Technology Editor Judy Feder, contains highlights of paper URTEC 198318, “How Not to Squander Billions on Your Next Unconventional Venture,” by Creties Jenkins, SPE, and Mark McLane, SPE, Rose and Associates, prepared for the 2019 SPE/AAPG/SEG Asia Pacific Unconventional Resources Technology Conference, Brisbane, Australia, 18-19 November. The paper has not been peer reviewed. During the past decade, hundreds of unconventional oil and gas projects have failed to deliver the value sought by shareholders. Two common mistakes have been focusing on production attainment instead of value creation, and incorrectly thinking that enough was understood about a given reservoir to proceed with development. Companies must implement a staged approach that exposes capital incrementally in a responsible fashion and an assurance process that provides a framework for conducting and reviewing work so that mistakes may be analyzed to influence future decisions. The complete paper provides a work flow for making better decisions about investing in unconventional projects. Introduction In 2019, an analysis of 16,000 unconventional wells operated by 29 of the largest producers in Texas and North Dakota revealed that these companies spent $112 billion more in cash over the past 10 years than they generated from operations. A primary contributor to this shortfall was optimistic production forecasts based on a small number of early wells. These types of projections lead companies to commit to development projects before they understand the true variability in well performance and, most importantly, whether the average well will be commercial (i.e., able to pay for the cost to drill, complete, and tie in). Commercial is defined here as attaining a present value greater than zero at the corporate discount rate. If this is 10%, a net present value (NPV) of zero equates to a 10% rate of return. The Challenge More than 50 shale plays across North America have been tested for their production potential. Of these, only a dozen or so (approximately 25%) have been commercially developed. Thus, the first order of business is to focus on the right play in the right basin. But even within a productive basin, operators need to be in the commercial fairway, which is commonly a fraction of the total basin area regardless of play type. The probability of commercializing a new unconventional play in a frontier basin is low. Although a well can be drilled practically anywhere in the basin and encounter mobile hydrocarbons, this does not reduce the commercial risk relative to conventional plays. Instead, it transfers the risk (threat of fiscal loss) to later stages, in which it must be shown that unconventional wells can produce at sufficient rates, costs can be reduced to make these wells commercially viable, and results are repeatable.
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Zhang, Jun-Xia, and Jiang Feng Zhang. "Analysis of Chemical Reaction Kinetics Behavior of Nitrogen Oxide During Air-staged Combustion in Pulverized Boiler." Bulletin of Chemical Reaction Engineering & Catalysis 11, no. 1 (March 10, 2016): 100. http://dx.doi.org/10.9767/bcrec.11.1.431.100-108.
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<p>Because the air-staged combustion technology is one of the key technologies with low investment running costs and high emission reduction efficiency for the pulverized boiler, it is important to reveal the chemical reaction kinetics mechanism for developing various technologies of nitrogen oxide reduction emissions. At the present work, a three-dimensional mesh model of the large-scale four corner tangentially fired boiler furnace is established with the GAMBIT pre-processing of the FLUENT software. The partial turbulent premixed and diffusion flame was simulated for the air-staged combustion processing. Parameters distributions for the air-staged and no the air-staged were obtained, including in-furnace flow field, temperature field and nitrogen oxide concentration field. The results show that the air-staged has more regular velocity field, higher velocity of flue gas, higher turbulence intensity and more uniform temperature of flue gas. In addition, a lower negative pressure zone and lower O<sub>2</sub> concentration zone is formed in the main combustion zone, which is conducive to the NO of fuel type reduced to N<sub>2</sub>, enhanced the effect of NO<sub>x</sub> reduction. Copyright © 2016 BCREC GROUP. All rights reserved</p><p><em>Received: 5<sup>th</sup> November 2015; Revised: 14<sup>th</sup> January 2016; Accepted: 16<sup>th</sup> January 2016 </em></p><p><strong>How to Cite</strong>: Zhang, J.X., Zhang, J.F. (2016). Analysis of Chemical Reaction Kinetics Behavior of Nitrogen Oxide During Air-staged Combustion in Pulverized Boiler. <em>Bulletin of Chemical Reaction Engineering & Catalysi</em>s, 11 (1): 100-108. (doi:10.9767/bcrec.11.1.431.100-108)</p><p><strong>Permalink/DOI</strong>: <a href="http://dx.doi.org/10.9767/bcrec.11.1.431.100-108">http://dx.doi.org/10.9767/bcrec.11.1.431.100-108</a></p><p><strong><br /></strong></p>
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O’Neill, Bruce. "Segmenting the city: McDonald’s, the Metro, and the mobilization of the middle classes underground." Environment and Planning A: Economy and Space 52, no. 7 (February 11, 2020): 1313–31. http://dx.doi.org/10.1177/0308518x20906169.
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Following Romania’s accession into the European Union (EU) in 2007, a wave of foreign direct investment quickly transformed its capital city, Bucharest, into a global leader in business services. With this new economy came new middle classes whose turn toward auto-mobility materially overwhelmed the city center. To preserve the quality and character of the city, urban planners and bureaucrats proposed to “mobilize” the middle classes underground by incorporating global brands, such as McDonald’s, inside Metro stations. This essay details these ongoing efforts to segment vertically the city above from the city belowground, professional elites from the middle classes, through an analysis of the staged materiality of two McDonald’s restaurants located one beneath the other. How and to what effect, this essay asks, is the urban underground staged to mobilize the middle classes? This is a historical and ethnographic line of inquiry taken from Bucharest that resonates with cities the world over, where the demands of development have pushed cities not just upwards into the sky, and outwards toward the periphery, but also deep underground in ways that vertically segment the experience of urban life.
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Herrera-Echeverri, Hernán, Jerry Haar, and Juan Guillermo Salazar-Duque. "Private Equity and Devaluation in Emerging Countries." Global Economy Journal 17, no. 1 (March 2017): 20160048. http://dx.doi.org/10.1515/gej-2016-0048.
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Abstract: Using a comprehensive database with 51 emerging countries studied over a 13 year period, we find that devaluation increases the PE investment. More years of annual devaluation have a higher impact in promoting PE investment. Conclusions are confirmed for total and high technology PE investments, but not for early stage PE investments. Devaluation does not benefit PE investment in firms in the early stages of development. Devaluation itself is not sufficient to encourage the appetite of investors; however, some country-level competitiveness variables are indispensable for making a country more fertile for PE investment when a devaluation occurs – the high relevance of competiveness increasing in the long term.
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Akin, Jonathan A. "Intra- and inter-sexual aggression in the ground skink (Scincella lateralis)." Canadian Journal of Zoology 76, no. 1 (January 1, 1998): 87–93. http://dx.doi.org/10.1139/z97-172.
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Differences in reproductive investment between males and females can be a basis for both intra- and inter-sexual conflict. In a series of laboratory experiments, I staged intra- and inter-sexual contests for food between pairs of adult ground skinks (Scincella lateralis). Males were significantly more aggressive than females. Size asymmetry between contestants significantly affected intrasexual behavior between females, as smaller individuals exhibited avoidance behaviors more frequently than larger individuals. Aggression was more prevalent in intersexual contests than in intrasexual contests, and males bit females significantly more often than females bit males. Females captured significantly fewer prey in the presence of a male than in control tests, but showed more avoidance behaviors in intersexual contests than did males. These results suggest that intersexual conflict may be important in social interactions in ground skinks, particularly with respect to spatial distribution.
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Macovei, Valentina, and Birgit Hagen. "Entrepreneurial Logics in International Entry Mode Decisions." International Journal of Applied Behavioral Economics 10, no. 2 (April 2021): 1–19. http://dx.doi.org/10.4018/ijabe.2021040101.
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The aim of this paper is, through a two-staged literature review, to identify the role and impact of causation, effectuation, and bricolage logics during internationalization and, in particular, in entry-mode choice. The results show that entrepreneurs in their internationalization decisions can follow one, a combination, or a sequence of logics depending on the venture's or its international lifecycle and experience, the (perceptions of) internal and external context, and network relations. Likewise, entry modes such as JVs, strategic alliances, and export can be driven by different logics or their combination, while foreign direct investment is predominantly driven by causation logic. Bricolage has received little attention in extant work and, thus, is a future avenue for research. Research, although growing in importance, falls short of longitudinal studies, which are necessary to identify shifts, and, importantly, performance consequences of different decision-making logics.
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Jackson, Denise A., and Susan Edgar. "Encouraging students to draw on work experiences when articulating achievements and capabilities to enhance employability." Australian Journal of Career Development 28, no. 1 (February 19, 2019): 39–50. http://dx.doi.org/10.1177/1038416218790571.
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Employability drives higher education policy yet despite the investment in developing ‘rounded’ graduates, students experience difficulties in articulating their achievements and capabilities during graduate recruitment. The purpose of this research was to trial and evaluate a career development intervention aimed at drawing on work experiences when applying for graduate roles. Students ( N = 136) from two contrasting disciplines, Business and Physiotherapy, and two institutions participated in a two-staged intervention. A focus group was also conducted with career advisors ( N = 9) to examine student engagement with career development learning. Findings indicated that students were confident in their ability to draw on relevant work experience in job applications and showed low levels of engagement in the intervention due to time constraints from their study commitments. Despite the varied contexts of the degree programmes investigated, similarities in engagement and student feedback were noted. Factors contributing to weak engagement in career provision along with strategies for improvement are presented.
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Ash, Andrew, and Ian Watson. "Developing the north: learning from the past to guide future plans and policies." Rangeland Journal 40, no. 4 (2018): 301. http://dx.doi.org/10.1071/rj18034.
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The development of northern Australia has been a policy ambition for over a century and the desire to do so continues unabated. Attempts to develop the north, especially for more intensive forms of agriculture are not new. In this paper we explore past agricultural developments, including some that persist today and those that have failed, to determine critical factors in success or failure. This was done with the aim of identifying where most effort should focus in supporting contemporary agricultural developments. Although climatic and environmental constraints, including pests and diseases, remain a challenge for agricultural development in these largely tropical rangelands, it is mainly factors associated with finances and investment planning, land tenure and property rights, management, skills, and supply chains, which provide the critical challenges. In particular, the desire to scale-up too rapidly and the associated failure to invest sufficient time and resources in management to learn how to develop appropriate farming systems that are sustainable and economically viable is a recurrent theme through the case study assessment. Scaling up in a more measured way, with a staged approach to the investment in physical capital, should better allow for the inevitable set-backs and the unexpected costs in developing tropical rangelands for agriculture. There are two notable differences from the historical mandate to develop. First is the acknowledgement that development should not disadvantage Indigenous people, that Indigenous people have strong interests and rights in land and water resources and that these resources will be deployed to further Indigenous economic development. Second, assessing environmental impacts of more intensive development is more rigorous than in the past and the resources and timeframes required for these processes are often underestimated.
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Baldi, Francesco, and Lenos Trigeorgis. "Valuing human capital career development: a real options approach." Journal of Intellectual Capital 21, no. 5 (May 19, 2020): 781–807. http://dx.doi.org/10.1108/jic-06-2019-0134.
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PurposeThere has been a long controversy in the literature on assessing the value of human capital – a long-sought but elusive and challenging task. The ability to quantify flexible human capital (FHC) has been a shortcoming in extant literature. We make a meaningful contribution by showing how real options (RO) methodology can be used to quantify FHC and we provide complementary case study evidence from Fortune 500 “best companies to work for” that the value of employee career development is higher in more volatile sectors in line with real options theory (ROT).Design/methodology/approachThis article provides a prescriptive RO methodology for adopting a more flexible, staged SHRM organizational perspective suitable for uncertain environments, and explores its theoretical and empirical implications through the dual use of RO methodological modelling and multi-case study data involving ten Fortune 500 companies. The case study approach is aimed at creating managerially relevant knowledge. The relevance of our approach to managerial practice is shown through guidelines on how a company like Google might use the RO methodology to estimate the career development option value so as to inform its internal development program for employees to create and capture value.FindingsOur focus is on the staging flexibility in HR as exemplified by the internal career development process. This process can be viewed as a multi-stage (compound) option involving various types of HC uncertainty, HC options, and HR practices. We model staging HR deployment via the option to promote staff employees to middle-level management, itself embedding the option to rise to the top management. To empirically validate our valuation approach, we present case study research that enables quantifying the option value of a career development program and allows assessing how much a mismatch exists in a sample of ten public U.S. companies.Research limitations/implicationsThe overall staging quantification idea is important as it offers guidance as to how to value HR as a sequential investment process under uncertain demand or skill conditions. The analysis is limited to the extent that staged career development might interact with other types of human capital (e.g. switch and learning) options and HR practices (e.g. training). Human resources may also interact with other organizational intangibles, such as brand equity. Our analysis also does not account for psychological considerations from the employees' perspective, such organizational commitment facilitating trust to enable reciprocal commitments, which remains a fruitful subject for future extensions.Practical implicationsROT can provide useful guidance and tools for HR scholars and managers. By keeping tabs on HR-based flexibility value and focusing on the key input variables driving HR flexibility, HR managers can determine the flexibility value unleashed from staging the deployment of HC resources in the face of unanticipated demand and skills shifts.Originality/valueThis is the first paper that attempts to quantify the value of staged career development flexibility using the RO methodology. This article will be cited for its innovativeness in being the first to quantify the value of human capital's contribution to corporate value creation and provide objective evaluation in the context of organizational career-development programs. Besides providing useful insights to scholars, the article also demonstrates how the RO methodology can apply to actual companies and inform managerial practice offering guidelines of relevance to HR practitioners on how to quantify the value of staged HC development in an uncertain environment.
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Holman, C. D'Arcy J., John A. Bass, Diana L. Rosman, Merran B. Smith, James B. Semmens, Emma J. Glasson, Emma L. Brook, et al. "A decade of data linkage in Western Australia: strategic design, applications and benefits of the WA data linkage system." Australian Health Review 32, no. 4 (2008): 766. http://dx.doi.org/10.1071/ah080766.
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Objectives: The report describes the strategic design, steps to full implementation and outcomes achieved by the Western Australian Data Linkage System (WADLS), instigated in 1995 to link up to 40 years of data from over 30 collections for an historical population of 3.7 million. Staged development has seen its expansion, initially from a linkage key to local health data sets, to encompass links to national and local health and welfare data sets, genealogical links and spatial references for mapping applications. Applications: The WADLS has supported over 400 studies with over 250 journal publications and 35 graduate research degrees. Applications have occurred in health services utilisation and outcomes, aetiologic research, disease surveillance and needs analysis, and in methodologic research. Benefits: Longitudinal studies have become cheaper and more complete; deletion of duplicate records and correction of data artifacts have enhanced the quality of information assets; data linkage has conserved patient privacy; community machinery necessary for organised responses to health and social problems has been exercised; and the commercial return on research infrastructure investment has exceeded 1000%. Most importantly, there have been unbiased contributions to medical knowledge and identifiable advances in population health arising from the research.
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Baig, Umair, and Manzoor Ahmed Khalidi. "A grounded theory exploration of appraisal Process of Capital Investment Decisions — Capex Appraisal Model (CAM)." Independent Journal of Management & Production 11, no. 7 (December 1, 2020): 2778–804. http://dx.doi.org/10.14807/ijmp.v11i7.1231.
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The purpose of this study was to explore the appraisal process of capital investment decisions. The study adopted the grounded theory approach for the exploration of the objective. In the first stage, 48 in-depth interviews were conducted from finance executives of PSX listed companies. After transcription of all of the interviews, NVIVO software was used for analysis. Theoretical sampling was used in this study. Initially, 35 concepts and 19 categories were obtained from the initial coding of 48 cases. In the next stage, using focused coding, 19 initial categories into 09 categories were classified. These 09 categories represent each stage of the appraisal process of capital investment. These stages are Idea generation, Strategic planning, Analysis, Risk Evaluation, Selection, Mode of finance, Implementation, Monitoring and control, and Post-audit. The development of appraisal process stages is the novelty of this study and key theoretical contribution. Findings provide an in-depth understanding of the systematic way that industry appraises capital investments. This study opens grounds for new knowledge for academia, adds to relevant literature and reduces the gap between the corporate world and academia.
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Uryniak, Marek. "Evaluation of the economic effectiveness of investments in commercial real estate using the switch option." Investment Management and Financial Innovations 16, no. 4 (December 24, 2019): 315–24. http://dx.doi.org/10.21511/imfi.16(4).2019.27.
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Deciding whether an investment should be made or not requires an evaluation of the investment’s effectiveness. The choice of evaluation methods is related to the basic objective conditioning the implementation of the investment project. It often happens that the conditions in which a specific investment has been formulated change and so does the basis for its implementation, and it is necessary to adapt it to the new conditions. These new conditions could be recognized during the exploitation of the project so it is hard to take them into consideration at the stage of planning. The paper aims to evaluate the investments in commercial real estate with the option of alternative way of usage. This evaluation was carried out using the classical (discounted) methods of economic efficiency of investments and real options. Two groups of pricing real options models were used in the study: binomial models and continuous-time models. Results based on varied valuation methods lead to different conclusions. Unlike the discount methods, the real option approach allows valuing the project flexibility (which cannot be valued by classical methods). This value of flexibility in certain conditions indicates what should be the path of development of the project related with the transformation of commercial real estate for other purposes.
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MATTILA, T., M. MANNINEN, and P. RIKKONEN. "Management of investment processes on Finnish farms." Agricultural and Food Science 17, no. 1 (December 4, 2008): 18. http://dx.doi.org/10.2137/145960608784182263.
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Structural change in agriculture means a continuous need for investing in farm production. It is essential for the sustainable operations and the economy of the farm that such investments are successful. In this research, different stages of the investment process of farms were studied as well as the use of information and the success perceived during the investment process. The study was carried out with mail surveys and telephone interviews on the Finnish Farm Accountancy Data Network (FADN) farms. The most challenging investments were in animal husbandry buildings and, as to these investments, the comparison of alternatives was the most challenging stage. For most investments, the planning phase was considered more challenging than the implementation. Before making the decision, farmers acquired information from many sources, of which the opinion of the main customer and the experiences of fellow farmers were the most valued. Some of the products considered were so new on the market that it was not easy to get adequate information and, furthermore, the information given by suppliers was not always accurate. Decision-making was supported by calculations, but qualitative factors had a dominating role. Large basic decisions were made relatively quickly, while details needed a longer time to process. In general, farm managers were satisfied with their investments. Improvements in work quality and quantity were especially mentioned and generally qualitative factors were the ones first in mind when evaluating the successfulness of the investment.;
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Khomutenko, Lyudmila, and Anna Usenko. "ALTERNATIVE INVESTMENTS AS A METHOD OF INVESTMENT PORTFOLIO DIVERSIFICATION: INVESTMENTS IN THE WINE COLLECTIONS." Economic Analysis, no. 27(4) (2017): 180–87. http://dx.doi.org/10.35774/econa2017.04.180.
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Introduction. Each investor is interested in obtaining maximum income at all stages of the investment process. There is a need to hedge investment risks to increase the overall level of expected profitability. Nowadays, solving the problem of choosing ways to diversify an investment portfolio requires expanded interpretation. Purpose. The article aims to carry out the analysis of current state of the market of alternative investments; to investigate the efficiency of investing in non-traditional tangible assets; to identify the potential benefits and risks for an investor from investing in a wine collection. Results. The article investigates functioning of modern market of alternative investments, in particular investments in wine collections. Qualitative and quantitative analyses of the current level of alternative investments development around the world have been conducted. The paper has also considered the main aspects of non-traditional investment activities along with their key advantages and disadvantages. The risks which are associated with attracting investment in wine collections have been analysed.
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Levandivsky, O. "Theoretical essence of investment and investment-one process in investing firm energy enterprises." Ekonomìka ta upravlìnnâ APK, no. 2(151) (December 16, 2019): 96–103. http://dx.doi.org/10.33245/2310-9262-2019-151-2-96-103.
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The article examines the theoretical nature of investment and the investment process in investing in agricultural enterprises. It is noted that the investment theory began to take shape simultaneously with the world market, the development of which was caused by the great geographical discovery of the XV-XVI centuries. The investment theory of the era of mercantilism is considered. It was proved that they identified the wealth of the nation with money, and money with precious metals. In the works of physiocrats, investment was considered as a process aimed at restoring and increasing capital, with the help of which not only production in agriculture is carried out, but national wealth as a whole grows. Representatives of the school of neoclassical direction, it was determined that the proposal is governed by the bank interest rate, which acts as the offer price in the capital market, and demand - the rate of return on invested capital, which gets the entrepreneur. It is proved that in the broad sense of Keynesian investment theory can be considered protectionist, since it promotes the protection of the national economy from foreign investment. Based on an analysis of investment research, leading foreign and domestic scientists have made certain conclusions in determining the nature of investments and the investment process in investing in agricultural enterprises. Considered the main factors affecting the volume of investment. Focused on an investment project. It has been proven that the development and implementation of an investment project (primarily a production focus) under market conditions consists of three phases: pre-investment (a preliminary study before the final investment decision); investment (design, contract, contract, construction) and production (phase of economic activity of the enterprise). In turn, these phases are divided into stages and stages: investment motivation, forecasting and programming of investments, rationale for investment, insurance of investments, government regulation of the investment process, investment planning, financing of the investment process, design and pricing, provision of investments with material and technical resources, development of investments, preparation for production, previous delivery and acceptance into operation, final Dacha facility. The significance of the investment component of the development and operation of an agricultural enterprise is described, the role of which is exacerbated in the context of the instability of the economic environment and the permanent lack of financial resources. Keywords:investment project, financial resources, net profit margin, lending rate, inflation.
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Kvist, Jon. "The post-crisis European social model: developing or dismantling social investments?" Journal of International and Comparative Social Policy 29, no. 1 (February 2013): 91–107. http://dx.doi.org/10.1080/21699763.2013.809666.
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This paper offers a theoretical and empirical contribution to our understanding of the changing European social models in wake of the economic crisis and the promotion of social investments by the European Commission. Theoretically, the article provides a conceptual framework for comparative macro-analysis of social investments that takes into account how social investment policies and returns vary over the life-course and are interdependent. Empirically, the article uses this conceptual framework to examine whether EU policy strategies and national welfare reforms follow a social investment approach. Analysing developments of social investment strategies and policies in three life-stages, the article finds that many EU strategies embody elements of a social investment strategy whereas the impact of the crisis on the national level differs across countries, life-stages, and policies. In most countries, the overall policy impact of the crisis seems to be small on childcare coverage, large on youth polarization, and to increase retirement ages. The crisis will be felt in years to come with reduced life-income for younger cohorts, lower fertility laying the ground for intergenerational conflicts, and migration of skilled youth implying returns of social investments made in southern parts of Europe benefitting northern parts. That said, the overall evidence points towards social investments taking a larger role in Europe after the crisis. However, the result is unlikely to become a uniform European social investment model as the countries most in need of social investments are also the countries least likely to develop high-quality social investments.
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BOROBOV, V. N. "THE ROLE OF INVESTMENT IN THE DEVELOPMENT OF MACROECONOMICS." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 1, no. 4 (2021): 20–25. http://dx.doi.org/10.36871/ek.up.p.r.2021.04.01.002.
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The scientific article reveals the essence of investment at the macroeconomic level. Investments in various fields of activity, regions, and the national economy as a whole are considered. The stages of the historical development of investment theory, the role of investment in macroeconomics, the dynamics of investment, and the prospects for investment development in Russia are described in some detail. A set of measures is proposed to stabilize the economy and improve the investment climate.
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Bell, Lindsay W., Len J. Wade, and Mike A. Ewing. "Perennial wheat: a review of environmental and agronomic prospects for development in Australia." Crop and Pasture Science 61, no. 9 (2010): 679. http://dx.doi.org/10.1071/cp10064.
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Perennial wheat could improve grain production systems in Australia by rectifying many environmental problems such as hydrological imbalance, nutrient losses, soil erosion, and declining soil carbon and soil health. There are also potential direct production benefits from reduced external inputs, providing extra grazing for livestock in mixed farming systems, as well as benefits for whole-farm management which may offset lower grain yields. In addition to universal issues of domestication and breeding of perennial wheat, specific challenges for perennial wheat in Australia’s dryland systems will include tolerance of water deficit and poor soil environments, and the risks of hosting foliar pathogens over summer. Temperate perennial forage grasses could indicate the potential distribution and traits required in perennial wheat adapted to more arid environments (e.g. summer dormancy). Several Australian native and exotic perennial relatives of wheat could also provide sources of disease resistance, and tolerance of soil acidity, drought, salinity and waterlogging. Still, several farming systems could accommodate perennial wheat with inconsistent persistence in some environments. While developing perennial wheat will be challenging, there is significant opportunity in Australia for perennial wheat to diversify current cropping options. The risks may be minimised by staged investment and interim products with some immediate applications could be produced along the way.
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Sholokhova, Maria. "Investment cooperation in the BRICS countries." BRICS Journal of Economics 4, no. 1 (December 28, 2020): 24–32. http://dx.doi.org/10.38050/2712-7508-2020-1-4-3.
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The purpose of the study is to analyze the current stage of investment cooperation between the BRICS countries in terms of current investment projects and legislation regulating investment interaction. The methods of the research are as follows: investigating the issue of investment cooperation between different member states and the legal framework for such cooperation; finding sources such as books, magazines, journals, legal acts, and websites; collecting all the necessary data; critical analysis of the data on the issue of the research; developing an outline. The investment interaction under study is presented at three different levels: outward foreign direct investments from the BRICS countries; foreign direct investments into the BRICS countries; and investment cooperation between the BRICS countries. All levels of investment cooperation are regulated both at the national and international levels.
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Fedorov, H. O. "Administrative and Legal Principles of Foreign Investment in Ukraine." Bulletin of Kharkiv National University of Internal Affairs 85, no. 2 (May 29, 2019): 78–86. http://dx.doi.org/10.32631/v.2019.2.07.
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The peculiarities of administrative and legal principles of foreign investment from the point of view of complex analysis have been considered, considering the current stage of historical development of the state system. Taking into account doctrinal research and own scientific achievements, it has been determined that nowadays it is extremely urgent to implement the whole set of practical measures aimed at achieving qualitative changes in the issues of attracting foreign investment and strengthening the control over the quality level of investments in the economy of Ukraine from the standpoint of administrative and legal principles.
It has been determined and proved that it is expedient to apply the phased approach of administrative and legal regulation of foreign investment – two-step assessment of the quality of foreign investments. In particular, the investor should be evaluated at the first step. This means that the purpose and goals of his investment activity, as well as his investment, business and economic reputation must be assessed. The second stage begins with the evaluation of the investment project, the priority for the economic development of the territorial community, the level of innovation, environmental compatibility, payback period, value of investments, etc. The basis for this approach should be the system for evaluating the quality of the subjects and objects of the investment process. The result of applying this approach should be the definition of the quality of the investment project and definition of the priority for its implementation in accordance with territorial interests. In this regard, it would be appropriate to make a clear distinction between the functions and responsibilities of the institutions that are going to assess the quality of the investments. According to the author, it would be rational to expand the main directions of activity of the Ukrainian Center for Foreign Investment Promotion and to create a special department that would deal with the quality control over the relevant foreign investments coming to the Ukrainian economy. The same structures should be formed at the local level.
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Popov, Savva O. "The state role in the investments development in Russia’s digital economy." Izvestiya of Saratov University. New Series. Series Economics. Management. Law 21, no. 2 (May 25, 2021): 135–40. http://dx.doi.org/10.18500/1994-2540-2021-21-2-135-140.
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Introduction. The current stage of development is characterized by widespread digitalization of almost all economy spheres. One of the key areas for the developing digital economy in the Russian Federation is investments and investment relations. The state supports and develops the investments in data-driven formation of the digital economy. The article examines some of the subjects of the country’s influence on the mechanisms for expanding the innovation investment sphere, regarding local development specifics. Theoretical analysis. There are two categories for considering government influence on investments in the digital economy – the investment climate and the country’s investment policy. The key part of the research process is a set of economic, sociological and statistical methods, as well as applied scientific analysis in digitalization field of public institutions, institutional investment and investment relations as part of the economic system. Empirical analysis. Analyzed topical aspects of state role on the investments development in a rapidly changing environment, divided them into six fundamental categories. The process is presented in the forms of activating the legislative process and the testing of regulatory “sandboxes”. The article describes the caution of the Russian Federation in choosing a supported investment industry, its type and accompanying regulatory legal acts. Results. The research shows the development aspects description chosen by the state to support investment in digital economy conditions and a fact analysis of the state methods of influence on investment relations in the context of global and country economy digitalization.
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Sərxan oğlu Quluzadə, Alxan. "Directions for attracting foreign investment in the non-oil sector of Azerbaijan." SCIENTIFIC WORK 67, no. 06 (June 21, 2021): 91–96. http://dx.doi.org/10.36719/2663-4619/67/91-96.
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The purpose of attracting foreign investment in the non-oil sector is to reduce and gradually eliminate dependence on oil revenues. However, foreign investment does not go to production, but to non-profit areas such as construction and warehousing. Azerbaijan offers tax rates and customs duties to foreign investors. However, gaps in the legislative and legal system do not escape the attention of foreign investors. Foreign investors make investment decisions after assessing the economic and political situation in the country. Reforms in the economy and the legal system in recent years will be the basis for increasing foreign investment in the non-oil sector. One of the government's goals in the Strategic Roadmap for National Economic Development until 2025 was to "increase the share of foreign investment in the non-oil sector in GDP to 4 percent." Investments by Turkish companies in the non-oil sector of our country have long outpaced investments in other countries, except for a few years. In particular, investments in Azerbaijan's non-oil sector came from Russia, the United States, the United Kingdom, the United Arab Emirates, France and Germany. However, the volume of investments from Russian and Swiss companies has recently increased. Countries with developed infrastructure attract investors faster. Investors consider such countries as countries with a favorable investment climate. Therefore, it is necessary to form a developed infrastructure in our country and eliminate the shortcomings in the industry. Many factories are unable to operate at full capacity and bring the product to the final product stage due to lack of raw materials, auxiliary equipment and materials. Key words: foreign direct investment, non-oil sector, investment environment, protection of foreign investments, investment policy
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Beniušytė, Erika, and Aurelija Zonienė. "Financial model of investments to fixed assets." Buhalterinės apskaitos teorija ir praktika, no. 16 (July 5, 2019): 105–13. http://dx.doi.org/10.15388/batp.2014.no16.10.
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The analysis of the investments to fixed assets revealed that there is no common system in evaluation of investments to fixed assets. The financial model of investments to fixed assets is recommended. The model consists of these stages: 1) the need determination of investments in fixed assets; 2) financing sources selection of the investments in fixed assets; 3) the calculation of financial benefits of the investments in fixed assets; 4) risk identification of the investment in fixed assets; 5) decision making.
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Finnigan, Gerard A. "Innovating Disaster Health and Medical Emergency Responses for an Emerging Global Threat." Prehospital and Disaster Medicine 34, s1 (May 2019): s140—s141. http://dx.doi.org/10.1017/s1049023x1900311x.
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Introduction:The global health threat posed by the ongoing deterioration in natural ecosystems and damage to our physical environment is growing at a rapid pace. Less recognized is the threat from natural hazard disasters, which concentrate contaminants from the damaged environment and expose large vulnerable populations to life-threatening medical conditions and disease. Currently neither international nor any national health and medical emergency response protocols or programs have prepared health responses to protect the health of communities in such events.Aim:This study performed a retrospective health risk assessment on two recent events where such impacts unfolded, namely the 2015 southeast Equatorial Asia smoke haze disaster and the 2016 Melbourne thunderstorm asthma epidemic. The primary objective was to test if the characterization of health risk could have been identified earlier and catastrophic levels of mortality and morbidity reduced.Methods:The study employed a two-staged retrospective health risk characterization assessment. The first step applied the UNISDR (2017) framework for health risk disaster assessment combing a thematic and targeted word literature review to identify the level of health and medical risk knowledge prior to each event. The second stage applied a risk characterization matrix developed using ISO and Australian Health Department semi-quantitative health assessment standards.Results:The 2015 southeast Equatorial Asia smoke haze disaster risk assessment was characterized as an extreme health risk and the 2016 Melbourne thunderstorm asthma epidemic characterized as a high health risk.Discussion:Innovative medical response approaches are urgently needed to mitigate the growing health risk to whole populations from natural hazard disasters compounded by deteriorating natural ecosystems and the physical environment. This requires emergency medical and health teams to recognize the two-tailed human health risk from natural disaster hazards, along with investment in advanced planning, environmental risk surveillance, specialist training, technical guidance, and multi-sector coordination.
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Kirillova, Ariadna, and Anna Gorelova. "Methodical approach to determination of costs at the initial stages of the project research of gas-supply systems." MATEC Web of Conferences 170 (2018): 01002. http://dx.doi.org/10.1051/matecconf/201817001002.
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The article deals with topical issues at the pre-investment stage of project design to justify decisions on the feasibility of further investment and the transition to the next stage of design - the development of project documentation. At the pre-project stage, there is often a situation when the parameters of structures have not yet been determined, and capital investments must be evaluated. Methodological approaches to determining the cost of gasification facilities and the estimated model of cost calculations at the stage of investment justification with the help of enlarged indicators that improve the accuracy and validity of calculations at the stage of pre-design studies are substantiated. It is shown that the enlarged indicators used at the stage of investment justification form the regulatory basis for determining the cost of gasification facilities, for estimating capital costs, as well as for evaluating the effectiveness of investments in the selection of project options. The object of the study adopted electrically welded steel pipes and polyethylene pipes for gas pipelines. Evaluation and forecasting of the cost of gas distribution systems in the article are proposed using regression models depending on time and diameter of the pipe. The regression dependences of the cost of steel and polyethylene pipes of all standard sizes and confidence intervals for the cost of pipes allow to estimate also possible errors of the forecast cost estimation.
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Boosey, Luke, Philip Brookins, and Dmitry Ryvkin. "Information Disclosure in Contests with Endogenous Entry: An Experiment." Management Science 66, no. 11 (November 2020): 5128–50. http://dx.doi.org/10.1287/mnsc.2019.3488.
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We use a laboratory experiment to study the effects of disclosing the number of active participants in contests with endogenous entry. At the first stage, potential participants decide whether to enter competition, and at the second stage, entrants choose their investments. In a 2[Formula: see text]2 design, we manipulate the size of the outside option, [Formula: see text], and whether the number of entrants is disclosed between the stages. Theory predicts more entry for lower [Formula: see text] and the levels of entry and aggregate investment to be independent of disclosure in all cases. We find empirical entry frequencies decreasing with [Formula: see text]. For aggregate investment, we find no effect of disclosure when [Formula: see text] is low but a strong positive effect of disclosure when [Formula: see text] is high. The difference is driven by substantial overinvestment in contests with a small, publicly known number of players contrasted by more restrained investment in contests in which the number of players is uncertain and may be small. The behavior under disclosure is explained by a combination of joy of winning and entry regret. This paper was accepted by Yan Chen, decision analysis.
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KYSHAKEVCYH,, BOHDAN, and MARYNA NAKHAEVA. "INTEGRATED ASSESSMENT OF INVESTMENT ATTRACTIVENESS OF REGIONS IN UKRAINE." HERALD OF KHMELNYTSKYI NATIONAL UNIVERSITY 296, no. 4 (June 2021): 51–58. http://dx.doi.org/10.31891/2307-5740-2021-296-4-8.
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The article proposes a model for the integral assessment of the investment attractiveness of the regions in Ukraine, taking into account seven blocks of their socio-economic development: economic development, investment activity, financial self-sufficiency, labor market and entrepreneurship, infrastructure, socio-economic development, the effectiveness of regional investment policy. The article substantiates the need to take into account the effectiveness of regional investment policy when assessing investment attractiveness and the feasibility of differentiating such assessments depending on the type of investor and the type of investment. The authors propose to take into account such features of the investment process by using DEA-analysis and selection of appropriate weight coefficients that determine the share of each block of indicators regarding socio-economic development of regions in their overall investment attractiveness. Since the VRS assumption or BCC model in DEA analysis provides for a change in efficiency in accordance with a change in the scale of operations, to assess the effectiveness of regional investment policy, we further used the CRS assumption about the constancy of the scale of operations, since the size of investment flows in the Ukrainian economy is still relatively small. As a result, Kiev, Dnepropetrovsk and Kiev regions turned out to be the most attractive for both long-term and short-term investments. The Kherson region turned out to be the least attractive for long-term investments. In the case of short-term investments, the Sumy region showed the lowest value of the integral indicator of investment attractiveness. Some regions showed a significant difference in the value of the integral indicator of investment attractiveness for short and long-term investments, that once again emphasizes the importance of the initial stage of assessing the investment attractiveness of the region, namely, identifying the type of investor, his goals and investment period.
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Johnson, Molly Wilkinson. "Mega-Events, Urban Space, and Social Protest: The Olympia 2000 Bid in Reunified Berlin, 1990–1993." Central European History 52, no. 4 (December 2019): 689–712. http://dx.doi.org/10.1017/s000893891900089x.
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AbstractThis article explores the competing visions of urban planning that influenced newly reunified Berlin's highly contested bid, undertaken between 1990 and 1993, to host the 2000 Olympic Games. The governing city parliament coalition, mainstream media, and private corporations embraced the Games as the key to Berlin's future. The Olympics would draw investors, reunify infrastructure, foster a common “Berlin” identity among newly reunited Berlin's residents, upgrade borderland spaces and eastern neighborhoods, and boost Berlin's prominence as a global city. Alternatively, numerous protesters from both East and West, proclaiming their right to provide meaningful input into the uses of urban space, staged creative protest actions highlighting the negative social, political, and environmental effects of the proposed Games on Berlin and its neighborhoods. Ultimately, supporters and opponents diverged on the matter of who had the right to determine the use of urban space: the city government and private corporations or city residents who believed they knew best what benefited their own neighborhoods. In the end, Berlin lost its bid to host the 2000 Olympic Games. Nonetheless, creative resistance efforts designed to offer democratic alternatives to growth- and investment-oriented urban planning and to protect residents’ rights to codetermine urban space, often emerging in response to planned mega-events and large development projects, persist more than two decades later, not only in Berlin but in other major metropolises around the globe.
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Doty, Aaron. "An examination of the value of the Victorian Government's investment logic map as a tool for front-end evaluation of investment proposals." Evaluation Journal of Australasia 8, no. 1 (March 2008): 26–39. http://dx.doi.org/10.1177/1035719x0800800105.
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This article considers a tool called an ‘investment logic map’ which was developed by the Victorian Government Department of Treasury and Finance to assist in testing the rationale for proceeding with investment proposals (particularly information and communications technology investments) while they are still at an early stage of development. The article views this tool through the lens of evaluation theory and practice, and situates the investment logic map within the practice of front-end evaluation. From this perspective, the article considers some of the drawbacks of the investment logic map as an example of program logic. The article argues that, because of the pivotal role the investment logic map plays in the management and review of investments through their lifecycle (as part of the government's broader Investment Management Standard), it needs to be underpinned by more robust evaluation practice. The article concludes by suggesting a way in which the strengths of the investment logic map can be retained, while reducing the risks inherent in its current use.
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Maisky, R. A., G. Z. Nizamova, and Yu A. Pavlova. "MODELS FOR FORMING BUSINESS PROJECT INDICATORS AT THE PRE-PROJECT STAGE OF INVESTMENT EFFICIENCY ASSESSMENT IN THE FORM OF CAPITAL INVESTMENTS." Bulletin USPTU Science education economy Series economy 3, no. 33 (2020): 132–38. http://dx.doi.org/10.17122/2541-8904-2020-3-33-132-138.
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When assessing the value of capital investments, they often do not pay due attention to those capital investments that are associated with the formation of a sufficient amount of working capital, focusing on fixed assets. Meanwhile, capital investments in the project working capital formation are necessary to cover the costs of the preparatory process, inventory formation, and the creation of a reserve for the period until payments are received for receivables on products sold. During the period of acquisition of assets, one of the important components of investment costs, along with capital expenditures in fixed assets and intangible assets, is net working capital, which is the cost of increasing working capital (current assets). It should also be noted that when evaluating the effectiveness of real investment projects at the stage of feasibility study, it is neither possible nor necessary to calculate net discounted income for individual periods, since at this stage of analysis, it is unlikely that annual differentiation of costs and results will be provided. Thus, when determining the effectiveness of an investment project at the stage of pre-feasibility study of the main decisions, it is justified to use simplified calculations of operating results based on annuity models. An important problem should be recognized as modeling the mechanism for returning invested amounts. To ensure the adequacy of the algorithm taking into account the reimbursement of non-recurring costs in the calculation of investment performance should take into account the flow of funds sinking Fund (in the form of means for reproduction of fixed assets and the depreciation; or funds that ensures return on investment). In the same section, the organization's assets that remain after the end of the business project should be taken into account. In the article, the authors present the improvement of the model for forming business project indicators at the pre-project stage of evaluating the effectiveness of investments, taking into account all these aspects.
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Hussain, Asif, Xue Yang, Lu Yali, and MS Nazir. "Foreign Direct Investment (FDI) by Asian and European Union (EU) Countries: The Investment Effects of Pharmaceutical Sector." International Journal of Economics and Finance 12, no. 4 (March 10, 2020): 16. http://dx.doi.org/10.5539/ijef.v12n4p16.
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The importance of Foreign Direct Investment (FDI) in current era is clearly seen in the investment made by carious companies abroad and also receiving international investment by local companies. The countries are involved in outwards and inwards FDI to receive maximum profit and long-term benefits from various FDI projects. In this regard, outwards foreign direct investment (OFDI) is also getting increased importance along with inwards FDI. The current study thereby intends to investigate the OFDI trends of companies from European Union and Asian countries whereby focusing on pharmaceutical sector particularly. Moreover, it is noteworthy that there is a rapid growth in pharmaceutical industries around the world due to advanced technology and infinite amassed need for treatment and cure options. Therefore, current study targets three European Union countries and three Asian countries, including both developed and developing nations, and investigates the OFDI patterns of pharmaceutical sector of countries. The results reveal that EU states are effective in both attracting FDI and making investments abroad and in domestic markkets; however, Netherland among three states has the highest performance in FDI inflows and outflows patterns. The analysis of Asian countries indicated that they are less effective in terms of their FDI flows compared to EU states. This is because of their developing stage and less economic growth stages. However, among three countries, Turkey presents the highest performance in attracting FDI from international markets, while Israel has highest performance in making investments abroad among three countries.
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Philippov, A. G., and E. V. Gruzdeva. "Venture Capital Investments Models in Russia and the USA as Key Factor for Development of Innovative Enterprises." MIR (Modernization. Innovation. Research) 10, no. 4 (December 30, 2019): 501–15. http://dx.doi.org/10.18184/2079-4665.2019.10.4.501-515.
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Purpose: this article aims to determine key characteristics features of venture capital investments models in the context of the development of innovative enterprises. For this purpose the authors conducted analysis of the current state and key differences of venture capital investments models in Russia and in the USA, determined fields and ways for further improvement of domestic models of venture capital investments.Methods: to achieve the stated goal, theoretical research methods - abstraction, analysis and synthesis were used. Adoption of these methods, led to analysis of the theoretical basis of venture capital investments models and identification of key features having the greatest practical significance. The models of venture capital investments in Russia and the USA were studied, and a quantitative and qualitative comparative analysis of the elements characterizing the models of venture capital investments was carried out. The study was based on the data published by the national associations of venture investors and the information database of venture capital companies Pitchbook.Results: this article reveals the importance of venture capital investments as the main factor affecting the innovative development of the Russian economy. In modern conditions, venture capital investments are a key tool that helps bring financial resources to young innovatively active companies. This article summarizes results of the study of the theoretical base of venture capital investments models and the historical dynamics of venture capital investments in Russia and the USA. A comparative analysis revealed similarities and differences between the following elements, characterizing the models of venture capital investments in Russia and the USA: stages of development of venture capital companies, types of investors and sources of venture financing, distribution of venture investments by industry, exit strategies and organizational forms of venture capital investments. The paper as well summarizes fields and ways for further improvement of models of venture capital investments based on a comparative analysis.Conclusions and Relevance: based on the conducted research and comparative analysis of venture capital investment models in Russia and the United States, the proposals for further improvement of Russian venture capital investment models were developed and presented in the article.
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Gabriele, Jeanne M., Diane L. Gill, and Claire E. Adams. "The Roles of Want to Commitment and Have to Commitment in Explaining Physical Activity Behavior." Journal of Physical Activity and Health 8, no. 3 (March 2011): 420–28. http://dx.doi.org/10.1123/jpah.8.3.420.
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Background:Several theories and models have been proposed to explain decisions in changing and adopting behavior but few address the intricacies of behavioral maintenance. The current study assesses the utility of the Investment Model, which identifies satisfaction, investments, and involvement alternatives as predictors of commitment and continued behavior, in predicting physical activity behavior.Methods:Participants (N = 267) completed questionnaires about physical activity and commitment. Structural equation modeling assessed relationships among 2 types of exercise commitment (want to or enthusiastic commitment, have to or obligatory commitment), 3 commitment determinants (satisfaction, investments, and alternatives), and physical activity (minutes of physical activity, stage of behavior change).Results:Want to commitment, but not have to commitment, was related to stage of exercise behavior change and time spent in physical activity. Satisfaction and investments were positively related to want to commitment; whereas, satisfaction, investments, and alternatives were positively related to have to commitment. The model explained 68% and 23% of the variance in time spent in physical activity and stage of behavior change, respectively.Conclusions:This study provides support for the application of the Investment Model to physical activity and suggests that want to commitment may be important for explaining and predicting sustained physical activity behavior.
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Ustinovichius, Leonas. "DETERMINATION OF EFFICIENCY OF INVESTMENTS IN CONSTRUCTION." International Journal of Strategic Property Management 8, no. 1 (March 31, 2004): 25–43. http://dx.doi.org/10.3846/1648715x.2004.9637505.
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Decision making is associated with ranking problems aimed to obtain a set of preference order of solutions. People can make mistakes choosing the best object for investments. Due to high cost of such mistakes, such a choice should be well founded. A major goal of paper is to develop a theoretical basis for creating a decision support system aimed to increase building construction and reconstruction investment efficiency by applying multiattribute decision making approaches and mathematical modelling. To achieve the goal, the following problems have to be solved: to analyse new models currently used in developing investment strategies in building construction and reconstruction, to make a classification of construction investment projects and to describe the stages of determining the efficiency of construction investments, to create a family of multiattribute decision methods to be used in the analysis of investment projects in building construction and reconstruction, to create multiple attribute decision support system based on the multiattribute methods developed for determining the efficiency of construction and reconstruction investment projects.
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ERİSLİK, Kubilay, and Özlem DENİZ BAŞAR. "ESTIMATION OF THE SECTORS OF THE INVESTMENTS MADE ON VENTURE CAPITAL COMPANIES WITH ARTIFICIAL NEURAL NETWORKS AND MULTIPLE LOGISTIC REGRESSION ANALYSIS." Volume 7, Issue 4 7, no. 4 (October 31, 2020): 297–308. http://dx.doi.org/10.15637/jlecon.7.022.
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Venture capital companies undergo three different phases as core, growth and maturity phases as of their establishment. There are different stages in these phases in terms of providing the finance. The stage of providing finance for the first introduction of the product to the market in the core phase is called Serial A, the stage of providing the increasing finance need during the continuation of the growth is called Serial B and the stage of providing the finance needed in the growth and maturity phases is called Serial C and it continues as Serial D. In this study, it has been aimed to estimate the sectors of the venture capital companies by benefiting from the phases and amounts of the investments made by the investors to the venture capital companies. In the study, 5 sectors with the highest investment from investors have been selected and the investment data of 709 venture capital companies taking place in this sector have been benefited. Artificial Neural Networks and Multiple Logistic Regression Analysis have been used in the estimation of the sectors covering the companies with the data attained from the investment series. When the attained results have been examined, it has been determined that the results attained with Artificial Neural Networks are more successful than the results attained with Multiple Logistic Regression analysis.
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Jenei, Tünde, and Judit T. Kiss. "Legal Regulations System in the Implementation Process of Geothermal District Heating Investments." YBL Journal of Built Environment 7, no. 1 (January 1, 2019): 38–47. http://dx.doi.org/10.2478/jbe-2019-0003.
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Abstract Geothermal investments change both the natural and the built environment. They affect water resources under the Earth’s surface as well as the natural landscape itself. Regulations of authority permit procedures apply to various subunits of the environment and occur at certain stages of the investment. This paper examines how transparent and consistent regulations are as well as what difficulties the investors could have during the different authorisation processes, which could influence the implementation of the project. Process analysis was used to examine domestic and international regulatory practices. We examine the stages where the required authorisation procedures for the construction of geothermal investments occur in the implementation process and what role the individual permits play in the process of the investment. The research found that the authorization process is extremely long and very complicated.