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1
Adilieme, Chibuikem, und Obinna Umeh. „Sensitivity of Real Estate Investment Return to Market Return Index: The Case of Nigerian Real Estate Investment Trusts“. Baltic Journal of Real Estate Economics and Construction Management 8, Nr. 1 (01.01.2020): 197–207. http://dx.doi.org/10.2478/bjreecm-2020-0014.
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Abstract The level of sensitivity of every investment option to a market index is crucial to investors. Sensitivity analysis of individual or a set of returns on investments to market return index predicts the reaction of the investment(s) to changes in the market index; informs investors of prospective performance of different investments types; as well as assists the investors in making appropriate decisions on investment selections. This paper assessed how sensitive indirect real estate investments in Nigeria were to market index. The three companies whose asset returns were considered in this study were real estate investment trusts listed in the Nigerian Stock Exchange. The data used in this study were sourced from annual reports of the listed companies, and reports of the Nigerian Stock Exchange. The beta coefficients were used to determine the sensitivity of the selected stocks to market return index. The study found a very low and insignificant beta coefficient among various real estate investments and market return index. Hence, there is no relationship between the market return index and the returns on the Real Estate Investment Trusts listed in the Nigerian Stock Exchange.
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Galanova, Alexandra, Maria Lutsenko und Jorge Zamorano. „Investments in Contemporary Russian Artwork as an Alternative Form of Investment“. Journal of Corporate Finance Research / Корпоративные Финансы | ISSN: 2073-0438 14, Nr. 3 (30.09.2020): 7–18. http://dx.doi.org/10.17323/j.jcfr.2073-0438.14.3.2020.7-18.
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In the last decades of the 20th century, various classes of alternative investments have become increasingly popular among investors. During this time, art as a form of alternative investment attracted attention not only from potential buyers but also from academic scholars. Unfortunately, only a few of the newly published papers contained any quantitative analysis with regard to art’s investment performance. Besides, even a smaller amount of research was devoted to the analysis of Russian art markets. Therefore, the purpose of this work is to evaluate the efficiency of investments in the artworks of contemporary Russian painters and to compare the effectiveness of these investments with the effectiveness of investments in stock, bond and real estate markets in Russia and the USA. For this research, we first conduct a hedonic regression analysis on the data available for 1950-2019 time period. After that, we build a hedonic price index for the canvases of contemporary Russian artists. According to the results, the trend of this index reiterates largely the price behavior for world contemporary art market. However, the results of this study indicate that investments in contemporary Russian art do not outperform investments in instruments of Russian and American capital and real estate markets. These results were derived by applying the CAPM model which demonstrated that Russian art as a form of alternative investment is not advisable for the purposes of diversification of investment portfolios. Based on these findings, contemporary Russian art in general can be considered an unattractive instrument for Russian and foreign investors.
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Jurevičienė, Daiva, und Agnė Jakavonytė. „Alternative Investments: Valuation of Wine as a Means for Portfolio Diversification“. Verslas: Teorija ir Praktika 16, Nr. 1 (30.03.2015): 84–93. http://dx.doi.org/10.3846/btp.2015.606.
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This article analyses wine as an alternative investment tool and its relevance for investment portfolio diversification. Advantages and disadvantages of alternatives, benefits and weakness and peculiarities of investing in wine are systemised. In addition, the article looks at statistical data analysis of fine wine market and compares wine with other investment tools. The examination is based on three investment instruments: US equities (using SandP 500 index), bonds (using US 20-Year treasury constant maturity rate/DGS20) and wine (based on Fine Wine Investable index) using 1993–2012 (end of year) data. The investment portfolios made with two and three above-mentioned investment tools basing on H. Markowitz’s investment portfolio theory and effective curves are presented. It was found that return on investments only from equities and bonds or wine and one of these traditional instruments are signally less than from the investment mix of all three tools. Furthermore, portfolios made only from equities and bonds provide the lowest return compared to others. Choosing from two investments portfolios, results of bond/wine portfolios propose higher return with the same risk level compared to equities/wine portfolio. Consequently, despite some slowdown of wine index during financial crises, wine relevance for portfolio diversification in post crises period was proved.
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Sun, Bing, Hongyu Liu und Siqi Zheng. „A COMPARATIVE STUDY ON THE INVESTMENT VALUE OF RESIDENTIAL PROPERTY AND STOCKS“. International Journal of Strategic Property Management 8, Nr. 2 (30.06.2004): 63–72. http://dx.doi.org/10.3846/1648715x.2004.9637508.
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As real estate, residential property comprises not only the value of utilization, but also the value of investment, which is somewhat different from that of securities such as stocks and bonds. In this paper, the investment value of newly‐built residences and stocks are compared and analyzed theoretically and empirically. Firstly, the paper summarizes the diversity of costs, risks, and benefits of these two investments. Secondly, by quoting the quarterly price/rent indices on the housing market and that at the stock exchange in Shanghai, the paper explores the variances of these two investments with respect to their risk‐return characteristics from 1993 to 2003. Thirdly, the paper discusses the correlations between residential property price/rent index, property/general stock price index, and Consumer Price Index (CPI). Finally, by utilizing the Capital Asset Pricing Model (CAPM), the systematic and the unsystematic risks of these investments are segregated and compared with each other, based on a series of assumptions. The result suggests, on a quarterly basis, that residential property investment produces a higher risk‐adjusted return than that of general stock and property stock investment. Because of a weak/negative correlation between residential property and stock returns, residential property is an ideal candidate to be included into the stock investment portfolio. Moreover, residential property and property stock can be used as effective hedges against inflation.
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Zaitsev O. „MODEL DEVELOPMENT OF INVESTMENT EFFICIENCY ASSESSMENT IN INNOVATION PROJECTS (Part 2)“. Vìsnik Sumsʹkogo deržavnogo unìversitetu, Nr. 2 (2019): 115–20. http://dx.doi.org/10.21272/1817-9215.2019.2-15.
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The mechanisms for calculating the effectiveness of innovative investments are complex, that is, they are estimated through a system of indicators. From this point of view, we believe that the inclusion in the mechanism of evaluating the effectiveness of investment projects of commodity product index and its harmonious "integration" into the system of financial and economic indicators can be one of the directions for the further development of evaluation methods of investment efficiency in innovative projects. Keywords: investments, innovations, efficiency, products, costs, profits, taxes.
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Feriyanto, Nur. „The effect of employment, economic growth, and investment on HDI: In provinces in Indonesia“. Journal of Economics, Business & Accountancy Ventura 19, Nr. 1 (31.07.2016): 1. http://dx.doi.org/10.14414/jebav.v19i1.537.
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This study aims to analyze the effect of Number of Working People (Employment), Economic Growth Rate (EGR), and Investment on Human Development Index (HDI) in Indonesia, partially and simultaneously. This study used investments consisting of Domestic Investment (DI) and Foreign Direct Investment (FDI). It used the method of analysis of panel data regression analysis with the data from thirty-three provinces in Indonesia from 2006 to 2013. The results indicate that the employment variables have positive and significant impact to HDI in Indonesia. It shows that EGR does not affect HDI in Indonesia. However, Domestic and foreign direct investments partially have positive and significant effect on HDI in Indonesia. Simultaneously, the variables employment, EGR, domestic and foreign direct investments have a significant effect on the HDI in Indonesia.
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Stradomski, Maciej, und Katarzyna Schmidt. „Investments of Polish Family Businesses“. Studia Humana 10, Nr. 3 (01.06.2021): 30–41. http://dx.doi.org/10.2478/sh-2021-0016.
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Abstract In this paper the authors address the issue of investments made by family businesses. Their study attempted to verify the level of investments made by Polish family businesses in comparison with the level of investments made by Polish non-family businesses. The study focused on the analysis of investment flows of Polish listed companies included in the WIG index for the years 2006-2018. A total of 233 companies were analyzed, including 177 non-family businesses and 56 family businesses. The results corroborated the argument that Polish listed non-family businesses invest much more money than family businesses. It was also observed that only a small percentage of companies in both groups invest their finances in research and development.
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Churuta, Ivan. „Ukraine’s position in international investment ratings“. Herald of Ternopil National Economic University, Nr. 2(88) (06.06.2016): 36–44. http://dx.doi.org/10.35774/visnyk2018.02.036.
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The article reasons that foreign direct investments play a crucial role in the economy of every world country, since they ensure the effective functioning of economy and economic growth. It is found that the volume of foreign direct investments into the economy of a certain country depends on the investment climate, whose main indicator is the position of countries in international investment ratings that allows us to evaluate the investment climate, possible investment risks and the degree of investment safety. The subject of the study is the investment climate in Ukraine and its position in the main international investment ratings. The research methods used in the study include theoretical generalization, comparison, abstraction, analysis and synthesis. The paper presents a list of the main international investment ratings that should be taken into account by potential investors while analyzing the investment climate and investment image of the country and considering the practicality of investing into the economy. The current position and dynamics of Ukraine’s rankings in these ratings are analyzed: according to Global Competitiveness index – 81st position among 137 countries; according to index of Economic Freedom – 150th position among 180 countries; according to Ease of Doing Business index – 76th position among 190 countries; according to Investment Attractiveness index – 134th out of 174 countries. Based on the analysis of Ukraine’s position in the main international investment ratings, it is concluded that the investment climate in Ukraine is not favorable; therefore, Ukraine needs to take measures to improve its investment climate and its positions in these ratings in order to attract foreign investment to the required extent.
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Vinodkumar, Nisa, und Hadeel Khalid AlJasser. „Financial evaluation of Tadawul All Share Index (TASI) listed stocks using Capital Asset Pricing Model“. Investment Management and Financial Innovations 17, Nr. 2 (15.05.2020): 69–75. http://dx.doi.org/10.21511/imfi.17(2).2020.06.
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The Kingdom of Saudi Arabia is strongly committed to stimulating savings culture in the local community by providing financial literacy in financial planning, investments, and budgeting. Inculcating the savings and investment behavior among the people will help materialize one of the elements of Saudi Vision 2030. Tadawul, being the most liquid stock market in the Middle East and North Africa, offers investors the ability to grow their capital with confidence through facilitating trading in different securities such as equities, debt instruments, and Exchange Traded Funds (ETFs). There is a great scope for investors to invest in the companies listed in Tadawul All Share Index (TASI) due to its strong economic fundamentals. The present study aims to apply the CAPM in Tadawul listed stocks, which will help in understanding the systematic and unsystematic risk associated with stocks, understanding their actual and theoretical return on stocks. The methodology adopted is the analysis of secondary data for all listed stocks in Tadawul using the Bloomberg terminal. The financial valuation includes elements like beta, alpha, correlation and standard deviation, expected return and actual return. The practical value obtained from the study will help investors go for undervalued stocks with lower beta, higher expected annual return, and lower systematic risks. Thus, the result shows the predicting power in KSA market and the scope for long-term investments by the investors to boost their savings and investment behavior and materialize one element of Vision 2030. AcknowledgmentThis research was funded by the Deanship of Scientific Research at Princess Nourah bint Abdulrahman University through the Fast-Track Research Funding Program.
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Wulandari, Diah, Dwi Ispriyanti und Abdul Hoyyi. „OPTIMALISASI PORTOFOLIO SAHAM MENGGUNAKAN METODE MEAN ABSOLUTE DEVIATION DAN SINGLE INDEX MODEL PADA SAHAM INDEKS LQ-45“. Jurnal Gaussian 7, Nr. 2 (30.05.2018): 119–31. http://dx.doi.org/10.14710/j.gauss.v7i2.26643.
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Stock investment is the planting of money in a securities that indicates the ownership of a company in order to provide benefits in the future. In obtaining optimal results from stock investments, investors are expected to create a series of portfolios. The portfolio will help investors in allocating some funds in different types of investments in order to achieve optimal profitability. For selection of optimal stocks representing LQ-45 Index, used 2 methods of Mean Absolute Deviation (MAD) method and Single Index Model (SIM) method. In MAD method, 5 best stocks are BBCA with weight 23%, INDF 8%, KLBF 23%, TLKM 23%, and UNVR 23%. While the SIM method of candidate portfolio obtained is AKRA with weight 15,459%, BBCA 48,193%, BBNI 5,028%,KLBF 0,258% and TLKM 31,062%. Portfolio performance meter is used by sharpe ratio. The value of sharpe ratio is 0,36754 for optimal portfolio using MAD method and 0,40782 for optimal portfolio using SIM method, this means that optimal portfolio using SIM method has better performance than MAD. Keywords: Investment, Portfolio, Index LQ-45, Mean Absolute Deviation, Single Index Model, Sharpe Ratio
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Potrykus, Marcin. „ASSESSMENT OF GOLD AND/OR CRUDE OIL AS INVESTMENTS FOR PORTFOLIO DIVERSIFICATION. A WARSAW STOCK EXCHANGE CASE STUDY“. Acta Scientiarum Polonorum. Oeconomia 18, Nr. 4 (30.12.2019): 77–84. http://dx.doi.org/10.22630/aspe.2019.18.4.47.
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The purpose of the study is to assess whether the inclusion of investments in gold and/or crude oil improves an investment portfolio consisting of shares of enterprises included in the WIG20 index (traditional investments). All possible combinations of investment portfolios with minimal risk and maximum efficiency were tested. The portfolios were determined based on Markowitz’s portfolio theory. All results were compared with a naive strategy. In total, nearly 55,000 investment portfolios consisting of three, four or five investments were constructed. The study showed that the application of portfolio theory contributes to obtaining better results than a naive strategy. The minimum risk portfolios that included gold and crude oil showed a risk reduction of 0.39 p.p. on average and a maximum cumulative loss of 7.85 p.p. on average. Portfolios with maximum efficiency achieved an average increase in the rate of return of the investment portfolio of 0.024 p.p. and an average increase in efficiency of 0.0256.
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BinMahfouz, Saeed, und M. Kabir Hassan. „Sustainable and socially responsible investing“. Humanomics 29, Nr. 3 (23.08.2013): 164–86. http://dx.doi.org/10.1108/h-07-2013-0043.
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PurposeThere is a great deal of research that has been done to investigate the investment characteristics of conventional socially responsible investment portfolios compared to their broader conventional counterparts. However, the impact of incorporating sustainability criteria into the traditional Sharia screening process has not so far been investigated. Therefore, the study aims to give empirical evidence as to whether or not incorporating sustainability socially responsible criteria in the traditional Sharia screening process has a significant impact on the investment characteristics of the Islamic investment portfolio.Design/methodology/approachThe paper examines the investment characteristics of four groups of investment portfolios mainly, Dow Jones Global Index, Dow Jones Sustainability World Index, Dow Jones Islamic Market World Index and Dow Jones Islamic Market Sustainability Index. To improve the robustness of the study, the analysis was carried out at different levels. First, absolute mean return and t‐test were used to examine whether the difference between the different groups of investments is statistically significant or not. Second, risk adjusted equilibrium models, both single‐index and Fama and French multi‐index, were employed. This is to control for different risk exposure and investment style bias associated with different investment portfolios examined.FindingsThe paper finds that neither the Sharia nor the sustainability screening process seems to have an adverse impact on the performance and systematic risk of the investment portfolios compared to their unrestricted conventional counterparts. Therefore, Muslim as well as socially responsible investors can choose investments that are consistent with their value systems and beliefs without being forced to sacrifice performance or expose to higher systematic risk.Originality/valueThe study contributes to the existing literature by giving new evidence on the impact of incorporating sustainability criteria into the traditional Sharia screening process that has not so far been investigated.
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Abdoh, Hussein Ali Ahmad, und Oscar Varela. „Product market competition, cash flow and corporate investments“. Managerial Finance 44, Nr. 2 (12.02.2018): 207–21. http://dx.doi.org/10.1108/mf-03-2017-0072.
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Purpose The purpose of this paper is to examine the effects of product market competition on capital spending (investments) financed by cash flow (CF), and the role of financial constraints (FC) on these effects. Design/methodology/approach The Herfindahl-Hirschman index of concentration measures competition. Earnings retention, working capital, the Kaplan and Zingales (1997) index and CF shortfalls measure FC. Regressions relating capital spending to competition are performed for the full sample, as well as financially constrained and unconstrained, and growth and value firms’ sub-samples. For robustness, large reductions in import tariffs are examined to exogenously measure competition, with the impact of these on capital spending tested via the difference-in-difference method. Findings The results show that competition fosters valuable investments when firms are financially unconstrained, especially for growth firms, and reduces these investments when they are financially constrained, especially for value firms. Practical implications The role of policy makers in alleviating FC should be focused toward growth firms that operate in competitive industries. As well, increasing financial pressure on value firms in competitive industries can have desirable effects, as it forces these firms to reduce investment inefficiency. Originality/value Many firm-specific and environmental factors drive the relation between competition and investment. Khanna and Tice (2000) find profitable firms increasing and highly levered firms decreasing investments in response to Wal-Mart’s entry into their markets. Jiang et al. (2015) suggest that environments with predictable growth drive a positive relation between competition and investments. This study claims that another factor that affects this relation is the firm’s level of FC.
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Saitkamolov, M., Z. Gaibnazarova und J. Cowie. „MODERN MODEL FOR ASSESSING THE EFFICIENCY OF INVESTMENTS ATTRACTED IN RAILWAY TRANSPORT“. Technical science and innovation 2020, Nr. 1 (31.03.2020): 34–42. http://dx.doi.org/10.51346/tstu-01.20.1-77-0049.
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The article analyzes the modern model for evaluating the improvement of investment activity efficiency and provides conclusions on the level of development of the current state of railway transport in the Republic of Uzbekistan. The economic effect of intensive investments is the equivalent of the costs and benefits of the difference between the result and the costs of achieving it. The economic efficiency of intensive investments is defined as the ratio of investment costs to achieving a profitable result (economic effect). The indicators characterizing the economic efficiency of intensive investments: the integrated effect, the need for additional financing, the internal rate of return, the intensive return on investment ratio, the intensive return on investment index, the innovation ratio, investment in human resources, and the effectiveness of modern corporate governance. will be included. The multiplier effect in which a set of multipliers reflects changes in production volumes, investments and industry characteristics. Analysis of specific activities shows the impact of growth indicators, given its contribution to the dynamics of the economy. An increase in investment costs will lead to an increase in production and income. This interaction is explained by the multiplier effect. The concept of the multiplier means "multiplier". The essence of the multiplier effect is that an increase in investment will lead to greater growth in national income.
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Brorsen, B. Wade. „Discussion: Agricultural Commodities and Agribusiness Stocks as Financial Assets“. Journal of Agricultural and Applied Economics 44, Nr. 3 (August 2012): 397–99. http://dx.doi.org/10.1017/s1074070800000493.
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Nonfarm investors might benefit from diversifying their portfolios by investing in the agricultural sector. Such diversifying investments could include investments in agricultural stocks or long-only futures positions through index funds. The papers in this session investigate the diversification potential of agricultural investments and discuss the effects of investments in index funds on agricultural markets.
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Andrew, Don. „An Index to Measure the Integrity of Investment Companies Investing Responsibility“. JOURNAL OF INTERNATIONAL BUSINESS RESEARCH AND MARKETING 5, Nr. 5 (2020): 36–51. http://dx.doi.org/10.18775/jibrm.1849-8558.2015.55.3004.
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Stakeholders realise the value and impact of Responsible Investment (RI) upon making informed decisions about investments. Due to this, more organisations are pressured to report on RI performances and put positive and/or negative strategies in place to address ESG issues and to implement ESG policies into the primary strategy of their operations. There are many governments and organisations globally which support sustainable investment and as one such administration, South Africa has legislated to manage RI issues (www.gov.za). Recognition is given to the both CRISA and PRI as well as taking the integrated environmental, social and governance (ESG) considerations into the investment decision making process into consideration when assisting in identifying, managing and mitigating potential ESG risks to achieve sustainable long-term investment outcomes.
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Nidar, Sulaeman Rahman, und Erwin Jaya Diwangsa. „The Influence of Global Stock Index and the Economic Indicators of Stock Investment Decision by Foreign Investors in the Indonesian Stock Exchange“. Journal of Finance and Banking Review Vol.2(1) Jan-Mar 2017 2, Nr. 1 (19.03.2017): 32–37. http://dx.doi.org/10.35609/jfbr.2017.2.1(5).
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Objective - The objective of this study is to determine how the movement of several indices and indicators of the global economy affect the change in investment by foreign fund flows in the Indonesia Stock Exchange (BEI). Methodology/Technique - Some global stock indices used in this study comprise the Dow Jones index, the Nikkei 225 index, the Shanghai index (SSE) and the Singapore Index (STI). Data were taken monthly from March 2009 to June 2014. Findings - The results obtained from this study indicate that the Dow Jones index and the STI index have a significant positive effect on the movement of foreign investmentsin the Stock Exchange. In contrast, the movement of world oil prices and exchange rate of the IDR/USD have a significant negative effect on the movement of foreign investments in the BEI. Novelty - The results of this study reinforces that the depreciation of the rupiah against the USD is an indication that the fundamentals of the Indonesian economy is not strong enough. Type of Paper: Empirical Keywords: Dow Jones, Nikkei 225 Index, Shanghai Index (SSE), STI Index, World Oil Prices, World Gold Price, Exchange Rate IDR/USD
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Small, Wayne, und Heng-Hsing Hsieh. „Style Influences And JSE Sector Returns: Evidence From The South African Stock Market“. Journal of Applied Business Research (JABR) 33, Nr. 5 (30.08.2017): 863–72. http://dx.doi.org/10.19030/jabr.v33i5.10011.
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A distinctive phenomenon on the Johannesburg Stock Exchange (JSE) is the market segmentation between the resource sector and the financial and industrial sectors documented in empirical literature. The dominance of the resource sector in the cap-weighted FTSE/JSE All-Share index (ALSI) implies that the ALSI index might not be mean-variance efficient due to the potential lack of diversification. We estimate and compare the historical sector exposures of the ALSI index to its hypothetically optimal sector exposures over the examination period from 2003 through 2013. It is found that to achieve mean-variance efficiency on the JSE over the examination period, one should maintain substantial investments in the industrial sector and tactically allocate the remainder of the investments to the financial sector and/or the resource sector. It is also observed that the sector exposures of the ALSI index have shifted significantly from the resource sector to the industrial sector. To gain a better understanding of the investment style influences on the JSE sector returns, we further investigate the exposures of the prominent JSE sector returns to the style risks using the Carhart (1997) four-factor model. It is found that investments in financial stocks are exposed to significant value risk and, to some degree, influenced by the performance of large caps on the JSE. In addition, excess returns on the industrial sector are attributed to value, small cap and momentum risk premiums to some degree. The performance of the resource sector, on the other hand, is mildly biased towards the growth, large cap and contrarian investment styles on the JSE.
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Liu, Guizhou, und Shigeyuki Hamori. „Can One Reinforce Investments in Renewable Energy Stock Indices with the ESG Index?“ Energies 13, Nr. 5 (04.03.2020): 1179. http://dx.doi.org/10.3390/en13051179.
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Studies on the environmental, social, and governance (ESG) index have become increasingly important since the ESG index offers attractive characteristics, such as environmental friendliness. Scholars and institutional investors are evaluating if investment in the ESG index can positively change current portfolios. It is crucial that institutional investors seek related assets to diversify their investments when such investors create funds in the renewable energy sector, which is highly related to environmental issues. The ESG index has proven to be a good investment choice, but we are not aware of its performance when combined with renewable energy securities. To uncover this nature, we investigate the dependence structure of the ESG index and four renewable energy indices with constant and time-varying copula models and evaluate the potential performance of using different ratios of the ESG index in the portfolio. Criteria such as risk-adjusted return, standard deviation, and conditional value-at-risk (CVaR) show that the ESG index can provide satisfactory results in lowering the potential CVaR and maintaining a high return. A goodness-of-fit test is then used to ensure the results obtained from the copula models.
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Škapa, Stanislav, Tomáš Meluzín und Marek Zinecker. „A critical evaluation of risk-return characteristics of environmentally focused stock’s companies“. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 61, Nr. 2 (2013): 501–6. http://dx.doi.org/10.11118/actaun201361020501.
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The objective of the paper is to critically evaluate and determine risk-return profile environmentally focused stock’s companies which are covered by STOXX Global ESG Environmental Leaders Index and whether this index should be taken in as an independent asset class of investments portfolio for its risk-return improvement. This paper gives an empirical view on the ex-post asset classes characteristics focused mainly on risk side of investment.
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Elias, Larissa Guarany Ramalho, Marília Carvalho de Melo, Ana Silvia Pereira Santos und Leonardo Castro Maia. „Model of integrated territorial assessment for environmental justice applied to sanitation“. Revista Brasileira de Ciências Ambientais (Online) 56, Nr. 2 (2021): 232–47. http://dx.doi.org/10.5327/z21769478828.
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Equitable access to water and sanitation is still a challenge worldwide and in Brazil. In this sense, the concept of environmental justice was used in this paper as a basis for establishing an Integrated Territorial Assessment Model for Environmental Justice Applied to Sanitation. This research aims to give scientific support for the State Government to improve public policies and promote the universalization of water and sanitation services as established by the Sustainable Development Goals (SDGs). This study was based on a quali-quantitative methodology. Secondary data were selected as key information to analyze environmental justice in sanitation, including the following: hydric vulnerability (IV), water supply (WS); untreated sewage collection (SC); sewage collection with treatment (ST); water supply investments (WSI); sewage system investments (SSI); municipal per capita income (MPI); and municipal human development index (MHDI). The data were presented in maps by overlapping the State official regional division and the discussion was carried out based on regional differences and similarities. The repetition of a pattern was noted, in which unfavorable rates were concentrated in the North and Jequitinhonha-Mucuri regions: water vulnerability, sewage system with collection and without treatment, total investment, average investment, per capita income and municipal human development index. Both also have low rates of the sewage system and water supply when compared to others. On the other hand, Zona da Mata and Triângulo regions have favorable rates for hydric vulnerability, sewage system with collection and without treatment and water supply. The Triângulo Mineiro region also presented favorable rates of total investment, average investment, per capita income, and municipal human development index. It is concluded that the inequality between the regions is, initially, of natural origin, and reinforced by the social context and inequality in sanitation investments in the different regions.
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Akeny, Emmanuel, und David Mwesigwa. „Personal savings and household investments: a cohort study among primary school teachers“. Annals of Management and Organization Research 1, Nr. 4 (25.05.2020): 261–70. http://dx.doi.org/10.35912/amor.v1i4.468.
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Purpose: This study aimed to determine the relationship between personal savings and household investments among a cohort of primary school teachers in lira city. Research methodology: The study used a cross-sectional survey design with a quantitative research approach. Data were collected from a sample of 103 respondents with the period between October 2020 and January 2021 using self-administered questionnaires. The Content Validity Index was used to establish validity, while the Cronbach's Alpha Coefficient was used to test reliability. Results: Using descriptive and inferential statistics, the results suggest that civil servants' personal financial planning is high due to personal savings. Also, the level of household investment is high and the correlation reveals that the relationship between private savings and household investment is very weak and negative. Limitations: This study focused on personal savings only, yet other constructs affect household investments. Contribution: This study's results help civil servants in Lira city and Uganda in general since personal savings are an essential factor to household investments. Keywords: Personal savings, Household investment, Primary teacher, Financial planning, Lira
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Boldyreva, Natalia, und Liudmila Reshetnikova. „Effectiveness of investment activities of managers in the mandatory pension insurance system“. St Petersburg University Journal of Economic Studies 36, Nr. 3 (2020): 483–513. http://dx.doi.org/10.21638/spbu05.2020.306.
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This article examines reasons for the low efficiency of investment activity by pension asset managers, and pension investment rules are formulated. These rules are based on the Asset Allocation strategy, taking into account the long-term pension investments and the life-cycle investment strategy. All pension portfolios of Russiаn managers have weak diversification by asset classes, a high share of fixed income financial instruments, and a mismatch of the portfolio structure with the risk profile of the beneficiary. The pension industry has high costs. We evaluated the real efficiency of investment activity by pension asset managers according to the classical theory of investments, and compared it with the risk-return benchmarks of the Russian financial market. The real cumulative return by pension asset managers is negative for the period 2008–2018. At the same time, the Russian financial market provided opportunities for real growth of pension savings. Bank deposits allowed to defend capital from depreciation. Modeling of index pension portfolios (conservative, balanced, and aggressive) in the Russian financial market, according to pension investment rules, showed a positive impact on investment management efficiency of regular rebalancing of the portfolio containing stocks. The management of index pension portfolios by the proposed rules protect pension savings against inflation. Pension asset managers improve the investment policy efficiency following the pension investment rules.
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Nerlinger, Martin. „Will the DAX 50 ESG Establish the Standard for German Sustainable Investments? A Sustainability and Financial Performance Analysis“. Credit and Capital Markets – Kredit und Kapital: Volume 53, Issue 4 53, Nr. 4 (01.10.2020): 461–91. http://dx.doi.org/10.3790/ccm.53.4.461.
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The demand for sustainable investments is growing worldwide. As a result, the DAX 50 ESG was introduced in March 2020 as the first ESG index by the German stock exchange. It is promoted as the new standard for German sustainable investments. We are the first to comprehensively examine the financial and non-financial performance of the index and its constituents. Therefore, we examine the sustainability performance using both ESG criteria and the alignment of products and services with the Sustainable Development Goals. Our results show that the DAX 50 ESG may only to a limited extent be promoted as the most sustainable German index. Moreover, since inception as well as during the COVID-19 crisis, the DAX 50 ESG’s financial performance is comparatively worse. Our findings suggest that stock markets penalize the inclusion of a firm in the DAX 50 ESG in the short run, thus affecting the overall index performance. Our analysis of the DAX 50 ESG further increases investor attention to sustainable financial products and enables better investment decisions.
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Biasin, Massimo, Roy Cerqueti, Emanuela Giacomini, Nicoletta Marinelli, Anna Grazia Quaranta und Luca Riccetti. „Macro Asset Allocation with Social Impact Investments“. Sustainability 11, Nr. 11 (04.06.2019): 3140. http://dx.doi.org/10.3390/su11113140.
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Using a unique dataset of 50 listed companies that meet the majority of the OECD requirements for social impact investments, we construct a social impact finance stock index and investigate how investing in social impact firms can contribute to portfolio risk-return performance. We build portfolios with three different methodologies (naïve, Markowitz mean-variance optimization, GARCH-copula model), and we study the performance in terms of returns, Sharpe ratio, utility, and forecast premium based on a constant relative risk aversion function for investors with different levels of risk aversion. Consistent with the idea that social impact investment can improve portfolio risk-return performance, the results of our macro asset allocation analysis show the importance of a large fraction of investor portfolios’ stake committed to social impact investments.
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Karadag, Haydar. „The Uncertainty Index and Foreign Direct Real Estate Investments in Developing Economies“. Emerging Science Journal 5, Nr. 4 (01.08.2021): 512–20. http://dx.doi.org/10.28991/esj-2021-01293.
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Attainment of standards in a country’s real estate market to meet international investors’ expectations contributes significantly to the real estate sector. However, in developing economies characterized by an environment of uncertainty where stability cannot be achieved, direct investments in real estate can bring returns to foreign investors. This is because economic uncertainty in developing countries raises the exchange rate. An increase in the exchange rate keeps real estate prices in developing countries relatively low. Foreign investors then take advantage of the low prices to invest in real estate in that country. The study aims to research whether the uncertainty in developing countries increases the foreign direct real estate investments. The study examines the relationship between the uncertainties in selected developing economies in Europe and the real estate investments by foreigners in the period 2008–2018. Gengenbach, Urbain, and Westerlund Panel Cointegration test and PDOLS coefficient estimation methods were used in the study. According to the analysis results, a 1% increase in the uncertainty index in the economies examined increases foreign direct investments by 5.731%. Since this study is one of the most detailed studies measuring foreign direct real estate investments under uncertainty conditions in the economy, it contributes to the literature. To sustainably increase foreigners’ direct real estate investments in developing countries, economic and political stability should be prioritized. Facilitating the bureaucratic process, providing tax reductions, making real estate suitable for demand, following the appropriate price policy, and making various environmental regulations will also increase foreigners’ direct real estate investments. Doi: 10.28991/esj-2021-01293 Full Text: PDF
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Ben, Sheets, und Wang Xiaoqiong. „Are Cryptocurrencies Good Investments?“ Studies in Business and Economics 14, Nr. 2 (01.08.2019): 181–92. http://dx.doi.org/10.2478/sbe-2019-0033.
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Abstract This paper provides a comprehensive overview of cryptocurrencies, including the origin of cryptocurrencies, how cryptocurrencies operate, and the current situation of cryptocurrencies. In addition, we also provide the performance comparison of major cryptocurrencies with the performance of the stock market indexes. All the cryptocurrencies exhibit higher average returns and volatility than the stock market indexes, which appeals to risk-taking investors. We then perform additional analysis on the determinants of cryptocurrencies returns. We show that major fundamental variables are less likely to affect the returns of cryptocurrencies except for the S&P 500 index returns and the exchange rates between U.S. dollars and Euros.
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MORAN, D., D. PEARCE und A. WENDELAAR. „Global biodiversity priorities A cost-effectiveness index for investments“. Global Environmental Change 6, Nr. 2 (Juni 1996): 103–19. http://dx.doi.org/10.1016/0959-3780(95)00017-8.
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Lusyana, Devi, und Mohamed Sherif. „Shariah-compliant investments and stock returns: evidence from the Indonesian stock market“. Journal of Islamic Accounting and Business Research 8, Nr. 2 (10.04.2017): 143–60. http://dx.doi.org/10.1108/jiabr-10-2015-0052.
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Purpose The purpose of this paper is to investigate the impact of the Indonesia Shariah-compliant Stock Index (ISSI) on the performance of included shares. In essence, the authors ask whether the establishment of the ISSI provides abnormal returns for the firms that are not included in the Jakarta Index. Design/methodology/approach The authors use an event study methodology to estimate cumulative abnormal returns in the days surrounding the event to examine the relationship between Shariah-compliant investments and stock returns. The estimation window of 90 trading days prior to the event (−30) to day 60 after (+60) is adopted. They also use a range of investment performance measures to provide new evidence on whether faith-based ethical investments generate superior performance compared to their unscreened benchmarks. Findings Using daily returns, the Indonesia ISSI and panel data model, the findings show that the inclusion of the ISSI has a positive impact on the financial performance of the included shares during the 41-day event window. The evidence also suggests that the ethical investment has a significant influence on the performance of stock market returns. Research limitations/implications This study offers insights to policymakers, investors and fund managers interested in the indices’ performance. A key conclusion that could be derived by bodies that regulate Islamic products and services is that investors are not only concerned about what is profitable but also what makes their investments ethical. Originality/value Although the global growth of the Islamic capital market products and services has been tremendous in recent years, very few studies focus on the Indonesian market and indeed, none of them devote sufficient attention to Shariah-compliant investments and stock returns.
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Yang, Xiaodong, Yongxiang Wu und Yafeng Yu. „Evaluation of Urban Infrastructure Investment Efficiency: Empirical Evidence from Heilongjiang Province, China“. Mathematical Problems in Engineering 2015 (2015): 1–8. http://dx.doi.org/10.1155/2015/790867.
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The rapid growth of urban infrastructure investment in China has brought with it some serious problems that cannot be ignored, such as low investment efficiency and faulty investment decision-making. Therefore, based on the latest research findings related to infrastructure efficiency evaluation theory and evaluation methods, this paper uses empirical evidence from Heilongjiang province to analyze urban infrastructure investment efficiency. To analyze investment efficiency in the province, a new infrastructure investment efficiency evaluation model is developed known as the SDEA-Malmquist model. The model reveals that urban infrastructure investment projects in Heilongjiang province are relatively effective and stable but that the efficiency of such investments varies according to the city in which they are made. Overall efficiency is consistent with the TFC (total final consumption) index, but the index fluctuates within a narrow range between cities due to technological differences.
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Mahanama, Thilini, Abootaleb Shirvani und Svetlozar T. Rachev. „Global Index on Financial Losses Due to Crime in the United States“. Journal of Risk and Financial Management 14, Nr. 7 (09.07.2021): 315. http://dx.doi.org/10.3390/jrfm14070315.
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Despite the potential importance of crime rates in investments, there are no indices dedicated to evaluating the financial impact of crime in the United States. As such, this paper presents an index-based insurance portfolio for crime in the United States by utilizing the financial losses reported by the Federal Bureau of Investigation. The objective of our paper is to introduce new risk hedging financial contracts for crime, consistent with dynamic asset pricing. Underlying the index, we hedge the investments by issuing marketable European call and put options and providing risk budgets. These budgets show that real estate, ransomware, and government impersonation are the main risk contributors in our index. Next, we evaluate the performance of our index via stress testing to determine its resilience to economic crisis. Of all the factors considered in this study, unemployment rate has the potential to demonstrate the highest systemic risk to the portfolio. Our portfolio will help investors envision risk exposure in the market, gauge investment risk based on their desired risk level, and hedge strategies for potential losses due to economic crashes. In conclusion, we provide a basis for the securitization of insurance risk from certain crimes that could forewarn investors to transfer their risk to capital market investors.
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Demir, Caner. „Macroeconomic Determinants of Stock Market Fluctuations: The Case of BIST-100“. Economies 7, Nr. 1 (01.02.2019): 8. http://dx.doi.org/10.3390/economies7010008.
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The purpose of this study is to analyze the impacts of some prominent macroeconomic factors on the Turkish Stock Market index, BIST-100 (Borsa Istanbul-100). For centuries, and mostly since the 20th century, stock markets are at the heart of economies. In our era, the largest economic crises arise from the stock market instabilities and thus, the stock markets are the focus of interest of the economy. Economists, investors, and policymakers try to predict the tendency of share prices, which substantially depend on foreign and domestic macroeconomic factors. Within this purpose, this study tries to investigate the impact of some selected macroeconomic factors on BIST-100 index over the 2003Q1–2017Q4 period. The findings obtained from the quarterly data via the ARDL Bounds Test suggest that economic growth, the relative value of the domestic currency, portfolio investments and foreign direct investments raise the stock market index while interest rate and crude oil prices negatively affect it. The results briefly reveal that the Istanbul Stock Exchange Market needs stronger domestic currency, higher international capital inflows, and lower energy and investment costs.
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Dukoski, Stojan, Ljubisa Zlatevski und Katerina Dukoska. „STOCKS AS AN INVESTMENT OPTION FOR THE INVESTMENT FUNDS“. KNOWLEDGE INTERNATIONAL JOURNAL 30, Nr. 1 (20.03.2019): 153–57. http://dx.doi.org/10.35120/kij3001153d.
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Financial innovations bring for the investors the new choices of investment but at the same time make the investment process and investment decisions more complicated, because even if the investors have a wide range of alternatives to invest they can‘t forgot the key rule in investments: invest only in what you really understand. Thus the investor must understand how investment funds differ from each other and only then to choose those which best match his/her expectations. The most important characteristics of investment funds on which bases the overall variety of investment vehicles can be assorted are the return on investment and the risk which is defined as the uncertainty about the actual return that will be earned on an investment. Each type of investment funds could be characterized by certain level of profitability and risk because of the specifics of these financial investments. Stocks are one of the favourite investments for the investment funds because of their effectieveness,but also because of they are higly liquid on average, bring income through dividends,offer diversification through sectors and every fund manager can find reasonably priced stocks with the required effort. Investment funds choose stocks because they are a very attractive investment that offers a lot of oportunities for the funds.The basic opportunity is that they are very flexible investment that offers ownership in the companies that the funds invests in. This gives the fund the oportunity to take participation in the annual shareholders meeting,but also to take board seats.It means that the fund can send representatives that can in turn affect the way the company manages its assets.A lot of companies are open to receive capital from the investment funds because as an investment vehicle they have a lot of liquidity to offer. Every investment fund is centered on the needs of the investors and tries to combine their individual opinions into one grand strategy.Usualy investment funds allow bigger investors to choose their investments and provide for them special portfolio options.This means that investors gain opportunity to have their own investment portfolio,which they can track for themselves and compare to the market index. Stocks are a big part of the investment portfolio of every investment fund.They sometimes respresent more than a half of the overall investments of the investment funds.The reason for this lays in their relative simplicity and the lots of ways the investor can profit from this securities.
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Khalatur, Svitlana, Zenon Stachowiak, Kateryna Zhylenko, Oksana Honcharenko und Oleksandr Khalatur. „Financial instruments and innovations in business environment: European countries and Ukraine“. Investment Management and Financial Innovations 16, Nr. 3 (04.10.2019): 275–91. http://dx.doi.org/10.21511/imfi.16(3).2019.25.
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One of the most crucial tasks for the national economies development both in European countries and Ukraine is stimulating and ensuring sustainable economic growth. For this purpose, all states develop an innovative sphere and use financial different instruments. The aim of the article is determining the impact of financial instruments and innovations on business environment development of the national economy of Ukraine in comparison with European countries in order to create successful and effective business environment in Ukraine for foreign investments. The paper examines the impact of foreign direct investments and domestic loans on the Global Innovation Index 2018 using two-factor analysis of variance. The null hypothesis of an interaction effect (factor A (foreign direct investments, net inflows) and factor B (domestic loans of financial sector) doesn`t exert an interaction effect on result Y (Global Innovation Index)) was rejected. Also the combination of foreign indicators, direct investments and domestic loans has a significant impact on the Global Innovation Index. Practical recommendations should provide a comprehensive approach to assessing the use of financial instruments in order to encourage the investments. Thus, overcoming the uneven distribution of innovations and investments should provide using the global financial resources.
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Wicki, Ludwik, und Robert Pietrzykowski. „Zróżnicowanie przestrzenne wykorzystania środków na modernizację gospodarstw rolnych z Programu Rozwoju Obszarów Wiejskich“. Zeszyty Naukowe SGGW - Ekonomika i Organizacja Gospodarki Żywnościowej, Nr. 124 (29.12.2018): 93–108. http://dx.doi.org/10.22630/eiogz.2018.124.32.
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The aim of the study is to determine changes in utilization of spatial diversity for the modernization of farms in Poland under the Rural Development Program for 2007–2013 and 2014–2020. The analysis covered the period 2007–2018. The analysis was conducted on the basis of data obtained from ARMA, GUS and Eurostat. Moran spatial autocorrelation index (Ig) was used to assess changes in spatial diversity. It was found that within the RDP 2014–2020 there were changes in the spatial distribution of the use of subsidies to support investments in agricultural holdings. It was observed that there was an increase in the intensity of use of subsidies for investments in voivodships in which large farms prevailed, and limiting the activity in using this measure in voivodships with fragmented agriculture. This may mean that small farms do not generate sufficient surplus needed to co-finance development investments. Support for investment for modernization of farms under the RDPs can be used primarily by economically large farms. Small farms do not have sufficient funds to co-finance development investments.
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Olievska, Myroslava, und Arthur Romanov. „INVESTMENTS IN HUMAN CAPITAL DEVELOPMENT AND WAGES: RELATIONSHIPS AND PROBLEMS IN LOWER-MIDDLE-INCOME COUNTRIES“. Baltic Journal of Economic Studies 7, Nr. 1 (22.01.2021): 77–83. http://dx.doi.org/10.30525/2256-0742/2021-7-1-77-83.
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The purposes of the article are to assess the impact of financing of education and health to human capital development, to consider the relationship among wages and investment in human capital, to establish directions of improvement of the investments in human capital development in Ukraine and other lower-middle-income countries. Methodology. Methodological basis of the research is the study of the dynamics of such indicators as the Human Capital Index 2020, wages, GNI per capita, education expenditure, government expenditure, financing of health, the wages of full-time employees. To solve the problems arising from the purpose of the study, systemic method (when analyzing the relationship of the investments in human capital development and wages), statistical methods of comparisons, economic analysis (when processing statistics), historical method (in the study of the evolution of Human Capital Index, expenditures on health and education), empirical and correlation-regression analysis (in the analysis of the practice of investments in human capital development) have been used. Results. The human capital is a central driver of sustainable growth and poverty reduction. The article proves that high-income countries can better finance the development of human capital; they are the leaders of the Ukraine Index 2020, more human capital in high-income countries is associated with higher earnings for people, higher income for countries, and stronger cohesion in societies. At the same time, the article substantiates that the low level of GNI per capita (3370 USD in Ukraine) and insufficient level of education and health expenditure negatively affect formation of human capital (the 53rd place in the Human Capital Index 2020). On the basis of the study of government and non-government expenditure on education and health, it has been concluded that investments in human capital are the effective tool to increase of the wages of full-time employees. Practical implications. Today human capital gains in many countries are at risk, especially in lower-middle-income countries. Features of the current socioeconomic situation require strengthening of investments in human capital development. The main steps that are necessary to undertake for implementing changes in the investments in human capital development have been determined in the article. They are the following: optimization of state financing of human capital; creation of fiscal space; creation of regional funds for financing human capital development; creation of strategic alliances and partnerships; supporting the demand for education and health care from households. Value/originality. The relationships between investments in human capital development and wages in the lower-middle-income countries are analytically proved. The complex of actions on optimization of financing of human capital has been generalized.
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TRUSOVA, Natalia V., Tetiana A. CHERNIAVSKA, Yurii Y. KYRYLOV, Viktoriia H. HRANOVSKA, Svitlana V. SKRYPNYK und Liubov V. BOROVIK. „Investment Attractiveness of the Economy of the World Countries in the Polystructural Space of Foreign Direct Investments“. Journal of Advanced Research in Law and Economics 11, Nr. 2 (31.03.2020): 645. http://dx.doi.org/10.14505/jarle.v11.2(48).35.
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The article deals with the theoretical, methodological and practical aspects of ensuring a safety level the investment attractiveness of the world countries economy in the polystructural space of foreign direct investments. In the context of the implementation of investment policy and factors in the field of international investment, an optimization model of the investment attractiveness of the national economy has been developed. The aggregate factors of the investment attractiveness index, which characterize the investment climate, investment activity and the state of economic development of the country, are highlighted. A methodical approach is presented to determine the synergistic impact of foreign direct investment on the country's investment attractiveness indicator. The criteria of normalization of investment attractiveness of the economy of the country by indicators of macroeconomic, monetary and currency status, which are formalized by indicators-stimulators, destimulators and interaction of bilateral boundary constraints are proposed. The criteria of identification of risks and threats of safe and dangerous state of development of the economy of the countries by the methods of prognostic extrapolation of foreign direct investment are taken into account. A comparative assessment of global foreign direct investment flows and global GDP, the value of net sales of cross-border mergers and acquisitions was made. The structure of foreign direct investment by regions of the countries of the world is considered, taking into account their external reserves of investment potential. The indicators of investment attractiveness of the Ukrainian economy and its cooperation with EU countries in terms of the volume of inflow and direct investments are presented. The scenarios for the growth of foreign direct investments in the polystructural space of the world and developing countries are proposed.
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Zhang, Tingting, William Yu Chung Wang und David J. Pauleen. „Big data investments in knowledge and non-knowledge intensive firms: what the market tells us“. Journal of Knowledge Management 21, Nr. 3 (08.05.2017): 623–39. http://dx.doi.org/10.1108/jkm-12-2016-0522.
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Purpose This paper aims to investigate the value of big data investments by examining the market reaction to company announcements of big data investments and tests the effect for firms that are either knowledge intensive or not. Design/methodology/approach This study is based on an event study using data from two stock markets in China. Findings The stock market sees an overall index increase in stock prices when announcements of big data investments are revealed by grouping all the listed firms included in the sample. Increased stock prices are also the case for non-knowledge intensive firms. However, the stock market does not seem to react to big data investment announcements by testing the knowledge intensive firms along. Research limitations/implications This study contributes to the literature on assessing the economic value of big data investments from the perspective of big data information value chain by taking an unexpected change in stock price as the measure of the financial performance of the investment and by comparing market reactions between knowledge intensive firms and non-knowledge intensive firms. Findings of this study can be used to refine practitioners’ understanding of the economic value of big data investments to different firms and provide guidance to their future investments in knowledge management to maximize the benefits along the big data information value chain. However, findings of study should be interpreted carefully when applying them to companies that are not publicly traded on the stock market or listed on other financial markets. Originality/value Based on the concept of big data information value chain, this study advances research on the economic value of big data investments. Taking the perspective of stock market investors, this study investigates how the stock market reacts to big data investments by comparing the reactions to knowledge-intensive firms and non-knowledge-intensive firms. The results may be particularly interesting to those publicly traded companies that have not previously invested in knowledge management systems. The findings imply that stock investors tend to believe that big data investment could possibly increase the future returns for non-knowledge-intensive firms.
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Nandy, Subhashis. „Empirical Observations on the Tracking Errors and the Risk-Adjusted Returns of REIT-Based Exchange Traded Funds“. International Journal of Business and Management 11, Nr. 9 (07.08.2016): 63. http://dx.doi.org/10.5539/ijbm.v11n9p63.
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<p>In the last few years, investments in exchange traded funds (ETFs) have gained significant popularity among the financial investors. Financial investors have also shown enormous interests in investments in REITs (Real Estate Investment Trusts). The researcher has determined the tracking errors of REIT based ETFs from the corresponding REIT indexes. The null hypotheses that there are no correlations between the risk adjusted returns of REIT based ETFs and the risk-adjusted returns of the corresponding index have been tested at 0.05 levels of significances. The period used in this study is from April 2010 to March 2016. The results indicate that the mean tracking errors of REIT based ETFs are very small. The findings also indicate that the null hypotheses that there are no correlations between the risk-adjusted returns of REIT based ETFs and the risk adjusted returns of the corresponding index can be rejected at 0.05 levels of significance.</p>
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Qi, Can, Ya Feng Wen, Duo Yang, Wei Liu und Guo Liang Wu. „Study on Optimal Scale and Layout of Electric Vehicle Charging Stations Based on Chaotic PSO Algorithm“. Applied Mechanics and Materials 385-386 (August 2013): 1869–72. http://dx.doi.org/10.4028/www.scientific.net/amm.385-386.1869.
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The index of investment cycle cost (ICC) and users convenience of electric vehicles are presented. Based on the aim to minimizing investing unit and user fees, fix a charging station model in scales and layouts. ICC consist initial investments, cost of network losses and investments for new transmission lines. Convenience is measured by electrical power consumption expense from users to the charging station. Adding constraint of grid security and economical efficiency, the optimization aim function was set which comprehensively considers investors and users cost and operation of power grid. Chaos Particle Swarm Optimization Algorithm (CPSO) was used to settle it. By empirical study of certain planning area, the proposed model and algorithm are proved to be scientific and effective.
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Lazreg, Marwa, und Ezzeddine Zouari. „The Relationship Between FDI, Poverty Reduction and Environmental Sustainability in Tunisia“. Journal of Economics and Management Sciences 1, Nr. 1 (07.06.2018): p114. http://dx.doi.org/10.30560/jems.v1n1p114.
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Our goal in this paper is the study of the impact of FDI on poverty and sustainable development in the case of Tunisia and during the study period from 1985 to 2015. In addition, we use the test unit root of cointegration test, the model error correction of FMOLS and Granger causality. In the case of Tunisia, we find that all variables are integrated of order 1. Thus, we can use the cointegration test. Indeed, the result of the null hypothesis test of no cointegration was rejected at the 5% threshold, which explains the presence of a cointegration relationship between FDI, sustainable development and poverty. Finally, we present and interpreted the results of the estimated FMOLS model and Granger causality test to study the contribution of FDI to the poverty reduction and sustainable development in Tunisia. We find that the LIDE variable measuring foreign direct investment has a significant negative impact on the GINI index. We notice the LCO2 variable that measures the CO2 emissions has a negative and significant impact on poverty as measured by the poverty gap at $ 1.91. We prove that direct foreign investments have a significant negative impact on CO2 emissions. We find that the LIDE variable measuring foreign direct investment has a significant negative impact on the GINI index. We notice the LCO2 variable that measures the CO2 emissions has a negative and significant impact on poverty as measured by the poverty gap at $ 1.91. We prove that direct foreign investments have a significant negative impact on CO2 emissions. We found that the LIDE variable measuring foreign direct investment has a significant negative impact on the GINI index. We notice the LCO2 variable that measures the CO2 emissions has a negative and significant impact on poverty as measured by the poverty gap at $ 1.91. We prove that direct foreign investments have a significant negative impact on CO2 emissions.
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Bykanova, O. A. „Analysis of the investments influence in environmental protection measures on the structure of ecological costs distribution on the example of the Republic of Sakha (Yakutia)“. Vestnik Universiteta, Nr. 6 (07.08.2021): 141–46. http://dx.doi.org/10.26425/1816-4277-2021-6-141-146.
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Modern investment processes can be considered the main factor in the development of individual constituent entities of the Russian Federation. The emergence of additional jobs, the improvement of social infrastructure contribute to the growth of the quality of life of the population. However, the active use of natural resources as a raw material base for industry and agriculture has consequences: the depletion of resources and the violation of their structure and quality. Environmental protection measures are an important component of the development of regions. The article сonsiders investments aimed at protecting land and water resources in the Republic of Sakha (Yakutia). The study of the statistics of costs for the conservation and restoration of water and land using the Gatev integral index allowed us to conclude about significant changes in current costs structure. Based on the correlation and regression analysis, the ratio between the Gatev index of structural differences in costs and the share of investments in the rehabilitation of soil and water resources with a correlation of 0.85 has been obtained. It has been concluded that a decrease in the level of attracted investments entails, in aggregate, a significant redistribution of funds for measures aimed at improving the natural resources of agricultural purposes.
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Himawan, Arie. „DAILY PORTFOLIO INVESTMENT RETURN ANALYSIS WITH DOLLAR COST AVERAGING METHOD“. Business and Entrepreneurial Review 9, Nr. 2 (30.03.2016): 151. http://dx.doi.org/10.25105/ber.v9i2.33.
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The background of this research was daily investment return strategy with dollar cost averaging method from portfolios which established from day and date of investment in a month. Therefore, it was found that there was highest return from one of those day when investors make investment plans in capital market. The objectives of this research were analyzing best performance day that investors could make most return in a month and along with dollar cost averaging method to avoid rather on risk of single market timing to regular investing. The design of this research applies exploratory research from day and date of investment portfolios which would add market information to investors as reference when make investments as part of their financial plan. Data analysis of this research used Jakarta Composite Index closing price from 2nd Quarter April 2003 to End of March 2008. The results of this research conclude that investors could make high potential investments portfolio return from one of day and date in a month with implementing dollar cost averaging regularly in capital market
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SenGupta, Swapnanil. „An empirical analysis on the impact of non-performing loans on investment and economic growth and the role of political governance“. Indian Journal of Economics and Development 8 (09.12.2020): 1–21. http://dx.doi.org/10.17485/ijed/v8.27.
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Objective: To empirically analyze the link between nonperforming loans and investments along with the role of political governance. The estimation technique used is the fixed effects model including both the country and timMethods: e fixed effects. The dataset consists a panel of 103 countries with annual data over the period from 2000 to 2017. A unique composite political governance index has been prepared combining the six existing governance indicators via Principal Component Analysis (PCA). Findings: It is found that NPL has significant negative impact whereas, governance has significant positive impact on investments as per expectations. However, it is found that the negative impact of NPL on investment gets stronger in presence of good governance. This is a paradoxical result and further attempts has been made to rationalize the outcome. Applications: The study empirically proves the theory of negative impacts of NPL on investment in the economy. Furthermore, the role of political governance has been scrutinized. No prior works have been carried out on this topic. The paradoxical result in this study has opened up new areas for research. An extensive literature review has been provided along with a detailed discussion on the possible measures to tackle with the problems. JEL Classification: C3, E6, G0. Keywords: NPL; investment; political governance institutions; fixed effects model; composite political governance index
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Li, Liang-Xin. „Quantitative Research on Country Risk Index of Chinese Overseas Investments“. Asian Economic and Financial Review 7, Nr. 11 (2017): 1039–44. http://dx.doi.org/10.18488/journal.aefr.2017.711.1039.1044.
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Doifode, Adesh, Mrityunjay Tiwary und Vaibhav Aggarwal. „Volatility Spillover from Institutional Equity Investments to Indian Volatility Index“. International Journal of Management Concepts and Philosophy 1, Nr. 1 (2020): 1. http://dx.doi.org/10.1504/ijmcp.2020.10031501.
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Aggarwal, Vaibhav, Adesh Doifode und Mrityunjay Kumar Tiwary. „Volatility spillover from institutional equity investments to Indian volatility index“. International Journal of Management Concepts and Philosophy 13, Nr. 3 (2020): 173. http://dx.doi.org/10.1504/ijmcp.2020.111020.
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Trunova, Iryna, Oleksandr Miroshnyk, Oleksandr Moroz, Anatolii Sereda und Volodymyr Pazii. „ANALYSIS OF THE EFFICIENCY OF USING INVESTMENTS FOR INCREASE OF CONTINUITY OF ELECTRICITY SUPPLY“. Energy saving. Power engineering. Energy audit., Nr. 10(152) (24.04.2021): 23–29. http://dx.doi.org/10.20998/2313-8890.2020.09.03.
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The method of the analysis of efficiency of use of investments for increase of continuity of electricity supply for customers is offered. The use of coefficients which are identical to product of average specific financing of investment programs with taking into account of standard units of electric equipment and a target System Average Interruption Duration Index in a method of the comparative analysis of efficiency of use of investments is offered. The calculation of factors of an inefficiency of use of investments for increase of continuity of electricity supply of customers which are in rural and city areas is offered. It is offered optimization model of efficiency of use of investments for increase of continuity of electricity supply of customers. The example of practical application of the offered method for definition of companies with inefficient use of investments for increase of continuity of electricity supply of customers in rural and city areas is given. The rank of companies which are chosen for research, by efficiency of use of investments for increase of continuity of electricity supply for customers is determined. Application of this method for the analysis of efficiency of use of investments in the sub-units of the companies and for the use of the calculated coefficients as Key Performance Indicators and corresponding stimulation of sub-units of the regulated companies to more effective use of investments is offered. Conclusion that in sub-units of the regulated companies which are certain as such where inefficiently use investments, on the basis of the analysis of the organization of technical operation and quality of performance of works, uses of modern technologies of repair and maintenance service of an electric equipment, improvement of professional skill of the personnel, and, using corresponding provision of economic incentives, probably to reach increase of continuity of electricity supply of customers is given.
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Novotný, Josef, und Iveta Jaklová. „The Importance of Global Financial Indices for Investors in Alternative Investment“. SHS Web of Conferences 92 (2021): 07045. http://dx.doi.org/10.1051/shsconf/20219207045.
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Research background: One of the financial market indicators are very important global financial indices. These express the state and development of the market for certain investment instruments that form the basis of an index. These international financial indices are used to facilitate the process of making investment decisions for investors. Global equity indices are mainly popular with the investing public. However, global indices of alternative investments are less popular. The main problem with alternative investments is their low awareness among the investing public, including the fact that many investors are unable to assess their strengths and investment potential, which can lead to an increase in their assets. Some alternative investments are gaining in popularity especially in times of world financial crises, uncertainty and economic recessions, when their prices tend to rise as investors seek a safe haven to value or protect their free cash, especially from inflation. Purpose of the article: The aim of the article is to draw attention to the importance and advantages of selected alternative investment with the support of financial indices in the global environment, which is whiskey. Methods: Methods of analysis, comparison and synthesis were used in the article. The principles of logical thinking were also used to achieve the goal, especially in the application of scientific methods that follow each other. Findings & Value added: The main finding was that the examined international alternative indices focused on whiskey performed higher than the global equity financial indices in the monitored period.
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Fatmasari, Ditha Indah, R. Deni Muhammad Danial und Nor Norisanti. „ANALISIS CAPITAL ASSET PRICING MODEL (CAPM) DALAM PENGAMBILAN KEPUTUSAN INVESTASI SAHAM (STUDI PADA SAHAM YANG LISTING DI JAKARTA ISLAMIC INDEX PERIODE 2015-2017)“. Jurnal Ekonomi dan Bisnis 20, Nr. 2 (10.07.2019): 11. http://dx.doi.org/10.30659/ekobis.20.2.11-18.
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This research aims to determine various stock investments with the Capital Asset Pricing Model(CAPM) method, to help investors pick efficient and inefficient stock. The population in thisstudy are all companies listing in Jakarta Islamic Index. The sampling technique used waspurposive sampling method and acquired 16 stocks. The results show that there was positiverelationship or non linear relationship between systematic risk and expected return. There are13 stocks included on efficient and investment decisions should be taken by investors was tobuy efficient stocks, while there are 3 stocks included on inefficient and investment decisionsshould be taken by investors was to sell inefficient stocks.Keywords: Capital Asset Pricing Model (CAPM), Systematic Risk, Investment Decisions