Journal articles on the topic 'Investment Model'
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1
Prasetya, Syarief Gerald, and Yustiana Wardhani. "INVESTMENT PROJECTION MODEL IN INDONESIA." Accounting Journal of Binaniaga 3, no. 02 (December 31, 2018): 1. http://dx.doi.org/10.33062/ajb.v3i2.229.
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The achievement of economic activities in a country is measured by the economic development which is the projection of an increasing output as well as the increasing of the revenue to the owner of the production factors. Either Local Investment contribution or Foreign Investment has been an important role to reach the economic development, in order to reach it, the estimation of investment requirement either local investment or foreign one has to be done. This research aims to find out the connection between invesment and economic development, the investment projection model, and the total amount of invesment for the economic development. The research method has applied an explanatory method. The connection between economic development and investment can be analyzed by Capital Output Ratio (COR) concept. Having had the different perspectives of time, it has caused that mostly COR on average has been applied only to measure the productivity of the investment activities at a certain year, however, MCOR is used as the tool to predict the future investment’s requirement and the economic development.Key words: investment, economic development, capital output ratio
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Blahun, Ivan, Lesia Dmytryshyn, and Halyna Leshuk. "Simulative model for evaluation of investment processes in the regions of Ukraine." Investment Management and Financial Innovations 14, no. 3 (November 23, 2017): 322–29. http://dx.doi.org/10.21511/imfi.14(3-2).2017.03.
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To analyze and evaluate the investment processes in the regions of Ukraine, it is suggested to use a simulative model that, unlike existing ones, allows to take into account the influence of macroeconomic factors and to predict the future development of the economic system of the regions taking into account their investment potential. The examination of the assessed simulative models of the investment processes in the regions of Ukraine for adequacy is carried out using the determination coefficient and Fisher’s criterion, by which the influence of the most significant economic variables of social and economic development of the regions on the investments formation is determined. Research of the investments impact on the dynamics of economic systems indicators of the regions has shown that 86% of the constructed models are adequate. The presence of statistically significant estimates of model parameters confirms the effectiveness of the proposed approach for conducting research on the analysis and forecasting of the patterns of significant indicators formation of investment activity at the regional level, as well as their impact on indicators of social and economic development.
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Solonina, Nataliya, Larisa Alekseeva, and Sergei Barykin. "Logistics investment model of project evaluation." MATEC Web of Conferences 265 (2019): 07021. http://dx.doi.org/10.1051/matecconf/201926507021.
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The purpose of the analytical review consists of the comprehensive socio-economic analysis multi-criteria optimization methods of investment project for investment programs. Those are related to the use of economic and statistical information which could be implemented in identification of consistent patterns in the processes of individual phenomena development in society and in the study of the indicators. The results of the scientific research include the effect of individual factors on abovementioned processes. The importance of innovative development is one of the main indicators of investment under uncertainty, taking into account social orientation of investment program planning in companies. Logistics investment model serves for the purpose of investment process simplification on the basis of logistics processes, which take place in contrast to decomposition of functional areas of logistics and assessment of the investments.
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Alagöz, Mehmet, Nihal Yokuş, and Turgut Yokuş. "Photovoltaic solar power plant investment optimization model for economic external balance: Model of Turkey." Energy & Environment 30, no. 3 (October 3, 2018): 522–41. http://dx.doi.org/10.1177/0958305x18802762.
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Through using a linear optimization model that interprets solar energy and current deficit parameters, investment plans were performed for countries which have current deficit problem of energy source. The specifics of the study are due to the linear optimization model, which reveals the current deficit and solar energy together for the investment strategy. While the model is constituted, without affecting the existed current account, some parameters based on such as profit transfers for foreign investments, payments of interest for domestic investments, import rates for photovoltaic solar panels, solar energy electricity production values, electricity demand projection for the future and import resource rates for electricity production. In the framework of these constraints of the model, the effects of solar systems on domestic investment and foreign direct investments on current account balance are analyzed for the period of 2017–2030 in Turkey. In the application of the model in Turkey to reduce the current deficit, this is concluded that the solar energy is a significant opportunity. In addition, the linear optimization model is considered as a reference for countries facing energy-related current deficit problems.
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Tkachova, T. "NEURAL NETWORK MODEL FOR EFFICIENCY OF MANAGEMENT DECISIONS AT A MACHINE-BUILDING ENTERPRISE." Vìsnik Sumsʹkogo deržavnogo unìversitetu, no. 3 (2020): 327–33. http://dx.doi.org/10.21272/1817-9215.2020.3-37.
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An important precondition for the economic development of Ukraine is the inflow of investment capital in the context of market transformations. For its part, it is possible to satiate the economy of the country with investments only in conditions of stable development of this country, because the main condition for the investor is to avoid the capital loss. For this purpose, scientists create rating systems of investment attractiveness, which allow choosing the best investment object. Obviously, it is desirable to take into account the research results of the investment attractiveness of a country, region or industry for a successful investment project. The purpose of article is to analyze the existing methods for determining the investment attractiveness of the economy, develop a rating system of investment attractiveness of a number of the Ukrainian economy sectors and provide recommendations for increasing the investment attractiveness of the sectors of the national economy. It is used the methods and approaches such as analysis, synthesis, dialectical, systemic and comparative methods which allowed to implement the research. In a study it is described a methodology for determining the investment attractiveness of a country, region and industry. The investment attractiveness of the branches of the Ukrainian economy was investigated. The problems were identified and the rating systems of investment attractiveness of the Ukrainian economy branches was compiled. Recommendations for increasing the investment attractiveness of the national economy were given. The research of the investment attractiveness of the economy sectors will identify existing problems in attracting investments and help with their solution. The development of rating systems of investment attractiveness of the Ukrainian economy sectors will help to attract more investments, and investors could choose the best option for investing. The implementation of these recommendations will help to improve the rating of Ukraine's investment attractiveness.
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Saitkamolov, M., Z. Gaibnazarova, and J. Cowie. "MODERN MODEL FOR ASSESSING THE EFFICIENCY OF INVESTMENTS ATTRACTED IN RAILWAY TRANSPORT." Technical science and innovation 2020, no. 1 (March 31, 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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Al-Darwesh, Hanem Rajab Ibrahem. "The Joint Arabic Investments Role at Aqaba Special Economic Zone: Marsa Zayed as a Model." International Journal of Economics and Finance 9, no. 9 (July 20, 2017): 22. http://dx.doi.org/10.5539/ijef.v9n9p22.
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The study addressed the role of Arabic investments in Aqaba special economic zone (ASEZ), and tried to answer the following questions: are the necessary potentials and features available in (ASEZ) to provide an attractive investment climate for the Arabic investments, what is the level of policies effectiveness for improving the investment climate in (ASEZ) to attract the Arabic investments, what is the level of guarantees effectiveness provided by (ASEZ) to encourage Arabic investments, and what is the level of investment privileges and facilities, related to the investments provided by (ASEZ) to attract the Arab investment to it. Data were collected through one study tool that consisted of 30 paragraphs by using Likert fifth scale. Study importance comes from its benefit to decision makers at (ASEZ) to avoid some of the pitfalls and barriers that face the investment in it, where the descriptive analytical approach was used to calculate the arithmetic means, standard deviations, percentages, and T-test on paragraphs of the questionnaire that was distributed by the simple random survey method. Study results showed the existence of distinctive characteristics within the investment climate at (ASEZ), and also concluded that (ASEZA) plays a big role in attracting Arabic investments to Aqaba, the study in return arrived to the existence of some barriers that limit the Arabic investments attraction to Aqaba, the most important of those are: management problems, multiple decision making parties, bureaucratic, and routine. The study recommended to reformulate operation of the united investment window, in a way that makes it a role model, to repair the internal house of government institutions and agencies dealing with investment, entrepreneurship or projects, and train staffs to facilitate the procedures offers for foreign investors, which encourage them to establish their projects there and improve the image of Jordan as an attractive country for investment and investors.
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Tinguha, Lovely, and Romario Ybanez. "Determinants of Investment Decisions among Retirables: Towards an Investment Planning Model." JPAIR Multidisciplinary Research 51, no. 1 (January 8, 2023): 88–108. http://dx.doi.org/10.7719/jpair.v51i1.218.
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This study is about the determinants of investment decisions among retirables to evaluate their preparedness of retirables in terms of investment before they retire, the perceived factors that influence them to invest, and their knowledge and education in financial management. It also creates an investment planning model that will fit the needs of the individual depending on their income and risk appetite to invest. The study uses a descriptive correlational method, and the results revealed no significant difference between the respondents according to the three determinants (Investment Behavior, Financial Preparedness, and Investment Influencers). Therefore, they do not differ in terms of determinants in making decisions. However, there was a significant relationship between investment determinants of retirables and investment influencers. The correlation of 0.864 between investment determinants and investment influencers for the retirables was highly correlated and statistically significant. The investment determinants influence investment decision-making; thus, it is claimed that determinant factors are extremely important to implement their investment plan for retirement preparedness. Consequently, knowing the investment determinant behavior is the key to practicing Investment planning. It is recommended, therefore, to strengthen the level of financial preparedness and education of employed people at an early age to raise awareness and improve their understanding of financial risks when they are no longer earning (retired) and make necessary investments.
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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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Brooks, James E., Brian G. Ogolsky, and J. Kale Monk. "Commitment in Interracial Relationships: Dyadic and Longitudinal Tests of the Investment Model." Journal of Family Issues 39, no. 9 (February 27, 2018): 2685–708. http://dx.doi.org/10.1177/0192513x18758343.
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Empirical research to explain why partners in interracial relationships appear to be less committed than partners in intraracial relationships is scarce. The Investment Model has been shown to be a robust predictor of relationship commitment, but has only been applied to interracial relationships on a few occasions. Using a sample of 232 couples ( n = 172 intraracial; n = 60 interracial), we found the Investment Model performs comparatively well in interracial and intraracial relationships. However, there were some differences in the influence of investments on commitment. Investments were associated with concurrent commitment in intraracial but not interracial relationships, and an interdependent version of the Investment Model (Actor–Partner Interdependence Investment Model) fit intraracial relationships better than interracial relationships. The results suggest there are nuances in applying the Investment Model to interracial relationships, but that the model is promising for understanding the commitment of partners who experience marginalization.
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Ferrer-Comalat, Joan Carles, Dolors Corominas-Coll, and Salvador Linares-Mustarós. "A Fuzzy Economic Dynamic Model." Mathematics 9, no. 8 (April 10, 2021): 826. http://dx.doi.org/10.3390/math9080826.
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In the study presented here, fuzzy logic was used to analyze the behavior of a model of economic dynamics that assumes income to be in equilibrium when it is composed of consumption and investment, that is, when savings and investment are equal. The study considered that consumption and savings depend on the income of the previous period through uncertain factors, and, at the same time, that investment is an uncertain magnitude across various periods, represented as a fuzzy number with a known membership function. Under these conditions, the model determines the factor of income growth and investments required to maintain equilibrium, as well as the uncertain values of income for the different periods, expressed through fuzzy numbers. The study also analyzes the conditions for their convergence and the fuzzy value that income represents in equilibrium.
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Vorokova, Nodira Kh, Alina E. Sennikova, Vladimir V. Abrosimov, Valeria E. Vasilchenko, and Pavel N. Priymak. "MATHEMATICAL MODEL OF FINANCIAL INVESTMENT RISK." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 5/3, no. 125 (2022): 89–95. http://dx.doi.org/10.36871/ek.up.p.r.2022.05.03.012.
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This article measures the amount of income and the degree of risk of financial investments. Analysis of the relationship between income and risks in financial investments is based on the theory of multipurpose linear programming. In the process of using study data obtained using MATLAB software. This approach requires an analysis of the investor's profitability assessment at a constant level of risk and minimized risk with the search for a profitable one. The results of the study are the basis for the formation of a diverse portfolio in the presence of various risks in financial investment. The monitor calculations presented in the article are generated by the application model to define a generic portfolio.
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Coy, Anthony E., Jody L. Davis, Jeffrey D. Green, and Paul E. Etcheverry. "A dyadic model of investments: Partner effects on commitment." Journal of Social and Personal Relationships 36, no. 11-12 (January 24, 2019): 3471–91. http://dx.doi.org/10.1177/0265407518822783.
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A dyadic approach to studying relationship dynamics yields considerably more insights than examining each partner separately. Yet relatively little research has examined dyadic models of commitment, despite commitment being essential to relationship persistence. Accordingly, we tested a dyadic version of the investment model of commitment. In two cross-sectional studies of couples and one experiment, we tested the role of partner investments and perceived partner investments as novel antecedents of commitment. Studies 1 and 2 demonstrated that greater partner investments were related to greater levels of individuals’ commitment, while controlling for individuals’ own satisfaction with, investments in, and alternatives to the relationship. Study 3 revealed that partner-reported investments predicted commitment independent of perceived partner investments. The findings advance the investment model beyond the individual level, emphasizing the need to examine dyadic elements of relationships.
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Zhao, Xiaoyang, Zesheng Shi, Jiahao Xia, Wannian Ren, and Chunmei Huang. "Portfolio investment decision model based on price forecasting model and risk assessment model." BCP Business & Management 35 (December 31, 2022): 202–9. http://dx.doi.org/10.54691/bcpbm.v35i.3294.
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Investors often use gold and Bitcoin to reduce the risk of financial investments by combining them due to their low correlation and different dynamic correlation. Therefore, it is essential to study how a combination of the two can be invested to maximize returns. In this paper, we combine the BP neural network model and the gray correlation analysis model from the future unpredictability and risk quantification of portfolio investment. We want to use the model to construct a price prediction model and risk assessment model to build a model for portfolio investment decisions based on past-day price flow only. To be specific, this paper first builds a price prediction model based on a BP neural network prediction model. At the same time, the prediction needs to be performed in a cycle, and the training set of the neural training model is increased each time. Each prediction is recorded for the next day's data and aggregated to obtain the daily price flow prediction. Next, this paper builds a risk assessment model through gray correlation analysis. In order to measure the riskiness of the daily investment, this paper selects three indicators, namely, forecast price accuracy, recent price trend, and price volatility. It uses gray correlation analysis to score them quantitatively and then gives the daily investment risk assessment results. Finally, a sensitivity analysis was performed to determine the model's sensitivity to transaction costs by varying the transaction costs of gold and bitcoin. It was found that as the transaction costs become more extensive, the number of transactions becomes smaller and the total assets acquired become smaller.
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Begu, Liviu, Maria Vasilescu, Larisa Stanila, and Roxana Clodnitchi. "China-Angola Investment Model." Sustainability 10, no. 8 (August 18, 2018): 2936. http://dx.doi.org/10.3390/su10082936.
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In the aftermath of Angola’s civil war, strong economic relations developed between the country and the People’s Republic of China. Our study addresses China’s investment risks in Angola, considering an infrastructure-for-petroleum partnership between these two countries. The main working hypothesis is that the recovery of Chinese investments made in Angola is has translated into thousands of barrels of petroleum being imported daily from Angola. We analyzed the main economic, social, and political indicators that describe the situation in Angola that could impact the recovery of Chinese loans in the form of oil exports. Data processing implied involved regression-based imputation, MinMax data normalization, the use of the Analytical Hierarchy Process (AHP), and econometric analysis, next to the construction of a composite risk indicator. The results of the econometric analysis highlighted that an increase in the composite risk indicator of 1% leads to a decrease in the quantity of petroleum exported by almost 6377 barrels per day. Because, at least in the short run, the economic diversification in Angola is weak, and the most important asset is its oil, the partnership with China will continue to exist. This cooperation model represents a source of economic growth and infrastructure development for Angola and a source of energy that fuels China—one of the most powerful economies in the world.
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Segal, Noam, and R. Chris Fraley. "Broadening the investment model." Journal of Social and Personal Relationships 33, no. 5 (May 22, 2015): 581–99. http://dx.doi.org/10.1177/0265407515584493.
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Piluso, Nicolas. "Why should the carbon tax be floating? A Tobin’s Q model applied to green investment." Environmental Economics 14, no. 1 (June 12, 2023): 81–90. http://dx.doi.org/10.21511/ee.14(1).2023.08.
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The carbon market reform is controversial because the modalities of carbon pricing foreseen risk reducing the performance of companies and negatively affecting the economy. The objective of this paper is to show that the carbon tax can be floating and adapt to the economic situation while maintaining its ecological efficiency. Herein, Tobin’s Q model, which has become a standard in the literature for explaining the investment decision, is applied to the green investment decision. A carbon tax is introduced into the firm’s maximization program to see how carbon pricing changes the outcome of the traditional model. The model shows that green investment depends on the sum of the stock price and the carbon price, which suggests the possibility of modulating this amount according to the upward or downward trend of the stock price to avoid permanently penalizing the competitiveness of firms. The study also demonstrates how the financial market is likely to value green investments and that such investments will likely generate shareholder value through several channels. Indeed, green investments impact the firm’s turnover and the minimum income required by the shareholder. Such a modulation of the carbon tax according to the economic cycle would make reconciling ecological and economic efficiency possible.
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Lazo, Juan Guillermo Lazo, Gonzalo Hernan Herrera Medina, Alvaro Talavera, and Luciana Faleti Almeida. "HYBRID MODEL FOR CRYPTOCURRENCY INVESTMENT STRATEGIES." Revista Campo da História 8, no. 1 (January 18, 2023): 59–79. http://dx.doi.org/10.55906/rcdhv8n1-004.
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Cryptocurrencies are digital assets based on the blockchain, they use cryptography to guarantee their ownership and ensure the integrity of transactions, in addition to allowing control over the creation of additional units. Since its creation in 2009, with Bitcoin as the first cryptocurrency, the market and the number of cryptocurrencies have grown rapidly, as has the interest of those seeking high returns due to its rapid appreciation, whether these investors are individuals or financial institutions. However, this market has characteristics of high volatility and uncertainty, causing prices to vary at very high levels and also at low levels, all of which makes investment decisions in cryptocurrencies very difficult for investment managers. This article proposes a decision-making support methodology for managing investments in the cryptocurrency market, which considers a conservative investment risk profile and seeks to reduce risk and maximize investment return. The methodology aims to establish return levels and estimate the transition probabilities of returns for each level, this is done based on the historical price of cryptocurrencies and using the analysis of Markov chains, which are integrated into the multiple decision trees to identify the cryptocurrency that projects the highest return when it is sold, in one or two periods after acquisition. The results are compared with real data, and the efficiency of the methodology is verified.
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Huang, Tian, Deyi Shi, and Shihao Xue. "The role and helpfulness of pensions in personal financial investment after retirement." BCP Business & Management 23 (August 4, 2022): 255–63. http://dx.doi.org/10.54691/bcpbm.v23i.1359.
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More than 90% of wage earners in the United States can receive pension options benefits after retirement. It is especially important to manage funds reasonably and choose the right investment after retirement. We use the capital asset pricing model (CAPM) and the Fama-French three-factor model to establish pension and non-pension investment portfolios and measure the return and risk changes of pension portfolio investments under different portfolio investments. The experimental results show that pensions are of great help to the return and Sharpe ratio of portfolio investments. With the intervention of different factors, pensions provide good and stable income support for portfolio investments. Especially under the expectations of different markets, pensions performed extremely well in portfolio investments. With the establishment of reasonable portfolio investment, we suggest that adding pensions to the portfolio investment will bring more stable investment performance.
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Yakimova, V. A., and S. V. Pankova. "Formation of a Methodological Model of investment audit." Accounting. Analysis. Auditing 9, no. 3 (June 29, 2022): 14–26. http://dx.doi.org/10.26794/2408-9303-2022-9-3-14-26.
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The paper considers the reasons that actualize the need for an investment audit, reveals its concept as a special type of audit service. The generalization of the existing positions of scientists on the applied methods and procedures of investment audit revealed the leading role of analytical procedures used to provide this service. The subject of the study is an investment audit as a segment of the activities of external and internal auditors. The purpose of the study is to form conceptual approaches and a methodological model of investment audit. The authors used general scientific principles and research methods: systematization, induction and deduction, synthesis and analysis. The empirical basis was statistical data and scientific works of Russian and foreign scientists. The article discusses the reasons that actualize the need for investment audit, reveals its concept as a special type of this service. n the course of the work, the analysis of factors influencing management decisions in the field of investments was carried out. Also, there were determined the audit tasks for each stage of the investment project and regulatory regulations; the methods used for investment audit and internal control were generalized. The paper consists the conceptual and methodological models of investment audit, revealing its principles, methods, prerequisites, information sources, control points. The results of the study have theoretical and applied significance as well as can be used by researchers in the field of financial control, auditors, business entities.
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Zaverbnyj, Andrij. "Problems and prospects of investment support of Ukrainian enterprises under European integration conditions." Management and Entrepreneurship in Ukraine: the stages of formation and problems of development 2021, no. 1 (June 1, 2021): 153–60. http://dx.doi.org/10.23939/smeu2021.01.153.
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This article considers the problems and prospects of investment support of Ukrainian enterprises under European integration conditions. A review of literature sources on the problem of investment support. The dynamics of capital investments in the industry of Ukraine for the period 2015-2019 years is analyzed. The structure of foreign direct investments (share capital, debt instruments) in Ukraine for the period 2015-2019 years is analyzed. The structure of capital investments by sources of financing in Ukraine in 2019 year is investigated. Investment support of industry and other branches of Ukraine is analyzed. A low share of foreign investors in the investment support of Ukrainian enterprises was revealed. The harmonious development of the country’s economy, especially during the period of active reform, requires significant amounts of investment and financing. To increase the level of efficiency of investment support of industrial enterprises of our country, they need to develop and use a comprehensive model of harmonious development of the investment attraction system. The potential for foreign investment is much greater than domestic. Possibilities of using the prospects of investment support of Ukrainian enterprises under European integration conditions have been studied. A comprehensive model for attracting foreign investment in Ukrainian enterprises in the context of European integration has been further developed. Introduction, application of a comprehensive model of attracting foreign investment in Ukrainian enterprises in European integration conditions. The model will increase the share of foreign investment in the country’s economy. The model will also help to attract the best practices of EU countries. This will promote harmonious integration and so on. As a result of effective investment support, it is expected to strengthen the financial condition of enterprises, increase the level of their creditworthiness.
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Zhao, Xue Ping, and Shui Cheng Tian. "Research Review on the Value of Coalmine Safety Investment Based on Real Option." Applied Mechanics and Materials 522-524 (February 2014): 1447–51. http://dx.doi.org/10.4028/www.scientific.net/amm.522-524.1447.
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The paper focuses on coalmine safety investment, studies and summarizes theories of safety investment and real option. Based on real option applications on pricing, venture investment, investment decision, estimation and valuation, investment assessment and safety investment, it analyzes the problems in researches on coal mine safety investments and advantages of constructing pricing model that combined real option with fuzzy mathematics theory, and proposes research direction of incorporating fuzzy numbers into real option model.
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Sorokina, Lesya, and Anatoliy Goyko. "The model for the formation of the investment program of a construction enterprise." Management of Development of Complex Systems, no. 53 (March 17, 2023): 100–110. http://dx.doi.org/10.32347/2412-9933.2023.53.100-110.
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The essence and main purpose of forming an investment program to ensure the effective implementation of the main directions of the investment strategy of the enterprise's development is revealed. The conditions and criteria, the observance of which ensures the investor to form an optimal investment program, are given. It is pointed out the need to adjust the investment program when the conditions of the external and internal environment change. Different models of investment program formation and possibilities of their practical application are considered. The authors proposed a model for the formation of an investment program that allows for the reinvestment of funds received for the implementation of projects. The main optimization problem is aimed at minimizing the capital involved, the objective function of the auxiliary problem is to ensure the minimum deviation of the amount of actual initial capital investments, compared to the amount provided by the investment program. The auxiliary problem is a model of fuzzy optimization, and its solution is the maximum intersection of membership functions of two fuzzy sets – goals and constraints. As a vague limitation, it is proposed to take into account the variant of unfavorable conditions for the implementation of the investment project, when significant savings on initial capital investments will be impossible. For a vague purpose and limitation, the type of ownership functions is substantiated and their parameters are determined, a number of recommendations for their clarification for investors with different propensity to risk are developed. Examples of using the proposed approach to applied problems of investment process management are provided. Application of this model will allow the enterprise to optimize the use of limited financial resources, reduce the need for borrowed funds, and increase the effectiveness of management decisions in the investment sphere.
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Sirait, Emmanuel Parulian, Yasir Salih, and Rizki Apriva Hidayana. "Investment Portfolio Optimization Model Using The Markowitz Model." International Journal of Quantitative Research and Modeling 3, no. 3 (September 3, 2022): 124–32. http://dx.doi.org/10.46336/ijqrm.v3i3.344.
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The stock portfolio is related to how someone allocates several shares in various types of investments so that the results achieve maximum profit. By implementing a diversification system or portfolio optimization on several stocks, investors can reduce the level of risk and simultaneously optimize the expected rate of return. This study aims to determine which stocks listed on the Indonesia Stock Exchange (IDX) and included in the portfolio for the 2021-2022 period are eligible to be included in the optimal portfolio and to determine the proportion of funds for each share in the formation of the optimal portfolio. The population in this study are all shares included in the Indonesia Stock Exchange (IDX) listed on the Indonesia Stock Exchange (IDX) for the 2021-2022 period. The sample of this research is five stocks that are candidate portfolios. The sampling method uses a purposive sampling method with the criteria of 5 stocks with the highest positive ratio. The population in this study was all 30 companies included in the IDX30, while the samples were five companies. Data were analyzed using a mean-variant optimization model with a research duration between May 2021 and May 2022. Based on the results of the investment portfolio optimization analysis on the 5 (five) selected stocks, this study shows that, out of 23 stocks, five stocks are eligible to enter the optimal portfolio with their respective proportions, namely PT Adaro Energy Indonesia Tbk (ADRO) 20%, PT Astra International Tbk (ASII) 26%, PT Merdeka Copper Gold Tbk (MDKA) 10%, PT XL Axiata Tbk (EXCL) 19%, PT Bukit Asam Tbk (PTBA) 25%. The portfolio of these stocks generates an expected return of 0.00217 at a risk level of 0.00022. It is hoped that this research can be helpful to add to the literature on investment optimization models, especially the concentration of Mathematics in Finance, and serve as an additional reference for further research, as well as an alternative for investors in optimizing investment portfolios.
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Zaitsev O. "MODEL DEVELOPMENT OF INVESTMENT EFFICIENCY ASSESSMENT IN INNOVATION PROJECTS (Part 2)." Vìsnik Sumsʹkogo deržavnogo unìversitetu, no. 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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Chen, Jiahao. "Research on the Markowitz Model-based Stock Investment Approach." BCP Business & Management 38 (March 2, 2023): 2092–97. http://dx.doi.org/10.54691/bcpbm.v38i.4042.
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In the world of financial investments, risk is one of the hottest subjects, and diversifying your investment portfolio is one of the best ways to do so. When choosing investments, consumers always aim to reduce risk while maintaining a specific rate of return. The risk and return on a portfolio are discussed using mathematical and statistical techniques. It is made clear that there are two types of risk: systematic risk and unsystematic risk, the latter of which can be diversified through a portfolio. Since 2019, the Covid-19 epidemic in the United States has had variable degrees of impact on different businesses. Others have been stimulated while many industries have stagnated. This article examines the effects of the pandemic on the global healthcare industry while concentrating on the medical stock market. Using the investing database, each medical company's data was examined. The Markowitz model is used to study two time periods before and after the outbreak. According to specific real-world circumstances, this conclusion can assist investors in making the best investment choices for risky investment portfolios.
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Putri, Nurhadini, Mochamad Suyudi, and Ibrahim Mohammed Sulaiman. "Investment Portfolio Optimization Model with Mean-Std Deviation." International Journal of Quantitative Research and Modeling 3, no. 4 (November 4, 2022): 173–80. http://dx.doi.org/10.46336/ijqrm.v3i4.359.
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Stock investment is an investment in securities with the hope of getting profits in the future. Investors are expected to make a series of portfolios to get optimal results from investments. This discussion aims to find the weight of the funds invested along with the returns and risks. The method used is the mean + std deviation. The results of this portfolio optimization show that the risk aversion coefficient is 0.1. The optimum weight for investment in each company is KLBF (22.67%), PGAS (8.796%), BBCA (41.77%), ASII (8, 24%), and SMAR (18.52%) with a maximum ratio of 8.8% of a return of 0.0881% and a risk of 1.0009%. The results of this portfolio optimization are expected to help investors by dividing the number of funds to be invested by the return and risk.
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Vasylenko, Yuriy. "Overcoming the Inadequacy of Economic Dynamics Models." Ekonomika 101, no. 1 (May 2, 2022): 84–101. http://dx.doi.org/10.15388/ekon.2022.101.1.5.
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Known models of economic dynamics are too aggregate, so inadequate to the real economy. The analyst will not be able to identify the real dynamics of the economy among the big mistakes. They have no connection between investments, their efficiency, and the rate of economic growth. There is no transition from the optimal share of savings in the country to the agents’ optimal shares, managing investment sources.To link investment and the pace of economic growth, the author introduced the concept of technical productivity of investments, which measures their ability to change the rate of material or labor costs.Based on the technical productivity of investment, the author has derived the equation (not identity) of economic dynamics.Instead of the highly aggregated models, the author developed an adequate causal simulation model, reflecting the economy as a closed system with positive feedback of the investment from incomes and economic growth from investment. The author determined the dynamics of the Ukrainian economy with different technical productivity of investment on this model.
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Viktorova, N. N. "EVOLUTION OF THE LEGAL CONCEPT OF "FOREIGN INVESTMENT" IN A NETWORK SOCIETY." Lex Russica, no. 11 (November 22, 2019): 88–95. http://dx.doi.org/10.17803/1729-5920.2019.156.11.088-095.
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The paper deals with the problems of definition of the concept "investment" in multilateral and bilateral investment treaties. The author shows how the approach to the definition of "investment" in international investment agreements has changed over time, how this concept differs in modern agreements from those enshrined in agreements concluded more than ten years ago. It is noted that today we can talk about the trend of a broad definition of the concept of investment in international treaties, that is, investments are understood as any kind of property values; further the author specifies what applies to them.International treaties on the protection and promotion of investment also include the right to engage in business activities. It turns out that investment disputes can arise from ordinary commercial activities, for example from a contract of sale. However, there are documents that do not include monetary claims arising from commercial contracts, such as the 2012 model bilateral investment Treaty of the South African development Community.Generally, investment protection agreements do not distinguish between direct and portfolio investments. Therefore, portfolio investments also enjoy the protection of these investment treaties. However, some of the international investment agreements that are currently being concluded specify that portfolio investments are excluded from their scope, such as the Model bilateral investment Treaty of the South African Development Community.In the literature there are three approaches to the qualification of foreign arbitral awards as a foreign investment. According to one of them, the award is an investment, because it is part of the entire activity of the investor. Some modern international investment agreements contain provisions according to which arbitration, judicial decisions are not investments.
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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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Pasekova, Marie, Zuzana Fiserova, Zuzana Crhova, and Dagmar Barinova. "Investment Portfolio Optimisation Model Based on Stocks Investment Attractiveness." Verslas: Teorija ir Praktika 16, no. 2 (June 30, 2015): 185–94. http://dx.doi.org/10.3846/btp.2015.484.
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The purpose of this contribution is to ascertain the rate of creditors’ satisfaction in debt relief. The aim of the paper is to set an approximation functions which guarantee a value of 100% of satisfaction of creditors’ receivables for a zero rate of debt and asymptotically nears a level of 30% with an increasing rate of debt. There are two methods used in this paper. Method of analysis was used to analyse of collected data on the course of debt relief of natural person. The method of the ordinary least squares method was used for setting the approximation functions. On the basis of a survey, it was found that individual creditors are satisfied to 50% of their ascertained receivables.
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Rosemberg, Anabella, Daniel Magraw, Leila Chennoufi, Krycia Cowling, Charles Di Leva, Jonathan Drimmer, Chiara Giorgetti, et al. "Model Green Investment Treaty: International Investment and Climate Change." Journal of International Arbitration 36, Issue 1 (February 1, 2019): 95–134. http://dx.doi.org/10.54648/joia2019005.
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Mitigating and adapting to the extraordinary threats posed by climate change will require dynamic responses across all elements of human society. Governments face urgent, unprecedented challenges in this regard, including with respect to regulating foreign investment. The international investment regime was not designed to take account of this reality, however, either substantively or with respect to the settlement of disputes. This article proposes a new approach to foreign investment regulation designed to rectify this systemic failure, in the form of an innovative bilateral investment treaty drafted by a multidisciplinary team of internationally renowned experts. The approach proposes a balanced, reciprocal set of obligations for both investors and host states consistent with the Paris Agreement. To incentivize transformation, moreover, the article argues for investment treaties that demand good governance by investors, establish sufficient policy space for host states (via a sectoral approach that specifically addresses areas such as climate change, water, agriculture, human rights, indigenous peoples and public health), and adopt a flexible, fair, accountable and transparent approach to dispute settlement, including enhanced standards for arbitrators and a Code of Ethics—among other innovations.
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Rödlich, C. J. F., H. H. A. Hergeth, A. M. Seyam, and G. A. Berkstresser. "Investment Decisions in Weaving–An Investment Support Model (ISM)." Journal of the Textile Institute 87, no. 1 (January 1996): 6–20. http://dx.doi.org/10.1080/00405009608659098.
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Mihanzadeh, Hooman, Yulizar Widiatama, Marzieh Geramian Nik, Hamed Gholami, and Zahra Akbardoost Laskoukalayeh. "A Novel Integrated AHP-QFD Model for Investment Banks." Applied Mechanics and Materials 548-549 (April 2014): 1959–64. http://dx.doi.org/10.4028/www.scientific.net/amm.548-549.1959.
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This paper proposes an effective model to integrate shareholders’ requirements with regard to Bank’s investment categories in an effort to rank the best project portfolios in order of importance whereby they reap the benefits of their secured investments. This study attempts to utilize Quality Function Deployment (QFD) in an investment bank sector, a customer oriented design tool which starts with House of Quality (HOQ). In this manner, Analytical Hierarchy Process (AHP) approach was employed to fulfill the intended HOQs through measuring the relative importance of shareholders’ needs as well as finding the relative weight of each investment more precisely. For this purpose, a well-structured questionnaire initially should be developed to identify the selection-criteria “wants” and thereby analyzing the intensity of internal relationships through cooperation with the Bank’s Decision makers (BDMs). The results of project portfolio selection revealed that Project D has been nominated as the most potential investment category, followed by Project C, Project B, Project E and Project A. Hopefully, with implementation of the proposed model, investment banks will become more adaptive and competitive.
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PARTHASARATHY, V. R. PERRY. "Managing uncertainty: A case for using real options with option pricing model (OPM) to evaluate capital investment." TAPPI Journal 12, no. 7 (August 1, 2013): 69–77. http://dx.doi.org/10.32964/tj12.7.69.
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The pulp and paper industry relies heavily on the traditional discounted cash flow-based net present value (DCF-NPV) for making capital investment decisions. The deficiency of the DCF-NPV model is that it is static; once a pattern of cash flow is established, management does not have the option to change the direction when new information is available. However, flexibility to alter the investment decision is a powerful strategic and capital investment tool. Abundant research has established strong precedence for applications of “real options” in operational and strategic settings to provide useful insights in the evaluation of irreversible investments under uncertainty. The binomial or Black-Scholes option pricing model (OPM) for strategic planning and capital investment has been used in many other industries but not in the pulp and paper industry. The pulp and paper industry, though very capital intensive, has provided poor to moderate return on investment or return on capital and has never used the OPM and the flexibility it offers for capital investment decisions. This paper makes a case for using OPM for capital investment decisions by using the example of a hypothetical North American mill considering investments to modernize its papermaking operation.
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Ma, Chao. "DEA Model Construction and Investment Efficiency Analysis of Overseas Electric Power Market in Clean Energy." E3S Web of Conferences 267 (2021): 01008. http://dx.doi.org/10.1051/e3sconf/202126701008.
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The paper aims to further explore the current situation of Chinese investment in overseas clean energy and analyze the development of the power industry in the field of clean energy. The paper elaborates the present development status of clean energy based on the Data Envelopment Analysis (DEA) model and investment efficiency theories, analyzing the potential risks taken by China’s electric power industry from the investment in overseas clean energy and calculating the power enterprises’ investment efficiency. The results reveal that China’s overseas investment in clean energy has developed rapidly. However, from 2016 to 2017, due to the accelerated investment in clean energy, the comprehensive investment efficiency of clean energy has dropped significantly, to 79.1% and 78.7%, respectively. Subsequently, the comprehensive investment efficiency increased significantly, reaching 80.4% in 2019. Between 2015 and 2019, effective investment in clean energy has reached the highest, 32% in 2015, while there are more ineffective investments in 2016. After 2017, the proportion of power enterprises’ investment in clean energy has increased significantly, accounting for 32% in 2019. In future development, the proportion of investment in this field will continue to rise. Hence, clean energy boasts good development prospects.
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Cottin-Euziol, Edouard. "The repayment of bank credits having financed investments in the Domar model." Brazilian Keynesian Review 1, no. 2 (December 24, 2015): 177–92. http://dx.doi.org/10.33834/bkr.v1i2.37.
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In the Domar model, based on the Keynesian multiplier theory, investment generates savings. Therefore, savings cannot fund investments, at least ex ante. Investments have first to be financed by bank credit, hence the question on their repayment. In this article, we suppose that investments are financed by bank credits issued on several periods, as it typically takes years for firms to reimburse their investment debt. What we then obtain is that, in order to avoid an overproduction crisis, the rate of capital accumulation has to gradually rise throughout a growth phase. This result paves the way to a theory of cycles based on the repayment of bank credits.
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Oleq Dyshin, Ibrahim Habibov, Sevda Aghammadova, Oleq Dyshin, Ibrahim Habibov, Sevda Aghammadova. "ALLOCATION OF CAPITAL INVESTMENTS OF AN OIL COMPANY BASED ON INDEPENDENT OPPORTUNITY INFORMATION." ETM - Equipment, Technologies, Materials 11, no. 03 (May 23, 2022): 82–87. http://dx.doi.org/10.36962/etm11032022-82.
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To solve the problem of investment allocation with optimization of the total level of return on investment for projects under conditions of risk associated with uncertainty of project income, a linear combination with non-negative coefficients of two loss-making models was used: the model of the usual minimax loss-making and the model of the minimax loss-making level. The problem of probabilistic programming obtained as a result of this combination, provided that the probabilistic variables characterizing the profitability of investments in projects are independent (unrelated), is reduced to a linear programming problem. The solution of this problem by the simplex method gives a vector of the equity distribution of investments that determine the total return of investments by the criterion of the minimum of the loss function. On the basis of the proposed approach to the optimal solution of the problem of investment allocation, an algorithm for project investment planning has been developed using a database of invested and returned funds for projects in previous planning periods, according to which distributions of possible investment returns are modeled. The numerical implementation of the algorithm is illustrated by the example of investment planning in an oil company for oil and gas production projects. Keywords: probability programming, investments, investment portfolio, minimax criterion, loss-making function, return on investment, income, concentrated distribution, probability distribution, measure of opportunity, measure of necessity, fractile model, probability variable, fuzzy variable membership function.
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Elrifai, Silke Noa, Hans Rusinek, and Simon R. Sinsel. "A Model Multilateral Treaty for the Encouragement of Investment in Climate Change Mitigation and Adaptation." Journal of International Arbitration 36, Issue 1 (February 1, 2019): 71–94. http://dx.doi.org/10.54648/joia2019004.
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The Paris Agreement sets out to limit global warming to below 2°C, yet the pathway to reach that goal is unclear. This specifically applies to the mobilization of investment for climate change mitigation and adaptation. One way to mobilize foreign investments is to create a favourable investment climate with the help of multilateral investment treaties. In this article, a model treaty is proposed to considerably increase climate-friendly investments while maintaining regulatory flexibility for signatory states. Building on Design Thinking principles, key challenges for the success of such a treaty are identified and provisions are crafted incorporating feedback from twenty-five experts from finance, policy, and legal domains. The proposal addresses four key challenges: (1) define climate change mitigation and adaptation investments; (2) decrease the barrier of limited access to capital due to perceived and actual risks; (3) combat insufficient investor trust in long-term contracts; and (4) retain states’ ability to regulate. The treaty proposal addresses these challenges by proposing, inter alia, a definition for mitigation and adaptation investments that establishes a link to the Nationally Determined Contributions under the Paris Agreement, an innovative financing mechanism, a conversion of host country subsidies to investment grants, and a performance verification using latest distributed ledger technology.
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Baariu, Mungiria James, and Njuguna Peter. "Relationship Between Selected Macroeconomic Variables and the Financial Performance of Investment Banks in Kenya." International Journal of Economics and Finance 13, no. 11 (October 28, 2021): 102. http://dx.doi.org/10.5539/ijef.v13n11p102.
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Currently, investment banks in Kenya are facing a lot of challenges due to persistence losses. However, the available studies are inadequate to aid investment banks in overcoming these challenges in Kenya due to mixed findings, resulting in rising uncertainty on equity investments’ performance, leading to massive losses among investment banks. This study, therefore, sought to model the relationship between inflation, GDP, interest rates, exchange rates, and financial performance of investment banks. Arbitrage pricing theory, Modern portfolio theory as well as classical economic theory (flow-oriented model) was used. A causal research design was adopted. The study found that inflation has negative significant influence on financial performance of equity investments among investment banks in Kenya. Also, GDP has positive and significant influence on financial performance of equity investments among investment banks in Kenya. Interest rate was also found to have negative and significant influence on financial performance of equity investments among investment banks in Kenya. In addition, exchange rate has negative significant influence on financial performance of equity investments among investment banks in Kenya. The study therefore recommends any investor including financial investors to methodically analyze inflation trends and understand how it affects the company’s financial performance. Investors must also be in a position to predict the future concerning inflation changes.
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Baariu, Mungiria James, and Njuguna Peter. "Relationship Between Selected Macroeconomic Variables and the Financial Performance of Investment Banks in Kenya." International Journal of Economics and Finance 13, no. 11 (October 28, 2021): 98. http://dx.doi.org/10.5539/ijef.v13n11p98.
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Currently, investment banks in Kenya are facing a lot of challenges due to persistence losses. However, the available studies are inadequate to aid investment banks in overcoming these challenges in Kenya due to mixed findings, resulting in rising uncertainty on equity investments’ performance, leading to massive losses among investment banks. This study, therefore, sought to model the relationship between inflation, GDP, interest rates, exchange rates, and financial performance of investment banks. Arbitrage pricing theory, Modern portfolio theory as well as classical economic theory (flow-oriented model) was used. A causal research design was adopted. The study found that inflation has negative significant influence on financial performance of equity investments among investment banks in Kenya. Also, GDP has positive and significant influence on financial performance of equity investments among investment banks in Kenya. Interest rate was also found to have negative and significant influence on financial performance of equity investments among investment banks in Kenya. In addition, exchange rate has negative significant influence on financial performance of equity investments among investment banks in Kenya. The study therefore recommends any investor including financial investors to methodically analyze inflation trends and understand how it affects the company’s financial performance. Investors must also be in a position to predict the future concerning inflation changes.
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Blagoev, Dimitar, and Krasimir Petkov. "EQUITY CROWDFUNDING AS A TYPE OF PROJECT INVESTING." Trakia Journal of Sciences 17, Suppl.1 (2019): 234–42. http://dx.doi.org/10.15547/tjs.2019.s.01.039.
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PURPOSE The Article aims to present the potential and capabilities of the application of equity crowdfunding as an option to invest and to form investment portfolios for the individual investors. The emphasis is shifted from the widespread use of the concept of crowdfunding, as a cutting-edge source for providing capital for investment projects of innovative companies (especially suitable source for the so called Startup companies), to its use as a tool for establishing an investment portfolio based on appropriate balance between the rates of return and risk. METHODS Various authors' views on key concepts such as investments, projects, investment projects, equity collective investment, investment portfolios, etc. have been clarified and summarized. The investment process is explained in the context of creating a portfolio of investments using equity crowdfunding platforms. Conceptually, the essential characteristic of the project theory, the theory of collective investment, with its methodological and mathematical tools, are revealed. RESULTS On this theoretical basis and adaptation, a conceptual methodological model has been developed, to be used for selection of portfolio of investment projects for equity collective investment. The model focuses on the optimization of rate of return, given the risk nature of the financial investment instrument used in collective investment. CONCLUSIONS Conclusions are presented about the main advantages and the respective limitations of the type of investments, subject of the paper.
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Denis, Laurent, and Magali Kervarec. "Optimal Investment under Model Uncertainty in Nondominated Models." SIAM Journal on Control and Optimization 51, no. 3 (January 2013): 1803–22. http://dx.doi.org/10.1137/100782528.
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Gao, Lei, Zhen-Yu Zhao, and Cui Li. "An Investment Decision-Making Approach for Power Grid Projects: A Multi-Objective Optimization Model." Energies 15, no. 3 (February 2, 2022): 1112. http://dx.doi.org/10.3390/en15031112.
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With the reform of the power system in China, investments in power grid projects across the whole power system are increasing. However, there are various objectives to achieve in the investment decision processes of power grid projects, so the rational investments of a grid project can be seen as a multi-objective optimization problem. Meanwhile, these issues have rarely been studied at home and abroad, and this paper will fill this gap. As a result, this study critically analyzed the application of a multi-objective optimization model to power grid investment. Firstly, the objective factors of grid investments were explored, which were quantified through quantitative methods. Secondly, based on the characteristics of power grid investment, a multi-objective optimization model was established, and the assumptions and constraints of the model were presented. Finally, NSGA-II was used for solving the multi-objective optimization model. The results show that: (1) Multi-objective optimization models are suitable for the study of and deriving solutions for power grid investment by establishing suitable objective functions, assumptions and constraints, (2) According to the conventional steps of NSGA-II, suitable steps can be established to search for an optimal solution to the objective set of a power grid investment and (3) Due to the different concerns of different project scenarios, Pareto frontier solutions can be selected as the practical references of power grid projects. Therefore, the solution set makes the implementation scheme more flexible.
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Lapeyre, Bernard, and Emile Quinet. "A Simple GDP-based Model for Public Investments at Risk." Journal of Benefit-Cost Analysis 8, no. 1 (2017): 91–114. http://dx.doi.org/10.1017/bca.2017.5.
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Investment decision rules in risk situations have been extensively analyzed for firms. Most research focus on financial options and the wide range of methods based on dynamic programming currently used by firms to decide on whether and when to implement an irreversible investment under uncertainty. The situation is quite different for public investments, which are decided and largely funded by public authorities. These investments are assessed by public authorities, not through market criteria, but through public Cost-Benefit Analysis (CBA) procedures. Strangely enough, these procedures pay little attention to risk and uncertainty. The present text aims at filling this gap. We address the classic problem of whether and when an investment should be implemented. This stopping time problem is established in a framework where the discount rate is typically linked toGDP, which follows a Brownian motion, and where the benefits and cost of implementation follow linked Brownian motions. We find that the decision rule depends on a threshold value of the First Year Advantage/Cost ratio. This threshold can be expressed in a closed form including the means, standard deviations and correlations of the stochastic variables. Simulations with sensible current values of these parameters show that the systemic risk, coming from the correlation between the benefits of the investment and economic growth, is not that high, and that more attention should be paid to risks relating to the construction cost of the investment; furthermore, simple rules of thumb are designed for estimating the above-mentioned threshold. Some extensions are explored. Others are suggested for further research.
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Huang, Hai Lun, Wu Xue Jiang, and Yin Zhen Zhong. "Study on Agricultural Investment Value of Listed Companies Based on Logistic Regression Model." Applied Mechanics and Materials 651-653 (September 2014): 1647–50. http://dx.doi.org/10.4028/www.scientific.net/amm.651-653.1647.
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This article is from the financial perspective to analyze the investment value of listed companies. Using independent two-sample T-test method and factor analysis of selected financial ratios, by building a logistic regression model for agricultural investment value of listed companies to judge, provides a method for determining the value of investments to investors.
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Cai, Zeheng, and Yantong Long. "The Efficiency between Markowitz Model and Single Index Model." BCP Business & Management 26 (September 19, 2022): 916–28. http://dx.doi.org/10.54691/bcpbm.v26i.2054.
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It is important to investigate the different impact factors on the establishment of investment portfolio. In order to maximize the profit of a portfolio, this research selects six stocks: Adobe (ADBE), International Business Machines Corp (IBM), Bank of America Corporation (BAC), Citigroup (C), Southwest Airlines Co (LUV) and Alaska Air Group Inc. (ALK) as an empirical case to conduct investment decision. This research compares different results of two models (Markowitz model and Index Model) by analyzing the data of the portfolio such as minimum risk portfolio and maximum Sharpe Ratio portfolio. This research finds that the Markowitz Model is more appropriate to the portfolio establishment, which is presented by its sharper efficient frontier. Under all the conditions the study considered, the Markowitz Model always gets more returns than the Index Model when the risk increases by the same amount. Therefore, this research concludes that the Markowitz Model is more suitable for this portfolio. By analyzing the portfolio in two models, the study has found a better model for this portfolio, thus make more rational investments.
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Pilipuk, A. V., and A. V. Gerasenko. "Theoretical foundations of corporate investment in the agroindustrial complex." Agrarian Economics, no. 7 (July 29, 2023): 3–19. http://dx.doi.org/10.29235/1818-9806-2023-7-3-19.
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The most important classification features reflecting the differences between the terms “investment” and “investment” are singled out, the essence and content of corporate investments are revealed. A model of the “investment field” is proposed, reflecting the relationship of scientific and applied elements that form and determine the essence of corporate investment. The algorithm of corporate investment is substantiated.
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Kuternin, Mikhail I., and Aleksandr A. Silaev. "OPTIMIZATION OF INVESTMENT PROCESSES FOR THE DEVELOPMENT OF THE OIL INDUSTRY." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 9/1, no. 129 (2022): 101–7. http://dx.doi.org/10.36871/ek.up.p.r.2022.09.01.010.
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The article develops a methodology of determining the optimal indicators of the investment program for the development of the region oil industry. The issues of assessing the effectiveness of capital investments in the exploration and development of oil fields, taking into account the delayed and distributed over time impact of such investments on the volume of crude oil production, were investigated. The methodological basis of the study is mathematical modeling of investment processes in the oil industry using distributed lag models. Much attention is paid to the study of the influence of random factors on the effectiveness of capital investments and the parameters of the optimal investment program. The article develops a methodology that allows excluding the vector of unobservable system parameters from the equations of the mathematical model and takes into account the change in the nature of the influence of random factors when replacing endogenous parameters of the model. The proposed model of the investment process shows how the efficiency of capital investments in the development of the region oil industry increases depending on the accepted structure of such investments lag. The conclusion indicates the possibilities for improving the efficiency of investments using the developed model. The authors propose to synthesize the global optimization method with the included distributed lag model, which is used according to the method improved in the article.
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Dykas, Paweł, and Tomasz Misiak. "The Neoclassical Growth Model with Sinusoidal Investments." Przegląd Statystyczny 63, no. 1 (March 31, 2016): 49–66. http://dx.doi.org/10.5604/01.3001.0014.1148.
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The aim of the present study is an attempt to extend the neoclassical model of economic growth of Solow by repealing the assumption of fixed investment and introducing an investment function dependent sinusoidally on the time. The adoption of the sinusoidal function of investment is substantiated by the fact that investments (like manufacturing) are largely depended on the economic situation, which is subject to periodic fluctuations. The authors introduce the theoretical considerations on the notion of cyclical and smooth path of temporal capital-labour ratio and labour productivity. When using these tools the authors identified, by calculating the relative deviations of the mentioned path, the impact of investment function dependent sinusoidally on the time.In the empirical analysis the authors conducted the calibration of parameters used by the research model. Based on panel data for the EU15 between the years 2000–2013 the α parameter (production flexibility in relation to capital) was estimated first at 0,349. That value was adopted to further numerical analysis. In the second stage the simulations of numerical, calibrated deviations of temporal cyclical path of capital-labour ratio (labor productivity) from the smooth path of capital-labour ratio (labor productivity) was performed. When conducting numerical analysis the impact of different investment rates (15%, 20%, 25%) and periods of cyclical fluctuations (4 or 10 years) have been considered in relation to the formation of these deviations. Numerical analysis for the economies of the EU15 group was made for one hundred time series.