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Pleis, Letitia Meier Mayper Alan G. "Investment decisions influence of an internet stock message board /." [Denton, Tex.] : University of North Texas, 2007. http://digital.library.unt.edu/permalink/meta-dc-5130.
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Kaplan, Alan S. "Essays on financing decisions redemption features and the joint capital structure/debt maturity decision /." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 1999. http://www.collectionscanada.ca/obj/s4/f2/dsk1/tape7/PQDD_0022/NQ39276.pdf.
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Gerrard, W. "Selection decisions for investments in new technology." Thesis, University of Strathclyde, 1987. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.382309.
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Möller, Eva, and Samuel Öquist. "Investing for a sustainable future : drivers and barriers for sustanable venture capital investement decisions." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-388409.
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Venture Capital can play a key role for our future by placing their capital in sustainable investments. They have the capacity to fuel new ventures, sprung from ideas on how to solve the sustainability challenges we face today. In this paper we research the drivers and barriers for sustainable venture capital investment decisions. Our findings show that increased knowledge on sustainability issues is affecting the general public opinion, policies and governance and the way we choose to live, consume and do business. This in turn increases the market potential for sustainable businesses. Therefore, sustainable investments are more and more considered as a good investment, not only in regard to social and ecological aspects but also financial returns. A model with our findings showing the drivers and barriers for sustainable venture capital investment decisions will be presented aiming encourage and push toward a more sustainable future.
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Wooster, Rossitza B. "Three essays on firms' foreign direct investment decisions /." view abstract or download file of text, 2002. http://wwwlib.umi.com/cr/uoregon/fullcit?p3055724.
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Thesis (Ph. D.)--University of Oregon, 2002.Typescript. Includes vita and abstract. Includes bibliographical references (leaves 94-97). Also available for download via the World Wide Web; free to University of Oregon users.
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Kwon, Hyok-Jon Dharma. "The impact of uncertainty on operational decisions." Diss., Restricted to subscribing institutions, 2008. http://proquest.umi.com/pqdweb?did=1580690031&sid=1&Fmt=2&clientId=1564&RQT=309&VName=PQD.
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Pleis, Letitia Meier. "Investment decisions: Influence of an Internet stock message board." Thesis, University of North Texas, 2007. https://digital.library.unt.edu/ark:/67531/metadc5130/.
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The Internet provides many sources of financial information that investors can use to help with investment decisions and in interpreting companies' accounting information. One source of information is Internet stock message boards such as those at Yahoo! Finance. This source allows for anonymous postings and information exchange. Despite the possibility of the information being incorrect many individuals visit these message boards. The purpose of this study is to investigate Internet stock message boards and address the primary question: From an individual investor perspective, do message boards, which contain accounting information, influence investment decisions? The question is addressed using psychology rumor literature and attitude theories. Message board postings are a type of rumor, since not all the information is verified and is usually intended to persuade a belief or influence a decision. Further, the messages may influence an investor by causing a change in attitude about the investment. Using an experiment, message board influence on an investment decision and attitude was tested. The results indicated that individuals that received negative message board postings did have a significantly higher change in investment amount as compared to a control group that did not receive any message postings. The positive message board group and the control group were not significantly different in their amount of investment change. The results of the study also show that message board postings influenced attitude, those that received negative (positive) postings had a negative (positive) attitude about the investment. It was further found that those with a negative (positive) attitude decreased (increased) their investment. Finally, contrary to expectations, investment experience did not lead to an individual being less influenced by message board postings. This study contributes to the accounting literature by investigating an additional source of Internet financial reporting that may or may not contain correct information. The SEC is concerned over the manipulative opportunities that are available within these message boards and many investors are exploring these new sources of information instead of relying on traditional accounting information. This study finds that negative postings have an influence on investment decision and possibly should be investigated as manipulative techniques.
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Bana, Mohammed. "Complexity perspectives and investment decisions." Thesis, Stellenbosch : University of Stellenbosch, 2010. http://hdl.handle.net/10019.1/2980.
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Thesis (MPhil (Information Science))--University of Stellenbosch, 2010.ENGLISH ABSTRACT: This thesis investigates investment theory in the light of complexity theory. These insights from diverse fields contain powerful images, metaphors and ways of thinking that allows one to seek new ways of comprehending the nature of the economy and therefore the nature of investment and the related issues of uncertainty and decision making. Complexity theory views the economy as being a dynamic, continuously adaptive, nonlinear system. This is in contrast to traditional or classical economic theory that views the economy as being a simple, linear, equilibrium deterministic system. This thesis is a conceptual study exploring the implications of a complexity worldview for investment decisions by looking at the nature and characteristics of complexity and then overlaying it on the characteristics of the economy. It is argued that complexity is caused by three elements: the structure of the system, human behaviour and exogenous factors. Thereafter follows an analysis of how investment decisions are made in the light of complexity by illustrating the investment models of two very successful, yet different investors: Warren Buffet and George Soros. Buffet’s model hinges on value. He realises that emergent phenomenon driven by irrational behaviour of investors leads to intrinsic values of shares to differ widely from perceived value. When quoted or perceived values are low than it is advisable to purchase as you have a margin of safety. Over the long term the market recognises the real value of the share. He tries to ignore the vagaries of the market and to focus on fundamentals. His list of fundamentals include; the franchise value of the company, quality of management and industry dynamics. George Soros in contrast utilises emergence patterns to locate potential investments. His model is that systems are flawed, human thinking and decision making is flawed and the interaction of the two lead to perturbations and oscillations. He focuses in trying to understand the flaw in systems and in human behaviour and to find some kind of pattern that he could utilise to make a profit. It is shown that both investment models can be understood from a complexity perspective and that these two investors built aspects from complexity into their decision models.
AFRIKAANSE OPSOMMING: Die tesis ondersoek investeringsteorie in die lig van kompleksiteitsteorie. Met die hulp van metafore en insigte vanuit kompleksiteitsdenke word gesoek na nuwe maniere om die aard van die mark en investering verwante aspekte van onsekerheid en besluitneming te verstaan. Die kompleksiteitsperspektief sien die ekonomie as’n dinamiese en aanpassende nie-lineêre sisteem. Dit word gedoen deur die implikasies wat kompleksiteit vir investeringsbesluite inhou konseptueel te ondersoek. Die aard en eienskappe van komplekse sisteme word verduidelik en dan op die ekonomie toegepas. Daar word geargumenteer dat kompleksiteit deur drie elemente veroorsaak word: die struktuur van die sisteem, menslike gedrag en eksogene faktore. Daarna word die praktyk van investeringsbesluite geanaliseer in terme van kompleksiteit duer investeringsmodelle van twee suksesvolle, maar uiteenlopende, investeerders te ondersoek, naamlik Warren Buffet en George Soros. Buffet se model draai rondom waarde. Hy sien die irrasionele gedrag van investeerders as ‘n ontvouende fenomeen wat lei tot ‘n gaping tussen intrinsieke en verwagte waarde. Sy investering word gebaseer op die aanname dat oor die langer termyn die mark die intrinsieke waarde herken. Hy ignoreer dus korttermyn skommelinge in die verwagte waarde en fokus op die fundamentele, waaronder die maanwaarde van die besigheid, die kwaliteit van die bestuur, en industrie-dinamika tel. Soros se model daarenteen gebruik ontvouende patrone en potensiële investeringsgeleenthede te ontbloot. Sy model is dat sisteme inherente teenstrydighede het as ook menslike gedrag en besluitneming. Dit lei tot ossilasies en versteurings. Sy fokus is gerig daarop om hierdie versteurings in die sisteem tot voordeel aan te wend. Daar word getoon hoedat beide investeringsmodelle vanuit ‘n kompleksiteitsperspektief verstaan kan word en dat die twee investeerders sulke aspekte in hulle investeringsbesluite inbou.
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Collier, Charles Lee. "Developing indicators for investment decisions in Poland's textile complex." Thesis, Georgia Institute of Technology, 1997. http://hdl.handle.net/1853/8493.
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Regnier, Eva Dorothy. "Discounted cash flow methods and environmental decisions." Diss., Georgia Institute of Technology, 2001. http://hdl.handle.net/1853/24544.
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Chou, Tzu-Chuan. "Managing strategic investments decisions : the impacts of their IT content, the effectiveness of decisions and a protocol for evaluation." Thesis, University of Warwick, 1998. http://wrap.warwick.ac.uk/78798/.
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The strategic potential of information technology (IT) is now well recognised, but strategic IT projects have high failure rates. The present study proposes the concept of the degree of IT intensity of SIDs and aims to answer the question of whether the degree of IT intensity matters in relation to the decision process, decision content, decision outcome and evaluation methods. Furthermore, critical factors which impact on the effectiveness of SIDs are explored, and a protocol is proposed by mapping the quantitative findings to state-of-art evaluation approaches. A structured questionnaire was developed, and empirical work was undertaken among Taiwanese manufacturers. Experts in two professional associations, the Chinese Association for Industrial Technology Advancement and the Chinese Productivity Centre, helped to identify organisations considered to be representative of the population. 270 organisations were selected and 94 responded. Of these, 80 were valid for further analysis. Several variables are found to be significantly correlated to IT intensity. The Hypotheses testing shows that interaction, the accuracy of information and strategic considerations are mediators in the linkage of IT involvement and the effectiveness of SIDs but the direct link from IT intensity to the effectiveness of SIDs proved to be weak. Consequently, the stepwise variable selecting procedure was employed to reveal the critical variables which impact significantly on the effectiveness of SIDs. The present study seeks to develop a protocol which addresses the practical aspect of SIDs and SITIDs in terms of rules and to integrate these rules to form a model for evaluation. Five major mechanisms of this model are discussed: the scanning mechanism, the strategic flexibility mechanism, the evaluation mechanism, the proactive mechanism, and the feedback mechanism.
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Harijono, 1970. "Capital structure decisions of Australian family controlled firms." Monash University, Dept. of Accounting and Finance, 2005. http://arrow.monash.edu.au/hdl/1959.1/5133.
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SANTOS, LIANA RIBEIRO DOS. "FINANCIAL KNOWLEDGE AND ITS RELATION WITH DECISIONS ADDRESSING RISK TOLERANCE, INDEBTEDNESS AND INVESTMENTS." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2013. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=22198@1.
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PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIROO principal objetivo da tese foi examinar a relação do conhecimento financeiro com as decisões financeiras pessoais. Para atingir este objetivo foram elaborados três ensaios, sendo o primeiro um exame da relação entre o conhecimento financeiro e a tolerância ao risco. O segundo ensaio verificou a relação do conhecimento financeiro com as decisões de endividamento, enquanto o terceiro investigou como as decisões de investimento são afetadas por esse conhecimento. Foram propostas medidas para avaliar os níveis de conhecimento financeiro básico, de crédito e de investimento, adaptadas a partir da revisão da literatura para o contexto de produtos financeiros brasileiros. Com base nos resultados da pesquisa, realizada com 467 jovens universitários, foram propostos os índices de conhecimento financeiro básico, de crédito e de investimento, usados para verificar a relação do conhecimento financeiro com a tolerância ao risco e com as decisões de endividamento e investimento. Foram estabelecidos modelos econométricos para testar as hipóteses de pesquisa. O grupo estudado apresentou bom nível de conhecimento financeiro, sendo a maior dificuldade relacionada ao conceito dos juros compostos. A compreensão das questões relativas a inflação e ilusão monetária apresentaram bons resultados, o que pode ser atribuído à experiência inflacionária vivida no país. Os resultados mostraram que existe relação entre o conhecimento financeiro e a tolerância ao risco, sugerindo que pessoas com maior conhecimento financeiro seriam mais propensas a escolher produtos financeiros de maior risco. Nos demais ensaios observou-se também relação entre conhecimento financeiro e as decisões financeiras. No que se refere ao uso do crédito, foram encontradas evidências de que pessoas com maiores níveis de conhecimento financeiro de crédito tendem a fazer uso de produtos de crédito menos onerosos. Por outro lado, na avaliação dos investimentos, o estudo revelou que os indivíduos que possuem menor grau de menor conhecimento financeiro são aqueles que não fazem investimentos.Utilizando a técnica de análise de cluster promoveu-se o agrupamento dos sujeitos em categorias de endividamento e de investimento, que em seguida foram analisadas em conjunto com as características sociodemográficas de cada grupo. Nesta análise verificou-se que os mais jovens praticamente não fazem uso de operações de crédito e usam basicamente o cartão de crédito. Estes são também os que fazem menos investimentos.Os resultados deste estudo exploratório trazem importantes contribuições para agenda de programas de educação financeira, identificando grupos mais expostos às operações de crédito mais onerosas, bem como grupos menos preparados para as incertezas financeiras do futuro. As evidências obtidas poderão ser aplicadas em políticas públicas voltadas para melhoria nos padrões de conhecimento financeiroe para melhor utilização dos produtos e serviços financeiros.
The main purpose of the thesis was to assess the relation between financial knowledge and personal financial decisions. So as to achieve such goal, three essays were carried out: the first one addressed the relation between financial knowledge and risk tolerance, while the second analyzed the relation between financial knowledge and debt decisions and the third focused on investment decisions.In order to evaluate the financial knowledge, we proposed some measurements of knowledge on basic financial concepts, on credit and investments, which were extracted from a literature review and adapted to the context of Brazilian financial products. According to the results from a research conducted with 467 young university students, some rates of knowledge on basic financial concepts, on credit and investments were suggested, so as to verify the relation between financial knowledge, risk tolerance and both debt and investment decisions. Some econometric models were set forth to test the hypothesis of such research. The studied group presented a good level of financial knowledge, and the most significant difficulty faced by these individuals was related to compound interests. In answer to questions about inflation and monetary illusion, they showed good results, which may be attributed to the recent inflationary experience lived within the country.The results showed a relation between financial knowledge and risk tolerance, thus suggesting that individuals with higher financial knowledge would be more inclined to opt for higher-risk financial products. The other essays also disclosed a relation between financial knowledge and financial decisions. As refers to the use of credits, some evidences indicate that individuals with higher financial knowledge on credit tend to make use of less onerous credit products. Besides, in relation to investments, we found that individuals with low financial knowledge are those who less likely to invest in financial products.By using the cluster analysis method, we grouped the studied individuals within categories relating to indebtedness and investment, which were subsequently assessed in the light of social and demographic characteristics of each group. Upon such analysis, we verified that the youngest individuals practically refrain from making use of credit operations, and basically use credit cards. They are also the ones who make less investment.The results from such exploratory study bring material contributions to the agenda of financial education programs, as they identified groups which are more exposed to high-cost borrowing, as well as groups which are less prepared to future financial uncertainties. The evidences hereby disclosed may be applied to public policies aimed at the improvement of financial knowledge standards, as well as at a better use of financial products and services.
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Rodriguez, Javier A. "Capacity expansion and capital investment decisions using the Economic Investment Time Model : a case oriented approach /." Thesis, This resource online, 1994. http://scholar.lib.vt.edu/theses/available/etd-07292009-090518/.
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Elliott, Wynter Brooke. "Reconciling GAAP losses and pro forma profits : effects on investor judgments and decisions /." Thesis, Connect to this title online; UW restricted, 2003. http://hdl.handle.net/1773/8731.
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Yang, Mirng Bih. "A financial system for capital investment decisions in a manufacturing environment." Diss., Georgia Institute of Technology, 1992. http://hdl.handle.net/1853/24940.
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Olin, Anna, and Julia Johnsson. "Immateriella investeringsbeslut : En kvalitativ studie om beslutsprocessen vid immateriella investeringar och faktorer vid immateriella investeringsbeslut." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-86228.
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Bakgrund och problem: Immateriella investeringar har ökat inom det svenska näringslivet och utgör en betydande del av landets totala investeringar. Fortsättningsvis är immateriella investeringar väsentliga för samhällets och företagens produktivitet samt konkurrenskraft. Utvecklingen av immateriella investeringar tyder på att betydelsen av immateriella investeringsbeslut ökat. Trots det uppmärksammas ämnesområdet inte av den nuvarande forskningen eller litteraturen i en större omfattning. Syfte: Syftet är att studien ska bidra till en djupare förståelse angående immateriella investeringar genom att generera kunskap inom ett område som inte tidigare uppmärksammats i en större omfattning. Uppsatsen avser att tillföra information i relation till den immateriella beslutsprocessen samt angående faktorer som anses utgöra en väsentlig påverkan på det immateriella investeringsbeslutet. Metod: Studien avser en kvalitativ flerfallsdesign där fyra företag har utgjort det empiriska underlaget. Vidare genomfördes intervjuerna på ett semi-strukturerat tillvägagångssätt för att erhålla information.Slutsats: De immateriella investeringarnas beslutsprocessen initieras genom en identifiering av problem och målsättning, om företaget har upplevt ett initialt dilemma. Därefter framställs olika investeringsalternativ som utvärderas utifrån väsentliga faktorer. Avslutningsvis genomförs det immateriella investeringsbeslutet av högre insatser i organisationen. Väsentliga faktorer vid det immateriella investeringsbeslutet är lönsamhet, ny teknologi, tillväxt och riskbedömning. Nyckelord: Immateriella investeringar, investeringsbeslut, beslutsunderlag, immateriell beslutsprocessBackground and problem: Intangible investments have increased in the Swedish business sector and constitute a significant part of the country's total investments. Intangible investments are essential for the society's productivity and companies competitiveness. The development of intangible investments indicates that the importance of intangible investment decisions has increased. Despite this, the subject area is not noticed by the current research or literature to a greater extent. Purpose: The purpose of this study is that it will contribute to a deeper understanding of intangible investments by generating knowledge in an area that has not previously been recognized to a greater extent. The paper intends to provide information in relation to the intangible decision-making process and regarding factors that are considered to have an impact on the intangible investment decision. Method: The thesis is based on a qualitative multi-case design in which four companies have constituted to the empirical basis. Furthermore, the interviews were conducted on a semi-structured approach to obtaining information.Conclusion: The decision-making process of the intangible investments is initiated through an identification of problems and goals, if the company has experienced a first dilemma. Then there are different investment options that are evaluated based on essential factors. Finally, the intangible investment decision is made by higher units in the organization. Key factors in the intangible investment decision are profitability, new technology, growth and risk assessment. Keywords: Intangible investments, investment decisions, decision basis, intangible decision process
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Roncagli, Francis Blaise. "Three Essays on Financing and Investment Decisions in Small U.S. Firms." Cleveland State University / OhioLINK, 2012. http://rave.ohiolink.edu/etdc/view?acc_num=csu1354544027.
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Savka, Andriy. "TIMING OF UNCERTAINTY SHOCKS AND FIRMS' INVESTMENT DECISIONS: MIXED FREQUENCY ANALYSIS." Kent State University / OhioLINK, 2018. http://rave.ohiolink.edu/etdc/view?acc_num=kent1545007562487854.
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Xia, Yifei, and 夏怡斐. "The effect of the presentation format of bonus scheme on investors' judements and voting decisions." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2014. http://hdl.handle.net/10722/202352.
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Lee, Tung Jean. "Determinants and outcomes of foreign acquisitions : explaining and evaluating the investment decisions of multinational enterprises." Thesis, University of Oxford, 2002. http://ora.ox.ac.uk/objects/uuid:f1420ada-12ac-4784-8704-039cd0160ce2.
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This study investigates the causes and consequences of acquisitions primarily foreign acquisitions undertaken by UK publicly listed firms. Firm- and country-specific factors are found to influence the propensity to acquire and the location of the acquired subsidiary. Indicators of a firm's organisational experience, such as firm size, profitability, and its investment history, increase the probability that an acquisition (relative to no acquisition) is undertaken. Larger and more profitable firms are also more inclined to invest abroad (rather than at home), as are firms engaged in RandD activities. In choosing among foreign locations, an increase in country-specific uncertainty (proxied by exchange rate and stock market volatility) deters a firm from investing in that location. Likewise, at the firm level, uncertainty is found to discourage a firm from acquiring (relative to not acquiring), and to deter an acquirer from undertaking a foreign (relative to a domestic) acquisition. Based on changes in industry-adjusted profit levels, acquiring firms in general perform poorly after making large foreign acquisitions. However, examining profit variability reveals interestingly that firms more likely to experience a decline in profit levels are also more likely to enjoy a reduction in profit variability, and vice versa, which suggests that a risk-return tradeoff could be a consideration when acquisitions are undertaken. When acquisition performance is evaluated on the basis of a firm's share price response to its acquisition announcement, the event study shows no evidence of negative performance. Resolving this discrepancy between the two performance measures leads us to examine the reliability of the stock market as an indicator of acquisition outcomes. On the one hand the immediate stock market reaction has some ability to predict a firm's postacquisition performance, while on the other post-acquisition stock returns are shown to be not completely consistent with market efficiency.
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Lim, Seongyeon. "Essays in financial economics mental accounting and selling decisions of individual investors; analysts' reputational concerns and underreaction to public news /." Connect to this title online, 2004. http://rave.ohiolink.edu/etdc/view?acc%5Fnum=osu1058811557.
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Thesis (Ph. D.)--Ohio State University, 2004.Document formatted into pages; contains 106 p. Includes bibliographical references. Abstract available online via OhioLINK's ETD Center; full text release delayed at author's request until 2005 July 29.
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Lee, Boram. "Risk perceptions and financial decisions of individual investors." Thesis, University of Stirling, 2013. http://hdl.handle.net/1893/16951.
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Standard finance theory portrays investors as rational utility maximisers. Persisting market anomalies and observed investor practice, however, have led to widespread recognition that the fundamental axioms of rationality are often violated. In response to the limitations inherent in standard theory, the Behavioural Finance approach relaxes the rationality assumption and takes account of psychological influences on individuals’ decision-making processes. Adopting the behavioural approach, this thesis, which includes two empirical studies, examines why, and to what extent, investors depart from rational or optimal investment practices. The thesis examines the effect of Myopic Loss Aversion (MLA) suggested by Benartzi and Thaler (1995) as a response to the Equity Premium Puzzle highlighted by Mehra and Prescott (1985). While previous studies are almost exclusively based on experiments in a laboratory setting, this approach provides more compelling empirical evidence by investigating the effects of MLA on real individual investors’ portfolio allocations through the use of the Dutch National Bank Household Survey. For the first time, the concept of MLA is identified through the interaction of two separate effects, firstly, individuals’ myopia, reflected in portfolio evaluation and rebalancing frequencies, and secondly, loss aversion. The thesis finds that individuals who are less affected by MLA invest more in risky financial assets. Further, individuals who are less myopic increase their share of risky assets invested in their financial portfolios over time, although this is unrelated to their loss aversion. These findings support the prediction of MLA theory that short investment horizons and high loss aversion lead to a significantly lower share of risky investments. In summary, the high equity premium can be explained by the notion of MLA. If individuals evaluate their investment performance over the long-term, they perceive much smaller risks relative to stockholding returns; consequently, they will be prepared to accept smaller equity premiums. The findings suggest possible interventions by policy makers and investment advisors to encourage individuals to remain in the stock market, such as providing long-term investment instruments, or restricting evaluation frequency to the annual reporting of investment performance. In response to the stockholding puzzle (Haliassos and Bertaut, 1995), this thesis also investigates individuals’ stock market returns expectations and their varying levels of risk aversion. Previous studies find that individuals’ heterogeneous stock market expectations determine variations in their stockholdings. The thesis accounts for the effect of risk aversion on stock market expectations, as well as on stockholding decisions. Additionally, the causality issue as between individuals’ expectations and stockholding status is controlled. The thesis finds that more risk averse individuals hold lower stock market expectations, and that the stock market return expectations of more risk averse individuals affect their stock market participation decisions negatively. The portfolio allocation decisions of individuals who already hold stocks are only affected by their expectations, with risk aversion being no longer significant. The thesis argues that persistent risk aversion effects cause individuals to hold pessimistic views of stock market returns, thus contributing to the enduring stockholding puzzle. The thesis reinforces existing perceptions that individuals in the real world may not make fully rational decisions due to their judgments which are based on heuristics and affected by cognitive biases. Individual investors often fail to maximise their utility given their preferences and constraints. Consequently, this thesis draws attention to the possible role of institutions, policy makers, and financial advisory bodies in providing effective interventions and guidelines to improve individuals’ financial decisions.
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Onyeani, Onyema Awa. "The obligation of host states to accord the standard of 'full protection and security' to foreign investments under international investment law." Thesis, Brunel University, 2018. http://bura.brunel.ac.uk/handle/2438/16087.
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The analysis of this thesis is to examine whether foreign investors can fully rely on the standard of FPS in BITs for the protection of their investments in the territories of host States which has been mandated to States by international law. This question cannot be answered without giving insights into the content and structure of the origin of FPS standard and adopts a dynamic based-perspective of the interpretation of FPS under VCLT 1969, encompassing the relationship between FPS and CIL. It investigates the tribunals' interpretation of the clause using case laws and literatures to identify and explore the underlying explanatory process behind tribunals' case findings and outcomes. The study examines the critical realism that the obligation of FPS standard does not place absolute liability to a host State, rather the exercise of a reasonable degree of vigilance. It evaluates the controversy surrounding the relationships between FPS and FET, and illuminates on how the two standards may co-evolve which has led to various arbitral tribunals' divergence opinions interpretation of the two principles. The evaluation of the application of FPS to digital assets is dynamic in this research as it addresses the nature of threats investors face globally today over cyber attacks of digital investments. The thesis also emphasis on balancing up investors' rights and obligation, which explains the measures that States can apply to prevent foreign investors from engaging in illegitimate activities. Having look at all these issues, circumstances, and the controversies surrounding FPS standard, the result found is that there is a existence of a gap in this area of the law, that would mean that foreign investors cannot completely rely on the principle of FPS for the protection of their investments in the territories of the host unless this lacunae is properly filled by both the States and arbitral tribunals, especially the tribunals' interpretative meaning of the standard of FPS.
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Falshaw, James Richard. "Implementing strategic decisions : the implementation of capital investment projects in the U.K. manufacturing industry." Thesis, University of Bradford, 1991. http://hdl.handle.net/10454/4406.
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This thesis reports an exploratory, quantitative study into the implementation of strategic decisions. Implementation was viewed as a discontinuous organisational activity involving strategic change. The organisational vehicle of change is seen as "the project" and the specific unit of analysis adopted is the capital investment project. Manufacturing organisations were studied because these were shown to most frequently undertake such projects. Adopting a theoretical perspective derived from systems theory and cybernetics a model of implementation was developed which recognises two dimensions of implementation success (modes of organisational change) to be contingent upon a dimension of project uncertainty and two dimensions of information. From this model ten hypotheses were developed. Data on 45 projects was collected from a diversity of manufacturing companies. This was obtained using a structured questionnaire instrument administered to a single informant during a retrospective personal interview. Initially the data was analysed using principal components factor analysis to determine the factorial compositions and reliabilities of scales measuring theoretical constructs. Subsequently, causal modelling and stepwise regression techniques were employed to test the hypotheses. Analysis demonstrated that the essentially structural approach to implementation taken in the study adequately explained many of the observed associations between constructs. Hypothesised associations between organisational structure and implementation success could not, generally, be supported. Finally, the theoretical model adopted was not able to account for a number of empirically observed associations. These associations were explicable in terms of a behavioural or social dimension. The wider implications of the study are also discussed.
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Falshaw, James R. "Implementing strategic decisions. The implementation of capital investment projects in the U. K. manufacturing industry." Thesis, University of Bradford, 1991. http://hdl.handle.net/10454/4406.
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This thesis reports an exploratory, quantitative study into the
implementation of strategic. decisions. Implementation was viewed as a
discontinuous organisational activity involving strategic change. The
organisational vehicle of change is seen as "the project" and the
specific unit of analysis adopted is the capital investment project.
Manufacturing organisations were studied because these were shown to
most frequently undertake such projects. '
Adopting a theoretical perspective derived from systems theory
and cybernetics a model of implementation was developed which recognises
two dimensions of implementation success (modes of organisational
change) to be contingent upon a dimension of project uncertainty
and two dimensions of information. From this model ten hypotheses were
developed.
Data on 45 projects was collected from a diversity of manufacturing
companies. This was obtained using a structured questionnaire
instrument administered to a single informant during a retrospective
personal interview. Initially the data was analysed using principal
components factor analysis to determine the factorial compositions and
reliabilities of scales measuring theoretical constructs. Subsequently,
causal modelling and stepwise regression techniques were employed
to test the hypotheses.
Analysis demonstrated that the essentially structural approach
to implementation taken in the study adequately explained many of the
observed associations between constructs. Hypothesised associations
between organisational structure and implementation success could not,
generally, be supported. Finally, the theoretical model adopted was
not able to account for a number of empirically observed associations.
These associations were explicable in terms of a behavioural or social
dimension. The wider implications of the study are also discussed.Economic and Social Research Council
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Mehrmann, Annika, and Caren Sureth-Sloane. "Tax Loss Offset Restrictions and Biased Perception of Risky Investments." WU Vienna University of Economics and Business, Universität Wien, 2017. http://epub.wu.ac.at/5798/1/SSRN%2Did3046543.pdf.
Full textAbstract:
We investigate how tax loss offset restrictions affect an investor's evaluation of risky investments
under bounded rationality. We analytically identify behavioral tax effects for different levels
of loss offset restrictions, tax rate and prospect theoretical biases (loss aversion, probability
weighting and reference dependence) and find tax loss offset restrictions significantly bias investor
perception, even more heavily than the tax rate. If loss offset restrictions are rather generous, investors
are very loss averse or assign a huge weight to loss probabilities, taxation is likely to increase the
preference value of risky investments (behavioral tax paradox). Surprisingly, the identified significant
perception biases of tax loss offset restrictions occur under both high and low tax rates and thus are
relatively insensitive to tax rate changes. Finally, we identify huge differences in behavioral tax effects
across countries indicating that tax loss offset restrictions crucially determine the perceived tax
quality of a country for risky investments. Our analysis is relevant for policy makers discussing future
tax reforms as well as for investors assessing risky investment opportunities.Series: WU International Taxation Research Paper Series
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Салтикова, Ганна Василівна, Анна Васильевна Салтыкова, Hanna Vasylivna Saltykova, and М. В. Скобенко. "Оптимізаційний підхід до прийняття інвестиційних рішень." Thesis, Видавництво СумДУ, 2011. http://essuir.sumdu.edu.ua/handle/123456789/12454.
Full textAbstract:
У сучасних умовах при ухваленні інвестиційних рішень необхідно вміти адекватно оцінювати і швидко реагувати на зміни зовнішніх і внутрішніх умов господарювання.
В умовах структурної перебудови економіки України виключно велике значення має активізація інвестиційної діяльності. Результати фундаментальних досліджень українських і зарубіжних учених однозначно свідчать про те, що процеси економічного зростання пояснюються об'ємом і темпами зростання інвестицій, їх структурою та якісними характеристиками.
При цитуванні документа, використовуйте посилання http://essuir.sumdu.edu.ua/handle/123456789/12454
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Kalmertun, Frida, and Sofia Nork. "Miljöinvesteringsbeslut i privata och kommunala bostadsbolag." Thesis, KTH, Fastigheter och byggande, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-297786.
Full textAbstract:
I och med att bygg- och fastighetssektorn står för en betydande andel av Sveriges miljöpåverkan har aktörer inom branschen stora möjligheter att genom miljömässiga investeringar påverka fastigheternas klimatavtryck. Grundtanken är att investeringar genomförs om de är lönsamma men eftersom syftet med miljöinvesteringar även är att uppnå positiva miljöeffekter spelar mer än den ekonomiska aspekten roll. Privat verksamhet drivs i vinstsyfte och sedan lagen om allmännyttiga kommunala bostadsaktiebolag trädde i kraft 2011 ska även de allmännyttiga bostadsbolagen driva sin verksamhet enligt affärsmässiga principer för att inte sätta konkurrensen på marknaden ur spel. Affärsmässighet och samhällsansvar ska därmed kombineras. Syftet med studien är därmed att undersöka och få en fördjupad förståelse för vad miljöinvesteringar i fastigheter innebär samt vad som påverkar ett bostadsbolags miljöinvesteringsbeslut. Huvudfrågeställningen fokuserar på hur miljöinvesteringsbeslutet påverkas av att företaget är privat eller kommunalt. Vidare utreds även hur miljöinvesteringar skiljer sig från övriga investeringar i fastigheter när det gäller beslutsprocessen och bedömning samt vad som hade kunnat få fler miljöinvesteringar att genomföras. Studien är baserad på semistrukturerade intervjuer med tio respondenter från sju fastighetsbolag i Stockholmsområdet. Studien har visat att begreppet miljöinvesteringar i fastigheter ännu inte är helt definierat men främst handlar om åtgärder kopplat till energieffektivisering. Investeringsprocessen följer till största del samma process som övriga investeringar och samma beräkningsmetoder används men fler perspektiv tas in när det kommer till att ta beslutet. Avgörande faktorer för miljöinvesteringsbeslutet kan delas upp i kategorierna; lönsamhet och besparingar, företagets styrning, krav och mål, hyresgäster samt fastigheternas konstruktion. Ett bostadsbolags miljöinvesteringsbeslut påverkas av att företaget är privat eller kommunalt genom företagets styrning och syfte med verksamheten. I sin tur påverkar det synen på de avgörande faktorerna, främst i vilken grad lönsamhetskravet inte behöver uppnås och hyresgästernas inflytande på beslutet. Synen på miljökrav och en minskad miljöpåverkan påverkas inte av att företaget är privat eller kommunalt.Since the construction and real estate sector accounts for a significant part of Sweden’s environmental impact, actors in the industry have great opportunities to influence buildings’ climate footprint through environmental investments. The basic idea is that investments are made if they are profitable, but since the purpose of environmental investments also is to achieve positive environmental effects, more than only the economic aspect matters. The goal of private companies is to make profit and since 2011 the municipal housing companies in Sweden must act according to business principles as well in order to maintain competition in the market. Business and social responsibility must therefore be combined. The purpose of the study is to gain an understanding of what environmental investments in buildings are and to analyse what influences a housing company’s environmental investment decision. The main issue focuses on how the environmental investment decision is affected by the company being private or municipal. Furthermore, the study investigates how environmental investments differ from other investments in buildings in terms of the decision process and also what could have led to more environmental investments being implemented. The study is based on semi structured interviews with ten respondents from seven housing companies in the Stockholm area. The study has shown that the concept of environmental investments in buildings is not yet fully defined but mainly is about measures related to energy efficiency. Environmental investments follow the same process as other investments and the same calculation methods are used, but more perspectives are considered when it comes to the decision making. Decisive factors for the environmental investment decision can according to this study be divided into the categories; profitability and savings, the corporate governance, requirements and goals, tenants and the construction of the buildings. A housing company’s environmental investment decision is affected by the company being private or municipal through the company’s governance and purpose. This affects the view of the decisive factors, mainly to what extent profitability requirements do not need to be met and the tenants’ influence on the decision. The view of environmental requirements and reduced environmental impact is not affected by the company being private or municipal.
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Kisonzo, Sylvester Musyoki. "Information & Communications Technologies Investment Decisions and Organizational Performance in Major Nonprofits in Kenya." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/4302.
Full textAbstract:
The levels of organizational performance (OP) achievable from a dollar investment in information and communications technologies (ICT) remains elusive. A consensus exits among scholars and organizational leaders that effective use of ICT improves OP yet managers continue to struggle to justify investments in ICT. The purpose of this quantitative study was to explore and explain how investments in ICT related with OP. The study built on the resource-based view of the firm theoretical framework. A key question in the study was whether there existed a consistent, positive correlation between ICT investments, decision-making performance, and OP, and if so, explain the interdependence among the predictor and outcome variables. The sampling frame for the research was the major nonprofit organizations in Kenya. Data were collected using a tested and validated measurement instrument, and analyzed using SPSS software. Correlation, analysis of variance, and multiple regression analyses were used for data analysis and interpretation. Results revealed that not all investments in ICT correlate positively with OP. In fact, investments in some ICT systems did not correlate at all with OP. This study has implications for positive social change, it facilitates informed decision making that saves resources and thus improves social good. The study is expected to contribute to the body of knowledge on the effect of investments in ICT on the effectiveness of decision making and OP.
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Cameron, Stuart. "Great hopes, good jobs, affordable investments, and becoming a real person : education decisions of the urban poor in Dhaka, Bangladesh." Thesis, University of Sussex, 2013. http://sro.sussex.ac.uk/id/eprint/45276/.
Full textAbstract:
Urban poverty is rising as economic development is accompanied by rural-urban migration and the majority of the world's population becomes urbanised. Policymakers and researchers are only now coming to grips with the implications for education. Educational deprivation still tends to be seen as a primarily rural problem, especially in a historically rural economy such as Bangladesh's. Little is known about educational access and outcomes for the urban poor, what resources they need to use to get children admitted to school and keep them there, and what benefits they can expect to get in return. This thesis examines how poor households living in slums of Dhaka city, Bangladesh, make decisions about their children's education. In particular it asks what aspects of education are valued by parents and children; what the costs of education are; and how these costs and valued outcomes combine to influence the decisions that parents and children make with regard to school. The study is based on a survey of 1599 households and in-depth interviews with 34. Quantitative methods are used to examine associations of different household and individual characteristics with educational outcomes, and qualitative methods to explain the underlying processes. The data show that the slum environment is far from being an easy one to live in, and most households live below the poverty line. They face high rents and food prices, are time-pressed, and have limited support from friends and relatives. Households had to draw on their resources to cover the costs of school, support their children's learning, and manage the relationship with the school. Direct financial costs of education were substantial compared to income. More than half of children in primary school took private tuition, despite the low incomes of their parents. There were also important opportunity costs. Children could work instead of going to school, especially at older ages. Parents and children valued a range of aspects of education. They aspired to professional or formal-sector employment and saw education as key to this, but were ambivalent about whether a small amount of primary education would bring substantial benefits. School education was enjoyed in its own right and also seen as the way that one ‘becomes a real person,' respected in the community and by a future spouse, with correct moral and social behaviours. It was seen as useful, if not strictly necessary, for a girl to marry and fulfil her expected future role as a wife and mother. Households had to balance these valued benefits of education against the resources they needed to use for it, and the resulting decisions – to enrol in school, to stay in or drop out, to spend more, and to go to a government, non-government organisation, or private school – were strongly influenced by the wealth, location, social connections, and education of the parents. Children from wealthier households tended to stay in school longer, but location was also important, probably reflecting the different availability of schools in different slums. Drop-out decisions were sometimes made by children themselves, especially for boys. The thesis concludes by summarizing the findings, reflecting on the conceptual model used, and putting forward policy implications. It argues that the framework based on a mixture of livelihoods and human capital theory is broadly a useful one for considering education decisions. Among the priority areas for education policy for the urban poor, it highlights the lack of government provision of school places, problems caused by evictions and uncertain legal status of slum dwellers, poor coordination between government and non-government organizations, and the inequitable effects of widespread private tuition.
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Mahnovski, Sergej. "Robust decisions and deep uncertainty an application of real options to public and private investment in hydrogen and fuel cell technologies /." Santa Monica, CA : RAND, 2007. http://www.rand.org/pubs/rgsd_issertations/RGSD210/.
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Harris, Stanley E. "Investment decisions in a changing South Africa from 1990 to 1999 (transition) : analysis of the decade of the 1990s." Thesis, Stellenbosch : Stellenbosch University, 2003. http://hdl.handle.net/10019.1/53476.
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Thesis (MPhil)--Stellenbosch University, 2003.ENGLISH ABSTRACT: This study is an investment performance review covering the ten years from 1990 to 1999. To many investors the 1990s were a tough decade because of the political, economic and social changes, which caused investment uncertainty. The primary focus is to examine the implications of these changes during the 1990s on the investment strategies of South Africans. Furthermore, the aim is to provide insight into investment decision-making during the period of transition and transformation. The analyses specifically address the importance of the investment environment on portfolio construction and maintenance. The objective is to see how far the investors ventured in their efforts to 'beat" the South African share market under changing conditions. The structure of the portfolio was evaluated as well as the investor's preferences and beliefs during the period under review. It also looked at the investors' attitudes and philosophies. Effective portfolio management was important because changing conditions were becoming challenging. The investor's investment mix and the risk associated with each investment determined the effectiveness of managing the portfolio. Furthermore, this study examines the investors' objectives, constraints and strategies. In the final analysis, this study examines investment strategy and investment performance in retrospect. It presents a ten-year historical analysis of the South African environment which was affecting investment decisions. It was also found that investors were fulfilling their expectations, they were looking at medium and long-term investment opportunities. Furthermore, stock-picking was done with greater caution. The opening of global investment markets further enhanced the investment opportunities. Moreover the investors realised the importance of diversification in order to reduce risk. The investors will be presented with challenges and opportunities in the next decade (or century). Therefore this study also concludes with an assessment of possible future investment scenarios for the South African investors. Finally, investment decision was interpreted against the political, economical, social and other changes that took place during the period of transition. The key to investment success was the investor's ability to manage the changing South African environment.
AFRIKAANSE OPSOMMING: Hierdie studie is 'n oorsig van die beleggingsvaardighede gedurende die tydperk 1990 tot 1999. Vir baie beleggers was die negentigs 'n baie moeilike dekade as gevolg van die politieke, ekonomiese en sosiale veranderings. Hierdie veranderings het onsekerheid laat ontstaan by die beleggers. Die primêre fokus is om die implikasies van die veranderings op die beleggingsstrategieë van die Suid Afrikaanse belegger te ondersoek. Verder, is die doelook om insig te bekom oor die beleggingsbesluitneming gedurende die periode van verandering en transformasie. Hierdie analise salook in besonder aandag gee aan die belangrikheid van die gepaardgaande beleggingsomgewing en op die konstruksie en instandhouding van die beleggingsportefeulje. Die doel is om ook vas te stel hoe die beleggers gespekuleer het om die Suid Afrikaanse aandele mark te klop gedurende die periode van verandering. Die samestelling van die portefeulje is ge-evalueer sowel as die beleggers se voorkeure en menings. Daar is ook ondersoek ingestel na die belegger se houding en filosofie. Effektiewe beleggingsbestuur was belangrik gedurende die tydperk omdat die veranderde omstandighede uitdagend geword het. Die belegger se beleggingssamestelling en die gepaardgaande risiko het die doeltreffendheid van die bestuur van die portefeulje bepaal. Verder ondersoek hierdie studie ook die beleggers se doelwitte, beperkinge en strategieë. In die finale analise is dit hoofsaaklik 'n retrospektiewe ontleding van beleggingbestuursvaardighede gedurende die 1990s. Dit is n tienjaar historiese analise van die Suid Afrikaanse beleggingsomgewing wat 'n invloed gehad het op die beleggingsbesluitnemings. Die beleggers het hul verwagtings goed hanteer en het gesoek na medium- en langtermyn beleggingsmoontlikhede. Bowendien is die beleggings gedoen met groter omsigtigheid. Die opening van die wêreld markte het ook groter beleggingsmoontlikhede geskep. Verder het die beleggers ook besef dat diversifikasie belangrik is om risiko te verminder. Beleggers sal te staan kom voor uitdagings sovel as gunstige beleggingsmoontlikhede in die volgende dekade (of eeu). Daarom sluit hierdie studie af met toekomstige beleggingsmoontlikhede en die faktore wat sal bydra tot die toekomstige beleggingsaksie en besluitneming. Ten slotte, die beleggingsbesluit is geïnterpreteer teen die politieke, ekonomiese en sosiale veranderinge wat plaasgevind het. Die sleutel tot die beleggingssukses was die vermoë van die beleggers om die veranderde omstandighede te kan hanteer.
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Van, Deventer Albertus Gert. "Factors influencing venture capitalist's project financing decisions in South Africa." Thesis, Stellenbosch : Stellenbosch University, 2008. http://hdl.handle.net/10019.1/795.
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Thesis (MBA (Business Management))--Stellenbosch University, 2008.ENGLISH ABSTRACT: Venture capital is a major source of funding for the entrepreneurial community and usually focuses on the early stage, more risk orientated business endeavours. This study explores and identifies the investment criteria used by South African venture capitalists in their venture screening and evaluation process and compares these criteria with the results obtained in similar studies abroad. By identifying the criteria that are deemed as important, venture capitalists can enhance their decision-making process and entrepreneurs can adjust their preparation for venture capital application to maximise their success rate. By alerting entrepreneurs of these criteria, some potentially flawed proposals can be corrected beforehand, hence enhancing the venture capital process for both the venture capitalist and the entrepreneur. By making use of a questionnaire, data was gathered from a population of 16 identified South African venture capitalists, of which 75% replied. The most important criteria was identified by evaluating the mean ratings assigned to them and was found to be, the entrepreneurs honesty and integrity, a good expected market acceptance and a high IRR. The data was further analysed using the Friedman two-way analysis of variance (ANOVA) by ranks test, the Sign test and factor analysis. It was found that the South African venture capitalists, just like their overseas counterparts, rate the entrepreneur and management team, as the most important category of criteria when evaluating new projects for investment. In addition, two lists of factors were identified by using factor analysis to reduce the criteria obtained from the questionnaire.
AFRIKAANSE OPSOMMING: Waagkapitaal is een van die belangrikste bronne van befondsing waarvan entrepreneurs gebruik kan maak. Dit fokus hoofsaaklik op besighede in 'n vroeë besigheid lewensiklus, waar hoër risiko aan die orde van die dag is. Hierdie studie identifiseer en analiseer die beleggings maatstawwe wat gebruik word vir waagkapitaal belegging besluitneming in Suid-Afrika en vergelyk die resultate met soortgelyke studies wat reeds in die buiteland uitgevoer is. Die besluitnemingsproses vir die waagkapitalis kan ook vergemaklik word deur die identifisering van die mees belangrikste maatstawwe en terselfdertyd kan entrepreneurs dit ook gebruik vir beter voorbereiding in hul aansoek om waagkapitaal. Deur entrepreneurs se aandag op die belangrike faktore te vestig kan potensiële swak voorleggings vroegtydig gekorrigeer word, wat 'n positiewe bydrae sal lewer tot die beleggingsproses vir beide die waagkapitalis en die entrepreneur. Daar is gebruik gemaak van 'n vraelys wat gestuur is aan 16 Suid-Afrikaanse waagkapitaal beleggers, 75% het die vraelys voltooi. Deur vergelyking van die gemiddelde waardes is vasgestel dat die belangrikste maatstawwe die entrepreneur se eerlikheid en integriteit, goeie verwagte aanvaarding en aanvraag na die produk en 'n hoë “IRR” is, daarna is die data geanaliseer deur middel van die “Friedman two-way analysis of variance (ANOVA) by ranks test”, die ”Sign test” en “factor analysis”. Daar is bevind dat die Suid-Afrikaanse waagkapitalis net soos sy oorsese eweknie, die entrepreneur en bestuurspan as die mees belangrikste afdeling van maatstawwe ag wanneer gekyk word na nuwe projekte vir beleggings. Daar is ook twee addisionele lyste van belangrike maatstawwe opgestel deur die aantal faktore te verminder deur faktor analise.
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Petitet, Marie. "Long-term dynamics of investment decisions in electricity markets with variable renewables development and adequacy objectives." Thesis, Paris Sciences et Lettres (ComUE), 2016. http://www.theses.fr/2016PSLED032/document.
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Les marchés électriques libéralisés sont supposés assurer la coordination de long terme des investissements afin de garantir sécurité d’approvisionnement, viabilité et compétitivité. Dans le modèle de référence energy-only, la formation des prix par alignement sur le coût variable de l’équipement marginal sur les marchés horaires successifs fournit un signal prix pour les investisseurs. Cependant, en pratique, ce modèle est remis en question quant à sa capacité à déclencher des investissements dans les technologies bas-carbone et en particulier les énergies renouvelables (EnR) et quant à sa capacité à garantir la sécurité d’approvisionnement. Cette thèse cherche d’abord à caractériser ces deux défaillances de marché puis s’intéresse à différentes solutions pour faire face à chacune d’entre elles. Pour cela, la réflexion s’appuie sur un modèle en System Dynamics développé afin de simuler les investissements dans les marchés électriques.D’une part, les résultats montrent que le remplacement des mécanismes de support hors marché par des investissements par le marché avec l’aide d’un prix du carbone apparait comme une solution pour déclencher le développement des EnR à condition d'un engagement politique fort en faveur d’un prix du carbone élevé. D’autre part, il apparait aussi que le marché energy-only avec des prix plafonnés ne parvient pas à assurer l’adéquation de capacité. L’ajout d’un marché de capacité ou la suppression du plafond de prix permettent une amélioration en termes de nombre d’heure de délestage et de bien-être collectif. De plus, le marché de capacité apparaît comme le meilleur choix pour le régulateur parmi les architectures de marché considéréesIn liberalised electricity systems, power markets are expected to ensure the long-term coordination of investments in order to guarantee security of supply, sustainability and competitiveness. In the reference energy-only market, it relies on the ability of power markets — where the hourly price is aligned with the marginal cost of the system — to provide an adequate price-signal for investors. However, in practice, questions have been raised about its ability to trigger investments in low-carbon technologies including in particular Renewable Energy Sources of Electricity (RES-E), and its ability to ensure capacity adequacy. After a characterisation of these market failures, this dissertation tackles the two research topics within a methodological framework based on a System Dynamics model developed to simulate private investment decisions in power markets.First, the results show that substituting out-of-market support mechanisms for RES-E by market-based investments helped by the sole implementation of a carbon price appears as a feasible solution to trigger RES-E development providing that there is a political commitment on a high carbon price. Second, it also appears that the energy-only market with price cap is ineffective to ensure capacity adequacy. Adding a capacity market or removing the price cap both bring benefits in terms of loss of load expectation and social welfare. Moreover, the capacity market is identified as the best option for regulators among the considered market designs
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Kocourek, Tomáš. "Ekonomické zhodnocení investičního záměru." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2014. http://www.nusl.cz/ntk/nusl-224401.
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This master´s thesis deals with evaluation of an investment plan of technological company KOVOLIT a.s., that considers replacement of currently used handling equipment in it´s operations. Feasibility of the investment is evaluated by using chosen tools for evaluating of investment effectiveness in order to decide whether the investment is suitable for the company.
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Schilke, Matthis Niklas. "Exploring financial decisions in Swedish commercial real estate : How the question of added flexibility in the real estate product is handled in practice." Thesis, KTH, Fastigheter och byggande, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-276772.
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This thesis explores how the question of added flexibility in the real estate product is handled by Swedish commercial real estate developers. Theoretically this problem can be solved with a real options approach. Traditionally the use of real options analysis in practice in commercial real estate has been limited. The results indicate that the use of real options analysis is limited also in the Swedish commercial real estate market. Traditional investment methods coupled with rules of thumb that determine appropriate flexibility levels continue to dominate. The results highlight some of these rules of thumb. The commercial developers do argue in favor of flexible designs in locations where there is higher uncertainty, this result is in line with real options theory. Future research is needed to assess how effective this rule of thumb approach is to determining the appropriate level of flexibility in a real estate product compared to a real options approach.Detta examensarbete utforskar hur kommersiella fastighetsägare hanterar vilken nivå av flexibilitet som byggs in i nya projekt och hur man tar beslut kring nivån utifrån ett investeringsperspektiv. Teoretiskt sätt så kan detta problem lösas med real optionsanalys. Historiskt sett har real optionsanalys inte använts särskilt utbrett i den kommersiella fastighetsbranschen. Resultatet indikerar på att användningen av real optionsanalys på den svenska kommersiella fastighetsmarknaden är fortsatt låg. Traditionella investeringsmetoder kombinerat med tumregler som bestämmer graden av flexibilitet verkar dominera. Resultatet belyser några av dessa tumregler. De kommersiella fastighetsaktörerna resonerar kring flexibilitet och osäkerhet på ett sätt som är i linje med real optionsteori. Vidare forskning behövs för att bedöma hur väl tumregel-förfarandet i förhållande till real optionsanalys fungerar när man ska bestämma graden av flexibilitet.
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Neramo, Sofia, and Caroline Fredriksson. "Designbyråers investeringsbeslut i Stockholm : En komparativ studie om designbyråers investeringsbeslut i jämförelse med den finansiella teorin." Thesis, Södertörns högskola, Institutionen för samhällsvetenskaper, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-30441.
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Syfte: Syftet med studien var att undersöka investeringsbeslut inom designbranschen och skapa en större förståelse kring investeringsbesluten i designbyråer samt uppmärksamma designbyråer att investeringar kunde vara en konkurrenskraft. Teoretisk referensram: Studien behandlade olika investeringstyper, Porters fem konkurrenskrafter, risk, osäkerhet och lönsamhet. I uppsatsen användes också sju tidigare forskningar kring dessa områden samt forskning inom SME-företag, investeringsbeslut samt hur känslor påverkade vid beslutsfattande av investeringar. Metod: I uppsatsen har en deduktiv forskningsansats brukats. Studien genomfördes med en kvalitativ forskningsmetod i form av intervjuer med tio designbyråer. Kraven för designbyråerna var att de skulle ha olika arbetsområden i Stockholms innerstad samt att de skulle innefatta minst fyra anställda. Ytterligare ett krav var att de skulle ha välkända kunder. Intervjuerna genomfördes personligen, per telefon samt via mail. I studien tillämpades en komparativ metod för att kunna jämföra likheter och skillnader mellan designbyråerna samt finna kopplingar mellan designbyråers investeringar och beslutsfattandet kring dem. Resultat: Studien resulterade i att investeringar i personal samt kompetens var den största samt viktigaste investeringen då åtta av tio designbyråer nämnde det. Sex designbyråer gjorde investeringar i lokal och kontor och fyra designbyråer utförde expansionsinvesteringar. Tre av tio designbyråer använde sig av exempelvis kalkyler eller return on investment vid investeringsbeslut. För sex av designbyråerna spelade känslor in vid beslut av en investering. Åtta av dem ansåg att en investering var lönsam när intäkten översteg kostnaden för investeringen. Sju av designbyråerna såg investeringar som en risk men främst som en möjlighet. Slutsats: Designbyråer i Stockholm gjorde investeringar i främst personal, lokal, resor, expansion och datorer för att generera värde vilket också gjorde investeringen lyckad. Strategiska planeringen bestod främst av budgetering samt ett fåtal designbyråer utförde kalkyler. Det som var avgörande vid beslutsfattande var ekonomiska och emotionella värden. En investering sågs som lönsam när intäkten översteg kostnaden. Designbyråer såg investeringar främst som möjligheter men som behövde vägas gentemot risken. Jämfört med den finansiella teorin och designbyråers syn på investeringar skiljde sig inte speciellt mycket men hur besluten fattades skiljde sig markant.Purpose: The purpose of this paper was to examine investment decisions in the design industry to provide greater comprehension on investment decisions in the design agencies and to notice design agencies that investments were a competititiveness. Theoretical framework:The paper examined different types of investments, Porter’s five forces, risk, uncertainty and profitability. The paper also applied seven previous researches on these areas and also researches in SME, investment decisions and how feelings affected investment decisions. Methodology: A deductive research approach has been used in this paper. The study was conducted by a qualitative research method which included interviews with ten design agencies. The requirements for the design agencies included different work areas in Stockholm inner city and the design agency had to have at least four employees. Another requirement was that they had to have wellknown customers. There were face-to-face interviews, interviews by e-mail and telephone. The study was made by a comparative method to make comparisions between design agencies to find similarities, differences and connections between investments which design agencies made and eventually the decision making. Results: The results of the study demonstrated that investment in employees and competence was the greatest investment according to eight of ten design agencies. Six of the design agencies invested in premises and offices and four of ten made investments in expansion. Three of ten design agencies used calculations or return on investment while making investment decisions. It was found that six of ten design agencies included feelings in making investment decisions. Eight of ten considered that an investment was profitable when revenue exceeded the cost of the investment. Seven of the design agencies considered investments as a risk but mainly as an opportunity. Conclusion: Design agencies in Stockholm invested mainly in employees and even in offices, business trips, expansion and computers to generate value which also lead to a successful investment. Strategic planning mainly consisted of budgeting as well as a few design agencies performed calculus. Economic and emotional values were a decisive factor in investment decisions. An investment was considered as profitable when revenue exceeded the cost. Design agencies primarly considered investments as opportunities but they needed to be in balance with the risks. The design agencies’ view of investments compared to the financial theory did not differ very much but how the decisions were made differed significantly.
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Loo, Steve C. K. (Chung Keung Steve) Carleton University Dissertation Management Studies. "An examination of the decision making process in AMT investment decisions." Ottawa, 1987.
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Funk, Karel. "Hodnocení investičního záměru firmy ZNOJEMSKÉ STROJÍRNY, s.r.o." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2012. http://www.nusl.cz/ntk/nusl-223328.
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This master’s thesis deals with the assessing the efficiency of investment project of company ZNOJEMSKÉ STROJÍRNY, s.r.o. This engineering company is currently carrying out the modernization of production workshops and service operations in order to increase the company's competitiveness on the international level. As part of this modernization, the company decided to invest in new production equipment. Using selected procedures and methods for assessing the economic efficiency of investments is examined whether the investment is beneficial for the company.
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Rasmussen, Josefine. "The Investment Process for Capital Investments : The case of industrial energy-efficiency investments and non-energy benefits." Licentiate thesis, Linköpings universitet, Företagsekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-126367.
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Capital investments play a crucial role for the business of every firm. In an industrial context, energy efficiency is an important means to meet future energy needs and in the same time reduce climate impact. In this thesis, the investment process for capital investments is therefore studied by addressing the case of industrial capital investments improving energy efficiency. The thesis specifically aims to illuminate how additional benefits, i.e. non-energy benefits, are and can be acknowledged in the investment process by applying an ex-ante perspective. The thesis holds the decision-making process as unit of analysis and aims to contribute with insights on firm level. Especially in an energy-efficiency context, such a process perspective has only been scarcely applied. The thesis is based on a literature review and two empirical studies. The literature review is the starting point of the thesis and reviews the literature on benefit concepts and investment behaviour of energy-efficiency investments. It is then followed by an explorative study in which thirteen industrial Swedish firms are interviewed on how they consider non-energy benefits. Investment motives and critical aspects for adopting energy-efficiency investments are also addressed. It also includes a questionnaire, distributed and collected during a networking event for energy-intensive firms within Swedish manufacturing industry. The second empirical study is a case study conducted at a Swedish pulp and paper firm. It aims to take a comprehensive perspective on the investment process as well as to analyse how and when non-energy benefits are acknowledged in the investment process. This case study approach enables participants at different levels in the organisation to be engaged in the study and new perspectives to be addressed. The results indicate a general investment process passing through the phases identification, development and selection. Investment motives, information, internal coordination and external actors appear as key aspects of the investment process. Energy-efficiency investments are primarily initiated due to cost-savings motives. However, the subsequent investment process appears as consistent for all investment categories; the investment process described here is thus not specific for energy-efficiency investments only. The results instead indicate an investment process influenced by investment size; it influences the extent to which information is collected and assessed before making the decision, i.e. level of procedural rationality, as well as how the investment project is coordinated within the firm. Last, suppliers are involved in the investment process to a large extent from an early stage. Regarding non-energy benefits, the results indicate that various benefits have been observed but far from all are acknowledged in the investment process. They are to a larger extent acknowledged for larger investments when more resources are devoted to the investment process. Quantifiable non-energy benefits improve the business case for energy-efficiency investments and non-energy benefits should thus be quantified to the extent possible. Yet, nonenergy benefits characterised by a lower level of quantifiability could still be important, such as benefits related to work environment, and should therefore be considered. However, the findings indicate a frequent use and reliance upon an investment manual, implicating a need for simplicity when addressing the additional benefits. This indicates that there should be an emphasis on a limited number of main benefits, rather than seeking to acknowledge all possible benefits.
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Bidewell, John. "Decision making in personal investment /." Connect to full text, 2003. http://setis.library.usyd.edu.au/adt/public_html/adt-NU/public/adt-NU20031219.140243/index.html.
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Bidewell, John W. "Decision making in personal investment." Connect to full text, 2003. http://hdl.handle.net/2123/517.
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Thesis (Ph. D.)--University of Sydney, 2003.Title from title screen (viewed Apr. 29, 2008). Submitted in fulfilment of the requirements for the degree of Doctor of Philosophy to the School of Psychology, Faculty of Science. Includes bibliography. Also available in print form.
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Qaradaghi, Mohammed. "Investigation of Multi-Criteria Decision Consistency| A Triplex Approach to Optimal Oilfield Portfolio Investment Decisions." Thesis, The George Washington University, 2016. http://pqdtopen.proquest.com/#viewpdf?dispub=10141465.
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Complexity of the capital intensive oil and gas portfolio investments is continuously growing. It is manifested in the constant increase in the type, number and degree of risks and uncertainties, which consequently lead to more challenging decision making problems. A typical complex decision making problem in petroleum exploration and production (E&P) is the selection and prioritization of oilfields/projects in a portfolio investment. Prioritizing oilfields maybe required for different purposes, including the achievement of a targeted production and allocation of limited available development resources. These resources cannot be distributed evenly nor can they be allocated based on the oilfield size or production capacity alone since various other factors need to be considered simultaneously. These factors may include subsurface complexity, size of reservoir, plateau production and needed infrastructure in addition to other issues of strategic concern, such as socio-economic, environmental and fiscal policies, particularly when the decision making involves governments or national oil companies. Therefore, it would be imperative to employ decision aiding tools that not only address these factors, but also incorporate the decision makers’ preferences clearly and accurately. However, the tools commonly used in project portfolio selection and optimization, including intuitive approaches, vary in their focus and strength in addressing the different criteria involved in such decision problems. They are also disadvantaged by a number of drawbacks, which may include lacking the capacity to address multiple and interrelated criteria, uncertainty and risk, project relationship with regard to value contribution and optimum resource utilization, non-monetary attributes, decision maker’s knowledge and expertise, in addition to varying levels of ease of use and other practical and theoretical drawbacks. These drawbacks have motivated researchers to investigate other tools and techniques that can provide more flexibility and inclusiveness in the decision making process, such as Multi-Criteria Decision Making (MCDM) methods. However, it can be observed that the MCDM literature: 1) is primarily focused on suggesting certain MCDM techniques to specific problems without providing sufficient evidence for their selection, 2) is inadequate in addressing MCDM in E&P portfolio selection and prioritization compared with other fields, and 3) does not address prioritizing brownfields (i.e., developed oilfields). This research study aims at addressing the above drawbacks through combining three MCDM methods (i.e., AHP, PROMETHEE and TOPSIS) into a single decision making tool that can support optimal oilfield portfolio investment decisions by helping determine the share of each oilfield of the total development resources allocated. Selecting these methods is reinforced by a pre-deployment and post-deployment validation framework. In addition, this study proposes a two-dimensional consistency test to verify the output coherence or prioritization stability of the MCDM methods in comparison with an intuitive approach. Nine scenarios representing all possible outcomes of the internal and external consistency tests are further proposed to reach a conclusion. The methodology is applied to a case study of six major oilfields in Iraq to generate percentage shares of each oilfield of a total production target that is in line with Iraq’s aspiration to increase oil production. However, the methodology is intended to be applicable to other E&P portfolio investment prioritization scenarios by taking the specific contextual characteristics into consideration.
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Ackehed, Ida, and Olsson Elias Molin. "Styrande faktorer och aktiemarknadens påverkan på finansiering inom IT-branschen." Thesis, Södertörns högskola, Företagsekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-35462.
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The purpose of this study has been to examine the possible relationship between patterns on the stock market and the capital structure of IT-companies. Furthermore, the study attempts to contribute a deeper understanding of the ways Chief Financial Officers (CFO) and Chief Executive Officers (CEO) handle aspects pertaining to levels of debt, solidity, the market when making investment decisions and factors that influence a company´s value. This has been done using the Market Timing Hypothesis as the main theoretical frame of reference. The study has primarily been conducted using quantitative data analysis in the form of multiple regression. Qualitative interviews have been subsequently conducted with the purpose of enhancing the statistical findings. The results from the study indicate that financial decisions largely vary depending on the situation, albeit market value being an influencing factor. Moreover, the profitability of the company and the amount of fixed assets play a role in financial decisions. The respondents further noted that the amount of equity and debt of the company does affect its value.Studiens syfte var att undersöka sambandet mellan aktiemarknadens fluktuationer och företag i IT-branschens val av kapitalstruktur. Även att söka en djupare förståelse genom att ta del av Chief Financial Officers (CFO) och Chief Executive Officers (CEO) perspektiv på skuldsättningsgrad, soliditet, aktiemarknadens rörelser vid kapitalplacering samt vad som påverkar ett företags värde. Detta har skett med Market timing hypotesen som teoretisk utgångspunkt. Den huvudsakliga undersökningsmetoden har bestått av en kvantitativ dataanalys i form av multipel regressionsanalys. Kvalitativa intervjuer har därefter utförts i syfte att komplettera datan och för att förtydliga hur dessa aspekter hanteras i den praktiska verkligheten. Resultaten från studien indikerar att finansieringsbeslut är högst situationsbetingade men att marknadsvärdet har en viss påverkan. Utöver detta visade sig lönsamhet och andel anläggningstillgångar i förhållande till totala tillgångar väga tungt. De respondenter som intervjuades menade även att mängden eget kapital och skuld ett företaget besitter påverkar dess värde.
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Santos-Pinto, Luís. "Positive self image and asymmetries in information processing : existence and implications for economic analysis /." Diss., Connect to a 24 p. preview or request complete full text in PDF format. Access restricted to UC campuses, 2004. http://wwwlib.umi.com/cr/ucsd/fullcit?p3130207.
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Khanin, Dmitry M. "Venture capitalists' investment and reinvestment decisions." College Park, Md. : University of Maryland, 2006. http://hdl.handle.net/1903/3858.
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Thesis (Ph. D.) -- University of Maryland, College Park, 2006.Thesis research directed by: Business and Management. Title from t.p. of PDF. Includes bibliographical references. Published by UMI Dissertation Services, Ann Arbor, Mich. Also available in paper.
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Morgan, Eleanor J. "Mergers, investment decisions and government policy." Thesis, University of Bath, 2004. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.405148.
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Johnson, Timothy Charles. "The optimal timing of investment decisions." Thesis, King's College London (University of London), 2006. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.440467.
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Морозова, Ірина Анатоліївна, Ирина Анатольевна Морозова, Iryna Anatoliivna Morozova, and S. S. Marochko. "Health, safety, environment and investment decisions." Thesis, Видавництво СумДУ, 2011. http://essuir.sumdu.edu.ua/handle/123456789/13367.
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