scholarly journals AN ENHANCED TECHNO-ECONOMIC ANALYSIS OF LCOE: PUBLIC INCENTIVES VS PRIVATE INVESTMENT

2020 ◽  
Vol 0 (0) ◽  
pp. 1-23
Author(s):  
Rogelio Peón Menéndez ◽  
Alejandro Parra Martín ◽  
Laura Varela-Candamio ◽  
María-Teresa García-Álvarez
Keyword(s):  
Investment Decision ◽  
Private Investment ◽  
Scientific Basis ◽  
Electricity Production ◽  
New Approach ◽  
Investment Decision Making ◽  
Cost Of Energy ◽  
Technological Developments ◽  
Dominant Market Position

This paper offers a new approach for the estimation of levelized cost of energy (LCOE) by considering the shareholder internal rate of return (IRR) as an unexplored measure in this kind of analysis. The study relies on a comprehensive techno-economic evaluation based on interactions among a set of factors. This mathematical model is then empirically tested for a CSP power plant in Extremadura (Spain) due to their dominant market position and also for being the most developed renewable system at the present. A sensitivity analysis is also performed to establish the influence that market conditions have on the determination of LCOE for different scenarios under the maintenance of a given shareholder IRR for investors. This last assumption makes investment decisions indifferent among several projects in order to focus solely on the minimization of the LCOE. Results reveal that while the annual net electricity production contributes to the reduction of LCOE, total investments, equity percentage and operation and maintenance (O&M) costs help to increase their value by a high percentage. This study gives important scientific basis for investment decision making and also becomes a standpoint to design suitable public incentives that may enhance future technological developments in the CSP generation industry.

scholarly journals Using Piotroski F-Score for Assessing Financial Health: Evidence from Leading Indian Private Banks

2021 ◽  
Vol 8 (S1-Feb) ◽  
pp. 117-132
Author(s):  
S Rangapriya ◽  
J Meenakumari
Keyword(s):  
Financial Distress ◽  
Investment Decision ◽  
Relative Strength ◽  
Valuable Insight ◽  
Financial Health ◽  
Investment Decision Making ◽  
Financial Strength ◽  
Private Banks ◽  
Level Analysis

This research investigates the efficacy of Piotroski F-score to screen firms with good financial health and to identify early signs of financial distress in Indian banking stocks. This study complements existing empirical evidence which indicate that the venerable model can provide valuable insight for investment decision making and risk management.The evidence is drawn from valuation signals across leading private banks in India for a period ranging from 2014-2020. Piotroski F-score evaluates companies with a discrete number between zero and nine, the score facilitates determination of financial strength of the company. Higher score indicates better financial health and viceversa. The F-score is calculated as a sum of criteria which evaluates profitability signals, leverage and liquidity, sources of funds and operating efficiencies. In this study, each of these ratios have been analyzed to gain valuable insight on the banks (company-level). Analysis of Variance (ANOVA) of various ratios, ascertains intensity of relationship across banks (industry-level). This can help manage exposure in the portfolio as per the economic environment.The Piotroski F-score evaluates the generic financial health of the firm and indicates the direction in which the firm is headed. By studying individual factors, relative strength can be assessed. Piotroski F-score ranged between 0-7 for all the banks under study, indicating that none of them were a ‘compellingbuy’ (score 8 or 9) over the seven-year horizon. Some banks have consistently shown depleting F-score over at least 3 years, this can be interpreted as a signal of financial distress. It is evident that consistent monitoring of F-score empowers pro-active risk management.This work attempts to introduce Piotroski F-score as an integral valuation metric in evaluating Indian banking stocks. F-score can be used for initial screening, it’s consistent monitoring can facilitate optimized returns at risk-adjusted levels.

Improving the Financial Performance of Concentrating Solar Thermal Power

2014 ◽  
Author(s):  
Andrew C. Beath ◽  
Brian Webby ◽  
Mehdi Aghaei Meybodi
Keyword(s):  
Cost Reduction ◽  
Financial Analysis ◽  
Negative Impact ◽  
Investment Decision ◽  
Thermal Power ◽  
Solar Thermal ◽  
Electricity Production ◽  
Cost Estimates ◽  
Electricity Cost ◽  
Investment Decision Making

Commercial-scale implementation of concentrating solar thermal (CST) technologies for electricity generation has been increasing worldwide, but technology assessments produced by engineering consultancies typically indicate that electricity production using CST is more expensive than most other renewable energy technologies. A review of a selection of costing studies that have been prepared in recent years for Australian government and industry bodies suggests that electricity cost estimates for CST technologies are exaggerated by a combination of high capital cost estimates and the financial analysis methods used. The results of these assessments are often used in investment decision-making processes of industry and government bodies, so this may have a negative impact on further development of CST technologies. While it is apparent that revision of the methods used in these analyses could improve the apparent cost effectiveness of CST, it is also apparent that the competitiveness of CST technologies needs to be improved through cost reduction and generation improvement. One major driver for this is that some CST technologies have the capability to efficiently store energy in thermal form for electricity production on demand and this could have significant benefits to both specific users and to the general electricity network stability. As a stage in identifying potential targets for new research that will improve competitiveness of CST technologies, a sensitivity analysis was performed to examine the influence of a broad range of factors on the cost of electricity using combined performance modeling and financial analysis. This largely reconfirms the commonly held view that reduction of solar collector costs is a critical target, but also identifies the importance of improving the performance of the overall power generation cycle and general cost reduction throughout the plants.

Financial Literacy Effect and Fintech in Investment Decision Making

2021 ◽  
Vol 19 (1) ◽  
pp. 168
Author(s):  
Yopy Junianto ◽  
Cliff Kohardinata
Keyword(s):  
Decision Making ◽  
Financial Literacy ◽  
Investment Decision ◽  
Investment Decisions ◽  
Literacy Skills ◽  
Investment Decision Making ◽  
Business Opportunities ◽  
Technological Developments ◽  
Short And Long Term

Indonesia is a country that has a fairly good level of investment from year to year, based on KSEI 2020 data. This indicates that Indonesia's business opportunities are quite promising. This increase in investment was also followed by technological developments in the financial sector as we know fintech. The results of this fintech product have been widely used by many groups, especially for investment activities. This is one of the driving points for increasing investment in Indonesia. In general, investments are usually made by people who have sufficient literacy skills. Because various experiences state that someone who has good financial literacy will be able to make good decisions in terms of finances that have both short and long term impacts. However, the current condition has a different pattern where even without financial literacy the cloud community is currently able to invest even if they only get a little information. This research was conducted to see and explain the phenomena that occurred and provide confirmation that the shift in perspective patterns occurred. The result of the research states that financial literacy does not influence a person in making decisions, while fintech is a factor that influences someone in making investment decisions.

Cashflow Simulation for Evaluating Credit Risk on Corporate Bonds

1971 ◽  
Vol 97 (1) ◽  
pp. 85-97
Author(s):  
V. H. Karmarker
Keyword(s):  
Decision Making ◽  
Cash Flow ◽  
Financial Institutions ◽  
Investment Decision ◽  
Corporate Bonds ◽  
Flow Simulation ◽  
Rational Decision ◽  
Investment Decision Making ◽  
Rational Investment

Corporate bonds and privately placed loans constitute a large proportion of the portfolios of several financial institutions. When bonds of a corporation are purchased in the market or loans are granted by some other arrangement, the lender evaluates the risk relating to the investment in question. Determination of the level of risk is important, among other things, for facilitating comparison between different investments, setting the terms of loan agreements and making a rational decision concerning the acceptance or rejection of a loan proposal. Since evaluation of risk is very important for rational investment decision-making, the nature of risk in bond investment is examined briefly in the next section. In the subsequent sections, the prevailing techniques of evaluation of risk will be reviewed and the cash flow simulation model presented.

scholarly journals Uncertainty and Private Investment Decision in Malaysia

2018 ◽  
Vol 12 (9) ◽  
pp. 71
Author(s):  
Lay Lian Chuah ◽  
Wai Ching Poon ◽  
Balachandher Krishnan Guru
Keyword(s):  
Negative Impact ◽  
Investment Decision ◽  
Trade Openness ◽  
Private Investment ◽  
Tax Incentives ◽  
User Cost ◽  
Investment Decision Making ◽  
Aggregate Investment ◽  
Using Data ◽  
Limited Scope

This study examines the effects of uncertainty on irreversible aggregate investment using data from 1971-2010. Results provide evidence to support the argument that macroeconomic uncertainties are important in the forward-looking investment decision-making process. This study concludes that the demand and lagged demand uncertainties have a relatively stronger effect on investments compared with other macro uncertainties. The structure of the economy, the depth of the financial system, and the promotion of trade openness reduce the negative impact of uncertainties on investment. The study also finds the elasticity of the user cost of capital to be less than unity, indicating limited scope for governments to influence investment through tax incentives.

scholarly journals Financial Literacy Effect and Fintech in Investment Decision Making

2020 ◽  
Vol 18 (3) ◽  
pp. 150
Author(s):  
Yopy Junianto ◽  
Cliff Kohardinata ◽  
Diana Silaswara
Keyword(s):  
Decision Making ◽  
Financial Literacy ◽  
Investment Decision ◽  
Investment Decisions ◽  
Literacy Skills ◽  
Investment Decision Making ◽  
Business Opportunities ◽  
Technological Developments ◽  
Short And Long Term

Indonesia is a country that has a fairly good level of investment from year to year, based on KSEI 2020 data. This indicates that Indonesia's business opportunities are quite promising. This increase in investment was also followed by technological developments in the financial sector as we know fintech. The results of this fintech product have been widely used by many groups, especially for investment activities. This is one of the driving points for increasing investment in Indonesia. In general, investments are usually made by people who have sufficient literacy skills. Because various experiences state that someone who has good financial literacy will be able to make good decisions in terms of finances that have both short and long term impacts. However, the current condition has a different pattern where even without financial literacy the cloud community is currently able to invest even if they only get a little information. This research was conducted to see and explain the phenomena that occurred and provide confirmation that the shift in perspective patterns occurred. The result of the research states that financial literacy does not influence a person in making decisions, while fintech is a factor that influences someone in making investment decisions.

The role of affective reactions on investment decision-making

2007 ◽  
Author(s):  
Enrico Rubaltelli ◽  
Giacomo Pasini ◽  
Rino Rumiati ◽  
Paul Slovic
Keyword(s):  
Decision Making ◽  
Investment Decision ◽  
Affective Reactions ◽  
Investment Decision Making

Light Side of Design: Professional Vector

2020 ◽  
pp. 23-33
Author(s):  
Elena A. Zaeva-Burdonskaya ◽  
Yuri V. Nazarov
Keyword(s):  
Professional Practice ◽  
Wide Spectrum ◽  
Scientific Basis ◽  
Design Culture ◽  
Interdisciplinary Nature ◽  
Educational Programmes ◽  
Design Activities ◽  
The Subject ◽  
Light Side

This article addresses one of the most actively developing types of design activities – light design. The article comprises quotes of the leading Russian and foreign light design specialists published over the previous five years, as well as the authors’ own conclusions. The thoughts quoted in the article are sometimes opposite to each other and reflect the wide spectrum of professional practice. They reflect the initial opinions of analysts and experts which are often diverging. All of the specialists point at the interdisciplinary nature of the new profession, which imposes additional load on a designer overloaded enough already by the scope and speed of the problems being solved nowadays. The discussion of the new profession of light designer initiated on the pages of professional publications is especially important in view of the development of professional standards and standards of design and architectural education, as well as creation of new educational programmes based on various approaches to the subject in technical and humanitarian institutions. The goal of this article is to introduce light design into the field of fully legitimate sections of design culture, to define the authentic scientific basis of the new creative profession, to initiate a foundation for self-determination of the new synthetic area, which materially affects the state of the profession as a whole and the life standards of a wide variety of consumers. In order to reach the set goal, a comparative and analytical method of study was selected, which allows studying the problem to a large extent and from all angles and finding the ways of overcoming the challenges emerging in the area of the new activity.

Science of Ahangyol and Its Importance for Modern Scientific Thought

2019 ◽  
Vol 10 (5) ◽  
pp. 473-478
Author(s):  
Ahmad Gashamoglu ◽  
Keyword(s):  
Modern Science ◽  
Scientific Basis ◽  
New Paradigm ◽  
Islamic Philosophy ◽  
Scientific Thought ◽  
Religious Books ◽  
Strategic Approach ◽  
Scientific Potential ◽  
Made In

The Article briefly discusses the need for generation of the Science of Ahangyol, and this science’s scientific basis, object and subject, category system, scientific research methods and application options. Ahangyol is a universal science and may be useful in any sphere. It may assist in problem solving in peacemaking process and in many areas such as ecology, economics, politics, culture, management and etc. This science stipulates that any activity and any decision made in the life may only and solely be successful when they comply with harmony principles more, which are the principles of existence and activity of the world. A right strategic approach of the Eastern Philosophy and the Middle Age Islamic Philosophy and scientific thought has an important potential. This strategic approach creates opportunities to also consider irrational factors in addition to rational ones comprehensively in scientific researches. The modern scientific thought contributes to implementation of these opportunities. Ahangyol is a science of determination of ways to achieve harmony in any sphere and of creation of special methods to make progress in these ways through assistance of the modern science. Methods of the System Theory, Mathematics, IT, Astronomy, Physics, Biology, Sociology, Statistics and etc. are more extensively applied. Information is given on some of these methods. Moreover, the Science of Ahangyol, which is a new philosophical worldview and a new paradigm contributes to clarification of metaphysic views considerably and discovery of the scientific potential of religious books.

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