Determinants of policy risks of renewable energy investments

2017 ◽  
Vol 11 (1) ◽  
pp. 28-45 ◽  
Author(s):  
Nadine Gatzert ◽  
Thomas Kosub
Keyword(s):  
Risk Management ◽  
Renewable Energy ◽  
Developed Countries ◽  
Industry Studies ◽  
Content Type ◽  
Academic Literature ◽  
Energy Projects ◽  
Policy Risk ◽  
Practical Implications ◽  
Underlying Risk

Purpose Policy or regulatory risks represent one of the major barriers for renewable energy investments, especially against the background of several retrospective reductions of support schemes in Europe. This paper aims to contribute to the literature by offering a categorization of major risk drivers and determinants of policy risk associated with renewable energy projects in developed countries. Design/methodology/approach Based on a narrative (traditional) review of the academic literature and supported by industry studies regarding cases of support scheme cuts in Europe (from the end of 2010 until the end of 2013), the paper derives determinants of policy risks of renewable energy investments. Findings As a main result, the paper offers a concise categorization of major risk drivers of policy and regulatory risks associated with renewable energy investments in developed countries along with potential indicators. Practical implications The derived categorization of major risk drivers and the set of indicators are of high relevance for risk management and risk assessment of renewable energy investments, where understanding the underlying risk drivers is vital. The findings can thus be applied when establishing a sound risk management for renewable energy investments. Originality/value The paper helps (potential) investors, policymakers and regulators to assess policy risks associated with renewable energy investments.

Start-up motives and challenges facing female entrepreneurs in Tanzania

2019 ◽  
Vol 11 (2) ◽  
pp. 102-119 ◽  
Author(s):  
Nsubili Isaga
Keyword(s):  
Urban Areas ◽  
Developed Countries ◽  
Access To Finance ◽  
Female Entrepreneurs ◽  
Public And Private ◽  
Developed Country ◽  
Content Type ◽  
The Government ◽  
Survey Responses ◽  
Practical Implications

Purpose Research on women-owned business is more extensive in developed countries than in developing countries and such one cannot compare the results. This paper aims to examine the motives of women in Tanzania (a less developed country) to start their own businesses and the challenges they faced in running their businesses. Design/methodology/approach Based on 400 response to a semi-structured questionnaire and in-depth interview with 20 female entrepreneurs. Subsequently, descriptive and factors analysis were performed to analyze the data Findings Based on survey responses, the primary reason for starting a business was to create employment for the woman herself. Other motives include supplementing income and enabling women to be able to do the kind of work they wanted to do. According to the factor analysis, female entrepreneurs are driven more by push factors than pull factors. The most serious problems faced by female entrepreneurs are lack of access to finance, gender-related problems and social and cultural commitments. Research limitations/implications The sample was selected from urban areas of only three regions, out of 26 regions in Tanzania. Researchers may extend the study to other regions; also, the non-probability sampling method used in this study essentially means that there is a limitation to the extent to which the research findings can be generalized to the rest of the population of female entrepreneurs in Tanzania. Practical implications Policy makers, financial institutions and all organization that have a stake on development on female entrepreneurs in Tanzania should design policies and programs that encourage and promote the creation and growth of businesses. Collective efforts from the government, public and private institutions and NGOs are needed to eliminate the challenges, especially gender-related problems. Practical implications By studying female owner-managers’ motivations and constraints, the author suggests that to a greater extent, gender-related problems, social and cultural commitments and access to finance and networks are the constraints faced by female entrepreneurs. Originality/value The research on female entrepreneurs in the context of Tanzania is scarce, this study responds to a need of better understanding women motivations and constraints. By studying these factors, this study shows that startup motives and constraints faced by female entrepreneurs are unique to different contexts.

scholarly journals Measuring resource efficiency and resource effectiveness in manufacturing

2018 ◽  
Vol 67 (9) ◽  
pp. 1854-1881 ◽  
Author(s):  
Mangesh Gharfalkar ◽  
Zulfiqur Ali ◽  
Graham Hillier
Keyword(s):  
Design Methodology ◽  
Inverse Correlation ◽  
Resource Efficiency ◽  
Waste Generation ◽  
Content Type ◽  
Academic Literature ◽  
Shared Data ◽  
Resource Intensity ◽  
Three Stages ◽  
Practical Implications

Purpose The purpose of this paper is twofold: first, to identify and analyse existing resource efficiency (RE) and resource effectiveness measures and indicators (REMIs); and second, to identify gaps and develop a new indicator of “operational resource effectiveness” (OREft) suitable for manufacturing units. Design/methodology/approach Research methodology consists of three stages: gap identification, development and testing. Through review of academic literature, 40 REMIs are identified and analysed. A survey of manufacturers is carried out to validate the hypothesis and seek inputs on the development of the new indicator. The proposed indicator is tested by comparing OREft index of two manufacturing units with each other, with resource intensity per unit (RIPU), waste intensity per unit (WIPU) and with four other REMIs. Findings Analysis of 40 REMIs clearly points towards the absence of a hypothesised REMI. In total, 78 per cent of manufacturers surveyed in north England substantiate the hypothesis. Inverse correlation established between the proposed OREft indicator, RIPU, WIPU and other comparisons is likely to validate the output generated by the proposed indicator. Research limitations/implications Testing of this indicator is limited to two dissimilar manufacturing units that shared data. Practical implications The proposed indicator is useful for comparing the operational resource effectiveness of individual factories over a period as well as with other factories. RIPU and WIPU captured in this indicator also represent operational RE that can be used to initiate improvement action. Originality/value Inclusion of both, the resource consumption and the waste generation along with discount/multiplying factors that capture the circularity aspects is likely to be the distinguishing feature of this indicator.

Determinants of voluntary formation of risk management committees

2014 ◽  
Vol 29 (7) ◽  
pp. 649-671 ◽  
Author(s):  
Nkoko Blessy Sekome ◽  
Tesfaye Taddesse Lemma
Keyword(s):  
South Africa ◽  
Risk Management ◽  
Corporate Governance ◽  
Management Practices ◽  
Emerging Economy ◽  
Board Structure ◽  
Content Type ◽  
Listed Firms ◽  
Practical Implications

Purpose – The aim of this paper is to examine the nexus between firm-specific attributes and a company’s decision to setup a separate risk management committee (RMC) as a sub-committee of the board within the context of an emerging economy, South Africa. Design/methodology/approach – The authors analyse data extracted from audited annual financial reports of 181 non-financial firms listed on the Johannesburg Securities Exchange (JSE) by using logistic regression technique. Findings – The results show a strong positive relationship between the existence of a separate RMC and board independence, board size, firm size and industry type. However, the authors fail to find support for the hypotheses that independent board chairman, auditor reputation, reporting risk and financial leverage have an influence on a firm’s decision to establish RMC as a separately standing committee in the board structure. The findings signify the role of costs associated with information asymmetry, agency, upkeep of a standalone RMC, damage to the reputation of directors and industry-specific idiosyncrasies on a firm’s decision to form a separate RMC. Research limitations/implications – As in most empirical studies, this study focuses on listed firms. Nonetheless, future studies that focus on non-listed firms could add additional insights to the literature. Investigating the role of firm-specific governance attributes other than those considered in the present study (e.g. gender of directors, ownership structure, etc.) could further enhance the understanding of antecedents of risk-management practices. Practical implications – The findings have practical implications for the investment community in assessing the quality of risk management practices of companies listed on the JSE. Furthermore, the results provide insights that are potentially useful to the King Committee and other corporate governance regulators in South Africa in their effort to improve corporate governance practices. Originality/value – The present study focuses on firms drawn from an emerging economy which has profound economic, institutional, political and cultural differences compared to advanced economies, which have received a disproportionately higher share of attention in prior studies. Thus, the study contributes additional insights to the literature on corporate risk management from the perspective of an emerging economy.

Terrorism and tourism in France: the limitations of dark tourism

2017 ◽  
Vol 9 (2) ◽  
pp. 187-195 ◽  
Author(s):  
Hugues Seraphin
Keyword(s):  
Design Methodology ◽  
Developed Countries ◽  
Terrorist Attacks ◽  
Tourist Destination ◽  
Dark Tourism ◽  
Content Type ◽  
Tourist Destinations ◽  
Recovery Strategies ◽  
Key Terms ◽  
Practical Implications

Purpose The purpose of this viewpoint paper is to discuss whether dark tourism can be developed around the sites of recent terrorist attacks in France. Design/methodology/approach The paper is based on a literature review of key terms: dark tourism; tourism; and terrorism. Findings The paper observes that dark tourism is not popular in France, and dark tourism activities are unlikely to develop anywhere nearer the places where the recent terrorist attacks happened. France remains rather conservative in some aspects related to death. Practical implications Recent events in France might challenge the leadership of the destination. The disturbing commonalities between tourism and terrorism make it difficult to figure out suitable recovery strategies that would contribute to enhancing the image of the destination without jeopardising the life of civilians. Originality/value This paper presents France as a politically unstable tourist destination. In general, this scenario is normally associated with less-developed countries or non-established tourist destinations.

Business uncertainties for emerging contractors

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Keyword(s):  
Risk Management ◽  
Case Studies ◽  
Design Methodology ◽  
Reading Time ◽  
Cutting Edge ◽  
Content Type ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Emerging contractor firms face significant challenges which threaten the survival of their business. Through a focus on risk management and other strategies, such companies can better ascertain and manage risks to achieve profitability and growth. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

scholarly journals How open is OpenGLAM? Identifying barriers to commercial and non-commercial reuse of digitised art images

2019 ◽  
Vol 76 (1) ◽  
pp. 1-26 ◽  
Author(s):  
Foteini Valeonti ◽  
Melissa Terras ◽  
Andrew Hudson-Smith
Keyword(s):  
Design Methodology ◽  
Art Museums ◽  
End Users ◽  
Institutional Perspective ◽  
Content Type ◽  
Image Tracking ◽  
Academic Literature ◽  
Risks And Benefits ◽  
Quality Image ◽  
Practical Implications

Purpose In recent years, OpenGLAM and the broader open license movement have been gaining momentum in the cultural heritage sector. The purpose of this paper is to examine OpenGLAM from the perspective of end users, identifying barriers for commercial and non-commercial reuse of openly licensed art images. Design/methodology/approach Following a review of the literature, the authors scope out how end users can discover institutions participating in OpenGLAM, and use case studies to examine the process they must follow to find, obtain and reuse openly licensed images from three art museums. Findings Academic literature has so far focussed on examining the risks and benefits of participation from an institutional perspective, with little done to assess OpenGLAM from the end users’ standpoint. The authors reveal that end users have to overcome a series of barriers to find, obtain and reuse open images. The three main barriers relate to image quality, image tracking and the difficulty of distinguishing open images from those that are bound by copyright. Research limitations/implications This study focusses solely on the examination of art museums and galleries. Libraries, archives and also other types of OpenGLAM museums (e.g. archaeological) stretch beyond the scope of this paper. Practical implications The authors identify practical barriers of commercial and non-commercial reuse of open images, outlining areas of improvement for participant institutions. Originality/value The authors contribute to the understudied field of research examining OpenGLAM from the end users’ perspective, outlining recommendations for end users, as well as for museums and galleries.

Risk disclosure and risk governance characteristics: evidence from a developing economy

2020 ◽  
Vol 28 (4) ◽  
pp. 577-605 ◽  
Author(s):  
Shamsun Nahar ◽  
Mohammad Istiaq Azim ◽  
Md Moazzem Hossain
Keyword(s):  
Risk Management ◽  
Developed Countries ◽  
Business Environment ◽  
International Standards ◽  
Risk Governance ◽  
Developing Economy ◽  
Risk Disclosure ◽  
Content Type ◽  
Governance Practices ◽  
The Impact

Purpose The purpose of this paper is to explore to what extent risk disclosure is associated with banks’ governance characteristics. The research also focuses on how the business environment and culture may create a bank’s awareness of risk management and its disclosure. This study is conducted in a setting where banks are not mandated to follow international standards for their risk disclosures. Design/methodology/approach Using 300 bank-year observations comprising hand-collected private commercial bank data, the study uses regression analysis to investigate the influence of risk governance characteristics on risk disclosure. Findings This paper reports a positive relationship between risk disclosure and banks’ governance characteristics, such as the presence of various risk committees and a risk management unit. Practical implications Because studies are lacking on risk disclosure and risk governance conducted in developing countries, it is expected that this research will make a significant contribution to the literature and provide a foundation for further research in this field. Social implications This study complements the corporate governance literature, more specifically the risk governance literature, by incorporating agency theory, institutional theory and proprietary cost theory to provide robust evidence of the impact of risk governance practices in the context of a developing economy. Originality/value Previous studies on risk disclosure and governance determinants primarily involve developed countries. This paper’s contribution is to examine risk disclosure and risk governance characteristics in a developing country in which reporting according to international standards is effectively voluntary.

SMEs and adoption of innovative technologies

2020 ◽  
Vol 36 (10) ◽  
pp. 25-28
Keyword(s):  
Risk Management ◽  
Small Businesses ◽  
Management Strategy ◽  
Design Methodology ◽  
Reading Time ◽  
Technological Innovations ◽  
Risk Management Strategy ◽  
Content Type ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Exploiting new technological innovations can help increase the competitiveness of small businesses. But considerable risks are often involved in adopting such technologies. Knowledge risks are especially significant and it is imperative that firms become cognizant of such risks so that appropriate countermeasures can be devised and implemented as part of an effective risk management strategy. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format. 

The proactive pursuit of surging performance through supply chain risk management

2020 ◽  
Vol 36 (7) ◽  
pp. 35-37
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Design Methodology ◽  
Reading Time ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Content Type ◽  
Management Culture ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings This research paper concentrates on clarifying how the proactive supply chain risk management (SCRM) strategies of supply chain (SC) flexibility, SC responsiveness, and SC resilience, impact upon SCRM performance. Data from the Turkish manufacturers revealed that SC resilience and SC responsiveness significantly boost SCRM performance, as well as overall firm performance, by reducing their associated risk, but that SC flexibility does not. Furthermore, the presence of a risk management culture in itself did not yield the expected ultimate increase in SCRM performance. Originality/value The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

On the nature and financial performance of bitcoin

2019 ◽  
Vol 20 (2) ◽  
pp. 114-137 ◽  
Author(s):  
Elise Alfieri ◽  
Radu Burlacu ◽  
Geoffroy Enjolras
Keyword(s):  
Constant Term ◽  
Financial Assets ◽  
True Nature ◽  
Content Type ◽  
World Region ◽  
Academic Literature ◽  
Market Index ◽  
Portfolio Managers ◽  
Practical Implications ◽  
Relevant Factors

Purpose The purpose of this article is to provide some insights on the true nature of bitcoin and to study empirically its performance by using robust models, widely used in the academic literature. Previous studies assess performance with simple measures such as the Sharpe ratio. Such measures are insufficient because they do not take into account the bitcoin’s specificities, such as the possibilities to diversify risk. Design/methodology/approach The authors use quantitative methodologies to assess the performance of financial assets. Performance is defined as a risk-adjusted return. The authors use regression analysis and measure bitcoin’s performance as the constant term (α) of the projection of its returns on the returns of relevant factors of risk. Findings Bitcoin has low correlation with the market index and with factor-mimicking portfolios, which indicates opportunities to diversify risk. The performance of bitcoin (α) is positive and significant; this result is robust across period and world region specifications. Research limitations/implications The true nature of bitcoin is subject of debate and needs further research. Furthermore, other factors should be considered in analysing the bitcoin’s performance, such as those related to investors’ behaviour or political risk. Practical implications The empirical results obtained in this paper may be used by professional portfolio managers to diversify risk and to enhance their portfolio’s performance. Originality/value This paper adds to the literature by arguing that bitcoin has the nature of common stock, and therefore, its performance has to be assessed with models that are relevant for this type of securities. This paper is the first using performance models that adjust returns for relevant sources of risk.

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