scholarly journals The Reputation Effect

2015 ◽  
Vol 4 (1) ◽  
pp. 1-17
Author(s):  
Lionel Artige ◽  
Rosella Nicolini
Keyword(s):  
Empirical Analysis ◽  
Fixed Effects ◽  
Investment Project ◽  
Estimation Technique ◽  
Investment Projects ◽  
European Bank ◽  
Available Information ◽  
Reputation Effect ◽  
Fixed Effects Estimation

This paper proposes an empirical analysis of the role of memory in determining the size of credits granted by the European Bank for Reconstruction and Development (EBRD) during 1991–2003. We first build an original database from information associated with the number and contract types granted by clients, after which we develop an empirical strategy for capturing the role of memory, namely by defining three different indicators to approximate each client’s reputation. These indicators rely on the client’s identity and, when available, information associated with previous EBRD-financed investment projects. With the fixed-effects estimation technique, our results unambiguously show that the value of the first investment project financed by the EBRD, as a proxy for reputation, is the most effective indicator for established clients to determine the size of the credits they receive to finance further investments.

scholarly journals The Reputation Effect: A Case Study of Credit Contracts in Transition Economies

2016 ◽  
Vol 4 (1) ◽  
pp. 1
Author(s):  
Lionel Artige ◽  
Rosella Nicolini
Keyword(s):  
Empirical Analysis ◽  
Transition Economies ◽  
Fixed Effects ◽  
Investment Project ◽  
Estimation Technique ◽  
Investment Projects ◽  
Credit Contracts ◽  
Available Information

<p><em>This paper proposes an empirical analysis of the role of memory in determining the size of credits granted by the European Bank for Reconstruction and Development (EBRD) during 1991–2003. We first build an original database from information associated with the number and contract types granted by clients, after which we develop an empirical strategy for capturing the role of memory, namely by defining three different indicators to approximate each client’s reputation. These indicators rely on the client’s identity and, when available, information associated with previous EBRD-financed investment projects. With the fixed-effects estimation technique, our results unambiguously show that the value of the first investment project financed by the EBRD, as a proxy for reputation, is the most effective indicator for established clients to determine the size of the credits they receive to finance further investments.</em></p>

نماذج المحاكاة- محاكاة مونتي كارلو- كأسلوب كمي من أساليب النمذجة واتخاذ القرارات - مقاربة نظرية وتطبيقية

2021 ◽  
Vol 1 (1) ◽  
Author(s):  
محمد الأمين ◽  
بن حامد عبد الغني ◽  
مراس محمد
Keyword(s):  
Monte Carlo Simulation ◽  
Monte Carlo ◽  
Quantitative Methods ◽  
Practical Importance ◽  
Investment Project ◽  
Simulation Method ◽  
Period Analysis ◽  
Investment Projects ◽  
Monte Carlo Simulation Model

Our research aims to try to present the modeling mechanisms in the field of simulation and quantitative methods. The research is a presentation of the role of quantitative methods in making investment project evaluation decisions, more than that and is the use of the Monte Carlo simulation model in evaluation and multi-period analysis of investment projects under conditions Risk and uncertainty. And highlighting the theoretical, scientific and practical importance of the Monte Carlo simulation method in particular, and the importance of using quantitative methods in helping to make decisions in general

scholarly journals Current Issues in Assessment of Risks Related to Investment Projects

2018 ◽  
Vol 7 (3.15) ◽  
pp. 336 ◽  
Author(s):  
Alexander Sergeevich Voronov ◽  
Mikhail Vladimirovich Karmanov ◽  
Irina Anatolievna Kiseleva ◽  
Vladimir Ivanovich Kuznetsov ◽  
Lidia Sergeevna Leontieva
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Investment Project ◽  
Investment Projects ◽  
Project Valuation ◽  
Analysis Methods ◽  
Project Risks ◽  
Capm Model ◽  
Definition Of

The definition of the essence of an object of management in economics is an indispensable component of professional risk management. Since the national risk management theory is just being formed, the need to find a clear and comprehensive definition for the notion "risks" is especially topical. Capital valuation is one of the most important issues, which needs to be solved by companies during ROI studies. This article makes an attempt to study the role of risk management in the implementation of investment projects. The main purpose of this article is to identify the main regularities which determine the peculiarities of risk assessment in business, being the key element facilitating the organization of investment projects. The objectives have been as follows: to review the basic concepts of risk management; to study its components in business; to reflect the system and risk management principles, and to carry out risk assessment; to consider the main kinds of risks in the business area.The article describes various types of investment and project risks, risk analysis methods for investment projects, as well as efficiency indicators of investment projects, and provides an analysis of risk factors and uncertainties during the development of investment projects. The peculiarities of the practical use of project risks’ analysis methods have been studied. Risk assessment methods for an investment project help evaluate its feasibility, the time within which it will start being profitable, as well as the probabilistic volume of its future profits. Investment project valuation models have been analyzed, in particular, the CAPM model for emerging capital markets. The DCF method has been studied, being the base for assessing the attractiveness of business in general and a company's investment project in particular.  

scholarly journals Vector of Spatial Development of the Yenisei Siberia Regions: Krasnoyarsk Territory, Republic of Khakassia, Republic of Tuva

2019 ◽  
Vol 26 (7) ◽  
pp. 41-54
Author(s):  
S. M. Okladnikov ◽  
S. I. Berezovskaya ◽  
A. G. Mineev
Keyword(s):  
Open Data ◽  
New Economy ◽  
The Body ◽  
Resource Potential ◽  
Investment Projects ◽  
Regional Product ◽  
Available Information ◽  
Goals And Objectives ◽  
Qualitative Characteristics

This article provides a comprehensive assessment of the natural resource potential of the Krasnoyarsk Territory, the Republics of Khakassia and Tuva as part of implementing the «Yenisei Siberia» project. In the introductory section of the article, the authors set out the goals and objectives of the study of the quantitative and qualitative characteristics of the socio-economic potential of the Krasnoyarsk Territory, Republic of Khakassia, Republic of Tuva and examine the role of implementing particularly important Yenisei Siberia investment projects in the economic development of the territories. The body of the article starts with the overall review in the form of economic and statistical analysis of the socio-economic conditions in the regions examined. It is followed by an attempt at a statistical measurement of the influence of particularly important investment projects («Southern Cluster», «Construction of the railway Elegest - Kyzyl - Kuragino», «Construction of the timber processing complex in the Boguchansky district of the Krasnoyarsk Territory» and «Agro-industrial Park «Siberia») on a summarizing indicator of the economic activity of the regions - gross regional product (GRP). The investment projects were examined using open data sources and official statistical information. By comparing the available information from various sources, the authors assessed the adequacy of the obtained results to the current situation and challenges of the new economy.

scholarly journals The Role of Ethical Environment in Reducing Escalation of Commitment Bias

2021 ◽  
Vol 4 (2) ◽  
pp. 129
Author(s):  
Tertiarto Wahyudi ◽  
Yusnaini Yusnaini ◽  
Agil Novriansa
Keyword(s):  
Adverse Selection ◽  
Empirical Studies ◽  
Investment Project ◽  
Project Managers ◽  
Escalation Of Commitment ◽  
Ethical Environment ◽  
Postgraduate Students ◽  
Investment Projects ◽  
Decision Making Behavior

Several empirical studies have shown that decision makers tend to experience an escalation of commitment bias, namely a tendency to continue investment projects that are less profitable, even though there is information of the less profitable project performance and that other available alternative investment opportunities are more profitable in the future. This study aims to improve the manager's decision making behavior model by considering the ethical environment as one of the factors that influence investment project evaluation decisions. More specifically, this study empirically examines the ethical environment as a strategy to reduce the tendency for escalation of commitment behavior. This study uses a laboratory experimental method with a 2 x 2 factorial experimental design between subject with adverse selection (present / absent) and ethical environment (strong / weak). The research sample consisted of 246 undergraduate and postgraduate students in Accounting and Management who acted as investment project managers. Based on ANOVA analysis results, it shows that managers who experience adverse selection conditions tend to continue unfavorable projects (conduct escalation of commitment). In addition, the results of this study also show that the tendency of managers to end investment projects that are not profitable for managers who are in a condition of a strong ethical environment will be greater when they experience adverse selection conditions compared to when they do not experience it.

scholarly journals An Economic Analysis of Brownfield and Greenfield Industrial Parks Investment Projects: A Case Study of Eastern Slovakia

2021 ◽  
Vol 18 (7) ◽  
pp. 3472
Author(s):  
Henrieta Pavolová ◽  
Tomáš Bakalár ◽  
Alexander Tokarčík ◽  
Ľubica Kozáková ◽  
Tomáš Pastyrčák
Keyword(s):  
Return On Investment ◽  
Investment Project ◽  
Industrial Park ◽  
Investment Projects ◽  
Industrial Parks ◽  
Investment Capital ◽  
Potential Risks ◽  
Simple Additive Weighting ◽  
Available Information

The implementation of industrial park investment projects in relation to the use of brownfields and greenfields is a constantly debated issue. Brownfields are unused areas, often with devastated building objects and environmental burden that pose potential risks to the investor but also contain the possibility of using the available infrastructure and facilities for the use of the proposed investment project. The objective of the study was to assess the positive and negative investment of these types of sites based on the available information on the possibilities of investing in the implementation of the brownfield industrial park compared to the greenfield in the western part of East Slovak region and to identify a more appropriate alternative of investing. Based on the assessment of investment in the industrial parks, the appropriateness of the allocation of investment capital was assessed through the simple additive weighting (SAW) method. The SAW approach allows us to objectivize the weighting value of selected factors and thus assess the appropriateness of the allocation of investment capital. Based on the results, it is more advantageous to allocate the investment capital to the greenfield as the return on investment of the project expressed as a percentage of the average annual profit was 9.5%, compared to brownfield with only 2.9%.

Empirical Analysis of Clinical Evaluations on Children Involved in the Child Protection System: The Role of Age and Gender

2000 ◽  
Author(s):  
Erika Felix ◽  
Anjali T. Naik-Polan ◽  
Christine Sloss ◽  
Lashaunda Poindexter ◽  
Karen S. Budd
Keyword(s):  
Empirical Analysis ◽  
Child Protection ◽  
Protection System ◽  
Age And Gender ◽  
Clinical Evaluations ◽  
And Gender

Overcoming stereotypes of renewable energy

2019 ◽  
pp. 124-136
Author(s):  
Victor D. Gazman
Keyword(s):  
Renewable Energy ◽  
Empirical Analysis ◽  
Energy Generation ◽  
New Paradigm ◽  
Financial Instrument ◽  
Promising Direction ◽  
Investment Projects ◽  
Power Stations ◽  
New Generation ◽  
The Impact

The article considers prerequisites for the formation of a new paradigm in the energy sector. The factors that may affect the imminent change of leadership among the energy generation are analyzed. The variability of the projects of creation and functioning of power stations is examined. The focus is made on problematic aspects of the new generation, especially, storage and supply of energy, achieving a system of parity that ensures balance in pricing generations. The author substantiates the principles of forming system of parities arising when comparing traditional and new generations. The article presents the results of an empirical analysis of the 215 projects for the construction of facilities for renewable energy. The significance and direction of the impact of these factors on the growth in investment volumes of transactions are determined. The author considers leasing as an effective financial instrument for overcoming stereotypes of renewable energy and as a promising direction for accelerated implementation of investment projects.

Selecting which touchpoints to manage for customer loyalty: an empirical analysis in retail banking

2019 ◽  
pp. 39-54
Author(s):  
Marco Ieva ◽  
Cristina Ziliani
Keyword(s):  
Empirical Analysis ◽  
Customer Loyalty ◽  
Online Survey ◽  
Customer Experience ◽  
Retail Banking ◽  
Customer Experience Management ◽  
Moderating Role

Customer Experience develops through a journey of touchpoints. However, little is known on the role of touchpoints in contributing to customer loyalty, which is the final aim of Customer Experience Management. This study provides an examination of the relative and moderating role of frequency and positivity of exposure to more than twenty touchpoints and their interplay in contributing to customer loyalty. An online survey on more than three thousand consumers is run with reference to retail banking. Results show that only a small number of touchpoints is significantly related to customer loyalty. Findings point companies' attention to invest their efforts in managing both the frequency and positivity of specific touchpoints.

Improving the financial investment system as an object of business economics

2020 ◽  
Vol 26 (3) ◽  
pp. 508-526
Author(s):  
O.T. Astanakulov ◽  
E.G. Sheina
Keyword(s):  
Deductive Reasoning ◽  
Methodological Approach ◽  
Investment Project ◽  
Assessment Method ◽  
Expert Assessment ◽  
Business Economics ◽  
Financial Investment ◽  
Economic Relations ◽  
Investment Projects ◽  
Investment Control

Subject. This article explores the economic relations of economic entities concerning effective investment activities, combining elements of investment control and assessment of related risk. Objectives. The article aims to analyze and logically substantiate the stages and types of investment activities of enterprises and investment projects in-progress, as well as define a methodological approach to assessing project risks. Methods. For the study, we used a structural and logical analysis, and deductive reasoning. The methodological base of the study is based on the principles of the theory of finance, investment and risk management. Results. The article defines stages of assessing the financial condition of enterprises and proposes a methodological approach to assessing certain risks of an investment project based on the risk ranking by degree of probability and significance of an event through applying the expert assessment method. The article also presents a practice-oriented risk map for investment projects and clarifies the concept of Investment Control. Conclusions. The results of the study can help address the significant for the Russian economy issue of stimulating and developing investment activities at enterprises, as well as implementing and evaluating the effectiveness of investment projects at the micro-and macro-levels of the country's economy.

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