PORTFOLIO MANAGEMENT OF ENERGY SAVING PROJECTS BASED ON THE MARKOVITS THEORY

2021 ◽  
pp. 79-91
Author(s):  
S. Kiyko ◽  
L. Deineha ◽  
M. Basanets ◽  
D. Kamienskyi ◽  
A. Didenko
Keyword(s):  
Energy Saving ◽  
Portfolio Optimization ◽  
Portfolio Management ◽  
Quadratic Function ◽  
Subject Area ◽  
Linear Constraints ◽  
Point Of View ◽  
Investment Portfolio ◽  
Financial Investment ◽  
Software Application

The goal of the work was to identify research and compare methods of portfolio management of energy saving projects and to develop software for optimizing portfolio investments using several methods. The key elements and strategies of creating an effective investment portfolio are considered: diversification, rebalancing, active portfolio management, passive portfolio management. Given the basic principles of investment theory, the task of portfolio investment is to form an investment portfolio with known shares of certain assets to maximize returns and minimize risk. To solve this problem, the method of Harry Markowitz, known as modern portfolio theory, was chosen. This is the theory of financial investment, in which statistical methods are used to make the most profitable risk distribution of the securities portfolio and income valuation, its components are asset valuation, investment decisions, portfolio optimization, evaluation of results. From a mathematical point of view, the problem of forming an optimal portfolio is the problem of optimizing a quadratic function (finding the minimum) with linear constraints on the arguments of the function. Methods of optimization of portfolios of energy saving projects taking into account the specifics of the subject area are analyzed. According to the results of the analysis, the methods of finding the maximum Sharpe’s ratio and the minimum volatility from randomly generated portfolios were chosen. A software application has been developed that allows you to download data, generate random portfolios and optimize them with selected methods. A graphical display of portfolio optimization results has also been implemented. The program was tested on data on shares of energy saving companies. The graphs built by the program allow the operator to better assess the created portfolio of the energy saving project.

scholarly journals Quantitative approach to project portfolio management: proposal for Slovak companies

2019 ◽  
Vol 10 (4) ◽  
pp. 797-814 ◽  
Author(s):  
Pavol Kral ◽  
Viera Valjaskova ◽  
Katarina Janoskova
Keyword(s):  
Mathematical Model ◽  
Integer Programming ◽  
Portfolio Optimization ◽  
Portfolio Management ◽  
Questionnaire Survey ◽  
Programming Model ◽  
Value Added ◽  
Point Of View ◽  
Project Portfolio ◽  
Strategic Objectives

Research background: Project portfolio optimization isa  demanding process in the case of considering a large number of project intentions and has so far been the subject of research by many authors, especially foreign authors. However, the issue of project portfolio optimization is an area that is not sufficiently addressed by Slovak authors. This was the main impulse to create a specific mathematical model of integer programming with bivalent variables to optimize the company's project portfolio with the intention to reflect the specific requirements of Slovak companies. Purpose of the article: The aim of the article is to propose a mathematical model of integer programming with bivalent variables to optimize the project portfolio with a focus on Slovak companies. Methods: In accordance with the aim of the article, a questionnaire survey was carried out with the intention of identifying the criteria that are perceived by the managers of Slovak companies as important in the optimization of the project portfolio. These criteria were subsequently reflected in the mathematical model design using the mathematical programming method. Findings & Value added: Based on a literature review aimed at the project portfolio optimization, we have found a gap in considering the compliance of project intentions and strategic objectives of the company within the optimization of the project portfolio. Based on the results of the questionnaire survey, the significance of the mutual compliance of project intentions with the strategic objectives of the company was confirmed from the point of view of Slovak companies. Given the fact that our aim was to create an innovative integer programming model with bivalent variables orientated to the conditions of Slovak companies, we included in the resulting model the criteria that were not considered within the scope of existing research in this area, and which are perceived as important by the Slovak companies.

A web-based language learning environment: general architecture

ReCALL ◽  
1999 ◽  
Vol 11 (S1) ◽  
pp. 31-39
Author(s):  
Pierre-Yves Foucou ◽  
Natalie Kübler
Keyword(s):  
Learning Environment ◽  
Language Learning ◽  
Computer Science ◽  
Subject Area ◽  
Point Of View ◽  
Learning Activities ◽  
Web Based ◽  
Wide Range ◽  
General Architecture ◽  
The Web

In this paper, we present the Web-based CALL environment (or WALL) which is currently being experimented with at the University of Paris 13 in the Computer Science Department of the Institut Universitaire de Technologie. Our environment is being developed to teach computer science (CS) English to CS French-speaking students, and will be extended to other languages for specific purposes such as, for example, English or French for banking, law, economics or medicine, where on-line resources are available.English, and more precisely CS English is, for our students, a necessary tool, and not an object of study. The learning activities must therefore stimulate the students' interest and reflection about language phenomena. Our pedagogical objective, relying on research acquisition (Wokusch 1997) consists in linking various texts together with other documents, such as different types of dictionaries or other types of texts, so that knowledge can be acquired using various appropriate contexts.Language teachers are not supposed to be experts in fields such as computer sciences or economics. We aim at helping them to make use of the authentic documents that are related to the subject area in which they teach English. As shown in Foucou and Kübler (1998) the wide range of resources available on the Web can be processed to obtain corpora, i.e. teaching material. Our Web-based environment therefore provides teachers with a series of tools which enable them to access information about the selected specialist subject, select appropriate specialised texts, produce various types of learning activities and evaluate students' progress.Commonly used textbooks Tor specialised English offer a wide range of learning activities, but they are based on documents that very quickly become obsolete, and that are sometimes widely modified. Moreover, they are not adaptable to the various levels of language of the students. From the students' point of view, working on obsolete texts that are either too easy or too difficult can quickly become demotivating, not to say boring.In the next section, we present the general architecture of the teaching/learning environment; the method of accessing and using it, for teachers as well as for students, is then described. The following section deals with the actual production of exercises and their limits. We conclude and present some possible research directions.

scholarly journals Design Process of Energy Effective Shredding Machines for Biomass Treatment

10.14311/1622 ◽  
2012 ◽  
Vol 52 (5) ◽  
Author(s):  
Juraj Beniak ◽  
Juraj Ondruška ◽  
Viliam Čačko
Keyword(s):  
Energy Consumption ◽  
Energy Saving ◽  
Design Process ◽  
Electric Energy ◽  
Point Of View ◽  
Processed Material ◽  
Material Saving

The shredding process has not been sufficiently investigated for the design of better, energy and material saving shredding machines. In connection with present-day concern about the environment, ecology, energy saving, recycling, and finding new sources of energy, we need to look at the design of shredding machinery, the efficiency of the machines that we using, and ways of improving them to save electric energy for their operation. This paper deals with sizing and designing shredding machines from the point of view of energy consumption and optimization for specific types of processed material.

scholarly journals Performance Analyses of Temporary Membrane Structures: Energy Saving and CO2 Reduction through Dynamic Simulations of Textile Envelopes

2018 ◽  
Vol 10 (7) ◽  
pp. 2548 ◽  
Author(s):  
Mariangela De Vita ◽  
Paolo Beccarelli ◽  
Eleonora Laurini ◽  
Pierluigi De Berardinis
Keyword(s):  
Energy Saving ◽  
Environmental Sustainability ◽  
Co2 Reduction ◽  
Energy Performance ◽  
Climatic Conditions ◽  
Point Of View ◽  
Thermal Mass ◽  
Membrane Structures ◽  
Dynamic Simulations ◽  
Carbon Reduction

The aim of this research, carried out in collaboration with Maco Technology Inc., was to analyse the energy performance of temporary textile structures that are often used to host itinerant events. This paper illustrates the dynamic simulations carried on the Ducati Pavilion, designed by Maco Technology, which hosted Ducati staff during the different stages of the Superbike World Championship. Specific aspects relating to the structural/constructive system of the project were also analysed. The theme of energy saving and carbon reduction is of great importance in temporary and itinerant structures and environmental sustainability in relation to the materials used, storage, re-use, mode of transport and ability to respond efficiently to the climatic conditions of the installation sites is an important aspect. The Ducati Pavilion was modelled and analysed from an energy point of view using Design Builder software. Ways of improving performance were analysed under summer conditions. The paper focuses on the importance of optimizing the performance of textile envelopes: the methodology proposed allows visible savings in terms of energy consumption and achieves good levels of environmental comfort in temporary buildings with low thermal mass structure.

scholarly journals Application of Pd-Based Membrane Reactors: An Industrial Perspective

Membranes ◽  
2018 ◽  
Vol 8 (4) ◽  
pp. 101 ◽  
Author(s):  
Emma Palo ◽  
Annarita Salladini ◽  
Barbara Morico ◽  
Vincenzo Palma ◽  
Antonio Ricca ◽  
...  
Keyword(s):  
Hydrogen Production ◽  
Energy Saving ◽  
Chemical Industry ◽  
Energy Use ◽  
Point Of View ◽  
Membrane Reactors ◽  
Pure Hydrogen ◽  
Chemical Production ◽  
Synthetic Fuels ◽  
Technical Feasibility

The development of a chemical industry characterized by resource efficiency, in particular with reference to energy use, is becoming a major issue and driver for the achievement of a sustainable chemical production. From an industrial point of view, several application areas, where energy saving and CO2 emissions still represent a major concern, can take benefit from the application of membrane reactors. On this basis, different markets for membrane reactors are analyzed in this paper, and their technical feasibility is verified by proper experimentation at pilot level relevant to the following processes: (i) pure hydrogen production; (ii) synthetic fuels production; (iii) chemicals production. The main outcomes of operations in the selected research lines are reported and discussed, together with the key obstacles to overcome.

scholarly journals Application and Comparative Study of Optimization Algorithms in Financial Investment Portfolio Problems

2021 ◽  
Vol 2021 ◽  
pp. 1-10
Author(s):  
Shuai Liu ◽  
Chenglin Xiao
Keyword(s):  
Genetic Algorithm ◽  
Comparative Study ◽  
Capital Markets ◽  
Asset Allocation ◽  
Optimization Algorithms ◽  
Economic Benefits ◽  
Investment Portfolio ◽  
Financial Investment ◽  
Financial Products ◽  
Financial Portfolio

Portfolio theory mainly studies how to optimize the allocation of assets under the premise of maximizing expected returns and minimizing investment risks. In view of the instability of the financial market, a diversified investment portfolio can help control the loss of the investment portfolio. In addition to paying attention to the safety and return of asset allocation, we cannot ignore the liquidity of assets, that is, their liquidity. Adding high-liquidity products to asset allocation, such as equity investment, can better control the financial cash flow in response to emergencies. One of the ways to make assets flow is to securitize assets and sell them to the market. In order to revitalize the stock assets, good investment efficiency is a necessary choice for financial investment. Various financial products and their derivatives continue to enter people’s vision. There are many financial products in reality, and optimizing the investment portfolio can bring high economic benefits. The purpose of this paper is to study the application of optimization algorithms in financial portfolio problems. (1) Monetary policy remains prudent and neutral. It is not easy to expect flooding, but flexibility is required in complex situations. (2) Financial resources are tilted towards innovation and transformation and capital markets, which is beneficial to the development of capital markets in the medium and long term. (3) Unblocking the transmission mechanism is conducive to lenient credit and tapping the wrong killing opportunities in private enterprise debt. (4) Banks and other financial institutions have moderate pressure to give benefits to entities, but in the long run, the interests of the two are consistent. (5) Finance risk prevention will continue, orderly breaking the rigid exchange and reshaping the financial structure and ecology. (6) The pace of opening up of the financial industry has accelerated, and the bond market investor structure has improved. In this paper, we establish different optimization schemes to compare and study the portfolio problem and then use MATLAB to solve the modeling and programming problem, calculate the highest return rate and the lowest risk value before and after optimization, and then make a comparative analysis to get a better optimization scheme. The results show that the genetic algorithm model is superior to the quadratic programming method in terms of risk control. The minimum risk of portfolio optimization through genetic algorithm has been reduced by about 40%, and the maximum return has increased by about 25%. The comprehensive optimization effect is better than the quadratic planning method and ultimately can obtain higher economic benefits. It can be seen that the optimization algorithm is of great significance for the comparative study of financial portfolio problems.

scholarly journals Restrição de Liquidez para Modelos de Seleção de Carteiras

2015 ◽  
Vol 13 (2) ◽  
pp. 288
Author(s):  
Gabriel Matos Pereira ◽  
Leonardo Riegel Sant'Anna ◽  
Tiago Pascoal Filomena ◽  
João Luiz Becker
Keyword(s):  
Stock Market ◽  
Portfolio Optimization ◽  
Financial Institutions ◽  
Portfolio Management ◽  
Regulatory Agency ◽  
Liquidity Constraint ◽  
Maximum Percentage ◽  
Monetary Value ◽  
High Influence

Liquidity is an important issue in portfolio management. In 2012, the Brazilian market regulatory agency (CVM) started to require all banks and brokerages to maintain liquidity control of their portfolios. This study presents a liquidity constraint which is endogenously incorporated to portfolio optimization to Brazilian Financial Institutions. The proposed constraint incorporates endogenously some practical issues such as: portfolio value, monetary volume traded, maximum percentage of monetary value, liquidation term date and liquidation level. This constrain is applied to the Brazilian Stock Market. The selected constraint parameters have high influence on the liquidity level of the portfolio.

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