scholarly journals Efficiency Evaluation and Selection Strategies for Green Portfolios under Different Risk Appetites

2021 ◽  
Vol 13 (4) ◽  
pp. 1933
Author(s):  
Wencheng Yu ◽  
Shaobo Liu ◽  
Lili Ding
Keyword(s):  
Behavioral Finance ◽  
Evaluation Model ◽  
Risk Preferences ◽  
Efficiency Evaluation ◽  
Conservative Strategy ◽  
Selection Strategies ◽  
Portfolio Efficiency ◽  
Risk Appetite ◽  
Evaluation Models ◽  
The One

Since investors have diverse risk motives for green investments, this paper uses data envelopment analysis (DEA) and simulation to accurately evaluate the efficiency of green portfolios from the perspective of investors’ subjective risks and accordingly provide suitable investment selection strategies. On the one hand, the paper integrates investors’ risk preferences with efficiency evaluation models under the framework of behavioral finance, and then constructs a green portfolio efficiency evaluation model based on cumulative prospect theory on the basis of defining green portfolio efficiency. On the other hand, by bringing realistic Chinese stock data into the evaluation model and solving it with the help of large number iteration and DEA, the trends of frontier movements and selection options of green portfolios under the influence of different risk preferences are obtained and analyzed. The empirical simulation reveals that: (1) if investors’ risk aversion at return rises, it will not only reduce the expected prospective value of the green portfolio, but also shift down and flatten the frontier of the green portfolio; indicating that investors will tend to reduce their risk-tolerant attitude and prefer a conservative strategy under the same value condition. (2) If investors increase their risk-seeking in the case of losses, this will raise the expected prospect value of the green portfolio and lead to an inward and steeper green portfolio frontier; suggesting that, given equal value, investors prefer to increase their risk-taking capacity and use aggressive strategies in the hope of turning the profit around. (3) The efficiency results of green portfolios are very sensitive to changes in investors’ risk preferences, suggesting that investors need to select and match green portfolios with their own risk appetite levels. The above findings enrich and expand the risk types and evaluation models in previous green investment studies from the perspective of investors’ subjective risk.

scholarly journals Operation Efficiency Evaluation of the China-Europe Freight Train Based on Grey Cross-Efficiency DEA

2020 ◽  
Vol 2020 ◽  
pp. 1-12
Author(s):  
Jun Zhang ◽  
Jianpeng Chang ◽  
Ping Lin ◽  
Minzi Song ◽  
Yanqiu Gong
Keyword(s):  
Sustainable Development ◽  
Evaluation Model ◽  
Grey System Theory ◽  
Efficiency Evaluation ◽  
Freight Train ◽  
Operation Efficiency ◽  
Evaluation Indicator ◽  
Actual Operating ◽  
Evaluation Models ◽  
Actual Operation

The China-Europe Freight Train (CEFT) serves as an important carrier and platform for international economic cooperation and international trade circulation between China and Europe. Since it worked, its actual operation and development have been affected by many factors, but the level of its actual operating efficiency and the main affecting factors of CEFT have been difficult to find, which has severely limited its sustainable development. Therefore, this paper scientifically selected the operation efficiency evaluation indicator system of CEFT and combined grey system theory, cross-efficiency method, and DEA to construct a new DEA evaluation model based on grey cross-efficiency, which can not only overcome the problem of ignoring the relative importance ratings of the evaluation indicator in the general DEA evaluation model and the traditional cross-efficiency DEA evaluation model but also more accurately evaluate the actual operation efficiency of CEFT. At the same time, based on the actual operating data of CEFT from 2011 to 2018 and the above new evaluation models, the CEFT’s operation efficiency was evaluated and tested by examples, showing that on the one hand, the grey cross-efficiency DEA evaluation model can more accurately evaluate the actual operation efficiency of CEFT than other traditional evaluation models; on the other hand, it is found that the “overseas cities,” “operating lines,” and “entry-exit nodes” are currently the main factors that limit the actual operation efficiency of CEFT and indicating improvement direction for the future efficient and sustainable development of CEFT.

scholarly journals Research on Utility Evaluation of Grid Investment considering Risk Preference of Decision-Makers

2020 ◽  
Vol 2020 ◽  
pp. 1-16
Author(s):  
Hongliang Wu ◽  
Daoxin Peng ◽  
Ling Wang
Keyword(s):  
Index System ◽  
Evaluation Model ◽  
Risk Preference ◽  
System Optimization ◽  
Decision Makers ◽  
Evaluation Index System ◽  
Evaluation Index ◽  
Risk Appetite ◽  
Utility Evaluation ◽  
The Index System

Effectiveness evaluations are one of the important ways to guide grid investment and to improve investment efficiency. Improving the effectiveness of grid investment evaluations is studied based on the optimization of the investment evaluation index system and the utility evaluation model. The index system is optimized by establishing an evaluation index system of grid investment effectiveness, considering the redundancy between the indices, and constructing an ISM-DEA model. The utility function model was introduced to fully consider the different risk appetites of decision-makers, and a utility evaluation model that takes risk appetite into account was established. An improved weight integration model based on multiobjective optimization was established by considering the minimum deviation and the trend-optimal objective function when setting the index weights. The calculation results show that the feasibility of the index system optimization model and utility evaluation model constructed in this study is verified under the premise of satisfying the assumptions. By adjusting the risk preference coefficient of decision-makers, the dynamic optimization of the grid investment utility evaluation results can be realized.

Study on Civil Architecture Energy Conservation Efficiency Fuzzy Synthetic Evaluation

2011 ◽  
Vol 94-96 ◽  
pp. 2292-2296
Author(s):  
Yong Ping Wang ◽  
Pei Yang ◽  
Chun Quan Dai
Keyword(s):  
Energy Conservation ◽  
Evaluation System ◽  
Evaluation Model ◽  
Evaluation Methodology ◽  
Efficiency Evaluation ◽  
Fuzzy Synthetic Evaluation ◽  
Conservation Efficiency ◽  
Synthetic Evaluation

Civil architecture energy conservation efficiency evaluation is a kind of multi-factors, multi-hierarchies and multi-criteria synthetic evaluation. Perfect civil architecture energy conservation efficiency evaluation indicators system and reasonably effective synthetic evaluation methodology are keys to do energy conservation efficiency synthetic evaluation. This paper is based on framing civil architecture energy conservation efficiency evaluation system, and uses fuzzy synthetic evaluation methodology to frame civil architecture energy conservation efficiency fuzzy synthetic evaluation model, in order to make the result of evaluation more objective and reasonable.

scholarly journals A COMPARATIVE ANALYSIS OF THE EFFICACY OF THREE PROGRAM-EVALUATION MODELS –A REVIEW ON THEIR IMPLICATION IN EDUCATIONAL PROGRAMS

2021 ◽  
Vol 9 (3) ◽  
pp. 326-336
Author(s):  
Zafar Iqbal ◽  
Muhammad Anees ◽  
Rahim Khan ◽  
Abdul Wadood ◽  
Shakila Malik
Keyword(s):  
Program Evaluation ◽  
Evaluation Model ◽  
Cost Effective ◽  
Educational Programs ◽  
Comparative Efficacy ◽  
Scholarly Journals ◽  
Cipp Model ◽  
Evaluation Models ◽  
High Standards ◽  
Kirkpatrick’S Model

Purpose of the study: This article reviews the comparative efficacy, theoretical and practical background of three program evaluation models (Stufflebeam’s CIPP model, Kirkpatrick’s model, and outcome-based evaluation models) and their implications in educational programs. The article discusses the strengths and limitations of the three evaluation models. Methodology: Peer-reviewed and scholarly journals were searched for articles related to program evaluation models and their importance. Keywords included program evaluation’, ‘assessment’, ‘CIPP model’, ‘evaluation of educational programs, ‘outcome-based model, and ‘planning’. Articles on Stufflebeam’s CIPP model, Kirkpatrick’s model, and outcome-based evaluation models were particularlyfocused because the review aimed at analysing these three models. The strengths and inadequacies of the three models were weighed and presented. Main Findings: The three models –outcome-based evaluation model, the Kirkpatric model, and the CIPP evaluation model –discussed in this review, have some strengths and weaknesses. Among the compared models, the CIPP model seems more appropriate for its implantation in evaluating educational programs because it is broader, comprehensive, flexible, cost-effective, and feasible. Applications of this study: Like other programs and projects, evaluation of educational programs is necessary to achieve high standards, better outcomes, and meet the objectives. Evaluation is employed before designing a particular educational program or during the already designed program. This review concludes that among different evaluation models, the CIPP evaluation model is more appropriate in evaluating educational programs because it is more comprehensive, efficient, and feasible.Employment of the CIPP model for evaluating educational programs can achieve plausible results about the overall progress of the educational programs. Novelty/Originality of this study: This review highlights the importance of different program evaluation models. It concludes that the CIPP evaluation model offers an excellent mechanism to evaluate educational programs at different stages.

scholarly journals Behavioral finance and games: simulations in the academic environment

2017 ◽  
Vol 29 (77) ◽  
pp. 297-311 ◽  
Author(s):  
Eliana Marcia Martins Fittipaldi Torga ◽  
Francisco Vidal Barbosa ◽  
Alexandre de Pádua Carrieri ◽  
Bruno Pérez Ferreira ◽  
Márcia Hiromi Yoshimatsu
Keyword(s):  
Stock Market ◽  
Financial Market ◽  
Behavioral Finance ◽  
Social Cognitive ◽  
Financial Analysis ◽  
Participant Observation ◽  
Comprehensive Knowledge ◽  
Training Professionals ◽  
Emotional Aspects ◽  
The One

ABSTRACT The contribution from this study lies in its reflection on the factors that influence market efficiency, which requires a multidisciplinary view to analyze the intervening factors that impact results of the financial system. It also contributes by reflecting on the need for new approaches for training professionals who will go on to work in financial and related areas and preparing them by using different financial analysis techniques; by reflecting on the fact that analytical practices are influenced by social, cognitive, and emotional aspects, enabling the students to be better prepared to act in the financial market; by presenting various technical possibilities and providing more comprehensive knowledge to choose the one that best suits the object of analysis and their preferences; and by reflecting on different ways of perceiving investment opportunities and risk, which can be expanded on in other studies on the segmentation of clients according to their preferences in the investor market. The aim of this study was to analyze how social and psychological aspects influenced the decisions involved in simulated trading operations. The relevance lies in its discussion of the philosophical and epistemological position in finance, which suffers from a vision that only focuses on the rationality of means and does not explain the anomalies verified in the financial market. The study originated from the application of a company game simulating the work of stock market trading desk operators, applied in the Stock Market Operations course and using fundamental, technical, and graphical techniques. The population was intentional and made up of undergraduate and graduate students from one of the four best Brazilian federal universities. The data analysis was performed by analyzing the content of the questionnaires applied and the journal entries made during participant observation.

Information Systems for Organizational Effectiveness Model

2012 ◽  
pp. 39-61
Author(s):  
Govindan Marthandan ◽  
Chun Meng Tang
Keyword(s):  
Information Systems ◽  
Organizational Effectiveness ◽  
Evaluation Model ◽  
Business Value ◽  
Business Managers ◽  
Vast Number ◽  
Organisational Effectiveness ◽  
Effectiveness Model ◽  
Evaluation Models ◽  
Is Evaluation

Despite the proposal of various Information Systems (IS) evaluation models and approaches, IS evaluation has never been straightforward. There are issues and challenges in proving the business value of IS. Adding to the difficulty, a vast number of measures have been employed conveniently for evaluation purposes without going through a rigorous validation process. Recognising the complexity for IS researchers, IS specialists, and business managers to agree on a common model for the evaluation of IS business value, this chapter presents an empirically validated IS evaluation model, the IS for organisational effectiveness (ISOE) model, for planning, designing, implementing, and appraising IS. There also emerges a new theory, the Information System business value (ISBV) theory, from the ISOE model to establish that IS business value is multifaceted and are observable in the form of improvements in organisational effectiveness.

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