The Impact of Tariff Regulation on Potential Investor’s Decision in District Heating

2016 ◽  
Vol 2016 (5) ◽  
pp. 92-112
Author(s):  
Viktoriya Gimadi
Keyword(s):  
Current System ◽  
Investment Decision ◽  
District Heating ◽  
Rate Of Return ◽  
Total Revenue ◽  
Negative Effect ◽  
The Impact ◽  
The Empirical Analysis ◽  
Efficiency Indicators

The paper analyses the ways how long-term tariff regulation impacts on investment decision in district heating in Russia. Concessions in district heating gave us good chance to analyze impact of tariff regulation on the potential concessionaire decision who is choosing between agreements. The empirical analysis shows that potential concessionaire makes such decisions taking into account specific tariff parameters. The probability of attracting potential investor increases because of indicated volume of rate of return or including energy efficiency indicators; the ratio of operating expenses has negative effect on the probability. The growth rates of total revenue indicated for all years of the planned agreement has no effect on the probability. Potential concessionaire prefers to choose agreements, where the volume of investment commitments is lower, because he is not ready to assume ambitious commitments in the district heating in the current system of regulation.

ISSUES OF THE RELATIONSHIP BETWEEN THE STATE BUDGET AND ECONOMIC GROWTH IN UZBEKISTAN

2021 ◽  
Vol 4 (7) ◽  
pp. 4-19
Author(s):  
Akmal Baltayevich Allakuliev ◽  
Keyword(s):  
Economic Growth ◽  
The State ◽  
Rate Of Return ◽  
State Budget ◽  
Macroeconomic Shocks ◽  
Dynamic Correlations ◽  
Short And Long Term ◽  
The Impact ◽  
The Relationship

The article examines the interaction of the country's GDP with the state budget in the short and long term, the impact of the macro-fiscal mechanism on the country's economic growth on the example of Uzbekistan.The aim of the study is to identify dynamic correlations between the country's state budget expenditures and the economic growth of the macro-fiscal mechanism in the short and long term, as well as to analyze the approximation or rate of return of GDP and the state budget to equilibrium during various macroeconomic shocks. and hesitation.The scientific novelties of the research are:

Does salience matter in investment decision?

Kybernetes ◽  
2019 ◽  
Vol 48 (8) ◽  
pp. 1894-1912
Author(s):  
Samra Chaudary
Keyword(s):  
Investment Decision ◽  
Investment Decisions ◽  
Equation Modeling ◽  
Individual Investors ◽  
Short Term ◽  
Content Type ◽  
Multigroup Analysis ◽  
Money Managers ◽  
The Impact

Purpose The paper takes a behavioral approach by making use of the prospect theory to unveil the impact of salience on short-term and long-term investment decisions. This paper aims to investigate the group differences for two types of investors’ groups, i.e. individual investors and professional investors. Design/methodology/approach The study uses partial least square-based structural equation modeling technique, measurement invariance test and multigroup analysis test on a unique data set of 277 active equity traders which included professional money managers and individual investors. Findings Results showed that salience has a significant positive impact on both short-term and long-term investment decisions. The impact was almost 1.5 times higher for long-term investment decision as compared to short-term decision. Furthermore, multigroup analysis revealed that the two groups (individual investors and professional investors) were statistically significantly different from each other. Research limitations/implications The study has implications for financial regulators, money managers and individual investors as it was found that individual investors suffer more with salience heuristic and may end up with sub-optimal portfolios due to inefficient diversification. Thus, investors should be cautious in fully relying on salience and avoid such bias to improve investment returns. Practical implications The study concludes with a discussion of policy and regulatory implications on how to minimize salience bias to achieve optimum and diversified portfolios. Originality/value The study has significantly contributed to the growing body of applied behavioral research in the discipline of finance.

scholarly journals Environment and Potential Affecting Investment Decision for Accommodation Business: Case of Less Visited Area in Samut Songkhram and Phatthalung Province

2021 ◽  
Vol 58 (2) ◽  
pp. 1706-1717
Author(s):  
Krisada Sungkhamanee, Piyadhida Sungkhamanee
Keyword(s):  
Financial Literacy ◽  
Investment Decision ◽  
Investment Decisions ◽  
Business Case ◽  
Potential Factors ◽  
Short Term Investment ◽  
The Impact ◽  
Moderating Role

Investment decisions have great importance in different sectors of various countries and these decisions are the basis on which the outcomes of the investments are based. However, there might be certain factors that might lead to the incorrect long term and short term investment decisions. In this regard, the current study has been conducted with the core motive to explore the impact casted by the environment and potential factors i.e. salience and overconfidence on the long term investment decisions for accommodation business along with the moderation of a variable i.e. financial literacy. To fulfill this objective, the researcher has collected data from the investors of accommodation businesses in Thailand. The collected data has been subjected to different statistical techniques and tools for analysis purpose and the results have been obtained. The results obtained by the analysis of the collected data indicate that salience and overconfidence have significant impact on the long term investment decision. In addition, the moderating role of financial literacy has also been found as significant in the study. The results suggest that the investors of the accommodation business must consider the aspects of salience and overconfidence before taking any long term investment decision to avoid failure of the investment decision.    

The Impact of Tariff Regulation on Investment in Russian Electricity Distribution Sector

2016 ◽  
Vol 2016 (5) ◽  
pp. 69-91
Author(s):  
Yuliya Orlova ◽  
Olga Kadreva
Keyword(s):  
District Heating ◽  
Distribution Networks ◽  
Investment Model ◽  
Electricity Distribution ◽  
Explanatory Factors ◽  
Dynamic Investment ◽  
Distribution Sector ◽  
The Impact ◽  
Positive Effect

The paper investigates the mid-term results of the tariff regulation influence on the amount of capital expenditures in Russian electricity distribution sector. We estimate panel data with the dynamic investment model using system GMM method. We showed that horizon of tariff regulation period is statistically significant and transition from the short-term regulation to the long-term tariff system had positive effect on the amount of regulated companies’ investments. At the same time we found that the design of long-term regulation applied in Russia in 2009–2013 (type of RAB-regulation and long-term indexation) was not statistically significant to the amount of investments. All over all, the amount of investments in electricity distribution networks has similar to European peers explanatory factors. The obtained results are important to the further improvement of regulation in power energy and can be applied in district heating as well.

scholarly journals Impact of Multilateral Trade Liberalization on Resource Revenue

Economies ◽  
2018 ◽  
Vol 6 (4) ◽  
pp. 60 ◽  
Author(s):  
Sena Gnangnon ◽  
Jean-François Brun
Keyword(s):  
Trade Liberalization ◽  
Full Sample ◽  
Multilateral Trade ◽  
Domestic Trade ◽  
Generalized Methods Of Moments ◽  
Negative Effect ◽  
Multilateral Trade Liberalization ◽  
Methods Of Moments ◽  
The Impact ◽  
The Empirical Analysis

This paper investigates the impact of multilateral trade liberalization on resource revenue, using an unbalanced panel dataset comprising 57 countries, including both developed and developing countries, over the period 1995–2015. By means of the two-step system Generalized Methods of Moments (GMM) estimator, the empirical analysis suggests that multilateral trade liberalization exerts a negative effect on resource revenue, probably at the benefit of non-resource revenue. However, this effect over the full sample hides a positive effect of multilateral trade liberalization on resource revenue in poorest countries, and a negative effect of multilateral trade liberalization on resource revenue in non-poorest countries of the sample. Additionally, the negative effect of multilateral trade liberalization on resource revenue over the full sample appears to be dependent on the degree of domestic trade liberalization. In fact, multilateral trade liberalization genuinely induces a reducing effect on resource revenue only if countries liberalize their domestic trade regime beyond a minimum level.

The impact of preoperative dexamethasone on long-term survival following surgery for colorectal cancer.

2018 ◽  
Vol 36 (4_suppl) ◽  
pp. 644-644
Author(s):  
Stephen Thomas McSorley ◽  
Bo Khor ◽  
Campbell SD Roxburgh ◽  
Paul G. Horgan ◽  
Donald C McMillan
Keyword(s):  
Colorectal Cancer ◽  
Propensity Score ◽  
Cox Regression ◽  
Elective Surgery ◽  
Matched Cohort ◽  
Curative Intent ◽  
Term Survival ◽  
Negative Effect ◽  
The Impact

644 Background: Steroids given at the induction of anaesthesia are associated with a reduction in the magnitude of the postoperative systemic inflammatory response and fewer complications following elective surgery for colorectal cancer (McSorley et al. Ann Surg Oncol 2017;24(8):2104-2112). The present study examined their impact on survival. Methods: Patients who underwent elective surgery, with curative intent, for stage I-III colorectal cancer at a single centre between 2008 and 2016 were included. Data on preoperative dexamethasone was obtained from anaesthetic records, and its impact on cancer specific (CSS) and overall survival (OS) assessed using Cox regression in an unmatched (n=556) and a propensity score matched cohort (n=276) (Table 1). Results: After excluding postoperative mortalities (n=3), there were 98 deaths (18%), with 57 (10%) due to cancer. Of those alive at censoring, the median follow up was 47 months (range 16-110). In the unmatched cohort, there was no significant association between dexamethasone and CSS (HR 0.90, 95% CI 0.52-1.53, p=0.688) or OS (HR 0.95, 95% CI 0.63-1.43, p=0.804). In the propensity score matched cohort, there was no significant association between dexamethasone and CSS (HR 1.18, 95% CI 0.55-2.53, p=0.668) or OS (HR 1.21, 95% CI 0.67-2.17), p=0.532). Conclusions: These results suggest that whilst preoperative steroids are associated with improved short term outcomes following surgery for colorectal cancer, they have no negative effect on long term outcomes. [Table: see text]

scholarly journals The Impact of Investment Decision and Funding on Financial Performance and Firm Value

2019 ◽  
Vol 8 (2) ◽  
pp. 103
Author(s):  
Hadi Santoso
Keyword(s):  
Data Analysis ◽  
Financial Performance ◽  
Firm Value ◽  
Stock Exchange ◽  
Investment Decision ◽  
Investment Decisions ◽  
The Right ◽  
The Impact ◽  
Selection Of

Managers who are responsible for the management of companies are faced with two important decisions - investment and funding. The right investment decisions and choice of funding sources are important because they affect the company's financial performance. The selection of the types of assets to be invested and the right types of financing sources result in optimal returns for the company. It reflects good company performance and future prospects. In addition, optimal return is a good sign for investors. Companies that perform well experience increase in the value of their firm. This study examined the effect of investment decisions and the selection of appropriate sources of funds on the performance of the company and the consequent impact on the firm value. The study was conducted in two parts. The first part examined the effect of investment decisions on long-term assets with long-term funding on the rate of return and firm value. The second part examined the effect of investment decisions on the company's short-term assets and funding for financial performance and firm value. The case study used in this research is a consumer goods sub-sector company listed on the Indonesia Stock Exchange in the period 2010 to 2017. Path analysis is the data analysis tools that was used. The results of data analysis showed that the asset structure has an effect on financial performance and firm value. The capital structure affects the financial performance but does not affect the firm value of the company. Financial performance was measured by ROI.

scholarly journals The New Wave of Currency Devaluations in Africa – Will the Devalued Birr Help the Coffee Exports?

2019 ◽  
Vol 12 (4.) ◽  
pp. 101-118
Author(s):  
Szabolcs Pasztor
Keyword(s):  
Developing Countries ◽  
Current Account Deficit ◽  
Balance Of Payments ◽  
New Wave ◽  
Long Run ◽  
Negative Effect ◽  
Short And Long Term ◽  
Coffee Sector ◽  
The Impact

Despite the fact that currency devaluations are likely to have a negative effect on the economy in the long run, Ethiopia devalued its national currency, the birr (ETB), by 15 percent in 2017. They turned to this option in the hope of attracting more investments from abroad, decreasing import bills, improving the current account deficit and giving a boost to the exports of the coffee sector. A couple of months later, the impact seems to be promising because the export has been revived in some areas. However, it has to be stressed that the imported commodities may experience a price increase, there can be a widening balance of payments deficit and rising inflation. The paper aims to shed more light on the short- and long-term impacts of currency devaluations in the developing countries with a special emphasis on Ethiopia. Also, the recent Ethiopian measure is to be analyzed in greater detail highlighting the impacts on export earnings, import bills, the balance of payments, and on the overall competitiveness of the coffee sector.

scholarly journals Exploring the Impact of a District Sharing Strategy on Application Capacity and Carbon Emissions for Heating and Cooling with GSHP Systems

2020 ◽  
Vol 10 (16) ◽  
pp. 5543
Author(s):  
Yi Zhang ◽  
He Qi ◽  
Yu Zhou ◽  
Zhonghua Zhang ◽  
Xi Wang
Keyword(s):  
Carbon Emissions ◽  
Urban Areas ◽  
District Heating ◽  
Low Carbon ◽  
Heating And Cooling ◽  
Ground Source ◽  
Sharing Strategy ◽  
Low Carbon Energy ◽  
The Impact

To meet long-term climate change targets, the way that heating and cooling are generated and distributed has to be changed to achieve a supply of affordable, secure and low-carbon energy for all buildings and infrastructures. Among the possible renewable sources of energy, ground source heat pump (GSHP) systems can be an effective low-carbon solution that is compatible with district heating and cooling in urban areas. There are no location restrictions for this technology, and underground energy sources are stable for long-term use. According to a previous study, buildings in urban areas have demonstrated significant spatial heterogeneity in terms of their capacity to demand (C/D) ratio under the application of GSHP due to variations in heating demand and available space. If a spatial sharing strategy can be developed to allow the surplus geothermal capacity to be shared with neighbors, the heating and cooling demands of a greater number of buildings in an area can be satisfied, thus achieving a city with lower carbon emissions. In this study, a GSHP district system model was developed with a specific embedding sharing strategy for the application of GSHP. Two sharing strategies were proposed in this study: (i) Strategy 1 involved individual systems with borehole sharing, and (ii) Strategy 2 was a central district system. Three districts in London were selected to compare the performance of the developed models on the C/D ratio, required borehole number and carbon emissions. According to the comparison analysis, both strategies were able to enhance the GSHP application capacity and increase the savings of carbon emissions. However, the improvement levels were shown to be different. A greater number of building types and a higher variety in building types with larger differentiation in heating and cooling demands can contribute to a better district sharing performance. In addition, it was found that these two sharing strategies were applicable to different kinds of districts.

scholarly journals Assessing the long-term impact of agricultural research on productivity: evidence from France

2020 ◽  
Vol 47 (4) ◽  
pp. 1559-1586
Author(s):  
Stéphane Lemarié ◽  
Valérie Orozco ◽  
Jean-Pierre Butault ◽  
Antonio Musolesi ◽  
Michel Simioni ◽  
...  
Keyword(s):  
Agricultural Research ◽  
Rate Of Return ◽  
Internal Rate Of Return ◽  
Long Run ◽  
Dynamic Time ◽  
Long Term Impact ◽  
Public Agricultural Research ◽  
The Impact ◽  
Range Of Values

Abstract This paper analyses the economic impact of agricultural research on productivity in France over the period 1959–2012. Adopting a dynamic time series model, we provide evidence that the impact of French agricultural research is in the range of values estimated for other countries, with the estimated long-run elasticity being 0.16, which corresponds to an internal rate of return of 22%. The estimated elasticity decreases at the beginning of the 1970s. Complementary analyses are developed to take into account the evolution of the priorities of public agricultural research (reorientation towards more fundamental objectives and focus on broader objective than productivity enhancement).

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