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Sample records for efficiency investments hidroameliorative improvements

  1. PARTICULARITIES IN THE FIELD OF THE ANALYSIS OF INVESTMENT EFFICIENCY IN HIDROAMELIORATIVE IMPROVEMENTS

    Directory of Open Access Journals (Sweden)

    Florin Marian BUHOCIU

    2005-01-01

    Full Text Available In the evolution of society, investments have always had a primary role in best satisfying the materialand spiritual needs of its members. Throughout the centuries, every country’s economic and financialevolution has depended on the investments’ volume and efficiency. The correlation betweeninvestments and modernization is fundamental for any economic activity, regardless of the branch inwhich it may be carried out. Promoting economic and technical progress is a vital condition for theeconomy of our country and also one of the most important ways of enhancing competitiveness, bymeans of large investment funds. Thus, the necessity for investment processes justifies the thoroughevaluation of investment projects.

  2. Investing in Energy Efficiency. Removing the Barriers

    International Nuclear Information System (INIS)

    2004-01-01

    Investing in improving energy efficiency has the clear advantages of reducing energy costs, improving security of supply and mitigating the environmental impacts of energy use. And still, many viable opportunities for higher energy efficiency are not tapped because of the existence of numerous barriers to such investments. These lost opportunities imply costs to the individual energy consumers and to the society as a whole and they are particularly important in economies in transition. This report identifies various types of barriers for making energy efficiency investments (be they of legal, administrative, institutional or financial nature), mainly in buildings, district heating and efficient lighting. The role of various bodies and organisations for the facilitation of energy efficiency investments is analysed, from public authorities and regulators to banks and international financing institutions

  3. 77 FR 54777 - Accelerating Investment in Industrial Energy Efficiency

    Science.gov (United States)

    2012-09-05

    ...--Accelerating Investment in Industrial Energy Efficiency Executive Order 13625--Improving Access to Mental... Accelerating Investment in Industrial Energy Efficiency By the authority vested in me as President by the... helping to facilitate investments in energy efficiency at industrial facilities, it is hereby ordered as...

  4. Valuating the Investment Efficiency of Distribution Companies

    Directory of Open Access Journals (Sweden)

    M. Karajica

    2007-01-01

    Full Text Available The task of this study is to valuate the investment efficiency of distribution companies. Although a series of publications and studies has been dedicated to this topic, it is difficult to find a general consensus in defining the investment efficiency of a company. Nevertheless if we simplify an imaginary  company as a production unit in which a series of actions transforms inputs to outputs, efficiency can be understood as like an effort to achieve maximum value of the outputs together with minimum usage of inputs, where the inputs constitute investments by a company. The investment efficiency of a company can be measured by expressing the absolute values of selected inputs and outputs, a relative expression of inputs and outputs, and perhaps an expression of the difference between them. However, an examination of the efficiency of a certain company is impossible without a valuation of other companies. In view of the amount of benchmarking, it should be emphasized, that this study is dedicated to a certain category of benchmarking, which we may term investment benchmarking. This benchmarking can be defined as a comparison of companies in terms investment efficiency. The purpose of this comparison is not only to investigate levels of investment efficiency and to relate them to other companies from the same branch, but also to locate the greatest efficiency and indicate potential improvement

  5. Improving Energy Efficiency Through Technology. Trends, Investment Behaviour and Policy Design

    Energy Technology Data Exchange (ETDEWEB)

    Florax, R.J.G.M. [Purdue University, West Lafayette, IN (United States); De Groot, H.L.F. [VU University, Amsterdam (Netherlands); Mulder, P. [Tinbergen Institute, Amsterdam (Netherlands)] (eds.)

    2011-10-15

    This innovative book explores the adoption of energy-saving technologies and their impact on energy efficiency improvements. It contains a mix of theoretical and empirical contributions, and combines and compares economic and physical indicators to monitor and analyse trends in energy efficiency. The authors pay considerable attention to empirical research on the determinants of energy-saving investment including uncertainty, energy-price volatility and subsidies. They also discuss the role of energy modelling in policy design and the potential effect of energy policies on technology diffusion in energy-extensive sectors. Written from a multi-disciplinary perspective, this book will appeal to academics and graduates in the areas of energy-saving technologies, energy economics and natural resource economics, as well as policy makers - particularly those in energy policy.

  6. Money Matters: Mitigating risk to spark private investments in energy efficiency

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2010-07-01

    Scaling-up investment in energy efficiency is essential to achieving a sustainable energy future. Despite energy efficiency's recognised advantages as a bankable investment with immense climate change mitigation benefits, most of the energy efficiency potential remains untapped and the investment gap to achieve climate goals is tremendous. This report seeks to improve understanding as to why this is so, and what can be done about it.

  7. ECONOMIC EFFICIENCY - DETERMINED ELEMENT IN INVESTMENT DECISION

    Directory of Open Access Journals (Sweden)

    Claudia MUNGIU-PUPAZAN

    2010-03-01

    Full Text Available Economic activity of a country are conducted by industry, under branches and production sectors, each with special characteristics and conditions of work, which, of course, put their imprint on the organization manner of the production process By an analysis of the concept of economic efficiency of investment is found that this is an amount of qualitative factors, which gives the latter a complex character, aimed to improving activity in the area where are taking place to the putting into service of such investment, which can be modernization, bringing new equipments, reconstruction and development. Study the economic efficiency of investment involves, as a base, an analysis of causal factors that determine the decision in the afferent medium of risk. Corresponding to peculiarities of the production process, it requires a proper methodology of assessment the economic efficiency of investment, with specification to maintain the general principles for calculating the economic efficiency indicators and specific indicators come only to complete the picture of indicators of general, basic and supplementary already calculated in order to provide additional clues, afferent to branch, under-branch or sector of activity.

  8. Money Matters: Mitigating risk to spark private investments in energy efficiency

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2010-07-01

    Scaling-up investment in energy efficiency is essential to achieving a sustainable energy future. Despite energy efficiency's recognised advantages as a bankable investment with immense climate change mitigation benefits, most of the energy efficiency potential remains untapped and the investment gap to achieve climate goals is tremendous. This report seeks to improve understanding as to why this is so, and what can be done about it.

  9. Factors influencing energy efficiency investments in existing Swedish residential buildings

    International Nuclear Information System (INIS)

    Nair, Gireesh; Gustavsson, Leif; Mahapatra, Krushna

    2010-01-01

    We used the data from a survey conducted in 2008 of 3,000 owners of detached houses to analyse the factors that influence the adoption of investment measures to improve the energy efficiency of their buildings. For the majority of Swedish homeowners, it was important to reduce their household energy use, and most of them undertook no-cost measures as compared to investment measures. Personal attributes such as income, education, age and contextual factors, including age of the house, thermal discomfort, past investment, and perceived energy cost, influence homeowners' preference for a particular type of energy efficiency measure. The implications for promoting the implementation of energy efficiency investment measures are discussed.

  10. Investment Strategy and Efficiency of Investment Activity of European Insurers

    Directory of Open Access Journals (Sweden)

    Zhabynets Olga Yo.

    2014-02-01

    Full Text Available The article studies investment strategy and efficiency of investment activity of European insurance companies. In particular, it analyses the share of investments of insurance companies of Europe in GDP, investment portfolio of European insurers and its structure, contribution of insurance companies – leaders of investment activity – into the European investment portfolio. It studies influence of the financial crisis upon investment strategy of European insurers and analyses efficiency of investment activity of European insurers in risk insurance and life insurance. The article proves that investment business models of insurance companies are capable of resisting crisis phenomena more efficiently than other financial institutions. It marks out that measures of insurance companies that are directed at increase of profitability of investments require from them both significant expenditures on creation of the system of investment risk management and open access to different categories of financial assets and markets, which influences the general risk level, taken upon by an insurance company. The author draws a conclusion that, taking into account recent developments, European insurers should focus on equity and investment risk management, finding new possibilities for their (investments growth and also adaptation of new systems and operations for solution of these important tasks.

  11. Energy conservation assessment of fixed-asset investment projects: An attempt to improve energy efficiency in China

    International Nuclear Information System (INIS)

    Hu Yuan

    2012-01-01

    Fast economic growth in China has generated energy and environmental problems. Fixed-asset investments have contributed significantly to energy consumption. In China, an energy conservation assessment (ECA), a mechanism similar to the existing environmental impact assessment (EIA), has been applied to improve the energy efficiency of new fixed-asset investment projects. In this paper the origin and development of the ECA system is analyzed and the major features of ECA are discussed. To identify the success and failure of the ECA system, case studies are analyzed and comparison between ECA and EIA, which has been used in China for over 30 years, is made. Based on the analysis, recommendations are provided for the improvement of the ECA system in China. Despite the ECA system only being established for a relatively short time, it has clearly achieved significant success. With further efforts it could play an important role in achieving the goals of improving China’s energy efficiency and reducing green house gas emissions. - Highlights: ► We examine origin and development of energy conservation assessment (ECA) in China. ► ECA has great potential in energy efficiency improvement and GHGs reduction. ► Compared with EIA, ECA is still in its early stages. More efforts are needed. ► Improvements of legal system, assessment procedure, etc. are essential for next step.

  12. Factors influencing energy efficiency investments in existing Swedish residential buildings

    Energy Technology Data Exchange (ETDEWEB)

    Nair, Gireesh; Gustavsson, Leif; Mahapatra, Krushna [Ecotechnology, Mid Sweden University, SE-83125 Oestersund (Sweden)

    2010-06-15

    We used the data from a survey conducted in 2008 of 3,000 owners of detached houses to analyse the factors that influence the adoption of investment measures to improve the energy efficiency of their buildings. For the majority of Swedish homeowners, it was important to reduce their household energy use, and most of them undertook no-cost measures as compared to investment measures. Personal attributes such as income, education, age and contextual factors, including age of the house, thermal discomfort, past investment, and perceived energy cost, influence homeowners' preference for a particular type of energy efficiency measure. The implications for promoting the implementation of energy efficiency investment measures are discussed. (author)

  13. Efficient pricing and investment in electricity markets with intermittent resources

    International Nuclear Information System (INIS)

    Chao, Hung-po

    2011-01-01

    Facing growing technological and environmental challenges, the electricity industry needs effective pricing mechanism to promote efficient risk management and investment decisions. In a restructured electricity market with competitive wholesale prices and traditionally regulated retail rates, however, there are technical and institutional barriers that prevent dynamic pricing with price responsive demand. In regions with limited energy storage capacity, intermittent renewable resources present special challenges. This could adversely affect the effectiveness of public policies causing inefficient investments in energy technologies. In this paper, we present an updated economic model of pricing and investment in restructured electricity market and use the model in a simulation study for an initial assessment of renewable energy strategy and alternative pricing mechanisms. A key objective of the study is to shed light on the policy issues so that effective decisions can be made to improve efficiency. - Highlights: → Renewable resources present special challenges in regions with limited energy storage capacity. → This paper presents an updated economic model of pricing and investment in restructured electricity market. → A simulation study assesses renewable energy strategy and alternative pricing mechanisms. → The study results inform policy decisions to improve efficient investments in energy technologies.

  14. Marginal costs and co-benefits of energy efficiency investments

    International Nuclear Information System (INIS)

    Jakob, Martin

    2006-01-01

    Key elements of present investment decision-making regarding energy efficiency of new buildings and the refurbishment of existing buildings are the marginal costs of energy efficiency measures and incomplete knowledge of investors and architects about pricing, co-benefits and new technologies. This paper reports on a recently completed empirical study for the Swiss residential sector. It empirically quantifies the marginal costs of energy efficiency investments (i.e. additional insulation, improved window systems, ventilation and heating systems and architectural concepts). For the private sector, first results on the economic valuation of co-benefits such as improved comfort of living, improved indoor air quality, better protection against external noise, etc. may amount to the same order of magnitude as the energy-related benefits are given. The cost-benefit analysis includes newly developed technologies that show large variations in prices due to pioneer market pricing, add-on of learning costs and risk components of the installers. Based on new empirical data on the present cost-situation and past techno-economic progress, the potential of future cost reduction was estimated applying the experience curve concept. The paper shows, for the first time, co-benefits and cost dynamics of energy efficiency investments, of which decision makers in the real estate sector, politics and administrations are scarcely aware

  15. Energy efficient policy impact in India: case study of investment in industrial energy efficiency

    International Nuclear Information System (INIS)

    Yang, M.

    2006-01-01

    The objective of this paper is to identify the effectiveness of energy policy and capital investment in energy efficiency technologies in the industrial sector in India. Indian energy policies relating to industrial energy efficiency over the past 25 years are briefly reviewed, and a comparison study of these energy efficiency policies and strategies in India and China has been carried out. Interviews were conducted with a number of government policy-making institutions and a national industrial development bank. The accounts of 26 industrial enterprises which applied and used a loan of the Asian Development Bank were audited for data collection. Field-visits to seven industrial entrepreneurs were undertaken in a case study. Methodologies used in this study include documentation, cross-country reviews on energy policies, questionnaire design and distribution in the industrial sector, and on-site auditing of energy efficiency technologies. This paper concludes that current energy policies and strategies in India need further improvement to promote energy efficiency investment and energy efficiency technology development in the industrial sector. This paper will interest those policy makers and industrial entrepreneurs who are willing to finance energy efficiency projects and improve energy efficiency in the industrial sector. (author)

  16. Energy efficiency policy impact in India: case study of investment in industrial energy efficiency

    International Nuclear Information System (INIS)

    Yang Ming

    2006-01-01

    The objective of this paper is to identify the effectiveness of energy policy and capital investment in energy efficiency technologies in the industrial sector in India. Indian energy policies relating to industrial energy efficiency over the past 25 years are briefly reviewed, and a comparison study of these energy efficiency policies and strategies in India and China has been carried out. Interviews were conducted with a number of government policy-making institutions and a national industrial development bank. The accounts of 26 industrial enterprises which applied and used a loan of the Asian Development Bank were audited for data collection. Field-visits to seven industrial entrepreneurs were undertaken in a case study. Methodologies used in this study include documentation, cross-country reviews on energy policies, questionnaire design and distribution in the industrial sector, and on-site auditing of energy efficiency technologies. This paper concludes that current energy policies and strategies in India need further improvement to promote energy efficiency investment and energy efficiency technology development in the industrial sector. This paper will interest those policy makers and industrial entrepreneurs who are willing to finance energy efficiency projects and improve energy efficiency in the industrial sector

  17. ECONOMIC AND SOCIAL EFFICIENCY OF PROPERTY INVESTMENTS

    Directory of Open Access Journals (Sweden)

    Florina Oana Virlanuta

    2014-03-01

    Full Text Available Investments play a key part within the goods and services industry, consumerism and community as well. The effects generated by any investment project substantiate this statement, regardless the sector of activity in which they are implemented. In the current market economy, economic efficiency indicators are playing an important role in assessing and analyzing an investment project since due to these indicators, the investor can become aware of the most important aspects they need to respond promptly. In this respect, we conducted a market analysis of real estate investments in Romania, highlighting economic and social efficiency of property investments.

  18. Renewable portfolio standards and cost-effective energy-efficiency investment

    International Nuclear Information System (INIS)

    Mahone, A.; Woo, C.K.; Williams, J.; Horowitz, I.

    2009-01-01

    Renewable portfolio standards (RPSs) and mandates to invest in cost-effective energy efficiency (EE) are increasingly popular policy tools to combat climate change and dependence on fossil fuels. These supply-side and demand-side policies, however, are often uncoordinated. Using California as a case in point, this paper demonstrates that states could improve resource allocation if these two policies were coordinated by incorporating renewable-energy procurement cost into the cost-effectiveness determination for EE investment. In particular, if renewable energy is relatively expensive when compared to conventional energy, increasing the RPS target raises the cost-effective level of EE investment

  19. Stochastic assessment of investment efficiency in a power system

    International Nuclear Information System (INIS)

    Davidov, Sreten; Pantoš, Miloš

    2017-01-01

    The assessment of investment efficiency plays a critical role in investment prioritization in the context of electrical network expansion planning. Hence, this paper proposes new criteria for the cost-efficiency investment applied in the investment ranking process in electrical network planning, based on the assessment of the new investment candidates impact on active-power losses, bus voltages and line loadings in the network. These three general criteria are chosen due to their strong economic influence when the active-power losses and line loadings are considered and due to their significant impact on quality of supply allowed for the voltage profile. Electrical network reliability of supply is not addressed, since, this criterion has already been extensively applied in other solutions regarding investment efficiency assessment. The proposed ranking procedure involves a stochastic approach applying the Monte Carlo method in the scenario preparation. The number of scenarios is further reduced by the K-MEANS procedure in order to speed up the investment efficiency assessment. The proposed ranking procedure is tested using the standard New England test system. The results show that based on the newly involved investment assessment criteria indices, system operators will obtain a prioritized list of investments that will prevent excessive and economically wasteful spending. - Highlights: • Active-Power Loss Investment Efficiency Index LEI. • Voltage Profile Investment Efficiency Index VEI. • Active-Power Flow Loading Mitigation Investment Efficiency Index PEI. • Optimization model for network expansion planning with new indices.

  20. Promoting energy efficiency investments with risk management decision tools

    International Nuclear Information System (INIS)

    Jackson, Jerry

    2010-01-01

    This paper reviews current capital budgeting practices and their impact on energy efficiency investments. The prevalent use of short payback 'rule-of-thumb' requirements to screen efficiency projects for risk is shown to bias investment choices towards 'sure bet' investments bypassing many profitable efficiency investment options. A risk management investment strategy is presented as an alternative to risk avoidance practices applied with payback thresholds. The financial industry risk management tool Value-at-Risk is described and extended to provide an Energy-Budgets-at-Risk or EBaR risk management analysis to convey more accurate energy efficiency investment risk information. The paper concludes with recommendations to expand the use of Value-at-Risk-type energy efficiency analysis.

  1. Efficiency improvement of the investment and innovation activities in the transport facility construction field with public-private partnership involvement

    Science.gov (United States)

    Shibayeva, Marina; Serebryakova, Yelena; Shalnev, Oleg

    2017-10-01

    Growing demand to increase the investment volume in modernization and development projects for transport infrastructure define the urgency of the current study. The amount of private sector investments in the field is insufficient to implement the projects for road construction due to their significant capital intensity and long payoff period. The implementation of social significant infrastructure projects on the principles of public-private partnership is one of the key strategic directions of growth for transport facilities. The authors come up with a concept and methodology for modeling the investment and innovation activity in the transport facility construction. Furthermore, there is developed a model to find the balance between public and private sector investments in implementing construction projects for transport infrastructure with involvement of PPP (further - public-private partnership). The suggested concepts aim to improve the efficiency rate of the investment and innovation activity in the field of transport facility construction on the basis of public and private sectors collaboration.

  2. Economic Efficiency and Investment Implementation in Energy Saving Projects

    Directory of Open Access Journals (Sweden)

    Venelin Terziev

    2017-09-01

    Full Text Available Investment in building thermoinsulation is a subject to appraisal for efficiency from the position of discounted cash flows taken specifically by energy saving. The appraisal of investment as optimal is attended by achieving the shortest term for investment implementation, the lowest investment outlays, the maximum total net value of energy savings, the shortest investment payback period. The complex application of the dynamic methods for appraising economic efficiency of an investment – net present value, internal rate of return, profitability index and discounted payback period, involves drawing of particular values which comparison definitely will show if this kind of investment is practically “attractive”. However, the question for significance weight of each of these indicators above in decision making for implementation a particular real investment still remains unsolved. This requires working out a system of criteria, priorities that can determine which of the indicators for economic efficiency of specific investment project will have the highest significance.

  3. Prerequisites to promote energy efficiency investments in Bulgaria

    International Nuclear Information System (INIS)

    Boernsen, O.

    1994-01-01

    The PHARE Energy Programme's team observation and advice to the Committee of Energy in Bulgaria are outlined. In comparison to the Western European countries energy intensity in Bulgaria is 2-3 times higher. It is explained by the energy intensive industrial structure and the old and depreciated capital equipment. Cost-covering energy prices would make energy efficiency investment financially feasible and would attract financiers. But the lesson from Western European experience is that availability of finance capital and cost reflecting energy prices is not at all a necessary prerequisite for energy efficiency improvement. This improvement can be achieved with no cost or low cost measures. The potential for energy efficiency in industry (consuming more than 50% of the energy) is 11%-20%; in buildings - 6%; in transport - 4%. There are other obstacles, as lack of information, other business interests and no internal expertise, especially for small and medium size industries. The basic prerequisite to improve energy efficiency is raising of awareness and change of management culture, as well as radical change in organisational and management structures. (orig.)

  4. Impacts of foreign direct investment on efficiency in Swedish manufacturing.

    Science.gov (United States)

    Svedin, Dick; Stage, Jesper

    2016-01-01

    A number of studies have found that foreign direct investment (FDI) can have positive impacts on productivity. However, while FDI has clearly positive impacts on technology transfers, its effects on resource use within firms is less clear and, in principle, efficiency losses might offset some of the productivity gains associated with improved technologies. In this paper, we study the impacts of FDI on efficiency in Swedish manufacturing. We find that foreign ownership has positive impacts on efficiency, supporting the earlier findings on productivity.

  5. DTU International Energy Report 2012: Energy efficiency improvements

    DEFF Research Database (Denmark)

    Increased energy efficiency can reduce global CO2 emissions over the period to 2050 with up to 25%. On the top of that large profits can be gained for very little investment. Energy efficiency improvements can save investment in new energy infrastructure, cut fuel costs, increase competitiveness...... and increase consumer welfare. Thus, it is natural for DTU International Energy Report 2012 to take up this issue and analyze the global, regional and national challenges in exploiting energy efficiency and promote research and development in energy efficiency....

  6. Mechanisms for efficient investments and optimal zones in regional power market

    Directory of Open Access Journals (Sweden)

    Andročec Ivan

    2014-01-01

    Full Text Available The paper is result of research different cross-border electricity trading mechanisms impact. Focus is on investments in generation and transmission power system facilities in regional market. Assumptions include efficient market coupling mechanism (with more bidding zones, use of additional investment indicators (like social welfare and congestion cost and security of supply issues (capacity mechanisms. There is discussion on cost benefits analysis for particular market participants and there is possibility of risk reduction for regional power system expansion. It is shown current state-of-the-art, problems and trends in solving some aspects of market integration and investment issues. In some cases smaller and well defined bidding areas are absolutely essential in order to ensure system security and economic efficiency. There is no single criterion for power system expansion but it is possible to use combination of incentive schemes and possible through one index for cross-border trade. Risk management for cross-border electricity trading through several areas needs to be upgraded with use of financial transmission rights like weighted average area prices, respectively. Regional power system security is closely associated with timely investments in energy supply in line with economic development and environmental needs. Security of supply indicator is deriving an estimation of security of supply improvement from the market based simulation results when a generation or transmission investment project is implemented. All researched makes market integration and investments in Europe more efficient and gives more correct signals to market participants in regional market.

  7. Industrial energy efficiency: the need for investment decision support from a manager perspective

    International Nuclear Information System (INIS)

    Sandberg, Peter; Soederstroem, Mats

    2003-01-01

    Global competition, commitment to the Kyoto Protocol and a deregulated, integrated European electricity market will in all probability increase the demand for energy efficiency on the part of companies in Sweden. Investment decisions are an important part of meeting the new demands, because they decide the future efficiency of industrial energy systems. The objective of this study is to investigate, from a managerial perspective, the need to improve decision support in some industries, which can help to facilitate and improve investment decisions concerning energy efficiency. This work has been conducted through in-depth interviews with representatives for a number of energy-intensive companies and non-energy-intensive companies from different sectors. One need that was identified was the improvement of working methods in order to support the decision-making process. Here, external players seem to be playing an increasingly important role. Access to correct information, better follow-up activities, and transparent, understandable calculations are also considered to be important. The study will form the foundation for subsequent work on decision support and energy efficiency in industry

  8. Investment utilisation, adjustment costs, and technical efficiency in Danish pig farms

    DEFF Research Database (Denmark)

    Olsen, Jakob Vesterlund; Henningsen, Arne

    In this paper, we present a theoretical model for adjustment costs and investment utilisation that illustrates their causes and types and shows in which phases of an investment they occur. Furthermore, we develop an empirical framework for analysing the size and the timing of adjustment costs...... that investments have a negative effect on farm efficiency in the year of the investment and the year after accruing from adjustment costs. There is a large positive effect on efficiency two and three years after the investment. The farmer’s age and the farm size significantly influence technical efficiency......, as well as the effect of investments on adjustment costs and investment utilisation. These results are robust to different ways of measuring capital....

  9. Investing in efficient industrial boiler systems in China and Vietnam

    International Nuclear Information System (INIS)

    Yang Ming; Dixon, Robert K.

    2012-01-01

    Energy efficiency in industrial boiler steam systems can be very low due to old technologies, improper design and non-optimal operation of the steam systems. Solutions include efficiency assessments and investments in steam system optimizations, education and training for operators of the systems. This paper presents case studies on assessing and investing in boiler steam systems in China and Vietnam. Methodologies and approaches for data collection and analyses were designed specifically for each of the two countries. This paper concludes: (1) investing in energy efficiency in industrial boiler steam system in China and Vietnam are cost effective; (2) government should not sent national energy efficiency standards lower than that of energy companies or energy equipment manufactures. - Highlights: ► GEF successfully catalyzed investment in industrial energy efficiency boilers in China in 1990s. ► With about $100 million of investment by the GEF/World Bank/Chinese government, the project will mitigate 40 million tons of CO 2 by 2019. ► This generated lowest unit cost of carbon reduction in the world: about $2.5 per ton of CO 2 mitigation. ► Investing in energy efficiency in industrial boiler steam system today in Vietnam will be the same cost effective as in China: $2.1 per ton of CO 2 mitigation.

  10. Financial Reporting Quality, Free Cash Flow, and Investment Efficiency

    Directory of Open Access Journals (Sweden)

    Wang Fusheng

    2015-01-01

    Full Text Available This paper based on the perspective of firm’s agency conflicts to examine the relationship between financial reporting quality and investment efficiency and to analyze the interaction effect between financial reporting and free cash flow on investment efficiency. We use 3,726 samples of Chinese listed firms during the period 2008–2012 to test the empirical models and find that financial reporting quality is negatively associated with both underinvestment and overinvestment. Further, we find that financial reporting quality is more strongly associated with overinvestment for firms with large free cash flow, which suggests that financial reporting quality can reduce information asymmetry arising from agency conflicts between the managers and investors. This paper extends the field of application of financial reporting quality and investment efficiency in the emerging capital markets in the world. Moreover, this is the first study that analyzes the interaction effect between financial reporting quality and free cash flow on investment efficiency.

  11. Market conditions affecting energy efficiency investments

    International Nuclear Information System (INIS)

    Seabright, J.

    1996-01-01

    The global energy efficiency market is growing, due in part to energy sector and macroeconomic reforms and increased awareness of the environmental benefits of energy efficiency. Many countries have promoted open, competitive markets, thereby stimulating economic growth. They have reduced or removed subsidies on energy prices, and governments have initiated energy conservation programs that have spurred the wider adoption of energy efficiency technologies. The market outlook for energy efficiency is quite positive. The global market for end-use energy efficiency in the industrial, residential and commercial sectors is now estimated to total more than $34 billion per year. There is still enormous technical potential to implement energy conservation measures and to upgrade to the best available technologies for new investments. For many technologies, energy-efficient designs now represent less than 10--20% of new product sales. Thus, creating favorable market conditions should be a priority. There are a number of actions that can be taken to create favorable market conditions for investing in energy efficiency. Fostering a market-oriented energy sector will lead to energy prices that reflect the true cost of supply. Policy initiatives should address known market failures and should support energy efficiency initiatives. And market transformation for energy efficiency products and services can be facilitated by creating an institutional and legal structure that favors commercially-oriented entities

  12. Measuring the Socioeconomic and Environmental Effects of Energy Efficiency Investments for a More Sustainable Spanish Economy

    Directory of Open Access Journals (Sweden)

    Ana Medina

    2016-10-01

    Full Text Available We present here an application of a multisector economic model to simulate the impact of investing in energy-efficiency-related sectors. Given the value chain of energy production shows several aspects to be improved, this paper intends to identify the economic sectors where investment should be allocated in order to reach the targeted energy efficiency levels in the overall economic system. We expect that an improvement in energy efficiency will bring a fall in electricity demand. Simulating these impacts will enable an assessment of the macroeconomic effects of such demand-side changes in Spain. For simulation purposes, we will use input–output methodology, based on data from a Spanish input–output table from the year 2012 that we have constructed. The scenario used for modeling has been obtained from the objectives proposed by the European Union for 2030, specifically the one promoting an increase to at least a 27% increase in energy efficiency compared with the business-as-usual scenario. This demand-side model enables us to measure the potential sector-by-sector growth of the Spanish economy and to calculate households’ expected savings in energy bills due to the implementation of energy efficiency measures. The impacts of employment and CO2 emissions are also quantified as a result of the investments aimed at improving energy efficiency.

  13. Aligning Utility Incentives with Investment in Energy Efficiency

    Science.gov (United States)

    Describes the financial effects on a utility of its spending on energy efficiency programs, how those effects could constitute barriers to more aggressive and sustained utility investment in energy efficiency.

  14. How the world should invest in energy efficiency

    International Nuclear Information System (INIS)

    Farrell, D.; Remes, J.K.

    2008-01-01

    A program that targets cost-effective opportunities in energy productivity could halve the growth in energy demand, cut emissions of greenhouse gases, and generate attractive returns. Boosting energy efficiency will help stretch energy resources and slow down the increase in carbon emissions. It will also create opportunities for businesses and consumers to invest 170 billion USD a year from now until 2020, at a 17 percent average internal rate of return. However, a wide range of information gaps, market failures, and policy imperfections could slow the pace of investment. Public- and private-sector leaders can encourage higher energy productivity by setting efficiency standards for appliances and equipment, financing energy efficiency upgrades, raising corporate standards for energy efficiency, and collaborating with energy intermediaries

  15. Energy efficiency in existing buildings: investment gap, incentives and supporting measures

    International Nuclear Information System (INIS)

    Varenio, Celine

    2012-01-01

    This PhD dissertation focuses on energy efficiency policies in housing. It aims at evaluating the effectiveness of public incentives designed to increase household's investment in energy efficiency of their dwelling. To reach this objective this research combines the two key dimensions of ex-post evaluation, i.e. summary and formative dimensions. The first one aims at knowing the effectiveness of public policies whereas the other one targets to understand what the public policies' consequences are and to identify ways for improvement. To reach this purpose, the research follows four steps. Firstly, it requires a detailed analysis to understand the origins of the energy efficiency gap. This gap can be explained by markets failures, consequences of bounded rationality and coordination problem between stakeholders, especially in multi-family dwellings. Secondly, the argument progresses by drawing a parallel between results from normative analysis and from observations of actual level of investments in thermal retrofit actions. It aims at identifying investment households' criteria and then at understanding how barriers to energy efficiency raise. Thirdly, thanks to the inventory of these various energy efficiency barriers it becomes possible to examine if the incentives currently implemented in France can remove them all. It appears that the national policy does not significantly reduce the energy efficiency gap. On the one hand, some barriers remain because no tool has been proposed to overcome them. On the other hand, some barriers are only partially eliminated because the practical use of tools differs from their theoretical design. Finally, using the analysis of retrofitting programs implemented on the Grenoble area this research assesses the effectiveness of additional incentives. The objective is to know to what extent these 'reinforced' policies remove barriers still existing after national tools implementation. From these four

  16. Valuing uncertain cash flows from investments that enhance energy efficiency.

    Science.gov (United States)

    Abadie, Luis M; Chamorro, José M; González-Eguino, Mikel

    2013-02-15

    There is a broad consensus that investments to enhance energy efficiency quickly pay for themselves in lower energy bills and spared emission allowances. However, investments that at first glance seem worthwhile usually are not undertaken. One of the plausible, non-excluding explanations is the numerous uncertainties that these investments face. This paper deals with the optimal time to invest in an energy efficiency enhancement at a facility already in place that consumes huge amounts of a fossil fuel (coal) and operates under carbon constraints. We follow the Real Options approach. Our model comprises three sources of uncertainty following different stochastic processes which allows for application in a broad range of settings. We assess the investment option by means of a three-dimensional binomial lattice. We compute the trigger investment cost, i.e., the threshold level below which immediate investment would be optimal. We analyze the major drivers of this decision thus aiming at the most promising policies in this regard. Copyright © 2012 Elsevier Ltd. All rights reserved.

  17. Stimulating Investments in Energy Efficiency Through Supply Chain Integration

    Directory of Open Access Journals (Sweden)

    Beatrice Marchi

    2018-04-01

    Full Text Available Attention to energy efficiency is recently experiencing substantial growth. To overcome the several barriers currently existing that represent an obstacle to the successful implementation of the wide set of energy efficiency measures available, the cooperation among members of a supply chain offers a huge potential. In supply chains, in addition to the traditional coordination of the operations, the members may also share financial resources or act jointly on the capital market. This study presents a two-stage supply chain model considering the opportunity to invest in new energy efficient technologies which are affected by learning effects: the member of the supply chain with better energy performance and/or better financial conditions may find it more profitable to invest in the development of the energy efficiency of its partner. The objective of the model is to determine the optimal investment for each supply chain member so as to maximize the Net Present Value of the supply chain. The impacts of the proposed joint decision-making are investigated through some numerical analysis and managerial insights are proposed: the joint decision-making process on the financial flows for the energy efficiency investments results are especially advantageous (up to a 20% increase of the supply chain Net Present Value when members have different access to capital, which could be the result of different economic conditions in companies’ countries, as well as different credit policies or different credit ratings.

  18. Energy efficiency improving opportunities in a large Chinese shoe-making enterprise

    International Nuclear Information System (INIS)

    Ming Yang

    2010-01-01

    Energy consumption and energy intensity reduction opportunities are quite different from one enterprise to another. It is necessary to understand how much energy is used at individual enterprise, where the most energy is consumed and what the best opportunities are to invest in energy efficiency. Auditing energy efficiency was recently undertaken in one of the top 1000 largest Chinese enterprises. The objectives of this paper are to fill a gap in the literature of auditing energy efficiency for a Chinese manufacturing enterprise and to share the audited energy efficiency results. This paper concludes that if the enterprise invests USD 1.9 million to improve energy efficiency, the investment will be recovered in about 18 months. The net present value of the investment would be about USD 9.8 million at a discount rate of 12%. The investment will reduce a large amount of energy consumption at the enterprise based on its figures in 2008, including 15% of electricity, 40% of fuel oil, and 54% of diesel. Carbon reduction is also very cost-effective. Investment of one dollar in the enterprise will help cut carbon emission by 7.95 kg per year and generate $5.3 net revenue in the economic lifetime of the invested technology.

  19. Energy Technology Investments: Maximizing Efficiency Through a Maritime Energy Portfolio Interface and Decision Aid

    Science.gov (United States)

    2012-02-09

    Investment (ROI) and Break Even Point ( BEP ). These metrics are essential for determining whether an initiative would be worth pursuing. Balanced...is Unlimited Energy Decision Framework Identify Inefficiencies 2. Perform Analyses 3. Examine Technology Candidates 1. Improve Energy...Unlimited Energy Decision Framework Identify Inefficiencies 2. Perform Analyses 3. Examine Technology Candidates 1. Improve Energy Efficiency 4

  20. Does Investment Treaty Affect the Improvement on FDI?

    OpenAIRE

    Eunsook Seo

    2008-01-01

    The paper analyzes how investment treaty affects investment creation. Analysis results show that investment treaty could not directly affect the increase in investment with the form of investment agreement contradicting and the opening of investment treaty countries have increased a great deal of investment. Contracting the investment agreement means to ultimately improve the investment environment such as policy transparency, simplification of administration, and the simplification or the cl...

  1. Investment incentives, corporate taxation, and efficiency in the allocation of capital

    Energy Technology Data Exchange (ETDEWEB)

    Boadway, R

    1978-09-01

    The author shows that, within the strict confines of the neoclassical theory of investment, investment allowances and tax credits on gross investment over and above regular depreciation are efficient investment incentives in the sense that they do not distort the allocation of capital over investments of differing durabilities. Initial allowances, tax credits on net investments, tax credits on gross investment which are set against depreciation, and interest subsidies all distort investment decisions in favor of longer-lived investments. Accelerated depreciation schemes are generally distortionary as well, with the nature of the distortion depending upon how the tax depreciation rate is defined.

  2. THE INFLUENCE OF THE ENTERPRISE LIFE CYCLE ON THE EFFICIENCY OF INVESTMENT

    Directory of Open Access Journals (Sweden)

    Viktor Koval

    2017-12-01

    Full Text Available The article presents results of the study of relations between the enterprise life cycle and the efficiency of investment in the context of dynamic, rapid changes in the conditions of enterprises operation and development. It is determined that one of the main factors of success is the introduction of innovative technologies in the production process, which cannot be carried out without attracting investments. It is the investment activity of enterprises that determines the dynamics of their development, the level of competitiveness and the growth of productive resources, which affects the efficiency of their activities. It is proved that it is relevant to take into account the possible negative effects of the influence of factors divergence. The purpose of the study is to analyse possibilities of determining the impact of life cycle stages on the efficiency of investing in an enterprise. The methodological basis of the research is grounded on the general scientific methods of dialectics, observation, measurement, and formalization; methods of the system and statistical analysis. In particular, to determine the influence of internal factors on the indicators of the efficiency of investment activity of the enterprise at the stages of its life cycle, deterministic factor analysis is applied; methods of systematization and synthesis, analysis and synthesis are also used. It is determined that the construction industry plays a special role in the national economy since its development creates a synergistic effect for the development of other industries, increases the standard of living of the society through solving certain socioeconomic problems. The analytical data of construction enterprises activity in Dnipropetrovsk and Odesa regions of Ukraine became the basis for the approbation of the proposed approach. The use of the life cycle model of the enterprise, which includes the stage of growth (slow and rapid growth, stability stage and the stage

  3. Process improvement as an investment: Measuring its worth

    Science.gov (United States)

    Mcgarry, Frank; Jeletic, Kellyann

    1993-01-01

    This paper discusses return on investment (ROI) generated from software process improvement programs. It details the steps needed to compute ROI and compares these steps from the perspective of two process improvement approaches: the widely known Software Engineering Institute's capability maturity model and the approach employed by NASA's Software Engineering Laboratory (SEL). The paper then describes the specific investments made in the SEL over the past 18 years and discusses the improvements gained from this investment by the production organization in the SEL.

  4. A two-factor method for appraising building renovation and energy efficiency improvement projects

    International Nuclear Information System (INIS)

    Martinaitis, Vytautas; Kazakevicius, Eduardas; Vitkauskas, Aloyzas

    2007-01-01

    The renovation of residential buildings usually involves a variety of measures aiming at reducing energy and building maintenance bills, increasing safety and market value, and improving comfort and aesthetics. A significant number of project appraisal methods in current use-such as calculations of payback time, net present value, internal rate of return or cost of conserved energy (CCE)-only quantify energy efficiency gains. These approaches are relatively easy to use, but offer a distorted view of complex modernization projects. On the other hand, various methods using multiple criteria take a much wider perspective but are usually time-consuming, based on sometimes uncertain assumptions and require sophisticated tools. A 'two-factor' appraisal method offers a compromise between these two approaches. The main idea of the method is to separate investments into those related to energy efficiency improvements, and those related to building renovation. Costs and benefits of complex measures, which both influence energy consumption and improve building constructions, are separated by using a building rehabilitation coefficient. The CCE is used for the appraisal of energy efficiency investments, while investments in building renovation are appraised using standard tools for the assessment of investments in maintenance, repair and rehabilitation

  5. Cost Efficiency and Returns to Scope in Italian Investment Firms

    OpenAIRE

    Marcello Basili; Fulvio Fontini

    2005-01-01

    This paper estimates cost efficiency and returns to scope of Italian investment firms during the period 1998-2002, following the stochastic frontier function approach. Results indicate a large inefficiency for Italian investment firms (with a high standard deviation across sample) and the absence of significant returns to scope

  6. Energy efficiency improvements in ammonia production--perspectives and uncertainties

    International Nuclear Information System (INIS)

    Rafiqul, Islam; Weber, Christoph; Lehmann, Bianca; Voss, Alfred

    2005-01-01

    The paper discusses the energy consumption and energy saving potential for a major energy-intensive product in the chemical industry-ammonia, based on technologies currently in use and possible process improvements. The paper consists of four parts. In the first part, mainly references to various ammonia production technologies are given. Energy consumption, emissions and saving potentials are discussed in the second part. Thereby, the situation in Europe, the US and India is highlighted and various data sources are compared. In the third part of the paper, a novel approach for modeling energy efficiency improvements is described that accounts for uncertainties and unobserved heterogeneity in the production processes. Besides new investments, revamping investments are also included in the modeling and the development of the production stock is accounted for. Finally, in the fourth part, this approach is applied to the modeling of energy efficiency improvements and CO 2 emission reductions in ammonia production. Thereby, considerable improvements in specific energy use and CO 2 emissions are found in the reference scenario, yet under the assumption of high oil and gas prices, a partial switch to coal based technologies is expected which lowers notably the CO 2 efficiency. Introduction of a CO 2 penalty under a certificate trading or other regime is on contrary found to foster energy efficiency and the use of low carbon technologies

  7. How high are option values in energy-efficiency investments?

    International Nuclear Information System (INIS)

    Sanstad, A.H.; Blumstein, C.; Stoft, S.E.; California Univ., Berkeley, CA,

    1995-01-01

    High implicit discount rates in consumers' energy-efficiency investments have long been a source of controversy. In several recent papers, Hassett and Metcalf argue that the uncertainty and irreversibility attendant to such investments, and the resulting option value, account for this anomalously high implicit discounting. Using their model and data, we show that, to the contrary, their analysis falls well short of providing an explanation of this pattern. (author)

  8. Energy investments and employment

    International Nuclear Information System (INIS)

    1993-08-01

    A study was conducted to assess the effect that different energy options would have on provincial and regional employment prospects in British Columbia. Current and future economic and employment patterns were examined to develop a more detailed understanding of the skills, age, gender, location, and other characteristics of British Columbia workers. Over 40 previous studies examining the energy/employment relationship were also reviewed. Based on this review and an analysis of the province's economic and labor conditions, the following conclusions are drawn. Investment in non-energy sectors offers better prospects for reducing unemployment than investment in the energy sector, whether for new supply or improving efficiency. Investments in the energy sector provide fewer jobs than investments in most other sectors of the economy. Among the available electricity supply options, large hydroelectric projects tend to produce the fewest jobs per investment dollar. Smaller thermal projects such as wood residue plants produce the most jobs. If and when more energy is needed in British Columbia, the most cost-effective combination of energy supply and efficiency options will also create the most jobs. Compared to traditional energy supply options, investments in energy efficiency would create about twice as many total jobs, create jobs that better match the skills of the province's unemployed and its population distribution, and create jobs that last longer on the average. Construction-related measures such as improved insulation tend to produce more jobs per investment dollar than the substitution of more energy-efficient equipment. 69 refs., 9 tabs

  9. Foreign Direct Investment and its Spillover Efficiency in China

    OpenAIRE

    劉, 黄金

    2004-01-01

    In this paper, we review the development process and its characteristics of inward foreign direct investment (FDI) in China. Using the latest data of Jiangsu province, we test the spillover efficiency of FDI. We find that FDI has spillover efficiency in Jiangsu's economy, but the smaller the technology gap between domestic and foreign enterprises, the larger the spillovers.

  10. Mobilising Investment in Energy Efficiency

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-07-01

    Taxes, loans and grants, trading schemes and white certificates, public procurement and investment in R&D or infrastructure: known collectively as 'economic instruments', these tools can be powerful means of mobilising the finances needed to achieve policy goals by implementing energy efficiency measures. The role of economic instruments is to kick-start the private financial markets and to motivate private investors to fund EE measures. They should reinforce and promote energy performance regulations. This IEA analysis addresses the fact that, to date, relatively little effort has been directed toward evaluating how well economic instruments work. Using the buildings sector to illustrate how such measures can support energy efficiency, this paper can help policy makers better select and design economic instruments appropriate to their policy objectives and national contexts. This report’s three main aims are to: 1) Examine how economic instruments are currently used in energy efficiency policy; 2) Consider how economic instruments can be more effective and efficient in supporting low-energy buildings; and 3) Assess how economic instruments should be funded, where public outlay is needed. Detailed case studies in this report assess examples of economic instruments for energy efficiency in the buildings sector in Canada (grants), France (tax relief and loans), Germany (loans and grants), Ireland (grants) and Italy (white certificates and tax relief).

  11. 资本性投资、融资来源与营运资本投资效率研究%Capital Investment,Financing Source and Working Capital Investment Efficiency

    Institute of Scientific and Technical Information of China (English)

    魏刚

    2016-01-01

    运用异质性随机边界模型定量测算了资本性投资及融资来源影响下的营运资本投资效率。结果表明:中国上市公司营运资本投资效率低于最优效率10%~26%,在非经济危机影响的年度中,资本性投资规模增长大的企业,其营运资本投资效率较低;内部融资和外部股权融资具有缓解融资约束和降低未来融资不确定性的作用,而债务融资会加剧融资约束程度,但可以降低未来融资不确定性。融资约束程度的改善有助于降低资本性投资对营运资本投资效率的影响。%Using the heteroscedastic stochastic frontier model , this paper measures the working capital investment efficiency under the influence of capital investment and financing sources .Results show that , the efficiency of working capital invest-ment in Chinese listing corporation is lower than the optimal efficiency of 10%~26%.During the years of the non-econom-ic crisis, working capital investment efficiency of enterprises is lower , which possess a large scale of capital investment .In-ternal financing and external equity financing can alleviate the financing constraints and reduce the uncertainty of the future ;debt financing will increase the degree of financing constraints , but can reduce the uncertainty of future financing .The im-provement of financing constraints could help to reduce the impact of capital investment on the efficiency of working capital investment .

  12. Corruption and the Efficiency of Capital Investment in Developing Countries

    DEFF Research Database (Denmark)

    O’Toole, Conor M.; Tarp, Finn

    2014-01-01

    This paper tests the effect of corruption on the efficiency of capital investment. Using firm-level data from the World Bank Enterprise Surveys, covering 90 developing and transition economies, we consider whether the cost of informal bribe payments distorts the efficient allocation of capital...

  13. EFFICIENCY OF INVESTMENTS IN POLISH FARMS BEFORE AND AFTER ACCESSION TO THE EUROPEAN UNION

    Directory of Open Access Journals (Sweden)

    Roman Sass

    2017-06-01

    Full Text Available Assessment efficiency of investments realized in the years 1996–2003 with the use of the so-called preferential loans and after accession of Poland to the European Union is the purpose of this study. Using regression methods, the impact of selected elements of the production potential of farms on the value of investment expenditures after 2004 have been defined. Conclusively, the efficiency of investments was considerably higher in the pre-accession period than after accession of Poland to the European Union. It concerns both farms differing in the values of investment expenditures as well as the investment’s direction. A particular high drop in the investment’s efficiency occurred at farms investing the most in machines and equipment. The analysis of correlation with the use of the methods of regression indicates, that the area of a farm and fixed assets had a crucial impact on the value of investment expenditures in the years 2004–2011. The level of explanation of variability of investment expenditures by the production potential and factors covariant with it is high, and for the lineal function it amounts to more than 91%.

  14. The economical efficiency of private investments in higher education in Russia

    Directory of Open Access Journals (Sweden)

    Elena Maksyutina

    2011-12-01

    Full Text Available The article investigates the economical efficiency of investments in higher education in modern conditions of Russia. The beginning of the article includes a characteristic of the existing empiric research concerning the efficiency of investments in human capital assets. Further the author of the article introduces the results of pay off calculation of private investments in higher education. The result of the research was that in modern conditions of Russia investments in higher education are exceedingly advantageous. High norms of higher education feedback and short period of pay off of these investments explain the reasons of continuously growing demand for it on the part of the population, especially young people. The article proves that the level of population education in Russia is quite high, however accumulated human capital asset is used insufficiently effective. Many people with higher education are forced to take jobs not requiring higher education.  Sharp shift in educational behavior of Russian people raises new demands to labor market. Graduates of higher educational institutions, appearing on a labor market, form qualitatively different demands towards it. But tempo of Russian economics development today can not provide job positions for all graduates of higher educational institutions. That is why structural change of economics is needed.

  15. Estimating the Value of Price Risk Reduction in Energy Efficiency Investments in Buildings

    Directory of Open Access Journals (Sweden)

    Pekka Tuominen

    2017-10-01

    Full Text Available This paper presents a method for calculating the value of price risk reduction to a consumer that can be achieved with investments in energy efficiency. The value of price risk reduction is discussed to some length in general terms in the literature reviewed but, so far, no methodology for calculating the value has been presented. Here we suggest such a method. The problem of valuating price risk reduction is approached using a variation of the Black–Scholes model by considering a hypothetical financial instrument that a consumer would purchase to insure herself against unexpected price hikes. This hypothetical instrument is then compared with an actual energy efficiency investment that reaches the same level of price risk reduction. To demonstrate the usability of the method, case examples are calculated for typical single-family houses in Finland. The results show that the price risk entailed in household energy consumption can be reduced by a meaningful amount with energy efficiency investments, and that the monetary value of this reduction can be calculated. It is argued that this often-overlooked benefit of energy efficiency investments merits more consideration in future studies.

  16. Investment In Energy Efficiency: Do The Characteristics Of Firms Matter?

    OpenAIRE

    Stephen J. Decanio; William E. Watkins

    1998-01-01

    The literature on energy efficiency provides numerous examples of apparently profitable technologies that are not universally adopted. Yet according to the standard neoclassical theory of investment, profit-maximizing firms should undertake all investments with a positive net present value. The standard theory also holds that the discount rate for computing the present value of a project should be the return available on other projects in the same risk class, and therefore should not depend o...

  17. A dynamic-efficiency rationale for public investment in the health of young

    DEFF Research Database (Denmark)

    Andersen, Torben M.; Bhattacharya, Joydeep

    2014-01-01

    under dynamic efficiency and exogenous mortality even when private and public investments are perfect substitutes. If health investment reduces mortality risk but individuals do not internalize its effect on the life-annuity interest rate, the “Philipson-Becker effect” emerges; when the young are net...

  18. IMPROVING THE PROVISION OF STATE GUARANTEES UNDER CREDITS OR BONDED LOANS RAISED FOR INVESTMENT PROJECTS IMPLEMENTATION

    Directory of Open Access Journals (Sweden)

    Lola D. Sanginova

    2015-01-01

    Full Text Available Importance: Under current conditions, the Russian economy needs investment resources to ensure sustainable social and economic development. One of instruments of state-financing backing that can be used to support capital intensive, economically viable, financially and socially efficient investment projects that create "growing points" are state guarantees of theRussian Federation.Objective: The objective of this study is to identify possible ways to improve the requirements and procedures of providing state guarantees of theRussian Federationwhich contribute to the increase in the quantity and quality of investment projects of high social importance. Methods: Through the use of general scientific methods, analysis and synthesis, induction and deduction the possibility of creating a more attractive environment for principals is analyzed, measures to reduce the risk for public legal entities in providing state guarantees of theRussian Federationunder credits or bonded loans raised for investment projects implementation.Results: Principles of state guarantee support that ensure the interests of both the principals and the guarantor are defined. The basic directions for improving the mechanism how state guarantees of theRussian Federationsupport investment projects are justified. These directions include increasing availability of obtaining state guarantee support by lowering the cost of investment projects for which the state guarantees may be provided; reducing time of decision making on granting a state guarantee; increasing the creditors’ responsibility for a qualitative assessment of the creditworthiness of principals and investment projects; changing the methodology for assessing the social efficiency of investment projects; increasing the information transparency of provided state guarantees of the Russian Federation.Conclusions: The main result of this study is that under current conditions of economic turbulence state guarantees of the

  19. Identification and quantification of principal–agent problems affecting energy efficiency investments and use decisions in the trucking industry

    International Nuclear Information System (INIS)

    Vernon, David; Meier, Alan

    2012-01-01

    Energy related Principal–Agent (PA) problems cause inefficient combinations of investment, operating costs, and usage behavior. The complex market structure of the trucking industry contributes to split incentives because entities responsible for investments in energy efficiency do not always pay fuel costs and drivers are often not rewarded for fuel-efficient operation. Some contractual relationships exist in the trucking industry that hinder responses to fuel price signals. Up to 91% of total trucking fuel consumption in the U.S. is affected by “usage” PA problems, where the driver does not pay fuel costs and lacks incentive for fuel saving operation. Approximately 23% of trailers are exposed to an “efficiency problem” when owners of rented trailers do not pay fuel costs and therefore have little incentive to invest in efficiency upgrades such as improved trailer aerodynamics and reduced tire rolling resistance. This study shows that PA problems have the potential to significantly increase fuel consumption through avoided investments, insufficient maintenance, and fuel-wasting practices. Further research into the causes and effects of PA problems can shape policies to promote better alignment of costs and benefits, leading to reduced fuel use and carbon emissions. - Highlights: ► We identify and quantify principal agent market failures in the trucking industry. ► Up to 91% of truck fuel consumption is exposed to a usage principal–agent market failure. ► Twenty-three percent of trailers are exposed to an efficiency principal–agent market failure. ► These market failures at least partially insulate key decision makers from fuel price signals.

  20. IMPROVING THE QUALITY OF INVESTMENT DESIGN IN INDUSTRIAL CONSTRUCTION

    Directory of Open Access Journals (Sweden)

    I. M. Meylanov

    2017-01-01

    Full Text Available Objectives. The development of a set of practical measures in order to improve the quality of investment design in industrial construction.Methods. The basis of research comprises a project management methodology as well as methods for logical and statistical analysis of decisionmaking in investment activities.Results. A mechanism of inclusion of industrial construction objects into the Federal targeted investment programme is revealed. The sequence of the state expert evaluation of investment projects is determined, which optimises the design solutions aimed at minimising their estimated cost if the investment is made with the involvement of the Federal budget. Qualitative and quantitative criteria are systematised for the integrated assessment of the effectiveness of investment fund usage sent to industrial construction objects.Conclusion. The consistent implementation of the state investment policy is aimed at developing the scientific-technological and scientific-industrial potential of industrial construction by providing favourable conditions for effective innovation activity, selecting rational investment strategies and priority projects aimed at solving urgent problems of improving the competitiveness of construction. Successful implementation of the state investment policy in industrial construction largely depends on the effectiveness of investment design, starting from the accuracy of the formulation of the investment plan (idea, in which the interests of all participants in investment activities are concentrated and taken into account, and to the development of an agreed set of actions to complete the project. A unified register covering the data on the cost and results of investment projects is proposed to be created with the purpose of facilitating decision-making in the process of allocation of the Federal budget funds, planning of state capital investments and approval of project documentation for new industrial construction

  1. Energy upgrades as financial or strategic investment? Energy Star property owners and managers improving building energy performance

    International Nuclear Information System (INIS)

    Gliedt, Travis; Hoicka, Christina E.

    2015-01-01

    Highlights: • Energy Star property owners/managers view energy as strategic or financial investments. • Energy performance improvements and motivations differ by property type. • Energy projects are most often funded by internal cash reserves. • Motivations and funding sources differ by type of energy project. • Environmental sustainability is an important criterion in many energy projects. - Abstract: Due to its significant carbon footprint and cost-effectiveness for upgrades, the commercial property sector is important for climate change mitigation. Although barriers to energy system changes, such as funding, financing and information, are well recognized, Energy Star property owners and managers are successfully overcoming these barriers and instigating energy efficiency upgrades, renewable energy installations, and behavior and management programs. To examine the decision-making process that leads to energy performance improvements, a national survey of property owners and management organizations of buildings that earned an Energy Star score of 75 or higher was conducted. The extent to which energy upgrades were considered strategic investments motivated by environmental sustainability or corporate social responsibility, or financial investments motivated by payback period or return-on-investment criteria, was contingent upon the property type and type of energy project. Environmental sustainability was found to be an important motivation for energy projects in office spaces in general, but in the case of smaller office spaces was often combined with motivations for corporate social responsibility. Energy projects on education properties were motivated by financial investment. Building envelope and mechanical efficiency upgrades were considered financial investments, while renewable energy, green roofs, and water conservation technologies were considered environmental sustainability initiatives

  2. Energy management in the patrimonial buildings of European territorial organizations in the framework of markets liberalization. Economic study of financial incentive mechanisms in favor of energy efficiency investment

    International Nuclear Information System (INIS)

    Gayral, L.

    2005-12-01

    The territorial and patrimonial components of energy savings are not well developed because many barriers - political, organisational and financial - prevent investments in energy efficiency. Although investing in the improvement of the energy efficiency of their public buildings is a rational process, the local authorities are far from systematically carrying out this type of investment. Their limited investment capacity, associated to the lack of spare capital to finance their projects leads them to a 'vicious circle of energy wasting'. Our thesis analyzes the economic and financial tools a local authority can use to invest and enter a 'virtuous circle of energy efficiency'. Our topic deals with the financing of energy efficiency investments at a local level. We describe with details the functioning of each financial mechanism indexed. We illustrate their implementation within European municipalities through many case studies. Finally, we suggest recommendations for their broad reproducibility within French local authorities. (author)

  3. METHODICAL APPROACHES TO ASSESSMENT OF EFFICIENCY OF INVESTMENT PROJECTS OF DEVELOPMENT OF RURAL TERRITORIES

    Directory of Open Access Journals (Sweden)

    Nadejda Shatsilo

    2018-05-01

    Full Text Available The purpose is to justify the principles of assessing the effectiveness of innovation and investment projects of rural areas development on the basis of sustainability. Research methodology. In the course of the research general scientific and special methods for solving the tasks and obtaining the corresponding results were used, in particular: the method of logical analysis - in determining the factors of influence on the efficiency of investment projects; Systematization and generalization - in the synthesis of modern methodological approaches to the evaluation of innovation and investment projects of rural areas development; Abstract-logical - for theoretical generalizations and formulation of the findings of the study. Results.The principles of estimation of efficiency of innovative-investment projects are generalized. The interrelation and interdependence of goals and tasks in the development of three subsystems of sustainability have been studied, which need to be taken into account when identifying the effects arising from the implementation of investment projects. The methodological principles of evaluation of innovation-investment projects of rural areas development in conditions of observance of the requirements of sustainable development are highlighted. The deterrent factors hindering the implementation of the processes of investment of investment resources in the development of rural areas are determined. The principles of implementation of investment projects oriented on sustainable development are substantiated. Priority directions of investing resources investment in the development of rural areas on the principles of sustainability within the framework of solving economic, social and environmental problems have been identified. The mechanism of estimation of efficiency of innovative-investment project of development of rural territory in the conditions of limited financial resources is offered. It is substantiated that it is

  4. Hospital investment policy in France: pathways to efficiency and the efficiency of the pathways.

    Science.gov (United States)

    Guerrero, Isabelle; Mossé, Philippe R; Rogers, Vaughan

    2009-11-01

    This article examines the ambivalent notion of New Public Management as applied to health policy in France, by investigating the implementation of the efficiency-driven hospital investment plan, Hôpital 2012, conceived at national level, but implemented through regional hospital authorities (ARHs), with formal responsibility for selecting successful funding applications. The methodology combines qualitative and quantitative analysis, in order to highlight and explain discrepancies between goals and results. Despite formal adherence to objective efficiency indicators, certain decisions were based on incomplete information and others on considerations out with initially established criteria. Competition from the private sector was perceived as a threat to public hospitals and the public sector emerged as a major beneficiary of the investment plan. Central ministerial intervention emphasising financial and quantitative considerations led the ARHs to focus more on individual hospital performance than on wider healthcare needs. Data-production became almost an end in itself, threatening to undermine the objectives it sought to pursue. Nonetheless, extended deadlines entailed by ministerial intervention were appropriated as a resource by local actors, leading to ARH decisions which deviated from the official efficiency model, but resulted in increased effectiveness, taking fuller account of local conditions.

  5. Financial appraisal of efficiency investments. Why the good may be the worst enemy of the best

    Energy Technology Data Exchange (ETDEWEB)

    Verbruggen, A. [University of Antwerp, Prinsstraat 13, 2000 Antwerp (Belgium)

    2012-11-15

    This methodological paper has a didactic goal: improving our understanding of what 'cost optimal energy performance of buildings' means and how financial appraisal of efficiency investments must be set up. Three items merit improvement. First, focus on the endowment character of energy performance of long-living assets like buildings. Second, defining cost optimal requires more than a comparative static trade-off scheme; cost optimal refers to dynamic efficiency, which results from technology dynamics induced by changes in society and policy. Third, financial appraisal is a more complex issue than simple net present value and life cycle cost calculations. It must reflect the time sequential dynamics of real-life processes including real-life decision making. Financial appraisal is embedded in a complex framework made up by three dimensions: future time, doubt and irrevocability. The latter dimension connects with issues like lock-in and path dependency that are generally overlooked in net present value calculations. This may lead to very erroneous recommendations regarding efficiency investments, in particular regarding the energy performance endowment of buildings. Mostly irrevocability is used as an argument to 'wait and learn' what has, for example, blocked the pace of climate policy. But the opposite 'choose or lose' is the logical outcome when the methodology is fed with evidenced expectations. The latter boosts energy efficiency to its boundaries, saving it from the middle-of-the-river quagmire where incomplete appraisals are dropping it too often (making the good the worst enemy of the best)

  6. Improvement of methods of evaluation of investment projects in the context of import substitution

    Directory of Open Access Journals (Sweden)

    Kuvshinov M.S.

    2017-01-01

    Full Text Available Due to the imposition of sanctions, based more on geopolitical interests, there were additional essential restrictions on sources of external credits, use of import raw materials and technologies, possibilities of attraction to work of the qualified employees which do not have the Russian nationality, participation in the international technology and scientific projects. At similar restrictions of different resources investment decisions are made extremely carefully, and especially careful and reasonable efficiency evaluation of the investments is required. Traditionally used techniques of efficiency evaluation of investment projects not fully consider strategic interests of owners of industrial enterprises and investors. Decrease in risks requires higher quality of project evaluation. In this work the method of multi-level consistently complex integral assessment of investment projects on an indicator of the integral indicator of their efficiency implementing consecutive selection of investment projects from a portfolio on essential indicators of commercial effectiveness, efficiency of production business activities, a financial state and productivity of activity is provided. The developed method of a complex assessment of investment projects is implemented for practical application by the software product allowing to create on the basis of economic-mathematical modeling specific recommendations in economic practice of industrial enterprises during the developing and implementation of investment strategies. The conclusion that for the Russian economy in the conditions of import substitution accounting of all set of interests of investors and owners of the enterprises provides development and implementation of reasonable investment strategies is drawn.

  7. Small Businesses Save Big: A Guide to Help SBA Lenders Understand and Communicate the Value of Energy Efficiency Investments (Fact Sheet)

    Energy Technology Data Exchange (ETDEWEB)

    2015-01-01

    Dollars saved through energy efficiency can directly impact your bottom line. Whether you are planning for a major renovation or upgrading individual pieces of building equipment, these improvements can help reduce operating costs, save on utility bills, and boost profits. This fact sheet provides guidelines for SBA lenders to understand the value of financing energy efficiency investments.

  8. Comparative analysis of methodical approaches to evaluating the efficiency of investment projects in the power industry

    International Nuclear Information System (INIS)

    Tolstooukhov, D.A.; Karkhov, A.N.

    2001-01-01

    At present time, a transition is made to market mechanisms of economy functioning based on equilibrium price formation for products of enterprises and their self-financing. Based on long-term forecasts of economic development, electric power industry should not only ensure preservation of the accumulated potential but should also provide for modernization, reconstruction, service life extension of operating power facilities and construction of new ones. Under market conditions, nuclear power installations will have to prove their right to exist and develop in competition with other power technologies. In these conditions, the responsibility is growing for the correctness of investment decisions taken in the power industry and methods on which they are based. This paper analyzes currently used calculation methods for economic efficiency of investment projects. It emphasizes the limitations and drawbacks of the existing methodical approaches, and their inconsistency with market economy and scientific and technological progress (STP). The said drawbacks lead to serious mistakes in evaluating the prospects for the development of nuclear power. The paper describes a methodical approach based on equilibrium price formation that does not have the said drawbacks and may be used as the basis for further work on creation of improved calculation methods for the economic efficiency of investment projects in nuclear power. (authors)

  9. Identifying options for regulating the coordination of network investments with investments in distributed electricity generation

    International Nuclear Information System (INIS)

    Nisten, E.

    2010-02-01

    The increase in the distributed generation of electricity, with wind turbines and solar panels, necessitates investments in the distribution network. The current tariff regulation in the Dutch electricity industry, with its ex post evaluation of the efficiency of investments and the frontier shift in the x-factor, delays these investments. In the unbundled electricity industry, the investments in the network need to be coordinated with those in the distributed generation of electricity to enable the DSOs to build enough network capacity. The current Dutch regulations do not provide for a sufficient information exchange between the generators and the system operators to coordinate the investments. This paper analyses these two effects of the Dutch regulation, and suggests improvements to the regulation of the network connection and transportation tariffs to allow for sufficient network capacity and coordination between the investments in the network and in the generation of electricity. These improvements include locally differentiated tariffs that increase with an increasing concentration of distributed generators.

  10. Investment Primer for Green Revolving Funds

    Science.gov (United States)

    Weisbord, Dano

    2012-01-01

    Developing return-oriented green revolving funds (GRFs) is a rapidly growing trend at colleges and universities. A green revolving fund (GRF) is a special account designated for investment in on-campus projects that improve energy efficiency or decrease material use. GRFs invest in a variety of cost-saving initiatives, resulting in significant…

  11. Point Climat no. 27 'Unlocking private investments in energy efficiency through carbon finance'

    International Nuclear Information System (INIS)

    Shishlov, Igor; Bellassen, Valentin

    2013-01-01

    Among the publications of CDC Climat Research, 'Climate Briefs' presents, in a few pages, hot topics in climate change policy. This issue addresses the following points: According to the latest IEA World Energy Outlook, energy efficiency is a 'key option' in transition to a low-carbon economy. A decade of experience with the CDM and JI demonstrates that carbon finance can be used as an effective tool to unlock private investments in energy efficiency. Capital investments in offset projects may significantly exceed the expected carbon revenues resulting in an average weighted leverage ratio of 4:1 and 9:1 for the CDM and JI respectively, which is comparable to other international financial instruments. So far carbon finance has been used mostly for large-scale industrial energy efficiency projects in advanced developing countries and economies in transition, although it is increasingly suited to tap into scattered household energy efficiency projects

  12. Invest to Improve: The Cybersecurity Talent Deficit

    Science.gov (United States)

    Business-Higher Education Forum, 2017

    2017-01-01

    "Invest to Improve: The Cybersecurity Talent Deficit" provides recommendations for cybersecurity stakeholders--employers, government agencies, and higher education institutions--to enable regional partnerships to meet today's cybersecurity skills needs. This report combines data from a 2017 Gallup survey of business executives and higher…

  13. Potentials and policy implications of energy and material efficiency improvement

    Energy Technology Data Exchange (ETDEWEB)

    Worrell, Ernst; Levine, Mark; Price, Lynn; Martin, Nathan; van den Broek, Richard; Block, Kornelis

    1997-01-01

    There is a growing awareness of the serious problems associated with the provision of sufficient energy to meet human needs and to fuel economic growth world-wide. This has pointed to the need for energy and material efficiency, which would reduce air, water and thermal pollution, as well as waste production. Increasing energy and material efficiency also have the benefits of increased employment, improved balance of imports and exports, increased security of energy supply, and adopting environmentally advantageous energy supply. A large potential exists for energy savings through energy and material efficiency improvements. Technologies are not now, nor will they be, in the foreseeable future, the limiting factors with regard to continuing energy efficiency improvements. There are serious barriers to energy efficiency improvement, including unwillingness to invest, lack of available and accessible information, economic disincentives and organizational barriers. A wide range of policy instruments, as well as innovative approaches have been tried in some countries in order to achieve the desired energy efficiency approaches. These include: regulation and guidelines; economic instruments and incentives; voluntary agreements and actions, information, education and training; and research, development and demonstration. An area that requires particular attention is that of improved international co-operation to develop policy instruments and technologies to meet the needs of developing countries. Material efficiency has not received the attention that it deserves. Consequently, there is a dearth of data on the qualities and quantities for final consumption, thus, making it difficult to formulate policies. Available data, however, suggest that there is a large potential for improved use of many materials in industrialized countries.

  14. Economic effects of energy efficiency improvements in the Finnish building stock

    International Nuclear Information System (INIS)

    Tuominen, Pekka; Forsström, Juha; Honkatukia, Juha

    2013-01-01

    This study estimates the economic effects of investing in energy efficiency in buildings on a national level. First conservation potentials in space heating for two different scenarios with different levels of investment in energy efficiency are quantified. This was done relying on statistical data and future projections of the development of the building stock. Then economic modeling was used to estimate the effects on energy sector and the economy at large. The results show that a rather modest increase resulting in a few percent rise in annual construction and renovation investments can decrease total primary energy consumption 3.8–5.3% by 2020 and 4.7–6.8% by 2050 compared to a baseline scenario. On the short term a slight decrease in the level of GDP and employment is expected. On the medium to long term, however, the effects on both would be positive. Furthermore, a significant drop in harmful emissions and hence external costs is anticipated. Overall, a clear net benefit is expected from improving energy efficiency. - Highlights: ► The possible cut in energy consumption: 3.8–5.3% by 2020 and 4.7–6.8% by 2050. ► Short term negative effects to GDP and long term positive effects are expected. ► A significant drop in harmful emissions and hence external costs is anticipated.

  15. Investment in Renewable Energies in Argentina

    Directory of Open Access Journals (Sweden)

    Marina Recalde

    2017-05-01

    Full Text Available This article analyzes how the enabling conditions of the energy policy of a developing country such as Argentina, are crucial for the deployment of renewable energy investments. The conclusions highlights that the low institutional quality of the country shapes enabling conditions and reduce effect of the instruments of the energy policy, dropping incentives for investment in renewable technologies in the country. Therefore, in order to promote renewable technologies investments efficiently, the institutional framework of countries must be seriously improved.

  16. Efficient use of energy: investment practice in industry; Effiziente Energienutzung: Investitionspraxis in der Industrie

    Energy Technology Data Exchange (ETDEWEB)

    Kuster, J. [BHP - Brugger, Hanser und Partner AG, Zuerich (Switzerland); Zweiacker, J.-F. [Rapp AG Ingenieure und Planer, Biel (Switzerland); Rosch, M. [Consulting Verfahrenstechnik, Allschwil (Switzerland)

    2000-07-01

    This report for the Swiss Federal Office of Energy (SFOE) presents the results of a study made on drying processes used in industry and possible ways of promoting investment in measures to increase the efficient use of energy. The energy consumption of dehydration and drying processes used in industry is examined and the savings potential for these processes estimated. Examples of the processes investigated are given and figures for the energy consumption for dehydration and drying processes in several different industrial sectors are quoted. The report then examines, on the one hand, the factors that hem innovations in this area and, on the other, those that promote them. Further, the report looks into which reasons are responsible for the realisation or non-realisation of technically and economically viable solutions for improving the energy-efficiency of the dehydration and drying processes.

  17. Improving irrigation efficiency : the need for a relevant sequence of the management tools

    Science.gov (United States)

    Fayolle, Y.

    2009-04-01

    With 70 % of worldwide withdrawals, irrigation efficiency is a key issue in the overall problem of water resources. Management of water dedicated to agriculture should be improved to secure food production and save water to deal with increasing domestic and industrial demands. This paper is based on the results of a collaborative research project conducted in India with a local NGO (the Aga Khan Rural Support Programme, AKRSP(I)) during which GIS were tested. It is aimed at analyzing the efficiency of water usage in a water development programme conducted by the partner NGO in the semi-arid margins of Gujarat state. The analysis raises the question of the articulation of legal, institutional, economical, and technical tools to improve water efficiency. The NGO supervises the construction of surface water harvesting structures for irrigation purposes. Following a participatory approach, it creates and trains user groups to which the management of dams would then be devolved. User group membership depends on financial contribution to the building costs. A legal vacuum regarding surface water management combined with unequal investment capacities favor the concentration of water resources in the hands of a limited number of farmers. This causes low water use efficiency, irrigation choices being mostly oriented to high water consumptive crops and recipient farmers showing no interest in investing in water saving techniques. Our observations favor equality of access and paying more attention to the sequence in which management tools are articulated. On a national scale, as a prerequisite, water user rights as well as NGO's intervention legal framework should be clarified. On a project scale, before construction, information systems could help to identify all potential beneficiaries and optimize equality of access. It aims at reducing the volume of water per farmer to encourage them to irrigate low water consumptive crops and invest in water saving techniques. Depending

  18. Forecasting jobs in the supply chain for investments in residential energy efficiency retrofits in Florida

    Science.gov (United States)

    Fobair, Richard C., II

    This research presents a model for forecasting the numbers of jobs created in the energy efficiency retrofit (EER) supply chain resulting from an investment in upgrading residential buildings in Florida. This investigation examined material supply chains stretching from mining to project installation for three product types: insulation, windows/doors, and heating, ventilating, and air conditioning (HVAC) systems. Outputs from the model are provided for the project, sales, manufacturing, and mining level. The model utilizes reverse-estimation to forecast the numbers of jobs that result from an investment. Reverse-estimation is a process that deconstructs a total investment into its constituent parts. In this research, an investment is deconstructed into profit, overhead, and hard costs for each level of the supply chain and over multiple iterations of inter-industry exchanges. The model processes an investment amount, the type of work and method of contracting into a prediction of the number of jobs created. The deconstruction process utilizes data from the U.S. Economic Census. At each supply chain level, the cost of labor is reconfigured into full-time equivalent (FTE) jobs (i.e. equivalent to 40 hours per week for 52 weeks) utilizing loaded labor rates and a typical employee mix. The model is sensitive to adjustable variables, such as percentage of work performed per type of product, allocation of worker time per skill level, annual hours for FTE calculations, wage rate, and benefits. This research provides several new insights into job creation. First, it provides definitions that can be used for future research on jobs in supply chains related to energy efficiency. Second, it provides a methodology for future investigators to calculate jobs in a supply chain resulting from an investment in energy efficiency upgrades to a building. The methodology used in this research is unique because it examines gross employment at the sub-industry level for specific

  19. Accounting conservatism,ultimate ownership and investment efficiency

    Institute of Scientific and Technical Information of China (English)

    Xiaodong Xu; Xia Wang; Nina Han

    2012-01-01

    Purpose-The purpose of this paper is to analyze and examine the role of accounting conservatism on firm investment behavior in China.Design/methodology/approach-By combining a developed theoretical framework and empirical study,this paper examines the impacts of accounting conservatism on firm investment.The sample and data are all collected from Wind and CAMAR databases.Findings-The paper finds that the association between accounting conservatism and capital expenditure is significantly positive when inside capital is not enough to use for investment,suggesting that conservatism can expend the level of investment by decreasing information asymmetry and cost of capital;however,the association between accounting conservatism and capital expenditure is significantly negative when inside capital is enough to use for investment,suggesting that conservatism can curtail the level of investment by mitigating the interest conflicts between management and outside shareholders and decreasing agency costs.Additionally,the paper finds that the severity of information asymmetry and agency problem affects the role of accounting conservatism on firm investment behaviour,and the association between accounting conservatism and capital expenditure is weaker for firms with ultimate ownership controller as local government or individuals.Originality/value-This is the first paper to analyze and examine the impacts of accounting conservatism on firm investment in China directly.The findings are also useful to explain the awkward predicament found by prior literature.

  20. Saving money vs investing money: Do energy ratings influence consumer demand for energy efficient goods?

    International Nuclear Information System (INIS)

    Panzone, Luca A.

    2013-01-01

    The article analyses economic barriers leading to the energy efficiency gap in the market for energy-using products by observing several million transactions in the UK over two years. The empirical exercise estimates AIDS models for refrigerators, washing machines, TVs, and light bulbs. Results indicate that market barriers are crucial in the demand for energy efficient options, and consumer response to changes in appliance prices, total expenditures, and energy prices depends on the possibility of behavioural adjustments in consumption. In contrast with the induced innovation hypothesis, current electricity prices can fail to induce innovation because of their short-term impact on disposable income, while consumers invest in energy efficiency when expecting electricity prices to rise in the future. - Highlights: • The article analyses economic barriers to energy efficiency in the UK. • Data refers to 2-year sales of refrigerators, washing machines, TV, and light bulbs. • Demand parameters by efficiency rating are estimated from four AIDS models. • Future (not present) electricity prices induce investments in energy efficiency. • Behavioural efficiency adjustments explain differences in market response

  1. Investment inefficiency and the adoption of eco-innovations: The case of household energy efficiency technologies

    International Nuclear Information System (INIS)

    Diaz-Rainey, Ivan; Ashton, John K.

    2015-01-01

    This paper examines the factors determining household adoption of energy efficiency eco-innovations. We do so by testing hypotheses grounded in diffusion and finance theory and the literature on the barriers to energy efficiency. Using two large surveys of UK households, we explore the adoption of nine technologies. Our results indicate ‘investment inefficiency’ amongst household adopters occurs for two reasons. First, contrary to notions of rational choice, we find a negative relationship between the investment return of technologies and their level of diffusion. Second, we show adopters of these technologies display characteristics broadly consistent with diffusion theory, contradicting the prediction of finance theory that investment return, not individual characteristics, should drive adoption. We also find that policy has played a role in inducing the diffusion of these technologies and that tenure and spill-over effects are important in adoption. Finally, adoption is motivated more by a desire to save money than by environmental concern. We conclude by giving examples of how our research can lead to better policy timing and targeting. -- Highlights: •We explore the factors driving household adoption of energy efficiency technologies. •We employ two high quality nationally representative cross sectional surveys. •There is a negative relationship between investment return and level of diffusion. •Adopters display characteristics broadly consistent with diffusion theory. •Policy interventions, tenure effects and spill-over effects also influence adoption

  2. Future energy efficiency improvements within the US department of defense: Incentives and barriers

    International Nuclear Information System (INIS)

    Umstattd, Ryan J.

    2009-01-01

    The present work describes the military impact of improved efficiency and then highlights existing technological, political, and financial barriers for improving overall energy efficiency. As the largest user of energy within the US government, the Department of Defense (DOD) is rightly concerned that any disruption to the nation's energy supply may have an extremely adverse impact on its military capabilities. The total solution to providing energy security will be multi-faceted with progress required on many fronts. Increasing the use of renewable energy sources and improving energy storage capabilities are gradually creating a positive impact, but investing in improving the overall efficiency of the military effort provides both immediate and long-lasting payback. One might suppose that a decrease in the energy used by the DOD should lead to a decrease in military capability, but historical data proves otherwise. It is shown that the military has additional impetus, compared to civilian consumers, to pursue energy-efficiency improvements. Many tools are available to help the DOD along this path, yet there remain obstacles which must first be identified and analyzed as discussed herein.

  3. The social return on investment in the energy efficiency of buildings in Germany

    International Nuclear Information System (INIS)

    Kuckshinrichs, Wilhelm; Kronenberg, Tobias; Hansen, Patrick

    2010-01-01

    The German government has developed a variety of policy instruments intended to reduce national CO 2 emissions. These instruments include a programme administered by KfW bank, which aims at improving the energy efficiency of buildings. It provides attractive credit conditions or subsidies to finance refurbishment measures which improve the energy efficiency of buildings significantly. The refurbishment programme leads to a reduction in energy use, which benefits private investors by reducing their energy bills. In order to estimate whether the programme benefits society as a whole, additional effects must be taken into account, such as the amount of employment generated and the impact on the public budget. The aim of this paper is to evaluate the social benefits of the German CO 2 refurbishment programme for the years 2005-2007. An extended input-output model is used to estimate the effect of the refurbishment works on public revenue via taxes and social security contributions. The value of avoided CO 2 emissions is approximated using a range of marginal damage estimates from the literature. From these social benefits, the programme cost is deducted. The net social benefit thus computed turns out to be positive. This finding suggests that the refurbishment programme is a reasonable investment of public funds.

  4. Importance of organized energy efficiency introduction and improvement in PE EPS

    Directory of Open Access Journals (Sweden)

    Nikolić Aleksandar

    2015-01-01

    Full Text Available The energy management system (EnMS introduction into companies that are significant energy consumers has been initiated after adoption of the Law of efficient energy usage. Due to the fact that sectors for production, transmission and distribution of electrical and heat energy are also implied by this law, it is clear that PE EPS is also obligated to implement EnMS and to carry out the requirements defined by legislation. In this paper, the results of first-phase introduction of the system for supervision and improvement of energy efficiency in PE EPS in production of coal, and production and distribution of electrical and heat energy, are given. Recommended measures for energy efficiency improvement with stress on larger energy, financial savings and a lower rate of investment return are emphasised. Such systematic measures should also serve as a good basis for further stages of energy management introduction and implementation.

  5. Study On The Multi-Project Management Practices for Complex Investments

    Directory of Open Access Journals (Sweden)

    Mircea Sandru

    2015-11-01

    Full Text Available This paper highlights the results of a study carried out during the doctoral research in case of multi project Engineering, Procurement, Construction, Commissioning (EPCC investment types. The objective of this study was to improve the project portfolio management. The methodology used in the research presented in this paper is focused on the analysis of the authors related to the approaches debated in literature and theirs applicability in EPCC type investment programs. In this sense were analyzed 11 international projects in petrochemical and refinery field and also 7 investments in other different areas of chemical industry. The research highlighted that the management process of these investments can be improved trough the correct project integration, being able to provide a performing working environment able to sustain the management team in identifying the investment program criticalities and congestion points in order to be able to manage them in an efficient manner in order to assure the reach of the investment goal. Having as consequence the possibility to significant reduction of execution period, up to 16% and in the mean time also the delays related risks through a more efficient investment managerial act.

  6. Ways of improving the investment climate in the Republic of Moldova. Case Study: Baltic States

    Directory of Open Access Journals (Sweden)

    Violeta MIHAILOVA

    2016-06-01

    Full Text Available Investment has become a strategic priority for Moldova due to the awareness that attracting investments and creating an appropriate business environment for the market economy, represent the basic factors that contribute to an improvement in productive capacity and an increase in competitiveness of an economy. The quality of the investment climate is linked to poverty reduction by the impact of better investment environments on private sector activity, and thus on economic growth and employment. This research paper evaluates the investment environment in details and determines the impact of the factors that influence it, in order to come up with solutions of removing those barriers to investment, therefore, improve the investment climate in the Republic of Moldova.

  7. Public-Private Investment Partnerships: Efficiency Estimation Methods

    Directory of Open Access Journals (Sweden)

    Aleksandr Valeryevich Trynov

    2016-06-01

    Full Text Available The article focuses on assessing the effectiveness of investment projects implemented on the principles of public-private partnership (PPP. This article puts forward the hypothesis that the inclusion of multiplicative economic effects will increase the attractiveness of public-private partnership projects, which in turn will contribute to the more efficient use of budgetary resources. The author proposed a methodological approach and methods of evaluating the economic efficiency of PPP projects. The author’s technique is based upon the synthesis of approaches to evaluation of the project implemented in the private and public sector and in contrast to the existing methods allows taking into account the indirect (multiplicative effect arising during the implementation of project. In the article, to estimate the multiplier effect, the model of regional economy — social accounting matrix (SAM was developed. The matrix is based on the data of the Sverdlovsk region for 2013. In the article, the genesis of the balance models of economic systems is presented. The evolution of balance models in the Russian (Soviet and foreign sources from their emergence up to now are observed. It is shown that SAM is widely used in the world for a wide range of applications, primarily to assess the impact on the regional economy of various exogenous factors. In order to clarify the estimates of multiplicative effects, the disaggregation of the account of the “industry” of the matrix of social accounts was carried out in accordance with the All-Russian Classifier of Types of Economic Activities (OKVED. This step allows to consider the particular characteristics of the industry of the estimated investment project. The method was tested on the example of evaluating the effectiveness of the construction of a toll road in the Sverdlovsk region. It is proved that due to the multiplier effect, the more capital-intensive version of the project may be more beneficial in

  8. INVESTMENT ATTRACTIVENESS OF ENTERPRISES

    Directory of Open Access Journals (Sweden)

    Nadiia Davydenko

    2017-03-01

    Full Text Available In the article the approaches to defining the essence of the concept of “investment attractiveness of enterprises” were analyzed. On the example of "Agrofirm Brusilov" depth analysis of the agricultural enterprises to evaluate of profitability, liquidity, solvency, financial stability, the timing of the return of invested funds and minimizing investment risks was conducted. To study methods of rating and system analysis were used. To justify the conditions of  increasing investment attractiveness farms method of scoring was used. It was established as a result of the use of integrated evaluation of the financial position one can see problem aspects of financial position of the company and develop measures to enhance liquidity, solvency, identify potential for raising the efficiency of company and prevention of financial crisis. The analysis of financial position showed that the management of the enterprise doesn’t  think  about  financial stability and solvency, does not understand the benefit of borrowed capital. Using research results in practice of agricultural enterprises allows us to give a real evaluation of investment attractiveness and justify ways to improve it. Key words: investments, investment attractiveness, potential business, financial position.

  9. Data-Mining – A Valuable Managerial Tool for Improving Power Plants Efficiency

    Directory of Open Access Journals (Sweden)

    Danubianu Mirela

    2014-05-01

    Full Text Available Energy and environment are top priorities for the EU’s Europe 2020 Strategy. Both fields imply complex approaches and consistent investment. The paper presents an alternative to large investments to improve the efficiencies of existing (outdated power installations: namely the use of data-mining techniques for analysing existing operational data. Data-mining is based upon exhaustive analysis of operational records, inferring high-value information by simply processing records with advanced mathematical / statistical tools. Results can be: assessment of the consistency of measurements, identification of new hardware needed for improving the quality of data, deducing the most efficient level for operation (internal benchmarking, correlation of consumptions with power/ heat production, of technical parameters with environmental impact, scheduling the optimal maintenance time, fuel stock optimization, simulating scenarios for equipment operation, anticipating periods of maximal stress of equipment, identification of medium and long term trends, planning and decision support for new investment, etc. The paper presents a data mining process carried out at the TERMICA - Suceava power plant. The analysis calls for a multidisciplinary approach, a complex team (experts in power&heat production, mechanics, environmental protection, economists, and last but not least IT experts and can be carried out with lower expenses than an investment in new equipment. Involvement of top management of the company is essential, being the driving force and motivation source for the data-mining team. The approach presented is self learning as once established, the data-mining analytical, modelling and simulation procedures and associated parameter databases can adjust themselves by absorbing and processing new relevant information and can be used on a long term basis for monitoring the performance of the installation, certifying the soundness of managerial measures taken

  10. Econometric estimation of investment utilization, adjustment costs, and technical efficiency in Danish pig farms using hyperbolic distance functions

    DEFF Research Database (Denmark)

    Henningsen, Arne; Fabricius, Ole; Olsen, Jakob Vesterlund

    2014-01-01

    Based on a theoretical microeconomic model, we econometrically estimate investment utilization, adjustment costs, and technical efficiency in Danish pig farms based on a large unbalanced panel dataset. As our theoretical model indicates that adjustment costs are caused both by increased inputs...... of investment activities by the maximum likelihood method so that we can estimate the adjustment costs that occur in the year of the investment and the three following years. Our results show that investments are associated with significant adjustment costs, especially in the year in which the investment...

  11. How can we use a mathematical model in order to analyze and improve the efficiency of a productive activity?

    Directory of Open Access Journals (Sweden)

    Mariana Nikolla

    2017-07-01

    Full Text Available Beer business industry is one of the most profitable agro-processing industries in the country. It has increased by expanding local and international market. There are 80 small and large beer factories that have their activity in Albania. The leading domestic beer manufacturers are: "Stela" beer, “Tirana” beer, “Korca” beer, “Kaon” beer, “Norga” beer, etc. They have invested millions of euros in terms of improving the quality of their production. Stela beer was the fi rst private beer active in the Albanian market. Its factory production founders of Stela beer responded to the market by investing in the development of technology, modern equipment and science. Stela beer processing and production systems have been improved continuously. The investments today are at around 20 million dollars. The factory has a considerable number of employees and a production capacity of around 250,000 hl per year. This article uses information obtained for beer production during the period 2003-2016. Through nonparametric mathematical model Dea, the impact of production factors such as investment, advertising, expenses, capital and number of employees in the production of beer during the study period is analyzed. The analysis showed that the best years or more efficient years in the use of the quantity of inputs for the period 2003-2016 are 2007, 2014 and 2015. The years 2003, 2010 and 2012 are less efficient by Dea analysis. The study also showed the best possible combinations of inputs improving the efficiency of inefficient years in the Stela Beer production.

  12. Economic and environmental impacts of community-based residential building energy efficiency investment

    International Nuclear Information System (INIS)

    Choi, Jun-Ki; Morrison, Drew; Hallinan, Kevin P.; Brecha, Robert J.

    2014-01-01

    A systematic framework for evaluating the local economic and environmental impacts of investment in building energy efficiency is developed. Historical residential building energy data, community-wide economic input–output data, and emission intensity data are utilized. The aim of this study is to show the comprehensive insights and connection among achieving variable target reductions for a residential building energy use, economic and environmental impacts. Central to this approach for the building energy reduction goal is the creation of individual energy models for each building based upon historical energy data and available building data. From these models, savings estimates and cost implications can be estimated for various conservation measures. A ‘worst to first’ (WF) energy efficient investment strategy is adopted to optimize the level of various direct, indirect, and induced economic impacts on the local community. This evaluation helps to illumine opportunities to establish specific energy reduction targets having greatest economic impact in the community. From an environmental perspective, short term economy-wide CO 2 emissions increase because of the increased community-wide economic activities spurred by the production and installation of energy efficiency measures, however the resulting energy savings provide continuous CO 2 reduction for various target savings. - Highlights: • WF energy efficient strategy helps to optimize various level of economic impacts. • Greatest community benefits are achieved from specific energy reduction targets. • Community-wide economic impacts vary for different energy conservation measures

  13. India welcomes foreign investment in power

    International Nuclear Information System (INIS)

    Kishewitsch, S.

    1993-01-01

    India's electricity supply capacity is 72 GW, and there are plans to add 48 GW every five years for the next 15 years. Economic growth is about 6% and new policies have been implemented to encourage foreign investment in the electric power sector, since state electricity boards lack funds for expansion. Ceilings on foreign ownership have been removed, tariffs are being reduced, rupees are made convertible on trade accounts, and licenses now have 30-year terms. To ensure investor interest, the national parliament has guaranteed a 16% return on equity. Power system developers interested in the Indian market will have to overcome problems associated with bureaucratic inefficiency, low load factors, a high percentage of rural population, lack of local financing, uneven quality of coal supplies, cumbersome regulations, poor maintenance of equipment, transportation delays, and widespread theft of power. In some areas of India, investments in improving the efficiency of the transmission or generation system, or improving efficiency of end-use industrial processes, could be more cost-effective than building new power plants. Recommendations are made for Canadian firms interested in investing in India's electric power sector

  14. METHODOLOGICAL APPROACHES TO THE ANALYSIS OF EFFICIENCY OF CASH FLOW MANAGEMENT IN INVESTMENT ACTIVITY OF THE ENTERPRISES

    OpenAIRE

    I. Magdych

    2015-01-01

    The article explores the methodological approaches to the analysis of cash flows in investment activity of the enterprise; the system of motion net cash flows, reflecting the impact of cash management efficiency on the amount and source of investment cash flows of the enterprise; analytical model of definition of effectiveness of cash management of the enterprise is proposed, based on the selected principals of modeling, comprehensive analysis of cash flows in investing activities and their o...

  15. Career concerns, shareholder monitoring and investment efficiency: From the perspective of compensation contract rigidity in Chinese SOEs

    Directory of Open Access Journals (Sweden)

    Hualin Wan

    2015-03-01

    Full Text Available This paper presents theoretical analysis of how career concerns and shareholder monitoring affect chief executive officer (CEO agency costs. We investigate investment efficiency prior to CEO retirement based on a sample of Chinese state-owned enterprises (SOEs during the 1999–2007 period and find that there is a significant decline in investment efficiency prior to CEO retirement, relative to other periods, and that this decline becomes less significant under stronger shareholder supervision. Our research furthers understanding of the significance of SOE incentive and monitoring mechanisms.

  16. Improving the energy efficiency of mine fan assemblages

    International Nuclear Information System (INIS)

    De Souza, Euler

    2015-01-01

    Energy associated with ventilating an underground operation comprises a significant portion of a mine operation's base energy demand and is consequently responsible for a large percentage of the total operating costs. Ventilation systems may account from 25 to 40% of the total energy costs and 40–50% of the energy consumption of a mine operation. Fans are the most important mechanical devices used to ventilate underground mines and the total fan power installed in a single mine operation can easily exceed 10,000 kW. Investigations of a number of mine main fan installations have determined their assemblage to be, in general, very energy inefficient. The author has found that 40–80% of the energy consumed by a main fan is used to overcome the resistance of fan assemblage components. This paper presents how engineering design principles can be applied to improve the performance and efficiency of fan installations, resulting in substantial reductions in power consumption, operating cost and greenhouse gas emissions. A detailed case study is presented to demonstrate that, by designing fan assemblages using proper engineering concepts of fluid physics and industrial ventilation design, main fan systems will operate at efficiencies well above 80–90% (compared to common operating efficiencies of between 20 and 65%), resulting in a drastic reduction in a mine's overall costs and base electrical and energy loads. - Highlights: • Increases in fan assemblage efficiencies with minimum capital investment. • Improved designs for substantial fan power and operating cost savings. • General solutions and tactics for improving existing main fan installations. • Case study presented to demonstrate proper design of fan assemblages.

  17. Supplier’s Joint Investments in Cost Reduction and Quality Improvement in a Decentralized Supply Chain

    Directory of Open Access Journals (Sweden)

    Hengyun Zhang

    2017-01-01

    Full Text Available We consider a decentralized supply chain with a downstream manufacturer and an upstream supplier. The upstream supplier sells a product to the manufacturer, who faces a quality and price sensitive demand. The supplier has a chance to invest in both cost reduction and quality improvement of its product. We derive the optimal investment and pricing decisions for the supply chain members. We do so in both the centralized and the decentralized supply chains. We show that the optimal investment and pricing decisions in the decentralized supply chain may deviate from that in the centralized supply chain. We develop a mechanism to coordinate the decentralized supply chain. The developed mechanism contains four policies: wholesale price, sharing of revenue, sharing of cost reduction investment cost, and sharing of quality improvement investment cost. We also show that the developed coordination mechanism can lead to Pareto improvement.

  18. Spreading The Net: The Multiple Benefits Of Energy Efficiency Improvements

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-07-01

    Improving energy efficiency can deliver a range of benefits to the economy and society. However energy efficiency programmes are often evaluated only on the basis of the energy savings they deliver. As a result, the full value of energy efficiency improvements in both national and global economies may be significantly underestimated. This also means that energy efficiency policy may not be optimised to target the potential of the full range of outcomes possible. Moreover, when the merit of energy efficiency programmes is judged solely on reductions in energy demand, programmes are susceptible to criticisms related to the rebound effect when the energy savings are less than expected due to other welfare gains. There are several reasons why the full range of outcomes from energy efficiency policy is not generally evaluated. First, it is due to the non-market, somewhat intangible, nature of the socioeconomic benefits, which makes them difficult to quantify. Second, the effects due to energy efficiency alone can be complex to isolate and to determine causality. Third, evaluators and policy makers working in the energy efficiency sphere are usually energy professionals, working for an energy agency or ministry, with little experience of how energy efficiency might impact other non-energy sectors. The result is an under-appreciation – and related underinvestment – in energy efficiency, and as a consequence, missed opportunities and benefits. These foregone benefits represent the ‘opportunity cost’ of failing to adequately evaluate and prioritize energy efficiency investments. The objective of this report is to fully outline the array of different benefits from improved energy efficiency and investigate their implications for policy design. By better understanding the different benefits arising from energy efficiency it should be easier for policy makers to prioritise the most significant outcomes, in addition to energy savings, in optimising energy efficiency

  19. METHODOLOGICAL APPROACHES TO THE ANALYSIS OF EFFICIENCY OF CASH FLOW MANAGEMENT IN INVESTMENT ACTIVITY OF THE ENTERPRISES

    Directory of Open Access Journals (Sweden)

    I. Magdych

    2015-06-01

    Full Text Available The article explores the methodological approaches to the analysis of cash flows in investment activity of the enterprise; the system of motion net cash flows, reflecting the impact of cash management efficiency on the amount and source of investment cash flows of the enterprise; analytical model of definition of effectiveness of cash management of the enterprise is proposed, based on the selected principals of modeling, comprehensive analysis of cash flows in investing activities and their optimization for the purpose of maximization of social and economic benefit. The research performed here allowed generalization and definition of stages of analysis for investing cash flow of the enterprise with the appropriate reasoning. It is necessary that research is going concern in this direction of effectiveness valuation of cash flow management in investing activity of the enterprise.

  20. A model for improving energy efficiency in industrial motor system using multicriteria analysis

    International Nuclear Information System (INIS)

    Herrero Sola, Antonio Vanderley; Mota, Caroline Maria de Miranda; Kovaleski, Joao Luiz

    2011-01-01

    In the last years, several policies have been proposed by governments and global institutions in order to improve the efficient use of energy in industries worldwide. However, projects in industrial motor systems require new approach, mainly in decision making area, considering the organizational barriers for energy efficiency. Despite the wide application, multicriteria methods remain unexplored in industrial motor systems until now. This paper proposes a multicriteria model using the PROMETHEE II method, with the aim of ranking alternatives for induction motors replacement. A comparative analysis of the model, applied to a Brazilian industry, has shown that multicriteria analysis presents better performance on energy saving as well as return on investments than single criterion. The paper strongly recommends the dissemination of multicriteria decision aiding as a policy to support the decision makers in industries and to improve energy efficiency in electric motor systems. - Highlights: → Lack of decision model in industrial motor system is the main motivation of the research. → A multicriteria model based on PROMETHEE method is proposed with the aim of supporting the decision makers in industries. → The model can contribute to transpose some barriers within the industries, improving the energy efficiency in industrial motor system.

  1. A model for improving energy efficiency in industrial motor system using multicriteria analysis

    Energy Technology Data Exchange (ETDEWEB)

    Herrero Sola, Antonio Vanderley, E-mail: sola@utfpr.edu.br [Federal University of Technology, Parana, Brazil (UTFPR)-Campus Ponta Grossa, Av. Monteiro Lobato, Km 4, CEP: 84016-210 (Brazil); Mota, Caroline Maria de Miranda, E-mail: carolmm@ufpe.br [Federal University of Pernambuco, Cx. Postal 7462, CEP 50630-970, Recife (Brazil); Kovaleski, Joao Luiz [Federal University of Technology, Parana, Brazil (UTFPR)-Campus Ponta Grossa, Av. Monteiro Lobato, Km 4, CEP: 84016-210 (Brazil)

    2011-06-15

    In the last years, several policies have been proposed by governments and global institutions in order to improve the efficient use of energy in industries worldwide. However, projects in industrial motor systems require new approach, mainly in decision making area, considering the organizational barriers for energy efficiency. Despite the wide application, multicriteria methods remain unexplored in industrial motor systems until now. This paper proposes a multicriteria model using the PROMETHEE II method, with the aim of ranking alternatives for induction motors replacement. A comparative analysis of the model, applied to a Brazilian industry, has shown that multicriteria analysis presents better performance on energy saving as well as return on investments than single criterion. The paper strongly recommends the dissemination of multicriteria decision aiding as a policy to support the decision makers in industries and to improve energy efficiency in electric motor systems. - Highlights: > Lack of decision model in industrial motor system is the main motivation of the research. > A multicriteria model based on PROMETHEE method is proposed with the aim of supporting the decision makers in industries. > The model can contribute to transpose some barriers within the industries, improving the energy efficiency in industrial motor system.

  2. Investments

    CERN Document Server

    Bodie, Zvi

    2013-01-01

    The integrated solutions for Bodie, Kane, and Marcus' Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. McGraw-Hill's adaptive learning component, LearnSmart, provides assignable modules that help students master chapter core concepts and come to class more prepared. Bodie Investments' blend of practical and theoretical coverage combines with a complete digital solution to help your students achieve higher outcomes in the course

  3. Improving water quality in China: Environmental investment pays dividends.

    Science.gov (United States)

    Zhou, Yongqiang; Ma, Jianrong; Zhang, Yunlin; Qin, Boqiang; Jeppesen, Erik; Shi, Kun; Brookes, Justin D; Spencer, Robert G M; Zhu, Guangwei; Gao, Guang

    2017-07-01

    This study highlights how Chinese economic development detrimentally impacted water quality in recent decades and how this has been improved by enormous investment in environmental remediation funded by the Chinese government. To our knowledge, this study is the first to describe the variability of surface water quality in inland waters in China, the affecting drivers behind the changes, and how the government-financed conservation actions have impacted water quality. Water quality was found to be poorest in the North and the Northeast China Plain where there is greater coverage of developed land (cities + cropland), a higher gross domestic product (GDP), and higher population density. There are significant positive relationships between the concentration of the annual mean chemical oxygen demand (COD) and the percentage of developed land use (cities + cropland), GDP, and population density in the individual watersheds (p investments in environmental restoration and reforestation, the water quality of Chinese inland waters has improved markedly, which is particularly evident from the significant and exponentially decreasing GDP-normalized COD and ammonium (NH 4 + -N) concentrations. It is evident that the increasing GDP in China over the past decade did not occur at the continued expense of its inland water ecosystems. This offers hope for the future, also for other industrializing countries, that with appropriate environmental investments a high GDP can be reached and maintained, while simultaneously preserving inland aquatic ecosystems, particularly through management of sewage discharge. Copyright © 2017 Elsevier Ltd. All rights reserved.

  4. Problems of improving the investing process management in NPP construction

    International Nuclear Information System (INIS)

    Denisov, G.A.

    1986-01-01

    Problems of development of the optimal system for the investing process management in NPP construction are discussed. It includes 3 steps: design construction ( including building structure and equipment production ), and achievement of designed technical and economical indices, during reactor start-up. The method for estimating the interest of each participator of the intensing process and developing the optimal solution, that is capable to approach these interests, is suggested. The conclusion is made that it is necessary to develop and confirm the branch standard, which should include a complex amalgamated network of works to improve the organization of the investing process

  5. Suboptimal investments and M&A deals in emerging capital markets

    Directory of Open Access Journals (Sweden)

    Cherkasova Victoria

    2016-01-01

    Full Text Available This paper focuses on the efficiency of target-company investment decisions before and after Merger & Acquisition deals. We study whether M&A deals help to solve the problem of suboptimal investment after the acquisition. Using a sample of 145 target companies from BRICS countries that were acquired during the period 2004-2014, we outline those that had over- or underinvested before the deal and show that more than half the companies managed to optimize the investment level after the deal. We determine the key factors that improve the inefficiency of investment decisions and demonstrate that the industry and country have an impact on the degree of suboptimal investment.

  6. Application of porous medium for efficiency improvement of a concentrated solar air heating system

    Science.gov (United States)

    Prasartkaew, Boonrit

    2018-01-01

    The objective of this study is to evaluate the thermal efficiency of a concentrated solar collector for a high temperature air heating system. The proposed system consists of a 25-m2 focused multi-flat-mirror solar heliostat equipped with a porous medium solar collector/receiver which was installed on the top of a 3-m tower, called ‘tower receiver’. To know how the system efficiency cloud be improved by using porous medium, the proposed system with and without porous medium were tested and the comparative study was performed. The experimental results reveal that, for the proposed system, application of porous medium is promising, the efficiency can be increased about 2 times compared to the conventional one. In addition, due to the porous medium used in this study was the waste material with very low cost. It can be summarized that the substantial efficiency improvement with very low investment cost of the proposed system seem to be a vital measures for addressing the energy issues.

  7. Assessing the capital efficiency of healthcare information technologies investments: an econometric perspective.

    Science.gov (United States)

    Meyer, Rodolphe; Degoulet, Patrice

    2008-01-01

    To examine the different methods that can be used in the quantification of the added value of information technologies (IT) in the health care sector. This quantification represents a major issue for decision-makers and health care professionals when they have to plan an IT investment. Articles were chosen via Medline, internet and the University of Geneva bibliographic portal. Some of the papers were obtained directly from their authors. We examine the most current methods used to evaluate IT return on investment (ROI) in the general business and in the health care sector, drawing attention on methods traditionally used in macroeconomic studies that could reveal themselves disruptive for IT ROI impact evaluation in hospitals. Financial and accounting methods can provide interesting data on a specific IT project but are usually incomplete for revealing the global IT investment influence. Econometric methods tend to demonstrate the positive impact of health care IT (HIT) on hospital production and productivity. Hospitals having higher levels of IT investment tend to deliver a higher level of clinical quality and show improved hospital cost performances. Information technologies are so intermingled with people and processes that the identification of specific IT benefit remains questionable. Using macroeconomic tools could be the best way to analyze and compute IT ROI in health care. Econometric tools take into account all types investments (inputs) and all the returns (outputs) enabling the precise measurement of IT investments impact, breakeven points, and possible threshold levels, thus providing helpful intelligence to reach the higher levels of IT governance in hospitals.

  8. Art investment in South Africa: Portfolio diversification and art market efficiency

    Directory of Open Access Journals (Sweden)

    Ferdi Botha

    2016-09-01

    Full Text Available Art has been suggested as a good way to diversify investment portfolios during times of financial uncertainty. The argument is that art exhibits different risk and return characteristics to conventional investments in other asset classes. The new Citadel art price index offered the opportunity to test this theory in the South African context. Moreover, this paper tests whether art prices are efficient. The Citadel index uses the hedonic regression method with observations drawn from the top 100, 50 and 20 artists by sales volume, giving approximately 29 503 total auction observations. The Index consists of quarterly data from the period 2000Q1 to 2013Q3. A vector autoregression of the art price index, Johannesburg stock exchange all-share index, house price index, and South African government bond index were used. Results show that, when there are increased returns on the stock market in a preceding period and wealth increases, there is a change in the Citadel art price index in the same direction. No significant difference was found between the house price index and the art price index, or between the art and government bond price indices. The art market is also found to be inefficient, thereby exacerbating the risk of investing in art. Overall, the South African art market does not offer the opportunity to diversify portfolios dominated by either property, bonds, or shares.

  9. THE ECONOMIC SUBSTANCE OF ACCOUNTING FOR FINANCIAL INVESTMENT AND THE PROSPECT OF USING “BLOCKCHAIN” TO CONTROL INVESTMENT ACTIVITY IN UKRAINE

    Directory of Open Access Journals (Sweden)

    Alina Lytvynenko

    2018-03-01

    Full Text Available The subject matter of the research is the financial investment and the application of innovative technologies to improve accounting in the context of investment management as one of the most important components of economic development. The goal is to study the methodology of reflecting financial investments of domestic enterprises. The objectives are to improve accounting of financial investments in the enterprise, to research the development prospects of accounting by introducing innovative technologies through the disclosure of theoretical aspects of research and the estimation of practical aspects of the study, the possibility of using the technology of blockchain in Ukraine to improve the financial reporting taking into account the experience of international partners (foreign countries. The methods used are system analysis and structural analysis. The following results are obtained. The state of investment accounting was analyzed and the prospects of using blockchain technology for improving auditing efficiency, increasing the transparency of financial investments and for counteracting corruption were found. Conclusions. During the analysis of the cause and effect relations of using innovative technologies in accounting, the immaturity of the existing accounting methodology was shown; this immaturity specifies incompleteness, the decline in the adequacy of accounting data in accordance with the realities of investment processes and the development of the industry as a whole. The use of blockchain technology enables restructuring the processes of accounting and their automation and increases the level of transparency of information disclosure by enterprises. Using blockchain for auditing becomes a unique solution as auditing affects all industries and is the foundation that helps global financial markets gain investor confidence. Taking into account the economic problems of Ukraine, the use of blockchain technology will help solve the

  10. Environmental assessment and investment strategies of provincial industrial sector in China — Analysis based on DEA model

    Energy Technology Data Exchange (ETDEWEB)

    Wang, Juan, E-mail: wangjuan_tju@163.com [College of Management and Economics, Tianjin University, Tianjin 300072 (China); Zhao, Tao [College of Management and Economics, Tianjin University, Tianjin 300072 (China); Zhang, Xiaohu [College of Civil Aviation, Nanjing University of Aeronautics and Astronautics, Nanjing, Jiangsu, 210016 (China)

    2016-09-15

    As an energy-intensive industry, the industrial sector consumes 70% of energy consumption and causes serious environmental pollution in China. Also, the government emphasized the promotion of R&D investment in the industrial sector in China's National Plan on Climate Change (2014–2020). It is meaningful and contributes to assessing energy and environmental performance, as well as R&D and industrial pollution control (IPC) investment strategies of China's industrial sector. A non-radial DEA model, as with natural and managerial disposability, was adopted to evaluate this from provincial and regional perspectives during the 2008–2012 period. Energy and environmental performance was evaluated by unified efficiency under natural disposability (UEN), unified efficiency under managerial disposability (UEM), and unified efficiency under natural and managerial disposability (UENM). The empirical results indicated that Shandong and Hainan were efficient under natural and managerial disposability, while other provinces had the potential to improve their energy and environmental performance. The number of provinces that was fit for investments of R&D and IPC increased from 2008 to 2010, then decreased in 2011 and 2012. In spite of this, many provincial industrial sectors should make efforts to reduce pollution by investment on technology. Tianjin, Heilongjiang, Jiangxi and Henan were especially the best investment objects because investments of R&D and IPC turned to be effective for them during the whole study period. Moreover, western China had the highest average UENM, followed by eastern China and central China. Eastern China and central China were rewarding to expand investments. Coal consumption was the main factor to negatively affect unified efficiency whereas the increase in economic development level was primarily responsible for the improvement of unified efficiency. According to the results, differentiated suggestions to further improve energy and

  11. Environmental assessment and investment strategies of provincial industrial sector in China — Analysis based on DEA model

    International Nuclear Information System (INIS)

    Wang, Juan; Zhao, Tao; Zhang, Xiaohu

    2016-01-01

    As an energy-intensive industry, the industrial sector consumes 70% of energy consumption and causes serious environmental pollution in China. Also, the government emphasized the promotion of R&D investment in the industrial sector in China's National Plan on Climate Change (2014–2020). It is meaningful and contributes to assessing energy and environmental performance, as well as R&D and industrial pollution control (IPC) investment strategies of China's industrial sector. A non-radial DEA model, as with natural and managerial disposability, was adopted to evaluate this from provincial and regional perspectives during the 2008–2012 period. Energy and environmental performance was evaluated by unified efficiency under natural disposability (UEN), unified efficiency under managerial disposability (UEM), and unified efficiency under natural and managerial disposability (UENM). The empirical results indicated that Shandong and Hainan were efficient under natural and managerial disposability, while other provinces had the potential to improve their energy and environmental performance. The number of provinces that was fit for investments of R&D and IPC increased from 2008 to 2010, then decreased in 2011 and 2012. In spite of this, many provincial industrial sectors should make efforts to reduce pollution by investment on technology. Tianjin, Heilongjiang, Jiangxi and Henan were especially the best investment objects because investments of R&D and IPC turned to be effective for them during the whole study period. Moreover, western China had the highest average UENM, followed by eastern China and central China. Eastern China and central China were rewarding to expand investments. Coal consumption was the main factor to negatively affect unified efficiency whereas the increase in economic development level was primarily responsible for the improvement of unified efficiency. According to the results, differentiated suggestions to further improve energy and environmental

  12. Efficiency improvements in transport

    Energy Technology Data Exchange (ETDEWEB)

    Schramm, J. [Technical Univ. of Denmark. DTU Mechanical Engineering, Kgs. Lyngby (Denmark); Christensen, Linda; Jensen, Thomas C. [Technical Univ. of Denmark. DTU Transport, Kgs. Lyngby (Denmark)

    2012-11-15

    Transport of people, personal belongings and goods in private cars is fundamental to our modern welfare society and economic growth, and has grown steadily over many decades. Motor fuels have been based almost entirely on crude oil for the last century. During the last couple of decades engines built for traditional fuels have become more advanced and efficient; this has reduced fuel consumption by around 40% and emissions by more than 90%. Only in the same time span have we begun to look at alternatives to fossil fuels. Biofuels such as biodiesel, bioethanol, biomethanol and biogas can replace petrol and diesel, and in recent years algae have shown a new potential for diesel fuel. Natural gas is also becoming an interesting fuel due to its large resources worldwide. GTL, CTL and BTL are liquid fuels produced from solid or gaseous sources. GTL and CTL are expensive to produce and not very CO{sub 2}-friendly, but they are easily introduced and need little investment in infrastructure and vehicles. DME is an excellent fuel for diesel engines. Methanol and DME produced from biomass are among the most CO{sub 2}-reducing fuels and at the same time the most energy-efficient renewable fuels. Fuel cell vehicles (FCVs) are currently fuelled by hydrogen, but other fuels are also possible. There are, however, several barriers to the implementation of fuel cell vehicles. In particular, a hydrogen infrastructure needs to be developed. Electric vehicles (EVs) have the advantage that energy conversion is centralised at the power plant where it can be done at optimum efficiency and emissions. EVs have to be charged at home, and also away from home when travelling longer distances. With an acceptable fast charging infrastructure at least 85% of the one-car families in Denmark could be potential EV customers. Range improvements resulting from better batteries are expected to create a large increase in the number of EVs in Denmark between 2020 and 2030. The hybrid electric vehicle

  13. Energy efficiency investments in the context of split incentives among French households

    International Nuclear Information System (INIS)

    Charlier, Dorothée

    2015-01-01

    The residential sector offers considerable potential for reducing energy use and greenhouse gas (GHG) emissions, particularly through energy-efficient renovations. The objective of this study is twofold. First, I aim to provide initial empirical evidence of the extent to which split incentives between landlords and tenants may lead to underinvestment. Second, I investigate the influence of tax credits and energy burdens on energy efficiency expenditures. Given the complexity of studying the decision to invest in energy-saving renovations, I use a bivariate Tobit model to compare decisions about energy-efficient works and repair works, even when the renovation expenditures seem quite similar. The analysis shows that tenants are doubly penalized: they have high energy expenditures due to energy-inefficient building characteristics, and because they are poorer than homeowners, they are unable to invest in energy-saving systems. The results also confirm that tax credits are ineffective in the split incentives context. In terms of public policy, the government should focus on low-income tenants, and mandatory measures such as minimum standards seem appropriate. Financial support from a third-party financer also might be a solution. - Highlights: • I provide empirical evidence of underinvestment due to split incentives. • I investigate the influence of tax credit and energy burden on EE expenditures. • Results show that tax credits are ineffective in a context of split incentives. • Mandatory measures such as minimum standards seem to be appropriate. • Financial support from a third party financer can be also a solution.

  14. Prioritising Investments in Marketing Activities to Improve Business Performance

    DEFF Research Database (Denmark)

    Martensen, Anne; Mouritsen, Jan

    2014-01-01

    The purpose of this study is to prioritise investments in marketing activities based on their effect on business performance (BP). On the basis of the European Foundation for Quality Management (EFQM) model adapted to a marketing context, four generic marketing activities are structured in two...... dimensions: (1) Small m: marketing strategy and marketing implementation and (2) big M: cross-functional coordination and innovation. Big M and small m interact and influence BP similarly. When considering investing in marketing activities to improve financial performance, the first priority is to recruit...... and retain competent employees and the second, to collect, disseminate and act upon market insight in the form of measurement of effectiveness and production of intelligence. These provide resources for the development of a customer-oriented marketing strategy that in turn helps innovation and cross...

  15. Investments

    CERN Document Server

    Bodie, Zvi; Marcus, Alan J.

    2017-01-01

    The integrated solutions for Bodie, Kane, and Marcus' Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective.

  16. Foreign aid or foreign investments: Call for a paradigm shift in ...

    African Journals Online (AJOL)

    But looking at these as investments in supported countries will significantly improve the outcome, health system impacts, as well as engineer sustainable health system strengthening and improvement. Such a re-branding will reduce the politics of support, improve effectiveness and efficiency in the use of the resources, and ...

  17. The impact of DOE building technology energy efficiency programs on U.S. employment, income, and investment

    International Nuclear Information System (INIS)

    Scott, Michael J.; Roop, Joseph M.; Schultz, Robert W.; Anderson, David M.; Cort, Katherine A.

    2008-01-01

    The U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy (EERE) analyzes the macroeconomic impacts of its programs that are designed to increase the energy efficiency of the U.S. residential and commercial building stock. The analysis is conducted using the Impact of Sector Energy Technologies (ImSET) model, a special-purpose 188-sector input-output model of the U.S. economy designed specifically to evaluate the impacts of energy efficiency investments and saving. For the analysis described in the paper, ImSET was amended to provide estimates of sector-by-sector capital requirements and investment. In the scenario of the Fiscal Year (FY) 2005 Building Technologies (BT) program, the technologies and building practices being developed and promoted by the BT program have the potential to save about 2.9 x 10 15 Btu in buildings by the year 2030, about 27% of the expected growth in building energy consumption by the year 2030. The analysis reported in the paper finds that, by the year 2030, these savings have the potential to increase employment by up to 446,000 jobs, increase wage income by $7.8 billion, reduce needs for capital stock in the energy sector and closely related supporting industries by about $207 billion (and the corresponding annual level of investment by $13 billion), and create net capital savings that are available to grow the nation's future economy

  18. Efficiency evaluation of China's investment in Africa under the background of constructing "Silk Road Economic Belt": Application of DEA model and Malmquist index method

    OpenAIRE

    Ze, Tian; Yumei, Fan; Chao, Liu

    2018-01-01

    In recent years, with implementation and propulsion of the strategic planning "One Belt and One Road" of China, quality and efficiency of China's foreign direct investment have increasingly become a focused issue. This paper utilizes the DEA model and Malmquist index method to select the data of China's investment in 20 countries of Africa and conducts the empirical research on dynamic evaluation of efficiency of China's direct investment in Africa. The result shows that the general efficienc...

  19. Investment risk management by applying contemporary modern portfolio theory

    Directory of Open Access Journals (Sweden)

    Jakšić Milena

    2015-01-01

    Full Text Available Investment risk is the principal threat to the assets side of the balance sheets of financial institutions. It is evident that investors who concentrate their wealth on one type of securities can rarely be found. Instead, they tend to invest diversified portfolio of securities. This reduces the degree of risk of the expected return, which depends both on the absolute risk of each investment in the portfolio, and the relationship that exists between individual investments within the portfolio. The paper analyzes the investment risk management by using modern portfolio theory in both national and global financial f lows. At the same time, the paper considers the risk management models that ensures efficient portfolio diversification, aiming at investment risk reduction. It is pointed out that the investment risk management in modern financial f lows is a complex process, and that the development of financial theory goes towards improving, soft risk management method.

  20. Improving methods estimation of the investment climate of the country

    Directory of Open Access Journals (Sweden)

    E. V. Ryabinin

    2016-01-01

    the most objective assessment of the investment climate in the country in order to build their strategies market functioning. The article describes two methods to obtain an estimate of the investment climate, a fundamental and expertise. Studies have shown that the fundamental method provides the most accurate and objective assessment of, but not all of the investment potential factors can be subjected to mathematical evaluation. The use of expert opinion on the practice of subjectivity difficult to experts, so its use requires special care. In modern economic practice it proved that the investment climate elements directly affect the investment decisions of companies. Improving the investment climate assessment methodology, it allows you to build the most optimal form of cooperation between investors from the host country. In today’s political tensions, this path requires clear cooperation of subjects, both in the domestic and international level. However, now, these measures will avoid the destabilization of Russia’s relations with foreign investors.

  1. Can we do better? Economic analysis of human resource investment to improve home care service for the elderly in Serbia.

    Science.gov (United States)

    Mihic, Marko M; Todorovic, Marija Lj; Obradovic, Vladimir Lj; Mitrovic, Zorica M

    2016-01-01

    Social services aimed at the elderly are facing great challenges caused by progressive aging of the global population but also by the constant pressure to spend funds in a rational manner. This paper focuses on analyzing the investments into human resources aimed at enhancing home care for the elderly since many countries have recorded progress in the area over the past years. The goal of this paper is to stress the significance of performing an economic analysis of the investment. This paper combines statistical analysis methods such as correlation and regression analysis, methods of economic analysis, and scenario method. The economic analysis of investing in human resources for home care service in Serbia showed that the both scenarios of investing in either additional home care hours or more beneficiaries are cost-efficient. However, the optimal solution with the positive (and the highest) value of economic net present value criterion is to invest in human resources to boost the number of home care hours from 6 to 8 hours per week and increase the number of the beneficiaries to 33%. This paper shows how the statistical and economic analysis results can be used to evaluate different scenarios and enable quality decision-making based on exact data in order to improve health and quality of life of the elderly and spend funds in a rational manner.

  2. Innovative financing for energy-efficiency improvements. Phase I report

    Energy Technology Data Exchange (ETDEWEB)

    Klepper, M.; Schwartz, H.K.; Feder, J.M.; Smith, D.C.; Green, R.H.; Williams, J.; Sherman, J.L.; Carroll, M.

    1982-01-01

    The use of utility-assisted financing, tax-exempt financing, bank financing, leasing, and joint venture financing to promote energy efficiency investments for each of three different categories of buildings (multifamily, commercial, and industrial) is discussed in separate chapters. (MCW)

  3. Subsidies for improving energy efficiency in residential buildings. A challenge in terms of economics and distribution policy; Subventionen zur Erhoehung der Energieeffizienz in Wohngebaeuden. Eine oekonomische und verteilungspolitische Herausforderung?

    Energy Technology Data Exchange (ETDEWEB)

    Dieckhoener, Caroline; Growitsch, Christian [Koeln Univ. (Germany). Energiewirtschaftliches Inst. (EWI)

    2013-01-15

    Improvements in the energy efficiency of buildings are seen as one of the decisive factors for the energy policy goals pursued by the EU and the German federal government. However, owners of residential buildings are showing themselves slow in taking measures for improving the energy efficiency of their properties. An obvious solution here is for the state to encourage investments by creating incentives to this end. A recent study suggests that in doing so one should distinguish between building owners and tenants and beware of bandwagon and problematic distribution effects. Furthermore, promotion measures should first of all be aimed at rental housing because this is where invested funds tend to be used most efficiently.

  4. Linking consumer energy efficiency with security of supply

    International Nuclear Information System (INIS)

    Rutherford, J.P.; Scharpf, E.W.; Carrington, C.G.

    2007-01-01

    Most modern energy policies seek to achieve systematic ongoing incremental increases in consumer energy efficiency, since this contributes to improved security of supply, favourable environmental outcomes and increased economic efficiency. Yet realised levels of efficiency are typically well below the most cost-effective equilibrium due to variety of behavioural and organisational barriers, which are often linked to information constraints. In addition efficient users are normally unrewarded for collective benefits to system security and to the environment, thus reducing the incentives for energy consumers to invest in efficiency improvements. This paper examines the dichotomies and symmetries between supply- and demand-side solutions to energy security concerns and reviews opportunities to overcome barriers to improved consumer efficiency. A security market is identified as a mechanism to promote both demand- and supply-side investments that support electricity system security. Such a market would assist in setting the optimal quantity of reserves while achieving an efficient balance between supply- and demand-side initiatives. It would also help to smooth overall investment throughout the energy system by encouraging incremental approaches, such as distributed generation and demand-side alternatives where they provide competitive value. Although the discussion is applicable to energy systems in general, it focuses primarily on electricity in New Zealand

  5. Cost-benefit assessment of energy efficiency investments: Accounting for future resources, savings and risks in the Australian residential sector

    International Nuclear Information System (INIS)

    Morrissey, J.; Meyrick, B.; Sivaraman, D.; Horne, R.E.; Berry, M.

    2013-01-01

    This article focuses on the impact of the discount rate on cost-benefit assessment of investment options for residential building efficiency. An integrated thermal modeling, life cycle costing approach is applied to an extensive sample of dominant house designs for Australian conditions. The relative significance of predicted thermal performance and the applied discount rate on the Present Value of energy savings from alternative investment scenarios is investigated. Costs and benefits are also evaluated at the economy-wide scale, including carbon pricing considerations, and for a test-case household faced with alternative investment options at the point of construction. The influence of the applied discount rate on produced cost-benefit calculations is investigated, as is the interaction between critical cost-benefit input parameters. Findings support that the discounting framework is the primary driver of difference in estimates about costs and benefits of higher standards of efficiency in the residential sector. Results demonstrate that agreement on a low discount rate based on sustainability principals would prioritise those projects with significant environmental benefits. - Highlights: ► High thermal efficiency is a key strategy to limit energy use in buildings. ► Integrated thermal modeling—life-cycle costing methods are applied to dominant house designs. ► The discounting framework is the primary driver of difference in observed costs. ► The selection of optimal performance investment options depends on the discount rate. ► Application of a discount rate of 3.5% or lower favours energy saving projects

  6. Static and dynamic efficiency of irreversible health care investments under alternative payment rules.

    Science.gov (United States)

    Levaggi, R; Moretto, M; Pertile, P

    2012-01-01

    The paper studies the incentive for providers to invest in new health care technologies under alternative payment systems, when the patients' benefits are uncertain. If the reimbursement by the purchaser includes both a variable (per patient) and a lump-sum component, efficiency can be ensured both in the timing of adoption (dynamic) and the intensity of use of the technology (static). If the second instrument is unavailable, a trade-off may emerge between static and dynamic efficiency. In this context, we also discuss how the regulator could use control of the level of uncertainty faced by the provider as an instrument to mitigate the trade-off between static and dynamic efficiency. Finally, we calibrate the model to study a specific technology and estimate the cost of a regulatory failure. Copyright © 2011 Elsevier B.V. All rights reserved.

  7. Preference and Priority in Federal Funding: Aligning Federal Resources to Maximize Program Investment Efficiency and Impacts in Communities

    Science.gov (United States)

    This page contains the document, Preference and Priority in Federal Funding: Aligning Federal Resources to Maximize Program Investment Efficiency and Impacts in Communities - Lessons from EPA’s Brownfields Program.

  8. An Information-Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment

    OpenAIRE

    Itay Goldstein; Assaf Razin

    2005-01-01

    The paper develops a model of foreign direct investments (FDI) and foreign portfolio investments (FPI).The model describes an information-based trade off between direct investments and portfolio investments. Direct investors are more informed about the fundamentals of their projects. This information enables them to manage their projects more efficiently. However, it also creates an asymmetric-information problem in case they need to sell their projects prematurely, and reduces the price they...

  9. The Fuel Efficiency of Maritime Transport. Potential for improvement and analysis of barriers

    Energy Technology Data Exchange (ETDEWEB)

    Faber, J.; Nelissen, D.; Smit, M. [CE Delft, Delft (Netherlands); Behrends, B. [Marena Ltd., s.l. (United Kingdom); Lee, D.S. [Manchester Metropolitan University, Machester (United Kingdom)

    2012-02-15

    There is significant potential to improve the fuel efficiency of ships and thus contribute to reducing greenhouse gas emissions from maritime transport. It has long been recognised that this potential is not being fully exploited, owing to the existence of non-market barriers. This report analyses the barriers to implementing fuel efficiency improvements, and concludes that the most important of these are the split incentive between ship owners and operators, a lack of trusted data on new technologies, and transaction costs associated with evaluating measures. As a result, in practice about a quarter of the cost-effective abatement potential is unavailable. There are several ways to overcome these barriers. The split incentive can - to some extent - be overcome by providing more detailed information on the fuel efficiency of vessels, making due allowance for operational profiles. This would allow fuel consumption to be more accurately projected and a larger share of efficiency benefits to accrue to ship owners, thus increasing the return on investment in fuel-saving technologies. This would also require changes to standard charter parties. The credibility of information on new technologies can be improved through intensive collaboration between suppliers of new technologies and shipping companies. In order to overcome risk, government subsidies could provide an incentive. This could have the additional benefit that governments could require publication of results.

  10. Voluntary agreements with white certificates for energy efficiency improvement as a hybrid policy instrument

    International Nuclear Information System (INIS)

    Oikonomou, V.; Patel, M.K.; Rietbergen, M.; Van der Gaast, W.

    2009-01-01

    In this paper we examine the implementation of a combined policy scheme that consists of a traditional instrument, the voluntary agreements (VAs), and an innovative one, the white certificates (WhC). The basic structure of this scheme is that energy suppliers who undertake an energy efficiency obligation under a white certificate scheme can make use of voluntary actions to enhance investments in innovative energy savings projects. Energy suppliers and other market parties can additionally or in parallel participate in voluntary agreements and set energy efficiency targets. For fulfilling their voluntary agreement target, these market parties can receive tax exemptions or receive white certificates that they can sell in the market. Transaction costs and baseline definition for demonstrating energy efficiency improvement deserve special attention. This policy can assist a country to enhance energy efficiency improvement while it stimulates innovation. Cost effectiveness can be higher than the case of stand-alone policy instruments, since more financing options are available for more expensive projects. Nevertheless, the added value of the scheme lies more in the implementation of innovative measures for enhanced energy efficiency. Furthermore, market parties can discover more business opportunities in energy efficiency and establish a green image; hence an integrated scheme should achieve higher political acceptability. (author)

  11. Pension Fund Investment Policy

    OpenAIRE

    Zvi Bodie

    1988-01-01

    The purpose of this paper is to survey what is known about the investment policy of pension funds. Pension fund investment policy depends critically on the type of plan: defined contribution versus defined benefit. For defined contribution plans investment policy is not much different than it is for an individual deciding how to invest the money in an Individual Retirement Account (IRA). The guiding principle is efficient diversification, that is, achieving the maximum expected return for any...

  12. Social Impact Investment: Increasing Private Sector Investment to ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    The social impact investment market is now global in scope and it is rapidly expanding in some ... of social impact investing to address environmental, social, and economic challenges. ... New project to improve water management in the Sahel.

  13. ANALYSIS OF EFFICIENCY OF INVESTMENT IN THE EU AGRICULTURAL FUNDS

    Directory of Open Access Journals (Sweden)

    Bojan Krstić

    2014-12-01

    Full Text Available The purpose of this paper is understanding of the importance of financial support for agricultural development and achieved results. The aim is an assessment of the importance of the European Union funds intended for agricultural and rural development. In accordance with the purpose and objectives of the research, we analyze the efficiency of investment in the European Union agricultural funds. Also, the interdependence between agriculture expenditures from the European Union funds and results achieved in agriculture in the European Union countries is examined in this paper. Homogeneity of the European Union countries, according to agricultural expenditures and agricultural results is analyzed. The results of this research highlight the importance of financial support provided from the European Union funds for agricultural and rural development.

  14. The employment impacts of economy-wide investments in renewable energy and energy efficiency

    Science.gov (United States)

    Garrett-Peltier, Heidi

    This dissertation examines the employment impacts of investments in renewable energy and energy efficiency in the U.S. A broad expansion of the use of renewable energy in place of carbon-based energy, in addition to investments in energy efficiency, comprise a prominent strategy to slow or reverse the effects of anthropogenic climate change. This study first explores the literature on the employment impacts of these investments. This literature to date consists mainly of input-output (I-O) studies or case studies of renewable energy and energy efficiency (REEE). Researchers are constrained, however, by their ability to use the I-O model to study REEE, since currently industrial codes do not recognize this industry as such. I develop and present two methods to use the I-O framework to overcome this constraint: the synthetic and integrated approaches. In the former, I proxy the REEE industry by creating a vector of final demand based on the industrial spending patterns of REEE firms as found in the secondary literature. In the integrated approach, I collect primary data through a nationwide survey of REEE firms and integrate these data into the existing I-O tables to explicitly identify the REEE industry and estimate the employment impacts resulting from both upstream and downstream linkages with other industries. The size of the REEE employment multiplier is sensitive to the choice of method, and is higher using the synthetic approach than using the integrated approach. I find that using both methods, the employment level per $1 million demand is approximately three times greater for the REEE industry than for fossil fuel (FF) industries. This implies that a shift to clean energy will result in positive net employment impacts. The positive effects stem mainly from the higher labor intensity of REEE in relation to FF, as well as from higher domestic content and lower average wages. The findings suggest that as we transition away from a carbon-based energy system to

  15. The cost efficiency of improved roof windows in two well-lit nearly zero-energy houses in Copenhagen

    DEFF Research Database (Denmark)

    Skarning, Gunnlaug Cecilie Jensen; Hviid, Christian Anker; Svendsen, Svend

    2017-01-01

    .The aim of this study was to quantify the scope for investing in improved roof window solutions inbuildings insulated to consume nearly zero-energy. Based on two single-family houses in Copenhagenwith typical roof windows and adequate daylighting, the study identified the prices at which various typesof......Roof windows are efficient and flexible daylight sources that are essential in certain types of houses if theyare to achieve sufficient daylighting throughout. Previous studies have indicated that, for such buildingsto meet nearly zero-energy targets in an easy and robust way without compromising...... roof window improvements would have to be made available to achieve the same cost efficiency asimproved insulation. If the improvements can be made available for less than these prices, the installationof improved roof windows would make it cheaper to construct well-lit and comfortable nearly zero...

  16. High-tech industries' overseas investment performance evaluation - Application of data envelopment analysis

    Directory of Open Access Journals (Sweden)

    Ridong Hu

    2013-12-01

    Full Text Available With the rapid change of the social environment, Mainland China has become a new economic market due to the great domestic demand caused by its enormous population and the increasing economic growth rate. Taiwanese businesses have gradually turned to develop in China under the pressure of increasing domestic wages and land costs for expanding factories as well as the enhancement of environmental protection. Mainland China presents the advantages of ample land, low labor costs, monoethnicity, and easy language communication making it an attractive major investment location for Taiwanese high-tech industries. Data Envelopment Analysis (DEA is applied to measure overseas investment efficiency evaluation of Taiwanese high-tech businesses in China, where the Delphi Method is used for selecting the inputs of the number of employees, R&D expenses, and gross sales in total assets. Sensitivity Analysis is further utilized for acquiring the most efficient unit and individual units with operating efficiency. The research results show that 1.Three high-tech businesses that present constant returns to scale perform optimally with overseas investment efficiency 2.Two high-tech companies with decreasing returns to scale appear that they could improve the overseas investment efficiency by decreasing the scale to enhancing the marginal returns, and 3.Sixteen high-tech enterprises reveal increasing returns to scale, showing that they could expand the scale to enhance the marginal returns and further promote efficiency.

  17. FROM EFFICIENT MARKET HYPOTHESIS TO BEHAVIOURAL FINANCE: CAN BEHAVIOURAL FINANCE BE THE NEW DOMINANT MODEL FOR INVESTING?

    Directory of Open Access Journals (Sweden)

    George BOROVAS

    2012-12-01

    Full Text Available The present paper reviews two fundamental investing paradigms, which have had a substantial impact on the manner investors tend to develop their own strategies. specifically, the study elaborates on efficient market hypothesis (emh, which, despite remaining most prominent and popular until the 1990s, is considered rather controversial and often disputed, and the theory of behavioural finance, which has increasingly been implemented in financial institutions. based on an extensive survey of behavioural finance and emh literature, the study demonstrates, despite any assertions, the inherent irrationality of the theory of efficient market, and discusses the potential reasons for its recent decline, arguing in favor of its replacement or co-existence with behavioural finance. in addition, the study highlights that the theory of behavioural finance, which endorses human behavioral and psychological attitudes, should become the theoretical framework for successful and profitable investing.

  18. EFFICIENCY OF THE INVESTMENT STRATEGY OF THE INSURANCE COMPANIES IN UKRAINE

    Directory of Open Access Journals (Sweden)

    R. Pikus

    2015-04-01

    Full Text Available The article explores the theoretical basis for the formation of an effective investment strategy of the insurance company. It was determined that, depending on the insurer’s conduct and risk factor and yield of funds, investment strategy can be aggressive, moderate and conservative. The main factors that characterize conservative, aggressive and moderately conservative investment strategy are defined. The characteristic of the structure of the investment portfolio of domestic insurance companies is determined. There are insurance companies which conduct an aggressive, conservative and moderately conservative investment strategy. In the article defined the main directions of investments of insurance companies in Ukraine which include bank deposits, government securities and shares. Determined that majority of insurance companies in the insurance market of Ukraine followed a conservative investment strategy which is the least risky. It is noted that in view of difficult economic situation in Ukraine, insurance companies need to develop an effective investment strategy to ensure their ability to pay.

  19. The impact of energy audits on energy efficiency investment of public owners. Evidence from Italy

    International Nuclear Information System (INIS)

    Barbetta, Gian Paolo; Canino, Paolo; Cima, Stefano

    2015-01-01

    Buildings are a promising area of energy savings, but a difference exists between actual and optimal investment in this field. The so called ‘information gap’ about the costs and benefits of energy-saving activities could explain the difference. Audit programs have been undertaken to overcome the ‘information gap’ but, surprisingly, most papers analyzing the impact of audits on the adoption of energy-saving measures use faulty methods that could provide biased results. In this paper we fill this gap of the energy literature. First, we introduce robust counterfactual methods to analyze the impact of energy-saving policies; second, we apply these methods to investigate the impact of the free-funding of audits on the energy-saving investments of local public administrations, a neglected area of investigation. As opposite to most of the literature, we cannot identify any statistically significant effect of the audits either on the number of energy-saving interventions or on the resources devoted to these activities by local public administrations. We believe that, in the field of public non-residential buildings, information is not sufficient to fostering public investments aimed at increasing energy efficiency. As a policy consequence, public resources should consider different tools, including those aimed at reducing the cost of investments. - Highlights: • Authors examining energy audits find positive effects, but use faulty methods. • We examine audits using un-biased methods of counterfactual analysis. • We use a unique set of data of audits in public non-residential facilities. • We cannot identify any effect of audits on energy-saving activities and investments. • In the field of public buildings, information is not enough to raising investments.

  20. AN APPROACH TO THE QUALITY IMPROVEMENT OF A MASSIVE INVESTMENT PROJECT BY INTEGRATING ICT AND QMS

    Directory of Open Access Journals (Sweden)

    Tamara Gvozdenovic

    2007-12-01

    Full Text Available This work has presented an approach to the quality improvement of an investment project by the change in the concept of project management. Building time of the investment project is a complex factor which needs a special attention. It is well known that the PERT method has been applied with long-lasting investment projects, where a big time distance brings about significant uncertainty of future situations. Microsoft Project 2002 and Matlab: Neural Network Toolbox are the software tools used for solving the problem of investment project management.

  1. Determinants of eco-efficiency in the Chinese industrial sector.

    Science.gov (United States)

    Fujii, Hidemichi; Managi, Shunsuke

    2013-12-01

    This study measures productive inefficiency within the context of multi-environmental pollution (eco-efficiency) in the Chinese industrial sector. The weighted Russell directional distance model is applied to measure eco-efficiency using production technology. The objective is to clarify how external factors affect eco-efficiency. The major findings are that both foreign direct investment and investment for pollution abatement improve eco-efficiency as measured by air pollutant substances. A levy system for wastewater discharge improves eco-efficiency as measured by wastewater pollutant substances. However, an air pollutant levy does not significantly affect eco-efficiency as measured by air pollutants. Copyright © 2013 The Research Centre for Eco-Environmental Sciences, Chinese Academy of Sciences. Published by Elsevier B.V. All rights reserved.

  2. Targeting utility customers to improve energy savings from conservation and efficiency programs

    International Nuclear Information System (INIS)

    Taylor, Nicholas W.; Jones, Pierce H.; Kipp, M. Jennison

    2014-01-01

    Highlights: • Improving DSM program impacts by targeting high energy users. • DSM energy savings potential hinges on pre-participation performance. • Targeting can benefit different utilities and energy efficiency programs. • Overall performance can be improved by up to 250% via targeting strategies. - Abstract: Electric utilities, government agencies, and private interests in the US have committed and continue to invest substantial resources – including billions of dollars of financial capital – in the pursuit of energy efficiency and conservation through demand-side management (DSM) programs. While most of these programs are deemed to be cost effective, and therefore in the public interest, opportunities exist to improve cost effectiveness by targeting programs to those customers with the greatest potential for energy savings. This article details an analysis of three DSM programs offered by three Florida municipal electric utilities to explore such opportunities. First, we estimate programs’ energy savings impacts; second, we measure and compare energy savings across subgroups of program participants as determined by their pre-intervention energy performance, and third, we explore potential changes in program impacts that might be realized by targeting specific customers for participation in the DSM programs. All three programs resulted in statistically significant average (per-participant) energy savings, yet average savings varied widely, with the customers who performed best (i.e., most efficient) before the intervention saving the least energy and those who performed worst (i.e., least efficient) before the intervention saving the most. Assessment of alternative program participation scenarios with varying levels of customer targeting suggests that program impacts could be increased by as much as 80% for a professional energy audit program, just over 100% for a high-efficiency heat pump upgrade program, and nearly 250% for an attic insulation

  3. ECONOMIC ESSENCE OF MODERN INVESTMENT PROCESSES IN THE GRAIN PROCESSING INDUSTRY

    Directory of Open Access Journals (Sweden)

    Inna Kanashkina

    2015-11-01

    Full Text Available The subject of the research is theoretical and methodological bases of formation of effective investment in priorities feed processing industry in Ukraine. The object of research is the investment process in feed processing Ukrainian industry, the main direction and the way to increase the efficiency of the investment process in the industry. The aim is to develop an integrated approach to the study of the economic substance of investments to improve the methods to determine their effectiveness, the study of factors of investment environment, study methodology for determining business risk, development of proposals of the priority areas of investing in feed processing industry, the formation of effective investment strategies for its development in the conditions of market transformation. Methods. We used the following methods: dialectical, abstract logic, Economics and Statistics and the systemic-functional methods of knowledge of economic processes. The dialectical method has allowed the author to analyze the development of research in the last five years, identified reserves and propose ways for its further development. Abstract-logical method of waste classification of the factors influencing the efficiency of the investment process in the industry, the methodological approaches to the formation of the components of the conceptual apparatus studied category. Economic-statistical method used in the study and synthesis of trends and patterns of the dynamics of the industry at the present stage. Systemic-functional method allowed to generalize the theoretical and methodological foundations of development effectiveness feed processing industry. The study also used methods: a comparative analysis – for comparing actual data reporting and previous years; model approach – to determine the entrepreneurial risk in the enterprises of the industry; expert assessments and cost approaches to identify key trends and ways to improve the country

  4. Increased water charges improve efficiency and equity in an irrigation system

    Directory of Open Access Journals (Sweden)

    Andrew Reid. Bell

    2016-09-01

    Full Text Available Conventional wisdom in many agricultural systems across the world is that farmers cannot, will not, or should not pay the full costs associated with surface water delivery. Across Organisation for Economic Co-operation and Development (OECD countries, only a handful can claim complete recovery of operation, maintenance, and capital costs; across Central and South Asia, fees are lower still, with farmers in Nepal, India, and Kazakhstan paying fractions of a U.S. penny for a cubic meter of water. In Pakistan, fees amount to roughly USD 1-2 per acre per season. However, farmers in Pakistan spend orders of magnitude more for diesel fuel to pump groundwater each season, suggesting a latent willingness to spend for water that, under the right conditions, could potentially be directed toward water-use fees for surface water supply. Although overall performance could be expected to improve with greater cost recovery, asymmetric access to water in canal irrigation systems leaves the question open as to whether those benefits would be equitably shared among all farmers in the system. We develop an agent-based model (ABM of a small irrigation command to examine efficiency and equity outcomes across a range of different cost structures for the maintenance of the system, levels of market development, and assessed water charges. We find that, robust to a range of different cost and structural conditions, increased water charges lead to gains in both efficiency and concomitant improvements in equity as investments in canal infrastructure and system maintenance improve the conveyance of water resources further down watercourses. This suggests that, under conditions in which (1 farmers are currently spending money to pump groundwater to compensate for a failing surface water system, and (2 there is the possibility that through initial investment to provide perceptibly better water supply, genuine win-win solutions can be attained through higher water-use fees to

  5. Mathematical description of information interaction in investment and construction activities

    Directory of Open Access Journals (Sweden)

    Sborshchikov Sergey Borisovich

    2014-05-01

    Full Text Available For effective management of investment and construction activity (ICA there must be a subsystem responsible for information interaction. The article considers the role of information in ICA, as well as the requirements and objectives of the information systems. Data collection, communication and processing, according to the authors, reflect the system running efficiency. Thanks to information security subsystem there is a possibility of measuring the efficiency of resource use and the relations between inputs and outputs of individual elements throughout investment and construction activities. Requirements of modern economic realities, particularly, investment and construction activities dynamics, should be adjusted to the flow of information: creating new connections, terminating the others. Developing the information management system, its structure and composition require consideration and planning. Development planning and management is closely related to the improvement of information links and upgrading the entire system of information security, its structure and functioning.

  6. Coordinating a Supply Chain When Manufacturer Makes Cost Reduction Investment in Supplier

    Directory of Open Access Journals (Sweden)

    Shilei Huang

    2016-01-01

    Full Text Available We consider a supply chain consisting of an upstream supplier and a downstream manufacturer, in which the supplier provides a component to the manufacturer, facing a price-sensitive and uncertain demand. The manufacturer makes cost reduction investment in the supplier to improve the supplier’s production efficiency, which benefits the entire supply chain. We derive the optimal investment and operating decisions. Both the centralized and decentralized supply chains are studied. We show that the optimal investment and operating decisions in the decentralized setting may deviate from that in the centralized setting. To avoid the profit loss caused by such a deviation, we develop a coordination mechanism by introducing a combined policy of revenue-sharing policy and investment cost-sharing policy. We also show that the developed coordination mechanism can achieve Pareto improvement for the two players.

  7. Encouraging energy efficiency: Policies and programs

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    Successfully overcoming the barriers to higher energy efficiency requires development of policies designed for specific users and locations. Reform of energy pricing, which entails removing subsidies and beginning internalization of externalities, is critical to give technology producers and users proper signals for investment and management decisions. But while a rise in energy prices increases the amount of energy-efficiency improvement that is cost-effective, it does not remove other barriers that deter investment. Minimum efficiency standards or agreements can raise the market floor, and are important because they affect the entire market in the near-term. But they may not raise the celining very much, and do little to push the efficiency frontier. To accomplish these goals, incentives and other market-development strategies are needed. Utility programs in particular can play a key role in pushing energy efficiency beyond the level where users are likely to invest on their own. Policies, programs, and pricing should complement one another. Pricing reform alone will not overcome the many entrenched barriers to higher energy efficiency, but trying to accelerate energy efficiency improvement without addressing energy pricing problems will lead to limited success. Whether tagerting new equipment or management of existing systems, policies must reflect a thorough understanding of the particular system and an awareness of the motivations of the actors. 25 refs

  8. China's energy saving potential from the perspective of energy efficiency advantages of foreign-invested enterprises

    International Nuclear Information System (INIS)

    Jiang, Xuemei; Zhu, Kunfu; Green, Christopher

    2015-01-01

    The paper investigates the energy saving potential associated with firm ownership-related differences in energy efficiency such as those between domestically and foreign-owned firms. Because of a gap in official statistics this topic has barely been touched upon in the scholarly literature. This paper employs a new energy input–output table that distinguishes firm ownership (Chinese owned enterprises, COEs; and foreign-invested enterprises, FIEs) and trade mode (export processing and normal goods production) to analyze the energy efficiency advantage of FIEs in China in 2007. The results show that the total energy intensities of COEs in the industrial sector are generally 5%–35% higher than that of FIEs across industry groups. At an aggregate level, China could save up to 20.3% of its energy use, if industrial COEs could duplicate the energy use efficiency and production technology of FIEs. This gain would require major technology upgrades among COEs. - Highlights: • A new input–output table distinguishing firm ownership and trade mode is employed. • The foreign-invested enterprises are 5%–35% energy efficient than Chinese enterprises in 2007. • China could save 20.3% of energy use if industrial COEs could duplicate the technologies of FIEs

  9. Financial Performance of Korea's Overseas Companies and Policy Recommendations for Improving Efficiency

    Directory of Open Access Journals (Sweden)

    Yunjong Wang

    1998-03-01

    Full Text Available As part of globalization, elite multinational companies are actively promoting foreign direct investment, In order to adapt to the globalization trend, large from the middle of 1990s enterprises have helped South Korea to launch the large-scale oversea investment by contributing in it. However, foreign direct investment by Korean companies in operating results has yet to achieve satisfactory results. Under IMF's project, South Korean economy is facing the need for restructuring, and corporate restructuring has become an important issue. Because South Korea domestic enterprises foreign popularity fell sharply and overseas borrowings, lead to deterioration in the terms of the South Korean companies overseas direct investment activities atrophy. In this case, the enterprise's overseas direct investment form and strategic should also have comprehensive change on a scale. It should get rid of external, quantitative growth, but change to efficient strategy.

  10. Tool to Prioritize Energy Efficiency Investments

    Energy Technology Data Exchange (ETDEWEB)

    Farese, Philip [National Renewable Energy Lab. (NREL), Golden, CO (United States); Gelman, Rachel [National Renewable Energy Lab. (NREL), Golden, CO (United States); Hendron, Robert [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2012-08-01

    To provide analytic support of the U.S. Department of Energy's Office of the Building Technology Program (BTP), NREL developed a Microsoft Excel-based tool to provide an open and objective comparison of the hundreds of investment opportunities available to BTP. This tool uses established methodologies to evaluate the energy savings and cost of those savings.

  11. Efficient capacity investment and joint production agreements in an oligopolistic electricity market: The HidroAysen joint venture project

    International Nuclear Information System (INIS)

    Raineri, Ricardo; Contreras, Gonzalo

    2010-01-01

    We develop a model for a power market with the characteristics of the Chilean power supply industry, which is an integrated system with a system operator (SO) with a vast authority to define the dispatch of the system. We evaluate whether a large joint power generator project made up by the two largest power generators is an anti-competitive project. Considering four investment technologies for power generation, namely, hydro, coal, diesel, and an advantageous hydro technology which can only be built in a large scale (HidroAysen) for the joint venture case, we use an oligopolistic Cournot model and a Benevolent Social Planner, both calibrated to the Chilean power industry, in order to assess the efficiency of alternative investment strategies and conditions whether the HidroAysen joint venture project can be barred to be judged as anti-competitive. Results suggest that the joint venture is an efficient investment and there is a pro-competitive behaviour on the part of the two power generators, and that there are benefit to consumers, who should expect non-increasing energy prices as a result of the advantageous hydrotechnology.

  12. Comparative study of the efficiency of public supports to investments in energy management in the European Union

    International Nuclear Information System (INIS)

    Scheuer, Stefan; Ballu, Matthieu; Di Stefano, Paolo

    2013-01-01

    This study proposes a detailed overview of public budgets invested by the different member States of the European Union via subsidy systems, loans or tax arrangements in order to support investments in energy efficiency in buildings. The author also studied results published for these public instruments in terms of energy savings, and proposed a comparison which takes the lifetime of these savings into account. The study is based on available official information. Thus, before presenting the obtained results, the author describes how data have been collected and harmonised, presents the comparative analysis and discusses the lifetime measurement issue

  13. The Heterogeneous Investment Horizon and Dynamic Strategies for Asset Allocation

    Science.gov (United States)

    Xiong, Heping; Xu, Yiheng; Xiao, Yi

    This paper discusses the influence of the portfolio rebalancing strategy on the efficiency of long-term investment portfolios under the assumption of independent stationary distribution of returns. By comparing the efficient sets of the stochastic rebalancing strategy, the simple rebalancing strategy and the buy-and-hold strategy with specific data examples, we find that the stochastic rebalancing strategy is optimal, while the simple rebalancing strategy is of the lowest efficiency. In addition, the simple rebalancing strategy lowers the efficiency of the portfolio instead of improving it.

  14. Can we do better? Economic analysis of human resource investment to improve home care service for the elderly in Serbia

    Directory of Open Access Journals (Sweden)

    Mihic MM

    2016-01-01

    Full Text Available Marko M Mihic, Marija Lj Todorovic, Vladimir Lj Obradovic, Zorica M Mitrovic Department for Management and Specialised Management Disciplines, Faculty of Organisational Sciences, University of Belgrade, Belgrade, Serbia Background: Social services aimed at the elderly are facing great challenges caused by progressive aging of the global population but also by the constant pressure to spend funds in a rational manner.Purpose: This paper focuses on analyzing the investments into human resources aimed at enhancing home care for the elderly since many countries have recorded progress in the area over the past years. The goal of this paper is to stress the significance of performing an economic analysis of the investment.Methods: This paper combines statistical analysis methods such as correlation and regression analysis, methods of economic analysis, and scenario method.Results: The economic analysis of investing in human resources for home care service in Serbia showed that the both scenarios of investing in either additional home care hours or more beneficiaries are cost-efficient. However, the optimal solution with the positive (and the highest value of economic net present value criterion is to invest in human resources to boost the number of home care hours from 6 to 8 hours per week and increase the number of the beneficiaries to 33%.Conclusion: This paper shows how the statistical and economic analysis results can be used to evaluate different scenarios and enable quality decision-making based on exact data in order to improve health and quality of life of the elderly and spend funds in a rational manner. Keywords: home care, social investment, human resources, economic analysis, elderly

  15. Essays on electricity transmission investment and financial transmission rights

    Science.gov (United States)

    Shang, Wenzhuo

    The U.S. electric power industry has been going through fundamental restructuring and realignment since the 1990's. Many issues and problems have emerged during the transition, and both economists and engineers have been looking for the solutions fervently. In this dissertation, which consists primarily of three essays, we apply economics theory and techniques to the power industry and address two related issues, transmission investment and financial transmission rights (FTRs). The first essay takes the decentralized perspective and investigates the efficiency attribute of market-based transmission investment under perfect competition. We clarify, for the first time, the nature of the externality created by loop flows that causes transmission investment to be inefficient. Our findings have important implications for better understanding of transmission market design and creating incentives for efficient transmission investment. In the second essay, we define several rules for allocating transmission investment cost within the framework of cooperative game theory. These rules provide fair, stable or efficient cost allocations in theory and are good benchmarks against which the allocation mechanism in practice can be compared and improved upon. In the last essay, we make exploratory efforts in analyzing and assessing empirically the performance of the Midwest independent system operator (MISO) FTR auction market. We reveal some stylized facts about this young market and find that it is not efficient under the risk-neutrality assumption. We also point out and correct the drawbacks in previous related work and suggest about more complete empirical work in future. In all, this dissertation makes both theoretic and empirical analysis of the two hot issues related to the power industry and comes up with findings that have important implications for the development of this industry.

  16. TV Energy Consumption Trends and Energy-Efficiency Improvement Options

    Energy Technology Data Exchange (ETDEWEB)

    Park, Won Young; Phadke, Amol; Shah, Nihar; Letschert, Virginie

    2011-07-01

    The SEAD initiative aims to transform the global market by increasing the penetration of highly efficient equipment and appliances. SEAD is a government initiative whose activities and projects engage the private sector to realize the large global energy savings potential from improved appliance and equipment efficiency. SEAD seeks to enable high-level global action by informing the Clean Energy Ministerial dialogue as one of the initiatives in the Global Energy Efficiency Challenge. In keeping with its goal of achieving global energy savings through efficiency, SEAD was approved as a task within the International Partnership for Energy Efficiency Cooperation (IPEEC) in January 2010. SEAD partners work together in voluntary activities to: (1) ?raise the efficiency ceiling? by pulling super-efficient appliances and equipment into the market through cooperation on measures like incentives, procurement, awards, and research and development (R&D) investments; (2) ?raise the efficiency floor? by working together to bolster national or regional policies like minimum efficiency standards; and (3) ?strengthen the efficiency foundations? of programs by coordinating technical work to support these activities. Although not all SEAD partners may decide to participate in every SEAD activity, SEAD partners have agreed to engage actively in their particular areas of interest through commitment of financing, staff, consultant experts, and other resources. In addition, all SEAD partners are committed to share information, e.g., on implementation schedules for and the technical detail of minimum efficiency standards and other efficiency programs. Information collected and created through SEAD activities will be shared among all SEAD partners and, to the extent appropriate, with the global public.As of April 2011, the governments participating in SEAD are: Australia, Brazil, Canada, the European Commission, France, Germany, India, Japan, Korea, Mexico, Russia, South Africa, Sweden

  17. Commercial mortgages: An underutilized channel for scaling energy efficiency investments?

    Energy Technology Data Exchange (ETDEWEB)

    Mathew, Paul; Wallace, Nancy; Alschuler, Elena; Kolstad, Leonard

    2016-02-01

    Commercial mortgages currently do not fully account for energy factors in underwriting and valuation, particularly as it relates to the impact of energy costs and volatility on an owner’s net operating income. As a consequence, energy efficiency is not properly valued and energy risks are not properly assessed and mitigated. Commercial mortgages are a large lever and could be a significant channel for scaling energy efficiency investments. A pilot analysis of loans with different mortgage contract structures and locations showed that when energy cost volatility was included in mortgage valuation, a 20% reduction in energy use resulted in a 1.3% average increase in mortgage value. This suggests that the explicit inclusion of energy use and volatility in mortgage valuation can send a strong price signal that financially rewards and values energy efficiency in commercial properties. This paper presents findings from a scoping study addressing energy factors in commercial mortgages. First, we present a review of current practices as it relates to incorporating energy factors into commercial mortgage underwriting and valuation. Next, we detail the impacts of energy factors on property values, net operating income and mortgage valuation. Building operational practices alone can result in energy use variations from -17% to 87%. Finally, we present a set of proposed interventions to properly address energy factors in commercial mortgages, based on extensive discussions with stakeholders including mortgage originators, underwriters, building owners and regulators.

  18. Investment Avenues

    Science.gov (United States)

    Jain, Priyanka

    2012-11-01

    Investors are a heterogeneous group, they may be large or small, rich or poor, expert or lay man and not all investors need equal degree of protection (Mayya, 1996). An investor has three objectives while investing his money, namely safety of invested money, liquidity position of invested money and return on investment. The return on investment may further be divided into capital gain and the rate of return on investment as interest or dividend. Among all investment options available, securities are considered the most challenging as well as rewarding. Securities include shares, debentures, derivatives, units of mutual funds, Government securities etc. An investor may be an individual or corporate legal entity investing funds with a view to derive maximum economic advantage from investment such as rate of return, capital appreciation, marketability, tax advantage and convenience of investment.The Capital market facilitates mobilization of savings of individuals and pools them into reservoir of capital which can be used for the economic development of a country. An efficient capital market is essential for raising capital by the corporate sector of the economy and for the protection of the interest of investors in corporate securities. There arises a need to strike a balance between raising of capital for economic development on one side and protection of investors on the other. Unless the interests of investors are protected, raising of capital, by corporates is not possible. Like, the primary objective of a senior citizenís asset allocation is the generation of regular income.

  19. The benefit of the Dutch Energy Investment Allowance (EIA) for high-efficiency installations in industrial buildings; EIA maakt hr-apparatuur voor bedrijfsgebouwen voordelig

    Energy Technology Data Exchange (ETDEWEB)

    De Boer, A. [ed.

    1998-02-01

    Gas-fired condensing appliances for space heating of industrial buildings are more expensive than appliances that do not show a high efficiency. In many cases, however, it is still cheaper to invest in condensing appliances. Not only because of lower exploitation costs, but also because of the ISO-high-efficiency subsidy regulation (`ISO-hr`), the energy investment allowance (EIA) and the energy conservation fund. The technologies that are eligible for the EIA are listed in the `Energielijst` (energy list) for 1998

  20. Restructuring and energy efficiency improvement of the Bulgarian energy economy

    International Nuclear Information System (INIS)

    Moumdjian, G.

    1993-01-01

    The structure of the national energy economy of Bulgaria implies characteristic features that specify low efficiency as regards power production, ecology and economics. Even the qualitative assessments show that these indices stand far away from the standards established in developed countries like Denmark, Finland, Sweden, etc. The best starting position for harmful energy efficiency improvement as well as emission reduction must be based on the restructuring of energy economy. The strategy of restructuring and development of energy economy covers the whole integrated national energy flow system 'resources - end user'. The preliminary study shows that energy efficiency can be increased by 25-30% within a period of 6-10 years using the least-cost investment strategy (including the research and development activities expenses). The study covers the existing structure of energy sector. Scenarios are being elaborated for its development and restructuring in respect to: heat production and transfer; electricity generation and transmission; energy consumption and conservation in residential buildings, public buildings and commercial sector; energy consumption in transport sector and agriculture. The approach for identification of the real potential opportunities in relation to the above stated areas is based on mathematical statistics and stochastic differential equations, multicriterial assessments, approach of self organisation systems and demand-side management. (author)

  1. Billions on the Sidewalk: Improving Savings by Reducing Investment Mistakes

    OpenAIRE

    Ugo Panizza

    2015-01-01

    This paper contributes the on-going debate on income inequality in advanced economies with a proposal aimed at reducing costly investment mistakes that are prevalent among middle-class households. The paper starts by describing how households should invest, compares it with what we know about how households do invest, and highlights discrepancies between the two (investment mistakes). After evaluating the costs of investment mistakes, the paper suggests that they could be reduced by accommoda...

  2. Providing Demonstrable Return-on-Investment for Organisational Learning and Training

    Science.gov (United States)

    Elliott, Michael; Dawson, Ray; Edwards, Janet

    2009-01-01

    Purpose: The aim of this paper is to present a holistic approach to training, that clearly demonstrates cost savings with improved effectiveness and efficiencies that are aligned to business objectives. Design/methodology/approach: Extending Kirkpatrick's evaluation framework with Phillips's return-on-investment (ROI) concepts, the paper conveys a…

  3. Barriers to energy efficiency improvement. Empirical evidence from small-and-medium-sized enterprises in China

    Energy Technology Data Exchange (ETDEWEB)

    Kostka, Genia; Moslener, Ulf; Andreas, Jan G.

    2012-07-01

    This paper analyzes barriers for energy efficiency investments for small-and medium-sized enterprises (SMEs) in China. Based on a survey of 480 SMEs in Zhejiang Province, this study assesses financial, informational, and organizational barriers for energy efficiency investments in the SME sector. The conventional view has been that the lack of appropriate financing mechanisms particularly hinders SMEs to adopt cost-effective energy efficiency measures. As such, closing the financing gap for SMEs is seen as a prerequisite in order to promote energy efficiency in the sector. The econometric estimates of this study, however, suggest that access to information is an important determinant of investment outcomes, while this is less clear with respect to financial and organizational factors. More than 40 percent of enterprises in the sample declared that that they are not aware of energy saving equipments or practices in their respective business area, indicating that there are high transaction costs for SMEs to gather, assess, and apply information about energy saving potentials and relevant technologies. One implication is that the Chinese government may assume an active role in fostering the dissemination of energy-efficiency related information in the SME sector. (orig.)

  4. Air compressor efficiency in a Vietnamese enterprise

    Energy Technology Data Exchange (ETDEWEB)

    Yang, Ming [3E and T International, Suite 1506, Building No. 10, Luo Ma Shi Street, Xuan Wu District, Beijing 100052 (China)

    2009-06-15

    Compressed air systems in a Vietnamese footwear manufacturing enterprise consume about 10% of enterprise's total electric power supply. Energy efficiency of these air compressor systems, either equipped with new and efficient compressors or old and inefficient ones, can only reach between 5% and 10%. In other words, regardless whatever air compressors were installed, energy loss from the compressor systems was over 80%. This study discovered that energy loss was due to non-optimized operations of the air compressor systems and air leakages. The objectives of the paper are to uncover energy saving potential in Vietnamese air compressor systems, demonstrate methodologies used in the auditing and assessment, share auditing and assessment results, and serve a guide on how to analyze energy efficiency in a compressed air system. This paper concludes that energy efficiency investment in air compressor systems in the Vietnamese enterprise could be extremely cost-effective. If the enterprise invests USD 84,000 in the air compressors to improve efficiency performance, the investment capital will be recovered in about six months. The net present value of the investment will be about USD 864,000 at a discount rate of 12%. (author)

  5. Air compressor efficiency in a Vietnamese enterprise

    Energy Technology Data Exchange (ETDEWEB)

    Yang Ming [3E and T International, Suite 1506, Building No. 10, Luo Ma Shi Street, Xuan Wu District, Beijing 100052 (China)], E-mail: ming.yang7@gmail.com

    2009-06-15

    Compressed air systems in a Vietnamese footwear manufacturing enterprise consume about 10% of enterprise's total electric power supply. Energy efficiency of these air compressor systems, either equipped with new and efficient compressors or old and inefficient ones, can only reach between 5% and 10%. In other words, regardless whatever air compressors were installed, energy loss from the compressor systems was over 80%. This study discovered that energy loss was due to non-optimized operations of the air compressor systems and air leakages. The objectives of the paper are to uncover energy saving potential in Vietnamese air compressor systems, demonstrate methodologies used in the auditing and assessment, share auditing and assessment results, and serve a guide on how to analyze energy efficiency in a compressed air system. This paper concludes that energy efficiency investment in air compressor systems in the Vietnamese enterprise could be extremely cost-effective. If the enterprise invests USD 84,000 in the air compressors to improve efficiency performance, the investment capital will be recovered in about six months. The net present value of the investment will be about USD 864,000 at a discount rate of 12%.

  6. Air compressor efficiency in a Vietnamese enterprise

    International Nuclear Information System (INIS)

    Yang Ming

    2009-01-01

    Compressed air systems in a Vietnamese footwear manufacturing enterprise consume about 10% of enterprise's total electric power supply. Energy efficiency of these air compressor systems, either equipped with new and efficient compressors or old and inefficient ones, can only reach between 5% and 10%. In other words, regardless whatever air compressors were installed, energy loss from the compressor systems was over 80%. This study discovered that energy loss was due to non-optimized operations of the air compressor systems and air leakages. The objectives of the paper are to uncover energy saving potential in Vietnamese air compressor systems, demonstrate methodologies used in the auditing and assessment, share auditing and assessment results, and serve a guide on how to analyze energy efficiency in a compressed air system. This paper concludes that energy efficiency investment in air compressor systems in the Vietnamese enterprise could be extremely cost-effective. If the enterprise invests USD 84,000 in the air compressors to improve efficiency performance, the investment capital will be recovered in about six months. The net present value of the investment will be about USD 864,000 at a discount rate of 12%.

  7. Network investments and the integration of distributed generation: Regulatory recommendations for the Dutch electricity industry

    International Nuclear Information System (INIS)

    Niesten, Eva

    2010-01-01

    An increase in the distributed generation of electricity necessitates investments in the distribution network. The current tariff regulation in the Dutch electricity industry, with its ex post evaluation of the efficiency of investments, average benchmarking and a frontier shift in the x-factor, delays these investments. In the unbundled electricity industry, the investments in the network need to be coordinated with those in the distributed generation of electricity to enable the system operators to build enough network capacity. The current Dutch regulations do not provide for a sufficient information exchange between the generators and the system operators to coordinate the investments. This paper analyses these two effects of the Dutch regulations, and suggests improvements to the regulation of the network connection and transportation tariffs to allow for sufficient network capacity and coordination between the investments in the network and in the generation of electricity. These improvements include locally differentiated tariffs that increase with an increasing concentration of distributed generation.

  8. Public preferences for investments in renewable energy production and energy efficiency

    International Nuclear Information System (INIS)

    Noblet, Caroline L.; Teisl, Mario F.; Evans, Keith; Anderson, Mark W.; McCoy, Shannon; Cervone, Edmund

    2015-01-01

    In this paper we investigate the choices citizens make when asked to express willingness to support a proposed energy policy and are then compelled to allocate the program funds to either renewable energy or energy efficiency. In a survey study based on a random sample of residents of the state of Maine, USA, we find that citizens have preferences for specific types of renewable energy but these preferences do not yield significantly different allocation of investment funds between renewable energy and energy efficiency. We find that preferences are generally consistent regardless of presentation of options (i.e. limited ordering effects). Our results also indicate that personal characteristics that are understudied in the energy literature, including promotion/prevention focus and social/fiscal leanings, influence both willingness to support energy policies and also their allocation of fund choices, but in different ways. This suggests the importance of including multiple options in energy policy proposals, and that targeted messages regarding the components of such policies is key for optimal communication. - Highlights: • Support for energy policies depends on the type of renewable energy included. • Citizens chose to allocate more funds to energy efficiency than renewable energies. • Promotion or prevention focus impacts support for policy and allocation decisions. • Social and fiscal leanings impact support and allocation, in different ways.

  9. 76 FR 78343 - HOME Investment Partnerships Program: Improving Performance and Accountability; and Updating...

    Science.gov (United States)

    2011-12-16

    ... CFR Parts 91 and 92 HOME Investment Partnerships Program: Improving Performance and Accountability... Performance and Accountability; and Updating Property Standards AGENCY: Office of the Assistant Secretary for... regulatory requirements and establish new requirements designed to enhance accountability by States and units...

  10. Promotion of energy efficiency in enterprises

    International Nuclear Information System (INIS)

    Beltrani, G.; Schelske, O.; Peter, D.; Oettli, B.

    2003-01-01

    This comprehensive report for the Swiss Federal Office of Energy (SFOE) presents the results of a study made within the framework of the research programme on energy-economics fundamentals on how the energy efficiency of enterprises can be improved. The report first examines the present state of affairs in Swiss enterprises and looks into the interaction of energy efficiency and environmental management systems. ISO 14001 certification is discussed and examples are given of the responses of various enterprises to a survey concerning the role of energy efficiency in environmental management. Both hindrances and success factors for the embedding of energy-efficiency measures in environmental management activities are discussed and examples are given. Instruments available in Switzerland and from abroad that can be used to promote energy efficiency in enterprises are discussed. Four particular instruments are presented; guidelines and computer-based tools that help in the making of energy-relevant investment decisions, incentives to take part in an energy-benchmark system for small and medium-sized enterprises (SME), low-interest loans for investments in energy-efficiency for SMEs and the closer definition of 'continuous improvement' of energy efficiency within the framework of ISO 14001. The results of a survey amongst those involved are discussed. The report is concluded with recommendations for the implementation of the guidelines and for improvements in the integration of energy efficiency in environmental management systems

  11. Determinants of households’ investment in energy efficiency and renewables: evidence from the OECD survey on household environmental behaviour and attitudes

    International Nuclear Information System (INIS)

    Ameli, Nadia; Brandt, Nicola

    2015-01-01

    This paper provides novel evidence on the main factors behind consumer choices regarding investments in energy efficiency and renewable energy technologies using the OECD Survey on Household Environmental Behaviour and Attitudes. The empirical analysis is based on the estimation of binary logit regression models. Empirical results suggest that households’ propensity to invest in clean energy technologies depends mainly on home ownership, income, social context and household energy conservation practices. Indeed, home owners and high-income households are more likely to invest than renters and low-income households. In addition, environmental attitudes and beliefs, as manifest in energy conservation practices or membership in an environmental non-governmental organisation, also play a relevant role in technology adoption. (letter)

  12. Energy efficiency improvement procedures and audit results of electrical, thermal and solar applications in Palestine

    International Nuclear Information System (INIS)

    Ibrik, I.H.; Mahmoud, M.M.

    2005-01-01

    Energy conservation in utilities has played a vital role in improving energy efficiency in the industrial, commercial and residential sectors. The electrical energy consumption in Palestine has increased sharply in the past few years and achieved by the end of 2001 to 10% per year. It is expected that this percentage will increase to about 12% if the current political situation will end hopefully with peace. Modern energy efficient technologies are needed for the national energy policy. Such technologies are investigated in this paper. Implementing of a national 3 years project aiming at energy efficiency improvement in residential and industrial sectors as well as in public utilities, which include wide range of diversified audits and power measurements, had led to creating this paper. Measurement and audit results had shown that the total conservation potential in these sectors is around 15% of the total energy consumption. The associated costs of the investment in this field are relatively low and correspond to a pay back period varying in the range from 6 to 36 months. Consequently, the energy conservation policy will be seriously improved in the forthcoming years. It is estimated that 10% of the new energy purchasing capacity will be reduced accordingly

  13. Improving efficiency and effectiveness in natural gas regulation : discussion paper

    International Nuclear Information System (INIS)

    Rounding, M.C.

    2004-11-01

    Energy market liberalization is a world trend that has prompted the deregulation of natural gas and electricity over the past twenty years in North America. The Ontario Energy Board and the National Energy Board are conducting public hearings on natural gas regulation in response to the request by Canadian energy industries for better regulatory streamlining. The following 5 issues regarding natural gas regulation in Canada have been examined: (1) system gas in a regulated market, (2) natural gas infrastructure investments and capital renewal, (3) improving efficiency in gas regulation, (4) expectations of performance-based regulation (PBR) in the natural gas industry, and (5) the debate whether further deregulation of the natural gas industry is beneficial. This paper discusses the impact that natural gas regulation has had on the efficiency and competitiveness of the industry and its affect on customers and other stakeholders. It focuses on the efficiency of the regulatory process and examines regulatory objectives, best practices and performance indicators. The factors that determine the efficiency of natural gas regulation include alternative regulatory models, structure of the regulatory agency, regulatory framework approaches, and outcomes for the natural gas industry. The relationship between the government and the regulator was also examined in terms of their abilities to implement policy. A comparative evaluation between energy regulators in Canada, the United States, Australia and the United Kingdom was presented. The balancing of short-term and long-term objectives for gas supply and planning issues was also addressed. 17 refs

  14. The many factors that affect the success of regulatory mechanisms designed to foster investments in energy efficiency

    Energy Technology Data Exchange (ETDEWEB)

    Zarnikau [LBJ School of Public Affairs and Division of Statistics of the College of Natural Sciences, The University of Texas at Austin, Austin, TX 78713 (United States)

    2012-08-15

    A utility's profit-maximizing level of investment in energy efficiency or demand-side management (DSM) programs and mix of programs is affected by natural load growth, the frequency of rate cases, program costs, and the structure of any mechanism designed to either compensate the utility for foregone profits or sever the link between sales and profits. Under a range of reasonable assumptions, decoupling can incent a utility to invest in DSM. However, a utility experiencing high natural load growth and little inflation is likely to resist the imposition of a decoupling mechanism, as it would tend to lower profits. A utility with low growth in per-customer sales will tend to favor decoupling, as it will tend to lead to higher profits than under traditional regulation. The results presented here are quite sensitive to the assumptions made regarding natural load growth, regulatory lag, the frequency of price changes, price elasticity of demand, and other factors. This suggests that there is not a single approach to promoting energy efficiency without penalizing utility profits that will work in all situations for all utilities.

  15. Improvements in ecosystem services from investments in natural capital.

    Science.gov (United States)

    Ouyang, Zhiyun; Zheng, Hua; Xiao, Yi; Polasky, Stephen; Liu, Jianguo; Xu, Weihua; Wang, Qiao; Zhang, Lu; Xiao, Yang; Rao, Enming; Jiang, Ling; Lu, Fei; Wang, Xiaoke; Yang, Guangbin; Gong, Shihan; Wu, Bingfang; Zeng, Yuan; Yang, Wu; Daily, Gretchen C

    2016-06-17

    In response to ecosystem degradation from rapid economic development, China began investing heavily in protecting and restoring natural capital starting in 2000. We report on China's first national ecosystem assessment (2000-2010), designed to quantify and help manage change in ecosystem services, including food production, carbon sequestration, soil retention, sandstorm prevention, water retention, flood mitigation, and provision of habitat for biodiversity. Overall, ecosystem services improved from 2000 to 2010, apart from habitat provision. China's national conservation policies contributed significantly to the increases in those ecosystem services. Copyright © 2016, American Association for the Advancement of Science.

  16. Design of investment management optimization system for power grid companies under new electricity reform

    Science.gov (United States)

    Yang, Chunhui; Su, Zhixiong; Wang, Xin; Liu, Yang; Qi, Yongwei

    2017-03-01

    The new normalization of the economic situation and the implementation of a new round of electric power system reform put forward higher requirements to the daily operation of power grid companies. As an important day-to-day operation of power grid companies, investment management is directly related to the promotion of the company's operating efficiency and management level. In this context, the establishment of power grid company investment management optimization system will help to improve the level of investment management and control the company, which is of great significance for power gird companies to adapt to market environment changing as soon as possible and meet the policy environment requirements. Therefore, the purpose of this paper is to construct the investment management optimization system of power grid companies, which includes investment management system, investment process control system, investment structure optimization system, and investment project evaluation system and investment management information platform support system.

  17. NACUBO's Guide to Unitizing Investment Pools. Second Edition

    Science.gov (United States)

    Wheeler, Mary S.

    2011-01-01

    The National Association of College and University Business Officers' (NACUBO's) "Guide to Unitizing Investment Pools" addresses the principles and concepts for administering a consolidated investment pool. Unitization is the mechanism by which investment funds are pooled to maximize investment efficiencies and provide information for donors,…

  18. Determinants of Discretionary Investments

    Directory of Open Access Journals (Sweden)

    K. S. Sujit

    2016-03-01

    Full Text Available Theoretical and empirical studies have focused on discretionary investments such as research and development (R&D and advertisement as value-creating activities. This empirical research article examines the determinants of the discretionary investment policy of food sector firms in India. The study aims to analyze the impact of financial policies and firm characteristics on the discretionary investment strategy of the food industry firms. The article uses the partial least squares structural equation modeling (PLS-SEM to understand the drivers of discretionary investment policy of food sector firms. The study finds that investment policy of firms is a major determinant of profitability of food sector firms. Higher investments in capital expenditures and working capital result in higher profitability. Management efficiency significantly influences firm profitability. The results suggest that riskier firms in food sector might focus on R&D investments as a strategy to generate more cash flows. Size of firm is negatively related to R&D intensity. Smaller firms in food sector tend to invest more in R&D. The study does not provide evidence to suggest that profitable firms invest more in R&D activities.

  19. The Gains from Improved Market Efficiency

    DEFF Research Database (Denmark)

    Persson, Karl Gunnar; Ejrnæs, Mette

    faster, violations of the law of one price become smaller and hence less persistent. There were also significant gains from improved market efficiency but that improvement took place after the information ‘regime’ shifted from pre-telegraphic communication to a regime with swift transmission...... of information in an era which developed a sophisticated commercial press and telegraphic communication. Improved market efficiency probably stimulated trade more than falling transport costs......This paper looks at the gains from improved market efficiency in long-distance grain trade in the second half of the 19th century when violations of the law of one price were reduced due to improved information transmission. Two markets, a major export centre, Chicago, and a major importer...

  20. The economic rationale for investing decisions innovative projects rationalization of investments for innovative projects

    Directory of Open Access Journals (Sweden)

    L. O. Zhitinskaya

    2017-01-01

    Full Text Available The article provides a selection of methods for determining the feasibility of an investment-innovative project. Estimated indicators are identified analytically, on their basis a conclusion is made about the economic efficiency and feasibility of the project, which is the basis of its competitiveness. Such growth analytics is necessary, since the social and economic development of the country and the region largely depends on the investment climate, which is facilitated by the legislation of the Russian Federation (the Tax Code of the Russian Federation, the law of the Russian Federation on the regulation of investment activities, etc.. Since competitiveness is also determined by the economic feasibility and financial solvency of innovative projects, modern information and software, as well as the methodology for project appraisal and the corresponding order of their implementation, are needed. In the Russian Federation, a method is used to assess the efficiency of capital investments in capitalist countries, as well as the methodology of economic (competitive analysis of investment-innovative projects. The basis of the method is that reimbursement of investments occurs in two economic forms: net profit and depreciation (net income. Of the numerous methods for assessing the feasibility of investment, the most often used along with discount methods (taking into account the factor of money changes over time, statistical methods with determining the payback period and the average rate of return on investment. Defined indicators: the net present value (NPV and the internal rate of return (IRR. The methodology specified in the article is useful to the investor in order to rationalize investment flows, helps to achieve the maximum IRR. The implementation of the innovative project serves the competitiveness of the manufacturing enterprise by increasing the technical and technological levels of the products.

  1. Environmental investment and firm performance: A network approach

    International Nuclear Information System (INIS)

    Bostian, Moriah; Färe, Rolf; Grosskopf, Shawna; Lundgren, Tommy

    2016-01-01

    This study examines the role of investment in environmental production practices for both environmental performance and energy efficiency over time. We employ a network DEA approach that links successive production technologies through intertemporal investment decisions with a period by period estimation. This allows us to estimate energy efficiency and environmental performance separately, as well as productivity change and its associated decompositions into efficiency change and technology change. Incorporating a network model also allows us to account for both short-term environmental management practices and long-term environmental investments in each of our productivity measures. We apply this framework to a panel of detailed plant-level production data for Swedish manufacturing firms covering the years 2002–2008. - Highlights: • We use a network DEA model to account for intertemporal environmental investment decisionsin measures of firm productivity. • We apply our network technology model to a panel of firms in Sweden's pulp and paperindustry for the years 2002 - 2008. • We model environmental investments and expenditures separately from other productionoriented inputs. • We find evidence of positive relationships between energy efficiency, environmental performance, and firm productivity.

  2. Improving quality of foreign direct investment attraction in Vietnam

    OpenAIRE

    Ngo Phuc Hanh; Đao Van Hùng; Nguyen Thac Hoat; Dao Thi Thu Trang

    2017-01-01

    Foreign direct investment (FDI) enterprises are playing a key role in Vietnam's economy. By the end of 2016, there are more than 21,398 FDI projects in force, with the total registered capital of nearly 293 billion USD. One hundred six countries and territories have invested in 19 industries in 68 provinces and cities of Vietnam. These investments have added a large amount of capital to the economy, which has basically been used effectively, contributing to the economic growth of Vietnam. In ...

  3. Incentives for Improving Energy Efficiency When Renovating Large-Scale Housing Estates: A Case Study of the Swedish Million Homes Programme

    Directory of Open Access Journals (Sweden)

    Kristina Grange

    2009-12-01

    Full Text Available Sweden has adopted ambitious energy savings objectives for buildings, but at the current rate of energy efficiency investments the objectives are unlikely to be reached. In this article we report the early findings of how real estate owners reason and act in energy efficiency investment decisions. Based on the results from interviews with the real estate companies, the companies have been divided into four ideal types that illuminate the differences in energy efficiency ambition and strategies; the Strict Profit Maximizing Company, the Little Extra Company, the Policy Led Ambitious Company and the Administration Led Ambitious Company. The different strategies will determine how the companies respond to incentives to invest in energy efficiency, and affect the overall result in the energy efficiency work. The ideal types hence are important to have in mind when designing policies to increase energy efficiency.

  4. Promoting investments in combined heat and power production in East-European countries

    International Nuclear Information System (INIS)

    Van Oostvoom, F.; Van Harmelen, T.

    1992-01-01

    The study concerns the evaluation of the potential of Combined Heat and Power (CHP) locations, both in industry and district heating with a heat demand of at least 20 GJ/h or ca. 1 MWe capacity. In fact 58 Hungarian locations were analyzed on scope and profitability for investment in CHP, using financial accounting models and criteria such as Internal Rate of Return and Pay-back Period. Due to the already existing favourable infrastructure in East European countries the present expectations in Hungary about the CHP capacity to be developed in the future are very optimistic (1300 up till 2000 MWe in the year 2000). Clearly there exist an overoptimism concerning the possibilities of increasing the energy efficiency in former East-European countries by investment in cogeneration. A more financially and economic attractive way for efficiency improvements is promoting energy saving in these countries and thus avoiding investments in supply technologies. 6 refs

  5. Co-benefits of energy efficiency improvement and air pollution abatement in the Chinese iron and steel industry

    International Nuclear Information System (INIS)

    Zhang, Shaohui; Worrell, Ernst; Crijns-Graus, Wina; Wagner, Fabian; Cofala, Janusz

    2014-01-01

    In 2010, China was responsible for 45% of global steel production, while consuming 15.8 EJ of final energy and emitting 1344 Mt CO 2eq , 8.4 Mt of PM (particulate matter) emissions, and 5.3 Mt of SO 2 emissions. In this paper we analyse the co-benefits of implementing energy efficiency measures that jointly reduce greenhouse gas emissions and air pollutants, in comparison to applying only air pollution control (end-of-pipe technology). For this purpose we construct ECSC (energy conservation supply curves) that contain potentials and costs of energy efficiency measures and implement these in the GAINS (greenhouse gas and air pollution interactions and synergies) model. Findings show that the technical energy saving potential for the Chinese iron and steel industry for 2030 is around 5.7 EJ. This is equivalent to 28% of reference energy use in 2030. The emissions mitigation of GHGs (greenhouse gases) and air pollutants in BAEEM S 3 scenario would be reduce 27% CO 2 eq, 3% of PM, and 22% of SO 2 , compared to the BL scenario in 2030. Investments and cost savings were calculated for different scenarios, showing that energy efficiency investments will result in significant reductions in air pollution control costs. Hence, Energy efficiency measures should be integrated in air quality policy in China. - Highlights: • Implementation rates of 56 EEMs (energy efficiency measures) are quantified in China's Iron and steel industry. • Energy Supply Cost Curve was implemented in the GAINS (greenhouse gas and air pollution interactions and synergies) model. • The contribution of energy efficiency measure on the process level was estimated. • There are large co-benefits of improving energy efficiency and reducing emissions. • EEMs (energy efficiency measures) would lead to huge reductions in air pollution

  6. Insufficient incentives for investment in electricity generations

    Energy Technology Data Exchange (ETDEWEB)

    Neuhoff, K. [Cambridge University (United Kingdom). Dept. of Applied Economics; De Vries, L. [Delft University of Technology (Netherlands). Faculty of Technology, Policy and Management

    2004-12-01

    In theory, competitive electricity markets provide incentives for efficient investment in generation capacity. We show that if consumers and investors are risk averse, investment is efficient only if investors in generation capacity can sign long-term contracts with consumers. Otherwise the uncovered price risk increases financing costs, reduces equilibrium investment levels, distorts technology choice towards less capital-intensive generation and reduces consumer utility. We observe insufficient levels of long-term contracts in existing markets, possibly because retail companies are not credible counter-parties if their final customers can switch easily between them. With a consumer franchise, retailers can sign long-term contracts, but this solution comes at the expense of retail competition. Alternative capacity mechanisms to stimulate investment are discussed. (author)

  7. Improved energy efficiency in juice production through waste heat recycling

    International Nuclear Information System (INIS)

    Anderson, J.-O.; Elfgren, E.; Westerlund, L.

    2014-01-01

    Highlights: • A heating system at a juice production was investigated and improved. • Different impacts of drying cycle improvements at the energy usage were explored. • The total heat use for drying could thereby be decreased with 52%. • The results point out a significant decrease of heat consumption with low investment costs. - Abstract: Berry juice concentrate is produced by pressing berries and heating up the juice. The by-products are berry skins and seeds in a press cake. Traditionally, these by-products have been composted, but due to their valuable nutrients, it could be profitable to sell them instead. The skins and seeds need to be separated and dried to a moisture content of less than 10 %wt (on dry basis) in order to avoid fermentation. A berry juice plant in the north of Sweden has been studied in order to increase the energy and resource efficiency, with special focus on the drying system. This was done by means of process integration with mass and energy balance, theory from thermodynamics and psychrometry along with measurements of the juice plant. Our study indicates that the drying system could be operated at full capacity without any external heat supply using waste heat supplied from the juice plant. This would be achieved by increasing the efficiency of the dryer by recirculation of the drying air and by heat supply from the flue gases of the industrial boiler. The recirculation would decrease the need of heat in the dryer with about 52%. The total heat use for the plant could thereby be decreased from 1262 kW to 1145 kW. The improvements could be done without compromising the production quality

  8. Investing in Early Human Development: Timing and Economic Efficiency

    Science.gov (United States)

    Doyle, Orla; Harmon, Colm P.; Heckman, James J.; Tremblay, Richard E.

    2010-01-01

    Policy discussions to ameliorate socioeconomic (SES) inequalities are increasingly focused on investments in early childhood. Yet such interventions are costly to implement, and clear evidence on the optimal time to intervene to yield a high economic and social return in the future is meagre. The majority of successful early childhood interventions start in the preschool years. However socioeconomic gradients in cognitive skills, socio-emotional functioning and health can be observed by age three, suggesting that preventative programmes starting earlier in childhood may be even more effective. We discuss the optimal timing of early childhood intervention with reference to recent research in developmental neuroscience. We motivate the need for early intervention by providing an overview of the impact of adverse risk factors during the antenatal and early childhood periods on outcomes later in life. We provide a brief review of the economic rationale for investing early in life and propose the “antenatal investment hypothesis”. We conclude by discussing a suite of new European interventions that will inform this optimal timing debate. PMID:19213617

  9. Stock prices and business investment

    OpenAIRE

    Yaron Leitner

    2007-01-01

    Is there a link between the stock market and business investment? Empirical evidence indicates that there is. A firm tends to invest more when its stock price increases, and it tends to invest less when the price falls. In “Stock Prices and Business Investment,” Yaron Leitner discusses existing research that explains this relationship. One question under consideration is whether the stock market actually improves investment decisions.

  10. Does foreign direct investment cause higher levels of productivity or do higher levels of productivity attract foreign direct investment? A study in transforming brazilian industry

    Directory of Open Access Journals (Sweden)

    Nádia Campos Pereira

    2013-04-01

    Full Text Available DOI: http://dx.doi.org/10.5007/2175-8077.2013v15n35p82   With this research, it was aimed to investigate the factors that determine the investment decision of foreign investors in the Brazilian industry. Evidence shows that foreign investors are attracted not only by more productive and best performing sectors, but depending on the adopted strategy, they may choose investment projects in sectors that have lower performance levels which offer the potential for growth and the and improvement of efficiency levels and capacity. Granger causality test indicated that not only foreign investment gives more productivity gains, but also this productivity induces more foreign investment inputs. Foreign investors are also attracted by those sectors, which use their assets in an inefficient way in order to generate profits. These sectors may be attractive to foreign investors that want to invest in a more aggressive growth policy in order to get advantages on the availability of inefficiently used assets. These sectors may be also attractive targets to investors who seek to compete directly in relatively less competitive sectors.

  11. Use of expenditure analysis to enhance returns on investments in HIV services.

    Science.gov (United States)

    Honermann, Brian; O'Hagan, Richael

    2017-09-01

    Globally, the response to the HIV epidemic is at a crisis point. International investments in the HIV response have been essentially flat for 8 years and domestic budgets in low and middle-income countries - still recovering from the global recession - have not been able to fill the resource gap to drive a full-fledged HIV response. Still, efficiencies and prioritization of evidence-based interventions enable a significant scale-up of treatment, but millions more people remain without treatment. This review looks at recent data and research to evaluate interventions that may help close gaps in service provision that undermine testing and treatment programs. The President's Emergency Plan for AIDS Relief recently began publicly releasing vast programmatic and expenditure data. These data reveal potential efficiency gaps in testing and treatment programs, particularly in the area of linkage and retention. Interventions such as HIV self-testing have been proposed to help, but whether they can deliver better results remains unclear. Same-day initiation on treatment improves initiation, retention, and viral suppression rates. Near real-time analysis of data and active response is critical in improving efficiencies in programs. More investment in implementation research is necessary to improve linkage to care and treatment to reach 90-90-90 goals.

  12. Alternative approaches to transmission investment

    Energy Technology Data Exchange (ETDEWEB)

    Welch, J.L. [International Transmission Co., Detroit, MI (United States)

    2004-07-01

    The International Transmission Company (ITC) is an independent power transmission company that owns, operates and maintains the high voltage transmission system in southeastern Michigan. The company's current focus is on investing in the transmission infrastructure to improve reliability, relieve congestion, improve access to generation and reduce energy costs for consumers. There is a need for investment in power transmission. Trends indicate that power transactions are on the rise while transmission investment is lagging because pricing protocols are inadequate and there is no regional tariff mechanism to allocate the benefits of new investment. The presentation reviewed the applicability of FTRs to transmission owners and the pitfalls of participant funding pricing. It also outlined the regional benefit allocation mechanism (RBAM) with an illustrative example. It was concluded that existing pricing policies must be improved to address the growing need for transmission investment. RBAM is needed to help investors recover costs from project beneficiaries. figs.

  13. Using Stochastic Frontier Analysis to Analyze Adjustment Costs and Investment Utilization

    DEFF Research Database (Denmark)

    Olsen, Jakob Vesterlund; Henningsen, Arne

    of additional inputs and an initially incomplete investment utilization results in an output level that is temporarily not at its maximum. We estimate an output distance function as a stochastic "Efficiency Effects Frontier" model (Battese & Coelli 1995), where the estimated technical inefficiencies...... are explained with current and lagged investments, farm size, age of the farmer, and interaction terms between these variables. Furthermore, we derive the formula for calculating the marginal effects on technical efficiency for "Efficiency Effects Frontier" models so that we can calculate the (marginal) effect...... of current and past investments on technical efficiency, which we interpret as adjustment costs and temporary incomplete investment utilization. We apply this methodology to a large panel data set of Danish pig producers with 9,281 observations between 1996 and 2008. The results show that investments have...

  14. APPROACHES FOR EVALUATING AND FINANCING INVESTMENT PROJECTS

    Directory of Open Access Journals (Sweden)

    MARIA-LOREDANA POPESCU

    2011-04-01

    Full Text Available This article presents the financial investment approach and the investment evaluation methods, which are criteria for assessing both investment projects and their funding sources. An important role in the analysis carried out is played by the investment decision and financing decision quality. Making an investment decision implies computing the related investment efficiency indicators. They allow the comparison of several variants of the same investment project as well as their comparison with other projects in the same industry or in other industries. The financing decision concerns the selection between their own sources (share capital, depreciation fund, profits, reserve funds, additional capital, revenues from investments, attracted sources (domestic resource mobilization and borrowed sources (credits.

  15. Foreign investment multinational companies and economic development

    Directory of Open Access Journals (Sweden)

    Popov Đorđe

    2013-01-01

    Full Text Available There is no universal answer on the question whether foreign investments stimulate economic development. The positive effect of foreign direct investments will follow when the investments is carried out under normal conditions of competition. That means, above all, low barriers for foreign trade and the low level of restrictions for foreign owned companies. In such circumstances, multinational corporations can assist the economies of penetration to make its businesses more efficient. Foreign investors bring with them brand new types of economic activities and in that way shifting the limits of business opportunities in the countries of penetration. But if the investments are implemented in markets protected with protectionist barriers of various kinds, then they could have negative effects. The negative effects are in particularly reflected in the inefficient use of domestic resources. Foreign investments depend on the macro and micro institutional reforms, low inflation, real exchange rate, and reasonably efficient legal system that protects the property rights and encourages savings and investment. The low level of corruption, together with the foregoing conditions is a prerequisite for the creation of a stimulating environment for foreign investments.

  16. Improving the Efficiency of Medical Services Systems: A New Integrated Mathematical Modeling Approach

    Directory of Open Access Journals (Sweden)

    Davood Shishebori

    2013-01-01

    Full Text Available Nowadays, the efficient design of medical service systems plays a critical role in improving the performance and efficiency of medical services provided by governments. Accordingly, health care planners in countries especially with a system based on a National Health Service (NHS try to make decisions on where to locate and how to organize medical services regarding several conditions in different residence areas, so as to improve the geographic equity of comfortable access in the delivery of medical services while accounting for efficiency and cost issues especially in crucial situations. Therefore, optimally locating of such services and also suitable allocating demands them, can help to enhance the performance and responsiveness of medical services system. In this paper, a multiobjective mixed integer nonlinear programming model is proposed to decide locations of new medical system centers, link roads that should be constructed or improved, and also urban residence centers covered by these medical service centers and link roads under investment budget constraint in order to both minimize the total transportation cost of the overall system and minimize the total failure cost (i.e., maximize the system reliability of medical service centers under unforeseen situations. Then, the proposed model is linearized by suitable techniques. Moreover, a practical case study is presented in detail to illustrate the application of the proposed mathematical model. Finally, a sensitivity analysis is done to provide an insight into the behavior of the proposed model in response to changes of key parameters of the problem.

  17. Effect of investment on financial and sports results

    Directory of Open Access Journals (Sweden)

    Mijatović Predrag

    2015-01-01

    Full Text Available This study investigated the correlation between investment, financial results and sport results achieved and to evaluate the relative efficiency of Serbian football clubs. In this regard, two postulations were examined: firstly, investments in football clubs produce better sports results; secondly, investments in football clubs result in a stronger financial position. A correlation analysis and Data Envelopment Analysis (CCR model were applied. Thirteen football clubs were included in the analysis, which represents eighty per cent of the Serbian Football League First Division Clubs. The study was conducted in the period 2009-2011that includes football seasons 2009-2010, 2010-2011 and 2011-2012. A strong positive correlation between investment and sport results was found only for the top football clubs, while the econometric regression did not show any correlation. The findings also show that there is no relation between investment and net income. The analysis of technical efficiency confirmed these findings, which revealed that the best football clubs are usually the farthest away from the efficiency frontier.

  18. Economic assessment of energy efficiency investments in dwellings = Evaluación económica de inversiones de eficiencia energética en viviendas

    Directory of Open Access Journals (Sweden)

    Hector Hernández

    2017-08-01

    Full Text Available In order to improve the energy performance of buildings, the need to value economically investments of energy efficiency associated with the rehabilitation of dwellings arises. This point of view provides an useful tool for analysts who start in the economic appraisal of energy efficiency investments. The present research gives a conceptual framework for the economic assessment of these types of investments in dwellings. As a result, it is possible to identify two techniques in the appraisals of this nature: dynamic and static approaches. Both methods contrast the benefits (energy savings with the costs of investments over time. However, they differentiate the opportunity and the moment when investment must be carried out given an uncertainty scenario. This conceptual precision allows the study of several publications where different alternatives in retrofitting houses where evaluated, confirming the considerations that must be taken into account when economic modelling is made: the type of approach to be used (dynamic or static and; at the definition of the investment alternatives and scenarios, the aspects of time, irrevocability and uncertainty. Resumen En pro de la mejora del desempeño energético de los edificios, surge la necesidad de evaluar económicamente las inversiones de eficiencia energética asociadas a la rehabilitación de viviendas. Este punto de vista trata de ser una herramienta útil para analistas que se inicien en la evaluación económica de inversiones en eficiencia energética. La presente investigación muestra un marco conceptual de la evaluación económica de este tipo de inversiones en viviendas. Como resultado, es posible identificar dos enfoques presentes en los análisis económicos de esta naturaleza: el dinámico y el estático. Ambos métodos contrastan los beneficios (ahorros energéticos con los costes de las inversiones en el tiempo. Sin embargo, diferencian la oportunidad y el momento en que la inversi

  19. Investment in Renewable Energies in Argentina

    OpenAIRE

    Marina Recalde

    2017-01-01

    This article analyzes how the enabling conditions of the energy policy of a developing country such as Argentina, are crucial for the deployment of renewable energy investments. The conclusions highlights that the low institutional quality of the country shapes enabling conditions and reduce effect of the instruments of the energy policy, dropping incentives for investment in renewable technologies in the country. Therefore, in order to promote renewable technologies investments efficiently, ...

  20. MEASURES OF EFFICIENCY AND INVESTMENTS RETURN: AN STUDY OF BRAZILIAN ELECTRICITY DISTRIBUTORS WITH DATA ENVELOPMENT ANALYSIS, MALMQUIST INDEX AND ROI

    Directory of Open Access Journals (Sweden)

    Valter Saurin

    2013-03-01

    Full Text Available This paper aims to determine, in a group of companies from the Brazilian electric sector, if there is a relationship between the return on investment (ROI and the concept of efficiency estimated by the method Data Envelopment Analysis (DEA, as well as evaluating the growth of productivity based on Malmquist Index (Fare et al, 1996. The hypothesis is that firms that had return on investment higher during certain period of time are those employed their resources efficiently in getting their outputs (DEA efficient. The input (1 Products (5 DEA model correspond to the operating cost (I, the network length (km, the number of consumers and the market billed high, medium and low voltage, respectively. The sample consisted of 31 companies of Brazilian electricity distribution and timing of the study was from 2007 to 2009. We calculated the Malmquist index (M0, represented by the change in total factor productivity (TFPC, which is composed by the evolution of technical efficiency (EC and the change in the technological frontier (TC of the companies were also determined ROI for each period. We calculated the correlation between the TFPC, TC, EC, score the DEA and the ROI for the period 2007 to 2009. The results showed a positive correlation, although weak, between efficiency change and the indexes mentioned above, rejecting the initial hypothesis

  1. To assess the investment policy and investment activity of banks of Russia

    OpenAIRE

    Mandron V.; Buzaeva O.

    2016-01-01

    A priority to increase the profits of banks is investment operations in the stock market. Investment banking includes activities on raising capital using capital market instruments with the objective of capital appreciation. The article describes the investment objectives of the banks to improve their profitability, financial stability and enhance the effectiveness of the whole. The basic tools that enable banks to achieve the relevant objectives: profit, risk diversification, the maintenance...

  2. Improving efficiency in stereology

    DEFF Research Database (Denmark)

    Keller, Kresten Krarup; Andersen, Ina Trolle; Andersen, Johnnie Bremholm

    2013-01-01

    of the study was to investigate the time efficiency of the proportionator and the autodisector on virtual slides compared with traditional methods in a practical application, namely the estimation of osteoclast numbers in paws from mice with experimental arthritis and control mice. Tissue slides were scanned......, a proportionator sampling and a systematic, uniform random sampling were simulated. We found that the proportionator was 50% to 90% more time efficient than systematic, uniform random sampling. The time efficiency of the autodisector on virtual slides was 60% to 100% better than the disector on tissue slides. We...... conclude that both the proportionator and the autodisector on virtual slides may improve efficiency of cell counting in stereology....

  3. Retrofit of ammonia plant for improving energy efficiency

    International Nuclear Information System (INIS)

    Panjeshahi, M.H.; Ghasemian Langeroudi, E.; Tahouni, N.

    2008-01-01

    The aim of this work is to perform a retrofit study of an ammonia plant, in purpose of improving energy efficiency. As a common practice, one can divide an ammonia plant into two parts: the hot-end and the cold-end. In the hot section, two different options are investigated that both lead to a threshold condition and achieve maximum energy saving. The first option covers only process-to-process energy integration, while the second option considers some modification in the convection section of the primary reformer through a new arrangement of the heating coils. Thus, a considerable reduction in cooling water, HP steam and fuel gas consumption is achieved. In the cold section, retrofit study is dominated by reducing the amount of shaft work or power consumption in the refrigeration system. Application of the Combined Pinch and Exergy Analysis revealed that part of the shaft work, which was originally being used, was inefficient and could have been avoided in a well-integrated design. Therefore, by proposing optimum refrigeration levels, reasonable saving (15%) in power consumption was observed without the need for new investment

  4. Investment in Developing Countries

    Science.gov (United States)

    Motooka, Takeshi

    1973-01-01

    The fundamental problems of investment in rural education in the present developing countries are analyzed. Needs of rural education are outlined and financial considerations related to investment in the improvement of rural educational programs are discussed. (SM)

  5. Webinar: Green Cleaning for Improved Health: The Return on Investment of Green Cleaning in Schools

    Science.gov (United States)

    A page to register to view the June 22, 2017, webinar in the IAQ Knowledge-to-Action Professional Training Webinar Series: Green Cleaning for Improved Health: The Return on Investment of Green Cleaning in Schools

  6. Optimal Time to Invest Energy Storage System under Uncertainty Conditions

    Directory of Open Access Journals (Sweden)

    Yongma Moon

    2014-04-01

    Full Text Available This paper proposes a model to determine the optimal investment time for energy storage systems (ESSs in a price arbitrage trade application under conditions of uncertainty over future profits. The adoption of ESSs can generate profits from price arbitrage trade, which are uncertain because the future marginal prices of electricity will change depending on supply and demand. In addition, since the investment is optional, an investor can delay adopting an ESS until it becomes profitable, and can decide the optimal time. Thus, when we evaluate this investment, we need to incorporate the investor’s option which is not captured by traditional evaluation methods. In order to incorporate these aspects, we applied real option theory to our proposed model, which provides an optimal investment threshold. Our results concerning the optimal time to invest show that if future profits that are expected to be obtained from arbitrage trade become more uncertain, an investor needs to wait longer to invest. Also, improvement in efficiency of ESSs can reduce the uncertainty of arbitrage profit and, consequently, the reduced uncertainty enables earlier ESS investment, even for the same power capacity. Besides, when a higher rate of profits is expected and ESS costs are higher, an investor needs to wait longer. Also, by comparing a widely used net present value model to our real option model, we show that the net present value method underestimates the value for ESS investment and misleads the investor to make an investment earlier.

  7. IMPACT OF FOREIGN DIRECT INVESTMENT (FDI ON DOMESTIC INVESTMENT IN REPUBLIC OF CROATIA

    Directory of Open Access Journals (Sweden)

    Igor Ivanović

    2015-11-01

    Full Text Available The aim of this paper is to investigate how foreign direct investment (FDI affects domestic investment in the Republic of Croatia. More precisely, the general purpose of this study is to determine the impact of net inflow of foreign capital on domestic investment in order to gain a clearer picture about the sensitivity and efficiency of domestic investment. After parsing domestic investment and FDI in Croatia, according to Croatian Bureau of Statistics and the Croatian National Bank, a historical overview of their movement from 1995 to 2014 was analyzed. In the following an overview and comparison of studies from around the world which deal with similar topic was made. In the empirical part; domestic gross fixed capital formation, changes in domestic stocks, net FDI and GDP growth rate was used as variables. Quarterly time series data ranging from the Q1 2001 to Q4 2014 were processed with the subset VAR (vector autoregressive econometric model. The results shows that FDI have negative influence on domestic investment in the Republic of Croatia with time lag.

  8. Common challenge in resource efficiency improvement

    International Nuclear Information System (INIS)

    La Motta, Sergio; Peronaci, Marcello

    2015-01-01

    Energy efficiency and technology improvements on their own will not achieve the Low Carbon Societies (LCS) goals. Thus, resource efficiency and a circular economy are keys to a low carbon society. Resource efficiency improvement potential has been analysed from the industrial and territorial management perspectives. Exploring synergies between LCS and the larger area of sustainable development and green economy, highlighting co-benefits and trade-offs, is of utmost importance to pave the way to a more equitable and largely participated low carbon transition.

  9. Review of capital investment in economic growth cycle

    Science.gov (United States)

    Shaffie, Siti Salihah; Jaaman, Saiful Hafizah; Mohamad, Daud

    2016-11-01

    The study of linkages of macroeconomics factors is prominent in order to understand how the economic cycle affects one another. These factors include interest rate, growth rate, saving and capital investment which are mutually correlated to stabilize the GDP. Part of this study, it will look upon the impact of investment which emphasize the efficiency of capital investment to the economic growth. Capital investment is one investment appraisal that gives impact to the economic growth. It is a long term investment and involve with large amount of capital to incorporate the development of private and public capital investment.

  10. Reform of investment policy in the function of sustainable development with special emphasis on investment in information technologies

    Directory of Open Access Journals (Sweden)

    Dragičević-Radičević Tatjana

    2017-01-01

    Full Text Available Global economy still records a decline in FDI. The main causes are increased economic instability and geopolitical risks. Given the continued negative trend, it is clear that it is necessary to reform the investment policies at the national, regional, bilateral, multilateral and international level, to ensure sustainable economic development. Key elements of the reforms are: to provide instruments to reduce risks, create mechanisms of responsible investment, improve the structural coherence and promote regional investments. Refer to the current dates of the sectors investments (according to the report of UNCTAD from 2015th shows that the services sector recorded double growth compared to the investment in the manufacturing sector in 2012. Also, if we take into consideration the fact that investment in IT sector investment involves three aspects: transactional (minimizing costs, strategic (innovation technologies, achieving competitiveness and information (improving access to information and communications, it may be assumed that the reforms in the investment policies should be directly correlated with investments in information technology.

  11. Planning Costs in Certain Stage of the Life Cycle of Investment Activity of Construction Organization

    OpenAIRE

    Iakymchuk Iryna M.

    2017-01-01

    The article discusses the issues related to planning costs in certain stages of the life-cycle of investment activity of construction organization. It has been specified that cost management based on the life-cycle model of the investment project, which is being implemented by a construction organization, allows for a consistent improvement in the efficiency of the innovation process on the basis of a clear planning, as well as cost forecasting. This approach allows for the long-term effectiv...

  12. Energy conservation investments: A comparison between China and the US

    International Nuclear Information System (INIS)

    Lin, Jiang

    2007-01-01

    Growth in energy consumption in China has soared from 2001 to 2004, driven largely by a booming economy and heavy investment in infrastructure and housing. In response, China has poured billions of dollars of investment in building power plants-at a rate of one large power plant (1000 MW) per week. In fact, China in 2004 has added the entire generating capacity of California or Spain in a single year. In contrast, investment in energy conservation projects has weakened considerably in recent years. This paper examines trends in energy efficiency investments in China and the US. The comparison highlights the potential of energy conservation investments in addressing China's current energy crisis as well as the inadequacy of such investments in China. Finally, the paper outlines a few scenarios for appropriate levels of investments in energy efficiency in China in the future

  13. CURRENT STATUS AND TRENDS INVESTMENT IN AGRICULTURE UKRAINE

    OpenAIRE

    Sokolova, A. N.; Yurko, Т. S.; Klimenko, I. V.

    2018-01-01

    Globalization processes accelerate the pace of scientific and technological progress and innovation and require investment in innovation to enhance the efficiency of the national economy of our state and some of its branches, inter–industry complexes and sub–complexes at the level of developed countries.The article examines the current state of investment in agriculture of Ukraine. The main criteria to encourage capital investment taking into account regional peculiarities capital investment ...

  14. ECO-EFFICIENCY INDICATORS’ EVOLUTION IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Camelia CAMASOIU

    2005-06-01

    Full Text Available Due to the importance of improving the environmental performance and of integrating the environmental protection policies in long-term strategies, the practical interest has increased for identifying, selecting and building the most expressive eco-efficiency indicators. The paper analyses the basic performance indicators for environment at micro-economic level, which might show progress on the sustainable development road. The study of the eco-efficiency was developed based on a financing pilot study of urban infrastructure investments in Calarasi county for a municipal association. The main objective was to improve gas and sewerage systems for four localities (Calarasi, Oltenita, Lehliu Gara and Budesti under the conditions of improving the economic and ecological efficiency of the proposed project.

  15. System-level energy efficiency is the greatest barrier to development of the hydrogen economy

    International Nuclear Information System (INIS)

    Page, Shannon; Krumdieck, Susan

    2009-01-01

    Current energy research investment policy in New Zealand is based on assumed benefits of transitioning to hydrogen as a transport fuel and as storage for electricity from renewable resources. The hydrogen economy concept, as set out in recent commissioned research investment policy advice documents, includes a range of hydrogen energy supply and consumption chains for transport and residential energy services. The benefits of research and development investments in these advice documents were not fully analyzed by cost or improvements in energy efficiency or green house gas emissions reduction. This paper sets out a straightforward method to quantify the system-level efficiency of these energy chains. The method was applied to transportation and stationary heat and power, with hydrogen generated from wind energy, natural gas and coal. The system-level efficiencies for the hydrogen chains were compared to direct use of conventionally generated electricity, and with internal combustion engines operating on gas- or coal-derived fuel. The hydrogen energy chains were shown to provide little or no system-level efficiency improvement over conventional technology. The current research investment policy is aimed at enabling a hydrogen economy without considering the dramatic loss of efficiency that would result from using this energy carrier.

  16. What do people living in deprived communities in the UK think about household energy efficiency interventions?

    International Nuclear Information System (INIS)

    Scott, Fiona L.; Jones, Christopher R.; Webb, Thomas L.

    2014-01-01

    While physical interventions such as external wall cladding can improve the energy efficiency of domestic properties, how residents think about and respond to such interventions can influence both their uptake and impact on the household’s energy use. The present research investigated what residents living within deprived communities in Yorkshire and the Humber (United Kingdom) thought about a number of household energy efficiency interventions proposed as part of a project known as “The BIG Energy Upgrade”. The Theory of Planned Behaviour was used as a framework for investigating residents' beliefs. Residents generally felt positive about the proposed interventions and expected that they would lead to financial savings, improve the appearance and warmth of their homes, and sense of pride in the local community. However, while residents intended to adopt energy efficiency interventions if offered them, they were less willing to personally invest in them. Home ownership and the belief in humans' ability to tackle climate change were found to predict willingness to invest. These findings help to understand responses to initiatives that seek to improve the energy efficiency of hard-to-treat homes. - Highlights: • We investigate beliefs about energy efficiency interventions in deprived areas. • Residents felt positive and predicted considerable financial savings. • Improved appearance, warmth and pride in place were important for residents • Home ownership predicted willingness to invest in interventions • Belief in humans' ability to tackle climate change predicted willingness to invest

  17. FROM EFFICIENT MARKET HYPOTHESIS TO BEHAVIOURAL FINANCE: CAN BEHAVIOURAL FINANCE BE THE NEW DOMINANT MODEL FOR INVESTING?

    OpenAIRE

    Anastasios KONSTANTINIDIS; Androniki KATARACHIA; George BOROVAS; Maria Eleni VOUTSA

    2012-01-01

    The present paper reviews two fundamental investing paradigms, which have had a substantial impact on the manner investors tend to develop their own strategies. specifically, the study elaborates on efficient market hypothesis (emh), which, despite remaining most prominent and popular until the 1990s, is considered rather controversial and often disputed, and the theory of behavioural finance, which has increasingly been implemented in financial institutions. based on an extensive survey of b...

  18. R & D STRATEGIC INVESTMENT IN AN ASYMMETRICAL CASE

    Institute of Scientific and Technical Information of China (English)

    Minggao XUE; Pu GONG

    2006-01-01

    This article analyzes R & D investment decisions in an asymmetrical case. The investment decisions share three important characteristics. First, the investment is completely irreversible. Second,there are two kinds of uncertainties over the future returns from the investment and over technology in R & D process, respectively. Third, there is strategic competition in the asymmetrical case. This article presents the optimal investment threshold values and the optimal investment rule of high-efficient firm (leader), and shows that the investment threshold values are reduced by competition of two firms.Finally, the mixed investment strategies for two firms, the probability that each firm separately exercises the option to invest, and the probability that two firms simultaneously exercise the option are given in the paper.

  19. Optimal Priority Structure, Capital Structure, and Investment

    OpenAIRE

    Dirk Hackbarth; David C. Mauer

    2012-01-01

    We study the interaction between financing and investment decisions in a dynamic model, where the firm has multiple debt issues and equityholders choose the timing of investment. Jointly optimal capital and priority structures can virtually eliminate investment distortions because debt priority serves as a dynamically optimal contract. Examining the relative efficiency of priority rules observed in practice, we develop several predictions about how firms adjust their priority structure in res...

  20. Investment of Vehicle Fixed Asset Investment on improving profitability (Case study of Parahyangan Express Karawang Branch

    Directory of Open Access Journals (Sweden)

    Sri Suartini

    2018-03-01

    Full Text Available The purpose of this study is to determine how much influence has fixed asset investment in profitability of Parahyangan Express Karawang Branch. This research uses the descriptive method with primary data source of Parahyangan Express Karawang Branch between 2007 - 2016. The result of this research is r average investment value of Parahyangan Express in the period 2007 until 2016. Parahyangan Express in the period 2007 to 2016 tends to decline. Based on test results t comparison t arithmetic with t table showing 2.840> 2.093 t count more than t table. The percentage of influence of fixed asset investment of 30% means 30 % development of profitability. Parahyangan Express is influenced by in-kind fixed assets while 70 % is influenced by other factors not examined in this study.

  1. USING THE BUSINESS MODEL CANVAS TO IMPROVE INVESTMENT PROCESSES

    DEFF Research Database (Denmark)

    Sort, Jesper Chrautwald; Nielsen, Christian

    2017-01-01

    and the business angels did not fully agree on the value proposition of the investment opportunity. Practical implications — The findings show that entrepreneurs who market their business cases to investors obtain better feedback and a higher chance of funding using the business model canvas. Implications...... of this paper also relate to the preparation of the entrepreneurs and that matchmakers between entrepreneurs and investors can use the business model canvas to facilitate such processes. Originality/value — This paper contributes to both the theory of the investment process as well as the application......Purpose — This paper investigates how entrepreneurs market their business opportunities towards business angels in the investment process. This is achieved by introducing the Business Model Canvas as a mitigating framework to help entrepreneurs in communicating and structuring the information...

  2. Energy efficiency barriers in commercial and industrial firms in Ukraine: An empirical analysis

    International Nuclear Information System (INIS)

    Hochman, Gal; Timilsina, Govinda R.

    2017-01-01

    Improvement in energy efficiency is one of the main options to reduce energy demand and greenhouse gas emissions. However, large-scale deployment of energy-efficient technologies is constrained by several factors. Employing a survey of 509 industrial and commercial firms throughout Ukraine and a generalized ordered logit model, we quantified the economic, behavioral, and institutional barriers that may impede the deployment of energy-efficient technologies. Our analysis shows that behavioral barriers resulted from lack of information, knowledge, and awareness are major impediments to the adoption of energy-efficient technologies in Ukraine, and that financial barriers may further impede investments in these technologies especially for small firms. This suggests that carefully targeted information provisions and energy audits will enhance Ukrainian firms' investments in energy-efficient technologies to save energy consumption, improve productivity, and reduce carbon emissions from the productive sectors. - Highlights: • Employing a survey of 509 industrial and commercial firms throughout Ukraine • A generalized ordered logit model is used in the analysis. • The paper quantifies the economic, behavioral, and institutional barriers to energy-efficient technologies. • Behavioral barriers are major impediments to the adoption of energy-efficient technologies. • Financial barriers may further impede investments in these technologies especially for small firms.

  3. Energy Investment Allowance. Energy List 2000

    International Nuclear Information System (INIS)

    2000-01-01

    The title regulation (EIA, abbreviated in Dutch) offers entrepreneurs in the Netherlands financial incentives to invest in energy efficient capital equipment and renewable energy. Minimal 40% of the investment costs with a maximum of 208 million Dutch guilders can be deducted from fiscal profits. For one or more years less income tax or corporation taxes have to be paid. In this brochure it is outlined what the EIA means and how it can be used. The Energy List contains brief descriptions of examples of different energy efficient options that can be applied to qualify for the EIA

  4. Assessing National Employment Impacts of Investment in Residential and Commercial Sector Energy Efficiency: Review and Example Analysis

    Energy Technology Data Exchange (ETDEWEB)

    Anderson, David M.; Belzer, David B.; Livingston, Olga V.; Scott, Michael J.

    2014-06-18

    Pacific Northwest National Laboratory (PNNL) modeled the employment impacts of a major national initiative to accelerate energy efficiency trends at one of two levels: • 15 percent savings by 2030. In this scenario, efficiency activities save about 15 percent of the Annual Energy Outlook (AEO) Reference Case electricity consumption by 2030. It is assumed that additional energy savings in both the residential and commercial sectors begin in 2015 at zero, and then increase in an S-shaped market penetration curve, with the level of savings equal to about 7.0 percent of the AEO 2014 U.S. national residential and commercial electricity consumption saved by 2020, 14.8 percent by 2025, and 15 percent by 2030. • 10 percent savings by 2030. In this scenario, additional savings begin at zero in 2015, increase to 3.8 percent in 2020, 9.8 percent by 2025, and 10 percent of the AEO reference case value by 2030. The analysis of the 15 percent case indicates that by 2030 more than 300,000 new jobs would likely result from such policies, including an annual average of more than 60,000 jobs directly supporting the installation and maintenance of energy efficiency measures and practices. These are new jobs resulting initially from the investment associated with the construction of more energy-efficient new buildings or the retrofit of existing buildings and would be sustained for as long as the investment continues. Based on what is known about the current level of building-sector energy efficiency jobs, this would represent an increase of more than 10 percent from the current estimated level of over 450,000 such jobs. The more significant and longer-lasting effect comes from the redirection of energy bill savings toward the purchase of other goods and services in the general economy, with its attendant influence on increasing the total number of jobs. This example analysis utilized PNNL’s ImSET model, a modeling framework that PNNL has used over the past two decades to assess

  5. Environmental investment funds. Investing into the future. Umweltfonds. Investieren in die Zukunft

    Energy Technology Data Exchange (ETDEWEB)

    Homolka, W [Bayerische Hypotheken- und Wechsel-Bank AG, Muenchen (Germany)

    1990-01-01

    The book wants to show that ecologically oriented and socially responsible investment has so far been underrated as a criterion of choice for finance decisions. Environmental investment funds offer the chance to make important investments into the future and the development of new technologies and methods of production, provided the openness of their claim is appreciated which is to go for anything that will improve our environment. Such confidence in the positive forces of the market is adequately rewarded, as international examples show. Environmental investment funds are a form of finance management for far-sighted investors and who are committed to the environment. The author presents the bases of ethic-ecologically oriented fund investment, reports experience abroad, and gives a current overview of the situation, nationally and internationally, in this sector of the finance market. (orig./HSCH).

  6. Considerations on Optimal Financial Invest ment into Infrastructural Facilities

    Institute of Scientific and Technical Information of China (English)

    2002-01-01

    The enlargement of government's investment into infrastructural construction is both a help medicine curing economic contraction and an effective measure to accumulate long-term economic growth.. However, the investment by finance into infrastructure also has a problem of optimization and reasonable selection. In view of market economic requirements, the policy direction of financial investment into infrastructural industries must be doing something at the expense of some other things. In the process of the adjustment and optimization of economic structure, state financial investment into infrastructural facilities has to first of all solve the problem of delimitating the best fields and selecting trades. As to the infrastructure facilities producing and selling pure public products, the development must be made by financial investment;As to the production fields of subpublic products, finance should ensure reasonable investment; As to the infrastructural facilities of pure privite production, finance should completely, in principle, pull out and let market supply. On this basis, selections should be made on best capital soureces and investment ways. The capital sources should be mainly from tax and regulational income and direct investment may be made. As to the production fields of most subpublic production, the best capital sources are national debt income and indirect investment may be made. In addition, the optimization of financial investment into infrastructural facilities must reform the managerial system of infrastructural facilities and raise investment efficiency. Only by scientifically selecting and arranging the financing ways and managerial system in investment fields,can the maximum economic efficiency and social welfare results be realized in carrying out financial investment into infrastructural facilities.

  7. Planning Costs in Certain Stage of the Life Cycle of Investment Activity of Construction Organization

    Directory of Open Access Journals (Sweden)

    Iakymchuk Iryna M.

    2017-09-01

    Full Text Available The article discusses the issues related to planning costs in certain stages of the life-cycle of investment activity of construction organization. It has been specified that cost management based on the life-cycle model of the investment project, which is being implemented by a construction organization, allows for a consistent improvement in the efficiency of the innovation process on the basis of a clear planning, as well as cost forecasting. This approach allows for the long-term effectiveness of innovation project by providing cost-management services at all stages of investment project, identifying opportunities for reducing them, thereby contributing to sustainable development of construction organization over time. It has been concluded that the more specific the program of activities of construction organization, the more accurate the process of identification of costs becomes, the more efficient is the management of costs, targeted at saving resources, reducing the self cost of construction works.

  8. Frontier technologies to improve efficiency

    International Nuclear Information System (INIS)

    Kalhammer, F.R.

    1992-01-01

    The author discusses conservation technology to improve the efficiency of energy production. Although coal is seen as the largest source of fuel for producing electricity until the year 2040, the heating value of coal is expected to be increased by using Integrated Gasification Combined Cycle (IGCC) technology. Use of fuel cells to produce electricity will be a viable option only if costs can be reduced to make the technology competitive. By coupling IGCC with fuel cells it may be possible to increase total conversion efficiency of coal to electricity at 50%. Photovoltaics technology is more likely to be used in developing countries. Electric utilities target power electronics, lighting fixtures, heat pumps, plasma processing, freeze concentration and application of superconductivity as electricity end use technologies that have the most potential for efficiency improvement. The impact of these technologies in coping with the greenhouse effect was not addressed

  9. GATE: Improving the computational efficiency

    International Nuclear Information System (INIS)

    Staelens, S.; De Beenhouwer, J.; Kruecker, D.; Maigne, L.; Rannou, F.; Ferrer, L.; D'Asseler, Y.; Buvat, I.; Lemahieu, I.

    2006-01-01

    GATE is a software dedicated to Monte Carlo simulations in Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET). An important disadvantage of those simulations is the fundamental burden of computation time. This manuscript describes three different techniques in order to improve the efficiency of those simulations. Firstly, the implementation of variance reduction techniques (VRTs), more specifically the incorporation of geometrical importance sampling, is discussed. After this, the newly designed cluster version of the GATE software is described. The experiments have shown that GATE simulations scale very well on a cluster of homogeneous computers. Finally, an elaboration on the deployment of GATE on the Enabling Grids for E-Science in Europe (EGEE) grid will conclude the description of efficiency enhancement efforts. The three aforementioned methods improve the efficiency of GATE to a large extent and make realistic patient-specific overnight Monte Carlo simulations achievable

  10. An optimization methodology for identifying robust process integration investments under uncertainty

    Energy Technology Data Exchange (ETDEWEB)

    Svensson, Elin; Berntsson, Thore [Department of Energy and Environment, Division of Heat and Power Technology, Chalmers University of Technology, SE-412 96 Goeteborg (Sweden); Stroemberg, Ann-Brith [Fraunhofer-Chalmers Research Centre for Industrial Mathematics, Chalmers Science Park, SE-412 88 Gothenburg (Sweden); Patriksson, Michael [Department of Mathematical Sciences, Chalmers University of Technology and Department of Mathematical Sciences, University of Gothenburg, SE-412 96 Goeteborg (Sweden)

    2009-02-15

    Uncertainties in future energy prices and policies strongly affect decisions on investments in process integration measures in industry. In this paper, we present a five-step methodology for the identification of robust investment alternatives incorporating explicitly such uncertainties in the optimization model. Methods for optimization under uncertainty (or, stochastic programming) are thus combined with a deep understanding of process integration and process technology in order to achieve a framework for decision-making concerning the investment planning of process integration measures under uncertainty. The proposed methodology enables the optimization of investments in energy efficiency with respect to their net present value or an environmental objective. In particular, as a result of the optimization approach, complex investment alternatives, allowing for combinations of energy efficiency measures, can be analyzed. Uncertainties as well as time-dependent parameters, such as energy prices and policies, are modelled using a scenario-based approach, enabling the identification of robust investment solutions. The methodology is primarily an aid for decision-makers in industry, but it will also provide insight for policy-makers into how uncertainties regarding future price levels and policy instruments affect the decisions on investments in energy efficiency measures. (author)

  11. An optimization methodology for identifying robust process integration investments under uncertainty

    International Nuclear Information System (INIS)

    Svensson, Elin; Berntsson, Thore; Stroemberg, Ann-Brith; Patriksson, Michael

    2009-01-01

    Uncertainties in future energy prices and policies strongly affect decisions on investments in process integration measures in industry. In this paper, we present a five-step methodology for the identification of robust investment alternatives incorporating explicitly such uncertainties in the optimization model. Methods for optimization under uncertainty (or, stochastic programming) are thus combined with a deep understanding of process integration and process technology in order to achieve a framework for decision-making concerning the investment planning of process integration measures under uncertainty. The proposed methodology enables the optimization of investments in energy efficiency with respect to their net present value or an environmental objective. In particular, as a result of the optimization approach, complex investment alternatives, allowing for combinations of energy efficiency measures, can be analyzed. Uncertainties as well as time-dependent parameters, such as energy prices and policies, are modelled using a scenario-based approach, enabling the identification of robust investment solutions. The methodology is primarily an aid for decision-makers in industry, but it will also provide insight for policy-makers into how uncertainties regarding future price levels and policy instruments affect the decisions on investments in energy efficiency measures. (author)

  12. DETERMINANTS OF FOREIGN DIRECT INVESTMENT DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Elena Chirila - Donciu

    2013-12-01

    Full Text Available FDI had a strong impact in the last three decades on economic growth, foreign trade and production structures in almost all countries. The purpose of this paper is to analyze the main factors that contribute to attracting foreign direct investment flows and also the competitiveness of the business environment in Romania and its implications on investment decisions and economic growth. Research results show that the presence of FDI goes to those areas that can provide efficiencies investment factors: skilled and qualified labor, educational and research institutions etc..

  13. Foreign Direct Investments in Central Asian Energy: A CGE Model

    Directory of Open Access Journals (Sweden)

    Michael P. BARRY

    2009-05-01

    Full Text Available Turkmenistan, Uzbekistan, and Kazakhstan have adopted significant legislative changes since the fall of the former Soviet Union in an effort to attract foreign direct investment into their energy sectors. Of the three republics, Kazakhstan has been the most successful in attracting foreign interest, but all three republics face significant challenges in further development of oil and gas infrastructure. Even if these countries are completely successful in bringing in foreign investment, a question will remain: who wins and who loses in these countries. Using updated data, this paper will use a computable general equilibrium model to measure the effects of FDI into Central Asia. Results of the model suggest that the region would be better off overall from foreign investment in its natural gas sector, due mostly to improvements in overall production efficiency and its overall terms of trade. However, the gain in the natural gas sector would come at the expense of production and net exports of non-petroleum related industries.

  14. Productivity benefits of industrial energy efficiency measures

    Energy Technology Data Exchange (ETDEWEB)

    Worrell, Ernst; Laitner, John A.; Michael, Ruth; Finman, Hodayah

    2004-08-30

    We review the relationship between energy efficiency improvement measures and productivity in industry. We review over 70 industrial case studies from widely available published databases, followed by an analysis of the representation of productivity benefits in energy modeling. We propose a method to include productivity benefits in the economic assessment of the potential for energy efficiency improvement. The case-study review suggests that energy efficiency investments can provide a significant boost to overall productivity within industry. If this relationship holds, the description of energy-efficient technologies as opportunities for larger productivity improvements has significant implications for conventional economic assessments. The paper explores the implications this change in perspective on the evaluation of energy-efficient technologies for a study of the iron and steel industry in the US. This examination shows that including productivity benefits explicitly in the modeling parameters would double the cost-effective potential for energy efficiency improvement, compared to an analysis excluding those benefits. We provide suggestions for future research in this important area.

  15. Green investment in sustainable housing. SEV recommendation

    International Nuclear Information System (INIS)

    Fokkema, J.

    1996-07-01

    In cooperation with the Triodos Bank, SEV carried out a study on the possibility to invest money from green investment funds at low interest in houses which are designed and built in a sustainable and energy efficient way. By order of the Triodos Bank and SEV others drafted a guideline to assess dwellings and calculated the financial and economical consequences of green investments in sustainable housing. The results of those studies formed the basis of the SEV recommendation to the Dutch State Secretary of Housing and Planning and the Dutch State Secretary of Economic Affairs, April 1996, to expand the planned Green Investment Regulation to the possibility to invest money in sustainable houses. It is expected that the Green Investment Regulation will come into effect September 1996. 2 appendices

  16. Financing energy investments in the economies in transition

    International Nuclear Information System (INIS)

    Brendow, C.

    1997-01-01

    This report is the part concerning Central and Eastern Europe (CEE) and the Commonwealth of Independent States (CIS) of the World Energy Council (WEC) Programme - a global study of the financing requirements of future energy developments. The investment needs are determined to reach the standards of developed energy market economies in terms of quality of service, efficiency, profitability, environmental protection and safety. Considering the macro-economic and general energy development scenarios done by IIASA and WEC the cumulative investment requirements 1990-2020 would be to range from $281bill. to $509 bill. in CEE; annual investment requirements would amount to $15-28 bill. depending on the scenarios; specific investment requirements per ton energy would range from 77 (ecologically driven scenario) to $101 (high growth, coal based scenario). In 1994 international finance for CEE/CIS energy sector was only $5 bill. (or 5% of the needs) due to the small size of the projects, low energy prices and the lack of incentives. CEE/CIS countries have not done enough to attract foreign loans. Western energy corporations acquired shares of Russian oil and gas companies. Reasons for the slow start include currency risk, legal uncertainty, uncertain demand prospects, low electricity tariffs, required rate of returns - above 18% in CEE, 25% in CIS, compared to 10% in US and UK. About 9% of total world foreign direct investments have been entered in energy sector. Multilateral organizations have invested yearly average $0.8-1 bill. grants and credits in CEE/CIS energy activities. From 1991 to 1995 135 mill. ECU have been spent for supporting national energy sector in CEE countries under PHARE activities. Difficulties are due to the lack of developed capital markets in these countries. In the future CEE capital markets could support a substantial proportion of the national investment requirements. By 2020 capital requirements for energy supply investments would be 3.4-4.7% of

  17. Energy efficiency in pumps

    International Nuclear Information System (INIS)

    Kaya, Durmus; Yagmur, E. Alptekin; Yigit, K. Suleyman; Kilic, Fatma Canka; Eren, A. Salih; Celik, Cenk

    2008-01-01

    In this paper, 'energy efficiency' studies, done in a big industrial facility's pumps, are reported. For this purpose; the flow rate, pressure and temperature have been measured for each pump in different operating conditions and at maximum load. In addition, the electrical power drawn by the electric motor has been measured. The efficiencies of the existing pumps and electric motor have been calculated by using the measured data. Potential energy saving opportunities have been studied by taking into account the results of the calculations for each pump and electric motor. As a conclusion, improvements should be made each system. The required investment costs for these improvements have been determined, and simple payback periods have been calculated. The main energy saving opportunities result from: replacements of the existing low efficiency pumps, maintenance of the pumps whose efficiencies start to decline at certain range, replacements of high power electric motors with electric motors that have suitable power, usage of high efficiency electric motors and elimination of cavitation problems

  18. Energy efficiency in industry and transportation

    International Nuclear Information System (INIS)

    Ruscoe, J.

    1990-01-01

    The discussion of energy issues has changed since the 1970s as improvements have been made in energy efficiency. The present capacity for surplus energy production in economically advanced countries reflects a decrease in energy requirements as well as new production sources. At the same time, the energy crisis can be seen as having discouraged improvements in energy efficiency because of its negative impact on growth. And the centrally planned economies remain highly inefficient energy users. Economic growth encourages the use of new technologies which are likely to be less energy-intensive than those they replace. Permanent gains in energy efficiency are derived from structural changes in the economy and from the introduction of energy-efficient technologies. This article addresses the prospect of increased energy conservation, particularly in industry (the end-use which consumes the most energy) and transportation. Although investments in projects to promote energy conservation are more cost-effective and environment-friendly than investments in energy supply, there is still widespread support for the latter. Developing countries naturally give preference to quantitative growth, with an increasing consumption of energy, but in these countries, too, more efficient use of energy could greatly reduce demand. The policies of international development agencies which still favour increasing energy supply over conservation need to change. Awareness of the need to reduce energy demand is, however, growing worldwide. (author)

  19. Superefficient Refrigerators: Opportunities and Challenges for Efficiency Improvement Globally

    Energy Technology Data Exchange (ETDEWEB)

    Shah, Nihar; Park, Won Young; Bojda, Nicholas; McNeil, Michael A.

    2014-08-01

    As an energy-intensive mainstream product, residential refrigerators present a significant opportunity to reduce electricity consumption through energy efficiency improvements. Refrigerators expend a considerable amount of electricity during normal use, typically consuming between 100 to 1,000 kWh of electricity per annum. This paper presents the results of a technical analysis done for refrigerators in support of the Super-efficient Equipment and Appliance Deployment (SEAD) initiative. Beginning from a base case representative of the average unit sold in India, we analyze efficiency improvement options and their corresponding costs to build a cost-versus-efficiency relationship. We then consider design improvement options that are known to be the most cost effective and that can improve efficiency given current design configurations. We also analyze and present additional super-efficient options, such as vacuum-insulated panels. We estimate the cost of conserved electricity for the various options, allowing flexible program design for market transformation programs toward higher efficiency. We estimate ~;;160TWh/year of energy savings are cost effective in 2030, indicating significant potential for efficiency improvement in refrigerators in SEAD economies and China.

  20. Improving benefit-cost analysis to overcome financing difficulties in promoting energy-efficient renovation of existing residential buildings in China

    International Nuclear Information System (INIS)

    Wang, Xiaotong; Lu, Meijun; Mao, Wei; Ouyang, Jinlong; Zhou, Bo; Yang, Yunkai

    2015-01-01

    Highlights: • Financing difficulties hinder energy retrofit of aging residential buildings in China. • New indices based on benefit-cost analysis are presented to overcome barriers. • New indices can be applied to rank energy measures and propose optimum plans. • Improved benefit-cost analysis will attract the government and residents to co-invest. • A “win–win” model means the governments and residents can co-invest and co-benefit. - Abstract: Energy-efficient renovation of existing residential buildings is an important energy policy in China, but financing difficulties seriously hinder the promotion of the policy. In this article, novel indices based on benefit-cost analysis are presented to overcome the barriers. Firstly, benefit-cost analysis is expanded to include the ratio of energy-saving benefit to investment cost (EnIR), the ratio of environmental benefit to investment cost (EvIR), and the ratio of economic benefit to investment cost (EcIR). The above ratios are applied to determine the optimum plans with the highest cost-effectiveness for the buildings to be renovated. Secondly, according to the actual situation regarding both the government and residents, EnIR is modified to the ratio of energy-saving benefit from the retrofit plan to the part of the investment cost undertaken by the government (EnIgR), EvIR to the ratio of environmental benefit from the retrofit plan to the part of the investment cost undertaken by the government (EvIgR), and EcIR to the ratio of economic benefit from the retrofit plan to the part of the investment cost undertaken by residents (EcIrR). The modified ratios can increase awareness of residents in respect of their individual benefits from the adoption of the optimum plans, and can attract them to co-invest. Through these two steps, financing difficulties could be eased or even no longer considered as obstacles to some extent. The ratios are applied to a case study building in Hangzhou. Based on the results

  1. Protecting biodiversity when money matters: maximizing return on investment.

    Directory of Open Access Journals (Sweden)

    Emma C Underwood

    Full Text Available BACKGROUND: Conventional wisdom identifies biodiversity hotspots as priorities for conservation investment because they capture dense concentrations of species. However, density of species does not necessarily imply conservation 'efficiency'. Here we explicitly consider conservation efficiency in terms of species protected per dollar invested. METHODOLOGY/PRINCIPAL FINDINGS: We apply a dynamic return on investment approach to a global biome and compare it with three alternate priority setting approaches and a random allocation of funding. After twenty years of acquiring habitat, the return on investment approach protects between 32% and 69% more species compared to the other priority setting approaches. To correct for potential inefficiencies of protecting the same species multiple times we account for the complementarity of species, protecting up to three times more distinct vertebrate species than alternate approaches. CONCLUSIONS/SIGNIFICANCE: Incorporating costs in a return on investment framework expands priorities to include areas not traditionally highlighted as priorities based on conventional irreplaceability and vulnerability approaches.

  2. Real Silver and Its Investment and Business Options

    Directory of Open Access Journals (Sweden)

    Novotný Josef

    2016-06-01

    Full Text Available The article deals with investment and business opportunities offered by silver. Silver is the metal used in industry and for investing at financial markets. The main problem related to this real commodity is the issue of “the undervaluation” of its investment options, if compared to gold. If considering silver as the investment option, its investment potential is significantly enhanced by its industrial usage. The aim of this paper is to highlight business and investment opportunities for both professionals and non professional investors at the commodity markets. The price growth of this investment and industrial metal can generate profits for the investors. And on the other hand, industries which cannot do without silver in their production may efficiently utilize the knowledge of setting up its price at the markets.

  3. Interaction between Financial Intermediation Efficiency and Economic Growth

    Directory of Open Access Journals (Sweden)

    Milka Grbic

    2016-12-01

    Full Text Available Financial intermediaries have the key role in making a connection between savings and investments. Given the fact that an efficient transfer of savings into investments is made more difficult by transaction and information costs, financial intermediaries are specialized in minimizing the said costs per unit of invested capital. They are also trained to identify productive and innovative investment endeavors which contribute to the growth of real output. Real output growth is the basis for increasing the financial potential, which creates the basis for the development of financial intermediaries. In connection with that, apart from the analysis of the relevant factors making the process of the mobilization and transfer of savings more difficult, the theoretical models that put an emphasis on the relationship between the efficiency of financial intermediation and economic growth are discussed in the paper. The research results are indicative of the fact that the improvement in financial intermediaries’ business doing enables faster economic growth. Simultaneously, the growth of the economic activity increases the scope of the business operations conducted by financial intermediaries. Thanks to the effects of the economies of scale that contribute to a reduction in transaction and information costs, the efficiency of financial intermediations grows.

  4. On attracting investment to Russian economy

    Directory of Open Access Journals (Sweden)

    Oleinik Elena

    2017-01-01

    Full Text Available Modern conditions of economic systems development have necessitated more precise directions of investment process for the economic growth to accelerate. The precipitous fall of oil prices that occurred in the second half of 2014 weighed heavily on foreign direct investment flows to oilexporting countries. The problem of attracting investment is one of the key problems of economic development. The aim of this study is to analyze and evaluate the shifts in the structure of investments, the study of the structure of investments to the Russian economy. Structural changes result from differences in the growth rate of the elements forming an economic system. An integral coefficient has been used for evaluation of structural changes. Multiple regression was used to analyze the impact of various factors on the change in structure of investment. The regression coefficients in the model give quantitative assessment of the pace of change in the structure as it depends on a specific factor. The model estimation shows that the variables “share of investments in manufacturing” (positive influence and “share of investments in the health, physical culture, education” (negative influence have the largest t-values. Hence, these two factors influence the structural changes in investments most strongly The evaluation and analysis of the structural shifts may lead to conclusions regarding the efficiency of the structure investment and adjustment of the economic policy.

  5. The Investments in Renewable Energy Sources: Do Low Carbon Economies Better Invest in Green Technologies?

    Directory of Open Access Journals (Sweden)

    Antonio Angelo Romano

    2011-01-01

    Full Text Available The aim of this study is to analyse the driving of investment in renewable energy sources in low carbon and high carbon economies. To address these issues, a dynamic panel analysis of the renewable investment in a sample of 29 countries was proposed. Results demonstrate that the dynamic of investments in renewable sources is similar in the two panels, and depends by nuclear power generation, GDP and technological efficiency. Results show that countries try to reduce their environmental footprint, decreasing the CO2 intensity. Based on the estimation results, we think that energy sustainability passes through the use of renewable resources that can complement the nuclear technology on condition that both exceed their limits.

  6. Capital Markets, Infrastructure Investment and Growth in the Asia Pacific Region

    Directory of Open Access Journals (Sweden)

    Michael Regan

    2017-02-01

    Full Text Available This paper examines the relationship between infrastructure investment activity, capital market development, the role of public institutions and economic development in the Asia Pacific. It adopts a review approach drawing on empirical evidence over recent decades. Infrastructure is shown to be an important asset class playing a central role in a nation’s output, growth, productivity and microeconomic performance. Infrastructure investment also requires investment and predictions of a widening gap in the future supply of infrastructure in the Asia Pacific will require new forms of capital from both traditional and new sources including wider use of private participation, institutional investment, asset recycling and revenue bonds. Capital market development is also necessary to raise long-term local currency finance and evidence suggests that progress with regional capital market integration is slow and a continuing reform agenda is required. The dividend for regional countries is the prospect of higher levels of economic growth with infrastructure investment, capital market development, and foreign direct investment shown to have a strong and positive association with growth. A crucial link in this association identified in the review is the part played by national and regional institutions in improving the efficiency with which infrastructure is managed and providing promising ground for further research where the importance of these links can be researched in greater depth.

  7. MONITORING MECHANISM FOR INVESTMENT DEVELOPMENT OF REGIONS’ INFRASTRUCTURE

    Directory of Open Access Journals (Sweden)

    Halyna Leshuk

    2017-09-01

    of indicators should reflect the change in the level of investment potential as a result of the implementation of measures and implementation of investment projects for the development of regions’ infrastructure; assessing the level of effectiveness of regional infrastructure functioning, using comparative analysis procedures – the concept of benchmarking, which will allow reducing costs of improvement processes accordingly, as the best experience of management of other territories is studied and evaluated in order to use the acquired knowledge in the activities of the authorities. Conclusions. The researched theoretical and methodological principles of the monitoring mechanism of the investment development of the regions’ infrastructure enable to substantiate the necessity of implementation of complex and system monitoring of the functioning of the infrastructure complex and the investment potential of regions. The researched tendencies of investment development of the Ukrainian regions’ infrastructure allowed establishing significant spatial asymmetries, which negatively affects the implementation of both national development strategies and regional programs and concepts. Thus, the main directions of the monitoring mechanism of the investment development of the region’s infrastructure in the composition should be based on analytical observation not only of the regional authorities but also potential investors and the territorial community. Practical meaning. On the basis of official static monitoring data of investment support and the level of development of the infrastructure complex of Ukrainian regions, trends of investment development of the regions infrastructure are investigated in the article, which allows noting about significant territorial imbalances as a level of investment support, as well as the efficiency of the functioning of the regions infrastructure complex, and this determines the need for the development of comprehensive regional

  8. Effective and efficient learning in the operating theater with intraoperative video-enhanced surgical procedure training

    OpenAIRE

    van Det, M.J.; Meijerink, W.J.; Hoff, C.; Middel, B.; Pierie, J.P.

    2013-01-01

    INtraoperative Video Enhanced Surgical procedure Training (INVEST) is a new training method designed to improve the transition from basic skills training in a skills lab to procedural training in the operating theater. Traditionally, the master-apprentice model (MAM) is used for procedural training in the operating theater, but this model lacks uniformity and efficiency at the beginning of the learning curve. This study was designed to investigate the effectiveness and efficiency of INVEST co...

  9. Region innovation and investment development: conceptual theoretical approach and business solutions

    Directory of Open Access Journals (Sweden)

    Zozulya D.M.

    2017-01-01

    Full Text Available The article describes essential problems of the region business innovation and investment development under current conditions, issues of crisis restrictions negotiation and innovation-driven economy formation. The relevance of the research is defined by the need of effective tools creation for business innovation and investment development and support, which can be applied, first, to increase efficiency of the region industrial activity, then improve production competitiveness on the innovative basis, overcome existing problems and provide sustainable innovation development in the region. The results of conducted research are represented in the article including region innovation and investment development concept model made up by the authors on the basis of system theoretical approach. The tools of the region innovation development defined in the concept model are briefly reviewed in the article. The most important of them include engineering marketing (marketing of scientific and technical innovations, strategic planning, benchmarking, place marketing and business process modeling.

  10. A variation reduction allocation model for quality improvement to minimize investment and quality costs by considering suppliers’ learning curve

    Science.gov (United States)

    Rosyidi, C. N.; Jauhari, WA; Suhardi, B.; Hamada, K.

    2016-02-01

    Quality improvement must be performed in a company to maintain its product competitiveness in the market. The goal of such improvement is to increase the customer satisfaction and the profitability of the company. In current practice, a company needs several suppliers to provide the components in assembly process of a final product. Hence quality improvement of the final product must involve the suppliers. In this paper, an optimization model to allocate the variance reduction is developed. Variation reduction is an important term in quality improvement for both manufacturer and suppliers. To improve suppliers’ components quality, the manufacturer must invest an amount of their financial resources in learning process of the suppliers. The objective function of the model is to minimize the total cost consists of investment cost, and quality costs for both internal and external quality costs. The Learning curve will determine how the employee of the suppliers will respond to the learning processes in reducing the variance of the component.

  11. The influence of financial market development on investment activities in a developing country

    Directory of Open Access Journals (Sweden)

    Shirley Malope

    2017-09-01

    Full Text Available Financial markets are considered developed if there is improvement in the size, activity, efficiency and stability of the financial system. The study looked at how financial development based on debt, stock, money and foreign markets affect investment. The Johansen cointegration and Vector Error Correction Model (VECM were used to estimate the short and long run relationship and test for the speed of adjustment. Granger causality test informed about direction of causality, variance decompositions and impulse response indicated effects of shocks. The Johansen cointegration test showed that the variables have a long run relationship. VECM showed that the speed of adjustment is about 13%, which means that variables will converge to equilibrium relatively quickly. The impulse response function indicated that financial market development indicators have short-run effects on investment in the first quarters after the initial shocks. Variance decomposition also indicated that specifically government bonds had greater effect in predicting future investments. The policy implications of these findings are for government to place greater priority on government bonds as its effect on investment is greater than other financial development proxies. Policies should focus on allowing greater risk diversification and improving the independence of the financial sector from government interference

  12. Africa and electricity: To electrify Africa - necessary financial and human investments; The development of hydroelectricity in sub-Saharan Africa; A major challenge: to improve distribution efficiency; Smart grids in Africa?; Rural electrification in Africa; The development of renewable energies in Ethiopia - an example of empowerment of a local structure

    International Nuclear Information System (INIS)

    Horvilleur, Jacques; Favennec, Jean-Pierre; Cerdan, Jean-Pierre; Bauley, Jacky; Caumon, Pauline; Guerin, Andre-Jean; Beaussant, Henri; Louis, Frederic; Sall, Ousmane; Ledoux, Thierry; Boye, Henri; Bagayoko, Moussa

    2016-01-01

    This publication proposes a set of six articles which address various aspects related to the issue of Africa electrification. More precisely, the authors propose a general presentation of the present situation and an assessment of necessary financial, organisational, governance and training investments or needs (To electrify Africa: necessary financial and human investment), illustrate these issues in the case of hydroelectricity-rich Republic of Congo, discuss the issue of financing hydroelectricity development in Africa and of the need of operation and maintenance policies to meet needs associated with sustainable installations (The development of hydroelectricity in sub-Saharan Africa), address issues related to distribution through an improvement of existing distribution networks (A major challenge: to improve distribution efficiency) and through a possible development of smart grids (Smart grids in Africa?), comment issues related to rural electrification as a major challenge for these sometimes very poor areas with almost none financial resources, and evoke the possibilities associated with decentralised photovoltaic production (Rural electrification in Africa), and report interventions of an NGO in Ethiopia based on solar installations and actions of empowerment of local structures (The development of renewable energies in Ethiopia - an example of empowerment of a local structure)

  13. Korean Investment in EU through Holding Companies: A Case Study

    Directory of Open Access Journals (Sweden)

    Seong-Bong Lee

    1998-09-01

    Full Text Available When transnational enterprises set subsidiary companies in certain area, their major aim is to invest indirectly through the holding companies which hold invested share. Especially, because of the geographical neighborhood and economic integration, investing by holding companies is common in Europe. In Europe, taking full advantage of holding company is out of the following two reasons. Firstly, the efficiency and flexibility of the manage strategy of a group could be elevated by making full use of the holding company. Secondly, the transnational enterprises have the possibility of flexible management at the tax strategy level. Recently, the Korean companies are making the best use of holding companies when they are Marching into the EU. In the year 1996, group K purchased 8 enterprises of a certain industry section of B, a German company, setting holding companies in Germany. The analysis result of the case shows that the manage efficiency could be risen and the taxation could be reduced by way of making use of holding companies. As to the Korean investment efficiency of overseas indirect investment in EU, this thesis brought forward a blueprint about integrating the local companies.

  14. PARTICULARITIES OF BUDGETING OF INVESTMENTS YIELD

    Directory of Open Access Journals (Sweden)

    ANCA JARMILA GUŢĂ

    2011-01-01

    Full Text Available The paper presents some particularities of the budget process of all the investments as a main aspect in taking the best decision according to the main use of all the firms’ resources. As a measure method of the investments yield the main one is that which describes the relationship between the profit and the investment which improves the deccisional process.

  15. Renewable Energy Investment in Emerging Markets: Evaluating Improvements to the Clean Development Mechanism

    Directory of Open Access Journals (Sweden)

    Amy Tang

    2014-06-01

    Full Text Available In the past, industrialized countries have invested in or financed numerous renewable energy projects in developing countries, primarily through the Clean Development Mechanism (CDM of the Kyoto Protocol. However, critics have pointed to its bureaucratic structure, problems with additionality and distorted credit prices as ill-equipped to streamline renewable energy investment. In this paper, we simulate the impact of policy on investment decisions on whether or not to invest in wind energy infrastructure in India, Brazil and China. Data from 2,578 past projects as well as literature on investor behaviour is used to inform the model structure and parameters. Our results show that the CDM acts differently in each country and reveal that while streamlining the approval process and reconsidering additionality can lead to non-trivial increase in total investment, stabilizing policy and decreasing investment risk will do the most to spur investment.

  16. Options for Low Income Countries Effective and Efficient Use of Tax Incentives for Investment : A Report to the G-20 Development Working Group by the IMF, OECD, UN and World Bank

    OpenAIRE

    International Monetary Fund; OECD; United Nations; World Bank

    2015-01-01

    Experience shows that there is often ample room for more effective and efficient use of investment tax incentives in low-income countries. Tax incentives generally rank low in investment climate surveys in low-income countries, and there are many examples in which they are reported to be redundant, that is, investment will have been undertaken even without them. And their fiscal cost can b...

  17. Modeling investment uncertainty in the costs of global CO2 emission policy

    International Nuclear Information System (INIS)

    Birge, J.R.; Rosa, C.H.

    1995-01-01

    This paper investigates the effect that explicit modeling of stochastic returns to investment has on the CO 2 abatement policy returned by a large scale macroeconomic model of the United States economy. It was found that a policy derived from the mean value deterministic model in which the random variables of the stochastic model have been replaced by their expected value poorly approximates the optimal policy returned by solving the stochastic programming model. This nonoptimality is measured by determining the value of the stochastic solution and investigating the different evolutionary paths that various macroeconomic variables follow. Macroeconomic variables which stray far from their optimal paths when derived under the assumption of a certain mean valued future are as follows: the level of carbon taxation, investment in new energy production technologies, exploration for nonrenewable resources and investment in improved macroeconomic efficiency. 18 refs., 17 figs., 6 tabs

  18. Formation of the investment mechanism in the agrarian sphere of the region

    Directory of Open Access Journals (Sweden)

    Valentina Arkad'evna Li

    2011-12-01

    Full Text Available This paper reviews investment activity in the agrarian sector of economy of the Russian Federation during the period after overcoming the sharp phase of world financial crisis. Estimation is given to the factors constraining further improvement and development of branches of agriculture, first of all — investment activity. The question of possibility of the account of the earth as resource of mortgaging maintenance in system of crediting of agriculture is revealed. The urgency of creation of Land bank is proved; preconditions for formation of the third link of banking system are defined: a specialized financially-credit institution (mortgage, investment, ground banks with a regulation and supervision particular treatment. Measures regarding a solution of a financial maintenance problem and agriculture crediting are offered. To raise efficiency of crediting of agrarian sector, means of development of institutes of crediting of bank system taking into account post crisis factors are suggested.

  19. Public financial institutions and the low carbon transition: five case studies on low-carbon infrastructure and project investment. Environment working paper No. 72:

    International Nuclear Information System (INIS)

    Cochran, Ian; Hubert, Romain; Marchal, Virginie; Youngman, Robert; Rus, Katerina; Baker, Jade; Kynaston, Jane

    2014-01-01

    Public financial institutions (PFIs) are well-positioned to act as a key leverage point for governments' efforts to mobilise private investment in low-carbon projects and infrastructure. The study identifies the tools, instruments and approaches used by five PFIs to directly support and scale-up domestic private sector investment in sustainable transport, energy-efficiency and renewable energy in OECD countries. Between 2010-2012, these five institutions - Group Caisse des Depots in France, KfW Bankengruppe in Germany, the UK Green Investment Bank, the European Investment Bank, and the European Bank for Reconstruction and Development - have provided over 100 billion euros of equity investment and financing for energy efficiency, renewable energy and sustainable transport projects. They use both traditional and innovative approaches to link low-carbon projects with finance through enhancing access to capital; facilitating risk reduction and sharing; improving the capacity of market actors; and shaping broader market practices and conditions. (authors)

  20. Evaluation of Performance of Investment Funds Based on Decision Models (DEA

    Directory of Open Access Journals (Sweden)

    Alireza Samet

    2016-12-01

    Full Text Available Selection of a suitable investment funds is very important from investors' point of view and may have a significant impact on the profit or loss of the funds. Therefore, evaluation of performance of investment funds to choose the most suitable fund will be given special emphasis. One of the new techniques for evaluating the performance of the Funds based on efficiency is the Data Envelopment Analysis technique. Accordingly, the present study is aimed to analyze and evaluate the performance of investment Funds in capital market of Iran, using the technique of efficiency evaluation through data envelopment analysis technique (DEA. This research is a descriptive - applicable study and to analyze the efficiency and effectiveness, 53 investment funds in the capital market of Iran in 2013 were considered as the sample. To analyze the efficiency of these funds, data envelopment analysis (DEA is used. Research findings showed that in 2013, of a total of 53 examined funds, 11 funds were in the efficiency situation and the other 42 funds were in a state of inefficiency. Also the reference funds and virtual composited funds of all inefficient funds were evaluated.

  1. Financing energy efficiency investments. Third party financing: practical problems and possible solutions

    International Nuclear Information System (INIS)

    Warren, A.

    1992-01-01

    Third Party Financing means the packaging together of both technical aid and the necessary funding for energy cost saving investments by an outside company (outside to the energy user that is), using the energy cost savings themselves to pay for that investment. There are two key factors which differentiate Third Party Financing and conventional approaches to the implementation of energy conservation projects, the first of which is the provision of all the necessary technical services - both initial and detailed energy audits, engineering design and implementation - from one source. The second difference involves viewing the energy cost savings as a ''stream oincome'' which will repay the cost of the investment. This approach has a number of attractions to energy users: the outside company brings both its technical expertise and the necessary up-front capital to fund the energy saving investment. In addition, because the payments to the outside company are contingent, either wholly or in part, upon the level and timing of the energy cost savings the technical and financial risk for the investment is transferred from the energy user to the outside company. However, although simple in concept, third party financing is complex in practice. How does an energy user judge one third party financing proposal against another? If an agreement is made, how are energy savings measured or what happens if there is a dispute between the two parties? These are examples of the practical questions addressed in this paper which must be resolved if third party financing is to be used to assist energy saving. (Author)

  2. Evaluation of learning moments, investment cost and life cost of five EOS DEMO/UKR projects; Evaluatie leermomenten, investerings- en levensduurkosten van vijf EOS DEMO/UKR projecten

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-03-15

    Subsidised, energy efficient building example projects in the Netherlands show that the additional cost of 10 to 15% for the initial investment are compensated by the much lower energy cost later on. A study has been conducted of the relation between investments, housing expenses and energy efficient building [Dutch] Gesubsidieerde, energiezuinig gebouwde voorbeeldprojecten in Nederland tonen aan dat de meerkosten van 10% tot 15% voor de initiele investering opwegen tegen de veel lagere energiekosten later. Een studie is uitgevoerd naar de relatie tussen investeringen, woonlasten en energiezuinig bouwen.

  3. Financial sector reforms and investment efficiency in South Africa ...

    African Journals Online (AJOL)

    The effect of financial liberalization on investment in sub-Saharan Africa countries has drawn much attention in the recent literature. The major thrust of the literature has been to understand the mechanism by which interest rate deregulation on one hand and elimination of other forms of financial repression on the other ...

  4. Particularities Regarding the Evolution and Role of Foreign Direct Investments in Romania’s Economy

    Directory of Open Access Journals (Sweden)

    Ion Botescu

    2016-01-01

    Full Text Available Criticized by some, praised by others foreign direct investments are a financial flow with amajor impact on the economies of many countries. In an increasingly globalized world, the processthrough which multinationals open production and distribution branches over the entire surface ofthe globe is something as natural as possible. After the fall of communism in Europe, Romania has been a favorite destination for manyforeign investors, fact which requires a careful analysis on the dynamics and structure of foreigndirect investment flows attracted by Romania. I have also tried to highlight the nature of the linkbetween the flow of foreign direct investment attracted by Romania and the variations recorded inthe economic development of our country. Given all the positive and negative aspects presented, foreign direct investments are a realityfor Romania, and future policies promoted in the area should stimulate the entry foreign capitalfirms whose work will generate a high level of content of knowledge and technology directlyimpacting the improvement of the economic efficiency at national level.

  5. The financial management as a tool for development investment decision

    Directory of Open Access Journals (Sweden)

    Damnjanović Radovan M.

    2017-01-01

    Full Text Available Investment decisions, which influence the investment of financial resources to achieve economic, non-economic, or of both objectives and effects in the future, the central subject of financial management. Using the methods of financial mathematics can predict the effects of the investment which is from the standpoint of efficiency ratings are expressed in the form of cash future income. Periods, the investments and the use of investment, may be the same or different lengths. From an economic standpoint it is desirable that the period of the investment is short, and the economic effects of the eyelids investments as long as possible. For an investment is said to be cost-effective or cost-effective if the current value of the investment is less than the present value of income from investments.

  6. Sanitation investments in Ghana

    DEFF Research Database (Denmark)

    Awunyo-Akaba, Y.; Awunyo-Akaba, J.; Gyapong, M.

    2016-01-01

    with people’s willingness and ability to invest in household sanitation across all communities. The status of being a stranger i.e. migrant in the area left some populations without rights over the land they occupied and with low incentives to invest in sanitation, while indigenous communities were challenged......Background: Ghana’s low investment in household sanitation is evident from the low rates of improved sanitation. This study analysed how land ownership, tenancy security and livelihood patterns are related to sanitation investments in three adjacent rural and peri-urban communities in a district...... communities were triangulated with multiple interview material and contextual knowledge on social structures, history of settlement, land use, livelihoods, and access to and perceptions about sanitation. Results: This study shows that the history of settlement and land ownership issues are highly correlated...

  7. THE PROFITABILITY – AN ATTRIBUTE OF FINANCIAL AND ACCOUNTING NATURE IN THE DECISION TO INVEST

    Directory of Open Access Journals (Sweden)

    Mihaela TULVINSCHI

    2014-06-01

    Full Text Available The investments represent the primary factor in the development strategy of an economic entity. The role of the investments begins with their purpose, meaning that the investments involve the increasing of a stock portfolio. The research methodology that is approached in this article is based on the analysis of two factors: net present value and internal rate of profitability. Capital budgeting in an investment project that, without a prior analysis of the efficiency of such a decision, can lead to the total or partial loss of the invested capital. An investment project is efficient if the net present value is positive and has a larger value. An investment project becomes more profitable as the value of the internal rate of profitability gets higher. If the two factors are correctly interpreted they lead to exactly the same conclusions regarding the determination of an investment profitability. We can conclude that the two efficiency factors are complementary, their simultaneous use leading to a better grounding of the investment decision than their separate use.

  8. Incentives to improve energy efficiency in EU Grids

    Energy Technology Data Exchange (ETDEWEB)

    Papaefthymiou, G.; Beestermoeller, C.; Gardiner, A.

    2013-04-15

    The Energy Efficiency Directive (2012/27/EU) includes provisions related to network tariffs and regulation. It is timely therefore to revisit the potential options for energy efficiency in grids, the treatment of energy efficiency in network tariffs and alternative policies for improving energy efficiency. This project builds on work done previously for the European Copper Institute in this area. In this paper, we concentrate on energy efficiency in electricity network design and operation. Other articles in the Directive relate to the role of the network tariffs and regulations in enabling or incentivising the provision of energy efficiency to end users. In section 2, we describe technical efficiency measures to reduce losses (improve energy efficiency) in the grid. Section 3 reviews grid tariffs in three countries to identify whether they provide incentives or disincentives for energy efficiency in the grid. Section 4 discusses and evaluates alternative regulations for energy efficiency in grids. Section 5 concludes and discusses the main components of the optimal policy framework.

  9. The Investment Attractiveness of Online Stores as Components of E-Commerce

    Directory of Open Access Journals (Sweden)

    Drozdova Olena G.

    2017-04-01

    Full Text Available Defining the economic efficiency of e-commerce as well as online stores as its constituent stipulates an overall performance evaluation, marketing and investment efficiency (investment attractiveness, and hence the possibility for potential investors to invest their money. The article considers the status and development of e-commerce in Ukraine, evaluating the overall dynamics of e-business. Impact factors and prospects for investments have been identified. The e-trade indicators have been systematized to allow for an integrated approach to information provision in the accounting and economic analysis of enterprise, determining an integral indicator of economic, informational, identification, and emotional functions based on the value coefficients of the respective functions.

  10. Barriers and opportunities for improving energy efficiency in the social housing sector: Case study of E4C's Division of Housing and Mental Health

    Science.gov (United States)

    Marchand-Smith, Patrick

    Energy efficiency improvements in the social housing sector have the potential to produce a range of environmental and social benefits. These improvements can be produced through retrofits that deliver energy savings or new construction built to a high standard of energetic efficiency. However, implementation of these approaches is hindered by economic and organizational constraints affecting the agencies that provide society with social housing and the governments that support the provision of these services. This thesis builds on the work of other researchers studying these constraints by supplying an in-depth case study from Alberta and a discussion based on its findings. The case study focuses on E4C, a social service agency with several housing projects. Overall, findings matched important themes identified in the academic literature. The in-depth nature of the case study added additional insight to many of these themes. Most barriers are economic in nature and related to a lack of sufficient funding or the up-front costs of energy-saving retrofits. The recommendations presented are based on consideration of the multiple barriers and opportunities faced. Most of these require a considerable investment of time on the part of agencies and would be followed up by capital investments to implement energy-saving changes. Therefore it is important to note that the most significant barrier is commitment, which is one of E4C's central values. This thesis showed that commitment cannot exceed capacity to act. Greater commitment on the part of governments, agencies or society at large could have significant impacts in improving the energy efficiency of buildings in the Albertan, and Canadian, social housing sector.

  11. Improving Project Portfolio Management (PPM) for Improvement Projects

    DEFF Research Database (Denmark)

    Pries-Heje, Jan; Jakobsen, Peter M.; Korsaa, Morten

    2017-01-01

    Project Portfolio Management (PPM) focus on the integration and alignment of projects with the business operation in order to achieve most value and cost-efficiency for the investment in projects. PPM is often a challenge and especially so for improvement projects where PPM is considerably...... of evaluating a portfolio of improvement projects and combine this evaluation with the effect they have on the CMMI maturity level. Further, the paper demonstrates how the combination of a strong senior management requirement for improved maturity and the focus on getting the most value out of PPM made...

  12. IMPROVING DEPOSIT POLICY BANK ON THE BASIS OF ANALYSIS OF THE INFLUENCE OF DEPOSIT PORTFOLIO STRUCTURE ON FORMATION OF INVESTMENT RESOURCE

    Directory of Open Access Journals (Sweden)

    Viadrova I.

    2018-01-01

    . The main problems, which arise in the process of deposit-taking banks’ activities, including lack of resource support for active operations to ensure the country’s economic development and ways to improve deposit policy. Conclusions. The basis for the formation of the deposit portfolio structure is the implementation of effective deposit policy, which is extremely important for banking institutions at the present stage of development, as it promotes the improvement of banking activity in the process of attracting funds as an investment resource. The savings of Ukraine’s population have significant potential for further investment. That is why there is a need to build the infrastructure of the financial sector, improve legislation, and increase the overall financial literacy of the population, which should become a prerequisite for investment activity in Ukraine. In today’s conditions of development of the national economy, the question of improving the financial mechanism of converting savings into investment resources is very important, as the investment potential, which is concentrated in the savings of the population, is significant for expanding the boundaries of investment activity in the country.

  13. Modern aspects of tax regulation of investment activity

    Directory of Open Access Journals (Sweden)

    E.S. Podakov

    2016-03-01

    Full Text Available The article investigates the tax regulation of investment activity in modern conditions. Scientists studied different views about the impact of tax regulations on the investment activity in the country. The author determines that the tax regulation of investment activity involves the use of state mechanisms taxation of certain measures to improve investment conditions. The subject is the state tax regulations, and the object is the investment activity of individual and institutional investors of any form of ownership including organizational and legal forms. Such regulation is performed by using complex special tools. The possible methods of tax stimulation of investment processes are described. The article deals with the current results of tax reform in Ukraine and predicts its possible consequences for agricultural producers. The rating positions of Ukraine according to international organizations are showed. The systematic analysis has been carried out and the impact of differential tax rates, tax exemption for a specified period, reducing the tax base, elimination of double taxation on investment activity in certain areas have been researched. The special instruments of investment activity tax regulation are considered. The options for improving investment activity by introducing effective tax regulation are determined.

  14. Energy efficiency in pumps

    Energy Technology Data Exchange (ETDEWEB)

    Kaya, Durmus; Yagmur, E. Alptekin [TUBITAK-MRC, P.O. Box 21, 41470 Gebze, Kocaeli (Turkey); Yigit, K. Suleyman; Eren, A. Salih; Celik, Cenk [Engineering Faculty, Kocaeli University, Kocaeli (Turkey); Kilic, Fatma Canka [Department of Air Conditioning and Refrigeration, Kocaeli University, Kullar, Kocaeli (Turkey)

    2008-06-15

    In this paper, ''energy efficiency'' studies, done in a big industrial facility's pumps, are reported. For this purpose; the flow rate, pressure and temperature have been measured for each pump in different operating conditions and at maximum load. In addition, the electrical power drawn by the electric motor has been measured. The efficiencies of the existing pumps and electric motor have been calculated by using the measured data. Potential energy saving opportunities have been studied by taking into account the results of the calculations for each pump and electric motor. As a conclusion, improvements should be made each system. The required investment costs for these improvements have been determined, and simple payback periods have been calculated. The main energy saving opportunities result from: replacements of the existing low efficiency pumps, maintenance of the pumps whose efficiencies start to decline at certain range, replacements of high power electric motors with electric motors that have suitable power, usage of high efficiency electric motors and elimination of cavitation problems. (author)

  15. Investment Attractiveness of Food Industries in Ukraine

    OpenAIRE

    L. О.

    2017-01-01

    Effective investment is a factor for long-term company development. As enhancement of investment attractiveness is a required condition for economic growth and improvement of living standards, it needs to be on the agenda at government and company level. The article’s objective is to study investment attractiveness of food industries in Ukraine over 2012–2015. Investment attractiveness of food industries can be measured by indicators of liquidity, financial sustainability, and profit rate...

  16. Factor investing based on Musharakah principle

    Science.gov (United States)

    Simon, Shahril; Omar, Mohd; Lazam, Norazliani Md; Amin, Mohd Nazrul Mohd

    2015-10-01

    Shariah stock investing has become a widely discussed topic in financial industry as part of today's investment strategy. The strategy primarily applies market capitalization allocations. However, some researchers have argued that market capitalization weighting is inherently flawed and have advocated replacing market capitalization allocations with factor allocations. In this paper, we discuss the rationale for factor investing based on Musharakah principle. The essential elements or factors of Musharakah principle such as business sector, management capability, profitability growth and capital efficiency are embedded in the Shariah-compliant stock. We then transform these factors into indexation for better analysis and performance measurement. Investment universe for this research covers Malaysian stocks for the period of January 2009 to December 2013. We found out that these factor indexes have historically earned excess returns over market capitalization weighted indexes and experienced higher Sharpe Ratios.

  17. Portfolio management for investment projects in the construction industry

    Directory of Open Access Journals (Sweden)

    Kozlov Alexander

    2017-01-01

    Full Text Available The Russian business community has realized the need for project/targeted programme management procedures; therefore, the demand for customized project-oriented management methods goes up. In the meantime, this demand is not supplied in full, and the supply is far from being efficient. Project management methodologies need further improvement, including development of portfolio management processes applicable to investment projects developed and implemented in the construction industry. The article considers General approaches to the formalization of the management of portfolios of investment–construction projects. For the main groups of processes portfolio management (“Formation and alignment”, “Monitoring and control” and “Support and development” deals with their constituent sub-processes. The proposed decomposition can be used for both portfolio construction and investment projects and also has an invariant character, which allows extending the proposed approaches to other system target–oriented and project–oriented management.

  18. Acute pain management efficiency improves with point-of-care handheld electronic billing system.

    Science.gov (United States)

    Fahy, Brenda G

    2009-02-01

    Technology advances continue to impact patient care and physician workflow. To enable more efficient performance of billing activities, a point-of-care (POC) handheld computer technology replaced a paper-based system on an acute pain management service. Using a handheld personal digital assistant (PDA) and software from MDeverywhere (MDe, MDeverywhere, Long Island, NY), we performed a 1-yr prospective observational study of an anesthesiology acute pain management service billings and collections. Seventeen anesthesiologists providing billable acute pain services were trained and entered their charges on a PDA. Twelve months of data, just before electronic implementation (pre-elec), were compared to a 12-m period after implementation (post-elec). The total charges were 4883 for 890 patients pre-elec and 5368 for 1128 patients post-elec. With adoption of handheld billing, the charge lag days decreased from 29.3 to 7.0 (P billing using PDAs to replace a paper-based billing system improved the collection rate and decreased the number of charge lag days with a positive return on investment. The handheld PDA billing system provided POC support for physicians during their daily clinical (e.g., patient locations, rounding lists) and billing activities, improving workflow.

  19. Investing in cow-welfare – a cost-effective initiative?

    DEFF Research Database (Denmark)

    Kudahl, Anne Braad; Kirchner, Marlene; Denwood, Matt

    2017-01-01

    The aim of the project was to identify the most cost-effective investments in improving welfare for Danish dairy herds by identifying the most serious welfare problems and their causes, suggesting solutions and calculating the economic consequences of investing in the solutions.......The aim of the project was to identify the most cost-effective investments in improving welfare for Danish dairy herds by identifying the most serious welfare problems and their causes, suggesting solutions and calculating the economic consequences of investing in the solutions....

  20. PRODUCTIVITY AND LAND ENHANCING TECHNOLOGIES IN NORTHERN ETHIOPIA: HEALTH, PUBLIC INVESTMENTS, AND SEQUENTIAL ADOPTION

    OpenAIRE

    Ersado, Lire; Amacher, Gregory S.; Alwang, Jeffrey Roger

    2003-01-01

    The adoption of more efficient farming practices and technologies that enhance agricultural productivity and improve environmental sustainability is instrumental for achieving economic growth, food security and poverty alleviation in sub-Saharan Africa. Our research examines the interaction between public investments, community health, and adoption of productivity and land enhancing technologies by households in the northern Ethiopian state of Tigray. Agricultural technology adoption decision...

  1. BRICS Investment Policies from PFI Perspective

    Directory of Open Access Journals (Sweden)

    Andrei Sakharov 

    2017-12-01

    Full Text Available The Organisation for Economic Co-operation and Development (OECD Policy Framework for Investment (PFI contains recommendations and best practices in 12 investment-related policy areas, and is widely regarded as the world’s most comprehensive and authoritative instrument on international investment regulation. The topicality of PFI recommendations for OECD members and other countries, including Russia, is dictated by competition in international investment markets. The instrument’s implementation can significantly boost a national jurisdiction’s attractiveness to investors and thus increase its economic competitiveness. The experience of the BRICS countries as large developing economies involved in collaboration with the OECD could be of great value from the standpoint of PFI implementation in Russia. This article examines investment policies of Brazil, India, China and South Africa from the perspective of PFI recommendations. The analysis is organized around four major themes: the general characteristics of investment regimes and investment stimuli, national investment regulation regimes, trade policies and overcoming structural limitations. The analysis forms the basis for recommendations to improve the investment policy regime in Russia

  2. Investment banks in AIC – alternative loan

    Directory of Open Access Journals (Sweden)

    O.V. Lysenok

    2015-03-01

    Full Text Available Determining the status and problems of modern investment in agricultural enterprises, as well as ways to improve their financial security. The article deals with the essence of investments and their varieties. The dynamics of the securities portfolio of domestic banks and investments in agriculture. According to a study submitted proposals to increase investment banking businesses in the agricultural sector, which is necessary to create such conditions are not included in the calculation of the volume of investment regulations investment banking provided by agribusiness companies; availability of specialized banks, which will focus its resources on the development of agricultural enterprises; give banks the opportunity to issue special investment certificates, which received funds will be channeled exclusively on investing in the development of agricultural enterprises; for the above to create an appropriate legal framework.

  3. Closing the Gap GEF Experiences in Global Energy Efficiency

    CERN Document Server

    Yang, Ming

    2013-01-01

    Energy efficiency plays and will continue to play an important role in the world to save energy and mitigate greenhouse gas (GHG) emissions. However, little is known on how much additional capital should be invested to ensure using energy efficiently as it should be, and very little is known which sub-areas, technologies, and countries shall achieve maximum greenhouse gas emissions mitigation per dollar of investment in energy efficiency worldwide. Analyzing completed and slowly moving energy efficiency projects by the Global Environment Facility during 1991-2010, Closing the Gap: GEF Experiences in Global Energy Efficiency evaluates impacts of multi-billion-dollar investments in the world energy efficiency. It covers the following areas: 1.       Reviewing the world energy efficiency investment and disclosing the global energy efficiency gap and market barriers that cause the gap; 2.       Leveraging private funds with public funds and other resources in energy efficiency investments; using...

  4. Designing regulatory frameworks for merchant transmission investments by real options analysis

    International Nuclear Information System (INIS)

    Pringles, Rolando; Olsina, Fernando; Garcés, Francisco

    2014-01-01

    In deregulated electricity markets, the transmission network is a key infrastructure for enabling competition in the generation sector. A deficient expansion of the transmission grid prevents the realization of the benefits in terms of efficiency associated with market mechanisms. Consequently, it is essential to provide clear investment policies and economic signals to attract timely and efficient transmission investments in order to develop the system at minimum cost meeting the requirements of generators and consumers, while keeping adequate levels of service quality and reliability. This paper proposes a modern tool of economic evaluation based on real options analysis that provides the regulator the ability to assess various incentives that would lead transmission investors to make efficient decisions in highly uncertain environments. Real options properly values partially irreversible investment decisions, such as to defer, modify or abandon an investment project in response to the arrival of new information or as uncertainties are resolved. Decisions are evaluated from the point of view of a transmission investor trying to maximize its own profits in the time period set to recover the capital invested. The results allow the study of the behavior of transmission investors regarding their decision making when they have the possibility to manage the option to defer, under different regulatory schemes that encourage the expansion of the transmission system. - Highlights: • Regulatory frameworks for efficient and timely transmission expansions are designed. • Irreversibility and uncertainty of transmission investment is properly accounted for. • Response of network investors to regulatory incentives is quantitatively established

  5. Influence of elements of “technological revolution” on efficiency of the investment and construction sphere

    Directory of Open Access Journals (Sweden)

    Murashova Olga

    2017-01-01

    Full Text Available The article describes a new view on the investment and construction area taking into consideration the influence of information technologies and innovations. The author has pointed out the basic aspects, which could allow making a break-through in management effectiveness, if being implemented in companies’ business or in investment and construction projects. The article presents the definition of the investment and construction cycle as an integrator of innovation solutions. The paper contains the conclusion about the obvious sector development using active implementation of information modeling of the investment and construction project facilities.

  6. Issues concerning outer space investments in international law ...

    African Journals Online (AJOL)

    Issues concerning outer space investments in international law. ... Recent improvements in technology have in essence increased the viability of outer space as the next frontier for international investment and development. In addition to ... Key words: Outer Space, Investments, International Law, International Space Station ...

  7. Making optimal investment decisions for energy service companies under uncertainty: A case study

    International Nuclear Information System (INIS)

    Deng, Qianli; Jiang, Xianglin; Zhang, Limao; Cui, Qingbin

    2015-01-01

    Varied initial energy efficiency investments would result in different annual energy savings achievements. In order to balance the savings revenue and the potential capital loss through EPC (Energy Performance Contracting), a cost-effective investment decision is needed when selecting energy efficiency technologies. In this research, an approach is developed for the ESCO (Energy Service Company) to evaluate the potential energy savings profit, and thus make the optimal investment decisions. The energy savings revenue under uncertainties, which are derived from energy efficiency performance variation and energy price fluctuation, are first modeled as stochastic processes. Then, the derived energy savings profit is shared by the owner and the ESCO according to the contract specification. A simulation-based model is thus built to maximize the owner's profit, and at the same time, satisfy the ESCO's expected rate of return. In order to demonstrate the applicability of the proposed approach, the University of Maryland campus case is also presented. The proposed method could not only help the ESCO determine the optimal energy efficiency investments, but also assist the owner's decision in the bidding selection. - Highlights: • An optimization model is built for determining energy efficiency investment for ESCO. • Evolution of the energy savings revenue is modeled as a stochastic process. • Simulation is adopted to calculate investment balancing the owner and the ESCO's profit. • A campus case is presented to demonstrate applicability of the proposed approach

  8. Thermal efficiency improvements - an imperative for nuclear generating stations

    International Nuclear Information System (INIS)

    Hassanien, S.; Rouse, S.

    1997-01-01

    A one and a half percent thermal performance improvement of Ontario Hydro's operating nuclear units (Bruce B, Pickering B, and Darlington) means almost 980 GWh are available to the transmission system (assuming an 80% capacity factor). This is equivalent to the energy consumption of 34,000 electrically-heated homes in Ontario, and worth more than $39 million in revenue to Ontario Hydro Nuclear Generation. Improving nuclear plant thermal efficiency improves profitability (more GWh per unit of fuel) and competitiveness (cost of unit energy), and reduces environmental impact (less spent fuel and nuclear waste). Thermal performance will naturally decrease due to the age of the units unless corrective action is taken. Most Ontario Hydro nuclear units are ten to twenty years old. Some common causes for loss of thermal efficiency are: fouling and tube plugging of steam generators, condensers, and heat exchangers; steam leaks in the condenser due to valve wear, steam trap and drain leaks; deposition, pitting, cracking, corrosion, etc., of turbine blades; inadequate feedwater metering resulting from corrosion and deposition. This paper stresses the importance of improving the nuclear units' thermal efficiency. Ontario Hydro Nuclear has demonstrated energy savings results are achievable and affordable. Between 1994 and 1996, Nuclear reduced its energy use and improved thermal efficiency by over 430,000 MWh. Efficiency improvement is not automatic - strategies are needed to be effective. This paper suggests practical strategies to systematically improve thermal efficiency. (author)

  9. Improving plasmonic waveguides coupling efficiency using nanoantennas

    DEFF Research Database (Denmark)

    Andryieuski, Andrei; Malureanu, Radu; Bouillard, Jean-Sebastien

    2012-01-01

    . The classical dipole antenna scheme can be improved by changing the nanoantenna geometry, adding constructive elements such as reflecting bars and mirrors and using arrays of antennas. The modelling designates that the coupling efficiency from a vertical fiber to a plasmonic waveguide can be improved more than......Plasmonic waveguides bear a lot of potential for photonic applications. However, one of the challenges for implementing them in devices is the low coupling efficiency to and from optical fibers. We report on our approach to facilitate the coupling efficiency with the use of metallic nanoantennas...... in 180 times in comparison with a direct fiber-waveguide coupling. Pros and cons of each configuration are discussed. Fabrication and characterisation results are reported....

  10. Investing in acute health services: is it time to change the paradigm?

    Science.gov (United States)

    Kerr, Rhonda; Hendrie, Delia V; Moorin, Rachael

    2014-11-01

    2002, found that investment averages of between 7.1% and 7.9% of recurrent costs primarily replaced existing assets. In 2009, the Productivity Commission and the National Health and Hospitals Reform Commission (NHHRC) recommended capital, for the replacement of buildings and medical equipment, be included in activity-based funding. However, there have been persistent concerns about the reliability and quality of the information on the value of hospital capital assets. WHAT DOES THIS PAPER ADD?: This is the first paper for over a decade to look at hospital capital costs and investment in terms of the services they support. Although health services seek to reap dividends from technology in health care, this study demonstrates that investment relative to services costs has been below sustainable levels for most of the past 10 years. The study questions the helpfulness of the highly aggregated information on capital for public hospital managers striving to improve on the efficient price for services. WHAT ARE THE IMPLICATIONS FOR PRACTITIONERS?: Using specific and accurate information on capital allocations at the DRG level assists health services managers advance their production functions for the efficient delivery of services.

  11. Cancer control in developing countries: using health data and health services research to measure and improve access, quality and efficiency

    Directory of Open Access Journals (Sweden)

    Kangolle Alfred CT

    2010-10-01

    Full Text Available Abstract Background Cancer is a rapidly increasing problem in developing countries. Access, quality and efficiency of cancer services in developing countries must be understood to advance effective cancer control programs. Health services research can provide insights into these areas. Discussion This article provides an overview of oncology health services in developing countries. We use selected examples from peer-reviewed literature in health services research and relevant publicly available documents. In spite of significant limitations in the available data, it is clear there are substantial barriers to access to cancer control in developing countries. This includes prevention, early detection, diagnosis/treatment and palliation. There are also substantial limitations in the quality of cancer control and a great need to improve economic efficiency. We describe how the application of health data may assist in optimizing (1 Structure: strengthening planning, collaboration, transparency, research development, education and capacity building. (2 Process: enabling follow-up, knowledge translation, patient safety and quality assurance. (3 Outcome: facilitating evaluation, monitoring and improvement of national cancer control efforts. There is currently limited data and capacity to use this data in developing countries for these purposes. Summary There is an urgent need to improve health services for cancer control in developing countries. Current resources and much-needed investments must be optimally managed. To achieve this, we would recommend investment in four key priorities: (1 Capacity building in oncology health services research, policy and planning relevant to developing countries. (2 Development of high-quality health data sources. (3 More oncology-related economic evaluations in developing countries. (4 Exploration of high-quality models of cancer control in developing countries. Meeting these needs will require national, regional and

  12. Cancer control in developing countries: using health data and health services research to measure and improve access, quality and efficiency.

    Science.gov (United States)

    Hanna, Timothy P; Kangolle, Alfred C T

    2010-10-13

    Cancer is a rapidly increasing problem in developing countries. Access, quality and efficiency of cancer services in developing countries must be understood to advance effective cancer control programs. Health services research can provide insights into these areas. This article provides an overview of oncology health services in developing countries. We use selected examples from peer-reviewed literature in health services research and relevant publicly available documents. In spite of significant limitations in the available data, it is clear there are substantial barriers to access to cancer control in developing countries. This includes prevention, early detection, diagnosis/treatment and palliation. There are also substantial limitations in the quality of cancer control and a great need to improve economic efficiency. We describe how the application of health data may assist in optimizing (1) Structure: strengthening planning, collaboration, transparency, research development, education and capacity building. (2) PROCESS: enabling follow-up, knowledge translation, patient safety and quality assurance. (3) OUTCOME: facilitating evaluation, monitoring and improvement of national cancer control efforts. There is currently limited data and capacity to use this data in developing countries for these purposes. There is an urgent need to improve health services for cancer control in developing countries. Current resources and much-needed investments must be optimally managed. To achieve this, we would recommend investment in four key priorities: (1) Capacity building in oncology health services research, policy and planning relevant to developing countries. (2) Development of high-quality health data sources. (3) More oncology-related economic evaluations in developing countries. (4) Exploration of high-quality models of cancer control in developing countries. Meeting these needs will require national, regional and international collaboration as well as political

  13. Total Factor Productivity Growth, Technical Progress & Efficiency Change in Vietnam Coal Industry - Nonparametric Approach

    Science.gov (United States)

    Phuong, Vu Hung

    2018-03-01

    This research applies Data Envelopment Analysis (DEA) approach to analyze Total Factor Productivity (TFP) and efficiency changes in Vietnam coal mining industry from 2007 to 2013. The TFP of Vietnam coal mining companies decreased due to slow technological progress and unimproved efficiency. The decadence of technical efficiency in many enterprises proved that the coal mining industry has a large potential to increase productivity through technical efficiency improvement. Enhancing human resource training, technology and research & development investment could help the industry to improve efficiency and productivity in Vietnam coal mining industry.

  14. Evaluation of MIA, Vamil and Green Investments. Investments 2000-2004. Evaluation of tax measures and effects

    International Nuclear Information System (INIS)

    2007-07-01

    The Environmental Investment Allowance (MIA), the Random Depreciation of Environmental Investments (VAMIL) and green investments entail fiscal costs that need ex-post evaluation based on the regulations of the RPE (ministerial regulation on performance measurement and evaluation). The aim of the evaluation was to describe the effectiveness of the policy instruments and their implementation. In addition to this basic objective a secondary objective was to provide insight in the expenditure of the means and to list improvement options. [mk] [nl

  15. Political Connections and Investment in Rural Vietnam

    DEFF Research Database (Denmark)

    Markussen, Thomas; Tarp, Finn

    This paper uses household panel data from rural Vietnam to explore the effects of having a relative in a position of political or bureaucratic power on farmers’ agricultural investment decisions. Our main result is that households significantly increase their investment in land improvement...... as a result of relatives moving into public office. Connections to office holders appear to be important for investment because they strengthen de facto land property rights and improve access to off-farm employment and to informal loans. The findings underline the importance of informal networks for economic...... behaviour in environments with developing institutions and markets. They also suggest the presence of an untapped potential for economic development: if households without connections could obtain equally strong property rights and access to credit and insurance as the well-connected households, investment...

  16. Energy-Efficiency Retrofits in Small-Scale Multifamily Rental Housing: A Business Model

    Science.gov (United States)

    DeChambeau, Brian

    The goal of this thesis to develop a real estate investment model that creates a financial incentive for property owners to perform energy efficiency retrofits in small multifamily rental housing in southern New England. The medium for this argument is a business plan that is backed by a review of the literature and input from industry experts. In addition to industry expertise, the research covers four main areas: the context of green building, efficient building technologies, precedent programs, and the Providence, RI real estate market for the business plan. The thesis concludes that the model proposed can improve the profitability of real estate investment in small multifamily rental properties, though the extent to which this is possible depends partially on utility-run incentive programs and the capital available to invest in retrofit measures.

  17. Low Impedance Voice Coils for Improved Loudspeaker Efficiency

    DEFF Research Database (Denmark)

    Iversen, Niels Elkjær; Knott, Arnold; Andersen, Michael A. E.

    2015-01-01

    In modern audio systems utilizing switch-mode amplifiers the total efficiency is dominated by the rather poor efficiency of the loudspeaker. For decades voice coils have been designed so that nominal resistances of 4 to 8 Ohms is obtained, despite modern audio amplifiers, using switch-mode techno...... responses are estimated. For this woofer it is shown that the sensitivity can be improved approximately 1 dB, corresponding to a 30% efficiency improvement, just by increasing the fill factor using a low impedance voice coil with rectangular wire....

  18. Distance to the efficiency frontier and foreign direct investment spillovers

    Czech Academy of Sciences Publication Activity Database

    Sabirianova Peter, K.; Švejnar, Jan; Terrell, K.

    2005-01-01

    Roč. 3, 2-3 (2005), s. 576-586 ISSN 1542-4766 Institutional research plan: CEZ:AV0Z70850503 Keywords : foreign direct investment * technological frontier Subject RIV: AH - Economics http://ejournals.ebsco.com/direct.asp?ArticleID=4D4281930A8929DFF628

  19. Delaying investments in sensor technology: The rationality of dairy farmers' investment decisions illustrated within the framework of real options theory.

    Science.gov (United States)

    Rutten, C J; Steeneveld, W; Oude Lansink, A G J M; Hogeveen, H

    2018-05-02

    The adoption rate of sensors on dairy farms varies widely. Whereas some sensors are hardly adopted, others are adopted by many farmers. A potential rational explanation for the difference in adoption may be the expected future technological progress in the sensor technology and expected future improved decision support possibilities. For some sensors not much progress can be expected because the technology has already made enormous progress in recent years, whereas for sensors that have only recently been introduced on the market, much progress can be expected. The adoption of sensors may thus be partly explained by uncertainty about the investment decision, in which uncertainty lays in the future performance of the sensors and uncertainty about whether improved informed decision support will become available. The overall aim was to offer a plausible example of why a sensor may not be adopted now. To explain this, the role of uncertainty about technological progress in the investment decision was illustrated for highly adopted sensors (automated estrus detection) and hardly adopted sensors (automated body condition score). This theoretical illustration uses the real options theory, which accounts for the role of uncertainty in the timing of investment decisions. A discrete event model, simulating a farm of 100 dairy cows, was developed to estimate the net present value (NPV) of investing now and investing in 5 yr in both sensor systems. The results show that investing now in automated estrus detection resulted in a higher NPV than investing 5 yr from now, whereas for the automated body condition score postponing the investment resulted in a higher NPV compared with investing now. These results are in line with the observation that farmers postpone investments in sensors. Also, the current high adoption of automated estrus detection sensors can be explained because the NPV of investing now is higher than the NPV of investing in 5 yr. The results confirm that

  20. Wastewater treatment facilities: Energy efficient improvements and cogeneration

    International Nuclear Information System (INIS)

    Kunkle, R.; Gray, R.; Delzel, D.

    1992-10-01

    The Washington State Energy Office (WSEO) has worked with both the Bonneville Power Administration (BPA) and the US Department of Energy to provide technical and financial assistance to local governments. Based on a recent study conducted by Ecotope for WSEO, local governments spend an estimated $45 million on utility bills statewide. Water and wastewater facilities account for almost a third of this cost. As a result, WSEO decided to focus its efforts on the energy intensive water and wastewater sector. The ultimate goal of this project was to develop mechanisms to incorporate energy efficiency improvements into wastewater treatment facilities in retrofits and during upgrades, remodels, and new construction. Project activities included the following: The review of the existing regulatory environment for treatment system construction, A summary of financing options for efficiency improvements in treatment facilities, A literature review of energy efficiency opportunities in treatment plants, Survey and site visits to characterize existing facilities in Washington State, Estimates of the energy efficiency and cogeneration potential in the sector, and A case study to illustrate the implementation of an efficiency improvement in a treatment facility

  1. THE EFFICIENCY OF FOREIGN INVESTMENTS IN THE FINANCING OF AUDITED ENTITIES

    Directory of Open Access Journals (Sweden)

    Berinde Sorin

    2013-07-01

    Full Text Available The auditing of the financial statements is a certification service intended to offer the users more credibility regarding the quality of accounting information. This is the reason why the present study selected all the Cluj county entities that, according to the public information, between 2005-2012 were subject to financial audit in order to estimate, at this level, the influence of foreign investments in the financing structure. The information provided by the financial statements of these audited entities (with or without foreign participation in share capital was analyzed for the calculation of the relevant indicators to determine the evolution of the equity financing, the recourse to external financing funds, the ratio of external funds and equity funds used for financing and the assessment of the efficiency of foreign capital invested at the level of these entities. In order to meet this objective, we considered the information from the financial statements of the concerned entities, published between 2008-2011. For the relevance of the study, we eliminated the audited entities that did not have financial statements published in all of the four financial years for various reasons (dissolution, liquidation, merger, or temporary suspension of activity or had negative working capital. The financial statement information was analyzed in view of the calculation for each audited entity of the rate of financial autonomy, the debt ratio, the debt to equity ratio and of the rotation speed of equity. The audited entities were classified into 2 major categories: audited entities with a foreign participation in share capital and audited entities with the whole share capital financed by equity funds. We applied the simple average method at the level of the both audited entities categories for each of the four analyzed indicators. Furthermore, we performed an analysis from the static and dynamic point of view of the results. The conclusions that we

  2. STATE REGULATION OF INVESTMENT INSURANCE COMPANIES IN UKRAINE

    Directory of Open Access Journals (Sweden)

    О. Zaletov

    2016-03-01

    Full Text Available In the article the essence of investment insurance company. The role and importance of investment of insurance companies on formation of investment resources in the economy. The essence of the definition of "investment potential of insurance companies" and its relationship with the definition of "financial strength of insurance companies' insurance and potential insurance companies." By analyzing the structure and dynamics of aggregate investment portfolio of insurance organizations of Ukraine in 2008-2015 years defined contribution insurance sector in the formation of investment resources. The problems and prospects of the investment potential of the insurance market of Ukraine. Directions of improvement of state regulation of investment of insurance companies in Ukraine.

  3. Improved Efficient Routing Strategy on Scale-Free Networks

    Science.gov (United States)

    Jiang, Zhong-Yuan; Liang, Man-Gui

    Since the betweenness of nodes in complex networks can theoretically represent the traffic load of nodes under the currently used routing strategy, we propose an improved efficient (IE) routing strategy to enhance to the network traffic capacity based on the betweenness centrality. Any node with the highest betweenness is susceptible to traffic congestion. An efficient way to improve the network traffic capacity is to redistribute the heavy traffic load from these central nodes to non-central nodes, so in this paper, we firstly give a path cost function by considering the sum of node betweenness with a tunable parameter β along the actual path. Then, by minimizing the path cost, our IE routing strategy achieved obvious improvement on the network transport efficiency. Simulations on scale-free Barabási-Albert (BA) networks confirmed the effectiveness of our strategy, when compared with the efficient routing (ER) and the shortest path (SP) routing.

  4. The gain from improved market efficiency

    DEFF Research Database (Denmark)

    Ejrnæs, Mette; Persson, Karl Gunnar

    2010-01-01

    demand as well as excess supply, which triggered off the tâtonnement process. Over time, adjustments to equilibrium, as measured by the half-life of a shock, became faster and violations of the law of one price become smaller. There were significant gains from improved market efficiency, which took place......This article looks at the gains from improved market efficiency in long-distance grain trade in the second half of the nineteenth century, when violations of the law of one price were reduced due to improved information transmission. Two markets, a major export centre, Chicago, and a major importer......, Liverpool, are analysed. We show that the law of one price equilibrium was an ‘attractor equilibrium'. The implication is that prices converged to that equilibrium in a tâtonnement process. Because of asymmetrically timed information between markets separated by long distances there were periods of excess...

  5. Does Foreign Direct Investment Affect Green Growth? Evidence from China’s Experience

    Directory of Open Access Journals (Sweden)

    Shujing Yue

    2016-02-01

    Full Text Available Foreign Direct Investment (FDI not only affects the economic growth but also affects the environmental protection of the host country. With China’s background of pursuing green growth, we need to consider the performance of FDI from the economic and environmental benefit aspects. On this basis, using slacks-based measure directional distance function (SBMDDF to build up green growth efficiency, economic efficiency and environmental efficiency indexes, empirical research on FDI in 104 Chinese cities from 2004 to 2011 has shown that: (1 Different cities have differences in their green growth efficiency. Shenzhen city is always efficient in green economic growth. (2 Overall, FDI is positive on Chinese cities’ green growth. (3 When the green growth efficiency is broken down into economic efficiency and environmental efficiency, FDI promotes China’s economic green growth through both environmental benefits and economic benefits. (4 The effect of FDI differs in different sectors. FDI in the emission-intensive sector promotes green efficiency mainly through the improvement of economic efficiency. FDI in the non-emission-intensive sector promotes economic efficiency, environmental efficiency and green efficiency.

  6. A framework for social investment strategies

    DEFF Research Database (Denmark)

    Kvist, Jon

    2015-01-01

    and multidimensional nature of social issues and social investments. Theoretically, this article establishes such a framework consisting of generational, life course and gender perspectives on social investments. The generational perspective brings out that social investments involve horizontal redistribution......, underpin the productive and reproductive social contract between generations, and the increased diversity within generations. The life course perspective demonstrates how social issues and social investments in one life stage depend on the situation in prior life stages and affect the situation in later...... life stages and, possibly, in multiple dimensions. The gender perspective shows how social investments can improve economic and social returns when gender and ageing over the life course are taken into consideration. Empirically, cross-national patterns indicate a positive relation between social...

  7. Investment, regulation, and uncertainty

    Science.gov (United States)

    Smyth, Stuart J; McDonald, Jillian; Falck-Zepeda, Jose

    2014-01-01

    As with any technological innovation, time refines the technology, improving upon the original version of the innovative product. The initial GM crops had single traits for either herbicide tolerance or insect resistance. Current varieties have both of these traits stacked together and in many cases other abiotic and biotic traits have also been stacked. This innovation requires investment. While this is relatively straight forward, certain conditions need to exist such that investments can be facilitated. The principle requirement for investment is that regulatory frameworks render consistent and timely decisions. If the certainty of regulatory outcomes weakens, the potential for changes in investment patterns increases.   This article provides a summary background to the leading plant breeding technologies that are either currently being used to develop new crop varieties or are in the pipeline to be applied to plant breeding within the next few years. Challenges for existing regulatory systems are highlighted. Utilizing an option value approach from investment literature, an assessment of uncertainty regarding the regulatory approval for these varying techniques is undertaken. This research highlights which technology development options have the greatest degree of uncertainty and hence, which ones might be expected to see an investment decline. PMID:24499745

  8. Historical return on investment and improved quality resulting from development and mining of a hospital laboratory relational database.

    Science.gov (United States)

    Brimhall, Bradley B; Hall, Timothy E; Walczak, Steven

    2006-01-01

    A hospital laboratory relational database, developed over eight years, has demonstrated significant cost savings and a substantial financial return on investment (ROI). In addition, the database has been used to measurably improve laboratory operations and the quality of patient care.

  9. Discontinuous interleaving of parallel inverters for efficiency improvement

    DEFF Research Database (Denmark)

    Rannestad, Bjørn; Munk-Nielsen, Stig; Gadgaard, Kristian

    2017-01-01

    Interleaved switching of parallel inverters has previously been proposed for efficiency/size improvements of grid connected three-phase inverters. This paper proposes a novel interleaving method which practically eliminates insulated gate bipolar transistor (IGBT) turn-on losses and drastically...... overall power module losses are reduced. The modulation strategy is suited for converters with doubly fed induction generators (DFIG) for wind turbines, but are not limited hereto. Improvement of switching performance are measured and operational efficiency improvements are calculated and verified...

  10. INVESTMENT EFFICIENCY IN NEW HOTEL BUILDINGS IN CROATIA

    Directory of Open Access Journals (Sweden)

    Eddy Rot

    2012-12-01

    Full Text Available Abandonment of mass tourism in the late 80-ies of 20th century and attitude of humane tourism oriented to the needs and requirements of individuals, it is characterized by changes in the design and architectural design of hotel facilities. Features and functionality of hotel facilities are affected by trends in tourism demand. Tourism gets new features, which hotel companies must adapt. Individualism, humanism and hedonism are the guidelines that accompany the tourist industry in the 21st century. They determine the new considerations shaping and arranging hotel facilities, and the need for transformation of the hotel buildings designed for mass tourism in facilities for contemporary tourist who is aware of his needs, desires and aspirations. These trends should be monitored and the hotel industry in Croatia. The last decade marked by investments in reconstruction and modernization of existing hotel facilities, but investment in new hotel facilities are still minor. The reason for this is the fact that the hotel industry is low profitable activity, but also in the unfinished privatization, lack of domestic financial capital and the lack of attractiveness of the Croatia to attract foreign capital which would allow meaningful construction of new and rehabilitation of existing hotel facilities in line with trends in the tourism market. This paper critically examines the state of the hotel industry in the Republic of Croatia and its competitiveness in Europe, and it presents the results of research on the effectiveness of building a fictional hotel in Croatia, with a comparative analysis with European hotels.

  11. Potential of energy efficiency measures in the world steel industry.

    NARCIS (Netherlands)

    Galama, Tjebbe

    2013-01-01

    SUMMARY The world steel industry plays a major role in energy use and Greenhouse Gas (GHG) emissions now and in the future. Implementing energy efficiency measures is among one of the most cost-effective investments that the industry could make in improv

  12. IMPROVED METHOD OF DETERMINATION OF ECONOMIC EFFICIENCY OF CONSTRUCTION AND OPERATION OF HIGH SPEED MAINLINE IN UKRAINE

    Directory of Open Access Journals (Sweden)

    YU. S. Barash

    2014-01-01

    Full Text Available Purpose. To develop an advanced methodology and formulate the measures concerning the definition of economic efficiency of high-speed movement organization taking into account the operating experience of rapid transportations in Ukraine, travel time, number of stops on the route, schedule and the demand for these transportations. Methodology. The economic feasibility for appropriateness of high-speed movement organization in Ukraine is an investment project, which involves step-by-step money investment to the construction. To solve such problems one uses net present value, which UZ or newly created companies can get during the project realization and after its completion. Findings. On the basis of obtained studies one can state that the methodology of complex determination of construction efficiency and high-speed passenger trains operation taking into account the cost of infrastructure, rolling stock, impact of environmental factors, etc. was developed in the article. Originality. We propose a scientific approach to determine the economic efficiency of the construction and high-speed main lines operation. This approach, unlike the existing one, includes the improved principles of determining the passenger traffic, the cost of high-speed mainline construction, the number of rolling stock; optimizes income and expenditure calculations in the context of competitive advantages and impact of the external factors on the company. For the first time it was taken into account the transit flow of passengers departing from CIS countries to the vacation in the Crimea, the Carpathians, Odessa and Lviv regions. The account of these factors increases the feasibility of administrative decisions concerning ensuring the efficiency of high-speed traffic functioning. Practical value. The proposed methodology and the research results allowed determining the construction reasonability of high-speed mainline for the passenger trains with a speed at least250 km/h in

  13. EVALUATION OF ECONOMIC EFFICIENCY OF INVESTMENT IN THE INDUSTRIAL LOGISTICS PARK OF THE NOVOSIBIRSK REGION

    Directory of Open Access Journals (Sweden)

    Kogan A. B.

    2016-03-01

    Full Text Available The author describes a method for estimation the economic efficiency, based on the input-output model. The proposed method develops the author of well-known methods of cost-benefits analysis. The method is used to assess the effectiveness of budget financing the establishment of Industrial logistics Park (PLP in the Novosibirsk region (NSO. The estimation is based on the input-output model developed for the NSO. Economic benefits are assessed on the basis of growth in gross value added (GVA. This takes into account a number of losses GVA, for example, losses due to the displacement of existing producers, losses due to the purchase of imported resources, etc. Economiccosts is estimated as a fulloutput of the economy, necessary for the establishment and operation of the investment project.

  14. An improved mechanism for capacity payment based on system dynamics modeling for investment planning in competitive electricity environment

    International Nuclear Information System (INIS)

    Assili, Mohsen; Javidi, D.B.; Hossein, M.; Ghazi, Reza

    2008-01-01

    Many countries have experienced restructuring in their electric utilities. This restructuring has presented the power industries with new challenges, the most important of which is long-term investment planning under uncertain conditions. This paper presents an improved mechanism for capacity payment. The mechanism has been investigated based on system dynamic modeling. In our proposed mechanism, generators will recover a part of their investment through capacity payment. While the payment for any plant remains constant during the operation period, it depends on the investment needed to build it. The main factors affecting long-term planning have been considered in our model. The approach can be used to investigate the effects of fixed as well as variable capacity payment in market investment. We used the probability density function of load as a new concept to calculate average market price. Delays in unit constructions, estimation of demand, and market capacity growth during construction periods have been included in the proposed algorithm as parameters, which affect the regulator's decision for changing capacity payment. The model can be used by regulators to investigate strategies that may affect the fluctuations in the market

  15. An improved mechanism for capacity payment based on system dynamics modeling for investment planning in competitive electricity environment

    Energy Technology Data Exchange (ETDEWEB)

    Assili, Mohsen; Javidi DB, M. H.; Ghazi, Reza [Department of Electrical Engineering, Ferdowsi University of Mashhad, Mashhad (Iran)

    2008-10-15

    Many countries have experienced restructuring in their electric utilities. This restructuring has presented the power industries with new challenges, the most important of which is long-term investment planning under uncertain conditions. This paper presents an improved mechanism for capacity payment. The mechanism has been investigated based on system dynamic modeling. In our proposed mechanism, generators will recover a part of their investment through capacity payment. While the payment for any plant remains constant during the operation period, it depends on the investment needed to build it. The main factors affecting long-term planning have been considered in our model. The approach can be used to investigate the effects of fixed as well as variable capacity payment in market investment. We used the probability density function of load as a new concept to calculate average market price. Delays in unit constructions, estimation of demand, and market capacity growth during construction periods have been included in the proposed algorithm as parameters, which affect the regulator's decision for changing capacity payment. The model can be used by regulators to investigate strategies that may affect the fluctuations in the market. (author)

  16. The Cost-Effectiveness of Investments to Meet the Guiding Principles for High-Performance Sustainable Buildings on the PNNL Campus

    Energy Technology Data Exchange (ETDEWEB)

    Cort, Katherine A.; Judd, Kathleen S.

    2014-08-29

    As part its campus sustainability efforts, Pacific Northwest National Laboratory (PNNL) has invested in eight new and existing buildings to ensure they meet the U.S. Department of Energy’s requirements for high performance sustainable buildings (HPSB) at DOE sites. These investments are expected to benefit PNNL by reducing the total life-cycle cost of facilities, improving energy efficiency and water conservation, and making buildings safer and healthier for the occupants. This study examines the cost-effectiveness of the implementing measures that meet the criteria for HPSBs in 3 different types of buildings on the PNNL campus: offices, scientific laboratories, and data centers. In each of the three case studies examined the investments made to achieve HPSB status demonstrated a high return on the HPSB investments that have taken place in these varied environments. Simple paybacks for total investments in the three case study buildings ranged from just 2 to 5 years; savings-to-investment ratios all exceeded the desirable threshold of 1; and the net present values associated with these investments were all positive.

  17. LEGISLATIVE REGULATION OF FOREIGN INVESTMENT IN UKRAINE

    Directory of Open Access Journals (Sweden)

    K. V. Zhyzhko

    2009-09-01

    Full Text Available In this article the basic regulatory documents controlling the foreign investments in Ukraine are considered and the recommendations for their improvement are proposed. Main disadvantages of present situation retarding the investing in Ukraine are analyzed.

  18. Recovery Act--Class 8 Truck Freight Efficiency Improvement Project

    Energy Technology Data Exchange (ETDEWEB)

    Trucks, Daimler [Daimler Trucks North America Llc, Portland, OR (United States)

    2015-07-26

    Daimler Trucks North America completed a five year, $79.6M project to develop and demonstrate a concept vehicle with at least 50% freight efficiency improvement over a weighted average of several drive cycles relative to a 2009 best-in-class baseline vehicle. DTNA chose a very fuel efficient baseline vehicle, the 2009 Freightliner Cascadia with a DD15 engine, yet successfully demonstrated a 115% freight efficiency improvement. DTNA learned a great deal about the various technologies that were incorporated into Super Truck and those that, through down-selection, were discarded. Some of the technologies competed with each other for efficiency, and notably some of the technologies complemented each other. For example, we found that Super Truck’s improved aerodynamic drag resulted in improved fuel savings from eCoast, relative to a similar vehicle with worse aerodynamic drag. However, some technologies were in direct competition with each other, namely the predictive technologies which use GPS and 3D digital maps to efficiently manage the vehicles kinetic energy through controls and software, versus hybrid which is a much costlier technology that essentially targets the same inefficiency. Furthermore, the benefits of a comprehensive, integrated powertrain/vehicle approach was proven, in which vast improvements in vehicle efficiency (e.g. lower aero drag and driveline losses) enabled engine strategies such as downrating and downspeeding. The joint engine and vehicle developments proved to be a multiplier-effect which resulted in large freight efficiency improvements. Although a large number of technologies made the selection process and were used on the Super Truck demonstrator vehicle, some of the technologies proved not feasible for series production.

  19. Conceptual and methodological approaches to evaluation of investment attractiveness of enterprises engaged in transportations

    Directory of Open Access Journals (Sweden)

    Olha Myshkovych

    2016-12-01

    Full Text Available The aim of the article is to analyze the conceptual and methodological approaches to determining the investment attractiveness of enterprises engaged in transportations. It is indicated that the investment attractiveness of transport enterprises should be determined by calculating of the overall financial situation of enterprises, which will allow potential investors to evaluate profitability and cost efficiency of its activity. An analysis of the strengths and weaknesses of the enterprise engaged in transportation can be accomplished by the evaluation of its innovative capacity. The identification of factors and reserves of the increasing of enterprise innovative development will allow distinguishing of the basic directions for the improvement of organizational and economic mechanism of its activity. With the aim of building the strategy for the strengthening of market position it is also considered important for the potential investor to obtain the information about enterprise place on the national and international markets. Political and legal environment, characterized by political stability of society and the regulatory framework of entrepreneurial and investment activity serve as a certain guarantee of the investment reliability.

  20. China: to invest in energy management. Proceedings of the French-Chinese seminar, Chengdu (Sichuan), 2006

    International Nuclear Information System (INIS)

    Bourguinat, Elisabeth; Gromard, Christian de; Breton, Herve; Francoz, Eric J.F.; Richard, Christophe; Henry, Alain; Xuhong, Liu; Henry, Alain; Yaping, Li; Dumasy, Jacques; Fabre, Thibaut; Lopez, Jose; Yazhong, Liu; Wenbin, Lu; Huang, Zhou; Plazy, Jean-Louis; Irigoin, Michel; Raoust, Michel; Devillier, Thierry; Jianping, Chen; Mezghani, Mohamed; Delcroix, Jean; Gerbeaux, Jean-Marie; Yande, Dai; Mulet, Jean-Charles; Junfeng, Li; Crepon, Olivier; Tournaye, Dominique; Thornald Decrop, Louis

    2008-01-01

    Energy management encompasses demand regulation (energy sobriety), efficiency improvements (energy efficiency), and the promotion of renewable energies. After opening speeches, a first set of contributions addressed methodological issues and status of energy management, with notably a characterisation of investments in energy efficiency (organisation per sector, economic elaboration combining regulative and financial measures, combination of incentive measures to correct market insufficiencies), an overview of R and D activities in France, a discussion of lessons learned for emerging countries for the experience of energy efficiency in Europe, an overview of actions and investments in China, and of the Chinese policy for renewable energies. The next sessions addressed various themes like urban organisation (energy efficient cities, actions by the AFD, twenty years of energy efficiency in Montpellier in France), the building sector (thermal rehabilitation, equipment and training in China, heat pumps and energy storage), the transport sector (urban transport, reduction of emissions by urban transport, railways), the industrial sector, the production of renewable or efficient energy (promotion of renewable energies in European grids, market perspectives in China). Some case studies are then reported: tri-generation in Montpellier, the revival of small hydraulic plants, development of geothermal energy in France and opportunities in China, coal-bagasse co-generation in France and Maurice Island. The last part addressed financial tools for a high energy quality in China

  1. Promoting Sustainability through Investment in Building Information Modeling (BIM Technologies: A Design Company Perspective

    Directory of Open Access Journals (Sweden)

    Marius Reizgevičius

    2018-02-01

    Full Text Available The aim of this article is to enhance the understanding of how design companies perceive the benefits of Building Information Modeling (BIM technologies application. BIM is recognized in the literature as a (potentially powerful driver leading the construction sector towards sustainability. However, for design companies, the choice to invest in BIM technologies is basically an economic one. Specifically, a design company assesses economic benefits and efficiency improvements thanks to the application of BIM technologies. The article discusses the return on investments (ROI in BIM technologies and reviews ROI calculation methodologies proposed by other authors. In order to evaluate BIM return on investment correctly practical ROI calculations are carried out. Appropriate methods, together with the relevant variables for ROI calculation, are developed. The study allows for adjusting the calculation method making it more accurate and understandable using the Autodesk Revit based ROI calculation of the first year.

  2. A treatment of thermal efficiency improvement in the Brayton cycle

    International Nuclear Information System (INIS)

    Fujii, Terushige; Akagawa, Koji; Nakanishi, Shigeyasu; Inoue, Kiyoshi; Ishigai, Seikan.

    1982-01-01

    So far, as the working fluid for power-generating plants, mainly water and air (combustion gas) have been used. In this study, in regeneration and isothermal compression processes being considered as the means for the efficiency improvement in Brayton cycle, the investigation of equivalent graphical presentation method with T-S diagrams, the introduction of the new characteristic number expressing the possibility of thermal efficiency improvement by regeneration, and the investigation of the effect of the difference of working fluid on thermal efficiency were carried out. Next, as the cycle approximately realizing isothermal compression process with condensation process, the super-critical pressure cycle with liquid phase compression was rated, and four working fluids, NH 3 , SO 2 , CO 2 and H 2 O were examined as perfect gas and real gas. The advantage of CO 2 regeneration for the thermal efficiency improvement was clarified by using the dimensionless characteristic number. The graphical presentation of effective work, the thermal efficiency improvement by regeneration, the thermal efficiency improvement by making compression process isothermal, the effect on thermal efficiency due to various factors and working fluids, the characteristic number by regeneration, and the application to real working fluids are reported. (Kako, I.)

  3. Inverse Statistics and Asset Allocation Efficiency

    Science.gov (United States)

    Bolgorian, Meysam

    In this paper using inverse statistics analysis, the effect of investment horizon on the efficiency of portfolio selection is examined. Inverse statistics analysis is a general tool also known as probability distribution of exit time that is used for detecting the distribution of the time in which a stochastic process exits from a zone. This analysis was used in Refs. 1 and 2 for studying the financial returns time series. This distribution provides an optimal investment horizon which determines the most likely horizon for gaining a specific return. Using samples of stocks from Tehran Stock Exchange (TSE) as an emerging market and S&P 500 as a developed market, effect of optimal investment horizon in asset allocation is assessed. It is found that taking into account the optimal investment horizon in TSE leads to more efficiency for large size portfolios while for stocks selected from S&P 500, regardless of portfolio size, this strategy does not only not produce more efficient portfolios, but also longer investment horizons provides more efficiency.

  4. A local initiative for energy efficiency improvements in motor driven systems in public and private companies - case studies

    Energy Technology Data Exchange (ETDEWEB)

    Tamm, G. [Behoerde fuer Stadtentwicklung und Umwelt, Hamburg (Germany)

    2005-07-01

    In the free and hanseatic town Hamburg reduction potentials in public buildings are developed systematically in the context of the energy management by standardised efficiency programs. The City has had special means ready for financing energy saving measures for many years, because the investments amortize themselves by the operation cost reduction. Examples of efficient electrical motor systems in public buildings: ventilation facilities and air conditioning, heating pumps energy saving program. The city of Hamburg also offers a promotional program ''enterprises for resource protection'' for private investors from the Hamburg economy. With this program voluntary investment measures are initiated in private enterprises by financial subsidies to conserving resources. Examples of efficient electrical motor driven systems in enterprises: mill: speed controlled exhauster drives, spice mill: speed controlled mill drives, printer: efficient ventilation techniques at a paper exhaust system, wastewater treatment: adjustable fans for pressure aerators, hazardous waste incineration plant: optimisation of the SO{sub 2}-gas scrubbing system by mass flow controlled pumps. With these programs efforts to climate protection can be realised more economically. (orig.)

  5. SAGD CO2 mitigation through energy efficiency improvements

    International Nuclear Information System (INIS)

    Plessis du, D.

    2010-01-01

    An evaluation of the carbon dioxide (CO 2 ) emissions reductions achieved using energy efficiency measures in steam assisted gravity drainage (SAGD) operations was presented. The efficiency of a typical SAGD operation was analyzed using an indexing tool based on the Carnot cycle efficiency to develop an ideal SAGD heat cycle. The benefits of using an organic Rankine cycle (ORC) technology to convert waste heat to electrical power were also investigated. A CO 2 abatement curve was used to identify the economic benefits and costs of various greenhouse gas (GHG) reductions. The level of recovered energy was determined in relation to energy prices, capital costs, and carbon penalties in order to determine the most efficient means of decreasing energy usage. The study demonstrated that energy efficiency can be improved by up to 20 percent, and water loss reductions of up to 50 percent can be achieved using cost-effective energy efficiency measures. Results of the study can be used to guide government policy and provide industry with practical tools to benchmark performance and improve efficiencies. 4 refs., 1 tab., 10 figs.

  6. CONCEPTUAL APPROACHES TO FORMING MECHANISM OF INVESTMENT SAFETY REALIZATION

    Directory of Open Access Journals (Sweden)

    Vladimir Talover

    2016-11-01

    realizing investment safety are determined on the basis of the suggested concept. Criteria assessment of the national economy investment safety should include assessment of: ratio of the national and foreign investments; assurance of the enlarged recreation; level of economy restructuring and re-equipping; level of accumulated resources; level of financing scientific-technical sphere. Low level of investment safety is explained by the lack of wide range of investment objects and imperfection of investment mechanisms, as well as the lack of developed investment market. Practical implications. The suggested conceptual statements concerning formation of the mechanism of realizing investment safety determine unity in the system of economic interests and participants of the investment sphere, as well as solving collisions that appear between them. The priority directions of the state policy in assuring investment safety should become the following: creating favourable macroeconomic and entrepreneurial environment, promoting development of business, protecting owners and strengthening efficiency and transparency of the use of state finances. Value/originality. The suggested conceptual principles of forming efficient mechanism of investment safety give the reason for forming an appropriate system of indicators and allow determining prospects and threads to the investment safety level in the real time.

  7. 75 FR 26742 - Investing in Innovation Fund

    Science.gov (United States)

    2010-05-12

    ... DEPARTMENT OF EDUCATION Investing in Innovation Fund Catalog of Federal Domestic Assistance (CFDA...: Office of Innovation and Improvement, Department of Education. ACTION: Notice; Extension of the application deadline date for the Investing in Innovation Fund. SUMMARY: The Assistant Deputy Secretary for...

  8. Report: EPA Needs to Improve Recording Information Technology Investments and Issue a Policy Covering All Investments

    Science.gov (United States)

    Report #15-P-0292, September 22, 2015. The EPA management of its $334 million in IT investments is noncompliant with its current policy. Thus, the EPA is at risk of not managing taxpayer dollars properly.

  9. An external domino effects investment approach to improve cross-plant safety within chemical clusters

    International Nuclear Information System (INIS)

    Reniers, Genserik

    2010-01-01

    Every company situated within a chemical cluster faces the risk of being struck by an escalating accident at one of its neighbouring plants (the so-called external domino effect risks). These cross-plant risks can be reduced or eliminated if neighbouring companies are willing to invest in systems and measures to prevent them. However, since reducing such multi-plant risks does not lead to direct economic benefits, enterprises tend to be reluctant to invest more than needed for meeting minimal legal requirements and they tend to invest without collaborating. The suggested approach in this article indicates what information is required to evaluate the available investment options in external domino effects prevention. To this end, game theory is used as a promising scientific technique to investigate the decision-making process on investments in prevention measures simultaneously involving several plants. The game between two neighbouring chemical plants and their strategic investment behaviour regarding the prevention of external domino effects is described and an illustrative example is provided. Recommendations are formulated to advance cross-plant prevention investments in a two-company cluster.

  10. The role of donor organisations in promoting energy efficient cook stoves

    International Nuclear Information System (INIS)

    Kees, Marlis; Feldmann, Lisa

    2011-01-01

    This article focuses on cooking energy and the role of donor organisations in the introduction and dissemination of improved stoves. After presenting some basic facts on cooking energy, the article discusses the cooking energy–poverty nexus and possible reasons for the often neglect of this topic in the context of development cooperation. Clean and efficient technologies for cooking are presented and a short introduction to different dissemination approaches shows the changes that occurred in the last years. The importance of public sector investments to increase the supply and use of clean cooking energy technologies in developing countries is analysed and underlined by GTZ’s experiences in this field. The case study of Uganda finally demonstrates how cooking energy interventions work in the field and points out that investment pays off. - Highlights: ► Cooking energy is a neglected topic in the context of development cooperation. ► Political frameworks do not reflect social and economic relevance of biomass energy. ► Scaling up the dissemination of cookstoves requires public sector investment. ► Investments in efficient and clean stoves pay-off.

  11. EFFICIENT USE OF BIOMASS IN IMPROVED COOKSTOVES

    Directory of Open Access Journals (Sweden)

    R. K. PAL

    2016-12-01

    Full Text Available Traditional biomass cookstoves have very low efficiency. The improved cookstoves have very high efficiency. These improved cookstoves with high efficiency saves biomass fuels. Biomass can be saved in case of rocket elbow cookstoves. The amount of biomass which can be saved in case of rocket elbow cookstoves is 65.88 MT. More biomass can be saved in case of gasifier fan cookstoves. The amount of biomass which can be saved is 155.71 MT. The pollutants like particulate matter, black carbon, carbon mono-oxide and carbon dioxide emission is lesser in case of rocket elbow cookstoves. The pollutants are least in case of gasifier fan cookstoves. The reduction in particulate matter, black carbon, carbon mono-oxide and carbon dioxide emission in gasifier fan cookstoves is 1.77 MT, 0.24 MT, 0.71 MT & 151.64 MT respectively in comparison to traditional cookstoves. Therefore indoor air pollution is greatly reduced in case of improved cookstoves especially in case of gasifier fan cookstoves as compared to traditional cookstoves.

  12. Barriers to improvements in energy efficiency

    Energy Technology Data Exchange (ETDEWEB)

    Reddy, A.K.N.

    1991-10-01

    To promote energy-efficiency improvements, actions may be required at one or more levels -- from the lowest level of the consumer (residential, commercial, industrial, etc.) through the highest level of the global agencies. But barriers to the implementation of energy-efficiency improvements exist or can arise at all these levels. Taking up each one of these barriers in turn, the paper discusses specific measures that can contribute to overcoming the barriers. However, a one-barrier-one-measure approach must be avoided. Single barriers may in fact involve several sub-barriers. Also, combinations of measures are much more effective in overcoming barriers. In particular, combinations of measures that simultaneously overcome several barriers are most successful. The paper discusses the typology of barriers, explores their origin and suggests measures that by themselves or in combination with other measures, will overcome these barriers. Since most of the barriers dealt with can be found in the barriers'' literature, any originality in the paper lies in its systematic organization, synoptic view and holistic treatment of this issue. This paper is intended to initiate a comprehensive treatment of barriers, their origins and the measures that contribute to overcoming them. Hopefully, such a treatment will facilitate the implementation of energy-efficiency improvements involving a wide diversity of ever-changing energy end uses and consumer preferences.

  13. Barriers to improvements in energy efficiency

    Energy Technology Data Exchange (ETDEWEB)

    Reddy, A.K.N.

    1991-10-01

    To promote energy-efficiency improvements, actions may be required at one or more levels -- from the lowest level of the consumer (residential, commercial, industrial, etc.) through the highest level of the global agencies. But barriers to the implementation of energy-efficiency improvements exist or can arise at all these levels. Taking up each one of these barriers in turn, the paper discusses specific measures that can contribute to overcoming the barriers. However, a one-barrier-one-measure approach must be avoided. Single barriers may in fact involve several sub-barriers. Also, combinations of measures are much more effective in overcoming barriers. In particular, combinations of measures that simultaneously overcome several barriers are most successful. The paper discusses the typology of barriers, explores their origin and suggests measures that by themselves or in combination with other measures, will overcome these barriers. Since most of the barriers dealt with can be found in the ``barriers`` literature, any originality in the paper lies in its systematic organization, synoptic view and holistic treatment of this issue. This paper is intended to initiate a comprehensive treatment of barriers, their origins and the measures that contribute to overcoming them. Hopefully, such a treatment will facilitate the implementation of energy-efficiency improvements involving a wide diversity of ever-changing energy end uses and consumer preferences.

  14. Energy Efficiency Improvement and Cost Saving Opportunities for Cement Making. An ENERGY STAR Guide for Energy and Plant Managers

    Energy Technology Data Exchange (ETDEWEB)

    Galitsky, Christina; Worrell, Ernst; Galitsky, Christina

    2008-01-01

    The cost of energy as part of the total production costs in the cement industry is significant, warranting attention for energy efficiency to improve the bottom line. Historically, energy intensity has declined, although more recently energy intensity seems to have stabilized with the gains. Coal and coke are currently the primary fuels for the sector, supplanting the dominance of natural gas in the 1970s. Most recently, there is a slight increase in the use of waste fuels, including tires. Between 1970 and 1999, primary physical energy intensity for cement production dropped 1 percent/year from 7.3 MBtu/short ton to 5.3 MBtu/short ton. Carbon dioxide intensity due to fuel consumption and raw material calcination dropped 16 percent, from 609 lb. C/ton of cement (0.31 tC/tonne) to 510 lb. C/ton cement (0.26 tC/tonne). Despite the historic progress, there is ample room for energy efficiency improvement. The relatively high share of wet-process plants (25 percent of clinker production in 1999 in the U.S.) suggests the existence of a considerable potential, when compared to other industrialized countries. We examined over 40 energy efficient technologies and measures and estimated energy savings, carbon dioxide savings, investment costs, and operation and maintenance costs for each of the measures. The report describes the measures and experiences of cement plants around the wold with these practices and technologies. Substantial potential for energy efficiency improvement exists in the cement industry and in individual plants. A portion of this potential will be achieved as part of (natural) modernization and expansion of existing facilities, as well as construction of new plants in particular regions. Still, a relatively large potential for improved energy management practices exists.

  15. The Economics of Foreign Direct Investment Incentives

    OpenAIRE

    Magnus Blomstrom; Ari Kokko

    2003-01-01

    This Paper suggests that the use of investment incentives focusing exclusively on foreign firms - although motivated in some cases from a theoretical point of view - is generally not an efficient way to raise national welfare. The main reason is that the strongest theoretical motive for financial subsidies to inward FDI – spillovers of foreign technology and skills to local industry – is not an automatic consequence of foreign investment. The potential spillover benefits are realized only if ...

  16. 76 FR 34969 - Investing in Innovation Fund

    Science.gov (United States)

    2011-06-15

    ... DEPARTMENT OF EDUCATION [Docket ID ED-2011-OII-0001] Investing in Innovation Fund AGENCY: Office of Innovation and Improvement, Department of Education. ACTION: Notice announcing the location, dates, and times of pre- application meetings. Overview Information Investing in Innovation Fund Catalog of...

  17. Determining the Return of Energy Efficiency Investments in Domestic and Deployed Military Installations

    National Research Council Canada - National Science Library

    Gammache, Nathan J

    2007-01-01

    ...: the use of Energy Savings Performance Contracts to fund energy efficiency improvements at domestic military installations, and the use of waste to energy generators at remote, deployed military installations...

  18. Energy efficiency and economic value in affordable housing

    International Nuclear Information System (INIS)

    Chegut, Andrea; Eichholtz, Piet; Holtermans, Rogier

    2016-01-01

    Strong rental protection in the affordable housing market often prohibits landlords from charging rental premiums for energy-efficient dwellings. This may impede (re)development of energy efficient affordable housing. In the Netherlands, affordable housing institutions regularly sell dwellings from their housing stock to individual households. If they can sell energy efficient dwellings at a premium, this may stimulate investments in the environmental performance of homes. We analyze the value effects of energy efficiency in the affordable housing market, by using a sample of 17,835 homes sold by Dutch affordable housing institutions in the period between 2008 and 2013. We use Energy Performance Certificates to determine the value of energy efficiency in these transactions. We document that dwellings with high energy efficiency sell for 2.0–6.3% more compared to otherwise similar dwellings with low energy efficiency. This implies a premium of some EUR 3,000 to EUR 9,700 for highly energy efficient affordable housing. - Highlights: • Dutch affordable housing suppliers recoup sustainability investment by selling dwellings. • Energy-efficient affordable dwellings sell at a premium. • A-labeled dwellings are 6.3% – 9,300 euros – more valuable than C-labeled ones. • The combined value effect of refurbishing an affordable housing dwelling, including improving the energy efficiency, of 20% would more than pay for the retrofit.

  19. Generating capital: improving investor confidence in Ontario's electricity industry to induce new generation investment

    International Nuclear Information System (INIS)

    Van Beers, R.

    2004-01-01

    This paper is a critical discussion on improving investor confidence in Ontario's electricity industry to induce new generation investment. The reason that investor confidence is critical in the electric power industry is due to the fact that the industry is capital intensive, the asset life is long, it is impossible to model political/regulatory risk and political action is virtually inevitable. The paper concludes that ultimately private sector investors will bear little risk, the tax payer will be on the hook for almost all risk

  20. Cost-benefit comparisons of investments in improved water supply and cholera vaccination programs.

    Science.gov (United States)

    Jeuland, Marc; Whittington, Dale

    2009-05-18

    This paper presents the first cost-benefit comparison of improved water supply investments and cholera vaccination programs. Specifically, we compare two water supply interventions -- deep wells with public hand pumps and biosand filters (an in-house, point-of-use water treatment technology) -- with two types of cholera immunization programs with new-generation vaccines -- general community-based and targeted and school-based programs. In addition to these four stand-alone investments, we also analyze five combinations of water and vaccine interventions: (1) borehole+hand pump and community-based cholera vaccination, (2) borehole+hand pump and school-based cholera vaccination, (3) biosand filter and community-based cholera vaccination, (4) biosand filter and school-based cholera vaccination, and (5) biosand filter and borehole+hand pump. Using recent data applicable to developing country locations for parameters such as disease incidence, the effectiveness of vaccine and water supply interventions against diarrheal diseases, and the value of a statistical life, we construct cost-benefit models for evaluating these interventions. We then employ probabilistic sensitivity analysis to estimate a frequency distribution of benefit-cost ratios for all four interventions, given a wide variety of possible parameter combinations. Our results demonstrate that there are many plausible conditions in developing countries under which these interventions will be attractive, but that the two improved water supply interventions and the targeted cholera vaccination program are much more likely to yield attractive cost-benefit outcomes than a community-based vaccination program. We show that implementing community-based cholera vaccination programs after borehole+hand pump or biosand filters have already been installed will rarely be justified. This is especially true when the biosand filters are already in place, because these achieve substantial cholera risk reductions on their own

  1. Measures for energy efficiency improvement of buildings

    Directory of Open Access Journals (Sweden)

    Vukadinović Ana V.

    2015-01-01

    Full Text Available The increase in energy consumption in buildings causes the need to propose energy efficiency improvement measures. Urban planning in accordance with micro location conditions can lead to energy consumption reduction in buildings through the passive solar design. While satisfying the thermal comfort to the user space purpose, energy efficiency can be achieved by optimizing the architectural and construction parameters such as shape of the building, envelope structure and the percentage of glazing. The improvement of the proposed measures, including the use of renewable energy sources, can meet requirements of Directive 2010/31 / EU of 'nearly zero energy buildings'.

  2. THE INFLUENCE OF THE NET PROFIT OVER THE INVESTMENT DECISION MAKING

    Directory of Open Access Journals (Sweden)

    Mihaela GADOIU

    2017-12-01

    Full Text Available This article aims at analysing how the investment decision is influenced by the final result of the activity of an entity after paying the profit tax. Starting from the need to make investments in order to ensure the economic efficiency and subsequently the economic growth, we sought to capture both the advantages and the disadvantages of the various versions that must be considered for the selection of the investment project. From the perspective of the presentation of this topic, we have analysed, in addition to the aspects related to the notion of investment, the investment typology, the decision to invest in a certain environment, and a number of economic and financial indicators used in order to make an investment decision.

  3. INCREASE OF EFFICIENCY OF FUNCTIONING OF THE ENTERPRISE ON THE BASIS OF INVESTMENT IN THE OPTIMIZATION OF BUSINESS PROCESSES FOR MANAGING WAREHOUSE RESERVES

    Directory of Open Access Journals (Sweden)

    Aliya Nurfaizovna Gabdulakhatova

    2017-06-01

    Full Text Available The relevance of this topic is due to the fact that inventory management is one of the important parts of the enterprise management policy in the servicing industry. The article summarizes the importance of stock optimization at the enterprise, presents the stages of inventory management, provides a horizontal analysis of the main results of the enterprise’s activities, and, based on the tree of problems method and the decision tree, identifies the problems and ways to optimize the business processes for inventory management. One of the ways to improve the financial condition of an enterprise, by improving business processes in inventory management, which will require certain investments, suggests the use of logistics center services. The purpose of this work is to identify ways to optimize the activities of the enterprise in inventory management. Methodology: There were used methods of analysis of financial and economic activity, also economic and mathematical methods. Results: the most informative parameters showing the efficiency of optimization of the enterprise’s activities. Practical implications it is expedient to apply the received results the economic subjects which produce products with subsequent sale.

  4. Analysis of foreign direct investment in the Czech Republic

    Directory of Open Access Journals (Sweden)

    Marcela Domesová

    2011-01-01

    Full Text Available The foreign direct investments are joined with the process of world globalisation. Foreign direct investments are carried out especially by multinational companies. The basic forms of the foreign direct investments are “greenfield” investments and “brownfield“ investments in the form of the privatization. The Czech Republic has shown mass inflow of foreign direct investments since 1998. The aim of the paper is to evaluate the inflow of foreign direct investments in the context of the balance of payments and the evaluation their impact on the outside economic equilibrium and gross value added in the Czech Republic. The subject of the analysis is the identification of the most important factors of foreign direct investments inflow and the classification of foreign direct investments inflow from the point of view of branches and technological intensity of production as well. The aim is fulfilled by analysis of selected indicators of the balance of payments, analysis of gross value added and international comparison of foreign direct investments inflow in countries of Visegrad Group. The results show the part of privatization in foreign capital inflow, increasing import intensity and export efficiency linked with foreign direct investments. The results are subject of research focused on the process of world globalisation and regional development.

  5. An external domino effects investment approach to improve cross-plant safety within chemical clusters.

    Science.gov (United States)

    Reniers, Genserik

    2010-05-15

    Every company situated within a chemical cluster faces the risk of being struck by an escalating accident at one of its neighbouring plants (the so-called external domino effect risks). These cross-plant risks can be reduced or eliminated if neighbouring companies are willing to invest in systems and measures to prevent them. However, since reducing such multi-plant risks does not lead to direct economic benefits, enterprises tend to be reluctant to invest more than needed for meeting minimal legal requirements and they tend to invest without collaborating. The suggested approach in this article indicates what information is required to evaluate the available investment options in external domino effects prevention. To this end, game theory is used as a promising scientific technique to investigate the decision-making process on investments in prevention measures simultaneously involving several plants. The game between two neighbouring chemical plants and their strategic investment behaviour regarding the prevention of external domino effects is described and an illustrative example is provided. Recommendations are formulated to advance cross-plant prevention investments in a two-company cluster. Copyright (c) 2009 Elsevier B.V. All rights reserved.

  6. Potential Global Benefits of Improved Ceiling Fan Energy Efficiency

    Energy Technology Data Exchange (ETDEWEB)

    Sathaye, Nakul [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Phadke, Amol [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Shah, Nihar [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Letschert, Virginie [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2012-10-31

    Ceiling fans contribute significantly to residential electricity consumption, both in an absolute sense and as a proportion of household consumption in many locations, especially in developing countries in warm climates. However, there has been little detailed assessment of the costs and benefits of efficiency improvement options for ceiling fans and the potential resulting electricity consumption and greenhouse gas (GHG) emissions reductions. We analyze the costs and benefits of several options to improve the efficiency of ceiling fans and assess the global potential for electricity savings and GHG emission reductions with more detailed assessments for India, China, and the U.S. We find that ceiling fan efficiency can be cost-effectively improved by at least 50% using commercially available technology. If these efficiency improvements are implemented in all ceiling fans sold by 2020, 70 terrawatt hours per year (TWh/year) could be saved and 25 million metric tons of carbon dioxide (CO2) emissions per year could be avoided, globally. We assess how policies and programs such as standards, labels, and financial incentives can be used to accelerate the adoption of efficient ceiling fans in order to realize this savings potential.

  7. A Guide to Energy Efficient Refurbishment. Maintenance and Renewal in Educational Buildings. Building Bulletin 73.

    Science.gov (United States)

    Department for Education and Employment, London (England). Architects and Building Branch.

    With little or relatively modest investment, schools being refurbished or undergoing maintenance can make disproportionately large gains in energy efficiency that can also result in large financial savings. This document offers guidance on the selection of appropriate measures that can improve a facility's energy efficiency, depending on the type…

  8. 75 FR 21614 - Investing in Innovation Fund

    Science.gov (United States)

    2010-04-26

    ... DEPARTMENT OF EDUCATION Investing in Innovation Fund Catalog of Federal Domestic Assistance (CFDA...: Office of Innovation and Improvement, Department of Education. ACTION: Notice inviting applications for... FY 2010 (NIA) for the Investing in Innovation Fund. This notice makes a correction to the March 12...

  9. Consumer’s Attitude Towards Investments in Residential Energy-Efficient Appliances: How End-User Choices Contribute to Change Future Energy Systems

    DEFF Research Database (Denmark)

    Baldini, Mattia; Trivella, Alessio; Wente, Jordan William Halverson

    2017-01-01

    conventional and environmentally friendly alternatives when purchasing new household electric appliances. This study employs empirical data from a survey conducted by the Danish Energy Agency to model the decision criteria behind Danish consumer investment in energy-efficient labeled appliances. The analysis...... uses logistic regression over a set of socioeconomic, demographic, and behavioral variables to predict purchase propensities. The findings are relevant for policy makers interested in targeting consumers in the appliance market, particularly for a relatively wealthy national context. The study...

  10. Quality and Efficiency Improvement Tools for Every Radiologist.

    Science.gov (United States)

    Kudla, Alexei U; Brook, Olga R

    2018-03-20

    In an era of value-based medicine, data-driven quality improvement is more important than ever to ensure safe and efficient imaging services. Familiarity with high-value tools enables all radiologists to successfully engage in quality and efficiency improvement. In this article, we review the model for improvement, strategies for measurement, and common practical tools with real-life examples that include Run chart, Control chart (Shewhart chart), Fishbone (Cause-and-Effect or Ishikawa) diagram, Pareto chart, 5 Whys, and Root Cause Analysis. Copyright © 2018 The Association of University Radiologists. Published by Elsevier Inc. All rights reserved.

  11. IMPLICATIONS OF FOREIGN DIRECT INVESTMENTS ON SMALL ANS MEDIUM ENTERPRISES IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Nicoleta, MIHAILĂ

    2014-11-01

    Full Text Available Foreign investments contribute massively to the increase of business profitability. Attraction and efficient allocation of capital inflows (mainly in the form of high quality investment made at microeconomic level represent the main “engine” for GDP growth in medium and long term. This will facilitate private sector access to finance investments, encourage technology transfer and innovation, promote technological parks and business incubators, stimulate innovation and entrepreneurship, support female entrepreneurship, increase efficiency and labor productivity for private companies , as well as management practices based on the principle of investing in people. Analysing the business environment involves, among other things, identifying and removing barriers that produce strain effects of overcoming difficulties for firms, respectively: - the desire that the investment in human capital would have immediate effects; - Insufficient correlation of wage increases and granting bonuses with increasing productivity; - Dialogue and partnerships with universities that could bring competitive advantage stands sometimes in incipient phases;

  12. Application of GIS in exploring spatial dimensions of Efficiency in Competitiveness of Regions

    Science.gov (United States)

    Rahmat, Shahid; Sen, Joy

    2017-04-01

    Infrastructure is an important component in building competitiveness of a region. Present global scenario of economic slowdown that is led by slump in demand of goods and services and decreasing capacity of government institutions in investing public infrastructure. Strategy of augmenting competitiveness of a region can be built around improving efficient distribution of public infrastructure in the region. This efficiency in the distribution of infrastructure will reduce the burden of government institution and improve the relative output of the region in relative lesser investment. A rigorous literature study followed by an expert opinion survey (RIDIT scores) reveals that Railway, Road, ICTs and Electricity infrastructure is very crucial for better competitiveness of a region. Discussion with Experts in ICTs, Railways and Electricity sectors were conducted to find the issues, hurdles and possible solution for the development of these sectors. In an underdeveloped country like India, there is a large constrain of financial resources, for investment in infrastructure sector. Judicious planning for allocation of resources for infrastructure provisions becomes very important for efficient and sustainable development. Data Envelopment Analysis (DEA) is the mathematical programming optimization tool that measure technical efficiency of the multiple-input and/or multiple-output case by constructing a relative technical efficiency score. This paper tries to utilize DEA to identify the efficiency at which present level of selected components of Infrastructure (Railway, Road, ICTs and Electricity) is utilized in order to build competitiveness of the region. This paper tries to identify a spatial pattern of efficiency of Infrastructure with the help of spatial auto-correlation and Hot-spot analysis in Arc GIS. This analysis leads to policy implications for efficient allocation of financial resources for the provision of infrastructure in the region and building a

  13. The Economics of an Investment in Kaizen

    Science.gov (United States)

    Visuwan, Danupun

    2010-10-01

    Kaizen has been widely accepted as a continuous process improvement with the gradualist approach. This paper presents the research carried out to explore the pattern of an investment in Kaizen to enhance overall profit. System dynamics-based simulation has been employed with an optimization technique, a Steepest Ascent approach, to improve experimental variables e.g. the amount of spending on prevention and appraisal activities, the time and the amount to reduce the investment which results in maximum Net Present Value (NPV) of profit. The simulation model in this study is based on a Thai automobile manufacturer as a case study company. The result suggests that the investment in Kaizen should spend on activities to eliminate and detect all defects in the early phase and then reduce economically when the process is under controlled. It can be named as the `Hybrid quality improvement', which was proved in this study that it provides greater overall profit than the Stepwise Kaizen and the constant spending. This study also presents the behavior of quality costs and profit against time scale along the different patterns of the investment in Kaizen.

  14. Foreign aid or foreign investments: call for a paradigm shift in mentality and nomenclature.

    Science.gov (United States)

    Oleribe, Obinna Ositadimma; Nwanwanyu, Okey

    2015-01-01

    Funding for health care programs has over the years been an important challenge for health and health care services. However with the advent of financing, part of this problem was resolved. Through these investments, lives were saved, many destinies recovered and some obsolete systems reengineered. Major proofs of these expenditures are number of people reached and sometimes number of sites opened/supported, which in several cases, are not entirely verifiable. Sustainable development from these funds is limited, and far and in between. This is despite the fact that supports for health care and health care services have been ongoing for more than 60 years. As long as these funds are seen as aids to developing countries, they will continue to fail to achieve their primary objectives. But looking at these as investments in supported countries will significantly improve the outcome, health system impacts, as well as engineer sustainable health system strengthening and improvement. Such a re-branding will reduce the politics of support, improve effectiveness and efficiency in the use of the resources, and empower receiving nations towards better health systems.

  15. Economic analysis of Brazilian policies for energy efficient electric motors

    International Nuclear Information System (INIS)

    Andrade, Cássio Tersandro de Castro; Pontes, Ricardo Silva Thé

    2017-01-01

    Brazil is leading several energy efficiency initiatives and has ambitious goals for 2030, according to the Brazilian National Energy Plan 2030. One of the main initiatives is the minimum efficiency performance standards (MEPS) program for energy-driven equipment and the electric motors appear as the most significant one (49% share of the total electricity consumption). The MEPS levels set new grades for efficiency, and then manufacturers and consumers have to conform to the new products and costs. Policy makers have to economically assess the effects of these MEPS in order to maintain the market stability. Since the benefits of this program come from future energy savings, this cost-effective analysis has to consider the parameters uncertainty and the results should reinforce the market players’ confidence. Thus, the goal of this work is, first, to analyze the economic viability of the MEPS transitions in Brazil considering the uncertainty of the parameters involved and then, to estimate the effects of this program on the energy savings goals for 2030. At the end, we also verify whether this investment in energy efficiency is competitive with other forms of investments in energy. - Highlights: • A cost-effectiveness method with uncertainty for efficiency program is presented. • Savings from electric motors MEPS program makes the 2030 Brazilian goals possible. • Electric motors MEPS program cost-effectiveness in Brazil is confirmed. • Saved energy cost from efficiency improvement is a competitive energy investment.

  16. INVESTMENT ASPECT IN MATERIAL INCENTIVE OF HUMAN RESOURCES

    Directory of Open Access Journals (Sweden)

    Potasheva Galina Anatol’evna

    2017-03-01

    Full Text Available Value of intellectual resources in modern economy due to which the assets of human resources became one of the factors of formation of value of systems on the basis of their investing, is considered. Adequate evaluation of employees’ activities as one of the basic resources will make it possible to meet competition under conditions of "survival" through periodic formation of socio-economic profile and stimulation of investment in human resources on the basis of the following technologies: formation of a balanced scorecard system, creation of a mechanism of formation and distribution of labour compensation funds, use of the golden section principle. Establishment of wages according to the golden section principle contributes to the stability and commitment of employees and increase of efficiency of investments in human resources, provided that it doubles the sales volume and should accordingly increase the wages of each employee by a factor of 1.62. Statistical analysis demonstrated that organizations that work using the golden section principle increased the labour productivity on average by 10-20 %, augmented the turnover by a factor of 1.3–1.5, minimized the costs by 15-20 %. Application of the golden section technology creates conditions necessary for economic growth on the basis of efficiency of investments in human resources.

  17. Comparison of different reliability improving investment strategies of Finnish medium-voltage distribution systems

    Energy Technology Data Exchange (ETDEWEB)

    Laagland, H.

    2012-07-01

    The electricity distribution sector in Finland is highly regulated and the return on investments in distribution networks is low. Low profits don't make the electricity distribution sector attractive to outside investors. During the second regulatory period of 2008-2011 incentives are included into the Finnish regulation model which allows higher profits for the network owners for right allocated network investments leading to lower operation and interruption costs. The goal of the thesis is to find cost-effective medium-voltage distribution system investment strategies for the Finnish power distribution companies with respect to the incentives of the second regulatory period. In this work the sectionalisation concept is further developed by deriving equations for a homogeneous electricity distribution system for the economical and reliability indices as a function of the number of sectionalisation zones. The cost-effective medium-voltage distribution system investment strategies are found by studying the technical and economic interaction of feeder automation on different network structures. Ten feeder automation schemes have been applied to six urban/rural area generic feeders and two real rural area feeders of a distribution company in western Finland. The analytical approach includes modelling of the feeders and feeder functions and calculation of the economical and reliability indices. The following investment areas are included: different electricity distribution systems, new substation, new switching station, central earth-fault current compensation, cabling and feeder automation. The value of the results of this work is that they reveal the influence that feeder automation has on the reliability and economy of different distribution structures. This created transparency enables a national and/or distribution company network investment strategy to optimise the economic benefits of investments. (orig.)

  18. A Study on an efficient management system, proper investment, and cost sharing for improving the quality of water in water system

    Energy Technology Data Exchange (ETDEWEB)

    Moon, Hyun Joo [Korea Environment Institute, Seoul (Korea)

    1998-12-01

    With the overall prospects on water quality management in water system, the problems on policy and implementation, investment and cost sharing were analyzed. Considering water system, a scheme for the rationalization of management policy and financial supply was presented. Also, based on the analysis on problem of present management structure, the rationalizing plan of management structure and organization was provided. 30 refs., 2 figs., 31 tabs.

  19. Tariff-based incentives for improving coal-power-plant efficiencies in India

    International Nuclear Information System (INIS)

    Chikkatur, Ananth P.; Sagar, Ambuj D.; Abhyankar, Nikit; Sreekumar, N.

    2007-01-01

    Improving the efficiency of coal-based power plants plays an important role in improving the performance of India's power sector. It allows for increased consumer benefits through cost reduction, while enhancing energy security and helping reduce local and global pollution through more efficient coal use. A focus on supply-side efficiency also complements other ongoing efforts on end-use efficiency. The recent restructuring of the Indian electricity sector offers an important route to improving power plant efficiency, through regulatory mechanisms that allow for an independent tariff setting process for bulk purchases of electricity from generators. Current tariffs based on normative benchmarks for performance norms are hobbled by information asymmetry (where regulators do not have access to detailed performance data). Hence, we propose a new incentive scheme that gets around the asymmetry problem by setting performance benchmarks based on actual efficiency data, rather than on a normative basis. The scheme provides direct tariff-based incentives for efficiency improvements, while benefiting consumers by reducing electricity costs in the long run. This proposal might also be useful for regulators in other countries to incorporate similar incentives for efficiency improvement in power generation

  20. INVESTMENT CLIMATE OF KAZAKHSTAN: CURRENT STATUS AND PROSPECTS

    Directory of Open Access Journals (Sweden)

    Madina Abugalievna TEMIRBULATOVA

    2015-07-01

    Full Text Available Agriculture still remains a little attractive to most of investors. Modern investment into agrarian sector of Kazakhstan and growth of its investment appeal restrains an acute shortage of financial resources, poorly developed material base, low solvent demand of the population therefore growth of investments is one of major factors of ensuring economic development of agriculture in general, improvement of quality of life of the population of the village, updating of regional technical and technological base, fixed assets in agriculture. In this regard special relevance researches on improvement of mechanisms of attraction of investments into agrarian sector of economy and methods of increase of investment appeal of agriculture for the purpose of ensuring its sustainable economic development. If to consider already created interstate unions, in this plan it is expedient to consider relationship between Romania and Kazakhstan. Kazakhstan and Romania will develop in common electronic decisions in education, medicine and agriculture. In Kazakhstan communications with inclusion of the earth in market the turn appears need for new financial instruments as mortgage valuable issue papers (bonds. The proposed Мodel of land - mortgage lending will be the main way to increase the investment attractiveness Republic of Kazakhstan.

  1. Assessing motivation for work environment improvements: internal consistency, reliability and factorial structure.

    Science.gov (United States)

    Hedlund, Ann; Ateg, Mattias; Andersson, Ing-Marie; Rosén, Gunnar

    2010-04-01

    Workers' motivation to actively take part in improvements to the work environment is assumed to be important for the efficiency of investments for that purpose. That gives rise to the need for a tool to measure this motivation. A questionnaire to measure motivation for improvements to the work environment has been designed. Internal consistency and test-retest reliability of the domains of the questionnaire have been measured, and the factorial structure has been explored, from the answers of 113 employees. The internal consistency is high (0.94), as well as the correlation for the total score (0.84). Three factors are identified accounting for 61.6% of the total variance. The questionnaire can be a useful tool in improving intervention methods. The expectation is that the tool can be useful, particularly with the aim of improving efficiency of companies' investments for work environment improvements. Copyright 2010 Elsevier Ltd. All rights reserved.

  2. Sustainable Markets Investment Briefings: Investment Treaties

    Energy Technology Data Exchange (ETDEWEB)

    Cotula, Lorenzo

    2007-08-15

    This is the second of a series of briefings which discuss the sustainable development issues raised by legal arrangements for the protection of foreign investment. The briefings are based on legal research by IIED and its partners. The goal is to provide accessible but accurate information for human rights, development and environmental organisations working on issues raised by foreign investment in low- and middle-income countries. Briefing 2 explains how investment treaties between states work to protect and promote foreign investment.

  3. The Multiple Benefits of Measures to Improve Energy Efficiency

    DEFF Research Database (Denmark)

    Puig, Daniel; Farrell, Timothy Clifford

    Understanding the barriers to, and enablers for, energy efficiency requires targeted information and analysis. This report is a summary of four detailed studies providing new insights on how to promote efficiency in selected priority areas. It complements initiatives such as the so-called energy...... efficiency accelerators, which seek to increase the uptake of selected technologies, as well as the work of many other institutions committed to improving energy efficiency. The modelling estimates and the case studies presented in this report illustrate that, while significant progress has already been...... achieved, the case for accelerating energy efficiency action is strong. Key highlights include: • At the global level, energy efficiency improvements would account for between 2.6 and 3.3 Gt CO2e of the reductions in 2030, equivalent to between 23 and 26 percent of the overall reductions achieved...

  4. The Volatile Effect of Conflict Risk on Foreign Investment

    Directory of Open Access Journals (Sweden)

    Umit Hacioglu

    2013-04-01

    Full Text Available The opportunities of investment brought along by the global economic integrity might turn into a threat in an instant and undermine the underlying structures of national economies. It is necessary to analyze the conflict risk properly in terms of both portfolio investment and finance strategies. This is an important step to be included in the process of arriving to a rational decision. In that way, the existing investment risks could be priced more efficiently. It is proved on Collier and Starr models that there is a correlation between the conflict risk and unemployment, economic recession, inflation and fiscal discipline. In brief, the breakdown in the economic parameters increases the conflict risk and a progress occurring in the opposite way, decreases that risk. In this study, it is discussed the effects of the conflict risk for foreign investment availabilities. Keywords: Foreign direct investment; volatile effect; conflict risk; investment climate

  5. Social rate of return to R&D on various energy technologies: Where should we invest more? A study of G7 countries

    International Nuclear Information System (INIS)

    Inglesi-Lotz, Roula

    2017-01-01

    The importance of investment in Research and Development (R&D) in the energy sector is indisputable especially considering the benefits of new technologies to sustainability, security and environmental protection. However, the nature and potential of various energy technologies that are capable of improving the energy and environmental conditions globally is a challenging task for governments and policy makers that have to make decisions on the allocation of funds in R&D. To do so, the optimal resource allocation to R&D should be determined by estimating the social rate of return for R&D investments. This paper aims to estimate the social rate of return of R&D on various energy applications and technologies such as energy efficiency, fossil fuels, renewable energy sources, and nuclear for the G7 countries. The results show that primarily R&D investment on Energy Efficiency technologies and Nuclear are the ones that yield high social benefits for all G7 countries while exactly the opposite holds for Fossil fuels. - Highlights: • Allocation of R&D funding in various energy technologies is a challenging task. • This can be done by estimating the social rate of return for R&D investments • We investigate various technologies’ social rate of return for the G7 countries. • R&D funding yields social benefits from energy efficiency and nuclear technologies. • R&D investment on fossil fuels has negative social rate of return.

  6. When should irrigators invest in more water-efficient technologies as an adaptation to climate change?

    Science.gov (United States)

    Malek, K.; Adam, J. C.; Stockle, C.; Brady, M.; Yoder, J.

    2015-12-01

    The western US is expected to experience more frequent droughts with higher magnitudes and persistence due to the climate change, with potentially large impacts on agricultural productivity and the economy. Irrigated farmers have many options for minimizing drought impacts including changing crops, engaging in water markets, and switching irrigation technologies. Switching to more efficient irrigation technologies, which increase water availability in the crop root zone through reduction of irrigation losses, receives significant attention because of the promise of maintaining current production with less. However, more efficient irrigation systems are almost always more capital-intensive adaptation strategy particularly compared to changing crops or trading water. A farmer's decision to switch will depend on how much money they project to save from reducing drought damages. The objective of this study is to explore when (and under what climate change scenarios) it makes sense economically for farmers to invest in a new irrigation system. This study was performed over the Yakima River Basin (YRB) in Washington State, although the tools and information gained from this study are transferable to other watersheds in the western US. We used VIC-CropSyst, a large-scale grid-based modeling framework that simulates hydrological processes while mechanistically capturing crop water use, growth and development. The water flows simulated by VIC-CropSyst were used to run the RiverWare river system and water management model (YAK-RW), which simulates river processes and calculates regional water availability for agricultural use each day (i.e., the prorationing ratio). An automated computational platform has been developed and programed to perform the economic analysis for each grid cell, crop types and future climate projections separately, which allows us to explore whether or not implementing a new irrigation system is economically viable. Results of this study indicate that

  7. THE CHOICE OF INVESTMENT LOCATION – THE DETERMININING FACTOR OF ITS YIELD

    Directory of Open Access Journals (Sweden)

    GUŢĂ ANCA JARMILA

    2016-08-01

    Full Text Available The main objective of a financial manager is to use the funds of the company within its managerial authority, so that at long-term the firm obtains the investments yield at least as high as that which could be achieved through alternative investments, with similar risks. The second important objective is to maximize the present value of investment resources to achieve the higher yield as possible, without existing the undue risk. For maximization of the earning capacity of the firm, the resources are allocated in such a way that the earning are allocated in such a way that the earning capacity is transformed into a high efficiency as possible for the company. For achieving these objectives the measurement methods are needed to evaluate the company performance. A basic measurement method is the return on investment (ROI, which describes the relationship between profit and investment. The planning of a business regardless of the investment area must take into account the location of the investment project because of its importance to the future success of the company. In this context, the paper analyzes the main aspects concerning the natural environment and related geophysical conditions, the environmental impact of the project, socio-economic and governmental policies as well as the industrial infrastructure conditions, key issues in determining the efficiency of investment for a company with industrial production activity

  8. Investment innovation trends: Factor-based investing

    Directory of Open Access Journals (Sweden)

    Sanja Centineo

    2017-05-01

    Full Text Available This article shows that it can take a long period of time until research knowledge finds its application in practice and get disseminated as innovation trend. Factor-based investing is such an example. Having its developing roots in the nineties, it took more than two decades until this approach was detected by the by investment community. The goal of this article is to recall the definition of factor investing, present its historical evolvement and motivate its recent break-through and current trend among investment practitioners (known also under the notion smart beta. It aims at familiarizing with this investment approach from a practical perspective and highlighting its diversifying benefits in a portfolio context with the potential to outperform the market on risk-adjusted basis.

  9. The improving efficiency frontier of religious not-for-profit hospitals.

    Science.gov (United States)

    Harrison, Jeffrey P; Sexton, Christopher

    2006-01-01

    By using data-envelopment analysis (DEA), this study evaluates the efficiency of religious not-for-profit hospitals. Hospital executives, healthcare policy makers, taxpayers, and other stakeholders benefit from studies that improve hospital efficiency. Results indicate that overall efficiency in religious hospitals improved from 72% in 1998 to 74% in 2001. What is more important is that the number of religious hospitals operating on the efficiency frontier increased from 40 in 1998 to 47 in 2001. This clearly documents that religious hospitals are becoming more efficient in the management of resources. From a policy perspective, this study highlights the economic importance of encouraging increased efficiency throughout the healthcare industry.

  10. Combination of real options and game-theoretic approach in investment analysis

    Science.gov (United States)

    Arasteh, Abdollah

    2016-09-01

    Investments in technology create a large amount of capital investments by major companies. Assessing such investment projects is identified as critical to the efficient assignment of resources. Viewing investment projects as real options, this paper expands a method for assessing technology investment decisions in the linkage existence of uncertainty and competition. It combines the game-theoretic models of strategic market interactions with a real options approach. Several key characteristics underlie the model. First, our study shows how investment strategies rely on competitive interactions. Under the force of competition, firms hurry to exercise their options early. The resulting "hurry equilibrium" destroys the option value of waiting and involves violent investment behavior. Second, we get best investment policies and critical investment entrances. This suggests that integrating will be unavoidable in some information product markets. The model creates some new intuitions into the forces that shape market behavior as noticed in the information technology industry. It can be used to specify best investment policies for technology innovations and adoptions, multistage R&D, and investment projects in information technology.

  11. Application of third order stochastic dominance algorithm in investments ranking

    Directory of Open Access Journals (Sweden)

    Lončar Sanja

    2012-01-01

    Full Text Available The paper presents the use of third order stochastic dominance in ranking Investment alternatives, using TSD algorithms (Levy, 2006for testing third order stochastic dominance. The main goal of using TSD rule is minimization of efficient investment set for investor with risk aversion, who prefers more money and likes positive skew ness.

  12. Management of purchase process in realization of building investment

    Directory of Open Access Journals (Sweden)

    M. Radoń

    2010-07-01

    Full Text Available In building companies process of product and service purchase is one of the main processes of quality management system [1]. Because ofshort time-limits of contract realization, high specialization of works, necessity of fulfillment of high quality requirements and assurance of profitable financial effects the management of purchase process becomes very important element of work of the building company. The serious problem in creating and keeping the efficient system of purchase management is special type of purchase in building companies. Particular investments are realized in different country regions, objects are built based on the individual design documentations and each building becomes independent organization unit that organize purchase necessary for investment realization.An example of the management system of purchase process in building company is described in the paper. Just In Time system is widelyused during the realization of building investment. This system is especially useful in buildings because some investments, especially inbig cities, are characterized by restriction in building site. This makes impossible storing the products. In such cases close synchronization between times of delivery and requirements of purchase schedule and schedule of building realization is very important. Criteria of supplier selection as well as the methods of choosing the supplier are also presented in the paper. Special attention is paid to necessity of valuation of the purchase efficiency and the purchase risk. Basic coefficients of purchase efficiency are also described in the paper.

  13. Physical and chemical pretreatment of lignocellulosics in pineapple (Ananus comosus) peels dried for investment

    Science.gov (United States)

    Sukkaew, Adulsman; Boonsong, Panthip; Thongpradistha, Sriubol; Intan, Maimoon

    2017-08-01

    Pineapple (Ananus comosus) Peels, once known as waste from agricultural, can be a problem when we eliminate in agriculture and industry. The current technology can help preliminarily to solve this problem. The sustainable solution to this problem is lignocellulosics pretreatments for converted saccharide as a carbon source for ethanol production. The objective of this study is the investigation of pineapple peels pretreatment to produce fermentable sugar by drying and digesting 5% sulfuric acid (H2SO4). And study of cost economic passed selection for investment. The result found that the best investment of drying was 100 °C at 11 hours for the sulphuric acid which could be easily crushed into a fine powder. Moreover, digestion of pineapple peels gave the best total sugar 252.2 g/l by 5% H2SO4 incubated for 60 minutes at room temperature. The pineapple peels were digested by 5%H2SO4 concentration by incubating for 60 minutes at room temperature, finding to be the best condition and the lowest investment. Finally, the optimisation of investment and management for lignocellulosic pretreatment will improve efficiency of strategy for economic and energy development.

  14. Industrial energy efficiency: A policy perspective

    International Nuclear Information System (INIS)

    Chandler, W.U.

    1990-01-01

    Policies that promote energy efficiency can work; but potential energy savings are unlikely to be realized without effective policy leadership. This article discusses the opportunities in several countries for increasing energy efficiency. Both ''open'' and centrally planned economies could be much more energy efficient. In the United States, for example, the government needs to stimulate energy efficiency. This could be done by sponsoring research to develop new processes, creating favourable financial conditions for investment in efficiency, and making the advantages of energy efficiency technologies better known. International collaboration in sponsoring research and transfer technologies could be of the greatest importance in improving energy efficiency in countries with centrally planned economies, including the Soviet Union, as well as in developing countries. Favourable conditions for achieving both economic development and environmental protection can be created through cooperation on the international level. (author). 24 refs, 4 tabs

  15. Biomass Power Generation Investment in China: A Real Options Evaluation

    Directory of Open Access Journals (Sweden)

    Mingming Zhang

    2016-06-01

    Full Text Available This paper proposes a real options model for evaluating the biomass power generation investment in China. The uncertainties in the market price of electricity, CO2 price and straw price are considered. Meanwhile the dynamic relationship between installed capacity and fuel cost, as well as the long-term reduction of subsidy are described. Two scenarios, i.e., with the carbon emission trading scheme existent and non-existent, respectively, is built to empirically analyze the investment of a 25-MW straw-based power generation project. The results show that investors should undertake the investment in 2030 under two scenarios. Investment values are 14,869,254.8 and 37,608,727 Chinese Yuan (RMB, respectively. The implementation of the carbon emission trading scheme theoretically helps improve investment value and advance the most likely optimal investment time. However, the current CO2 price is not sufficient to advance the most likely optimal investment time. The impacts of several factors, including subsidy policy, CO2 price, straw price, installed capacity, correlation structure and the validity period of investment, on the optimal investment strategy are also examined. It is suggested that governments take some measures, including increasing subsidy, setting the growth pattern of subsidy and establishing and perfecting a nationwide carbon trading market, to improve the investment environment and attract more investments.

  16. INCREASE THE INVESTMENT ATTRACTIVENESS OF THE REGION: THE EXPERIENCE OF THE VORONEZH REGION

    Directory of Open Access Journals (Sweden)

    I. M. Podmolodina

    2014-01-01

    Full Text Available Summary. The paper clarifies the relationship of concepts investment climate, investment attractiveness, investment activity. It has been established that investment activity is a sign of effective investment attractiveness. Investment attractiveness of the subject of the Russian Federation due to the efforts of the regional authorities in the areas of improving the investment climate in the region; improvement of legal norms for domestic and foreign investors; developing incentives for investment activity. The article substantiates the investment policy measures that should contribute to the objectives of the investment strategy through implementation of investment programs. The priorities of the investment policy in the region include the creation of clusters, the development of branches of agriculture, increase the volume of production of import-substituting products. The attractiveness of the Voronezh region due to its favorable geopolitical location, large capacity market, its personnel and scientific potential. Investment activity in the Voronezh region largely determines the special organization "Agency for Investment and Strategic Projects." Investment activity in the region is stimulated by the development of industrial parks in the territory of which the large investment projects world producers. Voronezh region has rich experience in attracting potential investors and working with them. The article discusses a set of preferences granted inve-Sided, clarity and transparency of the existing mechanism of their production, thereby increasing the investment attractiveness of the Voronezh region. Provides an overview of realized and announced for implementation of investment projects. The article notes that further increase the investment attractiveness of the Voronezh region is associated with the improvement of legal and regulatory framework; development of infrastructure for the implementation of investment projects; Formation of

  17. Programme of Investments for the Future: continuing and amplifying the action in favour of energy transition. Assessment 2014

    International Nuclear Information System (INIS)

    2015-06-01

    As the ADEME is to implement four Programmes of Investments for the Future (PIA) to support pre-industrial experimentations, research demonstrators or industry firsts in the fields of renewable energies and green chemistry, of tomorrow's vehicles and mobility, of smart power grids, and of circular economy, this report proposes indications of numbers of retained projects and of financial support in different specific fields, and brief presentations of objectives and realisations or projects in energy storage and the hydrogen sector (creation of a world leader in hydrogen production by hydrolysis, project of injection of hydrogen in gas networks), in renewable energies (projects of renewable marine energy), in smart grids (a smart grid tested at the scale of an area of activity), in mobility and transport (the necessity to install at a higher rate charging points for electric vehicles, cleaner ferries, improved performance in railway, an innovative electric bus in Nice), in energy and environmental efficiency (less consuming buildings, improvement of ecologic efficiency in agriculture and industry), and in circular economy and recycling (titanium recycling in aeronautics, fabrication of new tyres with old ones). The themes of the second wave of investments are finally presented, with notably a better efficiency in project instruction modalities (shorter delays, project support, ecologically and economically conditioned financing)

  18. Informational support of the investment process in a large city economy

    Directory of Open Access Journals (Sweden)

    Tamara Zurabovna Chargazia

    2016-12-01

    Full Text Available Large cities possess a sufficient potential to participate in the investment processes both at the national and international levels. A potential investor’s awareness of the possibilities and prospects of a city development is of a great importance for him or her to make a decision. So, providing a potential investor with relevant, laconic and reliable information, the local authorities increase the intensity of the investment process in the city economy and vice-versa. As a hypothesis, there is a proposition that a large city administration can sufficiently activate the investment processes in the economy of a corresponding territorial entity using the tools of the information providing. The purpose of this article is to develop measures for the improvement of the investment portal of a large city as an important instrument of the information providing, which will make it possible to brisk up the investment processes at the level under analysis. The reasons of the unsatisfactory information providing on the investment process in a large city economy are deeply analyzed; the national and international experience in this sphere is studied; advantages and disadvantages of the information providing of the investment process in the economy of the city of Makeyevka are considered; the investment portals of different cities are compared. There are suggested technical approaches for improving the investment portal of a large city. The research results can be used to improve the investment policy of large cities.

  19. Improved efficiency in OLEDs with a thin Alq3 interlayer

    International Nuclear Information System (INIS)

    Lian Jiarong; Yuan Yongbo; Cao Lingfang; Zhang Jie; Pang Hongqi; Zhou Yunfei; Zhou Xiang

    2007-01-01

    We demonstrate an improved efficiency in OLEDs with a thin Alq 3 interlayer, which is inserted into the hole-transport layer for adjusting the hole-injection and transport, and improving the hole-electron balance. The thin Alq 3 interlayer can effectively influence the electrical performance and electroluminescence (EL) efficiency of the devices. The devices with an optimum Alq 3 interlayer exhibit a maximum EL efficiency of around 3.3 cd/A, which is improved by a factor of two over the conventional devices (1.6 cd/A) without the interlayer

  20. Improving STEM Undergraduate Education with Efficient Learning Design

    DEFF Research Database (Denmark)

    Godsk, Mikkel

    2018-01-01

    The project investigates the potential of Learning Design for efficiently improving STEM undergraduate education with technology. In order to investigate this potential, the project consists of two main studies at Aarhus University: a study of the perspectives of the main stakeholders on Learning...... Design uptake. The project concludes that it is possible to improve STEM undergraduate education with Learning Design for technology-enhanced learning efficiently and that Efficient Learning Design provides a useful concept for qualifying educational decisions....... provided by technology-enhanced learning based on Learning Design, and in particular students’ learning was of a high common interest. However, only the educators were directly interested in Learning Design and its support for design, reuse in their practice and to inform pedagogy. A holistic concept...

  1. The Mutual Investments in Romania - Current Developments and Trends

    Directory of Open Access Journals (Sweden)

    Florina Oana VIRLANUTA

    2013-03-01

    Full Text Available Mutual fund industry in Romania has undergone significant growth in recent years in the number of investors and the net assets managed, but still very small compared to other European countries. Capital market development in Romania, the emergence of new investment instruments provides a greater variety of mutual funds investments. Managers decide on the structure of the portfolio by selecting categories of assets in accordance with the rules set out in the Prospectus and according to the degree of risk. In this paper we propose to realize an analysis of mutual investments system in Romania, the progress and their efficiency.

  2. Construction project investment control model based on instant information

    Institute of Scientific and Technical Information of China (English)

    WANG Xue-tong

    2006-01-01

    Change of construction conditions always influences project investment by causing the loss of construction work time and extending the duration. To resolve such problem as difficult dynamic control in work construction plan, this article presents a concept of instant optimization by ways of adjustment operation time of each working procedure to minimize investment change. Based on this concept, its mathematical model is established and a strict mathematical justification is performed. An instant optimization model takes advantage of instant information in the construction process to duly complete adjustment of construction; thus we maximize cost efficiency of project investment.

  3. Steam Pressure-Reducing Station Safety and Energy Efficiency Improvement Project

    Energy Technology Data Exchange (ETDEWEB)

    Lower, Mark D [ORNL; Christopher, Timothy W [ORNL; Oland, C Barry [ORNL

    2011-06-01

    The Facilities and Operations (F&O) Directorate is sponsoring a continuous process improvement (CPI) program. Its purpose is to stimulate, promote, and sustain a culture of improvement throughout all levels of the organization. The CPI program ensures that a scientific and repeatable process exists for improving the delivery of F&O products and services in support of Oak Ridge National Laboratory (ORNL) Management Systems. Strategic objectives of the CPI program include achieving excellence in laboratory operations in the areas of safety, health, and the environment. Identifying and promoting opportunities for achieving the following critical outcomes are important business goals of the CPI program: improved safety performance; process focused on consumer needs; modern and secure campus; flexibility to respond to changing laboratory needs; bench strength for the future; and elimination of legacy issues. The Steam Pressure-Reducing Station (SPRS) Safety and Energy Efficiency Improvement Project, which is under the CPI program, focuses on maintaining and upgrading SPRSs that are part of the ORNL steam distribution network. This steam pipe network transports steam produced at the ORNL steam plant to many buildings in the main campus site. The SPRS Safety and Energy Efficiency Improvement Project promotes excellence in laboratory operations by (1) improving personnel safety, (2) decreasing fuel consumption through improved steam system energy efficiency, and (3) achieving compliance with applicable worker health and safety requirements. The SPRS Safety and Energy Efficiency Improvement Project being performed by F&O is helping ORNL improve both energy efficiency and worker safety by modifying, maintaining, and repairing SPRSs. Since work began in 2006, numerous energy-wasting steam leaks have been eliminated, heat losses from uninsulated steam pipe surfaces have been reduced, and deficient pressure retaining components have been replaced. These improvements helped ORNL

  4. Investment risks in the economic system of enterprise

    Directory of Open Access Journals (Sweden)

    Kuchmenko V.О.

    2017-06-01

    Full Text Available The purpose of this paper is to conduct the comprehensive analysis of the impact of investment risks on the business entities and the search for effective mechanisms to overcome them or minimize. Any entity that runs business activity or the investment activity at the capital market is at risk because both the company and the individual investor do not have full confidence in regard to the size and period of occurrence of future cash flows associated with the decisions made. Thus, the comprehensive study of the nature of the investment risks of the enterprise and their classification was provided. We clarify the forms of their manifestation and discuss the effective mechanisms to minimize investment risk, which will give the investor the opportunity to obtain the maximum expected profit. An investment process is very complicated to be predicted and always connected with the risk of investment losses. At the stage of the investment project implementation it is necessary to take into consideration the methods of management practices and organization of production to ensure efficient distribution of available material and technical resources, labor resources and financial funds. It is important to understand how to manage investment risk effectively by using appropriate methods and classification required to optimize the process of further managerial decision-making related to risks and to find ways to minimize them.

  5. Internal governance systems and R&D investment: An international comparison.

    Directory of Open Access Journals (Sweden)

    Zouari-Hadiji Rim

    2010-01-01

    Full Text Available In the theoretical framework of corporate governance, this article studies the efficiency of the control exerted by the ownership structure and the board of directors on managers for the purpose of privileging investment in R&D. This efficiency is sensitive to national systems of governance. Tests realized on a sample of 531 U.S., Japanese and French firms with the canonical method corroborate the existence of positive relationships between concentration of ownership, the internal administrator dominance and the non-dual structure on the one hand, and the investment in R&D, on the other.

  6. Shared Investment Projects and Forecasting Errors: Setting Framework Conditions for Coordination and Sequencing Data Quality Activities

    Science.gov (United States)

    Leitner, Stephan; Brauneis, Alexander; Rausch, Alexandra

    2015-01-01

    In this paper, we investigate the impact of inaccurate forecasting on the coordination of distributed investment decisions. In particular, by setting up a computational multi-agent model of a stylized firm, we investigate the case of investment opportunities that are mutually carried out by organizational departments. The forecasts of concern pertain to the initial amount of money necessary to launch and operate an investment opportunity, to the expected intertemporal distribution of cash flows, and the departments’ efficiency in operating the investment opportunity at hand. We propose a budget allocation mechanism for coordinating such distributed decisions The paper provides guidance on how to set framework conditions, in terms of the number of investment opportunities considered in one round of funding and the number of departments operating one investment opportunity, so that the coordination mechanism is highly robust to forecasting errors. Furthermore, we show that—in some setups—a certain extent of misforecasting is desirable from the firm’s point of view as it supports the achievement of the corporate objective of value maximization. We then address the question of how to improve forecasting quality in the best possible way, and provide policy advice on how to sequence activities for improving forecasting quality so that the robustness of the coordination mechanism to errors increases in the best possible way. At the same time, we show that wrong decisions regarding the sequencing can lead to a decrease in robustness. Finally, we conduct a comprehensive sensitivity analysis and prove that—in particular for relatively good forecasters—most of our results are robust to changes in setting the parameters of our multi-agent simulation model. PMID:25803736

  7. Shared investment projects and forecasting errors: setting framework conditions for coordination and sequencing data quality activities.

    Science.gov (United States)

    Leitner, Stephan; Brauneis, Alexander; Rausch, Alexandra

    2015-01-01

    In this paper, we investigate the impact of inaccurate forecasting on the coordination of distributed investment decisions. In particular, by setting up a computational multi-agent model of a stylized firm, we investigate the case of investment opportunities that are mutually carried out by organizational departments. The forecasts of concern pertain to the initial amount of money necessary to launch and operate an investment opportunity, to the expected intertemporal distribution of cash flows, and the departments' efficiency in operating the investment opportunity at hand. We propose a budget allocation mechanism for coordinating such distributed decisions The paper provides guidance on how to set framework conditions, in terms of the number of investment opportunities considered in one round of funding and the number of departments operating one investment opportunity, so that the coordination mechanism is highly robust to forecasting errors. Furthermore, we show that-in some setups-a certain extent of misforecasting is desirable from the firm's point of view as it supports the achievement of the corporate objective of value maximization. We then address the question of how to improve forecasting quality in the best possible way, and provide policy advice on how to sequence activities for improving forecasting quality so that the robustness of the coordination mechanism to errors increases in the best possible way. At the same time, we show that wrong decisions regarding the sequencing can lead to a decrease in robustness. Finally, we conduct a comprehensive sensitivity analysis and prove that-in particular for relatively good forecasters-most of our results are robust to changes in setting the parameters of our multi-agent simulation model.

  8. Shared investment projects and forecasting errors: setting framework conditions for coordination and sequencing data quality activities.

    Directory of Open Access Journals (Sweden)

    Stephan Leitner

    Full Text Available In this paper, we investigate the impact of inaccurate forecasting on the coordination of distributed investment decisions. In particular, by setting up a computational multi-agent model of a stylized firm, we investigate the case of investment opportunities that are mutually carried out by organizational departments. The forecasts of concern pertain to the initial amount of money necessary to launch and operate an investment opportunity, to the expected intertemporal distribution of cash flows, and the departments' efficiency in operating the investment opportunity at hand. We propose a budget allocation mechanism for coordinating such distributed decisions The paper provides guidance on how to set framework conditions, in terms of the number of investment opportunities considered in one round of funding and the number of departments operating one investment opportunity, so that the coordination mechanism is highly robust to forecasting errors. Furthermore, we show that-in some setups-a certain extent of misforecasting is desirable from the firm's point of view as it supports the achievement of the corporate objective of value maximization. We then address the question of how to improve forecasting quality in the best possible way, and provide policy advice on how to sequence activities for improving forecasting quality so that the robustness of the coordination mechanism to errors increases in the best possible way. At the same time, we show that wrong decisions regarding the sequencing can lead to a decrease in robustness. Finally, we conduct a comprehensive sensitivity analysis and prove that-in particular for relatively good forecasters-most of our results are robust to changes in setting the parameters of our multi-agent simulation model.

  9. Marginal costs for intensified energy-efficiency measures

    International Nuclear Information System (INIS)

    Jakob, J.; Jochem, E.; Christen, K.

    2002-01-01

    The costs and benefits of investments in measures designed to improve the energy efficiency of residential buildings (in particular investments in heat insulation) were calculated as a function of increasing energy efficiency for new and renovated buildings and for single-family homes and apartment buildings. These investments in measures to improve efficiency mostly involve with the building envelope and ventilation systems and aim to successively reduce the space-heating needs of the buildings. The measures range from present-day building and renovation methods through to the 'Minergie' and 'Passive House' ('Minergie-P' in Switzerland) standards for low and very-low energy consumption buildings. Cost-benefit ratios were determined for individual building components, individual building concepts and for the whole of Switzerland, using both the average-cost as well as the pure marginal-cost methods (energy-economics level). The collection of empirical data (especially on costs) was an integral and important part of the project. The marginal costs were then compared with the benefits arising from the costs for space heating that were avoided, and, using a few typical cases as examples, with the so-called co-benefits, which are to be implemented in part by private persons and companies. For their quantification, methods were developed and used in case studies; in addition, avoided external costs are also considered. The marginal costs were also calculated for periods of time in the future, whereby they were made dynamic, according to their share of innovation, using the learning-curve method (learning and scaling effects). As far as the findings are concerned, there can be no doubt that the potential to be opened up for increasing energy efficiency using heat insulation measures is high, both for renovations and new construction work. A large portion of this potential is already economically viable and even more so when the possible risks of energy price increases

  10. Investments secure supply security

    International Nuclear Information System (INIS)

    Van Baarle, D.

    2006-01-01

    In order to guarantee the supply of energy considerable investment must be made to improve the infrastructure (e.g. capacity for LNG-transport and -storage) and ties with the natural gas supplier in the Russian Federation must be intensified [nl

  11. Entrepreneurial Saving Practices and Business Investment : Theory and Evidence from Tanzanian MSEs

    NARCIS (Netherlands)

    Beck, T.H.L.; Pamuk, H.; Uras, R.B.

    2014-01-01

    What is the relationship between entrepreneurs' saving practices and their investment decisions? We present a simply stylized model that shows that entrepreneur's business investment decision depends on the efficiency of her saving practice, in addition to the productivity, liquidity needs, and the

  12. Advancing social and economic development by investing in women's and children's health: a new Global Investment Framework.

    Science.gov (United States)

    Stenberg, Karin; Axelson, Henrik; Sheehan, Peter; Anderson, Ian; Gülmezoglu, A Metin; Temmerman, Marleen; Mason, Elizabeth; Friedman, Howard S; Bhutta, Zulfiqar A; Lawn, Joy E; Sweeny, Kim; Tulloch, Jim; Hansen, Peter; Chopra, Mickey; Gupta, Anuradha; Vogel, Joshua P; Ostergren, Mikael; Rasmussen, Bruce; Levin, Carol; Boyle, Colin; Kuruvilla, Shyama; Koblinsky, Marjorie; Walker, Neff; de Francisco, Andres; Novcic, Nebojsa; Presern, Carole; Jamison, Dean; Bustreo, Flavia

    2014-04-12

    A new Global Investment Framework for Women's and Children's Health demonstrates how investment in women's and children's health will secure high health, social, and economic returns. We costed health systems strengthening and six investment packages for: maternal and newborn health, child health, immunisation, family planning, HIV/AIDS, and malaria. Nutrition is a cross-cutting theme. We then used simulation modelling to estimate the health and socioeconomic returns of these investments. Increasing health expenditure by just $5 per person per year up to 2035 in 74 high-burden countries could yield up to nine times that value in economic and social benefits. These returns include greater gross domestic product (GDP) growth through improved productivity, and prevention of the needless deaths of 147 million children, 32 million stillbirths, and 5 million women by 2035. These gains could be achieved by an additional investment of $30 billion per year, equivalent to a 2% increase above current spending. Copyright © 2014 Elsevier Ltd. All rights reserved.

  13. Investment Attractiveness of Food Industries in Ukraine

    Directory of Open Access Journals (Sweden)

    L. О.

    2017-02-01

    Full Text Available Effective investment is a factor for long-term company development. As enhancement of investment attractiveness is a required condition for economic growth and improvement of living standards, it needs to be on the agenda at government and company level. The article’s objective is to study investment attractiveness of food industries in Ukraine over 2012–2015. Investment attractiveness of food industries can be measured by indicators of liquidity, financial sustainability, and profit rate. Basically, food industries in Ukraine are attractive for investment, which is demonstrated by assessment of the financial indicators. The investment attractiveness worsened slightly in 2015 compared with 2014. The essential problems faced by food industries are shortage of internal funds and negative profit rate of all the activities, assets and own capital. Official statistical data and software package SPSS are used to build the dendrogram, allowing for dividing food industries by level of investment attractiveness into three groups: industries with high, medium and low level of investment attractiveness. It is found that meat industry is the one with the highest level of investment attractiveness. Also, investors should look positively at food-canning industry, oil and animal fat industry, flour-milling industry, starch and starch products industry, and other foods industry.

  14. Improving Reliability, Security, and Efficiency of Reconfigurable Hardware Systems (Habilitation)

    NARCIS (Netherlands)

    Ziener, Daniel

    2017-01-01

    In this treatise,  my research on methods to improve efficiency, reliability, and security of reconfigurable hardware systems, i.e., FPGAs, through partial dynamic reconfiguration is outlined. The efficiency of reconfigurable systems can be improved by loading optimized data paths on-the-fly on an

  15. A dynamic optimization on economic energy efficiency in development: A numerical case of China

    International Nuclear Information System (INIS)

    Wang, Dong

    2014-01-01

    This paper is based on dynamic optimization methodology to investigate the economic energy efficiency issues in developing countries. The paper introduces some definitions about energy efficiency both in economics and physics, and establishes a quantitative way for measuring the economic energy efficiency. The linkage between economic energy efficiency, energy consumption and other macroeconomic variables is demonstrated primarily. Using the methodology of dynamic optimization, a maximum problem of economic energy efficiency over time, which is subjected to the extended Solow growth model and instantaneous investment rate, is modelled. In this model, the energy consumption is set as a control variable and the capital is regarded as a state variable. The analytic solutions can be derived and the diagrammatic analysis provides saddle-point equilibrium. A numerical simulation based on China is also presented; meanwhile, the optimal paths of investment and energy consumption can be drawn. The dynamic optimization encourages governments in developing countries to pursue higher economic energy efficiency by controlling the energy consumption and regulating the investment state as it can conserve energy without influencing the achievement of steady state in terms of Solow model. If that, a sustainable development will be achieved. - Highlights: • A new definition on economic energy efficiency is proposed mathematically. • A dynamic optimization modelling links economic energy efficiency with other macroeconomic variables in long run. • Economic energy efficiency is determined by capital stock level and energy consumption. • Energy saving is a key solution for improving economic energy efficiency

  16. Mobilizing Private Sector Investment in Adaptation to Climate Change

    International Development Research Centre (IDRC) Digital Library (Canada)

    Climate change and the private sector Private sector investment in climate change adaptation has ... Encouraging investments in adaptation This research will create an evidence base ... New project to improve water management in the Sahel.

  17. Investment shocks and the relative price of investment

    OpenAIRE

    Justiniano, Alejandro; Primiceri, Giorgio E.; Tambalotti, Andrea

    2009-01-01

    We estimate a New-Neoclassical Synthesis model of the business cycle with two investment shocks. The first, an investment-specific technology shock, affects the transformation of consumption into investment goods and is identified with the relative price of investment. The second shock affects the production of installed capital from investment goods or, more broadly, the transformation of savings into future capital input. We find that this shock is the most important driver of U.S. business...

  18. Efficiency improvement opportunities in TVs: Implications for market transformation programs

    International Nuclear Information System (INIS)

    Park, Won Young; Phadke, Amol; Shah, Nihar; Letschert, Virginie

    2013-01-01

    Televisions (TVs) account for a significant portion of residential electricity consumption and global TV shipments are expected to continue to increase. We assess the market trends in the energy efficiency of TVs that are likely to occur without any additional policy intervention and estimate that TV efficiency will likely improve by over 60% by 2015 with savings potential of 45 terawatt-hours [TW h] per year in 2015, compared to today’s technology. We discuss various energy-efficiency improvement options and evaluate the cost effectiveness of three of them. At least one of these options improves efficiency by at least 20% cost effectively beyond ongoing market trends. We provide insights for policies and programs that can be used to accelerate the adoption of efficient technologies to further capture global energy savings potential from TVs which we estimate to be up to 23 TW h per year in 2015. - Highlights: • We analyze the impact of the recent TV market transition on TV energy consumption. • We review TV technology options that could be realized in the near future. • We assess the cost-effectiveness of selected energy-efficiency improvement options. • We estimate global electricity savings potential in selected scenarios. • We discuss possible directions of market transformation programs

  19. ASSESSMENT OF INVESTMENT APPEAL OF THE ENTERPRISE ON THE BASIS OF THE RATING INDICATOR

    Directory of Open Access Journals (Sweden)

    Светлана Рахимовна Макуева

    2013-09-01

    Full Text Available Nowadays, in order to maximize the investing efficiency, every investor should have the ability to value an investment appetite for the investment object in a short time. This article is about the method of analysis based on a rating system, allowing profit-making organizations and banks not only to carry out a comprehensive analysis of the efficiency of economic activities and financial performance of an economic entity, but also to rank multiple entities of certain industry, in compliance with specific goals and objectives. This method considers the interests of both lending agencies and institutional investors, which is a scientific novelty in analysis of investment appetite for the enterprises.DOI: http://dx.doi.org/10.12731/2218-7405-2013-6-36

  20. Policy Pathways: Joint Public-Private Approaches for Energy Efficiency Finance

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-09-06

    This Policy Pathway outlines, through the experiences and lessons learned from country examples, the critical elements to put in place a public-private partnership to finance energy efficiency. It focuses on three mechanisms - dedicated credit lines, risk guarantees, and energy performance service contracts and presents the planning, implementing, monitoring, and evaluating phases of implemention. Accelerating and scaling up private investment in energy efficiency is crucial to exploit the potential of energy efficiency. However many barriers remain to private investment such as access to capital, uncertainty of future energy prices, transaction costs, perceived higher risk, and lack of knowledge. As part of the IEA 25 Energy Efficiency Policy Recommendations, the IEA recommends that governments support private investment in energy efficiency. A joint public-private approach can use public finance and regulatory policy to support the scaling up of private investment in energy efficiency.

  1. Improving crop nutrient efficiency through root architecture modifications.

    Science.gov (United States)

    Li, Xinxin; Zeng, Rensen; Liao, Hong

    2016-03-01

    Improving crop nutrient efficiency becomes an essential consideration for environmentally friendly and sustainable agriculture. Plant growth and development is dependent on 17 essential nutrient elements, among them, nitrogen (N) and phosphorus (P) are the two most important mineral nutrients. Hence it is not surprising that low N and/or low P availability in soils severely constrains crop growth and productivity, and thereby have become high priority targets for improving nutrient efficiency in crops. Root exploration largely determines the ability of plants to acquire mineral nutrients from soils. Therefore, root architecture, the 3-dimensional configuration of the plant's root system in the soil, is of great importance for improving crop nutrient efficiency. Furthermore, the symbiotic associations between host plants and arbuscular mycorrhiza fungi/rhizobial bacteria, are additional important strategies to enhance nutrient acquisition. In this review, we summarize the recent advances in the current understanding of crop species control of root architecture alterations in response to nutrient availability and root/microbe symbioses, through gene or QTL regulation, which results in enhanced nutrient acquisition. © 2015 Institute of Botany, Chinese Academy of Sciences.

  2. Electric motor systems in developing countries: Opportunities for efficiency improvement

    Energy Technology Data Exchange (ETDEWEB)

    Meyers, S.; Monahan, P.; Lewis, P.; Greenberg, S. [Lawrence Berkeley Lab., CA (United States); Nadel, S. [American Council for an Energy-Efficient Economy, Washington, DC (United States)

    1993-08-01

    This report presents an overview of the current status and efficiency improvement potential of industrial motor systems in developing countries. Better management of electric motor systems is of particular relevance in developing countries, where improved efficiency can lead to increased productivity and slower growth in electricity demand. Motor systems currently consume some 65--80% of the industrial electricity in developing countries. Drawing on studies from Thailand, India, Brazil, China, Pakistan, and Costa Rica, we describe potential efficiency gains in various parts of the motor system, from the electricity delivery system through the motor to the point where useful work is performed. We report evidence of a significant electricity conservation potential. Most of the efficiency improvement methods we examine are very cost-effective from a societal viewpoint, but are generally not implemented due to various barriers that deter their adoption. Drawing on experiences in North America, we discuss a range of policies to overcome these barriers, including education, training, minimum efficiency standards, motor efficiency testing protocols, technical assistance programs, and financial incentives.

  3. Stochastic frontier model approach for measuring stock market efficiency with different distributions.

    Science.gov (United States)

    Hasan, Md Zobaer; Kamil, Anton Abdulbasah; Mustafa, Adli; Baten, Md Azizul

    2012-01-01

    The stock market is considered essential for economic growth and expected to contribute to improved productivity. An efficient pricing mechanism of the stock market can be a driving force for channeling savings into profitable investments and thus facilitating optimal allocation of capital. This study investigated the technical efficiency of selected groups of companies of Bangladesh Stock Market that is the Dhaka Stock Exchange (DSE) market, using the stochastic frontier production function approach. For this, the authors considered the Cobb-Douglas Stochastic frontier in which the technical inefficiency effects are defined by a model with two distributional assumptions. Truncated normal and half-normal distributions were used in the model and both time-variant and time-invariant inefficiency effects were estimated. The results reveal that technical efficiency decreased gradually over the reference period and that truncated normal distribution is preferable to half-normal distribution for technical inefficiency effects. The value of technical efficiency was high for the investment group and low for the bank group, as compared with other groups in the DSE market for both distributions in time-varying environment whereas it was high for the investment group but low for the ceramic group as compared with other groups in the DSE market for both distributions in time-invariant situation.

  4. Stochastic frontier model approach for measuring stock market efficiency with different distributions.

    Directory of Open Access Journals (Sweden)

    Md Zobaer Hasan

    Full Text Available The stock market is considered essential for economic growth and expected to contribute to improved productivity. An efficient pricing mechanism of the stock market can be a driving force for channeling savings into profitable investments and thus facilitating optimal allocation of capital. This study investigated the technical efficiency of selected groups of companies of Bangladesh Stock Market that is the Dhaka Stock Exchange (DSE market, using the stochastic frontier production function approach. For this, the authors considered the Cobb-Douglas Stochastic frontier in which the technical inefficiency effects are defined by a model with two distributional assumptions. Truncated normal and half-normal distributions were used in the model and both time-variant and time-invariant inefficiency effects were estimated. The results reveal that technical efficiency decreased gradually over the reference period and that truncated normal distribution is preferable to half-normal distribution for technical inefficiency effects. The value of technical efficiency was high for the investment group and low for the bank group, as compared with other groups in the DSE market for both distributions in time-varying environment whereas it was high for the investment group but low for the ceramic group as compared with other groups in the DSE market for both distributions in time-invariant situation.

  5. Towards a More Energy Efficient Future: Applying indicators to enhance energy policy

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2009-07-01

    Improving energy efficiency is a shared policy goal of many governments around the world. The benefits of more efficient use of energy are well known. Not only does it reduce energy costs and investments in energy infrastructure, it also lowers fossil fuel dependency and CO2 emissions, while at the same time increasing competitiveness and improving consumer welfare. Yet many questions remain unanswered. What are the latest trends in global energy use and CO2 emissions? How do factors such as demography, economic structure, income, lifestyle and climate affect these trends? Where are the greatest potentials to further improve energy efficiency, and which data are required to support energy efficiency policy development? This publication answers these questions using the latest insights from the IEA energy indicators work. The goal is to show policy makers how in-depth indicators can be used to track the progress in efficiency and identify new opportunities for improvements.

  6. Method of estimating investment decisions effectiveness in power engineering

    International Nuclear Information System (INIS)

    Kamrat, W.

    1996-01-01

    A new concept of determining efficient power plants investment decision-making is proposed.The results of research on capital expenditures for building and modernization of power plants are presented. The model introduced is based on the well-known Annual Cost Model which is modified by adding annual risk costs. So the formula for annual costs is: K = K f + K v + K r , where: K f are annual fixed costs, K v - annual variables costs, K r -annual risk costs. The annual risk costs can be calculated by the expression: K r = e i x K c , where e i is the investment risk factor, and K c - leveled capital investment. The risk factor was created on the basis of some elements of the taxonometric method with a high level of estimation probability. The essential problem is the selection of risk investment variables, most important of which are economic, financial, technical, social, political, legal. These variables create a multidimensional space. A so called 'ideal' model of the power plant is created taking into account capacity, type, fuel used, etc. The values of the multidimensional risk factor e i lie within limit and make it possible to rank the planned plants in series according to the estimated level of risk. This method can be used not only for risk evaluation in power engineering but also for investment efficiency studies in different industrial branches

  7. Idaho Chemical Processing Plant Process Efficiency improvements

    International Nuclear Information System (INIS)

    Griebenow, B.

    1996-03-01

    In response to decreasing funding levels available to support activities at the Idaho Chemical Processing Plant (ICPP) and a desire to be cost competitive, the Department of Energy Idaho Operations Office (DOE-ID) and Lockheed Idaho Technologies Company have increased their emphasis on cost-saving measures. The ICPP Effectiveness Improvement Initiative involves many activities to improve cost effectiveness and competitiveness. This report documents the methodology and results of one of those cost cutting measures, the Process Efficiency Improvement Activity. The Process Efficiency Improvement Activity performed a systematic review of major work processes at the ICPP to increase productivity and to identify nonvalue-added requirements. A two-phase approach was selected for the activity to allow for near-term implementation of relatively easy process modifications in the first phase while obtaining long-term continuous improvement in the second phase and beyond. Phase I of the initiative included a concentrated review of processes that had a high potential for cost savings with the intent of realizing savings in Fiscal Year 1996 (FY-96.) Phase II consists of implementing long-term strategies too complex for Phase I implementation and evaluation of processes not targeted for Phase I review. The Phase II effort is targeted for realizing cost savings in FY-97 and beyond

  8. Costs and benefits of energy efficiency improvements in ceiling fans

    Energy Technology Data Exchange (ETDEWEB)

    Shah, Nihar; Sathaye, Nakul; Phadke, Amol; Letschert, Virginie [Lawrence Berkeley National Lab., CA (United States). Environmental Energy Technology Division

    2013-10-15

    Ceiling fans contribute significantly to residential electricity consumption, especially in developing countries with warm climates. The paper provides analysis of costs and benefits of several options to improve the efficiency of ceiling fans to assess the global potential for electricity savings and green house gas (GHG) emission reductions. Ceiling fan efficiency can be cost-effectively improved by at least 50% using commercially available technology. If these efficiency improvements are implemented in all ceiling fans sold by 2020, 70 terawatt hours per year could be saved and 25 million metric tons of carbon dioxide equivalent (CO2-e) emissions per year could be avoided, globally. We assess how policies and programs such as standards, labels, and financial incentives can be used to accelerate the adoption of efficient ceiling fans in order to realize potential savings.

  9. Investment Process in Territorial Government Sectors

    Directory of Open Access Journals (Sweden)

    Cleopatra Sendroiu

    2006-10-01

    Full Text Available The increase in the quality of the public administration act represents one of the major targets for the local authorities. From this point of view, the identification and implementation in the current practice of some methods, techniques and advanced working tools might have a significant impact.The investments’ programme as a tool accessible to local public authorities gains an increased legitimacy on the grounds of its civic consent; therefore, the external investors and other potential investors can take advantage of the community’s support in those projects they finance within region.The current framework of the investment activity in the local public sector is characterized by constraints within action, sometimes without continuity or precise targets. The declared urgency of a certain investment objective mostly turns out to be the selection and implementation criterion. In this present work there will be presented a few methods and ways in which town halls can realize public investments in the near future. The adoption of a specific proposal might lead to procedural and organizational modifications for the attainment of the maximum efficiency within the investment process.

  10. The Social Investment in Social Capital

    Directory of Open Access Journals (Sweden)

    Gritsaenko Galina I.

    2018-01-01

    Full Text Available The article is aimed at defining the essence of social investment, substantiating the levels of their implementation, and identifying the mechanisms of influence on social capital. The dynamics of the level of trust in the Ukrainian society is analyzed, on the basis of which the conclusion about the crisis of complete personal and institutional distrust, as well as the necessity of systematic work on the formation of social capital, has been made. The essence of social investments as such, which are directed on development of objects of social environment, including human and social capitals, has been defined. It has been suggested to study social investment on the nano-, micro-, meso-, macro- and mega-levels. The relevant investors and beneficiaries, as well as possible directions of their activity activation, are considered. Prospect for further scientific researches should be development of mechanism for efficient interaction of international organizations, governmental structures, representatives of business and civil society as a whole with the purpose of formation of strategy of social investment, which would facilitate the implementation of structural reforms and ensure the sustainable development of Ukraine.

  11. INVESTMENT AND INNOVATION FACTORS IN THE MECHANICAL ENGINEERING OF THE REGIONS IN THE IMPLEMENTATION OF THE PROGRAMME OF DEVELOPMENT OF THE ARCTIC ZONE OF THE RUSSIAN FEDERATION

    Directory of Open Access Journals (Sweden)

    V. N. Borisov

    2017-01-01

    Full Text Available Purpose: in the article we have carried out research of efficiency of investment and innovative-technological activity in the mechanical engineering of the regions involved in the Program development of the Arctic zone of the Russian Federation. Presented the approach to the assessment of efficiency of investment and technological innovation activities in these regions and influence the development of mechanical engineering.Purpose: in the article we have carried out research of efficiency of investment and innovative-technological activity in the mechanical engineering of the regions involved in the Program development of the Arctic zone of the Russian Federation. Presented the approach to the assessment of efficiency of investment and technological innovation activities in these regions and influence the development of mechanical engineering.Methods: suggested and used the tools of forecasting and analytical studies of the effects that result from the impact of the investment and innovative-technological factors on the development of industry in the regions, with priority mechanical engineering.Results: as a result, we have got a quantitative evaluation of investment and innovative factors for the development of regional economies. We also have built integrated indicators of economic and technological effects arising from the investment and innovative-technological activity involving machinery production in these regions.Conclusions and relevance: interpretation of the results shows that in most regions innovation and investment activities have a significant impact on the competitiveness of manufactured machinery products and on the export potential of the region. The potential of regional economic development lies in the interaction of domestic production and the innovative technological component. In the course of the implementation of the Arctic project, the demand for new technologies and scientific results is formed, the specific

  12. New raw materials improve packing sealing efficiency

    International Nuclear Information System (INIS)

    Igel, B.; McKeague, L.

    2012-01-01

    End-users and OEM's using or manufacturing on/off and control valves expect a permanent and effective increase in service life together with an increased sealing capability while at the same time minimizing maintenance concerns. Developing materials which provide consistency and repeatability are essential characteristics to optimizing valve performance. “New Generation” materials and yarn allow us to meet this growing demand while complying with the requirements related to chemical purity and an increased level of safety to both plant workers and equipment in the nuclear environment. Through R&D initiatives and developments in new and improved raw materials; a new mechanical packing generation which optimizes friction coefficients and extended life cycle has been introduced to the industry. Lower friction values drastically optimize actuator effort and size improving efficiency for stem operation with significant improvements in flow control of fluids. Combined with new and improved procedures (installation, torque levels and consolidation recommendations), this new packing generation has provided significant improvement in the mechanical behavior of packing materials (independent tests carried out in collaboration with AECL and CETIM) this has provided the opportunity to develop successful Valve Enhancement Programs which offer improved efficiency, valve operation and repeatability. These NEW generation yarns are available with or without wire reinforcement depending on specific operating parameters and conditions. The purpose of this presentation is to demonstrate that new generation material(s). Which are available to the industry for AOV, MOV and Manual valves? - To highlight the steps taken in R&D and manufacturing contributing to the much improved yarns and finished packing products. - Comply and are designed to meet the stringent requirements in the nuclear industry - Simplify valve maintenance without risk to safety or performance - Increase service

  13. Environmental Efficiency Analysis of Listed Cement Enterprises in China

    Directory of Open Access Journals (Sweden)

    Fang Zhang

    2016-05-01

    Full Text Available China’s cement production has been the highest worldwide for decades and contributes significant environmental pollution. Using a non-radical DEA model with slacks-based measure (SBM, this paper analyzes the environmental efficiency of China’s listed cement companies. The results suggest that the average mean of the environmental efficiency for the listed cement enterprises shows a decreasing trend in 2012 and 2013. There is a significant imbalance in environmental efficiency in these firms ranging from very low to very high. Further investigation finds that enterprise size and property structure are key factors. Increasing production concentration and decreasing the share of government investment could improve the environmental efficiency. The findings also suggest that effectively monitoring pollution products can improve environmental efficiency quickly, whereas pursuit for excessive profitability without keeping the same pace in energy saving would cause a sharp drop in environmental efficiency. Based on these findings, we proposed that companies in the Chinese cement sector might consider restructuring to improve environmental efficiency. They also need to make a trade-off between profitability and environmental protection. Finally, the Chinese government should reduce ownership control and management interventions in cement companies.

  14. Analysis of exploration expenditure for unconventional gas : how investing in exploration would improve reserves and production

    International Nuclear Information System (INIS)

    Virine, L.

    2010-01-01

    This paper described a method for analyzing the efficiency of exploration investment, which can improve corporate planning. Exploration expenditure is held to be a main indicator of economic activities in the oil and gas industry because exploration is supposed to lead to booking more reserves and increased production. A model was developed for analyzing the correlation between exploration expenditure and producer's reserves and production for conventional and unconventional gas plays in the United States. The model was used to quantitatively assess the exploration expenditures production and reserves of different producers for various conventional and unconventional gas plays. Producer's booked reserves, production from public sources, and reserves and production forecasts were incorporated into the model, which was used to analyze different types of exploration expenditure (land, drilling, and seismic) incurred at various times prior to reserves and production being booked. There was an overall positive correlation between exploration expenditure and reserves and production, but there was significant variance in the correlation between various producers operating in different plays. Unproved land acquisition was strongly correlated to the booking of proved reserves, but there was no correlation between unproved land acquisition and exploration expenditure ratio, reserves, or production. A number of companies had a high exploration expenditure to overall expenditure ratio, but the resulting payoffs were inconsistent. 6 refs., 1 tab., 6 figs.

  15. Upgrading and efficiency improvement in coal-fired power plants

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2013-08-01

    Improving the efficiencies of the large number of older coal-fired power plants operating around the world would give major savings in CO2 emissions together with significant other benefits. This report begins with a summary of the ways efficiency can become degraded and of the means available to combat the decrease in performance. These include improvements to operating and maintenance practices and more major techniques that are available, including boiler and turbine retrofits. There is also an update on fuel drying developments as a route to higher efficiency in plants firing high moisture lignites. The largest chapter of the report contains a number of descriptions of case study improvement projects, to illustrate measures that have been applied, benefits that have been achieved and identify best practices, which are summarised. Major national and international upgrading programmes are described.

  16. Winds of change: How high wind penetrations will affect investment incentives in the GB electricity sector

    International Nuclear Information System (INIS)

    Steggals, Will; Gross, Robert; Heptonstall, Philip

    2011-01-01

    Wind power is widely expected to expand rapidly in Britain over the next decade. Large amounts of variable wind power on the system will increase market risks, with prices more volatile and load factors for conventional thermal plant lower and more uncertain. This extra market risk may discourage investment in generation capacity. Financial viability for thermal plant will be increasingly dependent on price spikes during periods of low wind. Increased price risk will also make investment in other forms of low-carbon generation (e.g. nuclear power) more challenging. A number of policies can reduce the extent to which generators are exposed to market risks and encourage investment. However, market risks play a fundamental role in shaping efficient investment and dispatch patterns in a liberalised market. Therefore, measures to improve price signals and market functioning (such as a stronger carbon price and developing more responsive demand) are desirable. However, the scale of the investment challenge and increased risk mean targeted measures to reduce (although not eliminate) risk exposure, such as capacity mechanisms and fixed price schemes, may have increasing merit. The challenge for policy is to strike the right balance between market and planned approaches. - Research highlights: → Analyses how increases penetrations of wind power effect electricity market functioning. → Assesses the impacts of this on investment incentives for different technologies. → Discusses implications for policy and market design.

  17. Direct and indirect co-benefits from energy-efficient residential buildings

    International Nuclear Information System (INIS)

    Ott, W.; Baur, M.; Jakob, M.

    2006-01-01

    Co-benefits of energy efficiency investments such as increased comfort of living, reduced noise exposure, and improved indoor air quality are of considerable evidence. However in investment decisions these co-benefits are rarely taken into account. Using various economic estimation methods (discrete choice, hedonic regression, contingent valuation), this study identifies and quantifies in monetary terms the most important co-benefits of energy efficiency measures. The results show that regarding energy efficiency measures, comfort of living plays a major role and that inhabitants express a non-negligible willingness to pay for it. The willingness to pay is larger than the costs of the energy efficiency measures in most cases and for a large part of the population. To utilise this willingness to pay in the market place it is necessary to establish transparency regarding comfort-of-living aspects and to raise awareness about these aspects among all involved actors (inhabitants, investors, architects, planners, promoters, vendors) by adequate information and communication measures. In view of the high relevance and the noticed economic valuation of the qualitative co-benefits, energy efficiency measures have to be promoted with their related enhancements in terms of comfort of living. (author)

  18. Effective and efficient learning in the operating theater with intraoperative video-enhanced surgical procedure training.

    Science.gov (United States)

    van Det, M J; Meijerink, W J H J; Hoff, C; Middel, B; Pierie, J P E N

    2013-08-01

    INtraoperative Video Enhanced Surgical procedure Training (INVEST) is a new training method designed to improve the transition from basic skills training in a skills lab to procedural training in the operating theater. Traditionally, the master-apprentice model (MAM) is used for procedural training in the operating theater, but this model lacks uniformity and efficiency at the beginning of the learning curve. This study was designed to investigate the effectiveness and efficiency of INVEST compared to MAM. Ten surgical residents with no laparoscopic experience were recruited for a laparoscopic cholecystectomy training curriculum either by the MAM or with INVEST. After a uniform course in basic laparoscopic skills, each trainee performed six cholecystectomies that were digitally recorded. For 14 steps of the procedure, an observer who was blinded for the type of training determined whether the step was performed entirely by the trainee (2 points), partially by the trainee (1 point), or by the supervisor (0 points). Time measurements revealed the total procedure time and the amount of effective procedure time during which the trainee acted as the operating surgeon. Results were compared between both groups. Trainees in the INVEST group were awarded statistically significant more points (115.8 vs. 70.2; p < 0.001) and performed more steps without the interference of the supervisor (46.6 vs. 18.8; p < 0.001). Total procedure time was not lengthened by INVEST, and the part performed by trainees was significantly larger (69.9 vs. 54.1 %; p = 0.004). INVEST enhances effectiveness and training efficiency for procedural training inside the operating theater without compromising operating theater time efficiency.

  19. Improvement of the Dehulling Efficiency of Sorghum and Millet using ...

    African Journals Online (AJOL)

    Conditioning of grain with heat and moisture is known to loosen the adhesion of the seed coat from the endosperm and therefore improve the dehulling efficiency of some grains such as beans, cowpea and canola. This study investigated the effect of hydrothermal treatment on the improvement of dehulling efficiency of ...

  20. The impact of regulation, privatization and competition on gas infrastructure investments

    International Nuclear Information System (INIS)

    Andrade, Tiago

    2014-01-01

    In recent years we have witnessed several reforms in network industries, as privatization, regulatory changes and opening to competition in certain segments of the value chain. In sectors such as electricity and gas, this opening to competition is possible only in certain activities (i.e. generation, storage of natural gas and supply), maintaining as a natural monopoly the activities of distribution and transmission, and therefore still subject to regulation. The performance of these regulated segments can have important effects on the operation of the competitive segments, because the regulated segments (i.e. the transmission and distribution networks) provide the infrastructure platform upon which the competitive activities rely. The motivation of this paper is to evaluate the effects of privatization, liberalization and regulation on investments, as components of the reform of the natural gas sector. An empirical analysis was carried out using a panel data of 11 European countries from 2001 to 2011, with the aim to better understand the determinants influencing investment, thus contributing to a better understanding of the dynamics of this sector and meet the investments needs established by energy policies. - Highlights: • We carried out an empirical analysis using a panel data of 11 European TSO's from 2001 to 2011. • Privatization has a significant impact on investments, “more privatization means less investment”. • Different forms of regulation seem to play an important role in transmission investment. • It was found that incentive regulation has a positive impact leading to a higher investment more than rate of return. • Efficiency is an effective driver to increased investment. TSO's “only” invests if they have good operational efficiency

  1. Investment analysis of St. Petersburg and Leningrad region

    Directory of Open Access Journals (Sweden)

    E. A. Borkova

    2016-01-01

    Full Text Available This article discusses the need for new approaches to improve the competitiveness of North-West Federal District of Russia, which based on knowledge of tendencies of innovation development. Innovative development ensures sustainable development of the region. Analysis conducted by the author has the main idea to evaluate the prospects of economic development of the region. It is almost impossible to imagine the modern world without innovations occurred, that have become familiar, and future innovations contributing to the further evolution of the economic system. Most scientists agree on that innovation has become the main driving force of economic and social development. Therefore, the main research problem is the assessment of the prospects of economic and innovative development of the North-West Federal District and its place in the Economy of Russia. Russia - the country is so sharp inter-regional economic, social and political contrasts that each potential investor with sufficient information about the investment climate can select the region with the best conditions for investment. Usually the investor to make a decision is necessary to have estimates of the degree of investment attractiveness and the level of existing risks. The division of regions on the basis of the investment attractiveness allows more reasonable to formulate the basic principles of regional policy, as well as to encourage regional governments to more vigorous action to improve the investment climate. Analysis of investment attractiveness of the Russian Federation subjects showed that the regions have different investment opportunities (potentials, and they have different risk factors. Research investment processes involved in a huge number of economists and analysts. Additional investments are required in any industry. Whether it is to attract the investor to open a new business, maintaining the city-forming enterprise, a particular region or country as a whole.

  2. From the lab to the marketplace: Making America`s buildings more energy efficient

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-01-01

    Since the mid 1970s, DOE has invested some $70 million in research and development at Lawrence Berkeley Laboratory (LBL) for energy-efficiency studies of advanced building technologies. That investment has helped spawn a $2.4-billion US market for key products -- energy-efficient lighting and advanced window coatings -- and efficiency standards for residential equipment and computerized tools for more efficient building design. By 1993 DOE`s initial investment had reduced consumers` energy bills by an estimated $5 billion ($1.3 billion in 1993 alone). By 2015 the authors estimate that the products of that investment will save consumers $16 billion annually. But LBL research partnerships address a host of other building technology issues as well-building technology issues whose economic benefits are less easy to quantify but whose overall worth is equally important. They analyze public policy issues such as the role of efficiency options as a mitigation strategy for global climate change. They develop planning and demand-management methodologies for electric and gas utilities. They identify technologies and analytical methods for improving human comfort and the quality of indoor air. They contribute to the information superhighway. They focus on the special problems and opportunities presented by energy use in the public sector. And they do all these things at the local, national, and international levels. At LBL, they are part of the multi-laboratory, interdisciplinary approach to building technology research supported by DOE`s Office of Energy Efficiency and Renewable Energy. They also participate in buildings-related research supported by DOE`s Office of Health and Environmental Research, other federal agencies, and industry. This document describes LBL`s role within this wider effort.

  3. From the lab to the marketplace: Making America`s buildings more energy efficient

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-06-01

    Since the mid 1970s, DOE has invested some $70 million in research and development at Lawrence Berkeley Laboratory (LBL) for development of advanced energy-efficient building technologies, software, and standards. That investment has helped spawn a $2.4-billion U.S. market for key products-energy-efficient lighting and advanced window coatings-and efficiency standards for residential equipment and computerized tools for more efficient building design. By 1993 DOE`s initial investment had reduced consumers` energy bills by an estimated $5 billion ($1.3 billion in 1993 alone). By 2015 we estimate that the products of that investment will save consumers $16 billion annually. LBL research partnerships address a host of other building technology issues as well-building technology issues whose economic benefits are less easy to quantify but whose overall worth is equally important. We analyze public policy issues such as the role of efficiency options as a mitigation strategy for global climate change. We develop planning and demand-management methodologies for electric and gas utilities. We identify technologies and analytical methods for improving human comfort and the quality of indoor air. We contribute to the information superhighway. We focus on the special problems and opportunities presented by energy use in the public sector. And we do all these things at the local, national, and international levels. At LBL, we are part of the multi-laboratory, interdisciplinary approach to building technology research supported by DOE`s Office of Energy Efficiency and Renewable Energy. We also participate in buildings-related research supported by DOE`s Office of Health and Environmental Research, other federal agencies, and industry. This document describes LBL`s role within this wider effort.

  4. Energy efficiency in California laboratory-type facilities

    Energy Technology Data Exchange (ETDEWEB)

    Mills, E.; Bell, G.; Sartor, D. [and others

    1996-07-31

    The central aim of this project is to provide knowledge and tools for increasing the energy efficiency and performance of new and existing laboratory-type facilities in California. We approach the task along three avenues: (1) identification of current energy use and savings potential, (2) development of a {ital Design guide for energy- Efficient Research Laboratories}, and (3) development of a research agenda for focused technology development and improving out understanding of the market. Laboratory-type facilities use a considerable amount of energy resources. They are also important to the local and state economy, and energy costs are a factor in the overall competitiveness of industries utilizing laboratory-type facilities. Although the potential for energy savings is considerable, improving energy efficiency in laboratory-type facilities is no easy task, and there are many formidable barriers to improving energy efficiency in these specialized facilities. Insufficient motivation for individual stake holders to invest in improving energy efficiency using existing technologies as well as conducting related R&D is indicative of the ``public goods`` nature of the opportunity to achieve energy savings in this sector. Due to demanding environmental control requirements and specialized processes, laboratory-type facilities epitomize the important intersection between energy demands in the buildings sector and the industrial sector. Moreover, given the high importance and value of the activities conducted in laboratory-type facilities, they represent one of the most powerful contexts in which energy efficiency improvements stand to yield abundant non-energy benefits if properly applied.

  5. Japanese investment in Peru: limits of developmental investment

    OpenAIRE

    Kamiya, Marco

    2004-01-01

    Japanese Investment in Latin America was considerable in the 1960s and 1970s, but the investment never took off in the developmental style as in East Asia. The author examines why Japanese Foreign Direct Investment in Peru did not follow the pattern of developmental investment, analyzing the elements involved regarding policies in Peru and particular circumstances in Japan in the 1990 decade.

  6. Promotion of energy efficiency in enterprises; Foerderung von Energieeffizienz in Unternehmen; Foerderinstrumente mit und ohne Bezug auf Umweltmanagementsysteme

    Energy Technology Data Exchange (ETDEWEB)

    Beltrani, G.; Schelske, O. [Ernst Basler und Partner AG, Zollikon (Switzerland); Peter, D.; Oettli, B. [Infras, Zuerich (Switzerland)

    2003-07-01

    This comprehensive report for the Swiss Federal Office of Energy (SFOE) presents the results of a study made within the framework of the research programme on energy-economics fundamentals on how the energy efficiency of enterprises can be improved. The report first examines the present state of affairs in Swiss enterprises and looks into the interaction of energy efficiency and environmental management systems. ISO 14001 certification is discussed and examples are given of the responses of various enterprises to a survey concerning the role of energy efficiency in environmental management. Both hindrances and success factors for the embedding of energy-efficiency measures in environmental management activities are discussed and examples are given. Instruments available in Switzerland and from abroad that can be used to promote energy efficiency in enterprises are discussed. Four particular instruments are presented; guidelines and computer-based tools that help in the making of energy-relevant investment decisions, incentives to take part in an energy-benchmark system for small and medium-sized enterprises (SME), low-interest loans for investments in energy-efficiency for SMEs and the closer definition of 'continuous improvement' of energy efficiency within the framework of ISO 14001. The results of a survey amongst those involved are discussed. The report is concluded with recommendations for the implementation of the guidelines and for improvements in the integration of energy efficiency in environmental management systems.

  7. THE EFFICIENCY ANALYSIS OF SINGAPORE REAL ESTATE INVESTMENT TRUSTS

    Directory of Open Access Journals (Sweden)

    Hui Chen Chiang

    2016-11-01

    Full Text Available Since the REIT industry is relatively new in Singapore, the objective of this research is to examine the operation efficiency among firms in the industry through the method of Data Envelopment Analysis (DEA. In addition, the method of Tobit regression is applied to investigate the impact factors on efficiency. The results are as follows. First, none of 14 firms analyzed performs relatively efficiently based on the average efficiency scores over the sample periods of 2007 to first quarter of 2015. Nevertheless, it is found that First REIT and Suntec REIT are the most efficient and least efficient REITs respectively. Second, ROA is positively correlated to efficiency scores while the negative relationship is found with the debt ratio. Third, regarding property-type, retail REITSs perform better than commercial ones on average. However, the most efficient group is “others” which consists of one hospitality/residential REITs, one healthcare REITs, and three industrial REITs. Fourth, geographical diversification may not affect REIT’s efficiency. Meanwhile, REITs holding more properties overseas perform better than their counterparts on average. Last, in regards to size, small-size REITs significantly perform better in efficiency than those in other categories. Especially, medium-size and largesize REITs do not have significant differences on average in efficiency.

  8. EXPLORING TAX HOLIDAY POLICY IMPLEMENTATION FOR INDONESIAN INVESTMENT CLIMATE: HAS IT BEEN EFFECTIVE?

    Directory of Open Access Journals (Sweden)

    Mulyono R.D.P.

    2017-07-01

    Full Text Available This study aims to explore the reasons for the ineffectiveness of tax holiday policy implementation in Indonesia as well as the government’s strategies to improve the investment climate. This research uses exploratory study type which does not test theory or hypothesis by using preliminary survey method, conducting direct or indirect interview via e-mail to certain informant by giving questionnaire and direct observation passively observing the field and related websites supporting statistical data in this study in depth. In testing the validity of research data used source triangulation and method triangulation. The progress that has been achieved to date in the implementation of tax holiday policy is to provide ease of bureaucracy administration and simplicity of licensing services in investing by improving coordination among government to improve foreign investors' confidence when investing in Indonesia. So technically, the implementation of tax holiday policy is quite effective in attracting foreign direct investment because it can perform the right obligations according to the regulations. In the investment point of view, tax holiday policy is not effective in attracting foreign direct investment or not becoming the main factor of investor's goal in investment. The cause of the ineffectiveness of the tax holiday policy in attracting foreign direct investment in Indonesia is another indicator that becomes an assessment among others the ease of investment licensing, infrastructure, electricity supply, investor protection, minority and tax administration. Indonesian government's strategy to improve the investment climate is through deregulation, debureaucracy, law enforcement and business certainty for investors.

  9. An energy efficiency promotion strategy for industries and buildings in Thailand

    International Nuclear Information System (INIS)

    Vongsoasup, Sirinthorn; Du Pont, Peter

    2004-01-01

    Since 1992, when the Thai Parliament endorsed the Energy Conservation Promotion (ENCON) Act, the promotion of energy efficiency has been a cornerstone of Thailand's energy policy. The ENCON Act focuses on large commercial and industrial end users and is accompanied by a 'carrot' in the form of the Energy Conservation Promotion Fund (ENCON Fund), which provides financial incentives to install energy-efficiency measures. For the past several years, Thailand's Department of Alternative Energy Development and Efficiency (DEDE), the lead government agency implementing energy efficiency, has been reassessing its programs, simplifying the procedures, and improving its program promotion. In late 2002 and early 2003, Thailand launched two large-scale pilot programs. The 30% Subsidy Program provides rebates of up to USD 50,000 per facility to stimulate investment in energy-saving projects. This program has been remarkably successful, and allocated its entire budget of USD 2.5 million within the first 6 months of implementation. The average time for project approval is just 30 days. Every dollar of subsidy leverages 3.2 dollars in private sector investment and results in more than 16 dollars of energy cost savings over the lifetime of the equipment. The Energy Efficiency Revolving Fund is designed for larger projects and is administered directly by commercial banks. The fund is providing a total of USD 50 million of zero-interest loans to banks for lending at a low interest rate (< 4%) to commercial and industrial end users. Project investments are typically in the range of USD 400,000 to USD 800,000 million, with the maximum loan amount being USD 1.25 million. After one year of project implementation, USD 20 million has been loaned for energy-efficiency projects, of which USD 12 million has come from the Fund and USD 8 million from the bank's own funds. Implementation of these two pilot programs is providing the basis for the Thailand's newly created Ministry of Energy to

  10. Does automation improve stock market efficiency in Ghana ...

    African Journals Online (AJOL)

    The automation of the Ghana Stock Exchange (GSE) in 2008, among other reforms, was expected to improve the efficiency of the market. The extent of this truism has, however, not been empirically established for the GSE. In this study, we attempt to assess the impact of the automation on the efficiency of the GSE within the ...

  11. Integrated hospital emergency care improves efficiency.

    Science.gov (United States)

    Boyle, A A; Robinson, S M; Whitwell, D; Myers, S; Bennett, T J H; Hall, N; Haydock, S; Fritz, Z; Atkinson, P

    2008-02-01

    There is uncertainty about the most efficient model of emergency care. An attempt has been made to improve the process of emergency care in one hospital by developing an integrated model. The medical admissions unit was relocated into the existing emergency department and came under the 4-hour target. Medical case records were redesigned to provide a common assessment document for all patients presenting as an emergency. Medical, surgical and paediatric short-stay wards were opened next to the emergency department. A clinical decision unit replaced the more traditional observation unit. The process of patient assessment was streamlined so that a patient requiring admission was fully clerked by the first attending doctor to a level suitable for registrar or consultant review. Patients were allocated directly to specialty on arrival. The effectiveness of this approach was measured with routine data over the same 3-month periods in 2005 and 2006. There was a 16.3% decrease in emergency medical admissions and a 3.9% decrease in emergency surgical admissions. The median length of stay for emergency medical patients was reduced from 7 to 5 days. The efficiency of the elective surgical services was also improved. Performance against the 4-hour target declined but was still acceptable. The number of bed days for admitted surgical and medical cases rose slightly. There was an increase in the number of medical outliers on surgical wards, a reduction in the number of incident forms and formal complaints and a reduction in income for the hospital. Integrated emergency care has the ability to use spare capacity within emergency care. It offers significant advantages beyond the emergency department. However, improved efficiency in processing emergency patients placed the hospital at a financial disadvantage.

  12. When Investment in Basic Skills Gives Negative Returns

    Science.gov (United States)

    Billington, Mary Genevieve; Nissinen, Kari; Gabrielsen, Egil

    2017-01-01

    In recent years, the Norwegian government has invested heavily in improving basic skills in the adult population. Initiatives have included legislation, the introduction of work-based adult education programs, and reforms in schooling. In light of this investment, we explore trends in adult literacy and numeracy, by comparing data from two…

  13. A model for optimization of process integration investments under uncertainty

    International Nuclear Information System (INIS)

    Svensson, Elin; Stroemberg, Ann-Brith; Patriksson, Michael

    2011-01-01

    The long-term economic outcome of energy-related industrial investment projects is difficult to evaluate because of uncertain energy market conditions. In this article, a general, multistage, stochastic programming model for the optimization of investments in process integration and industrial energy technologies is proposed. The problem is formulated as a mixed-binary linear programming model where uncertainties are modelled using a scenario-based approach. The objective is to maximize the expected net present value of the investments which enables heat savings and decreased energy imports or increased energy exports at an industrial plant. The proposed modelling approach enables a long-term planning of industrial, energy-related investments through the simultaneous optimization of immediate and later decisions. The stochastic programming approach is also suitable for modelling what is possibly complex process integration constraints. The general model formulation presented here is a suitable basis for more specialized case studies dealing with optimization of investments in energy efficiency. -- Highlights: → Stochastic programming approach to long-term planning of process integration investments. → Extensive mathematical model formulation. → Multi-stage investment decisions and scenario-based modelling of uncertain energy prices. → Results illustrate how investments made now affect later investment and operation opportunities. → Approach for evaluation of robustness with respect to variations in probability distribution.

  14. Decentralization Policies for Supply Chain Investments under Asymmetric Information

    DEFF Research Database (Denmark)

    Agrell, Per Joakim; Bogetoft, Peter

    2017-01-01

    Supply chains need specific investments for improved performance in terms of lead-time, cost, and quality. We study the contractual choice of a coordinator to either centralize or delegate the investment decision in a three-stage chain. The analysis derives closed-form results for the economic...... performance of three decentralized contracting schemes under asymmetric information on investment cost, as well as the optimal full revelation results. The results show that the observed practice of tier-1 delegated investments leads to relatively poor performance because of underinvestment. We illustrate...

  15. Essays in Investment Theory

    International Nuclear Information System (INIS)

    Bobtcheff, C.

    2006-01-01

    This thesis analyzes different aspects of the investment decision. In the first chapter, we consider an economy in which different energy sources may produce electricity. The model focuses first on the optimal use of a hydroelectric dam from which water can be extracted and which is supplied with a random water flow. The presence of constraints on a minimal and on a maximal storage capacity makes electricity consumption smoothing possible only when the quantity of water available to the agent lies in a certain range that we determine. In a second stage, we introduce a second energy source with unlimited supply at some exogenous cost. The marginal propensity to produce hydroelectricity is an increasing function of the second technology cost. The availability at a low cost of the alternative source improves thus time diversification. Finally, the optimal electric park is composed of a number of dams that is increasing with the cost of the second technology. Chapter 2 studies the decision of an investor who wants to undertake an irreversible investment when he has the choice between two mutually exclusive projects that present input price and/or output price uncertainty. We prove that the investor decides not to invest in any project when each investment generates the same payoff independently of its size. Therefore, some inaction region appears in which the investor prefers not to invest whereas an immediate investment would have been optimal if no choice had been available: a 'choice value' is thus created. A key feature of this bidimensional degree of uncertainty is thus that the payoff generated by each project is not a sufficient statistic to make a rational investment. In this context, our analysis provides a new motive for waiting to invest: the benefits associated with the dominance of one project over the other. In chapter 3, we study the investment decision problem of a duo-poly with price competition on a market of finite size driven by stochastic taste

  16. In-depth analysis on R and D investment and strategy on PV in South Korea

    International Nuclear Information System (INIS)

    Park, Noeon; Lee, Ki Jong; Lee, Kyong Jae; Lee, Yun Jie; Lee, Kyoungmi; Lee, Sang Hyon

    2013-01-01

    Photovoltaics (PV) is an eco-friendly and green technology, as a renewable energy source, with the aim of minimizing carbon dioxide emission into the atmosphere. The Korean government has financed various domestic installations as well as research and development (R and D) programs to enter and develop a lead in the worldwide PV market. In this study, R and D investments in the area of PV are analyzed in terms of the respective ministry, performer, research characteristics, PV materials and output levels in detail. The Korean government in the Fiscal year (FY) 2010 provided $178 million dollars from R and D funds for PV development. 74% of the R and D funds in the context of PV has been invested by the Ministry of Knowledge Economy (MKE). Expenditures for R and D programs in terms of PV are mainly funded by small-medium companies (40%), and the portion of the R and D investment in crystalline silicon solar cells is the highest in terms of materials. In spite of the high levels of R and D investment in PV, the output for commercialization was relatively lower compared to the R and D input in FY 2009–2010. With these results, we suggested to develop various solutions to improve the R and D investment efficiency for PV technology in Korea

  17. WAYS OF INCREASE OF EFFICIENCY OF BUILDING OBJECTS OF AGRARIAN AND INDUSTRIAL COMPLEX IN RURAL ZONE

    Directory of Open Access Journals (Sweden)

    A. M. Abdulgalimov

    2014-01-01

    Full Text Available Suggested ways to improve the economic efficiency of investments in the construction of agro-industrial facilities in rural areas, allows them to increase the level of employment of the rural population, improving sew infrastructure economic activity in rural areas, to strengthen the management system of rural settlement and, most importantly, to improve the quality of life in rural areas. 

  18. Investment Activities within the Legal Framework of the World Trade Organization

    Directory of Open Access Journals (Sweden)

    Gulnara Ruchkina

    2015-01-01

    Full Text Available This article contains an analysis of legal regulation of investment activities within the framework of the WTO. It considers factors that promote the establishment of a favorable investment climate, including the availability of special legislation, an efficient law enforcement practice and, as noted by many experts, availability and clarity of the judicial mechanism for the protection of violated rights. Recent foreign experience is analyzed and some issues of investment dispute settlement are considered. The article also deals with issues concerning the formation of competitive relations that, in their turn, also constitute an important factor of a state’s investment appeal.Investment activities constitute a popular type of entrepreneurial activity. Every state, regardless of where it is located or its level of economic development, aims to increase its investment activities and raise foreign investment inflow. To do this they adopt national regulatory acts and sign bilateral agreements, multilateral agreements, and execute international legal acts in the area of investment activities. This results in the need for examination of legal regulation in this area. Russia joining the WTO has resulted in regular revisions of current legal regulation, in particular in the law on foreign investments.

  19. Why it makes more sense to invest in farmers than in farmland

    Energy Technology Data Exchange (ETDEWEB)

    Cotula, Lorenzo

    2010-07-15

    Two years since the media spotlight turned on the so-called 'land grab' – whereby agribusiness, investment funds and government agencies acquire farmland in Africa, Latin America and Asia – the debate rages on. And rightly so. Private sector expectations of higher food and commodity prices and government concerns about longer-term food and energy security have made land a more attractive asset. But land is central to livelihoods, culture and identity for millions across the developing world. And large-scale land acquisitions can have lasting repercussions for the future of agriculture, including both agribusiness and family farming. Rather than rushing into land deals, governments and investors should properly consider the wider range of options to invest in agriculture. In many parts of the world, family farmers have proved efficient and dynamic. Working with them can generate healthy returns, avoid the risks associated with land acquisitions, and improve farmers' livelihoods.

  20. Chalenges and opportunities brought by foreign direct investments in Brazil

    Directory of Open Access Journals (Sweden)

    Eveline Barbosa Silva Carvalho

    2008-01-01

    Full Text Available This paper analyzes the challenges and opportunities brought by foreign direct investment in general and in Brazil particularly. The study is based on literature review and statistical data show that foreign direct investments have important effects on the business environment of the host country as they bring productivity improvement, formal employment and income generation, increase on the export level, establishment of firms with high innovation standards and the capacity to improve the quality of national products, with some degree of technology diffusion, increases in the network of suppliers and possible buyers, and the introduction of new strategies of business management, logistics as well as other ways of modernizing industrial structures. It concludes that the major benefits from foreign direct investments are the change on local companies strategies. The study also shows that investments are concentrated on most developed areas and that there is no specific strategy for investment attraction to the less economically favored areas of Brazil.

  1. The economics of natural gas infrastructure investments. Theory and model-based analysis for Europe

    Energy Technology Data Exchange (ETDEWEB)

    Lochner, Stefan

    2012-07-01

    Changing supply structures, security of supply threats and efforts to eliminate bottlenecks and increase competition in the European gas market potentially warrant infrastructure investments. However, which investments are actually efficient is unclear. From a theoretical perspective, concepts from other sectors regarding the estimation of congestion cost and efficient investment can be applied - with some extensions - to natural gas markets. Investigations in a simple analytical framework, thereby, show that congestion does not necessarily imply that investment is efficient, and that there are multiple interdependencies between investments in different infrastructure elements (pipeline grid, gas storage, import terminals for liquefied natural gas (LNG)) which need to be considered in an applied analysis. Such interdependencies strengthen the case for a model-based analysis. An optimization model minimizing costs can illustrate the first-best solution with respect to investments in natural gas infrastructure; gas market characteristics such as temperature-dependent stochasticity of demand or the lumpiness of investments can be included. Scenario analyses help to show the effects of changing the underlying model presumption. Hence, results are projections subject to data and model assumption - and not forecasts. However, as they depict the optimal, cost-minimizing outcome, results provide a guideline to policymakers and regulators regarding the desirable market outcome. A stochastic mixed-integer dispatch and investment model for the European natural gas infrastructure is developed as an optimization model taking the theoretical inter-dependencies into account. It is based on an extensive infrastructure database including long-distance transmission pipelines, LNG terminals and gas storage sites with a high level of spatial granularity. It is parameterized with assumptions on supply and demand developments as well as empirically derived infrastructure extension costs

  2. Management of investment processes on Finnish farms

    Directory of Open Access Journals (Sweden)

    T. MATTILA

    2008-12-01

    Full Text Available Structural change in agriculture means a continuous need for investing in farm production. It is essential for the sustainable operations and the economy of the farm that such investments are successful. In this research, different stages of the investment process of farms were studied as well as the use of information and the success perceived during the investment process. The study was carried out with mail surveys and telephone interviews on the Finnish Farm Accountancy Data Network (FADN farms. The most challenging investments were in animal husbandry buildings and, as to these investments, the comparison of alternatives was the most challenging stage. For most investments, the planning phase was considered more challenging than the implementation. Before making the decision, farmers acquired information from many sources, of which the opinion of the main customer and the experiences of fellow farmers were the most valued. Some of the products considered were so new on the market that it was not easy to get adequate information and, furthermore, the information given by suppliers was not always accurate. Decision-making was supported by calculations, but qualitative factors had a dominating role. Large basic decisions were made relatively quickly, while details needed a longer time to process. In general, farm managers were satisfied with their investments. Improvements in work quality and quantity were especially mentioned and generally qualitative factors were the ones first in mind when evaluating the successfulness of the investment.;

  3. Improving biological efficiency of Oyster mushroom, Pleurotus ...

    African Journals Online (AJOL)

    International Journal of Biological and Chemical Sciences ... Yield improvement were observed in both pigeon pea and sunflower seed cake supplemented treatments with the highest mycelium vigor (91.65%) and biological ... Keywords: biological efficiency, compost, mycelium vigor, pigeon pea, sunflower seed cake

  4. Direct and indirect co-benefits from energy-efficient residential buildings - Appendix

    International Nuclear Information System (INIS)

    Ott, W.; Baur, M.; Jakob, M.

    2006-01-01

    Co-benefits of energy efficiency investments such as increased comfort of living, reduced noise exposure, and improved indoor air quality are of considerable evidence. However in investment decisions these co-benefits are rarely taken into account. Using various economic estimation methods (discrete choice, hedonic regression, contingent valuation), this study identifies and quantifies in monetary terms the most important co-benefits of energy efficiency measures. The results show that regarding energy efficiency measures, comfort of living plays a major role and that inhabitants express a non-negligible willingness to pay for it. The willingness to pay is larger than the costs of the energy efficiency measures in most cases and for a large part of the population. To utilise this willingness to pay in the market place it is necessary to establish transparency regarding comfort of living aspects and to raise awareness about these aspect among all involved actors (inhabitants, investors, architects, planners, promoters, vendors) by adequate information and communication measures. In view of the high relevance and the noticed economic valuation of the qualitative co-benefits energy efficiency measures have to be promoted with their related enhancements in terms of comfort of living. (author)

  5. FACTORS DETERMINING THE INVESTMENT ATTRACTIVENESS OF THE REGION

    Directory of Open Access Journals (Sweden)

    O. I. Avtsinov

    2014-01-01

    Full Text Available Summary.In the article we can see relevance of the research aimed at creating a favorable investment climate in the country and its regions, as a necessary condition for solving the problems of modernization of industrial production, the introduction of scientific and technological progress in all spheres of public life, the implementation of large-scale social and productive programs. In the study we justify the theoretical principles and reveal the essence of the relationship concepts: investment climate, investment attractiveness and investment activity. It is proved that the investment attractiveness should be considered as a sign of factorial and important component of the investment climate in the region, and investment activity as a sign score. In the study we can see a wide range of factors shaping favorable conditions for investment activities. The author focuses on the importance of non-traditional factors shaping the investment attractiveness of such as reducing the time to connect to power grid, information communication, improvement of tax reporting procedures, clarity of customs work, the introduction of regulations for obtaining permits for construction of facilities and reducing the number of required documents. This article analyzes of the indices and the key factors of investment attractiveness of the Voronezh region, which attract investment, exceeding the national average. The main ones are the development of new industrial parks with good transport, engineering, business infrastructure. Investors in the region have favorable conditions to carry on business on the prepared sites with painted communications, junctions, allowing them to reduce production costs, while correspondingly increasing the investment attractiveness of the area. Success of the attracting investment in the Voronezh region is largely due to the introduction standard of the executive bodies of state power, including 15 documents designed to make the

  6. Effect of business regulation on investment in emerging market economies

    Directory of Open Access Journals (Sweden)

    Birungi Korutaro

    2013-01-01

    Full Text Available This paper provides an empirical analysis of the business regulatory factors that influence investment in a selection of 29 emerging market economies. Both theoretical and empirical literature on the effect of the regulatory environment on investment is reviewed. A panel data analysis over the period 2003–2007 reveals that investment is influenced by secure property rights and the degree of business entry regulation. The results carry important policy implications for improving the investment climate of emerging market economies.

  7. Bridging the industrial energy efficiency gap – Assessing the evidence from the Italian white certificate scheme

    International Nuclear Information System (INIS)

    Stede, Jan

    2017-01-01

    The Italian white certificate scheme is the main national policy instrument to incentivise energy efficiency of the industrial sector, with savings from white certificates amounting to 2% of Italy's 2012 primary energy consumption. The mechanism sets binding energy-saving targets on electricity and gas distributors with at least 50,000 clients and includes a voluntary opt-in model for participation from other parties. This paper investigates and assesses the elements of the scheme that help overcome several barriers to deliver industrial energy efficiency. Results from a survey conducted among leading experts indicate that the Italian system provides a strong financial incentive to energy efficiency investments, covering a significant share of investment costs and thus reducing payback time. Moreover, the scheme fosters the development of energy service companies (ESCOs), which are key to developing, installing and arranging finance for projects on the ground. In conjunction with other policies, the mechanism also raises awareness of energy efficiency investment opportunities, thus helping overcome the market failure of insufficient information. Core challenges remain, including tackling regulatory uncertainty and improving access to finance. - Highlights: • Due to a strong monetary incentive, energy savings are mainly achieved in industry. • White certificates cover around 25 per cent of investment costs in Italian industry. • Active energy services sector with >100 energy service companies built from scratch. • Tackling regulatory uncertainty is the key challenge.

  8. Driving Demand for Home Energy Improvements: Motivating residential customers to invest in comprehensive upgrades that eliminate energy waste, avoid high utility bills, and spur the economy

    Energy Technology Data Exchange (ETDEWEB)

    Fuller, Merrian C.

    2010-09-20

    Policy makers and program designers in the U.S. and abroad are deeply concerned with the question of how to scale up energy efficiency to a level that is commensurate both to the scale of the energy and climate challenges we face, and to the potential for energy savings that has been touted for decades. When policy makers ask what energy efficiency can do, the answers usually revolve around the technical and economic potential of energy efficiency - they rarely hone in on the element of energy demand that matters most for changing energy usage in existing homes: the consumer. A growing literature is concerned with the behavioral underpinnings of energy consumption. We examine a narrower, related subject: How can millions of Americans be persuaded to divert valued time and resources into upgrading their homes to eliminate energy waste, avoid high utility bills, and spur the economy? With hundreds of millions of public dollars flowing into incentives, workforce training, and other initiatives to support comprehensive home energy improvements, it makes sense to review the history of these programs and begin gleaning best practices for encouraging comprehensive home energy improvements. Looking across 30 years of energy efficiency programs that targeted the residential market, many of the same issues that confronted past program administrators are relevant today: How do we cost-effectively motivate customers to take action? Who can we partner with to increase program participation? How do we get residential efficiency programs to scale? While there is no proven formula - and only limited success to date with reliably motivating large numbers of Americans to invest in comprehensive home energy improvements, especially if they are being asked to pay for a majority of the improvement costs - there is a rich and varied history of experiences that new programs can draw upon. Our primary audiences are policy makers and program designers - especially those that are relatively

  9. Options to improve energy efficiency for educational building

    Science.gov (United States)

    Jahan, Mafruha

    The cost of energy is a major factor that must be considered for educational facility budget planning purpose. The analysis of energy related issues and options can be complex and requires significant time and detailed effort. One way to facilitate the inclusion of energy option planning in facility planning efforts is to utilize a tool that allows for quick appraisal of the facility energy profile. Once such an appraisal is accomplished, it is then possible to rank energy improvement options consistently with other facility needs and requirements. After an energy efficiency option has been determined to have meaningful value in comparison with other facility planning options, it is then possible to utilize the initial appraisal as the basis for an expanded consideration of additional facility and energy use detail using the same analytic system used for the initial appraisal. This thesis has developed a methodology and an associated analytic model to assist in these tasks and thereby improve the energy efficiency of educational facilities. A detailed energy efficiency and analysis tool is described that utilizes specific university building characteristics such as size, architecture, envelop, lighting, occupancy, thermal design which allows reducing the annual energy consumption. Improving the energy efficiency of various aspects of an educational building's energy performance can be complex and can require significant time and experience to make decisions. The approach developed in this thesis initially assesses the energy design for a university building. This initial appraisal is intended to assist administrators in assessing the potential value of energy efficiency options for their particular facility. Subsequently this scoping design can then be extended as another stage of the model by local facility or planning personnel to add more details and engineering aspects to the initial screening model. This approach can assist university planning efforts to

  10. IMPROVING TACONITE PROCESSING PLANT EFFICIENCY BY COMPUTER SIMULATION, Final Report

    Energy Technology Data Exchange (ETDEWEB)

    William M. Bond; Salih Ersayin

    2007-03-30

    This project involved industrial scale testing of a mineral processing simulator to improve the efficiency of a taconite processing plant, namely the Minorca mine. The Concentrator Modeling Center at the Coleraine Minerals Research Laboratory, University of Minnesota Duluth, enhanced the capabilities of available software, Usim Pac, by developing mathematical models needed for accurate simulation of taconite plants. This project provided funding for this technology to prove itself in the industrial environment. As the first step, data representing existing plant conditions were collected by sampling and sample analysis. Data were then balanced and provided a basis for assessing the efficiency of individual devices and the plant, and also for performing simulations aimed at improving plant efficiency. Performance evaluation served as a guide in developing alternative process strategies for more efficient production. A large number of computer simulations were then performed to quantify the benefits and effects of implementing these alternative schemes. Modification of makeup ball size was selected as the most feasible option for the target performance improvement. This was combined with replacement of existing hydrocyclones with more efficient ones. After plant implementation of these modifications, plant sampling surveys were carried out to validate findings of the simulation-based study. Plant data showed very good agreement with the simulated data, confirming results of simulation. After the implementation of modifications in the plant, several upstream bottlenecks became visible. Despite these bottlenecks limiting full capacity, concentrator energy improvement of 7% was obtained. Further improvements in energy efficiency are expected in the near future. The success of this project demonstrated the feasibility of a simulation-based approach. Currently, the Center provides simulation-based service to all the iron ore mining companies operating in northern

  11. Improving the Efficiency of Solid State Light Sources

    International Nuclear Information System (INIS)

    Joanna McKittrick

    2003-01-01

    This proposal addresses the national need to develop a high efficiency light source for general illumination applications. The goal is to perform research that would lead to the fabrication of a unique solid state, white-emitting light source. This source is based on an InGaN/GaN UV-emitting chip that activates a luminescent material (phosphor) to produce white light. White-light LEDs are commercially available which use UV from a GaN chip to excite a phosphor suspended in epoxy around the chip. Currently, these devices are relatively inefficient. This research will target one technical barrier that presently limits the efficiency of GaN based devices. Improvements in efficiencies will be achieved by improving the internal conversion efficiency of the LED die, by improving the coupling between the die and phosphor(s) to reduce losses at the surfaces, and by selecting phosphors to maximize the emissions from the LEDs in conversion to white light. The UCSD research team proposes for this project to develop new phosphors that have high quantum efficiencies that can be activated by the UV-blue (360-410 nm) light emitted by the GaN device. The main goal for the UCSD team was to develop new phosphor materials with a very specific property: phosphors that could be excited at long UV-wavelengths (λ=350-410 nm). The photoluminescence of these new phosphors must be activated with photons emitted from GaN based dies. The GaN diodes can be designed to emit UV-light in the same range (λ=350-410 nm). A second objective, which is also very important, is to search for alternate methods to fabricate these phosphors with special emphasis in saving energy and time and reduce pollution

  12. Method for calculating annual energy efficiency improvement of TV sets

    International Nuclear Information System (INIS)

    Varman, M.; Mahlia, T.M.I.; Masjuki, H.H.

    2006-01-01

    The popularization of 24 h pay-TV, interactive video games, web-TV, VCD and DVD are poised to have a large impact on overall TV electricity consumption in the Malaysia. Following this increased consumption, energy efficiency standard present a highly effective measure for decreasing electricity consumption in the residential sector. The main problem in setting energy efficiency standard is identifying annual efficiency improvement, due to the lack of time series statistical data available in developing countries. This study attempts to present a method of calculating annual energy efficiency improvement for TV set, which can be used for implementing energy efficiency standard for TV sets in Malaysia and other developing countries. Although the presented result is only an approximation, definitely it is one of the ways of accomplishing energy standard. Furthermore, the method can be used for other appliances without any major modification

  13. Method for calculating annual energy efficiency improvement of TV sets

    Energy Technology Data Exchange (ETDEWEB)

    Varman, M. [Department of Mechanical Engineering, University of Malaya, Lembah Pantai, 50603 Kuala Lumpur (Malaysia); Mahlia, T.M.I. [Department of Mechanical Engineering, University of Malaya, Lembah Pantai, 50603 Kuala Lumpur (Malaysia)]. E-mail: indra@um.edu.my; Masjuki, H.H. [Department of Mechanical Engineering, University of Malaya, Lembah Pantai, 50603 Kuala Lumpur (Malaysia)

    2006-10-15

    The popularization of 24 h pay-TV, interactive video games, web-TV, VCD and DVD are poised to have a large impact on overall TV electricity consumption in the Malaysia. Following this increased consumption, energy efficiency standard present a highly effective measure for decreasing electricity consumption in the residential sector. The main problem in setting energy efficiency standard is identifying annual efficiency improvement, due to the lack of time series statistical data available in developing countries. This study attempts to present a method of calculating annual energy efficiency improvement for TV set, which can be used for implementing energy efficiency standard for TV sets in Malaysia and other developing countries. Although the presented result is only an approximation, definitely it is one of the ways of accomplishing energy standard. Furthermore, the method can be used for other appliances without any major modification.

  14. The Efficiency Potential of ICT in Haulier Operations

    DEFF Research Database (Denmark)

    Sternberg, Henrik; Prockl, Günter; Holmström, Jan

    2014-01-01

    What is the efficiency potential of Information Communication Technology (ICT) in haulier operations? Previous literature has focused on the aggregated level benefits that could be achieved once a large proportion of hauliers have introduced ICT in their trucks. In reality, hauliers are only ready...... to invest in technologies that generate business benefits, yet there is a gap in the literature regarding the linking of technology to the actual efficiency improvement of hauliers. The purpose of this paper is to address this gap and consider the potential of ICT to improve the activities in road freight...... transportation. The focus is on the individual driver, and the level of analysis is the truck and driver activities. We have chosen time as the primary measure of efficiency. We carried out three parallel research steps over a five-year period. The first was a literature review on the potential effects of using...

  15. DEVELOPMENT POLICY AND INVESTMENT PROJECTS ASSESSMENT IN THE SECTOR OF SME IN SERBIA

    OpenAIRE

    JUGOSLAV ANIČIĆ; DUŠAN ANIČIĆ; DALIBOR PAVLOVIĆ; RATKO GARIĆ; VESNA PETROVIĆ

    2016-01-01

    The problems of rational investing, in other words efficient planning and realization of investment projects, are among key problems in development of every enterprise. For successful realization of business plans, enterprise should make use of its internal strengths and available resources from surroundings, and turn them into its competitive advantage. Small and medium enterprises in Serbia are facing low liquidity and a lack of their own funds for investing into long-term and d...

  16. To invest efficiently for a successful energy transition

    International Nuclear Information System (INIS)

    Beutier, Didier

    2017-01-01

    As the primary objective of any energy policy is now to reduce carbon dioxide emissions, i.e. to reduce the consumption of all carbonated fuels (coal, oil, gas) in all sectors, and to substitute them with electricity produced from nuclear and renewable sources, and all this under a double constraint (that of consumers, and that of public finances), this article aims at discussing whether the French policy defined by the law on energy transition for a green growth is able to face and meet these priorities. The author outlines that the struggle against greenhouse gas emissions in France mainly concerns the transport and heating sectors. He discusses drawbacks associated with a transition mainly focussed on electric power generation by wind and solar energy: these drawbacks concern the required and actual production level, necessary high investments, and the protection of the environment. He proposes four areas of development for a successful transition: electric transport, energy storage, power-to-gas conversion, and housing thermal insulation

  17. MULTINATIONAL COMPANIES AND FOREIGN DIRECT INVESTMENT

    Directory of Open Access Journals (Sweden)

    Lucia P. BLĂJUȚ

    2014-11-01

    Full Text Available This paper highlights the significant share of multinational companies in international trade that are a factor of developing global economies. In the context of economic globalization the activity of multinational companies and their foreign direct investment have a strong impact on the host country which presents advantages and disadvantages for them. The main objective of this article is the review of the important role played by multinationals in economic development, especially in developed economies. In the economies in which they operate, they bring capital, technology transfer, improve the national reputation and influence the other companies to invest in this countries, they provide a substantial source of revenue for the government and always improve the balance of payments in the host country.

  18. Central European attitudes towards Chinese energy investments: The cases of Poland, Slovakia, and the Czech Republic

    International Nuclear Information System (INIS)

    Turcsanyi, Richard Q.

    2017-01-01

    This article builds on Europe-wide knowledge of EU-China energy investment relations and discusses the cases of three Central European countries’ attitudes towards Chinese energy investments. It focuses on how Chinese investments are perceived compared to investments from other countries, and how the energy sector is perceived compared to other sectors. Media analysis, interviews with experts, and semi-structured questionnaires were used as data sources. It was discovered that these three countries dislike foreign control over strategic assets and Chinese energy investments are seen as falling into this category. The discourse frames on the general level fluctuate between beneficial and threatening at both the political and economic levels, yet the benefits are seen as greater than any potential threats in all three countries. Energy security frames are only just beginning to be discussed within national discourses about Chinese energy investments. In Poland, the Chinese presence in the energy sector is framed as an issue of availability, affordability, and efficiency, and is related to Polish plans for maximizing efficient use of local coal resources. In the Czech Republic and Slovakia, China is often perceived ideologically and only the energy frame of environmental stewardship is present in a minor way. - Highlights: • Chinese investments in energy are perceived more negatively than investments in other sectors due to their strategic nature. • Availability, affordability, and efficiency appear in Poland as a result of the special position of coal. • Environmental stewardship appears as an issue in Slovakia and the Czech Republic. • The Polish discourse is most similar to Europe-wide discourse.

  19. Variable cross-section windings for efficiency improvement of electric machines

    Science.gov (United States)

    Grachev, P. Yu; Bazarov, A. A.; Tabachinskiy, A. S.

    2018-02-01

    Implementation of energy-saving technologies in industry is impossible without efficiency improvement of electric machines. The article considers the ways of efficiency improvement and mass and dimensions reduction of electric machines with electronic control. Features of compact winding design for stators and armatures are described. Influence of compact winding on thermal and electrical process is given. Finite element method was used in computer simulation.

  20. Scaling production and improving efficiency in DEA: an interactive approach

    Science.gov (United States)

    Rödder, Wilhelm; Kleine, Andreas; Dellnitz, Andreas

    2017-10-01

    DEA models help a DMU to detect its (in-)efficiency and to improve activities, if necessary. Efficiency is only one economic aim for a decision-maker; however, up- or downsizing might be a second one. Improving efficiency is the main topic in DEA; the long-term strategy towards the right production size should attract our attention as well. Not always the management of a DMU primarily focuses on technical efficiency but rather is interested in gaining scale effects. In this paper, a formula for returns to scale (RTS) is developed, and this formula is even applicable for interior points of technology. Particularly, technical and scale inefficient DMUs need sophisticated instruments to improve their situation. Considering RTS as well as efficiency, in this paper, we give an advice for each DMU to find an economically reliable path from its actual situation to better activities and finally to most productive scale size (mpss), perhaps. For realizing this path, we propose an interactive algorithm, thus harmonizing the scientific findings and the interests of the management. Small numerical examples illustrate such paths for selected DMUs; an empirical application in theatre management completes the contribution.

  1. Investment in electricity for development. Chapter 5

    International Nuclear Information System (INIS)

    2007-01-01

    In this short chapter, we discuss first the role of reliable and affordable electricity in underpinning economic development and in enabling the achievement of the MDGs in health and education. We then review some estimates of investment requirements for energy needs in sub Saharan Africa. In the next section we discuss briefly how financing sources for investment in the sector in sub-Saharan Africa are constrained. In the main and final section we list priority policies, which, if implemented, can help overcome these constraints so that increased amounts of investment begin to flow into the sector, resulting in the desired improvement in electricity services

  2. Russian energy efficiency projects: lessons learnt from Activities Implemented Jointly pilot phase

    International Nuclear Information System (INIS)

    Korppoo, Anna

    2005-01-01

    Russia needs to improve the efficiency of energy. Failure to do so will retard the economic recovery of the country, but the energy sector is lacking both domestic and foreign investments. JI projects could provide the underfinanced Russian energy sector with additional investments. AIJ pilot project experiences provide an overview of the potential difficulties for future JI projects. Institutional problems were the most important category. Most of these problems remain, and the lack of ratification of the Kyoto Protocol by Russia has formed a new very significant barrier. Implementation level problems caused some problems to AIJ projects, but they are likely to have less impact on the better prepared JI projects. The character of funding-related problems has changed: for AIJ projects the main problem was that emission reductions could not be credited, whereas future JI projects will experience more competition in the Kyoto market where the overall investment climate and the availability of local cofunding are more relevant. Therefore, the unfinished economic and energy sector reforms currently discourage JI investments. The project experiences so far have been dismal, and if Russian policy-makers cannot improve this performance, only few JI projects can be expected in the future

  3. Are Foreign Investments Replacing Domestic Investments? - Evidence from Finnish Manufacturing

    OpenAIRE

    Oksanen, Olli-Pekka

    2006-01-01

    This study analyses the relationship between firms’ foreign and domestic investments using a panel dataset containing 218 Finnish manufacturing firms during the years 1998-2002. The study examines whether foreign investments increase or decrease domestic investments and whether the effect varies between investments directed to developed markets or emerging markets. Financial constraints’ effect on the relationship is also investigated. The empirical part estimates an empirical investment equa...

  4. Theoretical Explanations of Environmental Motivations and Expectations of Clients on Green Building Demand and Investment

    International Nuclear Information System (INIS)

    Joachim, Onuoha Iheanyichukwu; Kamarudin, Norhaya; Aliagha, Godwin Uche; Ufere, Kalu Joseph

    2015-01-01

    In building industry, green demand and investment creates a positive footprint on the environment. However, these environmental opportunities have not been adequately harnessed and explored by Clients of green building apparently because of poor understanding of the motivating drivers and benefits accruing from green building demand and investment. The decision to demand for or invest in green building is influenced by certain environmental motivating drivers and expectations which have not been fully examined by researchers and not well understood by stakeholders. Based on the Theory of Planned Behaviour (TPB) and Theory of Value Belief Norm (VBN) explanations, this study focused on the Clients, purchasers and users' motivations and intentions to go for green building. Based on the reviewed theories, we hypothesized that environmental motivations and expectations for green building demand and investment are embedded in the environmental quest for protection of eco-system and bio-diversity, improvement of water and air quality, reduction of solid waste, conservation of natural resources, reduction of societal costs of landfill creation and maintenance, minimization of site impact and reduction emission to air and enhanced energy efficiency. However, the predictive validity of these propositions depends on the client's beliefs, values, social pressure, and perceived behavioural control

  5. Simulations of the potential revenue from investment in improved indoor air quality in an office building

    DEFF Research Database (Denmark)

    Wargocki, Pawel; Djukanovic, Rade

    2005-01-01

    of improved worker performance; benefits from reduced health costs and sickness absence were not included. The building was simulated in a cold, a moderate and a hot climate. It was ventilated by a constant air volume (CAV) system with heat recovery and by a variable air volume (VAV) system with an economizer....... The air quality was improved by increasing the outdoor air supply rate and by reducing the pollution loads. These upgrades involved increased energy and HVAC maintenance costs, first costs of a HVAC system and building construction costs. But the additional investments were highly cost......-effective. The annual benefit due to improved air quality was up to 115 times higher than the increase in annual energy and maintenance costs. LCC analysis showed that productivity benefits resulting from a better indoor air quality were up to 60 times higher than the increased costs; the simple and discounted pay...

  6. Developing 2 C-compatible investment criteria

    Energy Technology Data Exchange (ETDEWEB)

    Roeser, Frauke [NewClimate - Institute for Climate Policy and Global Sustainability gGmbH, Bonn (Germany); Weischer, Lutz [Germanwatch e.V., Koeln (Germany); Thomae, Jakob [2degrees Investing Initiative, New York, NY (United States); Hoehne, Niklas; Hagemann, Markus; El Alaoui, Alexander; Bals, Christoph; Eckstein, David; Kreft, Soenke; Rosse, Morten

    2015-11-30

    This report studies the development of criteria for assessing the compatibility of financial investments with the international goal to limit global temperature increase to below 2 C above pre-industrial levels. The findings are intended as a starting point and a key input for a longer term process to develop consensus-based 2 C investing criteria. The focus here is placed on investments in projects and physical assets, in particular of development and climate finance organisations. In order to limit global temperature increase to 2 C, global greenhouse gas (GHG) emissions will have to be reduced significantly, eventually to zero, during the course of this century. This requires shifting capital from high to low carbon investments as well as significant capital mobilisation for investments in 2 C-compatible infrastructure. Given the long lifetime of physical assets, and the urgency of decarbonisation over the coming decades, this needs to begin today. Public financial institutions can play a prominent role in contributing to aligning investment flows with the 2 C limit, as well as in closing the current infrastructure investment gap, responding to their explicit or implicit climate mandates and leadership role in the finance sector. The majority of international financial institutions integrate climate considerations into their finance decisions to some degree, and are familiar with different types of criteria, including positive and negative lists, qualitative and quantitative benchmarks, and the use of shadow carbon pricing. However, current approaches do not link to the 2 C limit. 2 C investment criteria are therefore needed to guide investors in this regard. Such criteria may also support other purposes, including an understanding of climate risks and improved reporting and accountability.

  7. Developing 2 C-compatible investment criteria

    International Nuclear Information System (INIS)

    Roeser, Frauke; Weischer, Lutz; Thomae, Jakob; Hoehne, Niklas; Hagemann, Markus; El Alaoui, Alexander; Bals, Christoph; Eckstein, David; Kreft, Soenke; Rosse, Morten

    2015-01-01

    This report studies the development of criteria for assessing the compatibility of financial investments with the international goal to limit global temperature increase to below 2 C above pre-industrial levels. The findings are intended as a starting point and a key input for a longer term process to develop consensus-based 2 C investing criteria. The focus here is placed on investments in projects and physical assets, in particular of development and climate finance organisations. In order to limit global temperature increase to 2 C, global greenhouse gas (GHG) emissions will have to be reduced significantly, eventually to zero, during the course of this century. This requires shifting capital from high to low carbon investments as well as significant capital mobilisation for investments in 2 C-compatible infrastructure. Given the long lifetime of physical assets, and the urgency of decarbonisation over the coming decades, this needs to begin today. Public financial institutions can play a prominent role in contributing to aligning investment flows with the 2 C limit, as well as in closing the current infrastructure investment gap, responding to their explicit or implicit climate mandates and leadership role in the finance sector. The majority of international financial institutions integrate climate considerations into their finance decisions to some degree, and are familiar with different types of criteria, including positive and negative lists, qualitative and quantitative benchmarks, and the use of shadow carbon pricing. However, current approaches do not link to the 2 C limit. 2 C investment criteria are therefore needed to guide investors in this regard. Such criteria may also support other purposes, including an understanding of climate risks and improved reporting and accountability.

  8. Efficiency Improvement and Quality Initiatives Application in Financial Institutions

    Directory of Open Access Journals (Sweden)

    MSc. Ajtene Avdullahi

    2015-06-01

    Full Text Available Financial institutions in today’s economy have no longer the luxury to improve profit simply by increasing revenue. These firms, due to the significant measuring reductions in the financial services industry needed to improve operational efficiencies and merely support existing processes with fewer resources. This paper explains the benefits of Lean, Six Sigma, Total Quality Management and Lean Six Sigma that have improved organization's performance, by cutting costs and waste, improving their products or services, increasing profitability as well as enhancing customer satisfaction. The applicability of quality management practices in financial institutions in Kosovo is presented and also their efficiency and effectiveness. By analyzing data from Raiffeisen Bank Kosovo, this paper highlights the benefits of Individual and Micro companies customer segment as the result of organizational change and successful application of quality initiatives from financial institutions in Kosovo.

  9. Performance Evaluation of Investment (Mutual Funds

    Directory of Open Access Journals (Sweden)

    Povilas Vyšniauskas

    2014-12-01

    Full Text Available The efficiency of an investment fund is one of the main components in evaluating the performance of the fund. This study seeks for introducing and comparing risk and performance evaluation ratios. The paper is aimed at testing the worked out ratios and at distinguishing between the best ones for the purpose of evaluating the performance of Lithuanian mutual funds. Scientific studies show that a standard deviation, alpha, beta, Sharpe and Treynor ratios are mostly employed for identifying the performance of mutual funds that are also compared with their benchmark index to establish if these funds are outperformed and if is it worth paying management fees to investment banks for managing mutual funds. Historical data were selected for the period from 2012-01-02 to 2013-10-15 analysing the prices of monthly funds. The paper points out the areas of a practical application of the proposed model for investment fund valuation, which may not only provide valuable outcomes for practitioners but also may inspire further research on this article.

  10. Why invest, and what it will take to improve breastfeeding practices?

    Science.gov (United States)

    Rollins, Nigel C; Bhandari, Nita; Hajeebhoy, Nemat; Horton, Susan; Lutter, Chessa K; Martines, Jose C; Piwoz, Ellen G; Richter, Linda M; Victora, Cesar G

    2016-01-30

    Despite its established benefits, breastfeeding is no longer a norm in many communities. Multifactorial determinants of breastfeeding need supportive measures at many levels, from legal and policy directives to social attitudes and values, women's work and employment conditions, and health-care services to enable women to breastfeed. When relevant interventions are delivered adequately, breastfeeding practices are responsive and can improve rapidly. The best outcomes are achieved when interventions are implemented concurrently through several channels. The marketing of breastmilk substitutes negatively affects breastfeeding: global sales in 2014 of US$44·8 billion show the industry's large, competitive claim on infant feeding. Not breastfeeding is associated with lower intelligence and economic losses of about $302 billion annually or 0·49% of world gross national income. Breastfeeding provides short-term and long-term health and economic and environmental advantages to children, women, and society. To realise these gains, political support and financial investment are needed to protect, promote, and support breastfeeding. Copyright © 2016 Elsevier Ltd. All rights reserved.

  11. ECONOMIC FEASIBILITY AND PRIORITY DIRECTIONS OF ACTIVIZATION OF SOCIAL INVESTMENTS OF THE ENTERPRISES

    Directory of Open Access Journals (Sweden)

    O. Grishnova

    2016-06-01

    Full Text Available The article explores the features of social investment and estimated impact of social investment on key financial and economic indicators of the breweries. Is proved priority areas in social investment and offered to recommendation to improve social investment in the enterprises of the brewing industry in Ukraine.

  12. Foreign Direct Investment versus Portfolio Investment : A Global Games Approach

    OpenAIRE

    Yamin Ahmad; Pietro Cova; Rodrigo Harrison

    2004-01-01

    We present a model of investment under uncertainty about fundamentals, using a global games approach. Goldstein & Razin (2003) show that there is an information based trade-off between foreign direct investment (FDI) and portfolio investment (PI) which rationalizes some well known stylised facts in the literature - the relative volatility and reversibility of foreign direct investment versus portfolio investment. We extend their result and show that uncertainty about fundamentals does not imp...

  13. EVALUATION OF INVESTMENT ATTRACTIVENESS INDICATORS OF REGIONS IN UKRAINE

    Directory of Open Access Journals (Sweden)

    Vira Vartsaba

    2017-12-01

    Full Text Available The theoretical and methodological principles for assessing the investment attractiveness of the regions are the subject of the research. The aims of the research consist in improving the existing approach for measuring the level of investment attractiveness of territorial systems in the direction of taking into account the possible multicollinearity and determining the share of investment attractiveness factors in the aggregate indicator on the basis of calculated values of determination coefficients, which respectively provide to distinguish the priority directions in the formation of regional investment policy aimed at raising the level of investment attractiveness of regions of Ukraine. Methodology. The article deals with the research of theoretical and methodological approaches to the definition of investment attractiveness of Ukrainian regions by means of general scientific methods of analysis: systematization and generalization, induction, deduction. Results. To assess the investment climate in the regions of Ukraine, an improved existing approach for measuring the level of investment attractiveness of territorial systems is proposed in the direction of taking into account possible multicollinearity and determining the share of factors of investment attractiveness, which is based, in particular, on the selected indicators, in particular: the volume of direct foreign investments per capita (FORINV; per capita net exports (NETEXP; the number of economically active enterprises per 10 000 population (ENTRP; volumes of industrial production (PROM; population income (REV; volume of retail trade turnover per capita (TOV; volume of completed construction work (BUD. It is proved that the priority and intensity of influence on the indicator of investment into fixed capital per capita of factors of investment attractiveness varies for different regions of Ukraine, therefore, according to the conducted analysis, the investment attractiveness of the

  14. Quantifying the UK's incentives for low carbon investment

    International Nuclear Information System (INIS)

    Wordsworth, Andrew; Grubb, Michael

    2003-01-01

    The UK climate change programme has introduced a range of instruments to foster investment in low carbon technologies and markets. We estimate the total value of these interventions, in terms of the redirection of financial flows and directly foregone tax income, to be about 1.3 billion pounds per year (Euro or US$: 2 billion per year), as from 2002 to 2003 when the renewable obligation certificates (ROCs) first take effect. About 20% of this consists of direct expenditure, the remaining 80% is in the form of indirect expenditures contained within sectors (ROCs, the energy efficiency commitments), and foregone tax revenues. Most of the energy-efficiency investment is estimated to recoup expenditure within normal life-cycles and may thus be considered profitable; the profitability of the supply-side interventions is predicated mostly upon expected cost reductions associated with the build up of the associated industries

  15. Quantifying the UK's incentives for low carbon investment

    International Nuclear Information System (INIS)

    Wordworth, A.; Grubb, M.

    2003-01-01

    The UK climate change programme has introduced a range of instruments to foster investment in low carbon technologies and markets. We estimate the total value of these interventions, in terms of the redirection of financial flows and directly foregone tax income, to be about 1.3 billion English pounds per year (c. Euro or US$ 2 billion per year), as from 2002 to 2003 when the renewable obligation certificates (ROCs) first take effect. About 20% of this consists of direct expenditure, the remaining 80% is in the form of indirect expenditures contained within sectors (ROCs, the energy efficiency commitments), and foregone tax revenues. Most of the energy-efficiency investment is estimated to recoup expenditure within normal life-cycles and may thus be considered profitable; the profitability of the supply-side interventions is predicated mostly upon expected cost reductions associated with the build up of the associated industries

  16. A dynamic decision model for portfolio investment and assets management

    Institute of Scientific and Technical Information of China (English)

    QIAN Edward Y.; FENG Ying; HIGGISION James

    2005-01-01

    This paper addresses a dynamic portfolio investment problem. It discusses how we can dynamically choose candidate assets, achieve the possible maximum revenue and reduce the risk to the minimum level. The paper generalizes Markowitz's portfolio selection theory and Sharpe's rule for investment decision. An analytical solution is presented to show how an institutional or individual investor can combine Markowitz's portfolio selection theory, generalized Sharpe's rule and Value-at-Risk(VaR) to find candidate assets and optimal level of position sizes for investment (dis-investment). The result shows that the generalized Markowitz's portfolio selection theory and generalized Sharpe's rule improve decision making for investment.

  17. Investment risks under uncertain climate change policy

    International Nuclear Information System (INIS)

    Blyth, William; Bradley, Richard; Yang, Ming; Bunn, Derek; Clarke, Charlie; Wilson, Tom

    2007-01-01

    This paper describes results from a model of decision-making under uncertainty using a real options methodology, developed by the International Energy Agency (IEA). The model represents investment decisions in power generation from the perspective of a private company. The investments are subject to uncertain future climate policy, which is treated as an external risk factor over which the company has no control. The aims of this paper are to (i) quantify these regulatory risks in order to improve understanding of how policy uncertainty may affect investment behaviour by private companies and (ii) illustrate the effectiveness of the real options approach as a policy analysis tool. The study analysed firms' investment options of coal- and gas-fired power plants and carbon capture and storage (CCS) technologies. Policy uncertainty is represented as an exogenous event that creates uncertainty in the carbon price. Our findings indicate that climate policy uncertainty creates a risk premium for power generation investments. In the case of gas- and coal-fired power generation, the risk premium would lead to an increase in electricity prices of 5-10% in order to stimulate investment. In the case of CCS, the risk premium would increase the carbon price required to stimulate investment by 16-37% compared to a situation of perfect certainty. The option to retrofit CCS acts as a hedge against high future carbon prices, and could accelerate investment in coal plant. This paper concludes that to minimise investment risks in low carbon technologies, policy-makers should aim to provide some long-term regulatory certainty. (author)

  18. INVESTMENT POTENTIAL OF UKRAINE AND THE POSSIBILITIES OF ITS USE

    Directory of Open Access Journals (Sweden)

    V. Nemchenko

    2017-12-01

    Full Text Available The article states that Ukraine doesn’t have an opportunity to attract investments for economic development. At the same time, attracting infrastructure bonds and improving lending will allow to find additional investments and ensure GDP growth.

  19. Environmental efficiency analysis of power industry in China based on an entropy SBM model

    International Nuclear Information System (INIS)

    Zhou, Yan; Xing, Xinpeng; Fang, Kuangnan; Liang, Dapeng; Xu, Chunlin

    2013-01-01

    In order to assess the environmental efficiency of power industry in China, this paper first proposes a new non-radial DEA approach by integrating the entropy weight and the SBM model. This will improve the assessment reliability and reasonableness. Using the model, this study then evaluates the environmental efficiency of the Chinese power industry at the provincial level during 2005–2010. The results show a marked difference in environmental efficiency of the power industry among Chinese provinces. Although the annual, average, environmental efficiency level fluctuates, there is an increasing trend. The Tobit regression analysis reveals the innovation ability of enterprises, the proportion of electricity generated by coal-fired plants and the generation capacity have a significantly positive effect on environmental efficiency. However the waste fees levied on waste discharge and investment in industrial pollutant treatment are negatively associated with environmental efficiency. - Highlights: ► We assess the environmental efficiency of power industry in China by E-SBM model. ► Environmental efficiency of power industry is different among provinces. ► Efficiency stays at a higher level in the eastern and the western area. ► Proportion of coal-fired plants has a positive effect on the efficiency. ► Waste fees and the investment have a negative effect on the efficiency

  20. The economic content of the term “investment attractiveness”

    Directory of Open Access Journals (Sweden)

    E. R. Zakirova

    2016-01-01

    Full Text Available The article is devoted to the definition of the economic content of the concept of “investment attraction” and the study of the criteria of investment attractiveness. We conducted a retrospective analysis and systematization of the various definitions of “capital”, “investment”, “investment attraction”, given by domestic and foreign authors. A generalized definition of capital is given: “capital’ is an objective economic category, which offers a business entity to carry out its investment activities in order to expand the scope and value of the business, making a profit and improve its investment attractiveness. It is emphasized that the concept of “investment” is broader than the concept of “capital”: it is investment in capital with varying degrees of liquidity for the purpose of subsequent increments and increase the value of the business entity. The author defines the main characteristics of the investment. A distinction of the term “investment attractiveness” of similar concepts, “market attractiveness”, “investment climate”, “investment image”, “investment potential” is made. It is concluded that the investment attractiveness is a component of the investment climate, which is characterized by an objective character and eliminates the subjectivity. Based on the understanding of different approaches to the study of the investment attractiveness and define its criteria the author offers a brief description of the concept of “investment attractiveness”: investment attractiveness is an independent economic category – a set of internal and external factors, as well as qualitative and quantitative indicators of the investment potential of any of the levels of the economic system – state, regional, sectoral, level of economic entities. Evaluation of investment attractiveness at all levels of the economic system is carried out in the current period (current situation analysis and forecast

  1. ENERGY EFFICIENCY IN THE SHIPPING SECTOR – A CASE STUDY

    Directory of Open Access Journals (Sweden)

    BRANISLAV DRAGOVIŠ

    2017-12-01

    Full Text Available The improvement of Ship Energy Efficiency has been a major issue for the Shipping industry, primarily for three reasons; Firstly because fuel expenses of merchant ships contribute substantially to the overall expenses, secondarily, as conventional diesel engines and gas turbines emit large amounts of Greenhouse Gases (GHGs, contributing to the Climate Change and thirdly due to recent legislation including IMO Resolutions and EU Directives. The above in addition to the recent economic recession, have made it imperative for the industry to lower costs and introduce novel technologies and technical innovations, through the application of the Energy Efficiency Design Index (EEDI and Energy Efficiency Operation Index (EEOI.This paper aims to contribute to the identification of methods and management tools in order to improve energy efficiency, by developing Ship Energy Efficiency Management Plans (SEEMPs. The paper focuses especially on investments, modifications, management and operational changes that can be deployed, in order to improve energy efficiency of existing ships. Finally, the economic result of modifications made on an existing vessel is presented, using data from a study performed by the authors in collaboration with several shipping companies.

  2. Three Essays on Energy Efficiency and Environmental Policies in Canada

    Science.gov (United States)

    Gamtessa, Samuel

    2011-09-01

    This thesis is organized into five Chapters. In Chapter 1, we provide an introduction. In Chapter 2, we present a study on residential energy-efficiency retrofits in Canada. We describe the EnerGuide for Houses data and model household decisions to invest in energy-efficiency retrofits. Our results show that government financial incentives have important positive effects. The decision to invest in energy-efficiency retrofits is positively related to potential energy cost savings and negatively related to the costs of the retrofits. We find that household characteristics such as the age composition of household members are important factors. All else remaining constant, low income households are more likely to undertake energy-efficiency retrofits. In the third Chapter, we present our study on price-induced energy efficiency improvements in Canadian manufacturing. Our study employs a new approach to the estimation of price-induced energy efficiency improvements and the results have important empirical and policy implications. In the fourth chapter, we present our study on the implications of the "shale gas revolution" on Alberta greenhouse gas emission abatement strategy. Given that the strategy is centered on deployment of CCS technologies, we analyze the effects of the declines in natural gas price on CCS deployment in the electricity sector. We use the CIMS simulation model to simulate various policy scenarios under high and low natural gas price assumptions. Comparison of the results shows that CCS market penetration in the electricity sector is very minimal in the low natural gas price scenario even when a 50% cost subsidy is applied. Accordingly, there is little gain from subsidizing CCS given the "shale gas revolution." We provide a few concluding remarks in Chapter 5.

  3. Stimulating Investment Development through Transformation of State Banks Activity

    Directory of Open Access Journals (Sweden)

    Kulpinska Lidiya K.

    2013-12-01

    Full Text Available The article considers significance of state corporations and state financial institutions in stimulation of investments into the fixed capital of the country and considers problems of increase of efficiency of activity of these institutions in the world and Ukraine. It considers the state sector of the developing countries through the prism of activity of state financial and non-financial corporations. It analyses theories of positive and negative features of carrying out state investing through state-owned banks. It analyses the role of state financial corporations in Ukraine, in particular, in crediting and expansion of the portfolio of acquired governmental bonds and offers ways of its increase in the context of necessity of directing funds into investment development.

  4. Utilization of information and communications technology (ICT) to improve workface efficiency

    Energy Technology Data Exchange (ETDEWEB)

    Haines, A.; Rasmussen, J. [Industrial Audit Corp., Toronto, Ontario (Canada)

    2010-07-01

    Improving the efficiency of personnel at the workface is a key objective for executing construction, maintenance, quality, engineering and human performance activities. Schedule and cost overruns have a significant impact on the bottom line and on future business efficiency in execution of tasks is paramount to success. Leveraging information and communications technology (ICT) in construction, maintenance and operation environments can create a mobile workforce where personnel efficiency is improved, significant gains are made on schedule and cost, and the overall quality of work is raised. This paper will discuss the impact of mobile technology specifically on workface efficiency and productivity. (author)

  5. Utilization of information and communications technology (ICT) to improve workface efficiency

    International Nuclear Information System (INIS)

    Haines, A.; Rasmussen, J.

    2010-01-01

    Improving the efficiency of personnel at the workface is a key objective for executing construction, maintenance, quality, engineering and human performance activities. Schedule and cost overruns have a significant impact on the bottom line and on future business efficiency in execution of tasks is paramount to success. Leveraging information and communications technology (ICT) in construction, maintenance and operation environments can create a mobile workforce where personnel efficiency is improved, significant gains are made on schedule and cost, and the overall quality of work is raised. This paper will discuss the impact of mobile technology specifically on workface efficiency and productivity. (author)

  6. Improvement in light-extraction efficiency of light emitting diode ...

    Indian Academy of Sciences (India)

    The effect of various microlens parameters such as diameter and area fraction on light-extraction efficiency was systematically studied. Improvement of 4% in extraction efficiency was obtained by employing it on white light emitting diode. The area fraction of microlenses was increased up to 0.34 by reducing the spin speed.

  7. Refractories for Industrial Processing. Opportunities for Improved Energy Efficiency

    Energy Technology Data Exchange (ETDEWEB)

    Hemrick, James G. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Hayden, H. Wayne [Metals Manufacture Process and Controls Technology, Inc., Oak Ridge, TN (United States); Angelini, Peter [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Moore, Robert E. [R.E. Moore Associates, Maricopa, AZ (United States); Headrick, William L. [R.E. Moore Associates, Maricopa, AZ (United States)

    2005-01-01

    Refractories are a class of materials of critical importance to manufacturing industries with high-temperature unit processes. This study describes industrial refractory applications and identifies refractory performance barriers to energy efficiency for processing. The report provides recommendations for R&D pathways leading to improved refractories for energy-efficient manufacturing and processing.

  8. [Investing in health: the economic case. Report of the WISH Investing in Health Forum 2016].

    Science.gov (United States)

    Yamey, Gavin; Beyeler, Naomi; Wadge, Hester; Jamison, Dean

    2017-01-01

    financing has the benefit of being more efficient and better at controlling costs than private financing and is the only sustainable way to reach UHC. In addition, people put a high economic value on the protection against financial risk that public financing provides. This report addresses three key questions: 1) What is the economic rationale for investing in health?; 2) what is the best way to finance health?, and 3) which interventions should be prioritized?

  9. Parameterization of the InVEST Crop Pollination Model to spatially predict abundance of wild blueberry (Vaccinium angustifolium Aiton) native bee pollinators in Maine, USA

    Science.gov (United States)

    Groff, Shannon C.; Loftin, Cynthia S.; Drummond, Frank; Bushmann, Sara; McGill, Brian J.

    2016-01-01

    Non-native honeybees historically have been managed for crop pollination, however, recent population declines draw attention to pollination services provided by native bees. We applied the InVEST Crop Pollination model, developed to predict native bee abundance from habitat resources, in Maine's wild blueberry crop landscape. We evaluated model performance with parameters informed by four approaches: 1) expert opinion; 2) sensitivity analysis; 3) sensitivity analysis informed model optimization; and, 4) simulated annealing (uninformed) model optimization. Uninformed optimization improved model performance by 29% compared to expert opinion-informed model, while sensitivity-analysis informed optimization improved model performance by 54%. This suggests that expert opinion may not result in the best parameter values for the InVEST model. The proportion of deciduous/mixed forest within 2000 m of a blueberry field also reliably predicted native bee abundance in blueberry fields, however, the InVEST model provides an efficient tool to estimate bee abundance beyond the field perimeter.

  10. Regulatory Incentives and Disincentives for Utility Investments in Grid Modernization

    Energy Technology Data Exchange (ETDEWEB)

    Kihm, Steve [Seventhware, Madison, WI (United States); Beecher, Janice [Michigan State Univ., East Lansing, MI (United States). Inst. of Public Utilities; Lehr, Ronald L.

    2017-05-31

    Electric power is America's most capital-intensive industry, with more than $100 billion invested each year in energy infrastructure. Investment needs are likely to grow as electric utilities make power systems more reliable and resilient, deploy advanced digital technologies, and facilitate new services to meet some consumers' expectations for greater choice and control. But do current regulatory approaches provide the appropriate incentives for grid modernization investments? This report presents three perspectives: -Financial analyst Steve Kihm begins by explaining that any major investor-owned electric utility that wants to raise capital today can do so at a reasonable cost. The question is whether utility managers want to raise capital for grid modernization. Specifically, they look for investments that create the most value for their existing shareholders. In cases where grid modernization investments are not the best choice in terms of shareholder value, Kihm describes shareholder incentive mechanisms that regulators could consider to encourage such investments when they are in the public interest. -From an institutional perspective, Dr. Janice Beecher finds that the traditional rate-base/rate of return regulatory model provides powerful incentives for utilities to pursue investments, cost control, efficiency and even innovation, and it is well suited to the policy objectives of grid modernization. Prudence of grid modernization investments (fair returns) depends on careful evaluation of the specific asset, and any special incentives (bonus returns) should be used only if they promote economic efficiency consistent with the core goals of economic regulation. According to Beecher, realizing the promises of grid modernization depends on effective implementation of the traditional regulatory model and ratemaking tools to serve the public interest. -Conversely, former commissioner and clean energy consultant Ron Lehr says that rapid electric industry

  11. Engineering management technologies of increasing energy efficiency processes in the investment and construction projects

    Science.gov (United States)

    Borisovich Zelentsov, Leonid; Dmitrievna Mailyan, Liya; Sultanovich Shogenov, Murat

    2017-10-01

    The article deals with the problems of using the energy-efficient materials and engineering technologies during the construction of buildings and structures. As the analysis showed, one of the most important problems in this sphere is the infringement of production technologies working with energy-efficient materials. To improve the given situation, it is offered to set a technological normal at the design stage by means of working out the technological maps studying the set and the succession of operations in details, taking in mind the properties of energy-efficient materials. At Don State Technical University (DSTU) the intelligent systems of management are being developed providing organizational and technological and also informational integration of design and production stages by means of creating the single database of technological maps, volumes of work and resources.

  12. How to Improve Finance and Taxation of Investment Structure%如何完善投资结构的财政税收问题

    Institute of Scientific and Technical Information of China (English)

    徐莎莉

    2013-01-01

    Optimization of investment structure of finance and taxation policies is of great significance in guiding investment, promoting economic and social development. Currently, there are many problems in the investment structure. To solve the problems, we should optimize investment structure, promote the role of fiscal and tax policies, and in practical work, we should take corresponding measures, rationally use financial investment, promote the effective coordination of industrial investment structure, strengthen tax administration, improve relevant taxation policies, and strict investment direction.%  优化投资结构的财政税收政策在引导投资行为,促进经济社会发展等方面有着重要的作用。当前,投资结构方面存在着一些问题与不足。为了应对这些问题,优化投资结构,促进财政税收政策更好的发挥作用,今后在实际工作中需要采取相应的策略,合理利用财政直接投资、促进地区和产业投资结构的有效协调、加强税收管理、完善相关税收政策并严格投资的使用方向。

  13. Financial Crisis and Energy Efficiency. Information paper

    Energy Technology Data Exchange (ETDEWEB)

    de T' Serclaes, Philippine; Gasc, Emilien; Saussay, Aurelien

    2009-10-15

    Governments have understood the importance of financing energy efficiency now. This realisation is exemplified through the central role occupied by energy efficiency in most stimulus packages. The purpose of this memo is to identify the impact of the financial and economic crisis on the evolution of public sector investments, energy efficiency policy development, and private sector investments. The paper will first identify trends which have emerged from the implementation of IEA government stimulus packages. Most relevant case studies are then provided along with lessons and challenges.

  14. Chemical plant innovative safety investments decision-support methodology.

    Science.gov (United States)

    Reniers, G L L; Audenaert, A

    2009-01-01

    This article examines the extent to which investing in safety during the creation of a new chemical installation proves profitable. The authors propose a management supporting cost-benefit model that identifies and evaluates investments in safety within a chemical company. This innovative model differentiates between serious accidents and less serious accidents, thus providing an authentic image of prevention-related costs and benefits. In classic cost-benefit analyses, which do not make such differentiations, only a rudimentary image of potential profitability resulting from investments in safety is obtained. The resulting management conclusions that can be drawn from such classical analyses are of a very limited nature. The proposed model, however, is applied to a real case study and the proposed investments in safety at an appointed chemical installation are weighed against the estimated hypothetical benefits resulting from the preventive measures to be installed at the installation. In the case-study carried out in question, it would appear that the proposed prevention investments are justified. Such an economic exercise may be very important to chemical corporations trying to (further) improve their safety investments.

  15. Role of Tax Instruments in Investment and Innovation Strategy of Development of Ukraine

    Directory of Open Access Journals (Sweden)

    Demchyshak Nazar B.

    2014-02-01

    Full Text Available The article speaks about problems of formation of the investment and innovation potential in Ukraine. It identifies priority of development and introduction of the investment and innovation strategy for the national economy. It studies the role of state stimulation of the investment and innovation activity using direct and indirect methods. It considers foreign experience of tax stimulation of innovation activity. It analyses application of different tax preferences by different foreign states. It shows positive and negative sides of preferential taxation under conditions of financial instability of Ukrainian economy. In order to identify the level of investment activity the article analyses dynamics of change of the investment attractiveness index and shows problem aspects of attraction of foreign investments into the national economy. It identifies priorities of formation of efficient investment and innovation strategy of development of economy on the basis of a common system approach.

  16. Electric power in the competitive market - Investing capital for cleaner energy generation still a rewarding business? New perspectives for electrical energy efficiency improvement, the cogeneration technology, and renewable energy generation

    International Nuclear Information System (INIS)

    Schwanhold, E.

    2000-01-01

    The meeting gathered policymakers, members of the energy industry, the business consulting professions, and scientific institutes and relevant technology companies. New perspectives have been discussed in the context of required framework conditions and processes that have to/can be put in place, or further developed, in order to create a concrete basis or stronger incentives for realisation of climate protection and environmental policy goals in the energy sector. There have been two panel discussions on the issue of whether investing in clean generation technologies will be rewarding. Five papers each presented to these panels have been analysed and prepared for separate retrieval from the database, as well as five papers each of the discussion forum A, ''New perspectives for energy efficiency measures and contracting partnerships'', and the discussion forum B, ''New perspectives for distributed power generation with CHP systems''. From the discussion forum C, ''New perspectives for renewable energy sources'', one paper has been prepared for separate retrieval. (CB) [de

  17. Barriers to efficiency improvement and fuel switching in Karnataka, India

    International Nuclear Information System (INIS)

    Reddy, A.

    1991-01-01

    Implementing energy efficiency changes requires a wide range measures. Improvements, therefore, require actions at the lowest level of the consumer, through the highest level of the global agencies. Due to the multiplicity of participants, however, barriers to achieving these improvements can arise at every level. The major barriers to improving energy efficiency in developing countries are defined and paths to overcome these challenges are identified. Topics of discussion include: energy consumers; end-use equipment manufacturers; end-use equipment providers; energy carrier producers and distributors; actual/potential cogenerators; financial institutions; government; and international, multilateral and industrialized country funding/aid agencies

  18. The promotion of energy efficiency in Italy

    International Nuclear Information System (INIS)

    De Paoli, L.; Bongiolatti, L.

    2006-01-01

    In 2004 Italy introduced an obligation for electricity and gas distribution companies to reach specific objectives regarding the improvement of energy efficiency in final energy consumption. The scope of the provision is to promote investments in energy efficiency in order to meet the greenhouse gases reduction target set by the Kyoto protocol. The adoption of binding targets of energy efficiency will also lead to the development of an energy services market, modifying the traditional relation between energy dealers and final consumers, thus leading to a more efficient use of the available resources. Similar mechanisms have already been applied in other European countries (as France and United Kingdom) and will be likely introduced in other countries with the implementation of European Directive on energy end-use efficiency and energy services. This paper describes and analyzes both the measures adopted in Italy and the results obtained after the first year of operation of the mechanism. The paper is divided in six different sections. In the first part we highlight the main problems related to the development of system based on tradable white certificates. In the second part we provide a brief description of the Italian regulatory context. In the third part there is an economic analysis of investments in energy efficiency. The fourth part considers the different options that distribution companies face in order to reach the energy efficiency targets. The fifth part shows the results obtained after the first year of operation of the mechanism. Finally, we propose some possible modifications to the scheme adopted in Italy considering the results obtained and the alternative solutions already applied in France and United Kingdom [it

  19. Improving Energy Efficiency In Thermal Oil Recovery Surface Facilities

    Energy Technology Data Exchange (ETDEWEB)

    Murthy Nadella, Narayana

    2010-09-15

    Thermal oil recovery methods such as Cyclic Steam Stimulation (CSS), Steam Assisted Gravity Drainage (SAGD) and In-situ Combustion are being used for recovering heavy oil and bitumen. These processes expend energy to recover oil. The process design of the surface facilities requires optimization to improve the efficiency of oil recovery by minimizing the energy consumption per barrel of oil produced. Optimization involves minimizing external energy use by heat integration. This paper discusses the unit processes and design methodology considering thermodynamic energy requirements and heat integration methods to improve energy efficiency in the surface facilities. A design case study is presented.

  20. THE INFLUENCE OF INSTITUTIONAL CHANGES ON THE INVESTMENT ATTRACTIVENESS OF THE AGRICULTURAL SECTOR OF UKRAINIAN ECONOMY

    Directory of Open Access Journals (Sweden)

    Valeriy ZHUK

    2016-08-01

    Full Text Available Successful development of the Ukrainian economy, its agro-industrial segment requires a large-scale and efficient investment provision and favourable investment climate. In this regard, the actual task of the scientific community is the study of the influence of institutions on the development of investment policy, the formation of investment processes in the country. The purpose of this article is the study of institutional basis for further development of the investment processes in the agricultural sector of Ukrainian economy under conditions of integration into Europe. In the study process author used general scientific methods, in particular statistical method, method of extrapolation, analogy, institutional analysis, abstract-logical method, methods of descriptive simulation. Results of the study are as follows. The influence of formal institutions (legal regulations for the ‘rules of play’ was assessed on the investment efficiency. The ponderability of the formal institutions was identified in the investment success of the big agricultural business of Ukraine. The main causes of the low investment attractiveness of small and medium-sized business in the agrarian sector of the Ukrainian economy were defined. The ways were substantiated for development of the non-formal institutions. It was accentuated that asset capitalization of the small and medium-sized companies would be important for development of the investment processes in Ukraine.