Investment Approach Research Articles

Enhancing investment strategies for CCUS deployment in China: implications from a real options-based multiphase unequal investment approach

Enhancing investment strategies for CCUS deployment in China: implications from a real options-based multiphase unequal investment approach

Tertiary education as social policy: Comparative theoretical perspectives

Abstract In this paper, we conduct an in-depth review of and commentary on two frameworks for international comparative work focused on education systems and skill formation – specifically, welfare regime and production regime approaches. We focus on how tertiary education is understood to function relationally within a national policy repertoire and explore the interplay between education and economic systems. Whereas the welfare regime literature illuminates why some regimes are conducive to human capital production and create more equitable educational and labour market opportunities, the production regime literature focuses on the ways that actors such as government, educational institutions, and unions optimise skill formation. These two theoretical perspectives offer both rival and complementary explanations of varying patterns in public investment, differentiation in education systems, and participation rates in tertiary education across countries. Our analytical account provides useful insights for understanding different national education policies and framing future research, including informing these perspectives with the more recent theoretical contributions of the social investment approach. In relation to changing conceptions of the knowledge economy, education, skill development, and the nature of employment, these two theoretical perspectives continue to provide useful conceptual lenses to examine the education/skill /employment nexus.

A Case Study on Fear of Missing Out (FOMO) in Bull Market Strategies and Shifting Investment Opportunities

Akshay, a traditionally conservative investor, embraced the Indian stock market's bullish trend following the 2024 elections, transitioning to a more aggressive strategy. However, global events and market corrections in September 2024 have caused volatility, prompting him to reconsider his investment approach. Now at a crossroads, Akshay must weigh his options—whether to liquidate, re-diversify, or implement risk management strategies to balance short-term uncertainties with long-term financial growth.

Integrated care in the Baltic states over a 5-year period: progress, challenges and future directions

Abstract Person-centered, multidisciplinary care is key to addressing evolving complex health needs. In Estonia, Latvia, and Lithuania, this pursuit of integrated care has gained momentum as an innovative approach to allocate resources more efficiently and improve patient outcomes. This study investigates the progress of integrating care in the Baltic countries from 2019 to 2024. It details key learnings, particularly for small European countries with limited resources. The Health Systems and Policy Monitor Network of the European Observatory on Health Systems and Policies undertook a cross-country study to better understand the progress in care integration in the Baltics. The Network’s Baltic country experts completed a 21-item questionnaire on the adoption of integrated care reforms. Responses were analyzed to capture reform characteristics and commonalities, countries’ political environments and their conduciveness to the uptake of integrated care. Country-specific experiences with the implementation of integrated care were further explored via case studies of pilot programs over the five years. The pace of implementing integrating care reforms varied in each country. Existing regulatory barriers, workforce challenges and payment schemes have impeded integration efforts across health and social care. Despite these obstacles, the political commitment to new and innovative service delivery and collaboration for chronic care management underscores an important prerequisite toward achieving more integrated and person-centered healthcare. The three case studies illustrate the hurdles that come with shifting care settings and expanding roles for some workers. Findings stress the role for integrated care to address organisational challenges in the Baltics. This study highlights innovative approaches and long-running efforts to provide multidisciplinary care for complex-needs patients and the implications of their results for broader health system adoption. Key messages • Small countries like the Baltics face structural challenges in integrating care to improve outcomes and efficiency. • Investment and innovative care approaches are key to further advancements.

Analyzing the Impact of Technological Innovation: A Case of Tesla's Self-driving Technology

Against the backdrop of rapid global economic development, autonomous driving technology, as a revolutionary change, has attracted a large number of investors and corporate enterprises to invest and explore. This paper studies Tesla's R&D investment in Autopilot technology and its impact on market competitiveness between 2017 and 2019. By analyzing data from Tesla's official website and other reliable sources, the study finds that Tesla's high R&D investment and data-driven approach have significantly improved the safety and reliability of its Autopilot technology. For example, Tesla's Autopilot system enables a highly automated driving experience through multiple sensors and powerful computing capabilities. The results show that Tesla's leadership in Autopilot technology has greatly enhanced its market competitiveness and driven the industry as a whole. The study's conclusion suggests that Tesla's technological innovation not only improves the company's competitiveness but also drives changes in the mobility ecosystem, which has a positive impact on Tesla's development.

A two-step method for assessing enhanced value in turnaround, spin-off, and value stocks

To assess outright and relative value opportunities in stocks and benchmark their performance against an index with global relevance, it is important to achieve and measure risk-adjusted excess returns. Academic and corporate research has focused quite extensively on analyzing stock returns and comparing the outperformance of specific investment strategies, with value investing being one of the most prominent and longest-known factor strategies. In this event study, to test for the existence of risk-adjusted excess returns, or alpha, a novel two-step approach is proposed to assess Enhanced Value in single stocks for three different investment approaches: plain value investing, investing in spin-offs, and investing in turnaround companies. While the first step of the two-step approach screens companies for a combination of financial company characteristics, the second step ranks and sorts them by either their price-earnings ratio or by their price-book ratio, thus “enhancing” the value assessment. Their short- and mid-term stock performance is investigated for an investment horizon of one year, three years, and five years. Stocks of value companies, spin-offs, and turnaround companies outperform the S&P 500 benchmark on average and on a risk-adjusted basis for all three investment horizons when tested for Enhanced Value with the novel two-step approach. The analysis results provide deeper insights into how the value factor in its different characteristics needs to be understood in the context of investment strategies and how it potentially can be applied to stock selection and portfolio construction, resulting in investment strategies showing a risk-adjusted outperformance.

Towards Share Price Volatility: Does Capital Structure Choices Really Matter?

The study was conducted to assess the impact of capital structure on the share price volatility in Tanzania. The study utilized quantitative secondary data spanning a ten (10) year period from 2013 to 2022, sourced from the Dar es Salaam Stock Exchange (DSE) and annual reports of six (6) chosen manufacturing companies. The data was analysed using the random effect panel regression model. Findings revealed that all independent variables (Short term, long term and total debt) have a negative statistically significant effect on share price volatility. On the basis of the study’s findings, the research suggested that, listed companies should adopt effective debt management strategy to mitigate share price volatility. Also, Capital market and security authorities (CMSA) are advised to provide regulatory guidance and enforce transparent reporting requirements for listed companies. Furthermore, Investors are encouraged to adopt a strategic investment approach, considering companies with effective debt management in their decisions. Future researches should use Autoregressive Distributed Lag (ARDL) model to capture both short- and long-term impact of capital structure changes, and include additional debt related metrics and microeconomic factors for a more nuanced understanding of share price volatility.

Hydrogen production from non-potable water resources: A techno-economic investment and operation planning approach

The production of hydrogen through water electrolysis facilitates large-scale energy storage, provides ancillary services, and supports the decarbonization of industries with hard-to-reduce emissions. As renewable energy adoption expands, the demand for these applications is increasing. However, water electrolysis currently faces challenges in cost competitiveness compared to other hydrogen production methods. Additionally, its reliance on potable water sources places additional strain on freshwater reserves. This study addresses these issues by exploring the economically optimal investment and operational strategy for hydrogen production using non-potable water sources. The goal is to maximize net profit through mathematical optimization, utilizing three advanced electrolysis technologies: alkaline electrolysis, proton exchange membrane electrolysis, and solid oxide electrolysis. The study examines three non-potable water sources: seawater, urban wastewater effluent, and rainwater. The model takes into account electricity market values from day-ahead and balancing markets, as well as the market values for hydrogen, oxygen, freshwater, and mixed solid salt. Two scenarios are analysed, reflecting varying levels of uncertainty in electricity price forecasts. Each scenario includes nine case studies, representing various combinations of water sources and electrolysis technologies. The results indicate that alkaline electrolysis and proton exchange membrane electrolysis are financially viable technologies, with potential annual net profits of up to 6.4 and 6.2 million euros, respectively. In contrast, solid oxide electrolysis incurs a negative net profit across all scenarios and is not economically viable under the given conditions. The main revenue sources are hydrogen sales and combined up-balancing and down-balancing services in electricity markets. Participation in the balancing market constitutes a significant portion (35 to 61%) of the total revenue in all cases with positive net profits, making it critical for economic viability. Rainwater is identified as the most cost-effective water source for hydrogen production. However, the costs associated with water treatment and brine management are minimal, contributing only 0.7 to 3.7% to the total cost of hydrogen production. Thus, differences in net profit are primarily attributed to the type of electrolysis technology used.

Revealing the influence of systemic risks in the development of enterprises on updating their investment position under entropy conditions

This study identifies the impact of systemic risks on the company's strategic development prospects through attracting investments and ensuring their insurance protection. The company's strategic development model predetermines the level of its investment activity at various stages of the life cycle. This is important because there is an urgent need for the Ukrainian economy to attract foreign investment for the post-war reconstruction of the country. But there are objective difficulties associated with the complication of actualizing the investment position of enterprises in the leading sectors of the economy, taking into account the challenges and threats caused by the military aggression of the Russian Federation. Conditions of entropy, which indicate unpredictability and variability in the business environment, expose enterprises to great risks. It was determined that the investment position of the business entity should correlate with the strategic model of its development and represent a balanced mechanism. This has made it possible to reasonably systematize the risk of investment activities and approaches to their management. Statistical analysis became the basis for evaluating the dynamics of direct and capital investments in the leading sectors of the Ukrainian economy. The results gave grounds for asserting a significant deterioration of the investment climate in Ukraine as a result of the war. The level of direct and capital investments is low. We focused attention on the possibility of flexible adjustment of strategic development plans to unforeseen risks. The proposed recommendations, unlike existing ones, consist of a combination of state and market levers to stimulate investments in the economy of Ukraine. Existing military risks restrain the investment activity of stakeholders. Therefore, the conditions for the practical implementation of the mechanism of distribution and reduction of risks are the formation of insurance protection of investments for investors

HALAL INVESTMENTS: HABITS AND APPROACHES IN MALABAR REGION

The study examines the investor behaviour, its influencing factors among the Muslim community in the Malabar region of Kerala (covering Malappuram, Kozhikode, Kannur, and Kasaragod) in aligning financial decisions with ethical and religious values (Halal). It adopts a descriptive research design, utilizing both primary and secondary data. Primary data is collected via a self-designed questionnaire, while secondary data is gathered from books, journals, and online sources. A random sample of 200 respondents from these four districts is studied over a 40-day period. Data is analysed using SPSS and presented through various statistical methods. The study's key objectives include examining the extent of halal investments within the community, identifying preferred halal investment avenues, exploring factors influencing these decisions, and analysing the impact of Islamic education on halal investment. The study highlights the correlation between level of Islamic education and halal investment engagement among Muslim community. KEYWORDS: Halal, Sharia, Investment habit, Investment approach, Malabar region, Islamic education

Is Takaful (Islamic Insurance) More Efficient Than Conventional Insurance A Comparative Analysis Of Insurance Industry In Malaysia

The efficiency of the Malaysian insurance industry (II) has drawn increasing international attention as the country has a dual-insurance system that comprises conventional insurance (CI) and takaful (Islamic) insurance (TI). Therefore, the objectives of the present study are to evaluate the efficiency of the Malaysian II as well as compare the efficiencies of CI and TI in Malaysia. Secondary data, spanning 2013-2021, from 46 CI and 28 TI providers was used. The results of the data envelopment analysis (DEA) indicates that scale efficiency (SE) has a significantly larger impact on the impact the total efficiency (TE) of the Malaysian II than pure technical efficiency (PTE). Therefore, larger insurance companies, with higher SE, are better suited to deal with large-scale risks, while smaller insurance companies may need to diversify or reinsure to limit their risk. Meanwhile, the results of the parametric and non-parametric tests indicate that there is a significant difference between the efficiencies of the Malaysian CI and TI industries. More specifically, that the Shariah-compliant nature of the Malaysian TI industry is a more conservative investment approach. As such, it decreases the risk of losses and financial instability. The purpose of comparing the efficiencies of the Malaysian TI and CI industries was to stimulate innovation and competition in the Malaysian II.

Understanding the Economic Drivers of Climate Change in Southeast Asia: An Econometric Analysis

This study analyses macroeconomic trends in Southeast Asian countries and their implications for climate change, focusing on urbanisation, GDP per capita, energy intensity, FDI, inflation, and trade. Using panel data from 1970 to 2020, we investigate climate change drivers across Indonesia, Malaysia, the Philippines, Singapore, and Thailand through panel ARDL with PMG and MG analyses, along with Hausman tests. Our results highlight the need for tailored urbanisation policies for sustainability, as the consistent positive correlation between GDPs per capita and emissions, underscores the challenge of decoupling economic growth from emissions. Urbanisation’s varying impact calls for proactive planning, and mixed FDI results suggest nuanced investment approaches aligned with sustainability. Inflation’s negative impact hints at environmental benefits during price increases, necessitating integrated economic and climate policies. The positive relationship between trade openness and emissions emphasises the need for eco-conscious trade agreements to mitigate emissions from industrial activity. Our study stresses the importance of considering macroeconomic heterogeneity in crafting climate policies. Policymakers must adopt multifaceted approaches that prioritise sustainability across economic growth, energy efficiency, technology adoption, and trade to balance development with environmental preservation. This approach enables Southeast Asian countries to contribute effectively to global climate change mitigation.

Deep learning for Bitcoin price direction prediction: models and trading strategies empirically compared

This paper applies deep learning models to predict Bitcoin price directions and the subsequent profitability of trading strategies based on these predictions. The study compares the performance of the convolutional neural network–long short-term memory (CNN–LSTM), long- and short-term time-series network, temporal convolutional network, and ARIMA (benchmark) models for predicting Bitcoin prices using on-chain data. Feature-selection methods—i.e., Boruta, genetic algorithm, and light gradient boosting machine—are applied to address the curse of dimensionality that could result from a large feature set. Results indicate that combining Boruta feature selection with the CNN–LSTM model consistently outperforms other combinations, achieving an accuracy of 82.44%. Three trading strategies and three investment positions are examined through backtesting. The long-and-short buy-and-sell investment approach generated an extraordinary annual return of 6654% when informed by higher-accuracy price-direction predictions. This study provides evidence of the potential profitability of predictive models in Bitcoin trading.

The social impact analysis of "Rise a Voice, Airlangga Got Talent" program with social return on investment approach

The social impact analysis of "Rise a Voice, Airlangga Got Talent" program with social return on investment approach

Profit first, environmental impact second? Investigating hybrid institutional logics in venture capital investment approaches

Profit first, environmental impact second? Investigating hybrid institutional logics in venture capital investment approaches

ECONOMIC GLOBALIZATION, ECONOMIC GROWTH, AND HUMAN CAPITAL : EMPIRICAL EVIDENCE USING THREE STAGE LEAST SQUARE IN INDONESIA

The pace of globalization is increasing rapidly and dynamically as time goes by. Indonesia, located takes advantage of globalization to encourage economic growth. However, over the last decade, from 2000 to 2019, Indonesia's economic globalization index has tended to decline along with the increase in the global economic globalization index. Indonesia's economic growth has been relatively stagnant. Human capital, as the primary input in Indonesia's economic system, is suspected to be suboptimal. In the National Medium-Term Development Plan (RPJMN) for 2020-2024, economic growth and human capital are the main focus in achieving national prosperity. Human capital in this study uses health indicators as a proxy for assessing productivity and educational investment approaches. Data is transformed to meet the stationarity requirements of time series data. The study employs the Three Stage Least Square (3SLS) simultaneous equation method to examine total and direct effects. The estimation results show that changes in globalization growth are directly influenced by changes in economic growth, exchange rate growth, and inflation. Changes in economic growth are directly influenced by changes in exchange rate growth, globalization index growth, and inflation. Human capital is directly influenced by changes in globalization index growth, changes in economic growth, inflation, previous-year inflation, and changes in unemployment rates

Analysis of the Benefit Value of PT.KPC's CSR Activities in the UKM Tangguh Program with Social Return on Investment Approach

UKM Tangguh is a collaborative entrepreneurship education program. The program consists of required entrepreneurship material and is adapted to current developments for entrepreneurs in various business fields as participants. Economically, the UKM Tangguh program has contributed to the number of MSMEs upgrading, as seen from changes in the composition of the business scale. Socially, the UKM Tangguh program has helped change the mindset of participants from being a trader to being business person. The objectives of this research are (1) to determine the impact of the program through the social return on investment (SROI) approach and (2) to analyze the level of community satisfaction with the program. The data analysis method uses a comparison of SROI values and the community satisfaction index. Respondents in this study were all participants who were members of the UKM Tangguh program and were willing to take part in each activity session provided. The research results show that the SROI value of the UKM Tangguh program is 21.49, which means that every rupiah of investment given by the company to this program can provide added value, reaching 21.49 times. The assessment of the UKM Tangguh program from the beneficiaries received a very good rating with a score of 3.28 on a scale of 4, if converted to a scale of 100 with a score of 82.04 in the very satisfied category. The high level of beneficiary satisfaction shows the success of implementing the program.

Ownership and investor responses to news on fraud and pecuniary actions: a comparative analysis of Indian banks

Purpose This study aims to understand investors’ reactions to news on fraud and pecuniary and regulatory action in privately owned and government-owned banks. Design/methodology/approach To examine the role of ownership holdings, this study deploys event study methodology and cross-sectional regression to analyze the abnormal returns and the intergroup dynamics. Event study methodology studies the abnormal return on stock prices on days when fraud, pecuniary actions and regulatory news were reported for 36 banks that are listed on the NSE. Data on news has been collected from Reuters for 110 months. Cross-sectional regression analyses are done to examine whether selected variables on bank characteristics influence the abnormal returns. Exploring the intergroup dynamics between government and privately owned banks helps to accentuate how stakeholders influence investor responses. Findings Private and government-owned banks display an anomalous return pattern during the events, though to varying degrees and for a longer duration. The sharp downturn observed in private banks in response to pecuniary and regulatory actions related to news can be attributed to the associated risk of these banks. Intergroup dynamics further demonstrate that the effect of such news regarding government-owned bank stocks is more pronounced on privately owned banks compared to the effect of news related to privately owned banks on public banks. Originality/value The study shows how ownership structure variedly impacts investors’ response to news related to fraud, and pecuniary and regulatory actions on Indian banks, which may eventually ask for customized investment approaches for government-owned and privately owned banks.

The Measuring Development Impact with the Social Return on Investment Approach Model

Development has a strategic role in improving community welfare. Development covers the social, economic and environmental fields. Development can be called successful when it significantly impacts various stakeholders. This research uses the Social Return on Investment (SROI) approach model to describe impact measurement. This research uses qualitative methods with a descriptive approach and a literature study. The results of this research show that the impact of development can be measured using the SROI model. Based on the SROI model, measuring development impacts includes three dimensions: social, economic and environmental. Implementing impact measurement is a form of accountability and transparency in development. Therefore, to get an idea of the magnitude of the impact, development in various sectors needs to be measured using the SROI model. Government and non-government organizations can use the SROI model to measure the impact of development that will and has been carried out.

Ageless Assets: Social Investment and Active Aging Profiles in Lithuania

This article argues that the aging population significantly affects the welfare state. Social investment strategies could respond to a changed economic and social order by enhancing active aging. While the social investment perspective has been a topic of discussion for decades, certain aspects remain underexplored. This study, therefore, aims to assess the impact of social investments on active aging. The study, based on the social investment approach and active aging model, analyzes quantitative data from Wave 8 of the Survey of Health, Ageing and Retirement in Europe (SHARE). The Lithuania sample included 1437 participants. In the analytical phase, Principal Component Analysis and Cluster Analysis were utilized (SPSS ver. 26). The findings unveil four active aging profiles (low activity, moderate activity, balanced activity, and high activity). The two groups are distinguished by aging conditions, such as poor health, lack of social investment, and high reliance on social benefits. The positive impact of social investment is underscored by the improved aging conditions outlined in the last two profiles. This study enriches the social investment research domain by providing valuable insights into the influence of social investment policies on the lives of older individuals and their potential to age actively.