Aspects Of Investment Research Articles

ESTIMASI VALUE AT RISK PORTOFOLIO MENGGUNAKAN METODE QUASI MONTE CARLO DENGAN PEMBANGKIT BILANGAN ACAK HALTON

Estimating the value at risk (VaR) is an important aspect of investment. VaR is a standard method of measuring risk defined as the maximum loss over a certain period of time at a certain level of confidence. The purpose of this study is to estimate the risk of a portfolio represented as a VaR where the volatilities were simulated by th the Monte Carlo and Quasi Monte Carlo methods. The Monte Carlo method involves generating random numbers and the Quasi Monte Carlo method uses Halton's quasi-random sequences. This study uses secondary data, namely daily stock price closing data. Based on the calculation, the VaR of the Quasi Monte Carlo Portfolio produces a maximum loss greater than that of the Monte Carlo Portfolio. This is due to randomization performed with different random number generators for each method and the number of simulations performed. It can be concluded that the Quasi Monte Carlo method is a better method than the Monte Carlo method in estimating the risk of portfolio losses in stocks in the telecommunications sector.

Multiple aspects of the maternal reproductive investment in a polytocous species: What do mothers really control?

One of the factors facilitating the expansion and proliferation of wild boar Sus scrofa is the plasticity of its reproductive biology. Nevertheless, the real influence of maternal and environmental factors on number and sex of the offspring is still controversial. While the litter size was shown to be related with the maternal condition, the strength of this relation remains to be understood, together with the possible role played by environmental conditions. Analogously, it is unclear whether wild boar females can adjust their offspring sex. We investigated multiple aspects of wild boar maternal investment by means of a 10-year dataset of female reproductive traits and a set of biologically meaningful environmental variables. The maternal condition slightly affected the litter size but not the offspring sex, and environment did not affect the litter size or the offspring sex. Moreover, mothers did not cope with the higher costs entailed by producing sons by placing them in the most advantageous intrauterine position, nor by allocating less resources on daughters. Our set of results showed that the female reproductive investment is quite rigid in comparison with other aspects of wild boar reproductive biology. Wild boar females seem to adopt a typical r-strategy, producing constantly large litters and allocating resources on both sexes regardless of internal and external conditions. Such strategy may be adaptive to cope with environmental unpredictability and an intense human harvest, contributing to explain the extreme success of wild boar within human-dominated landscapes.

A Study on Cognitive Factors Affecting Decision-Making of Investors during Covid-19

Decisions of an individual or investors' financial decisions are affected by behavioral or cognitive factors and not just knowledge. Decision-making is not in every case rational by nature. Investors make irrational decisions many times due to the influence of various cognitive factors. Moreover, the ongoing Covid-19 pandemic has added to the uncertainty around us. Every possible sector of business has been affected by it including financial markets. Aberration in investor behavior during this phase has also been observed and has led to deterrence in investors' financial decisions. The present study intends to focus on analyzing empirically and ascertain the impact of Covid-19 on the behavioral & cognitive aspects of financial investment. Primary data has been used for the purpose and was collected by distributing a structured questionnaire among the participating investors chosen by using the convenience sampling method. The sample size of the study is 200 practicing individual investors. Statistical tools like Descriptive Statistics, Correlation, Reliability, and Multiple Regression Analysis were employed for analyzing the data. In this paper, it is found that herd behavior lacks consistency and significance with anchoring having the highest impact on financial decisions taken by investors. The framing effect also has a very high influence on the financial decision-making process of investors. This research will be useful for the government and the policymakers in the country, brokerage houses, retail investors, financial analysts, and asset management companies. As Covid-19 is a time-bound phenomenon, financial decisions of investors may change when the situation normalizes.

CHARACTERISTICS OF BANKING INVESTMENT IN THE SECURITIES PORTFOLIO AND CRITERIAS FOR EVALUATION OF ITS EFFICIENCY

Goal. Substantiation of the theoretical basis of the peculiarities of bank investment in the aspect of financial investment in accordance with the criteria for assessing the effectiveness of the securities portfolio.. Method. Substantiation of the theoretical basis of the features of bank investing is based on the methods of theoretical generalization, grouping and comparison. The study of the model of valuation of financial instruments of bank investment and criteria for the effectiveness of the securities portfolio is based on the methodology of system analysis and synthesis. Results. The process of investing in a banking institution by forms has been studied. It is substantiated that the investment process in accordance with the Law of Ukraine "On Banking" and NBU regulations has a certain limit on the bank's resources. The types and forms of bank investments were analyzed, which made it possible to propose a scheme of bank investments, which includes the primary and secondary distribution of bank investments. It is emphasized that banking investment needs special attention in the sector of financial investments in the stock market, as this market is more profitable and is one of the most promising markets for investment. According to the results of the study of models for estimating the value of financial instruments of bank investment and criteria for the effectiveness of the securities portfolio, the fundamental differences in assessing the effectiveness of financial instruments for reverse cash flows based on the fact that there are financial instruments of debt and equity. Scientific novelty. Models that allow to combine the parameters of income and risk of the securities portfolio with the help of one criterion of financial investment efficiency of the securities portfolio, which combines the levels of risk and income in one value, are substantiated. Practical significance. The results of the study form a scientific and practical basis for conducting various analytical and forecasting research in terms of choosing a financial instrument in the securities portfolio in terms of expected return and risk for financial activities, which allows to form a strategy for managing banking investment activities depending on existing stock market conditions

ORGANIZATIONAL AND ECONOMIC MECHANISM FOR FORMING A TOURIST CLUSTER IN THE REGION

This article highlights the need for the widespread use of new, progressive approaches, as well as the cluster method, to further enhance the competitiveness of the region's economy within the framework of the national innovation system. It is noted that the development of the methodology of formation of the regional tourism cluster consists of several stages, each of which in turn will be analyzed in the scientific, investment, economic, social and environmental aspects. The authors of the scheme of the organizational and economic mechanism of the future Karakol tourist cluster in the Issyk-Kul region were developed. It is based on goals, tasks, economic and organizational blocks, the main directions of development. A mechanism for creating a tourist cluster is proposed on the example of this region, consisting of economic and organizational units. An economic block is proposed that contains a set of various elements that create a favorable environment for the joint work of the relevant cluster units.

The pertinence of incorporating ESG ratings to make investment decisions: a quantitative analysis using machine learning

ABSTRACT Global sustainability being the major goal ahead, socially conscious investors are concerned about non-financial dimensions of investments like impact on environment (E), social relations (S), and corporate governance (G). This research aims to answer whether including ESG data points is conducive to profitable investments while promoting sustainability. Web-scraped a unique dataset of ESG and key financial data of 1400+ companies from 34 stock markets internationally. Quantitative analysis is performed on this data with the aim of determining whether the qualitative aspect of sustainable investments is tantamount to financial parameters. Better ESG scores indicate better financial performance. Return on equity was 14% greater for top 10% ESG companies than bottom 10%. Prediction accuracy of ML models like linear, random forest regression increased when training data included both ESG and financial data. The research concludes with a propitious relationship between ESG data and financial growth parameters which are worth probing further.

SIMULATION MODELING OF INVESTMENT EFFICIENCY IN THE INNOVATIVE ACTIVITY OF THE ENTERPRISE

In this article we will consider the main problems we face in determining the effectiveness of attracting investment in innovation activities of the enterprise. Many researchers have long been developing better mechanisms for evaluating the effectiveness of investment activities. These include simulation techniques and a multi-step approach. As part of this study, we adapt these techniques for the process of evaluating the economic efficiency of innovation, taking into account the identified features. The methods of evaluating the effectiveness of innovation activity in relation to the investment aspect are proposed, the peculiarity of which is the fact that the amount of project money flows and the amount of investment costs, in particular working capital, needed for introducing the assets of an innovative project into for the production with the use of the newest technologies and innovations are taken into consideration. It is proved that the evaluation of the efficiency of investments in the innovation project predetermines processing of expert assessments applying special tools, which involves checking the conditions of consistency and consensus of experts’ ideas. The final stage of the expertise involves making a decision on selection of one or several innovation projects for implementation in the conditions of the enterprise under consideration. It is established that the basis of selection should be the rating of the innovation project, the cost of its implementation and the budget of the enterprise’s innovation development. The final decision on the appropriateness of introduction of the innovation project does not require rigid formalization, but should be taken by senior management board of the enterprise as a result of qualitative assessment of the efficiency of investment in innovation projects. Simulation modeling is proposed, which will allow to make a decision on the effectiveness of attracting investment in an innovative project.

Green Investments: Development of an Understanding of Future Prospects

In this study, there is a detailed discussion about the factors of green investments and their impact on developing different sustainable prospects to improve the economic growth of different countries. Besides that, the importance of green investment in developing the prospects of different countries has been evaluated throughout the study. However, there are many negative factors that are affecting green investments and creating difficult situations in the process of developing prospects. Green investment helps to improve the productivity of different businesses worldwide and helps to improve the business position in the global market. In this study, also the implications of sustainable business models and sustainable strategies through green investments have been discussed in a detailed manner to understand the impact of green investment clearly. The different negative aspects of green investments have caused many crucial situations in developing effective sustainable prospects that help improve the economic condition of different countries worldwide. However, through the secondary qualitative data collection method, all the information of the study has been collected from authentic and reliable sources in this study. Besides that, through the thematic analysis process, all gathered data has been evaluated in a descriptive manner to understand the concept of the phenomenon and conduct better outcomes of the study Keywords : Financial risk, financial system, Leverage Regulations Work, policies, security, and stabilization.

Systematic ESG Risk and Passive ESG Investing

Investors can regard passive environment, social, and governance (ESG) investing as a cost-effective strategy to manage systematic ESG risk. This analysis aims to explain the expected performance of passively following an ESG-screened index within the risk–return paradigm. The author formulates the ESG factor surprise by subtracting returns on ESG-screened indexes from returns on their parent indexes. This approach reveals many intriguing aspects of passive ESG investing. The empirical result of the index model for the sample period from 2011 to 2020 shows that the daily returns of ESG-screened indexes (constructed through negative screening without portfolio skews) have a beta coefficient lower than 1. The EGARCH analysis confirms that ESG factor surprise has a lower long-run level, higher persistence, and minor asymmetry compared with market factor surprise. These empirical findings show that passive ESG investing may be suitable for value-based investors. If investors want to enhance their risk-adjusted return through passive ESG investing, they may need to seek alternative indexes with more ESG exposure deviation.

МЕТОДОЛОГІЯ ОЦІНЮВАННЯ ЕФЕКТИВНОСТІ ПРОЄКТІВ ДЕРЖАВНО-ПРИВАТНОГО ПАРТНЕРСТВА

Анотація. Узагальнено аргументи і контраргументи в межах наукової дискусії з питання визначення основних методологічних засад аналізу ефективності здійснення державно-приватного партнерства. Основною метою проведеного дослідження є виокремлення та аналіз методів оцінювання ефективності державно-приватного партнерства та спричинених ним ефектів. Систематизація літературних джерел і підходів до розв’язання проблеми засвідчила, що існує велика множина методологічних принципів оцінки ефективності державно-приватного партнерства, що розкривають інвестиційний, економічний, фінансовий, соціальний та інші аспекти його реалізації і можуть бути адаптовані та агреговані в загальну методику, що відображатиме оцінювання всіх альтернативних варіантів отримання доходів i витрат. Актуальність розв’язання цієї наукової проблеми полягає в тому, що доцільність реалізації масштабної програми реалізації проєктів державно-приватного партнерства є значною, а єдиного методологічного підходу до оцінювання їхньої ефективності немає, що призводить до появи подвійного рахунку та неврахування важливих ефектів різного виду і масштабності. Дослідження питання визначення методологічних засад оцінювання ефективності проєктів державно-приватного партнерства здійснено в такій логічній послідовності: визначення кількісних та якісних критеріїв оцінювання ефективності реалізації партнерства, виокремлення видів ефектів від цього реалізації із зазначенням основних показників ефективності та привабливості. Методичним інструментарієм проведеного дослідження стали методи порівняння при реалізації наукової дискусіє з питань визначення основних засад реалізації державно-приватного партнерства, наукової абстракції — при визначенні можливих ефектів впливу зростання ефективності реалізації державно-приватного партнерства на національну економіку як на макро-, так і на мікрорівні, моделювання — при формуванні загальних методологічних принципів оцінки партнерства. Об’єктом дослідження обрано проєкти державно-приватного партнерства. Результати проведеного дослідження можуть бути корисними для формування державних програм реалізації державно-приватного партнерства у всіх сферах народного господарства. Ключові слова: проєкти, державно-приватне партнерство, методологія оцінювання, показники ефективності державно-приватного партнерства. JEL Classification М10, М48 Формул: 3; рис.: 0; табл.: 0; бібл.: 18.

Portfolios of FDI In The Middle Euphrates Region

One of the most critical drivers of economic growth in both developed and developing nations alike is FDI. While at the same time indicating that the country's economic variables should be opened up to the global market and that economic reform and integration into the global economy should be pursued, the increasing role of corporate citizenship and the autonomous increase in financial flows between countries. Research aimed at finding and expelling factors attracting foreign direct investment FDI in the governorates of the middle Euphrates region. After reviewing the concept of foreign direct investment, relevance and discussing the most significant positive and negative impacts. The discussion covered the investment environment in the provinces of the middle Euphrates by focusing on the most critical factors attracting investment and expelling it when discussing the negative and positive aspects of foreign investment to the governorates mentioned.

ІНОЗЕМНИЙ КАПІТАЛ В БАНКІВСЬКІЙ СИСТЕМІ УКРАЇНИ

A characteristic feature of the third millennium is the deepening of the globalization of economic processes and the integration of world financial systems, and the servicing of national economies by the banking system today cannot be done without the participation of foreign capital. Entry of foreign capital into the banking system of Ukraine has become an objective process of inflow of foreign investments. As world practice shows, the presence of foreign capital in the national banking systems of both industrialized and transition economies is an integral component of economic development The modern aspects of foreign investment in the transition period are analyzing in the article. In the conditions of globalization of the world economy, the attraction of foreign capital through the banking sector of the domestic economy has many advantages and plays a very important role. Studies conducted by World Bank experts claim that in most cases, the inflow of foreign capital into the banking sector can have a significant impact on the macroeconomic indicators of the entire economy. Taking into account the policy of Ukraine’s access to foreign investments, it can be said that the current policy of my country in this matter is quite flexible. In modern market conditions, in the conditions of war, the question of foreign investment in the Ukrainian banking sector is very acute and very urgent. The banking sector is stable and liquid, as it was before the crisis caused by the war. First, banks provide payment services to individuals and legal entities. Free business funds and a significant part of household savings are kept in bank accounts. These funds are used by banks to provide loans. The harmonious and uninterrupted operation of banks in wartime is more important than usual. The banking industry survived the first months of the war with minor losses thanks to the timely actions of the National Bank and banks to ensure the uninterrupted functioning of financial institutions. The economy continues to function and adapt to new conditions. Last but not least, this became possible thanks to the uninterrupted function- ing of the banking system. In the first hours of the large-scale invasion, the NBU introduced a number of measures that not only quelled panic among Ukrainians, but also restored trust in banks and increased account balances.

Influence of buildability assessment at design phase in real estate investment in Port Harcourt, Nigeria

Buildability assessment is an important aspect of real estate investment, as occasioned by the high cost of land and building materials. This study examined the influence of buildability assessment at design phase in real estate investment in Port Harcourt, Nigeria; to determine and minimize wasted effort before real estate investment commencement. This study adopted descriptive survey with a total number of 340 well-structured questionnaires distributed to clients, contractors and professionals; out of which 221 were retrieved representing 65% response rate. Data collected was analysed using descriptive and inferential statistical tools to determine the effect of buildability assessment on real estate investment. The major factors responsible for failure of buildability assessment are resistance of client to buildability programme, incorrect and inadequate design detailing, errors, omission, under/ over design, incorrect specification of materials, construction difficulties, non-optimum materials usage, simple installation, nature of soil etc. as shown in the findings. Unstable economic environment, width of the investment, finance for real property investment, land tenure legislation and land administration, socio-political issues, real property data banking, provision of physical infrastructure and inflation rate were identified as the reasons for the buildability assessment on real property investment. Furthermore, consequences of absence of buildability assessment on real property investment include: delay in property delivery, reduced investment life-span, wastage of invested capital and loss of capital, conflict among lease and lessor, real property investment on long void period, increase in maintenance and repair, loss of investment income, discouragement of prospective investors, difficulty in real property investment and unhealthy investment procedures. Therefore, it thus reaffirmed the relationship between buildability assessment and real property investment as statistically significant with F (0.659) =12.74; P

CURRENT PROBLEMS OF AGRICULTURE IN TUVA: PRODUCTION, INVESTMENT, AND INNOVATIVE ASPECTS

CURRENT PROBLEMS OF AGRICULTURE IN TUVA: PRODUCTION, INVESTMENT, AND INNOVATIVE ASPECTS

ОРИЕНТИРЫ РАЗВИТИЯ КАЗАХСТАНСКОЙ ЭКОНОМИКИ: НОВЫЕ ЭКОНОМИЧЕСКИЕ ВЫЗОВЫ

Currently, the economy of Kazakhstan, like many other countries, is experiencing a number of serious problems, in particular, an insufficient level of economic stability, the coronavirus pandemic, partial food dependence, which lead to an increase in unemployment and social problems, and also create new economic challenges. This article systematizes the results of the analysis and critical review of the prospects for further development and directions of state support for the industrial policy of the regions of Kazakhstan. Measures are developed here to attract targeted strategic investors and create new ecosystems in the sectors of the economy. A conclusion is made that for the development of entrepreneurship it is necessary to formulate new approaches to the investment aspects of the country's economic policy. The authors also propose to change the basic approaches to regulatory policy and form the principles of a new comprehensive and effective regulation in order to meet modern economic challenges.

ANALISIS KINERJA KEUANGAN PADA KOPERASI SERBA USAHA WANITA NEKMESE SEJAHTERA KABUPATEN TTU

Cooperatives are business entities formed by members of people on the basis of common interests. Members raise capital in the form of basic, mandatory, voluntary savings, which are managed efficiently. The capital raised is managed honestly, efficiently and responsibly. The use of capital must be efficient by considering the level of liquidity and profitability. To assess financial performance, an analysis is carried out to describe the performance of healthy management or vice versa. Liquidity describes the ability to pay off debts that are repaid immediately. Profitability describes the ability to use capital to make a profit. The higher the profit, the better the health of the cooperative, and vice versa. The results of the analysis in the last three years (2018, 2019, 2020) show that Liquidity is in poor criteria both from the Current Ratio aspect and the Quick Ratio aspect . Meanwhile, from the profitability aspect, both the Return Of Investment aspect and the Return Of Equity aspect are in good condition

Techno-economic analysis of a novel full-chain blast furnace slag utilization system

As the main solid waste in the iron and steel industry, the waste heat recovery and comprehensive utilization of blast furnace slag had great significance for energy conservation and sustainable development. This paper proposed a novel full-chain blast furnace slag utilization system to solve the problem of waste heat recovery and high value-added production. Cascade recovery of slag waste heat was realized by using coal gasification reaction and the waste heat recovery ratio reached 73.61%. Meanwhile, two kinds of high value-added products of X-type zeolite and hydrotalcite-like compounds were synthesized simultaneously by using the beneficial components of blast furnace slag after fully recovering waste heat. Ultimately, the economic feasibility of the system was analyzed from two aspects of investment and profit. Under the reasonable economic assumptions, payback period of the project was 0.14 years, 10-year net present value was $ 326493.98 million, return on investment and internal rate of return were 737.74% and 312.82%, respectively. Through sensitivity analysis, the project could still be profitable in the production year under the condition that the sensitive factors of the system fluctuated within 40%. With great economic benefit and anti-risk ability, the novel full-chain blast furnace slag utilization system had potential in energy saving and emission reduction of iron and the iron and steel industry and the prospect of large-scale application.

Problems and Prospects of the Development of the Recreational and Tourist Spheres of Lviv Region under European Integration Conditions: Investment Aspect

The article examines the problems of the development of the recreational sphere of Lviv Oblast under the conditions of European integration. Prospects for their development and investment aspects are highlighted. The dynamism of the volume of capital investment in the sphere of recreation in the Lviv region for 2010-2020 was analyzed. The work developed the organizational and management mechanism of state management of the recreational sphere under the conditions of European integration. This mechanism should be provided both at the macrolevel and at the level of regions (microlevel) and take into account the peculiarities and requirements of international (in particular, European) requirements and norms. Favorable prerequisites thanks to the further European integration of the Ukrainian economy are analyzed. Priorities for state and regional policies regarding the improvement and improvement of the planning (programming) system, more effective use of the existing tourist, recreational, natural, resource and other potentials of the entire territory of Lviv region have been identified. Investing in the spheres of recreation and tourism of Lviv Oblast and other regions (oblasts) of our country under the conditions of intensification of development, acceleration of European integration processes is a real opportunity for starting, stimulating the effective development of already existing entrepreneurship in the tourism and recreation industries, increasing the role and importance of small and medium-sized enterprises in it business, etc. It will also encourage the development of related sectors of the economy that provide recreation and tourism. Keywords recreation, tourism, European integration, investment.

Investment Model of Agricultural Biogas Plants for Individual Farms in Poland

The main idea of a circular economy (CE) is to separate economic growth from resource consumption and environmental impacts. The characteristic approach of a CE assumes the minimisation of the amount of waste generated at the design level and, as a standard, includes innovations throughout the value chain. From an agricultural point of view, agricultural biogas plants are particularly important because they enable the management of all waste biomass and its conversion into useful energy and agricultural fertiliser. This paper presents methods for assessing the economic effectiveness of an investment in an agricultural biogas plant. The research goal was to develop a financial model. The authors of this study used available examples of the profitability of commercial ventures. We considered the investment aspects of agricultural biogas plants. Exemplary solutions are discussed, allowing the reader to become acquainted with various methods and proposals for thus far estimated investments. It may seem chaotic, but this is how the biogas market is characterised in the context of the implementation of biogas projects. Guidance is given regarding how to understand investing in this sensitive private farming sector. It is admirable that the renewable energy market has been systematised, and we hypothesise that it is necessary to develop an investment model in Polish conditions.

The impact of investment in human capital on bank performance: evidence from Bangladesh

The objective of this study is to examine the aspects of investment in human capital like training of employees, education level of employees, knowledge level of employees, and skills of employees that influence the performance of a bank and to provide some comments to improve the banking sectors. This research included a conceptual model along with hypotheses. This empirical study is based on primary data. The data were obtained by the convenient sampling procedure with a questionnaire using the seven-point Likert scale. The hypothesized model has been validated using data from 261 participants, and an analysis was conducted using the system of structural equation modelling. The results revealed that investment in training, knowledge level and skills of the employee were positively connected to bank performance at less than 1% and a 5% level of significance. But the employee’s educational level does not substantially affect bank output in this analysis. The focus field is the study of the human capital investments of the Human Resources Division at Janata Bank Limited. It investigates different aspects of the Janata Bank’s facilities as well as the problems and prospects. Thus, this study can be a policy dialogue for the managers, owners, decision-makers, and academicians.