Asset Composition Research Articles

Unveiling the effect of non-performing loans on lending behaviour: Evidence from Vietnam’s banking system

This study shows how non-performing loans (NPLs) and other variables specific to banks affect loan growth and the risk-weighted composition of assets in the Vietnamese banking sector. We use a large panel dataset of Vietnamese commercial banks from 2008 to 2022 and different econometric estimators to look at how NPLs, loan loss provisions (LLPs), and bank-specific factors affect how banks lend money. Additionally, we conduct a sensitivity analysis to bolster the robustness of our empirical findings. Our analysis reveals a statistically significant inverse relationship between NPLs/LLPs and loan growth rates, underscoring the critical role of effective credit risk management. Furthermore, institutional characteristics such as bank size, liquidity position, profitability metrics, and tangible asset ratios substantially influence lending patterns and risk exposure. Conversely, macroeconomic and broader institutional factors demonstrate mixed effects, with many exhibiting statistical insignificance. This study addresses a notable gap in the extant literature concerning the determinants of bank lending behaviour in Vietnam, offering nuanced insights into the role of credit risk indicators and bank-specific attributes. Our findings yield substantial implications for regulatory bodies, policymakers, and banking executives in their pursuit of enhancing the stability and operational efficiency of Vietnam's financial system. By elucidating these relationships, our research contributes to the ongoing discourse on banking sector dynamics in emerging economies. It provides an empirical foundation for informed decision-making in financial policy and risk management strategies.

Financial Portfolio Analysis of Single Households: Monthly Saving and Financial Assets

The purpose of this study was to analyze the financial portfolios of single-person households. For the analysis, data from the Korean Labor Panel Survey (2021) was utilized, comprising 2,905 single-person households. The major findings are as follows: First, the proportion of households with monthly savings was 32.0%, while the proportion of households holding financial assets was 72.1%. Second, regarding the composition of monthly savings, single-person households predominantly held savings accounts (93.3%), followed by insurance (4.7%), with cumulative funds at a mere 0.8%. The composition of financial assets showed that the majority were in bank deposits (78.5%), followed by risk management assets (18.0%), and investment assets (2.4%). Third, multivariate analysis results revealed that younger age, higher education level, and better financial factors were associated with a higher probability of having monthly savings. The results for financial assets were largely similar, with females showing a higher likelihood of asset possession compared to males. Fourth, the proportions of both bank savings in total savings and insurance generally had opposing effects. Fifth, age group had the greatest influence on the proportions of safety and insurance assets, followed by income group. Middle-aged households had lower proportions of safety assets but higher proportions of insurance assets compared to young households, while the opposite trend was observed for elderly households. Middle-income households had higher proportions of insurance assets compared to low-income households, whereas high-income households had higher proportions of investment assets. Lastly, cluster analysis categorized single-person households' financial portfolios into five groups: Group 1 (32.2%): "Old-Sustain" characterized by insufficient current income but economically stable retirement. Group 2 (29.4%): "Financially Active" engaging in various financial activities due to relatively high education and employment rates. Group 3 (28.0%): "Financially Inactive" classified as elderly groups with minimal financial activities. Group 4 (9.1%): "Risk Financial Structure" consisting of relatively young individuals focused on risk management assets but facing issues in financial asset management due to high-risk assets and financial loans. Group 5 (1.3%): "Stable-Insurance Oriented" with high financial assets and income concentrated in insurance for both savings and financial assets.

Homeownership and portfolio choice in later life

ABSTRACT Taking advantage of a unique match of individual and regional level data, we estimate the effect of home value on the composition of financial assets among a sample of German homeowners aged 50 + . Home values are found to be positively correlated with the probability of owning stocks and mutual funds and with the proportion of the portfolio invested in these assets. IV estimates suggest that on average 100k euro of housing wealth increases the probability of owning stocks or mutual funds by about 3 percentage points and the proportion of these in the portfolio by 1.5 p.p.

Ratio Analysis of Axis Bank

This report presents a thorough examination of AXIS Bank's financial performance utilizing ratio analysis as the primary tool. Ratio analysis offers a quantitative method to assess the bank's financial health and operational efficiency by comparing key financial metrics over time and against industry benchmarks. The analysis begins by evaluating AXIS Bank's current ratio, which measures the proportion of current assets to current liabilities. A higher current ratio indicates a greater ability to cover short-term obligations, suggesting a healthy liquidity position. Conversely, a lower ratio may raise concerns about liquidity risk. In the case of AXIS Bank, the current ratio analysis reveals a robust position, indicating a prudent allocation of resources towards current assets. Furthermore, the report explores the quick ratio, also known as the acid-test ratio, which provides a more stringent assessment of liquidity by excluding inventory from current assets. This ratio helps determine the bank's ability to meet short-term obligations without relying on inventory liquidation. Comparing the quick ratio with the current ratio provides additional insights into the composition of AXIS Bank's current assets and its liquidity management practices. Additionally, the analysis considers the fixed/worth ratio, which assesses the proportion of fixed assets financed by owner's equity. A higher fixed/worth ratio suggests greater reliance on equity financing for fixed asset investments, indicating a lower financial risk. Conversely, a lower ratio may signal higher leverage and potential financial vulnerability. Evaluating this ratio provides valuable insights into AXIS Bank's capital structure and risk management strategies. Furthermore, the report examines the cash flow statement to assess the bank's cash generation and utilization across operating, investing, and financing activities. Analyzing cash flow patterns helps identify trends in cash generation, liquidity management, and investment decisions. In the case of AXIS Bank, the analysis reveals a positive trend in cash generated from operating and financing activities, indicating healthy cash inflows. However, negative cash flow from investing activities warrants further investigation into the bank's investment strategies and capital expenditure decisions. Overall, this comprehensive analysis of AXIS Bank's financial ratios and cash flow dynamics provides valuable insights into the bank's financial position, liquidity management, and operational efficiency. The findings offer a basis for strategic decision-making and recommendations to optimize performance and ensure sustained growth and stability..

The Distinction of Evaluation on Companies in Different Fields

This paper explores the variations in Return on Equity (ROE) and Price-to-Sales Ratio among publicly traded companies across different time periods and market capitalizations. The analysis employs Linear Regression and Correlation Coefficients to examine the relationships between ROE, Price-to-Sales Ratio, Market Capitalization, and economic conditions during these periods. The findings reveal that Price-to-Sales Ratio serves as a reliable indicator of a company's market capitalization. Furthermore, companies within the same industry exhibit substantial disparities in Market Capitalization, ROE, Price-to-Sales Ratio, Price-to-Earnings (P/E) Ratio, and PEG Index due to differing corporate strategies and backgrounds. For instance, in the new energy sector, both BYD and NIO display a negative correlation between market capitalization, while Tesla contradicts this trend. This discrepancy is attributed to internal factors such as asset composition, liabilities, and shareholder structure, which significantly influence a company's financial performance. The Market Capitalization of these new energy companies is predicted to rise due to global interest in AI technology, with technology companies being at the forefront of AI development. In the technology sector, companies like Google have solidified their positions by advancing AI concepts. New entrants, like Apple, combining Artificial Intelligence and Robotics, are gaining consumer support, indicating potential Market Cap. growth. The fashion industry also demonstrates distinctive strategies, with companies like NIKE, Adidas, and Anta focusing on sustainability and carbon neutrality. Therefore, future company evaluations should consider both financial indices and a company's long-term vision and sustainability practices to predict their future value effectively.

The hard impact low probabilities’ impacts on power distribution system economy

Electricity distribution systems benefit customers, investors, and operational managers economically. However, natural hazards pose significant risks to these networks, contributing to economic instability. This study assesses the impact of low-probability, high-impact events, particularly storms, on asset management and lifespan within the electricity distribution industry. By introducing three key indicators—rate of return, service rate, and cost per asset—the research investigates how different assets respond to various risks. Each asset has a distinct threshold for risk tolerance, which diminishes as its lifespan increases. Utilizing a cost model and analyzing breakpoint curves, the study evaluates the effects of high impact and low probability (HILP) incidents on the indicators mentioned earlier, factoring in asset composition changes. The study assesses the impact of storms with varying intensities on a sample network by formulating economic relations and allocating budgets for HILP events across different network conditions. Results highlight the allocation of budgetary resources for securing assets of different ages within the network. Furthermore, sensitivity analysis explores how changes in network expansion coefficients and failure rates influence these factors. Notably, findings reveal that systems with slower development rates exhibit greater asset resilience; as demonstrated in scenario 3, the assets are strengthened from a 70-year life to a 6-year life for a 145 km storm.

Risk assessment for synthetic GICs: a quantitative framework for asset–liability management

AbstractThis study addresses a research gap in quantitative modeling framework and scenario analysis for the risk management of stable value fund wraps, a crucial segment of the U.S. financial market with over USD $400 billion in assets. In this paper, we present an asset–liability model that encompasses an innovative approach to modeling the assets of fixed-income funds coupled with a liability model backed by empirical analysis on a unique data set covering 80% of the stand-alone plan sponsor market, contrasting with models based solely on regular deterministic cash flows and interest rate differences. Our model identifies and analyzes two critical risk scenarios from the insurer’s perspective: inflationary and yield spike. Our approach demonstrates that the tail risk of wraps, used as an economic capital measure, is sensitive to characteristic parameters of the fund, such as the duration, portfolio composition and credit quality of assets. This finding significantly differs from U.S. regulatory approaches like the NAIC’s, which often result in a zero capital requirement. These findings reveal limitations in current actuarial risk and profitability metrics for U.S. insurers and argue that a more sophisticated risk model reproducing the two critical scenarios is necessary.

ESSENCE AND RESULTS OF THE "ONE-TIME (SPECIAL) VOLUNTARY DECLARATION BY INDIVIDUALS OF THEIR ASSETS"

Goal. To analyze the Law of Ukraine dated 15 June 2021 No. 1539-IX "On Amending the Tax Code of Ukraine to Stimulate the De-Shadowing of Incomes and Enhancing the Tax Culture of Citizens Through Introduction of Voluntary Declaration by Individuals of Assets Belonging to them and Payment of One-Time Dues to the Budget" [14] and the results of the "declaration of assets" carried out from 1 September 2021 to 1 March 2023. Methodology. To achieve the desired goal, the author used the methods of analysis (isolation of individual parts of the object of research), synthesis (combination of various elements into a single one), comparison (identification of similarities and differences), problem solving (posing difficult questions and finding answers to them), objectivity (impartiality in the selection and analysis of various sources), generalization (highlighting of common characteristics and features). The results. The study established that the "one-time (special) voluntary declaration" combines features of "tax amnesty", "capital amnesty" and "zero declaration". The law itself, in some of its parts, is imperfect and contains norms that violate the principles of equality and social justice. Only 845 people used the right to submit a declaration while the law was in effect. The scientific novelty consists of the analysis of de-shadowing of incomes and replenishment of the state budget (only about 1.5% of the expected revenues were received). At the same time, the author is convinced that there is no need to talk about a "complete failure of declaration". After all, the law is written in such a way that although the majority of citizens did not submit a special declaration, the "composition and volume of assets" as of 1 March 2023 has already been declared, regardless of whether they were acquired with violations or not - in fact, Ukraine implemented "zero declaration" for all citizens. "Zero declaration" sooner or later will become a kind of reference point and in the future will be taken into account by tax authorities during financial monitoring, which should result in taxation of expenses that exceed official income and, possibly, the appearance of misunderstandings between taxpayers and tax authorities. Practical significance. The research contributes to the identification of taxation problems, individual results and conclusions that can be used in the process of further reforming tax legislation and conducting fiscal policy.

Non-financial assets: Composition and qualification description

Subject. This article examines the composition and classification of non-financial assets in State-funded (municipal) and autonomous institutions. Objectives. The article aims to develop an original approach to the construction of classification characteristics of non-financial assets as an object of accounting in State-funded (municipal) and autonomous institutions. Methods. For the study, we used the methods of comparison, systematization, and data generalization. Results. The article systematizes the composition of non-financial assets of organizations, presents an author-developed classification of non-financial assets based on the methodological approaches of the System of National Accounts, and summarizes information on the composition of non-financial assets in accordance with the requirements for the formation of the balance sheet and the Unified Chart of Accounts for public sector organizations. Conclusions and Relevance. The study of the composition and qualification characteristics of non-financial assets in State-funded (municipal) and autonomous institutions contributes to the development of the public sector of the economy through effective management of the property and resources of institutions. The results of the study can be applied both in theory and practice in the field of development of non-financial assets in State-funded (municipal) and autonomous institutions.

CAPITAL STRUCTURE MODEL (Empirical Study on IDX 2020-2022)

The food and beverage industry are constantly evolving and shaped by consumer preferences, making it crucial for companies to consider the various factors that impact their revenue streams. Analyzing the structure of a company's assets and the rate of its sales growth are crucial factors to consider, as they greatly influence the financial management practices of the company. Asset structure means what a company owns, and sales growth shows if the company is making more or less money. The aim of this research is to examine how the capital structure is influenced by asset structure, sales growth, and the role of profitability in mediating this connection. The study utilized a quantitative research methodology. The research population consisted of companies in the food and beverage subsector on the IDX from 2020 to 2022. A total of 23 companies were selected as the sample over a 3-year period, resulting in 69 data points using purposive sampling technique. The data analysis involved multiple linear regression analysis with the assistance of SPSS version 17. The study's results show that both the composition of assets and the growth in sales have a favorable and noteworthy influence on the structure of capital. Additionally, profitability plays a role in connecting the asset structure with the capital structure, as well as linking sales growth with the capital structure.

Demographic shrinkage promotes ecosystem services supply capacity in the karst desertification control

Although ecological services have been improved in karst desertification control areas, it is still unclear how population shrinkage affects ecosystem service supply capability through ecological assets. In this study, Theil-Sen median, regression analysis, and variance partitioning were applied to explore the linkages of population change (observed data and shared socioeconomic pathways 1-representative concentration pathways 2.6), ecological asset composition (land use), quality (Normalized difference vegetation index [NDVI] and tree height), and ecosystem services in different periods (population growth and decline periods). The results showed that the population change during the growth period (2000–2038) was dominated by migration patterns. In degraded ecoregions (karst desertification) dominated by population out-migration, the net expansion of forest was 15.88 % during 2000–2020, NDVI and tree height increased by 0.57 % and 54.96 %, and ecosystem service supply capability increased by 2.68 %. In contrast, in non-degraded ecoregions (non-karst and karst non-desertification) with population in-migration, change rates of forest (−5.40 % and − 23.68 %), NDVI (0.49 % and 0.53 %), tree height (−8.35 % and − 31.25 %), and ecosystem service supply capability (2.04 % and 2.18 %) were apparently lower than degraded ecoregions. During the population decline period (2039–2100), although the migration pattern between two regions during the growth period was replaced by a population drop within a single region, the positive correlation between population shrinkage with ecological assets and service supply capability was still followed. Overall, the study found that both ways of population shrinkage that involve out-migration and decline can alleviate the land pressure of degraded ecoregions, which enhances ecosystem service supply capability by regulating ecological assets.

Changes in adult well-being and economic inequalities: An exploratory observational longitudinal study (2002–2010) of micro-level trends among Tsimane’, a small-scale rural society of Indigenous People in the Bolivian Amazon

Knowing what happens over time to the lifeways of people in contemporary small-scale non-industrial societies of the rural Global South matters because it helps assess changes in the quality of life of underrepresented groups. It has been hard to answer the question because longitudinal information is rarely collected in such settings. A longitudinal dataset of nine years (2002–2010) from a horticultural-foraging society of Indigenous People in the Bolivian Amazon (Tsimane’) is used for an exploratory analysis of micro-level trends in indicators of well-being and economic inequalities. We selected 13 Tsimane’ villages (from ∼ 100) that varied in proximity to town and surveyed all households in each village. ∼ 240 households were followed yearly to estimate trends of 21 outcomes (e.g., income, sociality, macronutrients). For each economic outcome, annual and all-years-combined Gini coefficients were estimated for the entire sample across the 13 villages. We show a rise in total asset wealth, a change in asset composition (less traditional wealth, more commercial wealth), higher monetary value of foods eaten, and better-perceived health, but a decline in caloric and protein consumption and no marked gender differences in objective or hedonic measures of well-being. Economic inequalities were non-trivial and showed no marked trend but varied between years; asset inequality varied less than income inequality. We document the value of longitudinal, locally grounded indexes of well-being to obtain a granular view of micro-level changes in well-being and the possible use of inequality in the consumption of calories and macronutrients as a valid proxy for income inequality in rural areas of the Global South with tenuous links to the market economy.

The role of knowledge assets and corporate social responsibility in creating firm value

The purpose of this paper is to investigate how knowledge assets and corporate social responsibility jointly influence the market value of a firm. In the contemporary knowledge-driven economy, where competitive advantage is based on intangible and intellectual capital, this paper emphasizes the strategic significance of knowledge assets, open innovation, and sustainable development practices in creating and maximizing market value. By employing multiple regression analysis on panel data for ten financial years, the study examines the optimal composition of knowledge assets and the impact of CSR initiatives on firm value. Key findings highlight a crucial threshold leading to the peak of market value, approximately when knowledge assets account for about 36% of a firm’s total non-current assets. Further, this study demonstrates that maintaining a balance between internally developed knowledge assets and external acquisitions significantly enhances value, correlating with the cultivation of a capitalization ability. Finally, this paper shows that corporate social responsibility emerges as a substantial driver of generating firm value, suggesting that integrating these practices into corporate strategic decisions not only aligns with ethical goals but also enhances market valuation. The insights from this study offer valuable perspectives for both academic researchers and industry professionals, advocating for a well-balanced approach to corporate asset management and underscoring the strategic importance of incorporating corporate social responsibility.

Assets Management and Financial Performance of Listed Consumer Goods Manufacturing Companies in Nigeria

The increasing shift in asset composition toward intangible components coinciding with a substantial decline in asset tangibility of companies across the globe has escalated extensive discourse among researchers in the developed economies. The aim of this study is to evaluate the effect of assets management on financial performance of the Nigeria’s consumer goods manufacturing company. The specific objectives of this study were to evaluate the effect of assets turnover ratio, assets tangibility ratio, intellectual assets ratio on return on assets of the selected consumer goods manufacturing companies in Nigeria. The study adopted an ex-post facto design. Data were generated from the audited financial reports of the seven selected listed consumer goods manufacturing company from 2012-2022. Panel multiple regression technique was employed to analyze the data using Stata 14.2. The study found that assets turnover ratio and assets tangibility have significant positive and negative effect on return on assets with t-statistics and (p-values) 2.04 (0.045) and -3.20 (0.013) respectively whereas intellectual assets ratio exerted a non-significant positive effect on return on assets with t-statistics and (p-values) 1.29 (0.232). These results imply that the shiftability concern is negligible in the listed consumer goods manufacturing companies in Nigeria. However, the proportion of tangible assets seems to have over-stretched beyond the optimal level, thereby impacting negatively on their financial performance.

КОМПЛЕКСНИЙ АНАЛІЗ ІНВЕСТИЦІЙ В ІННОВАЦІЇ БАНКІВСЬКИХ УСТАНОВ В КОНТЕКСТІ ЗАБЕЗПЕЧЕННЯ ЇХ ФІНАНСОВОЇ БЕЗПЕКИ

The article addresses the issue of various factors and threats impacting the operations of banking institutions, particularly their financial security. Through the application of correlation analysis, the macroeconomic determinants of banking system functioning and national economy are identified. The authors of the article formulate research objectives aimed at a comprehensive analysis of investments in innovation by commercial banks and their impact on the development of banking institutions. The main material reveals the composition and characteristics of non-material assets of commercial banks, which are considered as investments in innovation. The authors propose an algorithm for evaluating the level of innovation-investment security of banking institutions, which includes investment analysis and determination of security type. The toolkit of economic-mathematical modeling is utilized to establish dependencies between investments in innovation and banking activities' outcomes. Using the example of two banks - "PrivatBank" and "Lviv", the dynamics of investments in innovation and their impact on security are analyzed. The article examines the dynamics of innovation investments in two banks, PJSC CB "PrivatBank" and PJSC CB "Lviv", during the period from 2015 to 2022. Various econometric models are applied to study the relationship between investments and various financial indicators. According to the analysis, innovation investments in the bank "Lviv" increased by 31,62 times over the analyzed period, compared to the base year 2015. Compared to "PrivatBank", the growth of such investments was 7,74 times. Calculations also showed that the growth rate of innovation-investment resources of PJSC CB "Lviv" significantly exceeds the growth rates of such resources of PrivatBank. Regression models were used to study the relationship between investments and financial results of the banks. It was found that the size of investments in innovation plays an important role in increasing the bank's assets and capital, and may also affect its profit and profitability. The analysis also showed that the excess level of innovation investments in PJSC CB "Lviv" compared to PrivatBank is 4 times. The conclusions of the article confirm the importance of investments in innovation to support the dynamic development of the banking system.

Pengaruh rasio keuangan alam mendeteksi kecurangan laporan keuangan: Perusahaan consumer non-cylicals di Bursa Efek Indonesia tahun 2018-2021

The study aims to analyze Leverage (debt to equity & debt to asset), Profitability (gross profit margin), Asset Composition, Liquidity (Current Ratio), and Capital Turnover affect Financial Statement Fraud. The population used by non-cylical consumer companies listed from the Indonesia Stock Exchange (IDX) in 2018-2021. The sampling technique of this study is by purposive sampling. This study used multiple regression and IBM SPSS. Secondary data includes annual financial statements. The results of the writing concluded that debt to equity, debt to asset, gross profit margin, Asset Composition did not have a significant effect on financial statement fraud. Current Ratio and Capital Turnover have a significant negative effect on financial statement fraud.

Walmart's Business Strategy and Financial Analysis Based on Porter's Five Forces Analysis Model and SWOT

As one of the world's largest retailers, Walmart holds a crucial position in the retail industry. This article conducts an analysis of Walmart's operational performance to gain an in-depth understanding of its competitive position in the global retail market and identify potential growth opportunities and challenges. Focusing on industry analysis, company strategy, and comprehensive financial performance analysis of Walmart, the study employs SWOT analysis, value chain analysis, and Porter's Five Forces model to dissect Walmart's strategic and asset composition changes, shedding light on its profitability. While Walmart has consistently experienced revenue growth, it faces challenges in maintaining profitability. The debt-to-equity ratio displays a positive trend, indicating a balanced capital structure. However, the liquidity ratio has slightly decreased, warranting attention. The article recommends optimizing inventory management, strengthening digital marketing efforts, and prudently managing long-term debt to enhance Walmart's financial performance and competitive advantage. This article conducts a study of Walmart's operational performance within the retail industry, aiming to provide insights and support for investors and decision-makers in making strategic choices.

Pengaruh Struktur Modal Struktur Aktiva dan Likuiditas terhadap Profitabilitas pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia

The purpose of this research is to describe the effect of financial structure, asset composition, and liquidity level on the profits of manufacturing companies listed on the Indonesia Stock Exchange. Over a period of 24 months, 78 companies in the manufacturing sector suffered losses due to sampling. It was successfully studied that the impact of asset structure on profitability was not significant, the impact of capital structure on real profitability, and liquidity had a significant impact on manufacturing companies based on this study.
 Keywords: Capital Structure, Asset Structure, Liquidity, Profitability

Computational framework for the evaluation of the composition and degradation state of metal heritage assets by deep learning

The accurate assessment of the material constitution and degradation in newly discovered archaeological artefacts is paramount for the decisions surrounding a thorough treatment of the object during the restoration and conservation stages. The laboratories possess competent experts and complex devices to perform this analysis properly. Nevertheless, a timely hint of an artificial intelligence assistant regarding the chemical composition and corrosion compound localization of a metal asset could save additional time and resources. The present paper proposes such a computational framework based on deep learning techniques that, on the base of its automatic determination of the chemical concentration of the predominant metal from a microscope image, can subsequently independently also recognize and delineate the corrosion spots of the products specific to that metal. The experiments have been performed on iron and copper heritage items from the Oltenia Museum, Romania. The results suggest that, even with an economic training information in terms of microscope images and annotations, the artificial intelligence framework can provide on-site support for an early examination of metal heritage assets.

An Effectiveness Analysis of Financial Educational Programs in Ngipik Village, Kulon Progo Yogyakarta

Financial education is part of the approach for mitigating the effects of unanticipated financial problems. Financial education is important not only for businesses, but also for households and individuals. However, research concentrating on financial education are scarce as compared to financial planning in practice, such as investment, retirement or saving references. Financial education is, ideally, a prerequisite for financial planning skill. In our scenario, for example, residents in Ngipik village are illiterate and admit to lacking financial literacy knowledge. As a result, this article seeks to assess the effectiveness of a month-long financial education program aimed primarily at children, youth, and society in general. The results show that 72% of the targeted objects are satisfied with the programs and that they are successful in improving their financial literacy, particularly financial planning. This program, however, did not teach them using an algorithm that can recommend the ideal composition of assets gathered in order to preserve their life sustainability.