Financial Parameters Research Articles

Robust synchronization of four-dimensional chaotic finance systems with unknown parametric uncertainties

ABSTRACT The inherent randomness in economic factors causes complex and irregular behaviour that affects financial system stability and economic growth. Such chaotic behaviour can make it difficult to synchronize financial systems. The chaotic finance system synchronization precision maintains financial stability and economic growth. In this paper, the controller design procedure assumes that the financial system is exposed to unknown bounded exogenous disturbances and model uncertainties. This research proposes a novel direct adaptive control strategy that achieves robust synchronization of two identical four-dimensional finance chaotic (FDFC) systems. The proposed controller establishes a faster, smoother synchronization error vector convergence to zero. The controller design procedure does not eliminate the closed-loop's nonlinear terms and is independent of the financial system parameters. These controller's attributes accomplish the closed-loop robust performance. Further, this controller uses real-time estimates of unknown model uncertainties and bounds to compensate for unknown exogenous disturbances. Computer simulation results and proofs of theoretical analysis based on the Lyapunov stability theory confirm that the proposed control technique compels the error vector trajectories to the origin in a short transient time with less active oscillations for all signals. The paper includes comparative computer simulations for verifying the theoretical findings.

High technologies and artificial intelligence as driving factors in the evolution of the world financial and economic architecture

The current dynamics of the development of the world economy is gaining new momentum despite the high crisis dynamics, containing financial, economic, monetary and geopolitical parameters. The factors accelerating the transformation of the global financial and economic architecture (GFEA) are high technologies, including the digital economy and artificial intelligence. The purpose of the study is to study the dynamics of the development of high technologies and its contribution to the evolution of the global financial and economic system. To conduct this analysis, the work uses a wide range of different scientific methods and approaches - the methodology of system analysis, methods of historical, logical and comparative analysis. Technologies are analyzed according to seven groups of impact on the GFEA transformation process: blockchain technologies, 3D printing, the Internet of Things, mobile broadband, cloud computing, robotics, and artificial intelligence. Their economic contribution to the processes under study is given. The activities of the Singularity University are considered as an example of a transnational think tank engaged in scientific and applied synthesis of high technologies, analysis of their prospects and consequences of their influence on the life of society. Proceeding from this, the contours of the further development of the GFEA and the strategies of behavior in the new conditions are given.

Resilient and sustainable global COVID-19 vaccine supply chain design considering reverse logistics

This study proposes a multi-mode, multi-product, and multi-objective optimization model to design a resilient and sustainable global COVID-19 vaccine supply chain network under operational risks. The network includes a forward chain for vaccine supply, production, and distribution and a reverse chain for vaccine waste management. The objective functions comprise minimizing the total network costs and environmental pollution caused by the waste of vaccination centers and the transportation between facilities, as well as considering social impacts (maximizing regional development and the effect of domestic vaccine production on self-sufficiency, and minimizing the impact of vaccine side-effects). Resilience strategies are employed to deal with the disruption risks in different facilities and transportation links of the chain, including multiple sources of raw material supply, vaccine production and distribution, and waste management facilities; import; multiple transportation modes and different vehicles in each mode; inventory holding; capacity expansion; transshipment; and fortification of facilities. Financial parameters, including exchange rate and international transport insurance for importing raw materials and vaccines, are also considered in the presented model. An actual-world case study in Iran is conducted to indicate the model's applicability. Finally, by analyzing the computational results, important research implications are presented. The analyses investigate the conflict of objectives, examine the impact of vaccine side-effects on production and import, assess the efficiency of resilience strategies in the face of disruptions, demonstrate the effect of disruptions on network components, and determine suppliers' share for the supply of raw materials.

The implementation of accounting information systems on the stock return and financial performance based on information technology (IT)

This study investigates the influence of Accounting Information Systems (AIS) on stock return and financial performance. When it comes to organizations, AIS play a crucial part in the process of acquiring, processing, and communicating financial information. The efficient functioning of AIS has the potential to impact stock returns and overall financial performance, making it an essential area of research. The study employs a comprehensive analysis of relevant literature, empirical data, and statistical techniques to examine the relationship between AIS and stock return as well as financial performance. The findings of this study aim to provide insights into the extent to which AIS influences stock return and financial performance. A positive relationship between a well-functioning AIS and stock return is expected, given the importance of accurate and timely financial information in investors' decision-making process. Financial performance parameters including profitability, efficiency, and liquidity are all expected to benefit from a robust AIS. There are major practical and theoretical ramifications of this study. Companies may benefit from better decisions on AIS improvements, maintenance, and rollout if they have a firm grasp of how AIS affects stock performance and overall financial results. According to the data, the efficacy of the accounting information system based on IT has a P value of –0.009, while its t value is equal to 0.027. According to the findings, the return on assets (ROA) has a P value that is equal to –0.592, while its t value is equal to 0.13. Further, AIS's significance in evaluating a firm's financial health and making investment decisions may be better understood. As a result of analyzing how Accounting Information Systems affect stock return and financial performance, this study adds to the current body of information. The results will enhance our understanding of the role of AIS in shaping investment outcomes and financial success.

Evaluation of residential stand alone photovoltaic systems in mega cities of the world

ABSTRACT Growing concerns about the climate change accompanied with energy crisis due to the unrest in the world have pushed the energy market to utilize sustainable and secure alternatives such as solar photovoltaics (PV). However, for residential consumers, the primary concerns are the reliability of the supply and the cost of PV-generated electricity. This study reports on the economic feasibility and technical analysis of PV systems in megacities worldwide. Nine mega cities, Beijing, Berlin, Istanbul, London, New Delhi, New York, Paris, Seoul, and Tokyo, have been selected based on their significant population sizes and the pronounced demand for electricity independence among residents. The annual production, load matching, and PV-electricity and battery dispatch are discussed, with Lazard's levelized cost of electricity (LCOE) and net present value (NPV) employed as economic indicators. While calculated LCOEs ranged from $0.084/kWh to $0.27/kWh across different cities, the NPVs were predominantly negative, varying approximately between –$2,000 and –$20,000, with Berlin as an exception. Finally, a sensitivity analysis was conducted, revealing that the LCOE is more sensitive to financial parameters than to module efficiency and irradiation.

Managerial decisions in syndicated lending

The syndicated lending market is one of the main financing sources for the development of the Russian economy. This article is dedicated to the processes managerial decision-making within the framework of syndicated lending transactions by borrowers, lenders and investors. Thanks to the use of market tools, borrowers get the opportunity to form an optimal structure for solving various tasks of corporate finance. Taking into account the adoption of managerial decisions by borrowers, the analysis of the following options for such decisions is presented: the choice of a bank for the role of a credit manager and the appointment of a legal adviser to the borrower. Lenders of syndicated lending transactions, making decisions on participation in transactions in the primary syndicated lending market, use the opportunity to share the specialized risks of syndicated transactions within the syndicate. Decisions that are made by the lenders include determining the commercial terms of participation in a syndicated loan in the primary market and approving these terms in accordance with the bank’s business processes. Investors active in the secondary syndicated lending market form their portfolios by making decisions regarding the following financial parameters of their transactions: the amount of the acquired/assigned interest in the syndicated lending participation and the transaction price. The paper concludes The article concludes that it is important for syndicated lending market participants to make optimal decisions, taking into account the role of market instruments in financing development projects of Russian corporations.

Techno-economic analysis of H2@Scale production from organic municipal solid waste

Environmental sustainability entails alleviating a multitude of challenges including the minimization of waste and associated carbon emissions. The emergence of Green Hydrogen (H2) utilization is considered a promising groundbreaking initiative for the transition toward a low-carbon economy. While the concept of energy recovery from waste is not novel, its practical implementation remains questionable at times. This study examines the technical and economic viability of scaled H2 production from the organic fraction of municipal solid waste, through an in-depth techno-economic and cost-benefit analysis. The results demonstrate that the H2 yield obtained exclusively from plastic waste exceeds that from mixed-feed waste by ∼ 24.5 %. Equally significant, the LCOH stands at ∼$4.96/kg-H2, inclusive of CO2 capture and storage charges, while decreasing to $4.10/kg-H2 when excluding such charges. The integration of previously overlooked key macro and micro-economic and financial parameters has facilitated a more nuanced and practical evaluation of the levelized cost of H2, allowing for a fair comparison with the current market cost of blue H2.These findings are of significance for investors and decision-makers operating within the realm of ecological sustainability and energy transition, while concurrently serving as an indispensable benchmark for the formulation of sensible waste management policies.

Effects of Debtors’ Management on Financial Performance of Savings and Credit Cooperative Organizations in Nandi County, Kenya

Savings and Credit Cooperative Organizations (SACCOs) are key components of the economy and social development. However, it’s experiencing both internal and external issues that should be handled. The study attempted to identify the effects of business financial parameters on the performance of SACCOS in Nandi County. Specifically, the study investigated the effects of the management of loan debtors on the financial performance of SACCOs in Nandi County. The study was guided by liquidity preference theory, human capital theory, efficient structure theory, and Pecking order theory. The study used a descriptive research design to examine all the influences on financial performance. The target population was therefore all the ten SACCOS in Nandi County registered and licensed as of January 2023, where eighty-seven employees were randomly sampled to participate. The primary sources of data collection used in data collection were structured questionnaires as the main tool. Content validity was used to determine the validity, while Cronchbach’s alpha coefficient was used to determine the reliability of the research instrument. The data was analyzed using both descriptive and inferential statistics. For descriptive statistics, tables and narratives were used, and for inferential statistics, correlations and regression analyses were used. The Statistical Package for Social Sciences software (SPSS) helped with data analysis. The study findings indicated that there was a positive and significant effect of loan debt management on the performance of Saccos in Nandi County (t = 9.833, P < 0.05). The study recommended that Sacco management should maintain a credit policy manual to help in debt recovery and even avail the required resources needed for effective management of loan debtors.

Risk and uncertainty assessment in software project management: integrating decision trees and Monte Carlo modeling

The evaluation of risk and uncertainty in the context of software project management is the subject of this paper. This paper discusses the difficulties faced by project managers in handling uncertainty brought on by the complex nature of software projects and the ever evolving requirements of technology. A review of the literature, data production, visualization, statistical analysis, and mathematical modeling are included in this study. The goal of this study is to create a methodical approach to assist project managers in making decisions by considering the inherent uncertainty in software development and to find approaches and procedures that may successfully reduce risks, improve decision-making, and eventually result in the implementation of successful projects. The following tasks were carried out: to evaluate risk and uncertainty by examining the state-of-the-art in decision theory and its applications in software project management; to develop an integrated strategy that blends Monte Carlo Simulation with Decision Trees to assess risk and uncertainty in software project management; to generate data, visualize it, and perform statistical analysis to comprehend how project outcomes, costs, and time are affected; to identify important variables affecting project results and decision-making using decision trees; to use Monte Carlo simulation to create project scenarios and weigh the likelihood of each; and to supply project managers with knowledge and suggestions to help them make informed decisions and successfully manage risks. Methods. To evaluate risk and uncertainty in software project management, this paper analyzes the decision theory approaches currently used as well as Decision Trees and Monte Carlo Simulation techniques. Results. This study offers thorough insights into how project results, costs, and duration vary among various techniques. The critical factors that have a substantial influence on project success are shown through decision trees. According to the study’s findings, combining decision theory and statistical analysis equips project managers to make wise decisions despite uncertainty. Conclusions. Project managers may improve decision making, risk reduction, and overall project success by applying these cutting-edge approaches. To adapt these techniques to unique software project management contexts and real-world situations, further study and implementation in practice are necessary. With the use of such techniques, the software development sector would be better able to manage the complexity of projects and provide good results within set financial and time parameters.

Turn it around – NBFC-IFC

Learning outcomes After studying and analysing this case, students would be able to evaluate and understand the importance and need of an infrastructure sector in a country, its inherent risks and scope of infrastructure investment and financing in India – National Infrastructure Pipeline and the important role of Non-Banking Finance Company’s (NBFC) vis-à-vis banks in infrastructure financing in India; critically analyse and recommend alternative decisions in a business problem situation using multi-criteria decision analysis, which is a tool used for business portfolio analysis; understand and evaluate the corporate portfolio management (CPM) tools used for an optimum portfolio mix to turn around companies; identify and suggest an optimum portfolio mix to turn around a finance company using CPM assessment applied to Pidun matrix; and recommend operational and strategic levers for successful turnaround implementation by using the integrated canvas on turnaround. Case overview/synopsis On 10 May 2020, in New Delhi, India, J. Ray took charge as a full-time director of an Indian Non-Banking Finance Company – Infrastructure Finance Company (NBFC-IFC). The NBFC-IFC of the Indian Government extended long-term financial assistance to infrastructure projects in India. During the financial year (FY) 2017–2018 till FY 2019–2020, the company suffered substantial losses to the tune of US$13.7bn, with profitability experiencing a notable decline – return on assets at a negligible 0.11% and return on equity of only 0.68%. The NBFC-IFC had a declining yield on advances at 7.05%, net interest margins (NIMs) of 2.08% against a high cost of borrowing at 7.66%, a declining loan book (by 4.35%) of US$336.27bn and a fast-deteriorating asset quality with highest ever non-performing assets (NPAs) at 19.70% of its loan book. Such financial parameters, compared with that of the industry average of banks and finance companies, meant that the NBFC-IFC Ray had taken over was fast bleeding and was on the brink of being declared a sick company. In comparison, private and other government players had profitable and much healthier financials, and Ray felt that there was a need for improvement. To make things worse, Ray got to know that the Indian Government was in the final stages of setting up a new development finance institution focused on long-term infrastructure financing in India. Ray realized the question was not only of the NBFC-IFC remaining relevant but also of its existence in the fast-evolving sector. Ray wondered what could his his integrated canvas be for a turnaround strategy that could include effective management of an optimal portfolio mix. With a healthy capital-to-risk (weighted) assets ratio of 30.85% and a satisfactorily improved net worth of US$103.1bn, in the given Reserve Bank of India regulatory provisions for the NBFC-IFC including restrictive exposure norms and NBFC-IFC’s operational mandate prescribed by the Indian Government, Ray had to shift the product and sectorial investment of the NBFC-IFC to reduce the NPAs, increase loan book size and improve the yield of advances and its NIM to effectively turn around the company’s profitability. Ray realized that he needed his team to evaluate and select a product and sector strategy for this change. Complexity academic level The present case of financing investment in infrastructure is interesting for implementation in developing economies because a lack of infrastructure is a common problem and there is a necessity of achieving a more developed infrastructure system to support accelerated economic growth in these countries. This case can be used in elective courses on corporate finance strategy and corporate portfolio management for infrastructure finance companies. This case can be taught in elective courses in post-graduate and MBA programs. This case can also be included in management development programs (MDP), executive MBA programs and executive-level courses that have subjects such as corporate finance strategy, corporate portfolio management and strategy management that focus on turnaround strategies including portfolio management for banks and finance companies. Supplementary materials Teaching notes are available for educators only. Subject code CSS 11: Strategy.

Dynamic Maintenance of Solvency of the Russian Insurance Companies: the Evidence from Russian Insurers

The Russian economy is facing sanctions pressure, resulting in weakening business relations with foreign insurers. Medium-sized insurance companies, targeting regional economic entities, play a crucial role in the insurance market. To improve the efficiency of Russian insurance, the number of medium-sized companies operating in regional markets must increase. To regulate their capitalization, special conditions must be developed, focusing on capital adequacy requirements and financial stability parameters. While earlier research has examined what factors might impact profitability growth, the investment income factor in maintaining corporate financial stability has been underexplored. This paper aims toexplore conditions for improving insurers' financial soundness through growth of a company's internal capitalization. Medium-sized insurance companies often struggle to meet regulators' minimum capital requirements (a core variable linked with companies’ capitalization) leading to potential market shrinkage. Our hypothesis is that it possible to create a financial reserve that meets the regulator’s increasing equity requirements without raising additional external investments. This study examined the factors which impacted the growth of medium-sized insurance companies operating in the emerging markets. Operating results of seven randomly selected medium-sized insurance companies in 2014–2022 were used forthe analysis. The paper suggests that institutionalization of insurance companies' capitalization is crucial to minimize the risk of capital inadequacy. The study contributes to our understanding of how medium-sized insurance companies can be governed and suggests a way to increase their capitalization.

Feasibility analysis of sustainable hydrogen production for heavy-duty applications: Case study of highway 401

Considering the environmental effects of the CO2 emissions in the transportation sector, it is vital to find alternate fuels which significantly mitigate the detrimental greenhouse gas emissions. Hydrogen, as a sustainable energy vector, could substantially decrease the CO2 emissions released by heavy-duty trucks. Development of such technology necessitates detailed planning, technical evaluations, and financial roadmaps. Therefore, regulating the grid sale and purchase prices is crucial to guarantee a successful hydrogen commercialization in the transportation sector. This study evaluates the sustainable framework of hydrogen refueling stations along Highway 401, Canada, employing grid-connected photovoltaics, wind turbines, electrolyzers, H2 tanks, and converters for various scenarios. A detailed GHG emission evaluation is conducted as per intensive programs and expenses from the central grid for all scenarios during the project lifetime. Sensitivity evaluation is conducted to evaluate the impact of grid price rates, capital cost multiplier, and PV output volatility on various technical and financial parameters. Integration of 1269 kW PV/31 WTs/58 ELC/220 kg H2 tank/901 kW converter under 10-truck scenario is determined to be the best system. The corresponding net present cost, levelized cost of hydrogen, and renewable fraction of the best solution are estimated to be M1.07$, $2.03 kg hydrogen, and 93%, respectively.

Techno-Economic Analysis and Optimization of Hybrid Renewable Energy System with Energy Storage under Two Operational Modes

Access to cheap, clean energy has a significant impact on a country’s ability to develop sustainably. Fossil fuels have a major impact on global warming and are currently becoming less and less profitable when used to generate power. In order to replace the diesel generators that are connected to the university of Debre Markos’ electrical distribution network with hybrid renewable energy sources, this study presents optimization and techno-economic feasibility analyses of proposed hybrid renewable systems and their overall cost impact in stand-alone and grid-connected modes of operation. Metaheuristic optimization techniques such as enhanced whale optimization algorithm (EWOA), whale optimization algorithm (WOA), and African vultures’ optimization algorithm (AVOA) are used for the optimal sizing of the hybrid renewable energy sources according to financial and reliability evaluation parameters. After developing a MATLAB program to size hybrid systems, the total current cost (TCC) was calculated using the aforementioned metaheuristic optimization techniques (i.e., EWOA, WOA, and AVOA). In the grid-connected mode of operation, the TCC was 4.507 × 106 EUR, 4.515 × 106 EUR, and 4.538 × 106 EUR, respectively, whereas in stand-alone mode, the TCC was 4.817 × 106 EUR, 4.868 × 106 EUR, and 4.885 × 106 EUR, respectively. In the grid-connected mode of operation, EWOA outcomes lowered the TCC by 0.18% using WOA and 0.69% using AVOA, and by 1.05% using WOA and 1.39% using AVOA in stand-alone operational mode. In addition, when compared with different financial evaluation parameters such as net present cost (NPC) (EUR), cost of energy (COE) (EUR/kWh), and levelized cost of energy (LCOE) (EUR/kWh), and reliability parameters such as expected energy not supplied (EENS), loss of power supply probability (LPSP), reliability index (IR), loss of load probability (LOLP), and loss of load expectation (LOLE), EWOA efficiently reduced the overall current cost while fulfilling the constraints imposed by the objective function. According to the result comparison, EWOA outperformed the competition in terms of total current costs with reliability improvements.

Pengaruh Current Ratio,Quick Ratio,Cash Ratio,Debt To Equity Ratio Dan Sales Growth Terhadap Profitabilitas Perusahaan Aneka Industri Yang Terdaftar Di BEI Tahun 2017-2018

This study aims to explore the relationship between financial parameters and profitability of companies in various industries listed on the Indonesia Stock Exchange between 2017 and 2019. Profitability is the dependent variable in this study, while debt to equity ratio, current ratio, quick ratio, cash ratio, and sales growth are independent factors. The research sample used is purposive sampling, and the following standards are used: (1) companies listed on the Indonesia Stock Exchange; (2) various industrial enterprises; and (3) businesses that have comprehensive annual financial statements for 2017 to 2019. Through sampling, 25 businesses from various industries were identified as meeting these criteria. The results of the regression analysis stated that the current ratio, quick ratio, and cash ratio did not have a significant effect on the company's profitability. However, debt to equity ratio and sales growth have a significant influence on a company's profitability. Thus, it can be said that the use of financial ratios such as debt to equity ratio and sales growth can increase profitability for the company. This research has several practical implications for companies in various industries, namely companies can consider the use of debt to equity ratio and sales growth in making strategic decisions to increase profitability. However, it can be noted that the results of this study are only valid in the specified research period, so companies need to conduct follow-up research to ensure the use of appropriate financial ratios in the long term
 
 Keywords: Current Ratio,Quick Ratio,Cash Ratio,Debt To Equity Ratio,And Sales Growth

Estimating Economic Returns of Sheep and Goat Rearing in Karak Governorate

This study aims to estimate the economic returns of sheep and goat rearing as well as total cost and returns to identify the profit margin made by out each farmer. The random sample consists of 196 breeders who breed 58240, sheep and goats in the Karak governorate of Jordan. The sample represents 13% of the total sheep and goat population (445300) in Karak. The primary data were collected through personal interviews with farmers using a questionnaire. The questionnaire was designed to achieve the study objectives and consisted of three themes. The first theme was questioning the variables that relate to the farmer’s personal characteristics (demography). The second theme contains a set of questions regarding financial production cost and return parameters during the milking season including the marketing process. The third theme consists of information about the return from selling individual sheep and goats and products such as wool and manure. The collected data from the questionnaire were statistically analyzed following Likert 5 Scale The financial analysis was conducted using Gross margin analysis. The findings of the analysis show that 52.6% of farmers were above 50 years old. the average size of the herd was 297. The variable cost for the herd was 13067.98, Jordanian Dinar, while the total returns were 17104.54, JOD, and the Gross margin ratio was 0.23599. The amount of milk production was (3,494.4) tons in a season lasting 3 months on average. The average prices of milk of goats and sheep are 1.1 and 0.87 JOD/kg, respectively, Moreover, 53.3% of the farmers processed the domestically produced milk into Jameed, butter, and margarine. The result of the analysis of gross margin was 30%, indicating the sheep and goats rearing projects make profits in Karak Governorate. The study recommends that a national program should be developed to maintain local breeds, set appropriate standards, and define trademarks for the local production of Jameed and domestic margarine.

Techno-economic assessment of energy storage systems in green buildings while considering demand uncertainty

Energy storage systems (ESSs) were introduced to overcome the risks posed by energy curtailment. In this paper, we compare the Levelized cost of storage (LCOS) for PEM Reversible Fuel Cells, Solid Oxide Fuel Cells, and Lithium-Ion Batteries in three different locations in the United States (Tucson, Seattle, and Rochester) that are characterized by different energy consumption profiles. This research examines three commercial buildings of different sizes: small, medium, and large, with three occupancy profiles: low, medium, and high energy consumption in each of the three locations. The objective is to quantify the impact of uncertain demand and uncertain financial parameters on the LCOS. The results show that all ESSs can represent an attractive alternative to energy curtailment regardless of the building size or the occupancy profile. Further, the results show that fuel cells are a better fit for demand uncertainty as they are more resilient to changes and remain attractive despite that. The uncertainty analysis showed that the minimum LCOS was $0.049/kWh, and it was for a PEM-RFC in a small building in Tucson under high energy consumption behavior. Oppositely, the maximum LCOS was $0.679/kWh, and that was for a large building in Seattle under high energy usage occupancy as well.

DEVELOPMENT OF CORPORATE VENTURE CAPITAL UNDER THE CONDITIONS OF INTENSIFICATION OF INNOVATIVE ACTIVITY

In recent years, corporate venture capital has gained popularity in all areas of the economy in different countries of the world. Along with traditional venture capital funds, business angels and accelerators, traditional corporations also invest in startups around the world. Most often, these processes take place according to the corporate venture capital model. This makes it possible to remove restrictions on the participation in corporate venture funds mainly of legal entities, will open up opportunities for the participation of various subjects in corporate venture funds, and promotes the investment of funds in innovative structures. The purpose of the article is to analyze corporate venture capital, to identify structural characteristics of corporate venture capital and peculiarities of corporate venture investing in Ukraine. During the research, the method of synthesis and analysis, induction (in the study of corporate venture capital, structural characteristics of corporate venture capital and peculiarities of corporate venture investing in Ukraine); the method of schematic, graphic images (for the visual display the received results of the study) has been used. The main structural characteristics of corporate venture capital have been singled out. The signs of structural characteristics of corporate venture capital include the parameters of the corporate venture capital investment model, the types of corporate venture investment goals, criteria for deciding on financing a startup for investors and analysts of corporate investment funds, the types of corporate venture capital investments, the main motives for investment by corporate venture capital funds, ways to promote business growth through corporate investment in venture capital funds, the main financial parameters of the sustainability of corporate venture capital. Ukrainian investors appeared in this field literally 5-7 years ago, but their interest in global international startups is already marked. It was established that for Ukrainian businessmen venture investments at the stages of the B+ series are a new stage of expansion of the investment portfolio. The amount of investment depends on the investor's faith in the project and the arrogance and talent of the startup. If «seed» and «angel» investments are calculated on average in hundreds of thousands of dollars, then capital investments in the innovative business are measured in millions and tens of millions. The main goal of corporate venture capital is strategic innovative business development. Activation of activity through corporate venture capital investments in Ukraine is only developing, and much depends on the business reputation and personal characteristics of managers. Ukraine's economy needs integration into global economic processes through the development of corporate venture capital.

Solar-Powered Solutions for the Water and Energy Shortage Problem: The Case Study of Nahr El Bared, Lebanon

Solar power is an effective way to reduce the dependency on conventional fuels and mitigate the water and energy shortage issue. The main aim of the current paper is to assess and compare the techno-economic feasibility of rooftop grid-connected photovoltaic energy systems for generating electricity and generating drinkable water in Nahr El Bared, Lebanon. To this aim, the present paper first reviews previous scientific studies associated with the water resources and energy situation to summarize the current status in Lebanon. According to this review, Lebanon's water resources are highly polluted, domestic and industrial sewage is largely untreated, and intolerable agricultural practices further exacerbate the situation. Furthermore, population and economic growth and the continuous utilization of old power plants have led to an increase in the number of hours of power outages in the country. Accordingly, the proposed project aims to evaluate the viability of using solar energy as an alternative solution to the shortage of water and energy in the country. Secondly, the techno-economic performance of the proposed system in the selected region was evaluated based on the variations in financial parameters using RETScreen Experts software. The results demonstrate that 11770–13451kWh/yr could be generated from the solar system, which can help reduce the energy shortage and generate drinkable water. Furthermore, the investment was found to be economically viable and attractive for investors. This paper concludes that solar energy can be able to solve the energy shortage of electricity, reduce the country's electricity costs, and produce freshwater for drinking and domestic use in the country.

Testamentary Capacity Assessment Tool (TCAT): An update report

AbstractBackgroundTCAT is a recently developed short instrument (15 minutes are required for its administration), with good psychometric properties, specialized for the assessment of testamentary capacity (TC) in dementia. It assesses memory, perception of financial parameters and judgment. The present study reports all studies about TCAT.MethodPubmed database as well as unpublished data by the authors of the TCAT have been used.ResultAs of now, there are no other specialized TC assessment instruments with measured psychometric properties in the scientific literature. Unpublished data on amnestic mild cognitive impairment (aMCI) performance using the TCAT show no difference of aMCI in comparison to healthy adults at any part of the tool. Another unpublished study has examined the correlation between the three parts of TCAT and the expert opinion regarding TC in patients with dementia. It has shown that Part C “financial parameters” demonstrates the highest correlation with the expert opinion. Validation and standardization of the TCAT in the Greek population is under way. The preliminary results show that age, and not educational level or gender, predicts the performance in TCAT. Validation and normative data of the TCAT in an Italian population of 323 healthy adults is provided in a recent published study showing that it is useful as an adjuvant instrument for TC assessment in the elderly.ConclusionWhile the TCAT is a useful tool, more studies are needed in different cultures, both in healthy adults and cognitively impaired adults, for its standardized use in forensic and clinical settings.

Roadmap to a Sustainable Energy System: Is Uncertainty a Major Barrier to Investments for Building Energy Retrofit Projects in Wide City Compartments?

Along the roadmap to a Sustainable Real Estate-Scape, energy retrofit campaigns on wide city compartments represent a pivotal task, where the importance of the collaboration between the public and private sectors is crucial. Energy retrofit programs on building assets are subject to multiple uncertainty factors (e.g., climate, energy-economy forecasts, etc.) that act as a primary barrier to investment in this field. This paper aims to discuss risk management techniques to understand better how to deal with this kind of uncertainty. The research specifically addresses the techniques of sensitivity analysis and Monte Carlo simulation, focusing first on the phase of variables selection and their probability definition, including climatic, environmental, energy, economic, financial, and stochastic parameters. In this article, it is suggested to include correlation coefficients in the input variables of risk analysis, preferring the two-dimension Monte Carlo simulation to its simple version, since the results are more reliable when separating aleatory from epistemic uncertainty; thus, the results are more reliable. Moreover, it is seen how a sensitivity analysis based on percentile variations of the inputs provides a more accurate representation of risk if compared to the most common sensitivity analysis based on percentage deviations of the inputs. Conducting a sensitivity analysis using percentile variations gives realistic and reliable results, reflecting the tailored definition of uncertainty around the inputs on the basis of specific market analyses or historical series.