Financial Options Research Articles

Exploring Interacting Effects of Forest Restoration on Wildfire Risk, Hydropower, and Environmental Flows

Forest fires in the western U.S. are increasing in size and intensity, partly due to overstocked forests, a legacy of fire exclusion. Forest restoration can mitigate fire severity and improve ecological health, but funding poses challenges to meaningfully scaling restoration efforts. Co-benefits of restoration can expand the funding options for forest management. In particular, streamflow enhancement may justify financial participation from water and hydroelectric utilities and environmental organizations. However, most efforts to estimate the value of this benefit do not account for interacting effects of restoration, fire, and operational constraints, including environmental flows. To address this, we coupled multiple models using generalizable techniques in order to quantify the impact of restoration on fire behavior, water yield, and hydropower generation in a California reservoir system subject to real-world constraints. The modeled results show water yield benefits from treatment alone, with greater benefits accruing with a return of low-intensity fire. Average annual runoff with treatment increases by 1.67 to 1.95 thousand acre-feet (1.5 to 1.8%) depending on the fire scenario, creating up to 2880 MWh and USD 115,000 of annual generation and revenue. These modest but non-negligible impacts could account for 8.2–15.8% of restoration costs, supporting the co-benefits model to drive investment in forest management.

Optimization of Medium Voltage Overhead Line Design for PT Algae Marine Life at PT PLN Kariango Customer Service Unit

The addition of premium customers at PLN ULP Kariango has an impact on the electricity supply burden borne by PLN. This study uses an experimental research model. These designs will be tested and graded based on established standards. Data collection was carried out by observing and opening data specifications for electric power system equipment. Data analysis in this study used ETAP software. For Option 1 the SUTM design does not meet the technical requirements because there is a % power loss of 16.3 % and a % voltage drop of 31.1 %. For financial analysis, option 1 was not implemented because the technical requirements were not met. For the 2% option, the power loss of 46.2% does not meet the technical requirements. For financial analysis option 2 already meets the requirements. For option 3, the technical criteria for shrinkage is 10.87% and the voltage drop is 0.4%, which fulfills the technical requirements. For financial analysis, option 3 already meets the financial requirements. So that the results of the optimization of the three SUTM designs were chosen the best option 3 SUTM design.

How does blockchain technology affect the strategic financing decisions of platform supply chain with low-carbon product?

PurposeTo explore how the blockchain affects the pricing and financing decisions in a low-carbon platform supply chain.Design/methodology/approachConsidering the dual roles of the e-commerce platform as a seller and an initiator, a typical game-theoretical method is applied to analyze the behavior of supply chain decision-makers and the impact of key variables on equilibriums.FindingsWhen loan interest rates are symmetric, whether blockchain is used or not, the e-commerce platform financing mode will always produce higher wholesale price and unit carbon emission reduction, while the retail price is the opposite. Higher unit additional income brought by the blockchain can bring higher economic and environmental performances, and the e-commerce platform financing mode is superior to bank financing mode. The application of blockchain may cause the manufacturer to change his/her financing choice. For bank financing, with the increase of loan interest rates, the advantages brought by blockchain will gradually disappear, but this situation will not occur under e-commerce platform financing.Originality/valueBlockchain is known for its information transparency properties and its ability to enhance user trust. However, the impacts of applying blockchain in a low-carbon platform supply chain with different financing options are not clear. The authors examine the manufacturer's strategic choices for platform financing and bank financing, whether to adopt blockchain, and the impact of these decisions on carbon emissions reduction, consumer surplus and social welfare. The research conclusion can provide reference for the operation and financing decisions of platform supply chain under the carbon reduction target in the digital economy era.

The Differences between Murabahah and Musharakah Muatanaqisah Contract Payments Using the Time Value of Money Method (Study Case: PT Sarana Perumahan Mandiri)

Indonesia’s population is expected to grow by 68% by 2050, with the government aiming to improve living conditions and promote economic expansion. The Million Homes Program will determine the nation’s future. Islamic banks offer mortgage financing options, including Musharakah, Murabahah, and Ijarah contracts. These contracts require a thorough risk assessment and understanding of each party’s responsibilities. The study aims to determine the ideal contract for Islamic bank mortgages, allowing developers to advise clients on their use before purchasing subsidized homes. The authors used contracts called Murabahah and Musharakah to calculate financing, but found that the equivalent rates on each contract varied, raising concerns about the amount of finance developers and buyers need to provide. The Time Value of Money technique was employed to calculate the cost difference between the Murabaha and Musharakah contracts. The results suggest that customers may choose Bank Syariah B or Bank Syariah A based on lower equivalent rates and stability. With a margin of 67.79% in the Musharakah contract, Bank Syariah B can be chosen with an equivalent rate of 7.5% for the first 13 years, 10.1% on the 14th year, and then falling back to 10.1% on the 15th year.

The Capital Structure Theory as It Relates to The Food Sector. A Developing Economy's Evidence

The study's objective was to investigate the capital structure theory in the food industry, focusing on manufacturing companies listed in Zimbabwe. By looking at these companies' capital structures, we aimed to pinpoint the factors influencing capital structure decisions in the food industry and provide managerial implications for businesses operating in this market. From 2017 to 2022, the study used Panel data from the financial statements of manufacturing companies listed on the Zimbabwe Stock Exchange and Victoria Falls Stock Exchange. The findings demonstrate the importance of business value and capital structure despite their negative relationships. For a variety of stakeholders, the study has value implications. This study offers managers in the food business insights into the variables influencing firms' capital structures, empowering them to make educated decisions about their financing options. The study can also be used by investors in this industry to assess the capital structure of businesses they are considering investing in, which will ultimately help them make more educated choices. Additionally, policymakers can use the study's findings to create policies that support the expansion and development of Zimbabwe's food business, thereby boosting that nation's economy.

Towards developing a knowledge base for small business survival techniques during COVID-19 and sustainable growth strategies for the post-pandemic era

Small and Medium-scale Enterprises (SMEs) often face severe challenges during most global crises. This study utilizes metadata from 694 publications generated through a literature survey on SCOPUS to undertake science mapping, thematic structure analysis, and text analytics to identify, evaluate, and initiate a knowledge base of COVID-19 survival techniques and post-pandemic sustainable growth strategies. The results highlight several streams of strategies. First, the firm’s internal resources and situational leadership abilities, including crisis management techniques and dynamic capabilities, provide the initial resilience against the pandemic challenges, supported by government funding and public policy. Second, adopting digital technologies, modifying business models, and process innovation not only aids survival but enhances internal operations. SMEs can turn challenges into opportunities through product innovation, achieving competitiveness and improved performance. Third, securing funding for SMEs’ digitization or digital transformation can be challenging but offers enormous survival opportunities during crises and sustainable growth in the post-pandemic era. SMEs can explore non-traditional financing options, including crowdsourcing and digital financing. Fourth, readily available virtual technologies (virtual meeting platforms) provide immediate relief to businesses and become a significant part of future business practices in the post-pandemic era. Finally, social entrepreneurship blossomed during COVID-19, ignited particularly by the community lockdown, travel restrictions, self-isolations, and quarantine of entrepreneurs and workers. Although scientists cannot stop the outbreak of pandemics, adequate preparation and understanding of effective strategic responses can cushion negative impacts. Further studies can contribute more survival and sustainable growth strategies against potential crises.

The impact of venture capital on Chinese SMEs’ sustainable development: a focus on early-stage and professional characteristics

Venture capital is an essential financing option for small and medium-sized enterprises, especially high-tech enterprises. The sustainable development of enterprises is of great significance for promoting the high-quality growth of the economy. In this paper, Chinese-listed companies supported by venture capital from 2002 to 2022 are taken as the research sample. Semiparametric and nonparametric methods are adopted to explore the long-term impact of venture capital on the sustainable development of Chinese enterprises. It is found that the early stage of venture capital companies has a significant promoting effect on the sustainable development of the enterprises. In contrast, professionalism has no significant impact on the sustainable development of enterprises in the short term but has an inhibitory effect in the long term. The results show that venture capital is conducive to enterprises’ standardization and long-term development because it provides funds, supervision, and other noncapital value-added services, such as networking resources, management experience, and market information. Venture capital should refrain from interfering excessively in decision-making in professional and technical fields. This paper addresses the need to research venture capital’s impact on enterprises’ sustainable development. It provides a specific reference for formulating venture capital contracts and related policy recommendations.

Pengaruh Modal, SIA, Dan Pendapatan Terhadap Nilai Investasi Dengan Harga Saham Sebagai Variabel Moderating

At the beginning of investment activities, potential investors consider what the desired investment value is, what information is needed, how much capital is needed and other considerations. The purpose of this study was to examine the effect of investment capital, accounting information systems, and income on investment value by using stock prices as a moderating variable. And whether the stock price as a moderating variable, as strengthening the independent and dependent variables, or weakening each variable. The population of this research is himself, who is 200 people taken from the large millennial population aged 17-39 years in the city of Medan. The sample includes 133 millennial respondents from the city of Medan. This data processing technique uses Smart PLS-SEM version 3 software with goodness of fit (internal model), R-squared test, Q-squared test, hypothesis test and t-statistics, resulting in the influence of investment capital, accounting information systems (SIA) has a significant influence on investment value. Income has a large influence on investment value, but share price as a moderator weakens the relationship between investment capital, accounting information systems, and income on investment value, thus rejecting suggestions. To give long-term preparedness or funding options, millennials must be interested in investing their money in the capital market. The results of this study have consequences for the larger community, particularly for the younger generation, who may benefit from it by understanding and becoming more interested in participating in the capital market.

Role of OT in Aging-in-Place Initiatives

Abstract Date Presented 04/22/2023 This presentation will present evidence for OT-led falls prevention programs to support community-dwelling older adults aging in place. Established programs, multifactorial approaches, and funding options for implementation will be discussed. The authors’ intended context for application is a rural nonprofit Village-to-Village model community. Primary Author and Speaker: Colleen O'Hagan Additional Authors and Speakers: Seira Plouviez, Lauren Chan, Danielle Beck Contributing Authors: Amy Kashiwa, George Tomlin

Review of hair prosthetic options for patients with alopecia.

Advanced cases of alopecia can be very difficult to treat pharmacologically. Hair loss can be emotionally taxing for many, leading to depression, anxiety, or suicide. Currently, there is limited medical literature on prosthetic hair devices available for patients with alopecia. The purpose of this review is to educate dermatologists with a thorough review of hair prostheses to assist them in counseling patients with alopecia. We provide an overview of the various hair prostheses in detail and discuss their respective advantages and disadvantages. When considering the optimal hair prosthesis for a patient, it's important to know the hair coverage the patient requires, the material of different attachments, the type of hair fiber required, and the cap foundation. Additionally, financial options and potential adverse effects after applying a prosthesis to the scalp are important aspects to consider. A dermatologist should be able to discuss hair camouflaging techniques with their patients, including the benefits of the various options based on patients' preferences, needs, and type of hair loss. Dermatologists are the experts in the management of skin, nail, and hair disorders, and an understanding of the prosthetic options available to patients with alopecia can improve patient care and quality of life outcomes.

Value–Risk Calculator for Blended Finance: A Systems Perspective of the Nachtigal Hydropower Project

Hydropower as a renewable source can help many countries achieve their sustainable energy and climate goals, but large projects are challenging to finance because of their costs and risks. To fully realize the climate benefits of such projects, sponsors have recently fashioned complex financing arrangements that structure and allocate risks to reduce financing costs. This paper focuses on the blended financing approach adopted for the Nachtigal Hydropower Plant (NHP) in Cameroon. The purpose of the paper is to present a detailed systems analysis of Nachtigal’s financial arrangement to address the question of why the complex financing approach worked in practice. We accomplish this by creating a “financial simulator”—a computational model for evaluating risks and incentives embedded within the financing structure under different contract architectures and risk–event scenarios. Our simulator is a dynamic value–risk calculator that can be easily updated to study other climate-oriented projects that involve complex financial arrangements. We evaluated three aspects of the financing/contractual arrangements that made Nachtigal “bankable:” (i) guarantees that covered nonpayments, (ii) financial options on locally sourced loans; and (iii) an interest rate swap. We found: (i) the guarantees recovered project value threatened by four specific risks often associated with large hydropower investments (cost overruns, schedule delays, offtake risk, and low flow due to climate change); (ii) the mechanism significantly lowered interest rate charges; and (iii) private finance was mobilized—especially due to the options. The financial safeguards employed increased the likelihood of capturing the long-run sustainability benefits from NHP.

Financial Literacy and Financial Inclusion

The study employed the Probit regression on the National Bureau of Statistics general households survey data to appraise the effect of financial literacy on financial inclusion in Niger State. The estimation result shows that financial literacy positively and statistically influences financial inclusion options (account ownership, bank access, and credit access) in Niger state. Similarly, education status, age, and gender are determinants of financial inclusion. The study concluded that financial literacy is necessary for achieving financial inclusion. To encourage financial inclusion among youth, the government should include financial education in secondary school and tertiary to teach skills and information on how to utilize and manage financial services and products. The central bank should also mandate the financial institutions to establish customer financial advisory units to educate their clients on managing and using financial products and services available to them to create wealth, thus improving living standards.

Financing of Small-Scale Industries in India: A Survey of Literature

Abstract: MSMEs are essential for India's economy, providing job opportunities, industrial production, exports, and regional development. They have been instrumental in promoting exports from India and have a significant impact on regional development. However, they face challenges such as limited access to finance, lack of infrastructure, technological constraints, and regulatory complexities. To maximize their potential contribution, it is important to address these challenges and provide a favorable environment for their growth. The purpose of the study was to review the financial problems faced by small-scale industries (SSIs) in India and investigate alternative financing options such as nonbank financial institutions. The conclusions emphasize the importance of addressing the financial constraints faced by SSIs in order to support their growth and development, and call for the intervention of state and central governments.

Capital Structure and Profitability in Emerging Market New Ventures: Insights from Trinidad and Tobago

New ventures, which are essential in driving economic development, face a universal challenge of accessing finance and deciding on a suitable capital structure. In developing countries such as Trinidad and Tobago, studying the impact of capital structure on profitability levels of new ventures is especially critical, given that current literature has primarily focused on established firms. To fill this gap, this study examined the existing capital structure of 43 new ventures in Trinidad and Tobago, testing the effects of different financing sources on net profit margins. The findings revealed that owners’ savings and retained earnings had a positive impact on net profit margins, while short-term loans, long-term loans, and informal investor finance had no significant effect. Moreover, this study expanded upon existing theories, particularly the pecking order theory, by testing it in the context of new ventures, rather than mature firms. The implications of this study are significant to financial managers in charge of decision-making for new ventures. It suggests the importance of owners’ savings and retained earnings in financing new ventures. Moreover, the findings suggest that new ventures in Trinidad and Tobago may benefit from pursuing funding options that align with the pecking order theory. Overall, this research emphasizes the need to consider the unique financial challenges facing new ventures when making decisions regarding their capital structure.

Impact of Revenue Diversification on Financial Health with Mediating Role of Felxibility: Non-Profit Organizations of Afghanistan

As nonprofit organizations continue to be faced with financial difficulties especially in the context of Afghanistan during recent years. Although several studies have found that revenue diversification has a significant impact on the financial health of nonprofits but studying organizational flexibility as a common mediating variable that defines the organizations’ access to multiple options of funding, risk tolerance, autonomy, and, community connectedness is not observed or at least not measured yet. Thus, this study aimed to test the effects of the mediating role of flexibility on the relationship between dependent and independent variables through hypothesis testing, therefore the positivism philosophy of the research with a deductive approach and quantitative methodology was applied. The data of this study has been collected from among the top nonprofit organization's senior positions with 124 employees. The result of the study indicates that nonprofits with several funding resources are less vulnerable to financial shocks as the revenue diversification provides more options for funding which consequently increase the risk tolerance, independence, and community connectedness “widening of coverage area” of the organization. Being overly dependent on a limited number of resources is risky, because if a major donor of the organization declines or stops its funding, then it is more likely that the organization face financial problems. But the nonprofit organizations should be vigilant of the risk–reward of revenue diversification as well. Keywords: Revenue diversification, Financial Health, Organizational flexibility, Nonprofit organizations. JEL Code: G01, G32, D24, H20, D23, L21.

Death doula working practices and models of care: the views of death doula training organisations

BackgroundThe role of death doula has emerged in recent years, arguably as a result of overwhelming demands on carers, healthcare professionals and service providers in end-of-life care. Death doulas work independently without governing oversight and enact the role in various ways. The main driver of this evolving role is the organisations that train them. The aim of this study was to examine death doula training organisations’ views with regard to DD business models, incorporating the death doula role into other existing models of care, and role enactment.MethodsAn electronic survey was administered to 15 death doula training organisations in 5 countries asking additionally that they disseminate the survey. Responses were received from 13 organisations, based in Australia (n = 4), the US (n = 4), Canada (n = 2), the UK (n = 1), Sweden (n = 1) and New Zealand (n = 1). This paper provides the qualitative findings from four open-text questions posed within the survey related to models of care.ResultsQualitative data analysis was inductive, themes were determined in relation to: (1) standardised business model for death doulas, (2) death doulas incorporated into existing models of care or existing funding options, (3) death doulas who volunteer their services rather than charge money, and (4) role specialisation such as has occurred with birth doulas.ConclusionsThe death doula role has the potential to be formally recognised in the future under national registration schemes, accompanied by death doula training required via certification. Until such time the death doula role will continue to evolve much as the birth doula role has, organically and unstructured. How and if death doulas are incorporated into existing models of health or social care remains to be seen as the organisations that train them push for independence, flexibility and fiscal independence.

PIRAP: Data Crawling and Internet of Things-Based Opportunity and Challenge Analysis of Migrant Workers’ Entrepreneurship Based on Rural Revitalization Environment

The main obstacles to migrant workers starting businesses when they return to their hometowns are their own lack of financial literacy and aptitude, a lack of sufficient venture capital, and inadequate financing options. This paper conducts an analysis of the opportunities and challenges under the rural revitalization environment in conjunction with the Internet of Things Technology, through which a migrant labor entrepreneurship analysis platform is built. Data crawling technology is applied to capture internet data resources related to innovative entrepreneurship in the data collection module, and the entrepreneurship data is processed by the Internet of Things Technology. Based on the research, the approach suggested in this paper has its benefits for analyzing the opportunities and difficulties that migrant workers encounter in a rural revitalization context, in order to finally provide some theoretical support for pertinent research.

SUKUK MURABAHAH: A MECHANISM TO FUND INFRASTRUCTURE PROJECTS IN NIGERIAN TERTIARY INSTITUTIONS

Developed countries have actively engaged in producing and providing infrastructural facilities at all levels of development. The demands for infrastructure investment in developing nations quickly attract the country’s attention for the operation of organizational structures and the management of societal needs (e.g roads, bridges, power, education, transport, health care services, communication, technology, and many other sectors). In this regard, countries worldwide are seeking a way to increase their economic flow via infrastructure. In Nigeria, financing education became a bottleneck as a result of the tertiary institutions in the country lacking infrastructure which in consequence affected the growth and development of the institutions towards producing qualified-minded trained students in almost all fields of study. Therefore, this paper is to conceptually investigate how Sukuk Murabahah can be used to fund infrastructure projects in Nigerian universities. The study concludes that Sukuk Murabahah will play a significant role in financing and uplifting the standard of Nigerian tertiary institutions and brings about national development. Therefore, the study recommends that promoters of Sukuk should create more awareness about its availability, security, and minimal risk so that the government at all levels and corporate entities can benefit from the service. Governments at all levels and corporate entities should be encouraged to patronize or adopt Sukuk as their financing option due to its features of providing social and economic benefits to the issuer. The existing legal and regulatory framework should always be conformed with and developed to remain unfailing with time and space.

The Potential of the Land Value Capture Scheme in the Perspective of Disaster Risk Funding

Disaster risk refers to the possibility of a loss of life, assets, health, and livelihoods to the community in the future, so it must be reduced, one of which is by implementing disaster risk management. The disaster risk management financing scheme is crucial considering the number of funds needed. This research serves as an initial exploration into alternative funding options by investigating the potential benefits of implementing the Land Value Capture (LVC) scheme. The driving question of this study focuses on the advantages of employing the land value capture concept for disaster risk funding. To address this question, a descriptive qualitative research methodology is employed, encompassing an analysis of LVC in general, a funding analysis for disaster risk management, and the implementation of LVC for disaster risk reduction specifically in Indonesia. The findings of this study reveal that the Land Value Capture (LVC) scheme can serve as an additional strategy for funding disaster risk management in Indonesia. Through the proposed framework, the integration of LVC with disaster risk financing and insurance is facilitated.

Investigation of Higher Order Localized Approximations for a Fractional Pricing Model in Finance

In this work, by considering spatial uniform meshes and stencils having five adjacent discretization nodes, we furnish a numerical scheme to solve the time-fractional Black–Scholes (partial differential equation) PDE to price financial options under the generalized multiquadric radial basis function (RBF). The time-fractional derivative is estimated by an L1-scheme but the spatial variable is discretized using fourth-order RBF-FD methodology. As a matter of fact, the PDE problem is transformed in the form of a linear set of algebraic equations. To support analytical discussions, numerical tests are furnished and reveal the efficacy of the presented solver.