High Levels Of Investment Research Articles

Investment traps and resilience to shocks: An experimental study of Central Asian collective water governance

AbstractWe theoretically and empirically investigate the investments of water users in a stylized local irrigation system. We model irrigation self‐management as an interdependent interaction of users in an evolutionary game and study the resilience of the irrigation system. The theoretical model implies multiple stable equilibria at different efficiency levels. Users may be trapped in a low level of collective investment or succeed by being locked in a high collective investment level, implying an irrigation system resilient against external shocks. The study seeks to empirically identify such lock‐ins in experimental interactions among Central Asian farmers. Furthermore, we inquire into whether a pre‐play cheap talk opportunity with peer‐monitoring or sanctioning treatments influence the self‐reinforcing dynamic. Our findings revealed several stable states. Among these states, there are both low and high levels of efficiency, which we measure in the size of public good. Communication among users results in higher collective investment levels. However, this does not guarantee the complete elimination of inferior conventions from best‐response play. Penalties crowded out the intrinsic motivation to cooperate as they reduced collective investment in both low‐ and high‐level equilibria. Our findings imply that institutional settings tailored to each community can improve resilience to climate‐driven perturbations in water resources.

Environmental degradation and sustainable development of economies: empirical evidence on economic performance.

The present paper aims to analyze the influence of environmental practices over the sustainable development of economies which create economic resilience for the economies classified according to different income levels. The authors aim to assess the impact of high environmental degradation (HED) on GDP growth volatility and GDP growth for economies over the long term and short term for the period of 1955-2020 in 124 countries. The findings of empirical analysis conclude that HED economies will have high growth in the long term than their counterparts. The economies of HED have a significant mean difference in volatility with their counterpart control group that implies HED economies have low volatility than the control group. Economies with HED have higher financial development relative to their control economies. The empirical analysis of robustness checks shows that economies with HED have low volatility in GDP and higher growth rates. HED economies enjoy high and sustainable financial development and high gross fixed capital formation, which signifies a high level of investment in their economy than their control counterpart.

Stylized life cycle of high-growth companies in Russia

The article is devoted to the empirical identification and analysis of the stylized life cycle of high-growth companies (gazelle firms, HGFs). The stylized cycle is calculated in real time by summarizing the dynamics of the main indicators of 11 generations of HGFs (7743 firms). On the basis of this analysis, the effects not previously described were established. (1) The presence of a trigger point at which a change in the business model causes a catastrophic deterioration in the main indicators, but at the same time opens the way to rapid growth in a new direction (the phenomenon of internal creative destruction). (2) Outstripping growth in profitability compared to revenue in the midst of a phase of rapid growth of HGFs. This fact explains the mechanism of self-financing of the rapid growth stage in the conditions of well-known discrimination of HGFs by external investors. (3) Preservation of increased investment activity of gazelles after the end of the stage of rapid growth. The high level of investment shows that ex-HGFs are making real efforts to resume growth and, therefore, have the potential as objects of state support.

Comparative analysis of fixed capital investments in the regions of Russia

The aim of the research was to assess the specific levels of fixed capital investment per capita in all regions of Russia. The research was based on official 2019 statistics on the volume of fixed capital investments in 82 regions of Russia, as well as data on the population. In the research, the analysis of clusters associated with the unification of the objects studied in relatively homogeneous groups based on the study of the values of the compared indicators was applied. The normal distribution function was used in modelling to estimate the distribution of specific values for most regions. The following results and conclusions were obtained: it has been shown that the formation of five groups is optimal. In addition, it was shown that in 2019 nine regions were characterized by an extremely high level of investment due to the tasks of their strategic development to meet federal challenges. They also identified regions with relatively low values of specific investments in fixed assets. Everything indicates that specific investment values have a significant differentiation in several regions of Russia.

Insider Trading Laws in the United States

This study explores the laws of insider trading in the United States stock market. The research is based on the analysis of public records, legal cases. The research addresses insider trading laws and cases in the United States as a model in terms of what need to be done to have a sufficient enforcement in developing countries, as well as improving laws related to fines and other forms of punishment. A better enforcement and litigation with insider trading and other securities violations are concerns to domestic and foreign investors alike, and can lead to increase investors’ confidence, which may, in turn, result in higher levels of investment. Keywords: insider trading, United States stock market , securities violations. DOI: 10.7176/JLPG/119-06 Publication date: March 31 st 2022

Checking the Pulse: A Global Survey on the Evolving Roles of the Insurance Medical Director.

-The traditional role of the insurance medical director is evolving. RGA surveyed insurance medical directors to provide an overview of their roles, skill sets, future trends, and their increasing and changing contributions to the insurance industry in recent years and throughout the current pandemic. -RGA conducted a first-of-a-kind global survey of medical directors in the insurance industry. The online survey took place from April to June 2021 and had seven key sections: medical experience and qualifications, roles and responsibilities, underwriting and claims capabilities, adapting to change, disease and product trends in insurance, challenges, and future opportunities. Globally, 124 insurance medical directors from 84 companies participated in the survey. -Respondents are an experienced group of medical directors, with 88% active in the medical profession for 10 years or more. Eighty-seven respondents (70%) dedicate the majority of their time to providing technical medical expertise. Forty-eight percent of medical directors were involved in medical issue briefings prior to the pandemic, and that number increased to 63% during the pandemic. Three of every five respondents (60%) reported a shift in underwriting to an emphasis on more competitive decisions, e-underwriting, and data analytics, while for claims practices, 35% reported a shift to more decisions being challenged and increasing complexity of claims and products. In addition, 31% of insurance medical directors are involved in product development on a regular basis. Only 50% of respondents reported a high or moderate level of investment from employers for training and development with their companies. Forty-three percent of survey respondents are interested in a change of role, especially those with less than 15 years of experience in the insurance industry. Medical directors see data and analytics (50%) as the largest area of development for future growth. Eighty-eight percent of participants surveyed believe that the future role of the medical director in the life and health insurance industry is promising. -The future of the medical director role will require more strategic responsibilities, greater product development expertise, and stronger data and analytics skills to support insurer needs. It will be important for insurance medical directors to engage in conversations with their employers to discuss their current and emerging roles.

Role of Nonlinear Processes in Instability of Dynamical Systems in Economics Applications

We study the influence of an external investment on the stability of equilibrium prices in an economic system which is described by the equations of evolution of prices of goods with regard for the balance of supply and demand, as well as the external investment in the economic system. It is shown that sufficiently high levels of investments lead to the loss of stability of theequilibrium state.

Industry 4.0 Readiness Calculation-Transitional Strategy Definition by Decision Support Systems.

The digitization of the manufacturing industry, 10 years after the introduction of the Industry 4.0 concept, is still one of the most demanding tasks for the companies, especially for SMEs. As one of the biggest barriers in new business model implementation, the lack of strategy and workforce skills is frequently mentioned in the literature. The high level of investments it requires and the perception of high risks with unclear future benefits can be avoided with readiness factor calculation. This paper presents a novel model for readiness factor calculation, oriented to process planning and based on decision support systems. The model enables the definition of the optimal strategic plan for the digitization with the use of decision support systems (analytic hierarchy process) and through the use of statistical methods implemented within the model it minimizes the influence of human subjectivity and quantification of qualitative criteria. This innovative approach enables the understanding of the transition process to new technology-enabled business models, in this case oriented towards process planning. The useability and reliability of the model is proven in a case study of a metal machining company.

Long-Term Hydrogen Storage—A Case Study Exploring Pathways and Investments

Future low-carbon systems with very high shares of variable renewable generation require complex models to optimise investments and operations, which must capture high degrees of sector coupling, contain high levels of operational and temporal detail, and when considering seasonal storage, be able to optimise both investments and operations over long durations. Standard energy system models often do not adequately address all these issues, which are of great importance when considering investments in emerging energy carriers such as Hydrogen. An advanced energy system model of the Irish power system is built in SpineOpt, which considers a number of future scenarios and explores different pathways to the wide-scale adoption of Hydrogen as a low-carbon energy carrier. The model contains a high degree of both temporal and operational detail, sector coupling, via Hydrogen, is captured and the optimisation of both investments in and operation of large-scale underground Hydrogen storage is demonstrated. The results highlight the importance of model detail and demonstrate how over-investment in renewables occur when the flexibility needs of the system are not adequately captured. The case study shows that in 2030, investments in Hydrogen technologies are limited to scenarios with high fuel and carbon costs, high levels of Hydrogen demand (in this case driven by heating demand facilitated by large Hydrogen networks) or when a breakthrough in electrolyser capital costs and efficiencies occurs. However high levels of investments in Hydrogen technologies occur by 2040 across all considered scenarios. As with the 2030 results, the highest level of investments occur when demand for Hydrogen is high, albeit at a significantly higher level than 2030 with increases in investments of large-scale electrolysers of 538%. Hydrogen fuelled compressed air energy storage emerges as a strong investment candidate across all scenarios, facilitating cost effective power-to-Hydrogen-to-power conversions.

Use of Social Media and Depression in First-Year Undergraduate Students during COVID-19 Lockdown

Due to the COVID-19 pandemic, most educational institutions switched to online learning as a standard education delivery model. The use of social media has since become an essential and integral component of students’ lives, both as a tool to facilitate learning as well as for social connections. The current study examines the use of social media and its association with depression among newly enrolled first-year university students during the national lockdown. Three hundred and eighty-six (N = 386) participants aged between 19–21 years from one faculty of a public university were recruited online for the study. Self-reports on daily time spent and emotional investment (frequency of visits) on social media were obtained. Depression was assessed using the Patient-Reported Outcomes Measurement Information System (PROMIS) Depression Scale. Results from binary logistic regression showed that high levels of investment in a variety of social media activities were associated with symptoms of depression. Compared to the users at the lowest level, students in the higher usage groups had significantly increased odds of depression (AOR = 2.94, 95% CI = 1.22–7.08; AOR = 2.49, 95% CI = 1.04–5.94, respectively), even after controlling for all covariates. Total time spent, however, was not found to associate with depression. Additionally, indigenous students from East Malaysia who mostly reside in rural areas recorded a significantly higher odds of experiencing depression during the pandemic (AOR = 3.32, 95% CI = 1.23–8.90, p = .02) compared to the Malays. Given the pervasive use of social media during the COVID-19 lockdown, the findings of the study suggest that educators at higher education institutions can leverage on the ubiquitous use of social media among students to disseminate targeted educational messages regarding mental health.

An Empirical Study on Impact of COVID-19 on Mobile Financial Service and Saving Practices: The Case of Bangladesh

The world is passing a grievous phase because of a fast-spreading disease named COVID-19. Almost all countries have experienced the impact of coronavirus on their economy. Unexpectedly, due to that situation some industries like retail chain shops, online grocery shops, Mobile financial service, IT firms are experiencing growth in Bangladesh. Mobile financial service is relatively new concept but a fast-growing industry in our country. But there are some issues that MFS users face, especially rural people. History of economics shows that countries that succeeded in accumulating high levels of domestic investment largely financed by domestic savings, achieved faster rates of economic growth and development. So, understanding peoples saving behaviour is crucial. Therefore, this paper focused on finding the impact of COVID-19 on saving practice of mobile financial service users of rural area as economic growth and development depend on a country’s level of domestic savings. To fully understand the situation the researchers aimed to find the answers to some key questions: (1) Did mobile financial service reach to rural people in this pandemic? (2) Did saving rate increased during pandemic? (3) What is the impact of mobile financial service on saving behavior of people? (4) What are the key determinants of saving practices of mobile banking users? Both descriptive and advanced statistical analysis has been used for analyzing the data and a cross sectional survey on user of mobile financial services has been performed. The study area was three subdistricts (Phulbaria, Nandail, Gouripur) of Mymensingh district in Bangladesh. A two-stage sampling technique was used for data collection. First three villages were chosen from the three selected sub-districts. Then, convenient villages were surveyed for collecting information through primary survey. Simple random sampling method has been used in selecting sample and collecting data from the respondent. A total of 210 users was interviewed from the selected areas. Statistical package SPSS was used for data analysis. Researchers found that mobile financial service industry has significantly grown during pandemic but the saving practices of rural people have decreased. Age, occupation, regularity of income, average monthly family income, saving habit, monthly income during pandemic are the significant factors of the saving practices of mobile banking users. The government should encourage rural residents to save more in formal than informal channel and should emphasis on Mobile Financial Service industry as it can be the answer to the economic problem.

Adolescent Eating Disorder Risk and the Social Online World: An Update.

The role of traditional media (television and magazines) in creating eating disorder risk has long been a topic of discussion and research, but the proliferation of social media and rapid increase in the use of the Internet by adolescents generates new dynamics and new risks for the development and maintenance of eating disorders. Recent research describes the relationship between Internet and social media use and eating disorders risk, with the greatest associations found among youth with high levels of engagement and investment in photo-based activities and platforms. Here, we review different types of online content and how they are relevant to eating disorders and consider the theoretical frameworks predicting relationships between Internet and social media and eating disorders, before examining the empirical evidence for the risks posed by the online content in the development and maintenance of eating disorders. We describe proeating disorder content specifically and examine the research related to it; we then consider the implications of such content, highlight directions for future research, and discuss possible prevention and intervention strategies.

КОНЦЕПТУАЛЬНІ ЗАСАДИ ПОВОЄННОГО УПОРЯДКУВАННЯ УРБАНІСТИЧНОГО ПРОСТОРУ УКРАЇНИ, ЗРУЙНОВАНОГО ВНАСЛІДОК ВІЙСЬКОВИХ ДІЙ

The article outlines the main directions of the Action Plan (rational, inclusive, green, efficient, nonlinear reproduction, increasing economic productivity, stimulating high levels of investment, transforming the economy into carbon-free, architecture into green, bioclimatic and safe) to revive Ukrainian settlements based on current analysis. situation in Ukraine according to available official data of losses from the impact of hostilities. It is argued that some places cannot be rebuilt in the way they existed, new roads, bridges and railways are under reconstruction, investment losses, labor outflows and defense spending add to the negative impact of hostilities on GDP. The current world experience in rebuilding cities affected by military conflicts (Bosnia and Herzegovina, Syria, Lebanon, Iraq, etc.) is analyzed. Accordingly, the research developed conceptual principles for the reconstruction of Ukrainian cities (villages, settlements) destroyed by hostilities, namely presented the necessary tasks (community involvement, setting priorities, respecting local traditions, healing the emotional state of residents for memories of horrific events), tools for their solution (platform for interconnection and exchange of projects with theoretical research and practical actions, system of organizational and economic measures of the nonlinear action plan for priority and further assistance to cities, districts, villages and their components, protection and reproduction of cultural heritage, attractive atmosphere of places and their further promotion), ways and results. It is argued that the urban planning of the country should be based on the principles of urban typology, population needs, priorities, innovation inclusiveness, emotional and spiritual healing, ambience, atmosphere, restoration of protected areas. The essence of each of the principles of building a new model of the country on the basis of sustainability, innovation, inclusiveness and creativity is revealed.

Ներքին խնայողություններով տնտեսության բարդության աստիճանի բարձրացման համար անհրաժեշտ ներդրումների ֆինանսավորման հայեցակարգային շրջանակ/ A Conceptual Framework for Domestic Saving Financing the Investment Required to Increase the Complexity of the Economy

The paper reviews the issues related to external and internal sources of investment financing for the introduction of frontier technologies, considering the guidelines for increasing the economic complexity of the Republic of Armenia, established in the program of the Government of the Republic of Armenia for 2021-2026. The degree of economic complexity depends on its distance from the world technological frontier. One of the channels for the transfer of productive knowledge needed for the adoption of frontier technologies is FDI, which suffers insufficient levels of inflows. In addition, the uncertainty of external sources of financing has increased under the trends of the last decade and recent influence of COVID-19. Based on the results of the analysis, the authors concluded that the stable, high level of investment required for sustainable economic growth based on technological progress must be provided through domestic savings. A conceptual framework for an export platform for FDI and domestic investment is proposed, aimed at increasing the level of economic complexity of the country.

ОСНОВНЫЕ НАПРАВЛЕНИЯ РАЗВИТИЯ МАЛОГО АГРАРНОГО ПРЕДПРИНИМАТЕЛЬСТВА

The article discusses the socio-economic significance of small agricultural business as an economic institution in the national economy. It is noted that small forms of management in the field of agricultural production make a certain contribution to ensuring the country's food security, expanding the scale of competitive relations, and diversifying agricultural production. The main problems for the development of small agribusiness are identified, which include the following: insufficiently high level of investment in the fixed capital of small agricultural enterprises; lack of own financial resources, inaccessibility of borrowed funds; high import intensity of manufactured products; difficulties with storage, processing, sale of manufactured products; insufficiently developed infrastructure in rural areas. It is concluded that the solution of these problems is associated with the transformation of the state support model, which should include a system of effective measures, tools, methods and be carried out in the following directions: ensuring the effective modernization of labor tools in order to comply with their modern world technical and economic level, through the activation of the main tools investment policy in agriculture; ensuring the growth of production capacities through the organization of processing modules on the basis of functioning C (F) H and cooperatives; development of production based on the use of a system of crop rotation of high-margin crops; stimulating the development of agricultural marketing; stimulating the development of export-oriented small agricultural enterprises, which largely contribute to the diversification of production, the growth of the quality of manufactured products; improvement of road transport and logistics infrastructure in rural areas; activation of further processes of effective integration and cooperation; structural change in the forms of small agribusiness entities through the transformation of households into peasant (farmer) households.

Is Ppp the New Firepower For Islamic Finance That Will Accelerate Progress Towards (SDGS)?

Having access to essential infrastructure services is pivotal in creating economic opportunities and bringing social services to the poor. Their deficiency leads to a number of negative consequences and lost opportunities (the World Bank indicates that currently 1 billion people live without electricity, 663 million people lack access to safe drinking water, 840 million people are located more than 2 kilometers from all-weather roads, and 4 billion people cannot access the Internet). The systematization of the results of World Bank research proved that lower-and middle-income countries need to spend on average 4.5 percent of GDP to deliver infrastructure services and achieve the infrastructure-related Sustainable Development Goals (SDGs). The urgency of solving this problem lies in the fact that in many countries, the high levels of investment required for infrastructure cannot be financed by the public purse alone. Therefore, the governments of these countries should pay attention to private investments as a tool for additional fundraising. The article presents the results of the analysis, which proved that the Private-Public Partnership has increasingly become a common structure for the delivery of public infrastructure. It offers the opportunity for governments and nongovernmental bodies to achieve more efficient projects by sharing risks and giving the private sector a chance to bring innovation to the design, construction, operation, and maintenance of public infrastructure. The study theoretically proves that public-private partnership offers monetary and non-monetary advantages for the public sector, in particular: allowing the allocation of public funds for other local priorities, distributing project risks to both public and private sectors, improved efficiency and project implementation processes in delivering services to the public, emphasizes Value for Money (VfM) – focusing on reduced costs, better risk allocation, faster implementation, improved services and possible generation of additional revenue. In the paper, based on a comparative analysis of conventional bonds and Sukuk (Islamic bonds), it was concluded that conventional bonds represent the issuer’s pure debt, while the latter offers multiple benefits: lower costs of funds due to higher rating via credit enhancement, access to the capital markets, diversification of funding sources, off-balance sheet financing (via securitization), improvement of financial ratios, and potential risk reduction.

MACROECONOMIC DETERMINANTS OF INVESTMENT IN THE BALKAN COUNTRIES

This study analyzes the impact of crucial macroeconomic variables on investments for six selected Balkan countries (Croatia, Serbia, Bosnia and Herzegovina, Montenegro, North Macedonia and Albania) in the period from 2005 to 2020. Most of these countries are on the path to European integration, and Croatia has been a member of the EU since 2013. Their development and macroeconomic goals are mostly identical, and one of the main is the requirement of a high level of investment in order to achieve higher growth rates and overcome the development gap in relation to EU countries. The research starts from the hypothesis that the selected factors (independent variables): gross savings, FDI, interest rate, GDP growth and external debt, affect the total investments in the region. To prove this hypothesis, a panel analysis model was applied, that is the panel with a fixed effect as a more relevant model for estimation. The results show that savings and external debt are significant variables, whereby savings have a positive impact on investment, while the impact of public debt is negative. Real interest rates also determine investment, which is shown by their marginal significance and negative numbers. In other words, higher interest rates discourage investment. Finally, the analysis shows that GDP growth is not significant, but the direction is logical and slightly encourages investment. Foreign investments are also an insignificant variable, but they have a positive direction, which explains why the deficit of domestic investments is only partially compensated through the FDI.

What is the expected human childhood? Insights from evolutionary anthropology.

In psychological research, there are often assumptions about the conditions that children expect to encounter during their development. These assumptions shape prevailing ideas about the experiences that children are capable of adjusting to, and whether their responses are viewed as impairments or adaptations. Specifically, the expected childhood is often depicted as nurturing and safe, and characterized by high levels of caregiver investment. Here, we synthesize evidence from history, anthropology, and primatology to challenge this view. We integrate the findings of systematic reviews, meta-analyses, and cross-cultural investigations on three forms of threat (infanticide, violent conflict, and predation) and three forms of deprivation (social, cognitive, and nutritional) that children have faced throughout human evolution. Our results show that mean levels of threat and deprivation were higher than is typical in industrialized societies, and that our species has experienced much variation in the levels of these adversities across space and time. These conditions likely favored a high degree of phenotypic plasticity, or the ability to tailor development to different conditions. This body of evidence has implications for recognizing developmental adaptations to adversity, for cultural variation in responses to adverse experiences, and for definitions of adversity and deprivation as deviation from the expected human childhood.

Does Air Pollution Impact Fiscal Sustainability? Evidence from Chinese Cities

Fiscal sustainability is an issue of great concern for governments globally and air pollution control has become an important factor affecting fiscal sustainability. This study aims to examine the impact of air pollution on fiscal sustainability in the short and long run. We conducted an empirical analysis based on air pollution and local government debt data on China’s prefecture-level cities in 2014–2019, using regression discontinuity design (RDD) and a panel data model. The results show that air pollution reduces the debt burden of governments in the short run. However, in the long run, addressing the negative impacts of air pollution adds to the debt burden of local governments, hindering fiscal sustainability. Fiscal freedom and the level of public services significantly moderate the negative impact of air pollution on fiscal sustainability. A higher level of fiscal freedom generally indicates a greater incentive for local governments to raise pollutant emission standards, strengthen the construction of green infrastructure, and subsidize green enterprises. Furthermore, a higher level of public services reflects better infrastructure and higher levels of investment in environmental protection, which help to reduce the negative impact of air pollution. The governments are suggested to take measures to effectively control air pollution, so as to enhance fiscal stability in the long run.

ECONOMIC AND FINANCIAL ANALYSIS OF E-COMMERCE DURING A PERIOD OF ECONOMIC CRISIS IN BRAZIL (2014-2019)

Changing the concern of consumers has required excellent results from organizations with available resources. In this context, e-commerce, a segment in full growth, presents high billing projections during the years of analysis in which Brazil faced economic recession. Therefore, the objective of this study was to verify, through accounting statement indicators, the economic and financial performance of the 5 largest publicly traded companies - B2W, Magazine Luiza, Via Varejo, Lojas Renner and Saraiva - that operate in electronic commerce, during the period of economic recession faced by the country. In the theoretical section, the main financial and economic indicators were addressed and a brief history of e-commerce in Brazil was portrayed. Furthermore, the analysis of the indicators of these companies in the period from 2014 to 2019 has been discussed. It was found that the companies had an increase in revenue, even during the recession period, but with an irrelevant performance in the net result. The main factors of this effect were: the need to finance their operations with onerous short-term resources, which entails financial expenses, leading to greater indebtedness with third-party capital in the short term. The low gross margin has also been noticed due to the cost of goods sold, and, finally, the increase in operating expenses and the high level of investment in distribution and logistics.