Internal Rate Research Articles

Multi-objective optimal sizing and techno-economic analysis of on- and off-grid hybrid renewable energy systems for EV charging stations

Integrating electric vehicle charging stations (EVCSs) with renewable energy systems requires the consideration of several factors during the planning stage, including environmental impact, economic viability, grid reliability, and self-sufficiency. Therefore, this study conducts a multi-objective optimal sizing of on- and off-grid hybrid renewable energy systems for EVCSs. The sizing problem is solved using the Non-dominated Sorting Genetic Algorithm (NSGA-II). Subsequently, the best suitable solutions from the obtained non-dominated solutions are selected using the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) method, prioritizing the objective functions based on diverse interests of different stakeholders (large and small private investors and governmental entities). Finally, a techno-economic analysis is made considering payback period, profitability index (PI), and internal rate of return (IRR). The results show that on-grid systems show high economic viability with payback periods between 1.98 and 7.72 years, an average PI of 5.07 and an average IRR of 23.97%. Although off-grid systems present lower economic viability with payback periods between 8.77 and 22.42 years, an average PI of 1.68 and an average IRR of 4.91%, in certain cases they reach investable levels with payback periods below 10 years, PI above 2, and IRR above the interest rate.

Sizing of photovoltaic systems for self-consumption without surpluses through on-site measurements: Case study of the Dominican Republic

The photovoltaic systems with surpluses have contributed significantly to distributed generation in the last decade, however, its growth is affected by new regulations in several countries. With the aim of promoting self-consumption, this research evaluates the profitability of self-consumption without surpluses, considering self-consumption without an anti-dump system. The sizing methodology includes the use of geographic information systems tools, on-site measurements with an electrical network analyzer and irradiance meter, contributing with real data of the solar resource. A techno-economic model is applied to a case study in the residential sector of the Dominican Republic, with an average demand of 394 kWh/month, from which results are inferred for other levels of consumption. The results show that self-consumption without anti-dump is profitable, with payback time (PBT) of 4.57 years, internal rate of return (IRR) of 23.4 % and self-sufficiency rate (SSR) of 5.0 %. The deployment of this type of self-consumption is not viable for customers with consumption <252 kWh/month. In the case study with the anti-dump system the investment is profitable, with PBT of 4.84 years, IRR of 21.7 % and SSR of 20.8 %. These results indicate the profitability conditions for two types of self-consumption without surpluses, presenting an alternative to self-consumption with surpluses.

Relationship of shoulder internal and external rotation peak force and rate of force development to throwing velocity in high school and collegiate pitchers

The purpose of this research was to characterize the difference between high school (HS) and collegiate pitcher’s throwing velocity, shoulder internal (IR) and external rotator (ER) maximum strength (Fmax) and rate of force development (RFD) and explore relationships between these measures. Competitive HS and collegiate pitchers (n = 26) participated in a single session assessment in which shoulder rotator isometric Fmax and RFD were quantified via a portable strain gauge device and throwing velocity via radar. Paired t-tests, stepwise linear regression models and correlational analyses were used to answer the questions of interest. No significant differences (p > 0.05) in pitching velocity were observed between HS and collegiate pitchers, and all pitchers were pooled into one sample for subsequent analyses. For both IR and ER models, the explained variance of Fmax with throwing velocity was small (R2 = 0.12–0.13). RFD and arm length did not contribute to the models. Large correlations (r ≥ 0.50; p < 0.001) were observed between IR and ER for Fmax and RFD measures, as well as between Fmax and RFD for IR and ER. In terms of throwing velocity, having strong IR and ER Fmax capabilities would seem more important than the ability to express force quickly in this cohort.

Enabling role of policies to make public charging infrastructure development viable in an Indian city: A modelling-based analysis

The present paper is concerned with shedding light on the financial viability of setting up public charging infrastructure in a range of implementation situations in an Indian city and the possible role of policies and regulations to make charging business attractive. The nascency of the electric mobility sector and its fast-evolving technological landscape along with possibility of different charging use-cases make it difficult to templatize the financial evaluation of charging business. With the help of a publicly available peer-reviewed financial tool which has been specifically developed to analyze the possible financial outcome of an investment in public charging infrastructure for electric vehicles (EVs) in Indian context, the study examines the business attractiveness of setting up a public charging station in four unique use-cases such as charging at public parking, destination charging, on-the-go charging, and shared workplace charging. The study employs Project Internal Rate of Return as the primary financial yardstick that is being benchmarked with a hurdle rate or target rate of return to make the evaluation as objective as possible. The financial modelling aptly captures the dynamics of India’s EV charging market by considering the possible variations in charging infrastructure configuration, electricity tariffs and regulations, provision for land rental, charging fees and other such factors. It further demystifies the potential impact of key variables on a project’s business case. This research would help design policies, regulations, support mechanisms and terms of reference for public charging infrastructure projects in the country. Policymakers, implementing authorities, regulators, potential investors, and financial institutions are expected to benefit from the analyses.

Prediction of the internal corrosion rate for oil and gas pipelines and influence factor analysis with interpretable ensemble learning

Corrosion is one of the major threats to the safety and reliability of oil and gas pipelines, making accurate prediction of corrosion rate crucial for pipeline maintenance and repairment. Traditional prediction methods often ignore more critical factors and lack interpretability, which hinders the practical application. Here, an interpretable ensemble machine learning framework is proposed, not only improving prediction performance, but also enhancing interpretability for predicting the internal corrosion rate of oil and gas pipelines. In this work, ExtraTreeRegression model has demonstrated superior prediction accuracy relative to the other five machine learning models, and the determination coefficient of the ExtraTreeRegression model achieves 0.93 after feature engineering. Then, Shapley Additive exPlanations (SHAP) values is utilized to visually interpret the model locally and globally to help account for the contributions of the input features. Furthermore, the accumulated local effect (ALE) successfully explains how the features affect the internal corrosion rate of oil and gas pipelines. By collecting corrosion data of oil and gas pipeline and performing feature engineering and data preprocessing, we construct a comprehensive and reliable prediction model with interpretability. Experimental results demonstrate that the proposed interpretable ensemble machine learning approach outperforms other models in both accuracy and interpretability, providing valuable insights for pipeline management decisions.

Enriching wind power utility through offshore wind-hydrogen-chemicals nexus: Feasible routes and their economic performance

The offshore wind-hydrogen strategy is crucial for achieving carbon neutrality, yet faces challenges like wind power variability, surplus hydrogen, and elevated costs. Recently, linking offshore wind, hydrogen, and chemicals is proposed to address these challenges. However, there is a lack of a comprehensive techno-economic analysis of this nexus. This study, as one of the first attempts, performs the techno-economic analysis of 8 feasible offshore wind-hydrogen-chemical nexus routes, in which factors of technology, economics, and financial policy are considered. The research indicates that Route 7, which incorporates offshore wind power utilizing proton exchange membrane technology for hydrogen production and blends it with natural gas on offshore platforms, demonstrates the most cost-effective outcome. The key factors influencing the cost reduction of these routes encompass the green hydrogen price, capital costs, internal rate of return, electricity price, value-added tax rate, and loan ratio. Among these, the green hydrogen price is the primary determinant influencing the cost of green products. If the price of green hydrogen decreases to 2.19 USD/kg, green synthetic ammonia can meet the current standard of 605.47 USD/t. Finally, the results can provide important reference to support stakeholders for seeking cost-effective routes of offshore wind-hydrogen-chemical nexus in China and other regions.

Stiffness properties of regular p-bars tensegrity prisms under the compressive loading

The regular tensegrity prisms are a kind of fundamental unit, which can be formed into different configurations by different splicing approaches to achieve specific structural functions. Taking regular prisms as the research object, this article presents an analytical method for structural deformations under compressive loading. The structural parameters after loading can be obtained directly by solving the nonlinear force density equation, which simplifies the form-finding process. This article also studies the structural stiffness under different connection modes. By defining the twist angle change rate and internal force utilization rate, we can compare the relative deformation of different tensegrity prisms. The results show that the relative deformation of the three-bar prism is minimal, and it has the best stiffness.

Box-Behnken design (BBD) for optimization and simulation of biolubricant production from biomass using aspen plus with techno-economic analysis

The growing concern and limitations for existing lubricants have driven the need for biolubricants, extensively proposed as the most suitable and sustainable lubricating oils. Biolubricant refers to lubricants that quickly biodegrade and are non-toxic to humans and aquatic habitats. Over the last decade, there has been a significant increase in the production of biolubricants due to the rising demand for replacing petroleum-based lubricants with those derived from renewable sources like vegetable oils and lipase that are used in various applications. In this study biodiesel (FAME) produced from blending animal fats and waste cooking was used as a raw material with ethylene glycol for biolubricant production using a transesterification reaction in the presence of calcium oxide which considers the newest and novel part as there is no production of biolubricant from animal fats and waste cooking oil in previous researches. The reaction parameters of biolubricant production were optimized using response surface methodology (RSM) with the aid of Box Behnken Design (BBD) to study the effect of independent variables on the yield of biolubricant. These variables are temperature ranging from (100–150 °C), reaction time ranging from 1 to 4 h, and FAME (Fatty Acid Methyl Ester) to alcohol molar ratio ranging from (2:1) to (4:1). The highest biolubricant yield is 91.56% at a temperature of 141 °C, a FAME/alcohol molar ratio of 2:1, and 3.3 h. Various analyses were performed on the produced biolubricant at the optimum conditions. The results include a pour point of -9 °C, a flash point of 192 °C, a kinematic viscosity at 40 °C of 10.35 cSt, a viscosity index of 183.6, an ash content of 0.76 wt.%, and a carbon residue of 1.5 wt.%, comparing favorably with the ISO VG 10 standard. The production process of biolubricant was simulated with Aspen Plus version 11 using a Non-Random Two-Liquid (NRTL) fluid package. The simulation results indicated that the production process can be applied on an industrial scale. Economic analysis was performed on the biolubricants production plant. The total capital investment was $12.7 M with a payback period of 1.48 years and an internal rate of return (IRR) of 67.5% indicating the suitability and profitability of the biolubricant production.

A sustainable floating dome biogas plants integrated with semi-transparent photovoltaic thermal collectors: Construction, production and economic analysis

The design and construction of a self-sustained solar photo-voltaic active thermal heating floating dome biogas plant (35 m3) offers an alternative solution for round year biogas production, managing food and agricultural waste, reducing greenhouse gas emissions and minimize pollution. Moreover, this proposed model addresses the challenge of achieving the desired operating temperature (35 ± 2 °C) specially during the cold climatic conditions, which often leads to low gas production and high hydraulic retention time in anaerobic digestion. The integration of solar modules with the biogas digester enables the utilization of thermal energy for slurry heating and electricity for force mode of operation, ultimately enhancing overall energy efficiency. However, to assess the performance of the system, proximate and ultimate analyses as well as a cost-benefit analysis were carried out, considering revenue, and costs associated with construction, operation, and maintenance. The plant produces a significant amount of gas (9–12 m3) and hot water (∼2000 L) replacing approximately one LPG cylinder/2 day as well as organic fertilizer. The economic analysis shows a positive net present value (19.5 lakhs), an internal rate of return (20%), and short discounted payback period (5.7 years). This highlights the economic feasibility of the proposed model and emphasizes the importance of considering economic factors in the design and implementation of sustainable energy solutions. Furthermore, this approach demonstrates the potential for sustainable development and the transition to cleaner and more efficient energy systems by integrating renewable energy generation, waste management, and cost reductions.

Investment Analysis for Monetization of Marginal Oil Reserves: An Alpha Field Joint Operation Case Study

Challenges and opportunities are faced in the development of marginal oil reserves that are often uneconomical to exploit conventionally. The main objective of this study was to determine whether the project is a viable investment based on the given assumptions, as well as whether the potential returns can justify the risks associated with marginal oil reserves. The research method involved the use of key financial metrics such as Net Present Value, Internal Rate of Return, and Payback Period, using a discount rate of 10%, which is standard in the oil and gas industry. The results show that the project has a positive NPV of USD 124,462.38, an IRR of 13.13%, and a PBP of 4 years and 5 months. These results indicate that the project is financially viable, with returns exceeding the capital cost of the project. Further sensitivity analysis identified that oil prices and production levels are the most critical factors affecting the financial outcome of the project. Compared to the WACC of 10.25%, the IRR of 13.13% indicates that the project exceeds the minimum required rate of return, thus justifying the investment. The implications of this study highlight the importance of proper operational management and market risk mitigation to maintain profitability.

Technical and economic feasibility of hybrid power generation from urban solid waste associated with solar energy, considering the impact of the sale of carbon credits

In the global context of energy transition, from a model dependent on fossil fuels to a low-carbon matrix, hybrid plants, those that combine more than one energy source, prove to be an effective strategy for the increasing of the use of renewable energy sources. Furthermore, the creation of instruments that consider the environmental benefits of energy sources, such as the carbon credit market, which allows the trading of avoided CO2 emissions in the energy generation process, can contribute to the economic viability of low emission sources. In this sense, the objective of this research was to analyze the technical and economic feasibility of hybrid generation from municipal solid waste (MSW) associated with photovoltaic energy, to meet the demands of small city councils in Brazil, considering the commercialization of carbon credits. The economic indicators Net Present Value (NPV), Internal Rate of Return (IRR), Capital Payback Time (PAYBACK) and Levelized Cost of Energy (LCOE) were calculated for four different MSW management scenarios of the Intermunicipal Consortium of Municipalities of the Alto Sapucaí for Sanitary Landfill (CIMASAS, in portuguese), considering different percentages of recycling of dry and organic materials. The generation modalities Self-Production (APE, in portuguese) and Mini and Micro Distributed Generation (MMGD, in portuguese), provided for in the Brazilian regulatory framework, were considered. The results demonstrated that there are technical and economic viability in the proposed hybrid generation in all scenarios analyzed, and as the percentage of recovery of recyclable materials increases, there is an improvement in economic indicators. On average, in the APE modality, the NPV was 49.10 % higher than in MMGD, the IRR was 21.66 % higher, the payback was 51.68 % lower and the LCOE was 40.80 % lower than in MMGD. The inclusion of revenue from the sale of carbon credits promoted an average increase of 47.33 % in NPV, 24.09 % in IRR, and a decrease of, on average, 28.17 % in payback and 40.57 % in LCOE, in APE modality. In the MMGD modality, there was an average increase of 134.99 % in NPV, 39.46 % in IRR, and a decrease of, on average, 38.61 % in payback and 36.98 % in LCOE. These results demonstrate how the incorporation of environmental valuation in energy generation can contribute to increasing the economic attractiveness of hybrid generation from renewable sources.

Valorization of food waste into hydrogen energy through supercritical water gasification: Generation potential and techno-econo-environmental feasibility assessment

Food waste (FW) is a significant portion of the solid waste produced by cities, and it has become a global problem due to the poor management of food distribution and consumption. The improper disposal of FW in landfills precipitates pervasive global environmental predicamentsHowever, effective management strategies have the potential to convert this large amount of garbage into a very effective renewable energy source, particularly through the generation of environmentally friendly hydrogen. This study examines the capacity for energy generation and the practicality of hydrogen production in Bangladesh using supercritical water gasification technology. The findings indicate that approximately 489 MW of electricity can be extracted from approximately 23 million tons (Mt) of FW in 2023, with a projected escalation to around 2042 MW by 2042, coinciding with an anticipated surge in FW generation to approximately 110 Mt. Moreover, the study delves into the economic feasibility of these gasification endeavors, employing diverse metrics encompassing total life cycle cost, net present value, investment payback duration, levelized cost of energy, and internal rate of return. Technoeconomic analyses divulge an investment with a net present value of 11,669.4 M$M$, an 11-year payback period, and an internal rate of return of 14 %. In addition, the research assesses the technological, economic, and environmental viability inherent in the establishment of gasification-based electricity-generating facilities in Bangladesh's preeminent eight cities by 2023. This examination postulates that a transition from coal-based power plants to those powered by food waste would precipitate an annual reduction of 3.59 Mt in carbon dioxide emissions.

A Farmer-Centric Cost–Benefit Analysis of Climate-Smart Agriculture in the Gandaki River Basin of Nepal

Climate-smart agriculture (CSA) is a climate-resilient practice that stands out globally as an important practice through which we can deal with emerging challenges through adaptation and mitigation to increase crop productivity and resilience. Despite its significance, a comprehensive cost–benefit analysis of the adoption of these practices has not yet been carried out. This study aims to bridge the knowledge gap between the cost and effectiveness of CSA practices adopted by small-scale farmers in growing rice, wheat and maize, the most staple crops in the Gandaki River Basin of Nepal. In this study, net present value (NPV), internal rate of return (IRR), benefit–cost (BC) ratio, net benefit investment (NK) ratio and payback period, along with the value of externalities (social and environmental), were employed to assess the profitability of CSA practices. The findings indicate that almost all the CSA practices analyzed were profitable, with the exception of solar water management in maize with very low IRR (6%) and a longer payback period. The outcome of this study offers valuable insights for farmers in choosing profitable CSA technology and for policy makers in promoting better CSA technology, upscaling CSA practices, and formulating new agricultural policies and programs in the context of the changing climate.

Supporting strategy for investment evaluation of photovoltaic power generation engineering projects using multi-criteria decision analysis methods

This scientific study examines the evaluation of photovoltaic power generation projects through the application of multi-criteria decision analysis methods. Two groups of large-scale grid-connected PV power generation system projects with a nominal power of 50 MW and 500 MW respectively were analyzed and evaluated. These systems were designed to be installed in the same wider geographical area in northern Greece, but they were differentiated in the part of the PV circuit. Twelve systems were analyzed in which either monocrystalline silicon panels or poly-crystalline silicon panels or bifacial photovoltaic panels were to be installed. In these systems either central photovoltaic inverters or photovoltaic string inverters were considered for installation. The following criteria were used to evaluate the investment in these projects. These criteria were related to the profitability, the financial cost, the technical level, and the electrical energy production of the systems and these were the initial investment cost, the operation and maintenance cost, the levelized cost of electricity, the net present value, the internal rate of return, the capital recovery or payback period, the technical level of the photovoltaic circuit, the technical maturity of the photovoltaic circuit, and the annual electricity production. The evaluation of these criteria was initially conducted with fixed weighting coefficients followed by a sensitivity analysis of these weighting coefficients. The results of the evaluation using the PROMETHEE, AHP and TOPSIS multi-criteria decision analysis methods showed that the PV power generation systems which should be preferred are those with increased nominal power, where monocrystalline silicon technology panels are employed following the central inverter topology.

Economic evaluation of a wind and solar energy hybrid electric sightseeing boat in Laemsak, Krabi Province, Thailand

This research aims to analyze the economic evaluation of using hybrid wind and solar energy with a diesel-engine long-tail boat in the Laemsak tourism community, Krabi province, Thailand. It is a quantitative research study that collects and estimates the costs and expenses of developing hybrid wind turbine and solar panels with diesel-engine long-tail boat, including initial development costs, operational and maintenance costs, and depreciation costs, and also estimates the benefits of using the developed boat, such as revenue from boat services, fuel savings, and carbon offset savings. The economic feasibility is analyzed using the Cost-Benefit Analysis (CBA) method by calculating the Payback Period (PP), Net Present Value (NPV), Benefit Cost Ratio (BCR), and Internal Rate of Return (IRR), as well as analyzing the Sensitivity of some uncertain factors. The analysis of the project over a 10-year period indicates PP of approximately 3-4 years, positive NPV, BCR greater than 1.0, and IRR much higher than the Interest Rate. These figures demonstrate that the project is highly economically viable and suitable for investment.

Analisis dan Perancangan Usaha Pembukaan Cabang Baru pada Konveksi XYZ di Kota Bandung

Konveksi specific industry or agency. The problem with convection piling up and not making convection operational activities efficient. The aim of this study is to consider market aspects, technical aspects and financial aspects. By carrying out this feasibility analysis, convection can find out what needs to be prepared and know what risks will occur in order to avoid or minimize existing risks in the longer term. This financial aspect approach uses calculations of the Internal Rate of Return (IRR), Net Present Value (NPV), Payback Period (PBP), and Profitability Index (PI). The benefit of the proposed design results is that it can estimate the size of market demand for the opening of a new branch of XYZ Convection in Bandung City, namely 8,513 pcs in 2025, it can design the technical and operational aspects of opening a new branch of XYZ Convection in Bandung City by determining an investment of IDR 153,738,772, it can measure the financial feasibility of opening a new branch of Konveksi sensitivity of four variables, including sensitivity to decreasing demand levels, decreasing product selling prices, decreasing, increasing raw material costs, and increasing direct labor and indirect labor costs. Can identify the risks of opening a new branch of Konveksi XYZ in Bandung City with a percentage of 4.9%, and for entrepreneurs, it can be used as a consideration in making decisions in the business of opening a new branch of Konveksi. Based on the results of a feasibility study carried out taking into account market aspects, technical aspects and financial aspects, opening a new branch at XYZ Convection in Bandung City is feasible.

Examining the Internal Controls and Financial Performance of Selected Savings and Credit Cooperative Societies in Moyo District, Uganda

This research study examined the effect of internal controls on financial performance Savings and Credit Co-operative Societies (SACCOs) in Moyo district of Uganda. Utilizing both qualitative and quantitative methodologies, a descriptive cross-sectional research design was employed. The population consists of 56 participants. Data was collected with surveys and interviews. The study’s findings demonstrated that the control environment in the chosen SACCOs in Moyo district had a beneficial impact on financial performance. This is corroborated by the favourable internal control ratings and the highly satisfying view of the accounting and financial system of the chosen SACCOs. And well-constructed control environment has the potential to strengthen the entire governance and administration of SACCOs, resulting in enhanced financial performance. Based on these findings, the study calls for SACCOs to prioritize ethical values in their organizational culture. This includes promoting honesty, integrity, and accountability among staff and management. Ensure that the board of directors maintain their independence from management. This can be achieved by implementing governance structures that prevent conflicts of interest. Continuously adhere to audit standards and best practices to maintain high-quality financial reporting and internal controls. It is equally recommended that SACCOs should conduct periodic internal reviews of control activities to identify weaknesses and areas for improvement. It is recommended that management be tasked with the responsibility of promptly reviewing audit reports and resolving any non-compliance issues identified within them. Keywords: Stewardship, Internal controls, Savings, Cooperative societies, Financial performance.

Model-Informed Radiopharmaceutical Therapy Optimization: A Study on the Impact of PBPK Model Parameters on Physical, Biological, and Statistical Measures in 177Lu-PSMA Therapy.

Purpose: To investigate the impact of physiologically based pharmacokinetic (PBPK) parameters on physical, biological, and statistical measures in lutetium-177-labeled radiopharmaceutical therapies (RPTs) targeting the prostate-specific membrane antigen (PSMA). Methods: Using a clinically validated PBPK model, realistic time-activity curves (TACs) for tumors, salivary glands, and kidneys were generated based on various model parameters. These TACs were used to calculate the area-under-the-TAC (AUC), dose, biologically effective dose (BED), and figure-of-merit BED (fBED). The effects of these parameters on radiobiological, pharmacokinetic, time, and statistical features were assessed. Results: Manipulating PBPK parameters significantly influenced AUC, dose, BED, and fBED outcomes across four different BED models. Higher association rates increased AUC, dose, and BED values for tumors, with minimal impact on non-target organs. Increased internalization rates reduced AUC and dose for tumors and kidneys. Higher serum protein-binding rates decreased AUC and dose for all tissues. Elevated tumor receptor density and ligand amounts enhanced uptake and effectiveness in tumors. Larger tumor volumes required dosimetry adjustments to maintain efficacy. Setting the tumor release rate to zero intensified the impact of association and internalization rates, enhancing tumor targeting while minimizing the effects on salivary glands and kidneys. Conclusions: Optimizing PBPK parameters can enhance the efficacy of lutetium-177-labeled RPTs targeting PSMA, providing insights for personalized and effective treatment regimens to minimize toxicity and improve therapeutic outcomes.

The Impact of ESG Policies of Enterprises on Internal Rate of Return

Environmental, Social, and Governance (ESG) is an investment strategy and corporate assessment framework that emphasizes the impact of enterprises on the environment, society, and governance. Its objective is to assess companies' performance and non-financial risks in relation to sustainable development. The internal rate of return (IRR) is the rate at which the project's cash flow is equal to zero. The objective of this study was to examine the correlation between an enterprise's ESG score and its IRR. This work utilizes quantitative analysis and multiple linear regression approaches, building upon earlier research that has examined the relationship between ESG factors and financial indicators. This research used Excel 2018 to do regression analysis on ESG and IRR, building upon the findings of prior studies. The research findings indicate a strong negative linear link between a company's IRR and its ESG rating, as well as its overall revenue growth rate. However, the total profit growth rate shows no significant correlation. Moreover, this study discovered that the overall rate of revenue growth has a more significant influence on the firm's IRR compared to the rate of ESG factors. This report presents a divergent finding from the bulk of other studies, offering a novel research avenue for examining the influence of ESG on financial performance.

Internal rates of return for public R&D from VECM estimates for 17 OECD Countries

Public R&D stimulates domestic private and foreign private and public R&D, together enhancing technical change and thereby GDP. In this paper, we evaluate vector-error-correction model (VECM) estimations and simulations of a companion paper in regard to internal rates of return (and related aspects) to additional public R&D of OECD countries and compare them to the macroeconomic literature. We show (i) internal rates of return to public R&D shocks, and (ii) the related payback periods, gain/GDP ratios, and sums of discounted (at 4%) gains. Fourteen of 17 countries show high internal rates of return, short payback periods, and high gains/GDP ratios from positive public R&D shocks if projects are stopped when gains get negative. Three countries show crowding-out effects and require (initial) reductions of public R&D before showing positive results.