Investment Decisions In Industry Research Articles

An Interval-Valued Intuitionistic Fuzzy VIKOR Approach for R&D Project Selection in Defense Industry Investment Decisions

Defense Industry projects are high-budget projects that take many years, required infrastructure, and go through serious research and development processes. When making investment decisions, solutions obtained with models based on expert opinions and analytical techniques are required. At this point, interval-valued intuitionistic fuzzy (IVIF) methods are a good alternative to eliminate uncertainty, especially in order to evaluate all preference information provided by decision makers. In this study, multi-criteria decision making in the IVIF environment in the defense industry is extended with the VIKOR method. For the application, the literature was examined and 8 different criteria were determined. 4 different alternative projects were evaluated based on these criteria by 3 different decision makers. The results show that the analyzes performed with the VIKOR method in the IVIF environment are similar to the literature. Additionally, there is no study in the literature examining this methodology on the defense industry.

Measuring “State-Level” Economic Policy Uncertainty

Abstract We develop 50 indices of state-level economic policy uncertainty (SEPU) based on newspaper coverage frequency using 204 million newspaper articles from Mar. 1984 to Dec. 2019. We assess the validity of our measures. Our SEPU indices vary counter-cyclically with respect to state-specific economic conditions, rise before close gubernatorial elections, and exhibit a large cross-sectional variation. We demonstrate that SEPU indices are associated with the cross-sectional variation in state-level GDP, employment, income as well as industry investment decisions. Our findings highlight the importance of economic policy uncertainty at the state level in addition to the nationwide level.

Bilevel optimization model for maritime emissions reduction

Interactions between government and industry have the characteristics of leader-follower games. To protect the environment, the government uses regulations and economic instruments to indirectly influence operational and investment decisions in industry. The government needs to calibrate its policies while considering industry's self-interested, cost-minimizing reactions. In this paper, a leader-follower model is developed as a bilevel mixed integer linear program for the selection of carbon emissions mitigation measures. It is assumed that the government sets the emissions reduction target, percentage subsidy for mitigation measures, and economic penalty for excess carbon emissions; in response to these policies, industry then chooses mitigation measures to be implemented. The model is demonstrated with a case study on maritime shipping emissions, where a heuristic solution is identified using a fuzzy interactive optimization algorithm. The solution achieves 11.5% reduction in emissions through the implementation of six mitigation measures, of which only one is subsidized. General implications of these results for decarbonization policy are also discussed.

Corporate Tax Rate, Financing Policy and Investment Decisions: Evidence from 8 Asian Economies

This study intends to examine the heterogeneous impact of corporate tax rates on financing policy and investment decisions. It further quantifies how different financing options can alienate the adverse impacts of corporate taxation on industrial investment decisions. The empirical analysis is based on ten years of financial information relating to non-financial sector firms from eight Asian economies. For the regression analysis, we employ panel EGLS and the system GMM model. The statistical analysis of the study first reveals the negative and significant influence of corporate taxation on industrial investment. It also suggests the dynamic impact of different financing options on corporate investment decisions. The statistical analysis further documents the positive impact of corporate taxation on bank and trade credit financing as well as the negative effect on equity financing. In addition to linear analysis, the findings of study corroborate the existence of the moderating expression of financing options on corporate tax rates and the industrial investment relationship. Based on empirical analysis, it can be suggested that corporate managers should acquire more funding, specifically debt financing, to maintain investment volume during a period of high corporate tax rates. This study substantiates the co-association among three strategically linked decisions and suggests the significance of debt financing for mitigating the adverse impacts of taxation on corporate investment.

Measuring 'State-level' Economic Policy Uncertainty

We develop 50 novel indices of State-level Economic Policy Uncertainty (SEPU) based on newspaper coverage frequency using 204 million state newspaper articles from January 1990 to December 2019. We assess the validity of our measures. Our SEPU indices vary counter-cyclically with respect to state-specific economic conditions, rise before close gubernatorial elections, and exhibit a large cross-sectional variation. We demonstrate that SEPU indices explain the cross-sectional variation in state-level GDP, employment, income as well as industry investment decisions. Our findings highlight the importance of economic policy uncertainty at the state level in addition to the nationwide level.

The impact of Industry 4.0 on the reconciliation of dynamic capabilities: evidence from the European manufacturing industries

Industry 4.0 offers massive potential for implementing sustainability, which is a growing concern for global manufacturing industries. This paper investigates the impact of the implementation of Industry 4.0 with specific emphasis on digital transformation on the sustainability dimensions of European manufacturing industries. In doing so, we propose a framework to identify the implications of Industry 4.0 on the reconciliation of the firm’s existing and new dynamic capabilities, competencies, and market requirements to achieve sustainable competitive advantage. Using a multiple case research design, we study six European manufacturing companies, including aerospace manufacturing (AM) and electronic component and systems (ECS) manufacturing. The novelty of our study lies in developing a set of theoretical propositions that reveals interrelations between Industry 4.0, the dynamic capabilities of the firm and distinct dimensions of sustainability. Our findings show that the reconciliation of dynamic capabilities mediates the impact of Industry 4.0 on economic, environmental, and social aspects. The study provides insights to practitioners to strengthen their dynamic capabilities in order to achieve sustainability while implementing Industry 4.0. Moreover, the findings also facilitate investment decisions in Industry 4.0 projects.

Cumhuriyet Dönemi Sanayi Kentinin Biyografisi: Kırıkkale

It is known that national development efforts in the foundation process of the Republic of Turkey happened within the spatial organization and functional development processes of the settlements that took place both in urban and rural contexts. Thus, the effects of these policies in the rural context had been the design of new ideal villages called the Republican Villages (Cumhuriyet Koyu in Turkish), in order to regenerate and improve the agricultural production and also rural life. As for their reflections in the urban context, it can be said that it was founded in the early industrial towns like Kirikkale, Golcuk, Karabuk, Iskenderun, Batman which were specialized in military and strategic industries which depended on weapon, steel and iron manufacturing. The aim of this study is to analyze the development process of the spatialization, functionalisation and demographic changes of the city of Kirikkale. The city of Kirikkale was founded as an industrial town specialized in weapon manufacturing, which was improved with the development process of the city. The methodological framework of this study consists of three main stages. The first stage is assessing the data from written resources related to the socio– spatial history of the city of Kirikkale. The second stage is examining the statistical data about demographic trends of Kirikkale, and also the interpretation of the migration phenomenon and its effects on the city of Kirikkale in the spatial and functional contexts. The last stage is defining the historical development process of the city of Kirikkale by using schemas which were prepared using the information of spatial and functional analyses. It is considered that this study contributes to the academic context by discussing the spatial, functional and demographic effects of industrial investment decisions on urbanization processes. Also, it is thought that it presents an analytical framework for the Kirikkale case, in terms of planning decisions and strategies for the future in the context of the interaction between the industrialization and urbanization processes

Long-term development of the industrial sector – Case study about electrification, fuel switching, and CCS in the USA

In the urgent quest for solutions to mitigate climate change, the industry is one of the most challenging sectors to decarbonize. In this work, a novel simulation framework is presented to model the investment decisions in industry, the Industrial Sector Module (ISM) of the ModUlar energy system Simulation Environment (MUSE). This work uses the ISM to quantify effects of three combined measures for CO2 emission reduction in industry, i.e. fuel switching, electrification, and adoption of Carbon Capture and Storage (CCS) and to simulate plausible scenarios (base scenario and climate ambitious scenario) for curbing emissions in the iron and steel sector in the USA between 2010 and 2050. Results show that when the climate ambitious scenario is applied, the cumulative emissions into the atmosphere (2,158 Mt CO2) are reduced by 40% in comparison to the base scenario (3,608 Mt CO2). This decarbonization gap between both scenarios intensifies over time; in the year 2050, the CO2 intensity in the climate ambitious scenario is 81% lower in comparison to the base scenario. The study shows that major contributions to industry decarbonization can come from the further uptake of secondary steel production. Results show also that a carbon tax drives the decarbonization process but is not sufficient on its own. In addition, the uptake of innovative low-carbon breakthrough technologies is necessary. It is concluded that industrial electrification is counterproductive for climate change mitigation, if electricity is not provided by low-carbon sources. Overall, fuel switching, industrial electrification, and CCS adoption as single measures have a limited decarbonization impact, compared to an integrated approach that implements all the measures together providing a much more attractive solution for CO2 mitigation.

Comparative assessment of innovative and conventional food preservation technologies: Process energy performance and greenhouse gas emissions

Abstract This study aims to establish whether innovative food preservation technologies can offer significant reductions in energy consumption and corresponding greenhouse gas (GHG) emissions while delivering equivalent microbiological lethality, nutritional and organoleptic quality to conventional processes. The energy demand of high pressure processing, microwave, ohmic and conventional heating technologies, for achieving the same pasteurising effect in orange juice under commercially-representative processing conditions are measured and compared. The corresponding GHG emissions are evaluated using UK energy system emissions data, while the effect of equipment scale is explored empirically. The results show that for the same product quality, the innovative technologies are more energy- and non-renewable primary resource-efficient, with ohmic heating performing best, followed by high pressure processing at high fill-ratios. More significant improvements are expected in future, provided electricity grid decarbonisation is sustained. Energy performance improves with equipment scale for the microwave and high-pressure systems, but remains essentially constant for ohmic heating. Industrial relevance Using orange juice pasteurisation as case study, this work shows that for similar product quality, electrically-driven innovative food pasteurisation technologies like high pressure processing, ohmic and microwave heating are more beneficial than conventional techniques energy- and emission-wise, if a sufficient portion of the electricity is renewable. This is the case given the current decarbonisation level of the UK electricity grid and is expected to be more significant as more electricity is sourced renewably in the future as currently projected. The result should aid future industrial investment decisions.

METHODICAL APPROACH TO AN ASSESSMENT OF THE POTENTIAL OF THE BUSINESS MODEL OF THE ENTERPRISE

Purpose : the development of a methodical approach to carrying out objective assessment of a business model of the enterprise at justifi cation of investment decisions in the industry. Methods: the study is based on the application of methods of analysis of financial state of enterprises, structural, statistical analyses, expert assessments and business modeling. Actual information about the industry obtained from the materials of the Center server corporate disclosure. Results: widely known abroad the concept of business modeling is gradually finding its deserved recognition in the preparation of investment decisions in industry. Meanwhile, up to the present time specialists are not offered objective mechanism for assessing the degree of optimality of the business model of the industrial enterprise. Judgments about the excellence or badness of a business model are made on the basis of intuitive perception of experts about the completeness of the reflection in it of the main components of modern business. However, this approach in the justification of investment in industrial enterprise entails too high a price to erroneous conclusions based on subjective perceptions. To ensure an objective assessment of excellence models, the proposed methodological rationale of this work is based on comparing the actual parameters of the business and its target the formalized values. Conclusions and Relevance: the recommended use of the mathematical apparatus of the factor analysis of the business model of the industrial enterprise makes the work to support investment decisions in a scientifically sound procedure that guarantees obtaining reliable results.

The use for the competition theory of the industrial investment decisions—a case study of the Taiwan IC assembly industry

Abstract This study empirically analyzes model accuracy, and applies grey forecasting to handle non-linear problems, insufficient data resources and forecasting involving small samples, and to construct the co-opetition diffusion model for the Lotka–Volterra (L.V.) system. Furthermore, this study examines historical data comprising revenue trends in the Taiwanese IC assembly industry during the past ten years and selects from a range of forecasting models. Empirical study uses MAPE to precisely analyze revenue trends in the L.V. dynamic co-opetition diffusion model relation to the IC assembly industry. The nine companies will be selected from 4 to 11 of the modeling, the results of the LV model 64 accuracy test, its accuracy is higher than 95% accounted for 59 times, five times better than the grey prediction, showing LV competing diffusion model not only with grey prediction, and better than the traditional grey forecasting model to make a higher accuracy of the predicted value. Like grey forecasting, MAPE can promptly respond even given insufficient data. Additionally, MAPE is able to provide more accurate forecasting values than the traditional Grey forecasting model. This study demonstrates the applicability of the dynamic co-opetition theory forecasting model to the Taiwanese IC assembly industry and provides management with a reference for use in decisions aimed to increase managerial competitiveness.

Regulator Attitudes and the Environmental Race to the Bottom Argument

Concerns that interstate economic competition will lead states to relax their environmental regulation, potentially resulting in a race to the bottom, remain commonplace in both academic and public policy debates about state environmental policy. Most of the existing empirical work examining the race to the bottom argument tests the behavioral predictions of the argument. In this article, I focus on the attitudinal predictions. Specifically, I examine whether state regulators express beliefs consistent with what we would expect to observe if a race to the bottom dynamic operates within state regulatory decision making. Studying data from the State Environmental Managers Survey, I find that state regulators are sensitive to the effects that their regulatory decisions have on industry investment decisions and that their agencies are influenced by the regulatory decision making of economic competitor states.

GLOBAL FINANCE, INCOME DISTRIBUTION AND CAPITAL ACCUMULATION

The appreciation of the consequences of financial globalization is an important task for contemporary political economy. This paper maintains that industrial and macroeconomic instability faced by many developed and developing countries is likely to be attributed, to an extent, to changes in income distribution in favour of rentiers, financiers and other groups of financial capitalists. We elaborate on Marx's and Keynes's ideas and argue that a rise in rentiers' income might have been an obstacle to industry's investment decisions, and detrimental to capital accumulation. The econometric analysis conducted provides evidence in line with the paper's major hypothesis for the United States and the UK. Copyright 2006, Oxford University Press.

Long-Term Availability of Railroad Services for U.S. Agriculture

Future customer demands, service availability, and industry investment decisions will shape the modal marketing decisions of the grain-marketing sector. The Delphi technique is used to survey a cross section of grain-industry experts regarding future trends for the grain-marketing sector. The survey produces several interesting expectations, including further consolidation of the rail and elevator industries, increasing prominence of the heavy-axle cars in grain service, the upward trend in rail rates, increased use of market-based car-ordering systems and shuttles, expansion of the short-line rail network, and small market-scale, but large-volume, increases in the share of grain marketed via container. The insights are valuable in understanding the future of the rail grain industry. These expert opinions are important to identify research needs and discuss implications of government policy and market investment that affect the rail grain sector.

A System Dynamics Model of Mining Industry Investment Decisions within the Context of Environmental Policy

This paper describes a detailed computer model developed using the Powersim simulation program in the system dynamics tradition. The model comprises over 180 interrelated variables, providing a means of examining the effects of varied environmental, fiscal and corporate policies on the flow of investment funds and mineral resources between a number of simulated mining firms and competing countries. An outline of the system dynamics method is presented, followed by a high-level overview of the model structure. Examples of the application of the model are then discussed.

A System Dynamics Model of Mining Industry Investment Decisions within the Context of Environmental Policy

This paper describes a detailed computer model developed using the Powersim simulation program in the system dynamics tradition. The model comprises over 180 interrelated variables, providing a means of examining the effects of varied environmental, fiscal and corporate policies on the flow of investment funds and mineral resources between a number of simulated mining firms and competing countries. An outline of the system dynamics method is presented, followed by a high-level overview of the model structure. Examples of the application of the model are then discussed.

A Study of Industry Investment Decisions

A Study of Industry Investment Decisions

Aubrey on Industrial Investment Decisions

Aubrey on Industrial Investment Decisions

Industrial Investment Decisions: A Comparative Analysis

In Presenting this paper to an audience of historians I find myself in a painfully ambiguous position. I am not qualified to talk to you as a historian; therefore what I am going to say will lack the richness of empirical detail that usually characterizes historical papers. On the other hand, in order to qualify as “comparative analysis” this paper ought to have a firm theoretical foundation for its analysis, and accepted standards of reference for its comparisons. Unfortunately, the development economists are still at the beginning of their difficult attempts to isolate the factors that make for economic development, and the complex interaction of these factors has so far eluded systematic analysis and presentation.