Investment Perspective Research Articles

Analysis of the road safety in the EU countries and the impact of PBM on its improvement

Abstract The occurrence of a large number of road fatalities necessitates making improvements in road safety conditions. Governments and experts of European countries have been involved in this activity by investing efforts to increase security as well as achieve the goals of the European Commission (EC) to reduce fatalities by 50% by 2030.They aim to achieve road traffic without any fatalities occurring by 2050. Including a series of innovations for safety in the auto industry, deploying ITS technology, enforcing stringent legal regulations, emphasising on higher education of all traffic participants and undertaking other such important actions help achieve the set goals. Furthermore, adequate road maintenance with the use of modern models will definitely contribute to improving road safety. Moreover, it is necessary to regularly monitor road safety indicators and react accordingly on time. This paper presents a current state safety analysis from the perspective of road fatalities and road maintenance investments (RMIs) in the European Union (EU) and in European Free Trade Association (EFTA) countries. The main objectives of this paper are to analyse road safety aspects and emphasise on the relation existing between road fatalities and RMI. Concurrently, the objective of this paper is to verify the possible influence of the performance-based maintenance (PBM) model on improving road safety in the European Union. As part of the research, 27 EU member states and 3 EFTA members were analysed in the period 2010–2021. The results indicate a connection between road fatalities and RMI. Thus, this particular one is almost linear at the average EU level and that PBM models can directly contribute to improving traffic safety and indirectly by savings in maintenance costs.

Retail Investors Perspective towards ESG for Investment Decisions

Retail Investors Perspective towards ESG for Investment Decisions

COHORT ANALYSIS OF SAVINGS AND INVESTMENT STRATEGIES AMONG WORKING WOMEN IN AHMEDABAD CITY

This study aims to analyze the saving and investment patterns of working women in Ahmedabad city, Gujarat. The research objectives include studying the concept of saving and investment patterns and analyzing the attitudes of working women towards their saving and investment patterns. A sample size of 250 working women based in Ahmedabad was interviewed for this study. The study utilized a mixed-methods approach, which included both quantitative and qualitative data analysis. The findings of this study reveal that working women in Ahmedabad exhibit positive saving and investment patterns. Many of the participants diversify their investments across different avenues to reduce risk and take a data-driven approach to make investment decisions. The study also found that working women in Ahmedabad are resilient and can adapt easily when things go wrong financially. Furthermore, the study found that working women in Ahmedabad have a long-term investment perspective and are willing to tolerate losses in their investment value to seek higher returns. Additionally, the participants showed a positive attitude towards savings and investment and believed that investing is crucial for achieving financial stability and independence.

Do Bank Mergers has Forgone or Undergone Value? From the Perspective of Investor

Purpose: The purpose of the study is to explore banking industries investors’ perceptions about merged banks synergies “economies of scale, brand scope and market power “reaction to mergers.
 Design/methodology/approach: Based on the descriptive research design, a quantitative survey was adopted and administered to 117 investors through judgmental sampling techniques. Structural Equation Modeling (SEM) was then utilized to evaluate the significance of direct and indirect relationships between the various factors under study.
 Findings: The results confirm that the bank products & services and prices affect positively similarly, brand strategy and sales channels affects positively to the perceived gain of investors after mergers.
 Research limitations/implications: The absence of a longitudinal study measuring the post merger perception of investor is the main limitation of this study. Moreover, despite being insightful, the result of this study is generalized around small geographic area only.
 Originality/value: This study is an initial attempt to fill the void in published information about the behavioral finance of bank mergers. It provides new empirical insights about the effect of post-merger performance perceived by investor’s perspective.

Artificial Intelligence: Perspectives of Entrepreneurs and Investors

The paper analyzes the views of technology entrepreneurs and investors on artificial intelligence (AI). The study uses two data collection methods: interviews and questionnaires. Based on the results of the analysis, respondents' views on the main risks associated with the use of AI were revealed, as well as the expected effects from its use in emerging companies. Using ordinal logistic regression, it was revealed that the idea that AI is “hype” is negatively influenced by the experience of founding a company, as well as the use of AI in everyday life. Using the method of hierarchical clustering, groups of respondents with similar views on AI were identified and described.

Mahindra and Mahindra Financial Services Ltd– A Case Study

Purpose: This paper is about the organizational analysis of Mahindra and Mahindra Financial Services Ltd [MMFSL]. There are investment products with moderate returns and relatively minimal risk. Numerous public sector banks, private sector banks, non-banking financial companies, and other financial organizations provide these investing facilities. From the perspective of investors, this research offers a variety of details about Mahindra and Mahindra's financial services portfolio, the many goods and services they offer, as well as the steps a consumer must take. Design/Methodology/Approach: Companies that provide financial services set their goals, which may include things like customer satisfaction, market expansion, revenue growth, risk management, and regulatory compliance. To enable effective collaboration, decision-making, and accountability, a clear organizational structure is built. This entails evaluating consumer demand, researching the competition, and seeing chances for product innovation or difference. Findings/Result: Over the years, MMFSL's loan book and profitability have increased gradually. The company's financial success is influenced by several variables, such as interest rates, the general state of the economy, and the demand for automobiles and equipment. To lower risk and boost revenue streams, MMFSL has been seeking to diversify its business beyond car finance. They have grown to finance more asset classes like commercial vehicles, used cars, and construction equipment. To improve the convenience and accessibility of loan applications, approvals, and repayments, they have launched a few digital platforms and initiatives. Originality/Value: It primarily focuses on learning about organizations in-depth, including the responsibilities of the organization and competency mapping, to understand how well the firm is working and to examine its current competitors. The proposed work determines the company's liquidity condition. The SWOT analysis framework is used for evaluating the company's strengths, weaknesses, opportunities, and threats. Paper Type: Case Study.

The Value of Active Management in Equity Mutual Funds: A Case of Mutual Funds Distributed in the Czech Republic

The primary purpose of this study is to evaluate the active management in a mutual fund from the perspective of a Czech retail investor and compare it against their passive alternative. In total, 50 mutual funds and three passive exchange-traded funds (ETFs) were analyzed across three regional groups (Global, American, and European) from July 2011 to June 2021. The data was analyzed through regression utilizing the Fama-French 3 factor model to determine the funds’ alpha, ensuring a fair risk-adjusted comparison of funds. The detailed analysis showed that 13 of the 50 officially active funds are not considered active and may be suspected of so-called closet indexing. Such funds are being paid for active management, which they are not performing. Thus, the client is being deceived and is essentially getting an overpriced index fund. Moreover, it was confirmed that ongoing fee is a negative performance predictor – more expensive funds deliver lower net returns; thus, they cannot justify their cost. The findings mentioned above were consistent among the analyzed groups but were less apparent and significant for the European funds. Lastly, the results were compared with previous research and discussed from theoretical and practical perspectives.

The Business Model of an Emerging Hydrogen Market in the Swedish Transportation Sector – outlook towards 2050

With the rapid growth of hydrogen and associated initiatives, there is a need to review the state of knowledge on hydrogen business models, and to specifically understand efficient production and distribution to the transport sector. Previous studies have focused on specific parts of business models, such as revenue streams, price models or profitability, but have failed to take a holistic approach to business models that also includes analyzes of value proposition, customer segments, relationships and channels as well as partnerships, resources and activities required to achieve the value proposition. This study adopts a holistic view of business models and conducts a review of the current state of business models in hydrogen followed by an analysis of the future boundary conditions that hydrogen actors need to account for in 2050. Investor perspectives on the industry are also adressed Based on these insights, two future-oriented business models are proposed and validated with stakeholders and investors in hydrogen.

Evaluation of the green economic value added index in the game of enterprise capital providers

This study explores the performance evaluation of steel enterprises, emphasizing the importance of green environmental performance. Based on the review of the current situation of green investment research, economic added value evaluation system, and game analysis of enterprise capital providers, this study discusses the comprehensive evaluation of games among enterprise capital providers from the perspective of green economic added value. It constructs a game model of capital providers from the perspective of green investment. This model is based on the probability of creditors making green bond investments and shareholders pledging equity, deriving game results, and using economic added value returns to measure enterprise performance. The main data in this study are from the CSMAR database, a corporate governance project, and the relevant environmental protection data from Nangang's annual report. The results show that the green economic added value return rate is higher than the traditional economic added value return rate, indicating that environmental investments do not reduce the operational performance of enterprises. The game of capital providers leans towards equity investment and does not enhance enterprise performance at the expense of the environment. The green economic added value index only reflects past operational performance, based on which enterprises can design reasonable performance evaluation mechanisms, encouraging capital providers to favor environmental investments. This study has important theoretical and practical significance, guiding enterprises' strategic choices during green transformation.

Analisis Penganggaran Modal Pekerjaan Perluasan Terminal Bandara Internasional Lombok PT. Angkasa Pura 1 (Persero)

This study aims to analyze the budgeting process for the Expansion of Zainuddin Abdul Madjid Lombok International Airport Terminal at PT. Angkasa Pura 1 (Persero). The output of the final planning report will be analyzed using a comparative description method of aspects of company budgeting through the perspective of capital budgeting or investment, which is more project management or engineering system than investment in securities or others. The budgeting of Lombok International Airport Terminal Expansion Work from the search results has fulfilled some aspects of good corporate budgeting, although some strategic predictions missed expectations. The company's own capital budgeting in application and practicality there are several weaknesses in predicting future returns from the value of investments issued due to lack of integration with the company's strategic objectives or to top-level regulations that must be met, especially in the acquisition of asset values or fixed assets with significant value. With this paper, it is hoped that it can generate awareness of the importance of evaluating capital budgeting before the budget is issued to be tested for implementation from a value and time perspective.

Can network attention effectively stimulate corporate ESG practices?—Evidence from China

Environmental, social, and governance (ESG) has emerged as a widespread concern for all societal segments. This study aims to explore the influence of network attention on corporate ESG practices from an investor perspective. We find that rising network attention significantly increases corporate ESG practices. Specifically, network attention plays the role of external monitoring, image promotion incentives, and mitigation of financing constraints to make companies willing to challenge ESG practices. Additionally, the promoting effect of network attention on firms’ ESG practices was more significant in higher marketization processes, severely competitive industries, and non-state enterprises. In the internet era, companies must pay attention to the flow effect caused by network attention, meet stakeholder demands, and pursue long-term sustainable development.

Foreign agricultural investment and sustainable development in India: a granger causality analyses

PurposeThe study aims to find the synchronization between foreign agriculture investment (FAI) and Sustainable Development Goals (SDGs) related to agriculture as classified by the Food and Agriculture Organization (FAO). The study tries to find such an association in India over 2 decades from 2001.Design/methodology/approachThe Toda-Yamamoto Granger using the M-Wald test for the non-causality procedure is applied to find the synchronization. Stationarity is tested using the Augmented Dickey-Fuller, Phillips-Perron and Kwiatkowski, Phillips, Schmidt and Shin (KPSS) tests. The Johanson methodology with MacKinnon-Haug-Michelis P-value is employed for the Cointegration test.FindingsThe empirical results indicate that the FAI Granger cause SDG2 “Zero hunger” and “Overall sustainability”, but SDG13 “Climate Change”, SDG6 “Clean water and sanitation”, SDG12 “Responsible production and consumption” and SDG15 “Life on Land” granger cause global investments. Notwithstanding, SDG5 “Gender equality” and SDG14 “Life below water” found no-way causality with FAI. Practical implicationsHost governments should prioritize sector-level sustainable development, notably agricultural SDGs, to attract global investments. Foreign agriculture investment is influenced differently by various SDGs; thus, policymakers should concentrate on specific agricultural SDGs to enhance the flow of capital into the agriculture sector. Global investors should take sustainability into account while framing foreign investment plans, and the supra-national organization may consider global agricultural investments while addressing the problems related to global food security.Originality/valueThe distinguishing feature of the study is that SDGs classified by the FAO from a global investment perspective have not been studied so far.

Differentiated Analysis of Cryptocurrencies and Stocks Based on Investor Perspective

With the rise of crypto assets recent years, it helps more investors take participate in investing and think how to optimize their portfolios. The digital relations were introduced and new crypto assets should have its function aspect affect the financial sector. Due to professional knowledge is lacking, most investors couldn’t make proper choices and depend on their subjective thoughts. In some areas, cryptocurrency is not recognized by jurisdiction but it also applied in various fields depending on its characteristics. This paper aims to analyze various qualities such as profitability, liquidity and so on with many famous stocks and heated crypto assets. Another proposal is analyzing the differences between crypto assets and stocks for their better performance of portfolios. The methodology is searching specific data from the website CoinMarketCap.com, finance.yahoo.com and others to calculate various ratios, making dynamic charts and using models from other references. We wonder the various factors could be adopt behind different portfolios like time, policies and abrupt changes over the world which could affect the prices of stocks or crypto assets. In the final part, is about the conclusion of the difference between crypto assets and stocks that they have different characteristics by analyzing various data.

Optimisation of the investment strategy of the Norwegian Sovereign Wealth Fund by adjusting the real estate quota

Purpose This paper compares the benefits of direct international real estate investments in a mixed asset portfolio from the perspective of a passive investor with high and low bond allocation.Design/methodology/approach Due to high data availability and its professionalism, the Norwegian sovereign wealth fund was used as a representative example. Real estate indices from 8 countries were used for the portfolio analysis. The data were desmoothed according to Geltners’s 1993 approach.Findings The optimal real estate ratio in the present case is around 20–55%. However, this is strongly dependent on the bond ratio of the multi-asset portfolio. Portfolios with a high equity ratio benefit more from the additional direct real estate investments than portfolios with high bond ratios.Research limitations/implications A rebalancing of individual stocks and bonds was not analysed. Only indexes from MSCI (Morgan Stanley Capital International) were available.Practical implications Concludes that the weighting of stocks and bonds has a strong influence on the optimal real estate ratio and therefore structural changes that affect this weighting.Originality/value The originality of the paper lies in the analysis with different weights of stocks and bonds, the consideration of 8 real estate markets and the observation period. The results of the work highlight areas of interest for further research.

초기 기업의 ESG지표 개발 및 적용 연구

This study aims to develop ESG indicators applicable to startups and test their relevance to startup performance. To develop ESG indicators for startups, we reviewed domestic and international ESG environmental analysis and prior research, and derived a comprehensive importance ranking of indicators through AHP analysis of startup investors.
 The results show that the first level of importance is governance(G), followed by social(S) and environmental(E). The sub-indicators within the second level of environment are “Environmental Management Strategy and Policy”, “Environmentally Friendly Production”, and “Discharge of Waste Pollutants”, in order of importance, Within Governance(G), the sub-indicators were “Governance Management”, “Shareholder Rights Protection”, and “Ethical Management and Audit Organization”. The overall importance ranking of ESG indicators(Level 3) was high in the following order: “Violation of governance laws and regulations”, “ESG management and information disclosure”, “Dividend policy and implementation”, “Professionalism of the audit organization”, and “Disclosure of ethical management violations”.
 To confirm the relationship between the derived ESG indicators and startup performance and industry(manufacturing and non-manufacturing), independent sample T-test was conducted on 78 startups based on investment status and industry. In the case of companies that received investment, it was statistically significantly higher in “Human Rights Protection/Association Freedom Guarantee”, “Product Safety”, “Social Law/Regulation Violation”, “Company ESG Management”, “Company Supply Chain Management”, “Board Agenda Handling”, “Shareholders' Meeting Collection and Hosting”, and “Expertise of Audit Organization>”.
 In the case of the manufacturing industry, there was a statistically significant difference at a higher level compared to the non-manufacturing industry in “Verification of greenhouse gas emissions”, “Energy(reuse) ratio”, “Waste emissions”, and “Violation of environmental laws/regulations”. These results mean that governance (G) is recognized as important among startup ESG evaluation indicators from an investor's perspective, and show that there are limitations in applying environmental (E) factors to industries other than manufacturing in the current situation. will be. Based on these research results, we aim to derive the meaning and direction of indicator development for ESG management of startups and future research directions.

기업가적 태도가 대학생의 주식투자행태에 미치는 영향

The stock market, where stock investments are made, is deeply related to the economy. Through the experience of participating as shareholders in the stock market, college students have the opportunity to naturally analyze domestic and international political and economic situations and gain indirect experience in corporate management. Meanwhile, the stock market is an important market that helps raise funds for companies and create assets for investors, and raising funds through investments in the entire IPO series serves as a growth engine for startups and boosts innovation through entrepreneurship. Innovation and globalization of digital technology have further increased uncertainty in the stock market, but have also provided companies and investors with opportunities to create new value. In this regard, it is better to verify the investment behavior factors of young people looking for opportunities to realize expected profits through the stock market, where risks and opportunities coexist, and to investigate the potential to seize new opportunities and connect them to innovation activities. This will be the key to designing good policies.
 The purpose of this study is to examine whether the entrepreneurial attitude of creating new value through innovation activities even in the face of future uncertainty influences stock investment behavior. Startup competency, entrepreneurial intention, social values, and entrepreneurship education are We also examined whether there was a moderating effect. For this purpose, an empirical analysis of the research hypothesis was conducted targeting 215 college students representing the young population.
 Looking at the research results, first, it was confirmed that college students' entrepreneurial attitude has a positive influence on stock investment behavior. Second, the moderating effect of entrepreneurial capabilities was confirmed between entrepreneurial attitude and stock investment behavior. Third, the experience of taking entrepreneurship courses, which was examined as a control variable, confirmed that the more students took the course, the more their stock investment behavior increased.
 This study is significant in that it examined the cross-relationship between entrepreneurial attitude, education, and financial investment behavior from an entrepreneurial perspective rather than the investor perspective of existing research, and that college students' entrepreneurial attitude and resulting capabilities are important not only for starting a business, but also for starting a business. It also provided theoretical and practical implications that it could be applied as a means to achieve personal wealth.

Research on Capital Structure and Investment Value of the Technology Industry

This paper aims to discuss the changes in the IT development industry under the influence of the worldwide pandemic. The worldwide pandemic has had a very significant impact on economies all over the world. In this context, the result and the changes produced by the IT industry, which has been strongly developed recently, are undoubtedly significant. With the impact of the epidemic, all countries need to consider the spread of the epidemic. This has led to the temporary closure of schools, stores in many countries. People need to use the Internet to work, study and shop. This has made people more dependent on the IT industry. While most industries are slowing down due to the epidemic, the IT industry is growing more rapidly due to people's needs. This paper compares the WACCs of Intel, Qualcomm, and Advanced Micro Devices for the first quarter of 2023 and examines why the WACCs differ from a consumer perspective. This paper also discusses how to observe and invest in these three companies from an investor's perspective.

China's SME Financing and Shadow Bankings Positive Impact on it

The paper deals with the impacts of shadow banks on small and medium enterprise financing. The overview of the field and the current situation of SMEs are discussed, as well as how vital SMEs are in China. The financing venues and predicaments for SMEs are concerned; we further show how SMEs benefit from the shadow bank. The paper describes the relationship between SMEs and shadow banks and expounds on the shadow bank from the borrower, lender, and investor perspective. Finally, we analyze the financing environment of SMEs and find that the climate is improving though banks are pessimistic.

Financial Analysis and Valuation of Tesla Inc.

As the head of the new energy vehicle industry, whether Tesla's market value is overvalued compared to the industry average, and whether the new energy vehicle market outlook is optimistic has been a hot topic. This paper firstly compares and analyzes the business performance and several financial statement indicators of Tesla and other companies involved in the production of new energy vehicles, points out the huge difference between Tesla's valuation and its performance, and secondly analyzes the reasons for the difference in Tesla's valuation through the industrial structure and strategy of Tesla, and points out that Tesla's market value hides the capital market's special premium for technological innovation industry, high threshold industry, and environmental protection energy development. Tesla's market capitalization has a special premium for technological innovation, high-threshold industries, and environmental energy development. Finally, this paper judges the considerable development potential of the new energy vehicle industry in the new era of environmental awareness and points out that it should analyze the industry with future expectations as the main indicator and view the valuation from a long-term investment perspective.

Economic Unrest and Investment Perspective on Liquidity in relation to the Investor Sentiments

<p class="MsoNormal" style="margin-top: 12pt; text-align: justify;"><span lang="EN-US" style="font-family: arial, helvetica, sans-serif;">Liquidity and its associated issues are one of dominant strands in the market microstructure. In this study, microblogging-based behavioral perspective on economic unrest is linked to the market liquidity. The concept of liquidity is examined in terms of price dispersion relative to the quantity traded. The analysis contains the quantification of multiple linear regression, Gaussian distribution technique, and vector error correction methodology. In the economic stability period, the investor’s mood, either in positive manner or pessimistic context, had an influential role on the price impact volume-based liquidity. Meantime, the probability was higher for occurrence of price impact volume-based liquidity in response to the sentiment indicators. In the economic unrest environments, the positive bias investor’s mood was not vigorous enough to influence the dispersion of asset’s prices and trading quantity. Most importantly, the negative bias investor’s emotion was linked to increase the dispersion of asset’s prices relative to the quantity traded. Investors with a lower amount of trading quantity had declined the liquidity in the market. Additionally, there was a higher probability for occurrence of illiquidity in the pessimistic market periods. However, changes in past sentiment series were not associated with changes in pervious liquidity series, either in short run or long run. The findings may be potentially applicable to manage the behavioral perspective of liquidity risk.</span></p>