Business Investment Research Articles

Sustainable Silt Management in the Lower Kosi River, North Bihar, India: Demand Assessment, Investment Model and Socio-Economic Development

The Kosi River, draining through Nepal and north Bihar, India, has been known for excessive sediment (commonly called silt) deposition—a primary cause of several hazards. However, there are still no good estimates of the volume of silt accumulated in the Kosi River channel, which makes removal and utilization of silt a major challenge, both technically as well as economically. In this work, we first present a novel method to estimate sediment volume on a reach scale using hydrological and channel planform data mapped from satellite images. We then identify various commercial uses of the Kosi River sediments such as embankment construction, backfilling, land reclamation, landscaping, agricultural applications, industrial applications, and geotextile silt walls. In consultation with various stakeholders, backfilling and embankment construction were identified as potentially the best solutions shortlisted for the development of a business case and investment model. Therefore, we prepared an investment model based on economic viability, cost-to-benefit ratio, and stakeholder consultations for two districts. We performed a SWOT analysis by breaking down the opportunities and risks into political, economic, social, technological, environmental, and legal (PEST-EL) factors to identify the pros and cons within the sector and of the ecosystem in which the stakeholders operate.

An Analysis of Lagos Audience Perception of Channels Business Morning Programme on Investor Relations

This study analysed the perception of Channels’ Business Morning programme on investor relations in Lagos. The objectives of the study were to: find out the extent of exposure of audience in Lagos to Channels’ Business Morning programme; investigate the perception of audience in Lagos of Channels’ Business Morning and ascertain whether or not the perception of audience in Lagos of Business Morning translates to investment decision. The survey research design was employed for the study. The population of the study was 2,952,861 from selected cities in Lagos, with 384 as the sample size using the Keyton’s table. The questionnaire was the instrument for data collection. Among others, the study found out that there is a high level of exposure to Channels’ Business Morning programme in Lagos. It also showed that respondents held positive perception of the programme as a valid and objective source of business news and investment- related information. The researchers recommended that citizens should take advantage of their exposure to financial programmes such as Channels’ Business Morning to continually increase their understanding of finance and investments and improve their financial wellbeing. Corporate organisations should leverage on financial media programmes such as Channels’ Business Morning, to enhance their engagement with shareholders and potential investors by making available accurate and transparent financial information. T

The effects of financial frictions on Slovenian companies: A panel VAR approach

In this paper, we investigate the impact of imperfect financial markets on the business investment of Slovenian non-financial companies. We focus on exploring the borrower's balance sheet channel, through which companies’ worsening balance sheets, reduce the availability of external finance. The effects of exogenous shocks are, therefore, amplified through the financial accelerator mechanism and affect the overall economy. Using data from annual reports of Slovenian non-financial companies from 2005 to 2020, we estimate a panel VAR model on various sample definitions. The results confirm the existence of the balance sheet channel, as the impulse response of investment to cash flow shocks is statistically significant. This effect is especially noticeable during the period from 2006 to 2012. Our findings suggest that financial frictions affect the availability of external financing and, consequently, the investment activity of Slovenian non-financial companies. Policymakers should prioritize measures to ensure adequate external financing, particularly for financially constrained firms, to mitigate the negative impact of reduced economic activity during periods of financial distress and economic downturns.

A Behavioral Account of Opportunistic Diversification: Evidence from Non-Real-Estate Firms’ Investment in Real Estate

AbstractThis study provides a behavioral account of opportunistic diversification. We argue that top executives’ social comparison with peer firms based on business segment performance can lead them to increase their investments in high-profitability new businesses (i.e., opportunistic diversification). Specifically, when the performance of a firm's main business relative to its peer firms’ high-profitability business segment falls short of their aspirations, the firm's top executives will engage in problemistic search and subsequently increase opportunistic diversification. This effect is stronger when the firm is similar to peer firms along key firm characteristics and when top executives of the firm are underpaid. Although opportunistic diversification helps improve a firm's short-term accounting performance, it may weaken its long-term performance. Using Chinese non-real-estate firms’ diversification investment in real estate as our empirical context, we find support for our arguments.

Asian Paints: a valuation dilemma

Learning outcomes This case study will allow students to understand and analyse the process for conducting equity valuation by building a three-statement financial model, to understand and apply the workings of discounted cash flow (DCF) valuation methodology and its components, to apply the concepts related to the calculation of the weighted average cost of capital in the determination of discounting rate, to understand the terminal value calculation and assumptions thereof and to analyse the intrinsic valuation for the target company using the traditional multi-stage DCF model for investment decision-making. Case overview/synopsis In July 2019, Kapil Agarwal, an equity analyst operating out of Mumbai, India, was carefully looking over the financials of Asian Paints, a leading paints company in India. As an equity analyst, Kapil was constantly on the lookout for fundamentally strong but undervalued companies that could create long-term wealth for his equity fund. To decide upon the right valuation of Asian Paints, Kapil conducted fundamental analysis using the DCF method on the basis of available financial information. This case study puts students in an investment analyst role wherein they forecast financial statements and conduct DCF valuation for Asian Paints to discover potentially undervalued stocks for investment decision-making. Complexity academic level This case study is designed for use in an undergraduate or postgraduate programme in business management, particularly in a course on business valuation or investment management or security analysis. Supplementary materials Teaching notes are available for educators only. Subject code CSS 1: Accounting and Finance.

India-Latin America Relations, 2000-22: Their Encounter and Shared Gains

ABSTRACT India’s relations with Latin American countries are of long-standing but they had had low salience for both sides. During the early 21st century, the salience increased for both. What explains this change? The confluence of shifts in the structure of the international system, economic and political regime change, and the rise to office of new governments in India and key Latin American countries, in particular Brazil and Mexico, permitted and fostered an acceleration and intensification of relations between India and such countries. The heightened inter-country partnerships during 2004–14 resulted from statecraft, that is, the deliberate actions of the governments of India and its key Latin American partners in response to new international system opportunities and the subsequent actions of their respective business communities. Prime ministers and presidents acted on the structural opportunity to enact innovative foreign policies. These governments coordinated their policies in multilateral institutions, helped to reshape them, and innovated in creating new multilateral entities. They also opened new avenues for business investment and trade. In time, democratic politics – the transfer of power from incumbent parties and leaders to the opposition – converted one administration’s policy into the foreign policy of the State.

The efficiency of agricultural spending in Italy: A territorial analysis

This paper assesses the efficiency of public agricultural expenditure in each Italian region through the analysis of regional budgets, both as a whole and in relation to specific agricultural policy measures. The degree of integration/complementarity between regional funds and Community funds of the second pillar of the CAP is also evaluated, in order to determine whether European resources are used by the Regions as a substitute for or in addition to regional measures. In Italy, public agricultural funding comes from three sources: the EU, the State, and the regions. While the literature on the effectiveness and efficiency of public spending in agriculture focuses on EU funds, the present research also takes into consideration the agricultural spending of Regions.This original analysis of agricultural spending at the regional level has been made possible by the databank of the CREA (Council for Agricultural Research and Economics), which has been gathering information on the allocations, payments, and remaining balances of regional accounts since 1990. The expenditure items for the agricultural sector included in the regional budgets were reclassified according to an original methodology created by the INEA (National Institute of Agricultural Economics, today CREA). The results show that the overall efficiency of public expenditure has improved over the last two decades (from less than 40% in 2000 to just over 50% in 2019). This improvement is quite evident in the South and the Islands and less so in the North. Agricultural policy measures that can be defined as "short term measures" (contributions to public and private entities involved in agricultural and forestry activities for running costs, such as salaries, telephone, electricity, etc.) show a good spending capacity, while measures requiring planning, such as business investments, still present difficulties. As regards integration/complementarity between regional funds and EU Fund for Rural Development Programmes (RDPs), the regions have been classified depending or whether or not they differentiate between the RDP financing and Budget financing. In the most recent period of 2014-2020, most regions have tended to target both sources of funding to support the same types of priority activities.

Pending Final Decision Cases of Application of the Direct Deduction Method for Concurrent Investment Business Entities

兼營投資業務營業人取得之股利收入，需要列入年度最後一期免稅銷售額申報，以計算營業稅調整稅額，計算方式有比例扣抵法與直接扣抵法。對於原採用比例扣抵法申報，於何種情況下屬於未核課確定案件，而可改採直接扣抵法，使計算之稅額更符合實況，本文將就相關議題進行探討。

The effects of insecurity on think home philosophy in the South East: The issues, challenges and problems

Insecurity in Nigeria has assumed a weird situation to the extent that no region of the country is immune from the nauseating experience that has led to the death of hundreds of thousands of people. For instance, a total of 1,486 people in the country were victims of insecurity in January 2022 – 915 of whom were killed and 571 were kidnapped. The south east which hitherto was a peaceful zone has turned to a theatre of killings occasioned by the intolerable activities of the unknown gunmen who take delight in the forceful sit-at home that has turned the south east into a fearful zone devoid of free movement of people. This by all intent and purposes have truncated the laudable think home philosophy of the Igbos. The dramatic surge in the activities of the unknown gunmen was as a result of the separatist agitation associated with the designation of the Indigenous People of Biafra as a terrorist organization by the Federal Government. This study will be guided by three objectives of the study among which is to examine the extent to which insecurity has affected business investments in the south east. A qualitative descriptive research design will be adopted; it is recommended that the governors of the south east should establish a security network that can fight the insecurity in the south east otherwise the region will continue to depreciate in terms of business investment.

재한중국인의 범죄 안전의식이 삶의 질에 미치는 영향

In line with the recent global trend of globalization, active exchanges in the politics, economy, and culture of each country are taking place. In Korea, the number of foreigners coming for purposes such as studying abroad, employment, and business investment is increasing. Among them, individuals with Chinese nationality account for the highest proportion of all foreigners residing in Korea. Foreigners living in Korea, including those of Chinese origin, are adapting to a new environment, undergoing life and social changes such as adjustments to living conditions, food, human relationships, and language. Most importantly, Chinese individuals in Korea are more susceptible to becoming victims of crime due to characteristics unfamiliar to Korean society, such as difficulties in reporting damages and weak self-defense capabilities. These factors lower their quality of life and give rise to various problems. Hence, this study aims to assist Chinese individuals in Korea in improving their safety and quality of life. It seeks to achieve this by identifying the impact of crime safety awareness on their quality of life, and by establishing a theoretical basis for interventions and support for the Chinese community in Korea.
 Regarding the research methodology, a survey was conducted from April 26 to May 18, 2023, with all 101 responses used for analysis. Descriptive statistics, reliability analysis, t-tests, ANOVA, and hierarchical regression analysis were performed as analytical methods.
 The research analysis revealed several key findings. First and foremost, the demographic characteristics influencing the quality of life of Chinese individuals in Korea are marital status and educational background. Marital status is particularly significant when individuals are married, and the final education level being graduate school graduation or higher is also influential. Furthermore, based on the results of hierarchical regression analysis, the demographic factors affecting quality of life are marriage and middle school graduation. Crime safety awareness, which has an impact on quality of life, is correlated with an awareness of crime and engagement in crime prevention activities. Awareness of crime has a positive effect (+), indicating that an increase in awareness leads to an improvement in quality of life. Conversely, involvement in crime prevention activities has a negative effect (-), indicating that quality of life decreases with an increase in crime prevention activities.
 Drawing from these research results, the study concludes and suggests the need for community-level crime-fighting and prevention programs to improve the quality of life for Chinese individuals in Korea. Additionally, the study recommends the development and support of various psychological, counseling, and educational programs to alleviate the fear of crime victimization and enhance the overall well-being of the Chinese community in Korea. The study emphasizes the importance of conducting further research on crime safety awareness among Chinese individuals in Korea, particularly focusing on the fear of crime victimization, through subsequent studies. It underscores that intervention and support for the adaptation of Chinese individuals in Korea are critical aspects to consider.

소셜벤처 비즈니스 모델 유형별 투자선호도가 투자의도에 미치는 영향

The purpose of this study is to analyze the effect of preferences for each of the three types of social venture business models, a hybrid organization, on investment intention. In addition, it is intended to verify the mediating role of positive emotions in the relationship between preferences by type and investment intention. In order to conduct this study, a survey was conducted on 101 investors.
 The results of the study are as follows. First, based on the hybrid characteristics of social ventures, the types of business models were classified into 'Embedded', 'Integrated', and 'External', and the relationship between type preference and investment intention was analyzed. Second, positive emotions have been shown to play a mediating role in the relationship between preferences for social venture business models and investment intentions.
 Based on the results of this study, the following implications were presented. First, the higher the preference for embedded, integrated, and external business model types, the higher the investment intention, so it is necessary to analyze investment cases by business type in detail to find ways to reduce investor uncertainty. Second, social venture managers should consider what business activities to include social missions in and include them as sustainable programs so that they can lead to investment intentions. Third, from the perspective of investors, it was confirmed what factors are needed and affect in investing in social venture business. Through this, social venture managers will be able to establish specific strategies that can be presented to investors. Finally, through this study, various follow-up studies by domestic investors, social venture companies, and related parties can be expected by verifying the relationship between investors' positive emotions and investment intention variables according to the type of social venture business model.

Boko Haram Terrorism and Socio-Economic Development in Borno State, Nigeria

The violent extremist group, Boko Haram, operating in Northeast Nigeria has severely damaged the region's infrastructures and left thousands of people displaced. The incessant violent attacks had caused serious disruption and decline in economic activities, investment and education. This would have substantial implication for the socioeconomic development of the North-East generally, and Borno state particularly. Borno state is the epicenter of Boko Haram terrorism in Nigeria’s least developed geo-political zone. Terrorist activities over the years have further worsened the people’s already difficult socioeconomic conditions. Thus, the study adopted qualitative methodology to examine the effect of terrorism on Borno state’s socio-economic development. Hinged on state fragility theory, the study argued that whereas several efforts have been made to combat terrorism, Nigeria’s fragile and weak system greatly hampered these efforts. Considering the essentiality of education for long-term development, incessant abductions of pupils and disruptions of educational activities have further jeopardized the state's chances of development. The study found that terrorism has dealt a terrible blow on business activities, mobility, investment and educational opportunities in Borno state. In order to engender sustainable development, it is imperative that the Nigerian government, domestic stakeholders and international development partners intensify collaboration to address the menace of terrorism in Nigeria. Keywords: Boko-Haram, Displacement, fragility, Socio-economic development, Terrorism

The Analysis of Indicators of doing business and Foreign Direct Investment: A time series analysis for Pakistan

For many developing countries foreign direct investment is very important for the development of economies. The level of FDI for Pakistan is always remained low is compared to other developing Nations who are leading the world. It is also important to notice that to analyze the impact of various parameters which are used for starting in ease of doing business on FDI in Pakistan. At the analysis of ease of doing business indicators it was done to check how the environmental has been changing since 2012 to 2022. This time series data analysis is done for the period of 2012 to 2022 which impacted the multi-currency analysis for Pakistani Nation. Here regression model is run for status statistical software which transform the data and 4 indicators were significantly impacting on the FDI flows in Pakistan. This research also indicated that the contracts, taxes, electricity bills and permits having some significant impact on the FDI flows in economy.

An Exposè on Encumbrance in Political Parties' Financing and Electoral Credibility in Nigeria

Purpose: This study examines political party financing and voting behaviour in north-central Nigeria, with particular focus on the level of financing in the region, the underlining motivations for such financing, and insight into the benefits or otherwise of political party financing on governance and development in the region vis-à-vis electoral process credibility. Theoretical framework: Electoral window in Nigeria political terrain is conceived by the elite as investment venture of which profit is to be maximized by means of exchange of electorates voting power for money, entrenchment of poverty and by extension hold the electoral system to hostage via manipulation, corruption and election irregularities and weak judicial system. According to the investment and social exchange theory, the political class are to business of investment for profit and exchange of services (voting power/vote buying) transaction politics for elite interest aggregation and articulation. Design/Methodology/Approach: The study uses using survey and in-depth interview. The research work was carried out across three dominant political parties in north-central Nigeria, namely the All Progressive Congress (APC), People’s Democratic Party (PDP), and Labour Party (LP), in the north-central geopolitical zone of Nigeria. The research follows three stages of random sampling. Stage one involves the random sampling or selection of two local governments across Benue, the Plateau, and Nassarawa, totaling six units of study. Stage two involves the random selection of two council wards from each of the six (6) identified focus areas, for a total of twelve (12) council wards. Stage three involves the selection of 18 respondents from each unit sampled, making a total of 216 respondents for the study. The study made use of descriptive statistics (Graphs) to analyse the data obtained from a field survey and interview analysed thematically. However, 200 questionnaires were valid for analysis after two weeks of administering the questionnaire. Findings: Findings reveal that unregulated political party financing undermines Nigeria electoral process vis-à-vis electoral credibility. It promotes political patronage and clientele networks; thus, political or electoral funders control and select politicians, thereby sacrificing good governance and development. Excessive and unregulated financing breaks the link between the electorate and politicians, leading to unequal participation, making it difficult for new political forces to emerge. Politicians with large resources often give preferential treatment to their backers, and politicians abuse their access to state resources to maintain power which in turns undermines the electoral process due to transactional (party with big money bags wins’ election) political nature in Nigeria. Research, Practical & Social implications: This study shows that political elites has weaponized transactional politics and corruption to hold on to power and by extension undermines the electoral process which in turns gave rise to bad governance, corruption and poverty in Nigeria and Nigeria is currently suffering from institutional fragility (INEC) and if proactive measures is not taken to suppress these menace in Nigeria political landscape, the country is heading to banana republic. This study helps policymakers to be in the know of the impending disaster that awaits Nigeria in the near future if proactive measures are not taking to quell this menace of transactional politics. Originality/Value: The findings suggest several consequences for the electoral processes in Nigeria and by extension Africa on how eexcessive political party financing affects the performances of eventual winners and electoral outcomes and this transactional politics does not does not benefit the north-central zone as it concerns service delivery oriented governance and development.

Can we count on the commitment of European SMEs to achieve SGD12? An exploratory study of business sustainability

The United Nations created the 17 Sustainable Development Goals (SDG) to serve as a compass for a better future, i.e., for a sustainable future, a green, socially and financially prosperous tomorrow. Due to the significant responsibility of small and medium-sized enterprises (SMEs) to environmental dilapidation and destruction, they are an essential engine to the green transition. Business activities are central to achieving SDG12. This article focuses on the contribution of European SMEs to carbon neutrality. We explore the influence of SMEs’ investment in micro resource-efficiency actions on adopting macro measures of carbon neutrality and whether investments, financial, administrative, and regulatory requirements influence the implementation of resource efficiency practices. This is the first attempt to explore the interrelationship between micro resource efficiency and macro climate change measures. A quantitative analysis was performed using descriptive statistics, factor analysis (exploratory and confirmatory factor analysis) and the partial least squares method. Data from 2021 included 17,144 European SMEs and were retrieved from the fifth wave of the Flash Eurobarometer 498. The results reveal that SMEs' implementation of resource-efficient actions at the micro level positively influenced the adoption of macro-level measures for decarbonization. Furthermore, implementing these micro-measures was positively influenced by business investment and negatively affected by external sources of finance and regulatory and administrative requirements. Overall, the findings indicate that European SMEs still have a long way to go toward the twelfth SDG and decarbonization.

Economic Risk of Wind Farm Investments in UAE: Evaluation through Real Options Approach

This study examines the potential of business investments in wind offshore farm in the United Arab Emirates through projection of five different possible scenarios. The evaluation was done by using real option approach and Monte Carlo simulation imbibing the potential risk on investment with the source of funds used. Our analysis indicates that the return on investments and the risk on delay option remain at the highest degree if the project is financed with 50% government support and 50% investor’s own equity. On the contrary, a 100% bank-financed project yields lowest investments return and lowest risk option to delay. This implies that the financial leverage and the high bank interest rate are significant factors in influencing the economic risk and return of the wind farm project. This research contributes to the existing literature by highlighting the significance of real options application in the most-sought energy sector – wind farm. Moreover, this will pave way for small and medium enterprises (SMEs) in the UAE to invest in this energy field.

“Privileged” and “deprived” in the Rhodopes: how Local Inhabitants become Activists Fighting to Keep Small Mountain Communities Alive

The presented research focuses on the ways people from small village communities in the Rhodope Mountains (Bulgaria) have united to take measures against the realization of private business interests and investments – the opening of quarries for the extraction of marble and ballast that would disrupt the established regimes of environmental protection in the region of the Middle Rhodopes - these are the protected areas included in the UNESCO biosphere reserve Chervenata sténa (Red wall) and the ecological network “Natura 2000”. The text is focused on people’s strategies of coping with change and uncertainty such as protests and social resistance movements that mobilize public support through social, kinship and political networks. The following issues are discussed in more detail: the emergence of new political, cultural, and ecological awareness of mountain communities fighting against the environmental exploitation of their territories; the role of the new inhabitants and their families in preserving local livelihoods and traditions, and the many forms of negotiation on how living together, including different visions and even conflicts on practices of resource management, sustainability, and heritage.

A facial expression and expert recommendation fuzzy decision-making approach for sustainable business investments within the metaverse world

Commercial transactions in the metaverse have become more popular in recent years. Sustainable investments are a prerequisite to metaverse survival and growth. There are various factors that have an impact on the performance of sustainable business investments, such as financial analysis and organizational effectiveness. However, each of these improvements leads to increased investment and costs. These new investments may create a heavy financial burden on businesses. In this context, there is a great need to conduct a priority analysis of the criteria affecting these investments in the metaverse. This study uses a balanced scorecard to analyze the alternatives of sustainable business investments in the metaverse. For this purpose, a hybrid quantum spherical fuzzy decision-making approach is proposed by using the facial action coding system and collaborative filtering to measure the weights of the balanced scorecard perspectives with the extended decision-making trial and evaluation laboratory (DEMATEL) and to rank the alternatives of sustainable business investments within the metaverse with the extended technique for order preference by similarity to ideal solution (TOPSIS). The analysis perspectives are finance, customers, internal process, learning, and growth. The alternatives are determined as real estate, commerce, tourism, education, and community development for sustainable virtual investment decisions in the metaverse. The novelty of this study is to construct a new decision-making approach based on facial expressions, expert recommendation systems, and the quantum spherical fuzzy sets, as well as a new concept of sustainable business investments within the metaverse. It has been determined that the organizational effectiveness of the enterprises is very important in realizing sustainability goals and increasing sustainability performance. Similarly, tourism is the most suitable sustainable virtual investment area in the Metaverse universe. Using resources to ensure organizational effectiveness helps businesses reduce energy, water, and raw material consumption. This situation contributes to achieving sustainability targets as it allows the consumption of fewer natural resources.

The Impact of Female Executives on Corporate Development from the Perspective of ESG Investment

In recent years, gender equality has increasingly become the focus of international attention. The proposition of gender equality is widely used in politics, economics, and other fields. As a new investment concept emerging in the field of global economic law in the last decade, when assessing the potential for long-term growth, environmental, social responsibility, and governance investments also consider the social and long-term value of businesses. In the process of pursuing sustainable development, environmental and social responsibility, governance investment, and the embodiment of gender equality in enterprise management and business investment are inseparable. The research topic of this paper is the impact of female executives on corporate development. This paper mainly uses data from the China Stock Market and Accounting Research Database and the State Intellectual Property Office. Through legal study and data analysis, which are the three perspectives of the environmental, social responsibility, governance, and investment approaches. Then the paper evaluated the data using the Dow Jones Sustainability Index. Score the sample data with the Dow Jones Sustainability Index, and compare the final score to determine the sustainable development ability of the company. Deeply considers the role of female executives in the enterprise and the existence of female executives on investors, boards and even the entire company.

The Corporate Strategy Study of NIO Company

A growing need for investment and transactions in the new energy vehicle business has been seen in recent years due to the industry's quick expansion. China's national policies also strongly support the development of new energy vehicles. Take NIO as a case; NIO is a global new energy vehicle company founded in 2014. At present, it is also a leading automobile brand in China. This article will estimate the cash flow of NIO for several years and give the cash flow forecast of NIO through the DCF valuation model. Finally, the business and technology of NIO will be analyzed from different stages of the business environment.