Return Values Research Articles

Green Wheels, Greener Wallets: Economic Viability of Last-Mile Delivery Fleet Electrification in Case of Latvia

The analysis of internal combustion engine vehicle (ICEV) usage habits in the DPD Latvija company and the study of the specifics of its last-mile delivery transport business will allow to understand whether electromobility solutions can make the company more efficient. The question addressed in the research is whether the electrification of the delivery vehicle fleet can reduce transport expenses for the company and under what conditions. For estimation of direct and indirect costs of transport acquisition and usage Total Cost of Ownership (TCO) is used. The company’s daily operation parameters and technical data of the used vehicles VW e-Crafter and VW Crafter 35 Kasten/long base are considered in the study. Net Present Value (NPV) and Internal Rate of Return (IRR) calculation methods are used for analyzing the investment project. The expense of the creation of electrical vehicle charging infrastructure is not considered, because the company’s daily routine allows to cover all charging processes overnight by using domestic sockets together with Mode 2 chargers. All technical data and calculations were made for deliveries in a city cycle. In financial terms of owning delivery transport, the company is using a 5-year operational lease with 0% first payment. The obtained results in terms of TCO comparison showed a slight advantage by using EV after 5 years of last-mile delivery service per 1 vehicle – 706.98 Euro at 31200km a year or 100km in the working day of 6-day working week (156000km in 5-year is under 160000 warranty condition). The calculation is performed for DPD Latvija 213 ICE vans of a total 240-vehicle fleet. Results of NPV, NPVI, and IRR with a comparison rate of 10.6% for EV case clearly show a sufficiently good return. The Net Present Value of the solution is 89271.92 Euro and the Internal rate of return is 48.05%. The study proves that the electrification of the last-mile delivery company's fleet is economically justified and within 5 years. In the process of electrification, the company will reduce its expenses – by 1.45%, which increases the net annual profit by 0.13%. The main conclusion is that the company will not incur losses by switching to an environmentally friendly vehicle, the capital investment in a realistic scenario pays off already from the 3rd year. Nevertheless, the authors of the study recommend evaluating delivery vehicles with higher driving range parameters, because during peak delivery and seasons with cold weather, the company may experience unplanned downtime and expenses due to the need for additional charging time at public charging networks on the road, that could lead to financial losses and need for TCO calculation corrections.

Multi-aspect analysis of measures to reduce the building's energy demand

Issues related to reducing the energy demand of residential buildings are still relevant in the light of the energy transition and ongoing climate change. A single-family house from the early 1990s with a heated area of approximately 177 m2, located in the north-eastern part of Poland, was used as a case study. The article contains the results of nine years of measurements that included energy consumption for heating and domestic hot water preparation. It was estimated that the annual final energy consumption was 128.2 kWh/m2 [462 MJ/m2]. After insulating the building envelope and replacing the windows with triple-glazed ones, this value reduced to 68.2 kWh/m2 [246 MJ/m2]. The measurement results were used to build a statistical model, based on multiple regression, to calculate the energy demand of a similar building to the one analysed in this article in any given location. The article presents the second, more advanced, energy simulations model made in the DesignBuilder environment, which enabled additional analysis of the operation of the heating and ventilation system. The scope of this study also included a multi-variant economic analysis of the building energy renovation, in which the Life Cycle Cost (LCC), Net Present Value (NPV) and Internal Rate of Return (IRR) values were determined.

Total value of benefits and financial costs from independent oil palm plantations in Seruyan regency in 2023

Independent palm oil growers have participated in meeting the world's palm oil needs as well as contributing to economic development by increasing income and reducing poverty. Therefore, knowing the total value of benefits and financial costs from independent oil palm plantations is very important. This research aims to determine the total value of benefits and financial costs of independent oil palm plantations in Seruyan Regency. The Slovin method was used in selecting the sample size. The research method uses an exploratory research method, with benefit-cost analysis in the form of calculating Net Present Value (NPV), benefit-cost ratio (B/C Ratio) and Internal Rate of Return (IRR). The results show that independent oil palm plantations in 2023 in Seruyan Regency are financially feasible to implement, this is indicated by the value of benefits greater than the value of costs, namely the total value of PV benefits IDR 1,409,358,175,296.54 and the total value of PV costs IDR 44,466,996,210.44; a positive NPV value of IDR 1,501,380,296,994.71 and a B/C ratio of 3.169 and an IRR of 11 %. Where this analysis has shown that the benefit value is greater than the cost value, so financially independent oil palm plantations can provide benefits for improving community welfare. However, this prosperity does not last forever, because the value of the benefits provided will decrease in the long term, this shows that oil palm plantation activities are not feasible in the long term, to change this condition can be overcome by preparing to carry out replanting.

Feasibility of Haruan Snakehead Fish Breeding Units for Recipients of Non-Cash Government Assistance Revitalization of People's Seedling Units (UPR) in Hulu Sungai Tengah District, South Kalimantan Province

Haruan snakehead fish, as one of Indonesia's fisheries germplasm wealth, has an important role as a source of animal protein and buffers the stability of inflation rates in the Kalimantan region. The feasibility factor is expected to make a significant contribution to the development of the local fisheries sector and related government policies at the regional level. The research aims to analyze the feasibility of the local haruan fish hatchery business for recipients of government assistance in the form of revitalizing the People's Hatchery Unit (UPR) in Hulu Sungai Tengah Regency, South Kalimantan Province. Research activities take place in the Mufakat Group, Mahang Baru Village, South Labuan Amas District, Hulu Sungai Tengah Regency - Province South Kalimantan. Sampling was carried out using the proportional sampling method, namely samples were taken deliberately from Haruan snakehead fish cultivators who received grant assistance. The total number of respondents was 1 Cultivator Group. Feasibility of the Haruan snakehead fish hatchery unit for recipients of non-cash government assistance for revitalizing people's hatchery units (UPR) in Hulu Sungai Tengah Regency, South Kalimantan Province Hulu Sungai Tengah, South Kalimantan Province, with different discount rates, the present value (NPV) snakehead fish cultivation business obtained a value of Rp. 189,533,025, which shows that this project can provide financial benefits. The Internal Rate of Return (IRR) value of 56% indicates a fairly high rate of return, exceeding the interest rate generally available on the market. The payback period (PP) is 1.76 years Keywords: Haruan Snakehead Fish, Feasibility, Revitalization, HST

Analysis of Shallot Farming Business in Pringsewu Regency

Shallot farming in Pringsewu Regency, Indonesia, is a profitable business with an average income of IDR 298 million per hectare. However, the productivity is still low, at 15 tons/ha compared to the potential of 20 tons/ha. This research analyzes the cost structure, production, income, and income of shallot farming in Pringsewu Regency. The research results show that the total cost is IDR 115 million per hectare, while the average income is IDR 182 million per hectare. The feasibility analysis shows that shallot farming is profitable with an R/C ratio of 2.6 and a B/C ratio of 1. To improve the performance of shallot cultivation in Pringsewu and Pagelaran Districts, important suggestions involve providing proactive mentoring and advice from the Food Crops Agriculture Service, facilitated by PPL officers. Furthermore, farmers should explore the adoption of advanced shallot farming techniques to increase income. Additionally, it is recommended to extend the duration of shallot cultivation, supported by favorable returns on investment, as indicated by Internal Rate of Return (IRR) values of 97% and 93% for two planting periods in Pagelaran District, exceeding the bank interest rate of 12%. In summary, increasing productivity can further increase the profitability of shallot farming in Pringsewu Regency.

Transforming offshore field developments with Pivotree™: an innovative technology solution for fast, cost effective, and low footprint projects

Pivotree™ represents a technology paradigm shift in offshore oil field development, reducing cost and providing a route to market for the operators of stranded resources. Conventional standalone projects, characterised by substantial upfront capital expenditures with complex equipment and high installation costs, are juxtaposed against the Pivotree™ solution, with a markedly reduced capital outlay that retains all the requisite safety and operational features associated with larger systems. A comparative study of activities, materials, and risks concomitant with different field development concepts are analysed for a range of reservoir characteristics, highlighting the financial advantages of the Pivotree™ technology using Multiple-Criteria Decision Analysis (MCDA). MCDA allows a systematic assessment and comparison of a broad spectrum of qualitative factors including safety, environmental impact, operability, maintainability, time to deploy, water depth, independence, and abandonment burden and development of a set of economic scenarios with the costs of different development concepts compared over the lifecycle phases from Drilling to Abandonment, and the Net Present Value (NPV) and Internal Rate of Return (IRR) calculated against a range of oil prices, and operating expenditures. A case study ‘Concept Select’ activity is performed using MCDA to evaluate the range of development options against the listed set of project and technology attributes. A set of weightings is provided for the purpose of analysis by the author equating to the corporate values and strategy of a fictional energy company. The MCDA analysis demonstrates that the Pivotree™ technology can unlock production from the global store of stranded offshore discovered resources.

Estimating rainfall-runoff parameters for ungauged catchments: a case study in Turkiye

ABSTRACT Determining water yield and flood discharges in catchments is a vital aspect of hydrology. This entails considering precipitation and runoff as key hydrological parameters. Constructing infrastructure like hydroelectric plants and regulators over streams necessitates continuous, accurate flow, and meteorological observations spanning at least 25 years. However, in developing nations, economic factors often impede such observations. This study proposes a method to estimate peak rainfall and flow values for ungauged basins with varying return periods by utilizing from gauged basins and spatial variables. Flood calculations were carried out for the ungauged Rabat River basin. In this study, regional flood frequency analysis was carried out using the flow values of the flow gauging stations neighboring the basin. In addition, maximum flow values were calculated using Moscus and the DSI synthetic method. Two- and three-parameter distributions were used to estimate 50-, 100-, 200- and 500-year flood return values at stations with observation periods ranging from 15 to 64 years. Kolmogorov–Smirnov and Probability Line Correlation coefficient (Chi-square) tests were applied to check the suitability of these distributions and the most appropriate distributions were found. This yielded an estimation for the flow values of the Rabat River, indicating the method's reliability for forecasting runoff-rainfall in the ungauged basin.

Public-private partnerships scheme of pioneer train case study in South Sumatera area

Pioneer trains in Indonesia have been fully funded by the government. The construction needs a lot of funding that would burden the state budget. One of the alternatives is the public-private partnership scheme. This study aims to analyze the most effective unbundling scenario for financing and maintaining the Indralaya-Tanjung Senai train. The life cycle costs and conducting sensitivity analysis according to applicable regulations. The scenarios are based on ticket price increases and government support for the operation and maintenance (O&M) for this pioneer train route, calculated net present value (NPV) and internal rate of return (IRR) value. Scenario 1 assumes that tickets do not receive subsidies; private companies are responsible for O&M costs. Scenario 2 assumes that ticket prices are set by private companies; the government is responsible for procurement and maintenance costs. Scenario 3 assumes that the government provides subsidies of IDR 10,000 per passenger as well as railway infrastructure; private companies bear the cost of procuring railbuses and operational expenses. Based on calculations with Scenario 1 NPV is IDR 0.73 billion; with Scenario 2 is IDR 4.64 billion and with Scenario 3 is IDR (–)1.34 billion. The analysis shows that increasing passenger fares according to price raises and inflation rates, and subsidies from governments for maintenance costs will make this railroad project financially feasible.

Economic evaluation of mineral deposit: A bottom-up approach

Proper economic evaluation of a mineral deposit is critical to effective investment decision-making in a mineral project. However, this often requires detailed mine production scheduling to produce a schedule that reflects the actual cash flow when the project comes on stream. Because of the dexterity required for this task many mine planners and explorationist attempt to use statistical formulas that approximate the mine scheduling and value of the project. The mathematical model developed for production scheduling often produces a constant production rate schedule over an approximate life span of the project. In this paper, we have attempted to apply a bottom-up approach that begins with geometrical modelling and equipment deployment pattern to define the number of equipment required for each sequence of operation based on available workfront in the development of each bench. Then, based on the number of equipment and the production rate at each sequence of operations, a production schedule is developed. This production schedule therefore will reflect annual cash flow since it is based on the sequence of operation. Application of this method on the west pit of Itakpe mine shows a considerable net present value and internal rate of return of the deposit compared with the evaluation made using statistical models. The NPV of the west pit was found to be USD621 million as against USD122.41 million using Nwosu’s formula and USD123.85 million Taylor’s formula. The above value of NPV using the proposed method shows the maximum expected NPV of the mineral project-based technical restrictions. An understanding of this value can guide the mineral property owner in decision-making.

Nonstationarity in Extreme Precipitation Return Values along the U.S. Gulf and Southeastern Coasts

Abstract This study estimates extreme rainfall trends across the Gulf Coast and southeastern coast of the United States while applying methods for extending the temporal record and aggregating across spatial trend variations. Nonstationary generalized extreme value (GEV) models are applied to historical annual daily maximum precipitation data (1890–2019) while using CMIP5 global mean surface temperature (GMST) as the covariate. County composites and multicounty regions are used for local data record extension and pooling. Unlike most previous studies, return periods as long as 100 years are analyzed. The local trend estimates themselves are found to be too noisy to be reliable as estimates of climate-driven trends. However, application of a Gaussian process model to the spatial distribution of observed trends yields overall trend detection at the 95% significance level. The overall historical increase due to nonstationarity across the study region, with associated 95% confidence intervals, is 9% (3%, 15%) for the 2-yr return period and 16% (4%, 26%) for the 100-yr return period. A trend is also detectable in the Gulf Coast subregion, but not in the smaller southeast subregion. Recent weather events and nonstationarity have caused the official return value estimates for parts of North and South Carolina to be much lower than the return values estimated here. Significance Statement Protection of people and infrastructure from flooding relies on accurate estimates of potential extreme rainfall intensity. Some official estimates of extreme rainfall near the Gulf Coast and southeastern coast of the United States are over 20 years old. We show that, across this region, there is a clear trend in daily rainfall so extreme that it only has a 1% chance of happening in any given year (the so-called 100-yr rainfall). This trend means that many existing estimates of extreme rainfall are too low, both now and in the future, so flooding risks based on those estimates would be underestimated as well.

REAKSI PASAR TERHADAP PERISTIWA STOCK SPLIT DI MASA PANDEMI COVID-19

A stock split is a corporate action that results in a change in the nominal value per share and increases the number of outstanding shares in accordance with the split factor. This study aims to test and analyze whether there are differences in abnormal stock returns and trading volume activity between before and after the stock split event during the Covid-19 pandemic for companies on the Indonesia Stock Exchange. This study uses a quantitative approach with the event study method and a window period of 15 days. The research sample was based on a purposive sampling technique, namely 10 companies out of 12 population companies that had stock splits on the Indonesia Stock Exchange. The analysis technique uses the mean difference test technique, namely the paired sample t-test for abnormal returns, and the Wilcoxon signed rank test for trading volume activity. The results showed that there were differences in abnormal stock returns and trading volume activity before and after the stock split. The average value of abnormal stock returns and trading volume activity before the stock split was higher than after the stock split. Research has implications for all parties as input and consideration in making decisions amid uncertain market conditions.

Simulation-based Forecasting for Intraday Power Markets: Modelling Fundamental Drivers for Location, Shape and Scale of the Price Distribution

During the last years, European intraday power markets have gained importance for balancing forecast errors due to the rising volumes of intermittent renewable generation. However, compared to day-ahead markets, the drivers for the intraday price process are still sparsely researched. In this paper, we propose a modelling strategy for the location, shape and scale parameters of the return distribution in intraday markets, based on fundamental variables. We consider wind and solar forecasts and their intraday updates, outages, price information and a novel measure for the shape of the merit-order, derived from spot auction curves as explanatory variables. We validate our modelling by simulating price paths and compare the probabilistic forecasting performance of our model to benchmark models in a forecasting study for the German market. The approach yields significant improvements in the forecasting performance, especially in the tails of the distribution. At the same time, we are able to derive the contribution of the driving variables. We find that, apart from the first lag of the price changes, none of our fundamental variables have explanatory power for the expected value of the intraday returns. This implies weak-form market efficiency as renewable forecast changes and outage information seems to be priced in by the market. We find that the volatility is driven by the merit-order regime, the time to delivery and the closure of cross-border order books. The tail of the distribution is mainly influenced by past price differences and trading activity. Our approach is directly transferable to other continuous intraday markets in Europe.

Valuation and pricing of equity securities: A test of CAPM in a developing market economy

The study is on valuation and pricing of equity securities. A test of CAPM in a developing market economy (2006-2020) The major aim of the study is to investigate the capability and relevance of CAPMt to equity prices in Nigeria stock market from 2006-2020 and show if the model empirical findings are in line with results obtained from the developed markets. The model concerned in the study is Capital asset pricing model (CAPM) by Sharp 1962. from (2006-2020) Using a sample of 62 companies derived from the eleven major sectors of the Nigeria economy and Using panel data analysis and valuation status analysis results showed that, CAPM demonstrated positive and in significant impact on stock return(RI) of the Nigeria stock market. These variables do not play role on explaining the movement in the value of stock return of the selected firms within the period, The result of the relationship between actual stock return (RI) and models calculated return obtained is dominated by under valuations and over valuations with few appropriately valued stocks which are insignificant in nature, again the r2 and coefficient of determination < 1 or even negative in some cases .p value >0.05, and the result obtained in Nigeria is not the same with that of the developed economy. It is therefore recommended that, portfolio managers and other financial analysts should not adopt CAPM, as a tool to examine, explain. predict or assess accurately return of stocks traded in the Nigeria stock market.

Application of Humanity Towards Society in the Era of Globalization

This study aim for know How mark or humanity society in the era of this globalization. This study use Literature Review method or review References with do search a number of results study from relevant journals or in accordance with the problem studied from a number of indexer such as Google Scholar, Basicedu, Garuda, Sinta, and so on . Result of this study show that in the era of globalization this values Pancasila among Indonesian citizens began fade. Especially on value humanity current society this start decreased, resulting in a sense of individualism increase so that no exists Again concern to fellow. Presence globalization of course just bring influence big for a country, fine that influence positive nor negative. Influence positive obtained from the era of globalization this is one of them that is advances in science and technology, where the world is increasingly develop This knowledge knowledge and technology are also increasing growing and growing advanced. So from that is, so that the values Pancasila this no lost in yourself public we need apply return values pancasila this with one way with implement mutual feelings appreciate, respect and love without must differentiate between each other, improve concern to around.

Optimal Portfolio Using Single Index Model (SIM) For Health Sector Stocks

Investment is one of the fund management activities with the aim of obtaining future profits. In addition to profits, investors also need to consider the risks that will be faced by diversifying. Diversification is done by forming an optimal portfolio. This research aims to determine the proportion of stocks in the optimal portfolio and calculate the expected return and risk value of the optimal portfolio. The object used to form the optimal portfolio is health sector stock group for the period January 2020 - December 2022. The method used to form the optimal portfolio is Single Index Model (SIM). The results showed that there were 6 combinations of health sector stock in the optimal portfolio, such as IRRA, PRDA, SAME, SILO, MERK, and HEAL stocks of 8.94%, 9.24%, 9.34%, 11.92%, 27.15%, and 33.41% respectively with expected return of 2.68% and a risk value of 1.85%.

ФОНДООТДАЧА: СУЩНОСТЬ, ФАКТОРЫ ВЛИЯНИЯ, МЕТОДИКА РАСЧЕТА В РАЗНЫХ ОТРАСЛЯХ, КРИТЕРИИ ОЦЕНКИ

The essence of the concept of "return on capital" is revealed, the value of return on capital as an indi-cator of evaluating the effectiveness of using fixed assets of an enterprise is determined, the main factors influencing the return on capital are highlighted. The methodology for calculating the indicator in different industries has been clarified, and the criteria for its assessment have been determined

Cost-Benefit Methodology in Public Investment in the Peruvian Educational Sector of Invierte.Pe. a Practical Case

Objective: The purpose of the research is to show a specific process to perform the cost/benefit analysis in the social evaluation of public investment projects in the education sector, applying the net present value (NPV) and internal rate of return (IRR) profitability indicators, taking into account that the approach of the National System of Multiannual Programming and Investment Management (Invierte.pe) applies a different methodology as the cost/efficiency analysis, where it uses criteria such as the Present Value of Costs (PVC) and the Cost Efficiency Indicator (CEI). Theoretical framework: In order to present our proposal, we used as a theoretical framework, mainly the directives, instructions, procedures, and methodological guides proposed by the Ministry of Economy and Finance of Peru, which can be improved by considering the results of investment in education. Method: The research proposes a technique to evaluate investment projects in the education sector through the cost/benefit methodology instead of the cost/effectiveness methodology. Within the materials and methods, an education sector investment project approved by Invierte.pe was used, and we added cost/benefit analysis to estimate the profitability indicators NPV and IRR to carry out the social evaluation of the project. Results: The results show that the education project has a net present value of S/. 794,874.30 at social prices, and an internal rate of social return of 9.56%. Finishing the research, it can be concluded based on the results obtained that it is possible to incorporate the cost/benefit methodology in the formulation and evaluation of standard, simplified technical sheets and studies at the profile level of public investment projects in the education sector. Conclusions: It can be concluded that it is feasible the social evaluation of investment projects in the educational sector of the Peruvian state, through the cost/benefit methodology in the region and the country, by means of the profitability indicators NPV and IRR, obtaining a higher internal rate of return.

A new approach for the assessment of coastal flooding risk. Application in Rhodes island, Greece

A directional, copula-based, Monte Carlo approach is proposed for the quantitative assessment of a new definition of coastal flooding risk, namely a probability-based index due to extreme combinations of wave conditions and sea levels, which could be a key element for coastal zone planning and management. This approach differs from the standard practice, which focuses on the extreme events and studies either their specific return values or their worst-case scenarios. The adopted approach incorporates mean wave direction as a covariate into the probabilistic representation of sea states, and via the use of a variety of probabilistic and statistical tools, represents a total of five stochastic variables, namely the significant wave height, the peak wave period, the mean wave direction, the storm surge, and tide. Two directional, alternative methods have been developed; a trivariate copula- and a bivariate copula-based method, that seemed to produce quite similar results. Four types of copulas have been examined for their goodness-of-fit, i.e., three Archimedean copulas, namely, the Clayton, the Gumbel, and the Frank copulas, as well as the elliptical Gaussian copula. A comparative analysis of the two methods is performed aiming to point out their pros, as well as their accuracy and complexity issues. The application of the proposed method to the natural beaches of the Rhodes Island in Greece, in combination with a recently developed formula for wave run-up, highlighted the most crucial parameters affecting the coastal flooding risk in the study area.

Economic and Financial Viability of Pig Farming in the Integrated Termination System

Objective: The study aims to compare the economic and financial viability of expanding the pig farming activity carried out in the finishing system, on a rural property in the municipality of Xavantina/SC. Search method: Methodologically, the research is descriptive, carried out through a case study and qualitative analysis. From the collection of data relating to batches from the period 2019 and 2020, a statement of the results of the pig farming activity was prepared. Discounted payback, Internal Rate of Return (IRR) and Net Present Value (NPV) were used for analysis. Main results: Economic results demonstrate the net margin per batch of pigs of up to 64% in the current finishing system. With the increase in investments, the net margin is up to 44% per lot. The results show a financial return time of 10 years, 11 months and 8 days, with an IRR of 10.08% in the current situation. Considering the investments in expanding the new piggery and the revenue and expense projections, the financial return will occur in 18 years, 11 months and 8 days, with the IRR at 10.02%. In general, the results demonstrate the importance of rural accounting as a support instrument in monitoring activities developed to support the economic-financial analysis of investments and the decision-making process.

The Application of Neural Network Models to Explain the Relationship Between Stock Value, Returns Value, and Information on Prices

This study aims to identify features for stock market value predictions based on time series grouping. This research uses various data sets for different activities. We have the balance sheet data set, which includes a series of quarterly balance sheets. Next, there is the ratio data set. The clustering data set consists of a series of daily prices. There are two data sets for testing activities: pilot forecasts and investments with daily data, projections, and investments. To speed up the development and exploration of different methods, testing begins with a subset of the data, with additional shares of witnesses. This research uses ARIMA and artificial neural networks to predict stock prices. Predicted results provide an investment strategy that compares the results obtained with what happens, resulting in generally positive profits. The capacity of artificial neural networks to manage non-linearities in financial data explains this. Second, many experiments demonstrate that not all data can be utilized using predicting techniques. These results indicate that improved estimations do not always result from more significant data. Forecast accuracy and performance on the test set will likely be negatively impacted by noise and competing signals introduced by data from unrelated stocks. Put another way, by including unrelated data, the information about the action supplied by the group of which it is a member is obscured. As such, the forecasts more closely align with the market's average behavior than with the performance of a specific stock.