Safe Investment Research Articles

Techno-economic evaluation of different agri-voltaic designs for the hot arid ecosystem India

The rising trend of solar PV generation from ground based installations has led to competition for land between agriculture and PV generation. The solution to this challenge lies in the agri-voltaic system (AVS). The AVS systems allows agricultural activities on land while provides opportunity for PV generation and thus returns additional income from land. Therefore, the Governments of many countries e.g. Japan, France, USA, South Korea, and China have already introduced policies for installation of AVS on agricultural land. Following this trend, policy to install AVS in farmers field has also been launched in India under the national level scheme called KUSUM (Kisan Urja Suraksha evam Utthan Mahaabhiyan) targeting for energy security and upliftment campaign for farmers. Under the scheme, subsidy is gurranted for installation of PV power plants in farmers field with a capacity between 0.5 and 2 MWp and on-grid net metering connection of the PV power plant. After announcement of the scheme, there has been increasing interests for installation of AVS by farmers, however, limited knowledge on techno-economic performance of the system, field scale installations of it has been hindered. In the present study, techno-economic analysis of different designs of AVS systems (105 kWp) established at ICAR-Central Arid Zone Research Institute has been evaluated with several combinations of rainfed and irrigated crops. Field performance of the AVS system of 105 kWp has been used to extrapolate cost and returns for 520 kWp system, which lies in the range of KUSUM target. Five AVS designs were considered in the study: extrapolated into 520 kWp AVS and compared theoretically with the price and returns of a photo-voltaic ground-mounted (PV-GM) plant the same capacity. Among five designs of PV arrays in the AVS, the one-row full density photovoltaic array with irrigated brinjal recorded the highest combined net returns of PV + crop components followed by rainfed snap melon. Based on the highest returns per hectare basis, the economic analysis of AVS design for rainfed and irrigated crops is compared to PV-GM. The higher values of life cycle benefit (LCB) could lead to higher net present worth (NPW) of AVS over PV-GM. The higher values of internal rate of return (IRR) in AVS lead to quicker repayment of investment cost as indicated by the pay-back period (PBP), which is shorter by 0.5 and 1.14 years in AVS one row PV array in rainfed and irrigated as compared to PV-GM (8.61 years). Moreover, the one row PV array with irrigated had the lowest Levelized cost of electricity generation (LCOE) (INR 3.17 kWh−1), which is much lower than the prevailing electricity tariff (INR 5.0 kWh−1). Hence, it is inferred that crop production can be very economical for an AVS. AVS technology shows flexibility up to 6% escalation in cost with no escalation in returns, as is indicated by sensitivity analysis. One row full density with irrigated is found the best system based on sensitivity analysis and economic feasibility. The economic analysis of AVS designs in this study is similar to the cost of other PV systems worldwide. Therefore, all PV systems analyzed represent a relatively safe investment.

Perlindungan Hukum Bagi Investor Terkait Pembubaran Badan Hukum Reksa Dana

Mutual funds are investment instruments regulated in regulation number 23/POJK/04/2016 concerning mutual funds, as a guide for investment managers, protecting the rights of investors, investors are not careful in choosing mutual fund products and determining the right and safe investment manager so that legal protection is needed for Mutual Fund Investors. The purposes of this study are to analyze the legal consequences for investors related to the dissolution of a mutual fund legal entity and legal protection for mutual fund investors related to the dissolution of a mutual fund legal entity. The method used is normative legal research with a statutory approach. The technique of collecting legal materials is done through recording and documentation studies. Primary and secondary sources of legal materials are used as sources of legal materials in this study. Then, the legal materials and data are managed using interpretation analysis. The results of the study show that the legal consequences for investors related to the dissolution of the mutual fund managing legal entity are regulated in article 50 of the OJK Regulation if the mutual fund product is dissolved the investor cannot resell after the dissolution of the mutual fund product, protection for mutual fund investors is related to the dissolution of the mutual fund managing legal entity, if there is a loss to the mutual fund product caused by the investment manager, the investment manager must be responsible for the loss due to his actions

Application of Project Financing Mechanism for Housing Construction for the Purposes of Improving the Quality of Life in Russian Regions

Housing conditions and the possibility to improve them are one of the main indicators of the standard of living of the country’s population. State methods of regulation in this sphere must contribute to minimize the risks of citizens and ensure their safe investment in the purchase of housing under construction. For these purposes the mechanism of project financing — the system of financing the construction of apartment buildings through escrow accounts was developed and introduced.The subject of the article is an analysis of the introduction of escrow accounts in relation to Russian regions. The statistics presented by the financial development institution in the housing sector Dom.rf allows to detect a positive dynamics of citizens’ trust in development companies, which finally is reflected in a significant improvement of the quality of life of Russians. Thus, with the growth of citizens’ trust in contractors — developers of apartment buildings, their interest in buying better quality housing grows. Besides, the mechanisms of project financing weed out unfair builders, leaving only reliable developers on the market, which raises the qualitative characteristics of new projects and gives extra stability to the market.

Is Gold as an Alternative Investment a Good Solution During Pandemic?

The aim of the article: The crisis, both in the economic and financial markets, can lead to a sudden downturn and a loss of savings. For this reason, during a crisis, safe investments are essential to reduce risks and avoid losses. This year’s coronavirus pandemic has caused a lot of confusion in the financial and investment world as well.The pandemic led to turbulence in the financial market and made investors look for the so-called safe havens. In the literature, these havens often include alternative investments with a high demand for gold. This article aims to check the validity of using gold as an investment during a pandemic.
 Methodology: In the paper, in order to achieve the formulated aim, the following stages were carried out: critical analysis of the literature regarding the factors influencing investment decisions and the characteristics alternatives instruments. The last stage was based on statistical analysis using the Pearson correlation method. Gold prices were compared with quotations of two price indexes: WIG20 and S&P500.
 Results of the research: The conducted analysis shows that gold as an alternative investment is a good hedge in times of crisis, therefore, it is also the case during ongoing pandemic. Alternative assets fulfill a hedging function, minimizing the risk of losses. Moreover, thanks to a negative correlation with the market, they give a possibility to increase investors’ capital in times of crisis.

Data-driven remote governance of sparsely populated areas: measurement and commensuration of wildcat gold mining in French Guiana

The increase in the price of gold, due to a shift to safe investments during the global economic crisis, has led to a rapid expansion of gold production. Alongside legal gold mines, wildcat gold mining has developed in French Guiana since the early 2000s. This phenomenon, with its social, environmental and economic consequences, is at the heart of the environmental governance of this territory. However, its difficult quantification is the subject of multiple controversies. Environmental governance is increasingly dependent on metrological regimes aimed at quantifying political action in order to objectify it. This article examines the role of metrology in implementing environmental policies in sparsely populated regions via the example of wildcat gold mining in French Guiana. Based on the study of two observatories, one managed by public authorities, the other by an NGO, we deconstruct their maps and counter-maps of wildcat gold mining. To do so, we make a distinction between measurement, commensuration and its diffusion. This focus on “measurement-commensuration-diffusion” allows us to identify three key phases in the production of nature statistics. We argue that the critical analysis of metrological processes through this three-step framework reveals methodological controversies that reflect different and even divergent political visions. The article also shows that metrological systems for environmental protection are the focus of targeted political disputes. It reports on the current disagreements—not only between the State and NGOs but also within the State itself—on the proposed solutions for fighting the impacts of wildcat gold mining in French Guiana and the broader issues of data production in Amazonia.

Are precious metals and equities immune to monetary and fiscal policy uncertainties?

We examine spillovers among policy uncertainties (Monetary and Fiscal), precious metals, and equity markets to investigate whether precious metals and equities are immune to monetary and fiscal policy uncertainties? The monthly data of monetary and fiscal policy uncertainties, gold, silver, and S&P-500 prices from January 1987 to November 2020 are used. The empirical results reveal that the overall spillovers among the system variables are weak. Further, the cross-spillovers between precious metals and policy uncertainties are found to be lower than the cross-spillovers between equity and policy uncertainties. The decomposition of overall spillovers into various frequencies indicate that shorter followed by longer and medium time-horizons drive overall spillovers. The frequency-based results reveal that cross-spillovers between policy uncertainties and equity are mostly driven by shorter horizons. Whereas, the cross-spillovers between policy uncertainties and precious metals are driven by longer horizons. Thus, it appears that precious metals are relatively more immune to the shocks from policy uncertainties than equity markets, thereby suggesting safe investment opportunities in precious metals during economic policy uncertainties. The results are helpful for portfolio managers, institutional investors, and policymakers for the strategic allocation of their funds during monetary and fiscal policy uncertainties.

Stocks for the long run? Evidence from a broad sample of developed markets

We characterize the distribution of long-term equity returns based on the historical record of stock market performance in a broad cross section of 39 developed countries over the period from 1841 to 2019. Our comprehensive sample mitigates concerns over survivor and easy data biases that plague other work in this area. A bootstrap simulation analysis implies substantial uncertainty about long-horizon stock market outcomes, and we estimate a 12% chance that a diversified investor with a 30-year investment horizon will lose relative to inflation. The results contradict the conventional advice that stocks are safe investments over long holding periods.

CRIMINAL VICTIMIZATION ON LARGE-SCALE INVESTMENT SCAM IN INDONESIA

Mass scale investment fraud (Ponzi) schemes result in protracted suffering for the victims. In this article the author investigates this crime from a juridical normative, case, and conceptual approach. From the very start potential victims may fall to promises of lucrative and safe investment schemes. In the eyes of the more prudent, it would or should be obvious that the collaborative business offers as presented contains logical flaws, running against common sense and is at the outset illegal. Notwithstanding, victims seems to fall easily into this trap, lured by the promise of getting easy, quick, and huge investment returns. In the end, even when this fraudulent investment scheme unravels, the government of law enforcement seems to be unable to act decisively and offer a satisfactory solution. Slow and ineffective government response in the end exacerbate economic loss and victims suffering.

Is Gold a Hedge and Safe Haven during Political Uncertainties?

Technological advancements not only bolstered almost all activities, but also accelerated the spread of information in blinks. Thus, announcements about market volatilities along with subpar financial instruments’ performance have led investors to search for alternative assets to cope with amplified uncertainties. Investors in politically unstable economies, like Pakistan, are more prone to the risks of uncertainties so require some safe investments. Previously gold has been investigated as a hedge and safe haven during various economic and market conditions but literature lacks investigation of gold during political uncertainties. So by investigating the role of gold as a hedge and safe haven during political uncertainties against sectors of Pakistan Stock Exchange (PSX), the current study not only contributes to literature, but also contributes to the knowledge of Pakistani investors and asset managers that whether they should consider gold as a diversifier or not. The study incorporates daily gold prices (gold bullion Pkr. per Tola), daily stock prices of PSX sectors and political events of Pakistan for a time span of 2009 to 2019. Appling EGARCH with quantile dummies and event dummies, findings indicate that gold acts as a hedge and safe haven against the stock market and most of its sectors in normal as well as politically uncertain situations. Thus, Pakistani investors must consider gold in asset allocation strategies for having an optimal portfolio that can cope with the risk of acute market conditions and political uncertainties. Finings of current study facilitate Pakistani investors, investment advisors and asset managers to make healthy investment decisions and enjoying the benefits of diversification through inclusion of gold in their portfolios.

Analysis of the Return on Investment in Solar Collectors on the Example of a Household: The Case of Poland

Background: The growing consumption is what drives the development of unsustainable energy and material-intensive production technologies that emit large quantities of pollutants into the atmosphere, water, and land. Obtaining green energy allows reduction of the interference with the environment and, consequently, fits into a sustainable energy development strategy. In order to achieve the emission targets set by the EU for Poland, it is necessary to prioritize the development of renewable energy sources (RES) technologies within the energy sector.Methods: The purpose of the study was to present the results of the research relating to the return on investment of solar collectors for single-family houses in Poland. The research was presented on the basis of the legal conditions applicable to micro installations in the light of the amendment of the RES Act, and the impact of these amendments on the aspects of such investment was determined.Results: On the basis of the constructed economic model used to assess the return on investment of increasing the area of solar collectors, it has been shown that an operating installation will bring measurable economic benefits in the form of reduction in the amount of energy purchased annually in the amount of 6,756 kWh and environmental benefits in the form of reduction of carbon dioxide emissions to the atmosphere 2.4–3.6 Mg per year. An installation subsidized under the “My Electricity” program can reach an NPV of EUR 6,000 over 20 years at a discount rate r = 0 and assuming that the electricity is EUR 0.15/kWh. If the price rises to 0.2 EUR/kWh, the NPV will be 10,000 EUR. For the analyzed installation, the investment consisting in increasing the collector area in accordance with NPV is economically effective for the absorber area in the range of 5.6–7.6 m2 and reaches the maximum value for the absorber area of 6.6 m2, while the absorber area above 7 m2 contributes to reduce the value of the economic return on investment. The obtained results have been generalized, which allows to use them in the process of selecting the size of collector area for similar installations.Conclusion: The return on investment analysis carried out in respect of a detached house allowed to demonstrate that this project is fully justified. Furthermore, pursuant to the Renewable Energy Sources Act in force in Poland, treating a small entrepreneur as a prosumer who may generally take advantage of favorable conditions for discounting the produced energy leads to very favorable possibilities of settling electricity. Considering an entrepreneur as a prosumer who may use one-off depreciation of a solar collectors installation as a fixed asset and request for VAT refund is what makes such an investment very attractive in financial terms and makes it difficult to find a safe investment alternative characterized by such a high rate of return.

COVID-19 pandemic waves and global financial markets: Evidence from wavelet coherence analysis

This paper investigates the connectedness between the COVID-19 outbreak and major financial markets within a time-frequency framework. Wavelet coherency analysis unveils perceptual differences between the short-term and longer-term markets’ reactions. In the short-run, we find strong co-movements during the first and second waves of the pandemic. During the first wave, longer-term investors were driven by the belief of future pandemic demise. They make use of time diversification that results in positive returns. The US being the new coronavirus epicenter, we also find that the US COVID-19 fear spills over into the international markets. Gold, SSE, and cryptocurrencies seem safer investments.

Managerial conservatism and corporate policies

This paper investigates how conservative managers make corporate decisions. Motivated by psychology research, we use handwritten signatures (i.e., emotionally restraint disclosure styles) as a proxy for CEO conservatism. We find that firms with conservative CEOs engage more with safer investments (capital expenditures), engage less with risky policies (Research & Development expenses and debt financing), hold more cash, are less likely to pay cash dividends, and more likely to use stock repurchase schemes. We use the same proxy for CFO conservatism. We find that CFO conservatism is a better determinant than CEO conservatism for cash holding and financing policies, but the reverse is true for investment policies. Conservative CFOs prefer long-term debt to short-term debt.

Detailed feasibility study of the pre-cast reinforced concrete project and its importance in the construction of Iraq


 Purpose: Providing practical knowledge of the requirements of a detailed feasibility study for selecting the investment project.
 Findings: Directing the private sector towards investing in productive projects - the pre-cast reinforced concrete project - as it achieves a financial return as well as providing Providing foreign currencies by reducing imports and exploiting available natural resources
 Practical implications: The importance of a detailed feasibility study to determining whether the project can be implemented or not.
 The precast concrete method is one of the best modern construction methods (high quality, low cost and fast to implement).
 Social implications: Rapid treatment of destroyed infrastructure, consequently restoring stability to liberated areas, and community reconstruction.
 Providing additional job opportunities that are sustainable, which contributes to reducing unemployment. And Reducing environmental pollutants.
 Originality/value: The research has the value of originality, as it deals with the details of an industrial project in several aspects (technical, legal, environmental and economic impacts).
 
 
 
 
 
 
 Abstract
 The feasibility study for the investor of the project is considered as the guide that illuminates a path towards safe investment, as it cares about the investment opportunity and reaching the final decision to accept the opportunity and convert it from just an idea to a project or reject it.
 As a result of the increasing need in Iraq to complete the construction work of the service sector (health, education and housing) in addition to reconstructing the provinces that were exposed to military operations, it was necessary to find alternatives that are characterized by low costs and fast delivery, also to finding solutions to the problem of government's inability to finance investment projects. Therefore, it was suggested that the private sector invests in a Pre-cast project to solve this problem.
 The project site chosen in Anbar Governorate / Fallujah district because the site has several advantages, the most important one is the availability of raw materials, Also the roads connecting the province to the nearby governorates. The total area of ​​the project is (23,200)m2 and consists of a line for production roofs with a capacity of 650 m 3/ day and a line for production walls with a capacity of 1000 m 3/ day. The expected duration of completing the project is one year and the productive life of the project is ten years. On the basis of the expected demand, the expenses and revenues were estimated and analyzed to reach an evaluation of the project's economic feasibility, where the expected internal rate of return for the project (IRR) (38%) and the recovery period is two years and 4 months.

Determination of the legal framework for localization science and technology valleys and technology incubators in nuclear activitiesys and technology incubators in nuclear activities

The object of research in science and technology valleys and technology incubators, which for governments are the best investment of the scientific energies of scientists and innovators. As they are a link between research institutions and the industrial and service sectors, and as they transfer ideas and research results to different markets. This research aims to highlight the importance of Localization science and technology valleys and technological incubators related to nuclear activities, as they are one of the important tributaries to support the owners of the ideas of ambitious nuclear projects. The research also aims to shed light on the problems and obstacles that hinder the achievement of the desired goals of nuclear activities, such as: – the lack of information in the fields related to it; – the scarcity of expertise needed to implement it; – the lack of funding; – the absence of investors in this highly specific «nuclear» sector. The research presents the extent of the possibility of Localization those nuclear activities in Egypt through establishment valleys and incubators so that through this Localization there is an integrated environment of services and support that will ensure their development, raise their growth rates, and increase their efficiency. It is will lead to an increase in the chances of their success and sustainability, especially since Nuclear technology is used in many fields of industry, medicine, and agriculture. The research highlight the provisions of Egyptian Law regarding science, technology, and innovation incentives, as well as Egyptian Law establishing the Innovators Care Fund, to determine the possibility of establishing these valleys and incubators through the provisions of Egyptian legislation. Obtained results will have reached a great impact in encouraging investors and financiers to enter into technological partnerships with nuclear agencies in Egypt for the sake of safe investment in the elements associated with nuclear materials.

Does Socially Responsible Investing Pay in Developing Countries? A Comparative Study Across Select Developed and Developing Markets

Socially responsible investing (SRI) is the catalyst in aligning financial growth with sustainable development. The current study is an attempt to investigate the viability of responsible investment across major developing and developed countries of the world. The authors evaluate and compare the performance of socially responsible indices, against their general and conventional counterparts, in select developing and developed countries through market conditions of bull and bear over a 12-year window. Descriptive statistics and risk-adjusted-performance evaluation methods of performance evaluation reveal socially responsible investing to be non-penalizing in developing countries. Premium rewards earned by SRI help the responsibility indices in emerging countries secure topmost ranks, using Fama’s decomposition model. While no significance in difference of performance is found among the indices in overall period, the study finds that the SRI strategy in emerging economies can provide investors with a safe investment vehicle during adversity. Thus, SRI can provide diversification benefit to the international investor seeking country effect, social impact as well as financial reward through responsible investing. The study on SRI index evaluation implies useful insights for achieving global sustainability goals through the use of financial tools to every market participant, especially in the era of globalization.

Requirements for engineering protection of structures and territories for the safe investment project implementation

The article is devoted to the problems of engineering protection of buildings, structures and territories, when organizing territory, formalising principles (conditions), in accordance with which management and construction solutions for engineering protection arrangement are admitted at the planning and design stages. An integrated approach to the engineering protection arrangement is formulated on the basis of these principles (conditions). The approach requires preparation of an engineering protection project, including general layouts, detailed and specified plans, to develop various project solutions, optimize the design process, assess the prevented damage, justify the investment and estimate the consolidated approximate cost.

Forecast and trend analysis of gold prices in India using auto regressive integrated moving average model

Autoregressive Integrated Moving Average (ARIMA) is one of the powerful statistical method to forecast the timeseries data. Forecasting plays a key role in estimating the future prices. Keeping in view that we have selected the prices of Gold in India from 1964 to 2019 through different secondary sources. Many factors are responsible for rise of gold price in India such as traditional demand, no liability on the investors, inflation proof, low interest rate on most of the saving schemes, safe investment tool. In the present study we mainly focused on estimating the prices of Gold from the year 2020 to 2029, observed the sudden increase of gold price in 2020 due to various reasons and its impact on forecasting prices of gold using ARIMA model. Identifying the suitable ARIMA model (0,2,3) by conducting the analysis of Autocorrelation function (ACF) and Partial autocorrelation function (PACF) to the selected differenced series and present the forecasting prices of gold. The selected secondary source data exhibits the positive trends for the quantitative analysis.

Forecast and trend analysis of gold prices in India using auto regressive integrated moving average model

Autoregressive Integrated Moving Average (ARIMA) is one of the powerful statistical method to forecast the timeseries data. Forecasting plays a key role in estimating the future prices. Keeping in view that we have selected the prices of Gold in India from 1964 to 2019 through different secondary sources. Many factors are responsible for rise of gold price in India such as traditional demand, no liability on the investors, inflation proof, low interest rate on most of the saving schemes, safe investment tool. In the present study we mainly focused on estimating the prices of Gold from the year 2020 to 2029, observed the sudden increase of gold price in 2020 due to various reasons and its impact on forecasting prices of gold using ARIMA model. Identifying the suitable ARIMA model (0,2,3) by conducting the analysis of Autocorrelation function (ACF) and Partial autocorrelation function (PACF) to the selected differenced series and present the forecasting prices of gold. The selected secondary source data exhibits the positive trends for the quantitative analysis.

COVID -19 and Indian Financial Markets: A Review

COVID-19 is aptly stated as a Black Swan event that has stifled the global economy. As coronavirus wreaked havoc, Gross Domestic Product (GDP) contracted globally, unemployment rate soared high, and economic recovery still seems a far-fetched dream. Most importantly, the pandemic has set up turbulence in the global financial markets and resulted in heightened risk elements (market risk, credit risk, bank runs etc.) across the globe. Such uncertainty and volatility has not been witnessed since the Global Financial Crisis of 2008. The spread of COVID-19 has largely eroded investors’ confidence as the stock markets neared lifetimes lows, bad loans spiked and investment values degraded. Due to this, many turned their backs on the risk-reward trade off and carted their money towards traditionally safer investments like gold. While the banking sector remains particularly vulnerable, central banks have provided extensive loan moratoriums and interest waivers. Overall, COVID-19 resulted in a short term negative impact on the financial markets in India, though it is making a way towards V-shaped recovery. In this context, the present paper attempts to identify and evaluate the impact of the pandemic on the financial markets in India. Relying on rich literature and live illustrations, the influence of COVID-19 is studied on the stock markets, banking and financial institutions, private equities, and debt funds. The paper covers several recommendations so as to bring stability in the financial markets. The suggestions include, but are not limited to, methods to regularly monitor results, establishing a robust mechanism for risk management, strategies to reduce Non-Performing Assets, continuous assessment of stress and crisis readiness of the financial institutions etc. The paper also emphasizes on enhancing the role of technology (Artificial Intelligence and Virtual/Augmented Reality) in the financial services sector to optimize the outcomes and set the path towards recovery.

Does volatility traverse between emerging and frontier stock markets of Asia?

Given Asian market recognition at the forefront of the investment domain, the research examines volatility spillover and asymmetric transmission between emerging and frontier stock markets of Asia. Stock returns of two frontier and nine emerging markets, during the data period spanning from August 2000 to March 2020, were analyzed using multivariate asymmetric GARCH-BEKK model around the global financial crisis (GFC). The study results suggest that the structure of cross-markets shocks and volatility spillover between emerging markets are higher during post-GFC. Therefore, this diminishes the possibility of portfolio diversification and investment opportunities to the investors in most of the Asian emerging markets. In the case of Asian frontier markets, most of the volatility generates due to its past shocks and volatility traverse from Asian emerging markets are considerably less. Hence, asset allocations prospects exist in the Asian frontier stock markets. Nevertheless, safe investment strategies need to design to reap diversification benefits from these markets, particularly during financial turmoil and market distress in the future.