Investment Value Research Articles

Consensus Analysts Target Price and Stock Price Returns in Nigeria

This study focuses on the effect of an Investment Valuation technique (Consensus Analysts Target Price) on Stock Price Return of listed companies in the Nigerian Exchange between the period of 2011 and 2023. The ex-post facto research design was employed in this research due to the use of historic (secondary) data from the selected fifteen (15) companies across 3 major sectors on the Nigeria Exchange (NGX). Panel autoregressive distribution lag model was the estimation techniques and inference made on 5% significance level. Prior to the data analysis, a number or pre-estimation test were carried out such as co-integration, homogeneity, and cross-sectional dependence in addition to basis correlation and descriptive analysis. Findings from the short run reveals a significant negative coefficient (-0.273) for lagged Stock Price Return (L.STR), indicating a substantial short-term correction effect. Conversely, the lagged Consensus Analyst Target Price (L.CATP) shows a positive coefficient (0.141) without statistical significance, suggesting a modest positive relationship without an immediate impact on Stock Price Return. Transitioning to the long run, the highly significant negative coefficient (-1.273) for long-run Stock Price Return (lr_STR) emphasizes a robust and persistent negative adjustment effect. Over an extended period, Consensus Analyst Target Price (lr_CATP) introduces a marginally significant positive coefficient (0.077), implying a modest positive impact on Stock Price Return. Based on the results, one recommendation concerning Consensus Analyst Target Price (CATP) and Stock Price Return is to exercise caution in relying solely on CATP for short-term decision-making. Investors should be aware that, in the short term, deviations from the lagged return may not be significantly influenced by CATP. Therefore, considering additional factors or indicators alongside CATP could enhance the accuracy of short-term decision-making in understanding stock price movements.

Factors Influencing Private Equity Investments in Asian Countries

An overview of investment activities of the Asian private equity market is presented in this paper. The study began with a close examination of the movements in the Asian private equity market over the last few years and a comparison of Asian and other developed nations' private equity investing practices. The observation gave rise to a hypothesis that Asian and Western economies may not be directly comparable in terms of their influencing factors. As a result, investigating the variables impacting private equity investments in Asian economies has become the primary research question. The private investment activity of five Asian economies—China, Japan, South Korea, Singapore, and India—between 2010 and 2023 was examined in this study. The total private equity investment value across all five Asian economies' sectors was used to gauge the level of investment activity. The study was based on about three major dimensions: the investment environment, economic conditions and research & development. Eight explanatory variables, including GDP, inflation, interest rates, stock market capitalization, research and development expenditure as a percentage of GDP, and the Intellectual Property Rights Index (IPRI), were included in the dataset. The correlation study between each of the eight variables has been performed before more in-depth analysis. The study was conducted using the regression analysis approach. The analysis identified that IPO, GDP and Research & Development (R&D) have a strong and significant impact on private equity investments, being significant drivers in attracting investments. The inflation has shown least influence on private equity investments. The IPRI index, stock market capitalization and liquidation showed no influence on the private equity investments. Lastly the results are subjected to limited data available about the factors. Keywords: Asian economies, Private equity, Investments

ARIMA-BPNN based Stock Price Prediction Model Based on Fusion News Sentiment Analysis

In recent years, the prediction of stocks has mainly focused on improving and combining stock prediction algorithms, or analyzing news sentiment tendencies to simulate subjective investor consciousness. However, both methods have shortcomings in practicality and comprehensiveness. Therefore, based on the use of stock data, the sentiment propensity of vocabulary in the article was processed, and a new algorithm model was obtained by combining the differential integration moving average autoregressive model and backpropagation feedforward neural network model. Finally, sentiment propensity was integrated into the combination model to obtain an algorithm model that integrates sentiment analysis. After optimizing the sentiment vocabulary of news. The algorithm has improved its ability to recognize emotional tendency words, while traditional algorithms have been improved to improve the accuracy of stock prediction, further verifying the relationship curve between emotional tendency and stock prediction fluctuations. The experimental results show that the combined model of sentiment analysis is close to the true value in predicting stock results, with an error of less than 1.5%. The accuracy and stability of the model’s prediction results are significantly better than the uncombined model and traditional prediction models. The new combination model provides better judgment basis for investors through experimental prediction results, creating conditions for investors to avoid stock market risks and improve investment value.

Analysis of the Investment Value of New Energy Vehicle Enterprises Based on the Analysis of Barringer/Ireland Business Model

The purpose of this report is to decide which company between Xpeng or Nio to invest in based on the analysis of Barringer/Ireland Business Model. Firstly, according to the research and data collection, the report briefly introduces the general situation and development of the new energy vehicle market and the background of the two companies Xpeng and Nio. Then, through the reliable and real information of Xpeng and Nio, the report applies all 12 parts of the theory to Xpeng and Nio, and analyzes the advantages and disadvantages of these two companies in these 12 factors. Thirdly, the two companies are compared based on theoretical analysis of 12 factors in Barringer/Ireland Business Model. Finally, the report figures out which company to invest in, and speculates and analyzes the future development trend of this company according to analysis of Barringer/Ireland Business Model. All in all, the whole report is completed based on numbers of reliable and real data, analysis of articles and researches.

Exploring the investment value of retail sales growth: Evidence from the China Retailer Alliance

This study investigates the investment value of retail sales growth using a unique dataset obtained from the China Ants Alliance, a retailer alliance in China. Leveraging this dataset, we construct a weekly retail sales growth rate index (SG) and draw significant conclusions about consumer-oriented firms. The hedge portfolios constructed based on this index earn a 0.206% excess weekly return. The predictability of the returns from the index persists after controlling for various firm characteristics. Sales growth also positively predicts firms’ fundamentals, such as revenue growth and cash flow surprises, highlighting the investment value of retail sales in predicting future cash flows and a firm’s revenue. Overall, we enrich the literature on consumer behavior information and stock pricing. We further expand the exploration of the investment value of nonfinancial information and provide a valuable reference for investors and the capital market.

Comparative Analysis on Matters Affecting the Global Economy A Case Study of E-Commerce Business

Electronic commerce (e-commerce) is generally viewed as the buying and selling of products over the internet, however, any transaction that is concluded exclusively through electronic means can be regarded as e-commerce. E-commerce may have great economic impacts in subsequent times. Internet commerce will transform the physiognomy of business endlessly. Furthermore, it has impacted the information technology (IT), electronic, social, and e-commerce has increased the productivity development globally in the recent times. The effect of e- commerce on developing economies for curtailing in competencies for trading and to enhance productivity in terms of economies with competitors globally. There are several measures to expedite the increase of productivity by reducing costs, enhancing competencies, and curtailing time and distance, e- commerce could emerge as a significant device for growth and increase in all sectors. Frameworks for information security is clearly applied to the features that affect e- commerce that incorporates computer security, data security, and other broader compass of the information security framework. E-commerce security possess its own particular distinctions and is one of the topmost visible security features that affect the consumer through to acquire e- business finance and value investment, globetrotting, and its internet embodiment.

COVID-19 Human Capital Management Response and Firm Value

ABSTRACT We examine whether corporate human capital management responses to the COVID-19 pandemic (COVIDHCM) have implications for firm value. We exploit newly mandated SEC human capital disclosures in 10-K filings to measure COVIDHCM investments. To validate our measure, we first show that our COVIDHCM measure is positively associated with how favorably employees view the firm’s pandemic response. We then examine the association between COVIDHCM investment and firm value. We find favorable COVIDHCM investment valuation effects appear only as financial flexibility increases. Financial flexibility pertains to the firm’s cash balance at the onset of the pandemic and captures resources that can facilitate investment during the pandemic. We also find that as financial flexibility increases, COVIDHCM investment is positively associated with overall employee satisfaction and employee productivity. Overall, the results suggest firm actions to protect employees’ welfare were value enhancing during the global pandemic, but only for firms with sufficient financial flexibility. Data Availability: Data are available from the public sources cited in the text.

Strategi Sumber Daya Manusia (SDM) dalam Pemasaran Jasa Pendidikan

Education is a valuable investment for the future, and marketing educational services is an important aspect in making educational institutions high quality. This research was conducted to determine aspects of human resources in marketing educational services. This research uses qualitative methods and the data collection technique used in this research is library research, namely the research object used by searching for and collecting data or literary information in the form of books, journals, magazines, reports, and the others. The results of this research show that marketing educational services is very important in improving the quality of education. Product, price, place, promotion, people, physical evidence, process are important elements in marketing educational services. Meanwhile, in practice there are several marketing strategies for educational services, namely; market identification, market segmentation, product differentiation, and school services.

IJCM_424A : User experience and attitude of end users towards Laboratory Information System at a tertiary care hospital

Background: Laboratory Information Systems like any other automated systems have been touted for their contribution in recognizing and minimizing diagnostic errors, supplementing the decision-making process and improving diagnostic outcomes Objectives: This study aimed to review LIS end users’ experiences using LIS and their attitude towards LIS, explore factors that affect LIS end users in a laboratory and locate connections between user issues and user variables if any. Methodology: A descriptive study was carried out to assess the personal and professional aspects experienced by LIS end users and to determine the usability of LIS. A purposive sampling methodology was used to interview all the laboratory personnel working at the department of Laboratory Medicine at the selected tertiary hospital. A five-point liker scale was used to find out the LIS end users’ experience. The System Usability Scale to ascertain the factors affecting usability and analyzing the associations between user issues and user variables (nine of them). Fisher’s Exact test was to analyse the responses to assess human factors and relations affecting the usability of LIS. Results: All the seventy respondents had a favourable response to the installation of LIS and viewed it as a valuable investment for the laboratory. Among the nine user variables, seven were found to have P ≤ 0.05 with issues affecting LIS end users in a laboratory setting, namely, gender, age, work experience using LIS, educational qualification, department within laboratory medicine, type of LIS training and job position, suggesting significant association. Conclusion: The LIS end users had a positive attitude towards LIS and acknowledged its role in the smooth functioning of the workflow in the laboratory.

Gambaran Penjualan dan Investasi Obat Generik Apotek “X” Kelurahan Karang Anyar Kota Tarakan Menggunakan Analisis ABC Tahun 2022

Pharmacies have a role in providing health services and as a business that follows the principle of profitability. If drug management is inefficient, it can result in excessive drug stocks and/or running out of stock of several types of drugs. This research aims to find out how big the percentage of drugs is in the number of sales transactions and the investment value in planning drug needs using the ABC analysis method at Pharmacy "X". This research is a retrospective study using quantitative descriptive methods. The object studied is data on the number of sales transactions for generic medicines at Pharmacy "X" for the period January-December 2022. The sample used in this study was 168 items of medicine sold throughout 2022 using a total sampling technique. The results of ABC analysis based on investment value show that group A consists of 34 medicinal items with an investment value of IDR 103,417,500 (69.43%), group B consists of 42 medicinal items with an investment value of IDR 30,276,000 (20 .33%) and group C consists of 92 items of medicine with an investment value of IDR 15,258,300 (10.24%). Group A drug items have the highest sales and investment levels, so it is important to ensure stock availability to reduce the risk of decreasing service quality and pharmacy losses.

Analysis of Apple's Investment Environment and Investment Value

Scientific and technological innovation is the core and driving force of economic development, and the technology companies represented by Apple Inc. have always been the focus of the capital market. This paper takes Apple as the research object, analyzes the external macroeconomic environment in the development process of Apple, and further uses Porter's five forces analysis, PESTEL analysis, stock analysis, SWOT analysis, ESG analysis tools to comprehensively analyze the investment value of Apple.

The Determinants of Success in the Implementation of Information Technology in Moroccan Companies: Exploratory Case Study

The study, which is being conducted in the context of the widespread use of information technology in Moroccan companies, focuses on examining the success factors of IT implementation. This is a crucial step in maximizing the value of information technology investments. The goal is to address concerns regarding the delay in digital transformation and the role of information technology in establishing a sustainable and irreplaceable competitive advantage. The research methodology utilizes a qualitative approach, specifically a single case study with semi-structured interviews for data collection. The theoretical framework incorporates the resource-based view (RBV) and contingency theories. The key findings of the study emphasize the challenges encountered during information technology implementation, especially concerning the complementarity of organizational and human resources with information technology resources. Based on these challenges, the factors contributing to successful information technology implementation are categorized into three groups: pre-implementation phase, alignment of information technology strategy, and collaboration and coordination among all stakeholders involved in the implementation process.

Analisis Kelayakan Ekspansi Warung Makan “Salsabila”

<p><em>This research discusses the potential for expansion of the "Salsabila" as an UMKM actor into a modern cafe during the post-pandemic era. This research uses quantitative and qualitative data collection methods and quantitative descriptive analysis data processing which will be formulated into numbers. The research results show that the expansion shows positive potential based on financial and market aspects. The decline in F&B growth rate after the pandemic is considered not to affect the potential of the F&B industry. This is indicated by the annual increase in the real income of the creative industry in 2017-2021. Apart from that, the payback period, IRR and NPV of this expansion show a positive value or can be said to be feasible in terms of investment value analysis.</em></p>

Overview of Sales and Investment in Drugs Branded by Pharmacy "X" in Kampung Satu District, Tarakan City Using ABC Analysis for the 2022 Period

Pharmacies as facilities that are authorized to manage the inventory of pharmaceutical supplies need to anticipate inventory problems, both over stock and out stock. Pareto ABC analysis is one solution to overcome planning and procurement problems which tend to be ineffective and inefficient. This research aims to determine the sales and investment value of branded drugs at one of the private pharmacies in Tarakan City. This research is a retrospective study using the Pareto ABC analysis method on branded drug sales data in 2022. Based on sales data, 761 types of branded drugs were analyzed. The data is then grouped based on sales value. As for the results obtained, group A consisted of 189 types of drugs, or the equivalent of 24.84% of the total types of drugs, with a sales value of 17,986 items and an investment value of IDR. 209,828,250. Meanwhile, group B consists of 205 types of drugs, or the equivalent of 26.94% of the total types of drugs, with a sales value of 5,155 items and an investment value of IDR. 60,177,500. Meanwhile, for group C there are 367 types of drugs, or 48.23% of all types of drugs, with a sales value of 2,573 items and a total investment value of IDR. 30,107,100. This indicates that inventory monitoring and management can be adjusted to the characteristics and investment size of each drug category.

Financial sustainability of circular innovations in SMEs. A case study from the fashion industry in Italy

Circular actions cannot be considered sustainable if their financial benefits are not demonstrated. While the environmental benefits of the circular economy have been widely studied, sustainable development from a financial point of view has been much less studied. In this paper we assess the financial benefits of circular innovations applied in the fashion industry that have been previously assessed as sustainable using the Life Cycle Assessment. The focus is on two innovative processes such as salt recovery and tannin baths reuse that reuse water, chemicals and raw materials in an Italian small company operating in the tanning industry. A cost benefit analysis was carried to evaluate the net contribution of these actions to the operating margin. Then we model a forward-looking cash flow projection in order to determine the fundamental value of circular investments. Through these practices, the company achieved an increase in operating profitability above 30% and the 10-year value of the salt recovery is 159,061.40 euros, while the reused tanning water equals just over one million euros. The results show unexpected and strong financial benefits that can leverage similar initiatives that would advance resource equity and finally promote a real and convenient industrial dedication to environmental guardianship.

Adaptive Elevation System for Flood Resilient Smart Bridge

A smart bridge that can automatically increase its height when flooding occurs. The bridge will use a soil moisture sensor to detect the level of water on the ground. When the water level reaches a certain point, the bridge will activate a motor that will raise the bridge deck. This will allow vehicles to continue to use the bridge even during flooding. This project has the potential to make bridges safer and more resilient to flooding. The smart bridge can automatically increase its height when flooding occurs, which will allow vehicles to continue to use the bridge even during flooding. This will reduce the number of bridges flooding events, and it will help to keep people and goods moving during times of emergency.During flooding would be a valuable investment for communities that are vulnerable to flooding. It would help to reduce the disruption caused by flooding and keep people and goods moving during even the most severe weather events.

The market value of cash holdings from related‐party sales: The role of source of cash flows

AbstractThis paper finds that investors evaluate cash holdings differently based on the source of cash flows. Using cash flows from related‐party sales as a proxy for diverse sources, we find that shareholders discount the value of cash holdings for firms with higher cash flows from related‐party sales. We find that firms use related‐party sales cash flows differently; cash flows from related‐party sales are more likely to be retained as internal cash reserves or distributed as dividends, rather than utilised for necessary investments. We further document a negative valuation of investments for firms with more related‐party sales.

Optimum investment strategy for hydrogen-based steelmaking project coupled with multiple uncertainties

The large-scale application of hydrogen steelmaking technology is expected to substantially accelerate the decarbonization process of the iron and steel industry. However, hydrogen steelmaking projects are still in the experimental or demonstration stage, and scientific investment decision-making methods are urgently needed to support the large-scale development of the technology. When assessing the investment value, existing studies usually only consider the intrinsic project value under a specific pathway, while ignoring the option value under realistic multiple uncertainties in terms of technology, market, and policy, leading to an underestimation of the investment value. To address this issue, this study constructs a real options model to explore the optimal investment timing and revenue of the hydrogen steelmaking project, by taking into account multi-dimensional uncertainties stemming from price fluctuations in the steel market, the development of the carbon market, and technological advances. Additionally, the impacts of various subsidy policies on the investment strategy are also investigated. Least Squares Monte Carlo method is applied to overcome computational challenges posed by dynamic programming under multi-dimensional uncertainties. The results show that: (i) Investment is not recommended based on current crude steel price and hydrogen price. (ii) When the annual reduction rate of hydrogen price reaches 5%, the optimal investment timing would advance to 2036. (iii) On this basis, with the introduction of a 20% green hydrogen subsidy policy, the optimal investment timing would be further brought forward to 2033. The implementation of tax incentives would significantly increase the investment value. The investment value would surge from 170 million CNY to 262 million CNY as the tax rate decreases from 20% to zero. The findings could provide reasonable suggestions for investment decisions under realistic volatile environments, as well as scientific references for policy design, thus facilitating the large-scale and high-level development of hydrogen-based steelmaking technology.

A self-disclosure ESG rating method based on the fuzzy set and reward mechanism of disclosure

The environmental, social, and governance (ESG) rating method is a powerful tool that can help investors to judge the investment value of companies based on the information disclosure. However, mainstream ESG rating methods ignore the distinction between companies with incomplete information disclosure and companies without information disclosure, which decreases the initiative and enthusiasm of companies to disclose information. In this study, a self-disclosure ESG (SDESG) rating method is proposed to evaluate companies’ ESG performance capabilities. First, based on the fuzzy set, fuzzy data is defined and applied to the SDESG rating method. Second, analogous to the academic reward system of a university, a reward mechanism of disclosure is used in the SDESG rating method. Finally, the effectiveness and reliability of the SDESG rating method are demonstrated through Refinitiv’s case. The results show that the SDESG rating method can distinguish companies with incomplete information disclosure from companies without information disclosure and allow companies that proactively disclose information to obtain better ESG scores under each industry. The implications of the study would increase companies’ enthusiasm to disclose information and maintain transparency within a company.

Environmental and economic multi-objective real options analysis: Electrification choices for field development investment planning

Hydrocarbons combustion is one of the primary sources of greenhouse gas emissions, causing climate change. As large volumes of gas are burned to power the energy-consuming oil and gas production on offshore platforms, the Norwegian petroleum industry contributes significantly to the country’s emissions, making it a target for environmental regulations. Hence, Norwegian petroleum companies are facing the challenge of finding solutions to comply with increasing environmental requirements while being economically feasible. Offshore platforms electrification helps to reduce carbon emissions, but relevant investment decisions are complicated by uncertainty related to market fluctuations and regulations. In this study, we analyze how considering environmental and economic objectives simultaneously affects optimal investment strategies under uncertainty. We develop a novel methodology for determining the project value and the best investment policy for field development, considering several objectives and uncertain factors. By introducing multi-objective optimization into a real options investment valuation model, economic and environmental objectives are combined using the weighted sum method. The optimization model allows to determine trade-offs between the objectives of the project along with a flexible investment policy. Such optimal solutions result in a significant decrease in carbon emissions at only a marginal reduction in economic value.