Hasil untuk "Capital. Capital investments"

T. R. Crook, S. Todd, James G. Combs et al.

N. Hatch, Jeffrey H. Dyer

Denise Dipasquale, E. Glaeser, E. Glaeser et al.

Gary S. Becker

Timothy Bates

John H. Cochrane

O. Schutter

D. A. Donets

Building innovation economy represents strategic priority for Ukraine’s European integration amidst wartime challenges. Ukraine’s startup ecosystem demonstrates potential valued at €28 billion, ranking among Central-Eastern Europe’s top three, yet regional disparities constrain development. Russian invasion created challenges but revealed exceptional technological resilience. This study analyzes current state and regional characteristics of Ukraine’s startup ecosystem, identifies disparities and competitive advantages, develops recommendations for optimization within European innovation space integration framework. Research employs mixed-methods approach integrating quantitative analysis with qualitative assessment through SWOT analysis, comparative evaluation, expert assessments using nine parameters: human capital, education, financing, infrastructure, mentorship, culture, regulation, markets, networks. Data sources include international reports (StartupBlink, Dealroom, Civitta), investment analytics, statistics covering 2020-2024. Findings reveal regional concentration with Kyiv hosting 40% of startups. Investment recovery: 2024 investments reached $462 million (120% growth). Sectoral distribution: IT/software (35%), artificial intelligence (15%), fintech (12%). Defense technology emerges with 820+ projects attracting $59 million in 2024. Study provides first systematic regional analysis during wartime transformation, introducing four-component optimization model for European integration. Scientific novelty: crisis-resilient assessment methodology for innovation continuity under extreme conditions. Findings offer strategic roadmap for institutions and stakeholders to enhance competitiveness and accelerate European integration providing framework for post-war reconstruction.

Cindy Mansour, Nicholas Márquez-Grant, María Benito Sánchez

Abstract Background Forensic anthropology has evolved significantly, from its foundations in the nineteenth century to its formal establishment in the twentieth century and in particular with modern advancements from the 1970s onward. Its role in human rights investigations during the 1980s in Latin America and the 1990s in the Balkans, exemplifies its global impact. However, the practice and application of forensic anthropology in the Middle East and North Africa (MENA) region remain underexplored. This study assesses the current status of forensic anthropology in this region through a brief literature review and online interviews with academics and practitioners in forensic anthropology or closely related disciplines. The interviews addressed the medico-legal system structure, forensic science capabilities, training efforts, practitioner availability, case types (medico-legal and humanitarian), and resources like radiological imaging. Results The study revealed that forensic anthropology is largely underutilized in the MENA region’s medico-legal death investigation systems. Factors such as limited human capital, lack of discipline awareness, varying legal and procedural systems, and insufficient academic infrastructure hinder its integration. Challenges include political instability, safety concerns for practitioners, and inadequate resources. The study highlights ongoing efforts by practitioners to improve the field through theoretical and practical training, capacity building, and resource development. Conclusion The findings underscore the need for strategic investments to strengthen forensic anthropology in the MENA region. Recommendations include enhancing education and training, fostering interdisciplinary collaboration, disseminating scientific knowledge, increasing access to resources, and revising medico-legal frameworks. These measures can bridge existing gaps and advance forensic anthropology’s role in medico-legal and humanitarian contexts.

Majid Bahramian, Courage Krah, Paul Hynds et al.

Effective management of household food waste (HFW) is essential for sustainability and aligning with Ireland’s waste reduction goals. This study evaluates the environmental and economic impacts of four HFW management scenarios—incineration, anaerobic digestion (AD) with digestate composting, AD with digestate incineration, and AD with digestate gasification—using life cycle assessment (LCA) and life cycle costing (LCC) analyses. The functional unit is 1000 tons of daily HFW treatment. The results show that AD scenarios offer significant environmental advantages over incineration, with AD combined with digestate composting identified as the most sustainable option. This scenario achieves the greatest reduction in greenhouse gas emissions and enhances nutrient recovery. Economically, while AD involves higher capital investments (€677,000–€2,033,000), its long-term cost effectiveness is demonstrated through LCCs ranging from €1,016,000 to €3,386,000, partially offset by revenues of €339,000–€677,000. The sensitivity analysis highlights opportunities for improvement, such as optimizing water use and reducing emissions from biogas engines. The findings provide actionable insights for policymakers, emphasizing the environmental and economic benefits of integrating AD with composting as a preferred strategy for HFW management.

Esther Ogwa Obebe, Yazid Hadjadj, Samson Okikiola Oparanti et al.

The reliability of the electrical grid is vital to economic prosperity and quality of life. Power transformers, key components of transmission and distribution systems, represent major capital investments. Traditionally, these machines have relied on petroleum-based mineral oil as an insulating liquid. However, with a global shift toward sustainability, renewable insulating materials like natural esters are gaining attention due to their environmental and fire safety benefits. These biodegradable liquids are poised to replace hydrocarbon-based oils in transformers, aligning with Sustainable Development Goals 7 and 13 by promoting clean energy and climate action. Despite their advantages, natural esters face challenges in high-voltage applications, particularly due to oxidation stability issues linked to their fatty acid composition. Various antioxidants have been explored to address this, with synthetic antioxidants proving more effective than natural ones, especially under high-temperature conditions. Their superior thermal stability ensures that natural esters retain their cooling and dielectric properties, essential for transformer performance. Furthermore, integrating machine learning and artificial intelligence in antioxidant development and monitoring presents a transformative opportunity. This review provides insights into the role of antioxidants in natural ester-filled power equipment, supporting their broader adoption and contributing to a more sustainable energy future.

Kunal Menda, Raphael S Benarrosh

Suppose you are a fund manager with \$100 million to deploy and two years to invest it. A deal comes across your desk that looks appealing but costs \$50 million -- half of your available capital. Should you take it, or wait for something better? The decision hinges on the trade-off between current opportunities and uncertain future arrivals. This work formulates the problem of capital deployment under stochastic deal arrivals as a continuous-time Markov decision process (CTMDP) and solves it numerically via an approximate dynamic programming (ADP) approach. We model deal economics using correlated lognormal distributions for multiples on invested capital (MOIC) and deal sizes, and model arrivals as a nonhomogeneous Poisson process (NHPP). Our approach uses quasi-Monte Carlo (QMC) sampling to efficiently approximate the continuous-time Bellman equation for the value function over a discretized capital grid. We present an interpretable acceptance policy, illustrating how selectivity evolves over time and as capital is consumed. We show in simulation that this policy outperforms a baseline that accepts any affordable deal exceeding a fixed hurdle rate.

Oğuzhan Akgün, Ezgi Özsöğüt

This study explores the link between the capital share and income inequality over the past four decades across 56 countries. Calculating the capital share from national accounts alongside top income share data from the World Inequality Database, which is based on the Distributional National Accounts methodology, we ensure the consistency in the theory and measurement. Employing a structural econometric approach, we account for heterogeneous and time-varying transmission coefficients from the capital share to personal income inequality. Our findings reveal that a one percentage point (pp) increase in the capital share raises the income share of the top 5% by 0.17 pp on average. Advanced economies show a stable transmission coefficient with rising capital and labor income inequality, while emerging economies experience an increasing transmission coefficient alongside growing capital income inequality. In contrast, a third group exhibits a declining transmission coefficient and rising labor income inequality. Overall, changes in the capital share account for approximately 50% of the rise in income inequality, underscoring its pivotal role over the last four decades.

Gordon Getty, Nikita Tkachenko

Capital growth, at large scales only, arrives with no help from net saving, and consequently with no help from consumption constraint. Net saving, at large scales, is sacrifice of consumption with nothing in return.

Theodore H. Goodman, Monica Neamtiu, Nemit Shroff et al.

ABSTRACT: Corporate investment decisions require managers to forecast expected future cash flows from potential investments. Although these forecasts are a critical component of successful investing, they are not directly observable by external stakeholders. In this study, we investigate whether the quality of managers' externally reported earnings forecasts can be used to infer the quality of their corporate investment decisions. Relying on the intuition that managers draw on similar skills when generating external earnings forecasts and internal payoff forecasts for their investment decisions, we predict that managers with higher quality external earnings forecasts make better investment decisions. Consistent with our prediction, we find that forecasting quality is positively associated with the quality of both acquisition and capital expenditure decisions. Our evidence suggests that externally observed forecasting quality can be used to infer the quality of capital budgeting decisions within firms. JEL...

Арьяти Арьяти , Джунаиди Джунаиди , Рэнди Ариядита Путра

During the COVID-19 pandemic, most countries suffered economically. Financial institutions play an important role in enhancing economic growth through intermediation. However, preliminary studies focused on common aspects of financial institutions rather than the banking context, and the majority of the literature was written prior to the COVID-19 pandemic. This study examines the banking sector’s role in short-run and long-run contributions to economic growth from 2009 to 2021. Indicators of the number of banking deposits, offices and public financing were used as proxies to validate the relationship between Indonesian financial development and economic growth (gross domestic product) in the vector error correction model (VECM). The Indonesian bank’s contribution to the country’s economic growth was examined. Data were collected from banks’ annual reports. This study found a strong short- and long-term correlation between financial development and Indonesia’s economic growth. There is a bidirectional relationship between Indonesia’s Islamic Bank (IIB) and GDP. The relationship between the conventional bank and Indonesia’s economic growth is unidirectional. Therefore, policymakers should enhance the intensified mobilisation of loans obtained for capital and productive projects. This study also shows that macroeconomic and microeconomic stability can be improved by enhancing capital inflows and investments in lucrative sectors, as the research goal was to examine the effect of financial development before and after the COVID-19 pandemic, which detriments most countries’ stability. However, future studies need to confirm banks’ contributions to specific sectors such as agriculture and small and medium enterprises due to their strong correlation with developing countries.

P. Aishwarya, Sudharani R, Suresh N

Current research helps in understanding both positive and negative impacts of capital structure on profits of Indian automobile companies by using variables like Return on Capital Employed, Return on Long Term Funds, Return on Net Worth, Gross Profit Margin, and Operating Profit, and Return on Asset. The study hypothesized that RoCE, RoLT, and RoNW have a positive effect and GP, OP and ROA have a negative impact on debt-equity and interest coverage ratios i.e capital structure of the companies. Also, the study proves that the relationship between profitability and capital structure variables is strongly significant. The hypothesis was tested by using fixed effect and random effect models by considering 10 years of data (from 2010-2019) from 17 automobile companies. The result of the study recommends that the firms can improve their performance by using an optimal capital structure. Also, a fair mix of debt and equity should be established to ensure that the firm maintains capital adequacy. Firms can thus be able to meet their financial compulsions and investments that can promise attractive returns.

Sam Johnston

Sustainability initiatives are set to benefit greatly from the growing involvement of venture capital, in the same way that other technological endeavours have been enabled and accelerated in the post-war period. With the spoils increasingly being shared between shareholders and other stakeholders, this requires a more nuanced view than the finance-first methodologies deployed to date. Indeed, it is possible for a venture-backed sustainability startup to deliver outstanding results to society in general without returning a cent to investors, though the most promising outcomes deliver profit with purpose, satisfying all stakeholders in ways that make existing 'extractive' venture capital seem hollow. To explore this nascent area, a review of related research was conducted and social entrepreneurs & investors interviewed to construct a questionnaire assessing the interests and intentions of current & future ecosystem participants. Analysis of 114 responses received via several sampling methods revealed statistically significant relationships between investing preferences and genders, generations, sophistication, and other variables, all the way down to the level of individual UN Sustainable Development Goals (SDGs).

Jarosław Adam Miszczak

The inequality in capital or resource distribution is among the important phenomena observed in populations. The sources of inequality and methods for controlling it are of practical interest. To study this phenomenon, we introduce a model of interaction between agents in the network designed for reducing the inequality in the distribution of capital. To achieve the effect of inequality reduction, we interpret the outcome of the elementary game played in the network such that the wining of the game is translated into the reduction of the inequality. We study different interpretations of the introduced scheme and their impact on the behaviour of agents in the terms of the capital distribution, and we provide examples based on the capital dependent Parrondo's paradox. The results presented in this study provide insight into the mechanics of the inequality formation in the society.

Ryszard Piasecki, Miron Wolnicki, Erico Wulf Betancourt

The impact of artificial intelligence (AI) on business, government, and society is getting more attention. The leading AI sectors have higher productivity but a lower share of GDP than those lagging in digitization and AI. There is a technological gap, with still unknown consequences concerning the social contract, the expected new digital welfare profile, as well as the business strategy about globalization. The hypothesis is that while digitization was already in motion (2000–2005), capital outflow from the US to MHGEs (market high-growth economies) in Asia negatively affected its productivity outcome. Additionally, it is expected that AI will give more market power to multinationals, reshaping the social contract. Thus, the current western social contract will no longer be able to cope with the consequences of the weakness of the nation-state, its policymakers, or the powerful profit-driven multinationals to deal with the overall effect of AI. We aim to look at the impact of this new state of technology on the social contract, focusing on the proper actions of government and business to deal with it. We used a descriptive approach based on desk research concerning productivity data, European government policies, trade model analysis, and business approach to AI. We expect to demonstrate the dynamic interaction of the K/L ratio within the prevailing status of global resources mobility, and the dangers unregulated AI represents to labor. Policy actions are needed concerning the legal status of AI and how to avert the collapse of the social contract and the rise of oligarchic cyber‑autocracies. Our general conclusion is as follows: While capital investments, which would have contributed to improved total factor productivity (TFP) in the USA, went to MHGEs, increasing their GDP growth in less than a decade, the broad use of Artificial Intelligence (AI) will reverse massive offshoring, and new types of manufacturing processes will emerge in developed countries.