Real Options and Govemment Supports to Infrastructure Investments： An Empirical Study

This paper provides evidence for the relationship between various forms of real options in infrastructure projects and the types and levels of government supports to the infrastructure investments. It analyzes the common real options and real options-based strategic investments and aligns them with the common types of public-private partnership （PPP） infrastructure projects. It then develops models to show that the real options incorporated into the different types of PPP infrastructure projects affect the level of direct government cash supports to the projects and hence the viabilities of such projects. The paper however shows that the relationship between the embedded real options and viabilities of infrastructure projects can be influenced by such factors as contract period and percentage of private sector contributions to the projects.

Investments in Human Capital： Elements of Investments, Their Valuation, and the Related Financial Performance Ratios

Investments in human capital （employees） include investments in the direct assurance of working abilities, investments in health and well-being, and investments in loyalty to the company. These investments are crucial for the long-term existence and development of a company, but their value is not disclosed on the assets side of the classical balance sheet. The most important argument of the mentioned approach＇s promoters is that the economic benefits stemming from such investments are uncertain. However, investments in human capital are those with the highest long-term benefits for the company. Therefore, human capital is the only element of the business process that can add value. Other elements （equipment, materials, and services） just transfer their value to products and services. In this paper, the elements of investments in human capital and the methods used to evaluate these investments are addressed. In addition, uniquely shaped financial performance ratios related to investments in human capital are presented along with the system of integrated ratios.

LOCATIONAL DISTRIBUTION AND SPATIAL DIFFUSION OF FOREIGN DIRECT INVESTMENTS FROM HONGKONG AND MACAO IN MAINLAND OF CHINA

Foreign direct investments (or FDIs) have been employed since the early 1980s and they have become more and more immportant in Chinese economic development. However, the roles of FDIs are very different between regions, partly due to the different locational preference of various source countries. Some facts show that FDIs from Hongkong - Macao indicate a strong locational preference. Therefore, this paper attempts to make an empirical research on the locational preference of Hongkong - Macao’s FDIs and their spatial diffusion under the support of statistical data with regrereion analysis. In this paper, three statistical models, including the special location model, the general location model and the spatial diffusion model, are created. The results show that this kind of analysis is successful. The major conclusions are as follows. (1) The optimum location for FDIs from Hongkong - Macao lies in the coastal area, especially Guangdong, Hainan, Jiangsu, Shandong, Fujian provinces. Besides, Hubei Province is also an important radon. (2) The FDIs from HongkongMacao in China have diffused gradually from the coastal provinces to the inland regions, the northem and the metropolis and from the locations that had attracted a large number of investments to their vicinities since the 1990s. (3) The special location factors, such as the herder effect, the unique social and kinship ties are the key factors determining the special locational distribution. (4) The general location and spatial diffusion of Hongkong - Macao’s FDIs are the results of interplay of several economic factors. They are the economic scale and advantage, the growth rate, the laier force and economic extrovert etc.

Rapid preparation of ceramic moulds for medium-sized superalloy castings with magnesia-phosphate-bonded bauxite-mullite investments

Phosphate-bonded investments have already been widely utilized in dental restoration and micro-casting of artistic products for its outstanding rapid setting and high strength. However, the rapid setting rate of investment slurry has up to now been a barrier to extend the use of such slurry in preparation of medium-sized ceramic moulds. This paper proposes a new process of rapid fabrication of magnesia-phosphate-bonded investment ceramic moulds for medium-sized superalloy castings utilizing bauxite and mullite as refractory aggregates. In order to determine the properties of magnesia-phosphate-bonded bauxite-mullite investments (MPBBMI), a series of experiments were conducted, including modifciation of the workable time of slurry by liquid(mL)/powder(g)(L/P) ratio and addition of boric acid as retard agent and sodium tri-polyphosphate (STP) as strengthening agent, and adjustment of bauxite (g)/mullite(g)(B/M) ratio for mechanical strength. Mechanical vibration was applied to improve initial setting time and fluidity when pouring investment slurry; then an intermediate size ceramic mould for superalloy castings was manufactured by means of this rapid preparing process with MPBBMI material. The results showed that the MPBBMI slurry exhibits proper initial setting time and excellent fluidity when the L/P ratio is 0.64 and the boric acid content is 0.88wt.%. The fired specimens made from the MPBBMI material demonstrated adequate compression strength to withstand impact force of molten metal when the B/M ratio is 0.89 and the STP content is 0.92wt.%. The experimental results confirmed the feasibility of the proposed rapid fabricating process for medium-sized ceramic moulds with MPBBMI material by appropriate measures.

Investigating the components of fintech ecosystem for distributed energy investments with an integrated quantum spherical decision support system

This study aimed to evaluate the components of a fintech ecosystem for distributed energy investments.A new decision-making model was created using multiple stepwise weight assessment ratio analysis and elimination and choice translating reality techniques based on quantum spherical fuzzy sets.First,in this model,the criteria for distributed energy investment necessities were weighted.Second,we ranked the components of the fintech ecosystem for distributed energy investments.The main contribution of this study is that appropriate strategies can be presented to design effective fintech ecosystems to increase distributed energy investments,by considering an original fuzzy decision-making model.Capacity is the most critical issue with respect to distributed energy investment necessities because it has the greatest weight(0.261).Pricing is another significant factor for this condition,with a weight of 0.254.Results of the ranking of the components of the fintech ecosystem indicate that end users are of the greatest importance for the effectiveness of this system.It is necessary to develop new techniques for the energy storage process,especially with technological developments,to prevent disruptions in energy production capacity.In addition,customers’expectations should be considered for the development of effective and user-friendly financial products that are preferred by a wider audience.This would have a positive effect on fintech ecosystem performance.

Harvest from our investments in all 3G standards.

Only ZTE can deliver end-to-end equipment for all 3G standards-WCDMA, CDMA2000, TD-SCDMA and WiMAX. Our WCDMA solutions are used in 30 countries and regions,

Harvest from our investments in all 3G standards.

Only ZTE can deliver end-to-end equipment for all 3G standards-WCDMA, CDMA2000, TD-SCDMA and WiMAX. Our WCDMA solutions are used in 30 countries and regions, and our CDMA systems are used by 120 operators in more than 70 countries.

Static and Dynamic Indicators in the Analysis of Internal Sources of Companies＇ Investments Financing

The Republic of Serbia is characterized by an unsatisfactory macroeconomic environment. Under the conditions of an evident shortage of liquid assets, the financial capital has moved from real to the financial sector, which led companies to over-indebtedness and shutdown of their own capacities. Therefore, capital investments largely depend on internal financing sources and the ability of companies to internally generate funds for investments. In this regard, an emphasis is placed on the difference in the assessment of the company＇s investment capacity based on internal financing sources, which are measured using static and dynamic indicators in order to prove the necessity of applying dynamic coefficients, which are unfortunately not present in our domestic practice. The paper examines and proves the advantages of the use of the dynamic approach for such analyses using the example of energy sector, which is one of the most important branches in Serbian economy.

Quality-Oriented Facade Systems： Initial Investments vs. Global Cost Approach

An analysis applied to an existing building considering the whole service life, regulated or, if any, measured, of energy/technological upgrading action does not only require initial investments to be taken into account. Of course, such investments are significant and will have to be considered at a first stage, but it is not the only aspect to be considered. Provisions of Construction Procurement Guidance, No.7 Whole Life Costs state： ＂All procurement must be made solely on the basis of value for money in terms of the optimum combination of global costs--and not only initial investment costs--and quality to meet the user＇s requirements＂.

Investments in the Russian Agriculture Under the Economic, Political Volatility

The article states that the purpose of the agricultural industry of Russia is the creation of a market for innovation and investment to improve productivity and competitiveness in the context of growing economic, political, and natural climatic instability and volatility, both in Russia and abroad （membership in the WTO, industry globalization, etc.）. Foreign economic and political sanctions have a growing negative impact. It is very important for the agriculture industry to be supported by the Russian state budget and to have administrative support, the institutional structure of the state, quantitative and qualitative indicators of national support： federal, regional, and municipal. Positive development of the regional and city aspect is also important.

The Impact of Foreign Direct Investments on Agricultural Sector Output: The Case of Zimbabwe from 2000-2017

This research explored the impact of foreign direct investments on the Agricultural sector output with emphasis on exports in Zimbabwe from 2000-2017.The study sought to establish whether agriculture could flourish in the absence of foreign direct investments.It was also essential to investigate whether the injection of foreign direct investment into the Agriculture sector had a positive or negative impact on the outputs especially agricultural exports.The research used data drawn from a sample of five agricultural products which are tobacco,cotton lint,raw sugar,soya beans,and macadamia nuts.The Ordinary Least Squares and Unit Root tests were used because they assume that FDI can stimulate growth if it brings increasing returns to production and also in the outputs.The research study was a desktop research which used both qualitative and quantitative methods of collecting data.Data were obtained from Zimbabwe Statistics Agency(ZIMSTATS),foreign direct investment figures,and percentages of agricultural investment to total investments were collected from Zimbabwe Investment Authority(ZIA).Questionnaires were also used to obtain data from both those farmers who received and those who did not receive foreign investments as inputs.The results obtained showed that there was a positive relationship which could also be measured by the growth models employed to establish the growth in increased outputs and exports after injecting FDIs into agriculture.Recommendations were made to both farmers and the Ministry of Agriculture to attract more FDIs into Zimbabwe’s Agriculture sector.

Main Factors Affecting the Balance of Investments in Serbia and New Trends of Investment

The importance of investment for the development of some country is undeniable. In today＇s economic conditions, it is necessary to observe all the influencing factors and examine their impact on the investments in the economy of some country. The goal of each country is to create a favorable climate （conditions） for the investments, because they stimulate the growth and development of the country. The aim of this paper is to point of the current situation （the past few years） of the foreign investments in Serbia＇s economy and to highlight the main factors that influenced this situation. In a past few years, there is another trend of unexploited resource of investment seen in Serbia, which is more and more attractive in the region, but unfortunately unjustly neglected in Serbia. These sources are venture capital and private equity funds. Some of the influencing factors that must be emphasized are the country＇s general economic situation, political risks, taxation, the financing of the investments, the government＇s incentives （subsidies）, support from some specialized institutions, etc..

Application of LED Type Lamps in Domestic and Public Utilities and Gain Capability to Run New Small Investments in Rwanda

The Rwandan State-run Energy Water and Sanitation Authority Company (EWSA) is rapidly increasing the number of population having access to electrical power energy. 30% of electrical energy is used in lighting. The incandescent bulbs, compact fluorescent lamp bulbs as well as fluorescent tubes are mostly used to convert electrical energy into light. The said light sources have many disadvantages such as excessive power consumption leading to giant bills of electricity, short life span leading to continuous replacement of lamps, and emission of CO2. Application of light-emitting diode (LED) lamps in lighting in long term suppresses the aforementioned problems resulting into saving of money that will be used for running new small investments.

Research on the Impact of Venture Risk Tolerance on R&D investments:Based on Entrepreneur Ability

How do start-ups enhance risk tolerance and core competition through product,technology,and service development?What is the relationship between the core competitiveness of start-ups and R&D investments?Based on the perspective of entrepreneurial ability,222 questionnaires were used to study the factors affecting the risk tolerance of start-ups and analyze the effect of risk tolerance on R&D investments.The research shows that the interactions of entrepreneur ability and start-up funds have a positive effect on the risk tolerance of start-ups,and the risk tolerance can positively promote R&D investment willingness and intensity for new products,technologies,and services.Also,R&D investment willingness plays a partial intermediary role between the risk tolerance of start-ups and the intensity of R&D investments.

Proposal for a Tax Rate Swap to Shield Against the Gap Between Statutory and Effective Tax Rates-A Boost for Entrepreneurship and a Motive for New Investments

This paper focuses on a common problem for entrepreneurs and investors:the uncertainty around the actual tax rate,which is the percent of net income that a corporation pays in taxes.This uncertainty results from a difference(i.e.,a gap)between the statutory and the effective tax rate,which is the actual tax rate.This gap results from the legal framework which provides that certain types of incomes and expenses are not considered income.This gap causes significant uncertainty and may hinder entrepreneurship.This paper studies this gap in seven OECD countries(Austria,Canada,France,Germany,Italy,UK,and USA)and Brazil.We selected the 10 top-listed companies of each country and calculated the gaps for the period 2016-2019.Our findings proved that these gaps are unstable and may differ between companies of the same country and between countries.In addition,gaps of specific companies may change over time.The key outcome of this paper is the proposal of a new derivative tax rate swap.Using this derivative,governments will be able to eliminate the gap of specific companies,attract new investment,and increase entrepreneurship.

Japanese Enterprises Wish to Expand Investments in China,Despite Declining in 2015

Japan’s investment in China in2015 was$3.2 billion,which was a drop of 25.9%compared with the year before;as for trade,however,Japan was the second destination country for China’s exports,with a volume of$135.7 billion;as for imports,Japan ranked third with a volume of$143 billion.Japanese companies

XINJIANG WOOING OVERSEAS INVESTMENTS

Xinjiang Uygur Autonomous Region ofChina is at the heart of Asia and Europecontinents.It borders on eight countries,andhas 58 porr counties and 15 State Council—approved open ports.The second EurasiaContinental Bridge runs across Xinjiang.Inrecent years,tne region has been

Lower Cotton Production and Higher Chinese Investments

According to the latest reportrfrom the Germany-based Bremen Cotton Exchange, the January US cotton 2008-09 supply and demand