This study empirically examines the influence of decision makers＇ （DMs） characteristics on risk analysis in strategic investment decisions （SIDs） of companies operating automotive industry in India. This study ha...This study empirically examines the influence of decision makers＇ （DMs） characteristics on risk analysis in strategic investment decisions （SIDs） of companies operating automotive industry in India. This study has developed and tested a structural model that linking select demographics, risk propensity and risk analysis in SIDs. The primary data were collected from Senior Finance Professionals （CFOs, GMs, VPs and so on） representing 36 listed automotive companies operating in India. Based on the responses collected from a single cross-sectional mailed survey, this study finds that risk propensity has a significant positive influence on the extent of usage of risk analysis in SIDs.展开更多
The variability of renewable energy and transmission congestion provide opportunities for arbitrage by merchants in deregulated electricity markets.Merchants strategically invest to maximize their profits.This paper p...The variability of renewable energy and transmission congestion provide opportunities for arbitrage by merchants in deregulated electricity markets.Merchants strategically invest to maximize their profits.This paper proposes a joint investment framework for renewable energy,transmission lines,and energy storage using the Stackelberg game model.At the upper level,merchants implement investment and operation strategies for deregulated transmission and energy storage to maximize profits.At the middle level,central planners seek to maximize social welfare through investments in centralized renewable energy and energy storage.At the lower level,independent system operators jointly optimize the energy and reserve markets to minimize the total operating costs.Merchants are remunerated through financial rights,which are a settlement method based on locational marginal price.The trilevel optimization problem is reformulated as a tractable single-level one using Karush-Kuhn-Tucker(KKT)conditions and strong duality theory.The interaction between merchants and central planners is studied with an example based on the IEEE 30-bus test system.The assignment of weight coefficients to the corresponding stochastic scenarios can help merchants avoid investment risk,and their effectiveness is verified with the IEEE 118-bus test system.展开更多
International investment has today replaced the role of trade and become an important means of organizing internationalized production and servicing the global market. However, compared with international trade and in...International investment has today replaced the role of trade and become an important means of organizing internationalized production and servicing the global market. However, compared with international trade and international finance, international investment lags behind in establishing an international coordination mechanism. The global trade and finance have had the WTO-based international trade system and the IMF-based international financial system respectively. But the global investment lacks comprehensive "rules of the game". Establishing a comprehensive multilateral framework on investment (MFI)展开更多
文摘This study empirically examines the influence of decision makers＇ （DMs） characteristics on risk analysis in strategic investment decisions （SIDs） of companies operating automotive industry in India. This study has developed and tested a structural model that linking select demographics, risk propensity and risk analysis in SIDs. The primary data were collected from Senior Finance Professionals （CFOs, GMs, VPs and so on） representing 36 listed automotive companies operating in India. Based on the responses collected from a single cross-sectional mailed survey, this study finds that risk propensity has a significant positive influence on the extent of usage of risk analysis in SIDs.
基金This work was supported in part by the National Natural Science Foundation of China(No.51777126).
文摘The variability of renewable energy and transmission congestion provide opportunities for arbitrage by merchants in deregulated electricity markets.Merchants strategically invest to maximize their profits.This paper proposes a joint investment framework for renewable energy,transmission lines,and energy storage using the Stackelberg game model.At the upper level,merchants implement investment and operation strategies for deregulated transmission and energy storage to maximize profits.At the middle level,central planners seek to maximize social welfare through investments in centralized renewable energy and energy storage.At the lower level,independent system operators jointly optimize the energy and reserve markets to minimize the total operating costs.Merchants are remunerated through financial rights,which are a settlement method based on locational marginal price.The trilevel optimization problem is reformulated as a tractable single-level one using Karush-Kuhn-Tucker(KKT)conditions and strong duality theory.The interaction between merchants and central planners is studied with an example based on the IEEE 30-bus test system.The assignment of weight coefficients to the corresponding stochastic scenarios can help merchants avoid investment risk,and their effectiveness is verified with the IEEE 118-bus test system.
文摘International investment has today replaced the role of trade and become an important means of organizing internationalized production and servicing the global market. However, compared with international trade and international finance, international investment lags behind in establishing an international coordination mechanism. The global trade and finance have had the WTO-based international trade system and the IMF-based international financial system respectively. But the global investment lacks comprehensive "rules of the game". Establishing a comprehensive multilateral framework on investment (MFI)
