Search results for "Net Present Value"
showing 10 items of 21 documents
Economic comparison between offshore and inshore aquaculture production systems of European sea bass in Italy
2014
Abstract Offshore production system is predicted to increase in the near future driven by the lack of coastal space and lower environmental impacts. The aim of this paper has been to evaluate the economic performance of offshore production system respect to inshore one, by comparing net present value (NPV), discounted payback time (DPBT) and internal rate of return (IRR) of two Italian mariculture farms that produce European sea bass. Results showed a better economic profitability of offshore farm, even if sensitivity analysis revealed that financial indicators of both aquaculture production systems have been very sensitive to market condition changes. So, offshore production system could r…
Risk assessment and profit sharing in business networks
2011
Abstract Nowadays network is the preferred governance form to conduct economic transactions. Network solution allows to reach flexibility maintaining cost and quality level. Since network concept refers to a great variety of organizational hybrids it is possible to choose the one that fits better market requirements. The new trends in inter-organization relationships push towards network solutions: companies are interested in relationships with partners and customers to overcome resource dependence, to enter too risky market or simply differentiate their business portfolio. The proposed research focuses on the network concept aiming at highlighting threats and opportunities to investigate t…
Economic evaluation on the use of reconfiguration systems for increase of energy production in PV plants
2016
This paper presents an economic analysis of the effectiveness of Dynamic Reconfiguration Systems (DRS) for PV plants in dependence of the incentive policies offered by several countries of the European Community. This evaluation has been achieved by means of the NPV (Net Present Value) and through the comparison between Bulgaria, Romania, Greece and Croatia. From the obtained results, it can be stated that the adoption of reconfiguration systems, in certain cases, can be a convenient solution.
Concurrent optimization of size and switch-on priority of a multisource energy system for a commercial building application
2015
Abstract In recent years, the governments of most nations have pledged to (i) limit carbon dioxide emissions, (ii) reduce primary energy consumption by increasing production, distribution and end-use efficiency and (iii) increase the utilization of renewable energy sources. In general, these goals are pursued separately by law, by subsidizing renewable energy technologies, reducing the demand or using high efficiency technologies. In this context, multi-source systems for the fulfillment of energy demands are highly advantageous because they are based on different technologies which use renewable, partially renewable and fossil energy sources. However, the main issues of multi-source system…
Post Feed-in Scheme Photovoltaic System Feasibility Evaluation in Italy: Sicilian Case Studies
2014
: Thanks to national energy policies, over recent years the Italian photovoltaic (PV) sector has undergone an extraordinary growth, also affecting the primary sector. In this context, Mediterranean greenhouses are well-adapted to photovoltaic systems because they represent one of the most energy-intensive sectors in agriculture. The Italian feed-in scheme ended at the beginning of 2013, making it necessary to investigate the feasibility of photovoltaic systems devoid of any electricity production-related incentives. In this paper, production cost and profitability analyses of photovoltaic electricity have been conducted, considering Mediterranean solar greenhouses in which, thanks to net me…
Value based trading of real assets in shipping under stochastic freight rates
2009
The article uses a real options valuation model with stochastic freight rates to investigate market efficiency and the economics of switching between the dry bulk and the tanker markets in international shipping. A dry bulk carrier is replaced with a tanker when the expected net present value of such a switch is optimal from a real options based decision rule. Depending on the development of the markets a reversal may take place later. The cost and demand parameters upon which the decisions to switch are made, including the stochastic characteristics of freight rates, are estimated from an empirical analysis that is updated every week throughout a 12-year time period from 1993 to 2005. The …
New development opportunities for the craft brewing segment: the case study of a micro-malthouse
2017
In Italy in the past few years, the number of small breweries penetrating the craft beer sector has grown exponentially. Craft producers intend to give a strong added value and a local character to their production in different ways. One of these is the use of malt derived from small batches of local cereals and pseudo cereals. The aim of this study is the assessment of investment profitability, through a cost-benefit analysis (CBA), for a compact and a modular micro-malting plant in Sicily (Southern Italy). The CBA for a micro-malthouse was carried out considering both installation and operating costs. Net present value (NPV), discounted benefit-cost ratio (DBCR) and internal rate of retur…
A sustainable phenolic compound extraction system from olive oil mill wastewater
2017
Abstract The reduction of environmental impact and the achievement of economic advantages based on by-product recovery is the aim of applying methodologies for phenolic compounds extraction from Olive Oil Mill Wastewater. Volume reduction of Olive Oil Mill Wastewater could generate important advantages in terms of waste disposal cost abatement and, in addition, reuse in the production of foods with health properties could lead to economic benefits. Despite the fact that literature shows that several techniques have been developed, few economic approaches have been presented. This paper assesses the economic feasibility of a system based on membrane filtration and reverse osmosis processes f…
Functional Data Analysis for Optimizing Strategies of Cash-Flow Management
2017
The cash management deals with problem of automating and managing cash-flow processes. Optimization of the management processes greatly reduces overall cash handling costs. The present analysis is an empirical study of cash flows, from and to bank branches, deriving an underlying theoretical framework, which can in a reasonable way be connected with the optimal strategy. Functional data analysis is considered an appropriate framework to analyze the dynamics of the time series behavior of cash flows: since the observations are not equally spaced in time and their number is different for each series, they are converted into a collection of random curves in a space spanned by finite dimensiona…
Smart multi-carrier energy system: Optimised energy management and investment analysis
2016
This paper proposes an optimised Energy Management System for a multi-carrier hub, which integrates two energy distribution networks, for hydrogen and electricity. The economic sustainability of a real-life instantiation of such a system has been analysed as well. The Energy Management System has been developed by means of a multi-objective optimisation algorithm, the Non-dominated Sorting Genetic Algorithm II, implemented using MATLAB®. The achieved results consist in a series of set-points defining the working conditions of the plant for a chosen time horizon. Data provided by this process also show the effectiveness of the adopted optimisation approach. The financial analysis is performe…