Search results for "Rate of return"
showing 10 items of 43 documents
The effects of recent Spanish pension reforms on sustainability and pension adequacy
2017
ABSTRACTThe Spanish pension system has been recently reformed as a response to the demographic challenge and with the objective of ensuring the sustainability of the pension system in the long-term. The overall reforms include changes in the majority of the system parameters, a new indexation rule and a sustainability factor that links life expectancy and the first pension amount. The aim of this work is to analyse how these reforms affect two important features of a pension system: fiscal sustainability and adequacy. For this purpose, the real internal rate of return (IRR) of the lifetime contributions and benefits and the prospective gross theoretical replacement rate (TRR), both before a…
Multicriteria evaluation of sustainable energy solutions for Colosseum
2017
Abstract Colosseum is a large office building in the capital region of Finland. The building owner operates on the highly competitive office rental market. With increasing emphasis on environmental responsibility, energy efficiency and sustainable energy solutions can provide competitive edge on the rental market. This study evaluates in terms of multiple criteria different alternatives to enhance the energy solutions of the building. The alternatives included different configurations of solar power, ground source heat, and roof constructions, along with district heating. Decision criteria included internal rate of return, energy efficiency, CO2 emissions, and attractiveness. Attractiveness…
Battery storage systems for peak load shaving applications: Part 2: Economic feasibility and sensitivity analysis
2016
This paper is the second of a two-part series, aiming to evaluate the economic feasibility of electrochemical storage systems in peak load shaving applications. The battery energy storage system (BESS) is considered to be added to a private facility, with the aim of reducing the customer electricity bill. The BESS is charged during the night, when the electricity prices are the lowest and discharged during the daily hours, when the prices are the highest, contemporary achieving a leveling of the daily usage pattern. The economical evaluations are carried out considering four different electrochemical technologies: lithium-ion (li-ion), advanced lead-acid, sodium-sulphur (NaS) and flow batte…
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…
Comparative economic analysis of support policies for solar PV in the most representative EU countries
2015
Abstract The purpose of this paper is to study the positions of some European Union (EU) countries on the development of PV systems. After a review of the main support policies for PV systems in Europe, the specific situations of five representative countries (France, Germany, Greece, Italy and the U.K.) are examined, with the purpose of describing the main differences in their implementation of support policies adopted for PV systems. In particular, comparisons based on economic indexes such as the net present value (NPV) and the internal rate of return (IRR) are carried out for different sized PV systems, showing that in some situations support policies can be inconvenient for the PV syst…
Determinants of required returns in venture capital investments: a five country study
2002
Abstract Using two complementary theoretical perspectives, we develop hypotheses regarding the determinants of the return required by venture capitalists and test them on a sample of over 200 venture capital companies (VCCs) located in five countries. Consistent with resource-based theory, we find that early-stage specialists require a significantly higher return than other VCCs when investing in later-stage ventures. Consistent with financial theory, we find that acquisition/buyout specialists require a significantly lower return than other VCCs when investing in expansion companies. Furthermore, in comparison to specialists, highly stage-diversified VCCs require a significantly higher ret…
The prometeia model for managing insurance policies with guarantees
2008
Publisher Summary This chapter discusses the development of a scenario-based optimization model for asset and liability management for the participating policies with guarantees and bonus provisions offered by Italian insurers. The changing landscape of the financial services in Italy sets the backdrop for the development of this system which was the result of a multi-year collaborative effort between academic researchers, the research staff at Prometeia in Bologna, and end-users from diverse Italian insurers. It also presents and discusses the model and its key feature, and introduces several extensions. The resulting system allows the analysis of the tradeoffs facing an insurance firm in …
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…
ESTIMATION OF THE PRIVATE AND SOCIAL RATE OF RETURN FROM EDUCATION IN LATVIA
2014
IZGLĪTĪBAS PRIVĀTĀS UN SOCIĀLĀS ATDEVES NOVĒRTĒJUMS LATVIJĀ Anotācija Promocijas darba mērķis ir novērtēt izglītības ietekmi uz darba samaksu un darba produktivitāti indivīda un sabiedrības līmenī Latvijā, kā arī izstrādāt priekšlikumus izglītības nozīmes paaugstināšanai un atdeves novērtējuma lietošanai. Lai novērtētu izglītības privāto atdevi, tiek izmantota Mincera ienākumu funkcija, kā arī profesora E. de la Fuentes metodoloģija. Novērtējot sociālo atdevi, autore aprēķināja vīriešu un sieviešu (ar augstāko izglītību) cilvēkkapitālu laika posmā no 2000. līdz 2010. gadam un iegūtos rezultātus lietoja ražošanas funkcijā, aprēķinot izglītības ietekmi uz darba produktivitāti. Autore aprēķinā…
A comparison of marketing teaching methods in North American and European universities
2006
PurposeTo compare marketing education methods in Europe and North America, and analyse the opinions about effectiveness underpinning educators' choices among available options.Design/methodology/approachE‐mail questionnaires distributed to a sampling frame extracted from the worldwide directory of the Academy of Marketing Science were completed by 93 marketing academics in North America and 42 in Europe: a 26 per cent overall return rate. Data were analysed by χ2, ANOVA and correspondence analysis.FindingsThree teaching‐and‐learning methods are most common in both environments: practical exercises, case studies and lectures. Europeans tend to rely on lectures and other traditional methods, …