58 research outputs found

    Setting a business strategy to weather the telecommunications industry downturn by using fuzzy MCDM

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    [[abstract]]Telecommunications deregulation, the exponential increase in internet IP applications, and the emergence of 3G broadband mobile services have created tremendous growth in the telecommunications industry in the past few years. However, the recent abrupt economic slowdown has resulted in mass corporate restructuring and workforce realignment in the telecommunications industry. During this telecommunications downturn, how to promptly implement a business strategy to weather the economic storm has become a critical issue. Often, corporations do not know how to evaluate a company's qualitative issues while setting a business strategy. This, in turn, could cause long-term negative impact on a corporation. The purpose of this paper is to help corporations in evaluating fuzzy qualitative issues during business development by employing a fuzzy MCDM method. An empirical formula is employed as an example to examine the practicability and usefulness of this method. Study results show that the R&D focus has the highest ranking among all of the strategies examined

    Project Finance and MCDM financial models: An application in renewable energy projects

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    Tesis por compendio[EN] Academics, managerial and policy making community reinforce that renewable energy investments are one of the most effective instruments to attain CO2 emission reduction targets set by the Kyoto Protocol and by the recent Paris Agreement signed at the Paris climate conference (COP21) in December 2015 in which 195 countries adopted the first-ever universal, legally binding global climate deal. The problem of financing Renewable Energy (RE) projects has become a crucial issue for private and public decision makers worldwide. Budget constraints from governments and limited bank lending capacities have led to a reconsideration of the traditional financial instruments in the RE sector. The lack of credit makes impossible for commercial banks to fund RE projects with traditional loans. Research on new financing techniques for RE projects, such as Project Finance (PF) has gained interest in recent years. PF is a recent technique applied in large investments projects. During the last decades of the 20th century new public private partnership schemes enabled large infrastructure, energy and environmental projects. In these sectors PF has been used to reduce cost agency conflicts and better risk management. There is a wide number of contributions underlying the relevance of RE, however there is a lack of research on the financial aspects of RE projects. This research aims to make several contributions. First, to provide a better understanding of the PF technique and its use in the RE sector. Second, to fill the gap of research on financial aspects of RE in the literature by reviewing contributions of MCDM to RE project evaluation from the investor's perspective. Third, we propose a MPDM Moderate Pessimism Decision Making model, which adds to the rational financial evaluation of investment opportunities a set of non-financial factors that affects the investor's decisions. Finally, within the illustrative example, we apply this multi-criteria decision making process to help banks to decide if they must join a project or not.[ES] Investigadores, comunidad empresarial y clase política destacan que la inversión en energías renovables es uno de los instrumentos más efectivos para alcanzar los objetivos de reducción de CO2 establecidos por el reciente acuerdo firmado en la conferencia de Paris (COP21) en diciembre de 2015, en el cual, 195 países adoptaron el primer acuerdo universal y jurídicamente vinculante de la historia. El problema de la financiación de los proyectos de energía renovable (RE) es un tema crucial para cualquier decisor público o privado. Las limitaciones presupuestarias de los gobiernos y la falta de crédito han provocado que se reconsideren los instrumentos de financiación en el sector de las RE, por lo tanto, la investigación en nuevas técnicas de financiamiento para los proyectos de RE, como Project Finance (PF) ha ganado interés en los últimos años. PF es una técnica que se aplica en grandes proyectos de inversión. A finales del Siglo XX, los nuevos esquemas de colaboración público-privadas han permitido llevar a cabo grandes proyectos de infraestructuras y de RE. En estos sectores, el PF se ha utilizado para reducir costes, conflictos y mitigar riesgos. Numerosas contribuciones científicas subrayan la importancia de la RE, sin embargo hay un vacío en la investigación sobre los aspectos financieros de los proyectos de RE. Esta tesis tiene como objetivo aportar varias contribuciones. En primer lugar, proporcionar una mejor comprensión de la técnica del PF y su uso en el sector de las RE. En segundo lugar, cubrir el vacío existente en la literatura sobre la investigación de los aspectos financieros de las RE mediante la revisión de las contribuciones sobre MCDM para la evaluación de los proyectos de RE desde el punto de vista del inversor. En tercer lugar, se propone un modelo MPDM (Moderate Pessimism Decision Making), el cual añade a la evaluación financiera racional de oportunidades de inversión, un conjunto de factores no financieros que afectan a las decisiones de los inversores. Finalmente, se aplica este modelo multicriterio de toma de decisiones para ayudar a decidir a los bancos si deben unirse al proyecto.[CA] Investigadors, comunitat empresarial i classe política, destaquen que la inversió en energies renovables és un dels instruments més efectius per assolir els objectius de reducció de les emissions de CO2 establerts pel recent acord signat a la conferència de Paris (COP21) al desembre de 2015, mitjançant el qual, 195 països van adoptar el primer acord universal i jurídicament vinculant de la història. El problema del finançament dels projectes d'energia renovable (RE) s'ha convertit en un tema crucial per a qualsevol decisor públics i privats. Les limitacions pressupostàries dels governs i La falta de crèdit han provocat que es reconsiderin els instruments de finançament en el sector de les RE, per tant, la investigació en noves tècniques de finançament per als projectes de RE, com el Project Finance (PF) ha guanyat interès en els últims anys. PF és una tècnica que s'aplica en grans projectes d'inversió. Durant les últimes dècades del Segle XX, els nous esquemes de col-laboració publico-privades han permès portar a terme grans projectes d'infraestructures i de RE. En aquests sectors, el PF s'ha utilitzat per reduir costos, conflictes i gestionar millor els riscos. Existeixen nombroses contribucions científiques que subratllen la importància de la RE, però hi ha un buit en la investigació pel que fa als aspectes financers dels projectes de RE. Aquesta tesis té com a objectiu aportar diverses contribucions. En primer lloc, proporcionar una millor comprensió de la tècnica del PF i el seu ús en el sector de les RE. En segon lloc, cobrir el buit existent en la literatura sobre la investigació dels aspectes financers de les RE mitjançant la revisió de les contribucions sobre MCDM per a l'avaluació dels projectes de RE des del punt de vista de l'inversor. En tercer lloc, es proposa un model MPDM Moderate Pessimism Decision Making, que afegeix a l'avaluació financera racional d'oportunitats d'inversió, un conjunt de factors no financers que afecten les decisions dels inversors. Finalment, mitjançant un exemple il-lustratiu, s'aplica aquest model multicriteri de presa de decisions per ajudar a decidir als bancs si han de unir-se al projecte.Mayor Vitoria, F. (2016). Project Finance and MCDM financial models: An application in renewable energy projects [Tesis doctoral no publicada]. Universitat Politècnica de València. https://doi.org/10.4995/Thesis/10251/73067TESISCompendi

    An analytical decision approach to rural telecommunication infrastructure selection

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    Telecommunications infrastructure is recognised as the fundamental factor for economic and social development for it is the platform of communication and transaction within and beyond geographical boundaries. It is a necessity for social benefits, growth, connection and competition, more in the rural communities in developing countries. Its acquisition entails great investment, considering the emergence of various technologies and thereby making the selection a critical task. The research described in this thesis is concerned with a comprehensive examination and analytical procedures on the selection of technologies, for rural telecommunications infrastructure. A structured systematic approach is deemed necessary to reduce the time and effort in the decision-making process. A literature review was carried out to explore the knowledge in the areas of Multi-Criteria Decision-Making (MCDM) approaches, with particular focus on the analytical decision processes. The findings indicate that, the Analytic Hierarchy Process (AHP)/AnalyticNetwork Process (ANP) are powerful decision methods capable of modelling such acomplex problem. Primarily, an AHP model is formulated, however, since the problem at hand involves many interactions and dependencies, a more holistic method is required to overcome its shortcomings by allowing for dependencies and feedback within the structure. Hence, the ANP is adopted and its network is established to represent the problem, making way to telecommunications experts to provide their judgements on the elements within the structure. The data collected are used to estimate the relative influence from which the overall synthesise is derived, forming a general ANP model for such a rural telecommunications selection problem. To provide a more wide-ranging investigation regarding selecting a potential rural telecommunications infrastructure, another systematic analysis that utilises a BOCR-based (Benefits, Opportunities, Costs and Risks) ANP was conducted. The obtained results indicate that Microwave technology is the most preferred alternative within the context of the developing countries. Sensitivity analysis was performed to show robustness of the obtained results. This framework provides the structure and the flexibility required for such decisions. It enables decision makers to examine the strengths and weaknesses of the problem, by comparing several technology options, with respect to appropriate gauge for judgement. Moreover, using the ANP, the criteria for such a technology selection task were clearly identified and the problem was structured systematically. A case study was carried out in Libya involving its main telecommunications infrastructure provider to demonstrate how such rural technology selection decisions can be made within a specific developing country's rural area. Based on the results of this case study that were in agreement with the focus group's expectations, it can be concluded that the application of the ANP in the selection of telecommunications technology, is indeed beneficial. In addition, it is believed that telecommunications planners could, by the use of data pertaining to another rural area, utilise the developed model to propose appropriate solutions. If new criteria and/or alternatives emerge to satisfy changing business needs, they can also be included in the ANP model.EThOS - Electronic Theses Online ServiceLibyan GovernmentGBUnited Kingdo

    Secure and Sustainable Energy System

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    This special issue aims to contribute to the climate actions which called for the need to address Greenhouse Gas (GHG) emissions, keeping global warming to well below 2°C through various means, including accelerating renewables, clean fuels, and clean technologies into the entire energy system. As long as fossil fuels (coal, gas and oil) are still used in the foreseeable future, it is vital to ensure that these fossil fuels are used cleanly through abated technologies. Financing the clean and energy transition technologies is vital to ensure the smooth transition towards net zero emission by 2050 or beyond. The lack of long‐term financing, the low rate of return, the existence of various risks, and the lack of capacity of market players are major challenges to developing sustainable energy systems.This special collected 17 high-quality empirical studies that assess the challenges for developing secure and sustainable energy systems and provide practical policy recommendations. The editors of this special issue wish to thank the Economic Research Institute for ASEAN and East Asia (ERIA) for funding several papers that were published in this special issue

    Assessment of Socio-Economic Sustainability and Resilience after COVID-19

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    The pandemic period has caused severe socio-economic damage, but it is accompanied by environmental deterioration that can also affect economic opportunities and social equity. In the face of this double risk, future generations are ready to be resilient and make their contribution not only on the consumption side, but also through their inclusion in all companies by bringing green and circular principles with them. Policy makers can also favor this choice

    Forecast for the domestic economy and national competitiveness

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    The globalization of markets, the fourth industrial revolution - Industry 4.0, and the post-pandemic business paradigm affected not only domestic enterprises but enterprises around the world as well. Forecasts regarding GDP growth, unemployment rates and competitiveness are provided and discussed by various organizations (World Bank, European Central Bank, World Economic Forum etc.). Additionally, a large number of quarterly reports on various metrics for almost every country are published. In this paper the existing data and reports published by some of the noted organizations are analyzed. The goal is to provide a concise and informative overview on potential domestic macro-economic trends, on national competitiveness and on the competitiveness of domestic enterprises. The overview is conceptualized through discussing existing and potential economic forecasts based on reports. The paper provides a solid basis for future research in the domain of domestic economy and national competitiveness. The paper also provides suggestions and guidelines for improving the competitiveness of domestic enterprises

    Experimental Evaluation of Growing and Pruning Hyper Basis Function Neural Networks Trained with Extended Information Filter

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    In this paper we test Extended Information Filter (EIF) for sequential training of Hyper Basis Function Neural Networks with growing and pruning ability (HBF-GP). The HBF neuron allows different scaling of input dimensions to provide better generalization property when dealing with complex nonlinear problems in engineering practice. The main intuition behind HBF is in generalization of Gaussian type of neuron that applies Mahalanobis-like distance as a distance metrics between input training sample and prototype vector. We exploit concept of neuron’s significance and allow growing and pruning of HBF neurons during sequential learning process. From engineer’s perspective, EIF is attractive for training of neural networks because it allows a designer to have scarce initial knowledge of the system/problem. Extensive experimental study shows that HBF neural network trained with EIF achieves same prediction error and compactness of network topology when compared to EKF, but without the need to know initial state uncertainty, which is its main advantage over EKF

    Bioinspired metaheuristic algorithms for global optimization

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    This paper presents concise comparison study of newly developed bioinspired algorithms for global optimization problems. Three different metaheuristic techniques, namely Accelerated Particle Swarm Optimization (APSO), Firefly Algorithm (FA), and Grey Wolf Optimizer (GWO) are investigated and implemented in Matlab environment. These methods are compared on four unimodal and multimodal nonlinear functions in order to find global optimum values. Computational results indicate that GWO outperforms other intelligent techniques, and that all aforementioned algorithms can be successfully used for optimization of continuous functions
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