Display omitted
•Transparent photovoltaic is concretely approaching to the market.•Hybrid solar cells can now exceed exploitable visible light transmittance.•A real-case study on a simulated ...photovoltaic-powered office is proposed.•Companies ready to commercialize transparent building-integrated photovoltaic products are reviewed.
The world energy scenario is now living significant contributions coming from the photovoltaic field: new organic/inorganic hybrid materials have emerged in recent years, and in some cases these emerging strategies have exceeded the performance of traditional crystalline silicon. The next step concerns the integration of these technologies in smart buildings, in order to maximize the active surface capable of producing electricity and to contain the costs of air conditioning without affecting the amount of light needed. This review focuses on some of the most recent strategies developed to this purpose. Following an initial background on solar cells and figures of merit to characterize a transparent photovoltaic panel, the manuscript deals with a thorough analysis of wavelength-selective and non-wavelength selective devices, mentioning the main outcomes in the recent years. This distinction is proposed for both solar cells and solar concentrators, two areas in rapid evolution in academia and company worlds. A newly proposed case study and the example of a pre-industrial reality that has just started to scale-up this technology conclude this review, leaving to the reader a rich background on this highly-in-vogue field.
The ongoing digital transformation of the national economy inevitably sets the task of introducing digital technologies and tools into the practice of economic activities of organizations and ...enterprises. One of the areas of digitalization is Big Data technology, which in many ways is already being used in the field of finance. However, for the effective use of big data in the practice of financial analysis of economic activity, it is necessary to solve a variety of significant problems. The article discusses the promising directions of using big data in financial analysis procedures, which, being integrated into the system of forming various management decisions, can significantly increase their efficiency. The necessary elements of the financial analysis system, which, first of all, should be focused on the use of big data, are considered, as well as aspects that, when using digital technologies, can provide the maximum effect.
Corporation financial analysis is crucial for accounting research, including background and environment, revenue and profit, different kinds of financial ratios. This paper will analyze Corn Products ...International, a corn refining and ingredient companies.
The scientific research study is about financial methodology analysis improving in the framework of forensic economic examination. The objective bankruptcy date is one of the issues within the ...forensic examination. The authors propose to supplement the classical financial analysis with a special section, which analyzes transactions for compliance with market conditions, identifies schematic and fictitious transactions, and also determines the degree of their impact on the occurrence of property insufficiency and signs of bankruptcy. The author's classification of possible schematic transactions, as well as methods for establishing the fact of compliance with the market situation are proposed. As the criterion for the maximum permissible deviations of transaction values from market values, it is proposed to use a value in an amount not exceeding the change in values by more than two times. The technical assets identified as a result of fictitious transactions are proposed to be deducted from the market value of assets when calculating the net assets of the organization, which will allow the most correct determination of the objective bankruptcy date.
Financial analysis is an analysis of an entity’s financial performance and position to assess its achievements and prospects, as well as, to provide the financial managers with quality up-to-date ...information that will help them make the right decisions in the future. The financial analysis concerns the forecasting, accounting, planning and control of certain economic activities. However, financial analysis is mainly linked to private sector entities. The issues of financial analysis of public sector entities in scientific work are addressed in a fragmented way. There is still a lack of not only scientific but also practical work to analyse the issues of financial analysis in the public sector.
The article presents a modified model for the financial analysis system, the analysis indicators to be applied and their combinations. In addition to traditional indicators, the presented system includes indicators of public interest and development. The system may be used for analysing the state of public sector entities. Its results may be useful for different users of information in making appropriate decisions.
Research object: the financial analysis of public sector entities. The purpose of the research is to establish a unified and modified model of the system for conducting the financial analysis of the public sector entities. Tasks: to describe the logical sequence of financial analysis after analysing and summarising the theoretical and practical aspects of the analysis of the financial position of public sector entities; to identify and group indicators for analysing the financial position of the public sector. Research methods: analysis of scientific works, methods of information grouping, comparing, detailing, generalizing.
A teoria do portfolio e um paradigma bem desenvolvido, e existem excelentes livros didaticos sobre o assunto, que fazem diferentes abordagens sobre o estudo de Markowitz. Diante disto, este artigo ...teve o objetivo de investigar as referencias existentes sobre teoria de portfolio. Para tanto, utilizou-se a analise bibliometrica para a investigacao. O resultado de citacao apontou a obra de Li e Ng (2000) como a referencia mais citada; o resultado de autoria apontou o autor Harry Max Markowitz como autor mais citado; a analise de palavras-chave sugere como tendencias as palavras que remetem ao artigo pioneiro de Markowitz, como risco, selecao e modelo. Os paises com mais referencias citadas sobre o tema sao Estados Unidos e China. Por fim, verificouse quais os caminhos mais utilizados em estudos sobre teoria de portfolio. Palavras-chave: Portfolio; markowitz; analise bibliometrica. Portfolio theory is a well-developed paradigm, and there are excellent textbooks on the subject that take different approaches to Markowitz's study. In light of this, this paper aimed to investigate the existing references on portfolio theory. To this end, bibliometric analysis was used for the investigation. The result of citation pointed to Li and Ng (2000) as the most cited reference; the result of authorship pointed to Harry Max Markowitz as the most cited author; the keyword analysis suggested as trends the words that refer to Markowitz's pioneering article, such as risk, selection and model. The countries with the most cited references on the subject are the United States and China. Finally, it was verified which are the most used paths in studies on portfolio theory. Keywords: Portfolio; markowitz; bibliometric analysis. La teoria de la cartera es un paradigma bien desarrollado, y hay excelentes libros de texto sobre el tema, que adoptan diferentes enfoques del estudio de Markowitz. A la luz de esto, este articulo pretendia investigar las referencias existentes sobre la teoria de la cartera. Para ello, se utilizo el analisis bibliometrico para la investigacion. El resultado de las citas senalo el trabajo de Li y Ng (2000) como la referencia mas citada; el resultado de la autoria senalo a Harry Max Markowitz como el autor mas citado; el analisis de palabras clave sugiere como tendencias las palabras que hacen referencia al articulo pionero de Markowitz, como riesgo, seleccion y modelo. Los paises con las referencias mas citadas sobre el tema son Estados Unidos y China. Por ultimo, se ha comprobado cuales son las vias mas utilizadas en los estudios sobre la teoria de la cartera. Palabras clave: Cartera; markowitz; analisis bibliometrico.
•Uncertainty in market prices drives financial outcomes.•Monte Carlo simulation allows uncertainty to be quantified.•Biochar-only production offers a potentially profitable venture.•Biofuel-biochar ...coproduction requires RINs to achieve financial success.
A comparative techno-economic analysis of two different thermochemical biomass conversion pathways was conducted to examine the effects of fuel price and other variables on project financial performance. Monte Carlo simulation was used to quantify the effects of uncertainty and volatility of ten critical variables: biofuel, biochar and feedstock prices, discount rate, capital investment, labor cost, loan terms, feedstock drying, and biofuel and biochar conversion rates. Market prices for biofuel and biochar have the largest impact on net present value (NPV) of any variable considered, due in part to the high levels of uncertainty associated with future prices of both. Across the ranges of input values for these variables in simulation analysis, hearth-based pyrolysis biochar production had the highest likelihood of profitability with a mean NPV of $41.5 million and only 20% of outcomes resulting in a net loss, while 68% of outcomes for auger-based biochar-biofuel coproduction represented a financial loss, including a mean NPV of -$24.2 million. However, when additional revenue from Renewable Identification Numbers (RINs) credits generated by biofuel production is considered, financial outcomes of biochar-biofuel coproduction improve to 50% likelihood of experiencing a net loss. Findings of the very strong impact of market prices on financial outcomes, relative to other important technical and economic variables, can inform effective targeting of future renewable energy policy, as well as the design of future techno-economic analyses, which do not currently focus on the effect of market prices on profitability.
•A renewable energy based system for oxygen/hydrogen co-production is proposed.•Financial analysis of water electrolysis plants for medical oxygen production.•On-site production of green ...oxygen/hydrogen in hospitals is investigated.•Oxygen threshold market prices are calculated assuming a break-even point of 15 years.•The system is profitable if oxygen market prices are 3 €/kg or higher.
As emphasised by the crisis caused by the COVID-19 pandemic, medical oxygen is an essential health commodity. The purpose of this study is the application of Renewable Energy Sources (RES)-based (photovoltaic-powered) water electrolysis plant for oxygen production in hospitals to self-produce the amount of oxygen they need, and – in particular – to define when this choice could be economically competitive with the current medical gas market. The proposed plant is able to produce oxygen and to store energy in hydrogen form at the same time, proposing a new approach in RES applications. Therefore, we calculated as a function of the hospital size (number of beds, up to 500) what should be the market price of oxygen above which the self-production of oxygen is economically profitable (assuming a break-event point of 15 years). Hydrogen is considered a by-product allowing to increase the system efficiency and supplying extra services. The results demonstrated that, assuming a selling price of 3 €/kg for the hydrogen (co)-produced by the plant, the on-site production of medical oxygen could be an interesting alternative compared to purchasing from the local gas resellers, if its market price is higher than 3–4 €/kg. Since this value is in line with current prices established for ex-factory oxygen by some national regulatory authorities (e.g., AIFA), we can conclude that the proposed RES-based electrolysis system is a green and economically feasible solution for oxygen production in hospitals, able also to increase hospital resilience against energy and oxygen shortage.
An empirical q-factor model consisting of the market factor, a size factor, an investment factor, and a profitability factor largely summarizes the cross section of average stock returns. A ...comprehensive examination of nearly 80 anomalies reveals that about one-half of the anomalies are insignificant in the broad cross section. More importantly, with a few exceptions, the q-factor model's performance is at least comparable to, and in many cases better than that of the Fama-French (1993) 3-factor model and the Carhart (1997) 4-factor model in capturing the remaining significant anomalies.
PDF
