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21 – 30 of over 50000Veena Madaan and Monica Shrivastava
This paper investigates herding behavior and its persistence among foreign institutional investors (FIIs) in the individual stocks of the energy sector of Indian stock exchange by…
Abstract
Purpose
This paper investigates herding behavior and its persistence among foreign institutional investors (FIIs) in the individual stocks of the energy sector of Indian stock exchange by focusing on post turmoil period. The study also examines the relation of herding with the individual return, market return, trading volume and conditional volatility of individual and market return.
Design/methodology/approach
The presence of herding is investigated by Lakonishok et al. (1992) model, value-based and count-based herd ratio measure among FIIs in individual stock of energy sector post turmoil period. Further, run test was employed to check the persistency in herding and multivariate distributed lag to investigate the relationship with the market determinant.
Findings
The result indicates the existence of herding in most of the companies and strong persistence in all the companies. The intensity of buy side herding is higher than sell side. Herding and individual return both are significant driving forces of FIIs herding, while trading volume and market volatility in few companies exhibit inverse relationship.
Research limitations/implications
This study is limited to investigation of energy sector stock.
Social implications
Stock market is significantly influenced by FIIs and their propensity to herd may generate instability in the stock market. Therefore, regulatory authority should continuously monitor the flow of fund by FIIs.
Originality/value
Herding in the individual stock of the energy sector was not previously performed.
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De-Graft Owusu-Manu, Thomas Kankam Adjei, David Mensah Sackey, David John Edwards and Reza M. Hosseini
This paper is anchored in a premise of a universal call to action by all UN member states in 2015 to end poverty, protect the planet and ensure that all people enjoy peace and…
Abstract
Purpose
This paper is anchored in a premise of a universal call to action by all UN member states in 2015 to end poverty, protect the planet and ensure that all people enjoy peace and prosperity by 2030 within the blueprint of the sustainable development goals (SDGS). The purpose of this study is to mainstream the SDGs in Ghana’s energy sector within the framework of public–private partnerships (PPP): challenges, opportunities and strategies.
Design/methodology/approach
Literature review was carried out to explore concepts, theories and frameworks for initiating PPP. Best local and international practices in the implementation of PPP projects; challenges and opportunities in the implementation of PPP projects, strategies for mainstreaming the SDGs in Ghana’s energy sector and assess business action in the implementation of the SDGs in Ghana’s energy sector. The study is situated within the social constructionist philosophical tradition. The qualitative research strategy was adopted as the main methodological choice. Interview guides were used to collect data from respondents in the Accra metropolis.
Findings
Lack of a PPP policy law in Ghana, conflict of interest in PPP projects, excessive government control over projects, cumbersome licensing and legal regime and economic stability were the most significant challenges identified to PPPs. Technology transfer, efficiency gains and mobilization of additional resources for development on the government side where the opportunities for the private sector. Awareness creation, modeling inclusive business with corporate social responsibility (CSR) and SDGs, exploring business opportunities in SDGs such as carbon trading, aligning national policies with SDGs, establishing sustainability units and partnerships with relevant bodies were proposed for mainstreaming the SDGs in Ghana’s energy sector.
Research limitations/implications
It was established from this study that indeed PPPs have a major role to play in unleashing all available forces and prospects toward achieving the SDGs. This paper is constrained to the energy industry in Ghana. It provides a theory-based direction on how companies in the energy sector can contribute to social and economic interventions through a framework of PPP framework within the SGDs. Future research may explore how companies in other sectors may contribute to the sustainability discourse.
Practical implications
This will ultimately lead to additional funding to support government efforts in the implementation of SDGs, honing of sustainable (inclusive) business models, creating an enabling environment for PPPs toward inclusive growth and national development leaving no one behind. It recommended that there should be a national policy and law on PPPs and the private sector should be incentivized to engage government in PPPs implementation for the SDGs. Theoretically, this study contributes to the policy analysis discourse and scaling-up literature on the SDGs.
Originality/value
This study explores the challenges associated with mainstreaming the SGDs in the energy sector from a public–private business perspective. It also offers a new policy, economic and legal regulatory framework that contributes to emerging trends. The outcome of the analyzes advocates for clear business strategies for implementation of the SDG apart from CSR.
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Chukwunonso Ekesiobi, Stephen Obinozie Ogwu, Joshua Chukwuma Onwe, Ogonna Ifebi, Precious Muhammed Emmanuel and Kingsley Nze Ashibogwu
This study aims to assess financial development and debt status impact on energy efficiency in Nigeria as a developing economy.
Abstract
Purpose
This study aims to assess financial development and debt status impact on energy efficiency in Nigeria as a developing economy.
Design/methodology/approach
This study combined the autoregressive distributed lag (ARDL), fully modified ordinary least squares and canonical cointegration regression analytical methods to estimate the parameters for energy efficiency policy recommendations. Secondary data between 1990 and 2020 were used for the analysis.
Findings
The result confirms the long-run nexus between energy efficiency, financial development and total debt stock. Furthermore, the ARDL estimates for this study’s key variables show that financial development promotes energy efficiency in the short run but hinders long-run energy efficiency. Total debt stock limits energy efficiency in Nigeria in short- and long-run periods.
Research limitations/implications
The limitation of this study is that the scope is limited to Nigeria as a developing economy. The need to support energy efficiency projects is a global call requiring cross-country analysis. Despite this study’s focus on Nigeria, it provides useful insights that can guide energy efficiency policy through the financial sector and debt management.
Practical implications
The financial sector must ensure the availability of long-term credit facilities to clean energy investors. The government must maintain a sustainable debt profile to pave the way for capital expenditure on clean energy projects that promote energy efficiency.
Originality/value
The environmental consequences of energy intensity are being felt globally, with the developing countries most vulnerable. The cheapest way to curb these consequences is to promote energy efficiency to reduce the disastrous effect. Driving energy efficiency requires investment in energy-efficient technology but the challenge for developing economies, i.e. Nigeria’s funding, remains challenging amid a blotted debt profile. This becomes crucial to investigate how financial sector development and debt management can accelerate energy-efficient investments in Nigeria.
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Jan Stentoft, Ram Narasimhan and Thomas Poulsen
To support ongoing industry efforts to reduce the cost of energy (CoE) of offshore wind compared to other types of energy sources, researchers are applying scientific models and…
Abstract
Purpose
To support ongoing industry efforts to reduce the cost of energy (CoE) of offshore wind compared to other types of energy sources, researchers are applying scientific models and thought processes to identify potential areas of improvement and optimization. This paper aims to introduce a conceptual framework from a supply chain management (SCM) perspective, aimed at promoting the reduction of CoE in the offshore wind energy industry.
Design/methodology/approach
Using conceptual arguments from current academic literature in SCM, a comprehensive framework is presented that clarifies how SCM practices can be used by offshore wind energy industry to reduce CoE.
Findings
The offshore wind energy sector is a young industry that must reduce CoE to compete with other forms of energy. Applying a supply chain perspective in the offshore wind industry has hitherto been limited to the academic community. This paper offers a SCM framework that includes three interdependent aspects of reducing CoE – innovation, industrialization and supplier partnering – to guide the industry towards sources to reduce CoE.
Research limitations/implications
SCM is a broad research area; thus, the presented framework to reduce the CoE is open for further development.
Practical implications
The paper provides insights into how the CoE can be reduced through innovation, industrialization and partnering in the offshore wind energy supply chain.
Originality/value
The paper offers a seminal contribution by introducing a SCM framework to understand sources and approaches to reduce CoE in the offshore wind energy industry.
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This study aims to explore the underlying motivation of companies in the energy sector for publishing corporate social responsibility (CSR) reports; is it to inform about their…
Abstract
Purpose
This study aims to explore the underlying motivation of companies in the energy sector for publishing corporate social responsibility (CSR) reports; is it to inform about their strong corporate social performances (CSP) or to seem as committed to CSR matters although they are not?
Design/methodology/approach
The panel data of the energy and energy utility companies from the Brazil, Russia, India and China (BRIC) countries were analysed by panel logistic and panel ordered logistic regression methods.
Findings
The main results based on the panel data analyses of the energy and energy utility companies from the BRIC countries reveal that publishing a CSR report as per an international framework, Global Reporting Initiative framework for this study, is a signal for a strong CSP. The results also show that the quality of CSR reports is positively associated with the CSP of the companies.
Practical implications
The positive correlation between the existence and quality of CSR reports and CSP identified in this study provides evidence for the credibility of CSR reports and hence forms the basis for the suggestion of the usage of CSR report as a reliable tool to assess the sustainability of the energy sector and emerging markets as well.
Originality/value
This study contributes to the limited literature on the nexus between CSR reporting and CSP for environmentally sensitive industries in emerging markets and enriches the knowledge by investigating overall CSP as well as its three pillars, namely, environmental, social and governance performance.
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Tugrul U. Daim, Ibrahim Iskin and Daniel Ho
The purpose of this paper is to forecast the performance and adoption of residential energy management technology (REMT).
Abstract
Purpose
The purpose of this paper is to forecast the performance and adoption of residential energy management technology (REMT).
Design/methodology/approach
The paper integrates scenarios, analogy and Bass diffusion model.
Findings
Four different scenarios were identified. Bass curve parameters were extracted through many different existing devices, and then fit into each scenario subjectively to produce four different kinds of diffusion curves.
Originality/value
The approach and the model provide decision and policy makers to evaluate how they should position new energy management innovations based on the desired type of diffusion.
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Paul Adjei Kwakwa, Solomon Aboagye, Vera Acheampong and Abigail Achaamah
The desire for a sustainable environment has led to the need to reduce carbon dioxide emissions and increase renewable energy usage. Empirical evidence generally shows that…
Abstract
Purpose
The desire for a sustainable environment has led to the need to reduce carbon dioxide emissions and increase renewable energy usage. Empirical evidence generally shows that financial development has a significant effect on these two variables. However, little is known about how the financial strength of financial institutions influences them in the fight against climate change. This study aims to assess the effect of the financial strength of listed financial institutions on renewable energy consumption and carbon dioxide emissions in Ghana.
Design/methodology/approach
Regression analyses were used to estimate the effect of asset quality, credit management, return on equity/asset and firm size on renewable energy consumption and carbon dioxide emissions for data covering from 2009 to 2018.
Findings
The results revealed that return on equity reduces renewable energy consumption and increases carbon dioxide emissions. It is also found that credit risk management and asset quality positively influence renewable energy consumption but reduce carbon dioxide emissions in Ghana.
Practical implications
Policymakers need to identify profitable but less polluting ventures and draw the attention of financial institutions in the country. This may cause banks and other lending-giving institutions to desist from giving credits to support environmentally harmful ventures.
Originality/value
The paper assessed the effect that the financial strength of financial institutions has on renewable energy consumption and carbon dioxide emissions.
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Andrii Skrypnyk, Nataliia Klymenko, Semen Voloshyn, Olha Holiachuk and Oleksandr Sabishchenko
The purpose of this paper is to develop a methodology for assessing the effects of global and regional externalities that create traditional power generation industries and to…
Abstract
Purpose
The purpose of this paper is to develop a methodology for assessing the effects of global and regional externalities that create traditional power generation industries and to propose a transition to a tariff strategy taking into account these consequences. The main purpose of the research is to analyze the current wholesale electricity tariffs in the energy market of Ukraine and propose their assessment taking into account external effects for other sectors of the economy.
Design/methodology/approach
At the first stage, according to observations for 2004–2019 on the amount of pollution and the cost of agricultural products in some regions of Ukraine, which is provided in 2010 prices, the impact of hazardous emissions on the cost of agricultural products was analyzed in each region. The use of panel regression allowed to combine spatial and temporal studies (12 separate areas and time interval 2004–2019). To assess the external effects of heat generation, panel regression was used, which made it possible to combine spatial and temporal data on the impact of pollution on the efficiency of agricultural production and add regional losses of agricultural business to the cost of heat generation. This paper uses optimization models to maximize the function of public utility of electricity generation, making allowances for externalities.
Findings
This research assesses the negative externalities of Ukraine's energy and confirms the need for a global transition to a low-carbon economy primarily through climate finance. The analysis revealed the presence of various influences of the factor of regional air pollution and time. The hypothesis of the existence of a negative impact of local air pollution on agricultural production has been confirmed. An increase in emissions by 1,000 tons leads to an average decrease in regional agricultural production by UAH 84 million (at the prices of 2010).
Originality/value
The optimization problem of the ratio of different types of generation is set on the basis of maximizing the function of social utility of electricity generation, taking into account external effects. The authors presented an optimization model of electricity generation, which corresponded to the state of the energy market for 2019, provides an opportunity to assess the contribution of the inverse external effects of each electricity sector and to estimate external tariffs for each electricity generation sector.
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Ehsan Marzban, Armin Firoozpour and Mostafa Marzban
Energy systems are quickly in transition and their complexity has been dramatically increased. Although there are numerous studies and researches about future of energy in terms…
Abstract
Purpose
Energy systems are quickly in transition and their complexity has been dramatically increased. Although there are numerous studies and researches about future of energy in terms of technology or fuels, few studies have been done based on comprehensive socio-technical dimensions of energy systems’ futures. One key question to fill this gap is that how can we consider electricity as a sustainable common good/resource, beyond some conventional considerations related to public or private sector orientation? The purpose of this study is to find an acceptable answer for this question..
Design/methodology/approach
To achieve the purpose of this study, after reviewing some relevant studies, key effective factors on the future of energy have been recognized in an expert panel and structurally analyzed by Micmac software based on cross-impact analyze method. Thereafter, four scenarios for transforming the electricity distribution from a monopoly good to a common resource have been developed and described based on scenario workshops method..
Findings
Four scenarios for transforming the electricity distribution from a monopoly good to a common resource have been developed and described. These scenarios include “spider grid,” “local grid,” “intermediate grid” and “off-grid.” Furthermore, different dimensions of electricity as a common good/resource have been investigated. As a result, the authors find out that common resource is a creatable concept that can be referred to some goods depending on certain conditions.
Originality/value
Electricity, like any other resource with common characteristics, can be considered and treated as a common resource, depending on the way we generate, share and distribute it, ownership and property rights, management and decision-making mechanisms, social participation processes and governance criteria.
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Obadia Kyetuza Bishoge, Lingling Zhang, Witness Gerald Mushi and Nametso Matomela
This paper aims to analyze the context of community opinions and participation in the natural gas sector in developing countries, a case study of Tanzania. To achieve this…
Abstract
Purpose
This paper aims to analyze the context of community opinions and participation in the natural gas sector in developing countries, a case study of Tanzania. To achieve this purpose, the study pointed out six facts, namely, information on the natural gas sector; awareness of the natural gas-related policies; laws and regulations and the creation of employment opportunities; local experts in the natural gas sector; the use of natural gas revenues; and natural gas for poverty reduction and improvement of social well-being.
Design/methodology/approach
The study is a systematic review of the literature on community participation based on the relevant studies published between 2010 and 2018. A comprehensive literature review was carried out following the seven-step model whereby relevant themes from different potential bibliographic databases such as Google Scholar were systematically selected, compiled and analyzed using descriptive methods.
Findings
The study revealed that despite the various efforts made by the governments and other stakeholders to promote community participation, there is an inadequate level of community participation in the natural gas sector in developing countries. There are limited local experts for natural gas operations and low transparency on natural gas contracts, agreements and revenues. Therefore, there is the need to raise awareness for a highly informed society with a clear sense of ownership of the natural gas wealth among the local communities. Moreover, transparency and accountability are recommended for the sustainable natural gas sector development.
Originality/value
This paper offers new and current cross-sectoral inclusion, opinions, hopes and concerns of the community on the natural gas sector management in developing countries.
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