nep-ppm New Economics Papers
on Project, Program and Portfolio Management
Issue of 2015‒12‒01
five papers chosen by
Arvi Kuura
Tartu Ülikool

  1. Determinants of the efficiency of CDM and JCM projects: Viewing from financial and environmental outcomes By Mai Huong Hoang; Mohammad Tazul Islam; Michiyuki Yagi; Katsuhiko Kokubu
  2. Improve the Economics of your Capital Project by Finding its True Cost of Capital By Schmal, Tom
  3. A Governança Metropolitana da Mobilidade: uma análise a partir dos estados By Vicente Correia Lima Neto; Rômulo Dante Orrico Filho
  4. Lessons for Japanese foreign aid from research on aid.s impact By Jisun Yi
  5. Problems of financing SMEs in Ghana: a case study of the Sunyani Municipality By Prempeh, kwadwo Boateng

  1. By: Mai Huong Hoang (Graduate School of Business Administration, Kobe University); Mohammad Tazul Islam (Graduate School of Business Administration, Kobe University); Michiyuki Yagi (Graduate School of Business Administration, Kobe University); Katsuhiko Kokubu (Graduate School of Business Administration, Kobe University)
    Abstract: With the purpose of promoting clean development in developing countries, as well as increasing mitigation toward global warming issue, efforts have been made between government and companies through implementing Clean Development Mechanism and Joint Credit Mechanism projects. This study targets at identifying the determinants of the financial and environmental outcomes of CDM and JCM pilot projects, focusing on host party, project type, and project status. The CDM project data is collected for 11 years (2004 – 2014) from the Institute of Global Environmental Strategies whereas the JCM pilot project data covers 2 years (2013 – 2014) from Global Environment Centre Foundation. Result of this study shows that regarding JCM pilot projects, project type is a crucial determinant for environmental outcome. Meanwhile, regarding CDM projects, statistically significant determinants of environmental outcome are host party, project type, and project status. In terms of CDM financial outcome, only project type and project status show significant effects. It implies that there is no need for considering which country to implement CDM projects if the target is financial outcome. Instead of that, if aiming at projects’ environmental outcome, for either CDM or JCM, it is necessary for companies to take project type/ sector into consideration.
    Keywords: Clean development mechanism; Joint crediting mechanism; Internal Rate of Return; greenhouse gas emissions; country and industry effects
    JEL: F21 O13 Q54
    Date: 2015–11
  2. By: Schmal, Tom
    Abstract: Evaluating the risk behind capital projects can be one of management’s toughest calls. One reason is project risks are presented subjectively or as a metric without a practical relationship to return. The author addresses the problem by using a Monte Carlo simulation to find a project’s risk and uses that metric to find the project’s cost of capital. In this system, risk is determined by variation in free cash flow. Since every project in your company’s pipeline will have a free cash flow, every project, including those with financial leverage, can be evaluated using the same economic yardstick. Other benefits include better value projects, better presentation and accurate discount rates for NPV.
    Keywords: cost of capital, IRR, NPV, cash flow, Monte Carlo, capital project economics, risk-adjusted return, M-P5, variability, pure play, leverage, hurdle rate.
    JEL: D81 G32
    Date: 2015–11–26
  3. By: Vicente Correia Lima Neto; Rômulo Dante Orrico Filho
    Abstract: O transporte público consiste em uma função pública de interesse comum (Fpic), sendo base constitucional para a formulação de regiões metropolitanas (RMs) por parte da entidade de governo estadual. Este texto desenvolve uma análise crítica a partir de diversos relatórios estaduais do projeto Governança Metropolitana para quatorze RMs brasileiras, com base em quatro fatores: i) legalidade do serviço; ii) uso do consórcio público como arranjo de governança; iii) presença de planos de mobilidade nos âmbitos metropolitano e municipal; e iv) distribuição de recursos do Programa de Aceleração do Crescimento (PAC). As experiências apontam evidências de possíveis soluções. Os casos de maior organização e sistematização da gestão do transporte metropolitano decorrem de um estado mais presente no planejamento desta função, estruturando instrumentos de planejamento e coordenando o processo de coesão dos municípios The public transportation is known as a public service of common interest and it is the constitutional basis for the formulation of metropolitan areas by the states governments. This article develops a critical analysis from fourteen Brazilian metropolitan regions reports of the Metropolitan Governance project. The appraisal is based on four factors: the legality of the service, the use of public consortium as a governance arrangement, the presence of mobility plans at metropolitan or municipal level and the distribution of funds from the Brazilian`s Growth Acceleration Program. The cases shows evidence of possible solutions. The best cases of the metropolitan transport management processes are related with a more present state in the metropolitan transportation planning, helping with the structuring planning tools and coordinating the process of cohesion of the municipalities.
    Date: 2015–11
  4. By: Jisun Yi
    Abstract: This study aims to provide a neo-institutional explanation of why South Korea increasingly intends to share its developmental experience with the rest of the world. South Korea.s knowledge sharing projects are the leading example of expansionary and self-defining efforts of its aid administration. By analysing the aid policy-making process, this paper explores the inside dynamics of an emerging donor government.pinpointing why aid bureaucracy stands at the centre of the rise of the knowledge dimension. This research highlights the particular statist major bureaucratic discourse and momentum behind the aid expansion. that appears to be neither necessarily strategic nor coherent.
    Keywords: aid bure bureaucracy, knowledge sharing, agency problem, emerging donor, state developmentalism
    Date: 2015
  5. By: Prempeh, kwadwo Boateng
    Abstract: Small and medium enterprises play an important role in the development of a country. The growth of SMEs is also important for the world economy which has been widely discussed in recent years. Although the problems SMEs face in accessing finance are well known, still there are some research gaps that need to be filled. The main focus of this research is to explore the nature and the characteristics of SMEs together with the financial constraints facing the SMEs. Basically the research focuses on Sunyani Municipality as the main area of study, but it will also cover the problems of SMEs for the other parts of the world under the same main purpose of this research. The research is a case study. Moreover, the nature of data collected for this project is both quantitative and qualitative. Questionnaires and interviews are the main tools for collecting data. Relevant literature is also reviewed. The Researcher has concluded that many studies have shown most of the SMEs lack access to finance for starting, operating and expanding their businesses, therefore access to finance is always quoted as a major constraint for all SMEs and can seriously affect their ability to survive, upgrade the technology in their business, increase their capacity and even in many cases, expand their market, improve management system or increase productivity as well as profitability. The findings will assist policy makers, development agencies, SME owners and financial institutions to ascertain the appropriate strategy to improve the SME financing.
    Keywords: SMEs, Sunyani Municipality, Venture Capital fund, SME financing
    JEL: M00 M1 M10 M13
    Date: 2015–01–04

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