|
on Project, Program and Portfolio Management |
| By: | Carleton, Tamara; Cockayne, William |
| Abstract: | A rise of government funding agencies dedicated to radical innovation has occurred in recent years. When launching bold and ambitious programs marked by radical uncertainty and unknowable outcomes, how do innovation-funding organizations deliberately provoke risk-taking behavior in potential applicants? This study focuses on the interplay between risk perception and decision making for deliberate high-risk decisions. We compare the language used in 81 public funding calls and new program solicitations from four US government funding entities, which comprise DARPA (Defense Advanced Research Projects Agency), the Defense Innovation Unit, the NASA Innovative Advanced Concepts program, and ARPA-H. A list of potential signal phrases was derived, indicating a spectrum of corresponding risk levels for an innovation opportunity. A survey with 92 evaluators validated that certain keywords served as provocations to trigger risk taking in the pursuit of transformative breakthroughs and frontier science. Our work contributes to a lexicon of signal phrases for provoking and communicating innovation, especially for far-reaching programs. More broadly, understanding the impact of language on decision making under high-risk conditions can inform national innovation policy and strategy for other funding organizations seeking to induce scientific and technological advancement in the United States and globally. |
| Date: | 2025–01–20 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:aqgf8 |
| By: | Jan Schymik; Matthias Meier; Alexander Schramm; Alexander Schwemmer |
| Abstract: | This paper studies how managerial pay shapes the allocation of capital within firms. We leverage quasi-experimental variation in the composition of managerial pay between cash bonuses and equity compensation. We find that a relative increase in cash bonuses leads firms to reallocate capital toward less durable investment projects. To rationalize the empirical evidence, we develop a quantitative model with agency frictions. In the model, a relative increase in cash bonuses strengthens managerial short-termism, which shifts the investment composition toward less durable projects. The observed change in managerial pay exacerbates within-firm capital misallocation and leads to a sizeable contraction in output. |
| Keywords: | Investment, Firms, Managerial Pay, Capital Misallocation. |
| JEL: | D25 E22 E32 G31 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2025_637 |
| By: | Yash Chawla; Katarzyna Chojnacka; Michal Paca; Anna Pudelko; Przemysław Zaleski; Rafal Weron |
| Abstract: | The widespread adoption of selective kitchen and garden waste processing in closed biogas plants is often hindered by financial feasibility and social acceptance. This study presents a comprehensive cost-benefit analysis of waste processing through wet and dry fermentation, evaluating energy recovery options from combined heat and power and compressed natural gas installations. Drawing on data from a Polish investment project and a novel concept in waste management research – a survey of professional energy forecasters, we provide financial projections until 2035 to guide sustainable decision-making. Our results emphasize the economic viability of bio-based energy recovery technologies, while also highlighting the potential social and environmental benefits. By diverting waste from landfills and recovering energy, biogas plants contribute to both energy transition goals and the broader objectives of sustainable waste management, including improved resource efficiency and reduced reliance on fossil fuels. This study offers practical insights for municipalities and businesses, promoting policies that support public-private partnerships and the long-term viability of renewable energy projects within the circular economy framework. |
| Keywords: | Municipal solid waste; Biogas plant; Cost-benefit analysis; Professional forecasters survey |
| JEL: | C22 C51 C53 Q41 Q47 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ahh:wpaper:worms2501 |
| By: | Ibourk Mouad (Faculté Polydisciplinaire de Khouribga); Saïd Sghir (Faculté Polydisciplinaire de Khouribga - Université Hassan Premier) |
| Abstract: | Since the beginning of the 21st century, Morocco has undertaken an ambitious strategy to transform its major cities and enhance their competitiveness. Territorial marketing lies at the heart of this initiative, aiming to attract investments, improve citizens' quality of life, and promote a strong local identity. Casablanca, as the economic capital of the kingdom, embodies this vision through a series of iconic large-scale urban projects. The methodology used in this study combines several complementary approaches. First, a literature review establishes a robust theoretical framework, analyzing the connections between urban planning and territorial marketing. Next, three case studies are examined in depth: Casa Anfa, evaluated for its integrated strategy blending real estate, green spaces, and finance; the Casablanca tramway, analyzed for its role in modernizing public transport and structuring urban mobility; and the Aïn Diab Corniche, assessed as a lever for enhancing tourist appeal and improving living conditions. These analyses are underpinned by qualitative and quantitative data collected from official reports, field observations, and documentary reviews. The results of this research highlight that these major urban projects address the needs of a growing population while attracting both national and international investors. They contribute to modernizing Casablanca's image, diversifying its functions, and improving its quality of life. As an innovative and sustainable metropolis, Casablanca positions itself as a key player in regional and international urban transformation. These findings demonstrate Casablanca's ability to embed territorial marketing principles into its development strategy, emphasizing the critical role of large urban projects in bolstering the city's competitiveness and sustainability. |
| Abstract: | Depuis le début du XXIe siècle, le Maroc s'est engagé dans une stratégie ambitieuse visant à transformer ses grandes villes et renforcer leur compétitivité. Le marketing territorial a été placé au centre de cette dynamique, avec pour objectifs d'attirer les investissements, d'améliorer le cadre de vie des citoyens et de promouvoir une identité locale forte. Casablanca, en tant que capitale économique du royaume, incarne parfaitement cette vision à travers un ensemble de grands projets urbains emblématiques. La méthodologie adoptée dans cette étude repose sur plusieurs approches complémentaires. Tout d'abord, une revue de la littérature établit un cadre théorique solide en explorant les liens entre urbanisme et marketing territorial. Ensuite, trois études de cas spécifiques sont approfondies. Casa Anfa est analysée pour sa stratégie intégrée, combinant immobilier, espaces verts et finance. Le tramway de Casablanca est étudié pour son rôle dans la modernisation des transports publics et la structuration de la mobilité urbaine. La Corniche d'Aïn Diab est examinée en tant que levier d'attractivité touristique et d'amélioration du cadre de vie. Ces analyses s'appuient sur des données qualitatives et quantitatives collectées à partir de rapports officiels, d'observations sur le terrain et d'analyses documentaires. Les résultats de cette étude montrent que ces grands projets urbains répondent aux besoins d'une population en expansion tout en attirant des investisseurs à l'échelle nationale et internationale. Ils contribuent à moderniser l'image de Casablanca, diversifier ses fonctions et améliorer son cadre de vie. En se positionnant comme une métropole innovante et durable, Casablanca joue un rôle clé dans la transformation urbaine régionale et internationale. Ces initiatives démontrent la capacité de Casablanca à intégrer les principes du marketing territorial dans sa stratégie de développement, mettant en lumière le rôle central des grands projets urbains dans la compétitivité et la durabilité de la ville. |
| Keywords: | Major urban project, urban project, territorial marketing, marketing, competitiveness, brand image, territory, Morocco, Casablanca, attractiveness, Grand projet urbain, projet urbain, marketing territorial, compétitivité, attractivité, image de marque, territoire, Maroc |
| Date: | 2024–12–24 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04856005 |
| By: | Christian Morabito,; Miguel Niño-Zarazúa |
| Abstract: | Persistent economic and social inequalities constrain the inclusive development of nations. The internationally agreed Sustainable Development Goal 10 (SDG10) and its targets, aim to address these constraints through the promotion of equalising policies. This paper tests the validity of the Inequality Marker and Distributional Impact Assessment (DIA) tools that have been developed to assess the contribution of development projects to inequality reduction using as case studies four AFD and European Commission funded projects in Benin, Djibouti-Ethiopia, Uganda, and Vietnam. The DIA analyses have been carried out in two cases: in Benin (ex-post) and Uganda (ex-ante). Overall, the study shows how the Inequality Marker and DIA methodology can provide relevant information on the potential contribution of development projects to inequality reduction. The study identifies critical issues for the implementation of the DIA analysis that reflect both organisational constraints in donor agencies internal procedures, and external contextual factors. The study also provides a set of policy recommendations to mitigate these threats. |
| Keywords: | Bénin, Djibouti, Éthiopie, Ouganda, Vietnam |
| JEL: | Q |
| Date: | 2025–01–28 |
| URL: | https://d.repec.org/n?u=RePEc:avg:wpaper:en17833 |