Research

15 pages, 317 KiB

Open AccessArticle

Examining the Interactive Endogeneity Relationship between R&D Investment and Financially Sustainable Performance: Comparison from Different Types of Energy Enterprises

by Kalon Si, Xin Long Xu and Hsing Hung Chen

Energies 2020, 13(9), 2332; https://doi.org/10.3390/en13092332 - 07 May 2020

Cited by 10 | Viewed by 2510

Abstract

This paper employs the cluster analysis to classify the energy sector into three types, namely, technology-, capital-, and labor-intensive energy company. It then studies the interactive endogenous relationship between R&D investment and financially sustainable performance and the moderate effect of the executive incentive [...] Read more.

This paper employs the cluster analysis to classify the energy sector into three types, namely, technology-, capital-, and labor-intensive energy company. It then studies the interactive endogenous relationship between R&D investment and financially sustainable performance and the moderate effect of the executive incentive through three-stage least squares (3SLS) of the simultaneous equations model (SEM). The results show that for the technology-intensive energy company, an increase in the previous period in R&D investment improves the current period of financially sustainable performance, and the improvement in the current period in financially sustainable performance results in a decline in financially sustainable performance in the next period, which demands an increase in R&D investment subsequently. In contrast, for the capital-intensive energy company, R&D investment can significantly improve the financially sustainable performance in the current period, and the improvement in financially sustainable performance can also promote the intensity of next period R&D investment. For the labor-intensive energy company, R&D investment depends on the company’s previous period returns, while R&D investment has no significant impact on the financially sustainable performance in the current period and the next period. In addition, the salary incentives for executives have a significant positive moderate effect on the relationship between R&D investment and financially sustainable performance, especially in the technology-intensive energy company, while equity incentives for executives do not show any significant effect in the sample for different types of companies. Full article

(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency)

18 pages, 421 KiB

Open AccessArticle

Renewable Energy in Final Energy Consumption and Income in the EU-28 Countries

by Mihaela Simionescu, Wadim Strielkowski and Manuela Tvaronavičienė

Energies 2020, 13(9), 2280; https://doi.org/10.3390/en13092280 - 05 May 2020

Cited by 74 | Viewed by 4302

Abstract

The deployment of renewable energy sources (RES) is considered to be an important objective for the energy sector in the European Union (EU). The EU Directive adapted in 2009 fixed mandatory national targets for the use of renewable energy in transport as well [...] Read more.

The deployment of renewable energy sources (RES) is considered to be an important objective for the energy sector in the European Union (EU). The EU Directive adapted in 2009 fixed mandatory national targets for the use of renewable energy in transport as well as for the share of RES in the gross final energy consumption. Contrary to previous studies, this paper does not examine the link between the RES and economic growth but rather focuses on real gross domestic product (GDP) and the implementation of national renewable energy targets. We employ panel data models for the case of the EU-28 countries covering the period between 2007 and 2017 that yield a low and positive relationship between the impact of GDP per capita and the share of RES in the final consumption. Our results show that there is a significant causality only from real GDP per capita to the share of renewable energy in final consumption, marking the potential of developed countries to consume more RES. We list some groups of countries according to these variables using a cluster analysis approach. Starting from the proposed panel data models, we constructed the scenarios for the 2020 for various shares of RES and different EU Member States. Overall, it appears that more attention should be attributed to policy proposals in which funding opportunities would be dependent on the achievements of national targets and economic benefits should be given to countries with very good performance in achieving high shares of renewable energy in their final energy consumption. Full article

(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency)

► Show Figures

Figure 1

20 pages, 3993 KiB

Open AccessArticle

Energy Efficiency of Kazakhstan Enterprises: Unexpected Findings

by Yelena Petrenko, Igor Denisov, Gaukhar Koshebayeva and Valeriy Biryukov

Energies 2020, 13(5), 1055; https://doi.org/10.3390/en13051055 - 27 Feb 2020

Cited by 7 | Viewed by 2297

Abstract

The problems of efficient use of energy costs have been actively explored in recent decades in connection with rising energy prices. During this period, the main models for assessing energy efficiency and energy management were developed, including the models Total Quality Management, Six [...] Read more.

The problems of efficient use of energy costs have been actively explored in recent decades in connection with rising energy prices. During this period, the main models for assessing energy efficiency and energy management were developed, including the models Total Quality Management, Six Sigma and Sustainable Value Stream Mapping. The aim of the research was to study the energy efficiency of the production and services in Kazakhstan based on materials of the large-scale national study on the estimation of production and transaction costs by these methodologies. To assess the data obtained, a statistical analysis of the dependence on the indicators of variation and ranking was used. Electricity costs are among the leading manufacturing costs and affect management models. However, according to the maturity model of energy management, energy efficiency in Kazakhstan is low. Despite the government’s declarations of effective energy policies, the administrative burden for businesses remains high, and legislation does not stimulate a reduction in energy costs. Full article

(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency)

► Show Figures

Figure 1

19 pages, 1355 KiB

Open AccessArticle

The Peculiarities of Low-Cost Carrier Development in Europe

by Jolanta Sabaitytė, Vida Davidavičienė and Gerard Frederick Van Kleef

Energies 2020, 13(3), 639; https://doi.org/10.3390/en13030639 - 03 Feb 2020

Cited by 3 | Viewed by 4490

Abstract

Low-cost carriers (LCCs) have been growing by 11.4% in revenue passenger kilometers over 2017 and changed the airline industry radically. It drove down prices in the industry. Southwest Airlines (USA) designed the LCC blueprint model, and Ryanair copied it within Europe, followed by [...] Read more.

Low-cost carriers (LCCs) have been growing by 11.4% in revenue passenger kilometers over 2017 and changed the airline industry radically. It drove down prices in the industry. Southwest Airlines (USA) designed the LCC blueprint model, and Ryanair copied it within Europe, followed by other airlines. This research aims to fulfill the gap in contemporary research upon LCC successfulness in Europe by a description of the current situation within Europe (2018 and January 2019) and the development issues it faced, which are mapped by the Ishikawa fishbone diagram. Furthermore, to rank the airlines on strength and vulnerability, The Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) methodology was used for meeting LCC characteristics and airline success. By comparison of meeting the LCC characteristics and the rank of the successfulness, the results of the TOPSIS analysis showed that the airlines meeting the most LCCs characteristics are seemingly less vulnerable to the development issues that airlines are facing, as Wizz Air and Ryanair are meeting most characteristics and are the most successful. Concluded is that airlines meeting the most LCC characteristics are the least vulnerable to current issues. However, major disruptions can still form an issue and limit growth. This research can be useful for comparing and positioning airlines in the market, based on issues and operational choices. Full article

(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency)

► Show Figures

Figure 1

12 pages, 1145 KiB

Open AccessArticle

Pro-Environmental Energy Behavior in the Military: Assessing Behavior Change Factors at a Selected Military Unit

by Rasa Smaliukiene, Gintaras Labutis and Ausrius Juozapavicius

Energies 2020, 13(1), 219; https://doi.org/10.3390/en13010219 - 02 Jan 2020

Cited by 3 | Viewed by 2420

Abstract

The purpose of this study is to explore how pro-environmental energy behavior is manifested at a military unit and what behavioral change factors can enhance such behavior. The military unit represents an organization dominated by an exceptionally strong sense of community and belonging [...] Read more.

The purpose of this study is to explore how pro-environmental energy behavior is manifested at a military unit and what behavioral change factors can enhance such behavior. The military unit represents an organization dominated by an exceptionally strong sense of community and belonging where individual pro-environmental energy behavior goes in line with a collective one. The application of Capability-Opportunity-Motivation-Behavior (COM-B) approach led to a better understanding of energy-saving behavior in the military as an organization where personnel are trained to increase their awareness of their peers’ behavior. Methods: The results were obtained using data collected from two independent samples of both professional soldiers and conscripts at a military unit of Lithuanian defense forces located in a fixed installation in the time frame of 2018–2019. The total sample of respondents (professional soldiers and conscripts) was N = 454. A series of statistical tests were performed at the 0.05 level of confidence. Results: An extended COM-B model for the analysis of pro-environmental energy behavior in the military was proposed and applied. The results show that the three behavioral change factors—capability, opportunity, and motivation—are first of all positively linked with the collective energy behavior at the military unit and only then with the individual soldier’s pro-environmental energy behavior. This is a new insight into the COM-B model as collective and individual behavior are identified as separate indicators and then combined into a single measurable construct. In addition, the results indicate that in the military unit, communality plays an important role in sustaining pro-environmental energy behavior, even if an individual behavior indicates low-involvement. Full article

(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency)

► Show Figures

Figure 1

12 pages, 802 KiB

Open AccessArticle

Assessment of Green Investments’ Impact on Sustainable Development: Linking Gross Domestic Product Per Capita, Greenhouse Gas Emissions and Renewable Energy

by Serhiy Lyeonov, Tetyana Pimonenko, Yuriy Bilan, Dalia Štreimikienė and Grzegorz Mentel

Energies 2019, 12(20), 3891; https://doi.org/10.3390/en12203891 - 15 Oct 2019

Cited by 147 | Viewed by 10443

Abstract

The paper analyses the linkages between GDP per capita, greenhouse gas (GHG) emissions, and renewable energy (RE) in the total final energy consumption and green investments (PICE) which are measured as private investments, jobs, and gross value added related to circular economy sectors. [...] Read more.

The paper analyses the linkages between GDP per capita, greenhouse gas (GHG) emissions, and renewable energy (RE) in the total final energy consumption and green investments (PICE) which are measured as private investments, jobs, and gross value added related to circular economy sectors. The object of the analysis is the EU countries during the 2008-2016 period (crisis and post-crisis period). In the paper, data from the following databases was used: the Eurostat, the World Data Bank, and the European Environmental Agency. For addressing the linkages between the aforementioned indicators, the following methods were applied: panel unit root test, Pedroni panel cointegration tests, and the fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) panel cointegration techniques. The findings show that FMOLS and DOLS demonstrate the same results as GHG, PICE, RE influence on GDP of the EU countries. The findings prove there is linking between gross domestic product per capita, greenhouse gas emissions, renewable energy in the total final energy consumption and green investments. The findings also show that green investment (PICE) could provoke the growth of GDP per capita by 6.4%, the decline of GHG by 3.08%, and the increase of renewable energy in the total final energy consumption by 5.6%. Full article

(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency)

► Show Figures

Figure 1

14 pages, 708 KiB

Open AccessArticle

Assessing Business Risks of Natural Gas Trading Companies: Evidence from GET Baltic

by Mangirdas Morkunas, Gintaras Cernius and Gintare Giriuniene

Energies 2019, 12(14), 2647; https://doi.org/10.3390/en12142647 - 10 Jul 2019

Cited by 2 | Viewed by 2930

Abstract

The aim of this research is to distinguish business risks that affect natural gas trading companies operating in the liberalized natural gas market and to assess them according to the potential impact on the aforementioned gas trading companies. To achieve this, a study [...] Read more.

The aim of this research is to distinguish business risks that affect natural gas trading companies operating in the liberalized natural gas market and to assess them according to the potential impact on the aforementioned gas trading companies. To achieve this, a study of international scientific literature and empirical research was conducted, as well as the methods of expert survey, Analytical Hierarchy Process with different measurement scales and logical investigation. The research of the business risks of natural gas trading companies reflected that natural gas trading companies in the liberalized market distinguish in significantly different business risks’ portfolios from those that operate under monopoly conditions. It was also found that it is difficult to evaluate the business risks’ importance for the natural gas trading companies acting in liberalized markets because they characterize in a hierarchical structure, which means that they are prone to cascading effects. Full article

(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency)

► Show Figures

Graphical abstract

15 pages, 525 KiB

Open AccessArticle

Renewable Energy in the Electricity Sector and GDP per Capita in the European Union

by Mihaela Simionescu, Yuriy Bilan, Emília Krajňáková, Dalia Streimikiene and Stanisław Gędek

Energies 2019, 12(13), 2520; https://doi.org/10.3390/en12132520 - 30 Jun 2019

Cited by 58 | Viewed by 5371

Abstract

Considering that the European Directive has imposed that at least 20% of the total energy should come from renewable energy sources (RES) by 2020 already and the specific targets for each European Union Member State, this paper attempts to assess the importance of [...] Read more.

Considering that the European Directive has imposed that at least 20% of the total energy should come from renewable energy sources (RES) by 2020 already and the specific targets for each European Union Member State, this paper attempts to assess the importance of GDP per capita in realizing these targets and also the effects of the RES share in electricity. Contrary to previous research, this paper does not consider the connection between economic growth and RES, but rather the potential connection between the share of RES in electricity and the real GDP per capita. The panel data models indicated to a positive, but very low impact of GDP per capita on the share of RES in electricity in the period of 2007–2017 in the case of the EU countries, except Luxembourg that has outlier values of GDP per capita. However, causality between the two variables was not identified. Some groups of countries were described according to these variables using cluster analysis. Future research should focus on the extension of this model by including other important variables such as RES potential available in the countries with specific geographical conditions. Full article

(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency)

► Show Figures