Special Issue "Innovation in Business and Energy Systems"

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Business and Entrepreneurship".

Deadline for manuscript submissions: 1 September 2022 | Viewed by 2504

Special Issue Editor

Prof. Dr. David Gautschi
E-Mail Website
Guest Editor
Gabelli School of Business, Fordham University, 140 W62nd Street, New York, NY 10023, USA
Interests: business and energy; innovation in business and energy systems; the economics of services; the purpose of business

Special Issue Information

Dear Colleagues,

This Special Issue focuses on the broad topic of “Innovation in Business and Energy Systems”. As energy is in everything, to achieve some degree of focus, the Special Issue will be anchored on the role of business in energy transitions. Hence, research addressing a broad array of topics would include novel challenges to conventional energy systems and public policies, the framing and analysis of transition paths to alternative energy futures, the economic assessment of proved energy technologies that have yet to have been commercialized, the risks and opportunities associated with matching energy systems to a variety of geographical and political contexts, as well as recasting the decision calculus of the so-called “non-energy” firm to include energy consequences of its choices, for example.

Considering the significant global concern about climate change and consequences associated with energy choice and energy systems, we seek submissions that present both theoretical and empirical articles that will provoke a broad debate around the role that business enterprise may play in addressing climate change. Questions of energy choices and energy systems for valuation, business risk, and market opportunities facing business are central to such a discussion. Energy storage alternatives to batteries, managing the energy waste stream, shifting benefits and costs of energy generation across the market, methods to modify energy use, innovation in infrastructures, and business-state partnerships are welcome.

Contributions focusing on the multidimensional business of energy systems, on novel measures of financial and business risk addressing energy choice, and on the use of smart systems to monitor and control energy generation, distribution, and use are encouraged.

Prof. Dr. David Gautschi
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1200 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Product innovation in energy
  • Systems innovation in energy
  • Energy transition risk
  • Hedging and climate change scenarios
  • Business opportunity in the energy waste stream
  • Optimization of energy supply chains
  • Optimization of multi-resource energy systems
  • Simulation and alternative energy futures
  • Energy risk management
  • ESG, greenwashing, perceptions, and business risk
  • Contextual variability of energy supply and demand
  • Volatility of energy supply and demand

Published Papers (3 papers)

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Research

Article
Strategy and Practice for Sustainability in Businesses in the Middle East and North Africa in a Global Perspective
J. Risk Financial Manag. 2022, 15(7), 277; https://doi.org/10.3390/jrfm15070277 - 23 Jun 2022
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Abstract
A business may adopt a strategy for sustainability and may implement its strategy in its practice. Our question is, how are strategy and practice coupled and shaped by entrepreneurs and businesses embedded in national eco-systems in the Middle East and North Africa and [...] Read more.
A business may adopt a strategy for sustainability and may implement its strategy in its practice. Our question is, how are strategy and practice coupled and shaped by entrepreneurs and businesses embedded in national eco-systems in the Middle East and North Africa and around the world? Businesses were randomly sampled and surveyed in 2021, and national conditions were assessed by experts in ten countries in the Middle East and North Africa and in Spain and other countries around the world, as part of the Global Entrepreneurship Monitor. Strategy and practice are found to have a loose coupling but are tighter in the Middle East and North Africa than in Spain. Strategy is promoted by support from businesses and governments, but support depends on national wealth. Strategy and practice by entrepreneurs and businesses are promoted by the entrepreneurs’ human and social capital and the value of making a difference in the world and continuing a family tradition. Findings contribute to understanding business engagement with sustainability, specifically in the Middle East and North Africa, as compared to Spain and in a global perspective. Full article
(This article belongs to the Special Issue Innovation in Business and Energy Systems)
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Article
What If? Electricity as Money
J. Risk Financial Manag. 2022, 15(4), 168; https://doi.org/10.3390/jrfm15040168 - 07 Apr 2022
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Abstract
Responding to the influences of climate change, on the one hand, and selected benefits of digital technology, on the other hand, an energy transition of global scale appears to be underway. Many observers project that a significant element of the energy transition will [...] Read more.
Responding to the influences of climate change, on the one hand, and selected benefits of digital technology, on the other hand, an energy transition of global scale appears to be underway. Many observers project that a significant element of the energy transition will be a growing dependence on electricity, a dependence possibly doubling by 2050. Such a transformation, however, would likely require re-configuring the architecture of complex, centralized electricity grids, an artifact of a context of more than a century ago. In concert with the energy transition, we argue to modify the objective of the electricity grid to enable efficient, pervasive optimization in local service areas that provides incentives for users to be efficient in their energy use. At the core of our argument is the presentation of economic incentives denominated in an electricity-backed commodity currency such that incumbent electricity generators could augment their economic purpose of electricity production and electricity distribution to include financial intermediation. A direct consequence of this institutional transformation is the opportunity for all users to generate wealth. There are others who have been inspired to conjure ways that energy could be a candidate currency. Our argument is distinctive, though, in exploiting how an institution (the power grid system) could be repositioned and how all agents in the system could benefit by the institutionalization of electricity as money. Full article
(This article belongs to the Special Issue Innovation in Business and Energy Systems)
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Article
Hedging Long-Dated Oil Futures and Options Using Short-Dated Securities—Revisiting Metallgesellschaft
J. Risk Financial Manag. 2021, 14(8), 379; https://doi.org/10.3390/jrfm14080379 - 16 Aug 2021
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Abstract
Since the collapse of the Metallgesellschaft AG due to hedging losses in 1993, energy practitioners have been concerned with the ability to hedge long-dated linear and non-linear oil liabilities with short-dated futures and options. This paper identifies a model-free non-parametric approach to extrapolating [...] Read more.
Since the collapse of the Metallgesellschaft AG due to hedging losses in 1993, energy practitioners have been concerned with the ability to hedge long-dated linear and non-linear oil liabilities with short-dated futures and options. This paper identifies a model-free non-parametric approach to extrapolating futures prices and implied volatilities. When we expand the analysis to implementing hedge portfolios for long-dated futures or option contracts over the time period 2007–2017, we utilize the useful benchmark of hedge ratios arising from Schwartz and Smith. With respect to the empirical consequences of hedging long-dated futures and options with their short-dated counterparts, we find that the long-term tracking errors are, on average, quite close to zero, but there is increasing risk entailed in attempting to do so, as the hedge-tracking errors for both futures and option contracts increase with time-to-maturity. Full article
(This article belongs to the Special Issue Innovation in Business and Energy Systems)
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