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Essays on Energy and Behavioral Financial Economics.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Essays on Energy and Behavioral Financial Economics./
Author:	Thomas, Irem Sevindik.
Description:	1 online resource (151 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 85-01, Section: B.
Contained By:	Dissertations Abstracts International85-01B.
Subject:	Energy. -
Online resource:	click for full text (PQDT)
ISBN:	9798379771928

Essays on Energy and Behavioral Financial Economics.
Thomas, Irem Sevindik.

Essays on Energy and Behavioral Financial Economics. - 1 online resource (151 pages)

Source: Dissertations Abstracts International, Volume: 85-01, Section: B.

Thesis (Ph.D.)--University of Nevada, Reno, 2023.

Includes bibliographical references

Chapter 1 - An analysis of Turkey's solar PV auction scheme: What can Turkey learn from Brazil and South Africa?As global investments continue in renewable energy technologies, investment costs have declined significantly. Meanwhile, many governments have shifted from pre-set renewable support schemes to auction schemes in order to introduce competition in price setting. Turkey has initiated Renewable Energy Resource Zone (RERZ) auctions to promote solar photovoltaic (PV) and wind technologies. We examine the first of these auctions, Solar PV RERZ, which has ambitious targets in terms of increasing solar PV capacity and enhancing domestic competence in solar technologies. Despite the auction being hailed as a success in terms of low prices, we utilize the Levelized Cost of Electricity generation (LCOE) analysis to demonstrate that the project is vulnerable to macroeconomic shocks and financial risks. Model results show that the capacity factor is the most prominent factor in costs, and a 10% change in the capacity factor affects the LCOE about the same rate. Investment cost and interest rate are the other major factors affecting the LCOE. Based on these results, we make recommendations by discussing how Turkey can improve its auction design by incorporating some of the elements used by Brazil and South Africa.Chapter 2 - How do macroeconomic dynamics affect small and medium-sized enterprises (SMEs) in the power sector in developing economies: Evidence from TurkeyDeveloping economies are currently projected to hold a major share of the global energy demand in the upcoming decades, giving them a key role in addressing climate change. However, new renewable energy investments in these countries have so far been relatively slow. A specific set of challenges dominate the investment environment in developing countries, including higher exposure to macroeconomic and political risks, uncertainties due to climate change, limited domestic manufacturing capabilities, and heavy reliance on foreign debt in capital investments. These factors tend to disproportionately affect small and medium-sized enterprises (SMEs) which currently hold a sizeable share of renewable and distributed energy technology investments. Not only does this impact the viability of energy transition, but also has important energy justice and local economic development implications - an overlooked subject in literature. Using a rich, novel dataset and panel data methods, this paper estimates the effect of a set of key macroeconomic variables on the capital structure and investment outcomes of SMEs within the Turkish power sector. Our results indicate that unfavorable macroeconomic conditions, which lead to a significant growth in liabilities and increased risk of bankruptcy, can cause a slowdown in power sector SME investments despite the prevalence of subsidies.Chapter 3 - Should Children Listen to their Parents' Investment Advice?This study investigates the impact of intergenerational advice on investment behavior in an experimental setting. We explore the effects of positive and negative advice from one generation to the next on asset allocation decisions. Results indicate that the transmission of advice can significantly influence investment behavior, as participants who received positive advice allocated a higher proportion of their portfolio to risky assets. The transmission of advice to allocations appears to be through participants forming more optimistic beliefs about future returns rather than any change in their risk preferences. Even when challenged by a significant downturn, the group that received positive advice continued to hold optimistic beliefs. The study also challenges the assumptions of modern portfolio theory and suggests that inexperienced investors may be more influenced by the advice of previous generations.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798379771928Subjects--Topical Terms:

784773
Energy.
Subjects--Index Terms:

Behavioral economicsIndex Terms--Genre/Form:

554714
Electronic books.

Essays on Energy and Behavioral Financial Economics.
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504 $a Includes bibliographical references
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653 $a Macroeconomic dynamics
653 $a Solar energy
653 $a Investment costs
653 $a Economic development
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