In Their Own Words: A Call for Increased Use of Organizational Narratives in Family Business Research

Drozdowski

2022

Surprisingly, little is known whether the net present value (NPV) used as a financial metric in budgeting and investment planning to analyse a projects’ profitability is universal. Meanwhile, the epochal green energy revolution ensuring carbon neutrality through green innovations requires enormous investments, and projects realised must ensure energy security. Therefore, there is a need to reanalyse financial metrics used in financial planning, including NPV. We eliminate this research gap and, based on data from Poland, Romania, Hungary, Croatia, the USA, the United Kingdom, Japan, Israel, and Euro Zone, explain why one may not perceive the currently used NPV formula as a universal financial metric. We show that the variable discount rate influences the time value of money. Therefore, there is a need to redefine the NPV formula. This study makes two main contributions. First, it creates new ground by revisiting the NPV formula in the emerging market context compared to stable economies and contributes to developing business and management theory. Second, we propose and empirically verify the modified NPV formula as a financial metric that considers the situation of energy firms in emerging markets. Thus, this research helps the capital budgeting process, and the modified NPV formula can help provide optimal outcomes in firms, helping to reduce financial risks. Our study contributes to a further contextual diagnosis of business projects and can, in turn, be relevant for other energy sector analyses.

Section: Methodsmentioning

confidence: 82%

Does the Net Present Value as a Financial Metric Fit Investment in Green Energy Security?

Drozdowski

2022

“…Following researchers assumption that literature analysis could be a source of inspiration to create research study [13,14], the literature study, supplemented by analysis of legal requirements of Polish energy safety system, and analysis of Polish supreme audit institution's (SAI) audit report constituted the basis for researching local energy safety. The scarcity of research in this area enabled identifying a research gap and the formulation of research questions relating to the Polish local energy safety system.…”

Section: Methodsmentioning

confidence: 99%

Energy and Local Safety: How the Administration Limits Energy Security

2021

Energy safety is multifaceted and is not limited only to nuclear plants. The research on local energy safety is not considerable. This article creates new ground by analysing the Polish local energy safety system in the cause–effect context. Consistent with an abductive approach, this paper’s insights have emerged iteratively based on the theory reviewed and the empirical case. The research aimed to determine whether the local administration negatively affected energy security and proposed preventive measures increased limited energy security. The findings show that flawed local government operations reduce local energy safety. Moreover, the State authorities did not recognise the weaknesses of the local energy safety system properly. The findings make two main contributions: first, they contribute to developing energy safety theory; and second, this article contributes to a further contextual diagnosis of the comprehensive energy system and can, in turn, be relevant for its further studies in worldwide context.

“…Considering that the literature can be a source of research inspiration, as noted by Nordqvist and Gardner [26] and Short and Payne [27], this paper's insights have emerged iteratively based on the systematic literature review [28,29]. To resolve the research question and prove the hypothesis, we used non-standardised and non-structured interviews [30] with the literature study [31,32].…”

Section: Methodsmentioning

confidence: 99%

Business Model Canvas and Energy Enterprises

Sułkowski

2021

So far, little is known about the Business Model Canvas development in the energy sector. In this paper, we fill this knowledge gap and modify the Business Model Canvas. Based on the cause–effect analysis combined with the literature searching method, we suggest that Osterwalder’s Canvas for energy enterprise should be modified because the available Canvas adaptations cannot fully capture the energy enterprise’s business model or realise its business operations combined with the public interest. We propose a new original Canvas adaptation by adding two crucial blocks representing the mission, energy accountability, and impact on stakeholders in the Business Model Canvas. The findings make two main contributions. First, they contribute to developing entrepreneurship theory. We formulate an original definition of a business model, first showing the limitations of current definitions. We verify Chesbrough’s functions of business models. Second, compared to earlier business model frameworks, the new model clearly points out that accountability in firms’ everyday businesses is at the core of business development. Moreover, this article formulates future research avenues in the energy sector and provides a helpful planning tool for practitioners.