Emmanuel Bannor B. and Alex O. Acheampong
This paper aims to use artificial neural networks to develop models for forecasting energy demand for Australia, China, France, India and the USA.
Abstract
Purpose
This paper aims to use artificial neural networks to develop models for forecasting energy demand for Australia, China, France, India and the USA.
Design/methodology/approach
The study used quarterly data that span over the period of 1980Q1-2015Q4 to develop and validate the models. Eight input parameters were used for modeling the demand for energy. Hyperparameter optimization was performed to determine the ideal parameters for configuring each country’s model. To ensure stable forecasts, a repeated evaluation approach was used. After several iterations, the optimal models for each country were selected based on predefined criteria. A multi-layer perceptron with a back-propagation algorithm was used for building each model.
Findings
The results suggest that the validated models have developed high generalizing capabilities with insignificant forecasting deviations. The model for Australia, China, France, India and the USA attained high coefficients of determination of 0.981, 0.9837, 0.9425, 0.9137 and 0.9756, respectively. The results from the partial rank correlation coefficient further reveal that economic growth has the highest sensitivity weight on energy demand in Australia, France and the USA while industrialization has the highest sensitivity weight on energy demand in China. Trade openness has the highest sensitivity weight on energy demand in India.
Originality/value
This study incorporates other variables such as financial development, foreign direct investment, trade openness, industrialization and urbanization, which are found to have an important effect on energy demand in the model to prevent underestimation of the actual energy demand. Sensitivity analysis is conducted to determine the most influential variables. The study further deploys the models for hands-on predictions of energy demand.
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Ernest Kissi, Theophilus Adjei-Kumi, Edward Badu and Emmanuel Bannor Boateng
Tender price remains an imperative parameter for clients in deciding whether to invest in a construction project, and it serves as a basis for tender price index (TPI…
Abstract
Purpose
Tender price remains an imperative parameter for clients in deciding whether to invest in a construction project, and it serves as a basis for tender price index (TPI) manipulations. This paper aims to examine the factors affecting tender price in the construction industry.
Design/methodology/approach
Based on the literature review, nine independent constructs and one dependent construct relating to tender pricing were identified. A structured questionnaire survey was conducted among quantity surveyors in Ghana. Partial least squares structural equation modelling (PLS-SEM) examined the influences of various constructs on tender price development (TPD) and the relationships among TPD and TPI.
Findings
Results showed that cultural attributes, client attributes, contractor attributes; contract procedures and procurement methods; consultant and design team; external factors and market conditions; project attributes; sustainable and technological attributes; and TPI have a positive influence on tender price, whereas fraudulent attributes exert a negative influence.
Practical implications
The findings offer construction professionals broader understanding of factors that affect tender pricing. The results may be used in professional decision-making in the pricing of construction projects, as they offer clearer causal relations between how each construct will influence pricing.
Originality/value
This study adds to the body of construction pricing knowledge by establishing the relationships and degree of influences of various factors on tender price. These findings provide a valuable reference for practitioners.
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Nicholas Oppong Mensah, Ernest Christlieb Amrago, Emmanuel T.D. Mensah, Jeffery Kofi Asare and Samuel Afotey Anang
Aquaculture insurance has the potential of redressing climate-change because it serves as an alternative source of finance in the event of unforeseen circumstances. To this end…
Abstract
Purpose
Aquaculture insurance has the potential of redressing climate-change because it serves as an alternative source of finance in the event of unforeseen circumstances. To this end, the authors examine the prospects, determinants and profitability of aquaculture insurance among fish farmers in the Eastern region of Ghana.
Design/methodology/approach
A total of 140 fish farmers were sampled for the study. Thematic analysis was used to determine perceived aquaculture insurance prospects. The Heckman's two-stage model, profitability index (PI) and return on investment (ROI) was employed to respectively determine the factors influencing aquaculture insurance participation and amount intensity and the profitability of aquaculture.
Findings
The thematic analysis revealed three themes on the perception of aquaculture insurance prospects: loss recovery, farm renovation and promotes agriculture. Different sets of demographic and institutional factors have varying influences on aquaculture insurance participation and amount intensity. Profitability index (PI) and return on investment (ROI) were respectively 2.07 and 3.2%.
Originality/value
The research provides relevant information on perceived aquaculture insurance prospects, aquaculture insurance participation, and amount intensity and profitability of aquaculture which can contribute to enhancing aquaculture insurance and the aquaculture industry in Ghana.
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Emmanuel Kwame Nti, Camillus Abawiera Wongnaa, Nana Sampson E. Edusah, John-Eudes Andivi Bakang and Vasco Baffour Kyei
The purpose of this paper is to support the development of effective strategies that enhance community water supply systems. The study examined service constraints and willingness…
Abstract
Purpose
The purpose of this paper is to support the development of effective strategies that enhance community water supply systems. The study examined service constraints and willingness to pay for better services in community-managed water supply services using empirical evidence from beneficiaries of a small-town water supply system in Ghana.
Design/methodology/approach
A survey design of both descriptive and exploratory research is adopted, the descriptive survey handles the quantitative aspect, while the exploratory survey handles the qualitative aspect. The authors collected data using a structured survey questionnaire from 387 beneficiaries who were public standpipe and domestic users. Descriptive statistics, Kendall's coefficient of concordance and Cragg's two-step model were the methods of analysis employed.
Findings
The respondents ranked lack of capacity (managerial) as the topmost constraint of the community-managed water system. The findings indicate that 57% of the beneficiaries were not willing to pay, whiles 43% were willing to pay. Also, results from Cragg's two-step regression model indicate that different sets of factors affect willingness-to-pay and amount-to-pay decisions. The study revealed that while a willingness-to-pay decision is influenced by income, education, marital status and customer service, the estimated-amount-to-pay decision is more influenced by income and education.
Originality/value
Building on the empirical evidence, the findings indicated that the water and sanitation management team can increase the current fee of GH¢ 5.00/1 m3 (≈US$ 0.87) by increasing beneficiaries charge for a bucket of water from GH¢ 0.10p (≈US$ 0.017) to GH¢ 0.21p (≈US$ 0.036) for better services within the community. Importantly, the additional charge should take into consideration income and education which were noted to significantly influence the beneficiary's amount-to-pay decision for better services in the community-managed water supply system.
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Nicholas Oppong Mensah, Jeffery Kofi Asare, Ernest Christlieb Amrago, Samuel Afotey Anang and Tekuni Nakuja
This paper seeks to examine the prospects and constraints of implementing food banking in the in Kumasi Metropolis in Ghana.
Abstract
Purpose
This paper seeks to examine the prospects and constraints of implementing food banking in the in Kumasi Metropolis in Ghana.
Design/methodology/approach
Multistage sampling technique was used to select 385 respondents for the study. Descriptive statistics were used to present prospects of food banking. The probit regression model was used to analyse factors influencing food banking implementation whereas Kendall's coefficient of concordance was used to analyse constraints in implementing food banking.
Findings
Addressing food poverty, helping to provide food aid to respondents in times of pandemics (such as Covid 19) and also helping in reducing food wastage were the most notable prospects of food banking. Age, household size, food bank awareness and food poverty had a significant positive influence on food banking implementation, whereas residential status and employment status had a significant negative influence on food banking implementation. The most pressing constraint in implementing food banking is funding and support with the mean rank of 3.03 whiles the least pressing constraint is improper documentation of potential beneficiaries with the mean rank of 6.72.
Social implications
This study provides empirical contributions and practical implications for implementing food banks in Ghana. Thus, the government of Ghana through the Ministry of Food and Agriculture (MOFA) can enact policies that can help prevent food losses and wastage. In this vain, food which could have been wasted would be redirected to food banks. This can serve as a tool for social intervention, poverty alleviation and prevention of hunger among the vulnerable in Ghana.
Originality/value
Despite several studies on food banking in affluent countries, food banking research in developing countries such as Ghana remains scanty. Thus, this paper makes significant contributions to the literature on prospects and constraints in implementing food banking and the factors influencing food banking implementation.
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Ifeyinwa Juliet Orji and Francis I. Ojadi
Extreme weather events are on the rise around the globe. Nevertheless, it is unclear how these extreme weather events have impacted the supply chain sustainability (SCS…
Abstract
Purpose
Extreme weather events are on the rise around the globe. Nevertheless, it is unclear how these extreme weather events have impacted the supply chain sustainability (SCS) framework. To this end, this paper aims to identify and analyze the aspects and criteria to enable manufacturing firms to navigate shifts toward SCS under extreme weather events.
Design/methodology/approach
The Best-Worst Method is deployed and extended with the entropy concept to obtain the degree of significance of the identified framework of aspects and criteria for SCS in the context of extreme weather events through the lens of managers in the manufacturing firms of a developing country-Nigeria.
Findings
The results show that extreme weather preparedness and economic aspects take center stage and are most critical for overcoming the risk of unsustainable patterns within manufacturing supply chains under extreme weather events in developing country.
Originality/value
This study advances the body of knowledge by identifying how extreme weather events have become a significant moderator of the SCS framework in manufacturing firms. This research will assist decision-makers in the manufacturing sector to position viable niche regimes to achieve SCS in the context of extreme weather events for expected performance gains.