Multifactorial components analysis of the renewable energy sector in the OECD countries and managerial implications

• Autorzy: Androniceanu Ane-Mari , Georgescu Irina , Dobrin Cosmin , Dragulanescu Irina Virginia

Identyfikatory

DOI

10.17512/pjms.2020.22.2.03

Warianty tytułu

PL

Analiza komponentów wielofunkcyjnych sektora energii odnawialnej w krajach OECD i implikacje kierownicze

• Języki publikacji: EN

Abstrakty

EN

New technologies and new market realities determine the global energy industry to redesign their business models in all significant areas. We based our research on the components of renewable energy within the OECD countries and used thirteen indicators in order to find out both the relations and the impact of main sectorial indicators and the global indicators of the OECD countries to their economic and social development. The main goal of our research is to discover the main correlations between the renewable energies and the economic development of the OECD countries. We used databases of the OECD, Our World in Data, International Energy Agency (IEA) and International Renewable Energy Agency (IRENA), available for years 2017 and 2018. We apply Principal Component Analysis (PCA) and retain three principal components explaining 76.098% of the total variance. The main findings of the PCA application are; (1) factor 1 is dominated by the main renewable energy sources: traditional biofuels, hydropower, solar, wind and other renewables, as well as energy products, energy exports, energy capacity and energy generation; (2) factor 2 is dominated positively by energy imports and negatively by primary energy supply and GDP per capita; (3) factor 3 measures electricity generation. The results are addressed to the OECD member states, but also to other categories of states. Our results clearly show that if the OECD states are developing coherent renewable energy policies as part of an integrated smart energy system. The results show a direct link between investments in renewable energy and macroeconomic indicators of the considered states and main implications to the management.

PL

Nowe technologie i nowe realia rynkowe determinują globalny przemysł energetyczny do przeprojektowania modeli biznesowych we wszystkich istotnych obszarach. Nasze badania oparliśmy na składnikach energii odnawialnej w krajach OECD i wykorzystaliśmy trzynaście wskaźników, aby poznać zarówno relacje, jak i wpływ głównych wskaźników sektorowych oraz wskaźników globalnych krajów OECD na ich rozwój gospodarczy i społeczny. Głównym celem naszych badań jest odkrycie głównych korelacji między energią odnawialną a rozwojem gospodarczym krajów OECD. Korzystaliśmy z baz danych OECD, Our World in Data, Międzynarodowej Agencji Energii (IEA) i Międzynarodowej Agencji Energii Odnawialnej (IRENA), dostępnych za lata 2017 i 2018. Stosujemy analizę głównych komponentów (PCA) i zatrzymujemy trzy główne komponenty wyjaśniające 76,098% całkowitej wariancji. Główne ustalenia wniosku o PCA są następujące; (1) czynnik 1 jest zdominowany przez główne odnawialne źródła energii: tradycyjne biopaliwa, energię wodną, słoneczną, wiatrową i inne odnawialne źródła energii, a także produkty energetyczne, eksport energii, moc i wytwarzanie energii; (2) czynnik 2 jest zdominowany pozytywnie przez import energii, a negatywnie przez podaż energii pierwotnej i PKB na mieszkańca; (3) współczynnik 3 mierzy wytwarzanie energii elektrycznej. Wyniki skierowane są do krajów członkowskich OECD, ale także do innych kategorii państw. Nasze wyniki jasno pokazują, że państwa OECD opracowują spójną politykę w zakresie energii odnawialnej w ramach zintegrowanego inteligentnego systemu energetycznego. Wyniki wskazują na bezpośredni związek między inwestycjami w energię odnawialną a wskaźnikami makroekonomicznymi rozważanych krajów i głównymi implikacjami dla zarządzania.

Słowa kluczowe

EN

renewable energy; principal component analysis; government policy

PL

energia odnawialna; analiza głównych komponentów; polityka rządu

• Wydawca: Czestochowa University of Technology
• Czasopismo: Polish Journal of Management Studies
• Rocznik: 2020
• Tom: Vol. 22, No. 2
• Strony: 36--49
• Opis fizyczny: Bibliogr. 41 poz., rys., tab.

Twórcy

autor

Androniceanu Ane-Mari

• Doctoral School of Management, PhD Student

autor

Georgescu Irina

• Faculty of Cybernetics, Statistics and Economic Informatics

autor

Dobrin Cosmin

• Faculty of Management, Bucharest University of Economic Studies

autor

Dragulanescu Irina Virginia

• Faculty of Business and Administration, University of Bucharest. Bucharest, Romania

Bibliografia

• 1. Adamisin, P., Kotulic, R., Mura, L., Kravcakova Vozarova, I. and Vavrek, R., (2018). Managerial approaches of environmental projects: an empirical study. Polish Journal of Management Studies, 17 (1), 27-38.
• 2. Al-Tkhayneh, K., Kot, S. and Shestak, V., (2019). Motivation and demotivation factors affecting productivity in public sector. Administratie si Management Public, 33, 77-102.
• 3. Androniceanu, A., Tvaronavičienė, M., (2019). Developing a holistic system for social assistance services based on effective and sustainable partnerships. Administratie si Management Public, 33, 103-118.
• 4. Androniceanu, A-M., Georgescu, I., Tvaronavičiene, M. and Androniceanu, A., (2020). Canonical Correlation Analysis and a New Composite Index on Digitalization and Labor Force in the Context of the Industrial Revolution 4.0. Sustainability, 12(17), Article number: 6812.
• 5. Bayar, Y., Remeikiene, R., Androniceanu, A., Gaspareniene, L. and Jucevicius, R., (2020). The shadow economy, human development and foreign direct investment inflows. Journal of Competitiveness, 12(1), 5-21.
• 6. Borocki, J., Radisic, M., Sroka, W., Greblikaite, J. and Androniceanu, A., (2019). Methodology for strategic posture determination of SMEs - the case from a developing country, Inžinerinė Ekonomika-Engineering Economics, 30(3), 265-277.
• 7. Çera, G., Meço, M., Çera, E. and Maloku, S., (2019). The effect of institutional constraints and business network on trust in government: an institutional perspective. Administratie si Management Public, 33, 6-19.
• 8. Chehabeddine, M., Tvaronavičienė, M., (2020). Securing regional development. Insights into Regional Development, 2(1), 430-442.
• 9. Click Energy. 12 Countries Leading the Way in Renewable Energy. Retrieved from: https://www.clickenergy.com.au/news-blog/12-countries-leading-the-way-in-renewable-energy/. Accessed on 26 June 2020.
• 10. Dan, H., (2019). Culturally green - an investigation into the cultural determinants of environmental performance, Forum Scientiae Oeconomia, 7(2), 107-126 .
• 11. Droes, M.I., Koster, H.R.A., (2020). Renewable energy and negative externalities: The effect of wind turbines on house prices. Journal of Urban Economics, 96, 121-141.
• 12. Dudin, M.N., Frolova, E.E., Protopopova, O.V., Mamedov, A.A. and Odintsov, S.V. (2019). Study of innovative technologies in the energy industry: nontraditional and renewable energy sources. Entrepreneurship and Sustainability Issues, 6(4), 1704-1713.
• 13. Duľová Spišáková, E., Mura, L., Gontkovičová, B. and Hajduová, Z., (2017). R&D in the context of Europe 2020 in selected countries. Economic Computation and Economic Cybernetics Studies and Research, 51 (4), 243-261.
• 14. El Idrissi, N. E. A., Ilham Zerrouk, I., Zirari, N. and Monni, S., (2020). Comparative study between two innovative clusters in Morocco and Italy. Insights into Regional Development, 2(1), 400-417.
• 15. Government of Canada (2020). Renewable Energy Facts. Retrieved from: https://www.nrcan.gc.ca/science-data/data-analysis/energy-data-analysis/renewable-energy-facts/20069. Accessed on 16 July 2020.
• 16. Grondys, K., Androniceanu, A. and Dacko-Pikiewicz, Z., (2020). Energy Management in the Operation of Enterprises in the Light of the Applicable Provisions of the Energy Efficiency Directive (2012/27/EU). Energies, 13(17), Article number: 4338.
• 17. Haller, A., (2020). From classical and neoclassical economic growth to degrowth in Europe. Challenges for public administration. Administratie si Management Public, 34, 150-170.
• 18. Haseeb, M., Kot, S., Hussain, H.I., Mihardjo, L.W.W. and Saluga, P., (2020). Modelling the non-linear energy intensity effect based on a quantile-on-quantile approach: The case of textiles manufacturing in Asian countries. Energies, 13 (9), art. no. 2229.
• 19. Jolliffe, I. T., Principal Component Analysis, Second Edition, Springer, New York, 2010.
• 20. Kassambara, A., Practical Guide to Principal Component Methods in R, Sthda, 2017.
• 21. Kelić, I., Erceg, A. and Čandrlić Dankoš, I., (2020). Increasing tourism competitiveness: Connecting Blue and Green Croatia. Journal of Tourism and Services, 20(11), 132-149.
• 22. Kinnunen, J., Androniceanu, A. and Georgescu, I., (2019). The role of economic and political features in classification of countries in transition by Human Development Index. Informatica Economică, 23(4), 26-40.
• 23. Kluczek, A., (2019). Multi-criteria decision analysis for simplified evaluation of clean energy technologies, Production Engineering Archives, 23, 3-11.
• 24. Mesagan, E.P., Olunkwa, N.C., (2020). Energy consumption, capital investment and environmental degradation: the African experience, Forum Scientiae Oeconomia, 8(1), 5-16.
• 25. Meyer, N., Meyer, D.F., (2016). The relationship between the creation of an enabling environment and economic development: A comparative analysis of management at local government sphere. Polish Journal of Management Studies, 14 (2), 150-160.
• 26. Mikhaylov, A., Moiseev, N., Aleshin, K. and Burkhardt, T., (2020). Global climate change and greenhouse effect. Entrepreneurship and Sustainability Issues, 7(4), 2897-2913.
• 27. Nicolescu, L., Tudorache, F.G. and Androniceanu, A., (2020). Performance risk analysis on mutual funds versus stock exchanges in young financial markets. Journal of International Studies, 13(1), 279-294.
• 28. Pauhofova, I., Stehlikova, B, Kljucnikov, A., Androniceanu, A., (2018). Spatial and sectoral conditionality of the average monthly nominal wage in the Slovak Republic, Transformations in Business & Economics, 17(3), 155-168.
• 29. Probala, D., Sabolová, B., Jeňo, M., (2016). Urban wind turbines and the possibility of their use in Slovakia. Acta Technologia, 2(4), 11-16.
• 30. Raišienė, A. G., Bilan, S., Smalskys, V., Gečienė, J., (2019). Emerging changes in attitudes to inter-institutional collaboration: the case of organizations providing social services in communities. Administratie si Management Public, 33, 34-56.
• 31. Sabishchenko, O., Rębilas, R., Sczygiol, N. and Urbański, M., (2020). Ukraine energy sector management using hybrid renewable energy systems. Energies, 13 (7), art. no. 1776.
• 32. Siekelova, A., Androniceanu, A., Durana, P. and Frajtova Michalikova, K., (2020). Earnings Management (EM), Initiatives and Company Size: An Empirical Study. Acta Polytechnica Hungarica, 17(9), 41-56.
• 33. Strydom, C., Meyer, N. and Synodinos, C. (2020). Generation Y university students’ intentions to become ecopreneurs: A gender comparison. Journal of Contemporary Management, 17(1), 22-43.
• 34. Tkachuk, I., Vinnychuk, O., (2020). Impact of specific macroeconomic indicators on the formation of revenues of non-governmental organizations from personal contributions of the Ukrainian population. Administratie si Management Public, 34, 64-77.
• 35. Tutak, M.; Brodny, J.; Siwiec, D.; Ulewicz, R.; Bindzár, P. (2020). Studying the Level of Sustainable Energy Development of the European Union Countries and Their Similarity Based on the Economic and Demographic Potential. Energies, 13, 6643.
• 36. Vasilyeva, T., Bagmet, K., Bilan, S. and Seliga R., (2020). Institutional development gap in the social sector: cross-country analysis. Economics and Sociology, 13(1), 271-294.
• 37. Vu, H.M., Ngo, V.M., (2019). Strategy development from triangulated viewpoints for a fast growing destination toward sustainable tourism development - a case of Phu Quoc Islands in Vietnam, Journal of Tourism and Services, 10(18), 117-140.
• 38. Wilks, D. S., (1995). Statistical Methods in the Atmospheric Sciences: An Introduction. San Diego: Academic Press.
• 39. Zhelykh, V., Venhryn, I., Kozak, K., Shapoval, S., (2020). Solar collectors integrated into transparent facades. Production Engineering Archives, 26(3), 84-87.
• 40. Zhang, XC.; Ma, C.; Song, X.; Zhou, YY. and Chen, WP., (2016). The impacts of wind technology advancement on future global energy. Applied Energy, 184, 1033-1037.
• 41. Žižka, M., Pelloneová, N., (2019). Do clusters with public support perform better? Case study of Czech cluster organizations. Administratie si Management Public, 33, 20-33.

Uwagi

Opracowanie rekordu ze środków MNiSW, umowa Nr 461252 w ramach programu "Społeczna odpowiedzialność nauki" - moduł: Popularyzacja nauki i promocja sportu (2021).