IDEAS home Printed from https://ideas.repec.org/a/spr/fininn/v10y2024i1d10.1186_s40854-024-00616-4.html
   My bibliography  Save this article

Pattern recognition of financial innovation life cycle for renewable energy investments with integer code series and multiple technology S-curves based on Q-ROF DEMATEL

Author

Listed:
  • Gang Kou

    (Southwestern University of Finance and Economics)

  • Hasan Dinçer

    (İstanbul Medipol University
    Azerbaijan State University of Economics (UNEC))

  • Serhat Yüksel

    (İstanbul Medipol University
    Azerbaijan State University of Economics (UNEC)
    Lebanese American University)

Abstract

The current study evaluates the financial innovation life cycle for renewable energy investments. A novel model is proposed that has two stages. First, the financial innovation life cycle is weighted by the two-generation technology S-curve (TTSC) for renewable energy investments. Second, the TTSC is ranked with integer patterns for renewable energy investments. For this purpose, the decision-making trial and evaluation laboratory (DEMATEL) is considered with q-rung orthopair fuzzy sets (q-ROFSs). A comparative examination is then performed using intuitionistic and Pythagorean fuzzy sets, and we find similar results for all fuzzy sets. Hence, the suggested model is reliable and coherent. Maturity phase 1 is the most significant phase of the financial innovation life cycle for these projects. Aging is the most important period for financial innovation in renewable energy investment projects—renewable energy companies should make strategic decisions after that point. In this situation, decisions should relate to either radical or incremental innovation. If companies do not make decisions during these phases, innovative financial products cannot be improved. As a result, renewable energy companies will not prefer financing products.

Suggested Citation

  • Gang Kou & Hasan Dinçer & Serhat Yüksel, 2024. "Pattern recognition of financial innovation life cycle for renewable energy investments with integer code series and multiple technology S-curves based on Q-ROF DEMATEL," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-22, December.
    • Handle: RePEc:spr:fininn:v:10:y:2024:i:1:d:10.1186_s40854-024-00616-4
    DOI: 10.1186/s40854-024-00616-4
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1186/s40854-024-00616-4
    File Function: Abstract
    Download Restriction: no
    File URL: https://libkey.io/10.1186/s40854-024-00616-4?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Kou, Gang & Yüksel, Serhat & Dinçer, Hasan, 2022. "Inventive problem-solving map of innovative carbon emission strategies for solar energy-based transportation investment projects," Applied Energy, Elsevier, vol. 311(C).
    2. Qilong Wan & Xiaodong Miao & Chenguang Wang & Hasan Dinçer & Serhat Yüksel, 2023. "A hybrid decision support system with golden cut and bipolar q-ROFSs for evaluating the risk-based strategic priorities of fintech lending for clean energy projects," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-25, December.
    3. Muhammad Kamran Khan & Muhammad Imran Khan & Muhammad Rehan, 2020. "The relationship between energy consumption, economic growth and carbon dioxide emissions in Pakistan," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 6(1), pages 1-13, December.
    4. Hakan Kalkavan & Hasan Dinçer & Serhat Yüksel, 2021. "Analysis of Islamic moral principles for sustainable economic development in developing society," International Journal of Islamic and Middle Eastern Finance and Management, Emerald Group Publishing Limited, vol. 14(5), pages 982-999, May.
    5. Paul Kerr & Donald R. Noble & Jonathan Hodges & Henry Jeffrey, 2021. "Implementing Radical Innovation in Renewable Energy Experience Curves," Energies, MDPI, vol. 14(9), pages 1-28, April.
    6. Gang Kou & Özlem Olgu Akdeniz & Hasan Dinçer & Serhat Yüksel, 2021. "Fintech investments in European banks: a hybrid IT2 fuzzy multidimensional decision-making approach," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-28, December.
    7. Kyohei Shibano & Gento Mogi, 2022. "An analysis of the acquisition of a monetary function by cryptocurrency using a multi-agent simulation model," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-30, December.
    8. Danish, & Ulucak, Recep, 2021. "Renewable energy, technological innovation and the environment: A novel dynamic auto-regressive distributive lag simulation," Renewable and Sustainable Energy Reviews, Elsevier, vol. 150(C).
    9. Hamelink, Martijn & Opdenakker, Raymond, 2019. "How business model innovation affects firm performance in the energy storage market," Renewable Energy, Elsevier, vol. 131(C), pages 120-127.
    10. Mahdi Moradi & Mehdi Jabbari Nooghabi & Mohammad Mahdi Rounaghi, 2021. "Investigation of fractal market hypothesis and forecasting time series stock returns for Tehran Stock Exchange and London Stock Exchange," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 662-678, January.
    11. Linh Pham, 2019. "Does financial development matter for innovation in renewable energy?," Applied Economics Letters, Taylor & Francis Journals, vol. 26(21), pages 1756-1761, December.
    12. Wei Xu & Daning Hu & Karl Reiner Lang & J. Leon Zhao, 2022. "Blockchain and digital finance," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-4, December.
    13. Nikita Moiseev & Alexey Mikhaylov & Hasan Dinçer & Serhat Yüksel, 2023. "Market capitalization shock effects on open innovation models in e-commerce: golden cut q-rung orthopair fuzzy multicriteria decision-making analysis," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-25, December.
    14. Qi Jun & Hasan Dinçer & Serhat Yüksel, 2021. "Stochastic hybrid decision‐making based on interval type 2 fuzzy sets for measuring the innovation capacities of financial institutions," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 573-593, January.
    15. Lorente, Daniel Balsalobre & Mohammed, Kamel Si & Cifuentes-Faura, Javier & Shahzad, Umer, 2023. "Dynamic connectedness among climate change index, green financial assets and renewable energy markets: Novel evidence from sustainable development perspective," Renewable Energy, Elsevier, vol. 204(C), pages 94-105.
    16. Xu, Xiaofeng & Wei, Zhifei & Ji, Qiang & Wang, Chenglong & Gao, Guowei, 2019. "Global renewable energy development: Influencing factors, trend predictions and countermeasures," Resources Policy, Elsevier, vol. 63(C), pages 1-1.
    17. Anu, & Singh, Amit Kumar & Raza, Syed Ali & Nakonieczny, Joanna & Shahzad, Umer, 2023. "Role of financial inclusion, green innovation, and energy efficiency for environmental performance? Evidence from developed and emerging economies in the lens of sustainable development," Structural Change and Economic Dynamics, Elsevier, vol. 64(C), pages 213-224.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hossein Ali Fakher & Zahoor Ahmed, 2023. "Does financial development moderate the link between technological innovation and environmental indicators? An advanced panel analysis," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-19, December.
    2. Wei Li & Serhat Yüksel & Hasan Dinçer, 2022. "Understanding the financial innovation priorities for renewable energy investors via QFD-based picture fuzzy and rough numbers," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-30, December.
    3. Laura Grassi & Simone Fantaccini, 2022. "An overview of Fintech applications to solve the puzzle of health care funding: state-of-the-art in medical crowdfunding," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-27, December.
    4. Ana Monteiro & Nuno Silva & Helder Sebastião, 2023. "Industry return lead-lag relationships between the US and other major countries," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-48, December.
    5. Zhang, Qianxiao & Shah, Syed Ale Raza & Yang, Ling, 2022. "Modeling the effect of disaggregated renewable energies on ecological footprint in E5 economies: Do economic growth and R&D matter?," Applied Energy, Elsevier, vol. 310(C).
    6. Serkan Eti & Hasan Dinçer & Hasan Meral & Serhat Yüksel & Yaşar Gökalp, 2024. "Insurtech in Europe: identifying the top investment priorities for driving innovation," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-24, December.
    7. Xiaohang Wu & Hasan Dinçer & Serhat Yüksel, 2022. "Analysis of crowdfunding platforms for microgrid project investors via a q-rung orthopair fuzzy hybrid decision-making approach," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-22, December.
    8. Dawood Ashraf & Mohsin Khawaja & M. Ishaq Bhatti, 2022. "Raising capital amid economic policy uncertainty: an empirical investigation," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-32, December.
    9. Parisa Foroutan & Salim Lahmiri, 2024. "Deep learning systems for forecasting the prices of crude oil and precious metals," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-40, December.
    10. Wei Liu & Youfa Sun & Serhat Yüksel & Hasan Dinçer, 2021. "Consensus-based multidimensional due diligence of fintech-enhanced green energy investment projects," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-31, December.
    11. Serhat Yüksel & Hasan Dinçer & Duygu Yavuz, 2023. "Determination of Priority Factors for the Development of Green Banking Practices in Turkey with the Fuzzy DEMATEL Method," Journal of Sustainable Development Issues (JOSDI), SDIjournals, vol. 1(1), pages 23-41, December.
    12. Fatih Ecer & Tolga Murat & Hasan Dinçer & Serhat Yüksel, 2024. "A fuzzy BWM and MARCOS integrated framework with Heronian function for evaluating cryptocurrency exchanges: a case study of Türkiye," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-29, December.
    13. Yi-Hsiang Lu & Ching-Chiang Yeh & Yu-Mei Kuo, 2024. "Exploring the critical factors affecting the adoption of blockchain: Taiwan’s banking industry," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-25, December.
    14. Mahmoud Qadan & Gil Cohen, 2024. "Uncertainty about interest rates and crude oil prices," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-14, December.
    15. Serhat Yüksel & Serkan Eti & Hasan Dinçer & Hasan Meral & Muhammad Umar & Yaşar Gökalp, 2025. "A novel fuzzy decision-making approach to pension fund investments in renewable energy," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 11(1), pages 1-24, December.
    16. Zhang, Dongyang, 2023. "Can digital finance empowerment reduce extreme ESG hypocrisy resistance to improve green innovation?," Energy Economics, Elsevier, vol. 125(C).
    17. Mohammad Nourani & Qian Long Kweh & Wen-Min Lu & Ikhlaas Gurrib, 2022. "Operational and investment efficiency of investment trust companies: Do foreign firms outperform domestic firms?," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-26, December.
    18. Jyh-Bang Jou & Charlene Tan Lee, 2023. "Design of the contingent royalty rate as related to the type of investment," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-25, December.
    19. Rui Ai & Yuhang Zheng & Serhat Yüksel & Hasan Dinçer, 2023. "Investigating the components of fintech ecosystem for distributed energy investments with an integrated quantum spherical decision support system," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-28, December.
    20. Jian Liu & Ziting Zhang & Lizhao Yan & Fenghua Wen, 2021. "Forecasting the volatility of EUA futures with economic policy uncertainty using the GARCH-MIDAS model," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-19, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:fininn:v:10:y:2024:i:1:d:10.1186_s40854-024-00616-4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.