Keynote Speeches

Determinants of Energy Efficiency in Developing Regions: An Empirical Analysis using MARS and CMARS

Short Bio:

Gerhard-Wilhelm Weber is professor at Poznan University of Technology, Poland. His research covers areas of mathematics, statistics, optimization, optimal control, stochastics, operational research, management science, data science, machine learning, inverse problems, remote sensing, economics, finance, game theory, neuroscience, biology, medicine, psychoanalysis, development, physics, art, languages, philosophy, religions, cosmology and Christianity. He replaced professorships at Cologne University, TU Chemnitz, and was professor at IAM, METU, Ankara, has affiliations worldwide and is in many editorial boards. He serves in IFORS, as EURO Conference Advisor, IFORS Fellow, honorary chair of EURO Working Groups, in IFORS Developing Countries Online Resources and IFORS News. He recieved the EURO Distinguished Service Award in 2025. https://scholar.google.com/citations?user=zOiT4ZQAAAAJ&hl=en

Abstract of the Speech:

This study investigates the determinants of energy efficiency, reveals nonlinear responses and critical thresholds, and uncovers regional patterns across states by applying Multivariate Adaptive Regression Splines (MARS) to explain the TFEE scores obtained from SBM-DEA. TFEE serves as the dependent variable, while a set of economic, environmental, structural, and exogenous factors, including energy consumption, capital, labour, GSDP, GHG emissions, industrial structure indicators, energy system characteristics, climate variables, spatial coordinates and time effects are independent variables.

Keywords

Developing Countries
Applications, Energy
Data Science

A Robust Target-Reaching Portfolio Optimization Problem for a Defined Contribution Pension Fund under Stochastic Mortality and Stochastic Interest Rates

Short Bio:

Abstract of the Speech:

The aim of the present work is to study a robust target-reaching portfolio optimization problem for a defined contribution pension fund within a stochastic mortality and stochastic interest rate framework. More precisely, we consider a specific class of employees who enter a life assurance contract with the same insurance firm by paying upfront some entry fee. The fund manager of the firm collects this accumulated wealth into a portfolio savings account and is to be invested optimally in an extended Black Scholes type financial market that takes into account the effects of interest rate risk. Given the long-term horizon of such schemes, the fund manager adopts a model uncertainty framework and a novel multi-period approach in order to optimally invest the portfolio’s wealth and to mitigate any unnecessary risks. Our work is significantly extended by taking into account the stochastic nature of the mortality of the fund members by resorting to appropriate affine stochastic processes for describing mortality intensity. By employing a mixture of robust control and dynamic programming techniques, we are able to provide: (i) closed-form solutions for the optimization problem at hand, and (ii) a comprehensive numerical study of the qualitative features of the problem at hand, that provides valuable insights on how the suggested pension fund management method can be applied in practice.

Recent Investment Opportunities and Sustainability Concerns in North America

Short Bio:

Prof. Mostafa Hahiaghaei-Keshteli is a Distinguished Research Professor at the Department of Industrial Engineering, School of Engineering and Science, Tecnologico de Monterrey, Mexico. He co-founded the Center of Sustainable and Smart Logistics (CLIS). His main research areas are Sustainable and Smart Logistics, Supply Chain Integration and Optimization, Energy Supply Chains, MCDM, and Combinatorial Optimization. He has developed some food and agricultural supply chains as well as designing some famous and capable Metaheuristics Algorithms in optimizations, such as Keshtel Algorithm (2012). He is the principal researcher of some international research projects, such as EU Projects. Also, he is in charge of the seed grant project with the University of Ottawa, Canada. He was ranked as one of the top 5 scholars in the area of Supply Chain and one of the top 2% scientists, according to the SciVal and Scopus reports. Mostafa is ranked #1 in Closed-loop Supply Chain and Reverse Logistics in North America and #2 Worldwide. According to research.com, he is among Mexico’s top 5 scholars in all engineering fields. He is also an editorial board member in some top journals in Elsevier and Springer, such as ASOC, EAAI, AIR, and ESWA. He has a solid industrial background, especially in European industries, such as Food, Dairy, Poultry, Engine, and Automotive.

Abstract of the Speech:

North America, comprising the United States, Canada, and Mexico, has become a prime destination for investment, driven by factors like the USMCA, nearshoring, and shifts in global supply chains. Key sectors such as technology, manufacturing, energy, and logistics are experiencing rapid growth, offering new opportunities for businesses and investors. However, this growth comes with significant sustainability challenges. As industries expand, there is increasing pressure to address environmental concerns like carbon emissions, resource depletion, and climate change. Governments and companies are now focused on integrating sustainability into their operations, with a shift towards renewable energy, circular economies, and more efficient supply chain management.

This keynote will examine the investment opportunities in North America, highlighting sectors poised for growth, while addressing the critical sustainability concerns shaping future investment strategies. By exploring the intersection of economic expansion and environmental responsibility, the presentation will offer insights into how businesses can balance profitability with sustainability, ensuring long-term resilience and success. Attendees will gain valuable perspectives on aligning investment decisions with sustainability goals in today’s evolving market.

Managerial Ability in industrial sectors: Application to Asian banks

Short Bio:

Alireza Amirteimoori is a full professor in applied mathematics & operations research group in the Faculty of Engineering and Natural Sciences, Istinye University, Istanbul, Turkey. His research interests lie in the broad area of performance management with special emphasis on the quantitative methods of performance measurement, and especially those based on the broad set of methods known as Benchmarking. Amirteimoori was rector of the Islamic University of Guilan, Iran and also the head of Research & Development of many industrial organizations. His papers appear in journals such as Socio-Economic Planning Science, Journal of Cleaner Production, Applied Mathematics & Computation, Journal of the Operations Research Society of Japan, RAIRO-Operations Research, International Journal of Advanced Manufacturing Technology, International Journal of Production Economics, Optimization, Expert Systems with Applications, Central European Journal of Operational Research, Annals of Operations Research, International Journal of Mathematics in Operational Research, Decision Support Systems, Journal of Global Optimization, International Transactions in Operational Research and etc.

Abstract of the Speech:

In benchmarking literature, especially in Data Envelopment Analysis (DEA), a firm is seen as a transformation of resources into products and services. The transformation is affected by non-controllable variables as well as non-observable skills and efforts in the organization. The idea is now to measure the non-measurable managerial characteristics; the skills and effort as illustrated in the following Figure.

The management sciences literature extensively uses a DEA-based measure of managerial ability by Demerjian, Lev, and McVay (2012). Their approach begins with the first stage estimation of firm efficiency in transforming resources into products. The second stage estimates the impact of explanatory and contextual variables on the firm’s efficiency. Finally, the residual is considered as a measure of unobserved managerial ability. In this speech, we study methods of estimating managerial ability of firms. Then, a real case on Asian banks is used to demonstrate the applicability of the proposed managerial ability estimation method.

Short Bio:

Professional Experience Dr Jai Acharya is a multi-faceted Maritime Professional with nearly five decades of active involvement in the vibrant maritime industry. Currently, he serves as Principal Consultant at International Maritime Management & Consultancy Services (IMMC), Singapore, and has been Director of IOI Ocean Academy Singapore since 2022. Consultancy and Training As a consultant, Dr Acharya has developed maritime training course curricula and syllabi, adhering to IMO Model course guidelines. He has conducted training sessions for various institutions and offered consultancy services to international clients on IMO Conventions compliance. His research on maritime emissions assessment and management demonstrates his commitment to ocean environmental protection and green shipping. Dr Acharya has acted as an independent third-party consultant for IMO audits and pre-audit assessments for flag states. He is an industry expert member of the Australian Maritime Logistics Research Network (AMLRN), hosted by RMIT University, Melbourne, and serves on the advisory board of the International Maritime Research Confluence (IMRC), Mumbai.

Abstract of the Speech:

Academic and Industry Engagement

Dr Acharya holds an appointment as Adjunct Professor at University of Tehran (UT) – College of Engineering (Faculty of Business Management – MBA Program in Transportation, Logistics & Supply Chain Management). He regularly contributes research articles and write-ups to maritime journals, magazines, and publications, and participates as keynote speaker, jury panelist, and industry expert in international conferences, forums, and webinars.

Publications

Dr Acharya is the author of a research write-up on “Maritime Logistics” in the Perspective of the BRI Initiative, published in a book (ISBN Number: 9781138607491) by Routledge and the Chinese University of Hong Kong (CUHK).

Leadership and Advocacy

Since 2012, Dr Acharya has served as Director for the International Ocean Institute (IOI – HQ @ Malta) – Singapore (Focal Point). He consistently contributes to the advancement of ocean welfare, the Ocean Governance Framework under the United Nations Convention on the Law of the Sea (UNCLOS), the Blue Economy, and addresses issues related to global climate change, including participation in the United Nations Sustainable Development Conference (Rio+20) held in June 2012 in Rio de Janeiro, Brazil.

Advisory Roles and Mentorship

As a member of advisory boards for corporate and academic institutions, Dr Acharya has extensive experience in creating and reviewing academic curricula, business development in international ship management, maritime consultancy services, and mentoring innovative projects. His expertise spans environmental shipping, maritime emission management, port energy efficiency, and wastewater management.