Search results for: building stock decarbonization

Authors: Nadiah Yola Putri, Nesia Putri Sharfina, Traviata Prakarti

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This paper is a literature review presented descriptively to review the concept of green building to face the challenge of sustainable development and food in urban areas. In this paper, researchers initiated the concept of green building with sky farming method. Sky farming use vertical landscape system in order to realizing food self-sufficient green city. Sky farming relying on plantings and irrigation system efficiency in the building which is adopted the principles of green building. Planting system is done by applying hydroponic plants with Nutrient Film Technique (NFT) using energy source of solar cell and grey water from the processing of waste treatment plant. The application of sky farming in urban areas can be a recommendation for the design of environmental-friendly construction. In order to keep the land and distance efficiency, this system is a futuristic idea that would be the connector of human civilization in the future.

Keywords: green building, urban area, sky farming, vertical landscape

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Authors: T. Wen, Y. Liu, J. Wang, W. Zheng, T. Shao

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Along with the increasing density of urban population, solar energy potential of building facade in high-density residential areas become a question that needs to be addressed. This paper studies how the solar energy utilization potential of building facades in different locations of a residential areas changes with different building layouts and orientations in Xining, a typical city in west China which possesses large solar radiation resource. Solar energy potential of three typical building layouts of residential areas, which are parallel determinant, gable misalignment, transverse misalignment, are discussed in detail. First of all, through the data collection and statistics of Xining new residential area, the most representative building parameters are extracted, including building layout, building height, building layers, and building shape. Secondly, according to the results of building parameters extraction, a general model is established and analyzed with rhinoceros 6.0 and its own plug-in grasshopper. Finally, results of the various simulations and data analyses are presented in a visualized way. The results show that there are great differences in the solar energy potential of building facades in different locations of residential areas under three typical building layouts. Generally speaking, the solar energy potential of the west peripheral location is the largest, followed by the East peripheral location, and the middle location is the smallest. When the deflection angle is the same, the solar energy potential shows the result that the West deflection is greater than the East deflection. In addition, the optimal building azimuth range under these three typical building layouts is obtained. Within this range, the solar energy potential of the residential area can always maintain a high level. Beyond this range, the solar energy potential drops sharply. Finally, it is found that when the solar energy potential is maximum, the deflection angle is not positive south, but 5 °or 15°south by west. The results of this study can provide decision analysis basis for residential design of Xining city to improve solar energy utilization potential and provide a reference for solar energy utilization design of urban residential buildings in other similar areas.

Keywords: building facade, solar energy potential, solar radiation, urban residential area, visualization, Xining city

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Authors: Abdulhameed Babatunde Owolabi, Benyoh Emmanuel Kigha Nsafon, Jeung-Soo Huh

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Energy efficiency measures for residential buildings in South Korea is a national issue because most of the apartments built in the last decades were constructed without proper energy efficiency measures making the energy performance of old buildings to be very poor when compared with new buildings. However, the adoption of advanced building technologies and regulatory building codes are effective energy efficiency strategies for new construction. There is a need to retrofits the existing building using energy conservation measures (ECMs) equipment’s in order to conserve energy and reduce GHGs emissions. To achieve this, the Institute for Global Climate Change and Energy (IGCCE), Kyungpook National University (KNU), Daegu, South Korea employed RETScreen Expert software to carry out measurement and verification (M&V) analysis on an existing building in Korea by using six years gas consumption data collected from Daesung Energy Co., Ltd in order to determine the building energy performance after the introduction of ECM. Through the M&V, energy efficiency is attained, and the resident doubt was reduced. From the analysis, a total of 657 Giga Joules (GJ) of liquefied natural gas (LNG) was consumed at the rate of 0.34 GJ/day having a peak in the year 2015, which cost the occupant the sum of $10,821.

Keywords: energy efficiency, measurement and verification, performance analysis, RETScreen experts

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Authors: Rafik Taleb, Farid Bouriche, Mehdi Boukri, Fouad Kehila

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The aim of the paper is to investigate the dynamic behavior of an unreinforced masonry (URM) building strengthened by DC-90 dampers by ambient and low-level forced vibration tests. Ambient and forced vibration techniques are usually applied to reinforced concrete or steel buildings to understand and identify their dynamic behavior, however, less is known about their applicability for masonry buildings. Ambient vibrations were measured before and after strengthening of the URM building by DC-90 dampers system. For forced vibration test, a series of low amplitude steady state harmonic forced vibration tests were conducted after strengthening using eccentric mass shaker. The resonant frequency curves, mode shapes and damping coefficients as well as stress distribution in the steel braces of the DC-90 dampers have been investigated and could be defined. It was shown that the dynamic behavior of the masonry building, even if not regular and with deformable floors, can be effectively represented. It can be concluded that the strengthening of the building does not change the dynamic properties of the building due to the fact of low amplitude excitation which do not activate the dampers.

Keywords: ambient vibrations, masonry buildings, forced vibrations, structural dynamic identification

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Authors: Juniarti, Agus Arianto Toly

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This study aims to examine the effect of capital expenditure on the investors’ responses. The respondents were companies with the best stock performance in each sector in 2017. The observation period is 2017 to 2019. Top 10 companies in each sector with the best stock performance in companies listed on the Indonesia Stock Exchange were selected. The main variables are a growth signal which is proxied by growth in capital spending and capital expenditure, and risk and investor response, which is proxied by CAR. Financial performance as measured by ROA is a control variable in this study. The results showed that the signal of growth as measured by capital expenditures responded positively by the market, the risk moderates this influence, companies with high risk will be responded negatively by investors and vice versa. This finding corrects previous findings that only looked at the signal aspect of growth, without linking it to risk. In addition, these findings reinforce the argument that investors buy the future of the company, not a momentary financial performance. This can be seen from the absence of ROA influence on investor response. This study found that companies need to manage risk appropriately, because the risk aspect of the company is a crucial factor for investors. High risks will eliminate the benefits of strategic decisions in this case in the form of capital expenditures.

Keywords: capital expenditure, growth signals, investor response, risk

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Authors: Mussa Hussaini, Supasith Chonglerttham

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Stocks are usually classified according to their characteristics which are unique enough such that the performance of each category can be differentiated from another. The reasons behind such classifications in the financial market are sometimes financial innovation or it can also be because of finding a premium in a group of stocks with similar features. One of the major classifications in stocks market is called momentum strategy. Based on this strategy stocks are classified according to their past performances into past winners and past losers. Momentum in a stock market refers to the idea that stocks will keep moving in the same direction. In other word, stocks with rising prices (past winners stocks) will continue to rise and those stocks with falling prices (past losers stocks) will continue to fall. The performance of this classification has been well documented in numerous studies in different countries. These studies suggest that past winners tend to outperform past losers in the future. However, academic research in this direction has been limited in countries such as Thailand and to the best of our knowledge, there has been no such study in Thailand after the financial crisis of 1997. The significance of this study stems from the fact that Thailand is an open market and has been encouraging foreign investments as one of the means to enhance employment, promote economic development, and technology transfer and the main equity market in Thailand, the Stock Exchange of Thailand is a crucial channel for Foreign Investment inflow into the country. The equity market size in Thailand increased from $1.72 billion in 1984 to $133.66 billion in 1993, an increase of over 77 times within a decade. The main contribution of this paper is evidence for size category in the context of the equity market in Thailand. Almost all previous studies have focused solely on large stocks or indices. This paper extends the scope beyond large stocks and indices by including small and tiny stocks as well. Further, since there is a distinct absence of detailed academic research on momentum strategy in the Stock Exchange of Thailand after the crisis, this paper also contributes to the extension of existing literature of the study. This research is also of significance for those researchers who would like to compare the performance of this strategy in different countries and markets. In the Stock Exchange of Thailand, we examined the performance of momentum strategy from 2010 to 2014. Returns on portfolios are calculated on monthly basis. Our results on momentum strategy confirm that there is positive momentum profit in large size stocks whereas there is negative momentum profit in small size stocks during the period of 2010 to 2014. Furthermore, the equal weighted average of momentum profit of both small and large size category do not provide any indication of overall momentum profit.

Keywords: momentum strategy, past loser, past winner, stock exchange of Thailand

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Authors: Golshid Gilani, Albert De La Fuente, Ana Blanco

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Sustainability assessment of new and existing buildings has generated a growing interest due to the evident environmental, social and economic impacts during their construction and service life. Façades, as one of the most important exterior elements of a building, may contribute to the building sustainability by reducing the amount of energy consumption and providing thermal comfort for the inhabitants, thus minimizing the environmental impact on both the building and on the environment. Various methods have been used for the sustainability assessment of buildings due to the importance of this issue. However, most of the existing methods mainly concentrate on environmental and economic aspects, disregarding the third pillar of sustainability, which is the social aspect. Besides, there is a little focus on comprehensive sustainability assessment of facades, as an important element of a building. This confirms the need of developing methods for assessing the sustainable performance of building façades as an important step in achieving building sustainability. In this respect, this paper aims at presenting a model for assessing the global sustainability of façade systems. for that purpose, the Integrated Value Model for Sustainable Assessment (MIVES), a Multi-Criteria Decision Making model that integrates the main sustainability requirements (economic, environmental and social) and includes the concept of value functions, used as an assessment tool.

Keywords: façade, MCDM, MIVES, sustainability

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Authors: Adel M. Qatawneh

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This paper aimed to determine the importance of knowledge innovation for external audit on anti-corruption in the entire Jordanian bank companies are listed in Amman Stock Exchange (ASE). The study importance arises from the need to recognize the Knowledge innovation for external audit and anti-corruption as the development in the world of business, the variables that will be affected by external audit innovation are: reliability of financial data, relevantly of financial data, consistency of the financial data, Full disclosure of financial data and protecting the rights of investors to achieve the objectives of the study a questionnaire was designed and distributed to the society of the Jordanian bank are listed in Amman Stock Exchange. The data analysis found out that the banks in Jordan have a positive importance of Knowledge innovation for external audit on anti-corruption. They agree on the benefit of Knowledge innovation for external audit on anti-corruption. The statistical analysis showed that Knowledge innovation for external audit had a positive impact on the anti-corruption and that external audit has a significantly statistical relationship with anti-corruption, reliability of financial data, consistency of the financial data, a full disclosure of financial data and protecting the rights of investors.

Keywords: knowledge innovation, external audit, anti-corruption, Amman Stock Exchange

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Authors: Banan Aljumaiah

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In recent years, the construction industry has leveraged the information revolution, which makes it possible to view the entire construction process of new buildings before they are built with the advent of Building Information Modelling (BIM). Although BIM is an integration of the building model with the data and documents about the building, however, its implementation is limited to individual buildings missing the large picture of the city infrastructure. This limitation of BIM led to the birth of City Information Modelling. Three years ago, Eastern Province Municipality (EPM) in Saudi Arabia mandated that all major projects be delivered with collaborative 3D BIM. After three years of implementation, EPM started to implement City Information Modelling (CIM) as a part of the Smart City Plan to link infrastructure and public services and modelling how people move around and interact with the city. This paper demonstrates a local case study of BIM implementation in EPM and its future as a part of project management automation; the paper also highlights the ambitious plan of EPM to transform CIM towards building smart cities.

Keywords: BIM, BIM to CIM

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Authors: Abdulla Almulla, Wafaa Mahdi

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Building materials can make a significant contribution to the level of natural radioactivity in closed dwelling areas. Therefore, developing an expert system for monitoring the activity concentrations (ACs) of naturally occurring radioactive materials (NORMs) existing in building materials is useful for limiting the population’s exposure to gamma radiation emitted from those materials. The present work not only is aimed at examining the indoor radon concentration emitted by the building materials that are originated from various countries but are commercially available in Kuwait, but also is aimed at developing an expert system for monitoring the radiation emitted from these materials and classifying it as normal (acceptable) or dangerous (unacceptable). This system makes it possible to always monitor any radiological risks to human health. When detecting high doses of radiation, the system gives warning messages.

Keywords: building materials, NORMs, HNBRA, radionuclides, activity concentrations, expert systems

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Authors: Ali A. Karakhan

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Stakeholders in the architecture, engineering, and construction (AEC) industry have been always searching for strategies to develop, design, and construct healthy and smart building projects. Healthy and smart building projects require that the building process including design and construction be altered and carefully implemented in order to bring about sustainable outcomes throughout the facility lifecycle. Healthy and smart building projects are expected to positively influence organizational success and facility performance across the project lifecycle leading to superior outcomes in terms of people, economy, and the environment. The present study aims to identify potential strategies that AEC organizations can implement to achieve healthy and smart building projects. Drivers and barriers for healthy and smart building features are also examined. The study findings indicate that there are three strategies to advance the development of healthy and smart building projects: (1) the incorporation of high-quality products and low chemical-emitting materials, (2) the integration of innovative designs, methods, and practices, and (3) the adoption of smart technology throughout the facility lifecycle. Satisfying external demands, achievement of a third-party certification, obtaining financial incentives, and a desire to fulfill professional duty are identified as the key drivers for developing healthy and smart building features; whereas, lack of knowledge and training, time/cost constrains, preference for/adherence to customary practices, and unclear business case for why healthy buildings are advantageous are recognized as the primary barriers toward a wider diffusion of healthy and smart building projects. The present study grounded in previous engineering, medical, and public health research provides valuable technical and practical recommendations for facility owners and industry professionals interested in pursuing sustainable, yet healthy and smart building projects.

Keywords: healthy buildings, smart construction, innovative designs, sustainable projects

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Authors: Ziwei Huang, Jian Ge, Jie Shen, Jiantao Weng

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Retrofitting of existing buildings plays a critical role to achieve sustainable development. This is being considered as one of the approaches to achieving sustainability in the built environment. In order to evaluate the different air-conditioning systems effectiveness and user satisfaction of the existing building which had transformed into green building effectively and accurately. This article takes the green office building in Zhejiang province, China as an example, analyzing the energy consumption, occupant satisfaction and indoor environment quality (IEQ) from the perspective of the thermal environment. This building is special because it combines ground source heat pump system and Variable Refrigerant Flow (VRF) air-conditioning system. Results showed that the ground source heat pump system(EUIa≈25.6) consumes more energy than VRF(EUIb≈23.8). In terms of a satisfaction survey, the use of the VRF air-conditioning was more satisfactory in temperature. However, the ground source heat pump is more satisfied in air quality.

Keywords: post-occupancy evaluation, green office building, air-conditioning systems, ground source heat pump system

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Authors: Diego A. Romero Espinosa

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Thermal simulations are used to evaluate comfort and energy consumption of buildings. However, the performance of different urban forms cannot be assessed precisely if an environmental control system and user schedules are considered. The outcome of such analysis would lead to conclusions that combine the building use, operation, services, envelope, orientation and density of the urban fabric. The influence of these factors varies during the life cycle of a building. The orientation, as well as the surroundings, can be considered a constant during the lifetime of a building. The structure impacts the thermal inertia and has the largest lifespan of all the building components. On the other hand, the building envelope is the most frequent renovated component of a building since it has a great impact on energy performance and comfort. Building services have a shorter lifespan and are replaced regularly. With the purpose of addressing the performance, an urban form, a specific orientation, and density, a thermal simulation method were developed. The solar irradiation is taken into consideration depending on the outdoor temperature. Incoming irradiation at low temperatures has a positive impact increasing the indoor temperature. Consequently, overheating would be the combination of high outdoor temperature and high irradiation at the façade. On this basis, the indoor temperature is simulated for a specific orientation of the evaluated urban form. Thermal inertia and building envelope performance are considered additionally as the materiality of the building. The results of different thermal zones are summarized using the 'Degree day method' for cooling and heating. During the early phase of a design process for a project, such as Masterplan, conclusions regarding urban form, density and materiality can be drawn by means of this analysis.

Keywords: building envelope, density, masterplanning, urban form

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Authors: Fally Titikpina, Abderafi Charki, Antoine Caucheteux, David Bigaud

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The building sector is one of the largest energy consumer with about 40% of the final energy consumption in the European Union. Ensuring building energy performance is of scientific, technological and sociological matter. To assess a building energy performance, the consumption being predicted or estimated during the design stage is compared with the measured consumption when the building is operational. When valuing this performance, many buildings show significant differences between the calculated and measured consumption. In order to assess the performance accurately and ensure the thermal efficiency of the building, it is necessary to evaluate the uncertainties involved not only in measurement but also those induced by the propagation of dynamic and static input data in the model being used. The evaluation of measurement uncertainty is based on both the knowledge about the measurement process and the input quantities which influence the result of measurement. Measurement uncertainty can be evaluated within the framework of conventional statistics presented in the \textit{Guide to the Expression of Measurement Uncertainty (GUM)} as well as by Bayesian Statistical Theory (BST). Another choice is the use of numerical methods like Monte Carlo Simulation (MCS). In this paper, we proposed to evaluate the uncertainty associated to the use of a simplified model for the estimation of the energy consumption of a given building. A detailed review and discussion of these three approaches (GUM, MCS and BST) is given. Therefore, an office building has been monitored and multiple sensors have been mounted on candidate locations to get required data. The monitored zone is composed of six offices and has an overall surface of 102 $m^2$. Temperature data, electrical and heating consumption, windows opening and occupancy rate are the features for our research work.

Keywords: building energy performance, uncertainty evaluation, GUM, bayesian approach, monte carlo method

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Authors: Ayodele E. Ikudayisi, Yomi M. D. Adedeji, Olumuyiwa B. Adegun

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The level of adoption of green building (GB) schemes in Nigeria is low. The prevailing focus on economic development has overshadowed sustainability concerns. Despite these, few project cases exist in Nigeria in which sustainability goals have been achieved. This study aims to draw lessons from these in order to understand the project attributes, certification status, and the delivery process. Through an exploratory case study approach, fifteen project cases across five cities in Nigeria were examined. These represent the first-generation of green buildings in Nigeria, a verifiable reference for future initiatives in Sub-Saharan Africa. From the result, three categories of green buildings were identified, namely certified projects, demonstration projects, and potential projects with varying delivery attributes. Then, it is concluded by setting research and practice agenda towards aligning Nigeria’s building industry with the global trends in sustainable building delivery.

Keywords: LEED, green building, Nigeria, project attributes

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Authors: Hongyu Ye, Hong Zhang, Minjie Sun, Hongfang Xu

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In the context of China's promotion of smart construction and building industrialization, there is a need for evaluation standards for the development of building industrialization based on assembly-type construction. However, the evaluation of smart construction remains a challenge in the industry's development process. This paper addresses this issue by proposing a calculation and evaluation method for the smartization rate of concrete structure building construction. The study focuses on examining the factors of smart equipment application and their impact on costs throughout the process of smart construction design, production, transfer, and construction. Based on this analysis, the paper presents an evaluation method for the smartization rate based on components. Furthermore, it introduces calculation methods for assessing the smartization rate of buildings. The paper also suggests a rapid calculation method for determining the smartization rate using Building Information Modeling (BIM) and information expression technology. The proposed research provides a foundation for the swift calculation of the smartization rate based on BIM and information technology. Ultimately, it aims to promote the development of smart construction and the construction of high-quality buildings in China.

Keywords: building industrialization, high quality building, smart construction, smartization rate, component

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Authors: Godwin Chigozie Okpara

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This paper using standard GARCH, EGARCH, and TARCH models on day of the week return series (of 246 days) from the Nigerian Stock market estimated the model variants’ VaR. An asymmetric return distribution and fat-tail phenomenon in financial time series were considered by estimating the models with normal, student t and generalized error distributions. The analysis based on Akaike Information Criterion suggests that the EGARCH model with student t innovation distribution can furnish more accurate estimate of VaR. In the light of this, we apply the likelihood ratio tests of proportional failure rates to VaR derived from EGARCH model in order to determine the short and long positions VaR performances. The result shows that as alpha ranges from 0.05 to 0.005 for short positions, the failure rate significantly exceeds the prescribed quintiles while it however shows no significant difference between the failure rate and the prescribed quantiles for long positions. This suggests that investors and portfolio managers in the Nigeria stock market have long trading position or can buy assets with concern on when the asset prices will fall. Precisely, the VaR estimates for the long position range from -4.7% for 95 percent confidence level to -10.3% for 99.5 percent confidence level.

Keywords: downside risk, value-at-risk, failure rate, kupiec LR tests, GARCH models

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Authors: Mukul Anand

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Quality oriented affordable shelter for all has always been the key issue in the housing sector of our country. Homelessness is the acute form of housing need. It is a paradox that in spite of innumerable government initiated programmes for affordable housing, certain section of society is still devoid of shelter. About nineteen million (18.78 million) households grapple with housing shortage in Urban India in 2012. In Indian scenario there is major mismatch between the people for whom the houses are being built and those who need them. The prime force faced by public authorities in facilitation of quality housing for all is high cost of construction. The present paper will comprehend executable techniques for dilution of cost factor in housing the homeless. The key actors responsible for delivery of cheap housing stock such as capacity building, resource optimization, innovative low cost building material and indigenous skeleton housing system will also be incorporated in developing these techniques. Time performance, which is an important angle of above actors, will also be explored so as to increase the effectiveness of low cost housing. Along with this best practices will be taken up as case studies where both conventional techniques of housing and innovative low cost housing techniques would be cited. Transportation consists of approximately 30% of total construction budget. Thus use of alternative local solutions depending upon the region would be covered so as to highlight major components of low cost housing. Government is laid back regarding base line information on use of innovative low cost method and technique of resource optimization. Therefore, the paper would be an attempt to bring to light simpler solutions for achieving low cost housing.

Keywords: construction, cost, housing, optimization, shelter

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Authors: Mohammadreza Baradaran, F. Hamzezarghani

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Every year in different points of the world it occurs with different strengths and thousands of people lose their lives because of this natural phenomenon. One of the reasons for destruction of buildings because of earthquake in addition to the passing of time and the effect of environmental conditions and the wearing-out of a building is changing the uses of the building and change the structure and skeleton of the building. A large number of structures that are located in earthquake bearing areas have been designed according to the old quake design regulations which are out dated. In addition, many of the major earthquakes which have occurred in recent years, emphasize retrofitting to decrease the dangers of quakes. Retrofitting structural quakes available is one of the most effective methods for reducing dangers and compensating lack of resistance caused by the weaknesses existing. In this article the foundation of a five-floor steel building with the moment frame system has been evaluated for quakes and the effect of adding a floor to this five-floor steel building has been evaluated and analyzed. The considered building is with a metallic skeleton and a piled roof and clayed block which after addition of a floor has increased to a six-floor foundation of 1416 square meters, and the height of the sixth floor from ground state has increased 18.95 meters. After analysis of the foundation model, the behavior of the soil under the foundation and also the behavior of the body or element of the foundation has been evaluated and the model of the foundation and its type of change in form and the amount of stress of the soil under the foundation for some of the composition has been determined many times in the SAFE software modeling and finally the need for retrofitting of the building's foundation has been determined.

Keywords: seismic, rehabilitation, steel building, foundation

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Authors: Ushir Daya, Zenadene Lazarus, Dimelle Moodley, Ehsan Saghatforoush

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It was found through literature that there is a lack of implementation of the Internet of Things (IoT) incorporated into Building Information Modelling (BIM) in South Africa. The research aims to find if the implementation of IoT into BIM will make BIM more useful during the maintenance stage of buildings and assist facility managers when doing their job. The research will look at the existing problematic areas with building information modelling, specifically BIM 7D. This paper will look at the capabilities of IoT and what issues IoT will be able to resolve in BIM software, as well as how IoT into BIM will assist facility managers and if such an implementation will make a facility manager's job more efficient.

Keywords: internet of things, building information modeling, facilities management, structural health monitoring

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Authors: H. Ahmed, A. Persson, L. Sundqvist, B. Biorkman

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Numerous amounts of metallurgical dusts and sludge containing iron as well as some other valuable elements such as Zn, Pb and C are annually produced in the steelmaking industry. These alternative iron ore resources (fines) with unsatisfying physical and metallurgical properties are difficult to recycle. However, agglomerating these fines to be further used as a feed stock for existing iron and steel making processes is practiced successfully at several plants but for limited extent. In the present study, briquettes of integrated steelmaking industry waste materials (namely, BF-dust and sludge, BOF-dust and sludge) were used as feed stock to produce direct reduced iron (DRI). Physical and metallurgical properties of produced briquettes were investigated by means of TGA/DTA/QMS in combination with XRD. Swelling, softening and melting behavior were also studied using heating microscope.

Keywords: iron and steel wastes, recycling, self-reducing briquettes, thermogravimetry

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Authors: Maher Agi, Hardik Soni

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This paper presents a deterministic model for optimized control of the inventory of a perishable product subject to both physical deterioration and degradation of its freshness condition. The demand for the product depends on its current inventory level and freshness condition. Our model allows for any positive amount of end of cycle inventory. Some useful conditions that characterize the optimal solution of the model are derived and an algorithm is presented for finding the optimal values of the price, the inventory cycle, the end of cycle inventory level and the order quantity. Numerical examples are then given. Our work shows how the product freshness in conjunction with the inventory deterioration affects the inventory management decisions.

Keywords: inventory management, lot sizing, perishable products, deteriorating inventory, age-dependent demand, stock-dependent demand

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Authors: Lina Najafian, Hamidreza Vakilifard

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The present study focused on the relationship between the quality of accruals and non-systematic risk. The independent study variables included the ability of accruals, the information content of accruals, and amount of discretionary accruals considered as accruals quality measures. The dependent variable was non-systematic risk based on the Fama and French Three Factor model (FFTFM) and the capital asset pricing model (CAPM). The control variables were firm size, financial leverage, stock return, cash flow fluctuations, and book-to-market ratio. The data collection method was based on library research and document mining including financial statements. Multiple regression analysis was used to analyze the data. The study results showed that there is a significant direct relationship between financial leverage and discretionary accruals and non-systematic risk based on FFTFM and CAPM. There is also a significant direct relationship between the ability of accruals, information content of accruals, firm size, and stock return and non-systematic based on both models. It was also found that there is no relationship between book-to-market ratio and cash flow fluctuations and non-systematic risk.

Keywords: accruals quality, non-systematic risk, CAPM, FFTFM

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Authors: Su-Ping Liu, Yue Tian, Yifan Shen

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This study investigates the effect of corporate governance on earnings management when firms have reported a long stream of earnings increases (hereafter referred to as earnings beaters). We expect that good quality of corporate governance decreases the probability of income-increasing earnings management. We employ transparent tools to capture firms’ opportunistic management behavior, specifically, the repurchase of stock. In addition, we use corporate governance proxies to measure the degree of corporate governance, including board size, board independence, CEO duality, and the frequency of meeting. The results hold after the controlling of variables that suggested in prior literature. We expect that the simple technique, that is, firms’ degree of corporate governance, to be used as an inexpensive first step in detecting earnings management.

Keywords: corporate governance, earnings management, earnings patterns, stock repurchase

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Authors: Kwok Tak Kit

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Combating climate change is becoming a hot topic in various sectors. Building construction and infrastructure sectors contributed a significant proportion of waste and GHGs emissions in the economy of different countries and cities. Many types of research had conducted and discussed the topic of waste management and waste management being a macro-level control is well developed in the building and construction industry. However, there is little research and studies on the micro-level of waste management, “building construction material wastage management,” and fewer reviews about regulatory control in the building construction sector. In this paper, we will focus on the potentialities and importance of material wastage management and review the deficiencies of the current standard to take into account the reduction of material wastage in a systematic and quantitative approach.

Keywords: quantitative measurement, material wastage management plan, waste management, uncalculated waste, circular economy

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Authors: Manel Youssef, Lotfi Belkacem

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This paper employs multivariate long memory GARCH models to simultaneously estimate mean and conditional variance spillover effects between oil prices and different financial markets. Since different financial assets are traded based on these market sector returns, it’s important for financial market participants to understand the volatility transmission mechanism over time and across these series in order to make optimal portfolio allocation decisions. We examine weekly returns from January 1, 2003 to November 30, 2012 and find evidence of significant transmission of shocks and volatilities between oil prices and some of the examined financial markets. The findings support the idea of cross-market hedging and sharing of common information by investors.

Keywords: oil prices, stock indices returns, oil volatility, contagion, DCC-multivariate (FI) GARCH

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Authors: Michel Moliere

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In the next decades, the thermal power generation segment will survive only if it achieves deep mutations, including drastical abatements of CO2 emissions and strong efficiency gains. In this challenging perspective, stationary gas turbines appear as serious candidates to lead the energy transition. Indeed, during the past decades, these turbomachines have made brisk technological advances in terms of efficiency, reliability, fuel flex (including the combustion of hydrogen), and the ability to hybridize with regenrables. It is, therefore, timely to summarize the progresses achieved by gas turbines in the recent past and to examine what are their assets to face the challenges of the energy transition.

Keywords: energy transition, gas turbines, decarbonization, power generation

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Authors: Gurmail Singh

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Effective supply chain is the main priority of every organization which is the outcome of strategic corporate investments with deliberate management action. Value-driven supply chain is defined through development, procurement and by configuring the appropriate resources, metrics and processes. However, responsiveness of the supply chain can be improved by proper coordination. So the Bullwhip effect (BWE) and Net stock amplification (NSAmp) values were anticipated and used for the control of inventory in organizations by both discrete wavelet transform-Artificial neural network (DWT-ANN) and Adaptive Network-based fuzzy inference system (ANFIS). This work presents a comparative methodology of forecasting for the customers demand which is non linear in nature for a multilevel supply chain structure using hybrid techniques such as Artificial intelligence techniques including Artificial neural networks (ANN) and Adaptive Network-based fuzzy inference system (ANFIS) and Discrete wavelet theory (DWT). The productiveness of these forecasting models are shown by computing the data from real world problems for Bullwhip effect and Net stock amplification. The results showed that these parameters were comparatively less in case of discrete wavelet transform-Artificial neural network (DWT-ANN) model and using Adaptive network-based fuzzy inference system (ANFIS).

Keywords: bullwhip effect, hybrid techniques, net stock amplification, supply chain flexibility

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Authors: Wee Tong Liaw, Elaine Wong Yee Sing

Abstract:

The main objective and focus of this study are to establish the significance of a sustained health promoting workplace on stock and portfolio returns focusing on companies listed on the Singapore stock exchange, using a two-factor model comprising of the single factor CAPM and a 'health promoting workplace' factor. The 'health promoting workplace' factor represents the excess returns derived between two portfolios of component stocks that, when combined, would represent a top tier stock market index in Singapore, namely the STI index. The first portfolio represents companies that are independently assessed by the Singapore’s Health Award, SHA, to have a sustained and comprehensive health promoting workplace (SHA-STI portfolio) and the second portfolio represents companies that had not been independently assessed (Non-SHA STI portfolio). Since 2001, many companies in Singapore have voluntarily participated in the bi-annual Singapore HEALTH Award initiated by the Health Promotion Board of Singapore (HPB). The Singapore HEALTH Award (SHA), is an industry-wide award and assessment process. SHA assesses and recognizes employers in Singapore for implementing a comprehensive and sustainable health promotion programme at their workplaces. When using a ten year holding period instead of a one year holding period, excess returns in the SHA-STI portfolio over Non-SHA STI portfolio were consistently being observed over all test periods, during 2001 to 2013. In addition, when applied to the SHA-STI portfolio, results from the Two Factor Model consistently revealed higher explanatory powers across all test periods for the portfolio as well as all the individual component stocks in SHA-STI portfolio, than the single factor CAPM model. However, with respect to attaining higher level of achievement in the Singapore Health Award, this study did not show any incentive for selecting listed companies that have achieved a higher level of award. Results from this study would give further insights to investors and fund managers alike who intend to consider health promoting workplace as a risk factor in their stock or portfolio selection process, in particular for investors who have a preference for STI’s component stocks and with a longer investment horizon. Key micro factors like management abilities, business development strategies and production capabilities that meet the needs of market would create the demand for a company’s product(s) or service(s) and consequently contribute to its top line and profitability. Thereafter, the existence of a sustainable health promoting workplace would be a key catalytic factor in sustaining a productive workforce needed to support the continued success of a profitable business.

Keywords: asset pricing model, company's performance, stock returns, financial risk factor, sustained health promoting workplace

Procedia PDF Downloads 156

Authors: Vesna Pungercar, Florian Musso

Abstract:

Identifying materials that can substitute rare or expensive natural resources is one of the key challenges for improving resource efficiency in the building sector. With a growing world population and rising living standards, more and more salt is produced as waste through seawater desalination and potash mining processes. Unfortunately, most of the salt is directly disposed of into nature, where it causes environmental pollution. On the other hand, salt is affordable, is used therapeutically in various respiratory treatments, and can store humidity and heat. It was, therefore, necessary to determine salt materials already in use in building construction and their hygrothermal properties. This research aims to identify salt materials from different scientific branches and historically, to investigate their properties and prioritize the most promising salt materials for indoor applications in a thermal envelope. This was realized through literature review and classification of salt materials into three groups (raw salt materials, composite salt materials, and processed salt materials). The outcome of this research shows that salt has already been used as a building material for centuries and has a potential for future applications due to its hygrothermal properties in a thermal envelope.

Keywords: salt, building material, hygrothermal properties, environment

Procedia PDF Downloads 149