Search results for: historic investment

Authors: Damien Kunjal, Faeezah Peerbhai

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Despite the increasing popularity of exchange-traded funds (ETFs), ETF investment choices may not always be rational. Excess trading volume, misevaluations of securities, and excess return volatility present in financial markets can be attributed to the influence of the overconfidence bias. Whilst previous research has explored the overconfidence bias in stock markets; this study focuses on trading in ETF markets. Therefore, the objective of this study is to investigate the presence of investor overconfidence in the South African ETF market. Using vector autoregressive models, the lead-lag relationship between market turnover and the market return is examined for the market of South African ETFs tracking domestic benchmarks and for the market of South African ETFs tracking international benchmarks over the period November 2000 till August 2019. Consistent with the overconfidence hypothesis, a positive relationship between current market turnover and lagged market return is found for both markets, even after controlling for market volatility and cross-sectional dispersion. This relationship holds for both market and individual ETF turnover suggesting that investors are overconfident when trading in South African ETFs tracking domestic benchmarks and South African ETFs tracking international benchmarks since trading activity depends on past market returns. Additionally, using the global recession as a structural break, this study finds that investor overconfidence is more pronounced after the global recession suggesting that investors perceive ETFs as risk-reducing assets due to their diversification benefits. Overall, the results of this study indicate that the overconfidence bias has a significant influence on ETF investment choices, therefore, suggesting that the South African ETF market is inefficient since investors’ decisions are based on their biases. As a result, the effect of investor overconfidence can account for the difference between the fair value of ETFs and its current market price. This finding has implications for policymakers whose responsibility is to promote the efficiency of the South African ETF market as well as ETF investors and traders who trade in the South African ETF market.

Keywords: exchange-traded fund, market return, market turnover, overconfidence, trading activity

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Authors: S. Vavias, T. R. Brewer, T. S. Farewell

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Coastal floods have been identified as an important natural hazard that can cause significant damage to the populated built-up areas, related infrastructure and also ecosystems and habitats. This study attempts to fill the gap associated with the development of preliminary assessments of coastal flood vulnerability for compliance with the EU Directive on the Assessment and Management of Flood Risks (2007/60/EC). In this context, a methodology has been created by taking into account three major parameters; the maximum wave run-up modelled from historical weather observations, the highest tide according to historic time series, and the sea level rise projections due to climate change. A high resolution digital terrain model (DTM) derived from LIDAR data has been used to integrate the estimated flood events in a GIS environment. The flood vulnerability map created shows potential risk areas and can play a crucial role in the coastal zone planning process. The proposed method has the potential to be a powerful tool for policy and decision makers for spatial planning and strategic management.

Keywords: coastal floods, vulnerability mapping, climate change, extreme weather events

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Authors: Wasaporn Techapeeraparnich

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Bringing private investor involving in providing public infrastructure have been increasingly used worldwide, and there is no exception for developing countries like Thailand. Recently, there is a huge investment opportunity for public-private partnership (PPP) in Thailand, especially in the transportation sector. This paper analyses the development of the PPP since the early beginning of PPP in different service sectors. It also summarizes the development of PPP and its application in terms of usage, opportunities and trends particularly in the transport sector. The results are aimed to draw some lessons learned for future development.

Keywords: case study, public-private partnership, transportation, Thailand

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Authors: Yasir Memon

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The complexity and challenges in the offshore industry are increasing more than the past. The oil and gas industry is expanding every day by accomplishing these challenges. More challenging wells such as longer and deeper are being drilled in today’s environment. Blowout prevention phenomena hold a worthy importance in oil and gas biosphere. In recent, so many past years when the oil and gas industry was growing drilling operation were extremely dangerous. There was none technology to determine the pressure of reservoir and drilling hence was blind operation. A blowout arises when an uncontrolled reservoir pressure enters in wellbore. A potential of blowout in the oil industry is the danger for the both environment and the human life. Environmental damage, state/country regulators, and the capital investment causes in loss. There are many cases of blowout in the oil the gas industry caused damage to both human and the environment. A huge capital investment is being in used to stop happening of blowout through all over the biosphere to bring damage at the lowest level. The objective of this study is to promote safety and good resources to assure safety and environmental integrity in all operations during drilling. This study shows that human errors and management failure is the main cause of blowout therefore proper management with the wise use of precautions, prevention methods or controlling techniques can reduce the probability of blowout to a minimum level. It also discusses basic procedures, concepts and equipment involved in well control methods and various steps using at various conditions. Furthermore, another aim of this study work is to highlight management role in oil gas operations. Moreover, this study analyze the causes of Blowout of Macondo well occurred in the Gulf of Mexico on April 20, 2010, and deliver the recommendations and analysis of various aspect of well control methods and also provides the list of mistakes and compromises that British Petroleum and its partner were making during drilling and well completion methods and also the Macondo well disaster happened due to various safety and development rules violation. This case study concludes that Macondo well blowout disaster could be avoided with proper management of their personnel’s and communication between them and by following safety rules/laws it could be brought to minimum environmental damage.

Keywords: energy, environment, oil and gas industry, Macondo well accident

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Authors: Siyanda S. Biyela, Willie A. Cronje

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This paper presents a desktop study of comparing two different wave energy to electricity technologies (WECs) using a techno-economic approach. This techno-economic approach forms basis of a framework for rapid comparison of current and future technologies. The approach also seeks to assist in investment and strategic decision making expediting future deployment of wave energy harvesting in South Africa.

Keywords: cost of energy (COE) tool, sea state, wave energy converter (WEC), WEC-Sim

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Authors: S. Sadallah

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In this paper, dynamic programming is used to determine the optimal management of financial resources in company. Solution of the problem by consider into simpler substructures is constructed. The optimal management of internal capital of company are simulated. The tools applied in this development are based on graph theory. The software of given problems is built by using greedy algorithm. The obtained model and program maintenance enable us to define the optimal version of management of proper financial flows by using visual diagram on each level of investment.

Keywords: management, software, optimal, greedy algorithm, graph-diagram

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Authors: Mohammed Alnuwairan, Mahmoud Abdelrahman

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Based on the sustainability concept, this paper explores the current situation of construction and demolition waste (C&D) in the Kingdom of Saudi Arabia (KSA) from the source of production to final destinations. The issues that hindered the investment of recycling C&D in the context will be studied in order to identify the challenges and opportunities to improve this sector and put forward a strategic framework to reduce, reuse, recycle and minimize the disposal of this type of waste. The research, which is exploratory in nature, identified four types of organizations that were appropriate case studies. These organizations were drawn from the municipalities, city council, recyclers and manufacturers. Secondary data collection, direct observation, and elite interviewing methods were used in the case studies to facilitate comparisons with existing literature to explore opportunities to improve sustainability practices in the buildings sector. Implementation of C&D waste management and recycling in KSA is in the early stages. Resistance of virgin building material manufacturers, free usage of landfill, culture, surpluses of natural raw material, availability of land and the cost of recycling this material compared with virgin material hinders the adoption of recycled buildings martial. Although the metal material is collected and recycled but it has the lowest percentage of C&D waste in Saudi. The findings indicate that government and industry need to collaborate more closely in order to successfully implement best practices. Economic and environmental benefits can be achieved, particularly through improvements to infrastructure and legislation. Feasible solution framework and recommendations for managing C&D waste under current situation are provided. The findings can be used to extend this framework and to enable it to be applicable in other context with emerging economies similar to that found in KSA. No study of this type has been previously carried out in KSA. The findings should prove useful in creating a future research agenda for C&D waste in KSA and, possibly, other emerging countries within a similar context.

Keywords: construction and demolition waste, recycling, reuse, sustainability

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Authors: Rohit Kapoor

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In this paper, an attempt is made to formulate 3-echelon repairable parts inventory system under (S-1, S) policy. This analytical model is the extension of an exact formulation of two - echelon repairable parts inventory system, already reported in the established literature. In the present paper, we try to formulate the total cost expression consisting of two components, viz., system investment cost and expected backorder cost.

Keywords: (S-1, S) inventory policy, multi-echelon inventory system, repairable parts

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Authors: Periklis Brakatsoulas

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Recent empirical research shows a growing interest in investment decision-making under market anomalies that contradict the rational paradigm. Momentum is undoubtedly one of the most robust anomalies in the empirical asset pricing research and remains surprisingly lucrative ever since first documented. Although predominantly phenomena identified across equities, momentum premia are now evident across various asset classes. Yet few many attempts are made so far to provide traders a diversified portfolio of strategies across different assets and markets. Moreover, literature focuses on patterns from past returns rather than mechanisms to signal future price directions prior to momentum runs. The aim of this paper is to develop a diversified portfolio approach to price distortion signals using daily position data on stocks, credit derivatives, and bonds. An algorithm allocates assets periodically, and new investment tactics take over upon price momentum signals and across different ranking groups. We focus on momentum life cycles, trend reversals, and price acceleration signals. The main effort here concentrates on the density, time span and maturity of momentum phenomena to identify consistent patterns over time and measure the predictive power of buy-sell signals generated by these anomalies. To tackle this, we propose a two-stage modelling process. First, we generate forecasts on core macroeconomic drivers. Secondly, satellite models generate market risk forecasts using the core driver projections generated at the first stage as input. Moreover, using a combination of the ARFIMA and FIGARCH models, we examine the dependence of consecutive observations across time and portfolio assets since long memory behavior in volatilities of one market appears to trigger persistent volatility patterns across other markets. We believe that this is the first work that employs evidence of volatility transmissions among derivatives, equities, and bonds to identify momentum life cycle patterns.

Keywords: forecasting, long memory, momentum, returns

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Authors: Xu Yingqiang, Wang Zhongde

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In the age of stock development, the contradiction between the protection and development of historical blocks in China has become increasingly prominent, among which how to reconcile the contradiction between tourists and local residents and inherit urban culture is an important proposition. Based on this, this paper introduces the theory of " staged authenticity ", combs its development process and related research progress, constructs an analysis and research model of historical blocks based on the theory of " staged authenticity ", and puts forward the protection and renewal strategy of historical blocks from the perspective of " staged authenticity ", which provides theoretical basis for coordinating the tourism-residence contradiction and protecting urban characteristics in the protection and renewal of historical blocks. The research holds that we should pay attention to the important value of "curtain" space, rationally arrange "curtain" and divide "foreground" and "background"; extract "props" from real history and culture to restore the authenticity of "stage" scenes; clever arrangement of tour streamline, so that all scenes are connected in series rhythmically; make the "actors" perform interactively in the "foreground" space, so as to enhance the "audience" sense of scene substitution.

Keywords: historic block, protection and renewal, staged authenticity, curtain

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Authors: Manal Elsayed Elkheshin, Rasha Saleh Mansour, Mohamed Fawzy Mohamed Eldnasury, Mamdouh Elbadry Mohamed

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This research Aims to identify the main factors affecting the production and the fish consumption in Egypt, through the econometric estimation for various forms functions of fish production and fish consumption during the period (1991-2014), as the aim of this research to forecast the production and the fish consumption in Egypt until 2020, through determine the best standard methods using (ARIMA).This research also aims to the economic feasibility of the production of fish in aquaculture farms study; investment cost and represents the value of land, buildings, equipment and irrigation. Aquaculture requires three types of fish (Tilapia, carp fish, and mullet fish), and the total area of the farm, about an acre. The annual Fish production from this project about 3.5 tons. The annual investment costs of about 50500 pounds, Find conclude that the project can repay the cost of their investments after about 4 years and 5 months, and therefore recommend the implementation of the project, and internal rate of return reached (IRR) of about 22.1%, where it is clear that the rate of large internal rate of return, and achieves pound invested in this project annual return is estimated at 22.1 pounds, more than the opportunity cost, so we recommend the need to implement the project.Recommendations:1. Increasing the fish agriculture to decrease the gap of animal protein. 2.Increasing the number of mechanism fishing boats, and the provision of transport equipped to maintain the quality of fish production. 3.Encourage and attract the local and foreign investments, providing advice to the investor on the aquaculture field. 4. Action newsletters awareness of the importance of these projects where these projects resulted in a net profit after recovery in less than five years, IRR amounted to about 23%, which is much more than the opportunity cost of a bank interest rate is about 7%, helping to create work and graduates opportunities, and contribute to the reduction of imports of the fish, and improve the performance of the food trade balance.

Keywords: equation model, individual share, red meat, consumption, production, endogenous variable, exogenous variable, financial performance evaluates fish culture, feasibility study, fish production, aquaculture

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Authors: H. H. Goh, K. C. Goh, T. W. Seow, N. S. Said, S. E. P. Ang

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Malaysia is rich with historic buildings, particularly in Penang and Malacca states. Restoration activities are increasingly important as these states are recognized under UNESCO World Heritage Sites. Restoration activities help to maintain the uniqueness and value of a heritage building. However, increasing in restoration activities has resulted in large quantities of waste. To cope with this problem, the 3R concept (reduce, reuse and recycle) is introduced. The 3R concept is one of the waste management hierarchies. This concept is still yet to apply in the building restoration industry compared to the construction industry. Therefore, this study aims to promote the 3R concept in the heritage building restoration industry. This study aims to examine the importance of 3R concept and to identify challenges in applying the 3R concept in the heritage building restoration industry. This study focused on contractors and consultants who are involved in heritage restoration projects in Penang. Literature review and interviews helps to reach the research objective. Data that obtained is analyzed by using content analysis. For the research, application of 3R concept is important to conserve natural resources and reduce pollution problems. However, limited space to organise waste is the obstruction during the implementation of this concept. In conclusion, the 3R concept plays an important role in promoting environmental conservation and helping in reducing the construction waste

Keywords: 3R Concept, heritage building, restoration activities, building science

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Authors: Maisam Rafiee, Chikashi Deguchi, Akio Odake, Minoru Matsui, Takanori Sata

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Cities in Afghanistan have been rapidly urbanized; however, many parts of these cities have been developed with no detailed land use plan or infrastructure. In other words, they have been informally developed without any government leadership. The new government started the In-situ Upgrading Project in Kabul to upgrade roads, the water supply network system, and the surface water drainage system on the existing street layout in 2002, with the financial support of international agencies. This project is an appropriate emergency improvement for living life, but not an essential improvement of living conditions and infrastructure problems because the life expectancies of the improved facilities are as short as 10–15 years, and residents cannot obtain land tenure in the unplanned areas. The Land Readjustment System (LRS) conducted in Japan has good advantages that rearrange irregularly shaped land lots and develop the infrastructure effectively. This study investigates the effects of the In-situ Upgrading Project on private investment, land prices, and residents’ satisfaction with projects in Kart-e-Char, where properties are registered, and in Afshar-e-Silo Lot 1, where properties are unregistered. These projects are located 5 km and 7 km from the CBD area of Kabul, respectively. This study discusses whether LRS should be applied to the unplanned area based on the questionnaire and interview responses of experts experienced in the In-situ Upgrading Project who have knowledge of LRS. The analysis results reveal that, in Kart-e-Char, a lot of private investment has been made in the construction of medium-rise (five- to nine-story) buildings for commercial and residential purposes. Land values have also incrementally increased since the project, and residents are commonly satisfied with the road pavement, drainage systems, and water supplies, but dissatisfied with the poor delivery of electricity as well as the lack of public facilities (e.g., parks and sport facilities). In Afshar-e-Silo Lot 1, basic infrastructures like paved roads and surface water drainage systems have improved from the project. After the project, a few four- and five-story residential buildings were built with very low-level private investments, but significant increases in land prices were not evident. The residents are satisfied with the contribution ratio, drainage system, and small increase in land price, but there is still no drinking water supply system or tenure security; moreover, there are substandard paved roads and a lack of public facilities, such as parks, sport facilities, mosques, and schools. The results of the questionnaire and interviews with the four engineers highlight the problems that remain to be solved in the unplanned areas if LRS is applied—namely, land use differences, types and conditions of the infrastructure still to be installed by the project, and time spent for positive consensus building among the residents, given the project’s budget limitation.

Keywords: in-situ upgrading, Kabul city, land readjustment, land value, planned area, private investment, residents' satisfaction, unplanned area

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Authors: Turgut Ayten, Tayfun Çay

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In the current expropriation of Turkey, the state acquires necessary lands for its investment without permission of the owners and not searching for alternative solutions, so it is determined that neither processor nor processed is not happy. In this study, interactions of enterprises in Turkey are analysed in case the necessary land for public investments are acquired by expropriation purposed land consolidation. Legal basis, positive and negative sides, financial effects to enterprises of this method is evaluated according to Konya Kadınhanı, Kolukısa avenue which is on the Konya-Ankara High-Speed Train Route.

Keywords: expropriation, land consolidation, land consolidation for expropriation purpose, sustainable rural development

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Authors: Carlos Joel Tchawouo Mbiada

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At the back of the apartheid era, South Africa embarked on a democratic drive of all its institution underpinned by a social justice perspective to eradicate past injustices. These democratic values based on fundamental human rights and equality informed all rights enshrined in the Constitution of the Republic of South Africa, 1996. This means that all rights are therefore infused by social justice perspective and labour rights are no exception. Labour law is therefore regulated to the extent that it is viewed as too rigid. Hence a call for more flexibility to enhance investment and boost job creation. This view articulated by the Free Market Foundation fell on deaf ears as the opponents believe in what is termed regulated flexibility which affords greater protection to vulnerable workers while promoting business opportunities and investment. The question that this paper seeks to examine is to what extent the regulation of labour law will go to protect employees. This question is prompted by the recent Constitutional Court’s judgment of National Union of Metalworkers of South Africa v Trenstar which barred the employer from employing labour replacement in response to the strike action by its employees. The question whether employers may use replacement labour and have recourse to lock-outs in response to strike action is considered in the context of the dichotomy between the Free market foundation and social justice perspectives which are at loggerheads in the South African collective bargaining process. With the current unemployment rate soaring constantly, the aftermath of the Covid 19 pandemic, the effects of the war in Ukraine and lately the financial burden of load shedding on companies to run their businesses, this paper argues for a policy shift toward deregulation or a lesser state and judiciary intervention. This initiative will relieve the burden on companies to run a viable business while at the same time protecting existing jobs.

Keywords: labour law, replacement labour, right to strike, free market foundation perspective, social justice perspective

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Authors: David Broussard

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This review article delves into the realm of marine conservation finance, addressing the inadequacies in current financial streams from the private sector and the underutilization of existing financing mechanisms. The study emphasizes the emerging field of “blue finance”, which contributes to economic growth, improved livelihoods, and marine ecosystem health. The financial burden of marine conservation projects typically falls on philanthropists and governments, contrary to the polluter-pays principle. However, the private sector’s increasing commitment to NetZero and growing environmental and social responsibility goals prompts the need for alternative funding sources for marine conservation initiatives like marine protected areas. The article explores the potential of utilizing several financing mechanisms like carbon credits and other forms of payment for ecosystem services in the marine context, providing a solution to the lack of private funding for marine conservation. The methodology employed involves a systematic and quantitative approach, combining traditional review methods and elements of meta-analysis. A comprehensive search of the years 2000 - 2023, using relevant keywords on the Scopus platform, resulted in a review of 252 articles. The temporal evolution of blue finance studies reveals a significant increase in annual articles from 2010 to 2022, with notable peaks in 2011 and 2022. Marine Policy, Ecosystem Services, and Frontiers in Marine Science are prominent journals in this field. While the majority of articles focus on payment for ecosystem services, there is a growing awareness of the need for holistic approaches in conservation finance. Utilizing bibliometric techniques, the article showcases the dominant share of payment for ecosystem services in the literature with a focus on blue carbon. The classification of articles based on various criteria, including financing mechanisms and conservation types, aids in categorizing and understanding the diversity of research objectives and perspectives in this complex field of marine conservation finance.

Keywords: biodiversity offsets, carbon credits, ecosystem services, impact investment, payment for ecosystem services

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Authors: Mohammed El-Arbi Khalfallah, Mohamed Lakhdar Hadji

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Managing and controlling risk is a topic research in the world of finance. Before a risky situation, the stakeholders need to do comparison according to the positions and actions, and financial institutions must take measures of a particular market risk and credit. In this work, we study a model of risk measure in finance: Value at Risk (VaR), which is a new tool for measuring an entity's exposure risk. We explain the concept of value at risk, your average, tail, and describe the three methods for computing: Parametric method, Historical method, and numerical method of Monte Carlo. Finally, we briefly describe advantages and disadvantages of the three methods for computing value at risk.

Keywords: average value at risk, conditional value at risk, tail value at risk, value at risk

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Authors: Christina Kalogirou

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Investigating the integration of bioclimatic design into vernacular architecture could lead to interesting results regarding the preservation of cultural heritage while enhancing the energy efficiency of historic buildings. Furthermore, these recognized principles and systems of bioclimatic design in vernacular settlements could be applied to modern architecture and thus to new buildings in such areas. This study introduces an approach to categorizing distinct technologies and design principles of bioclimatic design based on a thoughtful approach to various climatic zones and environment in Greece (mountainous areas, islands and lowlands). For this purpose, various types of dwellings are evaluated for their response to climate, regarding the layout of the buildings (orientation, floor plans’ shape, semi-open spaces), the site planning, the openings (size, position, protection), the building envelope (walls: construction materials-thickness, roof construction detailing) and the migratory living pattern according to seasonal needs. As a result, various passive design principles (that could be adapted to current architectural practice in such areas, in order to optimize the relationship between site, building, climate and energy efficiency) are proposed.

Keywords: bioclimatic design, buildings physics, climatic zones, energy efficiency, vernacular architecture

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Authors: C. Recommandé, J. C. Blind, A. Clavel, R. Gourichon, V. Le Gal

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Simulations are developed in this paper with usual DSGE model equations. The model is based on simplified version of Smets-Wouters equations in use at European Central Bank which implies 10 macro-economic variables: consumption, investment, wages, inflation, capital stock, interest rates, production, capital accumulation, labour and credit rate, and allows take into consideration the banking system. Throughout the simulations, this model will be used to evaluate the impact of rate shocks recounting the actions of the European Central Bank during 2008.

Keywords: CC-LM, Central Bank, DSGE, liquidity shock, non-standard intervention

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Authors: Laurent Debailleux

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Although past research has focused on parameters influencing the vulnerability of brick and its decay, in practice ancient fired clay bricks are usually replaced without any particular assessment of their characteristics. This paper presents results of non-destructive Schmidt hammer tests performed on ancient fired clay bricks sampled from historic masonry. Samples under study were manufactured between the 18th and 20th century and came from facades and interior walls. Tests were performed on three distinct brick surfaces, depending on their position within the masonry unit. Schmidt hammer tests were carried out in order to measure the mean rebound value (Rn), which refers to the resistance of the surface to successive impacts of the hammer plunger tip. Results indicate that rebound values increased with successive impacts at the same point. Therefore, mean Schmidt hammer rebound values (Rn), limited to the first impact on a surface minimises the estimation of compressive strength. In addition, the results illustrate that this technique is sensitive enough to measure weathering differences, even for different surfaces of a particular sample. Finally, the paper also highlights the relevance of considering the position of the brick within the masonry when conducting particular assessments of the material’s strength.

Keywords: brick, non-destructive tests, rebound number, Schmidt hammer, weathering grade

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Authors: Terri Cole, Fay Sweeting

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Abuse of position for sexual gain by police is defined as behavior involving individuals taking advantage of their role to pursue a sexual or improper relationship. Previous research has considered whether it involves ‘bad apples’ - individuals with poor moral ethos or ‘bad barrels’ – broader organizational flaws which may unconsciously allow, minimize, or do not effectively deal with such behavior. Low level sexual misconduct (e.g., consensual sex on duty) is more common than more serious offences (e.g., rape), yet the impact of such behavior can have severe implications not only for those involved but can also negatively undermine public confidence in the police. This ongoing, collaborative research project has identified variables from 514 historic case files from 35 UK police forces in order to identify potential risk indicators which may lead to such behavior. Quantitative analysis using logistic regression and the Cox proportion hazard model has resulted in the identification of specific risk factors of significance in prediction. Factors relating to both perpetrator background such as a history of intimate partner violence, debt, and substance misuse coupled with in work behavior such as misusing police systems increase the risk. Findings are able to provide pragmatic recommendations for those tasked with identifying potential or investigating suspected perpetrators of misconduct.

Keywords: abuse of position, forensic psychology, misconduct, sexual abuse

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Authors: Kashif Hassan, M.A. Ahanger

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Floods have become more frequent and severe due to effects of global climate change and human alterations of the natural environment. Flood prediction/ forecasting and control is one of the greatest challenges facing the world today. The forecast of floods is achieved by the use of hydraulic models such as HEC-RAS, which are designed to simulate flow processes of the surface water. Extreme flood events in river Jhelum , lasting from a day to few are a major disaster in the State of Jammu and Kashmir, India. In the present study HEC-RAS model was applied to two different reaches of river Jhelum in order to estimate the flood levels corresponding to 25, 50 and 100 year return period flood events at important locations and to deduce flood vulnerability of important areas and structures. The flow rates for the two reaches were derived from flood-frequency analysis of 50 years of historic peak flow data. Manning's roughness coefficient n was selected using detailed analysis. Rating Curves were also generated to serve as base for determining the boundary conditions. Calibration and Validation procedures were applied in order to ensure the reliability of the model. Sensitivity analysis was also performed in order to ensure the accuracy of Manning's n in generating water surface profiles.

Keywords: flood plain, HEC-RAS, Jhelum, return period

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Authors: Miriam Borchardt, Agata M. Ritter, Macaliston G. da Silva, Mauricio N. de Carvalho, Giancarlo M. Pereira

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This paper aims to analyze the barriers faced by social enterprises and based on that to propose a social business model framework that helps them to leverage their businesses and the social value delivered. A business model for social enterprises should amplify the value perception including social value for the beneficiaries while generating enough profit to escalate the business. Most of the social value beneficiaries are people from the base of the economic pyramid (BOP) or the ones that have specific needs. Because of this, products and services should be affordable to consumers while solving social needs of the beneficiaries. Developing products and services with social value require tie relationship among the social enterprises and universities, public institutions, accelerators, and investors. Despite being focused on social value and contributing to the beneficiaries’ quality of life as well as contributing to the governments that cannot properly guarantee public services and infrastructure to the BOP, many barriers are faced by the social enterprises to escalate their businesses. This is a work in process and five micro- and small-sized social enterprises in Brazil have been studied: (i) one has developed a kit for cervical uterine cancer detection to allow the BOP women to collect their own material and deliver to a laboratory for U$1,00; (ii) other has developed special products without lactose and it is about 70% cheaper than the traditional brands in the market; (iii) the third has developed prosthesis and orthosis to surplus needs that health public system have not done efficiently; (iv) the fourth has produced and commercialized menstrual panties aiming to reduce the consumption of dischargeable ones while saving money to the consumers; (v) the fifth develops and commercializes clothes from fabric wastes in a partnership with BOP artisans. The preliminary results indicate that the main barriers are related to the public system to recognize these products as public money that could be saved if they bought products from these enterprises instead of the multinational pharmaceutical companies, to the traditional distribution system (e.g. pharmacies) that avoid these products because of the low or non-existing profit, to the difficulty buying raw material in small quantities, to leverage investment by the investors, to cultural barriers and taboos. Interesting strategies to reduce the costs have been observed: some enterprises have focused on simplifying products, others have invested in partnerships with local producers and have developed their machines focusing on process efficiency to leverage investment by the investors.

Keywords: base of the pyramid, business model, social business, social business model, social enterprises

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Authors: Amany A. Ragheb, Ghada Ragheb, Abd ElRahman A.

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Egypt has a countless heritage of mansions, castles, cities, towns, villages, industrial and manufacturing sites. This richness of heritage provides endless and matchless prospects for culture. Despite being famous worldwide, Egypt’s heritage still is in constant need of protection. Political conflicts and religious revolutions form a direct threat to buildings in various areas, historic, archaeological sites, and religious monuments. Egypt has witnessed two revolutions in less than 60 years; both had an impact on its architectural heritage. In this paper, the authors aim to review legal and policy framework to protect the cultural heritage and present the risk management strategy for cultural heritage in conflict. Through a review of selected international models of devastated architectural heritage in conflict zones and highlighting some of their changes, we can learn from the experiences of other countries to assist towards the development of a methodology to halt the plundering of architectural heritage. Finally, the paper makes an effort to enhance the formulation of a risk management strategy for protection and conservation of cultural heritage, through which to end the plundering of Egypt’s architectural legacy in the Egyptian community (revolutions, 1952 and 2011); and by presenting to its surrounding community the benefits derived from maintaining it.

Keywords: cultural heritage, legal regulation, risk management, preservation

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Authors: Kathy Pain, Nalumino Akakandelwa

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The study explores the potential to fill a gap in health and wellbeing evidence for purposeful urban real estate asset management to make investment a powerful force for societal good. Part of a five-year programme investigating the root causes of unhealthy urban development funded by the United Kingdom Prevention Research Partnership (UKPRP), the study pilots the use of a systems mapping approach to identify drivers and barriers to the incorporation of health and wellbeing evidence in urban brownfield asset management decision-making. Urban real estate not only provides space for economic production but also contributes to the quality of life in the local community. Yet market approaches to urban land use have, until recently, insisted that neo-classical technology-driven efficient allocation of economic resources should inform acquisition, operational, and disposal decisions. Buildings in locations with declining economic performance have thus been abandoned, leading to urban decay. Property investors are recognising the inextricable connection between sustainable urban production and quality of life in local communities. The redevelopment and operation of brownfield assets recycle existing buildings, minimising embodied carbon emissions. It also retains established urban spaces with which local communities identify and regenerate places to create a sense of security, economic opportunity, social interaction, and quality of life. Social implications of urban real estate on health and wellbeing and increased adoption of benign sustainability guidance in urban production are driving the need to consider how they affect brownfield real estate asset management decisions. Interviews with real estate upstream decision-makers in the study, find that local social needs and impact analysis is becoming a commercial priority for large-scale urban real estate development projects. Evidence of the social value-added of proposed developments is increasingly considered essential to secure local community support and planning permissions, and to attract sustained inward long-term investment capital flows for urban projects. However, little is known about the contribution of population health and wellbeing to socially sustainable urban projects and the monetary value of the opportunity this presents to improve the urban environment for local communities. We report early findings from collaborations with two leading property companies managing major investments in brownfield urban assets in the UK to consider how the inclusion of health and wellbeing evidence in social valuation can inform perceptions of brownfield development social benefit for asset managers, local communities, public authorities and investors for the benefit of all parties. Using holistic case studies and systems mapping approaches, we explore complex relationships between public health considerations and asset management decisions in urban production. Findings indicate a strong real estate investment industry appetite and potential to include health as a vital component of sustainable real estate social value creation in asset management strategies.

Keywords: brownfield urban assets, health and wellbeing, social needs and impact, social valuation, sustainable real estate, systems mapping

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Authors: Oti Ibiam, Alexanda O. Kalu

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Human Resource Accounting is the process of identifying and measuring data about human resources and communicating this information to interested parties in order to meaningful investment decisions. In recent time, firms focus has shifted to human resource accounting so as to ensure efficiency and effectiveness in their operations. This study focused on the effect of human resource accounting on the financial performance of Banks in Nigerian. The problem that led to the study revolves around the current trend whereby Nigeria banks do not efficiently account for the input of human resource in their annual statement, thereby instead of capitalizing human resources in their statement of financial position; they expend it in their income statement thereby reducing their profit after tax. The broad objective of this study is to determine the extent to which human resource accounting affects the financial performance and value of Nigerian Banks. This study is therefore considered significant because, there are still universally, grey areas to be sorted out on the subject matter of human resources accounting. In the bid to achieve the study objectives, the researcher gathered data from sixteen commercial banks. Data were collected from both primary and secondary sources using an ex-post facto research design. The data collected were then tabulated and analyzed using the multiple regression analysis. The result of hypothesis one revealed that there is a significant relationship between Capitalized Human Resource Cost and post capitalization Profit before tax of banks in Nigeria. The finding of hypothesis two revealed that the association between Capitalized Human Resource Cost and post capitalization Net worth of banks in Nigeria is significant. The finding in Hypothesis three reveals that there is a significant difference between pre and post capitalization profit before tax of banks in Nigeria. The study concludes that human resources accounting positively influenced financial performance of banks in Nigeria within the period under study. It is recommended that standards should be set for human resources identification and measurement in the banking sector and also the management of commercial banks in Nigeria should have a proper appreciation of human resource accounting. This will enable managers to take right decision regarding investment in human resource. Also, the study recommends that policies on enhancing the post capitalization profit before tax of banks in Nigeria should pay great attention to capitalized human resources cost, net worth and total asset as the variables significantly influenced post capitalization profit before tax of the studied banks in Nigeria. The limitation of the study centers on the limited number of years and companies that was adopted for the study.

Keywords: capitalization, human resources cost, profit before tax, net worth

Procedia PDF Downloads 126

Authors: Aijuka Nicholas

Abstract:

A research study was undertaken to characterize the aquifers and identify the potential groundwater recharge zones in the Kagandi district. Quantitative characterization of hydraulic conductivities of aquifers is of fundamental importance to the study of groundwater flow and contaminant transport in aquifers. A conditional approach is used to represent the spatial variability of hydraulic conductivity. Briefly, it involves using qualitative and quantitative geologic borehole-log data to generate a three-dimensional (3D) hydraulic conductivity distribution, which is then adjusted through calibration of a 3D groundwater flow model using pumping-test data and historic hydraulic data. The approach consists of several steps. The study area was divided into five sub-watersheds on the basis of artificial drainage divides. A digital terrain model (DTM) was developed using Arc GIS to determine the general drainage pattern of Kagandi watershed. Hydrologic characterization involved the determination of the various hydraulic properties of the aquifers. Potential groundwater recharge zones were identified by integrating various thematic maps pertaining to the digital elevation model, land use, and drainage pattern in Arc GIS and Sufer golden software. The study demonstrates the potential of GIS in delineating groundwater recharge zones and that the developed methodology will be applicable to other watersheds in Uganda.

Keywords: aquifers, Arc GIS, groundwater recharge, recharge zones

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Authors: Š. Čemerková, M. Wilczková

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The paper deals with the importance of information flow for providing of defined level of customer service in the firms. Setting of the criteria for the selection and implementation of logistics information system is a prerequisite for ensuring of the flow of information in firms. The decision on the selection and implementation of logistics information system is linked to the investment costs and operating costs, which are included in the total logistics costs. The article also deals with the conclusions of the research focused on the logistics information system selection in companies in the Czech Republic.

Keywords: customer service, information system, logistics, research

Procedia PDF Downloads 336

Authors: M. Azadi, N. Tahouni, M. H. Panjeshahi

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A techno-economic evaluation for efficient use of energy in a large scale industrial plant of methanol is carried out. This assessment is based on integration of a gas turbine with an existing plant of methanol in which the outlet gas products of exothermic reactor is expanded to power generation. Also, it is decided that methanol production rate is constant through addition of power generation system to the existing methanol plant. Having incorporated a gas turbine with the existing plant, the economic results showed total investment of MUSD 16.9, energy saving of 3.6 MUSD/yr with payback period of approximately 4.7 years.

Keywords: energy saving, methanol, gas turbine, power generation

Procedia PDF Downloads 439

Authors: Hangil Park, Hwayeon Song, Jingyung Sim

Abstract:

In this study, a business ecosystem of a domestic space industry is comprehensively analyzed to derive the influence factors. The priority level of each element as well as the disparity between the ideal and reality are investigated through a literature review and an expert survey. The three major influence factors determined are: (a) investment scale and approach, (b) propulsion system, and (c) industrialization with overseas expansion. Related issues based on the current status are evaluated, followed by a proposed activation strategy. This research's findings offer a direction for R&D budget allocation and law system maintenance for the activation of the domestic space industry.

Keywords: space industry, activation, strategy, business ecosystem

Procedia PDF Downloads 345