Search results for: residential property market

Authors: Galuh Pramesti

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In Indonesia, the rise of the middle class and consumer purchasing power has created a trend of shifting the traditional into a modern retail market. Development of the creative economy as an impact of the global economy has invaded the traditional market, due to low rents and minimum innovation, raising the issue of sustainability and urban resilience for survival of the traditional market. The study aims to understand the current market conditions by examining the challenges, resiliency, and identify the relationship between the traditional market and creative market. Using a single-case study approach as the research methodology, Santa Market has been chosen as the case study. It is a pilot project of collaboration between a traditional market and creative economy in Jakarta, Indonesia. The research was conducted as a qualitative study through in-depth interviews with the market vendors and the market management, besides a desk-based study of the leasing data and spatial analysis. The findings indicate traffic fluctuation as the main challenge. It is related to the tenant’s presence, rental fluctuation, gentrification, infrastructure, and market competition. Thus, the findings on resilience show a different response for creative and traditional markets. The traditional market’s response remained stable with minimum innovation, whereas the creative market relies on technological development. Regarding the relationship, supply and demand have become the main relationship occurring in Santa Market. It is then developed into the context of society and regulation. The conclusion provides recommendations for more solid regulation to protect the market tenants from stakeholder interests that can disrupt market viability, and a critical discussion on the concept of collaboration between traditional and creative markets. There is also a suggestion for further study on relation with the surroundings, to create a holistic study on how the collaboration can work well in the traditional market.

Keywords: creative economy, market sustainability, traditional market, urban resilience

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Authors: Sarma Binti Aralas

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The relationship between property rights and trade specialization is examined for developing and developed countries using panel data analysis. Property rights is measured using the international property rights index while trade specialization is measured using the comparative advantage index. Cross country differences in property rights are hypothesized to lead to differences in trade specialization. Based on the argument that a weak protection of natural resources implies greater trade in resource-intensive goods, developing countries with less defined property rights are hypothesized to have a comparative advantage in resource-based exports while countries with more defined property rights will not have an advantage in resource-intensive goods. Evidence suggests that developing countries with weaker environmental protection index but are rich in natural resources do specialize in the trade of resource-intensive goods. The finding suggests that institutional frameworks to increase the stringency of environmental protection of resources may be needed to diversify exports away from the trade of resource-intensive goods.

Keywords: environmental protection, panel data, renewable resources, trade specialization

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Authors: Mojtaba Borhani

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By employing the unique characteristics of a region, its economy, climate, geography, and culture, rural communities can create distinctive products. This approach not only boosts economic opportunities but also promotes sustainable growth and preserves cultural heritage. A strategic focus on branding and intellectual property (IP) is essential. By developing strong brands, rural areas can differentiate their products, increase their market value, and build consumer loyalty. Moreover, IP protection safeguards the creative and innovative output of rural communities, incentivizing further development. Rural branding can serve as a cornerstone for community empowerment. It can help to prevent rural exodus by providing economic incentives and a strong sense of place. Additionally, by protecting traditional knowledge and cultural expressions, branding contributes to the long-term sustainability of rural livelihoods.

Keywords: intellectual property, regional branding, sustainable development, rural economy

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Authors: Susmita Ghosh, Bhaskar Bhowmick

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Market is an important factor for start-ups to look into during decision-making in product development and related areas. Emerging country markets are more uncertain in terms of information availability and institutional supports. The literature review of market uncertainty reveals the need for identifying factors representing the market uncertainty. This paper identifies factors for market uncertainty using Exploratory Factor Analysis (EFA) and confirms the number of factor retention using an alternative factor retention criterion, ‘Parallel Analysis’. 500 entrepreneurs, engaged in start-ups from all over India participated in the study. This paper concludes with the factor structure of ‘market uncertainty’ having dimensions of uncertainty in industry orientation, uncertainty in customer orientation and uncertainty in marketing orientation.

Keywords: uncertainty, market, orientation, competitor, demand

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Authors: Hubert Pun

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When a manufacturer outsources the production of a product, it distributes its intellectual property (IP) into a supply chain that it may not be able to fully control. An IP agreement between a manufacturer and its suppliers is a popular solution to address the challenge of supplier-copycatting. The goal of this paper is to examine the impact of copycatting, from both the supplier and third-party firms, and the effectiveness of an IP agreement. Specifically, we use a game-theoretic approach to examine a system where a manufacturer outsources to a supplier. The supplier and a third-party firm decide whether or not to enter the market with copycat products while the manufacturer selects the level of marketing investment. The manufacturer can reduce the threat of supplier-copycatting by signing an IP agreement. We find that the manufacturer can be worse off from signing an IP agreement with its supplier, even if the IP agreement is costless and perfectly enforceable. We show that a manufacturer can deter copycat products through vertical integration and IP agreements and we outline the instances where each method is preferred. Furthermore, we find that the manufacturer may choose not to invest in quality improvements as a copycat deterrence strategy. We show that the supplier can benefit from the manufacturer’s decision to sign an IP agreement and that the supplier and the consumers can benefit from government regulations against copycat products. Our paper demonstrates the strengths and limitations of various copycat deterrence strategies when a supplier and third-party may produce copycat products.

Keywords: coopetitive supply chain, copycat, government regulation, intellectual property

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Authors: Mojtaba Hakimi-Moghaddam

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Positive realness as the most important property of driving point impedance of passive electrical networks appears in the control systems stability theory in 1960’s. There are three important subsets of positive real (PR) systems are introduced by researchers, that is, loos-less positive real (LLPR) systems, weakly strictly positive real (WSPR) systems and strictly positive real (SPR) systems. In this paper, definitions, properties, lemmas, and theorems related to family of positive real systems are summarized. Properties in both frequency domain and state space representation of system are explained. Also, several illustrative examples are presented.

Keywords: real rational matrix transfer functions, positive realness property, strictly positive realness property, Hermitian form asymptotic property, pole-zero properties

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Authors: Venkatesh Kumar, Kasun Hewage, Rehan Sadiq

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Residential buildings consume significant amounts of energy and produce a large amount of emissions and waste. However, there is a substantial potential for energy savings in this sector which needs to be evaluated over the life cycle of residential buildings. Life Cycle Assessment (LCA) methodology has been employed to study the primary energy uses and associated environmental impacts of different phases (i.e., product, construction, use, end of life, and beyond building life) for residential buildings. Four different alternatives of residential buildings in Vancouver (BC, Canada) with a 50-year lifespan have been evaluated, including High Rise Apartment (HRA), Low Rise Apartment (LRA), Single family Attached House (SAH), and Single family Detached House (SDH). Life cycle performance of the buildings is evaluated for embodied energy, embodied environmental impacts, operational energy, operational environmental impacts, total life-cycle energy, and total life cycle environmental impacts. Estimation of operational energy and LCA are performed using DesignBuilder software and Athena Impact estimator software respectively. The study results revealed that over the life span of the buildings, the relationship between the energy use and the environmental impacts are identical. LRA is found to be the best alternative in terms of embodied energy use and embodied environmental impacts; while, HRA showed the best life-cycle performance in terms of minimum energy use and environmental impacts. Sensitivity analysis has also been carried out to study the influence of building service lifespan over 50, 75, and 100 years on the relative significance of embodied energy and total life cycle energy. The life-cycle energy requirements for SDH is found to be a significant component among the four types of residential buildings. The overall disclose that the primary operations of these buildings accounts for 90% of the total life cycle energy which far outweighs minor differences in embodied effects between the buildings.

Keywords: building simulation, environmental impacts, life cycle assessment, life cycle energy analysis, residential buildings

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Authors: Mounir Azzam, Valerie Graw, Andreas Rienow

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The Syrian war, which commenced in 2011, has resulted in significant changes in the real estate market in the Damascus metropolitan area, with rising levels of insecurity and disputes over tenure rights. The quest for spatial justice is, therefore, imperative, and this study performs a spatiotemporal analysis to investigate the impact of the war on real estate differentiation. Using the hedonic price models including 2,411 housing transactions over the period 2010-2022, this study aims to understand the spatial dynamics of the real estate market in wartime. Our findings indicate that war variables have had a significant impact on the differentiation and depreciation of property prices. Notably, property attributes have a more substantial impact on real estate values than district location, with severely damaged buildings in Damascus city resulting in an 89% decline in prices, while prices in Rural Damascus districts have decreased by 50%. Additionally, this study examines the urban texture of Damascus using correlation and homogeneity statistics derived from the gray-level co-occurrence matrix obtained from Google Earth Engine. We monitored 250 samples from hedonic datasets within three different years of the Syrian war (2015, 2019, and 2022). Our findings show that correlation values were highly differentiated, particularly among Rural Damascus districts, with a total decline of 87.2%. While homogeneity values decreased overall between 2015 and 2019, they improved slightly after 2019. The findings have valuable implications, not only for investment prospects in setting up a successful reconstruction strategy but also for spatial justice of property rights in strongly encouraging sustainable real estate development.

Keywords: hedonic price, real estate differentiation, reconstruction strategy, spatial justice, urban texture analysis

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Authors: Waheed Oseni

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This article reviews emergent global trends in intellectual property protection and identifies patenting as a strategic initiative. Recent developments in software and method of doing business patenting are fast transforming the e‐business landscape. The article discusses the emergent global regulatory framework concerning intellectual property rights and the strategic value of patenting. Important features of a corporate patenting portfolio are described. Superficially, the e‐commerce landscape appears to be dominated by dotcom start-ups or the “dotcomization” of existing brick and mortar companies. But, in reality, at its very bedrock is intellectual property (IP). In this connection, the recent avalanche of patenting of software and method‐of‐doing‐business (MDB) in the USA is a very significant development with regard to rules governing IP rights and, therefore, e‐commerce. Together with the World Trade Organization’s (WTO) IP rules, there is an emerging global regulatory framework for IP rights, an understanding of which is necessary for designing effective e‐commerce strategies.

Keywords: intellectual property, patents, methods, computer software

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Authors: Peter Shi

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Algorithmic trading is a rapidly expanding domain within quantitative finance, constituting a substantial portion of trading volumes in the US financial market. The demand for rigorous and robust mathematical theories underpinning these trading algorithms is ever-growing. In this study, the author establishes a new stock market model that integrates the Efficient Market Hypothesis and the statistical arbitrage. The model, for the first time, finds probabilistic relations between the rational price and the market price in terms of the conditional expectation. The theory consequently leads to a mathematical justification of the old market adage: buy-low and sell-high. The thresholds for “low” and “high” are precisely derived using a max-min operation on Bayes’s error. This explicit connection harmonizes the Efficient Market Hypothesis and Statistical Arbitrage, demonstrating their compatibility in explaining market dynamics. The amalgamation represents a pioneering contribution to quantitative finance. The study culminates in comprehensive numerical tests using historical market data, affirming that the “buy-low” and “sell-high” algorithm derived from this theory significantly outperforms the general market over the long term in four out of six distinct market environments.

Keywords: efficient market hypothesis, behavioral finance, Bayes' decision, algorithmic trading, risk control, stock market

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Authors: Renuka G. Oka

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From chowks to streets to verandahs to courtyards; residential open spaces are very significantly placed in traditional urban neighborhoods of India. At various levels of intersection, the open spaces with their attributes like juxtaposition with the built fabric, scale, climate sensitivity and response, multi-functionality, etc. reflect and respond to the patterns of human interactions. Also, these spaces tend to be quite well utilized. On the other hand, it is a common specter to see an imbalanced utilization of open spaces in newly/recently planned residential clusters. This is maybe due to lack of activity generators around or wrong locations or excess provisions or improper incorporation of aforementioned design attributes. These casual observations suggest the necessity for a systematic study of current residential open spaces. The exploratory study thus attempts to draw lessons through a structured inspection of residential open spaces to understand the effective environment as revealed through their use patterns. Here, residential open spaces are considered in a wider sense to incorporate all the un-built fabric around. These thus, include both use spaces and access space. For the study, open spaces in ten exemplary housing clusters/societies built during the last ten years across India are studied. A threefold inquiry is attempted in this direction. The first relates to identifying and determining the effects of various physical functions like space organization, size, hierarchy, thermal and optical comfort, etc. on the performance of residential open spaces. The second part sets out to understand socio-cultural variations in values, lifestyle, and beliefs which determine activity choices and behavioral preferences of users for respective residential open spaces. The third inquiry further observes the application of these research findings to the design process to derive meaningful and qualitative design advice. However, the study also emphasizes to develop a suitable framework of analysis and to carve out appropriate methods and approaches to probe into these aspects of the inquiry. Given this emphasis, a considerable portion of the research details out the conceptual framework for the study. This framework is supported by an in-depth search of available literature. The findings are worked out for design solutions which integrate the open space systems with the overall design process for residential clusters. The open spaces in residential areas present great complexities both in terms of their use patterns and determinants of their functional responses. The broad aim of the study is, therefore, to arrive at reconsideration of standards and qualitative parameters used by designers – on the basis of more substantial inquiry into the use patterns of open spaces in residential areas.

Keywords: open spaces, physical and social determinants, residential clusters, use patterns

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Authors: Prami Sengupta, Randall A. Cantrell, Tracy Johns

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A typical US household consumes more energy than households in other countries and is directly responsible for a considerable proportion of the atmospheric concentration of the greenhouse gases. This makes U.S. household a vital target group for energy conservation studies. Positive household behavior is central to residential energy conservation. However, for individuals to conserve energy they must not only know how to conserve energy but be also willing to do so. That is, a positive attitude towards residential conservation and an intention to conserve energy are two of the most important psychological determinants for energy conservation behavior. Most social science studies, to date, have studied the relationships between attitude, intention, and behavior by building upon socio-psychological theories of behavior. However, these frameworks, including the widely used Theory of Planned Behavior and Social Cognitive Theory, lack a spatial component. That is, these studies fail to capture the impact of the geographical locations of homeowners’ residences on their residential energy consumption and conservation practices. Therefore, the purpose of this study is to explore geospatial relationships between homeowners’ residential energy conservation-attitudes, conservation-intentions, and consumption behavior. The study analyzes residential conservation-attitudes and conservation-intentions of homeowners across 63 counties in Florida and compares it with quantifiable measures of residential energy consumption. Empirical findings revealed that the spatial distribution of high and/or low values of homeowners’ mean-score values of conservation-attitudes and conservation-intentions are more spatially clustered than would be expected if the underlying spatial processes were random. On the contrary, the spatial distribution of high and/or low values of households’ carbon footprints was found to be more spatially dispersed than assumed if the underlying spatial process were random. The study also examined the influence of potential spatial variables, such as urban or rural setting and presence of educational institutions and/or extension program, on the conservation-attitudes, intentions, and behaviors of homeowners.

Keywords: conservation-attitude, conservation-intention, geospatial analysis, residential energy consumption, spatial autocorrelation

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Authors: Saurabh Chanana, Monika Arora

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Demand response is getting increased attention these days due to the increase in electricity demand and introduction of renewable resources in the existing power grid. Traditionally demand response programs involve large industrial consumers but with technological advancement, demand response is being implemented for small residential and commercial consumers also. In this paper, demand response program aims to reduce the peak demand as well as overall energy consumption of the residential customers. Air conditioners are the major reason of peak load in residential sector in summer, so a dynamic model of air conditioning load with thermostat action has been considered for applying demand response programs. A programmable communicating thermostat (PCT) is a device that uses real time pricing (RTP) signals to control the thermostat setting. A new model incorporating PCT in air conditioning load has been proposed in this paper. Results show that introduction of PCT in air conditioner is useful in reducing the electricity payments of customers as well as reducing the peak demand.

Keywords: demand response, home energy management, programmable communicating thermostat, thermostatically controlled appliances

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Authors: Kacper Tomasz Kröber-Mulawa

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This paper will address the topic of data ownership from an economic perspective, and examples of economic limitations of data property rights will be provided, which have been identified using methods and approaches of economic analysis of law. To properly build a background for the economic focus, in the beginning a short perspective of data and data ownership in the EU’s legal system will be provided. It will include a short introduction to its political and social importance and highlight relevant viewpoints. This will stress the importance of a Single Market for data but also far-reaching regulations of data governance and privacy (including the distinction of personal and non-personal data, data held by public bodies and private businesses). The main discussion of this paper will build upon the briefly referred to legal basis as well as methods and approaches of economic analysis of law.

Keywords: antitrust, data, data ownership, digital economy, property rights

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Authors: O. Arikan, C. Kocatepe, G. Ucar, Y. Hacialiefendioglu

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In this paper, influence of harmonics on medium voltage distribution system of Bogazici Electricity Distribution Inc. (BEDAS) which takes place at Istanbul/Turkey is investigated. A ring network consisting of residential loads is taken into account for this study. Real system parameters and measurement results are used for simulations. Also, probable working conditions of the system are analyzed for %50, %75 and %100 loading of transformers with similar harmonic contents. Results of the study are exhibited the influence of nonlinear loads on %THDV, P.F. and technical losses of the medium voltage distribution system.

Keywords: distribution system, harmonic, technical losses, power factor, total harmonic distortion, residential load, medium voltage

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Authors: Özlem Öksüzer

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In this paper, we introduce variation detracting property of Kantorovich-Stancu type operators in the space of functions of bounded variation. These problems are studied with respect to the variation seminorm.

Keywords: Kantorovich-Stancu type operators, variation seminorm, variation detracting property, absolutely continuous function

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Authors: Marcin Adamczak

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The growth of Chinese film market and its dynamic incomparable to any other historical phenomenon has already made China the second world market and potential future leader in 2-3 years period. The growing power of Chines box-office and its future prospects is then the crucial and potentially disturbing factor for persistence of global Hollywood reality. The paper is based on market statistical data. The main findings of the analysis are defining of essential obstacles for the development of Chinese market and its foreign expansion. However, the new strategies employed by the industry (acquisitions of cinema chains abroad, blockbuster made with the involvement of figures from Hollywood star system, coproduction ties within Pacific basin) could be a successful remedy for current shortcomings. The main factor for development will be wider economical framework and maintenance of growth pace. The future state of Chinese film market will be one of the main factors shaping global film culture and film market in following decades of XXI century.

Keywords: production studies, film market, Chinese film market, distribution

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Authors: Arnesh Vijay

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Ever since its early introduction in the late 1980s, the mobile industry has been rapidly evolving with each passing year. The development witnessed is not just in its ability to support diverse applications, but also its extension into diverse technological means to access and offer various services to users. Amongst the various technologies present, radio systems have clearly emerged as a strong contender, due to its fine attributes of accessibility, reachability, interactiveness, and cost efficiency. These advancements have no doubt guaranteed unprecedented ease, utility and sophistication to the cell phone users, but caused uncertainty due to the interdependence of various systems, making it extremely complicated to exactly map concepts on to 3GPP (3rd Generation Partnership Project) standards. Although the close interrelation and interdependence of intellectual property rights and mobile standard specifications have been widely acknowledged by the technical and legal community; there, however, is a requirement for clear distinction between the scope and future-proof of inventions to influence standards and its market place adoptability. For this, collaborative work is required between intellectual property professionals, researchers, standardization specialists and country specific legal experts. With the evolution into next generation mobile technology, i.e., to 5G systems, there is a need for further work to be done in this field, which has been felt now more than ever before. Based on these lines, this poster will briefly describe the importance of intellectual property rights in the European market. More specifically, will analyse the role played by intellectual property in various standardization institutes, such as 3GPP (3rd generation partnership project) and ITU (International Telecommunications Union). The main intention: to ensure the scope and purpose is well defined, and concerned parties on all four sides are well informed on the clear significance of good proposals which not only bring economic revenue to the company but those that are capable of improving the technology and offer better services to mankind. The poster will comprise different sections. The first segment begins with a background on the rapidly evolving mobile technology, with a brief insight on the industrial impact of standards and its relation to intellectual property rights. Next, section two will succinctly outline the interplay between patents and standards; explicitly discussing the ever changing and rapidly evolving relationship between the two sectors. Then the remaining sections will examine ITU and its role played in international standards development, touching upon the various standardization process and the common patent policies and related guidelines. Finally, it proposes ways to improve the collaboration amongst various sectors for a more evolved and sophisticated next generation mobile telecommunication system. The sole purpose here is to discuss methods to reduce the gap and enhance the exchange of information between the two sectors to offer advanced technologies and services to mankind.

Keywords: mobile technology, mobile standards, intellectual property rights, 3GPP

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Authors: Naseer M. A.

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Buildings are major consumers of energy in both their construction and operation. They account for 40% of World’s energy use. It is estimated that 40-60% of this goes for conditioning the indoor environment. In India, like many other countries, the residential buildings have a major share (more than 50%) in the building sector. Of these, single-family units take a mammoth share. The single-family dwelling units in the urban and fringe areas are built in two stories to minimize the building foot print on small land parcels. And quite often, the bedrooms are located in the first floors. The modern buildings are provided with reinforced concrete (RC) roofs that absorb heat throughout the day and radiate the heat into the interiors during the night. The rooms that are occupied in the night, like bedrooms, are having their indoors uncomfortable. This has resulted in the use of active systems like air-conditioners and air coolers, thereby increasing the energy use. An investigation conducted by monitoring the thermal comfort condition in the residential building with RC roofs have proved that the indoors are really uncomfortable in the night hours. A sustainable solution to improve the thermal performance of the RC roofs was developed by an experimental study by continuously monitoring the thermal comfort parameters during summer (the period that is most uncomfortable in temperate climate). The study conducted in the southern peninsular India, prove that retrofitting of existing residential building can give a sustainable solution in abating the ever increasing energy demand especially when it is a fact that these residential buildings that are built for a normal life span of 40 years would continue to consume the energy for the rest of its useful life.

Keywords: energy efficiency, thermal comfort, retrofitting, residential buildings

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Authors: Eileen Kim

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As socioeconomic disparities grew in New York during the 1970s, artists represented new values that came with the times. Street art, in particular, was birthed from a distinctly urban, fringe setting to ultimately become one of the most lucrative forms of art today. Examining the economic and psychological reasons behind the rise of street art, this paper delves into the development of the art market as a parallel insight into human behaviors and economic models such as supply and demand. The purpose of this study is to show the role of the increasingly divided socioeconomic classes and the rise of art collecting as an asset-building form. This study concludes that the iconography and market value of street art represented distinct values that came from a series of intertwined social matters such as racial tensions and revolutions in industrial innovation.

Keywords: art industry, cultural representation, ethnicity, markets, public property, social classes, street art

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Authors: Nesrine Bouzaher, Okba Necira

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The financial aspect of the Algerian economy is part of all sectors that have undergone great changes these two last decades; the goal is to enable economic mechanisms for real growth. Insurance is an indispensable tool for stabilizing these mechanisms. Therefore the national economy needs to develop the insurance market in order to support the investments, externally and internally; it turns out that reinsurance is one of the area which could prove their performance in several markets mainly emerging ones. The expansion of reinsurance in the domestic market is the preoccupation of this work, focusing on factors that could enhance the demand of reinsurance in the Algerian market. This work will be based on an analytical research of the economic contribution of the reinsurance and it’s collusion with insurance; market, then it will be necessary to provide an overview of the product in the national emerging market, finally we will try to investigate on the factors that could enhance the demand in the national reinsurance market so as to determine the potential of Algeria in this area.

Keywords: Algerian reinsurance data, demand trend of Algerian reinsurance, reinsurance, reinsurance market

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Authors: M. Chavleishvili

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The paper presents the trends of Georgian hazelnut market development and analyses the competitive advantages which will help Georgia to enter international hazelnut market using modern technologies. The history of hazelnut crop development and hazelnut species in Georgia are discussed. For hazelnut supply analysis trends in hazelnut production are considered, trends in export and import development is evaluated, domestic hazelnut market is studied and analysed based on expert interviews and initial accounting materials. In order to achieve and strengthen its position in international market, potential advantages and disadvantages of Georgian hazelnut are revealed, analysis of export and import possibilities of hazelnut is presented. Recommendations are developed based on the conclusions, which are made through identifying the key factors that hinder development of Georgian hazelnut market.

Keywords: hazelnut market, hazelnut export and import, competitiveness of hazelnut

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Authors: Necira Okba, Nesrine Bouzaher

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The financial aspect of the Algerian economy is part of all sectors that have undergone great changes these two last decades; the goal is to enable economic mechanisms for real growth. Insurance is an indispensable tool for stabilizing these mechanisms. Therefore, the national economy needs to develop the insurance market in order to support the investments, externally and intern ally; it turns out that reinsurance is one of the area which could prove their performance in several markets mainly emerging ones. The expansion of reinsurance in the domestic market is the preoccupation of this work, focusing on factors that could enhance the demand of reinsurance in the Algerian market. This work will be based on an analytical research of the economic contribution of the reinsurance and it’s collusion with insurance market, then it will be necessary to provide an overview of the product in the national emerging market, finally we will try to investigate on the factors that could enhance the demand in the national reinsurance market so as to determine the potential of Algeria in this area.

Keywords: Algerian reinsurance data, demand trend of Algerian reinsurance, reinsurance, reinsurance market

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Authors: Hana Janáčková

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Housing can be sorted as basic needs of households. Purchase of acceptable ownership housing is important investments for most them. For rental housing households must consider the part of rent expenditure paid in the total household income. For this reason, financial considerations of households in this area depend on the government innervations (public administration) in housing - on housing policy. Market system of housing allocation, whether ownership or tenancy, is based on the fact that housing is a scarce good. The allocation of housing is based on demand and supply. The market system of housing can sometimes have a negative impact on some households, the market is unable to satisfy certain groups of the population that are not able or willing to accept market price. For these reasons, there is a more or less regulation of the market. Regulation is both on the demand and supply side, and the state determines the rules of behaviour for all economic entities of the housing market. This article submits results of analysis of selected regulatory interference of the state in the housing market and assesses their implications deforming the market in the selected region of the Czech Republic. The first part describes tools of supports and the second part discusses deformations and analyses their consequences on the demand side of housing market and on supply side.

Keywords: housing, housing market, microeconomic consequences, deformation

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Authors: Xilu Liu, Ameen Farooq

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Beijing has several compact residential housing settings in many of its urban districts. The study in this paper reveals that urban compactness, as predictor of density, may carry an altogether different meaning in the developing world when compared to the U.S for achieving objectives of urban sustainability. Recent urban design studies in the U.S are debating for compact and mixed-use higher density housing to achieve sustainable and energy efficient living environments. While the concept of urban compactness is widely accepted as an approach in modern architectural and urban design fields, this belief may not directly carry well into all areas within cities of developing countries. Beijing’s technology-driven economy, with its historic and rich cultural heritage and a highly speculated real-estate market, extends its urban boundaries into multiple compact urban settings of varying scales and densities. The accelerated pace of migration from the countryside for better opportunities has led to unsustainable and uncontrolled buildups in order to meet the growing population demand within and outside of the urban center. This unwarranted compactness in certain urban zones has produced an unhealthy physical density with serious environmental and ecological challenging basic living conditions. In addition, crowding, traffic congestion, pollution and limited housing surrounding this compactness is a threat to public health. Several residential blocks in close proximity to each other were found quite compacted, or ill-planned, with residential sites due to lack of proper planning in Beijing. Most of them at first sight appear to be compact and dense but further analytical studies revealed that what appear to be dense actually are not as dense as to make a good case that could serve as the corner stone of sustainability and energy efficiency. This study considered several factors including floor area ratio (FAR), ground coverage (GSI), open space ratio (OSR) as indicators in analyzing urban compactness as a predictor of density. The findings suggest that these measures, influencing the density of residential sites under study, were much smaller in density than expected given their compact adjacencies. Further analysis revealed that several residential housing appear to support the notion of density in its compact layout but are actually compacted due to unregulated planning marred by lack of proper urban design standards, policies and guidelines specific to their urban context and condition.

Keywords: Beijing, density, sustainability, urban compactness

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Authors: Kamel Malik Bensafta, Gervasio Bensafta

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The purpose of this paper is to investigate the relationship between oil prices and socks markets. The empirical analysis in this paper is conducted within the context of Multivariate GARCH models, using a transform version of the so-called BEKK parameterization. We show that mean and uncertainty of US market are transmitted to oil market and European market. We also identify an important transmission from WTI prices to Brent Prices.

Keywords: oil volatility, stock markets, MGARCH, transmission, structural break

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Authors: Morolake Josephine Adeagbo

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South Africa is one of those countries that openly rejected racism, and this is entrenched in its Bill of Rights. Despite the acceptance and incorporation of racial integration into the South Africa Constitution, the implementation within some sectors, most especially the educational sector, seems difficult. Recent occurrences of racism in some higher institutions of learning in South Africa are indications that racial integration / racial transformation is still farfetched in the country’s higher educational sector. It is against this background that this study was conducted to understand how gender and residential background influence racial integration in a South African university which was predominantly a white Afrikaner institution. Using a quantitative method to test the attitude of different categories of undergraduate students at the university, this study found that the factors- residential background and gender- used in measuring student’s attitude do not necessarily have a significant relationship towards racial integration. However, this study concludes with a call for more research with a range of other factors in order to better understand how racial integration can be promoted in South African institutions of higher learning.

Keywords: racial integration, gender, residential background, transformation

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Authors: Mike R. Bambach

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Increasing awareness of environmental concerns is leading a drive towards more sustainable structural products for the built environment. Natural fibres such as flax, jute and hemp have recently been considered for fibre-resin composites, with a major motivation for their implementation being their notable sustainability attributes. While recent decades have seen substantial interest in the use of such natural fibres in composite materials, much of this research has focused on the materials aspects, including fibre processing techniques, composite fabrication methodologies, matrix materials and their effects on the mechanical properties. The present study experimentally investigates the compression strength of structural channel sections of flax, jute and hemp, with a particular focus on their suitability for residential stud wall applications. The section geometry is optimised for maximum strength via the introduction of complex stiffeners in the webs and flanges. Experimental results on both natural fibre composite channel sections and typical steel and timber residential wall studs are compared. The geometrically optimised natural fibre composite channels are shown to have compression capacities suitable for residential wall stud applications, identifying them as a potentially viable alternative to traditional building materials in such application, and potentially other light structural applications.

Keywords: channel sections, natural fibre composites, residential stud walls, structural composites

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Authors: Solmaz Jahed Shiran, John Hearne, Tayebeh Saghapour

Abstract:

Daily travel behavior is strongly influenced by the location of the places of residence, education, and employment. Hence a change in those locations due to a move or changes in an occupation leads to a change in travel behavior. Given the interventions of housing mobility and travel behaviors, the hypothesis is that a mobile housing market allows households to move as a result of any change in their life course, allowing them to be closer to central services, public transport facilities and workplace and hence reducing the time spent by individuals on daily travel. Conversely, household’s immobility may lead to longer commutes of residents, for example, after a change of a job or a need for new services such as schools for children who have reached their school age. This paper aims to investigate the association between residential mobility and travel behavior. The Victorian Integrated Survey of Travel and Activity (VISTA) data is used for the empirical analysis. Car ownership and journey to work time and distance of employed people are used as indicators of travel behavior. Change of usual residence within the last five years used to identify movers and non-movers. Statistical analysis, including regression models, is used to compare the travel behavior of movers and non-movers. The results show travel time, and the distance does not differ for movers and non-movers. However, this is not the case when taking into account the residence tenure-type. In addition, car ownership rate and number found to be significantly higher for non-movers. It is hoped that the results from this study will contribute to a better understanding of factors other than common socioeconomic and built environment features influencing travel behavior.

Keywords: journey to work, regression models, residential mobility, commute mode, car ownership

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Authors: Herjuno Bagus Wicaksono, Emma Almira Fauni, Salma Amelia Dina

Abstract:

The Efficient Market Hypothesis (EMH) states that, in an efficient capital market, price fully reflects the information available in the market. This theory has influenced many investors behavior in trading in the stock market. Advanced researches have been conducted to test the efficiency of the stock market in particular countries. Indonesia, as one of the emerging countries, has performed substantial growth in the past years. Hence, this paper aims to examine the efficiency of Islamic stock market in Indonesia in its weak form. The daily stock price data from Indonesia Sharia Stock Index (ISSI) for the period October 2015 to October 2016 were used to do the statistical tests: Run Test and Serial Correlation Test. The results show that there is no serial correlation between the current price with the past prices and the market follows the random walk. This research concludes that Indonesia Islamic stock market is weak form efficient.

Keywords: efficient market hypothesis, Indonesia sharia stock index, random walk, weak form efficiency

Procedia PDF Downloads 460