Search results for: asset renewal

Authors: Anja Jutraz, Tadeja Zupancic

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This article explores urban laboratory, which presents a combination of different physical and digital methods and tools for public participation in urban design. The city consists of built and unbuilt environments, which can be defined as a community of people, who live there. Communities should have the option to express opinions and decide about the future of their city, from the early stages of the design process onwards. In this paper, we presented the possibility of involving community into renewal of Banska Štiavnica in Slovakia (more exactly the old mining shaft and lake Michal Štolna) and the methods to promote the community building. As a case study we presented the eTHNo project, Education about Technical, Historical and Natural opportunities of Michal Štolna. Moreover, we discussed the possibility of using virtual digital tools for public participation in urban design, where we especially focused on Virtual Urban Laboratory, VuLab.

Keywords: community building, digital tools, public participation, urban design

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Authors: Ässia Boukhatmi, Roger Nyffenegger

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The expansion of solar energy as a means to address the climate crisis is undisputed, but the increasing number of new photovoltaic (PV) modules being put on the market is simultaneously leading to increased challenges in terms of managing the growing waste stream. Many of the discarded modules are still fully functional but are often damaged by improper handling after disassembly or not properly tested to be considered for a second life. In addition, the collection rate for dismantled PV modules in several European countries is only a fraction of previous projections, partly due to the increased number of illegal exports. The underlying problem for those market imperfections is an insufficient data exchange between the different actors along the PV value chain, as well as the limited traceability of PV panels during their lifetime. As part of the Horizon 2020 project CIRCUSOL, an asset database prototype was developed to tackle the described problems. In an iterative process applying the design science research methodology, different business models, as well as the technical implementation of the database, were established and evaluated. To explore the requirements of different stakeholders for the development of the database, surveys and in-depth interviews were conducted with various representatives of the solar industry. The proposed database prototype maps the entire value chain of PV modules, beginning with the digital product passport, which provides information about materials and components contained in every module. Product-related information can then be expanded with performance data of existing installations. This information forms the basis for the application of data analysis methods to forecast the appropriate end-of-life strategy, as well as the circular economy potential of PV modules, already before they arrive at the recycling facility. The database prototype could already be enriched with data from different data sources along the value chain. From a business model perspective, the database offers opportunities both in the area of reuse as well as with regard to the certification of sustainable modules. Here, participating actors have the opportunity to differentiate their business and exploit new revenue streams. Future research can apply this approach to further industry and product sectors, validate the database prototype in a practical context, and can serve as a basis for standardization efforts to strengthen the circular economy.

Keywords: business model, circular economy, database, design science research, solar industry

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Authors: Oumayma Hilal

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The devastating earthquake in Marrakech-El Haouz in September 2023 underscores the critical need for sustainable tourism practices. This study proposes innovative approaches to territory tourism, prioritizing resilient and sustainable development to aid recovery and empower local communities. Using a mixed-methods approach, the research evaluates post-earthquake tourism impacts, gathers local perspectives, and benchmarks global models for disaster recovery through tourism. The paper aims to offer practical, community-centric tourism initiatives, integrated with strategic communication strategies, to enhance socio-economic welfare and ensure long-term resilience. The findings are expected to contribute significantly to sustainable tourism literature in post-disaster contexts and provide actionable strategies for the revitalization of the Marrakech-El Haouz region.

Keywords: sustainable tourism, community development, Marrakech El Haouz, communication strategies, territory tourism, sustainable tourism, community development

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Authors: Nadezhda Kvatashidze, Elena Kharabadze

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It is broadly known that lease is a flexible means of funding enterprises. Lease reduces the risk related to access and possession of assets, as well as obtainment of funding. Therefore, it is important to refine lease accounting. The lease accounting regulations under the applicable standard (International Accounting Standards 17) make concealment of liabilities possible. As a result, the information users get inaccurate and incomprehensive information and have to resort to an additional assessment of the off-balance sheet lease liabilities. In order to address the problem, the International Financial Reporting Standards Board decided to change the approach to lease accounting. With the deficiencies of the applicable standard taken into account, the new standard (IFRS 16 ‘Leases’) aims at supplying appropriate and fair lease-related information to the users. Save certain exclusions; the lessee is obliged to recognize all the lease agreements in its financial report. The approach was determined by the fact that under the lease agreement, rights and obligations arise by way of assets and liabilities. Immediately upon conclusion of the lease agreement, the lessee takes an asset into its disposal and assumes the obligation to effect the lease-related payments in order to meet the recognition criteria defined by the Conceptual Framework for Financial Reporting. The payments are to be entered into the financial report. The new lease accounting standard secures supply of quality and comparable information to the financial information users. The International Accounting Standards Board and the US Financial Accounting Standards Board jointly developed IFRS 15: ‘Revenue from Contracts with Customers’. The standard allows the establishment of detailed revenue recognition practical criteria such as identification of the performance obligations in the contract, determination of the transaction price and its components, especially price variable considerations and other important components, as well as passage of control over the asset to the customer. IFRS 15: ‘Revenue from Contracts with Customers’ is very similar to the relevant US standards and includes requirements more specific and consistent than those of the standards in place. The new standard is going to change the recognition terms and techniques in the industries, such as construction, telecommunications (mobile and cable networks), licensing (media, science, franchising), real property, software etc.

Keywords: assessment of the lease assets and liabilities, contractual liability, division of contract, identification of contracts, contract price, lease identification, lease liabilities, off-balance sheet, transaction value

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Authors: Urva Maryam

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The information has become an important asset to the current cosmos. Globally, various tactics are being observed to confine the spread of information as it makes people vulnerable to security attacks. Open Source Intelligence (OSINT) is a publicly available source that has disseminated information about users or websites, companies, and various organizations. This paper focuses on the quantitative method of exploring various OSINT tools that reveal public information of personals. This information could further facilitate phishing attacks. Phishing attacks can be launched on email addresses, open ports, and unsecure web-surfing. This study allows to analyze the information retrieved from OSINT tools, i.e. theHarvester, and Maltego that can be used to send phishing attacks to individuals.

Keywords: e-mail spoofing, Maltego, OSINT, phishing, spear phishing, theHarvester

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Authors: Aneesa Shafi

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Reproduction is a complex term in a setting where it is continuously being shaped by epistemological shifts in knowledge. It denotes not just fertility, birth and childcare related practices but also the ideas that shape those practices. These ideas and practices figure into understandings of social and cultural renewal. Patriarchy continues to be a dominating force in the formation of these ideas and practices. Contemporary times are characterized by the resurgence of the whims of patriarchal politics in delineating the margins of women’s health care. This has further emboldened the struggle for reproductive rights on the global stage. The paper examines the subordination of the right to bodily autonomy of women within the ambit of their reproductive rights. Reproductive rights are recognized human rights and women’s rights. Why these rights of women face stiff opposition is established, as is the structure that creates hurdles to their enjoyment. The negotiation of this structure in the everyday life through women’s agency is also established. The reproductive sphere includes not just the process of reproduction but also social reproduction- domestic work, spheres of production and reproduction, population and birth (control) issues.

Keywords: patriarchy, women, reproduction, gender

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Authors: Funmilayo L. Amao

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As a result of the high cost of housing, the increasing population is forced to live in substandard housing and unhealthy conditions giving rise to poor residential neighborhoods. The paper examines the causes and characteristics of poor residential neighborhood. The paper finds the problems that have influence poor neighborhoods to; poverty, growth of informal sector and housing shortage. The paper asserts that poor residential neighborhoods have adverse effects on the people. The secondary data was obtained from books, journals and seminar papers while primary data relating to building and environmental quality from structured questionnaire administered on sample of 500 household heads, from sampling frame of 5000 housing units. The study reveals that majority of the respondents are poor and employed in informal sector. The paper suggests urban renewal and slum upgrading programs as methods in dealing with the situation and an improvement in the socio-economic circumstances of the inhabitants.

Keywords: environmental degeneration, housing, poverty, quality of life, urban upgrading

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Authors: R. M. R. Hussein

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Sustainable urban waterfront development is one of the most interesting phenomena of urban renewal in the last decades. However, there are still many cities whose visual image is compromised due to the lack of a sustainable urban waterfront development, which consequently affects the place of those cities globally. This paper aims to reimagine the role of waterfront areas in city design, with a particular focus on Egypt, so that they provide attractive, sustainable urban environments while promoting the continued aesthetic development of the city overall. This aim will be achieved by determining the main principles of a sustainable urban waterfront and its applications. This paper concentrates on sustainability assessment rating systems. A number of international case-studies, wherein a city has applied the basic principles for a sustainable urban waterfront and have made use of sustainability assessment rating systems, have been selected as examples which can be applied to the urban waterfronts in Egypt. This paper establishes the importance of developing the design of urban environments in Egypt, as well as identifying the methods of sustainability application for urban waterfronts.

Keywords: sustainable urban waterfront, green infrastructure, energy efficient, Cairo

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Authors: Urva Maryam

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Information has become an important asset to the current cosmos. Globally, various tactics are being observed to confine the spread of information as it makes people vulnerable to security attacks. Open Source Intelligence (OSINT) is a publicly available source that has disseminated information about users or website, companies, and various organizations. This paper focuses on the quantitative method of exploring various OSINT tools that reveal public information of personals. This information could further facilitate the phishing attacks. Phishing attacks can be launched on email addresses, open ports, and unsecured web-surfing. This study allows to analyze information retrieved from OSINT tools i.e., the Harvester, and Maltego, that can be used to send phishing attacks to individuals.

Keywords: OSINT, phishing, spear phishing, email spoofing, the harvester, maltego

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Authors: Kinjal Parmar, Matteo Lelli

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The usage of IoT technology as a rockfall alert system is relatively new. This paper explains the potential of such an alert system called HelloMac from Maccaferri which provides transportation infrastructure asset owners the way to effectively utilize their resources in the detection of boulder impacts on rockfall barriers. This would ensure a faster assessment of the impacted barrier and subsequently facilitates the implementation of remedial works in an effective and timely manner. In addition, the HelloMac can also be integrated with another warning system to alert vehicle users of the unseen dangers ahead. HelloMac is developed to work also in remote areas, where cell coverage is not available. User gets notified when a rockfall even occurs via mobile app, SMS and email. Using such alarming systems effectively, we can reduce the risk of rockfall hazard.

Keywords: rockfall, barrier, HelloMac, rockfall alert system

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Authors: Paulina Ramirez Leal

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Current debates have examined the effects of market-oriented development on gentrification, as well as the role of urban renewal, interventions, and planning policy in exacerbating this phenomenon. Despite the growing body of research recognizing the social impacts of gentrification, to date, there has been very little research directly investigating how resisting gentrification increases social cohesion, a crucial dimension of urban resilience. This contribution set out to explore these social impacts while identifying the different forms of protest and expressions of resistance to gentrification in Monterrey’s city center. The methods employed include documentary analysis and qualitative methods such as surveys and photographic documentation. Monterrey’s city center's ongoing process of gentrification illustrates the impacts of planning policies, specifically TOD. Some of the unintended consequences of the policy have resulted in inhabitants facing forced inner migration and displacement caused by vandalism of their homes and neighborhoods, as well as losing part of their urban identity.

Keywords: gentrification, social impacts, neighborhood identity, urban resilience, Monterrey’s City Center

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Authors: Jamel Boukhatem, Mouldi Djelassi

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Contrary to the existing literature generally focusing on the role played by Sukuk in enhancing investors' and shareholders' wealth, this paper sheds some light on the Sukuk wealth effect across all economic agents: households, government, and investors by implementing a two-period life-cycle model with overlapping generations to show whether Sukuk is net wealth. The main findings are threefold: i) the effect of a change in Sukuk issuances on the consumers’ utility level will be different from one generation to another, ii) an increase in taxes due to the increase in Sukuk and rents is covered by transfers made by the members of generation 1 in the form of inheritance, and iii) the existence of a positive relationship between the asset prices representative of Sukuk and the real activity.

Keywords: Sukuk, households, investors, overlapping generations model, wealth, modeling

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Authors: Kamran Siddique, Yangwoo Kim, Zahid Akhtar

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In recent years, the technological advancements have led to a deluge of data from distinctive domains and the need for development of solutions based on parallel and distributed computing has still long way to go. That is why, the research and development of massive computing frameworks is continuously growing. At this particular stage, highlighting a potential research area along with key insights could be an asset for researchers in the field. Therefore, this paper explores one of the emerging distributed computing frameworks, Apache Hama. It is a Top Level Project under the Apache Software Foundation, based on Bulk Synchronous Processing (BSP). We present an unbiased and critical interrogation session about Apache Hama and conclude research directions in order to assist interested researchers.

Keywords: apache hama, bulk synchronous parallel, BSP, distributed computing

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Authors: Panayiota Romios

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Greek diaspora communities with their specific cultural identity are found throughout the world and exist on a continuum of redefinition and renewal. This paper investigates Greek migration to Australia, followed by a discussion of findings from a qualitative study of sixteen third generation Greek Australians conducted by the author in Melbourne, Australia, in 2021. The Greek-born population in Australia increased from 15,000 in 1930 to well over 300,000 by 1970. Over the next decades, first-generation Greek migrants successfully sustain a Greek identity that promotes difference within Australia. Their Australian-born children, while constructing Greek Australian hybrid identities through an encounter with difference, integrate successfully into Australian society and maintain strong connections to Greece. This study explores the third generation Greek Australian identities, the children of the second generation, and their having horizontal and vertical orientations, where the former designates transgression of borders and space and the latter is connected to the movement across time. This approach is particularly interesting in the context of Greek Australian migrant and diasporic experience as hybridity understood as movement and translocation can offer new perspectives on migrant identities in multi-and transcultural worlds.

Keywords: diaspora, migration, hybridity, ethnicty

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Authors: Girish M. Bhatia

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Most of the important structures in refinery complex are RCC Structures for which in-depth structural monitoring and inspection is required for incessant service. Reinforced concrete structures can be under threat from a combination of insidious challenges due to environmental conditions, including temperature and humidity that lead to accelerated deterioration mechanisms like carbonation, as well as marine exposure, above and below ground structures can experience ingress from aggressive ground waters carrying chlorides and sulphates leading to unexpected deterioration that threaten the integrity of a vital structural asset. By application of health monitoring techniques like corrosion monitoring with help of sensor probes, visual inspection of high rise structures with help of drones, it is possible to establish an early warning at the onset of these destructive processes.

Keywords: concrete structures, corrosion sensors, drones, health monitoring

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Authors: Shadan Dwairi

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Defining proper requirements is one of the key factors for a successful construction projects. Although there have been many attempts put forward in assist in identifying requirements, but still this area is under developed. In Buildings Information Modelling (BIM) projects. The Employer Information Requirements (EIR) is the fundamental requirements document and a necessary ingredient in achieving a successful BIM project. The provision on full and clear EIR is essential to achieving BIM Level-2. As Defined by PAS 1192-2, EIR is a “pre-tender document that sets out the information to be delivered and the standards and processes to be adopted by the supplier as part of the project delivery process”. It also notes that “EIR should be incorporated into tender documentation to enable suppliers to produce an initial BIM Execution Plan (BEP)”. The importance of effective definition of EIR lies in its contribution to a better productivity during the construction process in terms of cost and time, in addition to improving the quality of the built asset. Proper and clear information is a key aspect of the EIR, in terms of the information it contains and more importantly the information the client receives at the end of the project that will enable the effective management and operation of the asset, where typically about 60%-80% of the cost is spent. This paper reports on the research done in developing the Ontology-based tool for Employer Information Requirements (OntEIR). OntEIR has proven the ability to produce a full and complete set of EIRs, which ensures that the clients’ information needs for the final model delivered by BIM is clearly defined from the beginning of the process. It also reports on the work being done into transforming OntEIR into a smart tool for Defining Employer Information Requirements (smartEIR). smartEIR transforms the OntEIR tool into enabling it to develop custom EIR- tailored for the: Project Type, Project Requirements, and the Client Capabilities. The initial idea behind smartEIR is moving away from the notion “One EIR fits All”. smartEIR utilizes the links made in OntEIR and creating a 3D matrix that transforms it into a smart tool. The OntEIR tool is based on the OntEIR framework that utilizes both Ontology and the Decomposition of Goals to elicit and extract the complete set of requirements needed for a full and comprehensive EIR. A new ctaegorisation system for requirements is also introduced in the framework and tool, which facilitates the understanding and enhances the clarification of the requirements especially for novice clients. Findings of the evaluation of the tool that was done with experts in the industry, showed that the OntEIR tool contributes towards effective and efficient development of EIRs that provide a better understanding of the information requirements as requested by BIM, and support the production of a complete BIM Execution Plan (BEP) and a Master Information Delivery Plan (MIDP).

Keywords: building information modelling, employer information requirements, ontology, web-based, tool

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Authors: Khlif Hamadi

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Supply chain integration has become a potentially valuable way of securing shared information and improving supply chain performance since competition is no longer between organizations but among supply chains. This research conceptualizes and develops three dimensions of supply chain integration (integration with customers, integration with suppliers, and the interorganizational integration) and tests the relationships between supply chain integration, information sharing, and supply chain performance. Furthermore, the four types of information sharing namely; information sharing with customers, information sharing with suppliers, inter-functional information sharing, and intra-organizational information sharing; and the four constructs of Supply Chain Performance represents expenses of costs, asset utilization, supply chain reliability, and supply chain flexibility and responsiveness. The theoretical and practical implications of the study, as well as directions for future research, are discussed.

Keywords: supply chain integration, supply chain management, information sharing, supply chain performance

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Authors: Elvan Ender, Ozge Celik

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Transportation systems play a vital role in access and egress in our lives. Concerns about environmental quality, social equity, economic vitality, and the threat of climate change have converged to produce a growing interest in the concept of sustainability, sustainable development, and sustainable transportation. Cities should respect nature, consider the urban ecological environment as an asset, integrate environmental issues into urban planning and administration, and accelerate the transition to sustainable development. This paper reviews current pedestrian and bike transportation in Bursa and proves the effects of unbalanced distribution to neighbourhoods of this presence. In this way creating proposal map for walking and bicycling to constitute a preliminary base for the physical urban planning of Bursa, has been aimed.

Keywords: Bursa, proposal map, sustainability, transportation

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Authors: Ahmed Fradi

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In a digital world in perpetual evolution and acceleration, data more and more voluminous, rich and varied, the new software solutions emerged with the Big Data phenomenon offer new opportunities to the company enabling it not only to optimize its business and to evolve its production model, but also to reorganize itself to increase competitiveness and to identify new strategic axes. Design and manufacturing industrial companies, like the others, face these challenges, data represent a major asset, provided that they know how to capture, refine, combine and analyze them. The objective of our paper is to propose a solution allowing geometric and topological information extraction from 3D CAD model (precisely STEP files) databases, with specific algorithm based on the programming paradigm MapReduce. Our proposal is the first step of our future approach to 3D CAD object retrieval.

Keywords: Big Data, MapReduce, 3D object retrieval, CAD, STEP format

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Authors: Ahmed Mateen, Zhu Qingsheng, Ahmad Bilal

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In the current age of technology, information is the most precious asset of a company. Today, companies have a large amount of data. As the data become larger, access to data for some particular information is becoming slower day by day. Faster data processing to shape it in the form of information is the biggest issue. The major problems in distributed databases are the efficiency of data distribution and response time of data distribution. The security of data distribution is also a big issue. For these problems, we proposed a strategy that can maximize the efficiency of data distribution and also increase its response time. This technique gives better results for secure data distribution from multiple heterogeneous sources. The newly proposed technique facilitates the companies for secure data sharing efficiently and quickly.

Keywords: ER-schema, electronic record, P2P framework, API, query formulation

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Authors: Hromada Martin

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Risk analysis is considered as a fundamental aspect relevant for ensuring the level of critical infrastructure protection, where the critical infrastructure is seen as system, asset or its part which is important for maintaining the vital societal functions. Article actually discusses and analyzes the potential application of selected tools of information support for the implementation and within the framework of risk analysis and critical infrastructure protection. Use of the information in relation to their risk analysis can be viewed as a form of simplifying the analytical process. It is clear that these instruments (information support) for these purposes are countless, so they were selected representatives who have already been applied in the selected area of critical infrastructure, or they can be used. All presented fact were the basis for critical infrastructure resilience evaluation methodology development.

Keywords: critical infrastructure, protection, resilience, risk analysis

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Authors: Rathna Malhotra Gaur

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Owing to multiplicity and competition in the Indian food industry, it was always important for the government of India to bring in reforms that would protect the interest of the consumer and also the food operator. To further this objective, Food Safety, and Standards Act, 2006 (hereinafter referred to as FSSAI) was enacted for laying down science-based standards for articles and food and to regulate their storage, distribution, manufacture, same and import and to ensure safe food availability to the citizens of India. One of the safeguards towards consumer interest is the enactment of Food Safety and Standards (Licensing and Registration of Food Businesses, Regulation, 2011 within the mandate of FSSAI. It is mandatory for every food operator in India to get the registration certificate and procurement of food Licenses before starting operations in the country. All the nuances pertaining to the procurement of licenses are dealt with under these regulations. These regulations also lay down detailed provisions with regard to the conditions that the operator has to adhere to once the License is procured, going to the integrities of the safety and hygiene standards to be maintained by the food operators. This paper is an exhaustive effort to examine the provisions of obtaining the registration and License in India and the conditions that need to be fulfilled subsequently and further on the validity and renewal of these Food Licenses.

Keywords: food laws, food licenses, food registration, penalty

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Authors: Sabur Mollah, Asma Mobarek

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This study aims to explore the endogenous relationship between Shari’ah governance and board governance for Islamic banks to identify complementary or substituting relationship between these governance parameters. By using a sample of 161 Islamic Banks from 24 countries for the period of 2005-2013, we show an endogenous relationship between Shari’ah Supervisory Board (SSB) and Board of Directors (BoD). In this relationship, SSB and BoD complement each other. We also show that this complementary relationship between SSB and BoD helps enhance both management and asset quality, but mitigates capital adequacy, earnings, and liquidity in Islamic banks. The study has important implications for financial stability in the Islamic banking system.

Keywords: Shari’ah Supervisory Board, Boards of Directors, Islamic banking, financial stability

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Authors: Hakan Erol, Altan Elibol, Ömer Eryılmaz, Mehmet Şimşek

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Organizations aim to manage information in a most possible effective way for sustainment and development. In doing so, they apply various procedures and methods. The very same situation is valid for each service of Armed Forces. During long-lasting endeavors such as shaping and maintaining security environment, supporting and securing peace, knowledge management is a crucial asset. Optimum Balance Model aims to promote the system from a decisive point to a higher decisive point. In this context, this paper analyses the application of optimum balance model to knowledge management in Armed Forces and tries to find answer to the question how Optimum Balance Model is integrated in knowledge management.

Keywords: optimum balance model, knowledge management, security environment, supporting peace

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Authors: Komlan Sedzro

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We apply the non-parametric, unconditional, hyperbolic order-α quantile estimator to appraise the relative efficiency of Microfinance Institutions in Africa in terms of outreach. Our purpose is to verify if these institutions, which must constantly try to strike a compromise between their social role and financial sustainability are operationally efficient. Using data on African MFIs extracted from the Microfinance Information eXchange (MIX) database and covering the 2004 to 2006 periods, we find that more efficient MFIs are also the most profitable. This result is in line with the view that social performance is not in contradiction with the pursuit of excellent financial performance. Our results also show that large MFIs in terms of asset and those charging the highest fees are not necessarily the most efficient.

Keywords: data envelopment analysis, microfinance institutions, quantile estimation of efficiency, social and financial performance

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Authors: Insiya Kapasi, Roshni Udyavar Yehuda

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Cluster Redevelopment is a new concept in the city of Mumbai. Its regulations were laid down by the government in 2009. The concept of cluster redevelopment encompasses a group of buildings defined by a boundary as specified by the municipal authority (in this case, Mumbai), which may be dilapidated or approved for redevelopment. The study analyses the effect of cluster redevelopment in the form of renewal of old group of buildings as compared to refurbishment or restoration - on energy consumption. The methodology includes methods of assessment to determine increase or decrease in energy consumption in cluster redevelopment based on different criteria such as carpet area of the units, building envelope and its architectural elements. Results show that as the area and number of units increase the Energy consumption increases and the EPI (energy performance index) decreases as compared to the base case. The energy consumption per unit area declines by 29% in the proposed cluster redevelopment as compared to the original settlement. It is recommended that although the development is spacious and provides more light and ventilation, aspects such as glass type, traditional architectural features and consumer behavior are critical in the reduction of energy consumption.

Keywords: Cluster Redevelopment, Energy Consumption, Energy Efficiency, Typologies

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Authors: H. D. Ibrahim, H. C. Chinwenyi, T. Danjuma

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An option is defined as a financial contract that provides the holder the right but not the obligation to buy or sell a specified quantity of an underlying asset in the future at a fixed price (called a strike price) on or before the expiration date of the option. This paper examined two approaches for derivation of Partial Differential Equation (PDE) options price valuation formula for the Heston stochastic volatility model. We obtained various PDE option price valuation formulas using the riskless portfolio method and the application of Feynman-Kac theorem respectively. From the results obtained, we see that the two derived PDEs for Heston model are distinct and non-unique. This establishes the fact of incompleteness in the model for option price valuation.

Keywords: Black-Scholes partial differential equations, Ito process, option price valuation, partial differential equations

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Authors: Sudipto Jana

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Background and significance of the study: Banking industry performs as a catalyst for industrial growth and agricultural growth, however, as well involves the existence and welfare of the citizens. The banking system in India was described by unmatched growth and the recreation of bunch making in the pre-liberalization era. At the time of financial sector reforms Reserve Bank of India issued a regulatory norm concerning capital adequacy, income recognition, asset classification and provisioning that have increasingly precede meeting by means of the international paramount performs. Bank management ceaselessly manages the triumph, effectiveness, productivity and performance of the bank as good performance, high productivity and efficiency authorizes the triumph of the bank management targets as well as aims of bank. In a comparable move toward performance of any economy depends upon the expediency and effectiveness of its financial system of nation establishes its economic growth indicators. Profitability and productivity are the most important relevant parameters of any banking group. Keeping in view of this, this study examines the profitability and productivity performance of the selected public sector banks in India. Methodology: This study is based on secondary data obtained from Reserve Bank of India database for the periods between 2006 and 2015. This study purposively selects four types of commercial banks, namely, State Bank of India, United Bank of India, Punjab National Bank and Allahabad Bank. In order to analyze the performance with relation to profitability and productivity, productivity performance indicators in terms of capital adequacy ratio, burden ratio, business per employee, spread per employee and advances per employee and profitability performance indicators in terms of return on assets, return on equity, return on advances and return on branch have been considered. In the course of analysis, descriptive statistics, correlation statistics and multiple regression have been used. Major findings: Descriptive statistics indicate that productivity performance of State Bank of India is very satisfactory than other public sector banks in India. But management of productivity is unsatisfactory in case of all the public sector banks under study. Correlation statistics point out that profitability of the public sector banks are strongly positively related with productivity performance in case of all the public sector banks under study. Multiple regression test results show that when profitability increases profit per employee increases and net non-performing assets decreases. Concluding statements: Productivity and profitability performance of United Bank of India, Allahabad Bank and Punjab National Bank are unsatisfactory due to poor management of asset quality as well as management efficiency. It needs government’s interference so that profitability and productivity performance are increased in the near future.

Keywords: India, productivity, profitability, public sector banks

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Authors: Shashwat Gangwal

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This paper analyses the effect of adding Bitcoin, to the portfolio (stocks, bonds, Baltic index, MXEF, gold, real estate and crude oil) of an international investor by using daily data available from 2^nd of July, 2010 to 2^{nd of} August, 2016. We conclude that adding Bitcoin to portfolio, over the course of the considered period, always yielded a higher Sharpe ratio. This means that Bitcoin’s returns offset its high volatility. This paper, recognizing the fact that Bitcoin is a relatively new asset class, gives the readers a basic idea about the working of the virtual currency, the increasing number developments in the financial industry revolving around it, its unique features and the detailed look into its continuously growing acceptance across different fronts (Banks, Merchants and Countries) globally. We also construct optimal portfolios to reflect the highly lucrative and largely unexplored opportunities associated with investment in Bitcoin.

Keywords: bitcoin, financial instruments, portfolio management, risk adjusted return

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Authors: Jiani Gao, Qingping Luo, Xinlei Fang

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In order to try to achieve better rights and interests for both doctors and patients in the new medical environment, the paper will focus on the renewal and development of medical buildings. In today's highly developed society, many factors have a profound guiding significance for the development of medical buildings. By doing social research, the paper has found that these factors come from all aspects. These factors include the optimization of traditional medical model, rapid alternation of medical technology and equipment, the reform of the social, medical security system, changes in the age structure of the population, the birth of intelligent medical care under the Internet, and the deepening of the concept of green sustainable building development, etc. The purpose of this paper is to capture sensitively these various factors that may affect the evolution of medical buildings in the context of the current era, and to put forward, by using an adaptable development strategy, some feasible suggestions on the design of medical buildings when facing these changes and challenges. Specifically speaking, the adaptable development strategy includes some basic principles and methods, such as using modular design, adopting scalable streamline, selecting a long-span structural system and using replaceable materials and components, etc.

Keywords: medical architecture, adaptable development, medical model, space design

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