Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1197

Search results for: historic investment

1197 Reinvestment of the Urban Context in Historic Cities: The Case Study of El Sheikh Kandil Street, Rosetta, Egypt

Authors: Riham A. Ragheb, Ingy M. Naguib

Abstract:

Conservation and urban investment are a prerequisite to improve the quality of life. Since the historic street is a part of the economic system, it should be able to play an important role in the city development by upgrading all services, public open spaces and reuse of historical buildings and sites. Furthermore, historical conservation enriches the political, economic, social, cultural and functional aspects of the site. Rosetta has been selected as an area of study because it has a unique character due to its possession of a variety of monuments and historical buildings. The aim of this research is to analyze the existing situation of an historic street named El Sheikh Kandil, to be able to identify the potentials and problems. The paper gives a proposal for the redesign and reinvestment of the street and the reuse for the historical buildings to serve the community, users and visitors. Then, it concludes with recommendations to improve quality of life through the rehabilitation of the historical buildings and strengthening of the cultural and historical identity of the street. Rosetta city can benefit from these development proposals by preserving and revitalizing its unique character which leads to tourism development and benefits from the new investments.

Keywords: adaptive reuse, heritage street, historic investment, restoration, urban design

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1196 Strategic Investment in Infrastructure Development to Facilitate Economic Growth in the United States

Authors: Arkaprabha Bhattacharyya, Makarand Hastak

Abstract:

The COVID-19 pandemic is unprecedented in terms of its global reach and economic impacts. Historically, investment in infrastructure development projects has been touted to boost the economic growth of a nation. The State and Local governments responsible for delivering infrastructure assets work under tight budgets. Therefore, it is important to understand which infrastructure projects have the highest potential of boosting economic growth in the post-pandemic era. This paper presents relationships between infrastructure projects and economic growth. Statistical relationships between investment in different types of infrastructure projects (transit, water and wastewater, highways, power, manufacturing etc.) and indicators of economic growth are presented using historic data between 2002 and 2020 from the U.S. Census Bureau and U.S. Bureau of Economic Analysis (BEA). The outcome of the paper is the comparison of statistical correlations between investment in different types of infrastructure projects and indicators of economic growth. The comparison of the statistical correlations is useful in ranking the types of infrastructure projects based on their ability to influence economic prosperity. Therefore, investment in the infrastructures with the higher rank will have a better chance of boosting the economic growth. Once, the ranks are derived, they can be used by the decision-makers in infrastructure investment related decision-making process.

Keywords: economic growth, infrastructure development, infrastructure projects, strategic investment

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1195 Assessment of the Remains in Historic Urban Area Based on Spatial Prototype: Case Study on Jingmen City, China

Authors: Guangtong Xu, Yi He

Abstract:

Like most historic and cultural cities in China, the historic urban area of Jingmen city is facing a typical spatial problem of fragmentation and fuzzification. This study focuses on exploring a method for evaluating the existing values of historic urban area based on spatial prototype, a concept introduced into urban morphology from 'Archetype' in architectural typology. As the spatial elements and built-up relationship of historic city, spatial prototype has habitual structural characteristics and formal modulus. It is the inherent logic and order rules behind the scattered historic environment, providing a clue to understand the spatial characteristics and a basis for guiding the construction and conservation in historic urban areas. Three criteria, the resolution of historical elements, the completeness of historical structure and the renewal potential of associated land, were selected to construct the integrated assessment system. These three dimensions are linked to the spatial prototype and its constituent elements, as well as the transformation relationship in ancient and present day. The results showed that historic urban areas have changed from a holistic city to different existing types dominated by their historic structure elements. It is necessary to improve the pertinence of planning strategies and develop diversified management measures in the conservation scope of historic urban area. Moreover, a constructive-conservation strategy should be put forward to enhance the integrity of historic urban area based on the trace of spatial prototype and evaluation results.

Keywords: constructive conservation, existing value, historic urban area, spatial prototype

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1194 Sense of Place in Historic City

Authors: Hiba Alkhalaf

Abstract:

Historic cities and places of cultural significance is continuously under the pressure of economic development and social change that threaten its natural and cultural environment. The challenge here is to find a balance between preserving the cultural character while ensuring the socio-economic gains and continuity of its uniqueness. That is by sustaining the use, character, meaning and social interaction associated with the place, in other words the sense of place. The main argument here is what we attempt to conserve is the cultural physical and non-physical dimensions of the historic city. It is based on the proposition that what give the historic city its character is its strong sense of place- whether it is historic or current. When properly identified, its various dimensions (use, meaning and form) would help determine what to sustain and what not by making the development meaningfully related to the uniqueness of the historic place. Accordingly, those socio-economic features within the context of a changing historic environment needed to be clarified. This paper, thus, explores the various perspectives of the role of sense of place within the historic city and its connection to cultural heritage. It also reviews urban conservation practice as it is currently understood in the context of historic city development. It concludes that sense of place lies in complex interrelated relationships between various users of the place and the physical, economic, cultural, political, and environmental contexts in which they interact. This calls for the need to sustain the sense of place as part of the overall urban development and conservation strategies.

Keywords: cultural heritage, historic urban areas, urban development, sense of place

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1193 Does Inflation Affect Private Investment in Nigeria?

Authors: Amassoma Ditimi, Nwosa Philip Ifeakachukwu

Abstract:

This study examined the impact of inflation on private investment in Nigeria for the period 1980 to 2012. Private investment was measured by foreign direct investment and private domestic investment. The study employed the Ordinary Least Square (OLS) technique. The empirical regression estimate showed that inflation had a positive but insignificant effect on private investment in Nigeria; implying that although an increase in inflation rate leads to a corresponding increase in private investment but however the effect was found to be insignificant. Thus, the study recommended that government should prevent high inflation rate that can negatively affect private investment in Nigeria and government should also put in place appropriate facilities that are investment enhancing in order to increase the level of both domestic and foreign private investment in Nigeria.

Keywords: inflation rate, private investment, OLS, Nigeria

Procedia PDF Downloads 178
1192 Urban Regeneration of Historic Paths: A Case Study of Kom El Dekka Historic Path

Authors: Ahmed R. Ismail, Hatem A. El Tawil, Nevin G. Rezk

Abstract:

Historic paths in today's cities are facing the pressure of the urban development due to the rapid urban growth. Every new development is tearing the old urban fabric and the socio-economic character of the historic paths. Furthermore, in some cases historic paths suffer from negligence and decay. Kom El Dekka historic path was one of those deteriorated paths in the city of Alexandria, Egypt, in spite of its high heritage and socio-economic value. Therefore, there was a need to develop urban regeneration strategies as a part of a wider sustainable development vision, to handle the situation and revitalize the path as a livable space in the heart of the city. This study aims to develop a comprehensive assessment methodology to evaluate the different values of the path and to create community-oriented and economic-based analysis methodology for its socio-economic values. These analysis and assessments provide strategies for any regeneration action plan for Kom El Dekka historic path.

Keywords: community-oriented, economic-based, syntactical analysis, urban regeneration

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1191 Relationship between Financial Reporting Transparency and Investment Efficiency: Evidence from Iran

Authors: Bita Mashayekhi, Hamid Kalhornia

Abstract:

One of the most important roles of financial reporting is improving the firms’ investment decisions; however, there is not much supporting evidence for this claim in emerging markets like Iran. In this study, the effect of financial reporting transparency in investment efficiency of Iranian firms has been investigated. In order to do this, 336 listed companies on Tehran Stock Exchange (TSE) has been selected for time period 2012 to 2015 as research sample. For testing our main hypothesis, we classified sample firms into two groups based on their deviation from expected investment: under-investment and over-investment cases. The results indicate that there is positive significant relationship between financial transparency and investment efficiency. In the other words, transparency can mitigate both underinvestment and overinvestment situations.

Keywords: corporate governance, disclosure, investment decisions, investment efficiency, transparency

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1190 Developing a Theory for Study of Transformation of Historic Cities

Authors: Sana Ahrar

Abstract:

Cities are undergoing rapid transformation with the change in lifestyle and technological advancements. These transformations may be experienced or physically visible in the built form. This paper focuses on the relationship between the social, physical environment, change in lifestyle and the interrelated factors influencing the transformation of any historic city. Shahjahanabad as a city has undergone transformation under the various political powers as well as the various policy implementations after independence. These visible traces of transformation diffused throughout the city may be due to socio-economic, historic, political factors and due to the globalization process. This study shall enable evolving a theory for the study of transformation of Historic cities such as Shahjahanabad: which has been plundered, rebuilt, and which still thrives as a ‘living heritage city’. The theory developed will be the process of studying the transformation and can be used by planners, policy makers and researchers in different urban contexts.

Keywords: heritage, historic cities, Shahjahanabad, transformation

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1189 Risk Identification of Investment Feasibility in Indonesia’s Toll Road Infrastructure Investment

Authors: Christo Februanto Putra

Abstract:

This paper presents risk identification that affects investment feasibility on toll road infrastructure in Indonesia using qualitative methods survey based on the expert practitioner in investor, contractor, and state officials. The problems on infrastructure investment in Indonesia, especially on KPBU model contract, is many risk factors in the investment plan is not calculated in detail thoroughly. Risk factor is a value used to provide an overview of the risk level assessment of an event which is a function of the probability of the occurrence and the consequences of the risks that arise. As results of the survey which is to show which risk factors impacts directly to the investment feasibility and rank them by their impacts on the investment.

Keywords: risk identification, indonesia toll road, investment feasibility

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1188 Dynamics of Investor's Behaviour: An Analytical Survey Study in Indian Securities Market

Authors: Saurabh Agarwal

Abstract:

This paper attempts to formalise the effect of demographic variables like marital status, gender, occupation and age on the source of investment advice which, in turn, affect the herd behaviour of investors and probability of investment in near future. Further, postulations have been made for most preferred investment option and purpose of saving and source of investment. Impact of theoretical analysis on choice among investment alternatives has also been investigated. The analysis contributes to understanding the different investment choices made by households in India. The insights offered in the paper indirectly contribute in uncovering the various unexplained asset pricing puzzles.

Keywords: portfolio choice, investment decisions, investor’s behaviour, Indian securities market

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1187 Effects of Blast Load on Historic Stone Masonry Buildings in Canada: A Review and Analytical Study

Authors: Abass Braimah, Maha Hussein Abdallah

Abstract:

The global ascendancy of terrorist attacks on building infrastructure with economic and heritage significance has increased awareness of the possibility of terrorism in Canada. Many structures in Canada that are at risk of terrorist attacks include government buildings, built many years ago of historic stone masonry construction. Although many researchers are investigating ways to retrofit masonry stone buildings to mitigate the effect of blast loadings, lack of knowledge on the dynamic behavior of historic stone masonry structures under blast loads makes it difficult to ascertain the effectiveness of the retrofitting techniques. This paper presents a review of open-source literature for the experimental and numerical stone masonry structures under blast loads. This review yielded very little information of the response of the historic stone masonry structures under blast loads. Thus, a comprehensive study is needed to understand the blast load effects on historic stone masonry buildings. The out-of-plane response of historic masonry structures to blast loads is investigated by using single-degree-of-freedom analysis. This approach presents equations that can be used effectively in the analysis of historic masonry walls to out-of-plane blast loading.

Keywords: blast loads, historical buildings, masonry structure, single-degree-of-freedom analysis

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1186 An Analysis of Public Environmental Investment on the Sustainable Development in China

Authors: K. Y. Chen, Y. N. Jia, H. Chua, C. W. Kan

Abstract:

As the largest developing country in the world, China is now facing the problem arising from the environment. Thus, China government increases the environmental investment yearly. In this study, we will analyse the effect of the public environmental investment on the sustainable development in China. Firstly, we will review the current situation of China's environmental issue. Secondly, we will collect the yearly environmental data as well as the information of public environmental investment. Finally, we will use the collected data to analyse and project the SWOT of public environmental investment in China. Therefore, the aim of this paper is to provide the relationship between public environmental investment and sustainable development in China. Based on the data collected, it was revealed that the public environmental investment had a positive impact on the sustainable development in China as well as the GDP growth. Acknowledgment: Authors would like to thank the financial support from the Hong Kong Polytechnic University for this work.

Keywords: China, public environmental investment, sustainable development, analysis

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1185 Blending Values for Historic Neighborhood Upliftment: Case of Heritage Hotel in Ahmedabad

Authors: Vasudha Saraogi

Abstract:

Heritage hotels are architectural marvels and embody a number of values of heritage discourses within them. The adaptive re-use of old structures to make them commercially viable as heritage hotels, not only boosts tourism and the local economy but also brings in development for the neighborhood in which it is located. This paper seeks to study the value created by heritage hotels in general and French Haveli (Ahmedabad) in particular using the single case study methodology. The paper draws upon the concept of the Italian model of Albergo Diffuso and its implementation via French Haveli, for value creation and development in Dhal Ni Pol (a historic neighborhood) while recognizing the importance of stakeholders to the process of the historic neighborhood upliftment.

Keywords: heritage discourses, historic neighborhoods, heritage hotel, Old City Ahmedabad

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1184 Indoor Microclimate in a Historic Library: Considerations on the Positive Effect of Historic Books on the Stability of Indoor Relative Humidity

Authors: Magda Posani, Maria Do Rosario Veiga, Vasco Peixoto De Freitas

Abstract:

The presented research considers the hygrothermal data acquired in the municipal library of Porto. The library is housed in an XVIII century convent and, among all the rooms in the construction, one, in particular, was chosen for the monitoring campaign because of the presence of a great number of historic books. Temperature and relative humidity, as well as CO₂ concentration, were measured for six consecutive months, in the period December 24th - June 24th. The indoor environment of the building is controlled with a heating and cooling system that is turned on only during the opening hours of the library. The ventilation rate is low because the windows are kept closed, and there is no forced ventilation. The micro-climate is analyzed in terms of users’ comfort and degradation risks for historic books and valuable building surfaces. Through a comparison between indoor and outdoor measured hygrothermal data, indoor relative humidity appears very stable. The influence of the hygroscopicity of books on the stabilization of indoor relative humidity is therefore investigated in detail. The paper finally discusses the benefits given by the presence of historic books in libraries with intermittent heating and cooling. The possibility of obtaining a comfortable and stable indoor climate with low use of HVAC systems in these conditions, while avoiding degradation risks for books and historic building components, is further debated.

Keywords: books, historic buildings, hygroscopicity, relative humidity

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1183 A Critical Analysis of Environmental Investment in India

Authors: K. Y. Chen, H. Chua, C. W. Kan

Abstract:

Environmental investment is an important issue in many countries. In this study, we will first review the environmental issues related to India and their effect on the economical development. Secondly, economic data would be collected from government yearly statistics. The statistics would also include the environmental investment information of India. Finally, we would co-relate the data in order to find out the relationship between environmental investment and sustainable development in India. Therefore, in the paper, we aim to analyse the effect of an environmental investment on the sustainable development in India. Based on the economic data collected, India is in development status with fast population and GDP growth speed. India is facing the environment problems due to its high-speed development. However, the environment investment could give a positive impact on the sustainable development in India. The environmental investment is keeping in the same growth rate with GDP. Acknowledgment: Authors would like to thank the financial support from the Hong Kong Polytechnic University for this work.

Keywords: India, environmental investment, sustainable development, analysis

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1182 Testing the Moderating Effect of Sub Ethnic on Household Investment Behaviour

Authors: Widayat Widayat

Abstract:

Nowday, in the modern investment era, household behavior on investment is a topic that is quite warm. The development of the modern investment, indicated by the emergence of a variety of investment instruments, such as stocks, bonds and various forms of derivatives, affected on the complexity of choosing an investment, especially for traditional societies. Various studies show that there is more than one factor acting as a behavioral antesenden decide to choose an investment instrument. One of the factors, which contribute in determining the investment option is ethnic. Society with a particular sub-culture tend to prefer investing their particular instrument. This is because they have the values, norms and different social environmental. This article is designed to test the impact of sub-cultures between Osing-Java as moderator, in investing. The study was conducted in Banyuwangi, East Java Province of Indonesia. Data were collected using questionnaires, which is given to the head of the household respondents were selected as samples. Sample of households selected by multistage sampling method. The data have been collected processed using SmartPLS software and testing moderating effects using grouped sample test. The result showed that sub-ethnic and has a significant role in determining the investment.

Keywords: investment behaviour, household, moderating, sub ethnic

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1181 Urban Heritage and Its Role in the Tourism Development in Yemen: Case Study of Historic Town of Zabid

Authors: Yasser Alhiagi, Moshalleh Almoraekhi, Sameh Refaat

Abstract:

Urban heritage has an important status in the process of developing the Yemeni tourism sector. Urban heritage in Yemen differs depending on the regions and historical cities such as City of Old Sana'a, Historic Town of Zabid, Shibam Hadhramout, Taiz, and others. Zabid is an old town with a long history, founded in the 9th century. It has been the capital of Yemen from the 13th to the 15th century and played, because of its Islamic university, an important role in the Arab and Muslim world for many centuries. The aim of this research is to promote the built heritage of Historic Town of Zabid and explore the possibilities of visiting the rehabilitated buildings and other heritage attractions through tourism. It examines the nature of the relationship exists between tourism and built heritage. The research is intended to contribute to the strategy development of national tourism for the purpose of protecting, developing, and utilizing cultural heritage. Also, the research depended chiefly on the results of a field work proposed to be carried out at Historic Town of Zabid.

Keywords: historic town of Zabid, strategy, tourism development, urban heritage

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1180 Timescape-Based Panoramic View for Historic Landmarks

Authors: H. Ali, A. Whitehead

Abstract:

Providing a panoramic view of famous landmarks around the world offers artistic and historic value for historians, tourists, and researchers. Exploring the history of famous landmarks by presenting a comprehensive view of a temporal panorama merged with geographical and historical information presents a unique challenge of dealing with images that span a long period, from the 1800’s up to the present. This work presents the concept of temporal panorama through a timeline display of aligned historic and modern images for many famous landmarks. Utilization of this panorama requires a collection of hundreds of thousands of landmark images from the Internet comprised of historic images and modern images of the digital age. These images have to be classified for subset selection to keep the more suitable images that chronologically document a landmark’s history. Processing of historic images captured using older analog technology under various different capturing conditions represents a big challenge when they have to be used with modern digital images. Successful processing of historic images to prepare them for next steps of temporal panorama creation represents an active contribution in cultural heritage preservation through the fulfillment of one of UNESCO goals in preservation and displaying famous worldwide landmarks.

Keywords: cultural heritage, image registration, image subset selection, registered image similarity, temporal panorama, timescapes

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1179 Impacts of Exchange Rate and Inflation Rate on Foreign Direct Investment in Pakistan

Authors: Saad Bin Nasir

Abstract:

The study identifies the impact of inflation and foreign exchange rate on foreign direct investment in Pakistan. Inflation and exchange rates are used as independent variables and foreign direct investment is taken as dependent variable. Discreet time series data has been used from the period of 1999 to 2009. The results of regression analysis reveal that high inflation has negative impact on foreign direct investment and higher exchange rates has positive impact on foreign direct investment in Pakistan. The inflation and foreign exchange rates both are insignificant in the analysis.

Keywords: inflation rate, foreign exchange rate, foreign direct investment, foreign assets

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1178 Investing in Shares of Innovative Companies: The Risk and the Return, Evidence from Polish Capital Market

Authors: Tomasz L. Nawrocki

Abstract:

Due to the growing global interest of investment society in innovative enterprises, as the objective of this research was adopted to examine the investment efficiency in shares of companies with innovative characteristics in the risk-return layout. The research was carried out for companies listed on the Warsaw Stock Exchange taking into various consideration time ranges of investment. Obtained results show that in shorter periods of time, investors buy expectations connected with innovative companies and therefore the efficiency of investment in their shares is relatively high, but in the longer term expectations are revised by companies financial results, which in turn negatively affects the efficiency of investment in their shares.

Keywords: capital market, innovative company, investment strategies, risk and return analysis

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1177 Business and Psychological Principles Integrated into Automated Capital Investment Systems through Mathematical Algorithms

Authors: Cristian Pauna

Abstract:

With few steps away from the 2020, investments in financial markets is a common activity nowadays. In the electronic trading environment, the automated investment software has become a major part in the business intelligence system of any modern financial company. The investment decisions are assisted and/or made automatically by computers using mathematical algorithms today. The complexity of these algorithms requires computer assistance in the investment process. This paper will present several investment strategies that can be automated with algorithmic trading for Deutscher Aktienindex DAX30. It was found that, based on several price action mathematical models used for high-frequency trading some investment strategies can be optimized and improved for automated investments with good results. This paper will present the way to automate these investment decisions. Automated signals will be built using all of these strategies. Three major types of investment strategies were found in this study. The types are separated by the target length and by the exit strategy used. The exit decisions will be also automated and the paper will present the specificity for each investment type. A comparative study will be also included in this paper in order to reveal the differences between strategies. Based on these results, the profit and the capital exposure will be compared and analyzed in order to qualify the investment methodologies presented and to compare them with any other investment system. As conclusion, some major investment strategies will be revealed and compared in order to be considered for inclusion in any automated investment system.

Keywords: Algorithmic trading, automated investment systems, limit conditions, trading principles, trading strategies

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1176 Assessment of Investment Programs in Agriculture in Georgia

Authors: M. Chavleishvili

Abstract:

The paper presents the analysis of the current situation of agricultural development in Georgia. The investment environment that supports development of the agricultural sector is evaluated and the key priorities are identified. The analysis of the projects already implemented with state and EU support, as well as those that are being currently implemented is presented. The policy and the programs supporting development of agricultural sector are analyzed. Based on an analysis of the evaluations of experts and the primary accounting documents, the outcomes of investment programs, their advantages and disadvantages, are studied. Through identifying investment programs in the agricultural sector of Georgia, corresponding conclusions are made, based on which some recommendations are developed.

Keywords: agriculture, investments, investment programs, projects

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1175 Decoupling PM₂.₅ Emissions and Economic Growth in China over 1998-2016: A Regional Investment Perspective

Authors: Xi Zhang, Yong Geng

Abstract:

It is crucial to decouple economic growth from environmental pollution in China. This study aims to evaluate the decoupling degree between PM₂.₅ emissions and economic growth in China from a regional investment perspective. Using the panel data of 30 Chinese provinces for the period of 1998-2016, this study combines decomposition analysis with decoupling analysis to identify the roles of conventional factors and three novel investment factors in the mitigation and decoupling of PM₂.₅ emissions in China and its four sub-regions. The results show that China’s PM₂.₅ emissions were weakly decoupled to economic growth during the period of 1998-2016, as well as in China’s four sub-regions. At the national level, investment scale played the dominant role while investment structure had a marginal effect. In contrast, emission intensity was the largest driver in promoting the decoupling effect, followed by investment efficiency and energy intensity. The investment scale effect in the western region far exceeded those in other three sub-regions. At the provincial level, the investment structure of Inner Mongolia and investment scales of Xinjiang and Inner Mongolia had the greatest impacts on PM₂.₅ emission growth. Finally, several policy recommendations are raised for China to mitigate its PM₂.₅ emissions.

Keywords: decoupling, economic growth, investment, PM₂.₅ emissions

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1174 Industrial Investment and Contract Models in Subway Projects: Case Study

Authors: Seyed Habib A. Rahmati, Parsa Fallah Sheikhlari, Morteza Musakhani

Abstract:

This paper studies the structure of financial investment and efficiency on the subway would be created between Hashtgerd and Qazvin in Iran. Regarding ascending rate of transportation between Tehran and Qazvin which directly air pollution, it clearly implies to public transportation requirement between these two cities near Tehran. The railway transportation like subway can help each country to terminate traffic jam which has some advantages such as speed, security, non-pollution, low cost of public transport, etc. This type of transportation needs national infrastructures which require enormous investment. It couldn’t implement without leading and managing funds and investments properly. In order to response 'needs', clear norms or normative targets have to be agreed and obviously it is important to distinguish costs from investment requirements critically. Implementation phase affects investment requirements and financing needs. So recognizing barrier related to investment and the quality of investment (what technologies and services are invested in) is as important as the amounts of investment. Different investment methods have mentioned as follows loan, leasing, equity participation, Line of financing, finance, usance, bay back. Alternatives survey before initiation and analyzing of risk management is one of the most important parts in this project. Observation of similar project cities each country has the own specification to choose investment method.

Keywords: subway project, project investment, project contract, project management

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1173 Board Gender Diversity and Firm Sustainable Investment: An Empirical Evidence

Authors: Muhammad Atif, M. Samsul Alam

Abstract:

The purpose of this study is to investigate the effects of board room gender diversity on firm sustainable investment. We test the extent to which sustainable investment is affected by the presence of female directors on U.S. corporate boards. Using data of S&P 1500 indexed firms collected from Bloomberg covering the period 2004-2016, we estimate the baseline model to investigate the effects of board room gender diversity on firm sustainable investment. We find a positive relationship between board gender diversity and sustainable investment. We also find that boards with two or more women have a pronounced impact on sustainable investment, consistent with the critical mass theory. Female independent directors have a stronger impact on sustainable investment than female executive directors. Our findings are robust to different identification and estimation techniques. The study offers another perspective of the ongoing debate in the social responsibility literature about the accountability relationships between business and society.

Keywords: sustainable investment, gender diversity, environmental proctection, social responsibility

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1172 Evaluation of Cultural Landscape Perception in Waterfront Historic Districts Based on Multi-source Data - Taking Venice and Suzhou as Examples

Authors: Shuyu Zhang

Abstract:

The waterfront historical district, as a type of historical districts on the verge of waters such as the sea, lake, and river, have a relatively special urban form. In the past preservation and renewal of traditional historic districts, there have been many discussions on the land range, and the waterfront and marginal spaces are easily overlooked. However, the waterfront space of the historic districts, as a cultural landscape heritage combining historical buildings and landscape elements, has strong ecological and sustainable values. At the same time, Suzhou and Venice, as sister water cities in history, have more waterfront spaces that can be compared in urban form and other levels. Therefore, this paper focuses on the waterfront historic districts in Venice and Suzhou, establishes quantitative evaluation indicators for environmental perception, makes analogies, and promotes the renewal and activation of the entire historical district by improving the spatial quality and vitality of the waterfront area. First, this paper uses multi-source data for analysis, such as Baidu Maps and Google Maps API to crawl the street view of the waterfront historic districts, uses machine learning algorithms to analyze the proportion of cultural landscape elements such as green viewing rate in the street view pictures, and uses space syntax software to make quantitative selectivity analysis, so as to establish environmental perception evaluation indicators for the waterfront historic districts. Finally, by comparing and summarizing the waterfront historic districts in Venice and Suzhou, it reveals their similarities and differences, characteristics and conclusions, and hopes to provide a reference for the heritage preservation and renewal of other waterfront historic districts.

Keywords: waterfront historical district, cultural landscape, perception, multi-source Data

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1171 A Proposal for Developing a Post Occupancy Evaluation Sustainability Assessment Tool for Refurbished Historic Government Buildings

Authors: Hasnizan Aksah, Adi Irfan Che Ani

Abstract:

Refurbished historic government buildings should perform as intended to support the organization’s goals that enhance occupant satisfaction. However, these buildings may have issues associated with functional performance evaluation. The aim of this study is to develop a Post Occupancy Evaluation (POE) sustainability assessment tool for functional performance evaluation of refurbished historic government buildings. Developing an assessment tool requires a strategic methodology for a logical and cohesive tool that incorporating relevant theories and practical experiences. In this study, mixed method approaches use to collect all necessary data to achieve the objectives of this study. The design of sampling involves are interviews and survey questionnaires to relevant professionals in order to evaluate the criteria and problem encircled in functional performance evaluation. Then, the involvement of expert panels is required in establishing the assessment tool. During the process of investigation on the functional performance criteria, it was discovered that is seen to be critical in aspects of comfort, safety, and services. The proposed assessment tool has a significant role in providing opportunities for the improvement of building performance especially on functional performance for the future historic government building refurbishment project. It is hoped that the tool developed from this study will give benefits to related professionals, public agencies, local municipality, and relevant interested parties in historic building management.

Keywords: refurbished historic government buildings, functional performance, Post Occupancy Evaluation, sustainability

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1170 Creative Thinking in Structural Design of Historic Constructions

Authors: Avraham Mosseri

Abstract:

The architectural conservation process of the built heritage is a very complex process dealing with the integration of professional knowledge from many fields like history, sociology, economy, engineering, etc. One of the most important fields is the structural field, which has a great influence on the final architectural and aesthetic solution of the built heritage. In many cases, the ability to protect and save the heritage values of the historical buildings is an outcome of the structural creativity and conceptual design of the conservation engineers. This creativity is especially important when dealing with structural engineering of historic construction, where there are a lot of constraints and contradictions between different aspects like aesthetics, artistic values, culture, authenticity, structural performance, etc. But in spite of the importance of this creativity in conservation engineering, many research efforts are mainly devoted to the structural analysis of historic construction, which of course is very important and vital. But, in general, more attention can be paid to the creative process in the conceptual stage. In this situation there is a need, in parallel to analysis research, to devote more resources in order to improve the creative and conceptual theories in relation to conservation engineering. This paper focuses on the creativity aspects in the structural design process in the conservation of historic buildings as part of conservation theories.

Keywords: conservation, creativity, historic constructions, structural design

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1169 Capital Mobility in Savings and Investment across China and the ASEAN-5: Evidence from Recursive Cointegration

Authors: Chang Lee Shu-Jung, Mei-Se Chien, Chien-Chiang Lee, Hui-Ting Hu

Abstract:

This paper applies recursive cointegration analysis to examine the dynamic changes in Feldstein-Horioka saving-investment (S-I) coefficients across China and the ASEAN-5 countries over time. To the extent that the S-I coefficients measure international capital mobility, the main empirical results are as follows. The recursive trace statistics show that the investment- savings nexus varies in these six countries. There is no cointegration between investment and savings in three countries (China, Malaysia, and Singapore), which means that the mobility of the capital markets in the three is high and that domestic investment in them will be financed by the global pool of capital. As to the other three countries (Indonesia, Thailand, and Philippines), there is cointegration between investment and savings for part of the sample period in the three, including before 2002 for Thailand, before 2001 for Indonesia, and before 2002 for Philippines. This shows these three countries achieved highly mobile and open capital markets later.

Keywords: investment, savings, recursive cointegration test, ASEAN, China

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1168 Examining the Association of Demographic Factors and Arab Women’s Investment Behavior

Authors: Razan Salem

Abstract:

Men and women are different, and so their investment behaviors may also vary. To the author’s best knowledge, women's investment behavior and its association with demographic factors have not been explored directly in the behavioral finance literature, however, particularly in respect to the Arab region. Thus, this study extends the literature by focusing on examining the association of demographic factors (age, annual income, and education) with Arab women’s investment behavior. To achieve the study’s aim, the researcher distributed 600 close-ended online questionnaires to a sample of Arab male and female individual investors in both Saudi Arabia and Jordan; using Kruskal-Wallis H Test and the Mann-Whitney U Test to analyze the data. The findings reveal that age, education, and level of income are associated with Arab women’s investment behavior. Educational level and level of income are positively associated with Arab women investment confidence level. On the contrary, age is negatively associated with Arab women financial risk tolerance. According to annual income, Arab women with lower incomes have lower confidence and investment literacy levels. Overall, the study concludes that age, income, and education are important demographic factors that must be considered when investigating the investment behavior of women in the Arab region.

Keywords: Arab region, demographic factors, investment behavior, women investors

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