Hasil untuk "Real estate business"

Elisabet Siahaan, Sri Annisa, Ewy Ritonga et al.

Type of the article: Research Article AbstractThe entry of Generation Z into organizations brings new expectations regarding how performance is defined in the workplace. Performance is no longer assessed solely on results, but also on alignment with values, psychological well-being, and preferences, thus requiring adjustments in performance management practices. This study aims to analyze the influence of employee preferences, work styles, organizational culture, and mental health on the performance of Generation Z employees in startup companies. A quantitative approach was employed using primary data collected through questionnaires distributed to 160 Generation Z employees working in startup companies in Medan City, Indonesia, selected through purposive sampling. Data were analyzed using structural equation modeling (SEM) to test both direct and indirect relationships. The results show that work preferences (p = 0.000), work style (p = 0.002), and organizational culture (p = 0.000) have a positive and significant effect on the performance of Generation Z. In addition, work preferences (p = 0.000), work style (p = 0.000), and organizational culture (p = 0.008) also have a significant effect on mental health, while mental health has a significant effect on performance (p = 0.004). Mental health was found to mediate the influence of work preferences (p = 0.017) and work style (p = 0.018) on performance but did not mediate the influence of organizational culture on performance (p = 0.058). This study contributes novelty by demonstrating that mental health functions as a selective mediator in shaping Generation Z performance in startup settings, thereby enriching theoretical perspectives on young employee performance formation.

HE Longqing, QIN Yu, LI Siji

[Objective] Due to its advantages of high flexibility, strong operability, and risk diversification, TOD (transit oriented development) investing and financing model（hereafter abbreviated as TOD model）has become a new choice for rail transit in this respect. The implementation strategy of this model plays an important role in promoting market-oriented operation of rail transit and ensuring its sustainable and healthy development. Therefore, it is necessary to study the implementation strategy of TOD model. [Method] By taking advantage of the policy opportunity of foretasting and leading demonstration, Shenzhen actively explores and practices the TOD model with remarkable achievements. Through analyzing the unsustainability of conventional rail transit investing and financing models, and reviewing the practical process of Shenzhen TOD model, its relevant implementation strategies, such as implementation goals, ideas, and paths, are summarized. On this basis, the future development trend is judged and the sustainable development direction of TOD model is proposed. [Result & Conclusion] The implementation goal of the TOD model is to build a quasi-market investing and financing system for rail transit. Its implementation idea is to allocate the comprehensive development resources for rail transit projects, inject them into rail transit enterprises for resource assetization and asset capitalization operations. The implementation path is to carry out an integrated business model of "investing and financing+construction+operation+resource development+property management" for rail transit enterprises. The development direction is to combine with other investing and financing models, forming diversified sustainable TOD models, such as TOD+PPP (public private partnership), TOD+urban renewal, TOD+multi-regional cooperation, TOD+REITs (real estate investment trusts), and TOD+government special bonds.

Lawrence W. Abrams

It is time to move on from attempts to make the pharmacy benefit manager (PBM) reseller business model more transparent. Time and time again the Big 3 PBMs have developed opaque alternatives to piece-meal 100% pass-through mandates. Time and time again PBMs have demonstrated expertise in finding loopholes in state government disclosure laws. The purpose of this paper is to provide quantitative estimates of two transparent insurance business models as a solution to the PBM agency issue. The key parameter used is an 8% gross profit margin figure disclosed by the Big 3 PBMs themselves. Based on reported drug trend delivered to plans, we use a $1,200 to $1,500 per member per year (PMPY) as the range for this key performance indicator (KPI). We propose that discussions of PBM insurance business models start with the following figures: (1) a fixed premium model with medical loss ratio ranging from 92% to 85%; (2) a fee-for-service model ranging from $96 to $180 PMPY with risk sharing of deviations from a contracted PMPY delivered drug spend.

Antonovs Maksims, Malinovskis Eriks, Plotka Kaspars

Considering the trend towards climate neutrality and energy efficiency at the global level as well as the problem of high energy poverty at the national level, the issue of housing renovation was inevitable for Latvia in 2023. The main objective of the study is to analyse the situation in Latvia, its problematic aspects and opportunities for the government, as well as to propose possible methods for solving the problem of low rates of housing renovation in Latvia. The main methods used were PESTLE analysis to identify problems and cluster analysis to compare financial opportunities in each country. The main results of the study are the conclusion that the financial aspect of renovation in Latvia is at a satisfactory level and is not the main reason for the unpopularity of renovation, but the main problem is energy poverty. The main conclusion is that renovation in Latvia requires a new approach that can improve the energy efficiency situation in Latvia, and providing such a method in the form of building renovation based on private-public partnership is the possible approach.

Marijana Joksimovic, Suzana Stoimenov

The authors of this paper discuss the importance of green bonds and their impact on the development of a green economy. A green economy is the goal one should strive for and undertake activities in order to fulfill it. Green bonds are inextricably linked to the concept of a green economy. The Republic of Serbia issued green bonds in 2021, although it is still not a member of the European Union, thus becoming an example for other European countries. In this paper authors discusses the importance of the green transition, bearing in mind that the excessive consumption of natural resources has worsened the climate and ecological crisis, and therefore a change in the way we consume natural resources is necessary, i.e., a green transition is necessary.

Petr Grigor'evich Grabovyy, Denis Evgenievich Sezemin

The construction of an individual project or a complex is characterized by a number of interrelated factors, which are determined by the technological, volumetric and design characteristics of the construction process, as well as by planning, financial, organizational and technical conditions. The optimal construction of objects and complexes is based on the organization of all processes in optimal terms, taking into account perfect technology and mechanization with a rational combination of construction, installation and commissioning works, ensuring minimum cost of construction. The optimal variant of construction of nuclear power facilities is selected by comparing a number of variants that differ in the means of mechanization and technology used for certain types of works, duration of construction and assembly works, start and end dates of works, method of construction of facilities, technological sequence of works, degree of combination of construction and assembly and commissioning works, and applied methods of works production. The experience of design and construction of start-up complexes shows that in the construction of industrial facilities, on-site preparatory and main construction and installation works are performed sequentially. According to the requirements of the norms for the preparatory works, the capital investments are mainly planned to be distributed evenly, which is irrational, as it leads to a decrease in their efficiency and delays the construction period. In the course of preparatory works at the site, the character of the distribution of capital investments by time periods can be different. As the practice of NPP construction shows, in case of combined sequential execution of preparatory and main construction and installation works at the site, the following options are possible: 1) less intensive accumulation of volumes at the beginning of the preparation; 2) equal distribution of capital investments over the whole preparation (if preparatory and main works are performed sequentially); 3) accelerated accumulation in the middle part and deceleration of this process at the end of the preparation, or more intensive accumulation of volumes at the beginning and deceleration of this process in the middle and at the end of the preparation (if preparatory and main works are combined). When considering the possible combinations of preparatory and main construction and installation works, it is necessary to take into account the reduction of the total construction period of the nuclear power complex both due to the combination of the preparatory works among themselves and due to their combination with the main works.

Aleksei Vyacheslavovich Mokaseev, Hubo Marcel Malonga, Mikhail Aleksandrovich Lunyakov

In this paper, the authors touch upon the issue of competition of development companies and the existing trends of increasing the competitiveness of development projects in modern conditions. There are two main approaches to increasing competitiveness. The first organizational approach is to create an additional organizational unit in the structure of the development company, which is designed to control the choice of technical solutions for construction projects, as well as to evaluate them in terms of functionality, cost and efficiency in order to obtain a better development product for the end user without increasing the cost. The second approach is innovative, it is aimed at increasing the efficiency of the development company's activities using modern digital technologies, which are designed to reduce the cost of construction by reducing deadlines, minimizing the number of errors, speeding up approvals and automating the processes that accompany a development project during its implementation. In the implementation of the innovation approach, the main directions of innovative digital technology implementation in construction are listed and their basic description and characteristics are given. The main advantages that can be achieved through the application of these approaches are identified: reduction of construction time, improvement of the quality of construction products, and cost reduction. The paper also describes the main problems and limitations of the approaches under consideration, such as high regulation of the construction industry, lack of financial resources, imperfect methodology for assessing the effectiveness of innovative projects, lack of qualified personnel capable of applying and mastering innovations.

Alessandra Oppio, Fabiana Forte, Andrea Biekar

The ACCRUAL reform outlined by the implementation of the EU Council Directive 2011/85/EU for defining accounting principles and standards in public administrations also involves Italian artistic and cultural heritage assets. In the Next Generation EU (National Recovery and Resilience Plan), cultural heritage and culture, in general, are considered as determinants of development from a recovery perspective. Thus, the idea of cultural heritage as a bundle of values and as a mean for sustainable growth, human development, and quality of life has been consolidated. Within such a context, this contribution aims to stimulate reflection on the economic and financial dimension of cultural heritage in the public administrations’ balance sheets and on the contribution that the discipline of Appraisal and Evaluation can provide to defining the methodological framework necessary for estimating their value. Starting from the acknowledgement of the coexistence of a plurality of values characterizing cultural heritage, particular attention has been paid to the economic dimension of Heritage and the evaluation challenges the accounting principles have introduced consistently with the Italian position in the process of defining the conceptual framework and the accounting guidelines.

Nguyen Tuan Tran

Because land is an entity that possesses both biophysical and geophysical features, it can be subdivided into several land covers and put to a variety of diverse uses. In this study, transformation matrices are generated using JAXA map data in order to conduct an analysis of the inter-land variability. In Hanoi, data collection took place over the course of four years (1990, 2000, 2010, and 2020). According to Vietnam’s legislation, this timeframe is also equivalent to three phases of land use planning (LUP). According to the findings, the area of land used for urban development is expanding at a quick rate in this metropolitan region (by more than 13%), but the area used for rice production has experienced a significant decline (by approx. 23%). However, the pattern is not consistent from one planning period to the next. The research results are also linked to land use practices in Hanoi in the discussion section. This points to the compatibility with the current state of Vietnam’s linear economic growth in recent times, as well as negative issues, such as land waste and forecasts of spatial changes in Hanoi.

Elvys Linhares Pontes, Mohamed Benjannet, Raymond Yung

Understanding the business cycle is crucial for building economic stability, guiding business planning, and informing investment decisions. The business cycle refers to the recurring pattern of expansion and contraction in economic activity over time. Economic analysis is inherently complex, incorporating a myriad of factors (such as macroeconomic indicators, political decisions). This complexity makes it challenging to fully account for all variables when determining the current state of the economy and predicting its future trajectory in the upcoming months. The objective of this study is to investigate the capacity of machine learning models in automatically analyzing the state of the economic, with the goal of forecasting business phases (expansion, slowdown, recession and recovery) in the United States and the EuroZone. We compared three different machine learning approaches to classify the phases of the business cycle, and among them, the Multinomial Logistic Regression (MLR) achieved the best results. Specifically, MLR got the best results by achieving the accuracy of 65.25% (Top1) and 84.74% (Top2) for the EuroZone and 75% (Top1) and 92.14% (Top2) for the United States. These results demonstrate the potential of machine learning techniques to predict business cycles accurately, which can aid in making informed decisions in the fields of economics and finance.

Henrik Kirchmann, Stephan A. Fahrenkrog-Petersen, Felix Mannhardt et al.

Process models may be automatically generated from event logs that contain as-is data of a business process. While such models generalize over the control-flow of specific, recorded process executions, they are often also annotated with behavioural statistics, such as execution frequencies.Based thereon, once a model is published, certain insights about the original process executions may be reconstructed, so that an external party may extract confidential information about the business process. This work is the first to empirically investigate such reconstruction attempts based on process models. To this end, we propose different play-out strategies that reconstruct the control-flow from process trees, potentially exploiting frequency annotations. To assess the potential success of such reconstruction attacks on process models, and hence the risks imposed by publishing them, we compare the reconstructed process executions with those of the original log for several real-world datasets.

Emanuele Luzio, Moacir Antonelli Ponti, Christian Ramirez Arevalo et al.

Machine learning models typically focus on specific targets like creating classifiers, often based on known population feature distributions in a business context. However, models calculating individual features adapt over time to improve precision, introducing the concept of decoupling: shifting from point evaluation to data distribution. We use calibration strategies as strategy for decoupling machine learning (ML) classifiers from score-based actions within business logic frameworks. To evaluate these strategies, we perform a comparative analysis using a real-world business scenario and multiple ML models. Our findings highlight the trade-offs and performance implications of the approach, offering valuable insights for practitioners seeking to optimize their decoupling efforts. In particular, the Isotonic and Beta calibration methods stand out for scenarios in which there is shift between training and testing data.

Dennis O'Higgins

Despite the critical importance of Digital Transformation, up to 95% of initiatives fail to deliver expected business benefits. This paper explores the role of Business Architecture practices in enhancing digital transformation success. Using an adapted Balanced Scorecard approach and a Structural Equation Model (SEM), we analysed survey responses from 129 industry practitioners using a Partial Least Squares (PLS) approach. Our findings indicate that effective business architecture practices significantly improve business alignment, efficiency, service delivery, and strategic outcomes, leading to successful digital transformation. The study also validates factors proposed by AL-Malaise AL-Ghamdi (2017) in the context of digital transformation. The paper presents an adapted conceptual model addressing discriminant validity issues in previous models and benefiting from the robustness of the Balanced Scorecard approach. The study concludes by highlighting the essential role of business architecture in driving digital transformation success.

Javane Rostampoor, Roghayeh Joda, Mohammad Dindoost

In order to address the need for more capacity and coverage in the 5th generation (5G) of wireless networks, ultra-dense wireless networks are introduced which mainly consist of indoor small cells. This new architecture has paved the way for the advent of a new concept called Micro Operator. A micro operator is an entity that provides connections and local 5G services to the customers and relies on local frequency resources. We discuss business models of micro operators in a 5G coopetitive environment and develop a framework to indicate the business model canvas (BMC) of this new concept. Providing BMC for new businesses is a strategic approach to offer value to customers. In this research study, BMC and its elements are introduced and explained for 5G micro operators.

Andrea Russo

Having a good reputation is paramount for most organisations and companies. In fact, having an optimal corporate image allows them to have better transaction relationships with various customers and partners. However, such reputation is hard to build and easy to destroy for all kind of business commercial activities (B2C, B2B, B2B2C, B2G). A misunderstanding during the communication process to the customers, or just a bad communication strategy, can lead to a disaster for the entire company. This is emphasised by the reaction of millions of people on social networks, which can be very detrimental for the corporate image if they react negatively to a certain event. This is called a firestorm. In this paper, I propose a well-organised strategy for firestorm attacks on organisations, also showing how an adversary can leverage them to obtain private information on the attacked firm. Standard business security procedures are not designed to operate against multi-domain attacks; therefore, I will show how it is possible to bypass the classic and advised security procedures by operating different kinds of attack. I also propose a different firestorm attack, targeting a specific business company network in an efficient way. Finally, I present defensive procedures to reduce the negative effect of firestorms on a company.

Maria Pizzorni, Ombretta Caldarice, Nicola Tollin

By 2050, people in urbanized areas will account for 68% of the world’s population, 80% of which will be concentrated in Asia and Africa. The United Nations Framework Convention on Climate Change (UNFCCC) introduced in 2011 the National Adaptation Plan (NAP) under the Cancun Adaptation Framework (CAF). Countries of the non-Annex I, described by the UN-General Assembly as especially vulnerable to the impacts of climate change, are invited to develop NAPs to identify adaptation challenges and devise appropriate climate adaptation responses. Recognizing the increasing vulnerability of urban systems to the effects of climate change, in 2019, UN-Habitat defined the supplement of the NAP process’s technical guidelines for addressing urban and human settlement issues in NAPs. This paper aims to propose a methodology to assess the urban content of the NAPs after ten years from that the CAF comes into force. The evaluation is based, adapting and expanding, on the methodology used to assess the urban content of Nationally Determined Contributions (NDC) published by UN-Habitat in 2017. The methodology aims to analyse both key adaptation challenges and responses explicitly or implicitly related to urban systems. Moreover, it aims at understanding the interlinkage of urban content in NAP in relation to other key policies, such as NDCs and National Urban Policies (NUPs). In this perspective, 172 indicators were selected and clustered into nine groups: (i) Geographic Indicators; (ii) General Indicators; (iii) NAPs General Indicators; (iv) NAPs Urban Indicators; (v) NDCs Indicators; (vi) NUPs Indicators; (vii) Urban content in National Policies Indicators; (viii) International policy linkages (including SDGs, Sendai Framework for Disaster Risk Reduction, Paris Agreement and New Urban agenda); (ix) National plans/policy/strategies/reports linkages. The methodology was tested on Brazil’s NAP, trying to find general considerations to apply to the countries that officially submitted their NAPs between 2014 to 2020. The test showed that: there is a stronger focus on defining climate adaptation challenges more than responses; climate adaptation challenges and responses are predominantly identified at the national scale, with a focus on policies and strategies at the national level; among the Brazilian NAP, there is “cities strategy”, and it means that the NAP has a high urban content. In conclusion, the paper will highlight critical issues and improvements for each of the nine indices analysed.

Francesca Torrieri, Federica Cadamuro Morgante, Alessandra Oppio

About the Flood Risk Management Plans (PGRA) the European Community (DIR. 2007/60; Regulation No. 1303/2013) introduces the need to provide an assessment of the prevention and mitigation measures for the hydraulic risk through a Cost-Benefit Analysis (CBA), (Cohesion Fund, 2014-2020). Indeed, the CBA helps identifying a priority ranking of structural and non-structural interventions to be implemented so to reduce the probability of flooding and the negative consequences for human health, the environment, cultural heritage and economic activities. In Cost-Benefit Analysis (CBA) application, the Social Discount Rate (SDR) covers a fundamental role in revealing the intergenerational concern and the willingness to pay for environmental protection and debt inheritance of a society into a specific territorial-time dimension. In particular, scientific research on the hydraulic risk area like the national and international guidelines demonstrates no agreement about the methodologies for estimating the SSS and the (SSS) value adopted in different territorial contexts. For this reason, this paper aims at investigating literature debates about SDR effectiveness on a value-based assessment and how it is applied in CBA analysis dealing with intergenerational environmental costs redistribution and human heath protections. The theoretical explanation is supported by applying CBA analysis to the real case study of Olbia city, where relevant flood events occurred in the last fifty years and, in particular, the last one in 2013, causing significant losses in economic welfare and human lives. First results from the empirical application show how the choice of the SSS and the time-frame of the interventions have a strong impact on the effectiveness of the strategic decisions from a social point of view. In particular, these two factors’ influence is more evident in long-term scenarios due to intertemporal prices’ cumulative and multiplicative effects, which reduce future values such as environmental and social benefits if discounted to date.

Shubham Thakar, Dhananjay Kalbande

Business intelligence (BI) is any knowledge derived from existing data that may be strategically applied within a business. Data mining is a technique or method for extracting BI from data using statistical data modeling. Finding relationships or correlations between the various data items that have been collected can be used to boost business performance or at the very least better comprehend what is going on. Root cause analysis (RCA) is discovering the root causes of problems or events to identify appropriate solutions. RCA can show why an event occurred and this can help in avoiding occurrences of an issue in the future. This paper proposes a new clustering + association rule mining pipeline for getting business insights from data. The results of this pipeline are in the form of association rules having consequents, antecedents, and various metrics to evaluate these rules. The results of this pipeline can help in anchoring important business decisions and can also be used by data scientists for updating existing models or while developing new ones. The occurrence of any event is explained by its antecedents in the generated rules. Hence this output can also help in data-driven root cause analysis.

Razali Muhammad Najib, Jalil Rohaya Abdul, Shayuti Ahmad Faisal

This paper assesses the impact of outbreaks from the perspective of volatility of Malaysian Listed Property Companies in mixed-asset portfolios, concentrating on periods of time between outbreaks. The real issue of this study is the health crisis that has troubled institutional investors, as it has already significantly impacted the returns on investments. Investors need to be better informed on the impact of health outbreaks on investments in order to minimize their impact. To assess the impact of the outbreaks, the GARCH method has been employed to examine the dynamic volatility of listed property companies in mixed-asset portfolios. The volatility level will give investors better information from point of view of the dynamics of volatility of the Malaysian listed property companies’ performance within mixed-asset portfolios. The findings show that listed property companies demonstrate high volatility compared to other mixed-asset portfolios during the periods of outbreaks. This indicates Malaysian listed property companies were the most volatile investment in mixed-asset portfolios. This empirical study will contribute significantly to institutional investors, especially in terms of the investment decision-making process during outbreaks.