WorldWideScience

Sample records for existing building stock

  1. Sustainability in the existing building stock

    DEFF Research Database (Denmark)

    Elle, Morten; Nielsen, Susanne Balslev; Hoffmann, Birgitte

    2005-01-01

    sustainable building. In other words: the question is if it sensible to talk about a ‘sustainable building’ without taking the activities in the building into account? In many contexts, maintenance of the existing building stock is not a hot political topic. Facilities management can, however, be a vehicle......This paper explores the role of Facilities Management in the relation to sustainable development in the existing building stock. Facilities management is a concept still developing as the management of buildings are becoming more and more professional. Many recognize today that facilities......, QRWfacilities management’s most important contribution to sustainable development in the built environment. Space management is an essential tool in facilities management – and it could be considered a powerful tool in sustainable development; remembering that the building not being built is perhaps the most...

  2. Energy Efficiency in the North American Existing Building Stock

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    This report presents the findings of a new assessment of the techno-economic and policy-related efficiency improvement potential in the North American building stock conducted as part of a wider appraisal of existing buildings in member states of the International Energy Agency. It summarizes results and provides insights into the lessons learned through a broader global review of best practice to improve the energy efficiency of existing buildings. At this time, the report is limited to the USA because of the large size of its buildings market. At a later date, a more complete review may include some details about policies and programs in Canada. If resources are available an additional comprehensive review of Canada and Mexico may be performed in the future.

  3. Danish building typologies and building stock analyses

    DEFF Research Database (Denmark)

    Wittchen, Kim Bjarne; Kragh, Jesper

    enough to meet the government’s plan to make Danish buildings free from use of fossil fuels by 2035. This will probably require around 50 % energy savings in the Danish building stock as a whole. However, the project has proven that dedicated engagement of locals can speed up market penetration...... energy savings in residential buildings. The intension with this analysis was to investigate the possible energy reduction in Denmark if the same approach had been taken for the entire Danish building stock. The report concludes that the ZeroHome initiative clearly results in energy savings, but far from...... for energy savings in the existing Building stock....

  4. Existing buildings

    DEFF Research Database (Denmark)

    Gram-Hanssen, Kirsten

    2014-01-01

    their homes. These policy measures include building regulations, energy tax and different types of incentives and information dissemination. The conclusion calls for new and innovative policy measures to cope with the realities of renovations of owner-occupied houses and how energy efficiency improvement...

  5. Use of building typologies for energy performance assessment of national building stocks. Existent experiences in European Countries and common approach. First TABULA synthesis report

    Energy Technology Data Exchange (ETDEWEB)

    Loga, Tobias; Diefenbach, Nikolaus (eds.)

    2010-06-15

    The present study examines the experiences with building typologies in the European countries. The objective is to learn how to structure the variety of energy-related features of existing build-ings. As a result of the enquiry it can be stated that there are a lot of different activities which are based on typological criteria. Some of them are concentrating on providing information material and conducting energy advice. On the other hand, building types are used for a better understand-ing of the energy performance of building portfolios on different levels: from the strategic planning of housing companies up to the evaluation of national policies and measures in the building sector. On the basis of these experiences a common approach for building typologies has been devel-oped. The core elements of this harmonised approach are a classification systematic, a structure for building and supply system data and a coherent energy balance method. Furthermore a uni-form classification of statistical data enables a concerted approach for designing national building stock models. Finally, a concise itinerary is described which allows experts to develop step by step a national or regional building typology which are compatible with the common TABULA approach. (orig.)

  6. Transforming the existing building stock to high performed energy efficient and experienced architecture

    DEFF Research Database (Denmark)

    Vestergaard, Inge

    The project Sustainable Renovation examines the challenge of the current and future architectural renovation of Danish suburbs which were designed in the period from 1945 to 1973. The research project takes its starting point in the perspectives of energy optimization and the fact that the building...... architectural heritage to energy efficiency and from architectural quality to sustainability. The first, second and third renovations are discussed from financial and sustainable view points. The role of housing related to the public energy supply system and the relation between the levels of renovation...... process over the period changed from craftsmanship to industrialized production of housing. The aim is to present the context in which energy transformation has to be seen as an architectural question. The research field focuses on social housing blocks and expands the discussion of architecture from...

  7. Requirements for existing buildings

    DEFF Research Database (Denmark)

    Thomsen, Kirsten Engelund; Wittchen, Kim Bjarne

    This report collects energy performance requirements for existing buildings in European member states by June 2012.......This report collects energy performance requirements for existing buildings in European member states by June 2012....

  8. Innovative methods for a sustainable retrofit of the existing building stock. A cross-path from social housing to the listed heritage

    Directory of Open Access Journals (Sweden)

    Pietromaria Davoli

    2014-10-01

    Full Text Available Three correlated researches try to give operative answers to the problem of defining procedures and tools for a correct survey and retrofit actions for the existing building stock. Starting from a first research on social housing energy retrofit, a fast audit protocol and different intervention scenarios have been defined, with the ultimate purpose of supporting the energy transformation of older urban aggregates; this cluster includes single buildings with high historical values, which necessarily need a deeper diagnosis with a future perspective of a wider promotion and evaluation of environmental sustainability issues.

  9. Energy savings in Danish residential building stock

    DEFF Research Database (Denmark)

    Tommerup, Henrik M.; Svendsen, Svend

    2006-01-01

    A large potential for energy savings exists in the Danish residential building stock due to the fact that 75% of the buildings were constructed before 1979 when the first important demands for energy performance of building were introduced. It is also a fact that many buildings in Denmark face...... comprehensive renovations in the coming years and in connection with this renovation process energy saving measures can be implemented relatively inexpensive and cost effective. This opportunity should be used to insure the buildings in the future as far as energy consumption is concerned. This paper gives...... buildings representing the residential building stock and based on these calculations an assessment of the energy-saving potential is performed. A profitable savings potential of energy used for space heating of about 80% is identified over 45 years (until 2050) within the residential building stock...

  10. Application of Energy Performance Indicators for Residential Building Stocks

    DEFF Research Database (Denmark)

    Wittchen, Kim Bjarne; Kragh, Jesper; Diefenbach, Nikolaus

    2016-01-01

    Energy performance indicators of residential building stocks can either describe existing empirical data of a building stock or the input and outcome of building stock modelling. In EPISCOPE both types of quantities are clearly separated by distinguishing monitoring indicators and scenario...... indicators....

  11. Policy on Existing Stocks of Pesticide Products

    Science.gov (United States)

    This statement establishes general principles the Agency generally will apply in determining whether and under what conditions to allow the sale and use of existing stocks of pesticides for which the registration has been amended, canceled, or suspended.

  12. The application, benefits and challenges of retrofitting the existing buildings

    Science.gov (United States)

    Khairi, Muhammad; Jaapar, Aini; Yahya, Zaharah

    2017-11-01

    Sustainable development has been the main topic of debate for years in some countries such as United Kingdom, United State of America and Malaysia. Depletion of natural resources, global warming, economics uncertainty and health issues are some of the reasons behind sustainable development movements, it is not just a political debate in the parliament but more towards collective works among sectors in order to minimizing the negative impact of development to the environment and other living organism. Retrofit an existing building is one of the solutions to reduce the dependency on constructing new buildings. There are huge numbers of existing building stocks that suitable to be retrofitted such as historical buildings, offices, residential, warehouse, factories, vacant buildings and other historical buildings. Therefore, the aim of this research is to provide information on the application, benefits and challenges of retrofitting an existing building. Two buildings were chosen as case studies following by site visits and observation to the buildings. The data were then compared in a table form. Primary and secondary sources were also used for this research. The application of retrofit should be promoted across the construction and conservation industries since it has significant tangible and intangible benefits. It is one of the most environmentally friendly and efficient solutions to optimize the energy performance and could also helps to extend the life of the existing building or historical buildings while ensuring optimum thermal comfort for the occupants which leads to higher productivity.

  13. A strategic approach for existing buildings to withstand climate change

    DEFF Research Database (Denmark)

    Rasmussen, Torben Valdbjørn

    2012-01-01

    Buildings play a vital economic and social role in society and are vulnerable to climate change. This paper suggests a strategic approach for existing buildings to withstand climate change. It emphasises the most likely climate impacts, including the change in mean year values as well as the extent...... of maximum and minimum extremes, which are pointed out and set against a background of national and international agreements. Assumptions that form the basis for the scenarios are outlined and evaluated in a Danish context and similar evaluations can be drawn for other countries. As climate change progresses...... change for buildings is given. The actions include four stages: a survey of the performance, the impact of climate change, the vulnerability of the existing building stock and climate adaptation needs. This leads to the identification of a risk-based strategic framework for adaptation to climate change...

  14. A COMPARATIVE ANALYSIS OF THE BUILDING STOCK IN EU AND ROMANIA

    Directory of Open Access Journals (Sweden)

    Claudiu Romila

    2013-03-01

    Full Text Available Buildings occupy an important role in our modern society. However, the existing buildings have a very low thermal protection, leading to high levels of energy consumption making the buildings sector among the most significant CO2 source in Europe. Even if new buildings have high performance levels, the majority of the building stock is represented by older buildings which require renovation work. The European Union has imposed important reduction of specific energy consumption in all sectors, but energy conservation in buildings remains a key element in obtaining the sustainable development as evidence of human solidarity beyond the limits of space and time. In this paper the importance of the energy reductions in the building sector is outlined and both the energy policy and building stock statistics in EU and Romania are presented. Moreover, some measures and initiatives at European level are discussed, focusing on some important themes: demography, housing stock age and energy requirements.

  15. 78 FR 18590 - Organic Arsenicals; Amendments to Terminate Uses; Amendment to Existing Stocks Provisions

    Science.gov (United States)

    2013-03-27

    ... AGENCY Organic Arsenicals; Amendments to Terminate Uses; Amendment to Existing Stocks Provisions AGENCY... identified in the 2009 document were improperly finalized, and the existing stocks provisions for all... noted in Unit II. of this document. In addition, this document clarifies that existing stocks of...

  16. Natural Hazards Evaluation of Existing Buildings. Building Science Series 61.

    Science.gov (United States)

    Culver, Charles G.; And Others

    A methodology is presented for survey and evaluation of existing buildings to determine the risk to life safety under natural hazard conditions and estimate the amount of expected damage. Damage to both structural and nonstructural building components resulting from the extreme natural environments encountered in earthquakes, hurricanes, and…

  17. Modelling energy demand in the Norwegian building stock

    Energy Technology Data Exchange (ETDEWEB)

    Sartori, Igor

    2008-07-15

    Energy demand in the building stock in Norway represents about 40% of the final energy consumption, of which 22% goes to the residential sector and 18% to the service sector. In Norway there is a strong dependency on electricity for heating purposes, with electricity covering about 80% of the energy demand in buildings. The building sector can play an important role in the achievement of a more sustainable energy system. The work performed in the articles presented in this thesis investigates various aspects related to the energy demand in the building sector, both in singular cases and in the stock as a whole. The work performed in the first part of this thesis on development and survey of case studies provided background knowledge that was then used in the second part, on modelling the entire stock. In the first part, a literature survey of case studies showed that, in a life cycle perspective, the energy used in the operating phase of buildings is the single most important factor. Design of low-energy buildings is then beneficial and should be pursued, even though it implies a somewhat higher embodied energy. A case study was performed on a school building. First, a methodology using a Monte Carlo method in the calibration process was explored. Then, the calibrated model of the school was used to investigate measures for the achievement of high energy efficiency standard through renovation work. In the second part, a model was developed to study the energy demand in a scenario analysis. The results showed the robustness of policies that included conservation measures against the conflicting effects of the other policies. Adopting conservation measures on a large scale showed the potential to reduce both electricity and total energy demand from present day levels while the building stock keeps growing. The results also highlighted the inertia to change of the building stock, due to low activity levels compared to the stock size. It also became clear that a deeper

  18. Confidence building in emerging stock markets

    NARCIS (Netherlands)

    Perotti, E.C.; Laeven, L.; van Oijen, P.

    2000-01-01

    Investor confidence in reliable property rights and stable, market-oriented policies are a necessary condition for financial integration and the development of emerging stock markets. Announced market-oriented policies may be reversed, however, and are initially not fully credible. We argue that

  19. Confidence building in emerging stock markets

    NARCIS (Netherlands)

    Laeven, L.; Perotti, E.C.

    2001-01-01

    Investor confidence in reliable property rights and stable, market-oriented policies are a necessary condition for financial integration and the development of emerging stock markets. Announced market-oriented policies may be reversed, however, and are initially not fully credible. We argue that

  20. Energy consumptions in existing buildings; Les consommations d'energie des batiments existants

    Energy Technology Data Exchange (ETDEWEB)

    Nuss, St. [Ecole Nationale Superieure des Arts et Industries de Strasbourg, 78 - Saint-Remy-Les-Chevreuse (France)]|[Costic, 78 - Sainte Remy les Chevreuses (France)

    2002-05-01

    This document presents a sectoral analysis of the energy consumptions in existing French buildings: 1) - residential sector: social buildings, private dwellings; 2) - tertiary sector: office buildings, hotels, commercial buildings, school buildings, hospitals; 3) - industry; 4) - general status. (J.S.)

  1. Renewable Energy Applications for Existing Buildings: Preprint

    Energy Technology Data Exchange (ETDEWEB)

    Hayter, S. J.; Kandt, A.

    2011-08-01

    This paper introduces technical opportunities, means, and methods for incorporating renewable energy (RE) technologies into building designs and operations. It provides an overview of RE resources and available technologies used successfully to offset building electrical and thermal energy loads. Methods for applying these technologies in buildings and the role of building energy efficiency in successful RE projects are addressed along with tips for implementing successful RE projects.

  2. Towards a Very Low Energy Building Stock: Modeling the U.S. Commercial Building Sector to Support Policy and Innovation Planning

    Energy Technology Data Exchange (ETDEWEB)

    Coffey, Brian; Borgeson, Sam; Selkowitz, Stephen; Apte, Josh; Mathew, Paul; Haves, Philip

    2009-07-01

    This paper describes the origin, structure and continuing development of a model of time varying energy consumption in the US commercial building stock. The model is based on a flexible structure that disaggregates the stock into various categories (e.g. by building type, climate, vintage and life-cycle stage) and assigns attributes to each of these (e.g. floor area and energy use intensity by fuel type and end use), based on historical data and user-defined scenarios for future projections. In addition to supporting the interactive exploration of building stock dynamics, the model has been used to study the likely outcomes of specific policy and innovation scenarios targeting very low future energy consumption in the building stock. Model use has highlighted the scale of the challenge of meeting targets stated by various government and professional bodies, and the importance of considering both new construction and existing buildings.

  3. U.S. Department of Energy Commercial Reference Building Models of the National Building Stock

    Energy Technology Data Exchange (ETDEWEB)

    Deru, M.; Field, K.; Studer, D.; Benne, K.; Griffith, B.; Torcellini, P.; Liu, B.; Halverson, M.; Winiarski, D.; Rosenberg, M.; Yazdanian, M.; Huang, J.; Crawley, D.

    2011-02-01

    The U.S. Department of Energy (DOE) Building Technologies Program has set the aggressive goal of producing marketable net-zero energy buildings by 2025. This goal will require collaboration between the DOE laboratories and the building industry. We developed standard or reference energy models for the most common commercial buildings to serve as starting points for energy efficiency research. These models represent fairly realistic buildings and typical construction practices. Fifteen commercial building types and one multifamily residential building were determined by consensus between DOE, the National Renewable Energy Laboratory, Pacific Northwest National Laboratory, and Lawrence Berkeley National Laboratory, and represent approximately two-thirds of the commercial building stock.

  4. Renovation of existing buildings to residential lofts

    Energy Technology Data Exchange (ETDEWEB)

    Kaskel, B.S.; Gerns, E.A.; DeMuth, K.

    1999-07-01

    Major cities throughout North America are recently undergoing a residential revitalization of buildings in their urban centers. Many of these buildings are used as masonry loft structures, converted from buildings originally built for industrial or commercial occupancy. The renovations of these buildings typically address structural concerns, such as corrosion of embedded metals, and serviceability concerns, such as water-tightness. Masonry repairs can range from being relatively minor to relatively major, often depending on the condition of the building. Frequently, disputes arise between those who directed the renovation project and those who ultimately reside in these buildings. There ar few guidelines in the current literature that identify the degree of masonry repairs that should be anticipated by all parties. Such guidelines would help resolve conflict in this type of work. This paper will present some of the authors' observations in this area and identify common concerns raised by these projects.

  5. Maintenance and Expansion: Modeling Material Stocks and Flows for Residential Buildings and Transportation Networks in the EU25.

    Science.gov (United States)

    Wiedenhofer, Dominik; Steinberger, Julia K; Eisenmenger, Nina; Haas, Willi

    2015-08-01

    Material stocks are an important part of the social metabolism. Owing to long service lifetimes of stocks, they not only shape resource flows during construction, but also during use, maintenance, and at the end of their useful lifetime. This makes them an important topic for sustainable development. In this work, a model of stocks and flows for nonmetallic minerals in residential buildings, roads, and railways in the EU25, from 2004 to 2009 is presented. The changing material composition of the stock is modeled using a typology of 72 residential buildings, four road and two railway types, throughout the EU25. This allows for estimating the amounts of materials in in-use stocks of residential buildings and transportation networks, as well as input and output flows. We compare the magnitude of material demands for expansion versus those for maintenance of existing stock. Then, recycling potentials are quantitatively explored by comparing the magnitude of estimated input, waste, and recycling flows from 2004 to 2009 and in a business-as-usual scenario for 2020. Thereby, we assess the potential impacts of the European Waste Framework Directive, which strives for a significant increase in recycling. We find that in the EU25, consisting of highly industrialized countries, a large share of material inputs are directed at maintaining existing stocks. Proper management of existing transportation networks and residential buildings is therefore crucial for the future size of flows of nonmetallic minerals.

  6. LANL seismic screening method for existing buildings

    Energy Technology Data Exchange (ETDEWEB)

    Dickson, S.L.; Feller, K.C.; Fritz de la Orta, G.O. [and others

    1997-01-01

    The purpose of the Los Alamos National Laboratory (LANL) Seismic Screening Method is to provide a comprehensive, rational, and inexpensive method for evaluating the relative seismic integrity of a large building inventory using substantial life-safety as the minimum goal. The substantial life-safety goal is deemed to be satisfied if the extent of structural damage or nonstructural component damage does not pose a significant risk to human life. The screening is limited to Performance Category (PC) -0, -1, and -2 buildings and structures. Because of their higher performance objectives, PC-3 and PC-4 buildings automatically fail the LANL Seismic Screening Method and will be subject to a more detailed seismic analysis. The Laboratory has also designated that PC-0, PC-1, and PC-2 unreinforced masonry bearing wall and masonry infill shear wall buildings fail the LANL Seismic Screening Method because of their historically poor seismic performance or complex behavior. These building types are also recommended for a more detailed seismic analysis. The results of the LANL Seismic Screening Method are expressed in terms of separate scores for potential configuration or physical hazards (Phase One) and calculated capacity/demand ratios (Phase Two). This two-phase method allows the user to quickly identify buildings that have adequate seismic characteristics and structural capacity and screen them out from further evaluation. The resulting scores also provide a ranking of those buildings found to be inadequate. Thus, buildings not passing the screening can be rationally prioritized for further evaluation. For the purpose of complying with Executive Order 12941, the buildings failing the LANL Seismic Screening Method are deemed to have seismic deficiencies, and cost estimates for mitigation must be prepared. Mitigation techniques and cost-estimate guidelines are not included in the LANL Seismic Screening Method.

  7. A Practical Guide for Commissioning Existing Buildings

    Energy Technology Data Exchange (ETDEWEB)

    Haasl, T.; Sharp, T.

    1999-04-01

    Although this guide focuses on the retrocommissioning process and its advantages, all three types of commissioning--retrocommissioning, commissioning, and recommissioning--play an equally important role in ensuring that buildings perform efficiently and provide comfortable, safe, and productive work environments for owners and occupants. For new construction and retrofit projects, commissioning should be incorporated early, during design, and last throughout the length of the project. For buildings that were never commissioned, the retrocommissioning process can yield a wealth of cost-saving opportunities while enhancing a building's environment. Finally, once a building is commissioned or retrocommissioned, incorporating recommissioning into the organization's O and M program (by periodically reapplying the original diagnostic testing and checklist procedures) helps ensure that cost savings and other benefits gained from the original process persist over time.

  8. A Practical Guide for Commissioning Existing Buildings

    Energy Technology Data Exchange (ETDEWEB)

    Haasl, T.

    1999-05-11

    Although this guide focuses on the retrocommissioning process and its advantages, all three types of commissioning--retrocommissioning, commissioning, and recommissioning--play an equally important role in ensuring that buildings perform efficiently and provide comfortable, safe, and productive work environments for owners and occupants. For new construction and retrofit projects, commissioning should be incorporated early, during design, and last throughout the length of the project. For buildings that were never commissioned, the retrocommissioning process can yield a wealth of cost-saving opportunities while enhancing a building's environment. Finally, once a building is commissioned or retrocommissioned, incorporating recommissioning into the organization's O and M program (by periodically reapplying the original diagnostic testing and checklist procedures) helps ensure that cost savings and other benefits gained from the original process persist over time.

  9. A Bottom-Up Building Stock Model for Tracking Regional Energy Targets—A Case Study of Kočevje

    Directory of Open Access Journals (Sweden)

    Marjana Šijanec Zavrl

    2016-10-01

    Full Text Available The paper addresses the development of a bottom-up building stock energy model (BuilS for identification of the building stock renovation potential by considering energy performance of individual buildings through cross-linked data from various public available databases. The model enables integration of various EE and RES measures on the building stock to demonstrate long-term economic and environmental effects of different building stock refurbishment strategies. In the presented case study, the BuilS model was applied in the Kočevje city area and validated using the measured energy consumption of the buildings connected to the city district heating system. Three strategies for improving the building stock in Kočevje towards a more sustainable one are presented with their impact on energy use and CO2 emission projections up to 2030. It is demonstrated that the BuilS bottom-up model enables the setting of a correct baseline regarding energy use of the existing building stock and that such a model is a powerful tool for design and validation of the building stock renovation strategies. It is also shown that the accuracy of the model depends on available information on local resources and local needs, therefore acceleration of the building stock monitoring on the level of each building and continually upgrading of databases with building renovation information is of the utmost importance.

  10. The quest for sustainability in existing buildings

    DEFF Research Database (Denmark)

    Nielsen, Susanne Balslev; Michaelsen, Lisbet; Jensen, Per Anker

    2014-01-01

    to sustainability at societal level. Due to lack of professional skills, decisions about operation and renovation of buildings are made every day in Denmark and beyond, without adequate knowledge about e.g. energy management and the potential ways of integrating sustainability (social, environmental and economic...

  11. The reliability control of the existing buildings

    Directory of Open Access Journals (Sweden)

    Frolov Alexander

    2016-01-01

    Full Text Available Change control of enclosure structures state includes several tasks depending on a structural concept. To test the performance of thermal protective functions the distribution uniformity of the thermal field, possible losses or protection quality are controlled. Defects can emerge in bearing wall constructions, such as the material structure violation and it reduces the walls safety. Cracks, loose layer, loss of individual elements, the disclosure of stitches and so forth also lead to the change of the thermal field. Thermovision research based on the developed methodology helps to monitor emerging defects in the materials of buildings wall structure. Most of the detected thermal protection defects are not critical for the bearing capacity of building structures in general, but they are important for the microclimate of separate rooms.

  12. Modeling Aggregate Hourly Energy Consumption in a Regional Building Stock

    Directory of Open Access Journals (Sweden)

    Anna Kipping

    2017-12-01

    Full Text Available Sound estimates of future heat and electricity demand with high temporal and spatial resolution are needed for energy system planning, grid design, and evaluating demand-side management options and polices on regional and national levels. In this study, smart meter data on electricity consumption in buildings are combined with cross-sectional building information to model hourly electricity consumption within the household and service sectors on a regional basis in Norway. The same modeling approach is applied to model aggregate hourly district heat consumption in three different consumer groups located in Oslo. A comparison of modeled and metered hourly energy consumption shows that hourly variations and aggregate consumption per county and year are reproduced well by the models. However, for some smaller regions, modeled annual electricity consumption is over- or underestimated by more than 20%. Our results indicate that the presented method is useful for modeling the current and future hourly energy consumption of a regional building stock, but that larger and more detailed training datasets are required to improve the models, and more detailed building stock statistics on regional level are needed to generate useful estimates on aggregate regional energy consumption.

  13. Maximising the value of existing buildings.

    Science.gov (United States)

    McCorkindale, Graham

    2012-10-01

    Graham McCorkindale, who heads the Health and Wellbeing strand at multi-disciplinary architecture, town planning, interior design, and landscape architecture practice, Keppie Design, examines how architects can best support the NHS at a time of major change by refocusing design skills hitherto focused on creating new healthcare facilities on the need to work within the existing estate--'maximising utilisation and getting best value from any available spend'.

  14. Hawaii Clean Energy Initiative Existing Building Energy Efficiency Analysis: November 17, 2009 - June 30, 2010

    Energy Technology Data Exchange (ETDEWEB)

    Finch, P.; Potes, A.

    2010-06-01

    In June 2009, the State of Hawaii enacted an Energy Efficiency Portfolio Standard (EEPS) with a target of 4,300 gigawatt hours (GWh) by 2030 (Hawaii 2009). Upon setting this goal, the Hawaii Clean Energy Initiative, Booz Allen Hamilton (BAH), and the National Renewable Energy Laboratory (NREL), working with select local stakeholders, partnered to execute the first key step toward attaining the EEPS goal: the creation of a high-resolution roadmap outlining key areas of potential electricity savings. This roadmap was divided into two core elements: savings from new construction and savings from existing buildings. BAH focused primarily on the existing building analysis, while NREL focused on new construction forecasting. This report presents the results of the Booz Allen Hamilton study on the existing building stock of Hawaii, along with conclusions on the key drivers of potential energy efficiency savings and on the steps necessary to attain them.

  15. Sustainable Buildings for the High North. Existing buildings – technologies and challenges for residential and commercial use

    OpenAIRE

    Illikainen, Kimmo; Sirviö, Anu

    2015-01-01

    Depending on the intended use lifecycle of buildings may vary remarkably. Short term constructions such as summer cottages may last only a few decades whereas age of historical buildings may extend over hundreds of years. In Europe, three quarters of building stock is comprised of residential buildings. Approximately 40 % of the stock is built before 1960s, at the time when energy legislations were rather scarce. Consequently the age of buildings that have not undergone renovation i...

  16. Research update, existing buildings research, 1989--1991

    Energy Technology Data Exchange (ETDEWEB)

    MacDonald, J.M.; Ternes, M.P.; Mixon, W.R.; Sharp, T.R.; Kolb, J.O.; Wilkes, K.E. [Oak Ridge National Lab., TN (United States); Diamond, R.C. [Lawrence Berkeley Lab., CA (United States); Judkoff, R. [National Renewable Energy Lab., Golden, CO (United States); Mazzucchi, R.P. [Pacific Northwest Lab., Richland, WA (United States)

    1993-02-01

    This Research Update presents the status of the Existing Buildings Research program of the Office of Building Technologies of the US Department of Energy for the period 1989-199 1. This program covers research on energy efficiency improvements for the residential and commercial buildings in this country. ne Existing Buildings Research program has contributed to significant improvements in energy efficiency of existing buildings by development of improvements to retrofit technologies, by coordinating and conducting research studies on the use of energy efficiency technologies (to reduce barriers and increase use), and by continually evaluating changes in technologies that could improve and maintain buildings energy efficiency. If the energy efficiency of the buildings sector in this country is to be dramatically improved over the next 30 years, we must improve the use of energy efficiency technologies. Improved delivery of measures, improved understanding of how buildings actually perform in the field, and methods for improving operations and maintenance of buildings and energy equipment are all examples of ways to improve the deployment (transfer) of technologies. Much has been learned about technology deployment in buildings in the first five years of the program, and our future plans will be directed at continuing the improvements and making a real contribution to the energy efficiency future of the United States.

  17. A District Approach to Building Renovation for the Integral Energy Redevelopment of Existing Residential Areas

    Directory of Open Access Journals (Sweden)

    Mira Conci

    2017-05-01

    Full Text Available Building energy renovation quotas are not currently being met due to unfavorable conditions such as complex building regulations, limited investment incentives, historical preservation priorities, and technical limitations. The traditional strategy has been to incrementally lower the energy consumption of the building stock, instead of raising the efficiency of the energy supply through a broader use of renewable sources. This strategy requires an integral redefinition of the approach to energy building renovations. The joint project SWIVT elaborates on a district redevelopment strategy that combines a reduction in the energy demand of existing buildings and their physical interconnection within a local micro-grid and heating network. The district is equipped with energy generation and distribution technologies as well as hybrid thermal and electrical energy storage systems, steered by an optimizing energy management controller. This strategy is explored through three scenarios designed for an existing residential area in Darmstadt, Germany, and benchmarked against measured data. Presented findings show that a total primary energy balance at least 30% lower than that of a standard building renovation can be achieved by a cluster of buildings with different thermal qualities and connected energy generation, conversion, and storage systems, with only minimal physical intervention to existing buildings.

  18. Spatial–Temporal Analysis of the Heat and Electricity Demand of the Swiss Building Stock

    Directory of Open Access Journals (Sweden)

    Stefan Schneider

    2017-08-01

    Full Text Available In 2015, space heating and domestic hot water production accounted for around 40% of the Swiss final energy consumption. Reaching the goals of the 2050 energy strategy will require significantly reducing this share despite the growing building stock. Renewables are numerous but subject to spatial–temporal constraints. Territorial planning of energy distribution systems enabling the integration of renewables requires having a spatial–temporal characterization of the energy demand. This paper presents two bottom-up statistical extrapolation models for the estimation of the geo-dependent heat and electricity demand of the Swiss building stock. The heat demand is estimated by means of a statistical bottom-up model applied at the building level. At the municipality level, the electricity load curve is estimated by combining socio-economic indicators with average consumption per activity and/or electric device. This approach also allows to break down the estimated electricity demand according to activity type (e.g., households, various industry, and service activities and appliance type (e.g., lighting, motor force, fridges. The total estimated aggregated demand is 94 TWh for heat and 58 TWh for electricity, which represent a deviation of 2.9 and 0.5%, respectively compared to the national energy consumption statistics. In addition, comparisons between estimated and measured electric load curves are done to validate the proposed approach. Finally, these models are used to build a geo-referred database of heat and electricity demand for the entire Swiss territory. As an application of the heat demand model, a realistic saving potential is estimated for the existing building stock; this potential could be achieved through by a deep retrofit program. One advantage of the statistical bottom-up model approach is that it allows to simulate a building stock that replicates the diversity of building demand. This point is important in order to

  19. Optimizing Existing Multistory Building Designs towards Net-Zero Energy

    Directory of Open Access Journals (Sweden)

    Mohammad Y. AbuGrain

    2017-03-01

    Full Text Available Recent global developments in awareness and concerns about environmental problems have led to reconsidering built environment approaches and construction techniques. One of the alternatives is the principle of low/zero-energy buildings. This study investigates the potentials of energy savings in an existing multi-story building in the Mediterranean region in order to achieve net-zero energy as a solution to increasing fossil fuel prices. The Colored building at the Faculty of Architecture, Eastern Mediterranean University, Cyprus was chosen as a target of this study to be investigated and analyzed in order to know how energy efficiency strategies could be applied to the building to reduce annual energy consumption. Since this research objective is to develop a strategy to achieve net-zero energy in existing buildings, case study and problem solving methodologies were applied in this research in order to evaluate the building design in a qualitative manner through observations, in addition to a quantitative method through an energy modeling simulation to achieve desirable results which address the problems. After optimizing the building energy performance, an alternative energy simulation was made of the building in order to make an energy comparison analysis, which leads to reliable conclusions. These methodologies and the strategies used in this research can be applied to similar buildings in order to achieve net-zero energy goals.

  20. Building OOC layers on top of existing courses

    DEFF Research Database (Denmark)

    Bang, Jørgen; Dalsgaard, Christian; Kjær, Arne

    2016-01-01

    prefer the term "Open Online Courses", MOOCs (Massive Open Online Courses) without the M. This paper will present our approach to building OOCs on top of existing campusbased courses at Aarhus University, Denmark. Consequently, participants of an 'OOC track' will engage in collaboration and discussions...

  1. The building paradigm shift and its effect on Western European housing stocks

    NARCIS (Netherlands)

    Thomsen, A.

    2011-01-01

    The 20th century saw an enormous worldwide growth of the housing stock. In particular the building boom after WW-II, during which the housing stock in most countries was multifolded, focussed the attention of the housing sector primarily to the planning and realisation of new construction; the

  2. A Study To Determine The Quality Of Building Stock And Earthquake Risk In Kirsehir

    Directory of Open Access Journals (Sweden)

    Mehmet Mustafa nal

    2017-04-01

    Full Text Available Technological developments findings and associated improvement of structural codes together with the change in the earthquake potentials and deficiencies of the old buildings necessitate the evaluation of the present building stocks. Both the Earthquake Regulations and the Seismic Zoning Map in Turkey have been going through a fast change in the recent years. Furthermore the fact that the structural damage due to the recent earthquakes did not change according to the regions which is indicative of the building stock with low structural quality. Kirsehir is one of these regions with low quality buliding stock. Kirsehir is a developing region in relation to the increase in population and number of buildings in recent years. Accordingly the heights of the buildings also increase in relation to the improving economical conditions. In contrary to the older masonry buildings of 1950s the newer buildings are manufacturing using reinforced concrete. However the lack of control mechanisms designs according to lower eqarthquake risks without considering the the soil- structure relationship also make the more recent buildings prone to earthquake damage. In this study the building stock in Kirsehir and its close surroundings constructed before 1998 was considered and grouped in relation to their floor numbers construction methods and some other properties. The performance analyses of the considered buildings were performed by taking into account the local soil conditions and construction material. Then the earthquake risks of these buildings are calculated.

  3. 2020 Leadership Agenda for Existing Commercial and Multifamily Buildings

    Energy Technology Data Exchange (ETDEWEB)

    Burr, Andrew [Dept. of Energy (DOE), Washington DC (United States). Office of Energy Efficiency and Renewable Energy; Goldthwaite, Carolyn Sarno [Northeast Energy Efficiency Partnerships (NEEP), Boston, MA (United States). High Performance Buildings; Coffman, Eric [Montgomery County Dept. of General Services, Rockville, MD (United States). Office of Energy and Sustainability

    2016-01-21

    Leadership by state and local governments is critical to unlock national energy efficiency opportunities and deliver the benefits of efficiency to all Americans. But related to building energy efficiency, what will it mean to be a public sector leader over the next several years? What are the energy efficiency solutions that cities, counties, and states are implementing today that will make their communities more affordable, livable, healthy, and economically competitive? The SEE Action Network 2020 Leadership Agenda for Existing Commercial and Multifamily Buildings establishes a benchmark for state and local government leadership on improving the energy efficiency of buildings and seeks two-way collaboration among state, local, and federal officials. It defines a suite of innovative, yet practical policies and programs for policymakers to consider implementing by 2020, focusing on six important areas.

  4. Technical Building Systems (TBS) – differences between new and existing buildings

    DEFF Research Database (Denmark)

    Wittchen, Kim Bjarne; Griffiths, Will

    The Directive uses the term “technical building system” in the Recitals and Articles 1, 2, 8 and 11. It is Article 8 that calls for minimum standards for energy performance, installation, dimensioning, adjustment and control. These standards are obligatory in existing buildings, and they refer to...

  5. Redesign : Upgrading the building stock to meet (new) user demands

    NARCIS (Netherlands)

    Remoy, H.T.; Van der Voordt, D.J.M.

    2011-01-01

    Financial and real estate crises and “new ways of working” reduce the need for office space. As a consequence, office markets become replacement markets without a quantitative need for new office buildings: new buildings drive out bad buildings. In the Netherlands, currently 14% of the office space

  6. An Efficient Heuristic Approach for Irregular Cutting Stock Problem in Ship Building Industry

    OpenAIRE

    Yan-xin Xu

    2016-01-01

    This paper presents an efficient approach for solving a real two-dimensional irregular cutting stock problem in ship building industry. Cutting stock problem is a common cutting and packing problem that arises in a variety of industrial applications. A modification of selection heuristic Exact Fit is applied in our research. In the case referring to irregular shapes, a placement heuristics is more important to construct a complete solution. A placement heuristic relating to bottom-left-fill i...

  7. Building envelope for New Buildings and Energy Renovation of Existing Buildings. Project results

    DEFF Research Database (Denmark)

    Rudbeck, Claus Christian; Rose, Jørgen; Esbensen, Peter Kjær

    1999-01-01

    , a group of scientists at the Department of Buildings and Energy, Technical University of Denmark, have started a research project to develop better solutions for new building and energy renovation.The publication report the status after the first 3 year of the Building Envelope Project with emphasis...... on the following subjects:Scientific basis for calculation programs, Development of calculationsmethods for heat transfer, Development of new building envelope components, Roofing system based on wooden roof elements, Roofing system with drying properties, Moisture uptake and drying from brick constructions...

  8. Extrapolating existing soil organic carbon data to estimate soil organic carbon stocks below 20 cm

    Science.gov (United States)

    An-Min Wu; Cinzia Fissore; Charles H. Perry; An-Min Wu; Brent Dalzell; Barry T. Wilson

    2015-01-01

    Estimates of forest soil organic carbon stocks across the US are currently developed from expert opinion in STATSGO/SSURGO and linked to forest type. The results are reported to the US EPA as the official United States submission to the UN Framework Convention on Climate Change. Beginning in 2015, however, estimates of soil organic carbon (SOC) stocks will be based on...

  9. Waking a sleeping giant : Policy tools to improve the energy performance of the existing housing stock in the Netherlands

    NARCIS (Netherlands)

    Murphy, L.C.; Meijer, F.M.

    2011-01-01

    The Netherlands like many European countries has issued ambitious national targets to achieve climate change goals. It is recognised that to achieve these goals the energy saving potential idling in the existing housing stock must be exploited. To date the Dutch response is largely defined by the

  10. Refurbishment of Social housing: a survey of the building stock owned by ATC Torino

    Directory of Open Access Journals (Sweden)

    Andrea Levra Levron

    2016-11-01

    Full Text Available The Italian public housing building stock is considerable, although quantitatively less than that of other European countries,. The public policies adopted in the last decades have pushed the supply of housing by the private sector and supported the sale of the assets by the public housing authorities. Those buildings are often degraded and obsolete. Nevertheless, the issue of redevelopment of this part of the residential building stock is a central focus, also because of its important social role, especially in the current period of crisis. One of the recurring factors in the Italian case is the low quality of this building stock due to the lack of an organic maintenance activity. The paper reports the first results of a research carried out by the Department of Architecture and Design in cooperation with a social housing public authority, the Regional Agency for the Central Piedmont House (ATC. The goal of the research was the development of methodologies for estimating and analysis of maintenance requirements. Moreover, the study suggests and develops a forecasting tool for the planning of maintenance operations and redevelopment of the large building estates.

  11. Guiding Principles for Sustainable Existing Buildings: Radiochemical Processing Laboratory

    Energy Technology Data Exchange (ETDEWEB)

    Pope, Jason E. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States)

    2013-11-11

    In 2006, the United States (U.S.) Department of Energy (DOE) signed the Federal Leadership in High Performance and Sustainable Buildings Memorandum of Understanding (MOU), along with 21 other agencies. Pacific Northwest National Laboratory (PNNL) is exceeding this requirement and, currently, about 25 percent of its buildings are High Performance and Sustainable Buildings. The pages that follow document the Guiding Principles conformance effort for the Radiochemical Processing Laboratory (RPL) at PNNL. The RPL effort is part of continued progress toward a building inventory that is 100 percent compliant with the Guiding Principles.

  12. Healthy buildings have existed in China since ancient times

    Energy Technology Data Exchange (ETDEWEB)

    Chen, Qigao; Feng, Ya; Wang, Gonglu [Chongqing Jianzhu Univ., Chongqing, Sichuan (China)

    1997-09-01

    The historical experience in China of constructing healthy buildings over many centuries merits even more attention today. Using the quadrangle as a basic style, buildings have been constructed in this way from ancient China to the present time. It is a style found in all areas of the country. The buildings in which people lived in ancient China were designed according to the doctrine of wind and water (which in Chinese is called feng shui). Today we would describe this as a philosophy for designing the indoor environment for healthy living. The common properties of such buildings are that of having good indoor air quality and easy maintenance of the indoor climate. This paper describes the optimal performance of quadrangle buildings from the perspective of their environment, illumination by natural lighting, infrared absorption and radiation, noise and indoor air quality, insulation properties and gives a mathematical analysis of these features. While this building style is not unique to China it could be developed more in other countries. It is a healthy style of building which can serve mankind worldwide because of its natural energy saving and adopting more widely it would improve standards in building. (author) 9 figs., 2 tabs., 7 refs.

  13. An Efficient Heuristic Approach for Irregular Cutting Stock Problem in Ship Building Industry

    Directory of Open Access Journals (Sweden)

    Yan-xin Xu

    2016-01-01

    Full Text Available This paper presents an efficient approach for solving a real two-dimensional irregular cutting stock problem in ship building industry. Cutting stock problem is a common cutting and packing problem that arises in a variety of industrial applications. A modification of selection heuristic Exact Fit is applied in our research. In the case referring to irregular shapes, a placement heuristics is more important to construct a complete solution. A placement heuristic relating to bottom-left-fill is presented. We evaluate the proposed approach using generated instance only with convex shapes in literatures and some instances with nonconvex shapes based on real problem from ship building industry. The results demonstrate that the effectiveness and efficiency of the proposed approach are significantly better than some conventional heuristics.

  14. Upgrade energy building standards and develop rating system for existing low-income housing

    Energy Technology Data Exchange (ETDEWEB)

    Muller, D.; Norville, C. [Memphis and Shelby County Div. of Planning and Development, TN (United States)

    1993-07-01

    The city of Memphis Division of Housing and Community Development (HCD) receives grant funding each year from the U.S. Department of Housing and Urban Development (HUD) to provide local housing assistance to low-income residents. Through the years, HCD has found that many of the program recipients have had difficulty in managing their households, particularly in meeting monthly financial obligations. One of the major operating costs to low-income households is the utility bill. Furthermore, HCD`s experience has revealed that many low-income residents are simply unaware of ways to reduce their utility bill. Most of the HCD funds are distributed to low-income persons as grants or no/low interest loans for the construction or rehabilitation of single-family dwellings. With these funds, HCD builds 80 to 100 new houses and renovates about 500 homes each year. Houses constructed or renovated by HCD must meet HUD`s minimum energy efficiency standards. While these minimum standards are more than adequate to meet local building codes, they are not as aggressive as the energy efficiency standards being promoted by the national utility organizations and the home building industry. Memphis Light, Gas and Water (MLGW), a city-owned utility, has developed an award-winning program named Comfort Plus which promotes energy efficiency{open_quote} in new residential construction. Under Comfort Plus, MLGW models house plans on computer for a fee and recommends cost-effective alterations which improve the energy efficiency of the house. If the builder agrees to include these recommendations, MLGW will certify the house and guarantee a maximum annual heating/cooling bill for two years. While the Comfort Plus program has received recognition in the new construction market, it does not address the existing housing stock.

  15. Dynamic building stock modelling : Application to 11 European countries to support the energy efficiency and retrofit ambitions of the EU

    NARCIS (Netherlands)

    Holck Sandberg, N.; Sartori, I.; Heidrich, O.; Dawson, R.; Dascalaki, E.; Dimitriou, S.; Vimm-r, T.; Filippidou, F.; Stegnar, G.; Sijanec Zavrl, M.; Brattebø, H.

    2016-01-01

    A dynamic building stock model is applied to simulate the development of dwelling stocks in 11 European countries, over half of all European dwellings, between 1900 and 2050. The model uses time series of population and number of persons per dwelling, as well as demolition and renovation probability

  16. Post-insulation of Existing Buildings Constructed Between 1850 and 1920

    DEFF Research Database (Denmark)

    Rasmussen, Torben Valdbjørn

    2010-01-01

    ’s requirements. Therefore, there is an increased interest in improving the insulation standard of many existing and older buildings. However, special attention should be paid to prevent degradation of the existing construction when the energy demand for heating and thermal comfort of a building decreases...... building constructed as a typical building constructed in the period of 1850 to 1920. Like many of the existing buildings from that period, this building was recognized as a building with a unique architecture. It is a prerequisite for the improvement of the insulation standard that customized post......Tightened requirements for thermal insulation of new buildings and the demand for a reduction of energy consumption for heating and comfort in order to reduce carbon dioxide (CO2) emissions mean that existing and especially older buildings have a very low thermal standard compared with today...

  17. Seismic performance evaluation of existing RC buildings designed ...

    Indian Academy of Sciences (India)

    1. Introduction. For earthquake resistant design, evaluation of the seismic performance of buildings, it is ... LS. III. Note: DL: Dead Load; LL: Live Load; EQL: Earthquake Load; LS: Limit State; WS: Working Stress ..... axial load applied with respect to the ultimate one, (iii) ratio between the shear length to the sec- tion height ...

  18. Seismic performance evaluation of existing RC buildings designed ...

    Indian Academy of Sciences (India)

    In this paper, a typical 6-storey reinforced concrete (RC) building frame is designed for four design cases as per the provisions in three revisions of IS: 1893 and IS: 456 and it is analysed using user-defined (UD) nonlinear hinge properties or default-hinge (DF) properties, given in SAP 2000 based on the FEMA-356 and ...

  19. Building America Case Study: Trade-Friendly Retrofit Insulated Panels for Existing Buildings, Albany, New York

    Energy Technology Data Exchange (ETDEWEB)

    2016-03-01

    This project evaluated the effectiveness and affordability of integrating retrofit insulated panels into a re-siding project. The Partnership for Home Innovation (PHI) teamed with New York State Energy Research and Development Authority (NYSERDA), the Albany Housing Authority (AHA), and the New York State Weatherization Assistance Program (WAP) administered by Albany Community Action Partnership to demonstrate an energy retrofit and siding upgrade on a two-story, seven unit, multifamily building in Albany New York (CZ 5). The project focused on accomplishing three goals - doubling the existing wall thermal resistance (from approximately R-13 to a weighted average of R-27), reduction of building air leakage, and completion of the retrofit within a budget where the additional cost for upgrading wall's thermal resistance is equal to the cost of the standard re-siding effort (i.e., the total cost of the energy efficient re-siding scope of work is not more than double the cost of the standard re-siding effort). Lessons learned from the project strongly indicate that the retrofit panel technology can be installed using common installation practices and with minimal training. Other lessons learned include limitation on the use of standard air sealing materials during cold weather installations and the need to develop better installation guidance for trades working with the level of tolerances that may be present in the existing structure. This technology demonstration showed that exterior retrofit panels provide a viable and reasonable option for the siding trades to increase market opportunities and achieve synergistic benefits for aesthetic upgrades to a building's exterior.

  20. Model for Determining Geographical Distribution of Heat Saving Potentials in Danish Building Stock

    DEFF Research Database (Denmark)

    Petrovic, Stefan; Karlsson, Kenneth Bernard

    2014-01-01

    . A highly detailed model for determining heat demand, possible heat savings and associated costs in the Danish building stock is presented. Both scheduled and energy-saving renovations until year 2030 have been analyzed. The highly detailed GIS-based heat atlas for Denmark is used as a container for storing...... data about physical properties for 2.5 million buildings in Denmark. Consequently, the results of the analysis can be represented on a single building level. Under the assumption that buildings with the most profitable heat savings are renovated first, the consequences of heat savings for the economy...... and energy system have been quantified and geographically referenced. The possibilities for further improvements of the model and the application to other geographical regions have been discussed....

  1. 19 May 2011 Kütahya - Simav earthquake and evaluation of existing sample RC buildings according to the TEC-2007 criteria

    Science.gov (United States)

    Arslan, M. H.; Olgun, M.; Köroğlu, M. A.; Erkan, I. H.; Köken, A.; Tan, O.

    2013-02-01

    This study examines the damage caused to reinforced concrete structures by the 2011 earthquake that occurred in Simav, Turkey. The study briefly reports on post-earthquake field observations, tectonic characteristics of the earthquake area, geotechnical characteristics of the field, and seismic characteristics of the earthquake. The main part of the study comprises a field study, material experiments, and performance analyses of two reinforced concrete buildings that survived the earthquake with medium level damage. The building performance was calculated and assessed according to the Turkish Earthquake Code requirements for existing building stock, and recommendations were made based on the findings.

  2. 19 May 2011 Kütahya – Simav earthquake and evaluation of existing sample RC buildings according to the TEC-2007 criteria

    Directory of Open Access Journals (Sweden)

    M. H. Arslan

    2013-02-01

    Full Text Available This study examines the damage caused to reinforced concrete structures by the 2011 earthquake that occurred in Simav, Turkey. The study briefly reports on post-earthquake field observations, tectonic characteristics of the earthquake area, geotechnical characteristics of the field, and seismic characteristics of the earthquake. The main part of the study comprises a field study, material experiments, and performance analyses of two reinforced concrete buildings that survived the earthquake with medium level damage. The building performance was calculated and assessed according to the Turkish Earthquake Code requirements for existing building stock, and recommendations were made based on the findings.

  3. Technology Solutions for Existing Homes Case Study: Trade-Friendly Retrofit Insulated Panels for Existing Buildings

    Energy Technology Data Exchange (ETDEWEB)

    None

    2016-03-01

    For this project with the U.S. Department of Energy Building America team Home Innovation Research Labs, the retrofit insulated panels relied on an enhanced expanded polystyrene (EPS) for thermal resistance of R-4.5/inch, which is an improvement of 10% over conventional (white-colored) EPS. EPS, measured by its life cycle, is an alternative to commonly used extruded polystyrene and spray polyurethane foam. It is a closed-cell product made up of 90% air, and it requires about 85% fewer petroleum products for processing than other rigid foams.

  4. Multi-criteria decision model for retrofitting existing buildings

    Science.gov (United States)

    Bostenaru Dan, M. D.

    2004-08-01

    Decision is an element in the risk management process. In this paper the way how science can help in decision making and implementation for retrofitting buildings in earthquake prone urban areas is investigated. In such interventions actors from various spheres are involved. Their interests range among minimising the intervention for maximal preservation or increasing it for seismic safety. Research was conducted to see how to facilitate collaboration between these actors. A particular attention was given to the role of time in actors' preferences. For this reason, on decision level, both the processural and the personal dimension of risk management, the later seen as a task, were considered. A systematic approach was employed to determine the functional structure of a participative decision model. Three layers on which actors implied in this multi-criteria decision problem interact were identified: town, building and element. So-called 'retrofit elements' are characteristic bearers in the architectural survey, engineering simulations, costs estimation and define the realms perceived by the inhabitants. This way they represent an interaction basis for the interest groups considered in a deeper study. Such orientation means for actors' interaction were designed on other levels of intervention as well. Finally, an 'experiment' for the implementation of the decision model is presented: a strategic plan for an urban intervention towards reduction of earthquake hazard impact through retrofitting. A systematic approach proves thus to be a very good communication basis among the participants in the seismic risk management process. Nevertheless, it can only be applied in later phases (decision, implementation, control) only, since it serves verifying and improving solution and not developing the concept. The 'retrofit elements' are a typical example of the detailing degree reached in the retrofit design plans in these phases.

  5. Multi-criteria decision model for retrofitting existing buildings

    Directory of Open Access Journals (Sweden)

    M. D. Bostenaru Dan

    2004-01-01

    Full Text Available Decision is an element in the risk management process. In this paper the way how science can help in decision making and implementation for retrofitting buildings in earthquake prone urban areas is investigated. In such interventions actors from various spheres are involved. Their interests range among minimising the intervention for maximal preservation or increasing it for seismic safety. Research was conducted to see how to facilitate collaboration between these actors. A particular attention was given to the role of time in actors' preferences. For this reason, on decision level, both the processural and the personal dimension of risk management, the later seen as a task, were considered. A systematic approach was employed to determine the functional structure of a participative decision model. Three layers on which actors implied in this multi-criteria decision problem interact were identified: town, building and element. So-called 'retrofit elements' are characteristic bearers in the architectural survey, engineering simulations, costs estimation and define the realms perceived by the inhabitants. This way they represent an interaction basis for the interest groups considered in a deeper study. Such orientation means for actors' interaction were designed on other levels of intervention as well. Finally, an 'experiment' for the implementation of the decision model is presented: a strategic plan for an urban intervention towards reduction of earthquake hazard impact through retrofitting. A systematic approach proves thus to be a very good communication basis among the participants in the seismic risk management process. Nevertheless, it can only be applied in later phases (decision, implementation, control only, since it serves verifying and improving solution and not developing the concept. The 'retrofit elements' are a typical example of the detailing degree reached in the retrofit design plans in these phases.

  6. Measuring Outdoor Air Intake Rates into Existing Building

    Energy Technology Data Exchange (ETDEWEB)

    Fisk, William; Sullivan, Douglas; Cohen, Sebastian; Han, Hwataik

    2009-04-16

    Practical and accurate technologies are needed for continuously measuring and controlling outdoor air (OA) intake rates in commercial building heating, ventilating, and air conditioning (HVAC) systems. This project evaluated two new measurement approaches. Laboratory experiments determined that OA flow rates were measurable with errors generally less than 10 percent using electronic air velocity probes installed between OA intake louver blades or at the outlet face of louvers. High accuracy was maintained with OA flow rates as low as 15 percent of the maximum for the louvers. Thus, with this measurement approach HVAC systems do not need separate OA intakes for minimum OA supply. System calibration parameters are required for each unique combination of louver type and velocity sensor location but calibrations are not necessary for each system installation. The research also determined that the accuracy of measuring OA flow rates with velocity probes located in the duct downstream of the intake louver was not improved by installing honeycomb airflow straighteners upstream of the probes. Errors varied with type of upstream louver, were as high as 100 percent, and were often greater than 25 percent. In conclusion, use of electronic air velocity probes between the blades of OA intake louvers or at the outlet face of louvers is a highly promising means of accurately measuring rates of OA flow into HVAC systems. The use of electronic velocity probes downstream of airflow straighteners is less promising, at least with the relatively small OA HVAC inlet systems employed in this research.

  7. Method to investigate and plan the application of low temperature district heating to existing hydraulic radiator systems in existing buildings

    DEFF Research Database (Denmark)

    Tunzi, Michele; Østergaard, Dorte Skaarup; Svendsen, Svend

    2016-01-01

    This study presents a method to adapt existing hydronic systems in buildings to take advantage of low temperature district heating (LTDH). Plate radiators connected to double string heating circuits were considered in an optimization procedure, based on supply and return temperatures, to obtain t...

  8. Europlanet IDIS: Adapting existing VO building blocks to Planetary Sciences

    Science.gov (United States)

    Cecconi, Baptiste; Jacquey, Christian; Erard, Stéphane; Le Sidaner, Pierre; Andre, Nicolas; Bourrel, Nataliya; Berthier, Jerome; Gangloff, Michel

    2012-07-01

    IDIS (Integrated and Distributed Information System) is part of the Europlanet project. Its purpose is to develop a prototype of a planetology Virtual Observatory (VO). In the frame of its participation to this project, and in collaboration with VO-Paris (Virtual Observatory Paris Data Centre), the CDPP (Data Centre for Plasma Physics, based in Toulouse) has developed a data model to describe the wide variety of data products that can be found in the planetology community, which includes a wide variety of science thematics such as plasma physics, planetary surfaces, interiors, atmospheres or small bodies. This data model is making extensive use of existing standards provided by various groups (IVOA, IPDA, SPASE...) and its scope is to describe the scientific content of datasets, in order to be able to locate and retrieve data files corresponding to a given request. Two generic protocols has been identified for data exchange: PDAP (Planetary Data Access Protocol), developed by IPDA and Obs-TAP (Observation Table Access Protocol), developed by IVOA. In this latter case, Obs-TAP has been adapted to better fit to the planetology community; this protocol is called IDIS-TAP. The data model and the protocols are now tested in collaboration with VO-Paris and other Europlanet IDIS partners. The EuroPlaNet-RI project is funded by the European Commission under the 7th Framework Program, grant 228319 "Capacities Specific Programme".

  9. A Method to Estimate Energy Demand in Existing Buildings Based on the Danish Building and Dwellings Register (BBR)

    DEFF Research Database (Denmark)

    Nielsen, Anker; Bertelsen, Niels Haldor; Wittchen, Kim Bjarne

    2013-01-01

    The Energy Performance Directive requires energy certifications for buildings. This is implemented in Denmark so that houses that are sold must have an energy performance label based on an evaluation from a visit to the building. The result is that only a small part of the existing houses has an ...

  10. Evaluation of green building rating tools based on existing green building achievement in Indonesia using Life Cycle Assessment Method

    Science.gov (United States)

    Basten, Van; Latief, Yusuf; Berawi, Mohammed Ali; Budiman, Rachmat; Riswanto

    2017-03-01

    Total completed building construction value in Indonesia increased 116% during 2009 to 2011. That's followed by increasing 11% energy consumption in Indonesia in the last three years with 70% energy met to the electricity needs of commercial building. In addition, a few application of green building concept in Indonesia made the greenhouse gas emissions or CO2 amount increased by 25%. Construction, operation, and maintain of building cost consider relatively high. The evaluation in this research is used to improve the building performance with some of green concept alternatives. The research methodology is conducted by combination of qualitative and quantitative approaches through interview and case study. Assessing the successful of optimization functions in the existing green building is based on the operational and maintenance phase with the Life Cycle Assessment (LCA) Method. The result of optimization that is the largest efficiency and effective of building life cycle.

  11. Best Practices for HPSB Guiding Principles Implementation in Existing DOE Buildings

    Energy Technology Data Exchange (ETDEWEB)

    Henderson, Jordan W.

    2014-05-06

    The intent of this paper is to document an approach to screening existing buildings at DOE sites for High-Performance and Sustainable Buildings (HPSB) Guiding Principles (GPs) potential, developing policies and programs to address a majority of the HPSB GPs, and how to prioritize buildings with the greatest potential. This paper will also include example strategies for HPSB inventory and projection schedules and best practices on approaching and interpreting select criteria that have been troublesome to sites.

  12. Structural evaluation of existing plutonium buildings and auxiliary structures at Rocky Flats Plant

    Energy Technology Data Exchange (ETDEWEB)

    1980-02-01

    Existing plutonium handling and storage buildings at the DOE Rocky Flats Plant were evaluated for their structural resistance to seismic, tornado, and extreme wind loadings and the impact of tornado-driven missiles. This report presents the summary results of the study for all the buildings included in the study and makes preliminary general recommendations for upgrading where needed. Detailed analyses and backup calculations performed for the several buildings are presented in separate reports.

  13. Energy Efficiency Potential in Existing Commercial Buildings: Review of Selected Recent Studies

    Energy Technology Data Exchange (ETDEWEB)

    Belzer, David B.

    2009-04-03

    This report reviews six recent studies (from 2002 through 2006) by states and utilities to assess the energy saving potential in existing commercial buildings. The studies cover all or portions of California, Connecticut, Vermont, Colorado, Illinois, and the Pacific Northwest. The studies clearly reveal that lighting remains the single largest and most cost effective end use that can be reduced to save energy. Overall the study indicated that with existing technologies and costs, a reasonable range of economic savings potential in existing commercial buildings is between 10 and 20 percent of current energy use. While not a focus of the study, an additional conclusion is that implementation of commercial building monitoring and controls would also play an important role in the nation’s efforts to improve energy efficiency of existing buildings.

  14. Post-Insulation of Existing Buildings Constructed Between 1850 and 1920

    DEFF Research Database (Denmark)

    Rasmussen, Torben Valdbjørn

    2010-01-01

    Tightened requirements for thermal insulation of new buildings and the demand for a reduction of energy consumption for heating and comfort in order to reduce carbon dioxide (CO2) emissions mean that existing and especially older buildings have a very low thermal standard compared with today...

  15. A proposal for seismic evaluation index of mid-rise existing RC buildings in Afghanistan

    Science.gov (United States)

    Naqi, Ahmad; Saito, Taiki

    2017-10-01

    Mid-rise RC buildings gradually rise in Kabul and entire Afghanistan since 2001 due to rapid increase of population. To protect the safety of resident, Afghan Structure Code was issued in 2012. But the building constructed before 2012 failed to conform the code requirements. In Japan, new sets of rules and law for seismic design of buildings had been issued in 1981 and severe earthquake damage was disclosed for the buildings designed before 1981. Hence, the Standard for Seismic Evaluation of RC Building published in 1977 has been widely used in Japan to evaluate the seismic capacity of existing buildings designed before 1981. Currently similar problem existed in Afghanistan, therefore, this research examined the seismic capacity of six RC buildings which were built before 2012 in Kabul by applying the seismic screening procedure presented by Japanese standard. Among three screening procedures with different capability, the less detailed screening procedure, the first level of screening, is applied. The study founds an average seismic index (IS-average=0.21) of target buildings. Then, the results were compared with those of more accurate seismic evaluation procedures of Capacity Spectrum Method (CSM) and Time History Analysis (THA). The results for CSM and THA show poor seismic performance of target buildings not able to satisfy the safety design limit (1/100) of the maximum story drift. The target buildings are then improved by installing RC shear walls. The seismic indices of these retrofitted buildings were recalculated and the maximum story drifts were analyzed by CSM and THA. The seismic indices and CSM and THA results are compared and found that building with seismic index larger than (IS-average =0.4) are able to satisfy the safety design limit. Finally, to screen and minimize the earthquake damage over the existing buildings, the judgement seismic index (IS-Judgment=0.5) for the first level of screening is proposed.

  16. Indoor air quality in the Swedish housing stock and its dependence on building characteristics

    DEFF Research Database (Denmark)

    Langer, Sarka; Bekö, Gabriel

    2013-01-01

    Data from a recent Swedish survey on the status of the housing stock and indoor air quality were placed in the public domain by the Swedish National Board of Housing, Building and Planning in 2011. The available parameters included the year of construction, dwelling location, type of ventilation...... exchange rate was a significant predictor of the concentrations of all three indoor pollutants. While ventilation seemed to be a source of NO2, increased ventilation rate appeared to decrease the indoor concentrations of formaldehyde and TVOC. © 2013 Elsevier Ltd....... system, temperature, relative humidity, air exchange rate (AER), and concentrations of nitrogen dioxide (NO2), formaldehyde and Total Volatile Organic Compounds (TVOC) from 157 single-family houses and 148 apartments. The median AER was lower in the single-family houses than in apartments (0.33h-1 vs. 0...

  17. Federal Existing Buildings Handbook for Net Zero Energy, Water, and Waste

    Energy Technology Data Exchange (ETDEWEB)

    None

    2017-08-14

    In 2015, the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE) defined zero energy buildings as "an energy-efficient building where, on a source energy basis, the actual annual delivered energy is less than or equal to the on-site renewable exported energy." This handbook is focused on applying the EERE definition of zero energy buildings to existing buildings in the federal sector. However, it is not intended to replace, substitute, or modify any statutory or regulatory requirements and mandates.

  18. Issues to Be Solved for Energy Simulation of An Existing Office Building

    Directory of Open Access Journals (Sweden)

    Ki Uhn Ahn

    2016-04-01

    Full Text Available With the increasing focus on low energy buildings and the need to develop sustainable built environments, Building Energy Performance Simulation (BEPS tools have been widely used. However, many issues remain when applying BEPS tools to existing buildings. This paper presents the issues that need to be solved for the application of BEPS tools to an existing office building. The selected building is an office building with 33 stories above ground, six underground levels, and a total floor area of 91,898 m2. The issues to be discussed in this paper are as follows: (1 grey data not ready for simulation; (2 subjective assumptions and judgments on energy modeling; (3 stochastic characteristics of building performance and occupants behavior; (4 verification of model fidelity-comparison of aggregated energy; (5 verification of model fidelity-calibration by trial and error; and (6 use of simulation model for real-time energy management. This study investigates the aforementioned issues and explains the factors that should be considered to address these issues when developing a dynamic simulation model for existing buildings.

  19. Computer aided seismic and fire retrofitting analysis of existing high rise reinforced concrete buildings

    CERN Document Server

    Hussain, Raja Rizwan; Hasan, Saeed

    2016-01-01

    This book details the analysis and design of high rise buildings for gravity and seismic analysis. It provides the knowledge structural engineers need to retrofit existing structures in order to meet safety requirements and better prevent potential damage from such disasters as earthquakes and fires. Coverage includes actual case studies of existing buildings, reviews of current knowledge for damages and their mitigation, protective design technologies, and analytical and computational techniques. This monograph also provides an experimental investigation on the properties of fiber reinforced concrete that consists of natural fibres like coconut coir and also steel fibres that are used for comparison in both Normal Strength Concrete (NSC) and High Strength Concrete (HSC). In addition, the authors examine the use of various repair techniques for damaged high rise buildings. The book will help upcoming structural design engineers learn the computer aided analysis and design of real existing high rise buildings ...

  20. Knowledge inventory for resource efficiency measures in existing buildings; Kunskapsinventering avseende resurseffektiviserande aatgaerder inom befintlig bebyggelse

    Energy Technology Data Exchange (ETDEWEB)

    Jarnehammar, Anna; Kildsgaard, Ivana; Prejer, Erik

    2011-07-01

    The report summarizes the state of knowledge for various renovation measures of apartment buildings built between 1941-1980. The renovation potential is estimated to give half the energy use for heating and hot water. This efficiency improvement is considered possible, but not likely. There are many case studies of individual projects with theoretical calculations of renovation potential for different measures. There are relatively many general studies of the housing stock in general where the potential for various measures have been calculated for the whole of Sweden, but few studies of actual projects completed. Binding minimum requirements related to the Energy Performance of Buildings Directive (EPBD) for buildings for renovation has been introduced in several other countries in the EU which is also found to contribute to more energy-efficient measures introduced in major renovation projects. The key measures that we have found is the introduction of FTX system, renovation of the building envelope as well as individual metering and billing of heating and hot water.

  1. Improvement of the Sustainability of Existing School Buildings According to the Leadership in Energy and Environmental Design (LEED® Protocol: A Case Study in Italy

    Directory of Open Access Journals (Sweden)

    Giuliano Dall'O'

    2013-12-01

    Full Text Available School-age students spend much of their time in school buildings. The sustainability of these buildings should be a priority as better comfort with a high indoor air quality contributes to an improvement in the conditions for learning. Although new school buildings are often built with high standards of sustainability and energy efficiency, the existing school building stock is generally characterised by very poor quality. The energy retrofit of existing school buildings in recent years is part of the policies of the European Union and, consequently, of the Member States. However, rarely do these measures consider aspects other than energy. This paper proposes and discusses a feasibility study which provides a considerable improvement in the environmental quality of 14 school buildings located in northern Italy: the objective is to ensure the requirements for Leadership in Energy and Environmental Design (LEED® certification. The analysis considers both the technical and economic aspects. The study shows that there is a technical feasibility: the credits are between 42 and 54, moreover the major cost (the cost of building envelope and heating systems retrofit is 82.9% of the total cost is due to the improvement of energy efficiency. The improvement of sustainability is therefore a reasonable strategy even if the application of the LEED Protocol in the Italian context involves some critical issues that are discussed in the paper.

  2. Efficient Solutions and Cost-Optimal Analysis for Existing School Buildings

    Directory of Open Access Journals (Sweden)

    Paolo Maria Congedo

    2016-10-01

    Full Text Available The recast of the energy performance of buildings directive (EPBD describes a comparative methodological framework to promote energy efficiency and establish minimum energy performance requirements in buildings at the lowest costs. The aim of the cost-optimal methodology is to foster the achievement of nearly zero energy buildings (nZEBs, the new target for all new buildings by 2020, characterized by a high performance with a low energy requirement almost covered by renewable sources. The paper presents the results of the application of the cost-optimal methodology in two existing buildings located in the Mediterranean area. These buildings are a kindergarten and a nursery school that differ in construction period, materials and systems. Several combinations of measures have been applied to derive cost-effective efficient solutions for retrofitting. The cost-optimal level has been identified for each building and the best performing solutions have been selected considering both a financial and a macroeconomic analysis. The results illustrate the suitability of the methodology to assess cost-optimality and energy efficiency in school building refurbishment. The research shows the variants providing the most cost-effective balance between costs and energy saving. The cost-optimal solution reduces primary energy consumption by 85% and gas emissions by 82%–83% in each reference building.

  3. From Point Clouds to Building Information Models: 3D Semi-Automatic Reconstruction of Indoors of Existing Buildings

    Directory of Open Access Journals (Sweden)

    Hélène Macher

    2017-10-01

    Full Text Available The creation of as-built Building Information Models requires the acquisition of the as-is state of existing buildings. Laser scanners are widely used to achieve this goal since they permit to collect information about object geometry in form of point clouds and provide a large amount of accurate data in a very fast way and with a high level of details. Unfortunately, the scan-to-BIM (Building Information Model process remains currently largely a manual process which is time consuming and error-prone. In this paper, a semi-automatic approach is presented for the 3D reconstruction of indoors of existing buildings from point clouds. Several segmentations are performed so that point clouds corresponding to grounds, ceilings and walls are extracted. Based on these point clouds, walls and slabs of buildings are reconstructed and described in the IFC format in order to be integrated into BIM software. The assessment of the approach is proposed thanks to two datasets. The evaluation items are the degree of automation, the transferability of the approach and the geometric quality of results of the 3D reconstruction. Additionally, quality indexes are introduced to inspect the results in order to be able to detect potential errors of reconstruction.

  4. Operational Planning of Low-Energy District Heating Systems Connected to Existing Buildings

    DEFF Research Database (Denmark)

    Tol, Hakan; Svendsen, Svend

    2012-01-01

    This article focuses on low-energy District Heating (DH) systems operating in low-temperatures such as 55°C in terms of supply and 25°C in terms of return in connection with existing buildings. Since the heat loss from the network has a significant impact in case of supplying heat to low-energy h...... the buildings. Since the existing buildings were considered to be renovated to low-energy class, the operational planning was simultaneously modelled for both present high-demand and future low-demand situations of the same case area........ The response of the radiator heating systems at different levels of supply temperature was used to form the operational planning of the low-energy DH system, which determined the design parameters of the low-energy DH network in terms of overall mass flow requirement and the return temperature from...

  5. Improvement of energy performances of existing buildings by application of solar thermal systems

    Directory of Open Access Journals (Sweden)

    Krstić-Furundžić Aleksandra

    2009-01-01

    Full Text Available Improvement of energy performances of the existing buildings in the suburban settlement Konjarnik in Belgrade, by the application of solar thermal systems is the topic presented in this paper. Hypothetical models of building improvements are created to allow the benefits of applying solar thermal collectors to residential buildings in Belgrade climate conditions to be estimated. This case study presents different design variants of solar thermal collectors integrated into a multifamily building envelope. The following aspects of solar thermal systems integration are analyzed in the paper: energy, architectural, ecological and economic. The results show that in Belgrade climatic conditions significant energy savings and reduction of CO2 emissions can be obtained with the application of solar thermal collectors.

  6. Technology Prioritization: Transforming the U.S. Building Stock to Embrace Energy Efficiency

    Energy Technology Data Exchange (ETDEWEB)

    None

    2013-07-01

    This paper discusses the efforts to accelerate the transformation in the U.S. building energy efficiency sector using a new technology prioritization framework. The underlying analysis examines building energy use micro segments using the Energy Information Administration Annual Energy Outlook and other publically available information. The U.S. Department of Energy’s Building Technologies Office (BTO) has developed a prioritization tool in an effort to inform programmatic decision making based on the long-term national impact of different energy efficiency measures. The prioritization tool can be used to investigate energy efficiency measures under a variety of scenarios and has a built-in energy accounting framework to prevent double counting of energy savings within any given portfolio. This tool is developed to inform decision making and estimate long term potential energy savings for different market adoption scenarios. It provides an objective comparison of new and existing measures and is being used to inform decision making with respect to BTO’s portfolio of projects.

  7. Building Energy Simulation Test for Existing Homes (BESTEST-EX) Methodology: Preprint

    Energy Technology Data Exchange (ETDEWEB)

    Judkoff, R.; Polly, B.; Bianchi, M.; Neymark, J.

    2011-11-01

    The test suite represents a set of cases applying the new Building Energy Simulation Test for Existing Homes (BESTEST-EX) Methodology developed by NREL. (Judkoff et al. 2010a). The NREL team developed the test cases in consultation with the home retrofit industry (BESTEST-EX Working Group 2009), and adjusted the test specifications in accordance with information supplied by a participant with access to large utility bill datasets (Blasnik 2009).

  8. Upgrading the seismic capacity of existing RC buildings using buckling restrained braces

    Directory of Open Access Journals (Sweden)

    Hamdy Abou-Elfath

    2017-06-01

    Full Text Available Many existing RC buildings do not meet the lateral strength requirements of current seismic codes and are vulnerable to significant damage or collapse in the event of future earthquakes. In the past few decades, buckling-restrained braces have become increasingly popular as a lateral force resisting system because of their capability of improving the strength, the stiffness and the energy absorbing capacity of structures. This study evaluates the seismic upgrading of a 6-story RC-building using single diagonal buckling restrained braces. Seismic evaluation in this study has been carried out by static pushover analysis and time history earthquake analysis. Ten ground motions with different PGA levels are used in the analysis. The mean plus one standard deviation values of the roof-drift ratio, the maximum story drift ratio, the brace ductility factors and the member strain responses are used as the basis for the seismic performance evaluations. The results obtained in this study indicate that strengthening of RC buildings with buckling restrained braces is an efficient technique as it significantly increases the PGA capacity of the RC buildings. The results also indicate the increase in the PGA capacity of the RC building with the increase in the amount of the braces.

  9. Building

    OpenAIRE

    Seavy, Ryan

    2014-01-01

    Building for concrete is temporary. The building of wood and steel stands against the concrete to give form and then gives way, leaving a trace of its existence behind. Concrete is not a building material. One does not build with concrete. One builds for concrete. MARCH

  10. The Application of Buckling Reinforced Bracing and Shear Wall in Retrofitting of Existing Concrete Building

    Directory of Open Access Journals (Sweden)

    Mahdi Izadi

    2015-06-01

    Full Text Available Vulnerable buildings and their rehabilitation are important problems for earthquake regions. In recent decades the goal of building rehabilitation and strengthening has gained different rehabilitation systems. However, most of these strengthening techniques disturb the occupants, who must vacate the building during renovation. Several retrofitting techniques such as addition masonry infill wall, application of buckling restrained braces and local modification of components has been studied in order to improve the overall seismic performance of such buildings. In response to many of the practical issues and economic considerations, engineers use often convergent unbuckling steel bracing frames as the lateral load resisting system during an earthquake.This kind of bracings increases the hardness and strength of concrete structures.The aim of the present study is the evaluation and comparison of seismic performance and retrofitting of an existing 7-storeys concrete structure with buckling restrained bracings and shear walls by nonlinear static procedure (NSP and accordance with cod-361. The results show that the buckling restrained bracing, decreased drift to acceptable levels and Structure behaves on the life safety of performance level.

  11. Building Energy Simulation Test for Existing Homes (BESTEST-EX) (Presentation)

    Energy Technology Data Exchange (ETDEWEB)

    Judkoff, R.; Neymark, J.; Polly, B.

    2011-12-01

    This presentation discusses the goals of NREL Analysis Accuracy R&D; BESTEST-EX goals; what BESTEST-EX is; how it works; 'Building Physics' cases; 'Building Physics' reference results; 'utility bill calibration' cases; limitations and potential future work. Goals of NREL Analysis Accuracy R&D are: (1) Provide industry with the tools and technical information needed to improve the accuracy and consistency of analysis methods; (2) Reduce the risks associated with purchasing, financing, and selling energy efficiency upgrades; and (3) Enhance software and input collection methods considering impacts on accuracy, cost, and time of energy assessments. BESTEST-EX Goals are: (1) Test software predictions of retrofit energy savings in existing homes; (2) Ensure building physics calculations and utility bill calibration procedures perform up to a minimum standard; and (3) Quantify impact of uncertainties in input audit data and occupant behavior. BESTEST-EX is a repeatable procedure that tests how well audit software predictions compare to the current state of the art in building energy simulation. There is no direct truth standard. However, reference software have been subjected to validation testing, including comparisons with empirical data.

  12. Enhancement of Fire Safety of an Existing Green Building due to Natural Ventilation

    Directory of Open Access Journals (Sweden)

    Hong Sheng Huang

    2016-03-01

    Full Text Available In recent years, natural ventilation technology is extensively used in order to improve indoor environment quality and reduce power consumption of air-conditioning systems in green buildings. However, the effect of natural ventilation on fires needs to be evaluated carefully, and how to make these energy-saving buildings safe is a topic worth studying. This study uses Fire Dynamics Simulator on some fire safety enhancement measures for an existing green building without installation of a smoke exhaust system. Since the building is located on a school campus, it does not require a smoke exhaust system according to Taiwan fire regulations. Referential results, obtained after a series of improvement strategies are tested, show that kiln natural ventilation can generate a comfortable air flow. Unfortunately, due to the stack effect, hot air and fatal smoke are blown into the evacuation route area behind the room when a fire occurs. The findings showed that there are two feasible improvement measures, “controlling the off state of each air inlet” and “setting up an exhaust port in the rear of room”, which can effectively resolve the fire safety issues; the construction of which can be undertaken at a reasonable cost.

  13. Life-Cycle Assessment of Seismic Retrofit Strategies Applied to Existing Building Structures

    Directory of Open Access Journals (Sweden)

    Umberto Vitiello

    2016-12-01

    Full Text Available In the last few years, the renovation and refurbishment of existing buildings have become the main activities of the construction industry. In particular, many studies have recently focused on the mechanical and energy performances of existing retrofitted/refurbished facilities, while some research has addressed the environmental effects of such operations. The present study aims to assess the environmental impact of some retrofit interventions on an existing reinforced concrete (RC building. Once the structural requirements have been satisfied and the environmental effects of these retrofit solutions defined, the final purpose of this study is to identify the most environmentally sustainable retrofit strategy. The environmental impact of the structural retrofit options is assessed using a life-cycle assessment (LCA. This paper sets out a systematic approach that can be adopted when choosing the best structural retrofit option in terms of sustainability performance. The final aim of the study is to also provide a tool for researchers and practitioners that reflects a deep understanding of the sustainability aspects of retrofit operations and can be used for future researches or practical activities.

  14. Energetic Refurbishment of Historic Brick Buildings

    DEFF Research Database (Denmark)

    Zagorskas, Jurgis; Mykolas Paliulis, Grazvydas; Burinskiene, Marija

    2013-01-01

    Building standards for energy effectiveness are increasing constantly and the market follows these changes by constructing new buildings in accordance with standards and refurbishment of the existing housing stock. Comprehensive trends in European construction market show tremendous increase in b...

  15. Impact of Window Films on the Overall Energy Consumption of Existing UK Hotel Buildings

    Directory of Open Access Journals (Sweden)

    Ali Bahadori-Jahromi

    2017-05-01

    Full Text Available Recently, considerable attention has justifiably been directed towards energy savings in buildings as they account for up to 20–40% of total energy consumption in developed countries. In the United Kingdom, studies have revealed that buildings’ CO2 emissions for account for at least 43% of total emissions. Window panels are a major component of the building fabric with considerable influence on the façade energy performance and are accountable for up to 60% of a building’s overall energy loss. Therefore, the thermal performance of glazing materials is an important issue within the built environment. This work evaluates the impact of solar window films on the overall energy consumption of an existing commercial building via the use of a case study U.K. hotel and TAS dynamic simulation software. The study results demonstrated that the impact of window films on the overall energy consumption of the case study hotel is approximately 2%. However, an evaluation of various overall energy consumption components showed that the window films reduce the annual total cooling energy consumption by up to 35% along with a marginal 2% increase in the annual total heating energy consumption. They can also provide overall cost and CO2 emissions savings of up to 3%.

  16. Alternative for Summer Use of Solar Air Heaters in Existing Buildings

    Directory of Open Access Journals (Sweden)

    Sergio L. González-González

    2017-07-01

    Full Text Available Among solar thermal technologies for indoor heating, solar air heaters (SAH are appealing for implementation on existing buildings due to their simplicity, fewer risks related to the working fluid, and possible independence from the building structure. However, existing research work mainly focuses on winter use and still fails in providing effective solutions for yearly operation, which would enhance their interest. With the aim of analysing an alternative summer use, this work firstly characterises a double channel-single pass solar air collector through experimentation. From the obtained results, modelling and simulation tasks have been conducted to evaluate the possibilities of using hot air, provided by the SAH, while operating under summer conditions within a closed loop, to feed an air-to-water heat exchanger for domestic hot water (DHW production. The system is studied through simulation under two different configurations for a case study in Valladolid (Spain, during the period from May to September for different airflows in the closed loop. Results show that daily savings can vary from 27% to 85% among the different operating conditions; a configuration where make-up water is fed to the heat exchanger being preferable, with a dedicated water tank for the solar heated water storage of the minimum possible volume. The more favourable results for the harshest months highlight the interest of extending the use of the solar air heaters to the summer period.

  17. Rapid energy modeling for existing buildings: Testing the business and environmental potential through an experiment at Autodesk

    Energy Technology Data Exchange (ETDEWEB)

    Deodhar, Aniruddha; Stewart, Emma; Young, Rahul; Khan, Haider

    2010-09-15

    Retrofits of existing buildings represent a huge, growing market and an opportunity to achieve some of the most sizable and cost-effective carbon reductions in any sector of the economy. More 'zero energy' and 'carbon neutral' buildings are being conceived daily by combining energy efficiency measures with renewable energy technologies. However, for all the progress, the building industry faces technical and cost challenges in identifying the highest potential retrofit candidates. This presentation investigates one potential solution, a technology driven workflow called rapid energy modeling, to accelerate and scale the process of analyzing performance for existing buildings in prioritizing improvements.

  18. How to simulate pedestrian behaviors in seismic evacuation for vulnerability reduction of existing buildings

    Science.gov (United States)

    Quagliarini, Enrico; Bernardini, Gabriele; D'Orazio, Marco

    2017-07-01

    Understanding and representing how individuals behave in earthquake emergencies would be essentially to assess the impact of vulnerability reduction strategies on existing buildings in seismic areas. In fact, interactions between individuals and the scenario (modified by the earthquake occurrence) are really important in order to understand the possible additional risks for people, especially during the evacuation phase. The current approach is based on "qualitative" aspects, in order to define best practice guidelines for Civil Protection and populations. On the contrary, a "quantitative" description of human response and evacuation motion in similar conditions is urgently needed. Hence, this work defines the rules for pedestrians' earthquake evacuation in urban scenarios, by taking advantages of previous results of real-world evacuation analyses. In particular, motion laws for pedestrians is defined by modifying the Social Force model equation. The proposed model could be used for evaluating individuals' evacuation process and so for defining operative strategies for interferences reduction in critical urban fabric parts (e.g.: interventions on particular buildings, evacuation strategies definition, city parts projects).

  19. Assessment Processes to Increase the Burden of Existing Buildings Using BIM

    Science.gov (United States)

    Szeląg, Romuald

    2017-10-01

    The process of implementation of the reconstruction of buildings is often associated with the need to adapt them to increased loads. In the restricted access to the archive project documentation it is necessary to use technical solutions to obtain a fairly short period of time necessary to implement the technical parameters of such processes. Dissemination of BIM in the design process can also be used effectively in the processes of identification of existing facilities for the implementation of the work of strengthening or adapting objects to the increased load requirements. Obtained in the process of research and macroscopic data is then used in the processes of numerical processing aimed at developing a numerical model reflects the actual parameters of the structure of the existing structure and, therefore, allows a better look at the object and the execution of the process to strengthen future. This article will identify possibilities for the use of BIM in processes of identification technology buildings and structures and indicated the necessary data to be obtained during the preliminary work. Introduced in model solutions enable the use of multi-criteria analysis of the choice of the most optimal solutions in terms of costs or expenditures of time during the process of construction. Taking the above work by building a numerical model of the object allows every step of verification by authorized person inventoried solutions and enables tracking and changes in the situation of those found derogations in relation to the parameters established at the primary stage. In the event of significant deviations, there is the possibility of rapid changes to the completed process of calculation and presentation of alternative solutions. Availability software using BIM technology is increasingly common here knowledge of the implementation of such solutions will become in a short time, the standard for most objects or engineering structures. The use of modern solutions using

  20. Evaluation of financial aspects and energy performance indicators of residential building stock in the Netherlands

    NARCIS (Netherlands)

    Entrop, Alexis Gerardus; Reinders, Angelina H.M.E.; Brouwers, Jos; Kenneweg, H.; Tröger, U.

    2007-01-01

    The introduction of the concept of sustainable building in the construction industry has led to different measures to reduce the environmental impact of building objects in the past decades. Because the built environment accounts for more than 40% of the total energy consumption in Europe (EC,

  1. Energy conservation in existing office buildings. Appendices to report, Phase I, Volume 2

    Energy Technology Data Exchange (ETDEWEB)

    1977-06-01

    A blank form of Questionnaire No. 1 is first presented, followed by data compiled from that questionnaire. Then data are presented on the analyses of the 436 buildings, statistical validation for selection of the 44 building sample, and some examples of the matching buildings for the 44 building sample. Questionnaire No. 2 is then given, followed by additional data collected from the study concerning energy consumption and building characteristics. To complete the appendices, a simulation of a typical building and a hypothetical building is included. (MCW)

  2. Expert Meeting Report: Transforming Existing Buildings through New Media - An Idea Exchange

    Energy Technology Data Exchange (ETDEWEB)

    Hunt, Stacy [Building Media and the Building America Retrofit Alliance (BARA), Wilmington, DE (United States)

    2012-05-01

    This report describes results of a Building America expert meeting on September 13, 2011, in Las Vegas, Nevada, hosted by the Building America Retrofit Alliance (BARA). This meeting provided a forum for presentations and discussions on the use of new media to work with remodelers and retrofit projects to improve energy efficiency and deliver research results from the Building America program to remodelers.

  3. Expert Meeting Report: Transforming Existing Buildings through New Media--An Idea Exchange

    Energy Technology Data Exchange (ETDEWEB)

    Hunt, S.

    2012-05-01

    This report describes results of a Building America expert meeting on September 13, 2011, in Las Vegas, Nevada, hosted by the Building America Retrofit Alliance (BARA). This meeting provided a forum for presentations and discussions on the use of new media to work with remodelers and retrofit projects to improve energy efficiency and deliver research results from the Building America program to remodelers.

  4. Assessment of an Existing RC Building before and after Strengthening Using Nonlinear Static Procedure and Incremental Dynamic Analysis

    Directory of Open Access Journals (Sweden)

    Amir A. Hedayat

    2010-01-01

    Full Text Available Inadequate attention during design and construction of some of reinforced concrete (RC buildings in Cyprus has raised questions about the performance level of these existing buildings under future earthquakes. This study aimed to assess the seismic structural response of a four story existing RC building. For this purpose, first, the weak structural elements (e.g.\\ the not safety column-beam joints and weak columns were detected using linear static procedure (LSP analyses on the basis of Turkish earthquake code. Then, two different strengthening methods were examined. In the first method which is common in Cyprus, the existing building was strengthened based on LSP, using column jacketing to satisfy seismic code requirements to remove the weak elements. The second strengthening method was carried out using nonlinear static procedures (NSP to achieve the basic safety objective (BSO performance level described in FEMA 356. For existing and both strengthened structures, pushover curves were obtained and following FEMA 356, performance points were calculated and compared. The seismic responses of existing and strengthened buildings were also assessed using incremental dynamic analyses (IDA. Nonlinear dynamic time history analyses have been performed by using SDOF models of these buildings under action of different scales of 20 ground motion records. Then IDA curves for each earthquake have been constructed. Limit – states at each performance level have been defined and summarizing the multi – record IDA curves, 16%, 50% and 84% fractile curves were obtained. Since selected structure represents common existing buildings in Cyprus, probabilistic structural damage estimation fragility curves were also obtained in terms of peak ground acceleration (PGA for each considered performance level. Results showed that the strengthening method based on the NSP to satisfy the BSO requirements is much more effective than the one based on the LSP to improve

  5. Development of methods for assessing the vulnerability of Australian residential building stock to severe wind

    Science.gov (United States)

    Wehner, Martin; Ginger, John; Holmes, John; Sandland, Carl; Edwards, Mark

    2010-08-01

    Knowledge of the degree of damage to residential structures expected from severe wind is used to study the benefits from adaptation strategies developed in response to expected changes in wind severity due to climate change. This study will inform government, the insurance industry and provide emergency services with estimates of expected damage. A series of heuristic wind vulnerability curves for Australian residential structures has been developed. In order to provide rigor to the heuristic curves and to enable quantitative assessment to be made of adaptation strategies, work has commenced to produce a simulation tool to quantitatively assess damage to buildings from severe wind. The simulation tool accounts for variability in wind profile, shielding, structural strength, pressure coefficients, building orientation, component self weights, debris damage and water ingress via a Monte Carlo approach. The software takes a component-based approach to modelling building vulnerability. It is based on the premise that overall building damage is strongly related to the failure of key components (i.e. connections). If these failures can be ascertained, and associated damage from debris and water penetration reliably estimated, scenarios of complete building damage can be assessed. This approach has been developed with varying degrees of rigor by researchers around the world and is best practice for the insurance industry.

  6. Integration of PV modules in existing Romanian buildings from rural areas

    Energy Technology Data Exchange (ETDEWEB)

    Fara, S.; Finta, D. [IPA SA Research Development, Engineering and Manufacturing for Automation Equipment and Systems, Bucharest (Romania); Fara, L.; Comaneci, D. [Polytechnic Univ. of Bucharest (Romania); Dabija, A.M. [Univ. of Architecture and Urbanism Ion Mincu, Bucharest (Romania); Tulcan-Paulescu, E. [West Univ. of Timisoara, Timisoara (Romania)

    2010-07-01

    Romania has launched a national research project to promote the use of distributed solar architecture and the use of BIPV systems. These systems include solar tunnels and active solar photovoltaic (PV) systems installed on the roofs and facades of buildings in rural areas. In contrast to other EU states, Romania does not have a photovoltaic building construction branch. The number of isolated cases are insufficient to identify a starting point regarding the PV market in the building industry. The main objective of the project is to demonstrate the efficiency of integrating various PV elements in buildings from rural areas, to test them and to make them known so that they can be used on a large scale. This will be accomplished by installing new products on 2 buildings in Bucharest and in 1 building in Timisoara. The PV modules will be integrated with the architecture. One of the buildings will be a historical building while the other 2 will be new buildings with different typologies. The installed power for each building will be of about 1.000 Wp, including some technologies with PV modules.

  7. Assessment of Seismic Damage on The Exist Buildings Using Fuzzy Logic

    Science.gov (United States)

    Pınar, USTA; Nihat, MOROVA; EVCİ, Ahmet; ERGÜN, Serap

    2018-01-01

    Earthquake as a natural disaster could damage the lives of many people and buildings all over the world. These is micvulnerability of the buildings needs to be evaluated. Accurate evaluation of damage sustained by buildings during natural disaster events is critical to determine the buildings safety and their suitability for future occupancy. The earthquake is one of the disasters that structures face the most. There fore, there is a need to evaluate seismic damage and vulnerability of the buildings to protect them. These days fuzzy systems have been widely used in different fields of science because of its simpli city and efficiency. Fuzzy logic provides a suitable framework for reasoning, deduction, and decision making in fuzzy conditions. In this paper, studies on earthquake hazard evaluation of buildings by fuzzy logic modeling concepts in the literature have been investigated and evaluated, as a whole.

  8. Energy efficiency by remote management of buildings. Hints to enhance the energy balance of existing buildings; Energieeffizienz durch Gebaeude-Fernmanagement. Tipps zur Verbesserung der Energiebilanz von Bestandsgebaeuden

    Energy Technology Data Exchange (ETDEWEB)

    Rader, M. [CentraLine Honeywell GmbH, Schoenaich (Germany)

    2008-07-01

    Increasing energy cost and ever more rigid legal specifications have made energy efficiency an issue among builder-owners, planners, and owners and users of buildings. According to the EU action plan of the EU Commission, the biggest potential for savings - in the range of 27 - 30 percent by 2020 - is in the field of existing buildings. This contribution shows some of the options available for assessing and utilising the energy conservation potential. (orig.)

  9. Ringkøbing-Skjern energy atlas for analysis of heat saving potentials in building stock

    DEFF Research Database (Denmark)

    Petrovic, Stefan; Karlsson, Kenneth Bernard

    2016-01-01

    such drastic change of municipality's energy system. For that purpose, GIS-based Ringkøbing-Skjern Energy Atlas has been developed. The present paper utilises Ringkøbing-Skjern Energy Atlas together with the Heating Model to calculate potentials and costs of heat saving measures.The results show......Ringkøbing-Skjern municipality aims to be 100% self-sufficient in renewable energy supply starting from 2020. It is expected that the building sector will contribute by reducing energy demand by 25-50%.Technical, economic, environmental and geographical aspects need to be considered when analysing...... that the reduction of heating demand by 25% and 35% can be achieved at the annuitized full cost lower than 1.7 and 2 DKK/kWh, respectively. The results also show that significant heat saving potential lies in farmhouses and detached houses as well as in buildings built before 1950. Over 75% of very cheap heat saving...

  10. Towards a More Sustainable Building Stock: Optimizing a Flemish Dwelling Using a Life Cycle Approach

    Directory of Open Access Journals (Sweden)

    Matthias Buyle

    2015-05-01

    Full Text Available Over the past decades, the construction sector has focused strongly on reducing operational energy consumption. Other types of environmental impact that occur during the life span of construction works, however, have to be taken into account as well. This case study focuses on developing scenarios to improve the environmental profile of new buildings in the Flemish/Belgian context. The study takes into account current energy regulation and investigates the influence of energy scenarios and building type on the environmental profile. A life cycle energy assessment (LCEA and a life cycle impact assessment (LCIA were carried out for all scenarios, supplemented by a screening life cycle costing (LCC. The results indicate the importance of the compactness of a building, with the best results identified for the terraced scenario. The results are due to the reduced use of materials and, to a smaller extent, a reduction in energy consumption (smaller exposed surface. The results of the energy scenarios show a discrepancy between the LCEA and LCIA. According to the LCEA, passive scenarios are always preferable, but the LCIA results suggest two ways to reach a similar environmental profile. Firstly, by providing a level of insulation based on current regulations complemented with advanced technical services, and, alternatively, by increasing the level of insulation along with standard services. The results of the LCC show a similar trend to those of the LCIA. The results therefore suggest that there are multiple ways to improve the environmental profile of new buildings. Nevertheless, the choice of impact assessment method can have a strong influence on the results.

  11. Mobilisation of the potential for the renewal of energy systems in existing buildings; Mobilisierung der energetischen Erneuerungspotenziale im Wohnbaubestand

    Energy Technology Data Exchange (ETDEWEB)

    Ott, W.; Baur, M.; Kaufmann, Y. [econcept AG, Zuerich (Switzerland); Jakob, M.; Ott, A. [Centre for Energy Policy and Economics (CEPE), ETH Zuerich, Zuerich (Switzerland)

    2005-07-01

    This comprehensive report for the Swiss Federal Office of Energy (SFOE) summarises the findings of an energy-policy project that looked into the potential for the renewal of energy systems in existing buildings. The report presents an analysis of the situation as far as buildings, their ownership and the development of renovation work is concerned. Also, the results of a survey made under the owners of buildings and managers of real estate with respect to building renovation aspects are presented and discussed. Further, an analysis of problems arising from deficits in the renewal of energy-relevant components is provided and background and motivation for the renewal of buildings are looked at. Also, economic aspects and sustainability issues are considered. A further chapter covers strategies and measures that can be used to mobilise the renewal potential, including legislature and labelling systems.

  12. Façade system for existing office buildings in Copenhagen

    DEFF Research Database (Denmark)

    Hannoudi, Loay Akram; Christensen, Jørgen Erik; Lauring, Michael

    2015-01-01

    This study investigates solutions for facade renovation of general office buildings built between 1960 and 1980 in the Copenhagen Municipality. 44 buildings are used for the study. They share common structural and construction principles like the use of beams and columns and prefabricated elements...

  13. ENERGY DEMANDS OF THE EXISTING COLLECTIVE BUILDINGS WITH BEARING STRUCTURE OF LARGE PRECAST CONCRETE PANELS FROM TIMISOARA

    Directory of Open Access Journals (Sweden)

    Pescari S.

    2015-05-01

    Full Text Available One of the targets of EU Directives on the energy performance of buildings is to reduce the energy consumption of the existing buildings by finding efficient solutions for thermal rehabilitation. In order to find the adequate solutions, the first step is to establish the current state of the buildings and to determine their actual energy consumption. The current paper aims to present the energy demands of the existing buildings with bearing structure of large precast concrete panels in the city of Timisoara. Timisoara is one of the most important cities in the west side of Romania, being on the third place in terms of size and economic development. The Census of Population and Housing of 2011 states that Timisoara has about 127841 private dwellings and 60 percent of them are collective buildings. Energy demand values of the existing buildings with bearing structure of large precast concrete panels in Timisoara, in their current condition, are higher than the accepted values provided in the Romanian normative, C107. The difference between these two values can reach up to 300 percent.

  14. An Approach to Find Localization of Non-Existent Historical Buildings by Terrestrial Photogrammetry

    Science.gov (United States)

    Acar, U.; Bayram, B.; Cetin, H. I.

    2012-07-01

    Preservation of cultural and historical values located in Bosphorus Area in Turkey and protection of natural structure is guaranteed by Bosphorus Law. According to the law, land owners who want to raise a new building in Bosphorus area can only do exactly like the previously constructed building in that area. In the event that there is no construction whatsoever regarding the building in the area, information about the building that will be constructed can only be reached by historical photographs. The study that is presented is made with the purpose of identifying if the historical building that can only be reached by historical maps and photographs and is planned to be reconstructed in the Bosphorus area, is the building shown in photographs or not, and also if it is on the alleged area. Aerial photograph of 1937, actual 1/1000 scaled digital photogrammetric map and satellite image of the same area, historical perspective photograph that was taken between 1903-1907, actual photograph that was taken with around the same perspective and 3D Google Earth image which provides the same perspective are used for this process. Historical buildings that remain the same until today are confirmed by the historical aerial photograph which includes study area and these buildings are used as control point. In the same way, with the historical perspective photograph, buildings that reach until today are confirmed and used as control point. With the acquired results, that the building is totally in the alleged parcel is crosschecked with all methods and confirmed with the error of 1.8357 meters.

  15. Upgrading of the non-residential building stock towards nZEB standard

    DEFF Research Database (Denmark)

    Haavik, Trond; Helgesen, Paul Jacob; Rose, Jørgen

    the Net Zero Energy Building standards NZEB in a sustainable and cost efficient way; ways to identify important market and policy issues; and effective marketing strategies for such renovations. This report describes the work of Subtask B, which covers market and policy issues and marketing strategies......A few exemplary non-residential renovation projects have demonstrated that total primary energy consumption can be drastically reduced, together with improvements to indoor environment quality through renovation of a building’s passive and active systems. Because most property owners are not even...

  16. Building Energy Simulation Test for Existing Homes (BESTEST-EX); Phase 1 Test Procedure: Building Thermal Fabric Cases

    Energy Technology Data Exchange (ETDEWEB)

    Judkoff, Ron [National Renewable Energy Lab. (NREL), Golden, CO (United States; Polly, Ben [National Renewable Energy Lab. (NREL), Golden, CO (United States; Bianchi, Marcus [National Renewable Energy Lab. (NREL), Golden, CO (United States; Neymark, Joel [J. Neymark & Associates, Golden, CO (United States)

    2010-08-01

    This report documents the initial Phase 1 test process for testing the reliability of software models that predict retrofit energy savings of existing homes, including their associated calibration methods.

  17. Applicability and economic efficiency of earthquake retrofit measures on existing buildings in Bucharest, Romania

    Science.gov (United States)

    Bostenaru, M.

    2009-04-01

    The research discussed in this contribution contains two aspects: on one side the economic efficiency of seismic retrofit measures, and on the other their applicability. The research was limited to housing buildings. Bucharest, the capital of Romania, was the object of the research. Strong earthquakes affect Bucharest about three times in a century, the damaging earthquakes of the 20th century being in 1940 and 1977. Other strong earthquakes occurred in 1986 and 1990. Since it is a broad topic, first the building type was determined, which should serve further research. For this scope the building types of the 20th century, which are common in Bucharest, Romania, were investigated. For each building type reports have been written, which comprised the earthquake resilient features, the seismic defficiencies, the damage patterns and the retrofit measures. Each of these features was listed for elements of the building. A first result of the research was an integrated system in order to include latter aspects in the planning in the first steps. So already at the building survey attention has to be paid on how a building is subdivided in order to be able to determine the economic efficiency of the planned action. So were defined the `retrofit elements`. In a first step the characteristics were defined, through which these retrofit elements (for example column, wall part between two windows) can be recognised in the building survey. In a further one, which retrofit measures can be connected to these. Diagrams were built, in order to visualise these findings. For each retrofit element and the corresponding measure the costs were calculated. Also, these retrofit elements and the measures connected to them were modelled for the simulation with the structural software, so that the benefit of the measures could be determined. In the part which regarded the economic efficiency, benefits and costs of retrofit measures had to be compared, so the improvement in the rigidity

  18. Combined effects of axial load and concrete strength variation on the seismic performance of existing RC buildings

    NARCIS (Netherlands)

    Mariani, V.; Tanganelli, Marco; Viti, Stefania; De Stefano, M.

    2016-01-01

    It is well known that the axial load plays an important role in the evaluation of the structural capacity of RC columns. In existing buildings this problem can be even more significant than in new ones, since the material can easily present poor mechanical properties. The paper is aimed at the

  19. Retrofitting of existing housing stock

    DEFF Research Database (Denmark)

    Unterrainer, Walter

    2015-01-01

    The paper is a case study in retrofitting an urban quarter with social housing of the 1950´s and 1960´s - a model project in Amberg/Germany. It documents and discusses applied ´acupuncture´ and innovative strategies on very different scales as well as on different layers, in order to meet the goal...

  20. Utilizing 3D building and 3D cadastre geometries for better valuation of existing real estate

    NARCIS (Netherlands)

    Isikdag, U.; Horhammer, M.; Zlatanova, S.; Kathmann, R.; Van Oosterom, P.J.M.

    2015-01-01

    Valuation of the properties is known as real estate appraisal, property valuation or land valuation and is a process which focuses on determining the value of a building or a land lot. The valuation of each real estate is required prior to any transaction as every property is unique in terms of

  1. Innovative Hybrid CHP systems for high temperature heating plant in existing buildings

    NARCIS (Netherlands)

    de Santoli, Livio; Lo Basso, Gianluigi; Nastasi, B.; d’Ambrosio Alfano, Francesca R.; Mazzarella and Piercarlo, Livio

    2017-01-01

    This paper deals with the potential role of new hybrid CHP systems application providing both electricity and heat which are compatible with the building architectural and landscape limitations. In detail, three different plant layout options for high temperature heat production along with the

  2. Acquisition of 3D urban models by analysis of aerial images, digital surface models, and existing 2D building information

    Science.gov (United States)

    Haala, Norbert; Anders, Karl-Heinrich

    1997-08-01

    For a task like 3D building reconstruction, there are three main data sources carrying information which is reburied for a highly automated data acquisition. These data sources are aerial images, digital surface models (DSM), which can either be derived by stereo matching from aerial images or be directly measured by scanning laser systems, and -- at least for highly developed countries -- existing (2D) GIS information on the ground plan or usage of buildings. The way these different data sources should be utilized by a process of 3D building reconstruction depends on the distinctive characteristics of the different, partly complementary type of information they contain. Image data contains much information, but just this complexity causes enormous problems for the automatic interpretation of this data type. The GIS as a secondary data source provides information on the 2D shape, i.e. the ground plan of a building, which is very reliable, although information on the third dimension is missing and therefore has to be provided by other data sources. As the information of a DSM is restricted to surface geometry, the interpretation of this kind of data is easier compared to the interpretation of image data. Nevertheless, due to insufficient spatial resolution or quality of the DSM, optimal results can only be achieved by the combination of all data sources. Within this paper two approaches aiming on the combination of aerial images, digital surface models and existing ground plans for the reconstruction of three- dimensional building reconstructions are demonstrated.

  3. Use Of Snow And Ice Melting Heating Cables On Roofs Of Existing Buildings

    Directory of Open Access Journals (Sweden)

    Metin ONAL

    2017-12-01

    Full Text Available Roofs are construction elements which form the upper part of a building and protect it from the all kinds of fall wind and sun lights. They are made as inclined or terrace shaped according to the climatic characteristics of the area they are located and their intended use. Inclined type roofs are preferred for aesthetic and or functionality. It is in interest of mechanical engineering that falling snow on long and effective regions of winter conditions accumulate on the roof surfaces with low inclination due to adhesion force between snowflakes and the roof covering. The mass of snow that turns into ice due to cold weather and wind creates stalactites in the eaves due to gravity. This snow mass leavesbreaks off from inclined surfaces due to the effect of the sun or any vibration and can damage to people or other objects around the building. Falling snow and ice masses from rooftops in urban areas where winter months are intense are also a matter for engineering applications of landscape architecture. In order to prevent snow and icing on the roofs of the buildings located especially in busy human and vehicle traffic routes the use of heating cables is a practical method. The icing can be prevented by means of the heating cables selected according to the installed power to be calculated based on the type of roof and the current country. The purpose of this study is to introduce heating systems to be mounted on the roofs with a lesser workmanship in a short period instead of difficulties and costs that would occur by increasing the roof inclination in present buildings as well as explaining their working principles.

  4. Factors Influencing the Usage of Compact Fluorescent Lamps in Existing Residential Buildings in Lagos, Nigeria

    Directory of Open Access Journals (Sweden)

    Olusola Olugbemileke Johnson

    2012-01-01

    Full Text Available Nigeria as a developing nation is facing increasing demand for electricity especially in the residential areas. The use of compact fluorescent lamps (CFLs is one of the several measures towards reducing the demand. However, in Nigeria, the use of CFLs is low. The present study was designed to investigate some factors responsible for the low usage of CFLs in Lagos, Nigeria. Questionnaires were administered by hand on 984 households, selected through systematic random sampling techniques from 5 local government areas in Lagos State. The first building along the major street in each of the local government was selected randomly and every tenth building constituted the sample. A household head was surveyed in each of the building selected, and was asked to rate some factors that might have influenced the usage of CFLs. The data generated from the questionnaire were analysed using ranking method. The findings show that inability to measure the saving benefits of CFLs on electricity bills, lack of affordability and high initial cost of acquisition and installation were the most important factors which influence the use of the CFLs. The study concludes by providing some recommendations on how to achieve sustainable energy management in the Lagos and beyond through more efficient residential house lighting.

  5. Building Permits, Building Permits exist in tabular form. We link on the PIN # to get parcel boundaries with building permits. The parcels and the building permits table join is a many to many relationship., Published in 2010, 1:2400 (1in=200ft) scale, Effingham County Government.

    Data.gov (United States)

    NSGIC Local Govt | GIS Inventory — Building Permits dataset current as of 2010. Building Permits exist in tabular form. We link on the PIN # to get parcel boundaries with building permits. The parcels...

  6. Renewable-based low-temperature district heating for existing buildings in various stages of refurbishment

    DEFF Research Database (Denmark)

    Brand, Marek; Svendsen, Svend

    2013-01-01

    Denmark is aiming for a fossil-free heating sector for buildings by 2035. Judging by the national heating plan, this will be achieved mainly by a further spread of DH (district heating) based on the renewable heat sources. To make the most cost-effective use of these sources, the DH supply...... and, for 98% of the year, to below 60 °C. However for the temperatures below 60 °C a low-temperature DH substation is required for DHW (domestic hot water) heating. This research shows that renewable sources of heat can be integrated into the DH system without problems and contribute to the fossil...

  7. Technological retrofit of existing buildings: dwelling quality, environmental sustainability, economic rising

    Directory of Open Access Journals (Sweden)

    Mariangela Bellomo

    2011-04-01

    Full Text Available Redevelopment can stand as an effective response to the converging ecological, energy and economic crises if the energy efficiency of the built heritage can be enhanced using renewable energy and innovative technologies with a low environmental impact. To this end, the Research Unit Technology and Environment, University of Naples Federico II, is undertaking a structured set of studies addressing the issue of retrofit technology of buildings in Campania put up in the second half of the 20th century to help in defining best practices for planning, design and production.

  8. Evaluation of a Regional Retrofit Programme to Upgrade Existing Housing Stock to Reduce Carbon Emissions, Fuel Poverty and Support the Local Supply Chain

    Directory of Open Access Journals (Sweden)

    Joanne Louise Patterson

    2016-12-01

    Full Text Available The first-ever legally binding global climate deal that will be adopted by 195 countries was introduced in Paris in 2015, highlighting that climate change is being recognised as a real and urgent global problem. Legislative interventions need to be accompanied by significant action across all sectors of the built environment through reducing energy demand, providing energy supply from low carbon sources and combining with this with energy storage to enable necessary targets to be met. Retrofitting existing buildings is critical to making these cuts as 80% of buildings currently in existence will still be present in 2050. These retrofits need to be undertaken rapidly using replicable and affordable solutions that benefit both the householder whilst significantly reducing emissions. This paper will present an evaluation of a £9.6 million regional scale retrofit programme funded under the Welsh Governments Arbed 1 Programme which aimed to reduce fuel poverty, reduce carbon emissions and support the energy efficiency and renewable supply chain and encourage recruitment and training in the sector. Results have been obtained from desk top data collection and energy modelling calculations. The evaluation work presents the technical, environmental and economic impacts of the programme and demonstrates lessons learnt to help improve the implementation of the other regional retrofit projects providing evidence of the impacts of a large scale retrofit programme that are necessary for the deep carbon reductions required in the near future.

  9. Building America Case Study: Excavationless Exterior-Side Foundation Insulation for Existing Homes, Minneapolis, Minnesota (Fact Sheet)

    Energy Technology Data Exchange (ETDEWEB)

    NorthernSTAR

    2014-09-01

    Building science research supports installing exterior (soil side) foundation insulation as the optimal method to enhance the hygrothermal performance of new homes. With exterior foundation insulation, water management strategies are maximized while insulating the basement space and ensuring a more even temperature at the foundation wall. However, such an approach can be very costly and disruptive when applied to an existing home, requiring deep excavation around the entire house. The NorthernSTAR Building America Partnership team implemented an innovative, minimally invasive foundation insulation upgrade technique on an existing home. The approach consisted of using hydrovac excavation technology combined with a liquid insulating foam. The team was able to excavate a continuous 4" wide by 4' to 5' deep trench around the entire house, 128 linear feet, except for one small part under the stoop that was obstructed with concrete debris. The combination pressure washer and vacuum extraction technology also enabled the elimination of large trenches and soil stockpiles normally produced by backhoe excavation. The resulting trench was filled with liquid insulating foam, which also served as a water-control layer of the assembly. The insulation was brought above grade using a liquid foam/rigid foam hybrid system and terminated at the top of the rim joist. Cost savings over the traditional excavation process ranged from 23% to 50%. The excavationless process could result in even greater savings since replacement of building structures, exterior features, utility meters, and landscaping would be minimal or non-existent in an excavationless process.

  10. Research trends in existing technologies that are building blocks to the internet of things

    CSIR Research Space (South Africa)

    Dlodlo, N

    2013-07-01

    Full Text Available stream_source_info Dlodlo3_2013.pdf.txt stream_content_type text/plain stream_size 48014 Content-Encoding UTF-8 stream_name Dlodlo3_2013.pdf.txt Content-Type text/plain; charset=UTF-8 Research trends in existing... organisations that are involved in sensor and embedded systems research are the South African Earth Observation network (SEON), the South African National Space Agency (SANSA), and the CSIR’s units such as MSM, DPSS, Central Analytic Services (CAS), ESKOM...

  11. Daylighting for energy conservation in an existing building under tropical climate conditions: a case study of Lai Sue Thai building Ramkhamhaeng University

    Directory of Open Access Journals (Sweden)

    Lerdlekha Tanachaikhan

    2015-12-01

    Full Text Available Daylighting using skylight has been shown to have a high potential in reducing electrical lighting energy, and could provide a more pleasant atmosphere of a daylit space. However, in hot climates, the main constraint of daylighting is the solar heat gain that contributes to major heat load for an air-conditioning system. If the balance between the beneficial light gain used to offset lighting energy requirement and heat gain from daylight is well considered, significant energy savings can be obtained. The main objective of the study is to evaluate the potential of daylighting for energy conservation in the tropics through theoretical analysis (simulation study and experimental observation. Lai Sue Thai Building (an existing and educational building located at Ramkhamkaeng University was selected as a case study. From analysis, use of daylight could reduce electrical energy in this building by up to 76% compared to the initial condition where fully lighting was supplied. Window orientation would also play an important role. Moreover, heat gain through windows due to daylighting can be controlled by overhangs and the appropriate Window-to-Wall ratio that would be about 30% for this building. An experimental study was also carried out to validate the results in a selected room. About 49% and 37% of Relative Root Mean Square Error (RRMSE were observed in light and heat measurements, respectively

  12. Optimisation of thermal comfort in existing buildings; Optimierung der thermischen Behaglichkeit im Bestand

    Energy Technology Data Exchange (ETDEWEB)

    Peters, Reinhard; Zerwas, Martin; Kempen, Thomas; Krause, Hans Juergen [Kempen Krause Ingenieurgesellschaft bR, Aachen (Germany)

    2010-10-15

    In the modern world people are used to being able to adjust the interior climate, for example with individual settings for car drivers and passengers. The situation is more difficult in buildings which normally only have a heating system without provision for cooling. In moderate climates air-conditioning systems are an exception, although they are becoming increasingly popular. If several people come together in a room, it is impossible to adjust the conditions to the satisfaction of all occupants. The key is to keep the ratio of dissatisfied users to a minimum. This paper examines the reasons for complaints in two open-plan offices and offers suggestions for improvements. [German] In der modernen Welt ist der Mensch es z. B. vom Auto her gewohnt, das Innenraumklima selbst einzustellen, und zwar individuell fuer Fahrer und Beifahrer. Schwieriger wird dies in unseren Gebaeuden, die im Normalfall nur beheizt werden koennen. Fuer den Sommer ist die Klimaanlage eine Ausnahme, auch wenn die Verbreitung immer weiter voranschreitet. Kommen mehrere Personen in einem Raum zusammen, ist ein individuelles Wohlfuehlklima nicht moeglich. Hier kommt es darauf an, den Anteil der unzufriedenen Nutzer moeglichst gering zu halten. Im nachfolgenden Beitrag werden die Ursachen fuer die Beschwerden zweier Grossraumbueros untersucht und Vorschlaege zur Verbesserung vorgestellt. (Abstract Copyright [2010], Wiley Periodicals, Inc.)

  13. Impact of Furniture Layout on Indoor Daylighting Performance in Existing Residential Buildings in Malaysia

    Directory of Open Access Journals (Sweden)

    Seyed Mohammad Mousavi

    2018-06-01

    Full Text Available Currently, home-based computing workspaces have developed substantially all over the world, especially in Malaysia. This growing trend attracts computer workers to run a business from their residential units. Hence, visual comfort needs to be considered in addition to thermal comfort for home workers in their residential working rooms. While such rooms are always occupied with furniture, the layout of the furniture may influence the indoor daylighting distribution. Several various furniture layouts can be arranged in a residential working room. However, to have better generalisation, this study focused on the impacts of mostly-used-furniture-layouts (MUFLs on indoor daylighting performance in residential working rooms. The field measurement was conducted in a typically furnished room under a tropical sky to validate the results of the simulation software under different sky conditions. Then, daylight ratio (DR, as a quantitative daylighting variable, and the illuminance uniformity ratio (IUR, CIE glare index (CGI, and Guth visual comfort probability (GVCP, as qualitative daylighting variables, were analysed through simulation experiments. In conclusion, by changing the furniture layout, daylight uniformity recorded the highest fluctuations in the case room among all variables. While various furniture layouts, in a residential working room in the tropics, may even slightly reduce the extreme indoor daylight quantity, they can worsen the indoor daylight quality compared to an unfurnished space. The paper shows that furniture as an interior design parameter cannot help to improve tropical daylighting performance in a building.

  14. Existence and control of Legionella bacteria in building water systems: A review.

    Science.gov (United States)

    Springston, John P; Yocavitch, Liana

    2017-02-01

    Legionellae are waterborne bacteria which are capable of causing potentially fatal Legionnaires' disease (LD), as well as Pontiac Fever. Public concern about Legionella exploded following the 1976 outbreak at the American Legion conference in Philadelphia, where 221 attendees contracted pneumonia and 34 died. Since that time, a variety of different control methods and strategies have been developed and implemented in an effort to eradicate Legionella from building water systems. Despite these efforts, the incidence of LD has been steadily increasing in the U.S. for more than a decade. Public health and occupational hygiene professionals have maintained an active debate regarding best practices for management and control of Legionella. Professional opinion remains divided with respect to the relative merits of performing routine sampling for Legionella, vs. the passive, reactive approach that has been largely embraced by public health officials and facility owners. Given the potential risks and ramifications associated with waiting to assess systems for Legionella until after disease has been identified and confirmed, a proactive approach of periodic testing for Legionella, along with proper water treatment, is the best approach to avoiding large-scale disease outbreaks.

  15. Study on the Application of Cool Paintings for the Passive Cooling of Existing Buildings in Mediterranean Climates

    Directory of Open Access Journals (Sweden)

    V. Costanzo

    2013-01-01

    Full Text Available Building roofs play a very important role in the energy balance of buildings, especially in summer, when they are hit by a rather high solar irradiance. Depending on the type of finishing layer, roofs can absorb a great amount of heat and reach quite high temperatures on their outermost surface, which determines significant room overheating. However, the use of highly reflectivecool materials can help to maintain low outer surface temperatures; this practice may improve indoor thermal comfort and reduce the cooling energy need during the hot season. This technology is currently well known and widely used in the USA, whilereceiving increasing attention in Europe. In order to investigate the effectiveness of cool roofs as a passive strategy for passive cooling in moderately hot climates, this paper presents the numerical results of a case study based on the dynamic thermal analysis of an existing office building in Catania (southern Italy, Mediterranean area. The results show how the application of a cool paint on the roof can enhance the thermal comfort of the occupants by reducing the operative temperatures of the rooms and to reduce the overall energy needs of the building for space heating and cooling.

  16. Energy conservation in rented buildings

    Energy Technology Data Exchange (ETDEWEB)

    Klingberg, T.; Broechner, J.; Forsman, J.; Gaunt, L.; Holgersson, M.

    1984-08-01

    The bulletin is an anthology of nine essays by different authors addressing the issue of energy conservation in buildings, where there exists a landlord/tenant relationship. After an overview of the rental market and the stock of rental buildings different types of rental contracts and energy charges are described.

  17. Modeling In-Use Steel Stock in China’s Buildings and Civil Engineering Infrastructure Using Time-Series of DMSP/OLS Nighttime Lights

    Directory of Open Access Journals (Sweden)

    Hanwei Liang

    2014-05-01

    Full Text Available China’s rapid urbanization has led to increasing steel consumption for buildings and civil engineering infrastructure. The in-use steel stock in the same is considered to be closely related to social welfare and urban metabolism. Traditional approaches for determining the in-use steel stock are labor-intensive and time-consuming processes and always hindered by the availability of statistical data. To address this issue, this study proposed the use of long-term nighttime lights as a proxy to effectively estimate in-use steel stock for buildings (IUSSB and civil engineering infrastructure (IUSSCE at the provincial level in China. Significant relationships between nighttime lights versus IUSSB and IUSSCE were observed for provincial variables in a single year, as well as for time series variables of a single province. However, these relationships were found to differ among provinces (referred to as “inter-individual differences” and with time (referred to as “temporal differences”. Panel regression models were therefore proposed to estimate IUSSB and IUSSCE in consideration of the temporal and inter-individual differences based on a dataset covering 1992–2007. These models were validated using data for 2008, and the results showed good estimation for both IUSSB and IUSSCE. The proposed approach can be used to easily monitor the dynamic of IUSSB and IUSSCE in China. This should be critical in providing valuable information for policy making regarding regional development of buildings and infrastructure, sustainable urban resource management, and cross-boundary material recycling.

  18. Trading network predicts stock price.

    Science.gov (United States)

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi

    2014-01-16

    Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices.

  19. Future Premature Mortality Due to O3, Secondary Inorganic Aerosols and Primary PM in Europe — Sensitivity to Changes in Climate, Anthropogenic Emissions, Population and Building Stock

    Science.gov (United States)

    Geels, Camilla; Andersson, Camilla; Hänninen, Otto; Lansø, Anne Sofie; Schwarze, Per E.; Ambelas Skjøth, Carsten; Brandt, Jørgen

    2015-01-01

    Air pollution is an important environmental factor associated with health impacts in Europe and considerable resources are used to reduce exposure to air pollution through emission reductions. These reductions will have non-linear effects on exposure due, e.g., to interactions between climate and atmospheric chemistry. By using an integrated assessment model, we quantify the effect of changes in climate, emissions and population demography on exposure and health impacts in Europe. The sensitivity to the changes is assessed by investigating the differences between the decades 2000–2009, 2050–2059 and 2080–2089. We focus on the number of premature deaths related to atmospheric ozone, Secondary Inorganic Aerosols and primary PM. For the Nordic region we furthermore include a projection on how population exposure might develop due to changes in building stock with increased energy efficiency. Reductions in emissions cause a large significant decrease in mortality, while climate effects on chemistry and emissions only affects premature mortality by a few percent. Changes in population demography lead to a larger relative increase in chronic mortality than the relative increase in population. Finally, the projected changes in building stock and infiltration rates in the Nordic indicate that this factor may be very important for assessments of population exposure in the future. PMID:25749320

  20. Future Premature Mortality Due to O3, Secondary Inorganic Aerosols and Primary PM in Europe — Sensitivity to Changes in Climate, Anthropogenic Emissions, Population and Building Stock

    Directory of Open Access Journals (Sweden)

    Camilla Geels

    2015-03-01

    Full Text Available Air pollution is an important environmental factor associated with health impacts in Europe and considerable resources are used to reduce exposure to air pollution through emission reductions. These reductions will have non-linear effects on exposure due, e.g., to interactions between climate and atmospheric chemistry. By using an integrated assessment model, we quantify the effect of changes in climate, emissions and population demography on exposure and health impacts in Europe. The sensitivity to the changes is assessed by investigating the differences between the decades 2000–2009, 2050–2059 and 2080–2089. We focus on the number of premature deaths related to atmospheric ozone, Secondary Inorganic Aerosols and primary PM. For the Nordic region we furthermore include a projection on how population exposure might develop due to changes in building stock with increased energy efficiency. Reductions in emissions cause a large significant decrease in mortality, while climate effects on chemistry and emissions only affects premature mortality by a few percent. Changes in population demography lead to a larger relative increase in chronic mortality than the relative increase in population. Finally, the projected changes in building stock and infiltration rates in the Nordic indicate that this factor may be very important for assessments of population exposure in the future.

  1. Global socioeconomic material stocks rise 23-fold over the 20th century and require half of annual resource use.

    Science.gov (United States)

    Krausmann, Fridolin; Wiedenhofer, Dominik; Lauk, Christian; Haas, Willi; Tanikawa, Hiroki; Fishman, Tomer; Miatto, Alessio; Schandl, Heinz; Haberl, Helmut

    2017-02-21

    Human-made material stocks accumulating in buildings, infrastructure, and machinery play a crucial but underappreciated role in shaping the use of material and energy resources. Building, maintaining, and in particular operating in-use stocks of materials require raw materials and energy. Material stocks create long-term path-dependencies because of their longevity. Fostering a transition toward environmentally sustainable patterns of resource use requires a more complete understanding of stock-flow relations. Here we show that about half of all materials extracted globally by humans each year are used to build up or renew in-use stocks of materials. Based on a dynamic stock-flow model, we analyze stocks, inflows, and outflows of all materials and their relation to economic growth, energy use, and CO2 emissions from 1900 to 2010. Over this period, global material stocks increased 23-fold, reaching 792 Pg (±5%) in 2010. Despite efforts to improve recycling rates, continuous stock growth precludes closing material loops; recycling still only contributes 12% of inflows to stocks. Stocks are likely to continue to grow, driven by large infrastructure and building requirements in emerging economies. A convergence of material stocks at the level of industrial countries would lead to a fourfold increase in global stocks, and CO2 emissions exceeding climate change goals. Reducing expected future increases of material and energy demand and greenhouse gas emissions will require decoupling of services from the stocks and flows of materials through, for example, more intensive utilization of existing stocks, longer service lifetimes, and more efficient design.

  2. Recommendations for enforcing and administering lighting-efficiency standards in existing public buildings in New York State. Final report

    Energy Technology Data Exchange (ETDEWEB)

    None

    1977-09-30

    To determine the most efficient, cost-effective means of enforcing lighting standards in existing public buildings, various enforcement procedures were investigated. A summary of conclusions and recommendations are presented. In Chapter 1, the adoption of a modified version of the sections of the proposed ASHRAE 100 standards that relate to lighting is recommended. The basic features of the proposed ASHRAE 100 standards are described and compared with those of other types of standards, and the modifications recommended to facilitate implementation are then presented. In Chapter 2, the structure is outlined and the details are provided of the enforcement strategy devised based on self-certification and penalties for noncompliance. Chapter 3 is intended to guide the state in implementing that strategy; it is suggested that the State Energy Office begin to conduct inspections of buildings selected first randomly and then according to a specific discriminant-analysis scheme. The timetable that should be followed and the management responsibilities that should be assigned if the state is to meet its 1980 goals related to saving energy through the implementation of lighting-efficiency standards are delineated in Chapter 4. The appendixes provide additional information and data supporting the specific conclusions and recommendations presented throughout the text. (MCW)

  3. Building Energy Simulation Test for Existing Homes (BESTEST-EX): Instructions for Implementing the Test Procedure, Calibration Test Reference Results, and Example Acceptance-Range Criteria

    Energy Technology Data Exchange (ETDEWEB)

    Judkoff, R.; Polly, B.; Bianchi, M.; Neymark, J.; Kennedy, M.

    2011-08-01

    This publication summarizes building energy simulation test for existing homes (BESTEST-EX): instructions for implementing the test procedure, calibration tests reference results, and example acceptance-range criteria.

  4. Sustainable Building Operation

    DEFF Research Database (Denmark)

    Jensen, Jesper Ole

    2009-01-01

    Energy-savings in the existing building stock have becomes a main goal in national and international policies. Often focus is on building-renovations, whereas the potential of sustainable building operation to a large extent has been neglected. Nevertheless, international research as well...... as practical experiences from Danish housing estates indicates that there are large potentials for energy savings by focusing on the operation of the buildings. We suggest that in order to achieve sustainability in the existing housing, renovation and operations should be seen as integrated parts...... and that sustainable building operation can pave the way for sustainable building renovation. This paper discusses the use of sustainability building operation in Danish housing estates: Which tools, methods and technologies is being used, where are the barriers and where are the potentials? We define sustainable...

  5. Proposed Assessment of Dynamic Resistance of the Existing Industrial Portal Frame Building Structures to the Impact of Mining Tremors

    Science.gov (United States)

    Rusek, Janusz; Kocot, Wojciech

    2017-10-01

    The article presents the method for assessing dynamic resistance of the existing industrial portal frame building structures subjected to mining tremors. The study was performed on two industrial halls of a reinforced concrete structure and a steel structure. In order to determine the dynamic resistances of these objects, static and dynamic numerical analysis in the FEA environment was carried out. The scope of numerical calculations was adapted to the guidelines contained in the former and current design standards. This allowed to formulate the criteria, on the basis of which the maximum permissible value of the horizontal ground acceleration was obtained, constituting resistance of the analyzed objects. The permissible range of structural behaviour was determined by comparing the effects of load combinations adopted at the design stage with a seismic combination recognized in Eurocode 8. The response spectrum method was used in the field of dynamic analysis, taking into account the guidelines contained in Eurocode 8 and the guidelines of National. Finally, in accordance with the established procedure, calculations were carried out and the results for the two model portal frame buildings of reinforced concrete and steel structures were presented. The results allowed for the comparison of the dynamic resistance of two different types of material and design, and a sensitivity analysis with respect to their constituent bearing elements. The conclusions drawn from these analyses helped to formulate the thesis for the next stage of the research, in which it is expected to analyze a greater number of objects using a parametric approach, in relation to the geometry and material properties.

  6. Strategic stock management task for building corporations. Energy as part of the house quality; Strategisch voorraadbeheer taak woningcorporaties. Energie als onderdeel van de woonkwaliteit

    Energy Technology Data Exchange (ETDEWEB)

    Burdorf, E. [DWA installatie en energieadvies, Bodegraven (Netherlands)

    2006-03-15

    From a strategic stock management perspective building corporations should have a vision on what is important for future target groups: young or old, families or singles, income, etc. Those aspects have a great impact on the level of facilities and provisions in houses and the possibility to adjust houses by applying domotics, comfort cooling, care facilities, the use of renewable energy systems. [Dutch] Vanuit het strategisch voorraadbeheer van woningcorporaties is een visie op de toekomstige doelgroepen van belang. Vindt er een verschuiving plaats van jong naar oud? Gezinnen of juist alleenstaanden? Welke inkomensgroepen worden bediend? Dergelijke vragen hebben grote invloed op het voorzieningenniveau in de woningen. Flexibiliteit inbouwen door woningen gemakkelijk aanpasbaar te maken voor domotica, comfortkoeling, zorgfuncties, en met oog voor de opties voor duurzame energie. Want met de huidige stijgende energieprijzen kunnen de energielasten stijgen tot 40 procent van de woonkosten. Dat vraagt aandacht voor de post energie.

  7. Stock prices and business investment

    OpenAIRE

    Yaron Leitner

    2007-01-01

    Is there a link between the stock market and business investment? Empirical evidence indicates that there is. A firm tends to invest more when its stock price increases, and it tends to invest less when the price falls. In “Stock Prices and Business Investment,” Yaron Leitner discusses existing research that explains this relationship. One question under consideration is whether the stock market actually improves investment decisions.

  8. What Drives Stock Exchange Integration?

    National Research Council Canada - National Science Library

    Ekaterina Dorodnykh

    2013-01-01

    .... After a broad discussion of the existent literature, the investigation combines a large number of potentially relevant determinants for the explanation of whether stock exchanges are participating...

  9. Insulating correctly. Manual for up-to-date construction in existing buildings; Richtig daemmen. Handbuch fuer zeitgemaesses Bauen im Bestand

    Energy Technology Data Exchange (ETDEWEB)

    Gaenssmantel, Juergen; Geburtig, Gerd

    2008-07-01

    The authors show clearly what have to be taken into account during modernization or retrofitting of an existing building or during new construction an optimal planning according to energetic points of view. Content: selection of a suitable insulation materials; airtightness and thermography; overview on insulating materials; selection of manufacturers and correct contracts; ventilation by heat recovery. (GL) [German] Die beiden Autoren zeigen auf, welche Beobachtungen und Ueberlegungen anzustellen sind, bevor ein Daemmstoff in die Hand genommen wird. Das Buch hilft dem Praktiker die verschiedenen Gegebenheiten, Anforderungen und Materialien zu beurteilen. Dazu werden auch grundlegende bauphysikalische Kenntnisse vermittelt, wie sie heute fuer jeden auf einer Baustelle verantwortlich Taetigen unerlaesslich sind. Diskutiert werden neben den Moeglichkeiten auch die Grenzen des Daemmens. Die zahlreiche Uebersichten und Checklisten erhoehen den praktischen Nutzen dieses Buches. Bei konkreten Bauvorhaben helfen sie, aus dem Buendel von Anforderungen, Gebaeudedaten und Beobachtungen zu einem Urteil zu kommen. Das Buch bietet Entscheidungshilfen und Antworten zu den Fragen: - Wo lohnt es sich nachtraeglich zu daemmen? - Wie waehlt man den geeigneten Daemmstoff aus? - Welche Checklisten kann man bei der Auswahl anwenden? - Warum haben auch energetische Nachruestungen ihre Grenzen? - Weshalb muessen bauphysikalische 'Spielregeln' beachtet werden? Ein umfangreicher Adressteil mit den Angaben zu den Herstellern von Waermedaemm-Verbundsystemen, Daemmputzen und Daemmstoffen ergaenzt das Werk. Das Buch wendet sich in erster Linie an die Fachunternehmer und Handwerker, die im Bereich des Bauens im Bestand taetig sind, darueber hinaus auch an Energieberater und Planer. (orig.)

  10. Thermal Transmission through Existing Building Enclosures: Destructive Monitoring in Intermediate Layers versus Non-Destructive Monitoring with Sensors on Surfaces.

    Science.gov (United States)

    Echarri, Víctor; Espinosa, Almudena; Rizo, Carlos

    2017-12-08

    Opaque enclosures of buildings play an essential role in the level of comfort experienced indoors and annual energy demand. The impact of solar radiation and thermal inertia of the materials that make up the multi-layer enclosures substantially modify thermal transmittance behaviour of the enclosures. This dynamic form of heat transfer, additionally affected by indoor HVAC systems, has a substantial effect on the parameters that define comfort. It also has an impact on energy demand within a daily cycle as well as throughout a one-year use cycle. This study describes the destructive monitoring of an existing block of flats located in Alicante. Once the enclosure was opened, sensors of temperature (PT100), air velocity, and relative humidity were located in the different layers of the enclosure, as well as in the interior and exterior surfaces. A pyranometer was also installed to measure solar radiation levels. A temperature data correction algorithm was drawn up to address irregularities produced in the enclosure. The algorithm was applied using a Raspberry Pi processor in the data collection system. The comparative results of temperature gradients versus non-destructive monitoring systems are presented, providing measures of the transmittance value, surface temperatures and indoor and outdoor air temperatures. This remote sensing system can be used in future studies to quantify and compare the energy savings of different enclosure construction solutions.

  11. Thermal Transmission through Existing Building Enclosures: Destructive Monitoring in Intermediate Layers versus Non-Destructive Monitoring with Sensors on Surfaces

    Directory of Open Access Journals (Sweden)

    Víctor Echarri

    2017-12-01

    Full Text Available Opaque enclosures of buildings play an essential role in the level of comfort experienced indoors and annual energy demand. The impact of solar radiation and thermal inertia of the materials that make up the multi-layer enclosures substantially modify thermal transmittance behaviour of the enclosures. This dynamic form of heat transfer, additionally affected by indoor HVAC systems, has a substantial effect on the parameters that define comfort. It also has an impact on energy demand within a daily cycle as well as throughout a one-year use cycle. This study describes the destructive monitoring of an existing block of flats located in Alicante. Once the enclosure was opened, sensors of temperature (PT100, air velocity, and relative humidity were located in the different layers of the enclosure, as well as in the interior and exterior surfaces. A pyranometer was also installed to measure solar radiation levels. A temperature data correction algorithm was drawn up to address irregularities produced in the enclosure. The algorithm was applied using a Raspberry Pi processor in the data collection system. The comparative results of temperature gradients versus non-destructive monitoring systems are presented, providing measures of the transmittance value, surface temperatures and indoor and outdoor air temperatures. This remote sensing system can be used in future studies to quantify and compare the energy savings of different enclosure construction solutions.

  12. Value Investing in the Stock Market of Thailand

    Directory of Open Access Journals (Sweden)

    Gerardo “Gerry” Alfonso Perez

    2017-11-01

    Full Text Available Value investment and growth investment have attracted a large amount of research in recent decades, but most of this research focuses on the U.S. and Europe. This article covers the Thai stock market which has very different characteristics compared to western markets and even South East Asian countries such as Indonesia or Malaysia. Among South East Asian countries, Thailand has one of the most dynamic capital markets. In order to see if some well-known trends in other markets exist in Thailand the performance of value and growth stocks in the Thai market were analyzed for a period of 17 years using existing style indexes (MSCI as well as creating portfolios using individual stocks. For this entire period, when using the indexes, returns are statistically significant superior for value stocks compared to growth stocks. However, when analyzing the performance of the market in any given calendar year from 1999 to 2016, the results are much more mixed with in fact growth stocks outperforming in several of those years. Interestingly, when building portfolios using criteria such as low P/E or low P/B the results are not statistically different. Suggesting perhaps that the classification into value or growth stocks is more complex than it would appear. One of the common assumptions of value investing is that those stocks outperform over long periods of time. It might well be that in the Thai case one year is not a long enough period for value stocks to outperform. While there have been some clear efforts over recent years to modernize the stock market of Thailand, it remains relatively underdeveloped, particularly when compared to markets such as the U.S. Hence, its behavior regarding value versus growth investment might be rather different.

  13. Stock Status

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — These data inform the public of the most recent stock status for all stocks (FSSI and non-FSSI) in the fishery management unit contained in a fishery managment plan....

  14. Optimized thermal insulation in existing communal buildings. Energy agency Schleswig-Holstein; Optimierter Waermeschutz im kommunalen Gebaeudebestand. Energieagentur Schleswig-Holstein

    Energy Technology Data Exchange (ETDEWEB)

    Zink, J.; Eimannsberger, H.

    2004-01-15

    This guide may encourage ecologically and economically investment decisions to modernize and retrofit existing buildings. Examples in practice and recommendations deviated from long-time experience of the energy consulting sector should realize energy saving and cost lowering. In special the coupling of an optimized heat engineering and necessary sanitation of building surfaces should result in an economical process during the construction and installation measures. (GL)

  15. Mycotoxins in building materials

    DEFF Research Database (Denmark)

    Nielsen, Kristian Fog; Frisvad, Jens Christian

    2011-01-01

    as in future energy efficient buildings. It brings together different disciplinary points of view on indoor mold, ranging from physics and material science to microbiology and health sciences. The contents have been outlined according to three main issues: Fundamentals, particularly addressing the crucial...... for avoiding adverse health effects is the prevention (or minimization) of persistent dampness and microbial growth on interior surfaces and in building structures. This book aims to describe the fundamentals of indoor mold growth as a prerequisite to tackle mold growth in the existing building stock as well...

  16. Oak Ridge National Laboratory remedial investigation/feasibility study: Building 3515 existing conditions exterior elevations [Engineering Materials

    Energy Technology Data Exchange (ETDEWEB)

    1994-09-01

    Building 3515 at Oak Ridge National Laboratory (ORNL), also known as the Fission Product Pilot Plant, is a surplus facility in the main plant area to the east of the South Tank Farm slated for decontamination -and decommissioning (D&D). The building consists of two concrete cells (north and south) on a concrete pad and was used to extract radioisotopes of ruthenium, strontium, cesium, cerium, rhenium and other elements from aqueous fission product waste. Site characterization activities of the building were initiated. The objective of the site characterization was to provide information necessary for engineering evaluation and planning of D&D approaches, planning for personal protection of D&D workers, and estimating waste volumes from D&D activities. This site characterization report documents the investigation with a site description, a summary of characterization methods, chemical and radiological sample analysis results, field measurement results, and waste volume estimates. This reference contains only drawings of the 3515 building.

  17. Life-cycle costs and impacts on energy-related building renovation assessments

    OpenAIRE

    Almeida, Manuela Guedes de; Mateus, Ricardo; Ferreira, Marco António Pedrosa Santos; Rodrigues, Ana

    2017-01-01

    "Published online: 15 Jun 2017" Many regulations and initiatives to promote the reduction of the energy consumption and carbon emissions have been implemented in the building sector. However, they are mostly targeted for new buildings. In order to reach the goals that are being established, it is necessary to act in new but especially in the existing buildings, which correspond to the majority of the European building stock. Building renovation improves the buildings? energy performance, r...

  18. Preliminary study of the influence of different modelling choices and materials properties uncertainties on the seismic assessment of an existing RC school building

    Science.gov (United States)

    Maracchini, Gianluca; Clementi, Francesco; Quagliarini, Enrico; Lenci, Stefano; Monni, Francesco

    2017-07-01

    This paper studies the influence of some aleatory and epistemic uncertainties on the seismic behaviour of an existing RC school building through a codified sensitivity analysis that uses pushover analyses and a logic tree approach. The considered epistemic uncertainties, i.e. diaphragm stiffness and modelling of stairs, seem not influencing the final assessment in term of index of seismic risk. Vice versa, aleatory ones, i.e. concrete and steel mechanical properties, strongly affect the Index. For this reason, investigations and tests should focus on the study of the mechanical properties, and, in particular, on the study of columns' concrete mechanical properties, which have the largest impact on the building seismic response.

  19. Indoor air quality in mechanically ventilated residential dwellings/low-rise buildings: A review of existing information

    DEFF Research Database (Denmark)

    Aganovic, Amar; Hamon, Mathieu; Kolarik, Jakub

    Mechanical ventilation has become a mandatory requirement in multiple European standards addressing indoor air quality (IAQ) and ventilation in residential dwellings (single family houses and low-rise apartment buildings). This article presents the state of the art study through a review of the e......Mechanical ventilation has become a mandatory requirement in multiple European standards addressing indoor air quality (IAQ) and ventilation in residential dwellings (single family houses and low-rise apartment buildings). This article presents the state of the art study through a review...... concentrations. The authors additionally noted that the literature frequently reported the role of improper maintenance and use on deterioration of IAQ in residential dwellings. The summarized data and comments may provide useful information for future guidelines related to ventilation strategies designed...

  20. The Value of Energy Performance and Green Attributes in Buildings: A Review of Existing Literature and Recommendations for Future Research

    Energy Technology Data Exchange (ETDEWEB)

    Stuart, Elizabeth

    2011-09-07

    Labels, certifications, and rating systems for energy efficiency performance and “green” attributes of buildings have been available in the U.S. for over 10 years, and used extensively in the European Union and Australia for longer. Such certifications and ratings can make energy efficiency more visible, and could help spur demand for energy efficiency if these designations are shown to have a positive impact on sales or rental prices. This policy brief discusses the findings and methodologies from recent studies on this topic, and suggests recommendations for future research. Although there have been just a handful of studies within the last 10 years that have investigated these effects, a few key findings emerge: To maximize sales price impact, label or rating information must be disclosed early and visibly in the sales process; The approach to evaluating energy efficiency labels (e.g., ENERGY STAR) and general “green” certifications (e.g., LEED or GreenPoint Rated) may need to be different, depending on the type, vintage and market penetration of the label; Collaborative efforts to promote label adoption and build a large dataset of labeled buildings will be required to produce reliable study results.

  1. Stock Exchange

    Science.gov (United States)

    Silverman, Jerry Stuart

    1974-01-01

    Using play money, students buy and sell six types of stock certificates at prices determined periodically by tossing three dice; all students participate as investors, brokers, or banker. In addition to gaining practice on computational skills in a motivational game, students study the real stock market concurrently. (SD)

  2. Estimating uncertainty of data limited stock assessments

    DEFF Research Database (Denmark)

    Kokkalis, Alexandros; Eikeset, Anne Maria; Thygesen, Uffe Høgsbro

    2017-01-01

    Many methods exist to assess the fishing status of data-limited stocks; however, little is known about the accuracy or the uncertainty of such assessments. Here we evaluate a new size-based data-limited stock assessment method by applying it to well-assessed, data-rich fish stocks treated as data......-limited. Particular emphasis is put on providing uncertainty estimates of the data-limited assessment. We assess four cod stocks in the North-East Atlantic and compare our estimates of stock status (F/Fmsy) with the official assessments. The estimated stock status of all four cod stocks followed the established stock...... assessments remarkably well and the official assessments fell well within the uncertainty bounds. The estimation of spawning stock biomass followed the same trends as the official assessment, but not the same levels. We conclude that the data-limited assessment method can be used for stock assessment...

  3. Business case study for the zero energy refurbishment of commercial buildings

    NARCIS (Netherlands)

    Greco, A.; Konstantinou, T.; Schipper, H.R.; Binnekamp, R.; Gerritsen, E.; de Graaf, R.P.; van den Dobbelsteen, A.A.J.F.; Habert, Guillaume; Schlueter, Arno

    2016-01-01

    Net zero energy is already an ambitious target for several buildings, especially since the DIRECTIVE 2010/31/EU that requires increasing the number of nearly zero energy buildings. The existing commercial building stock needs to be included in order to achieve the 2020 EU environmental targets. The

  4. Building America Case Study: Calculating Design Heating Loads for Superinsulated Buildings, Ithaca, New York; Technology Solutions for New and Existing Homes, Energy Efficiency & Renewable Energy (EERE)

    Energy Technology Data Exchange (ETDEWEB)

    None

    2015-08-01

    Designing a superinsulated home has many benefits including improved comfort, reduced exterior noise penetration, lower energy bills, and the ability to withstand power and fuel outages under much more comfortable conditions than a typical home. Extremely low heating and cooling loads equate to much smaller HVAC equipment than conventionally required. Sizing the mechanical system to these much lower loads reduces first costs and the size of the distribution system needed. While these homes aren't necessarily constructed with excessive mass in the form of concrete floors and walls, the amount of insulation and the increase in the thickness of the building envelope can lead to a mass effect, resulting in the structures ability to store much more heat than a code built home. This results in a very low thermal inertia making the building much less sensitive to drastic temperature swings thereby decreasing the peak heating load demand. Alternative methods that take this inertia into account along with solar and internal gains result in smaller more appropriate design loads than those calculated using Manual J version 8. During the winter of 2013/2014, CARB monitored the energy use of three homes in climate zone 6 in an attempt to evaluate the accuracy of two different mechanical system sizing methods for low load homes. Based on the results, it is recommended that internal and solar gains be included and some credit for thermal inertia be used in sizing calculations for superinsulated homes.

  5. Legal concepts to eliminate the bottleneck in energy-saving modernisations for existing buildings; Rechtskonzepte zur Beseitigung des Staus energetischer Sanierungen im Gebaeudebestand

    Energy Technology Data Exchange (ETDEWEB)

    Klinski, Stefan [Hochschule fuer Wirtschaft und Recht (HWR), Berlin (Germany)

    2009-10-15

    The research project looked at the following: 1. Whether and to what extent the German tenancy law creates, on the one hand, adequate incentives for energy-saving modernisations of existing buildings, on the one hand, and, on the other, whether it creates legal obstacles. 2. How these obstacles could be eliminated i.e. by changing existing tenancy law and instead creating stimuli for energy-saving modernization of existing rental buildings. The report contents a number of specific recommendations for an energy-related reform of the German tenancy law. Major recommendations are: - to eliminate the current toleration duty for modernisation measures if changes are made to the building that conflict with the duties arising from the energy saving provisions of public law, - to consider energy-saving characteristics in the reference rent customary in the locality, - to create a possibility for imposing a flat-rate surcharge which is linked to the savings in heating costs for energy-saving improvement. (orig.)

  6. Salmon stocks

    National Research Council Canada - National Science Library

    Walters, C; Korman, J

    1999-01-01

    The PFRCC, in this first report, intends to provide a broad species-by-species overview of stock status and trends for BC as a whole, as well as an overview of the relevant fisheries management issues...

  7. Target-oriented obstacle analysis by PESTEL modeling of energy efficiency retrofit for existing residential buildings in China's northern heating region

    Energy Technology Data Exchange (ETDEWEB)

    Shilei, Lv [School of Environment Science and Technology, Tianjin University, Tianjin 300072 (China); Yong, Wu [Department of Science and Technology, Ministry of Housing and Urban-Rural Development of the People' s Republic of China, Beijing 100835 (China)

    2009-06-15

    According to the 'Comprehensive Work Program of Energy Efficiency and Emission Reduction' of the Chinese government, during the period of the '11th Five-Year Plan', 1.5 x 10{sup 8} m{sup 2} of existing residential buildings in China's northern heating region are to be retrofitted for energy efficiency. However, at present, this 'Energy Efficiency Retrofit for Existing Residential Buildings' (EERFERB) faces many obstacles. Under the current working and market system, both the central and local governments and the energy supply companies can not push on this work smoothly. Using both the results of the annual national special inspection of building energy efficiency and some case analyses, this paper examines the necessity for energy efficiency retrofit, along with the relationships among the various Political, Economic, Social, Technological, Environmental and Legal (PESTEL) factors affecting it. Furthermore, organizational, financial and technical support systems are explored to promote the development of retrofit. Finally, some primary principles to be followed toward the implementation of EERFERB are suggested. (author)

  8. Rainy Day Stocks

    DEFF Research Database (Denmark)

    Gormsen, Niels Joachim; Greenwood, Robin

    We study the good- and bad-times performance of equity portfolios formed on characteristics. Many characteristics associated with good performance during bad times—value, profitability, small size, safety, and total volatility—also perform well during good times. Stocks with characteristics signi...... generated during good times. We also show how an investor can build a “rainy day” portfolio that minimizes underperformance during bad times...

  9. TECHNIQUES FOR RECONSTRUCTION OF THE PRESERVED HOUSING STOCK

    Directory of Open Access Journals (Sweden)

    Kustikova Yuliya Olegovna

    2017-10-01

    Full Text Available Nowadays in Russian cities a significant part of the housing stock in areas of existing buildings has a high level of physical and moral deterioration, indicators of infrastructure elements do not meet the current and future requirements. Reconstruction of residential buildings is one of the important directions in solving the housing problem. This will allow us to not only extend the life cycle but also significantly improve the quality of housing, eliminate a communal settlement, provide the houses with modern engineering equipment, improve architectural expressiveness of buildings and increase their energy efficiency. For buildings of different construction periods an individual approach is required in the development of methods and technologies of reconstruction. At the same time, the process should take place not in a separate building but in a group of buildings, neighborhood or district. This makes it possible to undertake a comprehensive assessment of the urban development situation and make the most rational decisions to meet modern conditions, and provide logical connection between various architectural trends. At the same time, there are possibilities for compaction and decompaction of buildings, the rational use of inter-district, underground space and communication systems. Moscow region is a large region, which occupies an area of 46 thousand square kilometers. The region includes more than 38 municipalities (municipal districts, urban and rural settlements. The region’s population is more than 7 million people. Moscow oblast has a central location in the Russian Federation and a close relationship with the capital. This relationship with Moscow is manifested through common social, scientific, industrial, transport links, environmental protection problems, labor resources. In 2016 the total area of the housing stock in Moscow region was about 220 million sq. m. The total area of dilapidated and emergency housing stock is just

  10. Performance Analysis of an Integrated Heat Pump with Air-Conditioning System for the Existing Hospital Building Application

    Directory of Open Access Journals (Sweden)

    Chen-Yu Chiang

    2017-03-01

    Full Text Available In this study, a complete evaluation procedure of energy-saving and efficiency improvement for a large-scale hospital retrofit project has been established and successfully validated in Taiwan. The retrofit scheme, in integrating the alternative hot water system, namely, a water source heat pump (WSHP, with the existing HVAC (Heating, Ventilating, and Air-Conditioning system, enables the capability to meet the cooling and hot water demand simultaneously with a larger safety margin as well as saving energy. In addition, it has been found that the integrated system provides a new source for cooling which can be utilized as a system redundancy in avoiding system shutdown. This is very useful when considering in specific areas in the hospital, such as intensive care unit, or operation rooms, where cooling should not be interrupted on any occasion. In this study, it is validated that the coefficient of performance (COP of the newly added WSHP system, under heating and cooling mode, is 3.62 and 2.62, respectively. The recorded annual cost reduction by this integrated system is $102,564, with a payback of 1.2 years. The hospital after retrofit has been operating safer, with more redundancy, and more energy-efficient which warrants tremendous potential for implementation in the industry.

  11. The contribution of the EC energy certificate in improving sustainability of the housing stock

    OpenAIRE

    Beerepoot, M.; Sunikka, M.

    2005-01-01

    In 2003 the European Commission introduced the EC Directive on the energy performance of buildings in recognition of the importance of energy savings in the urban housing stock. The Directive gives the member states freedom to design the different elements in practice. The energy certificate for existing buildings demanded by the EC Directive can be used as a communicative instrument, or combined with economic or regulatory principles. The authors discuss the anticipated efficiency and effect...

  12. Use of error-detection and diagnosis methods in existing buildings - Final report; Einsatz von Fehlerdetektions- und Diagnosemethoden in realen Gebaeuden (IEA Annex 34) - Schlussbericht

    Energy Technology Data Exchange (ETDEWEB)

    Gruber, P.

    2000-10-15

    This report for the Swiss Federal Office of Energy (SFOE) discusses the results of tests made with two expert systems used for error-detection and diagnosis in existing buildings. These expert systems were developed within the framework of the International Energy Agency's (IEA) Annex 25 Project entitled 'Real Time Simulation of Heating, Ventilation and Air-conditioning (HVAC) Systems for Building Optimisation, Fault Detection and Diagnosis'. The aim of using these tools was to help detect planning, installation and commissioning errors. These cannot only affect system performance but also can cause increased energy consumption and a reduction of the working life of the system's components. The tests of the tools took place within the framework of the IEA's Annex 34 'Computer-aided Evaluation of HVAC System Performance: the Practical Application of Fault Detection and Diagnosis Techniques in Real Buildings'. Experience gained with the two tools is presented and discussed. The quality of the results and the use of the systems in practice are discussed and commented on. They strongly differ from one tool to the other.

  13. Thermal environmental case study of an existing underfloor air distribution (UFAD) system in a high-rise building in the tropics

    Science.gov (United States)

    Ya, Y. H.; Poh, K. S.

    2015-09-01

    The performance of an existing underfloor air distribution (UFAD) system in a renowned high-rise office tower in Malaysia was studied to identify the root cause issues behind the poor indoor air quality. Occupants are the best thermal sensor. The building was detected with the sick building syndrome (SBS) that causes runny noses, flu-like symptoms, irritated skin, and etc. Long period of exposure to indoor air pollutants may increase the occupant's health risk. The parameters such as the space temperature, relative humidity, air movement, air change, fresh air flow rate, chilled water supply and return are evaluated at three stories that consist of five open offices. A full traverse study was carried out at one of the fresh air duct. A simplified duct flow measurement method using pitot-tubes was developed. The results showed that the diffusers were not effective in creating the swirl effect to the space. Internal heat gain from human and office electrical equipment were not drawn out effectively. Besides, relative humidity has exceeded the recommended level. These issues were caused by the poor maintenance of the building. The energy efficiency strategy of the UFAD system comes from the higher supply air temperature. It may leads to insufficient cooling load for the latent heat gained under improper system performance. Special care and considerations in design, construction and maintenance are needed to ensure the indoor air quality to be maintained. Several improvements were recommended to tackle the existing indoor air quality issues. Solar system was studied as one of the innovative method for retrofitting.

  14. ResStock - Targeting Energy and Cost Savings for U.S. Homes

    Energy Technology Data Exchange (ETDEWEB)

    Wilson, Eric J [National Renewable Energy Laboratory (NREL), Golden, CO (United States)

    2017-09-29

    The ResStock analysis tool is helping states, municipalities, utilities, and manufacturers identify which home upgrades save the most energy and money. Across the country there's a vast diversity in the age, size, construction practices, installed equipment, appliances, and resident behavior of the housing stock, not to mention the range of climates. These variations have hindered the accuracy of predicting savings for existing homes. Researchers at the National Renewable Energy Laboratory (NREL) developed ResStock. It's a versatile tool that takes a new approach to large-scale residential energy analysis by combining: large public and private data sources, statistical sampling, detailed subhourly building simulations, high-performance computing. This combination achieves unprecedented granularity and most importantly - accuracy - in modeling the diversity of the single-family housing stock.

  15. Refurbishment of Residential Buildings : A Design Approach to Energy-Efficiency Upgrades

    NARCIS (Netherlands)

    Konstantinou, T.; Knaack, U.

    Refurbishing the existing building stock is an acknowledged issue in the building industry. Even though awareness has been raised, the design phase of refurbishment projects is often problematic. The decisions taken in the early stages of the design determine the final result; however, the

  16. Proposed and existing passive and inherent safety-related structures, systems, and components (building blocks) for advanced light-water reactors

    Energy Technology Data Exchange (ETDEWEB)

    Forsberg, C.W.; Moses, D.L.; Lewis, E.B.; Gibson, R.; Pearson, R.; Reich, W.J.; Murphy, G.A.; Staunton, R.H.; Kohn, W.E.

    1989-10-01

    A nuclear power plant is composed of many structures, systems, and components (SSCs). Examples include emergency core cooling systems, feedwater systems, and electrical systems. The design of a reactor consists of combining various SSCs (building blocks) into an integrated plant design. A new reactor design is the result of combining old SSCs in new ways or use of new SSCs. This report identifies, describes, and characterizes SSCs with passive and inherent features that can be used to assure safety in light-water reactors. Existing, proposed, and speculative technologies are described. The following approaches were used to identify the technologies: world technical literature searches, world patent searches, and discussions with universities, national laboratories and industrial vendors. 214 refs., 105 figs., 26 tabs.

  17. The greening of existing buildings. The position of heat distribution in several policy areas; Bestaande bouw moet nog sterker vergroenen. Positie van warmtenetten op diverse beleidsterreinen nog zwak

    Energy Technology Data Exchange (ETDEWEB)

    De Jong, K.

    2012-04-15

    The Netherlands will have to take some major steps to realize its sustainability ambitions in eight years' time. With this challenge in mind, the Dutch Stichting Warmtenetwerk organized a symposium on green heat for existing buildings in press centre Nieuwspoort, The Hague on 25 January. The deployment of heat distribution is bringing the targets much closer. [Dutch] Nederland moet nog flinke stappen maken om over acht jaar de voorgenomen duurzaamheidsambities te kunnen halen. Met deze uitdaging in gedachten, werd op 25 januari door de Stichting Warmtenetwerk in perscentrum Nieuwspoort, Den Haag een symposium georganiseerd over groene warmte voor de bestaande bouw. De inzet van warmtenetten brengt de doelen een flink stuk dichterbij.

  18. Constructing in the monument. Respecting the Old and mark the New. Cost-reliable planning during building upon existing structures; Bauen im Denkmal. Altes achten und Neues kenntlich machen. Kostensicher planen beim Bauen im Bestand

    Energy Technology Data Exchange (ETDEWEB)

    Schneider-Sorger, Roswitha [ORCA Software GmbH, Rosenheim (Germany)

    2011-07-01

    The revitalization of historically protected real estate is a passion of the owners - the family Werndl (Rosenheim, Federal Republic of Germany). In the case of the Old spinning mill in the Kolbenmotor near Rosenheim a whole district was arranged new. The highest premise of the planning team Quest Architekten GBR (Rosenheim, Federal Republic of Germany) was to respect and receive the rough charm of the building stock. This also becomes clear considering the two-storey Batteur building of 1862 being a component of the energy centre of the spinning mill. Once cotton was cleaned, now shops and gastronomy are in the ground floor as well as practices and office units in the upper floor.

  19. Which stocks are profitable? A network method to investigate the effects of network structure on stock returns

    Science.gov (United States)

    Chen, Kun; Luo, Peng; Sun, Bianxia; Wang, Huaiqing

    2015-10-01

    According to asset pricing theory, a stock's expected returns are determined by its exposure to systematic risk. In this paper, we propose a new method for analyzing the interaction effects among industries and stocks on stock returns. We construct a complex network based on correlations of abnormal stock returns and use centrality and modularity, two popular measures in social science, to determine the effect of interconnections on industry and stock returns. Supported by previous studies, our findings indicate that a relationship exists between inter-industry closeness and industry returns and between stock centrality and stock returns. The theoretical and practical contributions of these findings are discussed.

  20. Building resilience in urban settlements through conversion adaptation

    NARCIS (Netherlands)

    Wilkinson, S.J.; Remøy, H.T.

    The built environment contributes 40% to total global greenhouse gas emissions and 87% of the buildings we will have in 2050 are already built. If predicted climate changes are correct we need to adapt existing stock sustainably. Reuse is an inherently sustainable option, which reduces the amount of

  1. Building resilience in urban settlements through conversion adaptation

    NARCIS (Netherlands)

    Wilkinson, S.J.; Remøy, H.T.

    2015-01-01

    The built environment contributes 40% to total global greenhouse gas emissions and 87% of the buildings we will have in 2050 are already built. If predicted climate changes are correct we need to adapt existing stock sustainably. Reuse is an inherently sustainable option, which reduces the amount of

  2. Voluntary programmes for building retrofits: opportunities, performance and constraints

    NARCIS (Netherlands)

    van der Heijden, J.

    2015-01-01

    Around the globe governments, businesses and citizens are actively involved in voluntary programmes that seek an improved uptake of retrofits of the existing building stock. A fuzzy set qualitative comparative analysis (fsQCA) is used to understand the opportunities, performance and constraints of

  3. Improvement of the Sustainability of Existing School Buildings According to the Leadership in Energy and Environmental Design (LEED)? Protocol: A Case Study in Italy

    National Research Council Canada - National Science Library

    Giuliano Dall'O'; Elisa Bruni; Angela Panza

    2013-01-01

      School-age students spend much of their time in school buildings. The sustainability of these buildings should be a priority as better comfort with a high indoor air quality contributes to an improvement in the conditions for learning...

  4. Building adaptive capacity for flood proofing in urban areas through synergistic interventions

    NARCIS (Netherlands)

    Veerbeek, W.; Ashley, R.M.; Zevenbergen, C.; Rijke, J.S.; Gersonius, B.

    2010-01-01

    Few, if any urban areas are nowadays built in isolation from existing developments. Therefore, urban expansion and making existing urban areas more sustainable is a contemporary goal. There are major opportunities to do this through the ‘normal’ renewal of urban infrastructure and building stocks

  5. Co-benefits of energy related building renovation: demonstration of their impact on the assessment of energy related building renovation (Annex 56)

    OpenAIRE

    Almeida, Manuela Guedes de; Ferreira, Marco António Pedrosa Santos; Rodrigues, Ana; Höfler, Karl; Maydl, Julia; Venus, David; Sedlák, Jiří; Struhala, Karel; Mørck, Ove Christen; Østergaard, Iben

    2017-01-01

    "Energy in Buildings and Communities Programme, March 2017" The renovation of the existing building stock represents a huge potential in actions to mitigate climate change, not only by the improvement of the overall energy performance of the built environment, but also by the reduction of resource depletion and minimization of waste production related with new construction. Nevertheless, this potential hasn?t been fully explored. Contributing to this, the evaluation of building renovation ...

  6. Development of Numerical Heat Transfer and the Structural Model to Design Slim and Translucent Vacuum Layer Type Insulation Panels to Retrofitting Insulation in Existing Buildings

    Directory of Open Access Journals (Sweden)

    Zhang Yang

    2017-12-01

    Full Text Available The authors develop slim and light-weight vacuum insulation panels (VIPs by producing vacuum layers with spacers and plastic plates. The developed VIPs have the advantages of a low cost and easy installation, thus facilitating retrofitting insulation of existing buildings. In addition, one of the developed VIPs is slim and translucent so it can be easily used for windows in an internal installation. In this paper, the authors first propose a vacuum layer type slim translucent VIP and focus on a reasonable design method. Next, the authors introduce the design process in which the structural design is obtained with element mechanical analysis and a three-dimensional analysis is conducted for the VIP element. In the study, a heat transfer model is used to predict the insulation performance through finite element analysis (FEA. Subsequently, the authors perform an experiment to measure the thermal conductivity in a guarded hot plate apparatus to validate the performance prediction. Finally, case studies are performed to confirm how the different design conditions affect the insulation performance. The optimum design of the vacuum layer type slim and translucent VIP will have a sufficient structural strength to hold and maintain the vacuum layer. The thermal conductivity is approximately 0.007 W / ( m · K , which can effectively improve the insulation performance in applications.

  7. Manual house supply. With renewable energy sources in existing- and new buildings; Handbuch Hausversorgung. Mit alternativen Energien in Alt- und Neubauten

    Energy Technology Data Exchange (ETDEWEB)

    Hoffmann, Reinhard

    2008-07-01

    The book shows clearly what have to be taken into account during modernization or retrofitting of an existing building or during new construction an optimal planning according to energetic points of view. The author gives an overview on different heating systems and show the useful application of solar power or automatic ventilation systems with heat recovery. Content: selection of a suitable heating system; airtightness and thermography; overview on insulating materials; selection of manufacturers and correct contracts; planning and installing of solar-thermic devices for heating and hot water as photovoltaic facilities; saving energy by an intelligent house control system; ventilation by heat recovery. (GL) [German] Altbausanierung und Spartipps ''Waermeverlust'' begrenzen: Waermedaemmung, Bau- und Daemmstoffe im Vergleich. So decken Sie Schwachstellen auf. So wird ein Haus zum Niedrigenergiehaus. Altbaubesitzer koennen kuenftig bis zu 70 % ihrer Heizkosten sparen. Aber auch ein Neubau garantiert nicht zwangslaeufig niedrige Heiz- und Stromkosten. Wenn Sie Energie sparen und die Umwelt nicht unnoetig belasten moechten, koennen erneuerbare Energien auch fuer Ihr Haus- oder Wohneigentum interessant sein. Schoepfen Sie kuenftig die Nutzungsmoeglichkeiten alternativer Energien aus. Bringen Sie Ihren Alt- oder Neubau energietechnisch auf einen zeitgemaessen Stand. Die richtige Wahl des Heizsystems ist abhaengig von der Bausubstanz und den individuellen Vorlieben der Bewohner. Schlechte Daemmung und Belueftung sowie schadhaftes Mauerwerk koennen dazu fuehren, dass ein Haus weit mehr Energie benoetigt, als es dem heutigen Stand der Technik entspricht und sogar Schimmelpilze beguenstigen. Das ist ein finanzielles Fiasko, verbunden mit einem Wohnklima, das die Gesundheit der Bewohner gefaehrdet. Dieses Buch zeigt Ihnen, worauf bei Modernisierungen besonders zu achten ist bzw. wie Sie einen Neubau unter energietechnischen Gesichtspunkten optimal planen

  8. European national strategies to move towards very low energy buildings

    DEFF Research Database (Denmark)

    Wittchen, Kim Bjarne; Thomsen, Kirsten Engelund

    of official subsidies or via private investment organisations. Another possibility is lower taxes for low energy buildings or the introduction of CO2 taxes. Furthermore mandatory certification schemes are expected to promote very low energy buildings by introduction of grades restricted to buildings with very....... A strategy for improved energy efficiency of existing buildings is a necessity if the energy consumption is to be reduced significantly over a limited period of time. The life time of buildings ranges from 50 to 100 years and improvement of the existing building stock will thus have much higher impact than...... is an effective instrument to achieve highly energy efficient buildings, as well as a valuable tool and guideline for the construction sector....

  9. Energy conservation in large buildings

    Science.gov (United States)

    Rosenfeld, A.; Hafemeister, D.

    1985-11-01

    As energy prices rise, newly energy aware designers use better tools and technology to create energy efficient buildings. Thus the U.S. office stock (average age 20 years) uses 250 kBTU/ft2 of resource energy, but the guzzler of 1972 uses 500 (up×2), and the 1986 ASHRAE standards call for 100-125 (less than 25% of their 1972 ancestors). Surprisingly, the first real cost of these efficient buildings has not risen since 1972. Scaling laws are used to calculate heat gains and losses of buildings to obtain the ΔT(free) which can be as large as 15-30 °C (30-60 °F) for large buildings. The net thermal demand and thermal time constants are determined for the Swedish Thermodeck buildings which need essentially no heat in the winter and no chillers in summer. The BECA and other data bases for large buildings are discussed. Off-peak cooling for large buildings is analyzed in terms of saving peak-electrical power. By downsizing chillers and using cheaper, off-peak power, cost-effective thermal storage in new commercial buildings can reduce U.S. peak power demands by 10-20 GW in 15 years. A further potential of about 40 GW is available from adopting partial thermal storage and more efficient air conditioners in existing buildings.

  10. Energy in buildings: Efficiency, renewables and storage

    Science.gov (United States)

    Koebel, Matthias M.

    2017-07-01

    This lecture summary provides a short but comprehensive overview on the "energy and buildings" topic. Buildings account for roughly 40% of the global energy demands. Thus, an increased adoption of existing and upcoming materials and solutions for the building sector represents an enormous potential to reduce building related energy demands and greenhouse gas emissions. The central question is how the building envelope (insulation, fenestration, construction style, solar control) affects building energy demands. Compared to conventional insulation materials, superinsulation materials such as vacuum insulation panels and silica aerogel achieve the same thermal performance with significantly thinner insulation layers. With low-emissivity coatings and appropriate filler gasses, double and triple glazing reduce thermal losses by up to an order of magnitude compared to old single pane windows, while vacuum insulation and aerogel filled glazing could reduce these even further. Electrochromic and other switchable glazing solutions maximize solar gains during wintertime and minimize illumination demands whilst avoiding overheating in summer. Upon integration of renewable energy systems into the building energy supply, buildings can become both producers and consumers of energy. Combined with dynamic user behavior, temporal variations in the production of renewable energy require appropriate storage solutions, both thermal and electrical, and the integration of buildings into smart grids and energy district networks. The combination of these measures allows a reduction of the existing building stock by roughly a factor of three —a promising, but cost intensive way, to prepare our buildings for the energy turnaround.

  11. Characterizing the role of built environment stocks in human development and emission growth

    DEFF Research Database (Denmark)

    Lin, Chen; Liu, Gang; Müller, Daniel B.

    2017-01-01

    The built environment stocks such as buildings and infrastructures are key to human development: they provide the fundamental physical settings that the provision of basic human needs such as food, shelter, and transport rely on, but also contribute to anthropogenic greenhouse gas (GHG) emissions...... throughout their construction, operation, and end-of-life management phases. These stocks usually exist in societies for relatively long time, from years to over a century, therefore their dynamics have long term impacts on human development and emission growth. Several recent studies, including the Fifth...... Assessment Report of the Intergovernmental Panel on Climate Change (IPCC), have discussed the lock-in effects of infrastructure stocks on emission pathways. However, there is still a lack of quantitative analysis and evidence to support this claim. Here, based on an empirical regression model and a new...

  12. Framework of stock-recovery strategies: analyses of factors affecting success and failure

    DEFF Research Database (Denmark)

    Hammer, Cornelius; Dorrien, Christian von; Hopkins, Christopher C. E.

    2010-01-01

    The EU FP6 UNCOVER project was aimed at producing a rational scientific basis for developing recovery strategies for some ecologically and socio-economically important fish stocks/fisheries in European seas. The immediate objectives were to identify changes experienced during stock depletion....../collapses, to understand prospects for recovery, to enhance the scientific understanding of the mechanisms of recovery, and to formulate recommendations on how best to implement long-term management/recovery plans. We extended an earlier analysis conducted within the project of 13 performance criteria in relation...... to the recovery of more than 30 fish stocks/fisheries worldwide by multivariate exploratory analysis (canonical correspondence analysis), followed by model building [discriminant analysis (DA)] to quantify the relative importance of key performance criteria, singly or combined. Using the existing database, DA...

  13. Analysis of Asset Growth Anomaly on Cross-Section Stock Returns: Evidence from Indonesia Stock Exchange

    OpenAIRE

    Muhammad Iqbal; Buddi Wibowo

    2017-01-01

    Assorted types of market anomalies occur when stock prices deviate from the prediction of classical asset pricing theories. This study aims to examine asset growth anomaly where stocks with high asset growth will be followed by low returns in the subsequent periods. This study, using Indonesia Stock Exchanges data, finds that an equally-weighted low-growth portfolio outperforms high-growth portfolio by average 0.75% per month (9% per annum), confirming existence of asset growth anomaly. The a...

  14. The Impact Of Employee Stock Bonus On Equity Market Value

    OpenAIRE

    Niensu Shih

    2011-01-01

    This paper explores the relation between equity market value and the expense of employee stock bonus that is disclosed but not recognized under Taiwans law. Employing the regression analyses, and to investigate the effects of employee stock bonus on the firms share price. We find that the market value of employee stock bonus has a negative effect on the firms share price. The result indicates the negative side of employee stock bonus is its dilution of the existing shareholders equity rights.

  15. Integrating Life Cycle Energy into the Design of Façade Refurbishment for a Post-War Residential Building in The Netherlands

    NARCIS (Netherlands)

    Loussos, P.; Konstantinou, T.; Van den Dobbelsteen, A.A.J.F.; Bokel, R.

    2015-01-01

    The existing building stock has been in the focus of European Union policies for energy savings. Nevertheless, energy certification schemes refer mostly to operational energy and usually do not consider aspects related to the life cycle of the building. To look at the overall energy cost during the

  16. Lightweight envelopes for old buildings. Textile membranes offer new opportunities for the energy-based refurbishment of existing buildings; Leichte Huellen fuer alte Gebaeude. Textile Membranen bieten neue Moeglichkeiten fuer die energetische Sanierung von Bestandsbauten

    Energy Technology Data Exchange (ETDEWEB)

    Muenter, Micaela

    2012-11-01

    Lightweight and transparent membrane structures enable large spaces, such as courtyards in old building complexes, to be roofed over. Supplemental to the additional space created, this also achieves savings in terms of the heating and lighting. Artificial light is not necessary and the heat losses from the adjacent buildings can be reduced. However, an intelligent building management system is essential in order to create a pleasant indoor environment. To ensure that this is achieved, scientists have developed new concepts and components for the use of film and membranes in old buildings. (orig.)

  17. Energy in buildings: Efficiency, renewables and storage

    Directory of Open Access Journals (Sweden)

    Koebel Matthias M.

    2017-01-01

    Full Text Available This lecture summary provides a short but comprehensive overview on the “energy and buildings” topic. Buildings account for roughly 40% of the global energy demands. Thus, an increased adoption of existing and upcoming materials and solutions for the building sector represents an enormous potential to reduce building related energy demands and greenhouse gas emissions. The central question is how the building envelope (insulation, fenestration, construction style, solar control affects building energy demands. Compared to conventional insulation materials, superinsulation materials such as vacuum insulation panels and silica aerogel achieve the same thermal performance with significantly thinner insulation layers. With low-emissivity coatings and appropriate filler gasses, double and triple glazing reduce thermal losses by up to an order of magnitude compared to old single pane windows, while vacuum insulation and aerogel filled glazing could reduce these even further. Electrochromic and other switchable glazing solutions maximize solar gains during wintertime and minimize illumination demands whilst avoiding overheating in summer. Upon integration of renewable energy systems into the building energy supply, buildings can become both producers and consumers of energy. Combined with dynamic user behavior, temporal variations in the production of renewable energy require appropriate storage solutions, both thermal and electrical, and the integration of buildings into smart grids and energy district networks. The combination of these measures allows a reduction of the existing building stock by roughly a factor of three —a promising, but cost intensive way, to prepare our buildings for the energy turnaround.

  18. Policy Pathways: Modernising Building Energy Codes

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2013-08-01

    Buildings are the largest consumers of energy worldwide and will continue to be a source of increasing energy demand in the future. Globally, the sector’s final energy consumption doubled between 1971 and 2010 to reach 2 794 million tonnes of oil equivalent (Mtoe), driven primarily by population increase and economic growth. Under current policies, the global energy demand of buildings is projected by the IEA experts to grow by an additional 838 Mtoe by 2035 compared to 2010. The challenges of the projected increase of energy consumption due to the built environment vary by country. In IEA member countries, much of the future buildings stock is already in place, and so the main challenge is to renovate existing buildings stock. In non-IEA countries, more than half of the buildings stock needed by 2050 has yet to be built. The IEA and the UNDP partnered to analyse current practices in the design and implementation of building energy codes. The aim is to consolidate existing efforts and to encourage more attention to the role of the built environment in a low-carbon and climate-resilient world. This joint IEA-UNDP Policy Pathway aims to share lessons learned between IEA member countries and non-IEA countries. The objective is to spread best practices, limit pressures on global energy supply, improve energy security, and contribute to environmental sustainability. Part of the IEA Policy Pathway series, Modernising building energy codes to secure our global energy future sets out key steps in planning, implementation, monitoring and evaluation. The Policy Pathway series aims to help policy makers implement the IEA 25 Energy Efficiency Policy Recommendations endorsed by IEA Ministers (2011).

  19. Functional materials for energy-efficient buildings

    Directory of Open Access Journals (Sweden)

    Ebert H.-P

    2015-01-01

    Full Text Available The substantial improving of the energy efficiency is essential to meet the ambitious energy goals of the EU. About 40% of the European energy consumption belongs to the building sector. Therefore the reduction of the energy demand of the existing building stock is one of the key measures to deliver a substantial contribution to reduce CO2-emissions of our society. Buildings of the future have to be efficient in respect to energy consumption for construction and operation. Current research activities are focused on the development of functional materials with outstanding thermal and optical properties to provide, for example, slim thermally superinsulated facades, highly integrated heat storage systems or adaptive building components. In this context it is important to consider buildings as entities which fulfill energy and comfort claims as well as aesthetic aspects of a sustainable architecture.

  20. Stock Splits and Stock Dividends: Why, Who, and When.

    OpenAIRE

    Lakonishok, Josef; Lev, Baruch

    1987-01-01

    This study investigates empirically why firms split their stock or distribute stock dividends and why the market reacts favorably to these distributions. The findings suggest that stock splits are mainly aimed at restoring stock prices to a "normal range." Some support can also be found for the oft-mentioned signaling motive of stock splits. Stock dividends are altogether different from stock splits and they appear to be a decreasing phenomenon. The clue to stock dividend distributions may li...

  1. THE STUDY OF BRAKE SYSTEMS OF PASSENGER CARS MODEL 61-779 AND THEIR MODIFICATIONS PRODUCED BY OPEN JOINT STOCK COMPANY KRJUKIV CAR BUILDING PLANT

    Directory of Open Access Journals (Sweden)

    Yu. Ya. Vodiannikov

    2007-11-01

    Full Text Available The results of research of brake system for the model 61-779 of a passenger car manufactured by JSC «KVBZ» for the period from 2001 to 2006 are presented. It is shown that at the existing gear ratio of a brake lever transmission the passenger car brake efficiency does not correspond to running speed of 140 km/h. The causes of the wheel pairs damage occurrence in exploitation of a passenger train «Kiev – Moscow» as well as the recommendations on their elimination and brake system perfection are considered.

  2. Stock Market Project.

    Science.gov (United States)

    Distel, Brenda D.

    This project is designed to teach students the process of buying stocks and to tracking their investments over the course of a semester. The goals of the course are to teach students about the relationships between conditions in the economy and the stock market; to predict the effect of an economic event on a specific stock or industry; to relate…

  3. Predictability of Stock Returns

    Directory of Open Access Journals (Sweden)

    Ahmet Sekreter

    2017-06-01

    Full Text Available Predictability of stock returns has been shown by empirical studies over time. This article collects the most important theories on forecasting stock returns and investigates the factors that affecting behavior of the stocks’ prices and the market as a whole. Estimation of the factors and the way of estimation are the key issues of predictability of stock returns.

  4. Market Confidence Predicts Stock Price: Beyond Supply and Demand.

    Directory of Open Access Journals (Sweden)

    Xiao-Qian Sun

    Full Text Available Stock price prediction is an important and challenging problem in stock market analysis. Existing prediction methods either exploit autocorrelation of stock price and its correlation with the supply and demand of stock, or explore predictive indictors exogenous to stock market. In this paper, using transaction record of stocks with identifier of traders, we introduce an index to characterize market confidence, i.e., the ratio of the number of traders who is active in two successive trading days to the number of active traders in a certain trading day. Strong Granger causality is found between the index of market confidence and stock price. We further predict stock price by incorporating the index of market confidence into a neural network based on time series of stock price. Experimental results on 50 stocks in two Chinese Stock Exchanges demonstrate that the accuracy of stock price prediction is significantly improved by the inclusion of the market confidence index. This study sheds light on using cross-day trading behavior to characterize market confidence and to predict stock price.

  5. Market Confidence Predicts Stock Price: Beyond Supply and Demand.

    Science.gov (United States)

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi; Zhang, Yuqing

    2016-01-01

    Stock price prediction is an important and challenging problem in stock market analysis. Existing prediction methods either exploit autocorrelation of stock price and its correlation with the supply and demand of stock, or explore predictive indictors exogenous to stock market. In this paper, using transaction record of stocks with identifier of traders, we introduce an index to characterize market confidence, i.e., the ratio of the number of traders who is active in two successive trading days to the number of active traders in a certain trading day. Strong Granger causality is found between the index of market confidence and stock price. We further predict stock price by incorporating the index of market confidence into a neural network based on time series of stock price. Experimental results on 50 stocks in two Chinese Stock Exchanges demonstrate that the accuracy of stock price prediction is significantly improved by the inclusion of the market confidence index. This study sheds light on using cross-day trading behavior to characterize market confidence and to predict stock price.

  6. Structural affection of the integration of the solar panels in existing buildings; Afeccion estructural de la integracion de los paneles solares en edificios existentes

    Energy Technology Data Exchange (ETDEWEB)

    Mencias, D. C.; Arroba, M. F.

    2008-07-01

    For a short time, is obligatory to install solar and/or photovoltaic panels, not only in new buildings, even those who are subjected to a important reform or rehabilitation. The installation of these panels, involves a series of structural impacts on the structure of the buildings where they are installed, which originally had not been planned or considered in loads evaluation. These new actions are originated both in the weight of the solar elements as a resistance that oppose the wind force and the consequent counterweights. This communication proposes the analysis of the reduction that these new loads cause in safety factors considered in the initial calculation. Permanent loads influence direct their own panels and the accumulation of deposits and derivative, such as caused by the counterweights installed for the wind, are analyzed in Ultimated State Limits. (Author)

  7. Decision-making in the Pre-design Stage of Sustainable Building Renovation Projects

    DEFF Research Database (Denmark)

    Nielsen, Anne Nørkjær; Steen Larsen, Tine; Jensen, Rasmus Lund

    2017-01-01

    There is a great potential in renovating our existing building stock, in terms of improving environmental, economic and social qualities. Meeting the increasing performance requirements for sustainable construction entails an increasing level of complexity in the design process of both new...

  8. Dynamic Model for the Stocks and Release Flows of Engineered Nanomaterials.

    Science.gov (United States)

    Song, Runsheng; Qin, Yuwei; Suh, Sangwon; Keller, Arturo A

    2017-10-12

    Most existing life-cycle release models for engineered nanomaterials (ENM) are static, ignoring the dynamics of stock and flows of ENMs. Our model, nanoRelease, estimates the annual releases of ENMs from manufacturing, use, and disposal of a product explicitly taking stock and flow dynamics into account. Given the variabilities in key parameters (e.g., service life of products and annual release rate during use) nanoRelease is designed as a stochastic model. We apply nanoRelease to three ENMs (TiO¬2, SiO2 and FeOx) used in paints and coatings through seven product applications, including construction and building, household and furniture, and automotive for the period from 2000 to 2020 using production volume and market projection information. We also consider model uncertainties using Monte Carlo simulation. Compared with 2016, the total annual releases of ENMs in 2020 will increase by 34-40%, and the stock will increase by 28-34%. The fraction of the end-of-life release among total release flows will increase from 11% in 2002 to 43% in 2020. As compared to static models, our dynamic model predicts about an order of magnitude lower values for the amount of ENM released from this sector in the near-term while stock continues to build up in the system.

  9. Does Employee Stock Ownership Work?

    DEFF Research Database (Denmark)

    Kato, Takao; Miyajima, Hideaki; Owan, Hideo

    studies, we focus on the effects of changes in varying attributes of existing ESO—the effects on the intensive margin. Our fixed effect estimates show that an increase in the strength of the existing ESO plans measured by stake per employee results in statistically significant productivity gains......This paper provides novel evidence on the effects of employee stock ownership (ESO), using new panel data on Japanese ESO plans for a highly representative sample of publicly-traded firms in Japan (covering more than 75% of all firms listed on Tokyo Stock Exchange) over 1989-2013. Unlike most prior....... Furthermore, such productivity gains are found to lead to profitability gains since wage gains from ESO plans are statistically significant yet rather modest. Our analysis of Tobin's Q suggests that the market tends to view such gains from ESO plans as permanent. We further find that increasing the stake...

  10. Discovering Stock Price Prediction Rules of Bombay Stock Exchange Using Rough Fuzzy Multi Layer Perception Networks

    OpenAIRE

    Chaudhuri, Arindam; De, Kajal; Chatterjee, Dipak

    2013-01-01

    In India financial markets have existed for many years. A functionally accented, diverse, efficient and flexible financial system is vital to the national objective of creating a market driven, productive and competitive economy. Today markets of varying maturity exist in equity, debt, commodities and foreign exchange. In this work we attempt to generate prediction rules scheme for stock price movement at Bombay Stock Exchange using an important Soft Computing paradigm viz., Rough Fuzzy Multi...

  11. DEVELOPMENT TRENDS FOR ROLLING STOCK TRACTION MOTORS

    Directory of Open Access Journals (Sweden)

    O.V. Pasko

    2013-02-01

    Full Text Available Rolling stock on the railways of Ukraine has not been updated for many years, which has led to significant wear of the country electric and diesel locomotive fleet. A way out of the existing situation is execution of major overhaul with extension of locomotive life to allow their operation for several more years. Repair or upgrading as well as putting new rolling stock into operation must be accompanied by implementation of state-of-the-art traction electric drives.

  12. Does oil price uncertainty transmit to the Thai stock market?

    Directory of Open Access Journals (Sweden)

    Komain Jiranyakul

    2014-12-01

    Full Text Available This study investigates the impact of oil price uncertainty on the Stock Exchange of Thailand. Monthly data from May 1987 to December 2013 are applied to the two-stage procedure. In the first step, a bivariate generalized autoregressive conditional heteroskedastic (GARCH model is estimated to obtain the volatility series of stock market index and oil price. In the second step, the pairwise Granger causality tests are performed to determine the direction of volatility transmission between oil to stock markets. It is found that movement in real oil price does not adversely affect real stock market return, but stock price volatility does affect real stock return. In the sense of causality, there exists a positive one-directional volatility transmission running from oil to stock market. Oil price change and its uncertainty also adversely affect two main sub-index returns. These important findings give some implications for risk management and policy measures.

  13. Multifractal in Volatility of Family Business Stocks Listed on Casablanca STOCK Exchange

    Science.gov (United States)

    Lahmiri, Salim

    In this paper, we check for existence of multifractal in volatility of Moroccan family business stock returns and in volatility of Casablanca market index returns based on multifractal detrended fluctuation analysis (MF-DFA) technique. Empirical results show strong evidence of multifractal characteristics in volatility series of both family business stocks and market index. In addition, it is found that small variations in volatility of family business stocks are persistent, whilst small variations in volatility of market index are anti-persistent. However, large variations in family business volatility and market index volatility are both anti-persistent. Furthermore, multifractal spectral analysis based results show strong evidence that volatility in Moroccan family business companies exhibits more multifractality than volatility in the main stock market. These results may provide insightful information for risk managers concerned with family business stocks.

  14. Macro-economic benefit analysis of large scale building energy efficiency programs in Qatar

    Directory of Open Access Journals (Sweden)

    Moncef Krarti

    2017-12-01

    Full Text Available This paper evaluates the economic, environmental, and social benefits of large-scale energy efficiency programs for new and existing buildings in Qatar. Using data obtained from detailed energy audits, several proven energy efficiency measures have been analyzed through optimized based analysis to assess their impact on the energy performance for both new and existing buildings in Qatar. Moreover, a bottom-up analysis approach is considered to quantify the multiple benefits for implementing large-scale building energy efficiency programs for the building stock in Qatar. In particular, a more stringent energy efficiency code for the new constructions and three energy retrofit levels for the existing buildings are considered in the analysis. A novel macro-economic analysis using the concept of energy productivity is used to assess the cost-benefit of large-scale energy efficiency programs in Qatar. It is determined that the implementation of a government funded large-scale energy retrofit program for the existing building stock is highly cost-effective in Qatar. In particular, it is found that a large-scale energy efficiency retrofit program of existing buildings can provide a reduction of 11,000 GWh in annual electricity consumption and 2500 MW in peak demand as well as over 5400 kilo-ton per year in carbon emissions. In addition, over 4000 jobs per year can be created when this large-scale energy retrofit program is implemented over 10-year period.

  15. EarthScope's Plate Boundary Observatory in Alaska: Building on Existing Infrastructure to Provide a Platform for Integrated Research and Hazard-monitoring Efforts

    Science.gov (United States)

    Boyce, E. S.; Bierma, R. M.; Willoughby, H.; Feaux, K.; Mattioli, G. S.; Enders, M.; Busby, R. W.

    2014-12-01

    EarthScope's geodetic component in Alaska, the UNAVCO-operated Plate Boundary Observatory (PBO) network, includes 139 continuous GPS sites and 41 supporting telemetry relays. These are spread across a vast area, from northern AK to the Aleutians. Forty-five of these stations were installed or have been upgraded in cooperation with various partner agencies and currently provide data collection and transmission for more than one group. Leveraging existing infrastructure normally has multiple benefits, such as easier permitting requirements and costs savings through reduced overall construction and maintenance expenses. At some sites, PBO-AK power and communications systems have additional capacity beyond that which is needed for reliable acquisition of GPS data. Where permits allow, such stations could serve as platforms for additional instrumentation or real-time observing needs. With the expansion of the Transportable Array (TA) into Alaska, there is increased interest to leverage existing EarthScope resources for station co-location and telemetry integration. Because of the complexity and difficulty of long-term O&M at PBO sites, however, actual integration of GPS and seismic equipment must be considered on a case-by-case basis. UNAVCO currently operates two integrated GPS/seismic stations in collaboration with the Alaska Earthquake Center, and three with the Alaska Volcano Observatory. By the end of 2014, PBO and TA plan to install another four integrated and/or co-located geodetic and seismic systems. While three of these are designed around existing PBO stations, one will be a completely new TA installation, providing PBO with an opportunity to expand geodetic data collection in Alaska within the limited operations and maintenance phase of the project. We will present some of the design considerations, outcomes, and lessons learned from past and ongoing projects to integrate seismometers and other instrumentation at PBO-Alaska stations. Developing the PBO

  16. Comparison between global financial crisis and local stock disaster on top of Chinese stock network

    Science.gov (United States)

    Xia, Lisi; You, Daming; Jiang, Xin; Guo, Quantong

    2018-01-01

    The science of complex network theory can be usefully applied in many important fields, one of which is the finance. In these practical cases, a massive dataset can be represented as a very large network with certain attributes associated with its nodes and edges. As one of the most important components of financial market, stock market has been attracting more and more attention. In this paper, we propose a threshold model to build Chinese stock market networks and study the topological properties of these networks. To be specific, we compare the effects of different crises, namely the 2008 global crisis and the stock market disaster in 2015, on the threshold networks. Prices of the stocks belonging to the Shanghai and Shenzhen 300 index are considered for three periods: the global crisis, common period and the stock market disaster. We find the probability distribution of the cross-correlations of the stocks during the stock market disaster is fatter than that of others. Besides, the thresholds of cross-correlations are assigned to obtain the threshold networks and the power-law of degree distribution in these networks are observed in a certain range of threshold values. The networks during the stock market disaster also appear to have larger mean degree and modularity, which reveals the strong correlations among these stock prices. Our findings to some extent crosscheck the liquidity shortage reason which is believed to result in the outbreak of the stock market disaster. Moreover, we hope that this paper could give us a deeper understanding of the market's behavior and also lead to interesting future research about the problems of modern finance theory.

  17. Asymmetry Effects of shocks in Chinese Stock Markets Volatility

    DEFF Research Database (Denmark)

    Hou, Ai Jun

    2013-01-01

    The unique characteristics of the Chinese stock markets make it difficult to assume a particular distribution for innovations in returns and the specification form of the volatility process when modelling return volatility with the parametric GARCH family models. This paper therefore applies...... a generalized additive nonparametric smoothing technique to examine the volatility of the Chinese stock markets. The empirical results indicate that an asymmetric effect of negative news exists in the Chinese stock markets. Furthermore, compared with other parametric models, the generalized additive...

  18. Asymmetric joint multifractal analysis in Chinese stock markets

    Science.gov (United States)

    Chen, Yuwen; Zheng, Tingting

    2017-04-01

    In this paper, the asymmetric joint multifractal analysis method based on statistical physics is proposed to explore the asymmetric correlation between daily returns and trading volumes in Chinese stock markets. The result shows asymmetric multifractal correlations exist between return and trading volume in Chinese stock markets. Moreover, when the stock indexes are upward, the fluctuations of returns are always weaker than when they are downward, whether the trading volumes are more or less.

  19. Determination of the Thermal Insulation for the Model Building Approach and the Global Effects in Turkey

    Directory of Open Access Journals (Sweden)

    Cenk Onan

    2014-08-01

    Full Text Available One of the most important considerations to be considered in the design of energy efficient buildings is the thickness of the insulation to be applied to the building. In this study the existing building stock in Turkey has been investigated depending on parameters such as the height and the area. A model building has been created covering all of these buildings. Fuel emission reduction of combustion system was calculated in the case of insulation applied to this model building. Heat loss of the existing building stock and exhaust emissions and the contribution to the country's economy with the model building methodology are also determined. The results show that the optimum insulation thicknesses vary between 3.21 and 7.12 cm, the energy savings vary between 9.23 US$/m2 and43.95 US$/m2, and the payback periods vary between 1 and 8.8 years depending on the regions. As a result of the study when the optimum insulation thickness is applied in the model building, the total energy savings for the country are calculated to be 41.7 billion US$. And also total CO2 emissions for the country are calculated to be 57.2 billion kg CO2 per year after insulation.

  20. Monitoring of soil organic carbon and nitrogen stocks in different ...

    African Journals Online (AJOL)

    Soil organic carbon (SOC) and soil nitrogen (SN) are the principal components in soil quality assessment, and in mitigation the global greenhouse effect. In Iran, little information exists on the stocks of SOC and SN. SOC and SN stocks are a function of the SOC and SN concentrations and the bulk density of the soil that are ...

  1. Stock Market Returns and Exchange Rates in Botswana | Lesotho ...

    African Journals Online (AJOL)

    This paper investigates the effect of bilateral exchange rates on stock market returns in the Botswana Stock Exchange (BSE) measured by the domestic company index (DCI). To examine whether this effect exists or not, Johansen cointegration test, Vector Error Correction model (VECM), Granger causality test, Impulse ...

  2. ImBuild: Impact of building energy efficiency programs

    Energy Technology Data Exchange (ETDEWEB)

    Scott, M.J.; Hostick, D.J.; Belzer, D.B.

    1998-04-01

    As part of measuring the impact of government programs on improving the energy efficiency of the Nation`s building stock, the Department of Energy Office of Building Technology, State and Community Programs (BTS) is interested in assessing the economic impacts of its portfolio of programs, specifically the potential impact on national employment and income. The special-purpose version of the IMPLAN model used in this study is called ImBuild. In comparison with simple economic multiplier approaches, such as Department of Commerce RIMS 2 system, ImBuild allows for more complete and automated analysis of the economic impacts of energy efficiency investments in buildings. ImBuild is also easier to use than existing macroeconomic simulation models. The authors conducted an analysis of three sample BTS energy programs: the residential generator-absorber heat exchange gas heat pump (GAX heat pump), the low power sulfur lamp (LPSL) in residential and commercial applications, and the Building America program. The GAX heat pump would address the market for the high-efficiency residential combined heating and cooling systems. The LPSL would replace some highly efficient fluorescent commercial lighting. Building America seeks to improve the energy efficiency of new factory-built, modular, manufactured, and small-volume, site-built homes through use of systems engineering concepts and early incorporation of new products and processes, and by increasing the demand for more energy-efficient homes. The authors analyze a scenario for market penetration of each of these technologies devised for BTS programs reported in the BTS GPRA Metrics Estimates, FY99 Budget Request, December 19, 1997. 46 figs., 4 tabs.

  3. Effects of daylight savings time changes on stock market volatility.

    Science.gov (United States)

    Berument, M Hakan; Dogan, Nukhet; Onar, Bahar

    2010-04-01

    The presence of daylight savings time effects on stock returns and on stock volatility was investigated using an EGARCH specification to model the conditional variance. The evidence gathered from the major United States stock markets for the period between 1967 and 2007 did not support the existence of the daylight savings time effect on stock returns or on volatility. Returns on the first business day following daylight savings time changes were not lower nor was the volatility higher, as would be expected if there were an effect.

  4. DLA Forward Stocking

    National Research Council Canada - National Science Library

    Flory, John

    2007-01-01

    .... This study evaluates the feasibility of forward stocking in terms of DoD savings. The performance of DLA's criteria is evaluated and a new criteria using a cost and demand threshold is proposed...

  5. Financial liberalization and stock market cross-correlation: MF-DCCA analysis based on Shanghai-Hong Kong Stock Connect

    Science.gov (United States)

    Ruan, Qingsong; Zhang, Shuhua; Lv, Dayong; Lu, Xinsheng

    2018-02-01

    Based on the implementation of Shanghai-Hong Kong Stock Connect in China, this paper examines the effects of financial liberalization on stock market comovement using both multifractal detrended fluctuation analysis (MF-DFA) and multifractal detrended cross-correlation analysis (MF-DCCA) methods. Results based on MF-DFA confirm the multifractality of Shanghai and Hong Kong stock markets, and the market efficiency of Shanghai stock market increased after the implementation of this connect program. Besides, analysis based on MF-DCCA has verified the existence of persistent cross-correlation between Shanghai and Hong Kong stock markets, and the cross-correlation gets stronger after the launch of this liberalization program. Finally, we find that fat-tail distribution is the main source of multifractality in the cross-correlations before the stock connect program, while long-range correlation contributes to the multifractality after this program.

  6. Stock Price Reactions to Short-Lived Public Information : The Case of Betting Odds

    NARCIS (Netherlands)

    Palomino, F.A.; Renneboog, L.D.R.; Zhang, C.

    2005-01-01

    Stock markets and betting markets co-exist for professional soccer clubs listed on the London Stock Exchange.For each firm, two pieces of information are released to the stock market on a weekly basis from August to June: experts expectations about game outcomes through the betting odds, and the

  7. ANALYSIS OF ENERGY SAVING AND ENERGY EFFICIENCY ISSUES DURING OPERATION OF THE METRO ROLLING STOCK

    Directory of Open Access Journals (Sweden)

    A. V. Donchenko

    2016-06-01

    Beresteyskaya –Shulyavskyaya» of KP «Kiev Metro». Practical value. Results of the research concerning quantity of energy saved with the help of recuperation systems and energy saving control systems can be used during building of a new metro rolling stock or modernization of existing one.

  8. The study of issuance of stocks in venture companies listed in Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Ali Amiri

    2016-09-01

    Full Text Available In order to implement the profitable projects, achieve the maximum efficiency, and increase their shareholders, companies may use different types of financial resources in different ways. The ability of companies to identify the internal and external resources for providing capital and financial programs is considered as one of the main factors that affects on the growth and development of the companies. Financing resources and their usage volume are factors that affect on the companies’ operating performance. In this regard, companies and economic institutions can be financially provided from both inside and outside. Companies can issue and sell new common stocks to investors to provide their required financial resources. This study was conducted to investigate the issuance of stocks as one of resources of financing in the companies. Statistical population of this study was active listed companies in Tehran Stock Exchange. The sample of study was selected among listed companies raising capital through applying stage random sampling and simple random sampling. Sampling was conducted during the period 2008-20013 and finally the sample size including 40 companies were chosen using a Cochran formula. To analyze the obtained information, t-test and correlation coefficient were used. Although the results of the study revealed that there was no significant difference between the internal sources of financing and the issuance of stocks among the studied companies, there is a significant relationship between companies’ issuance of stocks and their size. Companies increase the use of retained earnings and stocks for financing through expanding the size of companies. Also, due to the existence of relationship between financing and the fixed assets of the companies through issuing the stocks of companies, no statistically significant relationship were observed between financing and companies’ profitability. Finally, there was no significant

  9. Polish stock market and some foreign markets – dependence analysis by copulas

    OpenAIRE

    Henryk Gurgul; Roland Mestel; Robert Syrek

    2008-01-01

    By applying copulas the examination was carried out to find out whether trading volume, stock return and return volatility are pairwise dependent. In the investigations it was shown that there exists a close relationship between these variables on the domestic market and between Polish stock returns and the returns of foreign stock market indexes. A similar significant relationship concerns also trading volumes. In addition, stock returns (returns volatility) of the Austrian and especially of...

  10. The Geometric Phase of Stock Trading.

    Directory of Open Access Journals (Sweden)

    Claudio Altafini

    Full Text Available Geometric phases describe how in a continuous-time dynamical system the displacement of a variable (called phase variable can be related to other variables (shape variables undergoing a cyclic motion, according to an area rule. The aim of this paper is to show that geometric phases can exist also for discrete-time systems, and even when the cycles in shape space have zero area. A context in which this principle can be applied is stock trading. A zero-area cycle in shape space represents the type of trading operations normally carried out by high-frequency traders (entering and exiting a position on a fast time-scale, while the phase variable represents the cash balance of a trader. Under the assumption that trading impacts stock prices, even zero-area cyclic trading operations can induce geometric phases, i.e., profits or losses, without affecting the stock quote.

  11. The Geometric Phase of Stock Trading.

    Science.gov (United States)

    Altafini, Claudio

    2016-01-01

    Geometric phases describe how in a continuous-time dynamical system the displacement of a variable (called phase variable) can be related to other variables (shape variables) undergoing a cyclic motion, according to an area rule. The aim of this paper is to show that geometric phases can exist also for discrete-time systems, and even when the cycles in shape space have zero area. A context in which this principle can be applied is stock trading. A zero-area cycle in shape space represents the type of trading operations normally carried out by high-frequency traders (entering and exiting a position on a fast time-scale), while the phase variable represents the cash balance of a trader. Under the assumption that trading impacts stock prices, even zero-area cyclic trading operations can induce geometric phases, i.e., profits or losses, without affecting the stock quote.

  12. Exploring Market State and Stock Interactions on the Minute Timescale.

    Science.gov (United States)

    Tan, Lei; Chen, Jun-Jie; Zheng, Bo; Ouyang, Fang-Yan

    2016-01-01

    A stock market is a non-stationary complex system. The stock interactions are important for understanding the state of the market. However, our knowledge on the stock interactions on the minute timescale is limited. Here we apply the random matrix theory and methods in complex networks to study the stock interactions and sector interactions. Further, we construct a new kind of cross-correlation matrix to investigate the correlation between the stock interactions at different minutes within one trading day. Based on 50 million minute-to-minute price data in the Shanghai stock market, we discover that the market states in the morning and afternoon are significantly different. The differences mainly exist in three aspects, i.e. the co-movement of stock prices, interactions of sectors and correlation between the stock interactions at different minutes. In the afternoon, the component stocks of sectors are more robust and the structure of sectors is firmer. Therefore, the market state in the afternoon is more stable. Furthermore, we reveal that the information of the sector interactions can indicate the financial crisis in the market, and the indicator based on the empirical data in the afternoon is more effective.

  13. Exploring Market State and Stock Interactions on the Minute Timescale.

    Directory of Open Access Journals (Sweden)

    Lei Tan

    Full Text Available A stock market is a non-stationary complex system. The stock interactions are important for understanding the state of the market. However, our knowledge on the stock interactions on the minute timescale is limited. Here we apply the random matrix theory and methods in complex networks to study the stock interactions and sector interactions. Further, we construct a new kind of cross-correlation matrix to investigate the correlation between the stock interactions at different minutes within one trading day. Based on 50 million minute-to-minute price data in the Shanghai stock market, we discover that the market states in the morning and afternoon are significantly different. The differences mainly exist in three aspects, i.e. the co-movement of stock prices, interactions of sectors and correlation between the stock interactions at different minutes. In the afternoon, the component stocks of sectors are more robust and the structure of sectors is firmer. Therefore, the market state in the afternoon is more stable. Furthermore, we reveal that the information of the sector interactions can indicate the financial crisis in the market, and the indicator based on the empirical data in the afternoon is more effective.

  14. Commodities and Stock Investment

    Directory of Open Access Journals (Sweden)

    Syed Jawad Hussain Shahzad

    2014-09-01

    Full Text Available This study is a multivariate analysis of commodities and stock investment in a newly established market scenario. Return distribution asymmetry is examined with higher order movements. Skewness in commodity future’s return is largely insignificant, whereas kurtosis is highly significant for both stock and commodity future contracts. Correlation analysis is done with Pearson’s and Kendall’s tau measures. Commodities provide significant diversification benefits when added in a portfolio of stocks. Compared with stocks, commodity future’s returns show stronger correlation with unexpected inflation. The volatility is measured through Glosten-Jagannathan-Runkle - Generalized Autoregressive Conditional Heteroskedasticity (GJR-GARCH model and reflects that commodities have inverted asymmetric behavior, that is, more impact from the upward shocks compared with downward. Stocks have asymmetric volatility, that is, more impact from negative shocks compared with positive. Gold has highest inverted asymmetric volatility. Tail dependence, measured through Student’s t copula, shows no combined downside movement. In conclusion, commodity investments provide diversification and inflation protection.

  15. Member State approach towards a strategy for passive/very low-energy buildings

    DEFF Research Database (Denmark)

    Dyrbøl, Susanne; Thomsen, Kirsten Engelund; Wittchen, Kim Bjarne

    2008-01-01

    . The survey shows that many European countries already have taken national actions towards implementing requirements at the level of very low-energy buildings within a time frame of 5-12 years but only a few European Member States (MS) have plans for strengthening the requirements to the existing buildings...... of the current national approach in this area EuroACE has initiated a survey. The scope was to create an overview of current and planned strategies in the European countries regarding the implementation of requirements towards very low-energy buildings (on passive level or similar) in their national legislation...... by introducing a request to MS to: define very low-energy buildings at national level, to draw up a national strategy towards this level of energy performance, and to put focus on upgrading energy performance of the existing building stock....

  16. Analysis of Asset Growth Anomaly on Cross-Section Stock Returns: Evidence from Indonesia Stock Exchange

    Directory of Open Access Journals (Sweden)

    Muhammad Iqbal

    2017-03-01

    Full Text Available Assorted types of market anomalies occur when stock prices deviate from the prediction of classical asset pricing theories. This study aims to examine asset growth anomaly where stocks with high asset growth will be followed by low returns in the subsequent periods. This study, using Indonesia Stock Exchanges data, finds that an equally-weighted low-growth portfolio outperforms high-growth portfolio by average 0.75% per month (9% per annum, confirming existence of asset growth anomaly. The analysis is extended at individual stock-level using fixed-effect panel regression in which asset growth effect remains significant even with controlling other variables of stock return determinants. This study also explores further whether asset growth can be included as risk factor. Employing two-stage cross-section regression in Fama and Macbeth (1973, the result aligns with some prior studies that asset growth is not a new risk factor; instead the anomaly is driven by mispricing due to investors’ overreaction and psychological bias. This result imply that asset growth anomaly is general phenomenon that can be found at mostly all stock market but in Indonesia market asset growth anomaly rise from investors’ overreaction, instead of  playing as a factor of risk.

  17. Analysis of Asset Growth Anomaly on Cross-Section Stock Returns: Evidence from Indonesia Stock Exchange

    Directory of Open Access Journals (Sweden)

    Muhammad Iqbal

    2017-06-01

    Full Text Available Assorted types of market anomalies occur when stock prices deviate from the prediction of classical asset pricing theories. This study aims to examine asset growth anomaly where stocks with high asset growth will be followed by low returns in the subsequent periods. This study, using Indonesia Stock Exchanges data, finds that an equally-weighted low-growth portfolio outperforms high-growth portfolio by average 0.75% per month (9% per annum, confirming existence of asset growth anomaly. The analysis is extended at individual stock-level using fixed-effect panel regression in which asset growth effect remains significant even with controlling other variables of stock return determinants. This study also explores further whether asset growth can be included as risk factor. Employing two-stage cross-section regression in Fama and Macbeth (1973, the result aligns with some prior studies that asset growth is not a new risk factor; instead the anomaly is driven by mispricing due to investors’ overreaction and psychological bias. This result imply that asset growth anomaly is general phenomenon that can be found at mostly all stock market but in Indonesia market asset growth anomaly rise from investors’ overreaction, instead of  playing as a factor of risk.

  18. The Effects of Stock Dividend on Stock Return in Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Ebrahim Abbasi

    2014-06-01

    Full Text Available This study is aimed at identifying the relationship between stock dividend issue and return rate of share of 100 firms from Tehran Stock Exchange during years 2007-2011 tending to issue stock dividend. Pearson correlation test was used to examine the relationship between stock dividend issues and return rate of share and results showed that there is no significant relationship between share return rate and the amount of stock dividend and also between stock dividend issue percentage and return rate of share.

  19. Stock Assessment Supplementary Information (SASINF)

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — In the interest of efficiency, clarity and standardization of stock assessment materials, the stock assessment reports for the 2015 Groundfish update have been...

  20. The Impact of Economic Agents Perceptions on Stock Price Volatility

    Directory of Open Access Journals (Sweden)

    Jaroslav Bukovina

    2015-01-01

    Full Text Available This paper studies perceptions of economic subjects and its impact on stock prices. Perceptions are represented by stock market indexes and Facebook activity. The contribution of this paper is twofold. In the first place, this paper analyzes the unique data of Facebook activity and proposes the methodology for employment of social networks as a proxy variable which represents the perceptions of information in society related to the specific company. The second contribution is the proposal of potential link between social network principles and theories of behavioral economics. Overall, the author finds the negative impact of Facebook activity on stock prices and the positive impact of stock market indices. The author points the implications of findings to protection of company reputation and to investment strategy based on the existence of undervalued stocks.

  1. The Body Stocking

    DEFF Research Database (Denmark)

    Petersen, Louise Ravnløkke Munk; Bang, Anne Louise

    2016-01-01

    of the Repertory Grid technique and Wardrobe Studies to frame a tangible dialogue enabling the parents to elaborate on personal preferences of design aesthetics and materials in baby clothing. In the analysis we use the body stocking as a common reference point for learning about reasons for high use frequency...

  2. Stock Market Savvy.

    Science.gov (United States)

    Okula, Susan

    2003-01-01

    This issue of Keying In, the newsletter of the National Business Education Association, focuses upon teaching young adults how to develop both investment strategies and an understanding of the stock market. The first article, "Sound Investing Know-How: A Must for Today's Young Adults," describes how young adults can plan for their own…

  3. fertilizer and stocking rates

    African Journals Online (AJOL)

    and in this case the best economic response was achieved at a lower stocking rate than needed for ... The trial was conducted at two sites, the Bathurst Research Station (33°30'S; 26°50'E) (1986-1994) and ... Rainfall and evaporation at the Bathurst Research Station and rainfall at the Boslaagte homestead were measured ...

  4. The Stock Market and Investment

    OpenAIRE

    Barro, Robert J.

    1989-01-01

    Changes in stock prices have substantial explanatory power for U.S. investment, especially for long-term samples, and even in the presence of cash flow variables. The stock market dramatically out-performs a standard q-variable because the market-equity component of this variable is only a rough proxy for stock market value. Although the stock market did not predict accurately after the crash of October 1987, the errors were not statistically significant. Parallel relationships for Canada rai...

  5. Stock Liquidity and Investment Efficiency

    OpenAIRE

    HEIDI HOOI KHUAN QUAH

    2017-01-01

    This PhD study investigates the implications of stock liquidity on firm investments efficiency. The study finds that high stock liquidity has a positive impact on investment efficiency and shows that the beneficial effect of stock liquidity on investment efficiency is stronger among firms with higher information asymmetry and higher monitoring institutional investors. These findings suggest that high stock liquidity plays important informational and governance roles in mitigating information ...

  6. Development of two Danish building typologies for residential buildings

    DEFF Research Database (Denmark)

    Kragh, Jesper; Wittchen, Kim Bjarne

    2014-01-01

    The aim of this paper is to present two Danish typologies for residential buildings developed in the EU-financed project TABULA. The building typologies focus on energy performance and can be used in the analyses of, e.g., political strategies for planning the future upgrading of the energy...... building types: single-family houses, terraced houses and blocks of flats. Each main building type is presented for nine periods representing age, typical building tradition and insulation levels. Finally, an energy balance model of the residential building stock was devised to validate the average...

  7. ---Stock Market Devpt in Ethiopia

    African Journals Online (AJOL)

    Jetu_E_Ch

    accommodates stock market in Ethiopia is a timely issue to catch up with the global trend, given the ... designed to trade stocks except for the fragmented and unregulated stock trading in a dealer market. ..... Monetary Policy Instruments in Ethiopia (Economic Research Department, National. Bank of Ethiopia) pp. 1-18. 39.

  8. Comparable stocks, boundedly rational stock markets and IPO entry rates.

    Directory of Open Access Journals (Sweden)

    Jay Chok

    Full Text Available In this study, we examine how initial public offerings (IPO entry rates are affected when stock markets are boundedly rational and IPO firms infer information from their counterparts in the market. We hypothesize a curvilinear relationship between the number of comparable stocks and initial public offerings (IPO entry rates into the NASDAQ Stock Exchange. Furthermore, we argue that trading volume and changes in stock returns partially mediates the relationship between the number of comparable stocks and IPO entry rates. The statistical evidence provides strong support for the hypotheses.

  9. Building America Case Study: Low-Load Space-Conditioning Needs Assessment, Northeast and Mid-Atlantic; Technology Solutions for New and Existing Homes, Energy Efficiency & Renewable Energy (EERE)

    Energy Technology Data Exchange (ETDEWEB)

    None

    2015-07-01

    With limited low-load options in the HVAC market, many new-construction housing units are being fitted with oversized equipment - thus facing penalties in system efficiency, comfort, and cost. To bridge the gap between currently available HVAC equipment and the rising demand for low-load HVAC equipment in the marketplace, HVAC equipment manufacturers need to be fully aware of multifamily buildings and single-family homes market needs. Over the past decade, Steven Winter Associates, Inc. (SWA) has provided certification and consulting services on hundreds of housing projects and has accrued a large pool of data. CARB compiled and analyzed these data to see what the thermal load ranges are in various multifamily apartments and attached single-family home types (duplex and townhouse). In total, design loads from 941 dwellings from SWA's recent multifamily and attached single-family work across the Northeast and Mid-Atlantic were analyzed. Information on the dwelling characteristics, design loads, and the specifications of installed mechanical equipment were analyzed to determine any trends that exist within the dataset. Of the 941 dwellings, CARB found that only 1% had right-sized heating equipment and 6% of the dwellings had right-sized cooling equipment (within 25% or less of design load).

  10. On the Feed-back Mechanism of Chinese Stock Markets

    Science.gov (United States)

    Lu, Shu Quan; Ito, Takao; Zhang, Jianbo

    Feed-back models in the stock markets research imply an adjustment process toward investors' expectation for current information and past experiences. Error-correction and cointegration are often used to evaluate the long-run relation. The Efficient Capital Market Hypothesis, which had ignored the effect of the accumulation of information, cannot explain some anomalies such as bubbles and partial predictability in the stock markets. In order to investigate the feed-back mechanism and to determine an effective model, we use daily data of the stock index of two Chinese stock markets with the expectational model, which is one kind of geometric lag models. Tests and estimations of error-correction show that long-run equilibrium seems to be seldom achieved in Chinese stock markets. Our result clearly shows the common coefficient of expectations and fourth-order autoregressive disturbance exist in the two Chinese stock markets. Furthermore, we find the same coefficient of expectations has an autoregressive effect on disturbances in the two Chinese stock markets. Therefore the presence of such feed-back is also supported in Chinese stock markets.

  11. Stock market in Ukraine: state and prospects of development

    Directory of Open Access Journals (Sweden)

    Krasnova Iryna V.

    2014-01-01

    Full Text Available The article is devoted to analysis of the topical problem of detection of specific features of functioning and problem of development of the stock market of Ukraine and also justification of directions of increase of its liquidity and efficiency. It analyses main tendencies and regularities of development of the stock market in the context of institutional, instrumental and infrastructural components. It considers issues of changes of volumes of trade and other parameters of activity of stock exchanges during recent years. It focuses on existing problems on the way of development of the stock market of Ukraine, which interfere with its efficient functioning, in particular, a limited number of liquid and investment attractive financial instruments, high fragmentariness of the exchange and depositary infrastructure, and insufficient legislative regulation of the exchange activity. For solution of problem issues and stimulation of further development of the domestic stock market the article marks expediency of consolidation of stock exchanges, necessity to increase capitalisation, liquidity and transparency of the stock market; further formation and consolidation of the market infrastructure and ensuring its reliable and efficient functioning, and improvement of mechanisms of state regulation, supervision and protection of the rights of investors in the Ukrainian stock market.

  12. Factors of Selection of the Stock Allocation Method

    Directory of Open Access Journals (Sweden)

    Rohov Heorhii K.

    2014-03-01

    Full Text Available The article describes results of the author’s study of factors of making strategic decisions on selection of methods of stock allocation by public joint stock companies in Ukraine. The author used the Random forest mathematical apparatus of classification trees building and also informal methods. The article analyses the reasons that restrain public allocation of stock. It shows significant influence upon selection of a method of stock allocation of such factors as capital concentration, balance rate of corporate rights, sector of economy and significant participation of the institutes of common investment or the state in the authorised capital. The built hierarchical model of classification of factors of the issuing policy of joint stock companies finds logical justification in specific features of the institutional environment, however, it does not fit into the framework of the classical concept of the market economy. The model could be used both for formation of goals of corporate financial strategies and in the process of improvement of state regulation of activity of securities issuers. The prospect of further studies in this direction is identification of transformation of factors of selection of the stock allocation method under conditions of revival of the stock market.

  13. Trading in Target Stocks Before Takeover Announcements: An Analysis of Stock and Option Markets

    OpenAIRE

    Marcus Clements; Harminder Singh; Antonie Van Eekelen

    2007-01-01

    In this study we examine both informed trading and contraire trading preceding takeover announcements on US target firms. Our findings suggest that both informed trading and contraire trading exists within the period preceding takeover announcements on both the stock and option markets as evident through abnormal returns and trading volumes. In regard to contraire trading, this study investigates possible explanations for its existence including liquidity clustering, falsely informed trading ...

  14. Multiscale Shannon entropy and its application in the stock market

    Science.gov (United States)

    Gu, Rongbao

    2017-10-01

    In this paper, we perform a multiscale entropy analysis on the Dow Jones Industrial Average Index using the Shannon entropy. The stock index shows the characteristic of multi-scale entropy that caused by noise in the market. The entropy is demonstrated to have significant predictive ability for the stock index in both long-term and short-term, and empirical results verify that noise does exist in the market and can affect stock price. It has important implications on market participants such as noise traders.

  15. Cuadro de stocks en empresa de gran consumo

    OpenAIRE

    Ríos Carbajal, José Ignacio

    2007-01-01

    El objetivo de este proyecto es el de conocer, localizar, clasificar y resolver los descuadres de stock entre el sistema de la empresa (SAP) y los sistemas de los operadores logísticos (Geode, Infolog, LFS 400). En la actualidad, el stock de los operadores logísticos es conocido así como el stock de la empresa, pero no existe ninguna manera de poder averiguar si ambos están cuadrados. Hacerlo de forma manual requiere de conocimientos técnicos y funcionales además de ser una tarea complicada, ...

  16. Paradigm shift or choke? The future of the Western European housing stock

    NARCIS (Netherlands)

    Thomsen, A.F.

    2010-01-01

    The 20th century saw an enormous worldwide growth of the housing stock. In particular the building boom after WW-II, during which the housing stock in most countries was multifolded, focussed the attention of the housing sector primarily to the planning and realisation of new construction; the

  17. A paradigm shift or choke? The future of Western European housing stocks

    NARCIS (Netherlands)

    Thomsen, A.

    2011-01-01

    The 20th century saw an enormous worldwide growth of the housing stock. In particular the building boom after WW-II, during which the housing stock in most countries was multifolded, focussed the attention of the housing sector primarily to the planning and realisation of new construction; the

  18. A cointegration analysis of wine stock indexes

    Directory of Open Access Journals (Sweden)

    Sabina Introvigne

    2017-12-01

    Full Text Available This paper analyzes price patterns and long-run relationships for both fine wine and non-fine wine, with the aim to highlight price dynamics and co-movements between series, and to exploit potential diversification benefits. Data are from Liv-Ex 100 Fine Wine for fine wine, the Mediobanca Global Wine Industry Share Price for normal wine, and the MSCI World Index as a proxy of the overall stock market. Engle-Granger and Johansen tests were used to detect whether and to what extent the series co-move in the long run and which one of the variables contributes proactively to such an equilibrium by reacting to disequilibria from the long-run path. The estimates highlight that i the two wine indexes have a higher Sharpe ratio compared to the general stock market index, revealing wine stocks as a profitable investment per se, and ii the absence of cointegration among the three series and the existence of possible diversification benefits. In fact, in the long-run price do not move together and, therefore, investors may be better off by including wine stocks into investment portfolios and take advantage of diversification

  19. Lebesgue Sets Immeasurable Existence

    Directory of Open Access Journals (Sweden)

    Diana Marginean Petrovai

    2012-12-01

    Full Text Available It is well known that the notion of measure and integral were released early enough in close connection with practical problems of measuring of geometric figures. Notion of measure was outlined in the early 20th century through H. Lebesgue’s research, founder of the modern theory of measure and integral. It was developed concurrently a technique of integration of functions. Gradually it was formed a specific area todaycalled the measure and integral theory. Essential contributions to building this theory was made by a large number of mathematicians: C. Carathodory, J. Radon, O. Nikodym, S. Bochner, J. Pettis, P. Halmos and many others. In the following we present several abstract sets, classes of sets. There exists the sets which are not Lebesgue measurable and the sets which are Lebesgue measurable but are not Borel measurable. Hence B ⊂ L ⊂ P(X.

  20. Towards Energy Demand Reduction in Social Housing Buildings: Envelope System Optimization Strategies

    Directory of Open Access Journals (Sweden)

    Paula M. Esquivias

    2012-07-01

    Full Text Available This work evaluates the potential for the reduction of energy demand in residential buildings by acting on the exterior envelope, both in newly constructed buildings and in the retrofitting of existing stock. It focuses on analysing social housing buildings in Mediterranean areas and on quantifying the scope of that reduction in the application of different envelope design strategies, with the purpose of prioritizing their application based on their energy efficiency. The analyses and quantifications were made by means of the generation of energy models with the TRNSYS tool for simple or combined solutions, identifying possible potentials for reduction of the energy demand from 20% to 25%, basically by acting on the windows. The case study was a newly built social housing building of a closed block type located in Seville (Spain. Its constructive techniques and the insulation level of its envelope are standardized for current buildings widespread across Mediterranean Europe.

  1. Contingent Claim-Based Expected Stock Returns

    OpenAIRE

    Nicholas Zhiyao Chen; Strebulaev, Ilya A.

    2013-01-01

    We develop and test a parsimonious contingent claims model for cross-sectional returns of stock portfolios formed on market leverage, book-to-market equity, asset growth rate, and equity size. Since stocks are residual claims on firms' assets that generate operating cash flows, stock returns are cash flow rates scaled by the sensitivities of stocks to cash flows. Our model performs well because the stock-cash flow sensitivities contain economic information. Value stocks, high-leverage stocks ...

  2. A Decision Making Tool for a Comprehensive Evaluation of Building Retrofitting Actions at the Regional Scale

    Directory of Open Access Journals (Sweden)

    Rossano Albatici

    2016-09-01

    Full Text Available Buildings in Europe account for 40% of total primary energy consumption and 36% of CO2 emissions. Nearly one-half of the building stock was built before modern energy efficiency standards and need urgent renovation. Urban retrofitting has emerged as a crucial factor for bringing about a radical change, the new construction rate being lower than 1%. Nevertheless, an accepted and consolidated methodology for refurbishing the existing housing stock is still lacking. The study presents an operating methodology for the optimization of the retrofitting process, based on energy efficiency and cost-effectiveness, as well as users’ comfort, in the building asset of ITEA SpA, the social housing institute for the Province of Trento (Italy, which manages more than 600 buildings. The research consists of the following stages: (1 definition of building classes, similar in age, dimension, typology, construction system and location; (2 analysis of plant systems and recognition of cases significant for classifying buildings in term of energy class; (3 identification of possible improvements and related cost-benefits; and (4 extension of the results to the whole building class. A tool is here proposed, intended for use by ITEA in order to set medium- and long-term plans. The tool does not consider only the effective sustainability of the controlling body intervention but also the final users’ full satisfaction.

  3. Stock return, seasonality and asymmetric conditional volatility in steel & iron subsector

    Directory of Open Access Journals (Sweden)

    V. Chirila

    2015-01-01

    Full Text Available This paper presents the results obtained following the testing of five hypotheses regarding conditional return and volatility of the most listed European stocks in the steel & iron subsector. The following elements of the stocks are analysed: time variation of volatility, seasonality of return and volatility, relationship between return and volatility and volatility asymmetry. The results obtained confirm for all the analyzed stocks the existence of volatility variation in time, the lack of correlation between return and volatility, the existence of asymmetry phenomenon of volatility and the presence in some stocks of the seasonality effect both for return and volatility.

  4. Evolutionary model of stock markets

    Science.gov (United States)

    Kaldasch, Joachim

    2014-12-01

    The paper presents an evolutionary economic model for the price evolution of stocks. Treating a stock market as a self-organized system governed by a fast purchase process and slow variations of demand and supply the model suggests that the short term price distribution has the form a logistic (Laplace) distribution. The long term return can be described by Laplace-Gaussian mixture distributions. The long term mean price evolution is governed by a Walrus equation, which can be transformed into a replicator equation. This allows quantifying the evolutionary price competition between stocks. The theory suggests that stock prices scaled by the price over all stocks can be used to investigate long-term trends in a Fisher-Pry plot. The price competition that follows from the model is illustrated by examining the empirical long-term price trends of two stocks.

  5. Hot money and China's stock market volatility: Further evidence using the GARCH-MIDAS model

    Science.gov (United States)

    Wei, Yu; Yu, Qianwen; Liu, Jing; Cao, Yang

    2018-02-01

    This paper investigates the influence of hot money on the return and volatility of the Chinese stock market using a nonlinear Granger causality test and a new GARCH-class model based on mixed data sampling regression (GARCH-MIDAS). The empirical results suggest that no linear or nonlinear causality exists between the growth rate of hot money and the Chinese stock market return, implying that the Chinese stock market is not driven by hot money and vice versa. However, hot money has a significant positive impact on the long-term volatility of the Chinese stock market. Furthermore, the dependence between the long-term volatility caused by hot money and the total volatility of the Chinese stock market is time-variant, indicating that huge volatilities in the stock market are not always triggered by international speculation capital flow and that Chinese authorities should further focus on more systemic reforms in the trading rules and on effectively regulating the stock market.

  6. Investment Plans and Stock Returns

    OpenAIRE

    Owen Lamont

    1999-01-01

    Capital expenditure plans at the beginning of the year, from a US government survey of firms, explain more than three quarters of the variation in real annual aggregate investment growth between 1948 and 1993. The negative correlation of contemporaneous investment and stock returns is explained by the negative correlation of planned investment and subsequent stock returns. Unexpected revisions to aggregate investment (actual minus plan) within a year are essentially unrelated to current stock...

  7. Statistical aspects of fish stock assessment

    DEFF Research Database (Denmark)

    Berg, Casper Willestofte

    Fish stock assessments are conducted for two main purposes: 1) To estimate past and present fish abundances and their commercial exploitation rates. 2) To predict the consequences of different management strategies in order to ensure a sustainable fishery in the future. This thesis concerns...... statistical aspects of fish stocks assessment, which includes topics such as time series analysis, generalized additive models (GAMs), and non-linear state-space/mixed models capable of handling missing data and a high number of latent states and parameters. The aim is to improve the existing methods...... on stochastic differential equations is presented. This work extends the classical approaches to biomass modelling by incorporating observation errors on the catches, and allowing for missing and non-equidistant samples in time....

  8. Decision Support for the Rolling Stock Dispatcher

    DEFF Research Database (Denmark)

    Groth, Julie Jespersen

    and planning processes of the railway operator DSB S-tog a/s. In the thesis the problems existing in the railway planning process from the strategic to real-time level are briefly sketched. Network planning, line planning, timetabling, crew and rolling stock planning is outlined and relevant references...... problem is put forward. The main contributions of the thesis are contained in four papers included as appendices. The papers deal with respectively an analysis of robustness in timetables, the mathematical model behind a decision support tool for reinsertion of a train line, a survey on the dispatching......Real-time recovery is receiving a fast growing interest in an increasingly competitive railway operation market. This thesis considers the area of rolling stock dispatching which is one of the typical real-time railway dispatching problems. All work of the thesis is based on the network...

  9. 12 CFR 925.23 - Excess stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Excess stock. 925.23 Section 925.23 Banks and... BANKS Stock Requirements § 925.23 Excess stock. (a) Sale of excess stock. Subject to the restriction in paragraph (b) of this section, a member may purchase excess stock as long as the purchase is approved by the...

  10. An Empirical Analysis Of Stock Returns And Volatility: The Case Of Stock Markets From Central And Eastern Europe

    Directory of Open Access Journals (Sweden)

    Okičić Jasmina

    2015-04-01

    Full Text Available The main goal of this paper is to investigate the behaviour of stock returns in the case of stock markets from Central and Eastern Europe (CEE, focusing on the relationship between returns and conditional volatility. Since there is relatively little empirical research on the volatility of stock returns in underdeveloped stock markets, with even fewer studies on markets in the transitional economies of the CEE region, this paper is designed to shed some light on the econometric modelling of the conditional mean and volatility of stock returns from this region. The results presented in this paper provide confirmatory evidence that ARIMA and GARCH processes provide parsimonious approximations of mean and volatility dynamics in the case of the selected stock markets. There is overwhelming evidence corroborating the existence of a leverage effect, meaning that negative shocks increase volatility more than positive shocks do. Since financial decisions are generally based upon the trade-off between risk and return, the results presented in this paper will provide valuable information in decision making for those who are planning to invest in stock markets from the CEE region.

  11. Testing for regime-switching CAPM on Zagreb Stock Exchange

    Directory of Open Access Journals (Sweden)

    Tihana Škrinjarić

    2014-12-01

    Full Text Available The standard Capital Asset Pricing Model assumes that a linear relationship exists between the risk (beta and the expected excess return of a stock. However, empirical findings have shown over the years that this relationship varies over time. Stock markets undergo phases of greater and smaller volatility in which beta varies accordingly (undergoes different regimes. Given that the Croatian capital market is still insufficiently investigated, the aim of this paper is to explore the possibility of a non-linear relationship between the stock risk and return. Linear and Markov-switching models (Hamilton 1989 are examined on the Zagreb Stock Exchange based on monthly data on 21 stocks, ranging from January 2005 to December 2013. In that way, investors can use the results based on the best model when making decisions about buying stocks. Since this is one of the first papers on regime-switching on the Croatian capital market, it will hopefully contribute to the existing literature on investing.

  12. Determinants Of Equity Prices In The Stock Market

    Directory of Open Access Journals (Sweden)

    Muhammad Usman Javaid

    2010-12-01

    Full Text Available This study examines the effect of market variables on the movement stock prices in Pakistan. Asset pricing is considered as efficient if the asset prices reflect all available market information. This study examined the extent to which some "information factors" or market indices affect the stock price. A simple regression model has been used to develop a relation between the variables (stock prices, earnings per share, gross domestic product, dividend, inflation and KIBOR after testing for multi-collinearity among the independent variables. All the variables have shown positive correlation with stock prices with some exceptions of GDP and inflation. This study has enriched the existing literature while it would help policy makers who are interested in deploying instruments of monetary policy and other economic indices for the growth of the capital market.

  13. Thermal and Economic Analysis of Renovation Strategies for a Historic Building in Mediterranean Area

    Directory of Open Access Journals (Sweden)

    Simona Cirami

    2017-07-01

    Full Text Available Around 30% of the European building stock was built before 1950, when no regulations about energy efficiency were in force. Since only a small part of them has been renovated by now, the energy performance of this building stock is on average quite poor, resulting in a significant impact on the energy balance of European countries, as confirmed by data published by ISTAT (Italian National Statistical Institute. However, energy retrofit in historic edifices is a quite demanding issue as any intervention must take into account the need to preserve existing building materials and appearances while also allowing reversibility and low invasiveness. As an example, in these buildings it is not possible to apply an ETICS (External Thermal Insulation Composite System, since this would alter the historic and architectural value of the façade. On the other hand, internal insulation would have the drawback of reducing the net useful floor area, which also implies a loss of economic value. Moreover, internal insulation may induce overheating risks and mold formation. In this paper, all these issues are investigated with reference to an existing historic building located in southern Italy, showing that a retrofit strategy aimed at energy savings and cost-effectiveness is still possible if suitable materials and solutions are adopted.

  14. Calculation of the energy balance and economic efficiency for a hired multiple dwelling unit in a stock Holbeinstrasse 3-5-7, Ruesselsheim. Final report; Energiebilanz- und Wirtschaftlichkeitsberechnungen fuer ein vermietetes Mehrfamilienhaus im Bestand Holbeinstrasse 3-5-7, Ruesselsheim. Endbericht

    Energy Technology Data Exchange (ETDEWEB)

    Enseling, Andreas; Hinz, Eberhard

    2009-01-16

    The authors of the contribution under consideration calculate the energy balance and economy for a rented multi-family house in the stock Holbein Street 3-5-7, Ruesselsheim (Federal Republic of Germany). The measured values only permit a rough estimation of the energy efficiency of the building and its heat supply system. The building with its thermal characteristics and the concept of power supply are not co-ordinated optimally. The heat requirement of the building is too high in order to be covered with renewable energy. Regarding the high capital costs an optimization potential exists during the heat supply.

  15. The Impact of Macroeconomic Fundamentals on Stock Prices Revisited: Evidence from Indian Data

    Directory of Open Access Journals (Sweden)

    Pramod Kumar NAIK

    2012-11-01

    Full Text Available The study investigates the relationships between the Indian stock market index (BSE Sensex and five macroeconomic variables, namely, industrial production index, wholesale price index, money supply, treasury bills rates and exchange rates over the period 1994:04–2011:06. Johansen’s co-integration and vector error correction model have been applied to explore the long-run equilibrium relationship between stock market index and macroeconomic variables. The analysis reveals that macroeconomic variables and the stock market index are co-integrated and, hence, a long-run equilibrium relationship exists between them. It is observed that the stock prices positively relate to the money supply and industrial production but negatively relate to inflation. The exchange rate and the short-term interest rate are found to be insignificant in determining stock prices. In the Granger causality sense, macroeconomic variable causes the stock prices in the long-run but not in the short-run. There is bidirectional causality exists between industrial production and stock prices whereas, unidirectional causality from money supply to stock price, stock price to inflation and interest rates to stock prices are found.

  16. RE-EXAMINING STOCK MARKET INTEGRATION AMONG BRICS COUNTRIES

    Directory of Open Access Journals (Sweden)

    Berzanna Seydou Ouattara

    2017-09-01

    Full Text Available The main goal of this paper is to contribute to the international investment decision making process among the BRICS countries and to the development or changes of policies in response to the dynamics in these countries. The background is important for international investors seeking diversification benefits abroad and for policy makers reacting to the developments in the aforementioned economies. Thus, the context of this paper is directed to the examination of the stock market interaction among the BRICS countries. The objective of this research paper is to analyze the existence of the short-term linkages and long-term cointegration among the BRICS markets. Augmented Dicker-Fuller (ADF and Philips-Perron tests (PP are used to analyze stationarity among the selected variables. The research applies the correlation test on the stock markets returns to investigate the degree of freedom existing among the markets. The long run and the short run are also investigated using Johansen cointegration test while the Pairwise Granger Causality and the Wald tests are applied to assess the direction of the causality between the stock market indices. The study also extends the investigation by employing the impulse response function and variance decomposition to evaluate the reaction of each stock to a shock from other stock indices. The quarterly data consisted of fifteen years from 2000 to 2015 and are exclusively composed of stock market index of selected countries. One of the key findings of the research is that the Chinese stock markets are mostly independent from other BRICS markets, implying diversification benefits for the international investors both in the short and the long run. Another important finding is that the BRICS stock markets are not cointegrated in the long run, thus, being a favorable destination for the long-term investments.

  17. Do More Economists Hold Stocks?

    DEFF Research Database (Denmark)

    Christiansen, Charlotte; Joensen, Juanna Schröter; Rangvid, Jesper

    A unique data set enables us to test the hypothesis that more economists than otherwise identical investors hold stocks due to informational advantages. We confirm that economists have a significantly higher probability of participating in the stock market than investors with any other education...

  18. Pathfinder to EXIST: ProtoEXIST

    Science.gov (United States)

    Garson, A. B., III; Allen, B.; Baker, R. G.; Barthelmy, S. D.; Burke, M.; Burnham, J.; Chammas, N.; Collins, J.; Cook, W. R.; Copete, A.; Gehrels, N.; Gauron, T.; Grindlay, J.; Harrison, F. A.; Hong, J.; Howell, J.; Krawczynski, H.; Labov, S.; Said, B.; Sheikh Sheikh, S.

    2008-04-01

    We describe the ProtoEXIST instrument, our fist-generation wide-field hard X-ray imaging (20 - 600 keV) balloon-borne telescope. The ProtoEXIST program is a pathfinder for the Energetic X-ray Imaging Survey Telescope (EXIST), a candidate for the Black Hole Finder Probe. ProtoEXIST consists of two independent coded-aperture telescopes using pixellated (2.5mm pitch) CZT detectors. The two telescopes will provide performance comparison of two shielding configurations, for optimization of the EXIST design. We report on the science goals and designs of both ProtoEXIST and EXIST and their implications for hard X-ray astronomy and astrophysics.

  19. Energy Savings Modeling of Standard Commercial Building Re-tuning Measures: Large Office Buildings

    Energy Technology Data Exchange (ETDEWEB)

    Fernandez, Nicholas; Katipamula, Srinivas; Wang, Weimin; Huang, Yunzhi; Liu, Guopeng

    2012-06-01

    Today, many large commercial buildings use sophisticated building automation systems (BASs) to manage a wide range of building equipment. While the capabilities of BASs have increased over time, many buildings still do not fully use the BAS's capabilities and are not properly commissioned, operated or maintained, which leads to inefficient operation, increased energy use, and reduced lifetimes of the equipment. This report investigates the energy savings potential of several common HVAC system retuning measures on a typical large office building prototype model, using the Department of Energy's building energy modeling software, EnergyPlus. The baseline prototype model uses roughly as much energy as an average large office building in existing building stock, but does not utilize any re-tuning measures. Individual re-tuning measures simulated against this baseline include automatic schedule adjustments, damper minimum flow adjustments, thermostat adjustments, as well as dynamic resets (set points that change continuously with building and/or outdoor conditions) to static pressure, supply air temperature, condenser water temperature, chilled and hot water temperature, and chilled and hot water differential pressure set points. Six combinations of these individual measures have been formulated - each designed to conform to limitations to implementation of certain individual measures that might exist in typical buildings. All of these measures and combinations were simulated in 16 cities representative of specific U.S. climate zones. The modeling results suggest that the most effective energy savings measures are those that affect the demand-side of the building (air-systems and schedules). Many of the demand-side individual measures were capable of reducing annual HVAC system energy consumption by over 20% in most cities that were modeled. Supply side measures affecting HVAC plant conditions were only modestly successful (less than 5% annual HVAC energy

  20. Essays on Stock Issuance

    DEFF Research Database (Denmark)

    Kohl, Niklas

    Firms which issue new equity subsequently have lower returns than other firms, but does the strength of the issuance effect vary in the cross section of firms? The essay shows, that US firms with characteristics that makes them “hard to value” have returns which are strongly related to their past...... issuance activity, while the return of “easy to value” firms are less related to their past issuance activity. In most cases the difference between “hard to value” and “easy to value” firms are signiffcant. As proxies for “hard to value”, I use three different types of firm characteristics. First, I...... consider firms for which relatively little information is available as “hard to value”. Examples are firms covered by few analysts and small firms. Second, I consider firms with high levels of analyst disagreement on stock price target, next quarter earnings per share and share recommendation as “hard...

  1. Distribution characteristics of stock market liquidity

    Science.gov (United States)

    Luo, Jiawen; Chen, Langnan; Liu, Hao

    2013-12-01

    We examine the distribution characteristics of stock market liquidity by employing the generalized additive models for location, scale and shape (GAMLSS) model and three-minute frequency data from Chinese stock markets. We find that the BCPE distribution within the GAMLSS framework fits the distributions of stock market liquidity well with the diagnosis test. We also find that the stock market index exhibits a significant impact on the distributions of stock market liquidity. The stock market liquidity usually exhibits a positive skewness, but a normal distribution at a low level of stock market index and a high-peak and fat-tail shape at a high level of stock market index.

  2. Causal nexus of foreign stock prices on the Philippine stocks exchange composite index

    Directory of Open Access Journals (Sweden)

    Reynaldo C. Castro

    2016-12-01

    Full Text Available This study investigates the predictive relationship existing between the Philippine Stocks Exchange Index (PSEI and the foreign stock markets. historical data of the daily closing prices of the stock markets (s&p500 of the united states, Nikkei of Japan, Sensex of India, Shcomp of China, STI of Singapore, KLSE of Malaysia, and HKSE of hong kong covering January 4, 2002 to January 29, 2016 (n=3,411 observations were estimated using the Ordinary Least Squares (OLS regression equation, having the PSEI of the Philippines as the predicted variable. It was found out that the foreign stock markets are highly correlated with the PSE. Moreover, OLS regression revealed that an increase of the daily closing prices of s&p500 of United States, Nikkei of Japan, Sensex of India and STI of Singapore increases the value of the PSEI but decreases upon the appreciation of Shcomp of china and the HKSE of Hong Kong. Meanwhile, KLSE of Malaysia yielded no statistical significance towards the PSEI.

  3. The Book-to-Market Anomaly in the Chinese Stock Markets

    Directory of Open Access Journals (Sweden)

    Kin-Yip Ho

    2015-09-01

    Full Text Available This paper examines the existence of value premium in the Chinese stock markets and empirically provides its explanation. Our results suggest that the value premium does exist in the Chinese markets, and investor sophistication is significant in explaining its existence. In particular, there is supporting evidence that the value premium could be driven by individual investors, whereas stocks that are mostly held by institutional investors are value-premium free. We briefly discuss the implications of our findings.

  4. Assessment of Energy Impact of Window Technologies for Commercial Buildings

    Energy Technology Data Exchange (ETDEWEB)

    Hong, Tianzhen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Environmental Energy Technologies Division; Selkowitz, Stephen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Environmental Energy Technologies Division; Yazdanian, Mehry [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Environmental Energy Technologies Division

    2009-10-01

    Windows play a significant role in commercial buildings targeting the goal of net zero energy. This report summarizes research methodology and findings in evaluating the energy impact of windows technologies for commercial buildings. The large office prototypical building, chosen from the DOE commercial building benchmarks, was used as the baseline model which met the prescriptive requirements of ASHRAE Standard 90.1-2004. The building simulations were performed with EnergyPlus and TMY3 weather data for five typical US climates to calculate the energy savings potentials of six windows technologies when compared with the ASHRAE 90.1-2004 baseline windows. The six windows cover existing, new, and emerging technologies, including ASHRAE 189.1 baseline windows, triple pane low-e windows, clear and tinted double pane highly insulating low-e windows, electrochromic (EC) windows, and highly insulating EC windows representing the hypothetically feasible optimum windows. The existing stocks based on average commercial windows sales are included in the analysis for benchmarking purposes.

  5. Energy Performance of Verandas in the Building Retrofit Process

    Directory of Open Access Journals (Sweden)

    Rossano Albatici

    2016-05-01

    Full Text Available Passive solar elements for both direct and indirect gains, are systems used to maintain a comfortable living environment while saving energy, especially in the building energy retrofit and adaptation process. Sunspaces, thermal mass and glazing area and orientation have been often used in the past to guarantee adequate indoor conditions when mechanical devices were not available. After a period of neglect, nowadays they are again considered as appropriate systems to help face environmental issues in the building sector, and both international and national legislation takes into consideration the possibility of including them in the building planning tools, also providing economic incentives. Their proper design needs dynamic simulation, often difficult to perform and time consuming. Moreover, results generally suffer from several uncertainties, so quasi steady-state procedures are often used in everyday practice with good results, but some corrections are still needed. In this paper, a comparative analysis of different solutions for the construction of verandas in an existing building is presented, following the procedure provided by the slightly modified and improved Standard EN ISO 13790:2008. Advantages and disadvantages of different configurations considering thermal insulation, windows typology and mechanical ventilation systems are discussed and a general intervention strategy is proposed. The aim is to highlight the possibility of using sunspaces in order to increase the efficiency of the existing building stock, considering ease of construction and economic viability.

  6. The role of BIM (Building Information Modeling for representation and managing of built and historic artifacts

    Directory of Open Access Journals (Sweden)

    Carlo Bianchini

    2016-06-01

    Full Text Available It’s established that in the design and construc- tion of new buildings, BIM is a fundamental refe- rence especially when the standardization is the typical character of the project. As Architecture, with the management of the entire building pro- cess, requires standardization for greater eco- nomy, thanks to BIM tools the building process seems to have actually moved to a 2.0 phase; on the contrary, when BIM is applied to historical bu- ildings it still reveals not so adequate. In this framework, this paper will not discuss the differences between CAD and BIM or the un- doubted potential of BIM software from a tech- nical or operational standpoint; we would focus instead on the implication of BIM referring to the Representation disciplines and to the issues con- nected with its application to the existing built stock and especially to historic buildings

  7. Seasonal Trends in Lithuanian Stock Market

    Directory of Open Access Journals (Sweden)

    Žaneta Simanavičienė

    2013-11-01

    Full Text Available Purpose of the article is to disentangle different calendar effects which leave efficiency holes in Lithuanian market. This paper presents and tests if commonly described seasonal patterns exist in Lithuanian stock market. Analysis of three different sections: period-of-the-year; week-of-the-month and day-of-the-week, suggests that calendar effects do exist in this market. The multitude of explanations for the seasonal effect leaves the reader confused about its primary cause(s: is it tax-loss selling, window dressing, information, bid-ask bounce, or a combination of these causes? The confusion arises, in part, because evidence has generally been presented in support of a particular hypothesis though the same evidence may be consistent with another hypothesis. Methodology/methods are logical and systemic analysis of research literature based on the comparative and generalization methods as well as statistical methods. Scientific aim of the article is the lack of arguments questioning if market prices operating system is fully effective. Novelty of the paper is to the answer to the question what seasonal anomalies are also present in the stock market of new open economy countries. Findings show that using this modified strategy investor could achieve 20.7% compounded annual growth rate versus 7.8% achieved using simply holding stocks throughout. The hypothesis asserts that returns generally will be greater following the “January effect”. There is limited amount of data for constructing robust seasonal strategies so we modified Buy and Hold strategy with simple rules of using best and worst months to show how they influence OMXV index performance. In the conclusions, empirical results using stock index returns for 2000 - 2010 support the hypothesis in Lithuaian stock market. Abnormal activity of OMXV index’s performance is found in the end of summer and throughout autumn. August is best performer of the year while October is

  8. Day-of-the-Week and Month-of-the-Year Effect on the Kenyan Stock ...

    African Journals Online (AJOL)

    The purpose of this study was to determine if daily and monthly seasonal anomalies do exist in the Kenyan stock market. Data on prices and adjusted returns derived from the NSE 20 index were analysed using regression analysis to identify the behaviour of stock investors in Kenya during 1980-2006. Results indicate that

  9. Price performance following stock's IPO in different price limit systems

    Science.gov (United States)

    Wu, Ting; Wang, Yue; Li, Ming-Xia

    2018-01-01

    An IPO burst occurred in China's stock markets in 2015, while price limit trading rules usually help to reduce the short-term trading mania on individual stocks. It is interesting to make clear the function of the price limits after IPOs. We firstly make a statistical analysis based on all the IPO stocks listed from 1990 to 2015. A high dependency exists between the activities in stock's IPO and various market environment. We also focus on the price dynamics in the first 40 trading days after the stock listed. We find that price limit system will delay the price movement, especially for the up-trend movements, which may lead to longer continuous price limit hits. Similar to our previous work, many results such as ;W; shape can be also observed in the future daily return after the price limit open. At last, we find most IPO measures show evident correlations with the following price limit hits. IPO stocks with lower first-day turnover and earning per share will be followed with a longer continuous price limit hits and lower future daily return under the newest trading rules, which give us a good way to estimate the occurrence of price limit hits and the following price dynamics. Our analysis provides a better understanding of the price dynamics after IPO events and offers potential practical values for investors.

  10. An econometric model of the South African stock market

    Directory of Open Access Journals (Sweden)

    E Moolman

    2015-01-01

    Full Text Available A wealth of literature exists concerning the modelling of stock markets, as well as the examination of the relationshiop between share price and various economic factors, both theoretically and empirically.  However, most studies use data for developed countries in their analyses, while the literature moselling emerging stock markets in general, and the south African stock market in particular, is quite sparse.  This study develops a structural theoretically founded model of the South African stock market that is estimated using co-integration and error-correction techniques. These techniques respectively estimate the long-term equilibrium or intrinsic value of the stock market, and the short-term fluctuations around the quilibrium level. According to the results, share prices are co-integrated with the variables dictated by the expected present value model of asset price determination.  The short-term fluctuations are determined by various factors such as interest rates, a risk premium, the exchange rate, foreign stock market adn other variables.

  11. Quantifying the effect of investors’ attention on stock market

    Science.gov (United States)

    Yang, Zhen-Hua; Liu, Jian-Guo; Yu, Chang-Rui; Han, Jing-Ti

    2017-01-01

    The investors’ attention has been extensively used to predict the stock market. Different from existing proxies of the investors’ attention, such as the Google trends, Baidu index (BI), we argue the collective attention from the stock trading platforms could reflect the investors’ attention more closely. By calculated the increments of the attention volume for each stock (IAVS) from the stock trading platforms, we investigate the effect of investors’ attention measured by the IAVS on the movement of the stock market. The experimental results for Chinese Securities Index 100 (CSI100) show that the BI is significantly correlated with the returns of CSI100 at 1% significance level only in 2014. However, it should be emphasized that the correlation of the new proposed measure, namely IAVS, is significantly at 1% significance level in 2014 and 2015. It shows that the effect of the measure IAVS on the movement of the stock market is more stable and significant than BI. This study yields important invest implications and better understanding of collective investors’ attention. PMID:28542216

  12. Quantifying the effect of investors' attention on stock market.

    Science.gov (United States)

    Yang, Zhen-Hua; Liu, Jian-Guo; Yu, Chang-Rui; Han, Jing-Ti

    2017-01-01

    The investors' attention has been extensively used to predict the stock market. Different from existing proxies of the investors' attention, such as the Google trends, Baidu index (BI), we argue the collective attention from the stock trading platforms could reflect the investors' attention more closely. By calculated the increments of the attention volume for each stock (IAVS) from the stock trading platforms, we investigate the effect of investors' attention measured by the IAVS on the movement of the stock market. The experimental results for Chinese Securities Index 100 (CSI100) show that the BI is significantly correlated with the returns of CSI100 at 1% significance level only in 2014. However, it should be emphasized that the correlation of the new proposed measure, namely IAVS, is significantly at 1% significance level in 2014 and 2015. It shows that the effect of the measure IAVS on the movement of the stock market is more stable and significant than BI. This study yields important invest implications and better understanding of collective investors' attention.

  13. Coupling detrended fluctuation analysis of Asian stock markets

    Science.gov (United States)

    Wang, Qizhen; Zhu, Yingming; Yang, Liansheng; Mul, Remco A. H.

    2017-04-01

    This paper uses the coupling detrended fluctuation analysis (CDFA) method to investigate the multifractal characteristics of four Asian stock markets using three stock indices: stock price returns, trading volumes and the composite index. The results show that coupled correlations exist among the four stock markets and the coupled correlations have multifractal characteristics. We then use the chi square (χ2) test to identify the sources of multifractality. For the different stock indices, the contributions of a single series to multifractality are different. In other words, the contributions of each country to coupled correlations are different. The comparative analysis shows that the research on the combine effect of stock price returns and trading volumes may be more comprehensive than on an individual index. By comparing the strength of multifractality for original data with the residual errors of the vector autoregression (VAR) model, we find that the VAR model could not be used to describe the dynamics of the coupled correlations among four financial time series.

  14. Community monitoring of carbon stocks for REDD+

    DEFF Research Database (Denmark)

    Brofeldt, Søren; Theilade, Ida; Burgess, Neil David

    2014-01-01

    Reducing emissions from deforestation and forest degradation in developing countries, and the role of conservation, sustainable management of forests, and enhancement of forest carbon stocks in developing countries (REDD+) is a potentially powerful international policy mechanism that many tropical......-effectively monitor forest biomass. At the same time, this can improve local ownership and forge important links between monitoring activities and local decision-making. Existing studies have, however, been static assessments of biomass at one point in time. REDD+ programs will require repeated surveys of biomass...

  15. Stock Market Liquidity: A Case Study of Karachi Stock Exchange

    Directory of Open Access Journals (Sweden)

    Hakim Ali Kanasro

    2009-06-01

    Full Text Available A market is to be considered as liquid when large transactions are executed with a small impact on price. This paper identifies the position of stock market liquidity at Karachi Stock Exchange (KSE during the period from 1985 to 2006. The analysis is based on using annual data of the listed firms at KSE and the data available on economic survey of the Government of Pakistan and other sources. For measurements of liquidity at KSE we have used three measuring tools as; Liquidity Analysis, Turnover Ratio and Size of Market to determine the liquidity issues at KSE. We provide the evidences of less stock market liquidity or to say illiquidity at Karachi Stock Exchange during the sample period. Consequently, market is still for behind in its efficiency, especially in liquidity hence it fails to attract new investors. We find that less liquidity causes less synchronicity in prices attracting less inventors and results is low size of market.

  16. EFFECT OF INVESTOR SENTIMENT ON FUTURE RETURNS IN THE NIGERIAN STOCK MARKET

    Directory of Open Access Journals (Sweden)

    Udoka Bernard Alajekwu

    2017-06-01

    Full Text Available The study examined the effect of investor sentiment on future returns in the Nigerian stock market. The OLS regression and granger causality techniques were employed for data analyses. The results showed that (1 investor sentiment has a significant positive effect on stock market returns even after control for fundamentals such as Industrial production index, consumer price index and Treasury bill rate; (2 there is a uni-directional causality that runs from change in investor sentiment (ΔCCI to stock market returns (Rm. Derived finding showed that the inclusion of fundamentals increased the explanatory power of investor sentiment from 3.96% to 33.05%, though at both level, investor sentiment (ΔCCI has low explanatory power on stock market returns. The study posits existence of a dynamic relationship between investor sentiment and the behaviour of stock future returns in Nigeria such that higher sentiment concurrently leads to higher stock prices.

  17. Reducing Energy Use in Existing Homes by 30%: Learning From Home Performance with ENERGY STAR

    Energy Technology Data Exchange (ETDEWEB)

    Liaukus, C.

    2014-12-01

    The improvement of existing homes in the United States can have a much greater impact on overall residential energy use than the construction of highly efficient new homes. There are over 130 million existing housing units in the U.S., while annually new construction represents less than two percent of the total supply (U.S. Census Bureau, 2013). Therefore, the existing housing stock presents a clear opportunity and responsibility for Building America (BA) to guide the remodeling and retrofit market toward higher performance existing homes. There are active programs designed to improve the energy performance of existing homes. Home Performance with ENERGY STAR (HPwES) is a market-rate program among them. BARA's research in this project verified that the New Jersey HPwES program is achieving savings in existing homes that meet or exceed BA's goal of 30%. Among the 17 HPwES projects with utility data included in this report, 15 have actual energy savings ranging from 24% to 46%. Further, two of the homes achieved that level of energy savings without the costly replacement of heating and cooling equipment, which indicates that less costly envelope packages could be offered to consumers unable to invest in more costly mechanical packages, potentially creating broader market impact.

  18. Stock Market Linkages in Emerging Asia-Pacific Markets

    Directory of Open Access Journals (Sweden)

    Srinivasan Palamalai

    2013-11-01

    Full Text Available This study examines the stock market integration among major stock markets of emerging Asia-Pacific economies, viz. India, Malaysia, Hong Kong, Singapore, South Korea, Taiwan, Japan, China, and Indonesia. The Johansen and Juselius multivariate cointegration test, Granger causality/Block exogeneity Wald test based on the vector error correction model (VECM approach, and variance decomposition analysis were used to investigate the dynamic linkages between markets. Cointegration test confirmed a well-defined long-run equilibrium relationship among the major stock markets, implying that there exists a common force, such as arbitrage activity, which brings these stock markets together in the long run. The results of Granger causality/Block exogeneity Wald test based on VECM and variance decomposition analysis revealed the stock market interdependencies and dynamic interactions among the selected emerging Asia-Pacific economies. This result implies that investors can gain feasible benefits from international portfolio diversification in the short run. On the whole, the study results suggest that although long-term diversification benefits from exposure to these markets might be limited, short-run benefits might exist due to substantial transitory fluctuations.

  19. Integrated refurbishment planning for sustainable office buildings

    NARCIS (Netherlands)

    Ebbert, T.

    2012-01-01

    Europe's cities are full of office buildings which are technically and visually outdated. Research has demonstrated that more than 60% of German office stock is in acute need for refurbishment. Building planning needs intelligent approaches to façade refurbishment in order to tackle this enormous

  20. Changes In Stock Returns And Trading Volume Of American Depositary Receipts Around Their U.S. Stock Exchange Listing Switches

    National Research Council Canada - National Science Library

    Kam C Chan; Annie Wong

    2012-01-01

    .... stock exchange to a more prestigious U.S. stock exchange; namely from the NASDAQ or American Stock Exchange to the New York Stock Exchange or from the American Stock Exchange to the NASDAQ since year 2000...

  1. Stocks low, marketers confident

    Energy Technology Data Exchange (ETDEWEB)

    Mantho, M. [ed.

    1997-01-01

    This has been a nerve wracking season as we looked at inadequate inventory spurring prices ever upward. We have watched the American Petroleum Association`s figures on refiner stocks with considerable dismay as they consistantly fell behind year ago inventory. The anxiety extended to how much oil was in marketers` bulkplants and finally in customer tanks. And so, we asked our reporting panel to help us get a fix on how much oil was available for our customers. We asked the questions in early November and so all our figures are for that month. First we asked the capacity of their bulk tanks. And then how many gallons they had on hand November 1, 1996 and the same date of 1995. From these figures, we were able to get estimates of oil inventories. Marketers bulk tanks were 47.5% filled on November 1 which meant that there was on hand at this level, 36 gallons of heating oil for each customer. At that point in the season, customer tanks were 58% filled which translated into 218 gallons.

  2. Disagreement and the Stock Market

    National Research Council Canada - National Science Library

    Hong, Harrison; Stein, Jeremy C

    2007-01-01

    ...); we also see longer-run fundamental reversion—the tendency for "glamour" stocks with high ratios of market value to earnings, cashflows, or book value to deliver weak returns over the subsequent several years...

  3. Based on BP Neural Network Stock Prediction

    Science.gov (United States)

    Liu, Xiangwei; Ma, Xin

    2012-01-01

    The stock market has a high profit and high risk features, on the stock market analysis and prediction research has been paid attention to by people. Stock price trend is a complex nonlinear function, so the price has certain predictability. This article mainly with improved BP neural network (BPNN) to set up the stock market prediction model, and…

  4. 12 CFR 725.5 - Capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Capital stock. 725.5 Section 725.5 Banks and... ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.5 Capital stock. (a) The capital stock of the Facility is divided... or hypothecated except to the Facility. (b) The capital stock subscriptions provided for in §§ 725.3...

  5. Mapping the accrual anomaly in the Dutch stock market

    NARCIS (Netherlands)

    Hoefsloot, P.; Georgakopoulos, G.; Sotiropoulos, I.; Galanou, A.

    2012-01-01

    This paper investigates the existence of the accrual anomaly on the Dutch stock market. We find statistical evidence to accept that the cash flow component of current earnings is significantly more persistent than the accrual component of current earnings. When applying a trading strategy a

  6. Contagion and REIT Stock Prices

    OpenAIRE

    Chinmoy Ghosh; Randall S. Guttery; C. F. Sirmans

    1998-01-01

    This article investigates the contagious movement of real estate investment trust (REIT) stock prices in response to real estate news related to financial institutions' real estate portfolios. The basic hypothesis is that because real estate assets are traded infrequently, the market has incomplete information about their true value; thus, REIT stock prices react negatively to announcements of poorly performing real estate portfolios of financial institutions. Consistent with the hypothesis, ...

  7. Stock-outs of essential health products in Mozambique - longitudinal analyses from 2011 to 2013.

    Science.gov (United States)

    Wagenaar, Bradley H; Gimbel, Sarah; Hoek, Roxanne; Pfeiffer, James; Michel, Cathy; Manuel, João Luis; Cuembelo, Fatima; Quembo, Titos; Afonso, Pires; Gloyd, Stephen; Sherr, Kenneth

    2014-07-01

    To assess the relationship between health system factors and facility-level EHP stock-outs in Mozambique. Service provisions were assessed in 26 health facilities and 13 district warehouses in Sofala Province, Mozambique, from July to August in 2011-2013. Generalised estimating equations were used to model factors associated with facility-level availability of essential drugs, supplies and equipment. Stock-out rates for drugs ranged from 1.3% for oral rehydration solution to 20.5% for Depo-Provera and condoms, with a mean stock-out rate of 9.1%; mean stock-out rates were 15.4% for supplies and 4.1% for equipment. Stock-outs at the district level accounted for 27.1% (29/107) of facility-level drug stock-outs and 44.0% (37/84) of supply stock-outs. Each 10-km increase in the distance from district distribution warehouses was associated with a 31% (CI: 22-42%), 28% (CI: 17-40%) or 27% (CI: 7-50%) increase in rates of drug, supply or equipment stock-outs, respectively. The number of heath facility staff was consistently negatively associated with the occurrence of stock-outs. Facility-level stock-outs of EHPs in Mozambique are common and appear to disproportionately affect those living far from district capitals and near facilities with few health staff. The majority of facility-level EHP stock-outs in Mozambique occur when stock exists at the district distribution centre. Innovative methods are urgently needed to improve EHP supply chains, requesting and ordering of drugs, facility and district communication, and forecasting of future EHP needs in Mozambique. Increased investments in public-sector human resources for health could potentially decrease the occurrence of EHP stock-outs. © 2014 John Wiley & Sons Ltd.

  8. Pattern-set generation algorithm for the one-dimensional multiple stock sizes cutting stock problem

    Science.gov (United States)

    Cui, Yaodong; Cui, Yi-Ping; Zhao, Zhigang

    2015-09-01

    A pattern-set generation algorithm (PSG) for the one-dimensional multiple stock sizes cutting stock problem (1DMSSCSP) is presented. The solution process contains two stages. In the first stage, the PSG solves the residual problems repeatedly to generate the patterns in the pattern set, where each residual problem is solved by the column-generation approach, and each pattern is generated by solving a single large object placement problem. In the second stage, the integer linear programming model of the 1DMSSCSP is solved using a commercial solver, where only the patterns in the pattern set are considered. The computational results of benchmark instances indicate that the PSG outperforms existing heuristic algorithms and rivals the exact algorithm in solution quality.

  9. Energy management systems in buildings

    Energy Technology Data Exchange (ETDEWEB)

    Lush, D.M.

    1979-07-01

    An investigation is made of the range of possibilities available from three types of systems (automatic control devices, building envelope, and the occupants) in buildings. The following subjects are discussed: general (buildings, design and personnel); new buildings (envelope, designers, energy and load calculations, plant design, general design parameters); existing buildings (conservation measures, general energy management, air conditioned buildings, industrial buildings); man and motivation (general, energy management and documentation, maintenance, motivation); automatic energy management systems (thermostatic controls, optimized plant start up, air conditioned and industrial buildings, building automatic systems). (MCW)

  10. Gold versus stock investment: An econometric analysis

    OpenAIRE

    Martin Surya Mulyadi; Yunita Anwar

    2012-01-01

    It is important to have a portfolio in investment to diversify the investment to different kinds of instruments. Based on previous research, it is concluded that gold is a good portfolio diversifier, a hedge against stock and safe haven in extreme stock market condition. As an investment instrument, stock is exposed to macroeconomic risks and global stock market risks. In this research, we conduct a comparison between the stock investment and gold investment by using the probit econometric mo...

  11. Focus on Energy Security. Costs, Benefits and Financing of Holding Emergency Oil Stocks

    Energy Technology Data Exchange (ETDEWEB)

    Stelter, Jan; Nishida, Yuichiro

    2013-07-01

    Oil is traded in a market where uncertainty, price volatility, and sudden supply disruptions are common characteristics. Natural disasters, political disagreements and wars can seriously disrupt oil supply and demand with consequent detrimental impacts on economic activity. One particularly powerful policy tool that IEA member countries have to respond to such disruptions is the release of emergency oil stocks. In its 40 year history, the IEA released stocks on three occasions to reduce the supply disruptions and the associated economic damage. This paper provides a general guide to the existing emergency stockholding system for those countries who are considering the introduction of new stockholding systems or changes to their existing emergency stocks. It draws together analysis of the costs and benefits of emergency stocks, in addition to exploring options for financing the establishment of stocks.

  12. Characteristics and Performance of Existing Load Disaggregation Technologies

    Energy Technology Data Exchange (ETDEWEB)

    Mayhorn, Ebony T. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Sullivan, Greg P. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Butner, Ryan S. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Hao, He [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Baechler, Michael C. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States)

    2015-04-10

    of NILM that make them attractive for certain building environments and different classes of end-users. The intent of this report is to raise awareness of trending NILM approaches. Additionally, three existing technologies were acquired and evaluated using the Residential Building Stock Assessment (RBSA) owner-occupied test bed operated by the Northwest Energy Efficiency Alliance (NEEA) to understand performance accuracy of current NILM products under realistic conditions. Based on this field study experience, the characteristics exhibited by the NILM products included in the assessment are also discussed in this report in terms of ease of use, ease of installation, ability to inform decisions and actions. Results of the analysis performed to investigate the accuracy of the participating NILM products in estimating energy use of individual appliances are also presented.

  13. Classifying Returns as Extreme: European Stock and Bond Markets

    DEFF Research Database (Denmark)

    Christiansen, Charlotte

    whereby a shorter sample period is needed. For the bond markets the simultaneous extreme return variable (used for analyzing integration and contagion of financial markets) is not statistically different for the two schemes. For the stock markets there are differences, but they are disappearing......I consider the stock and bond markets of 14 EU countries. I use two classification schemes for defining extreme returns: One, the existing univariate classification scheme which considers each market separately. Two, the new multivariate classification scheme that considers all the markets jointly...

  14. One-dimensional Cutting Stock Problem with Divisible Items

    OpenAIRE

    Tanir, Deniz; Ugurlu, Onur; Guler, Asli; Nuriyev, Urfat

    2016-01-01

    This paper considers the one-dimensional cutting stock problem with divisible items, which is a new problem in the cutting stock literature. The problem exists in steel industries. In the new problem, each item can be divided into smaller pieces, then they can be recombined again by welding. The objective is to minimize both the trim loss and the number of the welds. We present a mathematical model and a dynamic programming based heuristic for the problem. Furthermore, a software, which is ba...

  15. Development of a plastic rotary heat exchanger for room-based ventilation in existing apartments

    DEFF Research Database (Denmark)

    Smith, Kevin Michael; Svendsen, Svend

    2015-01-01

    for single-room ventilation based on thermal design theory. Performance is predicted from correlations of dimensionless groups for regenerative heat exchangers, and this guides the selection of a polycarbonate honeycomb with small circular channels. Experiments quantify flows and determine temperature......The existing building stock will likely undergo widespread energy renovations to meet future emissions targets. Single-room ventilation may enable the process due to its simple installation, low fan power, and potential for local heat recovery. A short plastic rotary heat exchanger is developed...... efficiencies at several ventilation rates while accounting for heat gains from motors and air leakage. The measured and modelled temperature efficiencies show adequate agreement and exceed 80% for a balanced nominal ventilation rate of 28m3/h. This result meets the development criteria but cannot validate...

  16. State-of-the-art study on standards for the restoration of existing buildings; State of the Art Studie 'Standards fuer Sanierungen von Bestandsgebaeuden'. Vorbereitende Studie zum 'Energy and GHG Optimised Building Renovation' new annex proposal - Schlussbericht

    Energy Technology Data Exchange (ETDEWEB)

    Cypra, S.

    2009-07-01

    This final report for the Swiss Federal Office of Energy (SFOE) discusses the results of a preliminary study on energy and greenhouse-gas optimised building renovation. The proposals are based on the building standards proposed under the '2000-Watt Society' and 'One-Tonne CO{sub 2} Society' proposals. Comparisons are made with Swiss official building standards as well as Swiss and international standards for zero-energy and passive housing. These standards and requirements are discussed in detail and examples of buildings built to meet them are described. Building standards based on sustainability standards are also discussed and compared. The methodology to be used with respect to single-family homes and apartment blocks is discussed. Finally, knowledge gaps are identified and appropriate literature is listed.

  17. Multiscale Detrended Cross-Correlation Analysis of STOCK Markets

    Science.gov (United States)

    Yin, Yi; Shang, Pengjian

    2014-06-01

    In this paper, we employ the detrended cross-correlation analysis (DCCA) to investigate the cross-correlations between different stock markets. We report the results of cross-correlated behaviors in US, Chinese and European stock markets in period 1997-2012 by using DCCA method. The DCCA shows the cross-correlated behaviors of intra-regional and inter-regional stock markets in the short and long term which display the similarities and differences of cross-correlated behaviors simply and roughly and the persistence of cross-correlated behaviors of fluctuations. Then, because of the limitation and inapplicability of DCCA method, we propose multiscale detrended cross-correlation analysis (MSDCCA) method to avoid "a priori" selecting the ranges of scales over which two coefficients of the classical DCCA method are identified, and employ MSDCCA to reanalyze these cross-correlations to exhibit some important details such as the existence and position of minimum, maximum and bimodal distribution which are lost if the scale structure is described by two coefficients only and essential differences and similarities in the scale structures of cross-correlation of intra-regional and inter-regional markets. More statistical characteristics of cross-correlation obtained by MSDCCA method help us to understand how two different stock markets influence each other and to analyze the influence from thus two inter-regional markets on the cross-correlation in detail, thus we get a richer and more detailed knowledge of the complex evolutions of dynamics of the cross-correlations between stock markets. The application of MSDCCA is important to promote our understanding of the internal mechanisms and structures of financial markets and helps to forecast the stock indices based on our current results demonstrated the cross-correlations between stock indices. We also discuss the MSDCCA methods of secant rolling window with different sizes and, lastly, provide some relevant implications and

  18. Trends in Public Library Buildings.

    Science.gov (United States)

    Holt, Raymond M.

    1987-01-01

    Review of trends in public library buildings covers cycles in building activity; financial support; site selection; expansion, remodeling, or conversion of existing buildings; size of buildings; and such architectural concerns as flexible space, lighting, power, accommodation of computer systems, heat and ventilation, fire protection, security,…

  19. The Predictability of Aggregate Stock Market Returns: Evidence Based on Glamour Stocks

    OpenAIRE

    Venkat R. Eleswarapu

    2004-01-01

    We find that annual excess returns on the stock market index are negatively related to the returns of glamour stocks in the previous 36-month period. In contrast, neither returns of value stocks nor aggregate stock market returns, purged of glamour stock effects, have any predictive power. In addition, the excess returns on the aggregate market are negatively skewed when the prior returns of glamour stocks are high. Finally, the inclusion of term premium, default premium, aggregate dividend y...

  20. Analysis of network clustering behavior of the Chinese stock market

    Science.gov (United States)

    Chen, Huan; Mai, Yong; Li, Sai-Ping

    2014-11-01

    Random Matrix Theory (RMT) and the decomposition of correlation matrix method are employed to analyze spatial structure of stocks interactions and collective behavior in the Shanghai and Shenzhen stock markets in China. The result shows that there exists prominent sector structures, with subsectors including the Real Estate (RE), Commercial Banks (CB), Pharmaceuticals (PH), Distillers&Vintners (DV) and Steel (ST) industries. Furthermore, the RE and CB subsectors are mostly anti-correlated. We further study the temporal behavior of the dataset and find that while the sector structures are relatively stable from 2007 through 2013, the correlation between the real estate and commercial bank stocks shows large variations. By employing the ensemble empirical mode decomposition (EEMD) method, we show that this anti-correlation behavior is closely related to the monetary and austerity policies of the Chinese government during the period of study.

  1. Building America Case Study: Retrofitting a 1960s Split-Level, Cold-Climate Home, Westport, Connecticut; Whole-House Solutions for Existing Homes, Energy Efficiency & Renewable Energy (EERE)

    Energy Technology Data Exchange (ETDEWEB)

    None

    2015-08-01

    ??National programs such as Home Performance with ENERGY STAR(R) and numerous other utility air sealing programs have brought awareness to homeowners of the benefits of energy efficiency retrofits. Yet, these programs tend to focus on the low-hanging fruit: air-sealing the thermal envelope and ductwork where accessible, switch to efficient lighting, and low-flow fixtures. At the other end of the spectrum, deep-energy retrofit programs are also being encouraged by various utilities across the country. While deep energy retrofits typically seek 50% energy savings, they are often quite costly and most applicable to gut-rehab projects. A significant potential for lowering energy usage in existing homes lies between the low hanging fruit and deep energy retrofit approaches - retrofits that save approximately 30% in energy over the existing conditions. A key is to be non-intrusive with the efficiency measures so the retrofit projects can be accomplished in occupied homes. This cold climate retrofit project involved the design and optimization of a home in Connecticut that sought to improve energy savings by at least 30% (excluding solar PV) over the existing home's performance. This report documents the successful implementation of a cost-effective solution package that achieved performance greater than 30% over the pre-retrofit - what worked, what did not, and what improvements could be made. Confirmation of successfully achieving 30% source energy savings over the pre-existing conditions was confirmed through energy modeling and comparison of the utility bills pre- and post- retrofit.

  2. Stock and option portfolio using fuzzy logic approach

    Science.gov (United States)

    Sumarti, Novriana; Wahyudi, Nanang

    2014-03-01

    Fuzzy Logic in decision-making process has been widely implemented in various problems in industries. It is the theory of imprecision and uncertainty that was not based on probability theory. Fuzzy Logic adds values of degree between absolute true and absolute false. It starts with and builds on a set of human language rules supplied by the user. The fuzzy systems convert these rules to their mathematical equivalents. This could simplify the job of the system designer and the computer, and results in much more accurate representations of the way systems behave in the real world. In this paper we examine the decision making process of stock and option trading by the usage of MACD (Moving Average Convergence Divergence) technical analysis and Option Pricing with Fuzzy Logic approach. MACD technical analysis is for the prediction of the trends of underlying stock prices, such as bearish (going downward), bullish (going upward), and sideways. By using Fuzzy C-Means technique and Mamdani Fuzzy Inference System, we define the decision output where the value of MACD is high then decision is "Strong Sell", and the value of MACD is Low then the decision is "Strong Buy". We also implement the fuzzification of the Black-Scholes option-pricing formula. The stock and options methods are implemented on a portfolio of one stock and its options. Even though the values of input data, such as interest rates, stock price and its volatility, cannot be obtain accurately, these fuzzy methods can give a belief degree of the calculated the Black-Scholes formula so we can make the decision on option trading. The results show the good capability of the methods in the prediction of stock price trends. The performance of the simulated portfolio for a particular period of time also shows good return.

  3. Improved alternatives for estimating in-use material stocks.

    Science.gov (United States)

    Chen, Wei-Qiang; Graedel, T E

    2015-03-03

    Determinations of in-use material stocks are useful for exploring past patterns and future scenarios of materials use, for estimating end-of-life flows of materials, and thereby for guiding policies on recycling and sustainable management of materials. This is especially true when those determinations are conducted for individual products or product groups such as "automobiles" rather than general (and sometimes nebulous) sectors such as "transportation". We propose four alternatives to the existing top-down and bottom-up methods for estimating in-use material stocks, with the choice depending on the focus of the study and on the available data. We illustrate with aluminum use in automobiles the robustness of and consistencies and differences among these four alternatives and demonstrate that a suitable combination of the four methods permits estimation of the in-use stock of a material contained in all products employing that material, or in-use stocks of different materials contained in a particular product. Therefore, we anticipate the estimation in the future of in-use stocks for many materials in many products or product groups, for many regions, and for longer time periods, by taking advantage of methodologies that fully employ the detailed data sets now becoming available.

  4. Fiscal Deficits and Stock Prices in India: Empirical Evidence

    Directory of Open Access Journals (Sweden)

    Pooja Joshi

    2015-08-01

    Full Text Available The study aims at examining how fiscal deficits affect the performance of the stock market in India by using annual data from 1988–2012. The study makes use of Ng-Perron unit root tests to check the non-stationarity property of the series; the Auto Regressive Distributed Lag (ARDL bounds test and a Vector Error Correction Model (VECM for testing both short and long run dynamic relationships. The variance decomposition (VDC is used to predict the exogenous shocks of the variables. The findings of the bounds test reveal that the estimated equation and the series are co-integrated. The ARDL results suggest a long run negative relationship exists between budget deficit and stock prices and do not show any significant relationship in the short run. The VECM result shows that fiscal deficits influence the stock price only in the short run. The results of the Variance Decomposition show that stock price movement in the long run is mostly explained by shocks of fiscal deficits. The study implies that the government must adopt appropriate macroeconomic policies to reduce budget deficit, which will result in stock market growth and in turn will lead to the financial development of the country.

  5. The Impulsive Stock Market of Bangladesh and the Great Recession

    Directory of Open Access Journals (Sweden)

    Saif Hossain

    2013-07-01

    Full Text Available The paper investigates whether the stock market of Bangladesh can be related with the last world recession. The Pearson’s correlation analysis model was used to find the correlation between the Dhaka Stock Exchange General index and real GDP growth rate of the world. The findings show that no statistically significant correlation exists between the two variables inferring that the stock market of Bangladesh was not significantly affected by ‘the great recession’ (2007-2009. The findings of this study are inconsistent with the results of previous studies which claimed that the Bangladesh stock market shares a common stochastic trend with the capital market of USA. The results of this study may be explained mainly by domestic factors such as low market capitalization, market inefficiency, strict monitoring and control by the Security and Exchange Commission and low international participation in the stock market of Bangladesh. All these factors, along with the inconsistency with past results, instigate further investigation.

  6. Stock Splits and Liquidity for Two Major Capital Markets from Central–Eastern Europe

    Directory of Open Access Journals (Sweden)

    Józef Rudnicki

    2012-12-01

    Full Text Available In the stock market there occur some events that contradict the efficient market hypothesis therefore they are called anomalies. One of the mysterious corporate events which has attracted the attention of numerous researchers is a stock split. I perform the review of implications of splitting the stock for market liquidity of companies listed on the Warsaw Stock Exchange and the Vienna Stock Exchange. I use event study, in particular Market model method and Market adjusted return method, to inspect the behavior of abnormal changes in daily trading volume for stock splits performed between 2000 through 2011 over a short run and assuming a longer time interval. Moreover, I juxtapose the results for both stock exchanges to examine whether the stock split phenomenon for two major capital markets from this part of Europe can be better explained by means of existing theories on stock splits. The research is aimed at analyzing the implications of the split for market liquidity, i.e. whether there occurs an immediate effect following the split as well as whether this corporate event improves the level of market liquidity over long run. Furthermore, the goal of the paper is to investigate whether the investors can cash in on the stock split, more specifically, whether they can profit from lower transaction costs. I document a significant growth in the market liquidity of stock splitting firms over 36 months following the split for both capital markets what is indicative of lower transaction costs for investors. The 1–percent significant results are consistent with the liquidity hypothesis on stock splits.

  7. MODELING OF THE TRACK AND ROLLING STOCK INTERACTION

    Directory of Open Access Journals (Sweden)

    N. V. Khalipova

    2013-09-01

    Full Text Available Purpose. Interaction of system’s elements of "carriage–track" modelling requires consideration of various criteria, it also requires analysis of many uncertainty and randomness factors’ influence on the basic parameters to ensure optimal or rational parameters of the system. The researching of interactions’ process requires new theoretical approaches to formulation of objectives, based on a generalization of existing modeling approaches. The purpose of this work is development of interaction models between track and rolling stock based on multiple structures of objects. Methodology. Dedicated and formed the main evaluation criteria of dynamic interaction between track and rolling stock optimization - quality assurance and safety of transportation process, improving of their efficiency and reducing of prime cost’s. Based on vector optimization methods, proposed model of rolling stock and track’s elements interaction. For the synthesis of the model used mathematical machine of multiple objects structures. Findings. Generalized approaches to modeling in the interaction of rolling stock and track for different structural elements of the system under different exploitation conditions. This theoretical approach demonstrated on the examples of modeling of passenger and freight cars with track under different exploitation conditions. Originality. Proposed theoretical approach to the problem of track and rolling stock interaction, based on a synthesis of existing models by using of multiple objects structures. Practical value. Using of proposed model allows to structure key data and rational parameters of rolling stock and track interaction’s modeling and to formulate optimal and rational parameters of the system, to determine the effective exploitation parameters and measurement system for rational use of infrastructure.

  8. Are Vietnam and Chinese stock markets out of the US contagion effect in extreme events?

    Science.gov (United States)

    Nguyen, Cuong; Ishaq Bhatti, M.; Henry, Darren

    2017-08-01

    This paper employs Chi-plots, Kendall (K)-plots and three different copula functions to empirically examine the tail dependence between the US stock market and stock markets in Vietnam and China in order to test contagion effects pre- and post- the US subprime mortgage crisis. The results based on data between 2003 and 2011 indicate the presence of left tail dependence before and after the crisis suggesting no change in dependence structure, but there exists stronger left tail dependence between the US and Vietnam stock markets. It is observed that the US and Vietnam stock markets are more prone to crashing than booming together. For the Chinese market, the US and Shanghai stock markets exhibit left tail dependence before the crisis, but no evidence of post-crisis tail dependency. On the contrary, the Shenzhen stock market is independent of the US market before and after the crisis which implies that an extreme event in the US market is less likely to influence the Shenzhen stock market. This suggests that there is significant potential for risk diversification by investing in the Shenzhen market by US investors after the financial crisis. These results have not been documented in the existing literature and provide a new insight into risk diversification between the two important Asian emerging stock markets.

  9. The Effect of Macroeconomic Factors on Stock Prices of Swiss Real Estate Companies

    Directory of Open Access Journals (Sweden)

    Marie Ligocká

    2016-01-01

    Full Text Available Stock values of companies listed on stock exchanges could be influenced by many factors. The aim of this article is to examine existence and character of relationship between stock prices of selected Swiss real estate companies and macroeconomic fundamentals (GDP, interest rate, price level. The existence of long-run equilibrium relationship between stock prices and macroeconomic fundamentals is tested with the Johansen cointegration. The short run dynamics between the variables is examined by Vector Error Correction modelling and the Granger causality test. During the period 2005 – 2014 we revealed a long‑run equilibrium for five of the six analyzed stocks. We also confirmed that macroeconomic variables and the interest rate in particular, can explain a long-run behavior of stock prices. By contrast, macroeconomic variables are usually short in explanation of short‑run dynamics of stock prices. However, the results differ substantially among the stocks and, hence, they prevent us from drawing any general conclusion for the entire real estate sector in Switzerland.

  10. Life-cycle Environmental and Cost Assessment of Building Retrofits: Evaluating Conventional and Streamlined Approaches

    OpenAIRE

    Rodrigues, Carla Abreu

    2017-01-01

    Tese de doutoramento em Sistemas Sustentáveis de Energia, apresentada ao Departamento de Engenharia Mecânica da Faculdade de Ciências e Tecnologia da Universidade de Coimbra Building retrofits can promote a significant reduction in the environmental load and operating costs of the European building stock. In Portugal there are two million households needing refurbishment (34% of the Portuguese building stock). Most of those buildings are among the largest contributors to the poor energy p...

  11. Do Earthquakes Shake Stock Markets?

    Science.gov (United States)

    Ferreira, Susana; Karali, Berna

    2015-01-01

    This paper examines how major earthquakes affected the returns and volatility of aggregate stock market indices in thirty-five financial markets over the last twenty years. Results show that global financial markets are resilient to shocks caused by earthquakes even if these are domestic. Our analysis reveals that, in a few instances, some macroeconomic variables and earthquake characteristics (gross domestic product per capita, trade openness, bilateral trade flows, earthquake magnitude, a tsunami indicator, distance to the epicenter, and number of fatalities) mediate the impact of earthquakes on stock market returns, resulting in a zero net effect. However, the influence of these variables is market-specific, indicating no systematic pattern across global capital markets. Results also demonstrate that stock market volatility is unaffected by earthquakes, except for Japan.

  12. Solow Residuals Without Capital Stocks

    DEFF Research Database (Denmark)

    Burda, Michael C.; Severgnini, Battista

    2014-01-01

    investment expenditures: one eliminates the capital stock by direct substitution, while the other employs generalized differences of detrended data and the Malmquist index. In short samples, these measures can exhibit consistently lower root mean squared errors than the Solow–Törnqvist counterpart. Capital......We use synthetic data generated by a prototypical stochastic growth model to assess the accuracy of the Solow residual (Solow, 1957) as a measure of total factor productivity (TFP) growth when the capital stock in use is measured with error. We propose two alternative measurements based on current...

  13. Portfolio theory as a management tool to guide conservation and restoration of multi-stock fish populations

    Science.gov (United States)

    DuFour, Mark R.; May, Cassandra J.; Roseman, Edward F.; Ludsin, Stuart A.; Vandergoot, Christopher S.; Pritt, Jeremy J.; Fraker, Michael E.; Davis, Jeremiah J.; Tyson, Jeffery T.; Miner, Jeffery G.; Marschall, Elizabeth A.; Mayer, Christine M.

    2015-01-01

    Habitat degradation and harvest have upset the natural buffering mechanism (i.e., portfolio effects) of many large-scale multi-stock fisheries by reducing spawning stock diversity that is vital for generating population stability and resilience. The application of portfolio theory offers a means to guide management activities by quantifying the importance of multi-stock dynamics and suggesting conservation and restoration strategies to improve naturally occurring portfolio effects. Our application of portfolio theory to Lake Erie Sander vitreus (walleye), a large population that is supported by riverine and open-lake reef spawning stocks, has shown that portfolio effects generated by annual inter-stock larval fish production are currently suboptimal when compared to potential buffering capacity. Reduced production from riverine stocks has resulted in a single open-lake reef stock dominating larval production, and in turn, high inter-annual recruitment variability during recent years. Our analyses have shown (1) a weak average correlation between annual river and reef larval production (ρ̄ = 0.24), suggesting that a natural buffering capacity exists in the population, and (2) expanded annual production of larvae (potential recruits) from riverine stocks could stabilize the fishery by dampening inter-annual recruitment variation. Ultimately, our results demonstrate how portfolio theory can be used to quantify the importance of spawning stock diversity and guide management on ecologically relevant scales (i.e., spawning stocks) leading to greater stability and resilience of multi-stock populations and fisheries.

  14. Evaluating and optimizing stock enhancement of natural flatfish stock

    NARCIS (Netherlands)

    Sparrevohn, C.R.

    2008-01-01

    The overall objective of this thesis is to evaluate and optimize a stock enhancement program of natural population of flatfish in which artificially reared fish are released in coastal areas using turbot (Psetta maxima) as model. Biological and ecological criteria are developed to evaluate the

  15. The Dutch sustainable building policy: A model for developing countries?

    Energy Technology Data Exchange (ETDEWEB)

    Melchert, Luciana [Faculty of Architecture and Urbanism, University of Sao Paulo, Rua do Lago, 876, CEP 05508.900, Sao Paulo SP (Brazil)

    2007-02-15

    This article explores the institutionalization of environmental policies in the Dutch building sector and the applicability of the current model to developing countries. First, it analyzes the transition of sustainable building practices in the Netherlands from the 1970s until today, exploring how these were originally embedded in a discourse on 'de-modernization', which attempted to improve the environmental performance of building stocks by means of self-sufficient technologies, whereas nowadays they adopt a framework of 'ecological modernization', with integrative approaches seeking to improve the environmental performance of building stocks through more efficient-rather than self-sufficient-technologies. The study subsequently shows how the current Dutch sustainable building framework has thereby managed to achieve a pragmatic and widely accepted rationale, which can serve to orient the ecological restructuring of building stocks in developing countries. (author)

  16. Spatial variability of soil carbon stock in the Urucu river basin, Central Amazon-Brazil

    Energy Technology Data Exchange (ETDEWEB)

    Ceddia, Marcos Bacis, E-mail: marcosceddia@gmail.com [Department of Soil, Institute of Agronomy, Universidade Federal Rural do Rio de Janeiro (UFRRJ), Seropédica, RJ 23890-000 (Brazil); Villela, André Luis Oliveira [Colégio Técnico da UFRRJ, RJ, Seropédica 23890-000 (Brazil); Pinheiro, Érika Flávia Machado [Department of Soil, Institute of Agronomy, Universidade Federal Rural do Rio de Janeiro (UFRRJ), Seropédica, RJ 23890-000 (Brazil); Wendroth, Ole [Department of Plant & Soil Sciences, University of Kentucky, College of Agriculture, Lexington, KY (United States)

    2015-09-01

    The Amazon Forest plays a major role in C sequestration and release. However, few regional estimates of soil organic carbon (SOC) stock in this ecoregion exist. One of the barriers to improve SOC estimates is the lack of recent soil data at high spatial resolution, which hampers the application of new methods for mapping SOC stock. The aims of this work were: (i) to quantify SOC stock under undisturbed vegetation for the 0–30 and the 0–100 cm under Amazon Forest; (ii) to correlate the SOC stock with soil mapping units and relief attributes and (iii) to evaluate three geostatistical techniques to generate maps of SOC stock (ordinary, isotopic and heterotopic cokriging). The study site is located in the Central region of Amazon State, Brazil. The soil survey covered the study site that has an area of 80 km{sup 2} and resulted in a 1:10,000 soil map. It consisted of 315 field observations (96 complete soil profiles and 219 boreholes). SOC stock was calculated by summing C stocks by horizon, determined as a product of BD, SOC and the horizon thickness. For each one of the 315 soil observations, relief attributes were derived from a topographic map to understand SOC dynamics. The SOC stocks across 30 and 100 cm soil depth were 3.28 and 7.32 kg C m{sup −2}, respectively, which is, 34 and 16%, lower than other studies. The SOC stock is higher in soils developed in relief forms exhibiting well-drained soils, which are covered by Upland Dense Tropical Rainforest. Only SOC stock in the upper 100 cm exhibited spatial dependence allowing the generation of spatial variability maps based on spatial (co)-regionalization. The CTI was inversely correlated with SOC stock and was the only auxiliary variable feasible to be used in cokriging interpolation. The heterotopic cokriging presented the best performance for mapping SOC stock. - Highlights: • The SOC stocks across 30 and 100 cm depth were 3.28 and 7.32 kg C m{sup −2}, respectively. • SOC stocks were 34 and 16

  17. Buildings Interoperability Landscape

    Energy Technology Data Exchange (ETDEWEB)

    Hardin, Dave [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Stephan, Eric G. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Wang, Weimin [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Corbin, Charles D. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Widergren, Steven E. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States)

    2015-12-31

    Through its Building Technologies Office (BTO), the United States Department of Energy’s Office of Energy Efficiency and Renewable Energy (DOE-EERE) is sponsoring an effort to advance interoperability for the integration of intelligent buildings equipment and automation systems, understanding the importance of integration frameworks and product ecosystems to this cause. This is important to BTO’s mission to enhance energy efficiency and save energy for economic and environmental purposes. For connected buildings ecosystems of products and services from various manufacturers to flourish, the ICT aspects of the equipment need to integrate and operate simply and reliably. Within the concepts of interoperability lie the specification, development, and certification of equipment with standards-based interfaces that connect and work. Beyond this, a healthy community of stakeholders that contribute to and use interoperability work products must be developed. On May 1, 2014, the DOE convened a technical meeting to take stock of the current state of interoperability of connected equipment and systems in buildings. Several insights from that meeting helped facilitate a draft description of the landscape of interoperability for connected buildings, which focuses mainly on small and medium commercial buildings. This document revises the February 2015 landscape document to address reviewer comments, incorporate important insights from the Buildings Interoperability Vision technical meeting, and capture thoughts from that meeting about the topics to be addressed in a buildings interoperability vision. In particular, greater attention is paid to the state of information modeling in buildings and the great potential for near-term benefits in this area from progress and community alignment.

  18. Stock Market Expectations of Dutch Households.

    Science.gov (United States)

    Hurd, Michael; van Rooij, Maarten; Winter, Joachim

    2011-04-01

    Despite its importance for the analysis of life-cycle behavior and, in particular, retirement planning, stock ownership by private households is poorly understood. Among other approaches to investigate this puzzle, recent research has started to elicit private households' expectations of stock market returns. This paper reports findings from a study that collected data over a two-year period both on households' stock market expectations (subjective probabilities of gains or losses) and on whether they own stocks. We document substantial heterogeneity in financial market expectations. Expectations are correlated with stock ownership. Over the two years of our data, stock market prices increased, and expectations of future stock market price changes also increased, lending support to the view that expectations are influenced by recent stock gains or losses.

  19. Stock Return Synchronicity and Analysts’ Forecast Properties

    Directory of Open Access Journals (Sweden)

    Joong-Seok Cho

    2016-12-01

    Full Text Available Using stock return synchronicity as a measure of a firm’s information environment, our research investigates how the firms’ stock return synchronicity affects analysts’ forecast properties for the accuracy and optimism of the analysts’ annual earnings forecasts. Stock return synchronicity represents the degree to which market and industry information explains firm-level stock return variations. A higher stock return synchronicity indicates the higher quality of a firm’s information environment, because a firm’s stock price reflects more market-level and industry-level information relative to firm-specific information. Our study shows that stock return synchronicity positively affects the forecast properties. Our finding shows that when stock return synchronicity is high, analysts’ annual earnings forecasts are more accurate and less optimistically biased.

  20. Oil risk in oil stocks

    NARCIS (Netherlands)

    Scholtens, Bert; Wang, L

    2008-01-01

    We assess the oil price sensitivities and oil risk premiums of NYSE listed oil & gas firms' returns by using a two-step regression analysis under two different arbitrage pricing models. Thus, we apply the Fama and French (1992) factor returns in a study of oil stocks. In all, we find that the return

  1. The liquidity of energy stocks

    NARCIS (Netherlands)

    Sklavos, Konstantinos; Dam, Lammertjan; Scholtens, Bert

    This study investigates the dynamics of stock market liquidity in the energy industry in the US for 130 firms for the period 2006-2011. We use a (structural) vector autoregression approach to model the simultaneous relationships between three liquidity measures, namely turnover, price impact and

  2. TRACEABILITY IN STOCK MANAGEMENT SYSTEMS

    Directory of Open Access Journals (Sweden)

    Demian Horia

    2009-05-01

    Full Text Available This paper presents traceability of a product if we are using a stock management system which uses FIFO or LIFO discharging methods. In the first part there is a little presentation regarding the four types of inputs and outputs and the side effect to the

  3. Stock Market Prediction using Social Media Analysis

    OpenAIRE

    Bahceci, Oktay; Alsing, Oscar

    2015-01-01

    Stock Forecasting is commonly used in different forms everyday in order to predict stock prices. Sentiment Analysis (SA), Machine Learning (ML) and Data Mining (DM) are techniques that have recently become popular in analyzing public emotion in order to predict future stock prices. The algorithms need data in big sets to detect patterns, and the data has been collected through a live stream for the tweet data, together with web scraping for the stock data. This study examined how three organi...

  4. A new standard for flood resistance and resilience of buildings: new build and retrofit

    Directory of Open Access Journals (Sweden)

    Tagg Andrew

    2016-01-01

    Full Text Available With around three million properties in England affected by severe weather-driven surface water (pluvial flooding, and the number likely to increase as a result of climate change, it is important that homeowners and businesses are encouraged to take steps to minimise the effects of future flood events. This is where property-level protection and building resilience measures are important. However, stakeholders will continue to need assistance and advice on how to select appropriate measures. Based on laboratory testing and other desk studies, a guidance document was developed in 2007 giving advice on resilient approaches for new buildings. This was adopted by many organisations, to inform measures that could be used, particularly to deal with residual flood risks, which cannot always be designed out. Since 2009, through the “Statement of Principles” with the insurance industry and the NPPF, unsuitable development has been discouraged in areas at high flood risk. However, with the increased awareness of the need to deal with surface water for existing housing stock, a new standard was needed. Therefore the British Standards Institution has developed a new standard (BS 85500 that updates and extends the guidance document, including retrofitting flood resistance and resilience measures to existing properties. This paper outlines the Standard’s contents and some of the key issues associated with its development.

  5. Data and Analytics to Inform Energy Retrofit of High Performance Buildings

    Energy Technology Data Exchange (ETDEWEB)

    Hong, Tianzhen; Yang, Le; Hill, David; Feng, Wei

    2014-01-25

    Buildings consume more than one-third of the world?s primary energy. Reducing energy use in buildings with energy efficient technologies is feasible and also driven by energy policies such as energy benchmarking, disclosure, rating, and labeling in both the developed and developing countries. Current energy retrofits focus on the existing building stocks, especially older buildings, but the growing number of new high performance buildings built around the world raises a question that how these buildings perform and whether there are retrofit opportunities to further reduce their energy use. This is a new and unique problem for the building industry. Traditional energy audit or analysis methods are inadequate to look deep into the energy use of the high performance buildings. This study aims to tackle this problem with a new holistic approach powered by building performance data and analytics. First, three types of measured data are introduced, including the time series energy use, building systems operating conditions, and indoor and outdoor environmental parameters. An energy data model based on the ISO Standard 12655 is used to represent the energy use in buildings in a three-level hierarchy. Secondly, a suite of analytics were proposed to analyze energy use and to identify retrofit measures for high performance buildings. The data-driven analytics are based on monitored data at short time intervals, and cover three levels of analysis ? energy profiling, benchmarking and diagnostics. Thirdly, the analytics were applied to a high performance building in California to analyze its energy use and identify retrofit opportunities, including: (1) analyzing patterns of major energy end-use categories at various time scales, (2) benchmarking the whole building total energy use as well as major end-uses against its peers, (3) benchmarking the power usage effectiveness for the data center, which is the largest electricity consumer in this building, and (4) diagnosing HVAC

  6. Stock-market efficiency in thin-trading markets : the case of the Vietnamese stock market

    NARCIS (Netherlands)

    Truong Dong Loc, [No Value; Lanjouw, Ger; Lensink, Robert

    2010-01-01

    This article reviews developments in the Stock Trading Centre (STC) in Ho Chi Minh City, Vietnam, the main stock market in the country, since its start in 2000. It presents information about developments in the number of stocks traded, trading activity and stock-price developments. This article

  7. Stock Market Efficiency in Thin Trading Markets: The Case of the Vietnamese Stock Market

    NARCIS (Netherlands)

    Dong Loc, T.; Lanjouw, G.; Lensink, B.W.

    2010-01-01

    This article reviews developments in the Stock Trading Centre (STC) in Ho Chi Minh City, Vietnam, the main stock market in the country, since its start in 2000. It presents information about developments in the number of stocks traded, trading activity and stock-price developments. This article

  8. 27 CFR 24.217 - Vinegar stock.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Vinegar stock. 24.217... OF THE TREASURY LIQUORS WINE Production of Other Than Standard Wine § 24.217 Vinegar stock. Vinegar stock may be produced on bonded wine premises with the addition of any quantity of water desired to meet...

  9. 47 CFR 32.4510 - Capital stock.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Capital stock. 32.4510 Section 32.4510... FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.4510 Capital stock. (a) This account shall include the par value, stated amount, or in the case of no-par stock, the amount...

  10. 47 CFR 32.4530 - Treasury stock.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Treasury stock. 32.4530 Section 32.4530... FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.4530 Treasury stock. This account shall include the cost of the company's own capital stock which has been issued and...

  11. Stocking, growth, and yield of oak stands

    Science.gov (United States)

    Samuel F. Gingrich

    1971-01-01

    An appraisal of stocking in even-aged upland oak stands is a prerequisite for determining the cultural needs of a given stand. Most oak stands have sufficient stocking to utilize the site, but are deficient in high-quality trees. Thinning such stands offers a good opportunity to upgrade the relative quality of the growing stock and enhance the growth and yield...

  12. Cointegration and stock market interdependence: Evidence from South Africa, India and the USA

    Directory of Open Access Journals (Sweden)

    Mohanasundaram Thangamuthu

    2015-11-01

    Full Text Available The purpose of this study is to explore the nature of the association and the possible existence of a shortrun and long-run relationship between the stock-market indices of South Africa, India and the USA. The idea behind this combination is to know how the stock markets of these three prominent countries are related to each other. The study employs monthly data from the stock indices, namely JALSH (South Africa, NIFTY (India and NASDAQ (USA composite from April 2004 to March 2014. After testing for the normality of the data distribution and the stationarity of the time series data, this paper discovered a strong correlation between the stock market indices of South Africa, India and the USA. The correlation among the stock markets is high, particularly between South Africa and India. In addition, the paper attempts to discover the presence of any predictive ability among these markets by applying the Granger causality test. The result indicates that the NASDAQ index has no predictive ability as far as the JALSH and NIFTY indices are concerned. However, the JALSH index has a predictive ability on the NIFTY index. After testing the Granger cause relationship, the existence of a long-run and short-run relationship is tested. The long-run relationships among the stock market indices are analysed, following the Johansen and Juselius multivariate cointegration approach. The result suggests the absence of a long-run relationship among the three stock market indices. Short-run relationship is investigated with the Vector Autoregression (VAR model, and the outcome obtained shows that both the USA and the South African stock markets are predicted only by their own past lags. However, the Indian stock market is seen to be a function of its own past lags and the past lags of the South African stock index.

  13. Modelling Stock Market Volatility: Evidence from India

    Directory of Open Access Journals (Sweden)

    Karunanithy Banumathy

    2015-03-01

    Full Text Available This study empirically investigates the volatility pattern of Indian stock market based on time series data which consists of daily closing prices of S&P CNX Nifty Index for ten years period from 1st January 2003 to 31st December 2012. The analysis has been done using both symmetric and asymmetric models of Generalized Autoregressive Conditional Heteroscedastic (GARCH. As per Akaike Information Criterion (AIC and Schwarz Information Criterion (SIC, the study proves that GARCH (1,1 and TGARCH (1,1 estimations are found to be most appropriate model to capture the symmetric and asymmetric volatility respectively. The study also provides evidence for the existence of a positive and insignificant risk premium as per GARCH-M (1,1 model. The asymmetric effect (leverage captured by the parameter of EGARCH (1,1 and TGARCH (1,1 models show that negative shocks have significant effect on conditional variance (volatility.

  14. The Difference Between Stock Splits and Stock Dividends - Evidence from Denmark

    DEFF Research Database (Denmark)

    Raaballe, Johannes; Bechmann, Ken L.

    2007-01-01

    This paper investigates stock dividends and stock splits on the Copenhagen Stock Exchange (CSE), which is of interest because several of the more recent explanations for a stock market reaction can be ruled out. The main findings are that the announcement effect of stock dividends as well as stock...... a retained earnings/signaling hypothesis. For stock splits, no separate announcement effect was found when a firm's payout policy was controlled for. This lends support to the idea that a stock split per se is a cosmetic event on the CSE and is also consistent with the fact that making a stock split...... to a significant announcement effect of 4.23%. Firms announcing a stock dividend with a split factor of two or more also increase total cash dividends permanently, but less than proportionally to the increase in share capital. This leads to an insignificant announcement effect of 0.08%. These findings support...

  15. The dangers of ignoring stock complexity in fishery management: the case of the North Sea cod.

    Science.gov (United States)

    Hutchinson, William F

    2008-12-23

    The plight of the marine fisheries is attracting increasing attention as unsustainably high exploitation levels, exacerbated by more extreme climatic conditions, are driving stocks to the point of collapse. The North Atlantic cod (Gadus morhua), a species which until recently formed a major component of the demersal fisheries, has undergone significant declines across its range. The North Sea stock is typical of many, with a spawning stock biomass that has remained below the safe biological limit since 2000 and recruitment levels near the lowest on record. Cod within the North Sea are currently managed as a single stock, and yet mounting empirical evidence supports the existence of a metapopulation of regionally variable, genetically distinct, sub-stocks. Applying the same management strategies to multiple stocks that differ in their resilience to exploitation inevitably results in the overfishing and likely collapse of the weaker components. Indeed, recent studies have identified two North Sea spawning stocks that have undergone disproportionally large collapses with very substantial reductions in egg production. Similarly affected cod stocks in the northwest Atlantic have shown little evidence of recovery, despite fishery closures. The possible implications of ignoring sub-structuring within management units for biocomplexity, local adaptation and ecosystem stability are considered.

  16. Determinants of Stock Price Movements: Evidence from Chittagong Stock Exchange, Bangladesh

    OpenAIRE

    Mohammed Syedul Islam; Evana Nusrat Dooty

    2015-01-01

    Stock market plays a vital role in the economic development of an economy. It bridges up between savers and real manufacturers by raising funds from investors to companies. This process was broken down due to the 2010-2011 stock market crash in Bangladesh. Though the determinants of stock price have been settled empirically, the current paper aims to reexamine the relationship between stock price, dividend and retained earnings of 29 listed banks of Chittagong Stock Exchange, in the post-cras...

  17. 26 CFR 1.306-3 - Section 306 stock defined.

    Science.gov (United States)

    2010-04-01

    ... in business in the United States. (i) Section 306 shall be inapplicable to stock received before June... a stock dividend, or the stock is received in exchange for section 306 stock. If, in a transaction to which section 356 is applicable, a shareholder exchanges section 306 stock for stock and money or...

  18. Stock Market Manipulation on the Hong Kong Stock Exchange

    Directory of Open Access Journals (Sweden)

    Dionigi Gerace

    2014-10-01

    Full Text Available This study is the first to empirically examine stock market manipulation on the Hong Kong Stock Exchange. The dataset contains 40 cases of market manipulation from 1996 to 2009 that were successfully prosecuted by the Hong Kong Securities & Futures Commission. Manipulation is found to negatively impact market efficiency measures such as the bid-ask spread and volatility. Markets appear incapable of efficiently responding to the presence of manipulators and are characterised by information asymmetry. Manipulators were successfully able to raise prices and exit the market. This finding contradicts views that trade-based manipulation is entirely unprofitable and self-deterring. The victimisation of information-seeking investors and the market as a whole provides a strong rationale for all jurisdictions, including Australia, to have effective laws that prohibit manipulation and for robust enforcement of those laws to further deter market manipulation.

  19. Centennial evolution of aluminum in-use stocks on our aluminized planet.

    Science.gov (United States)

    Liu, Gang; Müller, Daniel B

    2013-05-07

    A dynamic material flow model was developed to simulate the evolution of global aluminum stocks in geological reserve and anthropogenic reservoir from 1900 to 2010 on a country level. The contemporary global aluminum stock in use (0.6 Gt or 90 kg/capita) has reached about 10% of that in known bauxite reserves and represents an embodied energy amount that is equivalent to three-quarters of the present global annual electricity consumption. The largest proportions of in-use stock are located in the U.S. (28%), China (15%), Japan (7%), and Germany (6%) and in sectors of building and construction (40%) and transportation (27%). Industrialized countries have shown similar patterns of aluminum in-use stock growth: once the per-capita stocks have reached a threshold level of 50 kg, they kept a near linear annual growth of 5-10 kg/capita; no clear signs of saturation can yet be observed. The present aluminum in-use stocks vary widely across countries: approximately 100-600 kg/capita in industrialized countries and below 100 kg/capita in developing countries. The growing global aluminum in-use stock has significant implications on future aluminum demand and provides important recycling opportunities that will be critical for greenhouse gas emissions mitigation in the aluminum industry in the coming decades.

  20. "Price-quakes" shaking the world's stock exchanges.

    Science.gov (United States)

    Andersen, Jørgen Vitting; Nowak, Andrzej; Rotundo, Giulia; Parrott, Lael; Martinez, Sebastian

    2011-01-01

    Systemic risk has received much more awareness after the excessive risk taking by major financial instituations pushed the world's financial system into what many considered a state of near systemic failure in 2008. The IMF for example in its yearly 2009 Global Financial Stability Report acknowledged the lack of proper tools and research on the topic. Understanding how disruptions can propagate across financial markets is therefore of utmost importance. Here, we use empirical data to show that the world's markets have a non-linear threshold response to events, consistent with the hypothesis that traders exhibit change blindness. Change blindness is the tendency of humans to ignore small changes and to react disproportionately to large events. As we show, this may be responsible for generating cascading events--pricequakes--in the world's markets. We propose a network model of the world's stock exchanges that predicts how an individual stock exchange should be priced in terms of the performance of the global market of exchanges, but with change blindness included in the pricing. The model has a direct correspondence to models of earth tectonic plate movements developed in physics to describe the slip-stick movement of blocks linked via spring forces. We have shown how the price dynamics of the world's stock exchanges follows a dynamics of build-up and release of stress, similar to earthquakes. The nonlinear response allows us to classify price movements of a given stock index as either being generated internally, due to specific economic news for the country in question, or externally, by the ensemble of the world's stock exchanges reacting together like a complex system. The model may provide new insight into the origins and thereby also prevent systemic risks in the global financial network.

  1. “Price-Quakes” Shaking the World's Stock Exchanges

    Science.gov (United States)

    Andersen, Jørgen Vitting; Nowak, Andrzej; Rotundo, Giulia; Parrott, Lael; Martinez, Sebastian

    2011-01-01

    Background Systemic risk has received much more awareness after the excessive risk taking by major financial instituations pushed the world's financial system into what many considered a state of near systemic failure in 2008. The IMF for example in its yearly 2009 Global Financial Stability Report acknowledged the lack of proper tools and research on the topic. Understanding how disruptions can propagate across financial markets is therefore of utmost importance. Methodology/Principal Findings Here, we use empirical data to show that the world's markets have a non-linear threshold response to events, consistent with the hypothesis that traders exhibit change blindness. Change blindness is the tendency of humans to ignore small changes and to react disproportionately to large events. As we show, this may be responsible for generating cascading events—pricequakes—in the world's markets. We propose a network model of the world's stock exchanges that predicts how an individual stock exchange should be priced in terms of the performance of the global market of exchanges, but with change blindness included in the pricing. The model has a direct correspondence to models of earth tectonic plate movements developed in physics to describe the slip-stick movement of blocks linked via spring forces. Conclusions/Significance We have shown how the price dynamics of the world's stock exchanges follows a dynamics of build-up and release of stress, similar to earthquakes. The nonlinear response allows us to classify price movements of a given stock index as either being generated internally, due to specific economic news for the country in question, or externally, by the ensemble of the world's stock exchanges reacting together like a complex system. The model may provide new insight into the origins and thereby also prevent systemic risks in the global financial network. PMID:22073168

  2. "Price-quakes" shaking the world's stock exchanges.

    Directory of Open Access Journals (Sweden)

    Jørgen Vitting Andersen

    Full Text Available BACKGROUND: Systemic risk has received much more awareness after the excessive risk taking by major financial instituations pushed the world's financial system into what many considered a state of near systemic failure in 2008. The IMF for example in its yearly 2009 Global Financial Stability Report acknowledged the lack of proper tools and research on the topic. Understanding how disruptions can propagate across financial markets is therefore of utmost importance. METHODOLOGY/PRINCIPAL FINDINGS: Here, we use empirical data to show that the world's markets have a non-linear threshold response to events, consistent with the hypothesis that traders exhibit change blindness. Change blindness is the tendency of humans to ignore small changes and to react disproportionately to large events. As we show, this may be responsible for generating cascading events--pricequakes--in the world's markets. We propose a network model of the world's stock exchanges that predicts how an individual stock exchange should be priced in terms of the performance of the global market of exchanges, but with change blindness included in the pricing. The model has a direct correspondence to models of earth tectonic plate movements developed in physics to describe the slip-stick movement of blocks linked via spring forces. CONCLUSIONS/SIGNIFICANCE: We have shown how the price dynamics of the world's stock exchanges follows a dynamics of build-up and release of stress, similar to earthquakes. The nonlinear response allows us to classify price movements of a given stock index as either being generated internally, due to specific economic news for the country in question, or externally, by the ensemble of the world's stock exchanges reacting together like a complex system. The model may provide new insight into the origins and thereby also prevent systemic risks in the global financial network.

  3. Study of structural reliability of existing concrete structures

    Science.gov (United States)

    Druķis, P.; Gaile, L.; Valtere, K.; Pakrastiņš, L.; Goremikins, V.

    2017-10-01

    Structural reliability of buildings has become an important issue after the collapse of a shopping center in Riga 21.11.2013, caused the death of 54 people. The reliability of a building is the practice of designing, constructing, operating, maintaining and removing buildings in ways that ensure maintained health, ward suffered injuries or death due to use of the building. Evaluation and improvement of existing buildings is becoming more and more important. For a large part of existing buildings, the design life has been reached or will be reached in the near future. The structures of these buildings need to be reassessed in order to find out whether the safety requirements are met. The safety requirements provided by the Eurocodes are a starting point for the assessment of safety. However, it would be uneconomical to require all existing buildings and structures to comply fully with these new codes and corresponding safety levels, therefore the assessment of existing buildings differs with each design situation. This case study describes the simple and practical procedure of determination of minimal reliability index β of existing concrete structures designed by different codes than Eurocodes and allows to reassess the actual reliability level of different structural elements of existing buildings under design load.

  4. CARBON STOCKS AND STOCK CHANGES IN AGROFORESTRY PRACTICES: A REVIEW

    Directory of Open Access Journals (Sweden)

    Humphrey Agevi

    2017-05-01

    Full Text Available Trees on farmlands and agricultural lands play a crucial role in small holder farmers’ livelihoods in addition to carbon regulation through carbon sequestration. These trees have received much attention recently due to their contribution to climate change mitigation through carbon storage. Quantification of carbon stocks in these trees has always proven difficult due to the spatial extent of these trees and methodological difficulties encountered during measurement. This paper reviews a number of studies done in quantification of biomass and soil carbon stocks in agroforestry within tropics. Most appropriate method employed in determination of carbon stock changes is through use of allometric equations. The equations use parameters like diameter at breast height (DBH, height, crown area which can be measured during field inventory. DBH has always proven to be the best parameter to be used in the equation since it is easy to measure and it does not need expensive equipments.  Apart from trees, soils in agricultural lands have the capacity to store carbon and help mitigate effects of climate change. It then identifies the gap that future research can be done for accurate carbon quantification.

  5. Facilities improvement for sustainability of existing public office ...

    African Journals Online (AJOL)

    The study examined the building design features of a cosmopolitan public office building in Abuja. The features were classified into Spatial Plan, Structure and Facilities, to determine which of the 3 variables requires urgent sustainable improvement from end-users' perspective in existing public office buildings in developing ...

  6. Month of the year and pre-holiday effects in African stock markets

    Directory of Open Access Journals (Sweden)

    Paul Alagidede

    2013-02-01

    Full Text Available This paper investigates the existence of two anomalies in African stock returns: the month of the year and the pre-holiday effects, and their implications for stock market efficiency.  We extend the traditional approach to modelling anomalies and examine the mean and variance of returns. We document high and significant returns in days preceding a holiday in South Africa. Our results indicate that the month of the year effect is prevalent in African stock returns. However, we argue that, owing to illiquidity and round trip transactions costs, the anomalies uncovered do not necessarily violate the no-arbitrage condition.

  7. Contagion in International Stock Markets during the Sub Prime Mortgage Crisis

    Directory of Open Access Journals (Sweden)

    Hsien-Yi Lee

    2012-01-01

    Full Text Available The sub prime mortgages crises took place in July, 2007 in US which causes the large scare in the global financial markets, and the international stock and foreign market suffer heavy shock. Using twenty international stock indexes, this study examines whether any contagion effect occurred across international markets after the sub-prime financial mortgage crisis in US. Using the heteroscedasticity biases based on correlation coefficients to examine the existence of the contagion effect, this study shows that stock markets of some countries (namely Hong Kong, Taiwan, Australia and New Zealand did suffer from the contagion effect.

  8. Modelling the mixing of herring stocks between the Baltic and the North Sea from otolith data

    DEFF Research Database (Denmark)

    Ulrich, Clara; Post, Søren Lorentzen; Worsøe Clausen, Lotte

    2012-01-01

    Herring catches in the western Baltic, Kattegat and Skagerrak consist of a mixture of stocks, mainly North Sea autumn spawners (NSAS) and western Baltic spring spawners (WBSS), which is managed through a single TAC. Catches of these two stocks are split using otolith microstructures from Danish...... and are consistent with existing ideas about the migration patterns of WBSS and NSAS within Division IIIa and adjacent waters. This work therefore provides the foundation for the development of a more rational management of the herring stocks in this area...

  9. Investor sentiment and stock returns: Evidence from provincial TV audience rating in China

    Science.gov (United States)

    Zhang, Yongjie; Zhang, Yuzhao; Shen, Dehua; Zhang, Wei

    2017-01-01

    In this paper, we advocate the provincial TV audience rating as the novel proxy for the provincial investor sentiment (PIS) and investigate its relation with stock returns. The empirical results firstly show that the PIS is positively related to stock returns. Secondly, we provide direct evidence on the existence of home bias in China by observing that the provincial correlation coefficient is significantly larger than the cross-provincial correlation coefficient. Finally, the PIS can explain a large proportion of provincial comovement. To sum up, all these findings support the role of the non-traditional information sources in understanding the "anomalies" in stock market.

  10. Building construction in the Netherlands 1940 - 1970 : Continuity + changeability = durability

    NARCIS (Netherlands)

    Zijlstra, H.

    2006-01-01

    The built environment is continuously changing and such changes are particularly important when regenerating buildings. These changes add something to existing buildings and make new programmes possible. The existing buildings - history - determine continuity and form a clear additional,

  11. Is the stock market efficient?

    Science.gov (United States)

    Malkiel, B G

    1989-03-10

    A stock market is said to be efficient if it accurately reflects all relevant information in determining security prices. Critics have asserted that share prices are far too volatile to be explained by changes in objective economic events-the October 1987 crash being a case in point. Although the evidence is not unambiguous, reports of the death of the efficient market hypothesis appear premature.

  12. Statistical modelling of fish stocks

    DEFF Research Database (Denmark)

    Kvist, Trine

    1999-01-01

    for modelling the dynamics of a fish population is suggested. A new approach is introduced to analyse the sources of variation in age composition data, which is one of the most important sources of information in the cohort based models for estimation of stock abundancies and mortalities. The approach combines...... and it is argued that an approach utilising stochastic differential equations might be advantagous in fish stoch assessments....

  13. Environmental impacts during the operational phase of residential buildings

    NARCIS (Netherlands)

    Blom, I.S.

    2010-01-01

    To date, the focus in the field of sustainable building has been on new building design. However, existing residential buildings inflict great environmental burden through three causes: continuous energy consumption, regular building maintenance and replacements. This publication analyses and

  14. Improving Occupant Wellness in Commercial Office Buildings through Energy Conservation Retrofits

    Directory of Open Access Journals (Sweden)

    J. J. McArthur

    2015-10-01

    Full Text Available There is increasing literature demonstrating the link between building indoor environmental quality, and occupant health and productivity, driving the corporate real estate industry to investigate how to integrate wellness features in both new and existing building stock. Meanwhile, new voluntary standards to promote occupant health are becoming adopted alongside sustainability standards. As commercial building owners and tenants seek to improve occupant conditions and incorporate wellness, apparently conflicting priorities must be balanced, particularly improving indoor environmental conditions has the potential to increase energy. This paper presents a framework to consider retrofits holistically and considering the benefit of improved conditions both qualitatively and quantitatively. Where poor conditions exist, published literature demonstrates a lost productivity cost that exceeds typical building energy costs, and this is quantified in the financial analysis presented. Energy retrofits provide a unique opportunity to integrate wellness-enabling features because the energy savings can offset marginal energy or operating cost increases for particular wellness interventions. This paper presents a flexible, customizable framework to develop potential retrofit bundles and evaluate them considering economic, sustainability, wellness, risk and occupant experience factors to identify the optimal zone of retrofit. An illustrative case study using real building data demonstrates how the framework might be applied to a real project and customized to achieve unique stakeholder priorities.

  15. Strategies and Challenges for Energy Efficient Retrofitting: Study of the Empire State Building

    Science.gov (United States)

    De, B.; Mukherjee, M.

    2013-11-01

    Operational and maintenance cost of existing buildings is escalating making it tough for both the owner and the tenants. Retrofitting them with state of the art technologies help them to keep pace with amended recent code provisions and thus extending the older building stocks one more chance to live responsively. Retrofitted iconic buildings can thus retain their status in commerce driven real estate sector. It helps in reducing green house gas emission as well. World's iconic skyscraper, the Empire State Building (ESB), has undergone an exemplary retrofit process since 2008 to reduce its energy demands. To achieve the goal of operational cost and energy consumption reduction, stiff challenges had taken care in a systematic manner to realize benefit throughout the entire lifespan of the ESB. Least disturbances to the tenant and on-site component handling strategies required precise planning. The present paper explores strategies and process adopted for retrofitting the ESB, and derived insightful guidelines towards operational cost savings and energy efficiency of existing buildings through retrofitting.

  16. Implementation of ventilation in existing schools

    DEFF Research Database (Denmark)

    Hviid, Christian Anker; Petersen, Steffen

    ; they evaluate both scientific and practical implementation The analyses lead to a list of criteria associated with the implementation of ventilation in existing schools. Generic retrofitting scenarios which prioritize energy savings, indoor climate and building/facade integration are assembled and illustrated...

  17. The EXIST OIRT

    Science.gov (United States)

    Allen, Branden; Golisano, C.; Kutyrev, A.; Moseley, H.; Grindlay, J.; Hong, J.; EXIST Team

    2009-01-01

    The EXIST Optical / Infrared Telescope (OIRT) has been integrated into the EXIST concept design for the determination GRB redshifts on orbit and to preform follow up source identification and studies following the generation of a trigger from the EXIST high energy telescope (HET). The base OIRT main design has been inherited from the NextView OIRT has been operating in low earth orbit since September of 2007 and is currently being used for the acquisition of geospatial data. After reconfiguration of the instrumentation for astrophysical observations the OIRT will have an angular resolution of 0.15" and a 5'×5' field of view and be sensitive to emission in the range of 0.4 $\\mu$m - 2.2 $\\mu$m. Passive cooling of the tertiary, secondary, and primary mirrors will enable observation into the Ks$ band.

  18. The synchronicity between the stock and the stock index via information in market

    Science.gov (United States)

    Gao, Hai-Ling; Li, Jiang-Cheng; Guo, Wei; Mei, Dong-Cheng

    2018-02-01

    The synchronicity between the stock and the stock-index in a market system is investigated. The results show that: (i) the synchronicity between the stock and the stock-index increases with the rising degree of market information capitalized into stock prices in certain range; (ii) the synchronicity decreases for large firm-specific information; (iii) the stock return synchronicity is small compared to the big noise trading, however the variance noise facilitates the synchronization within the tailored realms. These findings may be helpful in understanding the effect of market information on synchronicity, especially for the response of firm-specific information and noise trading to synchronicity.

  19. Irregular Shaped Building Design Optimization with Building Information Modelling

    OpenAIRE

    Lee, Xia Sheng; Yan, Chung Pui; See, Zi Siang

    2016-01-01

    This research is to recognise the function of Building Information Modelling (BIM) in design optimization for irregular shaped buildings. The study focuses on a conceptual irregular shaped “twisted” building design similar to some existing sculpture-like architectures. Form and function are the two most important aspects of new buildings, which are becoming more sophisticated as parts of equally sophisticated “systems” that we are living in. Nowadays, it is common to have irregular shaped or ...

  20. Long-run Overseas Portfolio Diversification Benefits and Opportunities of Asian Emerging Stock Markets and Developed Markets

    National Research Council Canada - National Science Library

    Kasilingam Lingaraja; Murugesan Selvam; Vinayagamoorthi Vasanth; Ramachandran Rajesh Ramkumar

    2015-01-01

    .... This research study investigated the existence of long run portfolio diversification benefits and opportunities of eight emerging stock markets in Asia and three top, benchmark index of Developed Markets...

  1. Does Unconscious Racism Exist?

    Science.gov (United States)

    Quillian, Lincoln

    2008-01-01

    This essay argues for the existence of a form of unconscious racism. Research on implicit prejudice provides good evidence that most persons have deeply held negative associations with minority groups that can lead to subtle discrimination without conscious awareness. The evidence for implicit attitudes is briefly reviewed. Criticisms of the…

  2. Narrowing the Energy Performance Gap in Non-Domestic Buildings with Aspirational Sustainability Targets

    OpenAIRE

    Pritchard, Raymond

    2014-01-01

    The non-domestic building sector has in recent years witnessed a boom in the number of ostensibly ‘green’ buildings certified under the Building Research Establishment Environmental Assessment Methodology (BREEAM) and similar rating schemes. Despite the proliferation of aspirationally sustainable building designs, the actual energy performance of certified buildings is generally little better and sometimes worse than the building stock average. The actual energy consumption of non-domestic bu...

  3. Analysis of Right Issue Announcement Effect toward Stock Price Movement and Stock Trading Volume within Issuer in Indonesia Stock Exchange

    Directory of Open Access Journals (Sweden)

    Wilson Yaputra Yakup

    2016-05-01

    Full Text Available The purpose of this study were to identify and analyze the rights issue effect to the stock price, the effect of the rights issue on stock trading volume, the correlation between stock prices before and after the right issue, as well as the correlation between volume of trading activity before the right issue and after that event. The objects of the study are the companies listed on Indonesia Stock Exchange (JSX. The hypothesis stated that right issues have a significant effect on stock price on companies listed on the JSX, rights issues have a significant effect on the stock trading volume on companies listed on the JSX, there is a significant correlation between stock price before and after the rights issue on companies listed in JSX, there is a significant correlation between volume of the stock trading before the rights issue and after that event. Data analysis used were descriptive statistics, simple linear regression analysis and paired t-test. Hypothesis testing was performed by using the Pearson correlation test with significance level of 5%. The results show that the right issue has a positive effect but not significant toward stock prices of companies listed in JSX, right issue has a negative effect and not significant toward the trading volume activity (TVA on companies listed in JSX.

  4. Kyiv institutional buildings sector energy efficiency program: Technical assessment

    Energy Technology Data Exchange (ETDEWEB)

    Secrest, T.J.; Freeman, S.L. [Pacific Northwest National Lab., Richland, WA (United States); Popelka, A. [Tysak Engineering, Acton, MA (United States); Shestopal, P.A.; Gagurin, E.V. [Agency for Rational Energy Use and Ecology, Kyiv (Ukraine)

    1997-08-01

    The purpose of this assessment is to characterize the economic energy efficiency potential and investment requirements for space heating and hot water provided by district heat in the stock of state and municipal institutional buildings in the city of Kyiv. The assessment involves three activities. The first is a survey of state and municipal institutions to characterize the stock of institutional buildings. The second is to develop an estimate of the cost-effective efficiency potential. The third is to estimate the investment requirements to acquire the efficiency resource. Institutional buildings are defined as nonresidential buildings owned and occupied by state and municipal organizations. General categories of institutional buildings are education, healthcare, and cultural. The characterization activity provides information about the number of buildings, building floorspace, and consumption of space heating and hot water energy provided by the district system.

  5. Effects of daylight-saving time changes on stock market returns and stock market volatility: rebuttal.

    Science.gov (United States)

    Kamstra, Mark J; Kramer, Lisa A; Levi, Maurice D

    2013-02-01

    In a 2011 reply to our 2010 comment in this journal, Berument and Dogen maintained their challenge to the existence of the negative daylight-saving effect in stock returns reported by Kamstra, Kramer, and Levi in 2000. Unfortunately, in their reply, Berument and Dogen ignored all of the points raised in the comment, failing even to cite the Kamstra, et al. comment. Berument and Dogen continued to use inappropriate estimation techniques, over-parameterized models, and low-power tests and perhaps most surprisingly even failed to replicate results they themselves reported in their previous paper, written by Berument, Dogen, and Onar in 2010. The findings reported by Berument and Dogen, as well as by Berument, Dogen, and Onar, are neither well-supported nor well-reasoned. We maintain our original objections to their analysis, highlight new serious empirical and theoretical problems, and emphasize that there remains statistically significant evidence of an economically large negative daylight-saving effect in U.S. stock returns. The issues raised in this rebuttal extend beyond the daylight-saving effect itself, touching on methodological points that arise more generally when deciding how to model financial returns data.

  6. Stochastic Analysis and Forecasts of the Patterns of Speed, Acceleration, and Levels of Material Stock Accumulation in Society.

    Science.gov (United States)

    Fishman, Tomer; Schandl, Heinz; Tanikawa, Hiroki

    2016-04-05

    The recent acceleration of urbanization and industrialization of many parts of the developing world, most notably in Asia, has resulted in a fast-increasing demand for and accumulation of construction materials in society. Despite the importance of physical stocks in society, the empirical assessment of total material stock of buildings and infrastructure and reasons for its growth have been underexplored in the sustainability literature. We propose an innovative approach for explaining material stock dynamics in society and create a country typology for stock accumulation trajectories using the ARIMA (Autoregressive Integrated Moving Average) methodology, a stochastic approach commonly used in business studies and economics to inspect and forecast time series. This enables us to create scenarios for future demand and accumulation of building materials in society, including uncertainty estimates. We find that the so-far overlooked aspect of acceleration trends of material stock accumulation holds the key to explaining material stock growth, and that despite tremendous variability in country characteristics, stock accumulation is limited to only four archetypal growth patterns. The ability of nations to change their pattern will be a determining factor for global sustainability.

  7. Causality between stock price and GDP in Turkey: An ARDL Bounds Testing Approach

    Directory of Open Access Journals (Sweden)

    Turgut Tursoy

    2016-12-01

    Full Text Available The study investigates the dynamic relationship between stock prices and GDP in Turkey using quarterly data from 1989Q2-2014Q2. The study investigated the interrelationship between the variables via auto regressive distributive lag (ARDL framework and ECM to analyse the existence of a long-run equilibrium relationship between gross domestic product and stock prices. The results provide strong evidence that both the stock prices and GDP are strongly cointegrated in the long-run. The empirical estimation indicated a significantly positive relationship between GDP and stock prices. The robustness of the ARDL model was confirmed by using Johansen and Juselius’s cointegration test (1990. The Granger causality test results indicate a long-run bidirectional causality between stock prices and GDP, and also a uni-directional causality from GDP to stock prices in the short-run. Both the stock prices and the economic growth are directly linked with each other. The reliability and validity of our estimations are confirmed by the diagnostics and the CUSUM test.

  8. Stock selection using a hybrid MCDM approach

    Directory of Open Access Journals (Sweden)

    Tea Poklepović

    2014-12-01

    Full Text Available The problem of selecting the right stocks to invest in is of immense interest for investors on both emerging and developed capital markets. Moreover, an investor should take into account all available data regarding stocks on the particular market. This includes fundamental and stock market indicators. The decision making process includes several stocks to invest in and more than one criterion. Therefore, the task of selecting the stocks to invest in can be viewed as a multiple criteria decision making (MCDM problem. Using several MCDM methods often leads to divergent rankings. The goal of this paper is to resolve these possible divergent results obtained from different MCDM methods using a hybrid MCDM approach based on Spearman’s rank correlation coefficient. Five MCDM methods are selected: COPRAS, linear assignment, PROMETHEE, SAW and TOPSIS. The weights for all criteria are obtained by using the AHP method. Data for this study includes information on stock returns and traded volumes from March 2012 to March 2014 for 19 stocks on the Croatian capital market. It also includes the most important fundamental and stock market indicators for selected stocks. Rankings using five selected MCDM methods in the stock selection problem yield divergent results. However, after applying the proposed approach the final hybrid rankings are obtained. The results show that the worse stocks to invest in happen to be the same when the industry is taken into consideration or when not. However, when the industry is taken into account, the best stocks to invest in are slightly different, because some industries are more profitable than the others.

  9. Weather dan Pengaruhnya terhadap Stock Return

    OpenAIRE

    Bukit, Inka Natasya Hagaina; Riorini, Sri Vandayuli

    2012-01-01

    Research on psychology shows that sunny weather has effect toward mood. Some researchers found that mood has significant effect toward Stock return. This paper examines relationship between Weather in Indonesia, especially in Jakarta with Stock return of LQ 45 Index. This research examine relationship between Weather and Stock return directly and indirect (using Mood as intervening variable). This research analyze that relationship during 2009 to 2010. However, because Weather in Jakarta is r...

  10. Stock market returns, volatility, and future output

    OpenAIRE

    Hui Guo

    2002-01-01

    In this article, Hui Guo shows that, if stock volatility follows an AR(1) process, stock market returns relate positively to past volatility but relate negatively to contemporaneous volatility in Merton’s (1973) Intertemporal Capital Asset Pricing Model. The model helps explain the recent finding that stock market volatility drives out returns in forecasting real gross domestic product growth because the predictive power of returns is hampered by their positive correlation with past volatilit...

  11. Background Studies for EXIST

    Science.gov (United States)

    Wilson, Colleen A.; Pendleton, G. N.; Fishman, G. J.

    2004-01-01

    We present results from a study of the trapped proton and electron background for several orbital inclinations and altitudes. This study includes time dependent effects. In addition we describe a 3 component cosmic background model developed at the University of Southampton, UK. The three components are cosmic diffuse gamma rays, atmospheric albedo gamma rays, and cosmic ray protons. We present examples of how this model was applied to BATSE and discuss its application to EXIST.

  12. Oil Price Risk and Stock Markets

    OpenAIRE

    Niu, Hui

    2012-01-01

    The oil price risk refers to the uncertainty of the change in oil price and the stock markets studied in this paper are the so called emerging ones. Fourteen countries are selected for a quantitative research on the link between the oil price fluctuation and the stock market performance. A multi-factor model is applied and specifically an OLS regression is conducted separately for the data on Brazilian stock market. As a result, the rising oil price decreases stock price in oil-importing coun...

  13. Stock-Market Efficiency in Thin-Trading Markets: The Case of the Vietnamese Stock Market

    OpenAIRE

    Truong, Loc Dong; Lanjouw, Ger; Lensink, Robert

    2008-01-01

    Abstract This paper reviews developments in the Stock Trading Centre (STC) in Ho Chi Minh City, Vietnam, the main stock market in the country, since its start in 2000. It presents information about developments in the number of stocks traded, trading activity and stock-price developments. The article focuses on the question whether the market is weak-form efficient. An important element of the investigation concerns the possible bias of the results caused by the thin trading that c...

  14. The Value Premium on the Danish Stock Market

    DEFF Research Database (Denmark)

    Risager, Ole

    2005-01-01

    for more than half a century. We report in particular on the insights obtained when portfolios are formed on the basis of the price-earnings multiple. The paper shows that there is a value premium. The paper also analyzes whether the premium is likely to be due to risk (Fama and French (1992......A number of influential studies have documented a strong value premium for US stocks over the period 1963 to 1990 (Fama and French (1992), Lakonishok et al. (1994)). Stocks with low price-earnings multiples, price-book values and other measures of value are reported to have given a higher mean...... return than the high multiple growth firms. Work by Basu (1997) and others have shown that the value dominance is also a feature of the earlier market history of the United States. The value premium is reported also to exist in a number of other countries over the period 1975 to 1995 (Fama and French...

  15. 26 CFR 1.1296-2 - Definition of marketable stock.

    Science.gov (United States)

    2010-04-01

    ... means— (1) Passive foreign investment company (PFIC) stock that is regularly traded, as defined in... foreign investment company, that stock will be treated as marketable stock owned by that RIC for purposes... defined in section 1298(a), stock in any passive foreign investment company, that stock will be treated as...

  16. 12 CFR 931.1 - Classes of capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Classes of capital stock. 931.1 Section 931.1... STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.1 Classes of capital stock. The authorized capital stock of a Bank shall consist of the following instruments: (a) Class A stock, which shall: (1) Have a...

  17. 41 CFR 109-27.5003 - Stock control.

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Stock control. 109-27... control. (a) Stock control shall be maintained on the basis of stock record accounts of inventories on... property under stock control for greater than 90 days shall be maintained in stock record accounts. ...

  18. Building renovation with interior insulation on solid masonry walls in Denmark - A study of the building segment and possible solutions

    DEFF Research Database (Denmark)

    Odgaard, Tommy; Bjarløv, Søren Peter; Rode, Carsten

    2015-01-01

    The segment size of the Danish multi-story building stock from the period 1851-1930 is established through a unique major database managed by the Danish authorities. The outcome illustrates a large segment with 219,202 apartment units distributed over 14,832 unique buildings, all sharing characte...

  19. Evolutions of fluctuation modes and inner structures of global stock markets

    Science.gov (United States)

    Yan, Yan; Wang, Lei; Liu, Maoxin; Chen, Xiaosong

    2016-09-01

    The paper uses empirical data, including 42 globally main stock indices in the period 1996-2014, to systematically study the evolution of fluctuation modes and inner structures of global stock markets. The data are large in scale considering both time and space. A covariance matrix-based principle fluctuation mode analysis (PFMA) is used to explore the properties of the global stock markets. It has been ignored by previous studies that covariance matrix is more suitable than the correlation matrix to be the basis of PFMA. It is found that the principle fluctuation modes of global stock markets are in the same directions, and global stock markets are divided into three clusters, which are found to be closely related to the countries’ locations with exceptions of China, Russia and Czech Republic. A time-stable correlation network constructing method is proposed to solve the problem of high-level statistical uncertainty when the estimated periods are very short, and the complex dynamic network (CDN) is constructed to investigate the evolution of inner structures. The results show when the clusters emerge and how long the clusters exist. When the 2008 financial crisis broke out, the indices form one cluster. After these crises, only the European cluster still exists. These findings complement the previous studies, and can help investors and regulators to understand the global stock markets.

  20. The role of managerial stock option programs in governance: evidence from REIT stock repurchases

    NARCIS (Netherlands)

    Ghosh, C.; Giambona, E.; Harding, J.P.; Sezer, O.; Sirmans, C.F.

    2010-01-01

    This article examines the role of stock option programs and executive holdings of stock options in real estate investment trust (REIT) governance. We study the issue by analyzing how the market reaction to a stock repurchase announcement varies as a function of the individual REIT's governance

  1. The Stock Market Game: A Simulation of Stock Market Trading. Grades 5-8.

    Science.gov (United States)

    Draze, Dianne

    This guide to a unit on a simulation game about the stock market contains an instructional text and two separate simulations. Through directed lessons and reproducible worksheets, the unit teaches students about business ownership, stock exchanges, benchmarks, commissions, why prices change, the logistics of buying and selling stocks, and how to…

  2. 12 CFR 950.11 - Capital stock requirements; unilateral redemption of excess stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Capital stock requirements; unilateral redemption of excess stock. 950.11 Section 950.11 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK ASSETS AND OFF-BALANCE SHEET ITEMS ADVANCES Advances to Members § 950.11 Capital stock...

  3. Consumer Central Energy Flexibility in Office Buildings

    DEFF Research Database (Denmark)

    Ma, Zheng; Billanes, Joy Dalmacio; Jørgensen, Bo Nørregaard

    2017-01-01

    Energy flexibility in buildings will play an important role in the smart energy system. Office buildings have more potentials to provide energy flexibility to the grid compared to other types of buildings, due to the existing building management, control systems and large energy consumption....... Consumers in office buildings (building owners/managers and occupants) take a main role for adopting and engaging in building energy flexibility. In this paper provides a systematic review of consumer central energy flexibility in office buildings with the discussion of social, technical and business...... can boost energy flexibility in the office buildings....

  4. The EXIST Mission Concept Study

    Science.gov (United States)

    Fishman, Gerald J.; Grindlay, J.; Hong, J.

    2008-01-01

    scanning mode, interrupted for several orbits per day by GRB follow-ups, followed by a combined pointing-scanning mission phase for optical/IR spectroscopy and redshifts for the large AGN sample found in the survey as well as GRBs and LSST transients. A Team of university, NASA, and industry investigators will conduct the study to determine the full sensitivity and capabilities of this new configuration for EXIST. It will build on the extensive studies of the prior design for the mission and the HET and will incorporate the optical/IR telescope (hereafter IRT) now fully developed by our ITT partner for the NextView Commercial Remote Sensing mission (early 2008 launch) with a focal plane to be developed at GSFC based in part on JWST/NIRSPEC designs. No new technology is needed for either the IRT or HET instruments. The study will pay close attention to full mission cost and present a design for the Decadal Survey Workshop to ensure this even more capable EXIST mission is once again part of the next Decadal Survey.

  5. Energy Savings Measure Packages. Existing Homes

    Energy Technology Data Exchange (ETDEWEB)

    Casey, Sean [National Renewable Energy Lab. (NREL), Golden, CO (United States); Booten, Chuck [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2011-11-01

    This document presents the most cost effective Energy Savings Measure Packages (ESMP) for existing mixed-fuel and all electric homes to achieve 15% and 30% savings for each BetterBuildings grantee location across the United States. These packages are optimized for minimum cost to homeowners for source energy savings given the local climate and prevalent building characteristics (i.e. foundation types). Maximum cost savings are typically found between 30% and 50% energy savings over the reference home; this typically amounts to $300 - $700/year.

  6. Existing chemicals: international activities.

    Science.gov (United States)

    Purchase, J F

    1989-01-01

    The standards of care used in the protection of the health and safety of people exposed to chemicals has increased dramatically in the last decade. Standards imposed by regulation and those adopted by industry have required a greater level of knowledge about the hazards of chemicals. In the E.E.C., the 6th amendment of the dangerous substances directive imposed the requirement that al new chemicals should be tested according to prescribed programme before introduction on to the market. The development of a European inventory of existing chemicals was an integral part of the 6th amendment. It has now become clear that increased standards of care referred to above must be applied to the chemicals on the inventory list. There is, however, a considerable amount of activity already under way in various international agencies. The OECD Chemicals Programme has been involved in considering the problem of existing chemicals for some time, and is producing a priority list and action programme. The International Programme on Chemical Safety produces international chemical safety cards, health and safety guides and environmental health criteria documents. The international register of potentially toxic compounds (part of UNEP) has prepared chemical data profiles on 990 compounds. The International Agency for Research on Cancer prepared monographs on the carcinogenic risk of chemicals to man. So far 42 volumes have been prepared covering about 900 substances. IARC and IPCS also prepare periodic reports on ongoing research on carcinogenicity or toxicity (respectively) of chemicals. The chemical industry through ECETOC (the European Chemical Industry Ecology and Toxicology Centre) has mounted a major initiative on existing chemicals. Comprehensive reviews of the toxicity of selected chemicals are published (Joint Assessment of Commodity Chemicals). In its technical report no. 30 ECETOC lists reviews and evaluations by major national and international organisations, which provides

  7. Effects of marine protected areas on overfished fishing stocks with multiple stable states.

    Science.gov (United States)

    Takashina, Nao; Mougi, Akihiko

    2014-01-21

    Marine protected areas (MPAs) have attracted much attention as a tool for sustainable fisheries management, restoring depleted fisheries stocks and maintaining ecosystems. However, even with total exclusion of fishing effort, depleted stocks sometimes show little or no recovery over a long time period. Here, using a mathematical model, we show that multiple stable states may hold the key to understanding the tendency for fisheries stocks to recover because of MPAs. We find that MPAs can have either a positive effect or almost no effect on the recovery of depleted fishing stocks, depending on the fish migration patterns and the fishing policies. MPAs also reinforce ecological resilience, particularly for migratory species. In contrast to previous reports, our results show that MPAs have small or sometimes negative effects on the recovery of sedentary species. Unsuitable MPA planning might result in low effectiveness or even deterioration of the existing condition. © 2013 Elsevier Ltd. All rights reserved.

  8. Testing of Dependencies between Stock Returns and Trading Volume by High Frequency Data

    Directory of Open Access Journals (Sweden)

    Piotr Gurgul

    2013-09-01

    Full Text Available This paper is concerned with a dependence analysis of returns, return volatility and trading volume for five companies listed on the Vienna Stock Exchange and five from theWarsaw Stock Exchange. Taking into account high frequency data for these companies, tests based on a comparison of Bernstein copula densities using the Hellinger distance were conducted. The paper presents some patterns of causal and other relationships between stock returns, realized volatility and expected and unexpected trading volume. There is a linear causality running from realized volatility to expected trading volume, and a lack of nonlinear dependence in the opposite direction. The authors detected strong linear and nonlinear causality from stock returns to expected trading volume. They did not find causality running in the opposite direction. In addition, the existence of fractional cointegration was examined. Despite the equality of the long memory parameters of realized volatility and trading volumes, they do not move together in the long term horizon.

  9. THE PATTERNS OF EU STOCK MARKETS. IS THERE A SIGN OF CONVERGENCE?

    Directory of Open Access Journals (Sweden)

    Muresan Diana

    2013-07-01

    Full Text Available This paper offers a preliminary analysis regarding the convergence of European stock markets. The sample consists of all 27 countries of European Union split in seven sub-groups related to income level, euro adoption and development level. The patterns analysed through this article are an important indication of expected convergence in EU stock markets. This study analyses the evolution and the trend of market capitalization and stocks traded and their correlation with some important determinants, namely inflation, capital formation, enrolment years, trade, FDI, government debt. Results show a negative correlation between initial level of market capitalisation and its growth rate and also of initial level of stocks traded and its growth rate. These results could be a sign of absolute convergence. Further research in this area is needed to see if there exists conditional convergence when heterogeneity among individuals is controlled for.

  10. The Dow is Killing Me: Risky Health Behaviors and the Stock Market.

    Science.gov (United States)

    Cotti, Chad; Dunn, Richard A; Tefft, Nathan

    2015-07-01

    We investigate how risky health behaviors and self-reported health vary with the Dow Jones Industrial Average (DJIA) and during stock market crashes. Because stock market indices are leading indicators of economic performance, this research contributes to our understanding of the macroeconomic determinants of health. Existing studies typically rely on the unemployment rate to proxy for economic performance, but this measure captures only one of many channels through which the economic environment may influence individual health decisions. We find that large, negative monthly DJIA returns, decreases in the level of the DJIA, and stock market crashes are widely associated with worsening self-reported mental health and more cigarette smoking, binge drinking, and fatal car accidents involving alcohol. These results are consistent with predictions from rational addiction models and have implications for research on the association between consumption and stock prices. Copyright © 2014 John Wiley & Sons, Ltd.

  11. A case study of speculative financial bubbles in the South African stock market 2003-2006

    Science.gov (United States)

    Zhou, Wei-Xing; Sornette, Didier

    2009-03-01

    We tested 45 indices and common stocks in the South African stock market for the possible existence of a bubble over the period from January 2003 to May 2006. A bubble is defined by a faster-than-exponential acceleration with significant log-periodic oscillations. These two traits are analyzed using different methods. Sensitivity tests show that the estimated parameters are robust. With the insight of 6 additional months of data since the analysis was performed, we observe that many of the stocks on the South African market experienced an abrupt drop at mid-June 2006, which is compatible with the predicted tc for several of the stocks, but not all. This suggests that the mini-crash that occurred around mid-June of 2006 was only a partial correction, which has resumed into a renewed bubbly acceleration bound to end some time in 2007, similarly to what happened in the US market from October 1997 to August 1998.

  12. Do multiquark hadrons exist

    Energy Technology Data Exchange (ETDEWEB)

    Weinstein, J.; Isgur, N.

    1982-03-08

    The qqq-barq-bar system has been examined by solving the four-particle Schroedinger equation variationally. The main findings are that: (1) qqq-barq-bar bound states normally do not exist, (2) the cryptoexotic 0/sup + +/ sector of this system with KK-bar quantum numbers is probably the only exception to (1) and its bound states can be identified with the S* and delta just below KK-bar threshold, (3) qqq-barq-bar bound states provide a model for the weak binding and color-singlet clustering observed in nuclei, and (4) there is no indication that this system has strong resonances.

  13. The illogicality of stock-brokers: psychological experiments on the effects of prior knowledge and belief biases on logical reasoning in stock trading.

    Science.gov (United States)

    Knauff, Markus; Budeck, Claudia; Wolf, Ann G; Hamburger, Kai

    2010-10-18

    Explanations for the current worldwide financial crisis are primarily provided by economists and politicians. However, in the present work we focus on the psychological-cognitive factors that most likely affect the thinking of people on the economic stage and thus might also have had an effect on the progression of the crises. One of these factors might be the effect of prior beliefs on reasoning and decision-making. So far, this question has been explored only to a limited extent. We report two experiments on logical reasoning competences of nineteen stock-brokers with long-lasting vocational experiences at the stock market. The premises of reasoning problems concerned stock trading and the experiments varied whether or not their conclusions--a proposition which is reached after considering the premises--agreed with the brokers' prior beliefs. Half of the problems had a conclusion that was highly plausible for stock-brokers while the other half had a highly implausible conclusion. The data show a strong belief bias. Stock-brokers were strongly biased by their prior knowledge. Lowest performance was found for inferences in which the problems caused a conflict between logical validity and the experts' belief. In these cases, the stock-brokers tended to make logically invalid inferences rather than give up their existing beliefs. Our findings support the thesis that cognitive factors have an effect on the decision-making on the financial market. In the present study, stock-brokers were guided more by past experience and existing beliefs than by logical thinking and rational decision-making. They had difficulties to disengage themselves from vastly anchored thinking patterns. However, we believe, that it is wrong to accuse the brokers for their "malfunctions", because such hard-wired cognitive principles are difficult to suppress even if the person is aware of them.

  14. The illogicality of stock-brokers: psychological experiments on the effects of prior knowledge and belief biases on logical reasoning in stock trading.

    Directory of Open Access Journals (Sweden)

    Markus Knauff

    Full Text Available BACKGROUND: Explanations for the current worldwide financial crisis are primarily provided by economists and politicians. However, in the present work we focus on the psychological-cognitive factors that most likely affect the thinking of people on the economic stage and thus might also have had an effect on the progression of the crises. One of these factors might be the effect of prior beliefs on reasoning and decision-making. So far, this question has been explored only to a limited extent. METHODS: We report two experiments on logical reasoning competences of nineteen stock-brokers with long-lasting vocational experiences at the stock market. The premises of reasoning problems concerned stock trading and the experiments varied whether or not their conclusions--a proposition which is reached after considering the premises--agreed with the brokers' prior beliefs. Half of the problems had a conclusion that was highly plausible for stock-brokers while the other half had a highly implausible conclusion. RESULTS: The data show a strong belief bias. Stock-brokers were strongly biased by their prior knowledge. Lowest performance was found for inferences in which the problems caused a conflict between logical validity and the experts' belief. In these cases, the stock-brokers tended to make logically invalid inferences rather than give up their existing beliefs. CONCLUSIONS: Our findings support the thesis that cognitive factors have an effect on the decision-making on the financial market. In the present study, stock-brokers were guided more by past experience and existing beliefs than by logical thinking and rational decision-making. They had difficulties to disengage themselves from vastly anchored thinking patterns. However, we believe, that it is wrong to accuse the brokers for their "malfunctions", because such hard-wired cognitive principles are difficult to suppress even if the person is aware of them.

  15. Technical Management for Buildings

    CERN Document Server

    Vairo, Antonio

    1999-01-01

    This paper is a presentation of an 'instrument' for the optimization of the functionality and conservation of tertiary buildings. This technique has several different names: Building Automation Systems (BAS), Central Control and Monitoring System (CCMS) in English, and Gestion Technique du Bâtiment' (GTB) or Gestion Technique Centralisée (GTC) in French. With this technique it is possible to manage all the functions of a building, it is a modern instrument that introduces the concept of 'automation' in the operation of buildings using computerized procedures, earlier reserved for industrial processes. The system is structured with different automation levels with a distributed intelligence, each level characterized by a communication system (Fieldbus for the lowest and Ethernet for the highest level). In order to apply the BAS to CERN buildings it is necessary to evaluate the advantages, the CERN requirements and the integration with the several existing control and automation systems.

  16. The alarming decline of Mediterranean fish stocks.

    Science.gov (United States)

    Vasilakopoulos, Paraskevas; Maravelias, Christos D; Tserpes, George

    2014-07-21

    In recent years, fisheries management has succeeded in stabilizing and even improving the state of many global fisheries resources [1-5]. This is particularly evident in areas where stocks are exploited in compliance with scientific advice and strong institutional structures are in place [1, 5]. In Europe, the well-managed northeast (NE) Atlantic fish stocks have been recovering in response to decreasing fishing pressure over the past decade [3-6], albeit with a long way to go for a universal stock rebuild [3, 7]. Meanwhile, little is known about the temporal development of the European Mediterranean stocks, whose management relies on input controls that are often poorly enforced. Here, we perform a meta-analysis of 42 European Mediterranean stocks of nine species in 1990-2010, showing that exploitation rate has been steadily increasing, selectivity (proportional exploitation of juveniles) has been deteriorating, and stocks have been shrinking. We implement species-specific simulation models to quantify changes in exploitation rate and selectivity that would maximize long-term yields and halt stock depletion. We show that stocks would be more resilient to fishing and produce higher long-term yields if harvested a few years after maturation because current selectivity is far from optimal, especially for demersal stocks. The European Common Fisheries Policy that has assisted in improving the state of NE Atlantic fish stocks in the past 10 years has failed to deliver similar results for Mediterranean stocks managed under the same policy. Limiting juvenile exploitation, advancing management plans, and strengthening compliance, control, and enforcement could promote fisheries sustainability in the Mediterranean. Copyright © 2014 Elsevier Ltd. All rights reserved.

  17. The role of composition, invasives, and maintenance emissions on urban forest carbon stocks.

    Science.gov (United States)

    Horn, Josh; Escobedo, Francisco J; Hinkle, Ross; Hostetler, Mark; Timilsina, Nilesh

    2015-02-01

    There are few field-based, empirical studies quantifying the effect of invasive trees and palms and maintenance-related carbon emissions on changes in urban forest carbon stocks. We estimated carbon (C) stock changes and tree maintenance-related C emissions in a subtropical urban forest by re-measuring a subsample of residential permanent plots during 2009 and 2011, using regional allometric biomass equations, and surveying residential homeowners near Orlando, FL, USA. The effect of native, non-native, invasive tree species and palms on C stocks and sequestration was also quantified. Findings show 17.8 tC/ha in stocks and 1.2 tC/ha/year of net sequestration. The most important species both by frequency of C stocks and sequestration were Quercus laurifolia Michx. and Quercus virginiana Mill., accounting for 20% of all the trees measured; 60% of carbon stocks and over 75% of net C sequestration. Palms contributed to less than 1% of the total C stocks. Natives comprised two-thirds of the tree population and sequestered 90% of all C, while invasive trees and palms accounted for 5 % of net C sequestration. Overall, invasive and exotic trees had a limited contribution to total C stocks and sequestration. Annual tree-related maintenance C emissions were 0.1% of total gross C sequestration. Plot-level tree, palm, and litter cover were correlated to C stocks and net sequestration. Findings can be used to complement existing urban forest C offset accounting and monitoring protocols and to better understand the role of invasive woody plants on urban ecosystem service provision.

  18. The Role of Composition, Invasives, and Maintenance Emissions on Urban Forest Carbon Stocks

    Science.gov (United States)

    Horn, Josh; Escobedo, Francisco J.; Hinkle, Ross; Hostetler, Mark; Timilsina, Nilesh

    2015-02-01

    There are few field-based, empirical studies quantifying the effect of invasive trees and palms and maintenance-related carbon emissions on changes in urban forest carbon stocks. We estimated carbon (C) stock changes and tree maintenance-related C emissions in a subtropical urban forest by re-measuring a subsample of residential permanent plots during 2009 and 2011, using regional allometric biomass equations, and surveying residential homeowners near Orlando, FL, USA. The effect of native, non-native, invasive tree species and palms on C stocks and sequestration was also quantified. Findings show 17.8 tC/ha in stocks and 1.2 tC/ha/year of net sequestration. The most important species both by frequency of C stocks and sequestration were Quercus laurifolia Michx. and Quercus virginiana Mill., accounting for 20 % of all the trees measured; 60 % of carbon stocks and over 75 % of net C sequestration. Palms contributed to less than 1 % of the total C stocks. Natives comprised two-thirds of the tree population and sequestered 90 % of all C, while invasive trees and palms accounted for 5 % of net C sequestration. Overall, invasive and exotic trees had a limited contribution to total C stocks and sequestration. Annual tree-related maintenance C emissions were 0.1 % of total gross C sequestration. Plot-level tree, palm, and litter cover were correlated to C stocks and net sequestration. Findings can be used to complement existing urban forest C offset accounting and monitoring protocols and to better understand the role of invasive woody plants on urban ecosystem service provision.

  19. Repowering existing plants

    Energy Technology Data Exchange (ETDEWEB)

    Steazel, W.C.; Sopocy, D.M.; Pace, S.E.

    1998-07-01

    Increased competition among power generation companies, changes in generating system load requirements, lower allowable plant emissions, and changes in fuel availability and cost accentuate the need to closely assess the economics and performances of older electric generation units. Generally, decisions must be made as to whether these units should be retired and replaced with new generation capacity, whether capacity should be purchased from other generation companies, or if these existing units should be repowered. These decisions usually require the evaluation of many factors including; environmental discharge limits, permitting requirements, generating load demand increases, options for increasing the benefits of using existing facilities (e.g.; increasing efficiency and output), fuel cost increases, transmission requirements and access, optional plant designs. Many of these factors need to be used in the analysis based on a range rather than one specific value to test for changes in the selection of the best option because of future uncertainties. Usually complicated analysis results because of all the factors involved. Computer products that integrate performance and financial analysis can provide substantial value by enabling the user to evaluate the applicable plant options and range of input. The SOAPP (State-of-the-Art Power Plant) family of software products provides easy to use tools for rapid, thorough and economical evaluation of plant option. Repowering evaluation methodology typically used in the US, technology options, and available SOAPP repowering software are reviewed in this paper.

  20. Building Social Web Applications

    CERN Document Server

    Bell, Gavin

    2009-01-01

    Building a web application that attracts and retains regular visitors is tricky enough, but creating a social application that encourages visitors to interact with one another requires careful planning. This book provides practical solutions to the tough questions you'll face when building an effective community site -- one that makes visitors feel like they've found a new home on the Web. If your company is ready to take part in the social web, this book will help you get started. Whether you're creating a new site from scratch or reworking an existing site, Building Social Web Applications

  1. Integrating Life Cycle Energy into the Design of Façade Refurbishment for a Post-War Residential Building in The Netherlands

    Directory of Open Access Journals (Sweden)

    Paressa Loussos

    2015-05-01

    Full Text Available The existing building stock has been in the focus of European Union policies for energy savings. Nevertheless, energy certification schemes refer mostly to operational energy and usually do not consider aspects related to the life cycle of the building. To look at the overall energy cost during the lifespan of a building, the energy used to produce and assemble the building materials also needs to be included. This paper develops a design methodology for existing residential buildings that aims at decreasing the life cycle energy use as much as possible. This approach was applied on a case study of an existing post-war residential building in Utrecht, The Netherlands. The main focus of this study is to find a design solution for façade retrofitting that considers both embodied and operational energy. The design approach is based on comparing different strategies for the use of façade materials. This design methodology can be replicated in other projects, as the conclusions and recommendations can also be used for future refurbishment projects for which a low operational energy and materials with a low embodied energy are desired.

  2. Calculating CO2 uptake for existing concrete structures during and after service life.

    Science.gov (United States)

    Andersson, Ronny; Fridh, Katja; Stripple, Håkan; Häglund, Martin

    2013-10-15

    This paper presents a model that can calculate the uptake of CO2 in all existing concrete structures, including its uptake after service life. This is important for the calculation of the total CO2 uptake in the society and its time dependence. The model uses the well-documented cement use and knowledge of how the investments are distributed throughout the building sector to estimate the stock of concrete applications in a country. The depth of carbonation of these applications is estimated using two models, one theoretical and one based on field measurements. The maximum theoretical uptake potential is defined as the amount of CO2 that is emitted during calcination at the production of Portland cement, but the model can also, with some adjustments, be used for the other cement types. The model has been applied on data from Sweden and the results show a CO2 uptake in 2011 in all existing structures of about 300,000 tonnes, which corresponds to about 17% of the total emissions (calcination and fuel) from the production of new cement for use in Sweden in the same year. The study also shows that in the years 2030 and 2050, an increase in the uptake in crushed concrete, from 12,000 tonnes today to 200,000 and 500,000 tonnes of CO2, respectively, could be possible if the waste handling is redesigned.

  3. Building calculations

    DEFF Research Database (Denmark)

    Jensen, Bjarne Christian; Hansen, Svend Ole

    Textbook on design of large panel building including rules on robustness and a method for producing the Statical documentattion......Textbook on design of large panel building including rules on robustness and a method for producing the Statical documentattion...

  4. Building America

    Energy Technology Data Exchange (ETDEWEB)

    Brad Oberg

    2010-12-31

    IBACOS researched the constructability and viability issues of using high performance windows as one component of a larger approach to building houses that achieve the Building America 70% energy savings target.

  5. Solar building

    OpenAIRE

    Zhang, Luxin

    2014-01-01

    In my thesis I describe the utilization of solar energy and solar energy with building integration. In introduction it is also mentioned how the solar building works, trying to make more people understand and accept the solar building. The thesis introduces different types of solar heat collectors. I compared the difference two operation modes of solar water heating system and created examples of solar water system selection. I also introduced other solar building applications. It is conv...

  6. Existence of Minkowski space

    CERN Document Server

    Wagner, Serge

    2016-01-01

    Physics textbooks present Minkowski space as an almost pure mathematical construct, without any explicit restriction on a domain where it is applicable in physics. Meanwhile, its physical meaning cannot but follow the same premises as those which underlies the special relativity theory: motion of free point particles and propagation of electromagnetic waves. However, the common formalism of coordinate transformations between any two inertial frames appears too ponderous to infer the existence of Minkowski space. For this reason, the time dilation and retardation, the contraction of the length along and the spatial invariance across the direction of relative motion of two frames are presented in a coordinate-free manner. This results in the transformation between two frames in the form of relationships between the time moments and the components of the position vector of a given event, along and across the directions of the frames' motion. The obtained transformation rules for the components of the position ve...

  7. Mandatory IFRS Reporting and Stock Price Informativeness

    NARCIS (Netherlands)

    Beuselinck, C.A.C.; Joos, P.P.M.; Khurana, I.K.; van der Meulen, S.

    2010-01-01

    In this paper, we examine whether mandatory adoption of IFRS influences the flow of firm-specific information and contributes to stock price informativeness as measured by stock return synchronicity. Using a constant sample of 1,904 mandatory IFRS adopters in 14 EU countries for the period

  8. Risk-based stock decisions for projects

    NARCIS (Netherlands)

    W.L. van Jaarsveld (Willem); R. Dekker (Rommert)

    2009-01-01

    textabstractIn this report we discuss a model that can be used to determine stocking levels using the data that comes forward from a Shell RCM analysis and the data available in E-SPIR. The model is appropriate to determine stock quantities for parts that are used in redundancy situations, and for

  9. Selecting the Optimum Army Stock Fund Structure

    Science.gov (United States)

    1991-08-01

    divisions: * Operations management * Financial management * Office organization * Performance analysis * Personnel. THE ARMY WHOLESALE STOCK FUND Operations...with DCSLOG. Office Organization Each MSC has a stock fund office, normally subordinate to the Directorate of Materiel Management, that is supervised...to subordinate elements of the retail divisions. Office Organization All ASF retail divisions are governed by OSD and HQDA guidance to operate their

  10. Jump Detection in the Danish Stock Market

    DEFF Research Database (Denmark)

    Høg, Esben

    2002-01-01

    It is well known in financial economics that stock market return data are often modelled by a diffusion process with some regular drift function. Occasionally, however, sudden changes or jumps occur in the return data. Wavelet scaling methods are used to detect jumps and cusps in stock market...

  11. Bun splitting: a practical cutting stock problem

    NARCIS (Netherlands)

    C.A. Glass (Catherine); J.M. van Oostrum (Jeroen)

    2010-01-01

    textabstractWe describe a new hierarchical 2D-guillotine Cutting Stock Problem. In contrast to the classic cutting stock problem, waste is not an issue. The problem relates to the removal of a defective part and assembly of the remaining parts into homogeneous size blocks. The context is the packing

  12. Stock market volatility and macroeconomic uncertainty

    NARCIS (Netherlands)

    Arnold, I.J.M.; Vrugt, E.B.

    2006-01-01

    This paper provides empirical evidence on the link between stock market volatility and macroeconomic uncertainty. We show that US stock market volatility is significantly related to the dispersion in economic forecasts from SPF survey participants over the period from 1969 to 1996. This link is much

  13. A Tale of Two Stock Markets

    Science.gov (United States)

    Armstrong, Michelle Hine; Piercey, Victor I.; Greene-Hunley, Stephanie

    2015-01-01

    This article describes two different projects using the stock market as a context for learning. For both projects, students "bought" shares in individual companies, tracked stock prices for a period of time, and then "sold" their shares at a gain or loss. The projects are adaptable for students in late elementary school through…

  14. Does Stock Market Performance Influence Retirement Intentions?

    Science.gov (United States)

    Goda, Gopi Shah; Shoven, John B.; Slavov, Sita Nataraj

    2012-01-01

    Media reports predicted that the stock market decline in October 2008 would cause changes in retirement intentions, due to declines in retirement assets. We use panel data from the Health and Retirement Study to investigate the relationship between stock market performance and retirement intentions during 1998-2008, a period that includes the…

  15. Dynamic behavior of value and growth stocks

    NARCIS (Netherlands)

    Wouters, T.; Plantinga, A.

    2004-01-01

    The difference between the performance of growth and value portfolios presents an interesting puzzle for researchers in finance. Most studies showed that value stocks outperform growth stocks. This is the so-called value premium. In this article, we try to find an answer to the question as to why

  16. Legal institutions, strategic default, and stock returns

    NARCIS (Netherlands)

    Favara, G.; Schroth, E.; Valta, P.

    2008-01-01

    This paper studies the impact of legal institutions on stock returns. More specifically, we examine how differences in debt enforcement and creditor protection around the world affect stock returns of individual firms. We hypothesize that if legal institutions prevent shareholders from engaging in

  17. EXIST Perspective for SFXTs

    Science.gov (United States)

    Ubertini, Pietro; Sidoli, L.; Sguera, V.; Bazzano, A.

    2009-12-01

    Supergiant Fast X-ray Transients (SFXTs) are one of the most interesting (and unexpected) results of the INTEGRAL mission. They are a new class of HMXBs displaying short hard X-ray outbursts (duration less tha a day) characterized by fast flares (few hours timescale) and large dinamic range (10E3-10E4). The physical mechanism driving their peculiar behaviour is still unclear and highly debated: some models involve the structure of the supergiant companion donor wind (likely clumpy, in a spherical or non spherical geometry) and the orbital properties (wide separation with eccentric or circular orbit), while others involve the properties of the neutron star compact object and invoke very low magnetic field values (B 1E14 G, magnetars). The picture is still highly unclear from the observational point of view as well: no cyclotron lines have been detected in the spectra, thus the strength of the neutron star magnetic field is unknown. Orbital periods have been measured in only 4 systems, spanning from 3.3 days to 165 days. Even the duty cycle seems to be quite different from source to source. The Energetic X-ray Imaging Survey Telescope (EXIST), with its hard X-ray all-sky survey and large improved limiting sensitivity, will allow us to get a clearer picture of SFXTs. A complete census of their number is essential to enlarge the sample. A long term and continuous as possible X-ray monitoring is crucial to -(1) obtain the duty cycle, -(2 )investigate their unknown orbital properties (separation, orbital period, eccentricity),- (3) to completely cover the whole outburst activity, (4)-to search for cyclotron lines in the high energy spectra. EXIST observations will provide crucial informations to test the different models and shed light on the peculiar behaviour of SFXTs.

  18. Building envelope

    CSIR Research Space (South Africa)

    Gibberd, Jeremy T

    2009-01-01

    Full Text Available This chapter describes the way building envelopes can contribute to developing green buildings and sets out some objectives that could be aimed for. It also proposes a number of approaches that can be used to help design green building envelopes...

  19. Healthy Buildings?

    Science.gov (United States)

    Grubb, Deborah

    Health problems related to school buildings can be categorized in five major areas: sick-building syndrome; health-threatening building materials; environmental hazards such as radon gas and asbestos; lead poisoning; and poor indoor air quality due to smoke, chemicals, and other pollutants. This paper provides an overview of these areas,…

  20. Energy efficient and healthy buildings

    Energy Technology Data Exchange (ETDEWEB)

    Gullberg, Monica [AaF Process (Sweden); Oefverholm, Egil [Swedish Energy Agency, Eskilstuna (Sweden); Bengtsson, Magnus; Tolstoy, Nikolaj [National Board of Housing, Building and Planning (Sweden)

    2007-07-01

    Indoor environment has become an important subject matter in Scandinavia since increasingly many buildings demonstrate poor indoor air quality, problems with mould and other sick building syndromes. There are worries that the malignity is derived from tighter constructions and more sparse ventilation since problems have been escalating contemporary to better energy efficiency in the building stock. Based on this possible linkage, Sweden has decided to include also indoor environment aspects in the implementation of the directive on energy declaration of buildings. By the same token, a co-operation between the Swedish Energy Agency and the National Board of Housing, Building and Planning is underway where more than 100 schools are investigated regarding their energy usage patterns as well as their indoor environment status. Results from this inventory will be elaborated in this paper. The hypothesis for the investigation is that it is quite possible to demonstrate energy efficient and healthy buildings, and therefore results will give no significant statistical linkage between poor indoor quality and low specific energy use. Preliminary findings underpin this assumption. The paper will discuss the factors and their statistical interaction in more detail, and a discussion will be held on what other reasons there can be behind the sick buildings.

  1. Evaluating Different Green School Building Designs for Albania: Indoor Thermal Comfort, Energy Use Analysis with Solar Systems

    Science.gov (United States)

    Dalvi, Ambalika Rajendra

    Improving the conditions of schools in many parts of the world is gradually acquiring importance. The Green School movement is an integral part of this effort since it aims at improving indoor environmental conditions. This would in turn, enhance student- learning while minimizing adverse environmental impact through energy efficiency of comfort-related HVAC and lighting systems. This research, which is a part of a larger research project, aims at evaluating different school building designs in Albania in terms of energy use and indoor thermal comfort, and identify energy efficient options of existing schools. We start by identifying three different climate zones in Albania; Coastal (Durres), Hill/Pre-mountainous (Tirana), mountainous (Korca). Next, two prototypical school building designs are identified from the existing stock. Numerous scenarios are then identified for analysis which consists of combinations of climate zone, building type, building orientation, building upgrade levels, presence of renewable energy systems (solar photovoltaic and solar water heater). The existing building layouts, initially outlined in CAD software and then imported into a detailed building energy software program (eQuest) to perform annual simulations for all scenarios. The research also predicted indoor thermal comfort conditions of the various scenarios on the premise that windows could be opened to provide natural ventilation cooling when appropriate. This study also estimated the energy generated from solar photovoltaic systems and solar water heater systems when placed on the available roof area to determine the extent to which they are able to meet the required electric loads (plug and lights) and building heating loads respectively. The results showed that there is adequate indoor comfort without the need for mechanical cooling for the three climate zones, and that only heating is needed during the winter months.

  2. Modeling Chaotic Behavior of Chittagong Stock Indices

    Directory of Open Access Journals (Sweden)

    Shipra Banik

    2012-01-01

    Full Text Available Stock market prediction is an important area of financial forecasting, which attracts great interest to stock buyers and sellers, stock investors, policy makers, applied researchers, and many others who are involved in the capital market. In this paper, a comparative study has been conducted to predict stock index values using soft computing models and time series model. Paying attention to the applied econometric noises because our considered series are time series, we predict Chittagong stock indices for the period from January 1, 2005 to May 5, 2011. We have used well-known models such as, the genetic algorithm (GA model and the adaptive network fuzzy integrated system (ANFIS model as soft computing forecasting models. Very widely used forecasting models in applied time series econometrics, namely, the generalized autoregressive conditional heteroscedastic (GARCH model is considered as time series model. Our findings have revealed that the use of soft computing models is more successful than the considered time series model.

  3. Recurrence quantification analysis of global stock markets

    Science.gov (United States)

    Bastos, João A.; Caiado, Jorge

    2011-04-01

    This study investigates the presence of deterministic dependencies in international stock markets using recurrence plots and recurrence quantification analysis (RQA). The results are based on a large set of free float-adjusted market capitalization stock indices, covering a period of 15 years. The statistical tests suggest that the dynamics of stock prices in emerging markets is characterized by higher values of RQA measures when compared to their developed counterparts. The behavior of stock markets during critical financial events, such as the burst of the technology bubble, the Asian currency crisis, and the recent subprime mortgage crisis, is analyzed by performing RQA in sliding windows. It is shown that during these events stock markets exhibit a distinctive behavior that is characterized by temporary decreases in the fraction of recurrence points contained in diagonal and vertical structures.

  4. Energy Conservation in Existing Housing Sites; a Comparative Case Analysis in the Netherlands

    NARCIS (Netherlands)

    Hoppe, Thomas; Bressers, Johannes T.A.; Lulofs, Kristiaan R.D.

    2009-01-01

    The housing sector in the Netherlands is responsible for a significant fraction of primary energy use and CO2 emissions. Great energy conservation opportunities are to be found in the existing housing stock, especially in large renovation projects on existing sites. Energy conservation savings of up

  5. Collective Behavior of Market Participants during Abrupt Stock Price Changes.

    Directory of Open Access Journals (Sweden)

    Jun-Ichi Maskawa

    Full Text Available Under uncertainty, human and animal collectives often respond stochastically to events they encounter. Human or animal individuals behave depending on others' actions, and sometimes follow choices that are sub-optimal for individuals. Such mimetic behaviors are enhanced during emergencies, creating collective behavior of a group. A stock market that is about to crash, as markets did immediately after the Lehman Brothers bankruptcy, provides illustrative examples of such behaviors. We provide empirical evidence proving the existence of collective behavior among stock market participants in emergent situations. We investigated the resolution of extreme supply-and-demand order imbalances by increased balancing counter orders: buy and sell orders for excess supply and demand respectively, during times of price adjustment, so-called special quotes on the Tokyo Stock Exchange. Counter orders increase positively depending on the quantity of revealed counter orders: the accumulated orders in the book until then. Statistics of the coming counter order are well described using a logistic regression model with the ratio of revealed orders until then to the finally revealed orders as the explanatory variable. Results given here show that the market participants make Bayesian estimations of optimal choices to ascertain whether to order using information about orders of other participants.

  6. Mauriac syndrome still exists.

    Science.gov (United States)

    Dias, Joana; Martins, Sofia; Carvalho, Susana; Marques, Olinda; Antunes, Ana

    2013-05-01

    Mauriac syndrome (MS) is a rare complication of type 1 diabetes mellitus (DM1). It is related to low insulin concentrations and is less common since longer-acting insulins became available. It is characterized by hepatomegaly, growth and puberty delay, and the presence of elevated transaminases and serum lipids. The aim of this study was to describe the patients from a pediatric diabetic population that fulfill the criteria of MS. A retrospective analysis of the pediatric diabetic population with diagnostic criteria of MS currently followed at Hospital de Braga, was performed. From a population of 91 patients with DM1 18 years, 6 patients with the criteria for MS were identified: 5 girls, and 1 boy. The age at presentation was 13-17 years, with a minimum interval between DM1 diagnosis and MS criteria of 4 years. All the patients were prescribed intensive insulin therapy (median daily insulin dose: 0.88 U/kg). All had a previous history of poor glycemic control before the diagnosis of MS with glycated hemoglobin (HbA1c) between 8.8 and 12.9%. Increase of hepatic enzymes was present in all the patients; 4 of them had associated hepatomegaly. All the girls presented puberty delay and cushingoid features. None of the patients presented short stature and 5 of them presented mixed dyslipidemia. Although MS is an ancient entity described in DM1, it still exists, particularly in adolescent females. Being aware of MS is of extreme importance since most of the clinical features are reversible with better glycemic control. Copyright © 2012 SEEN. Published by Elsevier Espana. All rights reserved.

  7. PRN 97-7: Existing Stocks for Labeling Changes in PR Notices

    Science.gov (United States)

    EPA intends to establish October 1 as the annual compliance date for most EPA-initiated label changes specified by a PR Notice, FR Notice or similar mechanism. We will allow at least one year for an action to become effective. Other dates may apply.

  8. FMDP reactor alternative summary report. Volume 1 - existing LWR alternative

    Energy Technology Data Exchange (ETDEWEB)

    Greene, S.R.; Bevard, B.B. [and others

    1996-10-07

    Significant quantities of weapons-usable fissile materials [primarily plutonium and highly enriched uranium (HEU)] are becoming surplus to national defense needs in both the United States and Russia. These stocks of fissile materials pose significant dangers to national and international security. The dangers exist not only in the potential proliferation of nuclear weapons but also in the potential for environmental, safety, and health (ES&H) consequences if surplus fissile materials are not properly managed. This document summarizes the results of analysis concerned with existing light water reactor plutonium disposition alternatives.

  9. Fishing impact and environmental status in European seas: A diagnosis from stock assessments and ecosystem indicators

    DEFF Research Database (Denmark)

    Gascuel, Didier; Coll, Marta; Fox, Clive

    2016-01-01

    Stock-based and ecosystem-based indicators are used to provide a new diagnosis of the fishing impact and environmental status of European seas. In the seven European marine ecosystems covering the Baltic and the North-east Atlantic, (i) trends in landings since 1950 were examined; (ii) syntheses...... stocks. Fishermen adapted by increasing fishing effort and exploiting a wider part of the ecosystems. This was insufficient to compensate for the decrease in abundance of many stocks, and total landings have halved over the last 30 years. The highest fishing impact took place in the late 1990s...... in all the considered ecosystems, but no clear recovery in the biomass and ecosystem indicators is yet apparent. In addition, the mean recruitment index was shown to decrease by around 50% in all ecosystems (except the Baltic). We conclude that building this kind of diagnosis is a key step on the path...

  10. Comparison of stock valuation models with their intrinsic value in Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Ali Amiri

    2016-06-01

    Full Text Available Stock evaluation is one of the most important and most complex operational processes in the stock exchange. In financial markets, the pricing of tradable assets plays a basic role in resource allocation. After initial stock valuation of listed companies in Tehran Stock Exchange, some changes were observed in prices with the value set by the Stock Exchange. The aim of this study was to determine the model applied in the formation of stock prices in the stock market to find an appropriate market value model among value-based valuation models. To test the models of stock valuation, ordinary least square regression was used. Also, E-Views software was used for further data analysis. The sample included all the companies listed in Tehran Stock Exchange from 2008 till 2013. Based on the stratified random sampling, each industry was selected as a category and using Cochran formula, sample size of 40 participants was determined from each category. The data analysis indicated that the price-to-book ratio (P/B ratio had the highest adjustment factor and had been set as the best stock valuation model.

  11. Managerial Stock Compensation and Risky Investment

    Directory of Open Access Journals (Sweden)

    Raluca Georgiana Nastasescu

    2009-06-01

    Full Text Available This study analyzes the relationship between the mix of CEO equity-based compensation, namely stock options and restricted stock, and firms' risky investment. In general, the theory suggests that long-term compensation aligns CEOs' and shareholders' interests by inducing the managers to undertake risky investment, which has a positive impact on longterm well-being of the firm. However, as my results show, it is important to distinguish between types of awards since they can have different effects on the riskiness of the firm. In this respect, I answer the question how are different types of stock based compensation related to the executives' determination to increase or not the intensity of the firm's risky investment? I find that awarding the CEOs preponderantly with stock options positively affects the firm's level of R&D investment. Conversely, a higher proportion of restricted stock in the CEO's compensation is related to lower investment in (risky R&D. The inverse relation of causality also holds. Firms that make intensive R&D investments are more likely to award their CEOs with more stock options relative to restricted stock. Overall, the results are consistent with the theoretical prediction, in that the managerial compensation scheme plays an important role in determining the level of R&D investment.

  12. Hidden Markov Model for Stock Selection

    Directory of Open Access Journals (Sweden)

    Nguyet Nguyen

    2015-10-01

    Full Text Available The hidden Markov model (HMM is typically used to predict the hidden regimes of observation data. Therefore, this model finds applications in many different areas, such as speech recognition systems, computational molecular biology and financial market predictions. In this paper, we use HMM for stock selection. We first use HMM to make monthly regime predictions for the four macroeconomic variables: inflation (consumer price index (CPI, industrial production index (INDPRO, stock market index (S&P 500 and market volatility (VIX. At the end of each month, we calibrate HMM’s parameters for each of these economic variables and predict its regimes for the next month. We then look back into historical data to find the time periods for which the four variables had similar regimes with the forecasted regimes. Within those similar periods, we analyze all of the S&P 500 stocks to identify which stock characteristics have been well rewarded during the time periods and assign scores and corresponding weights for each of the stock characteristics. A composite score of each stock is calculated based on the scores and weights of its features. Based on this algorithm, we choose the 50 top ranking stocks to buy. We compare the performances of the portfolio with the benchmark index, S&P 500. With an initial investment of $100 in December 1999, over 15 years, in December 2014, our portfolio had an average gain per annum of 14.9% versus 2.3% for the S&P 500.

  13. Asymmetric conditional volatility in international stock markets

    Science.gov (United States)

    Ferreira, Nuno B.; Menezes, Rui; Mendes, Diana A.

    2007-08-01

    Recent studies show that a negative shock in stock prices will generate more volatility than a positive shock of similar magnitude. The aim of this paper is to appraise the hypothesis under which the conditional mean and the conditional variance of stock returns are asymmetric functions of past information. We compare the results for the Portuguese Stock Market Index PSI 20 with six other Stock Market Indices, namely the SP 500, FTSE 100, DAX 30, CAC 40, ASE 20, and IBEX 35. In order to assess asymmetric volatility we use autoregressive conditional heteroskedasticity specifications known as TARCH and EGARCH. We also test for asymmetry after controlling for the effect of macroeconomic factors on stock market returns using TAR and M-TAR specifications within a VAR framework. Our results show that the conditional variance is an asymmetric function of past innovations raising proportionately more during market declines, a phenomenon known as the leverage effect. However, when we control for the effect of changes in macroeconomic variables, we find no significant evidence of asymmetric behaviour of the stock market returns. There are some signs that the Portuguese Stock Market tends to show somewhat less market efficiency than other markets since the effect of the shocks appear to take a longer time to dissipate.

  14. TECHNICAL ANALYSIS ACCURACY AT MACEDONIAN STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    Zoran Ivanovski

    2017-06-01

    Full Text Available The main task of this paper is to determine accuracy of some of widely used technical analysis techniques for MBI-10 stocks price forecast at MSE. We are testing accuracy of several technical analysis techniques: MACD (Moving-Average Convergence/Divergence, RSI (Relative Strength Index, Stochastic Oscillator and ADX (Average Directional Index on the three most liquid stocks quoted at MSE and included in MBI-10 index. Technical analysis for MPT, ALK and KMB stocks was performed and recommendations were issued in June 2010, based on monthly and weekly data for the stocks’ price movements during six years period from 2005 to 2010, as well as on their daily price movements from 2009 to 2010. We find that technical analysis is reliable tool for MSE stocks forecasting. Technical analysis predictions for three MSE stocks were confirmed by actual stock price movements within one year period (June 2010-June 2011. We did not find any notable differences in accuracy of use of technical analysis between stocks at MSE as well as between different technical analysis techniques.

  15. Investigating stock-outs in Johannesburg’s warehouse retail liquor sector

    Directory of Open Access Journals (Sweden)

    Amit Govind

    2017-01-01

    Full Text Available Purpose: The aim of this exploratory study was to investigate how management practices and processes contribute to stock-outs in the warehouse retail liquor sector in Johannesburg.Research design: A pragmatic research philosophy was used in a multi-case approach to determine the association between business management practices and stock-outs. The unit of analysis of the study is the highest turnover outlets.Findings: The results revealed that retailers base demand forecasting on judgement and naïve or simple moving average forecast methods. There is little consideration of variability, lead time or targeted customer service levels when determining optimal inventory levels. Product breakages are common, implying that data inaccuracies and stock-outs are highly probable. Information sharing between the retailers and suppliers is limited and formal collaboration programmes do not exist. The respondents revealed that frequent stock-outs resulted in poor business performance characterised by declining sales, customer retention and competitive advantage.Limitations: Although the sample selected represented a significant portion of the top 50% contributors to the sector’s sales, the sample is small and the focus of the study is limited, which decreases the generalisability of the results.Practical implications: Retailers can reduce stock-outs by investing in improvements in demand forecasting, synchronisation through collaboration and training of employees.Originality or value: This study provides empirical evidence of the linkages between poor management practices and processes, stock-outs, customer service and business performance.

  16. Stock structure of black scabbardfish (Aphanopus carbo Lowe, 1839 in the southern northeast Atlantic

    Directory of Open Access Journals (Sweden)

    Leonel Serrano Gordo

    2009-12-01

    Full Text Available Black scabbardfish stock structure is still unknown in European waters where, due to the scarcity of biological information, the ICES considers that there is a single stock unit. This study is the final outcome of a scientific project that applies a holistic approach to research on the population structure of the black scabbardfish and aims to define the most appropriate strategy for the conservation of this resource in southern NE Atlantic waters. The factors studied include life history parameters, otolith shape analysis, parasites, landings-and-effort data and contaminants. Sampling was conducted between 2005 and 2007 in three areas of the southern NE Atlantic: mainland Portugal, Madeira and the Azores. The mainland and the Azores have an established commercial fishery, whereas the Azores has only an exploratory fishery. The majority of results indicated the existence of different stocks of black scabbardfish in the study area. Of the 8 parameters, 6 were in agreement with separate stocks between the mainland and Madeira, 5 were in agreement with separate stocks between the mainland and the Azores, and 4 were in agreement with separate stocks between Madeira and the Azores.

  17. Development and Evaluation of Algorithms to Improve Small- and Medium-Size Commercial Building Operations

    Energy Technology Data Exchange (ETDEWEB)

    Kim, Woohyun [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Katipamula, Srinivas [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Lutes, Robert G. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Underhill, Ronald M. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States)

    2016-10-31

    Small- and medium-sized (<100,000 sf) commercial buildings (SMBs) represent over 95% of the U.S. commercial building stock and consume over 60% of total site energy consumption. Many of these buildings use rudimentary controls that are mostly manual, with limited scheduling capability, no monitoring or failure management. Therefore, many of these buildings are operated inefficiently and consume excess energy. SMBs typically utilize packaged rooftop units (RTUs) that are controlled by an individual thermostat. There is increased urgency to improve the operating efficiency of existing commercial building stock in the U.S. for many reasons, chief among them is to mitigate the climate change impacts. Studies have shown that managing set points and schedules of the RTUs will result in up to 20% energy and cost savings. Another problem associated with RTUs is short-cycling, where an RTU goes through ON and OFF cycles too frequently. Excessive cycling can lead to excessive wear and lead to premature failure of the compressor or its components. The short cycling can result in a significantly decreased average efficiency (up to 10%), even if there are no physical failures in the equipment. Also, SMBs use a time-of-day scheduling is to start the RTUs before the building will be occupied and shut it off when unoccupied. Ensuring correct use of the zone set points and eliminating frequent cycling of RTUs thereby leading to persistent building operations can significantly increase the operational efficiency of the SMBs. A growing trend is to use low-cost control infrastructure that can enable scalable and cost-effective intelligent building operations. The work reported in this report describes three algorithms for detecting the zone set point temperature, RTU cycling rate and occupancy schedule detection that can be deployed on the low-cost infrastructure. These algorithms only require the zone temperature data for detection. The algorithms have been tested and validated using

  18. Economics of China's joint-stock co-operatives

    OpenAIRE

    Sun, Laixiang

    2001-01-01

    In the 1990s, a new ownership form called ‘joint-stock co-operative’ (gufen hezuozhi) became widely adopted in China’s township and village enterprise sector. The promising dynamics and high adaptive ability of the new ownership form is in contradiction with the conclusions suggested by the existing literature on industrial co-operatives and other types of employee ownership. To show the adaptive efficiency feature of the new form, this paper identifies and analyses the mechanisms that are de...

  19. Forecasting stock market volatility: Do realized skewness and kurtosis help?

    Science.gov (United States)

    Mei, Dexiang; Liu, Jing; Ma, Feng; Chen, Wang

    2017-09-01

    In this study, we investigate the predictability of the realized skewness (RSK) and realized kurtosis (RKU) to stock market volatility, that has not been addressed in the existing studies. Out-of-sample results show that RSK, which can significantly improve forecast accuracy in mid- and long-term, is more powerful than RKU in forecasting volatility. Whereas these variables are useless in short-term forecasting. Furthermore, we employ the realized kernel (RK) for the robustness analysis and the conclusions are consistent with the RV measures. Our results are of great importance for portfolio allocation and financial risk management.

  20. Energy Efficiency Potential in the U.S. Single-Family Housing Stock

    Energy Technology Data Exchange (ETDEWEB)

    Wilson, Eric J. [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Christensen, Craig B. [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Horowitz, Scott G. [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Robertson, Joseph J. [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Maguire, Jeffrey B. [National Renewable Energy Laboratory (NREL), Golden, CO (United States)

    2017-12-19

    Typical approaches for assessing energy efficiency potential in buildings use a limited number of prototypes, and therefore suffer from inadequate resolution when pass-fail cost-effectiveness tests are applied, which can significantly underestimate or overestimate the economic potential of energy efficiency technologies. This analysis applies a new approach to large-scale residential energy analysis, combining the use of large public and private data sources, statistical sampling, detailed building simulations, and high-performance computing to achieve unprecedented granularity - and therefore accuracy - in modeling the diversity of the single-family housing stock. The result is a comprehensive set of maps, tables, and figures showing the technical and economic potential of 50 plus residential energy efficiency upgrades and packages for each state. Policymakers, program designers, and manufacturers can use these results to identify upgrades with the highest potential for cost-effective savings in a particular state or region, as well as help identify customer segments for targeted marketing and deployment. The primary finding of this analysis is that there is significant technical and economic potential to save electricity and on-site fuel use in the single-family housing stock. However, the economic potential is very sensitive to the cost-effectiveness criteria used for analysis. Additionally, the savings of particular energy efficiency upgrades is situation-specific within the housing stock (depending on climate, building vintage, heating fuel type, building physical characteristics, etc.).

  1. From berries to blocks: carbon stock quantification of a California vineyard.

    Science.gov (United States)

    Morandé, Jorge Andres; Stockert, Christine M; Liles, Garrett C; Williams, John N; Smart, David R; Viers, Joshua H

    2017-12-01

    Quantifying terrestrial carbon (C) stocks in vineyards represents an important opportunity for estimating C sequestration in perennial cropping systems. Considering 7.2 M ha are dedicated to winegrape production globally, the potential for annual C capture and storage in this crop is of interest to mitigate greenhouse gas emissions. In this study, we used destructive sampling to measure C stocks in the woody biomass of 15-year-old Cabernet Sauvignon vines from a vineyard in California's northern San Joaquin Valley. We characterize C stocks in terms of allometric variation between biomass fractions of roots, aboveground wood, canes, leaves and fruits, and then test correlations between easy-to-measure variables such as trunk diameter, pruning weights and harvest weight to vine biomass fractions. Carbon stocks at the vineyard block scale were validated from biomass mounds generated during vineyard removal. Total vine C was estimated at 12.3 Mg C ha-1, of which 8.9 Mg C ha-1 came from perennial vine biomass. Annual biomass was estimated at 1.7 Mg C ha-1 from leaves and canes and 1.7 Mg C ha-1 from fruit. Strong, positive correlations were found between the diameter of the trunk and overall woody C stocks (R2 = 0.85), pruning weights and leaf and fruit C stocks (R2 = 0.93), and between fruit weight and annual C stocks (R2 = 0.96). Vineyard C partitioning obtained in this study provides detailed C storage estimations in order to understand the spatial and temporal distribution of winegrape C. Allometric equations based on simple and practical biomass and biometric measurements could enable winegrape growers to more easily estimate existing and future C stocks by scaling up from berries and vines to vineyard blocks.

  2. From berries to blocks: carbon stock quantification of a California vineyard

    Directory of Open Access Journals (Sweden)

    Jorge Andres Morandé

    2017-02-01

    Full Text Available Abstract Background Quantifying terrestrial carbon (C stocks in vineyards represents an important opportunity for estimating C sequestration in perennial cropping systems. Considering 7.2 M ha are dedicated to winegrape production globally, the potential for annual C capture and storage in this crop is of interest to mitigate greenhouse gas emissions. In this study, we used destructive sampling to measure C stocks in the woody biomass of 15-year-old Cabernet Sauvignon vines from a vineyard in California’s northern San Joaquin Valley. We characterize C stocks in terms of allometric variation between biomass fractions of roots, aboveground wood, canes, leaves and fruits, and then test correlations between easy-to-measure variables such as trunk diameter, pruning weights and harvest weight to vine biomass fractions. Carbon stocks at the vineyard block scale were validated from biomass mounds generated during vineyard removal. Results Total vine C was estimated at 12.3 Mg C ha−1, of which 8.9 Mg C ha−1 came from perennial vine biomass. Annual biomass was estimated at 1.7 Mg C ha−1 from leaves and canes and 1.7 Mg C ha−1 from fruit. Strong, positive correlations were found between the diameter of the trunk and overall woody C stocks (R2 = 0.85, pruning weights and leaf and fruit C stocks (R2 = 0.93, and between fruit weight and annual C stocks (R2 = 0.96. Conclusions Vineyard C partitioning obtained in this study provides detailed C storage estimations in order to understand the spatial and temporal distribution of winegrape C. Allometric equations based on simple and practical biomass and biometric measurements could enable winegrape growers to more easily estimate existing and future C stocks by scaling up from berries and vines to vineyard blocks.

  3. Oil Volatility Risk and Expected Stock Returns

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Pan, Xuhui (Nick)

    After the financialization of commodity futures markets in 2004-05 oil volatility has become a strong predictor of returns and volatility of the overall stock market. Furthermore, stocks' exposure to oil volatility risk now drives the cross-section of expected returns. The difference in average...... return between the quintile of stocks with low exposure and high exposure to oil volatility is significant at 0.66% per month, and oil volatility risk carries a significant risk premium of -0.60% per month. In the post-financialization period, oil volatility risk is strongly related with various measures...... of funding liquidity constraints suggesting an economic channel for the effect....

  4. Twitter as driver of stock price

    OpenAIRE

    Jubbega, Annika

    2012-01-01

    The goal of this research is to examine the dynamic relationship of Twitter and stock price, by examining the effects for the ten most valuable brands according Interbrand (2010): Coca-Cola, IBM, Microsoft, Google, McDonald’s, Intel, Nokia, Disney, Toyota and Cisco. A VAR modelling approach captures the short and long term effects of Twitter to stock price and stock price to Twitter. Effects were found for 5 of the 10 brand. For Coca-Cola and Toyota, the number of brand sentiment tweets dri...

  5. Combining Stocks and Flows of Knowledge

    DEFF Research Database (Denmark)

    Ambos, Tina C.; Nell, Phillip Christopher; Pedersen, Torben

    on the complementarity effects of different types of knowledge stocks and flows in the multinational corporation (MNC). We investigate intra-functional as well as cross-functional complementarity effects from the perspective of the knowledge recipient. We test the impact of stocks on flows on the benefit that is created...... for MNC units. Based on a comprehensive sample of 324 relationships between MNC units we find that both types of complementarity create benefits for these units, but that the effects from intra-functional combinations of knowledge stocks and flows are significantly stronger than from cross...

  6. Level crossing analysis of the stock markets

    Science.gov (United States)

    Jafari, G. R.; Movahed, M. S.; Fazeli, S. M.; Rahimi Tabar, M. Reza; Masoudi, S. F.

    2006-06-01

    We investigate the average frequency of positive slope να+ crossing for the returns of market prices. The method is based on stochastic processes in which no scaling feature is explicitly required. Using this method we define a new quantity to quantify the stage of development and activity of stock exchanges. We compare the Tehran and western stock markets and show that some, such as the Tehran (TEPIX) and New Zealand (NZX) stock exchanges, are emerging, and also that TEPIX is a non-active market and is financially motivated to absorb capital.

  7. Fish stocking density impacts tank hydrodynamics

    DEFF Research Database (Denmark)

    Rasmussen, Michael R.; Lunger, Angela; Laursen, Jesper

    2006-01-01

    The effect of stocking density upon the hydrodynamics of a circular tank, configured in a recirculation system, was investigated. Red drums Sciaenops ocellatus of approximately 140 g wet weight, were stocked at five rates varying from 0 to 12 kg m-3. The impact of the presence of fish upon tank...... hydrodynamics was established using in-tank-based Rhodamine WT fluorometry at a flow rate of 0.23 l s-1 (tank exchange rate of 1.9 h-1). With increasing numbers of animals, curvilinear relationships were observed for dispersion coefficients and tank mixing times. Stocking densities of 3, 6, 9 and 12 kg m-3...

  8. Oil Volatility Risk and Expected Stock Returns

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Pan, Xuhui (Nick)

    After the financialization of commodity futures markets in 2004-05 oil volatility has become a strong predictor of returns and volatility of the overall stock market. Furthermore, stocks' exposure to oil volatility risk now drives the cross-section of expected returns. The difference in average...... return between the quintile of stocks with low exposure and high exposure to oil volatility is significant at 0.66% per month, and oil volatility risk carries a significant risk premium of -0.60% per month. In the post-financialization period, oil volatility risk is strongly related with various measures...

  9. Net Zero Energy Buildings

    DEFF Research Database (Denmark)

    Marszal, Anna Joanna; Bourrelle, Julien S.; Musall, Eike

    2010-01-01

    and identify possible renewable energy supply options which may be considered in calculations. Finally, the gap between the methodology proposed by each organisation and their respective national building code is assessed; providing an overview of the possible changes building codes will need to undergo......The international cooperation project IEA SHC Task 40 / ECBCS Annex 52 “Towards Net Zero Energy Solar Buildings”, attempts to develop a common understanding and to set up the basis for an international definition framework of Net Zero Energy Buildings (Net ZEBs). The understanding of such buildings...... parameters used in the calculations are discussed and the various renewable supply options considered in the methodologies are summarised graphically. Thus, the paper helps to understand different existing approaches to calculate energy balance in Net ZEBs, highlights the importance of variables selection...

  10. Environmental indicators for buildings

    DEFF Research Database (Denmark)

    Dammann, S.

    Whenever we shop, the products we consider buying are labelled with the economical price we have to pay if we want to purchase them - an important parameter in our decisions as purchasers. The increrasing awareness for environmental limits and backlashes of human activities also in the building...... sector have fostered the wish to define 'the ecological price' of a building as a help for environmental conscious decision-making. In a social constructivist approach this Ph.D. thesis looks across and beyond the manifold existing approaches for environmental indicators for buildings. It acknowledges...... in the Netherlands. It identifies lines of conflict and areas of consent betweeen the relevant actors and elaborates scenarios for a possible closure of ongoing debate about environmental indicators for buildings....

  11. Laboratory Building

    Energy Technology Data Exchange (ETDEWEB)

    Herrera, Joshua M. [Sandia National Lab. (SNL-NM), Albuquerque, NM (United States)

    2015-03-01

    This report is an analysis of the means of egress and life safety requirements for the laboratory building. The building is located at Sandia National Laboratories (SNL) in Albuquerque, NM. The report includes a prescriptive-based analysis as well as a performance-based analysis. Following the analysis are appendices which contain maps of the laboratory building used throughout the analysis. The top of all the maps is assumed to be north.

  12. Potential heat savings during ongoing renovation of buildings until 2050

    DEFF Research Database (Denmark)

    Wittchen, Kim Bjarne; Kragh, Jesper; Aggerholm, Søren

    need renovation anyway due to the building materials used having reached the end of their service life. The analyses are compared with an evaluation of the effect of a 100 % compliance with the requirements as this constitutes the ultimative energy savings in combination with planned building...... renovation. Additionally, the effect of implementing more tight energy requirements has been analysed. A calculation model has been established using information from the Danish building and dwelling stock register (BBR) and data from the Danish building energy certification (EPC) scheme that include...... for the Danish 2014 strategy for energy renovation of buildings....

  13. Fuzzy C-Means Clustering Model Data Mining For Recognizing Stock Data Sampling Pattern

    Directory of Open Access Journals (Sweden)

    Sylvia Jane Annatje Sumarauw

    2007-06-01

    Full Text Available Abstract Capital market has been beneficial to companies and investor. For investors, the capital market provides two economical advantages, namely deviden and capital gain, and a non-economical one that is a voting .} hare in Shareholders General Meeting. But, it can also penalize the share owners. In order to prevent them from the risk, the investors should predict the prospect of their companies. As a consequence of having an abstract commodity, the share quality will be determined by the validity of their company profile information. Any information of stock value fluctuation from Jakarta Stock Exchange can be a useful consideration and a good measurement for data analysis. In the context of preventing the shareholders from the risk, this research focuses on stock data sample category or stock data sample pattern by using Fuzzy c-Me, MS Clustering Model which providing any useful information jar the investors. lite research analyses stock data such as Individual Index, Volume and Amount on Property and Real Estate Emitter Group at Jakarta Stock Exchange from January 1 till December 31 of 204. 'he mining process follows Cross Industry Standard Process model for Data Mining (CRISP,. DM in the form of circle with these steps: Business Understanding, Data Understanding, Data Preparation, Modelling, Evaluation and Deployment. At this modelling process, the Fuzzy c-Means Clustering Model will be applied. Data Mining Fuzzy c-Means Clustering Model can analyze stock data in a big database with many complex variables especially for finding the data sample pattern, and then building Fuzzy Inference System for stimulating inputs to be outputs that based on Fuzzy Logic by recognising the pattern. Keywords: Data Mining, AUz..:y c-Means Clustering Model, Pattern Recognition

  14. Study on Market Stability and Price Limit of Chinese Stock Index Futures Market: An Agent-Based Modeling Perspective.

    Science.gov (United States)

    Xiong, Xiong; Nan, Ding; Yang, Yang; Yongjie, Zhang

    2015-01-01

    This paper explores a method of managing the risk of the stock index futures market and the cross-market through analyzing the effectiveness of price limits on the Chinese Stock Index 300 futures market. We adopt a cross-market artificial financial market (include the stock market and the stock index futures market) as a platform on which to simulate the operation of the CSI 300 futures market by changing the settings of price limits. After comparing the market stability under different price limits by appropriate liquidity and volatility indicators, we find that enhancing price limits or removing price limits both play a negative impact on market stability. In contrast, a positive impact exists on market stability if the existing price limit is maintained (increase of limit by10%, down by 10%) or it is broadened to a proper extent. Our study provides reasonable advice for a price limit setting and risk management for CSI 300 futures.

  15. FUNDAMENTAL ANALYSIS AND DISCOUNTED FREE CASH FLOW VALUATION OF STOCKS AT MACEDONIAN STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    Nadica Ivanovska

    2014-06-01

    Full Text Available We examine the valuation performance of Discounted Free Cash Flow Model (DFCF at the Macedonian Stock Exchange (MSE in order to determine if this model offer significant level of accuracy and relevancy for stock values determination. We find that stock values calculated with DCF model are very close to average market prices which suggests that market prices oscillate near their fundamental values. We can conclude that DFCF models are useful tools for the companies’ enterprise values calculation on long term. The analysis of our results derived from stock valuation with DFCF model as well as comparison with average market stock prices suggest that discounted cash flow model is relatively reliable valuation tool that have to be used for stocks analyses at MSE.

  16. THE EFFECT OF MACROECONOMIC VARIABLES ON BANKING STOCK PRICE INDEX IN INDONESIA STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    Laduna R.

    2018-01-01

    Full Text Available Stock price index can be regarded as a barometer in the measuremet of a nation’s economic condition, besides it can also be used in conducting statistical analysis on the current market. Stock is the proof of one’s share in a company in the form of securities issued by the listed go-public companies. This study was conducted to measure the effect of macroeconomic variables such as inflation, interest rate, and exchange rate on banking stock price index in Indonesia stock exchange or Bursa Efek Indonesia (BEI. The results of study show that inflation and exchange rate posively influence the stock price index. The positive effect of the exchange rate shows that issuers who were positively affected by Rupiah (IDR depreciation appear to be the most dominant group. Meanwhile, the interest rate or Suku Bunga (SBI has a negative effect. Lower interest rate stimulates higher investments and better economic activities which increase the stock price.

  17. Hanford site post NPH building inspection plan

    Energy Technology Data Exchange (ETDEWEB)

    Wagenblast, G.R., Westinghouse Hanford

    1996-09-12

    This plan establishes consistent post-NPH building inspection procedures and defines a procedure for prioritization of buildings for inspection to ensure the safety of facilities prior to reentry. Qualification of systems for restart of operation is not included. This plan takes advantage, where possible, of existing national procedures for post-NPH inspection of buildings, of existing structural design and evaluation documentation of Hanford facilities, and current and proposed seismic instrumentation located throughout the Hanford site. A list of buildings, prioritized according to current building safety function and building vulnerability (without regard for or information about a damaging natural forces event) is provided.

  18. Predicting Stocks with Machine Learning. Stacked Classifiers and other Learners Applied to the Oslo Stock Exchange

    OpenAIRE

    Olden, Magnus

    2016-01-01

    This study aims to determine whether it is possible to make a profitable stock trading scheme using machine learning on the Oslo Stock Exchange (OSE). It compares binary classification learning algorithms and their performance. It investigates whether Stacked Ensemble Learning Algorithms, utilizing other learning algorithms predictions as additional features, outperforms other machine learning techniques. The experiments attempt to predict the daily movement of 22 stocks from OSE with 37 mach...

  19. Simulating Building Fires for Movies

    Science.gov (United States)

    Rodriguez, Ricardo C.; Johnson, Randall P.

    1987-01-01

    Fire scenes for cinematography staged at relatively low cost in method that combines several existing techniques. Nearly realistic scenes, suitable for firefighter training, produced with little specialized equipment. Sequences of scenes set up quickly and easily, without compromising safety because model not burned. Images of fire, steam, and smoke superimposed on image of building to simulate burning of building.

  20. Momentum Strategies in the Portuguese Stock Market

    National Research Council Canada - National Science Library

    Júlio Lobão; Cátia Da Mota Lopes

    2014-01-01

    .... Using a monthly sample that goes from January 1988 to April 2012, the most extensive sample ever used for the analysis of momentum profitability in the Portuguese Stock Market, we construct 32 different strategies...

  1. Influence network in Chinese stock market

    CERN Document Server

    Gao, Ya-Chun; Cai, Shi-Min

    2015-01-01

    In a stock market, the price fluctuations are interactive, that is, one listed company can influence others. In this paper, we seek to study the influence relationships among listed companies by constructing a directed network on the basis of Chinese stock market. This influence network shows distinct topological properties, particularly, a few large companies that can lead the tendency of stock market are recognized. Furthermore, by analyzing the subnetworks of listed companies distributed in several significant economic sectors, it is found that the influence relationships are totally different from one economic sector to another, of which three types of connectivity as well as hub-like listed companies are identified. In addition, the rankings of listed companies obtained from the centrality metrics of influence network are compared with that according to the assets, which gives inspiration to uncover and understand the importance of listed companies in the stock market. These empirical results are meaning...

  2. Socio-economy and stock market volatility

    Directory of Open Access Journals (Sweden)

    Md Sharif Hossain

    2017-10-01

    Full Text Available We evaluate how stock market return volatility behaves with respect to socioeconomic factors namely- interest rate volatility, foreign exchange rate volatility, S &P 500 index volatility, broad money supply volatility, per capita GDP, domestic investment, industry value addition, tertiary level of education, urbanization, and strike and blockades using time series data from 1976-2015. We find that interest rate volatility has significant positive impact on stock market return volatility where broad money supply volatility, foreign exchange rate volatility, tertiary level of education, and domestic investment have significant negative impact on stock market volatility based on stepwise regression. Therefore, increase in tertiary level of education and domestic investment makes the stock market more stable. From the estimated result of VAR model, results show no short run causality among these variables.

  3. Dynamic Stock Market Participation of Households

    DEFF Research Database (Denmark)

    Khorunzhina, Natalia

    This paper develops and estimates a dynamic model of stock market participation, where consumers’ decisions regarding stock market participation are influenced by participation costs. The practical significance of the participation costs is considered as being a channel through which financial...... education programs can affect consumers’ investment decisions. Using household data from the Panel Study of Income Dynamics, I estimate the magnitude of the participation cost, allowing for individual heterogeneity in it. The results show the average stock market articipation cost is about 5% of labor...... income; however, it varies substantially over consumers’ life. The model successfully predicts the level of the observed articipation rate and the increasing pattern of stock market participation over the consumers’ life cycle....

  4. Multifractal structures for the Russian stock market

    Science.gov (United States)

    Ikeda, Taro

    2018-02-01

    In this paper, we apply the multifractal detrended fluctuation analysis (MFDFA) to the Russian stock price returns. To the best of our knowledge, this paper is the first to reveal the multifractal structures for the Russian stock market by financial crises. The contributions of the paper are twofold. (i) Finding the multifractal structures for the Russian stock market. The generalized Hurst exponents estimated become highly-nonlinear to the order of the fluctuation functions. (ii) Computing the multifractality degree according to Zunino et al. (2008). We find that the multifractality degree of the Russian stock market can be categorized within emerging markets, however, the Russian 1998 crisis and the global financial crisis dampen the degree when we consider the order of the polynomial trends in the MFDFA.

  5. STRATEGY OF STOCK VALUATION BY FUNDAMENTAL ANALYSIS

    Directory of Open Access Journals (Sweden)

    Zoran Ivanovic

    2013-03-01

    Full Text Available Common stock valuation presents one of the most complex tasks in financial analysis. When it attemps to answer on question: „what affects on stock movements?“ then the answer would not relate only on economic factors. There are numerous factors that affect the stock price and which are almost impossible to predict. As one of the best ways to fight against many factors that make the uncertainty arises fundamental analysis. Fundamental analysis is one of the most widely used method for estimating price movements of securities which essentially analyse the impact of micro and macro economic factors on the business of the corporation in order to predict future economic and financial effects. Fundamental analysis also examine various financial statements with the aim to asses a real value of company's stock. This work has the task to systematize knowledge about fundamental analysis, so it can can serve as a good base for future research.

  6. Stock returns, macroeconomic variables and expectations

    National Research Council Canada - National Science Library

    Lúcio Linck; Roberto Frota Decourt

    2016-01-01

    ... returns in Brazil from 2000 to 2010. The study investigates the causality relationships among real stock returns, basic interest rates, GDP, ination and the market expectation of future behavior of these macroeconomic variables...

  7. Development of the stock exchange information system

    Directory of Open Access Journals (Sweden)

    Miladinović Radojko

    2006-01-01

    Full Text Available The stock exchange represents the key institution for the development of capital market of any country. Thus the information system of every stock exchange must satisfy very strict international standards. The development of these systems is particularly difficult in countries in transition, due to intense economic and legal changes, lack of technical and financial resources, lack of experience and knowledge in the area of the capital market business, etc. Therefore the special software project management methodology for their realization must be clearly defined. In the development process of the Belgrade Stock Exchange (BSE information system a new software project management methodology for its realization has been defined, the application of which is illustrated through a series of different development stages of the Belgrade Stock Exchange information system. In order to make all the problems more comprehensive, only the continuous trading method is described, being the most frequently used trading method in the world.

  8. The volatility of stock market prices.

    Science.gov (United States)

    Shiller, R J

    1987-01-02

    If the volatility of stock market prices is to be understood in terms of the efficient markets hypothesis, then there should be evidence that true investment value changes through time sufficiently to justify the price changes. Three indicators of change in true investment value of the aggregate stock market in the United States from 1871 to 1986 are considered: changes in dividends, in real interest rates, and in a direct measure of intertemporal marginal rates of substitution. Although there are some ambiguities in interpreting the evidence, dividend changes appear to contribute very little toward justifying the observed historical volatility of stock prices. The other indicators contribute some, but still most of the volatility of stock market prices appears unexplained.

  9. Accrual components and stock trading costs

    Directory of Open Access Journals (Sweden)

    Lei Qianhua

    2013-12-01

    Full Text Available This paper examines the relationship between accrual components and stock trading costs in China and finds that both abnormal and normal accruals are associated with these costs. Moreover, negative accruals, both abnormal and normal, have a greater influence on stock trading costs than positive accruals because of short-selling constraints in the Chinese stock market. Further analysis reveals that investors who are fixated on accruals are unable to separate positive or negative abnormal accruals from earnings in general. Additionally, investors overestimate the persistence of both positive and negative normal accruals. These findings constitute further evidence of the low degree of market efficiency in China. Chinese investors seem to overestimate firm value when abnormal and normal accruals are positive and underestimate it when they are negative, thus leading to an asymmetric effect on trading costs between positive and negative accruals in the face of short-selling constraints in the Chinese stock market.

  10. Religion and stock price crash risk: Evidence

    Directory of Open Access Journals (Sweden)

    Wenfei Li

    2016-09-01

    Full Text Available This paper investigates whether religious traditions influence firm-specific crash risk in China. Using a sample of A-share listed firms from 2003 to 2013, we provide evidence that the more intense the religious environment, the lower the stock price crash risk, implying that religion plays an important role in Chinese corporate governance. Further, we find that (1 religion affects stock price crash risk by reducing earnings management and the management perk problem; (2 different religions have different effects, and Taoism, in particular, is unrelated to crash risk; and (3 the effects of religion are more pronounced with higher quality corporate governance and a stronger legal environment. Religion constrains the management agency problem, thus reducing stock price crash risk in China. Our paper enriches the literature on stock price crash risk and religion, and on new economic geography.

  11. SIS - Species and Stock Administrative Data Set

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — The Species and Stock Administrative data set within the Species Information System (SIS) defines entities within the database that serve as the basis for recording...

  12. Scaling in the Bombay stock exchange index

    Indian Academy of Sciences (India)

    Abstract. In this paper we study Bombay stock exchange (BSE) index financial time series for fractal and multifractal behaviour. We show that BSE index time series is monofractal and can be represented by a fractional Brownian motion.

  13. 12 CFR 931.3 - Minimum investment in capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Minimum investment in capital stock. 931.3... CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.3 Minimum investment in capital stock. (a) A Bank shall require each member to maintain a minimum investment in the capital stock of the Bank, both...

  14. 41 CFR 101-27.406 - Disposition of stock.

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 2 2010-07-01 2010-07-01 true Disposition of stock. 101...-Elimination of Items From Inventory § 101-27.406 Disposition of stock. Stocks of slow-moving items which are... this section, shall be taken, as necessary, to remove stocks of inactive items from inventory. (a...

  15. 47 CFR 65.303 - Cost of preferred stock.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Cost of preferred stock. 65.303 Section 65.303... stock. The formula for determining the cost of preferred stock is: ER01JN95.001 Where: “Total Annual Preferred Dividends” is the total dividends on preferred stock for the most recent two years for all local...

  16. 12 CFR 925.21 - Issuance and form of stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Issuance and form of stock. 925.21 Section 925... ASSOCIATES MEMBERS OF THE BANKS Stock Requirements § 925.21 Issuance and form of stock. (a) A Bank shall issue to each new member, as of the effective date of membership, stock in the member's name for the...

  17. Evaluation of the Company Size Effect on Latin American Stock Markets

    Directory of Open Access Journals (Sweden)

    Juan Benjamín Duarte Duarte

    2013-11-01

    Full Text Available This paper assesses the existence of the size effect on the most important stock markets in Latin America (Argentina, Brazil, Chile, Colombia, Mexico and Peru for the period between 2002 and 2012, using the cross-section contrast methodology of the size effect in the CAPM context. Results show that there is reversed effect in some of the Latin American markets.

  18. Site classification of ponderosa pine stands under stocking control in California

    Science.gov (United States)

    Robert F. Powers; William W. Oliver

    1978-01-01

    Existing systems for estimating site index of ponderosa pine (Pinus ponderosa Laws.) do not apply well to California stands where stocking is controlled. A more suitable system has been developed using trends in natural height growth, derived from stem analysis of dominant trees in California. This site index system produces polymorphic patterns of...

  19. NewsMarket 2.0: Analysis of News for Stock Price Forecasting

    Science.gov (United States)

    Barazzetti, Alessandro; Mastronardi, Rosangela

    Most of the existing financial research tools use a stock's historical price and technical indicators to predict future price trends without taking into account the impact of web news. The recent explosion of demand for information on financial investment management is driving the search for alternative methods of quantitative data analysis.

  20. Taking Stock: Implications of a New Vision of Science Learning for State Science Assessment

    Science.gov (United States)

    Wertheim, Jill

    2016-01-01

    This article presents the author's response to the article "Taking Stock: Existing Resources for Assessing a New Vision of Science Learning" by Alonzo and Ke (this issue), which identifies numerous challenges that the Next Generation Science Standards (NGSS) pose for large-scale assessment. Jill Werthem comments that among those…