Future Asset Research Articles

Influence of Smart Sensors on Structural Health Monitoring Systems and Future Asset Management Practices.

Recent developments in networked and smart sensors have significantly changed the way Structural Health Monitoring (SHM) and asset management are being carried out. Since the sensor networks continuously provide real-time data from the structure being monitored, they constitute a more realistic image of the actual status of the structure where the maintenance or repair work can be scheduled based on real requirements. This review is aimed at providing a wealth of knowledge from the working principles of sensors commonly used in SHM, to artificial-intelligence-based digital twin systems used in SHM and proposes a new asset management framework. The way this paper is structured suits researchers and practicing experts both in the fields of sensors as well as in asset management equally.

부동산자산에 대한 MZ세대의 선호도에 관한 연구

This study investigated and analyzed the factors influencing the preference of MZ generation real estate assets. First, preference was confirmed by comparing real estate assets and financial assets, and then detailed preferred assets in real estate assets were examined. In addition, it was divided into the entire MZ generation, M generation, and Z generation to examine which assets each group prefers.
 Acording According to the analysis results, it was confirmed that the preferred assets of the MZ generation were different by period. At this point, it has been confirmed that financial assets are preferred to raise a large amount of money, but real estate assets are preferred at the future point. Among real estate assets, apartments were the most preferred. In addition, it was found that there are differences in asset preference influencing factors between Generation M and Generation Z.
 The results of this study will also serve as investment product marketing data for asset market suppliers and can be used as future asset market guidelines for consumers.

Ownership Concentration and Firm Value: New Evidence from Owner Stakes in IPOs

We study the relationship between ownership concentration and firm value using hand-collected data on the stakes of owner–managers before and after initial public offerings (IPOs). We instrument for the reduction in stake using market returns shortly before IPOs. Short-run market returns are plausible instruments because owners engage in market timing by selling more when prior returns are high, but high short-run returns are unlikely to directly affect firm value years after the IPO. As predicted by agency theory, a large reduction in ownership concentration at the IPO is negatively related to valuation. Future asset growth is low when owners have low stakes. This paper was accepted by Victoria Ivashina, finance. Funding: B. Larrain acknowledges funding from ANID/CONICYT Proyecto FONDECYT Regular [Grant 1180593]. Supplemental Material: The online appendix and data are available at https://doi.org/10.1287/mnsc.2021.01039 .

Determinants Factors of Islamic Financial Inclusion in West Java: A Comparison Between Generation Z and Millennials

Islamic finance is one of the fastest-expanding global financial systems, and it predicted that Islamic finance has promising future asset growth. As a country with the largest Muslim population, Indonesia has great potential in the Islamic economy and finance sector. The rise of Islamic finance in the world's financial system and Indonesia's huge potential have attracted the attention of the Indonesian government, which wants to make Indonesia a leader in the world's Islamic economy. West Java was chosen as a pilot province for other regions in developing Islamic finance. More than half of West Java's population comprises Generation Z and Millennials. These two generations will play important roles in financial institutions in the next decade and will dominate Indonesia in 2045. The main purpose of this study is to explore the determinants of Islamic financial inclusion of Generation Z and Millennials in West Java and compare them. The data from 616 respondents was collected and analyzed using PLS-SEM. It found that Generation Z and Millennials have differences in how much each factor affects them. The difference between them is that religiosity has a stronger influence on Millennials than on Generation Z, and social influence has a stronger influence on Generation Z than on Millennials. Overall, this study concludes that, consecutively, Islamic financial literacy, social influence, and religiosity influence Islamic financial inclusion among Generation Z and Millennials in West Java.

Overview of Assets 2022

The 24th International ACM SIGACCESS Conference on Computers and Accessibility (ASSETS 2022), was held in Athens, Greece between October 23rd to 26th, 2022. ASSETS continues to be the premier computing research conference exploring the design, evaluation, and use of computing and information technologies with and for people with disabilities and older adults. ASSETS 2022 was held in-person for the first time since 2019. Due to the continuing COVID-19 pandemic, a lightweight online component for virtual conference attendees was conducted as well. In order to support both accessibility and inclusivity, and balancing technical infrastructure and time-zone constraints, all presentations were also pre-recorded and captioned to support both virtual and in-person conference attendees. There were additional creative opportunities for hybrid connections and socializing across modalities, including online trivia and roundtable social networking events. We acknowledge that future ASSETS organizing committees will need to make their own decisions about the length and format of the conference, and so the decision to have an in-person with light-weight online component is not a permanent decision. Overall, ASSETS 2022 had 161 in-person and 146 virtual attendees from 38 countries and 6 continents. For the first time, we hosted 5 virtual workshops, with 94 workshop-only attendees.

Teacher perception of language differences: challenging the normative futurity and native speakerism

ABSTRACT While teachers value cultural and linguistic diversity, they see the benefits of speaking different languages in the future tense, feeling it hard to specify how language differences positively impact students’ learning in the present. This study explores teachers’ temporal perceptions of language differences, specifically focusing on how teacher perceptions of language differences as "future assets" are intertwined with native speakerism in the present. It draws on multi-year interviews that unveil how teachers prioritise monolingualism as the norm of classroom discourse and juxtaposes teachers' accounts with an immigrant child’s navigation of cultural-linguistic assets to speak Korean and English in non-school contexts. Through this, we argue that, whereas teachers see the potential benefits of speaking different languages that seek to pluralise the educational futures, they continue to hold the normative view on language differences by not being offered the epistemic tools to question whose future and whose language are imagined as the desired endpoints of language education. Approaching teachers’ statements as the outcome of the limited epistemic principles of normative futurity, this study calls for disrupting the continuity of native speakerism to support culturally and linguistically diverse students through the non-linear, reparative, and multiple relations to the futures in language education.

Cryptocurrency: Highlighting the Approach, Regulations, and Protection in Indonesia and European Union

<div><table cellspacing="0" cellpadding="0" align="left"><tbody><tr><td align="left" valign="top"><p class="Copyright">The speed of the adoption and use of cryptocurrency that utilizes blockchain technology as its central infrastructure is expanding globally, including in Indonesia. It has promising prospects as a future asset and payment instrument. However, the regulations in Indonesia are often delayed and inadequate for dealing with cryptocurrency's developments. This research is intended to analyze the approaches, regulations, and protection of the use of cryptocurrency. This study argues that the regulatory approach to using cryptocurrency is balanced, while Indonesia has a partial status in cryptocurrency legality. The government’s protection of cryptocurrency investors is adequate in using cryptocurrency as a commodity traded on futures exchanges with a license from <em>Bappebti</em>. A progressive policy for establishing the Digital Asset Law by the government is important due to the resultant clarity in the regulatory status of cryptocurrency will allow the ecosystem to grow and promote innovation, thus harnessing the benefits of cryptocurrency while mitigating related risks.</p></td></tr></tbody></table></div>

A study of gold and bitcoin trading strategies based on quantitative trading decision models

In the computer era, high frequency trading is one of the hottest topics in the financial investment market. In this paper, a quantitative trading decision analysis is conducted for a portfolio consisting of gold and bitcoin, applying gray prediction to get the future asset price, applying time series to predict the risk of purchasing the asset, and combining the two to make a reasonable buying and selling operation. To prove the accuracy of the prediction, the MSE indicator is used to measure the error of the gray prediction model, and the results show that the error is small. Finally this paper also proves that the model is well robust by varying the transaction cost.

Predicting Stock Trend Using GNN

In stock market, numerous ways have been used to predict the future asset return. Traditional time series models and neural network models are both popular in practice. Many of them have been shown that they do not make full use of the property of long-term dependency while with the help of graph structure, one can turn time series into complex network and keep the long-term dependency property. To make use of the property of the long memory of financial market in prediction, our framework first applies the visibility method to turn stock price data into graph structure, and then applies graph neural network to make graph classification task to let the network learn the overall topological structure of the graphs. The result shows that with the use of such property, our model can successfully forecast the future stock trend.

Offshore decommissioning horizon scan: Research priorities to support decision-making activities for oil and gas infrastructure

Thousands of oil and gas structures have been installed in the world's oceans over the past 70 years to meet the population's reliance on hydrocarbons. Over the last decade, there has been increased concern over how to handle decommissioning of this infrastructure when it reaches the end of its operational life. Complete or partial removal may or may not present the best option when considering potential impacts on the environment, society, technical feasibility, economy, and future asset liability. Re-purposing of offshore structures may also be a valid legal option under international maritime law where robust evidence exists to support this option. Given the complex nature of decommissioning offshore infrastructure, a global horizon scan was undertaken, eliciting input from an interdisciplinary cohort of 35 global experts to develop the top ten priority research needs to further inform decommissioning decisions and advance our understanding of their potential impacts. The highest research priorities included: (1) an assessment of impacts of contaminants and their acceptable environmental limits to reduce potential for ecological harm; (2) defining risk and acceptability thresholds in policy/governance; (3) characterising liability issues of ongoing costs and responsibility; and (4) quantification of impacts to ecosystem services. The remaining top ten priorities included: (5) quantifying ecological connectivity; (6) assessing marine life productivity; (7) determining feasibility of infrastructure re-use; (8) identification of stakeholder views and values; (9) quantification of greenhouse gas emissions; and (10) developing a transdisciplinary decommissioning decision-making process. Addressing these priorities will help inform policy development and governance frameworks to provide industry and stakeholders with a clearer path forward for offshore decommissioning. The principles and framework developed in this paper are equally applicable for informing responsible decommissioning of offshore renewable energy infrastructure, in particular wind turbines, a field that is accelerating rapidly.

Investor Behavior Under Epistemic vs. Aleatory Uncertainty

We provide evidence that investor behavior is sensitive to two dimensions of subjective uncertainty concerning future asset values. Investors vary in the extent to which they attribute market uncertainty to (1) missing knowledge, skill, or information (epistemic uncertainty) and (2) chance or stochastic processes (aleatory uncertainty). Investors who view stock market uncertainty as higher in epistemicness (knowability) are more likely to reduce uncertainty by seeking guidance from experts and are more responsive more responsive to available information when choosing whether to invest. In contrast, investors who view stock market uncertainty as higher in aleatoriness (randomness) are more likely to reduce uncertainty through diversification, and their risk preferences better predict whether they choose to invest. We show, further, that attributions of uncertainty can be perturbed by the format in which historical information is presented: charts displaying absolute stock prices promote perceptions of epistemicness and greater willingness to pay for financial advice, whereas charts displaying the change in stock prices from one period to the next promote perceptions of aleatoriness and a greater tendency to diversify. This paper was accepted by Yuval Rottenstreich, behavioral economics and decision analysis. Funding: This material is based upon work supported by the National Science Foundation [Grant SES-1427469] to C. R. Fox and Gülden Ülkümen. Additional support for this work was provided by INSEAD and UCLA Anderson School of Management. Supplemental Material: The online appendix and data are available at https://doi.org/10.1287/mnsc.2022.4489 .

The Phenomenon of Juvenile Delinquency that Occurs in the Era of Globalization

Youth is the future asset of a nation. But nowadays, a lot is happening to teenagers, such as drugs and motorcycle gangs. This is a familiar problem. Juvenile delinquency includes all behavior that deviates from criminal law norms committed by juveniles. This study aims to determine the causes, impacts, and solutions to juvenile delinquency. The research method used is a literature review or literature review with qualitative data analysis. The variable in this study is juvenile delinquency in the era of globalization. From the results of this study, many internal and external factors cause juvenile delinquency that needs attention. In addition, juvenile delinquency can impact oneself, family, and society.

Pricing and Hedging Index Options under Mean-Variance Criteria in Incomplete Markets

This paper studies the portfolio selection problem where tradable assets are a bank account, and standard put and call options are written on the S&P 500 index in incomplete markets in which there exist bid–ask spreads and finite liquidity. The problem is mathematically formulated as an optimization problem where the variance of the portfolio is perceived as a risk. The task is to find the portfolio which has a satisfactory return but has the minimum variance. The underlying is modeled by a variance gamma process which can explain the extreme price movement of the asset. We also study how the optimized portfolio changes subject to a user’s views of the future asset price. Moreover, the optimization model is extended for asset pricing and hedging. To illustrate the technique, we compute indifference prices for buying and selling six options namely a European call option, a quadratic option, a sine option, a butterfly spread option, a digital option, and a log option, and propose the hedging portfolios, which are the portfolios one needs to hold to minimize risk from selling or buying such options, for all the options. The sensitivity of the price from modeling parameters is also investigated. Our hedging strategies are decent with the symmetry property of the kernel density estimation of the portfolio payout. The payouts of the hedging portfolios are very close to those of the bought or sold options. The results shown in this study are just illustrations of the techniques. The approach can also be used for other derivatives products with known payoffs in other financial markets.

Central Bank Balance Sheet Policies Without Rational Expectations

Abstract We study the effects of central bank balance sheet policies—namely, quantitative easing and foreign exchange interventions—in a model where people form expectations through an iterative level-k thinking process. We emphasize two main theoretical results. First, under a broad set of conditions, central bank interventions are effective under level-k thinking, while they are neutral in the rational expectations equilibrium. Second, when preferences exhibit constant relative risk aversion, asset purchases increase aggregate output if they target assets with pro-cyclical returns but reduce it if asset returns are counter-cyclical. Finally, we empirically show that forecast errors about future asset prices are predictable by balance sheet interventions, a property that differentiates our channel from popular alternatives, such as portfolio-balance and signaling channels.

The Multi-Goal Framework: Why Practitioners Have Not Adopted the Lifecycle Model—Yet

Investors have multiple goals throughout their lifetime, each requiring complex interconnected decisions about saving, consumption, and asset allocation. Economists have developed a theoretical solution to solve for lifetime retirement income using stochastic dynamic programming. However, practitioner adoption of this approach has been limited. We theorize that this is due to the inability of stochastic dynamic programming to address multiple investor goals due to the inherent computational complexity in the approach. We put forward a life-cycle model incorporating multiple goals that are relevant for retirement investors in the presence of uncertain future asset returns and longevity. Our objective is to maximize investors’ expected utility over their lifetime. We use a goal fulfillment gap as a metric to quantify the value added by an optimized strategy, and to illustrate the optimal consumption and asset-allocation decisions recommended by the model.

Study on Breeding Practices and Reproductive Performance of Black-Head Somali Sheep under Traditional Management System: The Case of Awbarre District, Eastern Ethiopia

The study was conducted in the Awbarre district of the Fafen zone of the Somali regional state of Ethiopia. The objective of the study was to assess the breeding practices and reproductive performance of Black-head Somali sheep under a traditional management system. Purposive and simple random sampling techniques were used to select targeted kebeles and households, respectively. A total of 120 households were selected from four kebeles, each of 30 households, based on the production system and sheep population. Semi-structured questionnaires, group discussions, key informants interviews and field observations were used to generate the required data. The primary purpose of keeping sheep was for income generation, followed by saving as a future asset. The majority (89.2%) of the respondents separated male and female animals during herding. The selection criteria for breeding rams were appearance, growth, pedigree, and color while for breeding ewes were appearance, adaptability, pedigree, color, and lamb growth. The overall weaning age of Black-head Somali sheep in the study area was 3.7 months for both males & females. The castration of male sheep was common for the purpose of fattening, fattening with breeding control and breeding control as well. The castration is mainly performed during the summer and autumn and the methods of castration were both traditional and modern methods, the traditional castration method being the most important one in pastoral areas. The age of sexual maturity was 7.64 months for rams and 8.97 months for ewe’s male and female lambs in the pastoral area and 8.42 & 8.38 for rams & ewes in agro-pastoral and overall lambing interval was 11 months. On average, the ewe of Black-head Somali sheep in pastoral & agro-pastoral could produce 9.49 & 9.57 lambs, respectively in their lifetime. As the pastoralists and agro-pastoralists indicated the source of the breeding ram was their own, so the exchange of breeding ram is recommended to minimize the risk of inbreeding and further studies of on-farm performance investigation would be necessary to be carried out so as to understand the uniqueness of the breed better.

A COMPREHENSIVE REVIEW OF IT AUDIT METHODOLOGIES IN THE AGE OF QUANTUM COMPUTING

The emergence of quantum computing presents a profound challenge and opportunity for information technology (IT) audit methodologies and IT security. Quantum computing’s potential to break classical encryption methods and its promise of exponential computational power necessitate a proactive response. This comprehensive review explores the fundamentals of quantum computing, the vulnerabilities of classical encryption, the transition to quantum-safe encryption, and the role of IT auditors in navigating this quantum landscape. Additionally, we address emerging quantum technologies, ethical considerations, and the interplay between quantum computing and IT security. To thrive in the quantum era, organisations are advised to plan for quantum-safe transitions, invest in quantum-resistant cryptography, monitor evolving regulations, develop quantum-ready workforces, integrate Quantum Key Distribution (QKD), and adopt a long-term security strategy. Adapting IT audit methodologies to the quantum era requires a multidisciplinary approach, and the recommendations provided here aim to guide organisations in securing their digital assets in this transformative quantum-empowered future.

ТРАНСФОРМАЦИЯ ПОДХОДОВ К ОЦЕНКЕ ЭФФЕКТИВНОСТИ ДЕЯТЕЛЬНОСТИ: ОПЫТ ОТЕЧЕСТВЕННЫХ КОМПАНИЙ

The article discusses the transformation of approaches to assessing operational efficiency based on the experience of oil and gas companies, in particular PJSC Gazprom Neft and its structural divisions. The reviewed oil and gas production companies pay special attention to operational efficiency as a reflection of the ability to maximize productivity and achieve the best results with the use of resources. The operational management system implemented in the company under study includes XNUMX major blocks: operational efficiency, operational reliability and operational culture. This system makes it possible to optimize production, set ambitious goals through capacity assessment planning, and create a production environment conducive to continuous improvement and elimination of losses. Gazprom Neft’s structural divisions are implementing the Future Asset programme, which includes XNUMX products, under which the Operations Director’s unit is responsible for direct operational processes in the company’s divisions, while the Technical Director’s unit is responsible for budgeting, contract management, and material resources management. This allows for an integrated approach to production management. In this case, the criteria for assessing the effectiveness of the functioning of the units are cost-effectiveness, target performance depending on the potential of the infrastructure laid down. This experience may be useful for other organizations wishing to improve their operational efficiency and sustainability.

Mean-risk model for uncertain portfolio selection with background risk and realistic constraints

<p style='text-indent:20px;'>This paper studies a portfolio selection problem in such a situation where the future asset return rates cannot be well obtained by historical data but have to be given by experts' evaluations. In order to reflect the impact of realistic conditions on investment decisions, background risk and some realistic constraints are also considered. First, a nonlinear uncertain mean-risk model for uncertain portfolio selection is proposed. For further discussion, the crisp equivalent forms of the model are presented. Then, an effective solution method for solving the model is obtained. Furthermore, the influence of background risk on investment strategies is discussed by comparing the optimal expected return with background risk with that without background risk. Finally, some numerical examples are provided to illustrate the performance and applications of the model.</p>

PERAN PENDIDIK KRISTEN DALAM PENCEGAHAN KENAKALAN REMAJA DALAM MENYONGSONG MASYARAKAT 5.0

The lives of today's teenagers determine the future of a nation because teenagers are the nation's future assets. However, recently juvenile delinquency behavior is often very concerning. Amid this situation, the role of Christian educators is very much needed to foster and guide teenagers so that they have good character. The formulation of the problem in this paper is what is the role of Christian religious teachers in the church in preventing juvenile delinquency? So the purpose of this study was to determine the role of Christian religious teachers in the church in preventing juvenile delinquency. This study uses a library research approach. From this research, the results are, first, Christian educators play a role in implementing Christian hospitality. This means that Christian educators should love teenagers and make it happen by providing motivation and encouragement to teenagers to become good people. Second, play a role in conducting counseling guidance. Counseling carried out on adolescents is expected to provide true knowledge about God and satisfaction in receiving the counseling service. Third, play a role in developing youth talents. Because of this role, teenagers can develop the talents that exist in themselves and teenagers can do more positive and good activities. Fourth, make discipleship of the youth. Because teenagers must be guided to stay centered on God.