Leasing Services Research Articles

Profit Optimization for Mileage-Based Pricing of Electric Vehicle Lease

Electric vehicles (EVs) are now widely acknowledged as ideal means of transportation in future, in terms of energy conservation and environmental protection for urban governance. EV lease service is an effective measure to promote the use of EVs and has gained the support of many countries. In this article, a comprehensive pricing scheme is developed to optimize the annual operations profit for EV lease service based on mileage-based pricing (MBP), where the profit is defined as the revenue subtracted by the maintenance cost. Different from the traditional MBP for vehicle lease service, our model characterizes how the grade level of EVs affects the maintenance cost after each failure. Moreover, the lease service is modeled as a queuing system where each consumer has the probability choosing the MBP by comparing the service value and his expense. An enumerative algorithm is developed to find the optimal pricing as well as analyze the influence of parameters on the optimal profit. The algorithm is implemented in the pricing of an EV lease company in China. The results show that the optimal pricing will increase with service rate, consumer arrival rate, and the service value from lessor, but decrease with waiting cost of consumers. Differential pricing strategies are also proposed to resolve the conflict goals of lessors and consumers, which can further boost lessors’ profit and raise consumers’ satisfaction level. The results show that MBP with differential pricing strategies will increase profit between 2.3% and 69.8%, comparing with cases without differential pricing strategies.

ВОЗМОЖНОСТИ ЛИЗИНГА С УЧЕТОМ ЕГО ИННОВАЦИОННОГО ПОТЕНЦИАЛА

The article reveals the need to use the potential of the leasing services market, taking into account marketing tools. In addition, it reflects the unique aspects of leasing services that contribute to the solution of innovative leasing issues

Специфіка контролю на ринку фінансових послуг залежно від виду небанківських фінансових установ: досвід Європейського Союзу

Важливість державного регулювання ринку небанківських фінансових послуг пов'язана насамперед із необхідністю забезпечення єдності ринку, відкритості такого ринку, нагляду за функціонуванням небанківських фінансових установ і захисту прав споживачів небанківських послуг. У зв'язку з цим було здійснено реформування системи органів державного регулювання на ринку фінансових послуг. Повноваження щодо здійснення контролю на рику будуть розподілені між двома органами - Національним банком України та Національною комісією з цінних паперів та фондового ринку України, а такий орган, як Національна комісія, що здійснює державне регулювання у сфері ринків фінансових послуг України, буде ліквідовано. Національний банк України буде регулювати та контролювати діяльність банків, страхових компаній, лізингових компаній і суб'єктів господарювання, які за своїм правовим статусом не є фінансовими установами, але мають право надавати послуги фінансового лізингу, факторингових компаній, кредитних спілок, бюро кредитних історій, ломбардів, інших фінансових установ. У сферу відповідальності Національної комісії з цінних паперів і фондового ринку входитиме регулювання недержавних пенсійних фондів і фондів фінансування будівництва, фондів операцій із нерухомістю. Проблема створення принципово нової моделі нагляду та контролю за діяльністю фінансових установ на ринках фінансових послуг в Україні обговорюється протягом тривалого часу. І та модель, яка є зараз потребує певних коректувань. Але жодна модель не буде ефективною, якщо її не адаптувати до реалій країни. Тому постає питання про потрібність нової моделі регулювання, яка поєднує всі контролюючі функції в єдиному наглядовому органі - Національному банку України з частковим застосуванням поділу повноважень із новоствореним органом щодо пруденційного нагляду.

LEASING SERVICES IN FOREIGN COUNTRIES: EXPERIENCE FOR UKRAINE

Introduction. Lack of direct investment has recently forced entrepreneurs to resort the other forms of investment, which makes it relevant to study one of these forms – leasing. The rapid development of leasing activities in foreign countries is due to the fact that it is an advanced method of logistical support of business activity. Due to its advantages, leasing gives wide access to advanced technologies and technologies to business entities. Influencing the macroeconomic dynamics in the country, it activates the process of investment and renewal of fixed assets, creates new jobs, promotes the development of the national economy. The purpose is to study the trends of leasing development in the world and to offer the basic directions of introduction of foreign experience in domestic practice. Methods. The historical, analytical, empirical, inductive-deductive, comparative research methods to implement the principle of objectivity of scientific presentation have been used. Results. The article examines foreign experience and legal support for the development of leasing services. Revealed, globalization, specialization, consolidation, the formation of strategic alliances are the modern tendencies of dynamic development of the world market of leasing services. Conclusions. Suggestions have been made on the need to introduce the foreign experience of leasing development in Ukraine through the improvement of the legislative base, its harmonization with international norms, the creation of infrastructure of the leasing services market, the development of the guarantees system and insurance. Leasing items, that increase banks’ interest through the system of long-term loans, are substantiated.

Xarici ölkələrdə lizinq xidmətləri bazarının analizi

The article shows the volume of the leasing market in global regions at the end of 2017, the share of each region in the global leasing market and the dynamics of change compared with the previous year. Condition and structure of the leasing services market in Germany was analyzed. The components of the leasing services market are shown, which allows you to see which segment constitutes the main part of the leasing services market, and to a certain extent see which segments of the economy of country are priority for development. Also shown the level of penetration of leasing services, on the basis of the indicator of new leasing volume to GDP, which allows to assess the degree of development of the leasing services market in the country.

Application of Bootstrap-DEA With Fuzzy Computing in Performance Evaluation of Forklift Leasing Supplier

The study uses data envelopment analysis (DEA) combined with fuzzy computing to construct an improved evaluation model of service providers. From the perspective of a forklift company's scale and fleet level, the performance appraisal system of forklift leasing service providers is established, where the two fuzzy variables, namely team level, and service support, are embodied and calculated to be more specific. Bootstrap-DEA method is used to analyze the performance of the service provider in combination with qualitative and quantitative analysis, improving the consistency of the estimator of the basic DEA method. This research proposed an effective performance evaluation system for the assessment of forklift rental service providers. The effectiveness of this evaluation based on bootstrap-DEA with fuzzy computing can help enhance the management of logistic companies.

The Online Platform Economy in 27 Metro Areas: The Experience of Drivers and Lessors

A significant and growing fraction of families generate income through the Online Platform Economy. In previous JPMorgan Chase Institute research we leveraged administrative banking records to track supply-side participation and revenues in the Online Platform Economy, and observed strong secular trends in the transportation and leasing sectors between 2013 and 2018. In this follow-up research, we use geographic and temporal variation to explore these dynamics in more detail, in order to get a better understanding of the viability of the transportation and leasing sectors of the Online Platform Economy as a potential source of income for participant families. We explore variation in characteristics of the Online Platform Economy over five years across 27 metropolitan areas. Our findings are fivefold. First, there is significant variation across metropolitan areas in terms of participation rates, average monthly revenues, and levels of engagement in the leasing and transportation sectors of the Online Platform Economy. Participation and revenues are positively correlated but there are telling exceptions to that pattern. Second, metropolitan areas with larger incumbent industries as the Online Platform Economy emerged ended up with higher participation and higher average revenues in the corresponding platform sectors. Third, in almost every metro area, average monthly revenue declined for drivers and rose for lessors between 2013 and 2018, fully accounting for the secular trends in driver and lessor revenues, even as participation shares shifted across metro areas. Fourth, in both sectors but especially in transportation, participation tends to increase the most in the months and places where average revenues are increasing the most. Fifth, at least 45 percent–and likely more–of the decline in average monthly driver revenues was accounted for by drivers participating more occasionally within the month. In the leasing sector, more frequent participation accounted for more than half of the rise in revenues. Taken together, our results suggest that there is still room for supply-side growth in both the transportation and leasing sectors of the Online Platform Economy. In metro areas with large potential markets for transportation and leasing services, these sectors of the Online Platform Economy are robust alternatives for families looking to generate income, though the opportunities they present are almost certainly changing as the Online Platform Economy matures.

Vehicles leasing operations in Lagos state, Nigeria

Abstract Vehicle is an important element of transport; and its financing especially in road transport comes in 3 ways; outright purchase, hire purchase and lease. Of all these three methods of road transport financing, leasing has attracted little attention in Nigeria transport research. This study was carried out to examine the development, types and form, operating characteristics and problems of vehicle lease in Lagos State, Nigeria. Aggregate number of vehicle leasing companies in Nigeria from inception to 2018 was obtained from corporate affairs commission (CAC). Four prominent vehicle leasing companies: Cashlink Leasing Plc (CLP), NIKKY Taurus Ltd (NTL), C & I Leasing (CIL) and SAMTL Leasing Ltd (SLL) were purposively selected for the operating characteristics and challenges of the leasing companies. 298 structured questionnaires were administered to the staffs of the selected companies seeking the types and forms of lease and challenges encountered in the course of operation using stratified and simple random samplings techniques. Vehicle leasing started in Nigeria from 1986 with the likes of pine hill leasing, Cashlink leasing, VT leasing in Lagos. Within 1986 and 2018, it has spread to 23 different urban cities and the number has increased to 297 companies in 2018. Operating and finance leases exist in the industry with majority of 91.6% of the companies practice operating lease. The staff strength and fleet size level of the leasing companies varies overtime but positively significant to their operations. However, poor pricing of lease service, inadequate finance of vehicle, default in payment of rental charges and high cost of maintenance minimize leasing service efficiency and effectiveness. It is recommended that government should provide subvention for vehicles acquisition, face-off of racketing vehicles from cites and legislate policy to regulate operational activities (entry and exit) of the companies.

Measuring life cycle costs for complex B2B products

PurposeThe purpose of this paper is to develop a new interdisciplinary methodology to estimate the life cycle cost (LCC) of complex business-to-business products in order to price different types of maintenance contracts and show the applicability of the method in a case study. LCC comprise of initial capital costs as well of operation costs including probabilistic costs (such as the costs of repairs and spare parts), which are directly linked to the maintenance characteristics of the product.Design/methodology/approachThe paper proposes an integrated and practical methodology that applies different approaches from different disciplines. Therefore, exponential distributions for failure rates in subsystems, World Bank logistics factors for logistics costs of spare part handling, as well implied credit default probabilities for the counterpart risk in full service leasing contracts are applied. In order to validate the applicability of the proposed methodology to practical problems, the tool is applied in three case studies.FindingsThe results of the case studies show that this methodology can be applied to analyze LCC structures of engines operating in various regions with regard to different types of engine maintenance contracts. The results also highlight the interplay of technical as well as financial risks.Originality/valueBecause the literature in maintenance engineering so far either proposes general frameworks to calculate LCC or concentrates on specific aspects of LCC, the paper contributes to the literature in presenting a new interdisciplinary methodology to estimate the LCC.

Infrastructure Leasing & Financial Services Limited (il&fs) - The Crisis and Challenges Ahead

Infrastructure Leasing & Financial Services Limited (il&fs) - The Crisis and Challenges Ahead

The essence of leasing, rent : opportunities and advantages.

The article describes the methods of attracting major production assets during construction on the terms of lease or rent. The author define their legal and economic content, the main features, the essence of relations between the parties to the contract and the advantages of each methods. The development of leasing and rent services in the Ukrainian market is explored.

РИНОК ЛІЗИНГОВИХ ПОСЛУГ В УКРАЇНІ: СТАН І ТЕНДЕНЦІЇ

The status, dynamic, structure of sources of financing of leasing operations and tendencies of the development of the leasing services market in Ukraine in 2014-2018 have been considered. Today, financial leasing services are predominantly provided by financial companies, unlike in 2014, its share in the leasing market is 77.03%. The dynamics of the value and quantity of financial leasing agreements concluded by legal entities and financial companies have been considered. During the period under review, the largest value and number of financial leasing contracts were concluded by the legal entities and their value has increased in three times. The structure of the cost of financial leasing agreements by industry has been analyzed. The transport, agriculture, construction and services sectors are found to be the largest users of financial leasing services. The distribution of the value of the financial leasing contracts by its terms has been characterized and the agreements with the term of validity from 2 to 5 years are established. The structure of sources of financing of leasing operations has been investigated. It is established that their structure is dominated by equity of companies. The perspective directions of use of leasing in Ukraine have been considered. Industries such as healthcare, real estate, tourism and IT have been found to be the most promising for the leasing market. The problems that hinder the effective functioning of the leasing market in Ukraine and hinder its further development have been identified. The measures that should be taken to overcome existing problems and ensure the further development of leasing activities in Ukraine have been suggested.

基于投入产出分析的四川省租赁与商务服务业发展水平研究

基于投入产出分析的四川省租赁与商务服务业发展水平研究

Infrastructure Leasing and Financial Services (IL & FS) Revival Case

Infrastructure Leasing and Financial Services (IL & FS) Revival Case

Лізингове кредитування як інструмент капіталізації аграрного сектора України

The modern state of leasing lending of domestic agrarian enterprises is analyzed. It is proved that one of the most common methods of financing the technical re-equipment of production and providing long-term financial resources of business entities in developed countries is the use of leasing operations. Leasing lending to agrarian enterprises can be an alternative to bank lending, since it can significantly reduce start-up investment, and thus opens up wide opportunities for small and medium-sized businesses. It has been established that over the past years amount of leasing usage in the agrarian sector has tended to decline, which was mainly due to economic and political instability in the country. At the same time, the segment of agriculture, both in the branches of the economy, and by the types of leasing objects, occupies the second place after motor transport every year. Despite certain achievements of the state leasing company PJSC NJSC «Ukragroleasing», its monopoly position in the market of leasing services does not allow the development to private leasing companies distorts the leasing schemes and discredits the essence of leasing. The state support of agricultural producers should be based on the development of a more perfect mechanism of budget funds distribution, and full development of leasing in the agrarian sector should operate on the basis of market competition with the participation of both state and commercial leasing companies. The directions of improvement of leasing lending of agrarian enterprises to increase the capitalization level of the agrarian sector are offered. Significant potential for the development of leasing lending in Ukraine may be the improvement of the legal framework for leasing, the creation of a competitive environment in the leasing market, the use of vendor financing, the introduction of tax and investment incentives, availability of access to long-term financing through both domestic and foreign capital etc.&nbsp

Prospects of domestic leasing services market development in the context of transformation of financial relationships in Ukraine

The article is devoted to the analysis of the development of the domestic market of leasing services and the determination of the factors affecting it. The modern tendencies of the interaction of the subjects of the financial services market in Ukraine have been identified and the impact of the transformation of financial relations on the volume of leasing operations has been determined. It has been revealed that in today's realities for the purpose of improving the efficiency of business entities it is necessary to use both traditional and non-traditional methods of updating the material and technical base and fixed assets of enterprises. It is determined that it is leasing that acts as such lease relations, which allows to increase the efficiency of the use of fixed assets by combining all elements of credit, investment, and foreign trade operations. The main indicators of the distribution of the value of valid financial leasing agreements by the types of economic activity during 2010-2018 are formalized. The branches with the most attractive forecast of leasing services development in Ukraine are distinguished. The risks inherent in the leasing services market in Ukraine are investigated and the prospects for its development are identified in case of minimization of these risks.

Financial leasing as financial and credit support for investment activities of enterprises

The purpose of the article is to provide scientific rationale of the place and role of financial leasing in financial and credit support for investment activities of enterprises. The subject matter of the research includes various aspects of the current state of financial leasing and ways of its advancement in Ukraine. The article provides an analysis of investment activities based on the volume of investments in Ukraine and determines the role of financial leasing as a funding for investment resources of enterprises. The paper also examines the legal and regulatory framework for financial leasing operations and highlights different interpretations of this form of financing as well as its formal indicators. An analysis of statistical data on the financial and credit market provides important insights into trends of financial leasing contracts and the volume of loans issued to corporate borrowers, and thus makes it possible to conclude that there is a lack of leasing operations in business activities of entities. The point is mainly supported by the fact that financial leasing contracts which have been made lately are not widespread enough after the crisis in 2014. The dynamics of changes in the volume of leasing contracts by dates of signing is considered, and it is found that there is a tendency to shortening the duration of financial leasing services. An industry factor of providing financial leasing services is taken into consideration and the main industries where these services are widespread are described. The existing approaches to evaluating the effectiveness of leasing contracts are systematized. The key challenges that hinder the growth of leasing in Ukraine are identified.The research methods used in the article include: analysis, synthesis and abstraction (for forming the rationale and developing the terminological and conceptual framework of the study); comparison, systematization and logical generalization (for examining the concept of financial leasing, its legal regulation and specific features of using in Ukraine); statistical, structural and comparative analysis (for exploring ways of advancement of financial leasing in Ukraine).financialleasing;bankloan;financialandcreditsupport;investmentactivity; enterprises.

Smart Process Optimization and Adaptive Execution with Semantic Services in Cloud Manufacturing †

A new requirement for the manufacturing companies in Industry 4.0 is to be flexible with respect to changes in demands, requiring them to react rapidly and efficiently on the production capacities. Together with the trend to use Service-Oriented Architectures (SOA), this requirement induces a need for agile collaboration among supply chain partners, but also between different divisions or branches of the same company. In order to address this collaboration challenge, we propose a novel pragmatic approach for the process analysis, implementation and execution. This is achieved through sets of semantic annotations of business process models encoded into BPMN 2.0 extensions. Building blocks for such manufacturing processes are the individual available services, which are also semantically annotated according to the Everything-as-a-Service (XaaS) principles and stored into a common marketplace. The optimization of such manufacturing processes combines pattern-based semantic composition of services with their non-functional aspects. This is achieved by means of Quality-of-Service (QoS)-based Constraint Optimization Problem (COP) solving, resulting in an automatic implementation of service-based manufacturing processes. The produced solution is mapped back to the BPMN 2.0 standard formalism by means of the introduced extension elements, fully detailing the enactable optimal process service plan produced. This approach allows enacting a process instance, using just-in-time service leasing, allocation of resources and dynamic replanning in the case of failures. This proposition provides the best compromise between external visibility, control and flexibility. In this way, it provides an optimal approach for business process models’ implementation, with a full service-oriented taste, by implementing user-defined QoS metrics, just-in-time execution and basic dynamic repairing capabilities. This paper presents the described approach and the technical architecture and depicts one initial industrial application in the manufacturing domain of aluminum forging for bicycle hull body forming, where the advantages stemming from the main capabilities of this approach are sketched.

Investment support for the agricultural sector: creating opportunities in Ukraine

The article considers the challenges of investment support for Ukraine’s agrarian sector. In order to provide investment support for business entities by means of investment management and creating investment resources, a conceptual scheme is developed and presented. It is shown that identifying priority investment channels and implementing investment projects are based on the investment model, and therefore require measures for its further promotion. Particular attention is paid to determining priorities of financial support for the agrarian production. The paper addresses the issue of implementing regional investment projects and increasing local investment opportunities. It is pointed out that the framework of investment support for the agrarian sector is shaped by economic, social, financial, and legal factors through the following components: legal and regulatory setting; human resources capacity; organizational, innovative, informational, financial, technical and technological, marketing support. Their improvement will stimulate the competitive growth of the agrarian sector. The core activities that should be undertaken in order to effectively implement investment projects in the agrarian sector of Ukraine include: completing the legal framework for attracting investments and protecting the rights of investors and creditors; establishing investment support policies; building the innovative infrastructure; developing the leasing services market; enhancing information support for attracting investments; creating conditions for increasing intellectual capacity in the manufacturing sector.

Integrating intangible resources enables creating new types of forest services - developing forest leasing value network in Finland

Emergence of more urban forest owners who live far from their forests challenges not only policies but also businesses for how to engage owners to active forest management. This study explores the opportunities of how exchanging and integrating intangible resources in collaborator networks may enable designing new types of forest services. To that end, the study scrutinizes the value network of a potential forest leasing service for family forests. Service-dominant logic and the concept of value network framed the analysis, which is based on semi-structured interviews with 12 Finnish forerunners and experts in private forestry. The results highlight the mediating role of the integrator (tenant or consultant). The value network offers novel value propositions via exchanging intangible benefits, i.e. trust, expertise, easiness, and communication. Main actors and operations already exist in Finland: integrating intangible resources (=working in reciprocal business networks) in creating new kind of forest services may serve new forest owner types and their emerging needs better and more flexibly. Companies' capability to convert information and knowledge to exchangeable deliverables within the value network will determine their competitive advantage in future. The task for forest policy is to enable open forest and landowner data for the novel service concepts. Further research is suggested to introduce novel value cocreating business logic to forest services in general.