Real Property Research Articles

Evaluation of training models for intraventricular neuroendoscopy.

Structured surgical education has become increasingly important in recent years. Intraventricular neuroendoscopic procedures have been widely established. However, training surgical skills with these techniques is crucial for young residents due to the potential harm to adjacent tissue. Therefore, we evaluated two different training models.Participants in two different international workshops were trained on a prefixed cadaver model and on a living murine intraabdominal model. Crucial neuroendoscopic techniques such as membrane perforation and tissue biopsy were performed. A blinded questionnaire evaluated both models.Sixty-three participants were trained on the animal model. Forty of these were trained on the cadaver model. The training effect was evaluated almost equally, with 8.5/10 for the animal model and 8.9/10 for the cadaver model. The tissue properties were rated higher regarding realism in the animal model, whereas the anatomic realism was rated higher in the cadaver model.The animal model is a valid alternative to cadaver models for teaching endoscopic neurosurgical skills. This model benefits from the simulation of real surgical tissue properties, including bleeding. The low costs and availability of this technique make it more ubiquitous and can help train further generations of neurosurgeons.

Faktor yang Mempengaruhi Nilai Perusahaan pada Perusahaan Sektor Property & Real Estate yang Terdaftar di Bursa Efek

The purpose of this research is to test in reality whether profitability, leverage, and company size affect company value in real estate and property companies listed on the Indonesia Stock Exchange during the 2019-2023 period. This study uses secondary data, there are 10 companies that meet the research criteria many as 50 observation data. This study uses a quantitative method. The research variables used are profitability, leverage, and company size. This test uses multiple linear analysis and the eviews 13 software program. These results illustrate that profitability and leverage do not affect company value, while company size has a negative effect. according to the results of the regression test using (REM), the Determination Coefficient R² = 0.493716, indicating that 49.37% of company value is influenced by (ROAS), (DERA), and (UP), while the remaining 50.63% is explained by other factors.

ESTIMATION OF THE CLEANING TIME OF THE BOTTOM-HOLE ZONE OF WELLS IN CONDITIONS OF UNCERTAINTY

The aim of the work is to analyze changes in the maximum optimal flow rates of wells operating various groups of productive formations of the Volga-Ural oil and gas province under conditions of uncertainty of geological and field data. The relevance of the work is due to the deterioration of the structure of residual oil reserves and the need for the most efficient extraction of liquid hydrocarbon resources, optimization of design methods for various treatments of the bottomhole formation zone. Using geological and statistical modeling systems, the timing of cleaning the bottomhole zones of wells from drilling products was determined at the time they reached their maximum optimal flow rate in conditions of deposits confined to various stratigraphic horizons, and appropriate models of changes in productivity coefficients were constructed. The factors influencing the recovery time of the real properties of the reservoir at the point of opening it by the well, which, among other things, determines the profitability of the process of selecting residual oil reserves, have been established. Among them, the most relevant and necessary for the implementation of an integrated approach to computer support procedures for the development of oil fields are the productivity of wells, fracturing of formations, their proximity to a particular tectonic-stratigraphic complex, geological, physical and physico-chemical properties of formations and their saturating fluids. For the deposits of the Famensk tier of deposits of the Volga-Ural oil and gas province, a multiple decrease in the time of removal of reaction products after hydrochloric acid exposure at objects with low fracturing has been established. At the same time, additional processing of the bottomhole formation zone within areas with high drilling density does not affect the total cleaning time of the bottomhole zone of wells. Stimulation of the removal of drilling mud filtrate and additional products of formation reactions by injection of hydrochloric acid compositions under certain conditions can lead to a decrease in the actual productivity of wells due to the introduction of less developed and dead-end cracks into the drainage process. The existence of the specifics of the procedure for cleaning the bottomhole formation zone depending on the geological and physical parameters of productive formations is substantiated and various patterns of changes in the productivity coefficient depending on the time of wells reaching the maximum optimal flow rate are revealed. The results obtained make it possible to make informed technological decisions to improve the efficiency of oil production, including in conditions of uncertainty, which may be caused by the lack of the necessary volume of hydrodynamic studies of wells.

Aggregated Housing Price Predictions with No Information About Structural Attributes—Hedonic Models: Linear Regression and a Machine Learning Approach

A number of studies have shown that, in hedonic models, the structural attributes of real property have a greater influence on price than external attributes related to location and the immediate neighbourhood. This makes it necessary to include detailed information about structural attributes when predicting prices using regression models and machine learning algorithms and makes it difficult to study the influence of external attributes. In our study of asking prices on the primary residential market in Warsaw (Poland), we used a methodology we developed to determine price indices aggregated to micro-markets, which we further treated as a dependent variable. The analysed database consisted of 10,135 records relating to 2444 residential developments existing as offers on the market at the end of each quarter in the period 2017–2021. Based on these data, aggregated price level indices were determined for 503 micro-markets in which primary market offers were documented. Using the analysed example, we showed that it is possible to predict the value of aggregated price indices based only on aggregated external attributes—location and neighbourhood. Depending on the model, we obtained an R2 value of 75.8% to 82.9% for the prediction in the set of control observations excluded from building the model.

PENGARUH GOOD CORPORATE GOVERNANCE, KONSERVATISME AKUNTANSI DAN UKURAN PERUSAHAAN TERHADAP MANAJEMEN LABA (Studi Empiris Pada Perusahaan Sektor Properti Yang Terdaftar Di Bursa Efek Indonesia Tahun 2018-2022)

This study aims to analyze the effect of Good Corporate Governance, accounting conservatism, and company size on earnings management (empirical study of property sector companies listed on the Indonesia Stock Exchange 2018-2022). This research method is quantitative. The object of this research is the annual report and audit report of Real Estate and property companies listed on the Indonesia Stock Exchange (IDX) for 2018-2022. The sampling method of this research is purposive sampling, with techniques based on judgment sampling considerations. The data used in this study are secondary. The data collection method is the documentation method. The analytical tool used in this research is multiple regression analysis with the help of the IBM Statistical Package for Sciences (SPSS) program version 26. The result of this study is that Good Corporate Governance has no significant effect on earnings management. Accounting conservatism hurts earnings management. Company size does not affect earnings management.

Pengaruh Likuiditas, Ukuran Perusahaan, Leverage dan Jaminan Terhadap Peringkat Obligasi pada Sektor Keuangan

This study aims to investigate the impact of Liquidity, Company Size, Leverage, and Collateral on Bond Ratings in the Financial Sector. The study centers on Real Estate and Property companies that are publicly traded on the Indonesia Stock Exchange (IDX) from 2017 to 2021, including a total of 28 enterprises. The sampling method used is nonprobability purposive sampling. The major data source for this study is the secondary data obtained from the financial reports of these firms, as published by the IDX. Data collection entails the systematic process of acquiring, recording, and reviewing secondary data using the documentation technique. Analytical approaches encompass descriptive analysis, classical assumption tests, tests for normalcy, multicollinearity, heteroskedasticity, and Autocorrelation. Additionally, hypothesis testing is conducted by t-tests, F-tests, and determination coefficient analysis. The research findings suggest that Liquidity, Company Size, Leverage, and Collateral exert a substantial impact on Bond Ratings within the Financial Sector.

Pressure-equilibrium semi-implicit solver for real fluids

In this study, a semi-implicit pressure-based scheme which can suppress the spurious pressure oscillations is developed for real fluid flows. Conservation properties relevant to the proposed scheme are investigated through one-dimensional numerical simulations of the nitrogen interface advection. The efficiency and validity of this scheme are carefully examined with two- and three-dimensional numerical simulations of cryogenic nitrogen jets. From the one-dimensional simulation results, the conservation properties are well conserved as the past studies. The two-dimensional simulation results show that the developed scheme can reduce the computational cost by more than 92% (13–14 times faster) compared with the conventional density-based explicit solver employing the double flux model. It is also found that, through the three-dimensional simulation results, the developed scheme can predict the structure of the nitrogen jet under both transcritical and supercritical conditions, while taking into account the effects of real fluid properties on the mixing and spatiotemporal evolution of this jet, with excellent accuracy.

Discrete element modelling and mechanical properties and cutting experiments of Caragana korshinskii Kom. stems.

The forage crop Caragana korshinskii Kom. is of high quality, and the biomechanical properties of its plant system are of great significance for the development of harvesting equipment and the comprehensive utilisation of crop resources. However, the extant research on the biomechanical properties of Caragana korshinskii Kom. is inadequate to enhance and refine the theoretical techniques for mechanised harvesting. In this study, we established a discrete element model of CKS based on the Hertz-Mindlin bonding contact model. By combining physical experiments and numerical simulations, we calibrated and validated the intrinsic and contact parameters. The Plackett-Burman design test was employed to identify the significant factors influencing bending force, and the optimal parameter combination for these factors was determined through response surface analysis. When the shear stiffness per unit area was 3.56×109 Pa, the bonded disk scale was 0.93 mm, the normal stiffness per unit area was 9.68×109 Pa, the normal strength was 5.62×107 Pa, the shear strength was 4.27×107 Pa, the discrete element numerical simulation results for three-point bending, radial compression, axial tension, and shear fracture exhibited a maximum failure force error of 3.32%, 4.37%, 4.87% and 3.74% in comparison to the physical experiments. In the cutting experiments, a smaller radial angle between the tool edge and the stem resulted in less damage to the cutting section, which was beneficial for the smoothness of the stubble after harvesting and the subsequent growth of the stem. The discrepancy in cutting force between the physical and numerical simulations was 3.89%, and the F-x (force versus displacement) trend was consistent. The multi-angle experimental validation demonstrated that the discrete element model of CKS is an accurate representation of the real biomechanical properties of CKS. The findings offer valuable insights into the mechanisms underlying crop-machine interactions.

APPLICATION AND PERFORMANCE OF PENSION FUND IN REAL ESTATE INVESTMENT FINANCING IN NIGERIA

This study aimed at determining the effects of the application of real estate investment instruments on the performance of pension fund in real estate investment financing in Nigeria with the view of making recommendations for improved investing. The two real estate investment instruments studied were Real Estate Investment Trusts (REITs) and investing in Direct Real Estate Property (DREP). Three objectives were set to achieve this aim. First, to determine the application of real estate instruments in the investing of pension fund in Nigeria. Second, to determine the performance of pension fund in real estate investment financing in Nigeria. Third, to establish the relationship between application of real estate investment instruments and performance of pension fund in real estate financing in Nigeria. Secondary data from National Pension Commission (PenCom) was used to do this research and the study period was 2012 to 2021. Data were analysed using percentages and Multiple Regression Analysis. Findings showed that, the application of the investment instruments is poor with REIT and DREP asset classes having respective averages of 0.064% and 0.009%. Findings showed that, the performance of pension fund in real estate financing is poor with the average of 13.15%. The regression result showed that, the application of REIT has negative relationship with performance while that of DREP has positive relationship with correlation coefficients of –0.543 and 0.794 respectively. Based on findings it is concluded that, REIT asset class impacted negatively on performance while DREP asset class impacted positively. For there to be improved participation of pension fund in real estate financing it is recommended that, there must be increased investments in REIT and that, the range of investments in DREP should be maintained or most pleasantly increased. For there to be improved investing, it is further recommended that more real estate investment instruments be introduced.

Towards a Legal Regulation of Insurance Against Natural Disasters in Jordanian Legislation

Objectives: The current study aims at clarifying the legal solutions that can overcome the serious damage caused by natural disasters, within the framework of insurance contracts, and to clarify the mechanisms that enable insurance companies to cover natural disasters' risks. Theoretical Framework: In the first section, the concept of the insurance contract against natural disasters is explained, in the second section, the effects of the insurance contract against natural disasters are addressed while the third section, the confronting the effects of natural disasters' mechanisms are discussed. Methodology: This analytical comparative study addresses insurance against natural disasters in Jordanian legislation by reviewing and comparing the related legal texts in the compared legislations. Results: The study revealed a group of results, the most important among which include that introducing special system for insurance against natural disasters in Jordanian legislation requires that its content be based on the idea of social solidarity and also, the reinsurance process is also one of the means that can contribute to reducing the serious effects resulting from the occurrence of natural disasters. Recommendations: In light of the results revealed, the study concludes with a group of recommendations among which the necessity of formulating a special system for compulsory insurance of real estate properties built on the land of the Hashemite Kingdom of Jordan against the risks of natural disasters, in addition to the necessity of this system adopting a mechanism based on distributing the burden of compensating for damages resulting from the occurrence of these disasters on insurance companies on the one hand and reinsurance companies on the other hand, with the necessity of providing the necessary support from the state in this area.

Real Estate Market Transformations Amidst Post-Pandemic Sino-U.S. Economic Trends

In the post-pandemic era, the global economic landscape has undergone profound changes. As the world’s largest economies, the economic policies and market performances of the United States and China have exerted far-reaching impacts on the global real estate market. This paper delves into the current state and future trajectory of the real estate market under Sino-U.S. economic trends, focusing on commercial real estate, residential investment, property taxes, financing, and laws and regulations. It also incorporates keywords such as easements, deed transfers, premium discount rates, home mortgages, police powers, liens, common law, fixtures, joint leases, marital property, private property, and trespassing to provide a comprehensive analysis.

Numerical Investigation of Two-Phase Shock Waves in CO2 Flows Using a Modified Hertz–Knudsen Model

Abstract Understanding the complex behavior of two-phase shocks in CO2 flows is essential for a variety of applications, including carbon capture and storage () and transcritical refrigeration cycles. This study presents a comprehensive numerical investigation of two-phase shock waves using the multispecies user-defined real gas model in Ansys Fluent. The simulations are performed for de-Laval nozzles, exploring the two-phase shock features for three-dimensional (3D), two-dimensional (2D), and two-dimensional axisymmetric geometries. The nonequilibrium condensation, subsequent evaporation, and denucleation occurring across the shock are modeled through a set of user-defined scalar transport equations implemented within Ansys Fluent. The two-phase computational fluid dynamics (CFD) simulations are carried out in proximity to the critical point where real gas effects are relevant. The CO2 real gas properties are computed using an in-house Python code and integrated into the solver via user-defined functions as external look-up tables. This study provides valuable insights into the physical processes underlying two-phase shocks in CO2 flows and their sensitivity to geometric variations and thermodynamic conditions. The findings contribute to the development and modification of predictive models and optimized designs for systems involving two-phase CO2 flows. The results highlight the influence of geometry configurations and thermodynamic conditions on shock location and intensity, providing comparisons for shock waves occurring in two-phase flows and supercritical single-phase flows.

Determination of the REV size for heterogeneous rocks with different grain sizes: Deep learning and numerical approaches

Accurate determination of the representative elementary volume (REV) size plays a pivotal role in analysing the mechanical properties and failure processes of heterogeneous rocks in complex engineering environments. In this study, a novel microstructure modelling strategy (NMMS) for determining the REV size is proposed by combining deep learning and an improved phase-field method (PFM). Micro- and macroscale experiments are systematically conducted to determine the real microstructural characteristics and mechanical properties of heterogeneous rocks with different grain sizes. On the basis of this experimental evidence, geometric models of different sizes were reconstructed through deep learning to avoid the limitations of human-based methods, and an improved PFM was used for numerical calculations. These models were then employed to perform numerical tests under uniaxial loading conditions, and the coefficient of variation was introduced to determine the REV size of heterogeneous rocks with different grain sizes. The research findings indicate that the final REV size is the maximum value of the REVs defined by the evaluation properties within an acceptable coefficient of variation. At a criterion of 5% for the coefficient of variation, the REV sizes are 60 mm×60 mm, 70 mm×70 mm, and 90 mm×90 mm for fine-medium-grained (FMG), medium-grained (MG), and coarse-grained (CG) rocks, respectively. Furthermore, the REV determined by the NMMS was applied to investigate the effects of microstructure on macromechanical properties and damage evolution under triaxial loading conditions. The numerical results show that the NMMS can accurately predict the macromechanical properties and microcracking patterns of heterogeneous rocks, especially the intracrystalline cracks in feldspar, the interfacial cracks in gravel, and the “voids” of cracks in biotite. This research can provide some basic references for the optimal choice of the REV size of heterogeneous rocks.

Theoretical aspects of structure, electronic, optical and elastic properties of Ca(1-x)CxSe mixed alloys in binary and ternary phases

The structural, optoelectronic, and elastic properties of Carbon doped Calcium Selenide binary and ternary semiconductor alloys with the general form of Ca(1-x)CxSe, 0 ≤ x ≤ 1 in B1 and B3 phases have been scrutinized adopting augmented plane wave plus local orbital methods within density functional theory applying different approximations like the Local density approximation (LDA), Wu-Cohen-Generalized Gradients Approximation (WC-GGA) and modified Becke-Johnson (mBJ). Structural properties summarize the crystal structure, relevant atomic positions, lattice constant, Bulk modulus B0, minimum energy E0, and minimum volume V0. Elastic constants confirm the structure stability of the B1 and B3 phases. The band gap was modified from a wider for appropriate optoelectronic devices application to narrow that enhanced the range of applicability of these binary and ternary semiconductor compounds for optoelectronic device applications. Whereas optical properties which include the study of zero frequency limit of static dielectric constant ε0(ω) with its real and imaginary parts, static refractive index n(0), optical reflectivity R(ω), optical absorption coefficient α(ω), optical conductivity σ(ω), and loss function L(ω) studied comprehensively to get real electrical and optical properties of these materials and give semiconductor market best alternative candidate which shows its effectiveness in the visible, ultraviolet and infrared region of the electromagnetic spectrum. Obtained results compared together and with the available experimental along with theoretical work on these binary and ternary Carbon-doped Alkaline earth Selenide.

Technology “like a fork”. How PropTech shapes real estate innovation

PurposePropTech has shown important implications for real estate; however, it remains a poorly understood phenomenon in both academia and practice. This paper aims to advance the understanding of PropTech by disentangling what the real estate sector needs from technology and, in parallel, observing closely the activities of PropTech businesses in two different countries.Design/methodology/approachThe paper adopts a mixed-method approach relying on qualitative data collected through interviews with PropTech players and real estate operators, and quantitative data collected through multiple sources on the Finnish and Italian PropTech ecosystems. The analysis is exploratory and descriptive.FindingsThis study underscores the potential benefits that digital technologies, introduced by PropTech, can add to the real estate sector: data integration; decisions informed from data; balance of new and old approaches to problem-solving; change in vision; adaptability of technologies and business models; and new professional profiles. These benefits are obtained when technology enables innovation from cross-pollination of different sectors. This becomes evident through the analysis of NACE activities, which demonstrates that innovation not only depends on interactions between property and technology, but the phenomenon covers a much broader spectrum of activities and industries.Originality/valueOur exploratory analysis brings up new evidence that not only the real estate sector and property sector are affected by PropTech but the phenomenon covers a much broader spectrum of activities and industries. This paper contributes to the debate on technology innovations and value chain in the real estate and construction sector, while adding a cross-country perspective.

How the marketing of real estate properties explains mortgage applicants by race and income

In this article, we study how the marketing of single-family homes explains the racial and income makeup of mortgage applicants in a neighborhood. We use a case study of the robust housing market of Charlotte, North Carolina, and annual, longitudinal real estate listing advertisements alongside mortgage lending data, to demonstrate how the share of properties advertised a certain way in a neighborhood in 1 year explains shares of mortgage applicants by race and income the following year. We classify property advertisement text using a semi-supervised learning algorithm into five categories following a housing investment and disinvestment to renewal continuum. We find stark racial disparities in mortgage applicants by housing type, even after controlling for income. We find that Black applicants nearly exclusively apply for mortgages in neighborhoods with a high share of properties advertised as disinvested with little profit-making promise. High-income White applicants rise as the share of advertised properties becomes more homogenous.

Evaluation of real estate investment performance of insurance companies by NHF Act in curbing housing deficit in Nigeria

PurposeThe purpose of this study is to evaluate the real estate investment performance portfolio decision-making of the insurance firms by the National Housing Fund (NHF) Act in reducing the housing deficit in Nigeria. The insurance companies' gross premium, real estate investment and return on investment trends for the period 2014–2019 were evaluated, to determine the extent of their investment in real estate in Nigeria, this ought to have reduced the shortfall in housing.Design/methodology/approachBoth primary and secondary sources were used. Cronbach’s alpha was used for testing the reliability. The Friedman mean rank with Chi-square was used for different types of real estate investment properties and for reasons for investing in real estate by insurance companies in Nigeria. The test for normality was conducted using the Shapiro–Wilk and Spearman correlation for the significance. The percentage and the data envelopment analysis frontier model were used for measuring performance and efficiency.FindingsThe results showed that the majority of real estate investments made by insurance companies were in commercial and land buying and reselling and that their performance was below average. However, their motivation for investing is not toward the NHF Act but rather for diversification and increasing their capital.Originality/valueTo the best of the authors’ knowledge, this is one of the first studies in Nigeria that looked at how well insurance firms have performed investing in real estate as required by the NHF Act. However, the new Act, the National Housing Fund (Establishment) Act of 2018 which was put on hold due to flaws, affected data availability beyond 2019.

Challenges of International Investment in Real Property Portfolio in Nigeria

A real estate portfolio enables investors to diversify their investments and mitigate risk, thereby achieving consistent income through rental yields, property value increases, and various investment returns. It presents opportunities for long-term wealth accumulation and financial stability. Moreso, a foreign investor who is looking to invest in Nigeria has these goals in mind, with an understanding that an effectively managed portfolio can improve cash flow and provide tax advantages. This paper investigates the challenges associated with international investment in Nigeria's real estate sector, which is important for economic advancement yet presents numerous challenges for foreign investors. The study introduces both global and local perspectives and outlines the nature of international real estate investments and their importance to Nigeria's economy. It identifies and analyses the primary challenges encountered by international investors, including economic factors such as inflation and currency fluctuations, legal and regulatory challenges like land tenure issues, and political instability characterised by policy changes and corruption. Additionally, the paper addresses cultural and social hurdles, such as language differences and local perceptions of foreign investment, along with infrastructural shortcomings, including inadequate urban planning and insufficient facilities. It was recommended that reforms should aim to stabilise the economy, enhance legal clarity, promote political stability, and improve infrastructure. The conclusion highlights the necessity for a comprehensive strategy to attract and retain international investors, detailing measures to alleviate challenges and create a favourable environment for real estate development in Nigeria.

Nadzór judykacyjny sądu nad elektroniczną licytacją nieruchomości

The article makes an attempt to describe the model of judicial supervision over electronic real property auctions. The analysis indicates that the model differs from a supervision model applied in the cases where real properties are sold in a traditional way. As the model has drawbacks, this article presents certain proposals of modifications. It calls for changes both in supervision over auctions, as well as supervision before auctions and supervision resulting from methods of appeals applied in the process. Keywords: electronic auction, supervision, district court, bailiff, real property

DOES A REDUCTION IN TAX RATES INFLUENCE TAX AGGRESSIVENESS? AN ANALYSIS WITH ADDITIONAL FACTORS

This study investigates the effect of reduction tax rates in Indonesia and other factors that may impact tax aggressiveness. This study employs multiple linear regression analysis, using E-Views 12 as analytical software. A sample of fourteen real estate and property companies listed on the Indonesia Stock Exchange (IDX) for 2017 to 2023 was identified through purposive sampling. This study relies on secondary data derived from the company's financial statements. The results showed that the reduction in tax rates and the presence of independent commissioners did not significantly affect tax aggressiveness. In contrast, institutional ownership and profitability factors positively correlate with tax aggressiveness, while leverage shows a negative correlation. It is expected that the results of this study will contribute to the development of taxation policies for companies in Indonesia, aiming to reduce aggressive taxation practices and assist companies in their tax-related decision-making framework.