Types Of Leases Research Articles

A system for achieving the strategic goals of the project of chartering the fleet of shipping companies in the post-war period

The beginning of the full-scale invasion of russia into Ukraine caused significant human, economic and political losses, as well as destruction of the shipping system of water transport. Nevertheless, in the future (in the post -war period) all losses received must be restored according to projects and programs in the post-war period. This paper examines the current scientific and applied problem of developing approaches to managing the success of fleet chartering projects based on proacti ve research of shipping companies. The authors have identified the main factors affecting fleet chartering processes: trends in the charter market; the volume of transport work in already developed markets, opportunities to enter new markets, the level of prices for ships, the state of the turbulent environment. The main strategic goals that determine the need to replenish the shipping company's fleet have been established. The main types of fleet replenishment projects corresponding to the following options for fleet replenishment have been identified: shipbuilding, ship acquisition, leasing (bareboat charter), short - and medium-term lease of ships (time charter). Classification of the main types of fleet replenishment projects, regarding their classification features, definition of products, specifics of life cycles, value and composition of stakeholders, which fully characterizes fleet replenishment as an object of project management. As a result of the time charter lease, the company is limited in its rights to the vessel and can only carry out commercial activities, and this type of lease allows solving short- and medium-term tasks related to market activity and the need to replenish the fleet. The concept and model of the proactive formation of fleet chartering project parameters in specific market conditions, taking into account their further development, which ensures the establishment of project product characteristics and the life cycle, taking into account the integral influence of the dynamics of the market conditions related to the project. For each selected type of fleet chartering project, the main classification features, specifics of life cycles, value and composition of participants are established. Thus, the formation of management models for the implementation of innovative projects, programs, in particular in Ukraine in its post-war conditions, in the paradigm of uncertainty of crises in the post-war period, remains relevant.

The Bottom-Line Choice: Lease vs. Buy – A Business Owner's Guide

This comprehensive guide navigates businesses through the intricate decision-making process of leasing versus buying, addressing the pivotal capital conundrum they face. The framework begins with a meticulous financial fitness check, evaluating cash flow, budget constraints, and long-term projections. Exploring various types of leases provides a nuanced understanding of leasing advantages, from flexibility to off-balance sheet financing. Conversely, ownership’s power is analysed, emphasizing control, stability, and long-term value creation. The guide integrates risk mitigation strategies for both options, emphasizing the importance of negotiating favourable terms and conducting due diligence. As businesses stand at the crossroads, this guide serves as a strategic compass, empowering informed decisions aligned with financial goals, operational needs, and sustained success in the dynamic business landscape.

Aircraft acquisition optimization under demand and cost fluctuations: Before and after leasing standard changes

Given the high-value characteristics of aircraft, fluctuations in air transport demand, and dynamic leasing and purchasing costs, airlines' decisions regarding aircraft acquisition are crucial to their costs and profits. Based on the International Financial Reporting Standard (IFRS) 16 Leases, which has been in effect since 2019, all leases with terms of more than 12 months are on a balance sheet of lessees. This change may impact airlines’ financial performance and aircraft leasing decisions. This paper focuses on optimizing aircraft acquisition before and after applying IFRS 16 under multiple fluctuating factors, including aircraft demand and acquisition costs, by formulating an integer programming model. The results indicate that airlines still have to acquire a few aircraft from a channel similar to operating leases, with short lease terms but high rents. Moreover, a lease type similar to a financial lease in the old standard is increasingly adopted after the enforcement of IFRS 16 in the numerical experiments. Furthermore, aircraft leases and purchases are required for fewer years under IFRS 16 than under IAS 17.

The role of car rental business in travel and tourism industry: A Case study of rent a car companies in Lefkada Island

The present research refers to the role of car rental in the travel industry with a case study on the island of Lefkada. The agencies in the car rental industry have received a great deal of attention in recent years, due to the fact that they have shown immense growth in and out of Greece. In Greece, the car rental industry is most often associated with tourism as it presents the largest turnover of tourists-customers.
 In the present paper, rent-a-car agencies in the island of Lefkada are canvassed in the literature and research field with the aim of drawing conclusions in relation to their basic features and the quantitative and quality depiction of their workforce. Regarding the research process, a quantitative and qualitative research was carried out. The main tool used in the quantitative research was the questionnaire which was distributed to agencies operating in the field of the car rental industry in the island of Lefkada. The tool of the qualitative research was the interview, which took place in three agencies through face-to-face meetings with their executives. The results indicated that the course of the Greek car rental market, in recent years, is on the rise, which creates a positive climate for the development and progress of the industry. Finally, certain suggestions for future research based on the conclusions are the study on European Funds and NSRF programs for the purchase of electric cars and the simplification of procedures, i.e. the automatization of most actions such as online check.
 JEL Classifications: L83, L91, M21
 Key words: short-term vehicle leases, vehicle rental, types of vehicle leases, management of car rental agencies.

Choosing by Advantages Application Areas in Facilities Management: A Literature Review

Choosing by Advantages (CBA) is a new generation decision-making method utilized mainly in lean construction, sustainable design, methods and materials selections for the last two decades. The value-based approach of CBA considers cost as a constraint and uses the advantages of the decision alternatives for preference, choice, and ranking. This approach can benefit facilities management (FM) processes that are challenged with cost and budget dominance in decision-making. This study conducted a comprehensive literature review about CBA revealing the benefits of and areas for improvement in the method while also investigating the possible application areas of CBA in FM practices. The review covered 67 relevant studies in the CBA topic area over the last two decades and identified the research clusters of these articles, focusing on studies that utilized CBA beyond the scope of Lean Construction. Moreover, the review revealed areas for improvement of CBA, such as the lack of structure in the Importance of Advance (IoA) scale, minimizing bias in stakeholder consensus, and considering weights and/or prioritization in decision factors. In addition to increasing awareness of the CBA method, this study identified areas where CBA has the potential to benefit; building maintenance decision-making, capital project planning, prioritization, procurement, buy vs. lease analysis, lease type and site selection, and resource and personnel allocation in FM practices.

Research on the Impact of the Rent in Shanghai Based on Multiple Linear Regression Model

In today's era, renting has become one of the most important ways of living for young people. Therefore, finding the main influencing factors of rent has important guiding value for both tenants and the government. By establishing a multiple linear regression model, this paper analyzes about 2,900 rental data collected from Shanghai, and obtains the relationship between Shanghai housing rent and some main influencing factors. Some variables are processed to be incorporated into a multiple linear regression model. In the process of establishing the model, the variables that have a significant impact on rent are screened out by significance testing. The model shows that the zone where the house is located and the type of lease have a greater impact on rent, while other factors such as the size of the house have less impact on rent. These results can help tenants make better choice about which to rent and help the government to regulate rental prices.

Contingent convertible lease modeling and credit risk management

The main objective of this study is to determine a lease agreement to finance an investment project and a solution for managing credit risk. This study investigates three types of contingent leases to reduce the costs associated with bankruptcy and compensate for the lessor's position. A leasing defaultable contract allows the lessor to obtain the rent that will be recovered if the lessee defaults. A leasing convertible contract can be automatically converted into shares when certain default conditions related to the cash flows generated by the firm are met. These conditions are triggered by the ratio of the firm's value and leasing payments. A Defaultable-Convertible-Leasing contract with a payback option grants the lessor the right but not the obligation to convert the remaining lease payments into stocks or to break up the contract and pick up the rented equipment when the firm reaches the default threshold. These contracts are motivated by contributing to the range of risk-management strategies by adding more flexibility to standard leasing contracts and contingent rents. Closed-form securities pricing solutions are set forward in a dynamic model for firms with existing assets and a growth option financed by shares and a contingent lease. Risk-neutral pricing theory and the backward induction method are used to determine the pricing of corporate securities. Numerical analysis shows that leasing convertible contracts and defaultable-convertible contracts with payback options impact the service value of the leased asset, maturity, and inefficiencies resulting from insolvency and asset substitution. An optimal conversion rate reduces inefficiencies, thus making the leasing convertible contract and defaultable-convertible-leasing contract with payback option a reliable solution to ensure business continuity and loss coverage of the leasers upon default.

Accounting and analysis of the effectiveness of the lease

The issues arising in the economy of an economic entity under the conditions of sanctions imposed by foreign states following the coronavirus epidemic are considered. The possibilities of maintaining business in the conditions of severing ties with suppliers of components, reducing the usual sources of financing of planned activities are analyzed. Such a way of overcoming financial difficulties at the first steps of the activity and during its serious reorganization as the lease of fixed assets is characterized. The issues of classification of lease types, the order of its accounting and presentation in accounting (financial) statements in connection with the release of new accounting standards are investigated. The introduced standards are aimed at a clearer approach to the assessment and presentation of lease information from the participating parties, which creates an opportunity for reporting users to more accurately assess the financial condition of business partners and prospects for its strengthening.

Civil legal aspect of distinction of loan agreement from other types of agreements (loan, gift, rental of vehicle, housing, rental agreement, commercial concession)

Contracts aimed at the transfer of property for use are diverse. Each of the incoming contract types has its own specifics due to certain systemic features (free use - a sign of gratuitousness, renting housing - subject and subjective features of legal relations, commercial concession – a sign of the subject). Accordingly, the internal classification of contracts aimed at the transfer of civil rights to temporary use can be made consistently on several grounds. All contracts on the basis of subject can be divided into contracts aimed at the temporary use of property (rent (lease) of a vehicle, housing, rental, loan), and contracts aimed at the temporary use of objects of exclusive rights (commercial concession). Within the framework of agreements aimed at the transfer of property for use, on the basis of payment are paid (rent (lease), rental, rental of housing, vehicle) and free (loan agreement).
 The author concludes that gratuitousness is an essential feature for a loan agreement, as well as for a gift agreement. It is determined that the sign of gratuitousness may follow from the essence of the relationship between the parties. In particular, it is expressed in certain actions, especially if previously such actions were free of charge. Speaking of gratuitousness, however, it cannot be concluded that this agreement has no property interest for the lender. Sometimes this is true, and sometimes property interest still takes place.
 It is proved that the loan agreement is combined with those types of lease, the systemic features of which do not contradict the factor of gratuitousness (vehicle loan, home loan, capital construction).
 It is proposed to make corrections to Part 3 of Art. 827 of the Civil Code of Ukraine on the possibility of applying the provisions of Chapter 58 of the Civil Code of Ukraine (Lease Agreement), as well as proposed additional Article 837-1 of the Civil Code on liability under the loan agreement.
 With the analysis of the outlined problem, it is concluded that for the loan agreement the sign of gratuitousness is decisive, which gives grounds to distinguish the loan from other types of civil law agreements.

The Effect of Brain Gym on Global Cognitive Function of Institutionalized Older People

Cognitive function of older adults is influenced by several factors such as age, sex, education, and physical activity so that it can impact the decrease in progressive cognitive function. It is necessary to implement cognitive training in old people’s care to prevent or delay the onset of age-related cognitive decline. Brain gym is a series of simple motion exercises and is an alternative therapy that stimulates the brain. This study aims to evaluate the effect of brain gym as a cognitive training intervention on global cognitive functioning of institutionalized older population. The study is a non-randomized quasi-experimental one using pre-and post-test control group design. The participants of the study were 65 years old or older who had been part of gerontological centers from a local community. They were divided into two groups: control and intervention, each one with 15 people. Mini-Mental State Examination was applied to the sample before and after the cognitive training. The brain gym training consists of bi-weekly group meeting for 12 weeks, lasting 50 min each. The treated group had a significantly better global cognitive function. Recalling (memory), orientation and language skills were the domains with the most signifi- cant changes (p < 0.05). On the other hand, no significant changes were found in the participants of control groups during post test. Our results suggest that cognitive training based in brain gym improves global cognitive function of institutionalized older people lease type your abstract here. Abstract of a research paper is typically 200 to 400 words in length, and 150 to 300 words for a review paper. Abstract shall be running continuously (not structured) and shall not include reference citations. Abbreviations that appear only once in the abstract should be defined in full. If abbreviations appear more than once, the full definitions should be provided first before they can be used elsewhere.

اجارہ کے جدید تصور کا قدیم فقہی تفصیلات کے تناظر میں تجزیاتی مطالعہ An Analytical Study of the Modern Concept of Lease in the Context of Early Islamic Jurisprudential Teachings

Acquiring the benefits of a particular thing or the services of an individual is called leasing (Ijarah), which is permissible and practicable by Shari’ah. The jurists have mentioned its details briefly in ancient books. In the modern economy, this term and agreement are used in a modern way and for financial purposes. In this article, an analytical study of this modern type of lease is presented in the context of ancient jurisprudential teachings. In this regard, it has tried to identify the problems that can be solved according to the Shari’ah. The main purpose of this study is to modernize the ancient teachings of jurisprudence and to present them in a practical way. Also, it aims at presenting the ancient teachings of the concept of Ijarah (Lease) in a modern way. For the establishment of comparative Jurisprudence, it is imperative to consider all available sources and details of various jurisprudent schools of thought so that an analysis can be made in the contemporary world about the discipline of two centuries. The study concludes that the “Ijarah” has taken a different form in modern times which is used for financing purposes and Shari’ah encourages its adoption.

Management of Federal Property at the University. Could it be Simplified?

A modern Russian university today is a large property complex, the effective use of which is necessary to ensure educational and scientific process problems in regard to academic process. However, universities also have to solve a wide range of social problems related to creating and maintaining a comfortable environment for students and professors, amongst other things engaging various organizations to create social services on campus. Although, characterization of outsourcing practices at universities shows that the existing legal base is incomplete, resulting in long and expensive procedures. All that reduces the universities’ effectiveness in solving an issue of creating a comfortable environment for learning and scientific research. The article analyses the decision-making process for some types of leases and proposes different measures to improve the regulatory framework, controlling the management of state property at universities.

People or Systems: Does Productivity Enhancement Matter More than Energy Management in LEED Certified Buildings?

This study examines the impact of energy management and productivity-enhancing measures, implemented as part of LEED Existing Buildings Operations and Management (EBOM) certification, on source energy use intensity and rental premiums of office spaces using data on four major US markets. Energy management practices, comprised of commissioning and advanced metering, may reduce energy usage. Conversely, improving air quality and occupant comfort in an effort to increase worker productivity may in turn lead to higher overall energy consumption. The willingness to pay for these features in rental office buildings is hypothesised to depend not only on the extent to which productivity gains enhance the profits of a commercial tenant but also on the lease arrangements for passing any energy savings to the tenant. We apply a difference-in-differences method at a LEED EBOM certification group level and a multi-level modelling approach with a panel data structure. The results indicate that energy management and indoor environment practices have the expected effect on energy consumption as described above. However, the magnitude of the achieved rental premiums appears to be independent of the lease type.

The Global Financial Crisis and transition out of homeownership in Korea

We investigate the impact of the 2008-2009 Global Financial Crisis (GFC) on housing tenure transitions in Korea, focusing on the determinants of pathways out of homeownership. Using Korean Labor and Income Panel Study (KLIPS) data covering the period 1999-2016, we analyze tenure transitions made by owner occupiers on the cusp of homeownership. The Korean case is interesting because an asset-based rental lease type, known as chonsei, and monthly rental leases with varying amounts of deposit, comprise the vast majority of private rental options. Western-style monthly rental leases account for a very small market share. Paying close attention to the availability of these private rental contract types, we investigate tenure transition by homeowners exposed to competing risks in the aftermath of the GFC. Estimates from the Cox single-hazard model suggest that, other things being equal, the hazard of homeowners’ transiting to a rental lease during the crisis years is 32% larger than during the non-crisis period. We also find that the effects of the crisis on transitions out of ownership depend on the types of private rental arrangements available to homeowners. Finally, about 50% of the ex-homeowners are still renters by the end of the 4th year, falling to 30% by the end of the 10th year after exiting from homeownership.

Penyaluran Dana Bank Syariah Melalui Pembiayaan Murabahah, Istishna, dan Ijarah Sebelum dan Selama Pandemi Covid 19

Impact of the Covid-19 pandemic in Indonesia is not only in the productive sector but has an impact on the financial sector such as conventional and Islamic financial institutions including banking. Islamic banks have business activities through murabaha, istishna', and ijara financing for sale and purchase and lease types. The impact felt by the banking sector can be seen from the existence of financing problems. The purpose of this research is to compare the conditions of sharia financing before and during the Covid-19 pandemic. The method used is the paired sample t-test with a sample of Islamic banks in Indonesia. The results show murabaha and istisna' financing has increased, while ijara financing has decreased during the Covid-19 pandemic.

Recent developments in the law of secured transactions of movables under the new Chinese Civil Code

Abstract In May 2020, the first Chinese Civil Code was enacted. This Civil Code incorporates several modifications of the law of secured transactions concerning corporeal movables and receivables. These modifications are made under the influence not only of international conventions, model laws, and legislative guides by the International Institute for the Unification of Private Law and the United Nations Commission on International Trade Law but also of overseas legislation, especially Article 9 of the Uniform Commercial Code. First, a semi-functional approach is taken by the Civil Code. The security agreement includes, in addition to typical security contracts, ‘other contracts having a function of security’. Consequently, the rules concerning the property right of charge (hypothec) are also applicable to reservation of ownership, financial lease, factoring, and other security interests, provided that there is no lex specialis. This leaves a larger space of autonomy for individual parties. Moreover, the new Civil Code intends to construct a more inclusive register by requiring reservation of ownership, financial lease, factoring, and other types of security rights to be registered to be effective against third parties. The future register for ordinary corporeal movables and claims will very possibly be a notice-filing system.

Analysis on the Determinant of Lease Types of Korean Household

우리나라 임대시장에서 전세가 차지하는 비중은 점차 축소되고 있으며 월세가 차지하는 비중은 점차 확대되고 있다. 월세의 비중 확대는 일정 금액의 보증금을 내고 보증부월세의 확대가 주요 원인으로 나타나고 있다. 이러한 상황에 따라 본 연구에서는 임대형태(전세 또는 월세) 결정요인에 어떤 영향을 미치는 지에 대해 분석을 하였다. 이러한 연구를 위해 이항 로지스틱 회귀 분석을 활용하여 2017년과 2019년 한국 가계금융복지조사를 활용한 가계, 자산, 소득정보 측면에서 분석을 진행하였다. 이러한 분석결과 2017년 월세가구에서 2019년 월세로 계속 유지한 가구인 경우 전세보증금 부족이 월세(전세로 전환되지 않음)의 주거유형 결정에 큰 영향을 미친다는 것으로 나타났다. 또한, 2017년에 전세가구에서 2019년에 월세로 전환하는 가구도 전세보증금이 크게 줄고 저축이 부족하며 근로소득이 적은 것으로 나타났다. 이는 자산이나 소득 면에서 재정 능력이 떨어지는 가구가 월세를 임대 형식으로 유지하는 결과로 해석하였다. 따라서 경제적 여력의 부족으로 안해 주거유형을 전환하고자 하나 전환하지 못하는 경우를 경제적 여력으로 뒷받침해줄 수 있는 제도 강구, 보완 등이 필요할 것으로 보인다.

ON PARTICULAR ASPECTS OF AGRICULTURAL LEASE FUNDING

The present article presents some of the aspects inherent to lease as an alternative method for funding farmers when it comes to finance lease. As a matter of fact, this type of lease is profitable in agriculture when it comes to delivering and using high-tech fixed assets.

Modelling non-life insurance in Sri Lanka using Cox Hazard Model and classification of risky customers

Some of the major factors that help the decision-making process of an insurance company include Time of the first claim (TFC), claim Size and the frequency of claims. However, in most situations researchers focus mainly on the second and third factors mentioned above. We hypothesize the importance of the TFC of an insurance contract in the decision-making process. Empirical evidence of motor vehicle insurance data in Sri Lanka suggests that nine covariates are responsible for the claim sizes. In the current study, our main objective is to find the key factors of those nine that are responsible for the TFC of the insurance contract. This study is based on the claim data in the whole year of 2016 of non-life insurance policies of a particular insurance company in Sri Lanka. Considering the TFC as right-censored data, selected nonparametric methods, i.e., Kaplan-Meier, Nelson-Aalen estimators, and Cox Proportional Hazard Model are used to analyze the data. We identified the five most influential covariates namely, vehicle type, log of Premium Value and that of Assured Sum, the lease type and the age range via fitting the Cox Model to TFC data. After a thorough residual analysis, the Logistic regression model has been used to identify the important covariates to classify future customers as risky or not. Key words: Classification, Cox Proportional Hazard model, Kaplan-Meier, Right-censored

Features of formation and development of lease relations in Tavriya province (2nd half of XIX century – 1917)

The article deals with the process of formation and development of lease relations in the agrarian sector of Tavria province in the second half of the 19th century-1917 in the conditions of vendible farming and animal husbandry development. The causes of widespread leasing and the specificity of this process in different counties of the province are analyzed. The role of landlord ownership in the formation of the lease fund of the region is determined. The vast lands served as a significant source of productive and non-productive profit for the local nobility. Few owners of capitalist-type farms used the proceeds of the lease to modernize their farms. Lease was the main means of land use for the vast majority of nobles. The ways of involving the Taurian peasantry in the lease relations in the conditions of its property and social differentiation are revealed here. Attention is drawn to the fact that the wealthy peasantry was the main tenant who used the leased land primarily for the organization of commercial agriculture. Characterization of the types of land constituting the lease fund of the region have been made. It has been found that private ownership constituted its vast majority, as well as peasant allotments, treasury lands and private institutions. The specifics of the lease of state-owned lands in Tavria province are shown. A wide variety of statistical sources cover the types of land leases and regional features of their using. Skopschina was a popular form of rent; however, on the areas of commercial agriculture, there was a dynamic development of monetary rent as a characteristic feature of capitalist housekeeping. The dynamics of changes in rental prices in the context of species and regional differentiation are traced. The advantages and disadvantages of rent for the owners and tenants of the province are highlighted. It was concluded that the lease occupied an important place in the land tenure and land using of the population of Tavria province - above all, the nobility and the peasantry as the main subjects of lease relations and makers of agricultural products. It contributed to the development of entrepreneurship and the strengthening of capitalist forms of farming in the countryside.