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1 – 10 of over 1000Lee Felix Anzagira, Daniel Duah, Edward Badu, Eric Kwame Simpeh and Alexander B. Marful
The purpose of this paper is to ascertain the significant stimulating measures/enablers relating to the existing building regulations for promoting the adoption and overcoming the…
Abstract
Purpose
The purpose of this paper is to ascertain the significant stimulating measures/enablers relating to the existing building regulations for promoting the adoption and overcoming the barriers to the uptake and implementation of the green building concept (GBC) in developing countries using Ghana as a case.
Design/methodology/approach
The quantitative research approach was used to attain the study’s goal. Purposive and snowball sampling techniques were found to be suitable for collecting data from 292 relevant stakeholders in Ghana’s construction industry. The mean score ranking technique, in conjunction with the relative importance index, was used to establish the relative ranking of, among other things, the stimulus measures for increasing green building uptake in Ghana. An exploratory factor analysis was also used to classify the most significant stimulation strategies for improving green building uptake.
Findings
“Educational programmes relevant to GBTs for developers, contractors, and policymakers,” “sufficient information on the cost and benefits of GBTs” and “mandated green building codes and regulations” were the top three listed stimulating measures to promote increasing use of green building technologies (GBTs). The enablers were classified as follows: government regulations and policies; commitment and GB research; education and publicity; and incentives and support.
Research limitations/implications
The study was conducted in Ghana, a developing nation, and thus the findings and implications are peculiar to Ghana. However, the study’s findings have important practical implications for the adoption and marketing of GBCs and GBTs in other developing nations.
Originality/value
Prioritizing major stimulation initiatives may be beneficial in terms of overcoming the constraints to the adoption of GBCs and GBTs in developing countries.
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Beatriz Campos Fialho, Ricardo Codinhoto and Márcio Minto Fabricio
Facilities management (FM) plays a key role in the performance of businesses to ensure the comfort of users and the sustainable use of natural resources over operation and…
Abstract
Purpose
Facilities management (FM) plays a key role in the performance of businesses to ensure the comfort of users and the sustainable use of natural resources over operation and maintenance. Nevertheless, reactive maintenance (RM) services are characterised by delays, waste and difficulties in prioritising services and identifying the root causes of failures; this is mostly caused by inefficient asset information and communication management. While linking building information modelling and the Internet of Things through a digital twin has demonstrated potential for improving FM practices, there is a lack of evidence regarding the process requirements involved in their implementation. This paper aims to address this challenge, as it is the first to statistically characterise RM services and processes to identify the most critical RM problems and scenarios for digital twin implementation. The statistical data analytics approach also constitutes a novel practical approach for a holistic analysis of RM occurrences.
Design/methodology/approach
The research strategy was based on multiple case studies, which adopted university campuses as objects for investigation. A detailed literature review of work to date and documental analysis assisted in generating data on the FM sector and RM services, where qualitative and statistical analyses were applied to approximately 300,000 individual work requests.
Findings
The work provides substantial evidence of a series of patterns across both cases that were not evidenced prior to this study: a concentration of requests within main campuses; a balanced distribution of requests per building, mechanical and electrical service categories; a predominance of low priority level services; a low rate of compliance in attending priority services; a cumulative impact on the overall picture of five problem subcategories (i.e. Building-Door, Mechanical-Plumbing, Electrical-Lighting, Mechanical-Heat/Cool/Ventilation and Electrical-Power); a predominance of problems in student accommodation facilities, circulations and offices; and a concentration of requests related to unlisted buildings. These new patterns form the basis for business cases where maintenance services and FM sectors can benefit from digital twins. It also provides a new methodological approach for assessing the impact of RM on businesses.
Practical implications
The findings provide new insights for owners and FM staff in determining the criticality of RM services, justifying investments and planning the digital transformation of services for a smarter provision.
Originality/value
This study represents a unique approach to FM and provides detailed evidence to identify novel RM patterns of critical service provision and activities within organisations for efficient digitalised data management over a building’s lifecycle.
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Shaghayegh Abolmakarem, Farshid Abdi, Kaveh Khalili-Damghani and Hosein Didehkhani
This paper aims to propose an improved version of portfolio optimization model through the prediction of the future behavior of stock returns using a combined wavelet-based long…
Abstract
Purpose
This paper aims to propose an improved version of portfolio optimization model through the prediction of the future behavior of stock returns using a combined wavelet-based long short-term memory (LSTM).
Design/methodology/approach
First, data are gathered and divided into two parts, namely, “past data” and “real data.” In the second stage, the wavelet transform is proposed to decompose the stock closing price time series into a set of coefficients. The derived coefficients are taken as an input to the LSTM model to predict the stock closing price time series and the “future data” is created. In the third stage, the mean-variance portfolio optimization problem (MVPOP) has iteratively been run using the “past,” “future” and “real” data sets. The epsilon-constraint method is adapted to generate the Pareto front for all three runes of MVPOP.
Findings
The real daily stock closing price time series of six stocks from the FTSE 100 between January 1, 2000, and December 30, 2020, is used to check the applicability and efficacy of the proposed approach. The comparisons of “future,” “past” and “real” Pareto fronts showed that the “future” Pareto front is closer to the “real” Pareto front. This demonstrates the efficacy and applicability of proposed approach.
Originality/value
Most of the classic Markowitz-based portfolio optimization models used past information to estimate the associated parameters of the stocks. This study revealed that the prediction of the future behavior of stock returns using a combined wavelet-based LSTM improved the performance of the portfolio.
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Martin Hoesli, Louis Johner and Jon Lekander
Using data spanning 145 years for Sweden, the authors investigate the benefits of holding multi-family properties for investors who aim to hedge wage growth.
Abstract
Purpose
Using data spanning 145 years for Sweden, the authors investigate the benefits of holding multi-family properties for investors who aim to hedge wage growth.
Design/methodology/approach
The authors assess the risk-adjusted excess return that results from adding multi-family properties to a mixed-asset portfolio that aims to track wage growth. The authors also analyse the macroeconomic determinants of asset returns. Finally, the authors test whether a causal relationship exists between the growth rate of real wages and that of real net operating income.
Findings
The benefits from holding multi-family properties are the greatest for low-risk allocation approaches. For more risky strategies, the role of real estate is more muted, and it varies greatly over time. Holding real estate was most beneficial during the first two decades of the 21st century. Multi-family properties are found to be the only asset class to be positively related to wage growth. The authors show that the net operating income acts as the transmission channel between wages and property returns.
Practical implications
The paper assesses whether the growing interest of pension funds for multi-family properties is warranted in the context of a portfolio that aims to track wage growth.
Originality/value
Using long term data makes it possible to use a rolling windows approach and hence to consider multiple outcomes for an allocation strategy over a typical investment horizon. This permits to assess the dispersion of performance across several periods rather than just one as is commonly done in the literature. The results show that the conclusions that would be drawn from looking at the past two or three decades of data differ substantially from those for earlier time periods.
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Christopher Amoah and Jeanne Smith
This study aims to examine the challenges for green retrofitting implementation in existing residential buildings to lower the running cost and achieve a better energy-efficient…
Abstract
Purpose
This study aims to examine the challenges for green retrofitting implementation in existing residential buildings to lower the running cost and achieve a better energy-efficient system.
Design/methodology/approach
This study adopted a qualitative approach by interviewing conveniently selected 16 construction professionals, made up of architects, quantity surveyors and engineers. Data received were analysed using the content analysis method.
Findings
The findings revealed that the main barriers to incorporating green retrofitting in the existing residential buildings as the nature of the existing structures, limited knowledge, not being a priority and high costs involved in the process. Moreover, other factors influencing property developers’ decision to apply energy-efficient principles in a residential home include cost (initial capital and maintenance), level of knowledge, nature of the climate in the area, local legislation, more independence and increasing the property’s market value and environmental aspect.
Research limitations/implications
This study is limited to South Africa; thus, the literature available was limited.
Practical implications
People’s perceptions, either wrong or correct, affect their ability to make an informed decision to adopt green retrofitting principles, thereby denying them the opportunity to reap the associated benefits. Therefore, there is an urgent need for the construction industry stakeholders and government to increase educational opportunities for property owners on the importance of green retrofitting.
Originality/value
This study provides the occupants with the possible barriers and problem areas with implementing these principles. They will thus make an informed decision when implementing sustainable design methods.
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Although the value effect is comprehensively investigated in developed markets, the number of studies examining the Vietnamese stock market is limited. Hence, the first aim of…
Abstract
Purpose
Although the value effect is comprehensively investigated in developed markets, the number of studies examining the Vietnamese stock market is limited. Hence, the first aim of this research is to provide empirical evidence regarding returns on value and growth stocks in Vietnam. The second aim is to explain abnormal returns on Vietnamese growth and value stocks using both risk-based and behavioral points of view.
Design/methodology/approach
From the risk-based explanation, the Capital Asset Pricing Model (CAPM), Fama–French three- and five-factor models are estimated. From the behavioral explanation, to construct the mispricing factor, this paper relies on the method of Rhodes-Kropf et al. (2005), one of the most popular mispricing estimations in the financial literature with numerous citations (Jaffe et al., 2020).
Findings
While the CAPM and Fama–French multifactor models cannot capture returns on growth and value stocks, a three-factor model with the mispricing factor has done an excellent job in explaining their returns. Three out of four Fama–French mimic factors do not contain additional information on expected returns. Their risk premiums are also statistically insignificant according to the Fama–MacBeth second-stage regression. By contrast, both robustness tests prove the explanatory power of a three-factor model with mispricing. Taken together, mispricing plays an essential role in explaining returns on Vietnamese growth and value stocks, consistent with the behavioral point of view.
Originality/value
There are several value-enhancing aspects in the field of market finance. First, this paper contributes to the literature of value effect in emerging markets. While the evidence of value effect is obvious in numerous developed as well as international markets, both growth and value effects are discovered in Vietnam. Second, the explanatory power of Fama–French multifactor models is evaluated in the Vietnamese context. Finally, to the best of the author's knowledge, this is the first paper that incorporates the mispricing estimation of Rhodes-Kropf et al. (2005) into the asset pricing model in Vietnam.
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Ephraim Zulu, Sambo Lyson Zulu, Mwansa Chabala, Neema Kavishe, Charles Chifunda and Innocent Musonda
While previous studies have highlighted the importance of incorporating environmental sustainability in building designs, there is a paucity of studies that assess the extent to…
Abstract
Purpose
While previous studies have highlighted the importance of incorporating environmental sustainability in building designs, there is a paucity of studies that assess the extent to which design teams in developing countries consider environmental sustainability at the building design stage. Therefore, using Zambia as a case study, this study examined the extent to which infrastructure design teams in a developing country consider environmental sustainability at the design stage.
Design/methodology/approach
The study used a qualitative research approach using structured interviews because there are hardly any studies which have explored the extent to which designers incorporate environmental sustainability in infrastructure designs in developing countries. The data is analysed thematically using the ATLAS.ti software.
Findings
The results show that environmental sustainability is not an important design consideration because it is secondary to functional, technical and aesthetic considerations. Environmental considerations are also made in an ad hoc manner and when it is cost-effective for the project. Regulatory requirements pertaining to environmental protection are adhered to without any cost considerations. It was, therefore, theorised that building design teams in developing countries make technical, functional and aesthetic consideration during the infrastructure design stage ahead of environmental considerations.
Originality/value
There is a paucity of studies that have investigated whether building infrastructure designers consider issues of environmental sustainability at the design stage in developing countries. The findings have practical implications on how developing countries can foster environmental sustainability at the design stage and avoid generating a building infrastructure stock that will require environmental resilience adaptation in the future.
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Michela Menconi, Noel Painting and Poorang Piroozfar
The inclusion of heritage dwellings in the UK decarbonization policies can contribute to cut operational carbon emissions from the building stock; this needs to be made a priority…
Abstract
Purpose
The inclusion of heritage dwellings in the UK decarbonization policies can contribute to cut operational carbon emissions from the building stock; this needs to be made a priority if net zero carbon targets are to be achieved. However, the energy and carbon savings potential of suitable retrofit interventions on this part of the stock is extremely variable and strictly intertwined with the range of baseline conditions of such dwellings. This study aims to propose a framework for interventions in traditional listed dwellings (TLDs) to improve their energy performance utilizing dynamic energy simulation (DES) of selected case studies (CSs) in the city of Brighton and Hove (South-East England).
Design/methodology/approach
To achieve this aim, the study established a baseline scenario which provides a basis for the assessment of energy performance and thermo-hygrometric behaviour pre- and post-interventions and allows for comparison between different CSs under comparable conditions.
Findings
Presenting a brief overview of the methodology adopted in this study, the paper describes the approach devised to generate such baseline scenario. The paper then compares the results obtained from simulation of normalized and baseline models with the status-quo energy consumption of the dwellings investigated (based on meter readings).
Originality/value
This analysis finally allows to highlight some key physical determinants of the baseline HEC which, in the following stage of research, proved to have a considerable effect also on the amount of energy and carbon savings achievable post retrofit interventions.
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Stefania Stellacci, Leonor Domingos and Ricardo Resende
The purpose of this research is to test the effectiveness of integrating Grasshopper 3D and measuring attractiveness by a categorical based evaluation technique (M-MACBETH) for…
Abstract
Purpose
The purpose of this research is to test the effectiveness of integrating Grasshopper 3D and measuring attractiveness by a categorical based evaluation technique (M-MACBETH) for building energy simulation analysis within a virtual environment. Set of energy retrofitting solutions is evaluated against performance-based criteria (energy consumption, weight and carbon footprint), and considering the preservation of the cultural value of the building, its architectural and spatial configuration.
Design/methodology/approach
This research addresses the building energy performance analysis before and after the design of retrofitting solutions in extreme climate environments (2030–2100). The proposed model integrates data obtained from an advanced parametric tool (Grasshopper) and a multi-criteria decision analysis (M-MACBETH) to score different energy retrofitting solutions against energy consumption, weight, carbon footprint and impact on architectural configuration. The proposed model is tested for predicting the performance of a traditional timber-framed dwelling in a historic parish in Lisbon. The performance of distinct solutions is compared in digitally simulated climate conditions (design scenarios) considering different criteria weights.
Findings
This study shows the importance of conducting building energy simulation linking physical and digital environments and then, identifying a set of evaluation criteria in the analysed context. Architects, environmental engineers and urban planners should use computational environment in the development design phase to identify design solutions and compare their expected impact on the building configuration and performance-based behaviour.
Research limitations/implications
The unavailability of local weather data (EnergyPlus Weather File (EPW) file), the high time-resource effort, and the number/type of the energy retrofit measures tested in this research limit the scope of this study. In energy simulation procedures, the baseline generally covers a period of thirty, ten or five years. In this research, due to the fact that weather data is unavailable in the format required in the simulation process (.EPW file), the input data in the baseline is the average climatic data from EnergyPlus (2022). Additionally, this workflow is time-consuming due to the low interoperability of the software. Grasshopper requires a high-skilled analyst to obtain accurate results. To calculate the values for the energy consumption, i.e. the values of energy per day of simulation, all the values given per hour are manually summed. The values of weight are obtained by calculating the amount of material required (whose dimensions are provided by Grasshopper), while the amount of carbon footprint is calculated per kg of material. Then this set of data is introduced into M-MACBETH. Another relevant limitation is related to the techniques proposed for retrofitting this case study, all based on wood-fibre boards.
Practical implications
The proposed method for energy simulation and climate change adaptation can be applied to other historic buildings considering different evaluation criteria and context-based priorities.
Social implications
Context-based adaptation measures of the built environment are necessary for the coming years due to the projected extreme temperature changes following the 2015 Paris Agreement and the 2030 Agenda. Built environments include historical sites that represent irreplaceable cultural legacies and factors of the community's identity to be preserved over time.
Originality/value
This study shows the importance of conducting building energy simulation using physical and digital environments. Computational environment should be used during the development design phase by architects, engineers and urban planners to rank design solutions against a set of performance criteria and compare the expected impact on the building configuration and performance-based behaviour. This study integrates Grasshopper 3D and M-MACBETH.
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Dóra Mérai and Volodymyr Kulikov
The paper discusses ethical issues related to the adaptive reuse of ruin heritage on the example of the so-called ruin bars in Budapest's District VII. It explores how heritage…
Abstract
Purpose
The paper discusses ethical issues related to the adaptive reuse of ruin heritage on the example of the so-called ruin bars in Budapest's District VII. It explores how heritage discourse can contribute to the sustainable development of urban neighborhoods. The authors address the question by focusing on how a processual approach can be instrumental in identifying responsible and socially sustainable ways to reuse dilapidated heritage in a residential area.
Design/methodology/approach
The problem is analyzed through a case study based on field observation, participant observation, stakeholder interviews, policy analysis and media and social media content analysis.
Findings
The authors argue that ethical reuse of ruin heritage must take into consideration the values and interests of multiple stakeholders and the broadest range of consequences at the level of neighborhood and city. An integrated heritage and planning policy should consider and involve as active participants all the heritage communities concerned. Importantly, these groups, comprising both new and longtime residents, must include the vulnerable and marginalized.
Practical implications
The findings can be used by heritage managers for identifying and addressing ethical issues in their adaptive heritage reuse practices and by policymakers for integrating heritage management in urban development and making cities more inclusive (SDG #11).
Originality/value
The paper explores how ethical it is for business enterprises to build on the ruin esthetics in a residential district and what the ethical implications of this reuse process are for various stakeholders.
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