Challenges and Possibilities for the Household Medicine Lease （HML） System Viewed in Light of CRM： HML-Based Everyday Self-Medication in Ubiquitous Network Society

Household medicine lease （HML） industry originated way back in the Edo period （17C-19C）, when it was promoted by the local fiefdom government to revitalize the economy. Accumulations of wealth, acquired thereafter from everywhere outside the region, have culminated in the formation of the present-day industrial cluster in Toyama, the largest in the whole area facing the Sea of Japan. Today an adaptation of the quasi-CRM （customer relationship management） business model of the HML system has proved to be a success in Mongolia. This fact seems to offer the authors some clues for dealing with those problems that healthcare and medical services in Japan and elsewhere are riddled with. In this paper, focusing on the common critical success factors （CSFs） behind the success of the authors＇ prototype HML system and its recent successful application in Mongolia, the authors will analyze these factors from the perspective of CRM. The authors will then clarify the following： （1） the usefulness of the business model for ensuring primary healthcare for people in developing countries; （2） the usefulness in our ubiquitous network society of applying ICT to the HML system; （3） possible contributions that the use of the system can make toward improving the quality of our everyday healthcare and medical services in our prominently aging society; and the authors will also suggest （4） the importance of elevating ＂individual self-medication＂ to ＂community-based self-medication＂.

Valuing options to renew at future market value:the case of commercial property leases

In this study,we develop and empirically test a valuation model for a commonly encountered option in office leases:a tenant’s option to renew at future market rent(a fair market value)with lease termination as the maturity date.The model integrates decision analysis with real options analysis and market risk with private risks.“Option value”is defined as the private value of the option to either party pre-contract,while“option price”assumes a fair agreement between transacting parties and can be positive(rental premium paid)or negative(rental discount offered).Without manifest expectations,an analysis of a sample of office leases supports the model’s logic with price estimates in a practical range.The tenants’option price/value is shown to have a negative relationship with the original/renewal lease term;conversely,the landlords’option value is positively related to the original/renewal term.Comparative analyses show that transaction costs have a positive effect on tenants’option value and on prices,while vacancy costs and the vacancy period are both positively related to the landlords’option value and negatively related to price.Market rent is found to have a negative relationship with option price.Overall,this study provides a theoretical analysis and empirical tests of the value of a real option that allows option holders to renew/extend their contracts at a fair market value.

A New Lease of Life Organ donation gains wider acceptance in China as an efficient donation system raises awareness

Wu Yue, a lung transplant recipi ent. now regards August 31, the day she underwent surgery, as her re-birth day. In the eyes＇ of many people, the 30-year- old woman is an embodiment of love, dili gence and intelligence.

A Blockchain-Based Proxy Re-Encryption Scheme with Conditional Privacy Protection and Auditability

With the development of Internet of Things technology,intelligent door lock devices are widely used in the field of house leasing.In the traditional housing leasing scenario,problems of door lock information disclosure,tenant privacy disclosure and rental contract disputes frequently occur,and the security,fairness and auditability of the housing leasing transaction cannot be guaranteed.To solve the above problems,a blockchain-based proxy re-encryption scheme with conditional privacy protection and auditability is proposed.The scheme implements fine-grained access control of door lock data based on attribute encryption technology with policy hiding,and uses proxy re-encryption technology to achieve auditable supervision of door lock information transactions.Homomorphic encryption technology and zero-knowledge proof technology are introduced to ensure the confidentiality of housing rent information and the fairness of rent payment.To construct a decentralized housing lease transaction architecture,the scheme realizes the efficient collaboration between the door lock data ciphertext stored under the chain and the key information ciphertext on the chain based on the blockchain and InterPlanetary File System.Finally,the security proof and computing performance analysis of the proposed scheme are carried out.The results show that the scheme can resist the chosen plaintext attack and has low computational cost.

A Novel System Model based on Cost-prediction for Spectrum Leasing in Cognitive Radio

In current researches on spectrum leasing, Common model and Property-right model are two main approaches to dynamic spectrum sharing. However, Common model does not consider the obligation of Primary System (PS) and is unfair to Secondary System (SS), while the cooperation based on Property-rights model has problems on its feasibility. This paper proposes a novel system model, in which a Cost-Prediction scheme for Spectrum Leasing (CPSL scheme) is designed to forecast the cost that PS would pay for leasing spectrum. Cost Function is introduced as a criterion to evaluate the potential cost of spectrum leasing for PS. The simulation results show that compared with Common model based scheme, CPSL scheme substantially improves the QoS of the delay-sensitive traffic in SS at the cost of a small degradation of PS performance.

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.

The Profit Model of Long-Term Lease Apartments Under Multi-Agent Supply

The acceleration of urbanization has led to an increase in the number of urban floating population, which leads to more demands for the housing rental market. With the support of policies, long-term lease apartments have begun to emerge. However, under the multi-subject supply, longterm lease apartments have encountered problems such as small profits in their development. Starting from the background of the development of long-term lease apartments, this study classified the main types of long-term lease apartments, analyzed the four profit models of comprehensive profit, expansion of rent difference, REITs and value-added services based on their business models, and proposed corresponding suggestions on the profitability of long-term lease apartments according to the current situation of profit difficulty of long-term lease apartments and the lack of profit models.

Economic Analysis on Rent of Equipment Lease of Coal Enterprise

Rent is the key factor in equipment lease. The business that equipment lease company of coal mining often engaged in can be divided into three kinds, that is sublease, operating lease and inter lease, in term of the difference of the role of lease, character of business, object of the trade and condition of the market. The problem in rent calculating of the three kinds of lease that equipment lease company of coal mining often involved was analyzed. Hope to be helpful to the decision making of the equipment lease company of coal mining.

Islamic Banking System and Mode of Leasing： A Comparative Analysis in the Light of Maqasid al-Shari＇ah

This article discusses Islamic Banking System and its mode of leasing in the light of the objectives of Shari＇ah. It explores that the objectives behind the introduction of Islamic finance and banking system were the elimination of capitalist banking interest, exploitation of poor segment of the society and the establishment of an economic system which may lead to sustain a balance economic order and social justice. In this context, it intends to analyze the mode of leasing provided by Islamic Banking system in the light of the objectives of Shari＇ah and discloses that although Islamic Banking system is based on the principle of mudarbah, musharkah and Ijarah and deals with the customers in that context, yet apparently, the effects of these transactions are not much different from capitalist modes due to same consequences and effects of these transactions. It thus, provides a comparative analysis of the issue, i.e., mode of leasing at both Islamic and capitalist Banks. It argues that a common man can not avail Islamic financing/leasing if he lacks financial resources. If a poor person tries to purchase something by way of ijarah through Islamic Banking finance, he does not find any difference in the payment of the total cost between capitalist mode of leasing and Islamic mode of ijarah. Hence, this article concludes that although Islamic financing achieved a remarkable development among the Muslims, yet there is a need to revise the policy and system of Islamic financing in the light of the objectives of Shari＇ah. It also concludes that the mode of leasing provided at Islamic Banks does not accomplish the objectives of its establishment which is public interest. At present, this system is unable to assist the poor segment of the society or to provide ease to them.

Effects of Labor Price Hike and Population Ageing on Rural Land Lease in China

In answering the questions as whether China's rising labor price and ageing workforce have affected rural land leasing and whether these factors have any joint effect,we have employed RCRE data of the Ministry of Agriculture to carry out an empirical analysis and the result indicates that labor price hike has significant positive effects on both the land lease-in and lease-out of rural households,i.e.labor price hike will help increase the land leasing of rural households.At the level of ageing workforce,our empirical results indicate that ageing workforce does not create any significant impact on rural land leasing market no matter for land lease-in or lease-out in overall samples,plain regions and mountainous regions.In our empirical analysis on whether ageing workforce will intensify or weaken the effects of labor price hike on rural land leasing market,the regression result also indicates that there is no significant effect from a statistical perspective.

Our lease accounting on Related Issues

With the rapid development of the leasing industry in our country, people lease accounting requirements are also getting higher and higher.According to ChinEs ＂Enterprise Accounting Standards No. 21 - Leases＂ for lease accounting concepts.Clear lease accounting treatment.Situation Analysis lease accounting in China.Comparative and International lease accounting standards, while the analysis of the problems of lease accounting according to Chinese accounting situation. Make recommendations for the establishment of a sound lease accounting standards and China＇s actual combination.

IN VITRO AND IN VIVO DRUG RELEASE STUDIES OF BIODEGRADABLE COATED TABLLAE WITH POLY(AMINO ACIDS)

Poly-α-amino acid is a kind of biodegradable biomedical material.It is used forthe preparation of sustained drug-release device.There are some advantages of thedrug delivery devices.They can provide the therapy with side effects.The drug re-lease is maintained at a beneficial rate for a prolonged time.The polymer may bebiodegraded after the drug has been exhausted.

STUDIES OF A BIODEGRADBLE DELIVERY CAPSULES (CAPROF)CONTAINING LEVONORGESTREL (LNG):IN VIVO DRUG RELEASE EVALUATION

The paper describes drug release evaluation of a biodegradable long-acting con-traceptive Capsule (CaproF) containing levonorgestrel (LNG)in vivo.Poly(E-Capro-lactone) (PCL) biodegradable material,suitable for many medical application,wasused in this study.It was extruded into tubes.The tubes were then cut and loadedwith LNG powder before melting-sealed on both ends to get drug capsules.This sub-dernal implant has been found to be highly effective in animal experiments.Two ad-

Research on Financial Lease Pricing Model

Financial leasing is a financial innovation product with leasing and financing functions.The research on the theory of financial leasing and risk pricing methods should be highly valued.Rent is set based on the total revenue of the lessor and the total cost of the lessee.The factors that affect pricing include project costs,security deposits,fees,lease terms,revenue,interest rates,etc.Using the principle of net present value to elaborate the components of financial leases and constructing a financial lease pricing model from the perspective of maximizing the profit and interests of the lessor,an empirical analysis of the model was carried out using an actual case,thus concluding that the model is effective.

Prisons Help Inmates Turn a New Lease in Life

Shandong Province, east China,has reported a recidivist rate of 2.6 percent, meaning that of every 100 convicts jailed for criminal offenses, an average of only 2.6 have committed

Psychological Counseling Helps Prison Inmates Turn a New Lease in Life

Psychological counseling for ＇prison inmates appeared in Jiangsu in the late 1980s, and it is now available in all prisons in this east China province. According to Yu Airong, director of the Jiangsu Provincial Prison Administration, the 19 prisons in the province each have a psychological correction center staffed by professionals.

美国租赁会计准则修订、影响及经验借鉴

IFRS16 Lease和US GAAP更新稿ASU2016-02 Lease(Topic842)(以下简称Topic842或新准则)先后于2016年1月和2月发布。通过回顾租赁准则的修订背景,比较Topic842与US GAAP ASC840后认为:(1)新准则的主要变化在于租赁定义、承租人租赁业务(除短期租赁外)表内确认及售后租回业务确认与计量等方面;(2)承租人融资租赁判断标准及会计处理理念、承租人经营租赁对综合收益表和现金流量表的影响未发生变化;(3)融资租赁出租人会计处理除与Topic606指引相协调发生变化外总体未变;(4)新准则能够有效增强信息透明度与可比性,但因Topic842依旧侧重区分租赁合同实质加以分类处理,故复杂程度高于IFR S16 Lease。

FINDING EVIDENCE OF GREEN LEASING IN UNITED STATES GOVERNMENT-LEASED PROPERTIES

Although the term“green leasing”is not yet well defined,its primary purpose is clear.With an aim to create a collaborative environment through legal provisions between a building owner and a tenant,green leasing may ultimately help resolve the energy paradox in tenanted properties.Issues surrounding split-incentives are driven by a mismatch between owners’capital expenditures on improving building energy efficiency and an uncertainty of tenant or occupant behavior that might affect a building’s energy consumption.Though some countries have started to develop guidelines promoting the adoption of green leasing,especially in government buildings and commercial real estate,implementation has not been overly successful globally.This study has two focuses,the first of which is to compare green leasing guidelines from various countries and to suggest six comprehensive categories of green leasing components:management relationships,information sharing,certificates,legal stipulations,financial factors,and operation.The second core area of research places government-tenanted properties’lease agreement contracts.The goal is to find any evidence in a legal condition between a building owner and a tenant,in this case federal government,to improve building energy efficiency with less environmental impact in the United States.The findings of the study indicated 41 out of 400 leases had green clauses.Three out of six categories proposed in this study were found in the U.S.government-tenanted properties,while the other three types were not shown.The findings of this study also suggest categories of green leasing clauses can contribute to defining green leasing and provide empirical evidence of green leasing in government-tenanted properties.Ultimately,this study produces arguments for possible reasoning behind the employment of some green lease categories but the lack of use of others,specifically in the U.S.office market and government-tenanted buildings.

定期租船模式下出租人船舶租赁运营决策模型

将定期租船决策问题转化为M/EK/S/S/∞随机服务系统,用大量实地观测数据检验租船流分布的特性,构建出租人船舶持有数量的决策模型,解决租船需求不确定和船舶租期不确定情形下的船舶持有数量优化决策问题,并通过算例验证了模型的有效性。