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.

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.

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。

中法关于广州湾租借地设关的交涉(1901~1913)

19世纪末,随着胶州湾、旅大(今大连)、威海卫、广州湾、新界几个租借地的出现,胶州湾和旅大先后建立了租借地海关,广州湾、威海卫和新界三个租借地并未另设海关,其进出口管理和关税征收分别由设于这三处租借地周围的粤海关、东海关和九龙关的分支机构,按对外国进出境事务办理。①由于欠缺有效的海关管理,广州湾租借地始终摆脱不了声名狼藉的走私港的负面形象。

一种新的变步长LMS算法

为了提高LMS自适应算法的性能,在对传统LMS算法、变步长LMS算法及其改进算法分析的基础上,提出了一种新的步长与误差信号之间的函数关系。既能保证均方误差收敛、有较小的失凋,又能在算法达到稳态时,在低信噪比环境下有很好的跟踪性能,并且不易受噪声影响。理论分析和计算机仿真结果均表明该算法优于传统算法。

租赁业的基本分类及概念辨析

本文对国内外关于租赁业的几个基本分类及概念进行了梳理和分析,说明了相关概念的区别与联系。

论《巴塞尔协议Ⅱ》对美国租赁业的影响及对我国的启示

《新巴赛尔资本协议》的出台不仅影响了银行的经营状况,也深刻的影响了以银行为母公司的租赁企业的经营行为。本文从资本要求、信用风险和操作风险、市场竞争、资产组合证券化、IT系统等几个方面探讨了《新巴赛尔资本协议》对美国租赁行业的影响。

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.

Laws,Defects and Countermeasures on the Circulation of Rural Housing Land——From the Perspective of Farmer Rights Protection

The thesis combs the existing legal provisions about rural housing land from the perspectives of use restriction,means restriction,subject restriction and mortgage prohibition,and finds out their defects,namely,weakening real right,confused knowledge about the integration of house property and land property,the loophole in Land Administration Law,the bans on the rural residents' purchase of housing land and so on.Then the thesis expounds the harms of restricting the circulation of housing land,for example,it will result in underground transaction of housing lands;lead to untenanted lands and waste of resources;bring about financing difficulty for peasants;do harm to the interest of land owners(rural collective economic organizations) and so on.The thesis further proposes to establish the legal lease model to solve the problems in the circulation of housing lands,specifically explains the definition of the legal lease model of housing lands,illustrates its detailed information from the aspects of object,subject and content and elaborates a series of problems involving,how to distribute the rent of housing lands,as well as how to perfect relevant procedures and formalities in the credit circulation of housing lands so as to realize the legitimate and effective circulation of rural housing lands and protect the peasants' interests.

Web强缓存一致性的研究

Web对象缓存技术是一种减少web服务器访问通信量和访问延迟的重要手段。Web缓存的引入虽然大大减轻了服务器负载,降低了网络拥塞,减少了客户端访问的延迟等优点,但同时也带来缓存的一致性问题,这样使客户端获得web的数据可能不是最新的版本。该文通过分析现有的缓存一致性方针,提出了一个应适于web的强缓存一致性算法。

THEORETICAL AND EXPERIMENTAL RESULTS ON THE KINETICS OF CALCITE DISSOLUTION AND PRECIPITATION

INTRODUCTION Dissolution and precipitation of carbonates plays an important role in nature, such as in the chemistry of seawater, the sedimentation of carbonate at the seafloor, the geochemical evolution of freshwater aquifers and last but not least, most spectacular, the evolution of karst landscapes. To provide a deeper understanding to all these processes knowledge is required

WORLD NEWS IN BRIEF (September 16-30, 1991)

The Philippines senate rejected a new lease for the Subic Pay naval base on Septemker 16 in a vote that could end America’s 93-year military presence in the Philippines. The senate voted 12-11 on second reading to reject the friendship treaty between the two countries signed last month.

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.

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.

Relevance in the Application of IFRS 16 for Financial Statements:Empirical Evidence the Impact of the Financial Method in SMEs

Leasing is confirmed among the preferred forms of financing by SMEs(Small and Medium Enterprises),even if its use grows both among large companies and private individuals.The stipulated in Europe increased in 2017 by 8.3%over the previous year.From 1 January 2019 the new accounting standard IFRS 16 is in force,which concerns the accounting of leasing contracts.The new methods of accounting for leasing contracts in the financial statements drawn up based on international accounting standards come into force.In fact,as from 1 January 2019,the IAS adopters are required to apply the new IFRS 16 standard,introduced in place of IAS 17,with the aim of standardizing the methods for recognizing leasing contracts in the financial statements.Scientifically,the most important researches concerning leasing have dealt with the topic focusing on accounting harmonization,accounting for leasing,capitalization of leasing and tax.Through the theoretical analysis and the simulation of our case study we want to answer a question:How the change in the accounting of leases is reflected in the financial statements?

The Spatial Organization Dialectics of the City ofJeriquara/SP, Brazil

The present paper aims to analyze and discuss the morphological formation of the city of Jeriquara, located in the countryside of the state of S o Paulo, Brazil. The importance of this study lays on its primary documentation, that is, the long lease deeds (cartas de aforamento). These deeds are part of the medieval legal system implemented in Brazil by the Portuguese. The long lease, perpetual lease or tenure, or fiefdom (in the Brazilian legal system, aforamento, enfiteuse or emprazamento) are synonyms of this legal institute that divides urban land between two holders: the Catholic Church and the civil individual. This article employs as research method the interpretive and descriptive analysis of such deeds, based on theoretical bibliography on the referred legal institute, civil law and the Brazilian forms of urbanization. Following the presentation of a case study there will be the discussion of the juridical issues at the core of the national colonization implemented by the Portuguese and which are at the genesis of several of the current conflicts. This study shows that the urban territory of many cities is still ruled by these past contexts and, without understanding them, we will not be able to efficiently interfere with city spaces.

Research on Influencing Factors of Residential Rental Price Based on Hedonic Price Model:A Case Study of Nanshan District,Shenzhen

Taking Nanshan District,Shenzhen as an example,the paper studies the influencing factors of residential rental price via hedonic price model.The hedonic price index system is constructed and relevant characteristic variables are selected from the perspectives of building characteristics,location characteristics,neighborhood characteristics and rental characteristics.The residential rental data in the second half of 2020 are analyzed by multi-factors linear regression,and hedonic price model of house lease in Nanshan District is obtained to analyze the inherent law of residential rental price structure in this area.

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.