3,858 research outputs found

    Proceedings of the 10th International congress on architectural technology (ICAT 2024): architectural technology transformation.

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    The profession of architectural technology is influential in the transformation of the built environment regionally, nationally, and internationally. The congress provides a platform for industry, educators, researchers, and the next generation of built environment students and professionals to showcase where their influence is transforming the built environment through novel ideas, businesses, leadership, innovation, digital transformation, research and development, and sustainable forward-thinking technological and construction assembly design

    Quantifying Equity Risk Premia: Financial Economic Theory and High-Dimensional Statistical Methods

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    The overarching question of this dissertation is how to quantify the unobservable risk premium of a stock when its return distribution varies over time. The first chapter, titled “Theory-based versus machine learning-implied stock risk premia”, starts with a comparison of two competing strands of the literature. The approach advocated by Martin and Wagner (2019) relies on financial economic theory to derive a closed-form approximation of conditional risk premia using information embedded in the prices of European options. The other approach, exemplified by the study of Gu et al. (2020), draws on the flexibility of machine learning methods and vast amounts of historical data to determine the unknown functional form. The goal of this study is to determine which of the two approaches produces more accurate measurements of stock risk premia. In addition, we present a novel hybrid approach that employs machine learning to overcome the approximation errors induced by the theory-based approach. We find that our hybrid approach is competitive especially at longer investment horizons. The second chapter, titled “The uncertainty principle in asset pricing”, introduces a representation of the conditional capital asset pricing model (CAPM) in which the betas and the equity premium are jointly characterized by the information embedded in option prices. A unique feature of our model is that its implied components represent valid measurements of their physical counterparts without the need for any further risk adjustment. Moreover, because the model’s time-varying parameters are directly observable, the model can be tested without any of the complications that typically arise from statistical estimation. One of the main empirical findings is that the well-known flat relationship between average predicted and realized excess returns of beta-sorted portfolios can be explained by the uncertainty governing market excess returns. In the third chapter, titled “Multi-task learning in cross-sectional regressions”, we challenge the way in which cross-sectional regressions are used to test factor models with time-varying loadings. More specifically, we extend the procedure by Fama and MacBeth (1973) by systematically selecting stock characteristics using a combination of l1- and l2-regularization, known as the multi-task Lasso, and addressing the bias that is induced by selection via repeated sample splitting. In the empirical part of this chapter, we apply our testing procedure to the option-implied CAPM from chapter two, and find that, while variants of the momentum effect lead to a rejection of the model, the implied beta is by far the most important predictor of cross-sectional return variation

    Digitalization and Development

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    This book examines the diffusion of digitalization and Industry 4.0 technologies in Malaysia by focusing on the ecosystem critical for its expansion. The chapters examine the digital proliferation in major sectors of agriculture, manufacturing, e-commerce and services, as well as the intermediary organizations essential for the orderly performance of socioeconomic agents. The book incisively reviews policy instruments critical for the effective and orderly development of the embedding organizations, and the regulatory framework needed to quicken the appropriation of socioeconomic synergies from digitalization and Industry 4.0 technologies. It highlights the importance of collaboration between government, academic and industry partners, as well as makes key recommendations on how to encourage adoption of IR4.0 technologies in the short- and long-term. This book bridges the concepts and applications of digitalization and Industry 4.0 and will be a must-read for policy makers seeking to quicken the adoption of its technologies

    A BIM - GIS Integrated Information Model Using Semantic Web and RDF Graph Databases

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    In recent years, 3D virtual indoor and outdoor urban modelling has become an essential geospatial information framework for civil and engineering applications such as emergency response, evacuation planning, and facility management. Building multi-sourced and multi-scale 3D urban models are in high demand among architects, engineers, and construction professionals to achieve these tasks and provide relevant information to decision support systems. Spatial modelling technologies such as Building Information Modelling (BIM) and Geographical Information Systems (GIS) are frequently used to meet such high demands. However, sharing data and information between these two domains is still challenging. At the same time, the semantic or syntactic strategies for inter-communication between BIM and GIS do not fully provide rich semantic and geometric information exchange of BIM into GIS or vice-versa. This research study proposes a novel approach for integrating BIM and GIS using semantic web technologies and Resources Description Framework (RDF) graph databases. The suggested solution's originality and novelty come from combining the advantages of integrating BIM and GIS models into a semantically unified data model using a semantic framework and ontology engineering approaches. The new model will be named Integrated Geospatial Information Model (IGIM). It is constructed through three stages. The first stage requires BIMRDF and GISRDF graphs generation from BIM and GIS datasets. Then graph integration from BIM and GIS semantic models creates IGIMRDF. Lastly, the information from IGIMRDF unified graph is filtered using a graph query language and graph data analytics tools. The linkage between BIMRDF and GISRDF is completed through SPARQL endpoints defined by queries using elements and entity classes with similar or complementary information from properties, relationships, and geometries from an ontology-matching process during model construction. The resulting model (or sub-model) can be managed in a graph database system and used in the backend as a data-tier serving web services feeding a front-tier domain-oriented application. A case study was designed, developed, and tested using the semantic integrated information model for validating the newly proposed solution, architecture, and performance

    Sensing Collectives: Aesthetic and Political Practices Intertwined

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    Are aesthetics and politics really two different things? The book takes a new look at how they intertwine, by turning from theory to practice. Case studies trace how sensory experiences are created and how collective interests are shaped. They investigate how aesthetics and politics are entangled, both in building and disrupting collective orders, in governance and innovation. This ranges from populist rallies and artistic activism over alternative lifestyles and consumer culture to corporate PR and governmental policies. Authors are academics and artists. The result is a new mapping of the intermingling and co-constitution of aesthetics and politics in engagements with collective orders

    Tradition and Innovation in Construction Project Management

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    This book is a reprint of the Special Issue 'Tradition and Innovation in Construction Project Management' that was published in the journal Buildings

    The University of Montana: A History Through the Lens of Physical Culture, PE, Health, Athletics, and Recreation 1897-2019: The Evolution of a Department

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    https://scholarworks.umt.edu/burns/1000/thumbnail.jp

    International Academic Symposium of Social Science 2022

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    This conference proceedings gathers work and research presented at the International Academic Symposium of Social Science 2022 (IASSC2022) held on July 3, 2022, in Kota Bharu, Kelantan, Malaysia. The conference was jointly organized by the Faculty of Information Management of Universiti Teknologi MARA Kelantan Branch, Malaysia; University of Malaya, Malaysia; Universitas Pembangunan Nasional Veteran Jakarta, Indonesia; Universitas Ngudi Waluyo, Indonesia; Camarines Sur Polytechnic Colleges, Philippines; and UCSI University, Malaysia. Featuring experienced keynote speakers from Malaysia, Australia, and England, this proceeding provides an opportunity for researchers, postgraduate students, and industry practitioners to gain knowledge and understanding of advanced topics concerning digital transformations in the perspective of the social sciences and information systems, focusing on issues, challenges, impacts, and theoretical foundations. This conference proceedings will assist in shaping the future of the academy and industry by compiling state-of-the-art works and future trends in the digital transformation of the social sciences and the field of information systems. It is also considered an interactive platform that enables academicians, practitioners and students from various institutions and industries to collaborate
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