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Dissertations / Theses on the topic 'Value center'
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1
Klote, John F. "The Design of a Distribution Center with Value-Added Operations." Thesis, Virginia Tech, 2001. http://hdl.handle.net/10919/32477.
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A distribution center that services value-added operations in addition to its normal operations faces a design problem: How to configure the forward/reserve departments for both of these operations. Analytical models are developed to analyze the tradeoff between floorspace and labor efficiency. Our results indicate that the best distribution center design is dependent on a companyâ s customer demand profile as well as the relative cost of floorspace and labor.Master of Science
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She, Yuling S. M. Massachusetts Institute of Technology. "Redevelopment option value for industrial property." Thesis, Massachusetts Institute of Technology, 2020. https://hdl.handle.net/1721.1/127858.
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Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2020Cataloged from the official PDF of thesis.
Includes bibliographical references.
This paper searches for the property value component due to existence of a redevelopment option. We do an empirical study based on over 6,600 industrial property transactions across United States from 2000 to 2018. This can be seen as a discovery journey of improving the methodology in identifying and evaluating the redevelopment option value embedded in the transaction price of such property traded among investors in the private property market. Starting from simple OLS regression, we observed a reverse causality phenomenon between property sales price and a dummy variable of the intention to redevelop the property, in which the redevelopment flag was associated with lower priced properties. The journey then ended up verifying the improvement in the most advanced methodology that academics on the frontier apply in studying the value of the redevelopment option. This advanced methodology by Buechler et al (2020)1 deploys an empirical analysis strategy using a probit model to develop a redevelopment propensity metric, instead of the dummy variable of redevelopment intention. We apply this methodology to solve the endogeneity problem with the original simple OLS regression, and we find that industrial properties have an average redevelopment probability of 0.22, which generates option value of $5.8/sqft (land), or 19% of the average property price per square foot of land ($30.2/sqft(land)). Comparing our study findings for industrial property with that of the Buechler et al study (2020) which is on all property types, the implication is that on average redevelopment option value tends to be a greater percentage of industrial property value than for the other types of commercial properties. The option value is not necessarily greater in absolute terms, but relative to the value of the property. These results apply on average to all industrial properties, not just to those sold specifically to be redeveloped.
by Yuling She.
S.M. in Real Estate Development
S.M.inRealEstateDevelopment Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate
3
Nishimoto, Keiko. "Value creation over time: the application of IIRC integrated reporting framework to demonstrate the value of MICE business." Kyoto University, 2020. http://hdl.handle.net/2433/259085.
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Tanous, William Brandon. "A benefit-cost analysis of the San Marcos conference center in San Marcos, Texas /." View online, 2007. http://ecommons.txstate.edu/arp/266/.
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Karau, Gordon G. 1978. "Growing value organically : sustainable real estate development and long term value creation in rural communities on the north shore of Oahu, Hawaii." Thesis, Massachusetts Institute of Technology, 2012. http://hdl.handle.net/1721.1/77124.
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Thesis (S.M. in Real Estate Development)--Massachusetts Institute of Technology, Program in Real Estate Development in Conjunction with the Center for Real Estate, 2012.Many illustrations and maps printed landscape. Cataloged from department-submitted PDF version of thesis. This electronic version was submitted and approved by the author's academic department as part of an electronic thesis pilot project. The certified thesis is available in the Institute Archives and Special Collections.
Includes bibliographical references (p. 105-108).
The topics explored in this thesis are first how the value inherent in agriculturally zoned land can be used to support the development of an organic farm and sustainable living demonstration center; and second, whether or not the existence of an organic farm can be considered a high value residential amenity-can access to fresh food, a strong local community, and a lush, bountiful, chemical free environment support 15-20% average yearly growth in real estate values? Or more succinctly, is it possible to 'grow' real estate values organically?
by Gordon Karau.
S.M.in Real Estate Development
6
Zhang, Shane Xue Ying. "Value in design? Features, pricing, and design strategies." Thesis, Massachusetts Institute of Technology, 2020. https://hdl.handle.net/1721.1/129841.
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Thesis: M. Arch. in Real Estate Development, Massachusetts Institute of Technology, Department of Architecture, February, 2020Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, February, 2020
Cataloged from student-submitted thesis.
Includes bibliographical references (page 45).
Where is the value of design? Clients who are using buildings to solve societal economic needs rely heavily on real estate asset valuation models to guide their decision-making process; however, these asset valuation models often oversimplify the asset and only attempts to capture the crudest elements of the building (in most cases, only the square footage of the building is represented). Such crude abstraction of the asset results in the client's over-emphasis on elements that are represented within the valuation model as key value drivers for a project (e.g. the square footage). As a result, architects are often confronted with the challenge of mediating between their design interventions and the client's value-driven design approach. The result of this misalignment of design approaches are suboptimal design and economic outcomes.
As an attempt to address this misalignment, I've investigated twenty internal and external architectural features such as external materiality, internal materiality, column spacing, and the number of building entrances to see whether there are architectural design features that are statically and economically significant in contributing to the value of the building. The intention is to identify elements where consistent financial value can be documented within design practice. There is limited data on design features so I chose to focus on the New York City commercial office market. While this represents a small subset of the entire real estate market, it has allowed the research to derive some key insights from an otherwise extremely opaque market. I documented and investigated twenty design features. Twelve of these architectural features were found to be statistically and economically significant in contributing to pricing differentials relative to their building peers.
These results suggest that there is a significant impact of interior and exterior architectural design interventions that help to create relative value differential for commercial office buildings.
by Shane Xue Ying Zhang.
M. Arch. in Real Estate Development
S.M. in Real Estate Development
M.Arch.inRealEstateDevelopment Massachusetts Institute of Technology, Department of Architecture
S.M.inRealEstateDevelopment Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate
7
Paul, Austin (Austin John), and Stacey Spurr. "Property value impacts of rapid transit accessibility in Boston." Thesis, Massachusetts Institute of Technology, 2016. http://hdl.handle.net/1721.1/106791.
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Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2016.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 131-135).
This thesis evaluates the relationship between rapid rail transit accessibility and investment property values through a series of interviews, literature and report reviews, and a quantitative empirical analysis of over 1,000 investment property sales transactions. Theory tells us that within urban environments, proximity to rail transit generates value that accrues to the real estate owner. Initiatives in various municipalities across the world have attempted to tap into the value created by major projects to help finance infrastructure investment, but there has yet to be one method that is universally applied. Major infrastructure improvements are expensive, time consuming, and challenging to deliver. While there are multiple hurdles to overcome in order to create an expansion or new rail project, finding funding sources is amongst the most difficult. A large focus of the thesis is understanding value creation along rail access nodes in pursuit of evaluating alternative financing sources. We take both a qualitative and quantitative approach to understanding the value creation, including the "announcement effect" prior to actual completion of the infrastructure project. These issues are explored through an examination of the practices in the Boston Metropolitan Region. Specifically, we use a current, in-progress rail expansion, the Green Line Extension (GLX), to investigate the process of delivering a substantial infrastructure project and its impact on real estate value. Such projects have far reaching impacts and effects, so throughout the thesis we broaden the lens and highlight issues, ancillary benefits, and experiences of other cities that have endeavored to undertake similar projects. Among our major quantitative findings, we observe that, within the Northwest Boston Basin (our focus area), having close proximity to operational rail rapid transit stations adds up to $48/SF, or nearly 39%, to property value, holding all else constant as best as data allows (including land use). We find some evidence that the GLX project may ultimately increase property values even more than this, as our study indicates that properties near planned GLX stations appear to have already increased substantially in value relative to otherwise similar properties subsequent to the announcement of specific planned station locations in 2008.
by Austin Paul and Stacey Spurr.
S.M. in Real Estate Development
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Fierro, Peñuela Leonel Felipe. "Flexible spaces : value creation through robotics in multifamily real estate." Thesis, Massachusetts Institute of Technology, 2016. http://hdl.handle.net/1721.1/103454.
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Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2016.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 46-47).
Current demographic patterns suggest that the future will offer denser and more crowded cities globally, leading to smaller and more expensive apartments for those who wish to live in urban environments. The viability of robotic furniture systems to enhance the utility of smaller residential units could alter the landscape of real estate development in urban environments. This thesis examines the feasibility and value generated through robotic systems in real estate.
by Leonel Felipe Fierro Peñuela.
S.M. in Real Estate Development
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Foran, Nicholas(Nicholas Joseph). "Bay Area Walk score premiums : unlocking value through neighborhood trends." Thesis, Massachusetts Institute of Technology, 2017. http://hdl.handle.net/1721.1/113477.
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Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2017Cataloged from PDF version of thesis.
Includes bibliographical references (pages 40-43).
The digital age of real estate provides access to new data and techniques to evaluate properties. Real estate brokerage and technology firms are assembling this data to produce user-friendly scores that serve as powerful metrics to identify real estate trends and evaluate buyer behavior. This paper examines Redfin's "Walk score" that measures a location's walkability to amenities like grocery stores or parks and uses a hedonic pricing model to find the $/square-foot premium for high Walk scores in three communities in the San Francisco Bay Area. The data is composed of residential transactions from 2014 to early 2016 that are analyzed at the neighborhood level and normalized to improve the precision of the hedonic model. This neighborhood lens produces a more robust analysis than the broader data sets used in the majority of prior Walk score research. The results shown in this paper demonstrate that a high Walk score is highly correlated with increased property values in a broad range of communities with diverse socioeconomic characteristics. This study includes a framework for using Walk scores (and several related scores) by discussing the composition of the scores, economic principles underpinning them and the critical assumptions for hedonic regressions using Walk scores. These considerations are critical to assessing the real premium of Walk scores. The paper concludes with an analysis method for investors to use walk scores to identify real estate home-buying trends, find under-valued property and create development programs that leverage and build upon walkability.
by Nicholas Foran.
S.M. in Real Estate Development
S.M.inRealEstateDevelopment Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate
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Thigpen, Andrew(Andrew C. )., and Benjamin Masselink. "Sustainable Value Creation Through Mass Timber Development in North America." Thesis, Massachusetts Institute of Technology, 2020. https://hdl.handle.net/1721.1/129095.
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Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, September, 2020Cataloged from student-submitted PDF of thesis.
Includes bibliographical references (pages 81-87).
Commercial real estate is at a crossroads; continued global population growth will necessitate significant additions to the current building stock, and new commercial space, if delivered using traditional construction methods and materials, will further increase the embodied carbon emissions of the built environment. However, there is an opportunity to mitigate the environmental impact of new development while also increasing value by employing new mass timber technology to meet the growing demand for new buildings. At the same time, approved changes to the 2021 International Building Codes (IBC) and increased investment in new production facilities will improve the scale and usability of mass timber, further reducing costs and environmental impacts. This dynamic presents developers with a unique opportunity to capitalize on changing tides and revolutionize the building industry.
This paper will explore the similarities and differences between mass timber and traditional timber construction before discussing the best ways to leverage mass timber's advantages over traditional steel and concrete building systems and how to apply lessons learned from existing projects to reduce costs in the context of an evolving industry. In order to prove the viability of mass timber, this paper will utilize construction cost analyses from an existing case study that compared mass timber development to traditional cast-in-place concrete development, and it will analyze these total cost estimates on a time-adjusted returns basis. Subsequently, it will analyze consumer and corporate trends based on demographics and sustainability preferences in order to demonstrate the proven willingness of individuals and companies to pay a premium for sustainability.
Based on that demand, it will then utilize leasing and valuation figures from LEED and Energy Star buildings as a basis of analyzing the superior returns mass timber delivers. Finally, a discussion of the current limitations to wide-spread adoption of mass timber will be identified, as well as means for owners to mitigate those limitations and identify the best potential markets for mass timber. With an understanding of the products, market, and existing challenges, this paper concludes with views on how the mass timber industry will evolve to facilitate wider use..
by Andrew Thigpen [and] Benjamin Masselink.
S.M. in Real Estate Development
S.M.inRealEstateDevelopment Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate
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Shah, Kartik (Kartik L. ). "Value of incorporating flexibility in lab buildings : a real options approach." Thesis, Massachusetts Institute of Technology, 2015. http://hdl.handle.net/1721.1/101320.
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Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2015.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 52-53).
This thesis investigates flexibilities in commercial lab buildings with the help of the real options theory. The qualitative component of the thesis explores the development of the lab building as a building typology and its relationship to economic value creation for developers. It also investigates various strategies employed by developers during the design and development of lab buildings to hedge against the downside risk. The quantitative component builds upon that hypothetical lab building development case and creates a Real Options case as a framework for applying and valuing flexibility in this complex building type. Through this demonstration, valuation of flexibility employed in the current practice is derived.
by Kartik Shah.
S.M. in Real Estate Development
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Udayshankar, Siddharth. "Statistical process control (SPC) in a high volume machining center : value of standard operating procedures." Thesis, Massachusetts Institute of Technology, 2015. http://hdl.handle.net/1721.1/101527.
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Thesis: M. Eng. in Manufacturing, Massachusetts Institute of Technology, Department of Mechanical Engineering, 2015.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 84-85).
Statistical process control is implemented in a high volume machining center to reduce scrap and improve the quality of production. New hires are working in a complex production environment with excellent metrology resources that can be used for real time inspection but there is a lack of standard operating procedures to help them use these resources. A methodology for implementation of statistical process control is developed and evaluated by implementing it in a section of the machining center which has the biggest benefit. Gages are evaluated and control charts are established in that section. Operators are trained in the standard operating procedures related to the different components of SPC. The standard operating procedures are developed to be portable such that SPC can be used in various sections of the machining center. Findings include cost saving benefits and scrap rate reduction of approximately 50% can be achieved for the entire machining center by the implementation of statistical process control. A training matrix is developed to train different people of the company on the concepts of SPC. Implementing SPC in a high volume machining center has proved to deliver value in reduction of scrap, quality improvement, ability to react to changes for the new hires and other benefits. Standard operating procedures have made a difference in the quality inspection of parts and in maintaining high quality standards that can make the machining center a world class manufacturer.
by Siddharth Udayshankar.
M. Eng. in Manufacturing
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Hasler, Béatrice S. "Virtual assessment center : a media comparison study on the diagnostic value of online role-play for social competence assessment /." Marburg : Tectum-Verl, 2009. http://d-nb.info/99504774X/04.
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Weil, John Endicott Birdseye. "Value creation through strategic repositioning : a case study of South Bank Tower." Thesis, Massachusetts Institute of Technology, 2018. http://hdl.handle.net/1721.1/117302.
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Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2018.Page 66 blank. Cataloged from PDF version of thesis.
Includes bibliographical references (pages 64-65).
Converting existing office properties into residential units offers an innovative method to unlock additional value for real estate in the Central Business District (CBD) of certain major cities. Today, however, this form of adaptive reuse is not considered to be a distinct product category. It is instead viewed as a collection of one-off instances of success driven by exceptional circumstances and unique donor buildings. This thesis will identify key commonalities to value creation that make the approach both replicable and transferable. The following analysis will demonstrate that successful office to residential conversion is not a unicorn within the built environment, but rather a viable strategy to see and find value where others do not. Although, a number of factors have combined to make adaptive reuse a highly profitable activity, there are three main elements that underpin the equation: demand, design, and flexibility. Firstly, the change in usage is the result of current trends causing a shift in the Highest and Best Use (HBU) for those structures. Further driving the emergence of office to residential conversion is innovation in building designs. Office layouts have evolved over time from traditional forms with individual work spaces into open floorplan arrangements. Simultaneously, residential layouts have moved away from standard designs towards including an interior extra bedroom or den. The key to driving value from a conversion is for the finished product to be perceived by the market as new supply. Finally, the flexibility to change product type and extend the existing structure increases profits beyond normal levels. Increased net square footage acts as a multiplier to increase the value created through residential conversion and design innovation. Adding net square footage typically occurs in three forms: maximization of site coverage, increased efficiency, and incremental floor count. As a result, it is no longer mandatory to demolish the old in order to make way for the new. Converting space from class B office to class A luxury residential offers a method to add incremental value to previously built real estate by leveraging these essential elements.
by John Endicott Birdseye Weil.
S.M. in Real Estate Development
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Bando, Hano Alfredo Keitaro. "The incremental value of smart buildings upon effective rents and transaction prices." Thesis, Massachusetts Institute of Technology, 2018. http://hdl.handle.net/1721.1/117306.
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Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2018.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 58-61).
Smart buildings have grown from an increase in digital technologies that can sense, recognize and verify the experiences of the building and its inhabitants. Nascent literature has identified what it means to be considered smart. Buildings must respond to all three components of systems, performance, and service and has to have the following components: a) Smartness and technology awareness, b) economic and cost efficiency, c) personal and social sensitivity and d) environmental responsiveness. Yet, it is unclear whether these systems have any value to the users or its owners. This thesis studies the economic impact of Smart, Connected and Green buildings upon rents and transaction prices. Using numerous data sources, we identify buildings that offer at least one so-called "smart" amenity and link them with the building's achieved rent and transactions prices as well as to other so-called "innovation" amenities, like greenness and or fiber-lit connectivity. Results documented in this study suggest that buildings that offer a more integral solution (i.e. buildings that are Smart, Connected and Green) have a premium in both rents and transaction prices over similar office products. While products that offer a more disintegrated solution have a smaller premium or even no incremental value premium, with the exception of green only buildings that offers a premium by themselves. This study contributes to the vast literature on real estate innovation but explores particularly the recent commercial office products that are Smart Buildings.
by Alfredo Keitaro Bando Hano.
S.M. in Real Estate Development
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Callahan, Mark F. (Mark Francis). "Using transactional and spatial data to determine drivers of industrial land value." Thesis, Massachusetts Institute of Technology, 2017. http://hdl.handle.net/1721.1/113483.
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Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2017Cataloged from PDF version of thesis.
Includes bibliographical references (pages 74-76).
The value of a given parcel of land is determined by a multitude of factors based on its location and physical characteristics. No two parcels are alike, making direct comparison between parcels and the study of underlying land values difficult. Further, in locations where land is most valuable, there are often existing improvements on the land. In order to determine a land-only value, the value of the existing buildings or infrastructure must be estimated. This leads to the potential for errors and other issues. There has been a great deal of research conducted on land value for specific real estate uses, such as residential or office. However, little research has been conducted on industrial land. This study will focus specifically on industrial land value and the individual factors that drive it. This study analyzes a database of 1,000 transactions in 10 of the largest industrial real estate markets in the United States.
The data set is unique because most of the data points are land only, lessening the impact of appraisal and estimation techniques. Additional variables were added to each data point to account for local land use regulation, as well as spatial location. A regression analysis determined how these variables influenced the underlying land values. From this analysis, the following conclusions emerged: First, land use regulation is a strong driver of industrial land values. Using index values from the Wharton Residential Land Use Regulatory Index (WRLURI), the analysis showed that land values increased when the stringency of land regulation increased. Second, proximity to interstate highways, airports, and the central business district are also significant drivers of industrial land value. Decreased distances to these points of interest resulted in increased land value. Third, industrial land values are also positively influenced by the cumulative income of the surrounding population.
A 1 percent increase in cumulative population income resulted in an approximately 0.47 percent increase in land value. Lastly, physical land features impacted land values intuitively. Flattened, developed sites were much more valuable than raw, undeveloped sites.
by Mark F. Callahan.
S.M. in Real Estate Development
S.M.inRealEstateDevelopment Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate
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Bradley, Ian Duncan. "Reinventing retail properties : adaptive reuse strategies that make sense and create value." Thesis, Massachusetts Institute of Technology, 2020. https://hdl.handle.net/1721.1/129104.
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Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, September, 2020Cataloged from student-submitted PDF of thesis.
Includes bibliographical references (pages 30-31).
There is currently more retail space per capita in the United States than in any other country, especially suburban mall space. Most American malls built throughout the twentieth century were designed to satisfy the American consumer's reliance upon the automobile and were subsequently strategically placed adjacent to major transportation arteries just on the outskirts of then existing communities. At the time of their construction, this was considered an economical strategy, as large swaths of land on the edge of town could be purchased at a significant discount when compared to land with closer proximity to increased population density; however, changes in consumer preference, along with population growth and now COVID-19, have all contributed to the continued downfall of the suburban mall. How will these massive centers, now situated in prime locations, be able to reinvent themselves and add value to the community if the community sees no value in their present use? This thesis seeks to examine this question through a case study analysis of the adaptive reuse of Highland Mall in Austin, TX. Through an intricate public-private partnership agreement, 1.2 million square feet of dying retail was able to be master planned into a thriving mixed-use development. Research material is derived from existing writings and personal interviews with relevant stakeholders. The conclusion this work leads to is that public-private partnerships provide a solution to the capital intensive process of reinventing retail properties.
by Ian Duncan Bradley.
S.M. in Real Estate Development
S.M.inRealEstateDevelopment Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate
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Ayres, Simone Maia Pimenta Martins. "Experiências em Shopping Centers: dimensões e valores." Doctoral thesis, Universidade de Évora, 2018. http://hdl.handle.net/10174/24846.
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A tese objetiva ampliar o conhecimento sobre a construção de experiências e valor do consumidor na perspectiva do marketing, por meio da descrição e da caracterização das experiências de Shopping Center, no contexto de cidades interioranas do Nordeste brasileiro. No primeiro estudo empírico realizado, de abordagem qualitativa, foram entrevistados 50 frequentadores de shopping centers maiores de 18 anos, residentes nas cidades de Juazeiro/BA, Juazeiro do Norte/CE e Petrolina/PE. As respostas foram tratadas de acordo com a Interpretative Phenomenological Analysis – IPA. Os resultados evidenciaram um sistema de categorias de experiências de Shopping Centers, a partir de duas principais categorias supraordenadas “experiência desagradável/desprazerosa” e “experiência agradável/prazerosa”. O segundo estudo, de natureza quantitativa, dedicou-se à configuração das experiências de Shopping Center. Com base nos resultados obtidos, foi realizado um Survey (N=740) e após condução de uma análise fatorial exploratória foi encontrada uma solução interpretável constituída 27 itens agrupados em quatro fatores: distração prazerosa, prestígio afirmativo, estimulação sensorial, e, funcionalidade. A versão final do instrumento, denominada ExVal-SC, apresentou bons indicadores de fidelidade (Alfa de Cronbach global de .810 e dos fatores entre .705 e .905). Uma análise de clusters conduzida seguidamente permitiu a categorização das diferentes experiências em Shopping Centers numa construção “essencial” (tipologia), culturalmente ajustada, com base nos valores percebidos pelos seus frequentadores que é composta por cinco principais grupos de frequentadores de Shopping Centers: entretidos, afirmativos, utilitários e práticos, shopping aversivos e, ambivalentes sensoriais. Após análise comparativa com estudos prévios realizados em diferentes países, os resultados da investigação indicam que nenhuma proposta é similar à ExVal-SC, nem ao agrupamento de frequentadores de Shopping Centers proposto. Considerações finais constatam a importância de incorporar às pesquisas sobre marketing e comportamento do consumidor, questões referentes aos contextos culturais, como forma estabelecer, de forma ajustada, as dimensões e valores relacionados à compreensão da experiência de consumo; Abstract:
The thesis aims to broaden the knowledge about the construction of experiences and consumer value from a marketing perspective, through the description and characterization of Shopping Center experiences, in the context of interior cities in the Northeast of Brazil. In the first empirical study carried out, with a qualitative approach, 50 shopkeepers over 18 years old, living in the cities of Juazeiro/BA, Juazeiro do Norte /CE and Petrolina / PE, were interviewed. Responses were treated according to the Interpretative Phenomenological Analysis - IPA. The results evidenced a system of shopping center experience categories, from two main supraordinated categories: " unpleasant experience" and " pleasant experience". The second study, of a quantitative nature, was devoted to the configuration of Shopping Center experiences. Based on the results obtained, a Survey (N = 740) was performed and after conducting an exploratory factorial analysis an interpretable solution was found consisting of 27 items grouped into four factors: pleasurable distraction, affirmative prestige, sensory stimulation, and, functionality. The final version of the instrument, called ExVal-SC, presented good indicators of fidelity (Cronbach alpha global of .810 and factors between .705 and .905). A cluster analysis conducted later allowed the categorization of the different shopping center experiences in a "essential" construction (typology), culturally adjusted, based on the values perceived by its customers that is composed of five main groups of Shopping Center goers: entertaining, affirmative, utilitarian and practical, shopping aversive and, sensory ambivalent. After comparative analysis with previous studies conducted in different countries, the results of the investigation indicate that no proposal is similar to ExVal-SC, nor to the group of shopkeepers proposed. Final considerations point to the importance of incorporating issues related to cultural contexts into marketing research and consumer behavior, as well as to establish, in an adjusted way, the dimensions and values related to the understanding of the consumer experience.
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Murphy, John E. "Review of the economic value of excess Naval aircraft at the Aerospace Maintenance and Regeneration Center." Thesis, Monterey, Calif. : Springfield, Va. : Naval Postgraduate School ; Available from National Technical Information Service, 1996. http://handle.dtic.mil/100.2/ADA319504.
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Thesis (M.S. in Management) Naval Postgraduate School, September 1996.Thesis advisor(s): William R. Gates, Michael W. Morris. "September 1996." Includes bibliographical references (p. 85-86). Also available online.
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Martinson, Robert J. S. M. Massachusetts Institute of Technology. "A real options analysis of Olympic Village development : how design flexibility adds value." Thesis, Massachusetts Institute of Technology, 2009. http://hdl.handle.net/1721.1/54860.
Full textAbstract:
Thesis (S.M.)--Massachusetts Institute of Technology, Program in Real Estate Development in Conjunction with the Center for Real Estate, 2009.This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Cataloged from student submitted PDF version of thesis.
Includes bibliographical references (p. 72-79).
This thesis applies past research on real options - a right, but not an obligation to take some action on a real asset in the future - to a very specific type of real estate development related to Olympic Village development. The Olympics have been previously criticized for the excessive cost of preparation for the 16 or 17 day event. Chicago, if selected to host the 2016 Summer Games, could be faced with many of the same challenges of past cities. The purpose of this thesis is not to provide the final answer to whether a developer should implement design flexibility into a project like the Chicago Olympic Village, but rather provide a tool for which to analyze the project and areas of uncertainty. Real Options Analysis (ROA) is presented as a set of specific steps that correlate with more commonly used methods of real estate valuation. In order to determine the optimal sources for flexibility, qualitative research identifies challenges and uncertainties of Olympic Village development. This data is reviewed, analyzed and used to illustrate potential sources of flexibility for further analysis. ROA introduces the use of Monte Carlo simulation to better forecast the range of expected outputs and then integrates flexibility at various decision points of the project. The results of this model should allow decision makers for a project to choose the most desired path based on the goals and requirements of the project. It is observed, based on the assumptions used for this analysis, that flexibility "in" and "on" the project does create additional value, however this additional value is partially offset by the cost of the flexibility, if applicable.
(cont.) The results also illustrate the benefits of mitigating the downside risk of a project with the use of a real option. The process could provide alternate results with the use of other assumptions. The analysis of the hypothetical case study also investigates the relationship of two individual real options applied to a project simultaneously. It is determined, through results analysis, that the effect of a real option "on" and a real option "in" are virtually cumulative in achieving additional value for each type of option.
by Robert J. Martinson.
S.M.
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Velazco, Manuel S. M. Massachusetts Institute of Technology. "The T-Space Model : maximizing value and revenue of transit real estate assets." Thesis, Massachusetts Institute of Technology, 2020. https://hdl.handle.net/1721.1/129090.
Full textAbstract:
Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, September, 2020Cataloged from student-submitted PDF of thesis.
Includes bibliographical references (pages 58-59).
We founded T-Space in response to the underutilization of transit stations and the opportunity it presents itself being a high volume, small footprint space with a strong network to residential neighborhoods and employment centers. As a team, we found ourselves asking: Can transit stations be an alternative space for retail service? Can we bring convenience to commuters? Can we add to the neighborhood identity through modernization and wayfinding strategies? Can we help transit agencies improve their real estate source of income? This thesis articulates the T-Space business model developed through MIT's DesignX accelerator program. T-Space, short for Transit Space, is a real estate company focused on modernizing stations and improving the quality of life for commuters. Our mission is to revitalize these untapped assets and incorporate innovative retail technology for convenience. By modernizing transit stations across the United States, we have an opportunity to better connect transit stations to its community while increasing the real estate revenue source for the transit agency. At the same time, retailers can test new markets, while commuters benefit from automation and self-service. In our efforts of developing a business model that works for transit agencies, retailers, and commuters, we hope the success of projects contribute to an increase in ridership.
by Manuel Velazco.
S.M. in Real Estate Development
S.M.inRealEstateDevelopment Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate
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Lee, Junho (Junho Justin), and Jeehyun Oh. "New Songdo City and the value of flexibility : a case study of implementation and analysis of a mega-scale project." Thesis, Massachusetts Institute of Technology, 2008. http://hdl.handle.net/1721.1/58657.
Full textAbstract:
Thesis (S.M. in Real Estate Development)--Massachusetts Institute of Technology, Dept. of Architecture, Center for Real Estate, 2008.This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Includes bibliographical references (p. 74-75).
In the modern real estate industry, mega-scale developments have been a notable feature. The distinctiveness of these projects is that they are enormous in scale and thus require many years to develop. Unlike regular sized projects, they have greater opportunities to alter strategies, plans or designs during the multiple years of development. This provides the developer with alternative options to mitigate potential risks or seize upside opportunities. The "Real options" theory is especially applicable for valuation and decisionmaking of mega-scale real estate development projects. Relying on the dynamic decisions of the developer, for example, the project can proceed, be delayed or be abandoned. Either way, the developer can avoid downside risks and attain a more optimal value for the project. The New Songdo City (NSC) project in South Korea is an archetype of the mega-scale development phenomenon. "New Songdo City" is a massive city development project on 1,415 acres of reclaimed land in Incheon, near Seoul. The project features innovative and valuable aspects that are milestones for the real estate industry. Not only is NSC of megascale and multi-phase, but it is highly international in nature (foreign lead developer and architect, much foreign capital, and aimed at international world-class occupants). It also features imaginative conceptual planning, local and international developer partnership and sophisticated investment and financing techniques. The project highlights the importance of the interaction of local circumstances and other participants, helping to avoid risks and enhance the future values of the project. New Songdo City thus provides an excellent laboratory to explore both the broader strategic and historical development of a Mega-Project and also the applicability of modern, cutting- edge analytical tools for valuing flexibility in project design and implementation.
(cont.) This thesis seeks to explore both of these aspects, including an in-depth review of the history and strategic prospects for the project as well as a specific quantitative model focusing on the value of phasing in the project. The quantitative model is innovative in that, while previous literature has developed classical economics-based real options models of NSC, this is the first application of the "engineering-based approach" advocated by Professor de Neufville and the MIT Engineering Systems Division. This approach allows the model to be more transparent and user-friendly to decision-makers, assisting the valuation of flexibility in the project in a manner more supportive for practitioners.
by Junho Lee and Jeehyun Oh.
S.M.in Real Estate Development
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Featherston, Witt McCall. "Land value taxation as a mechanism to relieve housing supply constraints in Austin, Texas." Thesis, Massachusetts Institute of Technology, 2017. http://hdl.handle.net/1721.1/108896.
Full textAbstract:
Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2017.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 51-54).
Through most of history cities have grown slowly, organically following the contours formed by the intersection of geography and commerce - with occasional guidance from master planners - to create resilient and equitable forms. But the industrial age begat zoning, new forms of taxation, and hastened infrastructure investments, all of which upended centuries of measured and incremental growth. Codified separation of distinct land uses required new methods of real estate taxation and enabled new forms of value creation. Time and cost savings in infrastructure construction facilitated exponential growth in the speed at which a city's form could change. Amidst the quickening morphosis, the city's ability to diligently and thoughtfully create urban forms that maximize equity for all stakeholders has been diminished; bureaucratic barriers to housing production increased costs, and necessitated subsidization in order to create affordable housing. In order to reenergize the city's ability to create an equitable city, we must reexamine our use of land-use regulations, tax policies, and formulate clear ways forward. This thesis first seeks a broad and versatile definition of an equitable city in order to understand the desired end-state of potential interventions. Second, the author explores the formal characteristics of the equitable city, the way current land-use regulations are either facilitating or impeding the creation of that form, and the potential for a better way forward. Third, the author taxonomizes the fiscal tools available to the city which influence the urban form. Lastly, the author looks at the Highland neighborhood of Austin, TX - a marginal neighborhood with recently completed light-rail stops, a regional mall being redeveloped into a mixed-use project anchored by a community college, and building typologies which do not comply with current zoning - and proposes palatable changes to the way real estate is taxed, which will facilitate the creation of a more just, equitable, and sustainable neighborhood.
by Witt McCall Featherston.
S.M. in Real Estate Development
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Lago, Mauricio Maynard do. "O Alinhamento estrat?gico entre o Shopping Center e as empresas nela instaladas: Estudo de Caso do Pontual Shopping Center." Universidade Federal Rural do Rio de Janeiro, 2007. https://tede.ufrrj.br/jspui/handle/tede/994.
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Previous issue date: 2007-07-23The Shopping Centers has shown to be the places of safer purchase and to leisure for the populations of the great centers and the cities of the interior that present one sped up growth. The Prompt Shopping Center, situated in the Round city in return in the State of Rio De Janeiro, opted to a organizacional structure that does not benefit its functioning. The present work considers, through the use of consecrated tools of diagnosis, a model of capable organization to make with that the enterprise fulfills its function, that is to offer a space of chances for the storekeepers in it installed, beyond contributing for the development of a strategy model that if adapte the reality of the sector of the commerce, in particular the Shopping Center. It was used for elaboration of this work, the bibliographical research in sites in the Internet for the theoretical recital of the subject in question, complemented with the field research. Of ownership of the gotten information, it was possible to consider a organizacional structure and a model of management capable to allow the Prompt Shopping Center to identify to which its main problems and at the same time to assist it na elaboration of a viable strategy.
Os Shopping Centers t?m mostrado ser os locais de compra e lazer mais seguros para as popula??es dos grandes centros e das cidades do interior que apresentam um acelerado crescimento. O Pontual Shopping Center, situado na cidade de Volta Redonda no Estado do Rio de Janeiro, optou por uma estrutura organizacional que n?o beneficia o seu funcionamento. O presente trabalho prop?e, atrav?s da utiliza??o de ferramentas consagradas de diagn?stico, um modelo de organiza??o capaz fazer com que o empreendimento cumpra sua fun??o, que ? o de oferecer um espa?o de oportunidades para os lojistas nela instalados, al?m de contribuir para o desenvolvimento de um modelo de estrat?gia que se adapte a realidade do setor do com?rcio, em particular o Shopping Center. Foi utilizada para elabora??o deste trabalho, a pesquisa bibliogr?fica em sites na Internet para a fundamenta??o te?rica do tema em quest?o, complementado com a pesquisa de campo. De posse das informa??es obtidas, foi poss?vel propor uma estrutura organizacional e um modelo de gest?o capaz de permitir ao Pontual Shopping Center identificar quais os seus principais problemas e ao mesmo tempo auxili?-la na elabora??o de uma estrat?gia vi?vel.
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Hasler, Beatrice S. "Virtual assessment center : a media comparison study on the diagnostic value of online role-play for social competence assessment /." [S.l.] : [s.n.], 2009. http://opac.nebis.ch/cgi-bin/showAbstract.pl?u20=9783828899667.
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Tilley, Jason A. "The value of mixing uses: an empirical analysis of mixed-use developments in Boston, MA." Thesis, Massachusetts Institute of Technology, 2016. http://hdl.handle.net/1721.1/106752.
Full textAbstract:
Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2016.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 45-46).
Modem mixed-use development has gained significant popularity since its conceptual introduction in the 1960s. Numerous benefits and risks have been elaborated on throughout the literature, but even today little empirical evidence exists to support these suppositions. Additionally, major data providers to the real estate industry, such as NCREIF, NAREIT, RCA, and CoStar, do not currently provide comprehensive data that identifies mixed-use developments. As such, financial analysis associated with mixed-use developments often segregates the project into its constituent uses and evaluates each use's performance individually, without much consideration, if any, for potential synergies. This study creates a database that allows for evaluation of transaction prices against different use-mixes for Boston, Massachusetts. We analyze this data for a better understanding of how and where premiums exist in this market, and to confirm the overall validity of our approach so that the methodology can be expanded to other markets. With over 2,200 commercial property transactions from Boston, Massachusetts in the database, we conclude the following: First - location matters, and better amenitized neighborhoods (i.e. mixed-use neighborhoods) are well correlated with higher property values. Second - value in mixed-use buildings is likely derived from higher density and/or lease-up speed rather than operational premiums (e.g. higher NOI or lower perceived risk). Third - larger master-planned, mixed-use developments with 3 or more uses tend to be located in less amenitized (i.e. less desirable) locations, and benefits associated with the mix of uses provided is insufficient to completely overcome the negative externalities of the general location. As such, these developments typically under-perform against the general market.
by Jason A. Tilley.
S.M. in Real Estate Development
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WESTERLUND, GUSTAV, and DARIN BABAN. "Creating Value from Last Mile Deliveries to First Mile Recycling : A Case Study of an Urban Consolidation Center." Thesis, KTH, Skolan för industriell teknik och management (ITM), 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-299592.
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This study is a part of the HITS-project at the Integrated Transport Research Lab at KTH. The demand for urban freight transportation has continued to grow during the last decades due to increased urbanization. Road-based freight transport contributes to air pollution, traffic congestion and noise pollution. The dependency of these services and because of their emissions of greenhouse gases there is a need for new sustainable initiatives. To investigate the possibility of consolidating the delivery of parcels and collection of recycling materials, a pilot initiative called Älskade Stad has been implemented in Stockholm. Traditionally, similar initiatives have encountered problems when municipalities have stopped the funding and it has also been difficult to convince companies to cooperate. Therefore, the aim of this study is to investigate what values that are being created from an urban consolidation center (UCC), as these could be seen as incentives for joining. Furthermore, it will identify what value propositions that are being offered for the city and the involved companies and how these companies capture these values. The thesis is conducted as a qualitative case study and uses the business model approach as a conceptual framework. The result from the study shows that four key resources and activities were related to value creation: a smaller truck which increased the filling rates, exemptions received from the municipality, new garage space utilization, and goods and waste flow consolidation. Furthermore, sustainable value propositions are offered to the companies and the city, such as, more attractive streets, higher profitability on trucks, increased publicity, improved work environment and finally green transportation solutions. This has entailed changes to the value capturing for the involved companies. Changes that are related to savings, revenue, and cost streams. The analysis from the study showed that the implementation of an UCC can help the city when facing urbanization challenges, and lead to a cleaner, safer, and more attractive city.Denna studie är en del av HITS-projektet vid Integrated Transport Research Lab vid KTH. Efterfrågan på urbana varutransporter har fortsatt att öka under de senaste årtiondena på grund av en ökad urbanisering. Vägbaserad varutransport bidrar till luftföroreningar, köbildning och ljudföroreningar. Vikten av dess tjänster i kombination med dess stora utsläpp av växthusgaser skapar ett behov av nya hållbara initiativ. För att utforska en lösning som konsoliderar varuleveranser och upphämtning av returmaterial, har en pilotstudie med namnet Älskade Stad genomförts i Stockholm. Historiskt sett har liknande initiativ mött problem när finansiering från offentlig sektor tagit slut och dessutom har det varit svårt att övertyga företag att delta i samarbeten. Därför ämnar denna studie att kartlägga vilka värden som faktiskt skapas med hjälp av en urban samlastningscentral, vilket skulle kunna ses som möjliga incitament. Vidare syftar denna studie till att kartlägga vilka värden som erbjuds för staden samt involverade företag och hur dessa värden fångas av företagen. Denna uppsats är genomförd i form av en kvalitativ fallstudie och använder ett affärsmodellsperspektiv som teoretiskt ramverk. Genom semistrukturerade intervjuer med experter som är involverade i initiativet samt forskare insamlades data. Resultaten från studien påvisar fyra huvudsakliga aktiviteter och resurser kopplat till värdeskapande: en mindre lastbil som ökade fyllnadsgraden, dispenser utdelat från stadsförvaltningen, ny garageanvändning samt godskonsolidering. Utöver detta så uppstår ett hållbart värdeerbjudande till företagen och staden i form av en mer attraktiv gatumiljö, högre lönsamhet på sopbilar, ökad publicitet, förbättrad arbetsmiljö och en grön transportlösning. Detta har medfört förändringar när det gäller företagens värdefångst, förändringar kopplade till besparingar, intäkts- och kostnadsflöden. Analysen från studien visat att en implementering av en urban samlastningscentral kan hjälpa staden att bemöta urbaniseringsutmaningar och bidra till en renare, säkrare och attraktivare stadsmiljö.
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Xing, Guoxu. "An analysis of U.K property funds classified according to U.S styles : core, value-added and opportunistic." Thesis, Massachusetts Institute of Technology, 2009. http://hdl.handle.net/1721.1/54868.
Full textAbstract:
Thesis (S.M.)--Massachusetts Institute of Technology, Program in Real Estate Development in Conjunction with the Center for Real Estate , 2009.This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Cataloged from student submitted PDF version of thesis.
Includes bibliographical references (p. 63).
This analysis explores the feasibility of sorting UK funds into three different styles, which are widely used in the US. In an overview of major factors' impact on the expected risk of a fund, the analysis shows that leverage is by far the most influential factor, followed by the subtype diversification. In a preliminary style-classification, the study uses Loan-to-Value ratio (LTV) as the dominant factor, defining funds with no debt as core, funds with LTV lower than 40% as value-added, and funds with higher than 50% LTV ratios as opportunistic. Then the study makes some adjustments to this classification based on the observation of the funds' attributes other than LTV, and the adjusted classification ends up with 19 core funds, 22 value-added funds and 21 opportunistic funds. After that, three major differences between the UK and US funds are found. First, the core approach represents a smaller portion of the UK funds than the US funds and the opposite is true for the value-added approach. To improve the feasibility of researchers comparing funds within these two countries, the thesis suggests using a fourth style, core-plus. Second, the average LTV for core and value-added approaches is much lower in the UK than in the US. Third, the US opportunistic funds seem to have better performance than their UK counterparts with similar leverage ratio, while future studies would help draw more precise conclusions about the performance comparisons.
by Guoxu Xing.
S.M.
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Ye, Qing S. M. Massachusetts Institute of Technology, and Eric Mo. "Dūshì Huāyuán : using Monte Carlo simulation to value flexibility in a Chinese real estate development project." Thesis, Massachusetts Institute of Technology, 2016. http://hdl.handle.net/1721.1/103448.
Full textAbstract:
Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2016.Cataloged from PDF version of thesis.
Includes bibliographical references (page 65).
Real estate development in China is a fast-paced business. Volatile market conditions have prompted Chinese developers to build and sell quickly in an attempt to mitigate market fluctuation risk, especially when the real estate market is hot. But are they leaving money on the table? We've conducted a rigorous quantitative analysis of Dushi Huayuan-a large-scale residential project in the fictitious city of Gangkou Shi-from the standpoint of its developer Acumen Properties. The thesis takes the form of a traditional business case study: we first crafted the story based on actual events, then built a Monte Carlo simulation model using Excel to test the value of flexibility specifically the value of dividing the project into multiple phases-at Dushi Huayuan, and finally designed three exercises for students to learn not only the technical aspects of modeling, but also the business concepts related to working in the Chinese real estate market. The exercises will walk students through the following: (1) build a simulation process to reflect the crucial exogenous dynamic economic variables that largely determine the project's financial outcome; (2) expand upon this model by introducing phases in the project to understand how this new flexibility can affect expected net present value; and (3) employ the use of a waterfall analysis to examine fairness from an investment perspective between joint venture partners using standard-market terms. Chinese developers-along with most developers worldwide-typically make decisions based on their experiences and intuition but without the use of detailed quantitative analysis. Our thesis ultimately seeks to change generally accepted industry practice by creating a pedagogical tool to help future real estate leaders better understand the advantages of using quantitative methods to inform rational business decisions.
by Qing Ye and Eric Mo.
S.M. in Real Estate Development
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So, Chun Kit (Chun Kit Timothy). "Game theory and real options : analysis of land value and strategic decisions in real estate development." Thesis, Massachusetts Institute of Technology, 2013. http://hdl.handle.net/1721.1/84171.
Full textAbstract:
Thesis (S.M. in Real Estate Development)--Massachusetts Institute of Technology, Program in Real Estate Development in Conjunction with the Center for Real Estate, 2013.This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Cataloged from student-submitted PDF version of thesis.
Includes bibliographical references (pages 82-84).
This thesis investigates the use of the game theory and the real options theory in real estate development at the strategic level, trying empirically to explain different economic observations among different metropolitan cities and different property types. The real options theory provides a rich theoretical framework to analyze investment values in real estate development. It takes the market uncertainty into consideration, while the widely used neoclassical NPV valuation method takes a deterministic approach. A simplified real options valuation model is set up in this thesis to calculate the option premium value of waiting for developers. However, since it is done in a monopolistic setting, the strategic interaction aspect of real estate development will be analyzed using the game theory model. The interaction of the game theory model and the real options model will provide a comprehensive and powerful framework to study the timing strategy of developers. Using data spanning quarterly from 1995 to 2013 among 5 property types (single-family house, apartment, industrial, office, and retail) and 44 MSAs, this thesis analyzes the relationships empirically between the volatility of underlying assets, the land cost ratio, the option premium value, and the timing of development. The aims of the study are twofold. First, the study compares different market characteristics among different MSAs and different property types from the option game theoretic perspective. Second, it analyzes the effect and the use of the game theory and the real options theory in the context of real estate development.
by Chun Kit So ( Timothy So )
S.M.in Real Estate Development
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Hutlová, Kateřina. "Ocenění podniku JAROMÍR HUTLA - BATTERY CENTER s. r. o." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-72219.
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The aim of the thesis is to determine the market value Jaromir Hutla - Battery Centres Ltd. The work is structured in 4 main thematic areas.The first is an overview of basic information about the company and the related strategic analysis, which contains an evaluation of external and internal potential business. By combining findings from both parts of the strategic analysis gives the company forecast of the sales.The second thematic area is concerned with financial analysis, which is to assess the financial health of companies valued in the past and to confirm or refute the assumption of infinite duration company. The third section begins with an analysis and prognosis value of generators on the basis of the financial plan is built. The last thematic area is given alone DCF valuation methods APV and market comparisons, and subsequently drawing the resulting market value of equity
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Hoppe, Erin Jeane. "The Value of a Student and Community Docent Program: A Case Study at the Wexner Center for the Arts." Columbus, Ohio : Ohio State University, 2008. http://rave.ohiolink.edu/etdc/view?acc%5Fnum=osu1213307685.
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Tung, Edward C. (Edward Chenyee). "The drivers of retail performance : the true value of online and in-store sales in an evolving retail industry." Thesis, Massachusetts Institute of Technology, 2018. http://hdl.handle.net/1721.1/120644.
Full textAbstract:
Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2018.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 59-62).
This thesis examines the spatial and operational efficiencies of major US retailers in relation to their physical real estate and e-commerce footprints. The continued rise of e-commerce has altered the dynamics of the retail industry in such a way that has forced retailers to drastically reallocate their resources to stay profitable. One of the biggest questions modern retailers face is how much traditional brick and mortar retail space should be retained as opposed to other resources dedicated to delivered goods, which can include inventory warehouses, distribution centers, fulfillment locations, or simply a strengthened online presence. To shed light on this issue, we conduct a cross-sectional analysis that investigates the leading factors shaping retailer efficiency and effectiveness using performance data from over 120 of the largest retail companies currently operating in the United States. The results show that e-commerce sales, indirect sales, and gross margin have positive correlations to distribution space share, employment efficiency, and spatial efficiency and have negative correlations to total cost share, labor cost share, and space cost share. We also determine that indirect sales and gross margin have no correlation to e-commerce sales and accumulated store square footage. By understanding the drivers behind retailer performance, new insight for the outlooks of both retail and industrial real estate asset classes can be gleaned, which can prove to be beneficial to retailers, landlords, and developers alike.
by Edward C. Tung.
S.M. in Real Estate Development
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Battaglia, Dax C. "An activity-based cost analysis of the Substance Abuse Counseling Center, Marine Corps Base Hawaii." Thesis, Monterey, Calif. : Springfield, Va. : Naval Postgraduate School ; Available from National Technical Information Service, 2003. http://library.nps.navy.mil/uhtbin/hyperion-image/03Mar%5FBattaglia.pdf.
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Myers, Robert A. "Engineering Healthcare Delivery: A Systems Engineering Approach to Improving Trauma Center Nursing Efficacy." Wright State University / OhioLINK, 2016. http://rave.ohiolink.edu/etdc/view?acc_num=wright1482419145222356.
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Pikosz, Alexander, and David Tiberg. "How improved rail infrastructure will affect property values in northern Stockholm. : A study in value capture and the development of public transport in the northern regions of Stockholm." Thesis, KTH, Bygg- och fastighetsekonomi, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-90315.
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This report aims to determine the economical benefits of improved public transport in some of Stockholms northern suburbs that are strategic locations for further urbanization. The correlation between public transport (PT) and property values will be explored. How will the PT scenarios that are suggested here increase the value of real estate in the regional focal points? How can the financial winners by this improvement be prepared to take part in financing the PT solutions? Denna uppsats syftar till att fastställa de ekonomiska fördelarna av förbättrad kollektivtrafik i norra Stockholmsregionen. Det kommer att undersökas i vilken utsträckning det föreligger ett samband mellan tillgänglighet till kollektivtrafik och fastighetsvärden. Hur kan de olika kollektivtrafiklösningarna komma att påverka fastighetsvärdena i de regionala kärnorna? Hur skulle nyttotagarna av en sådan investering kunna vara med att finansiera den?
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STRÖM, CHRISTIAN. "Adapting Value Stream Mapping to Circular Product Flows. : From Manufacturing to Equipment Rental." Thesis, KTH, Skolan för industriell teknik och management (ITM), 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-263156.
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The rise of the sharing economy is forcing industries to move from traditional take-make-waste economy towards circular ones (Schuttelaar & Partners, 2019). Along with the increasing influence of e-commerce, supply-chain collaboration and globalization has increased the pressure of warehouse operations and requires more efficient operations with the use of less resources thanever before (Frazelle, 2016). Lean is a concept that has gained attention as a means of doing morewith less, through reducing wastes and continuously improving, which has been successful within the manufacturing sector. The difficulties of translating this concept into non-repetitive environments has contributed to the low level of adoption within industries like construction. Where companies within construction equipment rental have an even greater challenge, dealing with circular product flows. Thus, making their warehousing operations inherently complex along with the large amounts of different products. The thesis has focused on analysing the warehouse operations flow of collective fall protectionproducts in the equipment rental industry, from customer order to customer return. This has been enabled by performing an adapted Value Stream Mapping method in a new setting for equipmentrental industries. Where Value Stream Mapping traditionally is applied in manufacturing to visually represents the actions that are required for a product to move through the production andinformation flows. The purpose of the study is to apply VSM beyond manufacturing and tosummarize the results in order to provide suggestions for improving the handling of non-serialized products within the equipment rental industry. A case company within the equipment rental industry has been used to meet the purpose of the study by testing and evaluating the proposed frame work. The findings have been followed up by performing a return handling study, conducted by equipment rental professionals, which has been subject to a statistical analysis. The findings from the VSM are used as a foundation for the return handling study, which serves as a means of verifying or dismissing them. These are then summarized in suggestions for improvements to the case company and suggestions for future actions. Among the findings are indications of longer return times for products that are not forewarned prior to returns, and increase processing rates for sorted returns. Furthermore three product types were more frequently requiring repairs, cleaning and scrapping compared to other products, suggesting that these requiremore time to process. The company is advised to work with standardizing processes for return handling throughout the organization within invoicing specifications and product storage. Suggestions for future research within the subject area is also presented.Den ökande utbredningen av delningsekonomi tvingar industrier att gå från traditionella linjära affärsmodeller mot cirkulära (Schuttelaar & Partners, 2019). Utöver denna förändring så ökar även trycket på lagerverksamheter som ett resultat av det ökande inflytandet av e-handel, Supply-Chainsamarbete och globalisering som kräver effektivare verksamheter med användning av mindre resurser än någonsin förut (Frazelle, 2016). Lean är ett koncept som har uppmärksammats som en filosofi för att hantera dessa förändringar, genom att åstadkomma mer med mindre resurser och därmed minska slöseri och att sträva efter ständiga förbättringar, vilket har varit framgångsrikt inom tillverkningssektorn. Svårigheterna med att översätta detta koncept till icke-repetitiva miljöer har bidragit till den begränsade appliceringen av lean inom industrier som byggnadskonstruktion. Där företag inom uthyrning av byggnadsmaskiner och utrustning har en ännu större utmaning, då deras verksamhet bygger på cirkulära produktflöden. Vilket orsakar komplex lagerhantering av många olika produkter i stora mängder. Avhandlingen har fokuserat på att analysera lagerflödet av kollektiva fallskyddsmedel i uthyrningsbranschen, från kundorder till kundreturer. Detta har möjliggjorts genom att utföra en anpassad värdeflödeskartläggning i ett nytt sammanhang, nämligen för företag inom uthyrning av byggnadsmaskiner och utrustning. Där värdeflödeskartläggning vanligtvis används inom tillverkning för att visuellt representera de aktiviteter som krävs för att en produkt ska kunna flytta genom produktions- och informationsflödena. Syftet med studien är att tillämpa värdeflödeskartläggning utanför tillverkningssektorn och att sammanfatta resultaten i form av förslag på förbättringar av hanteringen av icke-serienumrerade produkter inom uthyrningsbranschen. Ett samarbete med ett fallföretag inom uthyrningsindustrin har genomgåtts för att uppfylla syftet med studien. Tillsammans med fallföretaget har det föreslagna ramarbetet testats och utvärderats. Resultaten har följts upp genom att genomföra en returhanteringsstudie, som utförs av verksamma inom lager hanteringen för kollektiva fallskyddsmedel, studiens resultat har sedan varit föremål för en statistisk analys. Upptäckterna från värdeflödeskartläggningen användes som grund för returhanteringsstudien, som agerat medel för att verifiera eller avfärda dem. Dessa har sedan sammanfattas i förslag till förbättringar till fallföretaget och förslag till framtida åtgärder. Bland resultaten finns indikationer på längre hanteringstider för returer som inte är förvarnade innan de blir återlämnade, samt minskade hanteringstider för sorterade returer. Dessutom krävde tre produkttyper ofta reparationer, rengöring och skrotning jämfört med andra produkter, vilket tyder på att dessa produkter är mer tidskrävande vid returer. Företaget rekommenderas att arbeta med standardiseringsprocesser för returhantering i hela organisationen, mer specifikt inom bestämmelser för fakturering och produktlagring. Förslag till framtida forskning inom ämnesområdet presenteras även.
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Tena, Frezewd Lemma. "Energy-Efficient Key/Value Store." Doctoral thesis, Saechsische Landesbibliothek- Staats- und Universitaetsbibliothek Dresden, 2017. http://nbn-resolving.de/urn:nbn:de:bsz:14-qucosa-228586.
Full textAbstract:
Energy conservation is a major concern in todays data centers, which are the 21st century data processing factories, and where large and complex software systems such as distributed data management stores run and serve billions of users. The two main drivers of this major concern are the pollution impact data centers have on the environment due to their waste heat, and the expensive cost data centers incur due to their enormous energy demand. Among the many subsystems of data centers, the storage system is one of the main sources of energy consumption. Among the many types of storage systems, key/value stores happen to be the widely used in the data centers. In this work, I investigate energy saving techniques that enable a consistent hash based key/value store save energy during low activity times, and whenever there is an opportunity to reuse the waste heat of data centers.
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Goldklang, Shaul. "Mass-customization in commercial real estate : how the aviation industry can help us create beautiful buildings that add value." Thesis, Massachusetts Institute of Technology, 2013. http://hdl.handle.net/1721.1/84369.
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Thesis (S.M. in Architecture Studies)--Massachusetts Institute of Technology, Dept. of Architecture; and, Thesis (S.M. in Real Estate Development)--Massachusetts Institute of Technology, Program in Real Estate Development in Conjunction with the Center for Real Estate, 2013.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 140-151).
The term "mass-customization" in the Architecture, Engineering and Construction (AEC) industry refers to architectural elements that have similar purpose but are completely different from each other. Architects use mass-customized elements to give diverse design to different parts of a building. Mass-customization derives from three developments in computational technology: Building Information Modeling (BIM), the implications of programing in graphical representation, and the progress of computer-controlled manufacturing machines. However, the promise held by these technologies has not been fulfilled. While mass-customization is implemented in projects with large budgets, they are rarely employed in mainstream real estate. This thesis examines two multi-family projects: The Project on 8 Spruce Street and the Porter House, both located in Manhattan, to outline the challenges of executing commercial real estate projects that employ mass-customized envelope systems and makes suggestions as to how to overcome them. The thesis then examines the aircraft manufacturing industry, which is proficient in the use of Building Information Modeling and has advanced logistical expertise in transporting large-scale elements. The thesis examines its use of design and assembly processes such as Concurrent Engineering and Lean Manufacturing, and suggests that these techniques can be incorporated into the project delivery methods of the AEC industry. The thesis focuses on the production of fuselage and metallic wing skin panels, distinguishing between fabrication technologies that are used for the manufacturing of single-curved and double-curved panels. The thesis proposes ways in which these processes can be adapted to the standards of the Architecture, Engineering and Construction industry, and suggests that such adaptation could reduce fabrication costs. The thesis concludes by outlining the incentives for the aircraft industry to transition part of its operation into the fabrication of mass-customized envelopes for commercial real estate, pointing to the potential markets for such systems in the growing economies of China, Latin America and India. This thesis attempts to demonstrate the potential of utilizing features of the aircraft manufacturing industry so as to improve cooperation between all parties involved in the process of commercial real estate development and to create more beautiful and valuable buildings.
by Shaul Goldklang.
S.M.in Real Estate Development
S.M.in Architecture Studies
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Phang, Tik Xyan, and 潘迪祥. "Creative Value of The Pier-2 Art Center." Thesis, 2015. http://ndltd.ncl.edu.tw/handle/867mhs.
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碩士國立中山大學
企業管理學系研究所
103
This thesis considered the creativity value of the cultural and creative park can be assessed. After being assessed by many countries and international creative organizations on the framework of this city of creativity, it was found that besides the range of fields on these organizations, their form of stimulated creativities were actually identical. Therefore, the contents of this thesis was based on infrastructure of the city of creativity. By interviewed and site studied , explored what is the value of Pier-2 Art Center in Kaohsiung, the concept of the city’s creativity (Asia''s New Bay Area). Meanwhile, further study also indicated what Pier-2 Art Center represented on cultural and creativity in Kaohsiung. The research showed that: 1. The entire area of Pier-2 Art Center, included the railroad, grass field, resting area, even the bricks and walls were all combined together with art and creativity. Allowing those who were not artistes can also exposed to these atmosphere in an indirectly way. 2. The crowds brought in business opportunities. In order to developed Pier-2 Art Center to a stable economy in both cultural and creative industries, residents, governments and developers should have a certain degree cooperation and support, in terms of the environment, human resources and capital.
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Ting, Kuan-Chih, and 丁冠智. "The Value Strategy of Military Information Sharing and Analysis Center." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/72656295526583194074.
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碩士國防管理學院
國防資訊研究所
96
Information sharing is the new concept brought up by U.S. It presented some kinds of valuable information in preventing information security threats, and also shared by different organizations and institutions. The U.S. government takes the Critical Infrastructure Protection as the current emphasis. Thus, the Information Sharing and Analysis Center (ISAC) in many industries were built for precaution. Information Sharing and Analysis Center is still in an early phase in Taiwan. The Executive Yuan in 2007 authorized the Department of Defense, Ministry of Foreign Affairs, Ministry of Economic Affairs and Ministry of Transportation and Communications to set up Information Sharing and Analysis Center with the pilot program. This research is expected to establish Military Information Sharing and Analysis Center (M-ISAC) in Taiwan, so we should consider the culture and social environment factors involved in the present study. The purpose of this thesis is to make use of the Strategic thinking procedure in planning valuable strategies of Military Information Sharing and Analysis Center, as well as to promote the development of the Information Sharing and Analysis Center. The Department of Defense has both profit-making and non-profit organizations. To make the profit and non-profit organizations of the Department of Defense can share the information, they use Analytic Hierarchy Process (AHP) method by proceeding expert questionnaire to investigate the weight of organizations functional dimensions for the organizations’ features.We introduce Value Engineering theory into information sharing mechanisms to assess the value, profit and non-profit organizations get into the value of information-sharing mechanisms. Finally, we got weight of functions of profit and nonprofit organization from questionnaire which wrote by experts. Then we used the weight to the simulations of information security for assessment and analysis by value engineering in this research. In the result, it indicated that prior imported information sharing mechanisms can reduce 49 percent of loss in profit organizations, and 87 percent of loss in non-profit organizations. By using information sharing mechanism, both profit and non-profit organizations could avoid or reduce the loss caused by information security threats , if they share their information to each other by value of strategic planned by strategic thinking procedure.
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Ya-ChenChen and 陳雅珍. "Value Innovation for Postnatal Nursing Center The Case of Institution C." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/gk36q9.
Full textAbstract:
碩士國立成功大學
高階管理碩士在職專班(EMBA)
106
Summary Abstract With the changes of social environment and economic growth, the public’s expectations and needs for post-natal nursing centers have been rising even though Taiwan has begun to enter the market that families are shrinking as fewer children as being born than in past decades. These nursing centers are considered non-medical institutions, but they are actually centers which have a mix of different specialists together, including maternity specialists, pediatric specialists and nutritionist are related professional medical activities. With different specialties located together in one medical center and the sharing of hospital administrative resource and medical equipment resources, hospitals or clinics can make the entire medical services do well. However, more and more medical facilities fling into this market. In a long run, this makes the difference declined and the business strategy more consistent because of the imitation and benchmarking learning with each other. Consequently, how to find a way of increasing competitive advantages and maintaining market competitiveness will be a vital issue to a company. This study aims to explore the business strategies of value innovation through the study case. Moreover, this study apply “Analytic Hierarchy Process” (AHP) to analyze the ratio by comparing hierarchy of any aspect and indexes of competitive factors to each other two at a time. In order to make the comparisons, the analysis is used to graph strategy canvas. This concludes that there is a current differentiation strategy between general postnatal nursing centers and this study case. Furthermore, the original value curve was redrawn up to create an innovation, which is used to compare the differentiation strategy of general postnatal nursing centers and the recreated the study case. According to the study case and the result of information analysis, the study focus on improving and training of professionals who have more competence and creating the value of new markets of post-natal nursing centers so as to achieve market differentiation. The implementation of a new value curve will not only construct a new value for post-natal nursing centers and customers but also help post-natal nursing centers escape a homogeneous market to gain more profit from a new Blue Ocean. Keywords: Post-natal nursing center;Blue Ocean Strategy;Analytic Hierarchy Process (AHP); Value Innovation
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Hong, Yu-Liang, and 洪毓良. "EMPERICAL RESEARCH OF SERVICE QUALITY,CUSTOMER SATISFICATION AND VALUE BY RESORT CENTER." Thesis, 1998. http://ndltd.ncl.edu.tw/handle/91152763310930764922.
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Lin, Jaan-Yee, and 林展義. "Competitive Posture of Taiwan-Strait Aquatic Products Distributing and Value-Adding Center." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/02461400635530916219.
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Yang, Jiun-Hong, and 楊俊泓. "Value and Technology Evaluation of Integrated Renewable Energy in Mega Data Center." Thesis, 2015. http://ndltd.ncl.edu.tw/handle/65d5x8.
Full textAbstract:
碩士國立臺灣科技大學
電機工程系
104
The development and scale of Data Center have grown due to the rise of Cloud Computing and Internet of Things (IoT), Mega Data Center is the next generation in Data Center, but the characteristics of high energy-consuming industry become more obvious with the expansion in scale, Therefore there is renewable energy build green data center has become the new trend of development. The development concept of future Green Data Center through the idea of integrated renewable energy and micro grid in Could Data Center, as well as building a virtual Mega Data Center park based on this concept. Overall “Value” and “Technology” evaluation on virtual “Mega Data Center Park” will be conducted using the RETScreen clean energy analysis software developed by Natural Resources Canada (NRC) of the Canadian government and the OpenDSS distribution system software developed by the Electric Power Research Institute (EPRI) of the United States. These evaluations “Value” evaluation will evaluate the building cost and benefit of the integration of renewable energy in Mega Data Center while the “Technology” evaluation will evaluate the power system impact of the interconnected electrical system. Finally, Hope these results of study and evaluation methods can serve as a suggested proposal and an example reference of the next generation Mega Data Center in the future.
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Shih, Shu Fang, and 施淑芳. "The Relationships between Customer Value Proposition,Satisfaction and Loyalty:Experience Hospital Cosmetic Center." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/41491450783608086771.
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Chen, Wei, and 陳瑋. "Research of Service Quality, Perceived Value, and Satisfaction in Taipei Sports Center." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/66972540408622047961.
Full textAbstract:
碩士國立體育大學
休閒產業經營學系碩士班
99
This research aims at probing into the relationship of service quality, perceived value and satisfaction. This research devised sport center questionnaires, and use it for this research’s tool. Send out 600 questionnaires altogether, and analysisd 549 qualified program counter storage with SPSS12.0 by statistic analysis including descriptive, t-test, one-way ANOVA, Pearson product-moment correlation. The results indicate the following several conclusions: 1. Based on the questionnaire, mainly male customers utilized the sports center, age between 21 to 30 attending two t or three times weekly and each visit about one to two hours. 2. There are four factors by reliability, empathy, assurance and tangibles, just only assurance reflected among expected quality and perceived quality. 3. Demographic variables including different gender, education background, using time monthly income and occupation were reflected in service quality. Demographic variables including different age, occupation, using style, monthly income and using frequency were non-reflected in service quality. 4. Demographic variables including different gender, age, education background, occupation, using time, using style, monthly income and using frequency were non-reflected in perceived value. 5. Demographic variables including different gender, age, education background, occupation, using time, using style, monthly income and using frequency were non-reflected in satisfaction. 6. There was obviously a relationship with the “service quality, perceived value and satisfaction.”
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Lee, Fu-Chin, and 李復芝. "An Elementary Science Teacher’s Action Research On Trying Science Value Teaching---Integrating Problem Center Double Cycles and Value Clarification." Thesis, 2003. http://ndltd.ncl.edu.tw/handle/48015409954787985094.
Full textAbstract:
碩士國立彰化師範大學
科學教育研究所
91
The purpose of this study was to develop a science value-teaching model including the effect of the model and the difficulties when the model was developing. The strategy of developing the model was by action research through integrating PCDC model and value clarification. An elementary science teacher designed and implemented science teaching toward value orientation in her science classroom of a sixth grade class with 36 students. Data collection focused on qualitative data included interviews, classroom observations, teaching videotaping, students’ assignments, and the researcher’s teaching journals etc. Multiple sources of data, different people’s interpretation, and different analysis methods were used to enhance validity of the study. The results showed that integrating Problem Center Double Cycles (PCDC) and value clarification did work for science value teaching. At the beginning, the teacher tried to find students’ unclear values in science education through analyzing students’ sayings and actions. According to the results of the analysis, the teacher selected a few values in science education that were appropriate for the students and the course of nature science. Then the teacher designed and developed tasks of value-oriented leaning activities to help students clarify these values. In order to prepare and implement the tasks, the teacher need to fully understand the content of instructional materials and curriculum objectives; furthermore, the teacher need to self clarified the values in the curriculum and instructional materials. In implementing, teacher must notice and kept in mind to toward value clarification in guidance, environment, and analysis, which were the other three elements of teaching cycle in PCDC. The more important was to lead and keep the inner value learning cycle by outer value teaching cycle. The difficulties of this action research were implementing the value-oriented learning activities, the difficulties were how to lead the students to involve in the learning activities and learn new skills for the new ways of learning, and the teacher need to change her ways of teaching from traditional ways to the one based on PCDC and value clarification when the plan was conducting. After the one year value-oriented teaching, the results of this study also indicated that the students’ values in science education can change. Finally, the teacher fund that she had a great of progress on several perspectives such as values in science education, and knowledge of pedagogical content and students’ thinking and values.
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Price, Carolyn Jeanne. "Bioeconomic and Biophilic Intersect in Nature Centers - A Case Study of One Nature Center." 2010. http://trace.tennessee.edu/utk_graddiss/906.
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The purposes of this research were 1) to understand what stakeholders in one nature center are "thinking"about the focus of their center and the niche it occupies; 2) to characterize the role of one nature center in its local community; 3) to examine the nature center in terms of established characteristics of a "best" nature center; 4) to compare stakeholder perceptions with perceptions of directors of exemplar nature centers and environmental education organizations; and 5) to characterize visitor and member stakeholder perceptions and motivations in terms of the extrinsic value of ecosystem services, bioeconomics, versus the intrinsic value of nature, biophilia.
This research was conducted utilizing case study methodology with mixed method data collection. Ijams Nature Center visitors and members were surveyed concerning the value of nature; structured interviews were administered to Ijams Nature Center employees, nationally recognized nature center and environmental organization directors.
Visitors‘ perceptions of nature focused on the natural surroundings of the nature center, providing opportunities to watch wild animals, appreciate nature, and feel at peace. Nature center member perceptions of nature reflected the concepts of stewardship and advocacy fostered by the Center‘s conservation mission, education programs, and preservation activities. Participants shared common thematic concepts for the role of nature centers and the characteristics of a best nature center. A best nature center was characterized as a composite of factors, practices, and perspectives that merge to form a business plan reflective of best practice guidelines. Participants highlighted the unique quality of centers and the passion and vision that guides development and the roles played by nature centers in their local communities, as identified in this study, i.e., education, advocacy, and immediacy.
Ijams Nature Center visitors and members valued nature differently in terms of bioeconomics and biophilia, but both groups rated the biophilic value of nature of greater importance, with differing constructs reflective of that value.
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Hu, Ya-Chih, and 胡雅智. "The Value of View: The Case Study of New Taichung City Civic Center." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/fp778g.
Full textAbstract:
碩士國立政治大學
地政學系碩士在職專班
107
View is a subjective and abstract cognitive experience. The value of view is affected by the sensitivity of the viewer, and it reflects different prices in the real estate trading market. With varying architectural patterns, the view and aspect of real estates are particularly important in a city with highly densed high-rise buildings. This study aimed to examine how view influences prices of real estates in the New Taichung City Civic Center area. Using geographic information system (GIS), abstract and subjective visual perceptions were transformed into numerical values to obtain 3D spatial attributes as independent variables in the hedonic price model, which was used to analyze the effects of visual field on real estate prices. Vertical position, aspect, visual field and visible park area were selected as factors for the model to investigate the relationship between real estate price and view. The result shows that good visibility has a positive and significant influence on real estate prices. Specifically, the vertical position and aspect of a dwelling determine the extent of the visual field and what can be seen. However, visual field is not the most important factor that affects the price of real estate. In fact, whether the visual field includes a park or not, and the size of visible park area are the key factors affecting real estate prices. In addition, the aspect matters more on determining the value of view than that of the building floors and the visible area. Moreover, based on the quantile regression analysis, the influence of view varies with different real estate price levels. The high-priced buildings model tends to be affected more by the view variables than the low-priced counterparts do. It indicates that the positional conditions of the high-priced dwellings are often better than those of the low-priced dwellings. The empirical study also proves that buyers of high-priced buildings usually pay attention on the view during the transaction.