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This paper shows the limitation of the cost-of-carry model which is used for pricing the theoretical value of the KTB futures, and proposes an alternative pricing model based on the term structure of interest rates. Under the assumption of 1-factor term structure, this paper treats the theoretical price of KTB futures price as a risk-neutral expectation of payoff function at maturity and derives the approximated formula for pricing the KTB futures. As compared with our price of KTB futures using the term structure of interest rates, the conventional KOFEX price based on the cost-of-carry model tends to be overvalued as the time to maturity increases. This result is due to the difference between the futures and forward prices which is caused by treating the futures contract as the forward contract in the conventional KOFEX pricing model. In particular, this discrepancy becomes more significant when the price of underlying asset and the interest rates are negatively correlated and the time to maturity is longer. The bond futures contract is a typical example of financial instrument whose price has a negative correlation with interest rates

The density and pattern of urban parks, traffic conditions are the main factors affecting urban park accessibility. To clarify the influence of traffic mode and urban road network on urban park accessibility, we examine downtown area of Nanjing, China, and based on GIS network analysis, analyze urban park accessibility under different traffic modes in the current year (2017) and the Nanjing master planning target year (2030). The results shows: Using automobiles takes the shortest time to get to urban parks in 2017 and 2030 (if the problem of parking is ignored). Comparing the results of 2030 and 2017, by when the ground transportation network in the study area will be further improved, urban park accessibility was improved by a small margin under walking and automobile traffic modes, however, the density of rail traits increased fastest, urban park accessibility is improved most under this mode of transportation, rail transit route development becomes the dominant factor in improving park accessibility in downtown area of Nanjing. To a certain extent, this study reveals the leading factors of improving the accessibility of urban parks on the premise that the system of urban parks tends to be stable, and provides a reference for improving urban park accessibility.

During the late Qing Dynasty, Western colonists plundered and divided the land as concession where they consequently built European and American architectures. These architectures, such as concession garden architectures, are a result of relevant cultural exchange. Thus, concession garden architectural culture should be studied. In this study, the historical records of the concession and the concession garden in the late Qing Dynasty and the Republic of China were examined on the basis of the representative architectures of Shanghai and Tianjin in China. The origin, classification, characteristic, and development of the concession garden architecture were regarded as the starting point, and the characteristics of the garden architecture in different regions were discovered. Further insights into the development of conservation concession garden buildings in China and the use of modern landscape architectures were provided, and new perspectives for studies on concession landscape architectures were presented through an in-depth understanding and analysis of concession landscape architectures.

Accounting for seventy five percent of urban housing in Vietnam, street houses refer to a mixed-use housing typology that emerged in the 17th century. Such housing has evolved in response to Vietnam's unique culture and environmental conditions. Residential and commercial functions are integrated in a flexible and expandable manner, creating a variety of compositional possibilities in spatial layouts. In addition, transitional spaces such as courtyards, balconies, loggia, and terraces provide shading, cooling, and ventilation effects throughout the building. As one of the most adaptive and popular urban dwellings, the street house has promoted daily domestic activities and the identities of Vietnamese urban areas. However, such valuable aspects have received less attention in many recent urban developments in Vietnam. As such, the goal of this study is to identify and analyze the unparalleled ingenuity of the street house, particularly focusing on its spatial flexibility and environmental responsiveness. Furthermore, this study is intended to apply analytical investigations to the design of contemporary high-rise housing in Vietnam.

With such purposes, this paper is structured in two sequences. In the first phase, typological characteristics of the street house are studied; a field survey is performed to address the evolutionary transformation of the street house. By studying several precedents in Vietnam, our study focused on understanding the ways in which spaces are manipulated and in which diverse indoor and outdoor spaces are created. In addition, passive environmental systems are studied, meaning systems that are integrated with the spaces in order to control the microclimatic conditions of the house. Next, the morphology of the forms and space components are carefully examined through the contemporary examples of street house models in Vietnam. Especially, the flexible nature of the street house, in terms of spatial composition and expansion, is identified. In the second phase, a transition from the street house to high-rise housing is explored based on the previous analytical studies; compositional logic for arranging internal and external spaces are outlined to generate typological unit plans of street houses. Out of diverse design possibilities, an exemplary high-rise building is proposed to address the notions of spatial flexibility and integrated passive systems that are found in the street house. Ultimately, the proposed design aims to enrich dwelling environments for new high-rise urban communities.

The author develops and extends the asymptotic F- and t-test theory in linear regression models where the regressors could be deterministic trends, unit-root processes, near-unit-root processes, among others. The author considers both the exogenous case where the regressors and the regression error are independent and the endogenous case where they are correlated. In the former case, the author designs a new set of basis functions that are invariant to the parameter estimation uncertainty and uses them to construct a new series long-run variance estimator. The author shows that the F-test version of the Wald statistic and the t-statistic are asymptotically F and t distributed, respectively. In the latter case, the author shows that the asymptotic F and t theory is still possible, but one has to develop it in a pseudo-frequency domain. The F and t approximations are more accurate than the more commonly used chi-squared and normal approximations. The resulting F and t tests are also easy to implement – they can be implemented in exactly the same way as the F and t tests in a classical normal linear regression.

Discusses the 6th ITCRR, its breadth of textile and clothing research activity, plus the encouragement given to workers in this field and its related areas. States that, within the newer research areas under the microscope of the community involved, technical textiles focuses on new, ‘smart’ garments and the initiatives in this field in both the UK and the international community at large. Covers this subject at length.

Conservation of green space is crucial to the sustainable urban development of China. Nanjing is a central city in the Yangtze River Delta cluster in eastern China. Owing to urbanization, the green spaces in this city have been affected significantly in terms of their scale and structure. Assessing such changes can provide a basis for environmental protection measures and sustainable development. Using Landsat remote-sensing image data from 1998 and 2007, we constructed a distribution map of the patches of green spaces in Nanjing, and analyzed and assessed the changes in scale and spatial layout of the green spaces using various landscape metrics including CA, PLAND, PD, MPS, LPI, NP, PD, TE, ED, MPI, and LSI. Coinciding with a sharp increase in urban population, the area of green spaces in Nanjing decreased by 27.06% between 1998 and 2007. The patches of green space increased by 39%, and the average area per patch decreased by about 47.52%. Green space patches were found to be unevenly distributed among the districts of Nanjing. In urban areas, significant numbers of such patches were found primarily in various types of parks, while in suburban areas, they were concentrated mainly in the hilly forestlands. Green spaces exhibited tendencies towards fragmentation, miniaturization, and discretization.

Architecture is considered to be a mirror of societies that reflect the natural environment and social values of its people. The vocabularies oftraditional architecture are used for specific functions to respond to various issues. Mashrabiya, as a wooden window screen in old times, was introduced to cover openings and windows for social and climatic reasonsthat reflectparticular eras in Middle Eastern areas. With modern technology, Mashrabiya has been reintroduced with changes in its design, mechanism, and materials.

This study examined the use of Mashrabiya inhistorical and environmental aspects of architecture in Middle Eastern areas. First, this paper discusses the historical and cultural background, and comparesthe different typologies of Mashrabiya indifferent areas because its shapes differslightly from country to country. The techniques of Mashrabiya in contemporary architectureare then investigated in terms of how it has been adapted in contemporary buildings. Finally, its potential optionsin contemporary buildings are discussed.

This paper focuses on the potential applications of eco-features in Vietnamese traditional folk houses to contemporary high-rise housing. One of the main characteristics of traditional folk houses is that they are designed with a deep understanding of and respect for nature. This type of housing also expresses the way of life of its users, having evolved over generations while adapting to their needs, culture, and environment. Whereas the traditional Vietnamese houses can be an important source in the creation of a Vietnamese architectural identity, the design-with-nature approach and its unique characteristics are, however, scarcely found in the contemporary high-rise housing in Vietnam.

The objective of this research is to investigate the potential applications of eco-features in Vietnamese traditional folk houses to contemporary high-rise urban housing. Initially, this study examines the unique spatial characteristics of the traditional folk houses typical in northern Vietnam. In particular, four houses at the Duong Lam Village in northern Vietnam are reviewed. Some of the ecological design elements are extracted from the spatial composition of the typical Vietnamese folk houses in relation to the local climate conditions and the Vietnamese lifestyle (vernacular culture). Finally, this paper attempts to develop new housing models in urban Vietnam, employing the ecological elements learned from the preceding assessment.

An emergency shelter design as an immediate response to assist people in disaster situations was evaluated in this study. The design experiment concerns the use of recyclable paper tubes and simple construction techniques so that unskilled labor can quickly and readily assemble the shelter where required. The design exercise is a result of a joint effort of a group of architecture students at Inha University with the help of an architect, Shigeru Ban, who is renowned for his innovative work with paper tubes. In the first phase, five different design alternatives for a short term recovery option are proposed and in the second phase, a design was selected and developed on the full scale to demonstrate its design and assembly technique.