bluuebunny/crossref_metadata_2025 huggingface dataset:
Strategic trends in the global cyber conflict
Authors: Baram Gil , Cohen Daniel , Shapira Zeev , Wechsler Omree , Hight Nir , Ben-Israel Isaac
Published: July 2024

The paper reviews the main strategic trends in cyber policy and security in recent years, pointing out the emergence of a new ‘cyber escalation cycle’: while states are investing significant resources to improve their offensive cyber capabilities, these capabilities are subsequently being stolen, publicised and used by hostile countries to launch devastating cyberattacks. This has led governments to pursue legislation to control incoming technology, changing the technological relations between countries. Given the development of enhanced cyber capabilities and the effectiveness of the attacks, we believe that leakage followed by immediate use of the leaked offensive cyber weapons against rival countries will only increase, making this issue even more contentious.
Now is the time to conquer the last mile to full data automation
Authors: Nentwich Christian
Published: July 2024

Innovative new technologies and a desire to update the operating model are paving the way for financial services firms to automate data management across their organisation. This is something that historically has been impossible due to the proliferation of unstructured financial data that legacy technology is unable to handle. The resulting mass adoption of spreadsheets as a workaround created a ‘last mile’ of data processes that firms have been unable to automate. This paper explores the current technology landscape in financial services, the problems this has created for data management and the benefits for firms of using new tools to conquer the ‘last mile’ of automation.
How does influencer marketing on TikTok impact brand trust among generation Z?
Authors: Wright Lauren , Cherry Michael
Published: July 2024

The importance of influencer marketing is increasing constantly, yet little empirical research has explored the success requirements of social media influencers (SMIs). This study investigates the effects of influencer marketing on TikTok on brand trust among generation Z consumers in Ireland, while considering the SMI credibility dimensions of attractiveness, trustworthiness and expertise. The study is based on a quantitative research design, with the data collected through an online questionnaire-based survey. The population of the study consists of generation Z (18–27-year-old) TikTok users living in the Republic of Ireland. Multiple regression analysis was used to measure the impact of the SMI’s attractiveness, trustworthiness and expertise on brand trust. Analysis of the data collected from 401 respondents indicates that these three credibility dimensions have a significant positive impact on brand trust among generation Z consumers in Ireland. The results of the research provide practical implications for brand managers to understand the role of credible SMIs in enhancing brand trust on TikTok when marketing to generation Z. This study contributes to existing influencer marketing literature by investigating the impact of the SMI credibility dimensions on brand trust among generation Z, in the context of TikTok.
Risk in the ground: The legal aspects
Authors: Harris Philip
Published: July 2024

This paper provides a guide and reminder on how risk in ground conditions is dealt with in construction law and building and engineering contracts. It is aimed at contractors and employers under building contracts, and also surveyors, architects and engineers. Lawyers who do not specialise in construction law may find it helpful as an overview.
New opportunities and the valuation of energy assets
Authors: Newton Mark
Published: July 2024

When the Coalition Government came to power in 2010, it was very keen to support the emerging renewable energy market to reduce CO2 emissions to comply with world and European directives. To boost the market, large financial incentives were introduced. These have virtually disappeared, but there are now a large number of energy assets that require specialist valuation work. A new ‘smart’ grid system is being introduced, replacing the old coal and nuclear power stations with a rapidly emerging market in energy storage, using battery and short term operating reserve (STOR) technology. This can supply power into the grid in a fraction of a second and ideally complement the intermittent power from renewable projects.
An analysis of the causes of airfield incursions attributed to ground vehicles
Authors: Young Seth , Vlek Joost
Published: July 2024

In an effort to contribute to the identification and mitigation of safety risks on civil use airfields, this paper investigates the occurrence and probable causes of airfield incursions caused specifically by ground vehicle operations. Such operations were found to be responsible for nearly 20 per cent of all reported airfield incursions at airports within the USA. The research described in this paper investigated more than 2,000 individual airfield ‘vehicle’ incursions, as reported to the US Federal Aviation Administration, in an effort to identify their probable causes. Analysis of the data revealed that such incursions may be the result of four primary root causes: driver distraction, inadequate training, lack of situational awareness, or lack of proper communication. As a result of these findings, the authors suggest the targeted implementation of both improved training programmes and enhanced technologies to improve overall situational awareness while operating ground vehicles on an airfield. Proper implementation of technology and enhanced training programmes may be found to reduce these vehicle incursions and thus lead to improved airfield operational safety.
Compliance with the owned entity and independent account controller exemptions under CFTC Rule 150.4
Authors: Jackson Carolyn
Published: July 2024

On 14th August, 2017, the Division of Market Oversight (DMO) at the Commodity Futures Trading Commission (the CFTC or Commission) issued time-limited no-action relief in the form of No-Action Letter (NAL) 17-37 (10th August, 2010) to delay until at least 12th August, 2019 compliance with the newly created obligation that a notice of exemption be filed with the CFTC prior to a market participant’s reliance on certain exemptions from the aggregation obligations for the purposes of speculative position limits under CFTC Rule 150.4. This paper discusses manners in which participants in light of NAL 17-37 may comply with CFTC Rule 150.4 and clarifies the distinction between the exemption for owned entities (Owned Entity Exemption) and the one for independent account controllers (IAC Exemption).
Equity valuation: The effect of market share dynamics on the value of multiple product lines
Authors: Stojanovic Srdjan
Published: July 2024

This paper discusses methodological aspects of equity valuation (stock pricing) in the context of continuous-time finance. The special emphasis of this study is to provide a framework and explicit formulas for the balance-sheet itemisation of the product line contributions to the welfare of the firm, and, in particular, the effect of product market share dynamics on the value of the product line, and on the value of the whole firm. The results were derived in the context of the general analytic theory of pricing and hedging of financial contracts in diffusive incomplete markets, and its applications in quantitative equity, both developed by the author in a series of previous works.
Brand success in an era of digital Darwinism
Authors: Bughin Jacques
Published: July 2024

Although the internet has been in existence for over 20 years, there is still little known about how digitisation affects the brand choices made by customers. This paper reports on analysis of more than 20,000 purchase journeys by European customers, to demonstrate how customer behaviours during the purchase process are increasingly becoming digital and how those digital touch points, from searching online to leveraging fans’ comments on brands to browsing a company's website, lead to brand selection and branded word of mouth in favour of digital savvy brands. The results confirm what some have suspected, but the paper highlights that these results are relatively strong across all sectors; indeed in some cases (eg in high tech), the effect is disproportionate, leading to an increased concentration of brand sales and brand equity for digital savvy brands. The paper sets out six actions for companies to engage better in this digital Darwinism.
Security profiling of airport employees: Complying with the rules
Authors: Kirschenbaum Alan (Avi) , Rapaport Carmit , Lubasz Sharon , Mariani Michele , Van Gulijk Coen , Andriessen Hinke
Published: July 2024

Recent evidence has shown that airport security decisions frequently fail to follow rules and procedures. Investigating this phenomenon through an analysis of data garnered from ethnographic and field surveys of European airports suggests that propensity to bend or ignore the rules can be associated with three distinct airport employee types, namely the ‘adaptive’, ‘social interactive’ and ‘compliant bureaucratic’. Each employee security profile is characterised in terms of the degree of rule compliance. ‘Adaptive’ employees are likely to bend rules. ‘Social interactive’ rely primarily on group decision making, and ‘compliant bureaucratic’ are allied with the administrative and security regulations. These findings should alert security officials to the possibility of leveraging such employee profiles in terms of human resource recruitment and physical distribution within the airport organisation to take advantage of specific requirements in the operation of the airport.
Japan's PrivacyMark system as a good illustration of certification mechanisms
Authors: Horibe Masao
Published: July 2024

Privacy and data protection certification mechanisms have increasingly been attracting great interest. Japan was one of the first countries in the world to introduce privacy and data protection certification mechanisms and privacy and data protection seals and marks. At the prefectural level, this began in 1990, and at the national level, in 1998. JIPDEC (then the Japan Information Processing and Development Corporation) launched the PrivacyMark system in April 1998. Applications from private enterprises are assessed by JIPDEC or one of 19 designated assessment bodies. There were 1,380 registered assessors (391 lead assessors, 282 assessors and 707 provisional assessors) as at 1st April, 2022. There are three assessor training bodies. The number of registered entities has been increasing year by year, and as at 10th May, 2023, the number of PrivacyMark Entities is 17,447.
Building brand engagement through Twitter marketing strategies
Authors: Mishra Karen , Mishra Aneil
Published: July 2024

Social media represent a fast and easy way for global brands to interact and engage with consumers, and draw attention to their corporate social responsibility (CSR) efforts. This study finds that brands do use social media to share their CSR efforts, but not as extensively as they might. Instead, brands focus on sharing information about products and to build community. Finally, brands are not maximising customer engagement by increasing the number of followers that they follow back. There is much potential for global brands to increase their reach through their Twitter accounts.
Avoidance and diagnosis of problems associated with internal wall insulation
Authors: Smith Matthew
Published: July 2024

Improving energy efficiency and comfort of traditional buildings affects how moisture moves through the building fabric. Internally insulating solid masonry walls can have a hugely positive impact on comfort, but doing so without regard for this relationship can lead to undesirable consequences, including trapped moisture and mould growth. A well-designed specification informed by a good understanding of the building and its context will preclude any unintended consequences.
Envisaging an energy-efficient Europe: Implications for the real estate sector following the adoption of the Energy Efficiency Directive
Authors: Quaid Olivia , Sheridan Paul , Heighton Mark
Published: July 2024

As many readers will be aware there is an increasing amount of law imposing requirements in respect of the energy performance and efficiency of buildings both at domestic and European Union level. This paper considers some of the European Union's stated commitments prior to considering the content and the implications arising out of one of the European Union's most recent measures, Directive 2012/27/EU of the European Parliament and of the Council on energy efficiency, which is known as the Energy Efficiency Directive (hereafter, the Directive).
Finance is directly related to the environment
Authors: Gregory Odette
Published: July 2024

The balance sheet can be used as a vehicle to adapt financial institutions to a future carbon-decreased economy. Aligning assets and liabilities with the business relationship network gives firms insight into how they impact and contribute to the environment.
Digital transformation at media archives: Ten steps to becoming digital by design
Authors: Müller Jan
Published: July 2024

The National Film and Sound Archive of Australia (NFSA) has embraced digital — building collections and enabling access to them for use and reuse, and integrating digital experiences into its events and exhibitions. Digital transformation at the NFSA is not so much about transformation from analogue to digital; rather, it is about evolution from a first generation, hybrid analogue/digital film archive to an archive that is digital by design. ‘Analogue’ and ‘digital’ are not mutually exclusive or opposing forces. The NFSA’s physical collections, the onsite and online exhibitions, programmes, events and even the building are an integral part of the NFSA’s digitisation process. By making its archive ‘digital by design’, the NFSA’s intention is to think, act and be digital first — for digital experiences to be an intrinsic part of the life of the archive and the people who learn, experience and create with it. This article shares the principles behind becoming digital by design and the steps that the NFSA is taking to realise this digital transformation. The article also discusses the importance of people and culture, in addition to the structure of the organisation.
Meanwhile structures
Authors: De Rijke Alex , Morgan Sadie
Published: July 2024

The interconnection of building value, site development value, evolving social need and building obsolescence determine the degree of temporariness of all structures. Everyone is familiar with the spectacle of abandoned sites awaiting future development. Proactive local authorities such as Newham, seeking social benefit and ways to encourage investment, are looking for ‘meanwhile structures’ as catalysts for urban regeneration. This paper explores types of meanwhile structures through historical reference and dRMM project examples. The authors demonstrate how design for the short term can practically, financially and culturally contribute to a society in a global financial crisis regeneration process.
Strategic technology risk: Core systems replacement
Authors: Mcconnell Patrick , Walker Martin
Published: July 2024

Following a number of recent information technology (IT) outages affecting the provision of key services to customers, UK regulators have become worried about the ‘resilience’ of banks’ IT systems environments. Over time, banks develop, purchase and maintain, sometimes, many hundreds of ‘sub-systems’, which, when combined, provide the full range of services to their customers. Any disruption of the most important (or ‘core’) systems will invariably cause serious inconvenience to customers and often require remediation actions to resolve customers’ losses. Because of their sheer size and the complexity of the many internal and external interactions, however, replacing core systems takes many years and is very risky. Because of the enormous risks involved, any decision to undertake a major core systems replacement (CSR) programme must be taken by the board of a firm as part of the firm’s overall technology strategy. This paper discusses the problems of CSR through drawing lessons from three case studies that illustrate the complex risks that can be encountered by boards making such strategic decisions. The paper finally proposes a framework for managing the risks of a CSR programme.
How to develop an integrated approach to designing, building and managing facilities
Authors: Besetzny Linda
Published: July 2024

This paper provides guidance on how to develop an integrated approach to designing, building and managing facilities in the current business environment. It shows why facility managers need a seat at the table and provides tips on how to work with all the different trades involved in the process to earn that seat. In terms of real estate decision making, taking the case of R.J. O’Brien & Associates as an example, this paper weighs the pros and cons of renovating versus relocating and the importance of employee experience, including neurodiversity.
EU: ‘Operational risk’ and the legal landscape
Authors: Gray Joanna
Published: July 2024

This short piece considers the relationship between the disciplines of operational risk management and law. It argues that a better understanding of this relationship is key to both risk managers and to legal actors as risk-based regulatory standards and rules feature increasingly prominently in international and EU standards that affect the operating environment for financial institutions and national laws that implement these standards. Taking the UK as an example, the paper considers the context of how ‘operational risk’ has featured in notable judicial decisions. It argues that given the emphasis laid on operational risk by Basel II, and indeed sound legal and governance systems more generally, it will behove professional risk managers to watch legal developments closely.
Medication cost sharing in low-income elders with chronic disease co-morbidities: Policy implication of PPACA provisions for dual eligibles and parallel systems at national health services
Authors: Mantravadi S.
Published: July 2024

The implementation of the Patient Protection and Affordable Care Act (PPACA) is aimed at addressing patient safety, quality and insurance coverage for patients with co-morbidities in the United States. Chronic disease patients with both Medicare and Medicaid coverage, however, are further impacted, especially for prescription drug coverage. Additionally, the healthcare reform act entails specific provisions that only affect coverage benefits for low-income elders with chronic disease eligible for both Medicare and Medicaid insurance (dual eligibles). This paper will review the impacts on dual eligible beneficiaries prescription drug cost sharing, Part D plan optimisation and Medicare Advantage premiums. It will focus on the impacts of reducing the Part D doughnut hole and prescription drug cost sharing on patients having additional chronic disease co-morbidities, with reference to healthcare management theory of insurance. This paper will also analyse impacts that affect beneficiary quality of care and access. Dual eligible care for chronic disease patients will be summarised in the context of health insurance and management/economic theory. The PPACA provisions concerning dual eligibles Part D cost sharing align with the theory of demand for health insurance and health care. For dual eligibles with chronic disease, reduced medication cost sharing will increase medication adherence and reduce inpatient expenditures with reference to insurance theory.
Developing BBVA's vision for its headquarters building into a successful project by Hill International (Spain)
Authors: Murphy Martin
Published: July 2024

Following a number of acquisitions, major Spanish financial institution Banco Bilbao Vizcaya Argentaria (BBVA) was faced with the need to increase efficiency, forge closer collaboration among colleagues and departments, and shift from the traditional way in which the organisation worked. This was accomplished by launching the construction of the bank's new headquarters in Madrid, Spain. The design of the project was undertaken by the Swiss firm Herzog & de Meuron with project management by Hill International. With a budget of around €500m, a build area of 250,000m2 in a 96,000m2 plot, and an occupation capacity of 6,000 employees, the project was developed in two phases — which are briefly described in this paper — during a period of about seven years. This case study highlights, among other elements, that good planning, a good client brief and rigorous procurement are the ingredients for a successful project. A set of observations related to risk control and damage limitation from the point of view of the project manager is also outlined.
Restoring trust and rebuilding reputation: The critical roles of corporate purpose, earned media and the new CEO mandate
Authors: Weber Larry
Published: July 2024

Global studies underscore how the world is filled with uncertainty and people are in search of truths. Globally, trust is stagnating; in the USA, it has collapsed altogether. The corporate reputation bubble has burst, and with it, people’s trust that organisations will do the right thing. The flipside of these issues is an opportunity for companies to take action to restore trust and enhance reputation. At the top of the list is strong corporate purpose — the new business imperative that is quickly becoming today’s clarion call. Unlike traditional corporate social responsibility, a moral purpose should reflect a company’s DNA, serving as a natural extension of its business, addressing a societal problem like climate change or world hunger. Another area involves a renewed focus on earned media. Society is now looking to experts like trusted journalists as sources of credible information; companies must continue to cultivate relationships with them in order to tell their stories through respected media channels. There is also a new expectation for chief executives, who now must play the role of chief values officer and demonstrate activism for relevant causes to enhance reputation. This paper gives insights into how to restore trust and enhance reputation.
Changing the rules of the game: How can law enforcement deter criminals by increasing the risks of conducting cybercrime?
Authors: Amann Philipp , Klayn Aglika , Mounier Grégory
Published: July 2024

This paper provides an overview of the service-based underground industry that fuels cybercrime, turning it into a growth business in terms of scope and volume of attacks, number of victims and economic damage. It argues for a networked, intelligence-led, adaptive and proactive response, looking specifically at the role of law enforcement. Prioritised and coordinated joint actions against the key cyber threats supported by adequate legislation can change the rules of the game by increasing the risks for cybercriminals and imposing real consequences. Effective prevention and disruption activities can further tip the scales to the detriment of criminals. The multistakeholder model used by Europol’s European Cybercrime Centre is presented as an example of how this can be put in practice, including some examples of international operations that leverage the power of the network.
Energy efficiency of buildings: The business case
Authors: Lown Mat
Published: July 2024

Energy efficiency as a concept came to the fore in response to the oil crises of the 1970s. Energy demand reduction is essential as native energy supplies dwindle, to improve energy security and to meet carbon emissions targets. Globally, it is estimated that 30 to 40 per cent of energy is consumed in buildings and, therefore, it is vitally important that improvements are made to the energy performance of the built environment. Consequently, energy efficiency is an area of focus for both EU and UK policy and regulation. Furthermore, owners and occupiers are increasingly demanding more efficient buildings. This paper explores the business case considerations, summarises relevant policy and regulation; outlines market drivers and includes a case study.
Regeneration in the north of England: One step forward, two steps back
Authors: Joyce P. A.
Published: July 2024

A combination of a protracted economic downturn and changes to the national government in England has had a detrimental impact on the progress made in regenerating urban areas and creating sustainable communities in the north of England. Over the last 10–15 years, the public sector has played a leading role in urban regeneration. During this period, local authorities had access to a range of funds (albeit time limited), but these have been severely cut, and local government is currently struggling to continue major regeneration projects. When eventually there is an economic recovery, it is unlikely that local authorities will have the capacity and capability to respond to the challenge and any new regeneration opportunities. The devolution of power to local people (localism) advocated by the national government in England does not make up for the diminishing resources available to local government. Substantial progress has been made in the last decade or so in tackling deprivation and revitalising urban areas in northern England, but this takes time. The eagerness of the Coalition Government to abolish regeneration bodies without putting in place succession/transition plans leaves the north of England with a potential legacy of socio-economic dislocation and environmental blight in the urban areas for years to come.
Reconceptualising everyday public spaces: An alternative approach in the design of market spaces
Authors: Rajaram Aarthi , Jagadisan Sharmila
Published: July 2024

Public spaces play a variety of roles in cities in everyday life and contribute to people’s health, happiness and well-being. People make places and they live on memories, emotions and values by interacting with a particular place and locality. Successful public spaces require diversity, activities, and to be closely linked to the physical setting (milieu) to enable and boost different types of activities and functions. This study attempts to explore the socio-spatial dynamics in everyday public spaces with a primary focus on understanding the evolution and pattern of development of market spaces. This paper looks at the case of the Krishna Rajendra (KR) market in Bengaluru, which is one of the oldest markets located in the city’s centre. The market, due to the expansion of the city, has grown into an unorganised and chaotic space. This research aims to understand the unorganised development of the KR market space and its impact on the people and existing urban fabric through a series of surveys and documentation. It also proposes policies to provide a new paradigm for shopping.
Innovation in a zero-risk environment: Facial recognition experiment at Helsinki Airport
Authors: Duman Tugberk
Published: July 2024

This paper sets out a strategic template for innovating in zero-risk environments such as modern airports. For the purpose of the paper, a zero-risk environment is defined as one where damage, disruption or systemic failure can result in irreversible consequences. The paper starts by outlining a facial recognition experiment conducted by Finavia, Finnair and digital engineering and innovation consultancy Futurice at Helsinki Airport during 2017. It explores whether the widespread introduction of biometrics can speed up the passage of consumers through airports, thus heading off a predicted capacity crunch at major hubs. It then uses the experience and outcomes of the Helsinki experiment to address the broader innovation theme, making reference to other technological advances in the sector. While it is tempting for airports to focus on biometrics as an efficiency tool, a key line of argument in the paper is the need to focus on customer experience and ensure employee buy-in when trialling innovations in high-risk environments. With customer experience likely to become a key differentiator for airports and airlines, it advocates a machine+human approach as opposed to a machine versus human approach. At the same time, it discusses the advantages of keeping the experiment phase lean and avoiding operational integration. The Helsinki experiment highlighted the potential for using off-the-shelf technology and developing a mobile-centric experience. This has positive implications in terms of the cost of hardware investment. While focusing on the importance of customer experience, the paper acknowledges that the airline industry places a strong emphasis on proving return-on-investment. As a result, it advocates the development of an innovation business case to help champions within the company argue the case for implementation and integration.
Turin: Urban regeneration in a post-industrial city
Authors: Governa Francesca , Rossignolo Cristiana , Saccomani Silvia
Published: July 2024

This paper addresses the issue of urban regeneration with reference to Turin, the Italian prototypical one-company town, but also the post-industrial city, the city questing for a new identity and a new growth model. The objective of the paper is twofold. The first aim is to describe the change in urban regeneration policies in Italy; the second is to discuss the difficulties and opportunities of urban regeneration practices. Mainly referring to Turin's experience, the reflection on positive and critical aspects also provides some useful suggestions to practitioners across Europe and even North America.
How Toronto Pearson International Airport applied lessons from SARS to develop a pandemic response plan
Authors: Johanis Deane
Published: July 2024

When severe acute respiratory syndrome (SARS) arrived in Canada, the nation's largest airport was caught in a major crisis while public health and emergency officials worked to limit the spread of the disease. World Health Organization travel advisories recommended limiting or postponing travel to Toronto due to concerns regarding local control over the outbreaks. Toronto Pearson International Airport worked with its extended community towards the development of local emergency and continuity strategies reflective of the quickly-evolving multi-jurisdictional requirements. These strategies were developed and implemented through two consecutive waves of outbreaks over the spring and summer of 2003. The experience had a lasting effect on the airport and its related communities in terms of the evolution of its emergency and continuity programmes. Between late 2003 and 2006, a number of reviews, public commissions and enquiries delivered their findings and recommendations. The combined effect was a permanent change in the landscape within which Canadian transportation, public health, emergency response and management operate. But are the changes enough to be ready for the next possible major emergency such as a pandemic?
Assessing and mitigating risk in airport greenfield and redevelopment programmes
Authors: Steinle Michael J.
Published: July 2024

Security risk assessments at airports are an important practice to identify and mitigate threats of concern. Increasingly, airport risk assessments are evolving in three ways. First, conducting design-basis risk assessments — prior to new construction or redevelopment — provides value in identifying and mitigating risks during the design phase, where mitigation costs are significantly less than post-construction retro-fitting. Secondly, new threats emerge periodically, such as cybersecurity, insider threats and drones, which require creative mitigation measures. Thirdly, airports are finding value in addressing risks from an ‘all-hazards' standpoint — natural hazards, climate change, ageing infrastructure, technology resilience and human factors. This paper examines risk assessment processes, differences between existing facility and design-basis risk assessments, and processes and challenges associated with all-hazards risk assessment and mitigation.
People risk: Where are the boundaries?
Authors: Mcconnell Patrick
Published: July 2024

Spurred into action by several well-publicised losses in the financial sector, such as the collapse of the venerable Barings bank in the UK, banking regulators have begun to develop rules for quantifying, managing and disclosing operational risks. The Basel Committee, the world's senior banking regulator, has identified four categories of operational risk, namely, processes, people, systems and external events. This paper addresses the ‘people’ category. Despite the fact that, under the new regulations, capital must be assigned to cover ‘people’ risks, the boundaries of this particular risk are not well defined. Without a clear definition of this (or for that matter any other) risk, a firm's risk managers, and the boards that they report to, will not know whether such risks are being managed adequately. This paper develops a framework for analysing people risk and concludes that the scope of such risks cannot be managed solely by specialist operational risk management functions. Because of the sheer breadth of people risk, operational risk managers must reach out to other disciplines to properly understand its scope and to develop common approaches to its management.
Innovative methods for financing urban development: The European Union contribution
Authors: Turró Mateu , Carbonaro Gianni , Field Brian
Published: July 2024

The financing of projects in the context of urban renewal and regeneration has specificities that partly explain the progressive development of a common European urban policy agenda based on the pursuit of development of more 'sustainable cities and communities'. The paper briefly describes the recent evolution of European Union (EU) urban policy and the incorporation of integrated urban development as a priority for Structural Funds support in the 2007–2013 programming period. Although some restrictions remain, most notably with regard to housing, the fact that urban policy is now part of the mainstream of EU structural policy is one of the major changes in the new financial perspectives. A second major change is the incentive to use non-conventional financial mechanisms to fund EU programmes, aimed at putting into practice the sustainable communities idea. Joint European Support for Sustainable Development in City Areas (JESSICA) is presented as a financial engineering instrument designed not only to stimulate more innovative solutions to addressing urban problems, but also to contribute to significant leverage in the amounts of public and private funds necessary to respond to the challenge of giving new life to European towns and cities.
Balancing commercial return with passenger experience
Authors: Farmer Peter
Published: July 2024

As the aviation industry recovers from the COVID-19 pandemic, airports need to diversify income streams to generate commercial return, with on-site retail, leisure, food and beverage (F&B) and other non-aeronautical activities becoming vital to the operator’s bottom line. This paper argues that in an age of virtual transaction, operators need to provide an immersive commercial experience within terminals to drive up footfall, dwell time and spend. It also discusses how airports first need to engage their target audience virtually, making the initial connection via online platforms, then deliver on that promise in the physical world to strengthen and deepen the passenger relationship.
The European Commission’s recommendation for simplified procedures for claiming cross-border withholding tax relief
Authors: Wezenbeek Rogier
Published: July 2024

On 19th October, 2009, the European Commission adopted a Recommendation outlining how EU Member States could make it easier for investors resident in one EU Member State to claim entitlements to relief from withholding tax on securities income (mainly dividends and interest) received from another Member State. The Recommendation also suggests measures to eliminate tax barriers to the securities investment activities of financial institutions, while at the same time protecting tax revenues against errors or fraud. The Recommendation provides guidance on how to ensure that procedures to verify entitlement to tax relief do not hinder the functioning of the Single Market.
How payment factories improve liquidity management through centralised control and visibility
Authors: Cobben Hans
Published: July 2024

Simply put, a payment factory is a critical element in a company's cash management and liquidity strategy. Many corporations manage payables processes, payments and banking relationships at the subsidiary or business unit level. While this method offers flexibility, it can also result in increased transaction costs, poor visibility, higher cost of ownership, increased fraud and the lack of standardisation as each locality supports a fragmented view of cash. Driven by tighter regulations and the need for better cash management, corporations are more focused on expanding insight into their cash positions and forecasts. Payment factories allow organisations to realise company-wide centralisation of payment processing connectivity with local subsidiaries, allowing payment capture and processing, account statement retrieval and reconciliation within a single centralised solution.
Airport security threats and strategic options for mitigation
Authors: Menzel David , Hesterman Jennifer
Published: July 2024

This paper provides an overview of the security challenges and responses faced by airports. The number of air passengers is doubling every 15 years just as security dangers multiply across the world. Technology is enabling massive advances in security, but there are other elements that should be embraced — from exploring the power of human intuition to the lessons learnt by the military through the adoption of concentric rings of security and the very real dangers from insider threats. Cybersecurity is also an increasing and potentially catastrophic risk which, along with other emerging threats, needs to be addressed with greater creativity and imagination. Much is being done to deal with the risk — not least with industry programmes such as Fast Travel, Smart Security and now the International Air Transport Association’s (IATA) and Airports Council International’s (ACI) latest initiative, NEXTT (New Experience in Travel and Technologies) — but the message from every key organisation is that the industry must do more, particularly when it comes to political will and a readiness to share experiences and best practice.
Do not leave your brand to chance: Plan your crisis communications now
Authors: Cruz Lisa
Published: July 2024

The world has reached a place where everyone is a media expert (because they possess a smart device), and crisis is part of the daily fabric of our lives. Considering that we see crises often, both personally and from an organisational perspective, we need to recondition ourselves and make a fundamental shift to a stance of preparedness and be ready to tackle it head on, just as we would any organisational issue presented before us. Crisis is no longer the ‘thing that happens to the other guy’. Preparing a solid foundation for crisis communication will give organisations a clear and effective roadmap for help when one occurs. A solid, comprehensive plan is the underpinning for effective communication and brand maintenance. As preparing for a crisis is now a fact of life, the aim of this paper is to serve as a blueprint for an organisation’s crisis communication framework. Nobody wants to think about potential crises, but a state of preparedness will help alleviate the stress associated with it.
Forecasting banknote returns in a changing payments environment
Authors: Cronin David , Mcinerney Niall
Published: July 2024

This paper provides a model for forecasting cash returns to central banks. Using data from Ireland, the study identifies a recent structural shift in the relationship between banknote returns and cashbased personal consumption expenditure, likely due to the adoption of contactless payments. Projections of banknote returns are informed by three elements: forecasts of personal consumption, the cash share of that spending, and the returns ratio — that is the ratio of (the log of) banknote returns to the (log of) cash-based personal consumption. To illustrate the modelling approach, the study considers the effects of future payment instrument choices and of COVID-19 on consumption to forecast cash returns for Ireland up to 2030.
At the crossroads between rehabilitation and redevelopment: A critique of Seoul’s Sewunsangga inner-city renewal project
Authors: Su Na In
Published: July 2024

Urban renewal was introduced to Seoul in the late 1960s. Since then, many urban renewal projects have been authorized by the Urban Renewal General Plan and the Urban Renewal Act, but most have been implemented through redevelopment. Redevelopment has been criticised as producing a monotonous cityscape and an urban cavity. In 2001, the Urban Renewal General Plan1 was announced, promoting development based on rehabilitation and conservation for Environmentally Sound and Sustainable Development (ESSD). One of the latest projects is the Sewunsangga Renewal Project. Since the government proposed this rehabilitation plan in 2003, two revisions have changed it from a rehabilitation project to something more like a redevelopment one. In 2013, the new mayor again authorised rehabilitation of the Sewunsangga2 area. This study tracks changes in the plans and examines their effects on the project. It also discusses how rehabilitation and redevelopment have been conceptualised in the urban renewal of Seoul.
Take notice! The legal and commercial impact of the General Data Protection Regulation’s rules on privacy notices
Authors: Morrissey Simon
Published: July 2024

Privacy notices have a key role to play in data protection compliance: they form one of the means by which data controllers can comply with their obligations to obtain the informed consent of the data subject and they are also one of the means by which data controllers can comply with the new transparency requirements under the General Data Protection Regulation (GDPR) 2016/679. This paper examines the impact that the GDPR will have on the content and communication of existing Privacy Notices by contrasting the new privacy notice requirements under the GDPR, with the current requirements under the Data Protection Act 1998.
Securities settlement revolution in Japan: The future of securities settlement
Authors: Yanagawa Eiichiro
Published: July 2024

This paper examines the efforts planned and in progress to shorten the settlement cycle of Japanese government bonds ( JGBs) from two business days after the trade date (T+2) to one (T+1). This report on the so-called ‘securities settlement revolution’, focuses on key trends and changes in the securities settlement market of Japan while exploring legacy systems and ecosystem migration as well as the related possibilities of innovation and emerging technologies in this context. The revolution currently underway in Japan is tackling the below five areas: (1) initiatives to shorten the settlement cycle for JGBs and securities; (2) efforts to enhance the functions, expand use, improve linkages and integration of the central counterparty (CCP); (3) enhanced functions of the central securities depositories (CSD); (4) accelerated adoption and use of straight-through processing (STP) by market participants; and (5) facilitating smoother cross-border securities settlement. The first chapter in this revolution is to be planned for the spring of 2018. In 2012, the market successfully introduced a settlement cycle that was shortened to two business days (T+2) for outright JGB transactions and SC repos (special collateral repurchase transactions) and one business day (T+1) for GC repos (general collateral repurchase transactions and together collectively regarded as T+2). The upcoming revolution builds on this with the aim of shortening this settlement cycle to T+1, one business day after a trade.
Should you be banking on RegTech?
Authors: Walshe Jane , Cropper Tom
Published: July 2024

Technology has revolutionised the financial sector, but while it opens up opportunities it also creates regulatory challenges. RegTech helps keep pace with the evolving landscape, as well as reducing the operational cost of compliance.
Portfolio planning in an uncertain economic environment
Authors: Stoner Stephen A. , Page Richard C.
Published: July 2024

Over the past several years, the global economic downturn has forced many organisations to dramatically rethink the way they conduct business — they have been forced to do so in order to survive. While most of the focus is on cost reduction, this situation also creates an opportunity for the corporate real-estate department to redefine the way in which it interacts with the rest of the company and take its rightful place as a strategic business partner. These new market factors require a different set of portfolio management processes at all phases of the planning life cycle. Accordingly, there are implications for how corporate real estate professionals relate to their business unit customers as well as how real estate market information is tracked and evaluated. Key items addressed in this paper include: how to plan for and manage economic uncertainty; taking advantage of rapidly changing real estate market conditions; emerging transaction structures; understanding and negotiating with the ‘new’ owners of real estate; and using market timing to lock in costs and enhance flexibility. Effective execution of these techniques will increase the internal credibility of the corporate real estate organisation and improve the chances of getting a seat at the table for corporate planning discussions.
Negative interest rates and the demand for cash
Authors: Humphrey David
Published: July 2024

Switzerland, Denmark, Sweden and the euro countries of Europe have all imposed small negative interest rates on deposits commercial banks place with their central bank. These costs may be passed on to their depositors in the form of a fee on deposit balances. The fear is that higher negative interest rates will provide an incentive for banks and depositors to increase their demand for cash. If this occurs, banks may hoard cash and depositors may substitute cash for card transactions. A number of solutions have been proposed but have administrative and political drawbacks. Current operating procedures offer a less disruptive approach.
Innovative disruption: Utilising brand to manage and drive change
Authors: Gregory James R. , Bridwell Hampton
Published: July 2024

Professor Clayton M. Christensen has narrowly defined Disruptive Innovation.1 We agree that it is wise to maintain a specific definition for the sake of academic purity to examine how it evolves over time. As marketing practitioners we must also consider the fact that there are many types of disruption that impact business. From the perspective of the disrupting or disrupted participants, it is more important to understand where you are in what the professor describes as the disruptive process rather than just where or how you enter the process. Continuous quantitative measurement of your brand in the context of your industry is one of the best early warning systems against disruption and provides a dashboard of where you are in the process. Customer experience management is one of the best tools to protect your brand against disruptive intrusions.