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Asset-backed securitization will greatly promote the sustainability of infrastructure construction and financing. However, there are quite limited researches conducted in this field. Given the project characteristics of infrastructure project securities, this paper proposes the issuance steps of redeemable asset-backed notes (ABN) based on the infrastructure project’s usufruct as the basic asset. Taking the expressway franchise as an example, the issuing scale and coupon rate of the redeemable ABN are determined by the expected cash flow of the expressway, the term structure of random interest rates, and the option-adjusted spread (OAS). In addition, this research analyzes the duration, convexity, and OAS.
Qiming Zhang; Linda Yin-Nor Tjia; Biyue Wang; Aksel Ersoy. Sustainable Construction and Financing—Asset-Backed Securitization of Expressway’s Usufruct with Redeemable Rights. Sustainability 2021, 13, 9113 .
AMA StyleQiming Zhang, Linda Yin-Nor Tjia, Biyue Wang, Aksel Ersoy. Sustainable Construction and Financing—Asset-Backed Securitization of Expressway’s Usufruct with Redeemable Rights. Sustainability. 2021; 13 (16):9113.
Chicago/Turabian StyleQiming Zhang; Linda Yin-Nor Tjia; Biyue Wang; Aksel Ersoy. 2021. "Sustainable Construction and Financing—Asset-Backed Securitization of Expressway’s Usufruct with Redeemable Rights." Sustainability 13, no. 16: 9113.
Most High-Speed Railway (HSR) station areas in China can be found at the urban periphery or in suburban areas, a phenomenon that has often been criticised. While debate about the influence these location choices have on the economic and sustainable development of cities rages on, little attention has been paid to the decision-making processes leading to these locations. This paper investigates these processes by comparing HSR stations in three cities: Shenzhen, Lanzhou and Jingmen. Our findings can help actors involved in making location choices develop awareness of different interests and create the conditions for successful development of HSR station areas.
Biyue Wang; Martin de Jong; Ellen Van Bueren; Aksel Ersoy; Yawei Chen. Unravelling Decision-Making Processes on Location Choices for High-Speed Railway Stations in China: A Comparison of Shenzhen, Lanzhou and Jingmen. Planning Theory & Practice 2021, 1 -22.
AMA StyleBiyue Wang, Martin de Jong, Ellen Van Bueren, Aksel Ersoy, Yawei Chen. Unravelling Decision-Making Processes on Location Choices for High-Speed Railway Stations in China: A Comparison of Shenzhen, Lanzhou and Jingmen. Planning Theory & Practice. 2021; ():1-22.
Chicago/Turabian StyleBiyue Wang; Martin de Jong; Ellen Van Bueren; Aksel Ersoy; Yawei Chen. 2021. "Unravelling Decision-Making Processes on Location Choices for High-Speed Railway Stations in China: A Comparison of Shenzhen, Lanzhou and Jingmen." Planning Theory & Practice , no. : 1-22.
Aksel Ersoy. One Year After the Covid-19 Pandemic: Reframing Future Cities in the Awaking of Crises. disP - The Planning Review 2021, 57, 4 -5.
AMA StyleAksel Ersoy. One Year After the Covid-19 Pandemic: Reframing Future Cities in the Awaking of Crises. disP - The Planning Review. 2021; 57 (1):4-5.
Chicago/Turabian StyleAksel Ersoy. 2021. "One Year After the Covid-19 Pandemic: Reframing Future Cities in the Awaking of Crises." disP - The Planning Review 57, no. 1: 4-5.
Finding new approaches to overcome complex urban problems such as climate change has always been of interest to policymakers and academics. The changing dynamics of urban development result in the diversification of new practices during which experimentation is used to inform urban practice. Amongst these approaches, urban living labs (ULLs) have become a popular form of urban experimental innovation in many countries in the last decade. These ULLs respond to the increased complexity of future challenges calling for local solutions that acknowledge the local conditions—political, technical, and social. Even though a great deal of attention has been given to this form of urban innovation, there has been little consideration of the learning and innovation processes within ULLs. Based on a comparative case study of three innovation projects in a ULL in the city of Amsterdam, we analyse and discuss the claims of ULLs regarding innovation and the different orders of learning they foster. We argue that in the processes of experimentation within ULLs, combining mechanisms of learning and innovation is key to promoting the development of particular local solutions. However, since the learning processes are especially concerned within a particular ULL learning setting, there is a mismatch between the expectations of policymakers, industry, citizens, and knowledge institutes, as well as how the lessons learned can be useful for other contexts.
Aksel Ersoy; Ellen Van Bueren. Challenges of Urban Living Labs towards the Future of Local Innovation. Urban Planning 2020, 5, 89 -100.
AMA StyleAksel Ersoy, Ellen Van Bueren. Challenges of Urban Living Labs towards the Future of Local Innovation. Urban Planning. 2020; 5 (4):89-100.
Chicago/Turabian StyleAksel Ersoy; Ellen Van Bueren. 2020. "Challenges of Urban Living Labs towards the Future of Local Innovation." Urban Planning 5, no. 4: 89-100.
Aksel Ersoy; John Bryson; Ellen van Bueren. Unlocking values through infrastructure interdependencies. Infrastructure Asset Management 2020, 7, 134 -143.
AMA StyleAksel Ersoy, John Bryson, Ellen van Bueren. Unlocking values through infrastructure interdependencies. Infrastructure Asset Management. 2020; 7 (2):134-143.
Chicago/Turabian StyleAksel Ersoy; John Bryson; Ellen van Bueren. 2020. "Unlocking values through infrastructure interdependencies." Infrastructure Asset Management 7, no. 2: 134-143.
The theory of ‘reflexive governance’ prioritises process over outcomes and advocates participatory procedures, valorising multiple sources of knowledge, mutual learning and continuous evolution of organisational forms. Through the lens of reflexive governance, we explore the evolution of Bristol Green Capital Partnership, which, since 2008, has played a pivotal role in animating the environmental debate within Bristol, especially in the European Green Capital programme (2015). We conclude that the BGCP represents a ‘bounded’ example of reflexive governance, one that exhibits advanced forms of deliberation and coproduction but, ultimately, addresses too narrow a constituency of environmental, business and green activist interests.
Aksel Ersoy; Stephen Hall. The Bristol Green Capital Partnership: an exemplar of reflexive governance for sustainable urban development? Town Planning Review 2020, 91, 397 -413.
AMA StyleAksel Ersoy, Stephen Hall. The Bristol Green Capital Partnership: an exemplar of reflexive governance for sustainable urban development? Town Planning Review. 2020; 91 (4):397-413.
Chicago/Turabian StyleAksel Ersoy; Stephen Hall. 2020. "The Bristol Green Capital Partnership: an exemplar of reflexive governance for sustainable urban development?" Town Planning Review 91, no. 4: 397-413.
In the context of climate change mitigation strategies in urban environments and reducing reliance on carbon-based energy sources, the Netherlands is gradually taking steps towards modification of its thermal energy system. Geothermal energy, widely used in agriculture, has recently emerged as a local, clean, and sustainable energy source able to fulfil the residential demand for space heating and has received growing attention in district energy planning. However, failed attempts in the past and the lack of experience with direct application of this technology in district heating systems has increased uncertainty with respect to the technical, spatial, and socioeconomic barriers to be overcome between supply and demand. This calls for the application of decision support tools in order to remove these barriers and facilitate more appropriate decision making towards the implementation of smart thermal energy grids in local energy communities. This research explores how the network of actors, those who see opportunities in direct use of geothermal energy in the Netherlands, can work on the transformation of the current centralised carbon-based energy systems towards local sustainable energy communities.
Ioannis Acheilas; Fransje Hooimeijer; Aksel Ersoy. A Decision Support Tool for Implementing District Heating in Existing Cities, Focusing on Using a Geothermal Source. Energies 2020, 13, 2750 .
AMA StyleIoannis Acheilas, Fransje Hooimeijer, Aksel Ersoy. A Decision Support Tool for Implementing District Heating in Existing Cities, Focusing on Using a Geothermal Source. Energies. 2020; 13 (11):2750.
Chicago/Turabian StyleIoannis Acheilas; Fransje Hooimeijer; Aksel Ersoy. 2020. "A Decision Support Tool for Implementing District Heating in Existing Cities, Focusing on Using a Geothermal Source." Energies 13, no. 11: 2750.
Aksel Ersoy. The impact of smart city technologies: lessons from three UK cities. Proceedings of the Institution of Civil Engineers - Urban Design and Planning 2019, 172, 169 -175.
AMA StyleAksel Ersoy. The impact of smart city technologies: lessons from three UK cities. Proceedings of the Institution of Civil Engineers - Urban Design and Planning. 2019; 172 (5):169-175.
Chicago/Turabian StyleAksel Ersoy. 2019. "The impact of smart city technologies: lessons from three UK cities." Proceedings of the Institution of Civil Engineers - Urban Design and Planning 172, no. 5: 169-175.
Urban entrepreneurialism is generally characterized by a series of spectacular events, organized and orchestrated by powerful actors. Recently, this has given rise to a series of urban policy agendas that have become ubiquitous across the world. This paper draws attention to an emergent form of urban entrepreneurialism that privileges environmentalism, social inclusion and grassroots creativity. Based on the 2015 European Green Capital process taking place in Bristol in the United Kingdom, this paper shows how the European Green Capital Award is being used to engage a large and diverse range of organizations in the name of the Bristol Green Capital Partnership. We argue that rather than reiterating narratives of urban entrepreneurialism as dominated by narrow economic agendas and being socially exclusionary, this form of urban entrepreneurialism encourages us to look at cities as places that can be coproduced in context-sensitive ways by multiple entities. The paper is informed by primary data gathered through fieldwork conducted over 2014 and 2015, including primary documents, key informant interviews and participant observation.
Aksel Ersoy; Wendy Larner. Rethinking urban entrepreneurialism: Bristol Green Capital – in it for good? European Planning Studies 2019, 28, 790 -808.
AMA StyleAksel Ersoy, Wendy Larner. Rethinking urban entrepreneurialism: Bristol Green Capital – in it for good? European Planning Studies. 2019; 28 (4):790-808.
Chicago/Turabian StyleAksel Ersoy; Wendy Larner. 2019. "Rethinking urban entrepreneurialism: Bristol Green Capital – in it for good?" European Planning Studies 28, no. 4: 790-808.
One major impact of the global economic crisis is the way it has deepened inequalities around the world. Infrastructure remains essential within this debate as it provides wider health, economic and environmental benefits for society beyond the conventional calculations of cash returns. With the potential exploration of big data, cities now face challenges as well as opportunities to use a series of static and dynamic datasets. Big data methods are offering new opportunities to design decision-making models for urban planning and management. The combination of social media, census, sensors and traditional data gives a new perspective to solve modern urban challenges through a holistic and inclusive approach. Nevertheless, the BOLD methods are relatively new and have not been applied in the context of urban infrastructure. This paper explores whether BOLD methods can help one reconceptualize urban infrastructure not only with technical and operational characteristics but also with social values in the context of the Global South. To demonstrate, Belo Horizonte, Brazil, is used as a case study.
Aksel Ersoy; Klaus Alberto. Understanding urban infrastructure via big data: the case of Belo Horizonte. Regional Studies, Regional Science 2019, 6, 374 -379.
AMA StyleAksel Ersoy, Klaus Alberto. Understanding urban infrastructure via big data: the case of Belo Horizonte. Regional Studies, Regional Science. 2019; 6 (1):374-379.
Chicago/Turabian StyleAksel Ersoy; Klaus Alberto. 2019. "Understanding urban infrastructure via big data: the case of Belo Horizonte." Regional Studies, Regional Science 6, no. 1: 374-379.
Aksel Ersoy; Peter Fawcett; Carolin Schröder; Jenny Wood. Book Reviews. Town Planning Review 2016, 87, 735 -741.
AMA StyleAksel Ersoy, Peter Fawcett, Carolin Schröder, Jenny Wood. Book Reviews. Town Planning Review. 2016; 87 (6):735-741.
Chicago/Turabian StyleAksel Ersoy; Peter Fawcett; Carolin Schröder; Jenny Wood. 2016. "Book Reviews." Town Planning Review 87, no. 6: 735-741.
One of the fundamental aspects of the economic and social viability of the local and regional areas of Turkey is the degree to which they have access to the wider national economic and social system. Accessibility is, therefore, of major social, economic and political significance in Turkey and it directly affects Turkey's regional growth and the quality of life in local communities. However, the importance of the economic and social viability of the communities is increasingly complicated in the face of rapid global economic recession. It is argued that countries need to develop knowledge economies to compete successfully as knowledge is a critical factor for growth. This paper integrates accessibility and the importance of knowledge creation in understanding local and regional economic development. This empirical study has shown that although there is a high correlation between the accessibility index and the population figures of Turkey, accessibility to knowledge differs across Turkish provinces.
Aksel Ersoy. Impact of Accessibility and Knowledge Creation on Local and Regional Development in Turkey. Growth and Change 2016, 47, 648 -663.
AMA StyleAksel Ersoy. Impact of Accessibility and Knowledge Creation on Local and Regional Development in Turkey. Growth and Change. 2016; 47 (4):648-663.
Chicago/Turabian StyleAksel Ersoy. 2016. "Impact of Accessibility and Knowledge Creation on Local and Regional Development in Turkey." Growth and Change 47, no. 4: 648-663.
Klaus Chaves Alberto; Aksel Ersoy. Big Data, Well-Being and Inclusive Cities: Some Reflections from the UK and Brazil. Regions 2016, 303, 17 -18.
AMA StyleKlaus Chaves Alberto, Aksel Ersoy. Big Data, Well-Being and Inclusive Cities: Some Reflections from the UK and Brazil. Regions. 2016; 303 (1):17-18.
Chicago/Turabian StyleKlaus Chaves Alberto; Aksel Ersoy. 2016. "Big Data, Well-Being and Inclusive Cities: Some Reflections from the UK and Brazil." Regions 303, no. 1: 17-18.
Over the last years, engagement with politics in Scotland has increased significantly through involvement in the campaigns or party membership following the post-referendum period and the Leaders Debate in 2015. Recent general elections in the UK have shown that Scotland “voted for change” as they have become the third largest party in the House of Commons. Nevertheless, the cuts in public spending still remain as the major challenges for the Scottish Government. In the aftermath of the Christie Commission, there has been an increasing interest in the concept of coproduction in Scotland to overcome some of those challenges in public services. The aim of this paper is twofold. Firstly, it explores how coproduction has become embedded in the Scottish context. Secondly, it uses Aberdeen as a case study and investigates how Aberdeen City Council has adopted this concept in its approach. The paper argues that coproduction needs a more critical perspective in managerial approaches to public services so that it can be a matter of democracy rather than administration.
Aksel Ersoy. The spread of coproduction: How the concept reached the northernmost city in the UK. Local Economy: The Journal of the Local Economy Policy Unit 2016, 31, 410 -423.
AMA StyleAksel Ersoy. The spread of coproduction: How the concept reached the northernmost city in the UK. Local Economy: The Journal of the Local Economy Policy Unit. 2016; 31 (3):410-423.
Chicago/Turabian StyleAksel Ersoy. 2016. "The spread of coproduction: How the concept reached the northernmost city in the UK." Local Economy: The Journal of the Local Economy Policy Unit 31, no. 3: 410-423.
This article examines the distribution of the headquarters of top 500 large industrial enterprises in Turkey. It contributes to the knowledge of economic geography by examining regional clusters of headquarters activity in Turkey. As a country, Turkey's corporations have not been extensively analyzed or integrated into the international economic geography literature especially given the fact that headquarters activities in general are important but understudied in the literature of geography. This study therefore extends the corporate literature further in an international dimension, a priority that has been noted as important in the headquarters literature of geography. It argues that not only does the spatial organization of corporations remain important in urban systems but also that they are linked to the dynamics of local and regional economies within developing countries. It shows that various Turkish cities have distinctive internal structures comprising agglomerations of different industries. Although some of these industries are better performing in big cities, the majority of the cities in the top 500 large enterprises list underperform on average.
Aksel Ersoy. Exploring Economic Development Through Headquarters: The Spatial Distribution of Turkey's Large Industrial Enterprises and Its Implications for Urban Systems. The Professional Geographer 2015, 68, 138 -148.
AMA StyleAksel Ersoy. Exploring Economic Development Through Headquarters: The Spatial Distribution of Turkey's Large Industrial Enterprises and Its Implications for Urban Systems. The Professional Geographer. 2015; 68 (1):138-148.
Chicago/Turabian StyleAksel Ersoy. 2015. "Exploring Economic Development Through Headquarters: The Spatial Distribution of Turkey's Large Industrial Enterprises and Its Implications for Urban Systems." The Professional Geographer 68, no. 1: 138-148.
Aksel Ersoy. Turkey's Protean Regional Policy: Does It Happen on the Ground? Middle Eastern Studies 2014, 50, 755 -774.
AMA StyleAksel Ersoy. Turkey's Protean Regional Policy: Does It Happen on the Ground? Middle Eastern Studies. 2014; 50 (5):755-774.
Chicago/Turabian StyleAksel Ersoy. 2014. "Turkey's Protean Regional Policy: Does It Happen on the Ground?" Middle Eastern Studies 50, no. 5: 755-774.
Aksel Ersoy; Michael Taylor. Modelling Local and Regional Economic Development in Turkey: A “Curate's Egg”. Growth and Change 2012, 43, 615 -637.
AMA StyleAksel Ersoy, Michael Taylor. Modelling Local and Regional Economic Development in Turkey: A “Curate's Egg”. Growth and Change. 2012; 43 (4):615-637.
Chicago/Turabian StyleAksel Ersoy; Michael Taylor. 2012. "Modelling Local and Regional Economic Development in Turkey: A “Curate's Egg”." Growth and Change 43, no. 4: 615-637.
Planning and developingrelevant policies for regions, localities and places have been one of the fundamental issues for politicians, policy makers, academics, researchers and practitioners in the field of local and regional economic development.This task is getting increasingly problematic in the face of rapid global economic change that has now been complicated by the impact of recession and volatility in fuel, energy and mineral costs. In this process, some countries that have been considered less developed are growing very fast in a way that has never been anticipated before. These counties show great potential to develop and there is a need to understand the regional dimension of growth more than ever. This paper explains the challenges that analysts and researchers experience when they want to translate the processes that shape regional economies into regional policies and programs both at the national and regional levels.
Aksel Ersoy; Michael Taylor. Understanding Dynamics of Local and Regional Economic Development in Emerging Economies. Economic Research-Ekonomska Istraživanja 2012, 25, 1079 -1088.
AMA StyleAksel Ersoy, Michael Taylor. Understanding Dynamics of Local and Regional Economic Development in Emerging Economies. Economic Research-Ekonomska Istraživanja. 2012; 25 (4):1079-1088.
Chicago/Turabian StyleAksel Ersoy; Michael Taylor. 2012. "Understanding Dynamics of Local and Regional Economic Development in Emerging Economies." Economic Research-Ekonomska Istraživanja 25, no. 4: 1079-1088.