La réception du contrat de crédit-bail par le droit positif irakien n’a pas besoin d’une acculturation qui prendrait la forme de la soumission ou de l’assimilation aux règles juridiques ayant été élaborées dans un environnement juridique différent. Afin d’être accueilli par le droit positif irakien, le contrat de crédit-bail doit passer par la réception des modèles français, américain, islamique dans le système juridique irakien pour y former un droit mixte d’application spéciale. Pour fournir une explication bien satisfaisante pour la réception d’un modèle du contrat de crédit-bail dans l’ordre juridique irakien, il est indispensable de chercher des propositions plus spécifiques s’agissant la sélection des normes juridiques ; l’ajustement entre les normes empruntées et le système juridique dans lequel ils doivent être reçus ; et les relations entre les deux cultures juridiques. Le législateur irakien ne peut se limiter à une simple copie, car il doit veiller à établir des lois qui sont le reflet de la mentalité et de la culture juridique irakienne. Il est donc indispensable d’explorer plus à fond les forces qui motivent la réception du contrat de crédit-bail par le droit positif irakien : la recherche d’un système juridique, culture juridique, et culture fiscale adéquate. Cette analyse ouvre des perspectives nouvelles et soulève toute une série de questions, étudiées à la lumière des droits français, américain et irakien. Les points soulevés par la première partie de notre thèse montrent bien les stratégies, les démarches et les principaux obstacles de la transplantation indirecte des normes juridiques ayant été élaborées dans un environnement non islamique. C’est donc à l’analyse de la réception indirecte des normes juridiques applicables au contrat de crédit-bail que la première partie de la thèse est consacrée. À côté de la réception indirecte des normes juridiques applicables du contrat de crédit-bail, une transplantation directe des normes comptables et fiscales est indispensable pour la réception du contrat de crédit-bail par le droit positif irakien. L’enjeu de la réception d’un point de vue comptable et fiscal sera dès lors multiple : d’une part, un rapprochement entre le droit comptable, fiscal français et le droit fiscal, comptable irakien est souhaitable et recherché. D’autre part, un rapprochement entre le droit comptable, fiscal américain, ayant été inspiré par les normes comptables et fiscales internationales, et le droit fiscal, comptable irakien est faisable. C’est la compatibilité et l’harmonisation qui sont recherchées. C’est donc à l’analyse de la réception directe des normes comptables et fiscales applicables au contrat de crédit-bail que la deuxième partie de la thèse est consacrée. / The receipt of the contract of finance lease in Iraqi positive law does not need an acculturation which would take the shape of submission or the assimilation to the legal rules having been elaborate in a different legal environment. To be integrated into Iraqi substantive law, the contract of finance lease must pass through the transplantation of French, American and Islamic models in the Iraqi legal system to form mixed law of special enforcement. To provide a satisfactory explanation for the adoption of a model of the contract of finance lease in the Iraqi legal system, it is essential to go beyond the often articulated approaches to legal changes. Seeking more specific proposals regarding the selection of legal innovation sources; the fit between the rules borrowed and the system in which they must be received, and the relationships between sectors of the two legal systems. The Iraqi legislator can not be limited a simple copy, because it must be sure to establish laws that are a reflection of the mentality and the Iraqi legal culture. It is therefore essential to further explore the forces that motivate the receipt of finance lease and defines its scope: the search for a legal system, legal culture, tax culture that is perceived as authentic or adequate. This analysis opens up new perspectives and raises a series of questions examined in the light of French, American and Iraqi rights. The points raised by the first part of this thesis show of strategies, approaches and the main obstacles of indirect legal transplantation of rules that have been developed in a non-Islamic environment. So the analysis of indirect receipt legal standards applicable to the contract of finance lease that the first part of the thesis is devoted. Next to the indirect receipt legal rules applicable of the contract of finance lease, a direct transplantation of accounting and tax standards is essential to receipt of contract finance lease the Iraqi positive law. The issue of receipt of an accounting and tax perspective will therefore be multiplied: One hand, reconciliation between the French accounting law, French tax law and, Iraqi accounting law, Iraqi tax law is desirable and sought after. In addition, reconciliation between the U. S. accounting law, U.S. tax law, having been inspired by the international accounting, and tax standards and Iraqi accounting law, Iraqi tax law is feasible. It is then compatibility and harmonization are sought. So the analysis of the direct receipt of accounting and tax rules applicable to the contract of finance lease that the second part of the thesis is devoted.

Leasingen har ökat under de senare åren. Den har använts som ett alternativt finansieringssätt för många företag. Genom leasing kan företagen undvika lån eller bundet kapital vid investering. Detta medför flexibilitet och ekonomiska fördelar. Enligt IAS 17 klassificeras leasing med två redovisningssätt, operationellt och finansiellt leasingavtal. Ett operationellt avtal betyder en konstant kostnad över leasingtiden i resultaträkningen. Det finansiella leasingavtalet redovisas med en avskrivning och en ränta i resultaträkningen samt en skuld och en tillgång i balansräkningen. Redovisningsskillnaden mellan avtalen medför problem då operationell leasing redovisas utanför balansräkningen "off-balance-sheet". Den operationella redovisningen ger inte investerare och analytiker en rättvisande bild om företagets finansiella ställning. Med anledning av detta har IASB och FASB tvingats utveckla en ny och omarbetad leasingstandard (IFRS 16). Standarden är tänkt att eliminera redovisningsskillnaderna och därmed öka jämförbarheten. Den främsta förändringen i den nya leasingstandarden är att leasingavtal, som är mer än 12 månader, ska redovisas som den nuvarande finansiella leasingen där tillgången tas upp som en tillgång och en skuld i balansräkningen. Syftet är att undersöka förändringen av företagens finansiella ställning före och efter en kapitalisering, vid ett byte från IAS 17 till IFRS 16. Kapitaliseringen innebär ökade skulder och tillgångar i balansräkningen. Rapporten ska undersöka hur balansräkningen förändras. Kapitaliseringen påverkar även resultaträkningen genom avskrivningar och räntekostnader. Dessa förändringar i resultaträkningen ska också undersökas. Tidigare forskning visar att företagens storlek och bransch kan få olika effekt vid en kapitalisering. Syftet är därför att kartlägga kapitaliseringseffekten mellan olika branscher samt beskriva effektskillnaderna mellan företagens storlek, samt söka samband dem emellan. Undersökningen visade att effekten på företagens finansiella rapporter var varierande, där resultaträkningen hade en mindre effekt än balansräkningen. Kapitaliseringen ledde till en kraftig skuldökning samt en mindre ökning på tillgångssidan, som i sin tur gav olika effekt på nyckeltalen. Skuldsättningsgraden och soliditeten påverkades mest, i jämförelse med de andra nyckeltalen i undersökningen. Gällande branscher och företagsstorlek är det Consumer Services och Small Cap, som totalt sett påverkades mest. Detta medför att företagens egenskaper och storlek hade betydelse vid en kapitalisering.

Land is a major factor in agricultural production, so agricultural land allocated to smallholder farmers through Land Reform Program or by traditional leader need to be actively utilised for enhancement of agricultural business. The study assessed land utilisation by small and emerging farmers in the Greater Tzaneen Municipality. Data was collected from 86 farms and analysed using SPSS Version 23. The results indicate that 74% of the farmers fully utilised their farm lands. Results of Logit model revealed that, the amount received from leasing, value adding to products, annual farm income and savings had positive significant impact on the area of cultivation, while skills pertaining to farming activities and the proportion of farm inputs purchased with the farmer’s own money had negative impact. The significant variables should be considered to influence full farmland utilisation by small and emerging farmers in the study area; farmers need production inputs, affordable loans and other forms of funding to improve farmland utilisation / Agriculture, Animal Health and Human Ecology / M. Sc. (Agriculture)

Thesis (LLD (Public Law))--University of Stellenbosch, 2010. / Bibliography / ABSTRACT ENGLISH: The dissertation considers the tenure rights of urban residential tenants in the post-1994 constitutional dispensation. The 1996 Constitution mandates tenure reform in two instances. Firstly, section 25(6) (read with section 25(9)) mandates the legislature to enact legislation that would provide legally secure tenure rights for a person or community whose tenure of land is insecure as a result of past racially discriminatory laws or practices. This form of tenure reform is race-based. Secondly, section 26(3) mandates the courts to consider all relevant circumstances during eviction proceedings. In terms of this provision the court can refuse to grant the eviction order on the basis of the occupier's socio-economic weakness, which is a more general form of class-related tenure reform. The Constitution also ensures the right to have access to adequate housing, while the legislature must introduce measures that would give effect to this right (sections 26(1) and 26(2)). To determine whether the current landlord-tenant regime in South Africa is able to provide tenants with secure occupation rights and access to rental housing, it is compared to landlord-tenant regimes in pre-1994 South Africa, the United Kingdom, New York State and Germany. The landlord-tenant regimes are considered in light of changing socio-economic circumstances where the state had to assist households during housing shortages. The dissertation assesses the efficiency of landlord-tenant law, combined with regulatory measures that ensure substantive tenure rights and rent restrictions, as a form of tenure that could help alleviate housing shortages and initiate a new landlord-tenant regime for South Africa that would give effect to the Constitution. The dissertation concludes that the current substantive tenure rights of urban residential tenants are largely based on the common law, which is associated with weak tenure security. The landlord-tenant laws, namely the Rental Housing Act 50 of 1999 and the Social Housing Act 16 of 2008, fail to provide urban residential tenants with substantive tenure rights. The legislature has failed to enact a law that gives effect to section 25(6) in the landlord-tenant framework. The legislature did enact the Prevention of Illegal Eviction from and Unlawful Occupation of Land Act 19 of 1998 (PIE) in order to give effect to section 26(3). Recently the courts interpreted PIE to provide marginalized tenants with substantive tenure protection during eviction proceedings. However, to give effect to section 25(6) legislation should grant residential tenants substantive tenure rights that are legally secure prior to eviction. The legislature enacted the Rental Housing Act and the Social Housing Act to give effect to the right to housing (section 26 of the Constitution) in the landlord-tenant framework. These laws fail to promote access to rental housing as a form of tenure that could help alleviate housing shortages. / AFRIKAANSE OPSOMMING: Die proefskrif oorweeg die okkupasieregte van stedelike residensiële huurders in die post-1994 konstitusionele bedeling. Die 1996 Grondwet bepaal dat okkupasieregte in twee gevalle hervorm moet word. Eerstens gee artikel 25(6) (gelees met artikel 25(9)) opdrag aan die wetgewer om wetgewing te verorden wat okkupasieregte met verblyfsekerheid aan 'n person of gemeenskap sal verleen indien so 'n person of gemeenskap tans grond okkupeer met okkupasieregte wat onseker is as gevolg van vorige rasgebaseerde wetgewing. Hierdie tipe hervorming is rasgebaseer. Tweedens gee artikel 26(3) opdrag aan die howe om alle relevante faktore te oorweeg as deel van enige uitsettingsprosedure. In terme van hierdie bepaling is die howe gemagtig om 'n uitsettingsbevel te weier op die basis van die okkupeerder se sosio-ekonomiese kwesbaarheid. Hierdie tipe hervorming is 'n meer algemene klasgebaseerde hervorming. Artikel 26(1) (gelees met artikel 26(2)) van die Grondwet bepaal dat elkeen die reg op toegang tot geskikte behuising het, terwyl die staat redelike wetgewende en ander maatreëls moet tref om hierdie reg te verwesenlik. Ten einde te bepaal of die huidige huurbehuisingstelsel in Suid-Afrika voldoende is, met inagneming van die stelsel se vermoë om huurders te voorsien van okkupasieregte met verblyfsekerheid en van toegang tot huurbehuising, word dit vergelyk met die huurbehuisingstelsels in Suid Afrika voor 1994, die Verenigde Koninkryk, New York Staat en Duitsland. Hierdie huurbehuisingstelsels word bespreek met inagneming van veranderinge in die sosio-ekonomiese omstandighede waartydens die staat gedurende behuisingstekorte huishoudings moes ondersteun. Die doeltreffendheid van huurbehuising word beoordeel met verwysing na regulasies wat substantiewe okkupasieregte verseker en beperkings plaas op huurpryse om 'n vorm van verblyfreg daar te stel wat die behuisingstekort kan verminder ten einde 'n nuwe huurbehuisingstelsel vir Suid-Afrika te inisieër wat gevolg aan die Grondwet sal gee. Die proefskrif lei tot die gevolgtrekking dat die huidige substantiewe okkupasieregte van stedelike residensiële huurders grotendeels op die gemenereg gebaseer is. Die gemenereg maak nie voorsiening vir sterk substantiewe okkupasieregte nie. Die huidige huurbehuisingswetgewing, naamlik die Wet op Huurbehuising 50 van 1999 en die Wet op Maatskaplike Behuising 16 van 2008, slaag nie daarin om substantiewe okkupasieregte vir stedelike residensiële huurders te voorsien nie. Die wetgewer het nie daarin geslaag om 'n wet te promulgeer wat in die huurbehuisingsraamwerk aan artikel 25(6) effek gee nie. Die wetgewer het wel die Wet op die Voorkoming van Onwettige Uitsetting en Onregmatige Besetting van Grond 19 van 1998 verorden om effek te gee aan artikel 26(3) van die Grondwet. Hierdie Wet is onlangs so deur die howe geïnterpreteer dat dit kwesbare huurders tydens uitsettingsprosedures met substantiewe okkupasieregte beskerm. Om aan artikel 25(6) te voldoen moet wetgewing egter substantiewe okkupasieregte met verblyfsekerheid aan residensiële huurders verskaf voordat hulle uitgesit word. Die wetgewer het die Wet op Huurbehuising en die Wet op Maatskaplike Behuising verorden ten einde effek aan die reg op behuising (artikel 26 van die Grondwet) in die gebied van huurbehuising te gee. Geeneen van hierdie wette slaag daarin om toegang tot behuising, en veral huurbehuising as 'n vorm van okkupasie, te bevorder ten einde die behuisingtekort te verminder nie.

A resposta do governo frente ao déficit habitacional possibilita novo cenário que encontra apoio da população beneficiada, entretanto os desdobramentos de uma política habitacional pautada em um modelo hegemônico, com produção em massa e periférico, incutem prejuízos à produção das cidades. A hipótese é de que a política habitacional, fundida à política de emprego e ao incentivo da produção em massa que norteiam o programa, se impõe desarticulada da política urbana e em especial da política urbana municipal presente (ou não) nos Planos Diretores Municipais, acarretando prejuízos à população e às cidades. Em função da problemática apresentada refaz-se o percurso histórico da política pública habitacional brasileira, quando surgem lacunas na produção habitacional que estabelecem a prática da autoconstrução, autofinanciamento e favelização, soluções adotadas pela população para reparar estas lacunas, e quando também adota-se a prática clientelista dos governos. A política habitacional centrada no período do governo FHC, momento em que ocorre alguma diversificação na oferta de programas habitacionais e urbanos, se consolida a partir da criação do Ministério das Cidades, criado no governo Lula que prossegue na condução da política habitacional a uma política de mercado, experimenta um período de predomínio do arrendamento residencial através de um incipiente ao mesmo tempo promissor Programa de Arrendamento Residencial até culminar no Programa Minha Casa Minha Vida. O ideário da casa própria volta com força no cenário da política habitacional e com ele toda a sorte de problemas, muitos já conhecidos, de uma política habitacional a cargo do setor privado no comando das decisões inclusive afetas ao urbanismo, com riscos de intensificar a segregação sócio-espacial e produzir cidades, ao menos parte delas, com deficiências em infraestrutura urbana, incluindo equipamentos sociais, institucionais e serviços desde os básicos até os considerados como itens de qualidade de vida, presentes no material de publicidade dos bairros planejados. A recuperação do histórico da política habitacional, para além do registro de caracterização dos programas e ações fortemente balizados pela política econômica, pretende situar a questão da economia em paralelo e intrínseca à produção habitacional. O Programa Minha Casa Minha Vida promete avanços numéricos e retrocessos presentes em uma política habitacional de produção em grande escala e periférica em que se resume grande parte da produção habitacional no âmbito do programa, como o verificado no estudo de caso do Conjunto Habitacional Vereador Eduardo Andrade Reis que caracteriza o Programa Minha Casa Minha Vida em Marília/SP. / The Brazilian government\'s answer to face the housing deficit enables a new scenario, which is supported by the beneficiary population; however, the consequences of a housing policy guided by a hegemonic mode, with mass and peripheral production, bring losses to the cities production. The hypothesis is that the housing policy, melted with the employment policy and the incentive to mass production guiding the social program, is imposed independently of the urban policy, especially of the current municipal urban policy present (or not) in the Municipal Master Plans, causing losses to the cities. The Brazilian housing public policy, historically unable to deal with the housing production shortage, has enabled not only the practice of self-construction, self-financing and the emergence of slums, which are solutions found by the population to fill the housing gap, but also clientelist practices by the governments. The housing policy during the government of the President Fernando Henrique Cardoso, when there was some diversification in the urban and housing programs offered, consolidated from the creation of the Cities Ministry during the government of the President Luiz Inacio Lula da Silva, which went on conducting the housing policy to a market policy. Then, there was a period with predominance of residential lease through the Programa de Arrendamento Residencial, which was incipient, but promising at the same time, culminating in the Minha Casa Minha Vida housing program. The idea of owning a home came back strongly to the housing policy scenario bringing along all sorts of issues, many of them well known, of a housing policy under the responsibility of the private sector, which commands even the decisions related to urbanism, at risk of intensifying social-spatial segregation and producing cities with deficiencies in urban infrastructure, including the social, institutional and services equipment. Recovering the housing policy history beyond the characterization records of the programs and actions strongly supported by the economic policy will enable us to position the issue of the economy intrinsically and in parallel to the housing production. The Minha Casa Minha Vida housing program promises numerical advances and setbacks present in a housing policy of large-scale and peripheral production as its major characteristics. This is what this case study shows about the housing complex Vereador Eduardo Andrade Reis, which characterizes the Minha Casa Minha Vida housing program in Marília-SP.

Made available in DSpace on 2016-04-26T20:23:17Z (GMT). No. of bitstreams: 1 Andrea Sirotsky Gershenson.pdf: 766596 bytes, checksum: 45b208dcc2433702d551d1ded41d470b (MD5) Previous issue date: 2014-09-26 / This study analyzes the lease contract of a specific type of business organization: the Shopping Mall. We will analyze the characteristics of this kind of development and other aspects that make it a complex and unique structure and which also make it distinct from other commercial centers. Even after the Lease Law was sanctioned (Law 8.245/91), which defined the relationship between the entrepreneur and the shopkeeper as a location, it is possible to consider the peculiarities of this kind of business and notice that there is still controversy about the legal nature of this kind of contract. Thus, we will study the doctrinal positions on the legal nature of the mall, and later qualify it as a typical or atypical contract. The legal business will be contextualized within the modern view of contract law, analyzing its main principles, in particular social function, equity and good faith. We will analyze the Mall contract and its peculiar clauses under the perspective of those paradigms. We will then approach the subject of how the termination of this kind of contract would work in case of breach of its provisions, and its chances for revision or alteration. Finally, this study will weave considerations about termination or renewal actions as far as the lease contract in shopping malls is concerned / O presente estudo busca analisar o contrato de locação em um tipo específico de organização comercial: o Shopping Center. Serão analisadas as características dessa espécie de empreendimento e demais aspectos que tornam sua estrutura única e complexa, diferenciada dos demais formatos de centros comerciais. Mesmo após sancionada a Lei de Locações (Lei 8.245/91), que definiu a relação existente entre o empreendedor e o lojista como de locação, diante das peculiaridades dessa espécie de negócio, ainda existe controvérsia sobre a natureza jurídica do contrato. Assim, serão investigados os posicionamentos doutrinários acerca da natureza jurídica do shopping center, para posteriormente qualificá-lo como contrato típico ou atípico. O negócio jurídico será contextualizado dentro da visão moderna do direito contratual, analisando-se os seus princípios informadores, em especial o da função social, equidade e da boa-fé. Analisar-se-á sob a ótica dos referidos paradigmas o contrato de shopping center e suas cláusulas peculiares. Será abordado, então, como funciona a resolução dessa espécie de contrato diante do descumprimento de suas cláusulas e suas hipóteses de revisão ou alteração. Por fim, o presente estudo tecerá considerações acerca das ações revisionais e renovatórias do contrato de locação em shopping center

The master‘s thesis is focused on defining the differences between Czech Accounting Legislation and International Financial Reporting Standards. The theoretical part defines IAS/IFRS, its development and significance at the international level. It deals with rules and requirements that are set out in the financial reporting framework and also in IAS 1 Presentation of Financial Statements. The differences concerning the reporting of a paricular field of accounting are also described in the theoretical part. The practical part follows up the analysis of the selected company and application requirements of IAS/IFRS on selected items of business corporations. Thanks to the application of the requirements, a statement of financial position and a statement of comprehensive income are proposed in accordance with the rules of IAS/IFRS. Procedural steps which are necessary for the first adoption of IAS/IFRS are covered in the last chapter of the master thesis.

<p>This thesis grew out of a problem encountered by a subsidiary of a Swedish multinational industrial corporation. This subsidiary is responsible for the corporation’s customer financing activities. In the thesis, we refer to these entities as the Division and the Corporation. The Division needed to find a new approach to finance its customer loan portfolio. Risk control and return maximization were important aspects of this need. The objective of this thesis is to devise and implement a method that allows the Division to make optimal funding decisions, given a certain risk limit. </p><p>We propose a funding approach based on stochastic programming. Our approach allows the Division’s portfolio manager to minimize the funding costs while hedging against market risk. We employ principal component analysis and Monte Carlo simulation to develop a multicurrency scenario generation model for interest and exchange rates. Market rate scenarios are used as input to three different optimization models. Each of the optimization models presents the optimal funding decision as positions in a unique set of financial instruments. By choosing between the optimization models, the portfolio manager can decide which financial instruments he wants to use to fund the loan portfolio. </p><p>To validate our models, we perform empirical tests on historical market data. Our results show that our optimization models have the potential to deliver sound and profitable funding decisions. In particular, we conclude that the utilization of one of our optimization models would have resulted in an increase in the Division’s net income over the past 3.5 years.</p>

This thesis grew out of a problem encountered by a subsidiary of a Swedish multinational industrial corporation. This subsidiary is responsible for the corporation’s customer financing activities. In the thesis, we refer to these entities as the Division and the Corporation. The Division needed to find a new approach to finance its customer loan portfolio. Risk control and return maximization were important aspects of this need. The objective of this thesis is to devise and implement a method that allows the Division to make optimal funding decisions, given a certain risk limit. We propose a funding approach based on stochastic programming. Our approach allows the Division’s portfolio manager to minimize the funding costs while hedging against market risk. We employ principal component analysis and Monte Carlo simulation to develop a multicurrency scenario generation model for interest and exchange rates. Market rate scenarios are used as input to three different optimization models. Each of the optimization models presents the optimal funding decision as positions in a unique set of financial instruments. By choosing between the optimization models, the portfolio manager can decide which financial instruments he wants to use to fund the loan portfolio. To validate our models, we perform empirical tests on historical market data. Our results show that our optimization models have the potential to deliver sound and profitable funding decisions. In particular, we conclude that the utilization of one of our optimization models would have resulted in an increase in the Division’s net income over the past 3.5 years.

Reverse Logistics and Environmental Considerations in Equipment Leasing and Asset Management Manu Sharma 151 Pages Directed by Dr. Jane C. Ammons Today many business enterprises employ capital assets in the form of electronic equipment (e.g., personal computers, workstations and peripherals) in large quantities. As a result of rapid technological progress, these products have a very short life cycle, typically not much more than three or four years. Unfortunately, the disposal of electronic equipment (which contains hazardous materials) presents an environmental problem. In the face of rapid equipment changes, current tax laws and disposal challenges, leasing or procurement contracts with take-back considerations are attractive. For a large electronic equipment leasing company, optimal management of assets supported by good logistics decisions is crucial and may provide a significant competitive advantage. The leasing company tries to maximize operating profits through key decisions associated with the length of leases, efficient utilization of logistics facilities for material flow to and from customer sites, and equipment reuse, refurbishment and disposal actions. In this research, a mixed integer linear programming (MILP) model is developed to facilitate better decisions from the perspective of an electronic equipment leasing company. The model reduces to a linear program (LP) under certain cost assumptions. All computational results are based on the LP version of the model. A case study with representative industry data validates the approach and demonstrates the utility of the model in answering key research questions. Next, important problem uncertainties are identified and prioritized. The effects of these key uncertainties on optimal lease length and product flow decisions are examined in detail via an extended case study. It is also shown how the leasing company can make near-robust leasing decisions in the face of these uncertainties. The computational research results also have implications for policy formulation on electronic waste. The important insights include an understanding of the potential impacts and expected effectiveness of alternative environmental legislation in different geographic areas, and the imposition of negative externalities on other policy realms as a result of this non-uniform approach. Therefore, this research contributes new models and understanding to the intersection of the fields of reverse logistics and equipment replacement, and provides valuable insights to both business asset managers and environmental policy makers.