REVEALING THE INVESTMENT VALUE OF PENANG HERITAGE PROPERTIES

Heritage buildings are a representation of historic features and the Malaysian culture. The intangible value of a heritage property comprises aesthetic quality, spiritual aspects, social functions, and its own uniqueness. Therefore, heritage properties have been seen to be moving away from traditional alternative investments, which are not covered by conventional real estate schemes. Additionally, the characteristics of heritage properties are expected to be seen as ‘art’, and they offer a highly beneficial diversification strategy with a relatively low correlation towards traditional assets classes. The Penang (Island) Heritage Property Price Index (PPHPPI) is estimated to be using a hedonic regression method. Based on the index, the heritage property records the highest quarterly returns and risk among the conventional assets considered in this study.

The Importance of Global Financial Indices for Investors in Alternative Investment

Research background: One of the financial market indicators are very important global financial indices. These express the state and development of the market for certain investment instruments that form the basis of an index. These international financial indices are used to facilitate the process of making investment decisions for investors. Global equity indices are mainly popular with the investing public. However, global indices of alternative investments are less popular. The main problem with alternative investments is their low awareness among the investing public, including the fact that many investors are unable to assess their strengths and investment potential, which can lead to an increase in their assets. Some alternative investments are gaining in popularity especially in times of world financial crises, uncertainty and economic recessions, when their prices tend to rise as investors seek a safe haven to value or protect their free cash, especially from inflation. Purpose of the article: The aim of the article is to draw attention to the importance and advantages of selected alternative investment with the support of financial indices in the global environment, which is whiskey. Methods: Methods of analysis, comparison and synthesis were used in the article. The principles of logical thinking were also used to achieve the goal, especially in the application of scientific methods that follow each other. Findings & Value added: The main finding was that the examined international alternative indices focused on whiskey performed higher than the global equity financial indices in the monitored period.

Alternative financial instruments in the context of human-centered business development

The essential characteristics of alternative financial instruments that can be involved in the development of human-centered business are substantiated as the theoretical background within our article. The peculiarities and classification of alternative investments in the context of strengthening human-centric business are substantiated. The key parameters of attracting financial resources through different types of alternative investments are identified. The article provides the analysis of social bonds’ issuing process for human development and the structural components of the mechanism of social bonds’ implementation. Different forms of social bonds’ manifestation depending on the specifics of their use at the national level are considered. The process of implementing the mechanism of social bonds is considered as the complex of the following components, namely: material resources of investors who are interested in solving social problems; approved at the state or regional level program of coordination of efforts aimed at solving social problems; the obligation of public authorities or specialized funds to make payments to investors for social goals’ achieving. A matrix of mezzanine financing characteristics is constructed, where a comparative characteristic of mezzanine financing, direct investments and debt financing is given. Examples of the use of Islamic finance instruments that have a human-centric spectrum of action are given. Conclusions on the specifics of the use of alternative financial instruments at the global level are provided. The potential of alternative investment development in Ukraine is defined.