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Open Access
Article
Publication date: 30 October 2023

Guido Migliaccio and Andrea De Palma

This study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real…

1670

Abstract

Purpose

This study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real estate companies divided into the three macro-regions: North, Centre and South, in the period 2011–2020. In this way, it is also possible to verify the responsiveness to the 2020 pandemic crisis.

Design/methodology/approach

The analysis uses descriptive statistics tools and the ANOVA method of analysis of variance, supplemented by the Tukey–Kramer test, to identify significant differences between the three Italian macro-regions.

Findings

The study shows the increase in profitability after the 2008 crisis, despite its reverberation in the years 2012–2013. The financial structure of companies improved almost everywhere. The pandemic had modest effects on performance.

Research limitations/implications

In the future, other indices should be considered to gain a more comprehensive view. This is a quantitative study based on financial statements data that neglects other important economic and social factors.

Practical implications

Public policies could use this study for better interventions to support the sector. In addition, internal management can compare their company's performance with the industry average to identify possible improvements.

Social implications

The research analyses an economic field that employs a large number of people, especially when considering the construction and real estate services covered by this analysis.

Originality/value

The study contributes to the literature by providing a quantitative analysis of industry dynamics, with comparative information that can be deduced from financial statements over the years.

Details

International Journal of Productivity and Performance Management, vol. 73 no. 11
Type: Research Article
ISSN: 1741-0401

Keywords

Open Access
Article
Publication date: 10 August 2022

Job Taiwo Gbadegesin

The purpose of this paper is to investigate how the pandemic affects tenants’ response to their lease obligations. This paper commences with examining the adopted tenant selection…

1494

Abstract

Purpose

The purpose of this paper is to investigate how the pandemic affects tenants’ response to their lease obligations. This paper commences with examining the adopted tenant selection criteria during the COVID-19 pandemic. Then, this paper statistically tests if there is a relationship between selection criteria and response on whether the pandemic has effects or not. Then, this paper investigates the specific areas of impact on tenants’ ability to adequately keep to lease agreements in the Nigerian rental market. Finally, this paper proceeds to confirm if there is a relationship between selection criteria and the aspects of tenants’ deficiencies in rental obligations because of COVID-19.

Design/methodology/approach

Survey data, backed with interviews, is elicited from practicing estate surveyors and valuers and licensed property managers in Lagos, the largest property market in Nigeria and sub-Sahara Africa. Policy solutions and implications were solicited from personnel at the ministry of housing and senior professionals in the property sector. Data were analyzed using descriptive statistics, factor analysis and computer-aided qualitative data analysis, Atlas.ti.

Findings

Tenant’s health status is now accorded a priority together with others. Numbers of tenants are challenged with keeping to the prompt-rent-payment rule. Other areas of slight breaches included livestock rearing, subletting, alteration and repair covenants. Except for tenant reputation and tenant family size, there was no significant relationship between tenant’s health status consideration and the COVID-19 effect on tenant non-compliance with lease obligation. Tenants’ non-compliance with tenancy obligations has a connection with the tenants’ affordability, reputation, ability to sign an undertaking and health conditions during the pandemic. This paper recommends rental housing policy review.

Practical implications

It is recommended that the rental policy should be reviewed to give room for rental allowance or palliatives, private rental market regulation, exploration of the national housing fund and, if possible, social housing adoption policy in Nigeria.

Originality/value

This paper draws policymakers’ attention to the need to prepare for the future safety net that caters to citizenry welfare in challenging times.

Details

Journal of Facilities Management , vol. 22 no. 3
Type: Research Article
ISSN: 1472-5967

Keywords

Open Access
Article
Publication date: 12 December 2023

Robert Mwanyepedza and Syden Mishi

The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary…

Abstract

Purpose

The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary policy shift, from targeting money supply and exchange rate to inflation. The shifts have affected residential property market dynamics.

Design/methodology/approach

The Johansen cointegration approach was used to estimate the effects of changes in monetary policy proxies on residential property prices using quarterly data from 1980 to 2022.

Findings

Mortgage finance and economic growth have a significant positive long-run effect on residential property prices. The consumer price index, the inflation targeting framework, interest rates and exchange rates have a significant negative long-run effect on residential property prices. The Granger causality test has depicted that exchange rate significantly influences residential property prices in the short run, and interest rates, inflation targeting framework, gross domestic product, money supply consumer price index and exchange rate can quickly return to equilibrium when they are in disequilibrium.

Originality/value

There are limited arguments whether the inflation targeting monetary policy framework in South Africa has prevented residential property market boom and bust scenarios. The study has found that the implementation of inflation targeting framework has successfully reduced booms in residential property prices in South Africa.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 7
Type: Research Article
ISSN: 1753-8270

Keywords

Open Access
Article
Publication date: 29 April 2024

Eric Kwame Simpeh, Matilda Akoto, Henry Mensah, Divine Kwaku Ahadzie, Daniel Yaw Addai Duah and Nonic Akwasi Reney

In the Global North, affordable housing has evolved and thrived, and it is now gaining traction in the Global South, where governments have been vocal supporters of the concept…

Abstract

Purpose

In the Global North, affordable housing has evolved and thrived, and it is now gaining traction in the Global South, where governments have been vocal supporters of the concept. Therefore, this paper aims to investigate the important criteria for selecting affordable housing units in Ghana.

Design/methodology/approach

A quantitative research approach was used, and a survey was administered to the residents. The data was analysed using both descriptive and inferential statistics. The relative importance index technique was used to rank the important criteria, and the EFA technique was used to create a taxonomy system for the criteria.

Findings

The hierarchical ranking of the most significant criteria for selecting affordable housing includes community safety, waste management and access to good-quality education. Furthermore, the important criteria for selecting affordable housing are classified into two groups, namely, “sustainability criteria” and “housing demand and supply and social service provision”.

Research limitations/implications

This study has implications for the real estate industry and construction stakeholders, as this will inform decision-making in terms of the design of affordable housing and the suitability of the location for the development.

Originality/value

These findings provide a baseline to support potential homeowners and tenants in their quest to select affordable housing. Furthermore, these findings will aid future longitudinal research into the indicators or criteria for selecting suitable locations for the development of low- and middle-income housing.

Details

Urbanization, Sustainability and Society, vol. 1 no. 1
Type: Research Article
ISSN: 2976-8993

Keywords

Open Access
Article
Publication date: 30 August 2022

Petteri Annunen, Juho Tella, Sini Pekki and Harri Haapasalo

This study describes how maintenance capability should be created during the design and construction phases of construction projects. Purpose of the abstract to define the…

1965

Abstract

Purpose

This study describes how maintenance capability should be created during the design and construction phases of construction projects. Purpose of the abstract to define the elements for creating the maintenance capability and the process to be used in construction life cycle projects for buildings.

Design/methodology/approach

An inductive and qualitative research method was used to construct the proposed process based on the literature and 18 interviews in two large construction companies.

Findings

The results indicate that the maintenance phase is usually overlooked during the design and construction phases, and capabilities are not systematically built. In particular, processes are lacking in data management, causing severe problems in maintenance.

Originality/value

This study presents a process including key requirements and activities for creating maintenance capability in conjunction with the design and construction phases, which is novel to the literature. The validated process can be adapted based on the needs of the construction company.

Details

Journal of Facilities Management , vol. 22 no. 3
Type: Research Article
ISSN: 1472-5967

Keywords

Open Access
Article
Publication date: 10 May 2024

Tal Berman, Daniel Schallmo and Sascha Kraus

To augment sales revenue, B2B digital start-ups aim to create and sustain commercial relationships with industry incumbents. However, since these incumbents have traditionally…

Abstract

Purpose

To augment sales revenue, B2B digital start-ups aim to create and sustain commercial relationships with industry incumbents. However, since these incumbents have traditionally struggled with implementing disruptive digital artifacts, most studies have almost exclusively concentrated on their challenges, leaving the digital start-ups' side underexplored. Therefore, this study seeks to understand how digital start-ups navigate digital implementation (DI) hardships to ultimately achieve digital entrepreneurship success.

Design/methodology/approach

An abductive explanatory multi-case study of four industries that pose a variety of implementation challenges for B2B digital start-ups (agriculture, insurance, real estate and construction, and healthcare) was conducted using data collected from 40 interviews with Israeli experts and relevant digital data observations.

Findings

This study articulates two main observations. (1) Throughout their journeys, digital start-ups have utilized newly created and/or refined dynamic capabilities (DC) to successfully implement their digital artifacts. Simultaneously, successful DI has enabled digital start-ups to create new DC or sustain and evolve current DC. (2) We provide empirical evidence outlining how digital start-ups using continuous learning have combined causation and effectuation logic throughout their DI journeys.

Originality/value

This study answers a call to explore more explicit digital-related drivers (i.e. DI) for digital entrepreneurship success by studying a highly-ranked country on the Global Entrepreneurship Index (GEI) to achieve this. Moreover, it illustrates how digital start-ups evolve throughout their commercial relationships with industry incumbents, thereby enabling an effective approach for successful DI. Such an approach can be considered very valuable for both practitioners and policymakers. Consequently, it advances digital entrepreneurship as an independent research topic.

Details

European Journal of Innovation Management, vol. 27 no. 9
Type: Research Article
ISSN: 1460-1060

Keywords

Open Access
Article
Publication date: 1 January 2024

Paola Maria Anna Paniccia, Gianpaolo Abatecola and Silvia Baiocco

How does the interaction between time and knowledge affect the evolution of organizations? Past research in organizational evolution has mostly investigated time and knowledge as…

Abstract

Purpose

How does the interaction between time and knowledge affect the evolution of organizations? Past research in organizational evolution has mostly investigated time and knowledge as two separate variables. In contrast, theoretical perspectives integrating these variables are still seemingly scant. The authors believe that filling this literature gap needs attention. Thus, this study aims to contribute by developing a conceptual framework.

Design/methodology/approach

This is a conceptual study. The framework is centred on the concept of “co-evolutionary time”, which the authors explain through a business example from the tourism industry. Supported by a narrative-based style, from a methodological point of view the framework is featured by the attempt to synthesize specific, extant literature into new theoretical development.

Findings

As its main theoretical contribution, the co-evolutionary time suggests how firms can adapt in a way that, from an evolutionary perspective, proves fitting both in terms of contents and methods, thus opening possibilities for new long-term social construction and reconstruction. As its main practical contribution, co-evolutionary time can constitute not only a temporary source of organizational success and competitive advantage but also an agent of enduring change and long-term business survival.

Originality/value

As its main novelty, the framework is developed through merging two literature streams. In particular, the authors first consider the literature about time, with a focus on its objective and subjective dimensions. The authors then consider the literature about organizational evolution, with a focus on the co-evolutionary nature of the firm/environment relationship.

Details

Journal of Knowledge Management, vol. 28 no. 11
Type: Research Article
ISSN: 1367-3270

Keywords

Open Access
Article
Publication date: 17 November 2023

Olof Wadell and Anna Bengtson

The purpose of this study is to develop a model of a starting situation for relationship initiation in turbulent business networks.

Abstract

Purpose

The purpose of this study is to develop a model of a starting situation for relationship initiation in turbulent business networks.

Design/methodology/approach

The study is designed as an extreme single case study that takes its point of departure in a company’s bankruptcy in the Swedish automotive industry.

Findings

This study illustrates how a new business relationship can start from a resource combination previously controlled by one actor (i.e. a single company) in a turbulent business network, thereby bringing nuances to the common understanding that new relationships start in stable business networks where resource combinations are developed between actors in established business relationships.

Originality/value

Previous studies have stated that the development of a mutual orientation between actors leads to the formation of a business relationship. The business relationship then leads to resource adaptations between the two companies. The developed model, however, illustrates that this pattern can be reversed in situations of turbulence. Hence, previously adapted resources might lead to the formations of a business relationship. Based on this observation, the authors argue that there are reasons to question if previous models of business relationship initiation and development in business networks are adequately equipped for analysis in turbulent business networks.

Details

Journal of Business & Industrial Marketing, vol. 39 no. 13
Type: Research Article
ISSN: 0885-8624

Keywords

Open Access
Article
Publication date: 21 March 2024

Aziz Wakibi, Joseph Ntayi, Isaac Nkote, Sulait Tumwine, Isa Nsereko and Muhammad Ngoma

The purpose of this study is to explore the interplay among self-organization, networks and sustainable innovations within microfinance institutions (MFIs) and to examine the…

Abstract

Purpose

The purpose of this study is to explore the interplay among self-organization, networks and sustainable innovations within microfinance institutions (MFIs) and to examine the extent to which organizational resilience plays a significant role in shaping these dynamics as a mediator.

Design/methodology/approach

This paper adopted a cross-sectional research design combined with analytical and descriptive approach to collect the data. Smart partial least squares structural equation modeling (PLS-SEM) was used to construct the measurement model and structural equation model to test the mediating effect under this study.

Findings

The results revealed that organizational resilience is a significant mediator in the relationship between self-organization, networks and sustainable innovations among microfinance institutions in Uganda.

Research limitations/implications

The data for this study were collected only from microfinance institutions in Uganda. Future studies may collect data from other formal financial institutions like commercial banks and credit institutions to test the mediating effect of organizational resilience. More still, the study adopted only a single approach of using a questionnaire. However, future research through interviews may be desirable. Likewise this study was cross-sectional in nature. Therefore, a longitudinal study may be useful in future while investigating the mediating role of organizational resilience traversing over a long time frame.

Practical implications

A possible implication is that microfinance institutions which desire to have sustainable innovative solutions for their business operations in disruptive circumstances may need to scrutinize their capacity to be resilient and self-organize.

Social implications

Microfinance institutions play a great role to the underserved clients. Thus, for each to re-organize to be able to provide services that meet users’ needs, without physical products so as to ensure long-term financial and social welfare combined with the ability to bounce back and adapt in times of economic downturn to avoid mission adrift.

Originality/value

While most studies have been carried out on organizational resilience, this paper takes center stage and is the first to test the mediating role of organizational resilience in the relationship between self-organization, networks and sustainable innovations, especially in microfinance institutions in Uganda. This paper generates strong evidence and contributes to the powerful influence of organizational resilience in enhancing the level of sustainable innovations based on self-organization and networks.

Details

IIMBG Journal of Sustainable Business and Innovation, vol. 2 no. 1
Type: Research Article
ISSN: 2976-8500

Keywords

Open Access
Article
Publication date: 26 January 2024

Annie Roos and Katarina Pettersson

The purpose of this study is to investigate the gendered ideas and ideals attached to an imagined ideal Entrepreneur in a post-industrial rural community in Sweden. While research…

Abstract

Purpose

The purpose of this study is to investigate the gendered ideas and ideals attached to an imagined ideal Entrepreneur in a post-industrial rural community in Sweden. While research has not yet clearly explained how the ideal entrepreneur is constructed, the result, i.e. the gendered representations of entrepreneurs, is well-researched. Previous results indicate a prevalent portrayal of entrepreneurship as a predominantly masculine construct characterised by qualities such as self-made success, confidence and assertiveness.

Design/methodology/approach

Ethnographic fieldwork was conducted in a community that is attempting to re-brand itself through garden tourism. Through inductive reasoning, this study analyses the gendered ideas and ideals regarding the community’s imagined ideal Entrepreneur who is to help the community solve its problems.

Findings

This study finds that the community forges the Entrepreneur into an imagined masculine ideal as holy, a saviour and a god and is replacing its historical masculine ironmaster with a masculine Entrepreneur. This study develops forging as a metaphor for the construction of the masculine ideal Entrepreneur, giving the community, rather than the entrepreneur himself, a voice as constructors. From social constructionism, this study emphasises how gendered ideas and ideals are shaped not only by the individual realities but more so in the reciprocal process by the realities of others.

Originality/value

The metaphor of forging adds an innovative theoretical dimension to the feminist constructionist approach and suggests focusing on how the “maleness” of entrepreneurship is produced and reproduced in the local. Previously, light has been shed on how male entrepreneurs perform their identities collectively; the focus of this study is on the social construction of this envisioned Entrepreneur within a rural community. The development of forging thus contributes as a way of analysing entrepreneurship in place. The choice of an ethnographic study allowed the authors to be a part of the real-life world of community members, providing rich data to explore entrepreneurship and gender.

Details

International Journal of Gender and Entrepreneurship, vol. 16 no. 2
Type: Research Article
ISSN: 1756-6266

Keywords

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