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Article
Publication date: 13 April 2010

Heidi Falkenbach

This paper aims to identify different organisation modes for international property investments and analyse the rationales for selecting each mode.

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Abstract

Purpose

This paper aims to identify different organisation modes for international property investments and analyse the rationales for selecting each mode.

Design/methodology/approach

The paper reports the findings of an interview study conducted among international investors in the Finnish property market.

Findings

The study identifies four main organisation modes for international property investments, the selection of each mode being dependent of the investors' perception of the informational barriers and local nature of the property market. Most of the interviewed investors also apply the same strategy in other markets they invest in, and thus the selection of the organisation mode seems not to be very dependent on the characteristics of the investment market.

Research limitations/implications

The paper analyses the organisation modes and their selection criteria only in the Finnish market.

Practical implications

The study indicates that informational barriers are still of major concern for the investors entering foreign markets. Thus, activities contributing to lowering these barriers would be beneficial for those markets wanting to attract international property investments.

Originality/value

The study is the first to analyse the organisation modes of international property investors.

Details

Property Management, vol. 28 no. 2
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some…

88430

Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Details

Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

Keywords

Abstract

Purpose

This chapter seeks to reveal what are the implications of the corporate social responsibility (CSR) debate on international investment law by focusing on the specific example of public health. The right to health is one of the human rights secured in international law and in the national legislation of a majority of States. This chapter will provide examples of investment cases concerning tobacco control measures, imposed by the Host States for the purpose of improving public health, though challenged by the tobacco companies under International Investment Agreements (IIAs) in investment tribunals. These specific examples cast rather general questions regarding the legal framework of international investment framework and its role in providing sufficient policy space for Host States to implement the public policies and to ensure that foreign companies adhere to the CSR standards.

Methodology/approach

In order to investigate what are the implications of the CSR debate on international investment law on the example of tobacco industry, the author performs a literature review and analyze two tobacco disputes and its possible implication on the public health debate and protection of foreign investors.

Findings

This case study illustrates the complex paradigm that interlink economic and human rights obligations of States on one side of the spectrum and property rights and social responsibilities of tobacco companies on the other side.

Originality/value of chapter

This chapter addresses a very topical and pertinent issue in public international law, namely: the role of public interest norms in the regime of foreign direct investment.

Details

Communicating Corporate Social Responsibility: Perspectives and Practice
Type: Book
ISBN: 978-1-78350-796-2

Keywords

Abstract

Details

Responsible Investment Around the World: Finance after the Great Reset
Type: Book
ISBN: 978-1-80382-851-0

Article
Publication date: 9 November 2012

Alexander J. Bělohlávek and Filip Černý

This article aims to deal with international investment disputes, with a focus on the nature of the law applicable to the merits of such disputes.

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Abstract

Purpose

This article aims to deal with international investment disputes, with a focus on the nature of the law applicable to the merits of such disputes.

Design/methodology/approach

The procedure for determining the law applicable in investment disputes, the phases of determination and the impact thereof on the applicable law were analyzed. The diagonality of the disputes and its impact on the law applicable to the merits from the perspective of the interaction between national and international law were also analyzed. Further, the authors focused on the nature of the host state's breach of obligations towards the investor anchored in the investment treaty, and the effect thereof on the law applicable to the merits. In this respect, the notion of the investment itself was analyzed according to the relevant BITs and MITs. Finally, the authors analyzed the applicability of the Ordre Public concept to investment disputes.

Findings

The study provided practical demonstrations and examples of choice of law and application issues as resolved by the tribunals established under the ICSID.

Research limitations/implications

The article deals mainly with the ICSID proceedings. Another should be also analyzed.

Originality/value

The paper provides a new insight into issues of the law applicable to investment disputes by analyzing this problematic in relation to all stages of investment arbitration proceedings. Particularly it took an innovative approach in shedding light on and analyzing the applicability of the Ordre Public concept in relation to investment protection, especially in relation to Article 52 of the ICSID Convention, and the recognition and enforcement proceedings of arbitral awards issued in the course of investment arbitration.

Details

International Journal of Law and Management, vol. 54 no. 6
Type: Research Article
ISSN: 1754-243X

Keywords

Open Access
Article
Publication date: 12 February 2020

Sabah Ahmd Farag

This theme will be addressed through main points: Special Nature of Investment Disputes and its methods of peaceful settlement. International legal framework governing Arbitration…

6672

Abstract

Purpose

This theme will be addressed through main points: Special Nature of Investment Disputes and its methods of peaceful settlement. International legal framework governing Arbitration in investment disputes: A. Multilateral legal framework. B. Bilateral legal framework/Investment promotion and protection agreementsTypes of arbitration in investment disputes. The Egyptian experience in investment disputes arbitration. The National legal framework. Egypt on the map of investment disputes in the world. A case study. Conclusion: Results related to the legal framework regulating investment disputes in Egypt. Results related to The arbitration cases against Egypt.

Design/methodology/approach

The researcher investigates the subject of international arbitration in investment disputes in the framework of voluntary theory, which is based on the premise that the satisfaction of people who are addressing the international legal norm is the basis of the same rule. In other words, the basis of international law is based on the satisfaction of the State and other international legal persons Both, and then express or implied consent.

Findings

Despite the availability of domestic and regional arbitration mechanisms in Egypt represented by a large number of cases.

Research limitations/implications

The theme for the study primarily on Egypt and the international arbitration of investment disputes, through theoretical and practical study of disputes arbitration which Egypt is a party defendant in which to focus on what was issued in which the provisions of the International Center for Settlement of Investment Disputes, in an attempt to find out the reasons for the verdicts image released it, where it came mostly against Egypt, and whether these judgments against them in investment disputes due to reasons related to the legal framework of the arbitration process, or for reasons of bodies of arbitration issued by those provisions, or to the defense, which represents the Egyptian party, or to the circumstances Economic and political (which represents the investment climate).

Originality/value

The proposed solutions to improve the conditions and factors surrounding the arbitration disputes that Egypt is waging against foreign investors, whether they are initially alleged or accused of drafting agreements and contracts, through amending the relevant legislation and laws, selecting arbitration bodies and defense bodies.

Details

Review of Economics and Political Science, vol. 8 no. 6
Type: Research Article
ISSN: 2356-9980

Keywords

Article
Publication date: 1 March 2001

K.G.B. Bakewell

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18;…

14406

Abstract

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.

Details

Property Management, vol. 19 no. 3
Type: Research Article
ISSN: 0263-7472

Article
Publication date: 9 August 2021

Terence Y.M. Lam and Calvin Chen

Higher education is now one of the biggest export sectors in the Australian economy. Purpose-built student accommodation (PBSA) has emerged as a new asset class in Australia, as…

Abstract

Purpose

Higher education is now one of the biggest export sectors in the Australian economy. Purpose-built student accommodation (PBSA) has emerged as a new asset class in Australia, as demanded by international and domestic students. As of 25 October 2020, there were still approximately 400,000 onshore international students and 135,000 offshore students despite the COVID pandemic. Various universities remain optimistic about their returns to Australia. Active PBSA investors remain focussed on the longer-term fundamentals and return of the Australian student market. This study aims to examine the investment potential of the PBSA sector in Sydney.

Design/methodology/approach

The triangulation method was used to confirm whether the literature findings on the high potential of PBSA investment apply to the context of the Sydney market. Qualitative expert interviews with two directors of major international real estate consulting firms, one private family trust investor and one director of a development company, were conducted in tandem with a qualitative multiple-case study of three major PBSAs via interviews with their building managers. These selected participants broadly covered the stakeholder settings across the industry.

Findings

A positive and solid trend of demand and rental growth was confirmed by the expert interviews and the performance of PBSA cases in Sydney, as supported by the growing number of international students in the longer term. To enhance the rental growth, and hence total returns, self-contained studio-type accommodation with quality facilities and social support should be provided, and operators should consistently track the needs of students and provide them with a better living experience.

Research limitations/implications

PBSA is a new asset class and there have been limited supply and sale transactions to enable detailed examination of the capital growth, so this research has focussed on rental growth. When the PBSA market becomes more mature, further research should be conducted to analyse the strength of this emerging investment’s capital growth and total returns.

Practical implications

In the longer term, PBSA is a low-risk property investment with potentially high returns in Sydney. Institutional investors and real estate consultants can make informed decisions to build up the property portfolio. PBSA is capital-intensive and has low liquidity, so this type of investment is particularly suitable for institutional investors.

Social implications

Universities should provide more suitable PBSA accommodations by themselves or partnerships with private developers. Planning authorities should include more PBSA residential uses in the land zoning plan. This is to provide more affordable accommodations to meet the demand of cost-sensitive students.

Originality/value

This research confirms PBSA is a low-risk investment with potentially high returns within the context of the Sydney market. The findings will benefit the major stakeholders of PBSA in their investment decisions, including investors, developers and universities.

Details

International Journal of Housing Markets and Analysis, vol. 15 no. 4
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 18 October 2019

Rao Qasim Idrees, Rohimi Shapiee and Haniff Ahamat

The phenomena of arbitral forum shopping to resolve a commercial investment dispute is still under development and more complicated in many states. However, for Pakistan, it seems…

Abstract

Purpose

The phenomena of arbitral forum shopping to resolve a commercial investment dispute is still under development and more complicated in many states. However, for Pakistan, it seems in an evolutionary phase, where the country is struggling hard to adopt the best practice of dispute resolution through forum shopping clauses. This struggle is even more inflated with huge Chinese investment through China Pakistan economic corridor (CPEC) projects in Pakistan, which come alongside with commercial investment disputes. For this purpose, the current treaty or contract-based system between China and Pakistan and litigation based domestic civil court structure look obsolete, hence, appear to require reinstatement of forum shopping clauses under concerned treaties or contracts for CPEC investment-related issues.

Design/methodology/approach

The authors choose a legal research method. The research design is a comparative analysis between CPEC contracts and dispute resolution mechanism between China and Pakistan and also the domestic civil court’s litigation system. This analysis selected by the authors due to inefficient bilateral investment arrangements and efficient resolution of future commercial disputes in CPEC. While the international arbitration system is included in the assessment were particular in the time and space context. The comparison comprises on dispute resolution clauses in free trade agreement (FTA) and bilateral investment treaties (BIT) between China and Pakistan and the system of resolving disputes by CPEC clauses.

Findings

The authors finds that in the absence of CPEC forum shopping clause under dispute resolution system, Pakistan is highly at risk to lose foreign investors, and therefore, set back the goal of long term economic sustainability in the region. However, China has already made its investment policies safer with establishing three international commercial courts (also referred to as Belt and Road courts), one in Xi’an for the land-based Silk Road Economic Belt, one in Shenzhen for the Maritime Silk Road and one in Beijing that will serve as the headquarters. These courts will be offering litigation, arbitration and mediation services. According to one view, China aims to have all belt and road initiative (BRI) disputes resolved by these courts. This makes Pakistan position more awkward and needs proactive measures, as CPEC investment is based on Pakistan foreign direct investment policies and legal structure. Therefore, it will be complicated and less favourable for Pakistan to deal with such cases under Chinese Courts.

Originality/value

The paper’s primary contribution is finding that comprehensive analysis of alternative dispute resolution mechanism between China and Pakistan over CPEC investment is inevitable. A socio-legal research combine with an examination of Singapore International Commercial Court functions and mechanism and CPEC plans further contributes to ascertain the best model of the settlement of commercial disputes under investments in Pakistan. This research paper anticipates future economic and legal problems, which Pakistan may encounter.

Details

Journal of International Trade Law and Policy, vol. 18 no. 3
Type: Research Article
ISSN: 1477-0024

Keywords

Article
Publication date: 1 March 1999

Patrick McAllister

This paper analyses trends in direct international property investment by British investing institutions in the 1980s and 1990s. Although it is well established that there is home…

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Abstract

This paper analyses trends in direct international property investment by British investing institutions in the 1980s and 1990s. Although it is well established that there is home country bias in all investment sectors, evidence is presented which suggests that it is more pronounced in the direct property sector. The main focus is on barriers to international property investment and, therefore, potential sources of segmentation in the property sector. The research addresses a number of issues relating to levels of international property investment, the linkages between the nature of the core business and investment strategies and the relative importance of high diversification costs. This is carried out by an analysis of the most recent data on British institutional investment trends and by a survey questionnaire of British property professionals involved in asset allocation decisions for the investing institutions. The results indicate that: information costs are the most important barrier to international direct property investment, the high cost of executing a global diversification strategy inhibits international property investment, and institutions who have clients and see business opportunities in international centres are more likely to be interested in international property investment opportunities. The data on asset allocation trends support the view that the property market is significantly less integrated than the other securities markets.

Details

Journal of Property Investment & Finance, vol. 17 no. 1
Type: Research Article
ISSN: 1463-578X

Keywords

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