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The aim of this study is to shed light on the relative importance of Chinese (Mainland China and Hong Kong: CH-HK) foreign direct investments (FDIs) in real estate (FDIRE) on the dynamics of Asia-Pacific (APAC) public real estate markets after the Global Financial Crisis.

Using a parsimonious real estate asset-pricing model including macroeconomic risk factors, the authors develop a metric to measure FDIs in the real estate sector. The authors use a panel VAR approach based on robust econometric methodology (generalized method of moments) and deal with potential endogeneity and an eventual causality problem. The authors also compute multiple metrics to measure the Chinese, US and Japanese FDIs in the real estate sector.

The study results report a positive significant impact of CH-HK FDIRE on APAC public real estate returns, while FDIRE originating from outside China are not significant. The authors also show that Chinese investors use the channel of FDIs in Diversified Listed Property Companies (LPCs) and Hotel and Family LPCs to gain exposure to the APAC real estate markets. The study results suggest that APAC property markets are mainly impacted and emphasize the importance of an intercontinental diversification strategy for investors in LPCs in the APAC region.

Contrary to Bond et al. (2003) who identified that APAC public real estate markets were overwhelmingly idiosyncratic in the decade preceding China's WTO membership (1990–2001), the study findings underline that Chinese FDIRE became a common factor affecting all eight markets in this study in the decade following the global financial crisis (2007–2017). The results emphasize the importance of an intercontinental diversification strategy for investors in LPCs in the APAC region.

The authors use a parsimonious model, introduce metrics to measure FDIRE and apply a panel VAR approach based on a robust econometric methodology to shed light on China's economic globalization strategy on Asia-Pacific public real estate markets after the GFC. The study results highlighting the major impact of CH-HK FDIRE on securitized real estate market returns dynamics, identify the existence of an Asian common factor driven by Chinese FDI inflows into neighbouring countries.

The purpose of this paper is to revisit the dynamic linkages between the US and the national securitized real estate markets of each of the nine Asian-Pacific (APAC) economies in time-frequency domain.

Wavelet decomposition via multi-resolution analysis is employed as an empirical methodology to consider time-scale issue in studying the dynamic changes of the US–APAC cross-real estate interdependence.

The strength and direction of return correlation, return exogeneity, shock impulse response, market connectivity and causality interactions change when specific time-scales are involved. The US market correlates with the APAC markets weakly or moderately in the three investment horizons with increasing strength of lead-lag interdependence in the long-run. Moreover, there are shifts in the net total directional volatility connectivity effects at the five scales among the markets.

Given the focus of the five approaches and associated indicators, the picture that emerges from the empirical results may not completely uniform. However, long-term investors and financial institutions should evaluate the time-scale based dynamics to derive a well-informed portfolio decision.

Future research is needed to ascertain whether the time-frequency findings can be generalizable to the regional and global context. Additional studies are required to identify the factors that contribute to the changes in the global and regional connectivity across the markets over the three investment horizons.

This study has successfully decomposed the various market linkage indicators into scale-dependent sub-components. As such, market integration in the Asia-Pacific real estate markets is a “multi-scale” phenomenon.

This study attempts to provide insight into the dynamics of the third party logistics (3PL) industry in the Asia‐Pacific (APAC) region.

The data reported in this paper were generated through a survey of the chief executive officer (CEOs) of ten of the largest 3PLs operating in the region.

Those companies anticipate substantial regional revenue growth, with nearly one‐quarter of that growth coming from acquisitions. Private equity (PE) investors have been active in the region, and the CEOs are divided as to whether that is a positive or negative development. Price compression, market entrance of foreign 3PLs, and increased pressure to internationalize services were identified as the most important regional market dynamics. Continued growth of intra‐Asian business and possible expansion of transportation services were cited as the most important regional opportunities. A continuing shortage of management talent, the region's regulatory structure, and inferior transportation services were cited as the most significant regional problems.

The region's growth prospects will promote further investments by 3PLs and PE companies. Regional transportation problems will continue to trouble 3PLs, and they must develop strategies to address shifting manufacturing patterns. The regional “talent shortage” will continue, and while 3PLs have taken steps to improve recruiting, training, and retention, there is little short‐term relief in sight. Regional buyers of 3PL services are becoming more sophisticated, and will likely place even more pressure on prices. Continued cost‐cutting measures and growing customer selectivity are the most likely reactions of 3PLs to that pressure.

The paper provides insight into the current status and future prospects of the third‐party logistics industry in the APAC region.

Blockchain and distributed ledger technologies are set to disrupt the real estate sector in all areas: ownership, sale, management and investment. Tokenization moves physical real estate to the digital space and could result in substantial cost savings in the pre- and post-tokenization process. This article discusses whether real estate as an asset class is ready for digitalization in the Asia-Pacific (APAC) region.

Globally, the APAC region has the highest digital adaptation/adoption rates. Regulators in the region are also moving fast to clarify their stance on digital assets. This article adopts a holistic view, from trends, regulations, and technology, to discuss the benefits and challenges of digitalizing real estate in APAC.

Real estate tokenization is a nascent market but platforms like BrickX, KASA, ADDX, and Minterest have successfully launched real estate tokens in Australia, South Korea, and Singapore, respectively. Tokenization may prove to be a viable funding source for those relatively poorly capitalized financial markets in the APAC region.

This paper discusses the current regulatory and business contexts in relation to the pace of tokenization of real estate in APAC. Opportunities and difficulties are outlined in a concise manner to facilitate more discussion in this area.

Existing reports and research articles tend to focus on the western markets. This article provides a new perspective on tokenization, specifically in the APAC context.

This paper aims to facilitate researchers, academicians and entrepreneurs gain insights on the social entrepreneurship concept and future research opportunities in the context of the Asia-Pacific countries (APAC).

The diversity of social entrepreneurship phenomenon visible in 101 journal publications was reviewed and analyzed to identify research perspectives and opportunities, with special focus on papers published on the APAC context between 1998 and 2015. The keywords for search were “social entrepreneurship”, “social enterprises”, “social entrepreneur” and the names of all countries in APAC.

The study identifies three prominent themes in need of more research in the APAC countries: contextual, institutional and personal factors surrounding social entrepreneurship; usage of market orientation by social enterprises to generate economic and social value; and impact of social entrepreneurship education on generating talent pool for social enterprises.

During the review on the social entrepreneurship concept, it was felt that most research originated from both sides of the Atlantic rather than the APAC. Interestingly, no review was found on research published on social entrepreneurship as perceived and practiced in APAC. Therefore, this paper would be of particular value to any researcher who would conduct social entrepreneurship research in the Asia-Pacific context. Asia-Pacific offers immense scope for empirical research for theory generation and theory testing in different contexts.

The study examines Asia Pacific (APAC) non-listed non-core real estate funds' capital calls (investor equity drawdowns) sequence for varying vehicle strategies.

Analysis starts with a cursory data interpretation that extracts a typical investors' equity drawdowns schedule. Thousands of simulations are then computed for each vehicle strategy for each year to further interpretation.

Data and methodological limitations notwithstanding, overall estimates suggest that funds exhibit a contrasting capital calls sequence. As a group, APAC non-core non-listed real estate funds call circa 76.3% of investors' committed capital during the first four years of the fund life. Single sector, single country and value added vehicles have a greater capital calls velocity compared to their multi sector, multi country and opportunity peers. However, the two fund groups exhibit a notable standard deviation heterogeneity of drawdowns.

Investors should therefore budget accordingly when choosing either of vehicle strategies to invest in.

The study adds additional evidence on the topic of capital calls velocity. Results should assist LPs with their non-listed APAC real estate funds investment programme further.

Retail payments systems are a key element in the financial infrastructure of any capitalist economy ‐ through them governments can enact economic policy and individuals and companies can conduct their transactions. A recent development for UK retail payments systems has been the recommendations of the ‘Review of Banking Services in the UK’ (the Cruickshank Report). In this report, recommendations are made as to the operation of the primary UK retail payments system (APACS); a new regulatory framework and the removal of ‘barriers to entry’ are proposed to encourage greater competition in the industry. This paper considers these two proposals, which have both received government support for early implementation, in terms of wider policy issues surrounding payments systems, including economic efficiency and safety and security, and the economic incentives which underpin the present retail payments system in the UK. It is concluded that the proposals for regulation of business activities to promote competition may underestimate the importance of payment system safety and security regulation. Equally, the proposed removal or substantial reduction in barriers to entry to individual payments systems may have a range of unforeseen consequences.

Argues that plastic card usage has risen dramatically over the last ten years, and that this increased use has led to an increase in plastic card crime. The Association for Payment Clearing Services (APACS) runs a nationwide Card Watch campaign, an education awareness programme which targets groups vulnerable to card crime such as women and motorists. The campaign also works in partnership with retail organizations and agencies such as the police, with a focus on card security and technology and the implementation of measures to make the distribution of cards more secure. The retail arena is particularly significant as three‐quarters of all plastic card fraud is committed at point of sale. Increased authorizations and the new UK National Merchant Alert Service will save millions, and research into new fraud prevention technology at point of sale is progressing. Retail assistance in helping to prevent card crime is vital. The banking industry awarded more than £7 million in 1992 to retail staff who stopped fraudulent transactions.

Motivated by the increasing momentum of environmental, social and governance (ESG) investing, this research aims to test the impact of ESG-related news on stock returns, comparing different geographical areas to check whether the cultural background makes any difference.

Using a classic event–study methodology, this study measures extra returns following the broadcast of positive or negative ordinary news concerning ESG issues using a panel of major international companies located in Europe, North America and the Asia-Pacific (APAC) region.

ESG news are interpreted differently in different geographical areas. In Europe, bad news matter more than good news and produce a negative price impact. In the USA, a mirror picture emerges: good news matter more than bad news and produce a negative price impact. In the APAC area, ESG news are no news and are not correlated to significant extra returns. This study also shows that ESG reputation plays an important role and affects the impact of news on equity returns.

Both managers and equity investors need to be aware of the potential magnitude and direction of stock market’s reactions to news concerning ESG matters, taking also into consideration the location of the firm and the moderating effect of ESG reputation. Sustainability cannot be ignored anymore and need to be included into information data set and decision-making processes.

This study adds to the current literature insights on how ESG-related news impact in different geographical contexts. This study finds that news of similar tone may produce divergent effect on stock returns according to the prevailing cultural and economic interpretation of sustainability investments.

Considers distribution in the financial services. Financial services providers face a wide choice in the combinations of channels that they can employ to market their products. Asserts that plastic cards are increasingly replacing paper cheques and credits and have become a key channel of distribution for the money transmission services. Continues by reviewing the possible advantages of chip‐based plastic payment cards. Discusses how they would allow all the different payment functions to be held on one piece of plastic and, therefore, provide complete financial management for the cardholder. Considers the adoption of plastic cards in the card centric countries of Japan and the UK.