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As they account for the largest share of employment and value added, services do not (or cannot) lie outside a Schumpeterian view of innovation phenomena. Of the various attempts at shedding more light on the mechanisms of innovation in service industries and firms, we consider the “reverse product cycle” to warrant special attention because of its highly thought‐provoking nature and its theoretical ambition. This article has two objectives: first, to present this interesting and still neglected theoretical study, and second, to evaluate on a theoretical and empirical level the extent to which Barras’ model meets the objective of a “theory of innovation in services”.

The purpose of this paper is to assess the duration of the UK commercial property cycles, their volatility and persistence to gauge future market direction.

The study employs a novel approach to dissect cycles in a form of a three-step algorithm. First, the Hodrick-Prescott de-trends the selected variables. Second, volatility (measured by the variance) screens periods of atypical fluctuations in the series. Finally, the series is regressed against its past values to assess the level of persistence. The sequential steps screen the length of the cycles in UK commercial property market to facilitate interpretation.

The estimates suggest that UK commercial property market follows an eight-year cycle. Combined modelling results indicate that the current market trend is likely to change over the coming year. The modelling suggests increasing probability of a market correction in late 2016/early 2017.

This updated appreciation of the UK commercial property cycle duration allows for better market timing and investment decision making.

The paper adds additional evidence on the contested issue of UK commercial property cycle duration.

This article seeks to offer an answer. It explores the criteria on which commercial property market participants can develop strategies in hugely challenging circumstances. For this purpose, a survey-based approach was developed with work conducted with property-market professional in the United Kingdom (UK), France, Germany and Sweden to produce a criteria-based tool supporting adaption to changing market circumstances.

The data have been analyzed using statistical analysis. The data's statistical analysis included Cronbach's alpha's application to evaluate the respondents' replies' reliability. A entral tendency test was used to identify the means of relevance of the criteria. The Mann–Whitney U test was used to determine potential material differences between the UK and other countries with Bonferroni corrections applied to minimize type-I errors.

Thirty characteristics have been identified that impact the dynamics of the commercial property market. Their relevance to the commercial property market was determined using a survey. The literature analysis showed that the researchers paid more attention to quantitative criteria and their comparison. The survey showed that the relevance of criteria to the commercial property market dynamics is unequal. However, the survey results showed that it is most important to pay attention to emotional criteria to adapt to uncertainty changing conditions. The problem of the environment has been on the agenda for the last four decades. Therefore, the fact that the results of the study showed that the environmental criteria are the least significant is unexpected.

The study involved economically developed countries of Europe. Extending the study's geographical scope would be valuable in revealing whether the same differences exist in other geographical areas (such as Australia or the USA).

The practical implication of the analysis may be to facilitate the decision-making process of either selecting a country for commercial property investment or selecting the most sensitive and relevant criteria for the decision-making.

Criteria for commercial property market performance which promote successful property investment have been developed. Moreover, the criteria affecting the commercial property market have been weighted by their relevance to the market and their sequence of relevance has been established. And finally, the developed criteria have been placed into five groups that could serve as a foundation for a macro-level assessment of commercial property market dynamics.

Feedback is a tool that informs students about their learning process and facilitates necessary changes. It looks for the students’ own perceptions of their performance and how to improve it, developing permanent learning skills vital for autonomous practice. It is useful for improving one’s performance, clinical skills, communication and treatment of patients. If carried out improperly, it causes a lack of motivation and a collapse in the teacher–student relationship. The purpose of this paper is to analyze the perceptions and experiences of the residents and graduates of the psychiatry specialty at the Universidad of Concepción with respect to the feedback received on their performance during their training.

The study was conducted using a qualitative approach of an exploratory, descriptive and interpretative nature that was also based on Grounded Theory. Ten in-depth voluntary interviews were conducted with residents-in-training and graduates from within the last two years of the Adult Psychiatry specialty at the Universidad of Concepción. Subsequently, the data were codified to create a theoretical model.

The interpersonal teacher–resident relationship, when based on collaboration and an openness to dialogue, is fundamental in producing effective feedback.

The limitations of this study were based mainly on the qualitative methodology used, so it is not possible to generalize the results. Although the above limitation, this study seems to reaffirm the importance of feedback for residents in training, so it would be advisable to reproduce it in various training contexts and extend it to the perception of the teachers involved. On the other hand, to follow this research line, it is essential to create instruments that facilitate the use of quantitative research methodology, which allows the generalization and comparison of results in different areas.

This research opens a first line of research regarding subjective experience when receiving feedback, which will allow the creation of instruments to objectify how it is being developed in different educational contexts and to propose strategies to standardize its realization.

There are no other studies of this type published. The originality of this research was that beyond the mention made about the known characteristics that a feedback must have to be effective, the participants gave special emphasis to the fact that it is a social relationship, which should be based on a horizontal interaction between two actors, in addition to promoting dialogue and mutual involvement in the task that brings them together. Thus it is an effective teaching strategy, fulfilling the objective of motivating the learning and autonomy of the resident.

Attempts to describe the determinants of rent. Describes the initial stages in the development of a regional office rent prediction model which uses readily available data and should aid the investment decision‐making process. Rejects cross‐sectional analysis, preferring time series approaches. Formulates a spatially disaggregated model which allows for delays between changes in user output and changes in user demand, and which reflects the variable adjustment rate between these two factors. Argues that the combined influence of the independent variables in the derived equation can explain up to 97 per cent of the variation in rent over the period examined.

This paper compares the gamma‐radioactivity values determined in an intertidal ecosystem on the Atlantic island of Barra in the Western Isles of Scotland in 1989 and 1994. Distinct differences in the accumulation values in different trophic levels were detected on each occasion, but, in the intervening five years between surveys, there have also been marked reductions in the gamma counts in many different organisms of each trophic level. Gamma‐radioactivity has continued to move through the sandy soils of the machair coastal dunes system, and hence away from the rooting zone of the vegetation. The decreasing gamma‐radioactivities noted point to a shoreline ecosystem that is recovering from the input of Chernobyl fallout.

The purpose of this paper is to evaluate the applicative potentiality of functional/self-responsive materials in aeronautics. In particular, the study aims to experimentally validate the enhancement of structural performances of carbon fibers samples in the presence of nanofillers, as multi-walled carbon nanontubes or microcapsules for the self-healing functionality.

The paper opted for a mechanical study. Experimental static and dynamic tests on “blank” and modified formulations were performed in order to estimate both strength and damping parameters. A cantilever beam test set-up has been proposed. As a parallel activity, a numerical FE approach has been introduced to assess the correct modeling of the system.

The paper provides practical and empirical insights about how self-responsive materials react to mechanical solicitations. It suggests that reinforcing a sample positively affects the samples properties since they, de facto, improve the global structural performance. This work highlights that the addition of carbon nanotubes strongly improves the mechanical properties with a simultaneous slight enhancement in the damping performance. Damping properties are, instead, strongly enhanced by the addition of self-healing components. A balanced combination of both fillers could be adopted to increase electrical conductivity and to improve global performance in damping and auto-repairing properties.

The paper includes implications for the use of lightweight composite materials in aeronautics.

This paper fulfills an identified need to study new lightweight self-responsive smart materials for aeronautical structural application.

Stock selection models often use momentum and analysts’ expectation data. We find that earnings forecast revisions and direction of forecast revisions are more important than analysts’ forecasts in identifying mispriced securities. Investing with expectations data and momentum variables is consistent with maximizing the geometric mean and Sharpe ratio over the long run. Additional evidence is revealed that supports the use of multifactor models for portfolio construction and risk control. The anomalies literature can be applied in real-world portfolio construction in the U.S., international, and global equity markets during the 1998–2009 time period. Support exists for the use of tracking error at risk estimation procedures.

While perfection cannot be achieved in portfolio creation and modeling, the estimated model returns pass the Markowitz and Xu data mining corrections test and are statistically different from an average financial model that could have been used to select stocks and form portfolios. We found additional evidence to support the use of Arbitrage Pricing Theory (APT) and statistically-based and fundamentally-based multifactor models for portfolio construction and risk control. Markets are neither efficient nor grossly inefficient; statistically significant excess returns can be earned.

The purpose of this paper is to review what is known about property cycles following the financial crisis of 2008.

The method is to review the literature on property cycles published since the 1930s, to examine the extent to which endogenous causes have been identified as distinct from exogenous factors that may have produced cyclicality resulting from weak adjustment mechanisms but not cycles.

Whilst there is broad consensus that the property market has delays in adjustment which produce oscillations resulting from external shocks, it is more difficult to identify endogenous causes of cycles, though there are some possible candidates, notably technical progress.

The slump after 2008 has cost savers and taxpayers dear, so better means of predicting cycles so that policy makers can mitigate them is desirable.

The debate about whether property cycles result from exogenous shocks or endogenous causes is in danger of being lost sight of. If the former, then the property industry is a channel through which external factors feed through to the economy, albeit magnified by weak adjustment factors. If there are endogenous causes, then policy makers would be unwise to overlook their potential destabilising impact on the economy.