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Article
Publication date: 29 March 2024

Sharmila Devi R., Swamy Perumandla and Som Sekhar Bhattacharyya

The purpose of this study is to understand the investment decision-making of real estate investors in housing, highlighting the interplay between rational and irrational factors…

Abstract

Purpose

The purpose of this study is to understand the investment decision-making of real estate investors in housing, highlighting the interplay between rational and irrational factors. In this study, investment satisfaction was a mediator, while reinvestment intention was the dependent variable.

Design/methodology/approach

A quantitative, cross-sectional and descriptive research design was used, gathering data from a sample of 550 residential real estate investors using a multi-stage stratified sampling technique. The partial least squares structural equation modelling disjoint two-stage approach was used for data analysis. This methodological approach allowed for an in-depth examination of the relationship between rational factors such as location, profitability, financial viability, environmental considerations and legal aspects alongside irrational factors including various biases like overconfidence, availability, anchoring, representative and information cascade.

Findings

This study strongly supports the adaptive market hypothesis, showing that residential real estate investor behaviour is dynamic, combining rational and irrational elements influenced by evolutionary psychology. This challenges traditional views of investment decision-making. It also establishes that behavioural biases, key to adapting to market changes, are crucial in shaping residential property market efficiency. Essentially, the study uncovers an evolving real estate investment landscape driven by evolutionary behavioural patterns.

Research limitations/implications

This research redefines rationality in behavioural finance by illustrating psychological biases as adaptive tools within the residential property market, urging a holistic integration of these insights into real estate investment theories.

Practical implications

The study reshapes property valuation models by blending economic and psychological perspectives, enhancing investor understanding and market efficiency. These interdisciplinary insights offer a blueprint for improved regulatory policies, investor education and targeted real estate marketing, fundamentally transforming the sector’s dynamics.

Originality/value

Unlike previous studies, the research uniquely integrates human cognitive behaviour theories from psychology and business studies, specifically in the context of residential property investment. This interdisciplinary approach offers a more nuanced understanding of investor behaviour.

Details

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

Keywords

Article
Publication date: 2 April 2024

Thomas Vogl, Marko Orel and Rianne Appel-Meulenbroek

This study aims to enrich our understanding of the characteristics of non-urban coworking spaces (CSs) that focus on corporate users, as well as the benefits that companies expect…

Abstract

Purpose

This study aims to enrich our understanding of the characteristics of non-urban coworking spaces (CSs) that focus on corporate users, as well as the benefits that companies expect to gain from incorporating those CSs into their corporate real estate (CRE) portfolios.

Design/methodology/approach

This study leverages a series of in-depth interviews with owners and managers of CSs in non-urban locales that focus on serving corporate clients.

Findings

The research reveals various CS characteristics and forms within non-urban areas, focusing on corporate clients. It suggests that implementing a CS in corporate premises is perceived to enhance CRE use-value strategies with a focus on the employee's well-being, innovation and the attraction of talents. Moreover, exchange-value strategies with a focus on portfolio flexibility may benefit from the implementation of a CS. However, strategies related to life-cycle cost optimization or gains are not perceived to be supported. Social events for the surrounding neighborhood and the choice of location emerge as critical success factors for non-urban CSs. Besides infrastructure and connectivity, non-urban corporate-centric CSs built their location decisions rather on a personal connection to the location and place of residence of potential users than on lower rental prices.

Originality/value

This research pioneers in providing a comprehensive understanding of non-urban CSs, particularly in the context of their perceived implications for corporate real estate management. The nuanced perspectives it offers are invaluable for stakeholders looking to leverage CSs as part of their corporate strategies.

Details

Journal of European Real Estate Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-9269

Keywords

Article
Publication date: 22 August 2023

Umar Saba Dangana and Namnso Bassey Udoekanem

The rising concern for the accuracy of residential valuations in Nigeria has created the need for key stakeholders in the residential property markets in the study areas to know…

Abstract

Purpose

The rising concern for the accuracy of residential valuations in Nigeria has created the need for key stakeholders in the residential property markets in the study areas to know the level of accuracy of valuations in order to make rational residential property transactions, amongst other purposes.

Design/methodology/approach

A blend of descriptive and causal designs was adopted for the study. Data were collected via structured questionnaire administered to 179 estate surveying and valuation (ESV) firms in the study areas using census sampling technique. Analytical techniques such as median percentage error (PE), mean and relative importance index (RII) analysis were employed in the analysis of data collected for the study.

Findings

The study found that valuation accuracy is greater in the residential property market in Abuja than in Minna, with inappropriate valuation methodology as the most significant cause of valuation inaccuracy.

Practical implications

The practical implication of this study is that a reliable databank should be established for the property market to provide credible transaction data for valuers to conduct accurate valuations in these cities. Strict enforcement of national and international valuation standards by the regulatory authorities as well as retraining of valuers on appropriate application of valuation approaches and methods are the recommended corrective measures.

Originality/value

No study has comparatively examined the accuracy of valuations in two extremely different residential property markets in the country using actual valuation and transaction prices.

Details

Property Management, vol. 42 no. 2
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 28 March 2023

Martin Gutmann, Erik Jentges and Douglas MacKevett

The purpose of this paper is to describe an innovative approach to overcoming a common dilemma in designing negotiation simulations – that of situating a simulation in a real-life…

Abstract

Purpose

The purpose of this paper is to describe an innovative approach to overcoming a common dilemma in designing negotiation simulations – that of situating a simulation in a real-life or fictitious context. This binary choice, which the authors call the negotiation designer’s dilemma, has profound implications for the types of learning activities and outcomes that can be integrated into the overall learning experience. As a way of overcoming the trade-offs inherent in this dilemma, the authors developed what they term hybrid simulations, which blend elements of fact and fiction in its contextual design in a particular way.

Design/methodology/approach

The authors were part of a negotiation simulation design team that used Design Thinking to understand the negotiation designer’s dilemma and to prototype and test a corresponding solution.

Findings

This paper demonstrates the benefits, potential applications and the how-to of hybrid simulations within the context of two such simulations the authors have designed at two different Swiss business schools. This paper concludes by discussing the potential and limitations for the application of hybrid simulations, as well as areas of potential further development.

Originality/value

The concept of a hybrid negotiation is a novel design trick that can be used in a variety of negotiation simulation contexts.

Details

European Journal of Training and Development, vol. 48 no. 3/4
Type: Research Article
ISSN: 2046-9012

Keywords

Article
Publication date: 25 April 2024

Rahul Arora, Nitin Arora and Sidhartha Bhattacharjee

COVID-19 has affected the economies adversely from all sides. The sudden halt in production has impacted both the supply and demand sides. It calls for analysis to quantify the…

Abstract

Purpose

COVID-19 has affected the economies adversely from all sides. The sudden halt in production has impacted both the supply and demand sides. It calls for analysis to quantify the impact of the reduction in economic activity on the economy-wide variables so that appropriate steps can be taken. This study aims to evaluate the sensitivity of various sectors of the Indian economy to this dual shock.

Design/methodology/approach

The eight-sector open economy general equilibrium Global Trade Analysis Project (GTAP) model has been simulated to evaluate the sector-specific effects of a fall in economic activity due to COVID-19. This model uses an economy-wide accounting framework to quantify the impact of a shock on the given equilibrium economy and report the post-simulation new equilibrium values.

Findings

The empirical results state that welfare for the Indian economy falls to the tune of 7.70% due to output shock. Because of demand–supply linkages, it also impacts the inter- and intra-industry flows, demand for factors of production and imports. There is a momentous fall in the demand for factor endowments from all sectors. Among those, the trade-hotel-transport and manufacturing sectors are in the first two positions from the top. The study recommends an immediate revival of the manufacturing and trade-hotel-transport sectors to get the Indian economy back on track.

Originality/value

The present study has modified the existing GTAP model accounting framework through unemployment and output closures to account for the impact of change in sectoral output due to COVID-19 on the level of employment and other macroeconomic variables.

Details

Indian Growth and Development Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8254

Keywords

Article
Publication date: 23 April 2024

Raewyn Lesley Hills, Deborah Levy and Barbara Plester

Meetings with colleagues are an essential activity in workplace collaboration. The iterative nature of collaborative work demands spaces that team members can access quickly and…

Abstract

Purpose

Meetings with colleagues are an essential activity in workplace collaboration. The iterative nature of collaborative work demands spaces that team members can access quickly and easily. Creating suitable meeting spaces will become more critical if the hybrid work model continues and the workplace environment becomes the hub for face-to-face collaborative time, learning and training. Workspace and fit-out is expensive so it is crucial that the investment in meeting spaces supports employees’ collaboration activities.

Design/methodology/approach

This paper presents a case study of a corporate organisation undertaken in New Zealand to investigate how employees from two business units use their workspace to collaborate within their own team and across other teams in their organisation. The study uses ethnographic techniques, including participant observation and in-depth face-to-face interviews.

Findings

The findings show that the frequency and nature of small group work in collaboration was underestimated in the initial planning of the new workspace. Although participants found the design and fit-out of the formal meeting rooms supportive of collaborative work, the meeting rooms were in high demand, and it was difficult to find a room at short notice. The breakout spaces were confusing because they lacked key design attributes identified by the participants as conducive to small group work. Design shortfalls together with fit-out features perceived as supportive of collaborative work are identified.

Originality/value

The research reports on employees’ perceptions and experiences across two functionally diverse business units, reflecting their different needs and concerns.

Details

Property Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 8 April 2024

Rotimi Boluwatife Abidoye, Chibuikem Michael Adilieme, Albert Agbeko Ahiadu, Abood Khaled Alamoudi and Mayowa Idakolo Adegoriola

With the increased demand for the application of technology in property activities, there is a growing need for property professionals adept in using digital technology. Hence, it…

Abstract

Purpose

With the increased demand for the application of technology in property activities, there is a growing need for property professionals adept in using digital technology. Hence, it is important to assess the competence of academia in equipping property professionals with digital technology skills. This study, therefore, assesses property academics in Australian universities to identify their level of knowledge and use of digital technology applicable to the property industry.

Design/methodology/approach

Online questionnaire surveys were administered to 22 out of 110 property academics contacted through the Australia Property Institute (API) database to achieve this aim. The collected data were analysed using mean score ranking and ANOVA.

Findings

The study found that apart from databases and analytics platforms such as Corelogic RP data, price finder and industry-based software such as the Microsoft Office suite and ARGUS software, the academics were not knowledgeable in most identified and sampled proptech tools. Similarly, most proptech tools were not used or taught to the students. It was also found that early career academics (below five years in academia) were the most knowledgeable group about the proptech tools.

Research limitations/implications

Relying on the API database to contact property academics potentially excludes the position of property academics who may not be affiliated or have contacts with API, hence, the findings of this study should be generalised with caution.

Practical implications

The study bears huge implications for the property education sector and industry in Australia; a low knowledge and use of nascent tools such as artificial intelligence, machine learning, blockchain, drones, fintech, which have received intense interest, reveals some level of skill gap of students who pass through that system and may need to be upskilled by employers to meet the current day demand.

Originality/value

In response to the clamour for technology-inclined property professionals, this paper presents itself as the first to assess the knowledge levels and application of digital technology by property academics.

Details

Property Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-7472

Keywords

Open Access
Article
Publication date: 26 December 2023

Alexander Lapshun and Sergio Madero Gómez

This paper aims to answer the question of the future of work-from-home (WFH) from the position of productivity and employee well-being. In this research, the authors studied the…

Abstract

Purpose

This paper aims to answer the question of the future of work-from-home (WFH) from the position of productivity and employee well-being. In this research, the authors studied the future of WFH by analyzing perceived home productivity and work–life balance (WLB) in the WFH environment. This paper attempts to say that WFH is here to stay, and business leaders should acknowledge this fact and adjust their strategy.

Design/methodology/approach

The authors used a heterogeneous sampling method, surveying 1,157 employees in Mexico on productivity and WLB. The authors did three independent interventions in different pandemic stages: beginning – in 2020, peaking – in 2021, and calming down – in 2022. The authors used contingency table analysis to research the influence of perceived productivity and WLB in WFH on employees’ propensity to WFH.

Findings

The results show that employees perceive productivity the same or higher when WFH and WLB same or better. The findings of this study are a wake-up call for managers who refuse to embrace changes in employees’ perceptions and needs. Companies refusing to acknowledge the existing need for WFH may face significant challenges in terms of employee satisfaction and retention.

Originality/value

This study contributes to the broader literature by addressing whether WFH is here to stay. The dynamics of returning to office vary from country to country, industry to industry and business to business. This paper is an answer to the future of WFH for Mexico and the Latin American region.

Objetivo

Este artículo tiene como objetivo responder a la pregunta sobre la relevancia del futuro del trabajo desde casa (WFH por sus siglas en Inglés) desde la perspectiva de la productividad y el bienestar de los colaboradores. En esta investigación, se estudia el futuro del trabajo desde casa analizando la productividad percibida y el equilibrio entre la vida laboral y personal en el entorno del trabajo desde casa. Este documento intenta decir que el trabajo desde casa llegó para quedarse y que los líderes empresariales deberían reconocer este hecho y ajustar sus estrategias.

Diseño/metodología

Se ha utilizado un método de muestreo heterogéneo, encuestando a 1157 colaboradores que trabajan en México sobre el tema de productividad y balance vida-trabajo (WLB por sus siglas en Inglés). Se realizaron tres intervenciones independientes en diferentes etapas de la pandemia del COVID-19: al inicio (2020), un año despúes que fué el pico (2021) y finalmente cuando está a la baja y en calma (2022). Se utilizaron diversas herramientas estadísticas como el análisis de tablas de contingencia para investigar la influencia de la productividad percibida y el WLB en el trabajo desde casa en los colaboradores que son propensos a trabajar desde casa.

Resultados/hallazgos

Los resultados muestran que los colaboradores perciben la productividad igual o mayor cuando trabajan desde casa y el balance vida-trabajo son iguales o en ocasiones mejores. Los hallazgos de este estudio son para llamar la atención de los directivos y gerentes que se niegan a aceptar que han existido cambios y ajustes en las percepciones y necesidades de los colaboradores en las maneras de realizar el trabajo. Las empresas que se niegan a reconocer la necesidad existente de trabajar desde casa pueden enfrentar desafíos importantes en el corto plazo en términos de satisfacción y retención de los empleados.

Originalidad/valor

Este estudio contribuye para ampliar la literatura y poder abordar el tema de las modalidades de trabajo, en particular para profundizar si el trabajo desde casa (WFH) llegó para quedarse. Así mismo, se puede mencionar que la dinámica del regreso a las oficinas puede variar de un país a otro, de una industria a otra y de una empresa a otra, ofreciendo una variedad de reflexiones y puntos de vistas, finalmente este documento es una respuesta a la reflexión sobre el futuro del trabajo, los beneficios del trabajo en casa para México y para la región de LATAM.

Objetivo

Este artigo pretende responder à questão sobre a relevância do futuro do trabalho a partir de casa (WFH, Work from home, por suas siglas em inglês) na perspetiva da produtividade e do bem-estar dos colaboradores. Nesta investigação, o futuro do trabalho a partir de casa é estudado através da análise da produtividade percebida e do equilíbrio entre vida pessoal e profissional no ambiente de trabalho a partir de casa. Este artigo tenta dizer que o trabalho a partir de casa veio para ficar e que os líderes empresariais devem reconhecer este facto e ajustar as suas estratégias.

Desenho/metodologia

Foi utilizado um método de amostragem heterogêneo, pesquisando 1.157 funcionários que trabalham no México sobre o tema produtividade e equilíbrio entre vida profissional e pessoal (WLB). Foram realizadas três intervenções independentes em diferentes fases da pandemia da COVID-19: no início (2020), um ano após o pico (2021) e finalmente quando estava em declínio e calma (2022). Várias ferramentas estatísticas, como a análise de tabelas de contingência, foram utilizadas para investigar a influência da produtividade percebida e do WLB no trabalho em casa em funcionários propensos a trabalhar em casa.

Resultados

Os resultados mostram que os colaboradores percebem uma produtividade igual ou superior quando trabalham a partir de casa e que o equilíbrio entre vida pessoal e profissional é igual ou por vezes melhor. Os resultados deste estudo são para chamar a atenção de diretores e gestores que se recusam a aceitar que tenham havido mudanças e ajustes nas percepções e necessidades dos funcionários nas formas de fazer o trabalho. As empresas que se recusam a reconhecer a necessidade existente de trabalhar a partir de casa podem enfrentar desafios significativos a curto prazo em termos de satisfação e retenção dos colaboradores.

Originalidade/valor

Este estudo contribui para ampliar a literatura e poder abordar a questão das modalidades de trabalho, em particular para aprofundar se o trabalho em casa (WFH) veio para ficar. Da mesma forma, pode-se mencionar que a dinâmica de retorno aos escritórios pode variar de um país para outro, de uma indústria para outra e uma empresa para outra, oferecendo uma variedade de reflexões e pontos de vista. Em última análise, este documento é um resposta. para refletir sobre o futuro do trabalho, os benefícios de trabalhar em casa para o México e a região LATAM.

Article
Publication date: 8 September 2023

David D. Knoll A.M.

This study aims to investigate Australian civil tribunal decisions to ascertain compliance with decisional quality standards in Australian law, with a particular focus on strata…

Abstract

Purpose

This study aims to investigate Australian civil tribunal decisions to ascertain compliance with decisional quality standards in Australian law, with a particular focus on strata and community title cases.

Design/methodology/approach

An orthodox doctrinal legal analysis and assessment of cases and tribunal policies was adopted. All Australian jurisdictions were surveyed, including federal, state and territory jurisdictions. The case law in each jurisdiction was screened to identify whether the principles applicable to decisional quality were engaged and then analysed as to the extent of that engagement.

Findings

Where a party presents a substantial, clearly particularised argument relying upon established facts, tribunals are obliged to address those facts and the arguments by way of an active intellectual process. However, appellate decisions disclose a degree of deference not often accorded to judicial officers, and there is a need for a more disciplined approach to ascertain whether any errors have been made by a tribunal lie on the critical path to the decision. As strata and community title disputes become more complex, the importance of decisional quality standards can only increase.

Research limitations/implications

Up to date as of 1 March 2023.

Practical implications

The present position would appear to be that where a party presents a substantial, clearly particularised argument relying upon established facts, a tribunal must address its mind to those facts and the arguments by way of an active intellectual process. The requirement is limited to circumstances prescribed by a statute and factual and legal issues which are necessary to be determined in order for the tribunal to be satisfied as to circumstances prescribed by a statute. However, where the errors are not gross and plainly obvious, appeals from defective tribunal decisions are unlikely to succeed. There is a degree of deference not often accorded to judicial officers. That deference is unfortunate when tribunals are allocated jurisdiction over what quite often are significant property disputes.

Social implications

The impact on community living of uncorrected poor quality tribunal decisions can be immense, depending on the degree of error. For example, water ingress into people’s homes might remain unremedied for many years, as, for example, occurred in the Marinko case.

Originality/value

The research and analysis is entirely original. A search of journals and textbooks did not identify any prior analysis, at least in the Australian context, relating to decisional quality standards of tribunals.

Details

Journal of Property, Planning and Environmental Law, vol. 16 no. 1
Type: Research Article
ISSN: 2514-9407

Keywords

Open Access
Article
Publication date: 5 September 2023

Andrew Ebekozien, Clinton Ohis Aigbavboa and Mohamad Shaharudin Samsurijan

Though alternative building technologies (ABTs) have been encouraged to address accessible and affordable issues in low-cost housing (LCH) provision, their adoption is still…

Abstract

Purpose

Though alternative building technologies (ABTs) have been encouraged to address accessible and affordable issues in low-cost housing (LCH) provision, their adoption is still overwhelmed with encumbrances. The encumbrances that hinder ABT adoption require an in-depth study, especially in developing countries like Nigeria. However, studies regarding ABT and its role in improving Nigeria's LCH to achieve Sustainable Development Goal (SDG) 11 are scarce. This research investigates encumbrances to ABT adoption in Nigeria's LCH provision and suggests feasible measures to prevent or reduce the encumbrances, thereby improving achieving SDG 11 (sustainable cities and communities).

Design/methodology/approach

This research utilised qualitative research and adopted a face-to-face interview as the primary data collection. The interviewees comprised ABT practitioners and end users in Nigeria who were chosen by a convenient sampling technique. The study's data were analysed manually through a thematic approach.

Findings

This study shows that stakeholders should embrace ABT in LCH provision to improve achieving SDG 11 in Nigeria. Also, it clustered the perceived 20 encumbrances to ABT adoption in LCH provision into government/policymaker, housing developers/building contractors, ABT users and ABT manufacturers-related issues in Nigeria's context. This study suggested mechanisms to mitigate encumbrances to ABT adoption in LCH provision, thereby improving achieving SDG 11.

Originality/value

This research adds to the limited literature by analysing ABT adoption encumbrances in Nigeria's LCH provision, which could assist policy formulation for the uptake of ABT in LCH provision and improve achieving Goal 11.

Details

Engineering, Construction and Architectural Management, vol. 31 no. 13
Type: Research Article
ISSN: 0969-9988

Keywords

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