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The purpose of this paper is to study how project-level performance mediates the effect of project management assets on firm-level performance by examining the direct and mediated relationships between the project management process characteristics: valuable, rare, inimitable and organizationally supported on project-level and firm-level performance outcomes.

This paper analyzes data from an online survey completed by 198 North American Project Management Institute® members. Linear regression and Sobel Tests are used to examine the relationships between nine factors extracted from an exploratory factor analysis that comprise project management asset characteristics, one factor that comprises project-level performance outcomes, and one factor that comprises firm-level performance outcomes.

Not only does project-level performance positively and significantly affect firm-level performance, but project-level performance also significantly mediates the effect of project management asset characteristics (for all nine factors) on firm performance.

Limitations of this study include sample size and self-report bias, calling for a larger sample in ongoing research.

This study contributes to the stream of literature on project management assets as sources of competitive advantage and makes the case for sustained organizational investments in the project management process.

This paper contributes to the limited, but increasing interest in applying the resource-based view of the firm to project management capabilities as a source of competitive advantage.

The impact of the cognitive and demographic characteristics of top management teams (TMTs) on the strategic assets acquisition performance in organizations is evaluated. The evaluation measure is relative efficiency in converting generic inputs into valuable strategic assets using data envelopment analysis. Of the 12 TMT characteristics evaluated about three were statistically significant, and four were inconclusive. The study was performed on firms in the domestic airline industry.

Similar to real estate, infrastructure investments are regarded as providing a good inflation hedge and inflation protection. However, the empirical literature on infrastructure and inflation is scarce. Therefore, the purpose of this paper is to investigate the short- and long-term inflation-hedging characteristics, as well as the inflation protection associated with infrastructure and real estate assets.

Based on a unique data set for direct infrastructure performance, a listed infrastructure index, common direct and listed real estate indices, the authors test for short- and long-term inflation-hedging characteristics of these assets in the USA from 1991-2013. The authors employ the traditional Fama and Schwert (1977) framework, as well as Engle and Granger (1987) co-integration tests. Granger causality tests are further conducted, so as to gain insight into the short-run dynamics. Finally, shortfall risk measures are applied to investigate the inflation protection characteristics of the different assets over increasingly long investment horizons.

The empirical results indicate that in the short run, only direct infrastructure provides a partial hedge against inflation. However, co-integration tests suggest that all series have a long-run co-movement with inflation, implying a long-term hedge. The causality tests reveal reverse unidirectional causality – while real estate asset returns are Granger-caused by inflation, infrastructure asset returns seem to cause inflation. These findings further confirm that both assets represent a distinct asset class. Ultimately, direct infrastructure investments exhibit the most desirable inflation protection characteristics among the set of assets.

This study only presents results based on a composite direct infrastructure index, as no sub-indices for sub-sectors are available yet.

Investors seeking assets that are sensitive to inflation and mitigate inflation risk should consider direct infrastructure investments in their asset allocation strategy.

This is the first study to examine the ability of direct infrastructure to assess inflation risk.

Through its effect on the cost of capital, impact investing has the potential to improve the pricing of externalities, reducing the current overproduction and consumption of goods with negative social and environmental impacts and stimulating production and consumption of goods with positive social and environmental impacts. For this potential to be realised, the design of impact investing needs to be better aligned with portfolio management in two respects: (1) it needs to be possible to assess the impact of both asset classes and individual assets and (2) the analysis of the characteristics of assets needs to be separated from the use of mandate-related screens.

Firm assets are the most important element in strategy formulation and implementation. A company’s grounds to success can be found here. However, not all are equally important. Some will be considered strategic and others ordinary, depending on how influential they are when it comes to obtaining and appropriating rents, as well as how they hold up during a span of time. This will depend upon their relevance and scarcity, suitability and continuance, as well as on the difficulty encountered when they are to be imitated or substituted. The above features will depend on the characteristics that are intrinsic to the asset itself. These are heterogeneity and transparency, duration and mobility. The connections between the external factors and these internal characteristics will allow the presentation of a written explanatory model of the firm assets in the organisation’s success.

The valuation and pricing of information assets often presents managers with substantial challenges. Information assets are usually highly unique, lack objective price benchmarks, have a high potential for piracy, can be simultaneously accessed and enjoyed by multiple users and generally feature significant information asymmetry between sellers and buyers. This paper aims to discuss five methods that can be used to value/price information assets.

This is a conceptual paper that draws and builds upon the multidisciplinary pricing literature.

A tree diagram, one that matches particular combinations of information asset features with each of the five methods, is presented to assist practitioners with their choice of valuation/pricing method.

The pricing of information assets is a challenging and even daunting task. The linkages specified by the paper’s model, and in particular its matching of information asset characteristics with specific valuation/pricing methods, offers a decision tool that does not currently exist. This tool is capable of supporting practitioner decision-making and highlights avenues for future scholarly research.

This paper aims to examine the performance efficiency of 56 real estate assets within the rental sector in the UAE to evaluate the relative operation efficiency in relation to revenue generation.

The data envelopment analysis (DEA) approach was used to measure the relative operational efficiency of the studied assets in relation to the revenue performance. This method could produce a more informed and balanced approach to performance measurement.

The outcomes show that scores of efficiencies ranging from 7% to 99% in some of the models. The results showed that on average buildings are 75% relatively less efficient in maintenance, in term of revenue generation, than the benchmark set. Likewise, on average, the inefficient buildings are 60% relatively less efficient in insurance. Result also shows that 95% of the building assets in the sample are by and large operating at decreasing returns to scale. This implies that managers need to considerably reduce the operational resources (input) to improve the levels of revenue.

This study recommends that the FM operational variables that were found to inefficiently contribute to the revenue should be re-examined to test the validity of the findings. This is necessary before generalising or interpolating the results that are presented in this study.

The information obtained about operational performance can help FM managers to understand which improvements in the productivity of inefficient FM resources are required, providing insight into how to reduce operating costs and increase revenue.

This paper adds value in using new FM operational parameters to evaluate the efficiency of the performance of built assets.

The Resource‐Based View of the Firm (RBV) has become an important stream of literature in strategic management. RDV's main prescription is that strategic assets are crucial determinants of sustainable competitive advantage and thus firm performance. Unfortunately, little empirical research has been occasioned to substantiate that prescription. Part of the difficulty in empirically testing RBV's main prescription lies in identifying resources capable of being strategic assets. This article combines RBV logic, the definition of strategic assets, Hall's studies, and the logic embodied in several streams of management literature to explain why strategic assets are intangible in nature, to show that not all intangible resources are strategic assets, and to demonstrate that company reputation, product reputation, employee knowhow, and organizational culture possess the characteristics of strategic assets. That is the foundation for the proposed hypotheses and proposed conceptual model presented in this paper for testing RBV's main prescription. We also discuss the practical, theoretical and empirical implications of this paper and make suggestions regarding empirical testing.

Purchased goodwill conforms to the current accounting definitions of an asset. However, as the descriptive framework contained within this paper will show, purchased goodwill is not an asset and, therefore, should not be shown on the balance sheet. This would not necessarily matter, from a marketing viewpoint, was it not for the linkage of brand asset recognition to purchased goodwill asset recognition. Currently, the recognition of a purchased goodwill asset tends to be a prerequisite for the recognition of a brand asset extracted from it. If it can be shown that purchased goodwill is not an asset, then the prerequisite disappears. The widespread recognition of brand assets is then unfettered by its association with purchased goodwill. Weakening the basis for the recognition of a purchased goodwill asset is an important first step in encouraging the accounting profession to devise new ways of dealing with the different kinds of intangible assets that are becoming paramount in the governance of companies.

The purpose of this paper is to analyse stakeholders’ perceptions on the accounting of crypto-assets. They also look at the need to amend/clarify existing accounting standards or develop new accounting standards.

The authors use a qualitative approach featuring interviews with four stakeholder groups including academics, professional bodies, standard setters and accounting practitioners. Interview recordings are transcribed and then analysed through NVivo.

The interviewees identify various issues in the application of current accounting standards to crypto-assets. The interviewees perceive that the rapid development of crypto-assets and fluidity hinder the development of accounting guidance. Hence, continuous monitoring by standard-setters is required. The general consensus is that unless there are crypto-assets with economic characteristics and functionality that are pervasive enough to warrant a new accounting standard, principles of current accounting standards are robust to address gaps in accounting requirements for crypto-assets.

This study adds to the discussion on harmonising the current practices in accounting of crypto-assets. By examining perceptions of multiple stakeholder groups, this study provides insights into the applicability of current accounting standards to the classification, measurement and disclosure of crypto-assets. The findings will inform standard setters and aid their efforts towards providing formal guidance on the accounting of crypto-assets.