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This study aims to identify the pandemic’s impact on house rents by applying a rental gradient analysis to compare the pre-and post-COVID-19 periods in Auckland. The micro-level household census data from the Integrated Data Infrastructure of Statistics New Zealand is also applied to scrutinise this WFH trend as a robustness check.

Since the outbreak of COVID-19, work-from-home (WFH) and e-commerce have become much more common in many cities. Many news reports have contended that households are leaving city centres and moving into bigger and better houses in the suburbs or rural areas. This emerging trend has been redefining the traditional theory of residential location choices. Proximity to central business district (CBD) is no longer the most critical consideration in choosing one’s residence. WFH and e-commerce flatten the traditional bid rent curve from the city centre.

The authors examined micro-level housing rental listings in 242 suburbs of the Auckland Region from January 2013 to December 2021 (108 months) and found that the hedonic price gradient models suggest that there has been a trend of rental gradient flattening and that its extent was almost doubled in 2021. Rents are also found to be increasing more in lower-density suburbs.

The results imply that the pandemic has accelerated the trend of WFH and e-commerce. The authors further discuss whether the trend will be a transient phenomenon or a long-term shift.

Suppose an organisation is concerned about productivity and performance issues due to a companywide ability to WFH. In that case, some standard key performance indicators for management and employees could be implemented. Forward-thinking cities need to focus on attracting skilful workers by making WFH a possible solution, not by insisting on the primacy of antiquated nine-to-five office cultures.

WFH has traditionally encountered resistance, but more and more companies are adopting WFH policies in this post-COVID era. The early rental gradient and the micro-level household data analysis all confirm that the WFH trend is emerging and will likely be a long-term shift. Instead of resisting the change, organisations should improve their remote work policies and capabilities for this WFH trend.

So far, empirical studies of post-COVID urban restructuring have been limited. This study aims to empirically test such an urban metamorphosis by identifying the spatial and temporal impacts of COVID on house rental gradients in the Auckland Region, New Zealand. The authors apply rental gradient analysis to test this urban restructuring hypothesis because the method considers the spatial-temporal differences, i.e. a difference-in-differences between pre-and post-pandemic period against the distance measured from the city centre. The method can control for the spatial difference and the endogeneity involved.

The repeat sales house price index (HPI) has been widely used to measure house price movements on the assumption that the quality of properties does not change over time. This study aims to develop a novel improvement-value adjusted repeat sales (IVARS) HPI to remedy the bias owing to the constant-quality assumption.

This study compares the performance of the IVARS model with the traditional hedonic price model and the repeat sales model by using half a million repeated sales pairs of housing transactions in the Auckland Region of New Zealand, and by a simulation approach.

The results demonstrate that using the information on improvement values from mass appraisal can significantly mitigate the time-varying attribute bias. Simulation analysis further reveals that if the improvement work done is not considered, the repeat sales HPI may be overestimated by 2.7% per annum. The more quality enhancement a property has, the more likely it is that the property will be resold.

This novel index may have the potential to enable the inclusion of home condition reporting in property value assessments prior to listing open market sales.

The novel IVARS index can help gauge house price movements with housing quality changes.

Achieving a balanced tenant mix is a long-standing discourse in the retailing and consumer marketing literature. From the perspective of marketing mix planning, the diversity of tenants is beneficial to the performance of shopping malls. This paper aims to use a revealed preference approach to study empirically the effect of retail tenant mix planning on the rents of shopping malls.

This study adopts a cross-disciplinary approach to develop the Island-Species-Area-Energy model to study the shopping mall marketing and management framework. The empirical data are obtained from the 129 major shopping malls in the UK.

The results confirm that the retail tenant mix is positively associated with mall size and shopping district purchasing power, implying a tenant mix equilibrium. Any deviations from the tenant mix equilibrium will impose a negative impact on total retail rents. Further, five factors, i.e. tenant mix equilibrium, building quality, locational convenience, leasing strategy and anchorage, are found to be contributing factors to retail rents.

The findings contribute to the current body of marketing knowledge from two perspectives: first, tenant mix effects on retail rents are empirically analysed based on the biogeography theory, which shows a tenant mix equilibrium for retail marketing planning. Second, a five-factor model on shopping mall marketing and management mix framework is developed and tested for the performance of shopping malls.

This study hypothesises that sale and leaseback (SLB) cap rate is lower than the market cap rate in emerging economies, and the difference is due to institutional cost and vacancy risk. This study aims to provide a novel SLB-Cap-Rate Model to assess the performance of SLB transaction (SLBT).

SLBT data are generally not publicly available in developing countries. This study collected data from 31 SLBTs by conducting semi-structured interviews with stakeholders in Vietnam in 2019. The market cap rates were collected from consultants' reports. The hypotheses are tested by three regression models.

The results show that the SLBT cap rate is significantly less than the market cap rate in Vietnam, and most of the cap rate discount can be explained by institutional and risk factors. This suggests that SLBT helps to reduce search costs for tenants and vacancy risks. It explains why SLBTs are becoming more common in emerging countries.

The study has a strong practical implication for assessing the performance of SLBT for both buyers and sellers. It introduces a novel model for analysing the cap rates and potential risks of SLBT to facilitate property investment decisions.

This paper is one of the studies that contains new knowledge on SLBs in a developing country specifically Vietnam.

This article aims to examine one aspect of Chinese culture, guanxi. Guanxi, “special relationships” has long been employed to facilitate business in China. The authors ask whether this is likely to continue in the rapidly changing environment. China's long history of insularity has created a culture and business environment considered to be uniquely based on Confucian values. Yet in the last couple of decades China has opened its doors to globalisation. These forces, in conjunction with what many see as Confucian dynamism of Chinese entrepreneurship, have generated economic growth levels in excess of 11 per cent per annum. This blending of the old and the new raises questions about how practices may be changing.

The authors employed a survey of two groups; middle managers in Hong Kong and young middle class in mainland China. These groups represent the modern, Hong Kong as westernised; the old, but with new perspectives, the affluent middle classes of present day China. Open‐ended questions about perceptions of understanding and use of guanxi were asked.

The research finds many contrasts between the respondent groups. The Hong Kong respondents did not really understand guanxi, but still thought it important in China. The mainland group both understood and used guanxi, but similarly to the Hong Kong group, did not like it or enjoy its use. Both groups saw a diminishing application of guanxi as China's regulatory and market environment improves.

The paper establishes that guanxi persists and may remain essential in China. However guanxi will work in conjunction with markets and regulations, rather than as a replacement.

Drawing on institutional and transaction cost theories, the purpose of this paper is to examine the location choice for a sample of 522 foreign affiliates of Turkish multinational enterprises (MNEs).

Binary logistic regressions are conducted to test a number of hypotheses on the functional relationships between the hypothesized effect of variables and location choice of Turkish MNEs based on a secondary data drawn from official sources.

In general, the findings provide support for the majority of the study's hypotheses and tend to confirm the theoretical perspectives adopted. The level of political constraints, the level of knowledge infrastructure in the host country market, subsidiary density, industry R&D intensity and subsidiary size are found to have the expected impact on the Turkish MNE's location choice among geographic alternatives. No support is found for the impact of ownership mode of subsidiary and the group affiliation on Turkish MNEs' location choice for their subsidiaries.

The paper focuses on Turkish MNEs and the findings may not be generalizable to other emerging country (EC) MNEs. Also, the classification of geographic location into developed versus emerging countries may be too crude.

In general, the paper posits that Turkish MNEs have a motive of strategic asset seeking to enhance their global competitiveness when they enter developed countries, whereas they simply attempt to exploit their firm‐specific advantages or competencies when they access emerging countries.

Given the increasing number of EC MNEs entering other emerging and developed markets, this paper adds to the understanding of the determinants of location strategies of Turkish MNEs by identifying key regional characteristics that lead Turkish MNEs to select particular locations, among the several geographic alternatives.

The purpose of this paper is to make sense of the slow and frustrating process of democratization in Hong Kong through understanding the pan-democrats’ struggle for realizing universal suffrage. It aims to offer possible explanations for the current political impasse between Hong Kong and mainland China over the issue of universal suffrage.

This paper seeks to construct a triangular model of institutional constraint, clashing visions of democracy and mutual political distrust for understanding the pan-democrats’ struggle for realizing universal suffrage in Hong Kong since the 1980s, the nature of current political predicament they found themselves in and the current political impasse between the pan-democrats and Beijing.

The dilemma facing Hong Kong’s pan-democrats and Beijing’s leadership is attributed to the institutional constraints of Basic Law on Hong Kong’s system of governance, the clashing visions of Beijing-led Chinese-style democracy and Western-style liberal democracy as advocated by the pan-democrats and the mutual political distrust between the two parties. The findings suggest that this triangular model will remain relevant in understanding the political predicament of the pan-democrats under Chinese rule and the political impasse between Hong Kong and mainland China over universal suffrage for the coming decades.

This paper provides a new interpretation of the current political impasse between Hong Kong and mainland China over the issue of universal suffrage. It offers new insights into the nature of current political predicament the pan-democrats found themselves in amidst their fight for realizing universal suffrage since the 1980s by constructing a triangular model of institutional constraints, clashing visions of democracy and mutual political distrust.