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Shizhen Wang and David Hartzell
This paper aims to examine real estate price volatility in Hong Kong. Monthly data on housing, offices, retail and factories in Hong Kong were analyzed from February 1993 to…
Abstract
Purpose
This paper aims to examine real estate price volatility in Hong Kong. Monthly data on housing, offices, retail and factories in Hong Kong were analyzed from February 1993 to February 2019 to test whether volatility clusters are present in the real estate market. Real estate price determinants were also investigated.
Design/methodology/approach
Autoregressive conditional heteroscedasticity–Lagrange multiplier test is used to examine the volatility clustering effects in these four kinds of real estate. An autoregressive and moving average model–generalized auto regressive conditional heteroskedasticity (GARCH) model was used to identify real estate price volatility determinants in Hong Kong.
Findings
There was volatility clustering in all four kinds of real estate. Determinants of price volatility vary among different types of real estate. In general, housing volatility in Hong Kong is influenced primarily by the foreign exchange rate (both RMB and USD), whereas commercial real estate is largely influenced by unemployment. The results of the exponential GARCH model show that there were no asymmetric effects in the Hong Kong real estate market.
Research limitations/implications
This volatility pattern has important implications for investors and policymakers. Residential and commercial real estate have different volatility determinants; investors may benefit from this when building a portfolio. The analysis and results are limited by the lack of data on real estate price determinants.
Originality/value
To the best of the authors’ knowledge, this paper is the first study that evaluates volatility in the Hong Kong real estate market using the GARCH class model. Also, this paper is the first to investigate commercial real estate price determinants.
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Ken C. Snead, Wayne A. Johnson and Atieno A. Ndede-Amadi
Many studies, motivated by concerns for activity-based costing (ABC) implementation efforts being less than successful, have suggested that the lack of success in this area stems…
Abstract
Many studies, motivated by concerns for activity-based costing (ABC) implementation efforts being less than successful, have suggested that the lack of success in this area stems more from behavioral, as opposed to technical, factors. This concern for the behavioral aspects of systems implementation has also emerged from much of the more general information systems research examining determinants of implementation success. Accordingly, the purpose of this study is to determine if a popular process theory of motivation, expectancy theory, would be useful in explaining the motivation of managers to incorporate ABC information into their job. Data obtained from two experiments employing a judgment modeling methodology support the relevance of both the valence and force models of expectancy theory in this context. Further, the judgments provided by the subject managers suggest they perceive improved product cost accuracy as the most beneficial outcome of ABC use, followed by an equivalent appreciation for both an enhanced ability to communicate the underlying economics of the firm and to identify non-value-added activities. Additionally, subject managers exhibited a greater concern for the possibility that obtaining the data to maintain the ABC system would be difficult and costly than they did for concerns that the ABC information would increase the level of complexity of the information that they use.
Roger J. Calantone and Michael H. Morris
Regardless of the size of the firm, the sector of the transportation industry or the style of management, distribution runs on information. The sheer size and volume of today's…
Abstract
Regardless of the size of the firm, the sector of the transportation industry or the style of management, distribution runs on information. The sheer size and volume of today's distribution activities require a high degree of commitment to computer‐based technologies to support managerial decisions on a continuous basis.
Pierre-Yves Gomez and Peter Wirtz
The equal representation of employees on codetermined supervisory boards is one of the distinctive features of the German corporate governance system. This study aims to examine…
Abstract
Purpose
The equal representation of employees on codetermined supervisory boards is one of the distinctive features of the German corporate governance system. This study aims to examine the relevance of the frequent assumption according to which this system is rooted in a typically “German culture”.
Design/methodology/approach
This research applies Davis and Thompson’s (1994) mobilization theory as an interpretive grid to historical sources to reveal the determinants of the institutionalization of equal board representation in post-war Germany.
Findings
The present contribution reveals that the supposedly “German tradition” of board representation is a myth. The specific regime of codetermined supervisory boards is instead the outcome of the dramatic political and institutional circumstances of the late 1940s, which saw fierce struggles and the mobilization of various actors ranging from politicians and industrialists to trade unionists.
Originality/value
The German Catholic Church is shown to have played a significant, albeit seldom recognized, role in this search for institutional consensus. It acted as a broad-based “supporting institution”, positively influencing mobilization efforts in favor of board codetermination and ultimately enabling an agreement to be reached.
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Sean MacIntyre, Michael McCord, Peadar T. Davis, Aggelos Zacharopoulos and John A. McCord
The purpose of this study is to examine whether PV uptake is associated with key housing market determinants and linked to socio-economic profiles. An abundance of extant…
Abstract
Purpose
The purpose of this study is to examine whether PV uptake is associated with key housing market determinants and linked to socio-economic profiles. An abundance of extant literature has examined the role of solar photovoltaic (PV) adoption and user costs, with an emerging corpus of literature investigating the role of the determinants of PV uptake, particularly in relation to the built environment and the spatial variation of PV dependency and dissimilarity. Despite this burgeoning literature, there remains limited insights from the UK perspective on housing market characteristics driving PV adoption and in relation spatial differences and heterogeneity that may exist.
Design/methodology/approach
Applying micro-based data at the Super Output Area-level geography, this study develops a series of ordinary least squares, spatial econometric models and a logistic regression analysis to examine built environment, housing tenure and deprivation attributes on PV adoption at the regional level in Northern Ireland, UK.
Findings
The findings emerging from the research reveal the presence of some spatial clustering and PV diffusion, in line with several existing studies. The findings demonstrate that an urban-rural dichotomy exists seemingly driven by social interaction and peer effects which has a profound impact on the likelihood of PV adoption. Further, the results exhibit tenure composition and “economic status” to be significant and important determinants of PV diffusion and uptake.
Originality/value
Housing market characteristics such as tenure composition across local market structures remain under-researched in relation to renewable energy uptake and adoption. This study examines the role of housing market attributes relative to socio-economic standing for adopting renewable energy.
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The purpose of this paper is to determine whether the performance of the supporting activities is more influenced by information systems (IS) than the performance of the core…
Abstract
Purpose
The purpose of this paper is to determine whether the performance of the supporting activities is more influenced by information systems (IS) than the performance of the core competence.
Design/methodology/approach
A mail questionnaire survey was sent to alumni of a French business school working in the IS departments of firms. A sample of 100 French firms was collected.
Findings
The results of the study show that IS have relatively more influence on the performance of the core competence than on the performance of supporting activities, especially on the exclusivity and value creation components of the core competence.
Research limitations/implications
The majority of the firms are in the industry sector. It would be useful to replicate the findings across a sample of firms distributed equally among the service and industrial sectors for comparison purposes. Also, it would be interesting to study the performance of the core competence and supporting activities by using objective measures.
Practical implications
The paper reveals that the attitudes of top management and employees towards IS must be taken into account when integrating IS in firms.
Originality/value
Several studies were conducted to examine the impact of IS on the performance of firms. The paper examines the impact of IS on the performance of the core competence and supporting activities, a subject not yet explored.
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The purpose of this paper is to examine the effects of perceived transformational, transactional and laissez-faire (LF) leadership behaviours on both the effectiveness of the…
Abstract
Purpose
The purpose of this paper is to examine the effects of perceived transformational, transactional and laissez-faire (LF) leadership behaviours on both the effectiveness of the leader and satisfaction with the leader, as perceived by information technology (IT) subordinates in the Swiss financial sector.
Design/methodology/approach
In total, 182 IT professionals from 45 Swiss financial companies rated their perceptions using the Multifactor Leadership Questionnaire (MLQ 5X short). Results were evaluated using partial least squares based structural equation modelling.
Findings
Idealised influence (attributed) and individualised consideration as well as contingent reward (CR) leadership are positively related to effectiveness and satisfaction. LF leadership had a strong, significant negative effect on both outcomes. No augmentation effect of idealised influence and/or inspirational motivation over the effects of CR was found. These results are partly contradictory to findings of earlier studies. Additionally, stability problems/discriminant validity issues were found for some of the examined constructs.
Practical implications
Managers and leaders in IT departments in Swiss financial institutions should be advised of the possibly strong effects of CR on outcomes, together with the risks of potentially highly negative impacts of LF leadership, as well as the possible limitations of the stability and validity problems found. Leadership training could be used to this end. The paper gives specific advice on how the different findings could be included in such training.
Originality/value
IT can significantly contribute to a firm’s success, and leading people who deliver technology is becoming more important in an increasingly digitised world. No previous research has illustrated the effects of leadership behaviours on IT departments in Swiss companies.
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