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The use of 501 c. 3 ‘conduit’ ownership and financing vehicles has emerged as an effective financing tool for the real estate needs of many tax‐exempt healthcare and higher education institutions. ‘conduit’ vehicles offer low‐cost, third‐party ownership and financing solutions to other not‐for‐profit 501 c. 3 healthcare and higher education institutions that do not wish to use their own debt to finance real estate assets or that wish to preserve working capital and bond debt capacity for activities that more directly support their core mission. When applied to specific types of property assets and properly structured and documented, these transactions can achieve both off‐balance sheet outcome under all applicable FASB accounting rules and ‘off‐credit treatment’ from the rating agencies reviewing these transactions. However, these balance sheet and rating agency outcomes are highly dependent on a number of considerations tied to the facts and circumstances of each specific transaction. The purpose of this summary is to describe the features and benefits of conduit transactions, along with their unique accompanying financial, accounting and rating agency issues.

This paper investigates the value for a preemptive right on the private houses for lease in Korea which were supplied at Pankyo and Heoungduk Area in February 2006 and May 2007.

Using the price of the houses in the neighborhood area. Bundang and Youngtong as proxy variable, we estimated the value of a preemptive right based on the binomial option pricing model.

Major results are summarized as follows: i. While a purchase of right for the case of Pankyo were profitable, the case of Heoungduk wasn't which was consistent with the historical competition results; ii. while the profitability for the Pankyo was stable across the variation of the parameters, Heoungduk was not. Finally, some policy implications and limitations of this paper were suggested.

Based on a case study of the pre-2020 Olympics renewal project in the city-center of Tokyo, this chapter examines the nature and impacts of urban renewal conducted by the Tokyo Metropolitan Government (TMG) in relation to social housing.

A qualitative case study approach is used based on interviews (with different stakeholders), and participant observation (at various local events or public assemblies) to analyze the impact of such urban renewal on social housing and its community.

The TMG has promoted urban renewal of city government-owned land in public-private partnerships by defending these projects as “win-win-win strategy among residents-business-city.” However, at the same time it has worsened the housing conditions of residents by causing their displacement or the deterioration of their housing environment.

The chapter shows us that the TMG’s justification for the urban renewal — would produce trickle-down effects and help the residents — doesn’t reflect what is really happening to the community. This will help us to have a better understanding of the reality and to critically discuss a more just urban and housing policy.

The chapter provides a complex insight on the “super-residualization” of social housing in Japan, characterized not only by the decrease in its number but also urban renewal providing business services and amenities for the middle and upper classes. This provides an interesting comparison with Western societies.

This paper aims to assess the overall social housing development, point out factors affecting it and propose some policy implications for social housing development.

The research investigated investors, credit institutions and officials involved in social housing development. Bac Ninh province currently has 51 social housing projects that have been and are being implemented. The hypothetical regression model has seven latent variables and is tested by the criteria through the SPSS25.0 software.

There are 29 factors belonging to seven groups affecting housing development. Their impact rates range from 3.47% to 30.25%.

The study has only identified the factors affecting social housing development but has not undertaken an in-depth assessment of its development status and forecast for the future. Therefore, this gap needs to be further studied. The proposed research method could also be applied when researching social housing developments in other countries around the world.

To develop social housing to meet the needs of the real estate market, it is necessary to improve the policies that have the strongest impact first. Then, it is necessary to improve the factors with a smaller impact.

The study proposes policy implications for faster housing development for low-income people that improve their living standards.

To the best of the authors’ knowledge, the paper has studied for the first time social housing development and the factors affecting it. The paper also shows the level of their impact so that priority policies can be applied to each factor.

This study aims to introduce the Youth Jeonse Rental Housing Program using the unique characteristics of the Korean housing market to explain its theoretical value in the current theoretical landscape of public housing and to identify the effect of the program on the regional housing price.

This study uses three hedonic price models on the basis of Korea’s housing market, namely, own, jeonse and rent models. Moreover, it uses the hierarchical linear model to include both house- and region-level variables.

Analysis shows that youth rental housing has no effect on falling prices in the region unlike long-term rental housing. Thus, the policies using regional tenure system are more effective in the social mix than existing public housing policies.

This study introduces the program using Korea’s unique tenure system called jeonse, arguing its advantages for the supplier, recipients and regional neighborhoods. Suppliers can easily provide affordable housing at a low economic and administrative cost, whereas recipients can easily mix socially, have broad housing choices and a fighting chance for a stable life. Additionally, this policy has a low negative impact on the region. Furthermore, this study theoretically presents the potential for mixed paths other than demand or supply policies. It introduces and analyzes special policy objectives for youth housing problems.

This paper aims to analyse the new standards on Sukuk which was issued by the Accounting and Auditing Organization for Islamic Financial Institution (AAOIFI) as a result of the strong critics posed by Shaykh Taqi in the end of 2007 that 85 percent of Sukuk issuance were not in line with the teachings of Shariah.

This study reviewed samples of Sukuk prior and after the new AAOIFI pronouncement by focusing on controversial areas such as ownership transfer, pricing and guarantee element. This paper used content analysis approaches to analyse the pronouncement and the samples.

The findings showed that there were negligible changes on the principle term and condition (PTC) of the Sukuk after the pronouncement, thus it did not have much effect in changing the Shariah Advisors and industry players when deciding more authentic principles and decisions.

Based on the findings, it is acceptable that the advisors tried their very best in making efforts to minimize controversial decisions as to suit current financial practices.

The purpose of this paper is to ask if customer experiences in public houses (pubs) go wrong because of poor initial and subsequent training for front-line staff, while questioning if enough is being made of employee engagement and socialization as a means to improve consistency within the pub service encounter.

The study applies a critical review of the literature with a focus on the initial and subsequent training of front-line employees in the context of managed and entrepreneur-led pub-retailing operations.

The delivery and impact of a well-designed initial training programme may not only enhance long-term employee engagement and loyalty, but also provide competitive advantage for pub-retail operations through a more consistent service delivery. The paper questions the suitability of the approach currently being adopted within the sector and suggests that change is needed in order to ensure the longer-term survival of pub-retail businesses.

Can reliable and consistent customer experiences be delivered without a more progressive approach to the initial training and engagement of front-line employees?

While the importance of initial and subsequent training is widely accepted, the potential for its poor delivery has an almost predictable impact on many customer experiences. The paper recommends a review of the methods used by managed house and entrepreneurial (tenanted and leasehold) pub-retailing businesses to enhance employee socialization, engagement and loyalty to fuel the sector’s drive to generate greater competitive advantage.

This paper aims to add to the existing body of literature on this subject by advocating how waqf-based entrepreneurship can be practiced in Malaysia.

The paper begins by presenting an overview of waqf and its role in entrepreneurship and proceeds by proposing a model of waqf-based entrepreneurship which is synthesized from various models existing in the Islamic world.

The paper concludes by recommending waqf-based entrepreneurship as an alternative socio-economic framework of society’s wellbeing.

The research is limited to the preliminary aspects of waqf entrepreneurship.

Waqf organization may be able to finance its own businesses through crowdfunding and other methods and also disburse waqf funds to small and large ventures.

The waqf system is a social tool that not only finances social development projects but also has social economic alternatives to assist poor and underprivileged groups in the society. This paper is toward such a socio-economic direction.

This paper might be considered the first attempt to detail the practical aspect of waqf entrepreneurship, in terms of enterprises to be financed, and how the funds to be accumulated.

This study aims to determine how the prices of residential properties in the Greek real estate sector are affected by their structural characteristics and by the prevailing economic factors during recession.

Based on 13,835 valuation reports for the city of Athens, covering a period of 11 years (2006–2016), this study develops a series of econometric models, taking into account both structural characteristics of the property market and the macroeconomic relevant variables. Finally, the city of Athens is divided into sub-regions and the different effects of the structural factors in each area are investigated via spatial analysis confirming the validity of the baseline model.

Findings show that the size, age, level, parking and storage space can explain the property price movements. Moreover, the authors find evidence that it is primarily house demand variables (e.g. the annual average wage, the unemployment rate, the user cost of capital, financing constraints and expectations about the future course of the house market) that affect house prices in a statistically significant manner and with the correct sign. Finally, using a difference-in-differences approach, this study finds that an increase in house demand (on account of net migration) led to higher house prices in smaller and older than in larger and younger apartments in areas with high concentration of immigrants.

This study uses a novel data set to help entities, individuals and policy-makers to understand how the recent economic and financial crisis has affected the real estate market in Athens.

Tourism in developing countries has grown rapidly in the past 20 years to the point where a fresh look at its underpinnings appears overdue. The industry itself realizes that the quality of growth is as important as quantity. Inevitably, growth and globalization have brought about a change in tourism's structure, driven by competition, consolidation among the main economic players and the revolution in information and technology. The recent Sommets du Tourisme, now in its third year, promoted by the Geneva/ Chamonix/ Mont Blanc tourism industry, took up these issues in December 5–7, 2001. This paper is a result of a presentation made at that Sommets du Tourisme on tourism, poverty and the World Bank Croup's role. The Bank Croup addresses tourism through its regular channels, including poverty reduction strategy papers (PRSP) and country assistance strategy process (CAS). Its interventions focus on public good issues, market failures, and gaps not filled by others. In this framework, this article reviews tourism as a sector that can contribute to sustainable development, including its economic, financial, social and environmental aspects. It argues that developing countries can compete favorably in world markets — they often have the framework conditions which give them a good opportunity to create the new products and services that consumers seek, often in as yet unspoiled areas. Growth and poverty are addressed, as are the policy conditions for making markets work, and assuring the sustainability of tourism's often all too fragile assets. Local communities are often left out of the decision‐making process that determines their future, leading to disenchantment with tourism; similarly, local communities may have difficulty dealing effectively with the burgeoning international travel industry. The paper underscores the importance of institutions, particularly the respective roles of government and industry, and partnership as a source of mutual inspiration. Some examples are offered here as illustrations of types of investment in sustainable tourism.