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Open Access
Article
Publication date: 29 April 2024

Evangelos Vasileiou, Elroi Hadad and Georgios Melekos

The objective of this paper is to examine the determinants of the Greek house market during the period 2006–2022 using not only economic variables but also behavioral variables…

Abstract

Purpose

The objective of this paper is to examine the determinants of the Greek house market during the period 2006–2022 using not only economic variables but also behavioral variables, taking advantage of available information on the volume of Google searches. In order to quantify the behavioral variables, we implement a Python code using the Pytrends 4.9.2 library.

Design/methodology/approach

In our study, we assert that models relying solely on economic variables, such as GDP growth, mortgage interest rates and inflation, may lack precision compared to those that integrate behavioral indicators. Recognizing the importance of behavioral insights, we incorporate Google Trends data as a key behavioral indicator, aiming to enhance our understanding of market dynamics by capturing online interest in Greek real estate through searches related to house prices, sales and related topics. To quantify our behavioral indicators, we utilize a Python code leveraging Pytrends, enabling us to extract relevant queries for global and local searches. We employ the EGARCH(1,1) model on the Greek house price index, testing several macroeconomic variables alongside our Google Trends indexes to explain housing returns.

Findings

Our findings show that in some cases the relationship between economic variables, such as inflation and mortgage rates, and house prices is not always consistent with the theory because we should highlight the special conditions of the examined country. The country of our sample, Greece, presents the special case of a country with severe sovereign debt issues, which at the same time has the privilege to have a strong currency and the support and the obligations of being an EU/EMU member.

Practical implications

The results suggest that Google Trends can be a valuable tool for academics and practitioners in order to understand what drives house prices. However, further research should be carried out on this topic, for example, causality relationships, to gain deeper insight into the possibilities and limitations of using such tools in analyzing housing market trends.

Originality/value

This is the first paper, to the best of our knowledge, that examines the benefits of Google Trends in studying the Greek house market.

Details

EconomiA, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1517-7580

Keywords

Open Access
Article
Publication date: 14 November 2022

Johnson Adetooto, Abimbola Windapo and Francesco Pomponi

This study aims to evaluate the perception of the local experts and end users on the drivers, barriers and strategies to the use of alternative building technologies (ABTs), with…

2874

Abstract

Purpose

This study aims to evaluate the perception of the local experts and end users on the drivers, barriers and strategies to the use of alternative building technologies (ABTs), with a focus on sandbag building technologies (SBTs) in the provision of sustainable housing in South Africa towards improving the public's understanding of SBTs.

Design/methodology/approach

This research adopted a qualitative approach that used focus group meetings as the primary data collection method for this study. This study's focus group participants comprised ABT experts and end users of ABT houses in South Africa who were selected using a convenient sampling technique. The data were recorded, transcribed verbatim and analysed using NVivo 11 software.

Findings

This study found that the perceived drivers to using ABTs such as SBT comprise sustainability, affordability, job creation potentials, fire-resistant and earthquake resistance. This study revealed strategies for the SBTs, including awareness, building sandbag prototypes across cities and training.

Practical implications

This study's findings have practical implications for the practice and praxis of ABT implementation and uptake in South Africa. This study provides a framework for broadening the worldwide understanding of use and uptake of SBTs to provide sustainable and affordable housing.

Originality/value

This study adds significantly to the limited body of knowledge on ABTs, focusing on sandbag houses. Consequently, the findings provide policymakers with information on the expert and end-user perspectives on the barriers and strategies to using ABTs.

Details

Journal of Engineering, Design and Technology , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1726-0531

Keywords

Open Access
Article
Publication date: 29 April 2024

Aryaning Arya Kresna, Pamerdi Giri Wiloso, Wilson Therik and Willi Toisuta

The paper aims is to see why social conflict caused by class segregation did not occur in Gading Serpong? What factors prevent conflict from occurring? This research seeks to find…

Abstract

Purpose

The paper aims is to see why social conflict caused by class segregation did not occur in Gading Serpong? What factors prevent conflict from occurring? This research seeks to find the causes of the nonoccurrence of social conflict due to class segregation in the Gading Serpong cluster area and explore the factors that restrain conflict there.

Design/methodology/approach

This research is qualitative research with data collection techniques through in-depth interviews with several parties identified as brokerages in the research object area. In this context, one of the media and analytical tools is to recognize agents or brokers who connect two groups of people. Brokerage occurs in sectors, patterns or forms of informal, personal relationships; to understand it, one must pay close attention to micro-level relationships and social psychological processes. However, brokerage can have a significant impact on macro-level social relations, as it is generally associated with social integration processes.

Findings

The lack of involvement of developers in overcoming social conflicts that occur between Gading Serpong natives and migrants in Gading Serpong housing has given rise to new actors. These new actors are what we can call brokers, where they have a role as brokers who are able to connect between migrants and natives in the Gading Serpong area. The broker phenomenon is actually familiar in academia, where in practice the broker acts as someone who is able to find solutions to problems. The broker is the reason even social segregation is created between migrant citizens and native citizens in Gading Serpong but never becomes a conflict between them.

Research limitations/implications

Even if the brokerage phenomenon is the reason why there is no conflict over social segregation brokerage is not the only factor in this nonconflict segregation. Therefore, to cover the larger area of these suburban segregation problems, there must be further research on this topic.

Practical implications

The practical implication of this research is to encourage the housing developers that create urban housing, such as clusters or other gated communities, to evaluate the social factors, such as potential segregation and conflict management. Also to encourage the developers to get involved and create some social engineering systems, like brokerage, market and other social agents, to create some nonconflict segregation or even more inclusive communities.

Originality/value

This research is uncovering the main reason why social segregation between migrant and native people in Gading Serpong, which could potentially lead to conflict, is never a conflict. The main reason is social actors like brokerage.

Details

Southeast Asia: A Multidisciplinary Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1819-5091

Keywords

Open Access
Article
Publication date: 21 November 2023

Marcos Aguiar, Jeff Kiderman, Harsha Chandra Shekar and Oliver Schilke

The purpose of this paper is to elaborate the significance of safeguards in digital ecosystems and their role in generating trust among participants. This paper argues that the…

Abstract

Purpose

The purpose of this paper is to elaborate the significance of safeguards in digital ecosystems and their role in generating trust among participants. This paper argues that the right mix and number of safeguards are crucial for an ecosystem’s growth and success. It offers ecosystem orchestrators concrete guidelines for how to implement and monitor safeguards.

Design/methodology/approach

This research is based on both consulting experience and publicly available information on several digital ecosystems.

Findings

This research conceptualizes safeguards as precautionary mechanisms that mandate or promote desirable behavior in an effort to engender trust among ecosystem participants. Safeguards can take various forms, including passwords, escrow, user privacy controls, ratings and reviews and policies and contracts. Striking the right balance of safeguards – neither too few nor too many – is crucial for ecosystem orchestrators. This paper identifies the factors that determine the optimal mix of safeguards, including the power asymmetry between sellers and buyers, the sophistication of participants, the nature of transactions, the cost of negative outcomes and the cost-benefit tradeoff.

Originality/value

To the best of the authors’ knowledge, this study is one of the first to illuminate the relationship between safeguards and trust in the context of digital ecosystem. It is also one of the few attempts to provide managerial guidance for ecosystem designers trying to structure their platform for trust.

Details

Journal of Business Strategy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0275-6668

Keywords

Open Access
Article
Publication date: 16 May 2024

Rickard Engström and Inga-Lill Söderberg

The purpose of this paper is to explore the relationship between formal ethics and ethics in practice in the empirical context of real estate agents (REAs) working in the…

Abstract

Purpose

The purpose of this paper is to explore the relationship between formal ethics and ethics in practice in the empirical context of real estate agents (REAs) working in the residential housing market, including owner-occupied houses and owner-occupied apartments, in Sweden. The paper investigates problems with the Swedish middleman model of real estate agency with regard to the acceptance among REAs of borderline professional behavior.

Design/methodology/approach

We report on a survey distributed to all Swedish licensed residential REAs to investigate their attitudes towards eight scenarios displaying borderline ethical behavior. Firstly, the means of each scenario were calculated, investigating signs of distance between formal ethics and ethics in practice. Secondly, logistic regressions were run for each scenario separately, thereby investigating factors affecting misconduct among REAs.

Findings

The empirical results show a clear difference between formal ethics and ethics in practice and also illustrate that some scenarios of borderline ethical behavior are creating greater problems for the REAs.

Practical implications

In Sweden, the seller is the principal, assigning the REA to sell a house or apartment, but the regulation is clear on the role of the licensed REA as responsible for promoting an informed and fair sales process where the buyer is safe to act without their own representative. Our study contributes with information to policymakers on possible areas for the development of the middleman model.

Originality/value

The paper is the first to empirically investigate the middleman model of a Swedish real estate agency in relation to the business ethics of the agents. The use of scenarios in close relation to the everyday working context of REAs as tests of ethics of practice is also of original methodological value to investigate possible diversions of professionals from national regulations.

Details

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

Keywords

Open Access
Article
Publication date: 22 January 2024

Rens van Overbeek, Farley Ishaak, Ellen Geurts and Hilde Remøy

This study examines the relationship between environmental building certification Building Research Establishment Environmental Assessment Method (BREEAM-NL) and office rents in…

Abstract

Purpose

This study examines the relationship between environmental building certification Building Research Establishment Environmental Assessment Method (BREEAM-NL) and office rents in the Dutch office market.

Design/methodology/approach

A hedonic price model was used to assess the impact of BREEAM certification on office rents. The study is based on 4,355 rent transactions in the period 2015 to mid-2022, in which 331 transactions took place in certified office buildings and 4,024 transactions in non-certified office buildings.

Findings

The results provide empirical evidence on quantitative economic benefits of BREEAM-certified offices in the Netherlands. After controlling for all important office rent determinants, the results show a rental premium for certified office buildings of 10.3% on average. The green premiums highly differ across submarkets and vary between 5.1 and 12.6% in the five largest Dutch cities. Additionally, the results show significant positive correlation between BREEAM-NL label score and rents, whereby better performing buildings generally command higher rents.

Originality/value

The study contributes to the current literature on green building economics by providing, as one of the first, empirical evidence on the existence of financial benefits for BREEAM-certified office buildings in the Dutch office market.

Details

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

Keywords

Open Access
Article
Publication date: 19 April 2024

Ivana Stevic, Vítor Rodrigues, Zélia Breda, Medéia Veríssimo, Ana Margarida Ferreira da Silva and Carlos Manuel Martins da Costa

This paper aims to analyse residents’ perceptions of tourism growth in Porto prior to the COVID-19 pandemic, aiming to determine the most appropriate strategies to mitigate…

Abstract

Purpose

This paper aims to analyse residents’ perceptions of tourism growth in Porto prior to the COVID-19 pandemic, aiming to determine the most appropriate strategies to mitigate negative tourism impacts. Studies on resident perceptions of tourism impacts are still scarce, particularly the ones addressing the topic in the context of Portuguese urban tourism areas.

Design/methodology/approach

Data was collected through an online survey, focusing on three categories of impacts: (i) economic, (ii) sociocultural (iii) and spatial-environmental, and the respective mitigation strategies, analysed from the perspective of Porto’s residents. Descriptive and bivariate statistics – T-test and Eta correlation – were used to analyse the collected data.

Findings

Respondents who live in the city centre experience specific tourism impacts more negatively, when compared to those living outside the inner-city area. Furthermore, no strong correlation is found between the said impacts and the respective mitigation strategies. However, creating awareness among tourists about acceptable behaviour in shared spaces is the strategy that stands out, as it has a medium correlation with all three impact categories. Most impact-strategy associations are weak, meaning that the defined strategies are not the most case-appropriate, which is something that policymakers should address.

Originality/value

To the best of the author’s/authors’ knowledge, this is the first study to adopt this approach in tackling the negative impacts of rapid tourism growth in Porto.

Details

International Journal of Tourism Cities, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2056-5607

Keywords

Open Access
Article
Publication date: 9 April 2024

Raul Beal Partyka and Ely Laureano Paiva

This paper aims to present the vertical integration state-of-the-art and propose an expansion of the operations and supply chain management (OSCM) field by identifying gaps and…

Abstract

Purpose

This paper aims to present the vertical integration state-of-the-art and propose an expansion of the operations and supply chain management (OSCM) field by identifying gaps and bottlenecks.

Design/methodology/approach

This paper uses a systematic literature review based on a sample of 173 OSCM field articles, collected from Scopus and Web of Science databases.

Findings

There are no single factors, such as future costs, structures or skills development, in the decision to vertically integrate operations. It is necessary to combine the vision of production costs with the perspective of governance and transaction costs. In addition, it is essential to consider the competency perspective and its impact on capability building.

Research limitations/implications

Few studies have attempted to understand how vertical integration is used in terms of OSCM research themes and theories. Vertical integration can help companies face challenges and serve as a potential solution for achieving better prices, demand control and quality management.

Practical implications

The significant role of vertical integration mechanisms in supply chains is crucial for managers evaluating a firm's reconfiguration with more vertical operations. Policymakers interested in supporting the smoothness of vertical integration decisions in regulatory agencies play a key role as contingencies.

Social implications

In times of global challenges, vertical integration is a strategy known to be more effective for firms to obtain a competitive advantage, making them more resilient.

Originality/value

This paper addresses gaps in the vertical integration theme and provides insights for future research development.

Details

RAUSP Management Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2531-0488

Keywords

Open Access
Article
Publication date: 8 December 2023

Tommaso Piseddu and Fedra Vanhuyse

With more cities aiming to achieve climate neutrality, identifying the funding to support these plans is essential. The purpose of this paper is to exploit the present of a…

Abstract

Purpose

With more cities aiming to achieve climate neutrality, identifying the funding to support these plans is essential. The purpose of this paper is to exploit the present of a structured green bonds framework in Sweden to investigate the typology of abatement projects Swedish municipalities invested in and understand their effectiveness.

Design/methodology/approach

Marginal abatement cost curves of the green bond measures are constructed by using the financial and abatement data provided by municipalities on an annual basis.

Findings

The results highlight the economic competitiveness of clean energy production, measured in abatement potential per unit of currency, even when compared to other emerging technologies that have attracted the interest of policymakers. A comparison with previous studies on the cost efficiency of carbon capture storage reveals that clean energy projects, especially wind energy production, can contribute to the reduction of emissions in a more efficient way. The Swedish carbon tax is a good incentive tool for investments in clean energy projects.

Originality/value

The improvement concerning previous applications is twofold: the authors expand the financial considerations to include the whole life-cycle costs, and the authors consider all the greenhouse gases. This research constitutes a prime in using financial and environmental data produced by local governments to assess the effectiveness of their environmental measures.

Details

Studies in Economics and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1086-7376

Keywords

Open Access
Article
Publication date: 15 April 2024

Pauli Komonen

Due to e-commerce growth, technological advancements and environmental concerns, developing a more nuanced service portfolio has become a critical issue for last-mile logistics…

Abstract

Purpose

Due to e-commerce growth, technological advancements and environmental concerns, developing a more nuanced service portfolio has become a critical issue for last-mile logistics service providers. Concurrently, consumers are adopting new modes of consumption. This paper aims to investigate the potential for last-mile logistics service providers to act as intermediaries in access-based consumption and to revitalise their service offerings through product-service systems – a pioneering strategy not executed in the market yet.

Design/methodology/approach

This strategic customer foresight study uses a quantitative survey of 1,000 respondents and an online focus group comprising 10 early adopter consumers to investigate emerging last-mile service models. Potential service concepts were identified through the survey, and two distinct concepts were subsequently selected for evaluation and co-development within the focus group. The research was conducted in partnership with an SME logistics company in Finland.

Findings

The consumers expressed selective interest in access-based consumption related to the proposed offering of essential household goods. Young adults and consumers in early middle age living in the city centre emerged as the most potential user groups. Economic reasons and short-term needs were the primary motivations for adopting access-based consumption.

Practical implications

The study showed that engaging consumers in a customer foresight process is viable for SMEs innovating their offerings and demonstrates how the process works in practice.

Originality/value

Documented cases of customer integration into foresight processes are rare in earlier research, and this paper extends the knowledge base through a multidisciplinary examination of future consumer behaviour in the last-mile logistics domain. The paper also expands the limited literature on the role of logistics in access-based consumption.

Details

foresight, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-6689

Keywords

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