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The innovative process of new product development remains unique within most organizations. This uniqueness stems from the requirements of the new product development manager to grapple with both the universe of emerging technologies from which a new feature or improvement must be found and to simultaneously maintain a constant awareness of the requirements of an ever-changing customer base. Amongst all of this uncertainty, there is still a time when new product development managers choose to ignore the warning signals that a project is failing and continue to commit resources. This paper refers to this as irrational commitment. This paper aims to examine the uncertainty of new product development and the reasons for this irrational commitment to failed projects.

The paper used a structured systematic review of literature to identify the most common types of irrational commitment in new product development and their impact on the corporation.

The paper provides insights into the causes and effects of management irrationally committing to new product development projects that are doomed to failure. It suggests that the three major areas of knowledge that need to be better integrated into the decision-making process are technology trends, marketing knowledge and the capabilities of the company itself.

Because of the chosen research approach of using a systematic review of literature, primary research needs to be conducted in the future to validate and refine the findings of the paper.

The paper provides leadership with guidelines to avoid irrationally committing to failed new product development efforts.

This paper adds to the literature on innovation systems.

Refers to previous research on the relationship between returns for different asset classes and on cointegration; and applies Johansen’s (1988) methodology to develop a prediction model. Uses 1978‐1995 data on five US asset classes (treasury bills, long‐term bonds, large capitalization common stocks, unsecuritized real estate and securitized real estate equity) to investigate cointegration between them. Shows that the index of unsecuritized real estate is positively related to treasury bills and negatively related to long‐term bonds and securitized real estate; and that returns for it can be forecast more accurately by using VECM models rather than unrestricted VAR models. Considers the implications for portfolio allocation, compares the results with other research fundings and calls for further research.

The leading real estate journals in the USA, UK, Asia and Australia are analysed over 1991‐2000 to assess the impact of international real estate research in these journals. It is found that the focus on international real estate has expanded considerably in recent years, with this focus more evident in the leading UK real estate journals rather than the leading USA real estate journals. Reasons for this difference between the USA and UK real estate journals are identified. Issues relating to international authorship are assessed, with the leading international authors and universities identified.

Few countries have sufficiently long and detailed returns data for real estate to permit sophisticated analysis. This paper aims to examine the potential diversification of private real estate investments using returns data for major regional centres in Ireland and the UK.

Optimal real estate‐only portfolios are constructed using total returns, income returns and appreciation returns for office and retail real estate in ten cities within Ireland and the UK. The analysis uses IPD data for the period 1984 to 2002. Total return, income return and appreciation returns are treated as separate asset streams in the modelling of portfolios.

The results show different risk levels; in particular the income stream carries low risk, whereas the capital appreciation element is much more volatile and risky. Optimal portfolios, office or retail, whether income, appreciation or total returns, indicate that provincial markets perform well and are capable of pushing London out of the optimised portfolios.

Limitations stem from the optimal portfolios being based on return series without a consideration of market depth. Future research will seek to construct weighted portfolios.

The paper constructs optimal portfolios for three scenarios: low return; medium return; and high return across sectors, return streams and major regional centres in Ireland and the UK. The results show that regional centres perform well and can exclude London real estate from optimal portfolios.

The purpose of this paper is to compare corporate real estate (CRE) strategies of companies in a mature market, the UK, with companies in an emerging market, Malaysia, and examine whether CRE strategy impacts on financial performance.

The methodology involved the analysis of the reporting of CRE strategies in company reports for two time periods, 1998 and 2003. Multivariate models were used to test the relationship between CRE strategy and financial performance.

The results show that a high percentage of companies have CRE strategies that map to the Nourse and Roulac framework, though some companies had alternative or no CRE strategies. Variations are apparent between the UK and Malaysia and between the time periods with differences in the clarity of reporting. The contribution of CRE strategy to financial performance is more significant in 2003.

The testing of relationships based on another framework, would allow comparisons to be made with the current study in determining the potential of CRE strategy.

This study has been the first attempt to identify relationships between CRE strategy and the financial performance of companies and in doing so has raised other potential questions for further research.

At the height of the recession in the early 1980s, a multitude of state and locally sponsored housing finance agency programs were legislatively introduced in response to populist pressure. Many of these controversial programs utilized lower cost municipal bonds to subsidize private sector housing programs and had remarkable diversity in their stated objectives. This study focuses on one of these programs, the Ohio Housing Finance Program, which purported to address the needs of mainly first‐time home buyers. Housing program evaluations,while rarely done, are very important where publicborrowing is used to support them. Using county‐level demographic data for 1983, the empirical results suggest that the Ohio program’s target clientele, first time homebuyers, were the major beneficiaries of the program.

The role of art in a portfolio of investments is examined using Sotheby's art index as & proxy for returns on art investments. Historical data for portfolios of artwork and other financial securities over the period 1981 to 1990 are used to construct the optimal mean‐variance portfolio. The art investment receives over 36% of this portfolio. This large percentage can be traced in part to the low correlation of art returns to the returns of other financial securities. Clearly investments in art deserve the serious consideration of mean‐variance investors

Provides a review and synthesis of the finance literature regarding foreign investment and the real estate literature dealing with foreign investment in US real estate. Addresses the motivations for investing in US real estate, including the potential for increased returns as well as the potential for risk reduction. Proposes an investment decision making model indicating factors that foreign investors need to consider when investing in US real estate.

This research provides accounting-ethics authors and administrators with a benchmark for accounting-ethics research. While Bernardi and Bean (2010) considered publications in business-ethics and accounting’s top-40 journals this study considers research in eight accounting-ethics and public-interest journals, as well as, 34 business-ethics journals. We analyzed the contents of our 42 journals for the 25-year period between 1991 through 2015. This research documents the continued growth (Bernardi & Bean, 2007) of accounting-ethics research in both accounting-ethics and business-ethics journals. We provide data on the top-10 ethics authors in each doctoral year group, the top-50 ethics authors over the most recent 10, 20, and 25 years, and a distribution among ethics scholars for these periods. For the 25-year timeframe, our data indicate that only 665 (274) of the 5,125 accounting PhDs/DBAs (13.0% and 5.4% respectively) in Canada and the United States had authored or co-authored one (more than one) ethics article.