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The purpose of this paper is to investigate how the 2007 global financial crisis (GFC) changed financial disclosure behavior using a sample of US equity real estate investment trusts (REITs) from 2000 to 2015.

The authors use panel data spanning from 2000 to 2015 to examine the impact of the GFC on REITs’ earnings management (EM) after controlling for other factors (including the market shock in 2007 and 2008). The measurements of EM are estimated by using the models developed from literature such as modified Jones models. The static panel data regression models are used to estimate the impact of GFC on the REITs’ EM.

The authors find that REITs are more likely to engage in income-increasing EM to embellish their financial reports during the GFC. However, the magnitude of the use of EM to manipulate disclosed financial information decreased following the GFC, indicating an improvement in the quality of financial disclosure as a consequence of the enhancement of the regulatory environment. REITs also changed the manner in which their EM behavior responded to the main factors in the market following the outbreak of GFC.

This study contributes to the finance and accounting literature by providing the first empirical test results concerning how the financial disclosure behavior and quality of listed portfolios and companies such as REITs have changed corresponding to the enhancement of the regulatory environment and adverse market conditions brought by GFC.

This study provides references for investors, auditors, and regulators to help them make adjustments for and improve the interpretation of the disclosed financial information.

This is one of the first empirical study testing the impact of the GFC on EM. It is also the first empirical study investigating the impact of GFC on the financial disclosure behavior of REITs.

The purpose of this paper is to investigate the role of spatial dependency in the construction of a price index for the transactions of whole office buildings. It examines transactions of office buildings over a 15-year period and addresses an under-researched area in investment property analysis.

The study examines data relating to transactions of all office buildings in the Melbourne (Australia) central business district between 2000 and 2015. The methodology uses a spatial weights matrix to construct a hedonic model, spatial error model, spatial lagged model and an office building transactional price index.

The findings confirm the existence of spatial dependency for the transactions of office buildings. In addition, incorporating the effect of spatial dependency by constructing spatial error and spatial lagged model improved the accuracy of the estimated transactional price index for office buildings.

These findings make an important contribution to the literature by highlighting the importance of the issue of spatial autocorrelation in the estimation of valuation models and price indexes for office buildings. Until now the focus has predominantly been on individual office units rather than whole office buildings, where the barrier has traditionally been access to comprehensive data. The analysis did not consider leasing details as this information is not accessible in the Australian market.

The research will assist stakeholders including valuers, investors and market regulators to improve their understanding of movements in the office property transactional market. The findings provide an insight into trends associated with the transfer of office buildings. It will assist future decisions about the location of a new office building developments in order to optimise their proximity to transport and other buildings.

The study will assist planners to ensure the location of office buildings are optimised from a social sustainability perspective. This equates to buildings located in close proximity to transport facilities and also supporting the development of office buildings in locations, which are associated with lower future risk.

The construction of an accurate and reliable property index is critically important for practitioners to understand the movement in both the property market and also in the broader economy. A substantial increase in whole office building acquisitions has been observed in recent years, especially after the 2007 Global Financial Crisis (Lizieri and Pain, 2014) although there has remained limited research undertaken in this area.

There has been declining home ownership and increased acceptance of long-term renting in many western countries including Australia; this has created a problem when examining housing markets as there are dual demand and include both owner-occupiers and investors. The purpose of this paper is to examine the long-run relationship between house prices, housing supply and demand, and to estimate the effects of the two types of demand (i.e. owner-occupier and investor) on house prices.

The econometric techniques for cointegration with vector error correction models are used to specify the proposed models, where the housing markets in the Australian states and territories illustrate the models.

The results highlight the regional long-run equilibrium and associated patterns in house prices, the level of new housing supply, owner-occupier demand for housing and investor demand for housing. Different types of markets were identified.

The findings suggest that policies that depress the investment demand can effectively prevent the housing bubble from further building up in the Australian states. The empirical findings shed light in the strategy of maintaining levels of housing affordability in regions where owner-occupiers have been priced out of the housing market.

There has been declining home ownership and increased acceptance of long-term renting in many western countries including Australia; this has created a problem when examining housing markets as there are dual demand and include both owner-occupiers and investors. This research has given to the relationship between supply and dual demand, which includes owner-occupation and investment, for housing and the influence on house prices.

The purpose of this paper is to identify opportunities and challenges for small- to medium-sized pre-owned fashion enterprises (SMEs) in Vietnam. While recent studies have identified the growth of pre-owned fashion in developed economies, pre-owned clothing remains negatively associated by some consumers with overseas charity donations of second-hand clothes to Vietnam, following the economic upheaval of the 1980s.

Qualitative data were collected via semi-structured in-depth interviews with founders and/or owners of pre-owned fashion SMEs (n = 5, aged 25–40 years) with physical stores located in Ho Chi Minh City alongside online retail platforms. All interviewees are significant industry and consumer influencers.

Younger Vietnamese consumers are motivated by (1) pre-owned fashion's value for money compared to buying new western branded luxury items and (2) the ability of pre-owned and vintage fashion to allow the wearer to create a unique personal style. While Vietnamese consumers and retailers associate “sustainable fashion” with various, often unrelated concepts, the impact of global and local discourse around sustainable fashion in the last five years has generally supported wider interest in pre-owned fashion.

This study contributes to the relatively modest pool of English-language research on the fashion and textiles industry in Vietnam, a global fast-fashion manufacturing hub. The findings advance understanding of how pre-owned fashion is growing as a high-end niche market despite significant supply chain restrictions as well as a lingering perception of pre-owned fashion as charitable donations.

The purpose of this study is to examine whether firm-specific litigation risk affects independent director conservatism in the oversight of financial reporting.

This study considers the enactment of Sarbanes–Oxley Act and the main US stock exchanges' corresponding corporate governance regulations in 2002–2003 as an exogenous shock event to increase board independence. OLS regressions with fixed effects are conducted to test the hypothesis.

Changes in discretionary accruals from the pre-event year (2001) to the post-event year (2004) are more negatively associated with an exogenous increase in board independence for firms with high litigation risk than for firms with low litigation risk.

The results suggest that independent directors are more conservative in overseeing financial reporting when they face higher litigation risk, consistent with the notion that they are still concerned about liability risk although they seldom have to pay damages or legal fees out of their own pockets.

Evidence of the link between major sports events and increased participation at grassroots level is somewhat mixed. The purpose of this paper is to examine attitudinal changes to sport participation among spectators associated with seven sports events held in Great Britain in 2014.

Primary data were gathered from 4,590 spectators aged 16 and over who attended one of the events. Both positive (inspiration) effects and negative (discouragement) effects were considered through the lens of the transtheoretical model (TTM).

The evidence from this research indicates that event audiences belong primarily to the latter (more active) stages of the TTM. It was also found that attending sports events can further fuel the existing desire of contemplators to increase participation, whereas the catalytic effect among pre-contemplators is arguably less potent. Virtually no discouragement effects were observed across the different TTM stages.

The research stops short of measuring actual changes in sport participation post-event of individuals in the different TTM stages and any attribution of such behaviour changes to events. This is both a limitation of the current research and a natural direction for future research.

The main implications for promoting sport participation through the medium of sports events include attracting more people in the early stages of the TTM, greater collaboration between different event stakeholders and the building of sport participation strategies into the event planning phase.

Models of behaviour change such as the TTM have seldom been applied to document the current and/or planned sport participation behaviour of individuals in a sport event context or to examine attitudinal changes towards sport as a result of attending an event. An adapted version of the TTM has been proposed to overcome the limitations of the traditional model.

Studies of entrepreneurial orientation tend to merge its three components‐proactiveness, risk-taking, and innovativeness‐into a monolithic construct and analyze its relationship with firm outcomes at one point in time. This has resulted in knowledge voids related to the relative importance of the different components, their specific effect on value created by the firm, and their evolution over time. The present study links each component of entrepreneurial orientation to economic value creation using a longitudinal dataset. Results provide support for hypothesized relationships. Implications and avenues for future research are discussed.

This paper seeks to provide the international reader with an insight into the mind of the young consumer from Singapore, one of the vibrant hubs of youth consumerism in Asia. This paper combines observations derived, informal interviews with peers as well as self experience of the writer who is both a young marketer and a young consumer who is involved in the youth volunteerism circles as well. During the course of writing the paper, insights such as the rise of the coffeehouse culture, being spaces, extended family syndromes were observed, as well as viewpoints on the insipid marketing by fast food giants in the country from a young consumer’s perspective was discussed. This insight will provide a sound platform for in depth qualitative and quantitative research in the future. The value of this paper is it’s varied perspectives and observations derived uniquely from the authors’ personal involvement in these fields of interest.

The purpose of this study of Google and Baidu in mainland China is to identify the key contingencies to firm strategic responses to technical and institutional pressures. From an institutional logic perspective and Hirschman's model of exit, voice, and loyalty, this research proposes a few propositions which are intended to explain why foreign and local companies adopt different responses to similar institutional requirements or under similar institutional pressures.

This study applies a historical chronological method by the recognition of certain types of events and key strategic activities conducted by two sample organizations from their foundations in mainland China till March 2010 when Google exited from China's internet search market. These activities were identified as the measurement of firm strategic responses to institutional pressures. Data were gathered from various sources, including documents published by sample organizations, online and media reports, etc.

It is found that firms adopted similar responses to technical pressures which were determined by characteristics of the internet industry. However, their responses to institutional pressures, which were driven by the state logic for control of the internet, were dramatically different. As a multinational corporation, Google was faced with inherent tensions between home and host institutional requirements. When the state control pressures increased, Google eventually selected a voice and exit strategy. Baidu, as a local leading player in China's internet market, adopted a loyalty strategy through closer collaboration with local institutional constituents, including government agencies and clients, in addition to its investment in creating corporate images and reputation among local internet users.

This research explores the dynamic and diverse responses of foreign and local companies to institutional pressures and advances our understanding of political properties in firm strategies and the importance of firm nationality in strategy making.