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The purpose of this study is to enhance the estimation of vertical and horizontal inequity within property valuation. Property taxation is a crucial source of finance for local government around the world – based on a presumptive tax base underpinned by estimates of property value, inaccurate real estate valuations used for such ad valorem or value-based property tax calculations potentially lead to a variety of costs, both financial and other, for tax payers and governments alike. More common are increased costs in time, staff and, in some cases, legal fees. Some governments are even bound by acceptability thresholds to promote fairness, equitability and overall government accountability with respect to valuation.

There exist a number of vertical inequity measurements that have undergone academic testing and scrutiny within the property tax industry since the 1970s. While these approaches have proved successful in detecting horizontal and vertical inequity, one recurring disadvantage pertains to measurement error/omitted variable bias, stemming largely from a failure to accurately account for location. A natural progression within property tax research is the application of a more spatially local weighted modelling approach to examine vertical and horizontal inequity. This research, therefore, specifies a geographically weighted regression (GWR) methodology to detect and measure vertical inequity in property valuations.

The findings show the efficacy of using more applied spatial approaches for vertical tax estimation and indeed the limitations of employing conditional mean estimates coupled with delineated boundaries for assessing property tax inequity. The GWR model findings highlight the more fluctuating nature of vertical inequity across the Belfast market for the apartment sector both in a progressive and regressive sense and at different magnitudes. Moreover, the results reveal spatial clustering in the effects and are indicative of systematic inequities related to location inferring that spatial (horizontal) tax inequities are not random. The findings further show increased GWR model predictability overall.

This research adds to the existing literature base for evaluating both vertical and horizontal inequity in value-based property taxation at the intra-neighbourhood level. This is accomplished by modifying the Birch–Sunderman approach by transforming the traditional OLS model architecture to a GWR model, thereby allowing coefficient estimates of inequity to vary not only across a jurisdiction, but also at a more local level, while incorporating property characteristic variables. This arguably allows assessors to identify specific geographical areas of concern, saving them money, time and resources on identifying, addressing and correcting for inequity.

The purpose of this paper is to examine market microstructure differences in stock market quality for hospitality real estate investment trusts (REITs) during the pre- and post-financial crisis eras. It provides insight on different trading strategies based on the underlying liquidity and volatility of hospitality REITs as compared traditional REITs and the broader market.

The paper uses established microstructure measures for liquidity, trading volumes and risk assessment and compares daily and intraday trading patterns of REITs, hospitality REITs and the broad market.

The results suggest a quicker recovery of performance for hospitality REITs and some fundamental increases in liquidity measures post-crisis. The results of the study highlight the differences in trading volumes, liquidity and risk profile of hospitality REITs compared to traditional REITs both in the pre- and post-financial crisis periods.

The quicker recovery of hospitality REITs in key trading measures may suggest flight to quality during periods of high volatility.

This study fills the gap in the literature relative to microstructure studies and provides information to help hotel firms and portfolio managers choose an appropriate organizational structure and investment vehicle, respectively.

The purpose of this paper is to examine the stock price movements for existence of informed trading prior to a merger announcement for the companies listed on the emerging markets of India for the period from 1996 to 2010.

This study applies several event study methodologies and regression analyses to analyze the stock price movement surrounding a merger announcement. The paper divides mergers in two different types: industry merger cases and non-industry merger cases and in two different time periods: recession and boom.

The results show that the information held only by insiders’ works its way into prices. The paper finds strong evidence of insider trading in the case of industry mergers and mergers during recessions.

The results from this study have immediate policy implications for India and other developing markets as the paper provides the type of mergers and time periods when merger announcements are more susceptible to insider trading.

The paper extends the literature on mergers and insider trading by analyzing firms trading on a developing capital market, which, unlike the developed markets, is characterized by inadequate disclosure and a weaker enforcement of securities regulations. The results support this notion and recommend Indian securities market regulators to tighten the lax regulations. In addition, the author document the divergence in price reaction to the merger announcements for different types of mergers: industry mergers and non-industry mergers, as well as for mergers during different market conditions: recession vs booming capital markets.

Generativity, defined as care for the next generation, is a hallmark of developmental theory (Erikson, 1950). Mentoring is an antecedent to generativity (Doerwald et al., 2021), with college students who mentor demonstrating higher generativity than their peers (Hastings et al., 2015). Yet no research has studied generativity development longitudinally among college students who mentor. This paper aims to discuss the aforementioned issue.

Using MANCOVA analyses, Study 1 (N = 91) cross-sectionally examined the influence of years spent mentoring on generativity levels among college students who mentor in the USA. Study 2 (N = 44) employed growth curve analyses (GCA) in multilevel modeling (MLM) to analyze longitudinal changes in generativity over three timepoints, each one year apart, while accounting for the influence of gender.

Although the results of the MANCOVA analyses in Study 1 were nonsignificant, Study 2 revealed a significant and positive increase in generative behavior. Specifically, generative behavior (e.g. teaching a skill or serving as a role model; McAdams and de St. Aubin, 1992) increased by 3.26 points, indicating that participants may have moved, for example, from performing a generative behavior never during the past two months to performing it more than once.

The current study advances the fields of college student development and mentoring by arguing for the utilization of mentoring interventions among college students to increase generativity and calling for changes to generativity measurement among collegiate populations.

The purpose of the current innovative practice paper is to introduce a technique to explore leader identity development and meaning-making that builds on the narrative pedagogical tradition. In this paper, we recommend a process for combining turning-point graphing and responsive (semi-structured) interviews to co-explore leadership identity development and meaning-making with college students.

The paper provides student feedback data on the effectiveness of the technique in improving understanding of leader identity and transforming meaning-making.

We hope practitioners can utilize this approach to build leadership identity development and meaning-making capacity in college students.

This chapter examines the potential and barriers for evidence-based practices in Californian schools. In a large and complex school system, the state plays an important role in legitimating the use of certain types of evidence, but evidence-based practices are heavily determined by the resources, actors, and prevailing cultures in a local district environment. Until recently, high-stakes accountability policies mandated improvements in student test performance and intrusive interventions for failure. In recent years, the state has shifted to a different accountability approach that emphasizes local control and the use of multiple measures of school performance to pursue continuous improvement around locally developed goals and interventions. Amid this context, two stories arise about evidence-based practices in California. In one story, a set of major and highly touted districts have led the way in demonstrating evidence-informed continuous improvement district-wide. In these districts, the new state accountability approach, enabling leadership, long-term commitments to collective learning, networked opportunities to learn, and access to elite external expertise have contributed to fairly extensive practices of disciplined team problem-solving involving rich data. In a second story, schools and districts that face resource scarcity, high turnover, and conflict and in which past high-stakes accountability left a deep imprint on prevailing norms and routines, leaders and teachers have had difficulty establishing a conducive context for collective learning. However, given ingrained practices and limited absorptive capacity, it is not entirely clear how to enable productive evidence-based practices in such contexts.

The purpose of this paper is to uncover the relationship between flows and real estate investment at open-ended real estate funds (OEREFs).

The study employs fixed-effects panel regressions, relying on data from the Hungarian fund managers’ trade association. First, the effect of lagged flows on allocation to real estate is assessed. Second, the paper studies how this relationship changes as the cyclical position of CRE market advances using two proxies.

Flows are found to affect funds’ real estate holdings if they occurred 12–18 months earlier. Inflows (outflows) in the preceding six months demonstrably lower (increase) funds’ real estate holdings ratio. Beyond this relationship, findings do not suggest that less funds are channelled to real estate as “CRE heat” intensifies.

In an environment marked by strong cash inflows, the investment lag can translate into a significant drop in funds’ exposure to real estate. The share of real estate at Hungarian funds in the sample, for example, fell from 79 to 50 per cent on average over the period of 2011–2017. Measures designed to limit inflows are in the interest of those existing investors who wish to avoid a dilution of the core investment strategy.

The paper adds to the literature on OEREFs which has been particularly scarce on liquidity transformation during non-crisis times and on non-German funds.

The purpose of this application manuscript is to address assessing and evaluating the impact of leadership mentoring programs on collegiate mentors. Specifically, this paper addresses the nuanced considerations of creating appropriate program outcomes and associated objectives given the individualized nature of mentoring relationships. Additionally, the current paper discusses assessment and evaluation strategies to demonstrate impact of leadership mentoring on the collegiate mentor via a three-year program evaluation effort. By innovating leadership mentoring program practice, leadership educators can more soundly design and deliver leadership mentoring programs and more precisely measure and demonstrate impact.

Logging industry fatalities recently became a focus for policy change in British Columbia. Through re-analysis of ethnographic data collected in 2001–2002 this chapter aims to investigate logging contractors’ attitudes toward workplace danger and to comment on the likelihood of success of the proposed policy changes. The contractors attributed workplace danger to the forest environment and to human error, which shaped their behavior and their attitudes toward taking risks. The contractors accepted the risk of physical harm rather than face almost certain economic loss. The proposed policy changes do not address the conditions that promoted this acceptance.

This analysis addresses the question of how the goals motivating policies around markets for supplementary education are supported and reflected (or not) in the subsequent structures for those markets.

Drawing on policy documents and empirical research on these policies, we examine the policy contexts and market structures the low-intensity form of supplementary education (SE) seen in the United States relative to the high-intensity case of Korea – specifically, the supplementary educational services (SESs) of the No Child Left Behind Act of 2001 and the After School Programs (ASPs) in Korea, respectively.

The analysis finds that Korea is using school-based SE programs as an alternative to existing SE markets in order to mediate perceived free-market excesses, while the United States is subsidizing SE markets to address the negative consequences of inequitable schooling. Yet, even in different contexts and purposes, policymakers in both countries see a value to supplementary education as part of their overall education strategy, despite a lack of evidence on the effectiveness of these approaches. This commonality is reflective of the larger neoliberal approach, evident around the globe, of using market forces such as competitive incentives and parental choice to drive policy toward social objectives.

The significance of this analysis is the insight that these policy approaches, while different in context and policy specifics, represent an overall blurring of traditional distinctions between public and private organizations.