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The approved methodology of property valuation in Albania evaluates the reference property prices based on the average contractual price of properties sold and takes into account only factors such as price, square meters of living and location of property. Simple method is the one used on evaluating the reference price for a group of properties with similar characteristics. The purpose of this study is, by building a hedonistic pricing model for apartments in Tirana, to prove empirically that in addition to location, there are other characteristics that affect the value of apartments.

The capital city is chosen as a case study for the construction of a hedonistic pricing model. In the database were included detailed characteristics of 1,421 apartments. Multiple regression analysis was chosen in this model as a method to test hypotheses about the causal relationship between house value Y and independent variables X_S, representing the characteristics of the property. Population equation parameters β0, β1, β2 […], βn. were evaluated by the ordinary least squares method. Selection of α-standard is 5 per cent, taking into account the significant number of observations and the degree of regression freedom.

Based on this study, it was proved empirically that the characteristics of the apartments as square meters of living, number of rooms, access to parking, furniture, view and surface of living affect their price. As a literature review showed, location is the most important variable that affects the value. Results showed that the marginal effect that the number of rooms has on the apartment value depends on the square meters of living of the apartment. In the same line, the effect of the square meters of living on value depends on the square meters, as the relationship between these variables is nonlinear and depends more on the number of rooms.

It was impossible to find the information on property sales contracts. That is why this study was oriented toward the market and took into account the properties offered for sale at one of the biggest real estate agency “Çelësi”. More accurate information regarding properties characteristics could be obtained. The information was limited and depended on the best apartment characteristics that potential sellers wanted to advertise. On the other side, contractual sales price is oriented by the reference price, so, the applied methodology has resulted in better evaluations of real estate prices, which reflect the market price.

This study is conducted as an applicable research. After analyzing the property valuation system in Albania, the study recommends the change of the method used on apartment valuation. Improvement of the property valuation system requires first of all creation of a complete and updated database for all real estate sales.

Property valuation is a very important function of the land administration system which directly affects people’s life. Property evaluation for different purposes like tax evaluation, compensation and expropriation is a process that must be designed using an equal, transparent and well-accepted methodology by all. Promotion of property valuation system development is helpful to various interest groups in society, as it can reduce the risk of investment in this sector and encourages lower rates of interest on loans.

To the author's knowledge, the hedonic model is not applied on the Albanian housing market, thus providing encouragement to deepen the study in this regard. The study is original and has a very important impact on policymakers to change the actual property valuation methodology to obtain more accurate property values.

The purpose of this paper is to establish mall attractiveness factors in Kuwait, examine the relationship between mall dimensions and mall patronage and explore the impact of mall size and distance on mall patronage.

Data from 190 shopping mall visitors were analyzed using Stata software. Factor analysis was used to identify the mall attraction factors, and regression models were run to analyze their relationships with people’s frequency of visits to shopping malls and the amount of time spent per visit.

The results unearth five important factors, namely, performance of buying, entertainment, social activities, physical atmosphere and location. Analysis reveals that the performance of buying and social activities factors had a significant impact on the frequency of visits, while the amount of time spent per visit was significantly affected only by the social activities factor. Furthermore, mall size is more important than distance to the mall. Finally, gender differences in shoppers’ mall preferences and behaviors were reported.

On the practical level, shopping mall developers and managers can use the attraction scale to develop attractive malls and effective marketing strategies. Researchers can use findings to confirm the factors extracted in the study and for further research on the topic.

This study extends theories on consumers’ preferences and behaviors. It provides empirical evidence about the impact of attractive mall dimensions on shoppers’ patronage in Kuwait, an understudied context.

Despite the abundance of B2B loyalty programs (LPs), the research on their interplay with relationship marketing is scarce. The purpose of this paper is to investigate a LP (a relational practice) on a transactional business market to test if and how a B2B LP affects relationship outcomes.

The study is based on dyadic research in a multi-theory framework. Data were collected from 200 small and medium enterprises that purchase office supplies from a company and merged with the company’s internal records.The formative-reflective measurement model is estimated using structural equation modeling – partial least squares (SEM-PLS).

Relationship quality (RQ) directly affects sales and customer share of wallet. The effect is strengthened by customer activity in a LP. RQ results directly in a longer tenure and willingness to recommend only for members of a LP.

RQ is driven mainly by customer’s evaluation of prior experience with a supplier, while a LP is based on a forward-looking promise of a reward. The results of the study point to the level of customers’ activity in a LP as a boundary condition of the program’s efficacy.

RQ affects both attitudinal and behavioral outcomes but through distinct mechanisms. Once a supplier is a preferred one, LP membership strengthens the attitudinal outcome of a relationship. The effect of RQ on company performance is magnified by the level of customer activity in a LP but not by the membership status.

The theoretical framework integrates transaction costs, relational contract and relational exchange theories to investigate a LP on a transactional market. The study adds to the scant literature on LPs in business-to-business and provides evidence for similarities and differences in comparison to consumer research.

This study aims to explore the extent to which universities in developing countries have adopted social responsibility (SR) and track its implementation.

Through content analysis, the study examined the SR activities in 14 universities in Albania and North Macedonia. A framework for assessing SR in universities was developed based on the ISO 26000/2010 standard and the main SR domains relevant to the university context were identified and analysed. A comparison between public and private universities was made and best practices were highlighted.

The results showed that the highest scoring domain is organisational governance, while the environment domain scored lowest. No significant differences between public and private universities were identified in the disclosure of the university social responsibility (USR) domains.

Domains were assessed based on the online content the universities disclosed and did not consider any unpublished content.

The best SR practices are promoted to increase other universities’ level of engagement with the USR approach.

The study adds to the contributions in the USR literature by providing a better understanding of the application of USR in developing countries. The developed framework may be used to assess USR engagement in a practical way.

Education can cultivate a variety of skills for future entrepreneurs. The purpose of this study was to explore the role of a marketing simulation game as a pedagogical tool to enhance the entrepreneurial mind-set and boost the predisposition of postgraduate students to become entrepreneurs.

Qualitative data from the feedback of students regarding their simulation experience in an advanced marketing course were collected and analyzed.

The reports showed that, in a simulation setting, entrepreneurial learning can develop students' entrepreneurial skills and encourage them to undertake entrepreneurial activities. The simulation experience allowed students to face challenges, overcome limitations, improve their analytical skills, and enhance their business knowledge.

First, these findings cannot be generalized as they are based on a small sample of students. Second, qualitative research is very reliant on the individual characteristics of students. Because of the restricted time of the module, the students were only allowed to run six rounds (the minimum) out of 10. More rounds would have benefitted student learning and increased the likelihood of capturing more of their insights.

By using qualitative research, this study provides more thoughtful insights into students' perceptions of entrepreneurial skills and competency improvements by using simulation as a pedagogical tool. Following the suggestions of Fayolle et al. (2016), this study underlines the entrepreneurship education outcomes in terms of students' reflections on understanding their capability and their predisposition to take entrepreneurial actions in the future. Also, the role of education in fostering entrepreneurship is highlighted.

Loyalty programs (LPs) in a business-to-business (B2B) context have been under-researched when compared to consumer markets. The purpose of this paper is to investigate if and to what extent the loyalty program activity (LPA) based on recency, frequency and monetary framework reflects the effectiveness of a specific LP.

Using the data obtained from 818 business customers enrolled in a LP, logistic regression models are run to find the impact of LPA on the company’s sales.

The results suggest that in a linear LP, the frequency of rewards impacts sales the most, compared to recency and amount of points redeemed. The intensity of a LPA is influencing the expected sales in a company.

The current study is not focused on the redemption patterns and the value of the rewards offered in the program. Limitation of the study only to one country and in a single company does not allow to generalize presented findings.

Companies should focus their efforts on defining the best level of frequency rewards in their LPs. Reward timing should be considered as a factor that influences the change in customer purchasing behavior more than the amount of points accumulated.

The research provides empirical evidence to support the highest influence of frequency of rewards on sales, compared to recency and amount of points redeemed. This is one of the few LP studies conducted in the context of the B2B market.