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Article
Publication date: 12 August 2020

Muhammed Bolomope, Abdul-Rasheed Amidu, Olga Filippova and Deborah Levy

Decision-making behaviour of property investors has been the focus of real estate research for decades. Yet, there is no consensus on a generally accepted behavioural model that…

Abstract

Purpose

Decision-making behaviour of property investors has been the focus of real estate research for decades. Yet, there is no consensus on a generally accepted behavioural model that suits all market conditions and investment peculiarities. While scholars have emphasized the significance of rational reasoning and cognitive influences on property investment decision-making preferences, gaps remain regarding the impacts of market disruptions on property investment decision-making behaviour. This paper, therefore, explores the institutional framework as a theoretical basis for understanding property investment decision-making behaviour amidst market disruptions.

Design/methodology/approach

This paper reports a systematic review of pertinent theories that have explored decision-making behaviour. Commencing with an index search of high impact peer-reviewed journals, a snowball identification of relevant citations was also deployed to assemble theories from the field of psychology, sociology, economics and urban studies. Although a preliminary dataset of 82 papers with relevant decision-making theories was identified, the final dataset comprised 27 papers and 7 theories. The identified theories were reviewed accordingly.

Findings

The outcome of this study suggests that the institutional framework offers a robust approach to property investment decision-making amidst market disruptions, especially because it recognizes the dynamism in the investment environment and the roles of formal and informal rules that exist therein.

Originality/value

This study advances the current understanding of property investment decision-making behaviour by recognising the dynamism of the investment environment and how factors such as principles, laws, tradition and routines can lead to an established and legitimate standard of reasoning. By integrating both rational and cognitive attributes, the study provides a holistic perspective to property investors' decision-making behaviour in response to market disruptions.

Details

Property Management, vol. 39 no. 1
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 5 October 2020

Muhammed Temitayo Bolomope, Kwasi Gyau Baffour Awuah, Abdul-Rasheed Amidu and Olga Filippova

This study explores the challenges of access to finance from local financial institutions (LFIs), i.e. local banks, for public–private partnership (PPP) infrastructure project…

Abstract

Purpose

This study explores the challenges of access to finance from local financial institutions (LFIs), i.e. local banks, for public–private partnership (PPP) infrastructure project delivery in Nigeria. The aim is to provide useful insights that could inform policy solutions to ease the local funding of PPP infrastructure projects in Nigeria and, by extension, other developing economies.

Design/methodology/approach

Adopting a qualitative research methodology, the study engaged PPP stakeholders involved in securing funds for PPP infrastructure projects in Nigeria. A total of 15 PPP stakeholders, drawn from the public and private sectors, were purposively selected and their views on the research problem obtained through recorded telephone interviews. The opinions of the research participants were subsequently analyzed and the results discussed with the outcome of the examination of relevant literature.

Findings

The study found that the significant factors affecting access to local finance for PPP infrastructure projects in Nigeria include low capital base by LFIs, weak project viability, lack of capacity to manage PPP-related activities, inconsistent government policy, poor legal framework and public perception of PPP.

Research limitations/implications

Insights from this study are useful for PPP stakeholders in mitigating the barriers that influence access to local finance for PPP infrastructure projects in Nigeria and other developing economies. This study is also useful in enhancing the current policy structure in developing countries as a way of revamping the existing infrastructure framework through LFIs.

Originality/value

This study provides clarity on the peculiar challenges impeding access to finance from LFIs for PPP infrastructure projects in Nigeria and will be useful for debt providers and policymakers in evaluating the bankability of PPP infrastructure projects in Nigeria and other developing countries.

Details

Journal of Financial Management of Property and Construction , vol. 26 no. 1
Type: Research Article
ISSN: 1366-4387

Keywords

Article
Publication date: 6 September 2021

Luqman Toriola-Coker, Hakeem Owolabi, Hafiz Alaka, Wasiu Adeniran Bello and Chaminda Pathirage

This study aims to investigate two public private partnership (PPP) road projects in Nigeria for exploring factors that can motivate end-user stakeholders for contributing towards…

Abstract

Purpose

This study aims to investigate two public private partnership (PPP) road projects in Nigeria for exploring factors that can motivate end-user stakeholders for contributing towards sustaining a PPP project in the long-term.

Design/methodology/approach

Using a case study methodology approach, this study adopts two-way data collection strategies via in-depth interviews with PPP experts and end-user stakeholders in Nigeria host communities and a questionnaire survey to relevant stakeholders.

Findings

The study identifies an eight-factor structure indicating critical success factors for ensuring end-user stakeholders support PPP projects on a long-term basis in their host communities.

Originality/value

Results of the study have huge implications for policymakers and project companies by encouraging the early integration of far-sighted measures that will promote long-term support and sustainability for PPP projects amongst the end-user stakeholders.

Details

Journal of Engineering, Design and Technology , vol. 21 no. 3
Type: Research Article
ISSN: 1726-0531

Keywords

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