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1 – 2 of 2Niina Leskinen, Jussi Vimpari and Seppo Junnila
Contrary to the traditional technology project perspective, real estate investors see building-specific renewable energy (on-site energy) investments as part of the property and…
Abstract
Purpose
Contrary to the traditional technology project perspective, real estate investors see building-specific renewable energy (on-site energy) investments as part of the property and as something affecting the property’s ability to produce a (net) cash flow. This paper aims to show the value-influencing mechanism of on-site energy production from a professional property investors’ perspective.
Design/methodology/approach
The value-influencing mechanism is presented with a case study of a prime logistics property located in the Helsinki metropolitan area, Finland. The case study results are compared with the results of a survey answered by over 70 property valuation professionals in the Finnish real estate market.
Findings
Current valuation practice supports the presented value-creation mechanism based on the capitalisation of the savings generated by a building’s own energy production. Valuation professionals see benefits beyond decreased operating expenses such as enhanced image and better saleability. However, valuers acted more conservatively than expected when transferring these additional benefits to the cash flows of the case property.
Practical implications
Because the savings in operating expenses can be capitalised into the property value, property investors should consider on-site energy production when the return of on-site energy exceeds the return of the property. This enhances the profitability of on-site energy, especially in urban areas with low initial yields.
Originality/value
This is the first research paper to open the value-influencing mechanism of on-site energy production from a professional property investors’ perspective in commercial properties and to confirm it from a market study.
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Niina Herttuala, Lauri Kokkinen and Anne Konu
The purpose of this study was to describe factors that support and prevent managers' work wellbeing by reviewing international studies and interviewing Finnish social- and…
Abstract
Purpose
The purpose of this study was to describe factors that support and prevent managers' work wellbeing by reviewing international studies and interviewing Finnish social- and healthcare managers.
Design/methodology/approach
Twenty-two studies were identified in the systematic literature search. Seven social care and healthcare managers were recruited to participate in thematic interviews. Data were analyzed by using content analysis.
Findings
Supportive and preventive factors for managers' work wellbeing were identified in the literature review, including managerial position, decision latitude, job control, social support and ethical culture at the workplace. The interviews further suggested that the supportive and preventive factors affecting social and healthcare managers' work wellbeing could be divided into five broad categories: (1) Individual factors, (2) Social factors, (3) Professional support from one's own manager, (4) Work-related factors and (5) Organizational factors.
Originality/value
We conducted a systematic literature search together with expert interviews to find the factors most crucial to managers' work wellbeing. These findings can assist social and healthcare organizations and policymakers to pay attention to these factors as well as in policies guiding them.
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