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1 – 10 of over 48000Amy N. Kroll and Anders W. Franzon
To provide an overview of the new uniform definition of “branch office” and to discuss how that definition will influence broker‐dealer supervisory programs.
Abstract
Purpose
To provide an overview of the new uniform definition of “branch office” and to discuss how that definition will influence broker‐dealer supervisory programs.
Design/methodology/approach
Discusses the new definition of “branch office”, describes new NASD and New York Stock Exchange supervisory control system requirements and supervisory requirements for branch offices and other locations, and suggests guidelines for developing a branch office or remote office supervisory program.
Findings
In the current regulatory environment, no broker‐dealer should overlook regular and rigorous attention to supervision of branch offices and other remote locations. And in light of the new definition of a branch office, each broker‐dealer must include in its review and analysis a close evaluation of how the broker‐dealer supervises every location where broker‐dealer personnel engage in activities on behalf of the broker‐dealer and must document that evaluation.
Originality/value
Important reference for broker‐dealers’ branch office supervisory programs that underscores the need to pay proper attention to remote locations.
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Barry P. Haynes, Louise Suckley and Nick Nunnington
The paper aims to explore the relationship between office occupier work activity and workplace provision. It tests the proposition that location-fixed office workers are not…
Abstract
Purpose
The paper aims to explore the relationship between office occupier work activity and workplace provision. It tests the proposition that location-fixed office workers are not well-supported in the working environment as location-flexible office workers. The research also explores the perceptions of the workplace provision based upon the types of tasks completed at the desk-location, whether this was collaborative or focussed.
Design/methodology/approach
The research adopts a cross-sectional approach using an online questionnaire to collect data from several offices in the Middles East. The dataset consists of 405 responses. One-way analysis of variance was conducted to understand the relationship between location flexibility and perception of productivity. In addition, a series of t test were used to evaluate the relationship between work activities and office environment.
Findings
The results show that those workers who were location-fixed perceived the workplace provision to have a more negative impact on their productivity than those who had a greater level of location-flexibility, particularly with regards to noise levels and interruptions. In terms of types of activities, those that undertook more collaborative tasks valued the facilitation of creativity and interaction from the workplace provision.
Research limitations/implications
The research has limitations as data collection was at one-point in time and therefore lacks the opportunity to undertake longitudinal analysis. However, the research gives greater insights into the alignment of office environments based on flexibility and work activity.
Practical implications
The paper identifies implications for the design and development of office environments by identifying the need for office occupier activity profiles. These profiles can underpin data-led design which should promote a tailored choice appropriate work setting that can maximise productivity.
Originality/value
This paper contributes to the research area of workplace alignment. It establishes that optimal workplace alignment requires a better understanding of office occupier needs based on location-flexibility and work activity.
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Herman Donner and Tracy Hadden Loh
The purpose of this paper is to test the popular perception that the storefront location choices of premium brands are positively related to adjacent rents. Focusing on the case…
Abstract
Purpose
The purpose of this paper is to test the popular perception that the storefront location choices of premium brands are positively related to adjacent rents. Focusing on the case of Starbucks, a popular international coffee chain, the authors examine the association between Starbucks locations and rents in Manhattan, New York.
Design/methodology/approach
The authors use a multi-year data set for average rent per square foot for office and multifamily residential properties within 1/10th of a mile of several hundred coffee shop locations in Manhattan, controlling for vacancy, job density, overall amenity density (WalkScore), coffee shop density, transit accessibility, neighborhood and the Starbucks brand. The authors take two different methodological approaches to isolate potential statistical evidence for an association between Starbucks locations and adjacent rents: the authors run a pooled-cross-sectional model and apply propensity-score matching.
Findings
The authors find a statistically significant positive relationship between the presence of Starbucks and average office rents when applying the authors’ pooled-cross-sectional model and applying propensity-score matching. This finding is consistent with several potential causal hypotheses: Starbucks may be attributed to higher rent office locations; the “Starbucks effect” may cause higher rents in adjacent locations; or there may be a mutual reinforcing of positive feedback between Starbucks locations and office rents. The authors find no strong association between Starbucks and residential rents (one model indicates an effect of 2.3 percent on residential rent at 10 percent level of significance), which challenges the direct linearity of the consumption theory of gentrification popularly called the “Starbucks effect.”
Originality/value
In the literature, the existence, causality and directionality of a relationship between Starbucks locations and neighborhood change have been largely unstudied. In this paper, the authors test the hypothesis that there is a positive correlation between Starbucks locations and rents.
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Valerie J. Morganson, Debra A. Major, Kurt L. Oborn, Jennifer M. Verive and Michelle P. Heelan
The purpose of this paper is to examine differences in work‐life balance (WLB) support, job satisfaction, and inclusion as a function of work location.
Abstract
Purpose
The purpose of this paper is to examine differences in work‐life balance (WLB) support, job satisfaction, and inclusion as a function of work location.
Design/methodology/approach
Web‐based survey data were provided by 578 employees working at one of four locations (main office, client location, satellite office, and home). Multiple regression analyses were used to identify differences in WLB support, job satisfaction, and inclusion across employees working at the four locations.
Findings
Results showed that main office and home‐based workers had similar high levels of WLB support and job satisfaction. Main office workers reported higher levels of WLB support than satellite and client‐based workers. Additionally, main office workers reported the highest levels of workplace inclusion.
Research limitations/ implications
Data were originally gathered for practical purposes by the organization. The research design does not allow for manipulation or random assignment, therefore extraneous variables may have impacted the observed relationships.
Practical implications
Allowing employees flexibility in choosing their work locations is related to positive outcomes. The authors suggest several practices for the effective implementation of alternative work arrangements.
Originality/value
This paper is among the first to examine the outcomes of telework across locations. It uses a large single organization and a quasi‐experimental design, enhancing the validity of the findings.
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Michael Halinski and Jennifer A. Harrison
This study investigates the moderating role of employee office location in the relationship between support-related job resources (i.e. organizational support for development…
Abstract
Purpose
This study investigates the moderating role of employee office location in the relationship between support-related job resources (i.e. organizational support for development, supervisor support) and work engagement among public sector employees.
Design/methodology/approach
An online questionnaire was completed by 2,206 digital services branch of public service employees in Canada. Structural equation modeling (SEM) was used to test office location as a moderator of job resources and work engagement.
Findings
The results indicate that office location moderates the relationship between organizational support for development and work engagement, such that this relationship is stronger for head office employees. Conversely, results show office location moderates the relationship between supervisor support and work engagement, such that this relationship is stronger for regional office employees.
Research limitations/implications
The questionnaire was self-report in nature and from a single department. Future research should consider multiple sources of reporting and additional departments.
Practical implications
The current study suggests that to increase work engagement, public sector organizations need to offer head office employees more organizational support for development and regional employees more supervisor support.
Originality/value
The literature on public sector work engagement tends to study job resources as having universal effects on work engagement regardless of employees' place of work. This study suggests that certain resources matter more depending on office location.
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Inka Vuokko Ilona Kojo and Suvi Nenonen
This research aims to aggregate and categorise distinct places for multi-locational work from the 1960s until today. Based on an understanding of the user needs connected to these…
Abstract
Purpose
This research aims to aggregate and categorise distinct places for multi-locational work from the 1960s until today. Based on an understanding of the user needs connected to these locations, the paper aims to identify the service concepts and workplace design solutions by which these needs can be met.
Design/methodology/approach
The literature review is based on academic journal papers, reports and books related to the topic.
Findings
The paper categorises the main multi-locational workplace locations, namely, organisational offices, home offices, mobile workplaces and flexible offices. The user needs in these locations vary from concept to concept, and therefore, the service offers are distinct. Based on the results, the service provision of organisational offices and flexible offices should focus on providing users with the chance for socialisation using collaborative space solutions and community management policies. In the cases of home offices and mobile workplaces, service provision should instead emphasise ensuring functionalities such as efficient virtual connectivity and accessibility. Additionally, more concept-specific user needs are identified.
Research limitations/implications
The paper offers an overview of and framework for future research and concept development. The limitations of cultural differences could have been investigated more.
Practical implications
The results provide insight into the purposes of facilities management and workplace design when developing service concepts for multi-locational workplaces.
Originality/value
The paper establishes a literature-based framework for the service concepts of places for multi-locational work.
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Charles S. Gittleman and Russell D. Sacks
To describe and to discuss the implications of the new National Association of Securities Dealers, Inc. (NASD) and New York Stock Exchange (NYSE) uniform branch office definition…
Abstract
Purpose
To describe and to discuss the implications of the new National Association of Securities Dealers, Inc. (NASD) and New York Stock Exchange (NYSE) uniform branch office definition for broker‐dealers, approved on September 9, 2005, as found in the definitions of “branch office” found in NASD Conduct Rule 3010(g)(2) and NYSE Rule 342 (the “Adopted Rules.”)
Design/methodology/approach
Summarizes and analyzes the adopted rules.
Findings
The adoption of a single standard by NASD, the NYSE, and state law authorities will be welcome to broker‐dealers that have to date been operating under a number of varying definitions. The Adopted Rules define “branch office” very broadly, but contain important exclusions to the uniform definition such as the primary residence exclusion and exlusions for locations of limited use, locations of convenience, and locations used for other than securities business. Unfortunately, the SEC approval orders contain no discussion of how these rules might apply to the international networks that include US broker dealers.
Originality/value
A useful summary and analysis of the new uniform branch office definition, which comes at a time when US securities regulators are placing increasing emphasis on branch office supervision, control, and inspection.
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Kemal Yıldırım, Mehmet Lutfi Hidayetoglu and Sinem Serap Unuvar
This paper aims to focus on determining the effects of location of closed offices on the front facade, rear facade and side facade plans and the indoor layout (left and right…
Abstract
Purpose
This paper aims to focus on determining the effects of location of closed offices on the front facade, rear facade and side facade plans and the indoor layout (left and right users’ cabinets) on perceptual evaluations of users of physical environmental factors.
Design/methodology/approach
For this purpose, the responses of 54 academic users who use the Gazi University Technology Faculty Taskent Building offices were taken with the help of a survey.
Findings
As a result, it was determined that office users on the front and side facades generally perceived more positively the offices’ environmental factors than office users on the back facade. In addition, it was determined that offices with storage cabinets located to the right of users (Type A) were perceived more positively than storage cabinets located to the left of users (Type B). On the other hand, it was determined that users between the ages of 25–45 who used closed offices generally perceived the physical environmental factors of offices more positively than users between the ages of 46 and 65.
Originality/value
Especially the location of the building, the landscaping, the plan of the rooms and the landscape to which they are directed are major design decisions that cannot be controlled by employees. Therefore, it is necessary to know the positive/negative effects that may occur during use before making design decisions.
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Christopher W. Starr, Eliza Ruth Starr and Elaine Worzala
This paper aims to investigate the relationship of software company culture and core values and project management methodologies on the demand for corporate real estate (CRE)…
Abstract
Purpose
This paper aims to investigate the relationship of software company culture and core values and project management methodologies on the demand for corporate real estate (CRE), impacting decisions regarding location, square footage, office design and amenities.
Design/methodology/approach
A researcher-administered survey was designed with the assistance of a purposive sample of brokers, architects and interior designers to elicit responses from the CRE officers in software companies at four stages of growth, from small, entrepreneurial startups to large, publicly traded software companies, located in the same metropolitan area of the USA. Quantitative responses are summarized with traditional statistics and data visualizations. Linguistic analysis, including sentiment analysis and keyword relevance, was performed on the unstructured, English text responses.
Findings
Differences exist in the office layouts, amenities and locations across the four software company size categories studied. Linguistic analysis of company descriptions of office design, culture and core values, and the relationship between the two, provide another way for brokers, investors and other stakeholders to understand company perspectives and communication idioms related to CRE needs. The research was unable to show any differences in any dependent variable based on software project management methodologies due to sampling limitations.
Research limitations/implications
This study is limited by the sample size of the participating software companies based on access to company leadership. Results are not generalizable.
Practical implications
Architects, investors, brokers and lenders may find value in using this study’s approach to better understand the needs of software technology clients. Specifically, stakeholders may find value in examining the linkage from software company size, culture and core values to CRE office layout, amenities and location.
Originality/value
The qualitative findings suggest that software company culture and core values and company size influence the design of the CRE demanded by software companies. Multivariate data visualization was designed to communicate longitudinal CRE data. Linguistic analysis was used to extract the emotional content and relevance scores from company descriptions of office design, company culture and core values and the reported effect of culture and core values on office design. Findings may be beneficial for stakeholders involved in the design, location and future CRE investments, and they suggest the need for future research on a larger sample.
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André Kallåk Anundsen, Christian Bjørland and Marius Hagen
Commonly used rent indices are based on average developments or expert opinions. Such indices often suffer from compositional biases or low data coverage. The purpose of this…
Abstract
Purpose
Commonly used rent indices are based on average developments or expert opinions. Such indices often suffer from compositional biases or low data coverage. The purpose of this paper is to overcome these challenges using the authors' approach.
Design/methodology/approach
The authors construct a quality-adjusted rent index for the office market in Oslo using detailed data from 14,171 rental contracts.
Findings
The authors show that compositional biases can have a large impact on rental price developments. By adding building-fixed effects to a standard hedonic regression model, the authors show that the explanatory power increases considerably. Furthermore, indices excluding location-specific information, or which include less granular location controls than at the building level, portray quite a different picture of rent developments than indices that do take this into account. The authors also exploit information on contract signature date and find that a more timely detection of turning points can be achieved by using the signature date instead of the more typically used start date of the lease.
Research limitations/implications
The study is confined to Norwegian data, and an avenue for future research would be to explore if similar results are obtained for other countries. A weakness with the paper is that authors' do not observe quality changes over time, such as renovation. Controlling for time-varying and unit-specific attributes in hedonic models for the commercial real estate (CRE) market would be useful to purge indices further for compositional effects and unobserved heterogeneity. While the authors do control for building-fixed effects, there are additional variations within a building (floor, view, sunlight, etc.) that the authors do not capture. Studies that could control for this would certainly be welcome, both in order to estimate the value of such amenities and to see how it affects estimated rent developments. Another promising avenue for future research is to link data on rental contracts in the CRE market with firm-specific information in order to explore how firm profitability and liquidity may affect rental contracts.
Practical implications
The authors show that the hedonic index yields a sharper fall in rents after the global financial crisis and more muted developments in the period between 2013 and 2015 than the average rent index. The results show that rents have followed their estimated equilibrium closely and have re-adjusted quickly in periods of deviation. From a financial stability perspective, the risk of a sharp fall in rents is reduced because rents often are in line with their fundamentals.
Social implications
The authors find that a more timely detection of turning points can be achieved by using information on the signature date. This is an important finding. The financial system is heavily exposed toward CRE, and timely detection of turning points is critical for policymakers.
Originality/value
The financial system is heavily exposed toward the commercial real estate market and timely detection of turning points is of major importance to policymakers. Finally, the authors use our quality-adjusted rent index as the dependent variable in an error correction model. The authors find that employment and stock of offices are important explanatory variables. Moreover, the results show that rents have followed their estimated equilibrium path.
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