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Article
Publication date: 27 August 2021

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.

Details

Journal of European Real Estate Research, vol. 15 no. 2
Type: Research Article
ISSN: 1753-9269

Keywords

Open Access
Article
Publication date: 21 July 2022

Maria Carmela Annosi, Antonella Martini, Giacomo Marzi, Matteo Vignoli and Héctor Parra

This study aims to analyze what promotes the adoption of open innovation (OI) in the foodservice sector. Specifically, it seeks to shed light on the bottom-up mechanisms (the…

Abstract

Purpose

This study aims to analyze what promotes the adoption of open innovation (OI) in the foodservice sector. Specifically, it seeks to shed light on the bottom-up mechanisms (the microfoundations) that allow a foodservice firm to organize for OI.

Design/methodology/approach

The research design is an in-depth exploratory case study with 18 semi-structured interviews. The findings have been triangulated with documentation available on the corporate website, the project reports and direct observation. Data were analyzed using an inductive approach, coding individual interview transcripts.

Findings

This study identifies three categories of capabilities that have to be spread to different organizational levels: the capability to sense organizational triggers to change, to develop external collaborations and knowledge exchanges with different parties and the management's ability to be aware of organizational imperatives and the need to proceed with process adjustment. Results highlight the importance of sensing organizational triggers, allowing a quick switch between new strategies in implementing an OI approach. It was crucial for the company to co-develop new products and services with a large audience of stakeholders, not only limited to customers. The case remarks on the required ability of the organization and management team to activate mechanisms aimed at reconfiguring the competencies within each business unit, keeping an alignment with the needs of the stakeholders.

Originality/value

The study emphasizes the multi-level characteristics of OI and provides a framework for microfoundations on how to organize for OI. Results contribute to the recent debate on the skills and routines an organization should design and promote within their employees.

Details

British Food Journal, vol. 124 no. 13
Type: Research Article
ISSN: 0007-070X

Keywords

Open Access
Article
Publication date: 20 May 2021

Howard Cooke, Rianne Appel-Meulenbroek and Theo Arentze

This paper aims to identify the importance of individual variables in the corporate real estate (CRE) decision-making process.

1046

Abstract

Purpose

This paper aims to identify the importance of individual variables in the corporate real estate (CRE) decision-making process.

Design/methodology/approach

Nine experts received a posed scenario of a changed business strategy requiring a CRE reduction in individual interviews. Based on their suggested response, a decision network was modelled for each expert using the causal network elicitation technique, incorporating the utilities for decision variables and importance weights for attributes and benefits. The decision model offers a graphical representation of decision-benefit links for the decisions CRE managers make in such a period of decline.

Findings

Perceived facilitators of CRE dynamic alignment were identified by calculating lift ratios on their perceived importance of the attributes they mentioned during the interviews as nodes in the network that link decisions to benefits. Facilitators included CRE metrics and workplace strategy, while capital expenditure and landlords inhibit alignment processes. The research provides more granular insight into the variables used in CRE decision-making and the factors that facilitate or inhibit the dynamic alignment process.

Research limitations/implications

The research set a specific scenario for the experts to consider. That could be regarded as small but there was clear evidence of saturation of expert knowledge. Additional face-to-face interviews with the experts may have generated further details on the thought processes of the experts.

Practical implications

The research provides more granular insight into the variables used in CRE decision-making and the factors that facilitate or inhibit the dynamic alignment process. Thereby providing CRE decision-makers with key elements for a decision model.

Originality/value

The research technique, causal network elicitation technique, uses semi-structured interviews to create decision networks, which is a technique that has not been widely applied to CRE research. The research provides a granular view of what are important inhibitors or facilitators of dynamic alignment of CRE to business strategy.

Details

Journal of European Real Estate Research , vol. 14 no. 2
Type: Research Article
ISSN: 1753-9269

Keywords

Open Access
Article
Publication date: 9 December 2019

David Stewart Briggs, Richard Nankervis, John Baillie, Catherine Turner, Kevin Rigby and Lorin Livingstone

The purpose of this paper is to review the establishment of Primary Health Network (PHN) in Australia and its utility in commissioning Primary Health Care (PHC) services.

1666

Abstract

Purpose

The purpose of this paper is to review the establishment of Primary Health Network (PHN) in Australia and its utility in commissioning Primary Health Care (PHC) services.

Design/methodology/approach

This study is an analysis of management practice about the establishment and development of a PHN as a case study over the three-year period. The PHN is the Hunter New England and Central Coast PHN (HNECCPHN). The study is based on “insiders perspectives” drawing from documentation, reports and evaluations undertaken.

Findings

HNECCPHN demonstrates a unique inclusive organisation across a substantial diverse geographic area. It has taken an innovative and evidence-based approach to its creation, governance and operation. HNECCPHN addresses the health challenges of a substantial Aboriginal and/or Torres Strait Islander population. It contains significant and diverse urban, coastal and distinct rural, regional and remote populations. It can be described as a “virtual” organisation, using a distributed network of practice approach to engage clinicians, communities and providers. The authors describe progress and learning in the context of theories of complex organisations, innovation, networks of practice, knowledge translation and social innovation.

Research limitations/implications

The study provides initial publication into the establishment phase of a PHN in Australia.

Practical implications

The study describes the implementation and progress in terms of relevant international practice and theoretical concepts. This paper demonstrates significant innovative practice in the short term.

Social implications

The study describes significant engagement and the importance of that with and between communities, service providers and health professionals.

Originality/value

This is the first study of the results of the implementation of an important change in the funding and delivery of PHC in Australia.

Details

Public Administration and Policy, vol. 22 no. 2
Type: Research Article
ISSN: 1727-2645

Keywords

Content available
Article
Publication date: 1 March 2006

Jeannette Oppedisano and Kenneth Laird

This article presents a pedagogical model that utilizes students as primary researchers in the identification, interviewing, and then reporting on women entrepreneurs as a major…

1421

Abstract

This article presents a pedagogical model that utilizes students as primary researchers in the identification, interviewing, and then reporting on women entrepreneurs as a major component of a multidisciplinary entrepreneurship course. The purpose of the course is to attract students who may not be familiar with the entrepreneurship concept itself, the role of women in such economic ventures, or the possibilities for people like themselves in such a career avenue. Students are exposed to the accomplishments of women entrepreneurs throughout U.S. history in the broad categories of agriculture and mining; construction; communication; manufacturing; service (both for profit and not-for-profit); transportation; and wholesale and retail trade. This content experience is then enhanced by the studentsʼ own direct interaction with and interviewing of women entrepreneurs. The implementation, potential outcomes, and possible adaptations of the course are described, and this transformational learning process model is illustrated.

Details

New England Journal of Entrepreneurship, vol. 9 no. 2
Type: Research Article
ISSN: 2574-8904

Open Access
Article
Publication date: 21 August 2019

Minyoung Kwon and Hilde Remøy

Employees’ satisfaction and productivity is one of the main interests of employers. Psychological comfort can cause dissatisfaction with their work. Thus, it is important to…

9290

Abstract

Purpose

Employees’ satisfaction and productivity is one of the main interests of employers. Psychological comfort can cause dissatisfaction with their work. Thus, it is important to understand what factors contribute to employees’ satisfaction in workplaces. The purpose of this paper is to identify the weight of contribution of each design parameter on increasing psychological satisfaction.

Design/methodology/approach

The study included 579 employees in five offices in The Netherlands through an online survey. The typologies of offices vary in terms of office layouts, orientations and façade. Additionally, a parameter of desk location was included as this factor may be associated with user satisfaction. Kruskal–Wallis H test, categorical regression, and logistic regression analyses were performed to examine the impact of these design parameters on psychological user satisfaction.

Findings

The results revealed the impact of design parameters on the psychological satisfaction. The parameters of office layouts and desk locations were the significant predictor factors for the probability of satisfaction variables (e.g. privacy, concentration, communication, social contact and territoriality). The parameters for optimal satisfaction were found in cellular office, north-west oriented workstation and 4 m away from a window.

Originality/value

Psychological comfort is an inevitable aspect in user satisfaction studies. This paper, therefore, measures and predicts the relationship between design factors and employees’ satisfaction through case studies in The Netherlands. The findings help designers, architects, planners and facility managers to develop user-focussed office design principles supporting employees’ work performance.

Details

Facilities , vol. 38 no. 1/2
Type: Research Article
ISSN: 0263-2772

Keywords

Open Access
Article
Publication date: 25 June 2021

Chiara Tagliaro and Alessandra Migliore

This paper aims to explore the extent to which Covid-19 has challenged work habits and outcomes. The authors argue that after the lockdown period workers have been experiencing a…

5561

Abstract

Purpose

This paper aims to explore the extent to which Covid-19 has challenged work habits and outcomes. The authors argue that after the lockdown period workers have been experiencing a new work mode called “Covid-working”. The aim is to provide a first interpretation of this phaenomenon and elaborate on future real estate strategies and workplace policies based on this experience.

Design/methodology/approach

Using survey data, this research analyses Covid-working in a large-sized company in Italy. The survey was answered by 90 employees and addresses three domains: locations of work; a comparison between work-from-home (WFH) and work from the office; and outcomes of Covid-working vs office-working.

Findings

With Covid-working, the workers of the case company drastically changed their traditional work from the office approach to pure WFH. While this abrupt switch might generate difficulties in adaptation, this working practice was generally appreciated by this company’s workers. Positive and negative outcomes of Covid-working confirm previous studies on remote working. Recommendations on multi-location of work, new value for the headquarters and diversity empowerment open up avenues for future real estate strategies.

Originality/value

Observations on Covid-working are still limited and mainly appear on grey literature, due to the newness of this phaenomenon. Empirical studies such as the proposed one can increase companies’ awareness of the positive and negative outcomes of this experience and support their future workplace strategies.

Details

Journal of Corporate Real Estate , vol. 24 no. 2
Type: Research Article
ISSN: 1463-001X

Keywords

Open Access
Article
Publication date: 7 September 2023

Saul Nurick and Andrew Thatcher

This paper aims to investigate green buildings and individual productivity, specifically within the context of indoor environmental quality (IEQ) within green certified office

Abstract

Purpose

This paper aims to investigate green buildings and individual productivity, specifically within the context of indoor environmental quality (IEQ) within green certified office buildings. The purpose of the research was to determine how self-assessed productivity levels were influenced by the indoor environment of the office building.

Design/methodology/approach

Qualitative data analysis was conducted via semi-structured interviews in two financial services companies (FSCs), both based in green certified office buildings in South Africa. Thematic analysis was conducted to extract common themes from the data. Furthermore, the data were compared to previous research to identify new potential pathways or provide support for existing pathways.

Findings

The main findings were that physical components, such as temperature, lighting, ventilation and noise, contribute depending on the respondent to individual productivity, engagement, organisational commitment and psychological wellbeing. Safety, underpinned by location and amenities, was a new component not previously considered that subtly contributed to individual productivity.

Originality/value

The research provides valuable insight into the contributing factors that impact individual productivity within a green certified office building, as previous researchers have yet to reach a consensus on the relationship between individual productivity and IEQ in green certified office buildings.

Details

Journal of Corporate Real Estate , vol. 25 no. 4
Type: Research Article
ISSN: 1463-001X

Keywords

Open Access
Article
Publication date: 26 February 2024

Piotr Buła, Anna Thompson and Agnieszka Anna Żak

We aimed to analyze the impact of the transition to the hybrid model of teamwork and team dynamics from the perspective of the five key challenges, i.e. communication…

1088

Abstract

Purpose

We aimed to analyze the impact of the transition to the hybrid model of teamwork and team dynamics from the perspective of the five key challenges, i.e. communication, coordination, connection, creativity and culture.

Design/methodology/approach

To achieve the stated aim, we conducted a literature review and then an exploratory qualitative study. We split the research into phases: December 2021 to January 2022 and July to August 2022. In the first phase, we conducted computer-assisted online interviews (CAWIs) with all members of the remote team and an in-depth interview with the manager. After the transition from remote to hybrid work in February 2022, we returned to the team to conduct in-depth interviews with team leaders and the manager.

Findings

We identified key findings, i.e. managerial implications of differences across the 5 Cs (communication, coordination, connection, creativity and culture) noted in the functioning of the analyzed team as the team shifted from fully remote work to the hybrid work model.

Research limitations/implications

We concluded that if people do not spend time together and are not impregnated with the unique culture and values of a given organization, they will not feel a connection to its distinctive ethos and may choose to leave. In the longer-term, the last challenge may be the biggest single opportunity for employees post-pandemic and concurrently the single biggest challenge that organizational leadership will need to address, given that sustainable market success depends on talent.

Originality/value

The results showed that team communication, teamwork coordination, social and emotional connections among team members, nurturing of creativity, as well as of the organizational culture were of high importance to the team in the hybrid work model. Thus, we confirmed the findings of other authors. The study contributes to our understanding of the impact of the hybrid work model on teamwork and team dynamics and provides some guidance on how organizations can mitigate these, in particular through the team manager.

Details

Central European Management Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2658-0845

Keywords

Content available
Article
Publication date: 1 March 1998

64

Abstract

Details

Facilities, vol. 16 no. 3/4
Type: Research Article
ISSN: 0263-2772

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