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1 – 10 of over 2000Omokolade Akinsomi, Olayiwola Oladiran and Zoe Kaseka
This paper aims to explore the impact of COVID-19 on office space in Johannesburg. This study further explores the role of changing work practices in the office sector in South…
Abstract
Purpose
This paper aims to explore the impact of COVID-19 on office space in Johannesburg. This study further explores the role of changing work practices in the office sector in South Africa because of the pandemic and its impact on future office space use planning and management.
Design/methodology/approach
To understand the footprints that the COVID-19 pandemic has left on the office space market in Johannesburg, this study uses semi-structured interviews, which were administered to corporate office users, and a thematic analysis was adopted to understand the views, perspectives and expectations of office users.
Findings
The study showed that space users perceive COVID-19-induced remote working as having benefits, opportunities and challenges. A notable shift in office space utilization has emerged, with employees increasingly opting for roles that permit remote work. This newfound flexibility, accommodating both on-site and remote work, often makes working from home more appealing than traditional office environments that may no longer align with users’ preferences for office spaces.
Research limitations/implications
The study is limited to Johannesburg, South Africa, and may not apply to other African markets. Ten in-depth interviews were conducted, and analysis and results were deduced; this may be considered a limitation of this study.
Practical implications
The pandemic’s impact has brought about irreversible changes, compelling policymakers and business leaders to strategize and prepare. This proactive stance aims to prevent avoidable challenges for employees and companies during future pandemics. A thoughtful approach to the post-pandemic world can usher positive changes in the office and property sector. This includes the coexistence of both remote work and on-site working models.
Originality/value
This paper provides valuable insight into some of the outcomes of the COVID-19 pandemic in South Africa that are essential for future office space use planning and management. The insights from this study extend the literature and provide novel knowledge based on an office sector in the “global south.”
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Raveena Marasinghe and Susantha Amarawickrama
This paper examines rent determinants and their relationship with commercial office property rents.
Abstract
Purpose
This paper examines rent determinants and their relationship with commercial office property rents.
Design/methodology/approach
The method adopted in this study differs from that of previous studies on this topic. Firstly, based on the survey of the viewpoints of experts, Relative Importance Index (RII) analysis was used to identify rent determinants and to rank and ensure their relevance and validity in the Sri Lankan context. Secondly, sampling of data related to 115 office properties collected from property tenants and landlords located within the central built-up area of Colombo City was conducted using a multi-methods approach to carry out an objective hedonic analysis of office rents.
Findings
This research utilizes RII and hedonic models to provide insights into determinants and relationships. Both analyses confirm that the three top drivers of commercial office rent are distance from the major town center, availability of parking space and the condition of the property. In addition to these three factors, hedonic models reveal that the age of the property and the availability of a conference hall also play a relevant role in explaining office rents. Given the disparities in the findings of the two methods, further examination was able to confirm that factors such as distance from the major town center, parking availability, age of the property, presence of a conference hall, building condition, floor size, business type and type of building are likely to influence commercial office rent. These findings reflect elements such as the quality, newness and better facilities of different office properties.
Practical implications
This systematic study and analysis of office rent for the guidance of real estate investors can support sound investment decisions, potentially leading to more financially sound property development, reduced public debt levels and improved public-private financing. Further, the research findings offer valuable insights to real estate investors, developers and planners regarding location decisions for office development quality enhancements in future office developments.
Originality/value
This research provides fresh insights into the local scale office market, an area where limited evidence currently exists. Further, the methodology adopted provides evidence that hedonic analysis, supported by a multi-method approach, can mitigate the subjective judgments made by professionals.
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Mete Unal Gi̇rgen and Ayman Kole
The aim of this study is to explain the educational practices that emerged with the concept of “new normal” in an overview. In line with this goal, the experiences of academics…
Abstract
Purpose
The aim of this study is to explain the educational practices that emerged with the concept of “new normal” in an overview. In line with this goal, the experiences of academics who are experts in their fields have been utilized.
Design/methodology/approach
This paper draws on both academic and trade literature. Interviews with representatives from schools providing tourism education in North Cyprus were conducted online and in-person. The qualitative research method in the form of the interview method was employed in the research. The research participants consist of 15 academics working in the field of tourism education. Additionally, concerning the selection of these participants, sector experience and applied lecture status were taken into consideration. As the second dimension of the research, an extensive literature review was conducted and the subject was expanded by explaining it with examples from around the world.
Findings
It has been revealed in the research that educational institutions and tourist businesses have to constantly renew themselves technologically. The findings obtained from academics include the innovations they use in the “new normal” tourism education in applications such as Hybrid/BL – Blended Learning, VR – Virtual Reality, Artificial intelligence, LMS & In-class response systems, API-based software systems in the courses they teach. The common opinion of academics who want to provide a better education is that educational institutions should always be infrastructurally prepared for such emergencies.
Originality/value
The global COVID-19 pandemic created economic destruction in many countries and brought life to a halt. In the tourism sector, one of the sectors most affected by the COVID-19 problem, various restrictions were imposed on touristic activities. While this situation caused a decrease in demand in the tourism sector, it paved the way for great technological changes and resulted in the adoption of new educational practices in institutions providing tourism education. This paper traces these new development in the face of the pandemic crisis.
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Xiaojie Xu and Yun Zhang
The Chinese housing market has witnessed rapid growth during the past decade and the significance of housing price forecasting has undoubtedly elevated, becoming an important…
Abstract
Purpose
The Chinese housing market has witnessed rapid growth during the past decade and the significance of housing price forecasting has undoubtedly elevated, becoming an important issue to investors and policymakers. This study aims to examine neural networks (NNs) for office property price index forecasting from 10 major Chinese cities for July 2005–April 2021.
Design/methodology/approach
The authors aim at building simple and accurate NNs to contribute to pure technical forecasts of the Chinese office property market. To facilitate the analysis, the authors explore different model settings over algorithms, delays, hidden neurons and data-spitting ratios.
Findings
The authors reach a simple NN with three delays and three hidden neurons, which leads to stable performance of about 1.45% average relative root mean square error across the 10 cities for the training, validation and testing phases.
Originality/value
The results could be used on a standalone basis or combined with fundamental forecasts to form perspectives of office property price trends and conduct policy analysis.
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Verdiana Giannetti, Jieke Chen and Xingjie Wei
Anecdotal evidence suggests that casting actors with similar facial features in a movie can pose challenges in foreign markets, hindering the audience's ability to recognize and…
Abstract
Purpose
Anecdotal evidence suggests that casting actors with similar facial features in a movie can pose challenges in foreign markets, hindering the audience's ability to recognize and remember characters. Extending developments in the literature on the cross-race effect, we hypothesize that facial similarity – the extent to which the actors starring in a movie share similar facial features – will reduce the country-level box-office performance of US movies in East and South-East Asia (ESEA) countries.
Design/methodology/approach
We assembled data from various secondary data sources on US non-animation movies (2012–2021) and their releases in ESEA countries. Combining the data resulted in a cross-section of 2,616 movie-country observations.
Findings
Actors' facial similarity in a US movie's cast reduces its box-office performance in ESEA countries. This effect is weakened as immigration in the country, internet penetration in the country and star power increase and strengthened as cast size increases.
Originality/value
This first study on the effects of cast's facial similarity on box-office performance represents a novel extension to the growing literature on the antecedents of movies' box-office performance by being at the intersection of the two literature streams on (1) the box-office effects of cast characteristics and (2) the antecedents, in general, of box-office performance in the ESEA region.
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Paul Andriot, Fabrice Larceneux and Arnaud Simon
In this article, the aim is to document the divergences/convergences between the market perceptions of quality and the financial estimations for office buildings relative to the…
Abstract
Purpose
In this article, the aim is to document the divergences/convergences between the market perceptions of quality and the financial estimations for office buildings relative to the notion of centrality and the distance to the central business district (CBD).
Design/methodology/approach
Based on a hierarchical approach that decomposes and estimates the perceived quality of buildings from the stakeholders’ perspectives, we study the geographies of perceived quality measures in the Greater Paris Metropolis and compare them to the financial geography.
Findings
The perceived location quality decreases with distance from the CBD whereas judgments on the built structure and the workplace do not, exhibiting a ring-shaped pattern. The gradient of the components of the perceived quality are heterogeneous, having positive, negative or null values. Appraisers tend only to consider the quality of location in their estimations.
Originality/value
This article raises the issue of fair spatial judgments by appraisers and the financial market. Monocentricity is not the rule in the market perceptions of quality. It suggests that financial estimates are strongly biased, with mental representation of centrality as a judgmental heuristic.
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INTERNATIONAL: Office market fall to hit bank health
Premasish Roy, Deepa Nair and Rikhi Yadav
The purposes of this paper are to examine the factors persuasive in building competitive advantage strategies for the co-living and co-working service operators and study the…
Abstract
Purpose
The purposes of this paper are to examine the factors persuasive in building competitive advantage strategies for the co-living and co-working service operators and study the sustainability of the business model for co-living and co-working space.
Design/methodology/approach
In this research, a structured literature review of journals, articles, reports, conference proceedings, websites published in recent times and e-newspapers has been conducted. The first step of the research included identifying the relevant literature. For this step, multiple keywords were used in searching for literature on Google.com, Google Scholar, Proquest, Taylor & Francis, Emerald, Elsevier. Upon literature identification, the procured reports were divided into the following three parts: co-living reports, co-working report and others. More than 250 content reports were analyzed, and finally, 105 relevant literature reports from various sources were recorded for further analysis. Focus group discussion and semi-structured interviews were also conducted.
Findings
This study concluded after analyzing the literature, focus group discussion and semi-structured interviews that co-working and co-living space would be sustainable business if proper competitive strategies were leveraged, in accordance with the increase in demand over time. This study also serves as a wakeup call for the operators in the co-living and co-working sphere to work on their competitive advantages and differentiate themselves to tap business opportunities. The sustainability of the model by identifying the factors was also emphasized in this study. Further studies of co-living and co-working models should be conducted in the Indian context to analyze the multifarious potential that this new trend of shared accommodation can open up.
Research limitations/implications
This study is based on content analysis, focus group discussion and semi-structured interview analysis. More content and literature were found to be evidenced mostly in Western literature. This is a limitation to the study. This study also had a limitation in including bigger sample of focus groups discussion and interviews; however, the analysis effectively set out a landscape of co-living and co-working space in India.
Originality/value
It is an original research work based on an existing concept and services. As co-living and co-working service operators are cropping up in major cities, enticing the target potential with a platter of services primarily linked with many of the beneficial factors, the researchers in this work attempt to examine the factors persuasive in building the competitive advantage strategies for the co-living and co-working space and the sustainability of these two business models. A ripe market with multifarious possibilities waiting to be tapped with the right plan of action is the need of the hour.
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This paper aims to develop a vision for the future identifying how digital nomadism affects the labor markets in the tourism industry.
Abstract
Purpose
This paper aims to develop a vision for the future identifying how digital nomadism affects the labor markets in the tourism industry.
Design/methodology/approach
The qualitative research method was used. The research data were collected using a semistructured interview form developed by the researcher. The sample consists of twenty people working in the tourism industry as tour guides, travel agency owners, accommodation sector employees and professional managers. The content analysis method was used to analyze the data.
Findings
It was found that employees in the tourism industry are familiar with digital nomadism, interact with employees working as digital nomads and may prefer the digital nomad way of working, while employees in the accommodation sector cannot work as digital nomads due to the nature of their work. It is shown that digital nomadism can be applied to tour guides and travel agency owners.
Research limitations/implications
The data was collected from employees of the accommodation sector, travel agencies, tour guides and employees of the Turkish tourism labor market. It is recommended that the tourism labor markets adapt to the digitalized world and adjust their working models in this context.
Originality/value
This is one of the first studies on the impact of digital nomadism on the tourism labor markets.
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Julia Gracheva and Brenda H. Groen
This paper aims to determine the advantages and disadvantages associated with integrating a coworking environment into the real estate portfolios of large office-based…
Abstract
Purpose
This paper aims to determine the advantages and disadvantages associated with integrating a coworking environment into the real estate portfolios of large office-based organizations. The study discusses both external and internal coworking solutions.
Design/methodology/approach
This paper is a literature review and qualitative research based on 12 semistructured interviews with high-level real estate practitioners, including users, suppliers and consultants.
Findings
The authors examined the advantages and disadvantages of incorporating coworking environments into the real estate portfolios of large organizations from the four perspectives of Krumm et al. (2000). These perspectives were operationalized through the 12 real estate added value parameters of Jensen and Van der Voordt (2017). The findings show that improved adaptability is the greatest advantage of external coworking solutions (facility management perspective). The most significant advantage of internal coworking is related to stimulation of innovation, creativity and knowledge sharing (general management perspective). The disadvantages of external and internal coworking partly overlap and are mainly the negative effect on the corporate culture (general management perspective).
Originality/value
The findings contribute to the understanding of the advantages and disadvantages of incorporating both external and internal coworking solutions from multiple perspectives and allow to compare them. The authors developed and tested an operationalization of the four perspectives of Krumm (2000) through the 12 added values of Jensen and Van der Voordt (2017). Opinions and perceptions of professionals regarding internal and external coworking models are presented in a framework and related to earlier findings.
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