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The present study delves into the causes of relatively lower retail participation in the Indian REIT market. Specifically, it investigates investors' attitudes and perceptions towards REITs as a unique asset class. This paper provides a comprehensive understanding of the perception and factors influencing Indian retail investors' reluctance to participate in the REIT market.

Qualitative research was conducted through semi-structured interviews to gather insights from non-investors in REITs. The data were transcribed and analyzed using content analysis techniques. Finally, coding techniques were used to identify broad study themes.

According to the study results, many retail investors are unfamiliar with REITs. Even among those knowledgeable about REITs and with a favorable view, it is not commonly seen as a feasible investment option due to its early stage, unattractive returns and limited number of REITs.

Developed countries have established REIT markets, while it is still in its infancy in developing countries such as India. Financial advisors, fund houses and the media should focus on educating investors to increase awareness.

The study is the first qualitative investigation into the perception of retail investors to understand the reasons for lower retail engagement in the Indian REIT market.

The purpose of this paper is to develop an index for measuring urban house price affordability that integrates spatial considerations and to explore the drivers of housing affordability using the post-least absolute shrinkage and selection operator (LASSO) approach and the ordinary least squares method of regression analysis.

The study is based on time-series data collected from 2005 to 2021 for 256 prefectural-level city districts in China. The new urban spatial house-to-price ratio introduced in this study adds the consideration of commuting costs due to spatial endowment compared to the traditional house-to-price ratio. And compared with the use of ordinary economic modelling methods, this study adopts the post-LASSO variable selection approach combined with the k-fold cross-test model to identify the most important drivers of housing affordability, thus better solving the problems of multicollinearity and overfitting.

Urban macroeconomics environment and government regulations have varying degrees of influence on housing affordability in cities. Among them, gross domestic product is the most important influence.

The paper provides important implications for policymakers, real estate professionals and researchers. For example, policymakers will be able to design policies that target the most influential factors of housing affordability in their region.

This study introduces a new urban spatial house price-to-income ratio, and it examines how macroeconomic indicators, government regulation, real estate market supply and urban infrastructure level have a significant impact on housing affordability. The problem of having too many variables in the decision-making process is minimized through the post-LASSO methodology, which varies the parameters of the model to allow for the ranking of the importance of the variables. As a result, this approach allows policymakers and stakeholders in the real estate market more flexibility in determining policy interventions. In addition, through the k-fold cross-validation methodology, the study ensures a high degree of accuracy and credibility when using drivers to predict housing affordability.

The purpose of this paper is to explore the relationship between formal ethics and ethics in practice in the empirical context of real estate agents (REAs) working in the residential housing market, including owner-occupied houses and owner-occupied apartments, in Sweden. The paper investigates problems with the Swedish middleman model of real estate agency with regard to the acceptance among REAs of borderline professional behavior.

We report on a survey distributed to all Swedish licensed residential REAs to investigate their attitudes towards eight scenarios displaying borderline ethical behavior. Firstly, the means of each scenario were calculated, investigating signs of distance between formal ethics and ethics in practice. Secondly, logistic regressions were run for each scenario separately, thereby investigating factors affecting misconduct among REAs.

The empirical results show a clear difference between formal ethics and ethics in practice and also illustrate that some scenarios of borderline ethical behavior are creating greater problems for the REAs.

In Sweden, the seller is the principal, assigning the REA to sell a house or apartment, but the regulation is clear on the role of the licensed REA as responsible for promoting an informed and fair sales process where the buyer is safe to act without their own representative. Our study contributes with information to policymakers on possible areas for the development of the middleman model.

The paper is the first to empirically investigate the middleman model of a Swedish real estate agency in relation to the business ethics of the agents. The use of scenarios in close relation to the everyday working context of REAs as tests of ethics of practice is also of original methodological value to investigate possible diversions of professionals from national regulations.

Nowadays, thermal comfort plays a prominent role in contemporary construction practices. Appropriate thermal insulation not only offers energy efficiency benefits in buildings but also enhances occupant well-being, comfort, and productivity. Therefore, a comprehensive understanding of the thermal properties of building materials is essential. This research aims to prepare and investigate a lightweight gypsum-based composite incorporating nano montmorillonite with advanced thermal insulation properties, considering both quality and cost-effectiveness while ensuring environmental compatibility.

This study adopts a laboratory experimental approach. A gypsum sample (without additives) and seven samples of gypsum combined with varying percentages of sodium and calcium montmorillonite nanoclays undergo extensive testing and analysis. Subsequently, the properties of these samples are compared.

The results indicate that adding montmorillonite nanoclays to gypsum composites reduces the density of the tested samples and increases their porosity. Moreover, the thermal conductivity coefficient decreases in these samples, significantly improving the thermal insulation properties of the lightweight gypsum plaster. This improvement is more pronounced in samples containing sodium montmorillonite nanoclay compared to calcium-based samples. Additionally, the investigations reveal that compressive strength decreases with the addition of montmorillonite to the samples.

In this research, laboratory experiments were conducted to investigate the physical and mechanical properties of gypsum plaster with varying percentages of sodium and calcium montmorillonite nanoclays. The studied properties include density, porosity, thermal conductivity coefficient, and compressive strength. Additionally, stress-strain diagrams, elastic modulus, and initial and secondary critical stresses were analyzed for each specimen.

The study aims to assess the effectiveness of prevailing methods for quantifying physical climate risks. Its goal is to evaluate their utility in guiding financial decision-making within the real estate industry. Whilst climate risk has become a pivotal consideration in transaction and regulatory compliance, the existing tools for risk quantification frequently encounter criticism for their perceived lack of transparency and comparability.

We utilise a sequential exploratory mixed-methods analysis to integrate qualitative aspects of underlying tool characteristics with quantitative result divergence. In our qualitative analysis, we conduct interviews with companies providing risk quantification tools. We task these providers with quantifying the physical risk of a fictive pan-European real estate portfolio. Our approach involves an in-depth comparative analysis, hypothesis tests and regression to discern patterns in the variability of the results.

We observe significant variations in the quantification of physical risk for the pan-European portfolio, indicating limited utility for decision-making. The results highlight that variability is influenced by both the location of assets and the hazard. Identified reasons for discrepancies include differences in regional databases and models, variations in downscaling and corresponding scope, disparities in the definition of scores and systematic uncertainties.

The study assists market participants in comprehending both the quantification process and the implications associated with using tools for financial decision-making.

To our knowledge, this study presents the initial robust empirical evidence of variability in quantification outputs for physical risk within the real estate industry, coupled with an exploration of their underlying reasons.

This paper aims to review and assess the sustainable design and management considerations affecting workplaces’ productivity in Saudi Arabia.

The study uses a mixed approach, commencing with literature review, development and pilot-testing of a structured questionnaire instrument to assess design and management considerations towards productively sustainable workplaces (PSWs). In total, 31 considerations affecting sustainable workplaces’ productivity were identified and clustered under five main directions. A collective group of stakeholders, including architects/engineers (A/E), workplace users and facilities managers, were approached to correlate and compare their individual assessment of the identified PSWs. The relative importance index (RII) for each of the PSW considerations is correlated and discussed.

A high level of agreement is recognized among the three stakeholder groups for PSWs considerations’ assessed rankings. The provision of sufficient ventilation and illumination levels, availability of occupational health, security and safety, availability of ergonomically oriented technological infrastructure, availability of formal and informal meeting spaces, efficient space utilization and ergonomic workstations are all ranked highest in importance as design considerations towards PSWs.

The study stems from the need to understand how the PSWs’ design and management considerations are perceived by all streams of stakeholders. The findings identify the considerations’ importance for prioritization on PSWs’ investments.

This paper aims to work toward a new approach in providing green open spaces in the middle of urban land in Indonesia that has been densely built up and on it has attached land rights. An approach is needed through a specific spatial policy that contains zoning regulations for the provision of public green open spaces on top of residential houses built on the green zoning plans.

This approach considers an interconnected ecological holistic approach, as previously existing regulations have not normatively identified the green open space as an ecological landscape consisting of blue open spaces and several objects that function as green open spaces.

Indonesia in terms of green open space for local climate instrument is still identified as one of the three lowest countries in Southeast Asia in the number of green open space areas. We found that the regulating process of development rights and property rights, in the construction of Indonesian law, still requires many alternative efforts to this day in providing urban green open spaces. The delivery of desired outcomes depends on the alternative policy as a form of legal politics in compensating planning and community interests through developing green open spaces in an ecoregion approach.

This writing was shaped by the understandings of the author with regards to the development of urban green open space regulating issues in Indonesia as one of the emerging country group in Asia and Jakarta as the second-most populous urban area in the world. This paper aims to work toward providing green urban open spaces in Indonesia that has been densely built up and on it has attached land rights, through a specific spatial policy that contains zoning regulations for the provision of public green open spaces on top of residential houses built on the green zoning plans.

Climate change has led to a rise in the frequency, intensity and scope of droughts, posing significant implications for businesses. This study examines the impact of local community drought levels on audit pricing. Additionally, it explores the moderating effects of high-tech industries, auditor busyness and the level of local community concern regarding the drought crisis.

This study employs a mixed-methods approach to rigorously test the research hypotheses. The quantitative phase of the study utilizes a sample of 1,278 firm-year observations from Iran’s capital market. For the analysis of the quantitative data, ordinary least squares regression with clustered robust standard errors is used. Additionally, this research supplements its quantitative findings with qualitative evidence obtained through semi-structured interviews with 19 Iranian audit partners.

The results suggest that firms operating in provinces facing severe droughts experience notably higher audit fees. Furthermore, the positive relationship between drought and audit fees is weakened when auditors are busy, local community concern regarding the drought crisis is high or the firm operates within high-tech industries. These findings are supported by a range of robustness checks and qualitative evidence gathered from the field.

This research contributes to the growing literature on climate change by examining the influence of local community drought levels on audit pricing within an Iranian context. Additionally, our study sheds light on how high-tech industries, auditor workload and the level of local community concern regarding the drought crisis moderate the relationship between drought and audit fees. Importantly, our study pioneers in providing mixed-methods evidence of the association between drought severity and audit fees.

The New Zealand city of Christchurch provides a leading example of post-disaster rebuilding in a Central Business District (CBD) area. In its rebuilding programme, the city has given emphasis to the greening of hospitality and traditional retail space through a combination of development of shared pedestrian spaces (with traffic exclusion and calming) and the integration of greening within the streetscape design. This paper aims to assess whether the development of greened pedestrian areas leads to higher retail spending and, thus, retail rental rates.

This study uses pedestrian movement data collected from several CBD locations, as well as spending data on retail and hospitality, to assess relationships between pedestrian movements and spending. This study explores retail spending in greened pedestrian shared spaces, and explores how this differs from retail spending in traditional street areas within the Christchurch CBD.

Spending patterns are location-related, depending on the characteristics of pedestrian space in the selected area. Greened shared pedestrian areas have the highest spending per measured pedestrian for retail and hospitality, whereas traditional street areas have lower spending for retail and hospitality per measured pedestrian, demonstrating the benefits in redeveloped central city areas.

The scope of smart data continues to develop as a research area within urban studies to develop an open and connected city. This research demonstrates the use of innovative technologies for data collection, use and sharing. The results support commercial benefits of greening and pedestrianisation of retail and hospitality areas for CBDs and providing an example for other cities to follow.

The purpose of this research is to explore how an innovation organization's orientation toward the digital economy influences its position within R&D networks. By using institutional theory, the study aims to forecast market changes and understand how organizations can navigate the digital economy to secure essential resources and minimize dependencies.

This study employs a longitudinal panel dataset with 11,763 entries from 1995 to 2018, covering strategic emerging industries in China to analyze the impact of digital economy orientation on R&D networks. Utilizing advanced statistical models, it assesses the role of the legal environment as a moderator. This methodological approach facilitates a robust examination of the nexus between digital orientation and network dynamics within the context of institutional theory.

The study reveals that an organization's digital economy orientation enhances its centrality in R&D networks but reduces its control over structural holes. The legal environment negatively moderates the impact of digital economy orientation on network centrality, while positively influencing the relationship with network structural holes. These findings offer new insights into how institutional forces shape the strategic positioning of organizations in R&D collaborations.

This research offers a fresh perspective on the digital economy's impact on R&D networks, particularly in the Industry-University-Research (IUR) context. It extends the discourse by integrating institutional theory to elucidate the adaptation of R&D networks in the digital era. By identifying the legal environment as a moderator, the study provides a nuanced understanding of the strategic alignment within networks influenced by digital advancements. The unique focus on China's R&D networks presents a valuable contribution to the global discussion on digital integration and innovation ecosystems, highlighting the intersection of policy, academia, and industry in shaping research and development trajectories.