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Healthcare property has become an important alternate property sector in recent years for many international institutional investors. The purpose of this paper is to assess the risk-adjusted performance, portfolio diversification benefits and performance dynamics of French healthcare property in a French property portfolio and mixed-asset portfolio over 1999–2020. French healthcare property is seen to have different performance dynamics to the traditional French property sectors of office, retail and industrial property. Drivers and risk factors for the ongoing development of the direct healthcare property sector in France are also identified, as well as the strategic property investment implications for institutional investors.

Using annual total returns, the risk-adjusted performance, portfolio diversification benefits and performance dynamics of French direct healthcare property over 1999–2020 are assessed. Asset allocation diagrams are used to assess the role of direct healthcare property in a French property portfolio and in a French mixed-asset portfolio. The role of specific drivers for French healthcare property performance is also assessed. Robustness checks are also done to assess the potential impact of COVID-19 on the performance of French healthcare property.

French healthcare property is shown to have different performance dynamics to the traditional French property sectors of office, retail and industrial property. French direct healthcare property delivered strong risk-adjusted returns compared to French stocks, listed healthcare and listed property over 1999–2020, only exceeded by direct property. Portfolio diversification benefits in the fuller mixed-asset portfolio context were also evident, but to a much lesser extent in a narrower property portfolio context. Importantly, this sees French direct healthcare property as strongly contributing to the French property and mixed-asset portfolios across the entire portfolio risk spectrum and validating the property industry perspective of healthcare property being low risk and providing diversification benefits in a mixed-asset portfolio. However, this was to some degree to the loss or substitution of traditional direct property exposure via this replacement effect. French direct healthcare property and listed healthcare are clearly shown to be different channels in delivering different aspects of French healthcare performance to investors. Drivers of French healthcare property performance are also shown to be both economic and healthcare-specific factors. The performance of French healthcare property is also shown to be different to that seen for healthcare property in the UK and Australia. During COVID-19, French healthcare property was able to show more resilience than French office and retail property.

Healthcare property is an alternate property sector that has become increasingly important in recent years. The results highlight the important role of direct healthcare property in a French property portfolio and in a French mixed-asset portfolio, with French healthcare property having different investment dynamics to the other traditional French property sectors. The strong risk-adjusted performance of French direct healthcare property compared to French stocks, listed healthcare and listed property sees French direct healthcare property contributing to the mixed-asset portfolio across the entire portfolio risk spectrum. French healthcare property’s resilience during COVID-19 was also an attractive investment feature. This is particularly important, as many institutional investors now see healthcare property as an important property sector in their overall portfolio; particularly with the ageing population dynamics in most countries and the need for effective social infrastructure. The importance of French direct healthcare property sees direct healthcare property exposure accessible to investors as an important alternate real estate sector for their portfolios going forward via both non-listed healthcare property funds and the further future establishment of more healthcare REITs to accommodate both large and small institutional investors respectively. The resilience of French healthcare property during COVID-19 is also an attractive feature for future-proofing an investor’s portfolio.

This paper is the first published empirical research analysis of the risk-adjusted performance, diversification benefits and performance dynamics of French direct healthcare property, and the role of direct healthcare property in a French property portfolio and in a French mixed-asset portfolio. This research enables empirically validated, more informed and practical property investment decision-making regarding the strategic role of French direct healthcare property in a portfolio; particularly where the strategic role of direct healthcare property in France is seen to be different to that in the UK and Australia via portfolio replacement effects. Clear evidence is also seen of the drivers of French healthcare property performance being strongly influenced by healthcare-specific factors, as well as economic factors.

The aim of this study is to analyze which socioeconomic factors (economic, demographic, and political) most commonly affect the social expenditure of the European Union (EU) and Organization for Economic Co-operation and Development (OECD) countries.

A panel data fixed-effects model is employed for 34 OECD and 23 EU countries between 2000 and 2020.

Results indicate that, in all country groups, economic factors have the most significant influence on social expenditures, with income being the primary determinant, particularly in EU countries. The negative impacts of unemployment and inflation underscore the importance of counter-cyclical measures adopted by countries to maintain stability in their social expenditures. The most influential demographic factor is found as the old-age-dependency ratio. While the rule of law affects social expenditure positively, government effectiveness and female labor force participation affect it negatively. The positive effect of Konjunkturforschungsstelle (KOF) indexes shows the globalization effect, which can be attributable to the compensation hypothesis.

Governments enforce inclusive and sustainable policies to boost economic activities and GDP, thus combating inflation and unemployment and regulating the labor market and socioeconomic problems about aging populations and women’s economic participation to control social expenditures. The rule of law and institutional quality will also boost economic growth.

This study focuses on the effects of social expenditures in a broader view within the framework of the three main factors (economic, demographic, political) and attempts to determine the key factors that account for the differences in social expenditure between the OECD and EU countries.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-05-2023-0384

This paper aims to develop a compound measure, which is fiscal vulnerability index, provides early warning signals of fiscal sustainability problems for Türkiye's economy.

The index is constructed using twelve distinct fiscal indicators and applying the portfolio method, which considers the time-varying cross-correlation structure between the subindices.

Dynamics of the fiscal vulnerability index indicate that it accurately predicts to the well-known fiscal crisis occurring in Türkiye's recent history. As a result, such a compound measure should be used in the early identification of fiscal vulnerability in Türkiye.

The main contribution of this paper, relative to existing papers, is that a fiscal vulnerability index was constructed by employing the most contemporaneous method and evaluating its performance in terms of capturing historical stress periods.

The main objective of this research is to exploratorily analyse different factors that influence the decision of the senior population (+50 years) to engage in entrepreneurship activities in a group of Latin American countries. This study considers the motivations for entrepreneurship (opportunity and necessity) and the level of development of the countries.

The authors used data from the Global Entrepreneurship Monitor (GEM) with a sample of 22,139 observations of senior individuals in seven Latin American countries surveyed between 2013 and 2017. The authors also used the Human Development Index to capture the relevance of the level of development. The authors employed a multilevel logistic regression model to test the study hypotheses.

The study results show that individual factors such as personal income, education and occupation have a significant influence on the probability of entrepreneurship of senior individuals. Related to contextual factors, the level of human development of a country has a negative influence mainly on opportunity-based entrepreneurs.

Because of the rapidly ageing population in Latin America, understanding senior entrepreneurs and their motivations is very relevant not only in terms of theoretical development but also for policy and practical implications, primarily those related to labour markets and social protection.

This study aims to critically evaluate resource dependence theory’s (RDT) assumptions and explanations about dependence and the dependent firm’s strategic options. The authors argue that RDT’s perception of dependence is problematic because it evaluates dependence as a purely negative situation in which all firms, by definition, seek to develop strategies to change the power structure of such relationships. On the contrary, the authors argue that there are situations in which dependent firms are in agreement with dependence and, therefore, develop strategies that do not aim to change the balance of power in the relationship, but rather to strengthen their position within the relationship.

The research is designed as a theoretical discussion. The authors critically evaluate and discuss current understanding and assumptions about RDT’s dependence explanations. Drawing on insights from the strategic management literature, the authors offer a new perspective on the problematic areas in the dependence explanations of the RDT.

Drawing on insights from the strategic management literature, the authors argue that dependent firms enjoy certain advantages due to the dependence relationship to gain sustainable competitive advantages over their rivals and potential competitors. These advantages include factors such as increasing growth potential, developing capabilities and competencies, building relationships of trust with powerful firms and leveraging their reputations and references that contribute to the sustainable strategic advantages of dependent firms. The authors believe that this study has the potential to spur new research that further challenges the assumptions of the RDT and empirically tests its propositions.

The authors propose a research framework on dependence as a strategic option that has the possibility of expanding RDT’s current dependence explanation.

This research designed, optimized and tested a context-specific scale to evaluate public sector employees' pension choices.

The authors developed the scale using a comprehensive process of interviews and focus groups with experts across academia and finance. The authors used the refined scale to collect data from 564 faculty members in public sector universities following a multistage systematic cluster sampling technique. The findings revealed diversity in choice across different socio-economic and demographic variables.

The results revealed that items related to the defined benefit pension system explain most of the data variance and are preferred widely. This is followed by a preference for monetizing pension benefits and a defined contribution system. These findings indicated the need for flexible pension plans.

Therefore, the progressive movement towards monetization and the shift from defined benefit to a defined contribution pension system due to economic pressures must be accurately calculated and introduced where it is suitable.

Although the theory of introducing a defined contribution pension system and monetization system is appealing, its practical implementation may not be encouraging for all employees.

The aging population, a higher proportion of older adults (aged 65+), is considered a global and severe problem, while the information systems (IS) literature on detecting the relationship between the aging population and the development of electronic commerce (e-commerce) is limited and insufficient. Hence, the main objective of this paper is to examine whether an aging population can moderate the effect of infrastructure constructions on e-commerce sales and whether an aging population can affect e-commerce sales.

To investigate the relationship between the aging population and e-commerce sales, this study proposes two potential influential mechanisms: moderating the effects of infrastructure development on e-commerce sales and direct influence. Subsequently, a sample of 31 Chinese provinces from 2013 to 2019 is utilized to conduct regression analyses in order to examine these hypotheses.

The findings suggest that the development of urban transportation infrastructure and network constructions can significantly contribute to the enhancement of e-commerce sales, and the influence cannot be affected by aging population. Furthermore, it is noteworthy that an aging population can have a positive effect on e-commerce sales.

The findings can inform future infrastructure constructions by assessing the potential of infrastructure projects to boost e-commerce sales and examining whether this effect varies in an aging population context.

The findings substantiate the pivotal role of older adults in the e-commerce industry. Moreover, the obtained results establish a positive relationship between an aging population and e-commerce sales, thereby offering diverse perspectives on existing theories.

Few empirical studies examined the relationship between life expectancy and income in India. This study aims to examine the impact of life expectancy on economic growth in India by incorporating all the major states of India.

This study is based on secondary data and includes 16 major states of India covering the periods 2000–2014. The author used panel fixed effect model (FEM) to examine the impact of life expectancy on economic growth.

Empirical analysis revealed a positive trend in life expectancy in India. In association with life expectancy, the author found continuous growth in the elderly population. The result of the FEM shows that gains in life expectancy positively affect economic growth in India. The empirical findings do not support any negative impact of life expectancy gains on economic growth.

This study is the outcome of the independent and original research work of the authors and contributes significantly to the literature on the demography–economic relationship. The findings of this study help the author to understand that life expectancy gain is in no way a constraint, rather the skill and experience of the workforce are crucial to determining economic growth.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-06-2022-0422.

Material inheritance transmission is a normative task in later life that has been scarcely studied, particularly when involving older childless adults. This study aims to deepen the knowledge about the transmission of material inheritances by older (65+ years) childless Portuguese adults.

This qualitative exploratory study comprises 43 participants. A semi-structured interview was administered and submitted to content analysis.

Material inheritance transmission involves precipitant events (realizing they will not have children), deciding on content and moment (what and when), planning (getting legal advice, making a will and preventing family conflicts), distributing (usually based on values of reciprocity and strategic exchange) and resolution (marked by conflict).

Material inheritances have been mostly studied from economic and legal perspectives. This research examines material inheritances transmissions within family dynamics, showing that older childless individuals seem to use material inheritances in a strategic exchange way, to ensure they will be well cared for in old age.

The purpose of this study to highlight the changing living patterns in the Pakistani community from joint family to nuclear family setup which is becoming the main reason for the loss of days when family members used to be responsible for elderly care. The ageing population in Pakistan are suffering from severe health and care issues. The Pakistani society, which once used to consider the senior citizen as a blessing now started considering them as a forced liability.

This study adopts the qualitative research strategy and interviews conducted in the local language with five women and men elderly each residing in old folk homes.

The study revealed that the main reasons behind increasing old folk trends in Pakistan are lack of family support, migration of children, less community awareness, economic issues, loneliness, dementia and invasion of western culture.

This study adopts the qualitative research strategy and interviews conducted in the local language with five women and men elderly each residing in old folk homes. The study revealed that the main reasons behind increasing old folk trends in Pakistan are lack of family support, migration of children, less community awareness, economic issues, loneliness, dementia and invasion of western culture.