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This paper analyses the effect of potential lease expiry on the rental negotiation process and levels of rental agreed. Several observers have noted that tenants may use the threat of lease termination at rental negotiations in order to obtain a rental and/or other concession. It is argued that it will often be rational for the landlord to make a rental concession in these circumstances and a model that identifies a theory‐forecasted concession level for landlords is developed. However, the bargaining process will often cause deviation from an equilibrium solution. The concession level of the landlord will be a function of four variables: expected landlord’s cost of void, probability of tenant relocation, landlord’s risk preference and the effects of the bargaining process. Utility theory is used to illustrate why the risk averse or risk neutral landlord in a potential lease termination situation will always maximise his/her utility by conceding an amount on the open market rental value provided that the landlord perceives the probability of lease termination to be greater than zero. However, although it is possible to identify a positive solution to the calculation of maximum concession, behavioural approaches to bargaining theory suggest that differences in individual negotiator’s attributes, social contexts and cognitive biases will also affect the outcome of a negotiated rent setting process.

The purpose of this paper is to investigate the relationships between supply and demand in 19 European office markets in the period 1991‐2006. It estimates the variations in the price elasticity of supply across the different markets. The paper tests whether developers display evidence of myopic or rational expectations in their behaviour.

The paper draws upon a time series of rental, take‐up and new completions for 20 European office markets. A static measurement of price elasticity is calculated for each office market. To measure this expected supply response in the empirical analysis, the paper applies an impulse response analysis.

There is an evidence of positive and negative price elasticity. In a significant proportion of cities, supply increases following falls in rental levels. As a result, there is some evidence of myopic behaviour in a proportion of the markets examined, there is little evidence to support the hypothesis that real estate developers systematically display myopic expectations. The diversity in developer responses to price signals is surprising. It is concluded that idiosyncratic rather than systematic factors may dominate supply‐side responses to market signals.

This paper is essentially exploratory and raises a number of questions for further investigation. There is scope to address the research questions using better data series, in particular, net absorption rates, construction starts, real rental growth rates and different geographical definitions. There is also scope to extend the research to examine the causal factors underlying differences in supply elasticity, for instance, the relative contribution of constraining variables such regulatory restrictions and limitations in physical capacity. It is also possible to model the supply adjustment process more dynamically in an error‐correction framework.

The findings would suggest that the complexity and diversity of economic, institutional and capital market influences affecting European commercial real estate markets seem to be far too numerous for any single model of market or developer behaviour to explain.

This is the first paper to examine supply elasticity across a broad range of European office markets.

Lorenzo Bosi is currently ESRC Post-Doctoral Fellow at the Centre for the Study of Social & Political Movements of the University of Kent. His research examines social movements, political violence, as well as consolidated political identities and relations, in socio-politically polarized contexts such as Northern Ireland. He is also participating as an affiliated researcher in an international research project: The European Protest Movements since the Cold War.

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.

A thick cost frontier methodology is used to estimate pre‐ and postmerger X‐inefficiency in 348 mergers approved by the OCC in 1987/88. Efficiency improved in only a small majority of mergers, and these gains were unrelated to the acquiring bank's efficiency advantage over its target. These results are not consistent with the traditional market for corporate control story, in which well‐managed firms acquire poorly managed firms and subsequently improve their performance. Rather, the results suggest motivations other than cost efficiencies were driving U.S. bank mergers in the late 1980s. Efficiency gains were concentrated in mergers where acquiring banks made frequent acquisitions, suggesting the presence of experience effects.

The novel coronavirus (COVID-19) outbreak thrust a spotlight on organizational leaders and the challenges that employees face during periods of organizational change. The purpose of the current study is to examine the influence of empathetic supervisor communication on employee turnover intention and the mediating role of affective trust toward supervisors and employee–organization relationship (EOR) quality. Informed by the social exchange theory and EOR literature, the authors develop a model in which affective trust toward supervisors and EOR quality mediates the relationship between empathetic supervisor communication and employee turnover intention.

This study recruited 417 employees based in the USA through an online panel operated by a professional survey company. Data collection that followed a quota sampling procedure lasted for about three weeks in October 2020. The authors used structural equation modeling to test the study hypotheses.

The findings of this study indicated that the extent to which supervisors adopted empathetic communication during organizational change had considerable repercussions on their supervisees' affective trust toward supervisors, relationship perception toward their organizations, and ultimately, their turnover intention.

This study is among the first that identifies empathetic communication as a pivotal force in driving employees' positive relational and behavioral reactions, reinforcing the growing expectation of supervisors in fulfilling communication functions during organizational change. Moreover, the authors contribute to understanding change management as an activity rooted in and enacted through communication between supervisors and subordinates. In addition, this study contributes to the organizational research of empathy during change.

The purpose of this paper is to compare Fortune 200 and top startup chief executive officers’ (CEOs) communication strategies on Twitter and the effectiveness of these strategies in influencing public engagement. Specifically, guided by the dialogic communication theory and social presence theory, this study explored CEOs’ use of dialogic communication, social presence strategies and message tactics. Additionally, public engagement on Twitter measured by total number of likes, retweets and comments was associated with communication strategies utilized by CEOs.

This study employed the quantitative content analysis. A total sample of 720 posts from 36 CEOs were selected and analyzed. Drawing from prior studies, a coding scheme was developed and employed during the coding process. Two authors of this study served as coders and reached satisfactory inter-coder reliability. A series of χ² tests and negative binomial regressions were conducted for data analysis.

Neither Fortune 200 CEOs nor top startup CEOs fully utilized dialogic principles for Twitter communication. Although Fortune CEOs seemed to be experts in strategically tailoring messages and therefore present themselves on Twitter in a friendly manner, startup CEOs demonstrated a higher level of authenticity, animation and informality. Findings are mixed regarding the direction of associations between dialogic principles and public engagement.

This study expands the application of dialogic principles in examining online executive communication and its influence in public engagement on Twitter. This study was among the first that examined executive leadership communication in the context of social media setting. In this sense, the study shifted the internal focus of leadership research to investigating leaders’ interaction with a variety of online publics.