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Establishing the strength of a novel variable–mortgage debt as a fraction of US gross domestic product (GDP)–on forecasting capitalisation rates in both the US office and multifamily sectors.

The authors specify a vector error correction model (VECM) to the data. VECM are used to address the nonstationarity issues of financial variables while maintaining the information embedded in the levels of the data, as opposed to their differences. The cap rate series used are from Green Street Advisors and represent transaction cap rates which avoids the problem of artificial smoothness found in appraisal-based cap rates.

Using a VECM specified with the novel variable, unemployment and past cap rates contains enough information to produce more robust forecasts than the traditional variables (return expectations and risk premiums). The method is robust both in and out of sample.

This has direct implications for governmental policy, offering a path to real estate price stability and growth through mortgage access–functions largely influenced by the Fed and the quasi-federal agencies Fannie Mae and Freddie Mac. It also offers a timely alternative to interest rate-based forecasting models, which are likely to be less useful as interest rates are to be held low for the foreseeable future.

This study offers a new and highly explanatory variable to the literature while being among the only to model either (1) transactional cap rates (versus appraisal) (2) out-of-sample data (versus in-sample) (3) without the use of the traditional variables thought to be integral to cap rate modelling (return expectations and risk premiums).

The purpose of this paper is to identify different organizational models concerning both the functions and responsibilities assigned to corporate real estate (CRE) professionals in European and North American companies, as well as to determine the factors that influence the occurrence of these different management models.

An empirical survey between 74 major European and 38 North American companies from the banking, energy, telecommunication, and transportation and logistics industries is conducted.

Five typical models describing the allocation of responsibility of real estate functions within a company and the performance of those responsibilities are identified. Only weak statistical associations are found between these models and certain contextual factors that may influence the choice for a specific model, as well as between the models and certain achievements in CRE. From this, the paper infers that there does not exist one “best practice” CRE management model in a specific situation as often is stated, but instead, various promising organizational models seem to exist.

This paper contributes to a deeper understanding of the organizational variables “responsibility” and “performance” of real estate functions and presents a differentiated view compared to existing research. Specifically, this is the first paper that analyzes and attempts to categorize the various existing approaches to the allocation of responsibility for CRE functions, as well as accountability of the corresponding performance. As such, this paper can therefore serve as an initial point for further research on this topic.

This study examines the issue of cross‐continental publishing in real estate research to understand the research interaction between the two major English‐speaking countries and to determine if a home bias exists. This study also determines the extent to which authors from other countries publish in US and UK journals, and provide a ranking of non‐US universities and authors. The survey of top US and UK real estate journals from 1993 through 1998 reveals that a home bias exists. The home bias concentration is higher in US journals than in UK journals, while UK journals exhibit more balanced origins, emanating not only from the USA/Canada, but also from Australia, New Zealand and Asia. In addition, the study reveals that the Universities of Reading, Ulster and Glasgow are well placed among European universities, while the National University of Singapore ranks well in Asia. Top US researchers tend to publish exclusively in US journals; likewise the same is observed for UK researchers. However, some notable exceptions are observed. Finally, a possible reason for the home bias could be the different research approaches undertaken by US and UK journals.

Qualitative information‐gathering techniques are focused on to determine whether they can be adapted or adopted to support strategic goal‐setting. Much of the literature suggests that if planning is based on information gathered and presented in a manner which managers can understand they are more likely to act on it, and, for this reason, qualitative rather than quantitative techniques are stressed here. Factors which are not amenable to numerate analysis but which are useful to the strategic planner, such as experience, judgement and intuition, are also isolated and analysed. An attempt is made to facilitate the use of qualitative data‐gathering methods and suggestions are made as to where particular techniques may prove beneficial, together with their limitations. Research, from a small (n = 20), in‐depth survey of small business owners/ managers in Canada, is included which shows that they do not use quantitative planning processes but that judgemental techniques were most widely used; in general, the less sophisticated the planning process the higher it would be ranked among the survey participants. The research from other surveys also shows that scientific mathematically based models often do not fit with small business organisational reality and that methodologies should be developed that integrate research into the decision‐making process.

This paper aims to test two hypotheses related to the supposedly negative impact of rent control on residential mobility: the mobility of renters is, first, negatively related to how attractive their residential areas are and, second, relatively high for renters living in properties built after 2005.

This paper estimates logit and multinomial logit regressions and models household moves. The multinomial logit regressions separate between short- and long-distance moves and between moves to rentals and to owned dwellings. This paper uses the “relative income” of the tenants’ residential areas to proxy area attractiveness. This paper estimates regressions for entire Sweden and the three largest “commuting” regions and municipalities, respectively.

The full sample provides support of both hypotheses in all regressions. Hypothesis one gets stronger support for moves to other rentals than moves to owned dwellings but about equally strong support for short- and long-distance moves. Hypothesis one obtains strongest support in Gothenburg municipality while hypothesis two obtains strongest support in the Malmö region. Also, hypothesis two obtains stronger support for short-distance moves than long-distance moves and slightly stronger support for moves to owned dwellings than those to rented dwellings.

This paper does not estimate “how much” rent control affects mobility, and results cannot be used to design specific rent setting policies. Results may be sensitive to how different types of moves are defined.

Efforts to reform rent setting policies in Sweden are encouraged.

To the best of the author’s knowledge, this paper’s two hypotheses are not tested before in Sweden and can be tested without control groups.

The mass markets of previous decades have splintered into smaller market segments or niches, in which companies could be safer from cut‐throat competition and explore new market opportunities. Although part of a positioning strategy, niche marketing may be used as a deliberate marketing strategy to create “safe havens” and business opportunities for many companies. Aims to analyse the concept, basic issues and different methods of applying this marketing strategy.

We argue that voice – the sound that people produce when they speak – is an important resource for entrepreneurs, especially when they are pitching to potential investors. We integrate evidence from entrepreneurship, social psychology and linguistics to show that the voice can be regarded both as a tool for entrepreneurs to utilize and as a vital source of information allowing listeners to make judgements about the speaker and their message. To better understand how the voice may be used and interpreted in investment pitches, we develop a model of the relationship between the entrepreneurial voice and investor judgments. Voice depends on entrepreneurs’ characteristics including gender and communication goals but can be utilized to express emotions (purposefully or not) and signal qualities such as competence and trustworthiness. How potential investors interpret these displays depends on cultural expectations and stereotypes. Our review illustrates that female entrepreneurs may find it more difficult to persuade investors due to their naturally higher voice pitch and bias against speech patterns prevalent among young women. We highlight directions for future research exploring the voice as a unique cultural resource for entrepreneurs.