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Over a long period, even low inflation has an impact on portfolio value and households’ purchasing power. In such a context, inflation hedging should remain an important issue for investors. In particular, long-term investors, who are concerned with the protection of their wealth, seek to hold effective hedging assets. This study aims to demonstrate that residential assets in “Grand Paris” are a hedge against inflation and particularly against its unexpected component.

In this study, the physical residential markets in 127 communes in Paris and the Parisian first-ring suburbs are considered as potential asset classes. We simplified the analysis by clustering the 127 communes into five homogenous groups using ascending hierarchical classification (AHC). Then, we test the hedging ability of these groups within a mixed asset portfolios using both correlation and regression analysis.

This paper presents an analysis of the “Grand Paris” housing market and its inflation hedging ability with comparison to other financial asset classes. Results show that the five housing groups act as a highly positive hedge against unexpected inflation. Furthermore, cash and bonds seem to provide, respectively, a partial and an over hedge against unexpected inflation. Stocks act as a perverse hedge against unexpected inflation and provide no significant hedge against expected inflation. Also, indirect listed real estate demonstrates little correlation with inflation, which makes us reject its hedging ability contrary to physical residential real estate.

The inflation topic: although several researches exist that question the hedging property of real estate, very few concentrate on physical residential assets and to the best of the authors’ knowledge, this study is the only one that targets the “Grand Paris” area. Residential assets of the “Grand Paris” communes are confirmed to be a hedge against inflation and particularly against its unexpected component thanks to its capital appreciation rather than income one. Also, we show that the listed real estate in France (Sociétés d’Investissement Immobilier Cotée) does not provide the same hedging properties contrary to the US real estate investment trusts (REITs) who demonstrate this ability. Listed real estate could thus not be used interchangeably with housing to protect from inflation in the French market.

Protection of investors against inflation and in particular in the face of its return to France in 2022. Reassuring promoters and investors of the interest of residential investment projects in “Greater Paris” and of the potential that this holds.

Inflation takes a chunk out of the purchasing power of money and thereby erodes the real value of people’s finance. Investors and households who seek protection from inflation erosion should invest in direct housing, and in particular within areas that are experiencing an effective metropolization process.

The originality of the study is precisely relative to the geographical area studied. The latter has experienced favorable economic conditions for several years and offers interesting fundamentals to explore and exploit in investment strategies that prove capable of protecting against imminent inflation. The database is specific to this project and has been built through the compilation of several sources and with the support of BNP Paribas Real Estate.

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.

This study aimed to investigate and analyze the level of awareness and adoption of distributed ledger technologies (DLTs) within the Nigerian construction industry. The focus was on addressing the current state of DLT utilization, identifying challenges and opportunities and proposing strategies to enhance the integration of DLTs into the construction processes and practices of Nigerian professionals and organizations.

The research was underpinned by a robust theoretical and conceptual framework, drawing from established theories of technology adoption. A comprehensive literature review guided the identification of various DLT types. This informed the development of a well-structured questionnaire, which was then distributed to Nigerian construction professionals. The collected data underwent analysis using percentages, frequencies, mean scores, the Kruskal–Wallis H-test and the Shapiro–Wilk test.

A significant finding of this study reveals a generally low awareness and implementation of DLT among construction professionals in Nigeria. These findings emphasize the urgent need for comprehensive strategies to bridge the gap between awareness and adoption of DLT within the Nigerian construction industry.

Industry associations, regulatory bodies and educational institutions can collaborate to develop specialized programs aimed at familiarizing professionals with the benefits and applications of DLTs. Additionally, technology providers and policymakers can leverage these findings to design user-friendly interfaces and guidelines for seamless DLT integration into construction processes.

This study contributes to the existing body of knowledge by providing a comprehensive assessment of the awareness and adoption of DLTs specifically within the Nigerian construction industry. While the global recognition of DLT’s potential in construction is acknowledged, this research delves into a regional context, shedding light on the specific opportunities within Nigeria. Furthermore, the study’s identification of a gap between awareness and implementation highlights a critical area for future exploration and development in the field of construction technology adoption.

This case invites students to assess the impact that Brexit, the withdrawal of the United Kingdom from the European Union, might have on a New York–based hedge fund's portfolio and, specifically, its UK assets. The case is designed to prompt students to make market assumptions and investment hypotheses based on a combination of numerical data and qualitative information. It requires no numerical computations; instead, it asks the student to interpret both markets' short-term reactions to the Brexit vote and strategy shifts from UK and European business leaders in order to evaluate longer-term implications for the economies of the United Kingdom, Europe, and the world.

This paper aims to examine the performance efficiency of 56 real estate assets within the rental sector in the UAE to evaluate the relative operation efficiency in relation to revenue generation.

The data envelopment analysis (DEA) approach was used to measure the relative operational efficiency of the studied assets in relation to the revenue performance. This method could produce a more informed and balanced approach to performance measurement.

The outcomes show that scores of efficiencies ranging from 7% to 99% in some of the models. The results showed that on average buildings are 75% relatively less efficient in maintenance, in term of revenue generation, than the benchmark set. Likewise, on average, the inefficient buildings are 60% relatively less efficient in insurance. Result also shows that 95% of the building assets in the sample are by and large operating at decreasing returns to scale. This implies that managers need to considerably reduce the operational resources (input) to improve the levels of revenue.

This study recommends that the FM operational variables that were found to inefficiently contribute to the revenue should be re-examined to test the validity of the findings. This is necessary before generalising or interpolating the results that are presented in this study.

The information obtained about operational performance can help FM managers to understand which improvements in the productivity of inefficient FM resources are required, providing insight into how to reduce operating costs and increase revenue.

This paper adds value in using new FM operational parameters to evaluate the efficiency of the performance of built assets.

Under the background of continuous sluggishness of the real economy and expansion of asset sectors, the Chinese economy exists a trend of “from the real to the virtual.” Managing the corporate financialization is the key to prevent the real economy “from real to virtual.” The paper explores the influence of family involvement on corporate financialization since family firms are an important proportion of real sectors.

Based on Socioemotional Wealth Theory, this paper makes empirical study using the data of Chinese A-share listed companies from 2008 to 2022 to explore the influence of family involvement on corporate financialization, mainly from the perspectives of family engagement, family identity of CEO and family control power.

These are the findings: (1) Family engagement will inhibit corporate financialization; (2) Compared with employing external managers, family members acting as CEOs will decrease corporate financialization; (3) The proportion of family ownership is negatively correlated with the level of corporate financialization.

The originality of this paper include these: (1) Analyzing the differences in the financialization of real enterprises with different characteristics and attributes; (2) Expanding the research on the internal motivation of the financialization of the real enterprises, and supplementing the research literature on family firms and corporate financialization; (3) Exploring the internal influence mechanism of financialization of family firms under the background of Chinese culture.

This study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real estate companies divided into the three macro-regions: North, Centre and South, in the period 2011–2020. In this way, it is also possible to verify the responsiveness to the 2020 pandemic crisis.

The analysis uses descriptive statistics tools and the ANOVA method of analysis of variance, supplemented by the Tukey–Kramer test, to identify significant differences between the three Italian macro-regions.

The study shows the increase in profitability after the 2008 crisis, despite its reverberation in the years 2012–2013. The financial structure of companies improved almost everywhere. The pandemic had modest effects on performance.

In the future, other indices should be considered to gain a more comprehensive view. This is a quantitative study based on financial statements data that neglects other important economic and social factors.

Public policies could use this study for better interventions to support the sector. In addition, internal management can compare their company's performance with the industry average to identify possible improvements.

The research analyses an economic field that employs a large number of people, especially when considering the construction and real estate services covered by this analysis.

The study contributes to the literature by providing a quantitative analysis of industry dynamics, with comparative information that can be deduced from financial statements over the years.

The “metaverse” is the new buzzword. With the phenomenal growth of the metaverse comes accounting, taxation and jurisdictional challenges, which business and governments have yet to fully address. This paper aims to highlight and rationalise the lack of regulatory framework and multiplicity of jurisdictions on metaverse transactions. This paper addresses some of the complications with respect to accounting and taxation in virtual environments.

This study relies on secondary data and emerging literature to understand the multiplicity of jurisdiction and complexity of the accounting transactions. The concept of the metaverse is rapidly evolving, and this study uses extant literature to provide the foundation for understanding the key challenges relating to accounting and taxation.

Concepts of revenue recognition and deferment are challenged by the transactions in the metaverse. There are novel applications, underpinned by emerging technologies and blockchain supporting new crypto assets, such as non-fungible tokens and other decentralised finance (DeFi) tools; however, the caveats of anonymity and jurisdictional issues persist. The paper suggests that the industry must adapt to the unique reporting requirements of these assets and develop new standards for evaluating their value for financial reporting purposes. The paper emphasises the need for a case-based approach in the absence of standardised regulations for the accounting industry in the metaverse.

This paper adds original contributions to extant literature of the metaverse and advances ongoing debates into the accounting and taxation issues pertinent to the metaverse and DeFi.

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.

The purpose of this briefing is to highlight the critical importance of negotiation skills in the everyday lives of real estate professionals. It delves into how negotiators must improve their negotiations skills given the negotiation-intensive nature of real estate. It also helps to handle common pitfalls and challenges in negotiations, particularly in the increasingly volatile, uncertain, complex and ambiguous (VUCA) reality of the real estate industry. The briefing offers strategic insights for preparation and negotiation aimed at improving any real estate negotiator’s average performance.

The expert opinion piece combines a literature review on negotiation strategies with practical insights. It addresses the observed under appreciation of negotiation theory and skill, reflecting on real-world real estate negotiations. The goal is to enhance the use and recognition of negotiation theory in the real estate industry. The approach merges theoretical analysis with practical application, offering actionable recommendations to improve negotiation outcomes.

The negotiation-intensive real estate industry and the transformative impact of VUCA challenges on real estate professionals’ ability to adapt and continuously negotiate successful deals clashes with many real estate’s professional or fixed mind-set over negotiation historically being an art or a talent and mostly being stuck with win-lose strategies. Instead, negotiation is a science that can be learned and deliberately improved to counter stress-induced or fear-based responses that lead negotiators toward suboptimal negotiation strategies, such as win-lose or naive win-win. However, these dynamics are preventable. Well-equipped and well-prepared value win-win negotiators can adopt a growth mind-set, study modern negotiation advice and frameworks to thrive in the negotiation-rich real estate industry and convert even VUCA challenges into an amazing source of value.

Real estate professionals can become more aware of which and how current obstacles and poor choices negatively contribute to their negotiation performance. It contrasts win-lose and win-win strategic frameworks to enable real estate professionals to become more sophisticated when choosing their negotiation strategies. The briefing also helps real estate professionals expand their negotiation repertoire towards improved strategic flexibility when managing the evolving real estate profession reality and challenges.

The originality and value of the briefing lie in its comprehensive approach to addressing the negotiation challenges faced by real estate professionals. It offers a holistic view of real estate negotiation, advocating for a paradigm shift from traditional win-lose tactics to a collaborative, value win-win approach. The briefing integrates modern negotiation theory and emphasises ethical practices, providing practical strategies and best practices for professionals to improve their skills and adapt to industry changes. By empowering real estate professionals with knowledge and tools to navigate negotiations effectively, the briefing contributes to the overall success and professionalism of the industry.