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1 – 10 of over 1000Temidayo Oluwasola Osunsanmi, Timothy O. Olawumi, Andrew Smith, Suha Jaradat, Clinton Aigbavboa, John Aliu, Ayodeji Oke, Oluwaseyi Ajayi and Opeyemi Oyeyipo
The study aims to develop a model that supports the application of data science techniques for real estate professionals in the fourth industrial revolution (4IR) era. The present…
Abstract
Purpose
The study aims to develop a model that supports the application of data science techniques for real estate professionals in the fourth industrial revolution (4IR) era. The present 4IR era gave birth to big data sets and is beyond real estate professionals' analysis techniques. This has led to a situation where most real estate professionals rely on their intuition while neglecting a rigorous analysis for real estate investment appraisals. The heavy reliance on their intuition has been responsible for the under-performance of real estate investment, especially in Africa.
Design/methodology/approach
This study utilised a survey questionnaire to randomly source data from real estate professionals. The questionnaire was analysed using a combination of Statistical package for social science (SPSS) V24 and Analysis of a Moment Structures (AMOS) graphics V27 software. Exploratory factor analysis was employed to break down the variables (drivers) into meaningful dimensions helpful in developing the conceptual framework. The framework was validated using covariance-based structural equation modelling. The model was validated using fit indices like discriminant validity, standardised root mean square (SRMR), comparative fit index (CFI), Normed Fit Index (NFI), etc.
Findings
The model revealed that an inclusive educational system, decentralised real estate market and data management system are the major drivers for applying data science techniques to real estate professionals. Also, real estate professionals' application of the drivers will guarantee an effective data analysis of real estate investments.
Originality/value
Numerous studies have clamoured for adopting data science techniques for real estate professionals. There is a lack of studies on the drivers that will guarantee the successful adoption of data science techniques. A modern form of data analysis for real estate professionals was also proposed in the study.
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Rotimi Boluwatife Abidoye, Chibuikem Michael Adilieme, Albert Agbeko Ahiadu, Abood Khaled Alamoudi and Mayowa Idakolo Adegoriola
With the increased demand for the application of technology in property activities, there is a growing need for property professionals adept in using digital technology. Hence, it…
Abstract
Purpose
With the increased demand for the application of technology in property activities, there is a growing need for property professionals adept in using digital technology. Hence, it is important to assess the competence of academia in equipping property professionals with digital technology skills. This study, therefore, assesses property academics in Australian universities to identify their level of knowledge and use of digital technology applicable to the property industry.
Design/methodology/approach
Online questionnaire surveys were administered to 22 out of 110 property academics contacted through the Australia Property Institute (API) database to achieve this aim. The collected data were analysed using mean score ranking and ANOVA.
Findings
The study found that apart from databases and analytics platforms such as Corelogic RP data, price finder and industry-based software such as the Microsoft Office suite and ARGUS software, the academics were not knowledgeable in most identified and sampled proptech tools. Similarly, most proptech tools were not used or taught to the students. It was also found that early career academics (below five years in academia) were the most knowledgeable group about the proptech tools.
Research limitations/implications
Relying on the API database to contact property academics potentially excludes the position of property academics who may not be affiliated or have contacts with API, hence, the findings of this study should be generalised with caution.
Practical implications
The study bears huge implications for the property education sector and industry in Australia; a low knowledge and use of nascent tools such as artificial intelligence, machine learning, blockchain, drones, fintech, which have received intense interest, reveals some level of skill gap of students who pass through that system and may need to be upskilled by employers to meet the current day demand.
Originality/value
In response to the clamour for technology-inclined property professionals, this paper presents itself as the first to assess the knowledge levels and application of digital technology by property academics.
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Erdener Kaynak, Ali Kara and Azamat Maksüdünov
The housing/real estate sector is one of the most important sectors in any country. However, existing marketing literature on the home buying behavior and the decision-making…
Abstract
Purpose
The housing/real estate sector is one of the most important sectors in any country. However, existing marketing literature on the home buying behavior and the decision-making process is still in the early stage of development. The purpose of this study is to examine the home buying behavior from the consumers’ perspective in a high-context culture, namely, Kyrgyzstan and its managerial and/or public policy implications to other countries which are at a similar level of socio-economic development as Kyrgyzstan.
Design/methodology/approach
Using a questionnaire, data for the study (n = 300) is collected from households in Bishkek, Kyrgyzstan. Personal interviews were used to collect data from the four administrative regions of Bishkek.
Findings
Results of this study show that the physical, environmental and financial dimensions of the homes influenced consumers’ home buying intentions. A few statistically significant differences in terms of preferences for the proximity of the property to schools and shopping districts, having public sewer and water connections, and safety characteristics of the neighborhood were found between the first-time homebuyers and the repeat homebuyers.
Research limitations/implications
The most important limitation of the study is the use of convenience sampling. Although the sample size is reasonably large, the selection of the responses was done based on using convenience and connections. Representativeness of the results may be limited.
Practical implications
Along with the physical, environmental and financial dimensions of the homes, home buying is a high-involvement decision; it is not as much of an emotional purchase but rather a main residence and a good long-term value for Kyrgyz households. Both marketing and social stimuli did not have any statistically significant effect on purchase intentions. Therefore, housing and real estate developers should focus on understanding how their offering meets individual customers’ tangible and intangible expectations and assist them in their highly involved decision-making process.
Originality/value
To the best of the authors’ knowledge, this study is the first to conduct an empirical study to analyze the home buying decisions of Kyrgyz households. This study contributes to marketing literature by filling the existing gaps in understanding various facets of the high-context consumers’ home buying decision-making.
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Tereza Jandásková, Tomas Hrdlicka, Martin Cupal, Petr Kleparnik, Milada Komosná and Marek Kervitcer
This study aims to provide a framework for assessing the technical condition of a house to determine its market value, including the identification of other price-setting factors…
Abstract
Purpose
This study aims to provide a framework for assessing the technical condition of a house to determine its market value, including the identification of other price-setting factors and their statistical significance. Time on market (TOM) in relation to the technical condition of a house is also addressed.
Design/methodology/approach
The primary database contains 631 houses, and the initial asking price and selling price are examined. All the houses are located in the Brno–venkov district in the Czech Republic. Regression analysis was used to test the influence of price-setting factors. The standard ordinary least squares estimator and the maximum likelihood estimator were used in the frame of generalized linear models.
Findings
Using envelope components of houses separately, such as the façade condition, windows, roof, condition of interior and year of construction, brings better results than using a single factor for the technical condition. TOM was found to be 67 days lower for houses intended for demolition – as compared to new houses – and 18 days lower for houses to refurbishment.
Originality/value
To the best of the authors’ knowledge, this paper is original in the substitution of specific price-setting factors for factors relating to the technical condition of houses as well as in proposing the framework for professionals in the Czech Republic.
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This study aims to explore the opinions of Built Environment Professionals (BEP) on the usage of fourth-generation digital technologies in the construction industry.
Abstract
Purpose
This study aims to explore the opinions of Built Environment Professionals (BEP) on the usage of fourth-generation digital technologies in the construction industry.
Design/methodology/approach
This study adopts a qualitative research approach and conducts semi-structured interviews with Black, Asian and Minority Ethnic (BAME) professionals to explore the adoption and utilisation of fourth-generation digital technologies in the construction industry. The semi-structured interviews allowed the participants to elaborate on their experiences, and thematic analysis was employed to identify and analyse significant themes related to the topic.
Findings
Accounts from BAME construction professionals reveal that the increased popularity of fourth-generation digital technologies, also known as Industry 4.0 technologies, does not necessarily result in increased usage. This is because many of these new technologies have not been embraced and are unpopular in certain circles. A more significant revelation is the impact of BAME community settings on determining the career pathways of most individuals, which often do not support the construction or digital technology pathways within the construction industry.
Research limitations/implications
Research targeting ethnic minorities may not necessarily yield a large response due to the sensitivity of the issues raised. However, conducting a nationwide research with a larger sample size drawn from various locations in the UK could achieve more robust findings and uncover additional issues. Meanwhile, the results of this research can serve as a framework for more extensive investigations.
Practical implications
The research offers valuable recommendations to industry and academia regarding the need to address the specific challenges faced by the BAME community in terms of digital technology adoption. These issues are often overlooked in most discussions about digital technology.
Originality/value
The study provides critical recommendations that are relevant to Further and Higher Education (HE) institutions, industries, construction organisations, government bodies, etc. Recommendations include a call for collaboration between educational institutions, industry partners and local communities to facilitate awareness and orientation programmes within the community.
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Terence Y.M. Lam, Taylah O. Hasell and Malvern L.D.B. Tipping
Referring to “behavioural finance” and “normative model” theories, this study explores the relative significance of behavioural heuristic biases in the investment decisions of…
Abstract
Purpose
Referring to “behavioural finance” and “normative model” theories, this study explores the relative significance of behavioural heuristic biases in the investment decisions of real estate investment trusts (REITs) when compared with the conventional normative decision factors, with an ultimate aim to identify the significant behavioural factors that should be avoided to ensure rational asset acquisitions and market efficiency.
Design/methodology/approach
A triangulation approach was adopted. Qualitative multiple case studies were conducted, with four cases selected from Australian and New Zealand REITs across the industry, to identify what normative and behavioural finance factors are involved in investment decisions. This formed the basis for the subsequent expert review survey to explore how significant the behavioural factors were manifested in the judgement when compared with the normative factors.
Findings
Three out of four theoretical behavioural factors manifested themselves in the investment decisions: investor sentiment, anchoring factors and overconfidence. The overall impact of these three behavioural factors was that they were as significant as normative factors in investment decisions. The heuristic availability of information was found to have no significant effect on experienced REIT fund managers.
Research limitations/implications
The findings were based on four multiple cases and an expert review survey of six frontline fund managers, which form a baseline upon which further research can be conducted to widen the scope of research to cover all REITs in Australasia so that the results can become more robust to benefit the entire market in the region.
Practical implications
As behavioural factors are significant in the decision-making process, REIT fund managers should raise awareness to avoid the significant behavioural factors identified, in particular investor sentiment, which was found to be the most significant one.
Originality/value
This study confirms the relative significance of behavioural factors in property investment decisions within the context of Australasian REITs and alerts fund managers to the ways they should follow to ensure rational investments and market efficiency. It also extends the scale of existing studies to cover not only Australia but also New Zealand for the benefit of the entire Australasian market.
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Trade centers are operationally run by a property manager as a delegate of the property owner. The dimensions of service quality (SERVQUAL), which include tangibles, assurance…
Abstract
Purpose
Trade centers are operationally run by a property manager as a delegate of the property owner. The dimensions of service quality (SERVQUAL), which include tangibles, assurance, empathy, reliability and responsiveness, are vital to be implemented as the duties of property managers when providing service to tenants to maintain tenant satisfaction and property reputation. This study aims to understand the effects of the SERVQUAL dimensions, the role of property management and the quality of rental value on tenant satisfaction and property reputation.
Design/methodology/approach
The sample was gathered using the purposive sampling technique with the criteria of being a tenant and kiosk owner in trade center properties in Surabaya. Data were gathered using questionnaires, from which 100 respondents were acquired. It was then analyzed using the partial least square structural equation model (SEM) in the SmartPLS 3.0 program to test the hypothesis.
Findings
The results of this study prove that the SERVQUAL dimensions – assurance, empathy and responsiveness – significantly influence tenant satisfaction with the mediating variable of the role of property management. Moreover, the SERVQUAL dimensions – empathy, reliability and responsiveness – significantly influence property reputation with the mediating variable of the role of property management.
Practical implications
Property managers are expected to proactively map out different service measures related to the dimension of satisfaction by conducting service training programs for their employees. In fact, in the post-pandemic period, property managers require new marketing strategies, such as leaseback, to effectively carry out renovations of the trade center’s public facilities and restructure the tenant mix.
Originality/value
Trade centers as trading areas experience management limitations because of the prohibition of mass gatherings during the COVID-19 pandemic, resulting in a limited number of onsite trading. Tenants who have entered into a long-term contract experience loss and rely on the aid of property management to survive. The role and quality of service of property management influence tenants’ satisfaction post-COVID-19 pandemic.
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Marina Apaydin, Martin Johannes Løkse Sand, Rebecca A Hoogendoorn and Maha Eshak
The expected learning outcomes are to understand key frameworks and tools for global leaders through the application of widely used theoretical frameworks on a written business…
Abstract
Learning outcomes
The expected learning outcomes are to understand key frameworks and tools for global leaders through the application of widely used theoretical frameworks on a written business case, understand the role of the leader in a team, apply theories of change to situations to anticipate courses of events and evaluate and apply relevant theory to assess a leader’s character and personality.
Case overview/synopsis
Hassan Allam Holding (HAH) was a family-owned Egyptian engineering, construction and infrastructure company managed by co-Chief Executive Officers and brothers Amr and Hassan Allam. HAH experienced significant growth and success, but eventually, it reached a point where its family governance structure could no longer sustain further growth. Amr and Hassan realized this and started planning to transition toward a corporate governance structure. In 2016, they managed to get the International Finance Corporation on board as an equity partner, and this helped propel the governance transition, but they still needed to find a way to convince the family to step back. This case study can help students understand the issues that may occur during a change within an established organization of any size. The case study considers the implications the change may have on the leader, his personality and his character and how it shapes the leader in question as an outcome. This case study has been designed to be used in one or two sessions and can be offered in management or leadership courses at an undergraduate or graduate level.
Complexity academic level
This case study is intended for graduate and undergraduate students studying a leadership or management course. It can help students comprehend the challenges of a family-owned business and how change is associated with such businesses. The case also considers how leaders are shaped by effectively managing conflict. This case can be considered as Level 1 on a 1–3 scale, as the full description of the situation is given in the case and the task of the students is to analyze the leader and his decisions using various academic concepts and theories (Erskin et al., 2003).
Supplementary materials
Teaching notes are available for educators only.
Subject code
CSS 3: Entrepreneurship
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José Ignacio Sánchez-Vergara, Marko Orel, Valeria Ferreira and Andrej Rus
The objective of this study is to explore the concept of rural coworking in the scientific literature and examine how it generates community narratives based on the value of space…
Abstract
Purpose
The objective of this study is to explore the concept of rural coworking in the scientific literature and examine how it generates community narratives based on the value of space and business practices. This study aims to contribute to the understanding of rural coworking as a driver of participation and relationships among diverse stakeholders.
Design/methodology/approach
To identify and analyse trends and categories in rural coworking studies, understand the concept of rural coworking and how community narratives have been focused, the authors carried out a systematic literature review following the preferred reporting items for systematic reviews and meta-analyses (PRISMA) tool. The review was performed using Scopus, obtaining 22 papers.
Findings
The findings reveal that rural coworking is on definition, but it emphasises the role of community as a main actor in its consolidation. On the other hand, rural coworking is seen as an opportunity to create impactful new business strategies through space regeneration and revitalisation. Management perspectives prevail in this research field, highlighting the role of public administrations, entrepreneurs and policymakers, and their capacities to build a business environment to enhance coworking activity.
Originality/value
The paper establishes conceptual categories and research trends in the rural coworking literature, and how its actors have a strategic importance in defining their own practices and narratives. The interrelationship between coworking activity and local business development is continually seen as an opportunity for growth, so this paper will have value for rural coworking planners and consultants in non-urban areas.
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This study focuses on the use of guanxi by African returnees from China in Africa. It explains how returnees understood and leveraged guanxi to collaborate with Chinese partners.
Abstract
Purpose
This study focuses on the use of guanxi by African returnees from China in Africa. It explains how returnees understood and leveraged guanxi to collaborate with Chinese partners.
Design/methodology/approach
This study uses semi-structured interviews to document how guanxi is increasingly extending beyond Chinese borders. It focuses on Ethiopia, Kenya and Tanzania and analyzes the returnees' mobilization of guanxi in Sino–African business contexts.
Findings
African returnees play an increasingly important role in guanxi internationalization in Africa. Returnees' understanding of guanxi is shaped by their African traditions and their Chinese experiences, creating their new cultural capital and a dynamic Sino–African business mindset.
Originality/value
This paper reveals an emerging shift in the business mindset among African returnees once initiated in guanxi. In addition, guanxi is increasingly practiced by African organizations.
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