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This paper aims to examine the long‐run and dynamic behaviors of real wage‐employment‐productivity relationship, using Malaysian manufacturing data, and to determine which related labor theories are supported.

Time‐series econometric techniques, which include stationarity and cointegration tests, vector error correction model, impulse response function and variance decomposition, are applied to analyze the relationships of real wages, employment and productivity.

A long run relationship exists between real wages, employment and real productivity, with real wages being the main variable that adjusts to maintain cointegration. The theory that real wages inversely affect employment is not supported, while the performance‐based pay scheme theory, and not the efficiency wage theory, is validated.

Although the data used to measure wages and employment account for most of the production in the various manufacturing sectors, they do not include all the manufacturing industries. The analysis is also limited in time span since data for earlier periods are not available.

The findings can provide assistance to policy makers in their implementation and evaluation of labor policies.

The real wage‐employment‐productivity relationship is examined in the framework of the Malaysian manufacturing sector, and the study includes both the long‐term and short‐run behaviors of the variables.

With growing interdependence between financial markets, the goal of this paper is to examine the dynamic interdependence between corporate equity and public real estate markets for the USA and a select group of seven European developed economies under a cross-country framework in crisis and boom market conditions. Dynamic interdependence is related to four measures of market linkages of “correlation, spillover, connectedness and causality”.

This study adopts a four-step investigation. The authors first estimate “time-varying variance–covariance spillovers and implied correlations” modeled with the bivariate BEKK-MGARCH methods. Second, the methods of Diebold and Yilmaz (2012, 2014) measure the conditional volatility spillover-connectedness effects across the corporate equity and public real estate markets based on a decomposition of the forecast error variance. Third, the authors implement nonlinear bivariate and multivariate causality tests to understand the lead-lag dynamics of the two asset markets' returns, volatilities and net directional volatility connectedness across different sample periods. Finally, the authors conclude the study by providing a portfolio hedging analysis.

The authors find that corporate equity and public real estate are moderately interdependent to the extent that their diversification benefits increases in the longer term. Moreover, the authors find increased corporate equity-public real estate causal dependence of the market groups of the European and international portfolios during the GFC and INTERCRISIS periods. The nonlinear causality test findings indicate that the joint information of asset markets can be a useful source of prediction for future innovation of market risks. Additionally, policy makers may also be able to employ conditional volatility and volatility connectedness as two other measures to manage market stability in the cross-asset market dependence during highly volatile periods.

One major take away from this academic research is since international portfolio investors are not only concerned the long-term price relationship but also the correlation structure and volatility spillover-connectedness, the conditional BEKK modeling, generalized risk connectedness analysis and nonlinear causal dependence explorations from this multi-country study can shed fresh light on the nature of market interdependence and magnitude of volatility connectedness effects in a multi-portfolio framework.

The hedging performance analysis for portfolio diversification and risk management indicates that industrial stocks (“pure” equities) are valuable assets that can improve the hedging performance of a well-diversified corporate equity-public real estate portfolio during crisis periods. For policymakers, the findings provide important information about the nature of causal links and predictability during the crisis and asset-market boom periods. They can then equip with this information to manage and coordinate market stability in cross corporate equity-real estate relationships effectively.

Although traditional research has in general reported at least a moderate degree of relationship between the two asset markets, investors' knowledge of stock-public real estate market linkage is somewhat inadequate and confine mostly to broad stocks (i.e. stocks that are exposed to public real estate influence) in a single-country context. In this paper, the authors examine the interdependence dynamics in a multi-country (multi-portfolio) context. A clear understanding their changing market relationships in a multi-country context is of crucial importance for portfolio investors, financial institutions and policy makers. Moreover, since the authors use an orthogonal stock market index, the authors allow global investors to understand the potential diversification benefits from stock markets that are beyond the public real estate market under different market conditions.

The purpose of this paper is to examine the relationship among employment, real wage, and output growth in Canada.

Using quarterly data from 1994q2 to 2012q3, this paper employs a vector autoregressive framework while allowing for the derivation of output from its historical maximum over the sample period to affect future output, employment, and real wage growth dynamics.

There are three main findings: output growth is significant in predicting employment growth and vice versa; real wage growth neither Granger causes employment growth nor output growth, but employment growth Granger causes real wage growth; and non-linear dynamics, captured by the current depth regression (CDR) effect term, through the sign as well as the magnitude of output changes, are important in characterizing the evolution of the relationship among output, employment, and real wage growth.

The findings of this research have significant implications for policy makers. Output and employment growth are important in forecasting each other in Canada. In contrast to the mainstream theory, real growth is insignificant in explaining the future dynamics of employment in Canada. Policies need to be formulated to encourage the growth of employment to ensure sustain output growth.

This study examines empirically the real output, real wage, and employment link in Canada. This study uses the most recently revised GDP data arising from the 2012 Historical Revision of the Canadian System of National Accounts. The econometric methodology involves the standard vector autoregression (VAR) model to which the authors introduce non-linear dynamics through a term that controls for the deviation of output from its preceding historical maximum: the CDR effect.

Companies may seek tremendous advantage through the consolidation of corporate real estate requirements with leading real estate brokers or advisors under a comprehensive service arrangement. Such relationships require crafting the business structure and contract provisions to promote the objectives of both parties. The successful outsourcing relationship must begin with the realisation that each customer and service provider deserves a unique set of terms, founded upon mutual understanding and the realities of the diverse markets in which the services will be performed. Where the parties take the time and care to share common expectations, the scope and quality of service can be articulated in a positive and definitive manner to the personnel responsible for performance. Incentives can be aligned to provide a sufficient and competitive motivation for client and advisor alike. Through this process, the agreement can serve as a platform to the mutually beneficial relationship for which the parties had hoped.

Recent studies have indicated that consumers who knowingly purchase counterfeits could be in love with the brands whose counterfeits they own. Arguably, this love may not be the same as the love felt by individuals who purchase the original brand. Research in this field has not studied how these two love types differ in its genesis and consequences. Therefore, the paper aims to discuss this issue and intends to fill this gap.

This study performed a multi-group analysis using (PLS-SEM) between two groups of customers (real-buyers and fake-buyers) to elucidate the factors that separate fake-love from real-love. This study adopted a combination of convenience sampling and field visits to identify 500 individuals who were classified as either real-buyers or fake-buyers.

The relationship between social-self and brand love is significantly stronger for fake-buyers as compared to real-buyers. However, the relationship between inner-self and brand love is significantly stronger in the case of real-buyers as compared to fake-buyers. Real-buyers tend to be more brand resilient than fake-buyers as their love emanates primarily from the inner-self. Additionally, fake-buyers indulge in +WOM more than real-buyers as their brand love emanates from the social-self.

This is the first study to explore the concept of brand love among consumers who purchase counterfeits in spite of being able to afford the original brands. This is also the first study that is focused on identifying the antecedents and outcomes that separate real-love from fake-love.

To provide a roadmap for corporate real estate (CRE) directors to effect change in the way they deliver services through enhanced relationships with their “customers,” the users of CRE.

Previous studies and discussions of customer relationship management are combined with the authors' extensive experience to make a case for formalized change management processes and analyze specific methods for enhancing the effectiveness of these processes.

Relationship management integrates real estate processes into larger corporate processes, converting real estate opportunities into competitive advantages. The transition from a reactive to a proactive mode of service is aided by adoption of new mind sets and new skills sets, including tools and processes for communicating within the organization, enhanced financial/analytical acumen, and metrics for determining successful outcomes.

Every CRE department faces unique challenges and opportunities which cannot be fully addressed in a paper designed for broad applicability.

CRE directors will recognize the challenges and opportunities they face and will learn about specific actions and initiatives they can implement to enhance their effectiveness though internal customer relationship management.

Applicability of change and customer relationship management processes to the CRE environment is a new area of focus and is mostly uncharted territory. This roadmap delves deeper than previous papers into specific methods for aligning real estate processes with the “voice of the customer” to further corporate objectives.

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.

Tests for the existence of a long‐run relationship between real wages and employment, utilising annual data from 1961‐1996 for a panel of 12 European Union countries.

Applies modern time series techniques organised around panel unit root and panel cointegration tests to draw sharper conclusions from the short time series that are typically available.

Indicates that a long‐run relationship between real wages and employment cannot be established. This being so, little success is expected in bringing down unemployment, the most pressing problem in the European Union, by reducing real wages.

Investigates the long‐run relationship between real wages and employment by conducting more reliable tests in the context of 12 European countries, namely Belgium, Denmark, Germany, Spain, France, Ireland, Italy, The Netherlands, Portugal, the UK, Norway and Finland over the period 1961‐1996.

Input‐output modeling can accurately forecast the benefits associated with corporate real estate projects. This paper aims to address the economic and employment impact analysis practices used in input‐output modeling and identifies resources for corporate real estate executives when working with community groups and public officials. By understanding this topic, corporate real estate executives can more effectively demonstrate the value of corporate activities to a community. An impact analysis case study is presented that includes an example of economic impact report content. Input‐output modeling is an effective analytical tool for corporate real estate site selection, facilities expansion, and other community relations projects. This study addresses the major issues in corporate/community relationships and focuses on the corporate need to demonstrate project contributions to community economic vitality. As political, special interest, and public views about business expansion and development harden, corporate real estate executives and specialists need to utilize effective tools to balance the debate.

This study presents a review of input‐output economic modeling techniques, application of the model, key terms, a case study of a $2.1 billion expansion project, and a sample outline of an impact analysis report. This approach provides a good conceptual framework, terms, and the application of an economic and employment impact approach to measuring the total contribution of corporate real estate activities in a community or region.

Demonstrates methods measuring economic and employment multipliers resulting from direct, indirect, and induced corporate project impacts. The findings will assist professionals responsible for corporate/community relations by enhancing their understanding of economic impacts.

This paper presents an overview of an effective modeling technique that can be used to accurately estimate the community economic and employment contributions resulting from a new corporate real estate project. Emerging corporate/community relations issues are discussed and resources are identified.

The purpose of this paper is to re-examine the relationship between a country’s aggregate stock market and general economic development for 14 emerging economies for the period from 1995 to 2014.

The methodological approach of the paper is multifold. First, the authors use cointegration analysis to determine the simple dynamics among the variables. Second, the authors utilize vector autoregression analysis to study the dynamics among the variables for the 14 countries. Third, the authors employ panel analysis to determine common variations among the variables and across countries.

When examining the linkage between the stock market and economic development, proxied by gross domestic product growth or with gross fixed capital formation growth, the authors did not find a meaningful relationship between them. However, when the authors included additional control variables strong, dynamic interactions between the two magnitudes surfaced. Specifically, it was found that the stock market is positively and robustly correlated with contemporaneous and future real economic development and, thus, it directly contributed to a country’s economic development either through the production of goods and services or the accumulation of real capital. Thus, it can be inferred that the stock market alone is not capable of boosting economic development in these countries unless being part of a comprehensive financial system (which includes banks) as well as investment in real capital.

The policy implications are clear. Government authorities must recognize that the stock market alone is not a driver of economic development and that a sound, efficient financial system (which includes banks) must be present in order to contribute and foster economic development.

The study is original in the sense that it examines various financial and economic variables to determine the degree of (or dynamic interactions among) the stock market and the real economy for each and all emerging markets in the sample.