Search results

Using data spanning 145 years for Sweden, the authors investigate the benefits of holding multi-family properties for investors who aim to hedge wage growth.

The authors assess the risk-adjusted excess return that results from adding multi-family properties to a mixed-asset portfolio that aims to track wage growth. The authors also analyse the macroeconomic determinants of asset returns. Finally, the authors test whether a causal relationship exists between the growth rate of real wages and that of real net operating income.

The benefits from holding multi-family properties are the greatest for low-risk allocation approaches. For more risky strategies, the role of real estate is more muted, and it varies greatly over time. Holding real estate was most beneficial during the first two decades of the 21st century. Multi-family properties are found to be the only asset class to be positively related to wage growth. The authors show that the net operating income acts as the transmission channel between wages and property returns.

The paper assesses whether the growing interest of pension funds for multi-family properties is warranted in the context of a portfolio that aims to track wage growth.

Using long term data makes it possible to use a rolling windows approach and hence to consider multiple outcomes for an allocation strategy over a typical investment horizon. This permits to assess the dispersion of performance across several periods rather than just one as is commonly done in the literature. The results show that the conclusions that would be drawn from looking at the past two or three decades of data differ substantially from those for earlier time periods.

The study utilized the consumption value theory to explore the motivational factors that define and differentiate the users and nonusers of fashion rental services

A focus group was conducted to generate an initial list of measurement items. These items were refined through a pretest and then used in a self-administered online questionnaire to collect data from a total of 300 users and 300 nonusers. The collected data were analyzed using factor analysis to identify the factors that define users and nonusers. A MANOVA was then conducted to explore the differences in the identified factors between users and nonusers.

Using factor analysis, nine factors were extracted across the five consumption values (functional, social, emotional, conditional and epistemic). MANOVA revealed a significant difference between users and nonusers across all factors. Further analyses suggested that the most differentiating factors are two emotional value factors and one social value factor.

Despite existing studies of fashion rental services, it is debatable whether the phenomenon is fully understood since previous studies primarily focus on consumers who engage in fashion renting services – there is a lack of focus on nonusers. This study provides unique contributions by exploring the phenomenon from both the user's and the nonuser's perspective.

The purpose of this paper is to examine a recent comprehensive corporate real estate (CRE) alignment model which was derived from previous CRE alignment models. This study proposes several modifications and additions based on business and decision-making literature to increase the framework’s multidisciplinary strength and extend its implementation phase.

Literature from various fields is reviewed and “lessons” incorporated into the framework. The business literature review began with corporate strategy theories cited in CRE alignment theory and extended to critiques of those and more recent theories. Likewise, decision-making and implementation both began with material cited in CRE literature and “rippled” out to encompass pertinent material.

The model used provides a robust framework, and this study has identified several areas that would appear to improve that model from a theoretical and practical perspective. Areas of further research are identified that appear to offer opportunities to further develop the framework.

Historically, there has been a tendency for new CRE alignment models to be created rather than existing ones being developed further. Here, a framework derived from a meta-study of CRE alignment models is reviewed, and improvements are proposed to further develop CRE alignment theory and its application in practice through the addition of viewpoints from the business field and more focus on the implementation phase of the model.

The aim of this Real Estate Insight is to comment upon commercial real estate research. Much of the current research on commercial real estate sits in academic silos, constrained by disciplinary boundaries and rejecting insights from other areas. This can lead to an impoverished understanding of the processes and practices that drive market behaviour.

This Real Estate Insight, through the lens of history, draws on insights from a century earlier and, in particular, from the work of Frank Ramsey; the paper argues that market behaviour is shaped by the role of key actors and persistent beliefs which need to be accounted for in our models of market practice.

The paper argues that current research paradigms need to accommodate agency explicitly into existing models and that real estate research will benefit immensely if researcher were more open in seeking ideas from outside the real estate field and to be more open to external ideas and concepts.

The paper suggests that property research needs to be more embracing of other academic disciplines to develop a full understanding of the numerous and various drivers within commercial real estate markets.

This is a review of how beliefs impact upon commercial real estate markets. As with many things, history can help researchers today get a broader and more appropriate perspective on market drivers and how they affect decision-making.

The provision of facilities management (FM) services, facilitated by a well-suited sourcing strategy, significantly influences the optimization of dwelling unit performance, augmentation of occupants’ living experiences and the establishment of a secure and comfortable environment. Consequently, this study aims to examine the sourcing approach used for delivering FM services in social housing within Nigeria’s semi-arid climate and to assess the effectiveness of the chosen sourcing approach in the provision of FM services.

Data collection involved one-on-one interviews conducted with five principal/senior staff members of the Borno State Housing Corporation in Maiduguri, Northern Nigeria. For data analysis, the NVivo R1 software package and Stata 13.0 were used. Thematic analysis was applied to the data, and the findings were presented through narrations and direct quotes from participants. Logistic regression analysis was subsequently used to assess the effectiveness of the adopted in-house approach in providing FM services in the context of social housing.

Administrators of social housing in the semi-arid climate of Nigeria exclusively adopted an in-house sourcing approach for providing FM services. Nevertheless, the in-house approach was conclusively determined to be ineffective in delivering FM services within the specific context of social housing in the semi-arid climate of Nigeria.

This investigation centred on examining the sourcing strategy used by social housing administrators for delivering FM services in social housing within a semi-arid climate of Nigeria. Additionally, the study delved into evaluating the efficacy of the chosen sourcing approach in the actual provision of FM services.

This paper examines rent determinants and their relationship with commercial office property rents.

The method adopted in this study differs from that of previous studies on this topic. Firstly, based on the survey of the viewpoints of experts, Relative Importance Index (RII) analysis was used to identify rent determinants and to rank and ensure their relevance and validity in the Sri Lankan context. Secondly, sampling of data related to 115 office properties collected from property tenants and landlords located within the central built-up area of Colombo City was conducted using a multi-methods approach to carry out an objective hedonic analysis of office rents.

This research utilizes RII and hedonic models to provide insights into determinants and relationships. Both analyses confirm that the three top drivers of commercial office rent are distance from the major town center, availability of parking space and the condition of the property. In addition to these three factors, hedonic models reveal that the age of the property and the availability of a conference hall also play a relevant role in explaining office rents. Given the disparities in the findings of the two methods, further examination was able to confirm that factors such as distance from the major town center, parking availability, age of the property, presence of a conference hall, building condition, floor size, business type and type of building are likely to influence commercial office rent. These findings reflect elements such as the quality, newness and better facilities of different office properties.

This systematic study and analysis of office rent for the guidance of real estate investors can support sound investment decisions, potentially leading to more financially sound property development, reduced public debt levels and improved public-private financing. Further, the research findings offer valuable insights to real estate investors, developers and planners regarding location decisions for office development quality enhancements in future office developments.

This research provides fresh insights into the local scale office market, an area where limited evidence currently exists. Further, the methodology adopted provides evidence that hedonic analysis, supported by a multi-method approach, can mitigate the subjective judgments made by professionals.

This study aims to investigate the implications of natural gas rents and institutions as co-drivers of economic growth, focusing on the Gas Exporting Countries Forum (GECF) with panel data between 2001 and 2021.

This research paper uses a specialised two stage estimator, the panel instrumental variable technique (panel IV), which takes care of the potential endogeneity issues in the model.

The findings show that natural gas rent significantly impacts the economic growth of the GECF. On average, natural gas rent increases the sample’s growth rate by about 2.634% percentage points in the short run. The result indicates that the qualities of institutions (political and economic) have a significant positive long-term effect on the economies of the GECF. In addition, the study’s energy price volatility positively correlates with the countries’ growth.

There might be a need to investigate the effects of natural gas rents and institutions as co-growth drivers in each country within the GECF. The likelihood exists that the impact of natural gas rents and institutions on economic growth at the country’s level may differ from the outcome of such an experiment on the group level. Because of space and time limitations, this study could not carry out the specific country’s investigation of natural gas rents and institutions as a co-growth driver. That limitation may constitute further study to advance this study to a new height.

With good institutions, natural gas rent is likely to be an alternative growth driver for some economies that rely on fossil fuels like oil as a growth driver. By extension, the GECF has the potential to rival Organisation of Petroleum Exporting Countries (OPEC) in the global energy market, particularly in achieving Sustainable Development Goal number seven. In essence, evidence in this study suggests that natural gas rent has long-term positive effects on the growth of the GECF, conditioned on good institutions. Moreover, the drive of global energy consumption towards sustainable energy usage is an economic blessing for the GECF. By extension, the demand for natural gas would continue to rise, creating opportunities to improve natural gas rents. By implication, the GECF would continue to benefit from the pursuit of sustainability as the world shifts towards energy consumption with less CO₂.

Firstly, this study models the qualities of institutions for the GECF. Secondly, to the best of the author’s knowledge, this study is the first attempt to examine natural gas rents and the qualities of institutions as co-determinants of economic growth among the GECF (a potential cartel).

The supply chain (SC) of the fast-moving consumer goods (FMCG) sector in India witnessed a significant change soon after introducing the Goods and Services Tax (GST). With the initiation of this tax, companies started moving from individual state-wise warehouses to consolidation warehouses model to save costs. This paper proposes a model that frames a mathematical formulation to optimize the distribution network in the downstream SC by considering the complexities of multi-product lines, multi-transport modes and consolidated warehouses.

The model is designed as mixed-integer linear programming (MILP), and an algorithm is developed that works on the feedback loop mechanism. It optimizes the transportation and warehouses rental costs simultaneously with impact analysis.

Total cost is primarily influenced by the critical factor transportation price rather than the warehouse rent. The choice of warehouses at prime locations was a trade-off between a lower distribution cost and higher rent tariffs.

The study enables FMCG firms to plan their downstream SC efficiently and to be in line with the recent trend of consolidation of warehouses. The study will help SC managers solve complexities such as multi-product categories, truck selection and consolidation warehouse selection problems and find the optimum value for each.

The issues addressed in the proposed work are transporting products with different sizes and weights, selecting consolidated warehouses, selecting suitable vehicles for transportation and optimizing distance in the distribution network by considering consolidated warehouses.

The purpose of this study is to examine the impact of the shift towards a circular economy and marketing strategies on the collaborative purchasing behaviour of consumers in India. The study uses the theory of planned behaviour (TPB) and the marketing mix to understand the factors affecting a consumer’s intention to participate in collaborative consumption (CC).

A Web-based survey was conducted, and 349 valid responses were analysed using AMOS (Analysis of Moment Structures) structural equation modelling. The study emphasised the impact of price, promotion and perceived behaviour control on CC and provided direction and advice for companies that rent and swap apparel.

According to the study, promotion and perceived behaviour control are the two key characteristics that significantly impact a consumer’s willingness to participate in CC in India. The study also found that perceived behaviour control plays a significant direct role in behavioural usage. These findings emphasise the impact of price, promotion and perceived behaviour control on CC and offer direction and advice for companies that rent and swap apparel.

This article can be used to evaluate the business in different countries and can be developed further. It does, however, have some restrictions. Because most respondents are from northern and central India, in addition, some respondents are from the southwestern and southern regions, especially in the Mumbai and Chennai locales. Hence, the geographical sample was not diverse in terms of demographics. Furthermore, the gender identity of the respondents might essentially affect how the authors interpret customer buying behaviour, but the study missed this. Researchers could enhance this by using various sampling techniques and ensuring that other demographic characteristics are considered in the future. Furthermore, the survey could not distinguish between online and in-person transactions.

The study provides practical advice for companies that rent and swap apparel, emphasising the impact of price, promotion and perceived behaviour control on consumer willingness to participate in CC. The findings suggest that companies can improve consumer participation by focusing on promotion and perceived behaviour control. In addition, the significance of perceived behaviour control on behavioural usage highlights the importance of empowering consumers to control their decisions to participate in CC.

To the best of the authors’ knowledge, this study is one of the first to examine the factors influencing consumer willingness to participate in CC in the context of the shift towards a circular economy in India. By examining the impact of the TPB and the marketing mix on consumer intention, the study provides valuable insights for companies that rent and swap apparel. The findings highlight the importance of promotion and perceived behaviour control in shaping consumer behaviour and provide practical direction for companies to promote and market their products effectively. The study adds to the existing knowledge on the circular economy and the role of CC in reducing waste and promoting sustainability.

This research aims to examine how consumer minimalism (CM), self-conscious feelings (such as consumer guilt (CG) and consumer pride (CP)) and the inclination to use rental services interact. It also looks at how attitudes toward pro-environmental advertisements affect these relationships as a moderator, recognizing the importance of pro-environmental advertising in influencing consumer behavior.

This study employed a quantitative methodology to investigate the aforementioned associations. Survey questionnaires are used to collect data, which is then analyzed using AMOS 25 and Process Macro to generate meaningful insights.

The findings indicate that the willingness to use rental services is directly associated with CM, while self-conscious emotions (SCEs) play the role of a mediator in this relationship.

It is essential to recognize the limitations of this study. There may be other variables at play, but the research focuses on SCEs (CG and CP) and their role as mediators. The findings must be interpreted based on the selected research methodology and sample size. Future research could investigate additional variables and enlarge the sample size to increase generalizability.

Targeted marketing can leverage CM, SCEs and willingness to use rental services. Recognizing the moderating effect of attitude toward pro-environmental advertisements can help create more effective campaigns promoting environmental behavior.

Underpinned by SCEs, the current study is one of the initial studies to explain how CM encourages responsible environmental behavior through access-based consumption models.