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1 – 10 of 414Adedayo Ayodeji Odebode, Shittu Oluwakayode Aro and Alirat Olayinka Agboola
The paper aims to examine the influence of urban violence on residential property rental value in Kaduna metropolis. This is motivated by the spate of insurgency and the attendant…
Abstract
Purpose
The paper aims to examine the influence of urban violence on residential property rental value in Kaduna metropolis. This is motivated by the spate of insurgency and the attendant destructions of land and properties in the past few years in the study area.
Design/methodology/approach
This paper adopted a survey of key sites of urban violence and also a total enumeration of all the 67-estate surveying and valuation firms in the study area to elicit from them vital information on trends on rental from 2011 to 2019. The data obtained were analyzed using both descriptive and inferential methods of statistical analysis.
Findings
The result of this study revealed that among other sources of urban violence, violence fueled by ethnic affiliations/convictions is the only significant factor that influenced rental value of residential property in the study area. The regression analysis shows that ethnic violence accounted for 21.6% of the variability observed in residential property rental value over the period of study. Furthermore, the correlation result showed that ethnic violence is negatively correlated (−0.458) and significantly related to residential property rental value.
Practical implications
This study concluded that the emergence of urban violence in Kaduna metropolis contributed to a fall in the rental value of residential property in the study area. This study thus suggested policy directions that could engender harmonious coexistence among different ethnic groups in the study area.
Originality/value
This study is expected to enhance improvement in residential property rental value in Kaduna metropolis through increase assurance to security of lives and property.
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Halim Yusuf Agava and Faoziah Afolashade Gamu
This study evaluated the effect of macroeconomic factors on residential real estate (RE) investment returns in the cities of Abuja and Lagos, Nigeria, with a view to guiding RE…
Abstract
Purpose
This study evaluated the effect of macroeconomic factors on residential real estate (RE) investment returns in the cities of Abuja and Lagos, Nigeria, with a view to guiding RE investors and researchers.
Design/methodology/approach
A survey research design was employed using a questionnaire to collect RE transaction data from 2008 to 2022 from estate surveying and valuation firms in the study areas. Rental and capital value data collected were used to construct rental and capital value indices and total returns on investment. The macroeconomic data used were retrieved from the archives of the Central Bank of Nigeria (CBN). Granger causality (GC) and multiple regression models were adopted to evaluate the effect of selected macroeconomic variables on residential RE investment returns in the study areas.
Findings
The study found a progressive upward movement in rental and capital values of residential RE investment in the study areas within the study period. Total and risk-adjusted returns on investment were equally positive within the study period. Only the inflation rate, unemployment rate and real gross domestic product (GDP) per capita were found to be the major determinants of residential RE investment returns in the study areas within the study period.
Research limitations/implications
The secrecy associated with property transaction information/data by RE practitioners in the study areas posed a challenge. Property transaction data were not adequately kept in a way for easier access and retrieval in many of the estate firms and agent offices. Consequently, there was a lack of data that spanned the study period in some of the sampled estate firms or agent offices. This data collection challenge was, however, overcome by the excess time spent retrieving the required data for this study to ensure that the findings appropriately answer the research questions.
Practical implications
Inflation and GDP per capita have been found to be significant factors that influence residential RE investment performance in the study areas. Therefore, investors should pay attention to these identified macroeconomic factors for residential RE investment in the study areas whilst making investment decisions in order to mitigate a possible loss of income or return. The government should formulate and implement economic policies that would address the current high unemployment and inflation rates in Nigeria at large.
Originality/value
This study has extended and further enriched the existing body of knowledge in the field of RE investment analysis in Nigeria. To the best of the authors' knowledge, this study is the first to adopt the Cornish Fisher value-at-risk and modified Sharpe ratio models to analyse risk and risk-adjusted returns on residential RE investment, respectively, in Nigeria. It has therefore redirected the focus of RE researchers and practitioners to a more objective approach to RE investment performance analysis in Nigeria.
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Rebecca Restle, Marcelo Cajias and Anna Knoppik
The purpose of this paper is to explore the significance impact of air quality as a contributing factor on residential property rents by applying geo-informatics to economic…
Abstract
Purpose
The purpose of this paper is to explore the significance impact of air quality as a contributing factor on residential property rents by applying geo-informatics to economic issues. Since air pollution poses a severe health threat, city residents should have a right to know about the (invisible) hazards they are exposed to.
Design/methodology/approach
Within spatial-temporal modeling of air pollutants in Berlin, Germany, three interpolation techniques are tested. The most suitable one is selected to create seasonal maps for 2018 and 2021 with pollution concentrations for particulate matter values and nitrogen dioxide for each 1,000 m2 cell within the administrative boundaries. Based on the evaluated pollution particulate matter values, which are used as additional variables for semi-parametric regressions the impact of the air quality on rents is estimated.
Findings
The findings reveal a compelling association between air quality and the economic aspect of the residential real estate market, with noteworthy implications for both tenants and property investors. The relationship between air pollution variables and rents is statistically significant. However, there is only a “willingness-to- pay” for low particulate matter values, but not for nitrogen dioxide concentrations. With good air quality, residents in Berlin are willing to pay a higher rent (3%).
Practical implications
These results suggest that a “marginal willingness-to-pay” occurs in a German city. The research underscores the multifaceted impact of air quality on the residential rental market in Berlin. The evidence supports the notion that a cleaner environment not only benefits human health and the planet but also contributes significantly to the economic bottom line of property investors.
Originality/value
The paper has a unique data engineering approach. It collects spatiotemporal data from network of state-certified measuring sites to create an index of air pollution. This spatial information is merged with residential listings. Afterward non-linear regression models are estimated.
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Mohamed Ahmed Qotb Sakr, Mohamed H. Elsharnouby and Gamal Sayed AbdelAziz
This paper aims to address three research questions (1) Who is the main stakeholder that shapes Airbnb experience, (2) Does Airbnb offers an authentic travel experience? and (3…
Abstract
Purpose
This paper aims to address three research questions (1) Who is the main stakeholder that shapes Airbnb experience, (2) Does Airbnb offers an authentic travel experience? and (3) What should be the future research trends in Airbnb?
Design/methodology/approach
This paper uses the systematic literature review (SLR) with a well-defined protocol, research strategy and methods to answer the research questions.
Findings
The review revealed that while Airbnb plays a significant role as the platform provider, the stakeholders influencing the experiences are multifaceted. Hosts, guests, local communities and even regulatory bodies all contribute to shaping the overall Airbnb Experience ecosystem. Hosts, in particular, have a crucial role in curating and delivering unique experiences, which significantly impacts the quality and authenticity of the offerings. On the question of whether Airbnb offers an authentic travel experience, the review uncovered mixed findings. For examples, some studies emphasized the potential for Airbnb to provide authentic and local experiences, allowing travelers to engage with the community and cultural aspects of a destination. However, other studies raised concerns about the commodification and standardization of experiences, leading to a potential loss of authenticity.
Originality/value
This paper is different from previous SLR where previous research systematically reviewed; motivations to use and choose Airbnb, institutionalization of Airbnb, stakeholders of Airbnb. This paper addresses authentic experience as a factor that influences activity participation.
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Tanvir Alam Shahi Md. and Sarolta Somosi
The present study aims to provide a roadmap for meeting the carbon-free, green energy production target within the stipulated period while also considering climate targets through…
Abstract
Purpose
The present study aims to provide a roadmap for meeting the carbon-free, green energy production target within the stipulated period while also considering climate targets through a sustainable auctioning scheme.
Design/methodology/approach
The research outlines the opportunity to design auctions based on qualitative research, the impact of auctions on energy costs and thus the feasibility of suggested auctioning schemes based on country-specific empirical evidence and benefits.
Findings
The conclusions show that this may result in various advantages for emerging economies relating to technology-neutral site-specific auctions if designed according to state-specific socio-economic conditions.
Originality/value
The planned addition to the state-of-the-art in the renewable energy (RE) field of this paper is that it intends to bridge the gap between theory and practice. The analysis has concepts for research, practice and/or community. Thus, it can serve as a primary source of literature reference for those willing to learn more about the aspects of cost related to RE.
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Sita Mishra, Tapas Ranjan Moharana and Ravi Chatterjee
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…
Abstract
Purpose
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.
Design/methodology/approach
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.
Findings
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.
Research limitations/implications
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.
Practical implications
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.
Originality/value
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.
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Eunsoo Baek, Eujin Park and Ga-eun (Grace) Oh
With the growing market for luxury fashion rental, we aim to examine how renting luxury fashion is related to consumers' construction of the material self, based on material…
Abstract
Purpose
With the growing market for luxury fashion rental, we aim to examine how renting luxury fashion is related to consumers' construction of the material self, based on material self-framework. We propose that consumers adopt luxury fashion rentals to construct and manage the personal and social aspects of the material self and that their belief in brand essence facilitates the mechanism.
Design/methodology/approach
A total of 296 responses of US female participants collected from Cloudresearch were analyzed to test the relationships between constructs in the proposed model.
Findings
The results, using structural equation modeling analysis, supported the expected relationships. Specifically, whereas the social material self directly increased adoption intention, the personal material self indirectly increased such intention via the belief that rented luxury items preserve brand essence.
Originality/value
Our findings advance the literature by showing how the self is constructed and managed in collaborative luxury fashion consumption, from self-identity perspective. The current research reveals the important roles of two aspects of material self that respectively contribute to consumers' adoption of luxury fashion rentals.
Research limitations/implications
This study empirically tests the material self theory in the context of luxury fashion rental and demonstrates the processes of how consumers regard a luxury fashion rental as a tool to construct their identity. This study not only validates the two-structure model of material self (social and personal), but also incorporate the role of brand essence in revealing how the two facets of material self differently facilitate luxury fashion rental adoption.
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Ana Julia Grilló-Méndez, Mercedes Marzo-Navarro and Marta Pedraja-Iglesias
To identify the risks associated by consumers with renting clothes.
Abstract
Purpose
To identify the risks associated by consumers with renting clothes.
Design/methodology/approach
A descriptive research with a quantitative approach was carried out. First, the measurement models of the variables involved in the proposed model were validated. After verifying the existence of the variables, the resulting model was finally estimated through structural equation modelling.
Findings
The results obtained establish the six dimensions that make up the problems associated by consumers with the clothing rental business model. These problems encompass various types of risks: financial, physical, performance, psychosocial, inconsistency with values and lifestyle, as well as lack of trust in the service provider. The results obtained show that only inconsistency, financial risk and physical risk have a significant effect on attitude. These performance risks, together with the consumer's attitude towards renting, have a negative effect on the intention to rent.
Originality/value
Factors that have a negative effect on attitude have been studied less than the facilitators of attitude. This is the first study in Spain.
Practical implications
The results will help managers to understand the adoption behaviours of these models.
Social implications
This study helps understand the social innovation needed to change consumers' relationship to clothing.
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Gunjan Malhotra and Navneet Fatehpuria
This paper examines the understanding of various factors that influence consumer purchase intentions of renting products as a result of growth in the sharing economy. In addition…
Abstract
Purpose
This paper examines the understanding of various factors that influence consumer purchase intentions of renting products as a result of growth in the sharing economy. In addition, the study examines the notion of consumer minimalism, the mediating role of environmental consciousness and the moderating role of consumer scepticism to explain consumer rental consumption intention.
Design/methodology/approach
The research used a survey questionnaire to collect data from Indian consumers (N = 259). Data analysis involved using structural equation modelling with AMOS v25 and PROCESS macro. Structural equation modelling was employed to test the models involving mediation, moderation and moderated mediation.
Findings
The findings link consumer minimalism and the intention to rent products. This research contributed to the existing body of knowledge by incorporating the concepts of consumer minimalism and consumer scepticism into consumers' decisions regarding renting products. Furthermore, the results demonstrated that environmental consciousness enhances consumers' inclination to rent products, shedding light on the factors influencing this preference.
Originality/value
This research extends the existing literature on consumer purchase intentions for rented products by investigating how consumer minimalism, mediated by environmental consciousness and moderated by consumer scepticism, influences these intentions. The results offer valuable insights for both theoretical understanding and practical applications, guiding marketing developers and brands that cater to minimalist consumers interested in renting products. Additionally, it suggests future research avenues in this domain.
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