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1 – 10 of 133Sita 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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Paul Andriot, Fabrice Larceneux and Arnaud Simon
In this article, the aim is to document the divergences/convergences between the market perceptions of quality and the financial estimations for office buildings relative to the…
Abstract
Purpose
In this article, the aim is to document the divergences/convergences between the market perceptions of quality and the financial estimations for office buildings relative to the notion of centrality and the distance to the central business district (CBD).
Design/methodology/approach
Based on a hierarchical approach that decomposes and estimates the perceived quality of buildings from the stakeholders’ perspectives, we study the geographies of perceived quality measures in the Greater Paris Metropolis and compare them to the financial geography.
Findings
The perceived location quality decreases with distance from the CBD whereas judgments on the built structure and the workplace do not, exhibiting a ring-shaped pattern. The gradient of the components of the perceived quality are heterogeneous, having positive, negative or null values. Appraisers tend only to consider the quality of location in their estimations.
Originality/value
This article raises the issue of fair spatial judgments by appraisers and the financial market. Monocentricity is not the rule in the market perceptions of quality. It suggests that financial estimates are strongly biased, with mental representation of centrality as a judgmental heuristic.
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Thomas Vogl, Marko Orel and Rianne Appel-Meulenbroek
This study aims to enrich our understanding of the characteristics of non-urban coworking spaces (CSs) that focus on corporate users, as well as the benefits that companies expect…
Abstract
Purpose
This study aims to enrich our understanding of the characteristics of non-urban coworking spaces (CSs) that focus on corporate users, as well as the benefits that companies expect to gain from incorporating those CSs into their corporate real estate (CRE) portfolios.
Design/methodology/approach
This study leverages a series of in-depth interviews with owners and managers of CSs in non-urban locales that focus on serving corporate clients.
Findings
The research reveals various CS characteristics and forms within non-urban areas, focusing on corporate clients. It suggests that implementing a CS in corporate premises is perceived to enhance CRE use-value strategies with a focus on the employee's well-being, innovation and the attraction of talents. Moreover, exchange-value strategies with a focus on portfolio flexibility may benefit from the implementation of a CS. However, strategies related to life-cycle cost optimization or gains are not perceived to be supported. Social events for the surrounding neighborhood and the choice of location emerge as critical success factors for non-urban CSs. Besides infrastructure and connectivity, non-urban corporate-centric CSs built their location decisions rather on a personal connection to the location and place of residence of potential users than on lower rental prices.
Originality/value
This research pioneers in providing a comprehensive understanding of non-urban CSs, particularly in the context of their perceived implications for corporate real estate management. The nuanced perspectives it offers are invaluable for stakeholders looking to leverage CSs as part of their corporate strategies.
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This paper aims to explore the relationship between market pricing and design quality within the development industry. Currently, there is a lack of research that examines real…
Abstract
Purpose
This paper aims to explore the relationship between market pricing and design quality within the development industry. Currently, there is a lack of research that examines real estate at the property level. Development quality is widely believed to have diminished over the past decades, while many investors seem uninterested in the design process. The study aims to address these issues through a pricing model that integrates design attributes. It is hoped that empirical findings will invite broader stakeholder interest in the design process.
Design/methodology/approach
The research establishes a framework for assessing spatial compliance across residential developments within London. Compliance is assessed across ten boroughs, with technical space guidelines used as a proxy for design quality. Transaction prices and spatial assessments are aligned within a hedonic pricing model. Empirical findings are used to establish whether undermining spatial standards presents a significant development risk.
Findings
Findings suggest a relationship between sale time and unit size, with “compliant” units typically transacting earlier than “non-compliant” units. Almost half of the 1,600 apartments surveyed appear to undermine technical guidelines.
Research limitations/implications
It is suggested that an array of design attributes be explored that extend beyond unit size. Additionally, future studies may consider the long-term implications of design quality via secondary transaction prices.
Practical implications
Practical implications include the development of a more scientific approach to design valuation. This may enhance the position of product design management within the development industry and architectural services.
Social implications
Social implications may include improvement in residential design.
Originality/value
An innovative approach combines a thorough understanding of both design and economic principles.
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Xiaojie Xu and Yun Zhang
The Chinese housing market has witnessed rapid growth during the past decade and the significance of housing price forecasting has undoubtedly elevated, becoming an important…
Abstract
Purpose
The Chinese housing market has witnessed rapid growth during the past decade and the significance of housing price forecasting has undoubtedly elevated, becoming an important issue to investors and policymakers. This study aims to examine neural networks (NNs) for office property price index forecasting from 10 major Chinese cities for July 2005–April 2021.
Design/methodology/approach
The authors aim at building simple and accurate NNs to contribute to pure technical forecasts of the Chinese office property market. To facilitate the analysis, the authors explore different model settings over algorithms, delays, hidden neurons and data-spitting ratios.
Findings
The authors reach a simple NN with three delays and three hidden neurons, which leads to stable performance of about 1.45% average relative root mean square error across the 10 cities for the training, validation and testing phases.
Originality/value
The results could be used on a standalone basis or combined with fundamental forecasts to form perspectives of office property price trends and conduct policy analysis.
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Yaxin Ma, Fauziah Md Taib and Nusirat Ojuolape Gold
This study aims to merge the world’s proven ways of housing finance, including musharakah mutanaqisah, housing cooperatives and real estate crowdfunding, to present an alternative…
Abstract
Purpose
This study aims to merge the world’s proven ways of housing finance, including musharakah mutanaqisah, housing cooperatives and real estate crowdfunding, to present an alternative housing unaffordability solution based on the Islamic finance principle. It is intended to reduce the burden of funding for both sides (consumers and developers) and create win–win chances for all stakeholders, including intermediaries. By moving away from debt financing and merging the features of crowdfunding and cooperative, it is hopeful that the burden of home ownership will no longer be the case.
Design/methodology/approach
This paper presents the opinions of potential Chinese homebuyers (minority Muslims and most non-Muslims) and a few industry experts toward the proposed model via a mixed research method.
Findings
According to the findings, the majority of respondents agreed with the proposed paradigm. Just concerned that China’s lack of community culture and trust could pose a major threat to implementation. However, this paper argues that Chinese local governments may perform pilot testing in places where Islamic culture is prevalent. Their unique community culture and fundamental understanding of Shariah law may affect the viability of the proposed model.
Originality/value
The proposed model would increase the applicability of Islamic finance as a way of protecting the social order of communities in the spirit of upholding justice and fairness. A new type of housing loan based on musharakah mutanaqisah may squeeze out the real estate bubble and provide stakeholders with a multidimensional investment channel. In particular, the study identifies the impact of Chinese Islamic financing on government and cultural needs. It presents possible challenges for implementing the proposed model in reality and helps bridge the gap between theory and practice.
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The role of local authorities is crucial in addressing the essential needs of communities, and they possess the right to impose property taxes on all properties within their…
Abstract
Purpose
The role of local authorities is crucial in addressing the essential needs of communities, and they possess the right to impose property taxes on all properties within their territory. Property taxes are levied on all properties, contributing to approximately 60% of the local authority’s finances. However, their role in this policy is not frequently understood, primarily in executing property tax reassessment. Hence, this paper aims to reveal property tax reassessment implementation and identify its key challenges.
Design/methodology/approach
The latest tone of the list record was extracted from the local government division, Ministry of Housing and Local Government Malaysia, to answer the research objective. The data were received on November 2021 by email. Furthermore, through the literature review, the most significant challenges in property tax reassessment were identified, compared and presented.
Findings
The results highlight that property tax reassessment implementation in West Malaysia is at the level of concern where only two councils have the latest tone of the list. However, larger councils have a higher performance compared to smaller councils. The findings also reveal various challenges in property tax reassessment, such as insufficient human resources, inadequate property systems and software and lack of financial capacity. Others include a shortage of competent assessors, lower public education, political interference and socioeconomic uncertainty.
Practical implications
This study offers practical implications to policy and decision-makers in the West Malaysian local authorities. Despite inferior performance by West Malaysian local authorities, there is a need for conducting property tax reassessment activity to ensure the quality and uniformity of the assessment. This study suggests that local government stakeholders and managers should devote more attention to formulating long-term plans and promoting the property tax reassessment practice. The property tax reform could solve the current situation of substandard reassessment activity.
Originality/value
This study explains, compares and interprets the actual statistical data through the figures and summarises the challenges of property tax reassessment activity among local authorities.
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Ivana Stevic, Vítor Rodrigues, Zélia Breda, Medéia Veríssimo, Ana Margarida Ferreira da Silva and Carlos Manuel Martins da Costa
This paper aims to analyse residents’ perceptions of tourism growth in Porto prior to the COVID-19 pandemic, aiming to determine the most appropriate strategies to mitigate…
Abstract
Purpose
This paper aims to analyse residents’ perceptions of tourism growth in Porto prior to the COVID-19 pandemic, aiming to determine the most appropriate strategies to mitigate negative tourism impacts. Studies on resident perceptions of tourism impacts are still scarce, particularly the ones addressing the topic in the context of Portuguese urban tourism areas.
Design/methodology/approach
Data was collected through an online survey, focusing on three categories of impacts: (i) economic, (ii) sociocultural (iii) and spatial-environmental, and the respective mitigation strategies, analysed from the perspective of Porto’s residents. Descriptive and bivariate statistics – T-test and Eta correlation – were used to analyse the collected data.
Findings
Respondents who live in the city centre experience specific tourism impacts more negatively, when compared to those living outside the inner-city area. Furthermore, no strong correlation is found between the said impacts and the respective mitigation strategies. However, creating awareness among tourists about acceptable behaviour in shared spaces is the strategy that stands out, as it has a medium correlation with all three impact categories. Most impact-strategy associations are weak, meaning that the defined strategies are not the most case-appropriate, which is something that policymakers should address.
Originality/value
To the best of the author’s/authors’ knowledge, this is the first study to adopt this approach in tackling the negative impacts of rapid tourism growth in Porto.
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Umar Saba Dangana and Namnso Bassey Udoekanem
The rising concern for the accuracy of residential valuations in Nigeria has created the need for key stakeholders in the residential property markets in the study areas to know…
Abstract
Purpose
The rising concern for the accuracy of residential valuations in Nigeria has created the need for key stakeholders in the residential property markets in the study areas to know the level of accuracy of valuations in order to make rational residential property transactions, amongst other purposes.
Design/methodology/approach
A blend of descriptive and causal designs was adopted for the study. Data were collected via structured questionnaire administered to 179 estate surveying and valuation (ESV) firms in the study areas using census sampling technique. Analytical techniques such as median percentage error (PE), mean and relative importance index (RII) analysis were employed in the analysis of data collected for the study.
Findings
The study found that valuation accuracy is greater in the residential property market in Abuja than in Minna, with inappropriate valuation methodology as the most significant cause of valuation inaccuracy.
Practical implications
The practical implication of this study is that a reliable databank should be established for the property market to provide credible transaction data for valuers to conduct accurate valuations in these cities. Strict enforcement of national and international valuation standards by the regulatory authorities as well as retraining of valuers on appropriate application of valuation approaches and methods are the recommended corrective measures.
Originality/value
No study has comparatively examined the accuracy of valuations in two extremely different residential property markets in the country using actual valuation and transaction prices.
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Benedikt Gloria, Sebastian Leutner and Sven Bienert
This paper investigates the relationship between the sustainable finance disclosure regulation (SFDR) and the performance of unlisted real estate funds.
Abstract
Purpose
This paper investigates the relationship between the sustainable finance disclosure regulation (SFDR) and the performance of unlisted real estate funds.
Design/methodology/approach
While existing literature has primarily focused on the impact of voluntary sustainability disclosure, such as certifications or reporting standards, this study addresses a significant research gap by constructing and analyzing the financial J-Curve of 40 funds under the SFDR. The authors employ a panel regression analysis to examine the effects of different SFDR categories on fund performance.
Findings
The findings reveal that funds categorized under Article 8 of the SFDR do not exhibit significantly poorer performance compared to funds categorized under Article 6 during the initial phase after launch. On average, Article 8 funds even demonstrate positive returns earlier than their peers. However, the panel regression analysis suggests that Article 8 funds slightly underperform when compared to Article 6 funds over time.
Practical implications
While investors may not anticipate lower initial returns when opting for higher SFDR categories, they should nevertheless be aware of the limitations inherent in the existing SFDR labeling system within the unlisted real estate sector.
Originality/value
To the best of our knowledge, this study represents the first quantitative examination of unlisted real estate fund performance under the SFDR. By providing unique insights into the J-Curves of funds, our research contributes to the existing body of knowledge on the impact of sustainability regulations in the financial sector.
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