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Article

Berna Keskin, Richard Dunning and Craig Watkins

This paper aims to explore the impact of a recent earthquake activity on house prices and their spatial distribution in the Istanbul housing market.

Abstract

Purpose

This paper aims to explore the impact of a recent earthquake activity on house prices and their spatial distribution in the Istanbul housing market.

Design/methodology/approach

The paper uses a multi-level approach within an event study framework to model changes in the pattern of house prices in Istanbul. The model allows the isolation of the effects of earthquake risk and explores the differential impact in different submarkets in two study periods – one before (2007) and one after (2012) recent earthquake activity in the Van region, which although in Eastern Turkey served to alter the perceptions of risk through the wider geographic region.

Findings

The analysis shows that there are variations in the size of price discounts in submarkets resulting from the differential influence of a recent earthquake activity on perceived risk of damage. The model results show that the spatial impacts of these changes are not transmitted evenly across the study area. Rather it is clear that submarkets at the cheaper end of the market have proportionately larger negative impacts on real estate values.

Research limitations/implications

The robustness of the models would be enhanced by the addition of further spatial levels and larger data sets.

Practical implications

The methods introduced in this study can be used by real estate agents, valuers and insurance companies to help them more accurately assess the likely impacts of changes in the perceived risk of earthquake activity (or other environmental events such as flooding) on the formation of house prices in different market segments.

Social implications

The application of these methods is intended to inform a fairer approach to setting insurance premiums and a better basis for determining policy interventions and public investment designed to mitigate potential earthquake risk.

Originality/value

The paper represents an attempt to develop a novel extension of the standard use of hedonic models in event studies to investigate the impact of natural disasters on real estate values. The value of the approach is that it is able to better capture the granularity of the spatial effects of environmental events than the standard approach.

Details

Journal of European Real Estate Research, vol. 10 no. 1
Type: Research Article
ISSN: 1753-9269

Keywords

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Abstract

Details

Delivering Victory
Type: Book
ISBN: 978-1-78754-603-5

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Article

Richard J. Dunning and Andrew Grayson

The purpose of this paper is to renew a research agenda considering the impact that information providers’ processes are having on the housing market; in particular to…

Abstract

Purpose

The purpose of this paper is to renew a research agenda considering the impact that information providers’ processes are having on the housing market; in particular to develop a research agenda around the role of the Internet in shaping households’ perceptions of the spatial nature of housing markets.

Design/methodology/approach

This paper reviews the existing literature. It uses preliminary extensive survey findings about the role of the Internet in housing search to hypothesise ways in which households may be affected by this transition.

Findings

Not applicable – other than evidence for the growth in the importance of the Internet in shaping households’ housing search.

Practical implications

First, the academy needs to readdress the theory surrounding information acquisition and use insights from economics, sociology and psychology to understand these processes. Second, local authorities and academics should analyse the impact of Internet use on housing market boundaries (and the profound subsequent impact on policy traction). Third, estate agents should reconsider the role of the Internet in shaping housing markets and provide a critical response to the large property search engines.

Originality/value

This paper reviews the literature and explores the necessity of a renewed interest in research on the role of information sources in framing and constraining housing search behaviour.

Details

International Journal of Housing Markets and Analysis, vol. 7 no. 3
Type: Research Article
ISSN: 1753-8270

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Article

Yoshitaka Okada

Nations are currently facing two big movements: globalization of the market and need for increasing competitiveness. Liberalization and deregulation in international…

Abstract

Nations are currently facing two big movements: globalization of the market and need for increasing competitiveness. Liberalization and deregulation in international trade, finance and investment have drastically reduced global transaction costs and advanced the integration of global markets. But they have simultaneously restricted a range of domestic economic policy options. Despite so, national competitiveness has to be continuously cultivated, so that a nation can fully make use of comparative advantages in the global market. Then, strongly embedded in socio‐economic conditions, national competitiveness requires highly efficient and effective systems of production that match both domestic socio‐economic and global market conditions. Globalization of the market and developing national competitiveness are basically contradictory: globalization compels the development of mechanisms to generate allocative‐efficiency, while national competitiveness requires the development of systems that strengthen national capability and optimize X‐efficiency embedded in socio‐economic conditions. Coping with the two contradictory trends requires the open and flexible adaptation of existing systems to global market conditions, resulting in path dependent globalization. Recent financial deregulation in Japan is a good example, that shows a painful process of path dependent globalization, maintaining national competitiveness while openly and flexibly transferring socio‐economic conditions to suit to new global conditions.

Details

Humanomics, vol. 14 no. 4
Type: Research Article
ISSN: 0828-8666

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Abstract

Details

Journal of European Real Estate Research, vol. 10 no. 1
Type: Research Article
ISSN: 1753-9269

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Article

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination…

Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Details

Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

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Book part

Jean J. Boddewyn

Most years, several AIB members are elected as AIB Fellows on account of their excellent international business scholarship, and/or past service as AIB President or…

Abstract

Most years, several AIB members are elected as AIB Fellows on account of their excellent international business scholarship, and/or past service as AIB President or Executive Secretary. The Fellows are in charge of electing Eminent Scholars as well as the International Executive and International Educator (formerly, Dean) of the Year, who often provide the focus for Plenary Sessions at AIB Conferences. Their history since 1975 covers over half of the span of the AIB and reflects many issues that dominated that period in terms of research themes, progresses and problems, the internationalization of business education and the role of international business in society and around the globe. Like other organizations, the Fellows Group had their ups and downs, successes and failures – and some fun too!

Details

International Business Scholarship: AIB Fellows on the First 50 Years and Beyond
Type: Book
ISBN: 978-0-7623-1470-6

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Article

Thomas Hutzschenreuter

Internationalization is of high relevance and has been discussed intensively. However, different internationalization paths have been proposed by theoretical models and…

Abstract

Internationalization is of high relevance and has been discussed intensively. However, different internationalization paths have been proposed by theoretical models and have been observed in reality. In this study, we examine the internationalization path of 52 German firms over a period of ten years using comprehensive and rich data on all new ventures established by these companies within this period. We find four distinct patterns of internationalization and propose a stage model of internationalization based on these findings. Our results show different challenges for managers depending on the stage of internationalization and render interesting starting points for further research.

Details

Multinational Business Review, vol. 17 no. 4
Type: Research Article
ISSN: 1525-383X

Keywords

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Book part

Jean Boddewyn

This chapter complements the one that appeared as “History of the AIB Fellows: 1975–2008” in Volume 14 of this series (International Business Scholarship: AIB Fellows on…

Abstract

This chapter complements the one that appeared as “History of the AIB Fellows: 1975–2008” in Volume 14 of this series (International Business Scholarship: AIB Fellows on the First 50 Years and Beyond, Jean J. Boddewyn, Editor). It traces what happened under the deanship of Alan Rugman (2011–2014) who took many initiatives reported here while his death in July 2014 generated trenchant, funny, and loving comments from more than half of the AIB Fellows. The lives and contributions of many other major international business scholars who passed away from 2008 to 2014 are also evoked here: Endel Kolde, Lee Nehrt, Howard Perlmutter, Stefan Robock, John Ryans, Vern Terpstra, and Daniel Van Den Bulcke.

Details

Perspectives on Headquarters-subsidiary Relationships in the Contemporary MNC
Type: Book
ISBN: 978-1-78635-370-2

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Book part

Jean J. Boddewyn

First, AIB conference themes have reflected the issues thought to be important during its 50 years of operations, and the Fellows have regularly staffed Plenary Sessions

Abstract

First, AIB conference themes have reflected the issues thought to be important during its 50 years of operations, and the Fellows have regularly staffed Plenary Sessions devoted to these yearly themes (e.g., Eden & Lenway, 2001 on globalization).

Details

International Business Scholarship: AIB Fellows on the First 50 Years and Beyond
Type: Book
ISBN: 978-0-7623-1470-6

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