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The Dictionary of National Biography (or DNB as it is commonly called and as it will be referred to in this paper) is a classic. Depending on whether a library owns an original edition published by Smith, Elder and Company or a reprint edition published by Oxford University Press, sixty‐three brown volumes or twenty‐two blue volumes and supplements loom bulkily from the shelves. It would be an odd, ill‐trained reference librarian, historian, or scholar of English literature who has never heard of the DNB, let alone used and perused it. But mere bulk does not explain the lasting fame and staying power of this reference work, whose first volume appeared in January 1885 over a century ago.

Every hospital has a cafe; most of us will have used one to wait for, or recover from, some ordeal. Those who know the Oasis say that this is a hospital cafe with a difference: it doesn't feel like it is in a hospital. They speak of the welcoming, peaceful atmosphere, the high quality of its fare and ambience, and the way it generates enterprise and opportunity for people with past or present mental health problems. In this article we want to share how the cafe came about, what people say about it and what we think the future holds.

The purpose of this paper is to examine whether Real Estate Investment Trusts (REITs) returns on the different days of the week differ from each other.

It uses European Public Real Estate Association (EPRA)/National Association of Real Estate Investment Trusts (NAREIT) UK index daily closing values (GBP) and its two sub-indices FTSE EPRA/NAREIT UK REITs and non-REITs as dependent variables. It employs Kruskal-Wallis tests and dummy-variable regression to test the hypothesis.

The overall findings provide evidence that return anomalies exist in the UK REITs.

Thought significant, the absolute returns differences are modest for investors to gain superior returns in UK REITs. However, by recognising the day-of-the-week effect, investors can buy/sell UK REITs more effectively.

This research brings updated evidence of the contested calendar anomalies issues in REITs.

The purpose of this paper is to empirically examine the issue of convergence in the monthly returns, rental growth and yields for ten market segments in the UK direct real estate market, using monthly data over the period from January 1987 to December 2014.

The methodology used to determine convergence is principal component analysis as it provides an assessment of the extent to which the variance of the market segments can be represented by a single common factor, explaining their long-run behaviour, and the degree of independence between the market segments.

The results suggest that there is strong evidence of convergence over the entire sample period in relation to monthly returns and yields but less evidence of convergence in rental growth, which confirms the findings in previous studies in international markets.

The evidence also suggests that convergence has increased over the sample period and that convergence is period specific and was particularly strong during and after the period of the Global Financial Crisis, which implies that the UK direct real estate market is largely integrated and as a consequence the extent of diversification potential in the market is still severely limited.

The convergence in returns has crucial implications for investors as it leaves investors exposed to the same structural shocks and so magnifies the importance of volatility spillover effects, limits their ability to create well-diversified portfolios and make it more difficult for fund managers to outperform the market.

This is the first paper to examine the convergence in the UK direct real estate market.

This study aims to examine the impact of “space-as-a-service” (SAAS) provision on office rents in the UK and quantify premia to office rents.

Using hedonic modelling techniques the authors are able to quantify the impact of a number of SAAS features on office rents in the City of London using CoStar data. The authors control for the quality of the buildings by focussing on five-star buildings, rated by CoStar, as these buildings are more likely to incorporate SAAS features.

Using data on 317 transactions in 37 City of London Office buildings over the period 1 November 2004–15 July 2020, the authors find that tenant exclusive mobile applications (MAPPS) and a public terrace or rooftop command a rent premium of around £13 and £6.5 per sq. ft per annum, respectively. However, other SAAS features such as conferencing facilities, on-site fitness centre and touch down space have no significant impact on office rents. The impact of exclusive MAPPS varies with size of net lettable area.

The SAAS real estate model is an emerging trend in the office market. As it grows in importance more research questions will have to be investigated. The present study raises awareness of the need to specify SAAS features and form a rating system that will facilitate future research on the subject.

The conclusion from the present investigation is that only two SAAS features have a positive impact on office (tenant exclusive mobile apps and a public terrace or rooftop), which suggest that these two features may form the basis of any future SAAS rating system. These two SAAS components should carry more weight in valuations and pricing.

To the best of the authors’ knowledge, this is the first study that attempts to quantify the impact of SAAS features on office rents.

The purpose of this paper is to examine whether geographical distance or economic distance offers greater diversification benefits in the UK office market.

The real estate investment data for this study come from the Investment Property Databank analysis “UK Quarterly Key Centres Q2 2015”. The author measures the geographical distance between the City of London and 27 local authorities (LAs) by road distance. The author used the market size and employment structure of the LAs relative to the City of London to calculate economic distance.

The results show that LAs that are classified on their economic distance show significant negative office rental growth correlations with the City of London. In contrast, geographical distance shows no relationship. Results are consistent for the overall sample period and for various periods.

Spatial diversity is a fundamental tenet of real estate portfolio management and the results here show that it is better to diversify by across office markets in the UK using the economic attributes of LAs rather than the physical distance between locations.

This is one of only two papers to explicitly examine whether economic distance or geographical distance leads to significantly lower rental growth coefficients between locations in office markets and the first in the UK.

The purpose of this paper is to examine the interrelationships among the extracted constructs of customer satisfaction (CS), knowledge about customer relationship management (CRM) program, customer attitude and their effect on relationship share (RS). The study also attempts to find if moderating role of gender exists among these constructs.

A conceptual framework is developed based on previous studies. In order to address a lack of comprehensive evaluation of B2C relationships in Indian hotels, this study extracted the dimensions of CRM in hotels and used them in the structural model. The conceptual model is tested using structural equation modeling approach through maximum likelihood estimation technique. A sample of 305 domestic travelers was used to test the hypothesized relationships among the constructs.

The findings indicate that CS and willingness to engage (CWER) in the relationship are major predictors of RS. Besides, CS indirectly affects RS through customer’s attitude toward the hotel. The results of the study also show that customer willingness to engage in the relationship is dependent on attitude of customer toward firm which is further dependent on knowledge about CRM program. One more notable finding of the study states that gender plays a moderating role between CS and customer willingness to engage in the relationship.

In addition to contributing toward academic knowledge, the findings of the present study will help the practitioners to better design CRM program and reap its maximum benefits.

The current study has considered new dimensions of CRM like customer’s knowledge of CRM and this is the first study to capture responses of Indian travelers in relation with various constructs. This is the first study to test the moderating effect of gender between various constructs.

This paper aims to examine the structural relationships among the variables of social cause involvement, attitudes toward the endorser, attitudes toward advertising, attitudes toward the brand and social cause behavioral intentions. Additionally, by using the persuasion knowledge model (PKM) as the guiding framework, the moderating effects of ad perception on the proposed relationship were investigated.

By using Amazon Mechanical Turk, a total of 291 usable surveys were retained for analysis. Following the participants' exposure to the Nike commercial, they completed a survey containing questions about advertising perception and their consequent responses to the advertisement. Structural equation modeling was used to test the conceptual model. Multigroup analysis was also performed to discover any moderating effects of consumers' advertising perception in endorsement effectiveness.

This study highlights the extensive impact of social cause involvement in the domain of celebrity endorsements, while attitudes toward the endorser are not a significant antecedent of celebrity endorsement effectiveness in the sport contexts. Additionally, this study demonstrates and confirms the presence of the moderating effects of advertisement perception on the proposed relationship. This supports the general premise of the PKM that consumers' attitudes and thoughts are influenced based on consumers' judgment of persuasion attempts.

The current study extends the line of research on the role of advertising perception in the domain of celebrity endorsement. In particular, this study found that the PKM is a theoretically sound model that can be used to predict sports fans' attitudinal and behavioral responses.

This paper aims to re‐examine the portfolio risk/return performance of “conventional” sector/regional classifications with one based on socio‐economic criteria.

Applying the mean absolute deviation (MAD) portfolio optimisation method, this study revisits sector versus regional diversification within the UK using the Investment Property Databank (IPD) annual data over the period 1981‐2007. A modern functional classification, with data from the 2001 Census, is used to retest the proposition that such groupings may offer superior diversification benefits.

In line with previous research, sectors dominate regions, however defined, and should be the first level of analysis when developing an optimised portfolio diversification strategy. When the performance of functional groups is compared with “conventional” administrative regions results show that such groupings can provide greater risk reduction. The underlying characteristics of these functional groups may be more insightful and acceptable to real estate portfolio managers in considering assets that a portfolio might contain.

Real estate markets are thought to be dynamic, in that their form and content can change dramatically even over quite short periods. This paper shows it is actually rather unlikely that matching changes in the structures of real estate investment portfolios will be observed, even over extended time periods, except at their margins. Although efficient frontiers move across the MAD risk/return space, the relative positions of the sectors and regions hardly change at all in pure analytical terms. In particular, the use of functional groupings, which reflect the greatly changed economic landscape in Britain over some 20 years, do not presage any great change in the pattern of institutional real estate investment, nor even a very obvious improvement in the portfolio performance.

In estimating the inputs into the modern portfolio theory (MPT) portfolio optimisation problem, it is usual to use equal weighted historic data. Equal weighting of the data, however, does not take account of the current state of the market. Consequently this approach is unlikely to perform well in any subsequent period as the data is still reflecting market conditions that are no longer valid. The need for some return weighting scheme that gives greater weight to the most recent data would seem desirable. Therefore, this study uses returns data which are weighted to give greater weight to the most recent observations to see if such a weighting scheme can offer improved ex ante performance over that based on unweighted data.