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Market segmentation, the dividing of a market into distinct subsets of customers, is a conceptual approach that commercial real estate developers can use to identify unmet needs. By developing properties for which there is an unmet need instead of those that are already adequately supplied, the developer achieves a temporary monopoly. To accomplish this, the market area must be defined, an inventory of existing space must be made and the demand for particular types of space must be estimated. The office space market and the retail space market are used to illustrate the process of identifying the type and size of building that should be built as well as determining when it should be built.

Examines the way in which the 1986 Tax Reform Act affected the status of US real estate as a tax shelter. Demonstrates that because tax benefits previously were an important component of total returns from income producing real estate, its immediate effect is to reduce after‐tax returns from real estate. Argues that if market values fall and rents rise, however, after‐tax returns from income producing real estate should be sufficient to attract individual US investors. Adds that the 1986 Tax Act should attract more US pension funds and foreign investors to US investment real estate given that the buying advantage of US investors has been reduced.

The real estate development processes involves complex sets of decisions that are related to both technical and financial issues. Some of these decisions could be made simultaneously where the others would be made sequentially. Sequential decisions, especially at early stages of the process, are the most critical for the success of any project. Reliable information at early stages is hard to be found, which makes these decisions rather risky. Budget overruns is also a real risk, which usually appears at last stages of developments especially at tender phase.

Developers apply cost saving and/or value engineering / management exercises to reduce the expected cost in order to re-meet the budget again. Value management is preferred since it maintains the same planned quality, provides needed functions and reduces cost. Some of developers succeed where the others are obliged to cancel their developments after wasting a lot of time and money.

In order to mitigate some of those risks, enhance development process and optimize the product, developers need to apply a systematic approach in the form of a Heuristic Model as a pro-active tool to assist them performing better. The main objective of this research is to re-utilize the core principle of the value management, which is eliminating unnecessary functions and costs in order to develop this model. Thus, a descriptive analytical approach was applied as a methodology for doing the targeted synchronization and integration between the value management tools and techniques within the real estate development process. The heuristic model proposed a certain order of the development process and selected tools and techniques to achieve the value management philosophy. It is designed to be strategic and flexible in order to guide the developers to create their own model according to their vision and surrounded circumstances.

This study investigates a perceived student performance disparity between traditional synchronous and web-based asynchronous course delivery. Synchronous classes meet face-to-face or online with scheduled meeting times and the ability to directly monitor class attendance and participation. Asynchronous classes are 100% online, requiring no face-to-face or online live sessions. This study identifies student attributes associated with performance differences in the two delivery modes. The authors examine data from over 15,000 students who took introductory financial and managerial accounting classes at a large state university. The authors analyze student demographic and class performance data. Controlling for instructor and year effects, the authors find a statistically significant lower DFW rate (better performance) in the synchronous introductory accounting classes compared to the asynchronous ones. Using these findings, the authors revised scheduling and advising protocols to improve student success likelihood in the asynchronous sections. This study provides two insights applicable to many accounting departments. First, the results suggest that empirically exploring student performance implications may be warranted as the number of web-based asynchronous class offerings grow. Additionally, the study provides an example of working within the limitations of existing registration policies and systems to translate the result of the analysis into improved advising and scheduling approaches.

This study compares the motives of holding cash between developed (Australian) and developing (Malaysian) financial markets.

For the period 2006–2020, the t-test, fixed-effect and generalised method of moment (GMM) model have been applied to a sample of 1878 (1,165 Australian and 713 Malaysian) firms.

The empirical results reveal that firms in developed financial markets hold higher cash compared to the developing financial markets. The findings confirm that motives to hold cash differ between developed and developing financial markets. The GMM findings further show that cash holdings (CH) in Australia are higher due to higher ratios of cash flow, research and development (R&D) and return on assets (ROA), and lower due to larger dividend payments. In the Malaysian market, however, cash flows and R&D are ineffectual, ROA falls and dividend payments rise CH.

The study helps managers, practitioners and investors understand that firms' distinct economic, institutional, accounting and financial environments are important. To attain the desired outcomes, they must thus comprehend and consider these considerations while developing suitable liquidity strategies.

To the authors' best knowledge, this is the initial research demonstrating how varied cash motives and their ramifications are in developed and developing financial markets. Therefore, this study identifies the importance that CH motives varied among financial markets and that findings from a particular market cannot be generalised to other markets because of the market and financial structural variations.

A major part of knowledge management for knowledge-intensive firms such as professional service firms is the increasing focus on thought leadership. Despite being a well-known term, it is poorly defined and analysed in the academic and practitioner literature. The aim of this article is to answer three questions. First, what is thought leadership? Second, what tensions exist when seeking to create thought leadership in knowledge-based organisations? Third, what further research is needed about thought leadership? The authors call for cross-disciplinary and academic–practitioner approaches to understanding the field of thought leadership.

The authors review the academic and practitioner literature on thought leadership to provide a rich oversight of how it is defined and can be understood by separating inputs, creation processes and outcomes. The authors also draw on qualitative data from 12 in-depth interviews with senior leaders of professional service firms.

Through analysing and building on previous understandings of the concept, the authors redefine thought leadership as follows: “Knowledge from a trusted, eminent and authoritative source that is actionable and provides valuable solutions for stakeholders”. The authors find and explore nine tensions that developing thought leadership creates and propose a framework for understanding how to engage with thought leadership at the industry/macro, organisational/meso and individual/micro levels. The authors propose a research agenda based on testing propositions derived from new theories to explain thought leadership, including leadership, reducing risk, signalling quality and managing social networks, as well as examining the suggested ways to resolve different tensions.

To the best of the authors’ knowledge, they are the first to separate out thought leadership from its inputs, creation processes and outcomes. The authors show new organisational paradoxes within thought leadership and show how they can play out at different levels of analysis when implementing a thought leadership strategy. This work on thought leadership is set in a relatively under-explored context for knowledge management researchers, namely, knowledge-intensive professional service firms.

In 2005, the European Union launched a four‐year antismoking television advertising campaign across its 25 Member States. This study aims to evaluate the second and third years (2006 and 2007) of the campaign based on telephone interviews with over 24,000 consumers (smokers, non‐smokers, and ex‐smokers).

The study focuses on smokers and examines the potential for using segmentation and targeting in informing the campaign. Three important factors are used to identify clusters: attitude toward the campaign; comprehension of the campaign; and inclination to think responsibly about their smoking behaviour.

Cluster analyses identify three distinct and significant target groups (message‐involved, message‐indifferent, and message‐distanced) who respond differentially to the advertising. Furthermore, the percentage of respondents within each cluster varies across the EU Member States. Using Schwartz's cultural framework, the cultural dimension of “openness to change versus conservatism” is found to explain substantial cross‐national variation in message‐involved and messaged‐distanced respondents.

Cluster solutions are shown to be stable across the two data waves. Implications of these results are discussed.

This is the first study that seeks to better understand consumer reactions to social‐marketing advertising across different segments of the overall target group.

The purpose of this study is to investigate racial differences in the moderating role of factors linked with resilience on the relationship between economic stress and happiness for Black and White residents of the USA.

Secondary data were downloaded from the World Values Survey Wave 7 for adult respondents living in the USA. The entire sample of respondents who self-identified as belonging to the Black race (n = 209) was statistically matched (based on sex – 50% male and average age – 39 years) with a similarly sized random sample of respondents who self-identified as belonging to the White race (n = 217).

The results suggest that economic stress had the potential to trigger a resilience response. However, the protective factors in the resilience process differed by race of the respondent. The relationship between economic stress and perceptions of neighborhood safety was conditional on level of control for the White sample. The relationship between economic stress and happiness for the Black sample was conditional on the importance of faith.

The study was able to demonstrate the importance of race-based contextual differences in the roles of faith and control in the resilience process. The findings also increase the understanding of how life circumstances and individual characteristics, including race, impact happiness and how much or little resilience may play a part in the achievement of happiness.

This study draws on social stigma and prejudice to examine the perceptions and beliefs of managers and employees regarding visible tattoos and body piercings, as well as the impact they have on potential employment and human resource management in the global South, using Nigeria as the research context.

The study uses a qualitative research approach, drawing on data from 43 semi-structured interviews with employees and managers in Nigeria.

Contrary to the popular opinion that tattoos and body piercings are becoming more accepted and mainstream in society, this study finds that some Nigerian employers and employees may stigmatise and discriminate against people with visible tattoos and body piercings. The findings of this study suggest that beliefs about tattoos are predicated on ideologies as well as religious and sociocultural values, which then influence corporate values.

The extent to which the findings of this research can be generalised is constrained by the limited sample and scope of the research.

Religious and sociocultural preconceptions about people with visible tattoos and body piercings have negative implications for the recruitment and employment of such people and could prevent organisations from hiring and keeping talented employees. This implies that talented employees might experience prejudice at job interviews, preventing them from gaining employment. Furthermore, stigmatising and discriminating against people with visible tattoos and body piercings may lead to the termination of employment of talented employees, which could negatively affect organisational productivity and growth.

This study provides an insight into the employment relations regarding tattoos and body piercing in Nigeria. The study highlights the need for mild beliefs and positive perceptions about people with visible tattoos and unconventional body piercings. There should be a general tolerance of the individual preference for body art and physical appearance, and this tolerance should be incorporated in organisational policies, which are enactments of corporate culture.

The purpose of this study is to test an adaptation of the servant leadership survey to Turkey for the first time and to explore the relationship between perceptions of servant leadership and paternalistic leadership styles in the Turkish business context to contribute to the complex process of contextual dynamics of leadership.

Data were collected from 305 self‐administered surveys completed by white‐collar mid‐level managers in Istanbul, Turkey. These white collar employees conveyed their perceptions about the leadership styles of their immediate supervisors.

The results revealed that Turkish employees perceived a high correlation between paternalistic and servant leadership styles, demonstrating that leadership practices held by employees are strongly culture‐specific. In particular, all dimensions of servant leadership construct – i.e. altruism, relationship, empowerment and participation – showed a significant positive correlation with the paternalistic leadership construct. Servant leadership attributes as perceived by Turkish employees reflect a higher degree of “people orientation”.

Although this is a cross‐sectional study, its findings have implications for contemporary leadership research and practice, particularly with regard to understanding of leadership in the cultural context.

The study findings may assist human resources practitioners in multinational corporations and in Eastern and Western countries to unravel the confusion and misunderstandings created when different cultures perceive leadership in disparate ways.

This paper is among the first to establish empirically a possible link between servant leadership and paternalistic leadership perception as shown in the understanding of the Turkish employees. Turkish mid‐level managers did not consider servant leadership and paternalistic leadership styles as inconsistent, while the Western populace thinks of them as mutually exclusive. This study is a step in the complex process of theorizing about the contextual dynamics of leadership.