PurposeErrors or negligence are inherent parts of professional services, thus necessitating the adoption of professional indemnity insurance (PII) as a risk management tool to protect professional interest. This paper sought to examine the adoption of PII among Estate Surveying and Valuation firms in Oyo State, Nigeria.Design/methodology/approachThe quantitative research methodology was adopted, and primary data were collected via questionnaires distributed to 84 purposively selected Estate Surveyors and Valuers (ESVs) who are mostly principal partners or branch managers in the study area. Sixty-three questionnaires representing 75.0% were returned and found useable. Data collected were analysed with the aid of descriptive statistics of percentages and relative importance index (RII).FindingsThe study found that the influence of foreign investors as well as the requirements of PII by the professional body as a basis for annual license renewal were responsible for higher level of awareness among the practitioners. However, about average of the firms had adopted PII with few taking professional insurance policy of as low as ₦500,000 per annum. The study recommends that NIESV/ESVARBON should sensitize, monitor and enforce the adoption of PII by ESVs as a means to increase public confidence and credibility of valuers while rendering professional services to clients.Research limitations/implicationsThe current study was limited in coverage to Ibadan thus necessitating a study with wider area of coverage of national status.Practical implicationsThe study has major implications on real estate education and practice in Nigeria. There is an urgent need for the professional body to devise means of enforcing compliance with the adoption of PII so as to be able to get the confidence of their teeming clients for subsequent patronage.Originality/valueThe paper is one among the scanty studies that provides a useful guide to real estate practitioners in developing countries towards adopting PII to shield the company from unnecessary negative exposure and financial loss.
{"title":"Adoption of professional indemnity insurance among estate surveying and valuation firms in Oyo State, Nigeria","authors":"Immaculata Anthony Ekpo, T. Oladokun","doi":"10.1108/pm-10-2022-0079","DOIUrl":"https://doi.org/10.1108/pm-10-2022-0079","url":null,"abstract":"PurposeErrors or negligence are inherent parts of professional services, thus necessitating the adoption of professional indemnity insurance (PII) as a risk management tool to protect professional interest. This paper sought to examine the adoption of PII among Estate Surveying and Valuation firms in Oyo State, Nigeria.Design/methodology/approachThe quantitative research methodology was adopted, and primary data were collected via questionnaires distributed to 84 purposively selected Estate Surveyors and Valuers (ESVs) who are mostly principal partners or branch managers in the study area. Sixty-three questionnaires representing 75.0% were returned and found useable. Data collected were analysed with the aid of descriptive statistics of percentages and relative importance index (RII).FindingsThe study found that the influence of foreign investors as well as the requirements of PII by the professional body as a basis for annual license renewal were responsible for higher level of awareness among the practitioners. However, about average of the firms had adopted PII with few taking professional insurance policy of as low as ₦500,000 per annum. The study recommends that NIESV/ESVARBON should sensitize, monitor and enforce the adoption of PII by ESVs as a means to increase public confidence and credibility of valuers while rendering professional services to clients.Research limitations/implicationsThe current study was limited in coverage to Ibadan thus necessitating a study with wider area of coverage of national status.Practical implicationsThe study has major implications on real estate education and practice in Nigeria. There is an urgent need for the professional body to devise means of enforcing compliance with the adoption of PII so as to be able to get the confidence of their teeming clients for subsequent patronage.Originality/valueThe paper is one among the scanty studies that provides a useful guide to real estate practitioners in developing countries towards adopting PII to shield the company from unnecessary negative exposure and financial loss.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48207801","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abdul Basit, Ismail Nizam, R. Goh, Sharmila Sethumadhavan, N. Hanif, Zubair Hassan, Ainoriza Mohd Aini
PurposeProperty management companies in residential properties are increasingly using ICT and specific property management software applications to conduct daily property management tasks. However, the benefits of using specific software applications and how it can add value to property management companies are largely unexplored. The present study examines the impact of property management mobile applications usage features on strata property residents' satisfaction in Kuala Lumpur.Design/methodology/approachA total of 205 residents from 3 strata residential buildings in Kuala Lumpur using property management applications were surveyed. The study employed structural equation modelling using SPSS Amos software.FindingsThe findings suggest that visitor management and security management via software applications positively influence the residents' satisfaction. However, facility management via software application was found to be negatively affecting residents' satisfaction.Originality/valueThe study highlighted the benefit of property managers adopting property management software to achieve increased residents' satisfaction in strata residential properties.
{"title":"Residents' satisfaction of property management mobile applications: a study in the context of strata property in Kuala Lumpur, Malaysia","authors":"Abdul Basit, Ismail Nizam, R. Goh, Sharmila Sethumadhavan, N. Hanif, Zubair Hassan, Ainoriza Mohd Aini","doi":"10.1108/pm-08-2022-0058","DOIUrl":"https://doi.org/10.1108/pm-08-2022-0058","url":null,"abstract":"PurposeProperty management companies in residential properties are increasingly using ICT and specific property management software applications to conduct daily property management tasks. However, the benefits of using specific software applications and how it can add value to property management companies are largely unexplored. The present study examines the impact of property management mobile applications usage features on strata property residents' satisfaction in Kuala Lumpur.Design/methodology/approachA total of 205 residents from 3 strata residential buildings in Kuala Lumpur using property management applications were surveyed. The study employed structural equation modelling using SPSS Amos software.FindingsThe findings suggest that visitor management and security management via software applications positively influence the residents' satisfaction. However, facility management via software application was found to be negatively affecting residents' satisfaction.Originality/valueThe study highlighted the benefit of property managers adopting property management software to achieve increased residents' satisfaction in strata residential properties.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47623849","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
PurposeThis article seeks to offer an answer. It explores the criteria on which commercial property market participants can develop strategies in hugely challenging circumstances. For this purpose, a survey-based approach was developed with work conducted with property-market professional in the United Kingdom (UK), France, Germany and Sweden to produce a criteria-based tool supporting adaption to changing market circumstances.Design/methodology/approachThe data have been analyzed using statistical analysis. The data's statistical analysis included Cronbach's alpha's application to evaluate the respondents' replies' reliability. A entral tendency test was used to identify the means of relevance of the criteria. The Mann–Whitney U test was used to determine potential material differences between the UK and other countries with Bonferroni corrections applied to minimize type-I errors.FindingsThirty characteristics have been identified that impact the dynamics of the commercial property market. Their relevance to the commercial property market was determined using a survey. The literature analysis showed that the researchers paid more attention to quantitative criteria and their comparison. The survey showed that the relevance of criteria to the commercial property market dynamics is unequal. However, the survey results showed that it is most important to pay attention to emotional criteria to adapt to uncertainty changing conditions. The problem of the environment has been on the agenda for the last four decades. Therefore, the fact that the results of the study showed that the environmental criteria are the least significant is unexpected.Research limitations/implicationsThe study involved economically developed countries of Europe. Extending the study's geographical scope would be valuable in revealing whether the same differences exist in other geographical areas (such as Australia or the USA).Practical implicationsThe practical implication of the analysis may be to facilitate the decision-making process of either selecting a country for commercial property investment or selecting the most sensitive and relevant criteria for the decision-making.Originality/valueCriteria for commercial property market performance which promote successful property investment have been developed. Moreover, the criteria affecting the commercial property market have been weighted by their relevance to the market and their sequence of relevance has been established. And finally, the developed criteria have been placed into five groups that could serve as a foundation for a macro-level assessment of commercial property market dynamics.
{"title":"Is there an optimum way for the commercial property market to adjust to the changing circumstances?","authors":"J. Banytė, C. Mulhearn","doi":"10.1108/pm-01-2023-0005","DOIUrl":"https://doi.org/10.1108/pm-01-2023-0005","url":null,"abstract":"PurposeThis article seeks to offer an answer. It explores the criteria on which commercial property market participants can develop strategies in hugely challenging circumstances. For this purpose, a survey-based approach was developed with work conducted with property-market professional in the United Kingdom (UK), France, Germany and Sweden to produce a criteria-based tool supporting adaption to changing market circumstances.Design/methodology/approachThe data have been analyzed using statistical analysis. The data's statistical analysis included Cronbach's alpha's application to evaluate the respondents' replies' reliability. A entral tendency test was used to identify the means of relevance of the criteria. The Mann–Whitney U test was used to determine potential material differences between the UK and other countries with Bonferroni corrections applied to minimize type-I errors.FindingsThirty characteristics have been identified that impact the dynamics of the commercial property market. Their relevance to the commercial property market was determined using a survey. The literature analysis showed that the researchers paid more attention to quantitative criteria and their comparison. The survey showed that the relevance of criteria to the commercial property market dynamics is unequal. However, the survey results showed that it is most important to pay attention to emotional criteria to adapt to uncertainty changing conditions. The problem of the environment has been on the agenda for the last four decades. Therefore, the fact that the results of the study showed that the environmental criteria are the least significant is unexpected.Research limitations/implicationsThe study involved economically developed countries of Europe. Extending the study's geographical scope would be valuable in revealing whether the same differences exist in other geographical areas (such as Australia or the USA).Practical implicationsThe practical implication of the analysis may be to facilitate the decision-making process of either selecting a country for commercial property investment or selecting the most sensitive and relevant criteria for the decision-making.Originality/valueCriteria for commercial property market performance which promote successful property investment have been developed. Moreover, the criteria affecting the commercial property market have been weighted by their relevance to the market and their sequence of relevance has been established. And finally, the developed criteria have been placed into five groups that could serve as a foundation for a macro-level assessment of commercial property market dynamics.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42620805","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
PurposeThe purpose of this paper is to evaluate the quality of housing services in the students’ residential areas (SRAs) of Osun State University, Osogbo campus.Design/methodology/approachEighty-eight hostels were systematically sampled and questionnaires were administered to students' representatives from each of the sampled hostels. Also utilized was a physical observation of the hostels. Data obtained include the socioeconomic characteristics of the students, characteristics of housing units in the SRAs and condition of housing services in the SRAs.FindingsAbout 40% of the residents are fresh students with no previous knowledge of the housing condition of their hostels. Also, about 50% of the accommodation in the SRAs is within the range of #51,000 – #100,000 per annum (about 200–400 US Dollars). With this high price, about 65% of the hostels are occupied with not less than two squatters. While housing services such as electricity are reportedly high, the quality of hostel services in the study area depends on the housing unit's cost.Social implicationsIn the social context, the paper identifies the implications of the quality of housing services on students' health and associated risks. The study, among others, recommends the development of a regulatory framework for the control of the rental value of hostels, basic facilities in the hostels and the number of students in a room.Originality/valueThis research, unlike previous researches, gives an insight into quality of housing services in tertiary institutions in the country.
{"title":"Quality of housing services in the student residential areas of Osun State University, Osogbo campus, Nigeria","authors":"S. Olanrewaju, Grace Garba, Testimony Ogunwale","doi":"10.1108/pm-02-2023-0018","DOIUrl":"https://doi.org/10.1108/pm-02-2023-0018","url":null,"abstract":"PurposeThe purpose of this paper is to evaluate the quality of housing services in the students’ residential areas (SRAs) of Osun State University, Osogbo campus.Design/methodology/approachEighty-eight hostels were systematically sampled and questionnaires were administered to students' representatives from each of the sampled hostels. Also utilized was a physical observation of the hostels. Data obtained include the socioeconomic characteristics of the students, characteristics of housing units in the SRAs and condition of housing services in the SRAs.FindingsAbout 40% of the residents are fresh students with no previous knowledge of the housing condition of their hostels. Also, about 50% of the accommodation in the SRAs is within the range of #51,000 – #100,000 per annum (about 200–400 US Dollars). With this high price, about 65% of the hostels are occupied with not less than two squatters. While housing services such as electricity are reportedly high, the quality of hostel services in the study area depends on the housing unit's cost.Social implicationsIn the social context, the paper identifies the implications of the quality of housing services on students' health and associated risks. The study, among others, recommends the development of a regulatory framework for the control of the rental value of hostels, basic facilities in the hostels and the number of students in a room.Originality/valueThis research, unlike previous researches, gives an insight into quality of housing services in tertiary institutions in the country.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48608938","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
PurposePurchasing real estate is one of the most important and complex decisions in a life of an individual, which should take numerous factors into account. The purpose of this research is to identify which behavioral factors significantly affect the intention to buy real estate. Since the real estate market is continuously changing, along with other economic and life conditions, it is expected that different generations have different characteristics which affect their behavior; therefore, it is important to analyze generational influence on buyers' behavior.Design/methodology/approachA survey analysis was conducted on a sample of 434 respondents in Croatia. Partial least squares structural equation modeling was used to obtain the results. The moderating effect of generational affiliation was observed.FindingsOverconfidence significantly affects intention to buy real estate, but it doesn't affect the level of importance individuals give to financial factors. On the other hand, herding significantly affects the level of importance given to financial factors, whereas it does not directly affect buying intention. A significant moderating effect of generational affiliation was found for the impact of overconfidence on financial factors, suggesting a negative effect for younger generations and a positive effect for older generations.Originality/valueThis research proposes a novel unique model with both behavioral and financial factors as predictors of the intention to buy real estate, together with generational differences in buyers' behavior. Understanding normal human behavior is crucial to determine how buyers' decisions and intentions change under the influence of certain biases or characteristics such as generational affiliation.
{"title":"Generational differences in behavioral factors affecting real estate purchase intention","authors":"Marija Vuković","doi":"10.1108/pm-11-2022-0088","DOIUrl":"https://doi.org/10.1108/pm-11-2022-0088","url":null,"abstract":"PurposePurchasing real estate is one of the most important and complex decisions in a life of an individual, which should take numerous factors into account. The purpose of this research is to identify which behavioral factors significantly affect the intention to buy real estate. Since the real estate market is continuously changing, along with other economic and life conditions, it is expected that different generations have different characteristics which affect their behavior; therefore, it is important to analyze generational influence on buyers' behavior.Design/methodology/approachA survey analysis was conducted on a sample of 434 respondents in Croatia. Partial least squares structural equation modeling was used to obtain the results. The moderating effect of generational affiliation was observed.FindingsOverconfidence significantly affects intention to buy real estate, but it doesn't affect the level of importance individuals give to financial factors. On the other hand, herding significantly affects the level of importance given to financial factors, whereas it does not directly affect buying intention. A significant moderating effect of generational affiliation was found for the impact of overconfidence on financial factors, suggesting a negative effect for younger generations and a positive effect for older generations.Originality/valueThis research proposes a novel unique model with both behavioral and financial factors as predictors of the intention to buy real estate, together with generational differences in buyers' behavior. Understanding normal human behavior is crucial to determine how buyers' decisions and intentions change under the influence of certain biases or characteristics such as generational affiliation.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44612162","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Andrew Ebekozien, C. Aigbavboa, M. S. Samsurijan, R. B. Radin Firdaus, Solomon Oisasoje Ayo-Odifiri, G. C. Amadi
PurposeSeveral studies have shown that the mechanism of labour-intensive construction (LIC) projects can mitigate high unemployment and create skilled development, especially in developing nations. The guidelines and practices for implementation may have faced some encumbrances in some countries. Whether the current guidelines and practices for municipal infrastructure support agent (MISA) to execute LIC projects face hindrances in South Africa has yet to receive in-depth studies. Thus, this study attempts to proffer policy solutions to improve the proposed revised guidelines and practices for MISA in LIC project execution in South Africa.Design/methodology/approachThe study's objectives were accomplished via a combination of 16 virtual interviews of built environment professionals and government officials involved in LIC project execution in South Africa and supported by the analysed documents. A thematic approach was used to analyse the data and presented two main themes.FindingsFindings show lax enforcement of discretionary funds, lax institutional capacity and inadequate individual skills, among others, as the gaps in existing South Africa's LIC guidelines and practices. Also, policy solutions to address the gaps were proffered.Practical implicationsThe suggested feasible policies will improve the proposed revised guidelines and practices for MISA in LIC project execution in South Africa. This guide will promote the development of individual skills, institutional capacities and increase employment across South Africa.Originality/valueThis study promotes the use of LIC to create employment and contribute to proffering measures that will improve the proposed revised third edition of the guidelines and practices for MISA to execute LIC.
{"title":"An appraisal of guidelines and practices for municipal infrastructure support agent to execute labour-intensive construction projects in South Africa","authors":"Andrew Ebekozien, C. Aigbavboa, M. S. Samsurijan, R. B. Radin Firdaus, Solomon Oisasoje Ayo-Odifiri, G. C. Amadi","doi":"10.1108/pm-11-2022-0087","DOIUrl":"https://doi.org/10.1108/pm-11-2022-0087","url":null,"abstract":"PurposeSeveral studies have shown that the mechanism of labour-intensive construction (LIC) projects can mitigate high unemployment and create skilled development, especially in developing nations. The guidelines and practices for implementation may have faced some encumbrances in some countries. Whether the current guidelines and practices for municipal infrastructure support agent (MISA) to execute LIC projects face hindrances in South Africa has yet to receive in-depth studies. Thus, this study attempts to proffer policy solutions to improve the proposed revised guidelines and practices for MISA in LIC project execution in South Africa.Design/methodology/approachThe study's objectives were accomplished via a combination of 16 virtual interviews of built environment professionals and government officials involved in LIC project execution in South Africa and supported by the analysed documents. A thematic approach was used to analyse the data and presented two main themes.FindingsFindings show lax enforcement of discretionary funds, lax institutional capacity and inadequate individual skills, among others, as the gaps in existing South Africa's LIC guidelines and practices. Also, policy solutions to address the gaps were proffered.Practical implicationsThe suggested feasible policies will improve the proposed revised guidelines and practices for MISA in LIC project execution in South Africa. This guide will promote the development of individual skills, institutional capacities and increase employment across South Africa.Originality/valueThis study promotes the use of LIC to create employment and contribute to proffering measures that will improve the proposed revised third edition of the guidelines and practices for MISA to execute LIC.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44122781","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
PurposeThis study aims to investigate key aspects of public ownership of land, expropriation and compensation laws and practices in Ethiopia with special reference to Burayu Town.Design/methodology/approachA mixed research technique of descriptive and analytic approach is applied in the research. This study used a purposive sampling technique to select case study counties and a systematic method for sampling households. Questionnaire surveys, focus group discussions, interviews and observations were used to collect empirical data. Average, percentage and paired-sample t-test analyses are used for quantitative data analysis.FindingsSignificant discrepancies exist between the expropriation laws and how property valuation and compensation are practiced in Ethiopia. The findings include the arbitrariness in designating public interest status to projects; unfair property valuation practice that neglects location factor to determine market value due to a skewed understanding of public ownership of land; and the assignment of property valuators who have no valuation expertise and proper knowledge of expropriation related laws. Findings revealed the socio-economic status of expropriated households has deteriorated due to the expropriation of their landholding.Research limitations/implicationsIt was difficult to locate the relocated persons as they were resettled in different localities. Furthermore, the town officers were not forthcoming to provide complete information on the expropriation and compensation procedures they followed. However, this study overcame the limitations through persistent requests and availing time for the data gathering.Practical implicationsThe findings indicated the need to redefine relationships between public ownership of land, public interest and expropriation of landholding. A proper understanding of the triad will pave the way for better expropriation practice in Ethiopia and in countries where land is under public ownership.Social implicationsThe social implication of the study revealed that the socio-economic situation of relocated persons was adversely affected due to the poor implementation of laws.Originality/valueThe disparity between public ownership of land and the rights of citizens on landholding is misunderstood by policymakers. Research has shown for the first time the root cause for the discontent of expropriated persons in Ethiopia.
{"title":"Assessment of the dichotomy between public ownership of land, expropriation laws and practices in Ethiopia: the case of Burayu town","authors":"Abebe Hambe Talema, Wubshet Berhanu Nigusie","doi":"10.1108/pm-01-2023-0009","DOIUrl":"https://doi.org/10.1108/pm-01-2023-0009","url":null,"abstract":"PurposeThis study aims to investigate key aspects of public ownership of land, expropriation and compensation laws and practices in Ethiopia with special reference to Burayu Town.Design/methodology/approachA mixed research technique of descriptive and analytic approach is applied in the research. This study used a purposive sampling technique to select case study counties and a systematic method for sampling households. Questionnaire surveys, focus group discussions, interviews and observations were used to collect empirical data. Average, percentage and paired-sample t-test analyses are used for quantitative data analysis.FindingsSignificant discrepancies exist between the expropriation laws and how property valuation and compensation are practiced in Ethiopia. The findings include the arbitrariness in designating public interest status to projects; unfair property valuation practice that neglects location factor to determine market value due to a skewed understanding of public ownership of land; and the assignment of property valuators who have no valuation expertise and proper knowledge of expropriation related laws. Findings revealed the socio-economic status of expropriated households has deteriorated due to the expropriation of their landholding.Research limitations/implicationsIt was difficult to locate the relocated persons as they were resettled in different localities. Furthermore, the town officers were not forthcoming to provide complete information on the expropriation and compensation procedures they followed. However, this study overcame the limitations through persistent requests and availing time for the data gathering.Practical implicationsThe findings indicated the need to redefine relationships between public ownership of land, public interest and expropriation of landholding. A proper understanding of the triad will pave the way for better expropriation practice in Ethiopia and in countries where land is under public ownership.Social implicationsThe social implication of the study revealed that the socio-economic situation of relocated persons was adversely affected due to the poor implementation of laws.Originality/valueThe disparity between public ownership of land and the rights of citizens on landholding is misunderstood by policymakers. Research has shown for the first time the root cause for the discontent of expropriated persons in Ethiopia.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-07-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43278827","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Håkon Bergseng Brannan, Christian Pjaaka, A. Oust, Ole Jakob Sønstebø
PurposeIn periods of economic distress, expectations for businesses change and there is a heightened need for reporting quality. This study investigates the impact of crises on earnings management in the real estate sector.Design/methodology/approachThe data consisted of financial statements from 2005 to 2021 from real estate firms listed on 10 European stock exchanges. Estimated discretionary accruals from four standard accruals models were used as a proxy for earnings management, using cross-sectional industry and firm fixed effects models. The authors examined earnings management during three crises: the financial crisis (2008–2009), the debt crisis (2011–2012) and the COVID-19 pandemic (2020–2021).FindingsThe results showed less earnings management during the COVID-19 crisis and more earnings management during the financial crisis, though with slightly weaker evidence. The authors did not find significant evidence of earnings management related to the debt crisis. These results suggest that stakeholders in the real estate sector should be extra vigilant in crisis periods.Originality/valueThis study is the first to investigate earnings management in European real estate firms, focusing on the impact of crises.
{"title":"Earnings management in European real estate firms during crisis periods","authors":"Håkon Bergseng Brannan, Christian Pjaaka, A. Oust, Ole Jakob Sønstebø","doi":"10.1108/pm-10-2022-0077","DOIUrl":"https://doi.org/10.1108/pm-10-2022-0077","url":null,"abstract":"PurposeIn periods of economic distress, expectations for businesses change and there is a heightened need for reporting quality. This study investigates the impact of crises on earnings management in the real estate sector.Design/methodology/approachThe data consisted of financial statements from 2005 to 2021 from real estate firms listed on 10 European stock exchanges. Estimated discretionary accruals from four standard accruals models were used as a proxy for earnings management, using cross-sectional industry and firm fixed effects models. The authors examined earnings management during three crises: the financial crisis (2008–2009), the debt crisis (2011–2012) and the COVID-19 pandemic (2020–2021).FindingsThe results showed less earnings management during the COVID-19 crisis and more earnings management during the financial crisis, though with slightly weaker evidence. The authors did not find significant evidence of earnings management related to the debt crisis. These results suggest that stakeholders in the real estate sector should be extra vigilant in crisis periods.Originality/valueThis study is the first to investigate earnings management in European real estate firms, focusing on the impact of crises.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45837123","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
PurposeThe Customary Land Delivery Institutions (CLDIs) provide the platform for the supply of developable land in most cities in sub-Saharan African countries. While there is a need to measure the effectiveness of CLDIs to compare their performance with others or themselves over time, there is however a dearth of evidence-based frameworks that could be adopted for such an assessment. This study developed a framework for the evaluation of the effectiveness of CLDIs. This is with a view to providing a tool for measuring the performance of land governance.Design/methodology/approachA total of 46 good governance criteria for measuring the various dimensions of CLDIs generated from the literature were transformed into a measurable scale which was validated by a panel of 16 experts through a modified Delphi approach. A pilot study was also conducted on 42 land-based professionals to assess the reliability of the framework. Content Validity Index (CVI) was calculated for relevancy scores while clarity was measured by clarity score. Cronbach alpha was also employed to measure the reliability of the framework.FindingsThe result of the 46 criteria validated by the experts revealed that 89.5% of items in the developed instrument have a content validity index (I-CVI) equal to or greater than the 0.85 threshold and a mean I-CVI of 0.90. With the CVI score and the analysis of the comments made by the experts, six items were removed from the instrument and a total of six new items were added. The final corrected instrument after a further iteration had a total of 46 items. The reliability test also revealed a Cronbach alpha score of 0.82.Research limitations/implicationsThis paper provides a framework useful for developing countries, especially in the development of land delivery policies and provides a framework for the analysis of the important aspects thereof.Originality/valueThis paper demonstrates the development of a holistic framework for the assessment of CLDIs which hitherto were not in existence.
{"title":"A framework for assessment of customary land delivery institutions: instrument development, content validity and reliability testing","authors":"D. Olapade, Tajudeen Bioye Aluko, Ademola Lateef Adisa, Adewale Adebanjo Abobarin","doi":"10.1108/pm-06-2022-0041","DOIUrl":"https://doi.org/10.1108/pm-06-2022-0041","url":null,"abstract":"PurposeThe Customary Land Delivery Institutions (CLDIs) provide the platform for the supply of developable land in most cities in sub-Saharan African countries. While there is a need to measure the effectiveness of CLDIs to compare their performance with others or themselves over time, there is however a dearth of evidence-based frameworks that could be adopted for such an assessment. This study developed a framework for the evaluation of the effectiveness of CLDIs. This is with a view to providing a tool for measuring the performance of land governance.Design/methodology/approachA total of 46 good governance criteria for measuring the various dimensions of CLDIs generated from the literature were transformed into a measurable scale which was validated by a panel of 16 experts through a modified Delphi approach. A pilot study was also conducted on 42 land-based professionals to assess the reliability of the framework. Content Validity Index (CVI) was calculated for relevancy scores while clarity was measured by clarity score. Cronbach alpha was also employed to measure the reliability of the framework.FindingsThe result of the 46 criteria validated by the experts revealed that 89.5% of items in the developed instrument have a content validity index (I-CVI) equal to or greater than the 0.85 threshold and a mean I-CVI of 0.90. With the CVI score and the analysis of the comments made by the experts, six items were removed from the instrument and a total of six new items were added. The final corrected instrument after a further iteration had a total of 46 items. The reliability test also revealed a Cronbach alpha score of 0.82.Research limitations/implicationsThis paper provides a framework useful for developing countries, especially in the development of land delivery policies and provides a framework for the analysis of the important aspects thereof.Originality/valueThis paper demonstrates the development of a holistic framework for the assessment of CLDIs which hitherto were not in existence.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46774360","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
João Fragoso Januário, Carlos Oliveira Cruz, H. Varum, Vítor Faria e Sousa
PurposeFrom the perspective of housing affordability, Portugal is an interesting case study, considering that Portugal ranks 5th in terms of price-to-income ratio and has experienced, since 2015, a significant increase in real estate prices.Design/methodology/approachThe provision of housing is a critical social development factor. With the growing worldwide urbanization and the demand pressure over real estate in many cities, the problem of affordability has gained increase attention by policy makers. Housing affordability is hardly a new topic from a literature perspective, but the recent post-pandemic worldwide inflation growth has re-centered affordability as key topic in the housing agenda. This paper provides a comprehensive overview on past literature and a detailed analysis on the Portuguese market at the municipal level, by analyzing the changes in housing affordability in recent years.FindingsDespite this growth, overall, affordability has improved. The study also shows the importance of municipal-level analysis, given the significant geographical differences. The authors' study confirms that many municipalities, outside metropolitan areas, exhibit low levels of affordability. Nevertheless, markets with higher average real estate values tend to exhibit even lower affordability, outpacing the higher levels of income.Originality/valuePrevious studies have focused on affordability issues on a national or highly aggregated level or focusing only on the two largest metropolitan areas in the country. This paper provides a deeper understanding on the inequalities of housing affordability between Portuguese municipalities.
{"title":"Is housing becoming less affordable? A study of affordability in the Portuguese housing market","authors":"João Fragoso Januário, Carlos Oliveira Cruz, H. Varum, Vítor Faria e Sousa","doi":"10.1108/pm-08-2022-0059","DOIUrl":"https://doi.org/10.1108/pm-08-2022-0059","url":null,"abstract":"PurposeFrom the perspective of housing affordability, Portugal is an interesting case study, considering that Portugal ranks 5th in terms of price-to-income ratio and has experienced, since 2015, a significant increase in real estate prices.Design/methodology/approachThe provision of housing is a critical social development factor. With the growing worldwide urbanization and the demand pressure over real estate in many cities, the problem of affordability has gained increase attention by policy makers. Housing affordability is hardly a new topic from a literature perspective, but the recent post-pandemic worldwide inflation growth has re-centered affordability as key topic in the housing agenda. This paper provides a comprehensive overview on past literature and a detailed analysis on the Portuguese market at the municipal level, by analyzing the changes in housing affordability in recent years.FindingsDespite this growth, overall, affordability has improved. The study also shows the importance of municipal-level analysis, given the significant geographical differences. The authors' study confirms that many municipalities, outside metropolitan areas, exhibit low levels of affordability. Nevertheless, markets with higher average real estate values tend to exhibit even lower affordability, outpacing the higher levels of income.Originality/valuePrevious studies have focused on affordability issues on a national or highly aggregated level or focusing only on the two largest metropolitan areas in the country. This paper provides a deeper understanding on the inequalities of housing affordability between Portuguese municipalities.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45395211","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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