The growth of the green office market in the UK

2015 ◽  
Vol 8 (3) ◽  
pp. 267-284 ◽  
Author(s):  
Tunbosun Oyedokun ◽  
Colin Jones ◽  
Neil Dunse
Keyword(s):  
Spatial Pattern ◽  
Empirical Analysis ◽  
Green Buildings ◽  
Office Buildings ◽  
Local Market ◽  
Content Type ◽  
Office Market ◽  
The Uk ◽  
National Trends ◽  
The Empirical Analysis

Purpose – The purpose of this paper is to examine the experience of the UK office market in embracing green buildings. The empirical analysis considers the spatial pattern and growth of green buildings in cities since 1990. It examines the perceived industry wisdom that the establishment of a green premium for occupation is the key to greening the office stock. Design/methodology/approach – The paper begins by looking at the concept of a green office and then examines the evolving attitudes towards these offices and the issues for local market dynamics. The empirical analysis examines the current spatial pattern of green office buildings in the UK and then their impact on city office markets, where there is a major concentration. The latter part of the paper examines the growth of green offices since 1990. It begins with national trends and then examines the evolution of green development in individual cities. Findings – The initial adoption of green offices was slow. There has been a dramatic rise in green offices at the peak of the past decade’s development boom and in the immediate years that followed. Market acceptance of the importance of greenness appears still to be in the melting pot with limited market transactions since 2008. Green offices represent only 2.7 per cent of office buildings and 12 per cent of total space in the market. Most green offices are in the principal cities with the largest concentration in London. London represents the only potential locality where a green market could have been established so far. Practical implications – The paper provides an empirical assessment of the growth of green offices in the UK. Originality/value – This is the first paper to consider the development and scale of green offices in the context of local markets. It challenges the perceived wisdom that a green premium is central to the green transformation to date.

scholarly journals Impact of the volatility of resource revenue on non-resource revenue volatility

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sena Kimm Gnangnon
Keyword(s):  
Empirical Analysis ◽  
Economic Diversification ◽  
Data Set ◽  
Content Type ◽  
Generalized Methods Of Moments ◽  
Public Revenue ◽  
Revenue Volatility ◽  
The Stability ◽  
Methods Of Moments ◽  
The Empirical Analysis

PurposeThis paper investigates the effect of the volatility of resource revenue on the volatility of non-resource revenue.Design/methodology/approachThe empirical analysis has utilized an unbalanced panel data set comprising 54 countries over the period 1980–2015. The two-step system generalized methods of moments (GMM) is the main economic approach used to carry out the empirical analysis.FindingsResults show that resource revenue volatility generates lower non-resource revenue volatility only when the share of resource revenue in total public revenue is lower than 18%. Otherwise, higher resource revenue volatility would result in a rise in non-resource revenue volatility.Research limitations/implicationsIn light of the adverse effect of volatility of non-resource revenue on public spending, and hence on economic growth and development prospects, countries whose total public revenue is highly dependent on resource revenue should adopt appropriate policies to ensure the rise in non-resource revenue, as well as the stability of the latter.Practical implicationsEconomic diversification in resource-rich countries (particularly in developing countries among them) could contribute to reducing the dependence of economies on natural resources, and hence the dependence of public revenue on resource revenue. Therefore, policies in favour of economic diversification would contribute to stabilizing non-resource revenue, which is essential for financing development needs.Originality/valueTo the best of our knowledge, this topic has not been addressed in the literature.

Risk connectedness of selected CESEE stock markets: a spillover index approach

2019 ◽  
Vol 10 (4) ◽  
pp. 447-472 ◽  
Author(s):  
Tihana Škrinjarić ◽  
Boško Šego
Keyword(s):  
Empirical Analysis ◽  
Stock Markets ◽  
Investment Strategies ◽  
Content Type ◽  
Index Approach ◽  
Dynamic Portfolio ◽  
International Investors ◽  
Developed Stock Markets ◽  
The Empirical Analysis ◽  
Over Time

Purpose The purpose of this paper is to empirically evaluate risk spillovers between selected CESEE (Central, Eastern and South-Eastern Europe) stock markets in order to evaluate the possibilities of an international diversification of a portfolio. Design/methodology/approach The VAR model and the Diebold and Yilmaz (2009, 2012) spillover index are used, with rolling indices estimation over time in order to observe dynamics, which is important for investment strategies. Data are monthly and include selected CESEE stock market indices which were available to the researcher. Findings The empirical analysis for the period of January 2012–June 2019 indicates that some country risks were the net emitter of shocks in the system (Slovenia and Czech Republic), whereas some were net receivers (Croatia and Ukraine). The results are robust with respect to changing the length of the rolling window analysis, which means that investors could utilize such an approach in a dynamic portfolio selection. Research limitations/implications Observing only selected markets due to data (un)availability. Practical implications The paper shows how international investors can utilize the aforementioned methodology in order to make a more detailed analysis of the dynamics of stock markets connectedness so that international portfolios can be rebalanced according to the results and investors’ preferences. Originality/value This is the first such research which focuses on CESEE countries, since existing research is focused on more developed stock markets. Moreover, the empirical analysis extends to commenting the pairwise net indices over time, which is important for the dynamic portfolio rebalancing over time.

Building a global training initiative fit for KONE’s diverse workforce

2018 ◽  
Vol 17 (2) ◽  
pp. 91-94
Author(s):  
Samantha Caine
Keyword(s):  
Design Methodology ◽  
Training Programme ◽  
Local Market ◽  
Front Line ◽  
Content Type ◽  
Diverse Workforce ◽  
Course Materials ◽  
The Uk ◽  
Global Training ◽  
Multiple Languages

Purpose Business Linked Teams was tasked with creating a training programme for KONE to transform sales people in various markets to communicate value, differentiate the organisation from its competitors, improve margins and increase orders. Design/methodology/approach Business Linked Teams developed a global solution that is adaptable to local market conditions with case studies, activities and role plays and further course materials developed specifically for each respective front line of sales staff. The programme was also developed to run in multiple languages. The solution comprises two modules that are run approximately six months apart, supported by online learning elements. Findings In the UK, the results nine months post-training were that 72 participants had identified £11,463,378 worth of orders achieved as a result of the skills and processes they were able to use after the training, with £5,044,942 of future orders in the pipeline. Originality/value Business Linked Teams created an original training programme that was tailored to the unique needs of KONE. Each training programme that was created was designed to meet the specific goals of the organisation to ensure that the most effective route possible is taken and to maximise uptake of learning once the programmes have ended.

Multidimensional performance evaluation styles: budget rigidity and discretionary adjustments

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Keita Masuya ◽  
Eisuke Yoshida
Keyword(s):  
Performance Evaluation ◽  
Empirical Analysis ◽  
Environmental Uncertainty ◽  
Two Dimensions ◽  
Performance Evaluations ◽  
Performance Criteria ◽  
Content Type ◽  
Ex Post ◽  
Performance Effects ◽  
The Empirical Analysis

Purpose This study aims to reconceptualize performance evaluation styles and reveal their performance effects. Design/methodology/approach Based on a literature review, this study conceptualizes performance evaluation styles on two dimensions: priority of budgetary targets when setting performance criteria and use of accounting information for ex-post performance evaluation. This study discusses two concepts – budget rigidity and discretionary adjustments – to explain these two dimensions, and their optimal combination is then investigated by considering environmental uncertainty. The empirical analysis uses survey data from Japanese firms. Findings The results indicate that suitable combinations of budget rigidity and discretionary adjustments differ depending on environmental uncertainty. As expected, a combination of lower budget rigidity and higher discretionary adjustments is optimal in an uncertain environment. Contrary to expectations, a combination of higher budget rigidity and higher discretionary adjustments is optimal in a stable environment. Moreover, higher discretionary adjustments complement budgetary targets’ motivational effects, regardless of environmental uncertainty. Originality/value This study’s theoretical and empirical analysis suggests that it is difficult to understand the performance implications of performance evaluation styles without recognizing their multidimensionality and interdependencies. Moreover, the results demonstrate that discretionary adjustments in budget-based performance evaluations seem to act rationally in practice.

Discount models in intertemporal choice: an empirical analysis

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Isabel María Parra Oller ◽  
Salvador Cruz Rambaud ◽  
María del Carmen Valls Martínez
Keyword(s):  
Empirical Analysis ◽  
Intertemporal Choice ◽  
Hyperbolic Discounting ◽  
Least Squares Regression ◽  
Discount Function ◽  
Content Type ◽  
The Individual ◽  
Gains And Losses ◽  
First Time ◽  
The Empirical Analysis

PurposeThe main purpose of this paper is to determine the discount function which better fits the individuals' preferences through the empirical analysis of the different functions used in the field of intertemporal choice.Design/methodology/approachAfter an in-depth revision of the existing literature and unlike most studies which only focus on exponential and hyperbolic discounting, this manuscript compares the adjustment of data to six different discount functions. To do this, the analysis is based on the usual statistical methods, and the non-linear least squares regression, through the algorithm of Gauss-Newton, in order to estimate the models' parameters; finally, the AICc method is used to compare the significance of the six proposed models.FindingsThis paper shows that the so-called q-exponential function deformed by the amount is the model which better explains the individuals' preferences on both delayed gains and losses. To the extent of the authors' knowledge, this is the first time that a function different from the general hyperbola fits better to the individuals' preferences.Originality/valueThis paper contributes to the search of an alternative model able to explain the individual behavior in a more realistic way.

scholarly journals Carbon and cost critical elements: a comparative analysis of two office buildings

2017 ◽  
Vol 7 (5) ◽  
pp. 460-470 ◽  
Author(s):  
Michele Florencia Victoria ◽  
Srinath Perera ◽  
Alan Davies ◽  
Nirodha Fernando
Keyword(s):  
Office Buildings ◽  
Content Type ◽  
Study Approach ◽  
Critical Elements ◽  
Early Stages ◽  
The Difference ◽  
The Uk ◽  
Optimum Balance ◽  
Building Elements

Purpose The purpose of this paper is to identify and compare cost and carbon critical elements of two office buildings, and to help achieve an optimum balance between the capital cost (CC) and embodied carbon (EC) of buildings. Design/methodology/approach Case study approach was employed to study cost and carbon critical elements of two office buildings as it allows an in-depth and holistic investigation. Elemental estimates of CC and EC were prepared from BoQs of the two buildings by obtaining rates from the UK Building Blackbook. Pareto principle (80:20 rule) was used to identify carbon and cost critical elements of the two buildings, and the significance hierarchies of building elements were compared. Findings Substructure, frame and services were identified as both carbon and cost critical elements responsible for more than 70 per cent of the total CC and EC of both buildings. Stairs and ramps, internal doors and fittings, furnishings and equipment were identified to be the least carbon- and cost-significant elements contributing less than 2 per cent of total CC and EC in both buildings. The hierarchy of cost and carbon significance varies between buildings due to the difference in the specification and design. Originality/value The increasing significance of dual currency (cost and carbon) demands cost and carbon management during the early stages of projects. Hence, this paper suggests that focusing on carbon and cost-intensive building elements is a way forward to keep both cost and carbon under control during the early stages of projects.

Professional standards and accounting change

2015 ◽  
Vol 17 (3) ◽  
pp. 198-225
Author(s):  
Andrew Derek Holt
Keyword(s):  
Financial Reporting ◽  
Office Buildings ◽  
Professional Service ◽  
Content Type ◽  
Code Of Practice ◽  
Reporting Requirements ◽  
Service Charge ◽  
Shopping Centres ◽  
The Uk ◽  
Code Compliance

Purpose – This research aims to continue previous work by the author in the field of commercial service charge management in the UK, offering a unique cross-sectoral comparison in this paper. While prior studies have approached only one sector, this study analyzes both retail and office sectors in the UK. It examines the financial reporting and administrative practices of managing agents and the overall quality of commercial service charge documents, through which it offers commentary on the standard of professional service in service charge provision. It achieves this by benchmarking performance achieved against the accounting requirements of the UK RICS Code of Practice, Service Charges in Commercial Property. Design/methodology/approach – Data were hand collected from analysis of actual service charge documents supplied to commercial retail occupiers at 100 UK office buildings and 100 UK shopping centres during the period of 2010-2013. This process ensures authenticity by removing reliance upon third-party reporting of the said data and offers a uniquely detailed longitudinal sample. Findings – Overall levels of compliance with the financial reporting requirements of the RICS Code of Practice for Commercial Service Charges were poor in both sectors over the period of 2010-2013. Of specific concern was the widespread failure to disclose the accounting policies used during the preparation of the service charge accounts; knowing whether the accounts are prepared using an accruals or cash basis is essential for occupier decision-making purposes. Overall, the results from this study contrast with claims by the professional body that levels of “best practice” are increasing across the service charge industry. Research limitations/implications – The work analyzes service charge documents prepared during 2010-2013 for 100 office buildings and 100 retail shopping centres located in the UK. While the sample sizes utilized are relatively small, the paper provides a unique in-depth longitudinal analysis of commercial service charge documents that produces findings with high levels of generalizability. Content analysis was utilized to interpret the data and required some subjective judgement by the researcher. Originality/value – The study provides a comprehensive longitudinal study of accounting and financial reporting practices for commercial service charges in the UK retail and office sectors. Sector data are original, and the paper provides a unique benchmarking approach for assessing Code compliance at each building. This structured longitudinal approach to benchmarking differs markedly from the largely anecdotal evidence offered by the profession when defending current levels of Code compliance. In addition, the paper also provides individual compliance scorecards for 695 service charge documents in order to assess compliance with nine “core” financial reporting requirements of the RICS Code. Its chief value lies in establishing actual practice standards that can be taken up as a driver for improvement – by tenants, agents, landlords and the wider profession.

Entrepreneurial activities and models of advanced European science and technology universities

2019 ◽  
Vol 57 (12) ◽  
pp. 3447-3472 ◽  
Author(s):  
Riccardo Ricci ◽  
Alessandra Colombelli ◽  
Emilio Paolucci
Keyword(s):  
Economic Development ◽  
Best Practices ◽  
Empirical Analysis ◽  
Local Economic Development ◽  
Entrepreneurial University ◽  
Primary Data ◽  
Content Type ◽  
Qualitative Approaches ◽  
Entrepreneurial Activities ◽  
The Empirical Analysis

Purpose The purpose of this paper is threefold. It is aimed at identifying: a broad set of entrepreneurial activities; different university entrepreneurial models; and the entrepreneurial best practices of advanced European S&T universities. Design/methodology/approach The paper has adopted a mixed-method design. By mainly relying on primary data, collected through questionnaires and interviews with those in charge of the technology transfer offices of 20 universities belonging to the CESAER association, the empirical analysis has combined both quantitative and qualitative approaches. Findings The results of the empirical analysis have allowed five entrepreneurial activities to be identified. Three main entrepreneurial university models, based on different configurations of entrepreneurial activities, on different organisational and ecosystem characteristics and on a set of entrepreneurial best practices: an “engage” model, which focusses on local economic development; a “formal” model, which focusses on the financial advantage of universities and their faculties; and a “comprehensive” model, which focusses on the local economic development and the financial advantage of universities and their faculties. Research limitations/implications The first limitation of the present paper concerns the limited number of sampled universities. Moreover, this paper is limited to the European area. Future research could enlarge this study by increasing the number of universities and by focusing on other geographical areas. Furthermore, the paper does not assess the effectiveness of the identified entrepreneurial models in supporting entrepreneurship and local economic development. Further research could extend the present analysis and fill these gaps. Originality/value The paper contributes to the extant literature under many respects. First, it relies on original primary data. Moreover, it extends previous literature by encompassing the conventional distinction between formal and informal entrepreneurial activities. It also contributes to the emerging literature on entrepreneurial university models and the strategic approaches by identifying the different models of entrepreneurial universities in the European setting of S&T universities focusing on the role played by organisational and regional factors in affecting the adoption of a specific model by universities.

scholarly journals The relationship between small and medium-sized social enterprises and banks

2019 ◽  
Vol 68 (2) ◽  
pp. 389-406 ◽  
Author(s):  
Irene Bengo ◽  
Marika Arena
Keyword(s):  
Conceptual Framework ◽  
Empirical Analysis ◽  
Financial Institution ◽  
Social Enterprises ◽  
Current Debate ◽  
Content Type ◽  
Credit Availability ◽  
The Relationship ◽  
The Empirical Analysis ◽  
Lending Technologies

Purpose The purpose of this paper is to perform a critical analysis of the relationship between small- and medium-sized social enterprises (SMSEs) and banks. Based on the conceptual framework for the analysis of SME’s credit availability developed by Berger and Udell (2006), this study aims to contribute to the current debate in two ways: first, outlining the characteristics of the lending technologies currently used by banks and financial institutions to evaluate SMSEs when they apply for credit; and second, discussing, based on the results of the empirical analysis, the coherence of these systems from the social ecosystem perspective and identifying areas for possible improvement. Design/methodology/approach The paper develops a conceptual framework based on the model proposed by Berger and Udell (2006), which defines the characteristics of lending technologies that banks use to evaluate SMEs, and applies it to the case of SMSEs. To study the interplay of these lending technologies, the empirical analysis is based on a case study of five Italian banks. Data are collected from multiple sources to capture key dimensions of the problems analyzed. Findings The paper provides empirical insight about the relationship between SMSEs and banks. The Italian case shows that the current lending infrastructure must be revised to support SMSE credit availability, and government policies affect the national financial institution structure. The relationship between SMSEs and Italian banks remains underdeveloped. Social implications The research supports the scaling up of social business. Originality/value This paper fulfills an identified need to study how social enterprises credit access can be enabled.

Public goods production and value creation in wineries: a structural equation modelling

2020 ◽  
Vol 122 (5) ◽  
pp. 1705-1724 ◽  
Author(s):  
Giuseppe Marotta ◽  
Concetta Nazzaro
Keyword(s):  
Public Goods ◽  
Empirical Analysis ◽  
Value Creation ◽  
Structural Equation ◽  
Policy Instruments ◽  
Agricultural Economics ◽  
Policy Implications ◽  
Equation Modeling ◽  
Content Type ◽  
The Empirical Analysis

PurposeThe aim of the study is to analyse the value creation processes in multifunctional wineries. Specifically, the paper poses the following research questions: can the creation of public goods (i.e. multifunctionality) open up new paths of value creation for wineries? And if so, can multifunctionality be only compensated through policy instruments? Or, is there a form of market compensation?Design/methodology/approachAn empirical analysis was carried out on selected wineries that sell directly. The study implemented the “value portfolio” model that identifies specific variables, both internal and external to the farm, which contribute to the value creation. The methodology adopted is a structural equation modeling (SEM) approach that offers a theoretical basis for developing an understanding of the relationships between group of variables.FindingsThe empirical analysis confirms the assumptions developed. Indeed, the localized public goods generated by multifunctional farms can benefit from compensation on the market through the direct sale of products and services.Originality/valueThe study’s findings are quite innovative in the field of agricultural economics and open the way for interesting policy implications.

Sign in / Sign up

Export Citation Format

Share Document