scholarly journals Managed Informality: Regulating Street Vendors in Bangkok

2016 ◽  
Vol 15 (1) ◽  
pp. 29-43 ◽  
Author(s):  
Quentin Batréau ◽  
Francois Bonnet
Keyword(s):  
Real Estate ◽  
Empirical Evidence ◽  
Legal System ◽  
Political System ◽  
Commercial Real Estate ◽  
Local Authorities ◽  
Street Vendors ◽  
Street Vending ◽  
The Relationship ◽  
District Administration

The article focuses on the relationship between street vendors and local authorities in Bangkok. We examine the goals, the means, and the effects of everyday regulation of street vending. We document how the district administration produces and maintains informality by creating a parallel set of rules where street vendors enjoy negligible rents and little competition. We provide detailed empirical evidence on earnings, rents, fines, and rules regarding commercial real estate. The district administration's policy of “managed informality” results in a situation where more established informal vendors control less established ones. We hypothesize in the conclusion that the district administration's parallel legal system adjusts to the population's expectations in a political system where the law has little popular support.

scholarly journals The Relationship between Risk and Return - An Empirical Evidence from Real Estate Stocks Listed in Vietnam

2019 ◽  
Vol 9 (11) ◽  
pp. 1211-1226
Author(s):  
Phan Tran Minh Hung ◽  
Tran Thi Trang Dai ◽  
Phan Nguyen Bao Quynh ◽  
Le Duc Toan ◽  
Vo Hoang Diem Trinh
Keyword(s):  
Real Estate ◽  
Empirical Evidence ◽  
Risk And Return ◽  
The Relationship

Voters reward hard-working MPs: empirical evidence from the French legislative elections

2019 ◽  
Vol 11 (4) ◽  
pp. 469-483 ◽  
Author(s):  
Abel François ◽  
Julien Navarro
Keyword(s):  
Empirical Evidence ◽  
Political System ◽  
Presidential Elections ◽  
Electoral System ◽  
Vote Share ◽  
Legislative Elections ◽  
National Assembly ◽  
The Impact ◽  
The Relationship ◽  
Legislative Election

AbstractThis paper studies the relationship between incumbent MPs’ activities and their electoral fortune. We address this question in the context of the French political system characterized by an executive domination, a candidate-centered electoral system, and an electoral schedule maximizing the impact of the presidential elections. Given the contradictory influence of these three institutional features on the relationship between MPs’ activities and electoral results, the overall link can only be assessed empirically. We test the effects of several measurements of MPs’ activities on both their vote share and reelection probability in the 2007 legislative election. We show that MPs’ activities are differently correlated to both the incumbents’ vote shares in the first round and their reelection. Despite the weakness of the French National Assembly, several parliamentary activities, especially bill initiation, have a significant effect on MPs’ electoral prospects.

Bureaucratic Power and Public Policies: A Test of the Rational Staff Maximization Hypothesis

1987 ◽  
Vol 35 (1) ◽  
pp. 79-104 ◽  
Author(s):  
George A. Boyne
Keyword(s):  
Statistical Analysis ◽  
Public Sector ◽  
Political System ◽  
Party Politics ◽  
Local Authorities ◽  
Goods And Services ◽  
Bureaucratic Power ◽  
Time Periods ◽  
The Relationship ◽  
Local Party

This paper tests the staff maximization hypothesis that bureaucratic power is positively related to labour inputs to the production of public sector goods and services. The context of the test is the staffing policies of three groups of British local authorities in three time periods. The relationship between bureaucratic power and changes in authorities' staff is estimated while controlling for the influence of local party politics, central grants and conditions in the environment of the local political system. The results of the statistical analysis refute the staff maximization hypothesis.

scholarly journals POLICING PEDDLERS: THE PROSECUTION OF ILLEGAL STREET TRADE IN EIGHTEENTH-CENTURY DUTCH TOWNS

2015 ◽  
Vol 58 (2) ◽  
pp. 367-392 ◽  
Author(s):  
DANIELLE VAN DEN HEUVEL
Keyword(s):  
Eighteenth Century ◽  
Early Modern ◽  
Informal Economy ◽  
Local Power ◽  
Early Modern Europe ◽  
Street Vendors ◽  
Street Vending ◽  
The Impact ◽  
The Relationship ◽  
Source Materials

AbstractStreet vending was a common feature in many towns in early modern Europe. However, peddlers and hawkers often operated outside the official framework, lacking permission from governments and guilds. The impact of their informal status has hitherto not featured very extensively in historical studies. This article assesses the impact of policing of street vendors by looking at familiar source materials in a new way. Rather than solely focusing on those people who were ultimately punished, this article investigates the full process of policing and prosecution of street traders in eighteenth-century Dutch towns. It exposes that apart from those receiving a formal punishment, many more traders could suffer from policing activities, and that particular groups of street vendors were more vulnerable than others due to the specific dynamics of local power relations. As such, this article provides new insights into policing and social control, while also offering wider lessons for our understanding of the relationship between the formal and informal economy in pre-industrial Europe.

Cognitive bias, intuitive attributes and investment decision quality in commercial real estate in Uganda

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Moses Munyami Kinatta ◽  
Twaha Kigongo Kaawaase ◽  
John C. Munene ◽  
Isaac Nkote ◽  
Stephen Korutaro Nkundabanyanga
Keyword(s):  
Real Estate ◽  
Loss Aversion ◽  
Cognitive Bias ◽  
Investment Decision ◽  
Commercial Real Estate ◽  
Decision Quality ◽  
Content Type ◽  
Real Estate Sector ◽  
Confidence Degree ◽  
The Relationship

PurposeThis study examines the relationship between investor cognitive bias, investor intuitive attributes and investment decision quality in commercial real estate in Uganda.Design/methodology/approachA cross-sectional research survey was used in this study, and data were collected from 200 investors of commercial real estate in Uganda using a structured questionnaire. Hierarchical regression analysis was used to test the hypotheses derived under this study.FindingsThe results indicate that investor cognitive bias and investor intuitive attributes are positive and significant determinants of investment decision quality in commercial real estate. In addition, the two components of Investor cognitive bias (framing variation and cognitive heuristics) are positive and significant determinants of investment decision quality, whereas mental accounting is a negative and significant determinant of investment decision quality. For investor intuitive attributes, confidence degree and loss aversion are positive and significant determinants of investment decision quality, whereas herding behavior is a negative and significant determinant of investment decision quality in commercial real estate in Uganda.Practical implicationsFor practitioners in commercial real estate sector should emphasize independent evaluation of investment opportunities (framing variation), simplify information regarding investments (Cognitive heuristics), believe in own abilities (Confidence degree), be risk averse (loss aversion) and avoid making decisions based on subjective visual mind (mental accounting) and group think/herding in order to make quality investment decisions. For policymakers, the study has illuminated factors such as provision of reliable information that ought to be taken into account when promulgating policies for regulation of the commercial real estate sector. This will help investors to come up with investment decisions which are plausible.Originality/valueFew studies have focused on investor cognitive bias and investor intuitive attributes on investment decision quality in commercial real estate. This study is the first to examine the relationship, especially in the commercial real estate sector in a developing country like Uganda.

scholarly journals Occupier satisfaction and its impact on investment returns from UK commercial real estate

2017 ◽  
Vol 35 (2) ◽  
pp. 135-159 ◽  
Author(s):  
Danielle Claire Sanderson ◽  
Steven Devaney
Keyword(s):  
Real Estate ◽  
Financial Performance ◽  
Customer Service ◽  
Positive Relationship ◽  
Global Financial Crisis ◽  
Commercial Real Estate ◽  
Property Management ◽  
Management Service ◽  
Content Type ◽  
The Relationship

Purpose The purpose of this paper is to investigate the relationship between occupiers’ satisfaction with the property management service they receive and the financial performance of commercial real estate. Design/methodology/approach The study uses occupier satisfaction data for 240 UK commercial properties collected over a 12-year period and the annual total returns achieved by those properties. Various statistical techniques are employed to assess whether increasing occupier satisfaction leads to greater returns for investors. These include comparing excess returns and risk-adjusted returns with occupier satisfaction at each property to assess whether superior property management generates outperformance (“positive alpha”). The study also investigates whether the relationship between occupier satisfaction and returns is the same across all sectors and whether it is affected by market conditions. Findings A positive correspondence is found between benchmark outperformance and occupier satisfaction. The relationship is similar for all sectors of commercial property and is particularly strong during the Global Financial Crisis, indicating that paying attention to satisfying the needs of occupiers has particular benefits during periods when the supply of commercial real estate exceeds demand. Research limitations/implications The sample of properties was restricted to those for which occupier satisfaction data had been collected by RealService Ltd and whose owners permitted access to the financial performance results. This meant that the properties belong to only three landlords, all UK REITs that care sufficiently about occupier satisfaction to commission studies. Thus the findings might not apply to all commercial properties. The mechanism by which the positive relationship between satisfaction and financial performance occurs is not tested, but the conventional mechanisms of reputation and customer loyalty (the “service-profit chain”) are discussed. Practical implications The findings suggest that it is worthwhile for landlords, or property managers acting on their behalf, to understand the needs of their occupiers in order to deliver the level of service that those occupiers desire. Leases in the UK are generally “triple net” and the total returns used for this analysis are net of property management costs, so the positive relationship between satisfaction and performance is not the result of economising on service delivery. A further implication is that valuers should take more account of occupier satisfaction when assessing the capital value of a property, from which total returns are assessed. Originality/value Demonstrating the links between customer service, customer satisfaction and business profitability is rarely attempted because of the many confounding factors that affect profitability. UK listed real estate companies are typically reluctant to reveal the financial performance of individual properties, and information about occupiers’ satisfaction is not generally available. The authors were fortunate to be granted access to a time series of such data, and to be able to demonstrate that attention to delivering a property management service that satisfies occupiers is likely to bring financial rewards to the owners of the property.

scholarly journals International Real Estate Review

2001 ◽  
Vol 4 (1) ◽  
pp. 26-42
Author(s):  
Simon Stevenson ◽  
Keyword(s):  
Real Estate ◽  
Empirical Evidence ◽  
Strong Evidence ◽  
Positive Relationship ◽  
International Markets ◽  
Equity Market ◽  
The Other ◽  
Real Estate Securities ◽  
The Relationship ◽  
Minimal Evidence

This study re-examines the relationship between real estate securities and inflation in a total of ten international markets. In addition to the raw data, both the orthogonalized and hedged approaches were adopted in order to strip out the general impact of the domestic equity market. The results revealed that there is minimal evidence of a positive relationship between real estate securities and inflation, which is in line with existing empirical evidence. However, the strong evidence of perverse relationship, noted in previous studies of REITs, is not robust throughout the other nine markets. The hedged and orthogonalized data also provided minimal evidence in favour of a positive relationship, both in the short and long terms.

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