scholarly journals Impact of functional interdependency on employee satisfaction with performance appraisal in the real estate industry

2020 ◽  
Vol 18 (4) ◽  
pp. 213-227
Author(s):  
Elangovan N. ◽  
Sridhar Rajendran
Keyword(s):  
Real Estate ◽  
Organizational Justice ◽  
Performance Appraisal ◽  
Negative Impact ◽  
Mediating Effect ◽  
Appraisal System ◽  
The Real ◽  
The Real Estate ◽  
Appraisal Systems ◽  
Hr Managers

Unbiased performance appraisal tends to bolster the performance of employees. The studies indicate several inadequacies with the current performance appraisal systems. Functional interdependence is one such factor that has been ignored. The study aims to find the factors that can improve the satisfaction with performance appraisal of employees whose deliverables are highly interdependent on other functions. Organizational justice, rater competence, inter-functional conflict, and cohesion are considered the mediating variables. To test the model, the data are collected through a survey using a questionnaire from the executives of Indian real estate companies who have undergone the appraisal process at least once. Firms with more than 500 employees are randomly selected for the list of members of the real estate developers’ associations. The results show that functional interdependency has a negative impact on satisfaction with performance appraisal. Although conflict and cohesion are found to influence satisfaction with performance appraisal, they did not mediate the effect of functional interdependency on satisfaction with performance appraisal. However, the study found that rater competence and organizational justice have a mediating effect. The study provides practical implications to HR managers of real estate companies to train the raters and include the complexities of functional interdependencies in the appraisal system. A grievance mechanism should be created to address the employees’ concerns, ultimately improving satisfaction with performance appraisal.

scholarly journals Perception and its Impact on Satisfaction on Performance Appraisal in Real Estate Industry in South India

2019 ◽  
Vol 8 (S1) ◽  
pp. 60-63
Author(s):  
R. Sridhar ◽  
N. Elangovan
Keyword(s):  
Real Estate ◽  
Performance Appraisal ◽  
Small Time ◽  
Real Estate Industry ◽  
Appraisal System ◽  
The Real ◽  
The Real Estate ◽  
Organizational Role ◽  
Doing Business ◽  
Performance Appraisal System

Traditionally, real estate industry is managed by small time entrepreneurs and considered as unorganized industry. However, in the last few decades, the real estate industry has become organized sector with many corporate houses started doing business and offering employment to millions. Like any other organized industry, Real estate industry too started practicing performance appraisal to reward their employees and to align their goal with the organization. The nature of the business allows the organizations in Real Estate industry to have diversified work groups. Thus, organization’s role on implementing better performance appraisal system becomes inevitable. This study aims at identifying the perception of the real estate employees on performance appraisal system, organizational role in educating the employee on performance appraisal system and their impact on the satisfaction of the employee on the performance appraisal system practiced in Real Estate companies

Shuffling through the Bargain Bin: Real-Estate Holdings of Public Firms*

2019 ◽  
Vol 24 (3) ◽  
pp. 647-675 ◽  
Author(s):  
Irem Demirci ◽  
Umit G Gurun ◽  
Erkan Yönder
Keyword(s):  
Real Estate ◽  
Financial Distress ◽  
Negative Impact ◽  
The Real ◽  
Public Firms ◽  
The Real Estate ◽  
Distressed Firms ◽  
The Cost ◽  
Real Estate Assets ◽  
Industry Peers

Abstract Constructing a novel database on the real-estate holdings of public firms, we show that distressed firms sell their real-estate assets at a discount relative to healthy firms. We find that distress discount in real-estate assets is less pronounced for sellers with less liquidity-constrained industry peers and in machinery-heavy industries. We also document that asset redeployability and the availability of potential buyers are two important property-specific determinants of the distress discount. Additionally, firms’ property portfolios that are less redeployable with less potential buyers exacerbate the negative impact of financial distress on the cost of borrowing.

scholarly journals Empirical Testing of the Impact of Gender and Marital Status on the Price and Trend of Urban Real Estate – Evidence from Provincial Panel Data of China

2018 ◽  
Vol 10 (7) ◽  
pp. 38
Author(s):  
Min Tan ◽  
Yajie Bai
Keyword(s):  
Panel Data ◽  
Real Estate ◽  
Marital Status ◽  
Negative Impact ◽  
Data Set ◽  
The Real ◽  
The Real Estate ◽  
Empirical Results ◽  
Real Estate Price ◽  
The Impact

This paper investigates the impact of demographic structure, especially gender and marital status, on the price of regional real estate. This paper utilizes controlled-heteroskedasticity fixed-effect model for the empirical tests based on a panel data set of 30 Chinese provinces from 2011 to 2015. Empirical results show that the gender ratio in the provincial panel data does have a significant negative impact on the regional real estate prices, which implies that when the number of women in a region increases, the real estate price in this region tends to rise. The impact of marital status on the real estate price is not significant according to empirical results.

scholarly journals Foreign experience of real estate mass appraisal

2021 ◽  
pp. 3-12
Author(s):  
M.I. Bondar ◽  
А.A. Kulyk
Keyword(s):  
Real Estate ◽  
Information Needs ◽  
The United States ◽  
Real Estate Market ◽  
Local Market ◽  
Appraisal System ◽  
Accounting Systems ◽  
The Real Estate ◽  
Foreign Experience ◽  
Appraisal Systems

The article examines foreign experience in the formation and functioning of mass assessment systems on the example of individual countries. The sample of countries, on the one hand, includes the United States and Sweden as countries where the mass appraisal system has been successfully functioning for decades, and on the other hand, Lithuania, Slovenia, Belarus and Poland, where the formation of a mass appraisal system began only in the late 20th – early 21st centuries. The article covers a comparative analysis and generalization of key aspects of mass appraisal systems of selected countries such as legislative regulation of mass appraisal, administration of the mass appraisal process in the context of the division of functions and powers between key entities, accounting and analysis of input information on the economic and physical-technical characteristics of real estate objects, the use of appraisal approaches and methods for evaluating certain types of real estate, etc. As the world experience shows, the models and procedures of mass appraisal form the basis of modern value-based systems of real estate taxation, since they allow to effectively solving the problems of simultaneously evaluating a large number of objects in conditions of limited time and financial resources. That is why the results of the mass appraisal are primarily used for tax purposes, in particular, to determine the tax base for real estate tax. In some countries, the results of mass appraisal are additionally used in banking and insurance activities, as well as for the purpose of accounting and taxation of real estate in inheritance or donation, etc. Based on the analysis of foreign experience, the article discusses the problems and prospects of introducing a mass appraisal system in Ukraine, in particular, the emphasis is on the lack of appropriate legislative resolution, low openness and transparency of the real estate market, the inconsistency of existing real estate accounting registers with the information needs of mass appraisal, etc. Further research will be directed in the following directions. Firstly, the study of accounting systems for transactions with real estate and accounting systems for the physical-technical characteristics of real estate, corresponding to the information requests of the mass appraisal. Secondly, research of methods and models, development of mass appraisal procedures in accordance with the peculiarities of the local market using as the example the residential real estate market of one of Kyiv districts.

scholarly journals Does real estate bubble affect corporate innovation? Evidence from China

PLoS ONE ◽  
2021 ◽  
Vol 16 (9) ◽  
pp. e0257106
Author(s):  
Chen Wang ◽  
Xiaowei Ma ◽  
Hyoungsuk Lee ◽  
Zhen Chu
Keyword(s):  
Real Estate ◽  
Negative Impact ◽  
Economic Transformation ◽  
Rapid Expansion ◽  
New Combination ◽  
The Real ◽  
The Real Estate ◽  
Industrial Enterprises ◽  
Real Estate Bubble ◽  
D Investment

With the rapid increase of downward pressure on China’s economy, the stability of the property market, as an important part of the economic transformation process, also has a far-reaching impact on enterprises’ R&D investment. We select the data of Chinese large and medium-sized industrial enterprises from 1998 to 2015 as our research sample and propose a new combination measurement model based on closeness degree to measure the real estate bubble level in China accurately. The structural vector autoregressive (SVAR) theory is utilized to empirically test the dynamic relationship between the real estate bubble, corporate liquidity, and R&D investment. The results indicate that the real estate bubble level in China is increasing, and a certain risk of deviating from the safety interval in the future exists; The rapid expansion of the real estate bubble has a continuing negative impact on corporate R&D investment, that is, its "credit mitigation effect" is much smaller than the "capital relocation effect," and industrial enterprises will fall into the so-called "low-tech lock-in" state. In other words, to a certain extent, the development of this kind of real estate bubble will not be conducive to the transformation and upgradation of enterprises and long-term economic growth.

scholarly journals Transformacja w przestrzeni. Wpływ modelu deweloperskiego na urbanizację Polski po 1989 roku

2016 ◽  
pp. 177-192
Author(s):  
Łukasz Drozda
Keyword(s):  
Real Estate ◽  
Negative Impact ◽  
Living Environment ◽  
Housing Shortage ◽  
The Real ◽  
The Real Estate ◽  
Real Socialism ◽  
The Impact ◽  
Housing Estates

The article describes the impact, the meaning and the characteristics of the housing estates developed by the real estate companies in Poland after 1989 and presents possible solutions to eliminate the dysfunctions of the inhabited space, which can improve the functionality of inhabited environment. That model of housing is one of the most typical elements of the settlement network in Poland. Unknown under the real socialism when the housing development was based on public and industrial investment and the so-called socialized housing, in the later period supplemented to a greater extent by individual projects. Real estate housing has negative impact on the quality of the urbanized space and the national economy, which results in the creation of a low quality living environment. On the other hand, to some extent they solve the problem of the housing shortage caused by the ine'cient public policy in that field. The study is based on source literature and o'cial statistics on the level of housing production in the analysed period.

Sub-optimal behavioural biases and decision theory in real estate

2019 ◽  
Vol 12 (2) ◽  
pp. 330-348 ◽  
Author(s):  
Richa Pandey ◽  
V. Mary Jessica
Keyword(s):  
Real Estate ◽  
Evolutionary Psychology ◽  
Real Estate Market ◽  
Mediating Effect ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Long Time ◽  
The Relationship

Purpose The purpose of this study is to explain the relationship between behavioural biases, investment satisfaction and reinvestment intention considering the effect of evolutionary psychology. The study believes that biases are not at all times bad; sometimes, biases can assist the individual investor to select the top course of action and allow them to go for the less costly mistakes, thereby helping in achieving satisficing behaviour. Design/methodology/approach Data were collected using structured and a close-ended questionnaire from a sample of 560 respondents by using multi-stage stratified sampling method. PLS-SEM was used for preliminary validation of the questionnaire. Mediation model using the structural equation model (SEM) with the help of AMOS 20 was used for the analyses. Pre-requisite assumptions for SEM were checked by using sample characteristics. The study has three constructs with multiple items; hence, the instrument validation was done by measuring the construct validity and reliability using Cronbach’s alpha, exploratory factor analysis and confirmatory factor analysis with the help of SPSS 20 and AMOS 20. Findings The study confirms that behavioural biases influence investment decisions in the real estate market. Further, investment satisfaction is found to have a significant and complementary partial mediating effect. The positive mediating effect of investment satisfaction between behavioural biases and reinvestment intention shows that biases are natural tendencies in response to limit to learning which can be explained by evolutionary psychology. Research limitations/implications There are chances that the result obtained here is because of myopic decision-making behaviour in which the long-time horizon is not considered and behavioural biases, as well as evolutionary psychology, are adaptive, so the result may change in the long-time horizon, which seeks further investigations. The study talked about the relationship between behavioural biases, investment satisfaction and reinvestment intention; it will be interesting to bring some more constructs in this model, for example, investment intention and reinvestment behaviour; this can deliver a more precise picture in this regard. Practical implications Understanding such relationships will help in better clarity about the way investment is made. The study confirms that market behaviour in the real estate market is sub-optimal, which shows that there is an opportunity for attentive investors by trading and gathering on information. Real estate practitioners can get clues from market anomalies and investor phenomena; understanding these may suggest ways to use them in the market. Social implications Reforms in the housing sector do not only satisfy one of the basic needs but also leads to holistic economic development. Besides direct contribution, it contributes to social capital. Originality/value The study extends the current knowledge base about the relationship between behavioural biases, investment satisfaction and reinvestment intention. This study investigates the behavioural biases influencing the real estate market investment decisions of non-professional investors considering the effect of evolutionary psychology.

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