scholarly journals Diversification and Property Control Impact on the Performance of Brazilian REITs

2020 ◽  
Vol 8 (1) ◽  
pp. 5-20
Author(s):  
Adriana Bruscato Bortoluzzo ◽  
Antonio Reis Silva Neto ◽  
Maurício Mesquita Bortoluzzo
Keyword(s):  
Conflicts Of Interest ◽  
Management Strategies ◽  
Corporate Structure ◽  
Improve Performance ◽  
Real Estate Investment ◽  
Full Control ◽  
Property Type ◽  
Target Performance ◽  
Property Control ◽  
Control Management

The Brazilian Real Estate Investment Trusts (REITs) had a market capitalization of 20.2 billion dollars on July 31, 2018, and is a constantly growing market, according to the Brazilian Association of Financial and Capital Market Entities (ANBIMA). This paper seeks to analyse property-type diversification and property control management strategies in the performance of Brazilian REITs, measured by Jensen’s Alpha indicator, using a dynamic regression panel data from 110 REITs in the period between 2002 and early 2016. The results suggest that a property control strategy positively affects the performance of Brazilian REITs, indicating that trusts could improve performance by avoiding conflicts of interest with third parties, and perhaps agency problems inside the REIT’s corporate structure by having full control over its properties. When excluding mortgage REITs from the sample, the property-type diversification also presents a positive and statistical relevant impact on performance, surpassing the impacts of a focused strategy. Finally, it is noted that the performance of Brazilian REITs have high persistence, which indicates that managers seek to achieve a target performance and maintain this performance over time.

scholarly journals АДАПТИВНИЙ МОНІТОРИНГ СТРАТЕГІЙ ФОРМУВАННЯ АНТИКРИЗОВОГО ПОТЕНЦІАЛУ

2019 ◽  
Vol 131 (1) ◽  
pp. 39-48
Author(s):  
Сергій Олегович Ареф’єв
Keyword(s):  
Adaptive Management ◽  
Environmental Sustainability ◽  
Management Practices ◽  
Raw Materials ◽  
Management Strategies ◽  
Utilization Efficiency ◽  
Corporate Structure ◽  
Local Case ◽  
Adaptive Monitoring ◽  
Wide Range

The paper covers the current issues of counteraction to constantly arising crisis phenomena in the process of using the enterprise potential. For about 15 years the efforts to comply with legislation have been steadily rising, and more and more emphasis is paid to various aspects of corporate social responsibility. There is a wide range of activities, such as increasing employee awareness, creating a management system to prevent abrupt changeover, a solid corporate structure and timely disclosure of information, as well as managing the organization as an integration of its potentials. Adaptive monitoring is viewed as a critical component in finding and controlling the reserves for further utilization of enterprise resources in the context of developing its long-term strategies. Building the subsystems for change management strategies can form the basis for creating anti-crisis potential. However, there is another barrier to the process of adaptation which is a vulnerable internal environment. Apparently, the goals of the chosen strategies in each of the business areas are not always announced, and this can increase the entropy level within the enterprise, creating threats and hazards that give rise to crisis phenomena. From a dynamic perception, adaptive management concept involves the construction of a decomposition of its possible implementation scenarios subject to the type of threats to enterprise performance and characteristics of its potentials. The search for the development models that can retain the enterprise resources is a fundamental challenge for its operation in the future. It is about facilitating the transition from product economy to the system economy, from a dissipative approach to resources to an adaptive management practices, to a cultural leap towards economic and environmental sustainability that should affect the entire society, from strengthening of the territory and cooperation among all stakeholders to gain the resource utilization efficiency beyond renewable energy, starting with raw materials and local waste management to create an integrated technology network and from a number of integrated technologies, from deindustrialized territories reconstruction towards new relationships between agriculture, industry and academia, conducting local case studies to test the effects of innovations, thus boosting the process of transforming the research results into new pilot projects.

Managing Family-Related Conflicts in Family Businesses: A Review and Research Agenda

2019 ◽  
Vol 33 (1) ◽  
pp. 90-113 ◽  
Author(s):  
Hong Qiu ◽  
Mark Freel
Keyword(s):  
Conflict Management ◽  
Family Business ◽  
Research Agenda ◽  
Conflicts Of Interest ◽  
Management Strategies ◽  
Family Businesses ◽  
Third Party ◽  
Third Party Intervention ◽  
Work Family ◽  
Conflict Research

This review examines how family businesses manage family-related conflicts that occur at three interfaces: family-business, family-ownership, and family-business-ownership. We find that work-family conflicts, conflicts of interest, and relationship conflicts are prevalent family-related conflicts. Four conflict management strategies are frequently used to deal with these conflicts: vacillation, domination, separation, and third-party intervention. The popularity of these strategies is influenced by some unique characteristics of family businesses, such as high emotional attachment among family members. By integrating insights from the broader conflict research, paradox and dialectic studies, we develop a research agenda targeted at better connecting family-related conflicts to conflict management strategies.

STRATEGIC RISK MANAGEMENT STRATEGIES AND THE GROWTH OF MICROFINANCE SECTOR IN KENYA

2017 ◽  
Vol 2 (2) ◽  
pp. 17
Author(s):  
Dr. James Rurigi Njuguna ◽  
Prof. Roselyn Gakure ◽  
Dr. Anthony Gichuhi Waititu ◽  
Dr. Paul Katuse
Keyword(s):  
Risk Management ◽  
Conflicts Of Interest ◽  
Management Strategies ◽  
Independent Directors ◽  
Board Members ◽  
Full Disclosure ◽  
Strategic Risk ◽  
Study Results ◽  
Risk Management Strategies ◽  
Strategic Risk Management

Purpose: The purpose of this study was to establish how strategic risk management strategies contribute to growth of MFI sector in KenyaMethodology: The study adopted a correlation survey research design. The population of this study was fifty seven (57) MFIs. The sampling frame was the list of MFIs provided in the AMFI website www.amfikenya.com. A sample of thirteen (17) MFIs was selected using the random sampling approach. A questionnaire and an interview schedule were the main data collection tools. Qualitative data was analyzed using content analysis whereas the quantitative data was analysed using Statistical Package for Social Sciences (SPSS) where descriptive and regression analysis were conducted to determine the relationship between enterprise risk management strategies and growth of MFIs.Findings: The findings indicated that there were several strategic management measures that had been put in place by MFI to promote growth. These included the existence of a board with the skills and ability to lead the MFI strategically. In addition, the board members roles extended beyond governance and into management of the MFI and the board had policies stipulating term limits and rotation for its members. Results further indicated that the board had adequate independent directors who agreed on the MFIs mission and strategic direction. The results revealed that the MFI had guidelines for preventing conflicts of interest among board members and the MFI guidelines prohibited related-party (insider) lending, required full disclosure of all conflicts of interest, and required arm’s length business transactions. Findings further indicated that the MFI’s organizational structure ensured staff accountability and enhanced MFI’s efficiency and productivity. Overall, regression results indicated that there was a positive relationship between strategic risk management strategies and MFI growth.Unique contribution to theory, practice and policy: Following the study results, it was recommended that the MFIs need to enhance effectiveness of strategic risk management practices such as adherence to best practices on corporate governance. In addition, the MFIs need to enhance the skills of the board members as doing so would improve the level of strategic risk management practice. The study recommended that those MFIs that had not implemented the guidelines for preventing conflicts of interest among board members are advised to do so as this may have an impact on the level of growth. It is recommended that MFIs need to put in place guidelines prohibiting related party (insider trading) and also require full disclosure of all conflicts of interest as doing so would improve the growth of the MFI.  Furthermore, MFIs need to increase the number of independent directors in their boards as doing so would improve the growth of the MFIs.

scholarly journals Real Estate Investment Trusts’ (REITs) Asset Management Strategies Within Global REIT Portfolios

2021 ◽  
Vol 29 (1) ◽  
pp. 72-86
Author(s):  
Yasmin Mohd. Adnan ◽  
Normala Lamin ◽  
Muhammad Najib Razali ◽  
Rohaya Abdul Jalil ◽  
Zulkifli Esha
Keyword(s):  
Asset Management ◽  
Best Practice ◽  
Management Strategies ◽  
Developed Countries ◽  
The United States ◽  
Real Estate Investment ◽  
Analysis Techniques ◽  
Sustainable Performance ◽  
Management Perspective ◽  
The Stability

Abstract Investment in REITs has become significant in recent years due to the stability and sustainable performance of the investment. A study on the management perspective is very important but this perspective is very limited. Asset management will derive from the profit optimization of the investment. Therefore, it is important to assess asset management strategies to ensure the sustainable performance of the assets. This paper aims to assess asset management strategies among matured REIT companies in developed countries in comparison with Malaysian REIT companies from the perspective of the managers. This research employed qualitative analyses by using content analysis techniques. A total of 41 REIT companies from the United States (US), Japan, Singapore, Australia and Malaysia were assessed. The analyses focused on the similarities and differences between the strategy framework identified in the literature review and the strategies adopted by global REITs and Malaysian REITs under review. The study will enable all REIT stakeholders to become well-informed on global REIT asset management that will derive the maximum profit from the investment. The success of developed countries’ REITs will provide guidelines for Malaysian REITs to adopt the best practice of strategic asset management from REITs in mature markets. Furthermore, this study is one of few papers that have discussed the issue of strategic property investment, particularly focusing on REITs.

scholarly journals Financial and Non-financial Conflicts of Interest Among the Japanese Government Advisory Board Members Concerning Coronavirus Disease 2019

2021 ◽  
Author(s):  
Hanano Mamada ◽  
Anju Murayama ◽  
Akihiko Ozaki ◽  
Takanao Hashimoto ◽  
Hiroaki Saito ◽  
...  
Keyword(s):  
Conflicts Of Interest ◽  
Management Strategies ◽  
Advisory Board ◽  
Japanese Government ◽  
Board Members ◽  
Pharmaceutical Companies ◽  
Public Disclosure ◽  
Average Value ◽  
Advisory Boards ◽  
The Government

AbstractObjectivesThis study aimed to assess the extent of conflicts of interest among the Japanese government COVID-19 advisory board members and elucidate the accuracy of conflicts of interest (COI) disclosure and management strategies.MethodsUsing the payment data from all 79 pharmaceutical companies in Japan between 2017 and 2018 and direct research grants from the Japanese government between 2019 and 2020, we evaluated the extent of financial and non-financial COI among all 20 Japanese government COVID-19 advisory board members.ResultsJapanese government COVID-19 advisory board members were predominantly male (75.0%) and physicians (50.0%). Between 2019 and 2020, two members (10.0%) received a total of $819,244 in government research funding. Another five members (25.0%) received $419,725 in payments, including $223,183 in personal fees, from 28 pharmaceutical companies between 2017 and 2018. The average value of the pharmaceutical payments was $20,986 (standard deviation: $81,762). Further, neither the Ministry of Health, Labor, and Welfare nor the Japanese Cabinet Secretariat disclosed financial or non-financial COI with industry. Further, the government and had no policies for managing COI among advisory board members.ConclusionsThis study found that the Japanese government COVID-19 advisory board had financial and non-financial COI with pharmaceutical companies and the government. Further, there were no rigorous COI management strategies for the COVID-19 advisory board members. Any government must ensure the independence of scientific advisory boards by implementing more rigorous and transparent management strategies that require the declaration and public disclosure of all COI.

scholarly journals Groundwater Modelling in Urban Development to Achieve Sustainability of Groundwater Resources: A Case Study of Semarang City, Indonesia

Water ◽  
2021 ◽  
Vol 13 (10) ◽  
pp. 1395
Author(s):  
Weicheng Lo ◽  
Sanidhya Nika Purnomo ◽  
Dwi Sarah ◽  
Sokhwatul Aghnia ◽  
Probo Hardini
Keyword(s):  
Groundwater Modeling ◽  
Groundwater Resources ◽  
Management Strategies ◽  
Production Capacity ◽  
Transient State ◽  
Deep Wells ◽  
Temporal And Spatial ◽  
Observation Wells ◽  
Control Management

Since 1900, Semarang City has been meeting its industrial water needs by pumping groundwater through its underlying aquifers. The trend toward exploiting groundwater resources has driven the number of deep wells and their production capacity to increase, and therefore leads to the water table to drop from time to time, which has been marked as one of the primary causes of land subsidence there. The main aim of the current study was to numerically model the temporal and spatial evolution of groundwater table under excess abstraction so that a groundwater management strategy can be accordingly drawn up for ensuing the sustainability of groundwater resources in the future. A series of numerical simulations were carried out to take into account hydrogeological data, artificial and natural discharges of deep wells, and boundary effects in Semarang City. The groundwater modeling is calibrated under two flow conditions of the steady state from 1970 to 1990 and the transient state from 1990 to 2005 for six observation wells distributed in Semarang City. Four scenarios that reflect potential management strategies were developed, and then their effectiveness was systematically investigated. The results of our study indicate that the implementation of proper groundwater control management and measure is able to restore the groundwater level to rise back in Semarang City, and in turn achieve the sustainability of groundwater resources.

COVID19: Preventive and Protective Control Management Strategies

2021 ◽  
pp. 32-62
Author(s):  
Kalyani Pathak ◽  
Manash Pratim Pathak ◽  
Urvashee Gogoi ◽  
Riya Saikia ◽  
Aparoop Das
Keyword(s):  
Management Strategies ◽  
Control Management

Outcome of Saddle Pulmonary Embolism: A Nested Case-Control Study.

Blood ◽  
2010 ◽  
Vol 116 (21) ◽  
pp. 1102-1102
Author(s):  
Gauruv Bose ◽  
Esteban Gandara ◽  
Marc Carrier ◽  
Petra MG Erkens ◽  
Marc Rodger ◽  
...  
Keyword(s):  
Blood Pressure ◽  
Pulmonary Embolism ◽  
Systolic Blood Pressure ◽  
Conflicts Of Interest ◽  
Management Strategies ◽  
Pulmonary Arteries ◽  
Pulmonary Angiography ◽  
Control Group ◽  
P Value ◽  
Case Group

Abstract Abstract 1102 Introduction: The management of saddle pulmonary embolism (PE) is controversial. Evidence about outcomes and management strategies is scarce in the literature due to the small prevalence of saddle PE. Historically it has been recommended that this group of patients should be treated aggressively. Purpose: To determine the prevalence and outcomes of patients diagnosed with saddle PE. Methods: Retrospective cohort study of consecutive patients with saddle PE diagnosed at the Ottawa Hospital between January 2007 and December 2008. Patients were included if a thrombus was present on computed tomographic pulmonary angiography (CTPA) in the main pulmonary arteries spanning the bifurcation of the main pulmonary trunk. These cases were each matched with two non-saddle controls with proximal PE (thromboemboli in the main pulmonary arteries) based on age, sex, systolic blood pressure greater than or less than 90 mmHg, and the presence or absence of cancer. Demographics, prognostic factors, treatment, and outcomes were collected. Patients were followed over a 30 day period following the diagnosis. RESULTS: A total of 32 (5%) of 724 patients with PE had a saddle event. Baseline characteristics are depicted in Table 1. Differences between the saddle case group and non-saddle control group include the presence of right ventricular dilation (59% of saddle cases vs. 22% of controls, p-value: 0.0007) and in the proportion of patients managed as outpatients (7% of saddle cases vs. 33% of controls, p-value: 0.02). At 30 days no differences were found in patients with saddle PE or proximal PE for all cause mortality (6% vs. 10%; OR: 0.64; 95% CI: 0.08–3.2), PE related mortality (0% vs. 6%; OR: 0.52; 95% CI: 0.01–6.1), major bleeding (3% vs. 5%; OR: 0.65; 95% CI: 0.02–6.4), or recurrent venous thromboembolism (6% vs. 10%; OR: 0.64; 95% CI: 0.08–3.2). Conclusions: Patients with saddle PE do not have a worse 30-day prognosis than patients with proximal PE matched by age, sex, systolic blood pressure, and presence of cancer. Disclosures: No relevant conflicts of interest to declare.

A luxury brand management framework built from historical review and case study analysis

2015 ◽  
Vol 43 (10/11) ◽  
pp. 1083-1100 ◽  
Author(s):  
RayeCarol Cavender ◽  
Doris H. Kincade
Keyword(s):  
Brand Management ◽  
Management Strategies ◽  
Historical Review ◽  
Business Environment ◽  
Fashion Industry ◽  
Corporate Structure ◽  
Content Type ◽  
Luxury Brand ◽  
Luxury Industry

Purpose – The purpose of this paper is to develop a luxury brand management (LBM) framework that accounts for the changing luxury environment (i.e. heterogeneous consumer populations, operations within markets of varying maturity, need for seamless customer experiences, and Omni-channel retailing). Framework set within this new luxury business environment and environmental phenomena unique to the fashion industry (i.e. fashion adoption, zeitgeist). Design/methodology/approach – Case study of leading luxury conglomerate, Louis Vuitton Möet Hennessy (LVMH), combined with in-depth historical review of luxury industry. Primary and secondary data sources yielded thick descriptions of brands in LVMH portfolio and larger luxury industry, in which conglomerate is the predominant organizational structure. Content analysis of data-tracked relationships and emergent patterns. Recontextualization techniques were employed to identify key dimensions of brand management operations for sample company and further explicated indicators, sub-variables, and measurements. Macro and micro dimensions were combined for the final framework. Findings – Findings revealed a LBM framework with specific dimensions at the micro or company level that are combined with variables and indicators in the macro-business environment. Strategic management response was also identified as a tool companies can use to synthesize brand management strategies throughout company and remain adaptive to environment. Originality/value – Contributes to company-based luxury research. Holistic findings; framework was constructed from the micro-company level within a macro-environmental context, increasing its relevancy for firms. Potential to be employed in strategic brand management decisions of luxury companies, regardless of their corporate structure, size, or age.

scholarly journals The effect of marine closures on a feedback control management strategy used in a spatially aggregated stock assessment: a case study based on pink ling in Australia

2017 ◽  
Vol 74 (11) ◽  
pp. 1960-1973 ◽  
Author(s):  
André E. Punt ◽  
Malcolm Haddon ◽  
L. Richard Little ◽  
Geoffrey N. Tuck
Keyword(s):  
Feedback Control ◽  
Reference Point ◽  
Management Strategy ◽  
Stock Assessment ◽  
Management Strategies ◽  
Target Level ◽  
Operating Model ◽  
Stock Size ◽  
Control Management

Simulation is used to explore the effect of spatial heterogeneity and spatial closures on the ability of feedback-control management strategies to achieve goals relating to conservation and utilization of fishery resources. The operating model underlying the projections is based on pink ling, Genypterus blacodes, off southern Australia and assumes that animals are sedentary following settlement. The management strategies are able to move the resource towards the target level in the absence of spatial closures even though assessment results are biased. The probability of reducing the stock below its limit reference point is higher when growth rates vary spatially, but the effect is small. The probability of the stock being above its target reference point is lower when one of the smaller spatial areas is closed. However, performance is markedly different when a larger fraction of the total area is closed, with stock size being substantially larger than the target at the end of the projection period.

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