Property development activities: value creation or distraction for REITs?

PurposeThis paper examines the evolution and impact of property development activities on REIT performance. The paper provides insights on whether REITs should venture into property development in addition to their core-business of holding income producing properties.Design/methodology/approachThis paper charts and highlights the evolution of development activities of US REITs from 1992 to 2020. The Tobin's Q of property developing REITs and non-property developing REITs are compared using univariate analysis.FindingsDevelopment activities of US REITs grew dramatically during the run up to global financial crisis (GFC) in 2008. The level of development activities has dropped since the GFC and it has not return to its pre-crisis peak. In comparison, development activities of listed property investment companies and homebuilders are less volatile over the same period. The data reveals that property developing REITs enjoy significantly higher Tobin's Q as compared to their non-developing counterparts.Practical implicationsOur graphical evidence from a market without development restriction suggests that development restriction in other REIT regimes has it value in limit REITs' excessive risk-taking tendency during a booming property market. The positive relationship between Tobin's Q and the existence of property development activity support the value creation of this business activity to REITs.Originality/valueThis paper raises overbuilding as a potential cause of the underperformance of the REIT sector during the GFC.

Factors That Enable or Hinder the Implementation of Game Development Activity in Learning Environments

This study aims to investigate the factors that enable or hinder the implementation of game development activity in the instructional process. One instructor and 15 gifted students between the ages of 11 and 15 took part in the study. The students developed computer games related to science topics using MS Kodu game engine within the implementation process. According to the findings, it is seen that instructional practices have great importance, and the instructor plays a key role in the activity. Making and playing games have been the greatest motivation resource for students. In addition, the social environment can be an important tool in sustaining students' motivation levels. The students' negative attitudes toward educational game topics and non-computer activities hinder the successful implementation of the activity. The MS Kodu game engine might be appropriate for novice designers but not be enough for teaching programming concepts. Team-based game development activity is believed to be useful for developing advanced games and increasing the level of interaction between students.

Interviews with Global Pharmacists and Healthcare Professionals in Great Britain to Establish Personal Experiences around Professional Development Activity

Professional development activity is needed to ensure practitioners are up to date and providing optimal patient care. This includes, but is not restricted to, mandatory continuing professional development (CPD) or continuing education (CE) requirements, which differ by professions globally and within countries. This study aimed to investigate perceptions, participation, and individual practice for healthcare professionals in Great Britain (GB) and pharmacists globally to identify similarities and differences after the introduction of revalidation for pharmacists in GB. Qualitative data was received through interviews, which was analysed using content analysis. In total, 24 interviews were completed with pharmacists registered globally, and healthcare professionals registered in GB. A culture of CPD was seen for healthcare professionals in GB and globally for pharmacists; there was no consistent model. Face-to-face activity was common, with an increase in online provision, especially where large geographies were seen. Most learning was completed in the professional’s own time. Multiple providers were seen, with the evaluation of events using questionnaires being commonplace. Different formats of learning were useful for different topics, with skills learning being better when face-to-face. Although varied requirements were in place, regulation should support patient-based practice outcomes. This study showed that commitment to learning was similar in different professions in GB and by pharmacists globally, with similar benefits and challenges.

The ISO/IEC 29110 Software Lifecycle Standard for Very Small Companies

For many small and start-up software companies, implementing controls and structures to properly manage their software development activity is a major challenge. It is commonly agreed that very small software companies, implementing management procedures, and controls to appropriately administer their software development activity is a significant challenge. To help meet the need for VSE-specific systems and software lifecycle profiles and guidelines, the ISO/IEC jointly published ISO/IEC 29110 “Lifecycle profiles for Very Small Entities” series of standards and guides, with the overall objective being to assist and encourage very small software organization in assessing and improving their software. The purpose of this chapter is to provide a primer on the ISO/IEC 29110 standard focusing on two main process areas of Project Management and Software Implementation.

DEVELOPMENT ACTIVITY FOR HEALTH IN EDUCATION OF FUTURE TEACHER PERSONALITY IN THE HEALTHY ENVIRONMENT OF HIGH SCHOOL

The article reveals the activity for health in education of future teacher personality in the healthy environment of high school as a nature-appropriate motor activity of the future teacher; it provides development and improvement of health processes of vital activity, support and strengthening of physical, mental, social and spiritual health of the future specialist.The discipline «Sports and pedagogical improvement» is described, which provides students with a set of knowledge, skills and abilities for the development of activity for health and experience of educational and training work, which will allow to conduct classes at a high professional level in the chosen sport. Studying the discipline is a necessary component of future teacher training. To a large extent, the implementation of the proposed discipline is facilitated by practical classes, which aim to deepen the knowledge, skills and abilities of students in certain sports through the use of active methods of educational and training process. The specificity of the discipline is that the methods of the subject involve the use of classical methods, forms and means of higher school pedagogy; there is an accumulation of knowledge about the chosen sport, necessary for the development of physical qualities, increase activity, self-esteem and correction of student behavior.

Local economic development strategies to increase economic growth in agrotourism areas

This study aims to find a local economic development strategy based on agroindustry to increase Java’s agrotourism sustainable and robust local economy. The research methods used are descriptive quantitative and qualitative. Research respondents are the community, academic practitioners and government officials. The data used covers both external and internal factors that affect the local economy in an agrotourism area and which are then analyzed using SWOT. The results show that the main strength of agrotourism in the IFE matrix is its highly strategic geographical location. The weakness is the lack of planning and business development activity which could have potential economic value. In the EFE matrix, opportunities are the prospects for agrotourism development while the main threat is the community's low interest in business development. In the IE matrix, agrotourism development is found in cell V. This can be handled by maintaining strategies such as market penetration, and market and product development. The study concludes that the local economic development of the community in the agrotourism area can be implemented if the community, practitioners and government are integrated to support the strategy.

A Study on the Impact of Unconventional (and Conventional) Drilling on Housing Prices in Central Oklahoma

Shale energy development activity may benefit some aspects of a regional economy (such as increased jobs or tax revenue); however, there may also be negative impacts to the local environment, such as noise and underground water contamination. We study the impact of unconventional drilling activity on housing price in an area of the country with a long history of crude oil production. A prospective home buyer may want to avoid a place near sites that have been drilled using unconventional drill technologies such as horizontal fracturing. Adopting a hedonic price model, we estimate the impact of distance to and density of unconventional drilling on housing prices in two central counties in Oklahoma during the period 2001–2016. We also apply a semiparametric approach to deal with the possibility that the relationship between an environmental pollutant source and housing price is nonlinear. The empirical results are consistent in terms of physical housing characteristics and locational aspects in all cases, with drilling activity having only a minimal effect in benchmark models. Further, the semiparametric estimation results support the findings that drilling activity has only limited impacts on local housing prices.

Performance of village facilitators in sustainable community empowerment

This study aimed to analyze and describe the performance of village assistants in sustainable community empowerment activities in Lalonaha Village, Wolo District, Kolaka Regency. Qualitative descriptive research method. Data obtained through interviews, literature study, and observation. The data analysis stage uses the Miles and Huberman method, namely data collection, data presentation, data verification, and concluding. Based on the research results, village assistants' capability in its implementation has not optimally because there are still many priority programs that people should expect but have not implemented. Activities carried out by village assistants in terms of development implementation, development supervision, and village administration training carried out by village assistants in Lalonaha Village, Wolo District have been able to run well, it is just that the obstacles faced regarding the quality of work by village assistants have not been able to carry out proper coordination fully. Both between the Lalonaha Village Government and the village community. In the implementation stage of village facilitator activities to help village government activities have not been able to run well, this is because in every development activity and supervision of development programs carried out more by the village apparatus themselves. The independence of village assistants in improving community empowerment in the village Lalonaha has not gone well because the village government itself carries out almost all the implementation of village assistance activities.

Absorption Rate as a Tool for Assessing the Dynamics of Development Activity

Research background: An assessment of the dynamics of the development of the housing market is critical for development activity and the institutions that finance it. Due to the capital intensity of development projects, it seems necessary to perform detailed analyses to be sure that the investment will find buyers and to know how much time it will take for this undertaking to be sold. The absorption rate reports it. Purpose: The aim of the article is, therefore, to verify the importance of the absorption rate in assessing the dynamics of property market development based on the example of housing development activity in Łódź. Research methodology: To achieve the aim, in the empirical part of the article, information on developers’ investments in Łódź was independently collected, and based on them, absorption ratios for several periods were estimated. Results: The study showed dynamic changes in the absorption rate, as well as its diversity depending on the type of building and location. That is why it is so important to analyze this indicator in developers’ activity, where the risk of recovering the capital engaged is very high. Novelty: In Poland, there are few publications on the given topic, and the existing analyses of the absorption rate in Poland, prepared for the largest Polish cities, do not include the division into specific locations or the type of real estate, which is why they are not sufficiently reliable information for developers.

PEMBERDAYAAN MASYARAKAT MELALUI DIVERSIFIKASI PRODUK OLAHAN IKAN LELE DI DESA CURUG, GUNUNG SINDUR, KABUPATEN BOGOR

Community service involves groups of fish cultivators and PKK women in Curug Village, Gunung Sindur District, Bogor Regency. Curug Village is one of the villages included in the Minapolitan Development Area for Freshwater Fish Cultivation, Bogor Regency. The problems faced by partners are that the utilization of fish harvests into processed products, especially catfish, has not been maximized, and the partners' ignorance about themdiversification of processed catfish products. The purpose of this activity is to assist partners in exploiting the potential of aquaculture products into processed catfish products. Methods of implementing activities include socialization or counseling, training and mentoring. This partner village development activity contributes and benefits partners in the application of appropriate technology and the development of catfish cultivation yields into processed products as an effort to increase the independence and welfare of rural communities.Pengabdian kepada masyarakat melibatkan kelompok pembudidaya ikan dan ibu PKK Desa Curug, Kecamatan Gunung Sindur, Kabupaten Bogor. Desa Curug merupakan salah satu desa yang termasuk wilayah Pengembangan Kawasan Minapolitan Budidaya Ikan Air Tawar Kabupaten Bogor. Permasalahan yang dihadapi mitra adalah belum maksimalnya pemanfaatan hasil panen ikan menjadi produk olahan terutama ikan lele, dan masih adanya ketidaktahuan mitra tentang diversifikasi produk olahan ikan lele. Tujuan dari kegiatan ini adalah membantu mitradalam pemanfaatan potensi hasil budidaya menjadi produk olahan ikan lele. Metode pelaksanaan kegiatan meliputi sosialisasi atau penyuluhan, pelatihan dan pendampingan. Kegiatan pengembangan desa mitra ini memberikan kontribusi dan manfaat kepada mitra dalam penerapan teknologi tepat guna dan pengembangan hasil panen budidaya ikan lele menjadi produk olahan sebagai upaya meningkatkan kemandirian dan kesejahteraan masyarakat desa.