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1
Duarte, Anida, Annette Craven, and J. T. Norris. "Real Estate Agent Commission Disputes." SAGE Open 5, no. 2 (June 15, 2015): 215824401558999. http://dx.doi.org/10.1177/2158244015589993.
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Bian, Xun, Bennie D. Waller, and Abdullah Yavas. "Commission Splits in Real Estate Transactions." Journal of Real Estate Finance and Economics 54, no. 2 (November 18, 2015): 165–87. http://dx.doi.org/10.1007/s11146-015-9541-0.
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Shy, Oz. "Real Estate Brokers and Commission: Theory and Calibrations." Journal of Real Estate Finance and Economics 45, no. 4 (December 23, 2010): 982–1004. http://dx.doi.org/10.1007/s11146-010-9296-6.
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Goolsby, William, and Barbara Childs. "Brokerage Firm Competition in Real Estate Commission Rates." Journal of Real Estate Research 3, no. 2 (January 1, 1988): 79–85. http://dx.doi.org/10.1080/10835547.1988.12090557.
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Winkler, Daniel, and Bruce Gordon. "Commission Splits of Real Estate Agents with Affiliated Firms." Journal of Housing Research 22, no. 2 (January 1, 2013): 109–22. http://dx.doi.org/10.1080/10835547.2013.12092076.
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Mashatan, Atefeh, Victoria Lemieux, Seung Hwan (Mark) Lee, Przemysław Szufel, and Zachary Roberts. "Usurping Double-Ending Fraud in Real Estate Transactions via Blockchain Technology." Journal of Database Management 32, no. 1 (January 2021): 27–48. http://dx.doi.org/10.4018/jdm.2021010102.
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This paper discusses the problem of double-ending fraud in real estate transactions – a type of transactional fraud wherein agents handling real estate transactions unfairly benefit (e.g., by simultaneously representing both the buy and sell side of a real estate transaction in a manner that unfairly boosts the commission they receive, or colluding to increase their commission in a real estate transaction at the expense of the buyer and/or seller of the real property). The paper proposes a unique blockchain solution design that leverages blockchain's properties of transparency and ability to create tamper-resistant audit trails to reduce opportunities for double-ending fraud and increase real estate market participants' trust in the handling of their transactions. The paper discusses the implementation of a prototype of the solution based on hyperledger fabric and sails; it presents the results of an agent-based modelling simulation validating that the inherent transparency of the proposed design offers optimal allocation for both sellers and buyers.
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Umeh, Obinna Lawrence, and Al-ameen Ayoade Okonu. "Real estate performance in Nigeria pension fund." Journal of Property Investment & Finance 36, no. 5 (August 6, 2018): 454–65. http://dx.doi.org/10.1108/jpif-02-2018-0009.
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Purpose The purpose of this paper is to examine the contribution of real estate to the performance of mixed-asset portfolio of Nigeria Pension Fund with a view to providing a guide on investment decision making for institutional investors and portfolio managers. Design/methodology/approach Data on capital value were collected from the quarterly and annual reports of Nigeria Pension Commission over a period of ten (2007–2016) years, and the data were analyzed using descriptive statistics. Findings The findings show that there is diversification benefit resulting from integrating real estate to other assets of the Nigeria Pension Fund, and that the fund’s portfolio performed better when real estate is integrated in the mixed-asset portfolio. Practical implications Investment portfolio managers can benefit from the findings of this study by making investment decisions that are performance-driven. The study will serve as a guide in making investment decisions on mixed-asset portfolio of institutional investors other than pension funds. Originality/value There is no known paper on the contribution of real estate in the performance of asset portfolio of the Nigeria Pension Fund.
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Gross, Marta, and Ryszard Źróbek. "PUBLIC REAL ESTATE MANAGEMENT IN POST-SOCIALIST COUNTRIES." Real Estate Management and Valuation 21, no. 4 (December 1, 2013): 11–16. http://dx.doi.org/10.2478/remav-2013-0032.
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Abstract Public real estate management is a complicated process which depends on many factors. Post-socialist countries are characterized by different ways of public real estate management. This is caused, inter alia, by the specifics of a particular country, its history, politics, the way in which public real estate is interpreted, or the amount of public resources. The paper presents the classification of the public real estate management systems in terms of the applied procedures. Analyses were made on the basis of the authors’ own studies and indicators proposed by international organizations, such as the World Bank and World Economic Forum. Extremely helpful advice was also obtained from the participants of the international seminar on State and Public Sector Land Management in Transition Countries, which was organized in September 2012 in Budapest by Commission 7 of the International Federation of Surveyors (FIG) and the United Nations Food and Agriculture Organization (FAO).
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Anih, Paul C., Chicheta F. Nissi, and Uduakobong E. Akpan. "Real Estate Entrepreneurial Training and Education in Tertiary Institution: An Antidote to Unemployment." Baltic Journal of Real Estate Economics and Construction Management 7, no. 1 (January 1, 2019): 172–89. http://dx.doi.org/10.2478/bjreecm-2019-0011.
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Abstract Real estate entrepreneurship training and education in tertiary institutions can be a source of remedy to unemployment in Nigeria. World Bank (2019) reveals that Nigeria unemployment rate was 6.03 % in the year 2018 and the country ranked 83rd with high unemployment. The aim of the research is to examine the perception and responses of undergraduates of Estate Management and Valuation on entrepreneurship training and education for professional competence. The University of Uyo was studied and particularly Estate Management undergraduates during the academic years of 2014/2015–2018/2019. The method of the research was a descriptive study. Data were obtained from the mean scores of the class assessments (CAs) and the examination scores (ESs) administered to the students on selected courses related to entrepreneurial education. The students’ performance was used as an indicator for their willingness to adhere to entrepreneurial education in Real Estate Management and Valuation. The National Universities Commission grading scale was adopted (A = 70–100; B = 60–69; C = 50–59; D = 45–49; E = 40–44; F = 0–39). The finding shows that the score for all the courses was above 50 %. The entrepreneurial study was 62 %, which was “B” grade of National Universities Commission scale. The study, therefore, concludes that the students of estate management were willing to adhere to entrepreneurial training and education from their scores. The study recommends the provision of adequate learning environment, qualified teaching staff and provision of technical resources.
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Keene, Amelia, and Sarah Leslie. "But Where's the Contract? A Tribute to Professor David McLauchlan." Victoria University of Wellington Law Review 42, no. 1 (May 2, 2011): 3. http://dx.doi.org/10.26686/vuwlr.v42i1.5404.
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This article is a tribute to Professor David McLauchlan on the occasion of his 40th teaching anniversary. The first part is a personal recollection from each of the two authors. The second part is a joint case note. It poses the question: how could a real estate firm who knew the vendor did not intend to appoint the firm as agent nevertheless have a legal right to withhold commission? In the decision of Nightingale v Barfoot Ltd, Venning J confirmed that the firm had such a right. This article challenges the accuracy of that conclusion, suggesting that as there was no evidence to support the formation of an agency agreement, the real estate firm did not have the right to deduct commission. It analyses critically a number of the legal arguments raised in the case and those that should have been raised, including those concerning contract formation, the objective principle, promissory estoppel, and the effect of s 62 of the Real Estate Agents Act 1976 and the Contracts Privity Act 1982. Much responsibility for the outcome of the case must be pinned on counsel for the vendor, who failed to stop and ask himself "But Where’s The Contract"?
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Kaleta, Sebastian. "The fact-finding proceedings and the examination proceedings conducted before the Commission for Warsaw Real Estate Reprivatisation. Basic Differences." Nieruchomości@ : kwartalnik Ministerstwa Sprawiedliwości II, no. II (June 30, 2021): 67–82. http://dx.doi.org/10.5604/01.3001.0014.9270.
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The article is an attempt at pointing out the fundamental differences between two kinds of proceedings conducted before the Commission for Warsaw Real Estate Reprivatisation, i.e., the fact-finding proceedings and the examination proceedings. The author compares the systemic, subjective and objective features of the abovementioned proceedings.
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Barwick, Panle Jia, Parag A. Pathak, and Maisy Wong. "Conflicts of Interest and Steering in Residential Brokerage." American Economic Journal: Applied Economics 9, no. 3 (July 1, 2017): 191–222. http://dx.doi.org/10.1257/app.20160214.
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This paper documents uniformity in real estate commission rates offered to buyers' agents using 653,475 residential listings in eastern Massachusetts from 1998–2011. Properties listed with lower commission rates experience less favorable transaction outcomes: they are 5 percent less likely to sell and take 12 percent longer to sell. These adverse outcomes reflect decreased willingness of buyers' agents to intermediate low commission properties (steering), rather than heterogeneous seller preferences or reduced effort of listing agents. Offices with large market shares purchase a disproportionately small fraction of low commission properties. The negative outcomes for low commissions provide empirical support for regulatory concerns over steering. (JEL D82, L85, R21, R31)
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Lang, Stephan, and Wolfgang Schaefers. "Examining the sentiment-return relationship in European real estate stock markets." Journal of European Real Estate Research 8, no. 1 (May 5, 2015): 24–45. http://dx.doi.org/10.1108/jerer-10-2014-0036.
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Purpose – Recent studies in the field of behavioral finance have highlighted the importance of investor sentiment in the return-generating process for general equities. By employing an asset pricing framework, this paper aims to evaluate the performance of European real estate equities, based on their degree of sentiment sensitivity. Design/methodology/approach – Using a pan-European data set, we classify all real estate equities according to their sentiment sensitivity, which is measured relative to the Economic Sentiment Indicator (ESI) of the European Commission. Based on their individual sentiment responsiveness, we form both a high- and low-sensitivity portfolio, whose returns are included in the difference test of the liquidity-augmented asset pricing model. In this context, we analyze the performance of sentiment-sensitive and sentiment-insensitive real estate equities with a risk-adjusted perspective over the period July 1995 to June 2012. Findings – While high-sensitivity real estate equities yield significantly higher raw returns than those with low-sensitivity, we find no evidence of risk-adjusted outperformance. This indicates that allegedly sentiment-driven return behavior is in fact merely compensation for taking higher fundamental risks. In this context, we find that sentiment-sensitive real estate equities are exposed to significantly higher market risks than sentiment-insensitive ones. Based on these findings, we conclude that a sentiment-based investment strategy, consisting of a long-position in the high-sensitivity portfolio and a short-position in the low-sensitivity one, does not generate a risk-adjusted profit. Research limitations/implications – Although this study sheds some light on investor sentiment in European real estate stock markets, further research could usefully concentrate on alternative sentiment proxies. Originality/value – This is the first study to disentangle the relationship between investor sentiment and European real estate stock returns.
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Winkler, Daniel, Donald Jud, and Tony Wingler. "The Role of Commission Rates and Specialization in the Determination of Real Estate Agent Income." Journal of Housing Research 16, no. 1 (January 1, 2007): 19–31. http://dx.doi.org/10.1080/10835547.2007.12091976.
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Kuznetsova, Anna, Polina Alles, and Natalia Mitrofanova. "LEGAL AND TECHNOLOGICAL FEATURES OF REALIZATION OF COTTAGE AMNESTY." Interexpo GEO-Siberia 7 (2019): 227–38. http://dx.doi.org/10.33764/2618-981x-2019-7-227-238.
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This paper describes a simplified procedure for registering citizens' rights to real estate and land plots occupied by such objects, which allows registration of rights to land plots and capital construction objects, as well as land plots and capital construction objects, with a minimum package of documents, namely without obtaining a building permit and permission to commission the object.
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Czechowski,, Paweł, and Adam Niewiadomski. "Mechanizmy prawne ochrony rolnego charakteru nieruchomości w świetle rezolucji Parlamentu Europejskiego z dnia 27 kwietnia 2017 r. w sprawie aktualnego stanu koncentracji gruntów rolnych w UE: jak ułatwić rolnikom dostęp do gruntów?" Studia Iuridica 78 (May 29, 2019): 102–15. http://dx.doi.org/10.5604/01.3001.0013.2140.
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The article presents current development trends related to European regulations concerning agricultural property trade. The legal instruments proposed by the European Parliament and the European Commission, which which are supposed to preserve the agricultural character of the property, has been presented. These regulations should help farmers to keep their jobs. They also recommend creating strict supervision over the turnover of agricultural real estate.
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Nassar, Dina Mamdouh. "Heritage Conservation Management in Egypt: The balance between heritage conservation and real-estate development in Alexandria." Environment-Behaviour Proceedings Journal 1, no. 4 (August 7, 2016): 95. http://dx.doi.org/10.21834/e-bpj.v1i4.132.
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In Egypt, and especially in the old city of Alexandria, the battle between heritage conservation and real estate investment exists and raging. Are we obliged to keep old buildings although they have lost their original settings?The debate of either keeping or demolishing some of the heritage stock for the sake of stimulating investment and harmonising street-scape is argued in this research at the administrative, public and private levels, with regards to real estate investments and building laws in the last 9 years, since the establishment of the Technical Secretariat of the Standing Committee of the Heritage Conservation Commission in Alexandria.© 2016. The Authors. Published for AMER ABRA by e-International Publishing House, Ltd., UK. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia.Keywords: Heritage Conservation Management; Heritage Buildings Inventory; Real Estate Investment; Public Interest.
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SHIRAKAWA, Keiichi, and Toshiyuki OKOSHI. "Dual agency, commission levels and the eff ect on sale price in residential real estate market：." Japanese Journal of Real Estate Sciences 31, no. 1 (June 29, 2017): 88–96. http://dx.doi.org/10.5736/jares.31.1_88.
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Stamsø, Mary Ann. "Selling a house and the decision to use a real estate broker in Norway." Property Management 33, no. 2 (April 20, 2015): 173–86. http://dx.doi.org/10.1108/pm-01-2014-0006.
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Purpose – The purpose of this paper is to examine the widespread of property sellers choosing to sell by themselves or through an estate agent, what characterises them and the reason for their choice. In addition the paper contains comparisons of the gap between sales price and asking price between the sales methods and satisfaction with the sales process. This study is the first study of these phenomena carried out in Norway. Design/methodology/approach – The data used for this study was obtained from a national survey including 1,649 house sellers. A logistic regression analysis is used to analyse the impact of household’s characteristics on the sales method. Findings – The main findings of this study are that 83 per cent of the house sellers used an estate agent through the whole sales process and differences in the choices are related to urbanisation, age and education. The most important reason for preferring a real estate broker is that doing the sale on your own is considered too much work. Conversely, the most important reason for doing the sale on your own is that estate agents are too expensive. Those selling without an estate agent were more satisfied and the gap between sales price and asking price was smaller than for those selling through a real estate broker. Originality/value – Issues concerning competition within the market for estate agents should be central topics for property management. Property sellers selling their property by themselves are an important contribution to increase the competition in the market for estate agents. This issue has not been on the agenda in Norway, or in Europe, in the same way as in the USA. This is probably due to the complexity in the legislation and strict laws within property sales in Central and Southern Europe. However, in Norway, UK and in the Nordic countries, the legal system is not complicated. It is rather the lockout of private individuals from the housing web sites and the fact that the property sellers are not familiar with this kind of transaction that has prevented property sellers to sell their house by themselves. Today Norway is one of few countries with a booming housing market, which also has increased the commission for estate agents. From 2010 private individuals got access to advertise their house on the housing web sites in Norway. These have influenced the focus on alternative sales methods.
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R. Stanifer, Stacy, and Ellen J. Hahn. "Analysis of Radon Awareness and Disclosure Policy in Kentucky: Applying Kingdon’s Multiple Streams Framework." Policy, Politics, & Nursing Practice 21, no. 3 (May 11, 2020): 132–39. http://dx.doi.org/10.1177/1527154420923728.
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The purpose of this article is to analyze radon awareness and disclosure policy proposed during the 2018 Kentucky General Assembly using Kingdon’s Multiple Stream Framework. Radon gas is the second leading cause of lung cancer. Exposure to radon occurs largely in the home. The proportion of homeowners who have completed radon testing remains low, and home radon testing is voluntary in most states. The Environmental Law Institute recommends states enact policies to promote radon awareness and testing. The most common radon awareness policy mandates radon disclosure during a real estate transaction. A bill to mandate radon disclosure during a real estate transaction was proposed during the 2018 Kentucky General Assembly but was met with opposition and was not filed. As a policy alternative, an administrative regulation to amend the Form for Seller’s Disclosure of Conditions was proposed to the Kentucky Real Estate Commission. Administrative regulations set forth by government regulatory agencies are equally enforceable and may be a more politically feasible alternative to enacting public policy. Nurses are positioned to promote the health of patients and populations. Nurses advocating for radon control legislation and/or administrative regulations may push radon control policy higher on the governmental decision agenda leading to policy change to decrease the development of lung cancer.
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Frazier, Russell M. "Impacts of Louisiana Public Policy on Employment: An Econometric Analysis." Advances in Social Sciences Research Journal 6, no. 9 (September 23, 2019): 129–42. http://dx.doi.org/10.14738/assrj.69.7089.
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Employment plays a key role in the growth and development of any state economy, particularly given its potential to affect the standards of living for the population, as well as the revenues and expenditure of the government itself. A disaggregated evaluation of employment growth enables stakeholders to engage public policy formation in a more effective and efficacious manner. Therefore, the primary goal of this paper is to analyze employment growth trends and policy implications relative to the economic development of Louisiana’s industries at the sector level, by employing a rigorous shift-share analysis. The research employs data for twelve years from 2005 to 2017 to answer the guiding questions of this applied empirical research. Results show that comparative advantages are seen in the following areas: Finance and Insurance; Real Estate and Rental and Leasing; Administrative and Waste Services; Educational Services; Accommodation and Food Services; and Other Services (except for Public Administration). Thus, program initiatives directed at those sectors, with sufficient infrastructure, would enhance the economic development of Louisiana. It is plausible to believe that improved economic growth would draw new investors to Louisiana.
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Churyk, Natalie Tatiana, Alan Reinstein, and Lance Smith. "Jones Enterprises Real Estate Investment Trust: Comparing U.S. and Canadian Acquisition Accounting, Balance Sheet and Security Commission Reporting, and Initial Public Offering Location." Issues in Accounting Education 33, no. 2 (February 1, 2018): 35–42. http://dx.doi.org/10.2308/iace-52043.
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ABSTRACT Based on a Big 4 real estate audit partner's client, this case introduces graduate research and advanced financial accounting students to acquisition accounting under U.S. generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS), provides a perspective on real estate investment trusts (REITs), and requires analyzing a U.S. versus Canadian (Ontario) initial public offering (IPO). Students list U.S. and Canadian advantages and disadvantages of REITs, record a portfolio purchase, prepare U.S. GAAP and IFRS balance sheets in order to grasp major REIT reporting differences, contrast the key provisions between U.S. and Canadian (Ontario) securities commissions' IPO reporting, and consider ongoing securities commissions' reporting options. Finally, students will recommend whether the IPO should be issued in the U.S. or Canada. Completing the case helps students: (1) grasp U.S. GAAP and IFRS acquisition accounting methods and different REIT presentations; and (2) recognize that the country selected for the IPO depends upon the issuer's circumstances and preferences.
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Laskin, M. B., and A. U. Talavirya. "Assessment of changes in the market value of residential real estate in the area of the commissioned transport interchange of the urban toll road." Statistics and Economics 16, no. 5 (November 2, 2019): 57–69. http://dx.doi.org/10.21686/2500-3925-2019-5-57-69.
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The purpose of this research is to assess the impact of the commissioned toll road running through the city’s residential areas on the market value of residential real estate. The article presents a review of non-traditional methods for assessing real estate value, mainly in foreign publications. The Western High-Speed Diameter (WHSD) is the most significant transport and infrastructure project of the current decade for St. Petersburg. The most inaccessible part of the city on Vasilievsky Island was analyzed, as the example of new and secondary real estate value changes, were examined from August 2015 to December 2017, by the time when the new transport interchange of WHSD in the western part of the island was constructed and put into commission. For the study, the authors used the data of the Real Estate Bulletin of St. Petersburg at the end of 2015 and 2017, the data of the cadastral assessment of residential real estate of St. Petersburg of 01.01.2015 and 01.01.2018. Main research method is the study of two-dimensional and conditional distributions of random values of bid prices and cadastral values, which allows obtaining estimates of the market value of the real estate that has passed cadastral registration, and estimates of growth rates. The comparison of prices of offers with cadastral values applied in the article, with a simple and natural speculation of logarithmically normal distribution, allows us to propose a method of assessing the market value for any property, even if the information about it is not available in the market data. The obtained numerical results showed a rise in the cost of a significant part of the mass-market for the study period up to 18% without discount on the auction, and up to 9% taking into account the discount on the auction. It turned out to be slightly higher than the general change in the prices of proposals that can be found in advertising publications. A significant change (from 50% to 73%) was found in business-class properties, located in the area with significantly changed species characteristics and improved transport accessibility, in the immediate vicinity of the exit from WHSD. The results, indicating the growth of market value, allowed us to make a general conclusion about the changes in the attractiveness of the area for different segments of the population of the city: both for the mobile middle class, focused on the mass-market, and for buyers of the premium segment, having increased requirements for the real estate. The authors believe that the growth of the market value of real estate in the area of transport interchanges of modern infrastructure projects could be higher in other macroeconomic conditions. At present, the effective demand of the population is obviously not sufficient.
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Arežina, Sanja. "Analysis of real-estate property issues between the Serbian Orthodox Church and the Montenegrin state in the context of adopting the Act on freedom of religion or belief and the legal status of religious communities." Zbornik radova Pravnog fakulteta Nis 59, no. 88 (2020): 111–33. http://dx.doi.org/10.5937/zrpfn0-27939.
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The entry into force of the Act on Freedom of Religion or Belief and the Legal Status of Religious Communities (hereinafter: the Freedom of Religion Act) in January 2020 provoked reactions and protests from the Orthodox population of Serbian descent in Montenegro because some provisions of this Act allow for the confiscation of centuries-old real-estate property of the Serbian Orthodox Church dioceses in Montenegro. It should be noted that the Serbian Orthodox Church (SOC) is the only religious community in Montenegro with which the Montenegrin authorities have not concluded a Fundamental Agreement on the Regulation of Mutual Relations. In order to reach a compromise solution, negotiations have begun between the dioceses of the SOC in Montenegro and the Montenegrin authorities. In this article, the author discusses the history of relations between the SOC and the Montenegrin state in the period from the beginnings of Montenegrin statehood in the 15th century to the enactment of the the Freedom of Religion Act in early 2020. In particular, the paper focuses on the regulation of real-estate property issue in that period, the factors that influenced the adoption of this Act, the adoption process, the analysis of provisions related to real-estate property issues, and the recommendations of the Venice Commission. The author uses the structural-functional analysis, induction and deduction methods to prove the basic hypothesis that the Montenegrin authorities will not be able to ignore the legitimate rights of the SOC's dioceses in Montenegro regarding the regulation of real-estate property issues, and that the two sides will find an interest to reach a compromise during the negotiations on the disputed Act and conclude the Fundamental Agreement in order to permanently resolve the status of the Serbian Orthodox Church in Montenegro.
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Shammas, Carole. "Tracking the growth of government securities investing in early modern England and Wales." Financial History Review 27, no. 1 (March 25, 2020): 95–114. http://dx.doi.org/10.1017/s096856501900026x.
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Interest in the growth of tradeable securities in early modern Britain, especially its relationship to economic development and the funding of government debt, has centered mainly on the borrower – whether it be trading company, industrial enterprise, or the state. This article directs attention to the investor, using Charity Commission Reports for England and Wales that document a dramatic mid-eighteenth-century shift by donors and trustees from investments in real estate and rent charges to perpetual government annuities, mainly 3 percent Consols. The heavy investment in this public debt product is what ultimately prompted the creation of the London Stock Exchange in 1801.In analyzing this shift, which occurred among the propertied in all regions of the nation, not just the metropolis or among corporate entities and the mercantile community, I consider both what made the annuities increasingly attractive for charitable trusts and the alternatives – real estate and private loans secured by mortgage or other means – more problematic. Legal changes, I argue, played a role in the transformation, especially the Charitable Uses Act of 1736, which made charitable devises of real estate very difficult and probably resulted in reduced investment in human capital and less wealth redistribution. Regions varied, however, in the degree to which they switched from real estate in the latter part of the eighteenth century; they also differed in the extent to which the switch resulted in more gifts of interest-bearing loans as well.Admittedly, the changes documented in this article concern only one type of depository for assets, charitable trusts. The appeal of these annuities, however, could extend to investments needed for other purposes such as postmortem payments to dependents. Moreover, the fall-off in demand for real estate in trusts correlates with GDP estimates showing a steady decline in income from real assets after 1755 and what some have noted in this period as a puzzle – the lack of an increased rate of return on rents and private loans at a time of robust investment in government debt. Most importantly, though, the transition demonstrates the ability of the government to induce a broad spectrum of the propertied population to invest in securities, if the vehicle they offered had the right characteristics, which were not necessarily highest yield or liquidity without loss in value.
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TEMIRZHANOVA, Lyazzat А., Nurtai K. IMANGALIEV, Almaz Zh SYZDYKOV, Almaz A. ESHNAZAROV, and Bakhytzhan Zh SAGYMBEKOV. "Improving the Mechanism of Countering Certain Types of Fraud in the Republic of Kazakhstan." Journal of Advanced Research in Law and Economics 9, no. 5 (June 11, 2019): 1776. http://dx.doi.org/10.14505//jarle.v9.5(35).33.
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The urgency of the problem stated in the article is due to the fact that the widespread digitalization of the economy leads to the fact that crimes such as theft and fraud are committed using computer tools and systems. According to statistics from Kazakhstan, as a result of fraud using computer technology, damage in the amount of more than 28 billion tenge was caused, of which individuals - 24.7 billion tenge, legal entities - 1.8 billion tenge and the state - more than 1 billion tenge. In this regard, the study touched upon issues of ensuring information security and countering cyber threats. The purpose of the article is to develop effective measures to prevent the commission of fraud with the use of information technology, since theft begins from cyber attacks on information systems. In this study, methods such as comparative legal analysis and expert evaluation were used. Amendments are proposed to the criminal legislation of the Republic of Kazakhstan regarding the jurisdiction of crimes, on the addition of qualifying signs, and on the need to adopt a new Law on real estate activity in the Republic of Kazakhstan. Amendments to the criminal law will have a positive effect on the ‘unloading’ of investigators of the internal affairs bodies, since the number of ordinary crimes related to their competence significantly exceeds the number of crimes in the sphere of economic activity. The adoption of a new law on real estate activity in the Republic of Kazakhstan will avoid the facts of re-registration of apartments for criminal purposes, the commission of fraud by realtors.
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Pavlova, N., and V. Rets. "Determination of the place and the time of commission of the fraud in the primary market of real estate." Naukovyy Visnyk Dnipropetrovs'kogo Derzhavnogo Universytetu Vnutrishnikh Sprav 3, no. 3 (December 28, 2018): 139–42. http://dx.doi.org/10.31733/2078-3566-2018-4-139-142.
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Chuweni, Nor Nazihah, and Chris Eves. "A review of efficiency measures for REITS and their specific application for Malaysian Islamic REITS." Journal of Islamic Accounting and Business Research 8, no. 1 (February 13, 2017): 41–53. http://dx.doi.org/10.1108/jiabr-03-2015-0007.
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Purpose This paper aims to present a conceptual model on the efficiency of Islamic real estate investment trusts (I-REITs) available in Malaysia. The key difference between the Islamic and their conventional investment vehicle part is mainly its own Shariah framework. For instance, I-REITS must comply with the requirement of Securities Commission Act 1993 as well as the Guidelines on Islamic Real Estate Investment Trusts (Islamic REITs Guidelines). Design/methodology/approach The paper reviews and synthesises the relevant literature on the performance analysis and efficiency measurements of REITs. The paper then develops and proposes a conceptual model to measure the efficiency of Malaysian and Islamic REITs. Findings The paper identifies and examines the appropriate methods and instruments to measure the efficiency in relation to the risk and profitability of I-REITs. The efficiency measure is important for the fund managers to maximise the shareholders’ return in an investment of property portfolio as well as proposing the best way to allocate resources efficiently. Research limitations/implications This is a preliminary review of current work that identifies the issues that will be addressed in future empirical research. The authors will be undertaking this future empirical research in measuring the efficiency of Malaysian real estate investment trusts (M-REITs), particularly the I-REITs, using the non-parametric approach of data envelopment analysis. Originality/value To date, there has been very limited research on the efficiency measurement of I-REITs. The current analysis of REIT has been focused on traditional non-Islamic funds. This paper will review and discuss the current literature on efficiency measurement to determine the most appropriate approaches and methodologies for future application in performance analysis of efficiency measure for Malaysian and Islamic REITs.
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Ogryzek, Marek, Anna Klimach, Dominik Niekurzak, and Michał Pietkiewicz. "Using Cartographic Documents to Provide Geoinformation on the Rights to Real Estate—Taking Poland as an Example." ISPRS International Journal of Geo-Information 8, no. 12 (November 26, 2019): 530. http://dx.doi.org/10.3390/ijgi8120530.
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The current and planned EU regulations concerning INSPIRE have forced the Member States to develop national geoportals. The aim of creating geospatial data infrastructure was to unify the exchange of data at a national level, and consequently to create the INSPIRE geoportal by the Community Research Centre of the European Commission (JRC), which is to be the center of the European network of geospatial data infrastructure. New opportunities and new solutions to the problems have emerged through the use of thematic layers. The rights to the land each have potential restrictions on its use, and these rights can sometimes prevent the land from being used for its intended purpose. The purpose of the article is to demonstrate the possibility of developing maps showing the utility networks and the right to the land acquired by the utility company. The authors carried out a SWOT analysis of the systemic use of cartographic documents as a way of disclosing the rights to real estate in order to set up utility networks in Poland. The authors examined the impact of this solution on future property owners (investors) to provide them with full knowledge about a given area of real estate. Remote sensing methods may be useful for the disclosure of rights on maps of technical infrastructure, because currently there is no such information in the systems. The developed solution should be used by both local and national geoportals.
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Haska, Agnieszka, and Aleksandra Bańkowska. "Powojenni lokatorzy budynku przy ul. Tłomackie 5." Zagłada Żydów. Studia i Materiały, no. 8 (December 2, 2012): 430–42. http://dx.doi.org/10.32927/zzsim.699.
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In 1945 the building of the Central Judaist Library was inhabited by ca. 30 illegal tenants. After the real estate had been taken over in February 1946 by the Central Commission of Polish Jews most of them moved, but one family refused to leave the apartment they had been living in. Certain files that have survived in the Legal Department of the Archive of the Jewish Historical Institute contain correspondence regarding the rooms on Tłomackie Street, which allow for a reconstruction of the dispute that began in 1948 and which this article describes. Aside from the profiles of the illegal tenants we also present the profiles of the legal tenants of the building at Tłomackie Street No. 5
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Sanderson, Danielle Claire, and Steven Devaney. "Occupier satisfaction and its impact on investment returns from UK commercial real estate." Journal of Property Investment & Finance 35, no. 2 (March 6, 2017): 135–59. http://dx.doi.org/10.1108/jpif-10-2016-0077.
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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.
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Willis, Edward. "The Lodge Case and the Misapplication of the Per Se Cartel Provisions of the Commerce Act 1986." Victoria University of Wellington Law Review 50, no. 3 (October 1, 2019): 551. http://dx.doi.org/10.26686/vuwlr.v50i3.5991.
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An arrangement to fix, control or maintain prices is the classic competition law per se offence, and is deemed to substantially lessen competition under s 30 of the Commerce Act 1986. However, it is currently unclear when arrangements that do not explicitly concern price fall within the ambit of s 30. This article examines the recent Court of Appeal decision in Commerce Commission v Lodge Real Estate Ltd which found that the defendants were liable under the per se offence provisions. It contends that the Court of Appeal took the overseas case law out of context, misunderstood key factual findings made by the High Court at first instance and overlooked important legal and policy considerations. As a result it is argued that Lodge sets an unfortunate precedent that should be overruled or strictly confined to its own facts.
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Çağdaş, V., A. Kara, P. van Oosterom, C. Lemmen, Ü. Işıkdağ, R. Kathmann, and E. Stubkjær. "AN INITIAL DESIGN OF ISO 19152:2012 LADM BASED VALUATION AND TAXATION DATA MODEL." ISPRS Annals of Photogrammetry, Remote Sensing and Spatial Information Sciences IV-2/W1 (October 5, 2016): 145–54. http://dx.doi.org/10.5194/isprs-annals-iv-2-w1-145-2016.
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A fiscal registry or database is supposed to record geometric, legal, physical, economic, and environmental characteristics in relation to property units, which are subject to immovable property valuation and taxation. Apart from procedural standards, there is no internationally accepted data standard that defines the semantics of fiscal databases. The ISO 19152:2012 Land Administration Domain Model (LADM), as an international land administration standard focuses on legal requirements, but considers out of scope specifications of external information systems including valuation and taxation databases. However, it provides a formalism which allows for an extension that responds to the fiscal requirements. This paper introduces an initial version of a LADM – Fiscal Extension Module for the specification of databases used in immovable property valuation and taxation. The extension module is designed to facilitate all stages of immovable property taxation, namely the identification of properties and taxpayers, assessment of properties through single or mass appraisal procedures, automatic generation of sales statistics, and the management of tax collection, dealing with arrears and appeals. It is expected that the initial version will be refined through further activities held by a possible joint working group under FIG Commission 7 (Cadastre and Land Management) and FIG Commission 9 (Valuation and the Management of Real Estate) in collaboration with other relevant international bodies.
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Emblidge, David. "Scribner’s Bookstore." Logos 31, no. 4 (February 17, 2021): 39–43. http://dx.doi.org/10.1163/18784712-03104003.
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Abstract In 1989, a literary landmark in New York City closed. Scribner’s Bookstore, 597 Fifth Avenue, stood at the epicentre of Manhattan’s retail district. The Scribner’s publishing company was then 153 years old. In the 1920s, driven by genius editor Max Perkins, Scribner’s published Fitzgerald, Hemingway, and Wolfe. Scribner’s Magazine was The New Yorker of its day. The bookshop and publisher occupied a 10-storey Beaux-Arts building, designed by Ernest Flagg, which eventually won protection from the New York City Landmarks Preservation Commission. Medallions honoured printers Benjamin Franklin, William Caxton, Johann Gutenberg, and Aldus Manutius. The ‘Byzantine cathedral of books’ offered deeply informed personal service. But the paperback revolution gained momentum, bookshop chains like Barnes & Noble and Brentano’s adopted extreme discounting, and the no-discounting Scribner’s business model became unsustainable. Real estate developers swooped in. The bookshop’s ignominious end came when Italian clothier Benetton took over its space.
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Suhodubov, V. S. "PROBLEM STATEMENT FOR DEVELOPMENT OF SPECIFIC CRIMINALISTIC TECHNIQUE FOR INVESTIGATION ON MURDERS ASSOCIATED WITH HOUSING OCCUPANCY." Theory and Practice of Forensic Science and Criminalistics 18 (December 26, 2018): 112–21. http://dx.doi.org/10.32353/khrife.2018.13.
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Prerequisites of separate criminalistic methodology (micromethods) development for investigating murders associated with occupancy of human housing are considered. Attention is drawn to the fact that among the factors that lead to the growth of crime in real estate market are social contradictions (market economy development and institution of private property, expansion of the apartment privatization market, ineffective work of law enforcement agencies, decline in citizens' well-being, etc.).
The essence and mechanism of this murder type is investigated, and the main signs of their commission are highlighted. It has been determined that the mechanism for committing murders involving the occupancy of housing includes: 1) actions of the directly injured regarding of housing occupancy and provoking murder commission; 2) actions accompanied by violations by officials (housing and operational organizations, notary offices, local governments and law enforcement agencies); 3) offender actions directly related to the murder commission of the person and housing occupancy. Peculiarities of the mechanism of investigated murder committing is that methods of committing in their structure (substantive part) can unclude following actions: 1) of active nature (infliction of bodily harm, using firearms and cold weapon etc.); 2) actions of active-passive nature (leaving in danger, inadequate discharge of responsibilities for health protection, failure to provide assistance to a person in a life-threatening condition, etc.).
Structural elements of a separate criminalistic methodology (micromethodics) for investigating murders associated with housing occupancy have been proposed, among which the following should be highlighted: 1) criminalistic description; 2) typical investigative situations; 3) circumstances to be clarified; 4) typical investigative versions; 5) interaction of the investigator with the operative search units; 6) tactics of investigative (search) actions.
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Czechowski, Paweł, and Adam Niewiadomski. "Wybrane zagadnienia prawa europejskiego w zakresie nabywania i gospodarowania gruntami rolnymi." Studia Iuridica, no. 86 (June 14, 2021): 43–56. http://dx.doi.org/10.31338/2544-3135.si.2020-86.3.
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The subject of the analysis are new tendencies in the European soft law pertaining to agricultural land management and agricultural property trade. In 2017, a European Parliament resolution was published on the current state of agricultural land concentration in the EU. This same year, on 18 October, European Commission formulated a statement that responded to this resolution by defining the control limits of property rights for the European Union authorities, based on a line set by the Court of Justice and the guiding principles of the TFEU.
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Borecki, Paweł. "W sprawie pojęcia wyznaniowej żydowskiej osoby prawnej. Uwagi na tle wyroku Sądu Najwyższego z 9 lutego 2007 r., sygn. III CSK 411/06." Studia Prawa Publicznego, no. 1(29) (March 15, 2020): 163–80. http://dx.doi.org/10.14746/spp.2020.1.29.7.
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In its judgment of February 9, 2007 (Ref. No. III CSK 411/06), the Supreme Court formulated a narrow interpretation of the concept of a Jewish religious legal entity based on a formal criterion. In practice, the position of the Court has limited on a permanent basis the reprivatization of real estate to the benefit of Jewish communities and the Association of Communes. This reprivatization has been conducted in a narrow scope for over twenty years by the Regulatory Commission for Jewish Religious Communities. The restrictive interpretation that was adopted for the concept of a Jewish religious legal entity is inconsistent with the principle of correct legislation, with the principle of public trust in the state and its law, and in fact with the principle of social justice. Jewish religious communities in a number of areas are treated worse than the largest or oldest Christian churches. This applies in particular to the issue of membership of Jewish religious communities, tax matters or religious foundations. In addition, the interpretation of the Supreme Court does not take into account the historical forms of the organization of Judaism in Poland. On the other hand, the interpretation adopted on a consensus basis by the Regulatory Commission for Jewish Religious Communities in June 1999 is correct. It is functional. The Supreme Court should weigh constitutional principles and opt for this functional interpretation, instead of adopting a formal interpretation.
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Reitan, Meredith Drake. "Beauty Controlled." Journal of Planning History 13, no. 4 (October 21, 2013): 296–321. http://dx.doi.org/10.1177/1538513213508078.
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In the first two decades of the twentieth century, more than twenty plans were prepared for the Los Angeles Civic Center. With their monumental architectural style, broad boulevards and landscaped public plazas, these proposals draw heavily from planning’s early City Beautiful roots and challenge the idea that Los Angeles had only a “brief infatuation” with the movement. This article considers a number of these proposals, paying particular attention to two schemes that bookend the local movement: the 1907 plan prepared by Charles Mulford Robinson for the Municipal Art Commission and the plan prepared by the Allied Architects Association in the mid-1920s. While neither was implemented in full, the discussions that surrounded their adoption demonstrate a continued local interest in aesthetically oriented planning at a grand scale. A close reading of these plans, and especially the ways in which the authors attempt to communicate their ideas visually provides an opportunity to consider how the profession incorporated competing ideas about art and science, professional expertise, race and real estate, in its attempt to persuade public officials and the public at large to act.
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Adams, John C., Darren K. Hayunga, and Stephanie J. Rasmussen. "The Restating of Financial Statements by REITs." Journal of Accounting, Auditing & Finance 32, no. 3 (October 13, 2015): 350–71. http://dx.doi.org/10.1177/0148558x15607748.
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This article is the first to examine financial restatements by real estate investment trusts (REITs). We provide a descriptive breakdown of the underlying causes of REIT restatements as well as overall and subsample analyses of stock market reactions to restatements from 2000 to 2011. REIT restatements occur for a large variety of accounting issues with the most common being expense-related (e.g., leases, depreciation). We find that the average market reaction for REIT restatements is negative 0.63%, which is less negative than non-REIT restatements. Further investigation reveals that a significant portion of REIT restatements result in large positive or negative returns, the most extreme of which appear to be a result of both the restatement and other news released simultaneously. Cross-sectional analysis shows that the most important determinant of restatement cumulative abnormal returns (CARs) is whether the restatement is a result of Securities and Exchange Commission (SEC) comment letters or involves an investigation by regulators, which lowers the CAR by 5.64%. Overall, the findings suggest that REIT restatements occur for a variety of reasons, and REIT investors place high value on quality financial statements.
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Crosby, Andrew. "(Re)mapping Akikodjiwan: Spatial Logics of Dispossession in the Settler-Colonial City." Urban History Review 49, no. 1 (September 22, 2021): 84–107. http://dx.doi.org/10.3138/uhr-2020-0007.
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This article examines the socio-spatial reproduction of settler-colonial urbanism at a contested site of urban development in Canada’s capital city. Akikodjiwan is an Algonquin sacred site on the Ottawa River (Kichi Sibi) and the location of a large-scale private real estate development project. Using the Access to Information Act, this article demonstrates how the Canadian government—led by the National Capital Commission—orchestrated a land transfer to the developers amid long-standing calls by the Algonquins to have the land returned. This article contributes to understandings of the positioning of the settler city at the center of the spatial logic of coloniality in Canada, as a site of the deployment of socio-spatial strategies of settler-colonial governance and property relations, but also as a site of Indigenous resistance. Transpiring in a purported climate of reconciliation, the remapping of Akikodjiwan demonstrates the ongoing spatial implications and role of place making in settler-colonial city making, where racialized logics and regimes of private property are mobilized in an attempt to dispossess and exclude Indigenous peoples from their lands, alongside the simultaneous transfer of thousands of settlers onto an Algonquin sacred site.
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Montgomery, Troy. "Cost Estimating - Make or Buy?" Muma Case Review 2 (2017): 1–24. http://dx.doi.org/10.28945/3657.
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Determining how a corporate real estate organization estimates its project costs is a big decision that impacts budgets, customers, and the bottom line. Our next management meeting is only a few days away. What recommendations should we make for improvement of cost estimating? Troy Montgomery, a consultant at Humana in April of 2015, was tasked with providing leaders of Humana’s corporate real estate group, Workplace Solutions (WPS), with an answer to how to provide early cost estimates on large construction projects. Should they create a solution internally, outsource development of a solution, or look to an existing solution to provide a “cost calculator”? There was so much variation in the types of projects WPS worked on, not to mention an assortment of internal clients they served. Such complexity made it virtually impossible to come to a straight forward recommendation. Humana was a leading health and well-being company focused on making it easy for people to achieve their best health with clinical excellence through coordinated care. When Humana needed a new or renovated office building, call center, pharmacy, or medical center they engaged the WPS team to manage the start to finish solution. Similar to any other large project, the end user was concerned with three things: time, cost, and quality. The initial questions from WPS internal clients were typically “How long is this project going to take and how much will it cost?” WPS managers believed they provided sufficient cost estimates once all of the planning activities were completed, contracts selected, and construction drawings finalized. However, they were curious if could provide better estimates at the initial onset of a new project, before all of the planning is complete. In late 2014 and early 2015 Montgomery led a small, cross-functional team of WPS associates through process improvement initiatives. The team had only been commissioned for six months and due to their success, WPS leaders challenged the team to identify additional improvement opportunities. Determining a solution to an issue like cost estimating would not only build the credibility of Montgomery’s team, but it would also open up new opportunities for additional improvements in the future. First, the team identified the current methodology for cost estimating within WPS. In parallel they researched cost estimating tools on the market and investigated best practices within the industry. Based on the team’s analysis, WPS leaders recognized they needed a solution in a short period of time. Should they task internal resources, purchase an out-of-the-box IT tool, or commission an external vendor to create a solution?
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Kameneva, A. N. "Socially Dangerous Consequences in the Norms on Economic Crimes: Problems of Recognition in the Law." Lex Russica, no. 5 (May 20, 2020): 53–63. http://dx.doi.org/10.17803/1729-5920.2020.162.5.053-063.
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The paper investigates the normative regulation of socially dangerous consequences of economic crimes set forth in Chapter 22 of the Criminal Code of the Russian Federation. A legislative structure of economic crimes is rather heterogeneous. Some of them are determined as formal (registration of illegal transactions with real estate — Art. 170; illegal organization and conduct of gambling — Art. 171.2, etc.); others are defined as economic (illegal obtaining of credit — Art. 176; abuse of securities issue — 185, etc.); and the third are defined as formal economic (illegal entrepreneurship — Art. 171; restriction of competition — Art. 178 et al.).The paper analyzes the negative aspects of including the criteria characterizing socially dangerous consequences in the norms-notes to Chapter 22 of the Criminal Code of the Russian Federation, determines the significance of criminological peculiarities of economic crimes in determining the extent of damage caused by economic crimes of different types; the influence of the nature and amount of damage established in the law on the exemption from criminal liability for the commission of economic crimes.It is concluded that a law-maker needs a more uniform approach to determining the types and sizes of consequences caused by economic crimes (types should be, as a rule,” economic”, and the size should be the same for all the crimes) and to the placement of quantitative indicators of consequences (in the note to Article 1 where sequences are specified); to achieving compliance with the rules of differentiation of responsibility in the construction of basic and qualified crimes (large and especially large scale of consequences should be indicate only for the latter); to imposing "unfavorable” sanctions from the point of view of the legal consequences of economic crimes, and, on the contrary, to giving a “favorable” character to the exemption from criminal responsibility under Art. 76.1 of the Criminal Code of the Russian Federation in comparison with the specified sanctions.
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Zahid, Muhammad, and Zulkipli Ghazali. "Corporate sustainability practices among Malaysian REITs and property listed companies." World Journal of Science, Technology and Sustainable Development 12, no. 2 (April 7, 2015): 100–118. http://dx.doi.org/10.1108/wjstsd-02-2015-0008.
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Purpose – The purpose of this paper is to examine the implementation of corporate sustainability (CS) practice by Malaysian Real Estate Investment Trusts (REITs) and property listed companies, following the three dimensional (economic, environmental, and social) framework of CS. Design/methodology/approach – A quantitative content analysis procedure was undertaken using 113 reports, including 23 REITs and 90 property companies. For the data collection company websites, annual reports, corporate social responsibility (CSR), and sustainability reports were employed. The global reporting initiative (GRI), reporting framework was used for data collection and recording. The content analysis examined the level of disclosures for three dimensions of sustainability, namely economic, social and environmental. Findings – The content analysis indicates that the majority of companies among the sample have their social responsibility and sustainability strategies for the satisfaction of stakeholders and legitimizing firm practices. However, there are variations in their approaches and reporting processes. Among the three dimensions, environmental disclosures are on its least and social dimension has priority in the level of disclosures. Though the overall reporting is low, but having upward trends over time. Research limitations/implications – This study has a limitation that it investigates the level of CS practices in REITs and property companies among Malaysian listed companies. The findings of the study are helpful for the government of Malaysia, practitioners, academia, researchers, banks, Bursa Malaysia, security commission and CEO’s of the listed companies to improve their organizational practices and reporting quality of CS. Originality/value – There has been limited literature on CS practices among Malaysian REITs and property industry. The previous studies have only focused top companies or a single dimension of CS, while this study addressing all the three dimensions of sustainability. This is the first study addressing all the three dimensions (economic, environmental, and social) of CS after the 10th Malaysian Plan (2010-2015). The study using a large sample of REITs and property companies during 2011-2013. The study will significantly add value to CS practices in emerging economies like Malaysia.
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Cajias, Marcelo. "Is there room for another hedonic model?" Journal of European Real Estate Research 11, no. 2 (August 6, 2018): 204–45. http://dx.doi.org/10.1108/jerer-07-2017-0025.
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Purpose This paper aims to explore the in-sample explanatory and out-of-sample forecasting accuracy of the generalized additive model for location, scale and shape (GAMLSS) model in contrast to the GAM method in Munich’s residential market. Design/methodology/approach The paper explores the in-sample explanatory results via comparison of coefficients and a graphical analysis of non-linear effects. The out-of-sample forecasting accuracy focusses on 50 loops of three models excluding 10 per cent of the observations randomly. Afterwards, it obtains the predicted functional forms and predicts the remaining 10 per cent. The forecasting performance is measured via error variance, root mean squared error, mean absolute error and the mean percentage error. Findings The results show that the complexity of asking rents in Munich is more accurately captured by the GAMLSS approach than the GAM as shown by an outperformance in the in-sample explanatory accuracy. The results further show that the theoretical and empirical complexities do pay off in view of the increased out-of-sample forecasting power of the GAMLSS approach. Research limitations/implications The computational requirements necessary to estimate GAMLSS models in terms of number of cores and RAM are high and might constitute one of the limiting factors for (institutional) researchers. Moreover, large and detailed knowledge on statistical inference and programming is necessary. Practical implications The usage of the GAMLSS approach would lead policymakers to better understand the local factors affecting rents. Institutional researchers, instead, would clearly aim at calibrating the forecasting accuracy of the model to better forecast rents in investment strategies. Finally, future researchers are encouraged to exploit the large potential of the GAMLSS framework and its modelling flexibility. Originality/value The GAMLSS approach is widely recognised and used by international institutions such as the World Health Organisation, the International Monetary Fund and the European Commission. This is the first study to the best of the author’s knowledge to assess the properties of the GAMLSS approach in applied real estate research from a statistical asymptotic perspective by using a unique data basis with more than 38,000 observations.
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Shahid, Muhammad Naeem, Malik Jehanzeb, Aamir Abbas, Ahsan Zubair, and Mahmood A. Hussain Akbar. "Predictability of precious metals and adaptive market hypothesis." International Journal of Emerging Markets 15, no. 5 (December 20, 2019): 1011–27. http://dx.doi.org/10.1108/ijoem-07-2018-0404.
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Purpose The purpose of this paper is to boost the existing literature on adaptive market hypothesis (AMH) as it first time links predictability of gold, silver and metal returns with AMH which permits the predictability of returns to vary over time. Design/methodology/approach To know whether commodity (gold, silver and metal) market is efficient or not, the commodity returns are observed by using appropriate linear time series tests (variance ratio test, runs test and auto-correlation test). To capture the varying efficiency of three commodities, the study employs subsamples of five years and all sub-samples are exposed to linear econometric tests to reveal how market efficiency (independency of returns) has behaved over time. Findings It is found that the commodity market (gold, silver and metal) is adaptive because fluctuation is observed in the market efficiency. Returns of all three commodities go under the periods of efficiency and inefficiency. Thus, AMH is the better description of behavior of commodity markets than traditional efficient market hypothesis. Research limitations/implications Choice of sub-sample in the study is the first limitation as the authors employ a sub-sample comprising five years. Second, commission, fee and taxes (transection cost) are ignored in the study. Finally, the results are reported on the basis of linear econometric tests. In future, longer time period sub-sample analysis is suggested by the study to explore the varying nature of the commodities. Moreover, rolling window analysis may be a more appropriate method to elucidate the idea of AMH in further research. It is further suggested that the method used in the study could be helpful and adapted to examine other commodities (metal and agriculture), bonds and equity markets around the world. Practical implications The study will provide a better investment model which can enable the investors to seek more returns in future. Moreover, this research can be extended to explore multiple issues like adaptive behavior of returns from crypto currencies, bonds, stocks and real estate investment trusts. Social implications As all the linear tests reveal that almost all the commodities show inefficient behavior in full sample period, it is clear that past prices widely would be helpful to predict the future prices at NYSE; furthermore, investors can use the time-varying information to reduce the risk of investment at NYSE. The study is helpful for individual investors as well as portfolio managers and brokers to forecast the prices on the bases of findings. Originality/value The paper identifies the need to study why behavior of commodity returns varies over time.
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Shy, Oz. "Real Estate Brokers and Commission: Theory and Calibrations." SSRN Electronic Journal, 2009. http://dx.doi.org/10.2139/ssrn.1475315.
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Gautier, Pieter A., Arjen Siegmann, and Aico van Vuuren. "Real-Estate Agent Commission Structure and Sales Performance." SSRN Electronic Journal, 2017. http://dx.doi.org/10.2139/ssrn.2975432.
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Gautier, Pieter A., Arjen Siegmann, and Aico van Vuuren. "Real-Estate Agent Commission Structure and Sales Performance." SSRN Electronic Journal, 2017. http://dx.doi.org/10.2139/ssrn.2977829.
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Nadel, Mark S. "A Critical Assessment of the Standard, Traditional Residential Real Estate Broker Commission Rate Structure." SSRN Electronic Journal, 2006. http://dx.doi.org/10.2139/ssrn.942348.
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Kurt, Cengiz, and Seda Hatice Kurt. "Expropriation and Valuation of Agricultural Lands." Asian Journal of Education and Social Studies, June 11, 2020, 12–20. http://dx.doi.org/10.9734/ajess/2020/v8i230217.
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Although the right to property is a constitutional right, the most common administrative process that terminates it is expropriation. The first condition that gives legal validity and legitimacy for the expropriation process to terminate the right to property is public benefit; The second condition is to determine the real value of the expropriated real estate and to pay this amount to the property owner in a reasonable time. Protection of the right to property can only be ensured if the fair value of the real property is determined. It is essential for the administrations to apply the procurement procedure first in expropriation. The determination of the purchase value is provided by the valuation commission formed by the administration. The valuation commissions should be based on the income to be obtained from the lands in accordance with the Expropriation Law No. 2942 in determining the land expropriation values. As a result of the fact that the valuation commissions do not include objective criteria in the valuation method with the income method, the real and fair value of the real estate cannot be reached and there is no agreement between the parties. It is important that members of the valuation commission are objective and knowledgeable in this regard. In this study, the principles regarding the application of the income method in determining the land expropriation values by the valuation commissions of the administration were examined and some suggestions were brought.