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This paper analyses the determinants of key inputs for the explicit discounted cash flow (DCF) or the implicit capitalisation models, namely the discount rates and the capitalisation rates. We also study the factors affecting the implied growth rate of the net operating income (NOI).

We make use of a rich database for the commercial real estate market in the US that covers a long time period (2002–2024) and over 60 metropolitan markets. Given that the figures are appraisal-based, we use a common desmoothing approach and analyse the determinants of discount rates, capitalisation rates and growth rates using regression analysis.

On average, the discount rate in gateway markets is 89 basis points lower than in non-gateway markets. A similar difference is observed for capitalisation rates (93 basis points). Inflation has an immediate negative impact on capitalisation and discount rates due to the delayed adjustment of the rental income, but the effect turns positive over time. With a lag, real GDP growth reduces both rates, as expectations of economic growth reduce risk premia. Real interest rates consistently increase capitalisation, discount and growth rates through higher borrowing costs and portfolio reallocations.

The investment method to valuation is widely used in practice. By shedding additional light on the determinants of key inputs when using the explicit DCF of implicit capitalisation models, namely the discount and capitalisation rates, the results of this study should provide important information to appraisers and policymakers.

This paper provides a comprehensive analysis of the determinants of key inputs needed when appraising a commercial real estate property with an income approach. In particular, it not only explores the impacts of macroeconomic variables on discount and capitalisation rates but also those of various types of properties. As such, the results of this study should have important implications in practice.

The use of statistical methods in the field of real estate appraisals presents a trade-off between the efficiency of the estimates (that would require the use of sophisticate econometric models) and the ease of the economic interpretation of the outcomes (that characterises the hedonic pricing models). This paper shows that multilevel modelling (MLM) can represent a suitable solution to this trade-off.

This paper uses the so-called “multilevel modelling” (henceforth MLM). MLM can represent a further step forward in the use of statistical methods in property appraisals. MLM is easy to implement and the MLM estimates have a clear economic meaning. Furthermore, MLM provides more efficient estimates of hedonic prices (the prices of housing attributes) with respect to standard hedonic pricing models. Finally, MLM is particularly suitable for the housing market analysis, where the feature “location” plays a key role.

For the Italian context, characterised by many “benchmark locations” (small municipalities that share similar geographic, historic, and socioeconomic characteristics), the paper finds that multilevel modelling (MLM) is needed to correctly estimate the hedonic prices also in a micro-area.

MLM allows to further enhance the key role of “location”. Location is indeed used as the “grouping variable” in MLM, instead of being treated as a generic housing attribute in hedonic pricing models. When the benchmark locations are many, therefore, MLM represents a very effective compromise between the estimates’ efficiency and the ease of outcomes’ economic interpretation.

Unlike the related literature that, basically, use MLM to investigate what are the main determinants (levels) of housing prices, this paper uses MLM to make more efficient the estimation of hedonic prices.

Red Riding Hood is said to have been assembled from folktales that pre-date the collector Charles Perrault's 1697 re-telling and initial publishing (Dundes, 1989; Zipes, 1993). Since then, it is a story that has been re-told and re-imagined many times in various media contexts, with Beckett suggesting that it is one of the most familiar icons of Western culture, and a ‘highly effective intertextual referent’ (Beckett, 2002, p. XVI). Even though this story has been generally regarded as a children's tale, adult themes of sexuality and transgression have been explored in modern re-conceptions. In this chapter, we examine the representation of gender and masculinity in commercial media output: the 2011 American film Red Riding Hood (Hardwicke, 2011) and the pilot episode of the NBC series Grimm (2011). In Red Riding Hood, a romantic horror film, the male characters may be regarded as satellites that cluster around the female protagonist, whereas in Grimm, through its generic fusion of police procedural and horror genres, the text plays upon strong established examples of traditional male roles alongside more nuanced and contemporary representations of masculinity. Our analysis explores themes of transformation and heteronormativity and the extent to which the texts challenge or conform to traditional tellings.

Using descriptions from participants of ten Australian Football League (AFL) Club boards, the authors offer a rare, in-depth account of board member perceptions of interpersonal relationships between board members and the relational conflict evident. These findings suggest that interpersonal behaviours related to egos, social awareness, transparency and trust, ultimately leads to dysfunctional conflict.

This paper examined the leadership influence on board dysfunctional conflict using the concept of authentic leadership (AL). The authors dismantled board member interpersonal dynamics to explore whether AL may alleviate the issues associated with dysfunctional relational conflict.

In addition, we highlighted the President has a key leadership role, whereby if they are characterised by AL attributes, they can facilitate higher levels of trust amongst board members and ultimately minimise board fragmentation.

Practically, our findings assist boards to identify some of the behavioural antecedents to dysfunctional relationships, therefore assisting leaders to attenuate their influence on board fragmentation and improve board functioning.

The purpose of this study is to identify managerial perceptions, as well as individual and organizational contingencies, that influence the use of balanced scorecard (BSC) among SMEs.

This paper adopts a mixed methods approach to study the use of the BSC from a survey database of 414 SMEs across several industries in Portugal.

This paper shows the perceived benefits, reasoning and obstacles that managers face when using the BSC in SMEs. The BSC is not the first choice for strategic management control of most firms in the sample. Most SMEs in this study have an explicitly formulated business strategy. The results show that it is possible to implement the BSC in SMEs without a formalized strategy. Such findings seem to suggest that the use of the BSC may stimulate the formulation of strategies for those firms.

The use of fuzzy-set qualitative comparative analysis limits the generalization of the findings; nonetheless, the transparency of the report enables replication without restrictions.

This paper proposes that the size of the firm and the characteristics of the manager may compensate for the absence of a strategy to guide BSC use.

This paper advises a match between the stage of development of the SMEs strategy and the gender of the manager, which may have implications for recruitment purposes.

This study reports alternative configurations of individual and organizational conditions that lead to the use of the BSC in SMEs as well as configurations that prevent its use.

El propósito de este estudio es identificar las percepciones de los gerentes, así como las contingencias individuales y organizacionales, que influyen en el uso del BSC entre las PYMEs.

Adoptamos un enfoque de métodos mixtos para estudiar el uso del BSC a partir de una base de datos de encuestas de 414 PYMEs de varias industrias en Portugal.

Mostramos los beneficios percibidos, el razonamiento y los obstáculos que enfrentan los gerentes al utilizar el BSC en las PYMEs. El BSC no es la primera opción para el control de gestión estratégica de la mayoría de las empresas de la muestra. La mayoría de las PYMEs en este estudio tienen una estrategia comercial explícitamente formulada. Los resultados muestran que es posible implementar el BSC en PYMEs sin una estrategia formalizada. Estos hallazgos parecen sugerir que el uso del BSC puede estimular la formulación de estrategias para esas empresas.

Este estudio reporta configuraciones alternativas de condiciones individuales y organizacionales que conducen al uso del BSC en las PYMEs, así como configuraciones que impiden su uso.

El uso de la fsQCA limita la generalización de los hallazgos; no obstante, la transparencia del informe permite replicarlo sin restricciones.

Proponemos que el tamaño de la empresa y las características del gerente pueden compensar la ausencia de una estrategia que oriente el uso del BSC.

Aconsejamos hacer coincidir la etapa de desarrollo de la estrategia para las PYMEs y el género del gerente, lo que puede tener implicaciones a efectos de contratación.

O objetivo deste estudo é identificar as perceções dos gestores, bem como as contingências individuais e organizacionais, que influenciam o uso do BSC entre as PMEs.

Adotamos uma abordagem de métodos mistos para estudar a utilização do BSC a partir de uma base de dados de inquérito a 414 PMEs de diversas indústrias em Portugal.

Mostramos os benefícios percebidos, o raciocínio e os obstáculos que os gestores enfrentam ao usar o BSC nas PMEs. O BSC não é a primeira escolha para o controle estratégico de gestão da maioria das empresas da amostra. A maioria das PMEs neste estudo tem uma estratégia empresarial explicitamente formulada. Os resultados mostram que é possível implementar o BSC nas PME sem uma estratégia formalizada. Tais resultados parecem sugerir que a utilização do BSC pode estimular a formulação de estratégias para essas empresas.

Este estudo relata configurações alternativas de condições individuais e organizacionais que levam à utilização do BSC nas PMEs, bem como configurações que impedem a sua utilização.

O uso do fsQCA limita a generalização dos resultados; no entanto, a transparência do relatório permite a replicação sem restrições.

Propomos que o tamanho da empresa e as características do gestor podem compensar a ausência de uma estratégia para orientar o uso do BSC.

Aconselhamos uma correspondência entre o estágio de desenvolvimento da estratégia para as PMEs e o género do gestor, o que pode ter implicações para efeitos de recrutamento.

We use data from millions of online job postings to construct monthly estimates of annual growth in advertised wages in the US, UK, France, Germany, Ireland, Italy, the Netherlands, and Spain from 2019 to 2022. The resulting wage growth tracker is a source of timely and forward-looking data on the wages of the marginal worker and serves as a useful leading indicator of momentum in wage dynamics. We show that the online job postings data benchmarks well against official sources on job vacancies, new hires, and wage levels. In both Europe and the US, growth in advertised wages accelerated sharply after the pandemic. Granular data shows a heterogeneous pattern of post-pandemic wage growth, with lower-paid jobs experiencing stronger wage growth in most of the countries in our sample. We attribute this to stronger labor demand for lower-paid jobs coming out of the pandemic.

This paper investigates the impact of various leadership styles on the professionalization and subsequent performance of family businesses.

Using a survey method and employing a partial least squares approach to structural equation modeling, we tested our model and analyzed the collected data based on the responses of 216 managers in Iran.

Our research demonstrates that professionalization mediates the relationship between leadership style and performance. Moreover, our findings show that the participative leadership style is the most effective option for family businesses seeking to achieve professionalization and improve performance.

First, the sample used in this study was drawn from a single country, namely Iran. Second, although we adhered to established practices for measuring financial performance, future research could explore alternative dimensions of performance, including non-financial goals. Third, we did not investigate the impact of different leadership styles on each dimension of professionalization.

These findings provide valuable insights for family business managers seeking to adopt a suitable leadership style to achieve professional management and realize favorable outcomes.

Our study suggests that examining the potential impact of leadership styles on professionalization can provide clarity amidst mixed findings regarding the influence of professionalization on firm performance. Additionally, we challenge the oversimplified categorization of professionalization and argue for a multifaceted view, contending that professionalization comprises various dimensions acting concurrently and potentially mediates the effect of leadership styles on family business performance.