Benedetto Manganelli, Marco Vona and Pierfrancesco De Paola
The purpose of this study is the evaluation of the cost and benefits of earthquake protection of buildings to verify whether the legislative push, through tax incentives, will…
Abstract
Purpose
The purpose of this study is the evaluation of the cost and benefits of earthquake protection of buildings to verify whether the legislative push, through tax incentives, will produce results and lead to a redevelopment of private real estate assets.
Design/methodology/approach
Through contingent valuation, this research aims to measure the propensity of homeowners to invest in the seismic security of their properties. The sample of homeowners was selected in a southern Italy city, which was characterized by a medium-high seismic hazard. The willingness to pay, once made independent from the family income, was compared with the actual cost of a seismic retrofitting technique to assess its cost-effectiveness.
Findings
The analysis developed on an example case shows that the economic sustainability of the intervention is only verified when considering the current tax incentives for this type of intervention.
Practical implications
Choosing to introduce a system to compulsory insurance against seismic risk could certainly be a strong incentive for the implementation of retrofitting interventions on private real estate assets. In this direction, investigations like this can be fundamental to establish the fair risk premium.
Originality/value
The need for effective seismic risk mitigation policies is also based on the growing awareness of the, often fatal, effects of seismic events, emphasized by the recent medium and high intensity events that hit Italy. The issue of the security of residential buildings is therefore a very topical issue in view of their high seismic vulnerability and the vast number of buildings requiring major seismic retrofitting. Therefore, the propensity of owners to intervene in improving the seismic performance of their properties can be crucial in seismic risk mitigation.
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Benedetto Manganelli and Francesco Tajani
This paper aims to propose a management model of public assets within public-private partnerships which can be applied to properties subject to a possible requalification through…
Abstract
Purpose
This paper aims to propose a management model of public assets within public-private partnerships which can be applied to properties subject to a possible requalification through the redevelopment and/or modification of the intended use.
Design/methodology/approach
The logic developed is described by an algorithm which borrows the mathematical tools of Operations Research to identify the solution that maximises the utility functions of the parties related to the requalification and management of a public property. The unknowns of the model are the price and concession period, while the constraints reflect the specific and reciprocal conveniences of the actors involved.
Findings
The benefits for the private investor are a reduction of the business risk, related to the lower financial outlay required by the investment, and therefore easier access to credit from banks. For the public administration, an increase in the demand of the property offered, savings in the property management costs, along with the preservation of public property. This aspect of no small importance where there is the fear of breaking up public property which local communities attach a high cultural and historic value.
Practical implications
This leads to a logical support to public administrations involved in the requalification of property assets.
Originality/value
This paper presents a strategic approach with long-term prospects, which interprets in a different way a pure concession model, which has a greater flexibility and articulation and also enriches the framework of the projects (public-private) considered necessary for the requalification of public property as well as possible urban transformation projects.
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Rocío Rodríguez, Nils Høgevold, Francisco-Jose Molina-Castillo and Goran Svensson
This paper aims to examine the effect of social disruption on the use of technologies for digitizing business-to-business (B2B) processes. The aim is to assess how digitalization…
Abstract
Purpose
This paper aims to examine the effect of social disruption on the use of technologies for digitizing business-to-business (B2B) processes. The aim is to assess how digitalization technologies (DT) may impact corporate performance (CP) in B2B settings.
Design/methodology/approach
The methodology is based on a questionnaire survey in Norway, and a deductive research design. A total of 216 usable questionnaires out of 356 were returned, generating a response rate of 60.6%.
Findings
This study shows that there is an effect of social disruption on DT (such as digital communication tools, social media and customer relationship management systems) in B2B settings that may impact CP.
Research limitations/implications
This study indicates that the use of technologies to digitize B2B processes may enhance CP when social disruption occurs.
Practical implications
This study offers insights to companies that need help in adapting their business processes to the changing social and technological environment. This study also highlights the importance of digitalization for business survival in the marketplace and society.
Originality/value
This study sheds light on the effect of social disruption on DT and provides opportunities for managing CP.