Search results
1 – 10 of 135Hassan Shuaibu Liman, Abdul-Rasheed Amidu and Deborah Levy
The complexity of property valuation, coupled with valuers’ cognitive limitations, makes some degree of error inevitable in valuations. However, given the crucial role that…
Abstract
Purpose
The complexity of property valuation, coupled with valuers’ cognitive limitations, makes some degree of error inevitable in valuations. However, given the crucial role that valuations play in the efficient functioning of the economy, there is a need for continuous improvement in the reliability of reported values by enhancing the quality of the decision-making process. The purpose of this paper is to review previous research on valuation decision-making, with particular interest in examining the approaches to improving the quality of valuation decisions and identifying potential areas for further research.
Design/methodology/approach
The paper adopts a narrative approach to review 42 research articles that were obtained from Scopus and Web of Science databases and through author citation searches.
Findings
Our findings show that existing literature is skewed towards examining the use of technology in the form of decision support systems (DSS), with limited research attention on non-technological (i.e. behavioural) approaches to improving the quality of valuation decisions. We summarise the non-technological approaches and note that much of the discussions on these approaches often appear as recommendations arising from other studies rather than original investigations in their own rights.
Practical implications
We conclude that studies investigating the effectiveness of the non-technological approaches to improving valuation decision-making are lacking, providing various avenues for further research.
Originality/value
This paper presents the first attempt to provide a comprehensive overview of non-technological approaches to improving the quality of valuation decisions.
Details
Keywords
Abdul-Rasheed Amidu, Deborah Levy, Muhammed Bolomope and Hassan Shuaibu Liman
To inform ways of improving valuation quality, this study seeks to understand the lived experiences of practising valuers regarding the challenges of conducting quality valuations.
Abstract
Purpose
To inform ways of improving valuation quality, this study seeks to understand the lived experiences of practising valuers regarding the challenges of conducting quality valuations.
Design/methodology/approach
This study adopts a qualitative strategy involving 19 semi-structured interviews with valuers in New Zealand. The interview data were analysed using progressive comparative analysis and the constant comparative method, which yielded comprehensive and well-founded conclusions.
Findings
The data analysis revealed several challenges that hinder the improvement and maintenance of valuation quality. These challenges were categorised into nine key areas, covering a wide range of issues, including a wide scope of practice, lack of experienced valuers, inappropriate use of graduate valuers, stakeholder expectations, access to relevant information, differing approaches, valuer attitudes and dissatisfaction with compensation.
Practical implications
The findings of this study have the potential to inform the valuation profession and other stakeholders about the challenges that practising valuers face in conducting quality valuations, which can ultimately lead to improvements in the valuation process.
Originality/value
This study contributes to the valuation literature, by highlighting the lived experiences of valuers in terms of the potential and challenges pertaining to valuation quality improvement. This has been an area that has received limited attention in the past, and an understanding of these issues has the potential to approach valuation quality in new and innovative ways.
Details
Keywords
Ikenna Cosmos Chukwudumogu, Deborah Levy and Harvey Perkins
The purpose of this paper is to provide a nuanced understanding of the complex factors driving the decision of commercial property owners (investors and developers) to stay and…
Abstract
Purpose
The purpose of this paper is to provide a nuanced understanding of the complex factors driving the decision of commercial property owners (investors and developers) to stay and rebuild after a major disaster. The study examines what happens in the post-disaster rebuild of a central business district (CBD) from the perspective of commercial property owners in Christchurch, New Zealand.
Design/methodology/approach
An interpretive approach is adopted to understand what it takes to rebuild in a post-disaster environment through the lens and experiences of property owners. The study has observed the significant physical changes that have occurred in the Christchurch CBD as a result of the earthquakes. For this study, qualitative data were obtained through semi-structured interviews from 20 purposively identified property owners rebuilding the Christchurch CBD. The interview findings were subjected to a thematic analysis used to provide a factual way of characterising the viewpoints of those interviewed.
Findings
The findings have highlighted that the decision-making behaviour of property owners in Christchurch’s CBD post-disaster rebuild has been driven significantly by an emotional attachments to people and place.
Practical implications
The global trend in increasing destruction from natural disasters has raised the need for more efficient and effective post-disaster responses and activities. The paper has developed a knowledge base required to inform public policy and advice all those involved in the rebuilding of cities after a major disaster.
Originality/value
This paper contributes to the property literature and debates about the decision-making behaviour of commercial property owners who are engaged in rebuilding after a major natural disaster. The qualitative methodology used presents a novel approach to property research. The findings challenge the underlying premises of much of the mainstream property literature on normative investment behaviour and decision making.
Details
Keywords
Raewyn Lesley Hills, Deborah Levy and Barbara Plester
Meetings with colleagues are an essential activity in workplace collaboration. The iterative nature of collaborative work demands spaces that team members can access quickly and…
Abstract
Purpose
Meetings with colleagues are an essential activity in workplace collaboration. The iterative nature of collaborative work demands spaces that team members can access quickly and easily. Creating suitable meeting spaces will become more critical if the hybrid work model continues and the workplace environment becomes the hub for face-to-face collaborative time, learning and training. Workspace and fit-out is expensive so it is crucial that the investment in meeting spaces supports employees’ collaboration activities.
Design/methodology/approach
This paper presents a case study of a corporate organisation undertaken in New Zealand to investigate how employees from two business units use their workspace to collaborate within their own team and across other teams in their organisation. The study uses ethnographic techniques, including participant observation and in-depth face-to-face interviews.
Findings
The findings show that the frequency and nature of small group work in collaboration was underestimated in the initial planning of the new workspace. Although participants found the design and fit-out of the formal meeting rooms supportive of collaborative work, the meeting rooms were in high demand, and it was difficult to find a room at short notice. The breakout spaces were confusing because they lacked key design attributes identified by the participants as conducive to small group work. Design shortfalls together with fit-out features perceived as supportive of collaborative work are identified.
Originality/value
The research reports on employees’ perceptions and experiences across two functionally diverse business units, reflecting their different needs and concerns.
Details
Keywords
Muhammed Bolomope, Abdul-Rasheed Amidu, Olga Filippova and Deborah Levy
Decision-making behaviour of property investors has been the focus of real estate research for decades. Yet, there is no consensus on a generally accepted behavioural model that…
Abstract
Purpose
Decision-making behaviour of property investors has been the focus of real estate research for decades. Yet, there is no consensus on a generally accepted behavioural model that suits all market conditions and investment peculiarities. While scholars have emphasized the significance of rational reasoning and cognitive influences on property investment decision-making preferences, gaps remain regarding the impacts of market disruptions on property investment decision-making behaviour. This paper, therefore, explores the institutional framework as a theoretical basis for understanding property investment decision-making behaviour amidst market disruptions.
Design/methodology/approach
This paper reports a systematic review of pertinent theories that have explored decision-making behaviour. Commencing with an index search of high impact peer-reviewed journals, a snowball identification of relevant citations was also deployed to assemble theories from the field of psychology, sociology, economics and urban studies. Although a preliminary dataset of 82 papers with relevant decision-making theories was identified, the final dataset comprised 27 papers and 7 theories. The identified theories were reviewed accordingly.
Findings
The outcome of this study suggests that the institutional framework offers a robust approach to property investment decision-making amidst market disruptions, especially because it recognizes the dynamism in the investment environment and the roles of formal and informal rules that exist therein.
Originality/value
This study advances the current understanding of property investment decision-making behaviour by recognising the dynamism of the investment environment and how factors such as principles, laws, tradition and routines can lead to an established and legitimate standard of reasoning. By integrating both rational and cognitive attributes, the study provides a holistic perspective to property investors' decision-making behaviour in response to market disruptions.
Details
Keywords
The purpose of paper is to investigate the dissatisfaction and what specifically prompts multi-owned housing owners to change their body corporate management provider. Globally…
Abstract
Purpose
The purpose of paper is to investigate the dissatisfaction and what specifically prompts multi-owned housing owners to change their body corporate management provider. Globally there has been a substantial growth reported in the number of residents living in multi-owned housing in recent years. There is increasing evidence that residents in these developments are experiencing dissatisfaction and frustration especially with the service received from their body corporate management company.
Design/methodology/approach
The paper includes a review of both the body corporate literature and customer switching literature which serves to inform the research. The investigation takes the form of a qualitative study comprising eight in-depth one-to-one interviews with residential body corporate owners who have recently switched to an alternative body corporate management provider.
Findings
The dissatisfaction experienced by body corporate owners leading them to change management companies bears a close similarity to the retail banking industry. The interviews record highly emotive responses from interviewees and the desire for an improved quality of service and better value for money from their service provider. These findings allow a deeper understanding of the outcome of studies that have been carried out previously in England and New Zealand.
Practical implications
The findings will assist directors of body corporate companies, property management and real-estate companies to understand the needs and wants of their clients and may also benefit property developers in their selection of a body corporate management company and legislators in providing a suitable legal framework.
Originality/value
This paper provides in-depth insights into switching behaviour within the context of body corporate management companies which has not before been published within academic journals.
Details
Keywords