This paper aims to detail key findings from Jones Lang LaSalle's (JLL's) biennial Global Corporate Real Estate Trends (GCRES) 2013 study and highlight risks for corporate real…
Abstract
Purpose
This paper aims to detail key findings from Jones Lang LaSalle's (JLL's) biennial Global Corporate Real Estate Trends (GCRES) 2013 study and highlight risks for corporate real estate (CRE) departments arising from global trends.
Design/methodology/approach
JLL's second GCRES report is based on a survey conducted in 2012, concluding in December. Its findings are based on 636 responses from CRE executives spread across 39 countries, representing a 24 increase in respondents from the 2011 survey. The base sample used within the report covers 545 companies, each employing more than 1,000 people worldwide. Survey responses reflect the views of CRE leaders from a diverse range of sectors, domicile and operational locations, as well as companies of varied size.
Findings
The paper focuses on risks to the CRE function arising from the most significant trends, such as portfolio right-sizing in mature US and European markets versus growth opportunities in emerging markets. Such risks include excessive real estate cost cutting and lack of investment capital for revenue-enhancing workplace strategies; procurement-driven outsourcing decisions; the focus on cost-per-square-foot rather than more holistic productivity metrics; the growth of shared services; and the challenging of entering less-developed markets that have significantly less market transparency that mature regions. CRE professionals will gain valuable and timely insights into current trends, along with practical guidance for responding to these trends and risks.
Research limitations/implications
This paper focuses on global trends. However, mature and emerging markets tend to diverge in terms of trends and risks facing CRE executives. An individual country may diverge significantly from the overall global trend.
Practical implications
The global financial crisis increased the importance of CRE to CEOs as a tangible lever for enhancing revenue growth – even as cost-cutting has resulted in historic lows in the departmental budgets, and a slashed pool of in-house talent. Amid continuing global economic challenges, CRE executives now face new C-suite demands to dramatically affect the culture, productivity and performance of their companies.
Originality/value
This study is one of very few that includes data about CRE outsourcing trends, the growth of the shared services model and numerous other trends affecting CRE executives.
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The purpose of this paper is to explore the idea of expatriate adjustment through naturally occurring data. Specifically, through an investigation of three e‐mails sent to the…
Abstract
Purpose
The purpose of this paper is to explore the idea of expatriate adjustment through naturally occurring data. Specifically, through an investigation of three e‐mails sent to the author by a friend, Doug, the paper explores the notion that adjustment is a fluid concept and that through qualitative research methods it is possible to appreciate the expatriate experience in the context of an expatriate's “whole life” of experiences. This is in contrast to positivist approaches to the study of adjustment which offer limited snapshots of adjustment at particular moments in time.
Design/methodology/approach
The paper investigates three e‐mails sent by Doug to the author. The e‐mails constitute a form of naturally occurring data, and through forms of narrative analysis the e‐mails are able to be examined to throw light on the process of expatriate adjustment.
Findings
The paper highlights ways in which qualitative research methods generally, and specifically when used in relation to expatriates, enable a fuller understanding of the processes of “adjustment” that expatriates experience and its relationship to their life as a “work in progress”. This type of research approach and analysis complements the more positivist study of expatriates. In some aspects it supports research findings on adjustment, but it serves to humanize the independent expatriate and their experience.
Research limitations/implications
The research is a case study of only a single subject. The paper suggests the potential for using naturally occurring data in the study of expatriates and independent expatriates in particular.
Practical implications
Stories of the experiences of expatriation offer insightful and “real” access to the lived experience of the expatriate. In this sense, they can be much more powerful than other forms of cross‐cultural training.
Originality/value
The paper highlights the importance of naturally occurring data and the need to consider “whole lives” in the past and present, of research “participants”.
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Mark Dooris, Susan Powell, Doug Parkin and Alan Farrier
This paper reports on a research study examining opportunities for and characteristics of effective leadership for whole university approaches to health, well-being and…
Abstract
Purpose
This paper reports on a research study examining opportunities for and characteristics of effective leadership for whole university approaches to health, well-being and sustainability.
Design/methodology/approach
A multi-method qualitative approach was used: semi-structured interviews and focus groups were conducted with vice chancellors (n = 12) and UK Healthy Universities Network members (n = 10) and online questionnaires were completed by non-UK network coordinators (n = 6) and non-UK health promoting university coordinators (n = 10), supplemented with two interviews.
Findings
A total of two overarching themes emerged: opportunities to secure and sustain effective senior-level leadership and characteristics of effective senior-level leadership. Sub-themes under “Opportunities” included aligning work with core business so that health and well-being becomes a strategic priority, harnessing the personal qualities and values of senior-level advocates and using charters and policy drivers as levers to engage and catalyse action. Sub-themes under “Characteristics” included commitment to whole university/whole system working; an understanding that health underpins core business and is a strategic priority; enabling effective coordination through appropriate resourcing; balancing top-down and distributed leadership models and complementing strategic leadership with cultural change.
Originality/value
This study is one of the first to explore leadership in relation to health promoting universities. Drawing on the findings, it presents a guide to developing and securing effective leadership for health promoting universities – of value to researchers, practitioners and policymakers worldwide.
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Gisung Moon, Hongbok Lee and Doug Waggle
The authors investigate how the stock market reacts to financial restatements using the restatements data from the United States Government Accountability Office (GAO-06-678). In…
Abstract
Purpose
The authors investigate how the stock market reacts to financial restatements using the restatements data from the United States Government Accountability Office (GAO-06-678). In particular, the purpose of this paper is to examine the long-run equity performance of the restating firms, for holding periods of one to five years after the announcements of restatements.
Design/methodology/approach
This paper measures the long-run stock performance of restating firms with the buy-and-hold abnormal returns and time-series regression analyses based on Fama–French’s (1993) three-factor model and Carhart’s (1997) four-factor model.
Findings
The authors find that restating firms significantly underperform in the long run compared with their peers matched by industry, size and book-to-market. Restating firms’ underperformance is confirmed with time-series regression analyses based on Fama–French’s (1993) three-factor model and Carhart’s (1997) four-factor model. Further, the authors find the negative long-run abnormal performance of restating firms is primarily driven by large firms. The authors also report that self-prompted restatements and improper revenue accounting-triggered restatements result in worse long-run abnormal performance.
Originality/value
This paper is the first paper that thoroughly investigates the long-run stock returns of the firms that restate financial statements by fully considering the size effect.
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Yaw A. Debrah and Ian G. Smith
Presents over sixty abstracts summarising the 1999 Employment Research Unit annual conference held at the University of Cardiff. Explores the multiple impacts of globalization on…
Abstract
Presents over sixty abstracts summarising the 1999 Employment Research Unit annual conference held at the University of Cardiff. Explores the multiple impacts of globalization on work and employment in contemporary organizations. Covers the human resource management implications of organizational responses to globalization. Examines the theoretical, methodological, empirical and comparative issues pertaining to competitiveness and the management of human resources, the impact of organisational strategies and international production on the workplace, the organization of labour markets, human resource development, cultural change in organisations, trade union responses, and trans‐national corporations. Cites many case studies showing how globalization has brought a lot of opportunities together with much change both to the employee and the employer. Considers the threats to existing cultures, structures and systems.
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David P. Stowell and Evan Meagher
Gary Parr, deputy chairman of Lazard Freres & Co. and Kellogg class of 1980, could not believe his ears. “You can't mean that,” he said, reacting to the lowered bid given by Doug…
Abstract
Gary Parr, deputy chairman of Lazard Freres & Co. and Kellogg class of 1980, could not believe his ears. “You can't mean that,” he said, reacting to the lowered bid given by Doug Braunstein, JP Morgan head of investment banking, for Parr's client, legendary investment bank Bear Stearns. Less than eighteen months after trading at an all-time high of $172.61 a share, Bear now had little choice but to accept Morgan's humiliating $2-per-share, Federal Reserve-sanctioned bailout offer. “I'll have to get back to you.” Hanging up the phone, Parr leaned back and gave an exhausted sigh. Rumors had swirled around Bear ever since two of its hedge funds imploded as a result of the subprime housing crisis, but time and again, the scrappy Bear appeared to have weathered the storm. Parr's efforts to find a capital infusion for the bank had resulted in lengthy discussions and marathon due diligence sessions, but one after another, potential investors had backed away, scared off in part by Bear's sizable mortgage holdings at a time when every bank on Wall Street was reducing its positions and taking massive write-downs in the asset class. In the past week, those rumors had reached a fever pitch, with financial analysts openly questioning Bear's ability to continue operations and its clients running for the exits. Now Sunday afternoon, it had already been a long weekend, and it would almost certainly be a long night, as the Fed-backed bailout of Bear would require onerous negotiations before Monday's market open. By morning, the eighty-five-year-old investment bank, which had survived the Great Depression, the savings and loan crisis, and the dot-com implosion, would cease to exist as an independent firm. Pausing briefly before calling CEO Alan Schwartz and the rest of Bear's board, Parr allowed himself a moment of reflection. How had it all happened?
An analysis of the fall of Bear Stearns facilitates an understanding of the difficulties affecting the entire investment banking industry: high leverage, overreliance on short-term financing, excessive risk taking on proprietary trading and asset management desks, and myopic senior management all contributed to the massive losses and loss of confidence. The impact on the global economy was of epic proportions.
Details
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Keywords
Some of Canada’s largest provincial governments have seen their approval ratings fall in the wake of the third wave, although there has been little impact on the Liberal…
Details
DOI: 10.1108/OXAN-DB261841
ISSN: 2633-304X
Keywords
Geographic
Topical
Sean Chabot and Stellan Vinthagen
The emerging synthesis between nonviolent action and contentious politics studies has yielded important insights. Yet it also reproduces the dichotomy between politics and culture…
Abstract
The emerging synthesis between nonviolent action and contentious politics studies has yielded important insights. Yet it also reproduces the dichotomy between politics and culture that continues to haunt both fields. Extending recent work by Jean-Pierre Reed and John Foran, our contribution introduces the political cultures of nonviolent opposition concept to forge a new synthesis, one that recognizes the politics of nonviolent culture and the culture of nonviolent politics. We apply our theoretical framework to two empirical cases, the Indian independence movement and the Landless Workers Movement in Brazil (known as Movimento Sem Terra or MST), and conclude with ideas for further research on political cultures of nonviolent opposition.
This chapter draws on my affective memories and personal history of fandom and fascination with the celebrity body of Sharon Stone and with the gendered narratives she embodied…
Abstract
This chapter draws on my affective memories and personal history of fandom and fascination with the celebrity body of Sharon Stone and with the gendered narratives she embodied through playing a particular character type of the icy cool, feminine trickster who seduces a dominant or hypermasculine male action hero in Hollywood films of the 1990s. Through close analysis of images, scenes and dialogue, the chapter explores the construction of the Sharon Stone persona and character type within action-thriller film case studies of Total Recall, Basic Instinct, The Specialist and Last Action Hero. These films are positioned as pedagogical tools as well as pleasurable texts, engaging theory around fandom and ‘fictional realities’ (see also Frauley, 2010) to intentionally blur the boundaries between popular culture texts and the ‘real’ life of fans. From a fan perspective, this chapter explores the emancipatory potential of these filmic narratives and moral pedagogies; reconsidering what the feminine Sharon Stone character teaches the masculine action hero within the film, and what she also teaches us beyond the film. For while the rise and fall of the Sharon Stone character in action-thriller narratives is typically constructed in misogynistic moral terms anchored in eroticised violence, it is the strength, resilience, power and transcendence promised by her embodied star image and its seductive, defiant, idealized femininity which the fan remembers, and which echoes still in fantasy futures beyond the filmic text.