Konstantinos J. Liapis, Manolis S. Christofakis and Harris G. Papacharalampous
The main purpose of this paper is the formulation of an integrated procedure for the evaluation of real estate investments.
Abstract
Purpose
The main purpose of this paper is the formulation of an integrated procedure for the evaluation of real estate investments.
Design/methodology/approach
The main methods for evaluation of real estate investments are presented initially. The paper analyses both the academic and the professional points of view of all these methods and compares them to each other, denoting that they could be implemented in the evaluation of real estate projects. Also, it presents the internal and external variables that influence the evaluation.
Findings
The primary focus is the calculation of the investor's interest (required return) in relation to the risk of the investment. In this framework the most common financial methods that have been used at an academic level in an attempt to estimate the risk‐return ratio of an investment are used and relevant proposals based on the available data and practices are made. The use of these components in a real estate investment in the Greek real estate market is tested empirically, giving future trends and prospects.
Originality/value
A new integrated procedure for the evaluation of real estate investments is proposed. This methodological approach helps in effective property management and decision making in real estate projects.
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Vui-Yee Koon and Yuka Fujimoto
Organizations that prioritize humanistic responsibility create an environment of value for their employees as the most important stakeholders. However, despite the numerous…
Abstract
Purpose
Organizations that prioritize humanistic responsibility create an environment of value for their employees as the most important stakeholders. However, despite the numerous corporate social responsibility (CSR) models and research highlighting stakeholder considerations, the long-standing “social” aspect of CSR has inhibited its humanism responsibility. In response, this study proposes to move beyond the antecedents and outcomes of CSR to explore how perceived CSR can promote its humanistic responsibility both inside and outside of organizations.
Design/methodology/approach
The authors followed Sendjaya et al. (2008) ’s methodology for developing and validating the perceived corporate humanistic responsibility (CHR) scale. Study 1 validated the CHR's content. Study 2 established the measure’ reliability, internal consistency, unidimensionality and discriminant validity. The authors describe each of the studies in the forthcoming sections.
Findings
This research has produced a comprehensive set of perceived CHR items for business leaders based on earlier CHR/humanism concepts. Through the deconstruction of CHR theory, the granular conceptualization provides employee-centric workplaces, healthy internal communication, holistic compensation, CSR-committed behaviors and holistic training and development, equipped to assess how their CHR fosters humanistic workplaces that encourage socially responsible behaviors. This, in turn, would have an immense impact on employee well-being that, in turn, flourishes societal well-being.
Research limitations/implications
Although the perceived CHR scale's psychometric properties were confirmed using multiple tests ranging from qualitative to quantitative studies, this newly developed scale requires further investigation to explore whether internal or external relevance factors affect organizations' humanistic responsibility.
Practical implications
CSR is about caring for humans and the planet. The authors have unpacked what and how the human side of CSR operates for business leaders to advance their CHR practices and responsible management learning. The perceived CHR dimensions can guide business leaders to promote multidimensional humanistic behaviors inside and outside workplaces that transcend how to strengthen the humanistic responsibility behaviors of corporations to promote CHR by articulating how the “Social” aspect of CSR ought to function for employee well-being first.
Social implications
This study responds to Sustainable Development Goals (SDGs) most aligned with the SDG 3 (good health and well-being) and SDG 8 (decent work and economic growth) by promoting humanistic workplaces with implications for United Nation's Principles for Responsible Management that encourages universities to educate students on humanism concepts in business management.
Originality/value
The originality lies in the empirical study of CHR. By incorporating the original concepts of humanism/humanistic management and CHR, the authors empirically articulate how CHR may be practically implemented as an elaborated humanistic synthesis for corporations.
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Joe B. Cobbs, Jonathan A. Jensen and B. David Tyler
A sponsorship performance cycle of business-to-business (B2B) exchange is conceptualized, where distinct types of resources are invested by sponsoring firms into sponsored…
Abstract
Purpose
A sponsorship performance cycle of business-to-business (B2B) exchange is conceptualized, where distinct types of resources are invested by sponsoring firms into sponsored properties and the competitive success of those properties enhances returns to sponsors. While the latter return channel in this cycle is well-documented, the former investment channel has remained opaque. Recognizing this empirical missing link, this paper aims to illuminate the investment channel through a longitudinal analysis.
Design/methodology/approach
Based on 50 years of Formula One (F1) team and sponsor alliances, this study models the effects of three different sponsorship categories on team performance in the annual F1 constructors’ championship.
Findings
The results demonstrate that each incremental sponsor offering performance-based resources is associated with four additional team points in the championship, controlling for factors such as past success and team experience. Conversely, sponsors offering access to financial or operational resources have no competitive impact. This performance-based sponsor effect is illustrated in models of the current and following seasons.
Research limitations/implications
In combination with related literature, this study substantiates a complete sponsorship performance cycle in the motorsports context.
Practical implications
The findings contribute an empirically-based strategy for sustainable sponsorship support that emphasizes acquisition of performance resources in the business-to-business exchange over operational or strictly financial alternatives.
Originality/value
While scholars have discerned that sponsors invest heterogeneous resources into sponsored properties, and the competitive success of those properties can enhance returns to sponsors, this study demonstrates that particular resources invested by sponsors are related to the property’s competitive success.
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Terry Eddy and Benjamin Colin Cork
The purpose of this paper is to measure participants’ sponsorship awareness, and assess a model designed to predict participants’ behavioral intentions toward the sponsors of the…
Abstract
Purpose
The purpose of this paper is to measure participants’ sponsorship awareness, and assess a model designed to predict participants’ behavioral intentions toward the sponsors of the Fayetteville Race Series.
Design/methodology/approach
The study is based on non-experimental survey research design using path analysis.
Findings
Perceived sponsor goodwill had a positive direct effect on participants’ sponsor behavioral intentions, as well as a positive indirect effect partially mediated by sponsor image. Sponsor image and future event participation also had positive direct effects on behavioral intentions. Overall, participants had very positive perceptions of the sponsors’ goodwill and image, and indicated positive future intentions. Participants’ ability to identify event sponsors through aided recall was inconsistent between the two events studied.
Practical implications
The positive outcomes for sponsors observed in this study should make small, regional, participant-based sport events appealing marketing channels, especially for generating goodwill in the community. Further, even small sponsorship spends can have a significant impact on these smaller events, since traditional funding sources continue to be cut.
Originality/value
Existing literature on sponsorship of participant sport-based events has generally focused on large events (i.e. marathons that draw participants nationally), despite the prevalence of smaller scale, regional events around the world.
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Dongye Lyu, Luis Mañas-Viniegra and Ziyuan Xu
Football stadiums, traditionally linked to local landmarks, now see a shift as corporate brands engage in naming rights through sponsorship. However, limited scholarly attention…
Abstract
Purpose
Football stadiums, traditionally linked to local landmarks, now see a shift as corporate brands engage in naming rights through sponsorship. However, limited scholarly attention has focused on the perception of stadium toponyms. This research initiative aims to gauge attention garnered by football stadiums in Europe and China based on various naming rights options.
Design/methodology/approach
Commencing with a well-known European stadium: Allianz Arena (Munich) and new constructed stadium in China, the original naming rights have been proffered as stimuli, in comparison with two major technology brands as well as Coca-Cola, the historical sponsor of sport mega-events. A sample of 100 participants was analyzed using the eye-tracking technique to compare the perceptions of European and Chinese youth.
Findings
The conclusion drawn from the study is that for stadiums with a history of sponsorship, unedited versions of the pictures attract the most attention. Compared with technology brand, Coca-cola is the brand with the greatest ability to attract the attention of young people in both historical stadiums or new constructed stadium, acting as an impulse to the activation of the naming rights strategy due to its historical character as a sponsor of mega sporting events.
Originality/value
The research makes dual contributions, both theoretically and practically. It enhances comprehension of audience visual attention patterns in the context of football stadium naming rights sponsorship, employing cognitive attention theory to substantiate empirical evidence. Furthermore, it advances the existing literature on football stadium naming rights research. Additionally, it proposes an optimization tool to assess the effectiveness of naming rights sponsorships, offering valuable insights for companies and brands seeking to enhance their marketing strategies.