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1 – 10 of 168The purpose of this paper is to develop benchmarking standards for risk premiums in capitalization rates and commercial mortgage rates, to examine the impact of investor choice of…
Abstract
Purpose
The purpose of this paper is to develop benchmarking standards for risk premiums in capitalization rates and commercial mortgage rates, to examine the impact of investor choice of property type and geographic markets on those risk premiums, and to supplement the quantitative analysis with historical and behavioral decision-making factors.
Design/methodology/approach
Using data sets extending from 1Q 1995 to 2Q 2016, a range of risk premiums is calculated and norms established at the 65th and 35th percentiles by property type and investment position. Relative levels of the risk premiums are compared to three defined categories of urban markets, to discover potential risks in yield-seeking market selection. A historical context is discussed to illustrate that prudential judgment is needed to supplement statistical measures of risk.
Findings
A stable range of risk premiums is identified for the pre-financial crisis period 1995-2003, the dislocations of risk pricing 2004-2007 leads to an extreme reaction 2009-2012. A period of “renormalization” is hypothesized thereafter. An important distinction is made between the transaction peak of 2007, and the numerically similar peak of 2015. Taxonomy of urban property markets is adduced.
Practical implications
Investment analyses and portfolio allocation decisions can benefit from a longitudinal examination of risk premiums hitherto unavailable. The proposed taxonomy of markets has been shown (elsewhere) to correlate to investment performance. City planners may wish to capture increased real estate value stemming from investor preferences among cities.
Originality/value
The risk premium benchmarking is not previously available in the scholarly literature. The historical context as a prudential element in evaluating risk is not often emphasized in the finance literature.
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This study examines the nature of emergent, self‐organizing systems in the context of the history of Herman Miller, Inc. This history informs our understanding of emergent systems…
Abstract
This study examines the nature of emergent, self‐organizing systems in the context of the history of Herman Miller, Inc. This history informs our understanding of emergent systems on two levels: how the dynamic of emergent self‐organization informs our sense of the past; and how it informs our understanding of an emergent, self‐organizing future. This article also recounts a critical period in the development history of Herman Miller, Inc.
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A distinction must be drawn between a dismissal on the one hand, and on the other a repudiation of a contract of employment as a result of a breach of a fundamental term of that…
Abstract
A distinction must be drawn between a dismissal on the one hand, and on the other a repudiation of a contract of employment as a result of a breach of a fundamental term of that contract. When such a repudiation has been accepted by the innocent party then a termination of employment takes place. Such termination does not constitute dismissal (see London v. James Laidlaw & Sons Ltd (1974) IRLR 136 and Gannon v. J. C. Firth (1976) IRLR 415 EAT).
Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange…
Abstract
Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange for Auto Parts procurement by GM, Ford, Daimler‐Chrysler and Renault‐Nissan. Provides many case studies with regards to the adoption of technology and describes seven chief technology officer characteristics. Discusses common errors when companies invest in technology and considers the probabilities of success. Provides 175 questions and answers to reinforce the concepts introduced. States that this substantial journal is aimed primarily at the present and potential chief technology officer to assist their survival and success in national and international markets.
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THE College of Librarianship is best considered on its own terms, as an institution unique in the history and present pattern of British library education, but its significance…
Abstract
THE College of Librarianship is best considered on its own terms, as an institution unique in the history and present pattern of British library education, but its significance and probable future development can best be assessed if two external factors are kept in mind.
There is a puzzle at the heart of the history of the English criminal trial. Defendants accused of serious crimes were denied counsel, but not defendants accused of minor crimes…
Abstract
There is a puzzle at the heart of the history of the English criminal trial. Defendants accused of serious crimes were denied counsel, but not defendants accused of minor crimes. Why? Sir William Blackstone could find no explanation and denounced the rule as contrary to the “face of reason.” This article proffers an answer. The rule is traced to the thirteenth century and a strong view of the royal prerogative. Royal interests were at stake, and counsel would not be permitted against the king acting ex officio. The rule seems to have been distinctly English; it does not appear to have been transplanted from the Roman-canon law. The rule continued in England, bolstered by new justifications, long after its original rationale had been forgotten.
The purpose of this paper is to outline the historical background and policy context of mental health services for people with intellectual disability (ID) in Ireland. It then…
Abstract
Purpose
The purpose of this paper is to outline the historical background and policy context of mental health services for people with intellectual disability (ID) in Ireland. It then considers recent implementation and lessons from the Irish experience.
Design/methodology/approach
The policy background and research literature relevant to the development of mental health services for people with ID in Ireland was reviewed and discussed.
Findings
Mental health services in Ireland remain in a state of change, moving towards the implementation of specialist multi-disciplinary teams in the community, alongside previous models of care and service.
Research limitations/implications
This paper summarises recent advances and research regarding mental health services for people with ID in Ireland.
Practical implications
The paper illustrates the process of delivering changes to mental health services with practical implications for mental health services internationally.
Originality/value
This is the first paper in many years to summarise the development of mental health services for people with ID in Ireland. There has been considerable recent change and it is therefore important to provide a useful reference for the current status of services.
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This paper presents an historical reconstruction of the radicalisation of Alan Fox, the industrial sociologist and a detailed analysis of his early historical and sociological…
Abstract
Purpose
This paper presents an historical reconstruction of the radicalisation of Alan Fox, the industrial sociologist and a detailed analysis of his early historical and sociological writing in the classical pluralist phase.
Design/methodology/approach
An intellectual history, including detailed discussion of key Fox texts, supported by interviews with Fox and other Biographical sources.
Findings
Fox’s radicalisation was incomplete, as he carried over from his industrial relations (IR) pluralist mentors, Allan Flanders and Hugh Clegg, a suspicion of political Marxism, a sense of historical contingency and an awareness of the fragmented nature of industrial conflict.
Originality/value
Recent academic attention has centred on Fox’s later radical pluralism with its “structural” approach to the employment relationship. This paper revisits his early, neglected classical pluralist writing. It also illuminates his transition from institutional IR to a broader sociology of work, influenced by AH Halsey, John Goldthorpe and others and the complex nature of his radicalisation.
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In a previous monograph a discussion took place on stages one and part of stage two of the three stage process in an unfair dismissal action, namely the employee having to show…
Abstract
In a previous monograph a discussion took place on stages one and part of stage two of the three stage process in an unfair dismissal action, namely the employee having to show that he has been dismissed (stage one), and some of the reasons for dismissal which fall within the statutory categories, namely the employee's capability and qualifications; misconduct and redundancy (part of stage two). In this monograph an analysis is proposed on the two remaining reasons, these being the contravention of a duty imposed by an enactment and some other substantial reason. There will then follow a discussion on the test of fairness as constituting the third of the three stage process and on the remedies available when the tribunal finds that the employee has been unfairly dismissed.