Yai‐Hung Chiang and Chun‐Kei Joinkey
The first Hong Kong Real Estate Investment Trust (HK‐REIT), the Link REIT, was successfully launched in late 2005. The retail tranche of its initial public offering (IPO) was 19…
Abstract
The first Hong Kong Real Estate Investment Trust (HK‐REIT), the Link REIT, was successfully launched in late 2005. The retail tranche of its initial public offering (IPO) was 19 times oversubscribed, and the IPO is the largest of its kind in the world until now. Despite the initial phenomenon success, there have been only three others to follow and get listed. Indeed, it took Hong Kong over two years to have her first Link REIT listed after the legislation for REIT products had come into force. The development of REIT market in Hong Kong has been slow compared to its counterparts in some other Asian countries. This paper aims to explain the somewhat sluggish growth of the HK‐REIT market. Its development is compared with some emerging Asian markets as well as the more mature markets in the USA and Australia. The study is focused on the legislations that govern REITs in different jurisdictions, their different REIT market envi‐ronments and the rationale from the respective governments to introduce their REITs. It is concluded that the sluggish development of HK‐REITs is mainly due to its market environment and industry structure. There is not enough incentive for developers to dispose their assets in the form of REITs. Besides, the HK‐REIT Code was initially criticized by the industry as being too restrictive. Though subsequent amendments on the HK‐REIT Code have been made to make it more conducive to the development of REIT market, further sustainable success will however hinge on the willingness from sponsors, particularly large developers, to offer their portfolios of properties for sale through REITs.
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G.G. Chowdhury and Sudatta Chowdhury
A number of digital libraries have been set up in the course of various research and development activities in different parts of the world during the last few years. How do these…
Abstract
A number of digital libraries have been set up in the course of various research and development activities in different parts of the world during the last few years. How do these digital libraries fair in terms of information retrieval features? This paper looks into this question by reviewing the information retrieval features of 20 digital libraries chosen from around the globe. The first part of the paper briefly describes the features of the chosen digital libraries in terms of their nature and content. The second part looks into the information retrieval features of each digital library. Unique features of some digital libraries have been indicated. Major areas of research that would improve the information retrieval features of the future digital libraries have been indicated.
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Greta Cummings and Carole A. Estabrooks
The study purpose was to assess the evidence on the effects of hospital restructuring that included layoffs, on nurses who remained employed, using a systematic review of the…
Abstract
The study purpose was to assess the evidence on the effects of hospital restructuring that included layoffs, on nurses who remained employed, using a systematic review of the research literature to contribute to policy formation. Papers addressing research, hospital restructuring resulting in layoffs, effects on nurses, and a stated relationship between the independent and dependent variables were included. Data were extracted and the quality of each study was assessed. The final group of included studies had 22 empirical papers. The main effects were significant decreases in job satisfaction, professional efficacy, ability to provide quality care, physical and emotional health, and increases in turnover, and disruption to healthcare team relationships. Nurses with fewer years of experience or who experienced multiple episodes of restructuring experienced greater effects. Other findings remain inconclusive. Further research is required to determine if these effects are temporal or can be mitigated by individual or organizational strategies.
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Lijun (Gillian) Lei, Yutao Li and Yan Luo
The emergence of social media as a corporate disclosure channel has caused significant changes in the production and dissemination of corporate information. This review identifies…
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The emergence of social media as a corporate disclosure channel has caused significant changes in the production and dissemination of corporate information. This review identifies important themes in recent research on the impact of social media on the corporate information environment and provides suggestions for further explorations of this new but fast-growing area of research. Specifically, we first review the evolution of Internet-based corporate disclosure and related regulations, and then focus on three recent streams of research: 1) companies’ use of social media; 2) information produced by non-corporate users and its impact on capital markets; and 3) the credibility of corporate information on social media platforms.
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WILLIAM H. DESVOUSGES, F. REED JOHNSON, RICHARD W. DUNFORD, K. NICOLE WILSON and KEVIN J. BOYLE