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Puts forward the case for European property in a multi‐asset portfolio. Presents a quantitative approach for the construction of a Euro‐property portfolio. Concludes that this preliminary mean‐variable analysis shows that European property does provide significant diversification benefits both within a multi‐asset portfolio and within a pure European property portfolio context.

Purpose – To highlight ways to overcome challenges in conducting authentic assessments and using data effectively in program planning.

Approach – To help teachers investigate the definition and purpose of assessments available for use in today's diverse classrooms, and use assessment results to inform instruction.

Practical implications – A school team analysis framework focused on teacher collaboration when conducting evaluations of districts' reading programs, a data use cycle, and a reflective questionnaire are provided for professional development.

Social implications – Social justice and differentiated instruction require balanced assessment methods and portfolio use as an implementable and manageable method to document student progress.

Originality/value of paper – This chapter engages teachers in the reality that they can be the driving force behind assessments for learning in their classrooms, schools, and districts.

This paper aims to examine how various academic disciplines shape the field of event portfolio management. Given the complex nature of portfolios comprising different genres that are studied separately from their respective disciplinary realms, the academic event portfolio landscape remains fragmented. This is against the nature of portfolios, which requires inter-disciplinarity and novel integration of genres, stakeholders and perspectives.

Based on a scoping literature review, this conceptual paper sets up a common ground for the academic study and industrial development of event portfolio management.

A comprehensive view of event portfolio literature across disciplines reveals its hypostasis as a compound transdisciplinary field. The authors suggest a set of foundational premises whereby they identify 22 principal thematic areas that comprise this emerging field.

The establishment of event portfolio management as a distinct field will help in the osmosis and diffusion of new ideas, models and best practices to run and leverage portfolios. The portfolio perspective highlights the need for cohesive learning to design comprehensive systems of events, implement joint strategies, solidify social networks, coordinate multiple stakeholders and develop methods of holistic evaluation.

By examining comprehensively event portfolio management as a transdisciplinary field, the authors have been able to identify principal research directions and priorities. This comprehensive analysis provides a synergistic ground, which at this embryonic stage of development, can be used to set out joint trajectories and reciprocal foci across the whole span of scholarship studying planned series of events.

In this chapter a typology is presented that typically describes strategic patent management practices in four development categories. The underlying framework integrates patent functions with strategic planning attitudes. Policy makers can apply it to survey the actual use of patents in order to identify the potential for improvement in SME-owned patent exploitation. Managers of these organisations can use it to evaluate the current patent management practice for taking the next step towards a more active use of patents. Operationalisation of the framework into a questionnaire is grounded in a pilot study of three biotechnology firms, differing in size and age. The result has consequently been applied in a case study consisting of 16 small-sized biopharmaceutical companies in the Netherlands. After presenting results from this sample of patent management practices, we present our findings and discuss the validity and use of the typology for the above-mentioned purposes.

Operational risks can cause considerable, atypical disturbances and impact food supply chain (SC) resilience. Indicatively, the COVID-19 pandemic caused significant disruptions in the UK food services as nationwide stockouts led to unprecedented discrepancies between retail and home-delivery supply capacity and demand. To this effect, this study aims to examine the emergence of digital platforms as an innovative instrument for food SC resilience in severe market disruptions.

An interpretive multiple case-study approach was used to unravel how different generations of e-commerce food service providers, i.e. established and emergent, responded to the need for more resilient operations during the COVID-19 pandemic.

SC disruption management for high-impact low-frequency events requires analysing four research elements: platformisation, structural variety, process flexibility and system resource efficiency. Established e-commerce food operators use partner onboarding and local waste valorisation to enhance resilience. Instead, emergent e-commerce food providers leverage localised rapid upscaling and product personalisation.

Digital food platforms offer a highly customisable, multisided digital marketplace wherein platform members may aggregate product offerings and customers, thus sharing value throughout the network. Platform-induced disintermediation allows bidirectional flows of data and information among SC partners, ensuring compliance and safety in the food retail sector.

The study contributes to the SC configuration and resilience literature by investigating the interrelationship among platformisation, structural variety, process flexibility and system resource efficiency for safe and resilient food provision within exogenously disrupted environments.

This paper aims to explore the quantile-specific short- and long-term effects of economic policy uncertainty (EPU) on the efficiency of the green bond market.

This study examines the long-term cointegration relationship and the short-term fluctuation relationship of EPU, WTI crude oil price (WTI) and European Union Allowances price (EUA) with the green bond market efficiency (GBE) using the quantile autoregressive distributed lag method. Additionally, the authors analyze the differences before and after the Covid-19 pandemic.

EPU has a significant positive impact on the GBE before the outbreak. However, during the crisis period, the impact of EPU and WTI was greatly weakened, whereas the impact of EUA was strengthened.

This paper demonstrates the dynamics of GBE and its influencing factors under different periods. The findings provide insights for market participants and policymakers to gain a clearer understanding of the green bond market.

This paper extends the study of green bonds by quantifying the GBE and elucidating the nonlinear relationship between efficiency and independent variables at different quantiles over different periods.

The purpose of this paper is to examine the impact of structural breaks on the conditional variance of carbon emission allowance prices.

The authors employ the symmetric GARCH model, and two asymmetric models, namely the exponential GARCH and the threshold GARCH.

The authors show that the forecast performance of GARCH models improves after accounting for potential structural changes. Importantly, we observe a significant drop in the volatility persistence of emission prices. In addition, the effects of positive and negative shocks on carbon market volatility increase when breaks are taken into account. Overall, the findings reveal that when structural breaks are ignored in the emission price risk, the volatility persistence is overestimated and the news impact is underestimated.

The authors are the first to examine how the conditional variance of carbon emission allowance prices reacts to structural breaks.

Spanish real estate investment trusts (REITs) emerged as an important and rapidly expanding property investment vehicle, against the backdrop of improving Spain macro-economic fundamentals and commercial property market. This sees Spanish REITs being the 3rd largest REIT market in Europe, offering access to important Iberian and European property assets, with the added benefits of transparency, governance and liquidity. The purpose of this paper is to assess the significance, risk-adjusted performance and portfolio diversification benefits of Spanish REITs in a mixed-asset portfolio over August 2014–February 2018.

Using monthly total returns, the risk-adjusted performance and portfolio diversification potential of Spanish REITs over August 2014–February 2018 are assessed. Asset allocation diagrams are used to assess the role of Spanish REITs in a mixed-asset portfolio.

Spanish REITs delivered strong risk-adjusted returns compared to stocks over August 2014–February 2018, but with limited portfolio diversification benefits. Compared to bonds, Spanish REITs offered competitive risk-adjusted returns and excellent diversification benefits. Importantly, this sees Spanish REITs as strongly contributing to the Spanish mixed-asset portfolio across the portfolio risk spectrum.

The 2012 Spanish REIT regulatory changes have been pivotal in providing a supportive environment for Spanish REITs’ growth. Spanish REITs are now a significant market in a European context. The results highlight the major role of Spanish REITs in a Spanish mixed-asset portfolio. The strong risk-adjusted performance of Spanish REITs compared to stocks sees Spanish REITs contributing to the mixed-asset portfolio across the portfolio risk spectrum. This is particularly important, as an increasing number of investors have utilised Spanish REITs to obtain their property exposure in a liquid format in recent years.

This paper is the first published empirical research analysis of the risk-adjusted performance of Spanish REITs, and the role of Spanish REITs in a mixed-asset portfolio. This research enables empirically validated, more informed and practical property investment decision-making regarding the strategic role of Spanish REITs in a portfolio.

This paper examines the extent of the short-run relationship between Australian real estate investment trusts (A-REITs) and direct real estate returns on both a commercial property sector and a prime and secondary grade basis, i.e. a subsector basis.

Two-step methodology is used. First, we identify the dynamic interdependencies between A-REITs and each commercial property subsector to determine whether the returns of A-REITs lead each subsector or vice versa. Second, short-run deviations between these asset returns are estimated by measuring their individual response behaviours to changes in key economic and financial market factors that are expected to influence these returns.

Results suggest that each subsector shares a unique relationship to A-REITs, given each prime and secondary grade commercial property return series varies in behaviour. Some property subsector returns can be predicted by movements in A-REIT returns, whereas returns for others move independent to changes in A-REITs. Similarly, some subsectors commove with A-REITs in response to changes in certain market factors, whereas others diverge. As such, these findings have practical significance to fund managers and portfolio selection, as each commercial subsector embodies its own exposure to A-REITs and vulnerabilities to market forces. Subsectors that commove with A-REITs in response to certain market forces may be used as substitutes in a portfolio. Alternatively, subsectors that diverge from A-REITs in response to market forces may offer diversification benefits when combined.

These findings extend beyond existing research to offer critical decision-making guidance at the acquisition level, as fund managers may more closely consider the impact that prime or secondary grade properties within a given commercial sector may have on a portfolio that consists of public and private Australian real estate. Ultimately, a more informed acquisition may be carried out as consideration of a property's asset grade allows for a deeper insight into the property's risk profile and its anticipated short-run impact on a portfolio.

This paper extends previous studies that focus mostly on aggregate or sector-level returns by measuring REIT and real estate dynamics at the subsector level, allowing for practical significance at not only the portfolio level but crucially at the acquisition level, a pivotal decision-making stage for fund managers. This is also the first paper to study REIT and real estate causality and response patterns to changes in market factors at the Australian sector level.

Mexico REITs are a significant and important REIT market, both in a regional and in emerging property market context. As one of the few emerging economies in the world with an active REIT market, Mexico REITs are specifically designed to provide an effective pathway to participate in the investment opportunities offered by the Mexico commercial property market for both domestic and international investors. Importantly, Mexico REITs provide additional property investment benefits such as a high degree of transparency, governance and liquidity. The main focus of this research is to highlight the significance of Mexico REITs and assess their performance dynamics, as well as the added-value benefits of Mexico REITs in mixed-asset investment portfolios.

Using monthly total returns, the risk-adjusted performance and portfolio diversification potential of Mexico REITs over April 2011–December 2019 were assessed. A constrained mean-variance portfolio optimisation framework was used to develop a three-asset portfolio scenario using the historical returns, risk and correlation of Mexico REITs and the other two major financial assets.

Despite being more volatile than the mainstream asset classes, Mexico REITs delivered the strongest risk-adjusted performance versus stocks and bonds over April 2011–December 2019, which was made possible by the high premium of their total return performance. Notably, Mexico REITs offered excellent diversification potential with bonds, whilst demonstrating a marginal positive correlation with the stock market. These investment attributes of Mexico REITs have brought immediate benefits towards their ability to add value to the Mexico mixed-asset portfolio fabric across a wide portfolio risk–return spectrum.

Whilst their initial establishment in 2004 was considered unsuccessful, the ongoing regulatory improvements have been pivotal in providing a supportive investment environment to nurture the organic growth of Mexico REITs. This now sees the Mexico REIT market as an exemplar of success for REIT establishments amongst its peers in the Latin American region, as well as for emerging economies worldwide. Mexico REITs are now an important REIT market, as the second largest emerging REIT market in the world. The empirical investigation of this research has established the investment attributes of Mexico REITs as a listed property investment vehicle. The strong risk-adjusted performance of Mexico REITs compared to stocks and bonds sees Mexico REITs contributing to the mixed-asset portfolio across the portfolio risk–return spectrum. This is particularly important as it provides insights into the broader strategic implications of Mexico REITs as an effective, transparent and tax-efficient conduit for high-quality Latin American property exposure in a liquid format.

This paper is the first published empirical research that elucidates the investment attributes of Mexico REITs, highlighting their significance, risk-adjusted and portfolio performance enhancement role as an emerging REIT market. The main outcome of this research enables empirically validated, more informed and practical property investment decision-making regarding the strategic role of Mexico REITs in an investment portfolio.