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Identifies three approaches to controlling the agent‐principal conflict for CEOs (market discipline, compensation structure and monitoring mechanisms) and reviews previous relevant research. Develops a mathematical model of the relationship between pay‐for‐performance sensitivity and external monitoring; and tests it on 1971‐1993 US data. Presents the results, which suggest that the sensitivity is significantly affected by monitors, growth opportunities and CEO share ownership. Considers consistency with other research and the implications of the findings.

Throughout sport, the incidence of commercial sponsorship is increasing and shows no signs of slowing. This case study examines the negative consequences that can arise when a corporate stadium naming rights partner (Enron) becomes embroiled in financial and ethical controversies and how its collapse affected the team that uses the stadium for its home games (Major League Baseball's Houston Astros). It examines public relations strategies and tactics the Astros used to disassociate themselves from Enron and to recapture public support.

This action research study explores how the multigenre research project develops historical empathy, or historical perspective taking skills, in a class of 22 fourth grade students. Much of the research in these areas focuses on the high school and university level. However, this study explored the degree to which upper elementary students were able to recognize historical perspectives, and whether the multigenre project format was conducive to developing this particular skill. The students in the study selected a historical topic from a list of historical subjects, then researched this topic, and displayed what they learned through multiple genres. The action researcher found that the multigenre research project increased students’ understanding of the differences in historical perspectives.

The purpose of this paper is to enhance decision-making process for the procurement of facilities management (FM) services within aviation corporate organisation, where the FM services functions to support the business operation. It builds on considering the fundamental elements comprising the FM procurement process from the aviation perspective.

The paper investigates the characteristics of the different types of sourcing approaches and the underpinning factors affecting its selection for the procurement of FM services within the aviation industry. The decision-making framework for the procurement of FM services is developed based on the qualitative case study by interview and focus group discussion with the custodian department that is directly involved in the procurement of FM services.

The degree of outsourcing is increasing due to corporate organisation’s persona. Procurement of FM services is a complex process required detailed review, efforts and time in choosing the right sourcing approach. Off the shelf guidelines for the procurement of FM services suits property professional which directly involved with the procurement of FM services. However, decision-making process for the procurement of FM services specifically for aeronautical and non-aeronautical corporate organisation are rarely found. The case study findings signify that the respondents are familiar with the in-sourcing, outsourcing and right sourcing approaches. The underpinning factors affecting sourcing approaches were categorised according to the main reasons for the procurement of FM services, considerable factors during the procurement stage and value-adding criteria. The use of strategic management tools is not widely imposed, and intelligent client guideline is not available. Hence, the decision-making framework has been developed to fill the gap in this study.

The research is based on a study of aviation or airline corporate organisation, which limits the possibility of holistic view to the FM industry as a whole but highlights the research gap of FM procurement which is scarce within the case study of airline companies. The focus area is also bounded within the procurement of FM services designated for the office buildings.

The paper provides initial guideline for the airline company in sourcing the procurement of FM services that were developed based on established guidelines from accrediting bodies and scholars, as well as from the sampling feedback analysis. It is also among the firsts that examine the procurement of FM services in the context of aviation or airline industry. The outcome of this paper is a decision-making framework for the procurement of FM services that is specially designed for the airlines corporate organisations, which fills the gap that exists in the industry.

The purpose of this paper is to study the effect of Malaysian Code on Corporate Governance (MCCG, 2007 and 2012) on the performance of the listed companies in Malaysia. The agency theory and resource dependency theories indicate that the firms with strong corporate governance outperform firms with weaker governance. This paper explores this relationship in a developing country like Malaysia having different institutional environment compared to western countries.

The study used a sample of 113 listed companies in Malaysia. The study incorporates the endogenous relationship between corporate governance, firm performance and leverage.

The study analyzes how the corporate governance framework affected firm performance in Malaysia with the help of self-developed corporate governance index (MCGI). The authors’ findings show that the performance of the firm is positively and significantly related with corporate governance measured by MCGI. Secondly, corporate governance of sample firms shows marked improvements after implementation of MCCG 2012 as compared to MCCG 2007.

The findings of this paper support the agency and the resource dependency theories. The study contributes to the understanding of the relationship between the corporate governance and firm performance in emerging economy and builds a case for enforcement of strong corporate governance code by government agencies.

The purpose of this paper is to examine how the strengthening of integrity within the real estate industry can lead to higher performance. Sticking to restricting ethical standards might be seen as reducing the range of options and consequently performance. However, in a dynamic setting of interactions there is a different outcome due to the performance effect of integrity. This is due to new opportunities that would not exist without integrity.

A literature review of ethics and the economics of trust is presented along with an analysis why real estate is an industry linked with corruption scandals.

Fostering integrity has an embedded challenge: integrity is invisible. Most capabilities and skills can be learnt through observation and imitation. However, what you cannot see, you cannot imitate. Consequently, education is central to address this issue and to increase awareness and understanding. Professional bodies have to support life-long education to ensure its members’ integrity.

This paper emphasizes the importance of fostering integrity through higher education and professional bodies within the real estate industry.

Integrity is a performance-increasing factor—also in the real estate industry. Thus, the stakeholders forming the real estate industry, including educational institutions and professional bodies, are called upon to examine how they can address this issue.

This contribution is the first paper to link the performance effect of integrity with the real estate industry.

This paper aims to summarize recent research findings and reflections on The Added Value of Facilities Management (FM) and to outline perspectives for future research and development of the added value of FM.

The article is based on reflections on contributions to the recently published book “The Added Value of Facilities Management” and related future studies, as well as further exploration of five main themes.

Added value is expected to be central in the future development of FM, which is confirmed by recent foresight studies. There is a need for a better understanding of alignment between FM and core business, performance measurement methods and how models such as the FM Value Map can be of value to the involved stakeholders. Corporate social responsibility (CSR), sustainability and branding have great potential to add value and to elevate FM to become a strategic partner with corporate top management. Management of stakeholders’ perception of value and relationships are essential aspects as well and need further attention.

The article is based on the conclusions of several studies that aimed to explore items for further research, on the ideas of all co-authors of “The Added Value of Facilities Management” anthology and on further exploration of five main themes, and not on an extensive review of recommendations for further research to be found in a huge number of research reports.

The findings and ideas for further research on the added value of FM deliver input to further professionalization of FM.

This paper provides important input to the future research agenda on the added value of FM and sheds new light on five particular research topics.

This paper aims to provide analysis on the state of UK commercial service charge accounting practices when the guiding regulatory framework changed to a mandatory professional standard.

From a critical review of the accounting requirements of the Royal Institution of Chartered Surveyors (RICS) Professional Standard, the paper develops metrics for measuring the quality of service charge accounts. These metrics are used to measure accounting quality within 154 accounting statements prepared during the first year of the Standard’s implementation.

The paper identifies conceptual weaknesses in the RICS Professional Standard and poor levels of compliance with many of its accounting requirements. The findings suggest that long-standing issues remain unsolved and also identify new areas of concern within present accounting practices for UK commercial service charges.

The data were obtained from accounting documents prepared by 68 landlords and 40 managing agents for the commercial clients of one UK service charge consultancy company. Although the population is representative of industrywide practice, further longitudinal analysis is required to improve generalisability.

The paper provides performance metrics that stakeholders can use for benchmarking accounting quality. The RICS needs to act to improve accounting practice or risk government intervention. Some corporate landlords must provide higher quality service charge accounts or risk potentially losing occupiers to competing schemes.

This work provides a unique dataset that explores the role of the RICS Professional Standard in improving UK service charge accounting practices.

The purpose of this paper is to study the effect of Malaysian Code on Corporate Governance (MCCG) on the performance of the listed companies in Malaysia.

Panel data estimation techniques were used to run the regression in this study, following Baltagi (1995). The authors have selected 116 listed companies to Bursa Malaysia during the period 1996-2014, to study the effect of corporate governance on firm performance. Listed companies in Malaysia are mandatory to comply with MCCG rules and regulations.

It was found that there was a significant improvement in the performance of listed companies after Malaysian Government’s implementation of MCCG (2000) which means that MCCG matters for firm performance in Malaysia. It was also found that there was no significance difference in the overall impact of implementation of MCCG on performance level between government-linked companies (GLCs) and private companies (PCs).

The authors have selected only 116 listed companies to Bursa Malaysia during the period 1996-2014, to study the effect of corporate governance on firm performance. The selection of the data was based on the availability of data in Thomson data stream.

The findings had contributed to the understanding that the MCCG has improved significantly the performance of listed companies in Malaysia.

In this study, a formula is derived for the period specific beta (market risk) for a portfolio of financial assets that has been formed on the basis of directional forecasts. This is an important contribution to the literature since measuring the risk of an actively managed portfolio is problematic due to the fact that managers may change fund risk conditional on market expectations. The period‐specific nature of the measure is a significant advantage since historical fund returns are not required and the beta is not influenced by prior fund returns' deviations from the bench mark. The methodology employed allows for the development of a time series of fund betas that permits investigation into a number of important empirical issues. This study is also of practical interest from the perspective of risk management and for both portfolio performance and attribution. Finally, there are many active strategies based on directional forecasts and the approach used here encompasses a significant proportion of these.