bluuebunny/crossref_metadata_2025_split huggingface dataset:
An analytic network process for risks assessment in commercial real estate development
Authors: Chen Zhen , Khumpaisal Sukulpat 
Published: May 2009

PurposeThe purpose of this paper is to introduce a novel decision‐making approach to risks assessment in commercial real estate development against social, economic, environmental, and technological (SEET) criteria. It therefore aims to describe a multiple criteria decision‐making model based on analytic network process (ANP) theory, and to use an experimental case study on an urban regeneration project in Liverpool to demonstrate the effectiveness of the ANP model.Design/methodology/approachThe paper commences with a description about risks related to commercial real estate development, and provides a list of risk assessment criteria based on literature review and experience in related areas. The ANP is then introduced as a powerful multicriteria decision‐making method. An experimental case study is finally conducted with scenarios and assumptions based on a real urban regeneration project in Liverpool.FindingsThe paper defines a group of risks assessment criteria against SEET requirements directly related to commercial real estate development. An ANP model is set up with 29 risks assessment criteria, and results from an experimental case study reveal that the ANP method is effective to support decision‐making based on risks assessment to select the most appropriate development plan; and therefore it is applicable in commercial area.Originality/valueThis paper defines SEET criteria for risks assessment in regard to SEET requirements to emphasise sustainable development; while the ANP is introduced to assess risks in commercial real estate development. The ANP model provides a platform for decision makers in commercial real estate development to evaluate different plans based on the degree of interactions among risk assessment criteria.
An analysis of the long‐run impact of fixed income and equity market performance on Australian and UK securitised property markets
Authors: Seng Cheong Chee , Wilson Patrick J. , Zurbruegg Ralf 
Published: May 2009

PurposeGiven the mixed findings in the literature, this paper aims to re‐examine the relationship that the securitised property market has with both the fixed income and general stock markets in the UK and Australia from July 1998 to June 2006.Design/methodology/approachThe base methodology is the cointegration procedure developed by Inoue in conjunction with the procedure developed by Johansen, Gonzalo and Granger that allows the extraction of permanent and transitory driving factors underlying cointegrated systems. In Australia both listed property trusts (LPTs) and real estate management and development companies (REMDs) are studied, while in the UK the analysis is restricted to REMDs due to the fact that real estate investment trusts were only introduced in 2007, hence providing insufficiently long series.FindingsThe Inoue test reveals that ignoring structural breaks in any cointegrating system may lead to erroneous inferences. In both Australia and the UK securitised property is influenced by the general stock market in both the long‐ and short‐term. In Australia the fixed income market does not have a permanent influence on LPTs, despite the fact that LPTs use more long‐term debt than REMDs.Originality/valueA major contribution of this study clearly points to the relative weightings that portfolio managers may now consider to be appropriate vis‐a´‐vis their holdings of bonds, equities and securitised property (under its different structures as considered here) in their portfolios for both their tactical and strategic asset allocations.
Is BOT the best financing model to procure infrastructure projects?
Authors: Cheung Esther , Chan Albert P.C. 
Published: May 2009

PurposeSeveral major infrastructure projects in the Hong Kong Special Administrative Region (HKSAR) have been delivered by the build‐operate‐transfer (BOT) model since the 1960s. Although the benefits of using BOT have been reported abundantly in the contemporary literature, some BOT projects were less successful than the others. This paper aims to find out why this is so and to explore whether BOT is the best financing model to procure major infrastructure projects.Design/methodology/approachThe benefits of BOT will first be reviewed. Some completed BOT projects in Hong Kong will be examined to ascertain how far the perceived benefits of BOT have been materialized in these projects. A highly profiled project, the Hong Kong‐Zhuhai‐Macau Bridge, which has long been promoted by the governments of the People's Republic of China, Macau Special Administrative Region and the HKSAR that BOT is the preferred financing model, but suddenly reverted back to the traditional financing model to be funded primarily by the three governments with public money instead, will be studied to explore the true value of the BOT financial model.FindingsSix main reasons for this radical change are derived from the analysis: shorter take‐off time for the project; difference in legal systems causing difficulties in drafting BOT agreements; more government control on tolls; private sector uninterested due to unattractive economic package; avoid allegation of collusion between business and the governments; and a comfortable financial reserve possessed by the host governments.Originality/valueThe findings from this paper are believed to provide a better understanding to the real benefits of BOT and the governments' main decision criteria in delivering major infrastructure projects.
Has the 1987 crash changed the psyche of the stock market?
Authors: Ang James , Boyer Carol 
Published: May 2009

PurposeThe purpose of this paper is to utilize the initial public offerings (IPO) market to research the effect the stock market crash of 1987 had on the market psyche.Design/methodology/approachThe paper compares the number of IPOs, as well as accounting data during the years surrounding the 1987 crash to determine if there is a change in financial quality. The underwriting fee structure, underpricing and short term price changes during one year prior to and one year following the 1987 crash are examined, as well as the long term returns surrounding the crash.FindingsThe stock market crash of 1987 did change the market psyche in the short to medium term. Results show greater risk aversion in the post crash period, as evidenced by fewer IPOs from riskier firms. Pricing is found to be more rational – less one day run‐up, less upward adjustment from offering range, and less likely to be overpriced in intermediate and longer terms.Originality/valueThe paper demonstrates the importance of market sentiment and may illuminate the causes of market cycles.
Capital market developments in the post‐October 1987 period: a Canadian perspective
Authors: Booth Laurence , Cleary Sean 
Published: May 2009

PurposeThe purpose of this paper is to review the evolution of the Canadian financial environment since the stock market “crash” of 1987.Design/methodology/approachThe paper provides a chronological account of significant events in the Canadian economic environment and capital markets, and how they have transformed the financial climate.FindingsThe late 1980s was a turbulent period with many changes in government and economic policies which were initiated at a time when governments were wracked with fiscal deficits, and just as the central bank appointed a dedicated inflation fighter. These changes worked their way through the system to contribute to one of the worst recessions in Canadian history. One of the symbols of disparity during this era was the Stock Market “Crash” of 1987, which was felt in Canada, as well as around the globe. However, for the last decade, the federal government has reported a surplus every year, and Canadians have benefitted from falling tax rates, declining interest rates, a strong stock market, and a rising currency. In fact, until September of 2008, all of these developments had contributed to unprecedented profitability in the financial services industry, until the recent widespread economic crisis in the US spread to Canadian and global economies. However, the Canadian economy seems much better poised to deal with such adversity than it was in October 1987. If the fall of 2008 is any indication, we will find out soon enough.Originality/valueThe paper demonstrates how fallout from the crash of 1987, as well as other subsequent developments, has contributed to significant changes in the financial environment.
Revisiting derivative securities and the 1987 market crash: lessons for 2009
Authors: Glenn Baigent G. , Massaro Vincent G. 
Published: May 2009

PurposeThe purpose of this paper is to examine the role of derivative securities in over‐pricing and market corrections.Design/methodology/approachDaily market data from major indices are used to determine if the market was over‐priced in 1987. Then, the literature is examined to show differences in research findings for what caused the bubble and its correction.FindingsEvidence is found that there was a market bubble in 1987. Examples are provided of how portfolio insurance can lead to the aggregation of traders' idiosyncratic errors and to an increase in the use of leverage, both of which can cause over‐pricing.Research limitations/implicationsAlthough the analysis is limited to equity markets, the findings should stimulate further research on the relationship between derivatives and asset pricing. Theoretically, derivative prices should be a function of asset prices, but it could be argued that the relationship is symbiotic.Practical implicationsThe findings may impact policy makers in establishing regulations regarding the use of derivatives. Moreover, asset managers may be able to better detect conditions of over‐pricing.Originality/valueThe paper demonstrates the important role of derivative securities in market prices.
Fraudulent financial reporting, corporate governance and ethics: 1987‐2007
Authors: Kalbers Lawrence P. 
Published: May 2009

PurposeThe purpose of this paper is to review, critique, and integrate certain trends, events, and research streams involving earnings management, fraudulent financial reporting, corporate governance and ethics.Design/methodology/approachThe paper provides a brief history of relevant events and trends in financial reporting for the period 1987‐2007. Within this historical context, financial reporting and earnings quality are discussed from the academic and practitioner points of view. The influence of corporate governance and the role of ethics and behavior are introduced as part of an integrated discussion of academic and practitioner viewpoints of earnings management and fraudulent financial reporting. The last section of the paper provides final observations and recommendations for future research.FindingsThe paper concludes that academic research in earnings management and fraudulent financial reporting has become increasingly narrow in addressing important issues and problems in practice.Research limitations/implicationsThe paper is limited in its depth of analysis in each individual research stream due to the breadth of research and time period that are addressed. The implications for future research are enhanced by the integration of several streams of research relevant to earnings management and fraudulent financial reporting.Practical implicationsThe paper may be useful to regulators and policy makers to better understand the significance and relevance of academic research.Originality/valueThe paper introduces and integrates ethics and behavior as important aspects for understanding earnings management and fraudulent financial reporting.
Power relations in IT education and work: the intersectionality of gender, race, and class
Authors: Kvasny Lynette , Trauth Eileen M. , Morgan Allison J. 
Published: May 2009

PurposeSocial exclusion as a result of gender, race, and class inequality is perhaps one of the most pressing challenges associated with the development of a diverse information technology (IT) workforce. Women remain under represented in the IT workforce and college majors that prepare students for IT careers. Research on the under representation of women in IT typically assumes women to be homogeneous in nature, something that blinds the research to variation that exists among women. This paper aims to address these issues.Design/methodology/approachThe paper challenges the assumption of heterogeneity by investigating how the intersection of gender, race, and class identities shape the experiences of Black female IT workers and learners in the USA.FindingsThe results of this meta‐analysis offer new ways of theorizing that provide nuanced understanding of social exclusion and varied emancipatory practices in reaction to shared group exposure to oppression.Originality/valueThis study on the under‐representation of women as IT workers and learners in the USA considers race and class as equally important factors for understanding variation among women. In addition, this paper provides rich insights into the experiences of Black women, a group that is largely absent from the research on gender and IT.
Gender, access to community telecenter and livelihood asset changes
Authors: Naivinit Sani 
Published: May 2009

PurposeThe purpose of this paper is to examine the access to community telecenters (CTs) and the resulting changes in people's livelihood by focusing on the gendered use of computers and the internet in two Thai CTs.Design/methodology/approachQualitative methods through participant observation and interviews of 37 respondents are privileged. The assessment of the findings in this study is made by analyzing preset indicators created and adapted from a literature review of telecenters, livelihoods, and gender.FindingsFindings suggest that livelihood changes in specific areas, with a rise in self‐esteem being one of the most noticeable changes. Moreover, financial opportunities, including career enhancement and product development, have expanded as a result of accessing CTs. In regard to gender, although it is found that there is only a small difference in financial opportunity between women and men, the findings point to more positive changes for women than men in terms of health enhancement and social connectedness, while men benefit slightly more in self‐esteem and education.Originality/valueThe paper verifies the possibility of information and communication technology (ICT) as a tool for enhancing the lives of people. It demonstrates that adults in a rural community can get the benefits of ICTs only if they have the opportunity to learn and have access to use. Furthermore, gender differences identified in the paper can support gender‐sensitive projects using ICT for development.
The non‐formal business of cyber cafés: a case‐study from India
Authors: Rangaswamy Nimmi 
Published: May 2009

PurposeThe purpose of this paper is to profile everyday management and business strategies of 30 cyber cafés in Mumbai and contextualize them in the broader and pervasive culture of non‐formal economy.Design/methodology/approachThe paper conducts an ethnographic study of open‐ended interviews of cyber café owner/managers to understand everyday patterns of managing a cyber café. The field observations and literature review aid an understanding of non‐formal economy in Mumbai.FindingsThe paper finds three important insights: business with internet technologies, even at the level of a small café, is expensive, requiring reasonable computing skills to maintain or expand business potential; in order to survive expense management several unauthorized practices are routinised and merge with the broader structures of non‐formal economy; and the non‐formality of business practices influence an open, liberal atmosphere to browse the internet and turn in a predominantly youth clientele.Research limitations/implicationsWith regulatory discourse on information and communication technologies (ICTs) centered on piracy and ill‐legality, informality of business practices in emerging economies provide an alternate premise to understand its nature and function. These challenge received notions of visualizing ICT as simply piracy and coming to terms with markets shaped and structured by non‐formal processes.Originality/valueThe study is one of the first on cyber cafés in Mumbai using the framework of non‐formal economy to analyse data. This paper presents the connections between a small ICT‐enabled business and the pervasive culture of non‐formal business relations in Mumbai. It also reports on the everyday organizational practices and client usages of internet cafés in India.
Reassessing social inclusion and digital divides
Authors: Al‐Jaghoub Saheer , Westrup Chris 
Published: May 2009

PurposeDigital and social inclusion are becoming more talked about as approaches to what has been discussed as the digital divide. But what is digital or social inclusion? The purpose of this paper is to explore the notion of social exclusion as a variety of, sometimes conflicting, social programmes which embody ideas of what society should be. Becoming more aware of this variety of approach can give insights into programmes addressing the digital divide and the political, cultural and social aspects of policies of social inclusion.Design/methodology/approachThe paper analyses the notion of social inclusion as a variety of social policies to address social exclusion and develop the nation state. It uses an example of a telecentre in Jordan's knowledge station (KS) programme to illustrate and extend this analysis.FindingsThe analysis and discussion of the KS initiative shows how different notions of social and digital inclusion are important features of strengthening the Jordanian state and are useful in analysing the relative success of this programme.Originality/valueThe paper argues that analyses of digital divides and digital exclusion could be strengthened by a closer understanding of policies of social inclusion. In this way it is possible to move from technological connection as a measure of a digital divide to a more thorough understanding using social inclusion policy which illuminates social, political and cultural aspects of technological change.
Indigenous communities and new media: questions on the global Digital Age
Authors: Rekhari Suneeti 
Published: May 2009

PurposeThe purpose of this paper is to look at some of the issues surrounding access to and the use of new media technologies by Indigenous people in Australia and question why this is an area of study that receives a marginal focus in academic work.Design/methodology/approachDrawing on previous literature in the area of information and communications technology (ICT) adoption and social exclusion, this paper combines the methodological frameworks adopted by hegemony research and more general studies of new media.FindingsThe paper discusses the impacts of new media use by Indigenous communities, within the framework of discussions about a “global Digital Age”. The paper also briefly looks at the social implications of new media adoption.Originality/valueIt questions the assumption that adoption and use of new media is for the “good” or “benefit” of all. It will be of value to researchers of ICT adoption by Indigenous communities.
Biculturalism online: exploring the web space ofAotearoa/New Zealand
Authors: Muhamad‐Brandner Catharina 
Published: May 2009

PurposeMāori culture is a central aspect inAotearoa/New Zealand's national identity. Beginning in the 1970s biculturalism saw the indigenous culture and values acknowledged and incorporated in wider public discourse and policy. The purpose of this paper is to investigate whether New Zealand's cyberspace accommodates Māori. It explores how the web space is influenced by biculturalism and in turn what an understanding of this web space can tell us about biculturalism inAotearoa.Design/methodology/approachA brief introduction to biculturalism in New Zealand provides the background to the investigation of the country's web space. Recent access statistics enquire whether Māori are actually connected to the internet. The exploration of the structure of the internet is informed by newspaper articles and online documents relating to the development of two Māori specific second‐level domain name spaces. A word‐frequency analysis within a sample of 21 websites provides an overview into the use of the Māori language in cyberspace.FindingsThe paper shows that although Māori have the lowest access rate to the internet compared to other ethnic groups in New Zealand, their influence on the country's web space is nonetheless far‐reaching. Developments regarding Māori language uses over the last years are generally progressive. Māori culture and ongoing social changes are increasingly accommodated on the internet – Māori have been actively shaping the web space. However, these efforts do require the support and acceptance of the wider Internet community. The linguistic and structural developments taking place online since the mid 1990s were influenced by the bicultural thinking, public discourse and practice of the time.Originality/valueThis paper draws together the Māori success‐stories in their endeavour to assert their cultural needs in New Zealand's cyberspace. It highlights that the understanding ofAotearoaas being a bicultural country influenced developments taking place online potentially will lead to a truly bicultural web space in the near future.
Are socially exclusive values embedded in the avatar creation interfaces of MMORPGs?
Authors: Pace Tyler , Houssian Aaron , McArthur Victoria 
Published: May 2009

PurposeThe purpose of this paper is to show how both the presentation and limitation of visual choices in massively multiplayer online role‐playing games (MMORPG) avatar creation interfaces tends to exclude or favor different real life social groups.Design/methodology/approachA novel method combining both quantitative and critical analysis of the syntagmatic‐paradigmatic structure of MMORPG avatar creation interfaces is used to inform the findings of this study.FindingsThis study concludes that as cultural interfaces, current fantasy themed MMORPGs remediate socially exclusive values both from fantasy literature and from their own game lore. The socially exclusive values deal largely with extreme and immutable racial and sexual dimorphism.Research limitations/implicationsInterfaces which present users with color palettes and/or smooth slider‐based body modifiers do not lend themselves well to this method of analysis. In addition to this, only a handful of the popular MMORPGs are analyzed within the body of this work.Practical implicationsThis paper demonstrates that MMORPG players and designers need to be more aware about how they are constructing and embedding social values in their worlds. Avatars are critical conduits for online social dynamics and embedding socially exclusive values may transfer negative ideologies from old media to new.Originality/valueThis paper offers one of the earliest critiques of embedded values in avatar creation interfaces of MMORPGs. The paper aims to begin discussion on an overlooked area of now popular media that has not received any critical attention regarding its embedded messages of social inclusiveness or exclusiveness.