Why are REITS Currently So Expensive?

Over the last several years, the price of listed real estate stocks has been unusually high relative to dividends. I find that neither low interest rates nor low risk premia can account for the high valuation ratios. Lower interest rates have been offset by rising risk premia to keep expected returns close to average. Instead, the market has priced in future income growth on commercial properties far above the growth rates seen in the data. High implied growth rates are less extreme for nontraditional REIT sectors. Income growth expectations are also less extreme for international listed real estate.     

“I want you back”: On the strategic roles of boundary spanners in supplier switching-back processes

This paper builds upon literature addressing boundary spanners and switching suppliers in order to explore an under-examined aspect of buyer–supplier relationships: how different individuals at multiple organisational levels affect processes by which firms return, or “switch back”, to former suppliers after breaches in their relationships. Our study followed a qualitative approach by applying an abductive research methodology to make sense of 85 semi-structured interviews with executives involved in the erstwhile buyer–supplier relationships that we investigated. We found that supplier switching-back processes (SSBPs) can be understood as constituted by a set of alignments and misalignments between boundary spanners (i.e. top management, purchasing and sales agents, engineers and technicians) in the organisations involved. Thus, peoples' interactions, or lack thereof, directly affect the possibility for buyers and suppliers to restore their severed relationships. We conclude that boundary spanners pursue seven distinct roles during different periods in SSBPs, roles that relate to three identified functions of boundary spanners in such processes. The paper closes by highlighting what our findings imply for business managers, limitations and some possible directions for future research.     

“低成本生活”Are you ready?

原本与"底层生活"紧密联系的"低成本生活",突然成了一种时尚,勒紧裤带过紧日子,环球同此凉热。在法国,"零欧元生存"已经成为一种时尚,廉价商店门口泊着越来越多的高档车;在美国,越来越多的人成为"简朴生活"的信徒;在中国大陆,市民进入高校食堂进餐悭钱一时成风;在台湾地区,政府力推"节能减碳",世界各国的     

How should you stabilise your supply chains?

This case based research paper examines the stabilisation strategies used within seven supply chains and presents a framework to help practitioners stabilise their chains. The findings show that organisations should first select a cushioning strategy and then reduce demand uncertainty to lower the level of cushion held. However, they need to recognise that other organisations within the supply chain are making similar decisions and the whole supply chain needs to be stabilised. Despite this, businesses seem to only share information about their demand uncertainty-reducing mechanisms and not their cushioning strategies. This means that companies often make decisions in isolation of each other, which can then destabilise the chain.     

Post-merger Price Dynamics Matters,So Why Do Merger Retrospectives Ignore It?

Review of Industrial Organization - The overwhelming majority of retrospective merger studies pool the post-merger data to estimate the average price effect of the merger. Pooled post-merger...     

Who do you think you are? Individual stakeholder identification and mobility at the Internet Governance Forum

In order for the Internet Governance ecosystem to work effectively, it requires a variety of expertise and advice from different sectors and backgrounds. Drawing on the public Internet Governance Forum (IGF) participation lists from 2006 to 2019, this paper analyses how individual participants chose to identify themselves in the given frameworks applied across the IGFs, and how they ‘travel’ through the Internet Governance ecosystem over successive fora. Identifying 18,968 unique IGF participants from 2006 to 2019, representing 7326 unique organisations, this paper thus provides an unprecedented level of detail as to who is present in multistakeholder discussions. It sets the scene for a more reflective discussion on the inclusivity and effectiveness of the multistakeholder model pursued at the IGF and engages with literature in the field of stakeholder mobility and stakeholder interests, opening up potential for further research on the legitimacy of multistakeholderism.     

Why a New Journal?

Speaking both personally and officially, I am delighted to salute the appearance of this first issue of Industrial Relations: A Journal of Economy and Society. Since my service as the first Director of the Institute of Industrial Relations at Berkeley, I have retained a close personal attachment to the Institute and a sense of pride in its growing record of accomplishment. And because I am a student in the industrial relations field, I can speak with some personal conviction of the great need for this type of publication. As President of the University of California, I am pleased to see this new venture undertaken by the Institute of Industrial Relations, one of the University’s many important research and service organizations. The publication of new knowledge, insight, and scholarly speculation is an essential part of the advancement of learning. The free marketplace of ideas cannot operate effectively without the avenues of communication provided by the scholarly journals which serve every field of research. I am sure that Industrial Relations will prove a stimulating vehicle for the exchange and development of ideas about a highly significant segment of modern industrial society.     

What is a CAR?

什么是一辆车?当汽车的外形和我们对汽车性能的要求发生碰撞;汽车外形代表其身上所被赋予的哪些含义;车的形态如何受到制造条件的限制。这些是汽车设计师们一直要解决的问题,那些世界上顶尖的汽车设计师们又是如何思考的呢?本期设计让我们一起走进世界著名三大汽车设计师之一,ChrisBangle的设计世界。     

Will a specialty business become a commodity business?

The adhesive industry is a multibillion industry with numerous companies vying for the sales dollar. These specialty adhesive companies are evaluated to ascertain whether or not the business/industry is moving toward becoming a commodity business. Both quantitative and subjective analysis of these specialty businesses is undertaken to evaluate the business current condition and their future.