What Is Real Estate Finance?

The Journal of Real Estate Finance and Economics - How does real estate finance relate to the core of contemporary finance? What research in real estate might most interest financial economists?...     

Deepwater energy industry impacts on economic growth and public service provision in Lafourche Parish,Louisiana

Oil and gas produced from active deepwater leases (over 1000 feet water depth) in the Gulf of Mexico as a percentage of total output increased from 27% in 1992 to 54% in 2005. This increase is requiring more land-based services. Port Fourchon's strategic location provides it with a competitive advantage as a supply base for a diverse set of deepwater oil and gas related activities, ranging from petroleum rig supply boats to the maintenance and repair of mobile drilling rigs. Further development of Port Fourchon as a supply base is expected to markedly impact Lafourche Parish. Community impact models (CIM) quantify the linkages among local economic activity and the demand for, and ability to support, local government services. A CIM developed for Louisiana, including an input–output module of the local economy, is used to evaluate the impact of the deepwater energy industry on the economy and government finances of Lafourche Parish. According to model results, the deepwater energy industry will continue to have a significant impact on that economy. By 2010, the industry was predicted to be directly and indirectly responsible for 2593 new jobs and $571 million in total output. Such activity should not strain the ability of local governments to deliver services.     

The impact of corporate and national cultures on decentralization in multinational corporations

We develop and test a model of multinational corporation (MNC) decentralization in which the allocation of decision rights to subsidiaries is explained by aspects of both internal corporate culture as well as external national cultures. We extend the literature on MNC decentralization by testing the impact of both of these factors as determinants within the same model. Drawing on management control theory as a conceptual platform, we argue that the assignment of decision rights to a subsidiary in the MNC is impacted by corporate innovativeness and shared values, as well by aspects of home and host country cultures. We test our model on a sample of 119 MNC subsidiary managers drawn from a diverse range of industries and locations. The findings provide support to the proposition that corporate innovativeness positively impacts the decision to decentralize, whilst also indicating that home country individualism and host country uncertainty avoidance have a significant influence. The findings challenge established international management logic with respect to shared values—this variable is found to have a negative relationship with decentralization. Overall cultural distance is not found to be significant.     

The five stages of fundraising: a framework for the development of fundraising

Little research has been undertaken on the development of fundraising in charities, as distinct from fundraising activities and methods. This paper arose out of a wider study of the impact of environmental factors on charity fundraising in the early 1990s. By looking at the development of fundraising in charities of all sizes, it became clear that there was a framework for fundraising. Specifically, the principal characteristics of the framework were based on the need for voluntary income and the influence of staff or volunteers in the fundraising process. This paper outlines the stages in the development of fundraising and their principal characteristics within the context of market orientation and organisation culture theory. It concludes with some implications for fundraising practitioners. Copyright © 2000 Henry Stewart Publications.     

Wage Effects on the Volume of Unpaid Work in Nuclear Australian Households

Using the 1992 Australian Time-Use Survey, empirical estimates are obtained of the determinants of unpaid work in nuclear household by each adult. Eight types of unpaid work are examined. Wage rates and demographic variables are found to exert most influence on household time devoted to unpaid work. The strongest result is the negative effect of the female wage rate on unpaid work undertaken by females.     

Government and governance: The value of project management in the public sector

Governance is an emerging theme that has been associated in the public sector with a real political need to satisfy stakeholders by demonstrating accountability and transparency while effectively implementing policy. Many initiatives relating to governance are generated by a need for improvement of organizational performance and ability to implement and adapt to change. These generally take the form of projects and programs encouraging a variety of project management implementations in the public sector. This article reports on examination of the expectations and realization of value from investment in project management in four Australian public‐sector organizations with particular reference to the government context, the perspective of public value management (PVM), and the support that project management provides in meeting the demands of public‐sector governance.     

Professional Development for Teachers of probability and Statistics: Into an Era of Technology

The focus of this paper is the professional development of teachers of probability and statistics at school level. Within a world where the statistics curriculum is changing at school level, the professional development needs of teachers of statistics are changing and the technology to meet these needs is changing as well. This paper reviews the work in the field, describes the development of a multimedia package for professional development of statistics teachers and looks to the futrue.