Office Construction in Singapore and Hong Kong: Testing Real Option Implications

We advance the real-option-based empirical analysis of commercial real estate investment in three respects. First, we test several real option implications for real estate construction that have not been examined in the commercial real estate investment literature. In particular and in line with the predictions of real option models, we show that the effects of real interest rate and the expected demand growth on hurdle rent become more negative when the market volatility is greater. Second, we use a cointegrating vector of office employment and office stock to provide a better control of the demand for new construction than traditional indicators based on real estate prices and vacancy rates. Third, whereas the existing studies focus on the U.S. commercial real estate markets, we study two major office markets in Asia, namely Singapore and Hong Kong. We rely on the local stock market in the two city states to derive forward-looking measures of office demand growth expectations.

International purchasing offices: Literature review and research directions

International Purchasing Offices (IPOs) now play an increasingly important role in the management of international sourcing activities, both in developed and emerging economies. The relevance of this organisational solution and the relatively limited research that has been published so far in the P&SCM literature make the “IPO” topic particularly promising for future research. This paper – based on an analysis of 59 works published between 1991 and 2011 – provides the first comprehensive literature review and research agenda on this topic. The primary issues (i.e., IPO definition, activities, location choices, strengths, weaknesses, and human resources management) are identified, and a conceptual framework is proposed. Building on this analysis, some theoretical and methodological weaknesses of the existing works and some gaps in the literature are discussed. This work concludes by suggesting several future research directions.     

Ex ante identification of disruptive innovations in the software industry applied to web applications: The case of Microsoft's vs. Google's office applications

This paper analyzes the question whether web applications pose a disruptive threat to incumbents or a disruptive growth opportunity for entrants in the application software industry using a novel method for ex ante identification of disruptive innovations in the software industry. Building on the theory of disruptive innovations, network effects and existing frameworks for the ex ante identification of disruptive innovations a new method of analysis is deduced. The analysis is based on a list of criteria that indicate a disruptive innovation and trajectory maps of the technologies' performance attributes. This method is applied to study the potential disruption of Microsoft's desktop office applications by Google's web-based office applications.The chosen method of analysis indicates a small likelihood for web applications to pose a disruptive threat to Microsoft, and by extension, to incumbents in the software industry. While web applications show a potential to satisfy market demand in established performance attributes, strong network effects in existing software products should give incumbents enough time to co-opt the innovation. The case illustrates how our new method to analyze disruptive potential in the software industry ex ante can help to apply the theory of disruptive innovation better for forecasting purposes and to provide novel strategic insights for the players involved.     

THE POLITICAL ELEMENT IN THE WORKS OF W. ARTHUR LEWIS: THE 1954 LEWIS MODEL AND AFRICAN DEVELOPMENT

William Arthur Lewis, the Nobel Prize awardee in 1979, was actively involved in politics and policymaking. During World War II, Lewis was appointed to be a young advisor to the British Colonial Office where he came into direct collision with the mainstream laissez‐faire philosophy. After the War, Lewis took the lead in a Fabian conference on colonial question, and his encounter with Kwame Nkrumah eventually compelled him to write an important monograph on the prospect of plural governance in Africa. Through a rereading of Lewis's original texts, it is demonstrated that his emphasis on peasant‐led agricultural development and advocacy of political pluralism were consistently manifested in his academic and nonacademic writings on tropical regions, especially on Africa, contrary to the conventional interpretation of his 1954 model of “Economic Development with Unlimited Supplies of Labour,” which has tended to pin much faith on top‐down industrialization.     

Workplace romance across different industries with a focus on hospitality and leisure

Workplace romance is not a new phenomenon; yet, not many studies have investigated this matter in organizational behavior research. Leisure and hospitality industry holds the highest rate of workplace romance (57%) among different industries. In this study, following the theory of love, we have defined workplace romance as a romantic relationship among organization employees that is hypothesized to be determined by interpersonal solidarity, interpersonal attraction, physical attraction, motivation, perceived value, and attitude towards workplace romance. Using a sample of 603 employees from 13 industry categories, the proposed hypotheses were tested by employing both variance- and covariance-based structural equation modeling. Furthermore, the moderation impacts of organizational factors of injustice perception, culture and policies, organization size, and autonomy, as well as individual factors of previous experience, gender, and marital status along with the industry factor were tested. The results supported all the hypotheses except the hypothesis concerning the impact of attitude towards workplace romance. Findings also provide some interesting differences among moderating variables.     

The rise and fall of William Bassett Chinnery

The purpose of this article is to explain how William Bassett Chinnery, who was appointed Agent for New South Wales on 1 May 1787, was enabled to embezzle more than £80,000 of Treasury funds prior to his dismissal on 17 March 1812. In this chronicle attention is concentrated on Chinnery's duties and peculation rather than his private life and his love of music which has been exposed elsewhere ( Yim, 2004 ). Attention is paid to accounting and control systems used at the British Treasury and the function and operation of the Audit Office which was established in 1785. In conclusion, it is argued that Chinnery was able to avoid detection because contemporary charge and discharge reporting, cash control and auditing were inadequate.     

Nutrient composition of selected fresh and processed fish species from lake Malawi: a nutritional possibility for people living with HIV/AIDS

Nutrition is important for both healthy and sick people. Unfortunately for sick people, especially those living with HIV/AIDS, the emphasis has mostly been on drugs at the expense of nutritional aspects. People living with HIV/AIDS and related diseases need a lot of protein and energy‐rich foods together with vitamins and minerals. Fish are particularly rich in these nutrients. In Malawi, fish are harvested in large numbers and to avoid deterioration, some are smoked, sun dried or partially boiled and then sun dried. Since the nutrient contents of the fresh and processed fish may differ, a study was carried out on four different fresh and processed fish species (Copadichromis inornatus, Rhamphochromis ferox, Engraulicypris sardella and Oreochromis lidole) in order to determine which species was the more nutritive. The results showed that E. sardella and C. inornatus species, fresh or processed, had relatively higher (P < 0.001) protein content (58.22 ± 0.6% and 57.78 ± 0.7% respectively), fat (25.2 ± 1.2 and 22.08 ± 0.4% respectively), energy (24086.7 ± 151.7 J/g and 22204.9 ± 84.7 J/g respectively) than either R. ferox or O. lidole. Although the R. ferox species had lower protein, fat and energy than E. sardella or C. inornatus, this species had higher available lysine content. Calcium and magnesium contents of E. sardella and C. inornatus were however, slightly lower (P < 0.001) than those of the other two species. There were variations between and within the species for all parameters analysed. The results obtained in this work suggest that people living with HIV/AIDS in Malawi can best build their muscle and get more energy and minerals from the E. sardella and C. inornatus fish species. It would therefore be recommended that appropriate technologies for improving the availability and productivity of such fish should be developed and tested for people living with HIV/AIDS or affected households. However, it is suggested that a larger group of the commonly available fish species should be analysed so as to offer a wider choice to consumers.     

办公环境改造的可持续性研究

“两型社会”建设的不断推进对能源与环境提出了更高的要求，办公环境作为一种重要的建筑空间类型，对于能源和生态环境的保护更是责无旁贷。文中从分析办公环境的现状展开，提出了其可持续性改造构想。     

Can Space Syntax Help Us in Understanding the Intraurban Office Rent Pattern? Accessibility and Rents in Downtown Stockholm

The effect of accessibility upon rent is investigated for office properties located in Downtown Stockholm. Starting from the firm’s cost minimization problem, a translog hedonic model is derived. The results suggest the model has good predictive power in explaining the variation in the log of the rent. A negative rent gradient is obtained with a base approximately 90 m from the postulated focal point. It appears as if Space Syntax adds important information to the understanding of the intraurban office rent pattern.

办公空间设计中光的运用

光能赋予办公空间多样化的视觉艺术效果,具有重要的意义。光作为承载办公空间信息的载体之一,以多样的语汇传递着环境与使用者之间的“对话”,同时决定着整个办公环境空间设计的好坏与否。