International Journal of Strategic Property Management (Int J Strat Property Manag)

Publisher: Taylor & Francis

Journal description

International Journal of Strategic Property Management is a peer-reviewed, interdisciplinary journal which publishes original research papers. The journal provides a forum for discussion and debate relating to all areas of strategic property management. Topics include, but are not limited to, the following: asset management, facilities management, property policy, budgeting and financial controls, enhancing residential property value, marketing and leasing, risk management, real estate valuation and investment, innovations in residential management, housing finance, sustainability and housing development, applications of information technologies in property management, mathematical methods in property management, international comparisons and developments, theoretical and conceptual frameworks for strategic property management, etc. All submissions are subject to review by two independent referees.

Current impact factor: 1.62

Impact Factor Rankings

Additional details

5-year impact 0.00
Cited half-life 2.70
Immediacy index 0.22
Eigenfactor 0.00
Article influence 0.00
Website International Journal of Strategic Property Management website
Other titles International Journal of Strategic Property Management (En ligne)
ISSN 1648-715X
OCLC 300275506
Material type Periodical, Internet resource
Document type Internet Resource, Journal / Magazine / Newspaper

Publisher details

Taylor & Francis

  • Pre-print
    • Author can archive a pre-print version
  • Post-print
    • Author can archive a post-print version
  • Conditions
    • Some individual journals may have policies prohibiting pre-print archiving
    • On author's personal website or departmental website immediately
    • On institutional repository or subject-based repository after a 18 months embargo
    • Publisher's version/PDF cannot be used
    • On a non-profit server
    • Published source must be acknowledged
    • Must link to publisher version
    • Set statements to accompany deposits (see policy)
    • The publisher will deposit in on behalf of authors to a designated institutional repository including PubMed Central, where a deposit agreement exists with the repository
    • SSH: Social Science and Humanities
    • Publisher last contacted on 25/03/2014
    • This policy is an exception to the default policies of 'Taylor & Francis'
  • Classification

Publications in this journal

  • [Show abstract] [Hide abstract]
    ABSTRACT: This study investigates the economic value added (EVA) of 18 major Chinese property companies from 2006 to 2012. We categorize the companies in two ways: 1) companies concentrating on property vs multi-functional companies and 2) state-owned enterprises (SOEs) vs privately-owned enterprises (POEs). We find that on average, the mainland property companies experienced a negative EVA during the period 2006–2012. This is due to the companies undertaking long-term projects, and the companies do not recognize capital gain from property appreciation as income. Hence the EVA of the companies is, in fact, understated. The results also reveal that POEs outperform SOEs in terms of EVA. This reflects the inefficiency of SOEs. This research has two important implications to investors. Firstly, besides looking at the EVA of the companies, investors should also understand the nature of businesses of the companies thoroughly. Secondly, investors investing in emerging markets like China should have a thorough understanding of their market characteristics. This study can act as a reference for future studies in EVA of property companies in other emerging economies in the world.
    International Journal of Strategic Property Management 07/2015; 19(3). DOI:10.3846/1648715X.2015.1052766
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    ABSTRACT: The development of suburban residential areas influences the increasingly growing disparities between residential areas of a local municipal network. Real positive indicator values of settlements are usually used by planners to characterise the residential quality of a suburban settlement and to decide on its future development. These values frequently differ from choices made by urban residents on living under conditions of such interpretive suburban residential quality. It is the essence of spontaneous development in suburbs. This article aims to devise an integrated evaluation instrument that combines the objective and subjective evaluation of the quality indices of suburban residential environment. It introduces the following topics: (1) the identification of subjective and objective indices of the suburban residential environment; (2) development of the previous conceptual model of subjectively and objectively integrated quality indices used for the assessment of the suburban residential environment, and (3) comparison of suburban settlements by the existing conditions of the residential quality and the quality of the residential environment expected by potential residents. This piece of work is a part of a wider research.
    International Journal of Strategic Property Management 07/2015; 19(3). DOI:10.3846/1648715X.2015.1051164
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    ABSTRACT: Company performance self-assessment (CoPSA), whose fundamental purpose is to provide a check-and-balance mechanism for practice performance through progress-and-performance self-assessment (PaPSa) is yet to be in place in the facilities management industry. Specially needed by facilities service outsourcing firms (FSOFs), CoPSA benefits the top management from organizational introspection of company's own performance. This paper proposes and tests a CoPSA model using a parametric approach. Managers’ perceptions about service delivery performance of their firm are measured using the likert scale and then deduced into a three-equation two-step recursive model. From a total of 207 randomly chosen Malaysian outsourcing firms, sixty responses were obtained. The results indicate that more than half of the sampled managers have envisioned high performance delivery, with 80% achievement as their goal. However, this has not been adequately supported by a coherent firm's internal structure. In view of the finding, the study concludes that the service delivery strategy of small fSofs in Malaysia is perceived to be rather passive.
    International Journal of Strategic Property Management 07/2015; 19(3). DOI:10.3846/1648715X.2015.1054920
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    ABSTRACT: Price and residential housing attributes have long been identified as key determinants of home sales and, as such, they can explain time-on-the-market (TOM). It is acknowledged, however, that there are other factors (or determinants) that influence home sales and TOM, which are of great importance but seldom taken into account in the appraisal process of residential real estate. Based on the use of fuzzy cognitive mapping, we propose a framework that adds value to the way that key determinants of housing sales and TOM are identified. This framework is the result of a process involving several residential real estate experts (i.e. appraisers and realtors), and follows a constructivist approach. Our findings suggest that the use of fuzzy cognitive maps (FCMs) allows the number of omitted determinants to be reduced and the understanding of the relationships between them to be improved. The strengths and weaknesses of our methodological framework are also discussed.
    International Journal of Strategic Property Management 07/2015; 19(3). DOI:10.3846/1648715X.2015.1052587
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    ABSTRACT: The distribution pattern of housing in any urban area will be extremely diverse and heterogeneous. The shape of this pattern depends on intrinsic properties of the housing units themselves as well as on accessibility, environmental quality and the capacity and quality of previously constructed housing stock. How do households make their choices and distribute themselves among such diverse housing areas? The aim of this investigation is to put the factors that could define the choice structure of households by focusing on two different-size cities in Turkey: the Istanbul Metropolitan Area (IMA), where the housing choice is expected to dependent upon economic behavior of households, and Bandırma (BND), a medium-size city, where the housing market is relatively weaker and the choice structure is expected to dependent upon the limited opportunities of supply. The investigation results show that households’ socio-economic characteristics dominate the choice structure in the IMA parallel to the expectation. Housing properties have a more notable impact on the choice structure in BND that acknowledged the relative limitation of the housing market.
    International Journal of Strategic Property Management 06/2015; 19(2). DOI:10.3846/1648715X.2015.1029563
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    ABSTRACT: This paper investigates the impact of internationalization and diversification strategies on the financial performance of construction industry companies. The results obtained can guide the design of strategies to pursue company growth and achieve competitive advantage. The evaluation of companies’performance is based on the use of the Data Envelopment Analysis technique to aggregate financial indicators using optimized weights. The impact of internationalization and diversification on company performance is explored using truncated regression, controlling for the effect of contextual factors such as company age, size and time. Data Envelopment Analysis and truncated regression were complemented with bootstrapping to ensure the robustness of the results obtained. The activity of Portuguese and Spanish contractors in the period 2002 to 2011 is used as case study. The empirical results show that internationalization has a positive impact on financial performance, although this effect is only statistically significant for Spanish contractors. Diversification has a nonlinear relationship with performance, benefiting companies with either a small number of core activities or companies with a broad scope of activities.
    International Journal of Strategic Property Management 05/2015;
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    ABSTRACT: Land auction is widely practiced in company and government decisions, especially in China. Bidders are always faced with two or more auctions in the period of a decision cycle. The outcome of the auction is under high risk. The bidder's risk attitude and preference will have a great influence on his/her bidding price. Prospect theory is currently the main descriptive theory of decision under risk. In this paper, we will consider the preferences of the decision-makers in land bidding decisions with the multi-attribute additive utility and reference point method in cumulative prospect theory. Three land auction models are proposed based on the appearance time of the land auctions. The simultaneous model uses cumulative prospect theory without considering the relationships between the auctions. The time sequential model involves the exchange auction decisions at different time with the third-generation prospect theory. The event sequential model further considers the reference point prediction in sequential land auction decisions. The three models can help the decision-makers make better bidding price decision when they are faced with several land auctions in the period of a decision cycle. A case study illustrates the processes and results of our approaches.
    International Journal of Strategic Property Management 04/2015; 19(2):186-205. DOI:10.3846/1648715X.2015.1047914
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    ABSTRACT: Extant studies indicate that the excessive easing of monetary supplies can result in surplus liquidity, which can consequently facilitate the formation of asset bubbles. This study references data on house prices in the U.S. from January 1991 to August 2012 to explore the correlations between monetary liquidity and house price bubbles in the U.S. housing market. Fluctuations in house prices are classified as related to either fundamentals (the mean reversion behavior and responses to information of the current period) or bubbles (self-related behavior). Results show a significant correlation between the formation of housing bubbles and monetary supplies. Long-term easing of monetary supplies can cause housing marketing returns to deviate from fundamentals, which then results in an increase in continuous fluctuations in house prices and the likelihood of the formation of house price bubbles.
    International Journal of Strategic Property Management 04/2015; 19(1):1-12. DOI:10.3846/1648715X.2014.973465
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    ABSTRACT: The article presents the results of the analysis of Vilnius district commercial-industrial zones. The criteria of analysis are: geographic location, plots and/or groups of plots in the area, operating and planning activities of companies as well as the infrastructure and transport communications development at the engineering level. A theoretical model for investment strategy selection is introduced to identify the possibilities of investment attractiveness. The principle of the investment option with the system of characterizing indicators for development is offered to reflect the lack of cohesion between practical investment promotion and sustainable development of the territories’ indicators.
    International Journal of Strategic Property Management 04/2015; 19(1):84-95. DOI:10.3846/1648715X.2015.1027321
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    ABSTRACT: This paper estimates technical efficiency in the Spanish construction sector before and after the start of the current financial crisis, and examines the impact of socio-economic factors on technical efficiency. Bias-corrected efficiency measures are obtained using Data Envelopment Analysis with bootstrap for a sample of medium-sized and large construction firms over the period 2000-2010. Next, bias-corrected efficiency scores are regressed on the variables explaining efficiency using bootstrap truncated regression. The results show that technical efficiency is very low and is significantly lower after the beginning of the financial crisis than before. Firms with the highest technical efficiency scores have the lowest input-ratio for material and employee costs to output and the highest for fixed assets. The examination of the determinants of technical efficiency indicates that efficiency is higher for firms that export, are highly leveraged, are integrated in the form of joint stock company, and are located in Spanish regions with higher GDP per capita, while firms with high stock relatively to turnover have lower technical efficiency. Technical efficiency increases with size for relatively small sized construction firms, but decreases beyond a critical firm size, while technical efficiency decreases with age for young firms, but eventually increases for older firms.
    International Journal of Strategic Property Management 04/2015; 19(1):96-109. DOI:10.3846/1648715X.2014.973924
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    ABSTRACT: This study aims to investigate housing market differentiation, drawing upon the results of case studies of the Çankaya and Yenimahalle districts that adopt a set of statistical techniques. As a first step, a cluster analysis is carried out to identify whether identifiable clusters of housing attributes exist on the basis of neighborhoods. Next, a Multiple Discriminant Analysis (MDA) is applied to investigate the differences between clusters, and to understand which housing attributes contribute most to submarket separation. Finally, a hedonic price analysis is conducted for each cluster and for the overall market to identify price differences in the housing market. The results of the study support the hypothesis that the housing market is segmented in Yenimahalle and Çankaya, and that location is the main determining factor in this segmented structure of different house values. The study also reveals that within this segmented structure, each cluster has its own dynamics, and that the price formation in each cluster is dependent on different variables.
    International Journal of Strategic Property Management 04/2015; 19(1):13-26. DOI:10.3846/1648715X.2014.1000429
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    ABSTRACT: This paper investigates tax inequities in assessed values and how these inequities in tax assessments affect house price indices using assessed values statistics. Using the unique rating valuation data from the top 10 cities of New Zealand during the period 1994-2009, it finds that house price measurements using the Sale Price Appraisal Ratio (SPAR) method have performed well compared to the repeated sales method suggested by Case and Shiller (1989) and the assessed values (AV) method proposed by Clapp and Giaccotto (1992). The presence of systematic estimated errors (both vertical and horizontal inequities) in assessed values posts a concern for house price measurements using assessed values statistics. In this situation, both the SPAR and AV methods benefit from the law of compensation of errors by using all transaction data. A policy implication is that the SPAR model is a good choice when using assessed values to measure house price movements at frequent time intervals, in particular for small countries.
    International Journal of Strategic Property Management 04/2015; 19(1):27-41. DOI:10.3846/1648715X.2014.973925