Tax Law (Books and Journals)
3088 results for Tax Law (Books and Journals)
- Editorial: Research impact of the real estate journals
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Practice Briefing: The inception and preliminary performance analysis of REITs in the Kingdom of Saudi Arabia
Purpose: The Saudi REIT market’s introduction in 2016 was part of the Kingdom of Saudi Arabia’s Vision 2030 master plan to diversify the country's sources of revenue and reform its financial sector. Despite the Saudi REIT market’s nascent state, it has experienced significant growth in a short period of time, being the largest REIT market in MENA. Saudi REITs are designed using well-established...
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Financial inclusion and bank stability: evidence from capital buffer and capital adequacy ratio
Purpose: This study aims to examine the effect of financial inclusion on bank stability, and the effect of bank stability on financial inclusion from 2011 to 2020. Design/methodology/approach: This study analyses 33 countries which are divided into Asian countries, African countries, European countries and countries in the region of the Americas and using the panel regression method. Findings:...
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Influence of oil price fluctuations on inflation uncertainty
Purpose: The purpose of this study is to achieve a comprehensive understanding of how the intricate interconnections between oil price fluctuations, supply chain disruptions and shifting demand patterns collectively shape inflation dynamics within the Chinese economy, especially during critical periods such as the Covid-19 pandemic and geopolitical events like the Russia–Ukraine conflict. The...
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Real Estate Insights: The impact of amenities on residential rents – exploring the urban rent premium in Berlin’s vibrant community hubs
Purpose: Integrating amenity scoring into real estate investment strategies represents an innovative approach. The case study focuses on the impact of amenities on residential rents, with Berlin serving as an example of a tight rental market and a dynamic city. The scoring and modeling approach offers a scalable framework for identifying high-potential investment opportunities. Design/methodology
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Economic complexity in Africa: the role of Chinese FDI and trade
Purpose: This study aims to examine the effect of Chinese foreign direct investment (FDI) and trade on economic complexity in Africa. Design/methodology/approach: Panel data from 34 African countries between 2003 and 2022 are used. This study analyzes the data using a two-stage least square proposed by Lewbel (2012) and Driscoll and Kraay (1998) estimator based on robust standard errors and...
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Is the country’s preparedness for epidemics and pandemics an FDI location factor? An empirical analysis using panel data
Purpose: This study aims to validate the hypothesis that a country’s preparedness for epidemics and pandemics, as measured by the GHS Index, significantly influences inward FDI inflows. By examining panel data from 2019 to 2021, the research seeks to elucidate the impact of heightened epidemic and pandemic preparedness on investment behavior, thereby highlighting the importance of health...
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Evaluating India’s FDI as a nonparticipant in the Belt and Road Initiative: synthetic control method analysis
Purpose: The Belt and Road Initiative (BRI) was launched in 2013 and implemented the following year, marking 11 years since its inception. During this time, numerous research papers have been published that analyse the initiative’s objectives, targets and potential outcomes. This study aims to assess India’s resilience in joining the BRI by examining its net foreign direct investment (FDI)...
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Fractal momentum investment strategies based on liquidity non-linear fluctuations in Chinese stock market
Purpose: This paper aims to the relationship between liquidity fluctuation trends and stocks’ expected returns. Design/methodology/approach: The authors use the multi-fractal detrended fluctuation analysis to study the liquidity non-linear multi-fractal characteristics of stock market and predict the future volatility trend of market liquidity with the help of potential entropy dimensional model
- Editorial: Property valuation – Pellucidity is apparent
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Inflation hedging: a comparative wavelet quantile correlation analysis of real estate and alternative assets
Purpose: Conducting an analysis spanning from 2000 to 2023, this research evaluates the effectiveness of real estate assets in hedging against global and energy inflation, benchmarked against other compelling investment options such as oil, gold, silver and stocks. Design/methodology/approach: This study employs the wavelet quantile correlation (WQC) methodology. The latter sheds light on...
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Barriers in achieving quality valuations: the New Zealand perspective
Purpose: To inform ways of improving valuation quality, this study seeks to understand the lived experiences of practising valuers regarding the challenges of conducting quality valuations. Design/methodology/approach: This study adopts a qualitative strategy involving 19 semi-structured interviews with valuers in New Zealand. The interview data were analysed using progressive comparative...
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The relative importance of economic policy uncertainty and geopolitical risk on U.S. REITs returns
Purpose: Our aim in this study is to investigate the relative importance of the economic policy uncertainty and of the geopolitical risk on U.S. REITs (Real Estate Investment Trusts) returns with a special focus on the different real estate sectors. Design/methodology/approach: We use an augmented Fama-French (1993)’s asset pricing model, including economic policy uncertainty indices (EPU),...
- Guest editorial: Embracing ESG in valuation: a paradigm shift in the International Valuation Standards
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Does the S-curve demonstrate an asymmetrical response to fluctuations in exchange rates?
Purpose: This study aims to examine the asymmetric S-curve between the trade balances of Pakistan and China at the commodity level using disaggregated data. Design/methodology/approach: This study focuses on Pakistan and China bilateral trade based on commodity-level data. This study delves into the S-curve phenomena by examining time series data from 1980 to 2023 across 32 three-digit...
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Is there a diversification paradox in real estate investment funds' value?
Purpose: This paper studies diversification and value in the investment portfolios of (non-listed) Real Estate Investment Funds (REIFs) exploring how the value of diversification is captured by the market and by investors (beyond reported valuations). Design/methodology/approach: We apply the Herfindahl-Hirschman Index (HHI) to study the level of concentration versus diversification in the...
- Editorial: Basel 3 prudently conservative value for loan origination and monitoring
- Eulogy: Dedication to Andrew (Drew) Sanderford (7 October 1982–31 August 2023)
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Real Estate Insights: The current state and the new future of tokenization in real estate
Purpose: This real estate insight provides a comprehensive analysis of the current state and future potential of tokenization in the real estate industry mentioning several challenges to overcome to take advantage of this technology. We highlight potential benefits, including enhanced liquidity, increased security and improved accessibility. Additionally, the real estate insight critically...
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Practice Briefing: A comprehensive negotiation framework for real estate professionals (Part II)
Purpose: The purpose of this briefing, which is Part II of a two-part series, is to address the challenges faced by real estate professionals in negotiations, advocating a shift from traditional win-lose strategies to a value win-win approach and providing a path for this transition. It highlights the importance of continuous negotiation learning and adaptation in an evolving industry,...
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Real Estate Insights: The “S” in ESG: unlocking financial performance through human capital and real estate integration
Purpose: This study aims to provide a different view of existing statistics and apply them to a current topic. Design/methodology/approach: This study puts previous literature together in a way that supports a real estate-focused viewpoint. Findings: The build environment can help or hinder diversity in the workplace. Research limitations/implications: Limitations of this study are that it is...
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Digital financial inclusion and inclusive development in lower-middle-income countries: the enabling role of institutional quality
Purpose: This study aims to explore how institutional quality links digital financial inclusion to inclusive development in lower-middle-income countries, considering heterogeneities. Design/methodology/approach: The study uses dynamic generalized method of moments to analyze a balanced panel data set of 48 lower-middle- income countries (LMICs) from 2004 to 2022, sourced from various databases.
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CHEER and markets’ integration: evidence from selected East Asian economies
Purpose: This paper aims to investigate markets’ integration using the capital enhanced equilibrium exchange rate (CHEER) model for seven, highly competitive, East Asian countries. Design/methodology/approach: The sample consists of monthly observations, whereas unit root and cointegration techniques with structural shifts have been used. Findings: The evidence shows that the weak form of the...
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Practice Briefing: Property valuation and market cycles
Purpose: The intent of this practice briefing is to provide clarity on the role of market cycles in influencing property valuations at specific points in time. Market cycles are important to the valuation function as real estate cycles have been a critical underlying reason for the financial successes and failures of real estate investments throughout history. Design/methodology/approach: This...
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Practice Briefing: The implications of a move towards explicit discounted cash flow (DCF) models for property investment valuations
Purpose: The primary purpose of this Practice Briefing is to examine the implications of the recommendations of the Royal Institution of Chartered Surveyors (RICS) Review of Investment Valuations to shift towards (explicit) discounted cash flow (DCF) valuations on valuers, clients, risk management and market data. Design/methodology/approach: This Practice Briefing will develop a conceptual...
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Real Estate Insights: Establishing transparency – setting AI standards in property valuation
Purpose: This real estate insight scrutinises the emerging role of Artificial Intelligence (AI), particularly Large Language Models (LLMs) like ChatGPT, in property valuation, advocating for establishing standardised reporting guidelines in AI-enabled property valuation. Design/methodology/approach: Through a conceptual exploration, this piece examines the shift towards AI integration in...
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COVID-19 pandemic and linkage between stock markets in Middle Eastern countries
Purpose: The purpose of this study is to evaluate the linkage between stock markets in Middle Eastern countries before and during the COVID-19 pandemic by using daily and monthly data sets for the period from 2011 to 2021. Design/methodology/approach: The multivariate BEKK-GARCH model was computed to evaluate the existence of non-linear linkage among Middle Eastern stock markets. A correlation...
- Editorial: China’s economic growth in a global context: challenges and opportunities and future research
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Multilevel modelling, location and property valuations: an application to the Italian residential market
Purpose: The use of statistical methods in the field of real estate appraisals presents a trade-off between the efficiency of the estimates (that would require the use of sophisticate econometric models) and the ease of the economic interpretation of the outcomes (that characterises the hedonic pricing models). This paper shows that multilevel modelling (MLM) can represent a suitable solution to...
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Impact of factory certifications on firm resources: a quantitative content analysis of the Bangladeshi readymade garments (RMG) industry
Purpose: This study aims to investigate the association between certifications in the Bangladeshi readymade garment (RMG) sector and diverse firm resources, contributing to Bangladesh’s competitive advantage. Design/methodology/approach: The study conducted a quantitative content analysis of 366 Bangladeshi RMG firm websites, using Barney’s (1991) resource-based theory (RBT) framework. Pearson...