Mobile ticketing systems enable remote and easier access to fare payment for transit users. In this research, we examine the adoption and impact of EZfare – a mobile fare payment technology recently adopted by transit agencies in Ohio and Northern Kentucky. We hypothesize that EZfare adoption by riders across the study area will be different based on individual socioeconomic/demographic attributes. We also expect established EZfare users to travel more frequently over time compared to nonusers. We test these hypotheses with survey data of transit users between October 2020 – July 2022. We find that being unbanked or above 45 years of age reduced the odds of EZfare use by 60 % and 49 % respectively. While low-income status (household income below $20,000) was not significantly associated with later adoption, the highest earning respondents (income above $100,000) were almost 4 times as likely to be EZfare users. Also, the odds of EZfare use were at least 2.5 times higher for respondents who had no household vehicle or no driver's license. We found that among EZfare users who had used the platform for at least six months, travel frequency to work and recreational activity was 16 % and 32 % higher respectively, compared to newer EZfare users and nonusers. This study provides empirical evidence that the adoption of mobile fare payment technology may be influenced by demographic and socioeconomic characteristics. The potential impact of this technology on the frequency of transit use suggests that adoption may be beneficial for transit providers and users.

Interest in sustainable real estate has grown since 2009 when the American Real Estate Society launched its open access Journal of Sustainable Real Estate. Using this as a catalyst, we abstracted and analyzed 265 articles published in the nine other journals in the ARES/IRES sustainable real estate space, documenting the evolution of sustainable property research for research topic, geography, methods, and property types. From an article count, the most numerous types of studies in this corpus are from North America, using regression analysis or another quantitative technique to evaluate residential property. Popular research topics of late were the sustainable/green category, building efficiency/operations, negative proximity influence and urban form. Dynamic research topics that are consistently of interest over the past ten years are climate change and flood, earthquake, hurricane risk. Green retrofitting of buildings and green development were popular over the past five years. Regression analysis using citations as the dependent variable revealed that variables positively associated with more citations are green certification, survey research, theory building, and JRER. On the negative side, Asian markets, case study, financial and economic analysis, other research methods, building operating efficiency, and other property types are less likely to be cited.

This paper examines strategic motivations, processes and expectations for institutional real estate owners around sustainable improvements and eco-labelling in office buildings. A series of 33 industry interviews with senior representatives of institutional real estate owners (e.g. REITs, Pension Funds, Opportunity Funds, and Investment Managers) were conducted to explore three key research questions. First, what motivates firms to invest in and move towards green technologies and certifications? Second, how do firms choose to implement, manage and maintain green investments and eco-labels? Third, what, if any, are the financial expectations of investing in green labelling and efficiencies? Results from the constant comparison analysis of the transcripts reveal that expected financial outcomes dominate environmental, broader sustainability and governance concerns when making decisions related to sustainability. The perceived value in eco-labelling was found to be widespread. Data collection and benchmarking related to energy and water usage were found to be the new norm for institutional managers and investors. In addition, a range of localized and firm-level policies was identified. A rigorous interview protocol was followed to reduce threats to reliability and validity.

Prior research provides strong evidence for the association between business strategy and the design and use of management control systems. We complement this research by examining the role of management control systems in situations of strategic change. We report the results of an in-depth longitudinal field study of Henkel, a German multinational company, from 2008 through 2013. During this period, the company declared a new strategy. To implement this strategy, senior management purposefully misaligned span of control and span of accountability — labeled the entrepreneurial gap — to stimulate individual initiative and higher levels of performance. Our description of how top managers enacted change suggests a strong relationship between management control systems, organizational structure, and cultural norms that together support desired outcomes. In addition, we provide evidence on the timing and sequencing of actions by top management. By the end of our study period, Henkel was a top performer in its various markets and was leading the German blue-chip index in stock returns.

This chapter demonstrates the language of the technology used in driverless vehicles, focusing on cars, and identifies current practice and status of forthcoming driverless vehicles (DV) projects, and considers strategic partnerships between market developers, countries, and consumers. In general terms, the vast majority of the individual technology components needed to attain these advanced levels of DV are and available today. The devices, which combine hardware and software, all contain some elements of artificial intelligence. Light detection and ranging (LIDAR) is light detection and ranging. LIDAR emits light rays and waits for them to bounce back. It has excellent depth perception in 3-D, but does not perceive color. Radio detection and ranging (RADAR) and LIDAR play the same role in the DV's set of tools, and some consider them redundant. Driverless trucks have a huge amount of economic potential, as a large percentage of US goods are moved by truck.

PurposeThe purpose of this paper is to investigate whether energy-efficient green buildings tend to provide net lease structures over gross lease ones. It then considers whether owners benefit by trading away operational savings in a net lease structure.Design/methodology/approachEmpirical models of office leasing transactions in Sydney, Australia, with wider transferability supported by analysis of office rent data in the USA.FindingsLabeled green buildings are approximately four to five times more likely than non-labeled buildings to use a net lease structure. However, despite receiving operational savings, tenants in net leases pay higher total occupancy costs (TOC), benefiting owners. On average, the increase in TOC paid by tenants in a net lease is equal to or greater than savings attributed to an eco-labeled building.Practical implicationsA full accounting of TOC in eco-labeled buildings suggests that net lease structures provide numerous benefits to owners that offset the loss of trading away operational savings.Originality/valueThe principal-agent market inefficiency, or “split incentive,” is a widely cited barrier to private investment in energy-efficient building technology. Here, a uniquely broad look at rental cash flows suggests its role as a barrier is exaggerated.

Executive Summary. This paper reports on the development and potential implementation of a new green office building rating index intended for building owners and real estate office portfolio managers. It provides a market-driven green scoring method applicable to most U.S. office buildings. The underlying index data draws from office tenant surveys and hedonic analysis of rent rolls. This paper details the development and first steps towards implementation of the scoring system. A variety of models are analyzed, discussed, optimized, and tested on a captive sample of 197 U.S. office buildings. A reasonable model shows that about 40% of the non-LEED-certified buildings score higher than the lowest scoring LEED-certified building. This indicates a market may be present for this type of measurement tool. Office and portfolio managers could use this index to market the sustainability features in their buildings and obtain a market premium for these features.

Large bodies of literature investigate the energy and resource impact of green buildings on consumers, environment, rent and society. However, little research exists that examines the habits and decision-making preferences of owners who operate and invest in these buildings. Industry interviews with senior-level representatives of U.S.-based institutional real estate owners (e.g. REITs, Pension Funds, Opportunity Funds, and Investment Managers) were conducted to assess energy reporting, data tracking, labeling preferences and upgrade decision making. The interviews revealed that EnergyStar and GRESB are primary reporting outlets, with LEED also relevant. Energy tracking mechanisms were quite disparate, ranging from custom built systems, EnergyStar Manager, third party providers or limited tracking. Upgrades were primarily driven by cost-benefit analysis and not sustainability-related motivations. This research shows that energy efficiency and tracking mechanisms have become the norm for institutional owners and investors.

The real estate academy has always prioritized with the quality of research and research contribution. We conducted an online survey of journal editors and associate editors in real estate, housing, planning, and related fields in summer 2015. The responding editors from 23 journals represent 74% of the population. Among the dozen potential contributions, developing new theories that can be applied to existing, new or even old problems top the list, followed by identification of a new phenomenon and innovative application of methods. Lowest priority is given to potential for citations, case studies, and straight replication, which have the weakest impact. In practice, actual published articles generally followed the priorities set forth by editors. However, the most impactful articles published recently did not meet this lofty standard, instead representing application of a new method to an existing problem. The survey revealed interesting facts about journal editors, best practice, impact factors, use of reviewer software, and advice for emerging scholars.

We use lease-level analysis to report on the effect of the presence of 15 green sustainable building features on office rents in an effort to unpack the independent impact of the bundle of attributes contained in green labels such as LEED. The results show that LEED conveys to the market the presence of attributes like superior air, efficient systems, and recycling. However, the research also demonstrates significant independent rental premiums for features such as access to natural light, efficient HVAC, water conservation, public transit, an electric car charging station, and access to services even with the presence of green labels. ENERGY STAR is found to have a premium independent of the green building attributes, but not in concert with them. We show a current market hierarchy of preferred green or sustainable building attributes. The results provide guidance for academic research, building developers, and decision makers contemplating green feature upgrades.

This paper reports on the development and potential implementation of a new green office building rating index. It is intended to provide a market-driven green scoring for US office buildings that includes buildings below the level of LEED. The index data are drawn from demand-side data from tenant surveys for individual green office buildings features and from supply-side data from hedonic analysis of rent rolls. The index also includes qualitative input from institutional industry leaders on how it could be useful to them in practice in market their somewhat green office space to potential tenants. This paper details the development and first steps towards implementation of the scoring system. A variety of proposed models, including some that separate out LEED and non-LEED buildings, are analyzed, discussed, and optimized, and tested on a captive sample of 198 US office buildings. A reasonable model shows that about one-third of the non-LEED buildings score higher on this scoring system than lower-scoring LEED buildings. This indicates a market may be present for this type of index.

Grasping the iconic “golden horseshoe” door handle, CEO Linda Watkins strode into Raleigh & Rosse's Palm Springs, California store and surveyed the sales floor. Ambient lighting was subdued while hidden halogen ceiling lamps artfully spotlighted merchandise and signage. Display cases made from polished exotic woods projected visual warmth and sophistication. A harpist played Mozart crisply in the background. It was just over a week into January 2010, and the store, swept clean of holiday decorations, had bright spring colors on display. Watkins noticed many sales associates engaged with customers, but foot traffic was below expectations for a Saturday afternoon. Her cellphone rang…