Financial flexibility describes the ability of a firm to access and restructure its financing by avoiding financial distress in the face of negative shocks, and by funding investment when profitable opportunities arise. General finance literature as well as real estate specific studies are not...

Since the evolutionary work of Modigliani and Miller (1958) financial researchers make desperate efforts about dynamics of capital structure - not mentioning a well-defined inference of leverage on returns. In the past decade this is also a concern for real estate research because most financial...

This paper presents a dynamic multi-equation model based on a balance sheet identity, where technical aspects of capital structure are highlighted through separately observing debt and equity and their relationship to investment. Additionally, leverage dynamics are interpreted in their role for...

As the building and real estate sector is responsible for about 40% of the economyís end energy consumption, its potential to contribute to a sustainable development is accordingly high. In terms of mitigation of climate change, the response of the property sector is expressed by the diffusion...

Studies about the housing market based on fundamentals like income, construction costs, interest rate generally lacked in explanation power during the latest massive price move-ments especially in the US. The main reason for this might be that expectations of individu-als for further price...

Buildings contribute around half of all greenhouse gas emissions and Australian offices alone account for 12% of all greenhouse gas emissions. As city authorities seek ways of reducing the contribution of cities to climate change and global warming, building adaptation appears to offer a means...

Population modelling has shown Australian buildings face a future where adaptation of the stock will become increasingly necessary to secure a sustainable future (CSIRO, 2002). Changes in population pose threats to sustainability in terms of the trend for increasing affluence and because there...

Cycle theory is one of the basic human observations of the natural world as well as in human societies. It is defined by the Dictionary of Theories as íevents, economics and political systems move through cycles similar to the natural life-cycles of living beingsî (Bothamley 2002, p.133)....

In recent times there have been a rapidly increasing number of sustainable buildings entering the global real estate market. Many of these buildings differ considerably with respect to their sustainable features from a design and/or performance basis, although a wide range of sustainable...

This paper focuses on the theory of economic transformation, applied to property market emergence and comparing different transitional economies. Past experience of the Chinese and East European markets has major differences. This paper reviews the Chinese economic transition with emphasis...