What will the next buyer pay? the key to investing in property

Most investors look at the initial return (or yield) that they will receive from an investment property, but this is only part of the picture. The more important issue is what capital appreciation will be achieved. Unless an investment property will deliver substantial capital appreciation, it is unlikely to be a good investment in financial terms.

It’s about time : investing in transportation to keep Texas economically competitive

This current report, It’s About Time: Investing in Transportation to Keep Texas Economically Competitive, updates the February 2009 report by providing an enhanced analysis of the current state of the Texas transportation system, determining the household costs of under-investing in the system and identifying potential revenue options for funding the system. However, the general conclusion has not changed. There are tremendous needs and high costs associated with “doing nothing new.”

Investing in the future : analysis of TxDOT 1547 Over-Axle Weight Tolerance Permits

The trucking industry has played a significant role in the economic growth in Texas by transporting and distributing commodities using commercial motor vehicles. The Texas Department of Transportation (TxDOT), however, has recognized that the large number of overweight trucks operating on the state highway system has resulted in the deterioration of pavement condition. In addition, the permit fee to carry higher loads above legal limits is much lower than the cost to treat the increase in pavement damage. The primary purpose of the research presented in this paper is to investigate current TxDOT overweight permit structures to support pavement management. The research team analyzed the TxDOT “1547” Over-axle Weight Tolerance Permit structure to support an increase in the fee structure, bringing it more in line with the actual pavement damage. The analysis showed that the revised overweight permit structure could provide an additional $9.3 million annually for pavement maintenance needs by increasing current permit fees. These results were supported by the 2030 Committee for recommendation to the Texas Transportation Commission and consideration by the State Legislature [1]. The research team recommends conducting further research to identify methods for working cooperatively with the trucking industry to develop improved methods for assessing weight damage relationships and developing more effective and accurate means for assessing overweight permit fees.

It’s about time : investing in transportation to keep Texas economically competitive : Appendices

APPENDIX A : PAVEMENT QUALITY (Zhanmin Zhang, Michael R. Murphy, Robert Harrison), 7 pages -- APPENDIX B : BRIDGE QUALITY (Jose Weissmann, Angela J. Weissmann), 6 pages -- APPENDIX C : URBAN TRAFFIC CONGESTION (Tim Lomax, David Schrank), 32 pages -- APPENDIX D: RURAL CORRIDORS (Tim Lomax, David Schrank), 6 pages -- APPENDIX E: ADDITIONAL REVENUE SOURCE OPTIONS FOR PAVEMENT AND BRIDGE MAINTENANCE (Mike Murphy, Seokho Chi, Randy Machemehl, Khali Persad, Robert Harrison, Zhanmin Zhang), 81 pages -- APPENDIX F: FUNDING TRANSPORTATION IMPROVEMENTS (David Ellis, Brianne Glover, Nick Norboge, Wally Crittenden), 19 pages -- APPENDIX G: ESTIMATING VEHICLE OPERATING COSTS AND PAVEMENT DETERIORATION (by Robert Harrison), 4 pages

Investing for impact : Constructing a better built environment

This publication, Investing for Impact, is a key outcome of Project 2.7 Leveraging R&D Investment for the Australian Built Environment. This information will be included in a more comprehensive book being prepared for publication in 2014 (Taylor and Francis). It draws together research findings and case studies from CIB Task Group 85 members from across the globe, highlighting their diversity and similarities. The evaluation of international case studies on the role and impact of R&D on national development has allowed us to demonstrate examples from different sectors of the built environment of R&D investment models that provide return on investment and other benefits for companies, governments and the general community.

Investing and reinvesting in social capital : the spill-over effects of social capital in self help groups

Part studies on the impact of microfinance through self help groups (HGs) and other collective poverty alleviation initiatives have predominantly focused on the financial benefits to the individual or the group (Hermes and Lensink 2011; Hulme and Mosley 1996). Such benefits are typically attributed to the financial capital made available to SHGs (Swain and Varghese 2009) and the social capital which accrues through networking mechanisms within SHG processes (Tesoriero 2005). Few studies however, have examined the benefits of SHGs beyond group members. Accordingly, research was conducted to look beyond the immediate group processes and outcomes, and examine the impact of SHGs in the wider (local) community.

Methodological developments in phenomenography : investing using information to learn in the discipline classroom

This paper discusses methodological developments in phenomenography that make it apropos for the study of teaching and learning to use information in educational environments. Phenomenography is typically used to analyze interview data to determine different ways of experiencing a phenomenon. There is an established tradition of phenomenographic research in the study of information literacy (ex: Bruce, 1997; 2008; Lupton, 2008; Webber, Boon, & Johnston, 2005). Drawing from the large body of evidence complied in two decades of research, phenomenographers developed variation theory, which explains what a learner can feasibly learn from a classroom lesson based on how the phenomenon being studied is presented (Marton, Runesson, & Tsui, 2004). Variation theory’s ability to establish the critical conditions necessary for learning to occur has resulted in the use of phenomenographic methods to study classroom interactions by collecting and analyzing naturalistic data through observation, as well as interviews concerning teachers’ intentions and students’ different experiences of classroom lessons. Describing the methodological developments of phenomenography in relation to understanding the classroom experience, this paper discusses the potential benefits and challenges of utilizing such methods to research the experiences of teaching and learning to use information in discipline-focused classrooms. The application of phenomenographic methodology for this purpose is exemplified with an ongoing study that explores how students learned to use information in an undergraduate language and gender course (Maybee, Bruce, Lupton, & Rebmann, in press). This paper suggests that by providing a nuanced understanding of what is intended for students to learn about using information, and relating that to what transpires in the classroom and how students experience these lessons, phenomenography and variation theory offer a viable framework for further understanding and improving how students are taught, and learn to use information.

Essays on momentum investing strategies

The momentum investment strategy, which buys recent winner stocks and sells recent loser stocks, earns returns that are simply too good to be explained by traditional finance theories. This thesis extends our understanding of the sources of momentum profits. The research shows that part of the seemingly anomalous returns can be explained by the market's reaction to public news, is affected by how delisting returns are calculated, and is biased by ignoring the time-varying risk of the trading strategy.

Member perceptions of ESG investing through superannuation

Purpose Environmental, social and governance (ESG) risks have the potential to negatively impact financial returns, yet few superannuation funds integrate these considerations into their investment selection. The Cooper Review (2010) identified a lack of member demand as a key impediment to ESG investing by superannuation funds. Given this problem, the aim of this study is to explore superannuation fund members’ perceptions of ESG investing by their funds in order to identify reasons for the lack of demand. Design/methodology/approach An on-line survey was developed and distributed to assess possible reasons why members do not select ESG investment options. In total, 549 Australian superannuation fund members responded to the survey. Findings Results indicate that the majority of superannuation fund members are interested in ESG investing. Members lack awareness of their fund’s approach to ESG investing, and they do not perceive there to be a financial penalty from ESG investing. Finally, members show a preference for consideration of governance issues over both social and environmental issues. Research limitations Respondents are well educated and the majority did not choose their superannuation fund. There was no measure of financial literacy included in the research instrument. There is also a general limitation in surveying superannuation fund members when they lack knowledge about superannuation. Practical implications The results indicate that superannuation members are interested in both superannuation and ESG investing. Given the low take-up of ESG investment options, this finding raises the question of how effectively funds are engaging their members. Social implications The results should be of interest to superannuation funds and may lead to renewed interest in promoting ESG products. Originality/value This is the first study to examine superannuation members’ attitudes and behaviours towards ESG investing in the context of superannuation. The study also adds to our understanding of member decision making in the $1.8 trillion superannuation industry.

Investing in the future: Norway, climate change, and fossil fuel divestment

The fossil fuel divestment movement has undergone explosive growth over the last few years - expanding from encouraging educational institutions to adopt ethical investment policies to focusing upon cities, pension funds and philanthropic charities. The fossil fuel divestment movement has attained global ambitions - challenging sovereign wealth funds and national governments to engage in fossil fuel divestment, and pushing for fossil fuel divestment at international climate talks - such as the Paris Climate Summit in 2015. By exploring and analysing a key campaign to 'Divest Norway', this chapter considers the efforts to globalise and internationalise the fossil fuel divestment campaign. Part 1 explores the origins of the fossil fuel divestment movement, and the application of such strategies in a variety of contexts. Part 2 looks at the campaign to divest Norway's sovereign wealth fund of fossil fuel investments. There has been much discussion as to whether the bold decision of Norway to engage in coal divestment will encourage and inspire other sovereign wealth funds to engage in fossil fuel divestment. The conclusion considers the efforts to introduce fossil fuel divestment as a policy initiative for nation states as a policy option in international climate law.

The function of property in creating an effective legal regime for trade in environmental offsets

Market-based environmental regulation is becoming increasingly common within international and national frameworks. Environmental offset and trading regimes are part of the market-based instrument revolution. This paper proposes that environmental market mechanisms could be used to introduce an ethic of land holder responsibility. In order for market based regimes to attract sufficient levels of stakeholder engagement, participants within such scheme require an incentive to participate and furthermore need to feel a sense of security about investing in such processes. A sense of security is often associated with property based interests. This paper explores the property related issues connected with environmental offset and trading scheme initiatives. Relevant property-related considerations include land tenure considerations, public versus private management of land choices, characteristics and powers associated with property interests, theories defining property and the recognition of legal proprietal interests. The Biodiversity Banking Scheme in New South Wales is then examined as a case study followed by a critique on the role of environmental markets.

The necessary alignment between technology innovation effectiveness and operational effectiveness

Organisations are increasingly investing in complex technological innovations such as enterprise information systems with the aim of improving the operations of the business, and in this way gaining competitive advantage. However, the implementation of technological innovations tends to have an excessive focus on either technology innovation effectiveness (also known as system effectiveness), or the resulting operational effectiveness; focusing on either one of them is detrimental to the long-term enterprise benefits through failure to achieve the real value of technological innovations. The lack of research on the dimensions and performance objectives that organisations must be focusing on is the main reason for this misalignment. This research uses a combination of qualitative and quantitative, three-stage methodological approach. Initial findings suggest that factors such as quality of information from technology innovation effectiveness, and quality and speed from operational effectiveness are important and significantly well correlated factors that promote the alignment between technology innovation effectiveness and operational effectiveness.

Accounting : building business skills, 3rd ed.

The new edition of this widely used and respected introductory accounting textbook continues to provide students and academics with a well written and accessible resource, with ample illustrations and applications to business for a first study of accounting. The text effectively maintains the balance between a 'user' and 'preparer' perspective by integrating real financial information and business decisions throughout. Through the use of real company information and financial statements students will quickly appreciate the use and users of accounting information. The textbook clearly outlines to students how a financial statement - such as a balance sheet, income statement, cash flow statement - communicates the financing, operating, and investing activities of a business. The text builds a strong conceptual understanding and develops skills in the application of accounting principles and techniques, providing students with a solid foundation for further studies in accounting. The integral role of financial statements for decision making is also emphasised in this text and is reinforced throughout by the Decision Toolkit in each chapter. Students are provided with an extensive set of tools necessary to make business decisions based on financial information.