Truth - the essential dimension of ethics in scholarship, teaching, learning and research

The introduction of metrics, league tables, performance targets, research assessment exercises and a range of other pressures placed by society, funding bodies and employers on scholars, teachers and students have resulted in diminished value being placed on the essential ethical criterion of truth. The impact of reduced valuation for truth has a huge impact on the standing of science and not least horticultural science in the eyes of the general public at a time when this should be a primary concern. This contribution discusses examples of the impact of diminished valuation of truth, the causes of this phenomenon, the results that come from this situation and remedies that are needed.

Timing and the holding periods of institutional real estate

Literature on investors' holding periods for securities suggests that high transaction costs are associated with longer holding periods. Return volatility, by contrast, is associated with shorter holding periods. In real estate, high transaction costs and illiquidity imply longer holding periods. Research on depreciation and obsolescence suggests that there might be an optimal holding period. Sales rates and holding periods for U.K. institutional real estate are analyzed, using a proportional hazards model, over an 18-year period. The results show longer holding periods than those claimed by investors, with marked differences by type of property and over time. The results shed light on investor behavior.