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首页> 外文期刊>Journal of Property Investment & Finance >A post-global financial crisis (GFC) framework for strategic planning, assessment and management decision making for US sustainable commercial real estate
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A post-global financial crisis (GFC) framework for strategic planning, assessment and management decision making for US sustainable commercial real estate

机译:全球后金融危机(GFC)框架,用于美国可持续商业房地产的战略规划,评估和管理决策

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Purpose: The purpose of this paper is to understand both the facts and the values associated with the breadth of issues, and the principles related to sustainable real estate for institutional investors. Sustainable real estate is a growing sector within the commercial real estate industry, and yet, the decision-making practices of institutional investors related to sustainability are still not well understood. In an effort to fill that gap, this research investigates the post-global financial crisis (GFC) motivations driving the implementation of sustainability initiatives, the implementation strategies used, and the predominant eco-indicators and measures used by institutional investors. Design/methodology/approach: This paper presents the results of a three-round modified Delphi study conducted in the USA in 2011-2012 investigating the nature of performance measurements and reporting requirements in sustainable commercial real estate and their impact on the real estate decision-making process used by institutional investors. Two rounds of in-depth interviews were conducted with 14 expert panelists. An e-questionnaire was used in the third round to verify qualitative findings. Findings: The key industry drivers and performance indicators influencing institutional investor decision making were associated with risk management of assets and whether initiatives can improve competitive market advantage. Industry leaders advocate for simple key performance indicators, which is in contrast to the literature which argues for the need to adopt common criteria and metrics. Key barriers to the adoption of sustainability initiatives are discussed and a decision framework is presented. Practical implications: This research aims to help industry partners understand the drivers motivating institutional investors to uptake sustainability initiatives with the aim of improving decision making, assessment, and management of sustainable commercial office buildings. Originality/value: Building on the four generations of the sustainability framework presented by Simons et al. (2001), this research argues that the US real estate market has yet again adjusted its relationship with sustainability and revises their framework to include a new, post-GFC generation for decision making, assessment, and management of sustainable real estate.
机译:目的:本文的目的是了解与问题广度相关的事实和价值,以及与机构投资者可持续房地产相关的原则。可持续房地产是商业房地产行业中一个正在增长的部门,然而,与可持续性相关的机构投资者的决策实践仍未得到很好的理解。为了填补这一空白,本研究调查了全球金融危机后(GFC)的动机,这些动机推动了可持续性倡议的实施,所采用的实施策略以及机构投资者所采用的主要生态指标和措施。设计/方法/方法:本文介绍了2011年至2012年在美国进行的三轮经过改进的德尔菲研究的结果,该研究调查了可持续商业房地产的绩效评估和报告要求的性质及其对房地产决策的影响,机构投资者使用的制作程序。与14位专家小组成员进行了两轮深入访谈。在第三轮中使用了电子问卷来验证定性结果。调查结果:影响机构投资者决策的关键行业驱动因素和绩效指标与资产的风险管理以及举措是否可以提高竞争性市场优势有关。行业领导者主张使用简单的关键绩效指标,这与文献中认为需要采用通用标准和度量标准的文献形成对比。讨论了采用可持续性举措的主要障碍,并提出了决策框架。实际意义:本研究旨在帮助行业合作伙伴了解驱动机构投资者采取可持续性举措的驱动力,以改善可持续商业办公楼的决策,评估和管理。原创性/价值:基于Simons等人提出的四代可持续发展框架。 (2001年),这项研究认为,美国房地产市场再次调整了其与可持续性的关系,并对其框架进行了修改,以包括新的,后GFC时代的一代人,用于决策,评估和管理可持续房地产。

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