Assessing the Economic Impact of Sports Facilities on Residential Property Values: A Spatial Hedonic Approach

This paper estimates the intangible benefits of a two sports facilities in Columbus, Ohio on residential property values. We estimate a spatial hedonic model that avoids biased and inconsistent estimates in the presence of uncorrected spatial autocorrelation. The results suggest that the presence of sports facilities in Columbus have a significant positive distance-decaying effect on surrounding house values, supporting the idea that professional sports facilities generate important intangible benefits in the local economy. OLS overestimates the hedonic model parameters compared with Maximum Likelihood and Spatial Two Stage-Least-Squares.Economic Impact, Residential Property Values, Sports Facilities, Hedonic Model, Spatial Dependence, Spatial Hedonic Model

Resource consents - intangible fixed assets? Yes, but, too difficult by far!

Recent international attempts to draft an accounting standard (IAS38) which establishes the most widely acceptable treatment for intangible assets have sparked debate among standard setters, practising accountants and media analysts. Contentious issues include differing treatment for internally and externally generated intangible fixed assets, and the requirement for the existence of a ready market for the exchange of intangible assets. A further question has been identified, that of whether the ‘right to do something’, as in permission to act, is in itself an intangible asset and if so how should it be treated. An example of this is resource consents issued under the Resource Management Act 1991. The aim of this research was to investigate the nature of resource consents as intangible assets according to ICANZ disclosure and recognition standards and to determine the level of disclosure practised by companies listed on the New Zealand Stock Exchange. Disclosure of resource consent details as non-financial information would provide a significant proportion of the benefits involved in disclosing this class of asset while limiting the costs involved in the production of the information. We conclude that the details of resource consents held should be disclosed in the annual report as additional non-financial information, or as a separate schedule of resource consents held in the notes to the financial statements as per FRS1. This view is not addressed by the requirements of IAS38 or ED87 as this 'class of intangible assets' is not discussed at all. However, it can be argued that the omission of resource consents and other similar intangibles is contrary to the spirit of the true and fair view requirement of the Financial Reporting Act and Generally Accepted Accounting Principles (GAAP)

Valuasi Ekonomi Air di Hutan Larangan Adat Kenegerian Rumbio Desa Pulau Sarak Kecamatan Kampar Kabupaten Kampar

Forests have a variety of benefits that can be felt by every living creature. The benefits consist of real measurable benefits (tangible) and intangible benefits (intangible).One of theimportant environmentalbenefitsofforestsarehydrologicalbenefits. One example ofthe use ofwater sourcedfromthe forestisin the forest ofProhibitionForestKenegerianRumbio. Ithas springswithgood quality. The communitiesuse itforvarious purposessuch asforhouseholdconsumption, fisheries, anddirect trading. Wateras aresourcethat isstillvalued as intangible, it is stilldifficult to assessthemarketsystem. This studyaims to determine theeconomic valuationof water at TraditionalProhibitionForest Kenegerian Rumbio Pulau Sarak Village of Kampar District Kampar Regency. This research was conductedbyusing themethod ofmarketprice approachorproductivityof thecommoditywhich is related each other. The market priceisusedto determine thenet priceorrentunitsofwideuse ofnatural resources. The results showedthe economicvaluationof waterat TraditionalProhibitionForest Kenegerian RumbioisRp.5.865.814.050peryear, with atotaleconomic valueofRp.53.298.227.751for 25years

Realising benefits in primary healthcare infrastructures

Purpose: This paper focuses upon the requirements to manage change, tangible and intangible benefits in a joint approach to deliver outputs on time, to quality and cost without failing to realise the benefits of the change. The aim of the paper is to demonstrate the need for benefits driven programme/project management as well as the importance of identifying the stakeholders’ level of involvement and contribution throughout the process, and manage their expectations. Design/methodology/approach: The methodology used is based on an action research approach, combining findings from a literature review and case studies within UK’s primary healthcare sector. Findings: Findings demonstrate development of a Benefits Realisation (BeReal) approach in healthcare through looking at case studies taking place within UK’s primary and acute healthcare sector Research limitations/implications: The framework development is based upon theoretical evidence and further research is needed to test and validate its robustness. Originality/value: The application of Benefits Realisation and Management in developing and delivering primary healthcare facilities. Keywords: Benefits management, Benefits realisation, healthcare infrastructures, process and LIF

Courts-Martial Jurisdiction and Civilian Dependents: Constitutional Restrictions

Services are intangible in their nature. When product oriented companies seeks to expand their industrial offerings with services they encounter many problems, one of which is the challenge of selling these intangible services. The sales team needs to be able to show the value of the service in order to successfully reach out to the customers. Embracing “service logic” has proven successful for this type of company. Its perspective on value creation is very different from the perspective traditionally employed by product companies i.e. through “product logic”. One must turn to customer day-to-day activities and look at their value creating processes in order to understand what value can be created from a service. This is because customers will not be interested in complex, intangible aspects of an offering. They want to know how a supplier can improve their business. The purpose of this study is to develop a framework for value communication through value assessment (and segmentation) of a product related service in a B2B business relation. A qualitative single case study was employed involving the multinational Swedish garden and forestry company Husqvarna (i.e. the supplier) and their soon-to-be-released IT-based fleet management service called Husqvarna Fleet Services (i.e. the service). Seven customer interviews were held in France, one in Sweden. The value hierarchy is used as an approach to value creation and the laddering technique is consequently employed in order to assess the potential customer value deriving from use of the service. On an attribute level, the elements are approximated to the categories of information represented in the user interface. Primary ladders are comprised of 4 end‐states and 22 consequences that should be seen as potential benefits from use of the service. Screening them for low frequencies, 11 consequences and 2 end‐states (‘Productivity & Efficiency’ and ‘Cost Reduction/Control’) remain. Preliminary cost savings are given (as examples) in four cases although these lack significant information to be considered as important findings. Attempting value based segmentation, a basic non‐statistical segmentation gives rise to seven variables by which the identified benefits are thought to vary. Employing the idea of communicating through a resonating focus, the findings suggest that depending on customer characteristics the 11 identified benefits, each of which will have varying degrees of importance. Due to the fact that no realized value is found, these benefits are still regarded intangible. Finally, the complexity, novelty and intangibility of the offering point toward an increasing need for a communication strategy that serve the purpose of providing solutions to customers’ major issues. The results from our study suggest that the supplier rigorously attempts more pilot studies on a few selected targets in order to realize substantial value and develop business cases

Transition to FDI openness

Empirical studies quantifying the benefits of increased foreign direct investment (FDI) have been unable to provide conclusive evidence of a positive impact on host country’s economic performance. I show that the lack of robust evidence is not inconsistent with theory, even if the eventual gains to FDI are large, if restrictions on FDI are lifted only gradually and part of FDI is intangible investment. Anticipation of future increases in FDI can result in large shifts in patterns of domestic investment and employment. Furthermore, since intangible investments are expensed, both gross domestic product (GDP) and gross national product (GNP) are low during periods of abnormally high FDI investment.Gross domestic product ; Gross national product

THE REVOLUTIONARY AND EVOLUTIONARY UNIVERSAL PRODUCT CODE: THE INTANGIBLE BENEFITS

Agribusiness,

Estimating the Value of Medal Success at the 2010 Winter Olympic Games

We estimate Canadians’ willingness to pay (WTP) for success by Team Canada in the 2010 Winter Olympics. The Canadian government subsidized elite athletes in the run up to the 2010 Games through the Own the Podium program, which was designed to increase Canada’s medal count. WTP estimates from a contingent valuation method (CVM) study using data from nationally representative surveys before and after the Games suggest that Own the Podium generated intangible benefits of between 3 and 5 times its cost. The aggregate value of the intangible benefits generated by the program was between $719 million and$3.4 billion. Key Words: Olympic Games, contingent valuation method, willingness to pay

Antecedents of acceptance of social networking sites in retail franchise and restaurant businesses

The paper examines the antecedents of acceptance of social networking sites in retail franchise and restaurant businesses. The success of retail franchise and restaurant business oper-ators via social networking sites depends not only on organiza-tional benefits but also on their behavioral intentions of using it. Three hundred and twenty four samples collected from South Korean retail franchise and restaurant employees are analyzed using factor analysis, structural equation model techniques and one-way analysis of variance. The results of the study identify the three constructs of organizational benefits, perceived tangible assets and perceived intangible assets as for important ante-cedents to accept social networking sites for their business use. Moreover, higher position employees tend to have more favor-able perception of tangible assets and acceptance of social net-working sites for their business use

A revised perspective on the evaluation of IT/IS investments using an evolutionary approach

On-going research into the evaluation of Information Technology (IT) / Information Systems (IS) projects has shown that aerospace and supply chain industries are needing to address the issue of effective project investment in order to gain technological and competitive advantage. The evaluative nature of the justification process requires a mapping of interrelated quantities to be optimised. Earlier work by the authors (Irani and Sharif 1997) has presented a theoretical functional model that describes these relationships in turn. By applying a fuzzy mapping to these variables, the optimisation of intangible relationships in the form of a Genetic Algorithm (GA) is proposed as a method for investment justification. This paper revises and reviews these key concepts and provides a recapitulation of this optimisation problem in terms of long-term strategy options and cost implications. Glossary of terms : DC = Direct Costs, FA = Financial Appraisal, FR = Financial Risks, FUR = Functional Risks, HC = Human Costs, IC = Indirect Costs, IR = Infrastructural Risks, OB = Operational Benefits, OC = Organisational Costs, PB = Project Benefits, PC = Project Costs, RF = Risk Factor, SB = Strategic Benefits, SM = Strategic medium-term benefit, SR = Systemic Risks, TB = Tangible Benefits, TC = Tangible Costs, TL = project lead time, TR = Technological Risks, V= Project Value