"The Energy Efficiency of Corporate Real Estate Assets: The Role of Energy Management for Corporate Environmental Performance "

2016 ◽  
Author(s):  
Sven Bienert ◽  
Markus Surmann ◽  
Wolfgang Brunauer
Keyword(s):  
Energy Efficiency ◽  
Real Estate ◽  
Energy Management ◽  
Environmental Performance ◽  
Corporate Environmental Performance ◽  
Corporate Real Estate ◽  
Real Estate Assets

The energy efficiency of corporate real estate assets

2016 ◽  
Vol 18 (2) ◽  
pp. 68-101 ◽  
Author(s):  
Markus Surmann ◽  
Wolfgang Andreas Brunauer ◽  
Sven Bienert
Keyword(s):  
Energy Efficiency ◽  
Energy Consumption ◽  
Real Estate ◽  
Energy Management ◽  
Environmental Performance ◽  
Corporate Environmental Performance ◽  
Total Energy Consumption ◽  
Content Type ◽  
Building Characteristics ◽  
Real Estate Assets

Purpose On the basis of corporate wholesale and hypermarket stores, this study aims to investigate the relationship between energy consumption, physical building characteristics and operational sales performance and the impact of energy management on the corporate environmental performance. Design/methodology/approach A very unique dataset of METRO GROUP over 19 European countries is analyzed in a sophisticated econometric approach for the timeframe from January 2011 until December 2014. Multiple regression models are applied for the panel, to explain the electricity consumption of the corporate assets on a monthly basis and the total energy consumption on an annual basis. Using Generalized Additive Models, to model nonlinear covariate effects, the authors decompose the response variables into the implicit contribution of building characteristics, operational sales performance and energy management attributes, under control of the outdoor weather conditions and spatial–temporal effects. Findings METRO GROUP’s wholesale and hypermarket stores prove significant reductions in electricity and total energy consumption over the analyzed timeframe. Due to the implemented energy consumption and carbon emission reduction targets, the influence of the energy management measures, such as the identification of stores associated with the lowest energy performance, was found to contribute toward a more efficient corporate environmental performance. Originality/value In the context of corporate responsibility/sustainability of wholesale, hypermarket and retail corporations, the energy efficiency and reduction of carbon emissions from corporates’ real estate assets is of emerging interest. Besides the insights about the energy efficiency of corporate real estate assets, the role of the energy management, contributing to a more efficient corporate environmental performance, is not yet investigated for a large European wholesale and hypermarket portfolio.

scholarly journals Sustainability-oriented cross-functional collaboration to manage trade-offs and interdependencies

2018 ◽  
Vol 54 (1) ◽  
pp. 3-17 ◽  
Author(s):  
Andrea Szalavetz
Keyword(s):  
Performance Improvement ◽  
Environmental Sustainability ◽  
Environmental Performance ◽  
Behavioral Outcomes ◽  
Real Life ◽  
Corporate Environmental Performance ◽  
Lack Of Information ◽  
Trade Offs ◽  
Corporate Environmental Sustainability

Abstract Despite a consensus view in the literature about the importance of cross-functional collaboration (CFC) for corporate environmental performance improvement, there is a dearth of studies that explain how exactly sustainability-oriented CFC can foster this objective. The purpose of this paper is to explain the role of CFC in corporate environmental performance improvement. We do this by undertaking two rounds of literature review, developing a proposition after the first round and by collecting illuminative real-life examples that illustrate our arguments in the second round. We propose and illustrate that CFC can effectively address two systemic properties of corporate environmental performance: trade-offs and interdependencies among different aspects of corporate environmental sustainability. If left unaddressed, these systemic specifics would result in organizational, managerial, and behavioral outcomes, such as inertia, opposition to change, lack of information, and so on, which would turn into effective barriers to corporate environmental performance improvement. put CFC addresses these barriers through information sharing, knowledge building, and interest reconciliation.

Stock Market Reaction to Corporate Real Estate Divestitures and Acquisitions during the Global Financial Crisis

2015 ◽  
Vol 73 (5) ◽  
Author(s):  
Annie Wong Ping Eng ◽  
Janice YM Lee ◽  
Muhammad Najib Mohamed Razali ◽  
Mat Naim Abdullah @ Mohd Asmoni ◽  
Izran Sarrazin Mohammad
Keyword(s):  
Financial Crisis ◽  
Real Estate ◽  
Stock Market ◽  
Global Financial Crisis ◽  
Market Returns ◽  
Stock Market Returns ◽  
Stock Market Reaction ◽  
Corporate Real Estate ◽  
The Global Financial Crisis ◽  
Real Estate Assets

Real estate divestitures and acquisitions (D&A) are conducted as part of corporate restructuring. This study aims to fill the knowledge gap on abnormal stock market returns (AR) toward D&A activities during the Global Financial Crisis (GFC) in a developing country. Malaysian listed non-real estate companies that conducted D&A during the GFC are used as sample. Event study is applied to determine AR surrounding D&A announcements within (-10day, +10day) event window. Results for both D&A announcements shows insignificant AR on and around announcement date (-1 to +1). For pre-announcement, divesting (acquiring) companies obtain negative (positive) AR, signifying that the market does not favor (favor) divestitures (acquisitions) due to leakage of information. The outcome of post-announcement proves that divesting companies continue to experience negative ARs, although most divesting companies were paid premium prices. However, acquiring companies experience significant and negative post-announcement AR. This is probably due to the price premium which most acquiring companies paid exceeding valuation for their acquisitions. In summary, the market disapproves divestitures in general and acquisitions of real estate assets exceeding their valuations during economic recessions.  

scholarly journals A PROACTIVE PROPERTY MANAGEMENT MODEL THAT INTEGRATES REAL ESTATE PROVISION AND FACILITIES SERVICES MANAGEMENT

2005 ◽  
Vol 9 (1) ◽  
pp. 33-42 ◽  
Author(s):  
Danny Shiem-Shin Then
Keyword(s):  
Real Estate ◽  
Management Model ◽  
Property Management ◽  
Workplace Environment ◽  
Business Plans ◽  
Corporate Workplace ◽  
Estate Property ◽  
The Creation ◽  
Real Estate Assets

The creation of suitable workplace environment to support employees in performing their tasks is becoming a key issue for many organisations faced with constant change. Numerous workplace strategies have evolved in recent years to provide for convenience and flexibility, as well as functionality and privacy. Problems usually arise at the implementation stage where organisation culture and practices often run counter to the need for innovation strategies. This paper contents that the creation of enabling workplace requires a proactive property management model that integrate real estate provision and facilities services management. The value contribution of real estate assets can only be optimised when the property/facilities professional takes on the responsibility of continuously providing appropriate facility solutions to business challenges. An essential prerequisite is the role of property/facilities management as the custodian and enabler of the corporate workplace environment. The focus of the research was to provide a business perspective to the role of real estate assets(property) in supporting the fulfilment of corporate business plans. Based a comprehensive survey of published literature and a series of in‐depth interviews of corporate real estate/property/facilities managers, an integrating resources management framework was developed to model the nature of interactions between strategic business planning and facility operations in an organisational setting.

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