Timothy O . Ayodele (PhD) | University of the Witwatersrand (original) (raw)
Papers by Timothy O . Ayodele (PhD)
PURPOSE: This paper gives an overview of the body of knowledge (BOK) which often forms the founda... more PURPOSE: This paper gives an overview of the body of knowledge (BOK) which often forms the foundation of the curriculum development for real estate programs and discipline. It provides an overall background to understanding the expectations of the real estate profession on the knowledge, skills and attributes of real estate practitioners.DESIGN/METHODS: Desktop analysis of literature was employed to achieve these objectives.FINDINGS: The paper prescribes aggregation of knowledge, essential competencies and attributes that prospective real estate practitioners are expected to be certified in. This was done so that real estate education can align with industry requirements. The review showed that the BOK for real estate education focuses on three broad approaches/perspectives. These include the U.K. model, the U.S. model and a multi or inter-disciplinary approach to real estate education. The U.K. model allows real estate practitioners to have skills in legal and planning framework, as well as in building construction techniques but with little knowledge in the area of business and finance. They also appreciate their roles in the property development process. Contrarily, the U.S. model is anchored on applied finance and business. Their approach to knowledge of real estate is that of a business manager and has greater emphasis on finance and business management than building construction and surveying as found in the U.K. The multidisciplinary approach, which is a more diverse model, combines some of the components of the U.K. and U.S. models and advocated an interdisciplinary dimension to real estate education.PRACTICAL IMPLICATION: The paper concludes that BOK in real estate education and curriculum development are marked with differences from one country to another and varied depending on the needs and characteristics of every environment and nation.ORIGINALITY: This paper adds to the debate on the definition of the BOK for real estate education for which there is yet to be a clear cut direction either in academic or profession.
Smart and sustainable built environment, Feb 3, 2023
PurposeThe aim of this paper is to assess the behavioural factors that influence professionals... more PurposeThe aim of this paper is to assess the behavioural factors that influence professionals' intention to adopt green construction based on the theory of planned behaviour (TPB).Design/methodology/approachThe study adopted a quantitative research design with the use of online questionnaires to elicit information from construction professionals in South Africa. Descriptive statistics of frequencies, mean and standard deviation were used to analyse the data obtained from the survey. Linear regression was also used to assess the effect of behavioural factors on professionals' intention to adopt green construction.FindingsThe results showed that attitude and perceived behavioural control (PBC) have a significant effect on the intention to adopt green construction. These were significant at p < 0.05, having p-values of 0.000 and 0.015 respectively. The study also found that there was a positive disposition towards green construction, particularly with regards to insisting on green construction. This had a mean value of 3.99. There was also a high perception of succeeding in the execution of green projects with mean score of 3.76.Practical implicationsThe practical implication of the findings is that adoption of green construction in South Africa is majorly based on the positive attitude of stakeholders towards green construction and also the PBC or the perceived ease of executing green construction. However, these factors are not sufficient to generate long term commitment for green transformation among a critical mass of stakeholders in the South African construction industry. Hence, there is a need for focus on subjective norms (pressure) particularly from the government, to encourage the widespread adoption of green construction in South Africa.Originality/valueFindings present one of the pioneering efforts to empirically validate the influence of behavioural factors on the intention to adopt green construction in South Africa and the outcomes can provide policy directions and baseline data for further research.
Property Management, Dec 28, 2021
PurposeThis study investigates the impact of mentoring on real estate students' entrepreneuri... more PurposeThis study investigates the impact of mentoring on real estate students' entrepreneurial intentions with a focus on Nigeria, an emerging African economy. Specifically, the study assessed the influence of mentoring on the entrepreneurial intentions and career preferences of real estate students and analysed the influence of having a real estate mentor on the respondents' perception of the motivators and inhibitors to their entrepreneurial intentions.Design/methodology/approachThe study adopted a descriptive research approach using closed-ended questionnaires. The study population comprise final year real estate students selected from three federal universities offering Real Estate in southwest Nigeria. Total enumeration was adopted for the study. From a total population of 231 students, a response rate of 69.26%, representing 160 questionnaire were retrieved and found suitable for the analysis. Descriptive and inferential statistical techniques were employed for data analysis.FindingsThe result shows that the factor structure of the motivators for students who have real estate mentors clustered into four constructs; in order of influence are personal fulfilment/satisfaction, flexibility/financial motives, mentoring/economic influences and personal preferences/prestige and status. Meanwhile, economic/independence, personal preference/fulfilment, financial motives/self-perception and mentoring were the factor clusters influencing intention for real estate enterprise by students who have no real estate mentor. Predominant debacles across both categories of respondents relate to the lack of support and market uncertainty.Practical implicationsThere is a growing body of knowledge exploring the linkages between mentoring and the development of entrepreneurial intentions. However, scant empirical investigations have examined the impact of mentoring on real estate students, especially from the perspectives of emerging markets which are usually characterised by low economic opportunities and where issues of graduate unemployment appear endemic and yet to be appropriately resolved.Originality/valueThis study explores the implications of mentoring on the entrepreneurial intentions of real estate students' from the perspective of an emerging market.
Journal of Financial Management of Property and Construction, Feb 8, 2021
Purpose This paper aims to investigate the flexible decision pathways adopted by development advi... more Purpose This paper aims to investigate the flexible decision pathways adopted by development advisors in the management of uncertainty in property development. Specifically, the study examines the quantitative techniques adopted by development advisors, the level of adoption of real options analysis (ROA) vis-à-vis the level of adoption of heuristics. Finally, the types of options exercised in property development were analysed. This was with a view to providing information that could mitigate the challenges of risk and uncertainty and increasing investment failure associated with property development in Nigeria, an emerging market. Design/methodology/approach The study adopted a survey method and was conducted on development advisors in property development companies/estate surveying and valuation firms in Nigeria. A total of 195 development advisors participated in the survey. The respondents were required to rate, on a five-point Likert scale, the level of adoption of the quantitative models, heuristics and the types of flexibility exercised during development. The data were analysed using mean rating, one-sample t-test and analysis of variance. Findings The results revealed that there was a preference for the use of traditional techniques, while probabilistic appraisal models and other contemporary methods such as ROA are seldom adopted by development advisors. While there was a significantly high level of adoption of heuristics, the stratified analysis examining the profile of the respondents and the level of adoption of ROA and heuristics suggests that years of experience influenced the level of adoption of both the ROA and heuristics by the development advisors. The analysis of the types of flexibility showed that staging/phasing and changing the initial use/design were the most prevalent flexibility pathways adopted during the development. However, the study found that there was no significant difference concerning the choice of flexibility being adopted by development advisors who used ROA and those who did not. Practical implications The study provides an understanding of the decision pathways adopted by development advisors in an emerging market like Nigeria. Originality/value The paper contributes to studies on decision-making pathways in the management of uncertainty under dynamic conditions by development advisors in emerging markets.
International journal of building pathology and adaptation, Apr 14, 2023
The international journal of construction management, Oct 25, 2019
Pacific rim property research journal, Sep 1, 2020
ABSTRACT The study investigated the job satisfaction levels of real estate firms’ employees and t... more ABSTRACT The study investigated the job satisfaction levels of real estate firms’ employees and the relationship between employees’ personal and demographic characteristics and their job satisfaction levels. This is intending to provide information that could enhance better job performance and enhance human resource management in the real estate industry. Data employed for the study was sourced using a close-ended questionnaire administered on private real estate firms’ employees in the Lagos property market. Data were analyzed using both descriptive and inferential statistical techniques. The result showed that financial consideration/personal accomplishment was the most important factor influencing employees’ level of satisfaction, followed by work environment skill variety/organizational culture, feedback/fairness, work passion and supervision/workload/work-life balance. Also, the analysis showed that demographic factors with significant relationships with job satisfaction include age, marital status, academic qualification, management level, years spent under the current line manager, remuneration and number of firm branches. Thus, given the increasing investors’ attention towards investments in emerging property markets, and the need to satisfy clients’ increasing sophistication and dynamism, private real estate firms are encouraged to prioritize issues relating to remunerations and workers welfare thereby ensuring an increased level of employees’ satisfaction, enhanced job performance and increased firms’ productivity.
Journal of Facilities Management, Jul 24, 2020
Property Management, Feb 18, 2019
Purpose The purpose of this paper is to examine the career preferences of real estate students an... more Purpose The purpose of this paper is to examine the career preferences of real estate students and the predisposing factors influencing the choice of career. The study also analysed the gender and socioeconomic variations with respect to the career preferences and factors influencing the career choice of real estate students in an emergent market like Nigeria. Design/methodology/approach Closed-ended questionnaires were administered on final year real estate students in the three Federal universities offering real estate in Southwestern Nigeria. Data were analysed using frequency counts, percentages, mean ranking, independent t-test, analysis of variance and correlation analysis. Findings The findings showed that the predominant individual factors influencing career choice of real estate students were personal career interest, the magnitude of initial salary, future financial prospects and job security. Furthermore, while intrinsic and economic/financial factors were the major themes influencing respondents’ career choice, the influence of a third party was less a likely determinant. Analysis of gender differences showed that there was a statistical difference between the male and female respondents with respect to the intrinsic and career exposure factors. Research limitations/implications The study has implications for real estate students, career advisers/academic counsellors, organisations employing the services of real estate graduates, and educational institutions and policy stakeholders in the real estate sector. The study also has implication for real estate professional bodies in Nigeria and other emergent markets. Originality/value This is perhaps the first attempt that examined the factors influencing the career choice of real estate students in an emergent market like Nigeria, especially from the perspectives of gender and socioeconomic variations.
Journal of Facilities Management
PurposeThis study aims to examine the predictors of entrepreneurial intentions of real estate stu... more PurposeThis study aims to examine the predictors of entrepreneurial intentions of real estate students in an emerging economy where there are significant odds against paid employment owing to the dwindling economic drivers.Design/methodology/approachPrimary data was obtained using closed-ended questionnaire served on final-year real estate students in three tertiary institutions in Southwestern Nigeria. Out of a total of 231 copies of the questionnaire distributed, 160 (69.3%) were retrieved and found suitable for analysis. Using ordinal least square regression, the study examined the influence of the independent variables on the respondents’ entrepreneurial intention across two models. While the first model was without the moderators of prior entrepreneurial exposure (that is, parental occupation, relationship with a real estate entrepreneur, previous/current engagement in business and attendance at business/entrepreneurial seminars/workshops), the second included all the control v...
Journal of African Real Estate Research
Extant studies have documented cases of male domination and gender discrimination against women i... more Extant studies have documented cases of male domination and gender discrimination against women in real estate and construction businesses. It is not clear whether or not the sociocultural barriers to women’s rights to land and even real estate business opportunities have any influence on the entrepreneurial motivations and aspirations of real estate students in emerging Africa markets, and if there are gendered differences to this. Primary data were collected using closed-ended questionnaires administered on final year real estate students from three major universities in Nigeria. The study employed descriptive and inferential techniques, mainly independent sample t-test, factor analysis, correlation analysis and multivariate analysis of variance (MANOVA). The study revealed that the influential motivators of entrepreneurial intentions amongst real estate students were financial freedom/flexibility, personal preference/fulfilment, economic interest and prestige/status. However, an ...
International Journal of Construction Management
Journal of Facilities Management, 2021
Purpose Coworking space had been a trajectory in the commercial space operation and management gl... more Purpose Coworking space had been a trajectory in the commercial space operation and management globally. Commercial coworking/tenancy space is confronted with an unexpected shift. This paper aims to examine the peculiarity and investment characteristics of flexible office space and the post-COVID implications on coworking office space practice and investment. This is with a view toward providing investors with an understanding of the dynamics underpinning flexible office space investment in the Nigerian emerging property market. Design/methodology/approach This study adopted a qualitative research approach. Open-ended interview questions were used to solicit information from nine coworking space operators in the urban property market of Ibadan, Nigeria. The structured interview data were analyzed using Atlas.ti – a computer-aided qualitative data analysis software. Findings The findings show that the factors influencing demand for flexible office space in the study area include flex...
IOP Conference Series: Earth and Environmental Science, 2021
The purpose of this study is to assess the factors affecting students’ learning in civil engineer... more The purpose of this study is to assess the factors affecting students’ learning in civil engineering measurement, with a view to enhancing students learning experiences and outcomes. The methodology adopted for this research was quantitative with the use of questionnaires distributed to 30 civil engineering students in their 3rd year, studying at a Nigerian university. The measurement of items in the survey questionnaire was based on a 5 point Likert scale. The data from the survey were analysed using descriptive statistics such as percentages and mean scores. The data from the survey were also presented in the form of pie chart and table. Teaching style was found to be the most significant factor affecting students’ learning in civil engineering measurement. Other significant factors were factors that had to do with the nature of the course which included difficulty with understanding the measurement process, measurement calculations, standard method of measurement (SMM), taking of...
IOP Conference Series: Earth and Environmental Science, 2021
The technological shift over the last half-century has been termed the fourth industrial revoluti... more The technological shift over the last half-century has been termed the fourth industrial revolution (4thIR). Underpinning this digital innovation is the increasing need for data sharing and assemblage in the construction industry. The study seeks to explore the nexus between data sharing and assemblage in the industry and the 4thIR. This paper adopts a desk-based study approach and review of secondary literature on the role of data in the drive for automation in the construction industry, challenges to data assemblage, and benefits of data sharing to stakeholders. The study reveals that factors that serve as debacles to data sharing/assemblage include: unstructured nature of data, silo operation, confidentiality issues and motives of personal benefits. However, a major advantage of data sharing is the benefit of increased digital and technological compliance in the industry. The study is part of ongoing empirical research. Hence, the findings are an aggregation of perspectives/submi...
Smart and Sustainable Built Environment, 2021
PurposeThe study analysed the factors influencing real estate firms' (REFs) decision to adopt... more PurposeThe study analysed the factors influencing real estate firms' (REFs) decision to adopt virtual reality (VR) technology using the Decision-Making Trial and Evaluation Laboratory (DEMATEL) method. This was done to enhance the practice of real estate agency in Nigeria.Design/methodology/approachData were elicited from eight real estate experts. These experts were heads of the agency department of firms that had been in existence for a minimum of five years in the Lagos property market. The data analysed in this study were collected with the aid of a questionnaire.FindingsThe result revealed that use intention was influenced by performance expectancy, effort expectancy, social influence, facilitating conditions, hedonic motivation, price value and UB. Also, facilitating conditions, habit and use intention did not influence use behaviour. Overall, six constructs, which include price value (Ri − Cj value = 0.1284), use behaviour (Ri − Cj value = 0.0666), social influence (Ri − ...
Property Management, 2021
PurposeThis study aims to analyse the criteria used in measuring the determinants of the adoption... more PurposeThis study aims to analyse the criteria used in measuring the determinants of the adoption of virtual reality (VR) technology in real estate agency practice in Lagos, with a view to providing information with which the practice can be enhanced.Design/methodology/approachThe data for the study were elicited using a questionnaire which was administered to eight real estate firms (REFs). The firms were those that have been operating in Lagos for at least five years, and the data collected were analysed using the DEMATEL method.FindingsThe findings revealed that perceived utility and relative advantage were the most important criteria for determining REFs' performance expectancy with VR technology. The two most important criteria to measure effort expectancy were “perceived ease of use” and complexity. “Subjective norms” was the most important criterion for measuring social influence, while “perceived behavioural control” was the most important criterion to measure facilitati...
Journal of Corporate Real Estate, 2021
Purpose Coworking spaces are recent developments in commercial property investment portfolio in N... more Purpose Coworking spaces are recent developments in commercial property investment portfolio in Nigeria. Given the user-centered nature of coworking space practices, the purpose of this paper is to examine the factors influencing users’ preference for coworking, and the challenges associated with the use of coworking spaces in the emerging Nigeria property market. Design/methodology/approach This study used a quantitative research approach. This study sampled nine (9) traditional coworking spaces in Ibadan property market, from which 15 coworking space users were randomly selected in each of the coworking hubs. From a total of 135 respondents, only 45 (33.33%) questionnaires were retrieved and found suitable for analysis. The data collected were analyzed using descriptive and inferential statistics. Findings The results showed that economic and social motivators were significant drivers influencing coworkers’ decision to cowork. Personal factors were the least rated. Also, top-rated...
PURPOSE: This paper gives an overview of the body of knowledge (BOK) which often forms the founda... more PURPOSE: This paper gives an overview of the body of knowledge (BOK) which often forms the foundation of the curriculum development for real estate programs and discipline. It provides an overall background to understanding the expectations of the real estate profession on the knowledge, skills and attributes of real estate practitioners.DESIGN/METHODS: Desktop analysis of literature was employed to achieve these objectives.FINDINGS: The paper prescribes aggregation of knowledge, essential competencies and attributes that prospective real estate practitioners are expected to be certified in. This was done so that real estate education can align with industry requirements. The review showed that the BOK for real estate education focuses on three broad approaches/perspectives. These include the U.K. model, the U.S. model and a multi or inter-disciplinary approach to real estate education. The U.K. model allows real estate practitioners to have skills in legal and planning framework, as well as in building construction techniques but with little knowledge in the area of business and finance. They also appreciate their roles in the property development process. Contrarily, the U.S. model is anchored on applied finance and business. Their approach to knowledge of real estate is that of a business manager and has greater emphasis on finance and business management than building construction and surveying as found in the U.K. The multidisciplinary approach, which is a more diverse model, combines some of the components of the U.K. and U.S. models and advocated an interdisciplinary dimension to real estate education.PRACTICAL IMPLICATION: The paper concludes that BOK in real estate education and curriculum development are marked with differences from one country to another and varied depending on the needs and characteristics of every environment and nation.ORIGINALITY: This paper adds to the debate on the definition of the BOK for real estate education for which there is yet to be a clear cut direction either in academic or profession.
Smart and sustainable built environment, Feb 3, 2023
PurposeThe aim of this paper is to assess the behavioural factors that influence professionals... more PurposeThe aim of this paper is to assess the behavioural factors that influence professionals' intention to adopt green construction based on the theory of planned behaviour (TPB).Design/methodology/approachThe study adopted a quantitative research design with the use of online questionnaires to elicit information from construction professionals in South Africa. Descriptive statistics of frequencies, mean and standard deviation were used to analyse the data obtained from the survey. Linear regression was also used to assess the effect of behavioural factors on professionals' intention to adopt green construction.FindingsThe results showed that attitude and perceived behavioural control (PBC) have a significant effect on the intention to adopt green construction. These were significant at p < 0.05, having p-values of 0.000 and 0.015 respectively. The study also found that there was a positive disposition towards green construction, particularly with regards to insisting on green construction. This had a mean value of 3.99. There was also a high perception of succeeding in the execution of green projects with mean score of 3.76.Practical implicationsThe practical implication of the findings is that adoption of green construction in South Africa is majorly based on the positive attitude of stakeholders towards green construction and also the PBC or the perceived ease of executing green construction. However, these factors are not sufficient to generate long term commitment for green transformation among a critical mass of stakeholders in the South African construction industry. Hence, there is a need for focus on subjective norms (pressure) particularly from the government, to encourage the widespread adoption of green construction in South Africa.Originality/valueFindings present one of the pioneering efforts to empirically validate the influence of behavioural factors on the intention to adopt green construction in South Africa and the outcomes can provide policy directions and baseline data for further research.
Property Management, Dec 28, 2021
PurposeThis study investigates the impact of mentoring on real estate students' entrepreneuri... more PurposeThis study investigates the impact of mentoring on real estate students' entrepreneurial intentions with a focus on Nigeria, an emerging African economy. Specifically, the study assessed the influence of mentoring on the entrepreneurial intentions and career preferences of real estate students and analysed the influence of having a real estate mentor on the respondents' perception of the motivators and inhibitors to their entrepreneurial intentions.Design/methodology/approachThe study adopted a descriptive research approach using closed-ended questionnaires. The study population comprise final year real estate students selected from three federal universities offering Real Estate in southwest Nigeria. Total enumeration was adopted for the study. From a total population of 231 students, a response rate of 69.26%, representing 160 questionnaire were retrieved and found suitable for the analysis. Descriptive and inferential statistical techniques were employed for data analysis.FindingsThe result shows that the factor structure of the motivators for students who have real estate mentors clustered into four constructs; in order of influence are personal fulfilment/satisfaction, flexibility/financial motives, mentoring/economic influences and personal preferences/prestige and status. Meanwhile, economic/independence, personal preference/fulfilment, financial motives/self-perception and mentoring were the factor clusters influencing intention for real estate enterprise by students who have no real estate mentor. Predominant debacles across both categories of respondents relate to the lack of support and market uncertainty.Practical implicationsThere is a growing body of knowledge exploring the linkages between mentoring and the development of entrepreneurial intentions. However, scant empirical investigations have examined the impact of mentoring on real estate students, especially from the perspectives of emerging markets which are usually characterised by low economic opportunities and where issues of graduate unemployment appear endemic and yet to be appropriately resolved.Originality/valueThis study explores the implications of mentoring on the entrepreneurial intentions of real estate students' from the perspective of an emerging market.
Journal of Financial Management of Property and Construction, Feb 8, 2021
Purpose This paper aims to investigate the flexible decision pathways adopted by development advi... more Purpose This paper aims to investigate the flexible decision pathways adopted by development advisors in the management of uncertainty in property development. Specifically, the study examines the quantitative techniques adopted by development advisors, the level of adoption of real options analysis (ROA) vis-à-vis the level of adoption of heuristics. Finally, the types of options exercised in property development were analysed. This was with a view to providing information that could mitigate the challenges of risk and uncertainty and increasing investment failure associated with property development in Nigeria, an emerging market. Design/methodology/approach The study adopted a survey method and was conducted on development advisors in property development companies/estate surveying and valuation firms in Nigeria. A total of 195 development advisors participated in the survey. The respondents were required to rate, on a five-point Likert scale, the level of adoption of the quantitative models, heuristics and the types of flexibility exercised during development. The data were analysed using mean rating, one-sample t-test and analysis of variance. Findings The results revealed that there was a preference for the use of traditional techniques, while probabilistic appraisal models and other contemporary methods such as ROA are seldom adopted by development advisors. While there was a significantly high level of adoption of heuristics, the stratified analysis examining the profile of the respondents and the level of adoption of ROA and heuristics suggests that years of experience influenced the level of adoption of both the ROA and heuristics by the development advisors. The analysis of the types of flexibility showed that staging/phasing and changing the initial use/design were the most prevalent flexibility pathways adopted during the development. However, the study found that there was no significant difference concerning the choice of flexibility being adopted by development advisors who used ROA and those who did not. Practical implications The study provides an understanding of the decision pathways adopted by development advisors in an emerging market like Nigeria. Originality/value The paper contributes to studies on decision-making pathways in the management of uncertainty under dynamic conditions by development advisors in emerging markets.
International journal of building pathology and adaptation, Apr 14, 2023
The international journal of construction management, Oct 25, 2019
Pacific rim property research journal, Sep 1, 2020
ABSTRACT The study investigated the job satisfaction levels of real estate firms’ employees and t... more ABSTRACT The study investigated the job satisfaction levels of real estate firms’ employees and the relationship between employees’ personal and demographic characteristics and their job satisfaction levels. This is intending to provide information that could enhance better job performance and enhance human resource management in the real estate industry. Data employed for the study was sourced using a close-ended questionnaire administered on private real estate firms’ employees in the Lagos property market. Data were analyzed using both descriptive and inferential statistical techniques. The result showed that financial consideration/personal accomplishment was the most important factor influencing employees’ level of satisfaction, followed by work environment skill variety/organizational culture, feedback/fairness, work passion and supervision/workload/work-life balance. Also, the analysis showed that demographic factors with significant relationships with job satisfaction include age, marital status, academic qualification, management level, years spent under the current line manager, remuneration and number of firm branches. Thus, given the increasing investors’ attention towards investments in emerging property markets, and the need to satisfy clients’ increasing sophistication and dynamism, private real estate firms are encouraged to prioritize issues relating to remunerations and workers welfare thereby ensuring an increased level of employees’ satisfaction, enhanced job performance and increased firms’ productivity.
Journal of Facilities Management, Jul 24, 2020
Property Management, Feb 18, 2019
Purpose The purpose of this paper is to examine the career preferences of real estate students an... more Purpose The purpose of this paper is to examine the career preferences of real estate students and the predisposing factors influencing the choice of career. The study also analysed the gender and socioeconomic variations with respect to the career preferences and factors influencing the career choice of real estate students in an emergent market like Nigeria. Design/methodology/approach Closed-ended questionnaires were administered on final year real estate students in the three Federal universities offering real estate in Southwestern Nigeria. Data were analysed using frequency counts, percentages, mean ranking, independent t-test, analysis of variance and correlation analysis. Findings The findings showed that the predominant individual factors influencing career choice of real estate students were personal career interest, the magnitude of initial salary, future financial prospects and job security. Furthermore, while intrinsic and economic/financial factors were the major themes influencing respondents’ career choice, the influence of a third party was less a likely determinant. Analysis of gender differences showed that there was a statistical difference between the male and female respondents with respect to the intrinsic and career exposure factors. Research limitations/implications The study has implications for real estate students, career advisers/academic counsellors, organisations employing the services of real estate graduates, and educational institutions and policy stakeholders in the real estate sector. The study also has implication for real estate professional bodies in Nigeria and other emergent markets. Originality/value This is perhaps the first attempt that examined the factors influencing the career choice of real estate students in an emergent market like Nigeria, especially from the perspectives of gender and socioeconomic variations.
Journal of Facilities Management
PurposeThis study aims to examine the predictors of entrepreneurial intentions of real estate stu... more PurposeThis study aims to examine the predictors of entrepreneurial intentions of real estate students in an emerging economy where there are significant odds against paid employment owing to the dwindling economic drivers.Design/methodology/approachPrimary data was obtained using closed-ended questionnaire served on final-year real estate students in three tertiary institutions in Southwestern Nigeria. Out of a total of 231 copies of the questionnaire distributed, 160 (69.3%) were retrieved and found suitable for analysis. Using ordinal least square regression, the study examined the influence of the independent variables on the respondents’ entrepreneurial intention across two models. While the first model was without the moderators of prior entrepreneurial exposure (that is, parental occupation, relationship with a real estate entrepreneur, previous/current engagement in business and attendance at business/entrepreneurial seminars/workshops), the second included all the control v...
Journal of African Real Estate Research
Extant studies have documented cases of male domination and gender discrimination against women i... more Extant studies have documented cases of male domination and gender discrimination against women in real estate and construction businesses. It is not clear whether or not the sociocultural barriers to women’s rights to land and even real estate business opportunities have any influence on the entrepreneurial motivations and aspirations of real estate students in emerging Africa markets, and if there are gendered differences to this. Primary data were collected using closed-ended questionnaires administered on final year real estate students from three major universities in Nigeria. The study employed descriptive and inferential techniques, mainly independent sample t-test, factor analysis, correlation analysis and multivariate analysis of variance (MANOVA). The study revealed that the influential motivators of entrepreneurial intentions amongst real estate students were financial freedom/flexibility, personal preference/fulfilment, economic interest and prestige/status. However, an ...
International Journal of Construction Management
Journal of Facilities Management, 2021
Purpose Coworking space had been a trajectory in the commercial space operation and management gl... more Purpose Coworking space had been a trajectory in the commercial space operation and management globally. Commercial coworking/tenancy space is confronted with an unexpected shift. This paper aims to examine the peculiarity and investment characteristics of flexible office space and the post-COVID implications on coworking office space practice and investment. This is with a view toward providing investors with an understanding of the dynamics underpinning flexible office space investment in the Nigerian emerging property market. Design/methodology/approach This study adopted a qualitative research approach. Open-ended interview questions were used to solicit information from nine coworking space operators in the urban property market of Ibadan, Nigeria. The structured interview data were analyzed using Atlas.ti – a computer-aided qualitative data analysis software. Findings The findings show that the factors influencing demand for flexible office space in the study area include flex...
IOP Conference Series: Earth and Environmental Science, 2021
The purpose of this study is to assess the factors affecting students’ learning in civil engineer... more The purpose of this study is to assess the factors affecting students’ learning in civil engineering measurement, with a view to enhancing students learning experiences and outcomes. The methodology adopted for this research was quantitative with the use of questionnaires distributed to 30 civil engineering students in their 3rd year, studying at a Nigerian university. The measurement of items in the survey questionnaire was based on a 5 point Likert scale. The data from the survey were analysed using descriptive statistics such as percentages and mean scores. The data from the survey were also presented in the form of pie chart and table. Teaching style was found to be the most significant factor affecting students’ learning in civil engineering measurement. Other significant factors were factors that had to do with the nature of the course which included difficulty with understanding the measurement process, measurement calculations, standard method of measurement (SMM), taking of...
IOP Conference Series: Earth and Environmental Science, 2021
The technological shift over the last half-century has been termed the fourth industrial revoluti... more The technological shift over the last half-century has been termed the fourth industrial revolution (4thIR). Underpinning this digital innovation is the increasing need for data sharing and assemblage in the construction industry. The study seeks to explore the nexus between data sharing and assemblage in the industry and the 4thIR. This paper adopts a desk-based study approach and review of secondary literature on the role of data in the drive for automation in the construction industry, challenges to data assemblage, and benefits of data sharing to stakeholders. The study reveals that factors that serve as debacles to data sharing/assemblage include: unstructured nature of data, silo operation, confidentiality issues and motives of personal benefits. However, a major advantage of data sharing is the benefit of increased digital and technological compliance in the industry. The study is part of ongoing empirical research. Hence, the findings are an aggregation of perspectives/submi...
Smart and Sustainable Built Environment, 2021
PurposeThe study analysed the factors influencing real estate firms' (REFs) decision to adopt... more PurposeThe study analysed the factors influencing real estate firms' (REFs) decision to adopt virtual reality (VR) technology using the Decision-Making Trial and Evaluation Laboratory (DEMATEL) method. This was done to enhance the practice of real estate agency in Nigeria.Design/methodology/approachData were elicited from eight real estate experts. These experts were heads of the agency department of firms that had been in existence for a minimum of five years in the Lagos property market. The data analysed in this study were collected with the aid of a questionnaire.FindingsThe result revealed that use intention was influenced by performance expectancy, effort expectancy, social influence, facilitating conditions, hedonic motivation, price value and UB. Also, facilitating conditions, habit and use intention did not influence use behaviour. Overall, six constructs, which include price value (Ri − Cj value = 0.1284), use behaviour (Ri − Cj value = 0.0666), social influence (Ri − ...
Property Management, 2021
PurposeThis study aims to analyse the criteria used in measuring the determinants of the adoption... more PurposeThis study aims to analyse the criteria used in measuring the determinants of the adoption of virtual reality (VR) technology in real estate agency practice in Lagos, with a view to providing information with which the practice can be enhanced.Design/methodology/approachThe data for the study were elicited using a questionnaire which was administered to eight real estate firms (REFs). The firms were those that have been operating in Lagos for at least five years, and the data collected were analysed using the DEMATEL method.FindingsThe findings revealed that perceived utility and relative advantage were the most important criteria for determining REFs' performance expectancy with VR technology. The two most important criteria to measure effort expectancy were “perceived ease of use” and complexity. “Subjective norms” was the most important criterion for measuring social influence, while “perceived behavioural control” was the most important criterion to measure facilitati...
Journal of Corporate Real Estate, 2021
Purpose Coworking spaces are recent developments in commercial property investment portfolio in N... more Purpose Coworking spaces are recent developments in commercial property investment portfolio in Nigeria. Given the user-centered nature of coworking space practices, the purpose of this paper is to examine the factors influencing users’ preference for coworking, and the challenges associated with the use of coworking spaces in the emerging Nigeria property market. Design/methodology/approach This study used a quantitative research approach. This study sampled nine (9) traditional coworking spaces in Ibadan property market, from which 15 coworking space users were randomly selected in each of the coworking hubs. From a total of 135 respondents, only 45 (33.33%) questionnaires were retrieved and found suitable for analysis. The data collected were analyzed using descriptive and inferential statistics. Findings The results showed that economic and social motivators were significant drivers influencing coworkers’ decision to cowork. Personal factors were the least rated. Also, top-rated...
Purpose: The paper examined the performance of securitised property and analysed its diversificat... more Purpose: The paper examined the performance of securitised property and analysed its diversification benefits when added into domestic mixed-asset portfolios constructed using Naïve and MPT optimization techniques. The paper also tested the hypothesis that the performance of naïve portfolios with securitised properties is better than naïve portfolios without securitised property.
Design/methods: The data comprised quarterly returns of securitised property, all share, Federal bonds, State bonds, Debentures and Treasury bills for years 2000 to 2013. Return-risk analysis was compared using mean return, standard deviation, Sharpe ratio and correlation coefficient. Preliminary analysis was conducted on the data sets to examine the stationarity using the Philip Perron unit root test. In assessing securitised property return enhancements and risk reduction benefits in mixed-asset portfolio, 24 naïve portfolios (18 with securitised property and 6 without securitised property) were constructed and the effectiveness of diversification was assessed for each portfolio. This is in addition to examining the impact of securitised property on optimal portfolios using Markowitz quadratic function.
Findings: The results showed that securitised property did not offer superior returns and underperformed most other assets on risk adjusted basis. While the results of the naïve portfolio showed no statistically significant difference in portfolio performance when securitised property was included; the effect was however dependent on the percentage weightings of assets and the asset class being replaced. The MPT analysis showed that along the efficient frontier, securitised property has no percentage allocation in the mixed-asset portfolio.
Practical Implication: The study has implications for investors interested in emerging markets like the Nigerian investment market.
Originality: It is one of the few attempts within the context of Africa’s emerging market and Nigeria in particular.
Keywords: securitised property, mixed-asset portfolio, diversification, emerging market, investment, Nigeria