As an economic engine of contemporary societies, the real estate market needs to be carefully analyzed in terms of both urban management and private or public investment. Information on this market’s behavior can facilitate the identification of turning points in societies’ economic history. Analysts should focus not only on conditioning variables and other important determinants of relevance to investment evaluations but also on the impacts of each variable or factor. Measuring these effects is a key activity in decision-making processes. Given real estate’s growing importance to sustainable economic growth, this study concentrates on creating a multicriteria model for evaluating large real estate investments. A constructivist, process-oriented approach was applied in group work sessions held with a panel of experts with experience in dealing with this issue. These specialists structured the problem of evaluating large real estate investments using value-focused thinking (VFT) and cognitive mapping. The best-worst method (BWM) was then applied to calculate trade-offs among decision criteria and calibrate the evaluation system. The results were presented to and validated by a representative of Instituto da Habitação e da Reabilitação Urbana (Institute for Housing and Urban Rehabilitation), who identified the advantages and limitations of the proposed model, and suggested possible improvements.
Purpose
Resources and their analysis are essential to understand better companies’ internal and external dynamics and the weight each has in obtaining competitive advantages over the competition. This study aims to address the law and legal knowledge as a fundamental resource for companies to succeed in the markets to obtain a sustainable competitive advantage.
Design/methodology/approach
Based upon a sample of 200 managers, a structural equation model was used to validate the hypotheses under study.
Findings
Results show awareness and managers’ perception of the importance of law as a resource and its advantages for companies and the dichotomy between recognising this importance and not using it consistently.
Originality/value
Knowing the scope of business law and its growing importance for companies and being academically aware of the inexistence of studies that analyse the law as an individualised resource for companies, this study has a crucial contribution to the interconnection of these two fields – business and law.
ResumoO campo das relações entre mídia e educação é fértil em discussões que permitem visualizar novos caminhos para seu mútuo desenvolvimento, bem como de tendências epistemológicas que as caracterizam. O presente artigo expõe e discute um levantamento das produções acadêmicas (na forma de teses e dissertações) que tratam de tais relações, produções estas realizadas no período
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