Editorial
Article Type: Editorial From: Journal of Property Investment & Finance, Volume 30, Issue 1
As an editorial board member of JPIF, it is pleasing to see so many papers by new authors in recent copies of JPIF. This shows us the new group of property researchers are in good shape.
The only concern is that much of this research is strongly focused around REITs, with heavy econometric analysis, often around very micro issues. This is OK, but we need to keep it in perspective. The advantage of REITs is that they are in the listed property space and their financial performance data are readily available. But sometimes the econometric analysis is so overwhelming that it seems the author has lost sight of the underlying property issue. This sees the methodology becoming the focus of the paper, with rigorous analysis often confused with excessive methodology; often with limited discussion of what the results mean. The best papers are those that address an important property issue using appropriate methodologies and making suitable recommendations.
Also, REITs are an excellent research area, but they are not the only research area. Often data in other aspects of property research will take more effort to acquire, but there is more to life than just REITs. I do papers in the REIT area, but I also do papers in other areas of property that are more significant and impactful for the property industry in terms of resolving important research questions.
New property researchers are encouraged to think beyond REITs and expand their research agenda into other important areas of property. International markets, sustainability, corporate social responsibility, investment strategy,sovereign wealth funds, high wealth individuals and unlisted property fund issues are obvious areas that meet the mandate of JPIF. Often different methodologies are needed in these areas; still rigorous and still able to be published in top journals. This can also give you a niche research area, with less competition to publish in the area.
Some of the best papers that I have read are not embedded in excessive financial methodology, but are simple incisive papers in key areas of property. Some of the worst papers that I have read are so embedded in excessive financial methodology that I have no idea what they are trying to show.
Publishing in the top property journals is a key ingredient in advancing your property research career, and JPIF is a key journal to help in your research career. Developing a research paper writing style that shows rigor but also conveys the property message and insight is a key skill to acquire. It takes time to craft this skill, but the benefits are significant to your career.
So keep your research agenda flexible, use suitable methodologies and think beyond REITs. This will see you having more scope in your research agenda and having the opportunity to work in other important areas of property research. Hopefully, we will continue to see more new researchers publishing in JPIFacross the full spectrum of property research issues.
Graeme Newell
