Purpose

Motivated by behavioral theories of the firm, this study aims to consider the extent to which knowledge gaps, organizational inertia and conflicts of interest prevent large real estate investment management firms from approaching asset management in a comprehensive manner.

Design/methodology/approach

Results of 93 semi-structured interviews conducted with real estate practitioners working in the USA are thematically analyzed.

Findings

All of the aforementioned factors are found to influence real estate asset management practices and serve as potential obstacles to operational excellence.

Research limitations/implications

The qualitative analysis is limited in the sense that it focuses exclusively on the perceptions of real estate practitioners in the USA who work for relatively large organizations. However, it offers compelling evidence that comprehensive asset management is difficult under the best of circumstances, and becomes even more so in the presence of knowledge gaps, organizational inertia and conflicts of interest.

Practical implications

Those working in asset management or with asset managers must be mindful of the obstacles discussed if they hope to encourage and facilitate process improvement.

Originality/value

The study contributes to a small but growing, body of research examining the challenges large real estate investment management firms face when trying to derive value from their asset management platforms.

中文翻译：

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全面房地产资产管理的障碍

目的

受企业行为理论的激励，本研究旨在考虑知识差距，组织惯性和利益冲突在多大程度上阻止大型房地产投资管理公司全面采用资产管理的方式。

设计/方法/方法

对在美国工作的房地产从业人员进行的93次半结构化访谈的结果进行了主题分析。

发现

发现所有上述因素都会影响房地产资产管理实践，并可能成为卓越运营的潜在障碍。

研究局限/意义

定性分析的局限性在于，它仅侧重于为相对大型组织工作的美国房地产从业者的看法。但是，它提供了令人信服的证据，表明在最佳情况下全面的资产管理是困难的，并且在存在知识鸿沟，组织惰性和利益冲突的情况下，综合资产管理变得更加困难。

实际影响

如果资产管理人员或资产管理人员希望鼓励和促进流程改进，则必须牢记所讨论的障碍。

创意/价值

这项研究有助于开展一个规模很小但正在不断发展的研究，研究大型房地产投资管理公司在试图从其资产管理平台中获取价值时所面临的挑战。