John R. Lombard

Determinants of Neighborhood Satisfaction in Fee-Based Gated and Nongated Communities:

Neighborhoods unable to adequately satisfy perceived resident needs are susceptible to the migration of their inhabitants to areas that better address their needs. Using the American Housing Survey, the authors examine neighborhood satisfaction and its relationship to perceptions of residents living in both gated and nongated fee-based neighborhoods. The findings indicate that respondent age and the lack of knowledge of crime have the largest positive impact on how the residents rated their neighborhoods. While chronological age may have myriad possible influential factors, the simple knowledge by residents of neighborhood crime has implications for crime prevention and community awareness efforts.

Impact of Headquarters Relocation on the Operating Performance of the Firm

Communities often compete fiercely for corporate headquarters relocations. Although headquarters relocations affect both the losing and winning communities, the authors investigate only the impact of corporate headquarters relocation on the subsequent financial performance of the firm. Prior research using event study methodology suggests that headquarters relocation announcements, when controlling for motivation of relocation, significantly affect short-term stock market reactions. Unlike previous research in this area, the authors use an industry-matched-firm comparison and investigate the impact of relocation on select performance indicators over a 6-year period surrounding the relocation. Using a sample of 167 corporate headquarters relocations during the 1990s, they find little evidence of improved operating performance after headquarters relocation. They also test for the influence of distance as a factor and find that the distance relocated has no significant impact.

Developing Infrastructure Through the Use of Tax Increment Financing The Case of the Virginia Beach Town Center Project

The use of tax increment finance (TIF) arrangements to finance capital-intensive infrastructure needs is not a new concept, but it is gaining traction in many states and municipalities. This article presents the case of the Town Center project in Virginia Beach, Virginia, and the use of a TIF to provide infrastructure for the project. The authors find that the success of the TIF is because of a combination of a reduction in public risk, careful planning, and close attention paid to the capabilities of the private sector partners. The authors conclude that the TIF mechanism is an appropriate and attractive means to fund infrastructure needs, provided the trade-offs and pitfalls are carefully considered and understood.

Competing and Cooperating across State Borders in Economic Development A Call for “Coopertition”

This essay discusses the evolution of cross-border cooperation in local and state government in the contentious and competitive arena of economic development. Drawing on literatures from economic development and public administration, the authors highlight current issues and conflicts in cross-border cooperation drawing on several cases of successful ventures. In particular, they suggest that state and local governments adopt a new frame for understanding and evaluating cross-border cooperation as economic development “coopertition.” The logic of coopertition in economic development is that while a particular unit of government may not secure a specific economic development project, the odds of securing any project are increased if that government becomes more competitive by cooperating with other governments. Coopertition is thus the result of a need to cooperate to be more competitive.

Examining Admission Factors in an MPA Program

Abstract This article presents an in-depth examination of the validity of the admission factors employed by a NASPAA-accredited MPA program. Admission factors are examined to determine if particular factors, or a set of factors, are most indicative of an applicant’s potential achievement in the MPA program as measured by a student’s final grade point average (GPA) in the program. The study uses truncated regression techniques to analyze student records in order to determine the relative significance of a set of commonly collected admissions information. We find that the best predictor of success in the MPA program, as measured by final GPA in the program, is the applicant’s undergraduate GPA. This finding brings into question the utility of much of the information collected in a typical MPA program application.

Further Evaluating the Impact of Kernel and Bandwidth Specifications of Geographically Weighted Regression on the Equity and Uniformity of Mass Appraisal Models

Research has consistently demonstrated that geographically weighted regression (GWR) models significantly improve upon accuracy of ordinary least squares (OLS)-based computer-assisted mass appraisal (CAMA) models by more accurately accounting for the effects of location (Fotheringham et al. 2002; LeSage 2004; Huang et al. 2010). Bidanset and Lombard (2014a, 2017) previously studied the impacts of various kernel and bandwidth combinations employed in building residual (i.e. sale price less land value) GWR CAMA models and found that the specification of each does bear significant effect on valuation equity attainment. This paper builds upon the previous research by comparing performance of weighting specifications of non-building residual (i.e. full sale price) GWR CAMA models using new data of a different geographic real estate market. We find that the exponential kernel and fixed bandwidth together achieve a superior COD for our data, and that COD does fluctuate depending on the GWR weighting specification.