Purpose: The purpose of this study is to explain the contribution of Corporate Real Estate Management (CREM) to corporate success and to substantiate it empirically. However, no empirically tested holistic concept classifies and explains the different success contributions of CREM in their mechanisms of action and organisational levels. Design/methodology/approach: This study develops a holistic two-dimensional model from existing literature to explain the relationship between CREM decisions and business success, and then tests it empirically using multidimensional data scaling from a telephone company survey (CATI) of 59 CREM managers sampled from the 200 largest German companies. Findings: The created theoretical model holistically explains CREM success and existence as part of a non-property company, with specific performance drivers on specific organisational levels. The empirical data confirm that both dimensions of the model and, thus the measurement concept for modelling the CREM contribution to business success is robust across sectors and company/portfolio size in Germany. Originality/value: The empirical confirmation of the conceptual model of CREM success provides novel support for the institutionalisation of the CREM function in companies and the holistic classification of different CREM research directions.
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- Corporate real estate finance
- CREM concept
- CREM model
- CREM organisation
- CREM performance
- Multidimensional scaling
- Property management