Search results

11 – 20 of over 2000

Abstract

Details

Explaining Growth in the Middle East
Type: Book
ISBN: 978-0-44452-240-5

Article
Publication date: 13 February 2024

Marcelo Cajias and Anna Freudenreich

This is the first article to apply a machine learning approach to the analysis of time on market on real estate markets.

Abstract

Purpose

This is the first article to apply a machine learning approach to the analysis of time on market on real estate markets.

Design/methodology/approach

The random survival forest approach is introduced to the real estate market. The most important predictors of time on market are revealed and it is analyzed how the survival probability of residential rental apartments responds to these major characteristics.

Findings

Results show that price, living area, construction year, year of listing and the distances to the next hairdresser, bakery and city center have the greatest impact on the marketing time of residential apartments. The time on market for an apartment in Munich is lowest at a price of 750 € per month, an area of 60 m2, built in 1985 and is in a range of 200–400 meters from the important amenities.

Practical implications

The findings might be interesting for private and institutional investors to derive real estate investment decisions and implications for portfolio management strategies and ultimately to minimize cash-flow failure.

Originality/value

Although machine learning algorithms have been applied frequently on the real estate market for the analysis of prices, its application for examining time on market is completely novel. This is the first paper to apply a machine learning approach to survival analysis on the real estate market.

Details

Journal of Property Investment & Finance, vol. 42 no. 2
Type: Research Article
ISSN: 1463-578X

Keywords

Open Access
Article
Publication date: 2 March 2023

Anna-Karina Schmitz, Tim Oliver Brexendorf and Martin Fassnacht

Vertical line extension is an attractive growth strategy that allows brands to address heterogeneous consumer needs and react to competitive pressure. The purpose of this paper is…

2116

Abstract

Purpose

Vertical line extension is an attractive growth strategy that allows brands to address heterogeneous consumer needs and react to competitive pressure. The purpose of this paper is to systematically review and summarize vertical line extension research to derive general insights into vertical upward and downward line extension.

Design/methodology/approach

Drawing on a systematic review of 536 academic articles and predefined inclusion criteria, this research identifies and evaluates all articles that add knowledge to the topic of vertical line extension (n = 64).

Findings

This research derives general insights in several vertical line extension-specific issues. Different forms of vertical line extension, conceptual differences between upward and downward extensions, as well as the role of perceived fit, extension degree and the parent brand are crucial for the study and evaluation of extension and parent brand feedback effects. Those effects are complex and often work in opposing directions not only for the parent brand but also for the extension. Future research needs to face that complexity as well as methodological issues and different research contexts to further advance the literature stream.

Originality/value

This paper provides a comprehensive, state-of-the-art review of vertical line extension research characteristics and results. It provides new insights on the characteristics and effects of vertical line extensions and guides future research on the topic.

Details

Journal of Product & Brand Management, vol. 32 no. 6
Type: Research Article
ISSN: 1061-0421

Keywords

Article
Publication date: 1 March 1989

Stephen B. Castleberry and Anna V.A. Resurreccion

Considers the extent of the marketers need to communicate qualityto the consumer and the best ways of doing so. Examines the results ofan experiment involving consumers. Suggests…

Abstract

Considers the extent of the marketers need to communicate quality to the consumer and the best ways of doing so. Examines the results of an experiment involving consumers. Suggests that some communication of quality is generally better than no such communication, although whether specific or non‐specific quality appeals should be used depends on the relative price of the brand.

Details

Journal of Consumer Marketing, vol. 6 no. 3
Type: Research Article
ISSN: 0736-3761

Keywords

Article
Publication date: 18 January 2024

Nor Nazihah Chuweni, Nurul Sahida Fauzi, Asmma Che Kasim, Sekar Mayangsari and Nurhastuty Kesumo Wardhani

Sustainability represents innovative elements in determining the profitability of real estate investments, among other factors, including the green component in real estate…

Abstract

Purpose

Sustainability represents innovative elements in determining the profitability of real estate investments, among other factors, including the green component in real estate. Evidence from the literature has pointed out that incorporating green features into residential buildings can reduce operational costs and increase the building’s value. Although green real estate is considered the future trend of choice, it is still being determined whether prospective buyers are willing to accept the extra cost of green residential investment. Therefore, this study aims to investigate the effect of housing attributes and green certification on residential real estate prices.

Design/methodology/approach

The impact of the housing attribute and green certification in the residential sectors was assessed using a transaction data set comprising approximately 861 residential units sold in Selangor, Malaysia, between 2014 and 2022. Linear and quantile regression were used in this study by using SPSS software for a robust result.

Findings

The findings indicate that the market price of residential properties in Malaysia is influenced by housing attributes, transaction types and Green Building Index certification. The empirical evidence from this study suggests that green certification significantly affects the sales price of residential properties in Malaysia. The findings of this research will help investors identify measurable factors that affect the transaction prices of green-certified residential real estate. These identifications will facilitate the development of strategic plans aimed at achieving sustainable rates of return in the sustainable residential real estate market.

Practical implications

Specifically, this research will contribute to achieving area 4 of the 11th Malaysia Plan, which pertains to pursuing green growth for sustainability and resilience. This will be achieved by enhancing awareness among investors and homebuyers regarding the importance of green residential buildings in contributing to the environment, the economy and society.

Originality/value

The regression model for housing attributes and green certification on house price developed in this study could offer valuable benefits to support and advance Malaysia in realising its medium and long-term goals for green technology.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 1 January 2002

ANNA RITA BACINELLO and SVEIN‐ARNE PERSSON

The authors present a model that incorporates stochastic interest rates to value equity‐linked life insurance contracts. The model generalizes some previous pricing results of…

Abstract

The authors present a model that incorporates stochastic interest rates to value equity‐linked life insurance contracts. The model generalizes some previous pricing results of Arne and Persson [1994] that are based on deterministic interest rates. The article also proposes and compares a design for a new equity‐linked product with the periodical premium contract of Brennan and Schwartz [1976]. The advantages of the proposed prod‐uct are its simplicity in pricing and its ease of hedging, by using either by long positions in the linked mutual fund or by European call options on the same fund.

Details

The Journal of Risk Finance, vol. 3 no. 2
Type: Research Article
ISSN: 1526-5943

Article
Publication date: 6 August 2019

David Kim Hin Ho, Eddie C.M. Hui, Tai Wing Ho and Satyanarain Rengarajan

This paper aims to examine the behavior of “rational” residential developers, under game theory, for their pricing strategy in a competitive environment.

Abstract

Purpose

This paper aims to examine the behavior of “rational” residential developers, under game theory, for their pricing strategy in a competitive environment.

Design/methodology/approach

Results show that residential developers cooperate implicitly for long-term benefit, leading to a slow-down in sales. Developers are motivated to deviate from cooperating at the beginning and at the end of successive periods in a sub-market. Relatively high profits, earnable in the first few periods, provide an allowance to undercut prices and improve sales. For the last few periods, the punishment for any deviation from cooperating is insignificant or zero. Note that the first-mover advantage in a new market is evident. On the effect of uncertainty on the developer’s residential prices, results show that as uncertainty increases, prices decrease while price variability increases.

Research limitations/implications

This study highlights the merits of a uniquely simplified experimental research design for the strategic behavioral pricing of the private residential development market using a game theoretic approach.

Practical implications

This study enhances the understanding of the residential development strategy of developers in the residential development market.

Originality/value

There is limited research on pricing strategy for the private residential development market in Asia.

Open Access
Article
Publication date: 24 January 2018

Josep Maria Espinet-Rius, Modest Fluvià-Font, Ricard Rigall-Torrent and Anna Oliveras-Corominas

The purpose of this paper is to examine the effect on price of different cruise industry characteristics from the point of view of actual prices. The analysis is carried out from…

4486

Abstract

Purpose

The purpose of this paper is to examine the effect on price of different cruise industry characteristics from the point of view of actual prices. The analysis is carried out from the supply side but taking into account the real prices paid by customers.

Design/methodology/approach

This paper uses the hedonic price methodology. To develop this research, a database of more than 36,000 prices paid by cruise passengers and different characteristics of ships in 2013 was built. To obtain the results, ten models have been developed with significant adjusted R2 of between 0.85 and 0.93 making the models and results robust.

Findings

The results show that the main attributes affecting prices are the number of nights of the itinerary, the departure date, the number of days before departure the booking is made, the accommodation type and some facilities, such as casinos, cinemas and swimming pools. The results also yield a ranking of ship companies based on price and quality dimensions. Finally, the authors suggest some implications for management and new research.

Originality/value

This paper offers a new approach in the academic literature of the cruise industry in two respects. First, in its use of a broad database of actual prices paid by passengers – more than 36,000 observations. Second, in the application of the hedonic pricing methodology, widely used in the tourism sector (see the Methodology and Database section) but until now not in the cruising segment.

Details

European Journal of Management and Business Economics, vol. 27 no. 1
Type: Research Article
ISSN: 2444-8451

Keywords

Abstract

Details

Servitization Strategy and Managerial Control
Type: Book
ISBN: 978-1-78714-845-1

Open Access
Article
Publication date: 15 August 2023

Mats Wilhelmsson

This study aims to examine the impact of housing construction on single-family housing values and the implications for urban development.

643

Abstract

Purpose

This study aims to examine the impact of housing construction on single-family housing values and the implications for urban development.

Design/methodology/approach

To achieve this objective, the author used the difference-in-difference methodology to examine the effect of multifamily and single-family housing construction on surrounding single-family homes in Stockholm, Sweden. The author analysed data from approximately 480 housing construction projects between 2009 and 2014 and 17,000 single-family detached house transactions between 2005 and 2018.

Findings

The research found that multifamily construction projects did not affect the value of surrounding single-family homes, while single-family home construction had a negative impact. The author attributes this result to single-family housing projects typically located in areas with initially positive externalities, while multifamily housing projects are often located on the edge of areas with negative externalities before construction.

Research limitations/implications

The research is limited by its focus on a specific geographic area and time frame, and future research could expand the scope to include other cities and regions and different periods. Additionally, further research could examine the impact of housing construction on other economic factors beyond housing values.

Practical implications

The research has practical implications for urban planners and policymakers. They should consider the potential negative impact of new single-family home construction on existing single-family housing areas while balancing the need for new housing in urban areas. By carefully evaluating construction locations, policymakers can create more sustainable, livable and equitable urban environments that benefit all members of society.

Originality/value

This research paper contributes to the field of housing economics by examining the impact of housing construction on single-family housing values in the context of urban development and climate change mitigation. Using a difference-in-difference methodology, the study provides evidence of the price effect of multifamily and single-family housing construction on surrounding single-family homes, which has important policy implications for urban planners and policymakers. By identifying the negative impact of single-family home construction on surrounding areas and highlighting the need for careful evaluation of construction locations, the research provides valuable insights for creating sustainable, livable and equitable urban environments that benefit all members of society.

Details

International Journal of Housing Markets and Analysis, vol. 16 no. 7
Type: Research Article
ISSN: 1753-8270

Keywords

11 – 20 of over 2000