Search results

11 – 20 of 279
Article
Publication date: 1 July 2004

Kwong Wing Chau, Siu Kei Wong and Chung Yim Yiu

In Hong Kong, a balcony is often perceived as a “green” provision in modern residential buildings. However, how the market values the benefits of balconies is seldom studied due…

1855

Abstract

In Hong Kong, a balcony is often perceived as a “green” provision in modern residential buildings. However, how the market values the benefits of balconies is seldom studied due to the difficulty in separating such benefits from other associated effects such as view enjoyment and security concerns. This paper attempts to study the implicit value of a balcony, the green effects of balconies on the prices of residential properties, and the effect of security concerns on balconies situated on lower floors. A sample of transactions in a private housing estate in Hong Kong has been studied. The sample contains apartments with and without balconies. A balcony is found to have a positive effect on the value of a property irrespective of the quality of the view. The negative effects of air and noise pollution on property prices are also found to be highly significant. Although security concerns are found on the low stories of a building, the provision of a balcony does not aggravate the hazard. Finally, the log‐linearity assumption in the empirical price model is relaxed by applying the Box‐Cox transformation to the continuous variables.

Details

Property Management, vol. 22 no. 3
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 9 March 2022

G.L. Infant Cyril and J.P. Ananth

The bank is termed as an imperative part of the marketing economy. The failure or success of an institution relies on the ability of industries to compute the credit risk. The…

Abstract

Purpose

The bank is termed as an imperative part of the marketing economy. The failure or success of an institution relies on the ability of industries to compute the credit risk. The loan eligibility prediction model utilizes analysis method that adapts past and current information of credit user to make prediction. However, precise loan prediction with risk and assessment analysis is a major challenge in loan eligibility prediction.

Design/methodology/approach

This aim of the research technique is to present a new method, namely Social Border Collie Optimization (SBCO)-based deep neuro fuzzy network for loan eligibility prediction. In this method, box cox transformation is employed on input loan data to create the data apt for further processing. The transformed data utilize the wrapper-based feature selection to choose suitable features to boost the performance of loan eligibility calculation. Once the features are chosen, the naive Bayes (NB) is adapted for feature fusion. In NB training, the classifier builds probability index table with the help of input data features and groups values. Here, the testing of NB classifier is done using posterior probability ratio considering conditional probability of normalization constant with class evidence. Finally, the loan eligibility prediction is achieved by deep neuro fuzzy network, which is trained with designed SBCO. Here, the SBCO is devised by combining the social ski driver (SSD) algorithm and Border Collie Optimization (BCO) to produce the most precise result.

Findings

The analysis is achieved by accuracy, sensitivity and specificity parameter by. The designed method performs with the highest accuracy of 95%, sensitivity and specificity of 95.4 and 97.3%, when compared to the existing methods, such as fuzzy neural network (Fuzzy NN), multiple partial least squares regression model (Multi_PLS), instance-based entropy fuzzy support vector machine (IEFSVM), deep recurrent neural network (Deep RNN), whale social optimization algorithm-based deep RNN (WSOA-based Deep RNN).

Originality/value

This paper devises SBCO-based deep neuro fuzzy network for predicting loan eligibility. Here, the deep neuro fuzzy network is trained with proposed SBCO, which is devised by combining the SSD and BCO to produce most precise result for loan eligibility prediction.

Details

Kybernetes, vol. 52 no. 8
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 15 July 2020

Alexis Pourcelot, Alain Coën, Richard Malle and Arnaud Simon

The purpose of this study is to highlight the determinants of market rents and to build a hedonic market rent index for each urban area and rental sector in France for the period…

Abstract

Purpose

The purpose of this study is to highlight the determinants of market rents and to build a hedonic market rent index for each urban area and rental sector in France for the period 1970–2013. The authors also analyse the market rent dynamics over this period, with a special attention to the turning points in the French housing policy.

Design/methodology/approach

For this purpose, the authors implement a hedonic model, called stratified time dummy variable, using the Box–Cox transformation as a functional form.

Findings

The contribution of this study to the housing research is threefold: First, the study improves our understanding of the French’s rental submarket specificities and their valuation. It sheds new light on the determinants of rents. Second, this study builds a hedonic market rent index over the period 1970–2013 for each geographical and sectoral segment (Paris urban area, urban areas of more and less than 100,000 inhabitants and private and public rental sectors). Third, this study explains rent dynamics focusing on the turning points in the French housing policy.

Originality/value

Finally, the authors provide the first long-term market rent index in France by submarket (geographical and sectoral). In the case of the French market, no long-term market rent exists. The only long series available is an indexed rent.

Details

Journal of European Real Estate Research , vol. 13 no. 2
Type: Research Article
ISSN: 1753-9269

Keywords

Article
Publication date: 13 August 2020

Chandra Sekhar Kolli and Uma Devi Tatavarthi

Fraud transaction detection has become a significant factor in the communication technologies and electronic commerce systems, as it affects the usage of electronic payment. Even…

Abstract

Purpose

Fraud transaction detection has become a significant factor in the communication technologies and electronic commerce systems, as it affects the usage of electronic payment. Even though, various fraud detection methods are developed, enhancing the performance of electronic payment by detecting the fraudsters results in a great challenge in the bank transaction.

Design/methodology/approach

This paper aims to design the fraud detection mechanism using the proposed Harris water optimization-based deep recurrent neural network (HWO-based deep RNN). The proposed fraud detection strategy includes three different phases, namely, pre-processing, feature selection and fraud detection. Initially, the input transactional data is subjected to the pre-processing phase, where the data is pre-processed using the Box-Cox transformation to remove the redundant and noise values from data. The pre-processed data is passed to the feature selection phase, where the essential and the suitable features are selected using the wrapper model. The selected feature makes the classifier to perform better detection performance. Finally, the selected features are fed to the detection phase, where the deep recurrent neural network classifier is used to achieve the fraud detection process such that the training process of the classifier is done by the proposed Harris water optimization algorithm, which is the integration of water wave optimization and Harris hawks optimization.

Findings

Moreover, the proposed HWO-based deep RNN obtained better performance in terms of the metrics, such as accuracy, sensitivity and specificity with the values of 0.9192, 0.7642 and 0.9943.

Originality/value

An effective fraud detection method named HWO-based deep RNN is designed to detect the frauds in the bank transaction. The optimal features selected using the wrapper model enable the classifier to find fraudulent activities more efficiently. However, the accurate detection result is evaluated through the optimization model based on the fitness measure such that the function with the minimal error value is declared as the best solution, as it yields better detection results.

Article
Publication date: 1 May 2006

Daniel Chi‐wing Ho, Yung Yau, Siu‐kei Wong, Alex King‐chung Cheung, Kwong‐wing Chau and Hing‐fung Leung

There has been a growing public concern over the importance of building management in apartment buildings. However, people's views toward the effects of building management on…

2043

Abstract

Purpose

There has been a growing public concern over the importance of building management in apartment buildings. However, people's views toward the effects of building management on building performance have long been divergent due to a lack of empirical study. This study aims to empirically test the relationship between building management regimes and the conditions of private apartment buildings in Hong Kong.

Design/methodology/approach

An assessment scheme was developed to assess the health and safety conditions of 134 apartment buildings. Multiple regression models were then applied to analyze the effect of building management regimes on building conditions. The optimal functional form of the regression models was selected using Box‐Cox transformation.

Findings

The empirical results suggested that the presence of incorporated owners and property management agents (PMA) are significant factors in enhancing building conditions.

Research limitations/implications

The sample was confined to single block buildings located in one particular district in Hong Kong. Further research is needed to validate the findings in estate‐type developments as well as those in other districts.

Practical implications

The empirical results assisted building owners in determining which management regimes to adopt should they want better building conditions. The government may also consider giving more support to owners by incorporating them and employing PMAs to create a pleasant living environment for society.

Originality/value

Our study is the first in the literature to provide an empirical test reconciling the divergent views toward the effects of building management with the conditions of buildings.

Details

Property Management, vol. 24 no. 3
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 20 October 2021

Houmera Bibi Sabera Nunkoo, Preethee Nunkoo Gonpot, Noor-Ul-Hacq Sookia and T.V. Ramanathan

The purpose of this study is to identify appropriate autoregressive conditional duration (ACD) models that can capture the dynamics of tick-by-tick mid-cap exchange traded funds…

Abstract

Purpose

The purpose of this study is to identify appropriate autoregressive conditional duration (ACD) models that can capture the dynamics of tick-by-tick mid-cap exchange traded funds (ETFs) for the period July 2017 to December 2017 and accurately predict future trade duration values. The forecasted durations are then used to demonstrate the practical usefulness of the ACD models in quantifying an intraday time-based risk measure.

Design/methodology/approach

Through six functional forms and six error distributions, 36 ACD models are estimated for eight mid-cap ETFs. The Akaike information criterion and Bayesian information criterion and the Ljung-Box test are used to evaluate goodness-of-fit while root mean square error and the Superior predictive ability test are applied to assess forecast accuracy.

Findings

The Box-Cox ACD (BACD), augmented Box-Cox ACD (ABACD) and additive and multiplicative ACD (AMACD) extensions are among the best fits. The results obtained prove that higher degrees of flexibility do not necessarily enhance goodness of fit and forecast accuracy does not always depend on model adequacy. BACD and AMACD models based on the generalised-F distribution generate the best forecasts, irrespective of the trading frequencies of the ETFs.

Originality/value

To the best of the authors’ knowledge, this is the first study that analyses the empirical performance of ACD models for high-frequency ETF data. Additionally, in comparison to previous works, a wider range of ACD models is considered on a reasonably longer sample period. The paper will be of interest to researchers in the area of market microstructure and to practitioners engaged in high-frequency trading.

Details

Studies in Economics and Finance, vol. 39 no. 1
Type: Research Article
ISSN: 1086-7376

Keywords

Article
Publication date: 10 April 2009

Ling‐Hin Li

The purpose of this paper is to examine land price changes in Beijing 1993‐2004. Examination of attributes of land price changes seeks to illustrate whether this market is…

1321

Abstract

Purpose

The purpose of this paper is to examine land price changes in Beijing 1993‐2004. Examination of attributes of land price changes seeks to illustrate whether this market is overshadowed by government regulations and controls leading to immature development and uncertainties.

Design/methodology/approach

Land price changes in Beijing within the study period are examined by statistical analyses as well as spatial observations using a GIS platform.

Findings

Land prices in Beijing are influenced by common market indicators such as GDP growth and investment, although market transactions of land in this city are not entirely open and the so‐called market prices are largely price levels agreed between the private developer and the authority under private treaty grant, instead of open auction or tender.

Research limitations/implications

The analyses of market land prices in Beijing in this paper show, however, that land prices do follow generally market principles and the highest and best use principle is more or less observed.

Originality/value

The paper shows that it is possible for a market mechanism to be established as long as the authority is resolved to achieve a steady reform progress in the urban land use system; however the basic conditions of a market mechanism may not be completely ready.

Details

Property Management, vol. 27 no. 2
Type: Research Article
ISSN: 0263-7472

Keywords

Abstract

Details

Structural Road Accident Models
Type: Book
ISBN: 978-0-08-043061-4

Abstract

Details

Structural Road Accident Models
Type: Book
ISBN: 978-0-08-043061-4

Article
Publication date: 9 August 2011

Luca A. Panzone

Eastern European countries have an important history of quality and tradition in winemaking. The radical economic modification that the wine sector had to face during communism…

Abstract

Purpose

Eastern European countries have an important history of quality and tradition in winemaking. The radical economic modification that the wine sector had to face during communism exposed these countries to various problems during transition, when their market share in Western European markets shrunk. This paper aims to argue that an important cause of the decline is the inability of price to convey information about the quality level of the wine, as from the theory of asymmetric information.

Design/methodology/approach

This paper uses the econometric theory of hedonic pricing to explore the research question, relating price to the characteristics of the wine, including a quality rating from a respected British wine expert for the year 2006. Results are presented for a sample of 134 wines coming from different Eastern European countries (EEC) sold in the UK. The analysis also tackles the issue of understanding which parameters contributed to the quality level of Eastern European wines, modelling the qualitative description in order to identify the keywords that explains the change in quality level.

Findings

The results show evidence of no correlation between ratings and price in the considered segment of the UK wine market, suggesting an imperfect communication of quality via the price information. Moreover, Romania, which is a very important producing country, has a weak brand value, suggesting the need for restructuring the industry and improving quality management schemes to compete in their newly enlarged destination market. The quality model shows that fruity flavours are those playing a most important role in defining the quality level; hence a more targeted product supply should be encouraged.

Originality/value

No previous research has used hedonic modelling to the case of Eastern European wines. Furthermore, the context used here is to understand the weaknesses of the specific segment, and the tool is used to investigate the loss of competitive advantage of Eastern European products in the UK markets, focusing on the quality/price relation.

Details

British Food Journal, vol. 113 no. 8
Type: Research Article
ISSN: 0007-070X

Keywords

11 – 20 of 279