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Article

Chung Yim Edward Yiu and Ka Shing Cheung

The repeat sales house price index (HPI) has been widely used to measure house price movements on the assumption that the quality of properties does not change over time…

Abstract

Purpose

The repeat sales house price index (HPI) has been widely used to measure house price movements on the assumption that the quality of properties does not change over time. This study aims to develop a novel improvement-value adjusted repeat sales (IVARS) HPI to remedy the bias owing to the constant-quality assumption.

Design/methodology/approach

This study compares the performance of the IVARS model with the traditional hedonic price model and the repeat sales model by using half a million repeated sales pairs of housing transactions in the Auckland Region of New Zealand, and by a simulation approach.

Findings

The results demonstrate that using the information on improvement values from mass appraisal can significantly mitigate the time-varying attribute bias. Simulation analysis further reveals that if the improvement work done is not considered, the repeat sales HPI may be overestimated by 2.7% per annum. The more quality enhancement a property has, the more likely it is that the property will be resold.

Practical implications

This novel index may have the potential to enable the inclusion of home condition reporting in property value assessments prior to listing open market sales.

Originality/value

The novel IVARS index can help gauge house price movements with housing quality changes.

Details

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

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Book part

Kamil Matuszczyk

The aim of the chapter is a comparative analysis of the level of labour market security in four countries representing different social models: the United Kingdom…

Abstract

The aim of the chapter is a comparative analysis of the level of labour market security in four countries representing different social models: the United Kingdom, Germany, Poland and Ukraine. For this purpose, Eurostat, Organisation for Economic Cooperation and Development (OECD), European Social Survey (ESS) and European Working Conditions Survey (EWCS) data were used. They allowed to show significant differences which occurred in 2004–2017 in the situation of the employees in the analysed countries. The analysis showed that employees in both the United Kingdom and Germany are characterised by a relatively high level of labour market security, but such security is provided in two different ways – in the former country employment security is more important, while job security prevails in the latter. Despite a significant improvement in employment conditions in Poland and Ukraine, the objective and subjective situation of employees there remains much worse than is the case in Germany and the United Kingdom. All the differences between the studied countries confirm the thesis regarding the flows of migrant workers seeking a satisfactory level of labour market security.

Details

Why Do People Migrate?
Type: Book
ISBN: 978-1-83867-747-3

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Article

Alistair R. Anderson and Edward Yiu‐chung Lee

This article aims to examine one aspect of Chinese culture, guanxi. Guanxi, “special relationships” has long been employed to facilitate business in China. The authors ask…

Abstract

Purpose

This article aims to examine one aspect of Chinese culture, guanxi. Guanxi, “special relationships” has long been employed to facilitate business in China. The authors ask whether this is likely to continue in the rapidly changing environment. China's long history of insularity has created a culture and business environment considered to be uniquely based on Confucian values. Yet in the last couple of decades China has opened its doors to globalisation. These forces, in conjunction with what many see as Confucian dynamism of Chinese entrepreneurship, have generated economic growth levels in excess of 11 per cent per annum. This blending of the old and the new raises questions about how practices may be changing.

Design/methodology/approach

The authors employed a survey of two groups; middle managers in Hong Kong and young middle class in mainland China. These groups represent the modern, Hong Kong as westernised; the old, but with new perspectives, the affluent middle classes of present day China. Open‐ended questions about perceptions of understanding and use of guanxi were asked.

Findings

The research finds many contrasts between the respondent groups. The Hong Kong respondents did not really understand guanxi, but still thought it important in China. The mainland group both understood and used guanxi, but similarly to the Hong Kong group, did not like it or enjoy its use. Both groups saw a diminishing application of guanxi as China's regulatory and market environment improves.

Originality/value

The paper establishes that guanxi persists and may remain essential in China. However guanxi will work in conjunction with markets and regulations, rather than as a replacement.

Details

Journal of Small Business and Enterprise Development, vol. 15 no. 4
Type: Research Article
ISSN: 1462-6004

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Electronic Resources Review, vol. 2 no. 6
Type: Research Article
ISSN: 1364-5137

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Article

Carolan McLarney and Edward Chung

Culture is an overarching phenomenon that helps individuals make sense of their world. However, culture is not an unchanging “given.” Members of a society actively create…

Abstract

Culture is an overarching phenomenon that helps individuals make sense of their world. However, culture is not an unchanging “given.” Members of a society actively create culture and, through their activities and interactions, sustain or change this culture. In an organizational setting, culture gives meaning to each person’s membership in the social stage that is the workplace. In the process of cultural creation and sustenance, the past is often used as a harbinger of things to come. How an organization effectively uses the past to shape its present culture is a major focus of this study. This article is an ethnographic study of how culture is fabricated, sustained, and renewed in a small advertising firm. The authors propose three interpretive themes – nightmare avoidance, “Richardism,” and dream building – and develop these into a framework using Drucker’s three entrepreneurial strategies. A fourth strategy, creative divergence, emerges from our in‐depth analysis of EMC.

Details

Management Decision, vol. 38 no. 6
Type: Research Article
ISSN: 0025-1747

Keywords

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Abstract

Details

Kybernetes, vol. 28 no. 2
Type: Research Article
ISSN: 0368-492X

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Article

Cristina Ciocirlan, Ed Chung and Carolan McLarney

The paper seeks to build on a model from extant literature which utilized a similar historical analysis approach in a study of strategic decision making. Using the…

Abstract

Purpose

The paper seeks to build on a model from extant literature which utilized a similar historical analysis approach in a study of strategic decision making. Using the (unsuccessful) defence of Hong Kong in World War II as the historical case, the paper seeks first to apply Chung and McLarney's model in the analysis, and then extend the model so as to better handle the unique sequence of events that took place in 1941.

Design/methodology/approach

The paper employs a historical case event in an analysis of competitive strategies. The first section provides a descriptive historical account of the battle of Hong Kong. The second section describes the decision‐making model, while the third section applies the model to explain three sets of decisions: the decision to defend the colony, decisions made during the battle and the decision to surrender. The fourth section draws implications for strategic decision making in organizations, while the last section presents conclusions.

Findings

Organization theorists seem to be fascinated with planning and strategy formulation, at the expense of strategy implementation. While designing organizational strategy is often more glamorous than execution, it is the execution of strategy that ultimately determines an organization's competitive advantage. Clearly, the strategy of the Allied Forces in Hong Kong was not hard to figure out (Mintzberg). However, there is growing research on how lower organizational levels have a tremendous contribution in fundamentally changing, formulating organizational strategy and sometimes even obstructing strategy formulated at the top. The decision to defend Hong Kong in the face of the Japanese invasion, decisions made during the battle and the decision to surrender were all major, critical decisions, especially susceptible to such biases as overconfidence, problem framing, availability heuristics and confirming‐evidence. Overconfidence is particularly dangerous.

Originality/value

The study not only modifies and extends the model, but also contributes to the literature by augmenting the validity of previous case research.

Details

Management Decision, vol. 49 no. 6
Type: Research Article
ISSN: 0025-1747

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Article

Alvin Y. So and Ping Lam Ip

The purpose of this paper is to trace the changing pattern of identity politics in Hong Kong Special Administrative Region (HKSAR). It shows that in response to the…

Abstract

Purpose

The purpose of this paper is to trace the changing pattern of identity politics in Hong Kong Special Administrative Region (HKSAR). It shows that in response to the massive urban renewal projects in the 2000s, “civic localism” in the form of cultural preservation movement emerged to protect local community culture against the government-business hegemony. However, due to the deepening of social integration between Hong Kong and the mainland, a new “anti-mainland localism” emerged in the 2010s against the influx of mainlanders. In 2015–2016, as a result of Beijing’s active interference in Hong Kong affairs, localism is further transformed to Hong Kong “independence.”

Design/methodology/approach

This paper uses a historical methodology to trace the changing pattern of identity politics in Hong Kong after it becomes a special administrative region of China in 1997.

Findings

It shows how the interaction among the following three factors has shaped the pattern of localism in Hong Kong: macro historical-structural context, social movement dynamics and the response of Hong Kong and mainland government.

Practical implications

This paper argues that Beijing’s hardline policy toward Hong Kong localism may work in the short run to all push the pro-independence activities underground. However, unless the structural contradiction of the HKSAR is resolved, it seems likely that anti-mainland localism and Hong Kong independence sentiment and movement will come back with a vengeance at a later stage.

Originality/value

The literature tends to discuss Hong Kong localism in very general terms and fails to reveal its changing nature. This paper contributes by distinguishing three different forms of localism: civic localism in the mid-2000s, anti-mainland in the late 2000s and early 2010s, and independence after 2016. It shows how the macro historical-structural transformation, social movement dynamics and the responses of the Hong Kong SAR government and Beijing government have led to the changes of civic localism to anti-mainland localism, and finally to independence.

Details

Asian Education and Development Studies, vol. 9 no. 2
Type: Research Article
ISSN: 2046-3162

Keywords

Abstract

Details

International Marketing Review, vol. 32 no. 2
Type: Research Article
ISSN: 0265-1335

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Article

Raymond Kwun Sun Lau

The purpose of this paper is to make sense of the slow and frustrating process of democratization in Hong Kong through understanding the pan-democrats’ struggle for…

Abstract

Purpose

The purpose of this paper is to make sense of the slow and frustrating process of democratization in Hong Kong through understanding the pan-democrats’ struggle for realizing universal suffrage. It aims to offer possible explanations for the current political impasse between Hong Kong and mainland China over the issue of universal suffrage.

Design/methodology/approach

This paper seeks to construct a triangular model of institutional constraint, clashing visions of democracy and mutual political distrust for understanding the pan-democrats’ struggle for realizing universal suffrage in Hong Kong since the 1980s, the nature of current political predicament they found themselves in and the current political impasse between the pan-democrats and Beijing.

Findings

The dilemma facing Hong Kong’s pan-democrats and Beijing’s leadership is attributed to the institutional constraints of Basic Law on Hong Kong’s system of governance, the clashing visions of Beijing-led Chinese-style democracy and Western-style liberal democracy as advocated by the pan-democrats and the mutual political distrust between the two parties. The findings suggest that this triangular model will remain relevant in understanding the political predicament of the pan-democrats under Chinese rule and the political impasse between Hong Kong and mainland China over universal suffrage for the coming decades.

Originality/value

This paper provides a new interpretation of the current political impasse between Hong Kong and mainland China over the issue of universal suffrage. It offers new insights into the nature of current political predicament the pan-democrats found themselves in amidst their fight for realizing universal suffrage since the 1980s by constructing a triangular model of institutional constraints, clashing visions of democracy and mutual political distrust.

Details

Asian Education and Development Studies, vol. 8 no. 4
Type: Research Article
ISSN: 2046-3162

Keywords

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