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Article
Publication date: 6 May 2021

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

Keywords

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Article
Publication date: 24 October 2008

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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Book part
Publication date: 26 December 2016

John Y. Lo

Abstract

Details

Angel Financing in Asia Pacific
Type: Book
ISBN: 978-1-78635-128-9

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Article
Publication date: 1 June 2010

Mehmet Demirbag, Ekrem Tatoglu and Keith W. Glaister

Drawing on institutional and transaction cost theories, the purpose of this paper is to examine the location choice for a sample of 522 foreign affiliates of Turkish…

Abstract

Purpose

Drawing on institutional and transaction cost theories, the purpose of this paper is to examine the location choice for a sample of 522 foreign affiliates of Turkish multinational enterprises (MNEs).

Design/methodology/approach

Binary logistic regressions are conducted to test a number of hypotheses on the functional relationships between the hypothesized effect of variables and location choice of Turkish MNEs based on a secondary data drawn from official sources.

Findings

In general, the findings provide support for the majority of the study's hypotheses and tend to confirm the theoretical perspectives adopted. The level of political constraints, the level of knowledge infrastructure in the host country market, subsidiary density, industry R&D intensity and subsidiary size are found to have the expected impact on the Turkish MNE's location choice among geographic alternatives. No support is found for the impact of ownership mode of subsidiary and the group affiliation on Turkish MNEs' location choice for their subsidiaries.

Research limitations/implications

The paper focuses on Turkish MNEs and the findings may not be generalizable to other emerging country (EC) MNEs. Also, the classification of geographic location into developed versus emerging countries may be too crude.

Practical implications

In general, the paper posits that Turkish MNEs have a motive of strategic asset seeking to enhance their global competitiveness when they enter developed countries, whereas they simply attempt to exploit their firm‐specific advantages or competencies when they access emerging countries.

Originality/value

Given the increasing number of EC MNEs entering other emerging and developed markets, this paper adds to the understanding of the determinants of location strategies of Turkish MNEs by identifying key regional characteristics that lead Turkish MNEs to select particular locations, among the several geographic alternatives.

Details

International Marketing Review, vol. 27 no. 3
Type: Research Article
ISSN: 0265-1335

Keywords

Content available
Article
Publication date: 1 March 2006

Lawrence W.C. Lai and K.W. Chau

Abstract

Details

Property Management, vol. 24 no. 2
Type: Research Article
ISSN: 0263-7472

Content available
Article
Publication date: 1 February 2005

Mike Hoxley

Abstract

Details

Structural Survey, vol. 23 no. 1
Type: Research Article
ISSN: 0263-080X

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Article
Publication date: 16 August 2019

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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Article
Publication date: 1 September 2008

Jamie D. Collins, Dan Li and Purva Kansal

This study focuses on home country institutions as sources of variation in the level of foreign investment into India. Our findings support the idea that institutional…

Abstract

This study focuses on home country institutions as sources of variation in the level of foreign investment into India. Our findings support the idea that institutional voids found in India are less of a deterrent to investments from home countries with high levels of institutional development than from home countries with similar institutional voids. Overall, foreign investments in India are found to be significantly related to the strength of institutions within home countries. The levels of both approved and realized foreign direct investment (FDI) are strongly influenced by economic factors and home country regulative institutions, and weakly influenced by home country cognitive institutions. When considered separately, the cognitive institutions and regulative institutions within a given home country each significantly influence the level of approved/realized FDI into India. However, when considered jointly, only the strength of regulative institutions is predictive of FDI inflows.

Details

Journal of Asia Business Studies, vol. 3 no. 1
Type: Research Article
ISSN: 1558-7894

Keywords

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Book part
Publication date: 22 November 2017

Doudou Sidibé and Raymond Saner

The aim of this chapter is to describe and discuss the growing intersection of roles and functions between states and multinationals in the field of diplomacy and how…

Abstract

Purpose

The aim of this chapter is to describe and discuss the growing intersection of roles and functions between states and multinationals in the field of diplomacy and how diplomatic skills are needed to support transnational companies in their search for markets in emerging countries.

Design/methodology/approach

Given the rapidly changing international business environment, we can observe the emergence of business diplomacy.

Findings

Transnational enterprises face multi-stakeholder engagements in the BRICs and increasingly employ techniques and strategies similar to the repertoire of tools used by diplomats and foreign affairs departments.

Originality/value

This chapter provides a detailed analysis of these new developments and seeks to explore the relations between multinational corporations and states, between multinationals and other stakeholders (local authorities, traditional leaders, NGOs etc.) and between multinationals.

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Article
Publication date: 19 August 2010

Ziyi Wei

Since China initiated its “go global” policy that promotes its overseas investment, China’s Outward Foreign Direct Investment (OFDI) has increased almost twenty times…

Abstract

Since China initiated its “go global” policy that promotes its overseas investment, China’s Outward Foreign Direct Investment (OFDI) has increased almost twenty times during the last 10 years, reaching $55.9 billion in 2008. The issue of internationalization of Chinese OFDI has attracted increasing attention of researchers from a business perspective. This article systematically reviews the previous studies on overseas investments by Chinese MNEs and discusses the characteristics of Chinese internationalization behavior at both firm level and country level. The internationalization of Chinese companies cannot be understood as a simple game of “catch up” with established MNEs, and more firm‐level empirical studies should be carried out on how these characteristics influence firms’ strategic decisions.

Details

Multinational Business Review, vol. 18 no. 3
Type: Research Article
ISSN: 1525-383X

Keywords

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