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Article
Publication date: 12 February 2020

A new measure of private rental market regulation index and its effects on housing rents: Cross-country evidence

Jan Philip Weber and Gabriel Lee

The purpose of this paper is twofold: first, the authors construct a country-specific time-varying private rental regulation index for 18 developed economies starting from…

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Abstract

Purpose

The purpose of this paper is twofold: first, the authors construct a country-specific time-varying private rental regulation index for 18 developed economies starting from 1973 to 2014. Second, the authors analyze the effects of their index on the housing rental markets across 18 countries and states.

Design/methodology/approach

The authors’ index not only covers 18 developed economies over 42 years but also combines both tenure security and rent laws. The authors’ empirical framework is that of panel regressions with time and country fixed effects.

Findings

The authors’ index sheds further insights on the extent to which rent and tenure security laws have converged over the past 40 years for each economy. Moreover, the authors show three empirical results. First, stringent rent control regimes do lead to lower real rent growth rates than regimes with free rents. Second, soft rent control regimes with time-limited tenure security and minimum duration periods, however, may cause higher rent growth rates than free rent regimes. Third, rent-free regimes do not show significant high real rent appreciation rates.

Originality/value

The authors’ rental regulation index is the first time-varying index that covers more than 18 economies over 40 years.

Details

International Journal of Housing Markets and Analysis, vol. 13 no. 4
Type: Research Article
DOI: https://doi.org/10.1108/IJHMA-12-2019-0118
ISSN: 1753-8270

Keywords

  • Rent control
  • First- and second-generation rent control regimes
  • Rent control law
  • Rental growth rate
  • Tenure security law
  • Time-varying rent regulation indices
  • K2
  • O18
  • R38

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Article
Publication date: 27 October 2020

Price decline, land rental markets and grain production in the North China Plain

Qian Wang, Fan Li, Jin Yu, Luuk Fleskens and Coen J. Ritsema

This study examines the heterogeneous correlations between rural farmers' land renting behavior and their grain production when they experienced a significant price decline.

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Abstract

Purpose

This study examines the heterogeneous correlations between rural farmers' land renting behavior and their grain production when they experienced a significant price decline.

Design/methodology/approach

We used well-timed panel data obtained from a two-round survey held in 2013 and 2017 among 621 households in the North China Plain. The empirical analyses were conducted by using the pooled ordinary least squares (OLS) and fixed effects models.

Findings

Rural tenants were having heterogeneous responses in land renting behavior and agricultural production when there was a price decline. A group of optimistic tenants (as professional farmers) were more likely to enlarge the farm scale for grain production through land rental markets but decrease variable investment levels (and subsequently decreased productivity) to cope with price decline. In contrast, nonprofessional farmers (the other rural tenants) were rather pessimistic about market performance, and they significantly decreased their grain production area to cope the price decline, but there was no decrease in grain productivity through reducing variable inputs.

Originality/value

This study contributes to the extant literature on the relationship between farmers' land renting-in behavior and agricultural production. By dividing the tenants into professional and nonprofessional farmers, we argue that there is a significant heterogeneous correlation between rural tenants' land renting behavior and grain production when farmers experience a price decline.

Details

China Agricultural Economic Review, vol. 13 no. 1
Type: Research Article
DOI: https://doi.org/10.1108/CAER-04-2019-0066
ISSN: 1756-137X

Keywords

  • Price decline
  • Land rental market
  • Grain production
  • Heterogeneous strategies
  • North China Plain

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Article
Publication date: 3 May 2013

Land tenure security and land investments in Northwest China

Xianlei Ma, Nico Heerink, Ekko van Ierland, Marrit van den Berg and Xiaoping Shi

The purpose of this paper is to examine the effect of perceived land tenure security in China on farmers' decisions to invest in relatively long‐term land quality…

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Abstract

Purpose

The purpose of this paper is to examine the effect of perceived land tenure security in China on farmers' decisions to invest in relatively long‐term land quality improvement measures, taking into account the potential endogeneity of tenure security.

Design/methodology/approach

Data from a survey held in 2008 and 2010 among 259 households in Minle County, Gansu province, covering the years 2007 and 2009, are used to estimate the factors affecting land levelling investments, irrigation canal investments and perceived land tenure security. The authors use the 2SCML technique and the IVLS method to estimate a selection model and a non‐limited regression model, respectively, and use IVP methods to examine the robustness of the results.

Findings

The authors' results indicate that perceived land tenure security significantly affects self‐governed investments but does not affect individual investments in land quality improvements. In particular, the authors find that households that consider land certificates as important for protecting land rights invest significantly more in irrigation canals construction and maintenance. The authors' results further provide evidence that individual investments in land quality improvement contribute to higher perceived land tenure security.

Originality/value

The paper contributes to the available literature on the relationship between land tenure security and land investments by examining the role of perceived (instead of formal) land tenure security and by making a distinction between individual household investments and self‐governed land investments. The authors' results provide an explanation for the phenomenon that land readjustments still take place in some parts of China, but not in others.

Details

China Agricultural Economic Review, vol. 5 no. 2
Type: Research Article
DOI: https://doi.org/10.1108/17561371311331133
ISSN: 1756-137X

Keywords

  • Property rights
  • Tenure security
  • Households
  • Investment decisions
  • China

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Article
Publication date: 3 May 2016

Effective audit committee, audit quality and earnings management: Evidence from Tunisia

Inaam ZGARNI, Khmoussi HLIOUI and Fatma ZEHRI

A steady stream of literature has examined relationships between audit committee effectiveness, audit quality and financial reporting quality. The purpose of this paper is…

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Abstract

Purpose

A steady stream of literature has examined relationships between audit committee effectiveness, audit quality and financial reporting quality. The purpose of this paper is to connect these various streams of research to provide an empirical evidence from an Arabic emergent country namely Tunisia. This study examines the role of audit committee effectiveness and audit quality on financial reporting quality particularly to mitigate the earnings management in the Tunisian companies before and after financial security law adoption.

Design/methodology/approach

The study uses ordinary least squares regression model to investigate the effect of audit committee characteristics, audit quality attributes and the interaction between these two overseeing mechanisms on earnings management for a sample of 29 non-financial listed Tunisian firms during the period 2001-2009.

Findings

The results document a substitute effect between the presence of Big Four auditor and effective audit committee in order to reduce the discretionary accruals before the enforcement of law no. 2005-96 dealing with the financial securities. The authors find a complementarity link between the score of audit committee’s effectiveness and auditor industry specialization’s to constrain earnings management. Finally, the findings show a complementary relation between audit committee’s effectiveness and audit tenure, after the passage of the law.

Research limitations/implications

This study shows the value of considering the institutional setting in governance research. This paper is restricted to firms in the Tunisia from 2001 to 2009. Future research should investigate this issue in other settings and periods.

Practical implications

This study is important to practitioner and academic literature, policy makers and professional accounting bodies as it shows that legislative reforms can enhance companies to adopt good governance practices in emerging countries. The results also give useful information to investors in examination the effect of audit committee characteristics and audit quality on earnings quality. Another interesting practical focus of this study is to assess how successful was the implementation of financial security law in improving audit transparency and support shareholder involvement in the audit process.

Originality/value

The results suggested that governance regulation is a substitute for strong governance mechanisms in both the pre- and post-law periods.

Details

Journal of Accounting in Emerging Economies, vol. 6 no. 2
Type: Research Article
DOI: https://doi.org/10.1108/JAEE-09-2013-0048
ISSN: 2042-1168

Keywords

  • Audit quality
  • Audit committee
  • Accruals

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Book part
Publication date: 19 December 2017

Determinants Of Precarious Employment In India: An Empirical Analysis

Rahul Suresh Sapkal and K. R. Shyam Sundar

The growing incidence of precarious employment across many sectors is a serious challenge for a developing country like India. Neo-liberal arguments justify precarity as…

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Abstract

The growing incidence of precarious employment across many sectors is a serious challenge for a developing country like India. Neo-liberal arguments justify precarity as essential for the development of the free market economy and advocate realigning human resource practices with an ever-changing business environment and labor cost conditions. This chapter seeks to identify the determinants and dynamics surrounding precarity of workers engaged in temporary employment in India. It uses the unique Employment and Unemployment Survey data set published by the National Sample Survey Organisation of Government of India for two time periods 2009–2010 (66th Round) and 2011–2012 (68th Round) to bring out the dimensions of precarity and identify the determinants (both micro- and macro-levels) of participation in temporary employment. We find that precarious employment is most likely to affect the young, women, non-union members, those belonging to minority and socially deprived communities with low land holding and low educational status. Precarious employment is also most pronounced in states where labor-intensive industries are exposed to global import competition and where labor laws are rigid. The chapter concludes by discussing the implications of these findings for the economic and social policies that Indian governments have adopted in recent years.

Details

Precarious Work
Type: Book
DOI: https://doi.org/10.1108/S0277-283320170000031011
ISBN: 978-1-78743-288-8

Keywords

  • Precarious work
  • informal employment
  • industrial relations
  • Global South
  • India

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Article
Publication date: 3 October 2019

“Family-friendly” tenancies in the private rented sector

Emily Walsh

This paper aims to analyse the extent to which the government’s recent proposals to end no-fault evictions will result in “family-friendly” tenancies.

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Abstract

Purpose

This paper aims to analyse the extent to which the government’s recent proposals to end no-fault evictions will result in “family-friendly” tenancies.

Design/methodology/approach

It applies the theoretical scholarship on the meaning of family and home to the current law relating to private rented tenancies and the government’s proposals to increase security of tenure in the private rented sector.

Findings

Security of tenure is important to a number of the key aspects of home. However, feelings of home are better protected by security of occupancy, which requires more than de jure security of tenure. For families to feel at home in the private rented sector, they must be permitted to personalise their home and to keep pets. Further legislative changes could achieve these changes. However, for families to really make a home in the private rented sector, they need to exercise some choice over where they live and for low-income families; this will only be possible with broader policy changes.

Originality/value

This paper contributes to the important scholarship on the meaning of home and applies this to the very current debate on the rights of tenants in the private rented sector.

Details

Journal of Property, Planning and Environmental Law, vol. 11 no. 3
Type: Research Article
DOI: https://doi.org/10.1108/JPPEL-04-2019-0020
ISSN: 2514-9407

Keywords

  • Security of tenure
  • Concept of home
  • Security of occupancy
  • Family-friendly
  • Eviction

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Article
Publication date: 3 August 2012

Voluntary guidelines on the governance of tenure

Richard Grover

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Abstract

Details

Journal of Property Investment & Finance, vol. 30 no. 5
Type: Research Article
DOI: https://doi.org/10.1108/jpif.2012.11230eaa.003
ISSN: 1463-578X

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Article
Publication date: 3 August 2015

An empirical examination of the effects of land tenure on housing values in Kampala, Uganda

Richard Irumba

– The purpose of this paper is to investigate the impact of land tenure on housing values in metropolitan Kampala.

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Abstract

Purpose

The purpose of this paper is to investigate the impact of land tenure on housing values in metropolitan Kampala.

Design/methodology/approach

A hedonic model is used to test the relationship between housing prices, land tenure and housing attributes using a cross-sectional dataset of transaction prices for 590 newly built houses sold in 2011.

Findings

Public leaseholds in Kampala offer a premium of 23 per cent in housing values compared to freeholds. This could be due to a lack of formal systems for the assessment of leasehold premium and ground rent charges, an arrangement which can offer utility to the lesse at the expense of lessor, thereby making leaseholds popular on the market, or the developers’ lack of information on the benefits of freehold causing them to value leaseholds higher than freeholds. Similarly, private mailo tenure offers a 12 per cent premium in housing values compared to freeholds. There is no significant impact of Kabaka’s mailo tenure on housing values. When compared to private mailo, public leaseholds offer an 11 per cent premium in housing values.

Practical implications

There is a need to advance leasehold as the urban land tenure for Uganda, disentangle multiple-layers of ownership on mailo land and roll out the land fund to enhance growth of the housing market in Kampala.

Originality/value

This paper is the first of its kind to empirically examine the impact of mailo land tenure on housing values. Findings provide useful insights for investors and policymakers in the housing sector in Uganda.

Details

International Journal of Housing Markets and Analysis, vol. 8 no. 3
Type: Research Article
DOI: https://doi.org/10.1108/IJHMA-11-2014-0044
ISSN: 1753-8270

Keywords

  • Housing prices
  • Housing industry
  • Hedonic modeling
  • Housing values
  • Kampala
  • Land tenure

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Article
Publication date: 17 April 2009

Housing and security in England and Wales: casualisation revisited

Jill Morgan

The purpose of this paper is to use the notion of “casualisation” in an employment context to reflect on similar developments in England and Wales since 1996 which have…

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Abstract

Purpose

The purpose of this paper is to use the notion of “casualisation” in an employment context to reflect on similar developments in England and Wales since 1996 which have combined to undermine security of tenure in the private and social rented sectors and exposed the vulnerability of owner occupiers who default on mortgage repayments.

Design/methodology/approach

The paper draws on observations made by commentators in housing and social policy as well as official papers, statutes and cases.

Findings

The problems posed for the long‐term security of residential occupiers are highlighted and are shown to result from a combination of factors including the deregulation of the private rented sector, the dependency of housing association on their rental streams, governmental preoccupation with anti‐social behaviour in social housing and the principle that mortgage lenders have the right to possession of the mortgaged property.

Originality/value

The notion of casualisation is used as an analytical tool to assess changes in law and policy, and to suggest possibilities for reform.

Details

International Journal of Law in the Built Environment, vol. 1 no. 1
Type: Research Article
DOI: https://doi.org/10.1108/17561450910950241
ISSN: 1756-1450

Keywords

  • Housing
  • Legislation
  • Mortgage default
  • England
  • Wales

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Article
Publication date: 20 April 2010

Anti‐social behaviour law and policy in the United Kingdom: Assessing the impact of enforcement action in the management of social housing

Simon Hoffman, Peter K. Mackie and John Pritchard

The purpose of this paper is to investigate the impact of enforcement action on individuals and families living in social housing as a mode of intervention for dealing…

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Abstract

Purpose

The purpose of this paper is to investigate the impact of enforcement action on individuals and families living in social housing as a mode of intervention for dealing with anti‐social behaviour.

Design/methodology/approach

Relevant housing legislation and policy documents are reviewed. The paper then draws on empirical data from Shelter Cymru's case file records of households in social housing who have been subject to enforcement action following an allegation of anti‐social behaviour. Evidence obtained from other studies on housing intervention projects is used to contrast the position of the households studied with those in similar situations who have been provided with support as an alternative to enforcement action.

Findings

The legislative framework favours enforcement as a means of dealing with anti‐social behaviour. A number of remedies utilise the management role of social landlords, and the framework of housing tenure, to introduce the concept of “conditionality” into housing entitlement. This approach to the management of anti‐social behaviour compounds the social disadvantage of already vulnerable households by undermining long‐term security of tenure and thereby increasing the risk of homelessness and social exclusion. These outcomes contrast with those from studies of similar households in receipt of support within housing intervention projects which have been shown to deliver reductions in anti‐social behaviour and sustainable outcomes for families, communities, and landlords.

Social implications

The findings provide important lessons for the future direction of anti‐social behaviour policy throughout the UK and beyond. In the context of devolved polity in the UK the paper argues for the Welsh Assembly Government to take a lead in developing policies and legal responses which recognize the housing rights of marginalised groups, and for the introduction of support into social housing to counter the trend toward punitive treatment of social tenants as a response to anti‐social behaviour.

Originality/value

The unique nature of the empirical data set from Shelter Cymru's case file records provides an important insight into the social impact of anti‐social behaviour law and policy on some of the most vulnerable members of society.

Details

International Journal of Law in the Built Environment, vol. 2 no. 1
Type: Research Article
DOI: https://doi.org/10.1108/17561451011036504
ISSN: 1756-1450

Keywords

  • Social deviance
  • Law enforcement
  • Housing
  • Laws and legislation
  • Disadvantaged groups
  • Wales

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