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The purpose of this study is to investigate the Granger causal link between the stock market index and housing prices in terms of apartment and villa prices.

Monthly data from September 2005 to October 2013 on apartment prices, villa prices, the stock market index, mortgage rates and the consumer price index were used. Statistical methods were applied to explore the long-run co-integration and Granger causal link between the stock market index and apartment and villa prices in Sweden.

The results indicate that the stock market index and housing prices are co-integrated and that a long-run equilibrium relationship exists between them. According to the Granger causality tests, bidirectional relationships exist between the stock market index and apartment and villa prices, respectively, supporting the wealth and credit-price effects. Moreover, variations in apartment and villa prices are primarily caused by endogenous shocks.

To the authors’ best knowledge, this study represents a first analysis of the causal nexus between the stock market and the housing market in terms of apartment and villa prices in the Swedish context using a vector error-correction model to analyze monthly data.

The purpose of this study is to investigate the Granger causal link between bank lending and housing prices.

Several econometric methods, including Granger causality tests based on a vector error correction model, were applied to analyse monthly time series data in the Swedish context. The data cover bank lending, apartment prices, villa prices, mortgage rates and the consumer price index from September 2005 to October 2013.

The results indicate that bank lending and housing prices are cointegrated. According to Granger causality tests, bidirectional relationships exist between bank lending and each of apartment and villa prices, confirming the financial accelerator mechanism. However, earlier shocks arising from housing prices themselves account for the greatest variation in future prices.

To the authors’ knowledge, this study represents the first analysis of the causal link between bank lending and the housing market in terms of apartment and villa prices in the Swedish context.

Since 2005, Belgian housing prices have strongly increased. As the timing coincides with the implementation of a new fiscal package in order to stimulate homeownership, our study attempts to provide an understanding whether the mortgage interest and capital deduction (MICPD) policy has had the side-effect of increasing housing prices while, at the same time, controlling for key housing price determinants.

A fixed-effects regression model is used on a panel dataset of the three Belgian regions over the period 1995–2015.

Estimations are carried out separately for different house types, being useful as our empirical analysis ascertains a significant price-increasing effect for ordinary houses and apartments but a significant price-reducing effect for villas. In addition, we find, among other things, that interest rates' influence has been less substantial than commonly thought.

These results are relevant for all governments willing to stimulate homeownership through fiscal stimuli.

Hospitality and Tourism.

Senior undergraduate level and graduate level.

This case study charts out the development of a business plan for Ch’ulel Mendoza, a hypothetical all-villa resort nestled against the Andes Mountains, where guests enjoy luxurious wine-infused spa treatments. The business plan has to be comprehensive because it should become the basis of a turnkey project for potential investors. Ch’ulel Mendoza is surrounded by the lush vineyards of some of the most famous wine estates in Argentina. The spa, facilities and services pay homage to the wine-growing heritage of the region, promoting wine to its guests as both pleasurable for consumption and conducive to healthy living. The architectural design speaks directly to the vines themselves: the earth-covered spa is where guests soak up the healing nutrients in the vinotherapy and water treatments, much like the roots are nourished by the elements and water in the soil; the resort area embraces the outdoors with decks, open patios and pools where guests can bask in the sun and enjoy other natural elements, just like the grape plants themselves. Once it becomes operational, Ch’ulel Mendoza will symbolize a blend of wellness, recreation and the charm of the Latin American culture.

Develop a comprehensive business plan for a new business, understand the business environment, prepare a strengths, weaknesses, opportunities and weaknesses analysis, develop functional (marketing, finance, human resources, operations, etc.) plans and understand the opportunities and challenges in the new product development process.

CSS: 12: Tourism and Hospitality.

The purpose of this study is to identify the preferred characteristics of buyers of single-family homes in Saudi Arabia with an emphasis on the city of Dammam.

Data were collected using face-to-face structured interviews conducted from November 2016 to May 2017 with 177 owners of single-family homes that were purchased between 2010 and the first quarter of 2017.

The findings indicate that homes can be divided into three types: villas, detached duplexes and semi-detached duplexes. Also, more than three-quarters of the respondents purchased their homes through mortgages from either lenders or the government. It seems we find that the advantages of the detached duplex, particularly its privacy level, over other types of single-family homes induce homebuyers to choose this home type.

In this study, the authors analyze housing preferences among various segments of the Saudi society, in the city of Dammam, to understand the housing supply in Saudi Arabia. Only a few studies have investigated the preferences of homebuyers in Saudi Arabia. Below the authors provide a literature review, discuss data and methods and results, as well as provide concluding remarks.

This paper is a case study of the use of information systems (IS) by a micro enterprise. In particular, it attempts to answer the question: can micro enterprises use IS strategically? It examines the distinguishing characteristics of micro enterprises and the use of IS in micro enterprises. It gives a brief history and description of the micro enterprise in question (Lanzarote First) and then analyses the use of IS from two angles: functionality and benefits. Importantly, the strategic benefits of the various IS are differentiated from other efficiency and effectiveness benefits. The case also tests the use of an IS planning methodology. The case illustrates that a micro enterprise can use IS strategically and, because of the absence of certain factors which are present in large organisations, the impact of IS may be even greater.

The purpose of this study is to analyze the problem of optimal product line design in marketing channels.

This paper develops a game theoretic model, in which a firm markets a line of a limited number of products at different quality levels to serve a market composed of multiple consumer segments. The consumer segments are modeled as clusters of somewhat heterogeneous consumers as typically observed in the real world. These model characteristics allow us to consider a broader set of targeting strategies such as sub-segmentation and partial cannibalization which have not been considered previously. By considering both a vertically integrated channel and a decentralized channel, we investigate how channel structure influences optimal product line design. We analyze the model mathematically with supplemental numerical analyses.

Our analysis shows that “quality distortion” in product line design is not limited to the low-end product, as previously reported, but can happen to the high-end product. The direction of these quality distortions may be downward or upward, leading to either increased or decreased differentiation between the two products. Furthermore, channel decentralization makes it more likely for the firm to strategically choose upward partial cannibalization or sub-segmentation. Consequently, contrary to previous studies, we demonstrate that there exist conditions under which channel decentralization leads to higher product quality.

Our model reflects a more realistic market environment and a firm’s practical constraints than previous studies, which typically assume perfect homogeneity within each segment and/or the feasibility of offering an infinite number of products. This extension produces interesting new results and insights that provide more practical implications for a firm’s optimal product line design strategy.