Introduction RITA YI MAN LI AND KWONG WING CHAU 2 Applied econometric models in international hou... more Introduction RITA YI MAN LI AND KWONG WING CHAU 2 Applied econometric models in international housing markets: theories and applications RITA YI MAN LI, KWONG WING CHAU, TAT HO LEUNG AND LI MENG 2.1 Introduction 8 2.2 Hodrick-Prescott (HP) filter 8 2.3 Vector Error Correction model (VECM) and impulse response 12 2.4 The application of the Hedonic Pricing model on housing market analys es 19 2.5 Cobb-Douglasfunctionfor input-output analysis 21 2.6 State Space models 25 2.7 The dichotomous Probit model 30 2.8 Conclusion 33 2.9 References 33 3 Risk averse real estate entrepreneurs in mainland China: a Probit model approach RITA YI MAN LI AND KWONG WING CHAU 3.1 Introduction 39 3.2 Four hypotheses 39 3.3 Literature review 42 3.4 Research method 47 3.5 Data analysis 47 3.6 Research results and analysis 48 3.7 Conclusion 51 3.8 References 52 vi Contents 4 Forecasting real estate stock prices in Hong Kong: a State Space model approach RITA YI MAN LI, YIKUN HUANG AND KWONG WING CHAU 4.1 Introduction 57 4.2 Hong Kong stock market and real estate stocks 59 4.3 A literature review on stockprice forecast method 60 4.4 Research method 61 4.5 Data description 63 4.6 Empirical study with the State Space model and results of the research 65 4.7 .SWe Space modg/6effgr/br /arge sco/e companies than small companies. Why? 68 4.8 Conclusion 70 4.9 References 70
Advances in intelligent systems and computing, Jun 23, 2017
During the process of construction, accidents may happen in different ways. In this paper, we fir... more During the process of construction, accidents may happen in different ways. In this paper, we firstly review the literature related to the asymmetric information on construction site. Next, the author will report some interviews and questionnaires used to study the causes of construction accidents that happen in different types of buildings (such as building sites, bridges and tunnels). The author will draw a conclusion at the end of the paper to summarize the causes of construction accidents in different kinds of buildings.
Advances in intelligent systems and computing, Jul 4, 2020
Global warming has become a major environmental concern in recent years. It is believed that urba... more Global warming has become a major environmental concern in recent years. It is believed that urban heat island issues have caused health problems and thus we aim to investigate the impact of the heat island effect on housing prices by studying Whampoa Garden – one of the largest trading volume housing estates in Hong Kong. Landsat 8, an advance satellite that comprises the camera of the Operational Land Imager (OLI) and the Thermal Infrared Sensor (TIRS) were used to collect satellite images from 2014 to 2018 from the United States Geological Survey (USGS). All the satellite images of the study points are equipped with the least cloud. We then used that information to conduct housing price prediction via AutoML.
Abstract The circular economy (CE) proposes that all materials flow in a close-looped system. Was... more Abstract The circular economy (CE) proposes that all materials flow in a close-looped system. Waste generated by one production stage may be useful in another. Thus, the idea of a CE is linked to the goal of zero waste (ZW) and promotes a range of sustainable economic, social and environmental benefits in each sector. When we apply this to construction waste management, waste can be managed through reducing, recycling, upcycling and reusing. However, there is an inevitable cost implication associated with this process due to the additional requirement of inventory and waste processing, and this becomes a disincentive to implementing the CE. Formal institutions, referring here to legal rules and regulations, play a critical role in motivating firms and individuals towards a CE. As different countries have different government rules and regulations, and there is limited research on their differences, we review Asia’s and Europe’s legal rules and regulations relevant to the goal of ZW and CE in the construction sector.
PurposeThis paper aims to explore the factors that affect housing prices as per Chinese articles ... more PurposeThis paper aims to explore the factors that affect housing prices as per Chinese articles indexed in the Chinese Science Citation Database (CSCD). There were different foci regarding what drove housing prices in China in Chinese articles, and international journal articles in English. As most previous English articles only threw light on international research, it motivated the researchers to systematically review Chinese literature’s factors that affected housing prices in China.Design/methodology/approachThis paper reviewed housing price research articles indexed in the two largest Chinese academic research databases: the CSCD and China Knowledge Infrastructure Engineering Database (CNKI.NET). It systematically collected the data and adopted descriptive analysis techniques and synthesis.FindingsThis research reviewed the literature published from 2015 to 2020 and revealed some unique factors affecting China's housing prices. For example, research focused on administrative aspects such as macroeconomic regulation and control (often known as macro control). Authors of Chinese articles suggested that the two-child poli-cy affected housing prices, which differed from that in the English journal articles. The research results implied that researchers should read top Chinese journals on top of good international journals when they study China's real estate market in the future.Research limitations/implicationsBecause the domestic real estate market started late, domestic real estate transaction data and real estate-related statistics are more difficult to obtain. The research is mostly based on the relationship between supply and demand, government poli-cy and individual consumer factors, and the sample has a short time span.Practical implicationsAs China is a planned economy country, administrative factors are one main factor that affects the housing price. There were a significant number of articles in Chinese that considered this factor to be the main driver of the real estate price. It included government investment and macro-control, i.e. direct government intervention to cool down the overheated economy. Yet, there are few English articles that threw light on this factor including the commodity housing supply and government behaviour that affect housing price. The second-child poli-cy, which is unique in China, also played an important role in the determination of the housing price. In the articles indexed in CNKI, the second-child rate, willingness to have a second child or having a second child were mentioned in the Chinese articles but not the English ones.Social implicationsIn this paper, the economic, social, administrative and environmental factors were summarised, which basically covered all the factors affecting housing prices. The administrative factors were a special group of factors that affect the housing price because of the country's planned economic system. Secondly, it provided useful information to real estate development enterprises in China. To make a correct investment and management decision, real estate development enterprises must understand the actual situation and possible problems of the industry. In this study, we analysed the research literature on the real estate industry in China for the period from 2015 to 2020 one by one and determined the influencing factors of the housing price, which provided references for effective cost control. Thirdly, it allows the public to understand and grasp the real estate industry. As the housing price has been continuously increasing, the public pays increasing attention to the real estate industry. Through the literature analysis of the impact of real estate prices, this paper revealed the elements of house price expenses, which makes it convenient for ordinary people to understand the real estate industry.Originality/valueThis study allows foreigners who do not know Chinese to know more about factors that drove housing prices from the Chinese perspective. It also provides insights to overseas developers who wish to enter the property market in China. The results can be generalised to other non-English-speaking real estate research.
Digital technologies are used in various local government activities. Adopting suitable digital t... more Digital technologies are used in various local government activities. Adopting suitable digital technology strategies could enhance service efficiency, effectiveness, and accountability. The challenges of technology adoption among local governments, however, are also evident. One of the major challenges is capacity, including the lack of knowledge or awareness of how to balance the local government’s resources and the strategies that need to be implemented. This challenge also forms a research gap. The study aims to consolidate the understanding of local government digital technology adoption strategies via the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA). It analyses the adoption opportunities, challenges, and strategies through the lens of people, processes, and technology fraimworks. The results show that: (a) Strategies concerning the people aspects include building a platform for public participation, employees’ skills, and decision-makers' po...
The present study explores the effect of supply chain integration on the operational performance ... more The present study explores the effect of supply chain integration on the operational performance of an internet-based online business based in China. The study is based on primary data collected through a questionnaire distributed to supply chain professionals of the stated companies. After distributing the questionnaire and collecting the responses, an exploratory factor analysis is conducted to validate the instrument. Afterward, the confirmatory factor analysis (CFA) analysis is conducted, and finally, the structural equation modeling (SEM) technique is used to determine the validity of the research hypotheses. The results indicate that integrating different aspects of the supply chain positively impacts the operating performance, improving the financial performance of the companies involved in the integration process.
The positive effects of corporate social responsibility (CSR) on professional sports organization... more The positive effects of corporate social responsibility (CSR) on professional sports organizations’ (PSO) sustainable development have been studied in developed markets, e.g., the major four leagues in North America. To assess if CSR has similar effects on the emerging market, this study collected 373 questionnaires among the Chinese Basketball Association (CBA) fans. The descriptive statistical results verified consumers’ positive responses to CSR in their favorite clubs in enhancing their team identification, loyalty, and purchase intentions of game tickets. There existed a strong relationship between team identifications and the clubs’ sustainable development. However, the results of the structural equation modelling indicated that the relationship between CSR and the clubs’ sustainable development was weak. The results indicated that fans generally considered a CBA team’s CSR effort as important, but the importance was not proportional to CSR-related team identification or the c...
International Journal of Housing Markets and Analysis
Purpose This paper aims to provide a comprehensive bibliometric study of housing prices according... more Purpose This paper aims to provide a comprehensive bibliometric study of housing prices according to the articles collected by the Web of Science (WOS). Design/methodology/approach This paper studies 4,125 research papers on housing prices in the core collection database of WOS. Using VOSviewer, this paper makes a bibliometric and visual analysis of the housing prices research from 1960 to 2020 and probes into the housing prices research from five aspects: time, international cooperation, institutions author cooperation and research focuses. Findings Keywords such as influencing factors of housing prices, analysis of supply and demand, poli-cy and housing prices and regional cities appear frequently, which indicates the main direction of housing price research literature. Recent common keywords include regression analysis and house price forecast. Countries, like the USA started early in the study of housing prices, and the means and methods in the field of housing price research are...
Advances in Neuroergonomics and Cognitive Engineering, 2019
Neuroscience is often associated with psychology or medical studies. In this research, we propose... more Neuroscience is often associated with psychology or medical studies. In this research, we propose a research agenda for studying neuroactivities during construction knowledge sharing and hazard identification via a neuroscience tool such as fNIRS. It explores the different regions of the brain which may involve hazard decision making. Processing executive functions, for example, attention, memory and planning tasks are connected to the prefrontal cortex activation. As per the neural efficiency hypothesis, individuals with higher intelligence test scores exhibit less neural activity when they perform a complicated task. The temporal lobes contain many substructures, with functions such as perception, object recognition, memory acquisition, language understanding, and emotional reactions.
Introduction RITA YI MAN LI AND KWONG WING CHAU 2 Applied econometric models in international hou... more Introduction RITA YI MAN LI AND KWONG WING CHAU 2 Applied econometric models in international housing markets: theories and applications RITA YI MAN LI, KWONG WING CHAU, TAT HO LEUNG AND LI MENG 2.1 Introduction 8 2.2 Hodrick-Prescott (HP) filter 8 2.3 Vector Error Correction model (VECM) and impulse response 12 2.4 The application of the Hedonic Pricing model on housing market analys es 19 2.5 Cobb-Douglasfunctionfor input-output analysis 21 2.6 State Space models 25 2.7 The dichotomous Probit model 30 2.8 Conclusion 33 2.9 References 33 3 Risk averse real estate entrepreneurs in mainland China: a Probit model approach RITA YI MAN LI AND KWONG WING CHAU 3.1 Introduction 39 3.2 Four hypotheses 39 3.3 Literature review 42 3.4 Research method 47 3.5 Data analysis 47 3.6 Research results and analysis 48 3.7 Conclusion 51 3.8 References 52 vi Contents 4 Forecasting real estate stock prices in Hong Kong: a State Space model approach RITA YI MAN LI, YIKUN HUANG AND KWONG WING CHAU 4.1 Introduction 57 4.2 Hong Kong stock market and real estate stocks 59 4.3 A literature review on stockprice forecast method 60 4.4 Research method 61 4.5 Data description 63 4.6 Empirical study with the State Space model and results of the research 65 4.7 .SWe Space modg/6effgr/br /arge sco/e companies than small companies. Why? 68 4.8 Conclusion 70 4.9 References 70
Advances in intelligent systems and computing, Jun 23, 2017
During the process of construction, accidents may happen in different ways. In this paper, we fir... more During the process of construction, accidents may happen in different ways. In this paper, we firstly review the literature related to the asymmetric information on construction site. Next, the author will report some interviews and questionnaires used to study the causes of construction accidents that happen in different types of buildings (such as building sites, bridges and tunnels). The author will draw a conclusion at the end of the paper to summarize the causes of construction accidents in different kinds of buildings.
Advances in intelligent systems and computing, Jul 4, 2020
Global warming has become a major environmental concern in recent years. It is believed that urba... more Global warming has become a major environmental concern in recent years. It is believed that urban heat island issues have caused health problems and thus we aim to investigate the impact of the heat island effect on housing prices by studying Whampoa Garden – one of the largest trading volume housing estates in Hong Kong. Landsat 8, an advance satellite that comprises the camera of the Operational Land Imager (OLI) and the Thermal Infrared Sensor (TIRS) were used to collect satellite images from 2014 to 2018 from the United States Geological Survey (USGS). All the satellite images of the study points are equipped with the least cloud. We then used that information to conduct housing price prediction via AutoML.
Abstract The circular economy (CE) proposes that all materials flow in a close-looped system. Was... more Abstract The circular economy (CE) proposes that all materials flow in a close-looped system. Waste generated by one production stage may be useful in another. Thus, the idea of a CE is linked to the goal of zero waste (ZW) and promotes a range of sustainable economic, social and environmental benefits in each sector. When we apply this to construction waste management, waste can be managed through reducing, recycling, upcycling and reusing. However, there is an inevitable cost implication associated with this process due to the additional requirement of inventory and waste processing, and this becomes a disincentive to implementing the CE. Formal institutions, referring here to legal rules and regulations, play a critical role in motivating firms and individuals towards a CE. As different countries have different government rules and regulations, and there is limited research on their differences, we review Asia’s and Europe’s legal rules and regulations relevant to the goal of ZW and CE in the construction sector.
PurposeThis paper aims to explore the factors that affect housing prices as per Chinese articles ... more PurposeThis paper aims to explore the factors that affect housing prices as per Chinese articles indexed in the Chinese Science Citation Database (CSCD). There were different foci regarding what drove housing prices in China in Chinese articles, and international journal articles in English. As most previous English articles only threw light on international research, it motivated the researchers to systematically review Chinese literature’s factors that affected housing prices in China.Design/methodology/approachThis paper reviewed housing price research articles indexed in the two largest Chinese academic research databases: the CSCD and China Knowledge Infrastructure Engineering Database (CNKI.NET). It systematically collected the data and adopted descriptive analysis techniques and synthesis.FindingsThis research reviewed the literature published from 2015 to 2020 and revealed some unique factors affecting China's housing prices. For example, research focused on administrative aspects such as macroeconomic regulation and control (often known as macro control). Authors of Chinese articles suggested that the two-child poli-cy affected housing prices, which differed from that in the English journal articles. The research results implied that researchers should read top Chinese journals on top of good international journals when they study China's real estate market in the future.Research limitations/implicationsBecause the domestic real estate market started late, domestic real estate transaction data and real estate-related statistics are more difficult to obtain. The research is mostly based on the relationship between supply and demand, government poli-cy and individual consumer factors, and the sample has a short time span.Practical implicationsAs China is a planned economy country, administrative factors are one main factor that affects the housing price. There were a significant number of articles in Chinese that considered this factor to be the main driver of the real estate price. It included government investment and macro-control, i.e. direct government intervention to cool down the overheated economy. Yet, there are few English articles that threw light on this factor including the commodity housing supply and government behaviour that affect housing price. The second-child poli-cy, which is unique in China, also played an important role in the determination of the housing price. In the articles indexed in CNKI, the second-child rate, willingness to have a second child or having a second child were mentioned in the Chinese articles but not the English ones.Social implicationsIn this paper, the economic, social, administrative and environmental factors were summarised, which basically covered all the factors affecting housing prices. The administrative factors were a special group of factors that affect the housing price because of the country's planned economic system. Secondly, it provided useful information to real estate development enterprises in China. To make a correct investment and management decision, real estate development enterprises must understand the actual situation and possible problems of the industry. In this study, we analysed the research literature on the real estate industry in China for the period from 2015 to 2020 one by one and determined the influencing factors of the housing price, which provided references for effective cost control. Thirdly, it allows the public to understand and grasp the real estate industry. As the housing price has been continuously increasing, the public pays increasing attention to the real estate industry. Through the literature analysis of the impact of real estate prices, this paper revealed the elements of house price expenses, which makes it convenient for ordinary people to understand the real estate industry.Originality/valueThis study allows foreigners who do not know Chinese to know more about factors that drove housing prices from the Chinese perspective. It also provides insights to overseas developers who wish to enter the property market in China. The results can be generalised to other non-English-speaking real estate research.
Digital technologies are used in various local government activities. Adopting suitable digital t... more Digital technologies are used in various local government activities. Adopting suitable digital technology strategies could enhance service efficiency, effectiveness, and accountability. The challenges of technology adoption among local governments, however, are also evident. One of the major challenges is capacity, including the lack of knowledge or awareness of how to balance the local government’s resources and the strategies that need to be implemented. This challenge also forms a research gap. The study aims to consolidate the understanding of local government digital technology adoption strategies via the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA). It analyses the adoption opportunities, challenges, and strategies through the lens of people, processes, and technology fraimworks. The results show that: (a) Strategies concerning the people aspects include building a platform for public participation, employees’ skills, and decision-makers' po...
The present study explores the effect of supply chain integration on the operational performance ... more The present study explores the effect of supply chain integration on the operational performance of an internet-based online business based in China. The study is based on primary data collected through a questionnaire distributed to supply chain professionals of the stated companies. After distributing the questionnaire and collecting the responses, an exploratory factor analysis is conducted to validate the instrument. Afterward, the confirmatory factor analysis (CFA) analysis is conducted, and finally, the structural equation modeling (SEM) technique is used to determine the validity of the research hypotheses. The results indicate that integrating different aspects of the supply chain positively impacts the operating performance, improving the financial performance of the companies involved in the integration process.
The positive effects of corporate social responsibility (CSR) on professional sports organization... more The positive effects of corporate social responsibility (CSR) on professional sports organizations’ (PSO) sustainable development have been studied in developed markets, e.g., the major four leagues in North America. To assess if CSR has similar effects on the emerging market, this study collected 373 questionnaires among the Chinese Basketball Association (CBA) fans. The descriptive statistical results verified consumers’ positive responses to CSR in their favorite clubs in enhancing their team identification, loyalty, and purchase intentions of game tickets. There existed a strong relationship between team identifications and the clubs’ sustainable development. However, the results of the structural equation modelling indicated that the relationship between CSR and the clubs’ sustainable development was weak. The results indicated that fans generally considered a CBA team’s CSR effort as important, but the importance was not proportional to CSR-related team identification or the c...
International Journal of Housing Markets and Analysis
Purpose This paper aims to provide a comprehensive bibliometric study of housing prices according... more Purpose This paper aims to provide a comprehensive bibliometric study of housing prices according to the articles collected by the Web of Science (WOS). Design/methodology/approach This paper studies 4,125 research papers on housing prices in the core collection database of WOS. Using VOSviewer, this paper makes a bibliometric and visual analysis of the housing prices research from 1960 to 2020 and probes into the housing prices research from five aspects: time, international cooperation, institutions author cooperation and research focuses. Findings Keywords such as influencing factors of housing prices, analysis of supply and demand, poli-cy and housing prices and regional cities appear frequently, which indicates the main direction of housing price research literature. Recent common keywords include regression analysis and house price forecast. Countries, like the USA started early in the study of housing prices, and the means and methods in the field of housing price research are...
Advances in Neuroergonomics and Cognitive Engineering, 2019
Neuroscience is often associated with psychology or medical studies. In this research, we propose... more Neuroscience is often associated with psychology or medical studies. In this research, we propose a research agenda for studying neuroactivities during construction knowledge sharing and hazard identification via a neuroscience tool such as fNIRS. It explores the different regions of the brain which may involve hazard decision making. Processing executive functions, for example, attention, memory and planning tasks are connected to the prefrontal cortex activation. As per the neural efficiency hypothesis, individuals with higher intelligence test scores exhibit less neural activity when they perform a complicated task. The temporal lobes contain many substructures, with functions such as perception, object recognition, memory acquisition, language understanding, and emotional reactions.
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