An Empirical Study of the Impact of Income Uncertainty on Private Residential Property Markets in Singapore and Hong Kong

2005 ◽  
Vol 20 (5) ◽  
pp. 753-769
Author(s):  
C. Y. Yiu ◽  
C. M. Hui
Keyword(s):  
Hong Kong ◽  
Empirical Study ◽  
Residential Property ◽  
Income Uncertainty ◽  
The Impact ◽  
Property Markets

scholarly journals DETERMINANTS OF BANKS’ BOTTOM LINE: EVIDENCE FROM BENCHMARKING MALAYSIAN AND HONG KONG BANK

2017 ◽  
Vol 16 (1) ◽  
Author(s):  
Michael Tinggi ◽  
Shaharudin Jakpar ◽  
Ling Ling
Keyword(s):  
Hong Kong ◽  
Panel Data ◽  
Empirical Study ◽  
Capital Structure ◽  
Banking Sector ◽  
Strong Impact ◽  
Bottom Line ◽  
Managerial Efficiency ◽  
The World ◽  
The Impact

The aftermath of 1997/1998 Asian-financial meltdown, witnessed a significant restructuring of banking sector, resulting in fewer but bigger conglomeration of banks in Malaysia. Banks are now challenged to raise profit to another level in order to be more resilient against any future financial onslaught. The need to learn from some of the world best banks should be explored. This empirical study therefore attempts to benchmark the determinants of banks’ bottom line in Malaysia vis-à-vis attributes affecting viability of the same industry in Hong Kong. The domain of the study involves gauging the impact of firm’s size, capital structure, liquidity, managerial efficiency, loans’ size on bottom line enjoyed by banking sector in Malaysia and Hong Kong. The panel data are extracted from the 11 major banks, operating from each country in Malaysia and Hong Kong for period 2002 to 2011. The fixed effect panel found that, bank size, capital structure and loans to customers have strong impact on bank bottom line in Malaysia. In contrast, managerial efficiency improves profit margin in Hong Kong banking sector.Keywords: Banking Sector; Benchmarking; Bottom Line Determinants.

scholarly journals The impact of undesirable externalities on residential property values: spatial regressive models and an empirical study

2019 ◽  
Vol 80 ◽  
pp. 177-187 ◽  
Author(s):  
Ruben Cordera ◽  
Vincenza Chiarazzo ◽  
Michele Ottomanelli ◽  
Luigi dell’Olio ◽  
Angel Ibeas
Keyword(s):  
Empirical Study ◽  
Property Values ◽  
Residential Property ◽  
Residential Property Values ◽  
The Impact

scholarly journals Estimating Residential Property Values on the Basis of Clustering and Geostatistics

Geosciences ◽  
2019 ◽  
Vol 9 (3) ◽  
pp. 143 ◽  
Author(s):  
Beata Calka
Keyword(s):  
Estimation Error ◽  
Local Property ◽  
Percentage Error ◽  
Residential Property ◽  
Property Value ◽  
Second Stage ◽  
Spatial Factor ◽  
Using Data ◽  
The Impact ◽  
Property Markets

The article presents a two-stage model for estimating the value of residential property. The research is based on the application of a sequence of known methods in the process of developing property value maps. The market is divided into local submarkets using data mining, and, in particular, data clustering. This process takes into account only a property’s non-spatial (structural) attributes. This is the first stage of the model, which isolates local property markets where properties have similar structural attributes. To estimate the impact of the spatial factor (location) on property value, the second stage involves performing an interpolation for each cluster separately using ordinary kriging. In this stage, the model is based on Tobler’s first law of geography. The model results in property value maps, drawn up separately for each of the clusters. Experimental research carried out using the example of Siedlce, a city in eastern Poland, proves that the estimation error for a property’s value using the proposed method, evaluated using the mean absolute percentage error, does not exceed 10%. The model that has been developed is universal and can be used to estimate the value of land, property, and buildings.

scholarly journals International Real Estate Review

1998 ◽  
Vol 1 (1) ◽  
pp. 45-63
Author(s):  
Edward Ng ◽  
Keyword(s):  
High Rate ◽  
High Price ◽  
Residential Property ◽  
Price Setting ◽  
Economic Determinants ◽  
Price Response ◽  
Natural Choice ◽  
High Price Level ◽  
The Impact ◽  
Property Markets

Prices in the Asian residential property markets have skyrocketed over the past decade. A high rate of economic growth is one of the major reasons for the price spiral. Most Asian residential property markets are, however, concentrated and national in nature. Maintaining an artificially high price level through coordination amongst producers is not impossible and would be the natural choice of oligopolistic behavior (Scherer and Ross, 1990). This study examines price responses to changes in economic determinants in Singapore. The focus is on supply. Cointegration and error-correction techniques are employed to test if upward and downward adjustment speeds are similar. The results verify the impact of GDP growth, but also show that price response to the supply of housing units is significantly downward rigid. This is not inconsistent with the hypothesis of collusive price setting by property developers.

Residential property price-stock price nexus in Hong Kong: new evidence from ARDL bounds test

2017 ◽  
Vol 10 (2) ◽  
pp. 204-220 ◽  
Author(s):  
Koon Nam Henry Lee
Keyword(s):  
Hong Kong ◽  
Stock Price ◽  
Ordinary Least Squares ◽  
Residential Property ◽  
Sample Period ◽  
Causality Test ◽  
Content Type ◽  
Cointegration Tests ◽  
Property Price ◽  
Property Markets

Purpose This study aims to investigate the cointegration and causality relationships between Hong Kong’s residential property price and stock price, using quarterly data, from the 1st quarter of 1980 to the 3rd quarter of 2015. Design/methodology/approach In contrast to other studies, the cointegration test used is the autoregressive distributed lag (ARDL) cointegration (bounds testing) approach of Pesaran et al. (2001) that based on the estimation of an unrestricted error correction model and the causality test is based on non-causality test of Granger et al. (2000). Moreover, this research employs recursive least square procedures and Chow (1960) breakpoint test to detect unknown structural break and variation of relationships between residential property and stock price over the whole sample period. Findings The results of ARDL cointegration tests running from stock to residential property markets provide strong evidence to support the hypothesis that the stock and residential properties are cointegrated. The results of Granger et al. (2000) non-causality test support the view of wealth effect that stock price has an important causal effect on residential property price in Hong Kong but not vice versa. In addition, the results of recursive ordinary least squares coefficients estimates and Chow (1960) test (breakpoint test) for structural instability confirm the variation of the relationships between stock and residential property markets over the sample period. Research limitations/implications The empirical results from cointegration and causality tests suggest that the residential asset returns are better predicted by including the lagged difference values of stock price. Originality/value This is the pioneering study to examine the cointegration and causality study of stock and residential property price in Hong Kong by employing Pesaran ARDL cointegration approach and Granger non-causality approach. Investors are able to perform an effective evaluation to assist in allocating investment funds, and the government bodies can implement supplement housing policy in response to the public needs.

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