A Study on the Determinants of the Retail Property Bid Price Ratio in Seoul City

2021 ◽  
Vol 23 ◽  
pp. 287-306
Author(s):  
Chang-Gook Shin ◽  
◽  
Hae-Jung Chun
Keyword(s):  
Price Ratio ◽  
Bid Price ◽  
Retail Property

Bidding competitiveness: a comparative analysis of different bid auctions in Malaysia

2016 ◽  
Vol 14 (4) ◽  
pp. 678-698 ◽  
Author(s):  
Mohd Azrai Azman
Keyword(s):  
Probability Distributions ◽  
Winning Strategy ◽  
Economic Consequences ◽  
Least Square ◽  
Public Works ◽  
Price Ratio ◽  
Content Type ◽  
Bid Price ◽  
Auction Mechanisms ◽  
Bid Prices

Purpose This research aims to contrast bid competitiveness with respect to the average bid auction (ABA) and the non-ABA bidding formats used by the Public Works Department (PWD) of Malaysia. Design/methodology/approach The research uses the ordinary least square regression and the Monte–Carlo simulation to point out significant predictors which affect the bid ratio and fitting probability distributions to bidding data, respectively. Findings This research shows that the bidding strategy adopted is dependent on the different formats used. In the ABA format, bidders are more likely to submit identical bid prices. In the non-ABA format, they bid according to the first-price auction strategy, which suggests greater variation between bid prices as a winning strategy and the reduction in the bid price to an estimated price ratio when more bidders bid. Practical implications Bidders lose more money when the distance between the project location and a firm’s operational office is greater. Best-fit probability density functions follow a gamma distribution for the ABA format and a Weibull distribution for the non-ABA format. The location and number of bidders affect bidders’ strategy to win. Originality/value This research presents empirical insights concerning the comparisons of different type of bidding formats practiced by PWD of Malaysia and its implications on the construction companies’ bidding behaviors especially when it comes to its economic consequences. The significant factors that affect the different auction mechanisms used can serve as a basis for improving the present methods employed by PWD and in other countries.

Intersectoral Terms of Trade for Pakistan's Economy: 1970-71 - 1981-82

1987 ◽  
Vol 26 (1) ◽  
pp. 81-105
Author(s):  
Shahnaz Kazi
Keyword(s):  
Terms Of Trade ◽  
Relative Price ◽  
Price Ratio ◽  
Sectoral Output ◽  
The Relationship

The paper estimates intersectoral terms of trade for the period from 1970-71 to 1981-82. On the basis of these results the study further analyses the relationship between terms of trade and aggregate farm output over the period. The findings indicate some improvement in agriculture's terms of trade over the Seventies. However, no conclusive support is provided to the hypothesis of high supply responsiveness of aggregate farm output to shifts in the relative price ratio of sectoral output.

GLOBAL FINANCIAL CRISIS: THE BUBBLE EFFECT IN INDONESIA

2018 ◽  
pp. 27-33
Author(s):  
Mohammad Benny Alexandri ◽  
Raeny Dwisanti
Keyword(s):  
Financial Crisis ◽  
Stock Price ◽  
Price Index ◽  
Global Financial Crisis ◽  
Price Ratio ◽  
Sharp Decline ◽  
Book Value ◽  
The Us ◽  
Investment Opportunities ◽  
Us Financial Crisis

US and Indonesia stock markets are entering record heights without being offset by economic growthand profitability growth of their traded companies. There are several indicators for the stock marketbubble: (1) Price Ratio (Ear Ratio); (2) Price Ratio / Book (PB Ratio), the latter comparing thenominal price of one share at a market with the book value (the value of company's assets). Thecurrent PB ratio of the composite stock price index being 3.3 means that for each shares the assetvalue of which is 1 IDR, the stock would be worth 3.3 IDR. This is one of the most expensive price in the world today. Based on the above, for Indonesian stock market sharp decline is just a matter of time and waiting. This decline will be much sharper if triggered by the US financial crisis. We can also also see a bubble emerging from increasingly irrational investment attitudes. Currently, in addition to high prices for stocks and bonds, investors have started looking at investment opportunities in digital currencies. This research tries to know the potential of financial crisis and itseffect for the financial market in Indonesia. 

scholarly journals Does the Lowest Bid Price Evaluation Criterion Make for a More Efficient Public Procurement Selection Criterion? (Case of the Czech Republic)

2015 ◽  
Vol 8 (1) ◽  
pp. 41-59 ◽  
Author(s):  
František Ochrana ◽  
Kristýna Hrnčířová
Keyword(s):  
Czech Republic ◽  
Public Procurement ◽  
Selection Criterion ◽  
Radical Change ◽  
Evaluation Criterion ◽  
The Czech Republic ◽  
Service Contracts ◽  
Bid Price ◽  
Public Contracts ◽  
Public Contract

Abstract Through the institute of public procurement a considerable volume of financial resources is allocated. It is therefore in the interest of contracting entities to seek ways of how to achieve an efficient allocation of resources. Some public contract-awarding entities, along with some public-administration authorities in the Czech Republic, believe that the use of a single evaluation criterion (the lowest bid price) results in a more efficient tender for a public contract. It was found that contracting entities in the Czech Republic strongly prefer to use the lowest bid price criterion. Within the examined sample, 86.5 % of public procurements were evaluated this way. The analysis of the examined sample of public contracts proved that the choice of an evaluation criterion, even the preference of the lowest bid price criterion, does not have any obvious impact on the final cost of a public contract. The study concludes that it is inappropriate to prefer the criterion of the lowest bid price within the evaluation of public contracts that are characterised by their complexity (including public contracts for construction works and public service contracts). The findings of the Supreme Audit Office related to the inspection of public contracts indicate that when using the lowest bid price as an evaluation criterion, a public contract may indeed be tendered with the lowest bid price, but not necessarily the best offer in terms of supplied quality. It is therefore not appropriate to use the lowest bid price evaluation criterion to such an extent for the purpose of evaluating work and services. Any improvement to this situation requires a corresponding amendment to the Law on Public Contracts and mainly a radical change in the attitude of the Office for the Protection of Competition towards proposed changes, as indicated within the conclusions and recommendations proposed by this study.

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