Pub Date : 2016-01-02DOI: 10.1080/14445921.2016.1161870
G. Warren-Myers, C. Heywood
Abstract Current sustainability approaches in the residential property sector for new home construction are deficient, yet crucial in reducing reliance on finite resources whilst providing better social outcomes. At present, efforts to improve dwelling sustainability are inhibited: as sustainability is considered an overly expensive additional extra; there is poor implementation of energy efficiency regulations; un-empowered consumers are unable to demand sustainability and consumers distrust the suppliers of sustainable initiatives. This research addresses an important issue to eliminate the “blame game” and transform the sustainability conversation, adoption and value in new home markets. It adopts an innovative demand-side approach to the residential property sector, in order to target large-scale standardised new home producers as the pivotal, demand-side player in mainstreaming sustainable solutions in new housing. By examining the sector from this new perspective, sustainability can be mainstreamed in the new housing property sector overcoming current inhibitors to sustainability adoption and implementation.
{"title":"Investigating demand-side stakeholders’ ability to mainstream sustainability in residential property","authors":"G. Warren-Myers, C. Heywood","doi":"10.1080/14445921.2016.1161870","DOIUrl":"https://doi.org/10.1080/14445921.2016.1161870","url":null,"abstract":"Abstract Current sustainability approaches in the residential property sector for new home construction are deficient, yet crucial in reducing reliance on finite resources whilst providing better social outcomes. At present, efforts to improve dwelling sustainability are inhibited: as sustainability is considered an overly expensive additional extra; there is poor implementation of energy efficiency regulations; un-empowered consumers are unable to demand sustainability and consumers distrust the suppliers of sustainable initiatives. This research addresses an important issue to eliminate the “blame game” and transform the sustainability conversation, adoption and value in new home markets. It adopts an innovative demand-side approach to the residential property sector, in order to target large-scale standardised new home producers as the pivotal, demand-side player in mainstreaming sustainable solutions in new housing. By examining the sector from this new perspective, sustainability can be mainstreamed in the new housing property sector overcoming current inhibitors to sustainability adoption and implementation.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14445921.2016.1161870","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59768463","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-02DOI: 10.1080/14445921.2016.1161869
Haotian Wu, R. Crawford, G. Warren-Myers, M. Dave, Masa Noguchi
Abstract This paper explores a new perspective towards understanding barriers to ascertaining the economic value of low-energy housing. It examines why the economic value of low-energy housing is less transparent in active markets; this is investigated from the valuation principle perspectives of embodied energy and operational energy in residential dwellings. The focus is placed on the composition of energy consumption associated with the housing product life cycle. Low operational energy of a dwelling is linked to consumer preference by the inter-temporal value estimate of expected benefits. However, “low” embodied energy housing is an ecological construct and does not appear to be directly linked to short-term market value or an expected (intuitive) economic motive. This “gap/disconnect”, alongside some practical “barriers” in the market economy, has created a challenge in deriving the economic value of low-energy housing. The barrier to economic value of low-energy housing is methodological and by adopting a life cycle approach to assessing and measuring energy in a house that incorporates embodied energy and operational energy, greater clarity can be achieved which may lead to a better informed market, enhancing transparency and allowing consumer choice to direct and value the broader benefits of low-energy housing.
{"title":"The economic value of low-energy housing","authors":"Haotian Wu, R. Crawford, G. Warren-Myers, M. Dave, Masa Noguchi","doi":"10.1080/14445921.2016.1161869","DOIUrl":"https://doi.org/10.1080/14445921.2016.1161869","url":null,"abstract":"Abstract This paper explores a new perspective towards understanding barriers to ascertaining the economic value of low-energy housing. It examines why the economic value of low-energy housing is less transparent in active markets; this is investigated from the valuation principle perspectives of embodied energy and operational energy in residential dwellings. The focus is placed on the composition of energy consumption associated with the housing product life cycle. Low operational energy of a dwelling is linked to consumer preference by the inter-temporal value estimate of expected benefits. However, “low” embodied energy housing is an ecological construct and does not appear to be directly linked to short-term market value or an expected (intuitive) economic motive. This “gap/disconnect”, alongside some practical “barriers” in the market economy, has created a challenge in deriving the economic value of low-energy housing. The barrier to economic value of low-energy housing is methodological and by adopting a life cycle approach to assessing and measuring energy in a house that incorporates embodied energy and operational energy, greater clarity can be achieved which may lead to a better informed market, enhancing transparency and allowing consumer choice to direct and value the broader benefits of low-energy housing.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14445921.2016.1161869","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59768790","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-02DOI: 10.1080/14445921.2016.1168565
M. Surmann, J. Hirsch
Abstract Energy consumption in office buildings is determined partly by fixed building characteristics, but also by the behaviour of occupants. Within the European Union, office buildings have become subject to more stringent energy efficiency regulation for new construction or extensive refurbishment, with the aim to reduce energy consumption and carbon emissions. The study determines the influence of physical building characteristics and occupant behaviour on energy consumption, and in particular, the role of refurbishment in different intensities on energy consumption is investigated. The data-set of the Green Rating Alliance is tested to provide evidence, by applying multiple regression models for energy consumption. The results highlight considerably increased energy consumption of single-tenant compared to multi-tenant office buildings. Very large office buildings consume significantly more energy per square metre that their smaller peers. A building’s modelled water consumption turns out to be a good indicator for the actual energy consumption, emphasising the importance of assessing further sustainability measures. Overall, buildings of higher age turn out to be of lower energy consumption, pointing to additional appliances and equipment in more recent buildings, to provide better services and more comfort. In general, extensive refurbishment measures account for significant higher energy use, since the overall quality of the buildings is improved with additional appliances and equipment. Testing for the interaction effect between building age and refurbishment, the results demonstrate significantly lower additional energy consumption for buildings with more recent extensive refurbishment, compared to those with refurbishment several years ago. However, the results need to be considered with precaution against deriving firm conclusions due to the small sample size and some drawbacks in the applied data-set.
{"title":"Energy efficiency: behavioural effects of occupants and the role of refurbishment for European office buildings","authors":"M. Surmann, J. Hirsch","doi":"10.1080/14445921.2016.1168565","DOIUrl":"https://doi.org/10.1080/14445921.2016.1168565","url":null,"abstract":"Abstract Energy consumption in office buildings is determined partly by fixed building characteristics, but also by the behaviour of occupants. Within the European Union, office buildings have become subject to more stringent energy efficiency regulation for new construction or extensive refurbishment, with the aim to reduce energy consumption and carbon emissions. The study determines the influence of physical building characteristics and occupant behaviour on energy consumption, and in particular, the role of refurbishment in different intensities on energy consumption is investigated. The data-set of the Green Rating Alliance is tested to provide evidence, by applying multiple regression models for energy consumption. The results highlight considerably increased energy consumption of single-tenant compared to multi-tenant office buildings. Very large office buildings consume significantly more energy per square metre that their smaller peers. A building’s modelled water consumption turns out to be a good indicator for the actual energy consumption, emphasising the importance of assessing further sustainability measures. Overall, buildings of higher age turn out to be of lower energy consumption, pointing to additional appliances and equipment in more recent buildings, to provide better services and more comfort. In general, extensive refurbishment measures account for significant higher energy use, since the overall quality of the buildings is improved with additional appliances and equipment. Testing for the interaction effect between building age and refurbishment, the results demonstrate significantly lower additional energy consumption for buildings with more recent extensive refurbishment, compared to those with refurbishment several years ago. However, the results need to be considered with precaution against deriving firm conclusions due to the small sample size and some drawbacks in the applied data-set.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14445921.2016.1168565","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59768510","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-02DOI: 10.1080/14445921.2016.1182613
S. Boyd
Abstract Junior high school students are encouraged to explore their preferences as learners and engage in a range of activities to develop understanding of work, careers and post-school destinations. Higher education providers contribute to the school students’ exploration through proving campus experience programmes structured to aspire young learners and increase enrolments. This paper communicates the design science research method activities of demonstration and evaluation as they are applied to a serious game, Playing Property. Playing Property is an audience response game forming the basis of a workshop to engage junior high students and enhance their knowledge of property investment. The evaluation discusses trends in audience response decisions along with brief survey responses from 12 workshops, conducted over 3 years. The workshops were consistently rated positively by the participating students, with a majority indicating they learned more about property [investment] through playing. Comparatively the results were in line with other hands-on workshop activities facilitated by academic leaders from other disciplines. The resource allocation to the Playing Property workshop is notably less than comparable workshops and the ability capture decision-making data provides a sound basis for further analysis.
{"title":"Experiencing university through playing property","authors":"S. Boyd","doi":"10.1080/14445921.2016.1182613","DOIUrl":"https://doi.org/10.1080/14445921.2016.1182613","url":null,"abstract":"Abstract Junior high school students are encouraged to explore their preferences as learners and engage in a range of activities to develop understanding of work, careers and post-school destinations. Higher education providers contribute to the school students’ exploration through proving campus experience programmes structured to aspire young learners and increase enrolments. This paper communicates the design science research method activities of demonstration and evaluation as they are applied to a serious game, Playing Property. Playing Property is an audience response game forming the basis of a workshop to engage junior high students and enhance their knowledge of property investment. The evaluation discusses trends in audience response decisions along with brief survey responses from 12 workshops, conducted over 3 years. The workshops were consistently rated positively by the participating students, with a majority indicating they learned more about property [investment] through playing. Comparatively the results were in line with other hands-on workshop activities facilitated by academic leaders from other disciplines. The resource allocation to the Playing Property workshop is notably less than comparable workshops and the ability capture decision-making data provides a sound basis for further analysis.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14445921.2016.1182613","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59768518","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-02DOI: 10.1080/14445921.2016.1158897
H. Hamzah, Zahiriah Yahya, A. G. Sarip, Yasmin Mohd. Adnan
Abstract In the current socio-economic context of the “risk society” characterised by uncertainty and turmoil, entrepreneurship is one of the soft skills that is important among university graduates to ensure their survival in the real world. Realising that this skill can be taught and honed in professional undergraduate programmes, many universities have made entrepreneurship education a compulsory subject to improve undergraduate’s entrepreneurship skills. The discourse on entrepreneurship education programme (EEP) revealed a number of issues being discussed within conventional professional programmes such as engineering and management. Little is known about the impact of EEP on entrepreneurship intention within less popular professional programmes such as real estate. This paper provides an insight into how the compulsory entrepreneurship course impacts the entrepreneurial intentions of graduates of a real estate programme in a public university in Malaysia. Using a mixed method approach, a questionnaire survey and interview were undertaken to elicit respondents’ views about the success of the course in terms of instilling and shaping characteristics associated with entrepreneurship. Respondents were found to be less impressed with theory, and more influenced by real-life examples and experiences when emulating entrepreneurship behaviour.
{"title":"Impact of entrepreneurship education programme (EEP) on entrepreneurial intention of real estate graduates","authors":"H. Hamzah, Zahiriah Yahya, A. G. Sarip, Yasmin Mohd. Adnan","doi":"10.1080/14445921.2016.1158897","DOIUrl":"https://doi.org/10.1080/14445921.2016.1158897","url":null,"abstract":"Abstract In the current socio-economic context of the “risk society” characterised by uncertainty and turmoil, entrepreneurship is one of the soft skills that is important among university graduates to ensure their survival in the real world. Realising that this skill can be taught and honed in professional undergraduate programmes, many universities have made entrepreneurship education a compulsory subject to improve undergraduate’s entrepreneurship skills. The discourse on entrepreneurship education programme (EEP) revealed a number of issues being discussed within conventional professional programmes such as engineering and management. Little is known about the impact of EEP on entrepreneurship intention within less popular professional programmes such as real estate. This paper provides an insight into how the compulsory entrepreneurship course impacts the entrepreneurial intentions of graduates of a real estate programme in a public university in Malaysia. Using a mixed method approach, a questionnaire survey and interview were undertaken to elicit respondents’ views about the success of the course in terms of instilling and shaping characteristics associated with entrepreneurship. Respondents were found to be less impressed with theory, and more influenced by real-life examples and experiences when emulating entrepreneurship behaviour.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14445921.2016.1158897","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59768305","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-09-02DOI: 10.1080/14445921.2016.1143189
J. Sheehan, Andrew Kelly
Australian property rights exist within a sophisticated body of compensation case law and practice. To facilitate infrastructure, jurisdictions such as New South Wales must compulsorily acquire significant tracts of private land. The key factor for investigation in this paper is the prior reservation (or zoning) of such land where designated for a public purpose, which ultimately prohibits private usage. Enabling legislation for all compulsory acquisitions requires the assessment of compensation for the private land holder. Key judgements in various Australian Courts make clear that the question of an underlying zoning is a “jurisdictional fact” that triggers the agency to assess reasonable compensation.
{"title":"The underlying zoning enigma","authors":"J. Sheehan, Andrew Kelly","doi":"10.1080/14445921.2016.1143189","DOIUrl":"https://doi.org/10.1080/14445921.2016.1143189","url":null,"abstract":"Australian property rights exist within a sophisticated body of compensation case law and practice. To facilitate infrastructure, jurisdictions such as New South Wales must compulsorily acquire significant tracts of private land. The key factor for investigation in this paper is the prior reservation (or zoning) of such land where designated for a public purpose, which ultimately prohibits private usage. Enabling legislation for all compulsory acquisitions requires the assessment of compensation for the private land holder. Key judgements in various Australian Courts make clear that the question of an underlying zoning is a “jurisdictional fact” that triggers the agency to assess reasonable compensation.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2015-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14445921.2016.1143189","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59768059","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-09-02DOI: 10.1080/14445921.2016.1140715
Eileen Sim, Andy Krause, K. Winson-Geideman
Transit-oriented design (TOD) – an increase in density around transit stations – has arisen in many of Australia’s capital cities as a way to encourage mass transit ridership as well as to efficiently utilize the increase in foot and vehicle traffic that transit stations create. However, the implementation of TODs in Melbourne has faced strong opposition due to residents’ perception that the disamenities of a TOD will outweigh the benefits resulting in negative impacts on property prices. This research analyzes the relationship between proximity to a TOD and residential home prices. Results indicate that proximity to a TOD is positively related to property prices, even after controlling for neighborhood factors such as street connectivity and overall land use mix. By testing a variety of transformations of distance, we find that the benefits of TOD proximity extend approximately 1250 m from the Box Hill station. From a methodological standpoint, we find that more flexible treatments of distance variables in spatial autoregressive and spline models produce better model fit and lead to results more in line with urban economic theory.
{"title":"The impact of transit-oriented development (TOD) on residential property prices: the case of Box Hill, Melbourne","authors":"Eileen Sim, Andy Krause, K. Winson-Geideman","doi":"10.1080/14445921.2016.1140715","DOIUrl":"https://doi.org/10.1080/14445921.2016.1140715","url":null,"abstract":"Transit-oriented design (TOD) – an increase in density around transit stations – has arisen in many of Australia’s capital cities as a way to encourage mass transit ridership as well as to efficiently utilize the increase in foot and vehicle traffic that transit stations create. However, the implementation of TODs in Melbourne has faced strong opposition due to residents’ perception that the disamenities of a TOD will outweigh the benefits resulting in negative impacts on property prices. This research analyzes the relationship between proximity to a TOD and residential home prices. Results indicate that proximity to a TOD is positively related to property prices, even after controlling for neighborhood factors such as street connectivity and overall land use mix. By testing a variety of transformations of distance, we find that the benefits of TOD proximity extend approximately 1250 m from the Box Hill station. From a methodological standpoint, we find that more flexible treatments of distance variables in spatial autoregressive and spline models produce better model fit and lead to results more in line with urban economic theory.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2015-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14445921.2016.1140715","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59768198","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-09-02DOI: 10.1080/14445921.2016.1140713
T. Oyedokun, A. O. Adewusi, M. Bello
The need for proper identification of mortgage default factors has become a major focus of mortgage researches given the debilitating effect of default on mortgage market and real estate finance in particular. This paper therefore analyses the socio-economic attributes of borrowers as default triggers in residential mortgages of Primary Mortgage Institutions (PMIs) in Nigeria. Relevant data were collected on profiles of 305 borrowers randomly drawn from the credit databank of 36 PMIs. Using logistic regression (LR), payment-to-income ratio, type and sex of borrowers are found as significant mortgage default factors. With 68.2% overall prediction accuracy, LR is found appropriate for mortgage default prediction. However, the findings of this study also signal the complexity that is inherent employing socio-economic factors for default probability prediction.
{"title":"Impact of borrower's attributes on mortgage default: evidence from Nigerian lending market","authors":"T. Oyedokun, A. O. Adewusi, M. Bello","doi":"10.1080/14445921.2016.1140713","DOIUrl":"https://doi.org/10.1080/14445921.2016.1140713","url":null,"abstract":"The need for proper identification of mortgage default factors has become a major focus of mortgage researches given the debilitating effect of default on mortgage market and real estate finance in particular. This paper therefore analyses the socio-economic attributes of borrowers as default triggers in residential mortgages of Primary Mortgage Institutions (PMIs) in Nigeria. Relevant data were collected on profiles of 305 borrowers randomly drawn from the credit databank of 36 PMIs. Using logistic regression (LR), payment-to-income ratio, type and sex of borrowers are found as significant mortgage default factors. With 68.2% overall prediction accuracy, LR is found appropriate for mortgage default prediction. However, the findings of this study also signal the complexity that is inherent employing socio-economic factors for default probability prediction.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2015-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14445921.2016.1140713","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59767465","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-09-02DOI: 10.1080/14445921.2016.1140712
Muhammad Najib Razali
This paper examines the dynamics of return and volatility for listed property company markets across the major Asian countries over sub-periods based on the global financial crisis (GFC). The GFC and Eurozone crisis have shifted investors’ focus to investment in the Asian region, making it an opportunistic and dynamic region in terms of property portfolio investment. As such, it is of interest to assess return and volatility levels in the Asian region during the global financial crisis. This paper uses EGARCH models to empirically examine the dynamic volatility of listed property companies in 12 Asian countries. The findings reveal that, for the past 15 years, Asia had experienced moderate volatility levels in term of investment in listed property companies, including during the GFC. This study contributes to the empirical literature on the volatility dynamics for Asian property market allocations in international real estate portfolios, especially during a major financial crisis. In particular, the findings from this study will be useful for international investors to better understand the volatility profile of Asian listed property companies during the GFC.
{"title":"The dynamics of volatility for Asian listed property companies during the global financial crisis","authors":"Muhammad Najib Razali","doi":"10.1080/14445921.2016.1140712","DOIUrl":"https://doi.org/10.1080/14445921.2016.1140712","url":null,"abstract":"This paper examines the dynamics of return and volatility for listed property company markets across the major Asian countries over sub-periods based on the global financial crisis (GFC). The GFC and Eurozone crisis have shifted investors’ focus to investment in the Asian region, making it an opportunistic and dynamic region in terms of property portfolio investment. As such, it is of interest to assess return and volatility levels in the Asian region during the global financial crisis. This paper uses EGARCH models to empirically examine the dynamic volatility of listed property companies in 12 Asian countries. The findings reveal that, for the past 15 years, Asia had experienced moderate volatility levels in term of investment in listed property companies, including during the GFC. This study contributes to the empirical literature on the volatility dynamics for Asian property market allocations in international real estate portfolios, especially during a major financial crisis. In particular, the findings from this study will be useful for international investors to better understand the volatility profile of Asian listed property companies during the GFC.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2015-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14445921.2016.1140712","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59767686","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-09-02DOI: 10.1080/14445921.2016.1140714
T. Tan
Measuring mall visitors’ experience in an environment-friendly mall is important in determining the performance of the mall. In order to assess the significance of the environment-friendly mall in a developing country, this paper aims to examine the patronage response of mall visitors in terms of patronage satisfaction towards environment-friendly mall attributes. The results showed that Malaysian mall visitors place importance on green mall features such as high ceilings, lush and landscaped greenery, low emission windows and doors, escalators using energy reduction technologies, and solar panel system. The implications of these results are that Malaysian mall visitors somehow perceive the environment-friendly mall differently from the conventional shopping mall. Thus, the government should look into ways to offer incentives to promote green practices among mall developers to construct sustainable buildings in the country.
{"title":"Assessing the significance of environmentally friendly mall from Malaysian mall visitors’ perspective","authors":"T. Tan","doi":"10.1080/14445921.2016.1140714","DOIUrl":"https://doi.org/10.1080/14445921.2016.1140714","url":null,"abstract":"Measuring mall visitors’ experience in an environment-friendly mall is important in determining the performance of the mall. In order to assess the significance of the environment-friendly mall in a developing country, this paper aims to examine the patronage response of mall visitors in terms of patronage satisfaction towards environment-friendly mall attributes. The results showed that Malaysian mall visitors place importance on green mall features such as high ceilings, lush and landscaped greenery, low emission windows and doors, escalators using energy reduction technologies, and solar panel system. The implications of these results are that Malaysian mall visitors somehow perceive the environment-friendly mall differently from the conventional shopping mall. Thus, the government should look into ways to offer incentives to promote green practices among mall developers to construct sustainable buildings in the country.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2015-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14445921.2016.1140714","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59768080","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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