Purpose – To re‐examine the role of property management from an institutional economics perspective. Design/methodology/approach – The role of property management is explored by asking why property management has emerged from the first principle. Then, an analytical framework for property...

Purpose – This paper seeks to explore the relationship between market positioning and rents of retail facilities in Hong Kong. Design/methodology/approach – Regression analysis is deployed in the paper to find out the impact of various attributes, in terms of a retail facility's physical...

The paper examines how building height is determined in the absence of building height regulatory restrictions. A model is developed for determining optimal height using simple neo-classical economic analysis; this is then tested using empirical data from Hong Kong. The results show that the...

In this article, we provide a systematic study on effectively approximating the Gerber–Shiu functions, which is a hardly touched topic in the current literature, by incorporating the recently popular Fourier-cosine method. Fourier-cosine method has been a prevailing numerical method in option...

Purpose – In 2000, the Hong Kong Government commissioned the Construction Industry Review Committee (CIRC) to provide a thorough review of the strengths/weaknesses of the Hong Kong construction industry and to recommend improvement measures. The CIRC’s report, released in 2001, recommended...

A distinctive feature of mortgages as assets is the existence of prepayment risk, typically viewed as a borrower’s call option to pay the outstanding mortgage balance at any time during the term. While previous research identified important causes for prepayment, these studies are mostly based...

Purpose – The purpose of this paper is to theorise on the nature of property management broadly understood as resource management and demonstrate the actual and potential contribution of innovative property management to sustainable development. Design/methodology/approach – The approach is...

Purpose – The purpose of this paper is to explore the idea of transplanting the institution of homeowner associations or similar to existing urban neighbourhoods in order to correct imbalances in patterns of incentives and responsibilities that threaten the liveability and sustainability of...