The Office for National Statistics in the UK has developed and adopted a new method for collecting and publishing construction statistics. The analysis of the revised construction new orders series and the associated new UK Department for Business, Innovation and Skills (BIS) output price index...

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 – 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 – 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...

Purpose – This paper sets out to explore the concepts involved in sustainability by investigating the basic meanings of the terms, the primary principles involved and their application to practices of development. Design/methodology/approach – A perspective founded in natural science is...