Purpose – The purpose of this paper is to investigate the risk appetite in Hong Kong real estate and property security markets in the recent episode of global financial crisis. Design/methodology/approach – An advanced methodology developed from the previous risk appetite measurement and...

This study investigates property securities bubbles and crashes by using a dynamic mathematical methodology developed from the previous research (Watanabe et al. 2007a, b [31,32]). The improved model is used to detect the bubble and crash periods in five international countries/cities (namely,...

This article proposes a new model to measure the risk appetite in absence of option prices. Without options transaction, traditional measurements cannot be made. This article establishes a Risk Appetite (RA) indicator by way of change measure and simulation, with two density functions, i.e....

In this study, we investigate how geographic proximity to industrial services provided by cities across the urban hierarchy contributes to differences in land prices of nearby towns. We construct three urban hierarchy tiers for cities in China based on their administrative levels. Using over...

This study investigates a causal relationship between the adoption of the Closer Economic Partnership Arrangement (CEPA) trade liberalization policy and the average wage by exploiting long-term Hong Kong census data from 2001 to 2016. The individual-level analysis shows that the one-sided tariff...