Pedro Fong, Henry Hoi-Yee Tong, Hio-Lam Cheong, Ka-Hou Choi, Ka-Kei Ieong, Lo-Ka Lam, Chi-Man Wong and Sin-Wa Wong
The purpose of this paper is to analyse the quality of online information about sexually transmitted diseases (STD) and determine which web sites are suitable for patients to…
Abstract
Purpose
The purpose of this paper is to analyse the quality of online information about sexually transmitted diseases (STD) and determine which web sites are suitable for patients to read.
Design/methodology/approach
This study evaluated the integrity, accessibility, readability, reliability, and completeness of 75 web sites providing information on one of five different types of STD. The Google AdWords Keywords Tool was used to determine the five most frequently searched STD terms: HIV, herpes, chlamydia, syphilis, and gonorrhoea. These five terms were then subjected to a Google search, and the first 15 web sites found for each term were evaluated. The web sites were assessed for integrity on the basis of a defined integrity score, accessibility on the basis of three levels of conformance to Web Content Accessibility Guidelines, readability on the basis of the Flesch Reading Ease score and the Flesch-Kincaid grade level, reliability on the basis of the LIDA instrument, and completeness on the basis of the quality appraisal instruments developed by the authors.
Findings
The results suggested that the quality of information available on different web sites is inconsistent, and the information maintained by government web sites is most appropriate for general public users in terms of integrity, accessibility, readability, reliability, and completeness.
Originality/value
There are currently no studies analysing the quality of online information about STDs.
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Ivan Ho San Wong, Chi Man Fan, Dickson K.W. Chiu and Kevin K.W. Ho
Social media celebrities are getting popular in promotions, and more people have experienced social media to receive information on diet and health tips. This research presents a…
Abstract
Purpose
Social media celebrities are getting popular in promotions, and more people have experienced social media to receive information on diet and health tips. This research presents a study showing how social media can influence young people's diet behavior through collaboration with social media celebrities.
Design/methodology/approach
Through recruiting on various social media and online education forums, this research recruited 196 young Hongkongers to participate in an online survey developed based on the AIDA (Action, Interest, Desire, Attention) marketing communication model on how youths access diet information from social media celebrities in Hong Kong.
Findings
Hong Kong youths consume diet information from social media celebrities through instant messaging systems, social networking sites and online videos, and, in particular, information on food calories and nutrition. However, sponsorship from vendors would decrease their desire to agree with the messages from social media celebrities. After receiving this information, some participants would follow tips and guides from social media celebrities. However, they seldom share such information. Interestingly, males are more willing to follow these tips and guides.
Originality/value
First, this study fills the gap of prior research, which did not study much on how social media celebrities contribute to diet promotion to youths in Asia. Second, through the AIDA Model, this study shows how social media can affect the awareness and accessibility of diet information by young Hongkongers, followed by initiating their interest in this topic and retrieving more relevant information. Furthermore, the authors further understand their desire to follow and improve their behavior as promoted by social media influencers and how they practice such behavior. Based on these findings, health-related brands could consider using social media influencers helping to promote their products and services, and these brands could further use social media to secure customer engagement.
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Cong Liang, Eddie Chi Man Hui and Tsz Leung Yip
This paper aims to explore one question: to what extent does urban rehabilitation impact the housing search cost of the low-income tenants.
Abstract
Purpose
This paper aims to explore one question: to what extent does urban rehabilitation impact the housing search cost of the low-income tenants.
Design/methodology/approach
This paper adopts the fixed effects time-on-market (TOM) model and pricing model to study the research question.
Findings
Urban rehabilitation lifts the subdivided units (SDUs’) prices by around 7%. For the SDU located in old districts, urban rehabilitation gives rise to the rental price up by 11%–12%. The SDUs in the area without urban rehabilitation experience a short marketing period of 16%–17%. The SDU located in the old district that is without urban rehabilitation would have a short marketing time.
Originality/value
To the best of the authors’ knowledge, this is the pioneering research to investigate the relationship between rehabilitation and low-income rental housing from the improved search theory. The improved search theory posits that under the circumstance of urban rehabilitation, low-income tenants’ options are limited and the search behavior will be restricted in the affordable areas, and then TOM will be shortened. With the concentration of SDUs in Hong Kong, the test of the search theory is broken down into two hypotheses. (H1) Urban rehabilitation leads to low-income housing prices increase. (H2) Low-income housing located in areas without urban rehabilitation has a shorter TOM.
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Eddie Chi Man Hui, Francis Kwan Wah Wong and Yat Hung Chiang
Numerous studies suggest that announcements of capital offerings cause abnormal price reaction in stock markets. However, despite extensive research, relevant studies on the…
Abstract
Purpose
Numerous studies suggest that announcements of capital offerings cause abnormal price reaction in stock markets. However, despite extensive research, relevant studies on the property sector are still relatively scarce, especially in the case of Hong Kong. The determinants of the post‐offering price effects, which vary across industries and regions, are yet to be identified. This paper aims to examine the abnormal stock return phenomenon of Hong Kong property developers and construction companies surrounding the announcement and offer dates of capital issuances.
Design/methodology/approach
It employs the event‐study methodology and regression analysis to verify such effects.
Findings
The major findings are: on equity offering announcements, there is a significant negative price reaction; the pre‐offering debt/equity ratio of a firm is significantly associated with the level of abnormal price reactions; and on debt offerings there is, to the contrary, a modest increase in stock prices.
Practical implications
This study has identified a set of determinants of the post‐offering stock price effects.
Originality/value
It can be concluded that there is evidence of abnormal price effects over the announcement and offer dates of capital issuances with unique characteristics of the property and construction sectors in Hong Kong.
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Tak Yun Joe Wong, Chi Man Eddie Hui and William Seabrooke
Investigates primarily the role of interest rates on housing prices from expectation perspectives. It quantifies the impact of interest rates on price movements from 1981 to 2001…
Abstract
Investigates primarily the role of interest rates on housing prices from expectation perspectives. It quantifies the impact of interest rates on price movements from 1981 to 2001 in Hong Kong. The principal finding is that housing prices display a moderately high correlation with interest rates in the deflationary 1998‐2001 period. Reduced interest rates are linked to higher housing prices until 1997, thereafter, such inverse relationship appears to be non‐existent. The impact of interest rates tends to be significantly positive in the inflationary pre‐1997 period. But most of the fall in housing prices since early 1998 can be attributed to low hope‐led price expectations. The results indicate that interest rates do not “Granger‐cause” housing prices, and that the positive interest rate effect in deflationary periods seems to have been negated by anticipated capital losses.
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Eddie Chi‐Man Hui, Hoi Ting Lau and Tareef Hayat Khan
It has been said that people's expectation towards their living space has been increased. They have a higher requirement not only for the facilities it provides, but also for the…
Abstract
Purpose
It has been said that people's expectation towards their living space has been increased. They have a higher requirement not only for the facilities it provides, but also for the quality of property management services. Property management is now regarded as one of the important considerations of buyers in purchasing a property. This research paper aims to investigate the significance of the quality of property management to property buyers.
Design/methodology/approach
ISO 9001 Certification and HKMA Quality Award (HKMAQA) are used as the measurement of the quality of property management. The paper used a hedonic price model to determine whether there is a relationship between property management and property price and the inference of property management on property price if there is such relationship. Seven private residential estates in Ma On Shan with similar locational characteristics were selected in the research.
Findings
The empirical results show that property management has a significant and positive relationship with property prices. People are willing to pay 4.92 percent and 2.84 percent more on properties managed by a property management company that is ISO 9001‐certified and HKMAQA winner respectively.
Research limitations/implications
The implications of the results imply that well‐recognized property management increases the value of a property and attracts second‐hand property buyers, and quality property management adds value to properties and hence increases the property price.
Originality/value
The research has contributed an indication of the amount a household would be willing to pay on quality property management services as a reference for investors, users, developers and property management services providers.
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Eddie Chi-man Hui, Ka-hung Yu and Cheuk-kin Tse
As the awareness of environmental preservation and of sustainable development have become increasingly pronounced among various stakeholders, such as governments and communities…
Abstract
Purpose
As the awareness of environmental preservation and of sustainable development have become increasingly pronounced among various stakeholders, such as governments and communities, many businesses, in response, commence to introduce environmental-friendly measures and/or implement an environmental management system (EMS) in their daily operations. Even a service-oriented industry such as property management is no exception. To showcase their commitment to this cause, property management companies tend to obtain different environmental certifications. This study aims to investigate the effect of green property management, through environmental certifications, on property price.
Design/methodology/approach
The hedonic price model is used to determine the impacts of different environmental certifications on prices of selected residential properties in Hong Kong. Three districts from different parts of Hong Kong, including 16 private residential developments, are covered in this study.
Findings
The results show that ISO 14001 certification itself is not statistically significant in explaining property price. It is only when a property management company has obtained other local environmental management awards/certificates that varying levels of (positive) property price premiums are found. Nonetheless, the authors also find that controlling for other housing attributes, obtaining as many environmental certifications as possible does not necessarily result in the highest property price premium.
Research limitations/implications
Nonetheless, the data sample has its limitations, such as its relatively small size and the unavailability of housing attribute(s) such as orientations.
Practical implications
For the implications, the value of environmental management awards/certificates, from the perspective of the end-users of property management services, is based on the scopes of these environmental certifications; the promotional effort on the part of organizations behind these awards/certificates; the disclosure of information about the EMS itself and the assessment criteria; and the public’s perceptions as to the companies’ rationale behind such certifications.
Originality/value
The study has provided some insights regarding the effect of various management standard certifications in property management, from the perspective of the end-users of the service (i.e. homeowners and potential homebuyers). This serves as a reference for developers, property managers, buyers and users alike.
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The aim of this research is to investigate the effects of land supply (LS) and lease conditions on the housing market. It tests whether there exists a relationship: between LS and…
Abstract
The aim of this research is to investigate the effects of land supply (LS) and lease conditions on the housing market. It tests whether there exists a relationship: between LS and housing price, between development conditions in government land leases and housing supply, and to what extent these development conditions affect Hong Kong's supply, of private residential flats. This paper focuses on examining the supply side of private housing in Hong Kong, whilst limiting the investigation on how LS and development conditions affect the supply of the private residential property market. The findings of this study bring additional knowledge on a different form of government control over the land market. First, an overview of Hong Kong's housing supply situation is presented. An understanding of Hong Kong's housing situation generates an underlying rationale for this study. In order to understand Hong Kong's land tenure system, Section 2 provides a brief background of the establishment of Hong Kong's leasehold tenure system. Section 3 develops the research framework within which to provide a global synopsis of literature (relating to the effects of leasehold land tenure system, governmental land regulation, development/land use control, and restricted LS on the housing market) and theoretical models for the analysis of LS and lease conditions. Following the analysis of findings, the concluding section presents recommendations for policy change.
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Eddie Chi-man Hui, Cheuk-kin Tse and Ka-hung Yu
As environmental awareness has become increasingly pronounced among various stakeholders such as governments and communities, many businesses start to adopt a more…
Abstract
Purpose
As environmental awareness has become increasingly pronounced among various stakeholders such as governments and communities, many businesses start to adopt a more environmental-friendly approach in their operations. Even a service-oriented industry such as property management is no exception. One way to showcase a company's commitment to this cause is to become ISO14001-certified, under which it is required to implement an environmental management system. In light of this, this paper aims to investigate the impact of this certification in property management, along with two other well-known management certifications/awards in ISO9001 and Hong Kong Management Association Quality Award (HKMAQA), on property price.
Design/methodology/approach
The hedonic price model was used to determine whether or not there is a relationship between ISO14001 certification (as well as ISO9001 and HKMAQA) and property price, and if so, its impact. Three districts from different parts of Hong Kong, including 17 private residential developments, were covered in this research.
Findings
The results show that a flat managed by a company with ISO9001 certification is 8.87 percent higher than another flat managed by a non-ISO9001-certified property management companies (PMC); the adoption of ISO14001 certification appears to help generate a premium of about 3.65 percent in property price for a PMC which has already been ISO9001-certified; and for a company already with both ISO9001/14001 certifications, the obtaining of HKMAQA brings about an extra 15.37 percent in housing price. It can be said that the impact of ISO14001 certification on property value is smaller than that of the other two management standards.
Research limitations/implications
The findings do not necessarily suggest that the adoption of ISO14001 (or HKMAMA) generates the exact same premium to a residential property by itself, as two or more components in tandem may create more value than the sum of the parts. Nonetheless, considering that most companies have already been ISO9001-certified prior to considering an ISO14001 certification, they, as separate variables, are inevitably highly correlated which could be an issue when using methods such as hedonic models. This renders the assessment of the impact on property price solely attributed to ISO14001 rather problematic if they are studied together.
Practical implications
In the short run, ISO14001 certification, as a public relations tool, might actually help flats within these developments to gain an advantage over the competitors within the district, or at least offset the adverse impact of some of its intrinsic defects in order to stay competitive (for instance, the age issue and the smaller brand name effect due to the development's lack of scope), but not in the long run.
Originality/value
The paper has provided some insights regarding the effect of various management standard certifications in property management, from the perspective of the end-users (i.e. homebuyers), rather than from that of those involved in the operations as seen in previous studies. This serves as a reference for developers, property managers, buyers, and users alike.
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Wadu Mesthrige Jayantha and Eddie Chi‐man Hui
Residential crowding and underlying causes of crowding have been changing across the globe over time. The aim of this paper is to examine the dynamics of housing consumption and…
Abstract
Purpose
Residential crowding and underlying causes of crowding have been changing across the globe over time. The aim of this paper is to examine the dynamics of housing consumption and residential crowding in Hong Kong.
Design/methodology/approach
While the two‐step Engle‐Granger co‐integration approach based on an error correction model (ECM) is used to test for long‐run relation and short‐run dynamics of housing consumption, the study also uses a multivariate regression model to analyze the factors affecting residential crowding. Along with other variables in previous literature, the study introduces a new institutional factor, i.e. land supply, into the model that analyzes these two issues over a time span of 25 years.
Findings
The study's results suggest that many households in Hong Kong still have inadequate housing, and residential overcrowding is a serious issue. Coupled with market forces (e.g. income, housing price, household size), the new land supply factor noticeably has exerted significant influence on the two subject issues under investigation.
Practical implications
The paper provides policy implications that to address such deficiencies, the government should change its current land supply policy. A policy shift is recommended away from its “high‐land price” policy towards comprehensive developments in outer urban areas. This institutional change should help improve housing consumption in the territory overall.
Originality/value
This study adds knowledge to previous works in analyzing residential crowding and its underlying causes over the years, rather than in a particular point in time. It is also the first of its kind in Hong Kong.