Mei-Se Chien, Neng-Huei Lee and Chih-Yang Cheng
This paper aims to examine the linkage of regional housing markets between Taiwan and China as increasing economic integration.
Abstract
Purpose
This paper aims to examine the linkage of regional housing markets between Taiwan and China as increasing economic integration.
Design/methodology/approach
Two time-varying estimations of cointegration tests, Gregory and Hansen (1996) cointegration test with structural break and the recursive coefficients of cointegration (Hansen and Johansen, 1993) are applied to trace the possible dynamic linkage of cross-border regional housing prices between Taiwan and China.
Findings
First, the estimating results of the long-run relationships show that increasing housing prices in Beijing and Shanghai decrease Taipei’s house prices, while Shenzhen and Chengdu have converse effects. The technologies’ levels of Taiwanese industries surrounding the cities in China will affect the direction of the linkage of regional housing prices between the two economies. Second, in light of causalities of these five housing prices’ changes, Beijing and Shanghai lead Taipei and Shanghai leads Chengdu, which, in turn, leads Shenzhen. Finally, the results of time-varying cointegration tests show that some critical economic and political incidents changed the linkages of housing prices between Taipei and the four cities in China.
Originality/value
Although some empirical works examined the linkages between cross-border house prices in Europe and the USA, study has looked at the linkages of cross-border housing prices between Taiwan and China. This is an interesting topic insofar as house price integration has implications for wealth effects that feed into consumer expenditure in both Taiwan and China. The empirical evidence overall displays the existence of the integration of regional housing markets between Taiwan and China. For the longer-term future, increasing economic integration between China and other Asia countries will result in greater and more diversified cross-border housing markets and pools of investors.
Details
Keywords
Yi-Chih Yang and Hsien-Pin Liu
This paper aims to investigate bank credit policies and uncover yacht building finance assessment factors from bank credit policies toward the yacht industry.
Abstract
Purpose
This paper aims to investigate bank credit policies and uncover yacht building finance assessment factors from bank credit policies toward the yacht industry.
Design/methodology/approach
This study’s questionnaire attempts to identify survey respondents’ degrees of awareness through difference analysis, and then uses entropy weighting and gray relational analysis to discover priority ranking order of bank credit assessment considerations from the perspective of Taiwan’s banking sector.
Findings
The research findings show that yacht builders have to review their ship financing application methods and improve shortcomings to meet banks’ credit granting requirements.
Originality/value
Banks emphasize yacht builders’ repayment ability to protect their depositors and shareholders.
Details
Keywords
The prediction of pre-election polls is an issue of concern for both politicians and voters. The Taiwan nine-in-one election held in 2014 ended with jaw-dropping results;…
Abstract
Purpose
The prediction of pre-election polls is an issue of concern for both politicians and voters. The Taiwan nine-in-one election held in 2014 ended with jaw-dropping results; apparently, traditional polls did not work well. As a remedy to this problem, the purpose of this paper is to utilize the comments posted on social media to analyze civilians’ views on the two candidates for mayor of Taichung City, Chih-chiang Hu, and Chia-Lung Lin.
Design/methodology/approach
After conducting word segmentation and part-of-speech tagging for the collected reviews, this study constructs the opinion phrase extraction rules for identifying the opinion words associated with the attribute words. Next, this study classifies the attribute words into six municipal governance-related topics and calculates the opinion scores for each candidate. Finally, this study uses correspondence analysis to transform opinion information on the candidates into a graphical display to facilitate the interpretation of voters’ views.
Findings
The results show that the topics of candidates’ backgrounds and transport infrastructure were the two most critical factors for the election prediction. Based on the predication, Lin outscores Hu by 17.74 percent which is close to the real election results.
Research limitations/implications
This study proposes new rules for the extraction of Chinese opinion words associated with attribute words.
Practical implications
This study applies Chinese semantic analysis to assist in predicting election results and investigating the topics of concern to voters.
Originality/value
The proposed opinion phrase extraction rules for Chinese social media, as well as the election forecast process, can provide valuable references for political parties and candidates to plan better nomination and election strategies.