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Econometric modelling of risk adverse behaviours of entrepreneurs in the provision of house fittings in China

Auteur(s):
Médium: article de revue
Langue(s): anglais
Publié dans: Australasian Journal of Construction Economics and Building, , n. 1, v. 12
Page(s): 72-82
DOI: 10.5130/ajceb.v12i1.2432
Abstrait:

Entrepreneurs have always born the risk of running their business. They reap a profit in return for their risk taking and work. Housing developers are no different. In many countries, such as Australia, the United Kingdom and the United States, they interpret the tastes of the buyers and provide the dwellings they develop with basic fittings such as floor and wall coverings, bathroom fittings and kitchen cupboards. In mainland China, however, in most of the developments, units or houses are sold without floor or wall coverings, kitchen  or bathroom fittings. What is the motive behind this choice? This paper analyses the factors affecting housing developers’ decisions to provide fittings based on 1701 housing developments in Hangzhou, Chongqing and Hangzhou using a Probit model. The results show that developers build a higher proportion of bare units in mainland China when: 1) there is shortage of housing; 2) land costs are high so that the comparative costs of providing fittings become relatively low.

License:

Cette oeuvre a été publiée sous la license Creative Commons Attribution 4.0 (CC-BY 4.0). Il est autorisé de partager et adapter l'oeuvre tant que l'auteur est crédité et la license est indiquée (avec le lien ci-dessus). Vous devez aussi indiquer si des changements on été fait vis-à-vis de l'original.

  • Informations
    sur cette fiche
  • Reference-ID
    10338816
  • Publié(e) le:
    05.08.2019
  • Modifié(e) le:
    02.06.2021
 
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