bluuebunny/crossref_metadata_2025_split huggingface dataset:
Residential property price-stock price nexus in Hong Kong: new evidence from ARDL bounds test
Authors: Lee Koon Nam Henry 
Published: March 2017

PurposeThis study aims to investigate the cointegration and causality relationships between Hong Kong’s residential property price and stock price, using quarterly data, from the 1st quarter of 1980 to the 3rd quarter of 2015.Design/methodology/approachIn contrast to other studies, the cointegration test used is the autoregressive distributed lag (ARDL) cointegration (bounds testing) approach of Pesaranet al.(2001) that based on the estimation of an unrestricted error correction model and the causality test is based on non-causality test of Grangeret al.(2000). Moreover, this research employs recursive least square procedures and Chow (1960) breakpoint test to detect unknown structural break and variation of relationships between residential property and stock price over the whole sample period.FindingsThe results of ARDL cointegration tests running from stock to residential property markets provide strong evidence to support the hypothesis that the stock and residential properties are cointegrated. The results of Grangeret al.(2000) non-causality test support the view of wealth effect that stock price has an important causal effect on residential property price in Hong Kong but not vice versa. In addition, the results of recursive ordinary least squares coefficients estimates and Chow (1960) test (breakpoint test) for structural instability confirm the variation of the relationships between stock and residential property markets over the sample period.Research limitations/implicationsThe empirical results from cointegration and causality tests suggest that the residential asset returns are better predicted by including the lagged difference values of stock price.Originality/valueThis is the pioneering study to examine the cointegration and causality study of stock and residential property price in Hong Kong by employing Pesaran ARDL cointegration approach and Granger non-causality approach. Investors are able to perform an effective evaluation to assist in allocating investment funds, and the government bodies can implement supplement housing policy in response to the public needs.
Is the effect of high voltage transmission lines undervalued?
Authors: Callanan Judith 
Published: March 2017

PurposeThe purpose of this paper is to determine whether the discount placed on high voltage overhead transmission lines is underestimated.Design/methodology/approachA quantitative analysis was undertaken, using a high voltage overhead transmission line (HVOTL) case study, to determine the effect on property values prior and post removal of the HVOTL structure. Sales data and demographics are compared to determine the change in neighbourhood characteristics.FindingsThe results show that while the HVOTL is in place, the impact on value is confined to those properties in close proximity. This is in contradiction to the findings, where on removal of the HVOTL, the property values of the whole neighbourhood improve significantly.Research limitations/implicationsThe implication of this research is that property valuers (appraisers) need to change the way they take into account the presence of HVOTLs when valuing property, with more emphasis, being placed on the neighbourhood rather than just the properties in close proximity. While the HVOTL was in place, only properties in close proximity were negatively affected, but on removal of the HVOTL the whole neighbourhood increased in value.Originality/valueResults expand on current knowledge by demonstrating the difference between the discount rate that the valuers apply to the presence of the HVOTL, as compared to the positive impact to the whole neighbourhood on removal of the HVOTL.
Do urban tourism hotspots affect Berlin housing rents?
Authors: Schäfer Philipp , Hirsch Jens 
Published: March 2017

Purpose
This study aims to analyze whether urban tourism affects Berlin housing rents. Urban tourism is of considerable economic importance for many urban destinations and has developed very strongly over the past few years. The prevailing view is that urban tourism triggers side-effects, which affect the urban housing markets through a lack of supply and increasing rents. Berlin represents Germany’s largest rental market and is particularly affected by growing urban tourism and increasing rents.

Design/methodology/approach
The paper considers whether urban tourism hotspots affect Berlin’s housing rents, using two hedonic regression approaches, namely, conventional ordinary least squares (OLS) and generalized additive models (GAM). The regression models incorporate housing characteristics as well as several distance-based measures. The research considers tourist attractions, restaurants, hotels and holiday flats as constituents of tourism hotspots and is based on a spatial analysis using geographic information systems (GIS).

Findings
The results can be regarded as a preliminary indication that rents are, indeed, affected by urban tourism. Rents seem to be positively correlated with the touristic attractiveness of a particular location, even if it is very difficult to accurately measure the real quantity of the respective effects of the urban tourism amenities, as the various models show. GAM outperforms the results of OLS and seems to be more appropriate for spatial analysis of rents across a city.

Originality/value
To the best of the authors’ knowledge, the paper provides the first empirical analysis of the effects of urban tourism hotspots on the Berlin housing market.
Price linkages between Australian housing and stock markets
Authors: Lee Ming-Te , Lee Chyi Lin , Lee Ming-Long , Liao Chien-Ya 
Published: March 2017

PurposeThe purpose of this study is to examine the linkages between Australian house prices and stock prices under the Toda and Yamamoto test framework. Specifically, it investigated whether there is a capital switching effect between house prices and stock prices.Design/methodology/approachThis study examined the linkages between house prices and stock prices under the Toda and Yamamoto test framework. To accommodate the impact of the global financial crisis (GFC), a sub-period analysis was undertaken. To assess the impact of investor structure, the tests were also performed for small cap stocks and large cap stocks individually.FindingsThe empirical results reveal a negative lead–lag relationship between house prices and stock prices in Australia, suggesting the existence of capital switching activities between housing and stocks. The impact of the GFC on the lead–lag relationship between house prices and stock prices is also documented. Before the crisis, a causality transmission was running from house prices to stock prices, whilst stock prices appeared to lead house prices after the crisis. The capital switching activities between housing and stocks are more evident for small cap stocks.Originality/valueThis study is the first to examine the linkages between house prices and stock prices under the Toda and Yamamoto test framework. This is the first study to explore the impacts of the GFC on the lead–lag relationship between the two asset prices under the capital switching framework. This study is also the first to provide empirical evidence regarding the existence of capital switching activities between housing and stocks. In addition, the impact of investor structure on the interrelationship between the two asset prices is examined for the first time under the capital switching framework.
The influence of urban design packages on home values
Authors: Bitter Christopher , Krause Andy 
Published: March 2017

Purpose
The purpose of this study is to examine the impact of neighborhood design templates on residential home values in King County, WA, USA. Previous research examines a number of individual design factors; this study combines these factors into typologies and tests for the impacts of the composite set of design features.

Design/methodology/approach
The study analyzes over 27,000 home sales with a hedonic price model to measure the impacts across three large, regional submarkets. Neighborhood design categories are developed using a cluster analysis on a set of individual neighborhood attributes.

Findings
The key finding from this research is that the impact of more traditional (“urban”) design packages on home values is highly contextual. For the older and denser neighborhoods in the study area, a more traditional design results in a significantly positive impact on home values. In the new and more suburban regions of the study area, this effect is not found.

Originality/value
Prior work focused on valuing design attributes individually. The study argues that neighborhood design is better conceived of as a “package”, as the value of a given design element may depend on other co-located attributes. This is the first study, to the authors’ knowledge, to treat physical neighborhood design variables as a composite whole and to attempt to value their impact on home values as such.
The precision of asset beta estimates
Authors: Lesseig Vance , Payne Janet D. 
Published: March 2017

Purpose
The capital asset pricing model has fundamentally changed the way finance is taught and practiced since its development in 1964. However, one problem with the use of the model is estimating the systematic risk of untraded assets. Academics and practitioners have dealt with the problem by using traded assets as “proxies” for the untraded asset. Some academic research has attempted to measure the validity of this technique using the average difference in the true beta of a traded firm and the “proxy” beta using a sample of similar firms. The paper aims to discuss these issues.

Design/methodology/approach
However, the use of the average difference across a number of comparisons is not necessarily useful to a practitioner. This paper examines the absolute difference between a firm’s unlevered beta and a proxy beta calculated using the formula given in Hamada, 1972, and the pure play method.

Findings
The authors find that the estimates are not reliably close to the true value. Using both deciles of relevant variables and a matching method similar to that used by practitioners, the authors examine a variety of different characteristics to identify similar firms.

Originality/value
However, the authors do not find any matching criteria that improves the absolute error of the estimate to a level, the authors believe would be acceptable to practitioners attempting to measure cost of equity capital for their untraded firm or asset. The authors conclude that managers should use pure play estimates of asset beta with caution. More research should be done in order to identify a better way for managers of untraded firms or assets to proxy their systematic risk.
Evaluating alternative performance benchmarks for Indian mutual fund industry
Authors: Sehgal Sanjay , Babbar Sonal 
Published: March 2017

Purpose
The purpose of this paper is to perform a relative assessment of performance benchmarks based on alternative asset pricing models to evaluate performance of mutual funds and suggest the best approach in Indian context.

Design/methodology/approach
Sample of 237 open-ended Indian equity (growth) schemes from April 2003 to March 2013 is used. Both unconditional and conditional versions of eight performance models are employed, namely, Jensen (1968) measure, three-moment asset pricing model, four-moment asset pricing model, Fama and French (1993) three-factor model, Carhart (1997) four-factor model, Elton et al. (1999) five-index model, Fama and French (2015) five-factor model and firm quality five-factor model.

Findings
Conditional version of Carhart (1997) model is found to be the most appropriate performance benchmark in the Indian context. Success of conditional models over unconditional models highlights that fund managers dynamically manage their portfolios.

Practical implications
A significant α generated over and above the return estimated using Carhart’s (1997) model reflects true stock-picking skills of fund managers and it is, therefore, worth paying an active management fee. Stock exchanges and credit rating agencies in India should construct indices incorporating size, value and momentum factors to be used for purpose of benchmarking.

Originality/value
The study adds new evidence as to applicability of established asset pricing models as performance benchmarks in emerging market India. It examines role of higher order moments in explaining mutual fund returns which is an under researched area.
Policy boomerang in technical education: a system dynamics perspective
Authors: Upadhayay Lalit , Vrat Prem 
Published: March 2017

Purpose
The Indian technical education has experienced an exponential growth since 1995. However, the technical education system was not able to sustain it and the enrollments, particularly in engineering, fell down considerably. The purpose of this paper is to analyze the growth of Indian technical education from system dynamics (SD) perspective.

Design/methodology/approach
Technical education is a complex system in which the outcome of a decision comes with a third order delay. SD is an appropriate tool to analyze the causal structure and behavior of complex systems. This study developed an analogy from the physics of a boomerang to do the comparative assessment of “sudden overshoot and collapse” phase in the growth of Indian technical education. Further, it compared the technical education growth with the Gartner hype cycle. The growth model of Indian technical education was developed using SD software STELLA (version 10.0).

Findings
The model was simulated for five different policy scenarios. The outcome of the SD analysis shows that the “goal-seeking behaviour,” which produces stable growth without hampering quality, is the best proposition amongst all scenarios considered in the study. It identifies policies which will enable long-term stability in the Indian technical education system as well as policies which will lead to perpetual instability in the system.

Research limitations/implications
The study conducted will encourage researchers to use SD in analyzing complex systems for sustainability and in the selection of appropriate policies.

Originality/value
The paper uses boomerang analogy for analyzing the growth in engineering enrollments and highlights the presence of “the boomerang effect,” a term coined by the authors for sudden overshoot and collapse behavior, in the causal structure which is injurious to the education system.
Nature-based therapy as a treatment for veterans with PTSD: what do we know?
Authors: Varning Poulsen Dorthe 
Published: March 2017

Purpose
The purpose of this paper is to provide a comprehensive argument for nature-based therapy (NBT) for veterans with post-traumatic stress syndrome. It is the aim to generate an overview of the evidence for NBT to the target group. A review of available scientific literature within the field, has been comprehensively conducted. This work is the foundation for the recommendations to decision makers and politicians.

Design/methodology/approach
This paper provides a conceptual analyses and a general review of the literature. Following steps have been conducted. Based on the research question, relevant work (scientific papers) have been identified using search terms in English within the three areas the target group (veterans), the diagnosis (post-traumatic stress disorder, PTSD) and treatment (NBT). Study-quality and evidence level have been assessed and discussed.

Findings
The findings show a wide variation according to the interventions the nature setting, the length and frequency of the NBT session as well as the health outcome measures. The studies demonstrated a positive impact on the PTSD symptoms, quality of life and hope. None of the studies found negative impact of the interventions. Being in a group of other veterans facing the same problems was highlighted as well. Some studies measured the ability to return to workforce for the veterans and found NBT beneficial in that process.

Research limitations/implications
The limitation of the research due to the methods of identifying studies. The purpose of this was to give an overview of existing literature, and there can be studies, that are not found in this process. Including qualitative and quantitative methods are useful in a process of understanding the impact of NBT for veterans with PTSD. The quantitative studies, which unfortunately are few, can give information of the extent to which the treatment affects the symptoms of PTSD. Seen in the perspective of the burden for the veterans suffering from PTSD and the economic burden for society, the process of synthesizing the research in the field in order to generate a fundament seems necessary.

Practical implications
This policy papers are useful in order to make recommendations for politicians and decision makers as well as practitioners.

Social implications
The burden of suffering from PTSD is heavy for the veterans and their family. The society must drive forward the development of new and better evidence-based treatment programs for veterans with PTSD. NBT might be a step in the right direction of this.

Originality/value
It is well-known that there are an increase in the number of veterans diagnosed with PTSD. Generally the drop-out rate of the veterans is high in conventional treatment and it is found that veterans experience some side effects from medical treatment. NBT is, in existing research, found to have a positive impact on the veterans, and therefore, it should be part of future treatment programs for veterans with PTSD.
Usability testing of the Letters of 1916 Digital Edition
Authors: Wusteman Judith 
Published: March 2017

PurposeThe purpose of this paper is to describe the process and implications of usability testing a prototype version of the Letters of 1916 Digital Edition.Design/methodology/approachThe paper presents the testing, the lessons learned and how those lessons informed the subsequent redesign of the site.FindingsResults imply that a majority of users, even digital humanists, were not looking for a unique and specialised interface, but assumed – and preferred – a user experience that reflects common search systems. Although the audience for digital humanities sites is becoming increasingly diverse, the needs of the different user groups may be more similar than had previously been assumed.Research limitations/implicationsThe usability test employed 11 participants, five of whom were coded as “general public”. Four of these five had previously volunteered to transcribe and upload letters. This meant that they were already familiar with the project and with the Letters of 1916 Transcription Desk. However, their prior involvement was a result of their genuine interest in the site, thus ensuring that their interactions during testing were more realistic.Practical implicationsThe lesson learned may be useful for the Digital Editions of future crowdsourced humanities projects.Originality/valueLetters of 1916 is the first crowdsourced humanities project in Ireland. The theme of the project is topical, emotive and socially important in Ireland and among Irish diaspora today. The project’s content has been created by the “ordinary citizens of Ireland” and they are likely to be the major users of the Digital Edition. The study explores how the Digital Edition can support these users, while also facilitating the range of traditional scholars and digital humanities researchers.
RAMP – the Repository Analytics and Metrics Portal
Authors: OBrien Patrick , Arlitsch Kenning , Mixter Jeff , Wheeler Jonathan , Sterman Leila Belle 
Published: March 2017

Purpose
The purpose of this paper is to present data that begin to detail the deficiencies of log file analytics reporting methods that are commonly built into institutional repository (IR) platforms. The authors propose a new method for collecting and reporting IR item download metrics. This paper introduces a web service prototype that captures activity that current analytics methods are likely to either miss or over-report.

Design/methodology/approach
Data were extracted from DSpace Solr logs of an IR and were cross-referenced with Google Analytics and Google Search Console data to directly compare Citable Content Downloads recorded by each method.

Findings
This study provides evidence that log file analytics data appear to grossly over-report due to traffic from robots that are difficult to identify and screen. The study also introduces a proof-of-concept prototype that makes the research method easily accessible to IR managers who seek accurate counts of Citable Content Downloads.

Research limitations/implications
The method described in this paper does not account for direct access to Citable Content Downloads that originate outside Google Search properties.

Originality/value
This paper proposes that IR managers adopt a new reporting framework that classifies IR page views and download activity into three categories that communicate metrics about user activity related to the research process. It also proposes that IR managers rely on a hybrid of existing Google Services to improve reporting of Citable Content Downloads and offers a prototype web service where IR managers can test results for their repositories.
27 pawns ready for action
Authors: Mochón Gonzalo , Méndez Eva M. , Bueno de la Fuente Gema 
Published: March 2017

PurposeThe purpose of this paper is to propose a methodology for assessing thesauri and other controlled vocabularies management tools that can represent content using the Simple Knowledge Organization System (SKOS) data model, and their use in a Linked Open Data (LOD) paradigm. It effectively analyses selected set of tools in order to prove the validity of the method.Design/methodology/approachA set of 27 criteria grouped in five evaluation indicators is proposed and applied to ten vocabulary management applications which are compliant with the SKOS data model. Previous studies of controlled vocabulary management software are gathered and analyzed, to compare the evaluation parameters used and the results obtained for each tool.FindingsThe results indicate that the tool that obtains the highest score in every indicator is Poolparty. The second and third tools are, respectively, TemaTres and Intelligent Theme Manager, but scoring lower in most of the evaluation items. The use of a broad set of criteria to evaluate vocabularies management tools gives satisfactory results. The set of five indicators and 27 criteria proposed here represents a useful evaluation system in the selection of current and future tools to manage vocabularies.Research limitations/implicationsThe paper only assesses the ten most important/well know software tools applied for thesaurus and vocabulary management until October 2016. However, the evaluation criteria could be applied to new software that could appear in the future to create/manage SKOS vocabularies in compliance with LOD standards.Originality/valueThe originality of this paper relies on the proposed indicators and criteria to evaluate vocabulary management tools. Those criteria and indicators can be valuable also for future software that might appear. The indicators are also applied to the most exhaustive and qualified list of this kind of tools. The paper will help designers, information architects, metadata librarians, and other staff involved in the design of digital information systems, to choose the right tool to manage their vocabularies in a LOD/vocabulary scenario.