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Article: The impact of a pedestrianisation scheme on retail rent: an empirical test in Hong Kong

TitleThe impact of a pedestrianisation scheme on retail rent: an empirical test in Hong Kong
Authors
KeywordsHong Kong
Pedestrian roads
Shops
Rental value
Pedestrianised areas
Issue Date2011
PublisherEmerald Group Publishing Ltd. The Journal's web site is located at http://www.emeraldinsight.com/info/journals/jpmd/jpmd.jsp
Citation
Journal of Place Management and Development, 2011, v. 4 n. 3, p. 231-242 How to Cite?
AbstractPurpose - The purpose of this paper is to study empirically the effect of a pedestrianisation scheme on retail rent, in a case study in Hong Kong. Design/methodology/approach - Most of the previous studies on the impacts of pedestrianised areas on the environment were qualitative ones, and without controls. This study, in contrast, uses panel market data in Hong Kong to estimate the effect in a two-street-two-period controlled model. Findings - The results show a net 17 per cent increase in rental value of retail shops in the pedestrianised area is achieved, ceteris paribus. Research limitations/implications - Sample size and number of case study are not large enough to make robust conclusions; some other uncontrollable variables may well be attributed to the increase in rents. Practical implications - Retail rent is found empirically to be dependent of the external environment. Social implications - Shoppers' preference for pedestrianisation schemes can be indirectly quantified by the change of retail rent. Originality/value - This paper presents the first two-street-two-period panel empirical test on the effect of pedestrianisation scheme on retail rent.
Persistent Identifierhttp://hdl.handle.net/10722/135449
ISSN
2015 SCImago Journal Rankings: 0.802

 

DC FieldValueLanguage
dc.contributor.authorYiu, CYen_US
dc.date.accessioned2011-07-27T01:35:19Z-
dc.date.available2011-07-27T01:35:19Z-
dc.date.issued2011en_US
dc.identifier.citationJournal of Place Management and Development, 2011, v. 4 n. 3, p. 231-242en_US
dc.identifier.issn1753-8335-
dc.identifier.urihttp://hdl.handle.net/10722/135449-
dc.description.abstractPurpose - The purpose of this paper is to study empirically the effect of a pedestrianisation scheme on retail rent, in a case study in Hong Kong. Design/methodology/approach - Most of the previous studies on the impacts of pedestrianised areas on the environment were qualitative ones, and without controls. This study, in contrast, uses panel market data in Hong Kong to estimate the effect in a two-street-two-period controlled model. Findings - The results show a net 17 per cent increase in rental value of retail shops in the pedestrianised area is achieved, ceteris paribus. Research limitations/implications - Sample size and number of case study are not large enough to make robust conclusions; some other uncontrollable variables may well be attributed to the increase in rents. Practical implications - Retail rent is found empirically to be dependent of the external environment. Social implications - Shoppers' preference for pedestrianisation schemes can be indirectly quantified by the change of retail rent. Originality/value - This paper presents the first two-street-two-period panel empirical test on the effect of pedestrianisation scheme on retail rent.-
dc.languageengen_US
dc.publisherEmerald Group Publishing Ltd. The Journal's web site is located at http://www.emeraldinsight.com/info/journals/jpmd/jpmd.jsp-
dc.relation.ispartofJournal of Place Management and Developmenten_US
dc.subjectHong Kong-
dc.subjectPedestrian roads-
dc.subjectShops-
dc.subjectRental value-
dc.subjectPedestrianised areas-
dc.titleThe impact of a pedestrianisation scheme on retail rent: an empirical test in Hong Kongen_US
dc.typeArticleen_US
dc.identifier.emailYiu, CY: ecyyiu@hkucc.hku.hken_US
dc.identifier.authorityYiu, CY=rp01035en_US
dc.identifier.doi10.1108/17538331111176057-
dc.identifier.hkuros186935en_US
dc.identifier.volume4-
dc.identifier.issue3-
dc.identifier.spage231-
dc.identifier.epage242-
dc.publisher.placeUnited Kingdom-

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