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postgraduate thesis: Endogenous factors affecting the performance of owners' corporations
Title | Endogenous factors affecting the performance of owners' corporations |
---|---|
Authors | |
Issue Date | 2020 |
Publisher | The University of Hong Kong (Pokfulam, Hong Kong) |
Citation | Cheung, K. Y. K. [張嘉賢]. (2020). Endogenous factors affecting the performance of owners' corporations. (Thesis). University of Hong Kong, Pokfulam, Hong Kong SAR. |
Abstract | Hong Kong’s housing stock is predominately in the form of multi-owned
buildings (MOBs) and often plagued by the problems of collective action. The
HKSAR government has been encouraging owners to incorporate themselves into
a legal entity called owners’ corporations (IOs) under the Building Management
Ordinance (Cap. 344) to take part in the management of their properties. Previous
studies indicate that engaging a property management company (PMC) is helpful
in alleviating some of the problems of collective action and yet, for some reasons,
about 22% of private buildings in Hong Kong are managed by IOs without the
assistance of a PMC.
Apart from its nature being a collective action with the inherent problems
of over-exploitation and free riding, managing a MOB without engaging a PMC is
a difficult venture, given the complex operating environment and a plethora of
applicable regulatory regimes. Obviously, some of these IOs perform better than
others. What makes these IOs more successful?
Since the actual work of an IO is carried out by members of its management
committee (MC), one may hypothesize that the personality characteristics of the
members (e.g. dedication, legal knowledge, prior public office experience) may
affect the performance of IOs. If this is the case, to what extent do these personality
characteristics, among other endogenous factors, affect the performance of an IO?
The answers to the above questions are significant in that if the performance
of an IO depends on the personality characteristics possessed by the members of
the MC, then perhaps more can be done to ensure that these characteristics are
replicated and made available to assist IOs in building management.
This study used a structured questionnaire survey to measure building
management performance of 13 residential properties for which an IO had been
formed but no PMC was engaged. Three personality characteristics of MC
members were identified and examined in the survey, namely: a chairman’s
dedication, and members’ relevant skills and knowledge and their experience in
public office. Then correlation between performance and the characteristics was
tested. The results support that there is a significant moderate positive linear
relationship between performance and the skills and knowledge of MC members
gained in a field relating to property management. However, a correlation with
performance was not observed with respect to the rest of the characteristics, or if a
correlation was observed, it was not significant.
One implication of this study is that individual IOs may consider appointing
professionals with the relevant skills and knowledge to advise and work closely
with MCs, especially properties without engaging a PMC. Another implication is
that the government may mandate that property management practitioners be
equipped with the relevant skills and knowledge so that PMCs engaged by IOs are
able to help owners improve building management performance.
|
Degree | Master of Housing Management |
Subject | Housing management - China - Hong Kong |
Dept/Program | Housing Management |
Persistent Identifier | http://hdl.handle.net/10722/309721 |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Cheung, Ka Yin Kevin | - |
dc.contributor.author | 張嘉賢 | - |
dc.date.accessioned | 2022-01-05T14:57:27Z | - |
dc.date.available | 2022-01-05T14:57:27Z | - |
dc.date.issued | 2020 | - |
dc.identifier.citation | Cheung, K. Y. K. [張嘉賢]. (2020). Endogenous factors affecting the performance of owners' corporations. (Thesis). University of Hong Kong, Pokfulam, Hong Kong SAR. | - |
dc.identifier.uri | http://hdl.handle.net/10722/309721 | - |
dc.description.abstract | Hong Kong’s housing stock is predominately in the form of multi-owned buildings (MOBs) and often plagued by the problems of collective action. The HKSAR government has been encouraging owners to incorporate themselves into a legal entity called owners’ corporations (IOs) under the Building Management Ordinance (Cap. 344) to take part in the management of their properties. Previous studies indicate that engaging a property management company (PMC) is helpful in alleviating some of the problems of collective action and yet, for some reasons, about 22% of private buildings in Hong Kong are managed by IOs without the assistance of a PMC. Apart from its nature being a collective action with the inherent problems of over-exploitation and free riding, managing a MOB without engaging a PMC is a difficult venture, given the complex operating environment and a plethora of applicable regulatory regimes. Obviously, some of these IOs perform better than others. What makes these IOs more successful? Since the actual work of an IO is carried out by members of its management committee (MC), one may hypothesize that the personality characteristics of the members (e.g. dedication, legal knowledge, prior public office experience) may affect the performance of IOs. If this is the case, to what extent do these personality characteristics, among other endogenous factors, affect the performance of an IO? The answers to the above questions are significant in that if the performance of an IO depends on the personality characteristics possessed by the members of the MC, then perhaps more can be done to ensure that these characteristics are replicated and made available to assist IOs in building management. This study used a structured questionnaire survey to measure building management performance of 13 residential properties for which an IO had been formed but no PMC was engaged. Three personality characteristics of MC members were identified and examined in the survey, namely: a chairman’s dedication, and members’ relevant skills and knowledge and their experience in public office. Then correlation between performance and the characteristics was tested. The results support that there is a significant moderate positive linear relationship between performance and the skills and knowledge of MC members gained in a field relating to property management. However, a correlation with performance was not observed with respect to the rest of the characteristics, or if a correlation was observed, it was not significant. One implication of this study is that individual IOs may consider appointing professionals with the relevant skills and knowledge to advise and work closely with MCs, especially properties without engaging a PMC. Another implication is that the government may mandate that property management practitioners be equipped with the relevant skills and knowledge so that PMCs engaged by IOs are able to help owners improve building management performance. | - |
dc.language | eng | - |
dc.publisher | The University of Hong Kong (Pokfulam, Hong Kong) | - |
dc.relation.ispartof | HKU Theses Online (HKUTO) | - |
dc.rights | The author retains all proprietary rights, (such as patent rights) and the right to use in future works. | - |
dc.rights | This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License. | - |
dc.subject.lcsh | Housing management - China - Hong Kong | - |
dc.title | Endogenous factors affecting the performance of owners' corporations | - |
dc.type | PG_Thesis | - |
dc.description.thesisname | Master of Housing Management | - |
dc.description.thesislevel | Master | - |
dc.description.thesisdiscipline | Housing Management | - |
dc.description.nature | published_or_final_version | - |
dc.date.hkucongregation | 2020 | - |
dc.identifier.mmsid | 991044434931203414 | - |