How transaction costs affect real estate developers entering into the building energy efficiency (BEE) market?

Qian, Queena K.; Chan, Edwin H.W.; Choy, Lennon H.T.

doi:10.1016/j.habitatint.2011.12.005

Cited by 35 publications

(18 citation statements)

References 19 publications

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“…Different types of stakeholders have participated in the GB implementation. For instance, Chan, et al [12] explored the critical factors influencing GB investment from the perspective of building designers in Hong Kong and Singapore and from the developers [13,14]. Moreover, earlier studies [6,15,16] affirmed that clients and customers or tenants were identified to have utmost influence in GB promotion.…”

Section: Introductionmentioning

confidence: 99%

Investigating Young Consumers’ Purchasing Intention of Green Housing in China

et al. 2018

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The issues of energy crisis, environmental degradation, and climate change present a severe challenge to the sustainable development in China. The development of green building (GB) is considered one of the most popular strategies toward a sustainable construction industry. Apart from advanced green technologies, consumers' purchasing intention toward green housing (GH) plays a crucial role in the large-scale promotion of GB. However, which determinants significantly affect consumers' purchasing intention remain unclear, especially for the young generation in developing countries. This study attempts to investigate young consumers' purchasing intention of GH in China. On the basis of extended theory of planned behavior (TPB), seven constructs are identified, and nine hypotheses are proposed. A total of 241 responses were collected from the questionnaire survey, and structural equation modeling was employed to test the proposed hypotheses. Governmental incentives are affirmed to be the most important determinant, followed by consumers' attitude toward behavior and subjective norm. Perceived behavioral control is an insignificant determinant for young consumers to purchase GH. In addition, subjective knowledge has an indirect effect through attitude toward behavior. Environmental concern also confirms an indirect effect through attitude toward behavior and subjective norm toward purchasing intention, respectively. Thus, the government is implied to play a crucial role in GH promotion at this stage.

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Section: Introductionmentioning

confidence: 99%

Investigating Young Consumers’ Purchasing Intention of Green Housing in China

et al. 2018

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“…It is assumed that underlying reasons prevent or inhibit the GB market from realizing this implementation and this raises the question of whether the current incentives are appropriate and sufficient to act as drivers for the take-up of energy-efficient buildings. The objectives for instituting GB incentives (Ocampo, 2011;Qian, Chan, & Choy, 2013) are:…”

Section: Introductionmentioning

confidence: 99%

Regulatory incentives for green buildings: gross floor area concessions

Qian

Fan

Chan

2016

Building Research & Information

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Incentive schemes formed by regulatory or administrative instruments are measures to promote green building (GB) and increase the motivation of developers to meet higher standards. The hidden costs to different stakeholders during the GB transaction are often ignored. Understanding these hidden transaction costs (TCs) helps appraise the costs and benefits of GB and policy effectiveness. The example of a gross floor area (GFA) concession scheme is used systematically to explore and understand the fundamental issues of TCs' typology and chronology in the GB development process. The GFA concession scheme is a popular incentive due to its indirect compensation to developers by allowing additional floor area without expenditure by government to implement GBs. A TCs' framework is used critically to review and evaluate the costs and benefits of the GFA concession scheme. Its particular implementation in both Hong Kong and Singapore is explored. Hong Kong is used as a case study, complemented with in-depth expert interviews on GFA concession in Hong Kong. The key contribution is to establish the parameters for estimating the optimum GFA bonus that could both motivate various stakeholders and minimize the negative impacts on the built environment in future.

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“…Transaction costs associated with the implementation of energy efficiency projects typically arise as a result of searching for and assessing information, project preparation, finding partners, contracting, persuading, negotiating and coordinating with partners, decision-making, implementing and following-up investment actions, for example, through maintenance or validating data. For more information on transaction costs on searching for and assessing information see Björkqvist and Wene (1993), Hein and Blok (1995), Mundaca and Neij (2007), Sanstad and Howarth (1994), Sathaye and Murtishaw (2004), Sioshansi (1991), for project preparation, see BleylAndroschin, Seefeldt and Eikmeier (2009), for finding partners, contracting, and persuading, see Mundaca (2007), for negotiating with and coordinating partners, see Bleyl-Androschin, et al (2009), Mundaca (2007, Ostertag (1999), for decision-making, see see Björkqvist and Wene (1993), Hein and Blok (1995), for implementing and following-up investment actions, see Bleyl-Androschin, et al (2009), Hein and Blok (1995), Mundaca (2007), Qian, Chan and Choy (2013), Sathaye and Murtishaw (2004), for maintenance, see Ostertag (1999) and for validating data, see Mundaca (2007). The research focus of transaction costs, according to existing literature, has been mostly on industry, i.e.…”

Section: Transaction Costsmentioning

confidence: 99%

Exploring transaction costs in passive house-oriented retrofitting

Kiss

2016

Journal of Cleaner Production

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How transaction costs affect real estate developers entering into the building energy efficiency (BEE) market?

Cited by 35 publications

References 19 publications

Investigating Young Consumers’ Purchasing Intention of Green Housing in China

Investigating Young Consumers’ Purchasing Intention of Green Housing in China

Regulatory incentives for green buildings: gross floor area concessions

Exploring transaction costs in passive house-oriented retrofitting

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