Institutions in property market operation : a case study of the Johor Bahru industrial property market

The property market is affected by the rules and it forms an important aspect in understanding the operation of the property market. This research investigates the functions of institutions in property markets operations. It examines the operation of the Johor Bahru industrial property markets in de...

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Main Author:	Kamarudin, Norhaya
Format:	Thesis
Language:	English
Published:	2004
Subjects:	HD61 Risk Management
Online Access:	http://eprints.utm.my/id/eprint/6674/1/NorhayaKamarudinPFABU2004.pdf
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id	my-utm-ep.6674
record_format	uketd_dc
spelling	my-utm-ep.66742018-09-22T08:22:32Z Institutions in property market operation : a case study of the Johor Bahru industrial property market 2004-01 Kamarudin, Norhaya HD61 Risk Management The property market is affected by the rules and it forms an important aspect in understanding the operation of the property market. This research investigates the functions of institutions in property markets operations. It examines the operation of the Johor Bahru industrial property markets in determining the organizations, performance and pattern of the property market activities. The philosophy of the research is based on the characteristics of the property market, which is information inefficient, decentralised and subjected to local laws and customs. These are best captured by the institutional economic approach, which defines institutions as 'rules of the game' for agents' network of relationship. Adopting the institutional framework of analysis, the research analyses the evolutionary changes in organizational form, performance and activities that emerged. The effect of institutions on the organizations of the property market is traced through the changing forms of the property market, which changes fiom an undeveloped market to a developed form to cater for a complex investment and use purposes. The economic and political influences are the main driving force shaping these changes and it forms the environment in which institutions are created. Consequently the changing form of property market organizations has also affected the performance of the industrial property market where the rise and fall of property values are the outcomes of the decisions of agents' interaction from the changing institutional structure. Findings also indicate that economic and policy influences have affected use, investment and development activities of the industrial property market. Changing industrial policy has given rise to small-scale industries, which attracts commercial property developers to construct flexible standard factory buildings. This has also change the market from a purely use market to an emerging investment market. Thus institutions have an important role in understanding how the property market operates as it determines property market behaviour. 2004-01 Thesis http://eprints.utm.my/id/eprint/6674/ http://eprints.utm.my/id/eprint/6674/1/NorhayaKamarudinPFABU2004.pdf application/pdf en public http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:62363 phd doctoral Universiti Teknologi Malaysia, Faculty of Geoinformation Science and Engineering Faculty of Geoinformation Science and Engineering
institution	Universiti Teknologi Malaysia
collection	UTM Institutional Repository
language	English
topic	HD61 Risk Management
spellingShingle	HD61 Risk Management Kamarudin, Norhaya Institutions in property market operation : a case study of the Johor Bahru industrial property market
description	The property market is affected by the rules and it forms an important aspect in understanding the operation of the property market. This research investigates the functions of institutions in property markets operations. It examines the operation of the Johor Bahru industrial property markets in determining the organizations, performance and pattern of the property market activities. The philosophy of the research is based on the characteristics of the property market, which is information inefficient, decentralised and subjected to local laws and customs. These are best captured by the institutional economic approach, which defines institutions as 'rules of the game' for agents' network of relationship. Adopting the institutional framework of analysis, the research analyses the evolutionary changes in organizational form, performance and activities that emerged. The effect of institutions on the organizations of the property market is traced through the changing forms of the property market, which changes fiom an undeveloped market to a developed form to cater for a complex investment and use purposes. The economic and political influences are the main driving force shaping these changes and it forms the environment in which institutions are created. Consequently the changing form of property market organizations has also affected the performance of the industrial property market where the rise and fall of property values are the outcomes of the decisions of agents' interaction from the changing institutional structure. Findings also indicate that economic and policy influences have affected use, investment and development activities of the industrial property market. Changing industrial policy has given rise to small-scale industries, which attracts commercial property developers to construct flexible standard factory buildings. This has also change the market from a purely use market to an emerging investment market. Thus institutions have an important role in understanding how the property market operates as it determines property market behaviour.
format	Thesis
qualification_name	Doctor of Philosophy (PhD.)
qualification_level	Doctorate
author	Kamarudin, Norhaya
author_facet	Kamarudin, Norhaya
author_sort	Kamarudin, Norhaya
title	Institutions in property market operation : a case study of the Johor Bahru industrial property market
title_short	Institutions in property market operation : a case study of the Johor Bahru industrial property market
title_full	Institutions in property market operation : a case study of the Johor Bahru industrial property market
title_fullStr	Institutions in property market operation : a case study of the Johor Bahru industrial property market
title_full_unstemmed	Institutions in property market operation : a case study of the Johor Bahru industrial property market
title_sort	institutions in property market operation : a case study of the johor bahru industrial property market
granting_institution	Universiti Teknologi Malaysia, Faculty of Geoinformation Science and Engineering
granting_department	Faculty of Geoinformation Science and Engineering
publishDate	2004
url	http://eprints.utm.my/id/eprint/6674/1/NorhayaKamarudinPFABU2004.pdf
_version_	1747814685655171072

Institutions in property market operation : a case study of the Johor Bahru industrial property market

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