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Costa, D B and Formoso, C T (2004) A set of evaluation criteria for performance measurement systems in the construction industry. Journal of Financial Management of Property and Construction, 9(02), 91–102.

Dickinson, H and Swaffield, L (2004) Implementing a segregation-based waste management system on site - does it reduce site waste disposal costs?. Journal of Financial Management of Property and Construction, 9(02), 75–90.

Gruneberg, S and Hughes, W (2004) Analysing the types of procurement used in the UK: a comparison of two data sets. Journal of Financial Management of Property and Construction, 9(02), –74.

Wadu Mesthrige Jayantha, Ganesan, S, Lau, S S Y, Wong, K C and Chau, K W (2004) Growth of finance, insurance and real estate (FIRE) and office space absorption in Hong Kong. Journal of Financial Management of Property and Construction, 9(02), 103–17.

  • Type: Journal Article
  • Keywords: absorption; completion; cointegration; ECM; Hong Kong
  • ISBN/ISSN: 1366-4387
  • URL: http://www.emeraldinsight.com/journals.htm?issn=1366-4387
  • Abstract:
    Using causality analysis based on co-integration and ECM, the study attempts to determine if there is a long-term equilibrium contemporaneous relationship between the growth of the FIRE and business service sector and private office space absorption in Hong Kong. The usage of office space absorption instead of office completion, as a dependent variable, leads to a stronger long-run relationship with the service sector expansion, especially the FIRE and business services sector. Using a bi-variate estimation procedure of the ECM, as expected, growth of FIRE sector leads to greater use of office space while increased supply of office has no statistical influence on the growth in FIRE firms. The findings from this study provide a more accurate base for forecasting office needs.