FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W3133678346> ?p ?o ?g. }

• W3133678346 abstract "Presale is a popular method for selling residential properties and an important risk-sharing instrument for both homebuyers and developers. However, in Hong Kong’s presale housing market from 1996 to 2014, over 10% of the presale contracts were rescinded, resulting in an aggregate loss of HKD 436.67 million per year. In this study, we examine the rescission of presale contracts from a novel perspective with respect to option theory. We find that the moneyness of presale contracts, defined as the market price at settlement over the contract price, is negatively associated with the contract rescission rate. Specifically, contracts that are out of the money (i.e., the market price is less than the remaining payment) at settlement have a 12.2% higher rescission rate than the average. The presale call option delta and time to maturity at the purchase time positively predict rescission, which indicates a higher rescission rate when the buyer shares more of the price and time-induced risk. The Hong Kong government’s housing market macroprudential measures lead to significantly lower rescission rates. In addition, we find that lower moneyness at settlement leads to longer holding periods after settlement, which indicates that presale option features continue to influence the buyers’ behaviour after settlement due to the disposition effect. Overall, our findings shed light on understanding the presale market mechanism, the buyers’ strategic default behaviour, and the government’s role in curbing speculation and reducing the costs induced by presale rescission." @default.
• W3133678346 created "2021-03-15" @default.
• W3133678346 creator A5015154627 @default.
• W3133678346 creator A5053665637 @default.
• W3133678346 creator A5084003803 @default.
• W3133678346 date "2020-01-01" @default.
• W3133678346 modified "2023-09-27" @default.
• W3133678346 title "Contract Rescission in the Real Estate Presale Market" @default.
• W3133678346 cites W1531490793 @default.
• W3133678346 cites W1581030135 @default.
• W3133678346 cites W1589913431 @default.
• W3133678346 cites W1758358206 @default.
• W3133678346 cites W1872214821 @default.
• W3133678346 cites W1963951988 @default.
• W3133678346 cites W1975204421 @default.
• W3133678346 cites W1992741137 @default.
• W3133678346 cites W1993089283 @default.
• W3133678346 cites W1998674414 @default.
• W3133678346 cites W2000856734 @default.
• W3133678346 cites W2009628448 @default.
• W3133678346 cites W2023142361 @default.
• W3133678346 cites W2039237186 @default.
• W3133678346 cites W2039527466 @default.
• W3133678346 cites W2060032353 @default.
• W3133678346 cites W2063513665 @default.
• W3133678346 cites W2077791698 @default.
• W3133678346 cites W2082577868 @default.
• W3133678346 cites W2089215424 @default.
• W3133678346 cites W2092852504 @default.
• W3133678346 cites W2099227715 @default.
• W3133678346 cites W2103636700 @default.
• W3133678346 cites W2121058553 @default.
• W3133678346 cites W2123606462 @default.
• W3133678346 cites W2152993769 @default.
• W3133678346 cites W2157323155 @default.
• W3133678346 cites W2467235807 @default.
• W3133678346 cites W2747362939 @default.
• W3133678346 cites W2769285082 @default.
• W3133678346 cites W2805202841 @default.
• W3133678346 cites W3011865677 @default.
• W3133678346 cites W3021101003 @default.
• W3133678346 cites W3022057538 @default.
• W3133678346 cites W3121207530 @default.
• W3133678346 cites W3121335605 @default.
• W3133678346 cites W3121611131 @default.
• W3133678346 cites W3121706020 @default.
• W3133678346 cites W3122278296 @default.
• W3133678346 cites W3122430187 @default.
• W3133678346 cites W3122912258 @default.
• W3133678346 cites W3123132592 @default.
• W3133678346 cites W3123137915 @default.
• W3133678346 cites W3123256822 @default.
• W3133678346 cites W3123303441 @default.
• W3133678346 cites W3124033479 @default.
• W3133678346 cites W3124176748 @default.
• W3133678346 cites W3124251162 @default.
• W3133678346 cites W3124428229 @default.
• W3133678346 cites W3124506475 @default.
• W3133678346 cites W3124568606 @default.
• W3133678346 cites W3124900200 @default.
• W3133678346 cites W3125137378 @default.
• W3133678346 cites W3125951650 @default.
• W3133678346 doi "https://doi.org/10.2139/ssrn.3738130" @default.
• W3133678346 hasPublicationYear "2020" @default.
• W3133678346 type Work @default.
• W3133678346 sameAs 3133678346 @default.
• W3133678346 citedByCount "0" @default.
• W3133678346 crossrefType "journal-article" @default.
• W3133678346 hasAuthorship W3133678346A5015154627 @default.
• W3133678346 hasAuthorship W3133678346A5053665637 @default.
• W3133678346 hasAuthorship W3133678346A5084003803 @default.
• W3133678346 hasConcept C10138342 @default.
• W3133678346 hasConcept C106159729 @default.
• W3133678346 hasConcept C144133560 @default.
• W3133678346 hasConcept C162118730 @default.
• W3133678346 hasConcept C162324750 @default.
• W3133678346 hasConcept C190253527 @default.
• W3133678346 hasConcept C2780720752 @default.
• W3133678346 hasConcept C82279013 @default.
• W3133678346 hasConceptScore W3133678346C10138342 @default.
• W3133678346 hasConceptScore W3133678346C106159729 @default.
• W3133678346 hasConceptScore W3133678346C144133560 @default.
• W3133678346 hasConceptScore W3133678346C162118730 @default.
• W3133678346 hasConceptScore W3133678346C162324750 @default.
• W3133678346 hasConceptScore W3133678346C190253527 @default.
• W3133678346 hasConceptScore W3133678346C2780720752 @default.
• W3133678346 hasConceptScore W3133678346C82279013 @default.
• W3133678346 hasLocation W31336783461 @default.
• W3133678346 hasOpenAccess W3133678346 @default.
• W3133678346 hasPrimaryLocation W31336783461 @default.
• W3133678346 hasRelatedWork W1107732992 @default.
• W3133678346 hasRelatedWork W2348461188 @default.
• W3133678346 hasRelatedWork W2353893933 @default.
• W3133678346 hasRelatedWork W2376807575 @default.
• W3133678346 hasRelatedWork W2381765238 @default.
• W3133678346 hasRelatedWork W2560256317 @default.
• W3133678346 hasRelatedWork W2914444204 @default.
• W3133678346 hasRelatedWork W3147422925 @default.
• W3133678346 hasRelatedWork W3194946961 @default.
• W3133678346 hasRelatedWork W4242185074 @default.

• next