Usage of Technological Facilities in Service Sector Firms and Floor Space Per Employee : Evidence from Hong Kong

Wadu Mesthrige Jayantha, Sivaguru Ganesan, Stephen Siu Yu Lau, Kwok Chun Wong. Chau Kwong Wing 서울시립대학교 도시과학연구원 2006 International journal of urban sciences (IJUS) Vol. No.

This paper presents new empirical evidence about the determinants of space per employee in office sector firms in Hong Kong. The paper hypothesises that usage of technological equipment and facilities lead to increase the space per employee ratio, apart from other factors identified in literature. The above hypothesis was tested through a regression model and an ANOVA analysis based on a sample survey of FIRE and business service sector firms in Hong Kong. The growth in the use of technological equipment and facilities exert a strong positive influence on space usage per employee. In Hong Kong, significant differences in the floor space per employee ratio are seen across different firms: financial and business service sector firms use relatively larger amounts of floor-space per employee compared to all other sub sectors. The overall explanatory power of the regression model was somewhat limited; this indicates that factors related to business organisation and work patterns, land supply and building densities, construction productivity and cost, and other location related factors, should also be studied in order to understand overall trends in space usage per employee.

The effect of urban redevelopment on retail shopping property values: a case study in Hong Kong

Wadu Mesthrige Jayantha,Chu Chun Ming 서울시립대학교 도시과학연구원 2015 도시과학국제저널 Vol.19 No.3

Purpose – Redevelopment, an essential aspect of the urban regeneration process, brings positive externalities to neighbourhoods. This study evaluates the effect of the improvements of neighbourhoods, brought about by redevelopment, on nearby ground-floor retail shopping property values. This study uses a hedonic price model to determine whether there is a relationship between redevelopment work and nearby shopping property values and the influence of neighbourhood improvements on the price of shopping properties if there is such relationship. The analysis is based on three large-scale redevelopment projects, each having a commercial space ranging from 30,000 to 50,000 sq.ft. The results show that an improved neighbourhood environment brings significant value enhancement to nearby shopping properties. Potential tenants are willing to pay a sale rental price premium ranging from 13% to 34% on shops located near redeveloped areas. The results also reveal that potential shop tenants are willing to pay a premium of 0.1% more on a shop with a cockloft. These findings imply that a neighbourhood environment that has been improved through well-planned redevelopment projects adds value to nearby properties. This study contributes an indication of the amount a tenant or buyer would be willing to pay on shops near redeveloped areas and can be used as a reference for users, developers and investors.

JNM : Original Article ; Gastric Motility Following Ingestion of a Solid Meal in a Cohort of Adult Asthmatics

( Wadu Arachchige Dharshika Lakmali Amarasiri ),( Arunasalam Pathmeswaran ),( Arjuna Priyadharshin De Silva ),( Anuradha Supun Dassanayake ),( Channa Dhammika Ranasinha ),( Hithanadura Janaka De Silva 대한소화기기능성질환·운동학회(구 대한소화관운동학회) 2013 Journal of Neurogastroenterology and Motility (JNM Vol.19 No.3

Background/Aims Asthmatics have abnormal esophageal motility and increased prevalence of gastroesophageal reflux disease (GERD). The contribution of gastric motility is less studied. We studied gastric myoelectrical activity, gastric emptying (GE) and their association with GERD symptoms and vagal function in adult asthmatics. Methods Thirty mild, stable asthmatics and 30 healthy controls underwent real-time ultrasonography and 1 hour pre- and post prandial cutaneous electrogastrography, following a test meal (480 kcal, 60% carbohydrate, 20% protein, 20% fat and 200 mL water). The percentage of normal slow waves and arrhythmias, dominant frequency and power, frequency of antral contractions, gastric emptying rate (GER) and antral motility index (MI) was calculated. Twenty-seven asthmatics underwent gastroscopy and in all subjects GERD symptoms were assessed by a validated questionnaire. Vagal function parameters were correlated with gastric motility parameters. Results The asthmatics (37% male; 34.8 ± 8.4 years) and controls (50% male; 30.9 ± 7.7 years) were comparable. None had endoscopic gastric pathological changes. Twenty asthmatics described GERD symptoms. Twenty-two (73.3%) asthmatics showed a hypervagal response. Compared to controls, asthmatics had delayed GER and lower MI, lower percentage of normal gastric slow waves, more gastric dysrythmias and failed to increase the post-prandial dominant power. There was no correlation of GE and cutaneous electrogastrography parameters with presence of GERD symptoms or with vagal function. Conclusions Asthmatics showed abnormal gastric myoelectrical activity, delayed GE and antral hypomotility in response to a solid meal compared to controls. There was no association with vagal function or GERD symptom status. (J Neurogastroenterol Motil 2013; 19:355-365)

Causality Relationship between Housing Prices and Construction Costs

Wadu Mesthrige Jayantha,Stephen S.Y. Lau 서울시립대학교 도시과학연구원 2008 도시과학국제저널 Vol.12 No.2

The present study hypothesizes that the relationship between housing prices and construction costs is a dynamic long-term relationship. Results from an error correction model (ECM) and a standard causality model support the hypothesis that it is a lead-lag relationship. Results also suggest that construction costs do not lead to changes in housing prices, instead housing prices lead to changes in construction costs. The ECM result also suggests that the Hong Kong housing market is efficient because deviations between construction costs and housing prices disappear in the long-term equilibrium. If there is a short-run housing price shock, it is able to make quick adjustments and return to the long-term equilibrium level. This finding provides new insight into the housing market analysis, especially with respect to the supply side.

Growth of Service Firms and Its Impact on Office Location : The Case of Hong Kong

Wadu Mesthrige Jayantha, Lau Stephen Siu Yu 서울시립대학교 도시과학연구원 2007 International journal of urban sciences (IJUS) Vol. No.

Changes in locations of FIRE and business services firms in Hong Kong during 1980-2000 could be characterized by trends of both centralization and decentralization. A heavy concentration of finance firms in the CBD is highly significant, implying the presence of strong forces promoting the spatial concentration of the finance firms. Insurance and business service firms tend to locate mainly in areas adjoining the CBD in order to enjoy the externalities or support services, which CBD offers. Volatility in rents has also provided opportunities for firms to relocate within the CBD at lower cost. In contrast, real estate firms tend to decentralize away from Hong Kong Island due to cheaper rents. The important finding of the sample survey analysis is that non-traditional factors such as office buildings with IT facilities have emerged as dominant factors determining choice of location. For instance, during the survey period, finance firms considered office buildings with IT facilities as the most important factor, while business service firms considered sufficient floor-space as the second most important factor after rent in choosing the present location.

Growth of Advanced Service Firms and Usage of Quality Office Space : The Case of Hong Kong

Wadu Mesthrige Jayantha, Lau. Stephen Siu Yu, Sivaguru Ganesan, Kwok Chun Wong, Chau Kwong Wing 서울시립대학교 도시과학연구원 2007 International journal of urban sciences (IJUS) Vol. No.

This paper examines the impact of the expanding service sector in Hong Kong upon the increasing quality of office space demanded. Two measures are used to represent quality: increased usage of IT facilities in offices; and increased space per employee. The main result is that there is a significant correlation between growth of the service sector, as represented by the FIRB sector, and demand for better quality space. However, not all of the firms in the FIRB sector use/demand high quality space. The finance, business services and technology firms in Hong Kong have invested relatively heavily in IT facilities, and have also gained a higher growth relative to those with less investment in IT. Insurance and real estate firms use relatively less IT facilities. Growth of the service sector has also influenced the space usage pattern in Hong Kong. The causality analysis shows that provision of higher quality office space attracts new users.

Influence of Firm Size, Age and Usage of IT on the Growth of Firms : Some Evidence from Hong Kong’s Service Sector

Wadu Mesthrige Jayantha, Lau, Stephen Siu Yu, K.W. Chau., Sivaguru Ganesan 서울시립대학교 도시과학연구원 2007 International journal of urban sciences (IJUS) Vol. No.

The study uses a sample of FIRB sector firms in Hong Kong to examine some aspects of firm dynamics and characteristics. The most important finding from the model is that usage of information technology (IT) is one of the key factors that explain the variation of growth of modern firms. It also finds that firm size is an important determinant of firm growth: the smaller the firm size, the greater the firm growth. Gilbrat’s Law therefore fails, and this finding is consistent with pioneering works of Evans (1987) and Hall (1987). Indicating a close relationship between the usage of IT and the increasing trend of knowledge-based employees in firms, it is also found that skilled employees exert a relatively positive influence on the growth of firm. This finding may be indicative of the situation where new working practices such as team working is practiced, where group space is important rather than permanent territorial offices, where groups of skilled professionals can work together with relatively efficient space usage. Results, however, confirm that location of the firm does not play an important role for the growth.

The Effects of Urban Redevelopment on Neighbourhood Housing Prices

Chiu On Ki,Wadu Mesthrige Jayantha 서울시립대학교 도시과학연구원 2010 도시과학국제저널 Vol.14 No.3

The topic of neighbourhood improvement is central to residential appraisal. The study empirically investigates how the redevelopment affects the housing values in the vicinity. Using price gradient approach based on hedonic pricing model, we study the effects of an urban redevelopment project on housing property prices during the pre-redevelopment stage, construction stage and post-redevelopment stage. The results show that there were significant increases in property prices between before implementation and after completion of the redevelopment project. Property value enhancements well ahead of the actual project completion are also observed. It suggests that redevelopment has brought overall improvements to the surrounding properties and the expectation of these advantages was taken into consideration in the pricing of the properties during the construction phase. In addition, the changes in housing price gradients reveal that the effects of redevelopment varied with proximity between the properties and the redeveloped site. Properties which have the closest proximity with the redevelopment are found to have experienced greater increase in price after redevelopment but less extent of price rise during construction. It is important for urban planners to carefully consider the externalities of redevelopment received by properties in different locations, in order to maximize the positive impacts of redevelopment on the neighbourhood.