Icing on the cake : Can the Top-Floor Units serve as a status good and an investment simultaneously?

Material type: 文書・図像類

Author: Tang, Edward Chi Hoほか

Publisher: The Institute of Social and Economic Research, Osaka University

Publication date: 2024-09

Material Format: Paper

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Note (General)：: Situated atop condominium buildings, 'top floor units' (TFU) offer unparalleled views and privacy, courtesy of accessible roofs. This paper empiricall...

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Paper

Material Type: 文書・図像類
Title: Icing on the cake : Can the Top-Floor Units serve as a status good and an investment simultaneously?
Author/Editor: Tang, Edward Chi Ho
Leung, Charles Ka Yui
Author Heading: Tang, Edward Chi Ho
Leung, Charles Ka Yui
Publication, Distribution, etc.: The Institute of Social and Economic Research, Osaka University
Publication Date: 2024-09
Publication Date (W3CDTF): 2024-09
Periodical title: Institute of Social and Economic Research Discussion Papers
No. or year of volume/issue: 1252
Volume: 1252
Pages: 1-119
ISSN (Periodical Title): PISSN : 0473453X
EISSN : 24350982
Text Language Code: eng
Subject Heading: top floor units
peer group effect on consumption
speculation
submarkets
Markov switching model
Target Audience: 一般
Note (General): Situated atop condominium buildings, 'top floor units' (TFU) offer unparalleled views and privacy, courtesy of accessible roofs. This paper empirically examines this status symbol and finds that: (1)TFUs interact with the macroeconomy differently from ordinary units, (2)when considering the liquidity factor, TFUs should not be included in the portfolio, (3)the trade-off between holding period and annualized return for TFUs significantly differs from ordinary units, suggesting alternative investment strategies are employed for TFUs, and (4)the liquidity of the TFU segment is less stable than ordinary units, potentially deterring short-term speculators.
References (URI): URI
https://www.iser.osaka-u.ac.jp/library/dp/2024/DP1252.pdf
Data Provider (Database): 国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）
https://irdb.nii.ac.jp
Original Data Provider (Database): 大阪大学 : 大阪大学学術情報庫　桜華