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Article
Publication date: 19 February 2024

Benjamin Kwakye and Tze-Haw Chan

Market sentiment has shown to influence housing prices in the global north, but in emerging economies, the nexus is rare to chance on in the current state of science for policy…

Abstract

Purpose

Market sentiment has shown to influence housing prices in the global north, but in emerging economies, the nexus is rare to chance on in the current state of science for policy direction. More importantly in the recent decade where policymakers are yet to conclude on the myriad of factors confronting the housing market in sub-Saharan Africa inhibiting affordability. This paper therefore examines the impact of market sentiment on house prices in South Africa.

Design/methodology/approach

The study used the Autoregressive Distributed Lag (ARDL) approach with quarterly data spanning from 2005Q1 to 2020Q4.

Findings

In all, it was established that market sentiment plays a minimal role in the property market in South Africa. But there was enough evidence of cointegration from the bound test between sentiment and house prices. Nevertheless, the lag values of sentiment pointed to a rise in house prices. Exchange rate volatilities and inflation had a statistically significant effect on prices in both the long and short term, respectively.

Research limitations/implications

Policymakers could still monitor market sentiment in the housing market due to the strong chemistry between house prices and sentiment, as evidenced from the bound test, but focus on economic fundamentals as the main policy tool for house price reduction.

Originality/value

The findings and the creation of the sentiment index make an invaluable contribution to the paper and add to the paucity of literature on the study of market sentiment in the housing market.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 9 January 2024

Benjamin Kwakye and Tze-Haw Chan

The primary aim of this paper is to concurrently use the data types to enhance econometric analysis in the housing market in developing countries, particularly Namibia.

Abstract

Purpose

The primary aim of this paper is to concurrently use the data types to enhance econometric analysis in the housing market in developing countries, particularly Namibia.

Design/methodology/approach

Scholarly discussions on econometric analysis in the housing market in sub-Saharan Africa suggest that the inadequacy of time series data has impeded studies of such nature in the region. Hence, this paper aims to comparatively analyse the impact of economic fundamentals on house prices in Namibia using real and interpolated data from 1990 to 2021 supported by the ARDL model.

Findings

It was discovered that in all the three types of data house prices were affected by fundamentals except real GDP in the long term. It was also noted that there were not much significant variations between the real data and the interpolated data frequencies. However, the results of the annual data and the semi-annual interpolated data were more analogously comparable to the quarterly interpolated data

Practical implications

It is suggested that the adoption of interpolated data frequency type should be based on the statistical significance of the result. In addition, the need to monitor the nexus of the housing market and fundamentals is necessary for stable and sustainable housing market for enhanced policy direction and prudent property investment decision.

Originality/value

The study pioneer to concurrently use the data types to enhance econometric analysis in the housing market in developing countries.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 23 April 2019

Samuel Kwaku Agyei and Benjamin Yankey

The purpose of this paper is to assess the motivations of timber firms in Ghana to undertake environmental accounting and reporting (EAR) and the perceived benefits from it.

Abstract

Purpose

The purpose of this paper is to assess the motivations of timber firms in Ghana to undertake environmental accounting and reporting (EAR) and the perceived benefits from it.

Design/methodology/approach

Survey method involving primary data from a census of 13 timber firms in Kumasi (Ghana) and descriptive statistics including Kendall’s coefficient were used to analyze the perceptions of practitioners on EAR.

Findings

The study offered support for the political economy, legitimacy and stakeholder theories generally applied to the study of EAR. Specifically, the study concluded that EAR is common to timber firms in Ghana. Pressure from government, media, shareholders’ influence and the existence of environmental committee or department in the company are perceived to influence timber firms’ level of environmental disclosure. Meanwhile, perceived benefits from EAR include fostering cordial relationship between timber firms and the society, preventing government fines and improving firm reputation.

Research limitations/implications

The presence of biases in the responses of survey method studies can be difficult to eliminate. However, given the benefits associated with getting practitioners views on EAR and the reliability/validity procedures that the instruments and respondents were subjected to, this weakness was reduced to its barest minimum.

Practical implications

The study recommends that governments should adopt green tax policy to encourage EAR while regulatory bodies make EAR mandatory.

Originality/value

This study contributes to the discussion on EAR from the perspective of practitioners in the timber industry of Ghana, which has been neglected in previous studies.

Details

Journal of Accounting in Emerging Economies, vol. 9 no. 2
Type: Research Article
ISSN: 2042-1168

Keywords

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