Institutional Efficiency of Commonhold Industrial Parks Using a Polynomial Regression Model
Based on assumptions of neo-classical economics and
rational choice / public choice theory, this paper investigates the
regulation of industrial land use in Taiwan by homeowners
associations (HOAs) as opposed to traditional government
administration. The comparison, which applies the transaction cost
theory and a polynomial regression analysis, manifested that HOAs
are superior to conventional government administration in terms of
transaction costs and overall efficiency. A case study that compares
Taiwan-s commonhold industrial park, NangKang Software Park, to
traditional government counterparts using limited data on the costs
and returns was analyzed. This empirical study on the relative
efficiency of governmental and private institutions justified the
important theoretical proposition. Numerical results prove the
efficiency of the established model.
[1] F. E. Foldvary, "Planning by freehold," Economic Affairs, vol. 25, pp.
11-15, 2005.
[2] F. F. Deng, "The rebound of private zoning: Property rights and local
governance in urban land use," Environment and Planning A, vol. 35,
pp. 133-149, 2003a.
[3] F. F. Deng, "Collective goods and the political hold-up problem,"
Journal of Institutional and Theoretical Economics, vol. 59, pp.
414-434, 2003b.
[4] L. O. Houston, Business Improvement District, Urban Land Institute,
Washington DC, 2003.
[5] R. C. Ellickson, "Cities and homeowners associations," University of
Pennsylvania Law Review, vol. 130, pp. 1519-1580, 1982.
[6] J.-W. Lin, Simon C.-Y. Chen, L.-S. Yang, and M.-J. Lai, "Institutional
efficiency of commonhold industrial parks," American Society of
Mechanical Engineers, PVP, Seismic Engineering, No.
PVP2008-61099, 2008.
[7] F. Cheung, "A study of probabilities in integrating all types of industrial
districts in Taiwan," National Policy Foundation Research Report,
Taipei, 2002.
[8] Sustainable Mechanism in Industrial Parks, IDB, Taipei, 2001.
[9] E. Buitelaar, "A transaction-cost analysis of the land development
process," Urban Studies, vol. 41, pp. 2539-2553, 2004.
[10] E. R. Alexander, "A transaction cost theory of planning," American
Planning Association Journal, vol. 58, pp. 190-200, 1992.
[11] E. R. Alexander, "A transaction-cost theory of land use planning and
development control: Towards the institutional analysis of public
planning," Town Planning Review, vol. 72, pp. 1-31, 2001.
[12] J.-W. Lin, "Adaptive algorithms for the identification of nonlinear
structural systems," Ph.D. dissertation, Columbia University, New York,
NY, 2001.
[13] J. L. Beck and L. S. Katafygiotis, "Updating models and their
uncertainties. i: Bayesian statistical framework," Journal of
Engineering Mechanics, vol. 124, pp. 455-461, 1998.
[14] D. M. Etter, Engineering Problem Solving with Matlab, Prentice-Hall,
New Jersey, 1993.
[15] N. E. Huang, Z. Shen, S. R. Long, M. C. Wu, H. H. Shih, Q. Zheng, N. C.
Yen, C. C. Tung, and H. H. Liu, "The empirical mode decomposition
and the Hilbert spectrum for nonlinear and non-stationary time series
analysis," Procedures of the Royal Society of London, vol. 454, pp.
903-995, 1998.
[16] D. S. Moore and G. P. McCabe, Introduction to the Practice of Statistics,
W.H. Freeman and Company, New York, 2005.
[17] J.-W. Lin and H.-J. Chen, "Repetitive identification of structural
systems using a nonlinear model parameter refinement approach,"
Shock and Vibration, vol. 16, no. 3, pp. 229-240, 2009.
[18] A. Juditsky, H. Hjalmarsson, A. Benveniste, B. Delyon, L. Ljung, J.
Sjöberg, and Q. Zhang, "Nonlinear black-box models in system
identification: Mathematical foundations," Automatica, vol. 31, no. 12,
pp. 1725-1750, 1995.
[19] M. Dodgson, J. Mathews, T. Kastelle, and M.-C Hu, "The evolving
nature of Taiwan-s national innovation system: The case of
biotechnology innovation networks," Research Policy, vol. 37, no. 3,
pp. 430-445, 2008.
[20] F. Malerba, "Sectoral systems: How and why innovation differs across
sectors," The Oxford Handbook of Innovation, Oxford University Press,
Oxford, 2005.
[1] F. E. Foldvary, "Planning by freehold," Economic Affairs, vol. 25, pp.
11-15, 2005.
[2] F. F. Deng, "The rebound of private zoning: Property rights and local
governance in urban land use," Environment and Planning A, vol. 35,
pp. 133-149, 2003a.
[3] F. F. Deng, "Collective goods and the political hold-up problem,"
Journal of Institutional and Theoretical Economics, vol. 59, pp.
414-434, 2003b.
[4] L. O. Houston, Business Improvement District, Urban Land Institute,
Washington DC, 2003.
[5] R. C. Ellickson, "Cities and homeowners associations," University of
Pennsylvania Law Review, vol. 130, pp. 1519-1580, 1982.
[6] J.-W. Lin, Simon C.-Y. Chen, L.-S. Yang, and M.-J. Lai, "Institutional
efficiency of commonhold industrial parks," American Society of
Mechanical Engineers, PVP, Seismic Engineering, No.
PVP2008-61099, 2008.
[7] F. Cheung, "A study of probabilities in integrating all types of industrial
districts in Taiwan," National Policy Foundation Research Report,
Taipei, 2002.
[8] Sustainable Mechanism in Industrial Parks, IDB, Taipei, 2001.
[9] E. Buitelaar, "A transaction-cost analysis of the land development
process," Urban Studies, vol. 41, pp. 2539-2553, 2004.
[10] E. R. Alexander, "A transaction cost theory of planning," American
Planning Association Journal, vol. 58, pp. 190-200, 1992.
[11] E. R. Alexander, "A transaction-cost theory of land use planning and
development control: Towards the institutional analysis of public
planning," Town Planning Review, vol. 72, pp. 1-31, 2001.
[12] J.-W. Lin, "Adaptive algorithms for the identification of nonlinear
structural systems," Ph.D. dissertation, Columbia University, New York,
NY, 2001.
[13] J. L. Beck and L. S. Katafygiotis, "Updating models and their
uncertainties. i: Bayesian statistical framework," Journal of
Engineering Mechanics, vol. 124, pp. 455-461, 1998.
[14] D. M. Etter, Engineering Problem Solving with Matlab, Prentice-Hall,
New Jersey, 1993.
[15] N. E. Huang, Z. Shen, S. R. Long, M. C. Wu, H. H. Shih, Q. Zheng, N. C.
Yen, C. C. Tung, and H. H. Liu, "The empirical mode decomposition
and the Hilbert spectrum for nonlinear and non-stationary time series
analysis," Procedures of the Royal Society of London, vol. 454, pp.
903-995, 1998.
[16] D. S. Moore and G. P. McCabe, Introduction to the Practice of Statistics,
W.H. Freeman and Company, New York, 2005.
[17] J.-W. Lin and H.-J. Chen, "Repetitive identification of structural
systems using a nonlinear model parameter refinement approach,"
Shock and Vibration, vol. 16, no. 3, pp. 229-240, 2009.
[18] A. Juditsky, H. Hjalmarsson, A. Benveniste, B. Delyon, L. Ljung, J.
Sjöberg, and Q. Zhang, "Nonlinear black-box models in system
identification: Mathematical foundations," Automatica, vol. 31, no. 12,
pp. 1725-1750, 1995.
[19] M. Dodgson, J. Mathews, T. Kastelle, and M.-C Hu, "The evolving
nature of Taiwan-s national innovation system: The case of
biotechnology innovation networks," Research Policy, vol. 37, no. 3,
pp. 430-445, 2008.
[20] F. Malerba, "Sectoral systems: How and why innovation differs across
sectors," The Oxford Handbook of Innovation, Oxford University Press,
Oxford, 2005.
@article{"International Journal of Architectural, Civil and Construction Sciences:56304", author = "Jeng-Wen Lin and Simon Chien-Yuan Chen", title = "Institutional Efficiency of Commonhold Industrial Parks Using a Polynomial Regression Model", abstract = "Based on assumptions of neo-classical economics and
rational choice / public choice theory, this paper investigates the
regulation of industrial land use in Taiwan by homeowners
associations (HOAs) as opposed to traditional government
administration. The comparison, which applies the transaction cost
theory and a polynomial regression analysis, manifested that HOAs
are superior to conventional government administration in terms of
transaction costs and overall efficiency. A case study that compares
Taiwan-s commonhold industrial park, NangKang Software Park, to
traditional government counterparts using limited data on the costs
and returns was analyzed. This empirical study on the relative
efficiency of governmental and private institutions justified the
important theoretical proposition. Numerical results prove the
efficiency of the established model.", keywords = "Homeowners Associations, Institutional Efficiency,Polynomial Regression, Transaction Cost.", volume = "4", number = "3", pages = "82-5", }
