Jeng-Wen Lin and Simon Chien-Yuan Chen
Institutional Efficiency of Commonhold Industrial Parks Using a Polynomial Regression Model
99 - 103
2010
4
3
International Journal of Civil and Environmental Engineering
https://publications.waset.org/pdf/7228
https://publications.waset.org/vol/39
World Academy of Science, Engineering and Technology
Based on assumptions of neoclassical 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
Taiwans 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.
Open Science Index 39, 2010