Commenced in January 2007
Paper Count: 30172
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.
Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1333412Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1220
 F. E. Foldvary, "Planning by freehold," Economic Affairs, vol. 25, pp. 11-15, 2005.
 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.
 F. F. Deng, "Collective goods and the political hold-up problem," Journal of Institutional and Theoretical Economics, vol. 59, pp. 414-434, 2003b.
 L. O. Houston, Business Improvement District, Urban Land Institute, Washington DC, 2003.
 R. C. Ellickson, "Cities and homeowners associations," University of Pennsylvania Law Review, vol. 130, pp. 1519-1580, 1982.
 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.
 F. Cheung, "A study of probabilities in integrating all types of industrial districts in Taiwan," National Policy Foundation Research Report, Taipei, 2002.
 Sustainable Mechanism in Industrial Parks, IDB, Taipei, 2001.
 E. Buitelaar, "A transaction-cost analysis of the land development process," Urban Studies, vol. 41, pp. 2539-2553, 2004.
 E. R. Alexander, "A transaction cost theory of planning," American Planning Association Journal, vol. 58, pp. 190-200, 1992.
 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.
 J.-W. Lin, "Adaptive algorithms for the identification of nonlinear structural systems," Ph.D. dissertation, Columbia University, New York, NY, 2001.
 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.
 D. M. Etter, Engineering Problem Solving with Matlab, Prentice-Hall, New Jersey, 1993.
 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.
 D. S. Moore and G. P. McCabe, Introduction to the Practice of Statistics, W.H. Freeman and Company, New York, 2005.
 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.
 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.
 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.
 F. Malerba, "Sectoral systems: How and why innovation differs across sectors," The Oxford Handbook of Innovation, Oxford University Press, Oxford, 2005.