• Korea Real Estate Review
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• v.24 no.1
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• pp.53-62
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• 2014

A test on the significance of style factors which were revealed to be significant in U.S. and U.K. literature is conducted in this study using appraisal-based returns of offices in Korea. Region, size (appraisal value), value-growth propensity (yield gain gap) and leasing conditions (the number of tenants, the length of average leased period and the proportion of key tenant) are included in the analysis model as style factors. The empirical result suggests that firstly core region and large size are significant but they increase risk as well as return contrary to general belief, secondly value propensity significantly decreases risk as well as return as it does in U.S. and U.K., finally the number of tenants among leasing conditions decreases risk as well as return but the length of average leased period and the proportion of key tenant are not significant.

• Journal of the Economic Geographical Society of Korea
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• v.19 no.2
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• pp.360-377
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• 2016

Since after the 1986 economic reform policy(Doi Moi), the central highland in Vietnam has transformed into one of the largest coffee producing areas. The transformation had been supported by mass migration of ethnic Kinhs from the coastal lowland. It did not take long for the Kinh migrants to be the ethnic majority in the region. Meanwhile the growth of coffee industry entailed in socio-economic disparity, specially between Kinh migrants and native ethnic minorities. The disparity has becomed obvious not only between coffee farming Kinhs and non-coffee farming ethnic minorities but also between coffee farming Kinhs and ehtnic minorities. The previous literatures highlight the lack of human and social capital and the lagging modernization in ethnic minority societies. However, they fall short in showing the explicit processes why ethnic minority coffee farmers earn less than ethnic majority counterparts. With a case study of Dak Lak province, this research attempts to show the reason why there is income gap between Kinh and ethnic minority Ede coffee farmers by comparing their ways of producing coffee and selling their products. The results show that Ede's land productivity is significantly lower than Kinh's. It is because Ede farmers use less fertilizer due to the shortage of the capital. Also they often get into debt for coffee production and should pay it back right after the harvest. It deprives them of chance to raise earning by selling the coffee beans at a higher price.