Justice and nature of contract as determinants of abandoned housing projects

This study aims at exploring the perception of stakeholders, particularly the home buyers, about the causes of abandoned housing project (AHP) in Malaysia. In terms of approach, assessing the determinants of AHP could assist in mitigating the effect of AHP in Malaysia. In this study, we employed fac...

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Main Authors:	Abdul Razak, Dzuljastri, Abdullah, Moha Asri, Mohammad, Mustafa Omar, Olaniyi, Oladokun Nafiu
Format:	Article
Language:	English
Published:	Universiti Malaysia Sabah 2016
Subjects:	HG1501 Banking
Online Access:	http://irep.iium.edu.my/56278/ http://irep.iium.edu.my/56278/ http://irep.iium.edu.my/56278/1/03-lbibf-vol-14-final-d.pdf

id	iium-56278
recordtype	eprints
spelling	iium-562782017-04-17T03:01:28Z http://irep.iium.edu.my/56278/ Justice and nature of contract as determinants of abandoned housing projects Abdul Razak, Dzuljastri Abdullah, Moha Asri Mohammad, Mustafa Omar Olaniyi, Oladokun Nafiu HG1501 Banking This study aims at exploring the perception of stakeholders, particularly the home buyers, about the causes of abandoned housing project (AHP) in Malaysia. In terms of approach, assessing the determinants of AHP could assist in mitigating the effect of AHP in Malaysia. In this study, we employed factor analysis and structural equation modelling (SEM) to achieve the stated objective. The total sample size of the study comprises of 328 respondents that cut across all states in Malaysia. Two main constructs, namely justice and nature of contract are considered in this study. Furthermore, the results of the SEM revealed that lack of justice and weak regulatory system, coupled with the nature of the contract of financing significantly contribute to the problem of AHPs. Hence, it is suggested that fairness in the contract (e.g., risk sharing) and sound regulatory system could help in mitigating the effect of abandoned housing problems. The samples of this study are confined to Malaysians in Selangor and Kuala Lumpur. Further testing of the proposed model across different states is needed to determine the generalisability of this study’s findings. The current study only examines two factors, which may limit its generalisation. Further testing on other factors is also needed to extend the findings. Concerning the research implications, the results obtained provide directions to policymakers to deal with the issue of AHPs in Malaysia. On the same note, results obtained provide better guidelines to improve the working practice for housing projects among developers. For originality, this study examines the determinants of AHPs in Malaysia. A framework developed captures the importance of justice and nature of the contract to mitigate the AHPs in Malaysia. Universiti Malaysia Sabah 2016-12 Article PeerReviewed application/pdf en http://irep.iium.edu.my/56278/1/03-lbibf-vol-14-final-d.pdf Abdul Razak, Dzuljastri and Abdullah, Moha Asri and Mohammad, Mustafa Omar and Olaniyi, Oladokun Nafiu (2016) Justice and nature of contract as determinants of abandoned housing projects. Labuan Bulletin of International Business & Finance, 14. pp. 52-67. ISSN 1675-7262 http://wwwkal.ums.edu.my/lbibf/index.php/published-articles-downloadable/category/17-volume-14-2016
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG1501 Banking
spellingShingle	HG1501 Banking Abdul Razak, Dzuljastri Abdullah, Moha Asri Mohammad, Mustafa Omar Olaniyi, Oladokun Nafiu Justice and nature of contract as determinants of abandoned housing projects
description	This study aims at exploring the perception of stakeholders, particularly the home buyers, about the causes of abandoned housing project (AHP) in Malaysia. In terms of approach, assessing the determinants of AHP could assist in mitigating the effect of AHP in Malaysia. In this study, we employed factor analysis and structural equation modelling (SEM) to achieve the stated objective. The total sample size of the study comprises of 328 respondents that cut across all states in Malaysia. Two main constructs, namely justice and nature of contract are considered in this study. Furthermore, the results of the SEM revealed that lack of justice and weak regulatory system, coupled with the nature of the contract of financing significantly contribute to the problem of AHPs. Hence, it is suggested that fairness in the contract (e.g., risk sharing) and sound regulatory system could help in mitigating the effect of abandoned housing problems. The samples of this study are confined to Malaysians in Selangor and Kuala Lumpur. Further testing of the proposed model across different states is needed to determine the generalisability of this study’s findings. The current study only examines two factors, which may limit its generalisation. Further testing on other factors is also needed to extend the findings. Concerning the research implications, the results obtained provide directions to policymakers to deal with the issue of AHPs in Malaysia. On the same note, results obtained provide better guidelines to improve the working practice for housing projects among developers. For originality, this study examines the determinants of AHPs in Malaysia. A framework developed captures the importance of justice and nature of the contract to mitigate the AHPs in Malaysia.
format	Article
author	Abdul Razak, Dzuljastri Abdullah, Moha Asri Mohammad, Mustafa Omar Olaniyi, Oladokun Nafiu
author_facet	Abdul Razak, Dzuljastri Abdullah, Moha Asri Mohammad, Mustafa Omar Olaniyi, Oladokun Nafiu
author_sort	Abdul Razak, Dzuljastri
title	Justice and nature of contract as determinants of abandoned housing projects
title_short	Justice and nature of contract as determinants of abandoned housing projects
title_full	Justice and nature of contract as determinants of abandoned housing projects
title_fullStr	Justice and nature of contract as determinants of abandoned housing projects
title_full_unstemmed	Justice and nature of contract as determinants of abandoned housing projects
title_sort	justice and nature of contract as determinants of abandoned housing projects
publisher	Universiti Malaysia Sabah
publishDate	2016
url	http://irep.iium.edu.my/56278/ http://irep.iium.edu.my/56278/ http://irep.iium.edu.my/56278/1/03-lbibf-vol-14-final-d.pdf
first_indexed	2023-09-18T21:19:22Z
last_indexed	2023-09-18T21:19:22Z
_version_	1777411777887207424

Justice and nature of contract as determinants of abandoned housing projects

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