Segmenting agricultural land market according to development potential: A latent class approach = Mengasingkan pasaran tanah pertanian menurut potensi pembangunan: Pendekatan kelas terpendam

Not all farmlands are purchased for farming. Where development pressures are strong and urban boundaries still fluid, some farmlands are purchased for non-agricultural purposes. However, since the future development use is not evident or pre-determined at the time of transaction, the farmland mark...

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Main Author:	Khalid, Haniza
Format:	Article
Language:	English English
Published:	Universiti Kebangsaan Malaysia 2017
Subjects:	HA29 Theory and method of social science statistics HB131 Methodology.Mathematical economics. Quantitative methods HB221 Price HB522 Income. Factor shares.Interest.Profit.Entrepreneurship HD101 Land use HD1401 Agriculture
Online Access:	http://irep.iium.edu.my/57984/ http://irep.iium.edu.my/57984/ http://irep.iium.edu.my/57984/ http://irep.iium.edu.my/57984/1/JEM_published%20HK.pdf http://irep.iium.edu.my/57984/7/Segmenting%20agricultural%20land%20market%20according%20to%20development%20potential%20A%20latent%20class%20approach.pdf

id	iium-57984
recordtype	eprints
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	HA29 Theory and method of social science statistics HB131 Methodology.Mathematical economics. Quantitative methods HB221 Price HB522 Income. Factor shares.Interest.Profit.Entrepreneurship HD101 Land use HD1401 Agriculture
spellingShingle	HA29 Theory and method of social science statistics HB131 Methodology.Mathematical economics. Quantitative methods HB221 Price HB522 Income. Factor shares.Interest.Profit.Entrepreneurship HD101 Land use HD1401 Agriculture Khalid, Haniza Segmenting agricultural land market according to development potential: A latent class approach = Mengasingkan pasaran tanah pertanian menurut potensi pembangunan: Pendekatan kelas terpendam
description	Not all farmlands are purchased for farming. Where development pressures are strong and urban boundaries still fluid, some farmlands are purchased for non-agricultural purposes. However, since the future development use is not evident or pre-determined at the time of transaction, the farmland market may appear to operate as one albeit with latent segments. Analyses of land price determinants should involve some measures to ascertain the cause and the degree of functional segmentation in the market, so that the shadow prices of different land attributes can be differentiated by market segments. Using an extensive dataset of over 2,000 Malaysian farmland sales, our Latent Class Analysis confirms that there are two underlying distinct distributions and that within each distribution, relationships between variables display considerable local independence. Strength of potential drivers of farmland price is proven to differ according to segments. In addition, we are able to show that the segment classification results based on the parcel’s ‘developability’ was fairly accurate when compared to the classification given by official land valuation documents. This exercise proves that unobserved segmentation can be predicted with a reasonable degree of accuracy simply by letting the data ‘speak for itself’. In terms of agricultural support funding, the segmentation may allow for the country’s better targeting of recipients and refinement of farm support programs Tidak semua tanah pertanian dibeli untuk tujuan pertanian. Di kawasan yang mana tekanan pembangunan adalah kuat dan sempadan antara bandar dan luar bandar masih tidak jelas, banyak tanah kebun dibeli untuk tujuan bukan pertanian. Guna-tanah masa depan boleh berubah-ubah dan tidak dapat dijangka dengan tepat pada tempoh urusan jual beli. Oleh kerana ini, kita boleh perhatikan bahawa pasaran tanah pertanian selalunya mempunyai pelbagai segmen terpendam, iaitu berdasarkan perbezaan niat sipembeli. Analisis penentu harga tanah haruslah melibatkan langkah untuk menentukan punca dan tahap segmentasi pasaran yang berlaku, supaya harga bayangan bagi setiap atribut tanah boleh dibezakan mengikut segmen pasaran masing-masing. Dengan menggunakan set data yang besar iaitu lebih 2,000 data jualan tanah pertanian di Malaysia, Analisa Kelas Pendam kami telah mengesahkan bahawa terdapat dua taburan yang berbeza dan bahawa dalam kedua-dua taburan/segmen, hubungan antara pemboleh ubah adalah berlainan. Kekuatan setiap faktor yang mempengaruhi harga tanah pertanian terbukti berbeza mengikut segmen. Selain itu, kami dapat menunjukkan bahawa hasil pengasingan segmen berdasarkan ‘daya maju’ sesebuah plot tanah adalah hampir sama dengan pengelasan yang dibuat Jabatan Penilaian Harta. Kajian ini membuktikan bahawa segmen terpendam masih boleh diramal dengan tahap ketepatan yang munasabah dengan kaedah membiarkan data ‘bercakap untuk dirinya sendiri’. Menerusi pengasingan kelas terpendam di dalam pasaran tanah pertanian, pihak pembuat polisi dapat membuat sasaran polisi dan penghalusan program yang lebih tepat untuk memajukan sektor pertanian.
format	Article
author	Khalid, Haniza
author_facet	Khalid, Haniza
author_sort	Khalid, Haniza
title	Segmenting agricultural land market according to development potential: A latent class approach = Mengasingkan pasaran tanah pertanian menurut potensi pembangunan: Pendekatan kelas terpendam
title_short	Segmenting agricultural land market according to development potential: A latent class approach = Mengasingkan pasaran tanah pertanian menurut potensi pembangunan: Pendekatan kelas terpendam
title_full	Segmenting agricultural land market according to development potential: A latent class approach = Mengasingkan pasaran tanah pertanian menurut potensi pembangunan: Pendekatan kelas terpendam
title_fullStr	Segmenting agricultural land market according to development potential: A latent class approach = Mengasingkan pasaran tanah pertanian menurut potensi pembangunan: Pendekatan kelas terpendam
title_full_unstemmed	Segmenting agricultural land market according to development potential: A latent class approach = Mengasingkan pasaran tanah pertanian menurut potensi pembangunan: Pendekatan kelas terpendam
title_sort	segmenting agricultural land market according to development potential: a latent class approach = mengasingkan pasaran tanah pertanian menurut potensi pembangunan: pendekatan kelas terpendam
publisher	Universiti Kebangsaan Malaysia
publishDate	2017
url	http://irep.iium.edu.my/57984/ http://irep.iium.edu.my/57984/ http://irep.iium.edu.my/57984/ http://irep.iium.edu.my/57984/1/JEM_published%20HK.pdf http://irep.iium.edu.my/57984/7/Segmenting%20agricultural%20land%20market%20according%20to%20development%20potential%20A%20latent%20class%20approach.pdf
first_indexed	2023-09-18T21:21:58Z
last_indexed	2023-09-18T21:21:58Z
_version_	1777411941761810432
spelling	iium-579842018-01-23T03:44:55Z http://irep.iium.edu.my/57984/ Segmenting agricultural land market according to development potential: A latent class approach = Mengasingkan pasaran tanah pertanian menurut potensi pembangunan: Pendekatan kelas terpendam Khalid, Haniza HA29 Theory and method of social science statistics HB131 Methodology.Mathematical economics. Quantitative methods HB221 Price HB522 Income. Factor shares.Interest.Profit.Entrepreneurship HD101 Land use HD1401 Agriculture Not all farmlands are purchased for farming. Where development pressures are strong and urban boundaries still fluid, some farmlands are purchased for non-agricultural purposes. However, since the future development use is not evident or pre-determined at the time of transaction, the farmland market may appear to operate as one albeit with latent segments. Analyses of land price determinants should involve some measures to ascertain the cause and the degree of functional segmentation in the market, so that the shadow prices of different land attributes can be differentiated by market segments. Using an extensive dataset of over 2,000 Malaysian farmland sales, our Latent Class Analysis confirms that there are two underlying distinct distributions and that within each distribution, relationships between variables display considerable local independence. Strength of potential drivers of farmland price is proven to differ according to segments. In addition, we are able to show that the segment classification results based on the parcel’s ‘developability’ was fairly accurate when compared to the classification given by official land valuation documents. This exercise proves that unobserved segmentation can be predicted with a reasonable degree of accuracy simply by letting the data ‘speak for itself’. In terms of agricultural support funding, the segmentation may allow for the country’s better targeting of recipients and refinement of farm support programs Tidak semua tanah pertanian dibeli untuk tujuan pertanian. Di kawasan yang mana tekanan pembangunan adalah kuat dan sempadan antara bandar dan luar bandar masih tidak jelas, banyak tanah kebun dibeli untuk tujuan bukan pertanian. Guna-tanah masa depan boleh berubah-ubah dan tidak dapat dijangka dengan tepat pada tempoh urusan jual beli. Oleh kerana ini, kita boleh perhatikan bahawa pasaran tanah pertanian selalunya mempunyai pelbagai segmen terpendam, iaitu berdasarkan perbezaan niat sipembeli. Analisis penentu harga tanah haruslah melibatkan langkah untuk menentukan punca dan tahap segmentasi pasaran yang berlaku, supaya harga bayangan bagi setiap atribut tanah boleh dibezakan mengikut segmen pasaran masing-masing. Dengan menggunakan set data yang besar iaitu lebih 2,000 data jualan tanah pertanian di Malaysia, Analisa Kelas Pendam kami telah mengesahkan bahawa terdapat dua taburan yang berbeza dan bahawa dalam kedua-dua taburan/segmen, hubungan antara pemboleh ubah adalah berlainan. Kekuatan setiap faktor yang mempengaruhi harga tanah pertanian terbukti berbeza mengikut segmen. Selain itu, kami dapat menunjukkan bahawa hasil pengasingan segmen berdasarkan ‘daya maju’ sesebuah plot tanah adalah hampir sama dengan pengelasan yang dibuat Jabatan Penilaian Harta. Kajian ini membuktikan bahawa segmen terpendam masih boleh diramal dengan tahap ketepatan yang munasabah dengan kaedah membiarkan data ‘bercakap untuk dirinya sendiri’. Menerusi pengasingan kelas terpendam di dalam pasaran tanah pertanian, pihak pembuat polisi dapat membuat sasaran polisi dan penghalusan program yang lebih tepat untuk memajukan sektor pertanian. Universiti Kebangsaan Malaysia 2017 Article PeerReviewed application/pdf en http://irep.iium.edu.my/57984/1/JEM_published%20HK.pdf application/pdf en http://irep.iium.edu.my/57984/7/Segmenting%20agricultural%20land%20market%20according%20to%20development%20potential%20A%20latent%20class%20approach.pdf Khalid, Haniza (2017) Segmenting agricultural land market according to development potential: A latent class approach = Mengasingkan pasaran tanah pertanian menurut potensi pembangunan: Pendekatan kelas terpendam. Jurnal Ekonomi Malaysia, 51 (1). pp. 145-157. ISSN 0126-1962 http://www.ukm.my/fep/jem/pdf/2017-51(1)/jeko_51(1)-12.pdf 10.17576/JEM-2017-5001-12

Segmenting agricultural land market according to development potential: A latent class approach = Mengasingkan pasaran tanah pertanian menurut potensi pembangunan: Pendekatan kelas terpendam

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