Prof. LI Yi Man, RitaRitaProf. LI Yi Man2021-03-192021-03-192009Economic Affairs, 2009, vol. 29(4), pp. 66-71.0265-0665http://hdl.handle.net/20.500.11861/6572This paper examines residential property development in the Chinese cities of Harbin and Shanghai in 2001–07. It reveals that development firms generally only built one residential development during the study period, which contrasts with the situation in most developed countries, where large, established firms engage in numerous projects. This finding appears to contradict theories on economies of scale, brand names and reputation. It is argued that institutional failure may be largely responsible for the business practices observed.enChinaConstruction IndustryTransaction CostsBrand NamesEconomies Of ScaleInstitutional FailureNew Institutional EconomicsPeer Reviewed Journal Article10.1111/j.1468-0270.2009.01949.x