Retail Space for Rent! Macroeconomic Determinants of Shopping Complex Occupancy Rate

  • Shan-Shan Goh University of Malaya
  • Tuck-Cheong Tang University of Malaya
  • Alex Hou-Hong Ng INTI International University
Keywords: Macroeconomics, Malaysia, Occupancy rate, Shopping complex, Time series


This study proposes anad hoc equationwhich isapplied to estimatethe impactsof macroeconomic variableson occupancy rate of shopping complex. Thecandidatemacroeconomic determinantsare interest rate, inflation rate, share priceand Gross Domestic Product (GDP), whileasupply-sidevariable, total spaceis included.Using quarterly databetween 1992and 2015 froma small open economy-Malaysia, this study findsthat interest rate,and GDP both havea positive impact on shopping complex’s occupancy rate, and total space of shopping complex shows anegative sign.The non-causality tests offer that inflation rate indirectlycauses the occupancy rate of shopping complex. This study highlights somerelevant policy implications.


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How to Cite
Shan-Shan Goh, Tuck-Cheong Tang, & Alex Hou-Hong Ng. (2020). Retail Space for Rent! Macroeconomic Determinants of Shopping Complex Occupancy Rate. International Journal of Business and Society, 21(1), 268-284.