Societal Influence on Diffusion of Green Buildings - A Count Regression Approach
Ben Hoen (),
Marcelo Cajias () and
Ralf Hohenstatt ()
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Ben Hoen: University of Regensburg
Marcelo Cajias: University of Regensburg
Ralf Hohenstatt: TME Consulting GmbH
Journal of Real Estate Research, 2017, vol. 39, issue 1, 1_38
In considering green building as a politically motivated innovation, it is essential to determine the effect of controllable factors on the adoption and diffusion of green buildings as embodied in both policies and public sentiment. In this paper, we analyzed 61 core based statistical areas of Leadership in Energy and Environmental Design (LEED) registration that occurred between 2005 and 2010, alongside the impact of societal green sentiment and government policymaking in support of the diffusion of green buildings, based on owner types. In this context, a green sentiment index, based on online search activities, was designed to reflect societal environmental awareness in various regions of the U.S. over time. Using Google Trends data and a count regression approach, we identified a significant positive influence of both green sentiment and green policies on the registration of LEED properties over time. Following the approach of previous research, other perimeters explored included Environmental Protection Agency data on CO2 emissions. The findings suggest that increased green sentiment softens governmental policy and procurement as well as corporate investment decisions, thus, raising the occurrence of green building registration. This provides a basis for future research, policy design, commercial research and marketing. Employing publically available datasets, this approach can aid corporate actors and policymakers alike to meet both social demand and political objectives for increasing the prevalence of green buildings.
JEL-codes: L85 (search for similar items in EconPapers)
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