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Article: The significance and performance of property securities markets in the Asian IFCs

TitleThe significance and performance of property securities markets in the Asian IFCs
Authors
KeywordsAsia
Ifcs
Performance Analysis
Portfolio Diversification
Property Securities
Issue Date2009
PublisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/09599916.asp
Citation
Journal Of Property Research, 2009, v. 26 n. 2, p. 125-148 How to Cite?
AbstractThis paper assesses the significance, risk-adjusted performance and portfolio diversification benefits of the listed property securities markets in the Asian international financial centres (IFCs) of Tokyo, Singapore and Hong Kong over January 1998 - March 2008, contrasting this performance to six major non-IFC markets in Asia. Significant risk-adjusted returns are evident for these Asian IFCs, with this having been enhanced in recent years. Portfolio diversification benefits are also evident for these Asian IFCs; however, superior portfolio diversification benefits are provided by the Asian non-IFC markets in a pan-Asia property portfolio context for global investors. These results highlight the need for global investors in the Asian markets to include both the major IFC markets and the non-IFC markets to achieve effective portfolio diversification benefits in their pan-Asia property portfolios. © 2009 Taylor & Francis.
Persistent Identifierhttp://hdl.handle.net/10722/168773
ISSN
2015 SCImago Journal Rankings: 0.489
References

 

DC FieldValueLanguage
dc.contributor.authorNewell, Gen_US
dc.contributor.authorWing, CKen_US
dc.contributor.authorKei, WSen_US
dc.contributor.authorHiang, LKen_US
dc.date.accessioned2012-10-08T03:32:18Z-
dc.date.available2012-10-08T03:32:18Z-
dc.date.issued2009en_US
dc.identifier.citationJournal Of Property Research, 2009, v. 26 n. 2, p. 125-148en_US
dc.identifier.issn0959-9916en_US
dc.identifier.urihttp://hdl.handle.net/10722/168773-
dc.description.abstractThis paper assesses the significance, risk-adjusted performance and portfolio diversification benefits of the listed property securities markets in the Asian international financial centres (IFCs) of Tokyo, Singapore and Hong Kong over January 1998 - March 2008, contrasting this performance to six major non-IFC markets in Asia. Significant risk-adjusted returns are evident for these Asian IFCs, with this having been enhanced in recent years. Portfolio diversification benefits are also evident for these Asian IFCs; however, superior portfolio diversification benefits are provided by the Asian non-IFC markets in a pan-Asia property portfolio context for global investors. These results highlight the need for global investors in the Asian markets to include both the major IFC markets and the non-IFC markets to achieve effective portfolio diversification benefits in their pan-Asia property portfolios. © 2009 Taylor & Francis.en_US
dc.languageengen_US
dc.publisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/09599916.aspen_US
dc.relation.ispartofJournal of Property Researchen_US
dc.subjectAsiaen_US
dc.subjectIfcsen_US
dc.subjectPerformance Analysisen_US
dc.subjectPortfolio Diversificationen_US
dc.subjectProperty Securitiesen_US
dc.titleThe significance and performance of property securities markets in the Asian IFCsen_US
dc.typeArticleen_US
dc.identifier.emailWing, CK:hrrbckw@hkucc.hku.hken_US
dc.identifier.emailKei, WS:kelvin.wong@hku.hken_US
dc.identifier.authorityWing, CK=rp00993en_US
dc.identifier.authorityKei, WS=rp01028en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1080/09599910903441721en_US
dc.identifier.scopuseid_2-s2.0-72149086004en_US
dc.identifier.hkuros172001-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-72149086004&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume26en_US
dc.identifier.issue2en_US
dc.identifier.spage125en_US
dc.identifier.epage148en_US
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridNewell, G=10045199100en_US
dc.identifier.scopusauthoridWing, CK=24830082500en_US
dc.identifier.scopusauthoridKei, WS=7404591021en_US
dc.identifier.scopusauthoridHiang, LK=35299642700en_US

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