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Article: Efficiency assessment of listed real estate companies: An empirical study of China

TitleEfficiency assessment of listed real estate companies: An empirical study of China
Authors
KeywordsChina
DEA
Efficiency
Input-Output
Listed Real Estate Company
Scale Economics
Issue Date2011
PublisherTaylor & Francis, co-published with Vilnius Gediminas Technical University. The Journal's web site is located at http://www.ijspm.vgtu.lt
Citation
International Journal of Strategic Property Management, 2011, v. 15 n. 2, p. 91-104 How to Cite?
AbstractThis study measures performance and efficiency of the Listed Real Estate Companies (LRECs). Three types of Data envelopment analysis (DEA) approaches are employed, which are CCR-DEA, BCC-DEA and Super-Efficiency-DEA models. Based on these DEA approaches, we conduct an empirical analysis on the 94 LRECs in China stock markets according to the 2009 Annual Financial Statements. Registered Capital, Asset Value, Employee Number, and Operation Cost are adopted as the inputs factors, while the output factors are denoted by Revenue and Profit. In general, this empirical research delivers four outcomes: firstly, an integrated assessment system and a ranking of the LRECs are established, which provides useful information for investors who are seeking for indirect exposure in the Chinese real estate market. Secondly, the average Overall Efficiency (OE), Pure Technical Efficiency (PTE) and Scale Efficiency (SE) of the LRECs are 0.78, 0.84 and 0.92 respectively. Thirdly, 69% of the inefficient LRECs are classified as increasing returns to scale and could further increase operating efficiency by scale expansion. Fourthly, the employees slack is prevalent at 18.96% for the inefficient LRECs. © 2011 Copyright Vilnius Gediminas Technical University (VGTU) Press Technika.
Persistent Identifierhttp://hdl.handle.net/10722/168787
ISSN
2015 Impact Factor: 0.776
2015 SCImago Journal Rankings: 0.518
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorZheng, Xen_US
dc.contributor.authorChau, KWen_US
dc.contributor.authorHui, ECMen_US
dc.date.accessioned2012-10-08T03:32:25Z-
dc.date.available2012-10-08T03:32:25Z-
dc.date.issued2011en_US
dc.identifier.citationInternational Journal of Strategic Property Management, 2011, v. 15 n. 2, p. 91-104en_US
dc.identifier.issn1648-715Xen_US
dc.identifier.urihttp://hdl.handle.net/10722/168787-
dc.description.abstractThis study measures performance and efficiency of the Listed Real Estate Companies (LRECs). Three types of Data envelopment analysis (DEA) approaches are employed, which are CCR-DEA, BCC-DEA and Super-Efficiency-DEA models. Based on these DEA approaches, we conduct an empirical analysis on the 94 LRECs in China stock markets according to the 2009 Annual Financial Statements. Registered Capital, Asset Value, Employee Number, and Operation Cost are adopted as the inputs factors, while the output factors are denoted by Revenue and Profit. In general, this empirical research delivers four outcomes: firstly, an integrated assessment system and a ranking of the LRECs are established, which provides useful information for investors who are seeking for indirect exposure in the Chinese real estate market. Secondly, the average Overall Efficiency (OE), Pure Technical Efficiency (PTE) and Scale Efficiency (SE) of the LRECs are 0.78, 0.84 and 0.92 respectively. Thirdly, 69% of the inefficient LRECs are classified as increasing returns to scale and could further increase operating efficiency by scale expansion. Fourthly, the employees slack is prevalent at 18.96% for the inefficient LRECs. © 2011 Copyright Vilnius Gediminas Technical University (VGTU) Press Technika.en_US
dc.languageengen_US
dc.publisherTaylor & Francis, co-published with Vilnius Gediminas Technical University. The Journal's web site is located at http://www.ijspm.vgtu.lt-
dc.relation.ispartofInternational Journal of Strategic Property Managementen_US
dc.rightsThis is an electronic version of an article published in International Journal of Strategic Property Management, 2011, v. 15 n. 2, p. 91-104. The article is available online at: http://www.tandfonline.com/doi/abs/10.3846/1648715X.2011.582739-
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.subjectChinaen_US
dc.subjectDEAen_US
dc.subjectEfficiencyen_US
dc.subjectInput-Outputen_US
dc.subjectListed Real Estate Companyen_US
dc.subjectScale Economicsen_US
dc.titleEfficiency assessment of listed real estate companies: An empirical study of Chinaen_US
dc.typeArticleen_US
dc.identifier.emailChau, KW:hrrbckw@hkucc.hku.hken_US
dc.identifier.authorityChau, KW=rp00993en_US
dc.description.naturepostprinten_US
dc.identifier.doi10.3846/1648715X.2011.582739en_US
dc.identifier.scopuseid_2-s2.0-84860900165en_US
dc.identifier.hkuros208038-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-84860900165&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume15en_US
dc.identifier.issue2en_US
dc.identifier.spage91en_US
dc.identifier.epage104en_US
dc.identifier.isiWOS:000292168800001-
dc.publisher.placeLithuania-
dc.identifier.scopusauthoridZheng, X=35226797000en_US
dc.identifier.scopusauthoridChau, KW=24830082500en_US
dc.identifier.scopusauthoridHui, ECM=7005081892en_US

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