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Article: Impact of corporate governance structures on the relationship between direct and indirect real estate in China

TitleImpact of corporate governance structures on the relationship between direct and indirect real estate in China
Authors
Issue Date2010
PublisherAmerican Real Estate Society. The Journal's web site is located at http://www.aresnet.org/ARES/pubs/jrepm/JREPM.html
Citation
Journal Of Real Estate Portfolio Management, 2010, v. 16 n. 1, p. 9-19 How to Cite?
AbstractWhile the indirect real estate market has been growing in Mainland China, the issue of corporate governance has emerged as a key concern for investors, as a number of cases involving stock manipulation have been revealed in recent years. This study investigates the degree to which corporate governance structures might be affecting the link between direct and indirect real estate in Mainland China. Based on data from 1994 to 2008, it was found that Mainland-listed property companies had a weaker linkage between direct and indirect real estate than Hong Kong-listed property companies. Regulatory reforms in the Mainland stock markets have, however, tended to improve the linkage, as well as selection returns for Mainland-listed companies. These findings suggest that corporate governance structure is in fact priced, and that it should be an important factor when considering between direct and indirect real estate investment in the PRC.
Persistent Identifierhttp://hdl.handle.net/10722/169120
ISSN
2015 SCImago Journal Rankings: 0.315
References

 

DC FieldValueLanguage
dc.contributor.authorChau, KWen_HK
dc.contributor.authorMcKinnell, KGen_HK
dc.contributor.authorWong, SKen_HK
dc.contributor.authorWei, Qen_HK
dc.contributor.authorNewell, Gen_HK
dc.date.accessioned2012-10-08T03:44:43Z-
dc.date.available2012-10-08T03:44:43Z-
dc.date.issued2010en_HK
dc.identifier.citationJournal Of Real Estate Portfolio Management, 2010, v. 16 n. 1, p. 9-19en_US
dc.identifier.issn1083-5547en_HK
dc.identifier.urihttp://hdl.handle.net/10722/169120-
dc.description.abstractWhile the indirect real estate market has been growing in Mainland China, the issue of corporate governance has emerged as a key concern for investors, as a number of cases involving stock manipulation have been revealed in recent years. This study investigates the degree to which corporate governance structures might be affecting the link between direct and indirect real estate in Mainland China. Based on data from 1994 to 2008, it was found that Mainland-listed property companies had a weaker linkage between direct and indirect real estate than Hong Kong-listed property companies. Regulatory reforms in the Mainland stock markets have, however, tended to improve the linkage, as well as selection returns for Mainland-listed companies. These findings suggest that corporate governance structure is in fact priced, and that it should be an important factor when considering between direct and indirect real estate investment in the PRC.en_HK
dc.languageengen_US
dc.publisherAmerican Real Estate Society. The Journal's web site is located at http://www.aresnet.org/ARES/pubs/jrepm/JREPM.htmlen_HK
dc.relation.ispartofJournal of Real Estate Portfolio Managementen_HK
dc.titleImpact of corporate governance structures on the relationship between direct and indirect real estate in Chinaen_HK
dc.typeArticleen_HK
dc.identifier.emailChau, KW: hrrbckw@hku.hken_HK
dc.identifier.emailMcKinnell, KG: kgmckinn@hku.hken_HK
dc.identifier.emailWong, SK: kelvin.wong@hku.hken_HK
dc.identifier.authorityChau, KW=rp00993en_HK
dc.identifier.authorityMcKinnell, KG=rp01013en_HK
dc.identifier.authorityWong, SK=rp01028en_HK
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.scopuseid_2-s2.0-77953181872en_HK
dc.identifier.hkuros172005-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-77953181872&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume16en_HK
dc.identifier.issue1en_HK
dc.identifier.spage9en_HK
dc.identifier.epage19en_HK
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridChau, KW=24830082500en_HK
dc.identifier.scopusauthoridMcKinnell, KG=6507196785en_HK
dc.identifier.scopusauthoridWong, SK=7404591021en_HK
dc.identifier.scopusauthoridWei, Q=36100739300en_HK
dc.identifier.scopusauthoridNewell, G=10045199100en_HK
dc.customcontrol.immutablecsl 150212-

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