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Article: Are Real Estate IPOs A Different Species? Evidence from Hong Kong IPOs

TitleAre Real Estate IPOs A Different Species? Evidence from Hong Kong IPOs
Authors
KeywordsReal estate investment trusts
Going public (Securities)
Real property
Capital market
Real estate investment
Issue Date2001
PublisherAmerican Real Estate Society. The Journal's web site is located at http://aux.zicklin.baruch.cuny.edu/jrer/
Citation
Journal of Real Estate Research, 2001, v. 21 n. 3, p. 337-356 How to Cite?
AbstractIt is well documented that in the United States, real estate investment trust (REIT) initial public offerings (IPOs) have an abnormally low initial-day return when compared to that of industrial firm IPOs. Researchers suspect that the abnormal return pattern of REIT IPOs is caused by their unique real estate holdings. Examination of 399 IPOs issued in Hong Kong during the 1986-1997 period reveals strong evidence that suggests that underlying real estate holdings cannot be the sole reason for the observed low initial-day return of REIT IPOs. This investigation indicates that there is a need to re-think the current explanations for the abnormal performance of REIT IPOs
Persistent Identifierhttp://hdl.handle.net/10722/223799
ISSN
2015 Impact Factor: 0.7
2015 SCImago Journal Rankings: 1.674

 

DC FieldValueLanguage
dc.contributor.authorChan, SH-
dc.contributor.authorStohs, MH-
dc.contributor.authorWang, K-
dc.date.accessioned2016-03-17T06:19:16Z-
dc.date.available2016-03-17T06:19:16Z-
dc.date.issued2001-
dc.identifier.citationJournal of Real Estate Research, 2001, v. 21 n. 3, p. 337-356-
dc.identifier.issn0896-5803-
dc.identifier.urihttp://hdl.handle.net/10722/223799-
dc.description.abstractIt is well documented that in the United States, real estate investment trust (REIT) initial public offerings (IPOs) have an abnormally low initial-day return when compared to that of industrial firm IPOs. Researchers suspect that the abnormal return pattern of REIT IPOs is caused by their unique real estate holdings. Examination of 399 IPOs issued in Hong Kong during the 1986-1997 period reveals strong evidence that suggests that underlying real estate holdings cannot be the sole reason for the observed low initial-day return of REIT IPOs. This investigation indicates that there is a need to re-think the current explanations for the abnormal performance of REIT IPOs-
dc.languageeng-
dc.publisherAmerican Real Estate Society. The Journal's web site is located at http://aux.zicklin.baruch.cuny.edu/jrer/-
dc.relation.ispartofJournal of Real Estate Research-
dc.subjectReal estate investment trusts-
dc.subjectGoing public (Securities)-
dc.subjectReal property-
dc.subjectCapital market-
dc.subjectReal estate investment-
dc.titleAre Real Estate IPOs A Different Species? Evidence from Hong Kong IPOs-
dc.typeArticle-
dc.identifier.emailChan, SH: schan@business.hku.hk-
dc.identifier.hkuros63503-
dc.identifier.volume21-
dc.identifier.issue3-
dc.identifier.spage337-
dc.identifier.epage356-
dc.publisher.placeUnited States-

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