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Article: The significance of Chinese commercial property in an Asian property portfolio

TitleThe significance of Chinese commercial property in an Asian property portfolio
Authors
KeywordsChina
International organizations
Investors
Organizations
Portfolio investment
Property
Issue Date2009
PublisherEmerald Group Publishing Limited. The Journal's web site is located at http://www.emeraldinsight.com/jpif.htm
Citation
Journal Of Property Investment And Finance, 2009, v. 27 n. 2, p. 102-119 How to Cite?
AbstractPurpose - International investors have shown considerable recent interest regarding property investment in China via both direct and indirect property. The purpose of this paper is to assess the significance and performance of the China commercial property market compared to six developed and emerging commercial property markets in Asia. Design/methodology/approach - This paper analyses the performance of commercial property in China over 1998-2007 for both direct and indirect property. Risk-adjusted performance analysis is used to assess the added value of China commercial property in a pan-Asia portfolio, with the portfolio diversification benefits of China commercial property also assessed. Sub-period analyses are also used to assess the dynamics of China commercial property. Findings - This paper finds that China commercial property has shown significantly enhanced performance and diversification benefits in recent years. In a pan-Asia property fund context, there are clear diversification benefits provided by China commercial property, with these benefits also being evident in the other Asian property markets. The findings highlight the benefits of a pan-Asia property investment strategy by international property investors, as well as the key benefits and added-value of including China commercial property in this pan-Asia property investment strategy. Originality/value - Previous empirical research into the China commercial property markets has been very limited. This paper rigorously assesses the role of China commercial property in a pan-Asia property portfolio context. Given the increasing interest by the leading international property investors regarding investing in China commercial property, this research enables more informed and practical investment decision-making regarding the role of both direct and indirect China commercial property as part of a pan-Asia institutional property investment strategy. © Emerald Group Publishing Limited.
Persistent Identifierhttp://hdl.handle.net/10722/59741
ISSN
2015 SCImago Journal Rankings: 0.294
References

 

DC FieldValueLanguage
dc.contributor.authorNewell, Gen_HK
dc.contributor.authorChau, KWen_HK
dc.contributor.authorWong, SKen_HK
dc.date.accessioned2010-05-31T03:56:32Z-
dc.date.available2010-05-31T03:56:32Z-
dc.date.issued2009en_HK
dc.identifier.citationJournal Of Property Investment And Finance, 2009, v. 27 n. 2, p. 102-119en_HK
dc.identifier.issn1463-578Xen_HK
dc.identifier.urihttp://hdl.handle.net/10722/59741-
dc.description.abstractPurpose - International investors have shown considerable recent interest regarding property investment in China via both direct and indirect property. The purpose of this paper is to assess the significance and performance of the China commercial property market compared to six developed and emerging commercial property markets in Asia. Design/methodology/approach - This paper analyses the performance of commercial property in China over 1998-2007 for both direct and indirect property. Risk-adjusted performance analysis is used to assess the added value of China commercial property in a pan-Asia portfolio, with the portfolio diversification benefits of China commercial property also assessed. Sub-period analyses are also used to assess the dynamics of China commercial property. Findings - This paper finds that China commercial property has shown significantly enhanced performance and diversification benefits in recent years. In a pan-Asia property fund context, there are clear diversification benefits provided by China commercial property, with these benefits also being evident in the other Asian property markets. The findings highlight the benefits of a pan-Asia property investment strategy by international property investors, as well as the key benefits and added-value of including China commercial property in this pan-Asia property investment strategy. Originality/value - Previous empirical research into the China commercial property markets has been very limited. This paper rigorously assesses the role of China commercial property in a pan-Asia property portfolio context. Given the increasing interest by the leading international property investors regarding investing in China commercial property, this research enables more informed and practical investment decision-making regarding the role of both direct and indirect China commercial property as part of a pan-Asia institutional property investment strategy. © Emerald Group Publishing Limited.en_HK
dc.languageengen_HK
dc.publisherEmerald Group Publishing Limited. The Journal's web site is located at http://www.emeraldinsight.com/jpif.htmen_HK
dc.relation.ispartofJournal of Property Investment and Financeen_HK
dc.subjectChinaen_HK
dc.subjectInternational organizationsen_HK
dc.subjectInvestorsen_HK
dc.subjectOrganizationsen_HK
dc.subjectPortfolio investmenten_HK
dc.subjectPropertyen_HK
dc.titleThe significance of Chinese commercial property in an Asian property portfolioen_HK
dc.typeArticleen_HK
dc.identifier.emailChau, KW:hrrbckw@hkucc.hku.hken_HK
dc.identifier.emailWong, SK:kelvin.wong@hku.hken_HK
dc.identifier.authorityChau, KW=rp00993en_HK
dc.identifier.authorityWong, SK=rp01028en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1108/14635780910937827en_HK
dc.identifier.scopuseid_2-s2.0-70349430166en_HK
dc.identifier.hkuros160480en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-70349430166&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume27en_HK
dc.identifier.issue2en_HK
dc.identifier.spage102en_HK
dc.identifier.epage119en_HK
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridNewell, G=10045199100en_HK
dc.identifier.scopusauthoridChau, KW=24830082500en_HK
dc.identifier.scopusauthoridWong, SK=7404591021en_HK
dc.identifier.citeulike4201033-

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