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Article: Factors influencing the performance of Hong Kong real estate companies

TitleFactors influencing the performance of Hong Kong real estate companies
Authors
KeywordsReal estate
Issue Date2007
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, 2007, v. 13 n. 1, p. 75-86 How to Cite?
AbstractHong Kong real estate companies make a significant contribution to the Hong Kong stock market and general economy. Using a variance decomposition procedure, the proportion of Hong Kong real estate company volatility that is attributable to stock, bond, and real estate factors over 1984-2004 is assessed. Over this period, real estate accounted for 7% of real estate company volatility. Importantly, this level has increased from only 2% over the 1984-1997 period to 11% over the 1997-2004 period, with the contribution by stocks decreasing from 78% to 58%. Overall, this reflects an increased contribution by real estate to Hong Kong real estate company volatility in recent years since the Asian Financial Crisis and the establishment of the Hong Kong Special Administrative Region. These results have significant implications for international real estate securities funds and highlight the need for establishing an active real estate investment trust market in Hong Kong.
Persistent Identifierhttp://hdl.handle.net/10722/81744
ISSN
2015 SCImago Journal Rankings: 0.315
References

 

DC FieldValueLanguage
dc.contributor.authorNewell, Gen_HK
dc.contributor.authorWing, CKen_HK
dc.contributor.authorKei, WSen_HK
dc.contributor.authorMcKinnell, Ken_HK
dc.date.accessioned2010-09-06T08:21:30Z-
dc.date.available2010-09-06T08:21:30Z-
dc.date.issued2007en_HK
dc.identifier.citationJournal Of Real Estate Portfolio Management, 2007, v. 13 n. 1, p. 75-86en_HK
dc.identifier.issn1083-5547en_HK
dc.identifier.urihttp://hdl.handle.net/10722/81744-
dc.description.abstractHong Kong real estate companies make a significant contribution to the Hong Kong stock market and general economy. Using a variance decomposition procedure, the proportion of Hong Kong real estate company volatility that is attributable to stock, bond, and real estate factors over 1984-2004 is assessed. Over this period, real estate accounted for 7% of real estate company volatility. Importantly, this level has increased from only 2% over the 1984-1997 period to 11% over the 1997-2004 period, with the contribution by stocks decreasing from 78% to 58%. Overall, this reflects an increased contribution by real estate to Hong Kong real estate company volatility in recent years since the Asian Financial Crisis and the establishment of the Hong Kong Special Administrative Region. These results have significant implications for international real estate securities funds and highlight the need for establishing an active real estate investment trust market in Hong Kong.en_HK
dc.languageengen_HK
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.subjectReal estate-
dc.titleFactors influencing the performance of Hong Kong real estate companiesen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=1083-5547&volume=13&issue=1&spage=75&epage=86&date=2007&atitle=Factors+influencing+the+performance+of+Hong+Kong+real+estate+companiesen_HK
dc.identifier.emailWing, CK: hrrbckw@hku.hken_HK
dc.identifier.emailKei, WS: kelvin.wong@hku.hken_HK
dc.identifier.emailMcKinnell, K: kgmckinn@hku.hken_HK
dc.identifier.authorityWing, CK=rp00993en_HK
dc.identifier.authorityKei, WS=rp01028en_HK
dc.identifier.authorityMcKinnell, K=rp01013en_HK
dc.description.naturelink_to_OA_fulltext-
dc.identifier.scopuseid_2-s2.0-34248589477en_HK
dc.identifier.hkuros134879en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-34248589477&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume13en_HK
dc.identifier.issue1en_HK
dc.identifier.spage75en_HK
dc.identifier.epage86en_HK
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridNewell, G=10045199100en_HK
dc.identifier.scopusauthoridWing, CK=24830082500en_HK
dc.identifier.scopusauthoridKei, WS=7404591021en_HK
dc.identifier.scopusauthoridMcKinnell, K=6507196785en_HK

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