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Article: Performance of property companies in Hong Kong: A style analysis approach

TitlePerformance of property companies in Hong Kong: A style analysis approach
Authors
Issue Date2003
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, 2003, v. 9 n. 1, p. 29-44 How to Cite?
AbstractThis study analyzes the returns of publicly traded property companies using the style analysis approach. Our results show that the proportion of direct real estate has increased over time. This suggests that indirect and direct real estate are becoming closer substitutes for each other. Furthermore, the findings indicate that the performance of most property companies is not significantly different from the performance of the underlying implied portfolio before transaction costs are taken into account. This implies that the performance of a property company is mainly attributable to its investment style characterized by the implied portfolio rather than management skills.
Persistent Identifierhttp://hdl.handle.net/10722/81886
ISSN
2015 SCImago Journal Rankings: 0.315
References

 

DC FieldValueLanguage
dc.contributor.authorChau, KWen_HK
dc.contributor.authorWong, SKen_HK
dc.contributor.authorNewell, Gen_HK
dc.date.accessioned2010-09-06T08:23:04Z-
dc.date.available2010-09-06T08:23:04Z-
dc.date.issued2003en_HK
dc.identifier.citationJournal Of Real Estate Portfolio Management, 2003, v. 9 n. 1, p. 29-44en_HK
dc.identifier.issn1083-5547en_HK
dc.identifier.urihttp://hdl.handle.net/10722/81886-
dc.description.abstractThis study analyzes the returns of publicly traded property companies using the style analysis approach. Our results show that the proportion of direct real estate has increased over time. This suggests that indirect and direct real estate are becoming closer substitutes for each other. Furthermore, the findings indicate that the performance of most property companies is not significantly different from the performance of the underlying implied portfolio before transaction costs are taken into account. This implies that the performance of a property company is mainly attributable to its investment style characterized by the implied portfolio rather than management skills.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.titlePerformance of property companies in Hong Kong: A style analysis approachen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=1083-5547&volume=9&issue=1&spage=29&epage=44&date=2003&atitle=Performance+of+property+companies+in+Hong+Kong:+a+style+analysis+approachen_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.scopuseid_2-s2.0-3543033977en_HK
dc.identifier.hkuros84041en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-3543033977&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume9en_HK
dc.identifier.issue1en_HK
dc.identifier.spage29en_HK
dc.identifier.epage44en_HK
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridChau, KW=24830082500en_HK
dc.identifier.scopusauthoridWong, SK=7404591021en_HK
dc.identifier.scopusauthoridNewell, G=10045199100en_HK

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