An Investigation on the Risk Perceptions of Australian Property Fund Managers

Lee, Chyi Lin; Reed, Richard; Robinson, Jon

doi:10.1080/14445921.2008.11104255

Cited by 6 publications

(3 citation statements)

References 14 publications

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“…The interview questionnaire was composed of a mix of both structured and unstructured questions. The unstructured questions were open-ended so that respondents were given more space and freedom to share their perceptions, which was an effective way to gauge the perception and opinion of humans [32][33][34]. The semi-structured approach offered flexibility to the participants and provided consistency in the interviews to avoid going off the topic.…”

Section: Methodsmentioning

confidence: 99%

“…Life cycle approaches and assessment methodology are inherently rooted in sustainability valuation at the conceptual level [11]. Although the life cycle approach has been considered in sustainability assessment since the 1990s, the recent developments in life cycle assessment led to a very comprehensive proposal of frameworks for a lifecycle-based sustainability assessment [32]. According to Kloepffer [90], Life Cycle Sustainability Assessment equates to life cycle assessment, life cycle costing, and social life cycle assessment.…”

Section: 'Life Cycle Thinking' Theorymentioning

confidence: 99%

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A Framework for Developing Green Building Rating Tools Based on Pakistan’s Local Context

Khan¹,

Wang²,

Lee³

2021

Buildings

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Most countries have developed green building rating tools that are based on social, environmental, and economic dimensions. Pakistan followed a similar approach and has developed a rating tool known as Sustainability in Energy and Environmental Development (SEED). However, SEED is built on developed western countries’ rating tool standards which do not address Pakistan’s unique local context, especially from the cultural and governmental perspectives. This research aims to fill this research gap by developing a holistic framework of building rating tools that incorporates cultural and governmental dimensions. Based on an extensive literature review, a hypothetical framework, incorporating Pakistan’s unique local contexts and adding cultural and governmental dimensions to the widely adopted social, environmental, and economic dimensions of sustainability, was proposed in this paper. This framework was further validated by in-depth interviews with multiple stakeholders in Pakistan. A qualitative analysis of the interview results was carried out, and the final framework was proposed with key indicators, reflecting all five dimensions of sustainability. The verified sustainability framework can be used to improve or develop green building rating tools for Pakistan, and it can also inform other developing countries’ rating tool development.

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Section: Methodsmentioning

confidence: 99%

Section: 'Life Cycle Thinking' Theorymentioning

confidence: 99%

A Framework for Developing Green Building Rating Tools Based on Pakistan’s Local Context

Khan¹,

Wang²,

Lee³

2021

Buildings

View full text Add to dashboard Cite

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“…ESG and corporate governance, therefore, have received a vast amount of attention from policy makers and property researchers that studied many issues of CSR and sustainability [10,28,40]. Further, a large number of property studies have been performed in managerial and behavioural issues [41], including the aspects of risk management [42][43][44], agency, information asymmetry, and capital structure [44,45], as well as purchasing decision making [45,46]. However, there is paucity of literature on corporate governance, a critical component of CSR, in mitigating managerial irrational behaviour [47], especially within REITs.…”

Section: Introductionmentioning

confidence: 99%

CEO Overconfidence and Corporate Governance in Affecting Australian Listed Construction and Property Firms’ Trading Activity

2021

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This paper aims to examine whether and to what extent overconfident CEOs affect Australian real estate investment trusts’ (A-REITs) property investment activities during their tenure as the CEO of A-REITs, covering the period 2000–2019. A-REITs’ property investment and disposal activities are separately modelled against CEOs shares in their companies (an indicator of CEO overconfidence), as well as other controlled variables. We found that around 68% of A-REIT CEOs are overconfident over the study period. However, our empirical results also indicated that CEO overconfidence did not have a profound impact on A-REITs’ investment activities, either property acquisitions or disposals. This could be explained by high corporate governance of A-REITs. Specifically, Australian construction and property companies are the leading market players in sustainability. As publicly quoted companies, listed property and construction companies, particularly A-REITs could be exposed to various managerial issues, including corporate CEO overconfidence and its influence on the investment decision-making process. However, this managerial issue could be minimized via an enhancement of corporate governance that is a key pillar of sustainability. The mitigation of corporate overconfidence and implementation of corporate governance mechanisms makes REITs more accountable to their investors. The implications of the findings have also been discussed.

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Australian Institutional Investors and Residential Investment Vehicles

Lee

Newell

Kupke

2016

Proceedings of the 20th International Symposium on Advancement of Construction Management and Real Estate

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An Investigation on the Risk Perceptions of Australian Property Fund Managers

Abstract: Recent empirical and analytical studies have demonstrated that downside risk appears as an intuitively appealing risk measure in which it

Cited by 6 publications

References 14 publications

A Framework for Developing Green Building Rating Tools Based on Pakistan’s Local Context

A Framework for Developing Green Building Rating Tools Based on Pakistan’s Local Context

CEO Overconfidence and Corporate Governance in Affecting Australian Listed Construction and Property Firms’ Trading Activity

Australian Institutional Investors and Residential Investment Vehicles

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