Real estate as a new equity market sector: Market responses and return comovement

Tang, Hongfei; Xie, Kangzhen; Xu, Xiaoqing Eleanor

doi:10.1111/1540-6229.12314

Cited by 4 publications

(2 citation statements)

References 63 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Results of quantile regression prove that these two stocks are related in just bullish as well as bearish market conditions but in normal conditions, there is no correlation between them. Similarly, Tang et al (2020) tried to capture the effect of announcement regarding new stocks on the co-movement of returns of real estate as well as financials stocks listed at S&P. Results of the study clearly show that after the announcement of new stock, there is a decrease in co-movement between these two stocks and correlation between these two is also decreased, which indicates that creation of new sector affects the correlation between these two stocks negatively.…”

Section: Brief Literature Reviewmentioning

confidence: 99%

Dynamic co-movement and interdependency among real estate index in China: a multi-scale multiple correlation analysis

Khalfaoui

Tiwari

Alqahtani³

et al. 2021

IJHMA

View full text Add to dashboard Cite

Purpose This study aims to investigate the dynamic co-movement and interconnection among 69 security investment indices in China using the multi-time scale framework. Design/methodology/approach The authors first use the multiple coherence analysis method to exhibit the degree of relationships among the variables under study. In addition, the wavelet multiple correlation and wavelet multiple cross-correlation analyses are used to examine the time-frequency synchronization interdependence structure among the variables. Findings From the empirical findings, one may infer less opportunity for portfolio diversification at higher time scales. Obviously, at these scales, the authors find that the 69 Chinese investment indices generate a simple security investment class, as indicated by higher interconnection between the indices. Research limitations/implications Further research can increase the sample size to re-investigate the empirical relationship for security investment indices. Practical implications In the nutshell, the results demonstrate the potential for Chinese investors to invest in security investment indices to earn from portfolio diversification at lower time frequencies. The Chinese investment market indices under study yield further opportunities of portfolio diversification toward the short-term investors than the long-term investors. Originality/value To the best of the authors’ knowledge, this is the first paper to examine the dynamic co-movement and interconnection for security investment indices in China.

show abstract

Section: Brief Literature Reviewmentioning

confidence: 99%

Dynamic co-movement and interdependency among real estate index in China: a multi-scale multiple correlation analysis

Khalfaoui

Tiwari

Alqahtani³

et al. 2021

IJHMA

View full text Add to dashboard Cite

show abstract

“…There are also numerous publications on the real estate market and investment possibilities (Jayanthi and Saravanakumar, 2022) in a sector that could be very profitable. In this context, we note the study by Tang et al (2022), who analysed stock market responses and the movement of returns. In China, Huang et al (2022) assessed the systemic financial risks arising from the pandemic.…”

Section: Securities Market and Investmentsmentioning

confidence: 99%

Profitability and financial performance of Italian real estate companies: quantitative profiles

Migliaccio,

De Palma

2023

IJPPM

View full text Add to dashboard Cite

PurposeThis study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real estate companies divided into the three macro-regions: North, Centre and South, in the period 2011–2020. In this way, it is also possible to verify the responsiveness to the 2020 pandemic crisis.Design/methodology/approachThe analysis uses descriptive statistics tools and the ANOVA method of analysis of variance, supplemented by the Tukey–Kramer test, to identify significant differences between the three Italian macro-regions.FindingsThe study shows the increase in profitability after the 2008 crisis, despite its reverberation in the years 2012–2013. The financial structure of companies improved almost everywhere. The pandemic had modest effects on performance.Research limitations/implicationsIn the future, other indices should be considered to gain a more comprehensive view. This is a quantitative study based on financial statements data that neglects other important economic and social factors.Practical implicationsPublic policies could use this study for better interventions to support the sector. In addition, internal management can compare their company's performance with the industry average to identify possible improvements.Social implicationsThe research analyses an economic field that employs a large number of people, especially when considering the construction and real estate services covered by this analysis.Originality/valueThe study contributes to the literature by providing a quantitative analysis of industry dynamics, with comparative information that can be deduced from financial statements over the years.

show abstract

GICS and the Real Estate Reclassification Revolution

Goodwin

Liu

2021

Journal of Real Estate Portfolio Management

View full text Add to dashboard Cite

Real estate as a new equity market sector: Market responses and return comovement

Cited by 4 publications

References 63 publications

Dynamic co-movement and interdependency among real estate index in China: a multi-scale multiple correlation analysis

Dynamic co-movement and interdependency among real estate index in China: a multi-scale multiple correlation analysis

Profitability and financial performance of Italian real estate companies: quantitative profiles

GICS and the Real Estate Reclassification Revolution

Contact Info

Product

Resources

About