The Significance and Performance of Listed Property Companies in Asian Developed and Emerging Markets

Nguyen, Thi Kim

doi:10.1080/14445921.2011.11104316

Cited by 12 publications

(21 citation statements)

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“…Furthermore, a study by Newell et al (2009a) revealed Malaysian property companies' Sharpe index had a negative ratio (-0.74) for the study period Q4 1998 to Q1 2007. Similar results were also found in a study by Nguyen (2011) and Liow and Adair (2009) which resulted in a Sharpe index of -0.0046 over the period January 1999 to December 2009 and -0.154 over the period 1996 to 2005. These results concur with the results from this study that showed a poor performance in terms of the Sharpe index performance compared to other asset classes.…”

Section: Risk-adjusted Returnssupporting

confidence: 88%

“…Although listed property companies are still able to show positive growth, compared to other mixed-asset portfolios it can be considered an unattractive portfolio investment. The results from this analysis are similar with other results from researchers such as Newell et al (2009a), Nguyen (2011) and Liow and Adair (2009). Therefore, the evidence of the poor performance of Malaysian listed property companies is strong and indicates that all property stakeholders in Malaysia need to do something from a long-term point of view.…”

Section: Property Implicationssupporting

confidence: 85%

“…There are extensive studies devoted to the Asian property markets, such as Liow and Adair (2009), Liow (2005Liow ( , 2008Liow ( , 2009, Jin et al (2007), Liow and Sim (2006), Ooi et al (2006), Wilson et al (2007), Gerlach et al (2006), Addae-Dapaah and Loh (2005), Ooi and Liow (2004), Mei and Hui (2004), Newell et al (2009aNewell et al ( , 2009b, Newell and Razali (2009), Nguyen (2011Nguyen ( , 2012 and Tsai et al (2010). Some authors, such as Ling and Naranjo (2002), observe cross-country analysis on commercial real estate returns.…”

Section: Introductionmentioning

confidence: 99%

“…Newell and Razali (2009) Assessed the impact of the GFC on commercial property investments in Asia. Nguyen (2011) Study of the performance analysis of the listed property companies for 13 Asian countries according to the level of market maturity as developed, emerging and lesser emerging. Lin and Lin (2011) Examined source of growth patterns in asset prices by analysing the integration relationship between stock market and real estate in 6 Asian countries.…”

Section: Introductionmentioning

confidence: 99%

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The Dynamic of Returns and Volatility of Malaysian Listed Property Companies in Asian Property Market

Razali

2015

International Journal of Strategic Property Management

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This paper examines the dynamics of return and dynamic volatility across the Malaysian and pan-Asian countries’ listed property companies market over the period January 1998 to August 2012. Listed property companies’ portfolios have the potential to offer high returns and low risks for long-term investments for individuals as well as institutional investors. As such, it is important to assess the return and volatility level of the Malaysian listed property companies market in the dynamic region of pan-Asian countries. This paper uses ARCH and GARCH models to empirically examine the dynamic volatility of listed property companies in 12 pan-Asian countries. The findings revealed that for the past 14-years Malaysia experienced moderately high volatility levels in term of investment in listed property companies. This study will contribute significantly to the empirical literature on the volatility dynamics of the Malaysian property market in international real estate portfolios. In particular, the findings from the study will be useful for international investors to better understand the potential portfolio implications of investing in the Malaysian real estate market.

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Section: Risk-adjusted Returnssupporting

confidence: 88%

Section: Property Implicationssupporting

confidence: 85%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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The Dynamic of Returns and Volatility of Malaysian Listed Property Companies in Asian Property Market

Razali

2015

International Journal of Strategic Property Management

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“…Consequently, the Asian region offers many opportunities for investment on a range of different measures. Being amongst the fastest growing economies, Asia has several national markets that have reached majority in terms of market complexity transparency and competitiveness (Nguyen 2011). According to research report by CBRE (2015), China and Singapore are two major countries as sources of capital at global investment, proving that Asian region as a major destination in terms of investment.…”

Section: Introductionmentioning

confidence: 99%

The Dynamic of Volatility of Pan-Asian Property Portfolio Markets

Razali¹,

Hamid²,

Zekri³

2019

PMJ

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The securitised market in Asia has become more progressive recently, especially with the introduction of Real Estate Investment Trusts (REITs). The financial crisis such Global Financial Crisis has put the Asian property market into a convenient means to invest because of their sustained economy from that crisis. Nevertheless, the Asian property market has become more complex to understand, especially for institutional investors. As such, it is important to understand the market volatility especially the Asian property market. An understanding of volatility level especially in regional market is important to determine the cost of capital as well as to detect leverage decision and investment. Significant changes in volatility will have a significant impact to property portfolio market at the regional level. With the emergence of regional and global investors in property, it is important to answer the question on the situation of Asian property portfolio markets’ volatility. Moreover, economy of each of PanAsian countries will also be assessed to show the significance of their economy development and provide information for investor’s investment strategies from the volatility level point of view. This paper will assess the volatility level of panAsian property portfolio market over the period January 2000 to December 2015 by using EGARCH model.

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The dynamics of volatility for Asian listed property companies during the global financial crisis

Razali

2015

Pacific Rim Property Research Journal

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The Significance and Performance of Listed Property Companies in Asian Developed and Emerging Markets

Cited by 12 publications

References 0 publications

The Dynamic of Returns and Volatility of Malaysian Listed Property Companies in Asian Property Market

The Dynamic of Returns and Volatility of Malaysian Listed Property Companies in Asian Property Market

The Dynamic of Volatility of Pan-Asian Property Portfolio Markets

The dynamics of volatility for Asian listed property companies during the global financial crisis

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