Journal•ISSN: 1444-5921
Pacific rim property research journal
Taylor & Francis
About: Pacific rim property research journal is an academic journal. The journal publishes majorly in the area(s): Real estate & Valuation (finance). It has an ISSN identifier of 1444-5921. Over the lifetime, 423 publications have been published receiving 3453 citations.
Topics: Real estate, Valuation (finance), Real estate investment trust, Portfolio, Diversification (finance)
Papers published on a yearly basis
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TL;DR: In this article, the authors pointed out that much of the research published in the property discipline consists of work utilising quantitative methods and that research gained using quantitative methods, if appropriately designed and rigorous, can be used to improve the quality of property research.
Abstract: Much of the research published in the property discipline consists of work utilising quantitative methods. While research gained using quantitative methods, if appropriately designed and rigorous, ...
106 citations
TL;DR: In this article, the authors assess the significance of infrastructure funds in Australia and highlight the leading infrastructure funds, types of infrastructure investment and super-annuation fund investment in infrastructure, as well as the potential role of infrastructure in portfolios.
Abstract: Infrastructure has taken on increased investment importance in recent years with the growth in listed and unlisted infrastructure funds, and increased interest in infrastructure as an asset class by superannuation funds. In addition to the traditional listed infrastructure companies, a number of major institutional investors in Australia have become increasingly involved in infrastructure funds; this includes Macquarie, AMP, Babcock and Brown, Hastings and James Fielding. The purpose of this paper is to assess the significance of these infrastructure funds in Australia; particularly highlighting the leading infrastructure funds, types of infrastructure investment and superannuation fund investment in infrastructure. The investment characteristics and performance of infrastructure over 1995-2006 will also be assessed, as well as the potential role of infrastructure in portfolios. Strong performance has been shown by the infrastructure sectors, as well as providing diversification benefits in a port...
64 citations
UBS1
TL;DR: In this article, the authors examine the current characteristics of global real estate markets, including the performance of real estate, the extent of securitisation of institutional grade property around the world and a comparison of the gearing levels in international securitized property markets.
Abstract: In response to the increasing importance of real estate investment internationally, we examine the current characteristics of global real estate markets, including the performance of global real estate, the extent of securitisation of institutional grade property around the world and a comparison of the gearing levels in international securitised property markets. We also examine current investor allocations to real estate and demonstrate the portfolio diversification benefits available from increased weightings to securitised property, suggesting an optimal portfolio allocation of 10-20%. We suggest that investors are able to gain even further diversification benefits via the introduction of international real estate allocations to investment portfolios. The paper also provides an analysis of the likely future trends in global real estate.
56 citations
TL;DR: The authors examined the risk and return profile of Asian real estate stocks from an American investor's point of view and found that Asian real-estate security markets have not produced high levels of compound returns relative to the US REIT and UK real estate stock markets since the 90s.
Abstract: This research examines the risk and return profile of Asian real estate stocks from an American investor’s point of view. Our results indicate that Asian real estate security markets have not produced high levels of compound returns relative to the US REIT and UK real estate stock markets since the 90’s. They have also experienced a higher level of volatility compared to their USA and UK counterparts. Asset allocations using meanvariance optimization are difficult to carry out, as many of the Asian property stock markets are not normally distributed. In addition, Asian real estate stocks have been able to provide diversification benefits in international investing that includes the US and UK security portfolios. However, the case for separate allocations to international real estate is weakened by the high correlations that are found in Asian markets between the real estate stock and broader market indexes.
55 citations
TL;DR: In this paper, the authors empirically examined the relationship between board size, percentage of executives and performance of property companies listed in Malaysia and found that the market seems to have a preference for small boards, but with more executive directors.
Abstract: In light of the 1997 Asian financial crisis, the effectiveness of good governance in Asian economies has been a confronting issue. This situation raised the key issue in corporate governance of how to effectively monitor managers and to exercise control so that managers act in the best interest of the shareholders. Amongst others, the existence of a board of directors is an important system for shareholding monitoring and control. This research empirically examines the relationship between board size, percentage of executives and performance of property companies listed in Malaysia. The findings provide evidence that the market seems to have a preference for small boards, but with more executive directors.
54 citations