Abstract
![CDATA[Recent finance and real estate empirical and analytical studies have demonstrated that downside risk appears as an intuitively appealing risk measure in which it is more consistent with investors' behaviours. Conversely, qualitative studies into the behaviours of investors, particularly real estate investors, have been relatively limited. This study seeks to address this shortfall and aims to examine the behaviours of property fund managers towards downside risk. A survey was conducted in order to investigate the risk perceptions of property fund managers and determine whether they only require compensation for bearing with higher downside risk. The acceptance level of downside risk in the property funds industry in Australia is also examined. The findings reveal that downside risk is more consistent with how investors individually perceive risk. However, there is also a gap between theoretical assertions and practice in which downside risk is not commonly used in the practice. The results give an insight into the knowledge base of property investors towards downside risk.]]
Original language | English |
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Title of host publication | Investing in Sustainable Real Estate Environment (PRRES2008): Proceedings of the 14th Pacific Rim Real Estate Society Conference, held in Kuala Lumpur, Malaysia, 20-23 January, 2008 |
Publisher | Pacific Rim Real Estate Society |
Number of pages | 24 |
Publication status | Published - 2008 |
Event | Pacific Rim Real Estate Society Conference - Duration: 18 Jan 2009 → … |
Conference
Conference | Pacific Rim Real Estate Society Conference |
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Period | 18/01/09 → … |
Keywords
- risk management
- real estate investment
- risk perception
- Australia