TY - JOUR
T1 - The impact of information transparency and market capitalisation on out-performance in Asian property companies
AU - Newell, Graeme
AU - Liow, Kim Hiang
AU - Ooi, Joseph T. L.
AU - Zhu, Haihong
PY - 2005
Y1 - 2005
N2 - With an increased emphasis on international property investment and an improved economic outlook for Asia, Asian property companies potentially provide an important property investment opportunity for international property fund managers. Using an information transparency index, 180 property companies in 10 Asian countries are assessed over 1997-2003 for their levels of information transparency. Whilst information transparency is seen to be important, market capitalisation is seen to be more significantly associated with Asian property company out-performance. Investing more in the larger property companies than the smaller property companies in Asia is seen to be a more effective property investment strategy for international property fund managers over this period.
AB - With an increased emphasis on international property investment and an improved economic outlook for Asia, Asian property companies potentially provide an important property investment opportunity for international property fund managers. Using an information transparency index, 180 property companies in 10 Asian countries are assessed over 1997-2003 for their levels of information transparency. Whilst information transparency is seen to be important, market capitalisation is seen to be more significantly associated with Asian property company out-performance. Investing more in the larger property companies than the smaller property companies in Asia is seen to be a more effective property investment strategy for international property fund managers over this period.
KW - Asia
KW - capital market
KW - international investors
KW - out-performance
KW - real estate investment
KW - strategy
KW - Information transparency
KW - Market capitalisation
KW - International investors
KW - Investme
KW - Asian property companies
KW - Out-performance
UR - http://handle.uws.edu.au:8081/1959.7/34996
UR - http://www.prres.net/Papers/PRPRJ_No_4_2005_Newell.pdf
UR - http://www.scopus.com/inward/record.url?scp=33745618570&partnerID=8YFLogxK
U2 - 10.1080/14445921.2005.11104194
DO - 10.1080/14445921.2005.11104194
M3 - Article
SN - 2201-6716
SN - 1444-5921
VL - 11
SP - 393
EP - 411
JO - Pacific Rim Property Research Journal
JF - Pacific Rim Property Research Journal
IS - 4
ER -
