Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/217921
Title: CORPORATE GROWTH PERFORMANCE OF LISTED PROPERTY COMPANIES:SOME INTERNATIONAL EVIDENCE
Authors: KOAY ENG KIONG
Issue Date: 2004
Citation: KOAY ENG KIONG (2004). CORPORATE GROWTH PERFORMANCE OF LISTED PROPERTY COMPANIES:SOME INTERNATIONAL EVIDENCE. ScholarBank@NUS Repository.
Abstract: This study empirically examines the growth performance of listed property companies in 5 different countries, namely, Japan, United Kingdom, Malaysia, Hong Kong and Singapore. This will be carried by means of comparing their sustainable and actual growth rates over a ten year period from 1993-2002. It was observed that the actual growth rates of the listed property companies were generally higher than their sustainable growth rates in the Bull period of 1993-1998, prior to the Asian Financial Crisis. For the period after, most companies faced a decrease in their actual growth rates. A paired samples T-Test and a Wilcoxon Signed Ranks Test were carried out to investigate the possibility for any patterns to emerge regarding the difference in the sustainable and actual growth rates within the five countries. The empirical findings confirmed the hypothesis that Developed Economies as compared to Developing have actual growth rates which follow more closely to its sustainable growth rates. The concept of sustainable growth provides a realistic guide as to how much a firm should aim to grow by. The Earnings Retention Ratio (ERR), Return on Capital Asset (ROA) and the Debt-equity Ratio (D/E) are major constituents of the Sustainable Growth Equation. One of the aims of this study is to empirically assess the importance of these variables with respect to the sustainable growth rate. This would provide a clearer understanding of the underlying operating and financial dynamics that give rise to corporate growth.
URI: https://scholarbank.nus.edu.sg/handle/10635/217921
Appears in Collections:Bachelor's Theses

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