Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/220260
Title: COMMON RISK FACTORS IN PROPERTY AND NON-PROPERTY STOCKS LISTED ON SGX
Authors: ONG GEOK SUAN JERLINE
Keywords: Real Estate
Issue Date: 4-Dec-2009
Citation: ONG GEOK SUAN JERLINE (2009-12-04T09:31:26Z). COMMON RISK FACTORS IN PROPERTY AND NON-PROPERTY STOCKS LISTED ON SGX. ScholarBank@NUS Repository.
Abstract: This study tests the hypothesis of common risks variables in real estate and non-real estate companies listed on the Stock Exchange of Singapore (SGX). The methodology involved the analysis of the real estate effects on listed companies’ performance over a time frame of ten years, from 1999 to 2008. Using multiple regression models, the significance of the relationships was tested. The empirical results showed evidence of two main common risk factors which include property stock and the direct industrial property market. Results also showed no statistical significance in relationship between property stocks and general stock markets when further test was conducted to remove stock market effects. Hence, this implies that real estate holdings and common stocks may bring about diversification benefits for investors when included in the same portfolio. The office property market was also another significant risk factor found in the study to have influenced the returns of telecommunication industry. This study has made an attempt to find significance in the performance of listed property and non-property companies as well as observed the common factors present between the property investment markets.
URI: https://scholarbank.nus.edu.sg/handle/10635/220260
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