Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/220757
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dc.titleBCA GREEN MARK AWARD ON STOCK PERFORMANCE OF REAL ESTATE PRIVATE RESIDENTIAL DEVELOPERS
dc.contributor.authorOW YONG MEI MEI MICHELLE
dc.date.accessioned2020-05-05T08:32:45Z
dc.date.accessioned2022-04-22T17:18:16Z
dc.date.available2020-06-10
dc.date.available2022-04-22T17:18:16Z
dc.date.issued2020-05-05
dc.identifier.citationOW YONG MEI MEI MICHELLE (2020-05-05). BCA GREEN MARK AWARD ON STOCK PERFORMANCE OF REAL ESTATE PRIVATE RESIDENTIAL DEVELOPERS. ScholarBank@NUS Repository.
dc.identifier.urihttps://scholarbank.nus.edu.sg/handle/10635/220757
dc.description.abstractThis paper examines the stock price reactions to BCA Green Mark (GM) award certification attainment announcements by listed private residential developers in Singapore and whether awards with different certification ratings and different developer conditions lead to different stock price reactions. Results from the event study methodology show that abnormal returns and cumulative abnormal returns (CARs) of the developer associated with BCA GM award achievements are generally insignificant, but differ significantly under different developer conditions, as well as type and year of the award. The average abnormal returns (AARs) across all four GM ratings were generally significantly positive in the positive event window except for the GM certified rating which was very significantly negative, suggesting that GM certified awards have a negative impact on the developer stock performance. The stock market reacted with more positive AARs in the recent years (i.e. 2010 to 2019) and more negative AARs in the earlier years of BCA GM Scheme (i.e. 2005 to 2009), suggesting that BCA GM awards saw a positive change in impact on developer stock performance over the years. Results from the multivariate regression show that the size of the developer and the number of awards won by the developer are more significant factors affecting the CARs. The coefficient of developer size is statistically significant and negative, suggesting that green building certification does not value-add much to the reputation of larger developers but is more important for smaller developers. The coefficient of multiple vs. single award is also generally statistically significant but positive, suggesting that developers who announced their clinching of multiple awards of green building certification see a positive effect on their stock performance in contrast with single awards.
dc.language.isoen
dc.sourcehttps://lib.sde.nus.edu.sg/dspace/handle/sde/4726
dc.subjectReal Estate
dc.subjectRE
dc.subjectLi Qiang
dc.subject2019/2020 RE
dc.typeDissertation
dc.contributor.departmentREAL ESTATE
dc.contributor.supervisorLI QIANG
dc.description.degreeBachelor's
dc.description.degreeconferredBACHELOR OF SCIENCE (REAL ESTATE)
dc.embargo.terms2020-06-10
Appears in Collections:Bachelor's Theses

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