Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/224028
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dc.titleREITS, COMMON STOCKS AND PROPERTY COMPANY STOCKS � A CROSS-SECTIONAL STUDY OF RETURNS BEHAVIOR IN SINGAPORE
dc.contributor.authorSHEN YONGQIANG DEREK
dc.date.accessioned2009-10-01T11:01:34Z
dc.date.accessioned2022-04-22T20:48:54Z
dc.date.available2019-09-26T14:14:14Z
dc.date.available2022-04-22T20:48:54Z
dc.date.issued2009-10-01T11:01:34Z
dc.identifier.citationSHEN YONGQIANG DEREK (2009-10-01T11:01:34Z). REITS, COMMON STOCKS AND PROPERTY COMPANY STOCKS � A CROSS-SECTIONAL STUDY OF RETURNS BEHAVIOR IN SINGAPORE. ScholarBank@NUS Repository.
dc.identifier.urihttps://scholarbank.nus.edu.sg/handle/10635/224028
dc.description.abstractThis study looks at the returns behavior of the Singapore REIT market in relation to the overall Singapore equity market, represented by the Singapore Stock Exchange (SGX). The paper aims to find out if there are differences in the asset behavior between REITs, common stocks and property related stocks in the Singapore context. Using a cross-sectional standard deviation of returns model originally proposed for the detection of herding in financial markets, the resulting values of REITs are compared against that of samples of common stocks, as well as stocks of real estate industry related companies with regards to returns dispersion in a cross-sectional analysis marked to the STI index for analysis. The Singapore market is also tested for signs of herding at the same time. The results found that there are noticeable differences in the returns dispersion of REITs compared against common stocks, and common stocks against stocks of real estate related companies, while the comparison results for REITs and real estate related companies are extremely similar. The findings indicate segmentation between the real estate (REITs and property related stocks) and non-real estate (common stocks) constituents of the Singapore equity market, despite being traded in the same market. The results of the REITs sample in this study yielded low dispersion values across all market returns, which is indicative of a herding phenomenon in the Singapore REIT market, which is concluded to be spurious herding.
dc.language.isoen_US
dc.sourcehttps://lib.sde.nus.edu.sg/dspace/handle/sde/77
dc.subjectReal Estate
dc.typeDissertation
dc.contributor.departmentREAL ESTATE
dc.contributor.supervisorOOI THIAN LEONG JOSEPH
dc.description.degreeBachelor's
dc.description.degreeconferredBACHELOR OF SCIENCE (REAL ESTATE)
Appears in Collections:Bachelor's Theses

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