Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/234323
Title: VALUE AND GROWTH STRATEGIES OF ASIA-PACIFIC PROPERTY STOCKS
Authors: LIM JUNJIE @ JAE HAYASHI
Keywords: Value
Growth
Price-to-Book ratio (PTB ratio)
Dividend Yield (DY)
Price-to-Earning ratio (PER)
Returns
Issue Date: 2007
Citation: LIM JUNJIE @ JAE HAYASHI (2007). VALUE AND GROWTH STRATEGIES OF ASIA-PACIFIC PROPERTY STOCKS. ScholarBank@NUS Repository.
Abstract: The study analyses the impact of fundamental stock variables (Price-to-Book ratio, Dividend Yield and Price-to-Earning ratio) on value and growth of property stocks' returns in the Asia-Pacific markets over a 10-year period from June 1995 - June 2005. In addition, with a sample that includes 175 property stocks listed in Malaysia, Japan, Singapore, Hong Kong and Thailand, the applicability of beta in explaining the difference in abnormal returns and the relative impact of fundamental variables on stock returns are also examined. The results demonstrated that these variables alone are insufficient in capturing the majority of cross-sectional variations in stock returns, implying that investors could not depend on any or a combination of these variables in making investment decisions. However, of the 3 variables, there is evidence pointing to lower PTB ratio having a considerable positive impact on returns relative to the other 2 variables. The study has also confirmed the effectiveness of beta in explaining abnormal returns, indicating that higher risk in value stocks leads to superior abnormal returns.
URI: https://scholarbank.nus.edu.sg/handle/10635/234323
Appears in Collections:Bachelor's Theses

Show full item record
Files in This Item:
File Description SizeFormatAccess SettingsVersion 
VaLjjh.pdf28.72 MBAdobe PDF

RESTRICTED

NoneLog In

Page view(s)

9
checked on Jan 26, 2023

Google ScholarTM

Check


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.