Please use this identifier to cite or link to this item: https://doi.org/10.1023/B:REAL.0000036674.09159.8b
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dc.titleThe wealth effects of land acquisition
dc.contributor.authorOoi, J.T.L.
dc.contributor.authorSirmans, C.F.
dc.date.accessioned2013-10-14T05:12:15Z
dc.date.available2013-10-14T05:12:15Z
dc.date.issued2004
dc.identifier.citationOoi, J.T.L., Sirmans, C.F. (2004). The wealth effects of land acquisition. Journal of Real Estate Finance and Economics 29 (3) : 277-294. ScholarBank@NUS Repository. https://doi.org/10.1023/B:REAL.0000036674.09159.8b
dc.identifier.issn08955638
dc.identifier.urihttp://scholarbank.nus.edu.sg/handle/10635/46269
dc.description.abstractWe examine the wealth effects of land acquisition using on a unique set of public land auction data in Singapore. The results of our event study provide evidence of positive excess returns associated with announcements of successful land acquisition. The evidence also supports the hypothesis that the excess return is related positively to the ability of the successful bidder to create value from the development process. In addition, the magnitude of the excess gains is related positively to the level of uncertainty in a development and inversely to the propensity of the winning bidder engaging in non-wealth maximization activities.
dc.description.urihttp://libproxy1.nus.edu.sg/login?url=http://dx.doi.org/10.1023/B:REAL.0000036674.09159.8b
dc.sourceScopus
dc.subjectland acquisition
dc.subjectreal estate development
dc.subjectwealth effects
dc.typeArticle
dc.contributor.departmentREAL ESTATE
dc.description.doi10.1023/B:REAL.0000036674.09159.8b
dc.description.sourcetitleJournal of Real Estate Finance and Economics
dc.description.volume29
dc.description.issue3
dc.description.page277-294
dc.identifier.isiut000223065300002
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